Web3 Rollup: Yuga Labs, the future of NFTs and Bitcoin Island

Transcript

what's up friends welcome to web3 academy a place for entrepreneurs creators and marketers to explore and learn how to use web 3 to transform business models and create thriving communities enjoy this next episode [Music] welcome to web3 academy it's the weekly roll-up coming at you uh in the final week of march holy juice can't believe uh it's almost march is almost over already uh man we got some we got some hot hot content today uh what a week it's been in web 3.

every week is truly incredible i'm jay hamilton coming at you as always from whistler bc where i am a web 3 business builder and growth marketer and as always i have with me my fellow my brother it's not as always because you weren't here last week actually that's that's we had a fill for you jay was down and out he was a bit sick uh but this is kyle calvary and i'm here coming to you live from nicaragua in papua living the surf life uh right now um my power is not out this week so that's really good everything is hopefully functioning well

what's up today jay okay today we got a let me just rip rip through the list and then we'll jump into it but we got we got yuga labs uh seems like we we keep covering them every week but there's there's so much happening over at hugo labs that we want to share uh we got a little topic about the future of nfts uh is more than just pfps who knew there's actually utility in nfts what is that what are some examples of that we're going to show you some pretty cool bitcoin island we're going to talk about that crazy concept uh then we're going to talk about uh the future of web3 uh some interesting reports coming out and some uh interesting ideas and concepts about where we could be in 2030 and what

the world would look like as web 3 develops and grows uh and then we're going to uh wrap up with some fun stuff some funny uh memes and content hopping around the internet and then finally uh we have our web three person of the month today uh which will be highlighting an absolute rock star female that's in uh just crushing it and leading the way in 3 excited to uh to highlight her but before we start as always take a deep breath and uh let's share some gratitude kyle why don't you go first what are you grateful for today oh i am grateful to be here in nicaragua right now uh my days now that i've been here for about a week and a half uh

my days have kind of got my nice routine and my days consist of three things i mean it's here working with web3 academy and impact digital marketing running these two businesses and building teams um it's surfing every day for at least two hours a day and then learning spanish taking classes for at least an hour hour and a half and then doing my own homework and studying for probably two hours in total of spanish if not more and then obviously getting to practice with locals here so it's just it's a perfect life um i'm so grateful blessed to be able to do this every day and just yeah super happy to be here right now i love it and and as a result i've noticed the uh no distractions means kyle is uh working 24 7. uh so a business partner like that and keeps

you keeps you going keeps you going kyle's pushing right now absolutely what about you what are you grateful for man i'm grateful for my health uh i got just absolutely rocked by kovid last week uh which was a bit of surprise because i had heard that covid wasn't that bad at least omicron wasn't that bad and it was pretty it was pretty for me really took me down and took me out so i'm glad to uh i'm happy to be healthy uh and very grateful to uh to be able to bounce back and to be back on the pod uh miss missed you guys last week uh and i'm also grateful for for jeremy for subbing in for me last week uh on the podcast showed up

lots of gratitude going around today because i'm also grateful to have you back man although jeremy did a phenomenal job so thank you i'm gonna i'm gonna lose my seat here i guess i gotta fight for it all right uh well before we begin as always kyle what's the web 3 word of the week the web 3 word of the week is an easy one this week it's yuga yuga labs is everywhere they're literally everywhere they're doing everything they're gonna start off our show as well we're gonna talk about what the heck's going on there but man these guys are just guys and gals are just crushing it they're just it's absolute insanity right now so yugo labs there they are web 3 right now i don't know why but what popped into my

head was uh the rikola commercial just the way you said yuga [Music] [Laughter] ah that's hilarious all right well that's great lead in here our first uh first topic of the week yeah first topic is board at yacht club nfc creator yuga labs right so we just saw you know they purchased the me bits and the crypto punks which was pretty heavy they just launched apecoin uh an apecoin dow last week which was pretty heavy um and now they have raised a seed round okay this is a seed round the first of an investment of a company for 450 million

dollars at a valuation of 4 billion i'm pretty sure and i don't like i haven't fact checked this but from everyone i've talked to this is the largest seed round in the history of the world who the heck gets 450 million dollars in a seed round but what's interesting is like this is the power of web3 they didn't need to raise money until this point right because now they're they basically have done so much and they're so far in the spotlight they're like hey we're going to build a metaverse and it's going to be insane and they have this huge brand and all this these assets and ip and stuff it's like okay now it makes sense to go like build the next disney kind of thing but like they were able to make it this far by just using the power of web three

right by using nfts by using tokens they funded themselves they didn't need vcs now it sucks they went they're out of the vc but that's fine whatever is what it is but 450 million dollar seed round that's insane they've only been around for a year that's that's like i think what are you talking about a year ago what the hell is going on yeah they launched they launched 40 upcoming year ago and the other thing is so they've now raised 450 million dollars and they have an estimated 500 million dollars in revenue this year right so they've got a billion dollars on their will have on their books that they can spend now on growth so they also have a the token that has an 11 billion dollar uh i think fully

