Good evening and welcome to yet another session by CoinGamber. At CoinGamber we try to bring you the experts and people from the industry directly who work, who are working for the industry in the industry and are actually the people
who are on drown facing the harsh roads. And they might be the right people who are actually addressing these issues, fighting in their lives, or not almost daily basis, and actually delivering some value. And that is why their experience is actually what we are listening to.
So why not open this round of applause for the two guests of the today. One is Mr. Pinnaki who is a founder and CEO of FI Network and Vikas who is the co-founder and CEO of NFTFN.xyz. Welcome Pinnaki, welcome Vikas.
Hey, thank you. Thanks a lot. Yeah, thanks a lot for having me. Hello, everyone.
So let us just go along with the session and the first question that comes to mind, I mean we all know what an XD is, we all know it is art extended into a digital format. But one thing, one question that comes to everybody that comes even to my mind is what exactly
are we having NFT as a utility for and where NFT is actually going from here because we have seen a lot of projects that came in I understand completely the utility of NFT but other things per se how does the utility drive pinaki
Yeah, absolutely. So I think the way NFTs have started and where they are now is evolved quite a lot. So it started off with just art and people were really excited about the monkeys that they could buy and trade and it's on chain.
So I think initially it was the cool factor and people just wanted to make money, right? And so they found that it was an easier opportunity to flip NFTs than to flip, you know, fungible tokens. But I think, you know, I agree with you, like the landscapes evolving a lot and, you know, the utilities are still to be unrowed
But what we're seeing right now is that yes, in-game assets, there's a very clear utility. You can see brands that are leveraging loyalty systems using NFC's, even as freements to give their community, so that the community can have access to additional perks. We see memberships.
as an interesting form of utility. But even more so, we see tokenization across even traditional assets. So, speaking of someone maybe one or two weeks ago and they were interested in tokenizing title deeds. And so, we might have seen it happen in real estate where people are looking at tokenizing
their properties or their condos, right? But on the national level, right, you can also work with governments and agencies to tokenize title deeds. So it's very interesting like where this is going and I think the utilities are still to be unraveled. I think we're still in the tip of the iceberg.
Well, if I may ask because what is your thought on this particular concept that NFT actually is evolving? This is what Pinakki said, it might completely agree with that. But evolution is taking place in a very, very smaller format. Do you see any future from here?
for NFTs getting into new spaces apart from just the art or I mean a bold monkey or maybe gaming what other factors whatever say streams or domains can have an NFT have utility into
Sure. Thank you. Thanks for the question. I think I'll second the thoughts what Pinnocki just mentioned and NFT as a youth NFT as a concept is definitely growing and It's utility being developed as we speak a lot of brands in the last year have actually leveraged
the NFT as a way of communicating and extending their brand value to their community instead of just air dropping any tokens. So we see immediately that NFT is here to stay because brands are choosing to go in the NFT route
versus the crypto. So that's point number one. And yes, today NFTs actually is revolving around the collectibles, PFPs and stuff. But I think the gradual and iterative improvement in the direction where it is heading is definitely tokenizing the RWA.
So what Pinarki just mentioned is just an element where we will see the lot of value will start getting generated and being captured. RW is the biggest asset class which essentially will be joining NFT as a technology. The assertion of that whether
own or do not own that particular piece in the rWA real world will be driven by the owning that NFT in your wallet. So I think NFT as a utility is definitely evolving a lot of use cases are being built right now and we should definitely agree that last
the market, this is the first B of market of NFT. So we are yet to actually see a lot of pump in the market coming back. Every time we have seen the crypto market jumps higher but I think NFT market is going to both jump even higher because it's easier to create institutional products.
