NFTY SPOTLIGHT: Meet Ty, COO
Ty, COO of NFTY Labs, is a man of many talents. Whether it was constructing with wood and tools when he was young, or soldering micro-components on silicon circuit boards, building has always been his passion.
Ty was just 19 years old when he started an IT business. When it later failed a year in, he “restarted” his life in his hometown, Georgia (US). He worked his way back up to a management position at a telecom company, but soon discovered his real passion, cryptocurrency. As he learned the ins and outs of it, Ty knew he wanted to build a company in the crypto industry, no matter what it took.
In 2018, he began building the brand “TytanInc.” on YouTube. A year later, Ty quit his job at the telecom company and moved to Asia for nine months. Throughout his time in South East Asia, Korea, and Japan, he discovered how valuable crypto is in countries outside of the west. Prior to his Asia trip, Ty first met the CEO of NFTY Labs, Digital Lawrence. They crossed paths again in Asia towards the end of 2019.
The two of them started NFTY Labs in late 2020 from a simple idea to require NFTs to enter private Discord servers. They quickly found out that what they were looking to build was in high demand, building the company to what it is today.
“We genuinely believe that the next step for NFTs is to unlock digital + physical experiences just by holding an asset. Of course, this would simply be a dream of ours if we couldn’t build these experiences, but we can, and we are. NFTY Labs is at the forefront of NFT utility and functionality because we aren’t satisfied with what exists but what is possible.”
When it comes to NFTs, Ty is fascinated by their immense capability.
“An NFT is best explained as a digital pokemon card with extended membership access for owning it. NFTs can allow the creators to save audio/video/image data, etc. on the blockchain, making this asset immutable. If we add a layer of utility infrastructure to these immutable assets, then the possibilities are endless.”
His favorite features of NFTs are Metadata, immutability, royalties, and of course, the decentralized nature of NFTs themselves.
“The fascinating thing about the Metadata in an NFT is that even though NFTs are immutable and cannot change in most cases, methods utilizing smart contracts would allow creators to change the Metadata based on external variables. This enables the NFT to come to life in many different ways. We call these types of NFTs ‘dynamic’ rather than the typical ‘static’ NFTs that everyone is used to by now. Royalties are a bit self-explanatory, but they revolutionize how these assets are traded, and add another dimension of strategy for creators building their NFT ecosystems.”
Ty says NFTY Labs is pioneering the space by providing essential tools for creators and unique experiences for NFT holders. Since the NFT space is so new, NFTY Labs is barely scratching the surface.
“Imagine you’re taking a vacation at your favorite resort. You arrive at the resort, and because you’re holding the resort’s official NFT, you receive a generous discount on your stay, all through an automated process. You also find out that the resort has a digital private community club to chat with other resort members who hold the resort’s NFT.”
Ty looks forward to the future, not just as the COO of NFTY Labs, but also for the NFT space as a whole. He believes they will change the world forever.
Ty’s Interview with Cointelegraph
Ty discusses topics concerning fundraising in the NFT Market, the next generation of NFTs, and the robust NFT authentication platform of NFTY Labs.
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About NFTY Labs
NFTY Labs is a foundation focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.