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#15 Web3 Rewards Platform and Token Gating with Jenil from Coinvise
79 Plays2 years ago
Jenil is the CEO of on-chain rewards platform Coinvise. He got into crypto during his sophomore years, after delving into research on algorithms such as Byzantine Fault Tolerance.
After working on an Airdrop tool, Jenil wanted to make it possible for people to airdrop tokens via a simply UI interface, without having to know how to code. This was the initial idea behind Coinvise, before developing into an ecosystem of tools designed to help users handle and mange on chain-rewards.
Coinvise is platform designed to empower creators, communities, and platforms to easily create and manage their own tokens and NFTs, facilitating unique ways to engage with and reward their audiences. The platform supports a myriad of actions, including social media interactions, content creation, and participation in events, enabling users to earn rewards in the form of tokens or NFTs. This ecosystem not only nurtures loyalty and engagement but also opens up new avenues for monetization and community building.
Features and Innovations
Coinvise offers tools for executing airdrops and creating claim pages, allowing for the distribution of tokens or NFTs to community members based on their contributions or engagement. This feature supports a wide range of on-chain and off-chain actions, providing flexibility in how rewards are allocated.
What I thought was particularly interesting is the integration with various social media tools such as Twitter and Farcaster, where you can reword users that have completed certain actions on a social media network.
With support for multiple EVM-compatible chains and plans to expand to networks like Solana, Coinvise is positioning itself as a versatile tool adaptable to the evolving blockchain landscape.
Looking ahead, Coinvise aims to introduce new features, expand its cross-chain capabilities, and explore innovative use cases for tokens and NFTs.
This podcast is fueled by Aesir, an Algorithmic cryptocurrency Trading Platform that I helped develop over the last 2 years that offers a unique set of features.
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Transcript
Can NFTs signal loyalty and unlock perks?
00:00:00
Speaker
They're really good use cases for utilizing and token getting or like availing discounts or availing different kinds of perks and benefits. So I think NFTs itself are like the status thing sometimes, or they're like signaling loyalty, or they usually have the utility of unlocking some perks or discounts.
00:00:30
Speaker
Hello and welcome to Proof of Talk, the cryptocurrency podcast where we invite leaders and builders into the space to come on and talk about their experience in the industry as well as the projects and products that they've been building.
Introducing 'Proof of Talk' with Andre and General
00:00:41
Speaker
My name is Andre and I've been in the cryptocurrency space since 2017. I've also helped co-found algorithmic crypto trading platform ACR that enables users to quickly and easily automate their trades while managing the risk. I'm here today with General who is the co-founder of Coinvice. Lovely to have you, man. How are you doing?
00:00:59
Speaker
I'm doing fantastic. Thanks for having me.
AI video content: Future entertainment and tech
00:01:03
Speaker
Have you seen the Sora AI videos? Yeah, I just saw they look incredible. They're just nuts. I think if you look at the previous Will Smith video, it has gotten so much better.
00:01:20
Speaker
Yeah. You look at him eating that pasta back in 2023 and he's just like an amalgamation of like this kind of deep dreaming that Google used to do back in the day. You had some footage of that and you look at the footage today and it's absolutely wild. Like that's just nuts how much that technology has evolved in one year. I just wonder where, where it's going to go in terms of like entertainment and stuff. Like are we going to see it in films or video games or VR or stuff like that?
00:01:50
Speaker
Yeah, it's going to be a very interesting time. Now that content is going to be generated. So in such a convincing way, and it's going to create in the next two to five years, create this entire market of creators that are monetizing unique ways, create content in unique ways. And you can't distinguish whether it's real or AI generated.
Real-time AI video in gaming
00:02:16
Speaker
Oh yeah and I think it's also gonna change the way we approach peripherals or like graphics cards and processors right now because it seems like we're gonna have AI in everything and it seems that we're gonna need to have some kind of
00:02:31
Speaker
Different architecture like Apple's already kind of doing that with their silicones They have neural see neural chips as well on their GPUs their solar don't CPUs as well It seems like we're gonna be moving in that direction because if we're talking about generated AI generated content
00:02:47
Speaker
the next step I guess would just be real time generation of video content so that you could play a kind of like a procedurally generated game with graphics that are just AI generated in real time. I don't know based on prompts or based on things you imagine or it's just a wild
Future living: VR, AI, and custom realities
00:03:05
Speaker
time. I've been reading about this all day. I saw some of the videos and I'm just really excited and like mind blown about how good this is and how good it's gonna get one year from now.
00:03:15
Speaker
Yeah, I am like really excited to see like intersection and growth of like Apple Vision Pro and Sora and like this year is coming off like really strong.
00:03:28
Speaker
Oh yeah. But if you have VR and then Sora or some kind of other advanced AI video generating model, and then you have neural inputs, like you're not even going to leave your
Bitcoin's silent bullish trend
00:03:42
Speaker
house. You're just going to live in your own little like custom made reality with sensory inputs and stuff. It's just, it's crazy that we're, it's 2024. We're talking about it. It's just nuts.
00:03:52
Speaker
I feel like our attention was the first thing that the internet started capitalizing on. And now it's expanded into not just attention. It's like your senses in every possible way. And it's like watching an infinite TikTok video on VR. And it's going to be pretty interesting.
