the most popular use cases for nfts today and how they have been like utilized in various industries
uh yeah so it's like actually that one great thing because you know the uh there's still
like some sort of like a um let's say some sort of like a point in a lot of people's heads like
who are not so close within the nft um world i would say that as for now the nft is in the
world when you just look at it like a years ago it was like just a digital art and that was
everything people were just by a crypto punks or bases and stuff like that but the best thing
about the nfts is that actually they have like a great um ways that you can adopt them so i'll give
you like a few ideas of the industries that um you can use actually for this purpose so the first one
of course as i already started with art i would say the digital art and collectibles so nfts actually
made some sort of like revolution within the art world by allowing the artists to tokenize their
digital creations and this enables artists to sell their work directly to collectors and retain more
control over their arts value so they don't need some sort of like a middleman's like the gold uh art
galleries and other marketplaces because they can say a direct sell those art directly to
its users and i say i think that's the best way because you know what you're getting you know from
from who you are getting it and you got like a direct connection with um the artist so i think
it's like the best way that how we can make it another industry that i pretty like and i'm huge fan of
it's one of my favorites actually gaming and virtual assets um so going into the nfts using video games
to so they can represent unique in-game items like skins um characters or some sort of like a virtual
real estate uh so gamers can buy and traders assets both within and outside the game ecosystem right so
i guess that it's like a huge change for the whole gaming industry because for example uh i don't know how
many of you guys here is like a uh gamer but if you look at the time for example you're playing like a fifa
you're playing um some sort of other games when you need to use like some sort of like in-game assets
when you buy a fifa and you play for example you played fifa 2022 people 22 actually um for like
400 hours and uh then is there is like a new one coming uh on the market so your assets actually that
you collected over the time strike a team your players the assets that you were just spending a lot
of money and time they are just staying in the game and there's like they're worthless but when
it comes to like um using an fts in game you can just actually benefit from the time that you spend
and invest in the game and you can just trade them off of the market like on the in-game assets and when
you just think okay i'm i've got enough i don't want to get rid of the game you can sell your assets
and it's like some sort of like investment of your time that you can actually monetize on the
secondary market i would say uh another industry that is pretty uh cool to do and i actually bought
like a few of those um things it's like music and entertainment so it's pretty similar to digital art
but you know when it comes like musicians and content creators they can tokenize the music videos
and other digital medias allowing um them to sell and monetize their work directly to the fans
so nfts also can have like some sort of like a royalty tracking and automatic payments so like
that's also a great way how you can just make some sort by like your favorite artist um tracks or the
or even like a full album and you can just have like one of ones that is only for you and you can also
benefit by selling it on the secondary market or just have it like your unique token and another
industry i would say is collectibles and memorabilia it's traditional collectibles such as trading cards
sports uh sport cards and vintage items that can be digitized and sold as nfts making them more
accessible to a global audience and another one that is actually uh booming in like recent months and
years i would say it's uh virtual real estate and metaverse development so for example um nfts can
represent um ownership of virtual lands and properties in a metaverse project uh so this can lead to
development of virtual worlds an ecosystem where users can build trade and socialize so that's a great
way when we are heading so you know it was like a lot of people who are spending a lot of time online and they want to
socialize with other people like all the web 3 industry i would say it's very keen to meet other
builders meet other people for community members and i just want to let's say get like in touch with
them and build relations right and another industry that i think is like pretty um booming and i think
it's something that it's pretty great and can have like a lot of use cases in the future is like fashion
and luxury goods and because you know there's like a lot of luxury brands that experimented with the
nfts to create like digital fashion items accessories like so for example if you even look like on the
on few metaverses that are already live you can find like adidas shops in it nike shops like gucci's
and other brands that you can not only buy uh in the let's say the physical world but you can also wear
those clothes and accessories in a metaverse so you can create like one-to-one yourself within the um
within the fictional or like in-game uh assets that you can reuse in a in a metaverse for example
um and also you know the nfts when it comes to like luxury goods and fashion uh can unlock exclusive
physical products for yourselves or like access to experiences or even you can get some sort of like a
uh access to some sort of like a private events that are only managed uh to get to be invited if
you're a holder of the nft and another thing uh it's like tokenization of real world assets so for
example real estate that already mentions like the fine art and even shares in the companies can be
tokenized as nfts that allows like uh give you like a fractional ownership and increase liquidity of the
businesses um one thing that we mentioned already is like ticketing and events so for example if you
guys were like in denver this year you were getting your um your ticket as an nft so it's like one of
the best solutions because you know we are saving the world because we are eco-friendly we don't need
to uh print a lot of tickets uh just to have them and you know if we can save the world let's make it
