Latest / The Paul Barron Crypto Show / eBay on Ethereum!🚀MASSIVE Catalysts with Yat Siu ️‍🔥Animoca Brands

Transcript

eBay on Ethereum!🚀MASSIVE Catalysts with Yat Siu ️‍🔥Animoca Brands · The Paul Barron Crypto Show

• 0:05
  Speaker 1: My name is Paul Barren. Welcome back into tech path.
• 0:08
  Speaker 1: I want to get into a couple of topics today,
• 0:10
  Speaker 1: and one of the things is catalysts that could be
• 0:13
  Speaker 1: driving out of this market. As Bitcoin starts to receive slightly,
• 0:17
  Speaker 1: we might see some scenarios play out within not only
• 0:21
  Speaker 1: the all coin market, but maybe NFTs as well. And
• 0:24
  Speaker 1: it's going to be a good one. We're gonna have
• 0:26
  Speaker 1: special guests. YACHTSU you've had him on or you guys
• 0:28
  Speaker 1: have seen him here on the show before. Obviously we've
• 0:30
  Speaker 1: seen bitcoins started to adjust back down to ninety two,
• 0:33
  Speaker 1: and Ethereum, of course is defying this with maybe a
• 0:36
  Speaker 1: potential move as all coin season could be up on us.
• 0:40
  Speaker 1: Another thing that plays into this is what is happening
• 0:44
  Speaker 1: within some of the marketplaces. As you guys know, one
• 0:47
  Speaker 1: of the key marketplaces that we've been watching has been eBay,
• 0:51
  Speaker 1: and I want to cut to a clip real quick
• 0:54
  Speaker 1: to give you guys kind of a little bit of
• 0:56
  Speaker 1: an insight on where eBay is going and how this
• 0:59
  Speaker 1: could affect Ethereum. Take a look.
• 1:01
  Speaker 2: I am the engineering director for eBay, small but hopefully
• 1:04
  Speaker 2: impactful Web three team. So you walk into an office.
• 1:07
  Speaker 2: You see your colleagues stood around a board. Maybe you're
• 1:10
  Speaker 2: discussing the latest mean cooin AR enabled glasses. Not only
• 1:14
  Speaker 2: that it's looked in your address book and it's noticed
• 1:17
  Speaker 2: the pfps of your colleagues and displayed them on screen.
• 1:20
  Speaker 2: Not only that, it's noticed that your friend Dan at
• 1:23
  Speaker 2: the board has got a killer watch. Double tap your fingers.
• 1:27
  Speaker 2: After that, the digital product passport pops up a digital layer,
• 1:31
  Speaker 2: linking the physical product directly in your face. From this
• 1:35
  Speaker 2: digital link, you can see ownership. You might see if
• 1:37
  Speaker 2: it's got a warranty. You might see trading activity on
• 1:41
  Speaker 2: the secondary market, traceability, servicing insights. A physical item and
• 1:47
  Speaker 2: a product connector really a connector comes in many forms,
• 1:50
  Speaker 2: QR codes, rfdis, NFC chips, you know machine vision we
• 1:53
  Speaker 2: spoke about. And then you've got this digital layer. And
• 1:55
  Speaker 2: this is what I talk about for digital passports. There
• 1:59
  Speaker 2: is already people play in this game in the fashion
• 2:01
  Speaker 2: space and the luxury space.
• 2:03
  Speaker 3: Is there some form of an estimate tame timeline.
• 2:05
  Speaker 2: Or yeah, so I guess you know, we may already
• 2:07
  Speaker 2: be played in this place, this place in pilots, but
• 2:10
  Speaker 2: you may not notice, And maybe next year you'll sort
• 2:13
  Speaker 2: of be pushed up the rankings and things will become clearers.
• 2:16
  Speaker 3: What through do you think that you need from the
• 2:18
  Speaker 3: underlying technology to serve your users?
• 2:21
  Speaker 2: Had to really say stuff in public, but you know,
• 2:23
  Speaker 2: you know, in the last two years, with the rise
• 2:24
  Speaker 2: of L twos, there's an actual credible path for actually
• 2:27
  Speaker 2: how to achieve the throughput in the scale of the
• 2:29
  Speaker 2: eBay and that's what we'll be keeping an eye on,
• 2:31
  Speaker 2: you know, as that space emerges.
• 2:33
  Speaker 1: At number two, just behind Amazon, and I think this
• 2:36
  Speaker 1: is going to be a big factor moving forward. So
• 2:39
  Speaker 1: today we wanted to bring on our special guest, and
• 2:42
  Speaker 1: of course that is mister Yachtsu coming in from Animoka Brands.
• 2:46
  Speaker 1: Great to have you back on the show.
• 2:48
  Speaker 3: Yacht Sue, thank you for having me. It's also pleasure
• 2:50
  Speaker 3: to be on your show.
• 2:51
  Speaker 1: When you look at eBay as a potential marketplace for
• 2:54
  Speaker 1: not only NFTs, but maybe the advancement of web three
• 2:58
  Speaker 1: ethereum was pretty much the cornerstone of this, why do
• 3:01
  Speaker 1: you feel like they went this route as opposed to
• 3:04
  Speaker 1: you know, a variety of other selections they could have done.
• 3:07
  Speaker 3: It kind of makes sense. I mean, they're a marketplace
• 3:10
  Speaker 3: and they've kind of a really earlier on to sort
• 3:12
  Speaker 3: of stay relevant in the space. And I think you
• 3:15
  Speaker 3: also have to consider also where all the action really lies,
• 3:18
  Speaker 3: right in terms of when you think about what happened
• 3:20
  Speaker 3: in twenty one and twenty two and what happened to
• 3:22
  Speaker 3: the value of ethereum at the time, what was actually
• 3:25
  Speaker 3: driving a lot of that was actually NFTs, right, and
• 3:27
  Speaker 3: so many of the generational thinking around sort of words
• 3:30
  Speaker 3: a driver of these type of unique digital collectibles that's
• 3:34
  Speaker 3: actually in the EVM ecosystem right when you look at,
• 3:37
  Speaker 3: for instance, where a lot of the action is currently,
• 3:39
  Speaker 3: which is on meme coins, that's actually predominantly in Solana.
• 3:43
  Speaker 3: And in many ways mean coins and NFTs are actually
• 3:46
  Speaker 3: in similar cycles in terms of similar narratives in a
• 3:49
  Speaker 3: sense that you know, NFT projects started launching effectively be
• 3:51
  Speaker 3: mean coins, right, and now mean coins are launching their
• 3:54
  Speaker 3: own NFTs. But in terms of where most of the
• 3:56
  Speaker 3: dominance lies, clearly, Ethereum when it comes to the classic
• 4:00
  Speaker 3: forms of NFTs, as we know, actually has still most
• 4:03
  Speaker 3: of the mind share in comparison tome coins, which are
• 4:06
  Speaker 3: mostly sitting on Solana, right. So that's kind of where
• 4:08
  Speaker 3: where the ecosystems play.
