Web2 and Web3 Trends

Andrew Rosener will talk about trends and comparisons he is seeing in domain sales in Web2 and the current domain space, to what he has noticed in the Web3/NFT space.


(00:01) [Music] [Applause] so [Music] [Applause] [Music] [Music] [Applause] [Music] kinetic is a blockchain crypto investment firm based in hong kong and puerto rico founded in 2016 they were the first fund in hong kong and one of the earliest in asia with a portfolio of over 220 companies they were seed investors in such projects as ethereum parity and polka

(01:04) dot solana ftx and of course handshake in name base [Music] founder johann chu was an active investor and supporter of the handshake ecosystem over 100 000 domains co-founder of d-web foundation co-founder of handicon and sponsor of the handshake house at miami hack week 2022 [Music] all right everybody thanks for enjoying my glasses all right so we’re in the next session um yeah i mean that was that was uh i mean we’re playing these as that’s a that’s a non-voice not my voice but that’s kinetic capitals uh video with

(01:51) the voice over and uh yeah he had that’s jahan’s script he says over a hundred thousand uh uh names so it’s pretty amazing right uh in handshake um so today’s session is drew rosner and he was meaning to do it live but unfortunately uh family uh came up so we had a pre-recording i did it with him and we can play that back i i will be here for questions and answers or chats i’ll be in the chat with you um as i you know i got a lot of insights from drew during this session uh it’s a fascinating fascinating one it’s very

(02:33) fresh just just was done a few days ago so we could uh we can load it up uh on the screen please and uh he’s he’s a top the top domain investor well great to have you back through to handycon you were one of our top sessions last year and you’re the ceo of media options an award-winning domain broker having arranged top deals in the space in both web 2 and web 3.

(03:02) i’ve also seen that you’re an innovator and investor a lot in the space and and i’m really excited to have you back say thanks for being here with us drew no i’m excited to be back that’s uh handshakes a great community and by the great time doing the talk last year also got a lot of positive feedback from people actually continue to get positive feedback from people on twitter so um excited to participate nice nice okay so yeah i mean uh time time flies i can’t even believe it’s been a year i mean especially now you know it’s funny

(03:32) it’s like i i agree right like on some level it feels like you and i were just having this same conversation short while ago but then at the same time if we actually zoom out and think about all that’s happened over the course of the last year it seems like an infinite amount of time like yeah so maybe we just start there i mean i mean there’s so yeah there’s so much to cover but like what are some big big things i mean i know you have a board a profile photo on your twitter and i think that wasn’t even was that just

(04:03) coming out last year at this time i think i i think it literally was like about to mint a couple weeks later after we after handshake conference last year yeah so yeah i mean i don’t know yeah how do you how are you feeling now i mean from this year to last year oh man all right well i mean that’s a a really broad question but i i think we have a lot i think it’s gone in both directions right so we’ve got a lot of clarity on on some of the how’s this thing going to play out i think i’ve gotten a little a

(04:33) little bit of clarity around the way that i think this transition if you want to call it a transition will take place but at the same time so infinite a number of new avenues channels expressions of web 3 have emerged i i would argue that a lot of that came about as a result of the nft space and and even more specifically the board of yacht club because of the type of community that they were able to to build and all of the derivatives that came out of that and and what that means for web3 domains and so you know i i

(05:11) think maybe that’s a great place to start actually it’s just like all right board of yacht club the whole nft space exploded in ways that nobody i mean i got involved in nfts in 2018 right i i was a help co-founder an investor in uh cryptograph.com and we were the first nft platform in the world to be doing like celebrity nfts we were one of the first people to launch nfts right you know outside of crypto kitties and it was like we did paris hilton’s first nft she didn’t even know what an ft was

(05:46) before like you know ashton kutcher whose business partner guy oh siri is now the manager for the entire board of yacht club right he didn’t know what an nft was he did his first entity on cryptograph and that was all in 20 late 2019 early 2020 right not that long ago but nobody knew what this stuff was we were too early in the end and so i think what happened is exactly what you said shortly after this talk last year boarded yacht club launched and it somehow changed the entire game in the nft landscape it was by giving away the

