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Mint Season 2 episode 11 welcomes pet3rpan, a DAO and NFT thought-leader whose work is widely known across the early-stage token investment firm 1kx. He’s also a Community organizer and summoner at MetaCartel, as well as the Co-founder & blood mage at MetaCartel Ventures.
In this episode, we talk about:
- 1kx’s investment thesis
- Understanding the role of leadership in DAOs
- How to eliminate or prevent bad actors
- Strategies for growing decentralized communities
- His take on JPEG Summer
- His NFT investment strategy
- What will eat Web 3?
…and so much more.
Links: How To Grow Decentralized Communities + reference below for the funnel pet3rpan and I break down.
Thank you to Season 2’s NFT sponsors!
1. Coinvise – https://coinvise.co/
2. POAP – https://poap.xyz/
3. Socialstack – https://socialstack.co/
4. Celo – https://celo.org/
5. PrimeDAO – https://www.prime.xyz/
Interested in becoming an NFT sponsor? Get in touch here!
Give me a quick brief about yourself. Who are you and what were you doing before crypto?
Yeah, I’m currently at 1KX investment. Yeah, we invest across all of DeFi, NFTs, social tokens really have this thesis that, you know, the key innovation in crypto is really with this idea that you can take logic out of technology and then distribute that ownership of those. And, you know, we sort of invested really early in each sort of area. So we’re not really like a general DeFi fund. We’re not an NFT fund. We really see our core competency spread across everything. Mostly like, you know, leading seed deals and series a rounds right now. Last couple of years, mostly. I worked in DAOs most notably creating sort of Moloch DAO and you know, helping foster the DAO ecosystem. There were DAOs that sort of emerged from that. Created a venture DAO or Metacartel ventures was the first investment DAO on Ethereum and really questioning how groups of people invest together. Before crypto was really just like a designer doing product design, UX design, and user research was like talking to users. Yeah, that’s really what I’ve been up to , I guess.
Do you remember the first crypto that you bought?
Yeah, but like ETH or something in 2012/13? Well technically, the first crypto I ever touched was like in 2012 or 2013, where I was collecting Bitcoin from Bitcoin faucets, like daily. Like I had it in a separate wallet and it’s like I got $70 of Bitcoin in it. But it was like cents back then. I was just playing with it.
Where does your obsession with DAOs stem from? Did you have a bad work experience at a corporation and you were like, fuck this shit, we need to do it differently. Where did this excitement for decentralized organizations come from?
Yeah, honestly, I didn’t like didn’t really care too much about DAOs until I wanted to join Moloch DAO and I was rejected from it. So for those that don’t know, like the first of a real DAO on Ethereum. Like there was The DAO which was created in 2016, 2015, and it was hacked right and it didn’t really exist anymore, but Moloch DAO was really the DAO that really was born in early 2019 and yeah, like created a lot of the DAO movement. Tried to join it. It builds sort of like a mini elite club of ETH insiders is I guess, rich ETH insiders who were sort of a bit popular. And I wanted to join the experiment, and I didn’t really think too much of it until I ultimately was not allowed to let in.
Do you know why they didn’t let you in?
Because I was poor and no one knew who I was. So basically a lot of the, you know, being highly sarcastic, but I mean, it was funny, like, you know, a lot of the pledges were really from ETH whales, like 100 ETH pledges at the time back then it was only 20 grand. But it still was like quite a lot of money compared to someone who was like, pretty much broke at that time. I had like, maybe like, I don’t know, maybe had like 20 -30 ETH and I was like, okay, I’m going to try to pledge like a third of like my savings in ETH into like this random DAO just to learn, right? And just aside from a meme, like no one really knew who I was and it was just too little money so they just rejected me. Like a charity DAO, you know, sort of. Amin and I had this chat afterwards. It was like, why don’t you create your own Dao fork Moloch? And I’m like, that’d be hilarious. And foster the adventure began.
What’s the current state of the DAO that you forked. Where is it now? How many members? What do you guys do? Give me the rundown.
