MTV for the Metaverse w/ SuperMassive | Overpriced JPEGs #60
β¨ SUBSCRIBE TO THE OVERPRICED JPEGS CHANNEL β¨ https://bankless.cc/jpegs ------ π SUBSCRIBE TO NEWSLETTER: https://jpegs.banklesshq.com/ ποΈ SUBSCRIBE TO PODCAST: https://availableon.com/overpricedjpegs ------ BANKLESS SPONSOR TOOLS: π LEDGER | NFT MARKETS https://bankless.cc/LedgerOP3N π BUENO | CREATE NFTS WITHOUT CODE https://bankless.cc/Bueno π COINSHIFT | TREASURY MANAGEMENT https://bankless.cc/Coinshift π SINTRA | NFT SOCIAL NETWORK https://bankless.cc/Sintra ------ Timestamps: 0:00 Intro 5:43 SuperMassive's Thoughts on Leaving The Defiant 7:08 Launching Based AF 13:30 What Makes Based AF Different? 18:32 Betting on the Metaverse 21:03 Creating MTV for the Metaverse 25:45 Why SuperMassive Chose to Take VC Money 29:09 Getting 1 Million Subscribers the Right Way 30:20 SuperMassive Breaks Down His NFT Drop 33:32 Rewarding Your Fans for "Work" 36:58 Why Is "1 Million" the Magic Number? 38:25 More Details on Based Heads Launch 40:14 SuperMassive's Approach to Royalties 42:25 An Answer to the Zero Royalties Controversy?! 55:33 The Argument for NFTs 57:08 Benefitting the Audience 1:02:38 How Mr. Beast Employs Web3 Tactics in a Web2 Market 1:05:34 Why Value Extraction is Actually Good for Fans 1:08:31 Thinking Like an NFT Project (Without Being One) 1:10:09 The World of Based Heads 1:10:53 Getting Technical 1:17:40 Choosing Unity or Unreal (or Both) 1:20:28 SuperMassive's Take on "Storytelling" NFTs 1:25:33 Outro ------ Resources: SuperMassiveβs Twitter: https://twitter.com/IamSuperMassive Based AF Site: https://based-af.com/ ------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
MTV for the Metaverse w/ SuperMassive | Overpriced JPEGs #60
ROBLOX and Rabbit Warrens
In this section, the speakers discuss investment opportunities in ROBLOX and Solana's Rabbit Warrens.
Investment Opportunities
- The speakers discuss the potential of ROBLOX as a 20 trillion dollar opportunity.
- They also mention an investment opportunity on Solana called Rabbit Warrens, which has a potential return of 1000x.
Features of Rabbit Warrens
- The speakers describe how one can buy a Warren on Rabbit Warrens and build land on it.
- They also mention that users can build their own Warren and have sex with bunnies.
Introduction to Overpriced JPEGS
In this section, the speakers introduce the show "Overpriced JPEGS" and welcome their guest, Supermassive.
Introduction to Show
- The speakers introduce "Overpriced JPEGS" as the topic for the episode.
- They welcome Supermassive as their guest for the episode.
Upgraded Studio
- The speakers mention that they have upgraded their studio but have yet to introduce sound effects.
Recognition at Crypto Conferences
In this section, the speakers discuss recognition at crypto conferences and being recognized by voice.
Recognition at Conferences
- The speakers talk about being recognized at crypto conferences.
- They mention that people recognize them by their voice and share an anecdote about being recognized in an elevator.
Supermassive's Next Chapter
In this section, the speakers discuss Supermassive's departure from The Defiant and his next chapter.
Departure from The Defiant
- The speakers talk about Supermassive leaving The Defiant.
- They mention that Supermassive made a video about Board Ape Yacht Club which still holds up.
Next Chapter
- The speakers discuss Supermassive's upcoming NFT drop as part of his next chapter.
- They also mention that he has interesting thoughts on royalties and the creator economy.
Storing Ledger Market and Bueno NFT Toolkit
The section discusses how to secure NFT projects via Ledger Enterprise, transact with a contract directly using Ledger Live, and use the Bueno NFT toolkit to launch digital collectibles on the blockchain without coding.
Storing Ledger Market
- Ledger Market secures NFT projects via Ledger Enterprise.
- Users can transact with a contract directly using Ledger Live.
- Follow Ledger on Twitter and join The Ledger open Discord for updates.
