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HOT TOPIC So wtf are NFTs all about? Buying JPGs? Why can't you just right-click save? Is this a giant ponzi? Far from it...

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AceVentures

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I agree that the U.S. Dollar is inflating away and that is why we see these crazy numbers in everything. However, I think we are ripe for a massive crash and crypto is not where you want your money. There is value in it but now is not the time to hold it - there's a massive dump coming.

I personally see value in Gold. Physical Bullion, ideally kept in a vault outside of your jurisdiction such as Switzerland. I am keeping the majority of my portfolio in Gold in this way. Silver also has value, but prices are high. I plan to put 7 figures into a physical type of SLV ETF when the NASDAQ crashes and institutional investors are dumping paper silver. I think there is a big opportunity there.

There is also value in what you say and in diversification. Perhaps it merits a portion within a diversified portfolio.

Regardless, some of us with more conviction and appetite for risk may want to engage with the markets slightly differently.

That approach also merits open discussion, as I personally advocate for.

In either case, I respect that people have differing opinions and approaches to this - what I would recommend is we steer away from characterizing an entire technology as a ponzi, because I believe it is simply a lazy use of vocabulary we're employing to describe an emergent force we don't quite understand yet.
 

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AceVentures

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Back in here with another banger today! This one does an excellent job of breaking down the value-chain, comparing web2 to web3, and using plenty of examples/mental models to drive the point.

Tagging @Andy Black here: as per your previous post on the topic of Web3, I think you will enjoy reading this.

Will frankenstein and highlight the bangers for you guys, but please dig in as there is so so much to talk about in this article:

----------------------------------------------------------------------------------------------------

The vocabulary around Web3, like that of many early movements, is very idealistic. It’s all about using technology to create trustless systems, wrest power from corporations, and give it back to the people. I think that vocabulary is why I haven’t taken it seriously as a real alternative to the status quo.

But I have gone deep down the rabbit hole, and I think I get it now. I can see how the decentralized web might make the leap from passionate early adopters to the mainstream, that there are real economic advantages to a decentralized internet, and that Web3 architectures will play a crucial role in a robust Metaverse.


What has been missing for me is a clear use case, like NFTs, and an understanding of the business models and value chains underlying a lot of these concepts. Yes, there’s idealism, but there’s also a sense of building a new economy in which the value accrues to the people who create the value. That’s capitalism, baby.

Today, I’m going to do my best to unpack it. Web3 and the Metaverse are two separate ideas that may or may not intersect. I think the future is much more exciting if they do. To understand why, we’ll start by understanding Web3, dive into NFTs, then move onto the Metaverse, and then look at what could happen when these ideas converge.

  • What is Web3 and Why is it Important?
  • Non-Fungible Tokens and Digital Ownership.
  • NFTs in the Wild.
  • The Size of the Metaverse Prize.
  • The Open Versus Closed Metaverse.
  • Crucible and The Direct-to Avatar Economy.
  • The Value Chain of the Open Metaverse.
[...]

1632348365465.png

Web3, then, isn’t as much an idealistic repudiation of Web 2.0 (although that’s a good marketing tool) as much as it is a natural evolution of the market made possible by new technology.

“Cryptonetworks combine the best features of the first two internet eras: community-governed, decentralized networks with capabilities that will eventually exceed those of the most advanced centralized services.


At the heart of Web3 is the idea of consensus protocols and standards with money baked in. I think about it like a series of open source APIs that anyone can use to build according to an agreed upon set of rules, that gain financial value over time which is shared with everyone who contributes to the API.

Instead of building siloed products, Web3 is built for interoperability. This is a key concept, keep it in mind. Decentralized Finance (“DeFi”), which, as the name implies, is attempting to build a new financial system without central financial institutions, is one of the most promising layers being built on Web3. A common analogy for the way DeFi products are built is with “money legos.”



[...]

I’ve always viewed the Web3 movement as anti-capitalist. That couldn’t be further from the truth. The movement is really about doing one of the most capitalist things there is: cutting out the middleman. It means that instead of value accruing to the Aggregators, there can be a more direct connection between suppliers and consumers.

1632348512138.png

It’s not about taking money out of the system, it’s about moving the money around to the people who create and the people who consume, and to the people who maintain and improve the network itself. And it’s about attaching each user’s data and money directly to them (Self-Sovereign Identity), creating a public record that they own what they own (blockchain), and letting them take it with them, and profit from it, wherever they go on the web (Interoperability).

