In this era of fake news, how do you determine what is true? Join Al Morris of Koii Network, who is providing people with the tools to create scalable, decentralized media networks. Learn how they synergize with Arweave and how their NFT standards enable content creators to be paid for their work.
- Blockchain institute is his passion project for the last 4 years
- Before that, he was working in industrial robotics, building automation systems for large brands like Kraft Heinz, etc.
- Was in the US at the beginning of the 2016 election. Saw people parroting bad information and not knowing what they were talking about
- Looking for a way to use blockchain to reshape media
Joining Outlier Base Camp
- When they first pitched to Outlier, they were pitching the GoldFish service, a network of nodes on people’s computers that would allow users to scrape the internet in the same way that Google does it
- This will help them to identify good content and fake news/bad information
- Scott from the Base Camp program recommended they speak with Arweave, an archival blockchain
- Arweave suggested creating rewards, leading them towards the attention economy
- StoreCat, their decentralized webscraping product is alive and on Koii
What Is Arweave And How Does It Benefit Koii?
- Arweave is a decentralized file storage network
- Everyone is incentivized to store the content for as long as possible
- Koii allows you to create composable proof-of-stake games inside this permanent storage layer
- Is more flexible than Ethereum
How Koii Enables Truly Decentralized Apps At Scale
- There are 2 assumptions that everyone is making that may not be true:
- Ethereum is Turing-complete
- Transaction speed is really important
- Koii is built for media and people
- Uses a gradual consensus mechanism. Each piece of information in the network can build up a certain amount of clout:
- Node does a task
- Other nodes can opt-in and support it
- Their network is more eco-friendly, does not have a transaction limit, and can run batches of transactions in parallel
- Reduces the cost of creating NFTs by 1000%
- The NFT itself and the media are stored on Arweave
- The assets will be stored forever and continue to be interoperable and interactive because Koii tasks are decentralized
- Dynamics NFTs: they are similar to a normal atomic NFT, but have smart contract integrations that creates a bounty for a task
- The task incentivizes someone to make an update to the NFT over time
- Blooming of a Narcissus flower NFT from attention
- If it gets less attention, it will slowly close up
- Because of the attention rewards, it incentivizes someone to maintain this flower over time
“So the scarcest thing on the planet is actually attention. To some extent it disappears every second, right? There’s only so much of it and if you don’t capture it, it’s gone.”
– Al Morris
- Their tokens will be distributed based on attention
- Can have an ad network built on top of Koii, with value accruing to whoever creates the most attention on the network
What Is An Atomic NFT?
- They take the smart contract code and embed it into the actual media file itself
- This is different from most NFTs on Ethereum, where the media is stored separately
- With Koii, NFT owners will never lose the media assets
Their Collaboration With The Gaming Industry
- Collaborating with LeyLine, a group of former Activision Blizzard employees, who are building a way to gamify social good such as giving blood or volunteering
- Points earned could be used to evolve dynamic creatures in a game they have created
How Attention Works Within The Network
- Koii tokens are mined by creating attention and directing the Koii Network
- Goal is to create a virtuous cycle where people go out and speak about Koii Network and the apps that run on it
- Opening up their templates so that people can easily build on their network
- These templates could be used to create decentralized Twitter, decentralized YouTube, etc.
- Their atomic NFT standard records attention and pays content creators for it
Building A Decentralized Ad Network On Top Of Koii
- Anyone can build an ad network on Koii
- Will be updating their atomic NFT standard with an ad-bearing NFT standard
- As the NFT gets more views, the bounty will be paid out to the creator of the NFT
What New Business Models Does He See Emerging From The Attention Economy?
- In talks with groups building dynamic NFTs as a social hacking thing
- Making transparent and open systems so that more people can participate in these economies
- 10 ad networks is a lot less evil than than one giant ad network
- Goal is to give people the tools to build any app they want
How Can People Participate In Koii Network?
- Get the Finnie wallet
- Upload some NFTs and get rewarded for doing so
- Buy some tokens and stake them
- Participate in their economy
This podcast summary was prepared by The Reading Ape in collaboration with Outlier Ventures. The Reading Ape is a humble servant of the written word.
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