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Speaker 1: Hello, and welcome to another episode of the Odd Lots Podcast.

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Speaker 1: I'm Joe Wisenthal and I'm Tracy Hallaway. So, Tracy, you know,

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Speaker 1: we've been talking a lot about crypto cryptocurrencies on the

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Speaker 1: show lately, um, but in kind of like a sort

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Speaker 1: of like very limited abstract sense, and I think actually

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Speaker 1: people are getting excited about different things that could be

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Speaker 1: done with coins and token ization, etcetera in a lot

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Speaker 1: more ways than just sort of like the redefining money

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Speaker 1: or redefining finance concept. Yeah, I'm definitely starting to see

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Speaker 1: quite a lot of more creative use cases. So there's

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Speaker 1: a Barclay's note the other day that basically talked about

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Speaker 1: using token ization to fix the repo market and try

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Speaker 1: to make the settlement times more efficient. Uh so that's fun.

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Speaker 1: But we've seen lots of different potential applications for tokens,

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Speaker 1: including maybe token izing future income streams from individuals, yeah,

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Speaker 1: token izing athletes. And this is also like are you

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Speaker 1: you've always been obsessed with this topic and we actually

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Speaker 1: like talked about it recently with music rights and I

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Speaker 1: think years ago we talked about Bowie bonds. Like this

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Speaker 1: is all like the idea of like owning, like the

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Speaker 1: stream to a person's income or being able to invest

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Speaker 1: in a person or a star has always been something

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Speaker 1: kind of appeals to you, right, appeals to me, I

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Speaker 1: think intellectually, yes, I think there are a lot of

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Speaker 1: open questions about how exactly it works and whether or

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Speaker 1: not it's good for society. But I think it's sort

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Speaker 1: of anyone who's into or interested in securitization is at

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Speaker 1: some point going to start thinking about whether or not

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Speaker 1: you can apply the process to people and individual streams

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Speaker 1: of income. I think Matt Leavin Wants described this our

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Speaker 1: Bloom columnists Colleague Ones described this as like the classic

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Speaker 1: sort of college like late night dorm um intellectual expercise model. Yeah, well,

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Speaker 1: you know, like you know, the kind of thing you

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Speaker 1: talk about maybe after you've had a few drinks or

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Speaker 1: something else. Can you actually sell stock in people? And

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Speaker 1: how would you do it? Tracy? This is me. This

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Speaker 1: is so much more than dorm room talking about. This

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Speaker 1: is this is this is one other thing you know

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Speaker 1: we're talking about, like the idea of like betting on

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Speaker 1: a person or buying a sort of a stake and

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Speaker 1: someone that you're really into. But uh, did you pay

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Speaker 1: attention to the whole like NBA top Shot phenomenon a

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Speaker 1: few months ago. No, and this is going to be

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Speaker 1: an episode that comes with my standard sporting caveat, which is,

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Speaker 1: I have no idea what's going on in the n

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Speaker 1: b A. I am not an expert in the space

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Speaker 1: by any stretch of the imagination, So go ahead and

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Speaker 1: tell me what happened. Well, you know, you're excuses also

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Speaker 1: that you're in Hong Kong. But a few months ago,

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Speaker 1: there was this huge upset should with these like digital

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Speaker 1: sort of like blockchain based basketball cards, and people are

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Speaker 1: paying like tens of thousands of dollars for essentially like

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Speaker 1: a playing card like of of a Star dunking or

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Speaker 1: something like that. It's like a video. It kind of

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Speaker 1: looked like a gift but collectible, one of a kind

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Speaker 1: kind of things. It was this huge thing. It's kind

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Speaker 1: of faded a little bit in the public's imagination, but

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Speaker 1: as a proof of concept, people are just like really

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Speaker 1: excited about the idea of like using token ization, digital collectibles,

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Speaker 1: all kinds of new ways for fans to express their support. Right. Well,

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Speaker 1: if you think about you know, we've spoken a little

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Speaker 1: bit about n f T s on the show you

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Speaker 1: think about n f T s, there's sort of natural

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Speaker 1: application to sports collectibles, which have always been I mean,

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Speaker 1: sporting fans have always been sort of interested in collecting

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Speaker 1: things surrounding sports, right, base cars, Yeah, exactly right. Well,

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Speaker 1: I'm very excited about our guests because we have of

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Speaker 1: an NBA star on the podcast today. He is the

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Speaker 1: co founder of the app Galaxy. He is a star

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Speaker 1: player for the Brooklyn Nets. We're going to be speaking

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Speaker 1: with Spencer Dinwoody as well as Solos, also the co founder,

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Speaker 1: and they are you know, working on projects related to

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Speaker 1: all this blockchain, interacting with stars, tokenization, new ways for

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Speaker 1: fantasy to interact with the game. So I'm very excited

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Speaker 1: about speaking to both Spencer and Solo. So thank you

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Speaker 1: both for coming on. Thank you for having us. I

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Speaker 1: really appreciate it was on to be here. Thank you

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Speaker 1: so Um Spencer, I mean, actually, Spencer, I'm sort of

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Speaker 1: like familiar You've always been into like crypto stuff, or

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Speaker 1: I know that like a lot of athletes are getting

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Speaker 1: into it a long time ago, but I feel like

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Speaker 1: you've actually been way ahead of the curve on this stuff,

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Speaker 1: like thinking about blockchain and cryptocurrencies would get you interested

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Speaker 1: in this world. Yeah, no, I mean I was. I

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Speaker 1: was fortunate enough to get into a big coin and

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Speaker 1: other cryptocurrencies and early seventeen, you know, a buddy of

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Speaker 1: mind the finance industry, uh, you know, told me about

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Speaker 1: and unfortunately I didn't get in. Uh yeah, I know,

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Speaker 1: I wish I had it. You know, you know, might

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Speaker 1: be retired right now, honestly. Uh. But but no, I

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Speaker 1: mean I was fortunate up to get in seventeen. Um,

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Speaker 1: my experience about the rise and the crash. Um, it's

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Speaker 1: sparked kind of an education process, and I wanted to

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Speaker 1: learn about it. And as my my pursuit of knowledge

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Speaker 1: start started to open up a new world. Um, I

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Speaker 1: started just trying to apply it to you know what,

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Speaker 1: what's familiar in my life, which is the entertainment industry.

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Speaker 1: And you know, fast forward four years and Calaxy is

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Speaker 1: in beta and you know, uh, solo is is primed

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Speaker 1: and poised to to lead us to heights that you know, no,

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Speaker 1: no consumer practice really senior in the black chain space. UM.

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Speaker 1: So maybe this is a good time for you to

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Speaker 1: introduce yourself. What's the relationship here and and how did

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Speaker 1: you get involved in the project? Yeah? Sure, most definitely.

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Speaker 1: So my name is Solosi, say, co founder here at Calaxy. UM. Yeah,

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Speaker 1: so Spencer. Spencer is a very interesting guy. So he's

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Speaker 1: actually one of a you know, a close friendly friend

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Speaker 1: of mine. As you guys all know, he was one

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Speaker 1: of the first people, if not the first, actually to

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Speaker 1: tokenize himself. UM. And so he's actually you know, a

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Speaker 1: good family friend of mine. My brother actually put us

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Speaker 1: in contact a number of years ago at this point, UM,

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Speaker 1: you know, mentioning that you know, whatever it is that

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Speaker 1: Spencer aspired to do with his contract and tokenizing himself, UM,

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Speaker 1: you know, and all of those conversations didn't really make

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Speaker 1: much sense. But UM it made equally no sense to

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Speaker 1: whatever it is that I did for work. So I

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Speaker 1: was a securization investment banker previously, UM and so we

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Speaker 1: started having those conversations about what the future of UM

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Speaker 1: fan engagement looks like, but also the idea of montensation

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Speaker 1: and democratizing you know, oneself, UM in order to you know, uh,

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Speaker 1: you know, profit off of you know, you're like this

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Speaker 1: in a way that you can you know previously UM.

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Speaker 1: And so that's kind of you know, the impetus of

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Speaker 1: what Calaxy the modern project is um. You know, we're

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Speaker 1: really excited to you know, take a take a stab

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Speaker 1: at changing you know, the creator economy and changing uh,

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Speaker 1: you know, using crypto um as a means to get there. Spencer,

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Speaker 1: what don't you or either one of you really? But

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Speaker 1: what do you sort of describe the basic galaxy? What

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Speaker 1: is it? What is the model? Yeah? Sure, so calaxy

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Speaker 1: stands for the creator's galaxy and essentially we are at

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Speaker 1: one stop shop for a creator to monetize themselves. So

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Speaker 1: if you think about the creator economy currently, there is

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Speaker 1: a number of different social media platforms that exist out there,

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Speaker 1: and you know the power of influence and the growing

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Speaker 1: of the creator middle class. You know, nowadays you can

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Speaker 1: walk on the street, um, you know of New York

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Speaker 1: and walk by somebody that has you know, two hundred

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Speaker 1: thousand followers that's looking to monetize and connect those fans,

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Speaker 1: and so you know, those guys are often found exactly right,

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Speaker 1: those guys are often found on a number of different

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Speaker 1: platforms looking to monetize and have those authentic experiences that

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Speaker 1: their fans are quite honestly looking for. So what we've

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Speaker 1: decided to do is create a platform where all of

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Speaker 1: that could be hosted in one space, giving these people

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Speaker 1: the autonomy to really you know, dive into monetizing their

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Speaker 1: fan base in a way that makes sense for them. Um,

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Speaker 1: you know, so a you know, a celebrity chef might

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Speaker 1: monetize their fan base differently than a star running back,

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Speaker 1: like differently you know, monetize their selves than a reality

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Speaker 1: TV star. And so Calaxi is meant to host all

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Speaker 1: of that all of one place. And then we obviously

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Speaker 1: have the crypto and you know, blockchain architecture to be

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Speaker 1: able to benefit, um, you know from things like entity

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Speaker 1: s and really helping you know, introduce that to you, um,

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Speaker 1: the masses in a palatable way. Sorry, can you talk

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Speaker 1: a little bit more about the differences in how different

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Speaker 1: celebrities would actually monetize their income stream? So how would

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Speaker 1: a chef do it? That's different to you know, what

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Speaker 1: a basketball player would do or a reality TV start. Yeah,

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Speaker 1: most certainly, so like to to to dive into it. Essentially,

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Speaker 1: the way the app works is that each creator has

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Speaker 1: their own cryptocurrency, and so we're creating personalized cryptocurrencies with

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Speaker 1: instant utility, and what we mean by that is um

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Speaker 1: in order to buy you know, Spencer Dean Woodi's token. Um,

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Speaker 1: you know you would buy that and you would be

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Speaker 1: able to redeem it for an interaction with Spencer, so

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Speaker 1: be a video call, FaceTime call, you know, directly within

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Speaker 1: an app. Um, you know, whether it's access to exclusive content,

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Speaker 1: you name it. You know you're able to essentially use

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Speaker 1: that as a form of currency to redeem those, um,

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Speaker 1: you know, interactions. So it's really monetizing someone's time versus

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Speaker 1: kind of their income screens, right Like, this is distinctly

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Speaker 1: different than you know, securitizing your own you know, NBA

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Speaker 1: contract for example. UM. You know that's something that speaks

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Speaker 1: to you know, the masses of influencers, right like, not

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Speaker 1: everybody is signed to the Brooklyn Nets for a luquidid deal.