(06:21) commercial rights to these nfts they sort of it was kind of the aha moment for me and i think for the broader landscape of like oh this is what this means like okay art on a blockchain cool you can see the ownership the previous ownership you can track it you can verify that this is the original that this is what somebody says it is there was a lot of utility driven from simply taking art putting on a blockchain and obviously i’m oversimplifying but but at a broad level it’s like no all right that is good

(06:56) however when you give away all the commercial rights that are now trackable on a blockchain and definitely pay royalties back to the creators and all the stuff that comes with the financial aspects of it the administrative aspects of it and now the commercial aspects of it like whoa okay that’s a big idea right and so that got me excited and so i went really deep into according to yacht club i probably at one point was probably one of the largest supported yacht club owners and then but even more interesting for this conversation is

(07:28) like what are the implications of the explosion of that nft space obviously the low hanging fruit easy one is like oh well domain names are the original nfds and in particular decentralized domain names clearly are nfts by definition and so that’s interesting because it has implications for the value of nfts if we’re looking at how hot this space is and these decentralized domain names have a greater utility than i would argue 99 of the nfts out there and so but if we drill down further one of the bigger

(08:02) implications is all right let’s say one of the hottest categories at least up to this point of nfts is what we call the pfp right the profile pic and as people want to utilize their nfts for you know to to flex let’s say it’s at the end of the day the fact that there’s like the economic incentives of mfts but really this is it’s what art has always been it’s it’s some kind of social signal it’s a it’s a it’s a flex yeah in the same way my watch my car whatever people have different ways of expressing this

(08:35) stuff but it’s just built into human nature we want to you know for lack of a better word show off right and so but and it’s not necessarily just the ego driven show off it’s like it’s tribalism it’s like trying to say i’m a part of this this is part of who i am and so it helps to attract other people who are like that and i think twitter is the most perfect expression of that right it’s like c8 follow ape is is sort of the expression right that was sort of created by board of the club but it’s

(09:02) like or community the board of duck club it’s it it’s just a derivative of what i was just saying it’s it’s tribalism and so tribalism can be bad but but it can also be very good it’s part of our nature to to develop tribes and communities and so bringing that back to decentralized domains what we’ve seen is instead of everybody having these wallet addresses that are just clunky and impossible for any human being to remember well now we’ve got really short condensed addresses in the form of

(09:33) dns names handshake names unstoppable domains right that people can now utilize to really express that flex to say look here’s my you know wallet that’s got my gallery of nfts you can come and see the stuff that i’m into and if you’re into the same stuff let’s connect on twitter let’s get into a discord channel like it just creates a a if domain names in the 90s were a new way for people to communicate amongst each other through information on the internet even if it wasn’t a a a bilateral communication

(10:06) these web three domain names have offered a new way to communicate and connect through the web 3 ethos and the web 3 values and the web 3 utilities right so i think that was one of the big movements over the last 12 months was was like all right we all knew sort of went through domains they’re cool they have certain utilities they offer certain protections that traditional domains don’t and that was all cool and we were all excited about it and we had that sort of early stage euphoria and then it was like all right well it’s

(10:39) still really hard to publish content on them and have people see that right it’s not really searchable you can’t really resolve them unless somebody’s unless you’re willing to jump through the hoops and so that really limits the let’s say uptake and and end user adoption now a market can survive on speculative adoption for a long time as bitcoin did basically for probably eight nine ten years before there was really any end-user adoption speculative adoption isn’t a bad thing and it’s and it can’t

(11:12) sustain the early phases of a market but it’s great when we start to see real world adoption and utility and so i think that’s part of what’s happened over the last 12 months that that social media aspect of it the pfp flex the ability to use these things in your twitter profile i think that to point people to your gallery or to point people to your your nfp collection etc i think that was a big let’s say improvement or innovation let’s see what else it’s great i mean one of the positive things well you got it oh i’d