[...]

Proponents of the Metaverse predict that it will be a multi-trillion-dollar digital economy that replaces the internet with shared virtual worlds. If the internet is 2D and siloed, the Metaverse is 3D and interoperable, like if video games and the physical world had a baby.

In some ways, the seeds of the Metaverse are already here. We meet on Zoom, work in Teamflow, talk on Clubhouse, tweet on Twitter, shop on Amazon, and game in Fortnite. Today, though, all of these pieces are disconnected, like walking around a city and changing outfits and ID every time you enter a new building. Web3 and NFTs might hold the keys to stitching together the back-end of the Metaverse by building connective tissue and interoperability into the system.

[...]

A closed Metaverse is controlled by one or more large companies and lacks interoperability between platforms. Think of it like a 3D Web 2.0 with some new protocols. This is what happens if Facebook wins with Oculus and other Facebook Reality Labs projects, for example. If that happens, expect more of what happens today, on an unimaginable scale.

Sweeney and many others hope it never comes to that. They’re advocates for an Open Metaverse. The Open Metaverse is one built from the connection and interoperability of a series of different platforms, worlds, sites, stores, experiences and more. It’s a Web3 version of the Metaverse, in which players could travel from Fortnite to Roblox to Oculus, bringing all of their data, skins, NFTs, and digital currency with them seamlessly.

[...]

Metaverse will occur when there's an event that takes place simultaneously across multiple AAA platforms, where players can walk from one to the other as the same avatar, wearing the same skin.

Already, smaller developers are making this possible. Last week, Cryptovoxels, Somnium Space, and Decentraland announced that they’re working to let users portal between worlds.

[...]

The Value Chain of the Open Metaverse


Looking at [...] one example - Direct-to-Avatar, built on Web3 tech - gives a glimpse at how radically the value chain might change in an Open Metaverse.

So knowing that, what happens to the DTC value chain in a world of Direct-to-Avatar? I think it looks something like this:

1632347988073.png

By dematerializing the supply chain and selling directly to the end user, as represented by the Avatar, the D2A value chain removes entire steps - manufacturing, logistics, and support - and integrates R&D, Retail, and Marketing:
  • R&D becomes production, as renderings and previsualizations, potentially using materials and prices from DIGITALAX’s DOF Sheet, merge with the final product.
  • Retail. In the place of Shopify stores, designers might host their own fashion shows or auctions in virtual worlds built with the Unreal Engine.
  • Marketing. Limited edition drops, the word of which spreads through Discord servers, might replace marketing through traditional digital channels like Facebook and Google.
In this value chain, the profits don’t accrue to the aggregators, like they do in DTC. There’s no “40% of all VC money goes to Google and Facebook here” if it works. The creators will earn the profits[...]
 

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Andy Black

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Back in here with another banger today! This one does an excellent job of breaking down the value-chain, comparing web2 to web3, and using plenty of examples/mental models to drive the point.

Tagging @Andy Black here: as per your previous post on the topic of Web3, I think you will enjoy reading this.

Will frankenstein and highlight the bangers for you guys, but please dig in as there is so so much to talk about in this article:

----------------------------------------------------------------------------------------------------

The vocabulary around Web3, like that of many early movements, is very idealistic. It’s all about using technology to create trustless systems, wrest power from corporations, and give it back to the people. I think that vocabulary is why I haven’t taken it seriously as a real alternative to the status quo.

But I have gone deep down the rabbit hole, and I think I get it now. I can see how the decentralized web might make the leap from passionate early adopters to the mainstream, that there are real economic advantages to a decentralized internet, and that Web3 architectures will play a crucial role in a robust Metaverse.


What has been missing for me is a clear use case, like NFTs, and an understanding of the business models and value chains underlying a lot of these concepts. Yes, there’s idealism, but there’s also a sense of building a new economy in which the value accrues to the people who create the value. That’s capitalism, baby.

Today, I’m going to do my best to unpack it. Web3 and the Metaverse are two separate ideas that may or may not intersect. I think the future is much more exciting if they do. To understand why, we’ll start by understanding Web3, dive into NFTs, then move onto the Metaverse, and then look at what could happen when these ideas converge.

