In this new age of technology, the digital world has taken to more than just trading tokens. You can now buy land, virtual items, and even experience. And in this episode of the Edge of NFT Podcast, we are joined by the CEO and Co-founder of Enjinstarter, Prakash Somosundram, to talk more about the space and his journey to Web 3.0. Prakash has been active in blockchain and cryptocurrencies since 2016 and has led his team to raise $5.5 million in both private and public sales. He launched the business in early October 2021 and has since completed more than 45 IDO projects on their platform and counting. Tune in to this conversation and get insights on how you can raise capital through NFTs, the importance of community building, what are the new trends, and what’s coming up in the Web 3.0 space!
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Prakash Somosundram Of Enjinstarter – Next Gen Blockchain Gaming Launchpad, Plus: Magic Eden Valuation $1.6B, NFTLA 2023, SoHo Technique, WeDream AR, And More…
This episode features Prakash Somosundram, the CEO and Cofounder of Enjinstarter. Prakash is a Singaporean serial entrepreneur. He has been active in blockchain and cryptocurrencies since 2016 and has been involved in various aspects, including project development, acceleration, and investment. Enjinstarter is a launchpad focused on blockchain, gaming, entertainment, and metaverses.
He led the team to raise $5.5 million in both private and public sales and launched the business in early October 2021, has since completed more than 45 IDO projects on their platform. Notable projects that Enjinstarter has invested and accelerated on their platform include Defina, The Killbox, and PathDAO. These projects have delivered between 24X and 53X return on investment from their public IDO launch price.
Prakash, welcome to the show.
It’s been crazy. This has been intense.
Enjinstarter is a massive vision. Give the audience an idea of the origin of it and how you brought it all together.
I was given an opportunity to invest in Enjin’s project called Efinity, which is a blockchain that a building on the Polkadot network. After I read the white paper and the pitch deck, I knew that this was going to be the future where they’re trying to build this interpretability between multiple chains and primarily focus on NFTs. They’re creating a new standard for NFTs. They call it the ParaToken. I saw that as the future. That’s where we pitched it to them.
They invested with us at a very early stage. They gave us the blessing to use their name, and we became their first launchpad for the ecosystem, but we’re not restricted to the ecosystem. We’ve done projects in 8 to 9 different chains. The whole idea is to offer our clients a multi-chain strategy. Eventually, when cross-chain compatibility comes in, we’ll build more stuff on Efinity. That’s what our vision and purpose are for existence.
It’s worthwhile to rewind a little bit because you’ve been a guru in digital marketing for a long time. How did that experience lead you to this journey into Web 3.0?
Back in my agency, these clients used to pay us to tell a narrative or a story. What we did with fundraising, every project that we mint is about helping them build a solid narrative. That’s the biggest challenge. We see a lot of creators with great talent, but they can’t tell a story and usually struggle to fundraise. We converted all the experience that we had in marketing and in narrative building and brought that into fundraising and investor relations. That’s the key value that we bring to the projects that we work with. We invest in them, help them build a narrative, connect them to investors, and help them communicate that message effectively to the community.
As a platform, can you tell us about what are the nuts and bolts of Enjinstarter?
In a single line, we are a YCombinator/Kickstarter. We provide acceleration services. There are a whole lot of things that happen backstage they don’t know about, like fixing the project’s tokenomics, figuring out which team members we should feature and which segments, and then helping them become investor-ready. That’s the key at this point in time in helping quality projects stand out in a very crowded and also slightly bearish market. That’s primarily what we do offline. Once they are ready for a fundraising exercise, we put them on our platform.
Our community needs to buy our tokens and hold our tokens. The longer they hold our token, the bigger allocations they get. We secure our public allocation from these projects, and a lot of our community wants access to that. The key is for us to get the man on the street to be in VC, participate like the VC with the same terms, and decide which of these projects are going to succeed. That’s what we offer as a platform.
In particular, this energy you’re building with folks around community building is so important for gaming because we’ve seen, over the evolution of gaming, how the community is everything. Some of the biggest games of the last few decades are all about community. I’d love to learn more about how you guys are deploying NFTs as a mechanism for raising capital in the gaming fair.
