I've been thinking about what encrypted NFTs could mean for Web3 if @zama and @FungoLabs execute their respective visions successfully. NFTs are central to more than just digital collectibles. They're connected to gaming, DeFi, identity, memberships, ticketing, governance and digital ownership. Yet, many of these applications operate in an environment where users have very little control over what information becomes public. Imagine what encryption could change. Gaming: Private character abilities, cards and strategies. DeFi: Confidential financial positions and tokenised collateral. Marketplaces: Verifying an asset's rarity or authenticity without exposing every underlying detail. Digital identity: Proving eligibility without publishing an entire identity record. Ticketing and memberships: Verifying access rights without exposing unnecessary holder information. DAOs: Private voting with verifiable outcomes. Real-world assets: Confidential ownership and financial information with onchain verification. These are potential applications, not features Fungo currently offers. @zama is building the FHE infrastructure that allows smart contracts to compute on encrypted information. @FungoLabs is exploring how that technology can translate into actual products, starting with encrypted NFTs on Ethereum. Genesis could be an important canon point in all of these. Its planned expansion into a launchpad and gaming ecosystem could provide further opportunities to demonstrate what encrypted digital assets can do. Of course, FHE isn't a magic solution to hacks, phishing or compromised wallets. But it introduces another layer of protection by reducing unnecessary information exposure. If this technology gains adoption, the impact could extend far beyond NFTs. Perhaps the opportunity isn't simply to build another NFT ecosystem. It is to make Web3 work better, with privacy and verifiability coexisting.