Sport Entertainment Gaming Web3 - Mohamed Ezeldin Animoca Brands - SEG3 London

absolutely well pronounced

and Joe had a question that was better

than mine so let's go so Muhammad I

guess my main question is you know

everyone always talks about Mass

adoption and that's the place we want to

get to but for in sports specifically

we've seen most of the activations you

look at the man united drop 800 000

people engaged in the activation and

there's a billion fans ultimately is it

always going to be a super engaged Super

Fan who's going to be engaged by this

experiences or is it ultimately going to

be something that's going to be a matter

Mark have a mass Market feel I think

it's a really good question and I think

you look at the man united gun for

example I think the big issue is two

things it's communication and education

it's how many of those billion fans

actually knew about the problem and then

how many were passed out of the drop

because they're again a lot of United

fans let's face it I'm not in Manchester

they're all over the globe so it's I

think it's I guess the other side of it

is when we look at how things are

structurally designed right now it's

done in a certain way and it causes you

to think in a specific way well what

web3 does it really breaks down a lot of

the structures what we're in the phase

now of seeing what these new structures

look like and how people can engage in

completely different ways and normally

when we engage it's one way it's a

one-way engagement but what we have

three really allows us to do is for the

engagement layer to be in two ways so

what does that look like I don't

entirely know but I do know that because

it's a two-way engagement after that

this idea web one is read what web 2 is

read and write web series re read write

and own because of that ownership

element it's just it's people will act

differently once they understand what

ownership actually means and that's

where the education element comes in and

it's to talk about nfts they have such a

bad breath for cryptocurrency and such

Why

because it's people have been chasing

money it's every time the process goes

up it's a hype cycle

retail comes in I want to buy this token

I'm going to buy that token and

everyone's money me being one of those

when I first got into the space like I

came and I was given a Bitcoin white

paper I'm like being in mathematicians

like this solves the Byzantine General's

problem

it's go icos let me learn to

make some money let me put my

mortgage money in and oh I've lost

it now and I hate crypto or a lot of

people do but for me that also like my

entry point into like why did I lose

yeah and I learned but for a lot of

people it's just like

it's not lost money and I was gambling

this is a scam and then they forget

about it and then three four years once

the cycle repeats itself they start

seeing the money they've been is

actually worth something yeah they're

correct let me put more money in I'm

going to learn from my mistakes and I

make exactly the same mistakes again so

another side of it is crypto has about

reps where it has a bad rep because of

the actors that are in the space versus

the technology that's there and how old

is crypto what the Bitcoin white paper

is in 2008 the first block was mined

with January 14th 2009 so more of 2023

now so quick Masters at 14 and a half

years we've been around in 14 and a half

years we've just gone from basic

distributed Ledger technology in terms

of Bitcoin to ethereum two smart

contracts to see exactly a zero now

we're talking about interoperability or

talking about like Manchester United or

where this conversation started are

doing a drop where four years ago no one

wanted to touch crypto four years ago

all the big banks are like crypto is a

scam they will have they own I have

crypto trading desks they're all now

investing in the space so it's just been

an evolution over time and I think we're

still early from a technological

standpoint because the back can listen

frequently another issue why there's

negative conversations to crypto is

we're selling the technology how many of

us know how the internet works not many

we just know how to use it because it's

easy to access the internet same with F3

once we can make that accessible and the

same way chat gbt is so easily

accessible I sign in it might be a bit

laggy but I can still type and I get a

response web3 is not like that I need to

download the metamask I need to then do

a kyc on that exchange I then need to

send money to an exchange because I need

to take to convert that money into a

crypto I don't need to send that crypto

to my metal mask and then connect my

metal yeah it's too long yeah it's way

too long I guess my comeback to that

would be I guess the whole idea of we're

trying to get to a point where you're

trying to educate people but and but

then at the same time there's a ton

between trying to extract away the

complexity how do you extract away the

complexity but still get people to

understand the tangible value of

ownership because you still need to know

about how a mortgage Works in order to

