{"id":"GC_cAKqytgY","title":"Building the Infrastructure to Onboard 1 Billion Users - Panel - Near Day at ETHDenver 2023","description":"Join NEAR's community:\nWebsite: https://near.org/\nReddit:   / nearprotocol  \nDiscord: https://near.chat/\nMedium:   / nearprotocol  \nBlog: https://near.org/blog/\nTwitter:   / nearprotocol  \nGitHub: https://github.com/near  https://github.com/nearprotocol\nDev Docs: https://docs.near.org/\nCreate a wallet: https://wallet.near.org/create\nApps on NEAR: https://awesomenear.com/\nLearn to Build On NEAR: https://www.near.university/\nGrants & Funding: https://near.org/grants/\n#Blockchain #FutureisNEAR #NEAR #nearprotocol\n#nft #dao","channel_name":"NEAR Protocol","published_at":"2023-03-17T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/GC_cAKqytgY/hqdefault.jpg","transcript_text":"hi everyone super excited to be here to talk about what we all get to do which is really bringing about the next billion users uh into crypto so without further Ado it's an awesome privilege to have everyone here on this panel today uh my name is chia from Patera Capital um helped to cover um all the kind of consumer infra Investments at Pantera we've got an amazing selection of folks here today to talk about what they're building maybe starting from this order can you please give us a quick introduction of yourself and brief few sentences of your background once you're building and how you decided to land on this problem that you're solving today sure um my name is Oleg fomenko I'm co-founder of sweat coin and now sweat economy I presented earlier we basically started in 2014 thinking that we will be on blockchain but could only move in 2022 and we are making the world more physically active we allow you to earn sweat simply by walking so the problem we solve is making World physically active and bringing tens of millions of users into web3 because we already have 15 million token holders and 5 million sweat wallet downloads on near so you can we're really really excited to be part of this ecosystem hi everyone my name is Chris Gayle I'm the co-founder of an nft Marketplace called fion far we've been building on there over the past 12 months and what we really see with our background we work a lot with Fortune 500 companies in previous businesses and making nfts making web3 more accessible for the mass markets is a key problem that we're solving and thanks to a lot of nears uh great technology and onboarding solutions we're able to do that very very seamlessly and efficiently and then we also have an infrastructure side of our business which we're providing API and entity tools for great projects to to build and scale nfts on on near hi I'm Hugo I'm CEO of playamba so we're a mobile game studio with over a hundred million downloads and about a year ago we started making the move to web3 and we've created some infrastructure so a Unity to near SDK you can basically plug it in with a few minutes and turn a web 2 game into a web 3 Lite experience and I'm Daryl Fannin CEO of Keno we are a company that is decentralizing film and television and giving you access uh to behind the scenes and that you can be a part of movies that you'll love I've created some TV shows with Matt Damon his arch nemesis Jimmy Kimmel uh and I'm very fortunate uh to have access to some really incredible creators and we're going to be launching movies this year awesome so I think I'm super excited because uh the speakers here today have a lot of experience bringing Just users into web 2 space reaching the mainstream audience and so really excited to see what we can learn today so maybe we'll start off with um Chris you know what are some of the problems that you see in the nft ecosystem at the moment and and how do you think about how growth is gonna emerge over the next few months and years and decades sure yeah great question we've heard this a lot today on a number of talks and panels that are just web3 is very very uh hard for for new users and the masses to get on board you've got the whole uh figuring out third-party wallet extension like a metamask how to then fund that metamask um how to send crypto to bridge to change Chains It's very very complex and we often use an interesting analogy of then you know if your mom can do it if your parents can't do it then you're not going to get the masses on and so we really believe that solving that and making a seamless onboarding and user experience to come on board and then start trading digital Collectibles minting nfts is a really great way to onboard the masses and that's the one big area on the UI ux the second is an interesting and very new trend at the moment that we have a problem with in the nft market and that's royalties and it was a problem that started back in uh September time which where we identified and started trying to solve which was the ability for nft marketplaces to control the business logic of these nft contracts so if we look at open C we look at Magic Eden when they design the marketplace mechanism they kept the business logic in the marketplace which is very anti-web three ethos and so the analogy is you're trusting a if you had a store and you had a cash register imagine trusting a stranger that you've never met before to come in and then sell through your cash register um now what we're doing at few and far is looking to redesign um so the business logic goes where it belongs which is in the smart contracts of the Creator where they have full control and ownership of that contract without them having to worry about a third party Marketplace or or company coming in and not honoring the royalties which they were expecting and the revenues that they were generating gotcha so I I think I really love you know we're here to solve problems for creators you're building the infrastructure just to protect those rights and the economic you know benefits that that will really hear the the to help create this with yeah so what we've seen in the generation one of nft has been a lot of pfp projects um very much Native within the the crypto Trader environment and world and they've been trading jpegs of monkeys and everything's been great to demonstrate the technology um but it then doesn't scale to the millions and millions of users um that we want to get on board and that's where we're seeing um Fortune 500 Brands and companies that are looking to in build and market and engage with with huge communities plus also generate from secondary revenues that they can sell through trading digital Collectibles and it becomes a revenue stream and that is the business logic that's going to determine Fortune 500 Brands like Disney like Starbucks to then want to enter the web 3 space um and the two questions they're going to ask is um is it easy for my millions of customers and users to adopt or is it going to be a nightmare to try and onboard these users and promote this campaign and second of all what's in it for us as a publicly traded company and how much revenues are we going to make from this and so redesigning the the problem we need to solve those two issues before we can really scale this as a as an industry gotcha it's super interesting so maybe talking a little bit about um media powerhouses I think Daryl you've had a lot of experiences uh I'm sure some in the audience have even seen a lot of the work that you've helped to produce and create and so um can you tell us a little bit about how you see you know culture and money coming together to bring about the next billion users how is what you're building speaking to the average person on the street that's a great question so the biggest thing to me is right now there's a lot of Gatekeepers and barriers to the people who are making the greatest entertainment of Our Generation like for 30 000 years we've used stories to convey the most important elements of humanity and the way that we tell stories today one of the most visual mediums is in film and television and so for me the idea that we can create communities who can connect directly with those creators and participate in the creative process that's a really exciting thing and so um you know I think a lot of the problems that we have Chris spoke to this is the usability of blockchain there's such a fall off right now and but if we bring people in and we explain to them the value that they get from the blockchain if they can understand that they can participate in something that they already care about then we're going to help onboard millions of people in a much more efficient and natural way so by creating an opportunity for you to engage with the creator of your favorite TV show or of a movie you can literally buy a behind the scenes pass where you can do q and A's with the cast and crew you can you can get updates from set you can participate in the creative process of these things that allows you to engage in a completely new way that is very much you know centered around the web3 ethos and we see so many of these creators who don't necessarily participate in the royalties uh even of the shows that are created sometimes you can create a billion dollar franchise and make a few hundred thousand dollars but if we bring in the fans we can say hey you know what you can connect directly with this Creator and then you can share in that value system back and forth so to me the average person if we can figure out a way to bring them into something that they already want to do in something that they want to engage with whether that's film and television whether that's you know a physical collectible with an on-chain proof of authenticity or through ticketing there's a lot of values that we can bring in and we can