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Metaverse Games and World Platforms — Transcript

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0:02okay so I wanted to go a little deeper
0:04into
0:05metaverse and how games in play uh is uh
0:09being affected by it
0:12we'll talk a little bit about you know
0:15companies video game companies that are
0:17out there right now that who've gone and
0:20um
0:21uh we've been around as a game company
0:25for many years and then evolving into
0:28you know a metaverse company uh it's uh
0:32just this
0:33uh crazy notion that maybe the metaverse
0:36isn't real you know you look at
0:38companies like facebook slash meta who's
0:41stock is plummeting like crazy because
0:44they basically over invested in the
0:47technology little too soon uh but
0:51I mean it's all relative you know when
0:54we were asked to Define what multimedia
0:57is for
0:58um a workstation company I was working
1:00for you know we couldn't really Define
1:02what multimedia is all about but just
1:05like the metaverse you know what do you
1:06what what is the metaverse who's who you
1:09know what what it it keeps changing in
1:12terms of
1:14you know commercial companies creating
1:17technologies that are gonna you know
1:19change what the internet is going to be
1:22to you know just doing the easy thing
1:25and and uh looking at what the metaverse
1:28should be which is you know what does
1:30the consumer need what do what what what
1:32do you or I need to make our lives uh
1:36with a better experience and really
1:39that's all what it's all about
1:42um you know the technology is changing
1:45obviously
1:46um but we'll we'll delve into it a
1:48little a little deeper in terms of how
1:50these uh you know our world of you know
1:53the way we we experience or play uh in
1:56uh today and as well as maybe in the
1:58future
2:05okay so I got this
2:08image from augray.com and you know what
2:12is the evolution of game you know we
2:14talked about knuckle bones and using
2:17Stones as as implements to our games to
2:20playing some simple games like Checkers
2:23or even before that you could play
2:24moncolo or uh you know or or we we
2:28talked about the games that uh you know
2:30Egyptians played and so forth right
2:33we have you know board games which I
2:36hope you folks are still playing uh
2:39having a physical object in your hands
2:40as well as moving pieces with your hands
2:43it's it's you know there's something
2:45tacti physical that that that that makes
2:47the game
2:49um fun but you know nowadays we have
2:51video games and our tactile is is either
2:54the keyboard mouse or a a game
2:57controller right
3:00um you know so so these are you know
3:03this Evolution uh you know going to uh
3:07desktop PCS to game consoles to mobile
3:11devices to tablets I'm constantly
3:14playing Clash of Clans on my on my
3:17tablet every day uh being in Legends
3:20league so I have to attack eight times a
3:22day
3:24um three minutes each attack kind of
3:26thing right
3:27um
3:29to virtual reality and augmented reality
3:33type games uh you know uh I've got I've
3:38got a
3:39a meta quest uh VR headset and uh as
3:45well as a Microsoft hololens
3:48and you know the the way you play these
3:51games is changing drastically and I and
3:53how the uh these Technologies are are
3:58evolving our game you know we're we're
4:00looking at it uh even deeper in the
4:03sense that the metaverse
4:05um with the uh I guess a way to look at
4:08it is the next generation of the
4:10internet is going to evolve our games
4:15so the metaverse was first defined by
4:18this book called snow crash written by
4:20Neil Stevens and we talked about this uh
4:22previously
4:23um and it's basically you know the
4:25metaverse is where humans interact with
4:27each other as avatars in Virtual space
4:29and in this book you uh either show up
4:33at a at a internet cafe in a terminal or
4:37you own a virtual reality headset
4:40and uh you know how the the world plays
4:45out it's it's actually this is a really
4:46good book I would suggest you reading it
4:49um and then you know this this book was
4:51written in 1992 and he called it a
4:54metaverse and that's how we got the term
4:56metaverse
4:58um but this human interaction and
5:00experience is exactly what we Define
5:02today in terms of uh what companies like
5:06Microsoft and Nvidia and and uh meta are
5:10are we you know
5:13defining their companies to to work in
5:16this world
5:18already player one is an excellent movie
5:21to watch I think it's uh produced by you
5:24know it's Steven Spielberg's uh and so
5:28you know the the virtual world in here
5:31is called The Oasis and
5:34um not to give away too much but uh a