(11:43) love to hear the positive sorry well one of the positive developments i think since our last uh talk as well i expressed a lot of let’s say hope or or or advice really to the nft the decentralized domain community that in order to have any hopes of end-user adoption and and uptake in the real world we really needed to do a lot of community self-policing on the trademark front and on the domain squad in front and i am blown away at how well heard that seemed to have been i’m not trying to take you know credit for the reason

(12:19) that happened but really there’s just been you know amazing initiatives taken to let’s say even if domains of a trademark holder were registered to reach out and say hey we’ve got this domain for you the community has done an amazing job of that and um handing them over not trying to act like pirates and i think that even beyond just the sort of good faith and good will that that will bring to the handshake community and to the decentralized domain community at large i think that it’s actually a really good

(12:51) indicator of the more broad decentralization movement right it’s like people describe hardcore decentralization maximalists as like being anarchists and it’s like well no i’m not sure that’s true and i think people don’t give let’s say humans or communities enough credit for having good intentions right and it’s like sure there’s always going to be bad actors and there’s always going to be abuse abusive ways to use a new technology the only experience like you can use a hammer to build a house pound

(13:21) nails or you can use it to bludgeon somebody to death right and it’s like that doesn’t make a hammer any less valuable right so i think that for the most part it is really ah it’s really positive to see how well the community has self-policed and really welcomed trademark holders and and traditional businesses from web 2 into the web3 ecosystem by saying hey we’ve got your domain it’s for you we’re not trying to rake you over the calls here and yeah that’s that’s yeah that was great i

(13:56) remember that was a big takeaway from last year from your talk for sure i mean we’ve been commenting on it and i think it’s also crypto in general tries i think they’re very the crypto community is very gifting in donations they put a donate address bitcoin address people donate we’ve seen a lot of projects it’s it’s it’s true i’m really happy my next question is here you’re we have before recording we’re talking about you know the old and the new worlds is do you see more movement from

(14:23) your traditional community in the domain space moving into web three a lot or more has there been trends i i mean there’s pockets right so you’ve got a lot of holdouts that have no interest and are very much against it i think that’s any industry right look at finance right it’s like one day you’ve got jp morgan saying bitcoin is rat poison in the next minute they’re launching a whole division and providing billions of dollars of liquidity into the market so natural to to see a gradual progression

(14:55) but yes i mean i was actually quite surprised at how much sort of speculative adoption was taking place across the various decentralized domain platforms over the last 12 months i’m really shocked to see how much aftermarket action there is you know across the various centralized main markets and i am seeing more and more interest i i to be honest and to be fair i i’m not i’m not seeing a lot of end user adoption or a lot of end user interest although that being said actually just yesterday one of our clients in the music industry

(15:31) reached out and said hey we would like to get all of our sort of decentralized domain extensions that make sense for our business and so we’re working on that now so that was that was quite interesting and i think that is actually my first client that’s come to us saying we want to go out and protect our trademark across all these web3 domains so that is quite interesting and probably a sign of more things to come but yeah i would say it’s not it’s not a mad rush but it certainly are positive signs

(16:00) that’s great and then i i mean at the end of the day like name cheap and richard coming in and yeah that’s you know really really planting his flag that’s a big development i mean namecheap is one of the largest main registrars in the world we are the largest domain brokerage firm in the world clearly there’s serious interest and intrigue from the legacy domain world right so name cheap hats off they’ve been sort of first movers and early adopters of tech since their beginnings and the richard and his team are are

(16:32) just aces they’re they’re professional and and excellent at what they do so i’m excited to see what they do here in this space yeah they’ve been really really contributing a lot and yeah they also bought name base they basically i hope it’s just amazing and and yeah he has i saw richard is tweeting about it a lot and he’s really trying to get to make it even more decentralized in the in the marketplace which is really awesome even we’re i was just kind of asking about traditional

