Latest / The Paul Barron Crypto Show / Could TikTok Move To Avalanche in 70 Days?🔥John Wu INTERVIEW🔺

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Could TikTok Move To Avalanche in 70 Days?🔥John Wu INTERVIEW🔺 · The Paul Barron Crypto Show

0:05
Speaker 1: All right, guys, let's dive into Avalanche. We're going to
0:08
Speaker 1: do a little bit of a deep dive I think
0:10
Speaker 1: for you guys today to understand maybe where Avalanche is
0:13
Speaker 1: heading from a strategy standpoint, but also get into some
0:16
Speaker 1: of the big events that of course recently happened.
0:19
Speaker 2: You guys love it.
0:20
Speaker 1: My name is Paul Barrel, Welcome back in the tech path.
0:22
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Speaker 1: does help the channel. Just as you guys know, we
0:46
Speaker 1: do a lot of research on projects and Avalanche is
0:50
Speaker 1: one of our staples that is in our research team's
0:54
Speaker 1: bullseye out there. And as you guys probably remember, we've
0:58
Speaker 1: done a couple of analysis of where we think some
1:01
Speaker 1: strategies are moving. We looked at TikTok moving to Polka Dot,
1:04
Speaker 1: and we say moving to Polka Dot. Mainly it's been
1:07
Speaker 1: around Project Liberty. Everybody understands where Project Liberty has been
1:11
Speaker 1: because remember they were the company that is looking to
1:14
Speaker 1: possibly go in on an acquisition because of the potential ban,
1:18
Speaker 1: well the ban that's coming here in the US, and
1:21
Speaker 1: that was one of the key things that we've been
1:23
Speaker 1: tracking along. Now there are some changes that are starting
1:26
Speaker 1: to occur, and I want to cut to a clip
1:28
Speaker 1: before we bring in our guest, John Wu. Let's go
1:31
Speaker 1: to this clip.
1:32
Speaker 2: You were the chairman and CEO of MySpace. Now you're
1:37
Speaker 2: chairman and CEO of me Wei Me.
1:40
Speaker 3: We has twenty million, six hundred and twenty thousand users already.
1:45
Speaker 3: We're part of something called Project Liberty. Steve Wozniak is
1:49
Speaker 3: an advisor. We have Sir Tim berners Lee. That was
1:52
Speaker 3: mentioned yesterday by.
1:53
Speaker 2: John why Allvalanche.
1:56
Speaker 3: So what we did was we took a look at
1:59
Speaker 3: I would say fifteen different of the top chains that existed.
2:03
Speaker 3: I don't care if it was Arbitrum, Base Near Technology, Solano, etc.
2:09
Speaker 3: So we had to have something fast and cost effective.
2:12
Speaker 3: And their solution just really takes care of it, and
2:15
Speaker 3: even more important really good people and the support and
2:19
Speaker 3: so forth. So we're really excited to be a part
2:21
Speaker 3: of Avalanche.
2:22
Speaker 2: Is this the big announcement and are you're going to
2:24
Speaker 2: start getting more people aware of what you're doing?
2:26
Speaker 3: This is I could say this Lens protocol far Caster.
2:32
Speaker 3: We're bigger than them together and people don't even know me.
2:36
Speaker 3: We under the radar, quiet, no marketing, all organic, it's
2:41
Speaker 3: all part of a movement. Once we have our l
2:43
Speaker 3: one in place and we have our tokenomics in place,
2:47
Speaker 3: which will be first sort of like a reward system
2:50
Speaker 3: that will convert into tokens. Once that's in place, hopefully
2:54
Speaker 3: in the next six months. That's the plan, although I
2:56
Speaker 3: know we can turn an l one up in two seconds.
2:59
Speaker 3: Then the plan is is to go out with a
3:01
Speaker 3: full push marketing effort to try to bring in masses
3:04
Speaker 3: of people to see what we're trying to do.
3:07
Speaker 1: All right, So you saw some of the breaking news
3:09
Speaker 1: out of the event there at the La tamp summit
3:12
Speaker 1: for Avalanche. I want to of course invite in John
3:15
Speaker 1: Wu coming in from Ava Labs. How are you John.
3:18
Speaker 1: Nice to see you, Paul.
3:20
Speaker 2: It's always nice to see you, and thank you so
3:22
Speaker 2: much for sharing some of those clips.
3:24
Speaker 1: When you look at that in itself and where Project
3:28
Speaker 1: Liberty is tied into what MiWi is doing, would you
3:32
Speaker 1: say that Project Liberty is starting to move in the
3:35
Speaker 1: direction of coming onto the avax ecosystem.
3:40
Speaker 2: Obviously that's something for Project Liberty to answer. But Ava Labs,
3:45
Speaker 2: which helps is a software service company that help people
3:48
Speaker 2: integrate into Avalanche, has repeatedly seen companies move over to
3:55
Speaker 2: Avalanche for the reasons that Jeff talked about, the beauty
4:01
Speaker 2: of the elegance and the beauty of the technology, the
4:04
Speaker 2: ability to have your own Layer one. This is why
4:06
Speaker 2: we rebranded subnets to l one because it's a self
4:10
Speaker 2: sovereign blockchain that each application developer has. When you can
4:13
Speaker 2: develop an application on top of your own L one,
4:17
Speaker 2: it gives you so much flexible you can customize it,
4:20
Speaker 2: and you can take advantage of the composable technology. About
4:23
Speaker 2: three all at the same time. It's fantastic really, So
4:26
Speaker 2: to answer your question directly, we'll see, I hope so,
4:29
Speaker 2: but one step at a time. What's more important is
4:32
Speaker 2: I think a key point here is and you're talking
4:34
Speaker 2: about social networking on web three, so there is also me.
