Alvin Foo on building NASDEX and Web3's Infrastructure Evolution

Alvin Foo's journey from heading Google's mobile division in Greater China to co-founding multiple Web3 ventures reads like a masterclass in navigating technology cycles. In a conversation with Sri Misra on the alpha un# podcast, Foo shared insights from his three-decade career spanning law, satellite internet, mobile advertising, and now blockchain infrastructure.

The 10-Year Vision Framework

Foo operates with a simple but powerful philosophy: look at least 10 years ahead, then work backwards. This approach led him to satellite broadband in 2000 (predating Starlink by two decades), mobile advertising before smartphones dominated Asia, and blockchain infrastructure starting in 2015.

"I always have this notion that you have to look at least 10 years ahead," Foo explained. "Everything that you do that you look at 10 years ahead, then you can start to work backwards and see whatever that you're doing right now, would that be relevant in 10 years from now?"

His framework for separating signal from noise focuses on three critical factors: how much the technology will impact people, the size of that impact, and whether it can scale affordably. When applied to his early satellite venture, the technology passed the first two tests but failed on scalability due to expensive transponder costs and limited user terminals.

From Corporate Giant to Crypto Pioneer

Foo's corporate pedigree is impressive. After starting as a lawyer with a degree from Brunel University London, he built Via Communication Network from 1997 to 2006, which was recognized as one of Deloitte's Fast 500 companies in APAC for three consecutive years. He then climbed the ranks at global tech giants, serving as Head of China Advertising at Nokia, Head of Mobile for Greater China at Google, and Head of Mobility & Innovation at Omnicom Media Group.

The transition to Web3 wasn't planned. "I never had a plan to move into any of this thing that I'm doing right now," Foo admitted. His entry into crypto came in 2020 when a failed investment in a crypto analytics startup led to the creation of DAOventures, a decentralized asset manager that became his gateway into the Web3 ecosystem.

Building the Infrastructure Layer

Foo's approach to Web3 follows a consistent "picks and shovels" philosophy, focusing on infrastructure rather than consumer applications. This pattern emerges across all his ventures:

DAOventures - A decentralized automated asset manager utilizing smart contracts on Ethereum to create pooled investment funds with automated strategies.

ThirdFi - Co-founded in March 2020 as a DeFi Infrastructure-as-a-Service platform providing unified APIs for developers to integrate DeFi functionalities across multiple chains.

NASDEX - The flagship venture launching in January 2022, positioning itself as a regulated marketplace for trading tokenized real-world assets.

Metafyed - A Web 3.0 investment bank focused on Security Token Offerings (STOs) in full legal compliance.

NASDEX: Tokenizing Asia's $30 Trillion Equity Market

NASDEX represents Foo's most ambitious project, targeting the massive but underserved Asian equity tokenization market. The platform completed a $1.2 million strategic funding round that was oversubscribed multiple times, followed by a sold-out initial DEX offering.

The platform addresses a fundamental gap in the tokenization space. "Most of the good asset on real estate, they don't even need to be tokenized," Foo explained. "They will be sold quite easily if those are really high value property, prime property. They don't even need to be tokenized."

Instead, NASDEX pivoted to private credit after experimenting with various asset classes. "Private credit usually is like, you know, from two months, three months, five months, six months. So it's very short term and with a much higher yield, 15% to 20% depending."

The focus on corporate debt tokenization addresses a real market need while offering crypto investors higher yields than traditional stablecoins or T-bills. The platform emphasizes due diligence, requiring audited companies, proper KYC for both issuers and investors, and clear risk communication.

The Regulatory Navigation Strategy

Operating across Malaysia, Singapore, and China gives Foo unique insights into regulatory complexity. He sees regulation as ultimately beneficial for institutional adoption, even as China maintains its crypto ban while Chinese individuals and companies remain active in the global crypto ecosystem.

"Regulation is great because it will provide clarity on what we can do and what we can't do," Foo noted. "And that will also provide comfort to institutional participation and also a retailer."

His strategy involves working within friendly jurisdictions like Dubai, Malaysia, and the Philippines, which offer more flexible frameworks for tokenization while maintaining proper compliance standards.

The Pragmatic Futurist's 10-Year Outlook

Foo's decade-ahead vision for crypto reflects his infrastructure-first mindset. He predicts consolidation around one to three major blockchains, similar to how operating systems evolved, and a hybrid world where certain functions work better on-chain while others remain traditional.

"I don't see a fully decentralized world. I don't think that will ever be possible, but I will see a world-west hybrid," he explained. "Whatever that works on on-chain will be on-chain. Whatever that sits on the back will always be riding on the traditional network."

He believes stablecoins will become the foundation of Web3 finance, Bitcoin will achieve mainstream adoption including government reserves, and the distinction between digital and traditional money will disappear. "In 10 years time, it's gonna be value. So BTC, fiat and so forth, it's gonna be just value."

The Zero2Launch Evolution

Perhaps most telling of Foo's adaptability is the evolution of Zero2Launch, where he serves as Venture Partner. Originally a crypto-native incubator funding projects like DeFi11 and Biconomy, it has transformed into an AI automation platform offering GPT-4 APIs and workflow tutorials.

This pivot embodies his stated philosophy: "Learn and appreciate technology, but don't fall in love with it." The shift demonstrates real-time market adaptation and suggests a fluid venture studio model for navigating different technology hype cycles.

The Builder's Identity

When pressed about his primary role across building, investing, and thought leadership, Foo identified himself fundamentally as a builder. "If you were to ask me if I have to define one role, what I'm good at, I think I'm a builder. I think I'm someone, I'm the one that builds and I'm the person who ideate and build and that's what I do."

This builder identity explains his focus on infrastructure and his willingness to pivot when markets demand it. His approach suggests that successful Web3 entrepreneurs must embrace multiple roles while maintaining focus on solving real problems with scalable technology.

Foo's journey from corporate executive to Web3 infrastructure pioneer offers a template for navigating technological transitions. His emphasis on looking ahead, building foundational tools, and maintaining regulatory compliance positions him uniquely as the tokenization of real-world assets moves from experimental to mainstream adoption.

As the $100 trillion equity market begins its gradual migration to blockchain rails, Foo's decade of infrastructure building may prove prescient. His pragmatic approach to regulation, focus on institutional adoption, and understanding of Asian markets position NASDEX to capture significant value as tokenization scales globally.