Kayvon Tehranian: How NFTs are building the internet of the future | TED

135,669 views ใƒป 2021-12-14

TED


ืื ื ืœื—ืฅ ืคืขืžื™ื™ื ืขืœ ื”ื›ืชื•ื‘ื™ื•ืช ื‘ืื ื’ืœื™ืช ืœืžื˜ื” ื›ื“ื™ ืœื”ืคืขื™ืœ ืืช ื”ืกืจื˜ื•ืŸ.

ืชืจื’ื•ื: zeeva livshitz ืขืจื™ื›ื”: Ido Dekkers
00:13
NFTs are not a scam.
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NFTs (ืืกื™ืžื•ื ื™ื ื—ืกืจื™ ืชื—ืœื™ืฃ) ืื™ื ื ื”ื•ื ืื”
00:17
NFTs are not a fad.
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NFTs ืื™ื ื ืื•ืคื ื” ื—ื•ืœืคืช
00:19
In fact, NFTs are the building blocks of the internet of the future.
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ืœืžืขืฉื”, NFTs ื”ื ืื‘ื ื™ ื”ื‘ื ื™ื™ืŸ ืฉืœ ื”ืื™ื ื˜ืจื ื˜ ืฉืœ ื”ืขืชื™ื“.
00:24
But in order for us to see this future clearly,
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ืื‘ืœ ื›ื“ื™ ืฉื ื•ื›ืœ ืœืจืื•ืช ืืช ื”ืขืชื™ื“ ื”ื–ื” ื‘ื‘ื™ืจื•ืจ,
00:27
we first need to go back into the past.
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ืขืœื™ื ื• ืจืืฉื™ืช ืœื—ื–ื•ืจ ืœืขื‘ืจ.
00:30
The year is 1992.
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ื”ืฉื ื” ื”ื™ื 1992.
00:33
The World Wide Web is only three years old.
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ื”ืื™ื ื˜ืจื ื˜ ื”ืขื•ืœืžื™ ื”ื•ื ืจืง ื‘ืŸ ืฉืœื•ืฉ.
00:37
This is what it looks like.
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ื›ืš ื–ื” ื ืจืื”.
00:41
For the first time in human history,
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ืœืจืืฉื•ื ื” ื‘ื”ื™ืกื˜ื•ืจื™ื” ื”ืื ื•ืฉื™ืช,
00:43
we share a global commons,
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ืื ื• ื—ื•ืœืงื™ื ืžืื’ืจ ืžืฉื•ืชืฃ ื’ืœื•ื‘ืœื™,
00:46
where, irrespective of where we are in the physical world,
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ืฉื‘ื•, ืœื ืžืฉื ื” ื”ื™ื›ืŸ ืื ื• ื ืžืฆืื™ื ื‘ืขื•ืœื ื”ืคื™ื–ื™,
00:48
we can convene and share information freely.
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ืื ื—ื ื• ื™ื›ื•ืœื™ื ืœื”ืชื›ื ืก ื•ืœืฉืชืฃ ืžื™ื“ืข ื‘ืื•ืคืŸ ื—ื•ืคืฉื™.
00:52
Most people at that time couldn't see what it meant
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ืจื•ื‘ ื”ืื ืฉื™ื ื‘ืื•ืชื” ืชืงื•ืคื” ืœื ื™ื›ืœื• ืœืจืื•ืช ืžื” ื–ื” ืื•ืžืจ
00:55
to be connected by a network of computers.
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ืœื”ื™ื•ืช ืžื—ื•ื‘ืจื™ื ืขืœ ื™ื“ื™ ืจืฉืช ืžื—ืฉื‘ื™ื.
00:58
In fact, many people thought the internet itself was a scam or a fad.
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ืœืžืขืฉื”, ืื ืฉื™ื ืจื‘ื™ื ื—ืฉื‘ื• ืฉื”ืื™ื ื˜ืจื ื˜ ืขืฆืžื• ื”ื™ื” ื”ื•ื ืื” ืื• ืื•ืคื ื” ื—ื•ืœืคืช.
01:04
But a few early internet pioneers saw the potential
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ืื‘ืœ ื›ืžื” ื—ืœื•ืฆื™ ืื™ื ื˜ืจื ื˜ ืžื•ืงื“ืžื™ื ืจืื• ืืช ื”ืคื•ื˜ื ืฆื™ืืœ
01:07
in this burgeoning technology.
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ืฉื˜ืžื•ืŸ ื‘ื˜ื›ื ื•ืœื•ื’ื™ื” ื”ืžืชืคืชื—ืช ื”ื–ื•.
01:10
One of those early internet pioneers, John Perry Barlow,
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ืื—ื“ ืžืื•ืชื ื—ืœื•ืฆื™ ืื™ื ื˜ืจื ื˜ ื”ืžื•ืงื“ืžื™ื, ื’โ€™ื•ืŸ ืคืจื™ ื‘ืืจืœื•,
01:14
saw both the opportunities and pitfalls inherent in our new digital world.
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ืจืื” ื”ืŸ ืืช ื”ื”ื–ื“ืžื ื•ื™ื•ืช ื•ื”ืŸ ืืช ื”ืžืœื›ื•ื“ื•ืช ื”ื˜ืžื•ื ื•ืช ื‘ืขื•ืœื ื”ื“ื™ื’ื™ื˜ืœื™ ื”ื—ื“ืฉ ืฉืœื ื•.
