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Alright, looks like the music cut out. That piece might check real quick.
Yeah, hello, I think I can hear you. Okay, right on is my is my sound coming in clear? Yeah, all good, all good. Awesome. Let's get it started then. Good afternoon, Whalecoin talk community. My name is Noah. I'm here today.
with Baptiste representing Binance NFT in Baptiste before we get started talking about all the good things you guys are doing. Would you give us a quick background of yourself, your career trajectory, and then how you found yourself working in the crypto industry today?
Sure, yeah, so and thank you for for the quick intro and and nice to to be here on behalf of Binance We we thank you for inviting us before before we get started. That's really nice We don't do these offerings so it's good to get on others other people's platforms I guess and a little bit more by myself. So first of all
If I somehow mute myself real quick, I'm pretty sick today. So I've got some dangerous cuff that I don't want to give you on audio. So I might just quickly mute myself. But yeah, I'm the NFT growth manager at Binance. So I look after everything around marketing on our social platforms for the Binance
that would be around the marketplace. So that could be the launch pad where we help other projects launch on the BNB chains and could be the partnerships. So things like the Cristiano Ronaldo launch that happened recently. But also
other things like getting the customer feedback and leasing with the tech team to see how we can improve our marketplace as fast as possible by engaging with our community etc. So it's very much a social focus role where I helped
experience, let's say, in the NFT space. I was working at an aggregator marketplace before joining Binance. So that's where I got, I guess, most of my marketplace experience. And I was ahead of growth at that marketplace before. And prior to Web 3, I guess you can say,
I've been in crypto myself for a few years just buying and selling, nothing too crazy. And I have an extensive past in marketing, so I worked at some pretty big media agencies and I looked after clients like Shell, Ferrari or Boohoo's, sorry.
the clothing brands, looking after their growth as a brand, etc. So I guess my experience of working at an aggregate market place in the past in loop three and having a more traditional web to marketing background was kind of a good fit and good opportunity for buying inside of
I think that's the long story short. Yeah, and quite the extensive background. You are also broadcasting for BinocNFT a lot, right? Jumping on spaces. Have you found that any of your skills, the wide array of skills that you have translate well into your time as a broadcaster?
That's a great question. I'm a DJN, first in the NFT space. I guess you can say. I've been trading for a year and a half just in the NFT space quite intensely over the last year especially. I love growing
I love growth in general for whether it's for my own personal profile or for the job I have to do at Bynons. And I recognize that jumping on spaces is the quickest way to create an audience that will come repeatedly. We have to weaken as obviously you drop some good content.
And I think it's an easier way for a bigger account, you know, a bigger Twitter account like Binance, where really stickly we can't be shit posters, you know, it's difficult for an account like Binance to start dropping memes and stuff like that, you know, because going on the funny ride to route to great engagement can quickly
backfire. You can make a meme that you think is funny but then there is a larger macroeconomic context that makes it that it's actually maybe a bit wrongly timed etc. So I think for us, the best way to grow and create good engagement on our account is through to its spaces and we can be a place where people
know that every time we host these weekly spaces we have value, we interview founders, etc. And people will be coming back week after week should get good value because it's going to be interesting talks. So that's kind of the strategy behind it. And for me how I got my privacy
skills translating to that. Maybe not so much from my web 2 background, I guess, but on a personal level, I've done a lot of public speaking and I'm quite I guess comfortable, but also eager to engage in conversation with other people and doing it in the form of an interview and on top of it having a platform like
was just I guess a golden opportunity as well. Yes, certainly and with a great power comes great responsibility. Even as well coin talk is started to blow up more a lot of us need to be careful with kind of the even if we're you know we have good intentions kind of the stuff that we post and the different activities that we engage ourselves and so I
I can certainly relate to you on that note. And I can certainly relate to you in the public speaking as well. I did quite a bit of that myself and it seems like it's translated well into broadcasting. But best to excuse me, I want to get to know more about you. But before I do that, let's jump into the ecosystem. Let's talk about Binance NFT and how long has it been around for?
So, Binance NFT launched in the middle of not last year and anymore, we're in 2023, so in June 2021, so it's been about a year and a half now, and it's evolved a ton since its launch, I guess, of course, like any marketplace.
and we've launched hundreds of projects on Binance NFT on the launch pad. And we're now becoming an aggregator where we are supporting OpenC listings. And there is obviously more marketplaces and more blockchains that will be coming in the future.
