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27. Bored Apes Stolen, A16z Crypto Fund, Interoperability, Metaverse Elves, NFL Blockchain Game
Episode 2730th May 2022 • META Business • Holodeck Media
00:00:00 00:37:13

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In this episode, we discuss Seth Green's Bored Ape NFT being stolen, Andreessen Horowitz's $4.5 billion crypto fund, a cross-chain event between Million on Mars and Sunflower Land, an NFL blockchain game, Helpshift's plan for free metaverse customer support, metaverse elves, and so much more!

Episode 27 Keywords: Seth Green, BoredApe, NFT, Andreessen Horowitz, crypto fund, cross-chain events, Million on Mars, Sunflower Land, NFL, blockchain, Helpshift, free, metaverse customer support, elves

Transcripts

Unknown:

Welcome to the metaphysics podcast. The

Unknown:

Metaverse and web three are bringing about the biggest

Unknown:

revolution since the internet itself. With your hosts Paul the

Unknown:

prophet Dawalibi And Jeff the juice Cohen. We will be bringing

Unknown:

you the latest Metaverse, business news and insight into

Unknown:

what it all means. The meta business podcast starts now.

Paul Dawalibi:

From the boardroom to the metaverse. This

Paul Dawalibi:

is the metal business podcast. I am Paul the profit Web. I'm

Paul Dawalibi:

joined today by my friend and co host, Jeff, the juice Cohen. For

Paul Dawalibi:

those of you who are new here, welcome to the official podcast

Paul Dawalibi:

of the metaverse. What we do is we cover the most pressing,

Paul Dawalibi:

Metaverse, stories and news of the week. But we look at all of

Paul Dawalibi:

it through a business and C suite lens, we dissect, we

Paul Dawalibi:

analyze the business implications of everything

Paul Dawalibi:

happening in this exciting industry. For our regular

Paul Dawalibi:

listeners. Thank you guys for tuning in every week. If you

Paul Dawalibi:

haven't already, go leave a review on the podcast, share it

Paul Dawalibi:

with a friend if you do those two things, we will love you

Paul Dawalibi:

forever. This is how we continue to grow. Make sure you share it

Paul Dawalibi:

make sure you leave a review on whatever podcast platform you

Paul Dawalibi:

you get us on and hit subscribe or like turn on whatever alerts

Paul Dawalibi:

or notifications there are so you make sure you get every new

Paul Dawalibi:

episode right when it comes out. Jeff, how you doing this week?

Jeff Cohen:

I'm good. I'm feel like I'm ready to go. You know,

Jeff Cohen:

it's whenever we record after the live stream. I always feel

Jeff Cohen:

like you know, I've got the kinks out like I'm kind of ready

Jeff Cohen:

to. It's almost like yeah, like when you go off you take the

Jeff Cohen:

first three or four holes, like get your swing and then you're

Jeff Cohen:

really hitting your stride by the by the middle. So that's how

Jeff Cohen:

I feel now. I feel like I'm ready to go. I'm like loose.

Jeff Cohen:

It's gonna be we're gonna we're gonna spit some fire on this

Jeff Cohen:

episode. I

Paul Dawalibi:

think I am ready for some like classic juice hot

Paul Dawalibi:

takes here. Okay, so let's let's kick this off. Guys. We'll start

Paul Dawalibi:

with a story here. As always, we try and start with a story

Paul Dawalibi:

that's a little bit fun or a little bit lighthearted.

Paul Dawalibi:

Although enough I call theft fun here. But it is an interesting

Paul Dawalibi:

story. And the headline is someone stole Seth Green's board

Paul Dawalibi:

ape, which was supposed to start in his new show. The sub

Paul Dawalibi:

headline says the actor has been pleading on Twitter with dark

Paul Dawalibi:

wings ad for who bought his ape from a scammer to return it. So

Paul Dawalibi:

this is actor producer Seth Green. He had NF T's that were

Paul Dawalibi:

robbed from him as supposedly after succumbing to a phishing

Paul Dawalibi:

scam. And what was interesting about this robbery is he had

Paul Dawalibi:

bought a board ape or a board ape and a few other NF T's. And

Paul Dawalibi:

he was using the he had been developing for the last I think

Paul Dawalibi:

year it said an animated series featuring the board eight that

Paul Dawalibi:

he had bought. Now, now that he no longer owns that board eight

Paul Dawalibi:

because it was I guess stolen from him or you know that there

Paul Dawalibi:

was he was scammed out of it. I guess he no longer owns the

Paul Dawalibi:

copyright to that board a and so now he's he's trying to get it

Paul Dawalibi:

back from the person who bought it from the scammer. This is the

Paul Dawalibi:

this is sort of where the saga ends in this or what we're where

Paul Dawalibi:

we're currently at in this saga. Part of this article. Jeff, I'm

Paul Dawalibi:

curious what you make of this. There's a lot of ways to dissect

Paul Dawalibi:

this, right. First of all, like getting scammed out of the board

Paul Dawalibi:

a second of all using it in an animated TV series. The

Paul Dawalibi:

copyright issues, the ownership issues,

Jeff Cohen:

I wasn't aware that Seth Green was still alive slash

Jeff Cohen:

making content so good for him. It was still being relevant, I

Jeff Cohen:

guess, in some capacity. So that's number one. I hadn't

Jeff Cohen:

heard of him since like road trip or whatever movie he was

Jeff Cohen:

in, like 1997 is still around. It's still around. And he still

Jeff Cohen:

he looks good. He looks young. So good for him. He's looks

Jeff Cohen:

healthy. Wow, where was I? I mean, this is, I think so I'm

Jeff Cohen:

gonna put my tinfoil hat on hit the music. This is a really

Jeff Cohen:

smart publicity scam. And I say that because no one would care

Jeff Cohen:

that Seth Green was making some show about his board ape. But

Jeff Cohen:

now that the board ape was stolen, and he's going on and on

Jeff Cohen:

and getting all these articles written about how Oh, wow, like,

Jeff Cohen:

is boring. There's a reason why we're talking about it, we

Jeff Cohen:

probably wouldn't be talking about it if it hadn't been

Jeff Cohen:

stolen. I think that this is all an elaborate ruse, where, you

Jeff Cohen:

know, either was obviously this is on the blockchain so we can

Jeff Cohen:

see that someone did, you know, clearly take possession of the

Jeff Cohen:

ape. But I think this is all contrived. And it's just a

Jeff Cohen:

really smart publicity move to garner attention for for show.