bring them in in a way that's very natural as opposed to you know the friction process of like creating a metamask wallet and figuring out how to put money into it gotcha okay so I'm Joe on the street um I just logged on to The Kino website for the first time can you talked me through some of the projects that you're working on like what am I going to get excited about yeah so we're going to do an official announcement of our uh our movies in a couple of months so we haven't actually launched any of our films yet uh but we have spent the last year uh really building in Partnerships with some of the most amazing creators and I've been very fortunate uh with my community um in film and television to be mentored by some fantastic individuals and so what we did is I went and found creators who had created hundreds of millions and billions of dollars collectively for these other Industries and they they go to one of the big six and I said hey I'd love to help you Market your film uh from the very beginning I'd love to bring you like fans in from the beginning and uh so we have a lineup of 10 films that we're going to launch uh starting uh in a couple of months actually gotcha uh super excited for that looking forward to that um cool so one of the favorite things uh I like to talk about video games I'm addicted to it spend way too much money on it so Hugo you are the reason why my girlfriend has problems with me can you help me understand you know some of the problems that you're helping to solve for players and a huge Mobile gaming ecosystem at the moment sure sure so I think at the at the moment there are two big problems with the mobile gaming ecosystem one is for the mobile game studios and then one is for the players for the mobile game uh Studios it's actually a web 2 problem and a web 3 problem it's super super hard at the moment to build a profitable mobile game and I think that's due to the market advertisers don't want to advertise as much but actually I think that's a huge opportunity just in general for web 3 and web3 product and I think that's that's where we will really onboard a lot of people when we can create a web 3 product which is better than the web 2 incumbent because I think what we're doing we're we're not competing with other web 3 products we're competing with the web 2 ones with great ux great UI so I think that's a a basically a great opportunity at the moment to um to kind of seamlessly onboard people and onboard mobile game studios so with our Unity SDK we can kind of onboard these mobile game studios really really quickly within a few minutes and give these mobile game studios another line of monetization and then on the other side so the players and I think this is a problem that players aren't overly aware of or aware that it can be different currently they're being monetized super super aggressively um and it's kind of a Walled Garden at the moment the web 2 mobile game ecosystem so you've got Apple and Google and you've got all of these ad providers that aggressively monetize and the users the players never get anything back for it um but we've found that actually if you do give something back or you can say right continue to play our game for a bit longer and you'll get an nft or they're actually using the word nft kind of meant the conversions went down massively so you call it Collectibles and avatars um that actually made people stick around for way longer and actually consume more ads have a higher long-term value LTV and the retention stats for kind of day seven went up 100 so these are all really great kind of in-game stats that went up because the player was more rewarded and more happy and just things like ratings go up um so yeah I think we need to speak in the in the language of the mass market and make product that is better than the web to incumbents gotcha so I I really like that framing that you said right like we're not trying to create um the best web tree experience we're not competing with other web free players we're just creating a better experience full stop and that experience is going to bring everyone on board if it's objectively you know the thing that users want and maybe I'd love to dig into that a little bit more uh you talked about you know framing as Collectibles uh as rewards can you talk me through how some of those uh rewards and uh kind of collectible Dynamics have emerged in some of the games that you've been helping develop how users have been particularly receptive to certain things yep yeah so one thing that's worked really well is fractionalized prizes or fractionalized nfts so say you're in one of our games rough life and you get the bottom half of uh it's the example everyone uses a sword so the bottom half of a sword um and then we say okay you need to play our other game and search around for the top half of the sword when you get both then you can merge them together and that's your your new nft your new collectible and you can use that and hopefully in time we want that to be a real social element so I've got the bottom half you've got the top half I'll give you 300 coins for it and we kind of swap like that gotcha I think we're joking uh backstage that that sounded a little bit like the McDonald's Monopoly game um that I never won I don't think anyone ever does or maybe I just didn't have enough friends um so um okay great so oh oh look um you know I think what you've done with set quiet has been you know truly remarkable um hundreds of millions of of users really on board and using the product especially given the background you know you guys were building in the web 2 space and transition over the web tree so as you as you made that transition I think you have a really unique perspective about what works to onboard people from web to the web tree could you maybe talk through some of the lessons that you might have observed that might be helpful for some of the builders Founders uh even investors in the room sure it would be pleasure um very good question because we've as I mentioned in my presentation we've been looking at blockchain from 2014 but actually when we started the migration and we started putting specifics into the launch we realized how sort of complicated and how diverse the opinions were what was the role of web3 and how we should be playing on it so the framework that we ultimately developed was you really need to think about your use case not from technology perspective but from the user perspective and very frequently we don't talk about it because we as a business you normally have a use case but if you kind of lift yourself off and just hearing this gentleman speak you know can you need to think about Mass Market need and the problem that you are solving and once you have definition of that problem and there is an ownership element in it then you actually have a very very good and interesting use case that you can take into web3 in our case it was we are ready for seven years we're paying people for their movement with sweat coins that were centralized they existed in our blockchain called postgres SQL database they could only be used inside our app so with a terribly sub-optimal and we wanted to pay users with real blockchain you know can based currency and users really gagged for it they wanted it they demanded it and we now know that it is a humongous benefit for us and for them when we were able to start delivering it so first use case second thing is and gentlemen here have already referred to it all of them is UI ux it it is not good enough to put a 24 word seed phrase massive red banner on top of it if you lose this you screwed and then not even add a copy uh button underneath it because for the next hundreds of millions of users this is not the experience that they will cope with and a lot of them are burned like a lot of our users they already had experience we had interviews experience of starting wallets and just simply couldn't go through the onboarding process they just bulked and they said this is too complicated this is too scary the words were not understandable so I just can't engage with this so you need to think about it from first principles how would I build this for my mom for my grandma and once they understand then you're on to something and the third thing and I think that this is probably the most controversial is if we are thinking about bringing the next billion people we need to make make sure that the entry is either free or extremely extremely extremely low value required from them because there are no whales left who are not engaged the average person in all around the world is not going to have more than 10 to 20 bucks to their soul at any moment of time Eight dollar transaction on ethereum is probably gonna wipe you know kind of the the balance of any person that is out there waiting to jump into web3 so we really need to think hard how to remove these barriers how to make ux great how to make it free for them educate them and then they will engage and they'll add value thank you so much for that I think we got pretty good uh reception to to that view uh I actually love to dig a little bit deep into what you just said I know you mentioned a couple of very specific examples but have there been other examples maybe on the kind of ux or feature set where once you launched it for you it immediately became clear that this made a ton of sense or it became clear that this did not make a ton of sense and you know you you move it away from that hmm oh you know what I'm going to talk to a my biggest bug bear uh right now like you know the thing that we're solving it's a swap experience um because Swope experience special indexes is you choose