It is becoming very hard to find words to describe the crypto phenomenon that New York City is witnessing these days.
The NFT.NYC conference, held in February 2019, was spread across 6 different venues with three days of programming covering 600 speakers. About 5,500 tickets were sold with space limitations leaving 3,000 more on the waitlist to the attendees who traded 700,000 speaker and sponsor swag NFTs.
There were around 15 different billboards that were designed according to an NFT theme in Times Square. Many parties, dinners, EDM raves and digital art galleries were organized which boasted NFT promoting films and music stars.
But what was it all for?
The most prominent aspect of this is how rapidly this industry has sprung up, seemingly out of nowhere. New business models and various inventions are being built on top of these new ideas. This is what makes the evolution of this space so difficult to predict.
Ethereum Is King
There are various blockchains servicing the NFT industry but the undisputed king is still Ethereum. ETH jumped to new record highs this week amid the hubbub around NFT.NYC. But will this leadership be sustained? The newcomers in space who landed here via the conference would be shocked to discover that the fees may exceed the value of the NFT that has to be traded.
However, new blockchains like Flow, Avalanche and Solana are offering low priced transfers and attracting more NFT action.
Jasia Junaid is a professional and experienced content writer working with NFT News. She is also working at other International companies. Jasia has remained a former article writer at Saakin real estate, foodytechy and scholarly net. With a great command over several niches, Jasia took a dive into the world of NFTs and proudly takes part in bringing up the latest authentic news on cryptocurrency, metaverse, and blockchain alot more at NFT News. In her spare time, she tries to read and organize more information related to on-going crypto trends around the world, do light blogging and surf the internet around.
