Earlier this summer, CNN and The New York Times each warned that the nonfungible token (NFT) bubble, fueled by buzz over eye-popping valuations for digital art and interest from collectors, might already be bursting.
As the sixth employee at a social media startup called Wildfire — which was acquired by Google (NASDAQ:GOOGL) in 2012 — I’m all too familiar with skeptics and precautionary tales when it comes to new and emerging technologies. Based on my experiences across entertainment, licensing and blockchain technology, I contend that if the so-called NFT bubble is bursting, it could be a net positive for the future of the industry. The industry is so nascent, we’re the first batter of the first inning right now.
Ben Arnon is the co-founder and chief revenue officer at Curio, an NFT platform for the entertainment industry. Ben's career began in the entertainment business with lead roles at Jersey Films, Universal Pictures, Universal Music Group (AS:UMG), and Yahoo! (NASDAQ:AABA) Music. In 2010, he joined tech startup, Wildfire, and helped to scale the company to an acquisition by Google. Ben held a sales leadership role at Google for four years, before transitioning back into entertainment.