NFT NYC Conference
As the world of crypto-currencies expands unabatingly, providing newer option by each passing day, introducing new tokens into the market and technology that unleashes new potential, a new concept has risen on to the realm of crypto-verse. A concept, closely related to the ERC721 crypto-currency standard, known as ‘’Non-Fungible Tokens’’ has been making news in the markets and is becoming another field to explore.
Non-Fungible Tokens, in essence, offer another quality to its user i.e. it is virtually different from all the token of its kind (Blenkinsop, 2018). Each NFT Token has some unique information, or some metadata, which makes it different from other tokens. For example, if you transfer a Bitcoin to someone, and get back another Bitcoin, it would be apparently same. This is not the case with NFTs, as each NFT Token contains an element of uniqueness. Previously, ERC-20 tokens had taken the crypto-markets by storm and were being largely used. However, the world of crypto-currency will shortly see a paradigm shift towards newer technologies, including NFT tokens.
To promote the understanding and usage of Non-Fungible Tokens, a conference by the name of NFT NYC Conference 2020, is going to be held on 20 February 2020, in New York, United States. This conference is an annual continuation of its previous event of NFT NYC 2019, which managed to gain quite an attention of the community and promoted the NFT tokens successfully.
This year, NFT NYC 2020, will bring together gamers, influencers, developers, artists and crypto-community at large to discuss and promote the usage and possibilities of NFT Tokens. The conference will likely increase the confidence of people in the technology, which will consequently impact their experiences of ownership and identity with digital assets. The key speakers include Alex Atallah (Co-founder of Open-Sea), Amanda Cassatt (Advisor to ConsenSys), Perianne Boring (President Chamber of Digital Commerce), and Jamiel Sheikh (CEO of Chainhaus), among many others (BlockSocial, 2020). The conference will surely garner the attention of the community as it is supported by media partners like CoinDesk, Crypto Briefing, AMB Crypto and Forbes (NFT.NYC, 2020).
As ERC-20 blockchain standard enabled many developer to design, develop and launch their own decentralized applications (dApps) on to the network, many dApps have been made to facilitate the crypto-community. Likewise, CryptoKitties is a decentralized app which was developed by Axiom Zen in 2018, and was an early endeavor to deploy blockchain technology for recreation and entertainment purposes. It is based on the Ethereum Blockchain network, where cryptokitties serves as a non-fungible token, unique to each CryptoKitty.
The main theme of the game is to buy, sell and breed virtual cats over the network. As each CryptoKitty is backed by a Non-Fungible Token, all cats are different in their aspect, and are irreplaceable by others. The virtual creatures cannot be replicated, taken away or destroyed by the user (CryptoKitties, 2017).
While it only looks like a game to many, it is true that one CryptoKitty was sold for as much as $140,000 USD (CryptoKitties, 2018). Now this raises many questions as to what it is there to spend so much on a virtual item. The answer lies in the fact that it is not a game item only, rather a technology on its own. CryptoKitties are a new form of digital art, which allow the preservation of ownership, limit the supply of items, and ensure safeguard against fraud, among many other benefits.
CryptoKitties have announced special collaboration with singers, artists and other developers for the NFT NYC 2020. The users will see the unveiling of many exciting news, events and prizes worth $100k USD from the CryptoKitties application end, on 20 Feb, at the NFT NYC Conference (Moore, 2019).
CryptoKitties has also collaborated with Josie Bellini and other dApp developers to lauch a gaming puzzle trail known as Yours Truly. The participants will compete to find clues in the crypto universe to find the hidden prizes including 10 Ethereum Tokens and over 30 NFTs.
Grow Your Base
Another fundamental platform getting featured in the NFT NYC 2020 is ‘Grow Your Base’. Grow Your Base is a website that serves as a marketing platform for different dApps and brands, enabling them to sell more products.
The working of the website is really simple. It provides a platform to unite token issuers and users, to increase their interaction. The users can connect with and support tokenized projects, and on this basis, they get rewarded for their activity. Tasks like subscribing to a NFT’s newsletters, sharing dApp’s links on social media platforms like Twitter, Facebook and Instagram, or inviting more people on to the network allows one to earn rewards. The rewards include unique gaming collectible assets (backed by NFTs), stable-coins or cash-flow producing assets.
The platform is on track to launch over 200 digital asset campaigns through its website, inviting users to help the network grow. This is exactly where new businesses face the issue. Creating a technology is one thing, educating and connecting your product to the end users is a whole new challenge. Here, GYB comes into play, as it helps different brands to grow and sell more products actively. The network, as claimed, reaches to over 2.5 million consumers, who each in turn focuses on to increase their active followers and consequently maximize their rewards and revenues. If you would like to sign up on the GYB platform Go here: https://www.growyourbase.co?mwr=3eea7c39
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