Speaker 1: It's about competitiveness on the court, but collaboration off the court.
Speaker 1: So on the sidelines is where all the magic happens.
Speaker 1: It's the dealmaking. It's the four million dollars being invested
Speaker 1: in each other, um, it's the starting new projects, it's
Speaker 1: the being hired by one another. And it all started
Speaker 1: because on the court, it provides an opportunity for members
Speaker 1: to essentially like play and essentially have like these non
Speaker 1: verbal communications queues being activated, like you know, when you're passing,
Speaker 1: you put on the ball and you're making a shot.
Speaker 1: I have a relationship with you that's a little bit
Speaker 1: deeper than you know just me giving you a business card.
Speaker 1: I'm with Lucas and this is Black Tech, Green Money.
Speaker 1: I'm gonna introduce you to some of the biggest names,
Speaker 1: some of the brightest minds and brilliant ideas. Feel Black
Speaker 1: in building or simply using Texas to get your back.
Speaker 1: This podcast is Feel Derek Thomas, otherwise known as DT,
Speaker 1: is founder and CEO at Doal Labs, a launch path
Speaker 1: of dows which stands at the intersection of community, crypto
Speaker 1: and culture, and social engineer, co creator of Miami Tech
Speaker 1: Runs and l A Tech Runs which brings together emerging
Speaker 1: and established founders, vcs and creatives to build community, hoop
Speaker 1: and practice mindfulness. In my d m s, they're full
Speaker 1: of questions about dows, crypto, n f T s and like,
Speaker 1: so I brought on Derrek Thomas DT to talk about
Speaker 1: the ows and really break down what they are and
Speaker 1: what they could mean for you and your organization. A
Speaker 1: DOWN stands for decentralized autonomous organizations. You know, as the
Speaker 1: name suggests, it's a DOWN. A DOLL is a organization
Speaker 1: that's automated by computer code UM and open for anyone
Speaker 1: to participate as long as they meet some basic requirements UM.
Speaker 1: Being autonomous means that the smart contract can help run
Speaker 1: the majority of the process without human interference, and out
Speaker 1: is created and managed by a community with collectively manage
Speaker 1: which collectively manages its funds and projects. So you know,
Speaker 1: that's kind of like how it works and a very
Speaker 1: lament way of saying it is. A DOW is essentially
Speaker 1: a group chat, shared bank account, and cap table. So
Speaker 1: as an example, I'm gonna guess, like, so, like let's
Speaker 1: take your Miami Tech runs. You're gonna say, if I
Speaker 1: hold one of these tokens, or these coins, and we
Speaker 1: want to play on Saturday instead of Sunday. You know,
Speaker 1: that's a proposal that I can make to the community. Yeah, absolutely,
Speaker 1: So you know, when you're thinking about you know, in practice, right, UM,
Speaker 1: there are certain things that you want to propose to
Speaker 1: the entire community, and then there are certain things that
Speaker 1: you may want to propose just just like you're working
Speaker 1: group UM. And I'll explain what working groups are in
Speaker 1: in the later half of this, but essentially there's usually
Speaker 1: you know, governance is something that everyone is essentially trying
Speaker 1: error trying erroring and creating some type of process around.
Speaker 1: But essentially when you're thinking about UM playing and the
Speaker 1: rules of the game as well as the cadences of
Speaker 1: which you meet. When when you guys uh decide to
Speaker 1: you know, pay certain people when the treasury is used,
Speaker 1: usually you use that use that voting UM tool to
Speaker 1: actually make that possible. So you know, there's so many
Speaker 1: people who are you know, very Internet savvy, can can
Speaker 1: build software, etcetera. And there's others who are just really
Speaker 1: good community builders, people who know how to get people
Speaker 1: engaged in you know, social efforts and etcetera, which which
Speaker 1: is more important when you think about creating a successful doubt,
Speaker 1: the technology of a doubt or the ability to galvanize
Speaker 1: community around it. Great question. Um, I think both is
Speaker 1: really really important. UM. But being good at the community
Speaker 1: I think stands become it becomes just more it's more imperative. UM.
Speaker 1: There's tons of tools out there that allow us to
Speaker 1: you know, spin up a doubt and not necessarily focus
Speaker 1: so heavily on the actual underlying technology. But essentially the
Speaker 1: way that the technology works is built on like these
Speaker 1: open source blockchains where you know, anyone can see what's
Speaker 1: written into the code, right UM. Proposals can be submitted,
Speaker 1: audits can be happened around the group's treasury, UM, and
Speaker 1: it you know, other actions can actually you know, be
Speaker 1: recorded and essentially shared on a transparent record UM, around
Speaker 1: the entire community. So like you can focus on the technology,
Speaker 1: but there's no doubt or there's no community, I mean
Speaker 1: if there's there, if there there's no community, you know,
Speaker 1: no doubt, there's no doubt, right so, or no successful
Speaker 1: one for sure a doubt. So you know, I think
Speaker 1: that community becomes the true indicator of like what's important. UM.
