Meet Miguel Adwin, the founder of Fimi Market Inc. He has a true passion for technology and entrepreneurship with over two decades of experience. Miguel is the archetype creator and product builder. His extensive experience ranges from financial systems, e-commerce, homeland security, managing enterprise teams and delivering tested and secure products using big data. Having heavily used cryptography before it was cool, the crypto and Decentralized finance (DeFi) space provide a healthy environment to merge his entrepreneurial skills with his development and architectural chops.
Fimi Market Inc is a tech startup founded in 2021 with primary focus on the crypto industry. Their first product will be an NFT Marketplace launching in Q1 2022 with an already released utility token. Fimi (“Fih-me”) is a Jamaican term that means “for me.” The token and the marketplace have been aptly named FIMI and Fimi Market because they believe that there is pride in ownership. While the Fimi NFT Marketplace is for everyone, they particularly champion art from underrepresented communities in the Caribbean and African Diaspora. Fimi Market Inc empower artists to showcase their work on the NFT platform, thereby cutting out gatekeepers and middlemen who notoriously take large cuts of artist’s payments. Here is our conversation with Miguel.
Q: Are you a business person or entrepreneur or both?
A: Both actually. In addition to being a business person, I am also a software developer by trade, so being solution-oriented leads me to create business solutions from my own ideation to reality.
Q: What was your profession before you started Fimi Market?
A: Some would describe me as a serial entrepreneur because I have always had my own outfit. I have owned and operated my own software development company for the last 20 years and am also currently a partner in a Jamaican company in the Air Quality, Waste Water Treatment and Technology space.
Q: Can you explain NFTs and Cryptocurrency using Jamaican-style examples?
A: Imagine Coronation Market for artists, not just some, but all artists. Musicians, graphic designers, singers, painters, ceramists, and filmmakers all selling on the platform. Now, imagine if the world could visit Coronation market in the blink of an eye and be your customer. Instead of paying rent for the stall and other expenses that cut out their profits, the sellers get to keep their money. The best part is, nobody can bandulu or copy their art, and ownership is easily proven. As long as the blockchain or turf exists, the artist dem nice.
Q: Did you face any challenges in mobilizing your capital?
A: Legitimacy and the proof of legitimacy. The crypto space is littered with scams and broken promises. Crypto is a vibrant and lucrative arena, unfortunately, those are the recipes that scammers and con artists thrive on. With so many bad actors, the challenge becomes trying to elevate yourself and prove that you’re legitimate. This is important because our capital raise for our marketplace was done through a public offering of our utility token, it’s important to be taken seriously to get buyers. Transparency in our business operations has taken us a long way in terms of perception of value and trust. We have hit every milestone on time and even ahead of schedule according to our roadmap.
Q: Tell us about Fimi Market??
A: Fimi Market was born out of a need to serve artists in an intentional way. In travels, I always visit craft markets and the issue is usually the same, artists are not getting paid their true value. The NFT space is exciting because it means artists are more empowered to sell their art and negotiate contracts as they deem fit. There isn’t any pressure to pay exhibition fees or give your agent a hefty cut. Fimi Market Inc is here to level the playfield.
Q: Currently what is your biggest business challenge?
A: Fimi Market is a crypto-focused business trying to increase adoption in the Caribbean, African Diaspora, and developing countries. Education is the biggest challenge in this effort. Ensuring that the target creative pool has a working knowledge of the space is a prime directive of ours.
Q: Other than the money what types of satisfaction do you get out of your work?
A: Problem-solving. I’m like a dog with a bone when it comes to finding solutions to problems and I am tenacious! There is no greater satisfaction to me than innovative problem solving, it really is a high that keeps getting chased.
Q: What motivates you on a day-to-day basis?
A: My motivation comes from never wanting to fail, not a fear of failure but just the unwillingness to fail. Another motivating factor is my upbringing, I was taught to always look out for my family and neighbor, it is ingrained.
Q: How do you motivate people that aren’t close to you and enable them to see your vision?
A: I appeal to their humanity and show them mine. My vision for Fimi Market is about opportunity, inclusion, and diversity. When I explain that we are here to provide an avenue, to open the door for under-represented people to enter the crypto space, I can feel the energy within people getting powered up. Humans typically desire the feeling of success, particularly success that they can point to as being rooted in their own actions and talent. We all just need the opportunity.
Q: How do you remind yourself of what’s important?
A: While I can be very focused to the point of fixating on my work, I would lose sight of what’s important without my family and friends. I have a close network around me that feeds my soul and reminds me that life is about relationships. Because my circle is so habitual, I don’t actively remind myself, my lifestyle does.
Q: What time do you wake up and do you have a routine?
A: I am usually up by 6 AM. I actually do not have a routine; I intentionally mix my days up so that they don’t get too monotonous. I will even change where I am coding from sometimes, just to change the environment.
Q: Do you have any hobbies?
A: Tennis, running, coding (don’t judge the nerd).
Q: Seven days, six nights, all-expense paid, my vacation destination is…
A: Ghana. I am yet to visit so if you’re offering then let’s go! The majority of Jamaicans originate from the west coast of Africa and my intention is to visit. We might need to extend the 7 days to 30 though.
Q: My favorite guilty pleasure is…
A: Nollywood series and movies. I learn so much about the culture and the people and just love to watch people like me doing our thing.
Q: My favorite Jamaican food is…
A: Ackee and saltfish. Cliché but oh so true.
Follow Fimi Market:
- Website: https://fimi.market/
- Blog: https://blog.fimi.market/fimi-market-inc-signs-ras-kassa-to-mint-video-nfts/
- Twitter: @fimi_market
- FB and IG – @fimi.market