Ethereum 2 will lower fees, offer higher output, and boost the value of NFTs created on the blockchain. Kay describes how Ethereum's current "pipe" isn't big enough for the large number of people who want to use it and so you have to pay higher costs to go through." Ethereum 2.0 will expand that pipe, bringing down costs. Ethereum 2.0 is going to be slowly rolling out next year and it's going to make a massive difference." Ethereum is "burning energy, like driving a car with your foot floored on the gas with the brakes on," says Kay. A single transaction on the Ethereum blockchain uses as much power as the conventional household over a day and a half. The bored elephant in the room for NFTs is the huge carbon footprint generated to create one. Ethereum 2.0 will solve its energy problem If you create a Bored Ape and set it up for avatar casting, your art could be fronting a Coke ad next Christmas. Will we see the likes of Disney and large brands share their IP with NFT communities? Not likely, but this kind of approach to community-led marking and branding will find a place even in large corporations that will turn to NFT communities and groups to promote new products. "Take Bored Ape Yacht Club as an example," says Kay, "it was nothing before May and now it's one of the biggest brands in the world, almost, and it's partnered with Adidas and others." Loosening control of an IP enables growth and creativity, and artists get paid for their input and work at every stage. Using a blockchain and NFT offers primary and secondary resell rights, ensuring an artist is always paid for future use of their work. Giving IP control to a community to "take and spin into new directions that the parent brand would never have done in the past adds value", says Kay.
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