Bueno NFT Toolkit
- Bueno is an NFT toolkit that handles every step of the NFT creation process from generation to Mint.
- It allows users to load up their art layers, reorder them, tinker with rarity, and mint tokens on the blockchain with zero code.
- It offers advanced minting logic like linking allowless air dropping tokens and on-train royalty configuration.
- As part of their launch pad, users get access to forums to run surveys email collection and build pre-sale lists.
Departure from The Defiant and New Brand Based AF
This section discusses why the speaker left The Defiant 18 months ago. They wanted to marry where they wanted to go with staying at The Defiant but it became increasingly clear that Kami in her brand was crystallizing towards being the most trusted source for DeFi while they were leaning more towards entertainment.
Departure from The Defiant
- Speaker left The Defiant not out of any rank or anything else but because they had a feeling of where they wanted to go 18 months ago.
- It became increasingly clear that Kami in her brand was crystallizing towards being the most trusted source for DeFi while the speaker was leaning more towards entertainment and building a mass audience.
- Over the last three or four months, they have been raising VC funding to put together a new brand based AF.
New Brand Based AF
- The new brand is called Based AF and will be more targeted towards specific stories but more of what they did at The Defiant.
- They are not doing education like people would have expected from them. Instead, they are focusing on capturing people's imaginations in the same way as Mr. Beast Style version of web3.
- They want to tell stories that link to web3 and crypto but aren't necessarily always including it.
Moving from Quantity to Quality Paradigm
In this section, the speaker discusses how they are moving from a quantity paradigm to a quality one in terms of content production. They want to focus on creating more thoughtful and storytelling-driven content that takes risks and tells bonkers stories.
Quality Over Quantity
- The speaker wants to move away from a quantity paradigm and focus on creating high-quality content.
- They will still create social content and smaller pieces, but their main focus will be on big tentpole films with sidebars that peel off into their own bits of content.
- The goal is to tell the most bonkers stories possible that take them all around the world and put them in powerless situations while bringing their webstery audience along for the ride.
Embracing Storytelling
- The speaker believes that YouTube is maturing in weird and wonderful ways, with more thoughtful, storytelling-driven content being created.
- They want to take advantage of this trend by focusing on good storytelling rather than just throwing money at massive high-concept projects like Mr. Beast does.
- Their goal is to architect stories with payoffs, reversals, and other elements of good storytelling.
Pushing Boundaries
- The speaker wants to push the limits of human experience by exploring what can be done with new technology like the Quest Pro headset.
- They want to create experiences that are not just entertaining but also make people say "whoa" and leave them feeling amazed.
Balancing Creativity with Pace
In this section, the speaker talks about finding a balance between creativity and pace in content production. They discuss how they used to produce six videos a week but found that the pace was unsustainable.
Unsustainable Pace
- The speaker talks about how they used to produce six videos a week, which was an insane pace.
- They found that the sheer pace of it left them with no creativity left because just doing the creative idea was so exhausting.
Taking Risks
- The speaker took a break from producing content at such a high volume and started focusing on taking more risks.
- Their goal is to make more content while also being able to take more time to develop ideas and create higher-quality content.
The Metaverse and Meta
In this section, the speaker discusses the difference between their vision for the metaverse and other podcasts that cover it. They also talk about their approach to covering meta.
Different Approach to Covering Metaverse
- Other metaverse podcasts are either too niche or focus on investment opportunities.
- Speaker's team is different because they want to have fun with it, experiment, and be a source of entertainment for those interested in the metaverse.
- They align with Mark Zuckerberg's vision of building hardware products that lead to other hardware products.
- There is a lot of money being spent on the metaverse, but no one is really living it yet.
Coverage of Meta
- The speaker believes that open meta versions should be part of the conversation as well.
- Their primary platform will be YouTube since it seems to be pulling in Twitch streamers and TikTokers back at the same time.
- The creator economy and NFTs are also big subjects occupying their thinking at the moment.
The Future of the Metaverse
In this section, the speaker discusses the potential of the metaverse and how it can be a new form of immersive entertainment.
The Potential of the Metaverse
- The metaverse is a new form of immersive entertainment that has not been done well yet.
- It may take years before people fully understand and appreciate the potential of the metaverse, just like with 5G or 4G technology.
