0:08  
You are listening to social bees radio, where we put the honey in the honey pots. I'm your director rickster. And if you ever wanted to know everything and anything about web three crypto or NF T's, you're in the right place. So fasten your seat belt. Get ready. Let's get started.

0:36  
What the metaverse is expected to be the next level classification of the internet, right? Just like the internet is now, the metaverse will have many virtual economic models, but they will be powered by web three tools and platforms. These models will have their roots in financial services, gaming, or social media, get there will be a constant crossovers and interactions across these models as they coexist in the metaverse. So sometimes you're gonna not even understand and you know that you went over into something else. You might not even understand that you're in a game, you know, or you're part of a game, or that now you're doing some kind of sci fi movie, we've kind of touched on this already. Even just with the beads. Right, right. But I want to do a quick little review of something like social media and web two, you know, there are challenges that our people are going through constantly, you know, all the time right now, in web two, with specially social media. Every day, over half the world's population around, it's pretty much precisely 58.4% spend an average of two hours and 727 minutes on social media, yet the attention, the interactions, engagement, and the data gets monetized by a few centralized entities and their shareholders. It's completely misalignment and of incentives that lead to this one liner. And it's really the incentive. They're all for these centralized systems. Right, right, right. But this right here wraps it up. So if the product is free, you are the product. So let that let that let that sink in. Right. So that's what everybody thinks in social media. Oh, yeah. Well, it's all free. Yeah, it is. Because you're the one that's given it all the intention, the interactions, the engagement, and the data. You're the one that's doing it. All. Right. You think it's free? You're right, it is free, because you're the product. And I thought that was hilarious. That, that little, that little phrase, because it's it's so true. I mean, you know, we we have given, we have given them the kitchen sink, man, and now we're going to be able to kind of bring it back to where it should be. And that's what the people,

2:59  
I'm just, I'm just gonna make it real simple for everybody. You ever go to a ladies night, right? Back in the day? I do. Some ladies got in for free, and they drink for free. What was the product that night?

3:13  
ladies were the product. That's, that's why everybody came to the ladies. That's true. It's crazy, right? I mean, it's funny, but it's, it's, it's so true.

3:25  
Everybody sees that picture just to look for the what it is. But yeah, yeah, got your ranking.

3:31  
In the world of web three. We often perceive decentralized finance, game fi and social fi as separate verticals, or sectors. Right. The beginning of these subsets of web three happened at different times over the last few years. We started with defy Tim, that was one of the first one two summers ago, right. Even then it was it was before that a little bit more. But it really came in and that summer. That's when we all started, right. We're in about this two years now, everybody, but it's just it's just wild. But as the space evolve, and the metaverse concept matures, we are more likely to see them integrate into the metaverse experiences as horizontals. And I'm gonna, I'm going to explain the differences, right? All of these concepts are still in their nascent stages, and they're very beginning the very genesis of them. They use crypto to support their economic models. Most of the current implementations within defy game find social fire or standalone, decentralized application tax, however, that is that set the change in the metaverse becoming a part of the household, right, you're going to like I said, when I as we as we've seen build this out, you're going to see where sometimes you're not even going to know even to where I was surprised that the the these glasses that are going to be in are integrated into some of this with augmented reality. They're not that far away. It's kind of wild, you know? So, you know, it's just, it's just right around the corner. We need to understand why it's critical to differentiate, right? The capabilities of vertical versus horizontal. So when we look at gaming fi applications within the metaverse, we see that it's dedicated gaming experience that draws users into the metaverse, they play the game. And they leave the platform all happy and fulfilled and full of joy, right, because they smoke there, buddy. The same can be the case for defined social fi apps as verticals. For users who come to the platforms to perform defy transactions, or want to interact with their friends in Twitter, or Instagram like experiences. The apps are there as verticals, that's exactly what their standalone experiences, they come in, through social media tweet, do all that stuff, or they come in play fortnight, go ahead, blow up your buddy, and have some fun. They're standalone experiences, okay? But the metaverse is not just a collection of applications. It's more of a bundle of conscious and unconscious user experiences within a scalable economic model. The conscious experiences can be categorized as verticals, and the unconscious experiences as horizontals. So understanding the differences between conscious and unconscious experiences is essential for seeing how these applications interact with the members. Should they blend in? Or should they stand out? Right, there are going to be different tool sets that's going to work like that. Right? Let's discuss an example. Right, have a conscious and unconscious experience. Think about buying a $500 plane ticket for a flight to New York, you consciously did that you go and look at the prices, you go and sign you can go throughout through PayPal and pay you can go through Apple Pay, you can go through whatever your credit card, that's a conscious experience, you were going shopping it looked at it. Think about it on the flip side. Now, if a passenger walks into the airport, and that card, you just saw that that's what NFC is a near field communication. Say that was just on your phone. And as you went through the gates, right, your phone just paid for whatever you're doing. So you're walking through here, it says New York, right? You're going through, and it's just paying, because it just like I said, it's an unconscious experience, as you're doing it won't get through the gates to get on and off the plane. It's just paying the fees of what you need to get and do the do that. Right. Does that make sense? Absolutely. Kind of crazy. You know, because we're, we're getting pretty close to that. But that's that's kind of the difference. And that's kind of I just wanted to go into that a little bit. One of the key goals in traditional FinTech applications is to make performing financial transactions seamless, frictionless and as unconscious as possible. The same way. You don't have to compete with your friend or colleague in Call of Duty experience. The competitive spirit can be gamified through likes and views and on Instagram. And yeah, I know it is competitive though. Yeah, Call of Duty.

8:14  
So it's Instagram. They take the like button or the heart button off Instagram.

8:18  
They did. They did it was too competitive. But bringing it back to the metaverse, all three models defy game fine social fi will be embedded experiences. This is not to say we won't have meta versus like the other side where people come to play. But many of these technologies will be unconscious experiences making these web three models more horizontal embedded than verticals, standing out and standing alone as standalone unconscious, you know, just actually just sitting there, right? So it's pretty, it's pretty crazy that I mean, and again, you can see how early we are that's why we keep talking about earlier. I mean it's not none of them are like that

9:11  
You have been listening to social BS radio. When we put the honey in the honey pots. Make sure to check out our next episode of social BS radio. Till then signing off

Transcribed by https://otter.ai