About the talk
Fintech & Future Financial Services: NFTs: The new money to influence cultural norms
The world is now familiar with NFT art, but the application potential for NFTs is far broader. The ‘Play-to-Earn’ movement is an example of how NFT games are providing income-earning opportunities for people around the world, while Metapurse funds early-stage projects to catalyse global change — one NFT at a time. Twobadour from Metapurse and Gabby from “Play-to-Earn” discuss the future use cases for maximising the utility and yield of NFTs in the metaverse.
Twobadour - Steward - Metapurse
Gabby Dizon - Co-founder - Yield Guild Games
Justine Humenansky - Investor - Playground Global (Moderator)
Content strategist, communications professional, and steward of Metapurse, the largest NFT fund in the world. Inveterate storyteller for 13 years - as a journalist across print, broadcast and online media; as a brand and communications professional in financial technology, manufacturing and supply chain; as a creative strategist in advertising; and a diffident author.View the profile
I'm leaving on now. We have another three right? So I can guess I'm right pleased to introduce to you not going to talk about manatees as a game-changer earning money from A New Concept to you. I'm going to hand you to Justin humenansky. I'm sure you've had a lot about it just yet, but Justin will explain along without you. Just exactly how entities are working and how they become part of a real economy T. So just embarked and she's joining us from New York. Thanks so much for getting outside this morning. Thank you. I'm excited to be here. Very
excited for this conversation on nft. As we have to to panelist are going to be chatting with this morning. I'm Gaby Diaz on his driving, the plate movements co-founder who is actor in the world ends with you a little bit about the word that you're doing with these. My name is, Gavin is on, and I've been in the game industry since 2003. So it's 18 years in the game industry. Now in 2014. I started a mobile game Studio code how to get games to create games for IOS and Android
phones. And in two thousand Seventeen record about aetherium and smart contracts. And we started taking a look at this to see how it could change the game industry. And from there. I run into any of these winter. This was really so in very deep in the NFC. You seen since 2018 and now co-founded a plate or a gaming guild call Gil Gil, Gil, Gil, Gil. And what we do is that we invest in annuities from different play to run games such as acting in at the sandbox for me to when does a time and we lend it out to our player community, many of them in developing countries so
that they can her and I'm in town from playing these games. I haven't told him. I am Jupiter and Emerson. Trying to identify Diamonds in the Rough, incredibly country and the combination of what cryptos all about. Excellent. And so you're both pushing the nft space into an an area of experiences and consumption rather than just collecting and then and then that's what we talked about how you're working for. Okay, so I guess I'll go first so well for us and if these are really meant to be used. So we in the best lonely and entities that can be played inside a game
and burn some kind of reward resource. So for example, in Acts Infinity the the resource token that is burned by a clears. His quote SLB or smooth, love potion in forming, The Wonder of the time they are in their web token. And these are the tokens of people around while they are basically playing these games up for us. When we invest in assets inside the game. We really don't look to sell them. We want to build the largest collection of Italy working assets in the matter is that we can then a match with our user base. That is very passionate about these games. So
yeah, I would like, we were very excited about this. The emergence of play baroness. The big, you trim coming out of games and seeing these entities match 2, Players around the world that are excited and skilled to play these games. Having them in an income. That is usually the above. What is the minimum wage offered in these countries? So, yeah, we really are want to drive that you can eat for $0.40 a piece. When did you know what they believed in even when you
have the entire collection with a golden opportunity and the movie? Got soaked, so powerful and then user stories of how people are interacting with them. And it's really important movement is happening on the ground. How do people learn about an opportunity to learn? And it happened actually last year during the early part of the lock down here in Rhode Island Philippines. It wasn't really in the city centre. Swear the people who were laid off the study found axie infinity. And when people start posting about, hey, I'm playing this game. And then I was able to cash out like a month,