- Children will likely be the ones who rule over this first stage of the metaverse, so it's important to figure out what they like and create content for them.
Creating Content for the Metaverse
- As a media company, their goal is to corner attention and monetize it by creating content that blends virtual experiences with storytelling.
- They aim to be "the MTV of the metaverse" by creating a lifestyle brand within it and building products around it.
- Brand integrations will play a big part in their content creation strategy.
Attention Grabbing Entity
In this section, the speaker talks about how their company aims to grab attention through their content creation strategy.
Attention Grabbing Strategy
- Their main goal as an entertainment company is to grab attention and monetize it.
- They aim to create unique content that stands out from mass-market videos while still fitting within YouTube's platform guidelines.
- By focusing on niche areas such as the metaverse, they can connect brands with audiences interested in those areas.
The Metaverse as a Lifestyle
In this section, the speaker discusses how the metaverse will become a lifestyle and how their company plans to create content around it.
The Metaverse as a Lifestyle
- The metaverse will be a place where people live, work, and play.
- As creators, they need to figure out what lifestyle they represent within the metaverse and build products around it.
- Their first film will be brand-friendly to showcase what they can do with brand integrations.
MTV for the Metaverse
In this section, the speaker talks about how they want to create a platform that connects different content creators in the metaverse and build a galaxy of content under one basic idea which is metaverse positive. They aim to create an MTV kind of model for the metaverse.
Creating a Youth Subculture in the Metaverse
- The speaker aims to capture youth culture on screen just like what MTV did.
- There is a big overlap between youth subculture, NFTs, and crypto.
- The goal is to speak to this youth culture that will only get bigger.
Taking Risks in Content Creation
- Being a creator is mega risky.
- It's tough to take risks and make signature content without worrying about whether it hits the algorithm or not.
- VC money provides runway underneath creators and allows them to test their ideas in front of knowledgeable audiences.
Benefits of Taking VC Money
- VCs provide expertise and critique that can help creators improve their ideas.
- The VCs that the speaker went with are extremely knowledgeable about NFTs, tokenomics, and the metaverse altogether.
- Taking VC money gives creators a better chance at success than raising money independently.
Building an Audience with NFT Drops and VC Raises
In this section, the speaker discusses how conversations with potential investors can lead to new ideas and opportunities. They also talk about their plans for building an audience through NFT drops and VC raises.
Using Conversations to Generate Ideas
- The speaker believes that conversations with potential investors can lead to new ideas and opportunities.
- They explain that these conversations can help them connect with people who are interested in their work.
- The speaker notes that working with a Definer has shown them the importance of connecting with people and creating content that resonates with their audience.
Building an Audience Through NFT Drops and VC Raises
- The speaker explains that they plan to use both NFT drops and VC raises to build their audience.
- They emphasize the importance of doing things the right way, rather than just trying to be popular.
- The speaker notes that they want to create videos that showcase who they are as a team, rather than just following trends.
- They discuss how having a concentrated piece of the pie (i.e., being one of only a few creators in a particular space) can help them build an audience more quickly.
- The speaker trusts that by doing things their own way, they will be able to keep people excited about what they do.
Purpose of NFT Drop
- The speaker mentions that there is still an upcoming NFT sale happening.
- They explain that the purpose of the VC raise is to allow the NFT drop to serve its intended purpose.
- The speaker notes that the original plan was to raise all necessary funds through the NFT drop, but they were pushed towards VC raises due to receptive investors.
Building a Good Audience
- The speaker emphasizes the importance of building both a big and good audience.
- They explain that there are two parts to this: the super fan audience and the broader audience.
- The speaker references David Goggins as an example of someone who inspires them to keep going and build their audience.
Understanding the Value of Super Fans
In this section, the speaker discusses the importance of super fans in a community and how they can provide value.
The Value of Communities
- Communities are made up of different types of people, including flippers, fighters, and warriors.
- Only about 9% of a community is made up of true fighters who provide real value.
- VCs often talk about the importance of super fans in providing income for creators.
Creating an Entity for Super Fans
- The speaker wants to create an entity that represents super fans who participate in events and share content.
- These super fans would have specific jobs to do and be rewarded for their work.
- Paying these super fans raises questions about securities laws.
Navigating Securities Laws When Paying Fans
In this section, the speakers discuss how to navigate securities laws when paying fans for their work.