4:40
Speaker 2: We is fantastic, and I think people forget that they
4:42
Speaker 2: have over twenty million real users, so it's a it's
4:46
Speaker 2: a you know, web two social networking platform. Privacy first
4:50
Speaker 2: was always the mission for them. It's not not growing,
4:53
Speaker 2: so people need to know that although it's not Facebook
4:56
Speaker 2: three billion plus users, it's got a steady group of
5:00
Speaker 2: users and communities. And to migrate literally over one point
5:04
Speaker 2: five million monthly active or daily active users onto the
5:08
Speaker 2: Avalanche L one network is incredible. Feet these crossover plays
5:14
Speaker 2: call it will ultimately lead to more users and more
5:18
Speaker 2: TVL in the long run. But in the crypto Native
5:22
Speaker 2: sandbox and novel asim, one of the things we're known
5:25
Speaker 2: for is being helping crypto native as well as helping
5:27
Speaker 2: the crossover enterprises and trafify. The Crypto Native also has
5:31
Speaker 2: great social networking related companies on Avalanche as well. There's
5:36
Speaker 2: one called stars Arena. Now they have over two hundred
5:39
Speaker 2: and ten thousand registered users for a native one, that
5:43
Speaker 2: is a pretty big number and there's millions of tickets
5:46
Speaker 2: being bought and sold here, so therefore there's actually a
5:49
Speaker 2: real revenue for Stars Arena as well. So it's like
5:52
Speaker 2: you have the crypto native, creating great experimentation and new
5:55
Speaker 2: use cases using blockchain, and then the crossover players see
5:59
Speaker 2: the best benefits and now are bringing their users over.
6:02
Speaker 2: It's pretty exciting and it's happening in every vertical. Well.
6:06
Speaker 1: I think the key here that everybody's looking at is
6:08
Speaker 1: really only seventy one days away for the TikTok band,
6:12
Speaker 1: which is traditional social media that is now potentially going
6:15
Speaker 1: to get displaced. And we know that Project Liberty is
6:18
Speaker 1: one of the companies that is vying to get access
6:21
Speaker 1: to Byteedance's US operations and potentially if Byteedance does go
6:26
Speaker 1: through a divestiture. If they do, then Project Liberty could
6:30
Speaker 1: be one of the key leaders there. And they're very
6:32
Speaker 1: blockchain forward. They've already proven that with me. We've already
6:36
Speaker 1: seen some of their strategies around what's going on with
6:39
Speaker 1: Polka Dot. But we've also seen the alignment now of
6:42
Speaker 1: what has happened since last year when Project Liberty was
6:46
Speaker 1: looking at that to what is happening now with Avalanche
6:49
Speaker 1: with the l ones getting launched, which of course is
6:51
Speaker 1: a big deal. With that being said, I want to
6:54
Speaker 1: play a clip for you because this is where some
6:57
Speaker 1: people are already starting to prep for this.
7:00
Speaker 4: Look what would happen come January nineteenth? Would the app
7:03
Speaker 4: just disappear from People's show?
7:05
Speaker 5: So yeah, no, as I mentioned, yeah it would. You
7:07
Speaker 5: would still be able to have it on your phone.
7:08
Speaker 5: But let's just say you bought a brand new phone.
7:10
Speaker 5: You wouldn't be able to download it from the app
7:12
Speaker 5: store and be completely gone from the app store, So
7:14
Speaker 5: you'd have to keep that same phone for as long
7:16
Speaker 5: as possible. You'd have to have a VPN to keep
7:19
Speaker 5: it going.
7:19
Speaker 6: Got it?
7:19
Speaker 4: What do you think about even setting up like multiple phones?
7:22
Speaker 7: Yeah, well that's actually what I kind of do right now.
7:24
Speaker 7: But I also have TikTok downloaded on every single device
7:27
Speaker 7: of mine just in case they do ban that I
7:29
Speaker 7: can have access like for a while.
7:30
Speaker 1: You are ready.
7:32
Speaker 7: There's millions of business owners that make money every single
7:36
Speaker 7: day selling whether it's they're products or services. It is
7:39
Speaker 7: very detrimental to a lot of people in the US.
7:42
Speaker 4: Well, if TikTok goes away, then just get on Instagram
7:45
Speaker 4: or YouTube or Facebook or somewhere else. But the audience
7:47
Speaker 4: doesn't necessarily translate, does it for me?
7:50
Speaker 7: I have like, let's say, five hundred thousand followers on TikTok.
7:52
Speaker 7: I only have thirty thousand on Instagram, which tells you
7:55
Speaker 7: that my content or who I am, people love it
7:58
Speaker 7: a little bit more over on tip talk than they
8:00
Speaker 7: do on Instagram.
8:01
Speaker 4: Do you have a message for lawmakers?
8:03
Speaker 7: I mean, I understand the threat of national security, but
8:06
Speaker 7: they really just leave it alone.
8:07
Speaker 2: Just leave us alone.
8:08
Speaker 4: Yeah, find a way to keep us safe, but also
8:10
Speaker 4: leave it. Leave it alone in some ways.
8:12
Speaker 1: Right that seven million businesses on these kinds of social media,
8:16
Speaker 1: that's insane, and the amount of transactions. I can only
8:20
Speaker 1: believe that if that were to go to a blockchain,
8:23
Speaker 1: it'd have to end up being on Avalanche in some capacity.
8:26
Speaker 1: At some point.
8:27
Speaker 2: You look at Canada, you would need to scale and
8:29
Speaker 2: you would need speed, and doing it in the Avalanche
8:32
Speaker 2: network of networks is the easiest way and most efficient
8:35
Speaker 2: way to do that.