salary too much salary. I was able to buy food for the table. In some cases. I was able to buy a car and in some cases or even able to buy a house from their earnings playing games. Like when people post Online. It catches a lot of attention and virality. And now we really have communities in different cities around the world of people helping each other on how to play the game, how to unburn, how to use a crypto wallet, get better at the game and earn more. If it's such an amazing thing to see because it's all very community-based. People are in
3D like competing with one another, but you're helping each other kind of one board into crypto and into games and to learn how to how to make a living from it. Also transform themselves and make them have their identifying triple one. If you're doing this, that can be more than just. Call people that price of a very high. Missing, I think the fact that someone like me who has zero expertise, when it comes to technology, all Finance standing by the water use in, this is something Medical in talks about lot is variance of
creators and creatives right now. Yeah, very very highly agree with, with David or in that one main audience are in 300 people. A lot of them are simply Gamers people who have maybe he's play the lot in their childhood. We even have our like Grandparents were playing this game because they want to earn some extra money. So the most of the people that we work with have our first time crypto users of not interacting with a crypto wallet before and some of the MSDS that they may be using a r r, a little bit
little bit expensive. So we we do invest in the end of this ourselves and then we are we Landing out to the player so that we don't have, we don't need them to come up with that from cost. Stats for the year game. Yasso freshman fun happen. Is we in my spare time? I go on a 10ft art gallery in the Central and and when we were on board a lot of new artists to the NFP space, we noticed that most of them basically couldn't afford the gas cost of coming in. And we wanted an excuse to be accessible for any artists that wanted to come in and we didn't want it in a barrier to be me if you're
paying and wants $200 for your first 10ft when you don't know anything about the space and that's simply just too much of a barrier for people to overcome. So we see that the receipt in the wallet was actually I think it was just one either and then we promoted the first and fun as a way to get stockings art of Southeast Asian artists to make their first, and I am from their other donations came in. And then we started giving out money to pay for the gas cost of artists. And now I think there's around Thousand dollars in the wallet and it's managed by one of the artists
that we are. We on Borden. And yeah, we can just a great amount of talent just come in and if they're entities, That's so exciting, you can kind of be on board, a bunch of people that otherwise might not be encrypted, open ownership and collective experience of Anna. And so I think that I'm calling sides with the intersection intersection of Nevada, and so would love for you to kind of explain how you see the intersection of those two things. And maybe I we can be
in Baton Rouge. Do absolutely insist this song walking. And if he's be basically under the idea, that was incredibly appealing to us and wasted. Collective open experience and Collective ownership. And that's what we bought. Those 20 single Edition pieces of people's when she dropped in December and created these monuments Garden Inn in various States and the launch event itself would be called the afternoon in Chicago and essential and audio on Discord. You could still experience in
itself was also an experiment in in Collective ownership. Slice of the single-celled, organisms, over 5,000 people without ever having to create. This is just a piece of something. It's for me as a game developer and a fan of Science Fiction. I'm your very very passionate about this kind of heading to the murderers. And I would say that I think as a quonset the metaverse is still very early on but we have we have started to get the building blocks in place in terms of the nfc's. For example, that are a permanent that are interoperable. They're sitting on a ledger that stores bile, you
and what's happening in the next few years and months is that we're seeing a lot of very immersive experience as being built on top of these assets. And this is really one of the things that I'm most excited about in in this space. And it's something that I'm dedicating, the next decade plus of My Life 2. Yeah, I love that idea of a nasty representing kind of ownership experience. Transformative transfer. What do you think will be the future use cases for maximizing utility and yelled obscenities? I'd say.
I took gaming definition. I think, if you know anyone that sells oven, right, now,. Not like anyone, you know, I always like to look at this in in terms of three layers and that's when the matter was really comes together. The first bicycles. They Don't Really belong to you but when you start to see that in an Indian passage with a gaming world, like asking it something that you actually on the 2nd of utility to. What do I do with these? You have the truth and I can imagine the possibilities that financial institutions are.
