What Every Business is Getting Wrong About NFTs

This is the time that we build. This is the time in which this new technology is going to be used to build real businesses. And the people who use this technology to build real businesses are going to people be the people that win. Long term.

The next wave of business is going to be built on Web3 technology. And it's not going to be for the reasons that most people think. Most people associate Web3 with cryptos like Bitcoin or NFT. Projects that are being bought and sold, sometimes at a profit, sometimes insane profits. But what most entrepreneurs are missing is the technology and the opportunities that are being built beyond the surface, beyond what most people see that it creates the opportunity for better customer experiences, for more aligned incentives and even for raising capital. That's why today I want to talk to you about how we are using Web3 technology in our business@Capitalism.com to create better experiences for our customers and in a way that is going to just make the company better and more efficient. And my hope in sharing all of this with you is to inspire you to look at what is coming down the pipe. Because it's my opinion that the entire Internet marketing industry, the entire coaching industry, even the e commerce industry is going to have to throw out their old playbook in order to keep up with what is coming. And beyond that, the web three millionaires of today that got rich trading cryptocurrencies and NFTs, they also are going to have to learn a whole new way of doing things in order to keep up with where things are going. Now I'm going to share with you what we're doing at capitalism.com, but it all surrounds one idea that that changed my mind about Web3. And it's the idea that Web3 for the first time ever, creates aligned incentives behind creators and customers. For example, I experienced this for myself where I bought a crypto project as a way of sort of getting to understand this place. And as I was investing or speculating on this cryptocurrency, I found myself drawn to the project and I found myself investing in the community and I started to see myself talking about it and sharing it with other people. And the reason for that is because I was financially incentivized to do that. It's kind of like, for example, I talk about this brand sometimes. This is a brand I've invested in. It's a brand called Sinless Snacks. They make delicious low sugar snacks. Like this is a Rice Krispie treat that has nine grams of protein and one gram of sugar. You should get it on Amazon. It's frickin delicious. Now why did I just feel compelled to share that with you? Why do I want you to go buy this? Because I'm an investor in this company. Because if you go and buy this marshmallow crispy treat that helps me. I am financially incentivized to talk about this brand. And what most people are missing is that Web3 is making that possible. For every, every project, every brand and everything that you do, every product that you buy, you will now have an incentive, a financial incentive to bring other people into that community, bring other people into the interests that you have now. The reason I'm telling you all this is because when you see how aligned incentives create new opportunities, you're going to have a lot of new ideas in your business. And the best way that I know how to do that is to share with you how we are using Web3 technology@capitalism.com Our vision for using NFT technology and Web3 in our business is broken into three or four phases. I'll explain why it's three or four, because one of them is still in concept, but the first three phases are in process and we're rolling them out right now. And it looks like this phase one is building a new type of mastermind. Now when you hear the word mastermind, you might think of high ticket coaching programs that are built around one leader or one guru. And the value is that person creating value or content for the people that are in the mastermind. It's almost a status symbol to have a mastermind that people pay 25 or $50,000 a year to be a part of. That is some people's entire, entire business having high ticket clients in a mastermind that they serve. Now there is nothing wrong with that, but it is a little bit of an antiquated model because people jump from mastermind to mastermind just like they buy course after course. So what we are doing is using NFT technology to create a new type of mastermind. And my hope is that this inspires our community and inspires thought, thought leaders to go in this direction because it's just a better way of doing business. So what we're doing is we're launching this new mastermind that instead of having a $25,000 or $50,000 a year cost, we're issuing NFTs and you buy the NFT and it gets you three years of access to this mastermind. And because everyone owns their spot, they own the nft, they own the spot for three years. That means that they are financially incentivized to make the community great. It means that I am incentivized to make that community great because I will only make money in the long term if the value of the NFT is going up. What determines if the value of the NFT goes up? If more people outside want to buy it, then there are spots available. So here's how it works. We issue this NFT and it gets everyone access to this mastermind. And we'll hold meetups around the country and we'll bring in guest speakers and we'll have a online chat platform where people will be masterminding with one another. We'll, we'll nurture relationships and we'll try to foster interactions between the community. And just like your typical mastermind, there are shared resources and shared knowledge that's unique to that community. But instead of paying $50,000 a year to be a part of that, you'll own your spot. And that means that whenever you want to leave the group or the value goes up to a point where it's a meaningful amount for you and your family, you simply exit by selling your spot, maybe at a profit. And since you know that you can profit as a result of being a part of this community, you're more likely to give to the community. You're more likely to show up for calls, you're more likely to come to events. You're more likely to bring relationships and introductions into the group. And that makes everything better. So at the very simple, fundamental level, we're using Web3 technology to create better communities. Entrepreneurs are starved for communities. And the reason why we don't have it is because we don't have real incentives to be able to create community. We don't have incentives to actually connect and bond with one another because we jump from mastermind to mastermind or community to community. And we don't have the natural incentives to be in this. That's phase one. Phase one is we're going to open up this NFT. We're going to cap it at 100 or 150 people with the idea of eventually growing it to a thousand people, one thousand person community. And we'll have real incentives to be able to nurture that community. But that's really just phase one and that's for us to be able to start this and get it off the ground. The real value from this community is that it's going to be our private investor network. We're going to bring our opportunities from the capitalism.com community to the capitalist pigs. For example, I keep mentioning this brand. I have it