Web3 Social Club Vol. 5: NFT in a Bear: More Than Art & Collectibles

Mask Network hosted the Web3 Social Club Vol. 5 Twitter Space on 13 July 2022 with NFT-adjacent Web3 builders — ShowMe NFT, Quest3, Big Time, 0xBobatea from Dragonfly Capital, and Echoverse NFT. Representing a colorful cross-section of the NFT space, they set aside some time to discuss NFT’s outlook and key trends that will drive the growth of NFTs.

They shared diverse perspectives on NFTs, such as the key attributes of successful NFT projects. The intersection of NFTs and other industries are also expected to drive the next wave of NFT innovation and utility. These builders shared their thoughts on important and emerging areas such as GameFi and Web3 Social in which NFTs could play a bigger role.

You can watch the full episode on YouTube:

Key Takeaways

  • NFTs will no longer be dominated by PFPs and artwork, although they will still function as a visual way to establish community and belonging.
  • With short-term projects washed out of the market, now is the best time to identify projects here for the long term.
  • The next wave of NFTs will be driven by innovations in technology and utility. These may be in the form of:
    - GameFi — In-game NFTs of playable characters, inventory items, and skins
    - Social — NFTs to interact with communities
    - Music and Writing — NFTs to establish superfan status and support the creator economy
  • With greater adoption, there will be more intersections between NFTs and the physical world that brings about greater use cases (for example: tokenized real estate and restaurant memberships).
  • NFTs will change how we interact with others — token-gated communities enable different models of memberships and communities, verifiable on-chain.

For anyone who is interested in future Twitter Spaces, please follow Mask Network @realMaskNetwork. We will be hosting more events of this kind, and continue to invite more industry leaders and emerging Web3 builders to talk with us.

Speaker Info

Project Intro

  • ShowMe is an NFT social subscription platform built on Web3.
  • Quest3 is a Web3 quest and event platform.
  • Big Time is a multiplayer action RPG that makes collectable NFTs accessible to everyone.
  • Dragonfly Capital is a cross-border crypto venture fund. Global from day one.
  • EchoVerse will start as a social simulation game and eventually evolves into a metaverse where you’ll find your favorite NFT projects integrated.

Web3 Social Club is a Twitter Space series by Mask Network where Web3 projects and builders gather and exchange ideas on building cutting-edge social networks and infrastructure.

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