(17:01) domain investors to web 3 but even within this kind of web three there’s people that buy the domain web you know decentralized domains but they don’t buy the jpegs they kind of even in the handshake community some some of these people watching today are like almost joke about the jpegs right or even the board apes or are these pictures they say it’s domains but you don’t need you don’t need the you don’t need these nfts i’m with you i mean i i have some ethereum nif i wish i got the board ape

(17:26) honestly but i didn’t but i have some others and um i’m diversified i have the the jpegs i have the domains i mean what what’s your kind of take on on that like where should people be looking at or balancing yeah i i mean first foremost this is not financial advice but um i think that this is uh a question that can be broken out into a bunch of different parts right and so from from an investment standpoint this is all new right this is this whole web 3 movement is new and particularly let’s say the

(17:54) more faceted stuff obviously layer one crypto tokens there’s one thing that’s nfts centralized domain names and all the stuff that comes with that and the various types of nfts dow structures all of this stuff is is is new and innovative and disruptive and i don’t think that we can even begin to fathom all the ways in which they will develop i think that in general it’s always smart to have exposure to emerging technologies to the degree that you can afford and to the degree of risk that you’re willing to take

(18:28) but i think not just from a financial standpoint but also just from an educational standpoint from a adaptive standpoint i mean i think that if there’s a single skill and i’m the first i’m not the first one to say this but there’s a single skill that you need to survive in the coming two decades it is adaptability if you cannot act like a chameleon if you can’t adapt to new technologies new geopolitical environments new social environments then you are going to have a very difficult time over the next decade or

(18:59) two it’s going to be change on a pace and on par with nothing that we’ve ever seen before in human history across every single field of technology from the way that we organize socially the way that we organize politically the way that our way that we treat money the way we handle money what we call money the way that we interact with each other the way that we communicate the way that our health uh every aspect of our lives is going to change and so i think that yeah both both let’s say personal development wise

(19:32) and financially i think it’s very good to diversify and have exposure to a little bit of everything in this environment because we don’t know what’s going to work we don’t know what is going to nobody knew that nfts were going to explode the way that they did right i mean we’re seeing over the last over that basically that same period of time the last 12 months we’re seeing domain names in general just take off and i mean domains have been around since you know 1985 was the first main registration this is not a

(20:02) new technology really like and suddenly over the last 18 months they’ve taken off in a way that i’ve never seen in the 23 years that i’ve been involved in domain name the 25 years now that i’ve been involved in domain names i’ve never seen anything like this and so what changed right it’s just perspectives changed the needs of consumers changed and the needs of businesses to address those consumers changed and so i think it is critical to have exposure to as many different areas of web3 as

(20:32) you can and so yeah that means decentralized domain names that means nfts that means participating in dows that means doing anything that you can to learn about participate in and have financial exposure to these different technologies yeah no i totally agree with you and then digging down a little bit more i know this is uh always a hot topic in our in handshake communities there’s obviously there’s multiple domains these are domain extensions and choices right and i i know you’re investor and unstoppable

(21:03) which is it’s just was really doing well and there’s ens domains you mentioned earlier and i think there’s even a few others that are i don’t know if they’re gonna can we can they all exist i mean what do you see in the future like with all these different decentralized domain so so this is this is i i think i felt like i had even more clarity about what that future looked like last year and today i have to be honest like i i don’t know i really don’t know it’s like i was talking with

(21:30) a client i guess actually yesterday was not the first one because we actually had a client that came to us this is maybe four or five months ago and saying they wanted to get a particular domain it wasn’t actually for their trademark it was for something else but they wanted a domain that was a uh it was a handshake to me and romance shake domain extension i should say and they said well the guy wanted a really high price and and they weren’t willing to pay and he’s like they said well what are our options and i said well you

(21:57) don’t have options you you you’re either going to pay the price or you’re not going to get it that’s just that’s what it is i mean there is no udrp there is no dispute mechanism it’s just you either pay or you don’t that’s it and so to that same end you can’t cancel unstoppable domains you can’t cancel a handshake domain you can’t cancel an ems domain although dns i think is a bit more if we were really push hard on it i think that you know it is more centralized can be let’s say maybe it’s

