Web 3.0 is here. As a coach, do you think it doesn’t apply to you? Well think again!
One of the newest trends to leverage your business growth is NFTs. But what is it exactly? In this episode we’ll discover what the “learn to earn” model is, and how you can grow your coaching business with NFTs.
Ben Slater and Jayden Gardner are co-founders of NOME – an NFT inventors community. They educate people with the principles, strategies, tools, and tactics to trade NFTs with confidence.
Although often mistaken as only being digital artworks, NFTs, (non-fungible tokens) are a digital asset used to represent a variety of things. This includes photographs, game characters, music, collectibles, courses, access to coaching programs and so much more.
If you’re interested in the possible opportunities that are arising in the NFT space, be sure to listen to the episode.
IN THIS EPISODE YOU’LL DISCOVER:
- The reality behind trading NFTs (02:00)
- Ben’s journey towards discovering NFTs (04:55)
- What exactly is an NFT, and what makes it distinct? (11:30)
- The trade-off between primary and secondary sales (20:49)
- How coaches can leverage NFTs to grown the value in their business (25:15)
- OpenSea and how it’s utilised for NFTs (28:00)
- The cost of opening a Web3.0 website (33:30)
- Why Learn to Earn is the next big thing in blockchain systems (37:06)
- An interesting trivia about what can be bought with NFTs (42:49)
- “We believe that a blockchain-backed system of education and ‘earn-to-learn’ dynamics will be the greatest revolution, potentially, that the world’s ever seen.” -Ben Slater
- “The really cool thing about what NFT’s are is the utility and the access, which by owning this part of digital assets gives you further access to other areas.” – Jayden Gardner
- “Any one of us can learn something. But the transformation comes when we actually do with something with that learning.” -Samantha Riley
- Website: OpenSea
- Podcast Episode: The Joe Rogan Experience – #1840 – Marc Andreessen
WHERE TO FIND BEN SLATER & JAYDEN GARDNER
- Website: https://nome.xyz/
- Ben’s Twitter: https://twitter.com/benslatereth
- Jayden’s Twitter: https://twitter.com/jaydengardner_
This episode is sponsored by Your Podcast Concierge. Affordable podcast production for coaches and speakers who want to increase their authority and generate leads from their show. You press record, and let them do the rest.
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ABOUT BEN SLATER & JAYDEN GARDNER
Ben Slater is the Founder and Creator of NOME. He has spent the last 10 years building online businesses. First in the health and fitness space at 20 years old with his brother. He has since gone on to start 4 other businesses – 3 of surpassing 7 figures in Yearly Revenue. His major business over the Past 5 years was ‘Systems for Business,’ a business coaching company that he founded in 2016.
Jayden and Ben have known each other for 10 years now.
Jayden Gardner was a client of Ben’s first health and fitness business, and they have remained close friends since. Jayden has worked in many Australian Start up businesses as a head of performance marketing at Eucalyptus. More than anything Jayden is our connector and manifestor.
Jayden Gardner Snippet (00:00):
The really cool thing about what NFT’s are is the utility and the access, which by owning this part of digital assets gives you further access to other areas.
Ben Slater Snippet (00:13):
We believe that a blockchain-backed system of education and earn-to-learn dynamics will be the greatest revolution, potentially that the world’s ever seen.
Samantha Riley Intro (00:27):
My name is Samantha Riley, and this is the podcast for experts who want to be the unapologetic leader in their industry. We’re going to share the latest business growth, marketing, and leadership strategies, as well discuss how you can use your human design to create success in business and life. Inside and out. It’s time to take your influence, income, and impact to the level you know you’re capable of. Are you ready to make a bigger difference and scale up? This is the Influence By Design podcast.
Welcome to today’s episode of Influence By Design, I’m your host, Samantha Riley. And today I’m joined by not just one guest, but two guests. So I’m putting myself right out there, we’re gonna have lots and lots of fun. I’ve invited Ben Slater and Jayden Gardner to join me, and we’re going to talk about a topic that I have not covered on this episode, a topic that I know nothing about.
But I know without a doubt that this is some up-and-coming information that as coaches and consultants that we all need to know about, and that is NFTs. Today, we are going down the NFT rabbit hole, and how you can use it to grow your business which I only found out recently I thought NFTs were little JPEGs that people created, you know, 14-year-old and on their, on their computer in their room, but apparently no, that’s not the case. So Ben and Jayden, welcome to the show. It’s great to have you join me today.
