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Mike Demarais

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2021-12-27
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2021-12-27
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  1. “corporate structures available to everybody right so whether you're a small business whether you're trying to create some sort of like you know large network like uber there's advantages to the flexibility of like you know it's like remixing your corporate structure with a click of a button right like doing that today is incredibly difficult like you know changing around how you know your corporate structure works today is like difficult it requires lawyers and honestly if you're like a small business you don't really know how to do that so i think that that that is definitely within our future but i think that you know our politicians don't really know how to use email today so i think that in reality there needs to be uh you know it's going to take some time for regulatory clarity to happen on kind of like real world dow you know experiments”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “I think in the far off future that it's definitely an inevitability, I think that the biggest obstacle there is actually regulation. Personally, I think that that stuff is a little bit of a pipe dream today for two reasons. One is technical and the second is regulatory. I think that there's a lot of improvements needed to the tooling and infrastructure available to DAOs to actually enable that. Like using a DAO today is pretty clunky. and would not scale to the size of like, you know, imagine if every Uber driver wanted to vote on some sort of company policy today, that would be really difficult to do via a DAO. But I think that there's merits to the idea of new corporate structures enabled by tokens. That's honestly how I've thought about this from the beginning, right? It's like there can, you know, this technology can honestly enable like a new renaissance in capitalism where there's entirely new.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Tracy, I got to get my assistant to get that over to you. I'm so sorry. But yes, I have been keeping those safe for you guys for a long time. I knew that someday you would want them.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “It's crypto Twitter is one of the funniest places. And yeah, I mean, we have somebody on the team today whose title, you know, it's like our official job offered to them. Their title is memes, et cetera, right? So it's like memes are a super vital part of building in crypto. It's essentially our flavor of marketing whether any CIA agent is looking to leave the agency for a career change. I mean, we're more than happy to talk. It's like memes are a skill. You have to be good. And some people out there are playing some real good 4D chess and with the memes. And we respect that. Yeah. So if you've got the skills”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “I mean, yo, I don't know. I heard Reality Winner is out of jail or whatever. So, you know, she's looking for a job. She can hit me up. No, I mean, listen, I think that memes are fundamental to crypto. I think that it's honestly what keeps people involved is just like.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Honestly, I think that this experience is pretty unique to me because I've kind of, you know, part of my recruiting tactics has been to, you know, really turn it into a meme, I think that that's kind of what's happening here is, you know, I do think that labor is the bottleneck and not capital. Honestly, there is an abundance of capital. Most of it is undifferentiated capital. Yeah, from the labor side of things, there is a huge talent drought, but more and more people are jumping ship from Fang and joining the space, which is really exciting. But yeah, I think that I kind of asked for this whole like, you know, VC trickster games. I kind of brought that upon myself with my recruiting memes.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “social investors. But yeah, I mean, the space is definitely heating up. I think that like, you know, people are trying to get us to raise more money right now. We're not interested. But yeah, I mean, it's definitely a good time to raise money, I'd say.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Yeah, they are very thirsty right now. There's been a lot of attention. I think that all of a sudden this year, people who hadn't been paying attention realize that the stuff is real and not going away. I got VCs in my DMs pretending like they're willing to quit their job to come join the Rainbow team. But then halfway through the conversation, they switch it up and they're like, hey, actually, nah, can we invest? And I'm like, what are you talking about? So, yeah, I mean, there's a lot of VC attention. What's crazy though is that Rainbow in particular, we had very little interest from kind of the crypto OG money, right? Like the big crypto funds really didn't understand Rainbow and broadly have like misunderstood the wallet product and the wallet opportunity. So Rainbow's raised money mostly from consumers.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Going to take a lot for these other competing platforms to really build up the same level of ecosystem that Ethereum has, right? Like how many Solana wallets are there, right? Well, in the world of Ethereum, it's like as a user, you can choose from 10 wallets, right? Obviously, Rainbow's number one, but you actually have a number of pretty solid alternatives. Whereas some of these other chains, you really don't have anything to choose from, right? There might only be one platform for, you know, buying and selling NFTs, right? Whereas in Ethereum, there's like already a competitive, you know, ecosystem. So yeah, I don't know. I think that like big brands are attracted to some of these other chains as well because of their ability to handhold them through the experience.