01:20
And, of early cyberspace, he posed a prescient riddle
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ื•ื’ื, ื‘ืžืจื—ื‘ ื”ืกื™ื™ื‘ืจ ื”ืžื•ืงื“ื, ื”ืฆื™ื’ ื—ื™ื“ื”
01:24
all the way back in 1992,
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ื›ื‘ืจ ืื– ื‘ 1992,
01:26
that I'll paraphrase for you:
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ืฉืื ื™ ืื ืกื— ืขื‘ื•ืจื›ื ืžื—ื“ืฉ:
01:29
"If our property can be infinitely reproduced
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โ€œืื ื”ื ื›ืกื™ื ืฉืœื ื• ื™ื•ื›ืœื• ืœื”ื™ื•ืช ืžืฉื•ื›ืคืœื™ื ืขื“ ืื™ืŸ ืงืฅ
01:34
and instantaneously distributed across the planet without cost,
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ื•ืžื•ืคืฆื™ื ื‘ืื•ืคืŸ ืžื™ื™ื“ื™ ื‘ืจื—ื‘ื™ ื›ื“ื•ืจ ื”ืืจืฅ ืœืœื ืขืœื•ืช,
01:39
how are we going to protect it?
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ืื™ืš ื ื’ืŸ ืขืœื™ื”ื?
01:43
How are we going to get paid for the work we do with our minds?
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ืื™ืš ื ืงื‘ืœ ืชืฉืœื•ื ืขื‘ื•ืจ ื”ืขื‘ื•ื“ื” ืฉืื ื• ืขื•ืฉื™ื ื‘ืืžืฆืขื•ืช ื”ืžื™ื™ื ื“?
01:48
And if we can't get paid,
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ื•ืื ืœื ื ื•ื›ืœ ืœืงื‘ืœ ืชืฉืœื•ื,
01:50
what will assure the continued creation and distribution of such work?โ€
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ืžื” ื™ื‘ื˜ื™ื— ืืช ื”ืžืฉืš ื”ื™ืฆื™ืจื” ื•ื”ื”ืคืฆื” ืฉืœ ืขื‘ื•ื“ื” ื›ื–ื•?โ€
01:57
A lot has changed on the internet since 1992.
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ื”ืจื‘ื” ื”ืฉืชื ื” ื‘ืื™ื ื˜ืจื ื˜ ืžืื– 1992.
02:00
The internet itself is an alive and evolving technology.
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ื”ืื™ื ื˜ืจื ื˜ ืขืฆืžื• ื”ื™ื ื• ื˜ื›ื ื•ืœื•ื’ื™ื” ื—ื™ื” ื•ืžืชืคืชื—ืช.
02:05
And as predicted by its earliest champions,
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ื•ื›ืคื™ ืฉื—ื–ื• ื”ืžืฉืชืžืฉื™ื ื”ืžื•ืงื“ืžื™ื ื‘ื™ื•ืชืจ ืฉืœื•,
02:08
the internet has increasingly become our default context.
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ื”ืื™ื ื˜ืจื ื˜ ื”ืคืš ื™ื•ืชืจ ื•ื™ื•ืชืจ ืœื‘ืจื™ืจืช ืžื—ื“ืœ ืฉืœื ื•.
02:13
Today, one's job, wealth,
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ื”ื™ื•ื ื›ืฉื”ืขื‘ื•ื“ื”, ื”ืขื•ืฉืจ,
02:16
relationships, sense of self,
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ืžืขืจื›ื•ืช ื™ื—ืกื™ื ื•ืชื—ื•ืฉืช ื”ืขืฆืžื™ ืฉืœ ื”ื™ื—ื™ื“,
02:18
are all often more mediated through our digital contexts
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ืœืจื•ื‘ ืžืชื•ื•ื›ื™ื ื›ื•ืœื, ื™ื•ืชืจ ื‘ืืžืฆืขื•ืช ื”ื”ืงืฉืจื™ื ื”ื“ื™ื’ื™ื˜ืœื™ื™ื ืฉืœื ื•
02:21
than our physical ones.
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ืžืืฉืจ ื”ืคื™ื–ื™ื™ื ืฉืœื ื•.
02:25
Yet, Barlow's riddle has remained vexingly unsolved.
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ืขื ื–ืืช, ื—ื™ื“ืชื• ืฉืœ ื‘ืืจืœื• ื‘ืื•ืคืŸ ืžื˜ืจื™ื“, ืœื ื ืคืชืจื”
02:28
Concepts like property and ownership --
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ืžื•ืฉื’ื™ื ื›ืžื• ืจื›ื•ืฉ ื•ื‘ืขืœื•ืช --
02:31
ideas that have been with us for centuries in the physical world --
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ืจืขื™ื•ื ื•ืช ืฉื”ื™ื• ืื™ืชื ื• ื‘ืžืฉืš ืžืื•ืช ืฉื ื™ื ื‘ืขื•ืœื ื”ืคื™ื–ื™ --
02:34
have evaded us in our digital spaces.
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ื—ืžืงื• ืžืื™ืชื ื• ื‘ืžืจื—ื‘ื™ื ื”ื“ื™ื’ื™ื˜ืœื™ื™ื ืฉืœื ื•.