Yeah, I mean, we created a Metacartel DAO the first fork of Moloch, launched in like, you know, mid to early 2019 then. Created the first. Out of that we gave grants and experiments at DAOs , created the fuss about, you know, server scaled DAO that provided services, which is like devshop And designed work. We created the first investment DAO on Ethereum, Metacartel ventures. We created some of the first experimentation on a decentralized brand economy, like decentralized brand DAOs with Meta factory. It was originally called swag DAO. We worked in like decentralized reputation systems. We worked on the first ever part DAO that was supposed to like coordinate our parties in real life. It was actually supposed to be about sponsoring events, but just quickly devolved into like let’s throw whiskey parties. You know, and that was called Orochi DAO created by the coder from kickback. So I would say like, back then, it was just like a group of like I wouldn’t be able to say how many people. a meta cartel DAO, over a hundred easily. And you’re part of the ecosystem. Probably like 200-300 people, like totally across the Meta Cartel DAO ecosystem in all. And it was just like a bunch of people who like wanted to experiment with DAOs, like back then. And this was the community where we we hung out. And hindsight, it was just like a really nice time where like, you know, nothing was worth anything. You know, no one was making money. It was just like pure experimentation for the sake of it. I think we’ve grown really close as a community.
When you were starting your DAO, how did you approach leadership? Did you run into problems in the beginning? Walk me through that.
Yeah. I mean the whole pattern was just create more leaders. I think my mental model was just like, yeah, get more people to start things and champion them and give them more responsibility, you know? And give people responsibility that they usually would not be given. And that’s sort of like why as part of Meta Cartel’s values, one of them is, bet on each other better than others in the community. That was a heuristic that really led to I think like, or at least a set of values, that really led to this proliferation of all of these DAOs. Because like, when someone was thinking about like, Hey, should I create a DAO to like, you know create a pretty decentralized like brand? Or like create a DAO for like, you know, I don’t know services. We were basically, all in unison, like yeah, let’s do it. And we pushed the people behind them to go and experiment. I think that was a big part of. It was just like we did things, we supported each other. We really pushed this culture of experimenting and just doing. I think a lot of people were just talking about things and building infrastructure while we really want it to just like run and gun pretty much.
When you think of organizational structure, what are the core hats that need to be worn when initially starting it DAO?
Yeah, you need leadership. I guess you need a chef in the kitchen, who’s like really directing everyone who maybe own other responsibilities, right? Like in a kitchen you have like the head chef, they manage the menu, the produce the menu. But like there’s line cooks as sous chefs. Which have responsibility over working on several of the dishes or key areas of the menu. So, you know, different people may own different pieces of responsibility, but you always need a central coordinator around that. Usually how these things scale is that, at least how we scaled, it was just like, you know, me. I was coding a lot until a group of people who like took over and that was known as like the Paladins, right. We set up like different roles within the DAO. And then Paladins ran operations and that group took over. And then, you know, with each separate DAO, it was just like, you know, pushing people to like into coordination roles. They usually set the tone of what is a DAO, collecting resources, setting goals and tasks, and then usually once they’ve created initial group of people running in the same direction, you sort of then want to basically set up processes and systems to decentralize that central point of coordination. But to bootstrap any sort of DAO community, I really do think you need that like central you know, wall effectively or seminar, right. To just drive things forward. I mean, like centralized coordination is effective and efficient. It’s fast. And I think you should definitely like rely on it when you can, because when you’re big enough, you can’t really, you know, run in the same way and operate in the same way. So I think you want to make the most of those early days. Because early on you have like all this autonomy to craft and curate. As I saw, like I saw the early stage of Meta Cartel, where it was highly important like, who was involved, who I wanted to bring in, who we wanted to bring in. And we could do it very surgically as a group, less so. And today, like I’m meeting people who are part of the Meta Cartel ecosystem who like, I’ve never met before, but like a part of radio. And it sort of walks because each group that’s spun out like has sort of maintained the overarching Meta Cartel culture. Even though DAOs are wildly different things. And it’s definitely a lot less curated, but that’s sort of how I think DAOs really get to become curated later on. It’s just well coordinated. It’s like just the fractionalization right. And the other one who, you know, as a coordinator in the beginning, you’re the one who sets a tone, like creates like the DNA. The double helix in which it spawns everything else.
How do you think about contributor reputation with all of your experience managing and starting DAOs?
Reputation, I guess it like allows you to trust others a lot easily, a lot more, right. It’s basically like, I guess social coordination duct tape, right? A lot of it exists, like without really it being formalized. Like early on for a lot of DAOs, it’s like, I think whoever’s coordinating is really just like a central ledger book of like reputation for each of its like contributing members. And as you grow over time, I definitely think it makes sense to like set up some sort of reputation system to account for like who did what, because as you grow as a group, you can’t really, you know, I guess it’s like sort of like Dunbar’s number, right? Like you don’t know who’s who or anymore. It’s harder to keep track of that. At least mentally. I think for Meta Cartel we never really went past that stage yet. Like we still heavily rely on like individual key community members to like vet for people. And like I guess that’s vouch for new members and new projects, right. Definitely see a lot of other communities that need sort of more formalized reputation systems, but for us, we’re just growing very slowly., And yeah, like what is Meta Cartel today? It’s more like a group of DAOs that are focusing on each have their own goals and who’s in Meta Cartel is more like a curated list of who you trust, right?
