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DCENTRAL Miami
December 1, 2021, Miami, FL, USA
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The Cross Between NFTs & DeFi
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About the talk


About speakers

Justin Wu
Founder at Dcentral Miami
Ciara Sun
Chief Of Staff at Huobi Global
Luke Xie
General Partner at Press Start Capital

I'm a growth hacker with a background in Information Architecture where I studied at the U of Washington. I've combined my experiences in product, development, to growth hack. I'm primarily focused on the future of Finance & the internet of money by working in the intersection of Fintech & Decentralized Finance (DeFi & Blockchain). Personal Brand - I share my thoughts on growth & marketing. Built over 200k+ followers across channels. Instagram, Twitter, LinkedIn In terms of growth hacks, I've helped brands achieve over $3m in Kickstarter and launched a SaaS company $100k MRR / $1MM ARR within first year.

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Fascinated with applications of blockchain across consumer, finance, and investing.

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Well, welcome, welcome. Yeah, I think it's working well before it again, I guess. Would you like to do a quick introduction and then go to Luke? My name is Ciara son. And how does listing and flashing? You must mend at school? Because we have been a world-leading, crypto exchange things, the year of 2013. On before joining quick call. I was working was, Boston Consulting Group for management consulting in the financial services area and after joint OB, I did several different sayings. I felt rvdt for Global partnership

and also institutional business units, and then finally, now I'm bleeding listing and Investments Applebee. Hi everyone. Lucia from our Press Start Capital. So we're a crypto gaming focused, fun and in terms of background. So I first buy my Bitcoins back in 2014, was helping Walmart with them to know, strategy in 2016. And that's when I kind of started really digging into crypto and blockchain do still so early and it up and actively investing in 2017 and launched our first find in 2018. In terms of

precook do background. I was starting my career as a consultant at McKinsey worth embarrassed of startups including a Airbnb. Looks like we got some technical difficulties, but jumping right into this, you know, we're seeing again like a little highlighted in the intro before we're seeing this cross between now. I mean, obviously not, we have to have the device on the stage all about defies. Then we're seeing NFC is there. But these entities now are providing a lot or they're actually holding a lot more value. Now, to that stable and I will have to see, I guess jumping

right into it though. I guess. The first question I have is, do you see like, entities holding or providing that stable value? And you can utilize, you see a future for that being utilized for like, defy or defy yields are providing that as the quiddity. That's my first question to you guys. Would it be for game, 5 luxury items or anything else to That's a great question. So I remember in 2020 the summer, it was the whole Define summer. Everybody was talking about. If I, and the whole liquidity on defy, secondary market trading has exploded and I see the same thing

happen for an XP this year. So I told you, we listed about 18 ft tokens and RN ft, mark his own. And for those 18 tokens for this year, 1st reporter is trading volume has about 250 billion US Dollars just for those 18 tokens. So that's how much it is. This Market has grown. And so far, the NFC marketplaces salt for the name, fundamental can side of the whole sales. I think that in Dusty are 32 of 2.7 billion dollars. And that's, you know, if grown from 13.7 million from last year, and that's just explosion is happening.

I think that's just a friend and we can ignore it. And I think that, I think that we should all do is that, you know, providing support, and engage with the community and I see though, Amazing use cases between you notify, an identity. For example, one of the one of the project that we work very closely was Isabella games and is listed on poorvi. And they're doing this amazing thing. You really tapping that has TNT by Mark head was this place to learn your revolutionary ring engine of the whole model for the market and they're launching their galloper is pretty soon to weeks.

I'm pretty excited to see how they can. You do for aging this too. I'll mark it together and how much they can do in the defiant them SeaWorld. Call Michael luk. What was their perspective on this, but you know, how much as part of the name of the game. And the reason I think it is so frothy is because it is still. So so early, I think for entities as a technology, as a platform. So, you know, when you think about kind of digital jpeg will prove ownership. I think that is a literally version

0.150. What kind of cheese can do? And I think it's, it's, there's a whole world of possibilities. Including you don't have the boring stuff like, mortgages, and insurance contracts and it, and what we think are the more fun things like crypto gaming, rice example of being, I think we are probably only a couple years away from the Ready Player, One reality where, you know, you go from one game to another and you take that same sword that you that you found in Diablo 5. You bring it into, let's say, Starcraft 3, you bring it into a tea, a game going to the Star Wars game? It's all

the same item and they look and behave differently, but it's also way to do that same item that you spent a hundred hours, you know, Finding in the original game. Great, and I think that we'll see I'm guessing in the next like she won four dates are going to be launching their own a coin. So I think it's already going to start happening where we're going to start seeing and I bet once once aboard ate lunch has a coin. I think all the other prp's are going to lunch to earn coin now and now everybody is complaining of a coin. So it's

