TokenPow, an auction platform on the BSV blockchain, features two ways of minting the tokens—Money Button and RUN. Money Button is mostly used to tokenize logos, whereas RUN is typically utilized for tokenizing assets, such as videos, certificates, etc. In this episode of Women of BSV, TokenPow founder Razvan Petre discussed the growing fame and power of nonfungible tokens (NFTs), the company’s NFT gallery, and Bitcoin SV.
When asked what led him to build an NFT gallery as a business, Petre explained that since digitization is taking place at a global level, everything in the world would tokenize, NFT or not, i.e., everything will become a token at some point. He pointed out that when the internet was new, most people could not understand its usage, and today we are streaming videos on our phones, computers, and TV. “Similarly, there are some use cases that people aren’t even grasping right now. We are currently at a kindergarten stage of NFTs,” Petre added.
Women of BSV co-founder Diddy Wheldon asked Petre how they can tokenize a ‘Thank You’ card, a 12-second-long video on the TokenPow platform, to which he said that they could mint it using RUN. Currently, the platform features a few Women of BSV videos, including “thank you” tokens (not for sale) and digital paintings that come with a canvas.
“Money Button works well and is easy to use for beginners while the Run functionality is facing frequent challenges due to the load on servers and infrastructure problems,” Petre shared.
Petre mentioned his previous career experience in banking, urging people to move away from old banking systems because he believes peer-to-peer payments and DeFi are the future. “Dr. Craig S. Wright, the inventor of Bitcoin, knows about this technology more than anybody else on this planet,” he stated. Both sides then discussed the differences between BSV and the rest of the digital currencies, pointing out that the latter presents no utility. At the same time, BSV shows a great utility as “we are building a whole digital world around it.”
Petre, who rejected a friend’s request to purchase BTC for $100 in 2014, thinking it was a scam, recalled when BCH experienced a hard fork in 2018, leading to the emergence of BSV. “That particular time encouraged me to believe in Bitcoin,” Petre noted.
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Also watch CoinGeek New York panel, The New World of NFTs
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