diluted market cap at the moment so these guys are at no shortage i'll tell you that much well they probably have no cash it's all crypto but whatever [Laughter] so let's use that to sort of slide in here to their leaked pitch deck what happened here kai yeah so there's a there's a pitch deck from yugo labs i don't know that it was actually leaked that seems like uh seems right like they just did this on purpose yeah exactly leaked in quotations uh because it's a really well done um pitch deck uh and if anyone wants to see just how you can pitch web three how you can pitch um nft brands how you can pitch um you know metaverse and gaming these guys did

a really phenomenal job on just the things they want to do i don't really want to go through it all i think it's long it's like i don't know 60 pages whatever but um if you're building in the space check out this check out this pitch deck because they just sort of talk about the future what they want to do with this they go through all their financials so it gives you a good idea of like numbers and things that um they were doing what they're projecting basically what they're trying to do here though is they're going to take their brand board at yacht club um and they want to build out a metaverse for it and so they're kind of in the race now to build up the next let's call it like a decentraland or sandbox a place where people can go and

be immersed in the in the digital world um and they'll they'll be using board at yacht club throughout that and and the the you know the different apes and that throughout the metaverse and that'll be a big part of it so will me bits so will um crypto punks and they put out a trailer video i don't know a couple days ago as well where they had a couple other nft projects in there so it looks like they're basically trying to become the next disney um in the sense of like owning the top projects in the space in the top nft sort of ip and then they're going to build a like a universe around it which is going to be a game i guess i think it'll be a combination of both a um an rpg game and then like a metaverse where you can go and socialize and do

different things so they're going to like where the end point is for web3 that's where they're heading and they got the money to do it and they have the branding to do it so it's going to be very interesting to see what happens there yeah a couple things i want to call out from this and just for all of the builders out there and the doers who are you know whether you're starting your own web 3 project or you're getting involved in one this deck really is a great example of some of the key elements that you need to focus on in the beginning and i think the first of those key elements is you need a you need a mission or a

vision you need a reason for existence right and that needs to be very simple but also something that people can believe in and get inspired by and i love you labs is their focus on exploring big ideas in identity ownership utility and interoperability which are really the foundation of web 3 and words that we all use and talk about but this is what they're looking to disrupt is those spaces and be part of the future of ownership utility things that users really care about uh the other thing that they have in their deck that's so key is they highlight their team they've got a

rock star team behind them they have their founders and then they brought on a team of advisors who have incredible backgrounds and experience they were also one of the first to publish a road map uh which is so important so if you're if you're out there you're starting an nft project or a dao make sure you know you need to write a roadmap now we all know that there's lots of road maps that don't actually happen so be careful if you're looking to get involved in projects uh but you can't just make a mission you need a roadmap to how you're going to get to where you want to go and the other thing i want to call out here is they talked about ownership empowered the community and this is really i think what drove their successes the success of the board

yacht club brand can directly trace back to this pivotal decision it was by granting commercial ownership rights to our members we not only changed the game but we empowered them to push the brand even further collectively we make a marketing team of thousands right the the road map thing is is important you can start going to the next one jay but the roadmap is important because and we're realizing this now with web3 academy is we're also currently building out a dow and just trying to figure out the um you know all the details around that but the roadmap is key because people can then have a mission or some goals or something guiding that they can kind of go after and go oh this these are the things you're trying to reach

over the next you know year or two years like i can help here i can help you if you don't give that clear direction the community doesn't really know how to help so like dows are sweet and having a big community is really sweet and it's it's super helpful but like if they don't have direction then it's hard to make that community kind of cohesive and actually go after and do something um so road maps are really really key and you need a leader to create that or leaders to create that and sort of guide the community in a direction nailed it okay just because we're talking about boardian yacht club uh there's a great twitter thread by nifty table that points out some unbelievable stats about their story so

i just wanted to pull this up um to show some data of you know where they came from and how i mean just how incredible their growth has been uh so first first stat the average board of yacht club holding wallet bought or received its first ape 22 weeks ago so that's that's only five months ago uh that's how quickly this growth has happened uh two percent of boarding.club holding wallets participated in the original mint that sold out on may 1st so just over a year ago and the board 8 yacht club mint price was less than a year oh

less than a year yeah less than a year the mint price was .08 eth which was 236 dollars at the time let's see okay so now but only two percent of the holding wallets were around in the mint the median board yacht club holding wallet has spent an average of fifteen thousand per ape so average fifteen thousand per ape based on the current floor place which is actually over a hundred each now just over a hundred each which over 100 that's about 220 000

in today's east price so you're talking about a 14 times increase in value on its apes now i just need to say this you know results are not typical this is not investment advice so do not go around thinking that every nft project is going to get you a 14 times increase well and one of the things that people don't understand everyone's like oh man yeah i used to have one of those i could have held that thing for 100 x whatever but it's like even the board at yacht club the best of them all only 2.3 3 of people have the diamond hands to actually hold that all the way to what it is now right so like i don't care what you're minting you are not gonna hold it until it's at a hundred eighth nobody does i mean 2.3 does but like most people don't this is

why it's so damn hard to trade 2.3 i want to know who those people are they got some serious diamond hands uh so there are currently just over six thousand ape holding wallets eighty-one percent only own one ape and shout out there is one holder with 110 apes what's that we're we're in the wrong business jeez crazy okay there's one other thing hold on there's one more so okay the holders of board at yacht club not just you know what did you say 14x i think it was yeah yeah

