Guest Lecture Review: 5 Questions for Jürgen Alker, Highsnobiety
Jürgen Alker is a consultant and an expert when it comes to questions around Web 3.0, NFTs and the Metaverse. He has been involved with “Crypto” since 2013 and has recently become Head of NFT Studio at Highsnobiety, where he dedicates himself exclusively to these topics. In this interview, Jürgen answers five important questions from his guest lecture.
Brand University: Hi Jürgen! Everybody talks about it, but what is the Metaverse?
Jürgen Alker: Hi! People familiar with the Metaverse would probably call it a virtual space. For me, the Metaverse is a time, not a space. Historically, when you look at the internet, from time to time, a paradigm shift occurs. First, there were portal sites, Google, then social networks and now crypto and NFTs. Today, everything is going digital, whether it is our job, our friends, or our own identity. We are all constantly online. Virtual values will be more important than physical goods. It will define the times we live in.
BU: What is NFT and how can I buy/sell one?
JA: NFT means non fungible token. It is a unique and therefore non-exchangeable digital asset. Basically, you can buy NFTs on online marketplaces. There are several platforms, for example Binance, FTX or OpenSea and others. The largest marketplace for digital items such as art or other assets is OpenSea. Most NFT trading is carried out on the Ethereum blockchain. To be able to sell your own NFT, you have to create your own crypto wallet at the beginning. Furthermore, the appropriate currency (in this case ETH) should be purchased to pay any fees incurred for creating/selling the NFTs. Finally, you have to choose a marketplace where the digital object is “minted” (converted into NFT) and released for sale.
BU: Which services are currently relevant for companies in Germany in the NFT space? And what is the best way to position yourself?
JA: First, you need to know that there is a huge gap of knowledge. The good thing, people want to learn. They want to know what the chances are. So, share your knowledge! My approach is to identify the most pressing issues, identify needs, and discuss different strategies for tackling them. Based on this help your clients find a suitable solution for example modernizing their business model. Become a trustful partner.
BU: Are there any risks involved in NFT trading? If so, what are they?
JA: Of course, there are also risks. You have a lot of scammers just waiting to get your money. So, be careful and be sure to use secure login procedures and credentials. Moreover, you don’t have a traditional customer service representative at a bank that you can call. Eventually you can lose a lot of money. But where there are risks, there are also opportunities. I think, we have great chances ahead of us when it comes to the world of NFTs and Web 3.0.
BU: Jürgen, one last question. Do you have a recommendation for your 21-year-old self?
JA: Trust what you are good at. Don’t try to get rid of your weaknesses, build on your strengths. And most importantly: don’t spend too much time on thinking about what others might think about you. It only matters what you and your closest friends or family thinks of you. All of us try to get the acknowledgment of others. But what for?
Many thanks to Jürgen Alker for the insight into the world of NFTs and Web 3.0.