Jeff Cohen:

And keep in mind, like what does that even mean? It's still even

Jeff Cohen:

if it was, quote unquote, stolen, he could still use that

Jeff Cohen:

IP. Like, what is the person who stole the IP, the ape gonna come

Jeff Cohen:

and be like, hey, like, I You owe me the royalty money for

Jeff Cohen:

this thing that I stole from him. I don't think that's how

Jeff Cohen:

the law works.

Paul Dawalibi:

Look, I think it's the genius tape right?

Paul Dawalibi:

That's a hot Take a genius stake and even think about that. Keep

Paul Dawalibi:

in mind, right in the in the in the mind of the scammer nothing

Paul Dawalibi:

was maybe stolen here, right because it says it says very

Paul Dawalibi:

vaguely some kind of phishing scam. Right? It would be hard to

Paul Dawalibi:

prove if Seth I feel like fell for the phishing scam. Right?

Paul Dawalibi:

They'll give me the willingly entered his email and password

Paul Dawalibi:

or something, you know what I mean? Isn't that like, it's

Paul Dawalibi:

fraud? It's a crime of some sort. Right. But

Jeff Cohen:

it's held them by gunpoint. Give me your

Jeff Cohen:

information.

Paul Dawalibi:

So I love to take and now that I think about it,

Paul Dawalibi:

it's kind of genius. If that's the reality, and he gets it

Paul Dawalibi:

back, right. And, and maybe he knew he would be able to get it

Paul Dawalibi:

back. Maybe it was all planned out in advance. I let me take I

Paul Dawalibi:

want to take the conversation back, though to one step before

Paul Dawalibi:

that even which is why do we care about a show? Featuring a

Paul Dawalibi:

board eight, but like, it's not a character that has any

Paul Dawalibi:

characteristics? It has this? We don't know anything about these

Paul Dawalibi:

board apes. We don't know what kind of are they nice? Are they

Paul Dawalibi:

assholes? Are they like what kind of people are they? What do

Paul Dawalibi:

they like to do for fun? If anything in the name that says

Paul Dawalibi:

they're bored, right? I don't know how you create good content

Paul Dawalibi:

around a bored ape.

Jeff Cohen:

Hence why they're doing this publicity scam,

Jeff Cohen:

because now you get people interested. But I do think you

Jeff Cohen:

bring up a more serious interesting question where, you

Jeff Cohen:

know, we've seen recently a lot of these communities try to

Jeff Cohen:

pivot towards either content or building a Metaverse or building

Jeff Cohen:

games around what is really just like a bunch of profile

Jeff Cohen:

pictures. I guess it sounds like you're fairly bearish. But

Jeff Cohen:

having said that, the apes all have interesting pictures

Jeff Cohen:

characteristics, like you could build lore around the

Jeff Cohen:

characters, I think you'd it would have to take an

Jeff Cohen:

imagination to build out a whole storyline, but like, it's no

Jeff Cohen:

different than like, there was no Harry Potter until someone

Jeff Cohen:

created the world around Harry Potter, which is the kid with a

Jeff Cohen:

scar on his face. So like prominent character does have to

Jeff Cohen:

be inherently interesting, for there to be an interesting

Jeff Cohen:

story.

Paul Dawalibi:

But is it? Are you allowed to build lore right?

Paul Dawalibi:

Because you own the copyright to that one board ape? And its

Paul Dawalibi:

image and likeness? I assume. Right? But like, if you go start

Paul Dawalibi:

making up stories about how this board ape is a drug dealer, in a

Paul Dawalibi:

world where you know, everyone's a murderous villain, like, well,

Paul Dawalibi:

will the folks that you've allowed to be like, Oh, that's

Paul Dawalibi:

cool, right? That you made up this horrible, like, lore around

Paul Dawalibi:

our, our, our characters that we create,

Jeff Cohen:

I mean, the ethos of the crypto of the whole project

Jeff Cohen:

is that it's decentralized, right? You own your ape, you own

Jeff Cohen:

your character. Now, people probably wouldn't do that.

Jeff Cohen:

Because I think if you're an owner of a board, ape, you're

Jeff Cohen:

probably part of that community. And I don't want to harm harm

Jeff Cohen:

the community but like, I don't know if there's anything

Jeff Cohen:

Yugoslavs could do to stop you. I think that's like, kind of the

Jeff Cohen:

very one of the at least purported values of buying these

Jeff Cohen:

apes. It's like, it's your APU, you could do what you want with

Jeff Cohen:

it. Yeah, it

Paul Dawalibi:

said whole feels a little backwards to me, right?

Paul Dawalibi:

Like, The Simpsons was a success, I'm fine with trying to

Paul Dawalibi:

leave another animated show that was a success. Success, people

Paul Dawalibi:

would then go and buy Simpsons merch or put a Simpsons poster

Paul Dawalibi:

on their wall or whatever it is. But it started with like good

Paul Dawalibi:

stories and good characters. Here, you're starting with just

Paul Dawalibi:

the image. And now they have to create the stories and the

Paul Dawalibi:

characters, like clear to me that that's going to be

Paul Dawalibi:

successful, or that the core material like, is a board a

Paul Dawalibi:

really the best possible animated show, someone could put

Paul Dawalibi:

on the air, right? Like in the world of concepts for new

Paul Dawalibi:

animated shows, if you take out the hype around board, apes,

Paul Dawalibi:

that was that, are there more interesting shows to be done and

Paul Dawalibi:

written. I just, I have trouble believing that this is the best

Paul Dawalibi:

extension to call it of this content, or this IP.