  • What is Web3 and Why is it Important?
  • Non-Fungible Tokens and Digital Ownership.
  • NFTs in the Wild.
  • The Size of the Metaverse Prize.
  • The Open Versus Closed Metaverse.
  • Crucible and The Direct-to Avatar Economy.
  • The Value Chain of the Open Metaverse.
[...]

View attachment 40045

Web3, then, isn’t as much an idealistic repudiation of Web 2.0 (although that’s a good marketing tool) as much as it is a natural evolution of the market made possible by new technology.

“Cryptonetworks combine the best features of the first two internet eras: community-governed, decentralized networks with capabilities that will eventually exceed those of the most advanced centralized services.


At the heart of Web3 is the idea of consensus protocols and standards with money baked in. I think about it like a series of open source APIs that anyone can use to build according to an agreed upon set of rules, that gain financial value over time which is shared with everyone who contributes to the API.

Instead of building siloed products, Web3 is built for interoperability. This is a key concept, keep it in mind. Decentralized Finance (“DeFi”), which, as the name implies, is attempting to build a new financial system without central financial institutions, is one of the most promising layers being built on Web3. A common analogy for the way DeFi products are built is with “money legos.”



[...]

I’ve always viewed the Web3 movement as anti-capitalist. That couldn’t be further from the truth. The movement is really about doing one of the most capitalist things there is: cutting out the middleman. It means that instead of value accruing to the Aggregators, there can be a more direct connection between suppliers and consumers.

View attachment 40046

It’s not about taking money out of the system, it’s about moving the money around to the people who create and the people who consume, and to the people who maintain and improve the network itself. And it’s about attaching each user’s data and money directly to them (Self-Sovereign Identity), creating a public record that they own what they own (blockchain), and letting them take it with them, and profit from it, wherever they go on the web (Interoperability).

[...]

Proponents of the Metaverse predict that it will be a multi-trillion-dollar digital economy that replaces the internet with shared virtual worlds. If the internet is 2D and siloed, the Metaverse is 3D and interoperable, like if video games and the physical world had a baby.

In some ways, the seeds of the Metaverse are already here. We meet on Zoom, work in Teamflow, talk on Clubhouse, tweet on Twitter, shop on Amazon, and game in Fortnite. Today, though, all of these pieces are disconnected, like walking around a city and changing outfits and ID every time you enter a new building. Web3 and NFTs might hold the keys to stitching together the back-end of the Metaverse by building connective tissue and interoperability into the system.

[...]

A closed Metaverse is controlled by one or more large companies and lacks interoperability between platforms. Think of it like a 3D Web 2.0 with some new protocols. This is what happens if Facebook wins with Oculus and other Facebook Reality Labs projects, for example. If that happens, expect more of what happens today, on an unimaginable scale.

Sweeney and many others hope it never comes to that. They’re advocates for an Open Metaverse. The Open Metaverse is one built from the connection and interoperability of a series of different platforms, worlds, sites, stores, experiences and more. It’s a Web3 version of the Metaverse, in which players could travel from Fortnite to Roblox to Oculus, bringing all of their data, skins, NFTs, and digital currency with them seamlessly.

[...]

Metaverse will occur when there's an event that takes place simultaneously across multiple AAA platforms, where players can walk from one to the other as the same avatar, wearing the same skin.

Already, smaller developers are making this possible. Last week, Cryptovoxels, Somnium Space, and Decentraland announced that they’re working to let users portal between worlds.

[...]

The Value Chain of the Open Metaverse


Looking at [...] one example - Direct-to-Avatar, built on Web3 tech - gives a glimpse at how radically the value chain might change in an Open Metaverse.

So knowing that, what happens to the DTC value chain in a world of Direct-to-Avatar? I think it looks something like this:

View attachment 40043

By dematerializing the supply chain and selling directly to the end user, as represented by the Avatar, the D2A value chain removes entire steps - manufacturing, logistics, and support - and integrates R&D, Retail, and Marketing:
  • R&D becomes production, as renderings and previsualizations, potentially using materials and prices from DIGITALAX’s DOF Sheet, merge with the final product.
  • Retail. In the place of Shopify stores, designers might host their own fashion shows or auctions in virtual worlds built with the Unreal Engine.
  • Marketing. Limited edition drops, the word of which spreads through Discord servers, might replace marketing through traditional digital channels like Facebook and Google.
In this value chain, the profits don’t accrue to the aggregators, like they do in DTC. There’s no “40% of all VC money goes to Google and Facebook here” if it works. The creators will earn the profits[...]