and much more larger appealing products using NFT as a fundamental technology rather than crypto because crypto is definitely somehow is not immediately like because it's seen, crypto is always seen directly competing with money so that's always giving them some
that people are not like very very interested in actually directly completing the money, but here when it comes to the NFT, adding NFTs having a cross-setting done so and in everything other than money. So yeah, that's my that's my two cents. Thank you. Well that's very rightly said because because the things are constantly moving ahead in
a lot of use cases that we are seeing in the NFT and obviously that has been the first bull run in the life cycle of the NFT assets. But, Pinaki if I may come to you once again and ask that how is the evadiution process of NFT going on because NFT we have seen evolved from
the art form to the gaming asset again coming back to the same point but we haven't seen much use cases coming from there. Obviously as we cast emphasize that real world assets being driven by the holding or the ownership of the NFT might be one of the cases. But how long will that be applicable especially when
the actual assets are having a different law governing them and an empty space is having a smart contract governing them. So how I mean there's an expert in the field would you throw your mind of this and actually elaborate as to how these things can be combined or what can be the evolution process of aligning real world assets with the NFTs.
I think as a project, the only way is to comply with regulations, you know, if the project wants to make it. From what we've seen, you know, so I'm based in Thailand and I was at a conference the other day and there's a pretty big player in the country.
And even they have registered their entity outside of the country and the core reason is regulation. So they're like, yeah, once we have regulation in play, we'll bring it back into place. But I think the regulators will have to work with
the evolving technologies. And what's happening right now is that the rate of innovation is happening faster than regulations can be put in place. So, you know, with AI and blockchain and all these things happening at the same time, the regulators are far behind in kind of putting
in the play but I think that's how I would go about it. So if you go by this thing I mean regulators coming into picture, regulating things, changing the whole thinking domain because regular regulators you are rightly I mean very accurate there that they are actually lagging behind in terms of whatever
they are forming into or they are their third process because we are since I've been dealing with regulator on various runs and we are having the same problem in most of the spaces but the basic thing is that how do we educate the regulator? I mean first we need to educate the masses, educate the company
and then we can educate the regulator in a very simple language. So because if I may ask you how can we educate the regulators on this space and on the utility of this space because still now everybody saying crypto is just you I mean it is not in having any utility it is just a wastage. It is just a
virtual asset of course it is virtual but it is having some real life use case. So if we talk about NFT in that particular space how in the most simple of language can we explain it to the regulators that they are these NFT assets are there and they are actually building up for a longer
I think the dialogue with regulator has, regulators has always been open and pretty bidirectional communication have been going on from like very, very long time. It's never that the dialogue was, I mean, it's all the time that dialogues is always there.
And personally, I feel that spaces like these, where we educate people and when we talk about it and then people actually ask questions, they get clarity, they get clarity and then they actually do this evangelization of the core concepts when they actually go to the rabbit hole by themselves. So that's how this site
actually so every I would say to take the fly wheel effect I think we have already crossed that because regulations are there put up in place in multiple geographies not just from Bitcoin, Bitcoin mining, NFTs, NFT derivatives, Bitcoin derivatives, I'm in crypto derivatives as well.
I think it's evolving. More people are actually joining this technology from the tech perspective and they are trying to build on top of it and bringing the fresh products that is global from day one, accessible from day one and it doesn't discriminate.
ask you your background details to actually check on you so that they whether they whether it should allow you some certain transaction or not like for an example, our way our way doesn't discriminate you, anybody with the wallet can actually go and go and interact with that bank. So I personally feel a lot of
regulators have also upskilled themselves in the area. A lot of grassroot innovations are happening and regulators generally always follow a catch up game. So they are following a catch up game with this technology but they are also going to come back with some
thing which can support the innovation because you cannot bet against the technology which have already taken so much mine share in the world. That's pretty much from my mindset. So that's where I completely agree because this market is the first thing about the digitalized world or the web 3 world
is actually diluting the boundaries. So it does not matter which race, which religion, which caste, or which age group you belong to, there is no boundary. Even the nationality does not matter in this case. So you just need to have a wallet that is your identity and then you can go on and explore the world.
That is one of the primary things here. But because since you mentioned the topic, I'll come back to you once again and will ask you if we explore the possibility of a utility in terms of combining NFT with the real world assets scenario, how would that be possible? Can it show some light on that?