What our platform offers are three different ways that project owners can raise capital. They can issue tokens, they can issue NFTs on our platform, or they can sell land on our platform. Each one of these things can be used as part of the community-building experience. In one of our early projects, what they did was they first issued a token and started issuing NFTs to raise additional capital but also to build a community. They also use that as a test bid to see what characters and gameplay were interesting to the community. They started scripting that back into the game.
That’s one way that NFTs could play a role in not just raising capital but also coming into the narrative and using that as part of the game design and gameplay. The other key thing we’ve always been looking at is Founder’s Token. Enjin is one of the early guys that came up with this concept. We want to support loyalty, not just to come in and participate in these events and then flip it once you get a good return, but will stay committed to these projects because they take a long time to develop and mature. We want people to stay on, and we’re trying to use NFTs to build loyalty. We’ll recognize this loyalty the longer they hold these tokens.
There’s something powerful about this idea of land and being able to offer land. I joke with folks because there’s a lot of Josh’s on our team. I always run into Josh in the space, like Josh DAO. Now that I’m thinking about what I would do next with Josh DAO, we’d have to have Josh world and start selling. It works, but there’s something powerful about giving people the ability to use the land to support that crowdfunding mechanism. It’s different than what was available before. Do you think intrinsically you’ve seen that attraction occur for folks?
It’s a whole new internet that’s being built, and this is our opportunity to own a piece of it. Some of us may have missed the opportunity of owning physical real estate, but now we’ve got an opportunity to buy these digital real estate curated in any manner and fashion we want. We can start hosting our friends. We can host events like this in a virtual space where we all don’t need to fly to one city, but we can connect from multiple cities. We’re quite excited about what we can offer, especially with a lot of these metaverses coming. The key is interpretability.
If you can be restricted to one particular metaverse, it’s going to fail. What we need is to have these brand experiences and content transcend different metaverses. What we are doing during this bear market is focusing on a lot of niche communities. This is where we work with a lot of our communities. We’re working with tattoo artists, who are all creators. They have their own audience. What we’re looking at doing with Web 3.0 is to offer them an additional revenue opportunity. It’s not going to replace anything existing, but it’s going to now create a whole new way that they can engage with their friends.
Let’s talk about the process of participating in the incubator. What should a participant expect? How do they think about sustainable strategies and campaigns? How do you support that?
What we did was we thought of all the pain that we had gone through in our startup lives. We found a way to reduce that friction. The pitch that we have is that we’ll hold your hands and guide you on a 150-day journey. It will be a lot less painful than how it went through for us. Writing an IDO is probably one of the most painful stuff that you can do out there. In our case, we got hacked one day before our IDO. We didn’t have a public website to even conduct an IDO. There are a whole lot of scams and spam texts that we had to deal with.
That’s one thing that we want to try to now reduce for the partners and portfolio companies that we’re working with. This 150-day journey gives us time not just to work with the team but also to build a community. The key at this point in time is the community. The community needs to understand what are the longer-term vision that these guys are working towards. There’s a big need for bigger loyalty in crypto, especially now, because people jump from project to project.
They get alpha on a project and leave once they get multiple returns. A lot of that needs to change if we need to build a sustainable ecosystem. They expect that we’re trying to introduce a level of impact in every project that we do. If there’s a social cause, a nonprofit, or a bigger picture we can with the community, especially using Web 3.0 as a canvas, we will achieve greater success for ourselves.
You’ve got an ecosystem that you’re building. I’d love to know a little bit more about that and your vision for creating a community. How do you see that community building moving forward?
