Korea NFT Projects Should Embrace Community To Build Success, Says BigONE Exchange’s Anndy Lian

Korea NFT Projects Should Embrace Community To Build Success, Says BigONE Exchange’s Anndy Lian

Speaking at the 1st Korea Blockchain Conference (KBCC) on February 15, 2022, the Chairman of BigONE Exchange Anndy Lian underlined the importance of a powerful online community to securing the success of any NFT project.

 

As well as the obvious boom in NFT artwork, and in Korea the use of NFTs to promote K-pop, Lian said the growth in the use of NFTs to connect fans and artists through all-access type membership was notable: “Whether it’s to get closer to your favorite UFC fighter or singer these are hot trends in the market right now driven by the power of community.”

 

Another form of community where we are going to see the growth of NFTs is around meme coins, he added: “That kind of utility is really powerful because they have the community backing them you know, so they will have the benefit of starting their NFT project with a few hundred thousand users right at the start.” It was for this reason, due to the strength of their community, that Lian added that he saw these big communities as personally worth investing in.

 

In terms of Korea’s leading role in blockchain innovation Lian told the panel audience that from his experience, talking with corporations such as Samsung and Hyundai, as well as senior Government officials, the key players are all very mindful of the importance of blockchain technology for the country’s future. “It’s not simply about creating decentralized data storage but how this technology will be embedded in our lives, enabling the automation of all aspects of the economy for the benefit of all citizens.”

The panel titled ‘Blockchain Technology, Innovation And Opportunity’ was led by Jenny Zheng (Bybit, NFT BD Lead), Anndy Lian (BigONE Exchange, Chairman), Davy Goh (Passion VC, CEO), and Joe Lu (Origin Storage, Partner), and Hwang Byung-sun (Big Bang Angels, CEO).

The event’s opening session was given by HS88 Chairman Kim Ho-seong. The session ended with a speech by Won Hee-ryong, a member of the People’s Power, and Lee Sang-ki, the Korean representative of the World Blockchain Organization (WBO).

KBCC was designed to help the growth and development of the blockchain industry. The event aims to let the South Korean audiences know more about the technology by bringing foreign experts to share their experience.

About BigONE Exchange

 

BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development. Further information here.

 

Contact:

Name: Linda

Email: [email protected]

Website: www.big.one

 

 

 

Original Source: https://www.marketwatch.com/press-release/korea-nft-projects-should-embrace-community-to-build-success-says-bigone-exchanges-anndy-lian-2022-03-07

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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New NFTs Need To Build Community To Succeed, Says Head of Crypto Exchange

New NFTs Need To Build Community To Succeed, Says Head of Crypto Exchange

Speaking at the 14th World Blockchain Summit MARVELS, the Chairman of BigONE Exchange Anndy Lian said that key to success for NFT startups was a supportive community and a compelling user case. As a guest speaker at the event on February 22, under the theme of ‘NFT META Korea 2022’, Lian agreed that the global market for NFTs was very active currently but wanted to share his experience in how NFT projects can be successful in the longer run.

 

“While NFT creation looks straightforward the true essence of the NFT, the true value comes from community, as well as the technology and the tokenomics. If you are looking to launch a NFT studio, and you wish to partner with our partners, it could be with a meme coin community with Shiba Inu, Kishu Inu, or XRdoge, as all these projects have a very big community behind them; if you need that kind of partnership to succeed in the global market then we can help you,” Lian told his audience at the Seoul event.

 

The market in NFTs boomed in 2021, with total sales globally totaling $25 billion, up from just $94.9 million the year before, according to DappRadar. “Not surprisingly social media is awash with tales of get rich quick NFT success, from CryptoPunks to Bored Apes, and everything in between, but the fascination with digital art is going to change in 2022, with more use cases around utility. Clearly NFT projects need to be as transparent as possible when creating their offerings and grow a viable community as they progress, said Lian

 

One key factor that should be with a team from the outset is to ensure the NFT has utility, which is closely tied to the importance of community. At its core of course NFTs are a great way for creators and artists to contact directly with their fans, with their community. And that’s probably the most compelling use case to date that’s going to sustain the growth of NFTs into the future, Lian added.

