What’s Next in Web3 and How the Space Will be Impacted by AI

Desi Velikova

If you’ve been following what’s happening in work from blockchain, you’ve likely heard of Diego Borgo. Giga is a web front Metaverse, advisor and the co founder of BorgoLabs, a consultancy that helps companies position themselves in drive growth in the Web3 space. He’s the first person I’ve invited for a second interview in this podcast, because I really wanted to pick his brain and why we’re doing the dip. And when the space might recover, we discussed the reasons why web print blockchain have yet to become strong, independent industries. We also touched on some fresh new projects that offer real value, and export where the space is heading in the next few years. And of course, no podcast would be complete without bringing AI into the equation. That’s where things get really interesting. His perspective on this is really eye opening. Enjoy the next 40 minutes. And don’t forget to subscribe to our channels wherever you’re watching or listening.

Desi Velikova

Diego, a year ago, we sat here on this podcast, discussing the bear market hoping things gonna get better. And here we are. One year later, things haven’t improved much. We are still in the deep. What happened? I hold you personally responsible with what’s happening in the web three.

Diego Borgo

It’s my fault if it is my fault. To come back, yeah, I think that our industry is still and when I say our industry say web three overall, is still very immature when it comes to being sustainable. We’re stand alone. Therefore, the industry still very connected or closely connected with speculation and market cycles of cryptocurrencies. And that’s kind of like what I think that’s still holding us back a lot, right, because it tends to say that, yes, cryptocurrencies are part of blockchain. But blockchain does not equal cryptocurrency, right. And there is a lot that can be built and done with Blockchain technology that does not necessarily demands cryptocurrency to be part of it. But overall, since obviously, Bitcoin started that whole movement and technology, we still extremely connected and attached to the hype cycles. And, you know, if you look from a macro economy perspective, cryptocurrencies are not the only digital assets or assets, financial assets that are down the entire world economy from an investment perspective is down. So I think that, that plays a role, but doesn’t necessarily mean that in the future will always be like that, I believe in a future where cryptocurrencies will be a use case within Web three, what for whatever will come next as next iterations of the internet, but it will not necessarily dictate whether people will be using or not whether VCs will be investing or not, what are intrapreneurs going to be building or not, or a brand is going to be adopting or not, but I think we’re still not there yet. And you see that on, you know, the conversations, the market, capital investment, adoption, and other rates that, you know, we see every day,

Desi Velikova

right. So what can be the most significant changes in the space over the last 12 months? Has there been any major shift? from your standpoint,

Diego Borgo

we have seen a lot of negative news again, if you want to stick to cryptocurrency, FTX, Terra Luna, and many orders collapsing and unveiling a lot of the things that unfortunately, still being very pertinent in our industry. You know, again, on that sort of like cryptocurrency side of things, I think that from a web three overall point of view, we have been last year, throughout a very strong hype cycle, right from let’s say, mid 21, all the way down to end of last year, there was a really hype cycle within brands especially, right we if we look at Brands adoption, there’s 350 Plus brands within the fortune 500 realm that have done now something within Web three, or they identified as an a strategy that they’ve deployed within the web three space, and that displays one interest, but also displays the sort of like the hype cycle that we went through last year, because you know, a lot of them just had something because they wanted to have a headline or because they had to tick a box or just do an activation right from a marketing standpoint. So I think that that also has sort of like, brought a lot of attention to the space but not necessarily all positive because many of them have failed or many of them weren’t able to deliver against what they set themselves to and therefore become a became a little bit harder for them to keep pushing it forward. AI is undeniable the amount of attention that AI has received and he’s receiving. And, you know, a lot of VC money went down that direction, a lot of branding dress went down that direction, a lot of intrapreneurship development or building went down that direction. And sort of like, extra sauce to that, especially when you look into the US market or the American market, is the SEC, cracking down on cryptocurrencies and sort of like arguing around digital assets as a whole when looking to regulate a space where, if you look clearly what’s happening, they don’t necessarily seem to be very clear on what is being done. Therefore, there is a very big agenda on the back that, you know, it’s quite clear for us to observe, that is pushing directions, not necessarily because he has to, but because something else has happened in the back, right. So I think that that amount of, you know, things put together have brought us to a moment where I don’t personally think is negative. I think that where we are right now, from a development perspective is extremely interesting or extremely exciting. Because whatever you do in a bull market, is going to stick is going to be quote unquote, successful, especially from a financial standpoint, and is going to have traction, therefore, almost anything work and you don’t necessarily need to do the most deep or the most sustainable business models or project rollouts or go to market strategies in a bear is the opposite. Because when there is much less liquidity, or much more less interest, or much less resources available, things need to be much more thought through. And when things are much more flow through, then we started leveraging the actual possibilities or the actual opportunities that technologies like blockchain can bring to the table. So I’m excited again, about being going through another long bear market, you know, from end to end of 17, beginning of 18, to mid 20, early 21, we went through that. And here we are, again. And I think that the biggest difference of there and here is that we are dissociating more and more the overly space from cryptocurrencies only, and amplifying, to other use cases. And more than that, we see much more rails or, you know, almost like platforms or products being built to support mass adoption, because we talk a lot about mass adoption. But as soon more than, you know, 100,000 people or wallets, whatever you name it started hating networks at the same time, we see that we’re not ready for that, regardless of the chain you’re talking about. So there’s a lot of things that are fostering and enhancing and because now enterprises want to play within that space, right. So there is bigger money, there’s bigger compliance, there’s bigger, you know, things that needs to be done for them to bring their customer base to where to which, you know, we we quote in mass adoption moving forward.

