►
From YouTube: NFT Infrastructure - Panel - Near Day at ETHDenver 2023
Description
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#nft #dao
A
Hello
and
welcome
to
this
nft
infrastructure
panel
I
can't
see
a
thing,
but
that's
fine.
My
name
is
Bruno
and
I'm
from
the
remark
company
ecosystem.
A
We
we
built
nft,
2.0,
multi-chain
standards
and
today
we're
going
to
be
talking
about
nft,
infrastructure
and
I
think
that's
really
relevant
to
Define,
because
it
can
mean
a
lot
of
things
to
a
lot
of
different
people,
but
before
we
do
that,
I
want
to
hear
from
our
panelists
I'd
like
to
give
them
a
chance
to
introduce
themselves
and
their
project
so
that
we
can
dive
in
properly
on
what
each
of
them
are
doing
and
how
they're,
addressing
this
really
ambiguous
term
that
you
know
will
have
to
also
Define
during
the
panel.
B
Yeah
hi
I'm,
Chris,
Chris,
Kosinski,
crazy,
last
name,
I'm,
one
of
the
original
co-founders
of
Tinder
I
helped
invent
the
swipe.
I
was
a
co-creator
of
bumble
as
well,
and
some
other
some
other
companies
right
now.
I'm
working
on
a
company
called
Niche,
which
puts
users
into
interspace
clubs
that
are
organized
or
structured
as
nft
gated
dials
under
the
hood.
But
we
obfuscate
all
the
scary,
crypto
stuff
away
and
just
give
people
a
next
evolution
of
social
network.
Nice.
C
Great
I'm
Nate
Guyer,
co-founder
of
mint
base
we've
been
building
nft
applications
since
2018.
we're
actually
one
of
the
first
apps
to
deploy
on
the
graph
protocol.
If
you
go
to
their
website,
you'll
still
see
our
logo
up
there
from
old
school
days,
and
we
know
how
painful
it
is
to
build
a
blockchain
application.
Indexers,
that's
a
pain
in
the
ass
you've
got
smart
contracts,
pain
in
the
ass
you've
got
audits,
also
expensive.
C
We
know
it
all
works
because
we
use
it
ourselves
and
we're
going
to
add
an
affiliate
program
where
you
can
actually
get
1.25
of
our
Market
fee
directly
if
you're
able
to
purchase
any
nft
on
near-
and
the
last
note
is
we're
the
only
fully
interoperable
Market
on
near
where,
if
you
create
your
own
contract,
deploy
it
and
mint
it'll
automatically
show
up
at
our
indexer,
where
you
could
see
a
pleth
of
data,
whether
it's
full
provenance
of
tokens,
this
that
and
all
sorts
of
neat
things.
So
thank.
D
A
E
A
D
Hey
everybody:
my
name
is
Austin
World,
co-founder
of
Keno
I'm,
a
three-time
tech
founder
with
a
specialization
in
economics
and
law.
I
went
to
the
London
School
of
economics
and
University
of
Southern
California
gold,
School
of
Law,
so
I
get
really
jazzed
about
smart
contracts,
even
though
they're
pretty
dumb
contracts
currently.
But
the
future
is
bright
at
the
intersection
of
technology
and
law
Aquino.
We
are
building
and
about
to
launch
multiple
films
on
a
marketplace
where
fans
can
go
behind
the
scenes,
invest,
collect
and
experience.
D
A-List
level
films
like
never
before
all
through
smart
contract
technology
on
top
of
a
protocol
layer
that
is
the
trustless
place
for
artists
to
have
their
IP
and
economic
rights
protected
in
the
Hollywood
industry,
which
is
an
afariously
known
for
being
one
of
the
spaces
where
nobody
trusts
anybody
else.
So
we're
about
to
change
that
through
smart
blockchain
technology
and
we're
proud
to
be
a
near
partner.
A
Thank
you
all
right,
so
defining
nft
infrastructure
is
kind
of
is
an
interesting
problem,
especially
in
this
mixed,
like
type
like
the
these
mixed
types
of
projects
that
we
have
here,
each
of
you
probably
has
their
own
idea
of
it
like.