 

Lian illustrated for the audience the importance of getting this relationship between the NFT and its community, between creators and fans, with the example of starting a NFT around a well-known soccer player. While on paper the fans of a soccer player appear to be automatically part of the NFT community you are building, that isn’t necessarily the case. What is needed is a strong bond to be created between the fans and the soccer star and the platform for it to work. This was related to the importance of ensuring that when you see a new project in the NFT space you should as an investor consider whether it has utility.

 

Lian added that for NFT creators it was important to be transparent about their offering to investors, not only to better convey its value, but also to ensure that when regulators start to enter the space in 2022 the quality of the NFT industry stands up to scrutiny.

 

Oh Myung, former Deputy Prime Minister and Minister of Science and Technology; Oh Se-hoon, Mayor of Seoul City; Lee Won-Wook, National Assemblyman and Minister of Land, Infrastructure, and Transport; Cho Myung-hee, chairman of the National Assembly and the Special Committee for Future Industry Jobs; Yoon Chang-Hyun, chairman of the Special Committee for Virtual Assets; and Yang Jung-sook, a member of the National Assembly and the Korea Communications Commission delivered speeches opening the conference.

 

About BigONE Exchange

 

BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development. Further information here.

 

 

 

Original Source: https://www.asiaone.com/business/new-nfts-need-build-community-succeed-says-head-crypto-exchange

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Keynote speech by Anndy Lian: Understand DeFi to Build Regulatory Frameworks Around it

Keynote speech by Anndy Lian: Understand DeFi to Build Regulatory Frameworks Around it

Decentralized Finance (DeFi) is still in rapid growth. According to a report from CoinGecko, the industry has reached a $100 billion capitalization and over one million users. Global DeFi Investment Summit, 2-3 June 2021, Dubai brought experts globally together. Anndy Lian, Advisory Board Member to Hyundai DAC and also Chief Digital Advisor to Mongolian Productivity Organization gave a keynote presentation titled “Understand DeFi to Build Regulatory Frameworks Around it”.

Anndy walked the audiences through the challenges of DeFi tokens. “In 2019, we were all experimenting. Then in 2020, we wonder if DeFi tokens have real value. But in 2021 onwards, we should look closely at them if they can survive the bear plunges, then survive the financial crisis and then a global crisis. This is a real test. This test is not for DeFi, it is for NFT, IDOs and the whole cryptocurrency space.”

Lian highlighted that the decentralized governance of DeFi services poses operational challenges and if often not well understood in the exposures in financial risks and compliance issues. DeFi’s landscape is ever-changing and it is tough for the traditional finance industry to keep up. The governments are also playing catch up.

“Regulators understand that it is hard to regulate DeFi DAPPS built on a fully public and decentralised blockchain and they do not trust “code is law” thesis, wherein law represents a set of rules that are written and enforced through immutable code as there are possibilities of errors and frauds. I have suggested to the governments to encourage participants in the DeFi Industry to have co-operative models to assume governance and liability of operating the platform. This also provides some guidance and protection to DeFi application users or investors. This is maybe an unpopular opinion to some but this could be one way to co-exist.” Anndy Lian said.

At the end of the keynote speech, he urges the regulators to take this time to shape expectations by working with the right parties, while taking enforcement action against bad actors.

Global DeFi Investment Summit is a 2-day Program being curated based on guidelines from industry experts, with a target of about 200+ delegates. The goal of this event is to connect global investors and DeFi experts in this space including emerging start-ups – with regional business and leaders from across key industry verticals. This event has also featured other keynote speakers like Justin Sun, Founder at TRON and Tim Draper, Founder at Draper Associates & DFJ.

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Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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