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Speaker 1: We all wish we were, but we're not. But you know, somebody,

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Speaker 1: like a celebrity ship might want to offer cooking classes.

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Speaker 1: They might want to offer you know, you know different

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Speaker 1: you know products that makes sense for their communities. And

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Speaker 1: so in our platform, you're ablet's turn on and off

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Speaker 1: different things that makes sense for your fan bases. UM.

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Speaker 1: And then obviously you're also able to set your pricing,

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Speaker 1: which makes sense. So UM, you know, if you know

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Speaker 1: you set your price at when you know at one

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Speaker 1: point and you know more, you know, competitive influencers. That's

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Speaker 1: very similar to you. And you know, in a perfect market,

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Speaker 1: you know you might lose your fans to go there, etcetera.

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Speaker 1: But um, you know, we're all about community building and

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Speaker 1: all those things, so um, you know, quite honestly, it's

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Speaker 1: usually not a zero sum game. But that's how the

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Speaker 1: act works and how the ecosystem functions. Especially you know,

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Speaker 1: you've been in the league since so uh seven years

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Speaker 1: and from a sort of technology social media and obviously

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Speaker 1: anything related to cryptocurrency, that is a lifetime, just seven years.

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Speaker 1: Can you talk a little bit just about like how

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Speaker 1: the fan player relationship has been changed by technology over

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Speaker 1: that time. Oh man, it's funny. I mean I feel

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Speaker 1: like basketball, the entertam industry, technology, it's kind of like

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Speaker 1: dog years. You know, everything's just so accelerated. I mean,

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Speaker 1: to give you a basketball dotch. I mean when I

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Speaker 1: got in the NBA, a lot of teams still had

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Speaker 1: too big in it, you know what I mean, Like

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Speaker 1: it was right right before the kind of Golden state transitioned. Uh,

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Speaker 1: you know, shooting threes and there was still a big

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Speaker 1: question marks on if you could win the game shooting threes.

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Speaker 1: I mean, now we're talking about you know, NBA Top

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Speaker 1: Shot and then they're being you know, virtue v our components,

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Speaker 1: you know, to to the NBA and it's viewing experience.

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Speaker 1: I mean, obviously you've seen through social media where platforms

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Speaker 1: like Instagram had become content distribution on a wide scale,

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Speaker 1: not just for individuals and creators, but but also for

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Speaker 1: you know, these brands as well. You know, the NBA

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Speaker 1: does a great job of sending out Instagram posting and

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Speaker 1: videos and things like that promoting games. I mean, we

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Speaker 1: we played in Milwaukee Bucks tonight, and I'm sure if

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Speaker 1: you go to the NBA's the timeline right now, there's

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Speaker 1: gonna be honest highlights and Katie highlights. Obviously capitalizing on

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Speaker 1: YouTube and and and having highlights that distributed there more

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Speaker 1: freely than some of the other leagues. I think that's

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Speaker 1: something that you know, NFL kind of missed the boat

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Speaker 1: on at the start. And then you know, also having

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Speaker 1: a shoot the Twitter Live show that I participated with

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Speaker 1: Taylor Roads and Channing Fry and Isaiah Thomas and stuff

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Speaker 1: like that, where you're where you're getting some of that

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Speaker 1: live streaming and commentating from uh you know, not not

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Speaker 1: just the the telecast crew, but also some more maybe

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Speaker 1: familiar personalities and maybe arms and length personalities. Uh you know,

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Speaker 1: like I said, like a Channing fry. All these things

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Speaker 1: that I've I've referenced are just part of that dramatic shift.

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Speaker 1: And I think, you know, as these uh social media's

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Speaker 1: and as uh these technologies come that that decreased the

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Speaker 1: barrier between fan and and and player or fan and

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Speaker 1: product necessarily, I guess, and I know it sounds terrible

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Speaker 1: to call us products, but you know, the content that

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Speaker 1: we produced, the basketball game we play is is like

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Speaker 1: weaving a one of a kind of you know, our

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Speaker 1: piece every night, and that's what the fans want to

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Speaker 1: be attest to and a part of you know, it's

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Speaker 1: all about kind of decreasing the friction for for the

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Speaker 1: fan to be able to interact and consume the content

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Speaker 1: that they love. Well, this is something that I want

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Speaker 1: to ask you about. Actually, So, Joe and I just

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Speaker 1: launched a subscriber only platform at Bloomberg, and I've been

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Speaker 1: sort of struggling to come up with stuff to write

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Speaker 1: for it. So do you find it difficult or do

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Speaker 1: you feel pressure to produce content suitable for Instagram or

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Speaker 1: suitable for you know, selling for extra money to fans

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Speaker 1: in addition to being an athlete, because it's I mean,

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Speaker 1: everyone takes it for granted now, but it is kind

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Speaker 1: of a big shift over the past five years or so. Yeah,

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Speaker 1: I mean, I think to sell those points. When he

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Speaker 1: kind of referenced each creator, each demographic, each subsection of

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Speaker 1: this entertainment industry has their ways to monetage. You know,

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Speaker 1: TikTok stars are going to do a pletely different than

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Speaker 1: a YouTuber. It is gonna do a different than a game,

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Speaker 1: or it's gonna do a different in bassement player um

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Speaker 1: or member. Like all the kintent that I produced still

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Speaker 1: has to abide by a certain I would say, unwritten

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Speaker 1: code that the NBA kind of represents, right, because you

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Speaker 1: never sacrifice your main check to like go grab small endorsements,

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Speaker 1: right like this this summer I should sign you know,

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Speaker 1: a contract that's north of let's call it sixty million dollars,

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Speaker 1: right if I could pick up another one to two

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Speaker 1: million dollars and endorsements or whatever it is a year,

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Speaker 1: it still wouldn't just it would take me thirty years,

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Speaker 1: you know, to satisfy my you know, abbreviated NBA contract.

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Speaker 1: So it wouldn't make sense and be nonsensical for me

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Speaker 1: to start posting elaborate or disingenuous or you know, explicit

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Speaker 1: content or just anything that would violate that NBA code.

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Speaker 1: And so all my social media posts have to kind

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Speaker 1: of flow in that line. Now, I wanted to be authentic,

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Speaker 1: and so if you look at my social media, specific

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Speaker 1: my Instagram, it's typically me working out as I'm coming

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Speaker 1: back from a c I kind of showing my progress.

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Speaker 1: So it's very authentive in my life that I live

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Speaker 1: every day, you know, multiple work scouts, uh, at different

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Speaker 1: times and and maybe you know, you might see a

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Speaker 1: smoothie or something like that because I try to eat

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Speaker 1: healthy things of that nature. But you know, I can't necessarily, uh,

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Speaker 1: you know, it just would be remissing me to post

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Speaker 1: like alcohol in large quantities or something like that. Um.

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Speaker 1: And I mean I like wine, but I don't drink

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Speaker 1: obviously hard liquor and large quantities and things like that.

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Speaker 1: But I just couldn't do that and still expect to

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Speaker 1: maintain the type of conducive image that that represents kind

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Speaker 1: of the shield well at the same time, so each

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Speaker 1: person and that's the beauty of social media. It's it's

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Speaker 1: such an individual experience that you kind of have to

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Speaker 1: attack it in the manage that's best for your life. Yeah,

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Speaker 1: and I think on that point too, like you know,

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Speaker 1: just to try and men see we've uniquely identified that

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Speaker 1: in terms of like our broader vision for the Calaxy platform,

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Speaker 1: and that you know, each creator like this, like Sensor

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Speaker 1: mentioned and like you know, we spoke about a few

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Speaker 1: times now, is that you know, they all have different

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Speaker 1: revenue streams, so like you know, things like you know,

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Speaker 1: paving way to see the future where you can not

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Speaker 1: offer securitization as that potential your you know, liquidity event

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Speaker 1: for you know, an NBA player or an NFL player, etcetera.

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Speaker 1: Like having the rails set to be able to do

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Speaker 1: something like that might make sense. And then you know, obviously,

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Speaker 1: you know when you think about what's much larger is

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Speaker 1: that you know the creator economy, right, like you know,

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Speaker 1: like going back to my example before, you know, the

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Speaker 1: need for monetization is you know quite great in that set,

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Speaker 1: you know, in that creator middle class, like right, like

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Speaker 1: you know, to Spencer's point, you know, he's just talking

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Speaker 1: about signing you know, lucrative NBA contracts. But there are

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Speaker 1: people you know that got a million followers that you know,

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Speaker 1: really need to know monetize because that's their lifely, right,

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Speaker 1: Like you know, Spencer makes money playing basketball, but like

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Speaker 1: you know, some of these people don't necessarily make money

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Speaker 1: out and you know a ton of followers on Instagram

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Speaker 1: and so their price, um, you know per you know,

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Speaker 1: unit of effort or or you know, however you want

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Speaker 1: to think about it is probably lower, right, And that's

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Speaker 1: the beauty of our happen. You know, setting your price,

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Speaker 1: you know, you're able to really take ownership and talk

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Speaker 1: and like have autonomy over what your time is worth. Right, Um,

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Speaker 1: And that's something that's you know, really important necessary when

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Speaker 1: you think about how you know, traditional legacies, so show

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Speaker 1: media platforms exist where you have you know, tip talks

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Speaker 1: or youtubees are bigger, you know, larger organizations are deciding

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Speaker 1: how much these people are worth based off of the

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Speaker 1: follower accounting traffic that they bring. Um, you know, the

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Speaker 1: whole idea of centralization and defy and I'm sure we'll

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Speaker 1: get into a lot of that you know later on

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Speaker 1: in the conversation, but you know the idea of being

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Speaker 1: able to have that autonomy and be able to monetize

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Speaker 1: their time as you see fit is you know, really

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Speaker 1: the key. I think this is super helpful for me

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Speaker 1: and Tracy as we think about sort of balancing social

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Speaker 1: media against our sixty million dollar contract. Something that I'm

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Speaker 1: really interested in is like I'm curious because you know,

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Speaker 1: like Tracy and I, you know, I'm forty. I don't

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Speaker 1: know all Tracy is. But you know, it's like we

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Speaker 1: didn't grow up with all this stuff, things like tokens

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Speaker 1: and buying cryptocurrency is like related to a star. It's

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Speaker 1: like still like very like awkward for me. What is

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Speaker 1: your experience with like this sort of like the current

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Speaker 1: generation of fans and just their level of comfort with

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Speaker 1: say like the idea of like buying a star token

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Speaker 1: or a creator token in some way and and understanding

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Speaker 1: interacting with that. You guys are probably older generation, but

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Speaker 1: I don't think it's actually that um, you know, unfamiliar

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Speaker 1: for you guys. You guys traded basketball cards, baseball cards,

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Speaker 1: things like that, which is you know, a kin to

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Speaker 1: top shot Oie bonds came out, you know, a long

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Speaker 1: long time ago um. And that's something that obviously my

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Speaker 1: tokenization is similar to. I think people throw around the

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Speaker 1: word cryptola, throwing on the word token, and people get

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Speaker 1: a little bit gunshoting because they feel like, oh no,

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Speaker 1: it's a whole new world now. To a certain extent,

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Speaker 1: it is, right, but we're talking about units that can

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Speaker 1: be more effectively moved. Right, what does the black team

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Speaker 1: really do? It gives a trustless trust later, right, Like

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Speaker 1: I don't have to trust you, Joe, you know what

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Speaker 1: I mean? Like I can just simply trust the ledger.

