NFTs have become most well-known as pieces of collectible digital art, from CryptoKitties to Bored Apes. But as creators continue to experiment with the applications of non-fungible tokens, the world of NFTs is growing more and more diverse and complex. Crystal Rose Pierce, the founder of Lighthouse NFT Smart Gallery in San Juan, joined Roundtable to discuss the next generation of NFT applications, from design to collectibles to sports.
Legacy brands have begun developing NFT projects that treat the tokens as collectible luxury items on par with luxury goods.
“The next wave is coming, and this is really about goods, anything that has provenance, anything that can be tracked with authenticity,” she says, referring to ongoing projects by Louis Vuitton, Dolce and Gabbana and Nike.
Those companies, Pierce explains, have explored two distinct paths.
“One is the NFT represents the actual physical item. We're still working on what that looks, like a chip inside of the bag. Some handbags already have it,” she says.
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“The second version is the metaverse version. Nike has shoes now that are going for hundreds of thousands of dollars that are fully digital, metaverse collectible items. There's going to be a convergence where we see things like wine, something that has deep provenance, that is really a collectible, but has a very important period of history that is associated with it as well.”
Watch the full discussion below:
Crystal Rose Pierce, Founder, Lighthouse NFT Smart Gallery