Jayden and Ben (01:52):
Thanks for having us. Yes.
Ah, okay. Before we even start, actually, I actually want to start with this because I saw this on your website, in the last six months, NF T’s have done a trading volume of $22.6 billion. And this isn’t just 20-year-old bro marketers, is it?
Not at all, it’s actually up a little bit. From that, I would guess it’s probably more like 26 billion at this point in the last six, or seven months. In fact, a lot of the big volume is coming from a few areas. So there’s a big VC company that built a lot of the tech infrastructure is called A 16. Z. And actually a good resource for people interested.
The guy who runs that business name is Marc Andreessen. He did an episode on Rogen yesterday on Joe Rogan’s podcast yesterday. And he does talk about web three. And the question that he gets asked by Joe is, what are the emerging things in tech? So he built literally the first web browser? This guy, you guys, what are the emerging things in tech? And he goes, Well, first thing is AI. That’s very, very complex. And in the future, is that what’s actually happening right now, crypto and web three.
They’re the VC into the web three, architecture, and the businesses that are essentially being built. So there’s that layout of VCs and tech people all building it, then you’ve got the investors, which from my view, are mostly business owners. Now the things that we often hear about in the news are 18 year old in his, in his basement, who traded a border board, he got a gold one sort of a 3 million like we hear about that stuff.
But the reality is, it’s a very, very small sliver of the overall market. And I would say the average market participant is in their 30s and 40s. Because at the end of the day, and I think people miss this with NFTs, it is investing. And this is a new investment vehicle. There’s a financial service that people are getting involved in, and I think they’re the people that tend to do the best in
what really pricked my ears up about this space is I’ve been hearing about NF T’s for over a year. You know, few years, I had thought they were just trading images. What really pricked my ears up in the last couple of months is that we can use it as coaches and consultants in our actual business with our clients. And then I was like, ah, hey, hang on a minute. I’ve missed something really big here. There’s a big gap in my knowledge here. So before we dive into that, I really want to make this super, you know, broken down for people that don’t know what NFT’s are. What is an NFT? What is it actually, what is it? Let’s start there.
For sure. Well, look at Could I start a little bit with my story and it’s like, give you a bit of my NF T’s? Because yeah, from my and I’ll get to the what is an NFT. But my background is the same as basically everyone listening to this podcast.
So over the last 10 years, I started a business when I was really young with my brother when I was about 21 years old. It was a callisthenics business, if you know what that is, we were teaching, how to do outdoor weights training, Jayden was actually one of our first clients. So looping that back around, we’ve known each other for almost 10 years now. And yeah, so we just gung ho, you know, started this little health coaching business when we were 21. And we were able to build it quite successfully, to, you know, $100,000 a year pretty much at that point.
And ever since that moment, my both my brother and I have been in the coaching industry, we moved from health, to personal development, into business coaching. And really over the last 10 years, I’ve been primarily focused on business coaching. So my old business, I was called systems for business. We were doing about $250,000 a month, and had a bit of a crisis moment that happened in the business, I was spending a lot of money on Facebook advertising. I was travelling overseas at the time, and I woke up one day to the dreaded message. You’ve been banned from Facebook,
I knew what was coming out. Ouch.
Which I’m sure is a very common experience these days. And look, I just want to say that over the years of my time in online business, I noticed that there was a line that kept getting moved, and moved and moved. And it was harder to get ads approved, it was harder to get my message that I had. I don’t think it necessarily changed. In essence, I had this I was the same person.
In fact, I had more results. And I had more proof and evidence of what I was doing. And I had bigger business. And as I was growing my business, I just found that I kept butting up against these regulators. I don’t know if that’s the right word. But I, I found I kept butting up into this resistance. So I was in this dichotomy of, well, I want to share my message. But I’m getting blocked here. So I had a feeling this, this intuition that cryptocurrency may present the solution because, look, I went into a bit of a depression if I’m honest, because the last 10 years, I’d spent literally millions of dollars building this audience.
And I wasn’t just, oh, you can’t use this ad account. I was literally personally banned off Facebook. No, no person to talk to no representative, no reason to this day. And I was like, wait a minute, I’m a client here. And I’ve been crazy. It’s wild, like this bang, gone. Business income drops. And the key thing, the key breakthrough that I had, which is, I think very, very important when it comes to the coaching space. I had this thought, well, if I don’t own my own audience, do I really own my own business?