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “All I mean is like, you know, low dollar amount, right? Where if you're paying half a million dollars for a crypto punk, the transaction fee is really not something you're thinking about. Whereas if you're talking about $25 NFTs from a major brand that you are a fan of, that activity, we see that more likely happening on one of these chains with cheaper fees. But yeah, I mean, we're just really big believers in the network effects of Ethereum, which is something that I feel like is under discussed. Yeah, I mean, all these other chains like Solana are really starting their network effects from zero, which is, you know, totally fine. It's just that it's.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Yeah, exactly. There's a network effect there. And I'm not a crazy maximalist or anything. If anything, I honestly kind of consider myself like, you know, approach this stuff pretty conservatively. When we started Rainbow, people were trying to pay us to integrate various chains, right? Like, why don't you support EOS? Why don't you support Tezos, et cetera? And it would have been a bad idea to have supported those things out of the gate because it comes to the detriment of the product, right? It's just like additional scope that you have to add. It takes away from your focus. There's other chains that are cheaper that are more compatible with Ethereum, right? That actually respect the interoperability. So things like Polygon, things like Arbitrum, et cetera. And we think that that's where a lot of this more low value type of activity is going to happen. When I say low value,”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “I think that there's an appeal right now for these systems that have cheaper gas fees. But it's not truly just about decentralization. That's not the only trade-off. There's like the reliability aspect as well. And you have to think which one of these systems will definitely exist in five or ten years from now.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “There has been some interesting traction happening over in the world of Solana. One of the things to consider when assessing one of these chains is simply the ecosystem itself. One of the biggest values about Web3, and so it's like, I have an Ethereum wallet. The nice thing about an Ethereum wallet is that it's compatible with so many different things. It's like all of the assets within it are interoperable with each other and all of the applications targeting Ethereum can interact with those assets. And if most of your assets are over here in Ethereum, but then you want it to go by that Michael Jordan NFT over on Solana that actually creates this weird fragmentation where now it's like you have assets over there, assets over here that are incompatible with each other.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “Yeah, very much. Yeah, I mean, it's similar to, I don't know, it's like you meet a hipster and they're like, yeah, I like that band. Like 60 ETH or something. Like Joe, I'm sitting, you know, my day is mostly sitting on Twitter, right? And how do you express yourself on Twitter or in these digital places? And NFTs are a really great way to do that. I don't exclusively tie them to like wealth or status. I think of it more as self-expression to a degree. But yeah, I mean, I think honestly that they're just like fun collectibles. You know, some people collect anime dolls or, you know, baseball cards like whatever. And yeah, NFTs just like are a new thing.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Whole system ends up with something looking like kind of the way that it essentially creates something close to Yeezys, right? Or kind of like supreme where you have this limited edition run product. that it's like, yeah, it's like memorabilia. But what's cool about UnisOx is like instead of buying Yeezys and then sitting on them and hoping that the price appreciates and then like having to mail the physical box, what's nice with Unisox is you can just trade the token back and forth if you're there to purely speculate on the price of that thing instead of having to custody the box you can just trade the token back and forth and the box sits where it is, right? So it's a really interesting experiment in kind of like bringing markets or making markets more efficient in non-traditional markets. I think the closest analogy to Unisox is like high-end steakers in that whole culture. It's something that crypto OG is like, you know, uses a status symbol, I guess.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Yeah, so Unisocs are somewhat similar to NFTs and really they're collectibles, right? Really, that's what an NFT is and that's what UnisOx are. Unisocs are instead what's called an ERC-20 token. So they're more of like, you know, a currency than an NFT is. But yeah, what Unisox are was this really silly experiment done by the Uniswap team back in 2019 as a demonstration of the Uniswap protocol. So, what UnisOCs are is basically like merch for Uniswap, the company. It's branded socks. And what they did was they created 500 pairs of socks and then 500 socks tokens and put them on Uniswap, which is a decentralized exchange. Anyone in the world can buy and trade the SOX token, and at any time you can take one full socks token and redeem it, meaning it gets burned. And then the Uniswap team will mail you a pair of the socks.