Around the Block With Jefferson Nunn – Interview With David Fernandez

David Fernandez  12:54 

Yeah, so Well, there’s, I mean, you can see that the wants to know the space well, they actually investigating heavier right now in the bear market. So, for instance, Andreessen Horowitz, they just recently allocated about $400 million, I might be wrong with the numbers, but I think it’s 400 something million dollars just on a crypto fund specifically to fund crypto projects and protocols. And they actually did that recently, during a bear market. Binance also just allocated about half a billion dollars in the same thing as well. And that’s happening everything in a bear market. So, what that show is that people that are coming to this space, understand that this is a space that goes in cycles. And we are in a cycle where you’re actually supposed to be buying, not supposed to be selling and the ones that actually make it in a lot of ways. And if you’re in a space for a little bit, and you listen to some podcasts and some whales, you’re gonna realize that most of them tend to say the same thing, which is just survive, just stay in the space don’t go when things are boring when things go down, a stain his face build learn, and you’re gonna see the fruits of your labor in a bull market. So, from the managers perspective, I think it’s extremely new. There are still no use cases for it besides just pure hype. There’s a lot of applications that I can see that are that could be very, very changing in the especially right now, I would say probably gaming and also fashion, and just branding in general. So, what’s happening is that Adidas, Nike and all these different big companies are investing in the metaverse for only one thing, which is branding at the moment. They see that as the utility which is obviously very important. Other than that, I would see more, more applications and things that can be built on the metaverse probably in 2024 2025, especially with what’s coming into the space later this year, which is called SPT are so about Soul Bound Token, which is an NFT that cannot be transfer and what that allows users to have is that the opportunity to have a record on the blockchain on things that they have work or they have previous experience, I mean, you can use that as either resume, you can actually use that as a credit score for lending. Because that doesn’t exist right now you have to call, you have to put some collateral to get your loans. But now with that, you can actually build something that you don’t need to users to put collateral into your protocol, you can even give them loans, just like a bank would do. And you would, the criteria would be defined in the SPT. So that’s just a new use cases are going to come to fruition in 2024. Very likely probably even before. And I think it’s pretty, pretty important to getting early. So, understanding those use cases and understand how they can implement it. And yeah, that’s, that’s my thoughts on the NFTs and the market in general, I think that the things haven’t really slowed down for me at all. And for development in general, not even one date. A lot of protocols are still hiring heavily. I don’t know, other industries. But I know that this pays, even though some in some companies such as Coinbase, and 50x, they are slowing down, they’re hiring. They’re doing it just to protect themselves against something that could happen in Bitcoin, which is another crash, which is very likely to happen, we’re in a bear market. And that’s reasonable, they have to protect their bottom line. And the protocols, and all these different startups are not slowing down. They have funds from VCs, and they understand that this is a cycle thing, meaning that right now is the moment to build. It’s not in 2024 2025, with the start of Bitcoin, having specifically made 2024. The earlier you get here, the better. So, for instance, I’m just going to give you two examples of how important it is to get in early in getting in a bear market. So OpenSea was created in 2018. Uniswap was grading in 2018. Just goes to show that if you build something that is valuable, just so that you have some users that that can stick to your application, that means that you have something that’s valuable, because it’s standing the bear market. So, it’s right now as a place to get in, it’s not the place to get up. It’s not the time to get up. I meant sorry.