going to be another new gfp Corn Fest, that's going to happen. And now if you hold pfds, they're going to start with potentially rewarding you with their coins and tokens to. So that seems like the direction that are moving towards but we are just like him and just like a month ago. We saw like a crypto Punk, did a flash mode sale in itself to shoot up, its value as well to. So my question is that is so I guess you see that as a potential attack vector or like a security security, 404 and of teas to provide be provided for liquidity, do you

think that's like a big boy? Alarm for us to do, you know some of these entities could be overvalued and can be manipulated in a way. So do you think that has like a juicy that has like an obstacle for your rating? Any asses? Cuz I could happen to like a gallon, odori Gala games or any other things were the value might be overvalued. I would love to hear your thoughts about that or the flashlight. Certainly are an interesting piece onto themselves. I think there's there's a lot of opportunity with them, as well as a lot of risks from

like a more fundamental of investor perspective. I think a lot of people get confused. The best way to the best mental model. I used to think about and if he valuations is that you're really putting a value on culture, right? So, you know, like what is the value of the, the top song on the billboard 40, right? What is the value of the most popular movie during this year? Right? What is the value of? Let's say, 8. Like a piece of item from that. I think that's what it is. He's represent, right? Like what is the value of being cool? What is the value of? You know, the next Yeezy

sneaker drop? And why is it in a why are people kind of bought a $10,000 for it? So it's value is a very actually, I think nebulous for a nap. He's all you need is one person willing to pay whatever it is that you're asking for it for it to have that value. Naruto cards, right? So the first Taco Bell and you know, that utilities so kind of all of these. That's your friends and I'll see if I forms and then we talked about and then phone number in Pelican like the Pod holder. And when I bought my first punk, I was

like really putting to the work of selecting the best pun that I I think what they're relating to me and I I would enjoy it as a piece of art that I wouldn't be really sell. And 44, like an investment, like was great, you know, the quality on the secondary market and I think that's a different story. And I remember last a month in New York during the week. I went to Kristi's house. All those amazing work he 11 by people. And if. So, if I sold 29 million dollars, I think and like you said, I'm very

excited to see how this is going to be in your wall. The next quarter, would she was no 8, launching their token and some of these be so severe. Expensive enough to work will be. Maybe a fraction wise to buy some of the some of the applications all day. Like one of our policy for Foley organically or they will be betrayed it again on a secondary Market. I'm in very curious to see it as full as for the other or some of the marketplace token, like Define ours or you know, the people

are guessing. It's open season on a long as your own token as well. That's just a similar. I think it's similar evaluation process goes through for any other type of utility token out there. And when those keys a launching their own kind of think it's very important for them to a carefully-designed. They're talking about economics to make it really work on secondary Market because it's just a totally different story for that. I like you also mentioned the idea of like the facts about ownership infection ization, which one I

think, will help out a little bit. That's why I think that that's when we start seeing and if she is being broken up and and also being used for Dan in defy, another lending as well to vote before he died a little more deeper than that. I guess the question kind of leading up to that though is outside of digital a real physical assets like art pieces. Oregon real estate as well too, right? I were starting to see if we're not even there yet. But a lot of people are trying to think about I guess showing like a ownership of a vehicle or house and turn

that into a 10ft and then that private providing that as liquidity or there's like another company here called 4K. They're trying to take your Rolex watch. And then you can lock that up into a trust and provide that as liquid E2. That's still super early on. But I guess what, what are you guys up for Stevie that you think that that's the direction that we will be headed towards? And what kind of assets do you think would be kind of the first to go for providing like Uniworld assets within a few? So we see everybody's getting into it. I'm serious right now, right? For for we look at a lot

of New Orlean project, early stages for CMS fence. And then the only like you sent housing, real estate video clips games, fashion and luxury. They're all out there and I think the sand, and some of some more States. Will you sing? Some of us are going on the rocks? And I think it takes quick partnership and afraid to come into the building. And also real real folder is where their packers to make this really work. And also when they're better lunch for their report cards are all utility Tolkien. And it's very important to

find, you know, secondary market for providers would go to the liquidity is always very important, I think, for, for liquidity to really catch up. Secondary markets for this whole room. So I think I would add. So what do you think about just technology in general, right technology is a democratize access. And so I think what crypto did in the early days as democratize access to wealth creation opportunity and what an adhesive done isn't democratize access to Art to culture and 2 Collectibles. Right? I think we're

very early days in. And I think the beauty of democratizing, the access is one more people have access to it and to buy making a digital. You can't rationalize it, right? And then you can do actually pretty creative things with the fractional identities and almost come close to Full Circle by fractionalizing into something that's relatively less throughout. Those are relatively more fungible and becoming a bit more of a token. Right? But what, what that does again, is it democratize access? Because not everybody can afford a board eight at, you know, 35e, right, but what you can afford

is ownership in a portion of what date, or you can join a Dell. Already have Some Apes on Ponce right and be part of that Collective. And overall. I think, you know, we are kind of moving towards more of a Creator and passion economy where those will be the True Value assets. Yeah, fractional ownership is going to be coming for both like game files and even wrote that sucks. I think we saw it, like a recently. Another one was at Red. Do they bite like a was a Dolce Gabbana dress, like worth a million or two or you got the Constitution Constitution to to Ore City

