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Powering the Metaverse with NFTs & digital cash

Powering the Metaverse with NFTs & digital cash

Event recap – European Blockchain Convention Barcelona

The European Blockchain Convention took place in Barcelona from 26 – 28 June 2022 and featured a variety of presentations from speakers involved with BSV blockchain and the surrounding ecosystem.  

More than 1,500 attendees attended the conference, with more than 120 speakers presenting at over 40 panels, keynotes, workshops and fireside chats over the three days. 

BSV blockchain was featured in several panel discussions during the conference, including a presentation by Rafa Jiménez, the Co-Founder and CTO of HandCash and a panel discussion on non-fungible tokens (NFTs) can be used as a tool for content creators. 

HandCash – building the Metaverse economy

Jiménez began his presentation by asking the simple question of ‘what is cash’. He noted that cash is effectively a P2P system that is immediate, has no intermediaries and has no fees. He added that this has not translated to the online space, where there is a list of problems with trying to make payments online. 

The main issue is the high fees for existing payment methods, and if businesses want small and fast payments they effectively need to build their own infrastructure. Building this infrastructure comes with a cost and requires expensive expertise. He added that this is usually prohibitively expensive for smaller businesses and startups.

Jiménez said the vision for HandCash is to have one single account with your balance that you can connect to many applications, games, and other platforms. He added that the cost for these transactions is negligible, it’s stable, it scales and the rules of the BSV Blockchain do not change. 

He said that users can connect their wallets to HandCash and begin making payments instantaneously. The team is also working on introducing stable coins and the ability to withdraw to your bank account. The team is also working on several SDK tools for developers which are set to launch shortly.

Jiménez also detailed some of the businesses which are making use of the BSV Blockchain right now, such as Haste Arcade which aims to replicate the traditional arcade model online and allows users to earn real money for high scores. PowChess is an online chess platform which allows players to compete for real money online, while DuroDogs offers virtual pets as an NFT.

NFT: The next-generation of tool for content creators

Albert Mundet, Barça Innovation Hub Director at FC Barcelona, welcomed Jimmy Humania, Web3 Chief Marketing & Growth Officer at Chingari Network, and Michał Scisłowski, CEO at Soundoshi, to discuss the world of NFTs.

The panel focused on how NFTs can be used as a positive tool by content creators to reach more people and grow engagement. One of the most obvious ways that NFTs can be used by artists is as a fundraising tool instead of trying to sign deals with labels and publishers.

Another potential use case is tying NFTs to engagements and time spent on social media, with users able to ‘gamify’ their fandom for a specific artist or hobby. This can extend to rewarding people for listening to a specific song, watching a video or interacting on a platform. Humania provided an example of micropayments to people who like or share a specific post on Instagram.

The BSV blockchain also allows paintings, music videos and other pieces of art to be launched directly as an NFT. This allows customers to actually own their unique artwork and potentially sell it on at a later date, Scisłowski said. He added that much of his work now at Soundoshi is preparing for the transition to Web3, with the company focusing on providing NFTs that are not just a link to a sound file but an actual song which can be bought and sold on the platform.

You can read more about the European Blockchain Convention here. To read more about Handcash and how it ties into the BSV Blockchain head over here.

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