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Is NFT Hedge against Crypto Market by Vansika Shrivastava
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Nov 1, 2023
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0:00
So I'm Vanashrika Srivastava. I'm a tech evangelist and I'm a community influencer at Crowdfund Junction
0:20
I will give you a slight intro to the organization as well and with that we'll move on
0:25
So what is Crowdfund Junction? It's a crypto community DAO. We are a VC DAO
0:29
which we focus on funding the projects and more of the things of DAO and
0:35
influencer driven and more of NFT venture capitalism also. So MAT for NFTs
0:42
is another venture that we have and we are the launch partner for
0:48
celebrity, influencer, fashion, art property etc. You can find more about about these on the website itself right so how many of you actually before I
0:59
begin yeah I would like to know who all are here like into cryptos invest in
1:04
cryptos very few okay developers here okay great and students whoo students
1:18
So why are you getting in Web3? Is it the money or is it the hype or is it the actual knowledge that exists
1:25
All of them. All of them. Okay. Diplomatic answer. Okay. Cool. So, you know, there has been a lot of these things around you might have heard that
1:35
NFTs, cryptos, you know, make millions money. Why is the question. But then again, there's a very important thing to understand
1:44
that there's a difference between NFTs and cryptos. not in the terms of how they operate, but also in terms of their trading, their purpose, their volatility, and their use cases, right
1:54
So, you know, NFT is more of like, I know, it's a cryptographic token, more of a digital asset
2:01
And while your cryptos are more of like a token, like in the coin segment, right
2:07
And you can really trade them. But NFTs you cannot trade because their value is so much unique that if you hold that NFT, you cannot trade it for some another NFT
2:20
The value of each of these NFTs is very different, which is why it makes them a bigger use case
2:28
We'll talk about these use cases in the further go. But yeah, so these are the four major points where NFTs and cryptos are really differentiated, even though they are part of Web3 ecosystem
2:38
and mostly I would say use cases, right? We have all heard that cryptos, you can like
2:43
there are companies like Bikonomy, there are companies like, you know, Flint Money and all
2:49
They have got their own coins, right? Like we have validators, we have executors
2:54
So they can stake the coins, they can, you know, earn the benefits in the terms of the coins itself
2:58
which belongs to the community or which belongs to the DAO. But cryptos go into this segment
3:04
and NFTs are very, very, you know, individual type of a thing
3:08
Like you can have collectibles, you can have collections. Recently, Instagram also launched their own digital collectibles option feature actually
3:15
So now I can say that even the Web 2 companies are now shifting to Web 3
3:20
And there is a mass adoption happening. Of course, in India, the regulatory issues, the policies that are being made
3:27
is in order to control the usage. Because anything that you get in terms of maybe you might be using it for free
3:35
or maybe you know, you have that openness in the community, right
3:39
So the major problem that exists into the security ecosystem is definitely there
3:47
So yesterday I was talking to someone about blockchain trilemma, a term that I would like to introduce
3:53
where you have decentralization, scalability and security. So while a lot of products and projects are being made on the
4:01
you know, the layer well, and well protocols and all, There are a lot of things that you have to take care of, right
4:06
So that's where your cryptographic companies, all these, you know, the blockchains and everything that comes into the picture
4:13
But NFTs really enhance the creators. And I am one of the creators, but not into the digital part
4:19
My drawing is not that good, I'll be very honest. But you still do not need to be good at drawing in order to have your own NFTs, right
4:26
So this is like a major difference, like the fungibility and the non-fungibility of things
4:31
You can of course trade, you have got one Ethereum and I have got one Ethereum, we can trade, right
4:36
The value is going to be the same. Except the fact where you are just trading from, you know, there are four or five days changes because it's so volatile
4:44
But NFTs, that one is going to be always the same, mostly it's the same
