WEBVTT - Determining your value in Web 3.0 w/ Solo Ceesay 0:00:01.040 --> 0:00:03.960 Why would somebody like centransilation because it probably doesn't make 0:00:04.000 --> 0:00:06.360 sense in a lot of situations. Right, And if you 0:00:06.400 --> 0:00:08.760 live in the developed world, like a lot of people do, 0:00:09.680 --> 0:00:12.200 especially those that are purchasing n FPS, we live in 0:00:12.240 --> 0:00:15.000 a society that's based off the endorsement models. Right, Like 0:00:15.240 --> 0:00:18.000 you go to the bank, You're happy you're banking with ship. 0:00:18.120 --> 0:00:20.560 You're happy you're banking with Bank of America because that 0:00:20.720 --> 0:00:24.680 is a standard and a symbol of transparency and a 0:00:24.800 --> 0:00:27.480 symbol of, like, you know, a certain level of service 0:00:27.520 --> 0:00:30.360 that you can expect to have from these parties. You 0:00:30.400 --> 0:00:32.760 go to West Africa, you go to undevelop the parts 0:00:32.800 --> 0:00:37.120 of the world, you don't have that same luxury. I'm 0:00:37.159 --> 0:00:41.640 will Lucas, Mrs Black Tech, green money. I'm gonna into 0:00:41.720 --> 0:00:43.400 to use some of the biggest names, some of the 0:00:43.440 --> 0:00:47.000 brightest mines and brilliant ideas. I feel black and building 0:00:47.200 --> 0:00:50.280 simply using tech to secure your bank. This podcast is 0:00:50.320 --> 0:00:58.240 for you, Solo se says, chief operating officer and co 0:00:58.360 --> 0:01:03.200 founder of Calaxy, open social marketplace for creators by creators 0:01:03.240 --> 0:01:06.839 that aims to reimagine the entertainment industry and fundamental ways 0:01:07.120 --> 0:01:10.440 which we all interact with digitally. I'm at solo in 0:01:10.480 --> 0:01:13.400 person to April Tech Exact Miami, where he spent a 0:01:13.440 --> 0:01:15.959 lot of time talking about how the metaverse will change 0:01:16.000 --> 0:01:20.200 the game for influencers and marketers a solo. If he 0:01:20.240 --> 0:01:22.160 were to zoom, I would say three to five years 0:01:22.160 --> 0:01:25.240 from now, how might the metaverse change our lives in 0:01:25.280 --> 0:01:29.959 tangible ways? What will be different and say than it 0:01:30.080 --> 0:01:32.760 is right now? Yeah, I mean, I think from my perspective, 0:01:33.640 --> 0:01:35.800 the metaverse is something we've been working towards for the 0:01:35.880 --> 0:01:38.240 last couple of decades, right you think about it, with 0:01:38.280 --> 0:01:41.800 the rise of social media within itself or Xbox Live 0:01:42.000 --> 0:01:45.160 or gaming platforms, online gaming and the bloom that we've 0:01:45.200 --> 0:01:48.000 seen over the last couple of decades, the metaverse is 0:01:48.040 --> 0:01:50.280 something that's been here for a while. I think we're 0:01:50.280 --> 0:01:52.960 just seeing new use cases of technology and the integration 0:01:53.000 --> 0:01:56.240 with blockchain and how powerful it really can be in 0:01:56.360 --> 0:01:59.880 terms of putting together more collaboration and allowing for those 0:02:00.000 --> 0:02:02.600 coptunities to happen. So when I zoom out five years, 0:02:02.960 --> 0:02:05.760 I think that the metaverse is gonna be very key 0:02:05.880 --> 0:02:07.360 to the way in which that we meet with people, 0:02:07.520 --> 0:02:10.000 the way we collaborate, the way it waits. The world smaller. 0:02:10.040 --> 0:02:12.400 If you've looked at the world, you know, the history 0:02:12.440 --> 0:02:15.040 of the world from the beginning of the time UM, 0:02:15.120 --> 0:02:18.480 the world has continually became a smaller and smaller place UM, 0:02:18.520 --> 0:02:23.000 which has created many pathways to more collaboration UM and 0:02:23.040 --> 0:02:25.720 integrations and things like that. So I think we're gonna 0:02:25.760 --> 0:02:28.320 see meta versus be a lot more interoferable. I think 0:02:28.320 --> 0:02:31.440 that's the next step. UM. You know where you're you know, 0:02:31.720 --> 0:02:35.320 personality and image is helpful in one place, leveraging it 0:02:35.360 --> 0:02:38.480 