Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
What Will Spark Change In Web3?
Recorded: June 10, 2025 Duration: 1:04:03Space Recording
Short Summary
In a dynamic discussion, industry leaders explored the future of Web3, highlighting significant project launches, fundraising milestones, and emerging trends in tokenization and stablecoin adoption. Key insights included the need for genuine innovation and the potential for centralized businesses to embrace crypto solutions.
Full Transcription
Thank you. Good morning, good evening, good afternoon, wherever you're at in this crypto world.
My name is Cody and I will be your host for today.
So bear with me here for just a second.
We've got a few of our speakers up on stage currently.
Just need to grab a few more and then we will kick this thing off.
So if you haven't done so already, definitely give this space a share so that we can beat the algorithms of X and get it out to the masses.
We have a great topic, a great lineup of panelists to help in the discussion.
So let's make it a good one.
Give me just one sec and we will get the rest of them up and we'll kick it off.
All right. All right. I think we are good to go. So, kicking us off today, what will spark change in Web3? You know, it's one of those things that a lot of people say it's
because of the UI. It's because of investor institutional capital coming in. It has
to do with the moon phases. I don't know. There's a lot of different opinions as to why people feel
that this market cycle is off a little bit, but we definitely want to try to figure out what are some of those root
causes happening for what's going on and what will spark the change that we need to need
in the future.
So joining us today, we've got a great lineup of panelists and let's start going around.
You guys, I'll give you guys 30 seconds to kind of introduce yourself and tell us who's behind the handle and what it's about.
So, again, just try to keep it to 30 seconds.
We do have a packed house today, so we don't want to waste the majority of the time doing intros.
So, with that being said, we'll start with OpenLoot first.
Go for it, my friend.
Hey, good morning, guys.
So OpenLoot is a Web3 gaming platform and ecosystem.
We aim to be the Steam of Web3 gaming.
We have seven fantastic games in our ecosystem.
Recently, we were just on Binance Alpha.
So definitely stay up to tune, stay up to date with our latest updates.
We have some really cool ones coming very shortly.
All right.
Welcome, welcome.
Next up is Maverick.
Hey, guys.
Alex Davis here behind the Maverick account.
Maverick is a Layer 1 built for seamlessly integrating tokenized real-world assets with DeFi.
built for seamlessly integrating tokenized real world assets with DeFi.
So on that account, we've built out secondary markets
and lending to go along with it and Oracle's in one platform.
So there's equities for secondary markets, lending with Maven.
And we recently announced a $3 billion, scaling to $10 billion actually,
tokenization deal with Magroup for yield bearing assets in Dubai,
all on multibank.io's new RWA platform
that's using our tech. So excited for that. Yeah, that's pretty exciting news. Congrats on that.
Let's go over to Governor. Hey, hey, GM, GM. This is Ben Whitby behind the Governor tag.
GM, GM, this is Ben Whitby behind the Governor tag.
Governor is permissionless universal control,
unlocking $3 trillion worth of liquidity
across all of the crypto ecosystem to every single chain.
The breakthrough product that we're going to be talking about next
is permissionless DeFi Bitcoin loans.
So you've heard of Maker.
Now bring your Bitcoin to your own vault
and mint your own algorithmic stablecoin
through the governor platform.
That sounds really cool.
I kind of like the sound of that.
Let's keep it going.
Bitcoin's been denied access to De5 for too long so it's uh
it's gonna be exciting to get it into the space oh for sure for sure all right uh soulbound you're
up my friend let's go what's up everybody marcello head of spaces here at soulbound
uh quick introduction we are streamify gamble fi, all the FIs, all in one beautiful platform.
We've got a TGE coming up very soon, IDEO sale happening right now.
Check out our pin post if you're interested.
But Cody, super happy to be here and awesome to see so many legends on stage.
But thanks for having us.
Oh, for sure. You're definitely up there with the legends, my friend.
That is for sure. New to the spaces is Playmine. Go for it.
assisted no-code game creation.
So basically propelling UGG, user-generated games.
We're building that on top of an existing 9 million ecosystem
with 400 plus games, a lot of partners, a lot of players as well,
and are basically looking forward to propel the next era
of community-created games.
Thanks for having us.
Yeah, sounds awesome.
Definitely will do some deep dive on that project for sure.
I know Marcello will be there with me as well.
Let's shoot it over to Phil.
Hey, good evening, guys.
Thanks for having us, Cody.
And yeah, good day, everyone.
I'm Phil Watkins, founder of Ovivi Interactive which is a live streaming infrastructure uh we've spent the last four
years bootstrapping and solving a scalability issue which is present within the live streaming
industry itself um so we're bringing our proprietary tech into web3 uh enabling a
scalable hyper scalable consumer facing platform a lichens is a combination of Twitch, Zoom and Restream.io
all wrapped up into one platform. So pleasure to be here and obviously looking forward to this
conversation. Awesome. Well, great to have you. And last but not least, let's kick it over to Van.
Hello, everyone. My name is Van. I'm from Omni Agency. We are a marketing agency with fundraising focus.
I work as Fractual CMO with PtG Projects.
In the last year, we have raised a total $6 million across all clients.
All the clients we work with have raised successfully.
And in marketing experience, we manage north of $1 million every cycle.
So, yeah, a lot of insights there. Excited to speak.
Thanks so much.
Awesome.
Well, we want to thank everybody for taking time
out of their busy schedule to participate
in today's discussion.
Think it'll be a great one.