And so when you say you guys are supporting OpenSea listings, I mean that anything that we find on OpenSea is going to also be found on the Binance NFT marketplace. I'd be curious to note that and also what kind of distinguishes your marketplace from other NFT marketplaces. Yeah, that's a that's a good question. So we are
When I say we are listing OpenC, there is a little aspect there I guess where we are manually aggregating collections right now. So we are doing the top 100 collections of every day. So obviously a lot of collections are repeat like the board at ESCLAB is quite likely to be in the top 100 every day, right? But some will come in and come out
of the top 100 and that's how we increase the number of collections that are listed on the marketplace. And we also go through a bit of a lot of manual filtering, I guess, because it's probably the primary concern we have is to make sure we have collections that are of value for the customer. And so there is a lot of
filtering, I guess, where sometimes we list collection that are not necessarily in the top 100, but could have been an OG collection, for example, that is not necessarily something that drives a crazy volume on a specific day, but deserves to be listed, for example. And also, on the other hand, some things that we think are just a pure derivative of Borde for the
We may just remove it if we see that, you know, it's just not bringing any value to the marketplace. Got it. I'm sure we've seen quite a few derivatives of that so far. What are some advantages of using, in your opinion, the NFT, the Binance NFT marketplace?
over others. Yeah, so there is quite a, there is, I mean, there is advantages and I guess disadvantages depending on how you look at it for everything, right, in life. But I think the main thing about using Binance is that it's a centralized marketplace. So we have other marketplaces like OpenC or Luxware.
which are decentralized. So you would usually log in with Metamask wallet, for example, whereas Binance NFT, you are logged in through your Binance account, which means you have passed the KYC to be able to trade. And that's one thing that is very different from other marketplaces. Every asset that will be listed on Binance
and Ft Marketplace through a Binance listing, not necessarily an Open Seleasing, which is just aggregated, but any Binance listing is going to be with the user that has KYC. So that just gives you an added layer of security, and it's also impossible to get drained like a Metamask Fishing Act, for example, if you have a Binance account.
because you don't have a hot wallet where your NFTs could be stolen through a phishing attack. So I would say these would be the two major differences of using Binance NFT as opposed to another marketplace. That would be most likely decentralized. Certainly pros and cons there and can you talk about any of the
features or tools that the marketplace provides, RenewD collectors to curate and manage their collections. Yes, for sure. So, you know, the marketplace right now is a place that's evolving constantly for us. So the recent additions that we've put up, for example, would be an LED, sorry, one second.
that cafe I was telling you about. So yeah, the analytic dashboard, for example, is something that we've launched recently. So we had a full revamp of our collection page where you have the activity which would be showing you the live listing
or live sales and you have also analytics on the floor price, the floor depth etc. So some of the metrics that you tend to find more on analytic tools usually we try to bring that to the marketplace for
to make it a user friendly experience, but also to allow advanced traders to get the data and information that they would need all in one place, I guess. And how does Binance NFT
I mean, how do you guys ensure the discoverability of smaller projects and promote their visibility out at first glance? I noticed a lot of the projects that I'm familiar with, but I wanted to know if you guys have some sort of an algorithm that helps assist smaller projects in getting exposure.
Yeah, so that's a good question. I think, you know, to just bounce back on the word you said our algorithm specifically here. We don't have yet a discover page, for example. Like if you are on OpenC, you have a front discover page which shows you we have
We have a page based on training projects, just like OpenC would have or Luxray would have, for example, which shows you what has been selling either in terms of volume or in terms of number of sales, which is kind of the two metrics that most people care about. When it comes to promoting smaller projects,
That's always the difficult question, I guess, with a marketplace, right? Because it's either you're going to choose to remain neutral and then you are really showcasing what the data is suggesting, what is driving volume or what is driving sales, and in that case,
That's a pretty easy thing to do and every single marketplace, if you will have something along those lines, I will show you volume of the past 24 hours or three days, seven days, whatever time frame you're really looking for. And on the other hand, you are thinking, okay, do we have like a discovered section where we are trying
trying to push specific projects based on either it's a small thing but it's a small thing in terms of collection size or overall trading volume but it's a quality artist for example that is relatively known on in the space etc. So we don't have a discover page like
that where we're pushing specific projects but it's something we're looking to do and I think it's a really interesting one because then it just allows you to kind of hand select a little bit more specific things that you care about. I mean when I say you as a business right as a marketplace but yeah I hope then
answers then the question. Yeah, no, most definitely answers the question. And I suppose the follow up or not a follow follow follow question would be how you guys handle dispute resolution in case of any issues with transactions or any bugs or you know any any kind of malicious activity.