Jeff Cohen:

I agree. I mean, you're putting the cart before

Jeff Cohen:

the horse, you're creating the IP before creating the story and

Jeff Cohen:

the narrative, which, you know, doesn't really work. But the

Jeff Cohen:

crypto community, you know, is is is an interesting one. I

Jeff Cohen:

mean, they're very passionate, right? Like these, these apes

Jeff Cohen:

definitely do have sentimental value for people and they're

Jeff Cohen:

well known. Having said that, it is still probably a very niche

Jeff Cohen:

community. We talked about this all the time with crypto gaming,

Jeff Cohen:

you know, they it's all it's everywhere around the news, but

Jeff Cohen:

it's a very small portion of people that are actually

Jeff Cohen:

engaging with eating and playing these games for now.

Paul Dawalibi:

What do you think are the chances Seth gets his

Paul Dawalibi:

eight back?

Jeff Cohen:

I don't think he'll get his eight back but I don't

Jeff Cohen:

think that was the point here. I think he wanted to create

Jeff Cohen:

attention and I think he's done that if the show is successful,

Jeff Cohen:

he's gonna make a lot more than you know, what is one a worth?

Jeff Cohen:

This point, it'll be probably have come down in value as soon

Paul Dawalibi:

Let's, let's switch gears let's talk about

Paul Dawalibi:

someone who can definitely afford to buy a lot more apes.

Paul Dawalibi:

And this is a little bit of a, you know, tip of the hat to you

Paul Dawalibi:

and to us from our previous episode, where we talked about

Paul Dawalibi:

Andreessen XGames fund one new fund like the $600 million game

Paul Dawalibi:

gaming focused fun. This is Andreessen Horowitz again in the

Paul Dawalibi:

new CNBC article says, Andreessen Horowitz raises four

Paul Dawalibi:

and a half billion dollar crypto fund to take advantage of

Paul Dawalibi:

bargains in downmarket. Silicon Valley firm announced a new four

Paul Dawalibi:

and a half billion dollar fund for backing crypto and

Paul Dawalibi:

blockchain companies on Wednesday. Partners, Ariana

Paul Dawalibi:

Simpson and Chris Dixon liking the long term opportunity in

Paul Dawalibi:

crypto to the next major computing cycle. After PCs in

Paul Dawalibi:

the 80s. Internet in the 90s. And mobile in the early 2000s.

Paul Dawalibi:

bear markets are often when the best opportunities come about

Paul Dawalibi:

Simpson. First of all, let me just say, how cool is it to be

Paul Dawalibi:

at Andreessen Horowitz, we're raising a new fund is if the

Paul Dawalibi:

thesis here is true, right, that this was all about taking

Paul Dawalibi:

advantage of bargains? I mean, the bargains only came about in

Paul Dawalibi:

what like the last week?

Jeff Cohen:

Right? And maybe a little more than that. But yeah.

Paul Dawalibi:

Sounds like what did they do just send a letter

Paul Dawalibi:

out to their LPs and be like, raising a new fund. And two

Paul Dawalibi:

weeks later, this was four and a half billion dollars, like kind

Paul Dawalibi:

of a cool environment to be operating in as a VC. But what

Paul Dawalibi:

do you make? Jeff? You know, we did call this we said the gaming

Paul Dawalibi:

fund was was not going to be sort of was not going to live on

Paul Dawalibi:

its own. There was something that was going to follow that.

Paul Dawalibi:

Curious, your thoughts?

Jeff Cohen:

Yeah, I mean, I don't I don't have too much

Jeff Cohen:

thoughts outside the fact that I'm impressed that we really

Jeff Cohen:

did. You know, sometimes, people may think we joke when we have

Jeff Cohen:

our tinfoil hat, you know, noise which we do. But this was

Jeff Cohen:

actually exactly something we called literally, I think was

Jeff Cohen:

last week. So last week, came through so quickly. And the

Jeff Cohen:

reason we sort of sniffed that out, I think was because we we

Jeff Cohen:

thought it was odd that in the announcement for the massive

Jeff Cohen:

sport under $600 million gaming fun. There was really not much

Jeff Cohen:

or even no talk of crypto in that announcement, which is we

Jeff Cohen:

were positing like why that would be the case. And you know,

Jeff Cohen:

I think we basically said well, maybe they have another fun

Jeff Cohen:

that's going to be targeted at crypto. So kudos to us for being

Jeff Cohen:

right. I don't have much more uptake than like patting

Jeff Cohen:

ourselves on the back. I think this I actually would be

Jeff Cohen:

interested to see if they talked about gaming in this one. I

Jeff Cohen:

don't know this is a CNBC article. So I don't know, we'll

Jeff Cohen:

get the information. But I'll be curious to see if this crypto

Jeff Cohen:

dedicated fund will invest in web three games? Or if it's kind

Jeff Cohen:

of like, somewhat separate.

Paul Dawalibi:

Question for you, though, on the size. How quickly

Paul Dawalibi:

do you think they deploy this right? If this is all about

Paul Dawalibi:

opportunities that are depressed right now, right? Companies,

Paul Dawalibi:

maybe with valuations that have been hit, you know, or lower or

Paul Dawalibi:

whatever, like, if this is a really opportunistic fund around

Paul Dawalibi:

bargains, do you think they deploy this it like four and a

Paul Dawalibi:

half billion in six months in the year, two years? Is there

Paul Dawalibi:

enough out there to deploy a four and a half billion dollar

Paul Dawalibi:

fund in your mind?