When I thought that I started to go, Well, what’s been the game that I’ve really been playing, because I would consider myself an entrepreneur, I want to create greater layers of freedom in my life, and I want to grow and I want to develop and I just thought, wow, something’s really, really changed here.
So that opened my door, let’s say to cryptocurrency and I was in the right place at the right time. And I just jumped in with two feet. And I think the good thing that I did was the study, study, study study. I just felt like because I had a problem, and I think this is an important thing with crypto and NF T’s is because people don’t usually assign a problem to it. Right like we’re usually much more inspired when we have something pushing us up against the wall of it. So I had that I had that like pain. And I started to invest in cryptocurrency. It just kept going and kept going and not really too successful or doing anything too great.
But the person that I was following, I was following a guy his name is JR. And why crypto on YouTube at that time. And he started to invest in NFTs and the cool thing about NFTs and I’ll get to what they are exactly the moment but the cool thing about NF T’s is it’s very, very transparent so you can see everything in real-time.
So if someone buys something, you can see it directly what they bought it for When they bought it, what they sold it for, and you can sort of reverse engineer their whole strategy. So I was just watching people trade, he made a $45,000 investment into something called the board, APE Yacht Club. And today that investment is well over $150 million.
And I was just watching it does grow and grow and grow and grow and grow. And at a point, in the second or third month, I just went, bang, like, I’m into this bang. And I didn’t really even know the deeper layers of it in the beginning.
But personally, I did the same thing. I had $50,000 in crypto, I invested it. And I got a little bit lucky. In my first month, I did a million dollars in profit, literally in the first pure pure profit. And that was in August of last year, ever since I’ve been like gung ho trading and going deep and launching GNOME, the project and all that stuff. But, you know, perhaps that gives people a bit of insight into my journey with it. And I guess where it comes from?
I think that’s super helpful, because obviously, there are a lot of us in the same boat. I personally Oh, my God, I actually I don’t even I’m not going to say what I was about to say. But I’m sure we all knew where that was going. But you know, we, we could be potentially in that position any one of us. So I think it’s really helpful to know that you were in the coaching space, then that’s what you were doing. Jaden, I would love you to share off the back of that, what is an NFT.
Yeah, so if you look at it by its description, it’s a non-fungible token. That’s what NFT stands for. But really, the way that we look at it is it’s a digital asset, which is on chain through different crypto currencies like Etherium, which gives you the ownership of what you purchase. And kind of how this works in like the coaching business. And how myself and Ben have been working with it with Nome is by somebody coming on and buying an NF T which gives access to know, that gives them the complete ownership to have our content and the community and the discord and stuff which is forever owned by the person till they resell it.
So in terms of what is an NF T, like you said it could be this JPEG of an image, which really only has value based on what the market sees. But the really cool thing about what NFT’s are is the utility and the tokenomics. And the access, which by owning this part of digital assets, gives you further access to other areas.
So, essentially, we’re able to sell like a golden ticket like Charlie did for the Chocolate Factory, we’re able to sell a golden ticket to someone that wants to be our client. And that gives them access to whatever we would normally have in our program or our membership. So they would have access to our course content, our community, and whatever different parts of the membership holds. Have I got that right?
Yeah, yeah, that’s a really big emerging use case for NF T’s is membership tokens. And my personal belief is that in 10 to 15 years, the norm for coaching business will be NFTs. And I think I want to mention something as well, because this has been quite helpful for me. And I also use this with the clients.
And I’ve read this anecdote, a few weeks ago, and when I read it was like Ha, this is interesting. So Isaac Newton created the laws of gravity, essentially, like you figured out how gravity worked and took him years and years and years and years. And he had a lot of different relationships with he lived in the university. So he had a lot of different conversations. And he had a really powerful conversation one day, because he was just blocked, like he couldn’t figure it out, because he was trying to understand what gravity was. And he just wasn’t making any progress.
And one of his friends said to him, why don’t you stop trying to figure out what it is? And why don’t you start trying to figure out how it behaves. Within a few weeks, he had figured out the laws of gravity. And to this day, we still don’t know what gravity is. But we know how it behaves. I think this is critical, critical for coaches and consultants and people wanting to get into web three, because we’re not technical people. We’re not the people that are going to be writing the code and the smart contracts and the things.
But we are the creative layer of utilization, like where we’re getting these things out into the world, and we’re going to be sharing them and things like that. But I think that’s an important breakthrough because We don’t need to understand the code. But say, but I always say to people look in 10 years time, this is the norm. I believe 80 80% of transactions on the internet are going to be blockchain-based. That’s my personal belief.
