What do you know about the Metaverse?

If you enjoy these newsletters and think a colleague or a friend should read them, please get them to sign up on this page.

Do you remember all these financial analysts claiming that the internet is a fad, a bubble? How many huge enterprises shutdown for being to stiff to "go with the wave", how many people missed out on a big "wealth transfer event"?

This is happening again with the Metaverse.

You can scream and shout that crypto and NFTs are a scam but reality doesn't care about anyone's opinion.

Here are some things you need to know about the "new reality":

1/ Facebook will be changing its name and will hire more than 10000 people to build the Metaverse (or at least Facebook's version of Metaverse).

Google, Amazon and Microsoft are all building their Metaverse trying to capture as much of the "Web3".

2/ I wrote an article about why you cannot sell your NFTs. If you don't know how to make your NFTs, this is another article how to do it for free. If you don't know what an NFT is, here is a small intro.

3/ Decentralized Autonomous Organizations (DAOs)

The future of the work, the future of companies and the heart of a Metaverse is a DAO. A DAO is a bunch of algorithms that define the operations/rules of a company/team/country and people are responsible for the governance (by voting).

For example, a DAO can have 1000 members where all have chipped in to buy self-driving cars. These self-driving cars will be rented out, recharge on their own and the profits will go back to the DAO. A DAO can also hire people and pay them as a normal company. The difference is that all decisions are made by anonymous, fully remote citizens and are enforced by algorithms.

For example, the FlamingoDAO buys and sells NFTs. 1hive hires people to build projects that make more money for the DAO. OlympusDAO builds fully financial products.

A DAO doesn't need an HR department. You pick up any task you want, you complete it, it gets reviewed and you get your money. There are a lot of people working on one or multiple DAOs.

4/ Ok, let's take a breather because this was A LOT of information. One thing I learnt as an Entrepreneur trying to sell products to big customers is NEVER say that a new version or a new feature is coming out soon. You give them a "way out" to postpone their decision. You cannot come back from someone saying "oh, that's exciting! let's talk back when this feature is out".

5/ I recorded another Pitch Deck review and people are already interested in investing in this company. Check it out - a very good pitch deck.

Click here to see this epic video!

That’s it for today. See you next week.

-- Jon V (as in Victory)

- Thu 21 October 2021