Thread by @The_ReadingApe

@donnie is back on the @zima_red podcast. He shares with @AndrewSteinwold the progress @bitski has made as well as his thoughts on NFTs, the Metaverse, DAOs, and many more

Read on for more 👇

@donnie @zima_red @AndrewSteinwold @bitski 1/ Origins

🔹Founder of Bitski, a platform where people can create, buy, and sell NFTs
🔹Added a storefront for NFTs since his last chat with Andrew
🔹Raised Series A from Andreessen Horowitz
🔹Has been in the space for over 3 years at this point

@donnie @zima_red @AndrewSteinwold @bitski 2/ @bitski

🔹Anyone can sign up with Bitski
🔹A self-serve product. People can build their own custom site/storefront or use their standard storefront
🔹User traction has been growing
🔹Added 100,000 wallets since last fall
🔹Approaching 150,000 total wallets

@donnie @zima_red @AndrewSteinwold @bitski 3/ Raising from @a16z

🔹Launch in February coincided with the broader audience coming into NFTs
🔹Their platform allowed people to participate using a credit card
🔹Funds started to show interest in Bitski
🔹Worked with Sriram Krishnan from a16z's consumer team

@donnie @zima_red @AndrewSteinwold @bitski @a16z 4/ What is the Metaverse?

"But I really do believe that the metaverse is not at one new place. But it's going to be a constellation of places that we've already spent time in." - Donnie Dinch

🔹More places will become interoperable with one another

@donnie @zima_red @AndrewSteinwold @bitski @a16z 5/ Personality expression in the Metaverse

🔹Human nature to express their personalities
🔹People do not differentiate between their online self and offline self. Both are aspects of the same person
🔹Self-expression will continue to perpetuate in digital spaces

@donnie @zima_red @AndrewSteinwold @bitski @a16z 6/ NFTs Are The Atomic Unit Of The Metaverse

🔹NFTs are digital things that people own
🔹Blockchain is a global source of truth of ownership
🔹For economic activity to occur in the Metaverse, there must be goods/services exchanged
🔹NFTs are the atoms that make up the Metaverse

@donnie @zima_red @AndrewSteinwold @bitski @a16z 7/ NFTs on other blockchains

@AndrewSteinwold: Is this a concern?
🔹In terms of NFT to NFT composability, it becomes more complex when they are on different platforms
🔹From a social app/virtual world standpoint, it doesn't really matter which chain the NFT is on

@donnie @zima_red @AndrewSteinwold @bitski @a16z 8/ Creator economy

🔹Someone who makes a living on the internet
🔹Crypto and NFTs enable new ways to make money and industries that otherwise wouldn't exist
🔹They level the playing field for a lot of economic activity that otherwise has high barrier to entry

@donnie @zima_red @AndrewSteinwold @bitski @a16z 9/ DAOs

🔹DAOs will shift from a fun, experimental mode to something that is utilized by most people
🔹The experiments/use cases will inspire future products
🔹Will compete with other organizational models in the future
🔹Cool DAOs: @FLAMINGODAO, @PleasrDAO, @YieldGuild

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild 10/ Thoughts on play-to-earn

🔹Longevity of play-to-earn is inarguably questionable🤔
🔹Yield to the optimistic side and support this fledgling idea that is adding value to a lot of people🌅
🔹Thinks that play-to-earn will be a construct that will be integrated into games

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild 11/ Biggest threats to the Metaverse

🔹Thinks that the Metaverse is inevitable
🔹Biggest threat would be "when" the Metaverse would manifest
🔹Thinks of it more as hurdles that are to be overcome in order for the Metaverse to hit critical mass and proliferate

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild 12/ 10 year grand vision

🔹Help power the commerce layer of the Metaverse
🔹Needs 3 important components: 1️⃣ Creation component, 2️⃣ Place component, 3️⃣ End user
🔹Bitski's opportunity is to provide all the services that make that 3-sided marketplace a reality

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild 13/ Single favourite NFT

🔹An Axie that @Jihoz_Axie gifted him
🔹Met Jiho at a random event in New York at the beginning of 2018
🔹Has the most sentimental value for him

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild @Jihoz_Axie 14/ Most controversial thought

🔹Don't agree with "Not your keys, not your NFTs"
🔹If people are not comfortable with private key management, they should have the option to use a service provider to manage it for them

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild @Jihoz_Axie Links:

Podcast: anchor.fm/andrew-steinwo…
Substack post: thereadingape.substack.com/p/zima-red-ep-…

Thanks to @AndrewSteinwold for the episode!

@donnie @zima_red @AndrewSteinwold @bitski @a16z @FLAMINGODAO @PleasrDAO @YieldGuild @Jihoz_Axie Like our work?

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~ End Thread