Jeff Cohen:

I guess, maybe I'm a little skeptical. I wonder how

Jeff Cohen:

you would know better than I, how much of this narrative

Jeff Cohen:

around the bargains is hey, they were raising this fund for the

Jeff Cohen:

last six months. And now it closed and they're saying, Well,

Jeff Cohen:

look, we've got we did this fun, because there's bargains, I

Jeff Cohen:

don't know how realistic it would really be for them. You

Jeff Cohen:

know, even Andreessen with all the power, they have to marshal

Jeff Cohen:

that big just logistically put it together a fund that quickly.

Jeff Cohen:

So I suspect they're going to do this fund over or the normal

Jeff Cohen:

lifecycle fund, they may be a bit more aggressive with

Jeff Cohen:

valuations down here. And, you know, the market being a bit

Jeff Cohen:

softer. But I think when you're dealing with that much capital,

Jeff Cohen:

it just, it would be hard for them deploy it much faster than

Jeff Cohen:

they probably already are, like, you know, four and a half

Jeff Cohen:

billion dollars, like, it's gonna take a while to deploy

Jeff Cohen:

that. You know, just in general. I did see in the article, as you

Jeff Cohen:

add it up, it looks like they backed Adam Newman,

Paul Dawalibi:

the former founder of $70 million, which is

Jeff Cohen:

That's wild. So I guess, you know, what, you know,

Jeff Cohen:

he did build a build a massive company. So you know, you're

Jeff Cohen:

betting on a founder that's has built a multi billion dollar

Jeff Cohen:

company, I'll be it, you know, sort of almost almost ended up

Jeff Cohen:

killing it, but he did. The almost destroyed

Paul Dawalibi:

$40 billion of value. But yeah, you know, the

Paul Dawalibi:

early

Jeff Cohen:

day the first money and did well, though, I'm sure.

Paul Dawalibi:

Yeah. Look, first of all, I don't think it took

Paul Dawalibi:

them six months to raise this. I truly believe it's on the order

Paul Dawalibi:

of weeks, if not even less. And, you know, I've heard stories of

Paul Dawalibi:

Sequoia, you know, in some of the frothiest markets would

Paul Dawalibi:

literally just do that would send the letter out to their LPs

Paul Dawalibi:

and tell them look, here's your allocation. Right, you're we're

Paul Dawalibi:

raising a $2 billion fund your allocation is 200 million sign

Paul Dawalibi:

on the dotted line. And you know, we need the wire transfer

Paul Dawalibi:

by x XYZ date. I mean, in some of these frothy markets, this is

Paul Dawalibi:

how the Top funds top decile funds, go and fundraise,

Paul Dawalibi:

literally. And so I suspect this didn't take them very long to

Paul Dawalibi:

raise it all. And I suspect they're gonna deploy it

Paul Dawalibi:

relatively quickly, because I do believe there are probably

Paul Dawalibi:

bargains to be had. And the but I also think that the downturn,

Paul Dawalibi:

right, the ripple effect caused by the, you know, the blow up of

Paul Dawalibi:

the last couple of weeks is temporary, right, I think in in

Paul Dawalibi:

two months from now, three months from now, while the you

Paul Dawalibi:

know, the markets may be the public markets may still be in

Paul Dawalibi:

sort of a recession type of kind of zone. I think the enthusiasm

Paul Dawalibi:

for crypto people are going to forget very quickly, sort of

Paul Dawalibi:

this, this blow up and move on very quickly. Like I don't think

Paul Dawalibi:

this, the negative feelings and attitudes are going to last that

Paul Dawalibi:

long. And I don't think this like people are saying, Oh, the

Paul Dawalibi:

bubble burst must like to me, so a little air has come out. And

Paul Dawalibi:

then people aren't like we're gonna keep pumping air in.

Jeff Cohen:

I do wonder if we've we've hit an inflection point

Jeff Cohen:

where some of these projects that have no utility or like,

Jeff Cohen:

you know, the pictures of a rock that are selling for 20 eath.

Jeff Cohen:

Like, I hope that the bubble has burst on that. I think, clearly

Jeff Cohen:

you and I are believers in web three believers in this

Jeff Cohen:

Metaverse concept, but we do this podcast obviously. 100% But

Jeff Cohen:

and so projects that are building with actual value that

Jeff Cohen:

are Creek creating, like real technology in the space 100%

Jeff Cohen:

will still get funded because there's so much capital going

Jeff Cohen:

around. Maybe valuations briefly will be a bit lower. But I do

Jeff Cohen:

hope we're the speculative, FOMO mania, I hope that that's your

Jeff Cohen:

comment

Paul Dawalibi:

got a little no question. I think that that,

Paul Dawalibi:

Ben, this is why these natural cycles are good, right? They're,

Paul Dawalibi:

they're productive, you get rid of that 25%. That's like total

Paul Dawalibi:

noise. That's like short term cash grab. I think the industry

Paul Dawalibi:

will be way better off. That's why I say in two or three

Paul Dawalibi:

months, I think we'll be back to a lot of enthusiasm, but a lot

Paul Dawalibi:

of enthusiasm around really great projects or interesting

Paul Dawalibi:

projects. So that's it'll be interesting to see where and

Paul Dawalibi:

recent deploys all that money. But very exciting to see

Paul Dawalibi:

another, you know, huge amount of cash essentially being

Paul Dawalibi:

injected into the space. So let's talk about this next

Paul Dawalibi:

article. That Jeff, you flagged this one for a very specific

Paul Dawalibi:

reason. And I love the sort of the insight that's hopefully

Paul Dawalibi:

going to come from this and the headline here is web three games

Paul Dawalibi:

million on Mars and sunflower ran sunflower land will do cross

Paul Dawalibi:

chain event. So what's happening here is two web three games, two

Paul Dawalibi:

separate web three games, million on Mars, sunflower land,

Paul Dawalibi:

their play to own crafting games, they're creating a first

Paul Dawalibi:

of its kind cross chain, cross universe crossover event.