A lot of different verticals, a lot of different backgrounds,
as you can tell from the panelists lineup. So they'll definitely bring a lot of different backgrounds, as you can tell from the panelists lineup.
So they'll definitely bring a lot of perspective as we try to break down, you know, what are those necessary changes or events that need to happen in Web3 so that we can progress in our evolution.
So I think it's safe to say that a lot of us do agree that it does feel like a little bit
of a log jam, especially over the last six to eight months, especially with a lot of the teases
and things like that that have been going on about alt season and, you know, kicking off the bull
market and all these different kind of things. But, you know, being here building, it does seem a little off.
And that's what we're going to be talking about today.
Like, what is that off feeling that a lot of us are getting?
So if you're just tuning in, my name is Cody.
I'm with Layer 1X.
Layer 1X is a fully decentralized Layer 1 blockchain that focuses on bridge-less
interoperability technology. Our whole ethos is designed to basically unite all the crypto from
L1s to DApps to every kind of project that's out there and make it a seamless user experience for everyone. So with that being said, definitely give these guys a follow.
They deserve it for taking their time out of their day.
So let's kick this off.
My first question, and feel free to just raise your hand and jump in,
is in your own words or your own opinion,
what do you feel like holding back Web3 as of today?
Let's go with Maverick and then we'll go with Soulbound.
Maverick?
Oh, you just said raise your hand.
So before you even ask the question, I raised my hand ahead of time.
Uh-oh.
Uh-oh, I might be rugging.
Markello, I'm going to bring you up as co-host just in case.
So, yeah, Maverick, go for it, and then we'll go over to Soulbound,
and then we'll go around the horn.
Can you all hear me?
Give me a thumbs up if you can hear me.
I can hear you.
All right.
Yeah, I just put up my hand when you said put your hand up.
So I was like, okay, I'll go do that first before you even ask.
But it's a great question.
So what's holding back crypto or RWA, as you said?
What's holding back Web3 in general?
Why does it feel off?
What's your own opinion of why we're stagnant right now human
greed uh it's it's it's effectively just basically i think the thing that's holding back web3 is the
fact that you have liquidity events before you actually have any product that's out there and
so what ended up happening is you you always just have this you have an investment you know
investors always just want to get uh an investment you know investors always just
want to get uh you know obviously the quicker the return the better and as opposed to startups that
can take seven to ten years to have an ipo or or a look like a liquidity event like acquisition
then now with crypto you could sell a token list the token there's no product team gets rich vcs
cash out that's it they just go on and move another day there's there's no product, team gets rich, VCs cash out. That's it. They just go
on and move another day. There's, there's, I think it'd be really great if there was a platform that
actually tracked who worked where, so you could see how fast they sold out with a platform that
they were, that they were working with or building on and moved on to the next one and to rug people.
Because what ends up happening is, you is you know we we had all this money
that came in people made money in ico's people made money in in d5 summer that was actual innovation
that was occurring and then we got to nfts and it was mostly hot air and then it feels like every
cycle we got stupider and stupider with how people who knew how to create platforms using web3
uh effectively used more idiocy to like extract value from the
ecosystem. So then we got to meme coins and then we got to AI agents, which is effectively LLMs
mixed with meme coins with no economic tie between the token and the LLM. So I think it's
long story short, you know, overall, if I had to like high level it, human greed.
After that, it's the fact that you can have a liquidity event before you have a product.
And then after that, I blame a lot of this also on VCs,
is predatory behavior across market participants across the board.
Really good takes. I like that. I like that.
Let's hear what Marcello has to say.
Yeah, absolutely. Really great take. I mean, even just to build off of that, totally agree.
I mean, as someone who's come very much from gaming as well, how many times do we see games launch tokens before even having a tangible product, right?
I think definitely that needs to be fixed and I feel like that
conversations definitely evolved a little bit since the last couple years
but yeah no I think there's many different variables I think just the
fact that the average normie the moment you spew anything that has the word
crypto or web 3 or nft or blockchain in it a scam. And I think that we still need to move beyond that,
that, that point. And I think that just going to take time, right? Obviously on a regulatory,
regulatory side, you know, things need to change. I'm obviously, obviously coming into the space,
the whole notion of decentralization, yada, yada, I'm still in big favor of.
But obviously, as having been in the space for so long, I think I'm starting to realize, yeah, no, we need some kind of regulation or we need some kind of means to keep people accountable.
Right. Because there's too many motherfuckers out here taking people's bags and using people for exit liquidity with no consequences.
I mean, fuck, even like the US president dropping
meme coins here without any accountability. So yeah, we need to fix this situation. I think once
we pass that little hurdle, I think with time, things will change, I'm hoping. And yeah,
I think it's a slow cook. You know, over time, I think more and more people will hopefully, as things on the regulatory side
evolve, more people will be open to it. And I think, yeah, I know this needs to be also simplified
too. The average normie will not do the 20 to 50 hours of research to understand what needs to be
done. If we want to onboard anybody, it needs to be simple, right? So on a UI, UX side of things as well, I think things need to be a lot simpler.
I think we've obviously evolved a lot more.
I remember, you know, even just connecting to Web3 games and it's like you need to like plug in your MetaMask.
Like, yeah, no gamer is going to do that, right?
So just like the idea of like being able to connect with an email account, I think is huge.
Obviously, that's just an example with gaming on the macro side of things uh I think that does speak volumes though
you know we need to make things easier for folks to get onboarded not break their heads I mean even
myself as a web3 native person uh I want it simpler so yeah I think simplification needs to be important. Regulatory side of things is very important as well.
