We break down the state of the Meme economy and make comparisons to what we saw in the 2021 bull cycle. Memes on Solana have strong parallels to the NFT market on Ethereum from last cycle, especially when you compare revenue figures of the top marketplaces like pump.fun to Opensea. We give our thoughts on where we are on the timeline of meme mania and speak about the impacts memes are having on the broader crypto market. This includes methods of launching new projects by leveraging memes as a more user friendly go to market vehicle to onboard community and then adding complexity layers down the road to not off-put sentiment.
Also, when it comes to marketing narratives memes seem to be dominating the mind share so we discuss how we are approaching $NAT from a marketing perspective. Now that $NAT is weeks away from officially becoming Bitcoin’s second subsidy reward coin, how we classify this new coin is important for public perception. Some do not see $NAT as a candidate to fit within the existing market demographic of memes and rather see a new narrative formed around the coin that distinguishes it from the meme asset class due to its technical provenance to DMT and the broader mission of supplying Bitcoin miners with additional subsidy to sustain network security. We discuss our thoughts on this and also the liquidity dilemma when it comes to supporting Bitcoin assets. All sectors of the Bitcoin ecosystem are facing this problem and are actively working toward building solutions that can either bring more liquidity to Bitcoin from other chains or port Bitcoin native assets to other chains like Solana to benefit from those capital markets.
We deep dive into some of the deeper implications to what we are observing in the rapidly expanding AI ecosystem. It is clear that the majority of market interest is beginning to gravitate toward AI agents and discovering new verticals of application and use within the context of the web3 economy. We ponder what the end results of this will look like as it will expand the participation pool beyond the capacity to attract retail eyeballs and capital into the market. With Agents having deep contextual awareness of how to custody their own assets and how to engage with protocols in order to increase their own internal wealth, this will effectively accelerate all future market cycles by many orders of magnitude.
However much of a break through this is for the crypto markets, there is a deeper story overall to the existential realities of a physical and digital economy that are both dominated by AI agents and automation technologies, effectively making humans obsolete and void of purpose within the market economy. We ponder some of the already proposed solutions to this such as UBI’s that are directed toward sustaining human needs in a world where everything is in abundance. Perhaps a complete revamp of our value systems are what is needed, and an even more concerning potential to the entire AI race is the complete removal from human involvement in a future economy completely dominated by the AI Agents we are deploying and refining today.
We have a chat with the guys at Ordinals Revolution, Shizzy and Yagobi about the state of the Bitcoin ecosystem and their thoughts on the emerging DMT narrative. Both our YouTube channels have been heavily focused on covering the Bitcoin space, specifically around Ordinals and the technology’s being built around it. We break down some of the significant milestones of the past and what the next steps are for the ecosystem to flourish and compete with Solana and Ethereum. To end we discuss the potential of Bitmap and how DMT serves as a unique market concept that can bring more eyeballs and exposure to Ordinals.
We had a discussion with Jake from Emblem Vault about the future of AI agents in the context of the web3 economy. Emblem Vaults are ERC721 or ERC1155 NFTs that areused to effectively store and exchange assets across a range of different blockchains without the use of bridging. In this way, these NFT “vaults” act as transferable multi-asset wallets that are able to contain both fungible and non-fungible tokens. We discuss recent updates to the Emblem Vault technology which enables AI agents to deploy and own their own vaults, granting the ability to execute on cross chain crypto trades and management of their own wallets. We discuss the rapid acceleration of AI technology and how it is intersecting with blockchain. We dive into how the AI agents will find integration into the metaverse ecosystem and can aid in Bitmap development. Also, we dive deeper into the mechanisms of Emblem Vaults cross chain architecture and how it differs from existing bridging technology that is widely being used, introducing several inefficiencies to the ecosystem that Emblem can solve. As well as explore their Rune token economic designs and how it will apply to the ecosystem they are building.
No interview this week so we take the time to discuss recent events such as Bitcoin reaching a new paradigm in price discovery and also reflect on the 1 year DMT anniversary live stream from last week. This was a full circle demonstration of how Bitmap and the DMT ecosystem align to produce engaging experiences in the metaverse on Bitcoin. With the surge in AI agent interest we postulate how this technology will interplay with the existing metaverse landscape as well as share ideas in how it can be utilized to enhance BitmapOS. With AI Agents most useful feature being the ability to complete tasks on command, the need for “jobs” in the metaverse needs to exist. The most relevant job requirement for the Bitmap ecosystem is the ability to construct 3D assets on parcels. AI agents who can assist in this regard will prove tremendously valuable to the metaverse economy.
We then pivot our discussion to $NAT which is in dire need of liquidity assistance. During the holidays Ordinals Wallet was no longer supporting the trading of $NAT tokens which made it clear that additional options for token trading need to exist. However to be listed on centralized exchanges requires tremendous capital so initiatives need to be put in motion in order to aggregate liquidity to complete the process and to grant $NAT new market exposure. We discuss some of these initiatives and plans and hope to see the DMT community align with our strategy in hopes for a billion dollar market cap for $NAT which we believe will serve as a catalyst to attract liquidity for the entire DMT ecosystem of creators.
We hosted a DMT celebration for the 1 year anniversary of the protocol inside 100.Bitmap. This event is a full circle moment for us after 5 years developing in the metaverse to see our community present in the metaverse on Bitcoin as we live broadcasted our own podcast to them. Through the scene we created we had on display all of the creations over the last year. From the first non-arbitrary fungible tokens like $NAT to the over 50 UNAT collections and metaverse avatars/wearables. We also were able to bring DMT Pirates on stage and have an in-world conversation with them as they explained their upcoming UNAT launch. We achieved so much as a community already, and year 2 we have even higher ambitions to create killer products and market verticals that expand the use case and application for DMT creators. We believe more events like this will help present Bitmap in a bright light and attract many more people the metaverse on Bitcoin. The demonstration of this event showcases some of the major technology upgrades coming to the NATRIX and BitmapOS supported ecosystems. With the collaboration with Msquared, all Bitmap owners will have the ability to leverage this technology to build out their own ecosystems. We are proud of the progress we have made and the community we are building who have an aligned belief in the power of a non-arbitrary metaverse ecosystem built on Bitcoin. Huge thanks to all who attended the event, more events will be hosted in the future.