um it's way more than 14x from the from the immediate like the average holder 14x so the average average purchase price was 15 000. that is 14x to about 220 000 today okay so those but the 2.3 they bought it at .08 ethan minted okay now worth a hundred eighth now here's what's even crazier they also got the airdrop of um the mutinape yacht clubs which i think their floor is i don't even know anymore but 20 30 40 something like that eath as well then another airdrop what i think is the serum or whatever which was over 10 eth then they have the apecoin airdrop if they continue that which they got what does it say 10 000 i think 94 is what you get for one if you have 1 8

which is worth over 112 000 so like these guys own an asset worth like whatever two hundred and fifty thousand and probably if they like sold all the things they got the eight coins and mutant whatever it's like it's like half a million dollars probably they made plus they hold on to their asset it's just it's insane and all in a freaking year yeah yeah insane insanity all right let's get off the yugo lab support eight block club scene well let's so okay so let's let's transfer into um nfts uh you know obviously we're talking about the biggest nft uh out there and just

here's a stat up here total nft sales volume all time on ethereum has now surpassed 50 billion dollars 50 billion dollars just insane now here's here's the thing most of these right now are probably jpegs pfps jpegs but what do we see about the future kai well this was a tweet that i put out this past week and basically just said you should not be asking how can i launch an nft which is something i get asked all the time and instead it should be you should be asking how can i use nfts

to support my business my idea or my community nfcs are not the idea they are just a tool to support the idea and the sooner this space figures that out the better and the reason why i said that is like um one i and i've said this on the on the podcast a bunch of times i think a lot of these pfp projects are just copycats of board at yacht club and crypto punks and like they just hold a certain amount of value because they were one of the first um they happen to just execute at an incredible level and they just like it's one of those once in a lifetime like just right place right time write everything um and most of these other ones just aren't going to do that and it's and the amount of people i get that are like i want to launch an ft what should i do

it's like that's just the wrong question it's not about an nft nfts are tools that help you with your business right just like i don't know getting an llc helps you with tax purposes and allows you to get investment for your business that's what an nft does it helps you with fundraising it helps you with governance or with you know distributing ip or you know whatever access et cetera like it's a tool it helps with branding board at yacht club it's brand new right you see an ape and that's that's branded great so it's a multi-purpose tool that does a bunch of different things which web 2 doesn't offer web3 does so it's an amazing tool at that it's an absolute incredible innovation and unlock for um for business um but it's not about the

nft that's just the utility that you then think about and you figure out how can i use this nft for utility of my business my idea my community um i mean board yeah look it's not about their nft it's about the business they're building around this metaverse and the game that they're going to create nfts will just be used inside of the game for land or for branding or for avatars etc and i just i think that's something people need to wrap their heads around and the sooner we do the sooner that this this space matures right um it's similar to what happened with the 2017-2018 ico boom we're just like everyone was like let's tokenize and and decentralize everything and it was like slow down guys we don't have to put a token on everything um

there needs to be utility for it otherwise that token goes to zero which almost you know like 99 of them did from back in the day so same sort of thing yeah i think i think you nailed it it's it's people are asking the wrong question right now right and it's it's human nature right uh something you know spikes in the media and everybody sees it and everybody wants to get involved they want to play you know they want to play in the game of fomo because you know you don't want to miss out right right but the nfts are they are not a business in themselves they unless you're trying to create a protocol to support nfts or something like that but for most people like you said it's a tool it's a digital swiss

army knife which is i never even saw that can you hit a like on that for me this is great nfts are digital swiss army's night swiss army knives i like that i didn't even notice that so let's let's jump into uh a couple examples of how you can use nfts uh so uh i've got one here which is bitcoin island uh so this is back in 2017 a group of people bought a one square mile private island uh and they they said hey anybody want to live here with us we'll come together we'll be crypto enthusiasts and 50 000 people

apply to live there uh you know why apply no capital gains tax no holy tax no death tax you have to live on a tropical island live around like-minded people right sweet okay um you're probably wondering where this island is and they've actually they're trying to change the name of this island to satoshi island which is also amazing uh the island is called venautu and it is basically off like east east of australia like just look at a map think where australia is it's east way out in the middle of nowhere and so they finally got approval to get permits and start building and so they're going to do

visa applications via an nft every home on the island is going to be an nft and they're going to try to you know use nfts to build a uh an island that can you know bring together great people so really cool uh example i don't know how legit this is i'm not gonna lie i'm not not here toting this bitcoin island but but if if this is you know this is something that definitely thinking about property and real estate and visa applications as nfts like incredible use case of nfts yeah we went super far into like where

web 3 can go where nfts can go but like look this makes sense and people are like well why do we need an nft as a as your visa right or as a like let's say as a passport whatever it's like have you ever tried to do like the passport process and how awful that is going into the like you know your your provincial or federal like um uh office and try to apply yeah like you know and then they give you this paper thing like mine currently my passport is ruined right now like my face is like all smudged because i was sweating when i was hiking one time and like it's you're not you're not able to get into canada though it's a struggle to get into the countries of this they're always like wait what's going on your face and so like if it was just nft