And I think it's just, like as a third point, I think it's just innovation takes time, right?
History always repeats itself.
Anytime there's a new technological innovation, everybody freaks the fuck out.
And it's like, it's the end of the world.
And it's like, no, this is the start of something new.
But we saw this, you know, with the horse to the car. You saw this with the radio to the television. It's just like,
then the television to like the internet, it consistently happens. And I know, I think now
with the third layer of the internet, which is, you know, what we love to call Web3,
is doing its job. And I think a lot of folks are obviously um in in fear you know
staying attached to the past and i think that with time as we evolve that will change but yeah
i think it's many different variables uh but all coupled together i think that uh with time it'll
change so bound remember when people read white papers right what are those what are those yeah uh totally i mean uh i loved how you
mentioned the the ultimate game that everybody has played ever since uh i can remember in crypto
which is prisoner's dilemma that's the biggest biggest one out there uh for for being uh liquidity
exit liquidity for everybody.
Everybody plays that on a daily basis.
So thanks for reminding us all about how we get wrecked.
Appreciate it, Marcello.
All right, Governor, you're up, my friend.
So what's going to spark a change in Web3?
Two things, stable coins and centralized business.
It's going to get really, really interesting when normal businesses go, yeah, we've got equity deals.
We've got partnership deals.
We do, you know, Sony led the way with their kind of their foray into their new blockchain.
It's going to be a case of when all the centralized Web 2 companies come through and just go,
yeah, we accept stablecoins now for payment.
That's starting to get really, really interesting.
We've got so many different assets fragmented on so many different chains we need to be able to
kind of recognize that figure out what that means in terms of how these different solutions start
coming through but yeah we've had you know ups and downs left rights centralization decentralization you know in the gaming space we had play to earn it was it was
never gonna it was never gonna beat a good old-fashioned profitable business and that's
what we need we need to be able to drive that kind of mindset into this new space and it isn't about
just having tokens inflating forever it's about real cash flows real business
building things that people want and things that people use the challenge and the benefits around
web3 is one it is complex to get into this space it is complex so we do need to simplify that but
when you have cracked it it opens up the market to so many more people.
You know, we're talking about 2 billion people today that have got bank accounts.
Potentially, we're talking about a decentralized world where we can sell to 8 billion. And then when you include all the robots, you include all the AIs, you're going to have 10 billion wallets that can all pay for stuff, do stuff, consume, order products, make our lives easier.
There was a great presentation that I saw at the Oxford Blockchain event about six months ago.
And it went into the A16Z position where Chris Dixon wrote his book, Read, Right, Own,
which is a great book, everybody should read it.
And this PhD doctor stood up and said,
completely agree with Chris's position.
It is read, right, own.
That's how we get to web three.
What's the next stage?
It's delegate, read, right, own, delegate.
And that takes us into the 20 billion wallet scenario where you've got everything with a wallet or crypto address, everything delegated to do different things.
And you can go off and you can just get the things that you want to get done in life done without any friction.
Love it. Love it. Yeah. A lot of great
points there. We're going to be circling back on a few of those here in just a minute, but
let's get through the remainder of these hands. Play mine. Go for it.
Thanks a lot. I was actually just about to mention the very same thing, what Ben said about web three businesses building in a way that would create real cash flows no matter what, no matter what the market sentiment is or if it's all season or whatever season.
There needs to be a solid business model that also ultimately helps attract additional capital from the more traditional VCs,
like, I don't know, old country banks and what have you.
But I've got maybe two quick extra points to that. One, I don't really have the pathway towards that in mind,
but I think what could actually really be a big changer for all of the Web3 projects
is reshaping the relationship with retail, right?
So if the majority of your token holders are people who think like an investor,
meaning that they got in hoping to do 10, 20, whatever X on the token,
hoping to do 10, 20, whatever X on the token.
This exposes you to the market to a point where the price action
might not necessarily reflect the quality of your product, right?
It's people who are actually going to be using it.
It's people who actually want to use that,
who should constitute the sort of foundational chunk of the holders.
And a few years back, there were a lot of projects like that.
They still exist even in the gaming space, right,
where it's kind of you do not see explosive charts,
skyrocketing peaks or dramatic slumps.
It's just really people getting and using a hold in the token
for what they want, right?
And the rest of the cash flow does not necessarily come
from market making or whatever, but again,
from a more sustainable business model.
Two, I think what's especially currently happening
and I think is damaging uh for this space overall with the
just a few winners is this whole attention is all you need kind of mindset propagated by
yapping and what have you right of course this gives you a short-term boost because a lot of people will be talking about you and whatnot.
But this is not a sustainable wave of attention span.
And most of those are going to move away as soon as the next big shiny thing comes in.
So how do we get to that point is, well, that's a big question, right? In terms of gaming, things are turning around towards micro communities, growing up your own super fans that will share it with their friends and whatnot.
Because in the end, what it needs to be, any Web3 project is something that inspires a line of thought in everyone.
something that inspires the line of thought in everyone.
Okay, my friend is on that, then this is where I got to be.
That's my take on that.
Yeah, great takes.
Definitely great takes.
Yeah, some good pointers there that I really liked about, you know,
definitely reshaping the relationship.
I think that's definitely key there.
So, yeah, thanks for sharing.
Let's kick it over to Phil.
Yeah, some awesome takes so far.
I'll just start it with this quote.
