NFT​.NYC expecting ‘diverse and eclectic audience’ to drive utility narrative of NFTs

NFT.NYC, one of the largest nonfungible token events, is preparing to open its doors for a fourth year, celebrating the diversity of NFTs across 16 sectors, including art, film, sports and ticketing. 

Held from June 20 to 23 in New York City, the blockbuster event will serve as a global melting pot of everybody who's anybody in the NFT world, showcasing 1,500 speakers across panels, talks, fireside chats and hundreds of pop-up events. Attendance figures are expected to soar from last year's 5,600 to over 15,000 this time around.

Cointelegraph spoke to Jodee Rich, co-founder of NFT.NYC, and Quinn Button, its vice president of growth, to hear more about their expectations for the New York event. They also discussed how the current market conditions could impact the momentum of the NFT movement and the artistic conversations it cultivates. 

With a conscious emphasis on prioritizing the desires of the community over brands or corporations, the NFT.NYC team selected 221 emerging international artists from an application pool of 5,000 to display their work on a Times Square billboard and throughout the Marriott Hotel. 

Following the event, these artists will have the opportunity to mint their work at a price of their choosing and retain 75% of all revenue generated from the primary and subsequent sales. Specific details on purchasing are ye to be announced. 

In collaboration with 221 Community Artists, we are very excited to launch "The https://t.co/1IrDLHe1py 2022 Diversity of NFTs Art Collection".Artworks will be displayed on Times Square and throughout the event. Some pieces will be available to mint.https://t.co/cup0e2EYF7

— NFT.NYC (@NFT_NYC) June 9, 2022

Speaking on the ubiquitous community of NFT fanatics scheduled to converge on the Big Apple, Rich proudly shared that it’s a “very diverse and eclectic audience”:

“Our thing is about giving the community a voice. That’s what we wanted to do since the beginning. We’re not an event that goes hunting for celebrities — we want the community to feel that this is a place where they can be on stage and talk to the rest of the community.”

This resolute intent to empower youth and passion with a platform is perhaps most aptly witnessed by the introduction of Unconference — an impromptu, non-scheduled stage welcoming all guests for a 10-minute slot to share their ideas and visions for the space.

Related: We saw mainstream adoption for NFT art kicking off in 2021, says NFT.NYC co-founder Cameron Bale

Ether (ETH) is arguably the most integral asset within the NFT space, yet it’s precariously sustaining a $1,200 price level at the time of writing, having already fallen 35% over the week.

This decline has had cascading consequences on the price floors and purchasing sentiment of leading NFT collections — most notably, profile-picture-projects — plunging the space into its inaugural bear market. 

Speaking on the potential impact this misfortune could have on the overall narrative, Rich was keen to express that art is the primary utility of NFTs and that his excitement remains for the connections and friendships that will be formed at the event — especially, for instance, those during serendipitous moments in casual conversations in line and between speakers on the same stage.

Button concurred with the assessment that countless use cases for utility would be showcased throughout the different sectors, highlighting music as one to watch:

“I think one interesting utility of NFTs will be how they will disrupt the music industry, whether that’s royalty rights, merchandise or generating new revenue streams to really connect musicians with their fans.” 

NFTs used for good have experienced a rapid acceleration into the spotlight this year, especially in relation to the support of Ukraine’s humanitarian relief effort and cultural diversity agendas.

At NFT.NYC, topics within that realm — such as sustainability, mental health and wellness, and philanthropy — will be highlighted across a total of 28 panel discussions and talks at the Edison Ballroom South hosted by Chingari from June 21 to 22.

Cointelegraph’s senior reporter Rachel Wolfson will be hosting a 15-minute fireside chat on June 22 titled “Breaking the Boys Club Culture in Crypto: How NFTs are Bringing Women into Web3” at the Edison Ballroom Main.