Yeah, so that's actually a really interesting question because Binance puts customers interest at first, right? And there is obviously the first thing first is we have a pretty substantial customer service team. So whether it's for Binance NFT or Binance futures or FIA
or trading whichever side of the platform you're using, you can always reach out to the customer service, it's going to be a chat box button usually on the bottom right I think of the screen. And the that team is working around the clock on every single time zone to answer all the questions whether it could be a problem like you can't
you can retrieve your NFT or transfer it or you don't see your NFT etc. So all the kind of problems can be handled by our customer service and we have actually launched an AI FAQ style recently I think a few months ago maybe three or four months ago which basically
Basically allows users to find questions that would be asked quite often. And we've actually seen a decrease of, I think it's around 30% or 40% of people that start asking these questions, get answered, the question answered. So overall we have far fewer actual people asking for a human
help because of that. But the way it works is, yeah, there is a bunch of humans who are working behind computers and answering all these questions every day. And there is a lot of connection with the tech team and I can actually see it because I'm obviously working on the social side so I handle a lot of the requests that would be
coming from DMs, for example, on Twitter. So recently we had the APE Staking program, so where you could stake your BAYC or MAYC, and you can earn APE points in rewards on a daily basis. And if we had some specific questions that would come through DM on Twitter, then I can relay that to that
customer service team where we have an internal chat and all those tickets can be discussed and then there is different people from different teams that will jump on based on the actual request for example. So it's quite a lot of different teams working together and kind of join forces when there is a need for specifics.
their skill to answer the question and then we'll relate that back to their customer or their user. Yeah, a lot of moving parts that come together in unison to solve the task at hand. My next question pertains to how the Binance and FD marketplace plans to address scalability issues
as the marketplace grows. I know that usually centralized entities have an instant time with this, but would love to hear from your side what goes into the nuts and bolts that make the whole machine run and how you guys plan on expanding once more and more users start to onboard. Yeah, that's a really interesting question.
So it's probably a question that is not necessarily just a Binance related, I guess, but also more of a macro question for the NFT space and the crypto space to an extent, right? And I think that starts with adoptions at the adoption at the top level. So recently we've seen quite a few webtoons
major companies entering the NFT space, just recently Porsche had a launch with St. Staubex, a partner with Polygon. If you're in the space, you see it every week, there is a bunch of new major companies dipping their toes into the NFT world.
And I think that's what really matters for that next chapter in the NFT space and that scalability. But what we are focusing on and what we have control over, I guess, as a marketplace, right, is to make the best platform possible, you know, from a technical perspective. So making sure one, the platform
is reliable and the platform has good projects on it and the platform is easy to use so that would be one from the technical side but also when we have control over it's trying to bring the best partnerships possible on the Binance marketplace so you know to to bring more new users so for example we have the Christian
Ronaldo is one of the most famous athletes and person in general on the planet. So having his collection launching on the Binance is obviously going to bring out so many new users who wouldn't necessarily know or even care about NFTs in their first place, but because they love cursing Ronaldo, then they will make the effort to get that learning process.
and potentially buy the NFT. And our job is to make that as easy as possible of a transaction for that user. So whether it's enabling current payment, for example, to make sure we remove the barrier of entry to buying an NFT
from potentially having to make a deposit first of a Thiatt and then transferring it to whatever currency, what needs the cryptocurrency, what needs to be for that collection, which now a case would be the NB for example. And also just making clear pages, clear blogs, clear explanations.
and pushing a strong marketing. So I think that's kind of what we have to control over and what we try to really push hard from our hands. So I wanted to skip ahead just for a second since you did mention the partnership or the NFT collection with Ronaldo.
Are there any other notable celebrities, athletes that are following the same trend and working with you guys along through our collections? Yes, so I think we're going to see a lot of athletes and not just athletes, but I guess celebrities to use the word "longe
and NFT collections or creating a new way to interact with their community and a new way to give to their community. So we had Christian Oranaldo recently, we also had Mike Tyson recently, we launched a mystery box, we had Manipakao,
So for example, I don't know if you've heard of Triller, the fighting promotion company I guess. They are launching different collections with different boxes, for example, and that is launching on the Binance NFT marketplace as well. So there was Manipet Yao, there I think there is RAND,
Russia as well, etc. So yeah, there is a lot of those famous athletes, I guess, which is what has been working the most and has been the most interesting. But I think over time we will see potentially famous artists as musicians, drop NFT collection.
or mystery boxes as well because I think it's one of the best ways to interact with their community. Imagine if you are releasing a new track and you drop a portion of the revenue to your audience or people who buy this NFT track and have a chance to get a meetup with your artist, etc. It opens so many possibilities, right?
