"An NFT-token is a unique digital certificate stored in blockchain, which guarantees the item's originality and gives exclusive rights to it."
Meet Alex Miller. Since his childhood, he has always been interested in IT. He started with developing websites & dealing with SEO, after which, he moved to affiliate marketing and started building his team. Four years ago, together with his team, they launched their first mobile app. After that, they started creating health-related apps, utility apps, and also mobile games. Ultimately, he realized that the main goal is not millions of dollars of profit but millions of happy users. That’s when you can see the real value of what you’re doing.
Alex studied everything he could, including investments, IDO, tokens, DeFi. Together with his team, they launched several tokens, and since the beginning of summer 2021, he got interested in NFT and realized that this was his ideal field. At first, he invested in NFTs, but then started launching his own collections, bringing cool people together.
Now they’re launching a 3D NFT collection called MetaSphere. It’s a collection of 6666 Cyborgs on Ethereum blockchain with a play-to-earn game included. His role in this project involves the vision and overall concept, dream-team building, financial management, and marketing. His goal is to ensure that the users of their product are happy and satisfied.
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Table of Contents
Thank you so much for doing this with us! Our readers want to know, what exactly are NFTs, and how do they impact our society?
Alex Miller: An NFT-token is a unique digital certificate stored in blockchain, which guarantees the item’s originality and gives exclusive rights to it. When purchasing an NFT token, the user acquires a certificate for a piece of artwork. At the same time, the artwork doesn’t move anywhere. It is located on the perpetual storage (IPFS). This certificate is basically the strings of code that confirm that the token owner is actually the owner of the original copy of the item. The NFT token is compared to a painting, which may belong to a gallery, museum, or individual, but the audience can see it in a catalog or exhibition. The NFT form can be used to create anything you want, including music, images, text, video, 3D models, in other words, any digital product that claims to be unique.
Needless to say, there is a great public interest in NFT. There are collectors of contemporary art who want to expand their collection, purchase NFT to make their collection more complete, and investors who invest in cryptocurrency and various DeFi projects to make money. Indeed, NFTs are popular among art creators as well. Many famous artists sell their NFTs for millions of dollars. For example, Beeple’s NFT collection, Everydays: The First 5000 Days, was sold at Christie’s for $69.3 million. Entire companies are appearing dedicated to the development of large NFT collections. Moreover, not just NFTs are sold but also the items that stand behind them. For example, we at MetaSphere, create not only 6666 3D pictures but also the opportunity to access our play2earn game and the Sandbox universe.
- Play-to-earn is exactly what it sounds like – a business model where users get to play a game and earn cryptocurrency while doing it.
- It’s a very powerful psychological model because it combines two activities that have been driving mankind since the dawn of time – making money and entertainment.
The key component in this model is to give gamers ownership over certain in-game assets and allow them to increase their value by playing the game actively. Usually, in the crypto world, defining the ownership and even transferring it is possible through the use of NFTs
By taking part in the in-game economy, players create value for other players in the ecosystem and for the developers. In turn – they receive a reward in the form of potentially appreciating in-game assets. These assets can be absolutely anything ranging from appealing characters with variable scarcity to a certain type of cryptocurrencies.
- The main idea is that in play-to-earn games, players are rewarded for putting in more time and more effort into the game.
- It’s a relatively new phenomenon in the cryptocurrency market – or at least it grew in popularity only recently, especially with the advent of one particular project – Axie Infinity, but more on that later.
In MetaSphere we also plan to launch our own token (will be airdropped to NFT holders), as well as staking, farming, a marketplace of game items, and many other things. So, you will be able to earn real money playing our game.
NFT owners will also get access to the private community of NFT investors, as well as access to future collections. Also, you’ll get Comics, Blind Boxes, physical prizes, merch, and other things.
So what is the connection between NFTs and cryptocurrency anyway?
Alex Miller: The NFT system constitutes part of the blockchain or its chain. Blockchain is a technology that stores (inside the chain) in special blocks the information data on all previous transactions. Such a system ensures the safe storage of information. It is impossible to simply take one block without destroying the created chain.