Thanks for this share @AceVentures!

Middlemen disappearing?

Creators earning more profits?

40% VC money no longer going to Google and Facebook as startups try to get traction?

Word of mouth spreading through Discord servers instead of "traditional" digital channels like Facebook and Google? (I love that they're traditional now, and maybe in danger of being replaced. Hmmm... I'd better reposition myself!)

Attaching each users identity and money directly to them? (Kinda like a SSO for the whole web, and everything really?)

Blimey.

The coming changes are so mind-bendingly big that I can't even imagine what my kids world will look like. They love watching creators on YouTube. They play Fortnite, Roblox, Minecraft, etc. When they grow up they want to be YouTubers, which I think most kids want to be now-a-days!
 

RoadTrip

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@AceVentures I have been reading about NFT's and blockchain the past week and looked into some of the projects you think are promising: StarAtlas and MekaVerse.

They indeed seem to be promising. I can see StarAtlas take off but I also have a lot of doubt regarding their planning. I've worked in corporate IT for almost a decade and I know how complicated software can be. I have no experience with games but even games are delayed more often than not. And this is about building games on a new technology platform.

However, buying one of the smaller ships isn't that expensive. And getting some POLIS neither. I was wondering about your opinion about ships and POLIS. Do you think this can become a potential goldmine?
 

Nikolaos

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Here is the script:

1) Garyvee (or any other public figure) creates NFT album
2) They attach royalty fee of 10-20-30%
3) They give out those NFTs for free (not truly free, as you pay ridiculous amount of gas fee)
4) They promote online how great NFTs are and indirectly promote their own album
5) For every transaction they earn money, marketplace host earns money, while schmucks try to trade their way into the fortune.

If you don't know who's the schmuck, you are the schmuck. House always wins.
gas fees are not controlled by Garyvee, but from the ETH network. Sometimes gas fees are high, sometimes are not. There's a new version of the ETH network which it is supposed to help lowering the gas fees, but this might really start working within 2022. (i hope i helped, i am not an expert)
 

Nikolaos

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@AceVentures firstly thank you for your huge contribution with this thread regarding NFTs.

I haven't been in-depth in NFTs, and i am not super experienced in crypto, but i trade in BINANCE and in some altcoins with my METAMASK wallet.

So i thought that with some creativity i can create an NFT and to see what's going to happen.

HOWEVER, if i am not mistaken, there's not clear explanation from the platforms, on how much are the fees for creating an NFT and/or retaining it in the platform until you sell it to others. As we hear for artists, or just simple guys that create NFTs and earn huge amounts, but i have read articles on how cautious you should be when you create an NFT regarding the problem i just referred.

So what's your opinion on all this?

Thx in advance!
 

AceVentures

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@AceVentures firstly thank you for your huge contribution with this thread regarding NFTs.

I haven't been in-depth in NFTs, and i am not super experienced in crypto, but i trade in BINANCE and in some altcoins with my METAMASK wallet.

So i thought that with some creativity i can create an NFT and to see what's going to happen.

HOWEVER, if i am not mistaken, there's not clear explanation from the platforms, on how much are the fees for creating an NFT and/or retaining it in the platform until you sell it to others. As we hear for artists, or just simple guys that create NFTs and earn huge amounts, but i have read articles on how cautious you should be when you create an NFT regarding the problem i just referred.

So what's your opinion on all this?

Thx in advance!

Anytime!

Royalties depend - and are fully customizable.

If you create your own smart-contract, you can set the royalty to whatever you want. But then you're also responsible for marketing/selling the smart-contract thru your own webApp or whatever way you choose to interact with your client.

If you create your NFT via minting on an NFT platform, you'll subscribe to the royalties they set for themselves, plus other adjustable royalties you can assign yourself. Base royalty on Opensea rn is 2.5%, so that's the amount that goes to OS. Imo this is extortion. They are simply taking advantage of the fact that alternate marketplaces have not yet emerged. But as marketplaces grow, the overlaying "store-front" which is Opensea rn should see diminishing royalties due to growing competition.

Nonetheless, OS right now is a huge consumer of gas (clear indicator of demand for the products on this dapp) and lots of the NFT activity takes place there rn, so as a creator, it might well be worth spitting out 2.5% in order to tap into the customer base.
 

AceVentures

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@AceVentures I have been reading about NFT's and blockchain the past week and looked into some of the projects you think are promising: StarAtlas and MekaVerse.