in my wallet like that can't happen that's so much easier so like it makes complete sense it's also cool that they're like you can only have a certain amount right so like they're only going to allow let's say 50 000 people on the island um so that's actually kind of cool create some scarcity and of course nfp's allow you to control that and same with like real estate you ever dealt with the amount of intermediaries in real estate is insane it actually is one of the reasons why i haven't bought land yet because i'm just like frustrated with how stupid it is and it's like nfts get rid of all that right you can just use a smart contract instead of a bunch of paper contracts with a bunch of lawyers and um so to me like it's definitely the future how that all works

and functions like right now obviously it's still open-ended and we don't have the best solution yet but like i can see that that's where it's going there's no doubt yeah well and that's that's a that's great conversation that we should have actually on another podcast is the the the application layer that needs to come in here because we've got the infrastructure now right and this is the way technology always advances you know first you have the infrastructure uh and then you have the application layer that builds on top of that and so uh that's the the next step um okay uh another another great example here uh of nft use case is uh

using the friends and um the way he sold bcon tickets so let me just give a quick recap of uh of how what garyvee did here so first he created an nft project called befriends which are those you know really simple uh hand-drawn he actually drew them himself hand-drawn uh pfp basically uh then he sold those 10 000 nfts initially for a profit of 20 million dollars and the utility of that was that you would get access to his annual conference and surprise drops in the future then over the past year the floor of that nft went from 2000 to 45 000

and gary vee made an additional 13 million in royalties on those sales through smart contracts which you can program into an nft so now we're leading up to v-con is uh i believe it's in may um so he launched vcon uh back in december announced a whole bunch of speakers um and then he airdropped a conference ticket to all the nft holders the v friends nft holders and they can either use that conference ticket or they can sell it so now you have a whole bunch of people who get value but then also they can they can then sell that ticket if they if

they're not able to attend if they don't want to attend and best part is because it's an nft he gets a cut of the secondary sales right so in just 24 hours the tickets have been resold 275 times and generated another 125 000 in profit right so you just an incredible use case of nfts well garyvee said um so i could actually see garyvee being or v friends i guess is what it's called being the next sort of yugolabs um yeah because for a few reasons one i mean it's garyvee this is just the kind of that he does he's just an incredible entrepreneur but um starts the same way right he's got this pfp project and he's now working on building utility around

it which is exactly what boarded yacht club did um and so he definitely has the means to be buying up others if he does we'll see what his play is but when he first launched i remember i was watching his stuff i think it was on bankless actually and he was talking about how he wants to be the next disney with v friends so he's like i'm not creating like profile pictures i really don't care about the profile pictures right that's not the purpose of these nfts sure that helps with branding i hope people put them on their twitter but he's like i don't give a about pfps he's like i want to turn these into characters in a movie right or a comic book or a whatever and he's like i want to create ip from this and build a brand he's like nfts are just a means of of me

being able to do that to create some funding to involve a community and now i can start to build out more and he's like i make a promise to all the holders of mts that i will make it my mission to build out real world utility build brands around this and movies et cetera so like that's his play here and i just hope everyone recognized like he didn't create these things for a dang pfp he created them because it's great ip and it's great branding to then go and create something much bigger and his he's looking as big as it gets again being the next the next disney and i think hugo labs is his main competitor right now yeah i mean i just got to say too i can't wait for the first ticketing platform like somebody out there please build the web3

ticketing app so that i no longer have to buy a ticket to a concert and then if i can't go and i got to deal with reselling it and oh what a night and i got to deal with scalpers if i i missed the original sale of the tickets and i gotta scalp the ticket and then it's the wrong ticket it's fake and i get scammed like all these issues are just gonna get eliminated when we have nfts as tickets well plus the royalties that people make right now when i go and sell the secondary market the artist that's nothing right yeah but yeah there already is some building this i can't remember the name of it i will figure it out maybe we'll get them on the podcast but there's a couple there's a few different protocols i've seen building this so if you're out there and you're

you're working on that please call us we want to talk reach out yeah okay let's uh let's slide into the future yes the future so i just asked this week i was like what what's exciting people the most about web3 and crypto it's always nice to ask the community and see what the heck's going on um and i actually had some really interesting takes when i asked this question you're gonna need to go to show more replies um but i had a few few good comments here um one was i like the idea of crypto being available to everyone regardless of status gender race education web 3 is a whole new world to explore um and absolutely love that that's basically what's gotten me into crypto from the beginning in web 3 is just like there's

no rules it's there's no like um it doesn't matter about your race or all these things you just anyone has access it's equality and i love that um someone else said uh you know love the opportunity for teams across the world to bring resources together to accomplish a mission it was possible for web three but hopefully web3 continues to deliver and improve this it makes it a lot more possible and a lot more um accessible when it's web3 versus trying to do that in the web 2 world so absolutely love that another take was marketing and web 3 gets to be creative and fun again it's all about connections communities networking and cool content and i think that's really cool too because really that is what web 3 is it's it's not just one person building something it's a community and you need

to get the community to surround around your nfts or your tokens or whatever um so it's a it's a really nice take on just like where web 3 is going and um so i love that i think the other comment that was was kind of funny was just the drama with the government is pretty lit which it is it is kind of interesting but i'm ready for that to be done with uh okay so talking about the future of web 3 accenture which is a one of the world's largest uh consulting accounting i don't even know what i t firms huge firm um i actually actually got an offer to work at accenture out of business school uh and didn't end up

