MSV Podcast

Guests:

• Benny, Founder of TAP Protocol
• Jan, CEO of XVerse
• Sam Jenkins, Head of BD at Bitfinity

Top 3 Key Takeaways from Our Guests

1. Bitcoin sidechains have helped bootstrap the development of the ecosystem

The roundtable started with the speakers telling us why the ecosystem took so long to gain traction. They all concurred that the growth of the Bitcoin ecosystem was fueled by projects building on top of Bitcoin, like Bitcoin sidechains and meta-protocols (e.g., Lightning Network, Liquid), and how this has helped bootstrap development by providing more programmability and capabilities compared to base layer Bitcoin. This has attracted builders and capital and changed the culture to be more open to innovation without compromising Bitcoin's core principles.


2. Bitcoin has a strong rooted culture, which is both its strength and weakness

The speakers discussed Bitcoin's slow adoption and development, attributing it to its technical limitations as an older blockchain and resistance from some community members who have previously dismissed new ideas. They noted that although Bitcoin has a strong and established ecosystem, the culture within the community has been resistant to change, leading to a lag in innovation. However, new technologies and the Ordinals trend in 2023 have helped overcome these barriers and fuel more rapid growth in the future.

3. Developers will need to simplify and upgrade tools for future mass adoption

In the future, the speakers agreed that it will be up to current developers and builders in the Bitcoin ecosystem to create a simplified environment that meets the needs of users and future builders. They emphasized the importance of user experience and the need to simplify tools for developers to build applications, making them less technically complex for mainstream users while supporting power users and customizability. They also recommended learning from the best practices of other blockchains that have been developing applications for longer to continue improving the user experience on Bitcoin applications.

Guests:

• Sami, CEO of Cross The Ages 
• Leo, Founder of STYLE Protocol
• The Big Brawler, CEO of Bit Brawl

Top 3 Key Takeaways from Our Guests

1. Web3 gaming has changed with recent market conditions 

At the roundtable, we asked our speakers to share their thoughts on how recent market conditions have affected the Web3 gaming industry, particularly compared to the previous cycle. The speakers agreed that in the previous cycle, many games capitalized on the success of Axie Infinity, resulting in a surge of play-to-earn games. However, due to the time it takes to develop a game, market constraints restrict availability and accessibility. Games take years to build, which means that we are yet to see progress and adoption. Nonetheless, there are some great games currently available that could succeed in the upcoming bull run. Additionally, the speakers mentioned that in this cycle, many games emphasize cross-functional assets and interoperability, which makes the ecosystem more engaging.


2. Balancing fun and financial rewards is still a driving narrative within Web3 game development

One of the speakers in the roundtable expressed skepticism about the current state of web3 gaming, citing a lack of proper valuations and an imbalance between marketing and gameplay. They believe the industry needs to focus more on creating a fun and engaging gaming experience to attract more users. Another speaker emphasized the importance of balancing fun and financial elements in crypto games and highlighted the need for iteration and user involvement. According to this speaker, finding the right balance between the two elements is crucial to ensure that the game is both enjoyable and rewarding. The third speaker shared their perspective on creating a fun and engaging gaming experience, highlighting the need for iteration and finding the right balance between information and ownership. They believe it is vital to keep the game simple and easy to understand while giving players a sense of ownership over their assets. Overall, the speakers agreed that there is still a long way to go before web3 gaming becomes indistinguishable from web2 gaming, but they are optimistic about the future and see great potential in the industry.


3. Virtual assets need to be interoperable across blockchains

The speaker suggests that virtual assets should be interoperable across different environments. With so many virtual environments emerging, it is not feasible for people to have their assets in each environment. They believe that projects making virtual assets resellable long-term across different virtual environments are crucial. The speaker thinks that a few big players will emerge as the primary infrastructure providers in the market for virtual asset infrastructure, similar to the telecommunication industry.

The New Era of Privacy

• Guest: Shahaf Bar-Geffen, CEO  of COTI
• Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Takeaways from Our Guest:

1. Privacy is not to be confused with anonymity 

Shahaf explained that privacy should not be confused with anonymity. Blockchain stands for transparency, but that doesn’t mean privacy is not required. Privacy is often recommended and required when a party wants to send sensitive data to another. Transparency and privacy can and do exist simultaneously, and that is what Coti wants to ensure so the cryptospace can take that next step and mature the industry.

