NFTs are attracting all eyes, including from companies and large corporations that will begin to reinvent themselves with their technology, believes ConsenSys founder Joseph Lubin.
The tokens not fanointable o NFT, which began to develop between 2012 and 2013 in the blockchain de Bitcoin, have gained great popularity since last year, becoming one of the most coveted digital assets by collectors and traders within the crypto industry. Now, beyond their commercial value, Joseph Lubin, founder and CEO of the blockchain firm ConsenSys, believes that these digital assets are beginning to attract the attention of companies and corporations, which can make use of their technology and potential to reinvent their business models, create new business use cases and find a new meaning within the digital industry.
According to Lubin's statements during the conference virtual anniversary of the Enterprise Ethereum Alliance (EEA) organization, “NFTs are doing a great job of getting businesses excited” to discover all its benefits and potential.
The founder of ConsenSys, a company that helps several countries around the world develop their own blockchain-based digital currencies, believes that the benefits of NFTs go beyond the tokenization of works of art, which is why they are already beginning to scale within the media industry, the financial industry, and the fashion and design industry, among many others.
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Intellectual Property
One of the most notable and widely appreciated benefits of NFTs is their ability to represent and protect the intellectual property of artists, creators, collectors, investors, and more. For the CEO of ConsenSys, this quality can be very useful for companies in the media sector. In fact, Lubin highlighted that many companies within this industry are already beginning to venture into NFTs, such as CNN, The Associated Press y Media Publishares, which is about to launch its own platform for minting, trading and auctioning NFT tokens.
Other major corporations in the media and entertainment industry, such as FOX y Warner Bros They are also testing new products within the non-fungible token ecosystem to capture the attention of millions of fans.
Non-fungible finance
NFTs have great potential within the financial services industry, especially in DeFi, where they will help boost the economy in a transparent and trustworthy way. Blockchain expert Jordi Baylina agrees with Lubin that NFTs are an essential piece to awaken the true value of things within the financial system.
Axie Infinity, the most popular blockchain game in the crypto industry today, is perhaps the most complete example of the power of NFTs. Through Axie, entire communities in the Philippines and many gamers in Venezuela have found a way to generate real value, creating new digital economies to escape the economic crises they face, while developing a metaverse without limitations.
Lubin highlighted that a large part of the 400.000 active users within Axie are based in the Philippines. Many of the Filipino citizens prefer to spend their time playing within this digital platform where they can earn up to 5 times the minimum wage in force in the country.
Mastercard and NFTs
Thanks to the success of NFTs, the multinational financial services company Mastercard is promoting a new NFT acceleration program to provide advice and support to initiatives that are developed within this ecosystem.
The new edition of its Start Path program will focus on promoting projects and initiatives focused on blockchain, cryptocurrencies, and NFT, the company reported through a releaseFor Mastercard, the creation of a new inclusive NFT marketplace will provide millions of people with the opportunity to participate in this ecosystem, without needing to have blockchain knowledge.
Startups GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus and Uphold are the companies participating in Mastercard's blockchain acceleration program. Of all of these, Mintable is the one developing the new NFT marketplace to facilitate, expand and accelerate the innovation of new digital asset technologies.
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