NFTs have become highly popular within the cryptocurrency space and continue to see widespread adoption.
Charles d’Haussy, Managing Director for Asia-Pacific at ConsenSys, recently revealed in an interview that NFTs have provided millions of mainstream users with a bridge into Web3.
The rise and expansion of Web3 have dominated conversation in the crypto sector in recent months. The push toward a more decentralized internet has energized the broader cryptocurrency market. According to the ConsenSys executive:
“We believe there are several key drivers behind this growth, the first being the appeal to a digitally native generation. NFTs bridge many gaps between the traditional and the new world—physical and digital, mainstream and crypto—because anyone can connect with collectibles in the niche that matters to them.”
He added that NFTs have become more than a hobby for many people. He continued:
“In fact, the emergence of play-to-earn games has enabled many people in economically disadvantaged regions to earn a livelihood after losing jobs during the pandemic. One example is Axie Infinity, a blockchain game that allows users to generate income through NFTs and cryptocurrencies.”
Ethereum remains one of the leading blockchains for NFTs worldwide. ConsenSys, a blockchain software company focused on building products on the Ethereum blockchain, praised the Ethereum network.
“Ethereum is the first and primary blockchain for running software, and the idea is revolutionary. It introduced DeFi, catalyzed the creative economy through NFTs, and now supports new organizational structures and gaming collectives.”
However, he noted that ConsenSys expects many computational blockchains to emerge because they will form the backbone of Web 3.0. He concluded that not all blockchains will serve the same role, since technology, adoption, and community create meaningful differences between networks.