As the community grew, the community had different objectives. In the early days, it was all about getting alpha and early into these projects. We’ve been shifting the focus, spending more time with micro tribes that exist within the community. Because it’s a bear market and people want the investments to recuperate, they are now sending us leads and ideas of what we could do. That’s where the beauty of community building comes in. It needs to be two-way. People need to have the ability to socialize and exchange ideas in a very free and unjudgmental way.The key at this point in time is helping quality projects stand out in a very crowded and also slightly bearish market. Click To Tweet
We find ways to incentivize them. We have tokens, which we give them, and we invite them to events if we feel that they’re contributing. That’s one way that we’re trying to build our community. Secondly, we’re also building a lot of these niche communities. We feel that niche communities have a very strong ability to do community acquisition. The last thing that we’re working with at this point in time with our focus on entertainment is working with IP owners. It could be a musician or creator who’s got access to friends. If we can onboard Web 2.0 consumers into the Web 3.0 space, that’s another level up for us from a community-building perspective.
Speaking of building, now is a great time to build. I’m sure there are a lot of interesting projects that you’ve been incubating. What are some of the upcoming projects that you’re pumped about?
One of the projects that we’ve been working on is a project called Warlocks. The people who are behind the project are property developers. They’re based in Singapore, and they’re also listed in Singapore. They engaged us to develop a metaverse strategy for them. We’ve built out an entire strategy, which is soft-launching here in NFT NYC.
It’s got a full experience of a metaverse, but they’ve connected it to the real world. They call it Phygital. These guys own buildings. They could be hotels or malls. Now they’re creating an entirely new experience that connects the metaverse to the real world. The first mall that they’re working on is an eSports mall. Whether it’s a whole range of eSports activities, they will be in one place. Anyone who comes in to participate in that will also have a presence in the metaverse.
It’s almost like you plan that. SoHo Technique is one of the partners of this event, and SoHo Johnny has a lot of real estates. I know he’s thinking about some of these same opportunities, so I’m sure you guys can have an interesting conversation after this show.
Tell us a little bit about what’s next on the roadmap for Enjinstarter, like products, features, and partnerships.
As Josh said, this period is for us to build. We are in a global expansion. We’re expanding into Dubai. We expanded into LA. Elizabeth is our market launcher. We are using this opportunity to now expand and have a physical presence, not in a very big way, but at least having a market launcher who pretty much does everything a team would do. It’s a single individual who goes in to connect with communities, understand the needs of each community, and then we develop a strategy based on each market we’re expanding.
This period is the best time for us to expand. We’re getting into a lot more quality conversations. There’s a lot less froth in the space. This allows us to spend a lot more time with the projects to ensure that the right strategies are in place to build this out. We are building a lot more features in the launchpad so the community can come in and use it as a dashboard to manage their entire portfolio. Once you start getting into the space, there are a whole lot of things that you need to balance. It’s a full-time role, so we’re trying to create some tools that can help you monitor your portfolio, and then you can decide what’s it going to be.
We are doing a lot more in the entertainment space. This is where we’re doing a lot more incubation and innovation consulting. What we’re seeing is that there are now a lot of Web 2.0 companies that are looking and coming into Web 3.0. They feel that this is the best time for them. These guys have existing communities. They may have a product already. What they’re looking for and doing is creating something in parallel in the Web 3.0 space. Some of them are creating a new business opportunity, like an entirely new business model. Some of them know that their existing business model is going to be disrupted, and now they are preparing for that by starting to build it for Web 3.0.
It’s worth mentioning that we know each other, and you are one of our co-creators in NFTLA. As we’ve gotten to know each other, one of the interesting things I’ve learned about you and how you look at these startups is it’s never too early to have a conversation. It’s never too late to learn. It’s worth letting our audience understand how open you are to startups, wherever they are in their journey.
We are always open to having conversations. We try to keep in touch on a regular basis and ensure that they are giving us updates. If projects give us updates proactively, it’s always a very good sign for us, and we try to spend more time with them. When they reach out to us, we will never leave that conversation without at least connecting them to a partner or an investor. Constantly, we’ve got to be keeping in touch with this.
In Web 3.0, trends change very quickly. It’s difficult for us to see that this is the only thing that we’re going to be doing. Take, for example, this entire move-to-earn. It trended like crazy. We completely missed it. We said no to one of the top ones that went up to 36,000%. These trends work because things move quickly now.
