“NFT? What is it?” At the last row of the PwC auditorium, this Wednesday night, a gentleman of more confident elegance than his knowledge of this new technological eldorado wonders aloud.
Nearly 200 people attended the first Big Four event on the metaverse, organized by Thomas Campione, with probably very different levels of knowledge, from consultants themselves to VCs, entrepreneurs such as the promoter of the first Luxembourg metaverse, the Duchy, Mathias Keune, institutions such as. as the European Court of Auditors, lawyers and “financiers”.
They will leave the event with one certainty: there is still much to be done to understand the legal, regulatory, financial or entrepreneurial sources in these digital universes, where the first projects are more than 20 years old but flourishing in the pace of development of blockchains and connectivity .
“Business to avatar”, model to imagine
If the co-founder of The Sandbox, Sébastien Borget, refused to confirm a new $ 400 million fundraiser that would come soon, which would value the French metaverse at more than $ 4 billion, he also took a risk “marketing” by invite space to go and test its metavers … which are not open to walkers unlike other lesser known platforms. It is still there that PwC Hong Kong bought a piece of land in early January, for $ 10,000, according to some insiders.
Launched in 2012 to build on Minecraft’s success and still under construction due to a blockchain change, The Sandbox just lets you create your avatar based on 39 pre-recorded models, choose an avatar … and buy yourself land for 2,182 to 1.8 billion euros, to take a pass for season 2 to 92 euros or to go down and fall with a few paid options or NFTs from creators in the “game” – the universe has been implemented from its game producer, which allows you to create your own game universe.
From this very large brewing evening, my elegant neighbor was able to draw these few “insights”:
– consultants and lawyers are the first to take a serious interest in the meta-verse, because these universes have de facto created a new business relationship, “business to avatar” analogous to B2B or B2C, and raises a whole series of questions about the digital presence of real companies, about branding and rights, etc.
– David Palmer (Vodafone) discussed the use of the phone number as the most secure and convenient way toidentify a user and establish their digital assets. Not fake, but at a time when Europeans want to use citizens’ digital identity tokens, why not imagine that identity is established on this basis, more neutral than trusting a telecom operator?
– Christian Fisch, researcher at SnT at the University of Luxembourg, called for questioning interoperability. A good question that refers to two different things: Blockchain is booming in a decentralized management perspective that opposes this standardization, and if someone is present on multiple metavers with digital assets, then how do you go from one to the other?
Metaverse creators should, Mr Borget assured, aim for create pleasure for the users and to try to give more value to the users instead of trying to capture the value they are ready to invest in. In other words, the lasting idea should not be that the user spends all his money on NFT at Gucci, present at Sandboxen, but that he gets much more, especially through experiences and NFT.
It should be an entrepreneur who has a business idea in the meta-verse launch its “minimum viable product” as soon as possibleeven if it means having to adapt it more or less extensively afterwards.
Cultural institutions, such as the two museums in Luxembourg, represented by Anne Hoffmann, make sense of their presence in a metaverse and measure its potential effects correctly. And it’s a challenge when you’re a depository for architectural or artistic works.
At Deloitte, the partner of Kamel Amroune’s The Dots in the month of Metaverse had taken a week’s lead by focusing on these digital universes last week, and therefore focused his second meeting on NFTs with one of the rising stars of the subject, Vitomir Jevremovic, developing All-Art Protocol and a VR-All-Art platform. Schematically summed up, it is about giving artists the opportunity to deal with all at once the issues of exhibition, rights and sale of their digital works of art.
Like the Luxembourg platforms ANote Music for music, Stokr for business or VNX, it is a matter of providing liquidity to the market in a completely safe state and respect for the law, including copyright. There is still a lot of ambiguity surrounding the use of “real” works of art in the digital world of NFTs.
It is not a question of telling about an event where we could not be, as it is not open to avatars, but let us hope that the good organizers succeed in agreeing, so that the visibly very marked thirst for knowledge about these topics.
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