to another place and just that interoperability aspect um that 0:02:38.600 --> 0:02:41.240 is so easily achieved from blockchain is kind of what 0:02:41.280 --> 0:02:43.239 I can expect us to see in the short to 0:02:43.400 --> 0:02:45.799 medium term. But UM, you know, it's definitely something that's 0:02:45.840 --> 0:02:48.400 here to stay. But quite honestly, I think the misconception 0:02:48.440 --> 0:02:51.200 at the moment is it's something that's new. UM. It's 0:02:51.240 --> 0:02:53.440 definitely been something that's been a pinnacle of the way 0:02:53.480 --> 0:02:56.480 in which that we've you know, grown up with technology 0:02:56.520 --> 0:02:59.360 and you see kids nowadays, I think they will only 0:02:59.400 --> 0:03:02.480 know a world UM that is integrated with a metaverse. 0:03:02.600 --> 0:03:05.359 Right my little brother who is seventeen in high school now, 0:03:05.400 --> 0:03:07.880 like they're very very you know, gen z e ars 0:03:07.919 --> 0:03:10.840 are very into the Internet, They're very into the world. 0:03:10.840 --> 0:03:13.720 They're into their virtual personalities and things like that. Um, 0:03:13.720 --> 0:03:15.200 so I think we're going to continue to see more 0:03:15.200 --> 0:03:17.560 of that in the future. You've done this a couple 0:03:17.600 --> 0:03:20.440 of times in that statement. I don't think people appreciate 0:03:20.480 --> 0:03:23.400 this enough. But you talk about the metaverse in the plural. 0:03:24.120 --> 0:03:26.320 When I hear people talk about the metaverse, they talk 0:03:26.360 --> 0:03:29.519 about the metaverse like there will be one that we're 0:03:29.560 --> 0:03:32.320 all in. Can you describe why you're using it in 0:03:32.400 --> 0:03:38.040 the plural form? Yeah, I mean, I think the main 0:03:38.080 --> 0:03:41.120 thing is there's it's too early to tell where the 0:03:41.400 --> 0:03:43.720 where the victors will be. And I think the ethos 0:03:43.760 --> 0:03:47.440 of blockchain is really not necessarily about what the best 0:03:47.520 --> 0:03:50.240 investment is or what the best technology is. It's really 0:03:50.320 --> 0:03:53.160 about having use cases for different things. Right. So, like 0:03:53.360 --> 0:03:57.680 the technology that underpins many cryptocurrencies, right, um has a 0:03:57.680 --> 0:03:59.800 lot of use cases that make sense for certain things, 0:03:59.840 --> 0:04:02.880 but not necessarily sense for other things. Right. So extrapolating 0:04:02.920 --> 0:04:05.120 that and thinking about the metaverse, right, I think the 0:04:05.160 --> 0:04:09.120 technology that underpins the metaverse will admittedly be different, whether 0:04:09.160 --> 0:04:13.080 it's coming from different ecosystems or in general that use cases. 0:04:13.360 --> 0:04:15.640 I think what we're gonna see is that convergence into 0:04:16.160 --> 0:04:19.440 essentially sure, there will be one metaverse, but the technology 0:04:19.440 --> 0:04:22.160 that inderpends it. I guess that's definitionally how we've thought 0:04:22.200 --> 0:04:25.640 about the metaverse has been attached to the technology, hence 0:04:25.680 --> 0:04:29.040 the plural nature of it. But I think the world 0:04:29.200 --> 0:04:32.799 will only be as successful or as like the best 0:04:32.800 --> 0:04:35.640 place to be will be when there's that collaboration that happens, 0:04:35.680 --> 0:04:38.880 so interoperability something that's really big and Web three right now, um, 0:04:38.920 --> 0:04:41.440 and so you know, personally, from my standpoint, I would 0:04:41.440 --> 0:04:43.920 say that the biggest uh you know thing that we're 0:04:43.920 --> 0:04:46.159 gonna see in the future is really that convergence of 0:04:46.200 --> 0:04:48.719 all these different metaverse and so it doesn't really matter 0:04:49.040 --> 0:04:50.919 you know, where you're spending money and things like that. 0:04:51.000 --> 0:04:53.640 When I would like to analog it to basically think 0:04:53.680 --> 0:04:55.680 of a credit card, right, so, like you go to 0:04:55.720 --> 0:04:58.080 a bank, you buy you know, you get a