One of many main cryptocurrency alternate platforms, AAX just lately introduced the launch of AAX Impression Lab, specializing in fostering innovation within the crypto and blockchain sector. To grasp extra about their mission, NewsBTC caught up with Timothy Wong — Head of Impression Lab and requested him a number of questions.
Q: Are you able to please inform us extra concerning the AAX Impression Lab? How is it going to learn the neighborhood?
Impression Lab is a research-partnership workforce inside AAX devoted to exploring and sharing the brand new methods digital property are altering the world for the higher. We hope to foster significant crypto adoption by highlighting the necessary social and environmental points that this know-how solves.
Q: Please elaborate in your function within the AAX Impression Lab initiative
I’m at the moment the Head of Impression Lab for AAX, main the analysis and improvement workforce to convey influence investing and sustainability consciousness to the digital asset house by means of partnerships and collaborations with manufacturers throughout the business.
Q: Please shed some mild on the stories created by the AAX Impression Lab. What are the completely different focus verticals within the crypto phase and the evaluation strategies carried out?
Impression Lab stories are organized by themes to systematically delve into each business that crypto is disrupting. The primary three analysis stories, for instance, might be investigating the completely different use-cases of NFTs – Impression/ philanthropic NFTs, profile-picture NFT communities, and Music NFTs – and the important thing humanitarian points they remedy. The next set of stories might be about web3 digital identities, together with Soulbound tokens, decentralized social media, and the open metaverse. As lots of the ideas in web3 are nonetheless new and experimental, Impression Lab’s stories are consequently extra explorative than analytical in nature.
Q: How do you assume these stories will influence innovation within the crypto business?
Like every other technological innovation, a considerable understanding of the present business ache factors is crucial to driving consciousness and utility demand. Because of this Impression Lab’s stories take a particular effort in clarifying misunderstandings/articulating systemic inefficiencies earlier than going into the brand new business purposes with crypto. We consider that by attending to the basis of issues, articulating them in a relatable voice, and showcasing concrete use-case benefits, we’re capable of provide readers a fascinating initiation into web3.
Q: It is going to be nice in case you can present extra particulars concerning the composition of Impression Lab workforce, and what they create to the desk
Impression Lab workforce consists of a advertising lead with an promoting background, a analysis analyst/ strategist, a model designer, a blockchain engineer, and a UIUX specialist. Collectively, the workforce brings a big selection of expertise and views to create impactful content material and partnerships.
Q: Would you wish to current the important thing findings of the most recent “Impression of NFT Communities” report back to our readers?
The important thing thought behind the most recent “Impression of NFT Communities” report is that NFTs are far more than profile photos. They’re, actually, id memberships to manufacturers which are leveraging web3 applied sciences to encourage and unite fanatics behind necessary causes, reminiscent of girls’s illustration, empowerment, and psychological well being consciousness. As such, NFTs have confirmed to be unprecedentedly efficient in assembling like-minds and fundraising on a world scale.
Q: Based mostly on the report, how do you assume the NFT market will affect society, and the areas that would profit from the evolution
Indubitably, NFTs will underlie every little thing we personal digitally and type the spine of the long run digital financial system. Furthermore, digital communities shaped over profile-picture NFTs will play an growing function in many individuals’s lives as they spend extra of their lives on-line, permitting extra individuals to discover a neighborhood that they’re keen about and are invested in. Which means NFTs are enjoying a task in serving to individuals discover a higher sense of relatedness and belonging by means of digital neighborhood memberships and experiences.
Q: What are the long run plans of AAX Impression Lab?
AAX Impression Lab is seeking to develop not solely by means of content material publication but additionally by means of strategic partnerships. For instance, AAX Impression lab has partnered with Elle to launch an Impression NFT marketing campaign as a part of their metaverse debut. This occasion permits public members to encrypt and share a non-public message to their particular somebody by minting it as an NFT. The NFT can then be despatched to the recipient to work together and take part. We’re keen to attach with different like-minded companions who share the identical values and are equally enthused about blockchain applied sciences.
Q: As individuals digging deep into the business, what could be your suggestion to undertaking creators, buyers and customers of decentralized ecosystems that would assist create a stable, future-proof basis for the business?
Two ceaselessly used slangs in crypto are BUIDL (deliberate misspelling of Construct) and FUD (Worry, Uncertainty, and Doubt). We consider one of the best ways to assist the business develop and mature is for undertaking creators, buyers, and customers to collectively BUIDL extra and FUD much less.
Q: The rest you want to add?
To essentially make an influence, we should first ask ourselves how we will instantly enhance the lives of everybody round us earlier than pondering of going large. In spite of everything, web3 is a set of infrastructure instruments for good concepts, and good concepts finished en masse make a large influence.
