Kyle Tut Co-Founder of Pinata talks about IPFS, NF

Wislow Kyle, thank you for hopping on the show. It's good to have you. Yeah, no, I'm excited to be here. All right, so why don't you give a quick introduction about yourself and how you got in your adventure with Pinyata? Yeah, absolutely. So I'm the co-founder and CEO of Pinyata. I co-founded Pinyata all the way back in 2018. Very, very much before NFTs became a huge

thing, but what Pinyata is is the home for NFT media, which means we help manage whatever the files are associated with an NFT, whether that's the images, videos, whatever it is. In the way I got in the space is kind of like a bunch of other people. I got interested in crypto back in the day. So like 2015, 2016 was on Reddit on subreddit. It's reading

all sorts of things like that. And a very, very good thing about it. And eventually came to came up with the idea of Pinyata along the way. Awesome. That's awesome. Now what is your perspective of NFT? Is it like a formula or is it form? Yeah, so the thing that I love about NFT is they can be used for anything. So when, when we started Pinyata

back in 2018, we weren't specific to NFTs, but what we did was kind of, like, we just wanted to be like, you know, I'm like, what's up? What we did realize early on is that NFTs could represent any kind of piece of data or any file you could imagine. So that, that's pretty flexible in our opinion. And so, you know, in the beginning, it was just

simple images that NFTs were in, and now what we're seeing is that NFTs are actually becoming full blown applications. So people are uploading full applications attaching them to NFTs and then, you know, providing the service or, or whatever the application is doing with that NFT. And so what we get excited about is you can take these things anywhere. We believe ultimately any piece of data, any

file, any application can be an NFT. And it is the future of how data and files are going to be transacted every, every piece of data, every piece of every file is going to be attached to an NFT, most likely on IPFS, which is the protocol we use. And then those, those, pieces of data those files are going to be traded and transacted attached to NFTs.

And so we think it's, we think it's a super exciting space and is going to go much beyond just simple images and videos. What you've seen so far. Absolutely, absolutely. And I'm super excited to see where it goes next. Now, you mentioned IPFS. Does that have to do with off chain? Yeah. So IPFS, I think it's a really good thing to do with off chain. So

IPFS is, or the interplanetary file system is a protocol that piata runs on top of. And the reason IPFS is in the space is because storing data on chain, so storing it on the blockchain, regardless of which one is actually really, really expensive. So if you want to distort, just like a gigabyte of data on Ethereum, it would cost millions of dollars to do so. And

so what people do is they use IPFS. Because of some security properties associated with it to lower that cost associated with storing data. So again, whether it's images, videos, whatever you can think of, people put it on IPFS. It lowers the cost, but keeps some security properties that are good for blockchain. And just makes it much easier and much less expensive to actually manage data associated

with blockchains. That's awesome. And I think that's a great thing to do. You guys have a thing going on with Brave. How is Brave helping with IPFS? Yeah. So essentially with IPFS, it started in 2014 and it's a peer-to-peer protocol. And so what Brave has done is actually embedded an IPFS node in your Brave browser. So you can actually connect IPFS nodes together. So you can,

you can, you can do it. You're radically connect your nodes to Pinyata nodes or other IPFS nodes. And you're also able to choose your own, what's called a dedicated gateway. I won't get too deep down, down into the technology, but you can choose dedicated gateway such as a Pinyata dedicated gateway or I have my own dedicated gateway called Kyle to that.com. That allows me to serve

content on the IPFS network through the Brave browser, which is really exciting and great for IPFS adoption. Okay. Okay. Now, how can users apply custom domains dedicated to IPFS gateways? Yeah, for sure. So to back up just a little, what gateway does is it's really good at like serving content from the IPFS network. Usually, you know, if you're interacting with an NFT, there's a high likelihood

that that content or that media is on IPFS. And you're actually experiencing it through a dedicated IPFS gateway. And so what people can do with Pinyata is they can, they can show up to our website and they can actually spin up their own gateways and apply their own names. Like I said, you know, mines Kyle to that.com. So any NFT that I end up creating, I

actually use these dedicated gateways to serve that content, whether it, again, it's images, videos, music, whatever. Whatever kind of content I want to serve related to my NFTs, I use these dedicated gateways to do that. And a significant portion of the NFT space actually uses these things to do that. Okay. And on the website, you guys have tools that Pinyata provides is a simple to use.