02:38
Weโ€™ve tried to foist copyright,
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ื ื™ืกื™ื ื• ืœื”ืฉืœื™ื˜ ื–ื›ื•ื™ื•ืช ื™ื•ืฆืจื™ื,
02:41
DMCA,
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DMCA (ื—ื•ืง ื–ื›ื•ื™ื•ืช ื™ื•ืฆืจื™ื)
DRM ื•ืกื™ืžื ื™ ืžื™ื ืœืื™ื ื˜ืจื ื˜ ื›ื“ื™ ืœื”ื’ืŸ ืขืœ ื”ืจืขื™ื•ื ื•ืช ืฉืœื ื•
02:43
DRM and watermarks onto the internet to protect our ideas
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02:47
and to restrain their distribution.
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ื•ืœืจืกืŸ ืืช ื”ืคืฆืชื.
02:50
None of these approaches have worked.
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ืืฃ ืื—ืช ืžื”ื’ื™ืฉื•ืช ื”ืœืœื• ืœื ืขื‘ื“ื”.
ืœืžื”? ื›ื™ ื›ืคื™ ืฉืงื‘ืข ืกื˜ื™ื•ืืจื˜ ื‘ืจื ื“,
02:53
Why?
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02:55
Because, as Stewart Brand, another early internet pioneer, famously coined:
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ืขื•ื“ ื—ืœื•ืฅ ืื™ื ื˜ืจื ื˜ ืžื•ืงื“ื ืฉื˜ื‘ืข ืืช ื”ืงื‘ื™ืขื” ื”ืžืคื•ืจืกืžืช:
02:59
information wants to be free.
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ื”ืžื™ื“ืข ืจื•ืฆื” ืœื”ื™ื•ืช ื—ื•ืคืฉื™.
03:02
It wants to travel effortlessly, without hindrance, without encumbrance.
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ื”ื•ื ืจื•ืฆื” ืœื ื•ืข ืœืœื ืžืืžืฅ, ืœืœื ื”ืคืจืขื”, ืœืœื ืฉื™ืขื‘ื•ื“.
03:06
This is what allowed the internet to succeed in the first place.
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ื–ื” ืžื” ืฉืื™ืคืฉืจ ืœืื™ื ื˜ืจื ื˜ ืœื”ืฆืœื™ื— ืžืœื›ืชื—ื™ืœื”.
03:10
Since 1992, we've uploaded trillions of photos and videos and even cat memes
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ืžืื– 1992, ื”ืขืœื ื• ื˜ืจื™ืœื™ื•ื ื™ื ืฉืœ ืชืžื•ื ื•ืช ื•ืกืจื˜ื•ื ื™ื ื•ืืคื™ืœื• ืžืžื™ื ืฉืœ ื—ืชื•ืœื™ื
03:18
to the internet for free.
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ืœืื™ื ื˜ืจื ื˜ ื‘ื—ื™ื ื.
03:20
And what business model has allowed this information to be free?
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ื•ืื™ื–ื” ืžื•ื“ืœ ืขืกืงื™ ืื™ืคืฉืจ ืฉื”ืžื™ื“ืข ื”ื–ื” ื™ื”ื™ื” ื‘ื—ื™ื ื?
03:25
Advertising.
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ืคึดึผืจืกื•ึผื.
03:27
Advertising is the internet's default business model,
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ืคืจืกื•ื ื”ื•ื ื‘ืจื™ืจืช ื”ืžื—ื“ืœ ืฉืœ ื”ืื™ื ื˜ืจื ื˜ ืœืžื•ื“ืœ ืขืกืงื™,
03:30
not because that's what we want, but because it's what pays the bills.
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ืœื ื›ื™ ื–ื” ืžื” ืฉืื ื—ื ื• ืจื•ืฆื™ื, ืืœื ื›ื™ ื–ื” ืžื” ืฉืžืฉืœื ืืช ื”ื—ืฉื‘ื•ื ื•ืช.
03:34
Right now, the few large corporations that run the most effective ad networks
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ื›ืจื’ืข, ื”ืชืื’ื™ื“ื™ื ื”ื’ื“ื•ืœื™ื ื”ื‘ื•ื“ื“ื™ื ืฉืžืคืขื™ืœื™ื ืืช ืจืฉืชื•ืช ื”ืคืจืกื•ื ื”ื™ืขื™ืœื•ืช ื‘ื™ื•ืชืจ
03:38
control most of the value on today's internet,
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ืฉื•ืœื˜ื™ื ื‘ืจื•ื‘ ื”ืขืจืš ื”ืื™ื ื˜ืจื ื˜ื™ ืฉืœ ื”ื™ื•ื,
03:41
not the people creating its content.
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ื•ืœื ื”ืื ืฉื™ื ืฉื™ื•ืฆืจื™ื ืืช ื”ืชื•ื›ืŸ ืฉืœื•.
03:44
On today's internet, we don't get paid for the work we do with our minds.
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ื‘ืื™ื ื˜ืจื ื˜ ืฉืœ ื”ื™ื•ื, ืื ื—ื ื• ืœื ืžืงื‘ืœื™ื ืชืฉืœื•ื ืขืœ ืขื‘ื•ื“ืช ื”ืžื™ื™ื ื“ ืฉืœื ื•
03:48
And what's more, the content we upload to these services is trapped there.
