GalaxE Profile

GalaxE logo.

GalaxE.io is a blockchain startup by HODL Assets working within the Web3 space as an NFT marketplace.

Founder(s): Jenny Q. Ta

Industry: Blockchain

Founded in: 2021

Location: San Francisco, California

Interview With Jenny Q. Ta

Describe your product or service:

“GalaxE by HODL Assets is a marketplace for non-fungible tokens (NFTs). Applications for NFTs include collectibles, gaming items, domain names, digital art, and other goods on a blockchain. We also have a swapping feature (similar to Uniswap) that allows users to swap up to 450 different cryptocurrencies, as well as a publicly listed cryptocurrency token called the $HODL token that’s currently listed on the Bitmart and Bitrue exchanges.”

Describe your company values and mission:

“GalaxE can claim a first-mover advantage over our competitors as the first cross-blockchain Web3 NFT social metaverse. What differentiates GalaxE from other NFT platforms in the market today is that the platform enables creators and collectors to not only discover, collect, mint, and sell NFTs but to engage, socialize, and swap over 450 different cryptocurrencies while earning free social tokens to pay for minting and gas fees as they share blockchain-based digital goods. The marketplace integrates all these features and more into a single platform.”

How are you funded? I.e. type of funding, number of funding rounds, total funding amount.

“We’ve had several accredited angel investor rounds. We’re currently raising our Series A funding round of $15 million, of which $4 million has already been committed and signed.”

How big is your team? Tell us a little about them (I.e. co-founders, freelancers, etc.)

“The company was originally founded by two team members: one resides in South Africa and the other in the Philippines. Currently, I’m the CEO and chairperson of the board. The CTO and I manage a team of approximately 30 engineers (mostly independent contractors) but work exclusively on the GalaxE.io platform. Most are working remotely in different parts of the world.”

How did you come up with and validate your startup idea? Tell us the story!

“As for anyone else out there, the journey was not easy for us. One of our co-founders, AJ, left school early under some bad circumstances and went to work, first as a packer and a cashier at a local supermarket, then at a string of different jobs. With no formal education, he interned at a software company and ended up staying there seven years. Eventually, his programs ran themselves, and he was no longer needed. It was then that he decided to explore the world of technology and NFTs. He crossed paths with Lenny, our second original co-founder, and they partnered on a project that became HODL Assets. The idea of accomplishing something that people said he would never be able to accomplish was, and still is, AJ’s inspiration. I joined the team in August 2021 when AJ and Lenny acquired my company, CoinLinked, and things have transformed from there.”

How did you come up with your startup’s name? Did you have other names you considered?

“Initially, the original founders used the name ‘HODL Assets’ with a ‘dot-org’ website domain. After I joined, I knew the dot-org wouldn’t fly, as in the US, that normally signifies a nonprofit organization, so we looked for a new name with an available domain under a dot-com or dot-io.

After a few days of searching, I found an available dot-io and suggested the name ‘GalaxE.’ It’s a unique name for an NFT marketplace aggregator but also recalls the names of similar companies like OpenSea, Rarible, Mintable, Cent, and Superrare.”

Did you always want to start your own business? What made you want to become an entrepreneur?

“I have always been an entrepreneur, and I love being one; I am a three-time founder. The role holds a lot of responsibility and discipline and at times is super stressful. But there are big pluses if success is attained: wealth, freedom, and the ability to be independent with your time. As far as the industries in which I founded my businesses, I love problem-solving through tech innovation.”

Did you encounter any roadblocks when launching your startup? If so, what were they and what did you do to solve them?

“Yes! Almost all startups should have roadblocks, especially first-time founders, which the original founders of HODL/GalaxE did encounter. Some of the problems have been resolved, while others are still being worked on.”

Who is your target market? How did you establish the right market for your startup?

“The Web3/NFT space’s overall target market is approximately $1 trillion with a 7% ACGR (annual compound growth rate) within the next five to six years.

Being an entrepreneur and founding a startup has to start from passion. It’s one’s passion to resolve a certain problem that usually initiates an idea for a business, and from there, the right market follows.”

What’s your marketing strategy?

“Our marketing strategy is a mixture of branding PR, conventional digital advertising, and social media influence through outlets like TikTok, Twitter, YouTube, Instagram, and LinkedIn.”

How did you acquire your first 100 customers?

“We were very assertive in building a community, particularly through social media. I’m most active on Twitter, where I’ve been listed as one of 8 Dogecoin accounts to follow (alongside Elon Musk, Mark Cuban, and the Dogecoin creator himself, Billy Markus). That’s the sphere where I do most of my connecting, and it’s helped tremendously in growing our customer base.”

What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?

“The Web3 space is still quite new, so there aren’t many dependable metrics for the space just yet.”

What’s your favorite startup book and podcast?

“Dave Parker’s book ‘Trajectory: Startup: Ideation to Product/Market Fit’ has spoken to me since it hit shelves in early 2021. As the title suggests, it takes you every step of the way in developing a full-scale business from a startup idea. It’s foundational for any would-be entrepreneur.

Amanda Boleyn hosts the incredible podcast ‘She Did It Her Way,’ in which she talks to women founders, entrepreneurs, and thinkers about their career paths and the philosophies behind their success. I’m constantly inspired by their stories.”

What is a song or artist that you listen to for motivation?

“I love Selena Gomez. Her music really pumps me up and puts me in a productive mindset.”

Is there a tool, app, or resource that you swear by to help run your startup?

“None for me, aside from good old-fashioned people skills.”

What is something that surprised you about entrepreneurship?

“I am surprised that there are founders who believe that simply having an idea, without any knowledge of how to run a company, will get them to unicorn status!”

How do you achieve work/life balance as a founder?

“Time management is key. If you want it, it can all happen. There isn’t one decisive plan – as an entrepreneur, all plans tend to go out the window.”

What is a strategy you use to stay productive and focused?

“I make full use of my passion. That’s all. Without having the passion to do what you do, you wouldn’t stay productive, be able to focus, or push yourself to get things done.”

Did you have to develop any habits that helped lead you to success? If so, what are they?

“Absolutely! Being an entrepreneur is basically giving up everything that a normal person would do at the present moment to get everything that a normal person wouldn’t have 10 to 20 years down the road. That habit is hustle!”

What was your first job and what did it teach you?

“I was a new-accounts clerk at an investment bank. There I learned that climbing the corporate ladder in male-dominated industries is harder than winning the lottery.”

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