4:49
And if you're giving that NFT to me, I just cannot give same kind of thing back to you
4:55
So, yeah, and investors are making investment in NFT and why is it so
5:02
It's because of the increased adoption. There's something which is called utility value, right
5:08
NFTs carry a utility value. I just cannot say just a piece of art where you're just like trading it for like million dollars, right
5:15
There must be some kind of ethnicity to that. That is why people are trading it
5:19
That is why people are, you know, there are airdrops, right? Like, you know, when you sign up for a program, you're getting an airdrop in your wallet. Right
5:27
So there must be some kind of a thing. So this kind of a thing that is utility value, which is why investor, which is even us, we
5:35
want to invest in NFTs because we can say to people that, you know, I hold this NFT
5:39
I am probably part of, you know, this particular DAO or particular community
5:43
And that's why I hold this particular NFT. So their appreciating value is often derived by two things, the creator and the scarcity
5:51
Creators are one of course who really creates all these NFTs. It's a very great creator
5:57
I mean I personally do not, I don't want to take sides, I'm not going to take names
6:02
but there are multiple creators, right? You see, you're like, okay, this is my favorite creator
6:07
Let's say PewDiePie. I'm trying to give this example from the perspective of gaming
6:12
So PewDiePie launches its own NFT collection, let's say. The fans will go all gaga about it, right
6:17
Like I want to have that NFT. So that is a creator thing that is being created
6:22
And the second thing is the scarcity. So let's say if you have two to three pieces of those NFTs only
6:29
the scarcity is super low and of course the price is gonna be more high
6:33
It's like just a demand supply thing. If the demand is more, your supply is gonna be less, right
6:38
And vice versa. So if there's a scarcity, of course the demand is gonna be more
6:42
the price is gonna be more. Now, these are like the few, I would say, use cases that I actually found out. Of course
6:51
you can have representation of the ownership that you might have when you are part of a DAO
6:57
let's say there's a super team DAO, there's a super women DAO. The tokenomics are still being
7:01
set, but when you join the community, you can probably hold an NFT. There is companies like
7:06
Social3 where they are trying to build on-chain resume type of thing, I think. And they are also
7:12
So, you know, airdropping these NFTs. So they are trying to show ownership that a person who's part of the community
7:16
can probably hold that NFT, right? Then also you have decentralized marketplaces
7:22
Loyalty points and rewards is a very, very important use case of NFT
7:26
I think Starbucks and even Mahindra, they, you know, launched their own NFT
7:31
So what's going to happen is that you will get a very exclusive, you know
7:35
features, royalties, and all these points that you can collect and use
7:39
in terms of how you would like to use the product. So I can also say that the utility value of these NFTs
7:45
can be now transferred to the real-world asset. Like you can also use it for the purpose of
7:51
you're going in Starbucks, you're going in Mahindra. We'll also talk about other companies also
7:55
which have introduced their NFT ecosystem and they're trying to provide multiple features in that
8:01
Right? So yeah, of course, digital collectibles is another one. Instagram jumped in it
8:06
I think Twitter has also launched this thing. So this is not accessible to me as of now
8:11
This is only available in US, where people can have their profile picture as an NFT
8:17
which means that they mint that on OpenSea. Does anyone know OpenSea
8:22
I think people would know OpenSea, right? Okay, anyone has minted? Okay, cool
8:28
Yeah, so you can verify your own profile picture, and then you will get like on your profile picture people can actually check out that this is a verified account like this belongs to you right What happened on Twitter is that it very easy to steal someone tweet make another account and just call that you know this is my second account and something like that
8:51
But then how do you verify? So the creator can actually go and tell that, you know, this is my account, this is my profile picture
8:57
And we all know that, you know, Twitter is 140 characters platform, like you just cannot add more things into it
9:03
So how do you verify until you get the blue tick? So that's another..
