Behind The Blockchain: an interview with Marko Vidrih, COO & Co-Founder of Niftify

In this edition of the series, Marko shared details his background, his views on how NFTs and Blockchain can change lives for the better plus some brilliant advice for people looking to follow in his footsteps. Marko was kind enough to give us a really detailed look at Niftify as a business, a concept and the technology that underpins the company as they look to make the transition to using NFT's an exciting and seamless process.

There is something for everyone in this edition, so let's get into it...

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Jack "For people who don’t know who you are, could you Introduce yourself?"

Marko "I'm a 33-year-old researcher and analyst from Slovenia. I'm passionate about data-driven analysis and forecasting market trends in the field of emerging technologies, especially fintech. Over the past 15 years, I have helped startups, companies, enterprises, and even central banks to adopt and utilise the latest trends in their operations and business development."

Jack "Can you talk us through your career journey so far?"

Marko "I first learned about cryptocurrency and blockchain technology in 2012 and have been deeply interested in it ever since. I have worked with many crypto startups and notable exchanges, including KuCoin and OKX. Recently, I have been consulting the European Commission and the European Central Bank on stablecoin and NFT issues.

I wrote the first book about blockchain and cryptocurrencies in Slovenia in 2016, and in 2020 published a book titled BITCOIN 2.0: A World Beyond Money in English."

Jack "Can you talk us through the most useful skills you have learnt which have enabled you to reach the position you are in now?"

Marko "The most useful skills that I have learned and developed over the course of my career include research and analysis, project leadership, problem-solving, and communication. These skills have enabled me to effectively gather, organise, and evaluate opinions, discuss issues, and forecast patterns and trends."

Jack "So why did you take an interest in NFTs and Blockchain?"

Marko "What interested me the most was their potential to revolutionise many industries from finance, art, entertainment, games, fashion, sports to supply chains, registries and credentials by providing new ways for people to securely and transparently verify, transfer, and own assets."

Jack "In your eyes, what is the biggest impact NFT, blockchain and Web3 will have on the world and why?"

Marko "In my opinion, the biggest impact of NFTs, blockchain, and Web3 will be their ability to enable new forms of ownership, trust, and value exchange. These technologies have the potential to disrupt and transform industries by providing secure and transparent ways for people to verify, transfer, and own assets."

Jack "Could you talk us through some of your predictions for how the landscape of Web3 will change over the next few years?"

Marko "It is difficult to predict the future with certainty, but some potential developments in the Web3 space include the continued growth and mainstream adoption of NFTs, the development of mixed reality and improved blockchain technology, and the emergence of new use cases for these technologies."

Jack "Can you give us your opinion on potential use cases for Web2 businesses to be able to use NFTs to change people's lives?"

Marko "There are many potential use cases for Web2 businesses to use NFTs to change people's lives. For example, NFTs could be used to enable new forms of digital ownership, such as ownership of certificates or real estate. They could also be used to create new ways for people to invest in and trade digital assets. I also expect

e-commerce in general to evolve heavily due to NFTs."

Jack "In your opinion, what are some of the potential problems or blockers which need to be overcome before NFTs become mainstream?"

Marko "Regulatory uncertainty, scalability challenges, and the need for user-friendly interfaces and tools."

Jack "So with all that in mind, what does the future hold for you personally? Marko "Well, just recently I added AI technology to my radar again by publishing a new research paper titled "The Impact of Generative AI on the Future of Visual Content Marketing"

In this paper, my colleague and I explore the potential for generative AI to revolutionise the way businesses create and distribute visual content. We discuss the benefits of using AI to automatically generate images, videos, and other forms of visual media, and we offer insights into how businesses can leverage this technology to improve their marketing efforts.

I strongly believe that the use of generative AI in general will become increasingly important in the coming years. Visual content is just the first step toward mass adoption.

As blockchain and AI technologies continue to evolve and advance, they are likely to have a significant impact on various industries and sectors. In the future, we may see the integration of blockchain and AI technologies, which could lead to new and exciting possibilities for decentralised applications and systems. So, I'll be monitoring that."

Jack "As a leader in Web3, what advice would you give to people looking to follow in your footsteps?"

Marko "I can think of quite a few;

• Educate yourself about the latest developments and trends. This could involve reading relevant articles, attending conferences and workshops, and following industry leaders and influencers on social media.

• Network with other professionals in the field, including successful entrepreneurs, investors, developers, and other experts. This can help you build connections, learn from other's experiences, and gain valuable insights and advice.

• Gain relevant experience and expertise through education and hands-on work. This could involve pursuing a degree or certification in a relevant field, interning or working at a startup, or participating in hackathons or other competitions.

• Develop your entrepreneurial skills and mindset, such as problem-solving, critical thinking, and effective communication. This can help you identify opportunities, develop innovative solutions, and pitch your ideas to potential investors and partners.

• Be adaptable and open to new ideas and approaches. It's important to stay up-to-date with the latest trends and be willing to adapt to new technologies and methods.

• Take calculated risks and be willing to fail. As an entrepreneur, you will likely face challenges and setbacks along the way. It's important to learn from your mistakes and continue to pursue your vision and goals.

• Build a strong team and support network. Surround yourself with people who share your passion and vision, and who can help you overcome obstacles and achieve your goals. This could include co-founders, team members, advisors, mentors, and investors."

Jack "Can you introduce us to Niftify?"

