Making the Web3 Space More Safe: An Interview with the NFT Advisor Justice

By June 4, 2023Metaverse
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In this article, Justus, a Web3 enthusiast and NFT expert, shares his journey from cryptocurrency trading to NFT creation. He reflects on the evolution of the NFT market and discusses the potential for broader application and future challenges in the space.

Can you tell us about yourself & how you got started in the NFT space?

My name is Justus, and I have been involved in the Web3 space for a little over three years now. Initially, my focus was on investing and trading in cryptocurrencies exclusively. I continued this for a little more than a year until the rise of NFTs. During the initial phase, we witnessed almost every project achieving success.

This encouraged me to venture into creating my own NFT project called "Dancing Deer Disco," despite having limited knowledge in this area. Despite investing a significant amount of money and time into it, I found myself with around 3-4k followers but lacking the desired level of hype.

Consequently, I made the decision to postpone the project launch and dedicated myself to learning more about NFTs. Simultaneously, I began sharing my learning experiences on Twitter. Through this process, I gradually grew my following. Over time, I started engaging in marketing and promotional activities for NFT projects as well.

It has been nearly two years since then, and I have organically grown my community to the point where I now engage in various promotional and marketing endeavors.

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How has the NFT market evolved since you first became involved, & where do you see it heading in the next five years?

The NFT market has evolved significantly in the past two years. It has become more mainstream, with celebrities, artists, and companies embracing NFTs for digital ownership and monetization. The use cases have expanded beyond art and collectibles to include music, gaming, virtual real estate, and even real-world assets.

The infrastructure supporting NFTs has improved, making it easier for creators and collectors to participate. In the next five years, I expect increased regulation, integration of NFTs with physical assets, improved interoperability, continued innovation in use cases, and greater accessibility for a wider audience.

The NFT market will continue to grow and evolve, driven by new opportunities and advancements in technology.

Many people have achieved significant returns on investment in the NFT market. What trends or patterns have you observed in the most successful transactions, & how can aspiring investors emulate these?

Based on what I've seen, successful NFT transactions focus on important factors. Doing thorough research is essential to understand the market and projects before making smart choices. Looking for NFTs that are rare and unique adds value and gets people interested. Investing in well-known creators and brands helps build trust.

"Engaging with communities actively leads to growth & opportunities."

Timing your investments strategically, based on market trends, can be beneficial. Lastly, diversifying your investments across different projects helps lower risks. By considering these factors, aspiring investors can improve their chances of achieving success in the NFT market.

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NFTs aren't just about digital art. What other sectors do you see ripe for monetization through NFTs & why?

Beyond digital art, there are several sectors with great potential for monetization through NFTs. Collectibles, such as sports memorabilia and virtual assets in video games, offer unique and tradable digital items. Virtual real estate in metaverses presents opportunities for ownership and trading.

NFTs can revolutionize the music industry by enabling direct artist-fan interactions and transparent royalty distribution. Intellectual property and licensing can benefit from NFTs, facilitating management and monetization of creative assets. Finally, event tickets and experiences can be tokenized, providing secure ownership and unique access.

These sectors offer diverse avenues for NFT monetization, leveraging blockchain technology for authenticity and value.

What are the biggest challenges in the Web3 space & how do you work with solving these?

For me the biggest challenge in the Web3 space is to make it more safe for everyone. At the moment there are too many scammers active. My goal is to help people and mainly help projects avoid getting scammed. We should all stand for this and make the space less available for scammers.

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