Desi Velikova

You know, I’m really glad we’re past the speculative face of web three. When value was based purely on hype and on empty promises, you didn’t really know what’s going to happen with the project, it was all about how much trust you have in the team. And unfortunately, it was very disappointing for many people who believed in the space. And I think we are now seeing more and more projects that provide immediate value. And often so for real need, which is the most important thing when you’re building a product. Could you give me a few examples of companies that are truly succeeding in what and what their projects are? And like, I’ve heard quite a few examples of people coming to your podcast, right click save the world, everybody go and check it out. It’s really interesting. And I really like that you invite guests who have found a way to build and provide real value as opposed to just you know, jumping on the train and take advantage advantage of the hype.

Diego Borgo

Yeah, I mean, we are trying to show different angles, right. The idea there with the Bobcats is exactly the same. So how are super well established companies like folks bargain or you know, alo yoga or stablish agencies like Vayner tree from from, you know, the Gary Vaynerchuk Chuck rope, and even you know, really big fat leaders that have been around for a long time within otter technologies for example, like aI and trying to get their point of view on on things, right that sort of like the sustainable elements of that past the hype, as you just said. So that’s kind of like the mission there, right is, is bringing a conversation from three different or four different people that see the space or are part of the space from different angles and have different perspectives through experience. Right. So to your to your Otter Point, companies that are sort of like being successful word or developing something sustainable in this space. I think that is exciting to look at. I always look at the underdog, because everybody’s talking about Nike, everybody’s talking about Gucci, everybody’s talking about Starbucks. And I like looking more sort of like the underdogs, right, because usually, the ones that are not necessarily pushing too much sort of like the PR element of that are getting a lot of social attention. You know, because whatever strategy is being rolled out in the back, are the ones that interest me, because a lot of times they are router building, and letting results speak, then trying to you know, get everybody to talk about it. So I think red is red, it is a great example, I think that, you know, is a very clear rollout where they have a native audience that understands this space, and isn’t necessarily in it or some are, but they have full understanding of it. Right? Reddit has been building communities, because that’s the word we’ve been using, you know, for the last one and a half year, every time we speak for four years, right, they truly understand that concept. You know, they have played with avatars or assets, digital assets, that unlock certain areas of their product, or give people syndrome, certain benefits based on what they hold for years. Right is a superb established platform. And I think what what is interesting within their strategies that they went on, on putting a lot of that technology, not necessarily in front of the consumer. So I tend to say that the biggest mistake we’ve made as an industry in this first cycle of this first hype cycle was to look at the technology as the product, rather than the technology as the enabler. So all the time when we’re talking about buying an NF T, maintain an NF T, where’s the NF t here became the product, right? So if you think that the technology is the product, some people want to get excited about it, as a lot of people that are web to native or are on Twitter are excited about it. But it’s extremely difficult to talk to the masses within that message. Because we know really well that the average Joe doesn’t give a fuck about the technology. They like the experience, they like the way the way they that can benefit their life or make their life better. Right. So I think that looking from that angle, Reddit did a really good job on making the technology the enabler rather than the product per se, although obviously, you could still, you know, purchase the actual, digital collectible and so on. But they kept building on top of that, and I find that quite quite intriguing and exciting. I think that also there are a lot of other companies that are looking into the possibilities of tapping into their already existing audience rather than the web to native audience. I think that from a strategic point of view, that’s where a lot of those strategies hit a wall or a ceiling of adoption, because there isn’t a lot of people within the web tree that you could consider active, right? If you look at analytics, there’s about a million active wallets within that space. I have eight wallets. I don’t know how many you have. But I’m sure you have more than one. So when we drill down within that space, definitely is not a million people. Right? Very likely, we could put all those users in a building or any stadium. And that still sort of like the main audience that all those brands were targeting. Now, the question is, how