We break down the state of the Meme economy and make comparisons to what we saw in the 2021 bull cycle. Memes on Solana have strong parallels to the NFT market on Ethereum from last cycle, especially when you compare revenue figures of the top marketplaces like pump.fun to Opensea. We give our thoughts on where we are on the timeline of meme mania and speak about the impacts memes are having on the broader crypto market. This includes methods of launching new projects by leveraging memes as a more user friendly go to market vehicle to onboard community and then adding complexity layers down the road to not off-put sentiment.
Also, when it comes to marketing narratives memes seem to be dominating the mind share so we discuss how we are approaching $NAT from a marketing perspective. Now that $NAT is weeks away from officially becoming Bitcoin’s second subsidy reward coin, how we classify this new coin is important for public perception. Some do not see $NAT as a candidate to fit within the existing market demographic of memes and rather see a new narrative formed around the coin that distinguishes it from the meme asset class due to its technical provenance to DMT and the broader mission of supplying Bitcoin miners with additional subsidy to sustain network security. We discuss our thoughts on this and also the liquidity dilemma when it comes to supporting Bitcoin assets. All sectors of the Bitcoin ecosystem are facing this problem and are actively working toward building solutions that can either bring more liquidity to Bitcoin from other chains or port Bitcoin native assets to other chains like Solana to benefit from those capital markets.
With Bitcoin on the rise again, the time to look for the next big crypto sector becomes much more important. Time will be running out soon to secure a position prior to a market rise for the crypto AI sector. What should we be looking for when evaluating crypto ai projects? First, the fundamental value that will result from web3 ai startups must be identified and how will that product be superior than what the traditional more centralized ai companies can produce. Personal.ai demonstrates their version 1 of their flagship product allowing users to build historical memory stacks overtime through communication on their platform. This information can then be utilized by anybody looking to communicate with you by being able to recall your entire history.
The metaverse continues to progress despite its bearish sentiment. Fortnite has released a tool called creative 2.0 which is allowing creators to spin up their own games leveraging the Fortnite engine and its resulting in a boom of AAA quality experiences without the need for AAA game studios. This is huge for the UGC wave and will onboard many more people into the virtual space to find new ways to create value. Improbable and M2 also has been demonstrating some amazing technology designed to support the metaverse. One enabling thousands of concurrent users to be in the same shared space and the other a coding standard for developers to build interactive content that is deployable across any virtual environment connected to it. Also, how Twitter leverages this new technology to improve the experience of Twitter be the town hall of human civilization
We discuss how the Federal Reserve is responsible in controlling the economic outcome for the U.S. The mechanics of Inflation and interest rate adjustments and how this affects the economy. Is the banking collapse of recent days a coordinated ploy by the United States Federal Reserve to slow down the economy in order to regulate inflationary pressures? Also, how is China’s positioning in the global economy impacting their decisions to launch their own CBDC and is the anti-China narrative proliferating in media intended to lead the U.S. into a future conflict with China? Also, how will technology and innovation fix the impending problems a financial system collapse, and A.I. and automation poses to the economy of the future. Will humanity escape to the metaverse to find its new purpose.
Boson Protocol is working on building the digital commerce layer for the metaverse and the web3 space as a whole. With entrants like Amazon coming into the space with their own NFT ecosystem, decentralized protocols that can facilitate physical redemption through the use of NFTs are needed. Boson has built the protocol to ensure trust is autonomously setup between buyers and sellers of digital and physical goods without the need for a third party intermediary. Boson has an established presence in the metaverse, specifically Decentraland, and is leveraging the virtual realm to prove the utility of their protocol by allowing in world users to mint rNFTs which grant them the ability to redeem them for real world products. Already major brands are working with Boson to be a part of this network that is open for anyone to leverage.
We recap our experience at ETH Denver and speak on how much tension in regards to U.S. regulatory stance and a whistleblower presenting on main stage the banking collapse and targeted crypto attack that was around the corner. What is driving the U.S. governments desire to label crypto as a systemic risk? What is causing banks like Silvergate, Silicon Valley Bank, and Signature Bank to collapse? Are more banks going to fail and what does this ultimately mean to the status of the dollar and the global economy as a whole. These current events may be the beginning of a financial collapse that will be greater than 2008, how will Bitcoin prove to the planet that it is the safe haven escape away from the issues of traditional finance. Will this be the catalyst to Bitcoin on its way to a million dollar valuation per BTC?