Sure, think for an example, let's say I am Donald Trump. I have let's say 10 Trump Tars. Now I want to build 5. Sorry to interrupt you, but I think you are much better than Donald Trump.
I didn't get the joke but all I was saying was that anyone with a good portfolio of real-world assets can put 10% of it as yield generating NFTs which will be backed by real-world
So people can actually they can do a crowdsource of it. I mean they can say that boss hey if you would love to actually come in and you would want to take the share of these real-world assets which are essentially yield generating. People would love to own it because they cannot own let's say the complete thing.
It's just like buying a mutual fund or it's just like buying a mutual fund in a big, big, instead of buying a whole asset individual share. So it would allow a lot of common people to actually get on board with this concept and they would love to actually because a lot of people always know
for deploying their risk capital into new kind of financial assets as well. And these RWA will essentially allow all the stakeholders to, so first of all, the owner of this RWA would essentially be having
ready capital to do the work that they want to do. The owner of these fractionalized real states would start earning the yield from it and then I think both of these parties can be satisfied and then it allows it opens up new and
revenue as well, which is derivatives. I mean, that's where like NFTFN projects like NFTFN comes in very, very strongly, because that's where we allow people to actually go, so go take future, we have deployed future contracts so people can actually take long and short positions on such complex
financial products. So I think real world is going to play a very very cute very very important role when it comes to NFTs in general owning the NFTs dissemination of the utility around NFTs and definitely of course the eels generating part of the NFTs.
If he has gone through any of these things like he is visiting so many places, he's meeting so many people. So what exactly are the innovations, what exactly are the new things in Jvansis that are happening in the NFT space and how are they going to take effect or take shape in the times to come?
Yes, one thing that's really interesting that wasn't mentioned yet was the travel sector, right? So with us we do speak to a lot of different projects that are looking to sell out their NFTs. And so one of the projects
we were speaking to is they're actually a blockchain and they're building for the travel space. And what was interesting is like they visioned a world where you have bus tickets, train tickets, plane tickets that are sold in the form of NFTs. And if I'm not mistaken,
I already saw an airline that was doing that. I know Lufthansa is involved in their project. So I think travel sectors also one area, right? And another one would be events, right? So both physical events and virtual events.
a concert, a movie. These could be sold in the form of anarchy as well. Yeah, I have gone through one such case myself. I met one of the founders of a project who's selling the NFTs of the tickets that are sold for the event because most of the tickets as we see
So once the tickets are sold in NFT, it cannot be filled. So nobody will be scanned into the secondary tickets, Eric market. There is also one of the use cases of this thing. Pinnaki, what are your thoughts on that? Yeah, absolutely. Right? So the utility to prove that it's authentic.
I see that a lot and it happens a lot, especially with sporting events, concerts, there will be a lot of people that are trying to buy tickets, people faking tickets, people selling tickets, people getting scammed. And so the transparency that the blockchain brings and
with the utility of specific NFTs, brands are able to kind of plug in almost anything that they like. So you see this across even music, there's royalties. So you can now invest in a specific artist and now have a share of revenue that's
earned by them. And so I think, you know, like as I mentioned earlier, we're still very early in the space. And I think our minds are going to be blown, right? Even though we're operating in the space, I think that there's still a lot of surprises ahead for me as well. And Vikas,
I do feel so. I mean NFT is people consider it to be a part of exactly the three world or the blockchain world. But I feel NFT is a different domain in itself because it will have much more use cases as far as the real life use cases of any blockchain or any other thing is concerned.
NFT will have its own set of use cases in the times to come. So that brings me to one important question as to how you ended up into this thing, the cast and what exactly is NFTFN into? How are you solving any problem or what is NFTFN working for?