credit card, 0:04:58.279 --> 0:05:00.400 you have a line of credit. When you leave the country, 0:05:00.440 --> 0:05:03.400 you're still able to use that credit card, and all 0:05:03.480 --> 0:05:05.520 the stuff that you need to worry about is really 0:05:05.560 --> 0:05:07.880 taking care of on the back end, right, Like you 0:05:07.920 --> 0:05:10.039 don't have to think about Oh, well, I'm in Europe, 0:05:10.080 --> 0:05:12.200 so I need euros, so then buy it's wipe my 0:05:12.240 --> 0:05:14.800 credit card. It just happens, right, And I think that's 0:05:14.880 --> 0:05:17.920 kind of the you know, practicality point of it too. 0:05:17.960 --> 0:05:20.479 But then also like when the world becomes that way, 0:05:20.520 --> 0:05:23.360 that's when you see a rapid adoption of the metamors. 0:05:23.360 --> 0:05:25.680 When it's that simple. The best technology that we have 0:05:25.720 --> 0:05:27.359 and I always say this and no you and I 0:05:27.400 --> 0:05:30.200 were talking about it last time, but the best technology 0:05:30.200 --> 0:05:31.960 in the world has created a convenience factor and it's 0:05:32.120 --> 0:05:35.440 easy to use. It's never been something that's been required 0:05:35.480 --> 0:05:39.240 to use a dictionary or encyclopedia to gain knowledge on it. 0:05:39.240 --> 0:05:41.640 It's something that makes sense right all of us, you know, 0:05:41.720 --> 0:05:43.599 a lot of us drive every single day and we 0:05:43.680 --> 0:05:46.640 don't know what actually happens under the hood of our car. 0:05:47.120 --> 0:05:49.560 Um you turn the key and you press up, right, 0:05:49.680 --> 0:05:52.839 Like technology needs to get to that point for mass adoption. 0:05:53.080 --> 0:05:54.440 It doesn't need to be the case that you need 0:05:54.480 --> 0:05:56.480 to be an engineer to drive a car. So why 0:05:56.480 --> 0:05:58.839 do you need to be a cryptographist or some blockchain 0:05:58.920 --> 0:06:01.720 nerd to really be participate in the meta rise. So 0:06:01.760 --> 0:06:03.640 that's kind of what I mean by interoperability, it's for 0:06:03.720 --> 0:06:07.400 a convenience factor if anything. So, are you saying that 0:06:07.440 --> 0:06:10.240 there may be, you know, a metaverse for work in 0:06:10.320 --> 0:06:13.280 another metaverse to hang out with my buddies, like like 0:06:13.400 --> 0:06:15.720 a group chat sort of metaverse like to where we 0:06:15.800 --> 0:06:18.440 just all have access to this one, but there may 0:06:18.440 --> 0:06:20.479 be another one that I hang out with family on. 0:06:20.839 --> 0:06:22.720 Are you are you? Are you saying that it may 0:06:22.760 --> 0:06:26.719 be that sort of situation where there's several different things 0:06:28.279 --> 0:06:31.200 I would say from your from the perspective of us, 0:06:31.320 --> 0:06:33.040 it won't really matter, Like I think there will be 0:06:33.200 --> 0:06:37.479 enough interoperability and integration to the point where everything happened seamlessly. 0:06:37.600 --> 0:06:41.120 So even if in theory you're switching metaverse is like 0:06:41.320 --> 0:06:45.120 your user experience, your journey as a person will be 0:06:45.360 --> 0:06:48.440 remain constant, right Like, So that's kind of what I'm 0:06:48.440 --> 0:06:50.360 getting at, Like, I think that's kind of the future 0:06:50.440 --> 0:06:53.119 of this technology is when it's as simple as plug 0:06:53.160 --> 0:06:55.440 in play. Um, you know, no matter where you are, 0:06:55.680 --> 0:06:57.640 you buy a pair of air pods, it doesn't matter 0:06:57.640 --> 0:07:00.599 if you have this iPhone, that iPhone, that whatever. You 0:07:00.640 --> 0:07:03.839 can use them everywhere, right Like, interoperability is what I'm 0:07:04.000 --> 0:07:06.039 talking about, Yes, I look at so I have little 0:07:06.200 --> 0:07:09.520 kids and I watched them grow up in this world 0:07:09.640 --> 0:07:13.400 where they would rather have And I'm kind of diverging 0:07:13.440 --> 0:07:15.800 from just metaverse but also n f T s and 0:07:15.840 --> 0:07:18.760 things like that. I would I would bet you if 