Covering the WXRShow NFT session – by the Agefi
The launch of WXRShow took place at Les Roches campus in Crans-Montana on May 31, 2021. Although it was not open to the public, it was filmed and teased live on Instagram @worldxrforum. The full show will be premiered on June 7, 2021.
The Agefi was present during the day, and highlighted the first session, featuring Matthieu Quiniou, Touradj Ebrahimi, Arielle Dubois and Salar Shahna, in their journal on June 2, 2021. The debate was on non-fungible tokens (NFTs), certificates of ownership for digital art which use the blockchain for validation.
What are the challenges of NFTs today?
With the recent purchase of an NFT for over sixty million dollars, we have to ask ourselves if this type of “product” is sustainable. Can we be sure these certificates will be around for the next twenty to thirty years? Touradj Ebrahimi suggested that now is the time to define the major standards of NFT 2.0: how will it impact the environment, what ethical guidelines and regulations it requires, and what interoperability norms need to be set up to allow the certificates to be transferred from one platform to another securely.
The tip of the iceberg
Today digital art is viewed as being images, audio and videos exclusively, but they are only the tip of the NFT iceberg. The potential is enormous, unexplored, and with AR and intelligent glasses, we are moving towards a world where there is no longer a need for physical objects.
XR, for extended reality, is a portmanteau word which focused on virtual (VR), augmented (AR) and mixed realities (MR) in the past, but has widened due to the pandemic, because the dematerialization of the world has reached a whole new level.
Salar Shahna, President of World XR Forum
The emergence of Chinese buyers
Matthieu Quiniou reminds us at the end of the session that with their restrictions on the crypto-markets, combined with their mass of blockchain miners and the imminent implementation of the e-yuan, we anticipate an enormous appetite for NFTs from China.