How to talk to your family about Web3, this holiday season.

3. “Alright, calm down there champ…no need to get all riled up. So when will we see this fancy new version of the Web?”

Answer: Honestly, you probably won’t notice most of it happening.

It will first be adopted by the die-hards, who will put up with its crappy user experience, and push for it all to be polished & refined.

Then, by the time ‘everyone’ is using it, it’ll hopefully feel similar to any other app…but with the perks of blockchain infrastructure.

For example, crypto banking (DeFi) might look like classic banking, but it won’t feel like it.

Payments will be instant, transaction fees will be like…100th of a cent? Loans will be automated, and the interest you earn on your holdings will be 10-20x what banks are currently offering.

(It’s a dry topic – with a big change).

…but who cares about banking, you’re a gamer right?

[NOTE: Terry is very much also a gamer, he LOVES Call Of Duty]

Imagine being able to keep all of your earned items & skins from COD, across different titles and consoles – where you’ll even being able to sell your rare items on the open market.

That will be done through NFTs.

A bunch of cool features like this will start popping up over the next 5-10 years, and they’ll all be quietly powered by blockchain technology.

4. “Ok, fair play, you got me there – that sounds alright…but what about Bitcoin (the golden child of the space)? It feels like it’s backed by nothing but belief.”

Answer: Sort of. It’s more utility (a robust payments system and a deflationary currency) paired with belief.

Kinda like the stock market.

How can Tesla’s stock be worth 50x what the company actually makes in revenue per year?

Sure their products and services offer utility, but how can the stock be worth SO much more?

Because people believe the utility offered by Tesla’s products is going to grow over time.

Same goes for Bitcoin.

5. “Did you try Sue’s potato salad?”

Answer: Yeah, it’s killer.

[NOTE: Sue is Terry’s wife, so that answer is obligatory]