0:07:18.800 --> 0:07:22.880 I handed them a twenty dollar bill and twenty in roebucks, 0:07:23.320 --> 0:07:27.360 they would have a difficult time picking which one is 0:07:27.400 --> 0:07:31.920 more valuable to them. And so what would you say 0:07:31.960 --> 0:07:35.120 about because you just talked about this, We're already familiar 0:07:35.160 --> 0:07:37.160 with the metaverse has been here for some time in 0:07:37.280 --> 0:07:41.200 some other forms, but with the generation that is coming up, 0:07:41.200 --> 0:07:43.520 in the generation now your yours in mind, where we 0:07:43.600 --> 0:07:48.480 are getting adopted to this thing, what does that world 0:07:48.560 --> 0:07:50.880 look like? Are we spending most of our days with 0:07:51.000 --> 0:07:57.559 goggles on? And is that what it looked like? Uh? Yeah, 0:07:57.640 --> 0:08:01.400 I mean I think this is an interesting question just 0:08:01.480 --> 0:08:03.040 because of the fact that it kind of gives you 0:08:03.080 --> 0:08:05.920 Big brother Rob's right, Like you're really wondering about what 0:08:05.960 --> 0:08:08.480 the world really looks like. Are we ever gonna have 0:08:08.680 --> 0:08:10.920 human the human interaction again? And I think, you know, 0:08:11.040 --> 0:08:12.800 just like with anything, I think there are use in 0:08:12.840 --> 0:08:15.880 cer technology that makes sense, um all the time. Just 0:08:15.880 --> 0:08:17.560 because you have a car doesn't mean it's the best 0:08:17.600 --> 0:08:19.680 thing for you to do, like to drive from New 0:08:19.720 --> 0:08:22.480 York to l A. Like you'll probably hop on a plane, right, So, like, 0:08:22.680 --> 0:08:25.640 I think you just take it that way, Um, you know, 0:08:25.720 --> 0:08:27.560 you take it one step at a time and kind 0:08:27.560 --> 0:08:30.440 of see what the use cases developed. And the beautiful 0:08:30.520 --> 0:08:32.600 thing about this space is, at the end of the day, 0:08:32.960 --> 0:08:36.320 the best use cases for the technology haven't been discovered yet, 0:08:36.640 --> 0:08:38.120 right And to like, the way in which that we're 0:08:38.160 --> 0:08:40.480 even thinking about using the metaverse can be very different 0:08:40.520 --> 0:08:43.520 from what actually materializes in the future. And so I 0:08:43.520 --> 0:08:46.080 think right now the most important thing is for people, 0:08:46.360 --> 0:08:48.640 you know, like us, people of color, like they really 0:08:48.640 --> 0:08:51.439 need to embrace these technologies and kind of become early 0:08:51.440 --> 0:08:53.960 adopters of them because they are going to underpin a 0:08:54.000 --> 0:08:55.920 lot of the different things that we do in the future. 0:08:56.320 --> 0:08:58.800 But ultimately, like in terms of what it looks like, 0:08:58.840 --> 0:09:01.360 you know, I think we'll definitely seeing a lot of 0:09:01.440 --> 0:09:04.680 different integrations of it in the workplace and then potentially 0:09:04.720 --> 0:09:07.800 in the social scenes as well. But outside of that, right, 0:09:07.840 --> 0:09:10.160 like when you're thinking about grocery shopping or you're thinking 0:09:10.200 --> 0:09:12.839 about working out, whatever it may be, you know, it 0:09:13.360 --> 0:09:15.240 might be something that would be interesting in terms of 0:09:15.240 --> 0:09:18.280 like what those use cases develop over time. But I'd 0:09:18.360 --> 0:09:20.840 be pretty confident to say that, you know, in the 0:09:20.880 --> 0:09:23.440 next three to five years, you know, we'll be spending 0:09:23.440 --> 0:09:26.079 a lot more time in the metaverse as a general population, 0:09:26.120 --> 0:09:28.600 with the heavy users probably aping into it a lot 0:09:28.640 --> 0:09:30.760 more than others. But now is the time to just 0:09:30.760 --> 0:09:33.480 become aware and really learn about what these technologies could 0:09:33.480 --> 0:09:36.520 be useful for. I'm glad you mentioned that because I wonder, 0:09:37.360 --> 0:09:40.360 particularly around n f T s, are we asking the 0:09:40.480 --> 0:09:43.760 right questions about what they can mean