No, it makes sense. And all these people that you trust have you met all of them, or these are just all internet characters that have kind of got referrals from other people that you’ve trusted.
Yeah. I’ve mostly met all of them over the last three, four years. Initially it was like just people who aggregated online. Online, first and offline. It’s like that’s definitely a core pattern.
When you’re starting these DAOs, how do you think about community building? And I only ask this question because you wrote an awesome article back in June titled, “How to Grow Decentralized Communities.”
There is no recipe for the process of community building for DAOs. It depends entirely what the DAOs are for, right? What the goals of the DAO are. So like you can go from DeFi, like DAOs own like DeFi protocols all the way to like, you know DAOs that basically manage treasuries and funding, right? Or DAOs that purposely, you know are focused on services, privacy, focused on social curation as a social club. Right. And so the person in which you like basically launch it out and tell, it depends on what the DAO is doing, how it’s evolving from. Is it starting from ground zero? Is a starting for an existing product or a set of assets, right? Like, it really depends where you’re coming from. And if for each of these sort of veins, right. And all the types of DAOs, these sort of patterns that emerge with, how do you bootstrap them? How do you launch these certain networks around them? It entirely depends on the goals and sort of the state of each DAO.
Walk me through those three tiers and share your insight as to what you kind of meant for each of those pieces.
I guess this would be a much of an abstract. It was like a mental model.. Which I wanted to share, which is, to really create a community of stakeholders that actually really care about the project and participate in governance, participate in the network. You know, like, in all sorts of ways, right? Like effectively it’s all about sort of fostering, like to create a great community, you sort of have to foster a sense of ownership. And so ownership is like what drives governance participation outside of monetary incentives. It drives, you know, like product feedback. It drives hiring. It drives working group contributions.
You know, drives all these areas of a DAO a decentralized organization that you sort of need to like fill, right? And it’s very hard to sort of manually find community members you know, unless you are able to bootstrap this like ownership, right? And how do you get your ownership? You have to build a relationship. And before you even are able to build a relationship, you have to attract and like communicate and, you know, like find potential community members that resonate or are like a fit for the community itself. So it was really just going backwards of like, how do we foster ownership? How do we get to that position to foster ownership? And then, how do we attract the right people? And I think that roughly when we’re thinking about the whole process of like building a community, like getting to the end state what the is like a climate like a group of people, at least how I define community is really a group of people who are collaborating one-on-one in a many to many fashion on a shared set of goals and, with a set of values. You know, to get to that place, it’s like, this is sort of roughly the process you have to go through regardless of what you’re building effectively. And it is a bit abstract in the sense of like, it’s just ownership, but yeah, for each and every network, recently I would even tweak this a bit. One realization recently was that some communities might actually want to maximize community participation. Some communities might actually want to benefit from community participation in the token network itself, right? Like the governance minimization, to some extent. Different communities can leverage a network participation in different ways. For some it’s a use of de-risked platform risk. For some others it’s used to crowd source, right? Cause this means the network means the crowdsourcing of ideas or projects or in the case of say indexes. Like the development of index products. Like they might want to maximize that. So as we sort of better understand what are the different types of token networks, there are sort of these themes that emerge. So it’s not always a black and white of like, we want to build maybe the biggest community. I think it’s really about identifying, who are the stakeholders, that matter for the end success of the network. Or project and then going from that, and then just building out these sort of funnels effectively that bring people to become a community member.
How do you build in public without giving away too much too early? So let’s give an example. Let’s say you’re building a consumer app or a web app, right? And you want to kind of take the components of DAOs in terms of how communities are involved in their ownership, but you don’t want to give up too much governance rights to these individuals. You want to keep the core product and its team somewhat centralized, but still build in production. Is there a way to mix the two? How would that work? Like how do you form a DAO without giving up all of the governance rights and exposing yourself completely. How do you keep it focused and narrowed and then expand gradually? How does that work?