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “So there's other things you can do with NFTs as well, purely from a functional perspective. For example, there's Rainbows interested in potentially doing a KYC NFT, right? Where essentially once you've been KYC'd to access our fiat on-ramp, we could issue an NFT that says, hey, this is a real human who has gone through the KYC process and third parties could use that token or the existence of it, for example, to unlock further functionality in their app, right? So you might have some feature in your app and you really don't want it to be botted, right? You don't want it to be like, you know, someone in an automated way to take advantage of it. And you could use the KYC NFT to only let humans through, right? That whole concept was really pioneered by this company wire a few years ago, but no one ran with it. NFTs, yeah, you really have to be a collector.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “Yeah, I think that NFTs are just like crypto in general, which I find to be an asset that almost comes with that scene built in, right? Like from the beginning, crypto assets tend to kind of evoke almost a religious zeal from people, right? Where it's like you are now, you've bought into this thing and you have this vision for the future of that thing. And it comes with it ideology. It comes with it, whatever belief system. And I think that NFTs are largely similar to that. NFTs will be a part of people's lives, whether they realize it or not in the sense that, you know, the ENS names that we were talking about before, those are actually NFTs. That's how they functionally work is that they are NFTs. Whether or not, Joe, you'll be collecting cartoons. Who cares, right? Like, I think.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “So I think that, yeah, NFTs, it's either you kind of get them or you don't. I think that, well, Joe, are you a collector of anything, I guess? Yeah.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “It's immediate user base. We think that's okay. We've been here for years, honestly. It's blown my mind the, you know, the interest that Rainbow has gotten over the last year. And we wouldn't have expected this level of adoption to have happened so soon. So honestly, if anything, yeah, like we're excited and this is going way better than we thought. So the gas fees, they'll go down. We're sure.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “These things, it's our strategy to really focus on creating the most unbounded featureful product kind of at the expense of the affordability. And the reason why is because once these technologies come along that allow Ethereum to scale more affordably, our product will be able to easily adopt those things, right? Whereas if we focused exclusively on making gas fees cheaper in rainbow, it would actually mean that rainbow would have an extremely small subset of its current features because only so many things actually work on those layer twos, et cetera. So where of the belief that it's okay that gas is a little expensive and that we would rather have, yeah, like as many cool things to do in Rainbow as possible, you know, and if that potentially limits its”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Yeah, it definitely sucks how expensive gases these days. So it is an impediment. It, like, meaning, you know, not everybody, if everyone in the world used Ethereum today, it'd be bad, right? So it's almost like it is inherently not ready for everybody. There are a number of solutions that are very exciting that we think we'll largely solve that problem and the timelines on those things are anything from six months to a year and a half, right? In the meantime, though, we really think that it's okay that gas is expensive and we largely view this as perhaps a little bit of a like a luxury experiment, right? That this is really like, this is experimental stuff. Maybe it's a little bit of a luxury good as far as like the affordability of playing around with.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “It'd be pretty trivial for the community to reboot the storage of that media type, right? So yeah, I think that as far as like the permanence of that data, that's something that people are very, very interested in. And there's a number of novel improvements that people are working on right now. So it's like it's an ongoing kind of like R&D effort.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “of where that NFT data is stored. So, for example, Cryptokitties, one of the original NFTs, the data for the crypto kitties images are actually being stored on something similar to Amazon web services, right? Now that might seem problematic, but in fact, there's actually a number of ways that that's really not that problematic. So say the crypto kitties community, you know, so they all love the kitties. Everyone is obsessed with the kitties. If Dapper Labs, the creator of crypto kitties, went out of business tomorrow and stopped paying their AWS bills, the community itself could easily recreate the entire thing, meaning as long as one person or a couple of people have essentially like, you know, mirrored or, you know, archived all of the images and the associated token IDs that they're matched with.