EP3-P1 - Why You'll Eventually be an NFT

Welcome to Gradient Proof. This is Episode 3, part 1, topics discussed on this episode are Metaverse, NFT, Real Estate, Art, Digital Twins. With the rise of blockchains, crypto, and the metaverse, it won’t be long before digital currencies become the main medium of transactions. So today, we discuss the rising trend of NFTs, the metaverse, and why you will eventually be an NFT. As always we encourage you to drink with us, welcome to the Gradient.

In this Episode:
[00:57] Redemption Straight High-Rye Bourbon
[01:50] What is an NFT?
[06:51] The Metaverse
[15:13] Difference between Real Estate in the Metaverse and the Real World
[20:18] How Reproduction Affects Value
[22:25] How the NFT Market is Very Accessible
[27:07] NFT Additional Ownership Benefits
[31:56] Trustless Architecture
[35:34] Decentralization


Bios

Roy Peer is an architect turned entrepreneur. After working for award-winning architects, Diller Scofidio + Renfro, in New York City, he went on to start a virtual reality company, which later sold to a notable Hollywood director in 2018. Peer is the founder of PeerBasics, a data-driven products company that analyzes e-commerce sales data to drive its product launch decisions in multiple categories with multiple factory partners in Asia. Peer is the author of Simulation Arcade, a sci-fi novel that paints a possible future world when AI and brain chips are commonplace and details the way humanity meets its AI cocoon moment, and how to stop it.

Steven W Sorensen is the director of corporate finance at droppGroup / droppLabs, an AI / ML web3 video & mixed reality shopatainment marketplace and co-founder & COO of Fotin Media.  Steven calls NYC home, lived in China for 7 years, and has an MA and M.Phil in English from The University of Hong Kong. He likes jazz piano and good whiskey.

Quotes:

What is NFT?
[01:50]
NFT is a validation system. If you were to go to a bank and you wanted to get a loan, there would be steps where you'd have to validate your credentials, your revenues, and your ability to pay it back. Part of that will be authenticating documents from government sources or your identification. The beauty of blockchain is a way to validate those different pieces.

[03:17]
NFTs are popularized, whether they are very low resolution to high-resolution images. These can be 2D or 3D volumetric type things. It mimics a classical art market, in which there's the buying and selling of these pieces of art. There's the assumption of a stored value within that art. And as with any art, it requires a provenance of ownership.

The Metaverse
[06:51]
The metaverse is not so much a technology as a moment. And at that moment, society has decided that its digital self has a greater value than its physical self.

[07:41]
We're moving more into a digital world. The physical world has less value in it. If you get hit by a car, you're very fragile. With the Metaverse, you can then disassociate that from having experiences. You will be able to plug yourself and then live in an exciting world. Everyone you're surrounded by is fit and beautiful. And you live in this world with no limits.

[11:36]
The missed opportunity is that in the real world and the physical world, to have an apartment building, you're stacking some configuration over itself because you physically can't have two apartments in the same place. But if everybody in the metaverse had the same home, it's technically in the same physical location or digital location. But as you walk through that door, that's like the access key that turns it into space.

Difference between Real Estate in the Metaverse and the Real World
[15:13]
There are still some inescapable similarities in “what does a maintenance fee type structure look like?” As time goes on, the types of th