9:08
There's a lot of revolution actually happening in Web2 ecosystem and people including the Web3, I would say components
9:17
There was a fight that Web3... Web5 is also coming, right? Did anyone hear that thing on Twitter
9:25
So there was all this conversation happening. And I believe that we will never shift to this thing of
9:33
going all the way from Web2 to Web3. It's always going to be a mix of these two things
9:37
because Web3 is eventually made on top of Web2 layer itself, right
9:41
So we just cannot fight on the fact that everything is going to become Web3
9:45
Even when we say we have got decentralized applications, the application might be decentralized
9:50
the dApps that we call, right? They might be decentralized, but the chains, they're still controlled
9:55
by one specific authority. So we are yet to reach there. If someone has that question
10:01
I kind of answered that before. because people do as that you know we call it decentralized but we are not really because we have
10:08
far more to go there are a lot of security issues that come into the picture there are a lot of
10:12
vulnerability uh you're putting everything on blockchain and no one controlling it from the
10:16
perspective of chains is a very very difficult point of view cool um yeah these are another
10:23
utility tokens um gaming applications of course um you know if you have um there are a lot of
10:30
platforms actually where they're trying to you know airdrop and you know avoid
10:34
people NFT so you can actually change the skin of your person right I'm not a
10:40
gamer so I just cannot really say but I've heard a lot of you know these use
10:44
cases so I mean like whatever guns you might be having or whatever assets that
10:49
you might hold in the gaming infrastructure you can of course trade it for all these things and add those NFTs as a point of feature
11:00
Right. So, yeah, I was talking about companies investing in FFTs, right
11:04
There are these top 10s that I really got, and these are very huge, right
11:08
There is Adidas, there is eBay, Shopify, McDonald's, Coca-Cola, Samsung, Nike, Formula One, Prada, and Ticketmaster
11:17
We also got to know that, you know, there are a lot of companies that are launching
11:21
like the fashion companies are launching their own metaverse, right? So what you can do is now, you get in the metaverse
11:26
and you can finally see how that particular dress looks on you. That's a use case. And if you have an NFT, you can probably get a particular discount or maybe you can be part of the early access program, right
11:38
So, yeah, I mean, like even these big companies are trying to invest in these technologies, pretty much growing like anything
11:47
So does anyone recall this particular NFT? Anyone has a clue what it is this
11:53
No? This is Beeple. This NFT was sold for... you guys guess
11:59
69.3 million. 69.3 million. This is a collection of 5,000 digital arts altogether
12:07
And this was sold for 69.3 million. We're just talking about millions, but if you really go, there's a lot, lot money in that NFT
12:15
What is this? The second most famous NFT. Crypto Punk
12:25
Crypto Punk, yeah. Look at the picture, right? It's so... I don't know
12:31
If this would probably play in my phone, I wouldn't like to go and play this game
12:35
But, I mean, as an NFT or Crypto Punk, I think this was sold for 23 million
12:41
this year, February 2022. So, again, a huge lot of money, right
12:47
And this is a tweet. This is Jack Dorsey's tweet. And this, anyone want to guess, it was also, the tweet was also kind of sold
13:00
Any guesses? Right. So, I mean like tweet selling, I tweet a lot
13:13
I mean if you are in Web3, you have to be on Twitter, right? Otherwise you are missing out all the fun
13:18
all the controversies happening and until you get there and you tell no no no I like this particular crypto
13:25
I am eth agnostic right it doesn't really like feels like you are in the ecosystem but yeah I mean like just see
13:33
Twitter is also being sold off you can really see the amount there so the offer that was made was for
13:39
that much money. Look at the ETH that was, you know, traded and it was on March 22
13:46
Great. So yeah, these are certain use cases in the business ecosystem. I'll not go through
13:52
you know, deep into this because I feel that the audience is just trying to get the hold of this
13:57
So yeah, you can have higher document securities because, you know, NFT is being so
14:03
explicit that you just cannot duplicate it. Of course there are a lot of, I would say
14:10
a lot of things happen around that, like people just copy that entire digital art and make money on top of it
14:16
So that's one problem that exists in the ecosystem, but the verification part, except that
14:21
these are very beneficial for the terms of, you know, you want to check out how secure the document is
14:27
because you just cannot really copy it. Then paperless management. So smart contracts, right
14:34
Now we are getting from contracts on paper to going on smart contracts