Paul Dawalibi:

They're built on different blockchains, wax and polygon.

Paul Dawalibi:

And they're going to enable what they say is coherent gameplay

Paul Dawalibi:

across two different networks. So two web three games building

Paul Dawalibi:

true interoperability between between the two of them. And and

Paul Dawalibi:

obviously, we've talked on this podcast about interoperability

Paul Dawalibi:

being one of those like, we will not reach the metaverse capital

Paul Dawalibi:

M until that box has been checked. Are you surprised to

Paul Dawalibi:

see something like this this soon? Do we think this is a bit

Paul Dawalibi:

more sort of PR fluff? Do you think there's going to be real

Paul Dawalibi:

takeaways and and sort of learnings from this that may

Paul Dawalibi:

lead to industry standard interoperability? I'm curious,

Paul Dawalibi:

Jeff.

Jeff Cohen:

It's the first step. I don't want to undersell This

Jeff Cohen:

is actually a big article, and like the title doesn't even

Jeff Cohen:

really do it justice. Like at all, it's fairly monumental, I

Jeff Cohen:

almost didn't even catch it. You know, it's one of the bigger

Jeff Cohen:

stories, I feel like in web three gaming, because it's

Jeff Cohen:

really the first time that one of the two separate companies, I

Jeff Cohen:

believe they're not owned by the same publisher or not owned by

Jeff Cohen:

the same developer. So two completely separate functioning

Jeff Cohen:

businesses that are trying to make profit for their

Jeff Cohen:

shareholders are coming together and having this concept of

Jeff Cohen:

interoperability. And what actually is the most surprising

Jeff Cohen:

is that it's across two different chains. Because I

Jeff Cohen:

could have seen a scenario where this was they were both on

Jeff Cohen:

Polygon, for example. And it was like polygon went to both these

Jeff Cohen:

studios was like, hey, look, we'll give you a bunch of money

Jeff Cohen:

to prove, you know, to kind of do a proof test case like we

Jeff Cohen:

want you to be the first like, hey, it's on the chain, you

Jeff Cohen:

know, it's a lot easier to put together two Lego pieces that

Jeff Cohen:

fit right use a stupid, probably bet maybe Good, maybe bad

Jeff Cohen:

analogy, but like they're on the same chain, it feels easier. The

Jeff Cohen:

fact that they're on two separate chains, is surprising.

Jeff Cohen:

So I would love to hear a bit more of a story of how this came

Jeff Cohen:

about, like EU approach to what the economic terms are. Because

Jeff Cohen:

like, we've talked about how difficult this is going to be to

Jeff Cohen:

achieve. And obviously, these are just two games, they're not

Jeff Cohen:

particularly high def graphics, like they're, you know, resource

Jeff Cohen:

management type games. So there's plenty of there's still

Jeff Cohen:

plenty that has to be done to make the metaverse a reality.

Jeff Cohen:

But I think this is pretty impactful. So I'm curious, your

Jeff Cohen:

thoughts.

Paul Dawalibi:

I think when the history is written, right, and

Paul Dawalibi:

we look back, people are going to be talking about this moment,

Paul Dawalibi:

in in much more meaningful ways. Like it, kudos to you for

Paul Dawalibi:

catching the story, because I agree that headline was not. It

Paul Dawalibi:

is really underselling this. But it'll be one of those, you know,

Paul Dawalibi:

I won't say like, Man on the Moon moments, but like, it'll go

Paul Dawalibi:

down, as you know, maybe the time someone sent their first,

Paul Dawalibi:

you know, TCP IP packet from one machine to another or something

Jeff Cohen:

like, I don't mean to cut you off, sir. Like when

Jeff Cohen:

new and esports are talking about when there's the esports

Jeff Cohen:

competition, the guy won the Ferrari. Yeah, like, exactly,

Jeff Cohen:

are you gonna be like that? Like, it'll be like, boom, you

Jeff Cohen:

talked about like that.

Paul Dawalibi:

And, and it's interesting, because when I saw

Paul Dawalibi:

the names, I had to think back, I had met the founder of the

Paul Dawalibi:

million on Mars game at the crypto Bahamas conference, which

Paul Dawalibi:

was I was at recently. And it struck me because I remember,

Paul Dawalibi:

you know, the guy was super sharp really understood what you

Paul Dawalibi:

know, where he was going with this. And it sort of all makes

Paul Dawalibi:

sense, right? Like really kind of forward thinking about, that

Paul Dawalibi:

goes beyond just sort of selfishness around success of

Paul Dawalibi:

his own game. But it's looking for six, like the pie to grow as

Paul Dawalibi:

a whole. And inter interoperability is key to that.

Paul Dawalibi:

So I mean, I just hope this is a massive success. I hope more

Paul Dawalibi:

people talk about it. I hope more people replicate this. And

Paul Dawalibi:

I love that it's happening, because that is, like we've said

Paul Dawalibi:

many times before, key pillar for, you know, any true

Paul Dawalibi:

Metaverse to actually take shape, or standards which allow

Paul Dawalibi:

this kind of interoperability. So

Jeff Cohen:

first and foremost, I hope and I think you said

Jeff Cohen:

this, like, I hope players appreciate this and opens. It's

Jeff Cohen:

a fun mechanic, I hope it brings value to both games, like

Jeff Cohen:

triggers. That's how that's how this is going to end up 60.

