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Exclusive Interview With D.A.N. @dandotxyz (L1X | Hackathon 2025 Participant)
Recorded: March 29, 2025 Duration: 0:23:21Space Recording
Short Summary
DAN, the Digital Asset Network, is set to revolutionize digital ownership with innovative solutions aimed at various industries, including gaming and education. With a strong technical foundation and a vision for significant market impact, DAN is actively participating in the L1X hackathon to validate its offerings and engage with the community.
Full Transcription
Good morning, good afternoon, good evening, wherever you're at in this crypto world.
My name is Cody and I have I got another exclusive hackathon participant interview
for you today. I am joined by Yugal. How are you,
my friend? Hi, Cody. Thank you so much for having me here. I'm doing great. How about you?
Doing well, doing well. I'm glad we've been able to connect and definitely learn more about what
you're doing. As most people in the community know, I am totally passionate about DID projects.
And if I know my form that you filled out correctly, I believe that's right up your alley.
So why don't you just kind of tell the community a little bit about who you are, maybe who else is
on the team, kind of behind the project, and what the name of your project is?
Hello, everyone.
Myself, Yugal.
I am building DAN, which is Digital Asset Network.
And I'm building this with my brother, who is also the author of ERC 7066 and 7721.
is also the author of erc 7066 and double 721 so he has authored two standards on around digital
ownership and we are bringing change to how we own assets in real world so we believe that going
forward and the future is belongs to blockchain powered ownership mechanism and digital assets are here to stay.
But there has been challenge over like last three to four years,
because I think NFT was the novel technology which came and which was,
the idea was to define ownership on chain to the digital asset
to the digital asset and make the differentiation from the fungible tokens.
and make the differentiation from the fungible tokens.
So while we have seen a rapid growth,
but it has only been limited to fewer markets,
which was art and collectibles and gaming market.
But we knew all of us that there is a good potential across different industries,
be it real world assets, supply chain record and so and so but ip ip asset being another
ip asset being another market but we have not seen the potential and the adoption in these
industries so our understanding is that these adoption is sort of halted because the way infrastructure is packaged it's not easy for every team member
to adopt and go live with digital ownership workflows because we are only seeing newer
organization or web3 native companies that are popping up and bringing those assets but
traditional assets are yet to come on chain and that's where there
will be a less speculative value and more transactional value and that's what the future
we see and we are working actively towards it so with dan it's quite simple we understood that
hey there are several inefficiencies at different layers it's not easy for anyone to go
live with applications or interfaces and because they keep on dabbling around or waste or invest a
lot of months figuring out what are different toolings because they have to work with five to ten different vendors to make one application work so it's it's a pain for any normal business or individual contributor to
to go live with certain experiences and secondly current standards or the way nfts exist they are
right now very rigid because they can only work with one protocol at a time
so if you have borrowed capital against your asset you cannot rent it out or you cannot put
that on marketplace so that limits the potential or the liquidity of an asset and and we have seen
historically in real world that hey there are if you own any real estate
you can look for buyer for next six months you can still have a tenant inside and you can still
borrow capital from the bank so you are utilizing multiple financial instrument all at once which is
not the possibility right now so dan is solving and bringing standardization to all these problems
we have a protocol which lets asset move very quickly very fast and among different protocols
and across chain so as layer 1x ethos are it should be abstracted we believe the same we also want these
access to move around independent of chain and independent of protocol so that's what we are
solving at protocol layer we have industry specific apis which is at mid-layer and then we envision adoption will start kicking in as in when we can
bring a standardized framework like Shopify did it for e-commerce so if we make it so simple for
anyone to go live that would be the time where we will see a hockey curve stick and in terms of adoption of digital ownership
assets so we are we have three layers uh and that's what we are solving we actually solved for
gaming and art and collectible on dan there are two products uh which has gone live stream nft
being the one which is more focused towards gaming and our collectible market.
And then Ed3 being the another one where we have solved the IP market.
So we are tokenizing educational assets and enabling creators to truly own these assets and distribute and monetize the way they want.
So these are the two products and there are about 15 different games.
There is a music platform.
There are hospitality businesses,
which are utilizing different pieces of our infrastructure.
And when it comes to protocol layer,
because I haven't touched upon,
because our entire foundation is our protocol layer and protocol
layer essentially enables any project to build their entire ownership economy and scale so we
believe there are four form factors you create value so you need a value creation stack which
could be in-game asset which could be ip nft which could be rw asset
and once the value is created you need a primary liquidity protocol for trading so once and these
assets gets actively traded on a liquidity protocol and when they are not actively getting
traded you need a secondary market which consists of me i should be able to
share my asset with someone else with kodi and or i should be able to borrow capital from the market
so we have rentals and loan protocol at a secondary market layer and the final thing if i am not
utilizing any financial instrument with the asset then i'm perhaps looking at utilizing this asset or
consumption of this asset whereas i may get 50 discount on starbucks for holding certain asset
or it could be in the virtual world so there's a stack we have at a protocol layer and and easily
anyone can go live with application with us so So that's what Dan is there.