So many possibilities and doors open. I completely agree. This is a great way to generate exposure for the ecosystem, not just the artists, but the finance and NFT brand as well. I wanted to go back to one of the things that might lead to scalability issues or hyperventilating.
growth. A lot of other blockchain networks outside of Ethereum have NFT communities that are blowing up to name a few Salana, Polygon, Avalanche. What are some plans for supporting other blockchain networks? Is that something you guys have in the works? Yes, of course. Our goal is to be
inclusive as a marketplace and as I mentioned earlier we are now an aggregator and that's going to be the main focus for for Binance to be able to aggregate as many marketplaces and as many blockchains as possible because not everything happens on B and B nor does it happens on Ethereum and as you mentioned so now
I know that one of the more known blockchains and there are so many great projects on there as well. So I don't know exactly the timeframe of more integrations in terms of marketplaces and blockchains but it's definitely on the map for 2023 because yeah, I think
You know, one thing as well that we're working and it's not necessarily about integration, but I kind of want to branch out on this is called payment Processing and I think that's to me these two things, you know allowing a marketplace to aggregate as many other marketplace
This is end blockchain as possible is one thing, but also making it easier for people to get onboarded and pay by a card is one of the big goals of ad buy-in-its. And if you look at what's the name reddit for example, they have onboarded 6 million wallets.
And most of those people didn't know they were basically getting NFTs. And I think that was a very, very smart way to unbore people by making it not about NFTs, but making it about the story behind the avatar and all that stuff. And I think that's what Ridee is going to help the scalability.
Yeah, no, I couldn't agree more in language is important to I think they didn't call them NFTs but digital collectibles instead I think the reddit community had some issues with NFTs Yeah, so Let's see Can you tell us I know that you need to add
KYC if I'm not mistaken in order to participate in Binance NFT and even the greater Binance ecosystem. Can you tell us if this is also available to Binance US users? Yeah, so at the moment Binance.com and Binance US are two different entities and there is no marketplace on the Binance
So that is just trading legislations and not the most quantified to tell you exactly all the legislation side behind it, but I know the market place is not available yet on the US website, but it's coming at some point soon and they are working on it right now.
So it's coming soon. OK, and let's go into how one would launch or create or list the project on Binance NFT. Yes, so that's a good question. So as I mentioned several times, I think you're ready, making the user experience easier
as easy as possible is one of our priorities. So once you log in and you have your account on Binance, you can go to the NFT section of the website, so the marketplace. And then you can just click on Create, which is a button usually on the top right if you're using desktop or just on the top of your screen if you're on mobile.
you can there create a single or an NFT or even a collection. So that would be to create, I guess, you could call it one-to-one collection, for example. So if you're looking to create a 10,000 NFT drop for full collection, then you need to get in touch with Binance to launch your project just like you just
to like you with on OpenC but if you're creating a collection let's say your photographer and you have 20 different photos that you want to create as NFTs for your collection then you can just do that from your from your homepage right away and it's super simple very intuitive it takes a few clicks and that's it you know
Yeah, it seems intuitive and just looking at it first glance. I think that is another necessary component that a lot of NFT marketplaces need for mass adoption. People need to be able to do it in a seamless way without having to run around a bunch of hoops and hurdles in order to get there. You mentioned
And you mentioned Baptiste the mystery box earlier with respect to the many Panacheal or Mike Tyson Collective. Can you tell us how mystery boxes work and diamond in that whole world? Yes, for sure. So mystery boxes are effectively NFT connections.
Just like any collection the size of the collection or the price can be right But they are often basically linked with existing projects for example, so Recently we had the fusionist that law no not the fusionist we have gash and the launch day mystery box
or even Mike Tyson for example, and they already had an existing project and the mystery boxes can be extensions of a collection or could be a collection on its own, but it's usually going to be having some sort of utility that is in different tier of rarity, so for
For example, let's take the mic ties and the mic ties and the one as I mentioned it earlier, I think it's a really easy example to understand. So the mic ties and mystery box had 10,000 supply and there was 40 different tier of variety and depending
Depending on the T-Rap of variety, you could get a digital collectible, you could get a physical collectible which could be a sign glove from Mike Tyson and I think the rarest card without RU2 have, I think it was a 30 minute call with Mike himself, then a signed photograph.
