Creator of the First Bitcoin ATM in Asia is Now Bullish on Galaxis, a Post-Hype NFT Utility Platform
In Brief
Andras Kristof, the creator of the first ever Bitcoin ATM in Asia is launching his product Galaxis (formerly known Ether Cards) for the public in Q4 2023.
Galaxis and its new sticker book technology is already creating lots of engagement and reward mechanisms in communities, with the venture being the tech stack behind many celebrity NFTs in the past.
Andras Kristof deployed Asia’s first ever Bitcoin ATM. But he was also the CTO behind Viki.com, a venture that was sold to Rakuten for $200 Million. Since entering the realms of blockchain in 2013, Kristof has been involved in many companies, being bullish on digital ownership.
But instead of using the conventional method of non-fungible tokens (NFTs), his company Galaxis is emerging as something more than an NFT marketplace, a platform that allows NFTs to be utilities, offering engagement tools, and opportunities to fund and monetise products or service offerings.
Andras and Galaxis place focus on allowing a seamless creation of NFTs for its users through its interface; one that allows users to add customisable, unique and specific traits that provide benefits to their community. Unlike most NFTs which commonly use the ERC-721 and ERC-1155 token standards and represent ownership of digital art, Galaxis’ dynamic NFTs change appearance, traits and features overtime, improving or decreasing in real time based on the traits that they’re linked to.
“Chainlink have been one of our biggest partners in helping us achieve this, and we showcased the dynamic NFT technology in our partnership with the NBA ahead of its 2022 Finals” Kristof said in a statement. NBA’s The Association NFTs are more dynamic and interactive experience, an example that can be utilised across industries.
Kristof told us that 2020 was when Galaxis was born, it was then known as Ether Cards. While helping onboard companies and celebrities like LaMelo Ball, Val Kilmer, Mike Tyson and more, he noted that many were struggling to understand the long-term utility for NFTs.
NFTs in the recent past have had record highs and record lows in trading volumes, nonetheless are having a moment. They’ve already made their way into industries like gaming, entertainment and event ticketing. Galaxis believes that technological innovations have a way of enduring beyond their trendy periods, and are finding all the extra values that can be crammed into a collectible. For example, Galaxis’ community project Girls, Robots, Dragons (GRD) allows its community to collect a series of GRD NFTs and submit them in the form of a sticker-book, which entitles them of up to 30 ethereum in rewards. Ultimately, it’s up to the organisers to determine the values, features, perks, functions and utilities that make sense for their particular community.
As Kristof delved deeper into learning about NFTs and their long term utilities, or in his words, ‘generating a post-hype utility platform’, Galaxis developed engaging tools such as the sticker-book technology that was launched a couple weeks ago. The company has also partnered with Web3 industry giants such as Chainlink and Ethereum Name Service in the past for various technological collaborations which will result in a potentially game changing platform, when it goes live in Q4 2023.
Galaxis said that their features hope to highlight how NFT technologies can be utilised and help onboard more users to Web3 in a seamless fashion by removing the technical barriers to entry, and simply treating them as ‘digital-membership-cards’, ones with benefits. Galaxis explains that asset-based communities are changing the way we see and interact with social media, solving issues such as data collection, diluted brand equities and true community ownerships.
“Once we saw the ability of NFTs as a whole to reshape the engagement, funding and monetisation dynamics, it blew our minds off,” said Kristof. “We’re not an NFT platform, we’re not an NFT marketplace, we’re a funding and monetisation platform. You could be an athlete, an artist or even a politician – if you have a fanbase or a community, the technology has the potential for you to engage your community in real time, in ways that are beneficial for them and for you.”
Galaxis aims to help onboard users with no-prior experience of Web3 technology or NFTs into its upcoming easy to use platform, hoping to enable mass adoption of asset and engagement based Web3 creator economy.
“What we really hope to do is to be able to help people understand how we allow these types of technologies to create better community engagements and better business efficiency,” said Kristof. “The dotcom bubble collapsed, but the internet came out of it. The initial-coin offering bubble collapsed, and decentralised finance came out of it. Similar will be the case with NFTs, and new products will come out of it.”
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
