S4 Episode 9: Nick Abrahams from Norton Rose Fulbright on Web3, NFTs, Crypro, DAO and DeFi

Digitally Curious

If you've ever wanted a Masterclass in Web3, NFTs, Cryptocurrency, Decentralized Autonomous Organizations (DAO) and Decentralised Finance (DeFi) then this 45-minute podcast is for you!

I was fortunate to be able to convince Nick Abrahams, the Global Co-leader of Digital Transformation Practice at leading law firm Norton Rose Fulbright to come on the show and give us a very informative, no-nonsense look at some of the hottest topics in technology at the moment.

Nick is the founder of the successful online legal site, LawPath (90,000+ users) and he created the world's first AI-enabled privacy chatbot, Parker. He also has a thriving career as a keynote speaker on future trends and innovation.. He is the author of the best selling Kindle books "Big Data, Big Responsibilities" and "Digital Disruption in Australia".

He is on the boards of ASX-listed software company Integrated Research ($500M); the global genomics research leader, the Garvan Foundation; the Vodafone Foundation; and the Sydney Film Festival.

We had a whirlwind tour around Web3 and the many umbrella topics.

I started by asking him for some quick definitions of

• Web3
• Metaverse
• NFT
• Cryptocurrency
• Blockchain
• DeFi
• DAO

We then delved into each in more detail including

• Why is Web3 so important?
• Establishing ownership with Web3
• A 3-dimensional experience of the web
• How big could the Metaverse become?
• What does the Metaverse mean for corporates?
• Companies embracing the Metaverse
• Why is Facebook/Meta scared about the Metaverse?
• Are we being brainwashed by Facebook's view of the Metaverse?
• Things for brands to consider before they jump into the Metaverse
• Tokens as a new asset class
• The concept of Tokenomics
• Legal implications for the Metaverse
• The "MetaBirkin" that upset Hermès
• How the legal industry is coming up to speed

We spent some time on the different types of NFTs

• Flex Club NFTs
• Art NFTs
• Collectable NFTs
• Twinning NFTs
• Gaming NFTs
• Branded NFTs

We finished our discussion looking at

• How can corporates best manage NFTs?
• Cybersecurity concerns around NFTs
• What is the future of blockchain, bitcoin and distributed ledger technologies?
• What's the hottest thing in crypto at the moment?
• The future of DeFi - a parallel banking system
• Decentralised Autonomous Organizations (DAO)
• Staying up to date with all these concepts

If you work In a corporate, or for a brand and someone has asked “should we be in Web3/Crypto/Blockchain or have an NFT” then this podcast is for you.

If you’ve heard all these terms and thought aloud “I wish there was one place I could go for a no-nonsense view” then this podcast is for you.

More on Nick
Nick on LinkedIn

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Chapters

1. S4 Episode 9: Nick Abrahams from Norton Rose Fulbright on Web3, NFTs, Crypro, DAO and DeFi (00:00:00)

2. High level definitions (00:01:18)

3. Web3 (00:01:27)

4. Metaverse (00:01:44)

5. NFT (00:01:56)

6. Cryptocurrency (00:02:02)

7. Blockchain (00:02:16)

8. DeFi (00:02:26)

9. DAO (00:02:42)

10. Why is Web3 so important? (00:03:49)

11. Establishing ownership with Web3 (00:04:11)

12. A 3-dimensional experience of the web (00:04:50)

13. Web3 is the umbrella term (00:05:53)

14. How big could the Metaverse become? (00:06:05)

15. Throwback to Second Life (00:06:33)

16. What does the Metaverse mean for corporates? (00:08:50)

17. Play-to-earn gaming (00:09:24)

18. Gaming guilds concept (00:10:06)

19. Companies embracing the Metaverse (00:11:13)

20. Why is Facebook/Meta scared about the Metaverse? (00:13:10)

21. Are we being brainwashed by Facebook's view of the Metaverse? (00:14:20)

22. You need a reason to draw you into the Metaverse (00:14:55)

23. Things for brands to consider before the jump into the Metaverse (00:16:56)

24. Tokens as a new asset class (00:19:21)

25. The concept of Tokenomics (00:19:42)

26. Legal implications for the Metaverse (00:20:30)

27. The "MetaBirkin" that upset Hermès (00:20:36)

28. How the legal industry is coming up to speed (00:21:45)

29. Non Fungible Tokens (00:23:58)

30. NFT "price is right" gameshow (00:24:00)

31. Flex Club NFTs (00:24:35)

32. Art NFTs (00:26:15)

33. Collectable NFTs (00:26:55)

34. Twinning NFTs (00:27:45)

35. Gaming NFTs (00:28:08)

36. Branded NFTs (00:28:15)

37. The Bored Ape Restaurant (00:28:49)

38. NFT for ticketing (00:29:35)

39. The Twitter NFT fail (00:31:18)

40. How can corporates best manage NFTs? (00:33:10)

41. Cybersecurity concerns around NFTs (00:35:10)

42. What is the future of blockchain, bitcoin and distributed ledger technologies? (00:38:21)

43. Stable coins (00:39:07)

44. What's the hottest thing in crypto at the moment? (00:41:36)

45. Tokenomics (00:42:31)

46. Employee token option plan vs options (00:42:43)

47. The future of DeFi - a parallel banking system (00:43:17)

48. Decentralised Autonomous Organizations (DAO) (00:43:37)

49. Staying up to date with all these concepts (00:44:42)