To disrupt an industry, you need to solve a core fundamental problem
that changes consumer habits, economics and lives.
So at the end of the day, unfortunately what we've seen this cycle is too
many copy and pastes uh of say certain solutions too many third party into integrations into new
innovative you know uh web3 products which unfortunately aren't innovative and the you know
behest to the typical web 2 scalability issues or cost at scale issues.
And then they're just wrapped with some Web3 trimmings, right?
So unfortunately, you know, if you put lipstick on a pig, it's still a pig.
And that's a fact in the market.
And what we're seeing this market cycle is if you shorted a lot of the TGs that occurred on Binance this year,
you would have made a lot of money.
Why? Because there wasn't the innovative solutions,
there wasn't the sustainable tokenomics,
there wasn't the already established business revenue models
that we've already spoken about.
And I think now in this market cycle,
people are waking up to that need.
So it's, you know, unfortunately,
not everyone is gonna do the due diligence
in looking behind the veil and actually seeing what the innovation is that stands behind the product itself. But those products that are actually truly innovating, that have created or solved an industry problem, will stand the test of time and obviously adopt those true business economics which which are
actually needed so um i actually don't call it a web 2 or web 3 business i literally just call
it a business with uh you know all the web 3 innovation which is required and i think that's
the phase that we're moving into ah good take i like that uh let's kick it over to van
Ah, good take. I like that. Let's kick it over to Van.
I love all the takes from everyone. Yeah, it's true. We need to simplify onboarding.
We need to make sure that somebody is keeping a check. And I also like the idea of micro-communities.
I think today Web3 has become an extraction game.
And I think the reason why is that,
and the reason we move away from that is by changing expectations.
And it's true for, you know, founders who come from Web2.
It's also true for people who have built in Web3.
Like they have shipped three, four products.
And to them, the first thing that's on their mind
is not to build the product.
They just want to extract and then build the product which needs to change.
So that's one thing.
But the question is, who drives that change?
Because the tokenomics advisors, the market makers in the network, the VCs in the network,
they all want extraction.
And the thing is, nobody can work without marketing on their team
you can't you need vcs you need marketing you need to go to ideas you need to go to like you need to
make post-easy liquidations you need marketing for that or even if you launch your token you need
your kofs so again marketing is involved one thing i've found success with like to make sure that
these people are actually building something they have a real business in place and it's not you know just vaporware is by putting on a hat of
advisor a business advisor and telling them that first you need to add utility and that's how you
differentiate yourself from the 90% noise that's out there and then you just and the the other expectation that people have
is shit uh you we all talk about you know building a web3 tribe but founders they're
often expecting i need all the people under the sun that's not how it works you don't need all
the people if you look at all the people who invest in ids you don't have more than 5 000
people shit at best you have a thousand more than 5,000 people shared. At best, you have 1,000, 2,000 people.
And those people are enough. So if you have those super users, and if you have a really good product,
and you have retention, that's all you need. And now you just need to make sure that your product
actually solves something. So it's a mix of all the things we've covered so far. The main thing is,
there needs to be someone who drives our change.
People just don't need devs on their team and they also don't need just people from the VC house
to guide them and all that stuff. They actually need someone to guide the ship when it comes to
product development as it happens in Web2. It's a great great point web 2 and web 3 businesses are not that
different because the people interacting with web 3 businesses have come from web 2 so their
expectations are very much similar i want something that works yeah that's my take on it thank you
no i love it that's a great take you know who who is definitely going to be driving this change is
is going to be the
big question i think uh maverick you got your hand up or is that from before
it was uh it was probably four but i wanted to chime in and add some things to people which was
uh you know for one soulbound i i completely agree with you when it comes to uh um well i'll start with what i
disagree with because this is what i remember um i disagree that ui ux is a is a fundamental
problem in our industry at the moment um yes for grandma and grandpa it's going to be really hard
but for gamers not really i mean so i i used to play a lot of like Xbox when I was in college.
And then effectively, my chief of staff, Sam, left his Xbox at my house and it wasn't turned on for a long time.
So I went to go turn it on and it was about several hours worth of updates in order to get it up to speed and working again.
And they just wouldn't let you play unless you did this update.
And that update drew another update.
That update drew another update.
Then Call of Duty needed to be updated.
So gamers will, like,
they'll connect their MetaMask wallet
if the game is fun.
They just don't need to authorize
every transaction on chain.
But I think we're getting past,
and that's on the gaming side,
but we have,
and this is more towards everybody's points,
we have everything here in our industry now to build viable products that generate sustainable revenues and are not just based off of Ponzanomics or pump and dump schemes and yada yada.
We have MPC wallets that can abstract away keys.
We've got ways to cover gas for people.
We've got ways to simplify smart contracts there's all these
things that were hindering our industry are now basically i would call them all the tech is there
it's all available no one's building products no one's building anything that changes people's
lives i don't remember who said it but um it was the australian dude who was like in order to
disrupt an industry you need to answer a problem.
And no one's answering problems.
Great.
You've created a new PFP with 10,000 of computer-generated images.
Congrats.
You've changed the world.
You're going to disrupt the art scene.
No, you've done nothing.
I mean, you've done some things, but next to nothing in regards to like, quote unquote, innovation. So when it comes to it, it's like, what I see is there are Web2 companies that don't understand tech whatsoever, or even analog companies when it comes to like what we're doing in the RWA space.
