A couple of weeks ago, our Lead Developer – Nickolas Casalinuovo – flew out to Boston to attend Harvard’s annual Blockchain Conference. Here, experts and professionals from every corner of the industry met to discuss emerging trends, show off their unique projects / solutions, and even hire engineers for upcoming projects. Some hot topics at the event were Layer 1 / Layer 2 blockchain implementations, zero-knowledge proofs, utility NFTs, and DAOs.
To kick the event off, John Wu, President of Ava Labs, gave a keynote in which he discussed his company and journey along with his prediction on where the space is heading in the next 5-10 years. Wu predicted that in the short future, we will see the hyper-tokenization of assets. (Identification cards, tickets, baseball cards, etc.) To those looking to enter web3 and the blockchain revolution, Wu gave one piece of advice: have a fundamental understanding of how blockchain can transform technology and society.
To truly understand how blockchain will affect our society, you have to understand how NFTs can fundamentally change consumerism. Let’s take a look through the lens of Rising Baseball Stars NFT. If asked about NFTs, people who have heard the term may reference the Bored Ape Yacht Club (BAYC), CryptoPunks, or some other profile picture (PFP) collection. However, the utility behind the token itself can extend far beyond just a picture on a screen. In the case of RBS, an NFT is a membership to an exclusive baseball club that gives opportunities to attend real-world events and professional baseball games. It’s also a coupon for future player card mints. It also holds utility through governance of the platform. Evidently, an NFT can be more than just a JPEG file.
The actual technology behind NFTs are what make it so desirable. Although the detail may be too nuanced for this post, let’s just say the technology is more secure and reliable.
All in all, the event was brilliant. The general energy of the space is exhilarating, and it almost feels like we’re back at the beginning of the ‘.com’ era.