00:04:13
Speaker
Oh yeah, no, it's going to be wild. And it's an all year, like all around really strong year for tech in general, like cryptocurrencies being just silently bullish. Like Bitcoin broke $52,000 and
00:04:30
Speaker
people when when this happened the first time around like the previous bull market people were already like nuts over Bitcoin at this price point right now it seems to be business as usual you don't see the hype in the media you don't see any kind of the the crazy hype that used to be in the previous bull run which
00:04:50
Speaker
I think it's a good thing because it means that it's a more sustainable approach to this. It's not just being hyped the shit out of so that people go in and buy high and then eventually we end up in another bear market.
Farcaster: A Web3 social media platform
00:05:04
Speaker
It seems that because it's a silent accumulation, because it's silently bullish, it has more time to consolidate at that price without the hype.
00:05:14
Speaker
I agree with that. I mean, there is like a lot of hype right now moving towards like Farcaster and different like networks and degens that sort of moved there. There's also like people still like working with meme tokens and really getting excited about that. I've seen a lot of those happening as well. Like that hasn't stopped. NFT volumes have generally statistically gone quite a bit up.
00:05:41
Speaker
So we're seeing early signs of that. I think it's still going to be interesting because I do think like people have matured from like the last bear market, but still I think that excitement is like only rising. So we haven't seen like
00:05:58
Speaker
I guess like the full like unlock yet. We're seeing signs of that in like different use cases like Farcaster, but I'm excited to see like where, what other areas we see that again.
Coinvise and Farcaster integration
00:06:12
Speaker
And yeah, that's gonna be interesting.
00:06:14
Speaker
Are you on Farcaster? I am on Farcaster. I'm at G&O and we're working on launching an integration there. But yeah, generally speaking, we've seen a lot of interest in that ecosystem right now.
00:06:29
Speaker
Yeah, well, I've, it's popped up on my radar a couple of weeks ago, Farcaster as well. Um, so I did join and I've been active ever since, which is pretty cool. So I've just, yeah, at general, I'm going to give you a follow because, uh, I'm going to try and be active on there. I'm going to try and also kind of understand like Farcaster for me is so different from any kind of social media.
00:06:49
Speaker
It has these embeds of, you could literally mint stuff or interact with other applications straight from Farcaster. I've seen people put in email subscribe links for newsletter and stuff in Farcaster frames. It's such a cool kind of innovative, I feel, social media. It's made for Web3. It is. It definitely is. People have been using it for
00:07:14
Speaker
It's like really concentrated crypto group. It's like a water cooler discussion where like it's all about three people. And I think it is good because then you can have like a filtered opinion and network of people rather than on Twitter. It's a bunch of everything. And I think just as a distribution standpoint, that's a really smart way to be active there.
00:07:35
Speaker
So maybe this sounds stupid because I haven't actually done a lot of research on FarCaster, but do messages live on-chain? Is that what happens? Every post, does that actually live on-chain? Because I know you have clients for them. You have WarpCast, which is a client for FarCaster, but does the FarCaster data live on-chain directly?
00:07:57
Speaker
I think they store the proof of the data on chain and I'm not sure about messages but yeah, posts are the proof stay and they've abstracted away a lot of the UX around it so you really don't know. You're using it just like a regular social network like a client.
00:08:17
Speaker
Yeah, but it does because you can use our APIs to fetch that data and retrieve that from OpenSubgraph.
General's crypto journey and Coinvise founding
00:08:25
Speaker
So yeah, it does store the proof.
00:08:28
Speaker
That's wild. That's pretty cool. So you said you're working at Coinwise, you're working on an integration with Farcaster? Yeah, we're working on launching a frame for Coinwise on Farcaster. Hopefully we can announce that next week. And we're also working on one more integration with them. So at least that's how we're going to start, but we're going to do a lot of things there.
00:08:54
Speaker
Nice. So when you say next week, that would have most likely already happened because this is going to air after next week. So for anyone listening, that's probably already live and you should go check it out. Do you want to maybe give a little bit of an introduction of how you got into crypto in the first place?
00:09:18
Speaker
Yeah, I got into crypto back in 2016. I was a sophomore in college. I studied computer software engineering and I did a job as a research assistant on campus with one of my professors and we ended up working on researching
00:09:35
Speaker
the Byzantine fault tolerance algorithm, data management for IoT devices, and mining pool security. All three of those papers got published in IEEE journals. It's live online. You can look it up.
00:09:51
Speaker
And after graduating, I obviously spent three years during college on research. So I had some experience in understanding what crypto was like. So I started working as a software engineer at Zero Chain. I helped them build an integration with Ethereum.
00:10:09
Speaker
And I also worked on a bunch of side projects and hackathons during that time. So I got a bit of experience hacking myself.
Evolution of Coinvise for creators and communities
00:10:18
Speaker
And then later we realized that there's sort of like a market need and a sort of evolution where we started seeing communities and creators
00:10:27
Speaker
started forming and then we started Coinwise right about at the end of 2021, 2020. So that was like the trajectory before I started Coinwise. Obviously, there's a lot more that happened in between, but that's sort of how I got here.