So we started with a very simple question like, okay, I own the Bavc now what? That was the simple question with which we started the whole thought process that what is beyond owning the NFTs? How can we
actually make more utility around NFTs. So I'll give you a very simple theory. So if Web 3 has been a father, it would be given to like it would be having two child. One is crypto, the other is NFT. So
crypto has been taken up really really well in the past 10 years. NFTs yet to get that attention. So it's like that second child right now. So in the market, NFT just went through a really crazy cycle where we see 50 billion plus
worth of value being transacted only on a single platform, a lot of people making a lot of money and smart money moved into the NFTs, of course, including a lot of war-stating cannot affect, cannot remove that from the under-regulated market, but essentially it's just that everybody made money
if they would have been an early entrant in it. But when we started looking at it, we were very simply looking at the very utility that is yet to unfold in the market. That's where we see very huge potential of NFTs and last year actually proved that.
you take any guess of Starbucks, ODC program, artifact, Nike artifact thing, IDDAS, a lot of brands actually jump down to the bandwagon of NFTs. That's where we also say that all road leads to NFTs. The reason being, if in general I could say like
If I, Vikas, is a person, then the money in my wallet is crypto, but the P-shirt, the specs, the shoes, the belt, the wallet, all are, all are NFTs because these are, this is the lifestyle because of which people recognize other people.
and these lifestyle actually is like captured by NFTs, by the essence of NFTs. Like people have today projects in every space. Some people will actually launch socks related NFTs projects because everything is right now collectable. So people would want to collect certain kind of
So, my essence of overall like how did we so once we started peeling the layer of what goes beyond only the NFT
We started thinking that we can see that crypto evolved after people say own crypto they went into trading and after that there were like too many I would say not too many avenues but that and then slowly and gradually suddenly there was like a lot of change D5 summer was there and perps
was there and a yield farming was there. All these things were built during the beer market and then suddenly the innovation came into the face of each and every user of the crypto ecosystem. And that's how we worked. The same thing we were seeing being repeated on top of an FTC.
And if he's right now is just limited to the art digital art collectibles, but we clearly put our bets that it is going to be much more than that. And we built our thesis that it is also going forward. It will have a cross-cutting concern with the real world assets. So then we started working backwards that how can we actually what can
we do then we chose this market that we will be working on the financial is financialized aspects of the NFT we will build new kind of financial products on top of NFT and just for the food for thought like when we started we started asking simple question can we can we build a mutual fund on top of NFT can we build a
different kind of like can we allow people to go long and short on drop of NFT all the same frintech products which we have been using discussing and recommending to people the same kind of financial products we thought about we thought upon NFT then we out of all these things we selected one only
which was and that was the need of the market that I mean we we presumed that this was the market me that people who own the NFT they cannot actually hedge their downside rest today there are there are ways avenues by which you can actually hedge your downside risk in crypto because you can you can go in the pop market you can you can you can buy
combined price volatility of the top five blue chip NFT projects. We built an index that index in itself is a first innovation of our product. The second innovation is like we allowed a price discovery mechanism by order book. So we are a decks which allow order book and you can place your orders in order book and then you're you can
go long or short and the counter party is always I mean this is a zero sum game so the other party also has to be a counter party you have to find a counter party to make your long to be matched with a guy who wants to go short and vice versa so that's where we are we have built a platform which is a completely non custodial
which allows you to go long or short on the top of an index which is backed by blue chip NFT projects. And the utility is very very simple that you can start taking parts patient, parts like you will start parts spitting in the market which is very very clumsy which is very very hard to understand.
like a new entrant would go would go over there because of the kind of NFT projects generally comes in left-right and center, but we we made an easy interface so that people can simply connect their wallet, select the amount that they want to start participating in the market and then they can simply open up the position
longer short. So it's and it kitters to all of this like maybe you own a BFC or you do not own a BFC and even if you are a flipper it just have something for each and every one of you. So yeah that's that's where NFTFN and we are more than excited actually to tell you that we are about to go
on Maynet within max 10 days. So we will be on polygons so please yeah join our discord and come and ask questions like this what is just asked. Thanks a lot for the question. Thank you. That's great because many congratulations on this because I have always been the mean being from the finance side being from the chartered account and seaside. I have always
of financial derivatives of the product. B it art, B it collectible, B it use case, whatever. It is just a financial derivative that matters. That is holding the value reposition in a product for a longer period of time. If the financial derivative or the financial outcome of that thing, you
it's air, it totally goes out of market. So that is the biggest part we have and that is where somebody need to work upon and you actually did something great in it. Pinaki, now coming back to you, we would also like to understand that the listeners would like to understand what exactly is the space FI network is for
Yeah, absolutely. So, Affe Network is in the, if it's not me, taking you asked for the phase, correct?
