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ZTX | Empowering Creators and Communities to Build, Play & Earn!🦾
Recorded: April 24, 2023 Duration: 1:18:41Space Recording
Full Transcription
Hello, everyone.
I see Connor.
We're going to go through a lot of things in here.
I can.
Hey, hey, guys.
Yeah, I feel like, you know, I feel like, you know, I feel like it's almost like the
Yeah.
a lot of things.
We produce, you know, I feel like, you know, I feel like, you know, I feel like, you know, you know,
Yeah, you know, you know, you know,
We spent zero dollars on marketing, like user acquisition and marketing for like 18 months.
First 18 months, we spent no money.
But in that time, we started just growing so quickly and had so many users that we felt like we had to add a lot of things.
Including like a 3D open world experience, social feed, creative tooling that allow people to publish their own 3D items, 3D maps, worlds, things like that.
And then fast forward for four years, we're sort of here today.
And we've been trying to prepare for like a Web3 aspect of our world for a couple of years.
So we started planning for this in 2021, early 2021.
We kind of wanted to do this even earlier, but it was the bear market and nobody thought crypto meant anything until things like Top Shot happened.
And then people actually, these sort of monumental events happened.
So then people were a bit more willing to kind of build in Web3.
So we were able to mobilize a lot more people that way.
And then in 2021, we started to plan our crypto expansion.
So yeah, fast forward a couple of years, we have a really amazing team.
We have a lot of people, including Karma, from that team that are online today.
Very global, working remotely.
And we have our Genesis NFT coming up in a couple of weeks, as well as our open world for Web3 coming up in a couple of months as well.
Nice.
I love that backstory, you know, with you mentioning, looking at these building blocks that people are sort of underusing, you know, and the things that you can do with blockchain and Web3 is super exciting.
I love that you mentioned your Genesis NFTs.
Before we get to that, can you give us sort of like, what's the journey been like up to this point, you know, because I know some people might just jump to, how do I get my hands on an NFT?
But I'd like to learn more about how the vision is coming to the floor to do, like it's through fruition, how the platform has been evolving and what's coming next.
Yeah, I mean, you know, anybody, you know, whether it's Karma or Connor or Trippie, Charles, there's a lot of us here.
Feel free to jump in and, you know, stop me if I say anything that doesn't make any sense.
Sure, like, you know, Genesis NFTs, they're going to be literally the most important thing.
Most valuable things in our ecosystem.
We'll have more NFTs, more primary NFTs, wearables, a lot of other things coming up down the road.
But these are, these will be for many, many reasons, some of which we won't disclose today, but will be the most important things in our world.
But before we really kind of get into that, I think a lot of the, it's, myself included, everybody on our team has different reasons individually for trying to contribute to what we're building.
For me, it's, I used to be an early user in Second Life.
I'm in my late 30s, so, but I guess, what is it now?
Close to 20 years ago, 15 to 20 years ago, I was in college.
I was an early user of Second Life, and it was some wild, wild scenes in Second Life that kind of opened my eyes to different types of virtual relationships and virtual identities.
And I won't get into too many details, but there was this particular virtual orgy in Second Life that I happened to walk into, and it was just mind-blowing.
Not, not, not for any graphics, but, but mostly for how people were kind of taking on these different layers of virtual identities.
Like, you could be this, like, oh, like a male avatar and behind which is not necessarily, you know, like a physical male, but then, like, a lot of different things.
And the TLDR there was that there was so much freedom for people to take on different types of identities, and then I think I was super interested in kind of taking that in a different way professionally.
So, like, like, a lot of us, I think when we are, you know, when we're born, wherever we are, geographically, socioeconomically, maybe you're not 100% in accord with your situation.
And, you know, you know, maybe there's a part of you that wants to be something different or work on something different.
And I think taking this physical attribute layer off of you is something that frees you in a way and then allows you to try to have this other, other life.
I don't, sorry if I'm getting into something, like, too serious, but I don't mean that in a way where we're kind of discrediting our physical existence, but I just feel like there's a lot of freedom that comes with having a digital identity.
And so, all we're trying to do is, all I'm trying to do is kind of accelerating that.
For example, on Web2Zepetto, which, again, has been around for four years, we've successfully built a creator ecosystem.
We have this, this kind of blew my mind, one of our early OG creators, a lot of them are virtual fashion creators.
So, they create 3D fashion items.
And there's many people like this in our community, but one of them is this girl.
She's, like, in her late 20s now.
She wanted to work in fashion, but she didn't have the right connections or money to go to a fashion school.
She couldn't get interviews at the, you know, types of fashion brands that she wanted to work with.
But instead of just kind of sucking around the thumbs, she kind of found Zepetto and then dove right in and she applied herself and she started creating 3D fashion items.
And she was one of the very first power users and creators to work on Zepetto.
And then within a year, she was making a million dollars a year, literally.
