Opensea's Co-Founder Alex Atallah talks about the future of NFTs

Name: Opensea's Co-Founder Alex Atallah talks about the future of NFTs
Uploaded: 2019-02-07T05:33:07+00:00
Duration: 1 min 42 s
Channel: Alex Atallah
Description: In this interview excerpt, the host asks Alex Atallah to envision the NFT market five years ahead, specifically what NFT 2024 might look like. Atallah…

7 Feb 2019 · 2 min

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1:42

In this interview excerpt, the host asks Alex Atallah to envision the NFT market five years ahead, specifically what NFT 2024 might look like. Atallah draws an analogy to the current web and gaming landscape, describing how today a few dominant games dominate the market while most others have tiny user bases. He predicts that NFTs will first succeed in the gaming vertical, but unlike today’s siloed games, the NFT ecosystem will host thousands of games that each achieve decent traction. These games will coexist in a shared, interoperable environment, allowing success to be distributed across the ecosystem rather than concentrated in a few dominant titles.

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Talk a bit about the future with me. What do you anticipate or what do you hope for like 5 years from now in the non-fungible token market? Like NFT 2024, what might that be like?
Imagine if the web looked like the gaming industry does today. Where instead of there being millions of websites that you can access through a common interface like Google, there's only like 6 major ones being used or played by most people. And when a new game comes out, it's kind of the main game for the next couple months, and then it dies out. Uh, that's sort of the way the, the gaming industry looks like now. Where there aren't that many games really. There's a couple that dominate and everyone else falls apart or gets very small user base. With non-fungible tokens, the first vertical that's gonna work is looking like it's gonna be gaming. And I think what's gonna change is there are going to be thousands and thousands of games, just like there are thousands of websites that all get some traction. And that all do decently well, or a lot better than the bottom 90% tail in the status quo gaming industry. And they'll do really well because they'll all work together in this ecosystem that shares success, instead of being siloed in their own gaming worlds and user bubbles.