More so, because we’re coming out of these two years of lockdown, pandemic, and travel restrictions, a lot of things are now happening at a quick pace. If you have the right place with the right tech, this is where things start to fly quickly. This is where we constantly need to be attending events and meeting with startup founders. We connect with traditional accelerators. We attend as many talks as we can so that we’re always connected or very close to the ecosystem.
We’ve had a great chat here talking through all this stuff. We’re excited to move on to our quick-hitter soon. Here’s the last question of this conversation. We’re all amazed and fascinated with all the inspiration that’s going on now. Personally, I’ve said it over and over again, it’s especially inspiring when the market is doing whatever it does, but there are those folks that have that intrinsic energy around this stuff. They’re passionate about what they’re building, and they’re moving forward. That leads me to our last question. What inspires you that’s out there? In general, what inspires you to do all the wonderful things that you’ve achieved?
I’ve always enjoyed working with creative people. That’s how I built a career in digital advertising. The work that we do is primarily we’ll create this right. The beauty is when we wake up, we could be working with a rep from Singapore or it could be working with an artist from New York. Every day is a new day. What’s exciting is creators are starting to understand that Web 3.0 is primarily for them. This is the best opportunity of removing the middleman, building a direct relationship with the community, and, more importantly, co-creating with your community and telling beautiful stories.
As long as creators have stories to tell, they will succeed. That’s what Web 3.0 is. Despite spending so much time in crypto, we know that we are very early in Web 3.0 because a lot of the infrastructure required to get the mass market into the space is still not there. That’s the beauty for us. It’s to be able to identify some of these builders building the infrastructure, support them, and also bring them into our ecosystem.
Thanks so much for sharing that.
Our relationship with you has been a reflection of what you described, very open, transparent, helping, and always adding value. We appreciate you joining us and sharing.
It’s a pleasure.
Let’s zoom in on a globe from outer space to Abbot Kinney Boulevard in Venice Beach, LA. Let me show you a cosmic tech vegan that shines out among the bustle of fashion, art, and food there. It’s a thriving software, depth data science, and design studio known as AE Studio, where scores of the sharpest minds have come together to help founders and execs create software and machine learning solutions that are not only profitable and increase our agency as humans. It’s also to give us that warm, fuzzy feeling that elegant tech so wonderfully does.
AE’s breadth of talent allows us them build anything from InstillVideo.com. It’s a health fitness and wellness app that you can make sure shocks you to world-winning brain-computer interface solutions that can quite bend your mind. Keep an eye up for token runners, their NFT wide-able market places as well as highly anticipated NFT drop boomer NFT.
For all you D-gens who strive to shed the cup of bun and pearls comes a jawdropping and an inspiring partnership not since the day they shock and covey. It’s called the Edge of AE Studio, and you can find all about it at EdgeOfAE.com. This is a full service, and the whole enchilada NFT service can help you launch your NFT project. Edge of NFT and AE Studio have come together like Voltron to get your project and gear, so you have high-tail it straight to the moon, stardom, and maybe your own private yacht.
As Eathan said, it’s time to move to segment two, which we call Edge Quick Hitters. It’s a fun, quick way to get to know you a little bit better. There are ten questions. We’re looking for short, single-word, or few-word responses, but we may dive in a little deeper here and there. Question number one, what is the first thing you remember ever purchasing in your life?
Sweets at GSO.Some of us may have missed the opportunity of owning physical real estate, but now we’ve got an opportunity to buy this digital real estate curated in any manner and fashion we want. Click To Tweet
You seem like the kind of guy that has earned your own money at three years old. I don’t know if that’s true.
I hustled whatever I could from fighting spiders, erasers, and comics. I made quite a bit on comics, and that is the inspiration now with NFT.
Do you try your own or bought them and resold them with a little arbitrage?
I was buying it from the US and selling it in Singapore.
You’re an early import-export king.
Question two, what’s the first thing you remember ever selling in your life?
Donation tickets when I was a scout.
Question three, what is the most recent thing you purchased?
It’s a woman-focused NFT. I started bringing my wife to NFT events, and she was like, “Why haven’t you bought me an NFT?” I’m like, “It’s time to start now.”
What did you get her?
It’s called Crypto Goddess.
What is the most recent thing you sold?