14:38
Of course, these two are very different things, but smart contracts actually allows you to verify a lot of things
14:44
If you have deployed a smart contract at EVE, you can check the status of that on either scan
14:49
So again, for the non-fungible token, the verification is super, super easy
14:54
And there are signatures also which are stored in NFTs. So the process completely becomes paperless
15:01
And then you have the identity protection. So this was something that I was actually talking about when I said about Twitter
15:07
that you using your profile picture, making NFT out of it, and then people can actually verify, just open the profile picture
15:15
So I think you can check out Wito's profile because he has got one
15:18
This is a very early access feature that was provided to some people. And him being from the US side of plays, he had that feature
15:28
So we had like a huge discussion on top of it. So India is still not, you know, we don't have that feature yet
15:36
Cool. So these are the certain reports actually, you know, like combine some certain datas that you can look to
15:42
So the overall value of the NFT market is expected to rise by
15:47
$231 million by 2030. Although people are like saying there's like, you know, there is bullish market
15:54
there's bearish market, a lot of things are happening in the market. people are still very bullish about NFTs itself
16:00
And, you know, NFT market can go potentially because they are more fluid, right
16:06
And they have the ability to serve the proof of ownership. So one another use case that comes to my mind when I say proof of ownership
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and also I would say proof of knowledge is that some certain Web3 universities
16:19
I really can't, I think it's Learn Web3 DAO, right? It's also resource that someone wants to dive into the Web3 ecosystem
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learn few things. It's a very great resource, free resource. So what happens is that every time you
16:30
complete a set of course, you get an NFT. You can showcase to people that I, you know, completed this
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particular course and here is my NFT and, you know, it's getting dropped to your wallet directly. You
16:41
link it on the platform itself, right? So that's another use case that now we have, we used to have
16:48
these things, right? That, oh, I'm a student. I'm going to go study in this college, get my graduation
16:53
degree and show it to everyone. I don't know if this is going to happen
16:57
in India, but I really feel that in education stream, this could be a thing
17:01
where you have your NFTs on chain and people can verify that what education
17:05
you have done, right? That's a proof of ownership that you hold that
17:09
particular NFT as your graduation, you know, whatever certificate you call or degree you call right And then people can verify So you don have to go about you know dropping your resumes everywhere telling that you know i passed off from this college that college because it very fiver it open and it you have an ownership to it
17:26
so another development that happened was that in march 2022 uh sandbox partnered with the first
17:34
of the nft community world of women why because i believe that uh this particular thing was
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actually gait because you know usd 25 million is a huge amount uh for women in web 3
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we are still growing. Like you just look around, you will see the ratio, right
17:51
I'm not going to comment that, you know, we are not, I don't want to make that comment
17:55
But what I'm trying to say is that, yes, of course, these ratios that exist in order to enhance the capacity
18:03
and capability of women building in Web3, women builders, right? This particular, the funding that really happened
18:10
was super great for women. And in January 22, Dipper Labs, you know, collaborated with UFC so that whatever instances was happening in UFC history can be really, you know, encouraged well in the community
18:24
So now let's come to the second part of our conversation, the hedge, right
18:29
So theoretically, it means that it's a type of investment, more of like a security that you can reduce the risk of other price movements that are happening, right
18:39
So let's say cryptos are like super volatile as I mentioned but NFTs will still take time to change the amount because someone has bid the amount
18:47
They won't change it like every damn minute. If you actually go on Coin, CapEx and all these you know multiple platforms where you can actually see the trading that is happening
18:58
It's super volatile per second it changes right. And all these series of the bearish crypto market still there are NFT collections which did really well
19:08
And this was a report by Dapper Labs itself. It's also a platform for all NFT collectibles
19:14