5:37person is going to uh basically own the
5:40Oasis if they can figure out uh
5:43something
5:44and the whole premise is how these
5:48people are going to try to figure out
5:50what this is
5:52um but essentially it's the same thing
5:54it's it's this virtual space or virtual
5:57world that you know here I guess in this
5:59picture of this person or protagonist
6:02putting having uh the VR glasses that he
6:05puts on on so forth right
6:08and again this came out in 2018
6:12um but you know
6:142020 is when this metaverse uh I you
6:18know sort of changed during the pandemic
6:21happened uh you know for for it to be
6:25you know uh changing the world that the
6:28real world and economy
6:31[Music]
6:31um
6:32so our games that we have today that
6:35we've talked about in the past are like
6:36fortnite and Minecraft
6:38um where you can create a virtual world
6:41yourself you know you can pick up
6:43fortnite and go uh to fortnite creative
6:46and in on your own Island you can you
6:49can create your own
6:51uh game that people can join in and play
6:55um
6:55they're fortnite creative Minecraft's
6:58the same sort of thing where you you
7:00create these experiences and uh you know
7:03have others come to play
7:06I I I'll go into more details a little
7:09bit more with this Roblox VR chat same
7:12thing where you know you you put on your
7:14your VR headset and actually you don't
7:16need to you can actually go
7:18um use use the app and
7:19[Music]
7:20um
7:21I forget which one steam maybe and and
7:24and log in without having to use a VR
7:26headset uh but uh you know it the
7:31experience is way different when you
7:32have the VR headset and and of course
7:34there's there's Grand Theft Auto where
7:36it's the same sort of thing where you
7:38can join the Grand Theft Auto World and
7:42drive around and interact with other
7:44people
7:45um you know in in in this virtual space
7:52so fortnite came in 2017 by epic games
7:57and it's interesting that epic games has
7:59uh Unreal Engine and is known for the
8:01AAA titles where their number one game
8:04is this cartoony foot
8:07um Battle Royale game that's made
8:10the company billions of dollars uh but
8:13the the premise of course is you select
8:16an avatar
8:17meet others on on an island and of
8:19course be the last person standing by
8:21defeating everybody all 99 other people
8:24but they've opened it up where we can
8:27have virtual concerts as well as uh
8:30in-game currency and purchases to to
8:32purchase skins and that's where they
8:34make the most money
8:36um
8:36so uh in 2021 uh they they got a billion
8:42dollars in fun funding just to support
8:44their their vision of what the metaverse
8:46is and then this past year 2022 they
8:50actually raised another two billion
8:51dollars again for for this concept of
8:54what the metaverse is going to be
8:57um you know so that's how big this is
8:59becoming where these companies are
9:01realizing that these game companies are
9:05uh the in the Forefront of what the
9:07internet is going to be
9:09of one of the most important things that
9:13you need to do in a metaverse is create
9:14your own avatar because that's who your
9:17persona is in uh in in a virtual space
9:21world uh and this is Kakashi Hatake from
9:26Naruto where I purchased I probably
9:28bought this a year ago or maybe actually
9:30a couple years ago maybe when it when it
9:32came out on on fortnite
9:34and he's got you know special abilities
9:37that he could have he uh he plays in in
9:40the anime but you don't you don't use
9:42any of those in in um you know the
9:45fortnite uh otherwise that would
9:47probably change the meta
9:49for it uh but Avatar is the first
9:52important thing that you need to have
9:55uh
9:56and with that Avatar you can go into a
10:00virtual concert here's one in February
10:022019 where marshmallow this is one of
10:04the earliest ones 10.7 million
10:06participants
10:08um I ran up on stage here with my with
10:10my avatar you know you know jumping
10:13around with the Avatar of marshmallow
10:15who is you know live performing which is
10:18it was really pretty incredible if I
10:19remember it was like about 10 10 15
10:21minutes long it was not that long but I
10:24was just blown away by this
10:26um I forget Pleasant Pleasant Valley I
10:28think is this where you where you had to
10:30go to
10:31um and then in 2020 uh Travis Scott had
10:34his virtual rap concert eclipsing the
10:3610.7 million to 12.3 million concurrent
10:39players so that's an amazing number of
10:41players playing one game in one virtual
10:45space or virtual world
10:49Ariana Grande same thing this is all
10:52around you know the 20 2019 time frame
10:55um you know where she had her Rift tour
10:57and uh but uh what I want to uh