And we have seen a great traction.
Very excited to bring this innovation
and the entire stack on layer one.
So yeah, thank you for giving me the opportunity.
Yeah, that was a great presentation.
So a couple of quick questions.
So Dan stands for what again?
Digital Asset Network.
Digital Asset Network, Dan.
That's a good one to remember.
Do you have any social setup for Dan yet?
Yeah, we have a website.
We have Twitter handle.
We have a website for StreamNFT and Twitter handle, and. We have website for stream NFT and Twitter handle,
and as well as eight three,
eight three is the educational product.
So yeah,
like we are all across with these three.
Okay.
Perfect.
Perfect.
So again,
I encourage you to jump into the community and share the handles,
share the link to your website.
The community definitely wants to get to know these projects that are going
to be building within the L1X ecosystem. So you definitely gave a very thorough breakdown of what you're
doing and why you're doing it, how you're doing it. But I have a couple more questions around that.
So, you know, why L1X? Why join the hackathon?
Why L1X? Why join the hackathon?
Right. So we are seeing like right now, I believe ownership is what we are dealing in.
And when you combine it with an identifier who owns their own data and it's the similar way to owning an asset and the way your entire stack is
structured where you can have different profiles and we are also actually looking at ownership
assets across different domains so we are not restricted to one market we are in gaming, art collectibles, IP, RWA.
So we feel the way we are making dent across these markets and enabling users to own asset across different markets,
it would be a perfect fit for us eventually to give our users an experience where they can manage their own profile and own
those data points and share it with other group of wherever they want to share. So I think management
of data would be very important as in when their asset size grows or number of assets they own grows, and they will be able to effectively manage it with the framework layer one brings.
Yeah.
Yeah.
No, I totally agree with you.
I mean, it's interesting because when I'm trying to explain what L1X Xtalk,
our interoperability innovation is all about.
You know, it's kind of like, ah, your guys are a bridge.
You've done this.
No, no, no.
Hashtag burn bridges, baby.
That's not what we're all about, right?
We don't even, we can move assets to EVM and non-EVM,
but we can also move data and logic.
And I think that that's one of the kind of components that a lot of people
forget or kind of zone out by the time we get to that kind of feature about that innovation. So,
no, I'm kind of excited for you to check it out, dig into it deep and start learning more about it.
So, you know, how long have you guys been working on this project? Just curious.
So, you know, how long have you guys been working on this project?
Just curious.
So close to three years.
Yeah.
So we actually started with a very novel use case of sharing an asset.
That was the rental protocol was the first one.
Then we figured our way and understood the market better that you need to have a stable
economy before you can have a sharing economy so we work towards getting into a primary economy aspect so while we have built the secondary
economy but we also understood that hey there are challenges with the standards which exist or like
the way these uh nft assets are being produced so we ended up building or proposing
our own standard which is erc 7068 and 7721 so yeah it's been quite a ride where we understood
technical nuances but we also understood the economic side of it why some things makes some
industries make sense and how can we open up
newer industry and that's where the education initiative came so we are still learning we are
still growing but yeah it's been very humbling right nice so would you say education are you
talking about like courses online kind of educational course. Okay, perfect. Yeah. Okay, that makes sense. Yeah. And so,
you know, you've kind of touched upon it a little bit, but where do you really see
you guys fitting in and helping the broader blockchain and the L1X ecosystem as a whole
with your product? Yeah, so there are two ways. One is we want to support developers who are building
because I think we have a stack which enables anyone
who wants to create a community for specific niche.
It could be a social gaming platform
or it could be NFT creators,
like art collectors platform or it could be um nft creators like art collectors uh platform or create a community so we can quickly make them live we have white labeling we have other
interfaces already with us and our back end and contracts uh can easily be worked out.
So that's one angle where we come in and enhance and grow the ecosystem
by enabling communities and developers who wants to go live with certain experiences.
And second is we will also be bringing those applications which we have already built,
we will also be bringing those applications which we have already built which is stream nft
where someone can trade those assets where any creator can independently come and they can start
creating those collections and build their own set of communities so that's that's the second
aspect but we we want to actually enable other developers to come and build on top of us or like use the infrastructure.
Perfect. Perfect. And it sounds like it sounds like some of these other use cases that you've kind of already developed.