You can, you know, five year old or a 10 year old get navigate through the website. Yeah, absolutely. So we tried to make IPFS as simple as possible for for anybody to use. And it's where quite a bit of our kind of success has come from. We started out as a developer tool. So we had a technical API that developers could use to upload content to

IPFS. And what we did is we actually ended up making a simple user interface so that anybody could actually use it. So non technical people me being non technical myself. I couldn't use the API. So I, I wanted, I wanted like an interface that I could upload my content to. So what we've seen is, I'm going to use the app. And then there's a bunch of

NFT creators out there. Use our, use our interface to upload their content to IPFS and ultimately to Pinyata. And then they take that content and then they will attach it to whatever their NFTs are. And the cool thing about. IPFS is that it works for any blockchain. So we, we get to see people using, you know, Ethereum, salon, tasos. All of them, all the blockchains out

there. So they're content and then attach it to NFTs. And then they will manage, manage their content from Pinyata for the, the NFTs that they've sold. Okay. Okay. Yeah, I'm not really technical savvy either. And ever since I got involved with blockchain technology and crypto is really. It kind of forced me to get, to get knowledgeable about about everything. Yeah, there's a, there's obviously an amount

of just technical background. You have to have encrypt. And I think one of the, one of the cool things about, you know, I've been in the space full time since 2017 is there's been huge advance advancements in, you know, not needing to be that technical. I think the growth of NFTs itself kind of shows that the space is getting easier to use, but it's still not

quite there. There's, there's still some things that could definitely be easier to use. So we're, we're excited to help with that process, but also to see the space. That's too big and more prioritize it can get really fast. So before the starting bonus, we're to also guess, Number 3, I feel great, come back, you know, there's a set of bepage and alsoenyay findet set. There's a

set of times in the box first of the code DRS and there's a set of different giveaway programs that your, a setclip is all about, a ways of learning things and finding out the different forms of, you know, anyhow, when buyingunderERE challenges using NDR, you can just kind of do your own with a set of WiFi and unit with all your workflows and all of yours,

that's awesome. And so, remember, all important things, that you get a book, you know, and let's talk about a key point because, we'll take this topic, so, we can calculate if you stop, what it's all going onier training everyday, what's all that's giving you an ass try to improve your ways, that really those not everybody knows everything perfectly in one subject, so you always constantly guys

trying to learn something, least every day. Absolutely. So, what is the future of token dating? Token dating? Yeah, absolutely. So, when the NFT space first started out, everybody in the NFT space actually assumed or kind of operated with this idea that all the content was going to be public, so if you saw an NFT, like a Vort Ape or something like that, that image related with

the NFT was public and anybody technically had access to that content. Well, we saw very early on in the NFT space is that people, you know, didn't want just public content. And so what they started working on is trying to do private content associated with NFTs. And that's where this idea of token dating comes from. What we saw in the space is, NFT projects like 10k

PFP drops and things like that, we're using discord to try to gate content. So what they would do is they would be like, hey, you need to own one of my NFTs. And by owning that NFT, you get access to a private discord channel. And by having access to that private discord channel, you could get access to private content or exclusive content associated with that NFT.

And us, Tanya, being, you know, at the end of the day, we help serve content and manage media on IPFS. We were like, hey, we can actually just kind of simplify this and make it much easier where people could upload content to private IPFS, private IPFS node. And then serve that content based on whether or not, you know, that person owns the NFT. And so that

that is what the concept of token dating is. It's allowing or giving access to that NFT. To content based on whether or not you have that NFT sitting in your wallet. And we think it's a very powerful concept that's going to kind of take over the NFT space moving into the future. And we think it's going to be very much the norm where all content or

most content associated with NFTs actually will be private. And you just simply check in your wallet. Do I have the NFT. If yes, I get access to the content. If no, then you don't get access to the content. And we think, you know, whether it's exclusive content like music or access to applications, we think token dating is going to be a basic building block of NFTs.

And our submarine feature is actually built specifically with this in mind to manage content based on whether or not you own the NFT. Okay. Okay. It's, it's really neat. Now, I think it's really neat. Explain how people are going to use assets and consumables in the meta metaverse. Yeah. So at Pinyata early on, we were struggling with this idea that all NFTs were valuable. We didn't

we didn't think that was necessarily true. And the reason for that is I actually created my first NFT. In 2018. And I had written my first blog about. NFTs in 2017. And so I've been I've been thinking about NFTs for a long time. And I realized that. You know, all these things they weren't all valuable. They shouldn't the price of them shouldn't go up. And, and

you know, what I had to kind of process and think through is like, okay, what is an NFT. And ultimately what we decided is that NFTs can be anything as I kind of alluded to. And so if you think that is true. Then you realize that an NFT could represent an asset and an asset could be something like a building or, you know, piece of property.

