A popular saying goes that the road to success is not a straight line. Sometimes it leads to various detours such as learning about developing aircraft, being a writer, keeping an eye on Bitcoin (BTC), and exploring the blockchain space.
In a TBEN interview, Ahmet Usta shared his journey from being fascinated with technology since he was a kid to the founder of several successful Web3 projects focusing on blockchain gaming and nonfungible tokens (NFTs).
Usta studied aerospace engineering at Istanbul Technical University in Turkey, mainly because of his passion for technology. He then pursued a career in information technology and worked for several companies. Ten years later, Usta found himself in a strange situation. He said:
“By a strange coincidence, I found myself to be a technology writer and editor. I have written about technology for Bloomberg Businessweek Turkey and a number of other publications.”
Then came Bitcoin, which caught Usta’s attention as he “watched it closely”. Lured by the technology behind the cryptocurrency, Usta co-authored Turkey’s first book on blockchain and then went on to make appearances as a blockchain specialist, giving speeches, seminars and training companies on the subject.
In 2021, the entrepreneur was working on a blockchain gaming project that integrated NFTs. After finding success, he handed over the project to his partner to focus on a more long-term company called ELYT, which has recently raised new funds to connect brands and influencers with Web3 technology.
When asked why he thinks it is important for brands to use Web3 technologies such as NFTs, Usta said NFT technology is more than an application. It’s a new way of thinking. He explained that:
“Innovation starts to sprout as soon as you can start thinking in this new way. The rest is just a technical and business problem. The key is to be able to create real business models from a new perspective.”
The executive also said the possibilities in terms of NFT use cases are only limited by people’s imaginations. “The monkey’s visuals and game assets are nothing more than a small snowball rolling on the iceberg visible above the water,” he said.
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Usta believes that Web3 offers many possibilities. According to him, Bitcoin, Ethereum, NFTs and decentralized finance (DeFi) all have their roles in the world. He explained that:
“Bitcoin made it possible to keep records without the need for a centralized structure. For the first time in human history, this enabled a decentralized trust protocol. With smart contracts, Ethereum has transformed business workflows.”
The Web3 entrepreneur also mentioned that NFTs limit the ownership of digital assets that could otherwise be replicated indefinitely and believes the space will discover several other uses. Meanwhile, Usta also stressed his confidence that DeFi will play a vital role in the future of finance.