8:36
Speaker 1: Yeah. For sure, when you look at Canada, they're shutting
8:38
Speaker 1: down their offices there, which again this gets back into
8:41
Speaker 1: the security risk. I think it's going to happen, even
8:44
Speaker 1: with the new administration coming in. I think the likelihood
8:47
Speaker 1: is we will see a band at least in the
8:48
Speaker 1: US of not using it, but being able to download it,
8:52
Speaker 1: and I think that's going to be a big factor
8:54
Speaker 1: going forward, So I'm really interested in how this is
8:56
Speaker 1: going to play out.
8:57
Speaker 2: Listen.
8:58
Speaker 1: I want to move on to the the Ticketmaster issue
9:01
Speaker 1: that has been happening, and there's there's been a lot
9:04
Speaker 1: of issues that have occurred over some of the security
9:08
Speaker 1: breaches with Ticketmaster, and I want to play a clip
9:11
Speaker 1: because this gets into a little bit closer to home
9:14
Speaker 1: for most people out there that buy tickets.
9:16
Speaker 2: Take a look.
9:17
Speaker 8: Ticketmaster says there's been a data breach.
9:19
Speaker 9: What happened here exactly.
9:21
Speaker 8: Involves a third party database and unfortunately, it also involves
9:24
Speaker 8: the personal information of Ticketmaster customers. That's just a few
9:27
Speaker 8: days after we heard about another major Ticketmaster breach involving
9:32
Speaker 8: hackers who claimed that they had accessed the user information
9:36
Speaker 8: of about five hundred million customers.
9:38
Speaker 6: They say tickets for concerts and events are being stolen
9:41
Speaker 6: right out of their accounts, and it all started after
9:43
Speaker 6: the company suffered a data breach earlier this year. Two
9:46
Speaker 6: weeks ago, Brenda got an email that her tickets were
9:49
Speaker 6: being transferred even though she didn't authorize it.
9:51
Speaker 9: I was like, my tickets are gone.
9:53
Speaker 6: This demorrist mom tells us. The same thing happened to her.
9:56
Speaker 2: And people are turning to CBS whos Philadelphia after their
9:59
Speaker 2: tickets were stolen right from their Ticketmaster accounts.
10:02
Speaker 5: Concert tickets continue to disappear, and our viewers are starting
10:06
Speaker 5: to reach out to US.
10:07
Speaker 6: From Philadelphia to Chicago, Minneapolis, Atlanta, and San Diego are
10:12
Speaker 6: reporting the same problem with Ticketmaster, but it told customers
10:16
Speaker 6: that all accounts were secure and passwords were not compromised.
10:20
Speaker 10: So I have been trying to get answers since yesterday.
10:22
Speaker 10: It is unclear how big this problem is.
10:24
Speaker 7: That the company blamed the ticket theft on weak customer passwords.
10:29
Speaker 10: I do have good news so since we called Ticketmaster,
10:32
Speaker 10: one of the Eagles tickets have been recovered for Lisa,
10:35
Speaker 10: and Cara got her comedy tickets back book.
10:37
Speaker 7: Yeah good, I know that's what we get things done.
10:40
Speaker 10: I probably will never order off a ticket Master again.
10:43
Speaker 9: Still, she doesn't have an explanation yet from Ticketmaster, but
10:47
Speaker 9: why they never froze the tickets like they told her
10:49
Speaker 9: she was going to do. We should point out, though,
10:52
Speaker 9: that Ticketmaster does get a cut every time tickets are
10:55
Speaker 9: sold through their site.
10:56
Speaker 2: It just seems like something Shaney's going on.
10:58
Speaker 1: For sure, John, you and I both know blockchain fixes this,
11:03
Speaker 1: so it makes it kind of one of those things
11:05
Speaker 1: that's a no brainer for ticketing to kind of go
11:08
Speaker 1: in that direction.
11:09
Speaker 2: You clearly were even though you weren't physically in Argentina.
11:13
Speaker 2: You followed up on a lot of things, exciting things. Actually.
11:17
Speaker 2: So there's two issues over there. One is related to
11:20
Speaker 2: the ticketing space. We'll just put that in a corner
11:22
Speaker 2: for now. There's a meta macro thing, which is like
11:25
Speaker 2: in traditional security for single silo service. It could be
11:30
Speaker 2: any vertical there are these issues. Blockchain as a whole,
11:35
Speaker 2: you know, solves a lot of those for many verticals,
11:39
Speaker 2: but ticketing is particularly vulnerable for it to this because
11:44
Speaker 2: the security is really just not that great. And there
11:48
Speaker 2: is a company that's launching a platform on Avalanche called
11:52
Speaker 2: tick Space take Space, and they have actually been starting
11:56
Speaker 2: outside the US and they're addressing a lot of these
11:59
Speaker 2: issues use everywhere from Brazil to Turkey. So they're staying
12:03
Speaker 2: out of the US now because Ticketmaster is owned by
12:05
Speaker 2: Live Nation. Live Nation owns the event and promoting of stars,
12:09
Speaker 2: and then they own the primary issuance and really it's
12:12
Speaker 2: a very vertically integrated and monopolistic like industry in the US.
12:17
Speaker 2: The only difference is the secondary is owned by someone else,
12:20
Speaker 2: whereas the concert events all the way to the ticketing
12:23
Speaker 2: of it is owned by one company. So tickspace is
12:26
Speaker 2: doing using the right licenses throughout the different demographics or
12:30
Speaker 2: different rules. They are providing more security and when you
12:33
Speaker 2: transfer tickets, it is the you know, blockchain allows you
12:38
Speaker 2: to know the provenance of the ticket as well as
12:41
Speaker 2: you know the authenticity of it. And this is a
12:44
Speaker 2: natural space for blockchain and web three and it takes
12:48
Speaker 2: space on a l one at Avalanche is the natural
12:51
Speaker 2: place because you need to be ready for call it,
12:54
Speaker 2: you know, spike activity during before concert, big event, and
12:58
Speaker 2: it's perfect for Avalanche.