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Me think there's two approaches to NFTs and the way that the data is actually stored. So there's one path in which the content itself, right, that whatever the graphic or media is. So that can actually be stored directly on chain using SVGs. So you know SVG as like an image format. You know, it's similar to PNGs, except it's like lossless. So examples of NFTs that are completely on chain with SVGs are things like loot or blit maps, you know, Avastars. And that's ideal because those are the most immutable and the most permanent. The other path for storing NFT data is essentially keeping a record on Ethereum that points to the third party location.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “where it wasn't open to everybody and it was instead something that you had to use tokens to vote on which writers you know were able to actually write on the platform so i think that i don't know web3 i'd say it's one it's kind of this like fun living kind of like democratic experiment in a lot of ways so it's it's as a user you're able to kind of it feels like you're participating in every step of the way”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “So, I mean, it's a couple things. Right now, Web3 is about having fun. It's about having fun the same way that playing around on the early internet was very fun. It really sparks your curiosity and it kind of, yeah, right now Web3 is about like remixing and having fun. Now, broadly, I'd say the big difference is the ability for content creators to monetize directly with their audience in a super streamlined and undisturbed way as far as like there's no middlemen. What is mirror? Mirror is a like a content platform. It's similar to medium. In the beginning,”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “You know, I think the term Web3 was a brilliant idea. I don't have any issues with it. I think it's fine. Honestly, it's pragmatic. I think that perhaps to a certain demographic, certain nomenclature maybe has been tainted by bad preconceptions about use cases, et cetera, right? Like, is crypto just for drugs and terrorists or whatever? And that's, you know. Obviously, a poor framing because that's just not the reality. So Web3 is nice in that regard.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “There's a number of these platforms and OpenSea also has their own profile system, right? They have their own username system and their own bio system. So I don't know if they're the best example of a compatible platform with this portable profile concept. I'd say like mirror and Uniswap are better examples of applications that are more tightly integrated with this idea of a portable profile.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “a third-party application is actually decentralized or neutral, et cetera, that's up to them and you as a user can choose to use that platform or not, right? So OpenSea definitely has taken a strong approach with DMCA takedowns and I guess moderating the content on OpenSea. But in that in no way does that actually take away from the power you have as an ENS user Yeah, so the data on your ENS name is actually decentralized and immutable. So what you can do is even you can configure your ENS name and actually destroy the ability for that data to ever be updated into the future if you'd like right so what that actually means is that you can you can kind of like set it in stone and truly make it you know unalterable if you if you so like”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “So basically Solana could read that data off the Ethereum blockchain. And even today with ENS, you are able to configure essentially any blockchain's address and have it attached to your ENS name. So ENS is actually less hyper Ethereum-centric as it might seem. But in the end, it's our belief that Ethereum is here to stay, whether or not other platforms continue to see growth. That's secondary that we think that Ethereum is here to stay and therefore building a profile on Ethereum is the most conservative long term centric place to do it. The second question is as far as like, you know, how decentralized is this? What's nice about ENS and this whole concept of Ethereum as a login is, again, it puts the control in your hands and whether or not”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “Great question. So, to the first part of your question, what happens if a contender blockchain on CETA's Ethereum, what happens then? So that's a good question. ENS, which is really what I guess the community is rallying around and has seen the most adoption so far, it's actually designed and implemented in a way that is agnostic to Ethereum.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Pre filled data in your profile on all of those various sites. Social networking will begin to get eaten away by crypto, but I do think that there's fundamental things that need to happen before that's like really viable.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “Yeah, I definitely think that it's going to be iterative, right? I don't think that cryptocentric social networking is ready to go. Right now where we're at is basically people are really loving this idea of portable social profiles, which I guess is really a subset of social networking, right? So you don't have your entire social graph today on Ethereum. You don't have all of friends and followers, et cetera. But what you do have is essentially a user profile that you can share across applications, right? So you can have your avatar, your user bio, you know, relevant links that you have, your Twitter, your GitHub, et cetera. You could fill that all in once on your ENS name and any application that would like to is able to then respect that data, right? And essentially use that as the”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “Which is something popping on Discord these days. So on Discord, you can have a channel where people can join your channel only if they hold a token of a certain type. So whether that's an NFT, whether that's Unisox, whatever, basically you can have communities online now that you have to, the contents of your wallet are your ticket to enter the community. So I'd say the best answer to your question is, yeah, while it's kind of being used more and more for closer to the concept of keys.