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Letter 11 - NFT and Some Angel investing
Minted and Sold an NFT art-- Also revealing one of the companies I invested in this year
First a note on digital art: Thanks to my friend Manas, I have finally bought the procreate app and restarted doodling / painting. One of the things that hit me most was how damn easy it was. It almost felt like cheating. It is the exact same kind of feeling I got when i discovered loop music which helped me compose background score of many of my poetry compositions
Whenever barriers of entry into art are lowered we see many more people join and many new type of art emerge. Loop music made scores of musicians more productive and also increased the sheer diversity of sounds we all are now exposed to, I assume similar things are happening in digital art world as well.
I hope soon it will happen in no code space also, when it almost feels like cheating. At the moment I do not feel that way, which maybe because I have worked in tech long enough so my bar for “magic” is higher.
Back to NFT: So after creating a simple art piece following a few tutorials, I minted it on Matic chain. My aim was simply to understand the process and was blown away by how easy everything has become and how it can already do so much. For eg: I actually set a 10% royalty, so whenever my NFT is resold on opensea, I make 10% of the proceeds in perpetuity automatically. No clearing authority or anything
A big shout out to Shobhit for teaching me how to mint it and also Buying the NFT :D. Its also transparent so you can actually see how much it was sold for :)
Here is a video from shobhit explaining how to mint your NFT (Note the real action is on ether chain, not Matic, but ether is super expensive at the moment )
Soooooooooo…..this year I finally started investing in some incredible founders and one of the companies I invested in just announced the funding round, hence I can talk about it :)
I invested in location analytics startup called Locale.ai . What I loved about the company was their focus on solving a very specific hard problem. I anyways am a fan of SAS and their demo was incredible. Also, I am super bullish on the founders Aditi and Rishab. You can try their demo here . They are also hiring, so reach out to Adit if you are interested
I hope to be able to talk about the other incredible startups I got a chance to invest in soon.