Speaker 1: And there's a few things you've got to really consider
Speaker 1: when you think about the community, Right, you gotta think
Speaker 1: about the north star, like what's important, like the purpose
Speaker 1: behind why you're creating it. Um, you got to think
Speaker 1: about whether or not, like what you're choosing to do
Speaker 1: the functionality is it truly decentralized? Can you achieve that?
Speaker 1: Can can can what you want to achieve be better
Speaker 1: off centralized? Or should it be something that you get
Speaker 1: a collective vote on? Um The logic sticks around that,
Speaker 1: which is really important as well as like how you
Speaker 1: handle um certain things to actually accomplish that. And then
Speaker 1: like the narrative, like what are you're sharing to the
Speaker 1: community to keep them engaged, keep them moving forward? The
Speaker 1: mission and vision of values, and then like essentially the
Speaker 1: lifespan of it, like where are you going to Like
Speaker 1: how what do you create this doubt to do? Like
Speaker 1: the constitutional doubt for example, was created to simply purchase
Speaker 1: the constitutional I mean the constitution and make that whereas
Speaker 1: in some like like tech runs. You know it's started
Speaker 1: off as basketball, but essentially the next of it is
Speaker 1: the idea of building like this playground at this ultimate
Speaker 1: playground in the metaverse. But eventually what we're getting to
Speaker 1: its building and decentralized sports league, like and what and
Speaker 1: how having different you know, locations play against one another,
Speaker 1: So what does that look like? Right? And so all
Speaker 1: these different pieces play a role, but none of that
Speaker 1: can be done without community. Could so could you could
Speaker 1: have the new version of the NBA in five years
Speaker 1: or ten years? Pretty much? I mean as possible. I
Speaker 1: mean anything is possible, right U. I'm not saying that. Uh,
Speaker 1: you know, it just comes down to we're explored. We're
Speaker 1: gonna explore. You said, you said a couple of things
Speaker 1: there that I thought were really interesting in it. I
Speaker 1: think there's two ways, Like you started these tech runs
Speaker 1: with people who want to play ball, right and then
Speaker 1: but when I listen to you talk now here like
Speaker 1: something like there's a mission in some respects. What was
Speaker 1: the thing that got people excited about these tech runs
Speaker 1: when it's like we're here to play ball, But it
Speaker 1: wasn't like we're here to save you know, the whales.
Speaker 1: You know what I'm saying. I get like why people
Speaker 1: want to save the whales, but why would I buy
Speaker 1: a token to play basketball? What was the value there
Speaker 1: that you believe was you know, the driving force to
Speaker 1: people being engaged with techlers. Good question. Um. The key
Speaker 1: thing for us is we're building the ultimate playground at
Speaker 1: the intersection of the force crypto and culture, you know,
Speaker 1: for us, and it it was really about how can we
Speaker 1: mobilize and essentially grab the crypto curious, those who are
Speaker 1: crypto native, but the crypto curious and bring them into
Speaker 1: Web three UM in a way in which that was
Speaker 1: really native and to their current like way of life, right, UM,
Speaker 1: And I think the the what we are we're in
Speaker 1: a we're in a new generation the internet, and the
Speaker 1: Internet is essentially moving at a pace that's um, you know,
Speaker 1: that's exponential, but also at a pace where a lot
Speaker 1: of people, and we've seen this in the past, have
Speaker 1: been left behind. So my question is like, how can
Speaker 1: we not onboard the masses into Web three, but how
Speaker 1: do we bring Web three down to the masses so
Speaker 1: that it can be digestible, easy for them to understand,
Speaker 1: and then through that process of that shared interests, we
Speaker 1: can then you know, essentially teach them the way UM
Speaker 1: in a way in which that's fun, native, um and
Speaker 1: respectable by most. So you know, when you think about dalstals,
Speaker 1: one of a doll killer would be idleists. So when
Speaker 1: you're thinking about sports unifies, that's the natural property of it.
Speaker 1: It's one that people can play, it's one that people
Speaker 1: can watch and bet on UM. And we saw, you know,
Speaker 1: me being a former athlete, like I've seen it in
Speaker 1: so many different ways build and essentially unite communities. So
Speaker 1: I wanted to test that model UM out in this
Speaker 1: space and create one of the first sports social clubs
Speaker 1: that can allow for people to kind of gather around,
Speaker 1: build around something that they completely understand, and then take that,
Speaker 1: take that lesson and UM taken to the next level.