What is the DAO’s end goal in general. All your decisions revolve around compromises that sort of like, I wouldn’t even start with that question. Yes when you’re putting a product that wants to be Decentralized, early on, you want to have local control over it. Especially when you need to create community participation, build it out, make quick decisions, move fast. Different projects have different levels of centralization, where they give away different levels of ownership away to the community. This is all dependent, on like what your end goals are. If you’re trying to build a hundred billion dollar financial primitive, well, you want nation states to trust you. Yeah. You know you probably want to have a fairly decentralized network, right? But if you’ll really building an application, where you want participation, to some extent. You want to, find upside. You want to decide network ownership that helps you get to the end state that you want to go for. And for some projects is going to be you know they might give away like say 30% of its tokens to community. Soome might give away 50%. And the beautiful thing is that projects are going to compete for the same customers, with their own networks. When you pick the product that gives you less tokens, more ownership. And it depends, whether which product is better? Which product or community do you resonate the most with? Maybe it’s the same all around and you just want the one that actually cares about the users or yourself the most. It really depends. A fluctuating sort of parameter that they want to find, you know, there’s no right answer.
How do you instill a sense of ownership within a community that transcends beyond the purpose of the token? So how do you encourage people not to just speculate, but to contribute?
Most projects launch a token with incentives and then try to use incentives to attract participation. Whereas you’re supposed to actually really, you know, find contributors or community members and then, find a middle ground between the intrinsic and extrinsic for them to participate. So you’re gonna start with participation and then reward that. It’s like most projects, you just get tokens that are just sold and like farmed and dumped and just like, you know, it becomes a fairly transactional environment. So yeah, like when we walk up to projects that one key aspect, really the methodology, at least approach that we take is really, you want to build a community fast, right? Find community participation or network participation. And then once you understand what the network looks like, how you will likely design it, who are the most important stakeholders, it’s really then designing like a distribution system or a token distribution plan that really rewards their most valuable network participants. Rather than going backwards from like incentive design. That doesn’t really work at least from our perspective.
Another question I have for you is as DAOs approach more of the mainstream world, and you see more of these, again, these creators, internet personalities, Instagram influencers, whatever, building these modern day decentralized fan clubs. Is that something that excites you or worries you? Do you think that’d be good for the space or toxic for the space as you bring more of these like normies speculating on themselves and the communities? How do you feel about that?
Yeah, whatever fraction we’ll hit, we’ll hit it anyway. I think that web 3.0 is a democratizing power that will empower communities. Participants at the same time are going to fall victim to scams and, you know, others taking advantage of people and it’s a totally new paradigm. So I think it’s inevitable. I don’t think there’s a reasonable way to approach something so powerful, so carefully. Like that’s a very naive sort of standpoint, like the internet hit society a wave, hackers were roaming the internet fishing people you know, hacking into systems that were unsecure. People falling pray. At the same time, you know, all these internet industries emerged, all these people you know, we got like online shopping, we got all these other services. As much as I like to say, like I’m, I’m definitely excited by the emergence of like actual adoption and actual use cases there. But I think it comes into the good and bad, I guess. Yeah. It is what it is, I guess.
You guys are one of the earliest NFT investors at 1kx. How do you make sense of what’s happening with JPEG summer? How do you wrap your head around that?
Yeah, it’s a good point. I think that I mean, there’s a lot of musical chairs of course. But I think what is happening is that, at least one case or sort of thesis around NFTs is that, we think art and collectibles were like a great initial beachhead for like, you know what it could be. And they were sort of like the obvious use cases for NFTs. But we’re much more interested in like the financialization of NFTs themselves. Like basically everything in the internet is an NFT. It just, hasn’t been introduced or minted into the web 3.0 economy. And when they do you really need protocols that unlock financial value, like the property rights of NFTs. We’re really excited about things like, NiftyFi where it’s like, you can basically take your NFT as collateral and get a loan from that. Like if you ‘re an Instagram influencer, you can’t actually go to the bank and get a loan for your Instagram posts. Because it’s not a real job, no one cares about it. But you can get your rocks, you know, whatever you want, your penguins, and you can go and get a loan for that. You might get a loan for your videos that might generate revenue, or even your token has video revenue rights or your articles. And so we think that that’s really the future and we actually overlooked a lot of the profile photos. Initially, like what’s going on? We didn’t really get it. But then we realized that we missed the musical chairs and hot potato games, we’re really playing. There was a certain section of the NFT economy, especially around profile photos where like these profile photos or like avatars actually represented the ownership. Like it represented ownership of certain communities collected by density. So I think like punks is definitely one. Bored Ape and other projects, maybe they eventually become established being like this game of, you know, a hot potato, but we sort of then sort of had this really interesting epiphany of like, “Hey, it’s actually about online ownership”. So, you know, I think that’s our explanation of that. Well, actually, we’re quite excited by this revelation. It’s like, it’s actually another take on identity that was completely different. I think a lot of people have tackled and try to solve, understanding what is identity from a very purely technical angle. Like from a standards angle. But you sort of see this as like, this is like identity being understood from a social angle, which makes a lot more sense.