for creators? Because 0:09:43.800 --> 0:09:46.439 I was I was watching, um, you've probably seen this. 0:09:46.520 --> 0:09:49.199 Tiler the creator had you know, a rant about n 0:09:49.280 --> 0:09:52.640 f T s that last week, and he was talking about, 0:09:52.679 --> 0:09:54.199 you know, what is an n f T like when 0:09:54.240 --> 0:09:57.360 he's really outside he's got friends who are building speakers 0:09:57.360 --> 0:09:59.520 by hand, and he's traveling all over the world and 0:09:59.600 --> 0:10:04.719 little little cars, and he's really experiencing life in analog right, 0:10:05.000 --> 0:10:07.520 and his questions like, what isn't n f T when 0:10:07.960 --> 0:10:11.080 we're doing these things for real? And so what my 0:10:11.200 --> 0:10:15.520 question is like, are we asking the right questions about today? 0:10:15.600 --> 0:10:18.600 Are we asking the right questions about the value of 0:10:18.800 --> 0:10:25.920 a digital asset. Yeah, I think the most important thing 0:10:25.920 --> 0:10:29.360 when you think about digital assets is that the idea 0:10:29.400 --> 0:10:32.480 of value in general, like take a step back, have 0:10:32.640 --> 0:10:35.679 to do with what we assigned to it as people. Right, 0:10:35.760 --> 0:10:38.000 Like at the end of the day, like the dollar 0:10:38.160 --> 0:10:40.400 is just paper. It's just like it used to be 0:10:40.440 --> 0:10:44.480 backed by gold, it used to actually be representative, representative 0:10:44.520 --> 0:10:47.000 of something else, but at the moment it's just paper. 0:10:47.040 --> 0:10:49.360 We assigned value to it. And so when you think 0:10:49.360 --> 0:10:52.559 about what we assigned value on generally as a side 0:10:52.720 --> 0:10:55.480 society is over the last two decades, like I've been 0:10:55.520 --> 0:10:58.160 pointing to before, is we've assigned more value to what 0:10:58.200 --> 0:11:00.679 we've seen behind our screens and in the virtual world 0:11:00.840 --> 0:11:04.760 than we had you know, the previous years before, right, 0:11:04.800 --> 0:11:06.200 And so when you think about n f T s, 0:11:06.200 --> 0:11:08.720 I think they fall in that same bucket where you know, 0:11:08.800 --> 0:11:11.280 I think in one vein yes, like I think digital 0:11:11.280 --> 0:11:13.040 assets are going to have a value just because of 0:11:13.080 --> 0:11:15.680 the fact that they're you know, digital assets. But I 0:11:15.720 --> 0:11:18.600 think the utility argument is going to be what becomes 0:11:18.720 --> 0:11:21.840 very key and helps, I guess, allows people to really 0:11:21.920 --> 0:11:25.800 understand even though it's not a situation or a concept 0:11:25.880 --> 0:11:29.280 that we're that's you know, all that new or unfamiliar right, 0:11:29.320 --> 0:11:31.480 Like like I was saying before dollars or what we 0:11:31.520 --> 0:11:34.040 assign them, and we seem to accept that and accept 0:11:34.080 --> 0:11:36.280 that as commonplace. There will be a time where n 0:11:36.320 --> 0:11:38.000 f T has become that as well. But you know, 0:11:38.120 --> 0:11:42.520 in this sort of pivotal transitional inflection point of time, UM, 0:11:42.559 --> 0:11:44.120 I think what's gonna happen is you're gonna see the 0:11:44.200 --> 0:11:46.559 utility argument grill where you're gonna see that use of 0:11:46.600 --> 0:11:48.760 the n T as an actual good or something that's 0:11:48.760 --> 0:11:51.000 helpful in your life and that will allow you to 0:11:51.080 --> 0:11:54.840 bring some sort of tangible value to you. Um. I 0:11:54.880 --> 0:11:58.320 think that in conjunction with us understanding about how we 0:11:58.400 --> 0:12:01.360 really assigned value to things as a society is like 0:12:01.400 --> 0:12:03.800 super important. Um And so like I think what the 0:12:03.840 --> 0:12:06.160 most important thing is like as a as a creator, 0:12:06.520 --> 0:12:08.640 you understanding all the I P that you sit on 0:12:08.720 --> 0:12:10.800 in all of these different things. This is the most 0:12:10.800 --> 0:12:14.920 efficient way for you to monetize your intellectual property