hackCast – NFTs, Art & Blockchain

hackCast - NFTs, Art & Blockchain 1

Hey guys, yesterday (Mar 1) our first hackCast took place on the Clubhouse app. 

For the first topic we selected – NFTs, Art & Blockchain as the most controversial, hyped, and twisted.

Our guest participants were Milen Radkov(Founder and CEO of hack – DLT & Blockchain Solutions) and Luka Sučić (Partner at Meta Change Capital)

Many Blockchain enthusiasts have attended the event and joined in the discussion, but for those of you who couldn’t attend or miss it – here is a brief summary of what we discussed and what questions we covered.

We started by examining the NFTs applications in the real world. Gaming, Supply Chain Music, and Art were some of the industries that were covered. 

“NFTs have a lot of uncovered potentials.

It was very interesting to follow different art, designer and digital creators, starting to embrace NFTs as a new way to monetize their work as blockchain is becoming more accessible to a wider audience.”

Milen

We discussed the element of subjectivity in art and  Who decides what is the value of an art piece that is an  NFTs of some sort?

“Well, basically, market, just like in the regular space, if someone is willing to pay.

A banana taped to a wall for $120 000, if someone is willing to pay for that, then that is the price. The price covering the NFTs art is working with the same mechanism as the regular art only a bit fancier”.

Luka

Some of the key moments were when discussing existential and pragmatic questions like how digital art is going to be presented to the world, how you will “hang it”  and how the trend should be set.

“We’re talking about virtual space where you hang it in the middle of your wallet, it’s because the first thing somebody does is check out your wallets. And to see what are you holding crypto, and also NFTs. So, it’s like, inviting people to your house to see your artwork, but in your wallet.”

Luka

Or just imagine some virtual museum tours around digital art emerging out of this non-fungible tokens hype. So I think this from one side, it’s too difficult to grasp from the traditional art that we’re used to seeing. But from other perspectives, it brings up a lot of new models that may emerge as businesses and as ways to communicate or to cherish or see art in general.”

Milen

The rest lies within your imagination 🙂

We debated about what is behind the hype and why there is hype behind it. 

“And my opinion is that it represents a unique way of earning money for people who were basically, we have gatekeepers all around them, musicians, artists gaming, but anything that is expressive, which was unable to be directly monetized, and now it’s monetizable.”

Luka

We concluded that every generation has something of its own. Now real artists have many new exchanges and platforms that are emerging that are allowing them to create or trade or invest in portfolios. Now, after several years of development, the user interfaces and the whole user journey and flow are smoother than it was once.

But still, there is a lot more to go. And we think that’s also a topic to be brought up.

Is this the optimal way to use NFTs? Or should it be more simple for people or users or regular non-tech people? For example, someone that is not technically advanced? Why shouldn’t they use NFT’s in digital arts or digital collectibles of some sort? And what is the next big thing for NFTs? 

Those and more questions were on the agenda for our first hackCast. But we want to hear your opinion on the topic as well. Comment below or contact if you have some interesting idea you want to share.

We thank our first guests Milen and Luka for the interesting conversation and the friendly and congenial atmosphere they created.

We are looking forward to the next hackCast!

Stay tuned!

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