NFT: A thriving French ecosystem!

ERA2140 is a French blockchain agency that closely supports companies in the sector and project managers, from the development of their idea to the launch on the market. Pierre de Conihout and Florian Buffard answered our questions about this market, which is becoming increasingly democratic.

NFT: A thriving French ecosystem!

The NFT market has experienced a major boom this year. How do you explain this phenomenon?

NFTs have now been around for several years, but the maturity of technology, combined with the advent of trading platforms, has brought digital artists like Beeple forward. A collector paid $ 70 million for his virtual work “Everyday: the First 5000 days”, that is, 5000 digital works representing his apprenticeship in drawing and graphic design.

This flare-up has led to a certain number of new players entering the market, such as professionals from the art world (auction houses, galleries, artists, etc.), but also institutions (Visa, Nike, Disney, etc.).

The growing interest of these sectors in NFTs and the media coverage of these newcomers has made the world of NFTs increasingly attractive. After a first wave in early 2021, the market exploded and we witnessed the “NFT summer” between June and August 2021.

Who says the NFT also says innovative platforms to reinvent certain sectors (especially those in culture and entertainment). What opportunities does this technology offer?

NFTs offer several options for a large number of sectors. In the art world, allows digital artists to easily store, authenticate and sell their works. They will also earn commissions on sales in the secondary market. In luxurythey offer certification and better traceability of a physical object, such as a work of art or a vintage car.

In the event sector, they can be admission tickets and collectibles. Finally, they are revolutionizing game. They allow players to collect characters and accessories that will give them advantages in the game. They are professional or leisure activities.

To move forward, with decentralized financing, NFTs can now serve as your counterparty or generate returns.

What trends or developments are you observing in this market?

As we said above, the NFT market exploded in the summer of 2021, so some NFT marketplaces were responsible for the explosion of daily gas charges on the Ethereum network. Although the volume of transactions has decreased since the beginning of the school year, we are seeing an increase in the number of NFT project creationsso much so that they now represent the majority of our leads.

How ERA2140 does it intend to make it known to a wider audience?

This sector works like any new industry, and the focus so far has been on building functional products for a familiar audience. We are now entering a new phase of adoption with products designed for the general public: simpler, more intuitive and offering a smooth experience.

The ERA2140 wants to be an active participant in this democratization. We support all our customers on their journey and user interface (UX / UI) challenges to best integrate technology into the product.

When a customer comes to you with a project, what steps do you then take to complete it?

It all depends on the type of project! If there is one already established crypto company, we work with specific technological issues. For example, developing smart contracts or revising existing contracts to detect vulnerabilities and correct them.

As part of a new project, we are acting in all areasnamely from the co-construction of the product (consulting, UX / UI), through technological development (web, mobile, blockchain) and marketing (communication, marketing).

To meet the growing demand, we are also recruiting senior web, mobile and blockchain developers as well as 2D and 3D designers.

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