Speaker 1: So the mission is, the vision is a lot larger
Speaker 1: than even that, But we knew that we had to
Speaker 1: get people in the game. And we're not talking about
Speaker 1: on the court. We're talking about in the game of
Speaker 1: web grade. No that that response, it's probably one of
Speaker 1: the better ones I've heard, because I see so many
Speaker 1: doubts and I don't have a question here, but this
Speaker 1: is more common. I have all of these, you know,
Speaker 1: dials that come across my desk, you know, a proverbial desk,
Speaker 1: and you know, everybody is looking for like what the
Speaker 1: utility is, Like, what is the value of somebody owning
Speaker 1: this particular token? And the way you just described it,
Speaker 1: you know, the dial killer is idleness. And so when
Speaker 1: you're creating something that creates community, getting people out in
Speaker 1: the basketball court, I get now why that that's stronger.
Speaker 1: The utility UM is so important to the success of
Speaker 1: the doll. You've got these people who are coming out, celebrities,
Speaker 1: even people who are can be crypto whales come out
Speaker 1: and play because they want to be around like minded
Speaker 1: people who are investing in this thing called Web three
Speaker 1: and they found community and they want to get out
Speaker 1: and play ball with some people who you know are
Speaker 1: similarly situated, so really really good in and let me
Speaker 1: share and let me share if something but if that's okay. UM.
Speaker 1: The result of that, right, the result of using sports
Speaker 1: as just a proxy UM. You get the people that
Speaker 1: when we first started UM had no cryptolola, they knew
Speaker 1: nothing about purpe um, and just a short four months,
Speaker 1: not only did they have full understanding of you know,
Speaker 1: they are now crypto native, they were also you know,
Speaker 1: choosing certain lanes. So some were going down the n
Speaker 1: f T Degon route where they learned a lot about
Speaker 1: n f T. That became something that they were passionate
Speaker 1: and interesting, interested in some went down to the down,
Speaker 1: you know, and created more downs, like we spent up
Speaker 1: a yoga down out a result of the tech lines
Speaker 1: down UM. And now they go on retreats and holding
Speaker 1: that membership token allows you to get access to places
Speaker 1: all over the like Egypt, um um, excuse me, all
Speaker 1: over the world, like Egypt and St. Louis, St. Lucia
Speaker 1: and you know, in some parts of Africa. So but
Speaker 1: beyond that, it's about, you know, and I think it's
Speaker 1: really important. It's about collaborative competitiveness on the court, but
Speaker 1: collaboration off the court. So on the sidelines where the
Speaker 1: magic happens. It's the dealmaking. It's the four million dollars
Speaker 1: being invested in each other. Um, it's the starting new projects,
Speaker 1: it's the being hired by one another. And it all
Speaker 1: started because on the court it provides an opportunity for
Speaker 1: members to essentially UM like play and essentially have like
Speaker 1: these non verbal communications queues being activated, like and when
Speaker 1: you're passing you on the ball, when you're making a shot,
Speaker 1: I have a relationship with you that's a little bit
Speaker 1: deeper than you know, just me giving you a business card. Right,
Speaker 1: So it's like thinking about it in that in that fashion,
Speaker 1: and I think that's what created the success of it,
Speaker 1: and not from an economic perspective. You know, not only
Speaker 1: are we playing together, building try having fun, but we
Speaker 1: also token is rising because more people are joining, more
Speaker 1: people are finding the utility UM successful student valuable to
Speaker 1: them and then through them you know, now people are
Speaker 1: also earning at a high pace. No, I like that
Speaker 1: a lot. And you talked about this the value of
Speaker 1: that community, and it's starting to pervade into other lanes
Speaker 1: of athleticism yoga. You mentioned when you think about tech runs,
Speaker 1: what was the initial catalyst that caused the community you're
Speaker 1: building to be successful? Because anybody could have just said
Speaker 1: I'm gonna put together a basketball down, But how was
Speaker 1: your community built? Like, what was the impetus to get
Speaker 1: people interested in d T S? Right? I think, um,
Speaker 1: it was a couple. The number one thing is the
Speaker 1: community became the mode. We were very very like intentional
Speaker 1: about like who we had joined um to kind of
Speaker 1: spirit had this community. So we went after entrepreneurs, founders, creators, investors,
Speaker 1: those who are you know, not just like minded, but
Speaker 1: they have something to offer. And it got to a
Speaker 1: point where during the second half of members who were
Speaker 1: essentially um, you know, like we started to recognize that,
Speaker 1: like the news, the headlines that were happening, the mergers
Speaker 1: and acquisitions, the big plays that were happening not only
Speaker 1: interesting where three, but just around the country in tech.