on 0:12:15.000 --> 0:12:20.160 a perpetual basis. That is super important. And collectiles the creator, 0:12:20.559 --> 0:12:23.440 they have such a big following, they're already you know, 0:12:23.679 --> 0:12:25.880 have such a status about them that they're probably able 0:12:25.880 --> 0:12:28.040 to do all right for them though, But the real 0:12:28.160 --> 0:12:31.360 kicker is when you have mid creator, middle labs, people 0:12:31.400 --> 0:12:33.559 that are you know, looking. I don't know if people 0:12:33.640 --> 0:12:36.480 do research these days, but the amount of people that 0:12:36.559 --> 0:12:39.360 make their primary means of income off of the Internet 0:12:39.640 --> 0:12:42.440 has skyrocketed over the last five to ten years. So 0:12:42.600 --> 0:12:45.640 for those people that aren't rich, like those people that 0:12:45.920 --> 0:12:47.600 you know have been able to create a life for 0:12:47.640 --> 0:12:50.760 themselves on the internet their influencers, but they may have 0:12:50.880 --> 0:12:54.040 trouble paying their bills. Like that's why this technology is 0:12:54.040 --> 0:12:57.840 super important for them, right. It recreates and it basically 0:12:57.880 --> 0:13:02.400 makes the situation way more equitable for those people where 0:13:02.400 --> 0:13:06.440 it's actually counts. You know, you mentioned that you know 0:13:06.520 --> 0:13:08.920 when things become easy to use, and you don't have 0:13:08.960 --> 0:13:11.480 to be a computer scientist to understand that. That's when things, 0:13:11.480 --> 0:13:14.280 you know, get that mainstream adoption, et cetera. And I 0:13:14.400 --> 0:13:18.360 wonder if p FPS these profile pictures sorts of n 0:13:18.440 --> 0:13:21.560 f T s are just an easy way for us 0:13:21.600 --> 0:13:24.720 to understand what it can do. Because you mentioned utility, 0:13:24.840 --> 0:13:27.920 so I wonder, like, is is the p FP the 0:13:28.000 --> 0:13:31.760 board ape, the crypto, the crypto punk, the you know, 0:13:31.840 --> 0:13:34.720 pick a pick one a noun or whatever. Are they 0:13:34.880 --> 0:13:39.040 just like one oh one levels of what an n 0:13:39.080 --> 0:13:43.679 f T really can mean for us. Absolutely, those are 0:13:43.800 --> 0:13:46.440 the entry points. And I think when people ask you 0:13:46.480 --> 0:13:48.040 about what an n f T is, right, Like, I 0:13:48.040 --> 0:13:50.680 think people will get very confused right there, like what 0:13:50.840 --> 0:13:52.439 is an m T? And then I think you step 0:13:52.480 --> 0:13:54.559 back and you explain what the difference and you fungible 0:13:54.559 --> 0:13:56.840 in a non fungible asset. And then you take a 0:13:56.880 --> 0:13:59.520 step forward and you're like, Okay, why do I care 0:13:59.559 --> 0:14:01.760 about this digital image that I could easily take a 0:14:01.800 --> 0:14:04.640 screenshot of? Right? And the fact of the matter is 0:14:04.679 --> 0:14:07.240 it's really the idea of ownership and be able to 0:14:07.280 --> 0:14:10.600 prove it. Bragging rights. That's humanity, right, Like we all 0:14:10.720 --> 0:14:13.800 love to brag about all the stuff that we do 0:14:14.040 --> 0:14:17.160 own and everything that we're associated with. That's just human nature. 0:14:17.360 --> 0:14:21.040 And so profile picture verification basically the idea of having 0:14:21.480 --> 0:14:23.640 you know, verified n f T s as your profile 0:14:23.680 --> 0:14:26.920 picture is a sense status, right, That's what people really 0:14:26.920 --> 0:14:29.320 care about. And so like, if you can go and 0:14:29.360 --> 0:14:31.040 make it your profile picture, two, can you took a 0:14:31.160 --> 0:14:33.720 screenshot of it? That's very different than the person that 0:14:33.760 --> 0:14:36.480 if you click their in tells all the meta day 0:14:36.520 --> 0:14:39.720 about this actual mpy that you own. Right, that's like 0:14:39.760 --> 0:14:42.320 the equivalent of basically going to a museum, finding the 0:14:42.400 --> 0:14:44.760 Mona Lisa and taking a picture of it. Great, you 0:14:44.800 --> 0:14:47.160 have a picture of the