Exclusive Interview with NFT NOW Co-Founder and President Alejandro Navia | KBW 2023

[Music] I tell them to be patient you know when we think about the internet today everybody uses the internet uously right like it's even now considered a public good in 1995 you know Paul Krugman was saying that the internet is is going to be as important as a fax machine right like it's going to go away but um those elements take a lot of time to build right similarly to mp3s nobody calls music MP3 It's about it's a technology layer it's not a physical asset so it's just about really educating the masses and show them in the the use cases and allowing us to have the patience to really adopt new technologies look it's important to have naysayers it's important to have critics it's important to have contrarian thinking because that's the only way products get better that's the only way that true Innovation happens right no one's ever making an improvement on a product because everybody's telling you oh how good it is right you only improve things when people are being critical of [Music] them you know I think for web 3 it's going to be about convenience I think the next iteration of it we went from like full decentralized Maxi right we're all like fully sovereignty we want to control our own money we want to control our own assets but now we're entering into an asset class where individuals want the convenience of web 3 so I think that next gener the next iter a web 3 is all about convenience of onboarding of handling of custody so it's really that the next evolution is going to be convenience number one tokenized media I think uh digital publishing with the rise of AI and misinformation we're starting to see that the truth needs to be verified and there's only one product that can do that and that's the blockchain verifying the truth in journalism verifying the truth of images verifying the truth of information is going to be critically important nft now we're leading the way by creating a new product called sovereignty I think the second Trend that we're going to see is going to be loyalty and rewards right seeing these memberships be Li live on chain so that there's immutable trust and immutable uh services that people can actually track it so I would say like anything around membership clubs shopping clubs ax points things of that nature going to start see we're going to see that on the yeah and then second the third one I think I see it's going to be l2s right layer twos are going to be the next thing I think next summer is going to be L2 summer everyone from arbitrum from optimism from layer zero Bas polygon they're going to have a really big Resurgence and I think that it's going to come back to the matter of convenience how are those three elements come through one fundamentals right is a founder or is a company building on fundamentals and not just hype as that's really important number two is a clear 10-year Vision a lot of Founders only have one twoyear Vision they don't have a 10-year Vision to guide them it's like I always say at nft now we know exactly where we're going to be in 10 years but in 12 months we're still unsure right but it's very crystal clear for having the 10year vision and then I think number three for the element is to have a strong narrative for teams a lot of grit your character integrity in our in our industry there's a lot of scams there's a lot of Fraud and very rarely are we seeing projects that succeed long term that's because a lot of Founders lack Integrity so if you see a Founder with a significant amount of Integrity I always bet on them nft now pass the now pass number one you know I have to I have to make sure that that's number one look I don't particularly look for any nfts in particular it's like what I say to people is find that nft that aligns with your values that you can buy that you can engage in that you can lose the money just in case you know most entities will go to zero as long as you're getting the value whether it's Beauty utility or just pure joy those are the nfts that I tell people to buy right um I look for his history before is this nft valuable from a historical standpoint number two I look at it from a utility okay does this give me access to something else does this open doors to things that I would not be have access to before four number three it's about Community how strong is this community how strong is the network behind it and number four is like is this going to be an nft something that's really important for me is something that doesn't live just in digital can this nft live in digital but also enhance my real life those are the things that components that I would say look for that yeah