• 4:10
  Speaker 1: Do you feel like too that with the layer twos
• 4:14
  Speaker 1: that reside within ethereum. Obviously we've seen a lot of
• 4:17
  Speaker 1: movement within those as well. You're reducing fees and the
• 4:20
  Speaker 1: opportunity of maybe some of these projects starting to really
• 4:23
  Speaker 1: expand on that. What are your thoughts on how these
• 4:25
  Speaker 1: layer twos might perform over the next little bit.
• 4:28
  Speaker 3: Yeah, so, I mean, I think this is where you
• 4:29
  Speaker 3: can see the difference between you know, the approaches of
• 4:31
  Speaker 3: modular versus sort of monolithic blockchains, right in the sense
• 4:35
  Speaker 3: that you know, there's you know, one strategy that says
• 4:37
  Speaker 3: everything consolidates into one network versus you know what we
• 4:40
  Speaker 3: see with EVM, Essentially everyone's building out different scaling solutions,
• 4:44
  Speaker 3: and I think, you know, the jury is still out
• 4:45
  Speaker 3: there as to what approach might be better. But you know,
• 4:48
  Speaker 3: you do have in these monolithic blockchains, you know, sometimes
• 4:52
  Speaker 3: problems happen, Like you know, how many times has the
• 4:54
  Speaker 3: Solana has blockchain essentially had to be rebooted effectively, right,
• 4:59
  Speaker 3: And you see this to be happening time and time again.
• 5:01
  Speaker 3: And it's not to say that that will be solved
• 5:03
  Speaker 3: over the long term, but that's kind of one of
• 5:04
  Speaker 3: the challenges that sort of the more monolithic type buck
• 5:07
  Speaker 3: chains have to deal with, Whereas you know, for e theory,
• 5:10
  Speaker 3: it's quite distributed actually, and I think that's actually one
• 5:12
  Speaker 3: of the things that actually shows how you can build
• 5:15
  Speaker 3: network effects distributed throughout the sort of various players. So
• 5:19
  Speaker 3: in other words, you know, if you know, polygon or
• 5:23
  Speaker 3: optimism or base or arbitram or any one of those
• 5:27
  Speaker 3: ecosystems actually start to grow, ultimately, it still benefits the
• 5:31
  Speaker 3: theory ecosystem, right, So it's it's it's a it's it's
• 5:35
  Speaker 3: And by the way, I don't believe that there is
• 5:37
  Speaker 3: sort of one solution that's better than the other, because
• 5:40
  Speaker 3: in many ways, I think that's actually how organizations, like,
• 5:43
  Speaker 3: for instance, in the world today, we have different organizations
• 5:46
  Speaker 3: that some work very well in a federated model, or
• 5:48
  Speaker 3: the same can be said about countries as well, right,
• 5:51
  Speaker 3: I mean, you know, one could definitely argue that the
• 5:54
  Speaker 3: US runs much more in a federated style model, with
• 5:57
  Speaker 3: the states essentially sort of basically governing themselves with an
• 6:00
  Speaker 3: overarching model that governs all of them, versus certain other
• 6:03
  Speaker 3: countries that might be praised for certain efficiencies because they're
• 6:07
  Speaker 3: much more centralized but come with certain weaknesses attached as well, Right, So,
• 6:11
  Speaker 3: I think we're seeing the same things basically sort of
• 6:14
  Speaker 3: play out between sort of you know, essentially modular versus
• 6:17
  Speaker 3: monolithic sort of ecosystems.
• 6:19
  Speaker 1: I was looking over on Magic, and first of all,
• 6:22
  Speaker 1: Courtyard has been one of the top leaders on that.
• 6:24
  Speaker 1: If you look at just some of the zoon you
• 6:27
  Speaker 1: can kind of see the growth here in terms of
• 6:29
  Speaker 1: total transactions really starting to accelerate daily transactions at least,
• 6:34
  Speaker 1: and with that you're also seeing obviously NFT growth. So
• 6:39
  Speaker 1: I think when you look at that and where we
• 6:41
  Speaker 1: could be looking at a tokenized asset bull run, is
• 6:46
  Speaker 1: that something that you feel has yet to be triggered
• 6:49
  Speaker 1: so far. What are your thoughts on that?
• 6:51
  Speaker 3: Yeah, so I think there's a macro question and sort
• 6:53
  Speaker 3: of general question when you talk about something like Courtyard.
• 6:56
  Speaker 3: I think what they sort of started doing earlier on
• 6:58
  Speaker 3: was essentially give sort of physical incentives as well for
• 7:01
  Speaker 3: central digital experiences, Right so, I think they sort of
• 7:04
  Speaker 3: created sort of an analog around that, and actually, if
• 7:07
  Speaker 3: I recall correctly, they were using actually actual rare Pokemon
• 7:11
  Speaker 3: cards so to sort of kind of bring I guess
• 7:13
  Speaker 3: a certain type of audience into it, right, which is basically,
• 7:16
  Speaker 3: you know, I think a pretty smart marketing method as
• 7:19
  Speaker 3: a way to approach that. But when it comes to
• 7:21
  Speaker 3: sort of how we look at NFTs, right, so generally speaking,
• 7:24
  Speaker 3: NFTs are cultural in context, Like we've all described NFTs
• 7:28
  Speaker 3: as stores of digital culture, but really it's another kind
• 7:31
  Speaker 3: of capital. And so when you think of sort of
• 7:34
  Speaker 3: you know, the classic forms of capital, we talk about
• 7:36
  Speaker 3: cultural capital, symbolic capital, social capital, and economic capital, right,
• 7:40
  Speaker 3: NFTs really represent much more strongly cultural and symbolic capital,
• 7:46
  Speaker 3: with of course some element of social versus the say,
• 7:49
  Speaker 3: fungible tokens like mean coins that are much more economic
• 7:53
  Speaker 3: and you know, social, but far less although they still
• 7:58
  Speaker 3: have them, far less cultural and sort of symbolic in nature.
• 8:02
  Speaker 3: And so once you start making money and you have
• 8:03
  Speaker 3: a bunch of dollars, then how do you distinguish yourself? Well,
• 8:07
  Speaker 3: you seek the symbolic and the cultural right, meaning you know,
• 8:11
  Speaker 3: where you live, or the kind of acts that you have,
• 8:13
  Speaker 3: or maybe the clothes you wear, right, or maybe the
• 8:15
  Speaker 3: watch that you have, right, And that's where NFTs are going,
• 8:18
  Speaker 3: as in that's where NFTs are. You know, it's kind
• 8:21
  Speaker 3: of like when people talk about millionaires. Yes, there's a
• 8:24
  Speaker 3: big material difference between someone who has one million and
• 8:26
  Speaker 3: five million, but in the category, you're still a millionaire, right,
• 8:30
  Speaker 3: And there's an interesting distinction around that because now it's like, Okay,
• 8:33
  Speaker 3: you're still a millionaire, but you're the millionaire that has
• 8:35
  Speaker 3: a Picasso. Oh, that's different as opposed to you're the
• 8:38
  Speaker 3: millionaire who's maybe you know, you know, owns a role experience.