Speaker 1: You know, someone in IDOW actually played a part in
Speaker 1: our role and making that possible. So now someone like
Speaker 1: me who did this last did this like our you
Speaker 1: know t K deal. You know, like, can you share
Speaker 1: some some thoughts around us and give us some insight
Speaker 1: so you know, from the public view, they can allow
Speaker 1: us to see, you know, how deals are being done,
Speaker 1: how things are being built, and giving me a certain
Speaker 1: knowledge set that I had no you know, no access
Speaker 1: to prior to being a part of this style, right,
Speaker 1: So I think it's stuff like that that creates a
Speaker 1: lot of value UM And through that, partnerships started to happen.
Speaker 1: And that's when, like we played at the Miami Heat arena,
Speaker 1: we partnered with like the f t X arena to
Speaker 1: actually make that possible. And that's when you know, the news,
Speaker 1: you know, the news took off. I mean, people start
Speaker 1: to recognizing that, oh wow, like this this is not
Speaker 1: only a cool doubt, but they also played on NBA
Speaker 1: cords and then skyboxes. They're going to Puerto Rico. They're like,
Speaker 1: right now our logo is on a professional basketball team,
Speaker 1: which is incredible. And that's exactly what happened from there.
Speaker 1: Like once that started to take off and we started
Speaker 1: to scale into different cities, we believe that we're like
Speaker 1: a global community, but essentially like a local culture. We
Speaker 1: want to make sure that. The reason why we do
Speaker 1: it this way because we recognize every city has their
Speaker 1: own culture and we don't want to distruct that by
Speaker 1: making it like one size fits all. I love that
Speaker 1: you're a businessman too, you know. I don't want to
Speaker 1: assume that you do this just because out of the
Speaker 1: kindness of your heart. I imagine it could be, but
Speaker 1: I imagine that there's a business opportunit here for you
Speaker 1: as well and for the community. And so can you
Speaker 1: explain how the economics work? You know, because if I
Speaker 1: start a company, I get you know, I sell a product,
Speaker 1: I generate revenue. If I sell a service, I generate
Speaker 1: revenue and something. You know, whatever that bottom line is,
Speaker 1: you know, those that's my profit. That's the money I
Speaker 1: get to take home and buy a new car, A
Speaker 1: new house or whatever. Pay my bills with the DOW.
Speaker 1: How does it work in the respect of I get
Speaker 1: to build something that is governed by a decentralized and
Speaker 1: autonomous computer system software, but there's revenue in it for
Speaker 1: not just the community. But how does DT get paid?
Speaker 1: Because if I want to go hard to DOW, how
Speaker 1: do I get paid? Ultimately? Absolutely absolutely, so they're the
Speaker 1: economics is pretty proofful. It's really supportive of the entire give. Essentially,
Speaker 1: dolls get value to the edges and community. So the
Speaker 1: way in which you can earn UM is by engaging UM.
Speaker 1: We have a system set forth where you know, members
Speaker 1: can join working groups and build different silos of the
Speaker 1: community so that the community can function as a whole right. UM.
Speaker 1: We have growth leads, partnership leads, We have people that
Speaker 1: handle membership relations which is essentially like onboarding people. UM.
Speaker 1: We have people that lead the community. We also have
Speaker 1: people that lead the governors to treasury management. So the
Speaker 1: way we do that UM is we provide resources like
Speaker 1: we provide the resources in the in the form of
Speaker 1: the native token UM some U s DC depending on
Speaker 1: like the scenario UM, and they get paid for bounties
Speaker 1: like different projects that they work on and complete. UM
Speaker 1: and as this token continuous to increase, you know, we
Speaker 1: have a structure where you can pay. You can get
Speaker 1: paid in two different ways. One is, you know, you
Speaker 1: can get paid by a certain set of tokens right
Speaker 1: which you can capture the outside as it continues to
Speaker 1: increase UM. I Obviously the variable or the risk to
Speaker 1: that is like if it starts to drop, you'll you'll
Speaker 1: catch that out, you know it catch it downside as well.