right in front of me. Forgive me, but this is a brand that I believe in, that I invested in. And it's one of the brands that's a part of the capitalism.com fund. And what we do in the fund is we provide capital and we provide resources to help brands grow. And when we have a standout like I can think of, I can think of a couple right now that are in the fund that are growing really quickly and doing amazing work and they're going to need capital. So when they need capital, we will bring that opportunity to the capitalist pigs. And the capitalist pigs will have the first dibs to invest in the best deals that come from the capitalism fund. But it's more than that. It's also the real estate syndications that come from my network and the entire network of the capitalist pigs. It's also the best students that come from the capitalism incubator. We do this thing called pitch week inside of the incubator where someone is presenting their pitch deck and their vision and they're asking for resources, connections and capital to be able to take this thing to an eight figure exit. So what are we going to do? We're going to bring those best deals to the capitalist pigs. So if you can see where this is going, we actually have a group of people that is incentivized to create deal flow, but also incentivized to create value for the brands that we fund inside of the pigs. For example, if we do a million dollar raise for a company and the pigs fund it, then that entire group, all of those investors, are now incentivized to help that business grow, to become evangelists for the brand. And it's not just the people who invest in the business, it's every single member of the community. Why? Because when a deal does well in that community, that increases the visibility and the value of the nft, of the group, of being a member of, of this community that is incubating businesses and funding businesses. So every single person who is a holder of the NFT benefits when one of the brands that we invest in wins. This is the aligned incentives that I'm talking about. This is a way to bring an entire mastermind, an entire community behind a single purpose. And that purpose is to create value together. That purpose is to grow businesses together, to collaborate, to work together, to share resources, to really connect with one another. And the byproduct of doing that is that the value of the community and the value of the NFT itself goes up. So phase one is the community, phase two is the deal flow. And those two things will happen fairly simultaneously. Phase three is a little bit different. The way we're using NFT technology in the future@capitalism.com is a way to revolutionize and change the way that we do courses and the way that we help entrepreneurs build million dollar businesses. So if you think about our community, our mentoring community called the 1%, this is where we help people go down the road to building a million dollar business. If you follow the steps that we, we have outlined inside of the 1%, and you participate in the coaching calls and you book times with the mentors and you show up for The Q&As that we do, you're in a really strong position to build a business that excites you, that gets you those four products at 25 sales a day at a $30 price point, which is a million dollar business. But how could we incentivize our people to go down the road to 1 million? How? How could we actually incentivize people to build million dollar businesses? Web3 and NFTs makes that possible. Here's how. We have three phases of the million dollar plan. We call it the grind, the growth and the gold. The grind is getting your first product launched, having that $10,000 month. The second stage, the growth is getting your products to 25 sales a day. And phase three is when you cross the million dollars, we break it into three four month phases. The grind, the growth and the gold. Well, if you have an NFT and that NFT you own, you own your spot in the 1%. And if you go through the entire process and you complete the training and you do the assignments, you can now upgrade that NFT to a different access level. And when you upgrade the nft, it unlocks certain experiences. It unlocks a mastermind, or it unlocks a different level of access, or it unlocks connections with other people, or it unlocks special one on ones, or it unlocks just an upgraded NFT that you can sell to somebody else. And why would somebody want to buy that? Because they're at a certain part of their journey and they want the value that is in that community. All this does is create a real financial incentive for someone to take an action. This has never been possible before. It's never been possible to actually create a financial opportunity for incentivizing a certain behavior. But Web3 makes that possible. And so what I envision for us is eventually making our entire community built on Web3. And it might be done on an NFT or it might be done on a cryptocurrency. Because if someone watches a video, they could theoretically earn tokens and those tokens could actually be used financially. And that brings me to phase four of how we are talking about using Web3 in our business. And this is a concept phase, but it's pretty friggin exciting. And I think this is the future of how business is going to be run. And it looks like this. We are talking about building a marketplace@Capitalism.com a marketplace where our students can upload their pitch deck. A marketplace where people can share their vision publicly. A marketplace where someone who is doing a raise or needs to find advisors or influencers can put up a listing on capitalism.com and other people come in and bid to be an investor or an advisor or a mentor to that person. And when someone raises capital on that platform, let's say they raise $100,000 at a million dollar valuation for their business, it might make sense for us to build all that on blockchain because now you have frictionless tracking of who invested, where you have the ability to see what your capital is now worth it just as a transparent way to do things. And if you're going to build that marketplace on blockchain, it might make sense for us to have our own coin associated with it. Now why would that make any sense? Why, why would, why would that be beneficial? Well, let's say, for example, that if you're an investor, you invest in one of these businesses and you put $100,000 into this new business and you want to get out of the investment, you have seen the company grow and you want to liquidate your investment. Well, right now you've got to find another investor who wants to buy your shares from you. That's hard. It's hard to do. But if it's all done via a public coin, theoretically you might be able to liquidate your investment and now have the token that you could trade into US dollar or you could trade it into Bitcoin, or you could put it into Ethereum. You could basically liquidate your shares into a pool of tokens that you can then trade for something else or put back into cash. So you would have more of a liquid marketplace where investors could put their money into businesses and have the ability to exit that business whenever they wanted. Now what that means is that whatever coin was built on that platform would be backed in the equity of all the businesses that were launched on the platform. So someone might choose to buy that Coin because it was.