it that way because you know we should we are we're people supposed to make the world better place
and you know the nft is used for the event ticket like enhancing security elimination scalping i would
say and fnds can verify their tickets automatically on the blockchain so it's like a great way just to
get rid of like a lot of cues when you need to that you need to buy something on the place you can just
buy it and you're coming through like some sort of like a scanner where you can just put your nfts and
you're in that's it so it's also it's actually a great thing from the time management and logistic
purpose i would say and the last one i would like to mention that i think it's like heading into the
right direction it's education and that certification so academic credentials certifications and diplomas
can be stored as an nfts providing secure and variable records of achievements so i think there's
like a great way to another get rid of some sort of like a paperwork but when it looks
when you want to look at like from the long run i think education and certificates if they'll be
able to be like nfts you have like a hundred percent sure that this person have those certificates
and education finished yeah so i guess those are those are the ones that i'm just having like the best
look at it from from that from that point of view from my point of view sorry
yeah actually that was great like it was insightful and even i also like came to know like some of
the uh utilities which even i haven't like think for uh so just i just need like added at some points
on to what like seven have like tall like within the gaming community so i've been like more like a gamer
sort of thing like i'll spend my like free time mostly playing games and all those jobs so i do
regularly follow users within the gaming industry and recently i saw like there's like a game called
csgo they have like introduced these nfts within the game like maybe if they buy some uh gun skin or
like weapon skin or something like that it will be like form of nft and even i have like so i've seen like
a guy who got like some uh rare skin uh within the game and he was like able to sell that for some
millions dollars since it was like an nft so uh he just sold that screen in the marketplace and some
other hardcore gamer bought that for some millions of dollars so that was like that was like a great
utility even like the yeah the hardcore fans can get the desired skin and maybe the uh the ones who
like just do like some casual gamers can maybe i guess can earn some good bucks from doing those
things yeah exactly so you know there's like another utility you know actually the nfts in the gaming
they have like a lot of utilities that you can get and i think from the perspective of um of collector
and a player or gamer it's like the great thing to have like when it comes to gaming itself
yeah also with the fashion also like recently i saw like some ads on it's not like an ad but it was
like in um minding uh campaign on open sea i i don't remember whether it was like from adidas or nike
uh they were like launching an exclusive collection and it was like users can buy those nfts and redeem
those nfts in the offline or maybe online shows to redeem the sneaker and also uh they can keep that
nft as like a souvenir sort of thing uh so that was also like something new like uh these fashion brands
are like trying to sell the limited edition like sneakers or maybe designer clothes in form of nft
and if we need like uh like we can like obviously resell those things like i know like there's like
a huge market for sneakers reselling and all that stuff but still like for our memory and all that
stuff we can like still keep that nft so that's also like sound something very interesting yeah exactly
and you know i i remember one uh luxury brand from the jewelry um industry actually not industry but
subdomain of the of the luxury goods i don't remember which one was it but it was spirovsky
or tiffany's and we'll have some sort of like or maybe they still have with debate so for example if
you're owner of the of the monkey you're able just to get like a like a necklace with your monkey on it
for some sort of a price so that's you know there's like a lot of even the projects that are working
already with their luxury and their fashion brands wow that's insightful actually uh and also like i
have like some curious questions since you mentioned about uh create the economy within the nfts like
maybe the music producers or maybe video content creators uh so i haven't seen much of these music
nfts in the market uh so since you are like full-on actually working within the nft space uh like
what is the current stats with these like music nfts in in our like yeah nft space uh so you know when
it comes to like musicians and artists in general it's the thing that as for now it's some sort of like a
lack of uh let's say of development of those parts of the world and there is still a lack of the good
actors or good artists that they want to start working on it because you know um like a big industry
like big producers um you know they got some sort of like in music factories they went there just and
the producers was having their own studios and they just want to get some money from the artist by just
uh promoting their music right and it's something that i think that industries in general are now
tried to adopt it uh and they are just lacking of knowledge a bit and when it comes to like
developing of those things i think that's it's something building because like even recently i
spoke with one project that was creating like uh some sort of like a soundtracks for the movies
and some projects that we work closely with is having some sort of like a film festivals in the
metaverses when you need to use like nfts as a ticket to get into so i think from that perspective
there's like a lot of projects that build it but um the worst thing i would say from the market
perspective is that they don't have like enough or in they're getting enough of um
let's say adoption and not enough um visibility or outreach within the communities because we all
get used to like the old school like having a spotify using a youtube and or having like apple music
when you can just buy something and on that like just for you like you will have like one of
10 000 pieces in the world right right
yeah i guess like that can like uh one uh reason maybe like maybe within the next bull market maybe we
can see like some trends shift because you yeah for sure i'm sure you are like yeah aware of like