down to? There were there. So many different dialects us all come full circle between and a few defy dial, is the overall archery thing that's going to be rapping. Both. The community is game 5, and other assets together to at least put that to yourself. Now that lets say like a house is or like multiple commercial properties could be and if and if he'd then that couldn't be provided as liquidity. But getting in till like the topic of like fractional ownership to, I guess that opens up a whole

new possibility for like LP providing just for like factional ownership of all the different. Real estate properties in one night or even the game fight. The love to hear about your guys's thoughts, less time with you, Luke on kind of like the fractional ownership keys. Do you think that that is starting to get a little bit more like potentially Securities? Are you all right, but differently and that we haven't crossed yet because like I know that the real estate industry than always been trying to get like a Kickstarter for real estate and they haven't done it quite easily at. This is

still a credit investors. So do you think that I have to go full down or do you think that there could be some sort of somebody has to make that bridge to be there like a regulated entity to be able to allow for real-world assets and refuse to actually take you know, the next step for Mass adoption even than just buying The outside in terms of fractional ownership and assets, you know, I think the long-term view is in South, what it's a tidal wave that table, so we coming, right? And it's only, it's somewhat just a Securities regulations

being the way right now in the US in particular Friday, but crypto is worldwide, 24/7 365. And I I think very well you're going to see a lot of kind of fraction eyes, a real asset ownership of real estate of. I think you know of cars off of what Richard is doing with 4K of kind of like high-end Collectibles, some of that to your today. I think when you talk about them or you not going to Real Estate, more security side of things, the regulations, well, catch up eventually, and I think, you know, somebody else where in the world first.

I got to prove that bottle before the US bring lights it. I saw her. I remember back in 2018. Everybody was talking about it to you, or I have to go to for those real estate projects or this morning. I think that was one of the few successful was Ashley, did that. I don't remember ever a free lawyer in New York with a meetups far, far far is talk and everybody was talking about how Rock DeAndre is going to be so difficult for us. He owes and I really work in the UK Market liquidity. I

think it's going to be kind of like the same process go through for all fraction fraction wise enough. He's out there and ask for food be so everything that we do try to be falling compliance. Whatever country we go to is going to be different cases in different countries with us going to have their, their, their license. It's coming out pretty soon. For if I can get more tokens, groups are related business, business types. So they've already ate Call Gary change license. And I saying it this day is going to be, you know, hard especially and I'm not be that friendly with. So is the

Hold You by industria too and we all know that in the u.s.a., Like, in the East Market at has being, you know, very hard, but it's all rolling out all of his applications for a forklift all. So this Project's, all they're doing a fraction of them. Teeth worked on them CDs or or like Ico related projects. Just trying to be fully complies for all the country who go to and also is the country market holders wherever they are based in, try to be a little biased and always ask for the opinion that case. Great. Thanks for sharing your thoughts on that too. I

guess it looks like we're at the, the cutoff here, but I guess. Yeah, I would you like to share any last thoughts were like, is there an exciting directional project? So you guys are looking out for this kind of headed in that direction with the crossover between the end of season defy like weather be the ruler assets or game five projects or anything that your kind of excited about for what's to come? So this year, we have to honor to work with work. With a lot of the Creighton game Vienna nephew projects all day or so away from YG

Mudah, Belasco games, Define arts and high streets that uniquely a lot of the projects out there. We will support them from the beginning and we're happy to see that they are there between parade in the market right now. And I was so excited to support them along the way, you know, in the next quarter in the next here, in the next 10 years to see how much is the ministry, is going to be involved and we are always open to talk to more projects and to the two to support and to provide whatever resources a weekend to help those four projects to really grow and be more sustainable

and help the industrial scale in the future. I think from our side, you know, it's super, super excited about GameFly and crypto gaming Bradley, really believe dad's going to bring in the next billion users into a crypto. And what three the reason being is? I think, you know, it it in terms of play to earn, kind of making the next paradigm shift from the current free to play microtransactions and gambling mechanics. The current games have to something that's actually much more healthy

for society. To just, I think when you think about, you know, kind of interoperability of NFC in crypto, you're going to have interoperability and composability of the entire games themselves to Z games building on top of each other games, building within games, like what you've already seen with Roblox even Minecraft and you know decentraland. So people have been doing this, you know, free crypto and with crypto it's going to be super charge and basically gone. From 3 to 40 chest, in terms of everything you can do as a game builder as a player and as an investor.

So sorry I hear is that games as always has always been the leader in a lot in the overall most front edge Industries. Anyways, so it looks like game 5 is the next big thing. And yeah, I look forward to Roblox defy. Coming need to train my little future orchids to turn the little DJ. And so with that said, thanks again for everybody. Thanks again for her for the game. Five degens.

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Justin Wu
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