You have the sweetest instinctively understood and because it's understood, you can have these Nope. And where do you think we are in terms of the path that to having that truck or a billion? Feel like I've been hearing about this is kind of the Holy Grail for a while. I think it's it's kind of already here in pieces in a flash in the pan. I think this needs a certain shift because when you think of what most people think of standardization, how do we
create one unified standard? I have different rules. That's all I think and pick up a lot of steam and has a lot of potential. Play. What, what I'd like to add to that is at our, our view is that the metaverse Israeli where the future of work is Heather? So, there's this been kind of dystopian notion that ass ass people with jobs in their deal road because of a, i, and Automation and Robotics what are people going to do? And I think that people are largely going to go into these Virtual Worlds and learn some kind of income. So it may not be just as a player, like,
what you doing oxy? What we're seeing is that there's actually a lot of rules for different types of people with different skills in the ecosystem. Of course, you can be a older, you can be an artist, you can be an animator, but you could also be for example, the fashion designer, a level designer, a Storyteller. So I think that there's just going to be so many times of jobs needed to kind of fill out the metaverse. And yes, this is really the most exciting part to me. That's really cool. And I guess what's really interesting about what you've been
saying this morning is just really kind of expanding the idea of like what you think about. getting there, wearing a salad that I can have a much broader than just what people think of, as SS. Somebody who's observing all of this. I have told Gaby story countless times when they ask about any of these and don't need to be anything by playing a game, you know, medical, when I know his background to what I meant for him, for the freedom of thought of Global
table. Young people are complex in the space. People who are experts at, all of them coming together on one singing project. I think that's that's one of the reasons why. Yeah, I think that's so important. Not just that. Yeah, I was asking is I think it's important. I'm just out of toothpaste with crypto space in general, like having story of a real user in the real-world impact, development of the industry. So, like one of the proceeds of the auction will go to a charity or social cause
or otherwise of the proceeds are used. Do we lose resting B face? Ali project site. That's an interesting question again. I think the more imaginative than, you know, sort of money into a cause. I think they actually helped a cause in sustainable, and I think you created an economy and basically created an institution, which is way more powerful than even if it is worth hundreds of thousands of dollars. What if the boat by something that's one, which between the second is, to create these tiny bubbles or festivals? If you want, you can call
it that I'm making. I thought of the Caden event it. What you want to do, the whole bunch of artists and then is to create an institution about this. Then I'll call him that you'll be leaving. Projects that you have and you have a particular purpose that you want to push forward. In this world, the making of money in the spending of money from trying to make your call. Thank you. Don't need to separate everything is again, but if I get institutions that support your quarters and create sustainable, economies and markets for those causes the other than, you know, having a one-time
transaction. Fully agree. Crypto has gotten a lot of headlines from little people who have gotten wealthy, or maybe soul on earth work for a huge amount of money, or maybe they got into a bit sore and extremely early, and they're worth a lot of money by now. Much of my work in the crypto space is trying to figure out systems where we can on board a rest of the population. Basically whether they are a player's creatives and crazy systems around though so that we can spread the distribution of power.
And of course, this is what a big part of what we're doing with you Gil. Not only with players, but onboarding kind of creators into the metaverse economy, but this is also something that I've been exploring a lot in Authority as well wear if we lower the barriers for people to obviously access this worldwide NFP Market. Then a lot of artists will also have a more sustainable living. And yeah, I think this is one way to really push cup. The forward into adoption and especially got to overcome a lot of the stick, but it's only for those people who were early already
very early or already rich and having that kind of accessibility means that I think Crystal will be more sustainable for all. Yeah, it definitely. And then I know people have different views on fractionalization as kind of a way to lower barriers to cultural you mention this earlier, so I would love to get your rear view. Yep, for sure. Right? But even that isn't even Doc is going to whenever you shouldn't say it. But the more I see when it comes to liquidation.