last bull trend everyone was like on back of like nfts every creators who were like creating or maybe
launching their own collections of nfts and all that stuff and previously uh so everyone was like uh
trying to build like defy projects and all that stuff so yeah maybe uh in the next like way maybe
we can like find something cool happening in this niche i hope yeah actually i think that when it comes
to like some sort of like um let's say metas and from my perspective because it's just my personal
opinion over here i think that the gaming projects will just make a lot of movement into the space in like
upcoming months and a bull run but also related to um let's say the music and entertainment that
will be still developed but i think it's like still too early for this adoption so i think that we should
have focus our eyes on like gaming projects and upcoming bull run got it uh also like what do you
like view on those collections like these computer generated like collections like they will be like
uh like some low quality computer generated nft collections which were once popular in the
previous cycle like the recent last bull run cycle there were like so many collections even these
celebrities were into buying all these like expensive collection i'm sure like even you have also like
seen i'm sure like whether it's like logan paul or jack paul but uh he bought like an nft worth like some
good thousands of dollars and currently it's like worth less than like a single digital double digit
number so it was like recently like viral in within the nft space and the community uh so like that so
what's your like view on uh currently also like there are many projects who are like launching these kind
of like computer generator uh nft corrections so what do you like view on those things actually from
my perspective i think that the projects that had their prime like on the last world market they will
still be in a space because you know it's something that the projects are very long on the market they
will stay on the market for like for sure but i think that they will not get back so easily on the
um value as as it was so they will just still have like they'll become like on a bit lower uh level
when it comes to like um its value but there will still be like a lot of people who want to get some
sort of like additional money as a sort of like a bad actors in a space that will be launching their
collections and want to get some sort of like uh additional money from their um for their followers i
would say and generally speaking i would say that's something that um for the next bull market
and for the things that will have might might happen in this space i think that like 90 of the
projects that we know right now will disappear there will be just uh there'll be some sort of like a
clean out within the space and the projects without like proper values great build uh great builders
that are behind the projects and the great founders of them that actually really believe
in a structure in a web tree they give like a lot of to their community members and that they want to
have like some sort of they have actually like a long plan of adoption or maybe even a long plan for
the development of their platforms and the communities they will stay in a space but the actor that the
ones that are just want to get some sort of money i think that even all nft communities right now are
getting more educated they're checking more people as uh when it looks even at when you look even at
the past of the walls that we got like a lot of rack pools from the founders and i guess that it will
always have some sort of like bad actors but i think that when it comes to next bull run uh there
will be like some sort of like a new way of um outreach and like new way how we can adapt nfts
and how the collections and the communities will be looking in a in the next few months
got it so actually yeah one more thing which i need to add since we were like discussing about
the utility of nfts uh which is like daos because recently it's not like recently like it was previously
also the it was like uh but the thing is like the popularity of like this uh token or the nft gated
uh groups and providing some alpha updates and they will be like having their own nft collections
and they will be like having like some private group where these people used to like share so
many alphas only for those who own the nfts uh so that's also like something cool like it's create
like some exclusivity within the nft holders uh by doing these like token gated uh groups and providing
some alpha updates within the group and that stuff yeah actually about the alphas that's one of the
topics i don't i never like to mention because when it comes to alphas there's always like a huge
chance the alpha that everyone's speaking about will not make it will not make will not be worth it of
investing our money into it but you know it's like always 50 50 chances uh to get some sort of like a
great alpha that you know that will make a great movement in the space but i'm thinking that the
best alphas from my perspective so don't treat it like some sort of like a financial advisory from my
end it's you need to look at the founders so how big experience those people have uh what they built so
far who who they who knows them um who they participated in some sort of like factors in the space and what
they achieved in the space and how how other founders speaks about them because the all the
all the things related to our space it's related to the founders because they're just actually let's
say like leaders for the collections and if the leaders got like a lack of experience and the lack of
plans it's like uh almost like 99 chances that the project will not make it on the market
yeah yeah yeah that's for sure uh so like since we were like uh discussing about the risk associated
within uh with these like alphas and all that stuff uh so since coming to our topic like what are the
potential recent like challenges associated with nfts like maybe for both creators and as a collector also
okay yeah so it's actually the great topic here i would say that i would start with the creators
so there's like a few points that i can just um mention here the first one from my end will be like
copyrights and intellectual property issues so creators must ensure uh that they have the legal
rights to the content that are tokenizing as nfts so like selling copper copyrighted materials
without permissions can lead to like some sort of like legal repercussions another thing i would