So at least understanding how these things behave, it’s like getting ahead of social media, in a sense, like, it’s like, okay, social media is going to be a thing. But we have this on-ramp because it’s so technical, we have this on-ramp of innovation. And we’re right there at the early adopter phase. And for the people that are educating themselves now, I think, in 10 years, those that business advantage that you can have, I think, is just going to be astronomical, like exponential curve sort of stuff. So that’s what I’ve been really trying to encourage people to do is this, like, learn as much as you can now and really position yourself for the future?
I love that you said that, because that is why we’re having this conversation now. Because I just think that so many people haven’t seen or, you know, haven’t even realized that this is a thing that they haven’t even put two and two together. And when I started to look, I’ve only peered into the rabbit hole, I haven’t even gotten into the role. And I just went Oh, wow. Like we need to know this now. Because if I had have been on Facebook, ads, on like day one of Facebook ads, I’d be in a very different position to where I’m in now in my business. And I feel like this is exactly the same thing. But bigger.
Oh, yeah, it’s a big innovation. And to answer your question around what is an NF t, in terms of coaches, and consultants, I think this is a good lens, it is a token that can sign assign asset value to an intangible asset. So that’s the breakthrough. So if we think about this, the token is assigning an asset value to intellectual property.
And I think in terms of business, that’s the shift that I see. Because in my career, the most valuable things that I have experienced are moments with mentors, breakthroughs, you know, I’ll be sitting with a business problem like, oh, shit, like, what’s the answer? Like, what is it and all of a sudden, I’ll open a book and there will be the answer, and I’ll go, bang, and then, you know,
I’ll be up to that next level, and I’ll be moving forwards. And I’m sure many of your clients, this is what they are helping their people with their clients with these sorts of things. And NFT’s allow a more efficient, more effective way of transacting that value and holding that value in the open marketplace. It’s not based on opinion anymore, because you can see it, it’s directly there.
So there’s a hidden piece within this whole NFT journey. I believe it’s going to shift the consciousness of the planet, because we are assigning a more efficient value to intellectual property, which I would say is the true value of a business is the intellectual property that sits in that. So I’m super excited for that. Because it’s like, wow, okay, what’s gonna happen here, when we have this really efficient peg, and we start valuing ideas, like really valuing ideas like that, to me is like, Okay, now we’re really starting to play as, as business people.
Think one thing I want to add in there, they’re kind of mirrors what is an NF T is to kind of educate your audience on web three, because some, you know, a lot of your audience may have never been on a web three websites, and what were the three, the interface of the website that connects it to blockchain technology. So for example, our website known but XYZ is web three. So if you were able to go on there, you could see in the top right hand, right-hand corner, it says Connect wallet. And then that’s what creates the kind of synergy between web two and web three, which allows you to do stuff on the site and have access based on what your digital wallet is. And when Ben talks about, you know, the future of you know, all these different businesses, that’s where we say in terms of like shopping or this kind of stuff, instead of it being you know, enter your credit card details, all this kind of stuff, it will connect wallet, there’s your money, do the purchase. And yeah, so I think just trying to like to understand that there. There is web three internet sites and web two and that’s kind of what mirrors with NF t. So being able to merge.
Awesome. That’s so helpful.
I think one thing that we spoke about with coaches, which I’ve resonated with on the first call, we had Sam was like, if you look at a coach and their value ladder and you’ve you know, you’ve got different programs or different access, I really see at least in the coaching community where if you were to bring out, you know, this amazing top tier thing that gives you all the bells and whistles and retreats and whatnot, instead of you having a go old school landing page upsell, all this kind of stuff. And this is what we’ll be doing in Nome, as well by being able to create that NFT asset to be like, Hey, John, if you want in, just go buy that, and it’s on chain, and you get all the access there. So that’s where we say, really exciting is like the kind of purchasing decisions. Yeah, you can have for your own business and for your clients as well.
All right, now I’m gonna ask them questions that might make me sound a little bit silly. But I know that I’m not the only person that has these questions. You mentioned that you are able to purchase an NFT, that gives you access to a course. And then that person if they no longer want access is able to sell it. Am I correct? So far? As a business owner, why would I want to do that when I could just sell it to the next person? Does this mean that I as the business owner, will miss a part of the pie?
Yes, there is a trade-off there happening with primary and secondary sales. Though, the interesting thing is, that the value proposition is changing a little bit, because you have different forms of market that are created when you have an NFT.
