CovDuk Profile picture
Mar 20 21 tweets 7 min read
The Imagination Age.

An age where creativity and imagination will become the primary creators of economic value.

In this thread I'm going to dive into what that the future holds, what it means for us and how crypto is enabling this to happen.

A thread👇🧵
2. The Imagination Age, coined by @RitaJKing, is a theoretical period beyond the Information Age where creativity and imagination will become the primary creators of economic value.
3. Most of what we're studying and learn in school is antiquated.

People are frustrated. Lots are dropping out. Everyone knows what we're studying and learning in school is useless.
4. A study done by the World Economic Forum reveals that almost 65 percent of the jobs elementary school students will be doing in the future do not even exist yet.
5. Essentially, in the current world, although we've our individual freedoms, we are shackled to the whims and fancies of monopolies and old societal norms.

We still have to work mundane jobs that we all hate.

We still rely on someone us to pay us for our work.
6. The way we conduct things is antiquated. It is based on outdated principles from the Industrial age.

We are no longer in such period.

We are in a technological age where tech and information are king. We’re using principles and living by the rules of Era that is long gone.
7. The world is rapidly changing. People are leaving their traditional jobs in herds.

Covid has accelerated that and showcased the serious flaws in our existing systems.

We've realized that tech can do just about everything we currently do. But better.
8. Instead, we can leverage tech to do the things we don't want to do.

So that we can focus on what we actually want to do.

But it isn’t all abstract, wishful, dreamy and fluffy.

It's already happening.
9. In the past decade, content has become king. The rise of video games, content creators, and other virtual & creative realms has been astronomic.

Yet for the most of us, these are just things we do in our off time.
10. Slowly, the world is placing more importance to creative and imaginative things.

#Crypto is transforming landscape, devouring middle men and logic related jobs.
11. If smart contracts and code can do most of the traditional jobs, then what will we be doing?

Whatever we want.
12. Web3 is built on the ethos of putting value directly into the hands of the users.

Crypto allows the users themselves to be the economic source of value.
13. Instead of relying on middlemen and monopolies to churn out goods and pay out measly salaries, crypto empowers every individual to be a creator, builder and consumer all at the same time.
14. Our tech has come to the point where most jobs have or will become antiquated very soon.

Most jobs that do not require our human intelligence and creativity can be replaced with code.
15. In fact, when they are replaced with code, the returns are far better and more transparent.

Just look at #DeFi. Instead of those measly 0.05% returns, you can now get 10%+ returns.

Why? because the middleman is gone and everything is automated through crypto.
16. On the flipside however, creative jobs have been thriving. Artists, writers, builders are wanted more than ever. They’re getting paid more than ever.

Its because tech can’t quite replicate human intelligence and creativity.

What sets up apart is our imagination.
17. The imagination economy will create value.

The imagination economy is described as an economy where intuitive and creative thinking create economic value, after logical and rational thinking has been outsourced to other economies.
18. We’ve come to the point where logic can be easily replicated by machines. There is something more important. Our human intelligence.
19. This is why you’ve droves up people running into crypto. It’s because what crypto is doing is transformational.

Everything that can be done through code, is being done.

All that’s left is up to our imagination.
20. We can focus our precious time and recourses on building, quite literally, whatever we can think of.

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More from @Cov_duk

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This has led to the exponential rise of solutions in the form L1s like #AVAX and and scaling solutions like #Arbitrum.
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Here’s my #Avax 101:
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360M tokens were minted at launch and another 360M will be released over 10 years.
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Cue The Scalability trilemma

The Scalability trilemma that all blockchains face is that they can only choose 2 out of 3: scalability, decentralization and security.
3. ETH is secure and decentralized. But it is not scalable. Gas fees have become super pricey and the network is getting clogged up.

A lot of people are trying to solve these problems in different ways. You’ve alt L1s like AVAX that have found ways to be scalable.
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It’s online RPG game where players can summon heroes, go on quests and adventures and serves as the entry point into the Elleria metaverse.
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Essentially, it is trying to built a digital archive that lives forever.
3. #Arweave is very scalable, processing over 5000 transactions per second and can store data at a fraction of the cost as other competitors.

Arweave is trying to disrupt the data market that is dominated by tech giants like Microsoft, Apple and Google.
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