And then you've got Web3 companies who are like, I turned a house into an NFT and it's not a security, but I'm going fractionalize the nft where you could have just launched a token for it instead um well you know a fungible token rather than needing to
fractionalize a non-fungible token so it's uh there's a lot of business missing from the web
three scene and there's a lot of tech missing from the web two and analog i won't even call it web
one analog scene and And it's going
to be the, the companies, as someone else said, I think, again, it was the Australian book. I don't
remember which profile you're behind. Um, that said, it's just about doing that's Phil. All right.
Thank you. Uh, it's just about being a business. So you got to understand enough about business
and enough about the tech and deploy products that are usable for people. It's going to be those bridges between both worlds that actually build long-term adoption.
And also there's not that much innovation left. If anybody can name me any innovation that's
actually recent and new, I don't, you know, to be, we've got Dexas, we've got Oracles, we've got
lending and borrowing, but we don't have products that actually deploy
that again back to business um but just copying and pasting Aave for the 7,000th time doesn't do
anything hey but that 7,001 time will make it make it happen right uh no totally if you add to it
for sure like if you if you give it like, Hey, you know what?
We're going to give it a different user experience.
We're going to onboard some off chain type lending.
We're going to allow you to create a vault and mint your own stable coin, kind of like
a dye based lending type of thing.
But if, if you, I think we've, we've innovated as much as we, there's spouts of innovation, but what we need is refinement of those innovations,
iterations that take this great product and turn it into a better product or an applicable product.
That's a great take. And definitely, basically what I was going to talk about, which so it's a great segue into this. If you've heard
me on spaces before around this kind of subject, I wholeheartedly agree with all of the different
things that have been said. You know, who's going to drive the change? We need to reshape
our relationships. You know, there needs to be a lot of different things happening, right? And so,
if we take a page out of history and we look at the life cycle of the various industries out there,
we can actually get a lot of insight as to, one, where we're at in an industry as a Web3 industry
in the different phase. And there's four phases that they usually go through.
But you can look at cell phones.
You can look at gaming consoles.
You can look at games.
You could look at even banks.
You know, why isn't there a million banks out there?
Why isn't there a million consoles out there?
a million consoles out there? Why isn't there a million cell phones out there? And it boils down
Why isn't there a million cell phones out there?
to the fact that these guys have gone through these different life cycles, or industry life
cycles, I should say, of the different phases of this evolution, right? And so it doesn't matter if you're here to invest, use, build. This lifecycle will even apply to Web3. And so to Maverick's point, he was saying, we've already got this, we've already got that. And that is actually the first phase of this industry growth, which is talking about like the induction phase, right? Bitcoin was the one that
really debuted it, along with Ethereum in the early days of the smart contracts, which really
kicked a lot of things off. And I feel like we've already moved past that phase and we're in the
growth phase right now. And so before I feel like we can move forward, there needs to be a great,
Before I feel like we can move forward, there needs to be a great, what I call a great shakedown, which is, you know, where the ugly duckling becomes a swan type of thing.
It's where we rise, where Web3 will basically rise from a major consolidation event, right?
And so, meaning that in my mind, for us to move forward, we all need to pull together.
We need to start collaborating more.
We need to unite a little bit more.
And because, let's be honest, let's pull the Band-Aid off, there's not going to be enough
users if everybody is fighting for every single user to be on their site, onto their project,
onto their protocol, onto their game, whatever you want
to call it.
There are not going to be enough users to constantly be doing that.
And we're going to be fighting for it.
It's the same screen wars that the mobile phones and majority of the social media platforms
have been fighting over for the last decade and a half.
And likewise, there's not going to be enough liquidity to go around for every single project
to have billions of dollars of liquidity into their project.
And so this naturally forces projects to come together if they want to survive.
Games studios start consolidating into one uh
dx's start consolidating into one um dap start consolidating to make super daps right uh i feel
like this is that major change that might make it this is according to me in my own opinion but i'm
i'm curious we've talked about a lot of these
different things and we haven't been able to find a real definitive answer of like, who's going to
be leading the charge on this major change? And in my opinion, I think it's definitely going to be
this event that's going to make it change because that'll make us go into the maturity phase. And
that's where we start getting
the stable, the institutional businesses coming in, the solid business models,
because in order to thrive and survive, we need to have these kind of things in place.
And it's history. Like I said, you can look at any other industry out there and they've all
gone through similar cycles. So my question to you guys is, when will this happen? And what are some of those signs of the
times that might lead to this kind of a major event happening? Governor, go for it. Got your hand up.
Hey, so that's some great points to kind of unpack there.
Just kind of going back to my earlier statements in terms of what I believe kind of being the
tipping point being stable coins.
I think that's one of the first industries that we're going to see disruptive. today various different industries operate in very local jurisdictions and sell in their local currency.
I think the Web3 will push dollarization of the world.
We are seeing now stablecoins being categorized in and denominated in dollars more than anything before you know even national
kind of teams in various different countries are launching dollar backed stable coins or
dollar denominated stable coins so this can be equated to the euro dollar positioning that
happened subject to gold coming off the dollar coming
off the gold standard when they effectively kind of ran out of dollars.
What we'll see going forwards from there will then be a case of the FX market being dominated
by stablecoin position. There was a great article launched by the Bank of England
about probably about six years ago now.
And it demonstrated that the further away you get from liquidity,
the worse price you get.
So if you go to a very institutional player
and do a large ticket in terms of an FX transaction, you'll get great pricing.
