Binance Blockchain Week 2022: Day 2 Highlights
How can leaders navigate the NFT and Metaverse world? See what the COO of The Sandbox, Sebastian Borget, and others have to say about the digital future on Day 2 of Binance Blockchain Week.
On Day 2 of Binance Blockchain Week, a packed venue looked to better understand the rapidly growing worlds of GameFi, NFTs and The Metaverse.
Just what are these new technologies? How will they help push the industry forward? How can you get involved?
These were among the key questions that looked to be answered by today’s agenda of leading industry speakers.
Missed the first two days of the event? Add a reminder so you can catch the final day live.
Key Highlights at a Glance
Who’s building the infrastructure for Web3? Decentralized projects or centralized companies?
“Web3 is a journey” – William Quigley, Co-founder and CEO of Tether and WAX
You may have heard of Web3, especially if you tuned in to yesterday’s panel discussions, but have you ever wondered about the people behind the Web3 story.
Here’s what our panel had to say as they debated the roles of decentralized and centralized companies building Web3.
“Developers, developers, developers.” This is what Timothy Lewis, CSO of Tea, highlighted as a key element for bringing Web3 to life. With the endless possibilities of applications that can exist in Web3, it’s no surprise that having more developers is essential.
Given the control and ownership that large companies may have to surrender to become part of Web3, William Quigley, Co-founder and CEO of Tether and WAX, predicts that indie developers, rather than centralized companies, will start to embrace and build Web3 sooner.
He did, however, leave the audience with one exciting line: “Every industry in the world will ultimately embed NFTs in their business.”
Bringing finance to the masses with a DeFi future
“The one thing needed for DeFi mass adoption? Time.” – Denko Mancheski, CEO & Founder of Reef
How are projects trying to encourage DeFi adoption?
In building this new generation of products, the needs of the user come first. Three elements were raised by the panel – user experience, a scalable environment, and liquidity.
Developers building products are more open to receiving feedback from users who encounter difficulties or confusion, allowing them to optimize and improve. To counter unfriendly user interfaces, projects are also putting more thought into designing simpler, more minimal products and software that can be used by anyone.
On the tech side, projects are also dedicated to creating a scalable environment for developers and traders who want to be involved in DeFi.
Finally, due to the sheer number of stablecoins in the market, there is an issue of fragmented liquidity. Hopefully, in time to come, this will converge to a few key stablecoins that can power the DeFi future we envision.
Keynote Speech: Sebastien Borget, Co-Founder and COO of The Sandbox
“The Metaverse will provide richer, more social, more immersive experiences for everyone.” – Sebastien Borget, Co-Founder and COO of The Sandbox
Almost a second life, the Metaverse promises to expand the universe you know today, and The Sandbox is one of the projects that’s building that virtual space for you.
Ever thought about running around the Sahara desert as a tall blue alien? Maybe not. What about accessing an exclusive concert or being in the front row of your favorite sports event? In the metaverse, the possibilities are endless. For The Sandbox, these possibilities coalesce in the joy of unleashing our childlike imagination to create our own avatars, and then using them to interact with buildings, communities and events online.
Speaking of being online, how many of us are guilty of clocking hours upon hours of screen time? Here’s some food for thought – Wouldn’t you like to be rewarded for spending time on the Internet? This is where the Metaverse economy comes in. Users can monetize gaming experiences made while they are online, essentially allowing them to work and play at the same time.
Now that’s the dream.
Beyond the NFT hype (successful use cases)
“The concept around NFTs is no longer just speculative.” – Joshua Ho, Co-Founder of QCP Capital
NFTs have evolved from being merely a mode of speculation to become more integrated in businesses today.
Founder of Hypebeast, Kevin shared his joy of flexing and flipping limited-edition sneakers, and likens it to NFTs. Those who have the same fashion passion will definitely understand his enthusiasm.
As Kevin said, “We like NFTs because it’s fascinating. We want to support emerging artists.”
But the main draw of NFTs for him? Full ownership. Contrary to traditional art, where ownership hands once the art has been sold, NFT changes the game and captures more of the work the artists have put out into the real world.
Also in the fashion industry, Natasha Damodaran shared how Vogue Singapore, launched in the middle of the global pandemic, cleverly used NFTs to transcend traditional fashion. Vogue Singapore pushed boundaries with its first NFT Collection in order to position itself as a leading brand that inspires a modern lifestyle.
And it doesn’t stop at fashion. Any type of creator can focus better on doing what they do best and bring their art to market with the readily-available tools that have emerged from the NFT space. With a spark of inspiration, you too can create a work of art while ensuring full ownership with NFTs and blockchain.
Join us live!
It’s your last chance to listen and learn from innovators and industry experts! Check out our agenda for the last day of Binance Blockchain Week 2022. Don’t miss out on the biggest blockchain event of the year.