Flow

  1. Please briefly outline what your project is doing?

Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, entertainment apps, and the digital assets that power them. Flow is the only layer-one blockchain created by a team that has consistently delivered excellent consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA Top Shot.

CryptoKitties was the most popular dapp when it was launched in 2017, clogging the Ethereum network due to its success. NBA Top Shot, running on Flow, has become the fastest-growing blockchain application, generating over $700M in sales within 6 months of the public launch. That was also possible thanks to Flow's scalability and consumer-friendly onboarding experience. With over 300 projects in the pipeline reaching out to build on Flow, we are eager to see a great ecosystem flourishing.

  1. What do you think is the biggest application area of NFT?

NBA Top Shot has demonstrated that digital sports collectible experience is here to stay, powered by the blockchain. Thanks to its success, all major sports leagues worldwide are reaching out to build similar experiences on Flow. Since the launch of NBA Top Shot, we noticed that collectors who used not to watch NBA games that much suddenly became way more engaged and started following each match more closely. We strongly believe that the new digital experience offered by NFT will unlock a new level of fan engagement.

Another category we are going to see massive growth in is probably the gaming space. As Max Weber, CEO of Chainmonsters, correctly put it, what we have seen so far has been a lot of play-to-earn type of blockchain games, or ones that are heavily reliant on the financial incentive. However, we believe that more often than not, truly massive games are played because they are first and foremost fun games. For that reason, we are eager to see teams focusing more on the actual gameplay rather than prematurely jumping into the tokenomics or farming side. There will always be core players who will make a career out of it, but most users should not be financially motivated. They should come to play and possibly spend some money on the game because it is fun, not for any specific financial return. When I played League of Legends, I was willing to spend some cash for particular skins I liked. I would probably be willing to pay more if that skin were a transferrable NFT; however, I would probably not expect to buy it so that I can sell it later. That is how I think a blockchain game could attract the next 1M or 10M players.

  1. What do you think is the biggest limitation encountered by NFT in large-scale applications?

Outside of Bitcoin and Ethereum, I don't think the blockchain infrastructure is a limitation anymore regarding large-scale adoption for NFT or general blockchain applications. We have seen many new generation layer-one solutions in the last few years, including Polkadot, Near, Solana, and Flow. All of them can serve a large-scale consumer audience, just as the example of NBA Top Shot on Flow demonstrated, which reached over 1M registered users within few months.

The biggest roadblock we see for consumer-scale adoption of blockchain applications resides in the user experience front. We have come very far from the early days of the crypto experience, where you might be expected to interact with the blockchain via your local terminal. However, we still see considerable onboarding friction where a new user might have to take 5-8 steps just to get started (e.g., download wallet/metamask, get an account on Coinbase or another exchange, buy token, transfer token...). We demonstrated with NBA Top Shot and Dapper wallet on Flow that mainstream consumers are eager to participate if the experience is smooth and offers a low barrier for new users.

  1. What is the most anticipated part of your next project?

For Flow, the most exciting part is probably seeing the growth of the ecosystem across the globe. We are seeing amazing teams coming up with a variety of blockchain empowered use-cases targeted at the mainstream audience. Projects that have launched on Flow Mainnet include NBA Top Shot, MotoGP by Animoca Brands, Olympics with nWayPlay, NFT marketplaces like VIV3, Versus, massive multiplier games like Chainmonsters, and card collecting games like Dark Country, among many others.

We are eager to see pre-announced projects like Genies, UFC and Dr, Seuss launching on Flow in the near future.

  1. Website: https://www.onflow.org/