• 8:42
  Speaker 3: And suddenly we start building these sort of cultural context
• 8:46
  Speaker 3: and social connections between our peers and networks within that group,
• 8:50
  Speaker 3: and it forms a part of our identity. That's what
• 8:52
  Speaker 3: NFTs are, which is why the reason why one of
• 8:55
  Speaker 3: the main reason that NFTs sorry that mean coins are
• 8:57
  Speaker 3: launching NFT collections of their own cat through that cultural context. Right.
• 9:01
  Speaker 3: If you look at Solana, right, actually, you know the
• 9:03
  Speaker 3: top the top selling NFT collections on Solana are basically
• 9:06
  Speaker 3: mean coin NFTs. Right. So this is kind of a
• 9:09
  Speaker 3: cycle that we're seeing repeating itself. And so as a
• 9:11
  Speaker 3: crypto community and as a web through world keeps growing
• 9:14
  Speaker 3: the demand for these og NFT assets, I think you're
• 9:16
  Speaker 3: going to keep keep growing.
• 9:17
  Speaker 1: But when you look at just tokenized assets in general.
• 9:21
  Speaker 1: Is there anything or one particular category that you feel
• 9:25
  Speaker 1: in this cycle, especially around Web three, that we're going
• 9:28
  Speaker 1: to see, Oh, the light bulb has come on tokenized assets.
• 9:32
  Speaker 1: These are some of the big movers here in these
• 9:34
  Speaker 1: next few years. Anything that you're watching.
• 9:36
  Speaker 3: There's two categories, right. One of them is the RWA
• 9:40
  Speaker 3: type of category, which is sort of things that tied
• 9:42
  Speaker 3: to the real world. You know, stable coins obviously going
• 9:44
  Speaker 3: to continue to be a big driver where but on
• 9:47
  Speaker 3: the on the digital side, you know, we think gaming,
• 9:49
  Speaker 3: you know, is going to hit basically sort of prime
• 9:52
  Speaker 3: time in twenty five because many of the big games
• 9:55
  Speaker 3: are actually finally launching, like titles like Off the Grid,
• 9:57
  Speaker 3: which is also part of our portfolio, and you've seen
• 10:00
  Speaker 3: probably over the last couple of days, so that the
• 10:02
  Speaker 3: gaming og tokens such as savoxx Infinity, even the centraland
• 10:06
  Speaker 3: again all part of a part of the Animal group
• 10:08
  Speaker 3: have have all started to sort of you know, come
• 10:11
  Speaker 3: back in style as it were, right, So you can
• 10:13
  Speaker 3: see a little bit of that driver as well. And
• 10:15
  Speaker 3: then of course another category that we're invested quite heavily
• 10:18
  Speaker 3: in is deepened and of course you know what we're
• 10:21
  Speaker 3: also seeing with things like open campus with du you know,
• 10:24
  Speaker 3: essentially things like student loans, right, So they're basically coming
• 10:28
  Speaker 3: out with solutions to essentially improve student loans as in,
• 10:31
  Speaker 3: you know, better returns for investors and lower interest rates
• 10:34
  Speaker 3: for students, for instance, because of all the Web three
• 10:37
  Speaker 3: paradigms that you can generate. That is another form of
• 10:40
  Speaker 3: essentially real world integration. Because student loans touches you know,
• 10:43
  Speaker 3: basically every student in America pretty much, and you know,
• 10:47
  Speaker 3: it's a two point two trillion dollars space. So we
• 10:48
  Speaker 3: see all these categories basically sort of adding towards that.
• 10:51
  Speaker 3: And I think the other thing I would also add
• 10:53
  Speaker 3: is that the institutional attention that we're seeing in Web
• 10:56
  Speaker 3: three now is you know, starting to reach essentially new
• 10:59
  Speaker 3: high as well, not just for bitcoin ETFs, but for
• 11:02
  Speaker 3: all sorts of other categories. Right, So you've got inflow
• 11:04
  Speaker 3: of capital into space that is going to drive more
• 11:06
  Speaker 3: investments as well. I think it's going to be a
• 11:08
  Speaker 3: whole new sort of a range of new investor groups
• 11:11
  Speaker 3: and venture capital that essentially was shy to Interwork three
• 11:14
  Speaker 3: they'll enter there as well. So I think all of
• 11:17
  Speaker 3: those things come together. I don't think it's necessarily one
• 11:20
  Speaker 3: category or another. I think it's all of these things
• 11:22
  Speaker 3: happening pretty much in tandem that essentially pushing the industry forward.
• 11:26
  Speaker 1: When you look at some of the leading companies within this,
• 11:29
  Speaker 1: let me kind of show my screen here, because this
• 11:32
  Speaker 1: is kind of some interesting things that are happening within
• 11:34
  Speaker 1: the Disney ecosystem. Pinnacle was of course a program that
• 11:39
  Speaker 1: was getting into collectibles and if you look at what
• 11:42
  Speaker 1: they've been able to do, and this is getting ready
• 11:44
  Speaker 1: to launch on what is this December nineteenth, and with
• 11:48
  Speaker 1: that the likelihood of this going over and being in
• 11:52
  Speaker 1: their Disney Plus. This is the Disney Plus site right here,
• 11:55
  Speaker 1: so you can kind of see a little bit of
• 11:56
  Speaker 1: the branding that's already starting to take place in terms
• 11:59
  Speaker 1: of merch we might actually see an NFT collection coming
• 12:04
  Speaker 1: in on Disney. With that being the case, and you
• 12:07
  Speaker 1: look at these kinds of moves from companies like like
• 12:11
  Speaker 1: Disney in general, I mean, where do you think this
• 12:16
  Speaker 1: can go? And do you think we'll see more companies
• 12:19
  Speaker 1: that kind of trail into what their strategy has been
• 12:21
  Speaker 1: here recently?
• 12:22
  Speaker 3: One we have to sort of bear in mind that
• 12:24
  Speaker 3: a lot of companies, and especially in the US have
• 12:27
  Speaker 3: been looking at Web three and are mostly been shy,
• 12:31
  Speaker 3: not because they necessarily didn't think there was potential, but
• 12:33
  Speaker 3: because frankly, the regulated climate was quite hostile towards and
• 12:37
  Speaker 3: so I think now that sort of the sort of
• 12:40
  Speaker 3: the tide has sort of shifted quite dramatically, they're all
• 12:43
  Speaker 3: sort of saying, Okay, now we're ready to start exploring
• 12:46
  Speaker 3: more deeply in whatever category that might be. So it's
• 12:49
  Speaker 3: not a surprise to me at all that, you know,
• 12:51
  Speaker 3: major brands are all looking into Asian counterparts, like the
• 12:53
  Speaker 3: gaming companies like Square Enix instance, have actually been experimenting
• 12:57
  Speaker 3: with Web three far far earlier and continue to do so.
