Investor expert Clara Bullrich, co-founder and CEO of The Venture City, is convinced that the massive adoption of NFTs in Latin America will come from gaming and the metaverse. You should follow their advice.
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Opinions expressed by Entrepreneur contributors are their own.
“The summer of 2020 was known as ‘DeFi Summer’, for the explosion of cryptocurrencies and decentralized finance (DeFi). And 2021 will be known as the ‘NFT Summer’, because of the boom in non-fungible tokens, ” says Clara Bullrich , co-founder and CEO of The Venture City , her own venture capital firm. In an exclusive interview, the investor expert assured that the future massive adoption of NFT assets in Latin America will come from the world of gaming and the virtual fields of the metaverse . Depositphotos.com The Argentine investor founded The Venture City in February 2017, together with her partner Laura González-Estéfani , originally from Spain. With overwhelming enthusiasm for the endless business opportunities in blockchain , Clara shared the possibilities that non-fungible tokens (NFTs) offer for Latin America.
“At the end of the day, what we do as a venture capital is understand trends and forecast where the next disruption will come from. We do not invest for the present, but for the future. We are not thinking about what works today, our great challenge is to discover what is going to work tomorrow, or in 5, 10, 20 years, ” said Bullrich. It may interest you: Playboy will compete with OnlyFans in the Metaverse and rapper Cardi B will be the creative director of the project .
The future of NFT business on the blockchain.
The expert explained that the internet we know today “operates from these gigantic platforms that were created within BigTech companies” , and that current monetization schemes are not fair. Today, most of the profits go to businesses, and not to the content creators or users who power these platforms.
“When everything that has to do with blockchain begins to appear, it is a disruption in itself,” she said, convinced. “Then all this technology appears that is telling you that the world has changed. The era of aggregators getting it all is no more. If we are now in the era of subscriptions, we are about to enter that of ownership, that the creator owns his content and chooses how to monetize it. That creation itself is explosive, it is a new world ”.
Clara explained that owning a venture capital fund has her more than prepared to make dangerous bets. And, at this time, few investments are as risky as everything related to the blockchain, mainly cryptocurrencies and NFT assets.
“When we see this in The Venture City, our first reaction is to jump into the water. We are assuming a lot of risk because there is no regulation today for these companies, as there is not in the entire crypto market ” , the CEO explained with emotion. “We start by exploring the DeFi ecosystem first, and when the NFTs come we realize it’s going to be explosive.” Why are NFTs so valuable?
“It really is simple. NFT stands for ‘non-fungible token’ . It is a piece of information that lives on the blockchain, that decentralized network that no company manages. This file is unique, there is no other identical. It is programmable, it is permanent, you cannot erase it, it stays in the blockchain forever ” , explained the investor.
As he explains, the most important characteristic that an NFT has is ownership , that is, that the creator can be the owner of his creations . Non-fungible tokens are already being consolidated in different fields: digital art , collectibles and gaming . However, the co-founder of The Venture City is convinced that the latter is the door to the mass adoption of these digital assets.
Bullrich dismisses digital art as a way for NFTs to gain greater acceptance. “Art NFTs are very aspirational, not everyone can buy them. In addition, many projects are being created, some are growing enormously. But, in reality, 80% of these projects do not have a substantial value and it is not known if they will have it, “he warns.
Another barrier is that “97% of those NFTs in art, today, are operating on Ethereum platforms. So when you buy those NFTs, you need to do the transaction in cryptocurrencies. ” This is in addition […]
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