Inside NFT 2.0 — A New Era of Programmable Assets
Earlier this week, several DFINITY community members joined forces with Web3 project founders and NFT technology leaders for an online intensive event to showcase emerging trends in the programmable assets space. Inside NFT 2.0 brought together a distinguished group of panelists who charted a roadmap for the future of non-fungible tokens (NFTs), laying out a comprehensive vision to advance the industry in the coming years.
We are nearing the conclusion of NFT 1.0, a period in which garish generative JPEGs — cranked out en masse to capture quick profits — will no longer captivate the attention of NFT collectors. The NFT influence game has forever been altered. NFTs are now obligated to evolve beyond collections of static images of cartoon apes. The advancement of the digital collectibles market will be propelled forward only by practicality.
Today’s NFT landscape requires pragmatic applicability. Whether it’s establishing new revenue streams for creators and rights holders or enabling greater access to exclusive perks and opportunities, NFTs must contain a functional objective that transcends visual aesthetics. Effective immediately, programmable assets have no choice but to demonstrate real-world value and utility — from the tokenization of real estate to gated access to events — and far beyond.
Thanks to advances in smart contract technology, NFTs are becoming increasingly interactive, sophisticated, and multifunctional. With enhanced levels of flexibility and agility, NFT 2.0 is ushering in a new era of personalized ownership, where individuals can dynamically modify their tokenized assets to better suit their needs.
Inside NFT 2.0 — Raising the Bar for NFTs on ICP
The high point of the event was a panel discussion on NFT 2.0 in the Internet Computer Ecosystem, led by Emilio Canessa, the special projects manager of DFINITY, who provided useful commentary throughout.
Distinguished founders and builders from the Internet Computer Protocol (ICP) community joined Mr. Canessa to opine on the future of non-fungible tokens running on ICP. They included:
- Bob Bodily — CEO of ToniQ Labs
- Melissa Song — Head of Growth Shiku Metaverse / Yumi Marketplace
- Luke Dugdale — CEO Funded / Plug Wallet
During the panel discussion, this ICP dream team explored how projects built on the Internet Computer Protocol (ICP) are leveraging the benefits of NFT technology to create unique user experiences and promote greater engagement across the ICP ecosystem.
Melissa Song shared insights on Yumi (a leading NFT marketplace on the Internet Computer) and its strategic partnership with Shiku Metaverse, highlighting her project’s main goal: delivering authentic ownership of digital assets and physical goods. She prompted discourse on how NFT marketplaces can facilitate the co-ownership of digital assets, offering greater accessibility and liquidity while strengthening the bonds (and financial futures) of all interested parties.
Luke Dugdale discussed his Funded project and the benefits of incorporating NFTs into crowdfunding. By providing seed capital for startups on the ICP, investors gain the potential to lock in attractive profits — all on chain. Dugdale also shared how Funded originated from the ICP ecosystem and evolved into the standalone enterprise we see today.
Bob Bodily extolled the advantages of creating projects using the Internet Computer Protocol. As the founder of ToniQ Labs, he spoke enthusiastically about the resilience of the ecosystem and cited a multitude of successful ventures he has built on the platform; these include Entrepot, Stoic Wallet, and the Volt (smart) wallet. Bodily advocated for the use of dynamic non-fungible tokens and outlined their potential to help NFT frameworks better address (and solve) real-world issues.
NFTs through a Different Lens
Joseph Khan, the CEO of Vibe Data Pte. Ltd., spoke on the topic of Using Dynamic Soulbound Tokens to Drive Loyalty. He provided valuable perspectives on the benefits of using blockchain technology to reward consumer allegiance, illustrating how to create a more personalized and fulfilling customer journey.
Alexander Kuzin, a Genesis Block Member of DAO Envelop, discussed the evolution of fundraising through NFT 2.0 and SAFT. He explained how the use of NFT technology is revolutionizing the way startups secure capital, thereby offering investors more streamlined opportunities for participation in Web3 projects. In addition, he elaborated on the potential for NFTs to democratize the fundraising process, making seed capital more accessible to a wider range of investors and businesses.
Aleks Shedogubov, also a Genesis member of Envelop DAO, shared his vision for the future of NFTs. He expanded on the technical possibilities of NFT 2.0, explaining the specificity of “smart” NFTs and the use cases Envelop DAO has developed within this framework, from on-chain multi-royalty to cross-chain bridgeless swaps. Using the example of SAFT-wrapped NFTs he laid out the potential benefits of non-pledge rentals in GameFi.
All participants brought a wealth of eclectic expertise to the event, giving attendees fresh vantage points on how NFTs can be leveraged across diverse industry verticals.
Reality Check: A Virtual Session to Remember
Participants could attend the event via Youtube, as well as through Spatial and ARCONA, where they engaged with virtual representations of one another.
ARCONA is an augmented reality metaverse platform that creates a fully immersive and interactive virtual environment where users can interface with digital content in real-world locations.
Participants of Inside NFT 2.0 purchased NFT tickets through Getpass and received SBT tokens as proof of participation (via DAO MetaGo and Envelop SBT). The event was hosted by DAO MetaGo with Envelop — a DAO that enables users to tokenize NFTs for trade across multiple blockchains — acting as a general partner, with cryptoemcee presiding over much of the festivities.
The entire three-hour extravaganza was live-streamed and recorded on YouTube.
About the Internet Computer
The Internet Computer, developed by the DFINITY Foundation, is the world’s first truly decentralized and infinitely scalable public blockchain. Operating at web speed, the Internet Computer (IC) blockchain runs end-to-end on a sovereign network of dedicated machines, hosted by independent node providers around the globe, making IC the only blockchain that does not rely on centralized cloud nodes. The Internet Computer blockchain is governed by the Network Nervous System, a protocol-integrated DAO where token holders have the power to vote on the future of the network.
Hundreds of dApps are now hosting Web2-style applications (websites, mobile apps, etc.) entirely on chain at web speed, as ICP increasingly becomes a decentralized alternative to the current public internet. Presently, the Internet Computer processes upwards of a half billion transactions per day — with significantly reduced energy consumption and costs — making ICP the world’s most productive blockchain.
With the Internet Computer, the promise of a truly decentralized internet — a trustless “World Computer” upon which the broadest possible range of internet services can exist amongst massively distributed computers — has come to fruition.
About the DFINITY Foundation
The Switzerland-based DFINITY Foundation, a not-for-profit organization dedicated to developing the Internet Computer blockchain, was founded in 2016 by its Chief Scientist Dominic Williams. DFINITY’s Zurich headquarters contains the largest blockchain R&D center in the region and boasts one of the most extensive R&D teams in the industry, with many world-renowned cryptographers, researchers, and engineers. Including its research center in San Francisco, California, DFINITY employs over 200 people globally.
