Keynotes on NFTs, Web3 and the Metaverse
There has been a lot going on lately. Start of the semester, keynotes, events etc. I would like to tell you a bit about my last weeks in this newsletter.
Hello and welcome to MadeMeThink! Once a week I send out this newsletter with curated content, events and examples that have sparked my interest. It's a review of my last 7-days in Web3, NFTs and the Metaverse. Want to follow my thoughts on a daily basis? Then connect with me via Linkedin and Twitter. This article is also available in German.
It's already been a few weeks since my last newsletter. A lot has happened in the meantime, especially in the world. But also in the area of NFTs / Web3 a lot has happened (e.g. Apecoin). I've also been busy myself, with the start of the semester, keynotes, In-Real-Life (IRL) events, etc. I would like to tell you a little bit about my last weeks in this newsletter.
Lectures / Keynotes on the topic of NFTs, Web3 / Metaverse
The beginning of the semester was a busy one. I rebuilt some of my courses and added a lot of content. No matter what university course I lecture, starting this semester none of my students will be able to get by without a short intro on NFTs, Web3 & the Metaverse ;) I'm always surprised how many students haven't had any contact with the topic so far. This shows me how early we still are.
I've been in the startup/innovation scene for almost 15 years. Recognizing inflection points at an early stage is particularly interesting for me.
"Inflection Points change the way we think about things, they present an opportunity that only occurs periodically (…) Most people don’t realise that they are at an inflection point until its passed“ - Howard Stevenson
I am convinced that the topics of Web3, NFTs and the metaverse are such inflection points and will have a huge impact in many different areas.
Future of Art / NFT Keynote @ St. Gallen Symposium
Last week I had another keynote at an event organized by the St.Gallen Symposium. I was invited to talk about the future of the art world in the context of the developments in the field of NFTs. The talk took place in the Square of the University of St. Gallen in an open setting.
If someone had told me a few years ago that I would lecture on the subject of art, I would not have believed it. Before I got involved with NFTs, art was not exactly one of my specialties, to say the least. Myself and many others in my network were first introduced to the world of art through NFTs. Pixel art, memes, gifs... these are types of art I was familiar with, although no one used to perceive these formats as art. Today it's different and art can be pushed in these areas by talented artists even full-time. But NFTs have also broadened my understanding of offline (IRL) art (which, however, is still quite limited, I suppose). Today, if someone, like Maurizio Cattelan, tapes a banana to a wall and sells it for hundreds of thousands of euros, I can understand it ;) I think the art scene will switch almost completely to NFTs in the future, there will also be NFTs for offline works. Since this newsletter is already quite long and there should be an incentive to read my future issues, I won't go into the "why?" about this today, but will create a separate issue on this :)
Anyway. After my lecture, the students created their own NFTs together with artist Raphael Dudler. In the process, they created photos and expressed their feelings about the Ukraine war on them. Raphael Dudler then edited the images on site and minted them as NFTs on OpenSea. A noble donor bought up the whole collection in the aftermath (offchain) and donated it back to the students. Congratulations again to the students for their initiative!
FHV Business Summit
I am looking forward to my keynote "NFTs, Web3, Metaverse.... just a hype?" at this year's FHV Business Summit. The event will take place on site at the FHV - Vorarlberg University of Applied Sciences. If you live in the area and are interested in the program, there are still a few tickets available.... I would be happy about an IRL exchange of thoughts. Spoiler for all who can't attend: Of course Web3, NFTs and the Metaverse are currently hyped, but the developments in this area will bring lasting changes to many areas of our lives and, in my opinion, offers the biggest entrepreneurial opportunity of this decade.
Bored Ape Yacht Club (BAYC) has just launched their ApeCoin. 62% of the ApeCoins go to the Ecosystem (Bored / Mutant Ape Holders) + to the Community Wallet. The founders receive 8% of the ApeCoins.
Each BoredApe Holder will receive 10k Apecoins. On the decentralized exchange Uniswap, the value of Apecoins still fluctuated widely on the day of issue, mostly between $6 and $10. That means each Bored Ape Holder has had between $60,000 and $100,000 dropped into their wallet. The current price, one week after the Apecoin drop is about 13.5 dollars. You can see current market prices on platforms like CoinGecko; there you can also see on which exchanges $APE is traded and you can find the correct links for example to Uniswap pools. Personally I always use Coingecko as a starting point to buy something on decentralized exchanges, because unfortunately there are incredibly many fraudulent efforts out there and a wrong click can be expensive.
To assess the potential of a project, I always look at the market capitalization (= current price x current amount of Apecoin in circulation; for APE 2.3 billion dollars) and the fully diluted market capitalization (= current price x all Apecoin there can be at most; 13.5 billion). I then compare the market capitalization with other projects and ask myself where, for example, ApeCoin will settle. Ranked by market capitalization, Apecoin is already 61st among all cryptocurrencies.
However, what interests me more than the financial aspect of Apecoins is how the token was distributed to the BAYC community. Airdrops like the one executed by BAYC are one facet of the distinction between Web2 and Web3 projects. When Web2 projects (e.g., Facebook) rise, the community does not participate financially in their success. With Web3 projects, much of the increase in value is shared with the community. This is one of the reasons why Web3 projects will prevail over Web2 projects. The whole community benefits from the success of the project, not just individuals.
There are interesting times ahead....
Disclaimer: The thoughts published in this publication are my personal opinions and should not be viewed as investment advice. I am not a financial expert. My specialty is entrepreneurship, innovation & marketing. Readers should always do their own research. I own various cryptocurrencies and NFTs, however in many cases it is for the sake of researching the field and gaining a deeper understanding of Web3, NFTs and the Metaverse and not for investment purposes.