In this week’s episode I interview Kayvon Tehranian, Founder & CEO of Foundation, a platform for minting, buying and selling non fungible tokens. We talked about how he got into crypto by way of Google, building iOS software, and skepticism with traditional finance after graduating in the middle of the 2008 financial crisis. He started his work in the space at Dharma, the web3 wallet.
He viewed DeFi as an incredible invention birthed from Ethereum. But felt like Ethereum was something much bigger than another financial system. He started thinking about how to push this innovation into the hands of creators. And that’s how Foundation was created at the start of 2020, way before this recent mani around non-fungible tokens.
We talked about why NFTs gained so much popularity and attention this year and how Kayvon thinks Covid has a lot to do with it. He thinks the pandemic forced a lot of people to reflect and pause and challenge the existing institutions and businesses that they were participating in, and realized many didn’t have online-native business models that allowed artists and creators t support themselves in this kind of setting.
We also talked about the future of the internet –– Kayvon believes blockchains are adding property rights to the internet. He also thinks that instead of having to wait for old institutions to come online, new ones in the form of decentralized autonomous organizations, or DAOS, will be built.
He foresees a future when a lot of people will start saying, ‘why aren’t you asking me to connect my wallet? Why do I have to log in this other way, that I don’t have control over what I’m doing?’ I also believe that future is not so far away.