can you reverse engineer the technology as the enabler and provide a better experience for your already existing customer base and fans, instead of trying to make that Frank Stein strategy, and even comps are allowed where a lot of brands got themself into to fit within an audience that became more and more difficult to connect with because they got super inspired because all of a sudden, everybody in the planet wanted to please them. So that’s the way I’m looking at that. Right? I’m looking at almost like a v one and V two of web three M and NF T’s right? The V one was back in December 21. When it does, will launched into the metaverse and uses NF TS as asset class right you can meet the revenue comes from maintain the secondary market gives you revenue, and that becomes sort of like the use case for NF Ts. And then Nike went on and purchased acquired an artefact and you Both brands doing those big moves within that space has sort of like kicked off the bull run for brands in web three. Right. And as I said before, fast forward to today 350 Plus brands have entered that space now. But still, that playbook is pretty much what they’ve took pages from or iterated on. Ride, majority of those brands have utilised that playbook. And the main use case for Dan was an FTA as an asset class. Right. So now that we understand that the market is not buying into it as much as they did, that now, there’s much more offered and demand now that the cycle within cryptocurrencies is obviously in a bear, as we just touched, and now that we see countries like the US going super heavy, on, on, you know, laws and sort of like regulation around that, what is the exit? Or what is the next better than x and what is the next step for Rennes. And that’s what I’m really intrigued and really excited about, because there is a need for a second playbook to start to be written. And there is a need for us to start looking to much more than just an asset class, and what else this technology can do for us.

Desi Velikova

And, and we kind of used to talk about this bridging the gap between web two and web three. And for some reason, majority of people from the industry have been focused on educating people. Wow, it is obvious that in reality, what they needed is not to be educated. They just wanted to experience it. They wanted to see you know, how this can enhance their experience as a user as a customer. And obviously, for businesses, you know, to open their eyes and see what are the opportunities in front of them. We sat here on this podcast with your friend Brenton nails, the CMO of smart token labs. And he shared the brand. Yeah. And he shared with me an example of an open loyalty programme they did with famous Australian cricketer Glenn Maxwell, I think is called Catch marks, where they engage 1000s of fans with their membership programme, without people people even realising that blockchain Tech was behind it. And that’s what we need, right? So we don’t need people to understand what this is, from a consumer adoption point of view. We need to convince brands, what is the opportunity in front of them, and how they can engage their friends better? Do you think that is the next wave that we’re seeing come from

Diego Borgo

100% 100%. And I think that when we say, we need to bring the masses to where we are, or we need to, like educate everyone, it’s contradictory. Because you don’t, you don’t need to bring customers where you want them to be, you need to meet where they are. And you need to simplify whatever you have in order to make their experience better period. Right? It’s not about bringing down where you are isn’t about educating them how to create a wallet, because in reality, if you think really at a large scale of seven or 8 billion human beings living in this planet, how many people actually will care about going through the journey of creating a wallet, because they really, really want to have ownership of their digital assets and all their money is going to get out of the bank and be on their digital wallets. And so on. The average Joe doesn’t care about that either. Right? I think that is extremely important that that possibility is there and exists. But I don’t think that everybody’s going to care about that. Right? So once you think from that angle is not about bringing them here and show the amazing things that we find that we’re really excited about because we care is about how do we meet them where they are at and how we solve challenges or tack or tackle into opportunities that this technology provides that before it wasn’t possible. Because a lot of times the most important thing is looking at the problem or the opportunity, reverse engineering the technology that solves it better and then deploying that technology against it. What we’ve done a lot within this industry so far is we need to do something with Blockchain. We need to do something in web three. We need to do something in the metaverse, we need to do something with

Desi Velikova

this obsession came from like plugging in terms like NFT web three Metaverse blockchain it almost felt like a coat so brands felt like they had to do something they must do something many of them different strategies that could be easily executed without the use of blockchain so why was everybody obsessed with this?

