Founder and CEO of Algorithm Research, economist and startup expert Ketaki Sharma gave a lecture on Living in an NFT Renaissance during SlavConf. Reinforcement on 31 October 2021.
During her presentation she explained how NFTs are created, why they are valuable and the reasons their popularity keeps increasing. According to Sharma, from the point of view of the artists, NFTs are a great opportunity right now which helps small creators by allowing them to sell digital art directly to their clients and get better value for their products.
The presentation also included an overview of marketplaces where NFTs can be sold and bought as well as charts demonstrating the monthly and yearly growth of NFTs over the past years.
Artists have talked about them not being able to code therefore not knowing how to create an NFT which is a common misconception, says Sharma. Currently platforms have given them the opportunity to do that without coding. She demonstrated live how an NFT can be created using such platforms. “If you can code, you can create other types of NFTs, but generally this is not a limiting condition”, she concludes.
From the point of view of an investor, it is very different from investing in stocks. “So how do you identify an NFT? Because this is a very different ballgame, this is art work and it’s quite subjective.” – stated Sharma. She explained the different criteria that are important to take into consideration when trying to determine the value of a piece.
“I would strongly encourage you to look at NFTs as an opportunity, as something that brings back power into your hands as a creator. And as an investor, look at this new avenue to put your money into.”