This space is hosted by _WEB3M_
Space Summary
The Twitter Space delved into the realms of Web3, crypto, and DPN, discussing their states and potential. Industry experts highlighted the impact on data and attention monetization, exceeding user expectations, and shifting data ownership perspectives. AI’s role in enhancing functionality was acknowledged, with an emphasis on community involvement for harnessing advancements. The expanding market for Web3 applications shows a balance between skepticism and transformative promise. The space underscored ongoing evolution, calling for staying informed and engaged in this dynamic field.
Questions
Q: What phase is the adoption of DPN currently at?
A: Adoption of DPN is in its discovery phase, with significant potential for future industries.
Q: How do people initially react to new technologies like Web3?
A: Skepticism and initial resistance are common as people adjust to new technological paradigms.
Q: What makes successful technologies stand out?
A: Technologies that exceed user expectations and offer more than anticipated tend to be the most successful.
Q: Why is data and attention monetization important?
A: It offers new ways for individuals to earn from previously untapped resources, redefining the value of personal data.
Q: What role does AI play in these new ecosystems?
A: AI enhances functionality and user experience, making the integration of Web3 and crypto technologies smoother.
Q: What is necessary for fully benefiting from Web3 and crypto advancements?
A: Community involvement and staying informed about the latest developments and applications are crucial.
Q: How is the market for Web3 applications evolving?
A: The market is expanding rapidly, driven by innovation from builders and developers in the space.
Q: What perspective shift is required for engaging with Web3 technologies?
A: Users need to rethink ownership and usage of personal data and attention in the context of these emerging technologies.
Q: How do industry experts view the current state of Web3 technologies?
A: Experts are focused on exploring the limits and potential applications, aware of both current opportunities and challenges.
Q: What impact does the rapid evolution of crypto and Web3 have?
A: It reshapes perceptions of data management, creates new monetization opportunities, and heralds a shift in traditional paradigms.
Highlights
Time: 00:05:10
Introduction to DPN and its current phase
Time: 00:10:21
Initial skepticism towards new technologies
Time: 00:15:30
Importance of exceeding user expectations in tech
Time: 00:21:11
Monetizing data and attention
Time: 00:25:45
Role of AI in enhancing Web3 ecosystems
Time: 00:30:22
Community involvement as a key to benefiting from Web3 advancements
Time: 00:35:30
Rapid expansion of the Web3 applications market
Time: 00:40:50
Shifting perspectives on data ownership and usage
Time: 00:45:15
Experts exploring potential applications of Web3
Time: 00:50:00
Impact of crypto and Web3 on data management and monetization
Key Takeaways
- Web3 and crypto technologies are rapidly reshaping data and attention management.
- Data and attention monetization present new earning opportunities for users.
- Adoption of DPN is in early stages with massive potential for future industries.
- Initial skepticism is common with new technologies
- but success often surpasses expectations.
- Engagement with emerging tech requires rethinking personal data ownership.
- AI integration enhances functionality and user experience in these ecosystems.
- Experts are continuously pushing the limits and exploring applications of these technologies.
- Community participation and staying informed are key to benefit from Web3 and crypto developments.
- The market for Web3 applications is rapidly growing
- fueled by innovation from builders and developers.
- Rapid evolution in crypto and Web3 leads to new monetization opportunities and shifts in traditional paradigms.