earn something physical world so surely

we do need to educate people work that

the benefits of digital ownership to get

there so how do you like to square that

search so I think a lot of people have

mortgages don't understand how mortgages

I can agree yeah so I'm looking at the

confidence one people don't understand

how I'm working as well so but then

that's that's how big the challenge is

yeah but you want to understand how

something works when you have skill in

the game if I come into an ecosystem

let's say I'm coming into the web 3

equivalent of FIFA I unpack I don't know

Kevin De bruyne at his Peak and it's one

of seven cards and all of a sudden I see

this card is worth ten twenty thousand

pounds now I'm Gonna Learn yeah because

I'm motivated to do so because I have

something that has tangible value so now

I'm going to go through what I was

talking about before about

kyc on an exchange sending money sending

it I'm going to do all of that because

I'm going to make 20K yeah and then then

this will be like that's that live

bombing for some people for other people

again when we talk about this technology

in the metaverse that might be for us

it's definitely not for the older

generation it's for your gen Z it's for

your Millennials it's for I don't know

what Generations are coming after that

it's for anyone who's under 20 under 25

who's really tech savvy who really

understands the value of ownership is

moving away from Big Brands who

understands the power of community

that's what this is aimed at it's not

something that's good will we have mass

adoption in five years I think we will

or we have mass adoption where people

fully understand what's happening on the

back end in five years I don't think we

will they're two separate things will we

have that in 10 or 15 years I think

because the I guess the main subset that

the technology is aimed at is the

digitally native

I can't I have to disagree on the age

I'm taxation I'm much more than

what agenda I can tell you a lot more

listen I completely agree and I think we

need to turn the camera on you

you look at how the split in vote

happened anyone above a specific age

outright in general voted brexit and

everyone below a specific age outright

voted remain so there is that disparity

in terms of old school doesn't want

anything useful yeah in general one word

that I I like using in general because

that's the way I normally create value

through the years long term so I every

time I see nfts related so tokenomics

because you know head of Economics like

we didn't say that trigonomics implies

long term in general yes because value

ownership there may be case in which

ownership is instant and then I don't

care anymore but normally it means long

term and I think one word that was used

in the panel when I asked the question

about uh before the silly question was

We There was a self-inflicted damaged I

think the one you mentioned maybe not

carrying about user experience or trying

not to answer the question was one of

them and the other one everybody for the

money went short term but this is I mean

it's like Collectibles collectible means

long term by definition it's

real pressing

it's a number of things I think number

one you you made a good point is that a

lot of people go for the short-term gain

because it gives you that inflation and

price it allows it creates firmware it

allows more people to come in and it's

always like in my role so I have to have

some tough discussions sometimes it's

stakeholders in some of the decisions

you're making are great short term but

you're burning the long term uh the

longevity of this ecosystem because once

people get burnt and the value of in

that ecosystem goes to zero or goes

close to zero it's very hard they need

another cycle as a minimum to come back

but as a minimum and even then how many

products were around in 2017 2018 that

are not around it I mean the Chinese

ethereum Neo one of the biggest gainers

in the cycle in 2017 2018. no one speaks

about it now

Bitcoin cash is another one Stella

lumens is another one there's a long

list again that's when I go into crypto

I know prior to that in a previous cycle

when I wasn't as many tokens there were

some that was like this is I think ant

shares but I think answers became real

so maybe not but there were other other

projects and no one talks about them now

the only ones that have really survived

the test of time the queen ethereum if

we really look at it for those that have

been obviously wouldn't be here today

so uh so it's great that the people that

are still in this business are the ones

that believe in the long-term Vision

like you 100 and the one that are

building because less people are is

talking about experts have become more

generative AI expert but do you build

maybe a bit less and maybe funding is a

bit more difficult but you're still

building I think that's the core we have

to build again it's like our ethos it is

the open metaverse so you have to talk

about the automated versus Alliance like

we're one of the founding members of

that I had the um

what is my title within that I am the

