The Future of Web3, AI and Entertainment at Elevate

Contents

Yesterday’s Elevate event was our biggest yet! Focused on the future of Web3, AI, and entertainment, Elevate was an opportunity to showcase our thought-leadership and future of Web3. Like with all our content, we’re guided by the question of how can Outlier, as the most active Web3 accelerator inform, inspire, and empower the Web3 community and the Web3 curious?

And that’s what the event was about. This conference was meant to give the audience a window into Outlier Ventures’ vision for the wider Web3 space: whether through panel conversations or the teams we accelerated this quarter, we’re working to open-source and share our view on Web3 in ‘23. 

Keep reading for a selection of best quotes and top trailers to watch.

Key Themes

  • The hype around AI doesn’t take attention away from Web3. Rather, the convergence of the two opens up important conversations for which Web3 can be the solution. For instance, ZK technologies can offer a privacy solution to data in AI
  • Decentralization is the only way to preserve user privacy as a result of the large amassment of Data by AI
  • AI builders are building in silo. We need a more free flow of information in order to build products that users need.
  • Generation Alpha will increasingly value content that they are involved in. With Generative AI, we’re seeing an explosion in user-generated content. At the same time, this generation is the most vulnerable to things like deepfakes and fake news

Must-Read Quotes

1. “We think [AI] is going to change the way games are built, it’s going to drastically lower the cost of creating content, 3D assets, game art, game codes…Smaller teams will be able to build experiences more AAA like”Timmu Toke, CEO and Co-Founder at Ready Player Me.

  • In Timmu’s panel with our CEO and Founder Jamie Burke, the two discussed the effect of AI on game development. AI can offer creators the tools to automate much of the routine tasks associated with development, allowing them to focus on the high-level thinking and design of these products; what we at Outlier call the 100x Founder. To read more about Composable Creativity and the effects that AI can offer founders, check out this article:

2. “AI has been around for 70 years, but it wasn’t available for startups and musicians, and entrepreneurs. Because it’s becoming more accessible for people, it dovetails nicely with this notion of an Open Data Economy. For people who are interested in new technologies, it becomes a nice trojan horse for other technologies, specifically decentralization, to break through more widely.” Rumi Morales, Partner and Board Member at Outlier Ventures

  • Rumi highlights the importance of this particular moment for Artificial Intelligence and how it can promote other decentralized Web3 technologies. With the proliferation of AI, new people are being drawn into the world of tech. In addition, new questions are arising over the centralization of control of data inputted and outputted from these models. Rumi explains how those conversations give way for Web3 and decentralized technologies to offer a solution. Rumi later explained that Web3 and AI are intimately tied up. Just like Jamie mentioned in conversation with NASDAQ earlier this week (see below), we are starting to see the plateau of Large Language Models (LLM) like ChatGPT which give way to Agent-Based Systems. And the only way to achieve that is through decentralization.
  • Listen to Rumi’s introduction at 1:21

3. Offering access to new tools is how I can make the thing I want to make work better and use it and focus on the important things. What are the tools in the space that can help me do that better – integrate into something there or build on top of – Jessica Berger, VP of Innovation at Publicis Media

  • Our panel discussion on the effects of AI on Creators focused on how creators, companies, and institutions are using new tools to lay the groundwork for a new creative economy. Jessica, who consults brands on trends in the creator landscape, explains how generative AI is empowering creators to do their work more effectively and open up their ability to build things that they otherwise wouldn’t have.
  • Watch the panel at 1:53:15

 4. “There are countless examples of using digital twins to do smart city development…The technology is quite mature, but previously it required a massive amount of investment. With Generative AI, you can use text to generate digital models instantly. The technology is still early but soon we will have text to digital models” – Christina Yan Zhang, CEO of The Metaverse Institute

  • As someone interested in the intersection of cities, tech, and AI, this one was a personal favourite of mine. Digital twins are one of the most exciting areas of the smart cities and medical techology field, and generative AI is allowing for an explosion of possibility. Creating digital models of real-world spaces allows professionals across disciplines to visualize those spaces better and ordinary people to render their own models. The issue, of course, is that generating digital models takes significant capital investment and time. With generative AI models, we will soon see everyday people be able generate these models with simple prompts. This will lead to an explosion in digital technology.
  • Watch the panel at 1:53:15

5. “The principle of Web3 is not being owned by the product but owning the product. Being decentralized increases innovation and competition” – Giovanni Petrantoni, CEO and Founder of Fragnova

  • We constantly get this question of “why Web3?” and “why is decentralization important”. Of course, there are countless answers we could give for this. But at the very least, decentralization allows for a more competitive system. Operating in a more bottom-up way incentivizes people to take ownership and initiative. It promotes taking risk and pushing boundaries.
  • Watch the panel at 1:53:15

Top Trailers: Must-watch videos from yesterday’s session.

We hope that events like this serve to inspire debate and give focus and energy on the future of the Web3 space. We like to say we are still early. For certain topics, though, the time is now. 

The question is, how do we distill that and bring it to the next billion users?

Above all, we would like to personally give a shout out to all of our panelists and participants. But more importantly, to the teams graduating from Base Camp: you are the bedrock of everything we do here at Outlier.

Congratulations and good luck!

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