Engaging Subscribers on YouTube
- Mr. Beast engages his subscribers all the time in his content and pays them for their participation.
- However, there are concerns around securities laws when it comes to revenue sharing with subscribers.
Clarifying Work Terms
- If someone does actual work and it is clarified as such with clear terms, there should be no issue with paying them.
- It's important to be careful but fundamentally possible to pay people for their work.
Using NFTs to Create Stakes and Involvement
In this section, the speakers discuss using NFTs to create stakes and involvement in gaming communities.
Joystick Company Example
- A company called Joystick is starting up which allows players to stake their real NFTs in games for prize money.
- This creates more involvement from players and tightens the relationship between players and the game.
Building a Community in the Metaverse
- The speakers want to build a community that shows up for events in the metaverse and is incentivized to participate.
- They recognize that cool things happen in virtual worlds like Decentraland, but often no one shows up.
- The goal is to create an army of people who will watch videos all the way through within four hours of them being uploaded.
The Creative Economy and Web3
In this section, the speaker discusses the potential for web3 to create a new creative economy where being a fan could be someone's full-time job. They also talk about the challenges of tracking engagement and connecting web2 data to web3 data.
Potential for Web3 in Creating a New Creative Economy
- Being a fan could be someone's full-time job in the new creative economy.
- Web3 can create tools to make this possible, but there are challenges that need to be addressed.
- Tracking engagement and connecting web2 data to web3 data is one of the challenges.
Importance of NFTs in the Creative Economy
- Having an NFT with its own life, community, and visual representation is important.
- The speaker mentions creating a cool collection of proper artwork that will be issued as 3D files that you can take to your metaverse of choice.
Teasing Future Plans
In this section, the speaker talks about their upcoming plans for promotions and events related to their NFT drop. They also mention their goal of reaching one million subscribers.
Upcoming Promotions and Events
- A promo film for the drop will be shot in November featuring live-action actors.
- Challenges will be available for community members after the drop with rewards for those who do well.
- The first event will happen in December after the drop.
Goal: One Million Subscribers
- The speaker mentions their goal of reaching one million subscribers.
- They also discuss the challenges of recurring revenue and how royalties may not be enforceable on-chain.
Recurring Revenue and Royalties
In this section, the speaker discusses the issue of recurring revenue and royalties in the NFT space. They mention that royalties may not be enforceable on-chain and suggest other ways to generate recurring revenue.
Issues with Royalties
- The speaker mentions that royalties may not be enforceable on-chain.
- They suggest that initial drops may need to be more expensive if factoring in royalties as part of projected earnings.
Other Ways to Generate Recurring Revenue
- No specific bullet points provided.
Enforcing Royalties and Paid Reveals
In this section, the speakers discuss the challenges of enforcing royalties on tokens and explore the idea of a paid reveal as a way to generate revenue before revealing an asset.
Paid Reveal Idea
- The concept of a paid reveal is introduced as another opportunity to generate revenue before revealing an asset.
- The NFT is just the token itself, so giving buyers the token and offering them a discount on the artwork if they pay full price for it could be an option.
- The idea of treating it like a subscription service is discussed, where buying at full price gives access to private Discord channels and other perks.
Challenges with Revealing Tokens
- A potential issue with not revealing tokens is that buyers only have access to trading activity and no perks or artwork.
- If someone sells their NFT to a new owner, it becomes revealed, but enforcing this can be tricky without penalizing every transaction.
- Transferring tokens from one wallet to another can also create issues.
Separating Traders from Super Fans
- By rewarding super fans with valuable perks, such as access to private Discord channels, creators can separate traders from super fans.
- For artists creating art for art's sake, revealing their work would be necessary for buyers who want to own it.
The Power of Royalties in Ticket Sales
In this section, the speaker discusses the use case for royalties in ticket sales and how it can benefit artists and their management companies. They also explore the idea of using NFT tickets that require activation and a fee to use.
Royalties for Ticket Sales
- Royalties are powerful in ticket sales as they allow artists and their management companies to earn a cut from resales.
- NFT tickets could be used where users have to activate them before use, creating a mechanism for earning royalties on resales.
- There could be a fee associated with activating NFT tickets.
Junior and Senior Tranches
- Junior tranches can earn more interest but are volatile, while senior tranches have fixed rates of interest.
- Separating trading activity from true utility is interesting.
