“Owning an NFT is like having a Pokémon”: Q&A with Eddie Omega, founder of Bot Buddyz

About the project:

Bot Buddyz is a collection of 4444 NFTs with pixelated pictures of bots and a Web3 community on Solana. You can use unique utilities, tools, and play-to-earn as a community participant. This project is new, and mint on the Fellowship has just started today — on September 19.

The Bot Buddyz Team is also officially doxxed with Alphalabs.

Q: What do you think plays the most part in the project’s success — is it a well-thought-out marketing plan or pure luck?

A: It is probably a combination of the two. You do make your own luck, though, and it’s crucial to research potential promotion opportunities before leaping into them. In this space, it’s very easy to burn through a huge amount of cash for very little value in return. 

Q: Would you create your NFT if this whole market wasn’t as trendy?

A: Probably not, but not many people buy marginal player stocks either. You have to jump into projects that give you the possibility to reach as many people as possible.

The market “trendiness” is the catalyst for many projects’ creation.

Q: What are the worst and best things today about the NFT and crypto market?

A: The best thing is that it connects people from all parts of the world and allows them to bond and educate each other about space. The possibilities for projects are endless because you’re automatically involved in a global market without the hassle of reaching that step in conventional entrepreneurship.

The worst thing is the lack of transparency. Trusting any type of monetary transaction for a good or service is very difficult due to the lack of protection. People could lose their entire business due to a hacker; people could pay a good portion of their budget for a service and have the other guy block them. It’s very risky to enter any kind of transaction. 

Q: How would you explain to a five-year-old what NFT is and its value?

A: You get a cool image that is forever yours, and it will allow you to do all sorts of cool things on top of it. Like having a Pokémon: pick your favorites and enjoy their special abilities and features! 

Q: Does NFT have a chance in the market without additional value/benefits for the holders? If not, then why aren’t these benefits sold separately from NFT?

A: It would be way more challenging to bring the utility to investors without having the visibility that having a project gifts you. I think it’s difficult but possible to sell an NFT without utility; it all depends on the marketing and the hype behind the project.

Q: If you could meet Satoshi Nakamoto, what would you say to him?

A: I would ask him if he has a few Bitcoin to spare! 

Q: What can you afford with the money you make on the project? What do you want to be able to afford?

A: The priority is ensuring that our investors and the team are paid for their investments. At the moment, our only focus is to keep putting revenue into the business to keep growing and become an essential asset in our holders’ portfolio.