Non-fungible tokens are digital collectibles. RollApp is trying to turn real-world assets such as cars into NFTs.The industry's strong showing at Davos comes despite a recent market crash. More than $500 billion has been wiped off the crypto market in the last month, as theThose who are at Davos likely committed to taking over a space on the Promenade in the Alpine ski resort before the recent market fall.
"It's been a crazy few weeks in crypto. We committed to coming here a long time ago but that wasn't going to change. We are in a position that we are going to withstand the bear market and there will be a bull run again," Clifford Sarkin, the COO at blockchain start-up Casper Labs, told CNBC.Circle, which is one of the companies behind the USDC stablecoin, took over one of the shops on the Davos Promenade.
Casper Labs has a blockchain product aimed at businesses. Blockchain came to prominence with bitcoin but its definition has expanded. It is effectively a shared ledger of activity that could underpin applications in business such as cross-border money transfers, proponents say. Sarkin said the crash had been positive for company's like his that are focused on selling blockchain to business customers, rather than consumers.
"It's easier to do business in a bear cycle. A lot of the people who came last year and were trying to make money in crypto that are now leaving because they're saying crypto is dead, are now out of the space for a while and we are going to get to do real business," he told CNBC.