Understanding the Metaverse Economy with Jamie Burke - Step into the Metaverse Podcast: EP01

Dr Mark van Rijmenam, CSP -

In this episode of The Step into the Metaverse Podcast, I had a chat with Jamie Burke, the Founder and CEO of Outlier Ventures, one of the most important incubators and accelerators in the Web3 space. Jamie provides an overview of bitcoin and blockchain and the ways that companies can aggressively push their businesses forward with emerging technologies. Burke is a pioneer in the blockchain industry.

As Europe's 1st Web 3.0 blockchain venture builder, he and his team have pushed forward on utilizing blockchain as a significant key to emerging trends (AI, Mixed Reality, IoT, and Autonomous Robotics) that will play key roles in multiple industries such as Industry 4.0, eGovt, Health, Mobility, and Smart Cities.

Jamie and I had a fascinating conversation about the open metaverse, something that Jamie is very vocal about. He says it’s important to understand that the beginnings of the Metaverse are already here, and we should not think of it as a far-off destination. He shares his deep insights based on his experience with the rise of Web 2.0, and how they relate to its successor and the growing digital asset space. We also discuss the economics of the metaverse, including metaverse finance or MetaFi, as well as the role of crypto and how brands can step into the metaverse. Enjoy the conversation!

Highlights

  • What the metaverse really is (00:05)
  • The key characteristics of an open metaverse (07:47)
  • How the verifiability of identity and repetition can be built into the metaverse (15:29)
  • Using crypto to bring the metaverse into reality (20:50)
  • Demystifying token design…. (24:41)
  • Why decentralization is needed and what verification will look like eventually (30:13)
  • Embracing NFTs as key components of the metaverse (34:42)
  • Are you looking to get into the metaverse? Here’s how (36:27)

Quotes

“The metaverse is a contact language between culture, the creative industries, finance, and tech to be able to agree upon a future that they do or they dont want” - Jamie Burke
“It’s important that we think of the metaverse as a process that’s happening now. We are experiencing the metaverse emerge” - Jamie Burke
“The metaverse doesn’t require VR to be affordable by everybody. It doesn’t require AR glasses to be on everyone’s heads. It’s really just the point where we begin to stop to distinguish between the physical and digital worlds” - Jamie Burke
“With NFTs, you can effectively have digital LPs again. It’s actually gonna restore many creative industries that have been decimated by the web and restore the value of creative output” - Jamie Burke
“The big thing that’s gonna be happening in DeFi over the next decade or certainly short to midterm is MetaFi, which is digital value in the metaverse that can become collateral in DeFi” - Jamie Burke
“If there is a central honeypot of data, or money, or whatever else, it will be hacked. You cannot secure it” - Jamie Burke

If you are interested in learning more about the metaverse, you can order my book Step into the Metaverse here.