Jeff Cohen:

Like, the only way that this will work, is if it's fun for

Jeff Cohen:

the players, like if the players of both games, say, hey, wow,

Jeff Cohen:

I'm now playing both these games, I'm moving back and forth

Jeff Cohen:

between the two, I'm spending more money, I'm spending more

Jeff Cohen:

time I'm enjoying myself more, then every other developer is

Jeff Cohen:

going to look at this and say, wow, like, Okay, now we have to

Jeff Cohen:

do interoperability. Before it was like it's always been well,

Jeff Cohen:

why would I do it? I want to keep people in my game. But if

Jeff Cohen:

the players start demanding it, that's when you're gonna see

Jeff Cohen:

this space really quickly. inflection point, I think,

Paul Dawalibi:

true. They have to prove the value to the

Paul Dawalibi:

players. But it's also as I'm hearing you talking like, it

Paul Dawalibi:

really is so different from any game developer attitude we've

Paul Dawalibi:

seen in traditional gaming, right? Like, we talked about

Paul Dawalibi:

stuff on the business of esports podcast, it's really all the

Paul Dawalibi:

traditional gaming companies are really closed ecosystems. They

Paul Dawalibi:

do not want any interoperability, they don't

Paul Dawalibi:

care about any of that. And so it's interesting to see this

Paul Dawalibi:

initiative being taken. And like I said, I think we both hope

Paul Dawalibi:

it's massively successful. So let's move on. Let's talk about

Paul Dawalibi:

the NFL and mythical games here, Jeff. The headline here NFL

Paul Dawalibi:

mythical games to launch, play and own NFT game, NFL Rivals. It

Paul Dawalibi:

says even in this bear market, the NFL is bullish. NFL is

Paul Dawalibi:

bullish on blockchain gaming. Basically what they're doing.

Paul Dawalibi:

This Is Mythical games partnered with the NFL, developing a

Paul Dawalibi:

blockchain game called NFL Rivals. It's like a fantasy

Paul Dawalibi:

football game. So you act as like the general manager of an

Paul Dawalibi:

NFL team. You trade and players, you build up players. They're

Paul Dawalibi:

all NF T's like the team building is NF T's. And they,

Paul Dawalibi:

the NF T's represent ownership of assets, right? Obviously,

Paul Dawalibi:

players or things like that. And it's going to be free to play,

Paul Dawalibi:

you're going to get a starter team at first launch. But as you

Paul Dawalibi:

go along as you compete as you win matches or complete

Paul Dawalibi:

objectives, you'll have the opportunity to win tokens or NF

Paul Dawalibi:

T's that they don't give any details on here just says the

Paul Dawalibi:

ethical isn't quite ready to share any details on earning

Paul Dawalibi:

tokens. But that's, I suppose it's going to be better players

Paul Dawalibi:

are better ways to improve your stats, things like that. So what

Paul Dawalibi:

do we make of mythical in the NFL doing this together? The NFL

Paul Dawalibi:

invested in mythical Oh, that's an interesting data point. They

Paul Dawalibi:

were part of mythical Series C round which was $150 million. So

Paul Dawalibi:

NFL has a vested interest in mythical clearly there bullish

Paul Dawalibi:

on blockchain gaming. Do you think this is the right

Paul Dawalibi:

activation and the right, you know, the right fit?

Jeff Cohen:

Yeah, I mean, the NFL has been pretty forward

Jeff Cohen:

thinking actually, in recent years about their kind of gaming

Jeff Cohen:

strategy. I think they signed it the historically they obviously

Jeff Cohen:

had Madden and that was kind of like the main NFL video game.

Jeff Cohen:

And it's still largely is, but I think in the last couple of

Jeff Cohen:

years, you know, one they signed the deal for more of like an

Jeff Cohen:

arcade style game would take to that I believe is supposed to

Jeff Cohen:

come out sometime in the next two years. That'll be a little

Jeff Cohen:

bit like almost like NFL Blitz. There obviously doing this now.

Jeff Cohen:

And they also did a deal with skills where they're they

Jeff Cohen:

created like, they licensed games to skills, the peer to

Jeff Cohen:

peer kind of wagering company to build the build mobile games. So

Jeff Cohen:

I think the NFL was being smart in terms of diversifying away

Jeff Cohen:

from just not getting into web three getting into pure peer,

Jeff Cohen:

they obviously have been pretty heavily into sports betting with

Jeff Cohen:

partnerships with DraftKings FanDuel. So kind of broadening

Jeff Cohen:

out there like Interactive Entertainment slash gambling

Jeff Cohen:

content. So I think that's smart. It's interesting that you

Jeff Cohen:

know, they chose to invest in mythical I think, I don't even

Jeff Cohen:

know the LEA had a VC arm. So that's, that's kind of cool

Jeff Cohen:

called Dark 32. Equity. That's, that's, that sounds like a fun

Jeff Cohen:

place to work. Yeah, other than that, I mean, you know, sports

Jeff Cohen:

games are good for this, I think so rare, has proven with soccer,

Jeff Cohen:

like they've had a pretty good model. We saw dapper labs with

Jeff Cohen:

their NBA Top Shot, which isn't specifically, exactly this, but

Jeff Cohen:

the crossover between sports esports and crypto is one that

Jeff Cohen:

we've talked a lot about. So I do think this will find an

Jeff Cohen:

audience. The typical kind of crypto fan is usually like a

Jeff Cohen:

young male. So that's kind of the NFL is audience. So I

Jeff Cohen:

suspect if they build a game that actually is that actually

Jeff Cohen:

works like an economy that works in a game that's somewhat fun.