I think there was like a possible meetup with my ties and as well. So there would be different type of rewards and each connection can have what they see fits obviously. It's depending on the project. But one thing that is also pretty good for the mystery box is that it's a really easy onboarding process so you can pay by card or by
buy BUSD, if you hope BUSD in your account or you can pay in B and B as well. So effectively you can pay either in stablecoin, in card or in B and B and that's just an easy onboarding process and that's what we're really trying to push with a mystery box to make it just accessible to anyone.
And it's usually going to be in the pretty low price range. So it's very affordable. We have some MrBoxes that are starting at $5, $10, $20. So it's usually a pretty affordable, easy way to get into NFTs. Affordable, easy and fun. They seem like
a lot of fun and I think that's another important mechanism or rather a important feature that a lot of people forget when it comes to onboarding new users. Let's see, let's go with the, okay, I had a question about NFT staking. Do you guys offer that? Yes, I do.
Yes, so we have staking. I think we may have just lost Noah. Are you still here? Yeah, no, sorry. I mean, I'm here. I might have just cut it in and out, but I basically was saying, do you guys have any staking and how does it work? Yeah, so we have what we call a subscription mechanism, which is effectively staking and projects can use it.
to do what they want. So as any project would want to do staking for XYZ, it could depend on what they want specifically, but effectively we call it subscription mechanism. It's slightly different because obviously you are putting it into centralized exchange, which is Binance. And
for example, where we had recently using the mechanism was the APE staking program. So I think I just mentioned it earlier, you could stake your board ape or your mutant ape and earn daily rewards in ape coins. So that is using the subscription mechanism, for example. So it's not something we have all the time for every single
project because not everything needs to have a subscription mechanism, but it's there for the right projects. How does the subscription mechanism work to ensure fair participation in NFT drops? You're asking the technical questions here.
I'll do my best to answer that one. But it's basically based on a fair and square algorithm that picks the winners and like every account is going to be KYC as you need to be participating to any trading or any substration mechanism program. And it's actually a lot easier to avoid botting because every single account has
to go okay, why see? So I like something like Primint for example where anyone can register and I've done it myself I had three four or five different wallets trying to register for a Primint or a whitelist spot etc. You just cannot really get any button with this method and then when it comes to
to actually verifying each, I guess, account when they participate into the subscription mechanism. So there would be a B&B minimum requirement, which is something you also see on something like Primind, for example, where you can have a minimum ETH or minimum Serrana.
And then we pick the winners through an algorithm mechanism. So that is something technical. Don't ask me too much exactly how the algorithm works, but you can actually check it on our website if you want. And the algorithm will pick the winners and then there is after that a distribution phase where all the rewards would be awarded to those winners.
Let's dive into my favorite genre. You guys have a finance gaming and a t-section. Can you tell us what that is, how that ecosystem works, and also what makes your IGOs, after you explain what IGOs are, what makes them so special? Yeah, so that's a good question.
Everybody is loving the gaming side of NFT. There is a big potential here for 2023 in the year. But Igeos, it stands for initial game offering. So that's when NFT assets from top tier gaming projects are exclusively available on Binance.
