Pavel Bains, CEO of Bluzell, discusses the impact of Native Culture on NFT adoption by DailyCoin
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Since Kevin McCoy invented “Quantum (NASDAQ :)” in 2014, the first non-fungible token (NFT) to debut in the cryptography art market has seen an increase in demand for virtual assets. More than half a decade ago, not only was NFT more interested in space, but people were also building cultural value around innovation.
For some, NFTs are just another option for investing in the hopes of achieving a high return on investment (ROI) in the long run. However, this is not the mindset of all NFT fans, as some see it as beyond the party of wealth creation.
In an exclusive interview with DailyCoin, Pavel Bains, one of Bluzelle’s CEOs and founders, spoke about the impact of NFT on the decentralized storage network of the creators ’economy, which focuses on NFT. In his view, “NFTs in general have moved crypts into a new form of culture.”
In the interview, Bains said that since NFTs have now become a key part of their project, they have added file storage to their data storage facilities, making it clear that they believe NFTs are there to last.
As an analogy, Bains compared the constant NFT movement to rap culture in the early ’90s, when rap and Hip Hop actually started and received a lot of criticism. Bains explained that many people, including himself, were affected by the movement.
“I grew up in Vancouver, I also went to school in the US, everything that my friends and I formed; from the shorts we wore on the basketball court to the shoes, it was the influence of HipHopa, ”said Bains.
In the same way, cryptography has undergone a constant reaction, since its inception, and worsened with the advent of NFT. In any case, the world is starting to turn around and is gradually taking over as the virtual economy.
Bains says that while older generations are struggling to accept this new reality, young demographics are playing a role in driving the acceptance of crypto and NFT, which is a similar situation in the 1990s when the younger generation was more receptive to rap. and Hip Hop culture, while older generations remained conservative.
“My only concern is that cryptography has now become its culture for younger demographics, with the same similarities to Hip Hop, where they are now establishing that NFT is something that will be a category for people like me. Children ages 12-14. This is all they will ever know, ”Bains explained.
Non-crypto-native NFTs will not perform well
NFTs are deeply rooted in crypto-culture itself, so non-crypto-native NFTs may scale as much as crypto-native NFTs. The difference between the two, according to Bains, is that crypto-native NFTs were created organically, which is the product of the first struggle of NFT creators.
Non-encrypted NFTs, on the other hand, are considered “fairly versions” that are, those that try to take advantage of the invention one way or another. Bains particularly points out that what will happen in the NFT verse is a situation where everyone is trying to fit into the culture, but unfortunately, that may not be an effective strategy.
“One thing I’ve finally figured out is that if Drake removes an NFT, his supporters will like it, and that’s going to be fine. However, since it’s not inherently from the crypto culture, it won’t be worth the price,” Bains believes.
Bains, aware that NFTs are at a crucial stage, believes that the invention may take a different form in the near future, given that applications will cease to be popular today.
“If you look at the NFTs you’re looking at, CryptoPunks or Bored Apes, they’re organically derived from the culture itself. So my 14-year-old daughter doesn’t care if Arianna Grande gets an NFT in a few years; he will be more interested in what comes from the culture itself, because it is crypto-original, ”says Bains.
In any case, Bains is more confident that cryptography will undoubtedly become the dominant culture, which means that NFT will have its place in the future of the virtual economy.
Flipside On
- The NFT verse is still actively evolving, and it is difficult for most creators to predict what a sustainable future will be like.
- Since NFTs are in the early stages of their life cycle, Bluzelle will undergo many changes, especially with regard to NFTs.
Why should you care?
The long-term success of NFT will be determined by cultural values rather than massive adoption, which means that investors will need to pay more attention to NFT crypto-natives. Bluzelle, meanwhile, offers NFT-focused companies a decentralized approach to ensure that the security of their virtual assets is not compromised.
See the full interview here:
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