And she's not selling, you know, she's not selling items that retail for, like, 1 ETH, 2 ETH.
It's not these NFT prices.
She's selling items that sell for, like, you know, 20 cents, 30 cents per item.
But she's generating, like, you know, literally seven figures.
And now a lot of these fashion brands that she thought she would never be able to work with sort of come to her and say,
hey, can we do a collab together?
Can we do a virtual capsule collection together?
And she's in the position of positioning herself to these brands as a virtual influencer slash expert.
So those types of things.
And there's so many more examples like this.
People that are virtual models, influencers, actors, singers, architects, et cetera, on Zepetto.
And I think that they are able to sort of unshackle themselves from whatever restraints they had and at least try to be able to accomplish what they're interested in is a huge, huge incentive for me and for a lot of us working on Zepetto.
I love that.
Karma, you don't need to raise your hand.
Just go for it.
Yeah, it's, you know, like, back from my study days, I'm still so polite, even on spaces.
No, but diving straight in, I wanted to double click on something Rudy has just said, because, you know, it is indeed a huge motivator for many of us in the team.
So, I mean, at ZTX, you know, being that joint blockchain initiative between Jump and Zepetto and having been founded last year to, you know,
continue on what Zepetto has so successfully created in Web 2, but in Web 3, we are incredibly conscious of that creator economy that we have to enable and build like, you know, just like a fertile layer for.
So, what I wanted to sort of like expand on was that idea of creating your digital identity.
Yes, that's a part of it, but also owning that digital identity, which is, you know, going a step further, going very much into some of this ideology that we follow in Web 3.
Now, what I mean by that is, even looking today through the spaces, you know, every single one of us, maybe minus Connor, very, very, you know, nicely sporting a pair of shades.
Most of us have some kind of a digital identity assumed right now, and we are sporting it as our PFP.
It's not necessarily our physical self that we are projecting right now.
It's more of a poster example of some of the communities we might belong to, or some of the ideals we might follow.
So, as an extension of that, you know, at ZTX, the very first thing we've started with is an avatar builder.
Similar to how Zepetto started, we have also started out with this very first layer of facilitating your digital identity.
If you go to ZTX.io today, you will be able to preview this.
I personally call it a little bit of our proof of shipping, you know.
You can preview the incredible quality and fidelity of the digital wearables, of our avatars, and how they will look in game.
And that, obviously, is our first step towards facilitating this very free self-expression.
So, yeah, I guess that was just a little bit of a tangent of mine to, you know, reference that to ZTX and how we see that very digital identity.
I love it. I love it.
And thank you, Rudy, for taking us through sort of the vision and kind of what led you to this idea.
Because at first you were talking about the building blocks and then, you know, moving it towards ownership.
And the need for this is there, right?
There is a need for a space that anyone can explore freely, as you said it, right?
So, I love this vision for, you know, empowering everyone to simply explore a space and be as free as possible.
And, you know, on top of it, they can actually benefit, right?
I was also reading a little bit of the software development kits.
And thank you for those examples, you know, with people that can actually take their Web 2 or however you want to call them skills
and simply apply them to a Web 3 world and do very well.
So, I'm already liking ZTX a lot.
How far away or how soon is the vision coming to fruition?
Like, how soon can we actually walk into the metaverse, go into the different areas, have our own shops?
And I know maybe I'm jumping a little bit the gun here, but I'll let you, you know, tackle that as freely as you want.
Yeah, I mean, it's already live in a way because we've been operating our Web 2 application for a while.
We have over 400 million lifetime users.
So, it's a, as things stand, you can always check out our mobile application as a pedo
and just kind of see the range of things that we can offer.
Obviously, we are, when we take these things on chain and offer ownership of NFTs or NFT-based entry passes into different games
or different types of harvesting, farming, yield generating activities, that's a little bit different.
But we will most likely introduce those things this summer.
And without spilling too much, it's definitely associated with our NFT timeline.
But yeah, the short of it is, I think people will be, you know, you will have access to kind of our on-chain beta sometime this summer.
And we want to, I think it's an interesting time.
So, I've been in crypto since 2017 and it's been like two cycles since.
And every bear is really nice for building.
It's not nice for your wallet.
It's not nice for your asset value.
It's not nice for a lot of things.
But still, bears are great to build in.
And it just takes your mind off of a lot of things since everything is freaking down.
And it's kind of, we've been just kind of been putting our heads down and building since, for a while, since last year, actually.
So, yeah.
This summer, we should have something out.
I think we will likely give preferred access, early access to the holders of our NFTs and then our, like, early community.
But we'll definitely have it available to a lot more people, you know, early in the fall or late summer.
Nice. I love it.
So, stay tuned and be active in the Discord and engage with the community.
All that good stuff, maybe you can earn a pass into that early beta and test it out for all of us.
It looks exciting.
Tell us about the game.
What's there for people to do?
How can people participate in activities?
How can people earn some cold hard cash?