(22:29) not entirely immutable but i i think that i don’t know i guess the market can dictate what what the winners are but i don’t know that any of these will not exist right because once they’re on the chain as long as that chain continues to be supported by validators or or miners it’s not going anywhere so but despite what anybody wants or needs or or or just doesn’t it doesn’t matter so i i don’t know i don’t i don’t know who the winners are in my mind i i look to the legacy domain system and i think

(23:01) about what are the things that will absolutely guarantee the perpetuity let’s say the original adoption and the perpetuity of the technology and it’s like all right email content and forgot what my third maybe how it was ease of use or something maybe i don’t know um but i mean email’s a good one right like i think a lot of people buy their names just for email addresses oh absolutely yeah absolutely yeah absolutely i don’t know if we yeah so i i think that a re resolution right so so i think that the first one to come up

(23:35) with a really good easy to use email uh solution for web decentralized domains that’s a huge advantage when it comes to content i content and resolution i think are are go hand in hand right it’s like the ability to have to easily publish content but you can publish the best content in the world if people can’t see it or find it it doesn’t matter and so that leads us to resolution which is basically browser resolution right and so it’s like really the two linchpins are browsers resolving these domains and email

(24:12) solutions for the domains and interoperable email ideally right so with interoperable meaning it sort of bridges the gap between web 2 and web 3. but you know i think those are the things that we need to be looking out for and the ones that start to solve those problems in the best way and the fastest way will likely be the winners okay agree yeah i mean i think one of the other one of the other big things that happened that i think is interesting i’m not even sure what the implications are for you know decentralized domains but

(24:47) ethereum name service published a paper basically explaining how they had made it possible to now take a legacy root domain like comma.net.org and resolve an an ethereum address to that domain or have the domain resolved to an ethereum address and so that that allows you to use a com for example as a wallet or as a web3 identity in a sense which is quite interesting and and basically what that did was give legacy domain names all of the same capabilities a decentralized domain name except for one and that one is the

(25:25) immutability and censorship resistance right and so my concern with web3 domains today which hasn’t really changed is just like there will come a time where it basically comes down to a browser for example saying am i going to resolve x dot x y z sorry i pulled out xyz morph is an example then it’s actually a bad example to use just because of the interoperability but am i going to use this web to resolve this web to the main extension or am i going to resolve this web 3 domain extension because in many cases

(25:57) you won’t be able to do both and so a lot of that is going to come down to this this censorship resistance question right and and it’s going to come down to some hot topics like child porn and uh drugs and and so the regulator’s gonna always say like we cannot have an internet where we can’t take down content and so but by the same token regulators are always gonna say you can’t have money that we can’t control and so this is the battle of the next 20 years is going to be centralization versus decentralization

(26:32) and this is just one of the vectors where that battle will take place is is decentralized domains yeah it’s totally it’s really fascinating and like you just said you could just to connect what you said people didn’t follow but yeah like bitcoin they’re fighting bitcoin or the money right now the web 3 is the internet which finding the information so it’s money and now internet so it’s interesting and look i i would argue i don’t want to get political here but it’s like to me it’s

(27:01) pretty pretty obvious that we’ve been manipulated to an extent that’s i in my opinion unmatched in history by our governments by our media over the last two years we’re seeing censorship at a that i don’t think we’ve ever seen at least in in we’re seeing deep platforming we’re seeing financial censorship we’re seeing financial d platform we’re seeing all this stuff at a at a scale that is unprecedented and so i would argue that censorship resistant information censorship resistant money

(27:33) has never been more important than it is at this very moment right now today and so look if this is a battle worthy of fighting and again i think that the market is ultimately going to dictate the winners yeah it’s very exciting times like yeah like i remember when there was that canada i don’t follow it too closely but they started like trucker convoy yeah anybody that donated some old woman i read a story that some old woman you know donated 25 bucks completely innocently to support the trucker convoy

