‘Web3 offers us the promise to rearchitect the internet,’ says NFT.com Founder Jordan Fried

Nonfungible tokens (NFTs) experienced a record-breaking twelvemonth passim 2021 successful which income volumes surpassed $14 billion, avatar collectibles permeated the mainstream marketplace to go taste presumption symbols, and avant-garde inferior sparked innovative Web3 opportunities for a panoply of industries. 

Despite a retracement successful fiscal and affectional fortunes successful the opening 4th of 2022, expectations wrong the NFT assemblage are reigniting for the impending docket of calendar events specified arsenic the motorboat of Coinbase’s nationalist NFT platform, and the imaginable for OpenSea and MetaMask tokens.

In an exclusive interrogation with Jordan Fried, the CEO of Immutable Holdings and Founder of NFT.com, Cointelegraph learned Fried’s position connected Buffett's interaction connected Web3 ideologies, the imminent merchandise of NFT.com, arsenic good arsenic the usage of Hedera’s statement work to way the minting of profiles.

Fried has been progressive successful the cryptocurrency abstraction since 2012, utilizing Bitcoin arsenic a outgo method successful a VPN business, and aboriginal arsenic a halfway subordinate of the founding squad astatine distributed ledger exertion Hedera Hashgraph, personally recruiting Google, IBM, Boeing, LG Electronics to articulation the Hedera Governing Council.

Just implicit a twelvemonth ago, helium founded Immutable Holdings, a blockchain absorption institution which present operates with implicit $80 cardinal successful assets nether absorption (AUM) and holds the ambition of “democratizing entree to blockchain technology.”

Citing the prohibitive entree of galore accepted markets whereby accredited investors run successful walled-garden superior raises, Fried defined that his imaginativeness for Immutable Holdings is to facilitate greater accessibility for retail participants, coupled with an aspiration to standard the concern into the Berkshire Hathaway of the blockchain industry.

On Sept. 28, Immutable Holdings became publically tradable connected the NEO Canadian banal speech nether the ticker HOLD, and presently registers a worth of CAD$1.35.

Early successful the conversation, Fried expressed a bold prediction — which echoed Coinbase CEO Brian Armstrong’s comment successful a caller speech regarding the platform’s NFT marketplace motorboat — that NFT’s person demonstrated the fiscal imaginable to eclipse the worth of crypto assets successful the coming years.

“Everything that we ain successful the carnal verse and metaverse is going to beryllium represented successful the signifier of an NFT. So, if you were to sum that aggregate value, it volition apt beryllium overmuch much than the $1.9 trillion worthy of coins that are circulating connected CMC today.”

Consistently publicising his avidity to emulate the successes of Warren Buffett, Fried recognized his bequest concern prowess, but candidly criticized his deficiency of receptiveness towards technological evolution, stating:

“No disrespect to the oracle of Omaha, but that antheral has missed each azygous technological question of his lifetime. He is 1 of the champion investors of our generation, but erstwhile it comes to Bitcoin and blockchain, helium conscionable hasn’t spent capable clip with it.”

Fried’s latest venture, NFT.com is simply a decentralized level for creators, artists and collectors to commercialized and administer worth of NFTs, prosecute successful integer discourse, arsenic good arsenic run and enactment successful a community-governed ecosystem – Fried adjacent thinks of himself not arsenic NFT.com’s CEO but arsenic its ‘chief decentralization officer’.

Commencing with an inaugural NFT release, the level volition include: illustration sanction NFTs and a web3 societal network, a cross-chain information hub consisting of rankings, leaderboards and information statistic connected a litany of NFT collections — akin to a CoinMarketCap of NFTs — and a peer-to-peer marketplace.

Collectively, these services volition question to enactment the overarching ambition of becoming a afloat broad office for all-things nonfungible.

If you’re not portion of a DAO close present don’t worry; by this clip adjacent twelvemonth you volition be.

— Jordan Fried (nft.com ) (@jordanfried) December 17, 2021

As an entrepreneur who has thrived during the erstwhile 2 iterations of the web, Fried places important accent connected the imaginable for Web3 to “rearchitect the internet” done the concerted enactment of blockchain-powered DAOs, which helium believes are two-to-three years down the curve of NFTs successful presumption of user designation and engagement.

“We privation to decentralize NFT.com implicit clip by inviting the assemblage to go leaders – wherever it’s the assemblage of creators, artists and users who volition assistance signifier the aboriginal of the platform.”

Related: Coinbase announces beta of NFT marketplace with societal engagement

A flurry of caller appointments, including Jeanna Liu arsenic Chief Operating Officer to Immutable Holdings, and Balaji Srinivasan arsenic a Strategic Advisor to NFT.com, were sought to fortify the team’s expertise.

Pre-existing partners of NFT.com see Shark Tank tycoon, Kevin O'Leary and Snoop Dog nether his NFT pseudonym, Cozomo de’ Medici, and Logan and Jake Paul, among others.

.@Hedera is simply a Top 10 network. It's lone a substance of time.

— Jordan Fried (nft.com ) (@jordanfried) May 14, 2021

When questioned whether the level volition beryllium built upon Hedera, arsenic galore assemblage participants person rumoured owed to his contiguous narration to the network, Fried declared that portion his imaginativeness is for a multi-protocol world, helium exclusively revealed that “we are launching archetypal and foremost connected the Ethereum web due to the fact that there’s implicit 200 cardinal accounts, and that’s wherever users are.”

“The mode that we’ll govern NFT.com is done genesis cardinal holders, truthful if you person a favourite NFT protocol, the champion mode to guarantee that it gets integrated is to [acquire] a genesis cardinal and ballot connected which protocols we should see integrating with.”

Despite the idiosyncratic profiles and genesis keys existing connected Ethereum, the Hedera statement work was implemented to guarantee fairness and heighten traceability of the illustration minting process.

Asserting the value of supporting NFTs wherever they beryllium successful Web3, helium speculated that Hedera, Solana, and Polkadot could beryllium destined for aboriginal integrations based upon their popularity, arsenic good arsenic disclosing his ain intentions to deploy his azygous ballot for the inclusion of Hedera successful antiauthoritarian snapshot proposals.

“I truly privation your NFT.com illustration to beryllium your code successful a integer satellite wherever radical tin travel and sojourn you. It’s a destination, your web3 homeplace, a metaphysical acquisition wherever the carnal verse and metaverse collide.”