My content is designed for informational and educational purposes. Please consult with an advisor or a brokerage firm when making an investment decision. The information in this podcast, please do your own research and become aware of the risks when making an informed financial decision. You must understand your own risk tolerance, time horizon, and be comfortable with making a specific investment decision.
Watch this video on YouTube and subscribe to channel: https://youtu.be/3YAVO6v-1f8
This episode featured Rosco No E. Educator, Investor, Musician, & Entrepreneur discussed the future of the internet. Which will be Web 3.0, NFT’s & the Metaverse.
NFT’s stand for non-fungible token, and they are unique digital asset’s that can represent a picture, video, contract, or even a ticket to a sporting event. It literally can represent anything. Whereas a fungible item is something that can easily be replaced like the dollar.
Some of the opportunities we discussed with NFT’s is the ability to have control over content creation and adding value to your targeted audience. The utility cases can be tremendous where business owners can give clients extra services when they purchase their NFT’s or setting up a meetup where you can meet the person supporting your project.
NFT’s also have smart contracts attached to them where both parties must agree to the contract before it’s completed. The contract can’t be change and it’s automatically executed once the terms of the agreement are fulfilled.
Such as someone implementing a royalty of 5% for their NFT if it is resold to someone else in the market. The power of this is a person can build generational wealth by adding value in the marketplace and they can get paid in perpetuity for the rest of their life.
Rosco explained how Web3 will change the way we interact online with immersive experiences throughout the Metaverse and Decentralized Autonomous Organizations (DAO’s). As well as how NFT’s allow anyone to build their own community.
Web3 is essentially a decentralized protocol that will give users more control over their data, privacy, security, and creativity. It will lead to more transparency and trust amongst users because of smart contracts, blockchain’s, and digital wallets.
We talked about the transition from Web1 to Web2 and Web3 by explaining how Web1 was mostly read only on the internet. We couldn’t interact with Yahoo, Google, or AOL. Web2 introduced the communication and interaction components with social media, networking sites, and music. Web3 is a combination of digital asset's, virtual 3D worlds, and gaming that will be transformative in the world.
Creating events, concerts, and having jobs will all happen on the metaverse just like in real life. We also discussed the challenges of Metaverse and how it could put people in a deeper state than social media. Overall this discussion was all about the growth of crypto and how the blockchain will change the internet for years to come.
Rosco No E Outlet's:
Upcoming webinar on January 27th, 2022 from 8-9PM EST where Rosco will be discussing how to setup a digital wallet, purchasing virtual real estate, and learning more about crypto. You can go to https://www.digitalnftcryptouniversity.com and sign up now!
Social Media:
Instagram, TikTok, Twitter- @rosco_noe
LinkedIn- Michael Blair
Website- rosconoe.com
Insightful Principles Outlet's:
Social Media:
Twitter: @insightprinples
Clubhouse: @kevnjenkins
LinkedIn: Kevin Jenkins
Linktree: https://linktr.ee/insightfulprinciples