Speaker 1: But on the other side, there is also the stable
Speaker 1: aspect of it, like you can say, hey, listen, I'm
Speaker 1: gonna we can all vote to give someone you know
Speaker 1: two part time for a month of their opportunities or
Speaker 1: like if they complete a certain amount of tasks I
Speaker 1: when you're put on either a salary or a project
Speaker 1: based situation, and that would be given into the native token,
Speaker 1: but they were given in the amount in which we
Speaker 1: set for, like if it's two thousand, two thousands worth
Speaker 1: of this native token UM and uh so that's the
Speaker 1: way we incentivize our community. And so the way I
Speaker 1: get paid is you know, the same way. UM And
Speaker 1: then like there's a couple other you know, a mad
Speaker 1: like magical I think magical opportunities where you can, once
Speaker 1: you earn enough tokens, you can do a lot of
Speaker 1: things with it to actually like transition that into eat
Speaker 1: or um, you know, like you know, create what they
Speaker 1: call liquidity prod pools to actually like pay yourself, you know,
Speaker 1: through the fees. And I mean obviously I can go
Speaker 1: into the great detail and that later, but essentially you
Speaker 1: can be a liquidity provider where like I take some
Speaker 1: of my tokens and now added to a pool, meaning
Speaker 1: so that other members like you will and that's how
Speaker 1: or whoever can actually join the community. And because I
Speaker 1: create a pool, I expanded the pot of which people
Speaker 1: can join, right the amount of tokens and encirculated supply.
Speaker 1: And because of that, it's almost like a token appreciation.
Speaker 1: I can get paid in fees, almost like a bank
Speaker 1: to actually have people join and be can be in
Speaker 1: a an important be in the form of ethereum, or
Speaker 1: it can be in the form of the native token
Speaker 1: of vote. So and this is from my mown benefit,
Speaker 1: because I've had so many people We've been having these
Speaker 1: dial conversations, and I heard this quote that says you
Speaker 1: can't bring a web two way of thinking into web
Speaker 1: read and I think there's like a disconnect with so
Speaker 1: many people who are trying to think of how to
Speaker 1: make this make sense. And so I'm gonna ask you, like,
Speaker 1: is is it what you just explained? Is it kind
Speaker 1: of like you know, I get paid, Like think about
Speaker 1: the traditional stock market. I get paid in more stocks
Speaker 1: of you know, McDonald's or whatever. And by engaging with
Speaker 1: the community of McDonald's, they give me more stocks, and
Speaker 1: so I get to pay my bills when I cash
Speaker 1: that stock out. Is that what you're saying kind of
Speaker 1: how dolls works off? If I engage with the tech
Speaker 1: runs down, I earn these tokens. Therefore, you know you're saying,
Speaker 1: I get to, you know, realize that personal reward. Does
Speaker 1: that is that get turned into dollars when I just
Speaker 1: decided to cash in some of those tokens so that
Speaker 1: I can go pay my bills, so that I can
Speaker 1: go take a vacation, Right? Is that what you're saying? Yeah,
Speaker 1: to a certain degree, yes, like you have you can
Speaker 1: get paid in the quote unquote company's equity. Right. Um,
Speaker 1: when I was at Tesla, you know, you know, through
Speaker 1: bone this as we have bonuses and instead of cash,
Speaker 1: we had equity. We got paid more and more testa
Speaker 1: stock UM, and that can pay off later on, like
Speaker 1: you know, especially when you're giving earlier UM. Given the
Speaker 1: fact that Tesla has you know, performed the way it
Speaker 1: has in markets, so the same model comes here. But
Speaker 1: it also, like Web two is not completely vanished from
Speaker 1: Web three. So like the idea that like there's a
Speaker 1: complete separation. No, um, it's just a follow on. Like
Speaker 1: it's ReadWrite and own. It's not only own, it's also
Speaker 1: right too. So like when we think about the model,
Speaker 1: we still wanna you know, how do you make you know,
Speaker 1: the salaries competitive. We look at ways in which we
Speaker 1: can um. We look in the market and say, hey, listen,
Speaker 1: how much more someone get paid in normal dollars and
Speaker 1: then like we can apply that in this model. Um,
Speaker 1: and we're just getting paid in the native token. So
Speaker 1: it all comes down to now when we're talking about
Speaker 1: the Web three, you know, play of it. It's okay
Speaker 1: your you might receive the native token, if you might
Speaker 1: receive and those two things. UM, it's something in which
Speaker 1: if you have coin based, if you have all these
Speaker 1: other like if they're blocked by some of these other
Speaker 1: like banking tools that are more web three native UM.
