Widespread adoption of NFTs could be in the offing, but we need simple solutions for users, Gorilla Funds’ Jakob Sievers tells crypto.news at NFT Show Europe.
According to Jakob Sievers, CEO of Gorilla Funds, a Germany-based web3 company, Web3 is already poised to fundamentally change the way we work during his recent speech at NFT Show Europe in Valencia, Spain.
Sievers gave real-world examples from potential NFT users, such as artists, event organizers, and fitness companies. However, he stressed that the lack of necessary tools hinders the journey to mass adoption, the complexity of NFT technology, high cost barriers and the reliance on people owning crypto wallets, a condition not yet met by many potential users.
You might also like: Crypto Twitter was excited about Google Play’s addition of NFT support
For example, the possible strategies to remedy this for a fitness company could be offering an accessible solution to manage NFT smart contracts and combining NFTs with existing web2 solutions.
It’s also crucial to make the design easy to use, “need nothing more than a QR code” for joining, and informing users about the end of the subscription with an instant purchase offer. Hybrid web2-web3 solutions are crucial to support this adoption phase by providing users with a familiar framework.
Looking ahead, the development of user-friendly components for tickets and coupons can provide customization options. Integrating fiat payment solutions can also lead to seamless transactions.
You might also like: A complete guide to NFTs
The CEO of Gorilla Funds responds to crypto.news’ questions
Crypto.news had the opportunity to speak with Jakob Sievers after his presentation:
Crypto.news: There is still a small percentage of people who know and understand NFTs. How can we drive mass adoption?
Jacob Sievers: I think we need to write software for that. The software should be as simple as a typical web2 application. If it looks like a web3 application, people won’t use it. So we have to make it simple. People will start using such products in the future, but we need to help them slowly transition to using them.
Crypto.news: Many web3 solutions already look like simple apps, but something prevents people from using them. Why is that?
Jacob Sievers: It is very interesting because in my opinion it is easier if you are used to a wallet than to make a bank transaction. But there is a lot of fear of trying something new. We need to help people overcome this.
For example, if someone wants to buy an NFT and the first thing you ask them is to write down their 24 word seed phrase, they’ll get lost. They are afraid. They think, “What should I do with these words?” So we have to look for another solution. There are already other things, such as test accounts for example, that do not require the wallet from the start. And this can be a trick to get them to use a wallet.
Crypto.news: You mentioned possible web3 solutions for fitness companies during your speech. Have you already implemented this somewhere?
Jacob Sievers: Not yet, but I think it would be a good example. If a company wants to build its solution, it is costly. However, if you have an open source solution, complex companies can easily deploy a website and then use NFT membership solutions that are available to everyone. The NFTs may provide access to online content. For example, a trainer can create his brand with NFTs and many fitness companies can access his online courses.
A company could start by offering a simple solution for memberships valid for three months. When the time is up, you will receive a notification asking you to buy the next NFT very soon. With just one click you have your next subscription. I hate gym subscriptions and would really appreciate such a system. As soon as one fitness company starts it, others will follow.
Crypto.news: What are your thoughts on the future of the NFT market?
In my opinion, we will essentially have a “digital twin” for almost everything. These digital twins are realized as NFTs and linked to the real world. They will be on the blockchain because it is much easier to track, and software will be available for it. So when this happens, everything has its digital twin.
Read more: NFT Show Europe: participants meet brands and leaders building web3