taking it this is probably 15 years ago um but they produced incredible reports and trend analysis and so they released a report this past week um take a look at it uh it's it's about a hundred page slide deck dense with so many great things um but one one slide that really caught my attention was uh a a graph that basically shows uh a timeline of where we are what has happened to date and then some projections of the future and so i just want to read a few of these i'm going to start with a couple of where we are today

stats so um first is in 2020 the average american adult increases their time online 25 to 16 hours a day so for everyone else who doesn't think we're in the metaverse like we're already there right we just don't we just don't have the the hardware and the the apps to necessarily feel it yet but we're online 16 hours a day 60 hours a day average american adult 16 hours a day that's insane it's insane i guess i see it like i guess i i'm on my phone or a computer a lot but 16 hours

i guess the other thing is a lot of americans don't get eight hours of sleep like they're supposed to i think many of them get like five and six so i guess it's not all of their waking hours should be though kyle going back to this for those who don't know kyle used to have a uh health podcast health simple shout out uh so everybody get your eight hours of sleep kyle has given you your diagnosis also in 2020 um travis scott hosted a concert inside fortnite for 27 million fans so we're we're we're already in the metaverse already happened okay um and then one one that a lot of people talk

about is in 2021 uh nft artist beeple sold a a piece of art at auction for 69 million dollars right okay so that's that's up today today let's take a look at the future and see a couple that they project um first by 2028 they projected a major fashion major fashion retailers nft products begin to outsell its physical goods so that's that's six years from now 2024 and 2026.

do you like those ones i was i didn't find those ones as interesting okay no i don't know i just thought you missed it because it was down below but that is insane isn't that insane that and i mean i think that's and that's where we're going right digital products could outsell physical goods it seems crazy to say but um definitely possible okay another one 2030 by 2030 in china common items like deeds driver's licenses and birth certificates are certified on a blockchain sure i honestly i hope that happens before 20 30. i hope that happens very soon that would be there is there's your passport certified you might have to move into china 2024 is actually kind of interesting uh plans are announced for first blockchain

based international trade agreement i feel like this is about to happen already with what's going on with russia and everything in the world like with all these sanctions and stuff they're gonna have to do this probably even sooner but um yeah that's an interesting take too but keep going this is cool okay 2029 u.s libraries begin to install public use virtual reality devices so surprised it's that far away virtual reality i mean it's kind of funny because virtual reality people keep saying it's like this is the year this is here and it just keeps getting right but that's but that's saying that's saying that the u.s library so a massive organization to reach the

end of the bell curve right not the earlier doctor has public like hardware devices right so you could go by in the next seven years you could go to a us library and throw on a virtual reality headset and enter the virtual reality version of the metaverse whatever that might be here's a question what year did libraries get computers how far behind were they that's a good question when i think of a library it's a very boomer-led it's probably government government-owned like takes forever uh so yeah you're right they're definitely at the very end of the curve but i'm curious when they started bringing computers that's funny some somebody look that up

and let us know okay 20 2031 european commission classifies new category of workers who spend 100 of time in metaverse workspace i hope there is a means of movement in the metaverse i'm sure there will be virtual reality and augmented reality but otherwise we're going to have a lot of unhealthy and people in a lot of pain at all times peloton please make sure that the metaverse includes movement 2034 because it's the last one 2034 the average adult spends equal amount of time in immersive virtual worlds as the real one yeah i can see it all happening i can

see it all happening but i think it's going to be a much better people see this is the thing a lot of people are like i can't see that or like that sounds like so awful or whatever it sounds awful i think that's the act that's the reaction a lot of people have they don't right it doesn't sound good but i think that the world is go well not the world the the the metaverse or the digital world is going to be very different um it's going to be because it's more immersive because we're going to be in virtual reality wearing glasses or whatever and you'll have some sort of haptics and i've been listening to a lot of podcasts on with mark zuckerberg just talking about like how he sees the metaverse and it's just like he's like there'll just be so many more

um like the things that we're used to in in the in the real world is like touching someone right you feel someone you get to hug them right and when they touch you you feel that like the tightness or the warmth or whatever and that's going to be built into the technology right the other thing he talked about that i thought was super interesting i never thought of he's like in in the real world we look into each other's eyes right and that's an important part of like showing that you're paying attention showing that you care showing that you're listening whatever he's like but think about what we do in zoom none of us are looking in each other's eyes because in order for me to see you jay i have to look at the video which is the screen which means i'm actually looking away from you i'm

not looking in your eyes so neither of us are and he's like they're working on figuring out through virtual reality how they can actually have each other looking into each other's eyes so you have the actual people look at each other's eyes when you touch and shake hands you'll feel the warmth it'll squeeze because like what you'll be wearing like the haptics um you'll have like the sound which will be kind of all around you instead of just coming in like your ear in front of you and your computer the screen will be very different because you're fully immersed you're not just like looking at some random screen so like it will feel a lot more like the real world than it is when we're just like on zoom or something um and then there's the idea of obviously what crypto's gonna do if you actually have ownership and when you

