The Future of On Chain Experiences Through NFTs | Alex Salnikov - Rarible

nice okay we're live hello hello everyone my name is Alex uh salikov I'm one of the co-founders at rable and I'm Chief strategy officer and Lead product earlier there has been uh my colleague if get cot uh giving a talk if you have been here for a while and you heard that so we're going to speak about more or less uh close related topics and his topic was more Technical and I would actually prefer them to go the other way around so uh if you if you want you can get back and listen that after maybe that we'll have enough another another context for you so this is more like motivational part why why is it done why are we building this and in general why we are excited about nfts I know nfts are not the the the topic today on everyone's radar but it's it's great so um the topic is called the future of experiences onchain experiences through nfts hello hello thank you for listening me in this early hour okay just a second I'm just going to scroll on not sure why it doesn't work all right ns are back way back baby woo I know I know it's been hard since pretty much 2021 nft has been only down all the way down down and I think one of the lowest points was actually like August and and September and October last year since then we've been up the nfts are doing $50 million of daily volume and the lowest point was like 10 so we're five x from the bottom and I'm so glad it's feeling nice nfts are back while I have your attention here um if you would have just like one thought from this talk just Just one thought that you'll remember I want you to remember this so the thought is that if you'll take a comprehensive look at theend and the at the crypto Market at the vb3 market then consumer part of that there's really nothing else but nfts so that's just the one thought that you want I want you to remember um let's take a look at the general like web to Market if we talk about trading then Robin Hood is pretty much our ceiling it's 10 20 million users in us that trade stocks in retail fashion that's that's the ceiling for the trading Market they have a lot of money that's great they have a lot of volume that's great but that's not a lot of users if we take a look at the what what people do we have socials that's probably the biggest one right billions of users uh we have Amazon 200 250 million users in us alone they want to buy stuff they don't want to trade they just want to spend money people come how many people listen to the Netflix shows okay 150 million in US half of the population so 10 to 20 million trade that's that's really the the thesis for for nfts in general we hit ceiling with with everything in 2021 when all these people that wanted to experience things came to the nft world they started meeting art they started playing games and they they're like okay it feels like the internet but I'm clicking buttons and I'm paying $100 in gas fees for every action that's that doesn't feel like a good experience that is actually a bad experience So today we're going to talk about the good experiences with nfts that start to pop off okay bare Market again it's a set time no funding layoffs oo uh nfts are going down but Builders are building shout out to everyone who was building through the bare Market shout out to chains shout out to token B accounts shout out to games shout out to everyone who kept their heads down and been building we are in the bull run that feels good Bitcoin is at 60,000 ethereum is 3500 it's a good feeling it's a good feeling uh now all all the same things that you've been building through the bare Market will come true it will pay off you'll raise funding rounds you'll enjoy the run and then we're going to go to another Bull Run and then we're going to go to another bare Market but every time the infrastructure grows the evolution happens all the things get better okay so infrastructure I don't know if you remember these times and maybe some of you actually dipped a bit into these times where is The Originals that just appeared but if you send a Bitcoin Transaction what you do next is you you go away from your laptop and you take a coffee and you're like yeah I'll wait when it processed you get back in 10 minutes it's still not there you're like okay you go walk around then it's done uh 20 minutes is the average uh confirmation time if you didn't mess up with fees on bitcoin if you did uh maybe more sometimes there is no block on bitcoin for an hour can you imagine that no transaction get processed in one hour we started there 15 years ago 14 years ago and since then we came the long long way so now ethereum ethereum average transaction confirmation time to the user like when you when the block is 1.5 seconds but your transaction doesn't always go to the first block and sometimes you like estimated fees wrongly in general if you make an ethereum transaction you wait seconds 10 20 seconds uh We've experienced that with variable we've built an amazing interface very early that gives you a feedback that okay your transaction is coming handholding now now now now it's done you can use your nft maybe there is some pending uh status for that now it's still not there yet for now it's absolutely clear that technologically and just from all the standpoints economically it is feasible to have blockchains that are damn near instant it wasn't it wasn't me who came up with this name but I love it uh our design team shut out to them so them near instant uh and that what gives you a good experience as a user you want to click a button and you want receive an instant feedback that something happened okay like in in the internet if you watch a show if you watch a movie you click buttons you do socials it happens automatically it happens instantly and there is no limitation to that all together at this point so this is when we are going to see all the things that were were in introduced with nfts will will come back and will be experienced by users in a good way now I'm going to talk to you about the experiences themselves and that's going to be very personal so the next several slides are the experiences that me personally I felt as a good experience as a user is in the user shoes when when I used something and I was like yes that clicks initially when we were creating variable we came to to the space and uh what what prompted us to start a company was was our