Marko "Niftify is a no-code NFT commerce platform builder that offers all the tools Web2 brands need to enter the Web3 space from their own website. It is designed to be simple and user-friendly, like popular e-commerce platforms such as Shopify, Squarespace, or Wix.

Niftify combines the benefits of centralised and decentralised software development approaches, providing users with complete control over their assets while also offering a faster and more user-friendly experience. The platform offers all the resources brands need to enter the new era of Web3 in a hassle-free, simple, and fully compliant way."

Jack "What gave you the idea to create Niftify?" Marko "The idea for Niftify came from the recognition that existing NFT marketplaces, such as OpenSea, were not designed with non-tech savvy users in mind. The early stage of Web3 design is often difficult for the average person to understand, and so we wanted to create a platform that would make it easier for anyone to participate in the NFT market."

Jack "What problem does Niftify solve?" Marko "Niftify offers a no-code approach, allowing users to easily create and launch their own NFT marketplace without the need for programming skills or extensive technical knowledge. This makes it accessible to a wider range of users (creators, collectors, brands) and allows them to focus on their creative vision and building their community, rather than worrying about the technical details.

Another key feature of Niftify is its focus on compliance and legal first approach. Before development even began, the team spent countless workshops with legal experts and industry-leading legal partners to ensure that the platform would be fully compliant with relevant laws and regulations. This includes KYC/KYB/AML, automated taxes, copyright and license management, ERC and EIP standards, and safety AI checks.

Overall, Niftify aims to be a user-friendly, accessible, and compliant platform that allows users to easily enter the world of NFTs and Web3. It provides all the necessary tools and resources while hiding the complex technology behind a simple, intuitive interface. This makes it ideal for both tech-savvy users and those new to the world of NFTs and blockchain."

Jack "Why do you care about solving that problem?"

Marko "Because we believe that the NFT market has the potential to be transformative and democratising, but that this potential can only be realised if it is accessible to a wider audience. By making it compliant and easier for non-tech savvy users to participate in the NFT market, we hope to help unlock this potential and enable more people to take part in this exciting new technology."

Jack "Can you talk us through the technology stack you are using?"

Marko "The platform includes front-end and back-end functionalities. The main technologies used are AWS architecture (EC2, Lambdas, Aurora, Cognito, Amplify, S3, CloudFront, API Gateway, IAM, RDS, CloudWatch ...), SumSub, Zendesk, SalesIQ, Zobot, Figma, Alchemy, Algolia, Trustology, Google Analytics, Hotjar, Braintree.

Blockchain

On the blockchain part, Niftify includes a collection of EVM-compatible Smart Contracts:

• ERC721 & ERC1155

  • Royalties support, EIP-2981

  • Lazy minting support

  • Metadata hashing - we store on-chain metadata hash to preserve the integrity

• Marketplace

  • Royalties support, EIP-2981

  • Vault integration for custodial users

  • Dynamic fees

• Auction

  • Assets need to be transferred at auction start or bidding action to guarantee auction finish

• Vault

  • Storing assets (ERC20 & ERC721 & ERC1155) for custodial users and integration with other Smart Contracts

• NFT Drops

  • Merkle Root Tree implementation for NFT drops, so a creator can authorize complete NFT drop with one signature

Front-end

The platform is built with Angular technology as a Single page application. This makes the user experience very smooth since the entirety of static data is downloaded to a client only once, any additional communication between the front and back-end will only include the transfer of data. This is in opposition to traditional websites, which feel slow when switching pages because the entirety of the website is first rendered on the server and sent to the user. To optimise the website further, we also included Service Workers. The website is developed with localisation support for different languages.

Back-end

The back-end architecture is designed with horizontal scalability in mind. We made heavy use of lightweight microservices, which can be scaled up on the fly during times of heavy traffic. To provide a singular API calling endpoint, we used an Application load balancer, which is also responsible for the delegation of network requests across microservices. We regulate the workload of microservices with the help of Amazon’s Auto scaling groups, which are hosted in more than one geographical location to prevent system downtime. For database solutions, we use Amazon Aurora, which provides the fastest transfer speeds possible for cloud solutions. Using Amazon Aurora also ensures 24/7 availability because there is no single point of failure. The database is hosted in more than one of Amazon’s availability zones, which ensures the availability of the service in the event of natural disasters or similar. Amazon Aurora is also horizontally scalable by default."

Jack "What does the future hold for Niftify? Can you talk us through the roadmap for the next few years?"

(Pictured from left to right: Bruno (Co-Founder & CEO), Marko (Co-Founder & COO) and Emil (Co-founder and Head of Growth))

Marko "The future of Niftify is bright, as we continue to develop and improve our platform to make it easier for Web2 businesses to enter the Web3 space. Our roadmap for the next few years includes the continued development of new features and tools, as well as partnerships and collaborations with other industry leaders."

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We really enjoyed understanding Marko's career journey and why he loves working with NFTs in Web3. He shared some interesting thoughts on the future and shared some brilliant advice on skills to learn and develop to build a career in the space.

Niftify sounds like a fantastic project and I have no doubt that the business will play a huge part in making the transition from Web2 to Web3 seamless and easy for businesses around the globe. If you're looking to incorporate NFTs into your business and would like more information, react out to the team at Niftify.io!

We'll be keeping a close eye on Marko and Niftify for years to come, exciting times ahead!

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To get involved with Behind The Blockchain or for recruitment related conversations reach out to Jack on Jack@unveilrecruitment.com