13:00
Speaker 1: I want to play a clip from your event. And
13:03
Speaker 1: this was talking about Sports Illustrated. Let's take a look.
13:07
Speaker 7: Summit and I know Sports Illustrated Tickets was previously I'm
13:10
Speaker 7: pully gone.
13:11
Speaker 2: Why did you make the switch?
13:13
Speaker 11: What the capability of an NFT can do for something
13:16
Speaker 11: that was truly in our trash bin? It changes consumer behavior, validation, security, transferability, loyalty,
13:23
Speaker 11: those are the basics you're going to see that every day.
13:26
Speaker 11: The strength of being on chain in a ticketing ecosystem,
13:29
Speaker 11: which is one of the biggest opportunities globally on a
13:32
Speaker 11: use case for an on chain infrastructure. This is our partner.
13:37
Speaker 11: Avalanche is the best for us to be able to
13:41
Speaker 11: move us forward as fast as possible.
13:43
Speaker 1: Sports Illustrated course, I think is one of the validating
13:46
Speaker 1: points that you're getting at here, and that is the
13:49
Speaker 1: ability to really start to execute on the ticketing ecosystem,
13:53
Speaker 1: because this is huge. It's beyond just concert tickets. You
13:55
Speaker 1: could get in to travel, all sorts of things that
13:58
Speaker 1: really apply and would require this kind of security level.
14:02
Speaker 1: Are you guys talking with others that are looking at
14:05
Speaker 1: what they're doing and saying, hey, maybe we need to
14:07
Speaker 1: start considering Avalanche to take our ticketing systems over to it.
14:12
Speaker 2: Absolutely well. In that clip, it was focused on ticketing,
14:18
Speaker 2: but he did mention many other aspects that a Web
14:21
Speaker 2: three environment allows you to do, from loyalty, rewards and
14:23
Speaker 2: all of that stuff embedded into a ticketing NFT structure.
14:27
Speaker 2: The NFT structure gives you prominence, authenticity and security of
14:31
Speaker 2: that ticket, but the Web three construct allows it to
14:36
Speaker 2: be traded easier but with authenticity. And also he talked
14:39
Speaker 2: about embedding user habits and increasing engagement with you know,
14:45
Speaker 2: basically Web three ethos of loyalty and royalty. So we
14:49
Speaker 2: just actually announced up Top, which is basically a loyalty
14:52
Speaker 2: royalty program for the Cleveland Cavaliers basketball team, and they're
14:58
Speaker 2: going to create a loyalty royalty for their users to
15:02
Speaker 2: further enhance the engagement of their fans and make them
15:06
Speaker 2: part of the community of the Cavaliers even tighter. There's
15:10
Speaker 2: another one, TYB, which is basically a loyalty reward program.
15:15
Speaker 2: They have customers like Urban Outfitters, they have glasser, they
15:19
Speaker 2: have rare beauty, and they've already shown by putting it
15:22
Speaker 2: in a streamline, blockchain enabled matter, not only do you
15:26
Speaker 2: have lower costs to provide loyalty royalty programs, but it
15:32
Speaker 2: gives the users more of ability to basically engage because
15:36
Speaker 2: they feel like they own their assets more, and it's
15:39
Speaker 2: they suddenly adopt an ethos that is like, Okay, if
15:42
Speaker 2: I own this more, I can trade it, I can
15:44
Speaker 2: use it more if I am promoting it on my tweet,
15:47
Speaker 2: and I can get a better reward or faster award.
15:51
Speaker 2: So the company TYB has actually shown that they have
15:54
Speaker 2: increased usage of their customers for the brands by fifteen
15:58
Speaker 2: twenty percent and also spend similarly.
16:01
Speaker 1: Yeah, we've covered the TYB group and really what she's
16:05
Speaker 1: been able to do over there very innovative, I think
16:08
Speaker 1: in that sense. And you look at what you're talking
16:11
Speaker 1: about with the Cleveland Cavaliers. This is interesting because if
16:14
Speaker 1: you look at the l one architecture within Avalanche, I
16:16
Speaker 1: think of this like every NFL team could have their
16:19
Speaker 1: own l one for ticketing because many of them run
16:22
Speaker 1: their own fan shops and all that kind of stuff.
16:25
Speaker 1: Right now, you look at loyalty integration, trying to bring
16:28
Speaker 1: in merch NFT collectibles, all that would just be in
16:32
Speaker 1: one nice package, which I think Avalanche would be a
16:35
Speaker 1: good fit for. I want to play a clip here
16:37
Speaker 1: because this is a potential test that's moving in and
16:41
Speaker 1: I think people will get a better idea of how
16:43
Speaker 1: this is working. Take a look.
16:45
Speaker 12: Sure, and I'm really struggling. A lot of our work
16:47
Speaker 12: is under NDA at the moment. I wasn't really going
16:49
Speaker 12: to talk about this, but it's the only thing I
16:51
Speaker 12: can think of, so I'm going to talk about it.
16:52
Speaker 12: We're right in the middle of a project at the moment,
16:54
Speaker 12: which was ten days ago, So we saw the tour
16:57
Speaker 12: out ten days ago and the tour actually starts on
16:59
Speaker 12: Wednesday night next week. But the artist is so brought
17:01
Speaker 12: into this and double down that they've taken one hundred
17:04
Speaker 12: thousand NFC enabled wristbands from US, which will be distributed
17:09
Speaker 12: general admission to everybody that's going to the tour. So
17:12
Speaker 12: we're going to start to build a full data picture
17:14
Speaker 12: of who are the fans, how have they been engaging
17:16
Speaker 12: with our platform, what content have they been consuming, what
17:19
Speaker 12: competitions did they enter? Each fan could buy four tickets,
17:23
Speaker 12: so now we're going to build the data picture of well,
17:24
Speaker 12: who do they bring with them? Because these fans are
17:27
Speaker 12: so passionate about Zane it's zaying from one direction that
17:32
Speaker 12: they're going to engage with our platform. At his last
17:34
Speaker 12: live event, we had ninety eight percent data conversion, So
17:38
Speaker 12: we're going to have this for the first time ever
17:40
Speaker 12: for an artist, a complete picture from a tour across UK,
17:45
Speaker 12: US and Europe of who his fans are.
