Thread by @The_ReadingApe

We are so charged up to share our pod summary from @zima_red with host @AndrewSteinwold featuring @benlakoff as he shares about @DefiNft, a protocol that allows users to turn any NFT into a wallet that contains interest-bearing tokens.

Let's go!

@zima_red @AndrewSteinwold @benlakoff @DefiNft Who is Ben Lakoff?

⚡️ A chartered financial analyst turned entrepreneur
⚡️ Got into crypto in 2017 via angel investing in a Thai crypto exchange
⚡️ Started angel investing because of @tferriss publication - the real-world MBA
⚡️ Holds a podcast called @investinalts

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts About NFT/collectibles

⚡️ First heard of NFT with @CryptoKitties - thought it is another speculative play
⚡️ Took some time to come around to the idea of NFT
⚡️ Digital art 🎨 is the gateway to understanding the value of NFTs

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties "My parents never bought a $50,000 piece of art and hung it on the wall and said, you know, look at this. This is beautiful, but it's also an investment and we hope to sell it for more and you know, it will hold its value."

- Ben Lakoff

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties What is Charged Particles about?

⚡️ Created by @robsecord in late 2019, came up with proof of concept in early 2020
⚡️ Ben joined him in mid-2020 to flesh it out
⚡️ Turns any NFT into a wallet that can hold other ERC tokens and even NFTs

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord "So it provides users with the ability to turn any NFT into a basket that can hold other assets. So that's kind of the high-level overview of what it does."

- Ben Lakoff

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord ⚡️ The Interest is programmable - can be sent to another address
⚡️ The new token mechanic allows for innovative stuff in the NFT space
⚡️ E.g. Deposit 100 $DAI into an NFT and the protocol will auto-convert to $aDAI from @AaveAave which is an interest bearing $DAI

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord @AaveAave Use cases:

⚡️ Yield bearing NFT tickets to events - encourages attendees to buy earlier so that the interest earned will offset the cost of the tickets
⚡️ In-game sword ⚔️ that is deposited with an interest-bearing asset, with accrued interest representing the strength 💪

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord @AaveAave ⚡️ Time lock on the principle held in an NFT until your children 🧒 are of age
⚡️ NFT can be configured to be destroyed upon withdrawal of principle
⚡️ Discourage dumping of NFT by setting up a system that the owner can receive interest only after a minimum holding period

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord @AaveAave "So ideally, the first thing that people ask when they see or interact with an NFT is: Does it have a charge? Does it contain other tokens and this would be enabled by Charged Particles protocol?"

- Ben Lakoff

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord @AaveAave ⚡️ 5 yr vision is for Charged Particles to be NFT and token agnostic
⚡️ Fav NFT: None, but @xbrucethegoose has a couple of good ones
⚡️ Expects more adoption of art in digital format, more NFT game items in well-known games

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord @AaveAave @xbrucethegoose Links:

⚡️ Podcast link: anchor.fm/andrew-steinwo…
⚡️ Substack article link: thereadingape.substack.com/p/zima-red-ep-…

Special thanks to Andrew for this episode. We learnt a great deal about this innovative and interesting protocol!

@zima_red @AndrewSteinwold @benlakoff @DefiNft @tferriss @investinalts @CryptoKitties @robsecord @AaveAave @xbrucethegoose Like our work?

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~ End Thread