mention here is like market saturation because you know the market and nft market is becoming
increasingly um crowded i would say you know maybe not in the current state of the market but generally
it is and as more creators entering the space it can be challenging to stand out
uh of other founders and projects and find like the buyers that wants to become part of your community
that's another thing and another point will be environmental concerns so nfts on searching
blockchains such as ethereum have faced it like criticism for their energy consumption create uh so
creators might face some backlash of contributing to environmental issues but you know as we all know
it's getting better it's getting better but i think that's some sort of like a minor point and the last point for the creators i would like to get is like uh fluctuating values so the value of the nfts can be highly uh violated and creators might find that the market price for their work and uh fluctuate significantly over the time
so it's like the risk that i see um and the challenges for the creators but getting back to collectors
it's already i mentioned some points but i would just want to give you like a better understanding so
like the first point it's always about the legal stuff so i would say i have the lack of regulation so
the nft market is uh relatively new it's still relatively new and will be like for the next next few
months and years from my perspective and and it lacks of the regulatory oversight of traditional markets
so this can make it riskier for collectors in terms of fraud and market manipulation so that's the one of
the points that i'm seeing here another one is authentication and provenance uh so verifying the
authenticity and provenance of nfts that can be challenging uh counterfeit or stolen nfts and that
can that have been reported in the past um the one thing that's correlated with the one point that i
mentioned for the creators is price um volatility so the value of the nfts can be highly speculative and
the subject to rapid price changes because that's how our market works mostly and the collectors my
experience uh substantial losses in uh if they overpay or invest without um the proper research on that
end um another thing from my end it's um illiquid investments so nfts can be liquidated assets meaning
that they might not be easy to sell quickly when it comes like some sort of like a niche project um
um and um i would say that's one of the points here so you know when it comes like collectors
they should consider the long-term commitment when they're buying nfts you know when it comes like
that we got like a lot of people who are just sweeping the floors and they just uh making the
flips of the nfts but from my perspective most of the collections uh we should just treat like a long
long-term commitment and other things like it's emotional attachment because you know when you
mentioned about the jake paul or paul organ about the collection that they're making we got like a lot
of situations like that and it's collected also with the mh emotional attachments right so collectors
might form um emotional attachments to their nfts or the creators um make it difficult to make
rational decisions about buying or selling them so that's one point and collecting it with celebrities
we can have also like scams and phishing so you know scammers can create like pay nft projects really
that are linked to some celebrities within the space and um create like websites to trick collectors into
purchasing worthless tokens and collectors should exercise caution and verify authenticity
of the collection that they want to buy so you know always make your research and check if there's
like everything um you make sure that the collection that you want to buy it's like fully secure for
your assets uh another thing it's like storage and security so the storing nfts security is like a
crucial thing because there's like a lot of attacks onto people wallets and you know when you lose your
access to the digital wallets or nfts it can result in like permanent losses so just please be aware
of when you're adding like the details for your wallet and just not show them to everyone it's
better just to stay um safe and sound when we just have it in your wallet and just not measuring so
everyone in your space and like i think i gotta look at two extra points here so like the things
that correlated with one i already mentioned is like market speculation so some collectors might enter
the market purely for speculative purposes uh potentially driving up prices without genuine
interest in their underlying content so that's one of the points that we are we've seen in the latest
bull run uh but i hope that will just and it will always be with us but just please be aware of those
things and the last thing it's correlated with the with the current market situation i would say
is like changing trends so you know the popularity of the certain nfts categories can be subject to
rapid changes in trends and it can affect the value and demand for specific assets so you know
make your research as i already mentioned it to you a few times because some of the trends
are with us for like a short term but most of them supposed to stay with us for the long run
and i think that we should just focus on on those points here yeah actually that was really insightful
uh even i would say like learned a lot from this uh like i guess like happy to hear it
election it's always better to do your own research so that's the best thing which we can do
and be cautious about the problems uh in the market as like mentioned by simon uh the regulatory issues
and other things so yeah please we try to be more careful uh yeah uh so so just like coming to our
like main topic about because i got some sort of like internet issues on my end
i don't know like i guess it may be like from my end because i've been like using
it shows only like two bars over here so maybe something from my end if it's that line i'm sorry
uh can we go to next question alok can you hear me right now because i got some sort of like
internet issues on my end okay yeah i can i can hear you
uh can we go to next question uh can we go to next question uh can we go to next question if you are ready
i got some sort i had some sort of like an issue with my connection can you hear me right now
hello are you still alive because i saw that you got some sort of also like an internet connection
Yeah, look, can you just say your last questions once again?