January 30, 2023 | Seattle, WA
Last Thursday, TF Labs and Niftmint hosted our first Web3 Crypto event of 2023, which was appropriately titled, "What's in Store for Web3 in 2023?" The Seattle crypto community began arriving at the TF Labs and Niftmint at 5pm and shortly there after the space was full of excitement with people having great food and drink, networking, and making new friends.
Once the speaking sessions started, Jonathan G. Blanco started by sharing his outlook for NFTs by Brands in 2023 and how the industry will begin to see Brands treat NFTs as product inventory to expand their offerings as opposed to a simple avatar cartoon picture. Jonathan shared the need for Brands to provide Web3 experiences to their customers in the methods their customers are accustomed to using. For example, stating that Brands should not force cryptocurrency or crypto wallets on their users if their users are not crypto customers, which for most brands is the case.
Earlier in the week, Porsche released an NFT which ended up having a negative response from the Web3 and NFT community because those communities thought the experience needed to target them. Jonathan made the point that the real mistake was not focusing on the Porsche customer base, going over the Niftmint article that was released the day before on the subject.
Next to speak was David Zhang CTO of Stably, a Seattle-based stablecoin company, who has spoken at several TF Labs events and conferences in the past. David noted that even in a time when there was a collapse with Terra Luna and FTX, "people are building more and more than they ever been" and there is still "substantial progress". Renatta Fairbanks joined the discussion after stating she's excited for companies to "look at their controls and process" and focus on building.
Alvaro Jimenez who manages a crypto hedge fund brought up the Bitcoin halving which is set to take place in 2024 and how 2023 may be slower in leading up to it with price action coming as we lead into the Bitcoin halving. Ryan Castillo gave his insights on the potential bottom to be in based on the downturn which only saw Bitcoin go down to $16,000 levels. We then heard from Devon Shigaki who share his thoughts on the need for crypto to have a credit market.
To close out the event, we invited Dan Thygesen, SVP of Wholesale at T-Mobile, to provide his take on #Web3 and how Brands will end up adopting it for their businesses. Dan stressed the need for a high level of security and also how Brands will likely be looking to partner with experts who have been working in this field to help them get in. Dan was positive on the use of NFTs by Brands in expanding their product offering and providing loyalty, stating he can see T-Mobile using NFTs in the near future.
Watch a recap of "What's in Store for Web3 in 2023?"
TF Labs and Niftmint will continue to host Web3 events throughout the year, with a current plan to host two events a month. The next event will take place on February 8th and will discuss "Web3, NFTs, and Gaming", with speakers Rahul Sood of Irreverant Labs, Justin Wu of DCentral Conference, and Matt Nutt of Fenix Games.