To NFT or Not to NFT

a recap of our live panel discussion

Author

FROM UNTAM3D
June 06, 2022

Thank you to all those who were able to attend last week’s panel (pssst if you missed it the replay link is below).

NFTs have become a valuable tool in the new web3 digital economy through their role in generating and retaining value in digital spaces. They are the first tangible use case for blockchain beyond cryptocurrencies.

We heard from voices in fashion, art, business and brands, share their respective experiences and perspectives on the pros and cons of NFTs.

Here are some of the highlights…

💸 NFTs hold value

We kicked off the panel discussion with Laura Grayling, Strategy Consultant. Laura shared how NFTs can help brands access new consumer bases that they usually may not have access to while unlocking new revenue streams. She sees it as an opportunity for brands to experiment early on within the web3 space while gaining a footing for what is to come in the next few years.

👯 NFTs builds communities

Stephanie Vermas, CEO of TIALS, shared her experience with NFTs and how NFTs are a great equaliser to an industry that is often one-sided such as fashion. “NFTs can bring value and fairness to everyone involved.” Stephanie went on to discuss how fashion brands can leverage NFTs to retain value while building a community of brand loyalists with a vested interest in seeing the brand succeed.

💰 NFTs give creators newfound financial independence

Jane Guan, an artist at WanderWomanDAO, feel that NFTs (and web3 for that matter) are providing digital artists the opportunity to channel their personal artistic interests while also being able to earn a living. Jane shares some tips on what to look out for when joining a decentralised autonomous organisation (DAO), such as being aligned to the DAO’s inherent vision, how the organization is structured or how it allocates the funds from the sale of NFTs and ultimately benefits the community.

⛓️ NFTs popularity drive innovations for the next generation of chains

Charu Sethi, CMO At Unique.Network, walked us through her journey and evolution of the unique use cases of the blockchain and the obstacles to mass adoption at each juncture. Charu highlights how third-generation blockchains such as Polkadot are bringing greater efficiencies, scale, and interoperability into the ecosystem. Through a study conducted at Unique.Network, we learned that one NFT transfer on the Ethereum blockchain produces 48 kilos of carbon dioxide, whereas, one NFT transfer on the Polkadot blockchain only produces 0.03 grams of carbon dioxide.

>>> If you missed the event live, catch the replay here.

ℹ️ More resources to navigate around NFTs

👊 Thank you to our partners for their continued support!