1/35, About why the Metaverse needs encryption, especially why the Metaverse needs NFTs. Crucially, the ownership layer of the metaverse ends up on a public blockchain rather than a private database.

2. The first topic: What is the Metaverse? Facebook? Is it Epic? Is it Apple? Is it Otherside? Decentraland? In my opinion, neither, the metaverse is not these things. The metaverse at the most abstract level is the Internet, but it differs from the Internet in two ways.

3, The first difference is that the visualization layer of the Internet will get better and better. Today, we have free global video conferencing and 4K movies on the Internet. We didn't have it before, and ten years from now, we'll have feature expansion and mixed reality.

4. What is "extended functionality/mixed reality"? Imagine a pair of size/weight/style sunglasses. The glasses will be able to switch between normal reality, augmented reality (where digital objects overlay your field of view) and virtual reality.

5. We spend most of our time in augmented reality, not virtual reality. Imagine augmented reality technology breaking the shackles of laptop and phone screens. Imagine walking down the beach without picking up your phone to read a notification, only to see it in the corner of your eye.

6.Imagine a colleague teleporting into your office to chat or brainstorm with you, and they look more or less like the real thing. Big Brother, if Zoom/COVID reduces business travel/business travel, imagine what you would do if you could teleport?

7. You will occasionally jump into virtual reality. Perhaps you want to walk around a room with data and files with your colleagues, a virtual workspace. Maybe you want to check out a hotel you plan to visit, walk over to see the beach, and check out the pool.

8, but you'll be in augmented reality most of the time. For the knowledge worker (me) who stares at a screen all day, this should be an improvement, not a decrease, in the quality of life. Less time on the screen, more time in a more natural user experience.

9, And it will also start to be used for commercial purposes, where physical location becomes irrelevant. Basically everything will be close to real life except real world eating and drinking, real social parts, no travel.

10, Meanwhile, there will be better and better 3D spaces on our computers. Walk around and check out the NFT gallery @OM100m (Metaverse Project), no special gear required, obviously better than seeing NFTs in 2D on OpenSea.

11, You can of course also enter @OM100m with VR goggles, but in reality, VR goggles are still annoying today - bulky, bulky, and short battery life , clumsy, I spend 99.9999% of my time in OM on my laptop.

12, But it will be an improvement, an incremental improvement, the browser-based world will get better, augmented reality devices will get better. Little by little, the visualization layer of the internet will get better and better until virtual and reality become indistinguishable (maybe 10 years, maybe not).

13, As the visualization layer of the Internet gets better and better, digital objects will become more and more useful and important. Virtual characters (2D and 3D), art, assignments, jobs, 3D virtual spaces and hundreds of other things.

14. Not only do the objects themselves become more important, they cause different emergent behaviors. We've seen this in avatars and hybrid anonymous/anonymous/anonymous communities. Yes, it's an underground network conduit, but…

15.Just as social media changed people's behavior on the Internet, a metaverse world type experience will change it further. NFT Twitter + Discord + various virtual worlds are a form of early metaverse world. I feel like I'm entering a different world than just some websites.

16, The most important issues for the health of the Internet/universe/human society in the 2030s will be decided now. The question is "who stores the record of ultimate ownership of these digital objects"There are two answers: the company's database or the blockchain.

17. If we end up with "one company's database", we'll end up with all web2 dysfunction, or worse.SMTP (Transport Protocol) is an open protocol that anyone can use, so we don't have a social debate about who can use email, and web messaging eventually morphs into Twitter .

18, And so we had the most absurd, surreal discussion on the topic of "who can use SMS", which depends on "who is the CEO of Twitter." This is by no means the right architecture for our increasingly digital economy.

19, This is a no-win situation for everyone, including Twitter. It's impossible for Twitter to rank 8 billion people around the world every day and decide who's naughty/cute/kind enough to use text messages.

20, But if the metaverse ends up being like the social network it is today, all your (important) digital assets have an API key and terms of service agreement behind them that will It gets worse in multiple dimensions.

21. The first reason is rent-seeking. Facebook proposes to extract up to 47.5% of revenue from each virtual reality object. Why would anyone, especially any non-US economy, donate the equivalent of 50% of their digital GDP to Facebook? That's more         higher than the rate of extreme socialism!

22. The second reason is "fear". The metaverse world will be your permanent space/environment, digital reality.  It's scary to be in the dark if it can be flagged based on an algorithm or a random customer service rep gets banned and you could lose everything for no reason. (many web2 applications can             to perform some unreasonable black box operations)

23. The third is political security. It's odd enough that Twitter and Facebook are in the odd position of having to decide who wins an election, whether a coup takes place, etc. The situation is 100 times worse for the people of other countries that have no voice.

24, the fourth is: global national security. Augmented reality works by pointing the camera at your field of view, imagine if I sent a web2 executive a camera: "Please put this on your head and your family's head, upload the data to 6529 A server (analog: a database with a privacy risk         privacy risk), don’t worry, I have a privacy policy.”

25, Obviously, if I did this in the metaverse world, I would be laughed to death. But that's what the tech giants will do in the coming years.

26. What is NFT?  A standardized, interoperable, portable, decentralized, autonomous, user-controlled, cross-application approach to storing any digital object. In the simplest terms, any application that integrates ERC-721 can integrate punk6529.

27, This is a very superior way to support innovation and interoperability, your web2 digital objects are stuck. It's basically "impossible" to get an API key, see if your service allows it, and integrate every service and other services with programmers (it's impossible to see your information without your authorization).

28, And with open protocols, all these problems go away, it's like hyperlinks or HTML. Anyone who integrates the ERC-721 or ERC-1155 standard can integrate digital objects. There are dozens of applications for our encryption today, and one day we will have hundreds of thousands.

29, It's pretty simple at the end of the day, anyone who says "no, I don't think NFTs are the right place to store digital objects" should be asked "OK, do you think the In which company's database are they stored and why is this better?"

30, In the near future, see politicians in the US and EU more or less vaguely identifying the problems of web 2 while interfering with Web3 solutions, smashing them with a hammer It's going to be funny, it's going to be sad, it's going to be frustrating.

31, The answers to all these mandatory "interoperability" rules are on everyone's face. Today, you can own all the assets and identities of your users on a public blockchain. Bitcoin is just for money, NFTs are for "any digital object".

32, My view is that the US should promote user-owned data for innovation reasons, and other countries should do the same, both for innovation and for national/economic digital sovereignty The reasons why the digital economy will be huge in the coming decades.

33, It will absorb most of the white-collar economy and even take part of the market share from the real economy. Sure, we will have houses, restaurants, hotels and power plants, but more and more work/social/education will be digital.

34. Therefore, if I were to make policy, I would do two things in this area:a. Encourage the development of public blockchain systems based on digital assets/economy (easy to do ) b. Invest heavily in open source visualization hardware (hard to do, but IMHO a good bet)

35, If this is your first time here, we are fighting for an open metaverse.