Mona Lisa. So does everybody else. 0:14:47.240 --> 0:14:50.400 But that person that can actually say they verifiably own 0:14:50.520 --> 0:14:52.680 this sort of asset is going to be able to 0:14:52.680 --> 0:14:54.920 say something that you could never say. Right. So, I 0:14:54.960 --> 0:14:58.400 think seeing more avenues like that pop up, we'll add 0:14:58.440 --> 0:15:01.400 that utility argument, which kind of makes the NFP something 0:15:01.440 --> 0:15:03.880 that's useful. Now it's a bragging right now, it's an item. 0:15:04.120 --> 0:15:07.120 And then also when you think about those projects, their clubs, 0:15:07.120 --> 0:15:10.240 so their access, right it allows you to have access 0:15:10.240 --> 0:15:12.360 to certain things and be able to say certain things 0:15:12.400 --> 0:15:15.920 that other people fundamentally can people are there are people 0:15:15.920 --> 0:15:18.800 out there that are belonging to country clubs that never 0:15:18.840 --> 0:15:21.720 frequent or visit them, but just want to be able 0:15:21.760 --> 0:15:23.880 to say I'm a part of this club, right. So 0:15:23.960 --> 0:15:25.960 this is all human nature, and so I think when 0:15:26.000 --> 0:15:28.400 people are trying to make sense of this, try to 0:15:28.440 --> 0:15:31.680 create analogs to the normal life that you will understand, 0:15:32.120 --> 0:15:35.520 to try and understand for something that it's completely not 0:15:35.640 --> 0:15:37.640 like or something that's different, right, And so I think 0:15:37.640 --> 0:15:39.320 those are a few things that you really think about it, 0:15:39.360 --> 0:15:41.040 and then you think about, you know, the idea of 0:15:41.120 --> 0:15:44.280 that access being pinned too, like an event or something 0:15:44.320 --> 0:15:47.400 like a physical item or an experience that you can 0:15:47.400 --> 0:15:49.240 really get, and then you really see the true power 0:15:49.240 --> 0:15:52.040 of entities UM a bunch, you know, and then five 0:15:52.120 --> 0:15:54.320 years down the line, I might rewatch this, might rewatch 0:15:54.360 --> 0:15:56.280 this and be like wow. So I really only talked 0:15:56.280 --> 0:15:59.360 about you know, five of this actually ended up being 0:15:59.360 --> 0:16:03.120 worth you know that I'm interested in your take on 0:16:03.280 --> 0:16:07.680 this UM idea because and it's particularly around the investment 0:16:07.760 --> 0:16:11.840 thesis around you know, crypto Punk's board ape and et cetera. 0:16:12.240 --> 0:16:14.560 Because I was thinking about n f T s and 0:16:14.640 --> 0:16:16.400 you know, you can anybody can go to Open Sea, 0:16:16.440 --> 0:16:18.920 which we talk a lot about on this show, and 0:16:19.200 --> 0:16:21.520 you know, find something they may want to buy, something 0:16:21.560 --> 0:16:24.800 they want to invest in. And for the longest time, 0:16:24.960 --> 0:16:28.080 I would not buy an n f T if it 0:16:28.280 --> 0:16:30.880 was not stored in like I p f S or 0:16:31.360 --> 0:16:34.720 you know off you know, outside of somebody's you know, 0:16:34.960 --> 0:16:37.880 a w S server or whatever wherever they're serving it. 0:16:37.880 --> 0:16:40.200 Because I was you know, cautious around the idea of 0:16:40.240 --> 0:16:42.080 a rock plot. This thing could go away. You know, 0:16:42.160 --> 0:16:45.440 it wasn't decentralized. It was stored on somebody's central you 0:16:45.480 --> 0:16:50.000 know thing. And I wonder, I had to rethink that 0:16:50.120 --> 0:16:53.320 because I'm thinking, why does it have to last forever? 0:16:53.400 --> 0:16:55.480 Why does it have to be you know, immutable? Why 0:16:55.480 --> 0:16:59.360 does it have to If I may not care about 0:16:59.360 --> 0:17:01.400 this thing five just now, I may want to sell it, 0:17:01.480 --> 0:17:03.680 like does it have to be on I p f S? 0:17:03.760 --> 0:17:06.359 Does it have to be on the Interplanetary file System? 