So according to them, they mentioned this particular thing. And I believe why is it happening is because, again
19:20
the utility value wouldn't change that much. You are providing something through NFT, so that wouldn't change
19:28
So these are the certain top collections. So CryptoPunks, you can see the volume, the trading, and the sales that happened
19:35
Bored app was another NFT that was very very famous. I think they also have a club around it
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So all the people who hold those NFTs were part of this club
19:47
They could actually do a lot of things together. And other things out there
19:53
So yeah. Any questions so far before I move ahead? Yes. Okay, so hi. So my question is very out of this thing, not related to NFT particularly
20:12
but the technology. So right now we all know NFTs there, right? So we are saying NFT, NFT
20:18
So we know the numbers, right? So what is your point of view about the emotion? Okay
20:24
We know that there is a number in NFT. But people don't know what is NFT
20:31
So we are buying NFT, we are saying we have this thing with us
20:34
But what if something new comes up? Will we drop NFT? Will we drop NFT
20:41
If something new comes up? Okay, so you're asking this from the point of technology, right
20:45
NFT is going out everywhere, right? But what if something better then comes up today
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all this development and all things are going on, will the NFT be dropped
20:55
I believe no. Why? Because, see again it's an opinion thing, right? You are asking me
21:02
so I'm gonna answer this from my point of view. Why? Because anything that is being adopted at
21:07
such a mass space, right? And time, I wouldn't feel there would be a drop. Now we are going in
21:14
Web3. Do you think that the Web2 technology is actually dropped off? There are still databases
21:19
right? People still code on MongoDB. It's nothing like we are changing to IPFS database so that we
21:24
have to drop MongoDB and all. Not every company is trying to be a Web3, but they're trying to
21:29
include Web3 element because if they don't, if they don't, then they are going to lose traction
21:37
It's also something which you call business strategy. You have to include the newer technologies
21:43
because if you would not do that, people will lose interest. Today you hold NFTs. You will still
21:48
hold that NFT and next 10 years you might have some another thing happening in the world
21:54
But that wouldn't be forgotten. I wouldn't say that you know the value of the same would reduce
21:58
So we are still talking about numbers right? Yeah. Utility value. Yeah that's it right. Utility value
22:04
and the price is completely different right and NFT might be able to give you access to a lot of
22:08
things in the real world which is happening through Starbucks, all these companies. I say that like
22:13
Like let's say even if they want to bring up new strategy because you know they have
22:18
a lot of marketing involved there. Still, that entire money that people are putting in buying that NFT and getting that experience
22:25
out of it would not be taken for granted because they are a huge company
22:29
If they do that, they are going to earn bad word of mouth. Definitely, we'll have a lot more discussion about this
22:34
Sure, definitely. Right. So, there was another report that revealed that… We have one more question. Yeah
22:43
Okay, sure. Sorry. Yeah, basically I wanted to ask this from quite a time
22:48
So when you specified business solutions and you specified kind of like, you know, real estate systems
22:54
and so I want to understand how would you bring enforceability to a system like that
22:59
Like, okay, somebody sold me an NFT for their house. Now, other than a token on a Web3 system that is basically disregarded by the government to be non-existential or improbable
23:12
how would that be an enforceable factor in a real-world contract he could
23:16
basically take whatever finances requires and at the end point deny the
23:20
existence of such an NFT and obviously waving a digital token in front of a
23:25
barrister is not gonna help me in any case so at a future point it will become
23:32
necessary for the government to utilize blockchain to enforce such business structures but that's gonna take a long time so till that point of time these
23:41
use cases are practically non-enforceable while they might be amazing as concepts but
23:46
their practical utility is null. So how exactly would the government bring it to enforceability
23:53
because there is no other way those business ventures are going to work and if they do
23:58
then to what extent are we going to lose decentralization because at the end of the day we are looking
24:02
at a system something similar to POA or POS and at some point they're going to be delegating
24:08
and administrating the entire system. So wouldn't that kind of kill the entire structure
24:12
back to centralization? So, you're talking from two perspectives. Number one is the business
