Recently, it has become increasingly common to hear about projects resembling the genre of science fiction, etc. Among them, MetaPax stands out. Today we will talk with Evgeny Kayumov.
A.B: Evgeny, today we will talk about the MetaPax, as well as your path to this project and what inspired you. Let's start with your background, what industry do you come from, what did you do in business before?
E.K.: I started my journey more than 15 years ago in the field of mobile payments. Back then, this segment was still developing and I was one of the first in the industry. As a result, the business quickly grew to impressive volumes. After that, I started doing my own projects. Some of them have become very successful and have taken a leading position in the market. Eventually I came into the world of blockchain. In my opinion, this is the fastest growing, most promising market at the moment.
A.B:When did you first hear about blockchain, Bitcoin, and what did you think about it?
E.K.: It was probably in 2015. For me it was wild. Despite the fact that some of my friends and acquaintances were already slowly starting to invest in cryptocurrency, I denied it. It seemed to me that these were candy wrappers that were not backed with anything, and this story wasn't long. I was on the side of the classical business. But now I have radically changed my mind and started taking blockchain and cryptocurrencies seriously after I actively started using them and appreciated all the advantages.
A.B: What did inspire you to start MetaPax? How did you come up with the idea to take on such a large-scale, complex and at the same time interesting project?
E.K.: I've always been interested in conditional 'teleport', where you can be anywhere in the world while actually being at home. I had an idea about 4 years ago. It consisted of developing glasses with a camera, with microphones, which would allow you to live your life through the eyes of another person. Renting not a person but their time and controlling their actions. It seemed so interesting and exciting to me that I started researching the market and seeing if it could be implemented. I thought about how it could be done.
A.B: Did you have any difficulties in the beginning?
E.K.: At the time, it was technically difficult to implement the idea. In addition, network 4G coverage was poor at the time. That was a very important point, because the picture had to be in real time to avoid delays. But as time went on, the situation improved in a positive way. I delved deeper into blockchain, understanding how it works and the advantages it can bring to a project. Next, my partners and I set about developing it.
A.B: What is the role of blockchain here and who are the partners you mentioned that are helping to implement this project?
E.K.: Anyway, the project has a strong team and advisory board, including companies such as: Velas / CryptoAngel / IDOresearch Ventures / Tehnobit Systems/ Etherium Foundation. Blockchain is the main link here, because the platform implies a huge number of transactions, such as donations, subscriptions, payment for the Paxers renting time - and all this should be done instantly and anywhere in the world. If we take the story of classic payment aggregators such as Visa, MasterCard, we have, firstly, problems in covering the whole world with payments, and secondly, we have regulatory issues. Accordingly, we are not able to carry out these operations instantly and without commissions, as we currently do with the help of the blockchain.
A.B: What is Bitcoin for you? When you first encountered this, what did you think of it?
E.K.: Firstly, Bitcoin, in my opinion, is a great technology. I like the foundation, I like the vector of the development that Bitcoin has set. At the same time, I do not consider Bitcoin as a payment tool for daily settlements due to the high volatility and speed of transactions. In my opinion, stablecoins are better suited for this, but at the same time, I am very grateful to Bitcoin for how it changes the world and for the opportunities it has opened for all people.
A.B: Many people say that Bitcoin is a digital gold. Do you agree with this statement and what is Bitcoin for you in this case?
E.K.: I agree with this statement due to the fact that for me Bitcoin has a very large intersection with gold in the sense that it is more suitable for storage, for the transfer of capital in the same way as gold, rather than for daily settlements. Conventionally, it is inconvenient to pay with gold now for some services. It is the same with Bitcoin: it is ideal for saving capital and for increasing it, but not for settlements.
A.B: Do you prefer Bitcoin or altcoins — what do you think is more promising to invest in?
E.K.: Initially, I preferred altcoins more, because they give faster growth, and, accordingly, this strategy appealed to me more. At the moment, I do not have the task of rapidly growing capital, I probably have the task of preserving it, therefore, only fundamental coins, such as Bitcoin or Ethereum.
A.B: What do you think about this and will the legalization of Bitcoin help other countries to develop their economies?
E.K.: I believe that the legalization of Bitcoin and other cryptocurrencies will undeniably have a positive impact on many areas of life in developing countries and already developed ones. In my opinion, this is the right decision. The only thing is that I have concerns about the fact that all this can be overregulated and there will be problems.
A.B: Regarding regulation: you also have an interesting, I would say “sophisticated” ecosystem for the project. What jurisdiction did you choose and why?
E.K.: Registered company is in Seychelles, operating company is getting set up in Lithuania. And we are now considering Dubai, because, let's say, Dubai is now doing everything to ensure that large, technology companies working with blockchain come here. This is admirable.
A.B: At the moment you are doing business in crypto, and the project already has a name on the market. How much investment do you currently have for implementation?
E.K.: Initially, we started doing the project at our own expense, with the money of the founders. But, given the scale of development and complexity, we made seed and private rounds, which were completed even before the official announcement. It so happened that we showed our platform, which we are doing, to several friendly funds, they picked up this idea, and brought other funds. And as a result, we collected much more applications for investments than in the round. Of course, we also experienced some small difficulties. Nevertheless, the focus of the project is on the global scale and now we are actively looking for European and American funds that we would like to work with and to which we have left some part of the allocation.
A.B: Who managed to get in? I know you've put together a hard cut. Who entered the project? Who are your investors?
E.K.: Let me start by saying that we have a concentrated team of real professionals. And in addition, they are experienced investors. The project is really lucky to have gathered such enthusiasts from practically every segment - development, research, sales, marketing, etc. Vadim Korepov, CEO of the project, believes that one of the main components of success is a powerful team.
A.B: Where do you like to work on your project? Where is your base and what place energizes you to implement MetaPax?