0:17:06.400 --> 0:17:08.600 And I wonder what your thought is when you might 0:17:08.640 --> 0:17:10.560 be buying a n f T. Do you care much 0:17:10.600 --> 0:17:19.600 about where it's stored? I have personally care where it's stored. Um, 0:17:19.720 --> 0:17:21.680 but I'm pretty deep in this space. But I think 0:17:22.280 --> 0:17:24.600 in the rise of security, and I think, you know, 0:17:24.800 --> 0:17:27.040 I think it's interesting because I think for me, as 0:17:27.080 --> 0:17:30.280 a blockchain enthusiast, somebody that's very deep in this space, 0:17:30.359 --> 0:17:33.920 the idea of decentralization really resonates to me also being 0:17:33.960 --> 0:17:36.920 somebody from West Africa and like having a different point 0:17:36.960 --> 0:17:40.560 of view when thinking about decentralization. It's super important, right, 0:17:40.600 --> 0:17:42.520 So like when you take a step back, why would 0:17:42.520 --> 0:17:45.240 somebody like centralization because it probably does make sense in 0:17:45.240 --> 0:17:47.679 a lot of situations, right, And if you live in 0:17:47.680 --> 0:17:51.000 the developed world, like a lot of people do, especially 0:17:51.040 --> 0:17:53.199 those that are purchasing n fp s, we live in 0:17:53.240 --> 0:17:56.000 its society that's based off the endorsement model, right, Like 0:17:56.240 --> 0:17:59.119 you go to the bank, You're happy you're banking with Shape. 0:17:59.160 --> 0:18:01.560 You're happy you're banking with Bank of America because that 0:18:01.720 --> 0:18:05.720 is a standard and a symbol of transparency and a 0:18:05.800 --> 0:18:08.480 symbol of, like, you know, a certain level of service 0:18:08.520 --> 0:18:11.359 that you can expect to have from these parties. You 0:18:11.440 --> 0:18:13.800 go to West Africa, you go to undevelop the parts 0:18:13.800 --> 0:18:16.679 of the world, you don't have that same luxury. So like, 0:18:16.760 --> 0:18:19.240 already in my mind, the way in which I think 0:18:19.240 --> 0:18:22.000 about a bank is very different than somebody that grew 0:18:22.040 --> 0:18:24.160 up in the developed world, right, And so I think 0:18:24.240 --> 0:18:27.200 what we're seeing and obviously you see now Latin American country, 0:18:27.240 --> 0:18:29.440 you see countries in Africa, Nigeria is a very large 0:18:29.440 --> 0:18:32.679 trade of crypto. You have people that are embracing this 0:18:32.760 --> 0:18:35.159 idea of decentralization because you don't have to trust the 0:18:35.200 --> 0:18:37.760 other side of it, right, And so like for me personally, 0:18:38.040 --> 0:18:40.560 that resonates with me. But I think in terms of 0:18:40.880 --> 0:18:44.200 you know, every single user there might be centralized solutions 0:18:44.320 --> 0:18:47.000 or you know, even taking a more step back, the 0:18:47.040 --> 0:18:51.360 idea is centralization and decentralizations and spectrum right, like, you're 0:18:51.359 --> 0:18:54.720 not entirely decentralized, you're not entirely centralized, or you don't 0:18:54.720 --> 0:18:57.080 have to be right, and so in my mind, I 0:18:57.119 --> 0:18:59.720 think everybody kind of lives on that spectrum where they're at. 0:19:00.040 --> 0:19:03.080 For me, it's probably more supposed to decentralization perspective, just 0:19:03.119 --> 0:19:05.360 because I know that the merits of the technology are 0:19:05.440 --> 0:19:09.520 and the tough of my personal I would say for everyone, 0:19:09.560 --> 0:19:11.760 I think you kind of move at your own risk, 0:19:11.840 --> 0:19:14.200 and you could take this, you know, a different level too. 0:19:14.240 --> 0:19:16.719 When you're buying crypto, right, you can buy a crypto 0:19:16.880 --> 0:19:21.159 a decentralized exchange all day or exchange like fp X 0:19:21.240 --> 0:19:24.600 and coin base, Right, I think most people average people 0:19:24.760 --> 0:19:27.560 going to the central exchanges because there's a certain level 0:19:27.640 --> 0:19:30.920 of vetting that happens before you actually buy the asset. 0:19:31.720 --> 0:19:33.920 But I think also just really depends on who you 0:19:33.960 --> 0:19:37.439 are as a person. Out of what I was I 0:19:37.480 --> 0:19:39.679 was reading something you were talking about the idea of 0:19:39.720 --> 0:19:41.760