the asset that you have and then you choose the asset that you want to get in return it is insane user experience I mean honestly this is like going to 7-Eleven and declaring at the entrance I've got 56 bucks and 97 cents what can I get for it nobody shops like this I mean humans really do not spend money in this way ever with exception of the swap functionality how the hell did we end up in this situation right when you walk into 7-Eleven you think two milks one you know bread and I don't know whatever crate of beer so the swap exchange and the trading should be exactly like that you need to choose what you want you need to choose the amount that you want and then you choose how you're going to pay for it and not in any other way and this is something that is actually a massive barrier to a lot of people because they just don't understand why they need to be thinking in a completely different way from their everyday experience so this is just one example and the reason why I mentioned is because we're working through this right now and the experience of 7-Eleven is that principle that we use you know kind of how do you design a experience to solve specific problem as opposed to how do I design an experience around the query which is basically what uh what happens right now with the typical ux of the swap yeah yeah I think it makes a lot of sense you know the average person here is very used to some of the about trading oriented kind of ux that might not be for the average person right Chris yeah one thing um so what's really interesting with what Oleg and sweatcoin and Hugo and playing were doing is that they are thinking about it very differently than what we've seen in this first generation of play to uh play to earn gaming and that's been very much focused on not an existing Community or user base and it's been building a game a defy defied version of a game for crypto enthusiasts that have been trading crypto probably for for many years and then that turned into the farming and the yield farming and everything else um whereas Oleg and Hugo are approaching it with their users and then millions and millions of users in mind and so it's a very different product thought process in in building it that way around versus building it um for them the crypto natives so it's really interesting to see a very different breed of uh um of of approach to web3 and gamification um which also is important to think about the value because um if you've just got a game which is just giving out tokens and there's no value creation then it's a short-term opportunity right um it's not sustainable uh where it's great to see what sweatcoin's doing in the jet but the value creation of that and with play Ember that is put forward front forward and Center in the business model yeah no absolutely so maybe I think on on that note um it would be amazing to get everyone's views here on you know you guys have been building for a long while there have been tons of consumer um Founders in the space who have been trying to think about you know what some of the best practices for customer Discovery specifically um given your backgrounds look to see if anyone has any tips or any Frameworks or any stories about how they've stumbled upon or kind of refined uh pain points in the customer Discovery process yeah for us where it started going really well for play Ember was actually when we I suppose stopped trying to shoehorn web3 into everything and just went back I think oh like said it earlier back to what the user wants um and we're lucky enough to have users so we could actually just test and iterate and so effectively see what works with data uh you know we run the whole raft of things and starting from qualitative Discovery where you go and you interview people and you ask them questions like you know for example when we started development of our web3 product the first thing we've done we've segmented our users and we went and we've spoken to every demographic because we were mildly concerned that you know for example one roughly one third of ours with coin users are women at you know 45 Plus and our concern was you know kind of do they care about crypto do they want to even kind of engage in it is there maybe a hangover from the Silk Road days where they think that this is something that is about drugs and there is some kind of negativity there so we eliminated this because through interviews we very quickly realized that everyone is very interested in the space they want to engage but they have these two barriers as I've described they couldn't deal with onboarding and they felt that it would be too expensive for them to engage because basically the way they were talking about it is I'm gonna have to pay hundreds and hundreds of dollars to educate myself and the probability of me losing this money is incredibly High because there is no day passes without the headline 600 million got drained from Ronan 300 million got drained from Wormhole and the way people perceive it is they're not reading Wormhole or Ronin they they think that if they put money into the space it will be them that will lose it so we eliminated that concern after that what we've done is we've done a proper kind of testing we've done 35 000 users we've put them to a partner's product that you know kind of was very interesting for them and we you know our only condition was they share aggregated data on this user's Behavior so that we could understand when users engage into web 3 when they get tokens what happens then how do they behave do they pull the card out or you know kind of do they just simply cash out and we learned that actually our users you know they tread very carefully but once they familiarize themselves they are becoming quite a significant trade it's not whales but they trade in hundreds of dollars which is you know for a lot of them probably is substantial amount of money not for people people probably sitting here but for them it is so we do this qualitative then we do proper kind of testing and then the last thing that we always do is a b testing because no matter how hard you work typically you end up having you know kind of uncertainties around the nuances of that product like how do you call the stuff do you call it nft or do you call it collectible and once you have users as Hugo does you can actually put a nft b Collectibles and you can compare and then you can go oh my God this is performing like 10x better so it's qualitative Discovery then it's sort of partnership and sort of digging in a very very cheap way doing MVP with a partner and the third one is a b gotcha amazing um Daryl I think you have a point yeah yeah um we've talked a lot about uh just creating product and the usability feasibility viability and value and we've talked a lot about the usability being difficult and then the value in that education layer but I think you brought up an interesting point which is also around trust especially in this space so we we need to make sure that we're communicating in a way that does make it easier for everyone and and we are not web 2 or web 3 individuals we're human beings and so when I put this in front of my mom it needs to be easier we found in our our like product discovery that is we were putting people through a checkout process if they had to create a wallet and go through all of the friction at the beginning it was very difficult to even make a sale but if my mom could get on and just check out with her credit card or you know Apple pay the normal way she's infinitely more likely to convert to blockchain after the fact when we've explained the value and so I think if we're thinking about this as human beings just having the user empathy it's what made Apple Apple and I think it's what web3 desperately needs because we come in and for a while I think we had this idea that the difficulty made it exclusive um and it probably led to a lot of bad uh choices in our ux um in general and I'll just lead on from that um I think web3 have been looking at the metrics wrong and looking at this tlv is everything that's been the the main Holy Grail of of whether a Project's successful or not um and it isn't applicable when you're building a mass-market um infrastructure and tools and something we really like about near is they have a different perspective and a different uh viewpoints on what should be the key metrics to look for in a successful infrastructure um and and that is more monthly active accounts active users and that's going to get the mass Market in on more excited and Brands coming into the space because they want to be able to engage and reach and and sell to these millions and millions of users who are using the network invisibly behind the scenes thank you so much I think that's about us for time but I really love that we were talking about you know abstraction of onboarding abstraction of ux and really sweating the small stuff uh when it comes to how we talk about gaming consumer and blockchain so thank you very much for the speakers here today if you have a round of applause for them thank you again thank you thank you and thank you for moderating","transcript_synced_at":"2026-11-04T03:52:53.308Z","segments":[{"start_seconds":0,"text":"hi everyone super excited to be here to talk about what we all get to do which is really bringing about the next","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=0s"},{"start_seconds":7,"text":"billion users uh into crypto so without further Ado it's an awesome privilege to have everyone here on this panel today","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=7s"},{"start_seconds":16,"text":"uh my name is chia from Patera Capital um