They indeed seem to be promising. I can see StarAtlas take off but I also have a lot of doubt regarding their planning. I've worked in corporate IT for almost a decade and I know how complicated software can be. I have no experience with games but even games are delayed more often than not. And this is about building games on a new technology platform.

However, buying one of the smaller ships isn't that expensive. And getting some POLIS neither. I was wondering about your opinion about ships and POLIS. Do you think this can become a potential goldmine?

Purchases like this are akin to buying a lottery ticket and hoping for the best.

Not the best strategy for capturing upside in this space imo. My mentioning those projects was to illustrate examples of how the technology is being used - but not necessarily to encourage you to invest.

I've described this in more detail so please study up a bit for more perspective: I believe in order to capture upside potential in the NFT space today, a solid bet is in investing in the underlying standards and blockchains on top of which most of these tx's are settled.

The business framework is selling blockspace for passive income. So which smart-contracts and which transactions occur most frequently, and where is growing demand for blockspace coming from? Answering these questions can position you to become a salesman of blockspace, or backend computing + storing.

That approach imo is a lot more fruitful in the long term. How people use the smart-contracts is infinite. Star Atlas is one of many other future games. There is no limit to the imagination, but once a network of standards/tools for interoperability are built, there is more stability in the underlying web of connectivity. Holding a share of that web of computing is more likely to stand the test of time vs games/images/projects of which there can and always will be infinite variations, as variable as the human imagination.
 

c4n

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Back in here with another banger today! This one does an excellent job of breaking down the value-chain, comparing web2 to web3, and using plenty of examples/mental models to drive the point.

Tagging @Andy Black here: as per your previous post on the topic of Web3, I think you will enjoy reading this.

Will frankenstein and highlight the bangers for you guys, but please dig in as there is so so much to talk about in this article:

----------------------------------------------------------------------------------------------------

The vocabulary around Web3, like that of many early movements, is very idealistic. It’s all about using technology to create trustless systems, wrest power from corporations, and give it back to the people. I think that vocabulary is why I haven’t taken it seriously as a real alternative to the status quo.

But I have gone deep down the rabbit hole, and I think I get it now. I can see how the decentralized web might make the leap from passionate early adopters to the mainstream, that there are real economic advantages to a decentralized internet, and that Web3 architectures will play a crucial role in a robust Metaverse.


What has been missing for me is a clear use case, like NFTs, and an understanding of the business models and value chains underlying a lot of these concepts. Yes, there’s idealism, but there’s also a sense of building a new economy in which the value accrues to the people who create the value. That’s capitalism, baby.

Today, I’m going to do my best to unpack it. Web3 and the Metaverse are two separate ideas that may or may not intersect. I think the future is much more exciting if they do. To understand why, we’ll start by understanding Web3, dive into NFTs, then move onto the Metaverse, and then look at what could happen when these ideas converge.

  • What is Web3 and Why is it Important?
  • Non-Fungible Tokens and Digital Ownership.
  • NFTs in the Wild.
  • The Size of the Metaverse Prize.
  • The Open Versus Closed Metaverse.
  • Crucible and The Direct-to Avatar Economy.
  • The Value Chain of the Open Metaverse.
[...]

View attachment 40045

Web3, then, isn’t as much an idealistic repudiation of Web 2.0 (although that’s a good marketing tool) as much as it is a natural evolution of the market made possible by new technology.

“Cryptonetworks combine the best features of the first two internet eras: community-governed, decentralized networks with capabilities that will eventually exceed those of the most advanced centralized services.


At the heart of Web3 is the idea of consensus protocols and standards with money baked in. I think about it like a series of open source APIs that anyone can use to build according to an agreed upon set of rules, that gain financial value over time which is shared with everyone who contributes to the API.

Instead of building siloed products, Web3 is built for interoperability. This is a key concept, keep it in mind. Decentralized Finance (“DeFi”), which, as the name implies, is attempting to build a new financial system without central financial institutions, is one of the most promising layers being built on Web3. A common analogy for the way DeFi products are built is with “money legos.”



[...]

I’ve always viewed the Web3 movement as anti-capitalist. That couldn’t be further from the truth. The movement is really about doing one of the most capitalist things there is: cutting out the middleman. It means that instead of value accruing to the Aggregators, there can be a more direct connection between suppliers and consumers.