11:01emphasize here is the ideas that uh what
11:05makes money for fortnite as well as
11:07Ariana Grande is these in-game purchases
11:09right using virtual bucks or V bucks and
11:13the the metaverse as well as any other
11:16type currency that people are going to
11:20use to purchase things
11:22um has to be defined and uh converted so
11:26basically there's X number of of V bucks
11:29is worth one dollar or a penny or
11:31however you know monetary uh ratio you
11:35want to use for this um I want to say a
11:37thousand V bucks is 10 bucks maybe no
11:40that sounds kind of high I forget what
11:42it is I've played fortnite and over a
11:45while now since I probably did this so
11:47probably a couple years now
11:50um but here with with your with your
11:52in-game purchasing the money that you
11:54choose to use your V bucks you can
11:55you'll get uh for 2800 V bucks you'll
11:58get the Avatar of Ariana Grande outfit
12:00and um I think at the same time there
12:03was a space one too that you could
12:05purchase and and uh even space.com you
12:09know was was advertising the you know
12:11the Ariana Grande space
12:14uh skin
12:15you can get a back back bling which is a
12:18backpack
12:20um and an emote that you can you can use
12:22to to taunt other players and so forth
12:25as well as this glider uh that you can
12:28you can carry correct that might be the
12:30glider right there
12:33um I don't I don't know but in any of
12:35that uh
12:37those are the different items that you
12:39purchase with your v-bucks that you can
12:41now use in game
12:43um not everybody has played fortnite
12:47um but if you if you've got uh you know
12:50kids even even today uh I had stopped
12:54playing and and I would talk to uh other
12:57parents who who has kids and and they're
12:59eight year olds and nine-year-olds are
13:01playing fortnite so they're getting you
13:03know brought into this this world
13:08um
13:09another example is Minecraft so fortnite
13:11Minecraft is this the metaverse same
13:15thing you can create a Minecraft world
13:17and invite friends to join in
13:19okay so uh again you need a avatar you
13:24create a world you can rent a server
13:26where uh you know players from around
13:29the world can either play on your
13:30private one where you set up only
13:33players you uh you you you allowed to
13:36join can play or open it up as a public
13:39one
13:40um
13:41so basically a Minecraft server is a
13:44metaverse
13:45as defined so you have an avatar you
13:49have
13:50um you have a world that you can go into
13:52now later on we'll talk about economy
13:55and currencies which you you go in to
13:58use to purchase things
14:00[Music]
14:00um
14:01so but in general this is sort of the
14:04the you know the the basis of what
14:06Minecraft
14:07server should have as as a metaverse
14:13VR chat is yet another one
14:16um you create an avatar again a VR chat
14:19world that people can go into and and
14:21and chat
14:23um and and congregate and uh you know I
14:26actually tried it and it was not very
14:31um I got kind of triggered by it because
14:33people in there were were you know toxic
14:36they were you know rude and and not nice
14:39and I would not have uh kids go into you
14:43know VR chat there's just it was it was
14:47really
14:48um eye-opening in terms of how how uh
14:52people change now you know uh and V you
14:56could by creating your custom avatar you
14:58can be anybody you know you can be the
15:00the you can be the Energizer Bunny
15:02inside uh you know VR chat or even in in
15:05any of the other you know um
15:09metaverse worlds okay so so you know
15:13male female you know uh gender doesn't
15:17really matter in in in this world uh
15:20just like even in Grand Theft Auto
15:23um same thing
15:26um you know but uh basically still you
15:28can you can you can have your you can
15:30create your VR chat world and and your
15:32avatar and then have other people come
15:35in and use it right 25 000 Community
15:37created worlds and growing so there's 25
15:40000 worlds that that you can join
15:44um at least the public ones
15:47I don't know if you you can actually
15:48create private VR chat rooms uh but uh
15:52hopefully there are some good ones out
15:54there I would suspect there's some good
15:55ones out there I thought this was
15:56interesting that this this DJ uh had her
16:00own
16:01um Underground
16:03uh chat room that basically playing her
16:06DJ music in it and if you like that
16:07music that you know uh emo type music
16:13um
16:14roadblocks so same thing you can go off
16:18and create your your avatar in here but
16:20more importantly you can create a Roblox
16:22place or a world and in fact
16:26um we played uh games with a bunch of my