Jeff Cohen:

They'll probably have success, I think. I mean, Jeff, let's

Paul Dawalibi:

talk about that, though. The average NFL fan

Paul Dawalibi:

first of all still, like in their 50s. Right, like it's

Paul Dawalibi:

still it's still trends, older, most traditional sports trend

Paul Dawalibi:

older, I think it's actually exactly 50. The latest date,

Paul Dawalibi:

I've seen that I see a few potential scenarios, and I'm

Paul Dawalibi:

curious which one you think is most likely? Do you think this

Paul Dawalibi:

kind of partnership results in a bunch of like, older than the

Paul Dawalibi:

average crypto user, people creating wallets getting into

Paul Dawalibi:

blockchain gaming discovering this for the first time? So

Paul Dawalibi:

tapping into an entirely new, older audience, that crypto may

Paul Dawalibi:

never have reached before? Or do you think just the few you know,

Paul Dawalibi:

the minority of young NFL fans will look at this and think it's

Paul Dawalibi:

interesting because they understand crypto, they probably

Paul Dawalibi:

already have a wallet. And you know, it's already a fit. So it

Paul Dawalibi:

doesn't really grow the pie, but you have this, you know, the

Paul Dawalibi:

people who are already crypto enthusiast, who also like the

Paul Dawalibi:

NFL get into it? Or do you think the third scenario I see is it's

Paul Dawalibi:

just totally like, the fits not there at all right? So you, you

Paul Dawalibi:

get it's with falls flat because the people who this is targeted

Paul Dawalibi:

that don't have crypto wallets don't want crypto wallets don't

Paul Dawalibi:

know how to have crypto wallets, and therefore, getting started

Paul Dawalibi:

with a blockchain game is too, too heavy of a lift to make

Paul Dawalibi:

happen.

Jeff Cohen:

I definitely don't think it will be one. I think it

Jeff Cohen:

will be two or three. I guess I already said I think it will be

Jeff Cohen:

successful. So I think it'll be too I think you'll get maybe

Jeff Cohen:

that 18 to 27 year old like, crypto audience, who's also a

Jeff Cohen:

football fan. And it will be played around or planned on

Jeff Cohen:

whatever they want to call it. So if they build an economy,

Jeff Cohen:

build some hype, like maybe they'll get some sponsors to

Jeff Cohen:

come in and kind of pump it like some NFL players, or former

Jeff Cohen:

players. And so maybe you can hit like that that sort of S

Jeff Cohen:

curve like hype cycle. I think it'd be that I don't see like 55

Jeff Cohen:

year old like, you know, the Bears fan from Chicago, like

Jeff Cohen:

going and like becoming a huge fan of this mobile game. That's

Jeff Cohen:

just my intuition. I don't I don't know. What do you think?

Jeff Cohen:

Which would you bet? Yeah.

Paul Dawalibi:

I try like, I'm gonna be a little bit of a cop

Paul Dawalibi:

out here. But what else can the NFL do? Right? I always come

Paul Dawalibi:

back to that. You have an audience that's getting older.

Paul Dawalibi:

Right? You're challenged from every side whether it's gaming,

Paul Dawalibi:

whether it's other forms of entertainment, right you there's

Paul Dawalibi:

pressure from all sides to grow the sport to grow the fan base.

Paul Dawalibi:

How else do you reach younger fans? How While still, you know,

Paul Dawalibi:

trying to get people more excited about the NFL, I feel

Paul Dawalibi:

whether we think it's going to be a huge success or not. You

Paul Dawalibi:

have to be doing this, or at least you have to be trying

Paul Dawalibi:

these things. And so it's hard to it's hard to fault them and

Paul Dawalibi:

say, Oh, this is not a perfect fit, your audience is a bit

Paul Dawalibi:

older. I am. Well, that can't paralyze you, right. As a

Paul Dawalibi:

business, you can't just be like, well, our audience is

Paul Dawalibi:

older. So you know, we give up. And so I like it, right? Like I,

Paul Dawalibi:

I don't want to like it that I think it's a little bit cheesy.

Paul Dawalibi:

And like, I don't I don't think it's that exciting. But at least

Paul Dawalibi:

they're doing something at least they're trying something at

Paul Dawalibi:

least they're gonna put something out there that try and

Paul Dawalibi:

reach that audience. And I applaud them for that. I do hope

Paul Dawalibi:

it's a success because of that, because it grows the pie if it

Paul Dawalibi:

is. So we'll see. It's an interesting one. One last story

Paul Dawalibi:

here that I think is also interesting. And and you know,

Paul Dawalibi:

we talk about this stuff a lot in the on the gaming side. But

Paul Dawalibi:

in the metaverse perspective, this this is one of the first,

Paul Dawalibi:

if not the first articles, but you know, we're seeing more and

Paul Dawalibi:

more of this trend, and that is what I'll call like

Paul Dawalibi:

infrastructure. And and the headline here is Helpshift

Paul Dawalibi:

launched his free plan for Metaverse, customer support.

Paul Dawalibi:

Now, don't really care about what this plan is. It's more

Paul Dawalibi:

wanting to discuss help shift and this idea that it's a

Paul Dawalibi:

customer service company in app customer service that is focused

Paul Dawalibi:

on Metaverse apps. So we're starting to see now very

Paul Dawalibi:

specialized CALL IT infrastructure and services

Paul Dawalibi:

targeted at Metaverse stuff, Jeff.

Jeff Cohen:

So this makes perfect sense. I mean, if you

Jeff Cohen:

assume we're all going to be living, you know, we're going to

Jeff Cohen:

be spending a lot more of our time in Metaverse, you do need

Jeff Cohen:

some sort of customer support. And it should probably be native

Jeff Cohen:

to the metaverse, right. Like if you're in decentraland. And all

Jeff Cohen:

of a sudden, you're, you know, your sword disappears. Like,

Jeff Cohen:

you're gonna want to be like, hey, like, what happened to my

Jeff Cohen:

sword, like it just stopped working or disappeared or

Jeff Cohen:

whatever, I froze, whatever you might, rather than popping out

Jeff Cohen:

of the screen and typing into a chat window, or God forbid,

Jeff Cohen:

calling a one 800 Number. Maybe it would be cool if like, you

Jeff Cohen:

could just like click a button and all of a sudden that avatar

Jeff Cohen:

