A Trojan Horse is an object that looks inviting or desirable, but is used to smuggle something hidden that the receiver would not otherwise accept.
In the world of crypto, Bitcoin’s price action has been referred to as a Trojan Horse. In this case, buyers are first attracted by the historically rising prices of the digital currency, but by holding and trading coins, buyers are unknowingly legitimizing and organically promoting Bitcoin. Thus, its true advantages, decentralization, fixed supply and freedom from central planners, are further spread.
Recently, we see not only Bitcoin but other aspects of the crypto world being normalized and advanced into the mainstream, through which grows in a diverse band of Trojan Horses, each representing a different blockchain goal.
Crypto by Art
Go back a few years, and you wouldn’t find many people predicting that crypto technology could be taken for consumption through its connections with the art world, but that’s exactly what happened.
In the world of digital art, a critical component of NFTs is that they enable ownership and scarcity. There was a period when NFTs enjoyed an initial boom, in 2021, in which cynics proclaimed them pointless because one could simply right-click an NFT, and then save the image to one’s own computer for free.
Ironically, digital copying was one of the exact problems that NFTs solved. While online images are endlessly reproducible, now there could be, through NFTs, a definitive original: a token to which the artist deliberately attached his work, and which was verifiable, collectable and easily tradable. Such collecting and trading has always been possible with physical art, and now it was feasible in the digital realm as well.
Was it still possible to make copies? Of course, but it is also possible to make copies of physical art, and that is rarely a problem: original works of art do not suffer a loss of integrity or value due to the existence of copies. And now, with NFTs, these realities are being applied to digital art as well as physical art.
By providing on-chain provenance and enabling digital art markets (which are arguably more accessible and less elitist than traditional art markets, an unlikely arena) of artistic creativity, it is suddenly profitable to use the blockchain utility.
Check out this recent FMLS22 session on NFTs for Fintechs.
Crypto by Gaming
To date, the highest-profile crypto-gaming project has been Axie Infinity, which averaged two million monthly players at the end of 2021 and continued until around the middle of 2022. However, user numbers have since collapsed, and the product has been criticized. because being not much more than Ponzi-leaning means grinding out profits during a bull market, dressed up as a game.
As such, crypto has yet to prove itself to be useful enough for the gaming world, but it just looks to be a matter of time before a sustainable, high-quality product emerges, with a number of web3 gaming studios working on new releases. Currently, all eyes are on a web3 gaming company called Limit Break, and its DigiDaigaku project.
In February, Limit Break will release a set of DigiDaigaku gaming NFTs, and buyers will have to scan a QR code that will be shown in a commercial during the upcoming Super Bowl. This is about as high profile as an advertising/distribution campaign can get, and can be an indicator of the kind of presence web3 gaming can achieve.
It’s an approach that unapologetically uses NFTs to create community and hype, while remaining aware that games themselves are the ultimate goal, and if it can be pulled off then it promises, as with art-related NFTs, to unlock blockchain benefits to new users. .
Creating Web3 and the Metaverse
The uses outlined here are interconnected sections of a new arena. Art and design, gaming, commerce and online social interactions combine, with crypto at its core, to create a new medium, held together by the ability to exchange value without third parties.
Due to the importance of blockchains within this structure, and the payments these layers enable, this emerging building introduces cryptocurrencies almost under the radar, and ties closely to decentralized financial applications that themselves hum with speculative activity.
Nowhere else, except in crypto, is there such a mixed mix of influences and backgrounds, where discussion of yield farming and tokenomics overlaps with talk of art, anime and AI visuals. Throw in developers, poets and fashionistas, not to mention entrepreneurs and VCs, throw the whole package together with some extraordinary opportunists, and it’s a guessing game where this ride might take us.
Furthermore, factor in the still undefined impact that Machine Learning seems poised to create, and the future becomes even more unpredictable and open to rapid transformation.
What seems likely is that all walks and disciplines are influenced by and, to varying degrees, embedded in crypto in some form. Perhaps, ultimately, this emerging space, and the transactional methods it enables, is what we will call web3 or the metaverse
Some people expect a tech utopia, while others make more skeptical predictions, but most likely, as with almost all things, the reality will lie somewhere in the middle: an open, proprietary and ever-changing web that emits real-time reflection. of what we, the users, enter.
