Technology has disrupted every other industry except real estate.
That’s according to Ryan Pineda, the CEO and founder of Tykes, a non-fungible token (NFT) that’s making the rounds for being “one of the highest trending” projects on utility and interest — among the likes of “Bored Apes and CryptoPunks.”
Pineda and Amr Samaha, the co-founder and COO of the project, spoke with Benzinga about how Tykes will serve as the go-to on-ramp for Web3 and blockchain in real estate.
Team Analysis: Pineda's name may sound familiar because he has amassed a massive viewership on Alphabet Inc.-owned GOOGL GOOG YouTube, where he shares wealth tips.
Pineda also hosts masterminds like Future Flipper, through which he met Samaha, an architect and real estate developer. The two became friends and realized they could use technology to bolster their efforts in real estate.
In real estate, “the billions are going to be made through the tech side of things,” Pineda said. “I wanted to start and own some of these technology companies that will change the game.”
More On Web3: Web2 is often referred to as the version of the web that introduced social platforms and interaction between users.
With Web3 comes economic incentives (i.e., tokens) that help communities create the contexts for projects to launch and grow, as well as users to monetize on their inputs.
NFTs are an example of such tokens which live on blockchains. They are visual representations of ownership in this new iteration of the internet.
Pineda’s foray into NFTs was mainly “expensive" and “costing almost a million bucks." But the more money he spent on learning about NFTs, the value of the utility-based versions became most interesting to him.
"I bought an NFT that provides holders the right to buy memberships to a golf course," Pineda said. "You’ve got this community of people interested in golf, and they’re interested in using crypto and NFTs to allow for voting as a community."
Pineda now aims to use NFTs to engage his “community of high-level, like-minded people” on new investment opportunities and partnerships.
He later founded a project and named it Tykes, a play on the word tycoon, tapping individuals from the likes of Neflix Inc NFLX and Walt Disney Co-owned Lucasfilm.
The goal is to "make sure that every aspect of the project was done right,” Samaha added.
“A lot of these Web3 people aren’t so smart if you look at how bad these projects are run over the long-run,” Pineda said in a discussion on “how flawless” some thought Tykes was executed.
Initially available through a credit-card presale, the NFTs could be purchased, pre-mint, at a lower cost. Through this pre-sale, the project brought in over $2 million, helping offset costs incurred during development.
"When it came time to mint, NFTs were all sold out and we were like the number one trending after 24 hours," Pineda added. "I do not recall working nearly 24 hours, 7 days a week in a very long time. It’s necessary for the success of the project, now, and I’m excited about the plans we have for our holders."
NFT Benefits: For holding a certain number of Tykes NFTs, users get access to things like “the Boardroom," which is touted as "the most exclusive room in the project’s ecosystem."
"The people in this room will have a say on the future of Tykes," Pineda explains. "They will also have access to deals and opportunities” that may relate to the real estate ventures he is engaged in.
NFT holders will have exclusive access to massive events like "the first ever real estate and crypto event featuring crazy guest speakers and awesome networking opportunities."
Bonus Offers: Also available is a $1.5 million home Pineda purchased for members when they visit Vegas, as well as a marketplace for the community to list products and services they’re selling, using a native cryptocurrency TYCOIN/USD to settle transactions.
“TykeTank, our version of the Shark Tank, is something Samaha is super excited about, too,” Pineda said. “It’s a spot for community members to submit their ideas and businesses.”
Samaha remarked that he thinks the biggest takeaway is that Tykes is “giving the community the opportunity to bring leaders to the forefront and create businesses that will crush.”
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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