16:28students uh playing two of them um
16:31Arsenal and uh what was the other one
16:35called
16:36um
16:36evade
16:39and uh yeah right here arsenaline evade
16:41so Arsenal is a game that somebody made
16:44or a group created uh as a first person
16:48shooter type type type world within
16:51Roblox okay so Roblox is is a Creator
16:54tool right that allows you to create any
16:57game that you might can possibly
16:59conceive and in this case Arsenal it was
17:01a lot of fun actually I liked I actually
17:03like playing Arsenal as a first person
17:05game because you can just go in and and
17:07you know
17:09um uh
17:11have conflict I'll call it that way and
17:15then if you uh get eliminated you can
17:19just go right back in you know there's
17:20no there's there's no consequences no
17:22waiting
17:24um you know if you play fortnite if you
17:27know you you you could you could hide
17:29for 20 minutes and then finally die at
17:32the end or or you can you can die almost
17:34immediately you still have to rejoin
17:36another game kind of thing and it takes
17:38takes are used to take a long while just
17:41to get back in that kind of thing
17:43um but as a first person game that was
17:45just fun to play with a bunch you know
17:48there was about a dozen of us playing
17:51um I created my own private server
17:53and this is it right here hopefully you
17:55folks can see it you know I I guess I
17:58still own it um
18:00and uh created my own private server and
18:03I paid I think five dollars a month or
18:05whatever it is to uh
18:09Robux or whatever so 100 Robux per month
18:14um that I can have you folks play if you
18:17wanted to so that's one in Arsenal as
18:20well as this other one evade and evade
18:24as a game where uh it's sort of like a I
18:27call it a horror type game where you you
18:30get uh uh basically jpegs chasing after
18:34you and you have to you have to avoid or
18:37evade
18:39um while I actually doing some other
18:40type tasks uh and and not get caught so
18:44it's it's really it was a lot of fun to
18:46play
18:47um but somebody created this and
18:50obviously this game is way different
18:52than this Arsenal game
18:55um
18:55but these are just worlds people
18:57conceive you know they create their own
18:59assets that that are going to be in this
19:02world and then publish it so that people
19:04can join or in this case they're
19:06actually making money because roadblocks
19:09is is uh is uh allowing them to make to
19:13make money
19:14um
19:15I thought this was actually interesting
19:17uh that that uh we talked about Chipotle
19:22before uh where now Chipotle uh wants to
19:26drive consumers to Chipotle
19:29um and they're creating this uh Roblox
19:32world or their Chipotle world within
19:36Roblox where you can earn uh money or
19:41Robux for for free Chipotle
19:45okay
19:46so uh this is what is happening you know
19:50you've got this uh we'll we'll let
19:53consumers use their virtual burrito
19:55building skills to earn coupons for free
19:57Chipotle food in real life
20:00it's just yet another way of having
20:03customer engagement
20:06okay and using uh I'll use it kind of
20:09loosely metaverse technology
20:12to drive more customers to their place
20:18in this case the brick and mortar where
20:20they can buy the burrito or in this case
20:21get a free burrito right
20:24on the first hundred thousand players to
20:27successfully roll a burrito will be able
20:29to earn a free Entree okay so this is uh
20:32this is was done you know in April
20:35um but it there's just a lot of this
20:38that that is happening
20:41um
20:42when it comes to using a game
20:45like Roblox and having consumers use it
20:49to uh you know in the corporate world
20:52so
20:54uh Roblox metaverse uh okay and now
20:58let's just talk about the worlds
21:00themselves so uh we that was that was uh
21:03you know basically a few different video
21:07games we'll just you know from from the
21:09original video game
21:12um definition to this metavis metaverse
21:16world uh where they are not necessarily
21:19thought of as a video game like
21:21decentral land or the sandbox or
21:24insomnium space uh but these are places
21:28where folks can actually
21:31um you know have a real world like
21:35experiences in the virtual world uh
21:38everything from
21:40you know visiting a bar say or
21:43purchasing shoes you know they can do
21:46all of this in these metaverse worlds
21:55so uh decentraland uh came available
22:00February 2020 somnium space 2021
22:04um the sandbox was here in 2012 so it's
22:06been around a long time and uh the
22:09original metaverse platform I'll call it
22:11maybe I should list it here is a second
22:13life and that was in 2003.