Diego Borgo

Is the hype the hype lines and the hype is happening with AI right now as well right I see left and right people like oh AI just killed Excel. Oh by by doctors either. Don’t need doctors anymore, oh AI is gonna take over the board and humans gonna be, you know, without any job and worthless like, is the hype is the attention, right? People want to have attention or brands want to have attention or people want to serve the hype without necessarily deeply understanding or spending time to understand, you know, the ins and outs and possibilities. So I think that that’s the simple answer is just, you know, getting blinded by the hype and, and fear of missing out. But going back to your point on on catch Max, for example from from his motto collabs, which, you know, it’s a great example of that, instead of trying to onboard cricket fans into the space, they took all the layers of complexity, and added things to that, that you cannot do with web technology today. And that’s what’s exciting, right. And that’s kind of like the, the first the first pages of that playbook we were talking about that displays exactly that, right, because what’s exciting within what they’ve done, but if you want to zone out to an overall strategy, what’s exciting about that, is that you’re not tapping to three things that are really important that every brand has, and every entrepreneur, you know, dies for the first thing is engagement, how do you generate more engagement and not just generating engagement? How do you prove engagement, right is extremely difficult to do that in channels that you don’t necessarily on. So you know, CRM or even your social channels and so on, is extremely hard to, to measure, but also to prove, you know, that sort of engagement in different channels. And within this technology, there is a very good chance that blockchain technology within that space can solve that problem, right? So imagine, we already have some solutions for that, for example, proof of attention, proof of presence, right? blopps, you can prove you’ve been to a certain place, geographically you are there, in when that event happened. You know, you can prove you’ve engaged with a brand you can prove, you know, in my masterclass for example, we have proof of attention, you go to a certain module, at the end of the module, you answer questions, if you got them, right, you get a pull up, that proves that you paid attention to the course therefore, you know, you went through that quiz, right. So, there’s different ways where you can start out proofing things digitally. That, you know, before, it wasn’t necessarily super straightforward or simple to do, because you didn’t have one source or one place where all those proofs could be sort of like connected that right. So, this is an exciting way to look at that. If you want to build on top of that initial idea of now, you are able to have those proofs of engagement and order proofs that is interesting for from a brand perspective, you can now start rewarding customers for their presence for their attention for their engagement for whatever they are proving to you, right. And imagine now that you can do that is extremely exciting, because you can look into perks and rewards or money can buy experience and you can start providing to them on which you can also bring that closer or together with your loyalty programme or your membership programme. Right. Now, he start tapping into another element, which is interesting, because currently, membership programmes are loyalty programmes have many holes that they are not able to solve with web technology. For example, integration of personal information or integration of data, right to partners want to engage with each other, unless you have, you know, you go through many hurdles of data integration to make sure that that experience is seamless, is extremely difficult to do, therefore becomes a big blocker on my brands don’t engage with each other in that level. Web three has a very strong potential solution for that we cherish smart contracts, as soon as you plug in an API in the back and you connect the two, it’s very easy to to sort of like have that, you know, data integration and enable that experience without having to touch any personal information without having to go any close to breaking any GDPR rules and any of that right, super excited. So as soon as you have now a way to prove something, and then you have integration, you can start driving much more attention to for example, already existing loyalty or membership programme through partnerships, right. So imagine if you could potentially prove to, let’s say, Nike, that you are a peloton, member and you’ve done an X amount of exercise. Now you can get that proof and go to a website like Nikes and prove to them that you’ve done certain things or you’re from certain tiers. And Nike can proactively look into ways on which they can reward and give you something you know as as a customer acquisition or as a you know, upper funnel type of mechanic that’s exciting because then you start leveraging that concept of open law, which is exactly what catch Max has, has set to prove as a use case. Right? Within that now you start doing the third thing that every company entrepreneur brand is looking for, which is driving growth, right. So you can grow your audience, you can grow engagement. And you can have a long tail growth within you know, that sort of like membership allowed space of, you know, revenue, and also different metrics that you can look at. So, what is interesting within that specific use case, you mentioned, and the way we could sort of like dissect it is that there is a problem today, within Web two technology that is being within a programme that is being to try to be solved through web to web technology, there is an opportunity of doing the things we just covered that web technology doesn’t necessarily is the best solution to do it. And there is a way on which web technology is really well positioned to solve it. So becomes almost like that perfect storm of here is a place where there is a clear use case, a huge opportunity, and a why this technology could solve it. And that’s where we should be looking more and more towards within sort of like V to playbook where we start really tapping into opportunities and business problems, and reverse engineering to see if this technology is in the best position to do it.