experience with nfts we created nft we traded them back and forth inside the team and we're like yeah that clicks that feels nice it gives me dopamine heat I I know that I'm I'm going to do it so uh let's go first one experience it's layer twos and layer 3es after using ethereum after having all these errors in metamask I started using layer twos layer 3es I click it it just works and it Dam feel good it's just a good experience that they have had as a user and uh one of the latest ones that that I had it's uh with RAR chain uh it's a layer Tree on top of arbit room it has something like 0.2 second confirmation time you just click and it shows you the green status okay transaction is confirmed good experience let's talk about more web Tre socials that was another experience that I recently en was enjoying a lot frames foraster I know raise your hands who are on forcaster right now okay not everyone uh that should be everyone right forecaster is great it's a vetre social network is going to be very big um it just introduce frames that allow you to attach actions to the onchain social posts um you can click buttons and maintain nft for example very simple so a good experience uh you can do viral campaigns uh we just recently launched an open Edition and you needed to recast like a retweet post to be able to claim an open addition inside that same post so what happened it had 6,000 retweets just think about it consumers want to own a picture that much that they're ready to promote your viral post to 6,000 there was like huge coverage to just own a picture so this this is the experience and this is something that we forget that why people are in this space because they love it because they have good experience they get this do they have this dopamine hit when they own something okay next one it's an nft that can do something right a front pet tamagi you can feed it uh it can it can eat it can fight it's something that Kryptic kitties did back in the day but that felt good there's another example of that that was just launched today uh peaches crypto peaches you can you can own a tree you can own a tree you can grow uh you can fertilize that tree you can grow peaches and then the peaches get delivered to you experience good experience okay and obviously all all the games I'm just not going to talk about games go to the same stuff um next one talking bound the speaker uh before me was explaining that a lot but again it's an nft that can own stuff it can own stuff if you remember I don't know you can you can have a Barbie doll and you can attach different clothes on the Barbie doll or we work with Mattel they want to use that to to have a car and then you can like assemble this car you can put different wheels on this car you can race with that car in a game later so that's a composable nft and it gives you experience and the experience is to put things in a box right to organize things it gives you dopamine hit it feels good okay next one content nft music nft but actually just like wider than that it's a Content nft it's an nft that you can listen to it's an nft that you can read it's an nft that that can represent a podcast there is an amazing app made by uh a guy I know it's called surreal it actually allows you to do all of that in the native mobile interface so he's been pitching me okay I use this I have nft podcasts and I listen to the nft podc in my app right so I experience the content through nfts it's like Netflix right okay good good experience with the content next one uh and this is actually the one that has been on everyone radar probably and I think that this particular explains why we have trading infrastructure so one would ask okay we have trading terminal we have nft lending you can go you can see a chart it feels like a professional Bloomberg terminal why would we need a Bloomberg terminal for a picture okay here's an answer because this pictures are turning into Revenue generating IP ownership and lanets and P pingis just showed us a good example of that so they created a physical toys they put this physical toys in the physical stores they sold for $10 million and they distributed 10% royalties 1 million back to the nft holder that was used which which nfts was used to produce this toys as an IP okay imagine Mickey Mouse as an nft that you can license on chain story protocol is doing that overpass IP is the platform where you can do that that's nice that's good experience that I had because it gave me meaning before that I was almost struggling like why do we need a trading infrastructure for a picture okay that is why it gave me meaning is is great let's go uh so I'm I'm actually pretty much done there is all sorts of different experiences that you can have with nfts as you as you see they go to all sorts of directions so it's not just okay we have a terminal we have a Marketplace it is applications it's platforms it's physical it's games it's mobile so they go to all of these directions we have infrastructure that allows us to do it in a scalable way we want to on board the next 100 million users to the nft this cycle there's going to be a breakout app and suddenly everyone would running around and throwing money at everybody who's building something as nfts again I I promise you that guys um so build something pick an great experience that you like pick a chain that you like there is great experience with cross chain you can pay uh you can pay for something uh using the balance of another chain I clearly see the vision uh for the future where you just have one balance across all your l2s and it gets just used uh whenever you want to buy something this is is going to happen very soon thank you again for all who's been building um we have something to help you variable API just product that we launched yesterday uh it's a realtime indexer of all nfts on all layer 2 if you want to build an app that will do something cool with nfts on Fast chains with the good experience reach out to us it's a fresh product you will be the power user we will listen to your feedback to incorporate that into that product and uh if if you align with the mission you can even join the team to help with the devil to help to move that product further you can go and talk to me after this talk thank you all for your attention you are great build build through the Barr build through the bull you're amazing I'm done thank you so [Applause] much