NFT NYC 2023: Why Should You Know More?

Wouter Kloosterman, the CEO of Authic Labs, has been invited to speak at the leading NFT event in the United States, the NFT NYC 2023. Wouter will share his expertise on the topic of using NFTs to create a unique marketing experience for customers of both corporate and personal brands.

Why should you know about NFT NYC?

NFT New York City is the leading NFT event, gathering nearly 17,000 attendees from over 70 countries. More specifically, in NFT NYC 2023, hundreds of the most prominent company leaders will speak about their experiences and affordances of NFTs in their businesses. Ledger, USM lab, COACH, Polygon Studios, Vayner3, WAX, and MoonPay are only some of the companies represented during the event.
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Image credits to Forbes

What is NFT?

Now that we know what the event is, let's understand try to understand better the driving topic behind it.
Non-fungible token (NFT) is a technology to verify the ownership of a digital asset. That is, the tokens store valuable information that is attached to a specific digital piece, such as digital art. For instance, NFT technology can be attached to digital art. This would mean that this art piece is now non-fungible - or cannot be replaced because of its unique nature. However, it can be exchanged for something else - just like you would exchange money for a physical art piece, for example.
As a matter of fact, many people confuse NFT technology with the digital asset itself. Yet Authic’s CEO provides an analogy to clarify the distinction between the two. When your friend asks you about what kind of music you listen to, you do not say “MP3” or “radio” - which is the technology that provides music. Instead, you give specific genres, like “k-pop” or “classical music”. Therefore, in this case, MP3 or radio is the NFT - or the technology provider, while the music genre is equivalent to the digital asset itself.
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Space Age by Lindsey Price Studios

How NFTs are helpful to brands

David Packman, the managing partner of CoinFund calls NFTs as “the most successful new consumer product”. In fact, NFT technology has many different implications. NBA legend Scottie Pippen, for example, has released a virtual sneakers drop that served as digital collectibles for his loyal fans and was sold out in 77 seconds since the sales began. Read how Web3 will transform the marketing landscape and improve customer loyalty.