Tell us about yourself and your role.
In 2015, I founded Hexbite Labs, a blockchain developer specializing in smart contracts and customized cryptocurrency systems for business. I set up the company with one goal in mind-bringing crypto to the masses. I was later introduced to NFT in 2020 and was immediately hooked. In this unique world, the possibilities are truly endless. Shortly after 2021, I co-founded West Coast NFT, the NFT division of Hexbite Labs, with the goal of democratizing the NFT industry and removing barriers to entry. As CEO, I lead a talented team of artist partnership professionals, developers and smart contract professionals who work closely with artists and creators to ensure their drop is successful.
Tell us more about WestCoastNFT.
WestCoastNFT is the NFT division of Hexbite Labs, a blockchain development company founded by Steve Mitobe in 2015, specializing in smart contracts and customized cryptocurrency platforms for businesses.
Founded in 2021, West Coast NFT is an excellent full-service NFT development partner. We are a smart contract development and NFT deployment shop, offering custom smart contracts, minting pipeline design, blockchain development, promotional microsites, drop prices and strategies, and complete launch executions. WestCoastNFT is the easiest and smartest solution for new artists to enter the world of NFT by partnering with artists of an unprecedented level. We aim to support artists from start to finish and help the indie artist community monetize their art and reward their crafts.
Since its fruiting, WestCoastNFT has worked with leading NFT creators Doodles and Mfers and other prominent creators such as DoodleDarcels, 888 Inner Circle, Secret Society of Whales, Based Fish Mafia and Boneheads.
How will the availability of NFTs through Instagram impact the market and change the user experience?
Accessibility is the biggest challenge facing the NFT industry. Understanding the necessary technologies, such as creating MetaMask wallets and funding Ethereum wallets, and buying NFTs will prevent many potential consumers from entering the space. If Instagram can simplify this process, it will allow up to 1 billion active users access to NFTs. Personally, I think this is good for me, who is enthusiastic about democratizing the industry and removing barriers to entry. The NFT community is proud to be inclusive. This will be a real test of it as more people will invest in space.
What are the strengths and weaknesses of allowing users to create NFTs via Instagram?
Indeed, there are many pros and cons to allowing users to buy NFTs via Instagram. As mentioned earlier, this helps democratize the industry and provides billions of access to NFTs. This is fantastic. From the artist’s point of view, this provides a fan base with an easy way to own a piece. Not only this, but with the advent of Instagram, it will definitely influence and follow up on other social media channels, further strengthening the industry. This will also lead to more influential people taking advantage of the growing popularity of NFTs. Whether this is good or bad, it’s still in its infancy.
Speaking of some shortcomings, the market is flooded with invaluable NFTs that capture the latest Instagram challenges and trends-this is unavoidable. Monetization also attracts malicious persons, in this case counterfeiting, fraud, and counterfeiting.
What do you think the future of NFT will be? And what can you expect for the rest of 2022?
The future of NFTs looks very bright. The consistent growth of users and artists in the space will increase diversity and collaboration with real-world brands seeking to enter the space, creating an even more exciting and diverse future.
For the rest of 2022, we can expect NFT projects to top with more Web3 utilities and a solid roadmap. New artists and new art styles will enter the industry and eventually more users and collectors will emerge.
I can’t wait to see what’s coming in 2022 for this already rapidly expanding community.
What does this mean for other social media platforms?
Many social media platforms are already publicly exploring this space, opening up different ways and opportunities for artists and creators to interact and interact with their fans. Making money through these platforms is essential. Instagram’s leadership will ensure increased adoption across the industry and social media platforms.