Well, people can firstly earn cold hard cash if they produce things that are connected to their passions or their interests.
So, this is, this, the long-term vision here is literally to enable people to perform activities virtually that they would like to do IRL.
Whether it's making clothes, making houses, making games, or singing or acting, or being an assassin in an FPS game, or being a racer in a racing game, etc.
So, that's the idea.
And then we definitely have, we have all of what I just described, and, well, most of what I described in our Web2, in our Web2 game slash application anyway.
So, we're just kind of converting those, transporting those one by one into our Web3, our Web3 worlds.
But, I think, I guess it's kind of a little bit tricky to describe this if we don't have visuals, and we're just resorting to Twitter here.
But, I guess think of it a little bit like a mix of Animal Crossing and Sims, in that there's this hyper-customizable avatar world that is also subject to harvesting.
So, you would perform things, actions, XYZ, to collect different types of resources with which you can perform actions to craft different types of furniture or wearables, and then decorate your house, or, and then sell those items, or gift those items.
So, that kind of harvesting-based labor, digital labor, is something that forms a large pillar of our world.
Yeah, and I was also reading that to actually get involved with the game, all you'll need is a plot, and there's going to be free plots for everyone to apply.
So, starting off is not going to be gated by an NFT or tokens or anything like that, right?
Yeah, so, I think there was a world a couple cycles ago when the first Web3 metaverse projects occurred, and there was a hard cap on the number of plots of land or the number of real estate-related NFTs.
And that's fine. I think that was fine for, you know, how things were like back then.
Even today, honestly, you know, if you look at OpenSea, and, you know, there's like 200,000 active wallets.
So, you kind of like filter things down, and then there's not a whole lot of active wallets.
So, I guess in some ways, it still kind of makes sense for people to have a hard cap on virtual land or Web3 land.
But, to me, land is like an Instagram account.
So, if you open up a TikTok account or an Instagram account or your Twitter account, you may not have things instantly to populate your feed, what you do because of algorithms.
But you yourself, your account may not have enough posts, but you invest time and money and resources into that so that you go traveling, you go to a restaurant, you, you know, you meet up with friends, and all those things take time and money.
And then you create selfies and you post them or you create different types of posts.
So, there's an investment there that sort of decorates and populates your own feed.
And still, when you register and when you sign up and you begin that journey on social, you still have an account to work with, like a fee to decorate and populate, right?
So, that's, for us, what land is like.
If you had to pay, if you had to register, if you were registering on TikTok or Instagram or Twitter, and then you had to pay on top of that to be able to post, to be able to decorate your feed, I think that's kind of ridiculous.
Everybody should have their own right to sort of build their virtual identity however they want to.
And, of course, there's going to be differing levels of time spent on this.
Some people are going to have more followers because they put in more time, they showed up every day, etc.
But at the least, you should still have that base to work with.
And that's kind of how we view virtual land.
So, yeah, obviously, we are selling other things like items and, you know, like premium homes or whatever.
There's different things that we are selling.
But still, when you start off, you should have your own virtual space to work with.
And that doesn't have to be sold.
Yeah, I think that's a very good way of going about it.
You know, people like to explore new things.
And if you gain a user and you have a fun experience for them and, I don't know, a way for them to mingle and mix and explore the space with, I don't know, some new friends, it could be really cool.
So how does the token play into all of this?
How are you bringing the token on chain?
How is it going to mix into the whole ecosystem?
Yeah, right to it, huh?
Yeah, sorry for jumping.
I'm a little excited, you know.
I mean, if I'm missing stuff, feel free to, you know, take it in a different direction.
I'm just going for the...
Yeah, it's good.
So I think there's a few different...
We are launching tokens.
We are launching our own fungible tokens.
And I don't want to overpromise on anything.
So I don't want to put a hard date.
But I also can definitely say that it's not far away.
It's not far away at all.
And our fungible tokens serve a few different purposes.
One is simply being the base quote currency for all the transactions happening, item transactions happening in our world.
So for perspective, in our Web 2 application, we have about 2 to 3 million transactions per day.
People buying different 3D items.
There's 2, 3 million transactions every day.
Sometimes it's more.
And so it's obviously, you know, our Web 3 play is going to be a little bit different because...
So to be fully transparent, we haven't exactly decided where we would build our Web 3 gaming dApp.
We think for scalability reasons, we are looking at mostly Layer 2s.
And we have a couple of thoughts because we've been looking at this since last year.
But it'll be one of the, you know, names that you could probably think of when you think about EDMs and Layer 2s.
So that's going to be there.
But, yeah, so a lot of, like, the base quote currency of all the transactions, that's one aspect of our tokens.
The second aspect is governance.
There's going to be an ample amount of community treasury, a lot of different types of resources for the holders and NFT holders and token holders and the users to kind of, you know, contribute to the direction that different types of content or games or apps.
So we'll be built on the platform.
