It will be a catalyst for changing the vested interests of NFTs

Attendees at the “Hankyung Global Market Conference NYC 2022” hear an explanation of the artworks that will be auctioned by an expert at Christie’s headquarters in New York, USA on the 5th (local time). New York Special Reporting Group

“The art and asset auction market, which was previously listed by a few people, is turning into a market in which millions of people participate with the advent of non-fungible tokens (NFT). The NFT will be a catalyst for changing the wealth establishment in the future. “

At the ‘Web 3.0 Seminar’ held by the Korea Economic Media Group at Christie’s headquarters in New York, the largest art auction company in the United States on 5 (local time), global NFT experts gathered their opinions. This seminar is the first event of the “Hankyung Global Market Conference NYC 2022” held locally by Hankyung Media Group to commemorate the 58th anniversary of the founding of the Korea Economic Daily and the 1st anniversary of the launch of Hankyung Global Market. This is the first time a Korean media outlet has held a large-scale investment conference in New York, the center of the global financial market. The event was attended by around 100 people from Hankyung’s investment delegation, including business executives, institutional investors, high-income workers and financial company executives.

Nicole Muniz, CEO of Yuga Labs, which runs the world’s largest NFT project “The Yacht Club of Boring Monkeys (BAYC)” and Marcus Fox, global CEO of Christie’s, an art auction company. The industry giants got together to discuss the future of NFT. Muniz’s CEO, who appeared as a presenter, said: “NFT is changing the whole concept of utility. Rather, they are helping to increase the use of NFT and create their own identity.”

Chae Dae-gwon, general partner of Bond Capital, a US venture capital (VC), predicted that “just as smartphones have changed the concept of time and space, NFTs will also revolutionize the way property values ​​are provided. “. Fox CEO said, “It has already become a game changer that changes the concept of the industry in art auctions and the luxury market.”

The “Hankyung Global Market Conference NYC 2022” will be held until the 7. On the second day, on the 6th, a large number of famous Wall Street celebrities such as Howard Max, president of Oaktree Capital, will appear as a speaker to give a conference on trends in the market. macroeconomic and financial market and investment strategies.

“NFT will change everyday life from art to real estate transactions and corporate marketing”
‘Web 3.0’ seminar to change the world

The “Hankyung Global Market Conference NYC 2022”, which diagnoses the global market and seeks investment opportunities, will be held in New York, USA from 5 (local time) for 3 days. At the “Web 3.0 Seminar” held at Christie’s headquarters as the first event, attendees hear a presentation from Marcus Fox, Christie’s Global Managing Director. New York Special Reporting Group

At the “Hankyung Global Market Conference NYC 2022”, which opened on the 5th (local time), the world’s masters of non-fungible tokens (NFTs) gathered in one place. In addition to the companies leading the world’s largest NFT project, the world’s largest blockchain media and senior officials from the No. 1 in the world had a heated discussion about the future of NFT.

They predicted that “NFT will have a broad impact on the real economy, such as investment in art, real estate transactions and corporate marketing, to change people’s daily lives.” Even if market conditions will be tough in the future, NFTs armed with originality and solid storytelling will shine.

○ NFT to expand the area

CoinDesk chief content officer (CCO) Michael Casey presented the “Web 3.0” seminar today and explained the future of blockchain and Web 3.0. Web 3.0 refers to the next generation Internet characterized by decentralization and individual ownership of content. NFT and DeFi (Decentralized Finance) are representative examples.

Casey CCO first identified the differences between Web 2.0 and Web 3.0. She pointed out: “Korea created a two-way communication platform called KakaoTalk and Google and Amazon created ‘Web 2.0’,” she said. “Web 3.0 is solving the Web 2.0 problem where the copy cannot be recognized by allowing you to distinguish the original from the copy,” she explained.

Casey CCO sees that the concept of ownership can be expanded through NFT. He pointed out, “As ideas continue to evolve and information increases, ‘data mining’ that covers the weight of information becomes important. He continued:” NFT provides a unique digital ID and identification number so that it varies. rights can be exchanged.

○ “Storytelling is the power of NFT”

In the discussion following the announcement, the “bored ape yacht club (BAYC)”, which is currently considered the largest NFT project, attracted attention. That’s because Nicole Muniz, CEO of Yuga Labs, which runs BAYC, first appeared at a national event.

BAYC is a collection of 10,000 Ethereum-based NFTs. Anyone who owns this NFT can use the intellectual property rights commercially and can participate in various events to which only the owner is invited. It has become the most famous NFT in the world since it was bought by famous American celebrities such as Justin Bieber, Madonna, Eminum, Paris Hilton, Snoop Dogg and Jimmy Fallon. It is said to have recorded more than $ 1 billion in sales so far.

Muniz CEO, who attended as a speaker, explained: “Web 3.0 has become the mainstream of culture due to COVID-19.” He introduced: “With the COVID-19 situation, 9 out of 10 people have experienced telemedicine for the first time and school lessons have also been conducted remotely, with the result that many people spend more time online.” He continued: “Through Web 3.0, I was able to find my identity online and claim ultimate ownership,” he said.

“People spend hundreds of thousands of dollars to buy NFTs,” Muniz’s CEO said. “You might think we’re stupid people making stupid products, but it’s clear we’re making interesting stories and creative things,” he said.

○ “NFT’s long-term prospects are bright”

Venture capital executives who invested in Yuga Labs also attended. “Unreasonable things have happened in the NFT market over the past two years and many investors have gone into it in search of short-term profits,” said Chae Dae-gwon, general partner of Bond Capital.

The speakers agreed that the direction of NFT development was important. Casey CCO predicted: “The size of the NFT market can change depending on whether it will turn into a right to simply brag or have the right to perform on the Internet when you own it.”

New York = Correspondent Jeong In-seol / Correspondent Lee Ho-gi / Jung So-ram [email protected]

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