• 13:00
  Speaker 3: When you look at basically gaming companies in you know,
• 13:02
  Speaker 3: in in Southeast Asia, Greater China, Japan, and Korea actually
• 13:07
  Speaker 3: and certainly in the Middle East, they've all been dabbing
• 13:09
  Speaker 3: or in some case launching nythy collections or even actually
• 13:12
  Speaker 3: launching token projects that you've seen basically in Korea. So
• 13:14
  Speaker 3: there is still a gap in terms of the markets
• 13:17
  Speaker 3: just because essentially they haven't felt its restricted. And most
• 13:20
  Speaker 3: recently even we had Animal cou just announced sort of
• 13:22
  Speaker 3: a deal with Lamborghini, for instance, we're basically bringing a
• 13:26
  Speaker 3: brand like that into Web three, for example, and you know,
• 13:29
  Speaker 3: expect a lot more of that to happen. You know,
• 13:31
  Speaker 3: in twenty one and twenty two, there was I think
• 13:34
  Speaker 3: just too much sort of too much emphasis on just
• 13:38
  Speaker 3: the collectible in itself, right in terms of, hey, it
• 13:40
  Speaker 3: could be valuable, and yes there's the potential without actually
• 13:44
  Speaker 3: thinking of the consequences in terms of what happens once
• 13:47
  Speaker 3: you put out these NFTs and then the community's like, okay, great,
• 13:50
  Speaker 3: we bought yourself. Now what right you know, outside of
• 13:53
  Speaker 3: the speculative value, what else is there? And so I
• 13:56
  Speaker 3: think the last couple of years quite a few of
• 13:58
  Speaker 3: them have matured now into sort of that next stage
• 14:00
  Speaker 3: to say, okay, we can launch NFTs, but if it's
• 14:04
  Speaker 3: beyond the collectible, what else do we offer of certain value?
• 14:07
  Speaker 3: Where it's membership, where it's access, whether it's a game,
• 14:10
  Speaker 3: you know, other things that you can add on top.
• 14:12
  Speaker 3: And I think now it's more mature, and also the
• 14:14
  Speaker 3: pricing is also not as crazy. I mean, remember, you know,
• 14:17
  Speaker 3: back in the peak of late twenty one and early
• 14:20
  Speaker 3: twenty two, people were selling NFTs on primary mins for
• 14:23
  Speaker 3: literally tens of thousands of dollars thinking that that was okay, right,
• 14:27
  Speaker 3: you know, we never did that at anamoca. But that's
• 14:29
  Speaker 3: basically something that people just started doing this. And then afterwards,
• 14:32
  Speaker 3: you know, when the market started to sort of you know,
• 14:34
  Speaker 3: basically decline, you know, low and behold. You know, customers
• 14:37
  Speaker 3: were like, what's up, dude, and no, exactly you know,
• 14:40
  Speaker 3: they didn't have an answer because because they didn't even
• 14:43
  Speaker 3: they never had a.
• 14:43
  Speaker 1: Plant, right, And then you look at something like this,
• 14:46
  Speaker 1: let me kind of show my screen one more time.
• 14:50
  Speaker 1: This is an example right here of the Flow reward shop.
• 14:53
  Speaker 1: So here's a good example. And of course Flow very
• 14:56
  Speaker 1: tied to what's happening not only with Dipper Labs, but
• 14:59
  Speaker 1: also within the Pinnic project there within Disney, and you
• 15:02
  Speaker 1: look at the things, these are major rewards. So it
• 15:05
  Speaker 1: is becoming something that is first of all mainstream, very
• 15:10
  Speaker 1: valuable in terms of the reward itself. And then further,
• 15:13
  Speaker 1: if you look at you get into the rewards store itself,
• 15:17
  Speaker 1: that was the reward store, but just the way that
• 15:19
  Speaker 1: they've been to do doing such a good job at
• 15:21
  Speaker 1: marketing this, all of this starting to become something that
• 15:26
  Speaker 1: is so unique in terms of a brand position. Do
• 15:29
  Speaker 1: you think this is going to be, without a doubt,
• 15:32
  Speaker 1: the way forward for brands to really extend their IP.
• 15:35
  Speaker 3: Absolutely, And it's not just the you know, when you
• 15:38
  Speaker 3: think about how brands ended up growing in the web two,
• 15:42
  Speaker 3: it was ugc right. And remember how in their earty
• 15:44
  Speaker 3: days they resisted it. They were like, oh, YouTube, you
• 15:48
  Speaker 3: can't remix our content. We don't like that, don't use
• 15:50
  Speaker 3: our music, don't use a content. And now it's like,
• 15:53
  Speaker 3: please use it. Just make sure we get our cut
• 15:55
  Speaker 3: right because actually, as the user started remixing the content
• 15:59
  Speaker 3: and creating a new out of it, actually what they
• 16:01
  Speaker 3: started building was more network effects, and they basically proliffering
• 16:04
  Speaker 3: to the brand and made it more famous. I also
• 16:06
  Speaker 3: wanted touch a little bit. You know you talked about
• 16:07
  Speaker 3: sort of I guess you know air drops, And we
• 16:09
  Speaker 3: also describe airdrops often as sort of the inverse of marketing.
• 16:12
  Speaker 3: Instead of paying a platform for use acquisition, you pay
• 16:14
  Speaker 3: to use it directly for use acquisition. And I think
• 16:17
  Speaker 3: you'll see a lot more of that. And I think
• 16:18
  Speaker 3: this is also a way in which the brands end
• 16:20
  Speaker 3: up having a direct relationship with the consumer in a
• 16:24
  Speaker 3: digital way, which they can't READO on a social network,
• 16:26
  Speaker 3: so they actually have to pay the platform to remarket
• 16:29
  Speaker 3: to their own users, whereas over here be able to
• 16:31
  Speaker 3: have direct access. But there are things that we still
• 16:34
  Speaker 3: need in industry, and that's kind of what we're looking
• 16:36
  Speaker 3: to solve with Mochoverse, for instance, on digital reputation.
• 16:38
  Speaker 1: Let me share my screen with you. I want to
• 16:40
  Speaker 1: show you something here that I think is interesting, and
• 16:42
  Speaker 1: that is is has the NFT bull run actually started
• 16:45
  Speaker 1: to take place Pudgy Penguins. If you look at just
• 16:48
  Speaker 1: the activity within Pudgy, which is I would say the
• 16:51
  Speaker 1: number one NFT out there. I'm looking at the ninety
• 16:54
  Speaker 1: day chart here in terms of volume and price, and
• 16:57
  Speaker 1: you can see that essentially Pudgie Penguin's the NFT are
• 17:00
  Speaker 1: actually outperforming ethereum. So when you look at, first of all,
• 17:04
  Speaker 1: a project like Pudget Penguin, do you think this is
• 17:09
  Speaker 1: indicative of just what Luca has been able to do
• 17:12
  Speaker 1: from a brand perspective of building something, you know, acquiring
• 17:16
  Speaker 1: and then building something and just getting some really good
• 17:20
  Speaker 1: breaks with what they've been able to do, or do
• 17:23
  Speaker 1: you think this is just the beginning of many Pudgy
• 17:26
  Speaker 1: Penguins coming out in the future.
