Pump and Dump or innovation: Future of NFTs will be central theme of panel at Bit In Rio by 2GOFintech'
The market of cryptocurrencies --nbsp ; saw the boom in non-fungible tokens ( NFTs ) between 2020/2021. In this period, NFTs like CryptoPunks, BAYC and many others reached expressive figures and surpassed the million dollar mark.
However, in 2022, with the downturn in the crypto market, the value of NFTs plummeted . An example of the market crash is the NFT of the first tweet written in history that was sold in 2021 for US$ 2.9 million (R$ 10 million). However, when the buyer tried to sell the NFT the maximum bid received was 3.3 Ether (ETH tickers down R$6,906), around R$50,000 at the time.
Markets for NFTs like OpenSea have also plummeted. In the case of OpenSea, data from DappRadar points out that the volume of NFT trades has dropped by more than 90% in 2022 compared to the same period last year. However, despite the drop in price and the apparent lack of investor interest, day by day more and more companies are announcing actions involving NFTs.
As Paulo Aragão, founder of Bit In Rio by 2GOFintech, points out, the innovation of NFTs is much greater than the hype they caused last year. He claims the innovation NFTs have created will help shape the digital world and even the way we identify ourselves on the web.
NFTs
Aragão points out that NFTs initially started out as digital images, some generated by algorithms (such as CryptoPunks). However, developers are increasingly exploring the possibilities that smart contracts provide to NFTs and today it is possible to prove your identity on social networks through m NFT PFP (proof-of-profile)
“In addition, there are NFTs representing copyrights, NFTs linked to hybrid experiences (physical and digital) and NFTs, such as the ENS, which are an outline of a single digital identity to act as a bridge between the digital world and the physical world”, he says. .
Seeking to discuss how these developments in the NFTs industry can help shape the future of the relationship between the physical and digital world, Bit In Rio by 2GOFintech' will have an entire panel dedicated to the topic. The panel will be mediated by Felipe Escudeiro, from the Bitnada channel. Alongside Escudeiro, influencers Caio Vicentino, Carioca and Nija will debate the future of NFTs and digital life shaped by the art of algorithms.
“Forget about price, value or devaluation. NFTs are not going to shape the future, they are already shaping it. It is no wonder that companies like Nike, Meta, NBA and so many others are releasing NFTs. Forget about this talk that NFTs are just a worthless jpg, the image you see on the screen is less important than the new world of possibilities that this window opens up to us. Soon your own identity will be an NFT, and who is saying this is not me, but the Federal Government of many parts of the world, such as South Korea, which has already announced blockchain digital IDs for the next year”, highlights Escudeiro- -nbsp;
The event
Bit In Rio by 2GOFintech
O Bit In Rio by 2GOFintech will take place in Barra da Tijuca, in the West Zone of Rio, and tickets are on sale this address . The conference will bring more than 50 speakers in a 10-hour event. Panels and talks will cover a variety of topics, from the basics of Bitcoin and cryptocurrencies, to NFTs, metaverse, Blockchain Games, DeFi and more.
Organized by Hathi Estúdios and by Felipe Escudero's Canal BitNada, Bit In Rio by 2GOFintech joins Cointelegraph and ao CriptoFácil to show the relevance of the Carioca territory in the crypto universe. In addition to lectures, the event will feature companies and projects that help build the cryptocurrency universe.
According to the organizers of the event, this will be a unique opportunity to learn about platforms, products and protocols. In addition, it will be possible to ask questions with company teams and consume a lot of specialized content.
Bit In Rio by 2GOFintech is sponsored by: 2GOFintech (master), BitPreço, Bitcoin Todo Dia (Fort Exchange), KriptoBR, Biscoint, Bitwage, CliptoPlanet, CriptoSelect, CriptoBeer and ProBit Global.