And I’m sure your clients have probably seen this before, when you’re selling something that has a direct like an investment opportunity, as opposed to a product that may be a little bit easier to sell, there’s more volume. So what you can do, Sam is you can set the secondary sales percentage, and you actually take a clip of that secondary sales percentage. And what we’re seeing which is really unique, is you’ve got, let’s say 60, or 50%, of your core community that are there, and they’re staying and you’re adding extra value to them.
And it’s your driving value that way. But then you’ve got the secondary sales, that are people turning over those tokens as investment opportunities. And what we’re seeing is that secondary sales percentage is greater. For any project that does well, that secondary sales percentage is actually greater than the primary. So let’s say for example, let’s say that you have a $5,000 course that you sell, right, you sell that you go to 1000 of them, you go, okay, bang, I’m going to sell those 1000, tickets, bang, what we’re seeing is exponentially more than 1000. Sales are happening on the secondary, of people buying and selling those tokens and people coming into the room, and then coming out of the room or coming into the room and coming out of the room, which is a really interesting, dynamic.
So on the financial side, we’re seeing more income being created. But the second thing, Sam as well, is with the business model, there’s a way that you can accrue value by adding extra things. So there’s a thing in NF TS called an airdrop, or you would call it future utility, right? So let’s say for example, that you create a membership pass, and then you say, Okay, I’m going to do an event. And I’m going to have all my clients come in for the event. But we only have 200 spots.
So we’re going to do a raffle, there’s going to be 200 spots, and we’re just going to gift it to the community. These sorts of things. Really interestingly, once you understand the dynamics of liquidity and things that are happening in the market, that injects cash flow into the business, because it drives the secondary sales, and you’re taking a clip of that, and then the market finds the efficient level of it. And you’ve also added value to your community by giving them free value which they inject back in.
So it’s a different model, if that makes sense. It’s not all about that, like the way to maximize the lifetime value is more about giving as much value to those people as possible. And then they can choose to buy and sell and creating a healthy ecosystem where people can open the door close the door and yeah, it speeds up the process. Does that make sense? That makes sense. I know it’s okay.
Yes. Yes. No, it is make isn’t making sense to me. And if you’re listening and it doesn’t make sense to you. Don’t worry. We’ve got you. We’re not going to leave you hanging at the end of this episode. All right, so let’s just say for instance, I want to start a new, a new course, let’s just say I want to start how to start a podcast course. And I want to build a community around that of brand-new podcasters. Take me through right from the beginning, how I would do this, because I’m guessing I don’t just make a ticket in Canva. And just go Who wants this?
So the interesting thing is, it’s very similar to what people would already be doing. Like it’s very, very similar, the content creation, the even to some degree, the marketing, and the sales, really, the one shift is the point of transaction. That’s the one shift. And even for these sorts of things, because it’s very, very early. Even for us, for example, we still do a lot of normal web two transaction, in fact, the bulk of our transactions are normal web two transactions, and then we send people the token later on.
So a nice way to on ramp into the web three, is not to go, like full-blown, like, okay, bang, you know, we’re gonna build this huge website and like, invest into developers and all of that stuff. It’s actually really cheap, and really easy to start by just creating a token on like, open C, and then gifting that to your members, and then just starting it as more of an experiment, but you still sell it as a course maybe with that added extra pace.
And, look, I think a really good thing to do as well is to get into some of these communities to like, I’m sure in the coaching industry, this was my experience. We had our first coaches, and we had such a disc crazy growth experience that my brother and I would just turn around, looked at each other and go, I really want to give that back to others. Like I want to pass the torch here, you know, these people helped me so much we’ve grown Can we do that? And that’s how we really levelled up, and I see that so often in the coaching space. So I think finding a community in the web three space that you vibe with and experientially getting into it, I think is an important step first before you do the creative, just so you’re gonna have that real grounding and inexperience, if that makes sense.
Yeah. So what you’re saying is that right now, because we’re very early in what’s happening in this space, that we can still bring people in the normal way. You. You’re saying web to people put in a credit card they are purchasing, but then we’re giving them as an added bonus, sort of after they’ve been with you for a while this NFT. Now, You mentioned Ben, you just mentioned open sea Jade, and I’d love you to share what is open C, what’s Ben talking about.
