Why I am joining NeoSwap!
Every once in a while as an investor you have a company come across your desk/inbox/DM’s/(insert trendy thing here) that makes you stop.
You just think, ‘wow, this idea is incredible’.
That is what I had with NeoSwap.
Initially, I was introduced to the team via a mutual contact and I began advising them. The founding team are brilliant people (more on that later) and what they were working on was absolutely fascinating and potentially world-changing.
So when the CEO asked me to come on board as Head of Strategy, I had to think about it very seriously…and then, of course, say yes.
What is NeoSwap?
NeoSwap is a multi-party, multi-item NFT swap platform.
It adds potential liquidity everywhere (and we all know liquidity is what makes the world go round).
In essence, the problem NeoSwap is solving is figuring out the optimal way to allocate or reallocate items across a group.
This is known as neo-barter.
We all have NFTs we don’t want, feel agnostic towards or maybe even dislike as we got them in a blind mint.
So we list them, but did you know 65% of listed NFTs never sell…?
We all want NFTs we don’t have, maybe we don’t quite have the money to buy them, especially in the current world of rate hikes, inflationary pressure, rising energy costs, etc.
Sometimes it works, but often you get low-ball offers, or you are offered something else you don’t quite want for part-exchange. Trades can be difficult and fall apart quickly, especially when it’s dependent on two parties finding a resolution.
NeoSwap is a place that allows multiple parties to come and create incredible multi-way trades.
The algorithm behind NeoSwap proposes multi-way trades that would be impossible to put together otherwise: both to figure out the trade and to coordinate all the parties involved.
We create win-win-win situations. Pretty amazing.
Check out the mesmerizing GIF of a live trade done on the platform below. Bear in mind this all happens in one transaction:
When you look at the size of the NFT market, and the illiquidity issue in many collections, the promise of the platform becomes huge.
When dealing with items that have a subjective valuation, one phrase comes to mind:
“One person’s trash is another person’s treasure”
Imagine being able to swap items within a community directly for others you want. Maybe your floor Satoshible that you aren’t keen on for 2 others you really like.
Perhaps you own a bunch of in-game items or accessories you don’t need or want, you can swap them with other community members, get an NFT and some tokens out of it.
Maybe you swap across communities where you’d like exposure to a different collector base. Usually, you’d have to list your item in hopes it sells, (that could take a while, or never happen), then exchange it for a token, go to the next collection, and hope you can get one you like and for the price you need.
With NeoSwap you could arrange an event between collectors or each group (or a bunch of different groups) and get swapping.
As you can see from the GIF above, tokens can be involved, so you can come to the table with NFTs, tokens or a mix and you can also leave with a mix.
NeoSwap has the power to unleash liquidity in the NFT markets in an unprecedented way. As a collectooooooooor myself, with many many illiquid NFTs, there are plenty I would swap for ones I find more aesthetically appealing or might have some other subjective value to me they don’t have to someone else.
I really believe this idea is revolutionary and has the potential to change the way we conduct commerce.
NFTs are a great starting point, as digital goods that have subjective value and offer immediate settlement it can show the power neo-barter unlocks.
Another reason I was so excited to work with NeoSwap, past the revolutionary idea, was the founding team. These people are so bright and so enthusiastic about what they are building and how it can change the world. Their energy is infectious.
John Ennis is the CEO and founder. He has a PhD in Mathematics and Post-Doc in Computational Neuroscience. In the crypto-world, we affectionately refer to that as Galaxy-brained :)
Prior to founding NeoSwap, John was already a successful entrepreneur in the Artificial Intelligence space, founding Aigora. He has been a key-note speaker in the industry and a market expert.
Check out his talk on NeoSwap here at Bitcoin Unleashed ‘22.
Hamza Diaz is CXO and co-founder. We were lucky enough to spend time together in Portugal at the Sol Breakpoint event in Nov 21. Hamza’s obsessions with the user experience and constant iteration/improvement blew me away. Watching his interactions with people as he showed them demos was fun. Hamza is a full-stack developer & data scientist and it shows with his approach towards everything.
Kuba Kwiecien is CTO and co-founder. Yet again, galaxy-brained. He has a Masters in Theoretical Physics and was Head of Artificial Intelligence at Aigora.
John, Kuba and Hamza have all worked together previously and have a great working relationship and style, which shone through when I was advising the business.
I know this is cliche, but they always say you should aim to be the dumbest person in the room/surround yourself with people smarter than you are- this is not hard in this instance… :)
It is a team I know will work hard and smart to make an impact on the world. They have a deep confidence and belief in their product. Now, so do I.
Stacks is just the beginning for NeoSwap, but it is an exciting one. There is a growing and passionate community of NFT users on there, and smart people coming to build great products on there every week.
We are currently looking for selected projects and communities to partner with. It is a great chance to support artists and their communities and show them the power of NeoSwap.
If that sounds like you, get in touch!
The future is much bigger than only NFTs, but this is absolutely the best place to begin our journey.
Come swap with us frens!