John Russo

So hello everyone. This is John from Washington Elite, the premier platform for news and entertainment in the international blockchain community. And today with me is Priven from Piqsol, the fractionalised NFT marketplace. So first of all, can you please tell me a little bit about your projects and what brought you here to Blockchain Economy? 

Priven

Firstly, thank you very much for having me in your session today. So we were invited today to speak at the Blockchain economy Summit on augmented reality, virtual reality and the Metaverse as we have a fractional NFT marketplace that feeds and supports a lot of what’s going on in the metaverse from fractional ownership of assets. That’s how we got here today. 

John Russo

And your project is a fractionalized NFT marketplace. 

Priven

Yes. So what’s really cool about what we’re doing? We have a fractional NFT marketplace that’s unlike anything else out there. I mean, you’ve got really cool platforms like Magic Eden and Opensea, etc. But we knew earlier this year that hey, hold on, we’re going to come to a point where liquidity is going to dry up for these marketplaces. There it’s only so long you can sell an NFT and promise all this amazing utility, and sell it for half a million dollars. And it’s only X amount of people that can, a finite number of people. In order for NFTs to really be, you got to have mainstream adoption and you’ve got a mass adoption for that. And how do we do that? By providing better onramps and lower entry costs to that. And fractional energy solves the problem.

John Russo

Well, for sure. I think it is one of the main things and increasing demand I think, is I think these are interconnected simple things, liquidity and increasing demand. But basically by allowing people to invest into the top tier utility energy with just like, I don’t know, $100, $50, etc, you increase the demand drastically. 

Priven

Let’s look at it right now. Our marketplace is focusing on Africa and India. You’ve got two continents that have over two and a half billion people and there’s no NFT marketplaces to those folks. It’s not as though they don’t want to get involved. The onramps weren’t there for them and the NFTs were too expensive. Now, bringing it back to Bored Apes as an example, how amazing it would be if I could purchase a fractional portion of a Bored Ape and I still owe in its growth $500 or $200 or whatever the case may be. And this is what’s really needed right now in the NFT sphere. This is why we look at it right now. We’re all set for growth over the past year and a half and 97% drop in sales of NFTs. 

John Russo

Yeah, for sure. I think the drop in sales was kind of obvious because the market was in a very big bubble where people were just launching projects basically like every day that had no utility, no games connected, nothing at all just art projects. And these projects were like selling in millions. The amount of scams and rug pulls that were happening, it should have ended. 

Priven

I always tell people it’s like Christmas dinner everybody ate. Now it’s time to shit up all of the weights. It’s a whole lot of dead weight, but it’s come in, they’ve done all the wrong stuff, and the market is normalizing itself. But I think once everything normalizes, we’re going to see a huge adoption in our platform as people are like, oh, hold on, now I got to put all my eggs in one basket. I can take the 1,000 have and put into ten different NFTs. And hedge my risk on that at the same time because it’s so cheap to get involved in high value blue chip entities right now, using our platform, we really see there’s going to be crazy adoption going forward. 

John Russo

Yeah, for sure, because everybody sees all these names, all these big projects, but they just don’t have enough money to basically invest into them. So how long are you guys in the business? 

Priven

So we’ve been in the tech sector for 17 years in blockchain from 2015, and we’ve only just got into booming NFT Marketplace late last year. Our designs are ready in December, started Dev and Jan, the project went live about three weeks ago. So it went live sometime in September. So we are still very fresh with our beta set of users right now. 

John Russo

So what are your competitors and what makes a difference? 

Priven

Okay, so if you look at fractional, art has been around before us, but they don’t fractionalize entities in the way we do. We are the only company globally that fractionalizes entities with true fractionalization of entities, and that also creates copyright documentation on the fly. So when you buy NFT from us, the system automatically generates copyright documentation highlighting exactly what you own and what copyrights we have assigned for them. So if you ask us what our competitors are, Magic Eden, Opensea  are general competitors in empty space, if you ask us who are your competitors from a fractional NFT point of view, we don’t have any competitors as yet, but it doesn’t mean we won’t have competitors. 

John Russo

What about Logan Paul’s

Priven

With all due respect to Logan Paul’s liquid Marketplace, I think it’s like 5% of what we are doing at the moment. If you look at the marketplace with all due respect to them, I think it’s a fantastic guy with a huge following. But our technology is like a decade ahead of what they’re doing at the moment

John Russo

because obviously he’s probably hiring some agency to do it. And you have so much experience in developing this technology. 

