BW Businessworld Web 3.0 Summit and Awards 2023

The event

The BW Web 3.0 Summit & Awards 2023 was hosted by BW Businessworld. The organising team included Annurag Batra, Tanvie Ahuja, Uday Laroia, Mahek Surti and Baani Chauhan.

The talk

Rrahul moderated a debate titled "NFTs: Creating economic opportunities & utility for the creator economy, or a non-starter for forward-looking brands & creators". The session was streamed live at 4:10pm.

For the motion

Sristhi Assudani, Region Lead, IEEE Blockchain APAC Technical Community
Rohit Agarwal, Founder and CEO, Alpha Zegus
Vatsal Gaur, Partner, King Stubb & Kasiva, Advocates & Attorneys

Against the motion

Aman Sanduja, Founder, Black Rabbit Studios
Anirudh Rastogi, Founder & Managing Partner, Ikigai Law
Chirag Mehta, Business Development (Asia & MEA) and Lead Consultant, Tokenomics DAO, BrightNode
Sagar Pratap Joisar, Founder, Xenon Labs

Key points

The case for NFTs

NFTs give creators, artists and brands a new way to earn from their work directly. By turning their creations into NFTs, they keep ownership, skip intermediaries such as galleries, agents or streaming platforms, and connect directly with their audience. This can raise their revenue and give them more control. It is the decentralised economy that Web3.0 makes possible.

The case against

Some brands and creators see NFTs as a non-starter or approach them with caution. The main concerns are the energy use of blockchain networks, high transaction fees, the risk of copyright infringement and market volatility.

FAQ

Frequently asked questions

What did Rrahul Sethi do at the BW Businessworld Web 3.0 Summit and Awards 2023?

At the BW Businessworld Web 3.0 Summit and Awards 2023, Rrahul Sethi, Managing Director of Metaverse911, moderated a panel debate on whether NFTs create economic opportunities and utility for the creator economy, or are a non-starter for forward-looking brands and creators. The session was streamed live at 4:10pm.

Who organised the BW Web 3.0 Summit and Awards 2023?

The BW Web 3.0 Summit and Awards 2023 was hosted by BW Businessworld. The organising team included Annurag Batra, Tanvie Ahuja, Uday Laroia, Mahek Surti and Baani Chauhan. Rrahul Sethi of Metaverse911 moderated a debate on NFTs and the creator economy at the summit.

Who spoke for and against NFTs in the debate moderated by Rrahul Sethi?

In the NFT debate moderated by Rrahul Sethi, Sristhi Assudani of IEEE Blockchain APAC, Rohit Agarwal of Alpha Zegus and Vatsal Gaur of King Stubb and Kasiva spoke for the motion. Aman Sanduja of Black Rabbit Studios, Anirudh Rastogi of Ikigai Law, Chirag Mehta of Tokenomics DAO, BrightNode, and Sagar Pratap Joisar of Xenon Labs spoke against.

What is the case for NFTs in the creator economy?

The case for NFTs, as discussed at the BW Web 3.0 Summit 2023, is that they give creators, artists and brands a new way to earn directly from their work. By turning creations into NFTs, they keep ownership, skip intermediaries such as galleries, agents or streaming platforms, connect directly with their audience, and gain more revenue and control.

Why do some brands see NFTs as a non-starter?

Some brands and creators see NFTs as a non-starter or approach them with caution, as discussed at the BW Web 3.0 Summit 2023. The main concerns raised were the energy use of blockchain networks, high transaction fees, the risk of copyright infringement and market volatility.

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