helped to cover um all the kind of consumer infra","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=16s"},{"start_seconds":24,"text":"Investments at Pantera we've got an amazing selection of folks here today to talk about what they're building maybe starting from this order","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=24s"},{"start_seconds":33,"text":"can you please give us a quick introduction of yourself and brief few sentences of your background once you're","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=33s"},{"start_seconds":39,"text":"building and how you decided to land on this problem that you're solving today sure um my name is Oleg fomenko I'm","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=39s"},{"start_seconds":48,"text":"co-founder of sweat coin and now sweat economy I presented earlier we basically","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=48s"},{"start_seconds":55,"text":"started in 2014 thinking that we will be on blockchain but could only move in","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=55s"},{"start_seconds":62,"text":"2022 and we are making the world more physically active we allow you to earn","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=62s"},{"start_seconds":70,"text":"sweat simply by walking so the problem we solve is making World physically active and bringing tens of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=70s"},{"start_seconds":78,"text":"millions of users into web3 because we already have 15 million token holders and 5 million sweat wallet downloads on","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=78s"},{"start_seconds":85,"text":"near so you can we're really really excited to be part of this ecosystem hi everyone my name is Chris Gayle I'm","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=85s"},{"start_seconds":92,"text":"the co-founder of an nft Marketplace called fion far we've been building on there over the past 12 months and what we really see with our background we","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=92s"},{"start_seconds":101,"text":"work a lot with Fortune 500 companies in previous businesses and making nfts making web3 more accessible for the mass","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=101s"},{"start_seconds":110,"text":"markets is a key problem that we're solving and thanks to a lot of nears uh great technology and onboarding solutions we're able to do that very","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=110s"},{"start_seconds":117,"text":"very seamlessly and efficiently and then we also have an infrastructure side of our business which we're providing API","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=117s"},{"start_seconds":125,"text":"and entity tools for great projects to to build and scale nfts on on near","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=125s"},{"start_seconds":132,"text":"hi I'm Hugo I'm CEO of playamba so we're a mobile game studio with over a hundred","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=132s"},{"start_seconds":138,"text":"million downloads and about a year ago we started making the move to web3 and we've created some infrastructure so a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=138s"},{"start_seconds":147,"text":"Unity to near SDK you can basically plug it in with a few minutes and turn a web","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=147s"},{"start_seconds":153,"text":"2 game into a web 3 Lite experience and I'm Daryl Fannin CEO of Keno we are","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=153s"},{"start_seconds":160,"text":"a company that is decentralizing film and television and giving you access uh to behind the scenes and that you can be","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=160s"},{"start_seconds":168,"text":"a part of movies that you'll love I've created some TV shows with Matt Damon his arch nemesis Jimmy Kimmel uh and I'm","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=168s"},{"start_seconds":174,"text":"very fortunate uh to have access to some really incredible creators and we're going to be launching movies this year","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=174s"},{"start_seconds":182,"text":"awesome so I think I'm super excited because uh the speakers here today have a lot of experience bringing Just users","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=182s"},{"start_seconds":190,"text":"into web 2 space reaching the mainstream audience and so really excited to see what we can learn today so maybe we'll start off with","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=190s"},{"start_seconds":198,"text":"um Chris you know what are some of the problems that you see in the nft ecosystem at the moment and and how do","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=198s"},{"start_seconds":205,"text":"you think about how growth is gonna emerge over the next few months and years and decades sure yeah great question we've heard","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=205s"},{"start_seconds":213,"text":"this a lot today on a number of talks and panels that are just web3 is very very uh hard for for new users and the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=213s"},{"start_seconds":220,"text":"masses to get on board you've got the whole uh figuring out third-party wallet extension like a metamask how to then fund that metamask","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=220s"},{"start_seconds":228,"text":"um how to send crypto to bridge to change Chains It's very very complex and we often use an interesting analogy of then you know if your mom can do it if","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=228s"},{"start_seconds":237,"text":"your parents can't do it then you're not going to get the masses on and so we really believe that solving that and making a seamless onboarding and user","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=237s"},{"start_seconds":244,"text":"experience to come on board and then start trading digital Collectibles minting nfts is a really great way to","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=244s"},{"start_seconds":252,"text":"onboard the masses and that's the one big area on the UI ux the second is an interesting and very","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=252s"},{"start_seconds":259,"text":"new trend at the moment that we have a problem with in the nft market and that's royalties and it was a problem that started back in uh September time","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=259s"},{"start_seconds":267,"text":"which where we identified and started trying to solve which was the ability for nft marketplaces to control the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=267s"},{"start_seconds":274,"text":"business logic of these nft contracts so if we look at open C we look at Magic Eden when they design the marketplace","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=274s"},{"start_seconds":282,"text":"mechanism they kept the business logic in the marketplace which is very anti-web three ethos and so","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=282s"},{"start_seconds":290,"text":"the analogy is you're trusting a if you had a store and you had a cash register imagine trusting a stranger that you've","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=290s"},{"start_seconds":298,"text":"never met before to come in and then sell through your cash register um now what we're doing at few and far is looking to redesign","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=298s"},{"start_seconds":306,"text":"um so the business logic goes where it belongs which is in the smart contracts of the Creator where they have full control and ownership of that contract","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=306s"},{"start_seconds":313,"text":"without them having to worry about a third party Marketplace or or company coming in and not honoring the royalties","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=313s"},{"start_seconds":321,"text":"which they were expecting and the revenues that they were generating gotcha so I I think I really love you","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=321s"},{"start_seconds":329,"text":"know we're here to solve problems for creators you're building the infrastructure just to protect those rights and the economic you know","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=329s"},{"start_seconds":337,"text":"benefits that that will really hear the the to help create this with yeah so what we've seen in the generation one of nft has been a lot of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=337s"},{"start_seconds":346,"text":"pfp projects um very much Native within the the crypto Trader environment and world and they've been trading jpegs of monkeys","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=346s"},{"start_seconds":354,"text":"and everything's been great to demonstrate the technology um but it then doesn't scale to the millions and millions of users um that","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=354s"},{"start_seconds":361,"text":"we want to get on board and that's where we're seeing um Fortune 500 Brands and companies that are looking to in build and market and","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=361s"},{"start_seconds":370,"text":"engage with with huge communities plus also generate from secondary revenues that they can sell through trading digital Collectibles and it becomes a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=370s"},{"start_seconds":378,"text":"revenue