assets can launch either via an auction, a fixed price or a mystery box. And so what's pretty interesting about the idea is that it's going to be focused all around gaming and all the drops will be in-game assets. So let's say you have, you are participating into a game, any
future asset that would come from the collection that you would hold from the IGO would become in-game assets. So that could be things like weapons, clothings, for example, like a new hoodie, a new pair of sneakers. It could be anything the creator really wants, right? So I think the answer is what is the IGO and why is it special? Well, we are
Actually one of the biggest IGO in we are the biggest IGO in the world right now and we are the biggest launchpad for gaming assets. So we also have the Biden Slabs which sometimes will fund and launch and help launch some of the IGOs on our platform. So we recently had the Fusionist that
launched and that was I think it was a 6.1 million funding from Binance on the Fusionist launch. So we have the project from the technical perspective, from the marketing side as well and we help them develop into the product that they want to be. So we obviously have Binance as a Binance Lab and
helping with that, which is obviously going to be a pretty substantial help for any project receiving a grant, I guess. And it's also quite a big screening process for us. So we want to make sure the quality of the projects we have listed on there and that we are pushing is going to be the highest quality. So you will see some of the biggest IP
working with us, or it could be things like the sandbox and alpaca for example, is working with binds recently. We have celebrities that could be working on iGiOS as well and I think eSport in general is so competitive. We had the Chibi Dinos, I don't know if you've heard of this project, they also
So we're on the IGO recently, which is really cool because Web 3 Gaming is just waiting to boom in 2023. Yeah, I couldn't agree more. And it's the sector of the industry I'm most excited about and I'm watching most closely. And I think it's the sector of an industry that
We'll see a big boom and, but, rather, we'll see a couple from Bitcoin in the rest of the industry sooner than later. I wanted to really quickly ask about the activity section. We don't need to spend too much time on it, but I couldn't quite make sense of it at first glance. Do you mind explaining how that works?
Yes, so the activity section, so just to kind of reframe 41 wondering that would be when you are on the NFT website on the NFT binders marketplace and you go to stats and then you have either rankings or activities and activities is effectively everything that's happening on the marketplace in terms of list
things or sales across every single collection. So if you remember OpenSea, you used to have that which was called the feed. I don't know if it's still available, but it basically shows you everything that happens on the marketplace in terms of listing and sales. So that can be quite useful for actually finding out some things that are starting to sell for example.
I've used this quite myself quite a bit on different marketplaces to actually spot new trends. You can check whatever is selling right now and that will just give you an idea of if you start to see several times the same kind of collection coming up and up and up or over.
you can kind of discover it trying early, I guess. But what are some measures that Binance NFT marketplace takes in order to protect the rights of NFT creators and prevent things like copyright infringement? Sorry, do you mind saying that again?
Yeah, sorry about that. So I was curious to know what measures you guys take to protect the rights of NFT creators and prevent things like copyright infringement. Yeah, that's a good question. And as a central lens marketplace, you know, we definitely have a strong duty to make sure we
are protecting our users because obviously users will come to Binance. I guess have to make a bit more of an effort due to having to KYC and all that kind of things. So we have a strong duty to protect our users. So when it comes to creators and so sorry
But what we are doing effectively is working with the customer service team that I mentioned earlier and the tech team as well. So we have different objectives. The first one would be, are we seeing fake collections? So we will see sometimes a duplicate collection, a duplicate collection of the board at EacheCloud, for example.
And it's going to be called the same name, but just with one letter, a difference, obviously, to try to make it look as legit as possible. Right. So that's it. That is obviously something we want to be removing as soon as possible. And because we're a centralized marketplace effectively, well, we have the right to
room of collections that do not match the criteria. And that is obviously including being a copycat of another collection that is not allowed. So that would be one way. We also have a pretty extensive, I guess, arm in the community where
where we have several channels where some users can give us some feedback and we can try to look into it. So whether it would be telling us, hey, this is a fake collection, for example, just going back to this. We have a very fast response time between those channels where we communicate with some of our core users.
And we also have something else recently that we launched which is called the NFO program. So that stands for NFT feedback officers and we've effectively recruited how can I explain we effectively recruited a bunch of NFT traders I guess we are helping us on an
the databases to find out all the bugs, all these fake collections, all the things that are infringing policy, etc. So I think that's kind of how we go about tackling all these kind of issues. There is no two ways about it than hard work and putting your eyes and your hands into
into it to see what happens, you know, because it's very hard to have, you know, you can only rely on algorithms so much to kind of figure these things out, you know. People are smart and they will always try to, I guess, make fake collections and try to scam users, you know. So we just have a big team dedicated to tackling these issues in general.
And following that up, Baptiste, what are some of the biggest challenges you believe you guys faced over the next year to two years, mid and long term? Yeah, so I think we are facing the same challenges as everybody else, you know, which are really
Obviously right now would be the market. The market drives a lot of uncertainty. We have seen a lot of fear around NFTs in general and crypto as a bigger picture with other exchanges going down, etc. So obviously that puts a lot of pressure on us. Sorry. That puts a lot of pressure on us.
a lot of pressure on us as a centralized marketplace to lead by example. But just like CZ says, we don't worry about the rest too much and we keep building. And our goal is just to make the marketplace the best tool possible for our user and just make it an easy marketplace to use on a day to day basis. Keep it safe.
keep it up to date with the latest features that everybody wants to have. And we just keep working on building, I guess. And Baptiste, is there anything about the Binance NFT ecosystem I haven't asked that you think it's important to touch on?