2. Garbled circuits improve user experience.

Garbled Circuits is a new encryption technology that encrypts data quickly. The main advantage is the technology's “lightness". This feature allows messages and data to be encrypted and decrypted fast, improving user experience and ensuring easy usage for shareholders who want to transact on the blockchain securely and privately.


3. Who will benefit from this new technology?

Shahaf explained that there is no target audience because it’s for everybody. Anyone who creates almost any kind of dapp will want to use this technology, especially those who create financial services like Dexes, governance, and data-sharing platforms. However, the utility doesn’t stop with them. Privacy is crucial in various industries, e.g., healthcare, where traceability and transparency are important, but privacy is a must.

Guests:

• Eden, Co-Founder of AARK Digital
• Ritwik Rudra, Co-Founder of SYNTHR
• Brian Gallagher, Co-founder of Partisia Blockchain

Top 3 Key Takeaways from Our Guests

1. "There are still significant adoption hurdles for DeFi"

The speakers emphasized that user experience (UX) issues are the primary obstacle to the wider adoption of DeFi solutions. They pointed out that challenges such as wallet experiences and incentives still pose significant adoption challenges. Additionally, they suggested that there is a pressing need for user support in the DeFi space, and highlighted the importance of providing more customer support to help users better understand these tools.


2. "Having multiple blockchains is necessary for innovation and quality improvement"

During our discussion about the future of the crypto space and its impact on DeFi, the speakers had differing opinions. While one speaker wasn't convinced that RWA, AI, and SocialFi would have a lasting impact, others saw great potential in these areas and believed synergies could exist. Additionally, there was a debate about the need for new blockchains and whether Ethereum was the only one required. However, some speakers felt that multiple blockchains were necessary to drive innovation, create solutions that challenge other systems, eliminate issues such as high fees, and give builders more control.


3. "Creating a seamless on-chain experience is crucial for retail users and investors"

The speakers raised an important issue regarding DeFi. There are several problems with DeFi, such as high slippage costs, lack of liquidity, and VCs controlling tokenomics, which results in retail investors being excluded from participating. This makes it less attractive for retail investors to engage with DeFi. Therefore, DeFi protocols must continue to focus on interoperability and building efficient liquidity layers. This will lead to wider adoption and democratization of DeFi.

Shaping AI Ownership

• Guest: Whitney Gibbs, Founder of Ringfence
• Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Takeaways from Our Guest:

1. AI has positively contributed to our daily lives.

To kick off the conversation, we asked Whit what he thinks about AI’s effects on our daily lives. He explained that even though there are some negative effects on the media or social platforms, he finds AI’s contribution to our lives a significantly positive tool. He highlighted how AI improved medicine in recognizing unwanted cells or in the creative space and how AI can help somebody with a good idea who lacks graphic or content creation skills transform their vision into visual content.  

2. The AI industry must have a platform where creators are paid for their work. 

Whit carried on the conversation and highlighted that even though there are countless applications for Generative AI, the big companies are still unable to use them due to the unknown origin of the content. Companies are afraid of using content where the original creator is unknown or hard to determine as that could bring uncertainties from a legal point of view; therefore, a platform where the creators are paid for their work and the copyright is well established is a must to move this industry in the right direction. 

3. AI regulation should not get in the way of industry development. 

Finally, Whit explained that navigating AI regulations is not as complicated as it may sound. Existing regulations are a work in progress, and more is to be expected. However, if we apply common sense and operate in the AI industry as we would operate in more traditional business considering asset ownership and copyright, AI regulations should not get in the way of the development of this industry.

Guests:

• Emile, Co-Founder of XDEFI Wallet
• Gabby Dizon, Co-Founder of Yield Guild Games
• Altcoin Sherpa, Angel Investor & Influencer

Top 3 Key Takeaways from Our Guests

1. The following crypto cycle could be potentially more significant due to mainstream adoption.

During the roundtable discussion, our guests shared their reactions to the latest news in the cryptocurrency world. They discussed the approval of ETF and the upcoming halving in April. Although predicting the market's movement is complex, the guests agreed that crypto is becoming more accessible and inclusive. This leads to a growing community and an influx of capital, especially in anticipation of the next significant event. 

