Here’s what will happen when blockchain goes mainstream:

- Money will move at the speed of light

- Basic financial services will be available to everyone with a phone, globally

- Crowdfunding will become the predominant capital formation mechanism for organizations
- Cryptocurrencies will become a major asset class for inflation hedging

- Marketplaces will be disintermediated by smart contracts, creating insanely efficient facilitation

- Creators will put their work directly on global, digital markets
- Influencers will connect and monetize with audiences directly using digital assets

- Finance and market efficiency will become predominantly a matter of computer science

- Human organization, starting with corporations, will move on-chain
- Digital content will move onto open, public, Internet-native markets

- Mechanism design, coalitional game theory, social choice, and zero knowledge will become much more widely studied fields

- Corporate treasuries will be converting to strategies based on deflationary assets
- Against all expectations, governments will become increasingly supportive of crypto over time

- All the world’s data will go on-chain

- Individuals will own their identities and their personal data online

- Digital jurisdictions will compete for citizens
...and there will be so much more, but that will be an awesome start.

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More from @jbrukh

27 Dec
Awesome podcast from @michael_saylor, deep diving into the corporate Bitcoin strategy for two hours.

podcasts.apple.com/us/podcast/btc…
First key take away is that inflation is really a relative measure, and poorly expressed through the CPI.

Real inflation rates are much worse than they appear & the cost of your capital is not being compensated adequately by traditional investments like bonds and real estate.
MicroStrategy found an interesting way to obtain a loan and buy Bitcoin with it in a way that takes advantage of the inflation hedge, control downside risk, and bet on the future.

“There is no 5 year timeframe in which Bitcoin underperformed.”
Read 5 tweets
24 Dec
1/The next major problem set in #DeFi is #NFTLiquidity.

It has become very clear that, like fungibles, nonfungibles are their own financial asset class.

One path to see this is to envision the future of NFTs as “liquid IP”:

blog.coinfund.io/all-digital-co…
2/Some say that NFTs “shouldn’t be” liquid, yet the innovation process continues.

Just like photography has become much easier to create in the last 100 years, liquid NFTs will surely bring down price points of tokenized digital content but will also open expansive new markets.
3/The key observation is this: #NFTLiquidity is merely a technical problem for #DeFi, and the entire set of economic mechanisms is its solution space.

👉🏻 In particular, because of tokenization, *the NFT liquidity problem reduces to the NFT price discovery problem.*
Read 11 tweets
1 Dec
Here a few observations about NFTs on Layer 2, which hint at the possibility true network effects.

These effects *only apply to nonfungibles*.

🌠🌆🎆👇
ERC721 NFTs are notoriously hard to move, you have to pay gas per asset and there is no bulk transfer.

That means once you start a collection in a particular wallet, it will be very expensive to move to a new one.
This implies that users entering the NFT world through a rollup have little incentive to move their assets to the base layer.

Moreover, moving the assets to another L2 is going to cost at least as much as bulk wallet transfers.
Read 5 tweets
19 Aug
Answer: . . .because this NFT isn’t the image, it is a LICENSE to the image.

1/Here is a thread about why the NFT-as-LICENSE view is completely disruptive to digital creation.

📝 🤯 👇
2/For most digital content — images, photographs, videos, blogs, music files — ways of monetizing it are few and far between.

📷 A stock photographer might move prints for a few bucks on an online marketplace.

📖 A blogger might earn from some ads on her blog.
3/

🎷 A musician might sell the rights to her songs to a record label, in exchange for money and a contract.

...but by and large, creators either don’t own the rights to their work (musicians) or monetizing those rights is very difficult (ad blogging).
Read 10 tweets
1 Jul
21 predictions for next little while.

1. Lots of large protocols using token-based bootstrapping mechanisms.

2. Proliferation/innovation in decentralized governance systems.

3. Many networks bridging Ethereum.

4. Single-chain maximalism death throes start.
5. Governance token model leads to fast iteration, many experiments, a large scale disaster.

6. New concept explosion — liquidity mining, recursive incentives, bootstrapping loops, protocol interference, economic gravity, proposal farming, protocol politicians.
7. Time to liquidity for sufficiently decentralized tokens falls to 0.

8. Protocol liquidity wars, protocols exercising network effect capture through clever incentives and coordination.

9. $10B protocol unicorn.
Read 7 tweets
21 Feb
1/Honestly, the #cryptoart space can easily step up their game. 🤷‍♂️

I’ve been trying out the shoes of an NFT creator and viscerally feel the pain of blockchain’s users and customers.

cc @SuperRare_co @makersplaceco @KnownOrigin_io @mintbase @opensea @snarkdotart

Thread. . . 👇
2/Only 1 out of the 3 major NFT origination platforms has login without a cryptowallet.

As a result, I lost a sale yesteday because my buyer simply couldn’t make a purchase on the go at #NFTNYC.
3/Buyers need a smooth onboarding experience so we can encourage them to make sales and build a demand side! 💵

At the same time, requiring an email is terrible for cryptonative buyers who want to keep their assets private. 🕵️‍♀️
Read 10 tweets

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