(28:02) and you know they that woman got literally her bank account shut down and it’s like what are you talking about what world do we live in this is it this is in china right you know if that happened in china it would be like wow that’s a little bit extreme right and yet it happened in canada and it’s like i it’s supposed to be one of the most democratic freedom-loving countries on the planet and you’re shutting down old ladies bank accounts because they donated 25 to a cause that they supported yeah like

(28:35) you should be whatever i don’t want to get to what you’re doing here but it’s like it is i don’t know that should have pretty severe consequences in my book you know i did yeah the same i mean like but same with like social media like web 2 with you know facebook and if you say something and then your comment i can’t i try to reply to a comment once and it says my account wouldn’t let me say a comment on my official page to reply to like my my my professor from my college left a comment i couldn’t respond because i had

(29:06) to i don’t know what i had to do something on my account to verify my identity on my account to reply to this comment on my page it’s like unbelievable stuff like this happening all the time yeah and and the sad part is the old expression of like it’s boiling a frog you put a frog in cold water and you slowly turn up the heat and the frog doesn’t really notice until it’s too late and and that’s basically what’s happening they’re just slowly turning up the heat on censorship and unfortunately the vast majority of

(29:35) the population worldwide not not just in in any particular country but everybody is just sort of taking it and accepting it and that is the part that’s really scary to me yeah okay swim back to the domain name investing world i mean do you or when you have your hat on to like buy a decentralized domain versus like traditional domain is there any differences in your approach i know we talked about last year i believe with the tld of course and handshake is a lot different than a s traditional domain name on leftover dot

(30:08) um i don’t know if you want to touch on that a little bit kind of get into i know it’s getting kind of towards the end of our discussion here but uh you know some strategies for people choosing names to buy or yeah i mean i think as people started to come to understand nfts more and and sort of the maida verse has become a big topic i think there’s a really interesting comparison between decentralized domain names and the miniverse land so to speak right and it’s like so i think you could say like handshake is kind of like nft

(30:36) worlds if anybody’s familiar with that nft world’s basically launched uh 10 000 unique nfts each one represents a mataverse world that you own it’s your property that world is basically like an open source version of minecraft it’s also backwards compatible with minecraft you can upload these worlds into minecraft and go in there and play hire like a voxel architect that goes in and develops that world into a game or into a whole world or into a gallery into a museum into a literally a planet you could do these

(31:09) things are massive right and they support massive multiplayer functionality and play to earn dynamics and tokenomics and pretty interesting right so it’s a it’s a it’s a wide-open landscape that you can do many things with i think that is sort of what handshake is and then you’ve got things that have reached more end user adoption or like like the sandbox or decentraland which i think are things that are people are much more familiar with and you’re seeing more adoption with like snoop dogg building a mansion in

(31:44) sandbox and then selling tokens that allow people to come and and interact with him in that mansion and come to small concerts that he hosts there and see his nft gallery etc and and i think the same thing goes for decent land right like you have these sort of hosted environments within the broader december land environment or within the broader sandbox environment and you can sort of exit the one plot and then walk over to another plot or teleport to another plot and then you have these different places within this more controlled environment

(32:16) and that’s sort of like what unstoppable domains is right it’s like maybe uh a little bit more hand-holding maybe a little bit say simpler onboarding for an end user but so there’s trade-offs on both sides of that right ease of use usability you’re trading off that on handshake but you have much more flexibility and adaptability handshake whereas unstoppable domains you are you have sort of easier tools for for onboarding and and and connectivity et cetera right and so but you’re more limited you you’re getting something to

(32:51) the left of the dot as opposed to getting something to write a dot that allows you to put anything you want to the left in the dock or open it up as a registry to allow others to register domains to the left of the dot on your domain extension right so i think that that’s a pretty good comparison of like a handshake is more like nfc worlds on supple domains more like buying a plot of land in the central land or in sandbox and i now i lost track of what the question was i was actually uh just like strategies for you know choosing ones or