17:48
Speaker 1: That's amazing, So a good example of how that's being executed.
17:52
Speaker 1: You know, with an individual artist, and you look at
17:55
Speaker 1: that John, you look at now you're l one's which
17:59
Speaker 1: are stacking up on the test nets like crazy, and
18:02
Speaker 1: the opportunity here for this even if you look at
18:04
Speaker 1: your current active stats on the network, you've got everything
18:08
Speaker 1: in there from cloud Verse, Beam is in there with
18:11
Speaker 1: the gaming side of things, a whole slew of these
18:14
Speaker 1: when you look at that, and the potential of being
18:16
Speaker 1: able to get costs down, because this is where we
18:18
Speaker 1: get into kind of the ACP seventy seven scenario. First
18:23
Speaker 1: of all, when will that occur to start to really
18:26
Speaker 1: reduce costs so that you can have a lot more
18:28
Speaker 1: of these projects launching on these subnets one.
18:34
Speaker 2: So I think you highlight it. Thank you for showing
18:36
Speaker 2: that dashboard, if you will. I think it's important to
18:40
Speaker 2: answer the when with like understanding that there's like I
18:43
Speaker 2: think over one hundred and thirty plus of these call
18:45
Speaker 2: it test nets launching now ones in some capacity, and
18:49
Speaker 2: a lot of these that you've highlighted are traditional businesses
18:53
Speaker 2: have massive consumer brands, so they take their time. They
18:56
Speaker 2: need to get it right. They don't just go to
18:58
Speaker 2: market before the product is really product market fit, so
19:01
Speaker 2: to speak. And these I anticipate are going to go
19:05
Speaker 2: MAInet a lot of them. There's going to be an
19:07
Speaker 2: explosion of that one thirty plus going on MAInet within
19:11
Speaker 2: the next six months. So in twenty twenty five, a
19:14
Speaker 2: lot of them will go on MAInet, even though right
19:17
Speaker 2: now they are very active and some of them are
19:19
Speaker 2: you know, doing real business, but they just have to
19:22
Speaker 2: be in a test net environment.
19:23
Speaker 1: Yeah, well, okay, So I guess the key here will
19:26
Speaker 1: be I mean, because we're looking at launching a project,
19:29
Speaker 1: a web three project around media, and we're looking at
19:33
Speaker 1: Avalanche as running an L one within it. If you
19:37
Speaker 1: look at the pre upgrade versus Avalanche nine thousand, which
19:40
Speaker 1: you guys are running, you know, moving toward now with
19:43
Speaker 1: ACP seventy seven, this is going to be a huge
19:47
Speaker 1: reduction in cost to run on L one. So that
19:51
Speaker 1: I think is there is the real question when you
19:53
Speaker 1: look at these reduced cloud costs to be able to
19:55
Speaker 1: execute on this, which is going to bring in a
19:57
Speaker 1: lot of other projects and companies and all sorts of innovation.
20:01
Speaker 1: If costs can truly get down to that level, is
20:05
Speaker 1: that something that you're saying could be available in the
20:07
Speaker 1: next six months as well, or could that be even sooner?
20:09
Speaker 2: Yes? Absolutely so, I mean you're talking about a CP
20:12
Speaker 2: seventy seven. We're basically saying we're going to introduce the
20:15
Speaker 2: two thousand you know box taking down to a pay
20:18
Speaker 2: as you go model that is very doable for all
20:22
Speaker 2: these startups. And even if you are a pure call
20:26
Speaker 2: it crypto native web three types startup and you're like
20:29
Speaker 2: one man, you know, in some place with a great idea,
20:33
Speaker 2: there's also a retro nine thousand for grants to get
20:35
Speaker 2: you going for cloud costs and other costs and integration
20:38
Speaker 2: and the smaller costs. So all of that is happening,
20:43
Speaker 2: and I think you know you're going to see even more.
20:47
Speaker 2: It's good to do it now because these programs are available,
20:49
Speaker 2: So you're going to see far more explosion of these
20:52
Speaker 2: called it test net l ones into a main net
20:56
Speaker 2: l one.
20:56
Speaker 1: Soon, especially in the US now where we may get
21:00
Speaker 1: some friendly regulation around many of these blockchain projects, which
21:04
Speaker 1: will probably open up just an onslaught of innovation both
21:08
Speaker 1: in companies and jobs and all that kind of stuff
21:10
Speaker 1: as we see a new administration coming in for sure.
21:14
Speaker 1: So I think you guys are in the right place
21:15
Speaker 1: at the right time. I want to talk a little
21:17
Speaker 1: bit about gaming off the grid, of course, comes out
21:21
Speaker 1: hits the scene an absolute huge win. Now, granted it's
21:25
Speaker 1: still highly highly test level, I should say, because not
21:30
Speaker 1: everybody can go out and get it, so it's one
21:32
Speaker 1: of those things. But I want to play a little
21:34
Speaker 1: bit of a clip here. It goes into some of
21:36
Speaker 1: the data on what's happened with off the Grid tike
21:38
Speaker 1: a look on.
21:39
Speaker 13: October eighth, up until when the page streamer campaign started.
