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How Web3 Will Shape the Future of Culture and Society – with Shashwat Eternal

May 05, 2023

In this fascinating episode, Joeri Billast and Shashwat Eternal dive deep into the world of Web3 and its potential impact on culture and society.

Shashwat has been a novelist, a founder in the normie world, and a marketeer in Web3 for about 3 years. He has led the marketing efforts for multiple projects, NFT3 being his third, and brings a cultural lens to everything crypto.His central conviction is that among the 3 big tech frontiers of AI, Bioengineering and Blockchain, blockchain will bring the most benign cultural progress. It is this thesis and the ideal of individual sovereignty he explores as head of Marketing for NFT3.com. Joeri and Shashwat discuss the current state of the decentralized finance (DeFi) space, the emergence of decentralized identity, and how Web3 gaming could revolutionize the industry. They also share insights on the Metaverse and its potential to change how we interact and network in the digital realm.Don't miss this thought-provoking conversation as they explore the future possibilities of Web3 technology and its implications on our everyday lives.

Unlocking DeFi's Potential with Decentralized Identity

Shashwat highlighted the importance of decentralized identity in shaping the future of DeFi. With decentralized identity, DeFi can become more efficient and accessible, leading to a more inclusive financial ecosystem. One major hurdle to DeFi adoption is the lack of understanding of the underlying technologies, which could be addressed by making DeFi more user-friendly and relatable.

Shashwat also discussed the possibility of a credit system within DeFi enabled by decentralized identity, making it easier for people to access loans. This would not only improve DeFi's usability but could also lead to a more seamless integration of DeFi services into everyday life.

The Untapped Potential of NFTs

Shifting the focus to NFTs, Shashwat emphasized the potential of NFTs to go beyond digital art and transform various industries. NFTs could be used to tokenize real-world assets, bringing more liquidity to different markets. The key to unlocking this potential lies in focusing on building utility and meaningful use cases for NFTs, rather than just concentrating on speculation and hype.

Joeri and Shashwat agreed that there are still many untapped opportunities in the NFT space, particularly in terms of intellectual property and real-world asset tokenization. As the technology matures and becomes more widely understood, the possibilities for NFTs will continue to grow.

Cultural Implications of NFTs, Web3 Gaming, and the Metaverse

As NFTs, Web3 gaming, and the metaverse become more ingrained in our daily lives, we can expect to see significant cultural shifts taking place. These emerging technologies provide new avenues for creative expression and social interaction, which could lead to the development of unique subcultures and communities within the digital realm. Both Joeri and Shashwat recognize the transformative potential of these platforms, as they not only redefine how we engage with digital content but also foster new forms of cultural expression and connectivity."

The Rise of Web3 Gaming

Web3 gaming is another area that Shashwat is bullish about. He believes that the gaming industry will truly embrace Web3 once AAA-quality games with Web3 integration are released. However, he also acknowledged the current divide between gamers and crypto enthusiasts in the Web3 gaming space, which has led to some friction.

Shashwat is confident that once high-quality games are developed with Web3 integration, the gaming industry will experience massive growth and adoption. In the meantime, he suggests that focusing on gaming with tokens and other incentive mechanisms could be a viable short-term alternative to attract crypto enthusiasts, while gamers will be drawn in when polished Web3 games are released.

The Inevitability of the Metaverse

Towards the end of the conversation, the topic shifted to the metaverse, which both Joeri and Shashwat view as a technological inevitability. While it's still early days for the metaverse, and mass adoption may be some way off, its development could progress faster than anticipated.

They agreed that the metaverse represents a natural evolution in information sharing and communication, and that its emergence is simply a matter of time. As the technology continues to advance, we can expect to see the metaverse become an increasingly integral part of our digital lives.

Conclusion

The podcast featuring Joeri Billast and Shashwat Eternal provided valuable insights into the future of decentralized identity, NFTs, and Web3 gaming. As these technologies continue to evolve and mature, we can expect to see exciting developments and groundbreaking innovations that will reshape the way we interact with digital assets and online platforms.

Shashwat Eternal

KEY HIGHLIGHTS   (see clickable version on www.cmo-stories.com)

[00:29] Who is Shashwat Eternal? 

[00:56] Can you share a bit about your background and where you'd like to start? 

[03:18] How do you see Web3 impacting our society and culture in the long run? 

[05:31] How do you use storytelling to educate people about Web3 and culture as a Narrator? 

[09:29] How do you think digital ownership, particularly with regards to NFTs and Web3, will impact the future of consuming and interacting with digital content? 

[16:00] How do you think commerce in the industry can play in contributing to cultural progress and individual sovereignty, especially as Web3 continues to grow? 

[21:31] What important evolutions or developments do you see in the near future, considering the exciting things happening in the industry, despite the possibility of a bear market? 

[29:02] If people want to follow you Shashwat where would you like to send them? 

NOTABLE QUOTES 

"NFTs have this incredible potential to be a foundational layer of the metaverse, right? Like, think of them as parcels of land, essentially." – Shashwat Eternal 

"It's not just about being a creator and a user, but it's also about being an investor and making money with your creativity." – Joeri Billast 

"I'm very bullish on Web3 gaming. I do think that when it gets exactly fixed, it will be incredible, and that value can go to the players." – Shashwat Eternal 

"The metaverse is one of those cases where it's a technological inevitability, and we will see it happen soon. It's just very, very difficult to time." – Shashwat Eternal

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