View attachment 40046

It’s not about taking money out of the system, it’s about moving the money around to the people who create and the people who consume, and to the people who maintain and improve the network itself. And it’s about attaching each user’s data and money directly to them (Self-Sovereign Identity), creating a public record that they own what they own (blockchain), and letting them take it with them, and profit from it, wherever they go on the web (Interoperability).

[...]

Proponents of the Metaverse predict that it will be a multi-trillion-dollar digital economy that replaces the internet with shared virtual worlds. If the internet is 2D and siloed, the Metaverse is 3D and interoperable, like if video games and the physical world had a baby.

In some ways, the seeds of the Metaverse are already here. We meet on Zoom, work in Teamflow, talk on Clubhouse, tweet on Twitter, shop on Amazon, and game in Fortnite. Today, though, all of these pieces are disconnected, like walking around a city and changing outfits and ID every time you enter a new building. Web3 and NFTs might hold the keys to stitching together the back-end of the Metaverse by building connective tissue and interoperability into the system.

[...]

A closed Metaverse is controlled by one or more large companies and lacks interoperability between platforms. Think of it like a 3D Web 2.0 with some new protocols. This is what happens if Facebook wins with Oculus and other Facebook Reality Labs projects, for example. If that happens, expect more of what happens today, on an unimaginable scale.

Sweeney and many others hope it never comes to that. They’re advocates for an Open Metaverse. The Open Metaverse is one built from the connection and interoperability of a series of different platforms, worlds, sites, stores, experiences and more. It’s a Web3 version of the Metaverse, in which players could travel from Fortnite to Roblox to Oculus, bringing all of their data, skins, NFTs, and digital currency with them seamlessly.

[...]

Metaverse will occur when there's an event that takes place simultaneously across multiple AAA platforms, where players can walk from one to the other as the same avatar, wearing the same skin.

Already, smaller developers are making this possible. Last week, Cryptovoxels, Somnium Space, and Decentraland announced that they’re working to let users portal between worlds.

[...]

The Value Chain of the Open Metaverse


Looking at [...] one example - Direct-to-Avatar, built on Web3 tech - gives a glimpse at how radically the value chain might change in an Open Metaverse.

So knowing that, what happens to the DTC value chain in a world of Direct-to-Avatar? I think it looks something like this:

View attachment 40043

By dematerializing the supply chain and selling directly to the end user, as represented by the Avatar, the D2A value chain removes entire steps - manufacturing, logistics, and support - and integrates R&D, Retail, and Marketing:
  • R&D becomes production, as renderings and previsualizations, potentially using materials and prices from DIGITALAX’s DOF Sheet, merge with the final product.
  • Retail. In the place of Shopify stores, designers might host their own fashion shows or auctions in virtual worlds built with the Unreal Engine.
  • Marketing. Limited edition drops, the word of which spreads through Discord servers, might replace marketing through traditional digital channels like Facebook and Google.
In this value chain, the profits don’t accrue to the aggregators, like they do in DTC. There’s no “40% of all VC money goes to Google and Facebook here” if it works. The creators will earn the profits[...]

Thanks for the write-up.

One thing I have trouble understanding is why or how does this make "Aggregators" obsolete in real life? Nothing and no one is preventing suppliers from selling directly to consumers in "Web 2.0", avoiding any middle man.

The real problem is getting your product/service in front of many consumers, that's where the "aggregators" come in handy and that's why they earn so much. What good does an NFT do if no one knows about your offer?
 
Last edited:

AceVentures

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Thanks for the write-up.

One thing I have trouble understanding is why or how does this make "Aggregators" obsolete in real life? Nothing and no one is preventing suppliers from selling directly to consumers in "Web 2.0", avoiding any middle man.

The real problem is getting your product/service in front of many consumers, that's where the "aggregators" come in handy and that's why they earn so much. What good does an NFT do if no one knows about your offer?

The best way to think about it is interoperability.

Facebook might be a good place to advertise, but this aggregator taxes you for hosting your information on their platform. Now imagine if the underlying ad you created was placed inside a smart-contract interoperable with every other ad-agency across the internet. Also not limited to just an ad-agency, but every other dApp can recognize the information you are trying to convey.

A marketplace of ad-agencies now emerges, from which EVERY ad can be accessed. What happens to the silos of ads on Facebook, when the ads you place on Web3 are accessible across EVERY app instead of just thru Facebook marketplace?

