WCP12 - LIVE! 2022 Recap + Season Finale

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Check out NFT Bridges HERE: https://nftbridges.xyz
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The true test for the theory that “The Future is Multi-chain” is #NFTs.

It is no secret by now that the power behind NFTs is not the artwork, nor the utility, but the #community.

A strong community means a resilient #NFT Project. But how do you achieve a strong community? At the end of the road, the creators of NFT #collectibles want their project to succeed, and so far, the MOST Valuable collections reside mainly on ONE chain: #Ethereum.

If this remains true, and people are still willing to spend more on an NFT just because it is on Ethereum, then all other cheaper and faster L1’s are at risk of becoming obsolete. However, there are MANY use cases in which Ethereum simply CAN’T be the solution for NFTs. This is in the LONG TAIL of NFTs, where I believe that most of the utility behind this technology will become evident. You can take a look at Polygon or WAX as great examples. NFTs on the low end of the price spectrum like collectible cards or other items simply can’t be transacted on Ethereum due to the gas fees being higher than the value of these NFTs. When we transfer an NFT to transfer the ownership of something like a key, a pen, or a simple item, this will come in handy.

The secret of building good bridges for NFTs is not only in building secure and easy-to-use bridges, but also the INCENTIVE MECHANISMS.

What is the motivation for an NFT creator to bridge some of their NFTs from Ethereum into another chain? The answer brings me back to the COMMUNITY.

If an NFT creator can expand their reach and tap into new communities by bridging some of their assets to another chain, that can be a great incentive to bridge part of the collection onto other chains.

What could be the motivation for NFT OWNERS to bridge their NFT from Ethereum onto other chains? The answer> one word: ARBITRAGE.

Arbitrage is a very lucrative business on fungible tokens due to the discrepancies between different markets for the tokens, but there hasn’t been a real opportunity for arbitrage in NFTs. When bridging between chains and accessing different marketplaces, this can change very quickly.

Join us on our brand new episode of the WEB3 CREATORS PODCAST as we dive deep into NFT Bridges, a venture founded by Ilan Klein. If you love NFTs and to get some important alpha into how the future of NFTs may be shaping up to be, this episode is a MUST!

Merry Christmas and Happy Hanukkah <3

H3rnan

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All of our videos are for educational purposes only and consist only of personal opinions. Please make sure to do your own research. Never take anything said in these videos for financial guidance.NONE of our videos ARE financial advice.
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