{"id":144074,"date":"2022-10-28T02:52:17","date_gmt":"2022-10-27T21:22:17","guid":{"rendered":"https:\/\/centralrecorder.com\/nft-industry-must-transform-hype-to-real-world-benefits-says-gaming-platform-ceo-podcast\/"},"modified":"2022-10-28T02:53:15","modified_gmt":"2022-10-27T21:23:15","slug":"gaming-platform-ceo-says-nft-industry-needs-to-transform-hype-into-real-world-benefits","status":"publish","type":"post","link":"https:\/\/centralrecorder.com\/gaming-platform-ceo-says-nft-industry-needs-to-transform-hype-into-real-world-benefits\/","title":{"rendered":"Gaming Platform CEO Says NFT Industry Needs to Transform Hype into Real-World Benefits"},"content":{"rendered":"\n
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\u201dTech vs Media\u201c podcast: Will Weinraub says companies based around non-fungible tokens must prove their everyday value<\/p>\n

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Will Weinraub, CEO of OnChain Studios, believes that the NFT industry needs to transform its hype into real-world benefits if it is to succeed.<\/p>\n

\u201cWe need to keep it as underlying technology, and really talk more about the benefits and the use cases and the avenues that these things open up versus just shouting into the echo chamber about how great NFTs are,\u201dWeinraub claimed that \u2019s\u00a0\u201cTech vs Media\u201d podcast\u00a0<\/a>Richard Wolpert (host) explains that NFTs now have a negative connotation following initial hype. \u201cConsumers aren\u2019t going to care unless you translate technology into real-world use cases that solve their problems or delight them in a number of ways.\u201d<\/p>\n<\/div>\n

Register to learn more<\/p>\n

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Weinraub, whose interest in digital collectables was ignited by CryptoKitties (2008), has made this goal a reality through his companies OnChain Studios (a futuristic toy company) and Cryptoys (a futuristic toy business that integrates digital collectables within the world of toys). Cryptoys, unlike other toys companies, has the infrastructure to develop original digital content via apps and games that go beyond the limitations of a physical item.<\/p>\n

\n\t\t\t\t\t\t\t\t\t\"Canela<\/p><\/div>\n

The CEO has developed his company to meet long-standing needs. However, he has seen a few companies in the NFT\/web3 space fail to solve real problems. \u201cthrowing the word \u2018NFT\u2019 and \u2018blockchain\u2019 at these companies and hoping that\u2019s enough to get this done.\u201d<\/p>\n

\u201cSome deals were able to get done by just the sheer momentum of the hype,\u201dWeinraub, Weinraub. \u201cBut now it\u2019s what is the use case? What is the application? What is the value?\u201d<\/p>\n

Weinraub predicts that 95% NFT projects will not be completed due to a lack of follow up. \u201cfade away over time,\u201dThis is an additional feature \u201cwe\u2019re already starting to see a lack of liquidity and activity around those projects.\u201d<\/p>\n

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Weinraub says that the next round of NFTs leaders is expected to emerge in their place. Weinraub also noted that entrepreneurs will continue to build several-year projects.<\/p>\n

\u201cNow for a while you\u2019ve seen these cycles come and go, you see what happened in the late 90s, and the whole mobile boom, and the app boom, and then all this different stuff,\u201dAccording to the CEO. \u201cWe see these markets, and we see them as opportunities to build and get ready for the next wave of innovation and consumer adoption.\u201d<\/p>\n

Click the link below to listen to the complete episode.<\/p>\n