At a panel discussion on “The Future of NFTs” at SALT New York on Tuesday, speakers presented a wide range of perspectives on the impact of the Ethereum consolidation on NFTs and what the future of NFTs might look like.
The panel included TIME President Keith Grossman, Emily Yang (also known as Ppleasr) of pleasrDAO, Nadya Tolokonnikova of Pussy Riot and UnicornDAO, John Caldwell of Wave Financial and UnicornDAO, and writer and trader at NFT Andrew Wang.
Caldwell doubts whether Ethereum’s switch to a proof-of-stake mechanism will have any impact on the NFT market.
He said that in a post-merger world, “anything on Ethereum” would be considered “ESG compliant.” He thinks this is just a common talking point.
“I don’t know if financial institutions really care, except for the ESG rating, which they kind of have to do,” he said. “But, you know, financial institutions have done an amazing job of forever horrific things for the environment. I don’t think this is an exception.”
About trading Ethereum NFTs, Wang said, “I hate that it might make me look bad, but the fun I had with the NFTs and the people I was meeting with made the environmental costs a bit of an afterthought.”
Tolokonnikova added, “A lot of people hated me for having sex with NFTs.” She hopes that incorporation will reduce her “hate” from people.
Speaking of the current bear market, Caldwell said people may “give up” on NFTs altogether. He pointed out that in18 and 19, people have given up encryption entirely, and will give up NFTs again. “
Wang endorsed his view, adding, “I don’t know if you would call this an extended bear market, [but] It’s definitely a point where I no longer believe in WAGMI, unfortunately.”
However, Caldwell believes the NFTs will make a comeback. That said, “You won’t even know you’re using NFTs, but they’ll come back” during the next ascent cycle.
Grossman’s prediction about the future of NFT technology was that “slowly but surely, we’re going to move from spec state — where people talk about technology — to experience state, where people talk about it, like, ‘Oh, I went to Starbucks and got XYZ.'”
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