So for the Binance NFT specifically, I think the main thing that I will tell you and to give you an absolutely 100% honest opinion, even for myself before joining Binance, I've been trading NFTs for a long time and I've used other blockchain than the NB and B, I've used it
theory and I think that's just not just for bindings but I think for the NFT space to grow, we need to really focus on, I guess one thing would be to be multi-chain and to make the user experience as easier
as possible for the onboarding. And I think we are starting to see some project founders kind of put this at the forefront of their 2023 roadmap. You know, we have projects like what's the name, the Pajipinguin are going cross chain. So they recently launched their sole transports
feature where your project can basically move from Ethereum to either Binance or I think it's polygon in Arbitrum I think. So you know we're the cross the bridging like this across multiple blockchain I think is going to be one of the big things that people are going to see more
more and more focus on, not just from Binance, but I think from Project Founders and other projects as well. But something definitely that is going to be one of the priorities at Binance and keeping that bridging process so everybody can be exposed to NFTs from different communities and
different, I guess, blockchains as well. Amazing. I wanted to go back to the flow of idea we had or rather the exchange of ideas that we had earlier on in the broadcast and ask you about NFTs again.
Obviously, the disruption of NFTs with respect to gaming and art and music is quite clear, but curious to know what you think about these NFTs are going to do for other industries. What other industries you see in the near term and then the long term being disrupted by this technology?
That's always one of the big questions. There is a clear difference to make between what we call NFTs nowadays, which is most likely going to be either a PFP or a unique piece of art, which is what 90% of the NFTs are.
these days and then there is what NFTs can be in the future, you know, and NFTs really just a digital proof of ownership and nothing more than that, right? Everything else on top of it is just based on the input of the creator of that NFT. But I think what will really disrupt
The world I guess you know is when NFTs become things that will have will be tracking changeable meta that meta data or meta data, you know, it's like tomato tomatoes and even on which one and but you know things like for example if you have a car and your car has to go to the repair
hair shop etc. These things are at some point going to become an NFT and you know instead of having the NFT for your car and the history which will be just some papers that you will likely lose you know instead it's going to be an NFT or when your house will become an NFT and all the repair that you put through the house
or if you add an extension, etc. All these things are going to be recorded through the things that will be NFTs and that will have changeable metadata. I think that's what will really scale up. Because then you don't need a PFP, you don't need an artist, and there is, I don't know how many millions out
houses are in the US but that will just obviously overtake the amount of wallet from PFP collections and you know if you imagine how many cars in the US this is millions and millions and millions of technically possible NFTs that will be that will be scaling up you know. I'm excited to see how
NFTs change the way people buy and sell home titles. I'm also interested in seeing the ways that NFTs allow people to store their medical data, own their medical data so that if a let's say, a big pharmaceutical company wants to pull from that data and decide whether or not they want to market one way or the other,
they have to pay a small royalty to the person who's getting there. There's so many more use cases, right? So we're talking about materialistic things here, like a house or a car, but it could be also the things like your curiculum, whatever you've
for it in the past, will be trackable through some sort of NFT at some point, whether it's your diplomas, your scholarship, results and all that stuff, you will have your own NFT at some point, I guess, where all these things will be kind of tracked over time, and it's going to be immutable.
and changeable. Yeah, we were talking about this notion when I was having a conversation about soulbound tokens and how you could essentially have a soulbound token that has your undergrad degree, your grad degree, your credentials, your resume, all of the things and accomplishments that you've done over the course of your life.
Again, this is going to be really interesting. I think NFTs are where our today where Bitcoin was maybe in like 2012 or 2013. Yes, you know what? It's funny you say that because actually a little personal story, when I left my web to job, I basically had exactly the same
thought is what you just said now, I was in 2022, early 2022 and I thought to myself, you know what, I missed a Bitcoin rush, you know, because I really really discovered Bitcoin, it was already 2018, from late 2017 and I thought, you know what, NFT is like the same change for this decade, you know, for the 2020s, I think it's going
to be the same impact that Bitcoin had in the 2010s, if that makes sense. Yeah, no, it makes perfect sense. And you know, that's I guess we've been talking a lot about NFTs, this is a finance NFT space. What are some other sectors of the
industry that you find interesting and you participate in and that you're bullish on. Yeah, that's a good question. If you're asking me on a personal level, you know, me, I'm really interested in in the content creation side of things that happen around NFTs. You know, I think there is a tremendous community approach
in general, whether you're part of a community through being a holder of a specific NFT collection or just focusing on creating your own audience around the world of NFT. That's why, for example, we have started the Binance NFT spaces twice a week. We bring founders.
