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

Established in 2019, the annual NFT.NYC conference will be held in London from 3 to 4 October. The opportunity to discover the innovations of tomorrow related to NFT and DAO.

It is in the historic district of Westminster, in the six-story enclosure of the Queen Elizabeth II Center, that Web3 professionals have made an appointment since Thursday 3 October for the NFT.London, the first European emanation in the history of the NFT. NYC, an annual New York event entirely dedicated to NFTs and their applications.

Despite an intense weekend for the Lisbon Web Summit (still a priority for the most emblematic companies in the sector), over 600 speakers took place for two days in front of an audience of 2,500 people. The event consists of a series of very concise round tables, lasting from ten to twenty-five minutes, led by entrepreneurs, actors and observers of the Web3 ecosystem; an effective format to overlook the many use cases of NFTs, unfortunately less so to deepen the topics, especially since the program offers three to four conferences at the same time and therefore imposes choices.

“No revolution in Web3 games yet”

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

Booth of the Immutable X network at the Queen Elizabeth II Center. © Jérémy Le Bescont

During his first keynote, he details the systemic challenges and obstacles to integrating Web3 concepts into games, primarily technological frictions such as the need for a wallet for the user or the ability of networks to support thousands of connections. We haven’t yet “seen a revolution among Web3 games,” he says, discussing the first generation (Cryptokitties) and second generation (Axie Infinity, Gods Unchained) games, before introducing the alleged Illuvium, Guild of Guardians and Midnight Society embody a third generation able to interest the vast audience of gamers.

In the course of the various discussions, it is very clear that if the Web3 aspires to end the hegemony of the GAFA by sharing the proceeds with the public of players, listeners and spectators, for the moment this is still done. and the promises of revenue sharing, data protection and decentralization alone are not enough to attract it.

The Immutable network is in fact based on the abstraction of the notions of blockchain, wallet and cryptocurrency, a paradigm shift assumed within most of the round tables, such as the one entitled “Valuing popular culture and creating a new economy thanks to NFTs” , during which British journalist Conor McNicholas readily admits that the term NFT was “terrible from a marketing point of view for adoption by the general public.”

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 about to disappear,” insists the former editor of NME. Like this physical NFT distributor placed in front of the building, the sector therefore wants to take care of the form to make it more accessible.

In addition to adoption by the general public, the NFT.London is an opportunity to ask other questions that are now concrete: the integration of digital assets in an inheritance, the traceability of a physical asset through a digital passport or various taxes according to legislation.

Due to the brevity of the discussions, it is still difficult to draw substance from it and this is the great black point of this event, yet a revealing mirror of a seething ecosystem.

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