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ื•ื™ื•ืชืจ ืžื–ื”, ื”ืชื•ื›ืŸ ืฉืื ื• ืžืขืœื™ื ืœืฉื™ืจื•ืชื™ื ืืœื” ืœื›ื•ื“ ืฉื.
03:54
These services not only make money from our content, they control it.
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ื”ืฉื™ืจื•ืชื™ื ื”ืืœื” ืœื ืจืง ืžืจื•ื•ื™ื—ื™ื ื›ืกืฃ ืžื”ืชื›ื ื™ื ืฉืœื ื•, ื”ื ืฉื•ืœื˜ื™ื ื‘ื•.
03:59
Until NFTs.
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ืขื“ ืœ NFTs. (ืืกื™ืžื•ื ื™ื ื—ืกืจื™ ืชื—ืœื™ืฃ)
04:02
NFTs are a technological breakthrough.
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NFTs ื”ื ืคืจื™ืฆืช ื“ืจืš ื˜ื›ื ื•ืœื•ื’ื™ืช.
04:04
They offer us the opportunity to break away from that broken system.
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ื”ื ืžืฆื™ืขื™ื ืœื ื• ืืช ื”ื”ื–ื“ืžื ื•ืช ืœื”ืชื ืชืง ืžื”ืžืขืจื›ืช ื”ืฉื‘ื•ืจื” ื”ื–ื•.
04:10
So you're asking yourself: What is an NFT?
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ืื– ืืชื ืฉื•ืืœื™ื ืืช ืขืฆืžื›ื: ืžื”ื• NFT?
04:14
It's a certificate of ownership registered on the blockchain
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ื–ื• ืชืขื•ื“ืช ื‘ืขืœื•ืช ืฉืจืฉื•ืžื” ื‘ื‘ืœื•ืงืฆโ€™ื™ื™ืŸ
04:18
for everyone to see.
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ืฉื›ื•ืœื ื™ื›ื•ืœื™ื ืœืจืื•ืช.
04:20
It's not too dissimilar to the deed you get
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ื–ื” ืœื ืฉื•ื ื” ืžื“ื™ ืžื”ื—ื•ื–ื” ืฉืืชื ืžืงื‘ืœื™ื
04:23
when you buy a house in the physical world.
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ื›ืืฉืจ ืืชื ืงื•ื ื™ื ื‘ื™ืช ื‘ืขื•ืœื ื”ืคื™ื–ื™.
04:26
But instead of a house, an NFT denotes ownership of a file on the internet.
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ืื‘ืœ ื‘ืžืงื•ื ื‘ื™ืช, NFT ืžืฆื™ื™ืŸ ื‘ืขืœื•ืช ืขืœ ืงื•ื‘ืฅ ื‘ืื™ื ื˜ืจื ื˜.
04:32
And unlike copyright or watermarks,
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ื•ื‘ื ื™ื’ื•ื“ ืœื–ื›ื•ื™ื•ืช ื™ื•ืฆืจื™ื ืื• ืœืกื™ืžื ื™ ืžื™ื,
04:34
which are ancient technologies rooted in bygone eras,
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ืฉื”ืŸ ื˜ื›ื ื•ืœื•ื’ื™ื•ืช ืขืชื™ืงื•ืช ืฉืฉื•ืจืฉื™ื”ืŸ ื‘ืชืงื•ืคื•ืช ืขื‘ืจื•,
04:38
NFTs are internet native.
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NFTs ื”ื ืžืงื•ืจื™ื™ื ื‘ืื™ื ื˜ืจื ื˜.
04:40
They are born of the internet for the internet.
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ื”ื ื ื•ืœื“ื• ืžื”ืื™ื ื˜ืจื ื˜ ืขื‘ื•ืจ ื”ืื™ื ื˜ืจื ื˜.
04:45
And NFTs don't simply port our existing model of ownership
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NFTs ืœื ืจืง ืžืขื‘ื™ืจื™ื ืืช ืžื•ื“ืœ ื”ื‘ืขืœื•ืช ืฉืœื ื•
04:48
from the physical world,
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ืžื”ืขื•ืœื ื”ืคื™ื–ื™,
04:49
they improve it.
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ื”ื ืžืฉืคืจื™ื ืื•ืชื•.
04:52
In the physical world, ownership actually fences people out.
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ื‘ืขื•ืœื ื”ืคื™ื–ื™, ื‘ืขืœื•ืช ืœืžืขืฉื” ืžืฆื™ื‘ื” ื’ื“ืจ ื‘ืคื ื™ ื”ืื ืฉื™ื ืžื‘ื—ื•ืฅ.
04:56
It precludes others from enjoying what you own.
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ื–ื” ืžื•ื ืข ืžืื—ืจื™ื ืžืœื”ื ื•ืช ืžืžื” ืฉื‘ื‘ืขืœื•ืชื›ื.
04:59
I wouldn't expect to feel welcome in your home uninvited.
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ืœื ื”ื™ื™ืชื™ ืžืฆืคื” ืœื”ืจื’ื™ืฉ ืจืฆื•ื™ ื‘ื‘ื™ืชื›ื ื›ืฉืื™ื ื ื™ ืžื•ื–ืžืŸ.