What are you guys looking at, at 1KX? Are you guys investing in profile pictures? Are you guys more on the equity investment side? What’s your investment strategy?
Yeah, we generally don’t buy NFTs themselves individually as a fund. You know, we try to look for a general sort of strategy. We try to look for investments that build exposure across a broad area. So we sort of look for index bets. So we haven’t really found that yet, at least for the avatar space, but I definitely agree with you around that thesis, like at least early on in MetaCartel, when we created MetaFactory. There’s a lot of discussion around like UX being the barrier for mass adoption and, you know, technology is like abstracting away crypto, and we thought that was a part of the puzzle, but our thesis for mass adoption was that it’s actually going to happen to crypto natively. It’s sort of like hip hop, right? Hip hop was extremely niche, you know, created by really like black communities from, let’s say, you know, New York, right? Like, in fact, like it really came from a place that was so niche, so unique, had such a unique sort of identity, and that became cool. And others wanted to be part of that . Hip hop did not, you know, try to appeal to anything else it was itself and it said, fuck you to everything else. And I think like our thesis at MetaFactory was, we want to actually expose the coolest parts of web 3.0, like digital ownership, DAOs collecting NFTs ,digital property rights, royalties you know, to the rest of the world. And we sort of started with digital, physical clothing while like we had branded pieces of clothing, but they were sort of attached with rare and collectible NFTs themselves with RFID chip clothing. This thesis is definitely sort of playing out. Well, mass adoption is actually happening for the crypto native side of things. Whereas a lot of people try to solve it like, how do you do the same thing in Web 2.0 but in Web 3.0.
Adam: What a great analogy. The comparison between the rise of hip hop to the rise of crypto. And I’ll even argue that crypto is going to be bigger than hip hop and it’s own respect and way. Obviously they’re two different components, but yeah, what a good analogy to see the rise of something that was like, so of a fuck you mentality, this is our culture. This is how we feel. And this is how we express ourselves. And if you want to be a part of us, come join us. You know, our way. Crypto is very much that level of mentality and that aggressiveness and that level of anarchy that you don’t really see in any other space as of now. So the projects that you guys are investing in. I know you mentioned the intersection between DeFi and NFTs. Obviously that’s a lot of excitement right now. People are talking about that across crypto Twitter.
What other use cases get you fired up on NFTs beyond DeFi?
I think, so aside from financialization, like NFT financialization protocols, I think that we sort of see it as like, that’s almost like the melting block, right? All the creativity that spawns off digital assets and how they sort of become valuable, or at least how people can extract value from that. I think like the use cases are less specific to products and technologies, but rather the fact that like, NFTs and the fact that like you can permissionlessly enter this like financial economy without needing to be over 18. I remember what I was like 13 on the internet, like I was trying to like freelance and do motion design, and I couldn’t. I had to like get my parents to like sign up for a PayPal. The use case of like the NFTs I feel like, it’s like, you can create these financial assets, as a 13 year old or 12 year old and get into business, from day one if you wanted to on the side. And I think like this permission-less economy is actually the key use case that will probably lead to really cool things I think. It’s an entire platform itself, this existence of an economy.
Adam: One thing that I’m personally excited about is all these like future consumer applications that are going to kind of stem from either the social side of NFTs or the marketplace side of NFTs or merely the portfolio management side of NFTs that we have yet to see. Right now, if you think about it, the current state of NFTs is, it’s very much desktop driven, right? There is no real mobile marketplace yet that allows people to buy and sell stuff on the go. It’s something that you have to access through your Metamask wallet. And just the user flow is really messed up. And I know you mentioned it’s not a UX thesis, it’s more of a crypto native thesis, but I’d argue something different. I’d say actually, A lot of people need to understand what a dumbed down version of this looks like. People kind of get overwhelmed still by Metamask. People still kind of get overwhelmed by open sea and all the data and the search and basically finding alpha. Understanding what JPEGs do I buy? How do I buy it, et cetera. So that’s something that I’m personally excited about.