However, the guests anticipate that the next few months will still be turbulent, particularly regarding the price of Bitcoin. The Federal Reserve rates will continue to have implications for the macro environment and affect the market's movement.

2. Infrastructure and DeFi projects will need seamless integration to host the new influx of users.

We dove deeper into various crypto industries and what our guests thought about the development. Given Gabby’s background in gaming, he says that price adoption and crypto adoption will drive teams to create better products than they had in the previous cycle. With his background in wallets and infrastructure, Emiel added that user experience is vital in gaming, and companies like his need to ensure that wallet integrations are seamless for games to stay competitive. 

Segueing into wallets and infrastructure, Emiel also said that DeFi protocols would be on the sidelines in the upcoming year as the audience changes. DeFi will have to be democratized and made easier to use. The need for multi-chain-friendly tools and improving the user experience will be the way forward in the upcoming cycle. 

3. "This cycle's all-time high will be very different from what we saw in 2021"

In 2024, we can expect to see the growth of various narratives. Our guests all agree that last year, the trend was very much around SocialFi and NFTs. Since October 2023, more people have been talking about EVMs and RWAs, which also reflects the big projects in the market. With this being said and the trends foreseen in the coming months, Sherpa states that he is bullish and sees us reaching an all-time high in 2024/2025. 

However, how we reach an all-time high will be very different from how it happened in 2021. We will see more gradual growth in this cycle than sudden candle spikes. With that, all speakers advise people to continue to research, understand what is happening in the market, and take caution of people’s advice. 

The Secret of Good Data

• Guest: William Simonin, Founder and CEO of Ta-da
• Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Takeaways from Our Guest:

1. AI will develop from a “plug-in” to a tool we use in daily life.

To kick off the conversation, we asked William what he expects from AI in the future. William explained that AI is here to stay based on what he has seen in the past 5 to 7 years, along with everything around the 2023 AI boom. Right now, a lot of AI is mainly used as a “plug-in,” but in the future, AI will evolve to accompany us in our daily lives by helping us with chores and ways to make us more productive. This will mainly be fueled by the increase in usage among individuals and larger companies– for that, high-quality data and widespread recognition are needed for AI to reach its highest potential.


2. Ta-da is an application that enables the creation of custom data sets.

Diving deeper into the project, William explains that Ta-da aims to be a one-stop shop for big companies that need quality data. He goes on to share that Ta-da was created because of the expensive and bad-quality data currently on the market. Together with its community, Ta-da can create voice, text, or visual data. The current Beta app uses gamification to crowdsource and gather voice data from various users, which is then stored and authenticated on the blockchain via app users.

3. MultiversX’s strong community and fast transactions fuel Ta-da’s ecosystem.

William shared two reasons when asked why the team chose MultiversX as its underlying ecosystem. Firstly, the MultiversX community is close-knit and highly engaged, vital in any project's development. Secondly, it has fast transactions with low transaction fees. These two factors are pivotal in the future as the Ta-da will require a high output once it’s operational. William also shared that the team is looking into creating their blockchain, a type of L2, to further reduce costs and ensure market competitiveness.

Guests:

• Pavel Bains, Executive Producer of MixMob
• Nico del Pino, Co-Founder of OLA GG
• Borislav Hrinchev, CEO of MSV.GG

Three Key Takeaways from Our Guests:

1. Guilds have evolved their focus from scholarships to building engaged communities and providing hands-on initiatives.

To start the roundtable, our guests were asked to define a guild in their own words. All our guests agreed that guilds had evolved their focus from scholarships that helped early on adoption within the gaming space to building engaged communities and directly supporting projects through hands-on initiatives. This includes assisting with user acquisition in target regions/demographics, localization of content and marketing, and identifying issues early by facilitating extensive testing and feedback cycles before product launch. Ola GG and MSV.GG, being guilds and working closely with games and other crypto projects, agreed that community, infrastructure, economic support, and distribution were key elements of today’s guilds.