A
It
can
be
anything
like
for
us
that
remark,
and
if
the
infrastructure
is
just
the
standards
that
we've
built,
we
don't
really
care
about
the
stack
underneath.
We
don't
really
care
about
the
storage
we
care
about
the
standards
and
what
they
do
and
what
they
enable
in
terms
of
future
proofing
nfts.
But
for
you
it
might
be
how
something
is
stored
for
the
for
the
movies
and
how
you
can
expand
that
offering
in
order
to
you
know,
enrich
that
media.
A
You
know
it
can
be
IP
tracking
in
terms
of
nfts
or
it
can
be
just
literally
deploying
an
actual
Marketplace
as
a
tech
stack
as
an
infrastructure.
So
if
you
were
to
pick
one
definition
of
nft
infrastructure,
that
means
the
most
to
you
that
that
you
define
as
nft
infrastructure.
Could
you
clarify
it
and
why
it's
important
for
your
project?
D
I
think
trustless
Ness
I'm,
not
sure
if
that's
a
word
but
I
think
it
works
for
us
building
out
the
technology
that
enables
you
to
track
if
you're
a
fan,
your
rights
to
Future
profits
in
a
movie.
So
let's
say
you
know
we're
going
to
launch
a
movie
with
Matt
so
and
so
who
my
co-founder
mentioned
earlier
that
he
worked
with
but
I'm,
not
going
to
say
his
name
you're
like
it
hits
the
movie
theater,
it
did
100
million
dollars
worldwide.
D
I
don't
have
to
go
to
an
accountant
and
a
lawyer
to
know
that
I'm
going
to
receive
that
one
percent
of
that
film
I
own.
It's
going
to
be
trustlessly
transferred
to
me
on
blockchain
right.
That's
a
pretty
cool,
Innovation
infrastructure,
wise
you
know,
or
if
it's
I
own
the
right
to
the
Batman
mask
in
Dark
Knight,
that's
not
possible!
That's
already
been
done
for
the
record.
D
Go
watch,
Dark,
Knight
a
great
movie,
but
if
you
had
bought
the
right
to
that
prop
before
it
was
made
on
Kino,
it
would
be
shipped
to
you
afterwards.
You
would
know
that
it's
an
authentic
prop
because
of
the
infrastructure
on
chain,
and
you
could
have
traded
that
right
across
wow.
D
It's
getting
louder
across
different
ecosystems
through
the
chain
right
or
if
it's
even
down
to
IP
protection
like
q
and
far,
is
doing
proud
to
be
a
few
and
far
partner
as
well,
and
you
know,
there's
you
don't
have
to
go
through
all
these
middlemen
and
so
for
us
I
think
that's
what
is
most
exciting
about
the
technology
that
all
of
our
teams
are
building
is
that
the
worlds
in
which
we
live
in
are
so
congested
with
middlemen,
be
the
lawyers
accountants,
sometimes
even
Engineers
they.
D
E
It
was
awesome,
I
think
for
us.
There's
been
three
iterations
of
web3,
thus
far,
there's
the
first
one,
which
was
static
websites
decentralized.
Then
there
was
centralized
Facebook
Instagram
Twitter
we're
going
back
to
decentralize
where
we
own
our
data
and
we
can
monetize
it.
So
the
first
problem
I
think
what
we're
desperately
trying
to
solve
is
integrating
people
seamlessly
and
in
order
to
do
that,
it
needs
to
be.
E
It
needs
to
be
like
Facebook
and
Instagram
to
where
they
don't
feel
the
pain
and
the
friction
of
logging
into
something
having
to
set
up
something
else
having
to
buy
something
just
to
get
to
that.
One
item
that
they
wanted
and
the
second
part
of
this,
which,
in
my
personal
opinion,
is
super
important
and
I,
think
you'll
agree.
E
It's
the
creators,
the
creators
are
there's
a
bunch
of
controversy
going
around
with
Creator
royalties
and
if
you
look
at
it
most
of
history,
art
has
art
and
and
music,
and
everything
that
makes
us
great
has
has
been
creators.
Who've
decided
what
Society
is
so
protecting
them
so
that
we
can
continue
to
create
beautiful
music,
Beautiful,
artwork,
great
cinematography
and
movies.