What’s your point of view on the development of crypto-native consumer apps? Anything on your radar on that end?
Yeah, no, I definitely don’t disagree. I think that my point with that thesis was that we really needed to solve for exciting use cases first. And then once you’ve solved that, then the next limiting factor was that user experience. And I think we’re definitely at the point where, I think the future of society is like groups of people collecting NFTs together. It’s groups of people buying and trading NFTs from one another. It’s creating NFTs together as a group. It’s meeting one another in these DAOs. And I think that slowly, maybe we won’t call this sort of activity DAOs or NFT collecting, who knows what the language and how we’ll extract it. But I do think it’ll look somewhat similar to this. And this is how people meet and connect with one another nowadays, right. At least in the future. And I think that, regarding user experience, I think it’s sort of like an amount of time before someone figures out how to take the really interesting bits of the crypto native and bring it to the masses. And maybe it happens from a top down angle. Like there’s a Steve Jobs that’s like the product or maybe it’s a much more decentralized approach, where you just have different ecosystems that emerge and slowly solve for greater adoption. Because it’s not like, boom, you know, you go from zero to a million users overnight with the invention of a better interface. It’s what are you out? We’re growing, our user base for generally Web 3.0 and the NFT economy fairly quickly itself. So I think it’s just like, this expanding bubble, no pun intended, that’s just growing and growing.
Adam: In my point of view, we’re seeing the rise of all these different innovative protocols, whether they be curation protocols, proof of attendance protocols, marketplace protocols for NFTs. And I think it’d be cool to see all these different puzzle pieces kind of come together in a nice, I don’t know, more mainstream type of way. Because users need curation. Users need to kind of create a diary of where they’ve attended and what they’ve attended, right. Users need a marketplace. And I think there’s a beauty behind working in a decentralized fashion, bringing all these different puzzle pieces and making one beautiful picture.
Just to add to the puzzle analogy. My favorite analogy is web 3.0 and crypto and DeFi and web 3.0 in general is a huge Sudoku puzzle. You’re maybe like filling in blocks a bit blindly and none of it might make too much sense until you, like, maybe you fill in the right box and suddenly you just unlock all of these other like boxes. And the Sedoku puzzle just suddenly became super, super obvious. And I think the lull and bear market that we had in like, especially in DeFi, I think like in 2019/2018, it was sort of the two boxes that we filled that really unlocked everything like lending markets and AMMs, like Compound and Uniswap. And those two financial primitives unlock, like the rest of DeFi. And for NFTs where maybe with bringing NFTs to the mass market, it’s like NBA TopShot proves that people understand collectibles. It’s like taking up these big questions. Like, do people actually understand this? I don’t know what you call this group of people who are like hardcore.
Adam: They’re the most active fans. You know, you have the people that watch on TV and then you have the people that go and attend the games, buy the jerseys, buy the cards, buy the branded cups, you know, and freaking paint their faces and shit. Those are the most active fans. You’re giving the more active fans a sense of community, a sense of ownership and the things that they love and they support already. I want to pivot into one final question. And this is something that I’m starting to ask everyone at least on season two. So I’m a big fan of the development of the internet, specifically how the transition from internet web one then from internet web two and how kind of, I guess, web 2.0 ate web 1.0. Let’s paint this picture. Web 1.0 was very much static, right? It was very much read only. You couldn’t really do much other than kind of browse information in an unorganized fashion. Web 2.0 came around, you had more advanced products like Google, like Facebook, Instagram that created more UX UI layers on top of this scattered virtual world. You had companies like Uber, a lot of mainstream centralized corporations and this whole rise of data control and data aggregation. And what that means. And now we’re seeing the development of what we like to call web 3.0, which is a decentralized version of social networks, decentralized ownership and web 2.0 ate Web 1.0. And the bet is that web 3.0 is going to eat web 2.0.
What’s going to eat web 3.0?
I have no clue, I thought about this before. We’re probably going to be like, you know, considered the next boom ers by the time that really happens and we’re going to be like most likely blind to, you know, the next wave of what happens, right? I don’t know. It’s a really good question. You know, everyone eventually becomes a dinosaur. It’s part of the cycle.
I think that’s a good place to end off. Everybody’s becoming a dinosaur, shout out to my dinosaurs. Peter, before I let you go, quickly plug yourself, where can we find you 1kx and everything you’re building?
Twitter is the best. You know, my username, if you search it in, you’ll find me easily. Always available for DMs.