2. Guilds can grant access to expert communities whose skills can aid in go-to-market efforts.

Our guests moved on to talk about the relationship between guilds and games. They stressed that partnering with specialized guilds with expertise in specific regions, languages, or genres enables web3 projects to enhance user acquisition strategies and distribution. This approach proves more effective in reaching niche target audiences than general guilds. Additionally, it grants early access to smaller testing communities associated with these specialized guilds, facilitating the identification of bugs or suggesting improvements before a wider launch. This collaborative effort contributes to an overall improvement in product quality. These engaged guild testing communities' structured and detailed feedback proves invaluable, particularly for early-stage projects.


3. Projects released great alphas and are preparing for more community initiatives.

To end the roundtable, our guests revealed a couple of exciting alphas. MixMob, the game is in a great state, and last week, the team launched their whitepaper paper along with a video. They are also kicking off their “Flip web2” campaign, which aims to garner more attention to the future of web3 and all its benefits. Ola GG introduced its leaderboard and community ranking to track merit and engagement. They will continue to work on Ola GGs on this initiative and more reward programs.

Furthermore, they will travel around Latin America and Spain to meet their community face-to-face and, finally, MSV.GG will be pushing the next recruitment cycle soon. The team will also work closely with Fusionist, BitsCrunch, and Apeiron. You can follow all these initiatives on the project's discords and Twitter channels.

Combatting Fraud with AI nad Data

• Guest: Vijay Pravin, Founder and CEO of BitsCrunch
• Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Takeaways from Our Guest:

1. bitsCrunch helps clients be compliant with AI as the underlying technology.

To kick off the interview, we asked Vijay why bitsCrunch is an asset to the crypto industry. Vijay highlighted one of the most common but overlooked aspects that slows adoption and institutional integration – Fraud! bitsCrunch, with AI as the underlying technology, offers monitoring and checking transactions and asset authenticity to ensure that users and companies get what they pay. They monitor the market and the transactions and flag any suspicious activities like wash trading to ensure that the price of an asset is not artificially increased and users will get the value they are paying for. 

2. bitsCrunch will offer services for users and companies alike.

Vijay explained that although bitsCrunch services sound like the target customers are companies, users can also benefit from it. In the case of a company, while with their easy-to-integrate API big volume data can be monitored, helping in filtering malicious activities and projecting upcoming trends, dedicated platforms will also be put in place for single users. He mentioned that, for example, the Unleash NFT platform will allow people to check the authenticity of the NFT they want to buy.


3. bitsCrunch will continue to monitor the Metaverse. 

Toward the end of the interview, one of our audience members asked if bitsCrunch would also work in the Metaverse. Although there is no current plan to be in the Metaverse, Vijay stated that, given their product capability along with being an active “investigator” of transactions, markets, and activity, they aim to be present in the Metaverse with a sharp focus on upcoming cross-chain transactions and cross-community game activities of player to provide gaming studios accurate data about their gamers preferences to improve the services they offer.

The Next Generation Gaming

• Guest: Ike T., CEO of Fusionist 
• Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Takeaways from Our Guest:

1. “Data ownership is not the most important element of Web3 Gaming”.

We kicked off the Twitter Spaces by asking Ike about the importance of data ownership for Web3 gamers. Ike explained he doesn’t think data ownership in gaming is very important because, according to his gaming experience, fun, and enjoyability is the key factor for gamers to continue playing – which is an element many Web3 game producers are still trying to navigate and integrate into their games.

2. “In the future, Layer 1 and Layer 2 infrastructures will support complex Web3 games.”

The conversation then dove deeper into the complexity of games and whether blockchain infrastructures can support them. Ike explained that at the moment, blockchain infrastructures will not be able to support a fully complex game and will need to be built on both Web2 and Web3.
For example, Fusionist is not built 100% on the blockchain and consists of Web2 elements. This was a conscious decision, as it was necessary for the game to compete with already existing traditional games. In the future, Ike believes that various Layer 1 or 2 infrastructures will be capable of hosting complex games, however, as at the moment, games need to be built on both traditional technologies and blockchain to ensure a smooth user experience.


3. “Fusionist welcomes new users to join and engage with its community”

To close off, Ike welcomed new users to engage with the Fusionist ecosystem. All one has to do is create an account and earn tokens by playing the game. Some smaller parts of the game, called exhibitions, are live and ready for play. The game is currently in the test phase, but will soon be released on Steam for everyone to enjoy.