Limitations of Restricting Access
- Restricting access creates a class system and limits engagement.
- Echo chambers can form when smaller limited channels are created.
Creating an Inclusive Community with Revenue Sharing
In this section, the speaker explores the idea of revenue sharing within an inclusive community. They discuss how it could work and potential challenges that may arise.
Fair Market Value
- Starting with fair market value, setting initial prices lower than that, and being clear with the community about what something should be worth could work.
- Being clear about wanting people in the channel is important.
Holding Fee
- A holding fee could be implemented similar to Lars Seier Christensen's research on land assets.
Holding Tax for Unproductive Land
In this section, the speakers discuss the idea of a holding tax for unproductive land and how it could be enforced.
Enforcing a Holding Tax
- A recurring tax on unproductive land could be viable.
- The challenge is enforcing it effectively.
- Communication and education would be key to getting people to buy in.
- A high percentage of people would likely participate if they understood the importance of being part of a bigger channel.
Multi-resource Assets and Withholding Information
This section covers multi-resource assets and withholding information related to unrevealed NFTs.
Multi-resource Assets
- Multi-resource assets are NFTs that can be upgraded to contain additional items or collateral.
- The problem with these assets is that if an NFT is unrevealed, access to any associated resources is withheld.
Withholding Information
- If there's a system in which information can be hidden or withheld, someone will find a way around it.
- It's better to focus on where the value actually lies rather than nickel-and-diming the community.
- Super fans are often willing to pay high prices for exclusive access or ownership of artwork.
Connecting Airdrops and Quantum Entanglement
In this section, the speakers discuss connecting airdrops and quantum entanglement.
Connecting Airdrops
- The group dislikes when entities and their associated airdrops are disconnected.
- They believe that they should be "quantumly entangled" in some way so that their connection is clear.
Quantum Entanglement
- The concept of quantum entanglement refers to two particles being connected in such a way that changes made to one particle affect the other.
- The group suggests that airdrops and entities should be connected in a similar way.
The Value of Super Fans
This section covers the value of super fans and how they can drive prices up.
Super Fans
- Super fans are often willing to pay high prices for exclusive access or ownership of artwork.
- They are where the price is no object.
- It's important to focus on where the value actually lies rather than nickel-and-diming the community.
Hype and Testing NFTs on Mainstream Shows
In this section, the speakers discuss hyping NFTs and testing them on mainstream shows.
Hype
- The group suggests hyping NFTs as much as possible to generate volume.
- They suggest using Twitter spaces to talk about their ideas.
Testing on Mainstream Shows
- The group wants to test their ideas on mainstream shows.
Late Stage Capitalism and the Creator Economy
In this section, the speaker discusses how NFTs fit into late-stage capitalism in the West and how they allow creators to monetize their audience further. The speaker also introduces a third pillar of the creator economy, which is sharing the spoils with audiences.
Late-Stage Capitalism and NFTs
- Late-stage capitalism in the West is about squeezing more drops out of existing lemons.
- NFTs allow creators to develop a deeper relationship with their audience and monetize them further.
- This is because we are in late-stage capitalism where it's all about getting more out of what you already have.
Extractive Mechanics in Gaming
- Gamers historically felt screwed by game publishers' extractive mechanics that squeezed every last drop from them.
- The creator economy is professionalizing and scaling to massive heights, but audiences get a raw deal.
Sharing the Spoils with Audiences
- There are two pillars of the creator economy: building an audience and squeezing every last drop from them by monetizing.
- The third pillar is sharing the spoils with audiences, which means giving back to them for their support.
- Major creators are not looking at web 3 or NFT space because they don't understand it. It needs someone who can build from inception for it to work.
This transcript has limited content, so there are only three sections.
The Importance of Community and Experimentation
In this section, the speaker emphasizes the importance of community and experimentation in achieving success.
Key Points:
- The speaker believes that they do not have all the answers but rather a set of directions to follow. They emphasize that success is a process, not a product.
- Coin Shift is introduced as a treasury management platform for crypto businesses that need to manage their treasury operations. It offers multi-chain treasury features such as global user management, proposal management, and account reporting across seven chains.
- Coin Shift's platform allows organizations to save time and reduce operational burdens and gas costs by providing efficient multi-chain treasury features.
