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 speak with Dirk and Bob Way from Xspectar to go over how the metaverse will have a similar buildout to the internet we have today. We identify parallels of what is needed to construct the 3D internet and what value is added through experiences in the metaverse. We also discuss the metaverse on bitcoin. Bitmap is the recognition of organic data on Bitcoin's blockchain and reimagines that data into districts of the metaverse made up of transactions now recognized as parcels of that district.
In today's interview with IMSO Chris we get an understanding on his background building for different virtual environments. With the advent of Bitmap and the BlockOut now with 800,000 districts in the hands of 17,000 people, Chris sets his sights on the growing bitmap community. We discuss what Bitmap means for the metaverse and why now is the first time we have an alignment amongst builders and landowners in a way that is built on systematic processes. We chat in depth with Chris on what he's building and how you can get involved.
We spend some time in Msquared testing metaverse environment called The Construct to see for ourselves what the developers are testing out in there with MML. While we were inside that virtual world we got to witness a developer building and deploying his creations in real-time and configuring its size right in front of us. We then discuss the continued progress of the Bitmap ecosystem and predict what has to be developed next in order for the movement not to become another passing fad within the web3 space. We also discuss our next project that will contribute to fulfill some of the market needs within the Bitmap ecosystem. This new platform will be called Mscribed, the first Bitmap-focused Ordinal inscription platform designed for metaverse users on Bitcoin.
We talk about the pitfalls of internet culture on society and how it distracts from finding true value. Information is much less reliable and trustworthy than it used to be and its becoming more difficult to process it through platforms like Twitter. What are the solutions to this dilemma and how is it impacting the human psyche? Also, SEC is continuing its aggression toward blockchain and cryptocurrencies, which is resulting in a mass exodus out of the U.S. Many giant organizations like a16z, Coinbase, Kraken, and others have already announced their plans to establish themselves abroad in reaction to these policies. What will this do to America’s status as a hub for innovation? Also, we dive deeper into Bitmap, the newest Ordinal standard being proposed to act as a foundation layer to the metaverse. This is a big deal because never has there been a standard for the metaverse and for it to all exist on the most secure and highest value blockchain in the universe, is a tremendous narrative.
We discuss the metaverse progress and newfound interest after Apple unveils their new headset. The Vision Pro is one of the most powerful consumer electric devices ever created, and Apple has spent several years developing it. Why is big tech so focused on the metaverse when the pathway to its growth isn’t clear yet. We discuss and react to what was unveiled during WWDC. Also, how is the SEC suing Binance going to affect the web3 space? In our opinion, Binance has likely committed some of the violations they are accused of, but for the SEC to umbrella label so many projects as issuers of securities without establishing any new guidelines for crypto is over stepping. Also, Binance US is not a large institution in the grand scope of crypto, so if there are any actions to freeze volume there it will likely not impact the broader market.