Speaker 1: It can give you an opportunity to you know, you
Speaker 1: can hold your crypto and like borrow against it, or
Speaker 1: you can essentially cash out whenever you you find out
Speaker 1: to be suitable as well. So how can people who
Speaker 1: are you you talked about some of the people who
Speaker 1: came to tech Runs didn't even have a wallet in
Speaker 1: the beginning. How can people who are UM trying to
Speaker 1: get dial experience interested in things like tech runs and
Speaker 1: others friends with benefits and of it, Like, how can
Speaker 1: we easily get dial experience if we want to dip
Speaker 1: our toe in the water to just kind of figure
Speaker 1: this thing out. What are some things you would recommend
Speaker 1: we do. I think the the best thing you can
Speaker 1: do is participation so you can learn a little bit.
Speaker 1: But I think just jumping in UM. And what jumping
Speaker 1: in looks like is you know, there's communities, like if
Speaker 1: you see say tech runs, and you see the activity
Speaker 1: that's going on, like our d ms are stacked, and
Speaker 1: in our d ms we have members saying, hey, listen,
Speaker 1: I want to join. How do I get up? How
Speaker 1: do I get a how do I get around or
Speaker 1: get around like becoming a member or you know, how
Speaker 1: do I participate UM. The best way in which we
Speaker 1: can do that is through UM. We have like a
Speaker 1: membership application process, right, so like you can apply. Once
Speaker 1: you apply, we have our membership relations people, you know,
Speaker 1: start to do her due diligence and essentially reach out
Speaker 1: to those people and those people and she kind of
Speaker 1: walks through that process why they be a good fit,
Speaker 1: et cetera, and then eventually they buy the token. So
Speaker 1: like the decentralized part of it is, you know, for
Speaker 1: most people, you can you can buy your tokens and
Speaker 1: you can buy someone's tokens and that's the first start.
Speaker 1: So friends with benefits the same thing, you buy their tokens.
Speaker 1: You can apply M. Once you apply, you get reached
Speaker 1: out to and you know you join that that that
Speaker 1: first group, that private discord channel, once you own those
Speaker 1: tokens and you've been approved, and then they walk you
Speaker 1: through that you know, their own boarding process from their
Speaker 1: from their ether. So it's you know, every process has
Speaker 1: a different model. UM. Some you can just join by
Speaker 1: just buying the n f T or just a token.
Speaker 1: Some has an application process because they're kind of like
Speaker 1: vetting the vibes and trying to have controlling They just
Speaker 1: making sure that like the vibes are being you know,
Speaker 1: UM are fourth yeah, is being protected. UM, but it's
Speaker 1: it's not necessary. And then some just have an open
Speaker 1: group chat like l a tech runs has an open
Speaker 1: group chat. You can join by just clicking on the
Speaker 1: Lincoln by in an Instagram bio and then boom like
Speaker 1: once you're in there, you can talk for some of
Speaker 1: the members, you can talk to some of the tokenholders
Speaker 1: and UM, you can figure out who the leadership is.
Speaker 1: You'll see all the the UM, all the notes and
Speaker 1: vision vision vision envission values. You can break things down
Speaker 1: from there. So I'm always interested in where black people fit,
Speaker 1: you know, with regards to Web three opportunity. What unique
Speaker 1: perspective do you believe black people bring to the conversation
Speaker 1: of Web three, not just dis but n F T
Speaker 1: S and the whole Like, what what do we uniquely
Speaker 1: bring that we can realize the value of good question? UM?
Speaker 1: Our culture? I P. I think the way in which
Speaker 1: we operate UM, it's it's clearly very different. The way
Speaker 1: we consume is very powerful. UM. The way we you know,
Speaker 1: we can influence different brands. I mean, most of most brands,
Speaker 1: and it's in America is built off of black culture.
Speaker 1: So when you think about, you know, how we can
Speaker 1: play and how we can you know, participate in this
Speaker 1: new this new paradigm shift that's happening in the Internet.
Speaker 1: I think that the key thing is we can bring
Speaker 1: that those tastemakers, we can bring the way in which
Speaker 1: we want to do business. Like there used to be
Speaker 1: a cookout, you know, dow that essentially brought people together
Speaker 1: and essentially had that same model of the pigure like hey, listen,
Speaker 1: we're gonna talk about this over you know, over play
Speaker 1: the food or whatever, case and be. And then essentially,
Speaker 1: you know, as they built out certain projects, they're gonna
Speaker 1: invest in one another. Then there's opportunities like ours, which
Speaker 1: is a very diverse and inclusive down sports it was
Speaker 1: dominated by black culture, to be honest, right, So how
Speaker 1: can we how can we leverage And I noticed that
Speaker 1: like our down and some of the other social downs
Speaker 1: out there, mainly us in Friends of Epest are like
Speaker 1: some of the most diverse dous. We're not like all
Speaker 1: women's style, we're not all anything that We're literally a
Speaker 1: melting pot um. I think it's because of the cultural
Speaker 1: ip that we chose to participate in. Um. Beyond that,
Speaker 1: I think it's what we choose to do, right. Um.