I sold shares in my company.
Question number five, what is your most prized possession?
My proudest possession would be my family.
Question six, if you could buy anything in the world, digital, physical, service, or experience, that’s for sale, what would that be?
A Bored Ape.
Question number seven, if you could pass on one of your personality traits to the next generation, what would that be?
On the flip side of that, if you could eliminate one of your personality traits from the next generation, what would that be?
Hanging on to things that you shouldn’t be.
Question nine, what did you do before joining us on the show?
I had a very great meeting with a potential partner who’s getting into the experience space. They are building an experience layer over the NFT layer. That’s going to be a whole lot of magical work that we’re going to do together with them.
Last one, question ten, where are you going to do next after the show?Community building needs to be two-way. People need to have the ability to socialize and exchange ideas in a very free and non-judgmental way. Click To Tweet
Wherever the next party is.
I got a bonus question. Sometimes we’ve been throwing these in. If someone goes to Singapore with you for the first time, what’s the first place you’re going to take them?
It’s an island called Sentosa, which is accessible by a bridge. It’s a paradise island. It’s a crypto island now, so a lot of crypto influencers from all around the world stay there. I love to host you guys in Singapore sometime.
That’s the Edge Quick Hitters. Thanks so much. We appreciate it. Thanks for sharing with us. Word on the street is we got a couple of hot topics to hit as well.
Here’s the next item on the list here for the first hot topic. NFT startup Magic Eden‘s valuation surges tenfold to $1.6 billion. Magic Eden, a marketplace for NFTs on the Solana blockchain, saw its valuation surge in a fresh funding round. Despite a slowdown in private investing and cratering cryptocurrency market, investors have plowed a fresh $130 million into the startup at a $1.6 billion valuation, a roughly tenfold valuation increase since March 2022, according to Avichal Garg, Managing Partner at Electric Capital and investor in both rounds. Although that’s a startling pop, even by boom time standards, Garg said he invested because he believes the company will ultimately be worth much more.
Solana has been a surprise star of the last bull run for a lot of folks. It was the first time they had countered Solana, but there is a very deep and wide community of Solana fans who love the technology for gaming and their NFTs. There are some special NFT projects within the Solana ecosystem.
Magic Eden came out of the date and became the dominant leader in that space, similar to what OpenSea has been for Ethereum. If you look at the trajection of OpenSea and their increasing valuations over the last year, it will make sense that Magic Eden would be on a similar course in history in time. OpenSea also ran into some challenges and plenty of funds along the way, and hopefully, Magic Eden can avoid some of that. What do you think?
We are in a build period. These infrastructures and marketplaces will have huge demand. People are looking for new chains because existing chains have challenges. There’s a whole lot of plumbing that we need to solve. Some of these chains offer the promise, and there’s a need for them. There are early adopter advantages to being there too.
Clearly, some smart people have kept some capital in order to put into these projects. Good on them.
Let me say on that too. To remember, there are a number of companies like that that have raised rounds with Animoca Brands, even Cardano, Ripple, and others that are looking to make moves. If you have a project that you want to get off the ground, you believe in it, have a team, an idea, and resources, look into these companies. Talk to them because they are in that build phase. There is still opportunity. Don’t just go dark. Look around. There’s opportunity everywhere. This is build time.
A lot of the funds that are raised to invest in Web 3.0 are sitting on fiat. They’re not affected by any of the market volatility. At this point in time, it’s an investor’s market, so they’re negotiating better rates and valuations. There’s still a lot of activity that’s going on. It’s just a lot of investors are also looking at investing in longer-term play, which is primarily infrastructure as compared to investing in projects because it’s a lot high-risk.
Robby Yung, at an event we co-hosted, said, “This is a time for re-evaluation,” not devaluation. Let’s check ourselves and make sure these valuations are realistic.
Should we move on to the next hot topic?
Let’s do it.
This is an interesting one. Let’s see where we bring this one from. NFTLA 23 is our hot topic. Edge of NFT crew and Edge of Company were producers of the NFTA LA convention in 2022. The Edge of Company and Edge of NFT is excited to officially announce the dates for the return of NFT LA, March 20th to 23rd, 2023. Folks, if you’re here and you have a smartphone, take a minute. This is the first time we’re announcing this announcement.
