Welcome to The Ask, where each week Crypto Investor interviews essential voices doing the work to make crypto 'mainstream.' Exchange lightly edited.

This week we spoke to Alex Masmej, CEO of Showtime and founder of $ALEX coin, about his belief that NFTs are set to reshape social media. Showtime is a social platform that allows creators and collectors to showcase their NFT collection.

You want Showtime to remake social media. Why is crypto essential to that?

MASMEJ: Facebook is against their users, because they're maximizing for revenue and their users are not — it just ends up being a worse product, long term. And so they can only retain their network effects for so long. But because crypto aligns everyone, everyone will be collectively making money. It seems like it is the better way of creating companies as a society. In short, humanity tends to form into monopolies. But with crypto, we can make those monopolies decentralized. We can share the monopolies’ financial outcomes with people. And this is not too altruistic. It sounds altruistic — we're gonna give more money away, and this is a bad deal for entrepreneurs. Actually, it's totally not … It’s kind of like the best of both worlds, which is capitalism and startups, rewarding entrepreneurs taking risks, and also rewarding the community.

Do you think people are coming around to the idea of a decentralized social network?

MASMEJ: I think this is the future of the internet. I think traditional social networks have a pretty bad reputation right now. We just haven't found any good alternatives. I'm super convinced that any crypto social network is better than a traditional social network, because crypto is the best way of creating apps that rely on network effects owned by the users. It's just a natural set of things that will happen as we evolve from web2 to web3. This is good, extremely exciting. I get to make more money for people, more money for entrepreneurs — it's going to accelerate innovation. And it’s also going to solve, I wouldn't say inequality that sounds a bit clickbait like. But if people are sharing in a protocol, when the protocol is growing everyone will make revenue to the same base. That’s versus today, where only wealthy people are paid in stocks, and most non-wealthy people get that in currencies, which get diluted with inflation. And so if people can be paid more in equity, or or have more assets, that's a net good for the world as well.

You mentioned the transition to web3. There are a lot of infrastructural scalability projects going on now key to the future of crypto. What does the future look like once they start to come to fruition?

MASMEJ: I think as soon as crypto scales, it is going to be a huge game changer. The supply of NFTs is going to explode. I'm super, super thrilled about this, because it will be a huge un-blocker. it will be like going from dial up to broadband on the internet. And that just unveils a ton of new things, a ton of new use cases. You can't really buy a NFT for $5 today with (Ethereum) gas fees — it's way too expensive. There will be just so many things that we don't really know will work because we’re not able to experiment with them right now. 

Welcome to The Ask, where each week Crypto Investor interviews essential voices doing the work to make crypto 'mainstream.' Exchange lightly edited.

This week we spoke to Alex Masmej, CEO of Showtime and founder of $ALEX coin, about his belief that NFTs are set to reshape social media. Showtime is a social platform that allows creators and collectors to showcase their NFT collection.

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