Behind the Mic
Yeah, you do raise a lot of questions. So, how does one capitalize on this innovation to get involved? You know, if somebody’s like, well, it sounds cool, but I really want to be a part of this kind of environment, what would be the easiest way or what’s the best way to actually like being a part of this? Because it sounds really easy and quick to be a part of. Yeah. And it is free to play. And thank you for bringing that up. I was like, oh, I should have mentioned the website. It’s Coinapp co. And it’s free to play. It’s free to download. We do have subscriptions to get greater rewards. But, like, definitely check it out if you like that kind of game, if you’re looking for a side hustle. Coinapp Co. Nice. Nice. Definitely going to check that out. Thanks, Marion, for bringing that up. I definitely need to do more research on that. And the way that you kind of explain that really makes it feel like it’s like instead of paying for something to benefit from it, you’re actually using it, just using it to benefit from it. And it’s like, almost like debt to, you know, I don’t know. I’m not sure really where I was going with that. But it’s very important to understand that the difference between paying for a service and benefiting bidding, benefiting from it and then also. And then just using the service to benefit from it’s just simple. Right? So that kind of plugs into, like, the fair pricing, because we’ve always seen, like, you know, large company, you know, large conglomerates kind of controlling the pricing, you know, whether it be housing or products or any service, you know, we don’t really have a say in the prices of what, of the products and service we’re purchasing, you know, whether it be domestic or worldwide. The, these prices are controlled by the people wanting to profit from it in any industry. And so how does deepen, kind of shift that way into the community, kind of dictating the price and making the pricing more fair for everyone to use? Yes, saf, go ahead, miss. I would say that since deep end pricing models are based on operational expenses that are incurred by individual providers within the network, so therefore it eliminates any unnecessary markups. And so we have, say, better prices and it reflects actual water, actual cost of providing that service. And so community members really can, can cooperate to compete in a way that’s beneficial to all. I think that’s the ultimate gift of DePIN, the ability to sort of align incentives so that everybody that’s willing to produce valuable outputs can do so and earn for that work. Another piece of this is if we’re widely accessing different types of data on a large Frontier, you should definitely incentivize the people who are going to be providing it and creating even more access to data that was previously hard to access is just super important. And I, I, we get good feedback all the time about our team and saying, Oh, you guys are just the best. And it’s because we create the feedback loop. And that’s very different from previous incumbent providers who were just like, pay me my subscription and leave me alone. We’re constantly adding features. We’re constantly adding new ways of earning. We’re creating incentives for the people who power our network. I mean, we’re even bringing in what used to be cell tower technology or GPS technology. and we’re putting those in areas that previously had no coverage to open up entire countries to geospatial rewards and geospatial advertising and the ability to earn for being able to verify data. It’s just, it’s super fascinating to be a part of because people are hurting in this economic environment. If we could cover their cell phone bill and change the marginal cost structure of what already makes their sort of balance sheet hum, I think it’s just a giant opportunity. This is another cool thing to add in on top of that op-ex standpoint is, what do we know about cost? Cost is always going to be the critical factor for increasing adoption. But see, even though that which is super important, cost can’t be the biggest thing. I know you can’t be the biggest determinant whether something works or not, you know what I mean? I completely agree. Yep, of course. When you’re talking about the development, I know when we were discussing earlier, you were speaking to, what is actually happening in the DePIN space and how important that is for everyone to understand now so they get, because this is going to be the future. This is going a really exciting new technology that people are going to want to actually be able to understand. it’s difficult to wrap your head around at first for a lot of people because of the technological leap and the change that this represents to the way that we’re used to doing things on a day to day basis. A significant amount of people in our XYO community probably haven’t even heard of DePIN yet. They don’t even know what it means. Absolutely, yeah. So based off of what you’re, you guys are kind of putting together here and the way that I’ve seen DePin kind of interact and grow over time, what’s the best way just to get started? You know, like you’ve mentioned the website, some apps you guys are putting together, but like say tomorrow I want to jump into DePIN, like what is the easiest way for me to get involved? And the reason I say that is because you’ve got a lot of competitors out there and I think what’s really cool about you explaining it the way you just did is that you’re not just putting it out there saying, hey, this is DePIN, come check it out, you’re actually showing me this is DePIN, this is how you get involved and this is how you will benefit from it. And I think that’s really cool about how you said that, you know what I mean? Yeah, definitely. I think, you know, we’re kind of scratching the surface if you will. So we do have a new player journey, new user journey going on right now that we are currently socializing within our Discord community, but also with our community, on-tick space. And what we’re trying to do is to create a pre product market fit. We want to create that pre product market fit so that when we do hit critical mass, we hit critical masses pretty quick. We want to be able to really show the scores and kind of show the community here are the results of the product market fit testing and here, and these are hypotheses. So in a nutshell, we’re going to try it out. And if people like it in their area, they’re going to say, cool, we can expand this even more. From what I’m seeing is like, as people opt into this, as people, as this grows, as people become more interested in the entire deep end environment, you know, metaverse itself, I see that as more individuals and mass adoption starts to happen, that’s going to be more of a trend. More people are going to start kind of talking about it, kind of joining in more and more. And that’s really exciting for individuals who are part of the early phase, like your user base current. Absolutely. And, you know, I think, you know, the goal for us is to really see just really robust and interactive, dynamic thing going on within our Discord community as well. And we’re doing everything we can to both lead from a communication style and teaching everybody and, and creating new player journeys and ensuring that our journey documentation