What do you think about the future of Bitcoin and the whole crypto industry?
This is the most difficult question right now. Well, I see Bitcoin as one of the most traded coins, and the whole cryptocurrency space has a promising future. I believe the future of cryptocurrencies is in tokens or coins as utilities and decentralized applications (dApps). I do believe Bitcoin will remain significant, but I’m not very sure about its price perspective because people are getting smarter and want to invest in something that will yield returns.
Tell me more about the use case of your company.
Well, we have a token, which is now a coin, called Grove Coin or Grove Stocks. A year ago, we were up 2,400% year-to-date. Imagine, in such a volatile market and uncharted waters, we managed to stay up and remain strong. Grove has a unique concept: it combines virtual currency with real business investment, making it one of a kind in the world.
What we do is take the net profit from our businesses and reinvest it back into the coin to reduce supply and increase the price. Grove has two separate entities: the virtual currency, which includes everything from the blockchain to the wallet, and the business side, which is divided into two parts – selling solar farming at commercial and residential levels and conducting hydroponic indoor farming at commercial and residential levels.
It’s amazing. What blockchain do you utilize?
We’re actually creating our own blockchain, which will go live next month. It’s called the Java Chain and will be the only blockchain backed by a real business that invests back into the chain to reduce supply and increase the price. Our circulating supply is one of the smallest out there. Our coin will be utilized on the chain itself, on the swap, in the wallet, and on our NFT marketplace and metaverse platform. We are building everything from scratch for a more transparent, healthier, and wealthier future for all.
NFTs will be built on our blockchain itself, so Java will be used as a currency to buy NFTs on that chain. The NFT market is changing; today, people need utility and use cases for holding NFTs, not just a picture. So, you can see one perspective for tokenizing assets with NFTs. In this regard, do you think real estate tokenization could be a trend in the future?
Well, let’s see. The more use cases for cryptocurrency itself and tokens, the better. We are also creating a stablecoin in Grove, which will be one of the few stablecoins backed by gold. We chose gold to back our cryptocurrency because, on average, over ten years, gold is always trending up. If anything happens to any currency in the world, our cryptocurrency will have a very strong value because it’s backed by a physical asset that always keeps going up in price, which is gold.
What is the metaverse?
In my definition, the metaverse is a virtual world where people can connect and interact. It’s very important because you can use it to play games, meet people, shop, and do everything in it.
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