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Thursday, November 17, 2022 12:45 p.m.

Citibank estimates that the Web3 metaverse could be worth $13 trillion by 2030 and have up to five billion users. Web2 allowed us to create and share data in the form of documents, photos and videos. Web3 built on the blockchain allows us to own or share the profits of our creations. Blockchain provides guaranteed authenticity and chain of title (ownership). Countless examples abound such as:

= One can join any of the countless DAOs being created, own their tokens or NFTs, and then play a role in their potential, either through governance tokens where you can provide advice through voting or through tokens security where you share its assessment.

=Join a game or music platform and you can instantly transfer your game items or music playlists to any other game or music platform. Your tracks aren’t held hostage on Spotify.

= Profit share in the value of a brand. cents announcement it would pay royalties to owners of NFTs used in some of its clothing collections. Each new clothing line using this emblem would earn you a dividend. This partial decentralization of brand value prompted The Hundreds community to go out of their way to promote it. Shared ownership encourages everyone to become a builder and a contributor.

= Be an early investor in an unknown artist or musician who shows great potential by buying their NFTs. If they become a star, their NFTs will increase in value. This is analogous to how people buy “rookie” cards for athletes. The NFT could also grant special rights to these NFT holders, such as free participation in their shows, special products, members-only channels or participation in royalties. This stimulates community involvement.

=Launch a Web3 subscription-based business where a DAO can be created that offers a subscription-based product, such as a newsletter. Two or more levels of NFTs may be issued to subscribers. Level 1, whose NFTs are unlimited, grants the subscriber access to paid content for a fixed period of time. Level 2 NFTs, on the other hand, are limited, meaning that there are only a certain number of customers who can purchase that level. Members at this level receive dividends on income from Tier 1 purchases, so they have an economic incentive to help market and grow the Tier 1 customer base.

Because of the way Web3 is designed, every Web3 company can rely on. This means the community around a platform can co-create, allowing the platform’s ecosystem to grow even stronger.

Essential Freedoms

The metaverse is a social and ownership layer on the internet that connects people, places, and things. We have a self-sovereign identity. This means that one cannot be censored unlike what we have seen Big Tech do to certain individuals or certain words or topics such as COVID. Orwell’s “1984” rings true once again. The mere mention of the word COVID could penalize the user on major social networking sites such as YouTube, Facebook, Twitter or Instagram. These sites have no choice as the big reveal showed communications between the CIA and these companies telling them what to ban. The freedom to communicate, share and exchange value are the main use cases of Web3. Without these freedoms, all other freedoms collapse.

The metaverse is transformational

The Web3 metaverse is powered by a combination of VR/AR, 5G networks, blockchain and AI. It will transform the way we live every day, impacting every industry, from retail to advertising, education and entertainment, science and invention, governance and voting. Over the next decade, users will be to Web3 what software engineers were to Web2.

AR/VR/AI glasses will become a standard. A holistic projected screen that is enabled by voice recognition and sensitive to touch will allow us to easily tell our browser what to do, what program to run, what game to play, where to buy or who to call in a fun and very efficient way.

Your AI knows your detailed measurements and can therefore create a fashion show featuring multiple copies of your avatar wearing the latest 20 models on a catwalk. Your AI knows the dimensions of every room in your home, so it can suggest furniture that might suit your tastes, then show you around each room in 3D.

The future of collaboration, whether it’s a Thanksgiving dinner or a board meeting, will never be the same. Each member of a dinner could be in a different part of the planet but represented in real time in virtual space by their avatar. The Covid-19 pandemic has disrupted the workplace and sent the vast majority of employees home to work using Zoom, Microsoft Teams, Google Meet, Slack and other collaborative tools leading to their meteoric adoption and usage. A new generation of virtual and fully immersive collaboration environments will arrive over the next few years following the release of Apple’s AR/VR headset and next-generation glasses.

On Metaverse Green Businesses: Cellular Agriculture & ReFi

Over the next decade, ethical, nutritious and environmentally sustainable protein production systems will become widely available. Cellular farming will give rise to meat from stem cells and reduce the cost of producing a single molecule of a cell-based beef burger from $1M/kg in 2000 to around $100/kg in 2020, and is expected to drop below $10/kg by 2025. This will create mass adoption at minimal cost to the environment while dramatically reducing animal slaughter.

Similar cost reductions are seen in stem cell-based chicken and fish. This technology will allow the production of beef, chicken and fish anywhere, on demand, and will be more nutritious and environmentally friendly than traditional farming options. Companies such as OMeat and JUST are now ramping up production.

Indeed, regenerative finance is taking off on the Web3. We all know CeFi and DeFi but now there is regenerative finance, or ReFi. Web3’s ReFi is the environmental iteration of DeFi. It rewards those who create positive effects on the environment while charging those who create negative ones. ReFi includes UBI, lending and data ownership, among others, including environmental projects such as Toucan which tokenizes carbon credits with over 21.9 million tonnes of CO2 to date, and Loam which creates a market for agricultural data to incentivize farmers through a token reward to engage in regenerative practices that will help the environment.

Web3 makes things more efficient, transparent, and composable so others can easily build on the existing structure. Some cryptowhales have found it much easier to buy tokens to offset carbon footprints than buying carbon offsets from traditional brokers.

Ahead!

It is much easier to launch a product in Web3. Even an unknown entrepreneur can create products that connect to an existing network without permission from an established platform. Web3 is trustless, so there is no need to trust the company or the people behind a project. The code itself is what is important. Some recent fundraising campaigns supporting humanitarian relief efforts in Ukraine, for examplethrough NFT and were executed through smart contracts that automatically transfer all funds received to the Ukrainian government or associated charities, as seen on the blockchain.

Web3 provides permissionless and open technologies that drive permissionless and open workforces. Anyone can join and contribute to communities or businesses through a DAO or NFT. Location, age, race and even past experiences are irrelevant. What matters is whether you can bring value to the community. If the DAO issues a token, that token will increase in value if the DAO offers utility. The token is an automatic way to raise funds for the DAO. This could take various forms, such as a DAO that offers tokens to environmentally conscious farmers, proven by various metrics such as carbon credits.

Tokens are the oil of the blockchain virtual machine. Web3 has the potential to unlock a more valuable Internet for everyone. New businesses can leverage the Web3 infrastructure to build communities around their brands and product concepts much more easily than in previous versions of the web. And even established platforms can leverage these strengths by connecting to blockchain-based content networks and giving their users some ownership over their data. Meanwhile, anyone can build on any platform because the Web3 metaverse carries the composability properties. All of this means that the next era of the web will likely be very different, much more open and even faster growing than the one we live in today.

(͡:B ͜ʖ ͡:B)

Dr Chris Kacher, PhD nuclear physics UC Berkeley/record KPMG audited stock and crypto accounts/bestselling author/top 40 musicians/fintech blockchain specialist. Co-founder of Virtue of Selfish InvestingTriQuantum Technologies and Hanse digital access. Dr. Kacher bought his first Bitcoin at just over $10 in January 2013 and contributed to the first Ethereum development meetings in London organized by Vitalik Buterin. His metrics called out every major bitcoin high and low since 2011 in a matter of weeks. It was up in 2018 against the performing crypto hedge fund (-54%) [PwC] and is well ahead of bitcoin and alt coins over the cycles as capital is forced into the better performing alt coins while the weaker ones are sold off.

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