Upon the end of the first NFT auction on BOAX marketplace, we joined the auction winner Prince Nari, our first featured artist Dr Dominic Lam and the founder of BOAX NFT Marketplace Mr. Ian Wen to talk about the first NFT on BOAX, the FinTech market in Cambodia and the future development of BOAX marketplace.
Prince Nari, why did you make a bid on this NFT?
Prince Nari: Actually, the concept of NFTs is quite new and eventful for me. BOAX spiked my interest in the new trend. I saw an opportunity with this new NFT, it brought something new to the market that did not exist before. The fact that artists are now able to sell their masterpieces in digital forms and the owners can be validated through blockchain technology is what made me interested in this NFT. It means a lot to me to be the owner of an NFT.
What does the Olympic spirit mean to you?
Prince Nari: I have been passionate about the Olympic games for many years now. The meaning of the Olympics is sharing the spirit of sports and trying to perform at your best. It pleases me to see people come together to try to achieve their best. This is why the NFT was so meaningful to me. The whole world has suffered through the hard times of the pandemic and this NFT is about happiness, which is much needed due to all the circumstances. The current Olympic games have shed a light into our lives bringing people around the world together through sports.
Dr Lam, can you share the artistic intention behind this artwork?
Dr Lam: In 2008, I made the logo for the Beijing Olympics. You can see the five rings at the top, which represent the five continents. Under the rings, I drew a person holding on to the five continents, which symbolises the unity of all people in the world. The word in Chinese [樂] means happiness. The word [樂] happiness has similar five rings, and a person, and a gold medal, and a silver medal, and a bronze medal. So I think just as you said, the Olympic spirit is about peace and happiness for the whole world!
Prince Nari, do you have any plans for the fintech market in Cambodia?
Prince Nari: Cambodia is steadily making progress with the digital market. The Cambodian government recently created a payment service that has won many awards in different countries too, so we are moving towards opening up the digital market to the Cambodian people. Cambodia is definitely the right place to invest and to look for opportunities on the side of digital perspectives.
NFTs are still new in the market, why did you choose to work with BOAX?
Dr Lam: It has been an exciting first experience working with Mr Ian Wen and his team to reinterpret my earlier arts in the format of NFT. I thank BOAX NFT Marketplace for the opportunity to be their first “Master Artist” and for being so diligent and effective in bringing my visions to life.
Prince Nari: BOAX is a very special marketplace that has a lot of meaning behind it. It is different from other NFT marketplaces. Artists that are featured on BOAX have the opportunity to connect with their audiences through digital collectables, which is amazing!
Ian Wen: Thanks, Prince Nari. I think the concept of BOAX is great for new and existing traditional artists. Unlike Beeple or Fewocious, most artists have physical paintings that can’t be displayed to the majority of people. Using NFTs, we connect the younger generation to those artists. And by “NFTing” them through smart contracts, royalties are to be delivered back to the artist, I think this really supports the whole art industry. This is why I really support the NFT space as an artistic platform.
Ian, what is the plan for BOAX?
Ian Wen: As of now, the main goal is to compete with established NFT marketplaces. We have to be special. I always thought about incorporating Chinese cultural elements into the BOAX NFT marketplace. I am a believer in Chinese philosophy, Chinese style Buddhism, Feng Shui, etc. and I want to bring all those elements to the world of NFTs. Going forward, we will work with other master artists like our prominent Dr Lam. We quorate art, instead of opening right up to the public, but in phase two, we will also consider opening up, allowing and supporting the younger generation to come together.