00:10:46
Speaker
Right, so you were just researching algorithms and similar technologies in college and you've published your papers on the Byzantine fault tolerance algorithm. I think that is super relevant for crypto. I think it's being used in a lot of chains for governance and stuff. What exactly did you kind of research around the Byzantine fault tolerance?
00:11:10
Speaker
Yeah, so we ended up publishing a threshold based mechanism where we altered the algorithm and added a threshold so that it can prevent any DDoS attacks. And we ended up building a thesis around it and published that paper and.
00:11:30
Speaker
Yeah, we ended up publishing and explaining it at CES, I think 2020 or 2021 in Las Vegas. And that was pretty cool. That's cool. Is that being used anywhere now? Is the code on GitHub or anything? The code is on GitHub. The paper is online. You can find it online, but it's not being used anywhere. It was just like a great fun thing to do in college and
00:12:00
Speaker
Yeah, that's about it. That's cool, man. That's cool. So then obviously you got into Coinvise around, you said, founded that in 2020, 2021. So tell me a little bit about Coinvise. Yeah, so Coinvise started out as a platform where creators, communities, and platforms can create and distribute rewards for, you know,
00:12:24
Speaker
making any on-chain or off-chain contributions. So we started off with a tool called Airdrop, which was really popular for platforms to do to their most active users. And I wanted to launch it as a tool so that other people can use it without having the need to code. And I think what was interesting was
00:12:49
Speaker
We saw communities and DAOs starting using more airdrops more frequently. We also started seeing platforms using these kinds of tooling to acquire and engage their existing users with their token. They even started using NFTs as a reward for engagement purposes. We also saw pull-ups and different use cases like that.
00:13:09
Speaker
So we built a no-code tool where you can deploy a claim page, where you can reward tokens, NFTs, or any kind of currency for that matter, ETH, Matic, OP, Arbitrum, and for completing any on-chain action. So for creators, that was social actions like following on Forecaster, following on Twitter, following, subscribing to your YouTube channel, following on, you know,
00:13:37
Speaker
submitting an email address, subscribing on Mirror.
How creators monetize with Coinvise tools
00:13:41
Speaker
We published like a series of actions that they can use to have people engage with them and for engaging they get a reward. And that's all on the claim page. That's all on the claim page and it's all free to use for creators.
00:13:55
Speaker
Yeah, we did this for platforms as well, so you can use any custom action. So, for example, if they're a bridge or a swap company, DeFi company, they can have a bridge or a swap requirement where you have to bridge at least $50 to certain chain.
00:14:12
Speaker
using their app. So you can build any custom requirements too and we've built similar claim pages for ecosystems like Polygon and we've also built this for brands like CoinDesk and The Block. So a lot of interesting use cases came out of it and now we're live on all major networks and we're
00:14:31
Speaker
used as a growth tool for getting more people to join and engage and retain for your brand. So yeah, it's been incredible. It was live for about three years now.
00:14:48
Speaker
That's just like a pretty kick-ass tool. So how do you check the social proof that someone's done something on chain? I'm guessing you would have to associate their Twitter profile with their wallet address. So we can automatically check via their API already.
00:15:09
Speaker
Yeah, it's as simple as that. So we can check it internally, whether they follow you or not. And same thing for other actions as well. So I think we support Twitter, Lens, Farcaster, other apps. We also support like submitting an email because a lot of people want to build an email list. So we support that.
00:15:31
Speaker
Yeah, there's a bunch of other requirements. You can even incentivize them to collect NFTs on different platforms. Yeah, we build a bunch of interesting things there. That's pretty neat. I love the integration with the social aspect of it because it builds this trustless system. You trust that the person's actually doing what they're saying they're doing. Hey, I've retweeted, I've commented, I've subscribed to your email list.
00:16:01
Speaker
Then also puts the responsibility on the person running this to actually deliver It's not you know, I've seen on on Twitter like I'm not gonna call out names or anything But I've seen people promoting giveaways, but then they never give anything away Yeah, it's this is like a foolproof way of like, you know deploying a reward page or a claim page and
00:16:25
Speaker
where people can claim any kind of reward. If you don't have a token or anything, you can even do an NFT or a badge. And that's the best way to engage your users and build loyalty with your community and engage them. So I think that's really important now because having a good distribution and having a very active user base, active community is really important these days and especially in web3. So we built this out and a lot of people are really liking it.
00:16:54
Speaker
Yeah, yeah. So thinking about the kind of features that you offer, are those available through the visual interface? Yeah, it's completely no code. You don't need to know how to code. You can use our website by just connecting your wallet and get started almost immediately. You can go live within minutes.
00:17:15
Speaker
That's fantastic. So the claim page then, do I need a subdomain? Do I need to... You don't need a subdomain. You can just do it on our website. Okay.
Coinvise's revenue model from platform fees
00:17:25
Speaker
And it's going to be just like coinvice or myapp.coinvice or .com or something. It would be coinvice.co slash your username and slash, let's say,
00:17:38
Speaker
early member badge or whatever campaign you launch. You can launch as many campaigns as you like. We're in fact going to launch Protocol Rewards, which is splitting the fees with the creators themselves. So incentivizing creators of the campaigns to earn a share. So it's not just free to use, now you can monetize for using CoinMiz.