So governance and then different types of staking involved, whether it's, you know, NFT-based yield to fungible token yields, a lot of different types of staking available.
One of the things that we're trying to do, and we've been publicly pretty committed to this for a long time, is we have different districts in our metaverse.
And, you know, just as in any large city in the world, you know, let's say New York or wherever, you have a financial district, you have a district that is more artsy, you have, you know, a district that is more about, you know, about different types of food, you know, different pockets of space have different identities.
And initially we are opening with four different districts and those districts, the themes of those districts are finance, gaming, arts and entertainment and fashion.
So, for example, if you were to walk into a fashion district, you would have, and we actually already have more than 200 partners, like signed partners, because we've been doing this for a few years, ranging from the likes of Starbucks all the way to Samsung or Gucci or Selena Gomez, BTS, Blackpink.
So a lot of different partners. Those partner, we will curate people and also work with our very good Web3 partners, like whether it's a D-Gods or a Pudgy Penguins or, you know, Sappy Seals or Artblocks.
We have those friends as well. And we will, if you walk into a fashion district, you'll see storefronts where you could purchase limited editions of wearables of these different types of brands and IPs.
And then if you go into a financial district, you could have like a 3D storefront that is basically a UI for a swap or a DEX experience or some kind of an NFT-based lending protocol.
If you go to a gaming district, then you walk into there and then you'll see various types of portal games, different types of storefronts, UIs that will allow you to access a first-person shooter, a role-playing game, etc.
So every district has its own theme. And then I guess the NFTs that we are launching in a little bit that are our Genesis NFTs are randomly tied to each of these four districts.
So if you mint something, if you mint a home, NFT, and it happens to be a home in the DeFi district, well, you get to participate in the governance as well as the profit-making of things that happen in that DeFi district.
If you mint something and it happens to be in the fashion district, then, well, you get to partake in the governance and as well as the profit-taking of the transactions that occur in the fashion district because there's all these transactions occurring with 3D wearables.
So that's kind of, you know, we're mirroring a lot of what we do with IRL in a way, not all of it, but some of it, and just trying to bring value to a lot of our community by mimicking things that actually work and aren't broken.
I love that. Yeah, I was looking at the districts. I think it's super cool. And I think, you know, people will be excited to see which district they get and then all that.
And I think it's important to say that the NFTs are basically giving you a profit share, right? But anybody can go into any district and participate in the activities, right?
Yes, yes, totally. It's totally open. It's just that if you do hold certain types of NFTs like the Genesis NFT or some other NFTs that we will also launch down the road, well, then that kind of gives you a little bit of an edge in terms of maybe accelerating your activities or, you know, being able to, you know, vote on proposals a bit more, things like that.
But yeah, generally it's free to play, very open-ended. And even if you don't put down any money, that's totally fine. You can come in, spend time, work on your assets, your land, your avatar, things like that, and then build your inventory and resources to be able to partake in this virtual economy.
I love it. And I'm wondering how much of a sandbox are you looking to create from this? Like how much, I know with the SDKs, you're giving a lot of leeway to creators.
Are you going to allow people to say, create their own kind of games or create their own kind of events? Or how far would you like let creators go with it in the metaverse?
Yeah, I think initially, well, the answer is, we want to build something that's super open, that allows people to build whatever they want to build. Because again, the idea is, hey, here's this virtual setting.
And if you want to be a fashion designer, you can do that and get comped for that. If you want to be an architect, or a game maker, or you just want to play the game and be a racer, or an athlete or an assassin, you can do that and then get comped for it.
So definitely the idea is to make it open. It's just that as we've operated an open metaverse in the past, and now, we've seen that a lot of people have ideas that might not make everybody happy.
So if we've, we've, we've, we've operated this creator tool for a while that lets people publish their own wearables, their own, you know, 3d skins and items.
And then, probably, I think every day we have anywhere between 10,000 and 100,000 different items that are being submitted for approval.
And we run AI filters through it first to make sure one, there's no like IP infringement, or two, there's no like pornography, or three, there's no like racial slurs or political jargon.
So we do that. And then, there's a set of human eyes that looks at these things just to double check.
But we see a lot of things that are very disturbing.
Um, so, I think it's still, you still need to, um, have some level of, um, uh, of accountability.
Uh, and, uh, you can't just let people, um, you know, say bad things or, or create bad things that are visible to everybody.
I think that's a right that can be earned.
If you've proven that you're a good actor, you're not a bad actor.
And, uh, I think that if you've shown that you're a good part of this community, then you could do more incrementally, you can do more and more, um, not to kind of, you know, uh, shackle anyone or handcuff anyone to, to like super restricted capabilities or anything like that.
It's just, um, we definitely want to make sure that it's a safe environment for people.
So there is some level of, of trying to, um, filter or curate the open environment, but the end goal is to have as open as possible of an environment so that people can ship their own things, their games, their clothing, skins, things like that.