22:17um you know so basically these are just
22:19World experiences that people can go
22:21into and live a life in this virtual
22:25world and when I say live a life it does
22:27everything that you might uh want to do
22:29you know uh create uh you know bought
22:32purchase a house living and live live in
22:36a
22:38a uh a building that you that you can
22:42you know you you can uh uh grow uh
22:46within the term grow uh within this uh
22:51metabus metaverse world
22:54and one thing that is available is that
22:56that these are these
22:58uh metaverse platforms are free to use
23:02so you can go in there and and uh create
23:05things in in these metaverse platforms
23:08uh and do it for free
23:11um but once you you you start building
23:14things and and uh having other folks use
23:18your your uh your world it could be
23:21whatever uh say for instance you are an
23:24artist and you wanted to create a bunch
23:28of of uh digital art that you want to
23:31display in your art your Your decentral
23:34Land Art Gallery well you can go ahead
23:36and do that and then charge people to
23:39buy your art within this uh the central
23:42land space
23:44um
23:45and of course what happens is the
23:47central end will get their cut from the
23:50amount of money that you get and I've
23:52actually got uh some interesting
23:56um decentral land type type worlds that
23:59I'll be showing you
24:01uh and uh how this works is that there's
24:05uh it uses the technology of called a
24:08blockchain to ensure security of data so
24:10everything that goes into these these
24:13metaverse types platforms like the
24:16central insomnium space and sandbox is
24:19way different from fortnite uh Minecraft
24:23and Roblox in the sense that they're
24:26they use uh blockchain to make it so
24:29that they can guarantee anything that
24:31you purchase can be um
24:34uh is is yours to keep unlike Kakashi's
24:39uh a skin that I purchased in fortnite I
24:43can't I can't sell it to anybody
24:47um at least not legally I guess uh but
24:49uh you know within these worlds if you
24:52purchase something in the central land
24:54you can actually go back out to the
24:55marketplace and and sell that piece of
24:58art you purchased for a a profit
25:02um within the game
25:03so uh blockchain ensures the security of
25:06all of this now nfts guarantee the
25:09uniqueness so it may the nfts are
25:13non-fungible tokens and that allows you
25:15to go off and uh build uh a a portfolio
25:20of of digital art say that you that you
25:24own somebody could screenshot what you
25:26have but if somebody does that
25:27you can sue them
25:29um because you you you've owned uh the
25:32uh the the the the digital art you as
25:36guaranteed by the nft and put on the
25:39blockchain to ensure the security of it
25:42so uh you can move your nft to other
25:45places
25:46and it'll be the same
25:49um
25:49and you still own it
25:51cryptocurrency for economy transactions
25:54specifically uh uh ethereum uh and you
25:59can you can go on you know in in the
26:02stock market and buy ethereum for some
26:04price I can't remember it's kind of high
26:06thousands thousands of dollars uh for
26:09for one ethereum
26:11um
26:12but that gives you this is It's the
26:15currency that is used within these uh
26:18these metaverse platforms okay
26:21um it's nice thing is that it's trade up
26:23a decentralized Marketplace so you know
26:26decentralized meaning that you know you
26:28can use it anywhere within this world
26:30and it's still guaranteed that if you
26:33buy it you get to keep it and if you
26:36sell it then you make that purchase you
26:38you get the money for that
26:40um and it's guaranteed
26:42put down your cross platform VR capable
26:45but it doesn't necessarily have to be VR
26:47it could be a you know a web 3 based
26:50website that that um uses this but if
26:54you have VR uh or ar it just makes it
26:57that much more immersive with those
26:59Technologies
27:04so let's talk a little bit about
27:06decentraland.org okay so this is a uh
27:10a a place that you can you can go to
27:14um that
27:16uh
27:17it's it's free to to go to it let's see
27:20right here right create explore and
27:22trade in the first Earth ever virtual
27:24world owned by its users so everything
27:27in there is owned by whoever bought buys
27:31a piece of land in this world so welcome
27:34to decentraland
27:36um lose yourself in an amazing evolving
27:38world so explore lands owned by the
