CoinMarketCap Conference Day 2 Recap: Continued Building
Day 2 of CoinMarketCap’s The Capital: Time to Ship Conference are headlined by the firm’s CEO Rush, as well as journalist Camila Russo and Tron founder Justin Sun. Speakers from the entire crypto industry discussed topics ranging from layer-1 solutions to the environmental effects of blockchain. Rush, recognized the importance of shipping products in this industry. “This conference is a highlight reel of all the projects, protocols and actors out there that are shipping real things today in the crypto space. Real use cases, real life interactions,” he added.
Entertainment Industry in the Metaverse
From metaverse concerts to art viewing, there are different kinds of entertainment that the metaverse can offer, even at this early stage. According to Paul Caslin of HELLO, this is because the metaverse presents a different opportunity for the person; whereas in the real world people are tied to their physical forms, jobs, or persona, in the metaverse “you can go wherever you want and be whoever you want. You can be a rockstar or superhero and that is exciting. Our inner child speaks to that.”
Will there be cinematic experiences in the metaverse? Neeraj Roy of Hefty Labs is not keen on that idea, rather, the industry, he said, can focus on creating storytelling experiences that are more immersive and interactive.
NFTs in 2022: Explained
Environment and Blockchain
The effect of blockchain on the environment is a well-discussed story, but the panel moderated by Olivia Capozzalo of OKX agreed that there is a lack of correct information on the real impact of crypto on the environment. Still, according to Andre Vanyi-Robin of Plastiks, we should question how we can “minimize crypto’s environmental impact until renewable energy can permeate through all aspects of society.”
Building on Layer-1 Blockchains
Layer-1s are the base network blockchains like Bitcoin, BNBChain, or Ethereum networks. They are the main networks in their ecosystem. Layer-1s have some challenges that they face, such as getting validators and making sure everything runs correctly, says Marko Baricevic of Cosmos. Other challenges? Talent. Says Denko Mancheski of Reef, “the right talent that is competent enough to build tech that is used as the main settlement layer that needs to be very secure, and make sure it is decentralized.”
But who will win the coveted “Primary Layer-1” title that is presently owned by Ethereum? Terry Wilkinson of Klaytn said, “we are in a consolidation period… the market is homogenous and winners might be picked by technology.. but it’s very often that winners will be picked by how they can serve as business cases.”
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