The annual NFT conference NFT.NYC, one of the largest non-fungible token events, kicked off its fourth anniversary, celebrating the diversity of NFTs across 16 sectors, including art, film, sports, and ticketing.
NFT.NYC is a three-day conference that started on June 20 will end on June 23, 2022, and will serve as a global melting pot for everybody within the NFT space. The blockbuster event features 1,500 speakers across different panels such as talks, fireside chats, and hundreds of pop-up events.
While expressing expectations for the NFT.NYC event, Jodee Rich, the co-founder of the NFT event, said in a short interview that he expects attendance figures to soar from last year’s 5,600 to more than 15,000 this time around.
Rich used his opportunity to discuss how the current market conditions could impact the momentum of the NFT movement and the artistic conversation it cultivates. Elsewhere, the team behind the NFT.NYC has selected 221 emerging international artists from an application pool of 5,000 to display their artwork on a Times Square billboard throughout the Marriot Hotel, the venue of the NFT conference.
The summit will allow artists to mint their artwork at a price of their choosing and retain 75% of all revenue generated from the primary NFT sales. Rich did not share the specific details of NFT purchasing. While commenting on the ubiquitous community of NFT fanatics expected to converge on the Big Apple, Rich shared:
“Our thing is about giving the community a voice. That’s what we wanted to do since the beginning. We’re not an event that goes hunting for celebrities — we want the community to feel that this is a place where they can be on stage and talk to the rest of the community.”
NFT.NYC Conference To Empower The Youth
The conference aims to empower youth and passion with an introduction of Unconference, a non-scheduled stage welcoming all guests for a 10-minute slot to share their ideas and vision for the NFT space.
Layer-1 Ethereum blockchain is the most integral asset within the NFT space, incorporating various NFT projects. Unfortunately, its floor price has plunged more than 35% in the past seven days following the recent crypto market crash. The second-seeded digital asset after Bitcoin is oscillating around $1,200, at the time of writing.
Notably, the recent market crash has attracted cascading consequences on the floor prices and purchasing sentiments of the leading NFT collections, especially profile-picture projects.
Before summarizing, Rich spoke about the potential impact of the recent market crash on the NFT market. He said that despite the recent market crash, art remains the primary utility of NFTs and that his excitement remains for the connections and friendships that he found at the event.
Quinn Button, the vice president of NFT.NFC, concurred with the assessment that countless use cases for utility would be showcased throughout the different sectors, highlighting that the music industry is a sector on the high watch for more use cases:
“I think one interesting utility of NFTs will be how they will disrupt the music industry, whether that’s royalty rights, merchandise, or generating new revenue streams to really connect musicians with their fans.”
Notably, non-fungible tokens (NFTs) have come into the spotlight this year for their relationship in supporting Ukraine’s humanitarian relief efforts and cultural diversity agendas. Indeed, Ukraine has amassed more than $100 million from NFT donations.
During the NFT.NYC, panelists will cover controversial topics related to the digital realm, such as sustainability, mental health and wellness, and philanthropy, across 28-panel discussions.