Frenchman Alex Masmej, 23 years previous, not too long ago raised $20,000 on Ethereum by tokenizing himself. Now he needs his traders to vote on his life selections.
His “control my life” experiment challenges token holders to inform him whether or not to take a run or eat solely veggies. That may sound somewhat self-indulgent, however there’s a greater agenda right here. It may even be a startup, based on Masmej. He’s unsure.
Based mostly in Paris throughout the coronavirus pandemic, Masmej is worked up about his plan to maneuver to San Francisco subsequent yr to work on a number of tasks, together with NFT-DeFi startup Rocket. Our dialog – about self-tokenization and extra – has been edited and condensed for readability.
What motivates you to promote your self?
I wish to change the world by constructing a rising, worthwhile firm that has a big impression. I can present an ideal service to the world if I can present folks with the power to generate profits. I feel one of the best ways to do this is to construct a tech startup.
The explanation why I selected crypto is that it has a really low barrier to entry, not like AI or 3D printing startups. I tokenized myself and requested folks to vote for my habits to get some consideration as I needed to do one thing in a light-weight, humorous, and revolutionary solution to elevate funds. It’s an effective way to know your viewers, have interaction them and set off the dialogue. I do know this will’t turn into a $1 billion firm, however it was a enjoyable expertise, and my token went up.
How do you construct a picture for promoting private tokens?
The traders of $ALEX token are founders within the crypto business who have already got firms and wish to assist me out. I’ve hundreds of followers on Twitter, and so they like my power and say I’m younger and humorous. There are nearly 30 individuals who wish to make investments and take into consideration how I would develop up. My market cap is round $150,000 now. Sure, belief will not be in cryptocurrency, however within the personalised token, folks need to imagine me.
However there is no such thing as a authorized framework right here, no tips from the Securities and Change Fee?
Sure, however I’ve at all times made it clear that it’s not a safety, it’s dangerous and I may not succeed. I don’t suppose personalised tokens needs to be associated to the SEC as [they are] extra like crowdfunding. The quantity is small of (sic) $20,000, so I don’t suppose there’s a requirement [to involve] the SEC.
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Nonetheless, if I make an organization round [the token], I’d be curious to know concerning the litigation. Perhaps sooner or later I might consider a platform the place there’s some enforceability of the token mechanics.
Some folks say, ‘Oh, this involves a lot of trust, and this is like a scam.’ However I’d say that my popularity is at stake. Some say I management an excessive amount of, and a few say I can’t management in any respect. It’s not good both manner, so I feel I must discover a center floor.
Most individuals in crypto need extra privateness, however you’re opening your private life to the world. Are you going to ask, “Should I marry my girlfriend?” the way in which Mike Merrill did?
I’m single proper now, and even sooner or later I don’t suppose I’d ever ask traders whether or not ought to I marry my girlfriend or not. Nonetheless, they will introduce me to the women. Haha.
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I’m in contact with Mike and he’s an fascinating character, and even when he requested about his girlfriend, all people stated sure. Let’s assume that if I ask private questions like this and folks disagree, nonetheless, I’d marry my girlfriend as that’s my determination.
Can we see social media influencers promoting themselves within the coming years?
I feel personalised tokens will probably be huge within the coming years, and it will likely be widespread for video streams, music artists and social media influencers to boost funds. Mike Merrill was the primary one who publicly traded personalised tokens in 2008, and two years later, in 2010, one other token was personalised. There was a token Whale, a collateral of collectibles.
These tokens are both for networking or for revenue sharing settlement (sic). I’m going to construct a platform that will give publicity to the fundraiser. The traders would suppose that since this entrepreneur is on this platform, I can belief him. Coinbase does the identical because it selects the tokens, and the traders belief it. I imagine there needs to be security and guidelines concerned and a solution to reimburse the traders.
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How did COVID-19 affect your revolutionary fundraising technique?
COVID-19 is the rationale I’m elevating cash like this. I prefer to discover issues and wish to do one thing revolutionary. On June 15, I made a decision to personalize tokens once more and ask folks to vote for my life-style, which included questions like, ought to I jog, ought to I eat solely greens, and so on. I’m saving cash in order that I can make investments it for my new undertaking in San Francisco.
Since you’ll be shifting to the U.S., what are your ideas on the presidential election and on the present protests?
I feel the current ban on some work visas is counterproductive for the U.S. as new skills arriving made the nation profitable and contributes to creating internet new jobs, together with for locals. I hope the following president will welcome gifted immigrants once more to contribute to the financial system. It doesn’t have an effect on my enterprise, as resourceful entrepreneurs at all times discover a manner, however it would undoubtedly hurt the nation on a worldwide scale if these restrictions had been to remain long run.
I’m proud to see the protests after George Floyd’s dying turning into mainstream, which reveals progress has been made. I didn’t take part in any protest in Paris. I donated cryptocurrencies to organizations, together with Black Lives Matter. I weighed in on my social media as a lot as I might to make folks notice the enduring racism that has been holding the world again for manner too lengthy on all fronts.
Individuals say that you simply dream of being a Silicon Valley demi-god. Will you be utilizing Oracle, or are you the oracle?
I at all times say that I wish to construct probably the most vital firm ever, however I gained’t say I wish to turn into a demi-god. Sure, I’ll set the price, not Oracle or any third social gathering will examine it. Individuals must belief me as I will probably be sharing about my funding and bills. Will probably be between my traders and me.
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