27:41users to experience incredible scenes
27:44and structures so this is what makes it
27:46uh very different than
27:49um fortnite say you know or playing
27:51Grand Theft Auto you can actually go in
27:54there and I want to say that decentral
27:56land you can buy a piece of parcel land
27:59for uh 20 256 meters by 256 meters
28:04square parcel land and then build
28:06something on it and then once you build
28:09something on that land you can sell it
28:11and people buy this land it's crazy what
28:14what people are buying and selling in
28:16the central land
28:19um so this three this is from their uh
28:22description here is a digital game that
28:24mimics reality in three-dimensional
28:26format it's user-owned ethereum based
28:30virtual reality World platform so
28:32ethereum is the uh is the crypto
28:34currency that that uses uh uh and it's
28:38open world meta versus combination of
28:40virtual reality augmented reality and
28:42the internet
28:43it allows users to be part of a shared
28:45digital experience in which they play
28:47games exchange Collectibles buy and sell
28:51digital real estate or wearables for
28:54Avatar socialize and interact with each
28:56other so
28:58um they were saying that there's uh you
29:01know they were claiming a lot more but
29:02what I can only find is that right now
29:04there's 8 000 active daily users
29:08um and you compare this with Left 4 Dead
29:102 which I actually just purchased and
29:12they have about 10 000
29:14um average daily users of this metaverse
29:18platform in this case the central land
29:21uh so but the difference here is that in
29:23Left 4 Dead you could just play the game
29:25and and leave it here if you're playing
29:28in the central land there's 8 000 of you
29:30that you can actually share with this
29:32digital experience
29:34um and sell sell where is there if you
29:36wanted to or buy land uh if you wanted
29:39to
29:44so again Minecraft Roblox fortnite you
29:48know very non-centralized that I guess
29:51the you know decentralized uh is the
29:54term so here you it's still a metaverse
29:57like
29:58environment where you create an avatar
30:00you can plan congregate in the virtual
30:02world you can build new worlds and you
30:04can purchase items right so I mentioned
30:06this Kakashi skin that I purchased you
30:09know but I can't sell it to anybody once
30:12I buy it
30:13uh fortnite Slash epic games own my
30:16money okay it's a one-way deal
30:20[Music]
30:20um
30:21which is way different than say uh the
30:24metaverse economy and transactions here
30:25where cryptocurrency and digital
30:28currency uh is used in this case
30:31ethereum which uh decentral land uses
30:34that guarantees that I can now uh if I
30:39buy a piece of land in decentral land uh
30:42I can sell it and get real money back
30:45okay so uh and ether ether is what it's
30:48called I think whatever let's let's
30:50let's say I get back one ether I can
30:53actually go into the marketplace
30:57and um and and uh I trade my ether for a
31:03dollar for for dollar bills or I I want
31:05to say it's like three thousand dollars
31:07or something uh maybe I can I can uh
31:10look it up here uh but but yeah so
31:13that's what this cryptocurrency is all
31:16about in digital currency it's it's you
31:18know you could you can use it elsewhere
31:20right if if maybe one day fortnite
31:23starts using
31:25um uh you know
31:27ethereum cryptocurrency or or Bitcoin
31:30with within fortnite then we can maybe
31:34trade my Kakashi uh
31:38um skin for something else
31:39uh yeah so but obviously
31:43um you know you could just go and buy it
31:45yourself if you want to
31:47um but it's not unique uh where if it
31:50was made unique then it would have to be
31:52stuck uh an nft has to be attached to it
31:55so that I can only there's only one
31:58kakeshi Sensei that that I owe
32:06uh so we talked about uh
32:09the cryptocurrency and the economy to uh
32:14making digital objects unique okay so
32:18that basically there's only one like it
32:20in the virtual world in any world okay
32:23so if you if you purchase this in in
32:27um
32:27on open C say or or someplace like that
32:31some one of these you know nft
32:33marketplaces you are the only one that
32:35owns this particular piece of art
32:38um some people have been making millions
32:40of dollars just creating art like this
32:43pixel art right here I forgot where I
32:45got I think I probably got it on