05:04
Digital space, however, is expansive.
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ืื•ืœื, ื”ืžืจื—ื‘ ื”ื“ื™ื’ื™ื˜ืœื™ ื”ื•ื ืจื—ื‘ ื”ื™ืงืฃ.
05:07
It's home to the infinite, the exponential,
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ื”ื•ื ื”ื‘ื™ืช ืฉืœ ื”ืื™ื ืกื•ืคื™, ื”ืžืขืจื™ื›ื™,
05:09
the instantaneous.
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ื”ืžื™ื™ื“ื™.
05:11
NFTs offer a system of ownership that reflects this expansiveness.
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NFTs ืžืฆื™ืขื™ื ืžืขืจื›ืช ื‘ืขืœื•ืช ืฉืžืฉืงืคืช ืืช ื”ืžืจื—ื‘ ื”ื–ื”.
05:16
With NFTs, my owning something doesn't preclude others from enjoying it.
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ืขื NFTs, ื”ื‘ืขืœื•ืช ืฉืœื™ ืขืœ ืžืฉื”ื• ืœื ืžื•ื ืขืช ืžืื—ืจื™ื ืœื™ื”ื ื•ืช ืžื–ื”.
05:19
In fact, it's the opposite.
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ืœืžืขืฉื”, ื”ื”ืคืš ื”ื•ื ื”ื ื›ื•ืŸ.
05:21
The more an NFT is seen, appreciated and understood,
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ื›ื›ืœ ืฉื” NFT ื™ื™ืจืื” ื™ื•ืชืจ, ื™ื•ืขืจืš ื•ื™ื•ื‘ืŸ,
05:25
the more possibility it has to increase in value.
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ื™ืฉ ืœื• ื™ื•ืชืจ ืืคืฉืจื•ืช ืœืขืœื•ืช ื‘ืขืจืš.
05:28
Let's take an example:
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ื‘ื•ืื• ื•ื ื™ืงื— ื“ื•ื’ืžื:
05:30
Nyan Cat, a wildly popular, instantly recognizable cat meme.
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ื ื™ืืŸ-ืงืื˜, ื—ืชื•ืœ ืžืž ืคื•ืคืœืจื™ ืžืื•ื“, ืฉื ื™ืชืŸ ืœื–ื”ื•ืช ืžื™ื™ื“
05:36
Since it was uploaded to the internet a decade ago,
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ืžืื– ืฉื”ื•ืขืœื” ืœืื™ื ื˜ืจื ื˜ ืœืคื ื™ ืขืฉื•ืจ,
05:38
it has accumulated hundreds of millions of views.
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ื”ื•ื ืฆื‘ืจ ืžืื•ืช ืžื™ืœื™ื•ื ื™ ืฆืคื™ื•ืช.
05:43
And precisely because of that virality, when it was auctioned as an NFT,
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ื•ื“ื•ื•ืงื ื‘ื’ืœืœ ื•ื™ืจืืœื™ื•ืช ื–ื•, ื›ืืฉืจ ื”ื•ื ื”ื•ื›ืจื– ื‘ืžื›ื™ืจื” ืคื•ืžื‘ื™ืช ื›- NFT,
05:47
it sold for 300 ETH, or the equivalent of over 600,000 dollars.
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ื”ื•ื ื ืžื›ืจ ืชืžื•ืจืช 300 ETH, ืื• ืฉื•ื•ื” ืขืจืš ืœื™ื•ืชืจ ืž- 600,000 ื“ื•ืœืจ.
05:53
And the person who now owns this NFT, they're not preventing anyone from liking,
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ื•ืžื™ ืฉื‘ื‘ืขืœื•ืชื• ื›ืขืช ื”- NFT ื”ื–ื”, ืื™ื ื• ืžื•ื ืข ืžืืฃ ืื—ื“ ืœืื”ื•ื‘ ืื•ืชื•,
05:58
resharing or remixing Nyan Cat --
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ืœืฉืชืฃ ืื• ืœืขืจื•ืš ืžื—ื“ืฉ ืืช ื ื™ืืŸ ืงืื˜ -
06:01
Nyan Cat is free to travel the internet
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ื ื™ืืŸ ืงืื˜ ื—ื•ืคืฉื™ ืœื”ืกืชื•ื‘ื‘ ื‘ืื™ื ื˜ืจื ื˜
06:04
as it always has.
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ื›ืคื™ ืฉืชืžื™ื“ ื”ื™ื”.
06:06
What's different now is that,
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ืžื” ืฉืฉื•ื ื” ืขื›ืฉื™ื• ื–ื”,
06:08
as Nyan Cat's popularity continues to grow,
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ืฉื›ื›ืœ ืฉื”ืคื•ืคื•ืœืจื™ื•ืช ืฉืœ ื ื™ืืŸ ืงืื˜ ืžืžืฉื™ื›ื” ืœื’ื“ื•ืœ,
06:11
so can the value of the NFT.
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ื›ืš ื’ื ื”ืฉื•ื•ื™ ืฉืœ ื”- NFT.
06:14
Because of NFTs, Chris Torres, Nyan Cat's creator,
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ื”ื•ื“ื•ืช ืœ-NFTs, ื›ืจื™ืก ื˜ื•ืจืก, ื™ื•ืฆืจื• ืฉืœ ื ื™ืืŸ ืงืื˜,
06:18
has received direct compensation for his creation.
