GM. This is the Milk Road, the crypto newsletter that delivers exactly what the doctor ordered.
You know what they say, "A Milk Road newsletter a day keeps the doctor away."
Here’s what we got for you today:
Why everyone is wrong about the metaverse
Quick Bites – Visa drops an NFT collection, MoneyGram enters crypto, and more
Meme of the Day
WHY EVERYONE IS [STILL] WRONG ABOUT THE METAVERSE
Everyone is wrong about the metaverse.
That was the title of this Hot Take Gone Viral posted 369 days ago.
Hot take: Everyone is wrong about the Metaverse.
here’s my 3 part theory..
— Shaan Puri (@ShaanVP)
Oct 29, 2021
It went so viral that it even got Zuck's attention and he agreed with it.
He mispronounced “Shaan” as, “Someone”… but hey, Thread Chef Puri still got a shoutout from the King of Facebook himself. Momma, we made it!
Today, we’re gonna tell you why people are STILL wrong about the metaverse.
Now before we jump into the good stuff, let's give a quick recap of the 3-part theory:
1/ Most people think the metaverse = a virtual place. They're wrong.
2/ The metaverse is not a place, it’s a time. Yes, a moment in time.
3/ The metaverse = the moment in time where our digital life is worth more than our physical one. And it’s a slow change that's been happening for 20 years.
Just think about it… we used to be 100% focused on our physical environment. But that's drastically changed with every new technology.
TVs brought it down to 85%. Computers to 70%. Phones to 50%.
Friends went from neighbors → social media followers
Kids went from playing tag outside → playing Fortnite. (RIP to Man Hunt. Kids today will never understand)
Everything is going digital. And we’re only getting closer to that “metaverse moment”.
But people are still betting against it. And I get it.
Facebook lost $9.6b on its metaverse project & Zuck went from one of the richest dudes to just a rich dude
Decentraland & Sandbox metaverses have fewer people than my local Chess Club
Sure. That's all true.
But that doesn’t mean it's a total failure. Here are 2 "metaverse" trends we're noticing that could be cool in the future:
Digital shopping is already a huge part of everyday life (Confession: I know the Amazon drivers by their first names)
Now imagine an immersive digital experience on top of that. Instead of scrolling down your phone with your finger, you (aka your digital avatar) walk into a digital store & pick out your items.
Might sound crazy. But, it’s already happening.
Nikeland – metaverse that lets users buy virtual goods from Nike
25m+ visitors since it launched
Nike’s “digital sales” now represent 26% of its total revenue (mainly through digital experiences like Nikeland)
Even Lebron made an appearance in Nikeland earlier this year
And the number of brands entering the space is only growing. This year alone, there have been 4600+ metaverse trademarks filed.
Remember in school when they tried teaching us about the human body?
They threw textbooks full of pictures at our faces and expected us to learn.
Which is exactly why when someone asks me where my appendix is located, I just say I got it removed when I was a kid, so I don't remember. (it’s still there, somewhere)
Well lucky for the future kids, they'll have digital learning. Here’s what that might look like:
the Skeleton test sample that comes with the headset also looks incredible in AR https://t.co/BNu5Gl580C
— Lee Vermeulen (@Alientrap)
Sep 20, 2022
Pretty cool, right?
Now, I get it. Not everyone is gonna wanna wear a big headset all day long, looking like they're stuck in the Matrix.
But the reality is… we already spend most of our days in the digital world. Scrolling TikTok, talking over Zoom, playing Fortnite, etc.
And one day, some company will make smart glasses that sit in front of our eyes all day & makes the experience 10x better.
When that happens, you won't even call it the metaverse. It will be everyday life.
**Except pooping. You'll still poop IRL.
TODAY'S EDITION IS BROUGHT TO YOU BY TECHCRUNCH
Looking to stay warm during Crypto Winter? I got just the perfect place for you.
Miami, baby! Nothing but beaches, palm trees, and [overpriced] Piña Coladas. And next month there’s a special treat…
TechCrunch is running TC Sessions: Crypto on November 17.
Check out the hottest up-and-coming startups exhibiting at the show, and connect with some of the sharpest minds in crypto.
It’s gonna be jam-packed with crypto's top movers and shakers like:
Amy Wu (FTX) – “Bringing Crypto to the Crowds”
Flori Marquez (BlockFi), John Wu (Ava Labs) and Nikil Viswanathan (Alchemy) – “Fundraising in a Crypto Winter”
Katherine Dowling (Bitwise) and Justin Slaughter (Paradigm) – “Is Crypto Regulation Ready”
And guess what? You can claim a special 30% discount on a General Admission pass by registering here. All because you're a Milk Road reader!
GameStop launches an NFT marketplace on ImmutableX. People will be able to buy web3 games & NFT gaming assets through the marketplace.
Pick n Pay (South African food retailer) is now accepting BTC for payments. Pick n Pay owns 16% of all grocery stores in South Africa.
MoneyGram launches crypto purchases on its mobile app. Users can buy, sell, and hold crypto like Bitcoin, Ether, and Litecoin. International money transfers 🤝crypto.
VISA is dropping a World Cup NFT collection, “Masters of Movement”. The collection will feature 5 legendary footballers including Tim Cahill and Carli Lloyd.
MEME OF THE DAY
SAY HELLO TO PERCENT
That's a wrap for today, ladies & gents. See ya tomorrow!
If you want more, be sure to follow our Twitter (@MilkRoadDaily)
A ROADERS REVIEW
VITALIK PIC OF THE DAY
Presenting… Dr. Vitalik Buterin https://t.co/jAVa9rDxBQ
— The Milk Road (@MilkRoadDaily)
Nov 2, 2022
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.