How Onchain Goes Mainstream

Transcript

Well, that was a great presentation by Murad and boy do I have a platform for him. Um Everyone, nice to meet you. My name is Paul Erlanger. I'm the CEO of FOMO and about 2 years ago, me and my co-founder went on an annual trip. We do this trip, he's born 2 weeks before me and we do this trip every year to National Park and this year we were at Joshua Tree. And while our friends were sleeping, we went on this long walk on a dirt road and Said always been very early to on-chain markets. He would be receiving different air drops and he was early to these different markets and trying to earn. Where I'm just a normal person and through the conversation we were starting to discuss what would it take for me to actually do the same thing cuz

there's such high friction here. And the conversation started to revolve around how does on-chain investing go mainstream? Now, for the past 2 years we've thought a lot about this issue and we've obviously built the platform FOMO and as you spend 24/7 thinking about the same thing continuously, your North Star starts to get a lot brighter and you start to realize a lot more about the problem you're solving. And Murad had like a really good intro here about what the future of these community driven markets look like. And what we realized is that the question about how on-chain goes mainstream is the wrong question.

The true question is how investing goes mainstream. Now, let's think about a little thought experiment. What if Instagram had no discovery? Your friend sends you a photo, you go and you click on that photo, you like the photo, you go to the comment section, you write some comments, you look at tags, etc. And then you go to look at something else. All there is is a search bar. You need to know exactly what to search for, who to search for, what to search for. This is a terrible experience. No one would ever go on Instagram again. And for investing, this is platforms for investing platforms, this is very easy to imagine. This is the current state of affairs. The best you get is you go onto a brokerage and you have a list of assets, you see prices, you see market caps. There is literally no discovery

mechanism. No one's heard that most of the world is not investing in assets and that investing platforms have not broken into pop culture. Finance has always been very social. It started with the New York Stock Exchange, a bunch of guys meeting on Wall Street and they were how do we have these new companies blossoming in this new country of America be publicly owned by general people. However, this has always been very fragmented. You have Wall Street Bets and Our Stocks on Reddit, then you have people doing new generational content about personal wealth building on TikTok, then you have X Money and people talking about different cash tags on X. This fragmentation has been the issue cuz there's never been a platform where you actually can transparently get information in real time and actualize

on it. People discover through people, so why is there never been an investing platform that allows you to do so? So, the blockchain had a really bad rep. Early on, and like any new technology, nefarious behaviors happened there. So, on the Silk Road, people would buy drugs with Bitcoin and then you started to realize that, okay, maybe there's some obfuscation here, but in reality, the blockchain is the most transparent network ever created. Every single participant in the network has full transparency into every single transaction done in this network.

However, it's always been obfuscated through these clunky block explorers. Everyone recognized the picture on the left, it's Ethereum. It's Etherscan. This is one transaction on Etherscan, no one's going to read this. On the right is the exact same transaction from a transaction in the feed on FOMO. You see the buy very transparently, you get instantly updated when this happens, and you actually have an identity tied to the actual position. And this is where FOMO lands. FOMO is the first transparent social graph for finance where you have the social aspect as the underlying glue for all these different markets. You could trade any asset in the world from anywhere with anyone. And currently FOMO is very much focused on on-chain assets, but in the

coming months we'll release a equities experience where you'll be able to trade any equity from anywhere in the world. Eventually we'll get into other asset types, too. And the key here is the social discovery cuz everyone is building an everything app and we truly believe that's very unintentional. You go on to Robinhood and interactive brokers or these other apps, you have your prediction markets next to your bank account, next to your retirement account, next to your equities product. And a lot of these assets you don't want to trade. Well, on FOMO you could come on and you could follow the equities guys, you could unfollow the meme coin guys. If Murad is right, then people will only be following meme coin guys, but you could curate your own experience on the platform. And this is where it gets really exciting. Because this is where the new content creator is created

and people like Murad who have an amazing things to talk about different assets and community building, it can happen natively on the platform. So, think about Michael Burry who on The Big Short. The Big Short happened, no one knew who Michael Burry was. The Big Short movie was created and then everyone knew who he was. Warren Buffett had The Intelligent Investor, Warren Buffett had different newsletters and podcasts and investor updates. That's how people found out about these different traders who grew these massive followings. Leopolds, right? From Bloom Energy on X. But there's never been a platform for these people that didn't have to build their own media networks.

