The NFT space can represent a formidable challenge for those looking to make a foothold in the industry. So, we caught up with Anthony Mongiello, the CEO and co-founder of the hugely popular Bulls and Apes Project to get an insight into managing a major NFT platform.

In this article, we discuss the ins and outs of his own Bulls and Apes Project, as well as his thoughts on the wider implications of NFT technology. So grab yourself a cup of tea, sink into the comfy chair, and find out what goes on in the mind of a Web3 CEO.

What is the Bulls and Apes Project, and what makes it special?

Bulls & Apes Project is a community driven digital collectible company creating technology solutions that leverage decentralized blockchain platforms to bring power and control to owners of digital assets. We focus on building and growing side by side with the B.A.P. community, while simultaneously creating a world of infinite opportunity by empowering those communities to build worlds where they can live their best life.

What was the inspiration behind the collection?

We wanted to create a collection that would resonate with people joining the web3 space. For us, a Bull charging forward with power and an Ape jumping in with reckless abandon captured the essence of those hopping into the uncharted territory known as Web3.

What does the latest ‘Apes’ drop add to the Bulls and Apes Project?

In our lore we have a Creator character, who created the Bulls as a masterpiece. The Bulls were living in harmony, but they were not realizing their true potential. There was no tension, no conflict to drive them forward, which in-turn, stifled their progress. Realizing this, the Creator brought in the Apes to create the required tension and conflict, and push the Bulls to new levels. Some Apes joined the Bulls and lived side by side as friends. For our community and our company, the Apes take us beyond the traditional PFP collection as they are a dynamic NFT(dNFT) collection. But, we didn’t just release a dNFT collection, we released an ecosystem and product suite that will change what it means to deliver NFT utility,

How does the use of dynamic NFTs enhance the experience for NFT holders?

dNFTs provide power, control, and creativity to holders’ digital identity, especially for our collection. We have delivered a comprehensive ecosystem with over 1000 traits and trillions of combinations available, with many more traits to be released. Our ecosystem provides opportunity for our collection to evolve as demand and tastes evolve, ensuring holders will have a steady stream of options and fun to keep their NFTs fresh and exciting.

What are Bulls and Apes Loot Boxes and how do they work?

Loot Boxes are another product in the Ape product suite. We have 6 initial products – The Configurator, Loot Boxes, Tokenomics, Dynamic Rarity, Achievements, and Formulas. Loot Boxes are the main mechanism for holders to release new traits into their wallet. As such, we have Common, Epic, and Legendary Loot Boxes. Common Loot Boxes are opened with our erc20 token, $METH, which can be earned by holding Bulls and other assets, or purchased on our website. Epic and Legendary Loot Boxes are opened with eth, however, even Common Loot Boxes contain a chance to reveal an Epic or Legendary trait. With the Loot Box mechanic, it is like a mint every day, you never know when you might pull a super rare gold trait.

How do you see the project evolving in the coming years?

We are a company focused on relentless delivery. We have delivered an insane amount during our first year in business and plan to amplify that even more in 2023. On top of the delivery, 2023 will be a year of brand expansion, as we are working both inside and outside the NFT space to build partnerships and make B.A.P. and well-known brand.  Furthermore, we have IP that has multi-generational appeal, which we tested with 8 chapters of lore and storyboard narrated video that has been well received. The next test is a physical trading card game that is currently in development.

How will you continue to interact with Bulls and Apes Project holders?

Constantly. The beauty of web3 is having a community that you can build side by side with, but that comes with massive responsibility. Even if you step back for a week or two you can feel the vacuum. Attention spans are short, and patience is low, so s a founder being accessible and present is critical.

Which faction do you prefer Bulls or Apes?

Bulls, I’m loyal and they were the first.

Do you think NFTs have the potential to change the world?

It is why I am here. I left a very successful career in the corporate world to be here full-time. In essence, blockchain is a technology that can and will provide opportunity, power, and control to so many that were limited by gatekeepers and intermediaries. Think about the bankers, lawyers, agents, producers, politicians, and the list goes on, that have power and control because they are the gatekeepers and intermediaries. What gives them that power is access and control over assets we “own”. Going forward, blockchain will remove that burden, as it is public and permissionless, leaving you in complete control over your assets. This is too important to society to NOT be all-in. In this space, founders are stewards helping to establish a framework where holders will thrive. This is why I am here.

Find out more about the Bulls and Apes Project >> Here

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post Navigating the NFT Space: An Interview with the CEO of the Bulls and Apes Project appeared first on NFT Plazas.