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Speaker 1: I can trust the ethereum blockchain or the their hashgraft

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Speaker 1: blockchain it self. I take out the you know, counterparty

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Speaker 1: risk in that sense, right, because the ledger is the

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Speaker 1: baseline and and something that I know to be true,

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Speaker 1: right because it's been it's had verified trade x for

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Speaker 1: however many number of years, etcetera, etcetera. So it's more

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Speaker 1: so utilizing the trust layer, the speed right to handle

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Speaker 1: these kind of exco system transactions, these smart contracts. So

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Speaker 1: I don't look at it from a standpoint of, you know,

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Speaker 1: necessarily reinventing the wheel. And that's why I said I

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Speaker 1: was trying to apply the technology to the entertainment industry,

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Speaker 1: um in ways that I thought it's solved issues and

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Speaker 1: solve problems, right Like Bowie Bonds was something that that

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Speaker 1: was effective, but a little bit outdated, right we look

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Speaker 1: at kind of even the owners have talked about they

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Speaker 1: want liquidity in teams, they want financial obligation, but they

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Speaker 1: want to Hunderson control. Well, how are you going to

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Speaker 1: get that? It has to be from the fans. No

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Speaker 1: other billionaire's gonna say, hey, I give my money, but

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Speaker 1: I don't want to board. See, I don't want executive

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Speaker 1: decision making. I don't want to look into the financials.

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Speaker 1: I don't want to That's not gonna happen, right Like,

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Speaker 1: but fans will buy in because of their emotional talk

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Speaker 1: of the experience. It's the same type of thing with

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Speaker 1: contracts and other ill liquid assets such as intellectual property

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Speaker 1: or time for example. You know things that are hard

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Speaker 1: to distract value from. We want to kind of put

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Speaker 1: it on this blockchain. Right, So you take out the

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Speaker 1: fear of not trusting this person, and then you you

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Speaker 1: you set the playing field level and you say, hey,

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Speaker 1: if you want to interact or you want to buy

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Speaker 1: a piece of the team or you want to buy

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Speaker 1: a piece of a contract or whatever it is. And

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Speaker 1: we understand some of these things are uh securities and

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Speaker 1: some are non security. So I'm not saying Calxum handles

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Speaker 1: all this right, but just in terms of blockchain is application,

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Speaker 1: that's the way we viewed it and the way we

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Speaker 1: kind of go about applying the technology and scaling Caxium

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Speaker 1: to the future. And obviously, of any of these ideas,

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Speaker 1: the Caxie doesn't do if somebody systems to the podcast

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Speaker 1: take it wrong way, and I hope you make you

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Speaker 1: know the dollars with it um. So, so I want

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Speaker 1: to press you on this point. And I'm going to

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Speaker 1: start with a kind of weird anecdote. But seven or

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Speaker 1: eight years ago, I was living in New York and

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Speaker 1: I was going to um a gym. I think it

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Speaker 1: was like a New York sports club gym or something

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Speaker 1: like that, and there is a manager there who had

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Speaker 1: an idea which was basically to start something very similar

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Speaker 1: to like Patreon or Cameo now and to have fans

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Speaker 1: pay in order to get specialized content from their favorite athletes,

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Speaker 1: their favorite stars. And this was seven or eight years ago.

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Speaker 1: He told me the idea, and I was like, oh,

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Speaker 1: that sounds really interesting, and he was sort of asking

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Speaker 1: for media and legal and financial advice and stuff like that.

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Speaker 1: I have no idea if he ever got it off

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Speaker 1: the ground, but clearly he was directionally right because we

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Speaker 1: have all these platforms now, I guess my question is

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Speaker 1: what differentiates Calaxy from the other things that are out there?

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Speaker 1: And you've given it, You've given me the sort of

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Speaker 1: um the case for crypto here, but there are other

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Speaker 1: platforms doing this that do not use the technology and

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Speaker 1: seem to be achieving the same thing. Yeah. So I'll

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Speaker 1: take the first piece in terms of broad vision, and

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Speaker 1: then I'll dedicate the solo for the comprehensiveness of Calasi.

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Speaker 1: You know. On that note, when you talk about looking

428
00:22:22,400 --> 00:22:24,520
Speaker 1: into the future and him seven eight years ago talked

429
00:22:24,520 --> 00:22:27,720
Speaker 1: about the cameos and things of that nature, it still

430
00:22:27,760 --> 00:22:31,800
Speaker 1: came down to decreasing friction, right, because people want to

431
00:22:31,840 --> 00:22:35,000
Speaker 1: be tied to what's innate the special I use this

432
00:22:35,359 --> 00:22:38,159
Speaker 1: analogy a lot when when discussing this kind of broader topic.

433
00:22:38,520 --> 00:22:41,480
Speaker 1: If you took the Brooklyn Nets lego and you dropped

434
00:22:41,520 --> 00:22:43,600
Speaker 1: it in the middle of you know, times square or

435
00:22:43,640 --> 00:22:47,640
Speaker 1: wherever people probably stop people take pictures. Um, it would

436
00:22:47,640 --> 00:22:49,399
Speaker 1: be somewhat of an event. It would kind of be

437
00:22:49,800 --> 00:22:51,840
Speaker 1: a little you know, like, oh what's going on here,

438
00:22:51,840 --> 00:22:56,760
Speaker 1: But it wouldn't stop traffic. Right if Lebron James right

439
00:22:56,800 --> 00:22:59,560
Speaker 1: now tweet it out, Hey, I'll be at Times Square

440
00:23:00,160 --> 00:23:05,000
Speaker 1: at you know, twelve pm tomorrow. Everybody is showing up

441
00:23:05,000 --> 00:23:07,560
Speaker 1: to Times Square COVID or not. It doesn't matter like

442
00:23:07,560 --> 00:23:09,880
Speaker 1: they're showing up. They're going to be there, whether they

443
00:23:09,960 --> 00:23:13,040
Speaker 1: have to take their picture from you know, ten yards away,

444
00:23:13,400 --> 00:23:16,200
Speaker 1: or they actually get to meet them and have a conversation.

445
00:23:16,240 --> 00:23:18,760
Speaker 1: Whatever it is, Everybody showing up, and so it speaks

446
00:23:18,800 --> 00:23:22,160
Speaker 1: to what's actually special. Like a long time ago, people

447
00:23:22,280 --> 00:23:25,320
Speaker 1: thought of this more in the uh you know college

448
00:23:25,320 --> 00:23:28,280
Speaker 1: way right where there's all this uh you know, school

449
00:23:28,280 --> 00:23:31,639
Speaker 1: pride and program tradition, and they thought it kind of

450
00:23:31,680 --> 00:23:34,399
Speaker 1: applied to the to the professional realm. But it doesn't.

451
00:23:34,600 --> 00:23:36,720
Speaker 1: You know, there's a there's a reason why McDonald's goes

452
00:23:36,800 --> 00:23:39,399
Speaker 1: to a Lebron or Katie or whatever ask them to

453
00:23:39,480 --> 00:23:41,800
Speaker 1: endorse their food, you know what I mean, because people

454
00:23:41,880 --> 00:23:44,679
Speaker 1: want you know, that that that access to that person,

455
00:23:44,760 --> 00:23:47,000
Speaker 1: Like the Golden Arches are nice, but I'm much try

456
00:23:47,080 --> 00:23:49,160
Speaker 1: to talk to Katie, you know what I mean. So

457
00:23:49,480 --> 00:23:51,959
Speaker 1: you know that's where it's going. It's not going to stop.

458
00:23:52,080 --> 00:23:54,200
Speaker 1: And so you know, on that note of sale shifted

459
00:23:54,240 --> 00:23:57,639
Speaker 1: to two solo one black cockxy help staff. Yeah, I

460
00:23:57,640 --> 00:23:59,520
Speaker 1: mean I think you know to to figure back off

461
00:23:59,560 --> 00:24:02,080
Speaker 1: that you and like you know, I think in general,

462
00:24:02,320 --> 00:24:04,520
Speaker 1: the answer has a lot to do with the idea

463
00:24:04,600 --> 00:24:08,960
Speaker 1: of just customizability for each person's you know, intended audience. Right, So,

464
00:24:09,040 --> 00:24:11,439
Speaker 1: like if you think about Cameo, right, like, you know,

465
00:24:11,480 --> 00:24:13,600
Speaker 1: I love Spencer to death, but like you know, he

466
00:24:13,680 --> 00:24:15,440
Speaker 1: may not be the type of person that makes a

467
00:24:15,520 --> 00:24:17,760
Speaker 1: killing off that platform, right based off of who it's

468
00:24:17,840 --> 00:24:20,040
Speaker 1: or even better, you know Patriot, right, he's not a

469
00:24:20,040 --> 00:24:22,560
Speaker 1: content producer. He's not gonna have and you know in

470
00:24:22,800 --> 00:24:26,760
Speaker 1: you know, in exclusive you know, documentary series or documentries

471
00:24:26,760 --> 00:24:29,080
Speaker 1: like some athletes do. But like for him personally, that's

472
00:24:29,119 --> 00:24:30,919
Speaker 1: not how he spends his free time, right, Like, so

473
00:24:30,960 --> 00:24:33,119
Speaker 1: in order to monetize that or like the reward of

474
00:24:33,400 --> 00:24:35,520
Speaker 1: you know, being on a platform like that, that becomes

475
00:24:35,520 --> 00:24:37,320
Speaker 1: a lot of work, right, Like when you were saying,

476
00:24:37,320 --> 00:24:39,159
Speaker 1: you know, at the beginning, you know, you want to

477
00:24:39,160 --> 00:24:41,480
Speaker 1: minimize the friction, right, Like, we keep coming to the

478
00:24:41,520 --> 00:24:43,840
Speaker 1: same idea, right, you know, take that example and apply

479
00:24:43,880 --> 00:24:46,200
Speaker 1: it to you know, an Instagram model, or to apply

480
00:24:46,240 --> 00:24:48,960
Speaker 1: it to a you know, a YouTuber, right Like, there

481
00:24:48,960 --> 00:24:51,520
Speaker 1: are people who are on YouTube who are not famous,

482
00:24:51,560 --> 00:24:54,160
Speaker 1: but they're famous to somebody, right and so like when

483
00:24:54,200 --> 00:24:57,080
Speaker 1: you think about that idea, right, there definitely is a

484
00:24:57,200 --> 00:24:59,679
Speaker 1: need for a platform that can meet the needs of them,

485
00:24:59,720 --> 00:25:01,880
Speaker 1: and they all exists in some way, shape or form.