So OpenCL is basically the biggest trading platform that NF T’s are using right now. So Ben might know the exact numbers but I would say the majority of the market uses open C at the moment to buy and trade NF T’s there are different websites out there at the moment, especially when you go into more niche art kind of stuff. But if you’re looking at like the mecca of platforms at the moment, open c would be where the majority of people go to. So that’s where you can find all the NF T’s you can trade, you can see what’s trending.
And that’s kind of where our tokens are at the moment. And like you said, like where coaches could put their tokens. One thing that I want to say before, when you talked about like, oh, we couldn’t just go on Canva and do an NFT. I think this is what’s really important to understand about utility of NF T’s. Like if your offer of what somebody gets is so amazing that you could literally have that ugliest looking thing and people still buy it. That’s why utility and token omics is so important. Because you’re looking at two different platforms. If you’re looking at work or something, yes, you want something really like amazing, unique, and rare.
But because you are really just selling this kind of access. It doesn’t have to be anything groundbreaking in like our NFT. It’s quite nice. It’s our logo in a spinning kind of 3d model, but they’re all the same, because everyone believes that the value of the token is based on the community and the scarcity and how that kind of rate rises rather than does this one look better than Sam’s line? And Will someone pay more for that unknown type and then the other one, it’s all based off the utility behind
Cool, so what I’m hearing is that there are some NFTs that are pieces of art that people are selling But we can also sell, I guess, access to our system rip. Have I got that right? Yeah, exactly. Cool. You. So the point, I don’t think you’ve been caught on a platform, I can see whatever the word you use there for what it is, I’m assuming we need to register our token on this platform.
Yeah, it’s a nice easy way to start. It was very, very cheap. And you know, nice and easy. A lot of projects really start with that. And look, this is a bit of a research, really good to go on to open see and start. You know, when I first went on, now I was done, my jaw was on the floor, I was just like, Oh, my God, we’re seeing sales in the multi-millions of dollars the site for phone from and my first thought was, where the hell is this money coming from, like, what is going on here, I could not believe it. So it is an interesting place to be.
And fascinatingly, like, web three, a lot of very empowered people right now are working in web three. And it’s not even six degrees of separation, it’s one degree of separation, because there’s a culture, there’s a real culture around it of this. Look, it is a bit like the Wild Wild West, I will, I will say, that side of it, like everyone’s just shooting from the hip a little bit, that’s a little bit wild and crazy. But there is this culture, because it is so wild and crazy. There is this culture of people protecting each other. And you’re in conversations with people that are incredibly wealthy and have amazing stories and, you know, building really, really important things, and you can just reach out to them and chat to them.
And I’ve never experienced that, like, it’s so different from the typical business space where people like, oh, I want to keep my, my, my pot here. And I don’t want to expose it. And I don’t want to open it up. But with web three, because everyone owns a piece and everyone owns the voice. Everyone is the more everyone is sharing the essentially, the more everyone’s winning. So the culture is like, really, really profound. And again, you start to experience that by it’s all on Twitter, actually. We it strangely, Twitter was the one business that allowed cryptocurrency conversations to take place. Yeah. So early on, in the early of the past decade, in 2011 2012, as people were getting into Bitcoin, and everything that came with that, they allowed those conversations to take place. So Twitter has actually been the natural home of they call it NFT, Twitter, and crypto Twitter.
So getting into that, and actually starting to view that, and seeing the conversations that are taking place is also really fascinating. So in terms of the best platforms, it’s open, see for sure for NFTs and also Twitter, if you haven’t set that up get on that and start to check out what people are talking about.
Okay, so you’re talking about, try having a web three website to be able to have people to link their wallet, and you’re talking about web two websites, so that people can still enter their credit card to different platforms, is the cost of setting up your web 3.0 website, akin to I had my first eCommerce site back in like, early, the early 2000s. And it cost me 20 grand, and it was the most revolting-looking website. You know, when with those little spinny things and like little things coming in and out. It was dreadful, and it cost me so much money. Is it this sort of cost to get into it? Now, because it’s so new? Are they very cost-prohibitive right now?
Yeah, look to go the whole hog and to have the interface and all of those things right now. It is expensive. And I don’t recommend doing what we’ve done with Noam, because it just is a little bit prohibitive like to talk about what I said earlier around having web two and then bringing in little pieces of web three. I think that’s a really good frame.
