The Tokenist recently engaged in a quick chat with Radio Caca, creators of popular blockchain mini-game Metamon Island and United States of Mars Metaverse (USM), and Lou Kernercrypto advocate and CEO of Blockchain Coinvestors Acquisition Corp.
The Metaverse is Already Here and Will Grow Exponentially Over Decades
Radio Caca is the exclusive manager of the Maye Musk Mystery Box, Kiss Up Dogs, and Diamond Boxes NFTs. In October 2021, they launched the Metamon Island play-to-earn game on BSC and want to carry their Metaverse vision forward with “United States of Mars” (USM), a much more ambitious play-to-earn game.
Lou Kerner has been all-in with crypto as an investor, advocate, and community builder. Along with being involved in several cryptocurrency deals via his company, he is also a partner at Blockchain Coinvestors, a crypto “fund of funds”, and the creator of the largest crypto meetup group worldwide.
Our conversation involved the current state of the Metaverse, things to look forward to, and how the Metaverse could become a part of day-to-day life for billions worldwide in the coming decades.
Tokenist: Will scarcity remain a core tenet of the metaverse real estate market?
Radio Caca: Absolutely. That’s why Radio Caca Metaverse has a limited supply. We also believe there should be a balance between scarcity and enough supply. If the supply of one Metaverse is too limited, only very few users can enter, and there will not be enough economic activities. To make a Metaverse rich in events and parties, there has to have enough room for more users to get in. That’s why Radio Caca’s Metaverse supply is larger than most other Metaverse. That will also fix the problem of friction. We have a larger supply with a more affordable price for each land.
For the most part, land value in the metaverse is built-in by talented builders, creators, and designers of all varieties. Radio Caca’s Metaverse is built for PFP communities and NFT collectors to launch their art shows, community parties, and other events. We believe that being neighbors with mobile PFP communities and their galleries has more value than being neighbors with celebrities who may not be as invested in fostering their web3 community.
Lou: Real estate will always be limited. Domain names are scarce digital real and have proven to have real value I’m part of the MetaCollective DAO. We 23 plots in Sandbox next to BAYC and we’re building a University land that we think will be purchased on purchased over time.
Tokenist: Will making Metaverse land accessible be bad for Metaverse RE economics?
Radio Caca: Absolutely not! In fact, keeping the Metaverse and web3 accessible will be better because it would grow the market and applicability. That’s like saying making education, housing, or food accessible is bad for the economy for those industries.
Lou: Land accessibility helps people discover the land and can provide greater utility, driving value in the metaverse.
Tokenist: How do you see the future relationship between the Metaverse and NFTs? Does Metaverse adoption simultaneously require the adoption of NFTs?
Radio Caca: Simultaneous adoption of the Metaverse and NFTs is definitely required for web3 to mature. The symbiotic relationship between the two web3 applications will help to grow utility. NFTs are the “interface” for parallel digital worlds to transact values with minimum friction. Without the Metaverse, the utilities of NFTs are limited and vice versa.
Lou: NFTs in web3 are like websites for the traditional internet – they are the base layer of technology that can take many forms allowing infinite new ways of doing things in the future. As opposed to Web2, which has been dominated by FAMGA (Facebook, Apple, Microsoft, Google, and Amazon), Web3 the promise of self-sovereignty, and control of our own data. And all that will happen via NFTs.
Tokenist: What metaverse builder services do you anticipate to be most in-demand in the coming year?
Radio Caca: Most web3 teams want to develop AAA-quality blockchain games. They want the game to be fun, however, the cost is at least 300M US dollars to develop one with high-quality designs. We don’t think that’s going to be the most in-demand model in 2022 or 2023 simply because it is not sustainable for 99% of the PFP projects today.
We believe the Metaverse that can integrate with popular PFP projects (most have no tech team) with the lowest cost and fastest time are the most needed.
Radio Caca is able to help PFP teams create virtual fashion brands for hats, glasses, pants, shoes, socks, and other apparel for their PFP NFT holders. We will airdrop those NFTs for PFP (profile picture) to wear.
Most 2D PFPs only include a head and a top. The PFP holders can pick a pair of pants, socks, and shoes for their PFP so their PFP can be a complete avatar or even have pets in our 2D Metaverse.
Below is a sample rendering that we’ve built for one of “Boss Beauties” PFP.
The integration and customized development work for a 2D Metaverse the minimum value we can provide for creator teams. We can expand their NFT utility by developing mini-games for those PFP avatars or pets. (The capability is similar to the world wide web).