486
00:25:01,880 --> 00:25:04,320
Speaker 1: There are a lot of unique interest gacies about Galaxy

487
00:25:04,400 --> 00:25:06,520
Speaker 1: that don't you know, you can't really find elsewhere. But

488
00:25:06,560 --> 00:25:08,600
Speaker 1: like the idea of doing a video message, right like,

489
00:25:08,640 --> 00:25:11,280
Speaker 1: are doing you know calls or you know, exclusive content

490
00:25:11,359 --> 00:25:14,040
Speaker 1: that does exist as to your point um, but you know,

491
00:25:14,560 --> 00:25:16,560
Speaker 1: in order to you know, monetize your fan base in

492
00:25:16,560 --> 00:25:18,440
Speaker 1: a holistic manner, you have to be on all these

493
00:25:18,440 --> 00:25:20,840
Speaker 1: different things and they might not even fit or suit you, right,

494
00:25:21,119 --> 00:25:22,919
Speaker 1: you know, depending on you know, who you are as

495
00:25:22,920 --> 00:25:24,840
Speaker 1: a person. If you're a YouTuber and you've got seventy

496
00:25:24,840 --> 00:25:27,119
Speaker 1: five thousand followers, like I'm sure of those seventy five

497
00:25:27,119 --> 00:25:29,439
Speaker 1: thousand dollars, there's a thousand people who think you're the

498
00:25:29,480 --> 00:25:31,439
Speaker 1: greatest person in the world, But like, are you going

499
00:25:31,480 --> 00:25:34,119
Speaker 1: to make a killing on cameo? Probably not when the

500
00:25:34,200 --> 00:25:36,439
Speaker 1: rock is offering the same thing, right, And so like

501
00:25:36,480 --> 00:25:38,479
Speaker 1: I think when you think about like our platform, you

502
00:25:38,560 --> 00:25:41,679
Speaker 1: create this sort of ecosystem, not to mention, you know,

503
00:25:41,760 --> 00:25:45,359
Speaker 1: the idea of the added benefit of integration of blockchain technology,

504
00:25:45,600 --> 00:25:47,359
Speaker 1: and you think about n f t s and you

505
00:25:47,359 --> 00:25:50,439
Speaker 1: think about the idea of ultimately tokenizing a person and

506
00:25:50,480 --> 00:25:53,360
Speaker 1: having them listed on in exchange one day, like that

507
00:25:53,440 --> 00:25:56,679
Speaker 1: future and that architecture is so innately important and like

508
00:25:56,760 --> 00:25:59,880
Speaker 1: our d NA, can you just talk briefly about your

509
00:26:00,000 --> 00:26:04,879
Speaker 1: technology choice? What platforms blockchains did you use and what

510
00:26:05,000 --> 00:26:07,600
Speaker 1: is the what was the thinking behind it? You know,

511
00:26:07,760 --> 00:26:11,440
Speaker 1: so when when building this platform and understanding that to

512
00:26:11,680 --> 00:26:14,240
Speaker 1: kind of future proofing in a sense, that's why we

513
00:26:14,560 --> 00:26:17,119
Speaker 1: use blockchain. I mean, you spoke about the cameos, and

514
00:26:17,560 --> 00:26:20,719
Speaker 1: you know only fans, patreons, etcetera. They don't, but you know,

515
00:26:20,800 --> 00:26:23,840
Speaker 1: we we view a you know, an ecosystem and environment

516
00:26:23,920 --> 00:26:26,639
Speaker 1: where not only are you showcasing n f t s,

517
00:26:26,680 --> 00:26:29,320
Speaker 1: but also you're gonna have kind of fluidity of these

518
00:26:29,359 --> 00:26:32,399
Speaker 1: these tokens in terms of the secondary market structure. You know,

519
00:26:32,440 --> 00:26:36,440
Speaker 1: and to do that efficiently and effectively, blockchain was was

520
00:26:36,480 --> 00:26:39,360
Speaker 1: going to be something that would would greatly help us.

521
00:26:40,000 --> 00:26:41,840
Speaker 1: So with that being said, you know, we started talking

522
00:26:41,960 --> 00:26:44,480
Speaker 1: layer ones and looking at which one has had the

523
00:26:44,760 --> 00:26:48,400
Speaker 1: most robust infrastructure to support that. You know, obviously Ethereum

524
00:26:48,440 --> 00:26:52,199
Speaker 1: comes up first because it's it's by far the biggest

525
00:26:52,240 --> 00:26:56,680
Speaker 1: smart contract layer one. They could do smart contracts, obviously,

526
00:26:57,080 --> 00:26:59,399
Speaker 1: but we we knew that crypto kitties had once kind

527
00:26:59,400 --> 00:27:01,760
Speaker 1: of throbbed in at working and fees were very high.

528
00:27:01,840 --> 00:27:04,320
Speaker 1: So you know, that wasn't gonna be appealing because if

529
00:27:04,320 --> 00:27:07,280
Speaker 1: we were bringing on people such as myself, Razcue Elliott

530
00:27:07,359 --> 00:27:10,119
Speaker 1: or you know, we just got a TikToker. Uh, you know,

531
00:27:10,640 --> 00:27:12,560
Speaker 1: excuse me, I don't know if TikToker is the right

532
00:27:12,920 --> 00:27:15,679
Speaker 1: normal clature, but somebody that is famous on TikTok has

533
00:27:15,680 --> 00:27:18,760
Speaker 1: about eight million followers on TikTok you know today we

534
00:27:18,800 --> 00:27:21,200
Speaker 1: just signed him up to Uh, if we bring all

535
00:27:21,200 --> 00:27:25,240
Speaker 1: those followers, right, we didn't want to throttle the the

536
00:27:25,280 --> 00:27:27,520
Speaker 1: app nor the etherory of network. We didn't want feat

537
00:27:27,560 --> 00:27:30,560
Speaker 1: of skyrocket and becoming usable, so you know, we figured

538
00:27:30,600 --> 00:27:32,800
Speaker 1: that probably wasn't gonna work in its current State. So

539
00:27:33,040 --> 00:27:37,080
Speaker 1: looking at other layer ones, whether it be Tesso's algorand

540
00:27:37,720 --> 00:27:40,920
Speaker 1: um just just several flow wasn't quite out of uh

541
00:27:41,280 --> 00:27:44,040
Speaker 1: you know, it's baita yet, So we we didn't choose them,

542
00:27:44,080 --> 00:27:46,399
Speaker 1: although I'm invested there. Uh, and we still don't have

543
00:27:46,480 --> 00:27:49,399
Speaker 1: their hashgraph. The reason for that, if you're looking at

544
00:27:49,400 --> 00:27:53,359
Speaker 1: their hashgraph, they have you know, a council with fortunate

545
00:27:53,920 --> 00:27:55,840
Speaker 1: companies that we had to pitch and get a grant.

546
00:27:55,920 --> 00:27:58,800
Speaker 1: So you know, there's there's incredible reputation Chris management to

547
00:27:58,800 --> 00:28:00,920
Speaker 1: be aligned with, you know, people like Google and and

548
00:28:01,160 --> 00:28:05,840
Speaker 1: LG and IBM and d L A. Piper and Deutsche Telecom, uh,

549
00:28:05,920 --> 00:28:08,640
Speaker 1: to name a few. On top of that, they're they're

550
00:28:08,680 --> 00:28:12,240
Speaker 1: kind of considered the next generation blockchain. They technically aren't

551
00:28:12,280 --> 00:28:16,800
Speaker 1: blockchain shipping. They actually are hashgraph technology literally. UM. The

552
00:28:17,080 --> 00:28:19,840
Speaker 1: only one that comes to uh, you know, a complete

553
00:28:19,840 --> 00:28:23,359
Speaker 1: finality Asyncer in his busy team fault tolerant UM. So

554
00:28:23,359 --> 00:28:26,440
Speaker 1: it's the highest level of security. That it was created

555
00:28:26,480 --> 00:28:29,000
Speaker 1: by a guy that used to be a part of

556
00:28:29,000 --> 00:28:31,119
Speaker 1: the Department of Defense. You know, you look at the

557
00:28:31,160 --> 00:28:34,040
Speaker 1: other projects they that they're networks just out racially robust

558
00:28:34,119 --> 00:28:37,000
Speaker 1: and so you know, when when when choosing a layer one,

559
00:28:37,119 --> 00:28:38,960
Speaker 1: like why not align yourself with some of the top

560
00:28:39,000 --> 00:28:41,120
Speaker 1: companies in the world, Like, you know, it's it's a

561
00:28:41,320 --> 00:28:44,280
Speaker 1: it's an honor to for when their hashcraft puts out

562
00:28:44,440 --> 00:28:47,400
Speaker 1: you know, their partner's list to see Google, IBM, Coxi,

563
00:28:47,640 --> 00:28:49,520
Speaker 1: you know what I mean, Like, it's pretty killer. And

564
00:28:49,960 --> 00:28:53,040
Speaker 1: granted our balance sheet doesn't necessarily look like there's as

565
00:28:53,040 --> 00:28:55,720
Speaker 1: of now, but to be in that same breath at

566
00:28:55,720 --> 00:28:59,440
Speaker 1: this early stage, you know, is both humbling and instrument

567
00:28:59,880 --> 00:29:01,880
Speaker 1: and aspiring. So you know, for the to get their

568
00:29:01,920 --> 00:29:04,520
Speaker 1: standpard approval and all that stuff, it seems like a

569
00:29:04,560 --> 00:29:07,240
Speaker 1: no brainer for us. So I know you're still in beta,

570
00:29:07,440 --> 00:29:12,520
Speaker 1: but what have you learned from applying blockchain technology so far?