comes over to you. And you're just having a conversation as

Jeff Cohen:

you would in the metaverse with a chat effectively, what is a

Jeff Cohen:

chat bot? But it is an avatar. And it's not that crazy of a

Jeff Cohen:

concept, right? Like I remember, you know, you remember 10 years

Jeff Cohen:

ago, it would have been insane to think like, hey, customer

Jeff Cohen:

service, you're going to text, you know, you're going to text

Jeff Cohen:

with them. Or it's going to be a chat window, you'd be like No, I

Jeff Cohen:

have to call one 800 Number or like write a letter. Now like,

Jeff Cohen:

you know, I always have an experience whenever I'm like

Jeff Cohen:

booking a Delta flight like I always, like, you know, if I

Jeff Cohen:

have to change something I'm always texting. And it's

Jeff Cohen:

actually incredibly easy. Because it's asynchronous. And

Jeff Cohen:

it's it's actually like a somewhat pleasant experience. So

Jeff Cohen:

I think that, like, this is a big trend, just in general, like

Jeff Cohen:

b2b enterprise software, it's like the consumerization of

Jeff Cohen:

enterprise products. So it's not surprising that the metaverse,

Jeff Cohen:

you know, would would need kind of these things that are you

Paul Dawalibi:

know, it's one of those again, we'll look back on

Paul Dawalibi:

these moments is like, infrastructure and services are

Paul Dawalibi:

key to lay the foundation for everything that's being built,

Paul Dawalibi:

right. And these are boring businesses, right? Customer

Paul Dawalibi:

service is not an exciting, it's not as exciting as doing you

Paul Dawalibi:

know, fighting robot chickens, right? Like, it's just, it's not

Paul Dawalibi:

as sexy, it's not as exciting. But you need this stuff. And

Paul Dawalibi:

when this stuff starts popping up, this is where I start to get

Paul Dawalibi:

excited about the industry and where it's going as a whole

Paul Dawalibi:

because there's a recognition that to your point your sword

Paul Dawalibi:

disappears, you're gonna need someone to talk to so business

Paul Dawalibi:

view on this is very excited about it love seeing this, we're

Paul Dawalibi:

going to see a lot more right the stories, I you services and

Paul Dawalibi:

infrastructure ends up being a lot of, you know, in this where

Paul Dawalibi:

we are in the lifecycle, I think of what we're going to see going

Paul Dawalibi:

forward. My sort of silly your take on it is if we go back to

Paul Dawalibi:

the original Metaverse World of Warcraft, which I will call the

Paul Dawalibi:

original, like, I know there's meta verses before that, but the

Paul Dawalibi:

real the real one that matters. And as a gamer, I can say that

Paul Dawalibi:

World of Warcraft, right? You know, those things happened in

Paul Dawalibi:

World of Warcraft, like your sword could have like, could

Paul Dawalibi:

sometimes disappear. You would loot a monster and maybe not get

Paul Dawalibi:

the thing you were supposed to get. And there were people in

Paul Dawalibi:

World of Warcraft that were like guides or Game Masters

Paul Dawalibi:

essentially, that would show up they would appear right in the

Paul Dawalibi:

game to solve your problem get you unstuck try and get your

Paul Dawalibi:

sword back whatever it was. The funny thing about WoW is there

Paul Dawalibi:

were there were instances in WoW of where the customer who these

Paul Dawalibi:

people who are essentially customer support because they

Paul Dawalibi:

had to To solve these kinds of problems, they were essentially

Paul Dawalibi:

like the most powerful beings within Wow. And within this

Paul Dawalibi:

Metaverse, right, like they had to be all powerful to be able to

Paul Dawalibi:

solve people's problems. And you ended up with customer support

Paul Dawalibi:

people who had God complexes, right? Because they could go

Paul Dawalibi:

anywhere, do anything, make anything appear disappear, right

Paul Dawalibi:

to be able to solve, and I fear that customer support in the

Paul Dawalibi:

metaverse specifically, they go down this path of you need to

Paul Dawalibi:

give them powers. But powers in a virtual universe go beyond

Paul Dawalibi:

just like, hey, I'm processing your refund over the phone. You

Paul Dawalibi:

become like way more powerful in a virtual setting. In the

Paul Dawalibi:

metaverse

Jeff Cohen:

centralized, and there's real dollars in play

Jeff Cohen:

like, you know, this kind of gets goes to the elf con

Jeff Cohen:

concept. You know, this here and this this article that I'm

Jeff Cohen:

pulling up, the elf will be the most powerful and subtle form of

Jeff Cohen:

coercion in the metaverse. These electronic life facilitators are

Jeff Cohen:

the natural evolution of digital assistants like Siri and Alexa,

Jeff Cohen:

but they won't be disembodied voices in the metaverse.

Jeff Cohen:

There'll be an through I don't know what that word

Jeff Cohen:

anthropomorphic for so anthropomorphic personas

Jeff Cohen:

customized for each customer. Yes, they'll be else. Very

Jeff Cohen:

interesting. This is a fascinating art,

Paul Dawalibi:

all powerful else. That's what people have to

Paul Dawalibi:

look forward to in the metaverse what better way to end Jeff, I

Paul Dawalibi:

gotta say, another great episode. I enjoyed this. Thank

Paul Dawalibi:

you. Thank you guys for listening and tuning in every

Paul Dawalibi:

week. Don't forget, make sure to subscribe to the podcast on

Paul Dawalibi:

whatever app you get us. Share it with a friend send it to like

Paul Dawalibi:

two people or leave a review one or the other. Do one of those

Paul Dawalibi:

two things. We really appreciated how the podcast

Paul Dawalibi:

continues to grow. We'd love doing this for you guys. It's so

Paul Dawalibi:

much fun every week. Don't forget, the future is fun. We

Paul Dawalibi:

will see you guys next week.

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