work you can create things and build things and own things and i just think it's going to be a way better experience and there's going to be so much more we can do there so i don't think it's going to be as bad as people think yeah i agree well well said and well defined there uh okay one other uh future use case and this sort of connects to bitcoin island and the nfts that we were talking about before um so what's the you know the next wave of crypto adoption is it's gonna come from integrating crypto into boring real-life financial products like mortgages uh and here's an example of a company uh called figure uh who is going to allow you to

use your crypto for a zero cash out home mortgage so you can use a cripper as leverage and loan against that and the best part is you can do this without even selling your crypto you can still hold your crypto and just use it as leverage so really you know it's going to be really exciting to see these types of apps and abilities within the financial system to reach out to the masses to get them on board services yeah i mean this is my take on everyone's so excited i mean the people in crypto are really excited about d5 decentralized finance and like you know the borrowing the lending and all stuff and like yes it's amazing it's incredible and it's a huge unlock for

the world i love it but that shit's not gonna bring millions or billions of people into crypto there's just not because do you know how damn confusing it is to figure out apys and aprs and like whatever the hell else the collateral and all this like most the average person doesn't know that doesn't care about that less less than one percent less than one right exactly and that's why d5 is as small as it is right now and like yes it's a crazy unlock and this is huge mainly for those in the financial world but most people are not in that world and yes it would be great if everyone knew how to use this stuff and it would change everyone's lives but like most people don't care and are never going to do it what people are going to use though is almost not almost

everyone but most adults own a house and so if they can find a better way to get a cheaper mortgage right or to have a way cheaper you know interest rate or have to not spend uh you know tens of thousand dollars on fees with all their intermediaries and lawyers then they're gonna use crypto rails right they're going to use this is a technically a decentralized finance service um but it's it's for what people actually care about and use in real life which is like buying homes and i don't know it turns out nfts are just as popular if not more than people using d5 so buying pictures or whatever the heck else people want to buy but it's those things that the mainstream uses that just get better through crypto that's what's going to

onboard so many people yeah more than i think yeah so next up here uh i've got a tweet from chris dixon um who you know talking about crypto going mainstream well mainstream media uh the new york times uh released a guide this week called the late comer's guide to crypto and chris dixon very appropriately said there's no such thing as being late in crypto uh we're actually just getting started but what i what what the reason i bring this up is my parents actually reached out to me this week to tell me about this article uh because

they're not they're not listening to bankless they're not in the crypto media world and so and there's a lot of a lot of issues with trust right so like they trust their sources they trust their news sources so once the new york times does it all of a sudden it's on their radar so if you know if you have parents or family out there that are trying to understand crypto this is a great guy the new york times wrote as well they didn't just write about crypto they wrote a guide about nfts blockchain and web3 so really exciting to see mainstream media picking up on a basic education of all of these technologies my parents struggle to even explain what

i do like and i'm talking pre crypto like try listening my parents try to explain about me running a digital marketing agency is hilarious they have no idea what that is which is like it's kind of weird uh but so a couple weeks ago i i put a big thread i wrote this huge thread on instagram which instagram is not where i post any crypto web 3 content at all um and it's just where my friends and family are and none of them that i mean maybe one or two people that i know um are actually truly in this space web3 so i was like you know what i'm gonna do all my friends and family a favor at least that you know they can't say i didn't tell them about it and so i wrote this whole thread in like a simple way to try to explain what web3 was and just

say like take a look into it like here's what it is and explained it all i got to florida last week or two weeks ago to see my parents and i was like hey so did you guys read the thread that i wrote and my mom was like nah i skipped it i don't understand i was like what i was like i literally wrote that for for you literally for parents it's supposed to be that simple that anyone could understand she's like no i completely skipped it i was like okay thanks mom i gotta say though uh shout out to sue and bill reed head here uh we got to take a minute to tell the story of your dad's uh craig's craigslist uh scheme or his uh craigslist business of

of when he basically has a uh like a ski shop out of your garage right he's taking the gear and for those that follow gary vaynerchuk he always has to buy things at garage sales and then sell them on right craigslist on ebay whatever it's kijiji in canada they're from canada and he's been doing this for years um just finds random things that people want to buy and um and so he goes around town and buys all the snowboards and skis he can find at like garage sales and wherever else and he's just got them lined up around our garage and it's like when it comes winter in london ontario canada like the whole city is coming to our house and they're shopping and trying on boots he's a hustler you know he's like 70 something yeah he's never going to

retire because he didn't yeah he didn't have like a a pension all that stuff so he's he's got this and he does a great job he it funded them to go to florida for a month this year and um he crushes it he's also when when um so just one last final thing on them because they're hilarious so my dad's 73 uh when covet happened we got like a bunch of money from the government right they was giving it out to anyone and i said dad give me one of those give me one of your checks and just let me invest it and i didn't even tell him what and he's like all right so he gave me two grand and i put it in bitcoin uh when bitcoin i think was at 10 000 at the time and uh so he's he's had a nice like what