32:46Wikipedia
32:48um but there's basically even though I
32:50made a copy of this somebody owns the
32:52original copy of of this pixel art okay
32:55right down here
32:57nfps came out in the world as in 2012
33:02um anything non-fungible means that it
33:05is unique and cannot be replaced so by
33:07the original Mona Lisa painting no one
33:08else has that original
33:10okay so yeah you can take a picture of
33:12Mona Lisa
33:13um but the original is owned by you know
33:16I don't know it's in Louvre or something
33:18like that
33:20um but that's the sort of the example
33:22here right only one uh say one Picasso
33:27we bought an original Picasso you own
33:29that right now same thing with this
33:32pixel art you own this pixel art
33:35um and uh because the nft guarantees it
33:39and then what happens is you you put
33:41that nft on the blockchain and that that
33:44guarantees that it it it's secure
33:47so um wherever it goes within within the
33:51blockchain within the the the metaverse
33:54so
33:58um again so blockchain here is the
34:00system that securely records and stores
34:01the information and transactions right
34:04so uh from this pixel art to buying
34:09virtual shoes to
34:12uh buying uh land on the central land
34:15these uh nfts are are each each one of
34:19these uh digital objects has an nft
34:22associated with it and the blockchain is
34:25The Ledger that securely records and
34:28stores the information of these
34:29transactions okay so there's there's
34:32basically the paper trail for where
34:34these things came from and where they
34:36belong
34:37um
34:38so here the nft and ethereum is the
34:42cryptocurrency
34:43uh so very important in terms of the
34:47economy for the metaverse
34:50here's virtual art
34:52so virtual art what is it where you at
34:55some Marketplace like in the virtual
34:57Mall you go to a virtual auction in this
35:00case South B's digital art fair
35:02September 30th 2021 and you can buy this
35:05machine hallucinate hallucinations that
35:08was created by an artist and uh bought
35:11it for 3.1 million Asian
35:15um at the time for this piece of digital
35:18art
35:19okay uh just just crazy somebody bought
35:23some uh some art for 64 million dollars
35:28um
35:28but that's what you can do and and you
35:31can go on uh
35:33you know these auctions and buy the the
35:36this art and be able to play it and
35:39stand in it kind of thing
35:42um
35:43so
35:44uh here's virtual real estate and that's
35:47what we're talking about with decentral
35:49land and I think this was somnamium
35:51actually when I pulled this so you know
35:54here here's this land area that you can
35:57you if you have have your avatar that
35:59could look be like your likeness or
36:02somebody else that you want to be heck
36:04you might
36:05um if I wanted to I could look like Brad
36:06Pitt in in this world
36:09um so uh but uh you know in this virtual
36:13world you can go in here and create real
36:15estate online and then sell it
36:18as you create this land
36:21um so it's kind of kind of a cool
36:23concept
36:25um but uh is it real right now you know
36:28is it are we still in the adoptive and
36:31adoption phase I don't know you know but
36:34it certainly has gone crazy in terms of
36:36their uh importance and and money that
36:39they that that these you know companies
36:42are making with these virtual land and
36:44virtual real estate
36:46okay so uh in early 2022
36:51um
36:52104 million 105 million dollars for just
36:56four metaverse projects okay that's just
36:59for four that somebody purchased
37:02um sandbox
37:04um originally was dominating when I did
37:06this and this was like you know earlier
37:08this this year
37:10um I probably should update this but 86
37:12billion dollars in nft sales
37:15the central land is in second place okay
37:19um but it's it's it's making a
37:21difference people are buying luxury
37:23Yachts on sale I thought I saw one
37:27just the other day I think it was three
37:30million dollars somebody bought a yacht
37:31in
37:33um and uh
37:35decentral land I think it was
37:38three million dollars for digital art
37:40dig a digital yacht
37:45so here it is you know here's salmonium
37:47as an example you can go into the VR
37:49Mode live using
37:51um the the uh
37:53Oculus Quest
37:56um or a United called meta Quest I guess
37:59it is right uh so here it's open social
38:02virtual world and so forth uh it's on
38:05blockchain so everything is