Think creating an add on Facebook, but it can also show up on Youtube, or it can also show up on every other dApp that wishes to fetch this information. The incentive for them would be to act as an affiliate on your behalf. The one ad on one marketplace becomes the ad that is accessible across all marketplaces.
 

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@AceVentures - in your research, have you come across real estate projects with NFTs? I think all assets will be on chain at some point in the future. It is just a better technology. This means that my industry (which is as ancient as they come) will be impacted. I could wait and be "surprised" by the disruption, or create it.

  • RE is generally considered illiquid. NFT provides liquidity (through liquidity pools)
  • valuation is often difficult. NFT will be market driven (although that may be a problem at first as any trade could be a market mover before scale is achieved).
  • RE diversification is only available for the very wealthy or through REITs. NFT on ERC20 would mean same small investor can participate in many projects, many assets - diversified.

Most of all, accessibility to RE for anyone, even small investors.

...
 

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@AceVentures - in your research, have you come across real estate projects with NFTs? I think all assets will be on chain at some point in the future. It is just a better technology. This means that my industry (which is as ancient as they come) will be impacted. I could wait and be "surprised" by the disruption, or create it.

  • RE is generally considered illiquid. NFT provides liquidity (through liquidity pools)
  • valuation is often difficult. NFT will be market driven (although that may be a problem at first as any trade could be a market mover before scale is achieved).
  • RE diversification is only available for the very wealthy or through REITs. NFT on ERC20 would mean same small investor can participate in many projects, many assets - diversified.

Most of all, accessibility to RE for anyone, even small investors.

...

I talked about it a couple months ago when I saw this auction go live:


NFT Real Estate auction for an apt in Ukraine - currently live for another 23 hours.

The challenge is the legal standards we use to process deeds and titles. How to transfer legal titles, using hard-identities, by tokenizing the sales process? This is the question you need to answer.

The problem is, crypto standards are universal, but real estate/ownership laws are managed within individual jurisdictions. To have open-standards interoperable with each jurisdiction is technically and philosophically not aligned with efficiency and sustainability.

Until there is a more coordinated effort to manage real-world assets *within tight regulatory frameworks and policies, it will be tough to build a solid business around the tokenization of Real-Estate.

Until regulatory bodies embrace and begin to lay foundations for tokenization, you're left to your own devices to navigate murky waters.

This example I pointed is using a registered LLC which owns the property, and tokenizing membership in the LLC as a means of transferring rights to you. You can see how this method is not a one-size fits all and riddled with potential liability concerns.

From the Real Estate auction's FAQ:

1632500370576.png
 
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AceVentures

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@AceVentures - in your research, have you come across real estate projects with NFTs? I think all assets will be on chain at some point in the future. It is just a better technology. This means that my industry (which is as ancient as they come) will be impacted. I could wait and be "surprised" by the disruption, or create it.

  • RE is generally considered illiquid. NFT provides liquidity (through liquidity pools)
  • valuation is often difficult. NFT will be market driven (although that may be a problem at first as any trade could be a market mover before scale is achieved).
  • RE diversification is only available for the very wealthy or through REITs. NFT on ERC20 would mean same small investor can participate in many projects, many assets - diversified.

Most of all, accessibility to RE for anyone, even small investors.

...

What is more likely, and what is the pattern I'm beginning to see, is that blockchain rails run by governments are the rails thru which these legal standards might be established.

The fed is funding BlackRock's massive real-estate purchases all around America. For next to nothing, practically free money. The idea would be to "fractionalize" the ownership of these single-family dwellings into funds. Similar to your idea. I just doubt they would allow titles/deeds to flow freely across global crypto networks. They would most likely constrain it to a more controlled, border-bound system.

At least that's how I see it playing out in the short-run. Who knows though? Keep asking questions...
 

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I'm sure you've heard by now China made cryptocurrency illegal, they caused a famous celebrity disappear off the Internet the other day, this will likely affect NFTs, as well. I can't wait for the first people to get arrested & jailed for it there.
 

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I'm sure you've heard by now China made cryptocurrency illegal, they caused a famous celebrity disappear off the Internet the other day, this will likely affect NFTs, as well. I can't wait for the first people to get arrested & jailed for it there.

You can't wait for free thinking people trying to build an equitable platform of open-source communication to get arrested and jailed?

Yikes... I hope you can open your mind and wish people the best.
 

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I've said this over and over again: you can't ban an open-source channel of communication on the open internet, you can only slow yourself down from engaging in these open economies.