Yeah, I love it.
I can imagine it.
It's like a super heavy lift to have to go through all of those and, you know, figure, figure out what's good and what's bad.
Now, looking back at how you kind of set the districts and everything, are you looking at anything like creating zones where it's some, I don't know, age gated or maybe curated for a certain niche where you need to, I don't know, maybe pay a little extra or agree to some terms or anything like that?
Um, well, this is kind of where, I guess, uh, we have even, uh, differing opinions, even within the team.
And then we're also open to a lot more suggestions from the community.
Um, maybe it's not what you're referring to when you talk about age gating.
Um, just personally, I've been interested in the idea of, uh, aging for your avatar, not necessarily like in real life, you are 18 and over or 21 and over or whatever it is, but like, um, how early you joined this particular world, this virtual world.
Uh, and then what you've done, uh, all the, uh, wonderful things, the building activities or the consuming activities that you've done kind of add to your credibility in some form of an age, uh, that is just relevant in this virtual world.
And then that allows you to unlock more opportunities.
So, and I think, you know, you have this in game, uh, in games often, um, like how time is, uh, how time accelerates.
In the game is different, obviously, to how time actually accelerates in the real world.
Um, but yeah, so, so, uh, we've been thinking about things like virtual aging, but to go back to regular age gating, um, yeah, it's kind of tough.
Cause, um, you know, it depends on the level of KYC and like what you actually do to collect different types of data from, from users.
So I think it's a little bit, it's not impossible at all, but it's a little bit tough.
And some of it goes against the grains of what we're used to in Web3.
So while we would try to make sure that it's a safer environment, um, I don't think that we would do things in a way that also kind of, um, um, shakes the foundation of what we're, what we're used to in terms of freedom at, at, uh, in a typical Web3 setting.
Yeah, I, I, I love that.
I love those thoughts.
And as you're speaking, I was thinking, how can you actually have this proof of validity, you know, sort of mechanically, because there are some barriers there, right?
I mean, you can look at people, if they're only posting pictures of birds, they're probably not on the same level with someone that's using the financial to, I don't know, some type based derivatives and make a profit there.
Right. So you can tell if there's someone that's more adept on the DeFi side or someone that's simply more on the art side, but it's like you said, it's really, really tough to set them apart.
So, um, uh, you know, kudos to you for, for having a go at it and, you know, being successful with it for as many users and as many filters that you set in place so far.
So, uh, uh, amazing to see what, uh, what, uh, what comes next.
Yeah, I think we're, we're still pretty early.
I mean, it's not like 2013 Bitcoin days, but, um, it's, we're still pretty early as an industry.
And I think it's super exciting to be here.
It's always exciting to be in a bear, um, because, um, there's less noise.
And, um, I think a lot of us will agree that, um, going into the next cycle, the next bull run, um, we can expect even more dramatic, um, all time highs and more dramatic, uh, altitudes to occur.
I think, um, it was really interesting to see different types of pension funds come in last cycle.
When you see pensions come in, you know, this thing is here to stay.
Um, and it's too big.
I don't want to say too big to fail because there can always be fuck ups.
Um, and we've seen a lot of fuck ups last year, but, um, I think it's just the, so many different types of people are engaged in, kind of locked in, into crypto now that, uh, it's just, it's not like this is ever going to zero at all.
Um, I think in the next cycle, uh, there's, uh, you know, I don't know if, I don't know what the next super alpha will be in the sense of like, um, you know, summer of DeFi was one of the really big things to come out of last cycle, uh, resurgence of NFTs.
We, we had punks and crypto kitties, you know, two cycles ago, but last cycle was kind of like a big boom for entities.
I don't know what the next alpha is.
However, I definitely see, um, a lot of Tretfi and Web2 brands, uh, kind of knocking on the doors and then coming into the space.
And, you know, quite a few of those are NGMI just because of their approach to things.
Um, but quite a few of those are also going to make it and are going to be great.
And I think it's those types of things that can help us go from, you know, a few hundred thousand active wallets to, uh, tens of millions of active wallets.
Um, so, uh, it should be a pretty good cycle.
Um, and all we want to do is, yeah, we have a, we have a lot of users.
We have a, you know, a lot of brand partners.
Uh, we're doing okay, but, um, in the grand scheme of things, we are just one player, one contributor in the grand scheme of things.
And, but what, what we do want to do is just kind of contribute to making sure that, um, you know, crypto becomes a lot more mainstream.
Uh, I don't think we're going to see the end of that next cycle.
It's probably going to take a couple more cycles, but, um, there's a lot of things that not just us,
but every other project, whether it's a super, you know, crypto native project or more of a trend vibe project, doesn't matter.
I think there's a lot of things that we can do in the next two to three years to make sure that, you know,
people from your grandma to your grandchildren can get onto crypto.
Yeah, we're, we're waiting for the new wave of adopters and you're completely right.
Bear markets are for builders.