Edge of Company and the Edge of NFT podcast are excited to officially announce the dates for the return of NFT LA from March 20th to 23rd, 2023. Head to 2023.NFTLA.live to get on the white list for early access tickets. The tickets went up a lot in price as things went to a later date, so it’s a great time to get in. Our first event in March of 2022 was one of the most beloved in the Web 3.0 space. In 2023, we’ll deliver more of the same vibes and events thoughtfully crafted to spark a genuine connection, curiosity, and community. Let’s chat about it.
I’m super pumped about it. We want to take things to the next level while still having the same spirit and DNA of what we did the last go-round with continued co-creation and connections with people within our official event, as well as beyond. We’re very excited to continue the momentum we built earlier this 2022.
As we’ve had a chance to debrief with all of the community members that supported the event in all ways, one consistent theme has been keeping that vibe going. As we think about making it bigger, bolder, and better, we want to keep that vibe, intimacy, and all aspects of the event, make it somewhere that if you’re new to Web 3.0, or if you’re an OG and you feel like this is your home. If you’re a creator, builder, investor, collector, and trader, this feels like home. That’s what we’re going for with NFTLA 2023.
As an attendee, it’s a conference that you guys cannot miss. I travel around the world, attending crypto events. It’s probably the best event I’ve attended. It’s very well-produced. Each step, whenever they change, they have clowns. It was super entertaining. As a speaker, I felt that the amount of time they had put into speaker management in preparing me as a speaker and identifying the topics that I was going to be speaking about, I never experienced that anywhere. That’s the quality of the content you guys will receive there, but more importantly, it is the vibe, and they delivered some of the best parties that I’ve been to.
I wanted to say that I’ve been running into people here in New York, and people said that going to NFT LA changed their life. They met someone, built a partnership, and now they’re going strong. You can’t ask people to say that. They just say it. We’ve been so inspired because that was our vision and mission. It is to bring people together. Co-creation is one of our key values and community, so it’s great. We’re happy to do that again and amplify it even further.
For those of you reading, we just put out a tweet with this announcement. Go to @EdgeOfNFT. Please do us a favor and retweet that. Spread the message far and wide. We want everyone to have an opportunity to get these early bird prices and enjoy the next NFT LA, which is going to be another intersection of sports, entertainment, gaming, and metaverses. Much has happened in this last year. I can’t imagine what will happen in the next months. I already have talked to some incredible projects that have major news they’re ready to drop on March 2023. I’m sure there will be many more excitements during this time to build. I, for one, can’t wait to see all there.
It’s time for a fun shout-out. We’re going to bring a couple of wonderful folks on to take a couple of moments to say something special. I want to take a minute to explain a little bit more about what’s going on here at SoHo Technique and what WeDream has created. There are five galleries. I think there’s more because they told me there are five spaces, but there are multiple buildings more than five that have been able to walk to and participate in this experience.
A good friend of ours and collaborator, SoHo Johnny, has been helping to curate this. His friend, Peter Calfee, has also been creating the experience, but it’s augmented reality. Within this domain, there are blank walls, but if you open up the app on your phone, you can see all these incredible augmented reality experiences that are floating around, whether you know it or not. We did a little bit of a demo of it. We are happy to put that on social soon. What I’d like to do here is welcome SoHo Johnny and Peter to say a few words. Johnny, why don’t you come on and say something?
Thank you for that introduction, Eathan. I want to thank everybody that’s been part or is participating. Mark the date June 22nd, 2022, an epic moment. We want to thank our friends from Edge of NFT for our collaboration here. I believe it’s nine galleries in SoHo that are a part of this event. It’s pretty epic, if I might say myself.As long as creators have stories to tell, they will succeed. That’s what Web 3.0 is. Click To Tweet
A lot of work goes into these things, and we pulled it together with my dream team Peter Calfee and Andy with SoHo Technique. The last one was a last-minute thought. There’s so much excitement. There are influencers, people of substance, and just beautiful people that have attended. On that note, on behalf of SoHo Technique, empowered by WeDream Augmented Reality and all our friends here and influencers, I’d like to introduce the Web 3.0 guru of SoHo Technique, my pal, Peter Calfee.