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ืงื™ื‘ืœ ืชื’ืžื•ืœ ื™ืฉื™ืจ ืขืœ ื™ืฆื™ืจืชื•.
06:22
But what's more is he'll continue to receive compensation
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ืื‘ืœ ืžื” ืฉื™ื•ืชืจ ื–ื” ืฉื”ื•ื ื™ืžืฉื™ืš ืœืงื‘ืœ ืชื’ืžื•ืœ
06:26
every single time the NFT is resold.
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ื‘ื›ืœ ืคืขื ืฉื”-NFT ื ืžื›ืจ ืžื—ื“ืฉ.
06:29
This is because of the royalty system baked into the smart contracts
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ื–ื” ื‘ื–ื›ื•ืช ืžืขืจื›ืช ื”ืชืžืœื•ื’ื™ื ืฉื˜ื‘ื•ืขื” ื‘ื—ื•ื–ื™ื ื”ื—ื›ืžื™ื
06:33
that govern NFTs.
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ื”ืฉื•ืœื˜ื™ื ื‘- NFTs.
06:35
NFTs are software; they can be programmed.
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NFTs ื”ื ืชื•ื›ื ื”; ื ื™ืชืŸ ืœืชื›ื ืช ืื•ืชื.
06:40
And with something as complicated as royalties,
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ื•ืขื ืžืฉื”ื• ืžืกื•ื‘ืš ื›ืžื• ืชืžืœื•ื’ื™ื,
06:42
which require enormous amounts of legal and manual labor to implement
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ืฉื“ื•ืจืฉื™ื ื›ืžื•ื™ื•ืช ืื“ื™ืจื•ืช ืฉืœ ืขื‘ื•ื“ื” ืžืฉืคื˜ื™ื•ืช ื•ื™ื“ื ื™ืช ืœื™ื™ืฉื•ื
06:46
in our analog world,
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ื‘ืขื•ืœื ื”ืื ืœื•ื’ื™ ืฉืœื ื•,
06:48
we can now express them in a few simple lines of code.
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ื›ืขืช ืื ื• ื™ื›ื•ืœื™ื ืœื”ื‘ื™ืข ืื•ืชื ื‘ื›ืžื” ืฉื•ืจื•ืช ืงื•ื“ ืคืฉื•ื˜ื•ืช.
06:53
This represents a breakthrough innovation
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ื–ื” ืžื™ื™ืฆื’ ื—ื“ืฉื ื•ืช ืคื•ืจืฆืช ื“ืจืš
06:56
for any industry predicated on royalty payments,
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ืขื‘ื•ืจ ื›ืœ ืขื ืฃ ืฉืžื‘ื•ืกืก ืขืœ ืชืฉืœื•ืžื™ ืชืžืœื•ื’ื™ื,
06:59
such as publishing or music.
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ื›ื’ื•ืŸ ื”ื•ืฆืื” ืœืื•ืจ ืื• ืžื•ื–ื™ืงื”.
07:02
And just as blogs and MP3s re-architected, these industries in decades past,
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ื•ื‘ื“ื™ื•ืง ื›ืคื™ ืฉื‘ืœื•ื’ื™ื ื•ืงื‘ืฆื™ MP3 ืขื™ืฆื‘ื• ืžื—ื“ืฉ, ืืช ื”ืชืขืฉื™ื•ืช ื”ืืœื” ื‘ืขืฉื•ืจื™ื ื”ืื—ืจื•ื ื™ื,
07:08
NFTs will catalyze their next evolution.
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NFTs ื™ื–ืจื–ื• ืืช ื”ืื‘ื•ืœื•ืฆื™ื” ื”ื‘ืื” ืฉืœื”ื.
07:13
The internet dissolved our geographic boundaries.
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ื”ืื™ื ื˜ืจื ื˜ ืžื•ืกืก ืืช ื”ื’ื‘ื•ืœื•ืช ื”ื’ื™ืื•ื’ืจืคื™ื™ื ืฉืœื ื•.
07:17
NFTs dissolve economic boundaries.
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NFTs ืžืžื•ืกืกื™ื ืืช ื”ื’ื‘ื•ืœื•ืช ื”ื›ืœื›ืœื™ื™ื.
07:21
Yatreda, an Ethiopian artist collective, created these beautiful portraits
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โ€œื™ื˜ืจื“ื”โ€œ, ืงื•ืœืงื˜ื™ื‘ ืืžื ื™ื ืืชื™ื•ืคื™, ื™ืฆืจ ืืช ื”ื“ื™ื•ืงื ืื•ืช ื”ื™ืคื™ื ื”ืืœื”
07:25
of heroes and heroines from Ethiopia's past.
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ืฉืœ ื’ื™ื‘ื•ืจื™ื ื•ื’ื™ื‘ื•ืจื•ืช ืžื”ืขื‘ืจ ืฉืœ ืืชื™ื•ืคื™ื”.
07:29
They sold them as NFTs,
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ื”ื ืžื›ืจื• ืื•ืชื ื›- NFTs,
07:31
and in one weekend, they made 13 ETH, or the equivalent of over 40,000 dollars.
