33-year-old Pakistani designer and entrepreneur Zain Naqvi has been affiliated with the Pakistani Startup Ecosystem since 2014. He currently works as Co-Founder and Head of Design at Alter, a local platform helping creators and businesses in emerging economies to connect. With collectors (of digital collectibles and NFTs) all over the world, the company hit the headlines in 2021 after auctioning off one of Pakistan’s best-known viral memes, the 2015 ‘Friendship Ended Mudasir’, for 20 Ethereum tokens ( a whopping $51,000).

Since Naqvi’s foray into the Web3 space, the designer has worked at Ape Harbour, the world’s first metaverse shipyard and is currently involved in a project that reinvents some of the apes that are part of the Bored Ape Yacht Club (BAYC), including curating one of the largest NFT and digital collectibles showcases in the country, taking place early next month. In addition, Naqvi’s work has appeared in various international publications, including the Venice Biennale’s Imago Mundi Project.

In a conversation with Forbes Life, Naqvi discussed the rapid evolution of Web3, why younger creatives need to stop playing it safe and instead continue to push the boundaries in terms of innovation, and much more…

SR: What inspired you to Web3?

ZN: Having grown up in Pakistan in the 90s, the social scene was very limited and the internet was an exciting new world. I remember talking to people on MSN and mIRC and participating in LAN parties, where we would bring our PCs to a central location to play games together. Many of the people I met in those forums are now professionals transforming entire creative industries in Pakistan.

As the Internet has evolved, I have been part of the shift from Web1 to Web2 driven by social media and now to Web3, which I believe offers a more democratic and decentralized approach to the Internet. I was very fortunate to have worked early on in the digital collectibles space on a project called Ape Harbor that used the Bored Ape Yacht Club IP to create the world’s first Metaverse shipyard. Working on this project was a great experience and it led me to be part of BAYC, the most important project in the Web3 ecosystem. This allowed me a lot of freedom in terms of my own creativity and position within the space.

SR: How has Web3 evolved since you entered the space in 2020?

ZN: When I first entered the space, there was a lack of focus on design and curation and more of an “anything goes” approach. However, over time, the space has developed its own aesthetic and has transformed the relationship between the digital and physical worlds. The space has also become more international, with the Asia and MENA regions seeing an increase in Web3 startups. No one was there back then, even some of the biggest founders I spoke to in 2020 and 2021 were just not convinced of the power of Web3, although these were visionaries in their own right.

Another key difference I noticed was that there were very few people around me. It felt like a largely homogeneous environment at the time. However, as the space has grown and become more international, I have seen a greater diversity of backgrounds and perspectives represented. This is a positive development, as it allows a broader range of ideas and experiences to be shared and included in the conversation. Although Web3 can still use more women leaders, creators and developers.

RS: As the head of design at your company, what does the selection process look like when it comes to selecting artwork (or agreeing to work with creators) to present to interested collectors?

ZN: Two words. Relevance and provenance. Does the work or creator have something original to say, or are they just excited to jump on the hype bandwagon? Provenance, because day after day people approach us to sell things that don’t belong to them and in a place like South Asia, trademarks and copyrights are shady territory. As a curator, I need to be sure that what I buy or sell is coming from the right source.

SR: Do you think the popularity of local memes (like the two sold through Alter) and NFTs by Pakistani artists is increasing in the crypto art markets? If so, why do you think it is gaining momentum? What are we doing at home that intrigues foreign buyers?

ZN: Memes are native to the internet and can have a global following despite being very local in origin. However, they are not necessarily tied to a specific location and can be shared and enjoyed globally.

The dynamics of a meme sale are different than a contemporary art or crypto art sale, as memes are from the internet and have their own unique characteristics and value in the history of the medium itself. Many artists in the space are working on high fantasy, South Asian futurism, or other innovative concepts that can be difficult to fully understand at first in the context of preconceived notions about contemporary society in the country. It is also important to consider the cultural and historical perspective of Pakistani art, both within the contemporary art world and in the realm of digital collectibles and NFTs. These artists are creating visual practices entirely their own, despite having numerous influences. I think what makes these works unique is the mix of influences and formal concerns that they represent.

SR: Many are still slowly coming to understand Web3 – what should artists and designers know about the space that would encourage them to enter the Web3 domain?

ZN: It’s important for creatives and artists entering the space to consider the roles they can play beyond simply creating and selling NFTs. These roles may include collecting, selecting, strategizing, and product design. It’s important to be focused and clear about what you want to bring to the table and work towards that goal, rather than trying to do everything at once. One particular gripe I have with my peers and younger creatives is that they often get pushed into a corner when it comes to the type of work they want to do.

When entering a new realm, it’s important to take a balanced approach and consider both the old and new systems. This may involve keeping certain elements of the old system while new ideas and innovations are introduced.

SR: How would you define a well NFT artwork? Are there any that you absolutely love?

ZN: To me, a good NFT artwork should do something that traditional painting, sculpture or new media can’t. This could involve using blockchain technology, data, machine learning, or artificial intelligence in innovative ways. It should also have a clear direction or movement beyond just being an illustration or a digital collectible. You need to push the envelope as a message as well as a medium.

I recently collected a piece from an AI artist who goes by the name of Memory Mod. I am also a huge fan of claire silver who is one of the pioneers of the NFT space globally. From the other side of the border, The work of Amrit Pal Singh It’s something I’m proud to have in my collection. I have also been bidding and negotiating like crazy to get a concrete piece of the Turkish phenomenon, Refik Anadol.

SR: Do you think music NFTs can be lucrative for musicians in the long run, let alone the big record labels?

ZN: As someone who is familiar with technology and trends in the digital space, I believe that music NFTs could potentially become the next big thing in the coming months. Platforms and communities for decentralized music streaming and royalty services already exist, such as Royal, Decent, and Opus. The relationship between physical and digital media is also an important factor to consider, as the success of the iPod was largely due to the rise of mp3s. As this relationship is better understood in the Web3 space, we may see even more growth and innovation in the NFT and music industry. I think tags would exist, but they will be of a newer type. Like what Netflix is ​​to Blockbuster. Same domain but disruptive distribution.

SR: What advice would you give to those hoping to sell their artwork as NFT? Is there anything you need to consider before flocking to NFT auction sites?

ZN: It is important to understand the distinctions between different genres and platforms. It can be confusing for someone trying to understand your work if it’s presented in the wrong context, and it’s important to know which NFT sites best suit your style of art. Also, I think it’s important to focus on creating value rather than just looking for profit. Money is the result of value, and if we focus too much on creating a façade of success instead of creating value, it can lead to problems like the current market situation and financial crisis.