The Man Who Tokenized Himself Gives Holders Power Over His Life

Frenchman Alex Masmej, 23 years outdated, just lately raised $20,000 on Ethereum by tokenizing himself. Now he needs his traders to vote on his life decisions. 

His “management my life” experiment challenges token holders to inform him whether or not to take a run or eat solely veggies. Which will sound slightly self-indulgent, however there’s a larger agenda right here. It could even be a startup, in accordance with Masmej. He’s undecided.

Primarily based in Paris through the coronavirus pandemic, Masmej is worked up about his plan to maneuver to San Francisco subsequent yr to work on a number of tasks, together with NFT-DeFi startup Rocket. Our dialog – about self-tokenization and extra – has been edited and condensed for readability.

What motivates you to promote your self? 

I need to change the world by constructing a rising, worthwhile firm that has a major impression. I can present an ideal service to the world if I can present folks with the power to earn cash. I believe the easiest way to do this is to construct a tech startup.

The explanation why I selected crypto is that it has a really low barrier to entry, in contrast to AI or 3D printing startups. I tokenized myself and requested folks to vote for my habits to get some consideration as I wished to do one thing in a lightweight, humorous, and progressive approach to elevate funds. It’s a good way to know your viewers, interact them and set off the dialogue. I do know this will’t turn into a $1 billion firm, however it was a enjoyable expertise, and my token went up.

How do you construct a picture for promoting private tokens?

The traders of $ALEX token are founders within the crypto trade who have already got corporations and need to assist me out. I’ve 1000’s of followers on Twitter, and so they like my power and say I’m younger and humorous. There are nearly 30 individuals who need to make investments and take into consideration how I’d develop up. My market cap is round $150,000 now. Sure, belief will not be in cryptocurrency, however within the personalised token, folks should imagine me. 

However there isn’t a authorized framework right here, no pointers from the Securities and Trade Fee?

Sure, however I’ve all the time made it clear that it’s not a safety, it’s dangerous and I won’t succeed. I don’t assume personalised tokens needs to be associated to the SEC as [they are] extra like crowdfunding. The quantity is small of (sic) $20,000, so I don’t assume there’s a requirement [to involve] the SEC.

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Nevertheless, if I make an organization round [the token], I’d be curious to know in regards to the litigation. Perhaps sooner or later I may consider a platform the place there may be some enforceability of the token mechanics. 

Some folks say, ‘Oh, this entails a whole lot of belief, and this is sort of a rip-off.’ However I’d say that my status is at stake. Some say I management an excessive amount of, and a few say I can’t management in any respect. It’s not good both approach, so I believe I have to discover a center floor.

Most individuals in crypto need extra privateness, however you’re opening your private life to the world. Are you going to ask, “Ought to I marry my girlfriend?” the way in which Mike Merrill did?

I’m single proper now, and even sooner or later I don’t assume I’d ever ask traders whether or not ought to I marry my girlfriend or not. Nevertheless, they will introduce me to the ladies. Haha.

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I’m in contact with Mike and he’s an attention-grabbing character, and even when he requested about his girlfriend, all people stated sure. Let’s assume that if I ask private questions like this and other people disagree, nonetheless, I’d marry my girlfriend as that’s my resolution.

Can we see social media influencers promoting themselves within the coming years?

I believe personalised tokens might be huge within the coming years, and will probably be widespread for video streams, music artists and social media influencers to boost funds. Mike Merrill was the primary one who publicly traded personalised tokens in 2008, and two years later, in 2010, one other token was personalised. There was a token Whale, a collateral of collectibles.

These tokens are both for networking or for revenue sharing settlement (sic). I’m going to construct a platform that might give publicity to the fundraiser. The traders would assume that since this entrepreneur is on this platform, I can belief him. Coinbase does the identical because it selects the tokens, and the traders belief it. I imagine there needs to be security and guidelines concerned and a approach to reimburse the traders. 

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How did COVID-19 affect your progressive fundraising methodology?

COVID-19 is the rationale I’m elevating cash like this. I prefer to discover issues and need to do one thing progressive. On June 15, I made a decision to personalize tokens once more and ask folks to vote for my way of life, which included questions like, ought to I jog, ought to I eat solely greens, and many others. I’m saving cash in order that I can make investments it for my new challenge in San Francisco.

Since you can be shifting to the U.S., what are your ideas on the presidential election and on the present protests?

I believe the latest ban on some work visas is counterproductive for the U.S. as new abilities arriving made the nation profitable and contributes to creating internet new jobs, together with for locals. I hope the subsequent president will welcome proficient immigrants once more to contribute to the financial system. It doesn’t have an effect on my enterprise, as resourceful entrepreneurs all the time discover a approach, however it is going to undoubtedly hurt the nation on a worldwide scale if these restrictions had been to remain long run.

I’m proud to see the protests after George Floyd’s dying turning into mainstream, which reveals progress has been made. I didn’t take part in any protest in Paris. I donated cryptocurrencies to organizations, together with Black Lives Matter. I weighed in on my social media as a lot as I may to make folks notice the enduring racism that has been holding the world again for approach too lengthy on all fronts.

Individuals say that you simply dream of being a Silicon Valley demi-god. Will you be utilizing Oracle, or are you the oracle?

I all the time say that I need to construct essentially the most vital firm ever, however I received’t say I need to turn into a demi-god. Sure, I’ll set the value, not Oracle or any third occasion will verify it. Individuals should belief me as I might be sharing about my funding and bills. Will probably be between my traders and me.