The Lagos Blockchain and FutureTech conference 2022 was glam, featuring various tech and blockchain experts. The event which was held at Civic Center was chaired by the Founder and Coordinator of Blockchain Nigeria User Group (BNUG), Chimezie Chuta.
According to Chuta, blockchain is a mix of tech and art that can be translated into wealth. He further encouraged the participants to prepare as they will be enlightened on how tech and metaverse will shape the future.
The event moved fast to one of the Keynote Speakers, Oluseyi Akindeinde, who spoke on the three critical things that plunged the internet. One of which is the search engine. Speaking further, he said you do not need to be in a particular place to search for anything, you can search for anything from anywhere in the world.
Tying this to metaverse which is one of the features currently disrupting the internet, he said Africa is coming to that point where you won’t need to be present to get things done. All that is needed is a creation of a character exactly like you in the metaverse and you could be anywhere live getting the work done.
Akindeinde also noted that the metaverse is an entire world, where anything can be done, adding that we are far behind in terms of technology and encouraged everyone to embrace the change that will be coming upon us soon.
Blockchain and FutureTech: Highlights From the Panelist Discussion
Below is the list of the Panelist Discussion who spoke on the “Building Foundations for FutureTech in Africa”
- Oluseyi Akindeinde, CTO Digital Encode Ltd,
- Nurudeen Momodu,3D Artist, Animator
- Charles Okaformbah, Blockchain solution architect, GCTO Convexity
- Hammad Arowosogbe, 3D, WebAR, and WebVR Specialist
- Bolaji Onibui, CEO, Nifty Row(2D & 3D content to the web, Tech Consulting, Blockchain
Speaking on this, Oluseyi Akindeinde, said it is not about building a foundation on tech in Africa, we need to build to guarantee a place in it for the future.
Hammad Arowosogbe, also contributing said, “there is a virtual world of virtual experiences, where we can interact and represent ourselves/cultures.” He added that it is the next wave of computing and technologies will inform that new wave.
On his ending note, Arowosogbe said, that we should be ready for a change in the tech world as the metaverse is the next tech advancement where the world is needed.
How to Monetize NFTs
The speakers noted that NFTs are valuable and ownership of digital assets. They are accessible and can be monetized in the metaverse.
To do this, you need to sell your NFTs assets (earning in crypto). The good thing about this is that you don’t need any programming knowledge for this.
NFTs also go beyond the art and selling. It involves creating something unique first, then selling and turning it into dollars. The only way to make this unique is by creating utility.
It also helps in the fractionalization of assets. This means that you can divide the asset into smaller denominations so that many users can buy its partial ownership.
Value of Art = Loan Coverage
Loans have become part of our human existence. Ranging from starting a business, paying fees, rents, gadgets, and so on. We have not talked about the over ridiculous interest on loans.
That is however not the case with Blockchain/NFTs. All needed is the value of your art. Your potential and your work will be used as a value to your loan.
If for instance, you borrow a loan, the amount of work you have produced and the value of each work can be used to upset your loan. This will be done using Artificial Intelligence (AI), as it will help to generate the loaner’s work online.
Blockchain and FutureTech: Concluding Section
During the short break, the participants were allowed into the exhibition boots to have a real-life experience of how blockchain mixed with tech has evolved. These exhibition segments include, This includes Metaverse Experience Room, Networking, and Boat Cruise amongst others.
Some of the exhibition were paid for before entry, while some needed their app downloaded before the entry of participants.
While the exhibition was going on, the sponsors came to give a presentation of their products services, and functionality. They also communicated the benefits of using their products to the audience.
The event ended with a vote of thanks from the founder, Chimezie Chuta with the speakers receiving an award for participation and impactful speech.
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