- Coachella acquired all ten NFTs worth $1.5 million. Coachella is a popular music festival.
- NFT.NYC is a leading NFT event community. It uses NFTs for the adoption of blockchain.
NFT Highlight In Conferences
In this crypto downtown, NFTs do not collect more trust from crypto investors. The NFTs performed at $700 billion in June, down from $2.6 billion. It must be on the way to boosting the trade in the crypto market. While the conferences related to NFTs bring more strategy to its trade.
The NFT conferences have various tasks, including hiring a Snoop Dogg impersonator. It garners the boost and pushes the trade to the next level. Additionally, the classes related to how to construct various strong use cases of NFTs became informative. And many of the class attendees reported “zero quiet areas” at the conference.
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NFT Use-Cases
The majority of people noted NFTs utilisation is for fundraising and collectible music. Even the conference was lacking in providing dynamic utilities to the asset holders. Coachella adopted unique ways for its conferences. NFTs noted its existence in the crypto market with an approach to grant holders’ bragging rights.
Additionally, NFTs provide digital ownership. It was earlier under consideration for enhancing and digitising normal artworks. In its early days, NFTs were used for shopping and promoting digital rights. Moving ahead from Artworks, NFTs entered sports activity. Many sports activities with NFT sports became memorabilia. And the success of NFT sports pushed blockchain-based sports activities like Sorare.
Coachella successfully completed its musical event, which was introduced with NFTs. As per the analysis, more than 60% of individuals are habitual to NFTs. And the remaining bought created NFT prior to now. On the other hand, some NFT groups need intense tuning so that it will show a massive hike in the trade.
Source: https://www.thecoinrepublic.com/2022/08/05/coachella-acquisition-that-nft-nyc-missed/