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Tokenomics And NFTs For Web 3.0: Dinis Guarda And Kendrick Wong, Co-Founder and Chairman of LiquidX
Tokenomics, NFTs, Web 3.0, Kendrick Wong, Kendrick Wong interview, LiquidX, Kendrick Wong LiquidX, interview, application games, anime, anime industry
28 Apr 2023
Dinis Guarda interviews Kendrick Wong, Co-Founder and Chairman of LiquidX, in the latest episode of the Dinis Guarda YouTube Podcast. They discuss the unique projects taken up by LiquidX, including the Japanese style of animation, Anime, and the utility of NFTs and tokens in the metaverse and Web 3.0 space. The podcast is powered by citiesabc, openbusinesscouncil, fashionabc, and sportsabc.
Anime, the Japanese style of animation, has become a global phenomenon over the past few decades. With its unique art style, complex storylines, and engaging characters, anime has captured the hearts of viewers all around the world. And Kendrick Wong, the latest guest in the Dinis Guarda YouTube Podcast Series, has taken that concept and translated it into NFTs in the metaverse.
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NFTs and Anime in a Metaverse Web 3.0
The emergence of Non-Fungible Tokens, or NFTs, has brought a new dimension to the digital world. NFTs allow for the ownership and verification of digital assets, making them a valuable tool for creators, collectors, and investors alike.
Kendrick told Dinis that the world is still in the nascent stages of adoption of Web 3.0. So, while the majority of the audience is still using Web 2.0, forcing them into Web 3.0 space would be a challenge. "This core audience would not really understand the nuances of IP, and a sudden change can disrupt the community or the fan base", he said.
However, NFTs also have the potential to act as a bridge between Web 2.0 and Web 3.0, bringing the benefits of decentralisation and blockchain technology to the current internet infrastructure.
NFTs have the potential to act as a bridge between these two worlds. By leveraging the benefits of blockchain technology, NFTs can bring the security and verifiability of Web 3.0 to the digital assets of Web 2.0. This includes everything from digital art and music to social media profiles and gaming assets.
Kendrick told Dinis that through its platform, Anime Metaverse, LiquidX is licensing IPs that are known globally, for instance Serial Experiment Lain, an iconic anime in Japan. By selling merchandise related to these IPs and linking it with a token, they are bridging their Web 2.0 community to Web 3.0.
Anime In The Metaverse
The anime industry's global market size reached USD 28.61 billion in 2022, with an expected Compound Annual Growth Rate (CAGR) of 9.8% from 2023 to 2030. The growing popularity and sales of Japanese anime content across the world are predicted to be the driving forces behind market expansion in the coming years. Further, significant revenue generation is expected from global sales of anime content and merchandise.
Internet distribution and application games are also anticipated to play a crucial role in boosting market growth, especially in overseas sales in Japan. Highlighting about LiquidX's role in the anime industry, Kendrick told Dinis:
"Anime is a very interesting industry. If you look at the top 10 companies, you will see that atleast 4-6 IPs are Japanese. However, the biggest challenge is that the Japanese IPs struggle to expand globally because the distribution is not widespread. We license these IPs and help them expand their reach."
Tokenomics: A unique way to incentivise the users
Another important aspect of the metaverse Web3 is the implementation of blockchain and an internal economic system. Tokenomics is not just about creating a token; it is about designing a system that provides value to its users. The main objective of tokenomics is to incentivize users to participate in the network, contribute to its growth, and increase the value of the token. Tokens are used as a means of exchange, store of value, and as a way to participate in a network's governance.
"Tokenomics is simply an economic model", pointed out Kendrick. "Like every country has its own fiat currency, every digital ecosystem has its own tokenomics", he said.
Tokenomics is a unique way to incentivize users and create value within a network. By designing a system that rewards users for participating in the network's activities, it creates a self-sustaining ecosystem that can drive up the value of the token.
"Each ecosystem carries out some action points that benefit both themselves and the users. Everything else that comes along with it, like animation, is a bonus. The main objective is to create a self-sustaining economy that enables the user to have a better experience in the ecosystem", he explained to Dinis.
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4IR: AI Blockchain Fintech IoT Reinventing a Nation by Dinis Guarda and Rais Hussin (4irbook.com)
Dinis Guarda citiesabc openbusinesscouncil Series is also available as podcast on:
Apple Podcasts: https://podcasts.apple.com/us/podcast/dinis-guarda-citiesabc-openbusinesscouncil-series/id1510330391
On Spotify: https://open.spotify.com/show/1vA8KaDaRpJ0mAfpNbfTSF?si=H_WngL4RSOyu1W7VAmM41w&dl_branch=1
Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xMDMyMzg4LnJzcw==
Amazon Music: https://music.amazon.com/podcasts/953a5156-823c-4e86-baeb-4fda1128e44c/DINIS-GUARDA-CITIESABC-OPENBUSINESSCOUNCIL-SERIES
