Entrepreneur Issa Sammak will launch his NFT Project – Kong WFC along with Turkish actor Burak Özçivit and renowned Blockchain entrepreneur Mikail Emre Caliskan.
NFTs have the potential to be infinitely useful in many industries by increasing security and processing costs for transactions and providing a new platform for the gig economy to work through. The recent influx of news surrounding the trend of non-fungible tokens (NFTs) that have been fetching staggering amounts online has a universal reach.
Although they have recently become a new fad for celebrities to spend millions on, NFTs have a surprising amount of utility that comes along with their collectability. As we continue to explore this new, completely-digital asset class, today we will learn what Entrepreneur Issa Sammak has to say on the practical use they can provide: a highly secured, comprehensive approach to online business transactions.
Before moving ahead with entrepreneur Issa Sammak’s views on the practical use of NFTs, let us know a little bit about him.
Issa Sammak is a Lebanese serial entrepreneur, investor and author who has become a powerhouse in lifting small and big businesses to bigger heights. Besides, he has himself established several businesses some them being Growide Digital, BIODASH, and Baliwhite and many more! Moreover, entrepreneur Issa Sammak lives through Dubai, USA, Istanbul and Lebanon due to his business commitments.
Recently he has dived into an NFT project of his own – ‘Kong Warriors Fight Club aka KongWFC’ along with Turkish actor Burak Özçivit and renowned Blockchain entrepreneur Mikail Emre Caliskan. The KongWFC is a special NFT collection limited to 9977 pieces and offers VIP privileges to NFT owners. Each NFT in this collection is a unique 3D character and is created on the Ethereum Blockchain and the collection consists of 9,977 ‘Kong’ characters, each with different warrior characteristics. KongWFC NFTs will be tailored for users, with events attended by world-class celebrities and entrepreneurs. These NFTs, which can be used as ‘PFP & Utility NFT’, will also give access to the ever-improving KongWFC fighting game in “Metaverse: Kong Warriors Fight Club“.
Continuing with entrepreneur Issa Sammak’s views on the practical use of NFTs, here’s what he has to say:
‘Moving beyond Art — NFTs for business’
According to Issa Sammak, the utility for NFTs lies in their use of Blockchain technology; a decentralized digital ledger that is almost impossible to alter or hack. Beyond proving ownership of a unique digital asset, this technology has almost limitless applications beyond simple pixelated art. “Imagine a world where the deed to your house exists as an NFT. Instead of having to be re-generated every time the house is sold, the deed would log all changes automatically, making closing a breeze. Not only that, but it would also be much more secure — nobody would be able to forge house ownership, because they wouldn’t be able to alter the NFT.” says Issa. He adds, “This wouldn’t just apply to houses, either. It would be useful in any environment where ownership needs to be tracked and proven. Instead of having to spend time hunting down the paperwork to prove you bought and owned something, the NFT would provide a perfect record of the entire ownership history of an item.”
‘A more secure transaction platform’
In today’s age, Paper-based transactions have almost become inefficient, requiring more human employees and have a tendency to be lost. However, they have one advantage over the cloud-based documentation in use today: It’s often easier to prove a paper document’s authenticity. Documents stored online can be hacked, duplicated, or altered, which costs companies millions of dollars every year. Says entrepreneur, “NFTs of the future could solve both of these problems. They bring a new layer of security to digital transactions while simultaneously improving efficiency. Anyone involved in a transaction can see the NFT’s journey from creation to the final version in real-time, as well as know exactly who else was involved in that journey. It creates a virtually unhackable system that’s encrypted, able to be easily distributed and can’t be altered.” According to him, Identity theft could become a thing of the past. The asset that an NFT represents is tracked and verified to exist, which heightens confidence by all parties to a transaction that it’s accurate and above-board.
‘A true win-win technology’
According to Issa Sammak, NFTs have the potential to drastically reduce transaction processing costs for both the buyer and seller of a good or service. The fees involved in these transactions, which are often a function of the analog systems that are used to process them, could be dramatically reduced. This could also create the ability to increase the volume of transactions. ‘NFTs are easy to mint, and one person can mint several in an hour — something they can’t do with physical documents or even many digital documents.” says Issa. He adds, “The Blockchain technology that underlies NFTs has already changed the world, and it will continue to as businesses work through issues like interoperability and widespread adoption by average consumers. Instead of remaining a high-priced novelty for the people who already have everything else, the NFTs of the future will be judged by how efficient and secure they make everyday business. There aren’t any losers in that world, apart from perhaps the less-than-savory characters taking advantage of today’s systems.”
Connect with entrepreneur Issa Sammak on his Instagram handle where he has more than 97K to know more about NFTs and his upcoming project – ‘Kong Warriors Fight Club aka KongWFC’!
