BOOMN announced an update of its ecosystem
BOOMN, the premier audio-based blockchain technology company, announced an update to their ecosystem. BOOMN just touched down from BattleFin where CEO Daniel ‘Draydel’ Sado joined Jordan Fried – Founder of NFT.com, Investor Michael Weinberg – Weinberg Family Ventures, and Rob Nelson – Roundtable Executive Producer on a panel to discuss the Evolution of the NFT Ecosystem.
The two-day immersive digital assets conference was set atop the Intrepid Aircraft Carrier at Pier 86 along the Hudson River in New York. BattleFin brought together top institutional investment firms interested in the Digital Asset space with partners who are shaping the future of the projected $147 billion dollar NFT industry (currently $38 billion and expected to quadruple in the next five years). The focus was on data, insights and achieving operational excellence.
Sado took the stage to speak about the different NFT collections and how it’s all about utility. The history of NFTs evolved from photos to utility and eventually physical ownership. Utility NFTs are in essence a description of the valuation that an NFT has: perks, access, rights, and opportunities for token holders. When an investor buys an NFT, they automatically become part of a limited number of token holders.
The blockchain-based connection between creator and investor can be leveraged numerous ways. Creators can use utility NFTs as a new revenue stream and a strategic way to connect with their audience.
For example, BOOMN is revolutionizing the way we listen, interact, and engage with each other using audio. Creators attach a piece of media to their audio (prerecorded or live). When their audience listens to that audio and verifies it with the “proof of sound” protocol, the attached media is minted as an NFT and sent directly to the listener’s wallet.
BOOMN verifies tokens, media, tickets, and invites through audio-verification protocol, meaning a limited number of people can access exclusive rewards given by musicians, podcasters, keynote speakers, live streamers, among others, queued to drop during a played audio or live performance.
“The consciousness of humanity is changing and Web3 will be the backbone of this new society,” Draydel expounded.
The summary: The future of NFTs will be about utility, not collectibility. As NFTs develop, more emphasis will be given to the practical use they provide: secure transactions, function, and perks between creators and investors, everyday business brands, and secure contracts.
Draydel (multi-platinum producer, DJ and audio engineer) also performed on Day 1 of BattleFin underneath the Concorde Jetliner. On Day 2, BOOMN’s COO Jillee Parker (musician, artist) performed for the entire BattleFin company and Intrepid crew alongside Rob Base as well as C+C Music Factory. Proving once again that they truly live what they create.