00:17:58
Speaker
That's neat. But if I wanted to have it on my own website, could I hook into with an API or something and use your guys tech that way? You absolutely can. Yeah.
00:18:13
Speaker
What kind of SDKs do you have? Or what kind of APIs? What way? Yeah, what kind of SDKs do you support? Yeah, so we support like an iframe. So if you have a WordPress site or if you have any website, you can just copy and paste the iframe. So again, no need to code. You can embed it to your own website. If you want to code, you can. We have documentation and API for you where you can integrate it. But the fastest way to is just directly embedded to your website. You can also like, you know,
00:18:41
Speaker
launch it as like on your like custom app we've had like people do that as well and yeah you can customize it in many many different ways.
00:18:55
Speaker
So I just wanted to go back to airdrops. You mentioned this was like the first thing you guys started offering. Obviously, I'm guessing it's airdrops for a big number of wallets. It's just bulk airdrop. That's kind of the feature behind it, right? And you can send one or multiple tokens. Is that right?
00:19:15
Speaker
Yeah, you can send like one token, multiple tokens to different people. And yeah, that was also like a similar use case where instead of like, you know, creating this claim page, you can also send it to directly to wallet addresses.
00:19:32
Speaker
That's cool. And it's all free and open source. Yeah, it's all free. It's all free to use. Campaigns is our hero product right now. And that's something like, like I said, it's a growth tool. So that's something we're like promoting right now. And we're completely focusing on it. We're actually now next week, hopefully launching protocol rewards. So really, really excited for that.
00:20:00
Speaker
Yeah, we have a bunch of other things in the works as well. That sounds exciting, man. So how do you guys then make money if
Coinvise partnerships with events and brands
00:20:09
Speaker
it's all open? We do have fees, we have platform fees. So whenever somebody comes to claim a reward, there's a 70, 80 cent fee, depending on which network you're on. So it's pretty inexpensive. But yeah, we earn from platform fees from the end user when they come to claim a reward.
00:20:29
Speaker
Okay, so when they claim a reward, they claim the reward minus the fee, the market that you're- Yeah, so if it's an NFT, they can claim the NFT as the reward and they have to pay like 80, 90 cents platform fee. And that's the same for tokens as well.
00:20:47
Speaker
OK, that's cool. I feel like that's a cool business model that works and is transparent. And I feel like it's a good way of doing it for sure. Yeah. And I saw that you guys have been endorsed by a few like quite big crypto companies and you have a few pretty big ones working with you. You mentioned Coindesk. You've built something for Coindesk. Is that right?
00:21:07
Speaker
Yeah, so we built these campaigns directly onto their website where they dropped desk tokens to people that participated. And they sort of helped us help use our entire tooling onto their own website. They hosted Consensus 2022 in Austin, Texas, where people visited the event in person, scanned QR codes, and claimed desk tokens for purchasing things, visiting booths, different activities at the event.
00:21:36
Speaker
They also got rewarded for, you know, reading articles on their website and answering quizzes, doing daily check-ins. We built the whole system for them from scratch. Oh, wow. Yeah. That sounds really cool. It was pretty awesome. I mean, we got like over 30,000 people participate. It was crazy.
00:21:56
Speaker
Damn. So scanning the QR codes, is that something like a pull up with you to basically get a pull up? Yeah. Yeah. Essentially you can scan a QR code. It'll lead you to the coin wise website, the claim page, and you would connect your wallet and claim the
Membership passes and token gating on Coinvise
00:22:09
Speaker
reward. Yeah.
00:22:10
Speaker
That's cool. So obviously, that goes into memberships and token gating, which are also features that I notice you support. What are some of the benefits of using Coinbase for memberships or for token gating? Yeah, so you can use it for memberships by, like I said, you can give out membership passes to early supporters, just as a reward for free.
00:22:35
Speaker
And you can also say that if you join our community, you can get this membership badge. We do have the ability to, like, you know, for the community to monetize, so they can say that you can purchase a membership pass for, let's say, a few dollars or whatever you want to price it at. But the better strategy usually has been
00:22:56
Speaker
you can give out the membership passes for free where you ask them to do some kind of activity where they can support you and then they can claim the membership badge and join your community. And I think that model has worked really well. So yeah, we do support memberships and we also have integrations with platforms where they offer memberships natively, for example, Org, which is a client on Lens Protocol. We have direct integration with them so you can have a membership badge there as well. That's sweet.
00:23:26
Speaker
Yeah. And token gating, you can gate obviously gating access to certain parts of a website or a page or something like that. Yeah. You can token gated directly your community on Discord using Guild or you can token gated your websites with, you know, in different ways. But once you distribute it, you can like, you know, figure out ways to like token gated on natively on apps. So we do have integrations with these apps where you can use that reward and token gated.
00:23:54
Speaker
Yeah. Right. That's super important, I feel, because you get a lot of complexity around token gating. You get a lot of like, hey, this is a super powerful feature to have, but you don't have a lot of integration. So like, because you offer integration with Discord and with other apps, I feel that makes token gating, like, takes you to a different level. Yeah.