Fractional shares of all of the different businesses that raised capital on that platform. It would almost be like an index fund of small cap businesses, private businesses. Now this is all concept. There are so many legal hurdles that need to be crossed before that's even possible. Although I have talked about to a few people that think that they have the solutions to those, but that is the type of opportunity that Web3 will create. These are the types of aligned incentives that NFTs and Web3 makes possible. Now, right now we're going through what most people would say is a crypto winter. Bitcoin's down 50%, Ethereum is down more than 60%. NFTs are losing their value. Even Gary Vee says that his own NFT is going to go down another 50 or 60%. He told me that privately. He's like, even my own stuff is going to go down and I'm going to buy up a lot of it because I believe in it long term. The reason why we're in this crypto winter is because the speculation period is over. This is the time that we build. This is the time in which this new technology is going to be used to build real businesses. And the people who use this technology to put build real businesses are going to people be the people that win long term. Now, I don't want to be the IP guy when it comes to NFTs. I don't want to be the guy that creates a speculative project that people are just buying and selling. I want to use this technology to build real businesses. And my business is helping entrepreneurs. My business is helping a million people become millionaires by building exciting businesses that have real customer bases that create change. I want to create $100 million worth of value alongside my students. I want to have a group of investors that invest in the brand that I have an interest in and I want to advocate for those brands and negotiate with that brand so my investors get a win. So that is aligned incentives where everyone has a stake and everyone is incentivized to see that business grow and see that entrepreneur win. That's how this technology is going to work. That's how this is going to impact your businesses and our industry. It's not going to be from the speculation that we've seen over the last two years. It's going to be by using this technology to make a better experience for the people that you impact. And what I want you to take away from this video, it's really two things. Number one is that this technology is going to make that possible. And that's what's coming, coming. Start thinking about it. Start thinking about how you can create so much value for your community in an aligned incentive way to where Web3 makes sense. Because Web3 is the best way to actualize those incentives. But second, in order to win at this game, you got to throw out the old playbook. You have to be thinking about how you can create more than you extract. Otherwise you don't win. The projects that are going to fail during this time are the projects that were cash grabs. They're the projects that are about how do I take advantage of this trend and sell some stuff. They're going to get crushed. But the people who are thinking about creating long term value over the next 10 years and they use Web3 as a way to do it, they're going to win and they're going to be amazing projects and they're going to make a ton of value for everyone involved. I want to do that. I want to play, I want to play the entrepreneurship game for the rest of my life. And it's fun and it's life giving to think about creating value rather than extracting value. And you have to think like that to win in this era. You cannot succeed if you're thinking about what you get out of it. You have to be able to think about how do I create and give?

And that's what this opportunity is. If you want to be on the white list for the capitalist pig NFT, go over to capitalism.com pig. You can be first in line for when we release it and also you'll download the white paper that casts the vision for how we're using this technology.

And I know the only way I'll win is to be able to constantly create value for that community. That's fun. It's real capitalism. I hope this video inspires you to think about the next few years differently to see what type of technology is going to revolutionize the way that we do business. Because it's coming and it's going to be a beautiful new chapter of capitalism. I'm Ryan Daniel Moran with capitalism.com Let me know what you thought in the comments. I'll see you guys next time. Take care.