Because that’s really where we’re at right now. You know, there’s just web two is still the thing, right? And we’re just plugging in, we’re slowly ramping to web three. But I did want to talk about something that I think is important for everyone on the call and everyone listening because I do see that we have somewhat of responsibility and this will probably give you some insight into the vision and the mission. Have no and what rare here to do, and a little bit more of my story, LinkedIn. But there’s a big conversation that I’m sure people have heard, if you’ve been in the web three, or even approached that, if you look in that rabbit hole, you’ll hear people screaming back out of the rabbit hole, play, to earn play, to earn play to earn. So this, this is an industry and many people believe in the web three industry, that play to earn gaming is going to be the biggest industry in the world in 10 years.
So to give everyone some context for what this will look like, and what this is, you’re playing a game. So let’s say you’re playing a PlayStation game or something like that. And instead of just playing on an online server, and you’re just growing, and it’s purely entertainment, it’ll be linking in with the blockchain, linking in with NF T’s so that you actually own the character that you’re playing in the game. And if you’re levelling up that character and betting the bad guy, or whatever is happening, or you know, this thing
Slaying the dragon.
Yes, 100%, you will be accruing value that you can sell. Now, this is transcendent, because it is linking to industries that have previously been disconnected with financial incentives, now being linked efficiently and effectively to entertaining gameplay, which is really fascinating when you start to go, oh, wow, what’s work going to look like? And these sort of things. And now this is already happening. So there’s Axie infinity, which is a game. And many, many hundreds of 1000s of people in the Philippines are playing these games in the earn more money than they would usually earn.
So that’s, that’s quite interesting. Now, here’s the challenge that I would put towards people around the playground. I’m really bullish on the playground, I love the play to earn I love that conversation. But here’s where I disagree. People believe that the biggest industry that’s going to come out of crypto and web three is played earn, I don’t believe that. I believe it’s going to be learn to earn.
And here’s why. Firstly, it’s more meaningful. But secondly, if you just think about, Okay, how much money have I invested in my life up until this point into gaming, and could say entertainment, but let’s say gaming, it would be a very small percentage of what most average people in less in the western world today spend on their education.
And Jayden and I have been screaming about this for close to 12 months now, we’ve been talking about this. And I think we’re the only ones that were just talking and talking and talking about this. Because we really believe this. We believe that a blockchain-backed system of education and earn-to-learn dynamics will be the greatest revolution, potentially, that the world’s ever seen.
Because we’re now assigning an asset value to the growth and development of human consciousness that’s not tech secondary. So my big breakthrough around this was okay, I’ve sold business coaching programs, and I’ve sold these things before. And we can deliver awesome results to people. But the value that people get from those materials is always secondary or tertiary because they have to go and action those things.
They have to go and do a bunch of stuff, and they get value. So that’s one way of getting value, which is excellent. But what happens with this new earn-to-learn or learn-to-earn system is you’re accruing value, whether you take action are not by the thing. And if the thing is of value, and the materials are good. You’re earning while you learn. So there’s a financial incentive
To loop this back in our vision here at GNOME, and to give you some insight into a gnome, the name, and why we chose this. So in Ancient Egypt, their whole culture was based around the Nile. So you had the Upper Nile, which is actually down the bottom, and then you had the lower now which is at the top. They had a metaphor that they used to use in their mythology, which was called a gnome. And a gnome was like a district moving up the Nile. And the metaphor was as you grow and develop in consciousness, you rise through the gnomes of life. So their culture was based around that. So to pull this back around our mission and our vision at Nome is to build the Learn to earn architecture so that we can bring down the price so that we can we’ve invested up into this point Well over $500,000 to build everything that we’ve built so far. And our goal is to white label it and be able to build it. So we can give it back to coaches and consultants for literally pennies on the dollar.
Because we just believe in it, we believe that the true value that we can experience as human beings is the growth and development of consciousness. And if we can bring the technology so that people don’t need to do the smart contracts, and know the technical that we can build out-of-the-box solutions. That’s actually what we’re doing at the moment. And we’re also teaching people about it, as well. So it is a bit prohibitive, but we’re doing our best to try and bring it down. And I think we’re the only business that is currently doing that in the world. So it’s kind of exciting.
I want to support. Yeah, we want to support. And that’s why we’re so excited to be able to speak to your audience because it’s so aligned for us like it is, you know, that’s been the big thing for us. And, you know, just one final piece. When I was 20 years old, I was addicted to drugs. And I was in a deep state of suffering. I was psychotic. I was heavily medicated.