Speaker 1: You know I said this before. I was talking to
Speaker 1: a friend and I mentioned that I never traded collectibles
Speaker 1: when I was a young kid, I was still in
Speaker 1: line for our pair of Jordan's right. I you know,
Speaker 1: I put things on the lay away. I put my
Speaker 1: no official awhere, like I did things like you know
Speaker 1: my parents put just to set up so that you
Speaker 1: can still use the same thought processes to actually play
Speaker 1: in the space. Right, Like putting your sign on the
Speaker 1: layaway is basically saying all, I'm gonna put some down
Speaker 1: at the at the floor, and then when it becomes
Speaker 1: popular or when it becomes in season, essentially I'm gonna
Speaker 1: go in and and buy up. So it's the same
Speaker 1: thing like buying a n f T is like minting
Speaker 1: at the early stages, and you're learning how to get
Speaker 1: in at the early stages, and then when it becomes
Speaker 1: popular you can buy more where you can you know,
Speaker 1: you can sell or you can do things, but you're
Speaker 1: learning how to get in early. And the same thing
Speaker 1: with the drops, right, like Jordan drops whatever it is,
Speaker 1: and you're still in a lot of for us, so
Speaker 1: you understand that process of like getting in early and
Speaker 1: the value of having access to information to actually make
Speaker 1: that decision happen. But I think that the type of
Speaker 1: communities that we're gonna be able to form in the
Speaker 1: black culture is going to be second or nine. I
Speaker 1: think it's sally under represent it, um, but gladly in
Speaker 1: a in a in a position that we're going to
Speaker 1: actually be able to play at like at the you know,
Speaker 1: I think at the forefront. I love that when you
Speaker 1: think about particularly black communities, but communities at whole, Like,
Speaker 1: there are things that are still missing in our culture.
Speaker 1: Dows are new to most people. Um. This is probably
Speaker 1: a phrase we got familiar with in the last six
Speaker 1: months or so. But if I'm thinking about creating a DOW,
Speaker 1: what are spaces that you believe are super right for
Speaker 1: DOW creation? UM, believe it or not, any community with
Speaker 1: that has purpose, right, I think the possibilities are endless. Um.
Speaker 1: We're talking that reddi group chat that you have, you know,
Speaker 1: that Facebook group that wants to gather around to raise
Speaker 1: capital or raise resources to for some positive some outcome. Right,
Speaker 1: There's things like ours, like bringing together people to build
Speaker 1: sports leagues. There's, um, I mean just the possibility and endless.
Speaker 1: I think that I would like to you know, have
Speaker 1: people encourage I mean encourage people to actually just try
Speaker 1: new try new things, whether it's a songwriter down where
Speaker 1: you're bringing together people together to essentially um, you know,
Speaker 1: write songs from major artists and then that major artists
Speaker 1: like Beyonce can pay that dolls treasury to lightnse some
Speaker 1: of that work. There's there's so many activations and I
Speaker 1: think that and uh, you know, the potential for use
Speaker 1: cases for dolls is you know, it's it's endless. So
Speaker 1: to that end, how because you talked about black culture
Speaker 1: in dolls, you know, and what we bring to it.
Speaker 1: But how does culture impact the success of a doll?
Speaker 1: Like you talked about black I P and etcetera, Like
Speaker 1: is it important to be more fully who we are
Speaker 1: more presently black? And like how does that impact the success? Gotcha? Um?
Speaker 1: You know, we're living in a world where authenticity is scaling, right, um,
Speaker 1: Our digital identities are becoming more prevalent than anything else before.
Speaker 1: But everyone is becoming creators. You know in this new world,
Speaker 1: you know you own the value create. So as we
Speaker 1: are creating on the Internet, I think that the way
Speaker 1: in which we choose to create um plays a huge
Speaker 1: role in that. So when you think about cultural impact,
Speaker 1: we're thinking, you know, it drives the engagement because people
Speaker 1: get to align themselves with things that you care mostly about.
Speaker 1: And I think the engagement is the essential building block
Speaker 1: for a successful doubt. If your culture speaks to a community,
Speaker 1: you know, your community will naturally drive that doubt success
Speaker 1: through participation in engagement. So you know, when you think
Speaker 1: about cultural impact, it's like, you know, it's it's the
Speaker 1: words that we choose, the language, it's the way in
Speaker 1: which we talk to one another in that down you know,
Speaker 1: right now you have a big thing you see gm
Speaker 1: g mg MGM. Right, that's that's cool for you know,
Speaker 1: that's a culture. That's a cultural like that's a cultural language.
