The Future of NFTs Explained at the Paris Blockchain Week Summit

On April 13 and 14, Paris hosted the Paris Blockchain Week summit at the Palais Brongniart. This blockchain show was an opportunity to discuss new 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, in particular, NFT technologies. Let’s take a look at some of the ideas showcased during the show.

Briefly about Paris Blockchain Week Summit

A real success for the French blockchain, this event was able to satisfy the crypto enthusiasts who made the trip. Indeed, almost 6,000 participants, 355 speakers, 250 sponsors and 350 media representatives and journalists managed to gather at the Palais Brongniart, the organizer of the show Chain of Events.

Source: Chain of events, @DamienBresson

The program for the two days preceding NFT Daily Betting, covered all major blockchain topics. Indeed, the event was framed around 4 main issues: companies and blockchain, decentralized finance, the technological revolution of blockchain, and the close relationship between blockchain and regulation.

Thus, the Paris Blockchain Week Summit has become an opportunity for blockchain professionals to meet to discuss common issues, as well as develop their projects. Many conferences with quality speakers were able to cover almost all the main topics of the ecosystem and led to interesting debates on these technologies. The promising NFT technology has been able to revive the debate. Let’s take a look together at the arguments put forward to justify the widespread use of this technology in the coming years.

NFT as a digital property tool

So the first conference we attended was about the metaverse. Indeed, on this panel, the place of the metaverse in the digital world based on big technologies was the focus of attention. Various panellists, including Sebastian Borge, co-founder of Sandbox, and Benoît Pagotto, explained their vision for the metaverse and the importance that NFT technologies will have in it.

I’m not telling you anything, the world of Big Tech is built on the collection, analysis and resale of personal data. Web3 technologies and, as a result, NFT technologies aim to return ownership of this data to users. So adopting this culture means adopting a new way of using the Internet. However, today Big Tech are the companies with the biggest global impact in terms of product development. Thus, these debates made it clear that the transition to Web3 and the mass use of the resulting technologies will not happen without the will of these digital giants.

Then the conferenceHow NFTs are changing the art worldemphasized the importance of this technology for artists. Hosting Julia Arcetti, Inna Modja and Agoria, this discussion revolved around these new creator-focused enhancement tools. In short, NFTs allow the artist to get a larger share of the sale of their work, provide an alternative source of income, and guarantee the author a royalty in the event of a sale on the secondary market. The artists mentioned above spoke about their journey and how this new technology was able to bring them to the forefront of the stage.

The end of notaries with NFTs?

Finally, the impact of NFTs on the real estate sector was highlighted at the conference: “New forms of ownership: digital real estate“. Real estate procedures today are very tedious and blockchain technologies may well modernize this area. Indeed, by introducing digital property, NFTs could facilitate notarial processes to some extent. Imagine being able to transfer ownership of an apartment, house, simply by sending the corresponding NFT? Obviously, we are still far from this paradigm for understandable regulatory reasons!However, 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 celebrated during these three days at the Palais Brongniart. Paris NFT Day, the opening ceremony of the 100% NFT show, highlighted interest in this technological revolution in the ecosystem before giving way to the Paris Blockchain Week Summit. However, these digital assets are suffering from their reputation as many abuses have erupted against them. How can you justify such a rate of inflation when the population is suffering from the consequences of global geopolitical conflicts, when teenagers exchange photos of monkeys for $ 200,000? This area of ​​blockchain has evolved at a record pace and the regulatory framework needs to be set up in a fair manner so as not to harm its proper development.