Updated: Apr 6
Take a look back at the first few days of SXSW and its view on Digital Assets. Catch the whole TXi team in Austin this week as we take on SXSW!
The first weekend of SXSW has been filled with discussions on Web3, NFTs, and the future blockchain in content creation. So much so that during a panel, "Predicting the Future of Entertainment with Fireside," Mark Cuban was quoted as saying, "if you are a content creator and don't understand blockchain… you're f#%&ed." I have found Mr. Cuban's quote to be a central idea conveyed during the first days of SXSW in Austin, Texas.
SXSW is propelling the future of Web3 and NFTs, and if I had a dollar for every time I heard "Web3," "blockchain," or "NFT," I could retire.
Blockchain Creative Labs Manufactures a New Experience at SXSW
On the first day of SXSW, we previewed a sponsor leading the charge for all of these concepts, Blockchain Creative Labs (BCL). BCL is a Fox Entertainment Company that has partnered with various artists featured at SXSW to mint and distribute NFTs, whether for songs, TV shows, or film premiers/posters.
The Blockchain Creative Labs event and display are hosted at Trinity Hall. As you enter, you are greeted by smiling faces and a literal portal into the digital world of NFTs. The space features a bar pushing out Liquid Death, the infamous canned water from Austria.
The space features an area for collaboration and introduction into the digital world and all that Web3 offers. Outside of that, the Trinity Hall setting features floor-to-ceiling screens displaying the various NFTs created by the Blockchain Creative Lab's artists and programming, such as:
Meeting place (say hello if you see us!)
BCL gives festival-goers an ear to the ground take on the future of digital art and assets held on the blockchain.
The collaboration between SXSW and BCL provides the first SXSW NFT marketplace, allowing creators to connect with festival-goers in new ways.
Perhaps the most innovative aspect of that partnership is the POAP (Proof-of-Attendance-Protocol) tokens. These assets are a memento of time at SXSW that will live in the blockchain — no more holding on to ticket stubs from your favorite shows!
Yet Again, SXSW Previews the Future of Business
Philanthropy is another layer to the experience, not just a "get rich quick" mentality. If an NFT's creator decides to donate the proceeds from their NFT, they will be donated to Action Against Hunger.
Why am I even talking about this?
Well, this is the future. Companies, artists, advertising agencies, and sports leagues are betting big on the digital space and the way we interact with brands and each other. With developments of the metaverse and immersive digital worlds, digital property is a given.
The crowd is filled with forward-looking, open-minded individuals looking to end the legacy of outdated tradition.
This transition is a beautiful thing, conceptually. We can take abstract things and input them into a new world. A new medium of interaction — a new tradition is emerging — a new world of possibilities. Come along for the journey with me into the future of digital assets.
Talks in the crypto space point towards a decline of interest in NFTs. My experience at SXSW says otherwise. The longest lines for any events I have tried to attend are all for NFTs and digital assets. Talks focusing on the future of NFTs outside of art and collectibles. There is a desire for the tokenization of assets and ownership of fractionalized shares of physical property or assets.
What I mean by the talks about the declining interest of NFTs is the regular display of google search trends for the word "NFT," which has shown a decrease relative to the "peak of interest."
I have been to many music festivals, and if you love festivals, you will be blown away by SXSW. This one big festival situated in the city of Austin provides not only professional growth but personal growth.
Looking for more information?
Listen to Ep. 10 of The Great State of Innovation podcast for a preview of our coverage at SXSW.