(33:19) investing in handshake or decentralized domains versus uh traditional domains any inside insights like i think yeah i mean i think again you know comes back to what i said earlier i think having exposure to all of this stuff is is valuable and and and and warranted right i think if this is a space that’s really intriguing to you then i think it would be foolish not to have exposure to all the different elements of it at the end of the day as you and i were discussing before we got on the call it’s like the

(33:49) bread is still being buttered in web 2 right and so i think it’s foolish to sort of say oh web two domains are dead like that’s very far from the truth i mean we’re seeing uh web two domain names appreciate the prices never before seen appreciating at a pace it’s faster than ever before in history and more innovation and adoption is happening on web 2 than ever before in history right and so it would be very foolish to sort of write off web 2 as a dying technology that will be replaced by web3 and that’s

(34:22) no longer the vision i have at all i think that when i came into the decentralized domain space i was looking at it as a hedge to my legacy domain portfolio and legacy domain businesses but i don’t look at it so much as a hedge today as a sort of like very connected upgrade right web 3 decentralized domains and nfts and dows but these consensus structures these governance structures these native monetary properties of all of these technologies are just enhancing web 2.

(35:00) it’s taking it’s not going to replace web 2 web 3 i think it’s i think that’s a very false perception i fundamentally believe and i’m highly confident in this belief that red 3 will not ever replace web 2. web 3 is an enhancement of web 2. in the same way that web 2 is based on the same protocols of web one it’s just that it was an upgrade and an enhancement of what can be done on those protocols and i think that that’s the same thing here i think web3 is introducing new protocols

(35:37) that will enhance the existing web as we know it you know i don’t i’m still not convinced that people will host their primary website except in sort of edge cases on web3 i think that it offers a really interesting like the mirroring capability is really interesting because it creates a safety net for de-platforming and censorship right that’s really interesting that’s another really interesting development that’s come out of the last 12 months disaster recovery as somebody 100 100 it’s like this is your fallback this

(36:12) is your fail safe this is the hits the fan insurance policy that’s uh i don’t underestimate that what i mean right yeah yeah i got to develop the bitcoin 2011 and people were talking about you had uh uh uh you know chama saying this is schmuck insurance you have bellagio saying this is basically armageddon insurance you know and and it’s like people laughed at that they scoffed at it and then it’s like you wake up today you go whoa man turn on the news look outside shirt does look like armageddon’s on our doorstep you

(36:42) know yeah and so it’s like it might have been nice to buy that insurance policy when it was out of the money now now that now that you want to buy that insurance policy it’s now in the money right okay so um yeah i think that uh i think that i very much still fundamentally believe in the legacy domain system i still fundamentally believe in the internet that we know and love and all the things that we hate about it and i see web 3 as a solution to a lot of the things that we hate i think it is going to force the vast

(37:15) majority of our internet as we know it today is driven by ads right that is the business model my ads make the world go around on the internet and i think that that has never been a good business model except for a handful of companies right and it’s never been a very sustainable business model it drives the wrong incentives and misaligns the incentives of the people who basically control and operate the internet with the people that use the internet and so i i see web 3 really as the solution to that problem as introducing an entirely

(37:47) new business model to the internet that allows for uh a massive explosion of new forms of content better content instead of a race to the bottom in content in terms of quantity over quality we’re going to see a race to the top in terms of quality over quantity and reformation of communities less polarization and so i i really see web 3 as an enhancement and a really refreshing shift in the incentives of the internet that’s really what i see and so i think it’s again just i would be doing everything you can to

(38:26) enhance your personal development and learning around these technologies and for me at least i don’t learn the best way for me to learn is baptism by fire right so just dive in obviously do your own due diligence don’t listen to anonymous nft profile pictures on the internet but i think you would be well served by getting exposure to these different things financially because i think that will drive your best understanding of how they work and what they might be able to do in the future and figure out how you can help

