Q&A with CEO of Enevti: Web3 social media super app through redeemable NFTs

Enevti is an award-winning Web3 social media super app connecting creators and fans through redeemable NFTs. Established in 2021, Enevti has been recognized by the Indonesian government for its work to advance technology. Designed for mobile use, Enevti is built on Lisk- the accessible blockchain platform for building applications with JavaScript. Powering a variety of utilities, Enevti allows users to access exclusive content, gifts, tickets, and other engagement use cases, bringing creators and fans together.

The following are interview Questions and Answers with Aldo Suhartono Putra, CEO and co-founder of Enevti.

Tell us a bit about yourself and your role at Enevti

Sure, my name is Aldo, and I’m from Indonesia. I am passionate about startups and technology. Previously, I worked for an AI-based interior design app, before moving to a company that was building an incentivized smart city application that won a national hackathon. My journey in Web3 started in 2017 as an enthusiast and holder.

I’ve always believed that blockchain had the potential to become a real solution for many of today’s issues, despite its widespread association with speculation. That is why I actively spread my belief in blockchain by not only engaging as a public speaker at many events, including one with the Former Minister of Communications and Informatics of the Republic of Indonesia, but also by striving to transform that belief into a reality by starting Enevti!

As CEO of Enevti, it has always been my responsibility to lead the path and set a clear vision for our organization in a sustainable way. Currently, I am actively involved in Enevti’s product development. I believe that it is important to direct the

focus towards our product and service to make sure that it is on the cutting edge of innovation; the Web3 space right now needs a lot of innovation to move forward.

That’s what tech leaders should be doing to ensure innovation. Elon Musk once said that too much “MBA-ization” may not be great: yes, finances and meetings are important, but we should also focus more on the product or service itself and keep innovating.

What exactly is Enevti?

Enevti is an award-winning web3 social media super app that connects creators and fans through redeemable NFTs. We have a vision to “Make #NextEvolutionOfNFT Easy!” which will push NFTs beyond the sphere of the arts and collectibles. Enevti NFTs are empowered with various utilities, such as privileged calls, exclusive content, gifts, tickets, and much more. With Enevti, creators and fans can mint, collect, and monetize redeemable NFTs in a super easy way using just our mobile app.

We take product building seriously and are proud to hold several awards for this. Enevti was named the 3rd Indonesian National Winner at IdenTIK 2021, and we were officially appointed by the Indonesian government to represent our country at the upcoming ASEAN ICT Awards 2022. This shows our level of dedication to building an innovative product that our users will love.

How do you see Enevti evolving in the future?

Of course, Enevti will always evolve. Right now we are still in a very early stage. If you refer to our roadmap, there are a lot of exciting things that we can expect in Enevti’s future. Our main goal is to support the mass adoption of NFTs. To do that, we need innovation and accessibility. That’s why we are actively developing various NFT utility innovations, and we already have an alpha version of our app.

In the future, we expect to collaborate with a wide range of creators and even brands to be able to explore new kinds of NFT utility innovations. This is the “Samaya” phase in our roadmap. Beyond that, we also see ourselves evolving as an open and interoperable NFT utility ecosystem that empowers users across multiple blockchain networks.

This is possible since Enevti is built on the Lisk SDK platform. In the future, our blockchain will be able to connect and integrate seamlessly with other blockchains inside and outside Lisk, thus enabling a multitude of use cases of NFT utilities beyond what’s currently possible. Imagine the ability to import an NFT from another chain, and turn it into a redeemable NFT within our chain. Imagine transferring an NFT from our chain, and locking it as a Defi collateral on another chain.

The possibilities are endless here! We refer to this phase as “Kepler” in our roadmap. With ever-evolving utilities, interoperable blockchain, and easy-to-use apps, we want to replicate what other social media platforms have done in the past, and then go one step further. If Instagram has enabled people to become content creators, then Enevti will evolve to enable people to become next-gen digital artists and creators.

Since we’re reaching the end of 2022, can you provide us with insights on the current NFT marketplace and how you think it will develop in 2023?

Of course! The current NFT market is extremely interesting, especially if we look specifically into the NFT utility category. In early 2022, research showed that the NFT utility market cap increased by around 13%, while the rest of the NFT category decreased. Other than that, we are also starting to see companies like Starbucks implementing a new kind of customer loyalty program through NFTs.

For me, it shows that utility is becoming more and more relevant to the NFT industry, and it is starting to shift this space from pure speculation to a feasible solution. And I believe this NFT-as-a-Solution trend will continue in 2023 and beyond.

However, despite this, NFT utility is still somehow not accessible to all creators. Not everyone can implement NFT utility, because you need to have in-depth technical knowledge, including knowledge of how to code a smart contract. That’s where Enevti comes in!

We will help creators by getting rid of these technical barriers: no-code and no hassle so they can unleash their creativity. And this, we believe, will enable a new wave of utility adoption, powered directly by creators.

Do you think that the current NFT industry has space for improvement and if yes, what do you think it is?

The current NFT industry definitely has a lot of space for improvement, especially if we are aiming for the mass adoption of NFTs. If we refer to statistics, there are 5.03 billion internet users, but there are only 300 million total Web3 users worldwide, which means Web3 is just reaching 6% of all internet users.

With this consideration in mind, we need to improve the NFT space and make it accessible to all internet users. I believe the most crucial improvements are needed in use cases and user experiences.

As of right now, the majority of NFTs use cases are only limited to arts and collectibles. It’s an amazing use case of course, but it’s not all NFT can do! With ownership and the transparent attributes of NFTs, we can utilize NFT to explore a new kind of utility, or even improve an existing activity that we are familiar with.

That’s definitely one major thing that can tremendously improve the NFT space. Not to mention that by making NFTs redeemable, we can reaffirm the real intrinsic value of an NFT, bringing to the foreground the benefits that users can experience.

However, the cutting-edge technology and use cases will be useless if users don’t know how to use it. That’s why I strongly believe that a user-friendly experience is also important. We need to make NFTs more ‘human-centric’, so that it doesn’t feel complex and intimidating.

This user-friendliness will ultimately open Web3 and NFTs to user audiences that are new to the decentralized space, which will make NFTs ready for mass adoption.

Why do you think that the NFT industry as a whole is important for users and consumers?

I believe that the NFT industry is important because it can simply make our life better! Web3 and NFT technology right now are still in an underdeveloped phase despite the potential they have to disrupt our daily lives. For Web3 to bring an added quality to our life we need real-world use cases with real-world benefits.

For example, let’s talk about social media use cases. Right now, social media is still in an “influencer economy” era, where creators monetize their audience’s attention rather than their creations. Creators face a lot of revenue cuts, such as platform cuts

and payment gateway cuts, since they are intermediaries. In the future, we will enter a creator-to-fans monetization era that is called a “creator economy” era or a “creator-as-a-business” era, with peer-to-peer ownership and the trusted nature of NFTs and Web3.

Another example, regards digital goods. Do you know that in 2021, we suffered a loss of about €3.58B because of digital goods fraud? This digital goods category also includes gaming, gambling, gift cards, and of course tickets. By utilizing the immutable and secure technology of NFTs, we can to fight those frauds, by turning those redeemable digital goods into NFTs.

Of course, the Web3 space and NFTs are capable of even more disruption. Clear NFT use cases will definitely make people’s lives better. So let’s build NFTs for people, not the other way around!