How NFT.NYC grew into the Super Bowl of NFTs, according to its co-founder

NFT.NYC has been called the Super Bowl of NFTs. True to this accolade, NFT.NYC is the largest and most respected NFT conference in the world. Celebrating its fourth year, the conference returned for a three-day in-person event that brings together fans, influencers and developers of NFTs. This year’s event attracted more than 15,000 artists and enthusiasts, and more than 1,500 speakers at multiple venues in the heart of New York.

Nevertheless, the climate around this year’s event is significantly different than in the past. We are in the middle of a historic bear market in crypto. This “crypto winter” has wiped out trillions of dollars in value from BitcoinBTC
EtherETH
eum, and thousands of other cryptocurrencies. The market downturn has inevitably dampened some mainstream users’ enthusiasm for crypto as an asset. However, the long-term promise of NFTs to fundamentally transform remains intact. We have only scratched the surface of the ways NFTs will define the future. Right now, NFTs act as records of digital ownership and enable authentication and verification of ownership of assets. In the future, NFTs are slated to expand to become staples in industries as diverse as real estate, insurance, and publishing.

Gives the NFT community a voice

Jodee Rich, one of the co-founders of NFT.NYC, looked back at how the conference has grown over the years. “NFT.NYC started in 2018 when I had dinner with Devin Finzer, co-founder and CEO of OpenSea, and we discussed how excited we were about NFTs and how difficult it was to explain what they are and what they are not,” said Rich. “We decided to give the community a voice, and that remains one of our core values ​​today.”

Amid waves of criticism and skepticism surrounding NFTs more broadly, NFT.NYC’s commitment to giving the NFT community a voice, bringing the community together and educating the global market about the value of NFTs resonated with NFT.NYC patrons. Attendees continue to flock to NFT.NYC. for the unique opportunities to rub shoulders with people working on similar projects, and collectively educate the global community about the value of NFTs.

The looming opportunity for NFTs in media and entertainment

Rich says this year the event’s Brands track – one of several tracks – that focuses on how brands can effectively embrace NFTs and Web3 includes more speakers than the entire 2019 event. As CEO of NFT.Kred, a platform where brands like Coach, Christie’s and Gucci offer NFTs in a simplified user experience for consumers, Rich has helped countless brands launch NFT offerings.

NFT.NYC is likely to draw a particularly strong audience from media and entertainment players. Media and entertainment companies have been among the earliest adopters of NFT technology, including more traditional retail outlets. Traditional media platforms such as Associated Press, Time Magazineand CNN have all embraced NFTs as important revenue streams.

Even legacy players in the entertainment and live events industry have been eager to launch NFT strategies – not only to diversify their revenue streams, but also to provide better and more unique fan experiences. Rich points to Live Nation as a notable example with its Live Stubs initiative that gives fans NFTs as part of their ticket purchases. Live Nation CEO Michael Rapino has said that Live Stubs brings back “the nostalgia of collecting ticket stubs, while giving artists a new tool to deepen their relationship with their fans.”

Through NFT.Kred, Rich also works with big names in sports and entertainment to harness the enormous benefits of technology for everything from event ticketing to empowering content creators. Indeed, Rich sees a huge opportunity for NFTs to drive significant innovation in live events and experiences. “You can keep an NFT in your wallet that also gives you access to an in-person event when that NFT ticket is scanned,” shares Rich. She adds, “the artwork can change and transition into being a memorial that will live on as a memory of that event forever.” Rich also points to opportunities to use NFTs to communicate with fans after live events for “special digital access, merchandise discounts and other fan club benefits.”

The limitless future of NFTs

While this year’s macroeconomic climate may dampen enthusiasm for NFTs in general, those in the know acknowledge that this is a long-term play with limitless possibilities. Beyond media and entertainment, Rich sees NFTs radically changing nearly every sector. “NFTs are going to disrupt most industries – identity, ticketing, brands, music, fashion, real estate and more. We’re still at a very early stage. This is the beginning of a long-term trend.”