MIAMI (CBSMiami) – NFTs or non-fungible tokens have really exploded over the past few years, and it was evident on Friday as thousands turned out for the NFT conference in Wynwood, where Miami Mayor Francis Suarez said said the city was making a name for itself in the tech industry.
“We may have a bit of competition from places that think they can keep up with us,” Suarez said.
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A local venture capitalist, Brandon Buchanan, said he moved here from New York a few years ago specifically to restart a tech company.
“You have engineers, people who want to work in the tech industry where I think before Miami was mostly known as a tourist destination, now you can go out and hire people, a lot of people are starting businesses, it is a very attractive place. whether you’re in venture capital or technology,” said Brandon Buchanan, founder and managing partner of Meta4 Capital.
Craig Skilling, Director of Innovation Technology at Florida Memorial University, says digital art or NFTs have changed the way business is done.
“Tokens, NFTs are really part of our future, and it’s not going anywhere. And if you don’t consider a step involving cryptocurrency, you’ll be left behind,” said Craig Skilling, director of entertainment and esports programs at Florida Memorial University.
Buchanan says that one of the best-known NFTs, Bored Ape, is owned by his company Meta4.
This one was worth 3.4 million.
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He said part of the reason he came to Miami to start was because of Mayor Suarez’s stance on cryptocurrency.
“I think Mayor Suarez has been great at attracting talent, he’s been very progressive in terms of his stance on cryptocurrencies,” Buchanan said.
“It’s something that has to happen, it’s not going to go away,” Skilling said.
All in an effort to put Miami on the map when it comes to technology.
“These kinds of democratizing technologies like non-fungible tokens are going to change the world, they’re going to create access for everyone and as a country and as a city and as a world, we need to take advantage of that,” said Mayor Suarez.
The conference runs throughout the weekend, big names like Mark Cuban are expected to be there on Saturday.
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The NFT conference goes from 1st through the 3rd at the Mana Wynwood Convention Center.