Ryan

Our assets need to be competitive with traditional securities in terms of their investability.

Do you think that we solve this problem this year?

I don't know if you have any idea as to like the mechanism as how tokens and equity find alignment or how tokens become equivalent to equity.

Or are you just kind of saying the lawyers are going to figure it out.

The whole industry is trying to solve this problem.

The market is going to find a solution and it's going to take 2026 to find that solution.

Maybe that.

Do you have any opinions as to how this actually happens?

You're just saying that this will happen.

What do you think about MetaDAO?

I'm watching MetaDAO with interest and it seems to be growing in attention.

Founders, I'd be worried about the level of constraints there.

that MetaDAO imposes upon startups.

That's kind of the whole deal of MetaDAO is we are going to set up some walls, some guardrails, some constraints upon what founders and teams can do with the money that they raise from the MetaDAO platform.

And why do we do this?

So that we can offer investor protections and investor assurances that their money is going to actually be put to good use and actually invest in the company.

And so it's solving kind of the investor protection side of things, but it's doing that by constraining founders.

This is kind of like my query concern about metadata scalability.

What do you think about that?

The other half of this conversation is ICOs.