Thank you all again for coming. This has been a dream event. First off, I want to thank our lovely media sponsors and hosts. They’re incredible. SoHo Johnny, you’ve been a dream to work with. I’ll run that one all night. We’ve got the team at WeDream running all of the help desks and registration as well as all of the team members at SoHo Technique who have worked together to put this on in. We did this in about 60 days when we decided we were throwing this event. It has come together.
We said, “We’re going to throw a party,” and then we said, “We’re going to throw twelve parties, all within walking distance. It’s going to be fantastic, rain or shine.” With Cynthia, I call her our quarterback. She’s been putting on this whole event. Without her, we would not have pulled it off in 60 days. I also have Katie Chonacas and Taylor Starr, who curated hundreds of NFT artists internationally and have their art displayed throughout these different galleries. Please feel free to check that out. If you need any help, check out the registration or the help desk. We’ll make sure everyone gets on the app and is able to build it from there.
I am going to say a fun story. Taylor has been on the Edge of NFT, and she’s a friend of ours from LA. It’s great to find out that we’re all co-creating this event together. I want to give a big shout-out to our dear pal and friend, Scott Page, from Pink Floyd, who originally connected us with a SoHo Johnny, and now we’re all one big family. It’s another story of co-creation.
The community that we’ve brought together is unlike any other. It’s fun in these IRL events to meet so many people. We might’ve interacted on a Discord or seen on an incredible podcast, and now we’re here together and spending some time. I also look forward to NFT LA.
It’s March 20th through the 23rd of 2023.
We will be there. It’s been a dream. We love you all tons and tons. Cynthia, you’re a hero, secondary shout-out. Onward, forward, and upward, let’s take it on.
We appreciate it so much. Before we break it up, one last thank you to Prakash and Enjinstarter. Please share where folks can go to follow you and everything you’re up to.
Thank you so much, guys. Thanks so much for joining us on the show. We’ll talk very soon.
Thanks a lot, folks. Have a great time.
- Crypto Goddess
- Bored Ape
- NFT Startup Magic Eden‘S Valuation Surges Tenfold To $1.6 Billion
- @EdgeOfNFT – Twitter
- SoHo Technique
- Facebook – Enjinstarter
- Telegram – Enjinstarter
- Twitter – Enjinstarter
About Prakash Somosundram
Prakash is a Singaporean Serial Entrepreneur.
He built his career in digital advertising and sold his company Yolk to WPP in 2011 and became part of Grey Advertising and Prakash played a role in building the business in ASEAN.
Following his exit from the agency world in 2014 he became active in the start up ecosystem by helping companies with fund raising and exits.
Notably in 2016 he brought a collective companies known as the “The Marketing Group (TMG)” to be listed in NASDAQ Sweden and he served on the board for one year.
He has been active in Blockchain and Cryptocurrencies since 2016 has been involved in various aspects including project development, acceleration and investment.
Prakash is currently the CEO & Cofounder of Enjinstarter, a launchpad focused on Blockchain Gaming and Metaverses. He led the team to raise USD$5.5M in both Private and Public sales and launched the business in early October 2021 and have since completed more than 30 IDO projects on their platform. Notable projects that Enjinstarter have invested and accelerated on their platform include Defina, The Killbox and PathDAO. These projects have delivered between 24X to 53X return on investments from their public IDO launch price.
Prakash has also been actively involved in Start-up Ecosystem development in Singapore for more than a decade including his role as Vice Chairman of Action Community of Entrepreneurship from 2014 to 2017. He has also assisted various external government agencies in the set up of their market entry strategies into the Singapore and ASEAN ecosystem. This includes the Australian, Austrian and Dutch government agencies involved in start-up promotion.
In 2021, Prakash was awarded the Public Service Medal, Pingkat Bakti Masyarakat (PBM) for his voluntary contributions to the Singapore government