A network that allows individuals to transfer information and value will likely replace the internet soon.
Chat de Reus owner and founder Maayan Bachar told The Jerusalem Post that the upcoming decade would see individuals trading the world’s most valuable assets through NFTs (non-fungible tokens) and blockchain technology.
NFTs are blockchain-based technology that ensures the digital representation of digital or physical assets. This new technology allows tracing property ownership and confirms its authenticity, guaranteeing amplified transparency.
Meanwhile, investors can trade the asset relatively easily. Moreover, NFTs come with smart contracts that give holders various rights.
Bachar, an investment and real estate attorney, launched the first-of-a-kind CNFT in Israel last year. The CNFT Incubator is an initiative that develops unique NFT collections in the sector of digital art and fashion, plus innovative products that might ensure new use cases for blockchain and smart contracts.
Bachar confirmed her involvement in digital currencies and blockchain usage in the real estate market for years. She admits NFT offers a way of combining fashion and art, promoting the finance and investing industries. Meanwhile, Bachar started working on her initial NFT during the COVID peak, focusing on art and fashion.
NFTs exploded into the public in 2021 and have attracted celebrities, fashion brands, leading retailers, and gaming companies, which have invested in the emerging sector. Reports suggest the NFT industry is worth about $35B in 2022, and analysts expect the valuation to burst to $147B come 2026.
The enormous worldwide interest had Bachar developing her CHAT DES REUS brand (French phrase for Street Cats), the initial digital luxury platform for art and style. The brand’s collections comprised a limited edition series of fashion, handcrafted art, and jewelry items connected to virtual assets (non-fungible tokens).
Bachar stated that the brand targets to overcome boundaries between reality and imagination. She added that street art and pop culture inspired their art items designed with high-end technologies.
Moreover, she trusts regulation will ensure improved industry stability and support new use cases for blockchain and NFT technology. Bachar remains an optimist for NFTs and cryptos’ future.
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