00:24:17
Speaker
I was talking to this guy that has developed something called LoopPress, which is a token gating system on LoopRing, but specifically for WordPress websites. You can token gate parts of the website, pages of the website using this free and open source plugin.
00:24:38
Speaker
But it's just for, it's just for WordPress. So it's great if you happen to use loop ring and if you happen to be on WordPress. Um, but I feel, yeah, if you have something for a server or something else, then that kind of expands the possibility of it, which is a good thing. I haven't, I haven't actually thought about, I didn't even know you could token gate this course servers, which is pretty neat.
00:24:58
Speaker
Yeah, you can. It's pretty easy and it's seamless. Like I can even show you a demo on how it works. But yeah, usually like these token getting has been around for a really long time and we figured it out or we've created ways where it's completely seamless with coinlice.
00:25:15
Speaker
Right, what else can you TokenGate? So you can TokenGate in Google Forms, you can TokenGate in NotionDocs. This is all offered through a tool called Guild that we're integrated with. So they're a great way to TokenGate GitHub, Telegram, Discord. You can TokenGate on Farcaster now. You can TokenGate on Lens Protocol, like I said, ORB.
00:25:37
Speaker
So a lot of the social networks where you can token gate networks itself are people. I think that's where token getting is the most useful. But you can also token gate like actual data or actual information like Google Docs. But we've seen that most people use token getting for either memberships into the communities on Discord, Telegram.
00:25:58
Speaker
And we've seen it used as tickets for events where you use that as a ticket and then you can go to the event. So we've seen like those two as the top two like use cases. Okay. So that's events. If I want to join an event or if I've been to an event and then there's something post event that's happening. Yeah. If you want to join, yeah.
00:26:21
Speaker
Yeah, and what was the other use case? So the number one use case is joining Discord or joining a Telegram, like getting access to a private channel using that NFT or using tokens, anything.
00:26:36
Speaker
Okay, so you basically see crypto, NFT, Web3 companies, gating private servers, which kind of goes into the bigger question, why might one want to token gate something? Is token gating the best mechanism or what is the main benefit of token gating something?
00:27:01
Speaker
The main benefit of token getting something is like filtering and curating it for the people you like. Oftentimes it is like being in a network of like really high quality people is something a lot of people value. This is sort of why people go to conferences, people go to events, people go to like, you know, join certain communities online because they know that they're going to get to interact
00:27:28
Speaker
with like really high quality people and otherwise getting in touch with them is so hard. And getting them to respond or getting in touch with them even regardless is so difficult. So token getting and building a community where only certain people can join, it builds like this closed room where people can like-minded people can interact with each other without the
Technical details of Coinvise
00:27:49
Speaker
noise. So yeah.
00:27:50
Speaker
Right. Do you think it will move away or expand away from just NFTs and Web3 and just catch mainstream kind of adoption?
00:28:01
Speaker
I think it may or may not catch mainstream adoption. I think Webtree itself is such a big market where there's a lot of communities, like a single person can have multiple communities, a single company can have multiple communities. So the number of permutations and combinations a single wallet can make
00:28:23
Speaker
And, you know, number of communities can be spin up so quickly. Even there's like short term projects or memes that you form a community around a meme, and then you just go to the next meme in the next community. So I think that market itself is so huge that like building for them and sort of like that kind of a market is itself is like I think
00:28:44
Speaker
as good as mainstream in my opinion. So I feel like it will go mainstream eventually where crypto becomes more abstracted away and invisible. But for now itself, like there's so many use cases and so many interesting people online and so many communities that we haven't even heard of that are just built around like really simple, stupid concepts. So it's yeah. Yeah.
00:29:06
Speaker
Yeah. No, that's cool. And true. That's fair enough. I mean, you do see communities spun up every week or so. That's a new thing that comes out in crypto, which is nice to see. What are some of the technical aspects of Coinvise under the hood? Like, how do you guys do some of the things you do?
00:29:27
Speaker
Yeah, we have like smart contracts at the base of it that allows us to deploy these claim pages or rewards. And obviously we have other intricate details built into the contract itself, like fees and things like that. But essentially it's a way for any creator of the campaign to fully own the contract without a third party, including Coinwise.
00:29:54
Speaker
So we deploy a fresh new contract for every campaign that is fully owned by the creator. So that's like a really important piece. And again, we have like, we're fully composable. So we're integrated with 25 plus platforms and protocols, and we're live on 10 plus chains and networks. So I think
00:30:14
Speaker
those things make us really interoperable to be used by any ecosystem. And that's sort of like everything baked together into this platform under the hood. And we obviously spent like about over a year just perfecting the UX for the end user.
00:30:33
Speaker
When the end user goes to our website to claim a reward, we make sure that they have the best experience possible and the smoothest experience possible, and he spends so much time on it. So that's the overall technical, or at least the intention behind Coinwise and be able to achieve that, and we're continuously improving that day by day.
00:30:55
Speaker
Right. So if I got that right, you have a smart contract that gets deployed when any campaign gets created. And I'm guessing interacting with the UX kind of tells the smart contract the features that it should have and the way it should act. Yeah, exactly. And that's all Solidity, right? It's Solidity and on the front end we use TypeScript and Next.js.