stream and that is the business logic that's going to determine Fortune 500 Brands like Disney like Starbucks to","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=378s"},{"start_seconds":386,"text":"then want to enter the web 3 space um and the two questions they're going to ask is um is it easy for my millions of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=386s"},{"start_seconds":394,"text":"customers and users to adopt or is it going to be a nightmare to try and onboard these users and promote this campaign and second of all what's in it","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=394s"},{"start_seconds":401,"text":"for us as a publicly traded company and how much revenues are we going to make from this and so redesigning the the problem we need to","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=401s"},{"start_seconds":409,"text":"solve those two issues before we can really scale this as a as an industry gotcha it's super interesting so maybe","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=409s"},{"start_seconds":417,"text":"talking a little bit about um media powerhouses I think Daryl you've had a lot of experiences uh I'm","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=417s"},{"start_seconds":424,"text":"sure some in the audience have even seen a lot of the work that you've helped to produce and create and so um can you tell us a little bit about","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=424s"},{"start_seconds":432,"text":"how you see you know culture and money coming together to bring about the next billion users","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=432s"},{"start_seconds":438,"text":"how is what you're building speaking to the average person on the street that's a great question so the biggest thing to me is right now there's a lot","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=438s"},{"start_seconds":447,"text":"of Gatekeepers and barriers to the people who are making the greatest entertainment of Our Generation like for 30 000 years we've used stories to","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=447s"},{"start_seconds":455,"text":"convey the most important elements of humanity and the way that we tell stories today one of the most visual mediums is in film and television and so","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=455s"},{"start_seconds":463,"text":"for me the idea that we can create communities who can connect directly with those creators and participate in the creative process that's a really","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=463s"},{"start_seconds":471,"text":"exciting thing and so um you know I think a lot of the problems that we have Chris spoke to this is the usability of blockchain there's such a fall off right","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=471s"},{"start_seconds":479,"text":"now and but if we bring people in and we explain to them the value that they get from the blockchain if they can understand that they can participate in","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=479s"},{"start_seconds":487,"text":"something that they already care about then we're going to help onboard millions of people in a much more efficient and natural way so by creating","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=487s"},{"start_seconds":494,"text":"an opportunity for you to engage with the creator of your favorite TV show or of a movie you can literally buy a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=494s"},{"start_seconds":502,"text":"behind the scenes pass where you can do q and A's with the cast and crew you can you can get updates from set you can participate in the creative process of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=502s"},{"start_seconds":510,"text":"these things that allows you to engage in a completely new way that is very much you know centered around the web3 ethos and we see so many of these","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=510s"},{"start_seconds":519,"text":"creators who don't necessarily participate in the royalties uh even of the shows that are created sometimes you can create a billion dollar franchise","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=519s"},{"start_seconds":527,"text":"and make a few hundred thousand dollars but if we bring in the fans we can say hey you know what you can connect directly with this Creator and then you","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=527s"},{"start_seconds":534,"text":"can share in that value system back and forth so to me the average person if we can figure out a way to bring them into something that they already want to do","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=534s"},{"start_seconds":542,"text":"in something that they want to engage with whether that's film and television whether that's you know a physical collectible with an on-chain proof of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=542s"},{"start_seconds":551,"text":"authenticity or through ticketing there's a lot of values that we can bring in and we can bring them in in a way that's very natural as opposed to","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=551s"},{"start_seconds":558,"text":"you know the friction process of like creating a metamask wallet and figuring out how to put money into it gotcha okay so I'm Joe on the street","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=558s"},{"start_seconds":567,"text":"um I just logged on to The Kino website for the first time can you talked me through some of the projects that you're working on like what am I going to get","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=567s"},{"start_seconds":574,"text":"excited about yeah so we're going to do an official announcement of our uh our movies in a couple of months so we haven't actually launched any of our","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=574s"},{"start_seconds":582,"text":"films yet uh but we have spent the last year uh really building in Partnerships with some of the most amazing creators and I've been very fortunate uh with my","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=582s"},{"start_seconds":590,"text":"community um in film and television to be mentored by some fantastic individuals and so what we did is I went and found creators","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=590s"},{"start_seconds":597,"text":"who had created hundreds of millions and billions of dollars collectively for these other Industries and they they go to one of the big six and I said hey I'd","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=597s"},{"start_seconds":606,"text":"love to help you Market your film uh from the very beginning I'd love to bring you like fans in from the beginning and uh so we have a lineup of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=606s"},{"start_seconds":614,"text":"10 films that we're going to launch uh starting uh in a couple of months actually gotcha uh super excited for that looking forward to that","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=614s"},{"start_seconds":622,"text":"um cool so one of the favorite things uh I like to talk about video games I'm addicted to it spend way too much money on it so","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=622s"},{"start_seconds":631,"text":"Hugo you are the reason why my girlfriend has problems with me can you help me understand you know some of the problems that you're helping to solve","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=631s"},{"start_seconds":638,"text":"for players and a huge Mobile gaming ecosystem at the moment sure sure so I think at the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=638s"},{"start_seconds":646,"text":"at the moment there are two big problems with the mobile gaming ecosystem one is for the mobile game studios and then one","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=646s"},{"start_seconds":654,"text":"is for the players for the mobile game uh Studios it's actually a web 2 problem and a web","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=654s"},{"start_seconds":662,"text":"3 problem it's super super hard at the moment to build a profitable mobile game and I think that's due to the market","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=662s"},{"start_seconds":669,"text":"advertisers don't want to advertise as much but actually I think that's a huge opportunity just in general for web 3","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=669s"},{"start_seconds":677,"text":"and web3 product and I think that's that's where we will really onboard a lot of people when we","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=677s"},{"start_seconds":685,"text":"can create a web 3 product which is better than the web 2 incumbent because I think what we're doing we're we're not","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=685s"},{"start_seconds":693,"text":"competing with other web 3 products we're competing with the web 2 ones with great ux great UI so I think that's a a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=693s"},{"start_seconds":701,"text":"basically a great opportunity at the moment to um to kind of seamlessly onboard people","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=701s"},{"start_seconds":708,"text":"and onboard mobile game studios so with our Unity SDK we can kind of onboard these mobile game studios really really","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=708s"},{"start_seconds":716,"text":"quickly within a few minutes and give these mobile game