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ื•ื‘ืกื•ืฃ ืฉื‘ื•ืข ืื—ื“ ื”ื ืขืฉื• 13 ETH, ืื• ืฉื•ื•ื” ืขืจืš ืœื™ื•ืชืจ ืž -40,000 ื“ื•ืœืจ.
07:37
And they were paid out instantly.
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ื•ื”ื ืฉื•ืœืžื• ืžื™ื™ื“ื™ืช.
07:39
No customs, no foreign exchange, no international wire transfers.
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ืื™ืŸ ืžื›ืก, ืื™ืŸ ืžื˜ื‘ืข ื—ื•ืฅ, ืื™ืŸ ื”ืขื‘ืจื•ืช ื‘ื ืงืื™ื•ืช ื‘ื™ื ืœืื•ืžื™ื•ืช.
07:45
An artist collective based out of Addis Ababa
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ืงื•ืœืงื˜ื™ื‘ ืืžื ื™ื ืฉืžืžื•ืงื ืžื—ื•ืฅ ืœืื“ื™ืก ืื‘ื‘ื”
07:48
has the same economic tools at their disposal now
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ื”ื•ื ื‘ืขืœ ืื•ืชื ื›ืœื™ื ื›ืœื›ืœื™ื™ื ืฉืขื•ืžื“ื™ื ืœืจืฉื•ืชื• ื›ืขืช
07:51
as an artist in LA, New York or London.
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ืฉื™ืฉ ืœืืžืŸ ื‘ืœื•ืก ืื ื’โ€™ืœืก, ื ื™ื• ื™ื•ืจืง ืื• ืœื•ื ื“ื•ืŸ.
07:56
And while the NFTs for Nyan Cat and Yatreda
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ื•ื‘ืขื•ื“ ืฉื”- NFTs ืขื‘ื•ืจ ื ื™ืืŸ ืงืื˜ ื•ื™ื˜ืจื“ื”
08:00
were created and sold on the same platform,
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ื ื•ืฆืจื• ื•ื ืžื›ืจื• ืขืœ ืื•ืชื” ืคืœื˜ืคื•ืจืžื”,
08:02
they're not confined there -- remember: information wants to be free.
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ื”ื ืœื ืžื•ื’ื‘ืœื™ื ืœืฉื - ื–ื›ืจื•: ืžื™ื“ืข ืจื•ืฆื” ืœื”ื™ื•ืช ื—ื•ืคืฉื™.
08:08
And unlike the current internet,
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ื•ื‘ื ื™ื’ื•ื“ ืœืื™ื ื˜ืจื ื˜ ื”ื ื•ื›ื—ื™,
08:10
where information is made available through proprietary apps and platforms,
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ื”ื™ื›ืŸ ืฉื”ืžื™ื“ืข ื–ืžื™ืŸ ื‘ืืžืฆืขื•ืช ืืคืœื™ืงืฆื™ื•ืช ื•ืคืœื˜ืคื•ืจืžื•ืช ืงื ื™ื™ื ื™ื•ืช,
08:15
NFTs are portable.
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NFTs ื”ื ื ื™ื™ื“ื™ื.
08:17
Instead of living on a company's private servers,
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ื‘ืžืงื•ื ืœื—ื™ื•ืช ืขืœ ืฉืจืชื™ื ืคืจื˜ื™ื™ื ืฉืœ ื—ื‘ืจื”,
08:20
They live on decentralized infrastructure that is peer to peer,
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ื”ื ื—ื™ื™ื ืขืœ ืชืฉืชื™ืช ืžื‘ื•ื–ืจืช ืžืกื•ื’ ืขืžื™ืช ืœืขืžื™ืช,
08:23
open and transparent.
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ืคืชื•ื—ื” ื•ืฉืงื•ืคื”.
08:26
But understanding this complex decentralized infrastructure
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ืื‘ืœ ื”ื‘ื ืช ืชืฉืชื™ืช ืžื‘ื•ื–ืจืช ืžื•ืจื›ื‘ืช ื–ื•
08:30
is not a prerequisite to understand what NFTs unlock for the human experience.
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ืื™ื ื” ืชื ืื™ ืžื•ืงื“ื ื›ื“ื™ ืœื”ื‘ื™ืŸ ืžื” NFTs ืคื•ืชื—ื™ื ืœื—ื•ื•ื™ื” ื”ืื ื•ืฉื™ืช.
08:37
Once digital value and ownership are no longer the sole domain
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ืžืจื’ืข ืฉืขืจืš ื“ื™ื’ื™ื˜ืœื™ ื•ื‘ืขืœื•ืช ืื™ื ื ืขื•ื“ ื”ื“ื•ืžื™ื™ืŸ ื”ื™ื—ื™ื“
08:40
of a few corporations,
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ืฉืœ ื›ืžื” ืชืื’ื™ื“ื™ื,
08:42
radical new possibilities emerge.
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ืฆืฆื•ืช ืืคืฉืจื•ื™ื•ืช ืงื™ืฆื•ื ื™ื•ืช ื—ื“ืฉื•ืช.
08:44
In other words, 30 years later, NFTs finally solved John Perry Barlow's riddle.
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ื‘ืžื™ืœื™ื ืื—ืจื•ืช, 30 ืฉื ื” ืžืื•ื—ืจ ื™ื•ืชืจ, NFTs ืœื‘ืกื•ืฃ ืคืชืจื• ืืช ื—ื™ื“ืชื• ืฉืœ ื’โ€™ื•ืŸ ืคืจื™ ื‘ืืจืœื•.
