Burnt Banksy: interview with the guy who burned an original Banksy to make a NFT
The Cryptonomist recently interviewed Burnt Banksy, founder of the NFT art project Burnt and a key contributor to the XION L1 blockchain. Known for his provocative move of burning an original Banksy artwork to create an NFT, Burnt Banksy is now on a mission to democratize Web3 and make digital ownership accessible to all. By simplifying crypto interactions, he aims to eliminate unnecessary barriers through crypto abstraction.
Burnt Banksy and his team have launched the XION Blockchain with a vision to "make crypto disappear." They secured a $25M funding round to support this mission. Crypto abstraction is at the core of their strategy, designed to make blockchain technology easy to use by hiding its complexities behind user-friendly interfaces. This allows people to interact with digital assets without needing to be tech experts. Features like meta-transactions, where someone else can pay the transaction fees, and familiar login methods enhance accessibility.
"We are at a pivotal point in the life of any startup, seeing great reception on our product. It is very clear that now is our time to scale what works," Burnt Banksy shared. The team has already made key hires necessary for growth and plans to continue expanding, providing resources for projects within their ecosystem to thrive.
For years, the crypto space has been confined to a highly technical audience, creating immense barriers to entry. Burnt Banksy emphasizes the need to break down these walls, making the benefits of crypto accessible to everyone. "People shouldn’t need to know anything to get the benefits of web3. Similar to how a user can scroll the internet without knowing the intricacies, making crypto disappear will allow this," he explained.
Interoperability is crucial for Web3 adoption, and XION is committed to collaboration with other Layer 1 (L1) blockchains. Burnt Banksy highlights their success with Abstracted Interoperability demo applications on Neutron and Injective, as well as their work with chains like Solana, AVAX, and BNB. Their approach involves replacing traditional wallets with Smart Contract Accounts, reducing pain points and enhancing collaboration.
Burnt Banksy believes in a holistic approach to ecosystem development. XION supports projects through marketing, product development, community building, fundraising, and more. Their ecosystem has grown significantly, with over 2.5M users onboarded, over 40M transactions, and an impressive array of projects and brands like Uber and The North Face completing successful campaigns.
Burnt Banksy's vision for XION and Web3 is to create a seamless, user-friendly experience that democratizes digital ownership. By focusing on crypto abstraction and interoperability, XION aims to break down barriers and make the benefits of blockchain technology accessible to everyone. With significant funding and a growing ecosystem, XION is poised to play a pivotal role in the future of Web3.
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