21:43
Speaker 13: Around October tenth, we saw twitch viewership surge by an
21:45
Speaker 13: impresive two hundred and sixty six percent, and can currently
21:49
Speaker 13: the enttream transactions jump by.
21:50
Speaker 2: It also two hundred and thirty nine percent.
21:52
Speaker 13: While Twitch viewership peete on October eleventh at one hundred
21:56
Speaker 13: and fifty four thousand viewers, the peak in game transactions
21:59
Speaker 13: didn't actually get reached until October fifteenth, when it hit
22:02
Speaker 13: four point five million transactions. We have seen a dramatic
22:05
Speaker 13: ninety three point three percent decline in Twitch viewership up
22:09
Speaker 13: until October twentieth, but the amount of channels that are
22:12
Speaker 13: actively still streaming the game have remained steady around three
22:14
Speaker 13: hundred and thirty three So this is suggesting Tess that
22:16
Speaker 13: the game activity didn't go away. Players are still actively
22:19
Speaker 13: playing into this day, and we see that on an
22:21
Speaker 13: average day to day basis that three point six million
22:24
Speaker 13: transactions are still reoccurring every day since that peak of
22:27
Speaker 13: October fifteen.
22:29
Speaker 1: Now remember that for all of you that are looking
22:31
Speaker 1: at Off the Grid, this is of course just looking
22:33
Speaker 1: at the Twitch directory. Here there's the example. They're down
22:37
Speaker 1: to three hundred and forty two viewers we are right now.
22:39
Speaker 1: Like they mentioned, there's still a lot of people out
22:41
Speaker 1: there playing, but this is not fully available, so it's
22:44
Speaker 1: not even out there to where an average person can
22:46
Speaker 1: even get to it. So that in itself is a
22:49
Speaker 1: big deal. But when you look at Off the Grid
22:51
Speaker 1: and what they were able to do in such a
22:52
Speaker 1: short period of time, I think it was a huge success.
22:55
Speaker 1: I mean, what were you guys's thoughts on the potentially.
23:00
Speaker 2: You're just talking about Twitch viewership moving up and down.
23:03
Speaker 2: There's many reasons for that. Besides, you know, whenever something
23:07
Speaker 2: new comes out, there's always a spike in viewership on anything.
23:11
Speaker 2: Take that aside. Just so your viewers know who don't know.
23:14
Speaker 2: Gaming Gonzilla is the team behind Off the Grid. Gonzilla
23:19
Speaker 2: has created a game that they raised over one hundred
23:23
Speaker 2: million dollars worth to publish. It's a triple A published game.
23:27
Speaker 2: You know, there was one weekend about three or four
23:29
Speaker 2: weeks ago where on the Epics Store platform they were
23:32
Speaker 2: above Legal Legends. That's the number one game. So the
23:37
Speaker 2: amount of wallets that's been created is over nine million
23:40
Speaker 2: to play this on the blockchain enabled solution. And what
23:45
Speaker 2: they're with the founders of this company, Off the Grid
23:48
Speaker 2: for a Gonzilla for Off the Grid, we're always thinking
23:51
Speaker 2: is it's about asset ownership, because ultimately, if you feel
23:55
Speaker 2: like you actually own that asset, you will do more
23:58
Speaker 2: with it. We've seen this in the loyalty and royalty.
24:00
Speaker 2: We talked about it with tip the ticketing stuff. If
24:04
Speaker 2: you actually can have loyalty and royalty associated with it
24:06
Speaker 2: and you feel like you really own it, it'll be
24:08
Speaker 2: like you finally saying my Delta miles really mean something
24:13
Speaker 2: because I'm not going to get the points deflated through
24:17
Speaker 2: some crazy inflation structure monetary system controlled by Delta Corporation.
24:21
Speaker 2: So that that is what the ultimate goal. That's the
24:24
Speaker 2: big picture of what the team that Gonzilla is doing
24:27
Speaker 2: off the Grid. The game Twitch viewers aside is still
24:31
Speaker 2: doing fantastic.
24:34
Speaker 1: Well, you hit on something within the loyalty side of things.
24:36
Speaker 1: This is something that was in the news. TGI Fridays
24:39
Speaker 1: just file for bankruptcy and they're taking i think, almost
24:42
Speaker 1: fifty million in rewards numbers of clients, you know, rewards
24:46
Speaker 1: dollars into that bankruptcy. So you're exactly right. If you
24:50
Speaker 1: put all of those kinds of whether it's loyalty, royalty,
24:53
Speaker 1: gift cards, all sorts of you know, decentralized value into blockchains,
24:58
Speaker 1: especially into something like gaming, I think it definitely starts
25:02
Speaker 1: to open up the opportunity for businesses, but more importantly
25:06
Speaker 1: consumers to understand that this is a huge value proposition
25:10
Speaker 1: going forward. I want to play a clip here. This
25:13
Speaker 1: is kind of just a strategy that we're looking at.
25:16
Speaker 1: When you think about how early Off the Grid is,
25:20
Speaker 1: take a look at this.
25:22
Speaker 14: We're hearing some chatter about her thing called off the Grid.
25:26
Speaker 11: You played it, No, not yet?
25:27
Speaker 6: You played it not yet.
25:29
Speaker 2: But I've watched the videos.
25:31
Speaker 14: Well, you know, there's one thing I'll say when I
25:32
Speaker 14: ask people if they played it. The answers of one
25:35
Speaker 14: or two answers, it's either yes it rocked or not yet.
25:41
Speaker 14: I've not yet had a single person say no, no,
25:45
Speaker 14: I will be playing it. You said not yet yet.
25:47
Speaker 13: Oh, I said not yet, not yet.
25:49
Speaker 14: Yeah, everyone's about to play it or has played it,
25:51
Speaker 14: which I think is freaking amazing.
