Announced last March, the NFT plant will open its doors next fall. In the meantime, she organized her first event that provided an overview of this futuristic space dedicated to digital things. Meet Co-Founder Lucy Eleanor Riveron.
The CEO of auction house FauveParis, which she co-founded in 2014, Lucy-Eleanor Riveron is passionate about NFTs. She is also the co-founder and spokesperson for the NFT Factory, which will gather a French ecosystem around these digital beings at the start of the school year. pathfinder I was able to speak with her on the occasion of the first event of this futuristic venue dedicated to the environment.
Where did the idea for the NFT factory come from?
Many countries are wondering what is happening in France, because there are already a lot of projects, but above all leaders in the NFTs, in several areas. We have for example Ledger in crypto asset security, Sandbox in the metaverse or Sorare in entertainment, to name a few. We also have a lot of great artists like Pascal Boyart, Agoria and Oburred, really famous artists on the international scene, and really great collectors like Benoît Couty, founder of MoCA (Museum of Crypto Art).
In fact, we have all of these actors and all of these actresses who have already reached the top of their game globally and there is real excitement about NFTs in France. It feels on the outside. L’idée, c’était de regrouper tous ces gens pour les faire se rencontrer et transformer cette effervescence en quelque chose de vraiment construit, qui va pouvoir consolider l’écosystème français des NFT pour faire de la France l’un des aux leaders the field.
Why was this event dedicated to the environment?
We’ve dedicated it to the environment because it’s essential. This is still the main issue at the global level today. It’s fine to say that blockchain, Web3, and NFT are the new revolution, and that they’re going to change our lives, but there’s no point in creating a revolution if we aren’t concerned with the positive impact of what they can do to help save the planet. At the base of Web3 is the idea of a better world, and that also means a livable world. We all know that there is a lot of criticism against NFTs. The first thing I’m told when I talk about it is that NFTs are contaminated.
The idea from this event was to do a first inventory and maybe do it annually, to show from the start that – since we’re still in the beginnings of NFTs – the crypto community, the NFT, is not disconnected from the world, and disconnected from reality. On the contrary, we deal with societal issues directly, and if there is indeed a societal problem, it is related to the environmental impact.
This event was also an opportunity to demystify the bad side of NFTs for the environment…
exactly. It cannot be said that NFTs do not pollute, but the blockchain will continue to function even if there are no NFTs. It is not the fact that it was created on the blockchain that pollutes it as such, because the very principle of the blockchain uses energy and therefore emits greenhouse gases. Very old blockchains like Bitcoin and Ethereum – the first to host NFT – depend on a consensus protocol called proof of work (Proof of Work) that makes thousands upon thousands of computers solve the same algorithm and whoever succeeds will have the right to validate the block and then enter the transaction into the blockchain. It is an old protocol that has already been replaced by new protocols like proof of stake (Proof of Stake) which consumes 99.5 times less energy and therefore greenhouse gas emissions. Ethereum is also in the process of transitioning from proof of work to me proof of stake.
Once we say it’s a little polluting, it’s important to rephrase the context, to say that the digital figure – as a whole – is 4% of greenhouse gas emissions. In other words, 96% of emissions come from other industries, such as aviation or aerospace, which consume more energy. For example, 40% of private jets operate empty and one year of private jets represents 167 years of greenhouse gas emissions for the average Frenchman. Finally, 4% of emissions from digital is perhaps the most beneficial, as it can reduce 96% of emissions from others. We’re not in the customs clearing stage, and saying we don’t pollute, but we should take a short walk, rephrase the context.
Can you go back to having to find another term for Web3 that you mentioned during the conference?
I don’t necessarily commit NFT Factory to this thread, these are already ideas I have, but I’m not the only one. What is still called Web3 today is not a continuation of Web2. The philosophy is to correct everything we don’t like about the current web a little bit, namely the fact that content is consumed without asking creators and creators a question, and they don’t own its data and its continued existence. observer.
The idea is to keep your data, because everything is encrypted. Everything is transparent, but we do not reveal our identity. We keep our personal data, which allows us to interact with a digital world, but also to become the owner of digital assets. And when that happens, we become supportive of the project, supportive of the creators rather than consumers. This really changes the concept of interacting with digital technology. At the basis of all this, there is also the idea of a decentralized world, and therefore individual responsibility. We are in some form of rebirth, because we are no longer dependent on Gafam and we are very responsible for what we are going to consume, anyway, what we are going to support.
The downside when you become very responsible is that there is no “forgot password” button, for example. This means that you are responsible for what you buy and what is in your wallet. If you lose it, there is no central organization or customer service that can help you get it back. It really is a completely different concept of accessing and interacting with digital. That’s why I think we should really think about finding other terms.
The lack of women in the web, more specifically Web3, was mentioned through several keywords. What does the NFT manufacturer think about this?
We are deeply concerned about this topic, and more generally, in all its diversity. A better world is also a more inclusive world which is something that, like environmental impact, underpins and supports all of our decision-making processes and all of our actions.
Exhibitions, conferences, project pitches… Was this event a taste of what you can find in the NFT factory when it opens?
Exactly, it was really a bit of fun. We wanted it as an introduction, with a requirement in terms of the quality of the speakers. We wanted to do something intellectually stimulating, with this warm side so close to our hearts. A dedicated location will be revealed very soon, right in the center of Paris. There will be an exhibition with works and a counter of information about NFTs.
We will also organize very regular meetings and trainings at different intervals: short courses for individuals and others which may be longer for companies. We will also have a support formula for NFT projects. There will always be something going on, at least a few times a week. The events will also be reserved for members: We have an NFT member from the NFT Factory, the member node. It would be a combination of all of that with this comprehensive, motivating, and insightful guideline.