One of the most robust wins and if these on. Yeah, I'm a big fan of a fraction addition as well. I had a one of the first fractionalized taxes last year are using the text where I can see you, but it's not worth over $1000000 was scratching the lights. Into the AL MX2 can also kind of huge fan of B20 water bunch of it myself because I wanted to feel like I was part of this movement of this iconic basically is Iconic piece of artwork that was developed by a double or
a medical van in his statement. And now also actually using a uniquely and we have connections there of hash mask and of four dates that we fraction the lights for the community. And it's a very interesting interplay between an NSP which is unique. And basically on a fraction that I still can, which is a token that is more accessible to people wearing you. Are you democratize access and you provide greater access Philippine to something that is unique to something that is available and have basically more distributed ownership of it. I think this is going to continue
going for a while and I think there'll be a model ovarian. The real world assets, could also be represented the centerpiece and also a fraction that is so that people can have more distributed ownership in the future. Yeah, definitely. So we have opened at the last I guess. Now, he's asking to elaborate on other projects outside of art that use on a fuse, what you mentioned some but I'm sure there are others or for other Industries on Market. The question is just about like
the other ones that come to mind. I guess you don't like asking, is that going to give him directly and we have soda at but there is so much else waiting to be explored. I think that would also be the ideal way for to get into an accident on Sonoma. I think I can. Your backpack. Okay. Um, yeah, I can be used so many different ways you can you can, for example, own land in the virtual world,, You can use it as can't even access. Pick up and even with one of the question can can anesthesia be used in public service as
citizen. If it is, I think you're also headed to the Future where. For example, your birth certificate, your marriage certificate, the land title or the title to your car, police can be recorded as a centerpiece on on the blockchain and it could also be possibly kind of securitized borrowed against rated online. Yeah. So there's so many applications. Are there still yet privy undiscovered. Yeah, I want one that I would add that would work done, which is also aimed at kind of broadening the scope of what NFL teams could be hours. I worked at
uc-berkeley to Crate Mojo that represent a prize-winning research and then the proceeds. So we kind of looked at. As well as representing like a piece of history. And then another audience question is, how do you see the future of interoperability and & Beyond? I think interoperability is just like we really barely scratched the surface and that's because we're still building the world's that these enemies are being used on. Even if you look up some of the projects, like sandbox are decentraland or
cryptovoxels. These are all only several years old. And as a lot of these spiritual worlds, build out and new ones, come in old one. I think you're going to see, that's the most popular and if he is the most ensuring it once will really be represented in these different world. So, for example, if you have kept open for me, whatever they may be avatars that can represent you in a different worlds in the metaverse, or maybe if you if you have a piece of artwork, of course, it's something that you can hang in your gallery and essential in your house, in, in sandbox.
And yeah, I think if it's going to be really one of the strongest use cases, where you We'll see the enemies in your wallet being used in contacts in in different Virtual Worlds. What legal issues are challenges do you foresee in the NFP Market, or? What is a whole bunch? Right? I mean, I saved me. Challenges could be one way of looking at it. Is that about Crystal Chen in Genting and if things have become a thing, but I think that's just a little way down the line, not even yours
and if he's miserable and I think If you don't come to the on-ramp and then he knocked down on on Dacosta cologne. Gabby. Yeah, I don't have much to do out there s an art collector and curator. I would say that you just have to really dive and thought I've dealt with art and that I have been in game development and work with a lot of artists but I never elected Czar that before and a few. And yeah, I did. I just drove in and started looking at what other people were like collecting
at that time, people like whale shark or very early in the game and then I started gaining my own appreciation of what I meant and what styles I I went for. So it is really just coming down to like personal experience and preference and he just really have to get started. One interpretation of that is UConn number crunch your way into collecting any fries or force you to come out of the comfort zone of economics and public Enterprises that walk into space. And I think anybody that has an idea of trying to connect with shop,
in time become significant, is to make sure that what you collecting today is important to me even if nobody answers because I'm like in the dark knowledge base everything. Since you have nothing but there is no market for the end of the you hold in your hand right. Now. You better make sure that you loved it in the first place. Love it enough to go and put some money in connected to Strawberry are great words of wisdom from to take care of the clothes on. So, it's been fascinating discussion about open ownership and
new economy. Thank you so much for joining us as credible session, really good to learn more about Genesis. If you didn't do anything before, I start Nebo do now and really some of the read As Much from the heart of the empty. Space. I got everything just the B-25, one of the largest out of the people searching to hear festival live stream from Mountain, hearing about Starling as unburden says, may not have real jobs in the economy in the real economy. How cool my C drive space around the world with the
chokers entities in the back of us and how it's only beginning? You know, I know if it's time. I think this guy is encrypted from one recently, but it looks like this looks like transmission of money to really treat you the money and Crips. I am fascinating to hear about, you know, you have real job Christ in the economy here with falling back in the Philippines and other charger. He's seeing people manage going to manage but after an agency and then be able to get yield from allergies with fascinating, so just the beginning and thank you,
Justin to you for navigation, history. Just getting ready to understand to space as well. So thank you. I'll text you already like each other out there, 3 speakers. I would watch that back. If you can pictures of how to make good time. These guys, let me know what they're looking at.
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