Those are available off of your guys's website, right? want to go check it out okay perfect and uh uh so this what you're going to be building on l1x
is kind of still are you guys currently working on it or is it just kind of ideal process right now
id i idea and concept stage would you say or is it in production right now uh so we are just
finalizing our architecture and understanding so more like developing a roadmap uh and where we go
into the execution mode but yes right now we are just understanding and then aligning our next set of sprints where we can actively work on going live on layer 0x.
So pretty soon.
Yeah.
Okay.
Okay.
Yeah, that makes total sense.
So yeah, it'll be fun to kind of watch you guys perform and be able to hopefully share some alpha with the community across the next couple of
weeks and months as we kind of progress through this hackathon. So kind of coming back to the
hackathon thing, you know, obviously, what kind of things are you expecting to get out of the
hackathon? Do you have like specific goals that you're trying to achieve? Do you have
milestones that you're trying to hit? Like, kind of fill us in
there. What's your thoughts around that? So, validation. We want to see where the community
stands with respect to the experiences we want to bring and also collect feedback about what are
other ways or other product features they identify that would be ideal
fit and and accordingly we take that up in our product journey and then we build those solutions
so that's one thing where we just want to see what would help the bigger community and And secondly, our goal is to also identify business opportunities,
like work with different developers who might be in need of a very small API or SDK or anything.
So just work with them and give them tools so that they can go 10x faster and go with experiences.
So these are two-sided things where we just want to have that initial community, take
that feedback.
But at the same time, we want to build fellow developers who wants to go live with certain
experiences.
Nice.
Nice.
No, that's great.
So kind of what have you guys, I know you're kind of in concept and
roadmap phase right now, but when it comes to like go to market strategy, specifically with
these developers that you're trying to target, do you have a go to market strategy of how you're
going to get it out to these developers? Yeah. Yeah. Usually we just check out different ecosystem being active
on Discord or within the community. I think most people who are building, they are part of the
community and they actively are asking certain questions. So the idea is we generally just being active uh either on telegram or discord and identify them through
x reach out outreach and with outreach just open up conversation get on a call and figure like
because they might not have some need right away but we just want to share what we are there and
then accordingly we can connect as in when something relevant opportunity arises so that's the gdm second we believe
largely or our my understanding has been across different market where the adoption has not been
done is first we need to prove uh businesses the web to businesses, let's say,
there needs to be a proof of demand
which will come from community.
So initial concept or like initial people
who really believe in certain idea,
they will identify, shape up the product
and prove that there is a need for the specific product or experiences
and then eventually businesses would come and then ape into it so i i believe that's how decentraland
sandbox they grew because initial there were community which came in and then later on brand
came in so yeah that's the kind of GTM approach
broadly short term is identifying people
who are most relevant right now
and then build those use cases across,
keep the community engaged and active,
build for them so that larger businesses
can come and be a part of layer one X ecosystem.
Yeah, no, I love that.
I love that.
So I've got one more question and it's probably the hardest question to answer, especially at this stage that you guys are in.
But where do you see Dan in the next few years?
Like if you could throw a dot out there in the universe and chase after it what kind of
impact would you want to have where do you want to be where's your thoughts on that i think the
first immediate goal which we know that by 2035 20 trillion dollar worth of assets will get tokenized i see dan to be playing a significant
role there because in order to get those 20 trillion in we have to make an impact across
different industries so from health care to supply chain to luxury goods to real estate there are multiple industries energy deep in where the impact will uh matter
the most uh and dan will be across different industries so if it's within one vertical
let's take within education i would see a success when udemy sort of integrate digital ownership workflow and they use Dan.
So I want to go more enterprise.
I want more and more enterprise to adopt those digital ownership workflow.
We will educate and be an advocate of digital ownership across different industry.
So yeah, that's the vision for me where I want to take Dan in the next 10 years to 15 years.
Nice.
Nice.
That's a good game plan.
Thanks for taking the time to sit down with me and walk through and introduce your project, introduce yourself and your team to the L1X community.
We have a great community i again i think that if you get into the discords if you
get into the twitter conversations uh you'll definitely see that they they are a phenomenal
community and they will definitely give you a lot of love if you keep dropping them good alpha so
uh and and a little bit of updates around your progress i think that's going to be paramount to your overall success
and that validation that you're looking for as well. So thanks to everybody that is watching
this. We appreciate you guys. We love the community. We appreciate your support. And
give Dan a quick retweet. Let's get this out there. I mean, DID is something that we definitely need to
get working on and lots and lots of room of opportunity there for him and what he's building.
So until next time, thanks everybody. And thanks, Yugo, for jumping in here with me as well.
But until next time, we will talk to you guys later. Have a good one.
