What EVERY Business Owner needs to know about NFTs (IMPORTANT)

The NFT space is exploding because people are making gobs and gobs and gobs of money. But what I think a lot of people are missing is that this is the introduction to web3. This is the introduction for the new wave of, for us content creators and business owners and community leaders and thought leaders and authors. And I think we have the same opportunity that we had back in the social media days, or even the crypto days, if we really realize that this is way more than about flipping art.

I actually, I'm. I'm starting to think that NFTs and crypto might be the answer to the communities we've all been craving so much. This is why this is interesting to me. I was so wrong about Bitcoin and about crypto because there, there's no inherent value to it. There's no inherent value to the US dollar either. But it's backed by the military and the government and all of this. When Bitcoin launched, there was no inherent backing to it until it had full network effect. And then in 2020, you saw the mismanagement of government fiat. And so you have more demand for there to be a currency that you can't fuck with. And now what we're seeing in the evolution of the NFT space and other cryptos that are, that are coming about is we're seeing now there being more demand for the community itself. So what's interesting to me is like buying cryptopunks or Bored Ape. I honestly have no interest from a collector perspective. I have no interest from an investment standpoint, has no interest. But the communities that are developing behind them is actually incredibly compelling. It is almost a. It's a proxy to join something where you have all these human needs that are met by belonging and status and the common language and knowledge that you have that's different from everybody else. It's almost this response to the divide that we have in the world where we have two camps and you have to agree on everything with this camp and this camp and you vote for this person if you're over here. And we're seeing this, we're seeing this isolation that we're all feeling because we don't fit into either camp. And we're getting that digitally now. We've got it on social networks for a while, sort of, but even that is now being politicized and taken over. So we're getting it now through NFTs. Here's why. And this is, this is the thing from a capitalism perspective is making my brain explode. It's that One of the reasons why all of these communities are developing around these projects is because there's a financial incentive for everybody else to win. That's interesting because it actually brings about this very deep human need, this very deep human desire to give and take care of one another and to feel the sense of belonging in which everybody else has your back. Everybody is talking about the value of the NFTs themselves and speculators are coming in and people are making literally millions of dollars within days sometimes. But, but the thing is that this is, this is going to impact so much more than the art space. This is going to change how we do business. I've been trying to think about how this impacts e commerce physical product brands, and it's starting to make sense to me that the brands that you love the most, the brands that you buy from, you buy from their website, can now theoretically do kickbacks in the form of NFTs. Instead of doing reward points or coupons, they'll issue assets to you. Assets that will be stored in your digital wallet, which you can use to purchase things on their site or you can flip them for a profit, depending on what's happening in the community. I mean, imagine this for a second. Remember when you found that brand that you just loved, that nobody knew about and you were one of their early customers and you bought a bunch of their products? Well, imagine that when you bought their products, you actually got issued stock in a way in that company. You're now financially incentivized to tell everybody, you know, that that thing that you love is the best in the world. And recruiting your friends to buy this thing and the early investors in this private company, as that business then grows, there is now an asset that is being built in the form of the kickback that you, that you got for being early on that business. I don't know how that plays out. I'm not sure what the economics are going to look like, but I'm pretty certain that the businesses who win in the next round are going to be the ones that allow their early customers to participate in the growth of the business in some sort of NFT way. Because it's very much like stocks, except it's completely decentralized and you need no trust in order to make the decision. You just buy the stuff that you already like. That's gonna, I think that's gonna be it. Which is super scary, by the way, because you can't be a selfish asshole and still win. You have to think about what is completely best for the customer. Whoo. Yeah, some of us capitalists are gonna have a really hard that, myself included, because you can no longer ask the question, what do I get out of this? You have to go all in on the customer. Now, if you do that now with today's environment, I think you still win. I think you still win long term having that mindset. But now it's not even going to be an option. It is going to be happening so fast. And the people who give the most to the target people that they can help the most are going to be the ones that win. And strangely, they may not even get any status for it. The people who get status for it will be the buyers, will be the consumers, the people who started the project, who started the business. They may not get the accolades anymore. You may not even get accolades for being a great entrepreneur anymore. You may just only get accolades for being early in the businesses that create the most value. Which means all of the value will be in doing the things that create the most good for the world and waiting for the people who are the influencers to discover you and acknowledge the fact that you are creating the most value for everybody else. The whole economics of the planet shifts at that point to just a give economy. That's wild and it's purely capitalist. It is the most pure form of capitalism I've ever seen. The implications of this are, first of all.

You will almost be forced to focus on the things that you're naturally good at and that you actually enjoy. It forces you into a lane in which you have to create from a place of abundance. It's like.

It eliminates work scarcity, like it eliminates having to go work for somebody else. It actually incentivizes you to just create and grow and do your thing. And it also creates an economy in which the people who are buyers are actually expecting to profit or make money from participating in something. And the owners or the founder themselves are participating on the same level as the consumers themselves. Which is, which is wild because on the surface it sounds very anti capitalist or communist even, but it's all voluntary. And the incentives actually line up to incentivize people to do it in that way and actually make money in that way. Because the more that your users win, the more you will win as well. You just can't win in comparison to them. You have to win as a team rather than winning at their expense. Wild. Absolutely wild that this communal form of capitalism, this collaborative capitalism, is the model that is next. I went down this rabbit hole by buying Gary Vee's NFTs and spent like 75 grand on them. And right now I'm up like 3x or 4x on them. But I didn't buy for the ROI. I bought for what the underlying service was, which was my first, like, braingasm into, oh, this is what the new wave of business is going to look like. So if you want to see why I did that, just watch this video or don't. Whatever aligns our incentives the most.