Announced last March, the NFT factory will open its doors next fall. In the meantime he organized his first event which provided an overview of this future space dedicated to digital objects. Meeting with its co-founder Lucie-Éléonore Riveron.
CEO of the auction house FauveParis, which she co-founded in 2014, Lucie-Éléonore Riveron is passionate about NFT. She is also the co-founder and spokesperson of the NFT Factory, which at the beginning of the school year will bring together a French ecosystem around these digital objects. The explorer was able to meet with her on the occasion of the first event of this future place dedicated to the environment.
Where did the idea for the NFT Factory come from?
Several countries are wondering what is happening in France, because there are already many projects, but above all leaders in NFTs, in different areas. We have for example Ledger in cryptocurrency security, The Sandbox in the metaverse or Sorare in entertainment, just to name a few. We also have many great artists such as Pascal Boyart, Agoria, Obvious, truly recognized artists on the international scene and great collectors such as Benoît Couty, the founder of the MoCA (Museum of Crypto Art).
In fact, we have all these actors and all these actresses who are already at the top of their world level and there is real excitement around NFTs in France. You hear it from abroad. The idea was to bring all these people together to make them meet and transform this effervescence into something truly built, which will be able to consolidate the French ecosystem of NFTs to make France one of the world leaders on domination.
Why did you dedicate this event to the environment?
We have dedicated it to the environment because it is essential. This is still the main problem globally today. It is okay to say that blockchain, Web3 and NFT are the new revolution, which will change our lives, but there is no point in making the revolution if we are not interested in the positive impact it can make to save the planet. At the heart of Web3 is the idea of a better world, and this also means a liveable world. We all know there is a lot of criticism against NFTs. The first thing I am told when I talk about it is that NFTs pollute.
The idea with this event was to do a first inventory and maybe do it annually, to show that from the very beginning – as we are still in the early days of NFTs – this crypto community, NFT, is not cut off from the world, disconnected from reality. . On the contrary, we face social issues head-on and if there really is a social issue, it is that of environmental impact.
This event was also an opportunity to demystify the negative side of NFTs for the environment …
Exactly. It cannot be said that NFTs do not pollute, but blockchains would continue to work even if there were no NFTs. It is not the fact of creating them on the blockchain that pollutes 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 NFTs – are based on a consensus protocol called proof of work (proof of work) that makes thousands and thousands of computers work to solve the same algorithm and whoever succeeds will have the right to validate the block and then insert the transaction into the blockchain. It is an old protocol that has already been replaced by new protocols such as the proof of participation (proof of stake) which consumes 99.5 times less energy and, therefore, greenhouse gas emissions. Ethereum is also about to come out proof of work to proof of participation.
Having said that it pollutes a bit, it is important to recontextualize, to say that digital – as a whole – represents 4% of greenhouse gas emissions. In other words, 96% of emissions come from other sectors, such as aeronautics or space, which consume even more energy. For example, 40% of private jets run empty, and one year of private jets represents 167 years of greenhouse gas emissions for the average Frenchman. Finally, 4% of digital emissions are perhaps the most virtuous, because they can reduce 96% of the emissions of others. We are not clearing customs, saying that we do not pollute, but we must take a little distance, recontextualize.
Can you come back to the need to find another term for Web3 that you mentioned at a conference?
I don’t necessarily commit the NFT Factory on this topic, these are really thoughts I have myself, but I’m not the only one. What is still called Web3 today is not a continuation of Web2. The philosophy is to correct a bit of everything that we don’t like on the current web, namely the fact of consuming content without asking the question of creators and creators, of no longer being the owners of its data and of being constantly monitored.
The idea is to preserve your data, as everything is encrypted. Everything is transparent, but we don’t reveal our identity. We keep our personal data, which allows us to interact with a digital universe, but also to become owners of digital assets. And when that happens, we become supporters of the project, supporters of the creators instead of being consumers. This really changes the very concept of interaction with digital technology. At the basis of all this there is also the idea of a decentralized world, and therefore of individual responsibility. We are in a form of rebirth, because we no longer depend on Gafam and we are very responsible for what we are going to consume, in any case, for what we are going to support.
The downside when you get very responsible is that there is no “forgot password” button, for example. That is to say, you are responsible for what you buy, what is in your wallet. If you lose it, there is no central institution or customer service that can help you get it back. It really is a very different conception of accessing and interacting with digital. That’s why I think we should really think about finding other terms.
The lack of women on the Web, and more specifically on the Web3, has been mentioned in several keynotes. What does the NFT Factory think?
We are extremely interested in this topic and, more generally, in all forms of diversity. A better world is also a more inclusive world and it is something that, like the environmental impact, underlies and will support all our decision-making processes and all our actions.
Exhibitions, conferences, project presentations … Was this event a taste of what you will be able to find at the NFT Factory when it opens?
That’s right, it was a really small appetizer. We wanted it as a taste, with a need for speaker quality. We wanted to do something intellectually stimulating, with this warm side that really matters to us. A dedicated location will soon be unveiled, right in the center of Paris. There will be a gallery with the works and a counter for information on NFTs.
We will also organize very regular meetings and training sessions of varying lengths: short training 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 to do, at least several times a week. The events will also be reserved for members: we have an NFT member of the NFT Factory, the Member Node. It will be a mix of all of this with this inclusive, inspiring and visionary guideline.