4x more than that now at least he doesn't even know he goes every couple months he remembers that he gave me the money because he forgets and he just goes hey kyle before i forget um that bitcoin or that corn thing what is that [Laughter] and i'm like just hold on man it's coming oh my gosh anyway let's move on too good uh okay well speaking about parents uh and the the uh the american dreams this is a great tweet from lee jin who if you don't follow highly recommend following her on twitter she puts out great great stuff and she said the old american dream is to own a house

the new american dream is to own a part of the internet i love this it's actually funny the one thing that i just continue to struggle with is like selling some of my crypto to buy a house like at some point i gotta buy a house i gotta buy i gotta like i gotta commit to the physical world at some point but it's just like a part of the internet is so much cooler and just seems so much more valuable to me but anyway it'll happen eventually but that's a good one i like that take it's yeah it's it's spot on and so i gotta i gotta lead that into a hilarious uh you know back and forth tweet that happened this week i don't know if you guys saw this uh but tom brady uh tweeted at uh the talk butter and

said what's up battalion you may not know me but just wanted to say i went first alex first yeah yeah look at one day i go four hours ago oh yeah yeah yeah yeah sorry um so metallic went first um metallic said i didn't even know who tom brady is had to ask people around me my best guess was that he was the actor from mission impossible tom brady the the greatest nfl player of all time uh so then tom brady said what's up vitalik you may not know me but i just wanted to say i'm a big fan of yours thank you for everything you've built in the world of crypto otherwise autograph wouldn't have been

possible hope to get i hope i get to meet you someday you're the goat and it's pretty incredible to see first of all so autograph is actually a protocol that tom brady is creating i don't know the details on it maybe we should showcase it one time um something to do with like sports and athletes and them kind of like a creator economy i think for for athletes um but very interesting but yeah how does vitalik and vitalik finishes by responding and saying thank you so much for your kind support and i just got vitalik is so cute he is he's just like a teddy bear like he's like the the smartest teddy bear in the world

you know the thing he really is but the thing he's actually an absolute genius but the thing that's interesting about metallic is like obviously he's a leader um in this space right just like a like an elon musk would be and what he's doing um and et cetera and like to see mattel if anyone has followed metallic for even just the last like i feel like the last three four years this guy is just like i mean he's still awkward and whatever but like he used to be extremely awkward now he's like fairly well spoken i don't want to say he's like amazingly spoken but like he's just like he he's well spoken um for the most part and just like the things that this guy talks about like there there's so many other leaders of other blockchains that are like all

about the money right and they just like they're like calling out other projects and they're like bashing other people like do kwan the one from tara luna just yesterday tweeted out that like you know he's got a stable coin and then die is the big one on ethereum and he's basically just tweeted out that die is gonna end soon it's gonna die and it's just like why even say that like that's not a good role model and vitalik is just he hasn't made a mistake yet he's just like he's just so um he just wants to focus on the research he wants to focus on exploring the potential of this um this industry and he's just done such a good job at leading i mean the ethereum foundation sure but leading just like the theorem devs and just the community at large and just exploring the possibilities here um

just an incredible role model of what battalion's doing um but also absolutely hilarious he wears like pajamas to conferences and teddy bear costumes and yeah doesn't even know tom brady is like what well and also what i love about vitalik is most people who who get as wealthy as he does that's you know at any age quite frankly turn into you know egotistical you know i'm too good for you uh but he's so grounded still and his his view has always been focused on bettering humanity i can't tell how many times i've heard him talk in a podcast and it always comes back to you know

improving uh public goods making the world a better place longevity of life you know quadratic funding in order to have a better model for fundraising for public goods for not-for-profits for charities incredible work yeah i think if there's there's a few like vitalik in this space there's sam bakeman freed spf who is the founder of ftx um and he's just i mean the guy's the richest under 30 last year i think it's billions of dollars already and he's like 31 and he's donating it all he's getting rid of it all doesn't care about money he again is just someone that wants to lead this industry in the right direction um brian armstrong the ceo of coinbase to me is also just a stand-up role model in this space and i think

we're lucky to have um you know leaders like those three um who are just really paving the way for this industry and just like you know really representing it well both the congress um and just to the world on social yeah yeah yeah yeah good there's another good gratitude right there thank you to to all those leaders that are making the world a better place and using your platform in such a positive way and likewise thank you to tom brady for being the the goat of uh guys vitalik's got to watch the buccaneers this year so speaking about great leaders and great people uh

we we're going to wrap up today's podcast with our web 3 person of the month so in past podcasts we had our dow of the month our nft of the month and our tool slash protocol of the month and this week we've got our web 3 person of the month so drum roll please our web 3 person of the month is katie han shout out to katie han uh what what an incredible human incredible woman uh incredible leader what a story she's such a badass like her story is just so for those who don't know katie han uh was a federal prosecutor so before being an investor federal prosecutor she wrote

worked on the silk road case which was the one that found the double agents who stole uh millions of bitcoin uh and just this week she announced she has left a16z where she was a partner um there and she has raised her own 1.5 billion dollar crypto fund 1.5 billion dollars and she said that um she's splitting that between uh 500 million going to seed seed capital and 1 billion going to acceleration uh and later stage capital investments

so incredible to see i mean the money flowing into crypto is just gonna what does that do it just opens more doors more opportunities more developers more talent in the space in web 3 that's going to build great things yeah absolutely if uh just one second for those who don't know um uh for those who don't know katie han you can um on real vision i don't know if it's free actually it might be in the paywall so this a this is a pitch for real vision so okay yeah unreal is essential i think it might be but she's on there and she's interviewed by i forget who it is um but it tells her a whole story it's like an hour actually i think it's two hours long i think it's two different episodes

