At NFT.London, the ecosystem is looking for the recipe to entice the general public

Founded in 2019, the annual NFT.NYC conference comes to London on October 3-4. The opportunity to discover tomorrow’s innovations regarding NFTs and DAOs.

It is in historic Westminster, within the six-storey grounds of the Queen Elizabeth II Centre, that professionals in Web3 met on Thursday 3 October for NFT.London, the first European emanation in the history of NFT.NYC, an annual New York event dedicated entirely to NFTs and their applications.

Despite a busy weekend for Web Summit in Lisbon (still prioritized by the most emblematic companies in the sector), more than 600 speakers followed each other over two days in front of an audience of 2,500 people. The event consists of a series of very concise ten to twenty-five minute roundtables led by entrepreneurs, stakeholders and observers of the Web3 ecosystem; an effective format to fly over the many use cases of NFTs, unfortunately less to deepen the topics, especially since the program offers three to four conferences simultaneously and therefore imposes choices.

“There’s still no revolution among Web3 games”

As CTO and co-founder of Immutable, layer-2 eEthereum and the main sponsor of the event, Alex Connolly takes the lion’s share with three presentations. This secondary network’s ambition is to become a major player in video games, as illustrated recently by its partnership and technical support with GameStop for development of a dedicated gaming platform.

The Immutable X network stand at the Queen Elizabeth II Centre. © Jérémy Le Bescont

During his first talk, he details the systemic issues and obstacles of integrating Web3 concepts into games, mainly the technology frictions that are the need for a wallet for the user or even the networks ability to support thousands of connections. We haven’t “seen a revolution among Web3 games yet,” he says, discussing first-gen (Cryptokitties) and second-gen (Axie Infinity, Gods Unchained) games, before introducing Illuvium, Guild of Guardians, and Midnight Society, supposed. to embody a third generation able to interest the very large audience of players.

During the various discussions, it is very clear that if Web3 aspires to end Gafa’s hegemony by sharing the revenue with the audience of players, listeners and spectators, at the moment this has yet to be done. wait, and promises of revenue sharing, data protection and decentralization alone aren’t enough to attract it.

In fact, the Immutable network relies on the abstraction of notions of blockchainwallet and cryptocurrencies, a paradigm shift assumed in most roundtables, such as the one titled “Valuing popular culture and creating a new economy thanks to NFTs”, during which British journalist Conor McNicholas readily admits that the term NFT has been “terrible”. from a mainstream adoption marketing perspective”.

A physical NFT distributor at NFT.London. © Jérémy Le Bescont

“People don’t want to hear about it, it’s the new HTML, it’s a term that’s going away,” insists the former NME editor. Like this distributor The physical NFT located in front of the building, so the sector wants to take care of the form to make it more accessible.

In addition to the adoption by the general public, NFT.London is the opportunity to raise other already concrete questions: the integration of digital assets into a legacy, the traceability of a physical commodity by a digital passport or the various taxes according to legislation.

Because of the brevity of the discussions, it’s hard to glean any substance from them anyway, and that’s the big black point of this event, but a revealing insight into a bubbling ecosystem nonetheless.

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