00:31:16
Speaker
Oh, nice. Next.js. Interesting choice. That's pretty cool. Keeping up with the times. Nice. We have a view. We have a view app. So we use view. I've also used the Zveld for a couple of projects. I haven't used Next yet, but I am planning to pick it up at some point and kind of have a play around with it and see what it's like. That's awesome. Yeah. I mean, Next.js and TypeScript are now used as industry standards everywhere and even view.
00:31:43
Speaker
They have pretty good community developer documentation, really easy to use. Yeah, yeah, no, 100%, 100%. I feel like Svelte makes their reactive syntax incredibly easy. Like you don't even have to, you don't have to specify that this is a reactive variable or anything. You just define it with less and that's it. And it's a reactive variable. That's pretty neat.
00:32:05
Speaker
As Velkit is not bad either, it's a good tool and you can just simply deploy SSR applications and stuff. I could talk about this all day. I've been into front-end frameworks for a while and they're all pretty exciting, they're all pretty cool. Yeah, that's awesome. I mean, I've spent some time in front-end, not as much, but I'm starting to spend more time
00:32:29
Speaker
Right now, I'm using Tailwind CSS for my website at TS Tech Strip, and I'm starting to explore some backend frameworks as well.
00:32:40
Speaker
Nice. I started with HTML and CSS, the very basics in pre-high school. And then I went into JavaScript for a little while and then I picked up Python. And then after Python, I went back into JavaScript and then TypeScript and then Frontend frameworks and then
00:33:02
Speaker
C sharp and .net. So that's kind of the latest backend framework that I kind of played around with. And it's strongly typed and coming from like Python and then moving into something, a strongly type of C sharp and then trying to go back to Python. You're like, I don't understand how any of this works anymore. How does it just not crash all the time? Yeah. Yeah.
00:33:27
Speaker
So you said you're compatible with about 10 networks or 10
Coinvise's EVM compatibility and expansion plans
00:33:31
Speaker
chains. They're all EVM chains. Is that right? They're all EVM chains. Yeah, Ethereum, Polygon, Optimism, Arbitrum, Linnea, Base, Scroll, and we're going to support Polygon, ZK, EVM soon, and a few more. Yeah.
00:33:50
Speaker
Nice. Do you have any plans to go beyond EVM at this stage? We're planning to, yeah. We're slowly planning to expand to Solana and a bunch of other ecosystems. Okay, so Solana is number one on your list at the moment. Solana is definitely number one. Before that, we have a few more. So I'm interested in Mode Network and Barochain. They're both pretty interesting right now and Mantle too.
00:34:16
Speaker
But yeah, definitely Solana, I want to explore that because for a tool like us, Solana is under explored.
00:34:24
Speaker
Yeah, I mean Solana has an incredible NFT ecosystem and community, right? I feel like it's just the right kind of place for you guys to be in, for sure. What about stuff like, because there's two others that kind of come to mind as potentially good chains that could benefit from a tool like that. One is Cosmos, because Cosmos has like an ecosystem of chains. If you integrate with Cosmos, suddenly you've opened up to like a hundred other chains that are compatible.
00:34:52
Speaker
Yeah, absolutely agree with that. That's that's on the road map and yeah, I agree with you that Cosmos has been following Cosmos for a really long time. So now a lot of apps are using Cosmos as the layer and I've started to see like more interest now than it was before. So definitely interested.
00:35:12
Speaker
Yeah, I've actually had a chat with the product lead that's building the IBC protocol, the Inter-Blockchain Communication Protocol, which is basically the backbone of how Cosmos and all of the other networks that use the Cosmos SDK operate. And it's really, really interesting how it communicates. It's not like a bridge.
00:35:34
Speaker
You're basically creating a clone of this chain on like a very light version of this chain on this other chain. And then they're both aware of each other state at any given moment. And that just adds to the security because you can't just transact something unless you get a proof from the other chain that it happens. So it takes away from this bridge exploit that we've been having for the past two years. It's definitely something good to kind of consider Cosmos for that.
00:36:02
Speaker
The other chain that I wanted to ask you about was Tezos, because that has like a kind of thriving art market type of community around it. Yeah, Tezos does have an art market. I haven't fully explored Tezos. I've heard that Tezos is pretty active in like developing countries, Philippines and a bunch of countries, but I haven't fully looked into it yet. But I have heard like a lot of artists are on Tezos. Have you ever used it?
00:36:29
Speaker
I've used it a little bit. I've actually been to a couple of exhibitions here in London that were made in partnership with Tezos. They've worked with the Serpentine which is like a pretty large contemporary art like public gallery in London and I think they may have worked with another one and they're definitely working with a few
00:36:50
Speaker
generative art projects like FX hash, they have like a generative engine on Tezos.
Exploring partnerships with Tezos
00:36:56
Speaker
So I think the like the Tezos NFT art market scene in London seems to be quite busy and there's always seem to be like new things happening in Tezos in and around London which is pretty cool to see.
00:37:10
Speaker
Wow, that's awesome. Yeah, I definitely look into it more because, yeah, Tesos have heard it on and off, but now, maybe there's more activity. I would love to check it out, yeah.
