Sketchy Ideas

Sketchy Ideas Episode 73: Crypto For Common Folk Part 5

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:30  Intro

  • Topic: Crypto For Common Folk part 5

    • 3:00 Sponsors

    • Cream City Marketing
      • www.creamcitymarketing.com
      • Spearity
        • www.Spearity.com
        • Recap of last week
          • Nft and value

            • 6: 04 Active Learning with Michael, NFT version

            • NFT is really about establishing ownership
            • One of they key factors of blockchain and crypto is about combating fraud
            • NFTs do not have a good face that is a good descriptor
            • WHat are NFTs designed to do?
              • Security
              • Ownership
              • Authenticity

                • 9: 05 How do we validate NFTs

                • How do we authenticate them?
                  • It has been applied to things for a long time but called something different
                  • Now it is backed by blockchain
                    • This is the chain of authenticity
                    • It is the pink slip validating that you own something

                      • 12:00 Certified

                      • Applying the idea of owning something but with a digital artifact
                      • Increasing value by proving authenticity and certification

                        • 15: 10 This Isn’t New

                        • Don’t be scared of it it is just a different way of talking about it
                        • When you introduce levels of speed you inherently apply pressure on industries to either lose value or lose people
                          • We lost people through the scaling of the internet
                          • Everyone moved on

                            • 18:20 Protection Layer

                            • EX: Stealing a painting
                            • Security
                            • How does this apply to the metaverse?
                              • EX: nike bought company that does digital fashion
                              • This is them getting into the metaverse
                              • NFT concept
                                • Apply to fashion world in general
                                  • In real world, digital and metaverse
                                  • buying a piece of clothing in the metaverse
                                    • Buying e commerce fashion in metaverse
                                    • The outfit pertains to everything in that iteration
                                    • The shopkeeper doesn’t have the inventory on hand

                                      • 21: 27 Tshirt example from last week

                                      • The shopkeeper doesn't have the inventory on hand in the store
                                      • But you want to have access to brands
                                        • So you get an nft contract
                                        • Go into store and buy clothes from all different brands and when you buy, all those companies including the shopkeeper gets paid
                                        • Even shows up in the mail
                                        • There are fashion apps now where you can stand and wear the glasses
                                          • You will get the outfit in the metaverse and in the real world

                                            • 24: 00 Enforcement of Patent

                                            • You could make a fake nike sweatshirt and you could do it in the real world and metaverse until that brand stops you
                                              • But you would need to set up a store
                                              • Get a code
                                              • Learn a whole new platform in order for it to work

                                                • Full Show Notes Here

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