GRAPEVINE, TX – Despite consumer interest in NFTs plummeting, businesses are still eager to get their foot in the door of the Web3 space at any cost. Be it an existing company undergoing a digital transformation that should have happened a decade ago, or a startup solving a problem that doesn’t exist – many are banking on the technology powering the world’s premier collection of monkey jpegs to save the day, for some reason.
We sat down with Ryan Francis, the CTO of one such company, to learn about their motivation behind pivoting away from traditional modern system architecture to p2p blockchain solutions.
“Well, it’s not the 1990’s anymore buddy,” Wallace condescendingly remarked. “Who would want to use free software abiding by the boring, old, milquetoast client-server architecture that’s reliably stood the test of time when you could be using shiny new blockchain apps with a considerable financial & technical barrier to entry?”
“It’s a no brainer, and honestly pretty cringe that you even asked.” he added.
Web3 applications, NFT marketplaces in particular, have come under mass scrutiny in recent months as many consumers fail to see the value of the model. Despite this sentiment, Francis maintains it’s the consumers who are misguided and don’t know what they’re talking about.
“Sure, traditional databases might be several orders of magnitude faster & cheaper than writing data to a blockchain. Also yeah, existing digital marketplaces are already incredibly intuitive & easy for b2b integrations. And right, it’s pretty comforting as a consumer to have your transactions & assets protected by FDIC insured institutions.”
“But with NFTs, you could be the proud owner of a pointer to an image hosted on a database you have no access to on a server you don’t own.” he proudly continued. “Sure, it might take longer for that data to be validated & settle, and it might cost a lot more, but good things take time! I mean, look at Star Citizen – a few more years and the game is almost ready to be playable.”
Photo by Jp Valery on Unsplash