Priven

See, Logan Paul is not his following. He’s not a tech guy. He’s an influencer. Right now, you can’t expect him to want to deliver a product. He doesn’t know what it’s meant to do. We come from tech. It’s a part of our DNA. It’s not as though we’re adapting to Tech, We are technology and this is how we’re able to develop high end solutions that nobody else is doing on our platform right now. In three weeks, we’re launching NFT rentals as well. If you’re a creator, you can create a collection of 10,000 NFTs, put it up for sale, list it for sale with zero gas fees, using our launchpad. 

John Russo

Wow, that’s super impressive. Have you thought about using fractionalized, bluetooth and a few that collateral for loans? 

Priven

So that is something that our team is looking at. But right now, with the state of where blue chip entities are, we aren’t going to take that risk right now, waiting for the market to settle. But what we are inviting bluetooth NFT owners to do is bring NFT’s onto our marketplace, fractionalizing, and get liquidity coming in from the first moment you listed, as opposed to waiting months and then dropping and dropping and dropping. I mean, there’s quite a few folk out there that had NFTs worth a few hundred thousand dollars. Now they work almost nothing. So we say, no, you don’t need that to happen. Bring it on to our marketplace. Let’s fractionalize 

John Russo

and just sell 10% of it, basically. But the main question is, will I be able to buy a bag of 10%? Will I be able to sell the other 90%, or will you have enough liquidity for me to sell everything else? 

Priven

So the thing is that when it comes to you wanting to buy it back yes. Our platform allows you to message each individual entity, whoever’s bought you a block, to buy it back from them. When you acquire all the blocks, you can claim the entity, so the main energy comes back to and the production blocks get burnt in our system. That’s how it works with us, right? In terms of will we be able to sell the other 90% out there? I think if an energy has enough is a good enough user base for it, it’ll sell itself out. 

John Russo

Yeah, obviously. Yeah, for sure. So what is your main objective for this conference? 

Priven

I think it is important that we attended not just to see what is out there, but we wanted to meet other folks to collaborate with them. With what we’re doing. We don’t believe that one person can eat the whole pie. It’s so big. We can collaborate. I think we can do better things together. So we want to look at what other service providers are out there, what are the vendors are out there, who could we meet, what could we do together and how could we grow something together? I think the only way for technology to really grow and to really become advocates for mass adoption, it’s by collaboration and that’s why we’re here. 

John Russo

Yeah, for sure. I think collaboration the way our communities work in the blockchain sphere, it’s a big opportunity for growth and for working together. So how are you finding this conference? Is it meeting your objectives? 

Priven

To be honest, I’ve been to a few over the past two months. It’s probably one of the nicest events I’ve been to. It’s organized well, stage was set up well. The quality of individuals here are much higher than the previous events have been to, so I’m actually quite impressed. I don’t expect it to be as positive feedback the way I feel right now, but earlier when I came, I spoke to my business partner. The quality of people here and speakers are so much better than the previous ones we did.

John Russo

Yea, for sure, I can totally agree with that. And so, with Piqsol, what are your plans for the next three to six months? 

Priven

We’ve got a twelve month rollout plan in terms of the company. We’ve got various territories that we want to get into. A large part of what we’re doing right now is saying, hey, listen, we self fund all our developments. Now Our three month plan is to get on as many collisions as we can, collections, bring users onto the platform. Once that happens, over the next three to six months, we want to look at trying to grow rapidly in Asia and Africa. Our plan is within the next 24 to 36 months to have a $1.2 billion valuation as a company, and I think we’re most likely going to achieve it. 

John Russo

So, for everybody to hear, could you please tell us what is the name of the website and what are your social media, how people can find about Piqsol? 

Priven

So you can check us out on the internet. It’s www. P-I-Q-S-O-L Q for Queen, S for sugar, O for orange, L for Lollipop .com. Or you can check us out on Instagram. It’s Piqsol. P-I-Q-S-O-L  .Art. 

John Russo

Yeah. Amazing guys, man. Thank you so much. It was a big pleasure to chat with you, this was Washington Elite. My name is John. 

Priven

Thank you very much. 

John Russo

Thanks, Priven.