We've seen a lot of good stuff come around and for everyone thinking that the new wave of adopters is, uh, I don't know,
two X DJs or PFP collectors or anything like that.
You should take a look at some of the young minds coming into crypto and all these blockchain clubs and all these students,
young thundercats that are going to build the future of DeFi to have more access to information that we had 10 years ago.
They're more hungry than we've ever been.
And so it's a super exciting space.
Um, now here, here's something that I'm always curious when it comes to ecosystems where there's gaming involved.
Um, uh, are you going to have any type of token sinks or what's, what, what will be your approach to scarcity?
Will you just, uh, let users generate their own content and then derive the value from there or, uh, yeah, I'm more curious on that side.
Um, yeah, it's a fair question.
And, uh, I think we would also, um, we would also release, uh, details on these tokenomics publicly, uh, step-by-step.
But yeah, um, if you're looking at it from a purely like a, uh, an investment perspective, um, there are things that we think about to reduce, um, inflation.
And, uh, but one of the things that we're kind of bullish on is, um, it's, uh, it's a half answer, but, um, so there's some, there will be a level of transactions, whether it's for wearables or whether it's for game entry passes or whatever it is.
There will be a lot of different, uh, transactions that occur in our world and we will be taking a commission, um, on these transactions, uh, something that is pretty market standard, not nothing crazy.
But the, the thing that is a little bit, um, that we're placing an emphasis on is we will put some smaller part of those revenue streams into our treasury so that we can pay for operating costs.
But the bulk of those revenue streams will be placed back into the community treasury and then we can talk about, um, how to redirect those revenues into spending for things that our holders or community wants.
We can talk about burn, we can talk about a few different things, but, um, it's, uh, the, the bulk of our revenue will be just redirected to the community treasury.
Uh, and I think that is, um, one of the ways that we want to make sure that there's value accretion at every level to our token holders.
I love it. Yeah. I mean, you wouldn't respect me if I wasn't trying to fish for some of these, uh, information ahead of time, but, uh, I gotta try.
No, I, I, I love, uh, I love the vision. You know, I, I like that you already have a system that's proven to work in the web two space.
And now carefully I'm boarding it into web three, going about it in a slow and steady way and offering people, you know, the opportunities to get involved early on.
I think same as you, we're still pretty early on when it comes to web three and crypto.
Um, I have a community member, Captain Levi up here, that's been waiting for, uh, to ask a question.
I want to, I want to let him, uh, ask us a question and then, uh, I'll, uh, I'll, I'll get back.
Captain Levi, you have a question for Rudy or the team here at ZTX?
Just, uh, go for it, sir.
Yeah.
Yeah.
Um, could you guys hear me all right?
Yeah, yeah.
I can hear you.
Go for it.
Okay.
So I, first off, I really love, um, there's a picture there I saw on your website.
I would need your permission to, you know, take it on my system because, uh, it's, I don't
think my LCD screen is actually doing justice to, you know, the details of that picture.
It's a really cool picture.
One of the pictures on your website that, um, a guy and a girl in some kind of virtual
environment.
I don't know if you guys know about it.
Yeah.
Um, I think you're referring to one of our, um, one of our images, um, with maybe like
the guy sort of, um, squatting and, and then there's a girl.
So, so first off, do I, can I take that picture to my system to make a really great wallpaper
for my system?
Um, you know, I'll tell, you know, I'll tell my friends about, you know, the ZTX platform.
Yeah.
As long as your system's not showing, you know, weird rugs or pornography or, you know, as
long as it's not that we're cool.
Nah, it's, it's a really cool one.
I, I really love it.
I, I just wanted talking about, um, you know, the 3D mechanics I saw in your white paper,
um, from, from what I understand, you, you guys will be building, um, mostly on 3D, but
so far during the AMA, I haven't really heard you guys talking about, um, AR and VR, um,
are there plans to, you know, do AR and VR related, um, events in the far future?
Ooh.
Um, hmm.
Hmm.
Yes.
And no.
Um, so, uh, we're pretty big fans of AR and VR.
Um, I think, uh, that whole space really needs some Goliaths to kind of spearhead the, the
movements.
So, um, I, I, I think, I think we've had some false dawns literally like since 10 years ago,
the, the head, head mounted display space has been around for actually a really long
time, like decades, but, um, with the unsuccessful attempt from Google, uh, uh, maybe like a decade
ago, I think it's kind of accelerated.
And then we had a pretty decent boom, 2015, 2016 with Oculus, early Oculus, and then, um,
Pokemon go and things like that, uh, for AR and VR and to some degree, Snapchat as well.
Um, I think though, uh, the Apple glass will be really interesting to look at.
And, you know, obviously we don't know when that's going to happen, but we've seen the
patents and things like that.
And I think it's a couple of years, it's not that far away to three years.
I think for a first iteration, probably, probably a lot less actually.
