Exploring the Future

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The world completely changed when the internet moved from text-based pages to dynamic, content-rich pages and platforms such as social media. This shift now known as Web 2.0 has created everything we know about the digital space. But with the development of technology, Web 3.0 is on the verge of becoming mainstream, and Ceylon Today learnt of a group of young innovators who are looking for an opportunity in this brave new space.

Hyperglade

“We are a Hyperglade and NFT service provider. We’re a team of startup founders who have previous experience building successful startups. We saw the potential for artists to make sizeable profits through the sale of NFTs and we wanted to help the creators of Sri Lanka through NFT asset technology, because there is a lot of potential in the space,” explained Co-Founder and Co-CEO Kalana Muthumuni, part of the team whom we were in discussion with.

Hyperglade has been actively developing new technology that has improved the NFT space. “We looked at how to make the NFT space more accessible and came up with a product that shortens the customer journey by over 60%, and then came up with a services arm that helped any creator or brand to get their NFT collections out. Some companies or creators have amazing NFT ideas but don’t have a full idea of how the NFT space works, that’s where we come in,” they shared.

Ceylon Today learnt that Hyperglade also is involved in project management, marketing and a number of other arms that help artists focus on their creative effort while letting them handle everything else.

“We are also involved in a CSR project called Heal Sri Lanka, which uses artwork inspired by the struggle of the people. We’ve converted them into NFT and 90% of the sale goes to buy medicine for the ongoing medicine shortage, using the WatchDog and GMOA dashboards, and 10% to the artist as well because we want to help the creator as well.”

What’s an NFT?

If NFT is a word that’s a little new for you, NFTs (also known as Non-Fungible Tokens) were a big topic of discussion that rose to massive popularity in the past months. When a digital asset (for example, an image) is given an NFT, it’s possible to use blockchain technology to track ownership of the image, meaning it allows you to own and trade digital assets for money.

“There is this one, very popular NFT project, a mobile game called Axie Infinity. They turned their game assets into NFTs. Imagine you playing Candy Crush, and the more you play the more gems you get to buy things with. What if your gems can be sold to me? When you make those gems NFTs, you own those gems, not the Candy Crush developer, and you can directly sell them to me. A similar concept was adopted by Axie Infinity and it became a multi-billion-dollar project in a matter of months. With NFTs, you can create interconnectivity between games and you can let people play games and earn money, creating a whole ecosystem, which is something that we see happening right now. Companies like Unreal Engine are working closely with NFT companies to make this a reality in the next few years.”

Benefit for Sri Lanka?

The team at Hyperglade strongly believe the value NFTs can bring to help elevate Sri Lankan digital artists to international space, to be noticed by a larger audience, and have been consistently working towards bringing local talent out to the world.

Sometimes clients can have a valuable NFT project but not have an artist to work with. “We have a portfolio of creators from Sri Lanka, and if the client wants us to get the artwork done as well, we reach out to the artist and get them to create the NFT artwork, and that way they can directly work with companies with large NFT projects while still in Sri Lanka and go global very easily.”

In fact, Hyperglade shared that they’ve even successfully organised and held an NFT auction in June last year, which allowed a number of Sri Lankan creators to auction their artwork as NFTs, with the highlight of the auction going for nearly 1,300 USD.

Staying on the cutting edge

Although proven that NFT and blockchain technology will play a massive role in the future to come, being a player in such an early stage comes with its fair share of risks and drawbacks due to it being a space that is changing and developing at a breakneck pace. 

“If you’re a creator or an innovator, you’re going to have to stick around for a long time, at least 5-10 years,” shared Co-CTO of Hyperglade Dulitha Wijewantha. “You need to be ready for the long haul. If you’re looking from the perspective of a trader, you still need to be inside this space because things change every single day. Sometimes the bus has already left when you’ve thought about it.”

NFTs and cryptocurrency, another product of blockchain technology, are losing some of their early appeals at the moment. However, both Dulitha and Kalana agree that these are all part of the growing pains which come with creators and developers trying new ideas, out of which useful products and services will slowly but surely emerge from the ashes, much like modern tech giants that exist today did in the tech boom of the mid-2000s.

An exciting new world

But this undoubtedly brings on a lot of uncertainty into the mix. However, the team at Hyperglade, including Kalana and Dulitha are optimistic about the future, believing there is a real value in being so early to space. It also brings a sense of adventure and excitement, not knowing what treasures they may innovate and create as a result, similar to pioneering innovators and creators of yesteryear from their respective fields of study.

“The NFT space is extremely exciting, and being something completely new, we are able to innovate,” he shared. “There are no set rules and there’s always something new every day. You get to try what you want and see what works. Sometimes you can come up with some incredible utility cases and we do have a few in our pipeline.” They revealed that this includes a completely new marketplace for NFT trading which will be faster, and more friendly for those new to the world of NFTs to operate.

