Binance’s NFT Talk Recap: Current Hype, Trends and Opportunities 🚀
We were invited by Binance to participate in an NFT Panel on Clubhouse on the 18th of March:
Our Co-Founder, Nacho Llanillo, spoke at the event about the amazing progress of Juggernaut in the NFT space.
Clubhouse does not record the audio, but here’s a recap of what happened.
Overview of the NFT Talk
The moderator, David, asked everyone to introduce themselves and their projects briefly.
This is approximately how Nacho introduced himself and Juggernaut:
“Hello everyone! First of all, I’m excited to be here together with such awesome guests. My name is Nacho, and I’m the co-founder of Juggernaut (JGN). I’m from Spain, and I’ve been in the space for a while now. Cryptocurrencies and the blockchain space are so fast-paced that I’m in love with the whole industry. There’s always a lot of cool stuff to do and develop.
Juggernaut (JGN) is a complete custom DeFi suite, governance, and NFT ecosystem with full BSC compatibility.
We are creating the go-to BSC NFT Exchange. Think of the Rarible of BSC. Currently there’s a big market gap for NFTs because Ethereum is currently inefficient for certain usecases, and Binance Smart Chain has a vibrant community of NFT followers, looking for a place to trade and create BSC NFTs. That’s what inspired us to create jgnnft.com, a place for the BSC community to trade NFTs.
We are building a NFT infrastructure, games, collections and our Exclusive BSC NFT Exchange. Juggernaut is building a unique ecosystem, full of exciting use cases, merging the possibilities of DeFi with NFTs“.
Then, David talked about how an artwork from Beeple sold for $69m, or how Elon Musk tried to sell a song about NFTs as an NFT, but decided not to.
Following that line, the panel talked about the current state of NFTs, and what the future of NFTs would look like.
That was a hard thing to answer. Looking at trends is difficult, but trying to predict the future or where NFTs are going is extremely hard.
All participants agreed that NFTs are here to stay.
The general answer was that NFTs can connect people, and bring new experiences to different art forms: music, digital art, videos, etc. Connecting the physical and digital world, expanding the ways people interact, or creating new ways of rewarding early supporters are ways for the NFT market to keep expanding.
When asked if NFTs are in a bubble, Nacho said:
“Maybe if you look at the price of certain sales, they might look crazy, but at the end of ther day, art is very personal, and its value it’s what people are willing to pay for it. I think money is being poured into the NFT space, and that is allowing the creation of a new NFT Infrastructure, new art expressions and new innovations“.
Everyone expressed their opinions about the bubble, and the current expansion of the NFT industry. We are all hearing crazy stories about NFTs daily, but the interactions are real, exclusive, and exciting.
The panel then talked about the current limitations of NFTs, and Brandon, the CEO of Bondly said that the technology itself is “relatively simple”, but it has a lot of potential in terms of its advantages over traditional representations.
“Generally speaking, NFTs have unique, scarce and indivisible attributes. When introducing NFTs to new people, I always try to talk about the their huge benefits of unalterable ownership, traceability or programmability. NFTs can not only connect creators with fans, but fans between themselves, creating P2P connections, expanding the potential of interaction”. — Brandon, CEO of Bondly.
Nacho then added:
“I think we have to think that the limitations might be social, about creating experiences and connections. Bondly does this very well through community building, and partnering with amazing musicians or creators around the world”.
David, the moderator, asked the members of the panel to answer some questions about each project individually. When it was Juggernaut’s turn, the question was
How is the development of an NFT Exchange? What’s like to work with creative people for your NFTs?
“Before answering, I would like to share a personal story. When I first started talking about cryptocurrencies to my friends, they weren’t that interested. They didn’t want to learn more about crypto or the blockchain space. However, I’ve noticed that the concept of NFTs is something almost universal. Pretty much everyone I know collects things in one way or another. I think not everyone is interested into finance, but a lot of people are interested into hobbies, arts or digital creations.
I believe NFTs are in the middle point between technology and art. The artists and creators that approach us daily are looking for a way to display their creations and showcase their hard work. They want to be heard.
I think thanks to BSC and the Binance ecosystem we are receiving a lot of interest by people unfamiliar with blockchain and cryptocurrencies, and that’s so thrilling.
The opportunities for a NFT Exchange are massive. As I said earlier, there’s a market gap for NFTs into BSC, and we are creating a BSC Exclusive NFT Exchange to give people exactly what they are looking for.
We recently announced an investment by Softbank (UK), and we are working on exciting licensing opportunities and partnerships thanks to them. More and more juggernauts of the finance space are starting to look at cryptocurrencies and NFTs, and it’s an exciting time to be in”. — Nacho Llanillo, Co-Founder of Juggernaut.
Lastly, there was a round of community questions, where very smart people from different backgrounds asked questions about digital art, sports, music or finance in regards to NFTs. When it came to digital art, a user asked how to go about creating NFTs as a digital artist, and Nacho answered:
“I think apart from the stories and the hype, practically, it’s good to consider that NFTs are creating a global community of people interested into new ways of interacting with different forms of art: music, painting or digital art. NFTs are creating an infrastructure that we believe will help art evolve into something different. At Juggernaut, we are creating the Rarible of BSC, and we would be really happy to collaborate with any upcoming artists and creators. We are not here just for JGN, but for the whole BSC community”.
Juggernaut is a complete custom DeFi suite, governance, and NFT ecosystem + marketplace. We focus on the emerging non-commodity, custom DeFi synthetics market.
We believe that DeFi and NFTs should be accessible and simple for all. Juggernaut wants to help everyone be part of the DeFi revolution, and let them get exposure to new and interesting asset classes and innovations.
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