COO of Wall says NFT is something of a Superverse that sits above other social networks and communities
499Block：So now our ama will officially start. Before that, we ask @Amarnathjv to make a short self-introduction, and how @Amarnathjv got into the blockchain?
Amarnath Jayanti：Alright. I am from India. After my engineering and MBA I got into the world of corporate jobs by working for one of the biggest Banks in India. Soon realized something was wrong with the banking system. I started my first startup which was into In-taxi entertainment and Taxi-top advertisement. This was also the first time I heard Bitcoin.
Later got into VR and then eventually became a blockchain entrepreneur in 2017 when a group of friends got together and started building privacy products. I was one of the core team of Sentinel.co That is how I started my journey in blockchain.
499Block：That was Impressive experience, great, then let’s start today’s theme about project Wall. What is the problem you are solving?
Amarnath Jayanti：Discovery of Web3 communities. As we all know, from late last year, NFTs Social Tokens and DAOs are all the rage. But then its only been one year and there are so many projects in the space. One commonality between all these are they are community first.
A crypto punk is valued very high because of its community not because of the art. We realised in web3.0 the social graph being created between individuals and communities. Unlike current social media platforms which are exploring social graphs between individuals and individual
499Block：Why are you the right team to solve it？
Amarnath Jayanti：Me and my co-founder are NFT first in our thinking. Our team comprises of people who have experience in building social platforms in different domains. Data being the center piece of this platform, we have a strong background in that area.
499Block：How this project will evolve in the future?
Amarnath Jayanti：Great question.
We want to be the social platform for web3.0 while ensuring we are following the first principles of decentralization.
Discovery : Find new communities to be a part of based on activity and people following.
Identity : Decentralized identity and owning all the interactions (like share comment etc)
Assets : You own your media and assets.
Composability : When you choose to leave this platform and enter any other metaverse, you dont start from scratch but carry all the clout along.
Integrations : Just like when someone uses a SaaS platform like Notion or Slack, having integrations to existing applications will aggregate most of the lego blocks that people interface with
499Block：Could you talk about how you are doing about identity?
Amarnath Jayanti：Sure thing.
Currently we are looking to integrate withsome of the available solutions for identity.
are some of the solutions we areconsidering.
These give the capability to replacecentralized user tables with a decentralized alternative and link multipleblockchain, web3, and social network accounts to the same user identity. I can also mention some of the advantages in long term of having identity.
499Block：What about consumer behaviour around NFTs, Social tokens and DAOs？
Amarnath Jayanti：Web3 assets largely are divided into two sets.
1. Financial assets (Buy some coins and stake it)
2. Social assets (NFTs, Social tokens and DAOs)
The first are things people want to keep it private and not talk about them to everyone.
The second are predominently for social behaviour purposes. They are badges of honor.
The thesis is simple
People are status-seeking
People seek out the most efficient path tomaximizing social capital
This drives a behaviour which is unique tobuying just tokens on an exchange.
499Block：What do you see the future of NFTs?
Amarnath Jayanti：NFTs will clearly play a role in the Metaverse. When everything is digital, proving that you own something and being able to bring it with you across the internet will be key. But this isn’t a Metaverse piece. It’s a social network piece.
NFTs are starting to feel a lot like a new kind of social network that sits above other social networks and communities — something of a Superverse.
499Block：Great, now we have the last official question of the day. What is Wall Labs you are building? What is unique about it?
Amarnath Jayanti：Coming from a region that is abundant with creative capital, we are experimenting with a lot of IP and extremely talented artists to make sure they have a global stage to showcase their work.
Wall labs is going to drop NFT collections, launch social tokens and DAOs based on the requirement, usecase. We will choose a chain, build community and ensure its a success.
499Block：Look forward to more updates of the Wall Labs in the future! Thanks to @Amarnathjv for sharing