The Future of NFTs Explained at the Paris Blockchain Week Summit

The Paris Blockchain Week Summit hosted the Palais Brongniart in Paris on April 13-14. This blockchain show was an opportunity to discuss emerging technologies in the blockchain ecosystem and see the latest innovations. A large number of projects and stakeholders shared their views on the future of the ecosystem and more specifically of NFT technologies. Let’s take a look at some of the ideas that were showcased during the show.

The Paris Blockchain Week Summit in a nutshell

A true French blockchain success, this event was able to satisfy the crypto enthusiasts who made the journey. 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, @DamienBresson

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. The promising technology of NFTs was able to animate the debates. Let’s review together the arguments put forward to justify the widespread use of this technology in the coming years.

NFTs as a tool of digital ownership

So the first conference we attended was about the metaverse. Indeed, this panel spotlighted the metaverse’s place in a digital world powered by Big Tech. The various panelists, including Sébastien Borget, co-founder of Sandbox, and Benoit Pagotto, explained their views on the metaverse and the importance that NFT technologies would have there.

I’m not telling you anything, the world of Big Tech is built on collecting, analyzing and reselling personal data. Web3 technologies, and by extension NFT technologies, aim to put ownership of this data back in the hands of users. So adopting this culture means embracing a new way of using the internet. Today, however, the Big Techs are the companies with the largest global product development strike force. This debate has therefore made it possible to realize that the transition to Web3 and the massive use of the resulting technologies would not take place without the will of these digital giants.

Then the conferenceHow NFTs are transforming the art worldemphasized the importance of this technology for artists. Presented by Giulia Archetti, Inna Modja and Agoria, this discussion revolved around these new work improvement tools, aimed at creators. In short, NFTs allow the artist to receive a larger share of the sales of their work, provide an alternative source of income and ensure that the creator receives a royalty in the event of a sale on the secondary market. The aforementioned performers explained their journey and how this new technology could have propelled them to the front of the stage.

The end of notaries with NFTs?

Finally, the conference highlighted the impact of NFTs in the real estate sector: “New forms of ownership: digital real estateReal estate procedures are very tedious today and blockchain technologies could well modernize this area. Indeed, with the introduction of digital ownership, NFTs could ease notarial processes to a certain extent. Just imagine if you own an apartment, a house, simply by sending the appropriate NFT? Obviously, we are still a long way from this paradigm, for obvious regulatory reasons! However, when we emphasize the age of these technologies with all the questions they raise, it’s easy to see their potential in the medium and long term!

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. However, these digital assets suffer from their reputation as many abuses have broken out against them. How can such inflation rates be justified as populations suffer the effects of global geopolitical conflict when teens exchange pictures of monkeys for $200,000? This area of ​​blockchain has developed at a record pace and a regulatory framework will have to be put in place in a fair manner so as not to harm its proper development.

Leave a Comment