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Getting To Know More About...Michael Hickey

In this episode of Lucas Media’s video podcast series Marc Lucas speaks to Michael Hickey who works for The Hatch and has a keen interest in the crypto industry.

Michael digs into his own personal experiences and talks about where the space is heading.

How did you get into crypto for the first time and how are you finding the people around you are adopting crypto?

My journey into crypto started a very long time ago when I was around 16 or 17 I tried to get a fake I.D. so I could get into pubs and clubs. Luckily for me, it turned out to be a scam so I never got the I.D in the end so I left it and was another five or six years before I got back involved in crypto again. That's when I also started looking at the various investing options that were available, being interested in either a mortgage or investing in a stocks and shares ISA. However the way that the crypto market was performing at the time in the terms of the cycles, there seemed to be a lot more potential for making my money go further invested in crypto as long as I played it right.

I really jumped on board heavily once the coronavirus lockdown began that's when my interest in crypto really went full blown because I saw the potential and we saw for over a year a big the bull market.
I've slowly got my friends and family involved first it was friends which where already interested in tech anyway, and they were slowly getting involved in Bitcoin and Altcoins. In the past year we started helping out family as parents have even asked me to show them how to invest in Bitcoin.

Where do you currently invest your personal crypto portfolio?

I'm trying to be careful not diversifying too much I’ve tried to leave about 10 percent of my allocation in Altcoins. I put most of my money into Bitcoin and Ethereum the big two. I always remember to take profits and put them into Stablecoins and then set them to yield so I can maximise those gains a little bit more.

Tell us more about what you do at The Hatch, the kind of services you offer and what kind of clients you work with?

The Hatch is a 360 digital agency we have had a long term interest in tech and in more recent times we've been involved in Blockchain. Since lockdown our developers have learnt Web3, developing it, getting the right skills for it. We're proud to be one of the first agencies in the UK to officially offer end to end Blockchain projects.

In terms of the latest projects the most recent one is a Blockchain project called VooVoo which we are the development partner of so we developed the platform internally. VooVoo is an NFT marketplace that auctions high end art and the latest release being the Aachoo artwork by Banksy.
There was a landlord that took the entire wall off the side of a house where there was a Banksy piece of artwork. People wanted to know where that ended up it ended up being part of a VooVoo project. The wall was split up into 5000 bricks and they will be auctioned off digitally by the VooVoo platform. It gives an opportunity for anyone to own a piece of the Banksy artwork as a personal NFT whilst the original artwork remains in a gallery for the public to view.

What is an NFT?

Even the official definition of an NFT wouldn't make much sense to anyone who's never heard of them before. An NFT is a non-fungible token it can be a digital asset that's tied to the real world so it can be photo, a music file or a video and the way that it becomes a non-fungible token is by minting it on the Blockchain.
So essentially the ownership and the confirmation of authenticity is proven by its information stored on the Blockchain usually in terms of a smart contract. What that means is if you were to purchase a digital piece of art and you wanted to sell it, you would want it to be sold and minted on the blockchain and people who purchase it gain all of that information of the purchase and ownership and it will be stored on the blockchain for anyone to see.

Are there any criticisms that you have with NFTs and are they are they here to stay?

I think a lot of NFT projects are here to stay but a lot of them equally won’t last. It's very much a wild west kind of frontier vibe to a lot of these projects and the communities as well. It's like the early days of the dot com bubble I think a lot of criticisms aimed at the moment surround the inability to understand the projects and the communities that is built around them. Another criticism is the bad players in the space, the influencers, and the projects that they are a part. Sometimes their actions and intentions are not always honest. There are some criticisms that are valid in the space but there is also lot of pros that need to be taken into consideration.

What is Web3 and how does that link to NFTs and how does it all connect to the the wider internet?

A good way of explaining Web3 by starting at Web1.0 and then progressing through Web1.0, two and three. Web1.0 was very early days of the internet where it was very much static. It was hard to navigate or know how to access the information you were searching for. There was very little in the way of competent search engines and users had little to no interactions with the websites they were on. This was all pre mobile, pre social revolution, and there wasn't that much variety to how a website could look and display its information either.

Then we have Web2.0 which is what we are all used to now which spawned the rise of the smartphone, the rise of social media and is where the corporations have pushed us down this road of creating social media sites where the users interact with one another. It's all about sharing one another's posts, liking, interacting and it's where the users become the creator of content. It was features like JavaScript and HTML5 that really paved the way for Web2.0

As we enter into Web3.0, which is where we could argue that we kind of have half a foot into already, it is like the semantic web, Web3.0 is looking to utilise decentralisation all in hopes of becoming more ominous, intelligent and open. An NFT is definitely an example of Web3.0 they are digital assets that can be tied into real world stuff. Really their value will come from the adoption Web3.0 so as more people get involved and own their own little flat in the Metaverse or own their own piece of land, they'll then see the value in decorating that land with their NFTs. Very exciting time to be involved in the whole space.

You can watch the full episode here