C
Okay,
definition
of
infrastructure,
for
me
is
blockchain,
is
incredibly
hard
to
build
on
top
of
if
you're
play,
Ember
or
sweat.
Those
guys
just
want
to
focus
on
building
their
app.
They
don't
want
to
fire
up
a
team
of
eight
people
to
just
focus
on
building
indexers,
because
inductors
are
really
hard.
We're
talking
about
a
fire
hose
of
data,
that's
shooting
stuff
all
over
the
place.
C
If
they
don't
want
to
focus
on
those
we're
taking
those
kind
of
difficult
things
away
to,
let
them
focus
on
building
their
app
they're,
not
using
them
based
I'm,
just
using
them
as
an
example.
The
main
thing
is:
if
they
just
want
to
focus
on
their
one
app
going
out
getting
people
to
get
miles
on
their
feet
or
do
whatever
they
can
focus
on
that,
we'll
focus
on
the
really
complicated
low-level
stuff.
So
that's
that's
the
the
infrastructure
play
for
me.
B
So
I
think
for
for
Niche
what
nfts
mean
for
us
is.
It
represents
ownership.
It
represents
some
like
digital
Ledger
of
ownership.
Right
now,
we're
focusing
on
those
being
your
interests,
your
social
groups,
your
networks
like
for
me.
It's
like
I,
belong
to
a
Star,
Wars
group
and
then
like
La
Tech
people
and
like
a
cat
group
and
like
the
poodles
and
doodles
in
New,
York
and
all
sorts
of
these
weird
things.
B
But
in
my
wallet
now,
I
have
nfts
that
basically
have
codified
all
my
interests
into
into
a
very
central
place
and
as
we
look
forward
to
it,
we're
trying
to
look
through
it
through
the
consumer's
eyes
of
like
what
do
you?
What
what
does
an
nft
mean
to
them?
And
it's
you
know
whatever
stigma
is
attached
to
it
now
of
a
you
know,
a
picture
of
monkeys
or
Bieber,
paying
a
million
dollars
for
something
that
that
represents
absolutely
like
no
utility
to
I
think
an
end
consumer.
B
So,
like
I,
said
we're
focusing
on
like
it
being
your
your
digital
membership
card
to
your
Social
Circles.
It
can
be
a
ft
of
that
represents
like
an
event
through
one
of
your
clubs
and
IRL.
That
gets
added
to
your
wallet
too
and
adds
to
a
rich
history.
If
I'm
part
of
this
club
I
went
to
these
events
and
eventually
we'd
like
it
to
be
a
digital
Ledger
of
a
physical
good
that
you
could
buy
right,
I'd
sell
a
Star
Wars
thing
online
of
the
nft
of
it.
B
It's
a
smart
contract
between
the
two
they
ship
it
to
me,
I
complete
the
circle,
and
now
that
nft
goes
into
my
wallet
as
a
digital
representation
of
a
physical
good.
That's
in
my
collection,
which
adds
I
think
to
my
social
status
of
you
know
if
I'm
in
that
specific
Club,
so
we're
looking
at
the
pragmatic
uses
of
what
an
nft
means.
A
All
right,
all
right
so
very
happy
to
hear
that
there's
a
lot
of
innovation
on
top
of
just
jpegs
here
in
every
single
project,
which
is
great,
which
brings
us
nicely
to
the
next
topic
like
we
are
kind
of
the
ecosystem,
is
kind
of
poisoned
with
this
idea
of
nfts
just
being
a
static
piece
of
media
right
now,
and
it's
really
hard
to
break
away
from
this.
A
We
like
we
at
remark,
try
to
make
the
standards
future
proof,
and
so
that
you
can,
you
know,
take
a
movie
and
literally
mint
an
IP
right
as
a
PDF
and
put
it
inside
of
that
movie
nft
or
then
add
a
subtitle
file
as
literally
another
nft
into
that
interview.
All
of
that
is
is
cool,
but
you
need
to
make
some
compromises.
So
what
I'm
wondering
is
in
your
quest
to
add
utility
and
purpose
to
these
nfts
on
your
infrastructure?
What
sacrifices
have
you
had
to
make?
