Bit2Me's 'Expert Sessions' have added a new protagonist who wanted to participate to tell his professional vision of NFTs and metaverses. On this occasion, Javier Pastor, Sales Manager of Bit2Me and Giovanni Montealegre, Public Relations Coordinator of the company, have been able to chat with Antonio Sotomayor, Head of Blockchain at Finweg, as well as a professor in the Master in Technological Innovation at the University of Navarra.
NFTs, why they have become so popular
For Sotomayor, one of the keys to NFTs (non-fungible tokens) They have gained so much popularity because, previously, “digital goods had no value because they had no scarcity: a JPG could be had by anyone. Now we can start to have a certificate of ownership of that digital asset. Once we register it in a blockchain, no matter how replicable it is, there is a person who is its owner, and that owner can pass it on to another, but that element has value and the artist receives compensation for what he has created, while which is enjoyed by everyone. He is the perfect model really », he explains.
One of the most notable success stories of NFTs, in addition to Opensea, "where 95 or 98% of NFTs move" is through music, where the phenomenon has only just begun. «In the US, the music rights manager has reached an agreement with Consensys to establish the songs on this platform and to share the rights to the performance of the songs. But there are many other models, for example through fan tokens whose owners can listen to the artist's songs, or enter a Discord chat just for them"Sotomayor said.
The most important thing here, he says, is that "the creator of the collection can decide that a percentage of that sale always goes to the original artist, and this is revolutionary. "We have a very powerful tool within very easy reach."
About the Metaverse and its emergence
Facebook with Meta, Decentraland, Minecraft, the old Second Life... the metaverse is back to stay definitively, and we are already seeing how companies are betting heavily on this "new technology." The first was not Facebook but perhaps the most media-friendly. For Sotomayor, "The remarkable thing about Facebook is that it knows how to read the future well. That said, we know that their business is to exploit your data: you give them your life, your content, and they give you their advertisers. "You're not going to see me much there." With its centralization, "everything you do will be analyzed, nothing is yours, it is not your house, not even your friends'."
The key to the metaverse, he points out, "is that it is a shared experience." «If you can have a metaverse experience similar to real life, that's great. One of the keys is democratization: technology has already done it with mobile phones and now also with services, as happened with Spotify and now with the Metaverse, where it is about democratizing the shared experience.
Regarding its uses and risks, Sotomayor gives one of the keys to entering it: «The important thing is to take certain minimum precautions, with a little care to enjoy this technology» and advocates the advantages of new experiences that can be created within the Metaverse without leaving the real world aside. «New experiences can be created with groups that are not so easy to bring together. Although there is nothing like the physical world, here there can be meetings of people and communities with a common interest in a virtual environment where they can enjoy that knowledge," he added.
If you want to know more about the Metaverse, you can learn about it at this free article from Bit2Me Academy.