Um, but yeah, I think Apple glass would be really interesting, um, for the industry.
And once that happens, AR should be, you know, buzzing, like chat GPT is buzzing.
Um, VR, I think is a lot more controlled environment.
So it's very appropriate for gaming education, um, just because there's like, you know, 30,
40% of, um, uh, of women that, you know, biologically, I forget what the exact scientific
rationale was, um, just a humanities person, but many different studies have, uh, said that,
um, just the way that VR is structured, it's, uh, less, um, what's less palatable for, for
women.
And if so, then if you're losing out on half of the world population, it's just, uh, you
know, there's a, there's a limit to how far it can scale.
And it's not even about that.
It's not even about the gender thing.
It's also about just VR being a closed off environment, uh, that kind of cuts you off from
reality.
Whereas AR, uh, is see-through and you can interact with your IRL environment a lot more real time.
Uh, so I feel like generally AR would have a lot more applicability, but going back to
your question, yeah, we definitely have some thoughts about AR VR and how, how our applications
would kind of feed off of that.
Um, I think one area that we would look at is AR filters, um, camera, AR filters, leveraging,
um, different 3D avatar assets so that you could use them in your real-time content generation.
Maybe some of it is live stream, maybe some of it is not live.
Um, but, um, uh, it's definitely a space that will grow more and more with the advancement
of head-mounted display technology.
And we want to have some, you know, be able to play some part in that.
Um, and it's not, it's not only, it's not only games, uh, that I think will be interesting
because we're also in the business of virtual identities, having some, uh, mechanism to display
your virtual identity in AR VR, I think is also a lot of value add.
So that those are some of the big keywords that we would be thinking about as we kind
of think about how to, um, how to make our footprints in the AR and VR space.
That's, that's really awesome.
That's pretty unique.
I, I think, um, I stumbled on the research about, you know, the effects of VR on women
and talking about, um, something related to, you know, motion sickness.
Uh, I really hope that the technology gets fixed soon so that everyone can, you know,
take, take part of the fun.
Um, the, the next thing that's caught my attention is, um, the ownership, um, methods on, on the,
uh, on the platform, um, made mention of the ownership of land in the physical world is
inaccessible to most of the population, permutating the same limitations in the metaverse
that, that diminishes users' experience instead of empowering them, um, this counterintuitive
for a project aiming to establish new frontiers, um, uh, the question that came, come to my mind
or that comes to my mind rather is, um, shared ownership.
Can two people share ownership of an asset?
So can people or different wallets share, uh, ownership of a real estate NFT or, or a wearable
NFT or whatever it is?
Is that the question?
Yes, that was the question.
Well, I think fractional ownership is something that's been, um, kind of, uh, touted for a
while and we certainly would, wouldn't be close to that.
I think it depends on what type of asset and maybe there's a time limit on these things,
or maybe it's more of a lending protocol.
Um, but, um, I, I definitely feel like, um, we're already in our physical world.
We're already in a world of, um, shared ownership versus, uh, not versus shared ownership and like
a time-based ownership of things.
There's timeshare on various types of assets and properties.
There's, uh, there's lending for various types of consumables.
Uh, so I don't think, I think it's very natural that we would think about alternative ways
of ownership for virtual assets as well.
Whether that means, um, like, uh, uh, fractional ownership.
Again, I think it, I think it depends on the asset class.
Is it something that can be split, um, just common sense wise?
Then I think we could definitely think about fractional ownership.
Uh, if it's, it's like a, I don't know, I guess I was going to say if it's like a, an
entry pass into a virtual game, maybe, maybe that's less fractional or I was going to say
that.
And then I realized, well, we have like, we share Netflix passes.
So maybe that's not actually a weird thing either.
Um, I think these are case by case.
Uh, the, the TLDRs were not against that at all, just because it's already something that
has traction in the real world.
Um, but yeah, um, maybe you can help us out, uh, as we think about, uh, what to fractionalize
and what not to fractionalize.
Yeah, I, I strongly believe that the community will definitely be able to make premium decisions
when it comes to that.
And, uh, I'm sure that your well-experienced team that you've got that will also be able
to provide, um, good hints regarding, um, you know, fractional ownership in the best way
that it's, you know, profitable to you and those who, and anyone else.
That will participate.
Um, I do have a few more questions, but I will ask one last question before, um, giving
it back to Akshi.
I'll be asking the rest of my questions in your groups when I have aligned my train of
thoughts.
Um, could you tell me more about the materials that will be generated?
Um, I'm seeing here that, uh, on your white, on your light paper, that in-game resources
can be harvested in exchange for gold and used to craft assets.
Um, could you talk more about this?
And, um, could you explain how the material harvest life cycle works?
Yeah.
Um, so we have some insanely talented people on our team, not myself, but we have, um, people
that have been designing game in game economics at, um, EA or, or, you know, a lot of different,
um, tokenomics slash financial design from Dapper or, uh, people that were literally in
the first, uh, first, uh, five to 10 people at Epic.