If you go to a retail counter to do an FX transaction in an airport as a distressed purchase before you get on that plane to go to a new different country, you get a terrible spread and terrible pricing.
I think what we'll see is we'll see stable coins begin to dominate in FX.
I think we'll see institutional plays coming through
where international companies are doing large FX deals
and we start to dollarize the world.
And it starts to bring us together in a way that, you know,
prior globalization just tried to achieve,
but just couldn't.
And I say that because you can globalize digital assets in a very, very dynamic way.
You know, I think we've all seen people kind of getting online, playing games, doing chat
rooms, et cetera.
You end up with waves of chapters of players and delegates in various different time frames and time zones.
But fundamentally, the businesses that are going to dominate in this space are the ones that are
going to have effectively the right type of path to a digital infrastructure. So I think players like gaming,
players like music creation, movies, anything digital,
anything kind of positioned in a way that is unique
and powerful is gonna be, and digitized,
is gonna be able to generate activity and profits in web3 space very easily
and it will be a very quick and easy move and i think the the other challenges is going to be um
who are going to be losing out from all of this you know so we've got obviously the the money
transmitters the positions etc western unions those types of players they're going to be losing
out um but potentially the other players, they're gonna be losing out.
But potentially the other players
that are gonna be losing out will be the countries
because there's not gonna be such a demand
for local currency now if people can hold stable coins
that are gonna be backed by solid dollars.
So it's an incredibly insightful strategy. I think that
is why the genius act is called the genius act, because the
politicians think it is actually genius to kind of take over the
world with, with this dollarization of stable coins.
But it all means that, you know, everything leads to a
digital future and that digital future is going to be fragmented.
So, you know, there is not one blockchain to rule them all.
We need to collaborate in this space to win.
Yeah, great take. Great take.
Let's shoot it over to Maverick. I think you had your hand up first.
Hey, yeah. So what is it going to take to actually make this change? I think we need something similar to an iPhone moment, where I wouldn't necessarily call it hardware, maybe it's software, but something that acts as a catalyst for shifting us over into this new wave of, you know, read, write, own was a great way of putting it.
Read, write, own was a great way of putting it.
This ownership, digital ownership world
where the way that you transact with any form of ownership
is going to be tokenized.
And by tokenized, I just mean digitized on chain.
People like to think of tokens as just crypto,
but I just mean the representation of ownership of something
using the technology.
And we saw that with the iPhone.
The iPhone was not the first smartphone,
but it was the one that actually gave the ability,
like real use case and real prowess to smartphones.
There were applications that you could put on.
They weren't the first one with applications either.
I mean, I had a window, old Windows phone actually beforehand.
So there's that.
I definitely agree there's not going to be one blockchain to rule them all.
I think there's, you know, humans categorically have proven that with like some people before ford some mercedes some nissan some aston martin some
gmc you know um i don't necessarily think stable coins are the are going to be the end all
of what's going to bring that we already have billions upon billions of stable coins
it could when it starts to permeate normal society where you could rent a car from Hertz and, you know, pay in a stable coin, but then what chain do you accept? And
yada, yada. So I think there still needs to be some aggregation. So I agree with you,
layer one X on that. Um, but when it comes to like, why would you hold fiat currency?
If you just hold the U S dollar, um, I heard a great, um, line today from Ray Buckton from RWA world.
I believe it was him who said the,
the half-life of the U S dollars,
like five years where,
you know,
you lose.
It's interesting to think about it as like a half-life,
right?
Where you lose 50% of the U S dollar value in five years.
So I don't necessarily think that USD denominated stable coins are going to
be the be all end all for on-chain stable coins or where people want to put their money if you live
in some random place because the USD is also deflating like crazy. Layer 1X, you said like
there might not be enough liquidity for all platforms. Check out the M2 money supply.
Like US dollar printing is going through the roof again. And I don't think it's a coincidence that Bitcoin came after our lifetime's great financial collapse.
The same way that I don't think it's a coincidence that we're printing fiat money up the wazoo at the same time that we finally have the ability to digitize and create liquid environments for private equity assets that are inherently liquid.
So what's going to end up happening is effectively just having trillions upon trillions upon
trillions of dollars that are out there. But now the ability to digitize tens of millions of private
equity assets that traditionally were a liquid.
And normally what we consider liquid assets are only 2000 stocks that are traded on the New York stock exchange.
So I just see it being a completely different time,
but what will be the catalyst I tweeted at the sec today,
perhaps instead of reg CF,
reg D reg a reg S there's going to be reg RWA. And as long as there's a prospectus that provides legally binding, call it, well, laws between the token holders and the issuer, from the United States, B, Dubai's kind of working on it.
But more and more, you're going to see that every country around the world completely overhauls their securities laws.
That'll be it, in my opinion.
Yeah, great takes. Let's keep it going. We're almost to the top of the hour.
Let's just make sure that we get every big going.
So next up, we have Van. Go for it.
Thank you, Cody. Cody, you made a great point about consolidation. I think about it at least once every week.
And I just think it also speaks to Maverick's first point, the first words he said about human greed, right?
Retail just needs to get smarter, smarter man and they just have to make sure
that they're not losing money the first the first day you enter crypto the first thing you need to
you get to know is invest what you can lose that's a mindset we all we all get on board with crypto
that needs to change you need to invest more wisely and that can only happen once you
once you either learn better or you learn from your mistakes and
you make enough mistakes.
And so that's one way.
And that's also why these VCs, these projects, all of them find it so easy to make money
from crypto.
It's there.