Or even like an LLC like a LLC to run a business is technically an asset. But it could also be something like a consume a consumer would be something like a cup of coffee. Right. And so if we want to use this coffee analogy. An NFT can represent both the ownership of the coffee shop itself. The business. Of the coffee shop. But it can also represent

the consumable of the cup of coffee. And the thing that is obviously, you know. Interesting about consumables is ultimately they go to zero right when you buy that cup of coffee. Let's say for $4. As soon as you have it technically you do own it you have you know you you have control of it. But most likely as you drink it the price of that coffee

is going down and once you drink all of it is going down and then you can. And so once we put it in the frame of assets versus consumables. We realize that not all NFTs are created equal and they're not all the same. And by dividing them or separating them out into these kind of different. These different arenas it gave us a clear view on like

where we think the space is going to go in the future, which is. You know there will be asset NFTs that have value and will increase in price. And those are going to look at lots of things. There are a lot more like applications or businesses. And then there's going to be NFT consumables which will go down in price. And like once you use it once

it might. You might never have access to it again. Right. And so we think. You know it's basically going to be everything above. It's going to be everything that's going to be an NFT. And so you just have to realize what it is and that kind of helps protect you. And that now you know this probably shouldn't shouldn't actually be worth the let's say a million

dollars or whatever it is. It should only be worth $5 or whatever. So yeah that's that's kind of the paradigm that we've created at Pignata to analyze what type of NFT we're working with. Okay. Okay. Is there limitations to what. You're looking to help people with their NFTs. Yeah. So we we don't handle. The same thing. And it's kind of been a unique position for us

as a company. We've never done the minting itself. Instead we have marketplaces or minting platforms. Actually integrate with us to manage the content in the media. And they handle all the the minting associated with the NFTs. And. And if you're having the best experience with the content and the media. And then we let the the minting platforms and the the minting projects focus on innovating with

the NFTs. The the other unique thing we found is that a lot of these projects want to create their own their own contracts their own NFTs. And if we were to come in and say, Hey, this is this is the type of contract you should you should be using. A lot of them actually wouldn't use that contract. So it puts us on a nice position to,

you know, get to focus on the content and the media and they get to big it to focus on, you know, building cooler and better NFT contracts. And he's like thinking about going into going into the metaverse environment real estate. And I was just thinking that was pretty cool. How how things are more evolving towards technology and how. He's going to be able to make money

in a different arena and technology. So. Yeah. No, it's a it's a very cool concept. And. You know, I I'm not a speculator or anything like that. I like. I don't, you know, flip, I guess NFTs if you will, but the the idea of, you know, they're being more valuable places associated in the metaverse makes makes a lot of sense to me. The other the other

interesting thing we've seen in the NFT space is people are trying to use NFTs to represent real property. And what's interesting about that is it's actually a very difficult thing to do. And the reason for that is. Anytime you're trying to connect a real world thing to a an NFT, there's always the risk that the NFT doesn't actually do a good job of representing that. Let's

say piece of property. And the reason for this is because. At the end of the day, you need really good data to represent an asset or represent something. And it's very difficult to get good data associated with real world assets to represent it at. And then NFTs, and so what we like. We like to see is how people are trying to make that connection between the

real world, if you will, and digital NFTs and and how can you do that and secure and reliable way. Alright. Now we're coming closer and is there any final words about NFTs that you want to bring up before we get out of here. Yeah, I mean, just what I would say is I really do think. I think NFTs are going to be full blown applications. So

instead of going to, you know, the app store or the play store, you know, you're probably going to go to something like OpenC. And that's actually where you're going to interact with and get new applications, which is a really exciting kind of paradigm and a cool way to think about things. And it really kind of opens up how you think about NFTs and how people are

actually going to interact with. And to be able to monetize and build businesses associated with NFTs. And that's the thing we're most excited about is, is how do we help people build businesses using using NFTs and help them be successful doing so. Excellent. Excellent. Hey, man, I really appreciate you coming out on the show. I had a really good time talking about this. And you definitely

help me gain some knowledge about NFTs and blockchain technologies. And IPFs. And I know you're a busy guy dealing with blockchain. It's got a lot of your mind, man. I'm pretty sure you're up to your eyeballs with things to do. So absolutely. And do thanks again. And yeah, thank you. Best of luck with your endeavors. Awesome. Thanks for having me on. No problem, dude. Take it

easy. Thank you for tuning in the crypto kit podcast. I hope you enjoyed that episode as much as I did. And I'm going to be able to do a lot of things. And if you are feeling generous, please help support my channel. You can become a monthly subscriber. In the links down below. Or you can donate to my Bitcoin wallet. Also in the link down below.

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