• 17:27
  Speaker 3: First of all, I guess just just for disclosure, and
• 17:30
  Speaker 3: I think you may have seen the announcement and Anamok
• 17:33
  Speaker 3: is very proud to sort of announce that, you know,
• 17:35
  Speaker 3: we've made an investment essentially in the company behind Pudgie Penguins.
• 17:40
  Speaker 3: So so that to that point were super bulish. And
• 17:42
  Speaker 3: we do agree with you that Luca has been incredible
• 17:45
  Speaker 3: entrepreneur and built you know, something that was actually left
• 17:48
  Speaker 3: for dead. Most people may have even forgotten that that
• 17:51
  Speaker 3: was actually a dying brand, and he brought it back
• 17:54
  Speaker 3: and brought all of his entrepreneurial and marketing shops to it,
• 17:57
  Speaker 3: you know, built it to what is today, you know,
• 17:58
  Speaker 3: all the stuff and sort of to activations he's done
• 18:01
  Speaker 3: is a good example of how you inticate between the two.
• 18:04
  Speaker 3: But I also believe that you know, it's early days,
• 18:06
  Speaker 3: meaning that it's you know, it's not just about one brand.
• 18:09
  Speaker 3: It's going to be many brands that are emerging in
• 18:11
  Speaker 3: terms of highest value and fts on ethereum. I mean
• 18:14
  Speaker 3: that's still CryptoPunks and you go lapses board apes, right,
• 18:18
  Speaker 3: I mean, that's that's something we shouldn't forget. Of course,
• 18:21
  Speaker 3: also part of our portfolio. I think it's the entire
• 18:25
  Speaker 3: NFT space has actually been sort of back on the rise,
• 18:28
  Speaker 3: especially in the last month. You can see this basically
• 18:31
  Speaker 3: throughout multiple collections as well. But one thing that's also
• 18:35
  Speaker 3: different is that the ecosystem has become more fragmented. Remember
• 18:39
  Speaker 3: back in twenty one twenty two, ninety percent of all
• 18:42
  Speaker 3: NFT volume was basically on ethereum, right, and today it's
• 18:45
  Speaker 3: much more distributed, you know, between Solana and different L
• 18:49
  Speaker 3: twos and so on. So the whole space continues to
• 18:52
  Speaker 3: I think thrive, But the actual sort of sort of
• 18:55
  Speaker 3: emphasis isn't just on one blockchain or the other, and
• 18:57
  Speaker 3: so so expect, for instance, projects to launch a cross
• 19:01
  Speaker 3: chain and cross systems. I mean, you know, if you
• 19:03
  Speaker 3: look at something like like you know, what's happening with
• 19:05
  Speaker 3: board apes and ape coin for instance, ape Point now
• 19:08
  Speaker 3: is its own chain, right, you know basically as well,
• 19:11
  Speaker 3: So expect a lot more of these type of sort
• 19:13
  Speaker 3: of you know, sort of twists and turns in our space.
• 19:16
  Speaker 1: Do you think this is necessary for a digital we'll
• 19:22
  Speaker 1: call it a web three product or project to really
• 19:25
  Speaker 1: kind of evolve in the future that it has to
• 19:28
  Speaker 1: go the track that Pudgy Penguins has done both with
• 19:32
  Speaker 1: physical digital branding ips. So I don't connectivities and gaming
• 19:37
  Speaker 1: tell me about that.
• 19:38
  Speaker 3: So I don't think so. First of all, that's not
• 19:41
  Speaker 3: to say that what Luca did wasn't incredible, but it
• 19:44
  Speaker 3: takes someone like Luca to do it right. You know,
• 19:48
  Speaker 3: forget for a moment whether it's an NFT or whether
• 19:50
  Speaker 3: it's a non NFT as in like a brand, whether
• 19:53
  Speaker 3: it's a Marvel or Disney or whichever. Each of these
• 19:56
  Speaker 3: have unique stories with entirely unique approaches that actually aren't
• 20:01
  Speaker 3: necessarily tied to a playbook from one copy by the other.
• 20:05
  Speaker 3: In fact, they all ended up owning something that was
• 20:08
  Speaker 3: sort of unique to their own sort of nature. And
• 20:11
  Speaker 3: so what we expect is that there's going to be
• 20:12
  Speaker 3: a lot more areas of mass adoption with these approaches,
• 20:15
  Speaker 3: but they're going to come from approaches that aren't a
• 20:18
  Speaker 3: copy of another necessarily. And I also don't know that
• 20:21
  Speaker 3: it's necessary for every you know, for every successful consumer
• 20:25
  Speaker 3: brand to actually try to extend into the physical world, like,
• 20:29
  Speaker 3: for instance, you know, when you look at gaming brands,
• 20:32
  Speaker 3: whether this is a Fortnite or Roadblocks right, or even
• 20:36
  Speaker 3: a Minecraft I mean, you know, or even you know,
• 20:39
  Speaker 3: these these are games that became really really popular, you know,
• 20:42
  Speaker 3: and so people started licensing Minecraft merchandise and licensing basically
• 20:46
  Speaker 3: different gaming IP to produce physical stuff because there was
• 20:50
  Speaker 3: already brand awareness around it. Gaming brands are a great
• 20:54
  Speaker 3: example of IP that develops purely digitally, and it's in
• 20:58
  Speaker 3: fact that digital presence it gives it its physical demand,
• 21:02
  Speaker 3: not because it necessarily needs to go physical, if you
• 21:05
  Speaker 3: know what I mean.
• 21:06
  Speaker 1: So, yeah, Sue, I want to talk about games because
• 21:08
  Speaker 1: we're you know, games have been I would say, in
• 21:11
  Speaker 1: this particular run quite a bit more advanced. And I
• 21:15
  Speaker 1: want to share a slide with you that we saw
• 21:17
  Speaker 1: on Twitter that I thought was kind of interesting, and
• 21:20
  Speaker 1: that is popular games. These are on the Epic Game Store,
• 21:23
  Speaker 1: And first of all, we had no games on the
• 21:25
  Speaker 1: Epic Game Store in twenty twenty one, the last Bull Run.
• 21:28
  Speaker 1: So now you've got Shrapnel Alluvium. I mean, most of
• 21:30
  Speaker 1: the people will probably recognize a lot of these within
• 21:33
  Speaker 1: this and that of course is not even really moving
• 21:36
  Speaker 1: into the six off the green there. When you look
• 21:40
  Speaker 1: at the current state of gaming, do you feel like
• 21:44
  Speaker 1: this is the next the beginning of the next gaming
• 21:47
  Speaker 1: bull run, what are your thoughts.