For example, a user wants to buy a painting and make a transaction. This process results in the creation of a new block that grants permission for such a transaction. It is linked to the other blocks and transmits data about the ongoing transaction to them. The new block is automatically added to the chain if authenticity is confirmed. Only after this process, the transaction is validated and the user receives his file. Each separate record in the chain is called a token.
If the blockchain is open, it is possible to replace tokens with identical ones. But this cannot be done in the NFT technology. For example, if you have bitcoin, you can replace the cryptocurrency with a similar bitcoin. NFT tokens are unique, and there are no options to replace them.
Are NFTs the future of art and collectibles?
Alex Miller: NFTs will definitely take their place in art, but it will hardly replace traditional art. With some NFTs selling for millions of dollars, what exactly makes an NFT so valuable?
Currently, NFT-tokens can completely change the property rights system for online content. They are used to protect crypto-videos and pictures from illegal downloading and copying. The NFT also makes copyright issues much easier for producers and musicians. Tokens will help streaming services quickly and conveniently license shows and movies. While we can still download the files we like, their exclusivity rather than their online availability is what creates the most value.
Blockchain reliably records that it was you who purchased a unique item previously created by its original owner, whose data is also stored in the blockchain. The implementation process itself is also positively affected by the speed with which NFT tokens are purchased, as compared to physical items. It’s easier for users to support their idols without using third-party e-systems and resources. They just get the copyright to own the copyrighted content.
Thank you for all of that. You’ve shared a lot of insights, although now we’d like to ask you: What’s the difference between crypto coins and tokens?
Alex Miller: Thank you for the interview too. A cryptocurrency is a digital currency that uses cryptography to secure and verify its transactions, recording them in a decentralized and immutable ledger known as a blockchain. The most famous cryptocurrencies are Bitcoin and Ethereum. Tokens are a subset of cryptocurrencies. Unlike cryptocurrencies, tokens don’t have their own blockchain, so they use existing blockchains. For example, famous Shiba Inu tokens works on the Ethereum blockchain.
Metaverse is a world in which virtual, non-existent objects merge with quite physical things and events within a single platform, an ecosystem. Just a simple example: in the form of your digital twin avatar, together with other people, you will be transported to many different reflections of the universe, which, depending on the scenario of use, are filled with various services, ranging from educational to recreational. The interaction can occur via a variety of technological devices, both using typical personal computers and with virtual and augmented reality headsets. In some limited form, metaverses are already present on such platforms as VRChat and Decentraland or in video games such as Second Life.
In the metaverses, many online events and games are held. On July 30, Coca-Cola held a friendship day party in Decentraland. More than 2,000 people attended the event. The company built a futuristic building for it with a huge branded can in the center. People entering the site heard electronic music, which intensified as they approached the can. On the first floor, there was a portal that could be used to get to the roof, the neck of the tin can. On the roof, the company placed a dance floor and a DJ in the form of a huge jacket. This jacket was the top lot of the NFT auction. Another example is Christie’s auction house in Decentraland.
In your opinion, what future careers will emerge in the “Metaverse” / Web 3.0?
Alex Miller: Thanks to metaverses, new professions such as meta-events manager, architect, designer, and avatar customizer, targeted, and marketer in virtual spaces, a merchandiser in charge of displaying digital goods in virtual stores, etc., will appear. Metaverses can change the educational field. Now the closest thing to that is Roblox, where any player can become a developer because all the technical part is provided for free by the platform.
Thanks to the meta-universe, education will shift from mastering online programming to learning science through simulations of physical and biological processes. Education will eventually become an immersive environment within which the classes themselves will be organized. Surely there will be virtual teachers. New opportunities will arise for sports as well. Users will be able to attend training sessions in VR studios or participate in real-virtual competitions; for example, each participant will climb a real wall in his gym. In virtual space, it will look like climbing a huge rock. Service companies can also integrate into meta-villages. You order food in a virtual restaurant, and it will be delivered right to your door.
Last but not least, are NFTs here to stay?
Alex Miller: They will stay, but change a lot. As Coinbase’s Brian Armstrong says, “We’re still only at 1% progress in innovation.”
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Alex Miller for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Alex Miller or his company, you can do it through his – Instagram
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