implementation is sound and it’s effective in helping onboard more and more people in a scalable fashion. Speaking of like the onboarding process, for those individuals who have never been a part of a network of this caliber, or are really, you know, having it familiar with Discord or the apps you’re developing, what would you say to those individuals right now to really give them that sense of encouragement to actually join your community and be a part of it? Because a lot of times the technological side of things really kind of shies people away. And I think because you guys are so accessible to me, that would be a huge encouragement for somebody to want to join. How would you kind of explain that to somebody who’s feeling a little on the fence? Yeah. And that’s a great point. It’s all about creating that sense of trust, you know, and I think you had mentioned before about how, when people look at cryptocurrencies or Web three applications in general, they’re like, well, like, how do I start this? And is it like a permanent thing, you know, it’s a journey. It’s, it’s an opt-in. It’s okay to do this once or twice. And like, I learned how to use MetaMask and I won’t ever do that again kind of a thing. Versus like driving a car or something like that. So it’s, it’s a tool just like anything else, really, I would break it down and say, how does anything else work? You know, you just join a network and do one action. And if you’re curious, you maybe do one other action. And so our goal here for us is, you know, again, speaking to that user journey is how can we create little bits of education, little snapshots of documentation, little snippets of how we can help you in this specific area? Here’s a tool for you, trying to get our stakeholders on board and really building the product helps us all ensure that we’re answering the questions in the appropriate way too. One thing I would also say is that when you’re trying to explain to individuals when it comes to technological capabilities, sometimes simplifying things and breaking things down as much as possible really helps with that communication. I think simplifying the terms, simplifying what this allows them to actually accomplish really helps with that onboarding process. Oh yeah, that’s that’s a good point. It’s breaking down the potential anxiety. What I think also goes into that communications as part of a process is how do we build trust? And so that trust is in through putting little things out there, little calls to action, showing how things work and deep end, showing how things work is all part of that cycle. That’s kind of aligned with the greater goal of building trust and ensuring everybody knows what’s going on, which is super important, you know, at the front end of adoption. So, but thank you for asking and you know, contributing to the conversation there, it’s really great. Hope to hear more of that. I definitely have one more question in relation to this is when it comes to how Web3 is developing and everything that’s kind of come up to this as a whole, what do you think is probably like the largest impact we’re going to see with Web three and deep end overall from both a financial structure and also an integratable structure throughout life and just, you know, and in your opinion, what do you think would be the difference between DePIN and Web3 as a whole? Yeah, that’s good. I think the first big impact of Web three in my view is going to be, it’s going to be a major change for users, and people are going to be a little skeptical at the beginning. We’re right now at the discovery phase of the word DPN and what it means and what can it do and all these different things. That’s how new we are with what’s going on. But in the future, you know, there’s going to be so many new industries that are going to be trying this out, and people are going to be skeptical. They’re going to be like, what is this? How can we possibly earn for just doing what we’ve always done before? And they’re going to think it’s too good to be true. But that’s where crypto and web three is, are really going to shift the way people think of their data, of their time, of their attention. There’s so many of those factors that go into monetizing all this. Yeah. And I think that’s, that’s a really good point. the best technologies give people more than what they think they can have. Right. people kind of get used to a certain level of service of the world around them. I think. I forget what his name was, but in the late 18 hundreds, there was a head of transportation who made this huge statement that was not widely accepted during the time. And we said, was directly related to the economy and the economy how it’s being distributed globally. Before the industrial revolution all economies were local and therefore had to scale globally. So we’re seeing a shift of scale because we’re giving these technologies that had to kind of be controlled, you know by a few entities are now being given to individuals to scale. Thinking now in this digital transformation is how do we accept this change to take resources that were only available to specific organizations and open up the world in a way that’s equitable is interesting. Before we wrap this up, I’d like to clarify again, Marion, please tell people essentially where they can find out more about this, where the apps are and anything else you want to relay about the DePIN space before we end up closing this out. This was a wonderful conversation and I appreciated all the insights you provided today. Yes, for sure, thank you so much for having me here. You can find coin at xyo network coin. And you can also find it at coin app.co. It’s free to sign up and it’s free to play. If you want to earn a little bit more, you could sign up for a subscription tier, and that would help kind of reward participating members. But definitely just check it out and provide your feedback in our discord community, we love hearing feedback. Awesome, thank you so much. And I’m definitely going to be looking more into this coin app as it definitely sounds more than just a little bit of side hustle income, it’s almost like you’re benefiting the entire decentralized ecosystem of just data encryption information and ensuring accurate data, which I think it’s just fascinating that we can even participate in that. And I’m going to look more into this. I’m going to read more about it. But thank you so much, Marion, for being here and explaining it all to us. And I?m definitely looking to learning more about. Thank you. Thank you so much for having me and thank you for all the great questions. I’m happy to see the interest, please. And if you are in the space for other people. I want to contribute, please reach out. I think you’d be wonderful in this space. Mainly. Thank you so much. Folks. That’s it. That’s the time we have for today. We’re going to wrap things up. I do want to reiterate and invite everyone to stay engaged. Look into coin app.co see what they have to offer and follow them on discord for more insights, updates, and any other information. It’s an exciting journey that’s just getting started. And I think we’re all going to be impressed by what?s coming next in the DePIN world and beyond. Thank you all for joining me today. It has been great. See you next time. Cheers. Cheers. Cheers.