• 21:49
  Speaker 3: Absolutely, we're hittering essentially a Web three three point zero,
• 21:54
  Speaker 3: as it were, a sort of step right, so if
• 21:57
  Speaker 3: web sort of if the one point oher was essentially
• 21:59
  Speaker 3: first generator of things like acxio Infinity and sort of
• 22:03
  Speaker 3: sad Box and so, which have all evolved as well.
• 22:05
  Speaker 3: For instance, like you know, Sandboxes is running their season
• 22:07
  Speaker 3: four and you know already has you know, one, hundreds
• 22:10
  Speaker 3: of thousands of active users, you know, and getting quite
• 22:12
  Speaker 3: a bit of excitement. And you can see that obviously,
• 22:14
  Speaker 3: I think in some of the success of the token price,
• 22:17
  Speaker 3: for instance, is that kind of version one and then
• 22:20
  Speaker 3: version two, interesting enough, actually was telegraphed sort of you know,
• 22:24
  Speaker 3: tap to earn era, right, you know, you know, and
• 22:26
  Speaker 3: to me it was kind of representative of that casual
• 22:29
  Speaker 3: era of sort of bringing people into Web three gaming
• 22:31
  Speaker 3: who frankly just want to tap and click, kind of
• 22:33
  Speaker 3: like how the early days of mobile gaming was in
• 22:35
  Speaker 3: twenty eleven twenty twelve. And now you can see, you know,
• 22:40
  Speaker 3: with Epic and particularly with Off the Grid that essentially,
• 22:43
  Speaker 3: you know, you're getting into this sort of you know,
• 22:45
  Speaker 3: triple aish type quality. Maybe not on all of them
• 22:47
  Speaker 3: are triple A per se, but moving into that sort
• 22:50
  Speaker 3: of era direction and then basically bringing on the Web
• 22:54
  Speaker 3: two gamer who wouldn't normally play Web three game but
• 22:58
  Speaker 3: now actually like the game for the game itself and
• 23:02
  Speaker 3: actually not necessarily there to earn something, they just to
• 23:06
  Speaker 3: play there. And then the benefits of that start to
• 23:08
  Speaker 3: seep in and we can see it with Off the Grid.
• 23:10
  Speaker 3: So I think that's the next wave. And so this
• 23:12
  Speaker 3: mass of like billions of Web two gamers moving onto
• 23:15
  Speaker 3: Web three, you know, with titles such as Off the Grid,
• 23:18
  Speaker 3: I think are sort of leading that way. And again
• 23:21
  Speaker 3: I said this earlier on your show. It takes like
• 23:23
  Speaker 3: three to five years to make a really good game,
• 23:25
  Speaker 3: and you know, we're we're now hitting that point.
• 23:27
  Speaker 1: I want to show this because this is the mobile gaming.
• 23:30
  Speaker 1: I think that we're starting to see a little bit
• 23:32
  Speaker 1: more of this. Of course is Off the Grid, but
• 23:35
  Speaker 1: it's on mobile, and when you look at mobile right now,
• 23:39
  Speaker 1: that's definitely going to be I think probably one of
• 23:42
  Speaker 1: the key drivers in terms of pickup in terms of
• 23:46
  Speaker 1: adoption around Web three gaming. Well, first of all, do
• 23:49
  Speaker 1: you have a specific top gaming chain that you think
• 23:54
  Speaker 1: is maybe going to be a winner in this particular cycle.
• 23:57
  Speaker 3: Interesting, I think to me, the key toferentiator is going
• 24:00
  Speaker 3: to be on the distribution side. First. That's why we're
• 24:03
  Speaker 3: suppolished on Ton, right because Ton essentially is Telegram terms
• 24:07
  Speaker 3: a user base, and that's a distribution angle. But the
• 24:10
  Speaker 3: second one, I would say, oh, the rest of the
• 24:12
  Speaker 3: ecosystems that are out there. You know, first of all,
• 24:15
  Speaker 3: expect many more game projects to essentially become app chains
• 24:19
  Speaker 3: and game chains in and of itself that essentially interoperated
• 24:21
  Speaker 3: with others. We're actually going to see more and more fragmentation. That, however,
• 24:26
  Speaker 3: because of technology is like layer zero to the end
• 24:29
  Speaker 3: user actually may not even feel like they're playing a
• 24:32
  Speaker 3: different chain, but for the more portability compatibility reasons, is
• 24:38
  Speaker 3: more efficient to launch as an app chain as it were. Right, So,
• 24:42
  Speaker 3: I think that trend is beginning, and you see developments,
• 24:44
  Speaker 3: you know, whether it's Polygon going in that direction, you know,
• 24:47
  Speaker 3: in terms of their deployments of stuff for instance, or
• 24:49
  Speaker 3: when you look at things for instance, it's happening you
• 24:52
  Speaker 3: know across you know L three's that are being deployed.
• 24:54
  Speaker 3: Those are part of those strategies as well. But in
• 24:57
  Speaker 3: terms of gaming chains today with you know, pure gaming
• 24:59
  Speaker 3: activity clearly you know, grown in you know obviously and
• 25:04
  Speaker 3: of course immutable as well. Both of them are in
• 25:06
  Speaker 3: our portfolio, are doing quite well. But then we shouldn't forget,
• 25:09
  Speaker 3: for instance, that also you know, new blockchains like Suede
• 25:12
  Speaker 3: and aptos are actually doing quite a bit in gaming
• 25:15
  Speaker 3: as well, and so growing that as well. It's but
• 25:18
  Speaker 3: it is to say that it kind of you know,
• 25:20
  Speaker 3: the gaming change in and of itself aren't the enabler
• 25:23
  Speaker 3: of the game. That's the point. It's the games that
• 25:26
  Speaker 3: enable the chains. If the game is popular, they make
• 25:30
  Speaker 3: the chain.
• 25:30
  Speaker 1: Writing on the Avalanche chain, how would you rate that
• 25:33
  Speaker 1: chain or that game? Off the Grid and it's rollout
• 25:36
  Speaker 1: so far, your opinion absolutely excellent.
• 25:39
  Speaker 3: Yes, it's been an absolutely excellent launch. You know, again,
• 25:42
  Speaker 3: just to disclose, we're earlier investors in Off the Grid
• 25:46
  Speaker 3: and very supportive. So you know, Gonzilla is a studio
• 25:49
  Speaker 3: that you know, our teams have been working with closely.
