The future of NFTs explained at the Paris Blockchain Week Summit

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

Paris Blockchain Week Summit in a nutshell

A true French blockchain success, this event was able to satisfy crypto enthusiasts who took the trip. In fact, nearly 6,000 participants, 355 speakers, 250 sponsors and 350 media and journalist partners, the Chain of Events, the organizer of the show, were able to gather at the Palais Brongniart.

Source: Chain of Events, @DamienBresson

The program for these two days, preceded by Betting NFT Day, swept across all major blockchain topics. In fact, the event was formulated around 4 main issues, which are business and blockchain, decentralized financing, blockchain technological revolution 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 major topics in the ecosystem and led to interesting debates about these technologies. The promising technology from NFTs was able to animate the debates. Let us review together the arguments put forward to justify the widespread use of this technology in the coming years.

NFTs as an instrument of digital property

Thus, the first conference we attended was about the meta-verse. In fact, in this panel, the place of the meta-verse in a digital world driven by Big Tech was in the spotlight. The various panelists, including Sébastien Borget, co-founder of Sandbox, and Benoit Pagotto, explained their vision of the meta-verse and the importance that NFT technologies would have there.

I’m not telling you anything, Big Tech’s world is built on collecting, analyzing and reselling personal data. Web3 technologies, and by extension NFT technologies, aim to bring the ownership of this data back into the hands of users. Thus, adopting this culture means embracing a new way of consuming the web. However, today Big Techs are the companies that have the greatest global impact in terms of product development. This debate has therefore made it possible to realize that the transition to Web3 and the massive use of the resulting technologies would not happen without the will of these digital giants.

Then the conferenceHow NFTs are transforming the art worldhighlighted the importance of this technology for artists. Hosted 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 revenue and ensure that the creator receives a royalty in the event of a sale on the secondary market. The above artists explained their journey and how this new technology had been able to propel them forward on stage.

The end of notaries with NFTs?

Finally, the impact of NFTs in the real estate sector was highlighted at the conference: “New forms of ownership: Digital Real EstateReal estate procedures are very tedious today, and blockchain technologies could very well modernize this area. In fact, introducing digital real estate to a certain extent can facilitate notary processes. Imagine being able to transfer ownership of an apartment, a house simply by sending the relevant NFT? It is clear that we are still far from this paradigm, for obvious regulatory reasons! But when we highlight the age of these technologies with all the questions they raise, it is easy to see their potential in the medium and long term!

NFT technologies were honored during these three days at the Palais Brongniart. Paris NFT Day, the show’s 100% NFT opening ceremony, highlighted interest in this technological revolution in the ecosystem before making way for the Paris Blockchain Week Summit. However, these digital assets are suffering from their reputation as many abuses have broken out against them. How can such inflation rates justify populations suffering the consequences of global geopolitical conflicts when teens exchange pictures of monkeys for $ 200,000? This field of blockchain has developed at record speed and a regulatory framework must be established in a fair way so as not to harm its proper development.

Leave a Comment