08:51
And this isn't science fiction; the technology already works.
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ื•ื–ื” ืœื ืžื“ืข ื‘ื“ื™ื•ื ื™; ื”ื˜ื›ื ื•ืœื•ื’ื™ื” ื›ื‘ืจ ืขื•ื‘ื“ืช.
08:54
NFTs are already being used
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NFTs ื ืžืฆืื™ื ื›ื‘ืจ ื‘ืฉื™ืžื•ืฉ
08:56
by the next generation of internet pioneers.
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ืขืœ ื™ื“ื™ ื”ื“ื•ืจ ื”ื‘ื ืฉืœ ื—ืœื•ืฆื™ื ื‘ืื™ื ื˜ืจื ื˜.
08:59
And in the coming decade, NFTs will reshape the internet as we know it,
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ื•ื‘ืขืฉื•ืจ ื”ืงืจื•ื‘, NFTs ื™ืขืฆื‘ื• ืžื—ื“ืฉ ืืช ื”ืื™ื ื˜ืจื ื˜ ื›ืคื™ ืฉืื ื• ืžื›ื™ืจื™ื ืื•ืชื•,
09:03
with property rights baked into its code.
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ืขื ื–ื›ื•ื™ื•ืช ืงื ื™ื™ืŸ ื˜ื‘ื•ืขื•ืช ื‘ืงื•ื“ ืฉืœื•.
09:07
So what does the internet of the future look like
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ืื– ืื™ืš ื”ืื™ื ื˜ืจื ื˜ ืฉืœ ื”ืขืชื™ื“ ื™ืจืื”
09:09
with NFTs as its building blocks?
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ืขื NFTs ื›ืื‘ื ื™ ื”ื‘ื ื™ื™ืŸ ืฉืœื•?
09:12
An internet where economic control rests in the hands of creators, not platforms.
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ืื™ื ื˜ืจื ื˜ ืฉื‘ื• ื”ืฉืœื™ื˜ื” ื”ื›ืœื›ืœื™ืช ืžื•ื ื—ืช ื‘ื™ื“ื™ ื™ื•ืฆืจื™ื, ืœื ืคืœื˜ืคื•ืจืžื•ืช.
09:18
An internet where our ideas and creativity can be directly supported.
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ืื™ื ื˜ืจื ื˜ ืฉื‘ื• ื”ืจืขื™ื•ื ื•ืช ื•ื”ื™ืฆื™ืจืชื™ื•ืช ืฉืœื ื• ื™ื•ื›ืœื• ืœื”ื™ืชืžืš ื™ืฉื™ืจื•ืช
09:24
An internet where information can be free,
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ืื™ื ื˜ืจื ื˜ ืฉื‘ื• ื”ืžื™ื“ืข ื™ื›ื•ืœ ืœื”ื™ื•ืช ื—ื•ืคืฉื™,
09:28
but where we get paid for the work we do with our minds.
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ืื‘ืœ ืื™ืคื” ืฉืื ื—ื ื• ืžืงื‘ืœื™ื ืชืฉืœื•ื ืขืœ ืขื‘ื•ื“ืช ื”ืžื™ื™ื ื“ ืฉืื ื• ืขื•ืฉื™ื.
09:32
Thank you.
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ืชื•ื“ื”.
09:34
(Applause)
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(ืชึฐืฉืื•ึผืื•ึนืช)
ืขืœ ืืชืจ ื–ื”

ืืชืจ ื–ื” ื™ืฆื™ื’ ื‘ืคื ื™ื›ื ืกืจื˜ื•ื ื™ YouTube ื”ืžื•ืขื™ืœื™ื ืœืœื™ืžื•ื“ ืื ื’ืœื™ืช. ืชื•ื›ืœื• ืœืจืื•ืช ืฉื™ืขื•ืจื™ ืื ื’ืœื™ืช ื”ืžื•ืขื‘ืจื™ื ืขืœ ื™ื“ื™ ืžื•ืจื™ื ืžื”ืฉื•ืจื” ื”ืจืืฉื•ื ื” ืžืจื—ื‘ื™ ื”ืขื•ืœื. ืœื—ืฅ ืคืขืžื™ื™ื ืขืœ ื”ื›ืชื•ื‘ื™ื•ืช ื‘ืื ื’ืœื™ืช ื”ืžื•ืฆื’ื•ืช ื‘ื›ืœ ื“ืฃ ื•ื™ื“ืื• ื›ื“ื™ ืœื”ืคืขื™ืœ ืืช ื”ืกืจื˜ื•ืŸ ืžืฉื. ื”ื›ืชื•ื‘ื™ื•ืช ื’ื•ืœืœื•ืช ื‘ืกื ื›ืจื•ืŸ ืขื ื”ืคืขืœืช ื”ื•ื•ื™ื“ืื•. ืื ื™ืฉ ืœืš ื”ืขืจื•ืช ืื• ื‘ืงืฉื•ืช, ืื ื ืฆื•ืจ ืื™ืชื ื• ืงืฉืจ ื‘ืืžืฆืขื•ืช ื˜ื•ืคืก ื™ืฆื™ืจืช ืงืฉืจ ื–ื”.

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