English version by @naritaiki on Twitter

1. Creator Economy meets Crypto => Web3.0
NFT, DeFi, Metaverse, DAO and more
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Copyright © iscream, Inc. All rights reserved.
Taiki Narita
iscream, Inc
Nov 2021

2. iscream, Inc. - Who we are
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Copyright © iscream, Inc. All rights reserved.
Taiki Narita
CEO of iscream, Inc.
https://www.linkedin.com/in/taikinarita
• Before iscream, strategy and
BizDev for a social talent agency AlphaBoat LLC.
• 10yr+ experience of M&A and startup investment
at Tokyo & New York in Sumitomo Corporation
• MBA at Harvard Business School
• M. Eng. at Tohoku University
2018 2019 2020
Crypto/Blockchain service development
2021
• Developed MVP of Personal Data
Store app and done PoC test
Online school service development
• Started developing • Launched
1st product
• Incubated by Sumitomo
Corp. startup program
• Selected by 500
Startups KOBE
Empower individuals in the world to maximize their value
Mission
https://coperi.app
iscream is a service developer of Web3.0 related fields including Crypto/Blockchain, Creator Economy, etc.
Product
All-in-one
solution of
online school
operation
History

3. 1.0 (ʼ90-ʼ05) 2.0 (ʼ05-ʼ20) 3.0 (ʼ21-)
TCP/IP, TLS/SSL
HTTP, SMTP
Portal site
E-mail
Attention Economy
Democratization of
information
Broadband, 4G,
Cloud computing
SaaS
Blog・ SNS
Gig Economy
Decentralization of information
Centralization of value
Blockchain,
Edge computing, VR
Crypto asset, Dapps (DeFi, NFT)
Metaverse
Creator Economy
Decentralization of both
information and value
Background ‒ Paradigm shift and problems in Web2.0
After invention of Word Wide Web, internet has been an essential infrastructure by developing protocols and
increasing speed of network. Now facing big problems, Web is shifting from 2.0 to 3.0 rapidly.
キラー
サービス
Technology
新たな経済
パラダイム
シフト
Movement of regulation for data
protection
e.g. GDPR and CCPA started in 2018
Rise of criticism to expensive fee and
restriction of use by tech giants
e.g. Lawsuit of Epic Games to Apple
Privacy violation
User data leakage and breach by tech
companies
Problems of Web 2.0
Monopolization of value
Limited tech giants monopolize value by
dominant bargaining position
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4. Creator Economy - Overview
Individuals, who can post and share their personality and lifestyle that can earn sympathy and trust, is
getting more influential than companies. Services that supports this trend is growing.
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Low
(Below 10%
High
(20 - 50%)
$104.2 bil
Mkt size (*)
50 mil
# of creators (**)
Economy built by the action of individuals and the services that
supports them
Creator Economy
Limitation
of usage
Fee
Content
Ownership
Customer
acquisition
Flow from attention economy
Flow from gig economy
Before CE After CE
Strict
Loose
Original menu and
price can be set
Advertisement Subscription
Service provider User
Source: * NeoReach, ** SignalFire
Revenue
model
Service provider User

5. 5
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Case study 1 Case study 2
• Newsletter service
• Paid users: 500K+
• Top 10 writers earn more than $20mil/y
• March 2021: Raised $65mil led by a16z
• Subscription membership service to fans
• # of creators: 200K+, top creators earn more than $170K/m
• # of paid fans: 6mil+
• April 2021: Raised $155mil (Val: $4bil) led by Tiger Global
Creator Economy - Case study
Individuals, who can post and share their personality and lifestyle that can earn sympathy and trust, is
getting more influence than companies. Services that supports this trend is growing.

6. Crypto/Blockchain - Overview (1/2)
Hacking free
24/7 working network
Permissionless access
Data Ownership
Traceability
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24/7
Picture Source: Ministry of Economy, Trade and Industry Japan
Starting from Bitcoin, blockchain technology has achieved both decentralization and advanced security. As a
solution for Web2.0 problems, a wide range of crypto applications has been developed and grown fast.

7. 7
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Industries using Blockchains (*) DeFi (Decentralized Finance) NFT (Non Fungible Token)
• Staring from DEX and expanding
• Yield Farming, Liquidity Mining
changed game
• Total mkt. value: $159bil / TVL:
$240bil (end of October 2021)
• Used for ownership of digital asset
• Starting in 2017 and booming in 2021
• Collectable to utility
• Total mkt. value: $52bil (end of Oct.
2021) / Trade vol.: $10.7bil (2021Q3)
Bitcoin Price
2017 2018 2019 2020 2021
• Increase of blockchain
business PoCs
• DeFi boom • NFT boom
• STO, IEO and more many
concepts arise
• ICO boom
* Source: ConsenSys
DEX Stabl coin
Lending Asset optimization
1.0 2.0
3.0
Crypto/Blockchain - Overview (2/2)
Starting from Bitcoin, blockchain technology has achieved both decentralization and advanced security. As a
solution for Web2.0 problems, a wide range of crypto applications has been developed and grown fast.