We talk about things that are not we are not really talking about violence during those those winter spaces Because the goal is really to educate the Educate our our audience, you know, and I think that's one thing I'm really passionate about from from a personal level is education, you know because I think it's
It's all well and good to say, well, we have an easy platform, we have a great onboarding process, etc. But if no one really knows what you're doing, or if no one comes on boards, it's just not really going to make any difference. I think education and simplification of the onboarding processes are
two things that I think have like a huge potential you know from a content creative perspective and we're so early I saw I saw a tweet from I think NFT statistics yesterday or two days ago and he was saying that there was around 12,000 active Ethereum wallets I don't know if he was on a
weekly or on the monthly timeframe, but anyways, it was just not a lot of people, right? And for us to, you know, if we were to have 100,000 users or a sit in, we're almost doing a 10x on the number of active wallets, right? So we're still out of the regulatory time stage right now, but for that next generation,
to come in, they need to have an easier onboarding process than we had it two years ago and there just needs to be quality content around NFC's in general. Wholeheartedly agree with you on content creation and also wholeheartedly agree with you on interfacing with web
need to be seamless and easy in a form that grandma and grandpa can do it. And we always say that on this channel that the future of massive option is when everyday folks are interfacing with Web 3 without even recognizing that they're interfacing with Web 3. So let's say for example, it's staking the liquidity pool or staking
code of default tokens or the 16 steps it takes to do that needs to happen in a click of one or two buttons. I think we're spot on with that. Exactly right when when you know just the fact that we were saying that while if you want to buy an NFT you have to convert your dollars to BUSD or to Ethereum etc. you know like the we
If you've bought your first NFT, you're already at a good level of knowledge and then understanding of what's happening because it's just not easy. If you just hear about an NFT today for the first time, it's unlikely that you're going to buy your first NFT today unless you have someone teaching you and showing you the ropes right?
And I think that's something that needs to change drastically for us to get that 1 million user. Well, Baptiste, it's been a pleasure hosting you today. And I know we're going to do something like this in your neck of the woods next time. So excited to collaborate on that. And we'd love to
have you guys on any time in the future to talk about the different ways you're innovating would love to have you on our aquarium panels where we have socratic style discussions around hot topics in the industry and beyond. If there's anything you want to leave our audience with before you head out today go ahead and do so now but it's been a pleasure hosting you. Yeah thank you it's been it's been awesome you know we don't come to
other people's spaces often and yeah it was great you know and we really appreciate what you're doing for this space as well not just hosting us today but I know you have a lot of the big players on your on your podcast which is fantastic and yeah I just want to say you know keep educating because that's I think one of the big missions
you have and it's a really noble mission that's underrated right now and underrepresented as well. And for the audience, I would say keep building whatever you're doing and it's the biggest opportunity right now is ahead of you. So whether you want to become a full-time Web 3
person to be trendy or you just want to start doing something in NFT space, you know, just get started and keep building and the bear market is actually the best time for that. So yeah, the bear market is the best time for that. Best time for accumulating, it's best time for networking, it's best time for
building so definitely don't get bearish now. This is the funnily enough this is the time to be most bullish. Funny, you just said you know it's the best time to what you decide to communicate or to make connections I guess and you know I think it's important to realize that in the when the market
is how it is now, the average crypto twitter user that's still in the space is going to be the highest level of knowledge that it ever is, right? Because we have far fewer people than we had in the bull market and the people who are still here are people who are interested in either NFTs or crypto
general right? So most likely those people are the ones that know the most out of the entire people that were there compared to like the year ago right? So 100% you know keep, keep sliding in the DM and keep making new connections you know. I think it's one of the hidden gems of the bear markets.
Beautifully put and couldn't have said it better myself. Ladies, gentlemen, that was Baptiste of the Binance NFT ecosystem. We'd love to have you on today. Remember audience members.
Everything that you hear on these broadcasts is meant for educational purposes only nothing is financial advice so be safe out there take care my name is Noah for now signing out Bye-bye everyone