State of play of NFTs at the Paris Blockchain Week Summit

The Paris Blockchain Week Summit brought together the world’s blockchain references for 3 days at the Palais Brongniart. A veritable outpost of these technologies in France, all the subjects of this universe have been explored by exceptional speakers. We will come back today to the various arguments put forward about NFTs, the current situation and the future of this technology.

The Paris Blockchain Week Summit in a nutshell

Before presenting the current situation on NFTs in more detail, let’s go back to the figures achieved by this show. Indeed, it is nearly 6,000 participants, 355 speakers, 250 sponsors and 350 media and journalist partners that Chain of Events, the organizer of the show, was able to bring together at the Palais Brongniart.

Source: Chain of Events, @Damien Bresson

The program for these two days, preceded by Betting NFT Day, swept across all major blockchain topics. Indeed, the event was articulated around 4 main issues which are companies and the blockchain, decentralized finance, the 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 of the ecosystem and led to interesting debates on these technologies.

NFT, where are we?

Between pure product of speculation and real disruptive technology, NFTs appeal to different types of profiles. The conference NFT Funds Panel: How NFT Funds Benefit from an Emerging Market » presented how NFT funds approach this market. Renowned panelists, I named Julien Bouteloup, founder Blackpool Finance, James WO, CEO-founder DFG, Drew Austin, Redbeard Ventures and Vanessa Grellet, Coinfound indeed explained their interest in these technologies. Thus, they explained that we experienced a period of euphoria with NFTs, like the ICOs of 2018.

Fad, sustained trend and over-mediatization have combined to make this land a real lottery. Indeed, any collection had the potential to reach sales records by displaying the keyword NFT. As the markets begin to breathe heavily, the euphoria subsides and projects offering real use cases for these technologies are developing. The whole point now is to unearth the nuggets that will be part of the future of this ecosystem.

Then, we were able to attend a discussion on the use of NFTs in the world of sport during the conference “NFTs & Sports: A new layer of fan engagement”. Famous tennis player Patrick Mouratoglou, after presenting his new version of tennis the Ultimate Tennis Showdown earlier, explained alongside other panelists his vision of NFTs to engage a community. Indeed, NFTs now make it possible to bring value and create links within an audience thanks to the blockchain. The general idea of ​​this panel was to highlight the advantage of these new technologies and the place they could occupy in the future.

Take the example of the Australian Open and their NFT collection launched earlier this year. The general public can purchase NFT plots of the digitized tennis court and the impact of the 11 match points from the 11 tournament finals (men’s singles, women’s, doubles, armchairs, etc.) will provide an additional reward to the holder of the winning NFT . An example of the use of these technologies which makes it possible to build a bridge between the real and digital economy.

NFT technologies were honored during these three days at the Palais Brongniart. The Paris NFT Day, the 100% NFT opening ceremony of the show, highlighted the interest of this technological revolution in the ecosystem before giving way to the Paris Blockchain Week Summit. These tools introducing the notion of digital property have suffered somewhat from their reputation, but projects wishing to make the most of them will be fully appreciated by the Web3 community.

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