You asked for the which phase we're in, right? I mean, we just wanted to understand about a finite work.
What's the product on your printing and how you're going to take it through in the future?
Absolutely. So, Affy that work, I mean, Affy comes from the word affiliate. So, where it started was actually at my previous venture. So, my background is in entrepreneurship and marketing. I've been kind of dabbling in this space, working with a lot of brands. Initially, in production,
to deliver commercial content. And from there, we launched an influencer company. And so through that influencer company, we had a chance to work with brands like Decathlon, Happy Fresh, the Billow. And we ended up working with 2,500+ influencers. So we ended up creating jobs for
to 2500 influencers in the country. And a lot of our customers that we were working with were actually looking for something that was a performance, on a performance basis, right? So the previous model was, you know, you pay upfront for an influencer post. And, you know, sometimes a post wouldn't
where it's sometimes the post where we had to be curated. There was many layers to it. And a lot of times we had people saying, can we pay per shoe sold? Can we pay per IoT device sold? And so for us, we wanted to create a lot of impact. We wanted to create
and income stream for a million people. And so scalability was really important for us when kind of navigating in the space, right? So, you know, we wanted a scale to India, we wanted a scale to Indonesia, we wanted a scale to Bangladesh. And we have to be very strategic about what products could we actually scale? How could we offer a performance space
affiliate type solution for influencers and how would we verify these conversions? So would it be the delivery person and the last mile? Would it be us? Would it be the user themselves? And then how would we scale this across multiple industries? So it would be extremely different for someone who was referred to by
coffee over a counter, then somebody who's ordering a baseball online. So, you know, those are some of the things that we were thinking about. And so I was already personally investing in crypto. And I realized that actually the way to
scale this would be using the blockchain. So we would be able to use the blockchain as a database. We'd be able to use the blockchain as a way to pay people around the world. And that would allow us to go global. And the thing that bridged all the industries together
was in fact the NFT. And so we realized that by pivoting the model slightly, and we'll actually a lot more than slightly, to a complete performance based model, we would be able to go and offer a lot more value to our customers on a global level while providing individuals around the world with an opportunity
to come and earn money. So the product was actually fairly simple to use, right? So an advertiser would come on, they would create a campaign very similar to creating a Google or Facebook ad. At the end of the campaign, they wouldn't, they would be deploying it. So we built a no code smart
contract builder that allows any advertiser to deploy their own smart contract. So each campaign launches a smart contract and you can enter like certain parameters that you want, right? So let's say you're selling a concert ticket, it's worth $100 and you want to give a 15% commission. So you say I want to pay $15 per NFT.
So all those parameters can be customized on a feed network and then deployed as a campaign. And once the campaign is deployed, it's populated onto the marketplace. And so publishers, so these are influencers, any form of content creator, anybody really can just come to the platform and
So without revealing the identity, you know, can they can anonymously come to the platform and request a referral link. So we have a system that would basically pump out a referral link for each individual and match it to their wallet. So that's basically how we know and track on the back as well.
And this user can then take this referral link and post it anywhere they like. So they can put it on YouTube, they can put it on Twitter, they can even put it in as a hyperlink in their blog as part of their email in a mailing list. So there's multiple ways that users can benefit from this system. But essentially as soon as someone purchase
is through that link, that person who purchases would receive a cashback and the publisher would receive a commission. So all of this happens in something or almost instantly a minute or less. And yeah, so we're able to allow the advertiser to win. The publisher gets to win.
the platform wins and the buyer wins. So that's kind of how we got here. It does feel a little early for some of the things that we want to do, but in terms of where we are with our products, so we have launched, we launched on March 29th, we had our beta
launch. Prior to that we had two rounds, so we did a private testing for our testnet and we did a round of public testing for our testnet. We got audited, so our course Smart Contract is audited. We've opened it, so also given some info on that.