They can access this platform natively. So, on FOMO you can discover anything on the leaderboard. We currently have localized leaderboard by time, but we're going to lean more into how you create new portfolio discoveries. Maybe someone wants a safer portfolio, maybe someone wants to go all in on meme coins. Well, you can follow the best people talking about any of these things fully transparently on the platform. And you ask why would would want to do this? Well, you have creator rewards on FOMO where the best people can start to earn a living. So, in September, FOMO did $15 million in payouts to creators on our platform, and you could imagine that's only 3 million users where this goes as we add hundreds of millions of users to this platform. The same way as

YouTube has paid out a hundred billion dollars in the past 2 years to creators on their platform, and X pays out creator rewards of users on their platform, on FOMO we reward people for providing good information, for making good trades, and for the people that follow them. There's many people with hundreds of thousands if not millions of followers on FOMO, and now all of them can earn. And then, where is the value in that? On the other side is the new investor class. There's been this classification of people that have always been told that investing is not for them. Maybe they're into fashion and want to buy LVMH stock. Maybe they have a certain thesis, but they've never been able to actualize that because there's never been a platform where they can access the inform the information without an education barrier. But, on FOMO the education barriers dissolve.

And the companies can interact, too. So, today on FOMO Solana has 170,000 holders alone, individual holders on FOMO. So, Vibhu, the CMO of Solana, and there's a bunch of the other team, can now hold supply on FOMO, and they could give messages through theses that get sent as a direct notification to every single person holding Solana on the platform. So, now imagine where this goes when we have equities on the platform. Maybe the C-suite of Nike comes onto FOMO. It's the highest intent distribution that's ever existed for a financial platform where people and company owners could actually directly communicate with the highest intent audience out there, the people who are actually holding their assets.

And everyone has a seat at the table. On FOMO, everyone could have an opinion as long as it's tied to an actual trade, which allows you to increase signal and weed out noise. And we're seeing platforms moving this direction of crowd-sourced community building, just like Mural was talking about. On X platform, you see community notes is a way to actually beat back this false information that's happening on the platform. Similarly, on FOMO, you can use your likes, and you could also have your own thesis to actually prevent contact to create context for people who are onboarding to the platform for the first time. So, imagine you have no clue how to invest. In a world with AI, everyone's worried, "How do I invest in AI?" Well, finally, you have a platform where it tells you how to invest in the stack. You can discover new things in

real time. And this is where Murad was the perfect entry. Everyone could become a community member. So, everyone remembers everything that happened on Wall Street Bets and GameStop. And there's this really exciting opportunity on FOMO to do community building natively in the app. Murad holds SPX on FOMO, and then you could he could give community updates to everyone there. However, there's always been fragmentation here. You need to have the communication on a separate platform from where the execution lies. There's no transparency if this person's actually holding the asset. It's been completely obvious.

Finally, if you could have a platform where in the world of AI, like Murad says, is going towards communities, the community-driven platform is where people will hold these assets natively, get updated in real time, and do this fully transparently. And I wish he had this slide, too, because this one's really exciting. So, in 2012 up until 2020, Robinhood only had 5 million funded accounts in the United States. Then, following the momentum of the new investor class that came through COVID from staying indoor, Robinhood went from 5 million to 12 and 1/2 million accounts in 1 year. And then, when the whole Wall Street Bets fiasco happened in late 2020, early 2021, Robinhood platform went from 12 12 and 1/2 to 22.7 million

users in less than a year. And to give you some context, it's been 6 years since then, and Robinhood currently has 28 million users. So, this shows you the power of community-driven events. There was this event on Wall Street Bets. People were talking about AMC and GameStop stock. They formed a community and then they went to a new platform and executed that vision. So imagine now instead of everything having to go perfect and lightning having to strike, you have a football field with millions of lightning rods where every single asset has a community built into it and at any time that community can actualize to actually grow a community around that asset and that's exactly what FOMO's building.

So in the world of AI where information is actually commoditized because anyone can make a deep fake, anyone can have any form of media and you actually only thing that people actually believe in is what they're holding, you need a platform that has access to a new investor class where people might be interested in in having certain takes, people can onboard with Apple Pay and get access information for the first time and a whole new investor class is created. My prediction is that in the next couple years FOMO will onboard hundreds of millions if not a billion people to the platform and be the first platform for a new investor class that has never had access to global equities.

Trade anything with anyone from anywhere. Thank you.