Domain Names Offer a Lesson In Tech Evolution and Opportunity in This Upstart

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Tuesday, August 30, 2022

Iconic comedian George Carlin famously quipped about things that you never see, opining on the fact that, “You don’t know that you don’t see them because you don’t see them. You’ve got to see something first to know that you never saw it.” Case in point, some 37 years ago, no one ever saw a domain name until symbolics.com became the world’s first registered internet domain name on March 15, 1985.

What’s the oldest publicly listed company domain name? Officially that title goes to Northrop-Grumman (NYSE: NOC) at #6 in July 1985, although bbn.com (Bolt Beranek and Newman Inc.) was #2 in April 1985, with the company acquired by Raytheon (NYSE: RTX) in 2009. If you’re wondering when the tech companies clocked in, they were slower. Xerox (NASDAQ: XRX) in January 1986 became the 7th domain ever registered.  Hewlett-Packard (NYSE: HPE) was 9th in March 1986, although it does have lineage going back to having the 5th domain too (in September 1985) via IT company DEC, which was acquired by Compaq, which was later bought by HP. Apple.com (NASDAQ: AAPL), #64, wasn’t registered until February 1987.

Look at those dates again. It was nearly a year between the first and the ninth registered domain names. Apple was in business for 11 years and still almost two years behind symbolics.com with its domain name. It wasn’t until November 1987 that the 100th domain name was registered (nynexst.com).

Point is that tech doesn’t evolve quite as fast as we tend to think it does. And, to speak to Carlin, there are a lot of things that we haven’t seen yet; we just don’t know it. By now most have heard of the metaverse, cryptocurrency, and NFTs (non-fungible tokens). However, those things are still in their infancy and only serving as building blocks for bigger things to come.

NFTs are an enigma to many people, but not to Ryan Schadel, CEO of Metavesco (OTCPK: MVCO). Metavesco, a web 3 enterprise headquartered in Cumming, Georgia, has been investing in leading emerging technologies, including Yuga Lab’s OthersideMeta NFTs. Yuga Labs gained fame with its NFT collection Bored Ape Yacht Club (BAYC), the world’s most expensive and successful NFT project to date. Yuga Labs recently partnered with rap legends Eminem and Snoop Dogg, who performed “From the D 2 the LBC” in the metaverse as their Bored Apes during Sunday’s 2022 MTV Video Music Awards.

The confusion most have with NFTs is thinking that they are only collectibles. Sure, NFTs can command millions of dollars, but this is only one utility. “While NFT's are commonly associated with art or profile pictures, that association does the technology behind NFT's a disservice,” said Schadel in a statement this month. Schadel is referring to the potential for NFTs, as completely novel assets that can digitally represent anything, to transform the way the world shares and consumes in the future.

Yuga Lab’s Otherside is a metaverse project and gaming platform designed to allow thousands of people to interact simultaneously, giving it a next-generation social vibe. In the evolution of gaming, the leap would be akin to the one from Pong to Roblox. In July, Yuga had 4,500 community members log in for a sneak peak of the experience dubbed “First Trip” where throngs of avatars were guided as a group throughout Otherside by “Curtis,” a giant Bored Ape.

Otherside is being co-developed by Yuga Labs and UK-based Improbable utilizing Improbable’s M² metaverse network. Improbable has received strong financial support to develop its multi-player vision, including raising $150 million in April at a $1 billion valuation with investors including Andreessen Horowitz and Softbank.

Metavesco has been buying deeds (officially branded an “Otherdeed”), keys to claiming land in Otherside. In Phase 1 of Otherside, only Otherdeed holders and select developers will be able to participate and contribute to the platform’s features and uses. Developers will have the ability to build and monetize experiences in the virtual world.

Each Otherdeed has a unique blend of environment and sediment, some with resources, some with artifacts, and, in select ones, a Koda or things Koda related. Kodas are an NFT project that Yuga Labs has been keeping somewhat mysterious, teasing that they will be instrumental in the Otherside experience. First generation Kodas are going to be quite rare, with only about 10 percent of Otherdeeds including a Koda.

Interestingly, Metavesco has a Koda as for its Twitter profile, suggesting it already has one prized Otherside traits.

The base price for an Otherdeed on OpenSea is 1.85 Ethereum. The least expensive one with a Koda as of Monday morning is 14.65 Ethereum (~$22,300 at current ETH).

According to Schadel, Metavesco has taken advantage of the broad pullback in cryptocurrency prices to grow its Otherdeed portfolio, but not necessarily because of collectability. “As [Otherside] continues development, I believe it will set the bar for all other metaverse platforms,” said Schadel. “This is the first major NFT project to incorporate Dynamic NFT's, Non-Fungible Tokens that change based on actions and interactions, that will enable an interoperable environment for gaming, development, socializing, and content creation,” he added.

Schadel sees Otherside as the “epitome” of web3, and clearly relishes leading the first public company that invests exclusively in web3 or metaverse projects. People may not understand it, but that’s because they haven’t seen it yet. For an upstart like Metavesco, this is a chance to be in on the ground floor by owning assets in a virtual environment that can be built upon, licensed, traded, or leased within a project that will bring a large-scale metaverse world to life.

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Metavesco (OTCPK: MVCO) Full Corporate Write-Up: Click Here.

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