• 25:52
  Speaker 3: So and again you know, I would say, you know,
• 25:56
  Speaker 3: I would say in this case, Off the Grid isn't
• 25:59
  Speaker 3: making making making the game chain as it were, it's
• 26:03
  Speaker 3: making it's it's it's it's making them a gaming chain
• 26:07
  Speaker 3: as opposed to you know, the technology in and of itself,
• 26:10
  Speaker 3: the fact that it can scale support it. That's all good, right,
• 26:13
  Speaker 3: But you know, I would argue that there's many other
• 26:16
  Speaker 3: chains out there that can also scale to what Off
• 26:18
  Speaker 3: the Grid needed, Right. But essentially it's a great use
• 26:22
  Speaker 3: case and it's also an important one, and I think
• 26:25
  Speaker 3: it's going to help many other companies start looking at
• 26:27
  Speaker 3: the same options. I do believe that Gonzilla's success, and
• 26:30
  Speaker 3: I hope that off the Grid will really knock it
• 26:33
  Speaker 3: out of the park. What's it? Going full commercial is
• 26:35
  Speaker 3: going to potentially herald the next sort of Web three
• 26:39
  Speaker 3: sort of sort of gaming attention. Certainly, certainly that's a
• 26:42
  Speaker 3: hope of ours. I mean, we have another one hundred
• 26:44
  Speaker 3: and sixty gaming companies out there that are about to launch,
• 26:47
  Speaker 3: so we're certainly not placing all our bets on just
• 26:50
  Speaker 3: a few of them. But the point is that we're
• 26:52
  Speaker 3: very hopeful that this one could be really big one.
• 26:54
  Speaker 1: Well, when you say one hundred and sixty gaming companies
• 26:56
  Speaker 1: about the launch, I mean that to me is super
• 26:58
  Speaker 1: bullish for gaming the ecosystem in general, because it just
• 27:02
  Speaker 1: shows the amount of attention that the devs are throwing.
• 27:05
  Speaker 3: At this, So that's awesome, That's right.
• 27:07
  Speaker 1: All right, Let's jump over to Social because Social has
• 27:09
  Speaker 1: been one that has been kind of on the front
• 27:12
  Speaker 1: line of can we see a Web three evolution occur
• 27:16
  Speaker 1: with Social? One of the things I want to hit
• 27:18
  Speaker 1: on specifically is this right here, and that is that
• 27:22
  Speaker 1: TikTok's ban potentially is only fifty three days away. You
• 27:26
  Speaker 1: look at the potential of other platforms like blue Sky,
• 27:29
  Speaker 1: which is on an absolute growth path right now, whether
• 27:33
  Speaker 1: you see people defecting or just using blue Sky and
• 27:37
  Speaker 1: x at the same time. When you look at that
• 27:40
  Speaker 1: kind of growth, and also just the strategic step situation
• 27:44
  Speaker 1: that's starting to play out with TikTok, which we could see,
• 27:48
  Speaker 1: you know, a blockchain actually be involved in TikTok if
• 27:51
  Speaker 1: there is an acquisition done, right, What are your thoughts
• 27:54
  Speaker 1: on how this plays out within social and will blockchain
• 27:58
  Speaker 1: be a big part of this.
• 28:00
  Speaker 3: A massive part? I think. One of the things is
• 28:03
  Speaker 3: people are still trying to figure out what's the best
• 28:04
  Speaker 3: approach because you know, some of the earlier executions, you know,
• 28:08
  Speaker 3: like Friant Tech for instance, have sort of demonstrated that
• 28:12
  Speaker 3: if you make it too financial in nature, it starts
• 28:16
  Speaker 3: to have certain characteristics. And by the way, you know,
• 28:19
  Speaker 3: obviously you know the very short lived, at these temporarily
• 28:23
  Speaker 3: short lived sort of live stream experiment that we saw
• 28:25
  Speaker 3: with pumped out fun effectively that you could argue is
• 28:29
  Speaker 3: certainly another demonstration of what happens when you sort of
• 28:33
  Speaker 3: integrate sort of things like tokenization of live streams. It
• 28:38
  Speaker 3: was just kind of TikTok in nature, for instance, and
• 28:40
  Speaker 3: what happens and the reveal that took place, and you know,
• 28:43
  Speaker 3: obviously you know they had taken it down right now,
• 28:46
  Speaker 3: you know, doing the right thing, making sure that you know,
• 28:48
  Speaker 3: basically you know, the kind of stuff that was happening
• 28:51
  Speaker 3: there doesn't happen again, because it was getting pretty scary.
• 28:54
  Speaker 3: I would say, in some cases our approach and our
• 28:56
  Speaker 3: belief and I don't think anyone's yet doing it that way,
• 28:59
  Speaker 3: and so experimenting with muchaverse is aroun How do you
• 29:02
  Speaker 3: build a social network that focuses strongly more on reputation, which,
• 29:07
  Speaker 3: of course money can help deliver, but isn't the end gate.
• 29:11
  Speaker 1: It's going to maybe lure them in from a reputation standpoint,
• 29:15
  Speaker 1: versus trying to do some of these crazy things that
• 29:18
  Speaker 1: we saw within pumped out fund, which is really just
• 29:20
  Speaker 1: more degenerate, you know, scenarios. I want to touch on
• 29:24
  Speaker 1: one more point. We were doing a little research out there,
• 29:27
  Speaker 1: and of course part of this is stable coin issuers
• 29:30
  Speaker 1: over from the Hong Kong Monetary Authority, and we saw
• 29:34
  Speaker 1: sandbox participants right here. What are you guys up to here?
• 29:38
  Speaker 1: Can you tell.
• 29:39
  Speaker 3: Me what's going on? Yeah? So, I mean, first of all,
• 29:44
  Speaker 3: it's fair to say that stable coins are obviously a
• 29:47
  Speaker 3: very important business for mass adoption because that and so
• 29:51
  Speaker 3: you know, while I'm not at liberty to discuss all
• 29:54
  Speaker 3: the details around that. As you can see, it's a
• 29:56
  Speaker 3: partnership between US Standard Art and PCW. For those of
• 29:59
  Speaker 3: you don't know, Standard Chartered is you know, actually one
• 30:03
  Speaker 3: of the note issuing banks in Hong Kong. So when
• 30:05
  Speaker 3: you actually get like a like a like a dollar,
• 30:08
  Speaker 3: I don't have a Hong Kong dollar currency with me,
• 30:10
  Speaker 3: but if you actually got to see it, you'll see
• 30:12
  Speaker 3: issued by a Standard Chartered on it. Right, So that's
• 30:16
  Speaker 3: kind of one one point. And then PCGW is essentially
• 30:19
  Speaker 3: the incumbent Telco of Hong Kong, right, and so doing
• 30:23
  Speaker 3: that together, you know, with them is important to certainly
• 30:26
  Speaker 3: launch a really important stable coin initiative which again will
• 30:30
  Speaker 3: help mass adoption again. And you know, this isn't really
• 30:33
  Speaker 3: a statement. We're not thinking about the stable coin only
• 30:35
  Speaker 3: specifically for Hong Kong. It's basically one that we want
• 30:38
  Speaker 3: to help sort of address to the rest of the world.
• 30:41
  Speaker 3: And also because of our portfolio and the networks and
• 30:44
  Speaker 3: and of course the you know, it's another element of
• 30:46
  Speaker 3: our sort of effort to bring more institutionalization into the
• 30:49
  Speaker 3: space as we're seeing things with bitcoin, ETFs and so on.
• 30:53
  Speaker 3: But yeah, we're very excited about it, not at liberty
• 30:56
  Speaker 3: to discuss all the details. It is a partnership between
• 30:58
  Speaker 3: you know, basically US and two other very high profile partners,
• 31:02
  Speaker 3: so we'd be but stay tuned, is all I could say.