You can't just blame them that they are playing the extraction game.
They are playing it because they can't just blame them that they are playing the extraction game they can they are playing it because they can right and capital comes easy in crypto it comes reckless in crypto
people are spending like crazy and fall and because they think it's everything that they can lose
so i think um outside of everything that's said uh this sentiment shift is also very important.
We get bubbles, both strength.
Like in Web2, we had so many bubbles in the past.
And I think in 2021 and all the BS cycles
that we have in crypto,
there are nothing but just bubbles, both strength.
People just need to realize that now's the time
when you actually back projects.
And it's a chicken-in-neck problem.
There need to be projects. And that's something that people that you know they need to be projects that are actually
businesses that uh somebody needs needs to take uh action towards like there are advisors there
are people there are people in the c-suite who are making sure that there's a product
and at the same time details getting smarter and they are all because there will always be scams.
There will always be rugs.
They just need to make sure that they're not putting their eggs into baskets where their baskets want to, you know, get completely wrecked.
Yeah, great, great points there.
Let's keep moving along with PlayMind.
PlayMind, you're up next.
You're up next.
Thank you very much.
Thank you very much.
Now, I can only speak for the gaming industry as an example
and would love to hear, of course, from everyone else
how it is in their respective spaces.
But generally speaking, after probably about 30 years now,
gaming, as we know, it is considered a mature industry.
And what led to that is an explosive growth compared to the previous decades, so the last 10, 11 years, give it or take, where VCs were going on like crazy.
There were massive revenues coming in.
And I think the key factors that could be extrapolated into any other industry there was that first, there were very low barriers for entry, right?
So this is around the time where we started seeing a lot of like play to earn, play to, free to play, sorry, professional deformation.
play to free to play sorry professional deformation free to play titles dominated
the market and getting the most of the revenues and they still do 73 of that actually where people
only had to download the game from kind of a trusted source and this is going to be my second
point to try it out and then the monetization funnels started working right two they had uh all the
games have trusted distribution sources right so whenever you let's say uh want to play a game
right you can easily find it within kind of reputable ecosystems such as Microsoft, such as Valve Steam, such as Epic, Google Play Store, App Store, and whatnot.
So there is this kind of like an association moment with that. The third part of that was the gaming generally within the past decade started working with communities a lot more actively.
I'm not just talking about posting, creating Discord servers and whatnot.
There was this moment of kind of where co-creation, even in its, well, rather limited form,
it started taking shape, right?
So games expanded beyond just games.
Every title became sort of a movement
where a lot of action was around,
be it cosplay, be it fan art, be it modding,
especially modding, right?
And this is what led to the current state of the industry where it's considered a mature
market, right?
Obviously, it's not easy to recreate this in this exact shape and form for anything else,
for anything else, right?
right?
Especially if we also look at the past few years
where the pandemic was a catalyst,
so people were forced to stay at home
and gaming was one of the options
to stay connected with people, right?
But generally speaking,
I think this is something that any slash almost any industry can work with. that any kind of B2C or consumer-facing product is competing with that right now.
So to really get people's attention, to really get clients, to really grow,
Web3 platforms need to find ways to seamlessly integrate with social media or at least
redirect from social media in a way that doesn't damage the user experience.
I think that would be an interesting avenue for growth.
Oh, totally, totally agree with you on that one.
And man, I wish we could go down that rabbit hole, but we're almost to the top
of the hour. But I do encourage you to bring that same flavor to Martello and I and a few other
people host some really good gaming spaces. So I would definitely jump on that because what you're
talking about is absolutely correct. Just to kind of summarize,
you know, I personally feel, you know, working with a lot of games is in the Web3 space as well
as mobile. And, you know, there are a lot of individuals kind of siloed experiences that
they're trying to bring people to them rather than them go to
the people. So a lot of things that need to be perfected there for sure. So you definitely
touched upon it. Phil, let's go over to you, my friend. Yeah, some awesome, awesome takes.
Not to double down on all of them, but I do honestly believe that we're firmly in that
change already. We've had leaders in the space like CZ releasing articles back in March.
I humbly urge you guys to go and look it up if you haven't read it.
But basically, it's calling for a change in the way that tokenomics, TGEs are performed,
how they're linked, obviously, through to business,
underlining sustainability metrics and KPIs, milestones, et cetera.
So I do honestly believe that we're still going to see that cannibalisation within the market.
Unfortunately, you know, solutions which haven't actually, you know, solved an issue or created their own infrastructure or, you know, key positioning within the market,
they're going towards TGE and essentially they're just kicking that can down the road, right?
If they've implemented a third party solution, which is very, very expensive, not scalable,
et cetera, then it's only a matter of time.
So I do urge obviously, you know, retail, everyone, we do need to smarten up and obviously
look what's actually lying underneath the hook, underneath the hood of some of these
businesses and obviously, you know, steer away from the vanity metrics um which can obviously um yeah obviously lead you astray but
it's just a part of the evolution um we've got to go through it and literally yeah those who have
built a sustainable business model as we've described before will obviously shine through
in the end um i guess you know going back to 2016 when i entered
um you know early bird caught the worm and if you can signify those innovation projects uh early
there's still some of them around um then obviously you can get in on those uh journeys
and obviously ride it from the very bottom up um and that again is where the opportunity is it's
just unfortunately as far as the uh you know the industry is at the moment, finding those opportunities is becoming harder and harder
because of the saturation. But yeah, that's my take. I do have to leave on the hour. I do
apologize, but it's been an awesome space and look forward to the next one.