A
How
do
you
decide
between
you
know
the
compromise
of
keeping
backwards,
compatibility
with
the
old
world
of
nfts
versus
innovating,
on
top
of
them
enough
to
actually
make
them
useful
and
no
longer
a
meme,
but
a
new
data
structure
that
people
want
to
use.
B
For
us
I
think
it's
about
interoperability,
interoperability,
where
they
come
from,
where
they're
going
to
go
and
I
think
what
they
what
they
mean
to
people
like.
We
said
it's,
not
it's,
not
the
jpeg,
it's
not
the
the
pixels
and
what's
contained
in
it,
I
think
it's
what
it
means
for
people
and
just
just
with
like
current
market
stigma,
people
people
don't
want
to
talk
about
FTS
I'm,
going
to
Market
a
thing
and
it's
it's
nft.
It's
nft
that
you
start
losing
people.
B
So
when
we
kind
of
like
talk
about
the
way
that
these
clubs
are
gated,
we
just
call
memberships
cards.
We
don't
talk
about
nfts,
we
don't
talk
about
minting.
We
don't
talk
about
any
any
webview
really,
because
what
we
wanted
to
distill
down
is
the
value
of
that
technology.
Not
the
technology
itself
right
and
I.
Think
nft
is
definitely
the
technology,
but
what
we
want
to
convey
is
the
pragmatic
uses
behind
that.
A
C
Is
super
important
to
us.
Storage
is
super
important
to
us.
How
how
we're
sorting
those
sort
of
things
we've
launched
a
Marketplace
in
2018
and
no
one's
really
bugged
me
to
say
you
did
a
bad
job.
You
know
it's
it's
kind
of
telling
when
people
in
Discord
say
oh
where'd
that
go.
Oh
here's,
the
link,
it
still
exists,
whether
you
go
on
openc.
So
our
goal
is
once
you
mint
the
token
and
deploy
it.
We
can
shut
down
tomorrow
and
your
stuff
still
exists
when
it
comes
to
indexing.
There's.
Definitely
a
trade-off.
C
I
really
feel
like
the
indexer
doesn't
necessarily
need
to
be
decentralized.
It's
just
there
to
give
us
data
to
organize
us
with
where's.
What,
if
I'm,
going
to
go
check
in
in
an
airline
I
want
to
see
my
NFD
really
quick,
but
when
I
actually
go
to
and
that's
the
indexer,
that's
centralized!
That's
fine,
but
if
I
want
to
actually
check
in
you
burn
that
token
or
do
whatever
it
is
you
need
to
do
on
chain.
That's
the
validation
to
to
do
that.
I
mean
if
the
trade-off
is.
C
You
can't
do
everything
tomorrow,
General,
but
we
can
slowly
move
that
way.
As
long
as
the
chain
does
its
thing,
the
storage
is
there.
Then
then
we
can.
We
can
go
nuts
with
decentralizing,
indexers
and
all
right.
The
graph
I
know
is
kind
of
a
little
bit
tough
to
work
with
when
it
gets
into
scale.
So
we've
chosen
to
to
go.
Go
this
route
and
I'm
I'm
super
happy
of
all
the
decisions
we've
made
in
the
last
four
years.
We've
done
it
the
best
we
possibly
could
and
yeah.
C
Let's
off
we
go
nice.
E
I
agree
with
Chris.
Interoperability
is
a
huge
component
of
what
we're
trying
to
do
and
I
think
nfts
are
a
great
vehicle.
If
you
look
at
sweatcoin,
which
was
on
our
Marketplace,
you
get
to
earn
your
steps,
like
your
steps,
get
recorded
in
real
time
based
on
holding
this
nft.
That
is
the
definition
of
utility
for
having
this
nft,
which
is
the
vehicle
to
get
there
and
now
they've
created
this
vast
Community
around
this
incentification,
which
is
getting
people
in
shape.
Making
people
feel
good
and
creating
a
community
of
people
that
support
each
other.
E
To
further
this
dialogue
and
to
further
that
nfts
are
not
the
end
they're
the
beginning,
they
may
go
away,
they
may
transform.
They
may
become
something
different,
but
they're
that
first
integration
and,
in
that
first
step
into
basically
us
being
on
the
moon
and
I.