• 31:06
  Speaker 1: Okay, we'll good, We're going to be watching. That last
• 31:08
  Speaker 1: question for you, you look at the growth of the ETFs
• 31:12
  Speaker 1: within here in the US, the likelihood of having a
• 31:15
  Speaker 1: much looser regulatory environment. Could we see something like a
• 31:19
  Speaker 1: gaming ETF or possibly something in the web three space
• 31:23
  Speaker 1: starting to develop very soon, maybe in twenty twenty five
• 31:27
  Speaker 1: or twenty twenty six. What's your anticipation for that.
• 31:29
  Speaker 3: You know, I mean expect to be seeing you know,
• 31:32
  Speaker 3: a Solana ETF, you know, for instance, expecting basically companies
• 31:36
  Speaker 3: to try to propose basically staking rewards on ethereum to
• 31:40
  Speaker 3: be essentially sort of you know, yield generating ETFs coming
• 31:43
  Speaker 3: out as well. Right, And of course gaming baskets, I
• 31:46
  Speaker 3: mean are going to happen, metaverse baskets and maybe possibly
• 31:51
  Speaker 3: I think that'll be a little further out, just because
• 31:53
  Speaker 3: it's a little bit more dicey, but you know, we
• 31:55
  Speaker 3: would be expecting even meme coins to fall into those
• 31:57
  Speaker 3: categories at some point, probably a little down the road, right,
• 32:01
  Speaker 3: But there's going to be a whole categorism that's you know,
• 32:03
  Speaker 3: infrastructure plays as well. So yes, I do expect a
• 32:06
  Speaker 3: lot more of them. But I also think that there's
• 32:08
  Speaker 3: going to be you know, like if you look at
• 32:10
  Speaker 3: the micro strategy strategy, a lot of companies are now
• 32:12
  Speaker 3: emulating that and saying, hey, we've got bitcoin on our balergiet, right,
• 32:15
  Speaker 3: and then you see companies starting and say, hey, we're
• 32:17
  Speaker 3: focusing on Solana. We're kind of like the micro strategy
• 32:19
  Speaker 3: of Salana for instance, right, Yeah, and you're going to
• 32:21
  Speaker 3: see that happening with ton and so you see versions
• 32:23
  Speaker 3: of this, right, and I think for for Animoka itself
• 32:26
  Speaker 3: as well. That's kind of you know, we're not one ecosystem,
• 32:29
  Speaker 3: but we're kind of sort of the we you know,
• 32:32
  Speaker 3: we were. I was at a conference and someone described
• 32:34
  Speaker 3: Animoka as the beta for bitcoin kind of thing, right,
• 32:36
  Speaker 3: which is kind of saying you can go buy your
• 32:38
  Speaker 3: bitcoin ETFs, but if you was to basically want to
• 32:41
  Speaker 3: sort of look at having alternative out coins and gaming
• 32:44
  Speaker 3: and general web free basket of things, you know, with
• 32:47
  Speaker 3: with you know, the hundreds of tokens in our portfolio
• 32:50
  Speaker 3: and the growth that we've seen in the business, then
• 32:52
  Speaker 3: you know you need to have a little bit of
• 32:53
  Speaker 3: animok as well. And that's also one of the reasons why,
• 32:56
  Speaker 3: as if you've seen in the media, we started looking
• 32:57
  Speaker 3: more seriously into basically IPO paths and so because again, right,
• 33:01
  Speaker 3: you know, those are areas again that we think that
• 33:03
  Speaker 3: we can fulfill in the market, because because I think
• 33:06
  Speaker 3: the market is getting ready for that in a kind
• 33:09
  Speaker 3: of sort of I guess, you know, micro strategy kind
• 33:11
  Speaker 3: of way, but not obviously on bitcoin, but essentially on
• 33:13
  Speaker 3: the rest of the space. So whether this is ets,
• 33:16
  Speaker 3: whether this is public companies, whether this is private companies
• 33:19
  Speaker 3: that have the stock floated, or maybe even tokenized securities.
• 33:23
  Speaker 3: In the future, I think these are all going to happen,
• 33:25
  Speaker 3: and I think we'll see a lot of exciting things
• 33:27
  Speaker 3: happening in that space actually in the year to come.
• 33:30
  Speaker 1: A lot of what we're seeing now within millennials and
• 33:32
  Speaker 1: even gen Z to a certain extent, they're investing habits
• 33:36
  Speaker 1: and most of I was just looking at a report
• 33:38
  Speaker 1: the other day by JP Morgan, and it was showing
• 33:40
  Speaker 1: the amount investors of investors under the age of thirty
• 33:44
  Speaker 1: and how much their asset allocation was trend intoward digital.
• 33:47
  Speaker 1: It was dramatic in comparison. So to me, it feels
• 33:51
  Speaker 1: like there's going to just absolutely be a switch that's
• 33:54
  Speaker 1: going to happen at some point in the near future
• 33:57
  Speaker 1: where digital assets just become the no for, you know,
• 34:01
  Speaker 1: an investment strategy going forward. So I would totally agree
• 34:04
  Speaker 1: it is.
• 34:05
  Speaker 3: But yeah, it is. But also it's the one that
• 34:08
  Speaker 3: they understand best and it's one that they feel native on.
• 34:11
  Speaker 3: And by the way, that's not that different from technology
• 34:13
  Speaker 3: stocks back in the nineties exactly. It's the boomers and
• 34:16
  Speaker 3: older that were like, what what is Amazon? And why
• 34:19
  Speaker 3: should I be buying my Like like why should we
• 34:21
  Speaker 3: look at Google? Like, I don't get it. It's not tangible,
• 34:25
  Speaker 3: I can't touch it, right, you know, it doesn't mean anything.
• 34:28
  Speaker 3: And then of course the people who did understand it,
• 34:30
  Speaker 3: or who were using the products, they ended up owning
• 34:32
  Speaker 3: these stocks, or they owned Apple products and they bought
• 34:35
  Speaker 3: Apple stock for instance, and look at them today. Right,
• 34:37
  Speaker 3: So it's kind of exactly the same thing. It's it's
• 34:40
  Speaker 3: we're going through the same cycle, you know, essentially with
• 34:43
  Speaker 3: with you know, new paradigms. But really, you know, I
• 34:46
  Speaker 3: think the famous Mark Twain code, right, being that you know,
• 34:50
  Speaker 3: sort of history may not repeat itself, but it certainly rhymes.
• 34:55
  Speaker 1: I like it on that note. Yeah, So it's been great.
• 34:58
  Speaker 1: Always enjoy having you on the show. Thank you so
• 35:00
  Speaker 1: much for stopping in today. We really appreciate it.
• 35:02
  Speaker 3: Thank you for having me.
• 35:03
  Speaker 1: All Right, so you guys are tuned in, maybe on
• 35:05
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• 35:07
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• 35:08
  Speaker 3: I'll be back in studio.
• 35:10
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• 35:14
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• 35:17
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