25:54
Speaker 1: And remember it's very hard to get to them, and
25:56
Speaker 1: we were only able to get through it through a
25:58
Speaker 1: lot of hoops to be able to fually test the game.
26:01
Speaker 1: But when you look at the strategy of in game assets, John,
26:06
Speaker 1: this is a good example, this tweet right here. Items
26:08
Speaker 1: are an in game with can we withdrawn as NFT
26:11
Speaker 1: and sold by players who KYC. But guns tokens earned
26:14
Speaker 1: by players, however, will be remaining in game currency. Do
26:17
Speaker 1: you think that could shift at one time?
26:19
Speaker 2: The answer is simply yes, because a lot of these
26:22
Speaker 2: crossover enterprises, whether it's gaming or trafy. Like I said before,
26:26
Speaker 2: I think you go from web two point zero to
26:28
Speaker 2: web three point oh, But you don't go jump from
26:30
Speaker 2: two to three. You go to two point one, you
26:32
Speaker 2: go to two point five, and then you go to
26:33
Speaker 2: three point oh. You know, the first step is to
26:35
Speaker 2: create the data providance, the authenticity, the security, and that's
26:38
Speaker 2: why you do it on a blockchain, and then you
26:40
Speaker 2: save costs by doing on a database called distributed database
26:44
Speaker 2: called the blockchain. You the second step is the wallet
26:47
Speaker 2: enablation enabled self sovereign for the consumer, and then a
26:52
Speaker 2: stable coin regulation comes around. Then the consumer really feels
26:56
Speaker 2: like they can own it because suddenly they can move
26:58
Speaker 2: it around the ecosystem of if you will. And then
27:01
Speaker 2: Web three point zero, the full version of it will
27:04
Speaker 2: be a token economy incentives embedded into it, everything else
27:08
Speaker 2: that we've always talked about for the dream of Web
27:11
Speaker 2: three and truly decentralized. So the answer is yes, they're
27:15
Speaker 2: going from two point one and they will be at
27:16
Speaker 2: two point five pending you know, social acceptance as well
27:20
Speaker 2: as regulation clarity.
27:22
Speaker 1: One of the key things to me is going to
27:24
Speaker 1: be able to bring in major brands that help kind
27:27
Speaker 1: of foster that adoption. You look at what Chipotle did
27:29
Speaker 1: with tech and eight. This is a good example. You know,
27:32
Speaker 1: they had a massive promo with teken eight and it
27:35
Speaker 1: was extremely successful. Why would we not be able to
27:40
Speaker 1: just go further into it and say, hey, guess what
27:43
Speaker 1: we can actually start to integrate this into things like
27:48
Speaker 1: what tech and eight is done. You've got the token,
27:50
Speaker 1: you've got the ability for merch you've got characters, all
27:53
Speaker 1: these are NFTs or could be, and Off the Grid
27:56
Speaker 1: would be a perfect matchup right now. I mean, especially
27:58
Speaker 1: as they go to two point five, which would be
28:01
Speaker 1: a perfect kind of scenario that you could see. So
28:03
Speaker 1: maybe we'll see Off the Grid in Chipotle soon.
28:07
Speaker 2: We're had it that way. I like it.
28:09
Speaker 3: I like it all right.
28:11
Speaker 1: Well, listen, We've got a lot of other things to
28:13
Speaker 1: kind of head into, and I think one of the
28:15
Speaker 1: things I want to jump on is a prediction to you,
28:20
Speaker 1: and that is which is going to join Avalanche first?
28:24
Speaker 1: And when I say Avalanche, they're going to get into
28:26
Speaker 1: the l ones so forth. We've got a couple of
28:29
Speaker 1: lists here, so McDonald's, I'm looking at Loyalty, I look
28:34
Speaker 1: at Fortnite or Roadblocks on the gaming side, Taylor Swift
28:39
Speaker 1: for ticketing, you know, or TikTok for social media. If
28:45
Speaker 1: if we see the transition coming in, you know, on
28:49
Speaker 1: TikTok possibly going into social media, a decentralized social media,
28:53
Speaker 1: which one do you think could happen on Avalanche first?
28:55
Speaker 2: So you actually say a prediction to you to me, yes,
28:58
Speaker 2: therefore you're supposed to give me the prediction. I don't know, misspoke.
29:06
Speaker 2: You have ticketing you.
29:08
Speaker 1: Have social, social gaming. Uh, and then of course loyalty,
29:14
Speaker 1: which is you know, McDonald's or others. But I'm saying,
29:17
Speaker 1: you know, a McDonald's loyalty. It doesn't have to be
29:19
Speaker 1: McDonald's the brand, but loyalty really coming in and making
29:22
Speaker 1: a big splash inside the avalanche ecosystem.
29:27
Speaker 2: So right now in pole position in terms of one
29:32
Speaker 2: of these mega Web two type companies coming over to
29:36
Speaker 2: Web three, there's no doubt that gaming and loyalty, royalty
29:39
Speaker 2: are and ticketing are in the driver's seat of a
29:43
Speaker 2: mega mega brand coming over. It may not be McDonald's,
29:47
Speaker 2: but there are plenty of other mega brands that will
29:50
Speaker 2: possibly could come over as well. So I think those
29:53
Speaker 2: are the categories that are leading the way here. It's gaming,
29:57
Speaker 2: it's loyalty royalty combined with ticketing.
29:59
Speaker 1: Okay, So social is on the outer rail right now,
30:03
Speaker 1: you feel, but it's it potentially could be coming based
30:07
Speaker 1: on some of the things that might happen, either with
30:09
Speaker 1: TikTok or other you know.