and it goes through the whole story of silk road and like what they were looking at and how it all went like how the whole story all went and she gives all the insights of like some of the agents that were involved and um it's it's super super interesting so i would highly recommend checking out there i'm sure there's other stories that may be on youtube for free or something but um is a sixth story on real vision check that out yeah tim ferriss there's one on tim ferriss as well yeah yeah yeah but uh but but sign up for real vision kyle does not work for them at all he's not public he's not uh okay so um so kate honest started haunt ventures uh just a few things i want to shout out to this incredible woman and

this firm that they're creating um in their their release which is on mirror which is an awesome web3 tool shout out to mirror great tool for web3 she talks about building a different kind of firm for web3 and she points out three things that make han ventures different first is venture contributors and this is the idea that firms built for this moment need to be what one of our portfolio founders characterized as venture contributors this goes beyond asking how to be helpful it's about being an active committed participant in the community and operating in a way that advances the values of web 3. love

to see that action orientation that they're taking second thing that she talks about that's going to make them different is system change so she says we're helping founders deliver system change as a community we are engaged in a grand experiment to build new incentive structures for the web that can increase trust transparency privacy and opportunity to create a new internet that is an improvement over our current tech paradigm is a hugely ambitious project it is not only it only requires brilliant technologies to build out but also experienced operators who can responsibly share public opinion policy and broader systems that power society so that web3 can fulfill its potential

and then third thing that she talks about that's their focus is community participation she says we've baked community participation into our practices from day one as an early investor in the space i'm proud of the groundbreaking program i helped develop to delegate governance rights and tokens to civil society groups universities and non-profit organizations hon ventures will continue to broaden the array of voices involved in this ecosystem we'll build playbooks and share insights as we go that helps set new standards for how venture firms can participate in web 3. and i i bring up those three things because it really captures our beliefs at web3 academy the beliefs of all the members that we have in that

community everybody that we talk to our guests on this podcast that's really what we're all about here we're all about being an active participant and we're all about system change we're trying to change a system for to make the world a better place and improve humanity and shout out katie thanks for leading the way yeah i think they're bringing the web3 ethos to to their i don't know venture capital whatever you want to call it that they're doing um and to me i think that's really cool and i think web3 academy you know we want to as we form out of dow we also want to get into investing in web 3 projects and and helping move the space forward in a big way is through through contribution you know um i i don't just want to give money to people i want to

make sure we contribute we we obviously know a lot about the space we've been involved and met a lot of people in this space and and anything that i invest in i i want to make sure that i'm a part of and i'm helping to grow as well and i think that's the way you should do it um so good for her excited to see where that goes um we got so much capital coming into this space i think it was like 32 billion dollars uh came in through vcs in this space uh just in 2021 um and like you don't see the impact on that now right like if that all went into like i don't know the token of x you would see it you know you would see an impact that'd be crazy um but going into like vc into like private

companies and that you don't see it back now but in two years from now or a year from now that that 32 billion that came in through vc investment in the one point what was it that she's bringing in here one point 1.5 like that brings in the next sort of phase of products right like we had all the d5 products come in 2020 we had the nft stuff happen in 2021 um and it's like in 2023 you know you have this new phase of projects that are being built all because of this money that was just plowed into the industry last year um and um you know that's that's what's gonna be you know create the next apps that we all use and that's super exciting yeah yeah the uh we're on we're on we're on the roller coaster it's happening this rocket is

going straight to the moon so jump on ride it with us if you're not already in web3 academy join us on the ride whether it be listening the podcast or joining our discord community please come on board anybody that's working in web3 send us a dm kyle and i would love to talk to you uh we'd love to have you on the podcast uh and we want to build together want to make the world a better place and let's uh yeah let's let's all let's all lock arms and let's let's go let's go when jay said we're going to the moon that is not investment advice so our financial advice so don't uh don't take it as that should we should we get a disclaimer in the past we already have one i already

feel yeah we have one at the end i've filmed one already so it's just me saying that thank you so much we're a bunch of idiots and don't uh don't listen to our financial advice for the listeners you're about to hear that coming up in a few seconds anyway thanks everyone for joining us today on the weekly roll up everyone have a great weekend and we will see you guys next week oh next week we have um a panel we have a panel of marketing experts uh in web 3 that were marketing experts in the web 2 world have all moved over into the web three world we've got four of us and jay is going to um jay's going to host it um so if anyone hears this before then please reach out let us know what you want to hear what topics what questions you have

just ask at the discord and we will make sure to get to that on the panel next tuesday all right everyone thank you and peace out peace thank you for listening to web3 academy we hope this helps you along your web3 journey if it does please share this episode and subscribe so you don't miss the next one by the way if you have yet to join the discord community you are missing out this is where all the magic happens this is where we learn where we ask questions where we network uh you want to be in there the link to join is in the description below and finally a quick disclaimer nothing in this podcast was financial advice crypto and web3 can be risky you can literally lose it all in fact if you invest on account of what we say you probably will lose it all so

don't do that in all honesty the point of this podcast is to remove the noise of markets and price and focus on utility implementation anyway so you should not take any of this as financial advice thank you friends and see you in the next one