Think
that
working
with
companies
like
Kino,
who
are
going
to
help
revolutionize
their
industry
and
working
with
other
companies
like
sweatcoin
and
working
on
near
I.
Think
that
we're
starting
those
steps
very
strong.
D
Okay,
so
our
our
CTO
David
who's
somewhere
here
in
the
audience
he's
he
has
a
mantra
that
he
uses
with
his
team.
We
only
build
things
that
are
usable,
viable
and
feasible,
and
so,
when
you
say
what
do
you
sacrifice
because
we're
using
web
through
technology?
The
answer
is:
nothing
in
fact.
We're
going
to
sacrifice
anything,
it's
going
to
be
the
friction
of
web
3,
but
we're
going
to
abstract
that
away
or
remove
that
from
the
system
until
we're
ready
to
introduce
to
introduce
that
to
the
users.
D
Filament
television
is
a
240
billion
dollar
industry.
There
are
billions
of
users
of
entertainment
and
so
for
us
to
sit
here
and
think
that
I'm
going
to
put
a
ton
of
friction
in
our
users
faces
and
just
hope
they
figure
it
out.
It's
something
that
we
will
never
do
as
a
company
instead,
and
we
have
this
workflow,
you
can
go
through
by
an
nft
which
we
just
like
Chris.
D
That's
great,
you
know,
and
so
I
think
it's
it's
finding.
You
know
we
talk
about
Progressive
decentralization
in
the
near
ecosystem.
Web
2.5
I
think
it's
finding
that
good,
hybrid
mix
between
slowly
progressively
showing
users
the
future
is
bright.
Blockchain
is
actually
empowering
you.
It's
protecting
your
rights,
it's
making
things
possible
that
weren't
previously
possible,
but
not
putting
too
much
in
people's
faces
that
they
shut
down
and
they
get
scared
and
then
they're
not
using
our
products,
because
then
we're
not
actually
doing
anything
for
the
whole
web.
Three
ecosystem
in
general.
C
Right,
one
more
thing
to
add
to
the
interoperability
okay,
so
we
should
feel
super
proud
on
near
that
we
have
over
2
000
contracts,
interacting
with
each
other.
That
means
all
of
these
folks
who
control
their
own
contracts.
Some
can
upgrade
some
can't
someone
who
lists
on
my
market.
Asac
I
can't
touch
their
Market
because
they
control
it.
I
just
found
out
on
Solana
their
entire
nft
ecosystem.
I'm,
pretty
sure,
is
just
one
smart
contract.
Let
that
digest
Mike.
You
have
metaplex
who's
able
to
update
everybody's
con
one
contract.
C
This
was
verified
by
dragos
who's.
The
DAP
radar
guy,
like
tell
me,
that's
not
a
huge
trade-off
that
we're
that
we
should
feel
super
proud
about.
So
I
I
encourage
everyone
to
research.
That
and,
and
prove
me
wrong,
I'm
happy
to
to
be
proved
wrong,
but
go
forth.
That's.
A
Yeah
on
the
topic
of
like
centralization
decentralization
I've,
always
been
kind
of
an
extremist
in
terms
of
ideals
of
blockchain
and,
like
I've,
been
pestering
my
team
about
something
that
I
like
to
call
Progressive
centralization,
where
you
start
off
with
a
really
bad
ux
UI,
where
everything's
slow,
but
it
reads
directly
from
the
chain.
We
don't
really.
We
don't
really
care
much
about.
A
You
know
we
don't
really
bother
much
with
storage,
because
our
because
our
nfts,
they
have
multi
multi
multimedia
capabilities,
you
can
just
read-
have
redundancy
built
into
the
nft,
so
you
can
go
our
weave
and
ipfs
and
whatever,
but
in
terms
of
just
reading
the
data
you
need
to
be
able
to
use
it,
even
if
all
the
indexers
are
offline,
even
if
all
the
centralized
and
Commercial
apps
are
offline,
even
if
everything
goes
down,
I
just
want
the
experience
to
be
bad
but
possible
and
so
then
add
an
indexer
on
top
and
have
your
app
check
if
the
indexer
live.
A
Yes,
okay,
then
take
that
data.