571
00:29:12,640 --> 00:29:15,440
Speaker 1: Because one of the criticisms of blockchain is this idea

572
00:29:15,600 --> 00:29:18,480
Speaker 1: that it's sort of a solution in need of a

573
00:29:18,600 --> 00:29:22,280
Speaker 1: problem and that real world applications actually either you know,

574
00:29:22,360 --> 00:29:24,480
Speaker 1: don't exist or there aren't that many of them. So

575
00:29:24,560 --> 00:29:27,600
Speaker 1: I'm just curious, like, as you roll this out, what

576
00:29:27,840 --> 00:29:32,520
Speaker 1: have you discovered about the benefits or drawbacks of blockchain? Yeah,

577
00:29:32,800 --> 00:29:34,560
Speaker 1: I mean I think from my side of things, what

578
00:29:35,040 --> 00:29:37,200
Speaker 1: you know, what we what we discovered. I guess like

579
00:29:37,320 --> 00:29:39,400
Speaker 1: from our side of things is that you know, there

580
00:29:39,520 --> 00:29:41,560
Speaker 1: are you know, there is a big need and and

581
00:29:41,840 --> 00:29:45,160
Speaker 1: a big want actually to to understand this technology. Right Like,

582
00:29:45,240 --> 00:29:47,640
Speaker 1: we're not the only ones and Spencer being you know,

583
00:29:47,760 --> 00:29:51,080
Speaker 1: one of the trailblazers in the entertainment industry to really

584
00:29:51,160 --> 00:29:53,160
Speaker 1: be one of the early adopters of it. Like you know,

585
00:29:53,200 --> 00:29:55,360
Speaker 1: a lot of people followed suit, right, you know, we

586
00:29:55,880 --> 00:29:58,400
Speaker 1: you know, we're actually you know, really close as Matt James,

587
00:29:58,560 --> 00:30:01,400
Speaker 1: the most recent Bash learning that he you know, it's

588
00:30:01,520 --> 00:30:04,040
Speaker 1: very much so involved in you know, learning more about

589
00:30:04,040 --> 00:30:06,480
Speaker 1: the technology himself and so like in this process of

590
00:30:06,600 --> 00:30:09,120
Speaker 1: onboarding different creators and things like that, you know, the

591
00:30:09,200 --> 00:30:11,920
Speaker 1: blockchain thing wasn't something they shied away from quite honestly,

592
00:30:11,960 --> 00:30:14,640
Speaker 1: it was something that they leaned into because they saw

593
00:30:14,800 --> 00:30:16,680
Speaker 1: the future, They saw a lot of the benefits. And

594
00:30:17,040 --> 00:30:18,680
Speaker 1: you know, I think one thing that we wanted to

595
00:30:18,760 --> 00:30:22,000
Speaker 1: be absolutely deliberate on and you know, very clear, um,

596
00:30:22,200 --> 00:30:24,360
Speaker 1: you know on was creating a product that was out

597
00:30:24,360 --> 00:30:27,240
Speaker 1: of something that made sense and something that wasn't going

598
00:30:27,320 --> 00:30:30,440
Speaker 1: to confuse you know, the average person you know in

599
00:30:30,520 --> 00:30:32,960
Speaker 1: Middle America a right, like when it comes to creating

600
00:30:33,040 --> 00:30:36,080
Speaker 1: something that, um, you know, is highly functioning, but at

601
00:30:36,120 --> 00:30:38,760
Speaker 1: the same time, you know, something that's easy to use.

602
00:30:38,800 --> 00:30:40,440
Speaker 1: When you think about like kind of Apple and like

603
00:30:40,520 --> 00:30:42,640
Speaker 1: creating a project, you know, a product that's you know,

604
00:30:42,760 --> 00:30:44,920
Speaker 1: supremely capable, but at the same time you don't know

605
00:30:45,040 --> 00:30:47,400
Speaker 1: how it works. It just works, right, UM. And so

606
00:30:47,520 --> 00:30:49,520
Speaker 1: when we think about you know, our product and stuff,

607
00:30:49,520 --> 00:30:50,680
Speaker 1: you know, we found that you know a lot of

608
00:30:50,720 --> 00:30:53,280
Speaker 1: people have been really excited. Um. You know, not only

609
00:30:53,360 --> 00:30:56,200
Speaker 1: for solving the real world issue about there needs to

610
00:30:56,240 --> 00:30:59,320
Speaker 1: be some sort of one ecosystem to develop you know,

611
00:30:59,360 --> 00:31:01,880
Speaker 1: a fan base or community, but then also you know,

612
00:31:02,040 --> 00:31:04,440
Speaker 1: creating the opportunity and the we know path to be

613
00:31:04,520 --> 00:31:06,520
Speaker 1: able to kind of help educate and you know, teach

614
00:31:06,960 --> 00:31:09,120
Speaker 1: um and bring crypto you know, very similarly to the

615
00:31:09,320 --> 00:31:11,240
Speaker 1: you know, to our partner, you know, to uh you know,

616
00:31:11,360 --> 00:31:14,200
Speaker 1: to the Flow project, and you know Rohan is you know,

617
00:31:14,240 --> 00:31:17,400
Speaker 1: an advisor to our project, the CEO of Japper Labs, um,

618
00:31:17,520 --> 00:31:19,560
Speaker 1: you know, in their whole ethos about kind of bringing

619
00:31:19,600 --> 00:31:22,600
Speaker 1: crypto ites and the masses through games. You know, very similarly,

620
00:31:22,680 --> 00:31:24,640
Speaker 1: we're trying to do you know, a very similar thing here,

621
00:31:25,000 --> 00:31:27,840
Speaker 1: um with creator economies and social media and so um,

622
00:31:27,920 --> 00:31:29,680
Speaker 1: you know, from our side of things, it's you know,

623
00:31:29,760 --> 00:31:31,600
Speaker 1: we've learned a lot um, you know, and we've been

624
00:31:31,640 --> 00:31:33,480
Speaker 1: able to iterate and continue to grow and build a

625
00:31:33,520 --> 00:31:36,800
Speaker 1: product that's you know, truly and organically felt like it's

626
00:31:36,840 --> 00:31:39,400
Speaker 1: been built by the creators, you know, center and influencer himself.

627
00:31:39,440 --> 00:31:41,479
Speaker 1: He goes in Brooklyn nets like behind this, we had

628
00:31:41,480 --> 00:31:44,040
Speaker 1: a lot of you know, great information that a couple

629
00:31:44,040 --> 00:31:46,239
Speaker 1: of dudes in Silicon Valley with a similar idea may

630
00:31:46,320 --> 00:31:48,560
Speaker 1: not have had, just by the fact that like, you know,

631
00:31:48,640 --> 00:31:50,680
Speaker 1: our network, our friends and family, like the creators that

632
00:31:50,720 --> 00:31:53,880
Speaker 1: we've on board so far, our personal relationships and um,

633
00:31:53,960 --> 00:31:56,040
Speaker 1: you know, it's starting to get a lot of inbounds obviously,

634
00:31:56,120 --> 00:31:57,920
Speaker 1: but you know, kind of the initial cohord that we

635
00:31:57,960 --> 00:32:00,280
Speaker 1: started with um, you know, helped us you know last

636
00:32:00,320 --> 00:32:19,120
Speaker 1: as beginning points. So the last year has obviously been

637
00:32:19,280 --> 00:32:23,280
Speaker 1: incredible for all things crypto. Obviously, the big coins had

638
00:32:23,280 --> 00:32:29,320
Speaker 1: an incredible year, and top Shot became a phenomenon. Uh spencer.

639
00:32:29,400 --> 00:32:31,080
Speaker 1: You know, we were talking about the beginning. You're you're

640
00:32:31,240 --> 00:32:33,880
Speaker 1: very early on all that stuff. I'm curious, like what

641
00:32:34,120 --> 00:32:37,080
Speaker 1: you've seen, like in the locker room and so forth

642
00:32:37,280 --> 00:32:39,560
Speaker 1: as other players have like do they turn to you

643
00:32:39,800 --> 00:32:42,880
Speaker 1: to like help help them like understand and navigate all

644
00:32:42,960 --> 00:32:46,400
Speaker 1: this navigate all this stuff. Uh yeah, a little bit,

645
00:32:46,640 --> 00:32:49,840
Speaker 1: I think. Um, for me personally, I'm not gonna lie.

646
00:32:49,880 --> 00:32:54,040
Speaker 1: It's it's much better being asked questions and being laughed at. Seen.

647
00:32:54,080 --> 00:32:59,720
Speaker 1: I was definitely laughed for sure. Laughed, sure, for sure

648
00:32:59,800 --> 00:33:02,840
Speaker 1: laugh that. But no, in all seriousness, I think, Um,

649
00:33:03,320 --> 00:33:05,800
Speaker 1: you know, overall, since I've been in the league, I

650
00:33:05,960 --> 00:33:08,719
Speaker 1: think people have spoken about the shift that's happened since

651
00:33:08,760 --> 00:33:10,440
Speaker 1: I would say probably to go on in ten and

652
00:33:10,600 --> 00:33:12,240
Speaker 1: now on we got it in the fourteen, but the

653
00:33:12,480 --> 00:33:15,000
Speaker 1: the education process of the athlete as a whole. I

654
00:33:15,080 --> 00:33:17,680
Speaker 1: think guys are much more involved in their finances. I

655
00:33:17,760 --> 00:33:20,360
Speaker 1: think we have a lot of brilliant guys, um um

656
00:33:20,440 --> 00:33:24,040
Speaker 1: that are that are looking to form generational wealth, whether

657
00:33:24,320 --> 00:33:26,600
Speaker 1: in whatever avenue that is what it's real estate, traditional

658
00:33:26,960 --> 00:33:29,320
Speaker 1: you know, stocks and equities and things, or now in

659
00:33:29,400 --> 00:33:32,120
Speaker 1: emergent technologies. And I know BC was kind of the

660
00:33:32,200 --> 00:33:37,320
Speaker 1: wave right before blockchain really kind of took over. Um,

661
00:33:37,960 --> 00:33:40,520
Speaker 1: So it's been fun to get asked those questions. UM.

662
00:33:40,600 --> 00:33:43,840
Speaker 1: I actually shy away from from offering explicit advice. I

663
00:33:43,920 --> 00:33:46,760
Speaker 1: mean I discussed my partners all the time. Yeah, I

664
00:33:46,840 --> 00:33:51,040
Speaker 1: discussed my partners all the time. As financial journalists, this

665
00:33:51,200 --> 00:33:53,920
Speaker 1: is one area that maybe we could actually genuine related.

666
00:33:54,160 --> 00:33:56,840
Speaker 1: Tracy and I have a lot of experience and being

667
00:33:56,960 --> 00:34:01,480
Speaker 1: asked financial questions from friends and family to buy anything,

668
00:34:01,560 --> 00:34:04,000
Speaker 1: to which we have absolutely no good advice. We're just

669
00:34:04,080 --> 00:34:05,920
Speaker 1: like you buy an index fund or something like that.

670
00:34:06,120 --> 00:34:08,080
Speaker 1: I tell them, I tell them, you know, I personally

671
00:34:08,120 --> 00:34:11,400
Speaker 1: invested in bigcoin. I tell them that my my platform

672
00:34:11,560 --> 00:34:14,440
Speaker 1: is built on hash draft. Two of my main partners

673
00:34:14,480 --> 00:34:18,279
Speaker 1: are are Flow and chain Link, and other than that,

674
00:34:18,600 --> 00:34:20,719
Speaker 1: I would encourage you to do as much research as

675
00:34:20,760 --> 00:34:23,480
Speaker 1: you possibly can. That's the biggest start I can give you.