38:09um you know uh guaranteed and and uh in
38:14The Ledger
38:15so and you can create your own world if
38:18you wanted to all this and insomnium
38:20space but basically it's what you can
38:23still look at it as a video game but
38:24it's beyond that you know they don't
38:26they don't say you know it's a video
38:28game because it sounds cheapening right
38:31that uh uh somebody's buying you know
38:35tens of millions of dollars in Virtual
38:38land in a video game doesn't sound too
38:41good but if you say if you call it
38:43virtual space
38:45um or virtual platform then you're
38:47buying it in uh you know that sounds a
38:51little bit better
38:53uh
38:54so your sandbox
38:5786 million in nft sales but obviously
38:59this has probably gone up since I wrote
39:01this probably should put a date in it
39:06[Music]
39:08so that's
39:09uh the platforms and then here are
39:12commercial companies here's Nike that
39:15came out uh with crypto kicks so this
39:19piece of generic Nike Dunk Genesis
39:22there's different versions of these that
39:25you that are unique just by a tiny bit
39:28that you can own and an nft guarantees
39:31that you are the only one and only
39:33digital art owner of this shoe
39:37okay so there were uh the equivalent of
39:41buying one of these shoes between four
39:44and ninety five hundred dollars per pair
39:46and the uh Marketplace was called open C
39:49is called open C uh and you can you can
39:53buy all kinds of things in there that
39:55you know the big one was that that
39:56monkey art
39:58um that uh
40:01let's see something's wrong with my
40:05look let's see I know
40:10um and uh you know there were nine
40:14thousand night Nike Dunk Genesis and
40:17she's had been sold at this time
40:20um you know I don't remember again I
40:22don't know exactly remember when uh what
40:25those were
40:26uh but uh you can go to openc right here
40:30open C and then come over here and and
40:33buy this land
40:35right here so this land is on um
40:39decentralized the decentral land
40:42and you can buy one world for 0.8999 I
40:47will not add to my cart
40:49because I that could be two thousand
40:51dollars
40:53um I don't you got I'm gonna have to
40:55look up what the exchange rate is for
40:57this ether ethereum
41:00um
41:01uh but uh you know
41:05let's see uh if I can search for a Nike
41:10uh Nike shoe on open c
41:13and uh
41:16here's Nike apparel
41:19uh Nike
41:22shoes
41:25Genesis I guess I should look for let's
41:28go
41:29dumped Genesis
41:35okay and then it's literally here they
41:37are so this uh this one sold for 21
41:40ethereum
41:42okay 1845 ethereum
41:45wow this is 45 ethereum so this is the
41:49number one
41:51um
41:52so 1.5
41:54000 one and a half that one one one
41:56thousand five hundred dollars
41:58um 1.25 so it's about a hundred dollars
42:01or I'm sorry a thousand dollars per
42:04ethereum
42:05so you can buy this if you like
42:10um and that's up to you
42:13uh but uh you can go go grab it so
42:16somebody owned it
42:18um you could probably find this
42:19particular version of it somewhere in uh
42:22open c
42:24foreign
42:25but nuts
42:30uh and nice thing is that you can at
42:33least what what it should come down to
42:35is just like you buy your you wear your
42:38Nikes in the real world
42:40you should be able to write Warrior and
42:42Nikes in the central land and uh so
42:46hopefully that's what it's going to come
42:47to but companies like like Nvidia are
42:51creating tools that allows you to be
42:53able to you know collaborate on using
42:56different types of
42:58um modeling tools hopefully it'll it'll
43:00do the same for you know I should be
43:03able to use this Nike shoe into Central
43:05land as easily as in
43:09on the insomnium say for instance uh but
43:13uh this is
43:15worth 130 000 right here I'm not you
43:19know this looks so similar to this one
43:21actually uh but who knows what the
43:24difference is this could have been the
43:26original right here
43:28um and you can but you can buy this Nike
43:31shoe instead of you know buying Nikes
43:33for 60 bucks
43:35one thousand five hundred ninety two
43:37dollars and 27 cents
43:45oh that's the metaverse uh in terms of
43:48consumers and how it's playing around in
43:50our in our world of of uh of games and
43:55and how we're how we're learning to play
43:57in in different ways now
44:00um
44:01so
44:03all right

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