Chain Reaction episode<\/a>, Siu said that NFTs are \u201cdigital stores of culture that we can then transform,\u201d whether that\u2019s something as simple as owning your value online or protecting your intellectual property.<\/p>\nHe explained that NFTs could be used to open up avenues for earning money from content while avoiding traditional paths to monetization, which could cost a lot of money. He pointed as an example to someone who\u2019s a teacher in Venezuela and earns a monthly salary of about $10 or $15 \u2014 they could create educational content or assets that can open doors to a side income. It may cost too much to have a lawyer drum up a contract, but with an NFT, you could create one in a single transaction for less than $1, he said.<\/p>\n
\u201cWe\u2019ve seen that in effect, where teachers in these countries have started making assets. They\u2019re making a small yield, and then investors from all over the world have said, \u2018I\u2019m going to buy this, I can make more value out of this,\u2019\u201d he added.<\/p>\n
That encapsulation of intellectual property rights can extend to everyone building their own IP by using NFTs, Siu said. For example, a dancer on TikTok can create a viral dancing trend, but without proof that they created it first, they couldn\u2019t monetize it if they wanted to.<\/p>\n
\u201cWeb3 is so important, especially given the fact that AI is becoming such a prevalent part of our lives. Yet, we have no control over ownership of any of it,\u201d Siu said.<\/p>\n
With blockchain technology, anyone can create a trademark or copyright claim on something that they had created, Siu said. \u201cThese are other ways in which you can start to defend your rights. That really empowers everyone to do that.\u201d<\/p>\n
Of course, not everyone will find it easy to develop such an understanding of NFTs and the related tech quickly. But over time, Siu believes there will be more accessible routes to make this vision a reality for everyone.<\/p>\n
The whole movement can feel deeply personal because it involves money, Siu noted. \u201cIn this sense, it feels like digital capitalism sort of comes home in a very big way.\u201d<\/p>\n
In the U.S., Siu said he\u2019s seen fairly anti-capitalist movements, especially among young people. \u201cMoney and capitalism starts to feel futile [\u2026] People were very negative towards folk in the finance industry, and they kind of talk about people in crypto in the same way.\u201d<\/p>\n
But Siu feels this is ironic, because web3 users were originally the ones who \u201crallied against the establishment and created an alternative system\u201d outside of traditional financial rails.<\/p>\n
He thinks on-chain dynamics is the best way to verify information because it\u2019s fully auditable. \u201cThat\u2019s why I think blockchain technology will help solve many of the world\u2019s biggest problems that are incoming.\u201d<\/p>\n<\/p><\/div>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"NFTs don\u2019t always get taken very seriously, particularly now that AI and content creators are hogging the spotlight, but not everyone is so quick to discount crypto\u2019s oft-derided younger sibling. According to Animoca Brands\u2019 chairman and co-founder, Yat Siu, the growing influence of artificial intelligence and content is exactly why there is a growing need […]<\/p>\n","protected":false},"author":1,"featured_media":13887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[16],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2022\/10\/tc-disrupt-2022-yat-siu-animoca-brands-1.jpg?resize=1200,800","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/13886"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=13886"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/13886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/13887"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=13886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=13886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=13886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}