676
00:34:23,880 --> 00:34:26,160
Speaker 1: And that's just from a transparent place and something that

677
00:34:26,200 --> 00:34:29,080
Speaker 1: you could read online. So obviously I'm gonna be invested

678
00:34:29,120 --> 00:34:31,800
Speaker 1: with my partners, and and saying I'm gonna support a

679
00:34:31,840 --> 00:34:34,600
Speaker 1: bigcoin is no no secret at all. So you know

680
00:34:34,760 --> 00:34:36,640
Speaker 1: that's what I'll give you. Um, if you want to

681
00:34:36,680 --> 00:34:39,719
Speaker 1: talk about the big picture and where I think distributed technology,

682
00:34:39,760 --> 00:34:43,840
Speaker 1: distributed ledger technology can kind of take markets in a

683
00:34:43,920 --> 00:34:47,120
Speaker 1: comprehensive fashion, I definitely have to do that and I

684
00:34:47,200 --> 00:34:49,560
Speaker 1: can talk to her off all day, but but explicit

685
00:34:49,640 --> 00:34:53,160
Speaker 1: investment advice I definitely shot away from because I don't

686
00:34:53,200 --> 00:34:55,000
Speaker 1: want to be the guy that says, you know, do this,

687
00:34:55,239 --> 00:34:57,239
Speaker 1: and you know you lose some money and now you'm

688
00:34:57,280 --> 00:35:00,279
Speaker 1: ad at me. Yeah, that's good advice, and that that's

689
00:35:00,560 --> 00:35:03,240
Speaker 1: that's exactly what I think anytime someone asked me a question.

690
00:35:03,280 --> 00:35:05,600
Speaker 1: I just don't want to cost anyone their money now,

691
00:35:05,680 --> 00:35:11,520
Speaker 1: and then you're not welcome back for Thanksgiving dinner. Um,

692
00:35:11,840 --> 00:35:14,200
Speaker 1: there was something I wanted to ask you that Joe

693
00:35:14,280 --> 00:35:16,759
Speaker 1: and I sort of alluded to in the intro, and

694
00:35:16,880 --> 00:35:20,640
Speaker 1: it was this idea of, I guess the moral dimensions

695
00:35:21,040 --> 00:35:24,640
Speaker 1: of selling some sort of financial interests that is tied

696
00:35:24,760 --> 00:35:28,440
Speaker 1: to people. Um. Obviously, when you say a sentence like that,

697
00:35:28,640 --> 00:35:31,879
Speaker 1: it tends to make people squeamish. And I remember after

698
00:35:32,040 --> 00:35:34,480
Speaker 1: the two thousand eight financial crisis, when there was so

699
00:35:34,640 --> 00:35:40,080
Speaker 1: much criticism of the process of securitization in itself. Every

700
00:35:40,160 --> 00:35:42,160
Speaker 1: once in a while, there would be like an idea

701
00:35:42,280 --> 00:35:46,040
Speaker 1: that would pop up about securitizing people's future income streams,

702
00:35:46,160 --> 00:35:51,000
Speaker 1: Like maybe you sell a student's future income and they

703
00:35:51,160 --> 00:35:53,400
Speaker 1: use that money to actually go to college or something

704
00:35:53,480 --> 00:35:56,680
Speaker 1: like that, but every time the idea came up, people

705
00:35:56,719 --> 00:36:01,080
Speaker 1: would sort of instinctively feel uncomfortable with it. It feels

706
00:36:01,239 --> 00:36:05,640
Speaker 1: like things are changing a little bit. People you know this.

707
00:36:06,360 --> 00:36:10,080
Speaker 1: I guess our familiarity with content creation now maybe has

708
00:36:10,120 --> 00:36:12,600
Speaker 1: sort of changed that equation. But I'm just curious how

709
00:36:12,640 --> 00:36:16,200
Speaker 1: you're thinking about the moral to mention of all of this. Yeah,

710
00:36:16,600 --> 00:36:19,560
Speaker 1: I mean, on that note, I think you're test on

711
00:36:19,640 --> 00:36:23,320
Speaker 1: something that's good. Content creation is much more prevalent. But

712
00:36:23,480 --> 00:36:26,520
Speaker 1: but the two factors that I think make this an

713
00:36:26,600 --> 00:36:29,719
Speaker 1: actual functioning ecosystem. And this really has nothing to do

714
00:36:29,840 --> 00:36:32,480
Speaker 1: with technology, but it's the reason why, like it's gonna

715
00:36:32,480 --> 00:36:35,680
Speaker 1: be easier for me to secure something versus like a

716
00:36:35,760 --> 00:36:39,600
Speaker 1: college student. You need somebody that's has, you know, semi

717
00:36:39,680 --> 00:36:42,600
Speaker 1: public to public cash flows so that it's not a

718
00:36:42,640 --> 00:36:44,759
Speaker 1: situation where they can really high and divert money and

719
00:36:44,800 --> 00:36:47,239
Speaker 1: try to screw their investors. Because you know, in more

720
00:36:47,560 --> 00:36:50,320
Speaker 1: normal situations that wouldn't be too difficult to try to

721
00:36:50,560 --> 00:36:52,239
Speaker 1: try to do. But if you know, obviously I'm in

722
00:36:52,280 --> 00:36:55,840
Speaker 1: the NBA and my contract is public, that I can't

723
00:36:56,239 --> 00:36:58,200
Speaker 1: And then other than that, I would say, you have

724
00:36:58,280 --> 00:37:00,680
Speaker 1: to have the incentives be aligned. You know, it can't

725
00:37:00,680 --> 00:37:05,080
Speaker 1: be a situation where I some entire contract and then

726
00:37:05,320 --> 00:37:08,279
Speaker 1: if I play really bad, you know, nothing matters, and

727
00:37:08,360 --> 00:37:10,200
Speaker 1: so I can take an injury and just sit down

728
00:37:10,280 --> 00:37:12,600
Speaker 1: and whatever it is, and you know, and just put

729
00:37:13,040 --> 00:37:16,600
Speaker 1: not only myself, put investors in kind of a you know,

730
00:37:16,960 --> 00:37:20,640
Speaker 1: less the advantageous position. It has to be a situation where, um,

731
00:37:20,880 --> 00:37:23,120
Speaker 1: you know, the incentives are aligned. You make it so

732
00:37:23,239 --> 00:37:26,960
Speaker 1: there there's hopefully some some promising returns for the investors

733
00:37:27,000 --> 00:37:30,120
Speaker 1: of course, but also you know, it encourages the athlete

734
00:37:30,120 --> 00:37:33,800
Speaker 1: to continue to play well and win games and do

735
00:37:34,040 --> 00:37:37,319
Speaker 1: right and and all that stuff. So yeah, I mean

736
00:37:37,360 --> 00:37:39,480
Speaker 1: I think from my side of things too, like as

737
00:37:39,560 --> 00:37:43,239
Speaker 1: a you know, the securitization banker in a previous life. Um,

738
00:37:43,440 --> 00:37:45,279
Speaker 1: you know, I think when you think about kind of

739
00:37:45,480 --> 00:37:47,880
Speaker 1: the unit recession of two thousand and eight versus kind

740
00:37:47,920 --> 00:37:49,640
Speaker 1: of now, I mean, I think, you know, there's a

741
00:37:49,680 --> 00:37:51,560
Speaker 1: lot of different points, you know, places that you can

742
00:37:51,640 --> 00:37:53,600
Speaker 1: point to, uh, you know, where you think that there

743
00:37:53,640 --> 00:37:56,320
Speaker 1: are inequities in terms of the education level that you know,

744
00:37:56,400 --> 00:37:58,640
Speaker 1: people might have investing in these sorts of things. And

745
00:37:58,960 --> 00:38:00,400
Speaker 1: you know, obviously this is some thing that you know

746
00:38:00,440 --> 00:38:02,680
Speaker 1: we've touched upon, you know immediately in day one, is

747
00:38:02,719 --> 00:38:05,000
Speaker 1: this something that Calexy is really looking to you know,

748
00:38:05,080 --> 00:38:07,839
Speaker 1: commercialize as a business. Not exactly, Um, you know, it's

749
00:38:07,880 --> 00:38:10,360
Speaker 1: definitely a part of our bigger macro picture that center

750
00:38:10,480 --> 00:38:12,880
Speaker 1: you know has put together and his thoughts and stuff.

751
00:38:12,920 --> 00:38:16,640
Speaker 1: But when you think about, um, you know, just general education, right,

752
00:38:16,760 --> 00:38:20,080
Speaker 1: Like the barriers to entry to trading are couldn't be lower, right,

753
00:38:20,160 --> 00:38:22,840
Speaker 1: Like people are getting you know, five ten dollars to

754
00:38:23,000 --> 00:38:26,000
Speaker 1: open up brokerage accounts and start trading on different platforms,

755
00:38:26,080 --> 00:38:27,239
Speaker 1: and you know there are a lot of people what

756
00:38:27,320 --> 00:38:28,920
Speaker 1: do you think about like game stop and you know

757
00:38:29,080 --> 00:38:31,520
Speaker 1: AMC and different things that you saw this year, and

758
00:38:31,719 --> 00:38:33,200
Speaker 1: you know, the idea of you know, people a wanting

759
00:38:33,239 --> 00:38:35,760
Speaker 1: to take on their own personal finances. You know, twenty

760
00:38:35,840 --> 00:38:37,800
Speaker 1: thirty years ago, it wasn't the case that the average

761
00:38:37,840 --> 00:38:39,840
Speaker 1: Joe was traded, um. But you know that's not the

762
00:38:39,920 --> 00:38:42,080
Speaker 1: case now and that's distinctly different. And so you know

763
00:38:42,200 --> 00:38:44,640
Speaker 1: to your point, you know talking about you know, securitization

764
00:38:44,760 --> 00:38:47,320
Speaker 1: and how it's had this stigma around it. Um. You know,

765
00:38:47,360 --> 00:38:49,280
Speaker 1: there are a lot of different areas within the financial

766
00:38:49,320 --> 00:38:51,960
Speaker 1: industry that you know, obviously require a little bit more

767
00:38:52,200 --> 00:38:54,200
Speaker 1: you know, education around the ways in which that you

768
00:38:54,239 --> 00:38:56,959
Speaker 1: can use this you know access for you know quite

769
00:38:57,080 --> 00:39:00,920
Speaker 1: great wealth creation and building over time. But um, you know,

770
00:39:00,960 --> 00:39:04,000
Speaker 1: when you think about the idea of you know, securitizing

771
00:39:04,040 --> 00:39:05,840
Speaker 1: a person, you know that ultimately, you know, is the

772
00:39:06,400 --> 00:39:08,000
Speaker 1: is the way in which that you think about the future.

