Nayana Singh, General Product Manager at ConsenSys, knows that the number of NFT skeptics has increased, though she encourages skeptics to “separate the hype from the technology.”

“There are two things going on: One is the negativity surrounding so many crashes and what we tend to do is tar everything with the same brush,” Singh, who first entered the industry as an early product manager at Microsoft Blockchain focused. services, he told TheWrap for this week Office with a View. “The price of the underlying crypto might have fallen, but that doesn’t mean the business use cases, the NFTs they support, the collectibles themselves are now any different or less in any way.”

Despite the recent declines in cryptocurrency stocks, Singh reminds cynics that “the concept of NFTs hasn’t changed… The concept of owning something digitally, and being associated with you and only you, hasn’t changed.” “.

In fact, recent crashes can be attributed to technology not being used as intended, according to Singh, especially when individuals and groups create “trusted intermediaries” and falsely advertise in the NFT space, a concept that is incompatible. with NFT, as the technology is based on a decentralized network.

“There were a lot of investments by people in centralized exchanges, unfortunately, which led to a lot of negativity, because they weren’t using the technology the way it was supposed to be used,” Singh said. “You don’t have to trust anyone, there should be no trusted intermediary. Everything that gets blocked is blocked because of a centralized media entity, but unfortunately, they position themselves as Web3 or NFT.”

As mainstream communities begin to unravel the hype and controversy around NFTs and focus on their use cases, Singh predicts that the entertainment industry can lead the way for NFTs.

“The entertainment space is the most visible space there is, so any innovation that happens in the entertainment space has an immediate global presence,” Singh said. “What people don’t realize is that it’s actually setting the stage for a lot of other industries…the entertainment industry, in a lot of ways, is really the role model for the disruption that’s happening with NFTs and the web3 space”.

As Hollywood plunges into NFTs, Singh says the entertainment industry is “simplifying and humanizing” the technology, bringing it one step closer to mainstream media by making it accessible to everyday users and encouraging other consumer industries to follow. this path.

While the entertainment industry is just one way to make NFTs more accessible, Singh emphasized how NFTs could be further used for innovation in industries like gaming, retail, and supply chain, to name a few.

“Whether you are a creator, a collector, a developer or an investor, there is a base for everyone in the world of NFT no matter where you are,” said Singh. “There’s so much innovation going on, and if there’s not enough innovation, it’s your chance to innovate in this particular space as well.”

What is the way forward for those who doubt NFTs?
Make sure you are educating yourself the right way. When you read articles that are promoted one way or another, you never get the right news. It is the same as a political affiliation. If you keep reading party-based stuff, you’ll never look the other way. Likewise, if you’re reading about the hype of what’s happened in the industry, read the tech side as well.

What is something you have learned from the industry that you would like to pass on as knowledge to people who are struggling in their career?
I’m a woman in the tech space, so things have never been very easy. Never give up. I don’t understand the word “no”. When people hear the word “no”, they really should think of “no” as a very temporary object, and then you have to figure out how to navigate around this. Whether you are struggling in your current job, in your career, [or] in your personal life, everything is transitory. Every negative thing that happens and every obstacle is very transitory, and you have to find a way around it.

What do you think is the key to success in your career?
Having a strong network and strong support system is really important. We are human beings: we have good days, we have bad days, we have strengths, and then we have areas of growth. [Having] someone who is there in our corner, and with whom we can have a very open discussion and who will help us navigate, or see things one way than seeing things one way… it gives you a very different perspective… of how you would go back to your job the next day and navigate things.

This interview has been edited for length and clarity.