Desi Velikova

Right. I think what’s interesting is that the desire for change and for adoption, usually comes from CMOS, like even more junior people, we can organisation who struggle to convince their leaders leadership shape team, why they need to experiment and start adopting blockchain in web three, because the way you put it, it’s like so obvious, it’s a no brainer, but we still, you know, you can still see that adoption is very small. So what is your advice for people who are in this situation for struggling to convince their leadership team? Do you have any specific strategies or scenarios that have proven successful to get the ball rolling?

Diego Borgo

Yeah, I think that making it as not like, as not alien as possible is the way to sort of like, look at that, right. So the last, the last sort of, like v1, if you want to stick to that playbook analogy, it was very, very alien to everybody to understand, right? You needed to like run, I’ve done many of them, like educational workshops for brands, right, sitting with them explaining what’s happening, explaining what this is about explaining, why should they care explaining what the advantages are explaining why those words that people use mean, you know, explain the technology explaining different things, so was very alien to them, because they had to go into a space that they have zero understanding of, and the metrics that they usually use two are very different, you know, within that space, and, and also, when you add layers of deep technology, on a consumer facing activation programme, project, it becomes extremely difficult for you to sort of like convey a message without getting too much into the tech. Right. So I think that that alien element of those things has made it really difficult for people to get traction internally. And that has come a company, a company, also by the fact that we haven’t built yet, within this industry, that 1 billion pillar that you know, you have in many different industries, and I’m talking revenue that everybody can point to, and it’s super easy to benchmark on. Right. So I think we still in this transitional element on on which we are still trying to prove the value. But we don’t have something extremely tangible to point to. And the things that we had before, or we still obviously do is still very alien to majority of senior leadership, right? So the way I’m doing it and the conversations I’m having, and my sort of like strategy is exactly what we just talked about, right? So how do you make it less alien by tapping into their word that they are already used to, and make it simple for them to understand what the current problem opportunity is? Why the current technologies that are there are not the best suited for it, and why the technology that you’re presenting, has advantages over it and could potentially be the one that’s going to disrupt that specific, you know, industry pillar or problem or opportunity that you have. So that’s kind of the way I’m looking at that right and then you can obviously back that up. With zooming out and analysing consumer behaviour, right, if you want to talk about Metaverse, immersive experiences, virtual reality, augmented reality, immersive commerce and all of that, you can easily understand and make sort of like a clear line between, you know, customer behaviour today, especially from the younger generations, where they’re spending crazy amount of time and money within fortnight and Roblox, and then you can understand that as soon as that demographic starts getting older, the tendencies that they’re going to move closer to brands that they will fall, fall in love on the way. And if those brands understand that behaviour, and are able to tailor experiences within their already existing channels, or within their overall already existing strategy is going to be much easier for them to be well positioned whenever that shift starts happening. Right. So that’s the way I’m also sort of like trying to paint a clear picture and display that, you know, is not just necessarily about the now, obviously, but it’s also a longer term strategy, that what you’re doing now will have, you know, impact on the future.

Desi Velikova

No, absolutely. I want to shift your focus to something else. One trend I find really bizarre at the moment. Is AI cute web three. Where did this come from? What does it mean? And why do we need to compare the Matobo? What is happening? Just tell me I don’t understand.

Diego Borgo

It? Did it actually, I killed web three. And I’m just looking for something else to do. So if you have if you have anything else for me to do, please, please help me because web three is that and I have I have nothing. Nobody wants to hear any more what I have to say, okay, all the tension,

Desi Velikova

all the hype, now move to the next shiny thing. Right?