studios another line of monetization","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=716s"},{"start_seconds":723,"text":"and then on the other side so the players and I think this is a problem that players aren't overly aware of or aware","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=723s"},{"start_seconds":732,"text":"that it can be different currently they're being monetized super super aggressively um and it's kind of a Walled Garden at","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=732s"},{"start_seconds":740,"text":"the moment the web 2 mobile game ecosystem so you've got Apple and Google and you've got all of these ad providers","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=740s"},{"start_seconds":746,"text":"that aggressively monetize and the users the players never get anything back for it","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=746s"},{"start_seconds":754,"text":"um but we've found that actually if you do give something back or you can say right continue to play our game for a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=754s"},{"start_seconds":761,"text":"bit longer and you'll get an nft or they're actually using the word nft kind of meant the conversions went down massively so you call it Collectibles","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=761s"},{"start_seconds":769,"text":"and avatars um that actually made people stick around for way longer and actually consume more ads have a higher long-term","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=769s"},{"start_seconds":779,"text":"value LTV and the retention stats for kind of day seven went up 100 so these are all","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=779s"},{"start_seconds":786,"text":"really great kind of in-game stats that went up because the player was more","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=786s"},{"start_seconds":793,"text":"rewarded and more happy and just things like ratings go up um so yeah I think we need to speak in","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=793s"},{"start_seconds":800,"text":"the in the language of the mass market and make product that is better than the web to incumbents","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=800s"},{"start_seconds":807,"text":"gotcha so I I really like that framing that you said right like we're not trying to create um the best web tree experience we're","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=807s"},{"start_seconds":816,"text":"not competing with other web free players we're just creating a better experience full stop and that experience is going to bring everyone on board if","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=816s"},{"start_seconds":822,"text":"it's objectively you know the thing that users want and maybe I'd love to dig into that a little bit more uh you","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=822s"},{"start_seconds":830,"text":"talked about you know framing as Collectibles uh as rewards can you talk me through how some of those uh rewards","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=830s"},{"start_seconds":837,"text":"and uh kind of collectible Dynamics have emerged in some of the games that you've been helping develop how users have been","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=837s"},{"start_seconds":845,"text":"particularly receptive to certain things yep yeah so one thing that's worked really well is fractionalized prizes or","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=845s"},{"start_seconds":852,"text":"fractionalized nfts so say you're in one of our games rough life and you get the bottom half of uh it's the example","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=852s"},{"start_seconds":861,"text":"everyone uses a sword so the bottom half of a sword um and then we say okay you need to play our other game and search around for the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=861s"},{"start_seconds":869,"text":"top half of the sword when you get both then you can merge them together and that's your your new nft your new collectible and you can use that and","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=869s"},{"start_seconds":879,"text":"hopefully in time we want that to be a real social element so I've got the bottom half you've got the top half I'll give you","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=879s"},{"start_seconds":886,"text":"300 coins for it and we kind of swap like that gotcha I think we're joking uh backstage that that sounded a little bit like the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=886s"},{"start_seconds":894,"text":"McDonald's Monopoly game um that I never won I don't think anyone ever does or maybe I just didn't have enough","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=894s"},{"start_seconds":903,"text":"friends um so um okay great so oh oh look um you know I think what you've done with set quiet","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=903s"},{"start_seconds":911,"text":"has been you know truly remarkable um hundreds of millions of of users really on board and using the product","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=911s"},{"start_seconds":918,"text":"especially given the background you know you guys were building in the web 2 space and transition over the web tree so as you as you made that transition I","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=918s"},{"start_seconds":927,"text":"think you have a really unique perspective about what works to onboard people from web to the web tree could you maybe talk through some of the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=927s"},{"start_seconds":935,"text":"lessons that you might have observed that might be helpful for some of the builders Founders uh even investors in the room","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=935s"},{"start_seconds":942,"text":"sure it would be pleasure um very good question because we've as I mentioned in my presentation we've been","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=942s"},{"start_seconds":950,"text":"looking at blockchain from 2014 but actually when we started the migration","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=950s"},{"start_seconds":956,"text":"and we started putting specifics into the launch we realized how sort of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=956s"},{"start_seconds":964,"text":"complicated and how diverse the opinions were what was the role of web3 and how we should be playing on it so the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=964s"},{"start_seconds":971,"text":"framework that we ultimately developed was you really need to think about your use case not from technology perspective but","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=971s"},{"start_seconds":980,"text":"from the user perspective and very frequently we don't talk about it because we as a business you normally","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=980s"},{"start_seconds":987,"text":"have a use case but if you kind of lift yourself off and just hearing this gentleman speak you know can you need to think about Mass Market need and the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=987s"},{"start_seconds":996,"text":"problem that you are solving and once you have definition of that problem and","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=996s"},{"start_seconds":1002,"text":"there is an ownership element in it then you actually have a very very good and interesting use case that you can take","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1002s"},{"start_seconds":1011,"text":"into web3 in our case it was we are ready for seven years we're paying people for their movement with sweat","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1011s"},{"start_seconds":1020,"text":"coins that were centralized they existed in our blockchain called postgres SQL database they could only be used inside","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1020s"},{"start_seconds":1027,"text":"our app so with a terribly sub-optimal and we wanted to pay users with real blockchain you know can based currency","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1027s"},{"start_seconds":1036,"text":"and users really gagged for it they wanted it they demanded it and we now know that it is a humongous benefit for","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1036s"},{"start_seconds":1045,"text":"us and for them when we were able to start delivering it so first use case","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1045s"},{"start_seconds":1051,"text":"second thing is and gentlemen here have already referred to it all of them is UI","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1051s"},{"start_seconds":1058,"text":"ux it it is not good enough to put a 24 word seed phrase massive red banner on","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1058s"},{"start_seconds":1067,"text":"top of it if you lose this you screwed and then not even add a copy uh button underneath it because for the next","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1067s"},{"start_seconds":1076,"text":"hundreds of millions of users this is not the experience that they will cope with and a lot of them are burned like a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1076s"},{"start_seconds":1083,"text":"lot of our users they already had experience we had interviews experience of starting wallets and just simply","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1083s"},{"start_seconds":1091,"text":"couldn't