30:10
Speaker 2: The interesting way social is, if TikTok does get banned,
30:14
Speaker 2: there's something you know, mega could happen very quickly. But
30:19
Speaker 2: if it doesn't, if without that externality. I was giving
30:23
Speaker 2: you a so called I wouldn't say prediction, but a
30:27
Speaker 2: likelihood based on what activity we're seeing already. But in
30:32
Speaker 2: terms of when a huge externality comes in the you know,
30:35
Speaker 2: basically the landscape changes completely and there could be something
30:38
Speaker 2: social popping up immediately. Because I know the guys and
30:42
Speaker 2: me we are thinking about that with Liberty Project Liberty,
30:44
Speaker 2: and there are others part of thinking about that as well.
30:47
Speaker 1: So I was I was tweeting with Emmon the other day.
30:50
Speaker 1: I said, Hey, it's time to bring the avalanche event
30:53
Speaker 1: to the United States. I'm hearing I'm hearing a little
30:57
Speaker 1: rumbling that that might happen. Can you confirm or deny
31:01
Speaker 1: that the avalanche event will be here in the US
31:03
Speaker 1: next year?
31:05
Speaker 2: I can neither confirm nor deny, but US is definitely
31:09
Speaker 2: in the near term for sure. Don't forget that that
31:14
Speaker 2: you know are following the US is fantastic, But also
31:17
Speaker 2: we need to be there around the world. I mean
31:19
Speaker 2: Argentina where we were thirty to forty percent of the
31:21
Speaker 2: people actually on a daily basis use crypto and it
31:25
Speaker 2: was just an incredible experience. In fact, you know, doctor
31:28
Speaker 2: aman Good and Seer got a chance to meet with
31:31
Speaker 2: Javier Melee, the President, and it was just a great experience.
31:35
Speaker 2: And these areas where there is more of a you know,
31:39
Speaker 2: in the US, we kind of get spoilt because a
31:41
Speaker 2: lot of things we have are pretty good. But when
31:43
Speaker 2: you go to a place like Argentina, you really understand
31:46
Speaker 2: the value of Web three andreact exactly.
31:49
Speaker 1: I mean, yeah, I think I look at the United
31:51
Speaker 1: States now, you know, from a real world assets side,
31:54
Speaker 1: and you think about where Wall Street is going, the
31:57
Speaker 1: connectivity to what Avalanche is doing in real world assets.
32:02
Speaker 1: There's going to be a huge opportunity, plus the onslaught
32:05
Speaker 1: of most likely positive legislation that could change the face
32:10
Speaker 1: of the United States as the leading country for blockchain
32:13
Speaker 1: innovation just in the next twelve months. So I'm looking
32:17
Speaker 1: forward to a lot of the major chains starting to
32:20
Speaker 1: drop their events in the United States. I hope you
32:22
Speaker 1: guys are one of them.
32:23
Speaker 2: So well, listen there. I can tell you just in
32:27
Speaker 2: the last two days, there's a lot of traditional finance
32:30
Speaker 2: and other enterprises who want to go on that journey
32:33
Speaker 2: from Web two to two point one, two point five
32:35
Speaker 2: to three, but they've paused somewhere between two and three,
32:39
Speaker 2: or they haven't started a two point one yet because
32:42
Speaker 2: they want to see clarity. What was amazing in the
32:46
Speaker 2: last two days. I feel like, based on the volume
32:49
Speaker 2: of my emails and my zoom calls and inquiries, that
32:52
Speaker 2: there is an institutional unlock already happening, even before there
32:57
Speaker 2: is clear certainty and regulation, because they feel like it
33:01
Speaker 2: will happen soon. I was just at a conference hosted
33:05
Speaker 2: by a company called the Tie Great Dashboard for crypto company.
33:10
Speaker 2: The amount of energy in that conference, and it was
33:13
Speaker 2: a large conference platform, was just absolutely incredible. Regardless your
33:17
Speaker 2: political views. The people there were blockchain and crypto builders,
33:23
Speaker 2: either from Web two to Web three or just pure
33:25
Speaker 2: Web three, and the energy in that room and the
33:28
Speaker 2: hope in that room was so different from just a
33:30
Speaker 2: week ago.
33:32
Speaker 1: I can tell you that the last two days, just
33:35
Speaker 1: for us, the amount of partner outreach that we've had
33:38
Speaker 1: coming into our network has probably four to five x
33:43
Speaker 1: in just a period of a short time. In the
33:46
Speaker 1: I think in the hopes that the United States is
33:49
Speaker 1: definitely going to become a major player again, which it
33:52
Speaker 1: should be. You know, I think you and I should be.
33:54
Speaker 1: It should be one of the leaders world leaders around
33:57
Speaker 1: what blockchain the blockchain future is going, John Woo, It's
34:00
Speaker 1: always fun kind of chatting with you and breaking down
34:03
Speaker 1: get inside of your head is hard, but I appreciate
34:06
Speaker 1: you opening up to us and giving us your time today.
34:08
Speaker 1: Thanks for coming in.
34:09
Speaker 2: It's always fun to talk with you. You're awesome.
34:11
Speaker 1: Thank you, all right, Thanks John. All right, you guys
34:14
Speaker 1: are tuned in maybe on the podcast side of things,
34:17
Speaker 1: jump over here to the YouTube channel. This is the
34:18
Speaker 1: best place to catch all of our content. And of
34:21
Speaker 1: course if you're not in our Diamond Circle, get in
34:23
Speaker 1: on that. It is our own private group where we
34:25
Speaker 1: do additional emails and we give you guys additional content
34:29
Speaker 1: over there that Actually it's a personal podcast from me
34:32
Speaker 1: that I do over just the Diamond Circle. You guys
34:34
Speaker 1: can join just click the link down below or catch
34:36
Speaker 1: me out there on x at Paul Baron. We'll catch
34:38
Speaker 1: you next time right here on Techpath.
34:41
Speaker 9: Thanks