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First business brainstorm

· 2 min read

Today we had our very first business chat with one of our strategic investors. They are a team full of tech-savvies who are very open towards blockchain, Web3, and the metaverse in general. They shared with us what they have been exploring in the field for the past 6 months and their vision of a metaverse future. It was a very productive discussion, here are some key takeaways from it:

  1. Companies often have difficulties moving their offline businesses to on-chain businesses in a 1-to-1 mapping fashion. The world of blockchain is so vast while the offline business of an enterprise is limited to only its customers, region, or country. Created tokens don’t have enough liquidity. Created NFTs don’t have the scarcity or the utility that people want. It just simply doesn't scale.

  2. Aura is creating an NFT-centric blockchain platform. It has to be global. We can focus on the Vietnamese market at first, but a global scale is what we should aim for. Only by creating new use cases that can board multiple companies, we might be able to generate enough transaction volume to actually make it appealing to users.

  3. Metaverse is the trend, probably will become mainstream in 2-3 years when the technology is more approachable to general customers. Korean companies are working together to make Seoul the world's first metaverse city. Our partnership can do the same in Vietnam.

Although it is quite early at the moment for the Aura Network team, this kind of brainstorming session provides valuable insight and pain points that our partners are facing. Our business team will take over from here and we will keep you posted on future developments.