- Sintra is introduced as an all-in-one time saver for NFT investors. It offers real-time sales floor price tracking, Twitter mentions, wallet tracking, and customizable feeds of NFT activity.
Mr. Beast's Branding Strategy
In this section, the speakers discuss Mr. Beast's branding strategy and how he has built his brand around sharing spoils with his audience.
Key Points:
- Mr. Beast has built his brand around sharing spoils with his audience by giving away money every video.
- While giving away money may seem like the focus of his content, it is actually just a means to monetize his audience.
- Mr. Beast is an outlier due to his persistence in pursuing success while others gave up.
- Large creators could potentially unify distributed people around collective action to get recognized by the United Nations.
Balaji's Network State
In this section, the speakers discuss Balaji's concept of Network State and how it could potentially be applied to large creators.
Key Points:
- Balaji's Network State is a concept where a group of distributed people are unified around collective action and recognized by the United Nations.
- Large creators could potentially use their audience to create a Network State and get recognized by the United Nations.
The Value of NFTs in Late Stage Capitalism
In this section, the speakers discuss the value extraction piece of NFTs and how it is a two-way street. They also talk about the importance of creating value for the holder and not being dismissive of buying merchandise like t-shirts.
Extracting Value from NFTs
- The value extraction piece of NFTs is often dismissed as a scam to take people's money.
- However, it is important to note that it is a two-way street where brands or individuals can create more value for their fans.
- Starbucks, for example, offers unique experiences to its fans in exchange for increased loyalty and sales.
Importance of Creating Value for Holders
- It is crucial to create value for holders and not be dismissive of buying merchandise like t-shirts.
- Even within superfan communities, there will be those who are willing to buy merchandise like crypto punk t-shirts as an opportunity to express themselves.
- Tom Bilyeu makes a profound point that giving fans an opportunity to stand in line and prove their love for something is part of social signaling.
Evolving the Relationship with NFT Communities
In this section, the speakers discuss how they need to evolve their relationship with NFT communities by thinking like an energy project. They also talk about community expectations around airdrops and floor prices.
Evolving Relationship with NFT Communities
- To evolve their relationship with NFT communities, they need to think like an energy project.
- They need to consider community expectations around things like airdrops and floor prices.
Overall, this conversation highlights the importance of creating value for holders when it comes to NFTs. It also emphasizes the need to evolve relationships with NFT communities and consider their expectations.
Creating a Lifestyle Brand with Physical Merchandise
In this section, the speakers discuss their plans to create physical merchandise that aligns with their vision of being a lifestyle brand. They also talk about the challenges of finding appropriate apparel for extended periods in VR.
Designing Apparel for Extended Periods in VR
- The first film they are working on is forcing them to reevaluate what kind of apparel works best for extended periods in VR.
- They are looking to create a product that can be worn comfortably for 10-12 hours in VR, but have found that such a product does not exist yet.
- They are already thinking about what kind of material would be appropriate for such an apparel and how it fits into their vision of being a lifestyle brand.
Trash Land - A Vision for the Metaverse
- The speakers have created a vision called "Trash Land" which is essentially where all the rejects from the NFT space end up.
- This world exists within their larger vision of the metaverse, which they believe is currently an empty wasteland.
Technical Aspects of Building Bespoke Experiences
In this section, the speakers discuss some technical aspects involved in building bespoke experiences using game engines like Unreal Engine and Unity.
Building Sets and Environments
- To build bespoke experiences, one needs to use game engines like Unreal Engine or Unity.
- Building sets and environments requires knowledge of game engines like Unity.
Motion Capture Studio Timeline
- The process of bringing a character to life realistically involves lengthy animation, CG pipeline, and motion capture.
- The speakers are trying to reduce this process down to something that can be done quickly, like picking up a camera and shooting. They are building their own sets in Unreal or Unity and reusing them.
Motion Capture Studio
In this section, the speaker talks about the motion capture studio they have built and how it works.
Building the Studio
- The studio has a Lycra suit with infrared-sensitive balls that can be attached using velcro.
- Face capture is done using a helmet with a camera on the front that tracks faces in real-time and converts it into shape data for 3D modeling.
- Data is cleaned up and a smoothing algorithm is created to sit on top of it. Sliders in a custom interface allow tweaking of specific settings for each character.
Advantages over Other Systems
- Once built, it's easy to pick up and do again because the studio remembers settings and what was done there.