I'm the chair of the token committee

okay within within that and really what

we're looking at is designing how a

vulnerable token would work within that

ecosystem how non-fundable tokens work

within that ecosystem but more so from a

reputation and governance perspective

because one of the big things and we

didn't touch upon this on stage but

reputation is a big thing and in web 2

you have your reputation from your CV

where you went to University in web 3 I

can be pseudo Anonymous or fully

Anonymous or I'm just a picture of a dog

or an aide or some funky character

drawing but what does that mean when we

talk about dowels again another buzzword

decentralized autonomous organizations

you have some projects that are trying

to go fully decentralized it's very

difficult to do that purely for for me

there's a number of reasons but one of

the main reasons is reputation how can

you give someone a vote on something

because they own the most amount of

tokens doesn't mean they're the best in

place to make a decision another

question that nobody wanted to answer

last year Dao seems amazingly anarchic

and great but immediately you see issues

big issues because uh have you been I

don't know in Italy we have reunion at

the condominium the meeting of the

people living in the same building yeah

that's a dial 100. it's a most up

place I've been in my life

sorry no no no no but I'll tell you what

so but then this is people think a Dao

is meant to be smooth it but based on

what you've said that's exactly what

that was meant to be it's meant to be

archaic it's meant to be with people of

opposing views come together and because

we haven't enough people proposing views

coming together whatever the solution is

it will be a better solution rather than

having yes people would I say yes we'll

do that yes we'll do that that's what

leads us to a lot of the problems we see

in today's day and age about getting too

political I think that's right but which

means that you will go like before

I don't know I think that was all the

future I think those are the future I

just think we have to be take it step by

step in the same way we have a product

roadmap we need to have a roadmap to

decentralization where it starts off

centralizing oh it's starts off with an

air of centralization where we're still

taking into account what the community

is saying an overtime decentralized the

ownership the community has over that

doubt and the solution could be a

balance between kyc and the

centralization or it would vary from

ecosystem to ecosystem the beauty of

those you won't have a dial that will

turn around if you're like in in in in

in in

um in the Roman times when the Rome was

under attack they voted one person to

come in as leader and see the last

person was was Julius Caesar we know how

that ended but it could be but then it's

really up to the collective to decide

what does democracy look like or what

does better so what does governance look

like because democracy is a form of

governance there are other forms of

governance as well and each dog can

choose what that looks like so what we

now have is is hundreds if not thousands

of experiments and every token economy

that's out there including the laundry

of design they're all experiments and

you just see what people associate

themselves with and what people don't

associate themselves with and we look

back and we learn a lot of what we do is

actually a lot of research and we try to

innovate as much as we can also we

research what other people have done

what's worked what hasn't worked why is

that the case what can we learn from

this and we take it from there like it's

multifaceted it's not just as easy as

this is how it works yeah yeah everyone

votes we're all going to make it what's

the best idea what's the best example of

our governance that you've seen in terms

of 2.20 specific examples so I think

apcoin is actually um or edcoin that was

a really interesting one

um you can argue that that the ayc have

the most active Community even if it's

lovers and haters there are hates their

Community where they still engage within

within the community and because you

have the active Community when Abe Queen

dropped what we actually saw was a rise

in holidays an insane Rising holders

even though it was seated within the

initial ape community and when the Dow

started off participation was actually

really low it wasn't that high was over

like a single digit percentages they're

having the the special counsel and the

steward I think I think as the vote

closed it's closing today if it hasn't

closed it's closing today and we've seen

a huge Surge and increase I mean I've

been on Twitter spaces as a listener

because listening to all of these

different candidates arguing while

debating why they should be the ones on

that Council so it's we're still early

and a lot of people think right it's

it's we're used to instant gratification

we're used to just like I buy something

I want it to 10x so I'm going to enter

it now I want to be fully autonomous and

fully decentralized it doesn't work like

that it's a depression

okay thank you thanks