24:18
right? And second is the government. We cannot comment on government because they
24:24
whenever they want, you know, they change the entire notes. Crypto went from
24:30
being illegal to 30% taxation. Yeah, they brought taxation, right? It was super, but I would say the
24:36
the bigger thing that happened in the entire history of India from the perspective of currency
24:40
was a demonetization because like you're nicely having thousand of monies, 500 rupees notes
24:46
and then you got to know that there is no value of this. You put the value in that particular, you know, your paper
24:53
That paper money became paper money. So now you used to think that okay, I have 5,000 in my pocket
25:00
My aunt gave me as this, you know, money that you give after festival
25:04
because it's also festive season going on. So a lot of people will have that thing where people give money, right
25:09
And then you get to know that all of this money is useless, right
25:13
So that was a bigger thing that happened. So coming on that point, right, the government perspective
25:18
of course, Indian government will have their own regulations. You cannot go, as of now, you just cannot go to any of these officials
25:25
and show that, hey, there's an NFT for this. Because if that is the case, then of course
25:30
they would also, you know, prioritize that and make a policy around that, okay, if some person holds this NFT
25:37
then they can probably show that this house belongs to them. But that's a very, very far use case
25:42
I'm not even going there. I'm just talking about the utility value which can exist in brands
25:47
because brands have that decision. They do the marketing and they have that independency
25:52
that I am launching this thing. If you want to take take otherwise don Still there are other percentage of people who would take it right So that one thing Of course it a very far thing Second thing that I wanted to mention is that the centralization would be there no matter what right I would give you a use case that
26:11
happened in India. This is a very decent news that on Polygon, there's a police station
26:15
that is trying to record all these, you know, crimes that is happening on chain. That's
26:21
the news and that's the first police station. I don't really, I can't recall the name but
26:26
I read that news and I was like wow. People, sorry someone said something? Yeah, Ferozabad
26:35
So how can, now what if that someone just goes and says that oh you have this thing on blockchain
26:41
I will not consider this as a crime. But they have done that
26:46
No, but there's a difference between using the blockchain to just maintain a record and then turn it into a proof of ownership
26:54
So this is how you begin, right? There would be ownership of the police station saying that this is our chain
26:59
Let's say they hold that criminal, you know, into a ledger. This is our ledger
27:04
I have the ownership to that and all the crimes that's happening is on chain
27:07
We are putting it down so that everyone, you know, there's no paperwork required, right
27:12
This is how we begin because we just cannot jump on the contract part where I say that this is my house and I own it. Right
27:19
So, currently there's a lot of industries especially maybe not in India
27:23
In India also we have one or two use cases where people are promising real estate NFT based exchange system
27:30
So, isn't that very dangerously encroaching on to legality? Because you have a legal system in place which basically defines blockchain or any crypto exchange structures to be illegal or unrecognized
27:43
Because India's legal system allows the government to tax even illegal items
27:48
So at that point of time, they don't need to legalize crypto to tax it. So that means that it is still illegal, still unrecognized, still not a proof of ownership
27:57
But there are people who are pitching it. Pitching it. Pitching is a problem
28:01
Yeah, so that is… That is like something that I believe that you probably need to… that's a government
28:07
and a real estate business getting together, talking about it and figuring outâ€
28:11
But if it's a system that is basically running on a blockchain, shouldn't the community be aware and enforce something based on that
28:17
We will get there. This is India. This is gonna take time. Right
28:21
We did not know that there's a criminal record happening on on-chain and then suddenly someone
28:25
some random guy reaches there, gets to know this entire thing and Polygon is like, wow
28:29
We never thought we could record crimes on chain. They never thought it. They are the creators, right
28:34
So we are the ones who create those problems and then we try to find use cases and someone
28:38
actually initiate and then of course now government will also jump into it
28:42
They will say that this is not legal or they might legalize it. I think there was already, there's already they're tying up with the company in Austria
28:49
