Cointelegraph senior reporter Rachel Wolfson spent a day exploring NFT NYC 2022 to learn about emerging nonfungible token projects,or NFTs, and how the sector may advance. A recent market report published by Verified Market Research (VMR) predicts that the NFT market could reach a value of $230 billion by 2030. NFT NYC 2022 certainly demonstrated the potential of the NFT sector, highlighting some of the most promising use cases and industry experts.
For instance, Camila Russo, founder of The Defiant and author of The Infinite Machine, told Cointelegraph that NFT products should advance to bring value to holders, whether that comes in the form of community building or funding for new projects.
Cointelegraph also visited offsite houses hosted by Ripple and Doodles. David Schwartz, chief technology officer of Ripple, told Cointelegraph about the advantages and disadvantages of NFT projects, while Julian Holguin, chief executive officer of Doodles, explained the importance of a physical NFT minting experience. Cryptocurrency influencers “Girl Gone Crypto” and “Tech Con Catalina” also shared their thoughts on the advancing NFT ecosystem.