The Metaverse will spur the transformation of massive wealth from grave to cradle via the blockchain, home to NFTs which revolutionise digital private ownership, and home to DeFi which upends legacy banking and finance. Indeed, Naval Ravikant’s prediction that 90 per cent of jobs on Wall St will be gone in several years is still on track.
Younger gens tend to trust and embrace newer technologies since they often grew up in such an environment where the internet was standard, so are more likely to have bought Bitcoin which became an integral part of the internet’s DNA some years ago when it was under $1000, and if they don’t already own it, stand to inherit more than $30 trillion in wealth in the coming years which will more likely be put into digital stores of wealth such as Bitcoin and owning a piece of the metaverse over something as archaic as gold.
Digital worlds as standard
The creation of digital worlds for the masses which simulates the physical world is accelerating. What started as an infinitesimal fraction in the early 1980s with the first role playing games for the personal computer and multi-player ascii games at 300 baud has been exponentially spreading globally, and now, is facilitated by blockchain.
There are no numbers nor letters
Human beings codify their existence to make it comprehensible. Words are oversimplifications of a deeper, holistic understanding. Words are often illusory. The magnitude of what is coming is therefore incomprehensible to most. Blockchain, AI, telepathic communication of which empathic communication is a subset, and life in the Metaverse are all still many hops away before a full understanding is reached. Until then, such possibilities remain largely unfathomable.
But as with all S-curve technologies, with understanding, mass adoption will come.
We have some of the sharpest minds on the planet driving colossal sums of capital that target young cryptocompanies. What was worth just a few billion dollars six years ago in 2015 is now a trillion dollar space. It will become, dare I say it, a quadrillion dollar space in time. But then I called for Bitcoin to reach $10,000 when it was still in its teens, then $1 million for my keynote at the Geneva WealthTech before it had broken $10,000 in 2017.
The asymmetrical upside is unfathomable. Not even counting its first year of operation, $1 invested in bitcoin in 2010 at an average cost of $0.007 is worth more than $60 million today. And it is just getting started.
Question: How many employees beyond the initial very few to launch the platform or maintain the front ends does it take to run smart contracts on DEXs such as Uniswap, Sushiswap, or Pancakeswap? How many employees does it take to approve your DeFi loan? How many employees does it take to maintain a Digital Autonomous Organization (DAO or DO)? How many employees does it take to operate peer-to-peer file sharing?
The platforms can continue to operate via p2p without intervention. This makes crypto orders of magnitude more efficient than traditional centralised organisations such as the tens of thousands of employees in traditional banking and finance. Coinbase alone has more than 1,000 employees.
Digitised, dematerialised, decentralised, demonetised, democratised, uncensored, secure
Crypto protocols enable services to happen with higher security and less cost. Meanwhile, equally efficient structures can be built on top of the new structures for added utility. The amount of productivity generated is already soaring but the end game is nearly incomprehensible. The impact on GDP will be immense and is the one white swan variable that can mitigate the catastrophic effects of record levels of debt and low interest rates as I have written in prior reports.
The price of bonds at the long end of the yield curve will rise as the expectations for economic growth rise.
Web 3.0 = The Metaverse
Web 3.0 is the foundational layer on which these technological developments will take place. We need clear regulation so countries such as Singapore can crunch through their growing backlog of companies waiting to take advantage of the blockchain-based cryptocurrency ecosystem. They all see the orders of magnitude in efficiencies gained by moving into such technologies.
Bitcoin versus crypto
Bitcoin is disinflationary thus is the perfect inflation hedge against the sums of fiat money being printed.
Crypto creates utility which boosts productivity which boosts GDP which boosts the price of the long bond which tames inflation as actual demand becomes a vibrant part of the ecosystem once again. Buckle up. We’re going into a new era.
(͡:B ͜ʖ ͡:B)
Dr Chris Kacher, bestselling author/top 40 charted musician/PhD nuclear physics UC Berkeley/Record breaking audited accts: stocks+crypto/blockchain fintech specialist. Co-founder of Virtue of Selfish Investing, TriQuantum Technologies, and Hanse Digital Access. Dr. Kacher bought his first bitcoin at just over $10 in January-2013 and participated in early Ethereum dev meetings in London hosted by Vitalik Buterin. His metrics have called every major top & bottom in bitcoin since 2011. He was up in 2018 vs the median performing crypto hedge fund at -46% (PwC) and is up quadruple digit percentages since 2019 as capital is force fed into the top performing alt coins while weaker ones are sold.