And we were also selected as a top 100 startups by Paris Blockchain Week this year. So we've been pushing a little hard and we also rolled out like our own NFT collection and the idea of this NFTs more of a membership. So that's the utility, right? So users who use this. So
Essentially it's a PFP for publishers. So we have different types of publishers. So we have like TFPs where the person is holding a camera or another person is holding a paintbrush. So each person has a different way to publish. And so we want to appeal to the different
And then also with the NFT itself, we're rolling out a lot of the
a web 3 marketing academy specifically catered to publishers and influencers so that they could or anyone really that wants to be entering into this space right so even web 2 influencers and creators that want to come on board would have access to education so we're going to provide an academy experience
experience and the energy would be the access pass to this to this academy as well as the close community that's linked to this academy. So we have a supply of 3333 and that's how many people would be allowed to access this specific academy that we're working on building and aiming to roll out in Q3.
That seems quite good. Even similar to what you said about where 3 marketing academy. Even Coin Gables working on something like that. We are coming up with a rubber university where we will be actually starting the education of the 3 from the basics of what is blockchain and what is crypto or what is the water.
it or something like that. So I mean that is what I believe in is the actual space right now. The more the education, the more will be the acceptance later on, the more will be the adoption of this particular concept of blockchain in the three world because that is the need of DR. And that is one of the major reasons why
because without a community, any business or any space is nothing. So that's where I would rest the description for today. But before going, I would like to have some closing remarks by Vikas. If I have missed something or you want to highlight certain points, you can please do that.
I think I personally enjoyed the conversation because it was very sharp conversation related to net teas and around the utilities of it. And we were just happy to be playing our part in the overall ecosystem. We just want more financial avenues.
for the users to actually go out and trade. That's where with that intention we are working really really hard and I think we are going to blow a lot of mine with the UX, with the site, with the content that we are doing. It all starts with the design we have worked really hard on the design
part we really think that we have solved a lot of blockchain related problem with the design and then communication we are nailing the communication from our side and I think yeah rest remain the product I think we are very much confident on the product side we just we would be more than happy to coin the burst community a fee community to actually
to be start seeing what we have built and giving us critical feedback, what you don't like, what you really really like. And that's all from my side. I think I really like the conversation, I like the flow of the conversation as well. Thanks a lot to be for managing this one. Thank you for the point, Robert, team to manage this one. And then I'll keep you in an amazing co-pandex. Thank you.
So by chance, if you are speaking, you are on mute. Oh, sorry. Pinappi, any final concluding remarks that you want to put anything that we might have in the mail story, you want it to be a part of discussion?
I think I had a chance to cover most of it. I had a really good time on this chat as well as Vikas mentioned. It was very sharp. I had a lot to share and also learned a lot from this conversation. So thanks a lot for having me and to the CoinGover team. It was also really nice to speak to Vikas.
I'd like to invite everyone to join our community. I'd like to invite everyone to share what they think about our product on Discord. It would be really nice. We also have a lot of activities going on on our Twitter. We have some giveaways. We have some programs that we'd like to encourage you guys to come and join.
Lastly, I'd like to wish Vikas a good luck on the main at launch. Thank you very much everyone. That was Vikas and Pinnaki to leaders in the NFT space and one thing if you ask me what are the takeaways for today's discussion. First thing is what Vikas asked and that hurts me right
this thought is that once you hold an NFT what from there that is very important part because just trading an NFT is not the solution there has to be use cases that are that should be built about that and of course I mean the pinaki what he explained this concept is like
should be a community of the influence or there should be something that we are doing for the community giving it back to the community because influences are the front-runner forces for doing things and influencing the market and everything what we are seeing in the market today. So these are the two key points that I would take as takeaways from today's discussion and that
would be my concluding remark that please guys go to NFTFN, Guru and Affin Network, follow them and actually build with them. That is what my motto is, let us all build together. We'll all make it. Thank you so much for nice description. Bye bye.