VNT Vention is a global marketplace site focused on artists and their creations. It allows anyone to create, buy, sell, or even collect digital merchandise with minimal platform fees. It is the first of its kind in the Philippines and the main promoter of the site seeks to attract more local artists such as actors, musicians, painters, authors, etc. on this unique marketing platform.
Julius Santillan, founder of the Vention App marketplace, told the Manila Times why the Vention app would not only be a welcome addition to the plethora of local arts marketing platforms, but more importantly, how it would end up paving the way. to a boom, perhaps even an explosion of interest in Filipino arts in all their varied forms around the world. (The Q&A, in Filipino and English, has been translated into English. – Ed)
The Manila Times (TMT): Please share your experience with NFT that led you to set up Vention? Explain that Vention is the first in the Philippines.
Julius Santillan (JuS): Years ago I became interested in cryptocurrency. We have a group that has explored how the cryptocurrency system works. This is where we discovered NFT – a non-fungible token – where you can digitally sell your artwork or unique items. There are many NFT markets in the world, but no Filipino was engaging in them. So that’s when we decided to get into blockchain technology.
TMT: What’s so special about NFT? Why should Filipino artists sell their work via NFT? Are there any prominent artists and showbiz personalities who are now in NFTs?
JuS: The best tricks for NFT are paintings and collectibles or unique items. Non-fungible assets are not interchangeable. An item’s identity is important to NTF – its history, story or owner that makes it unique. For example, Stephen Curry’s NFT, a digital replica of the sneakers he wore when he broke the record three-pointer in one of his games. There are many sneakers, but the identity of this particular Stephen Curry sneakers makes them unique, so their value is not the same as other sneakers.
We have many Filipino artists, famous men or silent artists. To support them, we have created the Vention app [marketplace] serve as a platform to showcase their talents all over the world.
Filipinos will not be left behind on this point. So when we launched Vention App as the Philippines’ first NFT Marketplace, the admirable Filipino art came out in droves, and we expect more to follow now that the Vention community is growing. In other countries, international celebrities like Paris Hilton, Ellen Degeneres, Snoop Dog, Stephen Curry and many more are doing NFTs. Here in the Philippines, we know that Heart Evangelista and recently Bea Binene posted on their social media account that they are also into NFTs.
TMT: What is the status of NFT in the Philippines? How has the pandemic impacted its existence and viability?
JuS: The status of NFT here in the Philippines, I couldn’t say anything but full of positivity. Although we have just started, unlike other countries where they are very aware, we are moving in this direction and if we are able to master how NFTs work, many will benefit. NFT is actually a blessing for us, especially during this pandemic. Since the pandemic, almost everything has been done online, and that’s how NFT works in the cryptoworld.
TMT: What future for NFT in the years to come? Let’s look at the pandemic period when it is officially declared endemic.
JuS: I think NFT is the future, whether the pandemic is officially declared endemic. Even now, based on our subsequent research, it could be said that cryptocurrency will be the most powerful currency in the coming years. In fact, in other countries, if you look at international news, the world’s top economies have started using cryptocurrency. So in Vention App we are increasing the awareness of our fellow Filipinos so that we can be helpful.
I remember, YouTube started in 2005 and it wasn’t as well known because majority of viewers still preferred broadcast media (TV and radio). In 2010, I read an article saying there was business to be done on YouTube; there were no famous Filipino vloggers yet, but there were some foreigners vlogging on YouTube. And usually it was just music videos from YouTubers.
I was told that in less than 10 years, a large percentage of Filipinos will switch from broadcast media to social media because we love using our cell phones. And that’s what happened; so many influencers have become famous thanks to YouTube. And because the numbers were crowded, they extended to Spotify. It was just a music platform before, now it has podcasts where you can listen to exclusive stories from artists and content creators, and I heard they’ll start offering videos like YouTube for them influencers or vloggers.
I tell you this because we anticipate that as vloggers advance in their profession, their next platform will be the NFT marketplace. That’s why it’s good to always be the first. Start setting up your NFT market space now by Vention App. It will be our job for you, we will help you get started.