I had a mentor step into my wife when I was 20 years old. And he said, My I stepped in. He was 50 years old. He was the wealthiest person that I’ve ever met. He was the most successful person that I’d ever met. His name was Lachlan Cameron. He’s from Melbourne, in Australia. And by the good of his heart, he mentored me. Meeting him, my whole life changed, everything changed. I was off my medication, I was quitting my university degree with one subject left to go. I was off drugs, I was out of negative social circles. And that was the transformative moment of my life.
And when I look back on that, okay, what was the thing, and it was the wisdom. It was the wisdom that he gave me. And throughout the rest of my life, I’ve always believed since that moment, that the real value is, is this education is this piece. And that’s really what we’re here to share. That’s what we’re here to do. And maybe that connects with some people here listening. And yeah, we just really love the support and love you, you guys to get behind us if you can. And I think we can do something really special.
I love that story. And I just want to say that I don’t think it’s the education. You saying it’s the education, but it’s actually the transformation. And that’s what we’re talking here. And that’s why there is that consciousness piece in because any of us can learn something, but it’s what we actually do with that something. And that’s what you’re talking about here. So thank you so much for sharing that story. Now, Jayden, just before you were mentioning that, you know, we’ve talked about art, and we’ve talked about gaming, and we’ve talked about courses. But this is I think you were mentioning that the first house is sold via NFT. Is that right?
Yeah, I have thought it was probably about two weeks ago, at the time of this recording, the first house was outsold with a theory M is an NFT. I know a guy over in Mexico at the moment who’s bringing this together in his real estate business as well. Myself and Ben were mates with these guys who own a Spotify kind of platform where they’re paying out artists in real-time based on the blockchain rather than royalties, which never gets seen. So you look at Brands, you’ve got your Gucci, your Nike, Balenciaga, you’ve got your artists who are going from traditional gallery models to bring it into the NFT space, I saw that Coachella is going to be offering a lifetime NFT that gives you access.
I’m so events, music like you name it, you can tokenize it to be able to own that asset for that. And that has a value, which Yeah because a lot of people will go on and go like, I can just screenshot and use that. But you don’t own the actual property to that. It’s like taking a photo of the Mona Lisa and saying, I’ve got the Mona Lisa in my house, right? Like, everyone knows who owns all, whatever art or the house, mouse and go, here’s a photo, I own that now. Like it’s behind the technology, they have the contract, and they own the rights to that real-life object now through blockchain technology. Continue moving like every single industry is gonna get taken over by this, and I think it’s time to be like, in the forefront wherever you are in terms of your business.
Totally. And that’s why that’s why when you know, I put the call-out who knows about this topic and you guys reached out, and we had a conversation, and I was like, We need to talk about this now. Because in my business I talk about you know, be the unapologetic leader so that you can step into that place and be at the forefront of change. And this is the forefront of change. This is where it’s at. So we can either stick our head in the sand, which I guess I’ll be honest up until now I have because I didn’t understand it.
But it’s about No, this thing’s coming, whether I like it or not. So it’s either put my head in the sand, and it just goes past me, or pay attention and be right at, you know, I know we’re not right at the beginning, but we’re still in the early adopter phase. So you know, I’m, I appreciate that you’ve spent the time to start to unpack this huge rabbit hole of NFTs, for people that are listening, and they’re like me and saying, You know what, I still don’t get it, I need to learn more, I need to start learning about this. Where’s the best place for people to go?
Well, what we thought we could do for your audience, Sam, is we could come in and do a bit of a q&a for people. And let’s go a little bit deeper, and answer those questions. So look, we’re happy to jump into your Facebook group. And yeah, just be there as a bit of a resource to answer questions. And there it helps people to start thinking about this. Look, we’ve got multitudes of resources and things that we can dive into. But I think that would be a really good place to start to at least start engaging in that dialogue a little bit. So I think that’d be a good place.
Cool. So write down all of your questions. I look forward to seeing you in that q&a, where Ben and Jaden are going to help us to unpack this even further. Guys, it’s been an absolute pleasure to chat with you today. Thank you so much for coming, trying to unpack this, just so that you know as the listener when I jumped on with these guys, I said, normally, if we were writing copy, we all know we have to write copy so that it makes sense to a 12-year-old. I said to these guys, I need you to unpack NF TS as if you’re speaking to a 70-year-old, and I think they’ve done it. I think I understand. So hopefully you do too. Thanks, Ben. Thanks, Jayden. It’s been an absolute pleasure chatting with you.
Ben and Jayden (47:05):
Oh, thanks. Hey, thanks so much, Sam.
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