go through the onboarding process they just bulked and they said this is too complicated this is too scary the words were not understandable","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1091s"},{"start_seconds":1099,"text":"so I just can't engage with this so you need to think about it from first principles how would I build this for my","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1099s"},{"start_seconds":1107,"text":"mom for my grandma and once they understand then you're on to something and the third thing and I think that","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1107s"},{"start_seconds":1115,"text":"this is probably the most controversial is if we are thinking about bringing the next billion people we need to make make","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1115s"},{"start_seconds":1123,"text":"sure that the entry is either free or extremely extremely extremely low value","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1123s"},{"start_seconds":1131,"text":"required from them because there are no whales left who are not engaged the average person in all around the world","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1131s"},{"start_seconds":1140,"text":"is not going to have more than 10 to 20 bucks to their soul at any moment of time Eight dollar transaction on","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1140s"},{"start_seconds":1147,"text":"ethereum is probably gonna wipe you know kind of the the balance of any person that is out there waiting to jump into","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1147s"},{"start_seconds":1154,"text":"web3 so we really need to think hard how to remove these barriers how to make ux","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1154s"},{"start_seconds":1161,"text":"great how to make it free for them educate them and then they will engage and they'll add value","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1161s"},{"start_seconds":1177,"text":"thank you so much for that I think we got pretty good uh reception to to that view uh I actually love to dig a little","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1177s"},{"start_seconds":1185,"text":"bit deep into what you just said I know you mentioned a couple of very specific examples but have there been other examples maybe on the kind of ux or","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1185s"},{"start_seconds":1193,"text":"feature set where once you launched it for you it immediately became clear that this made a ton of sense or it became","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1193s"},{"start_seconds":1201,"text":"clear that this did not make a ton of sense and you know you you move it away from that hmm","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1201s"},{"start_seconds":1208,"text":"oh you know what I'm going to talk to a my biggest bug bear uh right now like you know the thing that we're solving","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1208s"},{"start_seconds":1215,"text":"it's a swap experience um because Swope experience special indexes is you choose the asset that you","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1215s"},{"start_seconds":1223,"text":"have and then you choose the asset that you want to get in return it is insane user experience I mean","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1223s"},{"start_seconds":1231,"text":"honestly this is like going to 7-Eleven and declaring at the entrance I've got 56 bucks and 97 cents what can I get for","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1231s"},{"start_seconds":1238,"text":"it nobody shops like this I mean humans really do not spend money in this way ever with exception of the swap","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1238s"},{"start_seconds":1246,"text":"functionality how the hell did we end up in this situation right when you walk into 7-Eleven you think two milks one","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1246s"},{"start_seconds":1254,"text":"you know bread and I don't know whatever crate of beer so the swap exchange and","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1254s"},{"start_seconds":1262,"text":"the trading should be exactly like that you need to choose what you want you need to choose the amount that you want and then you choose how","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1262s"},{"start_seconds":1270,"text":"you're going to pay for it and not in any other way and this is something that is actually a massive","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1270s"},{"start_seconds":1278,"text":"barrier to a lot of people because they just don't understand why they need to be thinking in a completely different way from their everyday experience so","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1278s"},{"start_seconds":1286,"text":"this is just one example and the reason why I mentioned is because we're working through this right now and the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1286s"},{"start_seconds":1294,"text":"experience of 7-Eleven is that principle that we use you know kind of how do you design a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1294s"},{"start_seconds":1301,"text":"experience to solve specific problem as opposed to how do I design an experience around the query which is basically what","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1301s"},{"start_seconds":1310,"text":"uh what happens right now with the typical ux of the swap yeah yeah I think it makes a lot of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1310s"},{"start_seconds":1317,"text":"sense you know the average person here is very used to some of the about trading oriented kind of ux that might","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1317s"},{"start_seconds":1325,"text":"not be for the average person right Chris yeah one thing um so what's really interesting with what Oleg and sweatcoin and Hugo and playing were doing is that","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1325s"},{"start_seconds":1333,"text":"they are thinking about it very differently than what we've seen in this first generation of play to uh play to earn gaming and that's been very much","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1333s"},{"start_seconds":1340,"text":"focused on not an existing Community or user base and it's been building a game a defy defied version of a game for","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1340s"},{"start_seconds":1348,"text":"crypto enthusiasts that have been trading crypto probably for for many years and then that turned into the farming and the yield farming and everything else","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1348s"},{"start_seconds":1357,"text":"um whereas Oleg and Hugo are approaching it with their users and then millions and millions of users in mind and so it's a very different product thought","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1357s"},{"start_seconds":1365,"text":"process in in building it that way around versus building it um for them the crypto natives so it's really interesting to see a very different","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1365s"},{"start_seconds":1372,"text":"breed of uh um of of approach to web3 and gamification um which also is important to think","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1372s"},{"start_seconds":1381,"text":"about the value because um if you've just got a game which is just giving out tokens and there's no value creation then it's a short-term","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1381s"},{"start_seconds":1389,"text":"opportunity right um it's not sustainable uh where it's great to see what sweatcoin's doing in the jet but the value creation of that and with play","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1389s"},{"start_seconds":1397,"text":"Ember that is put forward front forward and Center in the business model yeah no absolutely so maybe I think on","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1397s"},{"start_seconds":1405,"text":"on that note um it would be amazing to get everyone's views here on you know you guys have been building for a long while there","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1405s"},{"start_seconds":1413,"text":"have been tons of consumer um Founders in the space who have been trying to think about you know what some of the best practices for customer","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1413s"},{"start_seconds":1421,"text":"Discovery specifically um given your backgrounds look to see if anyone has any tips or any Frameworks or any stories about how they've stumbled","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1421s"},{"start_seconds":1430,"text":"upon or kind of refined uh pain points in the customer Discovery process","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1430s"},{"start_seconds":1437,"text":"yeah for us where it started going really well for play Ember was actually when we I suppose stopped trying to shoehorn","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1437s"},{"start_seconds":1447,"text":"web3 into everything and just went back I think oh like said it earlier back to what the user wants","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1447s"},{"start_seconds":1454,"text":"um and we're lucky enough to have users so we could actually just test and iterate and so effectively see what","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1454s"},{"start_seconds":1461,"text":"works with data uh you know we run the whole raft