Um, so a lot of very seasoned people that are, um, working at ZTX to develop game design and
specifically in-game economics.
And this is where things like, you know, soft currencies come in, um, gold resources, things
like that.
Um, the idea generally is to, one, um, in the real world, uh, I keep saying real world.
I hate saying that, um, uh, I don't know what to call it in the physical world.
Um, I, I, only because I feel like the virtual and the digital is, um, equally as important
as a physical world, but anyway, um, you know, you, you have to put in time and effort and
resources, whether it's money or something else or relationships, social capital, whatever
it is to get to some point that you want, right.
To be able to have a following on Twitter, to be able to develop an NFT project, to be able
to get a job somewhere at IRL, right.
And we want to mimic that, um, we want to reward people that have ideas and are passionate.
And so there is this process of you needing to, uh, you know, find resources, accumulate
resources, use them to craft different items and then make a name for yourself or make a
following, et cetera.
So that's just that basic, uh, flow is that we're all used to is something that we're trying
to replicate to a degree, um, not exactly in the same way, but to a degree in our metaverse.
And that's where the whole idea of resources come in.
It's, it's something that has been, you know, tried and tested in so many MMORPGs, uh, different
types of games like, you know, animal crossing.
And so it's not an alien concept.
Uh, but we're just trying to make sure that we don't fuck up the tokenomics through this,
which is why we're like so careful about kind of, um, launching this.
And of course it, it helps that we can always edit, edit, uh, some parts of these tokenomics
and game economics through the help of our community, whether it's through proposals or,
you know, just, just chatter on discord.
That's fine.
Um, so we don't think once we ship something that it's, you know, it's, it's, uh, we don't
think that that is, um, uh, immutable, but, um, we do want to get it right as much as possible
on the first go.
So, uh, we're thinking hard about, uh, in game economics, but, um, it's, it's, uh, it's
not a, it's not a detailed answer into the question that you're asking.
Um, but I, I don't know if, uh, Connor, you want to add a little bit more color to this?
Uh, sorry to put you on the spot.
Uh, you don't have to, but, um, yeah, we'll definitely share different documents down the
road about the in-game, in-game economics and token design.
But what I just said speaks to, I guess the 30,000 foot perspective.
Yeah, I, I think Rudy covered it pretty well there.
Um, I don't have a ton more to add except for just consistently coming out with, uh,
awesome things to craft and build is going to be a specialty of ZTX.
And I think people will really have a fun time using, um, the assets and the tokens.
I, I really appreciate the detailed answers to my questions, guys.
Um, thanks a lot for, you know, taking all the time and, uh, I, uh, everyone, everyone
has, uh, an immense level of experience in the field.
So basically, um, they, they all have a specialty.
So one isn't really more experienced than the other.
So, um, the, the answers to my questions were detailed.
I really appreciate that.
Um, I'm wishing you guys the very best.
Um, you guys will be definitely going places and I hope that the ZTX project stays bullish
more than what, um, thanks a lot, Akshi over to you.
Thank you for the questions there, Captain Levi.
I want to be cognizant of everyone's time.
I know we went a little bit, uh, over time here, but Rudy, Karma, Connor, this, this
has been a tremendous, it's been great.
I learned a lot, uh, you're building something super cool.
So, uh, before I let you go, is there anything that maybe we haven't touched on or something
important?
I know everybody's excited about the Genesis NFTs and all of that, but is there anything
that I haven't asked or something that you want to leave our community with before you
head out here?
Yeah, absolutely.
Let me maybe wrap it up as head of community and encourage all of you to go to ztx.dustlabs.com
where you can use an application portal that we've, uh, you know, co-created with, with
this brilliant partner of ours.
Shout out to Dust Labs for helping us on this front, uh, where you can apply to be considered
for the allow list for the ZTX Genesis Mint.
Um, so, you know, we look forward to reviewing your applications.
We are genuinely doing our best to curate a community and make sure that these Genesis
NFT assets, which kickstart our NFT journey, uh, you know, land in the right hands of truly
passionate users.
So yeah, thank you so much as well today for your attention to Youth Active for hosting and
it has been great.
Thank you, Karma.
Thank you, Connor.
Uh, thank you, Rudy.
Thank you everyone for tuning in today.
I know there's still, uh, probably a few questions here and there.
Just go to ztx.io, navigate the light paper, read it, and then just go and join the Discord.
There's someone there that will, that's going to answer your question.
And, uh, guys, remember everything you hear on this broadcast is meant for educational purposes.
We don't provide any financial advice here.
So, uh, be safe out there, do your own research, try to dive a little bit deeper, find something
that you like and learn to love it a little bit more.
So, uh, until, uh, tomorrow, I guess we'll, uh, we'll see you guys and, uh, take care out
there.
Cheers, everyone.
Thank you, guys.
Thanks so much, guys.