(38:58) contribute because this is super early innings and it’s like what we need is just more people educating themselves more people educating more people and more people throwing spaghetti against the wall and seeing what sticks because again there’s just infinite numbers of possibilities when you look at the new stack of let’s say technologies that can be developed here utilizing decentralized domain names with decentralized money and decentralized you know organizational structures like dao that’s a powerful stack that is going to

(39:33) lead to literally species changing events i don’t think that that’s an exaggeration our ability to reorganize the way our social structures work the way our money works and then re and then allocate capital and resources through these new structures and wine interests is going to change the way that our species exists on this planet i i fundamentally believe that and that’s all going to happen over the next 20 years amazing amazing time to be alive and experiencing this change absolutely wow good and bad yeah that’s a great way

(40:09) to wrap it up i mean man this has been a fascinating conversation really true thanks again for coming back and sharing i guess i just want to close it off like people in the audience that want to connect i mean what would what some ways what are smarter ways to work with you and your your and your firm media options like what are what are some yeah so mediaoptions.

(40:28) com number one domain brokerage firm in the world if we you need help with acquiring a uh domain name for your business or if you have a domain name that you think is uh valuable and you want to sell it contact my team at media options uh we’re the best there is one of the projects that we’ve launched over the last 12 months since we last spoke is eight productions i partnered with grammy award-winning music producer timberland and we launched 8-bit productions apen.

(40:55) com it is i think the world’s first nft and mataverse driven record label our first group was called the zoo and we created an nft series representing new music that we created through these characters through these board apes and that’s been a really enlightening and exciting project a lot of fun cool this come with a lot of headaches and a lot of trouble and a lot of learnings but that’s that’s the way it goes and uh we’re excited about the next chapter of that project we i we do a lot of these conversations on a weekly

(41:26) basis on demate sherpa.com which is the podcast that we own that is discussing both legacy domain name system but you know we also now have it down the rabbit hole series that goes into depth into decentralized domain names nfts crypto and all that comes with that and yeah awesome great stuff true dearly really thank you so much for your for this and it got me thinking too i got a lot of notes and always appreciate you sharing at these handicons and you’ll find me on twitter at andrew rosner and i am very frequently

(41:59) on twitter i love engaging with everybody on twitter you can hit me you can poke fun at me you can tell me to go pound sand i don’t have sensitive skin and i love to engage on twitter so awesome hit me up we’ll do we’ll do thank you thanks guys [Music] [Music] all right all right i think we’re gonna take a quick little break here and then we’re going to be talking with jordan who made uh h s chat so that’ll definitely be an interesting talk or actually shoot we gotta we gotta do that right now actually

(42:52) so yeah i think we’re interested for a quick break i think uh i know a little bit off a little bit off schedule but uh i hope everybody enjoyed that session uh you know i’m trying to answer questions in the chat we tweeted out andrew uh on twitter you can also tweet them um and uh i think what have people been using the networking uh uh is the isn’t is a lounge helpful i saw some people at the tables um yeah i need to take a break i need a few minutes yeah all right i can i can just start up the next session uh because it’s

(43:30) actually one minute until uh he’s supposed to speak okay so we’ll see you guys there then we’ll just skip the break we’ll just go right to the next session h s chat uh jordan i’m really excited for this session he man it came out really uh really out of out of nowhere and like in two three weeks they’ve been building amazing products on handshakes i think i’m really excited for this talk [Music] [Applause] [Music] kinetic is a blockchain crypto

(44:34) investment firm based in hong kong and puerto rico [Music] founded in 2016 they were the first fund in hong kong and one of the earliest in asia with a portfolio of over 220 companies they were seed investors in such projects as ethereum parity and polka dot solana ftx and of course handshake in name base [Music] founder johan chu was an active investor and supporter of the handshake ecosystem over one hundred thousand domains co-founder of d-web foundation co-founder of handicon and sponsor of the handshake house at miami hack week

(45:13) 2022 [Music] [Applause] [Music] [Applause] [Music] foreign [Music] [Applause] [Music] [Music] [Applause] you