Digital Prathik, creator, founder and operator at JorrParivar considers that Web3.0 is still in development and has much more to offer
Creator, founder and operator of Jorr Parivar, Digital Pratik, aka Pratiksinh Chudasma, talk to CXOToday about his journey of influence leading the nation’s first-ever NFT community. His views on how the Metaverse will be the new cutting-edge tool for assessing the commercial economy are also highlighted in the interview.
- How was your journey as an influencer and now founder of JorrParivar?
I think I’ve always been an “influencer” and not just an influencer. However, being an influencer has been a rich journey for me. It taught me to be more patient and compassionate with others while working towards our goals. It doesn’t matter if I was a call center employee, an influencer and now the founder of JorrParivar – consistency, realism to situations, fulfillment of dreams and authenticity in everything I have put my heart have always been the cornerstones of my journey. In fact, no matter how hard I try, my goal is always to live as the best version of myself and lead a JorrDaar life!
- Could you please clarify the purpose of JorrParrivar and the community as a whole? Would you like to highlight some of your groundbreaking work?
To begin with, it all started when Digital Pratik bought their 1st huge NFT called MACRO MICRO Veefriends on May 12, 2021, for 1.55 ETH while the Ethereum price was $3811.29/ETH
I was deeply inspired by Veefriends, which is a Garyvee project featuring around 250 characters drawn by him. And from that day, with the aim of creating a project like Veefriends in India, I started to research and study Defi, the NFT space, and deeply develop “smart contracts”. After experiencing many setbacks and roadblocks, our team finally ran the project with 22 IPs!
These 22 characters were designed to revolve around the ethics and principles that I have lived my entire life. It’s about utility and access – the three types of tokens have different levels of access and activity. With these tokens, I serve my Parivar through exclusive training, workshops, monthly Zoom calls, Q&As, dinner meetings and more. Essentially, they are a key to unlocking the phygital realm of Digital Pratik.
Recently, we also held the “JorrDaar Event” which was also the very first IRL event with NFT ticket in India. Influencers like Raj Shamani, Suhani Shah, Vishaka Singh, Varun Mayya, Shashank Uduppa and more than 300 people gathered under one roof for several activities, Q&A sessions and panel discussions on NFTs and Web3.
3. Metaverse has conquered the business economy. How will a content creator use the new-age tool for better storytelling?
I think Metaverse is not that kind of consumer product yet. What I mean is, I’m still not comfortable spending more than an hour in the virtual world of Oculus and that too, maybe once a month. When we created a JorrPark using a virtual world tool, our hodlers only enjoyed it for one day, and now they can’t remember. My answer would be different a few years later – maybe in 2027.
Currently, for more effective storytelling, it is crucial to develop your brand’s IP, register it with the Indian government like we did with our 22 JorrParivar IPs, and then use Web2 (social media) in combination with Web3 (NFT).
However, this is just one person’s perspective, and even that can vary from project to project, vision to vision, and roadmap to roadmap. .
4. A recent report from Accenture indicates that only a few companies are using AI which is gaining traction. What is your opinion on the same?
No comments, as I haven’t experimented much with AI for my businesses yet. I believe in sharing opinions only when I learn and practically apply concepts to my business or my client’s business.
5. With many new era tools, there might be a chance to face the cyber security challenges on an opposite aspect that needs to be considered. What is your view of the subject?
From WiFi and Bluetooth hacking to online privacy and social media phishing, concerns about computer security and safety in cyberspace have always been a constant with the evolution of new technologies.
Meanwhile, Web3 is still in development and in its early stages of acceptance. That’s why I think we’re likely to face cybersecurity issues in the Web3 space when it comes to moving consumer-centric products. The fact is, as technology evolves, cybersecurity issues will always arise, and we need to be on our guard and take precautions against them.
6. According to market analysis, what is the next big thing in Fintech
I firmly believe that non-fungible tokens (NFTs) are the next big thing in the FinTech space. These NFTs are more than just images on the blockchain. They represent digital ownership because they provide proof and assurance of immutable ownership records on a decentralized blockchain ledger, ensuring that central owners cannot take them from you or tamper with their history.
People could exchange their NFTs for real money and use Defi lending/staking sites. In case of inability to repay the loan, the NFT will be automatically transferred to the lender, which can be a well-known Fintech company. Moreover, thanks to smart contracts, everything will be transparent on the blockchain without any intermediary.
However, blockchain technology presents an intriguing solution to two problems with conventional lending and has the potential to change lending practices. First, it is difficult for crypto asset owners to obtain traditional loans, as banks and other financial institutions struggle to assess the value of digital currencies. Second, in exchange for giving customers instant access to money without forcing them to sell their cryptocurrency first, lenders demand interest rates far higher than those that might be found on lending platforms. online staff.
- Have you noticed an industry trend that will revolutionize the entire business economy in a few years?
The next significant development in the industry will be consumer blockchain. Consumer blockchain has the power to change how marketers collect and use data, as well as how they interact with customers using NFTs.
The use of NFTs in loyalty programs is one of its most immediate applications. And this can be improved in various ways for NFT owners and brands. For example, a brand can establish a smart contract inside NFTs where they can get a 10% royalty on each secondary sale of those NFTs. Moreover, these loyalty programs are not limited to brands – digital marketing, instructor, real estate brokers and digital artists, among others, can also benefit.
Because NFTs are just another method of Internet branding and marketing.