I believe to come up with their own digital concurrency and they're gonna compulsorize
28:53
it to kind of enter into any crypto exchange. Yes. be the base token for you to exchange into any other system. And if they centralize that
29:02
crypto system, so that basically gives them a crystal clear method of tracking whatever
29:07
is happening in crypto. You invested this much, this date here. So I guess
29:12
Yeah. Thank you so much. Right. So let's say, yeah, we are getting closer to the closing
29:22
So, we'll just do this conclusion. So yeah, there's a digital economy being set now around NFT's cryptos board
29:30
NFT specifically why? Because again, the use cases are becoming huge. Another use case that I want to share
29:38
How many of you were in Web3Conf Goa? From here? Anyone? Okay, one hand. Okay, even I was there
29:49
and I bought like a hundred dollar ticket in order to see how the entire ticketing experience is
29:56
So ticket is another great use case for NFTs. Entire, like let's say you are going to watch a Marvel movie
30:04
It's a first day, first show. You get an NFT for that and you can now show it to friends that
30:08
hey, I'm very cool because I watched this movie. And what your friends would be like, what if that was like, you know
30:14
you saw a pirated copy. People are not ready to believe when it comes to these kind of movies and releases
30:21
But now you have that NFT and you can showcase that, you know, actually I have that NFT from PVR cinemas
30:26
I believe they are going to do something great. But yeah, it's still in the process. India is going to take its own time. We are still learning about the technology itself
30:34
So building on top of it and then legalizing what he mentioned, it's going to take our time. Right
30:40
So there's an entire digital economy being unlocked right now, even in the bearish market
30:46
There is recession happening in US, so a lot of problems for them
30:52
But I think India is gonna face like a now new boost of energy and startups actually happening
30:59
And digital economy is gonna play a very very major role in that. Right
31:03
And with that, I will conclude to the session actually. And just want to notify that we at Crowdfund Transition, we are trying to hire people, right
31:14
We are looking for project managers, blockchain developers, growth hacker and more
31:19
You can take this picture of the QR code or maybe just scan it on Google Lens and you'll
31:25
be directed to the Google Form for filling out the details if you are interested
31:32
You can read more about us on the website that's mentioned down there
31:35
So yes that's one. Okay. Cool, right
31:52
So this is one thing. Second thing that I would like to announce that we are partnering with ETH Waitnum
31:59
We are the official partners for ETH Waitnum. We are looking for collaborators, sponsors, you know, so if you are interested, you can
32:09
check out the website or you can also connect with me and my team which is here about eTweetNum
32:15
We can give you more information, but for the reference, you can check out the website
32:19
So this is going to happen in the month of November itself
32:23
So yeah, do check out, right? And with that, I will close the talk
32:31
We can take couple of more questions if anyone has. But if you want, we can connect on Twitter and LinkedIn
32:38
Right? Any more questions? You can talk from the perspective of Web3 also
32:47
If there's one, if you want to ask. Sorry, come again. Is there any method to check the duplicate NFT
32:59
A method to check? Okay, you mean the duplicacy that happens, right
33:03
I am copying one NFT to another. Is there any method to check which one is the original
33:09
Contract address. The creators OpenSea, right? You can actually go on their profiles and the contract address is verified if it belongs to them
33:19
you copy your contract address is gonna be different and the creator can actually sue
33:24
you for doing that. It's completely available on OpenSea. So someone actually what they
33:30
did is, I had this one picture posted on Twitter and someone said we can make an NFT out of
33:36
it. I said go ahead. So this guy created an NFT, it's on his contract address but it is
33:42
my picture there, right? So I still hold that value. I mean like there was no amount to it
33:50
actually, no price and nothing. But yeah, I mean like people create NFTs like a memes
33:54
also. You know, they are like we just sell this meme for thousand million dollars and
33:59
you own this or maybe you sell tweet. So contract addresses where you actually can verify the
34:04
creators that is there on OpenSea and other platforms, marketplaces, they have got their
34:09
own set of credentials. People know those credentials if you do that they can
34:14
actually have a legal case against you also. So that is completely verifiable on
34:19
the chain itself. Any more questions? Last one that I'll pick if someone has around Web3, Crypto and NFTs
34:31
Cool okay no more questions. Thank you
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