“Also this space is all about collaboration and working together, rather than competition. It’s fast-growing and we as founders are very excited about what is to come.”y Shanuka Kadupitiyage

The world completely changed when the internet moved from text-based pages to dynamic, content-rich pages and platforms such as social media. This shift now known as Web 2.0 has created everything we know about the digital space. But with the development of technology, Web 3.0 is on the verge of becoming mainstream, and Ceylon Today learnt of a group of young innovators who are looking for an opportunity in this brave new space.

Hyperglade

“We are a Hyperglade and NFT service provider. We’re a team of startup founders who have previous experience building successful startups. We saw the potential for artists to make sizeable profits through the sale of NFTs and we wanted to help the creators of Sri Lanka through NFT asset technology, because there is a lot of potential in the space,” explained Co-Founder and Co-CEO Kalana Muthumuni, part of the team whom we were in discussion with.

Hyperglade has been actively developing new technology that has improved the NFT space. “We looked at how to make the NFT space more accessible and came up with a product that shortens the customer journey by over 60%, and then came up with a services arm that helped any creator or brand to get their NFT collections out. Some companies or creators have amazing NFT ideas but don’t have a full idea of how the NFT space works, that’s where we come in,” they shared.

Ceylon Today learnt that Hyperglade also is involved in project management, marketing and a number of other arms that help artists focus on their creative effort while letting them handle everything else.

“We are also involved in a CSR project called Heal Sri Lanka, which uses artwork inspired by the struggle of the people. We’ve converted them into NFT and 90% of the sale goes to buy medicine for the ongoing medicine shortage, using the WatchDog and GMOA dashboards, and 10% to the artist as well because we want to help the creator as well.”

What’s an NFT?

If NFT is a word that’s a little new for you, NFTs (also known as Non-Fungible Tokens) were a big topic of discussion that rose to massive popularity in the past months. When a digital asset (for example, an image) is given an NFT, it’s possible to use blockchain technology to track ownership of the image, meaning it allows you to own and trade digital assets for money.

“There is this one, very popular NFT project, a mobile game called Axie Infinity. They turned their game assets into NFTs. Imagine you playing Candy Crush, and the more you play the more gems you get to buy things with. What if your gems can be sold to me? When you make those gems NFTs, you own those gems, not the Candy Crush developer, and you can directly sell them to me. A similar concept was adopted by Axie Infinity and it became a multi-billion-dollar project in a matter of months. With NFTs, you can create interconnectivity between games and you can let people play games and earn money, creating a whole ecosystem, which is something that we see happening right now. Companies like Unreal Engine are working closely with NFT companies to make this a reality in the next few years.”

Benefit for Sri Lanka?

The team at Hyperglade strongly believe the value NFTs can bring to help elevate Sri Lankan digital artists to international space, to be noticed by a larger audience, and have been consistently working towards bringing local talent out to the world.

Sometimes clients can have a valuable NFT project but not have an artist to work with. “We have a portfolio of creators from Sri Lanka, and if the client wants us to get the artwork done as well, we reach out to the artist and get them to create the NFT artwork, and that way they can directly work with companies with large NFT projects while still in Sri Lanka and go global very easily.”

In fact, Hyperglade shared that they’ve even successfully organised and held an NFT auction in June last year, which allowed a number of Sri Lankan creators to auction their artwork as NFTs, with the highlight of the auction going for nearly 1,300 USD.

Staying on the cutting edge

Although proven that NFT and blockchain technology will play a massive role in the future to come, being a player in such an early stage comes with its fair share of risks and drawbacks due to it being a space that is changing and developing at a breakneck pace. 

“If you’re a creator or an innovator, you’re going to have to stick around for a long time, at least 5-10 years,” shared Co-CTO of Hyperglade Dulitha Wijewantha. “You need to be ready for the long haul. If you’re looking from the perspective of a trader, you still need to be inside this space because things change every single day. Sometimes the bus has already left when you’ve thought about it.”

NFTs and cryptocurrency, another product of blockchain technology, are losing some of their early appeals at the moment. However, both Dulitha and Kalana agree that these are all part of the growing pains which come with creators and developers trying new ideas, out of which useful products and services will slowly but surely emerge from the ashes, much like modern tech giants that exist today did in the tech boom of the mid-2000s.

An exciting new world

But this undoubtedly brings on a lot of uncertainty into the mix. However, the team at Hyperglade, including Kalana and Dulitha are optimistic about the future, believing there is a real value in being so early to space. It also brings a sense of adventure and excitement, not knowing what treasures they may innovate and create as a result, similar to pioneering innovators and creators of yesteryear from their respective fields of study.

“The NFT space is extremely exciting, and being something completely new, we are able to innovate,” he shared. “There are no set rules and there’s always something new every day. You get to try what you want and see what works. Sometimes you can come up with some incredible utility cases and we do have a few in our pipeline.” They revealed that this includes a completely new marketplace for NFT trading which will be faster, and more friendly for those new to the world of NFTs to operate.

“Also this space is all about collaboration and working together, rather than competition. It’s fast-growing and we as founders are very excited about what is to come.”

By Shanuka Kadupitiyage