00:37:27
Speaker
Yeah, yeah, for sure. It's a good community, because it's very specialized. It's not as generic as other chains. It's like, hey, this is like art market chain, like art world chain, which is pretty cool. I'm not sure if other, I think other galleries or other bigger projects have started integrating with Tezos as well. I'm not sure if Christie's, I'm not sure what Christie's have done, but they definitely have integrated with a pretty big,
00:37:56
Speaker
Yeah, chain out there. I'll need to check. I don't want to say anything that's not accurate. So going back to your campaigns and the kind of campaigns that you've built in the past, what are some of the, apart from Coindes, what are some of the biggest campaigns or like biggest kind of projects that you worked on and what are some like cool success stories that you've had?
Successful Coinvise campaigns and partnerships
00:38:16
Speaker
Yeah, we've worked with campaigns with Linnea. So Linnea is, again, an ecosystem, a network where we partner with five projects. We partner with SquidRouter, Vertex Protocol. There's this marketing community called Alpha Insiders. We work with...
00:38:37
Speaker
a bunch of like coin stats, Orbiter Finance. Yeah, five or six platforms on Linnea and launched the Alpha Insetter summer campaign with Linnea. And we had 5000 people come in. After that we launched our biggest partnership with Polygon Labs.
00:38:54
Speaker
So we partnered with 10 to 15 projects there, including XMTP, Crowley, Lens Protocol, or a bunch of like leading projects on Polygon. And that also invited about 4,000 to 5,000 people onto these projects. So that was pretty cool. Then we launched campaigns with Base and Arbitrum. They both like
00:39:14
Speaker
I think in total I had about close to 3,000 people come in and we partnered with again leading projects on these ecosystems like Vertex, Showtime, we had Lore XYZ, a bunch of them DLN trade,
00:39:28
Speaker
And now we're working with The Block, which is again a news company, again alongside CoinDesk. So we're launching their campaign in the coming weeks and we're also working with a bunch of ecosystems like that next that we're about to announce and working to get those campaigns live. Starting this year strong, we saw a bunch of creators launch their
00:39:52
Speaker
campaigns too and that and viral too. So we're seeing a lot more creators use coin wise. So that's also interesting. But yeah, our next few campaigns are going to be with these like brands and we're like, also launching our version six. So that's something like exciting too. So a lot of things happening.
00:40:10
Speaker
No, congratulations. I actually saw your tweet about the, uh, the polygon partnership, which is pretty big news. That's fantastic. So congratulations on that. Thank you. Yeah, it was, it was awesome. I mean, we've been trying to get this through like for a long time and they finally like went ahead with it and it was great. Yeah.
00:40:28
Speaker
That's wicked. So you've said that you've also seen a lot more creators coming to onboard and use Coinbase for their own reasons. Do you think you're more targeted towards like B2B or like B2C kind of consumer kind of user? We're more targeted towards like brands in general. So a brand could be a platform, a brand could be an individual creator.
00:40:52
Speaker
our brand could be a community, or it could even be an ecosystem. So our approach is B2B, but we treat business as platforms, as creators, as communities, as Dows, or as ecosystems, because they're all at the end of the day, they're all brands.
00:41:11
Speaker
and our tool can be used by all of them. So that's who our customers and then users come in from their community and then they participate in all of these live campaigns. So that's sort of how it works.
NFTs: Future of loyalty and perks
00:41:25
Speaker
We have like about 200k plus users now that participate in these campaigns.
00:41:30
Speaker
That's cool. Do you do any campaign moderation? Are there any guidelines or terms of services that friends are aware of? We show like featured campaigns, which is like curated campaigns that we know are trusted. But yeah, anybody can launch, it's pretty open. Anybody can sign up and get started. Yeah.
00:41:48
Speaker
That's pretty cool. What are your thoughts on the NFT market in the future and the NFTs as a technology itself? Do you think we're going to see more use cases?
00:42:01
Speaker
I think we're going to definitely see more use cases for badges reasons because they're used in a really good way for loyalty and they're really good use cases for utilizing and token gating or like availing discounts or availing different kinds of perks and benefits. So I think NFTs itself are like the status thing sometimes or they're like signaling loyalty.
00:42:29
Speaker
Or they usually have the utility of unlocking some perks or discounts. And sometimes the NFT itself is something you use as reputation, credential. So these are the broad use cases. I think all of them are starting out. But status itself is the biggest one. Bragging rights online itself is owning something digital that you can brag about.
00:42:56
Speaker
and having status, I think that itself is a huge category. And then you can see categories that are utility oriented. So the utility can be membership, the utility can be services, benefits, discounts. And the third one is reputation and credentials. So these are the three top use cases that are used today.