So
how
like-
and
we
all
also
know
when
you
have
a
especially
a
VC
invested
or,
or
you
know,
a
commercially
oriented,
startup
or
company,
the
goal
is
ultimately
to
exit.
The
goal
is
ultimately
to
be
acquired
or
do
something
like
that,
and
so
we
all
know
what
happens
to
those
companies.
They
usually
get
killed
off
by
the
competition
that
acquires
them.
E
B
Yeah
I
mean
when
you
create
that
data,
that
data
exists
and
persists
forever,
regardless
of
of
Niche
I
mean
it's
it's
yours,
it's
in
your
wallet
that
that
nft
belongs
to
yeah,
like
we
can't
take
it
away.
Specifically.
How
it
pertains
to
us
is
like
what
that
nft
grants
you
as
far
as
permissions.
So
as
long
as
there's
a
club
that
exists
that
isn't
structured
as
a
dow,
you
might
not
be
able
to
like
add
more
stuff
to
it.
B
B
I
think
that's
like
our
end
goal
right,
we're
starting
with
the
consumer
product.
Obviously,
but
our
our
end
goal
is
to
build
a
lean
protocol
off
of
that
and
then
be
able
to
whitelist
it
for
like
larger
groups.
So
like
power,
let's
you
know
like
the
Soho
House
app
powered
by
Niche
protocol
that
then
interoper
interoperates
with
all
the
communities
on
Niche
all
the
communities
that
are
also
powered
by
the
niche
token
awesome.
A
And
Nate
you,
you
mentioned
our
weave
as
your
starting
storage
provider.
Are
you
still
using
our
weave
yep?
Why
did
you
choose
our
weave.
C
Okay,
so
we
started
with
ipfs
obviously,
and
it
was
just
a
pain
in
the
painting,
the
ass.
It
was
the
the
final
Discovery
was
insane.
You
would
ping
a
thing
and
then
your
page
would
load,
maybe
in
like
eight
or
nine
minutes
like
one
one
minute
per
each
ping,
then
we're
like
okay.
Well,
what's
what's
pinning?
What
does
that
mean?
C
And
then
you
start
to
realize:
okay,
we
can
use
pinata,
we
have
to
pay
them,
but
if
we
stop
paying
them,
then
all
your
files
go
down
and
all
of
a
sudden
you're
like
well
hell.
Why
don't
we
just
use
firestore,
it's
the
same
thing.
We
pay
money,
we
keep
it
up,
it's
the
what's
the
difference
so
with
our
weave.
It's
definitely.
C
This
neat
endowment
mechanism
where
you
put
money
into
a
system
and
then
other
other
nodes
are
incentivized
to
basically
keep
your
stuff
up,
for
they
say
200
years
and
they
even
have
like
a
mild
gdpr,
compliant
Theory,
where
every
node
can
kind
of
say
where
gdpr
compliant.
So
if
you
want
to
take
it
down
from
our
node,
you
can,
but
then
it
sends
Eagles
and
everyone
else
goes.
Oh
man,
maybe
we
should
put
it
up.
It's
it's
a
it's!
A
fascinating
world,
yep.
A
Interesting
and
you're
feeling
reasonably
safe
that
you
know
it
won't
suffer
from
fate
like
Thea
or
you
know,
just
something
other
cataclysmic,
yeah.
C
It's
deep
but
another
point
to
what
if
we
go
away
tomorrow,
so
you're
messing
around
with
near
social
and
boss
and
those
sort
of
things
microchip
gnu
has
been
really
messing
around
with
that
that
stuff
fascinating
right.
It's
we're
creating
minting
applications
on
boss,
so
you
don't
have
to
use
mint
base
to
Mint
stuff.
We
can
build
the
exact
same
kind
of
mechanics
on
boss,
so
this
is
where
we're
like
cool.
C
We
have
mint
base
dot,
XYZ
or
you
can
go
do
stuff,
but
really
you
can
build
it
on
whatever
it
is.
You
want
it's
all
accessing
the
blockchain,
so
that's
that's
the
the
future
we're
jumping
into
and
getting
weird
with.
That's.
A
It's
to
me,
it's
a
very
clear-cut
picture
like
if
a
if
a
Creator
wants
royalties
we
give
them
royalties.
That's
it.