of things and starting from qualitative","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1461s"},{"start_seconds":1470,"text":"Discovery where you go and you interview people and you ask them questions like you know for example when we started","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1470s"},{"start_seconds":1477,"text":"development of our web3 product the first thing we've done we've segmented our users and we went and we've spoken","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1477s"},{"start_seconds":1485,"text":"to every demographic because we were mildly concerned that you know for example one roughly one third of ours with coin","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1485s"},{"start_seconds":1494,"text":"users are women at you know 45 Plus and our concern was you know kind of do","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1494s"},{"start_seconds":1501,"text":"they care about crypto do they want to even kind of engage in it is there maybe a hangover from the Silk Road days where","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1501s"},{"start_seconds":1509,"text":"they think that this is something that is about drugs and there is some kind of negativity there so we eliminated this","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1509s"},{"start_seconds":1517,"text":"because through interviews we very quickly realized that everyone is very interested in the space they want to engage but they have these two barriers","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1517s"},{"start_seconds":1526,"text":"as I've described they couldn't deal with onboarding and they felt that it would be too expensive for them to","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1526s"},{"start_seconds":1534,"text":"engage because basically the way they were talking about it is I'm gonna have to pay hundreds and hundreds of dollars to educate myself and the probability of","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1534s"},{"start_seconds":1543,"text":"me losing this money is incredibly High because there is no day passes without the headline 600 million got drained from Ronan 300 million got drained from","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1543s"},{"start_seconds":1552,"text":"Wormhole and the way people perceive it is they're not reading Wormhole or Ronin they they think that if they put money","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1552s"},{"start_seconds":1560,"text":"into the space it will be them that will lose it so we eliminated that concern after that what we've done is we've done","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1560s"},{"start_seconds":1568,"text":"a proper kind of testing we've done 35 000 users we've put them to a partner's","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1568s"},{"start_seconds":1575,"text":"product that you know kind of was very interesting for them and we you know our only condition was they share aggregated","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1575s"},{"start_seconds":1584,"text":"data on this user's Behavior so that we could understand when users engage into web 3 when they get tokens what happens","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1584s"},{"start_seconds":1591,"text":"then how do they behave do they pull the card out or you know kind of do they just simply cash out and we learned that","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1591s"},{"start_seconds":1599,"text":"actually our users you know they tread very carefully but once they familiarize themselves they are becoming quite a","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1599s"},{"start_seconds":1608,"text":"significant trade it's not whales but they trade in hundreds of dollars which is you know for a lot of them probably","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1608s"},{"start_seconds":1615,"text":"is substantial amount of money not for people people probably sitting here but for them it is so we do this qualitative","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1615s"},{"start_seconds":1623,"text":"then we do proper kind of testing and then the last thing that we always do is a b testing because no matter how hard you work","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1623s"},{"start_seconds":1631,"text":"typically you end up having you know kind of uncertainties around the nuances of that product like how do you call the stuff","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1631s"},{"start_seconds":1639,"text":"do you call it nft or do you call it collectible and once you have users as Hugo does you can actually put a nft b","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1639s"},{"start_seconds":1647,"text":"Collectibles and you can compare and then you can go oh my God this is performing like 10x better so","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1647s"},{"start_seconds":1655,"text":"it's qualitative Discovery then it's sort of partnership and sort of digging in a very very cheap way doing MVP with","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1655s"},{"start_seconds":1664,"text":"a partner and the third one is a b gotcha amazing um Daryl I think you have a point yeah","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1664s"},{"start_seconds":1670,"text":"yeah um we've talked a lot about uh just creating product and the usability feasibility viability and value and we've talked a lot about the usability","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1670s"},{"start_seconds":1679,"text":"being difficult and then the value in that education layer but I think you brought up an interesting point which is also around trust especially in this","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1679s"},{"start_seconds":1687,"text":"space so we we need to make sure that we're communicating in a way that does make it easier for everyone and and we","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1687s"},{"start_seconds":1694,"text":"are not web 2 or web 3 individuals we're human beings and so when I put this in front of my mom it needs to be easier we","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1694s"},{"start_seconds":1701,"text":"found in our our like product discovery that is we were putting people through a checkout process if they had to create a wallet and go through all of the friction at the beginning it was very","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1701s"},{"start_seconds":1709,"text":"difficult to even make a sale but if my mom could get on and just check out with her credit card or you know Apple pay the normal way she's infinitely more","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1709s"},{"start_seconds":1717,"text":"likely to convert to blockchain after the fact when we've explained the value and so I think if we're thinking about this as human beings just having the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1717s"},{"start_seconds":1726,"text":"user empathy it's what made Apple Apple and I think it's what web3 desperately needs because we come in and for a while","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1726s"},{"start_seconds":1733,"text":"I think we had this idea that the difficulty made it exclusive um and it probably led to a lot of bad","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1733s"},{"start_seconds":1740,"text":"uh choices in our ux um in general and I'll just lead on from that um I think web3 have been looking at the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1740s"},{"start_seconds":1748,"text":"metrics wrong and looking at this tlv is everything that's been the the main Holy Grail of of whether a Project's successful or not","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1748s"},{"start_seconds":1756,"text":"um and it isn't applicable when you're building a mass-market um infrastructure and tools and something we really like","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1756s"},{"start_seconds":1763,"text":"about near is they have a different perspective and a different uh viewpoints on what should be the key metrics to look for in a successful infrastructure","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1763s"},{"start_seconds":1772,"text":"um and and that is more monthly active accounts active users and that's going to get the mass Market in on more","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1772s"},{"start_seconds":1779,"text":"excited and Brands coming into the space because they want to be able to engage and reach and and sell to these millions and millions of users who are using the","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1779s"},{"start_seconds":1786,"text":"network invisibly behind the scenes thank you so much I think that's about us for time but I really love that we were talking about you know abstraction","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1786s"},{"start_seconds":1795,"text":"of onboarding abstraction of ux and really sweating the small stuff uh when it comes to how we talk about","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1795s"},{"start_seconds":1803,"text":"gaming consumer and blockchain so thank you very much for the speakers here today if you have a round of applause","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1803s"},{"start_seconds":1810,"text":"for them thank you again thank you thank you and thank you for moderating","url":"https://www.youtube.com/watch?v=GC_cAKqytgY&t=1810s"}],"youtube_url":"https://youtube.com/watch?v=GC_cAKqytgY","url":"https://near-pedia.xyz/videos/GC_cAKqytgY"}