773
00:39:08,080 --> 00:39:10,360
Speaker 1: Right Like if you're Lebron James or you're somebody with

774
00:39:10,440 --> 00:39:13,600
Speaker 1: a very you know, large empire, there should be different

775
00:39:13,640 --> 00:39:16,160
Speaker 1: means and alternatives for financing outside of just you know,

776
00:39:16,200 --> 00:39:18,560
Speaker 1: going to a bank for a traditional law especially you know,

777
00:39:18,640 --> 00:39:21,000
Speaker 1: as Spencer mentioned, if you have public you know cash

778
00:39:21,080 --> 00:39:23,520
Speaker 1: flows because you know, outside of that, there are people

779
00:39:23,640 --> 00:39:25,440
Speaker 1: you know taking out I can't remember, you know, it

780
00:39:25,520 --> 00:39:27,040
Speaker 1: might have been a year ago, it might have been

781
00:39:27,040 --> 00:39:28,800
Speaker 1: a couple of years ago that since they're not this conversation,

782
00:39:28,840 --> 00:39:31,359
Speaker 1: but there are you know, people that take out egregious

783
00:39:31,440 --> 00:39:33,680
Speaker 1: loans to be able to you know cash advance their lives,

784
00:39:33,840 --> 00:39:36,080
Speaker 1: right Like they'll take out loans that you know crazy,

785
00:39:36,239 --> 00:39:39,440
Speaker 1: you know, you know, when there could be a lot

786
00:39:39,600 --> 00:39:42,399
Speaker 1: more you know, efficient ways to to to finance your life,

787
00:39:42,480 --> 00:39:44,800
Speaker 1: especially if you you know, have the you know, the

788
00:39:44,880 --> 00:39:48,080
Speaker 1: validity behind it. Spencer, you might if I just ask

789
00:39:48,120 --> 00:39:51,640
Speaker 1: you if you general not specific blockchain related questions, like

790
00:39:51,719 --> 00:39:54,480
Speaker 1: real quickly, a little quick like lightning round of other questions,

791
00:39:57,080 --> 00:39:59,560
Speaker 1: how would you summarize why it feels like NBA is

792
00:39:59,640 --> 00:40:02,160
Speaker 1: just on such a better job. So many people I

793
00:40:02,239 --> 00:40:05,000
Speaker 1: know are so into the NBA. They like talk about

794
00:40:05,040 --> 00:40:07,440
Speaker 1: the NBA, They like talking about the players of the NBA,

795
00:40:07,680 --> 00:40:10,200
Speaker 1: like yourself, in a way that I don't see with

796
00:40:10,400 --> 00:40:13,480
Speaker 1: other leagues. Like what do you think it is? That's

797
00:40:13,480 --> 00:40:16,200
Speaker 1: like the NBA has really like figured out something culturally.

798
00:40:16,480 --> 00:40:20,520
Speaker 1: I think the NBA has embraced emerging technologies UMAN and

799
00:40:21,239 --> 00:40:23,839
Speaker 1: this is a complete non blockchain techt thing I'm talking about,

800
00:40:23,840 --> 00:40:28,439
Speaker 1: like streaming of YouTube highlights making easily accessible. I think

801
00:40:28,800 --> 00:40:31,520
Speaker 1: you know they didn't put they didn't try to block

802
00:40:31,560 --> 00:40:34,480
Speaker 1: like the copyrights USA. So you see all these comedian

803
00:40:34,600 --> 00:40:37,480
Speaker 1: things happen on your highlights, and the shoulding this content

804
00:40:37,520 --> 00:40:39,680
Speaker 1: and repersing this content, and so you try to be

805
00:40:39,880 --> 00:40:43,960
Speaker 1: fans right, especially in uh, you know, foreign countries when

806
00:40:44,000 --> 00:40:47,160
Speaker 1: it's it's hard to watch the games live. I think

807
00:40:47,200 --> 00:40:50,160
Speaker 1: another component of basketball that that makes it very attractive

808
00:40:50,239 --> 00:40:53,080
Speaker 1: to fans. You can see our faith, we seem like

809
00:40:53,160 --> 00:40:56,360
Speaker 1: human beings. Um, this is uh no shot to football

810
00:40:56,360 --> 00:40:58,200
Speaker 1: anything like that. But obviously they have to wear howmets

811
00:40:58,200 --> 00:41:01,120
Speaker 1: we're protected, right, But you know, you don't necessarily know

812
00:41:01,280 --> 00:41:03,560
Speaker 1: the person behind the mask unless he's the quarterback. Like

813
00:41:03,680 --> 00:41:05,239
Speaker 1: quarterbacks take off there comes all the time, so you

814
00:41:05,320 --> 00:41:06,960
Speaker 1: know him. But other than that, I couldn't tell you

815
00:41:07,080 --> 00:41:08,799
Speaker 1: the linement if you walk down the street, the fact

816
00:41:08,800 --> 00:41:12,560
Speaker 1: that he's probably you know, outrageously you know musket right.

817
00:41:13,400 --> 00:41:16,160
Speaker 1: Basketball players are recognizable, not just in terms, not just

818
00:41:16,680 --> 00:41:18,760
Speaker 1: from the standpoint of seeing our Facebook also obviously statue

819
00:41:18,760 --> 00:41:21,120
Speaker 1: you see the sixth stight person walking down the street

820
00:41:21,600 --> 00:41:23,560
Speaker 1: and his face is familiar or probably think he's a

821
00:41:23,760 --> 00:41:26,600
Speaker 1: you know, a brooken net player. So so just thinking

822
00:41:26,680 --> 00:41:29,680
Speaker 1: that nature allowed a lot of innvati scale just familiarity

823
00:41:29,719 --> 00:41:32,480
Speaker 1: and fans minds, um allowing players to be more vocal

824
00:41:32,560 --> 00:41:35,920
Speaker 1: about you know, issues, whether it be uh, you know,

825
00:41:36,080 --> 00:41:39,640
Speaker 1: social or economics or you know whatever it is. So

826
00:41:39,880 --> 00:41:42,799
Speaker 1: so that kind of broad ranging where you have outspoken

827
00:41:42,840 --> 00:41:46,000
Speaker 1: people you see they're facing the recognizable um. Allowing your

828
00:41:46,000 --> 00:41:50,560
Speaker 1: content to be repurposed and used for fun, for business,

829
00:41:50,680 --> 00:41:53,600
Speaker 1: for whatever it is. It just creates a kind of

830
00:41:53,680 --> 00:41:58,600
Speaker 1: wildfire type of distribution. So what do you do? You mentioned,

831
00:41:58,640 --> 00:42:01,320
Speaker 1: if someone sees you walk around in Brooklyn, they probably

832
00:42:01,960 --> 00:42:04,520
Speaker 1: might guess you're a basketball player. What's your what's your

833
00:42:04,560 --> 00:42:06,400
Speaker 1: off court life in Brooklyn? Like, what do you like

834
00:42:06,520 --> 00:42:09,000
Speaker 1: to do? Oh? I mean before I started playing, well,

835
00:42:09,040 --> 00:42:10,920
Speaker 1: I mean I would just kind of I mean, I

836
00:42:11,000 --> 00:42:13,960
Speaker 1: wear sweats, hoodie, you know, stuff like that every day.

837
00:42:14,000 --> 00:42:16,319
Speaker 1: So I'm a very chill person and were vans every

838
00:42:16,400 --> 00:42:19,839
Speaker 1: day before I started playing. Well, you know, people might

839
00:42:20,160 --> 00:42:23,040
Speaker 1: like catch a glance and then if I make eye contacted,

840
00:42:23,160 --> 00:42:25,839
Speaker 1: like are you I mean, I don't know, maybe you are,

841
00:42:26,360 --> 00:42:27,920
Speaker 1: and you can kind of keep walking and stuff like that.

842
00:42:28,040 --> 00:42:30,400
Speaker 1: Now obviously you haven't, haven't played better and things like that.

843
00:42:30,880 --> 00:42:33,960
Speaker 1: You know, I'm more immediately recognizable. But you know, in

844
00:42:34,040 --> 00:42:37,000
Speaker 1: that respect, I take it in strike and I actually

845
00:42:37,080 --> 00:42:39,439
Speaker 1: enjoy it just from the standpoint off. I understand where

846
00:42:39,440 --> 00:42:41,120
Speaker 1: it's like to be on the other side of that,

847
00:42:41,360 --> 00:42:44,560
Speaker 1: and I understand the fans create this ecosystem. I think

848
00:42:44,640 --> 00:42:49,080
Speaker 1: that's one of the biggest benefits of building app and

849
00:42:49,400 --> 00:42:52,600
Speaker 1: going through the tokenization and exploring entertainment isstueing and learning

850
00:42:52,640 --> 00:42:55,480
Speaker 1: how the NBA was built. You know, on a non

851
00:42:55,520 --> 00:42:57,680
Speaker 1: profit system at all, just a bunch of different things.

852
00:42:57,719 --> 00:43:00,799
Speaker 1: You understand, at the end of the day, fan make

853
00:43:00,920 --> 00:43:03,600
Speaker 1: this thing work. If fans spend their money, we all

854
00:43:03,680 --> 00:43:06,560
Speaker 1: have jobs. If they don't, then we don't know. What

855
00:43:06,600 --> 00:43:08,680
Speaker 1: I'm saying is that kind of drives that simple? Like

856
00:43:08,760 --> 00:43:11,480
Speaker 1: from an economics perspective, No bid, there's beuying an NBA

857
00:43:11,600 --> 00:43:14,640
Speaker 1: team if it wasn't a revenue generating entity. At the

858
00:43:14,719 --> 00:43:16,759
Speaker 1: end of the day, that's where it is. Whether whether

859
00:43:16,800 --> 00:43:18,560
Speaker 1: the stock goes up or you actually a cash for

860
00:43:18,600 --> 00:43:21,400
Speaker 1: a positive one of them has to happen for for

861
00:43:21,480 --> 00:43:23,839
Speaker 1: a being there to want to, you know, dive into

862
00:43:23,880 --> 00:43:26,200
Speaker 1: this business. And so you know, I try to be

863
00:43:26,400 --> 00:43:30,800
Speaker 1: as uh cordial, as inviting and as appreciative to the

864
00:43:30,840 --> 00:43:32,840
Speaker 1: fans because they allow me to live it like that

865
00:43:33,120 --> 00:43:34,920
Speaker 1: that I live it, you know that. And as long

866
00:43:34,960 --> 00:43:38,000
Speaker 1: a thing approached me with common curacy and respect, you know,

867
00:43:38,440 --> 00:43:41,319
Speaker 1: then then why would I approach them like there're any

868
00:43:41,640 --> 00:43:44,879
Speaker 1: less of that same human being? We're all humans. Great?