Diego Borgo

Exactly. It’s quite simple to understand, right? People that are very vocal about technology, especially with stakes like that are the ones that do not understand it. Right? Because simply put, we’re we’re building and reshaping how humans will engage with each other and interact with the digital space. Right? It’s going to be a consistent evolution is not, you know, it didn’t stay as it was in the 90s. He didn’t stay as it was in the 2000s you want stay as it is in 2023 is going to keep evolving and changing. And web three is the supposedly next iteration of that, right? Web three per se. As a wider concept, if you want is going in a simple manner. You have blockchain as the backbone you have, you know, Metaverse immersive reality, digital worlds as they interface and everything in between that, that being your mental reality, virtual reality defy decentralised finance, cryptocurrencies, you know, Blockchain or any, you know, even artificial intelligence are part of how we will evolve the internet, or evolve the way we connected digitally in the future. So, in a simpler even a simpler way, you cannot build a stack of technology just with one technology. Right? You build stack of technologies with many technologies, your phone has a stack of technologies that empower you to use your phone and go about your day to day life. The internet is the same right? When you go in on your browser or an app, every device has a stack of technology that enables you to do whatever you want to do or have a better experience, right? Therefore, looking from that angle, AI will be combined with other technologies that will enhance the future of how we experienced the word digitally. And thinking from that angle, as you said, is extremely bizarre to think that one technology can actually kill the elder because it’s rotted up as they get together to co create something bigger and is going to keep happening as it happens since the word is a word because technologies get together to make something better or worse, depending on how you want to look at that. But that’s that’s that’s kind of like the way I’m looking at this.

Desi Velikova

You know, I’m super interested in this topic in the potential of blockchain and AI cooperating, if we can call it this way to build like really more powerful superior products. And I have like a few ideas in my head of your how this could potentially evolve. And I’m really curious to hear from your point of view, what do you think would be some really interesting use cases that we’re gonna start thinking near future?

Diego Borgo

Yeah, I have almost like the, I have 333 thoughts that one is kind of like the, the now the next and the later right now is what can be done. Now that’s needed an exciting I think that when you think about problem or opportunities that AI will create, there will be spaces within it that blockchain is extremely well positioned to tackle. Right. Problem

Desi Velikova

Can I guess? Yes. So mine is proof of ownership. I think with all the fakes. And you know, all the ingenuity we see coming from Ai, I have the feeling that the power of blockchain will come with the proof of ownership.