ERC 404 and fractional NFT ownership
00:43:18
Speaker
And I'm guessing because, of course, you've said you have bragging rights, which is reputation. You have collectibles, just collecting stuff that's unique. And then you have the other one, which I feel it's exactly what you guys are hoping are helping the build. But it's underused right now, which is the side that deals with promotions or with token gating or with interacting
00:43:44
Speaker
with parts of an application based on the thing that you own. I think obviously that's a big thing right now in the NFT community, but I feel like it could be more than just NFTs. I feel like brands could start doing these kind of things. I'm sure some have, but Nike could technically
00:44:07
Speaker
Launch a campaign that has to do that token gate something like you got to get this pair of sneakers Which is associated with an NFT and then if you get this then you can come to our like NFT after party or something like that. Yeah, they could I mean, I think that's that's sort of like interesting the creative ways of using NFTs and We're gonna see a lot more of that like this year for sure
00:44:30
Speaker
Yeah, I'm looking forward to that because it seems to be really exciting and really kicking up speed, so that's fantastic to see. Another thing that I've read about recently, and I think it's a really cool mix of using NFT technologies, the ERC 404 standard, are you familiar with this?
00:44:51
Speaker
I've heard about it. I haven't looked too deeply into it, but I've seen a lot of people adding support for ERC 404. I would love for you to tell me what it's about. I've just done a bit of reading, so I'm not by no means an expert into the matter or anything, but it feels like
00:45:11
Speaker
Well, it seems like they're combining the non-fungibility of a 721 with the fungibility of an ERC20. So what you basically create is a fractional ownership of an NFT. It's a token that is both non-fungible and fungible at the same time. So let's say that you create your own NFT, you create like a coin vice collectible, that's a one-of-one.
00:45:37
Speaker
and then that has a certain price point that people just decide to have a fractional ownership of it. That's where this standard comes into play because you will have the one of one, but you'll also have other tokens which are fractions of this one of one.
00:45:56
Speaker
so it enables you to own a fraction of that NFT, or if you own all of the tokens associated to that unique NFT, then you can burn the tokens to get the whole NFT yourself.
00:46:08
Speaker
Wow, isn't that like, there used to be a platform that did this, I forgot what it was called. Maybe it was like to do with like fractionalized NFTs, but yeah, this makes a lot of sense. Yeah. They definitely, there definitely was a platform. I don't remember the name. I do remember that they did something like that, but I don't think it was fully on chain. I think it was, they managed it themselves. It was like a,
00:46:35
Speaker
self-managed system of how they would do this. But this is basically on-chain and standardized across Ethereum and EVM. And if it gets momentum, then this is going to be like a pretty big thing in fractionalizing. Because it's not just about NFTs, you could fractionalize anything. Yeah.
00:46:53
Speaker
You could fractionalize contract ownership. You could do a whole lot of things that you can't do right now. It's pretty interesting. I'm just waiting to see exactly how it's going to be implemented. I think there's a few right now. From what I've seen, there are a few
00:47:13
Speaker
meme like tokens or collectibles that are using this technology. But I think this is just the start. I think like going forward is going to see a lot more adoption into cool new things that we haven't even considered right now.
Coinvise's 2024 plans and new integrations
00:47:26
Speaker
Yeah. What's the coolest thing that you're looking forward to? Like anything interesting you've seen so far?
00:47:32
Speaker
with regards to this standard. It was a project called, I don't remember the name, let me see if I can look it up quickly, something called with, something with frogs. ERC 404 frogs.
00:47:53
Speaker
I'll, um, yeah, I'll need to, I need to look it up and I'll send you the link afterwards. Cause I can't find it right now. Um, but there's, there's a cool, there's a few cool like use cases of like potential use cases. They're showing what's what it could be used going forward. Um, it's still super early, so it doesn't have super widespread adoption. It's just like in a handful of projects that have it right now. Um, but it's definitely something to keep an eye on for the future for sure. That's awesome.
00:48:20
Speaker
Yeah. Um, so what are your guys' plans for 2024? And do you have anything specific that you'd like to announce or any, any cool things that you'd like to let people know? Yeah, definitely. This quarter is the biggest announcement is protocol rewards for us. Uh, we six, um, a bunch of integrations with Farcaster. I think that's going to be Q1. Um, uh, the second and third quarter we're working on, uh, building some, some of the adjacent tooling.
00:48:49
Speaker
So we're gonna work on a few other tools that we're gonna add to our platform. We're gonna work on like building like a system where, you know, you can use it at a discounted fees, like simple tools where if you participate on CoinMise, you can like use some of the JSON tooling. So that's something we're looking to build in Q2 and Q3.
00:49:16
Speaker
Uh, we're also like planning to expand to like other ecosystems, like I said, Solana and a bunch of others is on the roadmap. And so I think that will take Q2, um, longer term, like we do have like, uh, there are like, uh, a bigger tool that we're working on. So the goal is to start working on that and, and have like a MVP build up.
Closing and following Coinvise updates
00:49:38
Speaker
That sounds exciting, man. Thanks a lot for the conversation. I think there's a lot of great features and a lot of potential in Coinvite, and I'll be keeping up with your guys' updates. And I'll follow along. If you have a Discord, I might just slide in and lurk there for a while and see what's going on.
00:50:00
Speaker
Yeah, if you have like a socials that you want to shout, just feel free to let people know what are your main socials and where they can follow you in the project. Yeah. So I am zero extra general on zero X, my first name on Twitter and a Coinwise CEO on Twitter as well. And you can go to coinwise.co to find how to join our community and rest of our socials, what we do. Yeah.
00:50:27
Speaker
awesome man well thanks a lot again this has been a lot of fun and let's do it again sometime hundred percent cool dude have a good one see you everyone see ya