Perfect. You're definitely welcome back anytime. Great discussion, everybody. Hey, let's start with Phil since he's got to leave. Go ahead and do a 30 second outro. Feel free to drop anything alpha wise that you want about what you're cooking or if you just want to tell people how to get a hold of you.
obviously drop us a follow go through and follow ov.live as well we are a live streaming
infrastructure we've solved a industry problem that's been around for 24 years we're basically
the first scalable web rtc streaming protocol that can scale easily up to 100 000 per instance
not the 240 which is currently the limit before heading into you know different protocols like
hls rtmp etc so if you look at
abstract or any of those guys you know they've integrated third-party solutions which are very
very expensive at scale we're bringing a hyper scalable very cost-effective solution to the
market to bring you that twitch zoom and restream.io experience within one consumer product. So the creator studio for us actually is available right
now. We could hit the go launch button, but we're just doing some final testing. And essentially
that's going to really deliver our full product suite, which I'm super, super excited for. So
if you are a content creator, a gamer, a podcaster, hell, if you just want to do conference calls at scale,
then head over to Ovi.live because we're bringing that Web2 innovation,
which hasn't been achieved yet, with all the Web3 payment rails,
NFT innovation, token-gated accesses, et cetera,
and some new innovative reward systems.
So, yeah, that's the alpha.
I look forward to seeing you soon.
Awesome. Well, yeah, that's the alpha. I look forward to seeing you soon. Awesome.
Well, congrats.
Let's kick it over to Van next.
Go for it.
Not much to say.
Please follow me.
And it says connected.
And, yeah, it's an exciting time.
Lots of build.
Yeah.
Thanks so much.
All right.
Short, sweet.
That's how I like it. All right. Marcello, go so much. All right, short, sweet. That's how I like it.
All right, Marcello, go for it.
Let's go.
I'll start off by saying if you're not already following
every single one of these chads on stage,
give them a follow.
As for us at Soulbound,
we've got our TG coming up very soon.
As I mentioned, IDO sale happening right now.
Check out our pin post if you're interested.
But great discussion.
Really enjoyed it.
And I'm excited for the next one.
For sure.
Definitely stole the words right out of my mouth about having everybody like and follow these amazing panelists.
So thanks for reminding me on that.
Play mine.
Go for it.
Thanks, Etan.
It's been a pleasure being on the space.
Tons of insights.
And I really love how everyone went into actual insight-backed points when they spoke.
We are working right now on a pipeline to showcase how easy it is to actually create AI-assisted games and get them monetized, brought them to millions of players.
So that's our alpha.
Thanks a lot, everybody.
And would love to be with each and every single one of these lovely speakers on the next basis.
Yep, for sure.
Invite it back anytime.
Open invitation.
Governor, go for sure. Invite it back anytime. Open invitation. Governor, go for it.
Thanks for having us on. Really appreciate it. Like and follow. If you want to learn more,
the first and best place to go is actually republic.com.governor, where we've got our public sale going on live at this moment in time. It's operating under Reg D, which means all you US persons
can actually go and buy tokens for the first time
in a very long time.
That's a pretty exciting evolution
that we've got in the space.
So yeah, we were really excited.
There are all the pricing positions all on Republic.
Go and do your research there.
Make sure you follow because we are making waves
in unlocking $3 trillion across crypto.
Awesome. Love it. Maverick.
Yeah, also got to run, but thank you for being, you know, hosting again.
It was a wonderful conversation. Tend to love them.
You know, just a little bit of an outro.
RWAs are going to be the way that you, it's not just about tokenization. That word might even just disappear forever. Kind of like how we
don't use MP3s to talk about, you know, music anymore, but RWAs, tokenization, digitization,
blockchain, Web3, whatever word ends up being, this technology will end up revolutionizing the
way that you own and interact with all value in this world, not just with tokenized condos in Dubai, but also, you know, everything from like how you,
how you prove ownership over like a Max Verstappen race Jersey or, um, your dog, for example,
or homes like an avalanche is doing in New Jersey. So, um, bit about Maverick, we're a new RWA L1.
bit about Maverick we're a new RWA L1 we've got a three billion dollar deal for tokenizing
Mag's assets you can look up who Mag was we're with before not to you know dive into that too
much and multi-bank where we're basically helping them on board their marketplace so
stay tuned TGE coming up layer one thank you very much everybody else always a pleasure
yeah thanks to all of you guys for tuning in we appreciate it we couldn't do these
Xtalk spaces without you and your support we definitely appreciate it tune in every Tuesday
at 10 a.m eastern standard time and what is it 2 p.mTC. If you're looking to hear some great projects shill directly to you without the all the unbiased flavor that KOLs usually add in.
All you want to do is hear about projects and what they're all about.
Tune in tomorrow at 8 a.m. Eastern Standard Time for the 10 minute pitch show.
8 a.m. Eastern Standard Time for the 10-minute pitch show.
We have projects pitching and shilling,
making you the Sharks in a speed dating format
where they get 10 uninterrupted minutes to basically shill.
No price talk, no price manipulation,
just talking about what problems they're trying to solve
and how they're going about doing it.
So tune in tomorrow, 8 a.m. Eastern Standard Time, noon UTC.
We will catch you then.
If not, we'll catch you on the next episode of Xtalks every Tuesday.
Okay, everybody, have a good one.
We'll talk to you soon.
Bye-bye.
Host
LayerOneX
from
Layer One X