Diego Borgo

There, I would say proof of provenance, even white white it up where it is, how can I know that the imagery of the Pope wearing the puffy jacket, or that Trump was arrested running in the streets of New York? How can I know that that’s real, and that or that’s fake, whenever that technology gets so good, which is already is but imagine when it gets perfect, that will be possible to distinguish, right? is a huge problem, as you just pointed out. And it’s interesting that I believe that the tokenization, or that sort of like proof of provenance, again, super simplified, not necessarily expecting people to understand and read blockchain and go on, you know, plays like either scan to check on chain activity, super simplified, super simple. Simply proofing, you know, that that image, the source is Getty image, for example, or the source is that photographer, or the source is CNN. And you can see a badge almost, or a validation element that displays you that indeed, it’s coming from that source from a brand perspective is the same, you know, we don’t know if you’ll remember, but when Elon changed on Twitter that, you know, you could verify you could be you know, be paid dollars and verify your handle a lot of people were doing that for brands, and they start sort of like, you know, breaking brands and putting messages out. And a lot of consumers get confused why that brand was saying that and so on. Now, imagine that at scale, through video or through campaigns that will be created maybe by by a competitor, maybe by a hater, that potentially will go everywhere. And people will think Oh, my God, like did McDonald’s did ray to say that that’s crazy. And you will never be able to sort of like stop that. Unless you have that sort of like, oh, no, that’s bullshit is easy. Here. You can see it’s not necessarily that it’s not true. Right. So that’s what can happen right now. Right? I think that that opportunity, is there. The technology is there, the problem exists? And I think that, you know, I hope there are people building against that specific thing, because I definitely think is a clear use case. The second thing I’m excited, which sort of like a little bit more on the next is we talk a lot, and that’s more technical. But we talk a lot about interoperability of different chains, or different matter verses or different experiences, which you know, today is extremely difficult to sort of like, bring A and B together into one place and make them talk or make them connect or make them simply coexist, right. And it’s becoming one of the hardest challenges that we spoke a lot about it since a very long time, within Metaverse, but also within the blockchain world, right? So you have all the bridges, you have all the sort of like this chain doesn’t speak with that chain. And this I said, cannot be brought to that chain, and so on. And I think there there is a really exciting opportunity to leverage AI as a way to co create and help building those bridges, specifically, from a coding perspective, right, specifically from from a development perspective, because I think that one of the strongest powers so far that I have seen, you know, especially with Chad GPT, is how developers have been either challenging or refining or reviewing their own code through AI, right. So I find that to be extremely excited. And if you want to talk about the later the crazy, the crazy shit, I believe that within the sort of like this next iteration of the web, we will move more and more towards a ward where every asset will be, will be tokenized. Right? So if you look at the amount of things that you own, on your daily life, on your on, on sort of like on the physical world, it’s incomparable to the amount of things that you truly on, or that you truly, you know, possess within the digital world. And I think that we will start seeing more and more that sort of like tokenization of things on the digital world, especially through web 3d, and you know, and those types of technologies that people now will be able again, to prove things or to own digital items, or to you know, just just sort of like, have tokens that you will display some sort of, you know, either ordinary ownership or relationship or anything with that, combined with the fact that you AI and everybody else that’s interested, we will have an agent, AI agent operating on their behalf to buy, sell trade as acute tasks or do things digitally on their behalf, it becomes really interesting to think about also blockchain technology because if I have an AI agent, and I want that AI agent to go and purchase a aeroplane ticket, or book a photo, or do things for me, digitally, that can be also microtransactions. I don’t believe that banks will support bank account for that AI agent to be able to transact with otter services, or otter AI agents or humans digitally, I believe that as simple as starting or creating a wallet, is gonna be the way on which there is a huge advantage for combining both technologies. So imagine your AI agent has a wallet, you put tokens on that wallet, cryptocurrency in that wallet, and the agent can go around and start, you know, acquiring buying, selling, trading, interacting with service products, and so on digitally. Now, when you look at those three pillars, more things going to be tokenized, there is absolutely clear trend that AI agents will become, you know, the sort of like advanced the bots in the internet. And they will demand or need a way to transact with the ecosystem or interact with the ecosystem. When you combine those three things together. I think that’s where really exciting opportunities can come along. I’m not saying that it’s going to happen now. That’s why I’m putting that as sort of like the next pillar. But I definitely think that that’s where there’s a huge advantage for those technologies coming together.

Desi Velikova

Super exciting. I’m a huge believer in tokenization, I want to see most industries being tokenized. And I can’t wait to see what’s in front of us. And before I let you go Diego, what do you believe will be the next significant wave in web three,

Diego Borgo

I think, I think, be careful what you say,

Desi Velikova

in 12 months time, you will be back here. And I’ll be checking.

Diego Borgo

Say that was full of shit. I think that what do we what do we need? What we really need within this space is that sort of like Google is lash chip at the moment, right. And what I mean by that is, if you look back at the beginning of the internet, especially when Google took off, you could go to a page, there was a bar in the middle of that page, you typed something, boom, a whole Ward would open up in front of you of information that, you know, you needed, zero explanation. And the simple, you know, simple action you’ve taken displayed an incredible result. Now, when you look at Chad deputy, and I’m following very closely, their go to market strategy is exactly the same. You create an account, either with you know, Google, whatever, or you just type your email you go in, there is a bar, you type something in and boom, an entire new world opens up in front of you. Nobody needs to explain you how it works. Anybody that is a little bit familiar with technology can just jump in and do it. Right. Now. If you compare our current ecosystem and the current experiences within the word we are at in what three? We are far from that. Right? So for me, the Google’s last chat chip at the moment is what’s missing within our industry. And the more towards that direction we can work and build and push the industry to the easier it’s going to get for everybody to come on and utilise it without not even understanding what is powering.

Desi Velikova

Absolutely. I think that’s exactly how charged up and oh the AI product sold the show is that we saw immediate value. It was practical, it was useful. It was helping people be better whatever they’re doing. We’re not seeing this necessarily so much with Blockchain. We’re seeing it but it’s not so widespread and it doesn’t make my life easier every day. So maybe that’s what what we are to see the aha moment for the blockchain space.