Is it all “JPEG Mania” or do they serve a bigger purpose?
In today’s episode, we will speak to my friend Hrish, Co-founder and CEO of SuperWorld.
With the recent popularity of Non-Fungible Tokens (NFT), I was looking for someone very knowledgeable to guide us through this new “phenomenon”.
I was very fortunate to be put in contact with Hrish* as he will explain what NFTs are, what the potential use cases are, and how for example NFTs play a role in SuperWorld. SuperWorld is a virtual real estate platform where you can buy any piece of land with the help of NFTs. (Spoiler alert: It can get tricky at first to grasp 😅!)
*Thanks, Brian!
Listen here:
…or listen on Apple Podcasts
This episode is for you if like me you want to know more about NFTs: Is it all just hype? A fad? Or the next big thing? Let’s find out!
Key Takeaways:
- NFT:
- A digital asset that represents any real-world type of content (art, music, etc) that is immutable, transferable, authentic, trustless, and is generally encoded with the same underlying software as cryptocurrencies. They can be sold and resold online.
- They make it possible to productize anything you are creating, and it is benefiting from the blockchain technology (transparency in the economics) to get paid in the future.
- NFTs are not fungible: Each NFT or asset will be sold at a different price, the value is not the same when sold.
- Crazy high values:
- The values we see in the market come from what someone is willing to pay for that asset and what the creator price that asset at.
- Why buy NFTs?
- Files can be copied but NFTs can bring authenticity to the digital world.
- What makes my file different than a copy? I am the holder of the NFT for that file, I am the owner of the authentic file or the IP that this file represents.
- NFTs are there to help authenticate ownership.
- Who can create NFTs?
- Anyone can create NFTs, even 18 months old toddlers can 😲!
- If you are a creator and become famous, you can still make money from the art that you sold 10 years ago if it gets resold!
- Where is the NFT industry going?
- It enables anyone to create a building block of the future web. NFTs are a kind of foundational building block of what we are considering the future immersive computing world or the metaverse.
- The technology itself will allow you as a creator or influencer to be able to productize whatever you are working on into an NFT. You will be able to create, discover and monetize anything anywhere.
Who is Hrish?
Hrish is a Co-founder and CEO at SuperWorld. Previously, he co-founded Rogue Initiative Studios, a Hollywood film, TV, gaming, and immersive entertainment studio. He was also the founding Managing Partner of Eastlabs, an early-stage VC fund based in Kyiv, Ukraine. Previously, Hrish was a Senior Business Developer and Global Evangelist at Toptal (backed by Andreessen Horowitz, the Rockefellers & the co-founders of Facebook and Zynga), a venture capital investor at Spencer Trask Ventures, and an investment banker at both UBS Investment Bank and HSBCSecurities, where he specialized in public finance, corporate finance, and M&A. He also was an Associate in the Global Business Development Group at management consulting firm Hewitt Associates.
Hrish was born in India and grew up in the United States. He also has spent many years living around the world in Europe, Asia, and South America. He has a close connection to the people and cultures in Ukraine, Belarus, Russia, Spain, France, Vietnam, China, Colombia, Bali, and Thailand.
Hrish holds a BA in Political Science from Rice University and both an MBA and MPH from the University of Illinois at Chicago. In his free time, he enjoys working out, fashion photography, and traveling the world.
RESOURCES
- Website: SuperWorld
- Instagram: @superworldapp
- Twitter: @superworldapp
- Facebook: @superworldapp
- LinkedIn: Hrish Lotlikar
- E-mail: ceo@superworldapp.com
- Book recommendation:
- Best purchase under 100 dollars: An Audible subscription. (Read my review here)
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