There's
no
like
this.
A
This
drift
that
you
know
people
keep
removing
this
in
order
just
to
get
users,
it's
to
me
quite
poisonous
for
the
industry,
but
it's
a
very
tricky
problem
when
you
go
further
than
just
a
flat
media
files,
because
when
you
have,
for
example
like
in
our
case
I,
don't
know
a
game
Avatar
that
that
contains
a
backpack
that
contains
a
jacket
that
on
itself
contains
a
patch
and
each
of
those
is
an
nft
contained
in
another
nft,
and
the
patch
has
a
different
royalty
and
recipient
and
percentage
than
the
other
stuff.
A
You
can't
just
sum
it
up:
it
doesn't
work.
You
know
you
have
to
have
a
very
intricate
structure
of
how
to
define
this
in
a
way
that
won't
let
the
seller
of
the
Avatar
basically
rug,
the
designer
of
the
patch,
so
that
people
have
incentive
to
design
the
patches
and
still
get
royalty.
I'm
wondering
how
how
are
you
looking
at
the
royalties
of
just
generally
your
nfts
and
your
ecosystem
as
they
expend
in
functionality?
How
are
you
gonna
combat
that
current
anti-royalty
movement
and
also
spin
it
into
this
multi?
D
Well,
I
mean
like
the
example
you
just
gave
I
I
smiled
at
having
a
background
in
law,
because
that's
not
a
new
problem
right.
Lawyers
have
solved
that
many
times
now,
it's
very
expensive,
it's
very
inefficient.
It's
very
clunky
and
it
probably
would
have
been
100
page
contract
with
10
different
parties
involved
right.
So
the
dream
is:
how
do
we
work
together
with
my
background
in
law
and
your
background
in
engineering,
to
sit
down
and
say
hey?
D
How
can
we
create
a
templatized
contract
that
can
handle
10
different
parties,
10
different
royalty
streams,
and
it's
so
easy
that
you
know
my
little
sister
could
walk
off
the
street
design
a
patch
and
she
could
input
her
rights
into
a
smart
contract
without
having
any
engineering
or
legal
knowledge
right,
and
so
that's
the
future
that
we
need
to
build
towards
is
smart
contracts
that
are
natural
language
processing.
You
know
compatible
so
that
way,
normal
users
could
sit
down
and
I
can
say:
hey
I
created
this
amazing.
D
You
know
beautiful
piece
of
artwork
I
want
to
sell
it
and
I
want
to
charge
five
percent
royalties
and
I
have
the
ability
to
dictate
that
in
a
smart
contract
or
when
it
gets
more
complex,
business
teams
can
sit
down
and
figure
those
things
out
right.
So
that
that's
one
angle,
the
other
angle,
two
is
just
that.
D
We
don't
right
now
have
the
sort
of
meeting
of
the
real
world
with
the
web
3
world
right
and
so,
unfortunately,
we're
kind
of
in
this
in
a
tough
position
where
we
have
a
lot
of
tech,
that
is,
you
know,
saying
that
we're
protecting
rights
or
or
the
opposite,
unfortunately,
but
then
you
get
into
the
real
world
and
the
contracts
aren't
actually
matching.
What
was
you
know
put
on
chain,
and
so
that's
something.
D
We
also
need
to
work
hard
on
and
it's
something
we
do
as
a
team
is
every
single
one
of
our
assets
has
an
actual
legal
contract.
It's
a
PDF,
that's
attached
and
that's
just
an
intermediate
step.
Eventually,
all
of
that
is
going
to
be
put
into
smart
contract
metadata.
It's
going
to
be
put
into
Action
commands.
That
can
then
be
if
then
statements
that
can
actually
trigger
certain
transactions
and
responses,
but
we
are
nowhere
near
close
to
that.
D
Yet,
like
any
of
the
standards
in
the
nft
marketplaces
that
you
see
right
now
aren't
even
close,
and
then
we
have
the
competing
terms
of
service
like
in
Open
Seas,
for
example,
not
to
call
them
out
that
says:
oh
wait
any
of
those
royalties.
We
can
just
not
enforce
them
right,
and
so
we
have
so
much
complexity,
both
on
the
engineering
side
and
the
legal
side
that
we
need
a
lot
of
idealistic,
Visionaries,
I.