The internet and technology march on, whether the Chinese communist party likes it or not.

FYI China has been "banning" crypto for a decade now. This fud is not news :thumbsup:
 

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You can't wait for free thinking people trying to build an equitable platform of open-source communication to get arrested and jailed?

Yikes... I hope you can open your mind and wish people the best.
You didn't sense the sarcasm.
 

DoingDeals

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I've said this over and over again: you can't ban an open-source channel of communication on the open internet, you can only slow yourself down from engaging in these open economies.

The internet and technology march on, whether the Chinese communist party likes it or not.

FYI China has been "banning" crypto for a decade now. This fud is not news :thumbsup:
It doesn't matter if it's FUD or not the market has no feelings & doesn't care what you think to be affected, unfortunately.
 

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It doesn't matter if it's FUD or not the market has no feelings & doesn't care what you think to be affected, unfortunately.

Refer to above and below. Once you understand this, truly, your fears will start to ease.

All the best!

1632509723268.png
 

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It's getting to the point that every time cryptocurrency drops in value, I automatically check the news for China's recent activity.

All this back and forth & differing opinions show is that it is still not functioning as a stable currency & headed for more regulation in countries that will allow it.

The whole point of cryptocurrency was to create a currency not regulated & controlled by governments that could not be centralized. At this point the governments are still moving forward with heavily regulating it.

Staying positive, however, maybe you should be happy about the regulations. It gives the opportunity when the market falls in the short-run to buy & invest more into it.

The United States will follow suit, undoubtedly. I predict they will be trying to push their digital currency forcing it upon our society, which will ultimately fail.
 

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DoingDeals

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I agree you know a lot about cryptocurrency & it will take over in the end, eventually, but it will be a fight & heavily regulated by the government for years to come, if you don't think so you're crazy.

It's basic common sense take away power from the governments around the world central banks & the United States Federal Reserve can't just print money they won't control anything anymore they're not going to just let it happen really easily & give it up.
 

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They're talking about taking away the 4th Amendment rights.


Word of advice: do not seek information from centralized distribution sources.

Find your information from the mouths of people you trust.

The information you see across the internet today is easily manipulated. What isn't is people. Honest people. Twitter is still a source of this type of information, albeit many other truths are hidden there.

Use DuckDuckGo or Qwant as great alternatives to Google for search engines
Use BitChute, LBRY, Rumble instead of Youtube
Use GAB, MeWe, Parler instead of Twitter
Use ProtonMail instead of Gmail

Until you begin to search for information from sources in which the truth remains, you will only see the mirage which is sold and placed on your screen as the truth.
 

DoingDeals

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My point is the government won't let it go without a fight like I've stated before already. That shows you how serious the government is willing to push against it. I don't think it will happen though. The fact that they're even entertaining the idea about redefining the Constitutional rights in Congress is insanely dangerous. That you don't see it is amazing.

I don't make the rules & just have observations.

Anyone can write things on Twitter by the way.

Elon Musk is getting into trouble with the SEC all the time.

He also says technology is overruled by regulation paraphrasing.
 

AceVentures

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My point is the government won't let it go without a fight like I've stated before already. That shows you how serious the government is willing to push against it. I don't think it will happen though. The fact that they're even entertaining the idea about redefining the Constitutional rights in Congress is insanely dangerous. That you don't see it is amazing.

I don't make the rules & just have observations.

Anyone can write things on Twitter by the way.

Elon Musk is getting into trouble with the SEC all the time.

He also says technology is overruled by regulation paraphrasing.

I'm not sure what you're on about. The government fighting crypto is not new, and has nothing to do with emergent business models enabled by this technology. It is a story, an important one, but unfortunately I don't see it as relevant to what we're talking about.

Would appreciate if you gave it a rest and allowed us to get back on topic.

If you have an illuminating perspective that you believe other readers can benefit from please go ahead, but I don't want us to waste time worrying about what government can or will do. Let's focus on what WE can do, which starts by educating ourselves about how this technology works.

Like I've said to you previously, if you truly understand how this technology works, you will begin to worry less about the government's opinion of this technology.

Let's keep this thread focused on emerging business models enabled by NFTs and Web3.
 

Ocean Man

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I was lucky enough to mint 2/7500! Metakey: Edition 4. The key sold out in 15 minutes.

I love the art of the key and the utility of the NFT are great!
 

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