Saad Abdullah was born in Sydney but has lived in London and Riyadh before settling in Dubai where he has been raised for the past 10 years. ‘‘Originating from Pakistan, my diverse background has exposed me to various cultures, languages, and norms that have shaped my day-to-day interactions,’’ says the 18-year-old.
Two years ago, amazed to see the impact that entrepreneurs had in shaping the future and keen to build a better world, he created a solution of an NFT marketplace that uses smart contracts in the blockchain to authenticate apparel. ‘‘Now at 18, I have brought my idea to life with BNFT and am using my own brand to showcase the practicality of this technology in the fashion space. My vision is to build a platform for various brands to authenticate their products and protect themselves from counterfeiting,’’ says the Gems Dubai American Academy student who is pursuing the IB Diploma Program with Business Management, Economics, and Computer Science as main subjects.
Two years ago, amazed to see the impact that entrepreneurs had in shaping the future and keen to build a better world, he created a solution of an NFT marketplace that uses smart contracts in the blockchain to authenticate apparel. ‘‘Now at 18, I have brought my idea to life with BNFT and am using my own brand to showcase the practicality of this technology in the fashion space. My vision is to build a platform for various brands to authenticate their products and protect themselves from counterfeiting,’’ says the Gems Dubai American Academy student who is pursuing the IB Diploma Program with Business Management, Economics, and Computer Science as main subjects.
Excerpts from an interview:
What got you interested in entrepreneurship and business?
I always admired Elon Musk’s constant attempts to innovate with technology and deliver creative approaches to solving different problems. At the beginning of the pandemic, many entrepreneurs from around the world began adapting their business models to cater to the changing global conditions. I found this very interesting because it showed how important business solutions were in solving various problems that people face. I love watching movies, and watching films such as The Social Network, Steve Jobs, and The Founder inspired me to follow my own entrepreneurial path to see how I could make a difference with my own solutions.
Have you taken any extra courses/programs related to business?
Yes. In summer 2021, I spent two weeks at an internship at a Venture Capital firm in Dubai, BECO Capital. This experience exposed me to the ‘startup culture’ in the UAE and allowed me to gain a first-hand encounter with the financial side of startup businesses. Also, I was able to attend a two week summer program in New York City in July 2022 at New York University. This program revolved around Entrepreneurship and helped me build a perspective on concepts such as an Enterepnurial Mindset.
How did you create the NFT marketplace?
I was watching a Mark Cuban interview at the beginning of 2022 where he was discussing the importance of Web3 technologies following the extravagant rise and fall of NFTs in 2021. He highlighted the lack of real-world application in the majority of NFT projects at the time and emphasized the importance of smart-contracts that back an NFT. I began to brainstorm solutions to various problems that involved NFTs under a real-world context. Having experience in resell markets for Yeezys when I was middle school, I began to research into NFTs as a means to authenticate physical products in high-demand. This led me to design a solution of an NFT marketplace where each NFT is linked to a product (in this case my own brand) that acts a certificate of ownership/authentication for that specific product and expresses digital art through fashion. This highlights the exclusivity of the product and acts as a backing for the unique NFT linked to it.
How do you think your idea will be useful?
With counterfeit markets having ruined the image of various brands across the globe and stolen billions of dollars in the trade of fake goods, many designer brands could benefit from BNFT’s platform. By linking a designer product to an NFT which is displayed through a QR code shown on the physical deisgn, not only can customers tell the difference between a fake and real product, but now there is an additional ‘angle’ to the product in the unique digital art linked to it.
Who were your mentors?
My father has always played a big role in guiding me in every part of my life. He emphasized the importance of having discipline, hard work, and integrity.
What advice can you give students who are planning similar projects?
I believe that if you have a dream, you must do whatever it takes and whatever is necessary to turn that dream into a reality. Its important to foster a growth mindset when pursuing an entrepreneurial path. This requires various habits to develop. Manage your time effectively, this will help to organize your schedules and workload. Evaluate your strengths and weaknesses such that you can determine areas of improvement and figure out where you need to place emphasis on. Lastly, be driven to working toward your goals. Learn to work around problems rather than just avoid them.
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