Think,
like
all
of
us
here
on
stage
to
sit
together
and
say
all
right.
How
do
we
solve
this?
D
How
do
we
make
it
technologically
feasible?
How
do
we
make
it
practically
feasible
and
how
do
we
keep
the
users
best?
You
know
foot
forward
and
the
creators
at
the
end
of
the
day,
I
would
argue
that
I
don't
think.
There's
an
anti-royalty
movement
generally
like
I,
don't
think
the
whole
world
wants
to
all
of
a
sudden
screw
over
creators.
D
I
do
think
that
users
don't
want
to
pay
a
ton
for
art
in
some
ways
that
people
want
to
get
a
deal
I,
don't
necessarily
blame
them,
but
I
think
that
people
generally
do
want
artists
to
be
paid
fairly.
So
for
us
we
bake
it
in
and
everyone
our
legal
contracts
and
our
technology
and
I
think
our
companies
just
have
to
leave,
and
we
have
to
show
that
that
is
the
right
thing
and
that's
what
the
market
demands,
and
you
know
users
will
follow.
I.
E
Think
the
goal
is
what
we're
doing,
which
is
empowering
the
use,
the
Empower
and
the
Creator
like
we're
writing
in
those
royalties
in
the
smart
contract,
so
as
law
as
legal
as
the
legal
services
catch
up
to
what
we're
writing
with
smart
contracts
and
we
can
work
hand
in
hand
realistically,
as
someone
who's
a
lawyer,
you
know
that
when
someone
writes
a
script,
they
have
a
bunch
of
legal
documents.
They
have
to
sign
that
says
they
wrote
This
original
Ip.
Now
we
have
a
smart
contract
that
goes
and
coincides
with
that.
E
As
this
contract's
changing
evolving
and
growing,
we
can
actually
and
with
a
programmable
nfts
as
they
grow
involved
as
more
people
get
cut
into.
We
can
program
these
into
the
smart
contracts
and
allow
the
contract
to
do
it
for
us,
which
is
what
we're
building
it
few
and
far,
which
is
why
working
with
someone
like
Kino
allows
us
the
opportunity
to
work
to
bring
the
legal
age
into
web
3
in
a
way,
that's
kind
and
not
problematic.
A
C
So
we
were
part
of
the
creation
of
the
standard
way
back
in
2020
Black
Box
dot.
Art
pushed
us
to
get
them
into
the
standard.
Our
theory
behind
standards
are
behind
royalties,
being
pushing
them
into
standards,
is
make
it
easily
accessible,
allowing
people
to
pop
it
in
there,
so
that
markets
can
easily
check
it
and
then
use
markets
that
obey
by
the
royalty
standards.
So
it's
you
can
use
it.
You
might
not
use
it.
C
We
also
have
one-time
split
fees
where
you
can
view
payouts
just
for
one
time,
not
the
reoccurring
times,
we're
very
Pro
royalty
enforcement.
If
we're
able
to
figure
out
how
to
do
it
in
an
interoperable
way
right.
Our
Marketplace
literally
just
figured
out
interoperability
like
four
weeks
ago,
like
it's
hard,
it's
super
hard.
So
now
that
we
have
that
we
can
start
thinking
about.
How
can
we
solve
this
problem
on
an
ecosystem-wide?
You
can
create
tooling,
where
you
can
send
an
nft
engine
thing.
I'll
shut
up
now,
I
think
we're
almost
done.
A
B
Yeah,
so
the
the
club
Owners
when
you,
when
you
would
start
your
club
decide
if
you
want
to
monetize
it
or
not,
and
you
can
choose
if
you
want
an
upfront,
an
initial
like
purchase
price
or
you
could
do
like
a
like
a
recurring
fee
structure.
If
you
want
to
have
like
dues
that
are
recurring
every
month,
basically
right
now,
that's
that's
all
we're
playing
with,
but
it'll
get
a
little
more
sophisticated
as
we
go.
A
Thank
you.
That's
all
the
time
we
have
for
today.
Thank
you
all
for
paying
attention
and
we're
all
be
around.
If
you
want
to
talk
to
us,
cheers.