869
00:43:44,960 --> 00:43:48,600
Speaker 1: Great answer. Final final question were recording the June seventh,

870
00:43:48,960 --> 00:43:51,640
Speaker 1: As you mentioned your team, the Nets are playing the

871
00:43:51,680 --> 00:43:54,680
Speaker 1: Bucks tonight in the playoffs. You're injured, right now, so

872
00:43:54,719 --> 00:43:57,160
Speaker 1: you're not participating. What is that like sort of like

873
00:43:57,520 --> 00:43:59,719
Speaker 1: as you like watch those games from the sideline. I mean,

874
00:43:59,760 --> 00:44:02,399
Speaker 1: I'm sure it's like brutal not being on the court

875
00:44:02,440 --> 00:44:04,239
Speaker 1: and supporting your team. But how do you how do

876
00:44:04,280 --> 00:44:07,320
Speaker 1: you deal with that? It's tough. I've had, you know,

877
00:44:07,560 --> 00:44:11,040
Speaker 1: two main injuries in my life. One was a c

878
00:44:11,239 --> 00:44:13,840
Speaker 1: on my left knee, was my right knee. You know,

879
00:44:13,920 --> 00:44:15,560
Speaker 1: when when you when you're on the sideline, it's kind

880
00:44:15,560 --> 00:44:18,960
Speaker 1: of an introspective experience. I would say it was weird

881
00:44:19,200 --> 00:44:22,040
Speaker 1: watching this season just from the standpoint of you saw

882
00:44:22,120 --> 00:44:24,759
Speaker 1: the bubble, then you saw this season where we played

883
00:44:24,760 --> 00:44:27,160
Speaker 1: in arenas with no fans. But I'll tell you what

884
00:44:27,280 --> 00:44:31,359
Speaker 1: with these fans back, with the energy in this playoff atmosphere. Uh,

885
00:44:31,600 --> 00:44:33,880
Speaker 1: you know, the age to play has gone to you know,

886
00:44:34,000 --> 00:44:35,920
Speaker 1: through the roof. It's it's it's at ten times what

887
00:44:36,040 --> 00:44:38,560
Speaker 1: it was during the regular season. Just keeping up with

888
00:44:38,640 --> 00:44:41,080
Speaker 1: the guys now now to the level that's like me,

889
00:44:41,440 --> 00:44:43,120
Speaker 1: I need to get back out there. It's it's a

890
00:44:43,200 --> 00:44:45,440
Speaker 1: need at this point. I just at wance, so you know,

891
00:44:45,520 --> 00:44:47,959
Speaker 1: I missed it in and I can't wait to play

892
00:44:48,000 --> 00:44:52,320
Speaker 1: some All right, Well that was that was fantastic. H

893
00:44:52,560 --> 00:44:56,080
Speaker 1: Spencer Solo. Thank you both so much for taking the time.

894
00:44:56,320 --> 00:45:00,840
Speaker 1: Fascinating project, and uh appreciate you coming out outline. Thank you,

895
00:45:01,280 --> 00:45:16,400
Speaker 1: thank you appreciate it. Thanks so much, guys, Trazy, that

896
00:45:16,520 --> 00:45:19,600
Speaker 1: was a really fun episode. I feel like that's actually

897
00:45:19,680 --> 00:45:25,200
Speaker 1: like a whole different dimension of the crypto conversation that

898
00:45:25,280 --> 00:45:28,839
Speaker 1: I think is actually really important and kind of totally unexplored,

899
00:45:28,880 --> 00:45:32,239
Speaker 1: totally something we've under explored. I guess the thing that

900
00:45:32,280 --> 00:45:34,600
Speaker 1: stood out to me was just how much, um the

901
00:45:34,719 --> 00:45:38,120
Speaker 1: fields of sports have sort of changed in this idea

902
00:45:38,200 --> 00:45:41,600
Speaker 1: that athletes need to be content producers, or if they

903
00:45:41,640 --> 00:45:45,240
Speaker 1: can be content producers, then they have potentially another stream

904
00:45:45,280 --> 00:45:47,480
Speaker 1: that they can monetize. I guess. I guess to some

905
00:45:47,600 --> 00:45:50,080
Speaker 1: extent that was always the case in professional sports. People

906
00:45:50,120 --> 00:45:52,920
Speaker 1: would always have some sort of sponsor sponsorship deal on

907
00:45:53,040 --> 00:45:56,000
Speaker 1: the side. But it just feels like we're in a

908
00:45:56,080 --> 00:46:00,239
Speaker 1: whole new at a whole new level in many respects. Yeah,

909
00:46:00,280 --> 00:46:02,480
Speaker 1: I guess what I mean by like, I mean I

910
00:46:02,719 --> 00:46:05,800
Speaker 1: I completely agree with you. The way to contextualize that

911
00:46:06,200 --> 00:46:09,200
Speaker 1: is probably more within the realm of new ways that

912
00:46:09,920 --> 00:46:13,239
Speaker 1: celebrities and athletes are monetizing their famed in crypto. I

913
00:46:13,320 --> 00:46:15,320
Speaker 1: guess like what I was thinking is like when I

914
00:46:15,440 --> 00:46:18,680
Speaker 1: think about like crypto, I think about like these hardcore

915
00:46:19,480 --> 00:46:22,920
Speaker 1: sort of like distributed tech systems that are designed to

916
00:46:23,000 --> 00:46:26,399
Speaker 1: be censorship resistant and designed to be you know, sort

917
00:46:26,440 --> 00:46:30,239
Speaker 1: of like powerful computer science ideas. But the idea that

918
00:46:30,400 --> 00:46:34,279
Speaker 1: like another application is it's just fun to like buy

919
00:46:34,440 --> 00:46:38,000
Speaker 1: a token that's sort of related to um A A

920
00:46:39,640 --> 00:46:43,239
Speaker 1: a celebrity, like is actually like a pretty huge use

921
00:46:43,320 --> 00:46:45,600
Speaker 1: case for all this stuff that probably doesn't get talked

922
00:46:45,600 --> 00:46:50,360
Speaker 1: about enough in that context. Yeah, and actually people like

923
00:46:50,600 --> 00:46:53,040
Speaker 1: to talk about tokenization while we just did. Those people

924
00:46:53,080 --> 00:46:55,960
Speaker 1: talk about tokenization as this brand new thing all the time.

925
00:46:56,080 --> 00:46:59,240
Speaker 1: But actually, like I don't know, I guess baseball cards

926
00:46:59,280 --> 00:47:02,239
Speaker 1: were the original tokens, or maybe at least a d

927
00:47:02,440 --> 00:47:04,879
Speaker 1: R s were the original tokens for stocks, Like there

928
00:47:04,920 --> 00:47:09,040
Speaker 1: are examples of tokens out there that have been successfully

929
00:47:09,080 --> 00:47:12,680
Speaker 1: deployed and they weren't like an earth shattering financial systems

930
00:47:12,760 --> 00:47:18,000
Speaker 1: threatening thing. It is funny, like I guess because I'm like,

931
00:47:18,239 --> 00:47:20,360
Speaker 1: you know, old, and like it's hard for me to

932
00:47:20,440 --> 00:47:22,480
Speaker 1: like wrap my head around like n f t s,

933
00:47:23,000 --> 00:47:25,600
Speaker 1: but like what is the difference? Roy between an n

934
00:47:25,680 --> 00:47:27,960
Speaker 1: f T and of like a basketball card, Like it's

935
00:47:28,000 --> 00:47:30,000
Speaker 1: really not the different, Like it's like when I was young,

936
00:47:30,080 --> 00:47:32,360
Speaker 1: Like I could understand basketball cards or baseball cars, but

937
00:47:32,600 --> 00:47:35,560
Speaker 1: this is a piece of cardboard. Yeah. The other thing

938
00:47:35,600 --> 00:47:37,560
Speaker 1: I liked about that conversation that it was actually the

939
00:47:37,640 --> 00:47:41,759
Speaker 1: discussion of applying the technology to a specific use case,

940
00:47:41,800 --> 00:47:44,520
Speaker 1: because I feel like we don't hear enough about that.

941
00:47:44,719 --> 00:47:47,400
Speaker 1: So this idea that you know, they couldn't do Bitcoin

942
00:47:47,520 --> 00:47:49,799
Speaker 1: for obvious reasons. They looked at ethereum, but they were

943
00:47:49,840 --> 00:47:52,440
Speaker 1: worried about the costs the system getting clogged up, and

944
00:47:52,480 --> 00:47:56,239
Speaker 1: so they settled on an alternate technology. I think it

945
00:47:56,360 --> 00:47:59,680
Speaker 1: speaks to probably that point that you made in your

946
00:47:59,760 --> 00:48:02,920
Speaker 1: gigantic five thousand word posts about this idea that you

947
00:48:02,960 --> 00:48:06,799
Speaker 1: can't look at crypto as a monolith because different technologies,

948
00:48:06,840 --> 00:48:11,680
Speaker 1: different cryptocurrency slash tokens, have different use cases. Yeah, it

949
00:48:11,840 --> 00:48:15,240
Speaker 1: is interesting to like I remember the crypto kitties phenomenon

950
00:48:15,320 --> 00:48:18,520
Speaker 1: in and that just like brought the entire network to

951
00:48:18,680 --> 00:48:21,040
Speaker 1: a halt. And so you do see like this use

952
00:48:21,160 --> 00:48:23,040
Speaker 1: is like, well, let's just use a different chain that's

953
00:48:23,080 --> 00:48:27,759
Speaker 1: maybe more optimized for some other use case. So I

954
00:48:27,800 --> 00:48:29,800
Speaker 1: don't be fascinating to see where it goes. And I

955
00:48:29,880 --> 00:48:32,759
Speaker 1: feel like especially seems to have a particularly like, really

956
00:48:32,800 --> 00:48:35,440
Speaker 1: good intuition about where this is all going, and he

957
00:48:35,600 --> 00:48:38,279
Speaker 1: sort of demonstrated that over the last several years. Well,

958
00:48:38,320 --> 00:48:42,360
Speaker 1: he's definitely a perfectly placed for that effluence of I

959
00:48:42,520 --> 00:48:44,480
Speaker 1: like that on that one point, we have something in

960
00:48:44,560 --> 00:48:46,440
Speaker 1: common with him, which is we do not want to

961
00:48:46,480 --> 00:48:50,520
Speaker 1: give financial advice to our friends and family. Yes, I

962
00:48:50,600 --> 00:48:53,120
Speaker 1: think that's the only thing we have in common. Probably,

963
00:48:53,680 --> 00:48:57,040
Speaker 1: all right, Um, shall we leave it there. Let's leave

964
00:48:57,040 --> 00:49:00,720
Speaker 1: it there. This has been another episode of the podcast.

965
00:49:00,840 --> 00:49:03,359
Speaker 1: I'm Tracy Alloway. You can follow me on Twitter at

966
00:49:03,400 --> 00:49:06,880
Speaker 1: Tracy Alloway and I'm Jill wi Isn't Though. You can

967
00:49:06,920 --> 00:49:10,360
Speaker 1: follow me on Twitter at the Stalwart. Follow our guests

968
00:49:10,400 --> 00:49:14,400
Speaker 1: on Twitter. Spencer din Witty, He's at as din Witty Underscore,

969
00:49:15,880 --> 00:49:20,160
Speaker 1: as well as Solos He's at Solo Sees, and follow

970
00:49:20,239 --> 00:49:23,960
Speaker 1: our producer on Twitter, Laura Carlson, She's at Laura M. Carlson.

971
00:49:24,239 --> 00:49:28,120
Speaker 1: Followed the Bloomberg head of podcast, Francesco Levi at Francesco Today,

972
00:49:28,600 --> 00:49:31,479
Speaker 1: and check out all of our podcasts at Bloomberg. Onto

973
00:49:31,520 --> 00:50:00,360
Speaker 1: the handle at podcasts. Thanks for listening, O