8. DeFi (Decentralized Finance) - Case study
A variety of traditional financial service has been happening in crypto assets. Huge demand has been created
by high yields.
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Case study 1 Case study 2
• First crypto lending service
• Invention of Yield Farming and Liquidity Mining
• Gov. token COMP mkt. value: $2.0bil (end of Oct 2021)
• TVL: $18.3bil / Total borrowing : $7.5bil (Oct. 2021)
• Frist AMM decentralized exchange (DEX)
• Opportunity to earn yield created by liquidity pool
• Gov. token UNI mkt. value: $15.2bil (end of Oct. 2021)
• TVL: $3.6bil / Trading volume: $44.1bil (Oct. 2021)
Lender Borrower
Liquidity provider Trader

9. NFT (Non-fungible Token) - Overview
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1.0 (2017 - 2018) 2.0 (2020 2H ‒ 202 1H) 3.0 (2021 3Q - )
• With more utility such as cross-
service usage and right for
participation of community
• Market growing by Play2Earn game
Born in 2017, NFT has expanded in art and game due to useful for proof of ownership. After several booms,
NFT is getting more popular and expanding to lifestyle, media & entertainment and traditional contents & IPs.
• Boom by posts of tech celebrities
and rise of price of crypto assets
• Expanding in collectables such as art
• Standard (ERC721) makes
development easily
• Boom in game industry because
items can be owned and resold in
secondary market
• Crypto kitties
• Triger of attention of NFT
with $100K+ trading
• My Crypto Heros
• Biggest in DAU and
trading volume in 2018
• NBA Top Shot
• First mass adopted NFT
by connecting real world
• NFT art by Beeple
• Winning Bid inChristieʻs:
$69.3mil
• Bored Ape Yacht Club
• Tight community with
events and collaboration
• Axie Infinity
• Essential service in
developing countries under
COVID19
$10.7 bil
Trade Volume (2021Q3)
52 bil
Ttl mkt Value (Oct 2021)
• Token with unique ID that can be linked to digital asset
• Ownership information and transaction history on blockchain
NFT

10. 10
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Case study 1: Avatar Case study 2: Apparel
• NFT apparel brand founded in January 2020
• Collaboration with artists, top projects sold $3mil+
• Many functions such as Snapchat AR fitting, buying real
sneaker, etc.
• May 2021: Raised $8mil led by a16z
• 10K generative avatars of combination of closing,
headwear, face expression, etc.
• Now traded min $140K and some traded $1mil+
• Building tight community by solid story and world,
collaboration with brands and games,
Bored Ape Yacht Club (BAYC)
NFT (Non-fungible Token) - Case study
Born in 2017, NFT has expanded in art and game due to useful for proof of ownership. After several booms,
NFT is getting more popular and expanding to lifestyle, media & entertainment and traditional contents & IPs.

11. • Axie Infinity, Play2Earn NFT game
• Essential service in Philippine under COVID19
• Sales: April 2021: $657K August: $364mil
• Community developed by incentivized stakeholders
owning NFT and SLP and gov. token AXS
• Oct. 2021: Raised $152mil (Val: $3bil) led by a16z
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NFT - GameFi (1/2)
Source: NFTnavi, Play-to-Earn, Axie Infinity
Powered by combination of FT and NFT, Play2Earn game has skyrocketed. Coming huge demand of
metaverse, FT and NFT take critical roles for open metaverses with economy.

12. • Yield Guild Games, Play2Earn scholarship
• Lend NFT to game players and share rewards
• Building economy and community by distributing
Gov. token YGG
• Building portfolio aiming the settler of metaverse
• August 2021: Raised $4.6mil led by a16z
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NFT - GameFi (2/2)
Picture Source: NFTnavi, YGG Whitepaper
Powered by combination of FT and NFT, Play2Earn game has skyrocketed. Coming huge demand of
metaverse, FT and NFT take critical roles for open metaverses with economy.

13. DAO (Decentralized Autonomous Organization)
DAO is the organization that works autonomously without operator powered by smart contract and blockchain.
Many promising crypto projects aim to become DAOs for real decentralization.
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概要 Case study
• Decentralized writing service launched in Dec. 2020
• NFTed Writing, crowd funding function, creative data
stored in decentralized storage Arweave
• Operational decision made by voting of token holders
• 2021 1Q: Raised $10mil by USV, a16z, etc.
• Organization working by transparent verifiable codes
• Decisions made by Gov. token holders when necessary
Picture Source: Cooopathroopa, a16z: How to Win the Future

14. 1. Creator Economy makes individuals more influential than company in the media & entertainment
industry.
• Business model changes from advisement by attention to subscription by fan community.
• Individuals, who can post and share their personality and lifestyle that can earn sympathy and trust, become publishers.
• NFT makes selling content democratized. For creators, monetization is diversified and building community easily by NFT.
2. Democratization of value happens by Crypto/Blockchain.
• In the Web3.0, Crypto/Blockchain is a currency and an infrastructure.
• FT and NFT add economy to metaverse. Starting from GameFi, the concept of open metaverse is accelerated.
• DAO is a new team building standard of Web3.0. Organization shifts from capitalism-driven to community-driven.
3. Creator Economy and Crypto, originated from same problems of Web2.0, have been building Web3.0, the
original intention of internet.
• Creator Economy is moving on Crypto applications. Cryptoʼs first mass-adaptive application must be Creator Economy.
Recap - the World of Web3.0
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Global problems, life in COVID19, wealth inequality, discrimination, etc., and characteristics of Generation Z,
independence and sympathy, story/process over result, sharing economy, etc. push this trend.