E.K.: I tried to work in different locations. I can name examples of locations where I absolutely cannot work: for example, Barcelona and Bali - for me these are some mysterious resort places where I simply cannot focus and the productivity of my work is as low as possible. At the same time, there are probably two main locations where the productivity of my work is at the highest level: this is Dubai and this is Zurich.
A.B: What do you feel when you are in Dubai? How much does this place inspire you? Some consider it to be a crypto paradise. What do you think about this?
E.K.: In my opinion, Dubai is the crypto capital of the world at the moment. I really like that the most intelligent guys from the crypto industry gather here. My friends and I even have some kind of joke that if you need to meet someone from the crypto industry, just fly to Dubai.
If not, just wait two weeks. And this is true - everyone is here. And personally, according to my observations, the productivity of work in Dubai is noticeably higher than in any other locations. I noticed that in a week in Dubai I do more work tasks than in a month in Europe.
A.B: MetaPax has a difference from all other startups in that you have a technological product - for example, smart glasses. Where are they currently produced and what do you plan to do with them so that all Paxers have them in the future?
E.K.: Starting the development of the platform, we initially did not follow the standard scenario in which we build the entire product on our glasses. We followed the scenario where we give the opportunity to connect to the platform with any compatible device. Conventionally, if you have third-party glasses such as Google Glasses, now Xiaomi is announcing smart glasses and so on, you can connect to the platform with these glasses without having to buy additional devices. And this greatly increases the attractiveness of the product and makes life easier for end users.
A.B: Describe the situations where MetaPax can be used and for whom it can be useful, who can use your product and for what purposes?
E.K.: An absolutely huge range of applications, starting, for example, you are a journalist and something is happening in the world right now - for example, a volcanic eruption in Bali. Instead of looking for the journalists who are there, agreeing with them, or flying there, you can go to the platform, rent the nearest Paxer in a few clicks, which will go to the volcano and you will see everything from the first person. Accordingly, you will be able to cover this situation. Allegedly, you have eyes anywhere in the world.
A.B: Have you personally tried this product?
E.K.: Yes, we tested the technology in a peculiar way. We connected all components, we tested different locations such as Dubai, Bali, Moscow, Cape Town. Technology has shown the right to exist and everything works exactly the way I imagined and wanted to implement. At the moment, there is an active development phase underway. We plan to show a beta version of the platform where you can rent a Paxer and be anywhere in the world this year. In my opinion, this is a very interesting experience and there is nothing like it on the market now.
A.B: When will we be able to touch and try MetaPax? When will it be available to ordinary people like us to test and feel with our own eyes this world that the Paxers broadcast.
E.K.: As mentioned above, we are already actively developing and plan to show the current beta version in the 4th quarter of this year. Then you can open the platform, rent a Paxer anywhere in the world and see the world through its eyes, controlling it remotely. Moreover, we have connected partners for asynchronous translation into more than 100 languages, so that it is possible to contact Paxers even if you do not know their language.
A.B: How will the Paxers earn? How will they get paid for providing this service?
E.K.: We have two scenarios for Paxers. The first scenario is when a Paxer rents out their time based on ratings, skill, or vehicle availability. This may be in the range of $20-$50-$60 per hour. And, accordingly, the Paxer performs any assignments, or simply shows the world with his own eyes for entertainment purposes.
And the second use case is bloggers, streamers and some famous people who already have an audience and broadcast their activity. Now they will be able to do it on a completely new level with a completely different involvement. For example, this could be the lead singer or drummer of Metallica. He starts broadcasting on the platform, puts on glasses, enters the dressing room. And all the users who joined the broadcast, they live it through his eyes, they see how he greets other artists in the dressing room. He goes on stage, picks up sticks, starts playing drums. And you see it through the eyes of this drummer, you see the hall, you live a completely different experience than current technologies can provide.
A.B: In what currency will they receive remuneration, if we talk about the first scenario? Will it be a native MetaPax token, or is it Velas, or maybe Bitcoin?
E.K.: All settlements on the platform will be in a native MTP token, built on the Velas blockchain. And, moreover, we bear all the transaction costs on the platform. Accordingly, for users, all this will be as fast, transparent and convenient as possible.
A.B: Now all over the world there are many conferences in different countries. Do you also plan to represent the MetaPax project in Latin America, in the USA, in Europe, and also here in Dubai?
E.K.: Yes, of course, we plan to make a presentation on the project in Dubai and in the future we plan to present it at all blockchain conferences, at all streaming events. We already have certain agreements, so we are also doing a lot of work in this direction.
Here it is worth noting the role of our speaker, Artem Isay. Artem is a recognized expert in product development and team scaling. He is also one of the first crypto-investors.
By the way, concerning the topic of speakers, it is impossible not to mention Vladislav Martynov - a well-known entrepreneur-investor whose projects are widely known. He will also be our speaker at future events.
A.B: As a founder, what do you think, in the perspective of 3-5 years, which countries will have more Paxers? Where will be the mass adoption of MetaPax?
E.K.: At the moment, it is difficult to predict the geography where the largest number of Paxers will be concentrated, because I think the market will equalize where there is more or less. But people's interest in our online communities is steadily growing. Conventionally, if there is a great demand for Paxers in Dubai, there will be a lot of them in Dubai. If there is a big demand in Ukraine or in Europe, there will be more of them in these places. We do not focus on any particular markets. We look at the project as worldwide. And the market itself will equalize the number of required Paxers.
A.B: You know, in Silicon Valley there is a race for unicorn status. How do you see how many years MetaPax will reach a billion dollar capitalization?
E.K.: The streaming market, the market of social platforms is so large and so dynamically developing that we can easily reach a billion dollar capitalization even at the beta testing stage, as it has a very big potential.
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