State of Play of NFTs at the Paris Blockchain Week Summit

The Paris Blockchain Week Summit brought together the world’s blockchain credentials for 3 days at the Palais Brongniart. A true outpost of these technologies in France, all topics of this universe have been explored by exceptional speakers. We come back today to the various arguments that have been put forward about NFTs, the current situation and the future of this technology.

The Paris Blockchain Week Summit in a nutshell

Before presenting the current situation on NFTs in more detail, let’s go back to the numbers achieved with this show. Indeed, it is almost 6,000 participants, 355 speakers, 250 sponsors and 350 media and journalistic partners that Chain of Events, the organizer of the show, has managed to bring together in Palais Brongniart.

Source: Chain of Events, @Damien Bresson

The program of these two days, preceded by NFT Day Betting, swept across all major blockchain topics. Indeed, the event was articulated around 4 main themes namely business and the blockchain, decentralized finance, the technological revolution of blockchain and the close relationship between blockchain and regulation.

The Paris Blockchain Week Summit was therefore an opportunity for blockchain professionals to meet to discuss common issues, but also the development of their projects. Many conferences with quality speakers were able to cover almost all the important topics of the ecosystem and led to interesting debates about these technologies.

NFT, where are we?

Between the pure product of speculation and real disruptive technology, NFTs appeal to different types of profiles. The conference NFT Funds Panel: How NFT Funds Profit from an Emerging Market presented how NFT funds approach this market. Renowned panelists, I mentioned Julien Bouteloup, Founder Blackpool Finance, James WO, CEO Founder DFG, Drew Austin, Redbeard Ventures and Vanessa Grellet, Coinfound did indeed explain their interest in these technologies. For example, they explained that we have experienced a period of euphoria with NFTs, such as the ICOs of 2018.

A fad, an ongoing trend and over-mediatization have combined to make this country a real lottery. Indeed, each collection had the potential to achieve sales records by displaying the keyword NFT. As the markets begin to breathe heavily, the euphoria subsides and projects develop that offer real use cases for these technologies. The whole point now is to dig up the gold nuggets that will be part of the future of this ecosystem.

We were then able to attend a discussion on the use of NFTs in the sports world during the conference “NFTs & Sports: A new layer of fan engagement”. Famed tennis player Patrick Mouratoglou, after previously presenting his new take on tennis the Ultimate Tennis Showdown, along with other panelists, shared his vision of NFTs to engage a community. Indeed, NFTs now make it possible to bring value and create links within an audience thanks to the blockchain. The general idea of ​​this panel was to emphasize the benefit of these new technologies and the place they could occupy in the future.

Take the example of the Australian Open and their NFT collection launched earlier this year. The general public can purchase NFT plots of the digitized tennis court and the impact of the 11 match points from the 11 tournament finals (men’s singles, women’s doubles, armchairs, etc.) will provide an additional reward for the holder of the winning NFT. An example of the use of these technologies to bridge the real and digital economy.

NFT technologies were honored during these three days at the Palais Brongniart. The Paris NFT Day, the show’s 100% NFT opening ceremony, highlighted the interest of this technological revolution in the ecosystem before it gave way to the Paris Blockchain Week Summit. These tools that introduce the concept of digital ownership have suffered somewhat from their reputation, but projects looking to make the most of them will be fully appreciated by the Web3 community.

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