In an exclusive interview with Cryptonews.com, Anthony Georgiades, co-founder of the decentralized Layer 1 blockchain Pastel Network, delved into some of the hottest topics in the cryptocurrency space.
Georgiades shared his insights on how artificial intelligence (AI) and Web3 are converging, the future of non-fungible tokens (NFTs), and the current state of the volatile crypto market. Here’s a look at some of the key takeaways from the interview.
The Impact of AI on Web3 According to Anthony Georgiades
Georgiades spoke extensively about how AI and Web3 are starting to blend, describing Pastel’s role in pioneering this intersection “before it was cool.” He pointed out that AI provides valuable data-driven insights, automation, and intelligence, which significantly enhances various sectors of Web3, including DeFi and NFTs.
“AI really enhances Web3 by providing a lot of this deeper data analysis and automated decision-making,” Georgiades explained.
One of the most exciting developments he mentioned was AI-driven chatbots, which help improve user experiences, particularly for newcomers to decentralized apps (dApps). These chatbots make the often-daunting crypto onboarding process more accessible, eliminating the need for users to rely on third-party forums or potentially unreliable sources.
Another standout use case Georgiades highlighted is AI’s role in content moderation on decentralized platforms.
“AI can help maintain the censorship-resistant ethos of crypto while ensuring illicit content is filtered out.”
This balance between decentralization and moderation is crucial to ensuring blockchain networks remain open and secure.
The Rise and Future of NFTs
The conversation then shifted to the fate of NFTs, a topic Georgiades has witnessed firsthand through his work at Pastel. He acknowledged the decline in hype surrounding NFTs since their peak in 2021 but remains optimistic about their long-term potential.
“I don’t even think we’ve seen the true impact of NFTs yet,” he remarked, pointing out that while the speculative bubble has burst, NFTs as a technological standard are still seeing significant innovation and adoption.
He noted that NFTs have expanded far beyond profile pictures and digital art, now being used in sectors like real estate and tokenized training sets. According to Georgiades, the potential for NFTs lies in their ability to create digital scarcity and ensure authenticity, particularly in a future where AI-generated content becomes more prevalent.
“As people continue to use AI to forge and fake things, you will need that certificate of authenticity, and it’s pretty difficult to do without NFTs in the blockchain.”
Navigating the Current Crypto Market
The crypto markets are notoriously unpredictable, and Georgiades touched on the current volatility, referring to the situation as “absolutely crazy.”
He attributed much of the market’s unpredictability to a combination of monetary policy uncertainty and innovation in technologies like AI. Despite the turmoil, Georgiades stressed that startups in the space should stay focused on building for the long term. “It’s a very vulnerable time in crypto, but also a time of great opportunity,” he said.
Looking Ahead: Pastel’s Vision
Georgiades concluded by discussing Pastel’s vision for the future. He highlighted the company’s recent AI product, Inference, which integrates models from top AI providers to power decentralized applications with cutting-edge AI tools.
“What excites us most is the automation and decentralized cloud storage that Pastel provides,” he said, emphasizing the scalability and utility of their blockchain infrastructure.
As AI, Web3, and NFTs continue to evolve, Georgiades and the Pastel team remain at the forefront of these emerging technologies, working to create a more decentralized and interoperable digital future.
You can watch the full podcast episode here.
About Anthony Georgiades
Anthony Georgiades is co-founder of Pastel Network, a fully decentralized, developer-friendly Layer 1 blockchain serving as the preeminent protocol standard for NFTs and Web3 technology.
While performing his duties as President, Anthony is also a General Partner at Innovating Capital, a technology fund focused on disruptive companies and digital assets that have incubated Pastel Network since day one.
Anthony previously spent time on the investment team at First Round Capital and on the operations teams of various startups. He studied finance, management, and computer science at the University of Pennsylvania’s Wharton and engineering schools.
The post Anthony Georgiades on the Intersection of AI, Web3, and the Future of NFTs | Ep. 380 appeared first on Cryptonews.
