Justin Kan, the co-founder of Twitch, explained in an interview the reasons why he got into the field of NFT investing. He also set out the reasons why he thinks this sector will grow considerably in the years to come. “Gaming is likely to be the central reason why many people will become attached to a durable digital asset.”
A new way to invest in technology
Like most people, Justin Kan hadn’t heard of NFTs until the year 2017. That year, a friend of his convinced him to support his NFT startup by making an investment. This investment ultimately proved to be the first door crossed by the co-creator of Twitch to enter the world of NFTs. The project, however, did not come to fruition.
Although his friend’s project ended in failure, Kan ventured further into the world of NFTs to collect them. It is in this context that he created a new project called Fractal. In the game, players can get NFTs created in collaboration with blockchain gaming companies. Also, the game features a resell market where players can buy and sell NFT coins.
When asked about the added value of NFTs for traditional and institutional investors, Kan replies: “This is a new market with quite a high variance. If you think these digital assets are going to become a reality, this is a high alpha place to invest, as it is a new market that is being created. It’s a bit like investing in tech stocks 15 years ago, isn’t it? » Then he adds: “It’s a new way to bet on software technology.”
“I invested because he is a friend”
Kan’s beginnings in the NFT world were rather humble. During the interview, he explained that his friend’s project was to launch a platform that would compete with OpenSea. “You should invest in my startup”, his friend told him. But he didn’t understand what it was about.
“You can just store any data on a blockchain. And then you can create a unique token that represents anything you want. It can be an image or piece of media, or it can be representative of something in the real world. I had no idea what it was all about, but I figured my friend is very smart and he wouldn’t get me into anything wrong.” That’s when Kan has officially launched.
Admittedly, his friend’s project failed, but does Kan regret his investment? Not at all ! “People now recognize NFTs as stores of value, I’m really proud of that”, he said.
For the Twitch co-founder, investing in NFTs is a good move. He came to this conclusion after having himself invested in the startup project of a friend of his. The project did not succeed, but the fact remains that he is happy to have made this investment.
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.