However, we offer an ecosystem endorsed by top rappers, fashion icons, and many Olympic gold medalists to endorse our virtual fashion brands. We have partnered with French Montana and American Olympic medalists to kick-start the community. We plan to partner with 100 Olympic medalists globally and other rappers and fashion icons.
On one hand, our 2D Metaverse is mainly for turning one PFP into avatars or pets in a 2D world. In contrast, our 3D Metaverse will create galleries for all well-known PFP projects. We can create 3000 galleries for 3000 PFP projects by the end of June. Our 3D Metaverse is mainly for NFT projects (PFP projects) to host art exhibitions, gallery displays, community parties, social networking, and business development.
We have NFT marketplaces for trading, a 2D Metaverse for PFP to be turned into avatars and pets as game characters, and 3D Metaverse for gallery and community parties. We believe a 2D Metaverse + 3D Metaverse + Massive NFT marketplace specifically for PFP projects in one ecosystem is much in-demand.
Lou: It will start. With traditional services including architects, fashion designers, and even mortgage banks. Over time, as the technology evolves, it will create new jobs that can’t be dreamed of today just like no one could have imagined SEO or social media managers in 1994.
Tokenist: What do you think the market cap of metaverse tech would be in 3 or 5 years?
Radio Caca: We cannot tell in 3 or 5 years. We do believe there is 10 or 100 times growth in the coming 20 or 30 years.
Lou: The Metaverse is the biggest thing to happen in the history of humanity. And like all new technologies, Amara’s Law will hold, which is the fact that the impact of new technologies is overestimated in the short term and underestimated in the long term. While I am a former equity analyst, I’ve only put out two price predictions in the last 20 years. As a former Wall Street analyst, one was on Facebook in 2012, which worked out well. The only other price target I put out last year, which is $1M for bitcoin in 2031.
Tokenist: How do you think blockchain projects will impact traditional industries?
Radio Caca: It absolutely will impact all industries. One immediate trend we have seen is a huge demand for smart contract security auditors, which didn’t exist before Ethereum; Hackers can now make more than a decent living through bounties.
Lou: It’s early to understand the impact of these technologies. That said, if you can have ownership of your digital assets and spend more time in the digital realm, the world will change at an early pace. There will be a lot of regulatory arbitrage. For example, with US regulations making it harder for crypto entrepreneurs, people will move to places with more accommodating regulatory environments (eg Portugal). You’ll also see lot more digital nomads.
Tokenist: What are the keys to household adoption of the Metaverse?
Radio Caca: Art culture and mindset. Everyone is using Twitch and TikTok, Instagram, and Facebook because it’s young and cool. It certainly wasn’t for lack of a learning curve. As art continues to adopt the Metaverse to advance culture, household mindsets will naturally adopt the Metaverse.
Lou: People have already adopted the metaverse. Interaction on their phones and iPads is already part of the metaverse. It’s just a matter of time before they will adopt web3 metaverse applications.
Tokenist: What does the future of the Metaverse look like for the average person?
Radio Caca: There will be many VR games readily available on the street, just like phone booths in the 90s, internet cafes in the 2000s, and smartphones in the 2010s. More people are already using VR games in the home as their daily workout as a utility rather than to show off on social media. Many PFP and land NFTs are already as “blue chip” and mainstream as Bitcoin.
Lou: There is the reality on one end of the spectrum and VR (eg oculus riff) on the other. Then there’s AR or mixed reality in between. I think everything in between is the Metaverse. And every day in the future, humanity will spend more time in the metaverse, and every day it will get a little more immersive. Social interactions will evolve. Communities will flourish without ever meeting in person.
Tokenist: What do you think of giant corporations making strategic moves involving the Metaverse (FAMGA, Disney, JPMorgan, potentially Microsoft, etc.)?
Radio Caca: They want to keep their market position. We don’t think they can be as dominant as they are today in the Metaverse sector. We believe there will be thousands of successful “blue chip” projects that will be far more successful in truly cultivating a culture in the Metaverse.
Lou: It’s simple. They have a fiduciary responsibility to their shareholders to lead the next tech revolution. But they’re not solving for the community. We’re in a battle for the soul of the universe between FAMGA and the community.
The Tokenist would like to thank Radio Caca and Mr. Kerner for their time and discussion on the Metaverse.
Do you think the Metaverse is already here and will be part of our daily lives very soon? Let us know in the comments.