Speaker 1: But if you think about someone like Beyonce she has
Speaker 1: to be high, which is like a cultural world in itself.
Speaker 1: Or you have someone like uh, you know, think of
Speaker 1: Nicki Minaj. She has the Barbie Crew and they speak
Speaker 1: a certain way, they act a certain way, like there's
Speaker 1: a there's a there's a cultural I P and and
Speaker 1: swagger about them, and I think that which keeps them aligned,
Speaker 1: and it keeps them engaged, and it keeps people participating
Speaker 1: and also identifying who they are. And the same thing
Speaker 1: goes for Greek. So when you think about cultural impact UM,
Speaker 1: you can think about the like what are the what
Speaker 1: are the norms? Like what like what is the language
Speaker 1: you're trying to get? And also I think it ties
Speaker 1: right back into like how communities are built, right the
Speaker 1: best way in the way communities are built, it's your purpose,
Speaker 1: the goals, the purpose of that community need to be defined.
Speaker 1: And then through this like the community can naturally be built.
Speaker 1: And then now and when you narrowly define your community's
Speaker 1: purpose and goals, you know, that's everything during the initiation
Speaker 1: process of building. And then like once you set the community,
Speaker 1: set to throw the culture um, you can now collaborate
Speaker 1: and coordinate because there's people that already have, you know,
Speaker 1: a sense of belonging and they feel like all right,
Speaker 1: like I you know, I know where I'm going, I
Speaker 1: know what I'm about, I know what I'm a part of.
Speaker 1: And now you can start building these these tribal um
Speaker 1: you know U effects, it's really really really really uh
Speaker 1: ex exciting, but it's also really fascinating at the same time.
Speaker 1: So for folks who are not super technical and they're
Speaker 1: watching this right now um or listening to this howere
Speaker 1: and they want to start it down, They've got an
Speaker 1: idea for a community down in their local geography. They
Speaker 1: want to build one for their city or for their
Speaker 1: friends group. I remember one of the guys you were
Speaker 1: in with at Afro Tech executive in Miami. He said,
Speaker 1: like a doll is like a group chat with a
Speaker 1: battle sheet, and I thought that was pretty important and sweet.
Speaker 1: So if if I'm not super technical, but I want
Speaker 1: to start a DOW, where do I start? How do
Speaker 1: I do this? Right? I mean there's tons of resources online. Um,
Speaker 1: there's DOW launch pads. I mean, we have one Labs
Speaker 1: is essentially a down launch pad where you can come
Speaker 1: and learn and make we make it easy to make
Speaker 1: it manage social dowa um, and we provide you with
Speaker 1: the tools to token creation as well as the uh
Speaker 1: you know, help you with to go to the community
Speaker 1: strategic because we recognize that some of these members of
Speaker 1: crypto curious versus cryptal native. Right, So, um, there's launch
Speaker 1: paths out there that's also an opportunity for you guys
Speaker 1: to read up on different materials and launch you know,
Speaker 1: a group chat. Right, there's cole and there's discourse. You
Speaker 1: can start there. Um, it doesn't really you know, the
Speaker 1: first part of building downs you have to build a community.
Speaker 1: So building a community having a north star that one
Speaker 1: liner purpose of like what what you guys are getting
Speaker 1: together about, right, um, deciding whether or not this community
Speaker 1: is centralized and decentralized as another factor, right like and
Speaker 1: then um looking at the logistics, like identifying like what
Speaker 1: needs to be handled, you know, to accomplish the north
Speaker 1: star goal. So like, once you have like some of
Speaker 1: these key things in place, then at that point you
Speaker 1: can just go to one of the launch pads. You
Speaker 1: can come to me if you need to, um, you
Speaker 1: can go to other communities that already have hows um
Speaker 1: join one, and then like from there you learn to
Speaker 1: lay the land. Black Tech Green Money is to production
Speaker 1: of Black and the Afro Tech, the Black Fact Podcast Network,
Speaker 1: and i Heeart Media, and it's produced by Morgan Dubon
Speaker 1: and me Well Lucas, with additional production support by Love
Speaker 1: beacham Risa Lewis. Special thank you to Michael Davis, your
Speaker 1: main halles's of car savan Yan you know like the
Speaker 1: white Yes, that's this really. Learn more about my guests
Speaker 1: and other technis shoppers to innovators, to afrotech dot com,
Speaker 1: and the video version of this episode will drop the
Speaker 1: Black Tech Green Money on YouTube. So tapping enjoy your
Speaker 1: black Tech Green money, leave us a five star rading
Speaker 1: on iTunes. Go eat your money, peace and love,