A Trojan Horse is an object that looks inviting or desirable, but is used to smuggle something hidden that the receiver would not otherwise accept.
In the world of crypto, Bitcoin’s price action has been referred to as a Trojan Horse. In this case, buyers are first attracted by the historically rising prices of the digital currency, but by holding and trading coins, buyers are unknowingly legitimizing and organically promoting Bitcoin. Thus, its true advantages, decentralization, fixed supply and freedom from central planners, are further spread.
Recently, we see not only Bitcoin but other aspects of the crypto world being normalized and advanced into the mainstream, through which grows in a diverse band of Trojan Horses, each representing a different blockchain goal.
Crypto by Art
Go back a few years, and you wouldn’t find many people predicting that crypto technology could be taken for consumption through its connections with the art world, but that’s exactly what happened.
In the world of digital art, a critical component of NFTs is that they enable ownership and scarcity. There was a period when NFTs enjoyed an initial boom, in 2021, in which cynics proclaimed them pointless because one could simply right-click an NFT, and then save the image to one’s own computer for free.
Ironically, digital copying was one of the exact problems that NFTs solved. While online images are endlessly reproducible, now there could be, through NFTs, a definitive original: a token to which the artist deliberately attached his work, and which was verifiable, collectable and easily tradable. Such collecting and trading has always been possible with physical art, and now it was feasible in the digital realm as well.
Was it still possible to make copies? Of course, but it is also possible to make copies of physical art, and that is rarely a problem: original works of art do not suffer a loss of integrity or value due to the existence of copies. And now, with NFTs, these realities are being applied to digital art as well as physical art.
By providing on-chain provenance and enabling digital art markets (which are arguably more accessible and less elitist than traditional art markets, an unlikely arena) of artistic creativity, it is suddenly profitable to use the blockchain utility.
Check out this recent FMLS22 session on NFTs for Fintechs.
Crypto by Gaming
To date, the highest-profile crypto-gaming project has been Axie Infinity, which averaged two million monthly players at the end of 2021 and continued until around the middle of 2022. However, user numbers have since collapsed, and the product has been criticized. because being not much more than Ponzi-leaning means grinding out profits during a bull market, dressed up as a game.
As such, crypto has yet to prove itself to be useful enough for the gaming world, but it just looks to be a matter of time before a sustainable, high-quality product emerges, with a number of web3 gaming studios working on new releases. Currently, all eyes are on a web3 gaming company called Limit Break, and its DigiDaigaku project.
In February, Limit Break will release a set of DigiDaigaku gaming NFTs, and buyers will have to scan a QR code that will be shown in a commercial during the upcoming Super Bowl. This is about as high profile as an advertising/distribution campaign can get, and can be an indicator of the kind of presence web3 gaming can achieve.
It’s an approach that unapologetically uses NFTs to create community and hype, while remaining aware that games themselves are the ultimate goal, and if it can be pulled off then it promises, as with art-related NFTs, to unlock blockchain benefits to new users. .
Creating Web3 and the Metaverse
The uses outlined here are interconnected sections of a new arena. Art and design, gaming, commerce and online social interactions combine, with crypto at its core, to create a new medium, held together by the ability to exchange value without third parties.
Due to the importance of blockchains within this structure, and the payments these layers enable, this emerging building introduces cryptocurrencies almost under the radar, and ties closely to decentralized financial applications that themselves hum with speculative activity.
Nowhere else, except in crypto, is there such a mixed mix of influences and backgrounds, where discussion of yield farming and tokenomics overlaps with talk of art, anime and AI visuals. Throw in developers, poets and fashionistas, not to mention entrepreneurs and VCs, throw the whole package together with some extraordinary opportunists, and it’s a guessing game where this ride might take us.
Furthermore, factor in the still undefined impact that Machine Learning seems poised to create, and the future becomes even more unpredictable and open to rapid transformation.
What seems likely is that all walks and disciplines are influenced by and, to varying degrees, embedded in crypto in some form. Perhaps, ultimately, this emerging space, and the transactional methods it enables, is what we will call web3 or the metaverse
Some people expect a tech utopia, while others make more skeptical predictions, but most likely, as with almost all things, the reality will lie somewhere in the middle: an open, proprietary, and ever-changing web that emits real-time reflection. of what we, the users, enter.
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