- The system uses multiple cameras, allowing for trapping props, having virtual cameras, and filming anything in real-time. It will eventually be like the Holodeck in Star Trek but building custom blueprints takes time.
Cost of Building the Studio
- A 20-camera system like theirs costs around 140,000 Euros just for the cameras alone.
- The computer to run everything costs an additional 20 grand. They paid for everything using airdrops from last year's season stuff that came through.
Unique Tech Investments
In this section, the speaker talks about unique tech investments they have made.
Investing in Unique Tech
- MKBHD bought a robot that he spent a quarter of a million dollars on which nobody else has. They considered their motion capture studio to be the same thing.
- They wanted to do something that nobody else could do, and it would take others a year to get where they are.
Technical Partner
- Before, they managed to find someone to run the studio but now they need another person. They have a Unity designer building stuff for them at the moment.
- It's difficult because Unity and Unreal Engine developers are in high demand.
Unity vs Unreal Engine
In this section, the speaker discusses why they chose to use both Unity and Unreal Engine for their project. They compare the strengths of each engine and explain how they complement each other.
Comparison of Unity and Unreal Engine
- Unreal Engine has a reputation for creating realistic scenes with light bouncing technology, but it requires high-end processing power.
- Unreal Engine can handle an enormous number of polygons to create rich textures in real-time.
- Unity is easy to build in and has good cinematic capabilities. It is better suited for reducing file sizes and optimizing for mobile devices and web browsers.
- Both engines are necessary because Unity is better suited for web-based experiences while Unreal Engine excels at creating realistic scenes.
Storytelling NFTs
In this section, the speaker discusses storytelling NFTs and their value. They express skepticism about the concept's utility and discuss some projects that are doing interesting things with storytelling elements.
Value of Storytelling NFTs
- The speaker expresses skepticism about storytelling NFTs, as nobody seems to understand what "story" means in this context.
- Some projects are doing interesting things with storytelling elements, such as MV3 which has a massive world with a huge story written by a TV writer who understands what story is.
- The term "story" has lost all meaning in this context due to overuse.
Final Thoughts
In this section, the speaker concludes the discussion and asks if there is anything else they should cover.
Concluding Thoughts
- The speaker concludes the discussion by saying that they have covered everything they wanted to discuss.
- They express skepticism about people's ability to build the next Disney or create a Roblox Cinematic Universe using NFTs.
Respect for the Community
In this section, the speaker talks about their respect for the community and how they hope to set a certain standard by doing their own version of it. They also discuss the importance of having a clear "why" when launching projects.
Setting a Standard
- The speaker mentions that they respect the community and hope to set a certain standard by doing their own version of it.
- They emphasize the importance of making sure that the art is good.
Having a Clear "Why"
- The speaker discusses how many projects launched without a clear "why," which was a problem during the height of the bull market.
- They mention that their focus is on giving super fans (the nine percent) an impetus to help make their videos go viral.
- The speaker emphasizes that they are not just an NFT company but rather a company with a clear "why" outside of NFTs, and they are integrating NFTs for the right reasons.
Feeding Energy Communities
In this section, the speaker talks about how energy communities need feeding and how they plan to constantly release new content so people won't get bored. They also discuss how integral their community is to their first big film.
Constantly Releasing New Content
- The speaker mentions that energy communities need feeding, and they plan to constantly release new content every two weeks.
- They will have temples as well as smaller videos in between to fill in gaps.
- They will also have YouTube shorts coming out constantly so people can be fed and always have something new to latch onto.
Integral Community
- The speaker emphasizes that their community is very integral to their first big film and what it will be about.
- Their goal is to bring the community into the story so they can be part of it and decide what happens.
- They mention that the first big film is a test to see if their model can work and if their community can come together to do something meaningful.
Easter Eggs and Actual Content
In this section, the speaker talks about dropping Easter eggs in conversations and on Twitter as clues for what's coming. They also discuss how people will understand their vision better once they start putting out actual content.
Dropping Easter Eggs
- The speaker mentions that they have dropped some Easter eggs in this conversation and on Twitter as clues for what's coming.
- They give an example of running 84 kilometers last week in five days as a clue.
Understanding Vision through Actual Content
- The speaker emphasizes that people will understand their vision better once they start putting out actual content.
- They mention that it's easy to talk in hypotheticals, but seeing actual content will make it more real for people.