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “We actually think about crypto today as being really like a Trojan horse for getting public key cryptography into the hands of regular average people. So right now it's like the things attracting people to crypto is kind of speculative finance. And there's nothing wrong with that. That's great. But in the future, what you can do once you have keys in your pocket, aka like a wallet in your pocket, is do more things like use it as your identity to various degrees. So some of the more exciting things happening with that right now is, yeah, like using your Ethereum wallet as a login. If you've ever logged, you know, if you've ever used Uniswap, you'll notice that there's no login experience. You're simply connecting your wallet. That's been taking off that user flow has been taking off a lot lately via this concept of token-gated communities.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “Well, so that behavior is exactly what we think more people should be doing. We think that like the best way to learn about this stuff is to honestly just play around. The product rainbow has been designed, honestly, to encourage that.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “Rainbow is an Ethereum wallet and it supports all of the different types of assets that can exist on Ethereum. So that can be everything from ERC 20 tokens, some DeFi governance tokens, things like that, stablecoins, things of that variety, as well as NFTs. And additionally, it also surfaces DeFi positions that you might have. So if you go and deposit your money in one of these platforms, we recognize that. And essentially, throw a custom interface up that lets you, you know, see more information about those particular positions because it's like when you actually deposit your assets in these DeFi protocols. Your assets are technically, they leave your wallet. So it's like MetaMask is unaware of your money when you go and deposit it into one of these DeFi protocols. So it's like, you know,”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “Both my co founder and I have little brothers and very much Rainbow has been designed to kind of be something that they vibe with. So that's always been our gut check.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “I think so. It was like with the stylus with the little start menu. It's like, you know, you can say that that's a smartphone, but really like, you know, the iPhone came around. And even though on a spec list, right? Oh, it looks like it hits all the same specs as a Windows mobile phone. But in reality, it was like the design of the iPhone really unlocks this new type of product, right? It was like there's a fore and after moment. And we sort of think about Rainbow in the same way. It's like functionally, you know, similar or nearly identical to other wallet products in its capabilities. But the way that the product is packaged, we think it's more fun and accessible and less scary. But yeah, I mean, the way that we approach design in general is first and foremost, we are trying to make something that my little brother would use is always my example used.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  41. “Man, it sounds so cliche. But I think that people have been stuck in kind of an old paradigm of thinking where they've been used to the existing crypto products. And everyone in this space is such a big nerd that it's hard for them to imagine new styles, right? Nude styles of products. What I mean by that is MetaMask and other wallets kind of are all following the same. Almost like utilitarian approach to the product. And no one has really tried to imagine it differently. It feels like there just hasn't been a real attempt. It's so cliche. I think that the example I always point to is, you all remember Windows mobile phones.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  42. “100%. What's crazy is about like with Web3, there's just simply no user modes. You're using Facebook is because the network effects that Facebook has built up. Hard for a challenger to come in. With those network effects, but with Ethereum, you know, and the portability of your keys, a user can eject from a wallet and start using another wallet in moments, and there's nothing locking them in to a particular product. That basically the product Which to us means design is really the core differential. These products, and really the only way to”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  43. “Yeah, I definitely think so. I think other people, you know, sometimes they say, oh, it feels like Snapchat or Tumblr as well. I think that, yeah, I think that Rainbow stands out for being obsessively focused on fun and delightful experiences. And yeah, we're really a design first company. But yeah, I definitely see the analogy for sure. All the hip kids are on rainbow.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source

  44. “I'm on my second Duncan right now. Feeling good. I feel it's a good number. You know, this is pretty early for me. I'm normally, you know, still up at the 5 a.m. what I'd mistweet. You know what I mean? Normally, I'm the first reply. So this is big.”

    2021-12-27 · Odd Lots · Mike Demarais on Design in Crypto and What Web 3.0 Will Look Like · IDENTIFIED FROM THE TRANSCRIPT · source