Dappchat with our new Director of Metaverse and NFT Strategy

Earlier this year we had the incredible opportunity to work alongside rap legend Eric Sermon to create a limited edition NFT wearable of the famous Def Squad jacket to be used in the game Decentraland. That opportunity was all thanks to our newly appointed Director of Metaverse and NFT Strategy, Fareham Whiteley. With his extensive knowledge in the Metaverse and NFT space, Fareham has carved a name for himself as a trusted strategist within the emerging Web3 market. We sat down with Fareham to pick his brain about all things Web3, Metaverse, and NFT. 

Web3 is in the early adoption phase, and strategically aligning your business in this space is imperative. What are your tips when it comes to broad-based Web3 strategy?  

Web3 technologies offer previously inconceivable new ways of interacting with data. Now is the time for organizations to start experimenting with integrating web3 technology into their existing workflows and offerings. Companies who take action now will be prepared for the widespread transformation, while those that wait will always trail behind their rivals. During the next several years, web3 will take the place of present standards and develop into the internet of the future, giving consumers more power over the web and decentralizing ownership and management. In terms of web3 strategy, I favor agility because this technology is dynamic and ever-evolving, creating new possibilities, applications, and interactions as it advances.  

What drew you into the Web3 space and continues to pique your interest?  

Since I began trading cryptocurrencies in 2012, I've had the chance to observe the market's growth. Over the past ten years, I've read quite a lot of white papers on cryptocurrencies and researched the range of technologies they offer.  Although Web3 has been around for a while, it didn't begin to gain popularity until last year. The capacity to not only engage with the technology but also to own and produce it, is one of the most intriguing features of web3 to me. 

What was your very first experience like in the Metaverse/NFT space? 

My first experience interacting with the decentralized metaverse space was back in 2017 when Decentraland had their ICO (initial coin offering) in preparation for their ILO (initial land offering) auction. I had bought a bunch of Mana in speculation of their land offering auction that was going to be taking place a few months down the road. I participated in the ILO and purchased my first parcels of metaverse land. These parcels were distributed in the form of NFTs which I have been holding and developing on them ever since. I started collecting NFTs back in 2017 when Crypto Kitties and Cryptobots (the first P2E game), were launched, and I minted some of the very first of their kind. I have been collecting both collectible and utility based NFTs ever since. Because I believe that within the next ten years the metaverse will dominate social media and because my daughter plays Roblox, I have firsthand knowledge of the demand for the ability to upgrade avatars. As a result, I am now quite bullish on NFT metaverse wearables. Some of the earliest wearables that Roblox artists produced are among the most expensive and difficult to find. 

What do you think is in store for future NFT projects? Any advice you could give to those just entering the space?  

NFTs are an excellent approach to authenticate products, whether they are digital or physical, and for consumers to have proof of ownership of those goods. Everything from event tickets to luxury products, real estate, vehicles, watches, music, and literature will undergo a transformation as a result of this technology. In my opinion, everything we use in the physical world within the next ten years will be in some way tied to NFTs. My advice to anyone entering the market, especially in the collectible NFT space, is to do their research, to not get caught up in "Fear Of Missing Out" (FOMO), and to focus on projects that they enjoy rather than trying to chase profits. 

With your new role at dapphaus as the Director of Metaverse and NFT strategy, can you give us some details on current projects you’re working on? 

I am currently working with some big brands on their NFT utility and drops, as well as developing a novel NFT marketplace and some metaverse deployments with some smaller companies to assist them in benefiting from the increased marketing value offered by these new technologies. Every day, I research new commercial applications for these technologies to see how they might enable companies to stay one step ahead of their competition. 

We’re excited for this new venture with Fareham and we’re extremely confident that we will be seeing some incredible things from him in the future.