The Transformation of Everything, feat. Vance Spencer

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 7 May 2022

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, NEAR and FTX US. In today’s interview, NLW talks with Vance Spencer, co-founder of Framework Ventures and Framework Labs, about DeFi, crypto investing, the social disruption of play-to-earn, blockchain gaming and disruption everywhere. Find our guest on Twitter: @pythianism - Nexo is a secure crypto exchange and crypto lending platform. Buy 40+ hot coins with your bank card in seconds and swap between exclusive pairs for cashback. Earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head over to nexo.io and get started now. - NEAR is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at NEAR.org. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: ChakisAtelier/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	A metaverse that offers finances of first principle, self-sovereignty, strong property rights and
0:04.8	ownership and the ability to make money is going to be far more important and far more interesting
0:09.8	than kind of what Mark Zuckerberg is doing, which is he's defining the metaverse as, you know,
0:14.4	put on your Oculus and like go to your grandmother. Or like, you know, put on the Oculus and like go to a
0:18.9	meeting. You know, that is certainly a technology. That is not the metaverse. The metaverse is a place where you can open your
0:24.8	computer and you can just make money by participating in an open economy. That's how at least we
0:28.9	think of it. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro,
0:37.2	Bitcoin, and the big picture power shifts remaking our world.
0:40.8	The breakdown is sponsored by nexo.io, near an FtX, and produced and distributed by CoinDesk.
0:48.6	What's going on, guys? It is Friday, May 6th, and today I am joined by Vance Spencer of Framework Ventures. Before we get into that,
0:58.5	however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a
1:03.2	review, and if you want to get into the conversation, and this is the type of chat today with
1:08.3	Vance that is going to make you want to discuss these ideas,
1:11.8	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.
1:15.9	Dot Lee slash breakdown pod. Lastly, as always, in addition to them being a sponsor of the show,
1:21.4	I also work with FTX. All right. So today's guest is Vance Spencer. As I said, he's the co-founder of Framework,
1:29.5	which actually is a venture fund, Framework Ventures, as well as Framework Labs, which is a team of
1:35.0	primarily engineers who effectively participate in the protocols, projects, and companies
1:40.2	that Framework Ventures is investing in. These guys only started in 2019 technically,
1:45.7	but were one of the earliest funds to get into Defi and have built from there to not only
1:50.0	expand their theses around Web3, blockchain gaming, and more, but have just raised a new
1:55.7	$400 million fund. In his announcement post about that fund, Vance wrote that the firm had developed several
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