This episode of the Blockrunner Podcast breaks down one of the most revealing weeks we’ve seen at the intersection of crypto, AI, and creator monetization.
What began as a promising experiment in creator capital markets quickly turned into a live stress test for liquidity, incentives, and trust. We walk through the rise and collapse of the Ralph token, why it initially made sense, how it gained traction, and why it unraveled the moment the creator sold. The fallout wasn’t just about price action. It exposed deeper structural problems that most internet capital markets haven’t solved yet.
From there, the conversation expands into the accelerating timeline toward AGI, why looping AI systems and agent swarms change the nature of work, and what happens to human purpose when intelligence becomes abundant. We react to Davos conversations, including moments where Bitcoin is openly laughed at by legacy financial institutions, and explain why those reactions reveal more ignorance than confidence.
We then tackle the uncomfortable question most Bitcoin holders avoid: how the network remains secure long-term. Transaction fees alone are not a viable answer. We explore why Bitcoin’s security budget faces a real challenge over the next decade and why a second subsidy may be the only credible path forward without changing Bitcoin’s core protocol.
This episode ties everything together into a single thesis. Internet capital markets are early, powerful, and inevitable, but without proper incentive design and liquidity structure, they will continue to fail in dramatic fashion.
If you’re thinking seriously about AI, crypto, creator monetization, and Bitcoin’s future, this episode will challenge your assumptions.
Learn more about the second subsidy thesis at natgmi.com.
We receive a very insightful question from somebody who watches this podcast who has been an active participant in the things we have been building. The question focuses on tying together $NAT, Bitmap, NATRIX, DMT NATs and UNATs into a sensible overall understanding how all these creations interplay with each other. We discuss how our thesis of metaverse maximalism has influenced just about everything in relation to what we have been building on Bitcoin. By understanding the economic requirements of the metaverse and the need to introduce digital commodities for the metaverse market on Bitcoin, $NAT and the DMT framework ws built in order to maintain non-arbitrary principles Bitmap introduced for this new asset class. NATs and UNATs all are created through the utilization of Bitcoin block data, thus giving their existence a forever association to Bitcoin as opposed to arbitrary token creations. We describe the NATRIX as the culmination of all these technologies by bringing the DMT commodities market into a composable application environment that can be hosted by Bitmap parcel owners. The real mission to increase interest in metaverse asset ownership and to kickstart a UGC economy that accelerate the proliferation of content and experience for metaverse users. We do so by leveraging $NAT as the face of the ecosystem in order to introduce the principles of DMT in the manner that poses the least friction. With $NAT token interest surging, more will discover all other DMT creation from art to the metaverse. What does this all lead to? Hopefully a metaverse economy with truly unique economic properties related to what makes Bitcoin valuable and in the end onboarding a larger user base to Bitcoin who are less interested in Bitcoin financial application, more so inclined to participate in the nascent metaverse journey.
We discuss with the creator of Inscripedia everything related to the book publishing industry and how Jiurn is working to build a platform and an inscription standard to address major centralization dilemmas. Through inscriptions details of publications can be stored on Bitcoin in the form of a BRC600k. This enables platforms like Incripedia to reference these inscriptions and properly display the contents in a more readable and user friendly format as opposed to just a blob of text viewable on an explorer. Jiurn strives to create an active market around book publishing and will be demonstrating the product with his upcoming launch of Season 0. This mint will include 5 books from Casey Rodarmor, the creator of the Ordinals protocol. We also discuss with Jiurn the exciting possibilities of leveraging the Inscripedia methods to incorporate books in the metaverse which will allow holders of these mints to flex their collections on a Bitmap.
We sit down with the leader of Skullx community, Knox who shares his background with the collection as an early day participant when it was based on Ethereum, to now fully taking over as community lead and bringing the community to Ordinals. We ask what motivated that transition and speak about the opportunities that lie ahead for Ordinals and the Bitcoin ecosystem. Also, we dive deep into the mindset of a community leader attempting to foster a cult like alignment among holders to push a common cause. With memes taking front and center stage for the moment, how can NFT communities achieve the same hive mind effects to achieve greater market heights. We discuss what the upcoming Skullx Infinite collection is all about and how Knox plans to position this collection and community as a force within Ordinals that reflects the positive elements of having a Bitcoin native presence.
We sit with the team at Bitmap Studios and discuss all things metaverse on Bitcoin and DMT. Bitmap Studios is launching a new avatar collection called The BitAvatars in a few days (Oct 24th) on Mscribe. This will be a UNAT collection, sharing the same element pattern as Natcats, giving the non-arbitrary supply of 8,064.BitAvatars are unique 3D models with interoperable use cases in mind. Already these avatars will be functional with FOXXI’s Bitverse, Inscribed.Space, and The NATRIX. This focus gives tremendous ability to these avatars and their access to a wider range of experiences for holders. We discuss how Avatars can serve as a killer onboarding vehicle for new users of a Bitmap. We then discuss Bitmap Studios recent developments in the NATRIX which showcase the ability for creators to leverage MML and Bitmap parcels to produce engaging and showcase worthy experiences. We go deep on DMT application within the metaverse economy and highlight how blockdrops are being leveraged to amplify the metaverse economy.
We receive a very insightful question from somebody who watches this podcast who has been an active participant in the things we have been building. The question focuses on tying together $NAT, Bitmap, NATRIX, DMT NATs and UNATs into a sensible overall understanding how all these creations interplay with each other. We discuss how our thesis of metaverse maximalism has influenced just about everything in relation to what we have been building on Bitcoin. By understanding the economic requirements of the metaverse and the need to introduce digital commodities for the metaverse market on Bitcoin, $NAT and the DMT framework ws built in order to maintain non-arbitrary principles Bitmap introduced for this new asset class. NATs and UNATs all are created through the utilization of Bitcoin block data, thus giving their existence a forever association to Bitcoin as opposed to arbitrary token creations. We describe the NATRIX as the culmination of all these technologies by bringing the DMT commodities market into a composable application environment that can be hosted by Bitmap parcel owners. The real mission to increase interest in metaverse asset ownership and to kickstart a UGC economy that accelerate the proliferation of content and experience for metaverse users. We do so by leveraging $NAT as the face of the ecosystem in order to introduce the principles of DMT in the manner that poses the least friction. With $NAT token interest surging, more will discover all other DMT creation from art to the metaverse. What does this all lead to? Hopefully a metaverse economy with truly unique economic properties related to what makes Bitcoin valuable and in the end onboarding a larger user base to Bitcoin who are less interested in Bitcoin financial application, more so inclined to participate in the nascent metaverse journey.