Transcripts
6. Creating An NFT: So thankfully, this is not a technical course because I'm definitely not qualified to teach that. But just like you don't need to know how your phone can connect to someone all the way on the other side of the world instantly. Or you don't need to know where your Instagram file is stored on Instagram servers. In order to use Instagram as an app, you don't need to know the technical side of how an NFT is created. What you do need to know is what a couple of complex sounding words actually meet. The first of these words is blockchain. And FTEs are created or minted on the blockchain, which we've touched on briefly, but we're gonna go just a little bit further together. The blockchain is the reason the decentralization of the Internet and LFTs a possible, the blockchain makes it possible to weed out the middleman and these gatekeepers and have the oddest and the creatives like you get paid what they deserve. But how so to skip all the complex stuff, the simplest way to explain this is to talk about torrenting. Have you ever used a torrent and download something? I hope not. I definitely haven't. And if you have shame on you, torrenting copyrighted files is illegal in most countries, but there's actually no way to stop it. This is because it acts very similarly to the block chain. When you download a file from a website such as Google images, you're downloading 100% of that image from Google. You could say that that file is centralized on Google service. But if you wanted to download that same image using a peer to peer Tarrant, it actually be downloading a fragment of the image from multiple different. And your computer would then reconstruct it once you had all the individual parts, the file is decentralized. And unlike if Google went down, you wouldn't be able to get the image. If one of these computers go down on the network or becomes corrupted, the network doesn't care, don't just use the computers that are in the network that are dependable to get that file transferred. The block chain operates in a very similar way. And FTEs are stored on a blockchain, which is a massive network of individual computers who all hold small parts of information that they can verify between one another. The blockchain can hold data like images, ownership, and tokens of those images and little bits of computer programming we touched on earlier called smart contracts. There is not just one block chain, but there are many Bitcoin theory in Danner. When you create your NFT, you can choose the appropriate block chain to mint your NFT artwork to. Minting is coding your NFT into the blockchain. You can code it all yourself, or you can just get an app to do it for you. Just think about how Squarespace works. You can go online and try and build your website from scratch using coding. Oh, and you could use one of the pre-installed themes to do all the heavy lifting for you. And all you need to do is put in your website or business or brand details. In the NFT world, all you need to do is upload your OT and let apps such as wearable, super rare, or nifty gateway do all the heavy lifting for you. Remember it without getting too complex and stuck in the weeds. That token is what is important here. When you meant your token to the block chain, you aren't necessarily embedding your artwork to it. But a record of who earned your artwork and what, if any, smart contracts are attached to it. For example, this is Gary IVs dinner DEA artwork. It's token is method to the theorem blockchain the token records who the owner is and that the owner gets three dinners with Gary Vee himself. They also get entry into his live event for the next three years. That token also has coded into it that Gary gets a 10 percent royalty anytime this is resold on a secondary market. A great example of how OT tokens and it's smart contracts are the ones being created and stored on the blockchain.
7. NFT Art Marketplaces: So where are NFT is bought and sold? So when online shopping became a thing, where would you buy a physical product such as a book? There are a whole range of websites from massive ones like Amazon to tiny little bookstores that just had a tiny online presence that you can login to the Internet and purchase that book from. The book existed independently from these websites. But these sites operated as marketplaces and even a way to discover that book before you buy it and have it sent out to your address. Just like these physical products and FFTs and digital artwork have many marketplaces that operate as a way to discover and potentially buy them. Marketplaces such as open see wearable, nifty gateway, and super early movers in this space. Even eBay has committed to selling FFTs and digital odd on its platform. It is essentially the same as normal artwork, but the oddest just delivered digitally. You've got mail, just like reselling this book that you bought online after you've read it. There's a massive secondary market for digital art. This is where the magic starts to kick in. You can resell the NFT odd that you've purchased to somebody else on one of these same marketplaces. And of course, your fans and your customers can re-sell your artwork on the secondary market place. This is where the smart contract of artist royalties starts to click in. Take a look at this project, for example, the oddest sold 415 copies of NFT OT at $40 each to his fans because of this low ticket price and the scarcity pieces, he only made $16 thousand selling his when he launched his project. But in the secondary market, where his fans then went on to resell his artwork for prices more than $4 thousand each slime Sunday, the original creator of this odd has currently made over a $160 thousand in secondary market royalties. These royalties get automatically paid into his wallet upon the resale of his own artwork. Powerful.
8. Displaying An NFT: So whether we displayed this NFT outweigh, displaying an FTR is one of the biggest drivers of the NFT OT world. You have to remember that we're in such a nascent phase. It's like looking at the first-ever computer game or the first version of Instagram and trying to predict where they might go, a lot of people still want a tangible copy of the artwork. Here are a few current, innovative, traditional options out there for displaying NFT out in the real-world. Currently, one of the most popular ways to display NFT OT is cold, an infinite frame. The company has five inch and seven inch displays that feature out one video or one image that loops on repeat forever. Business apps are additional software involved when purchasing the frame. Infinite objects give the oddest the option to insert the artwork into the frame before shipping it out to their customers, quantize. I think that's how you say it. They have a frame that aspires to be the Spotify of digital art, displaying playlist of artwork that you earn on a very slim line screen looking gloss portrait, There's a cool holographic display of your artwork. These options give you a physical representation of your NFT in the real-world. However, the revolution on NFT is also revolutionizing the way we display odd. Take a look at this guy, for example. He bought a people outward and it came with an infinite frame to display it in. But let's zoom out a bit. The frame in his house is probably viewed by five of his family members and 25 of his friends who come over in its lifetime. It's not actually the main way that it's going to be displayed or has been displayed. Just look at the amount of views on this video on YouTube. 200 thousand people so far have currently viewed the artwork that he owns digitally on YouTube. And if he also posted this to his Instagram profile, over a thousand people or so, probably see it over there digitally as well. We live in a much more digital world and the future is going to be predominantly displaying on digitally. And there are a few interesting ways to do this. Obviously, the traditional web 2 way of social media platforms such as Facebook, instagram, Twitter, and tiktok are a fantastic way of displaying a digital odd to the world. There are however, innovative online worlds and galleries such as flown, vive, and show time that are allowing collectors and honest to build their own portfolio and have the public view it entirely in the digital world. Think back to how MySpace allowed you to start creating the web. We are seeing the early days of self-expression and community creation inside the world of art. Right now, there are so many ways this can go. And display ability of artwork is one of the characteristics that will have the most innovation and defining impact on the way the revolution of digital art evolves.
9. NFT Art Success Formula: Awesome. So I've changed camera angles and settled down a little bit because I really want to change the pace and the theme of what we're doing. Well have gone and we've looked under the hood at the mechanics of NF T's and how they work and why did the next revolution. But what's really important is now that you understand this in the practical world. So we're gonna go out there together and we're going to do a little exploration. What we're gonna do this in a much more casual settings. So we're going to be using some screen-share going through these projects which have been massive successes in the NFT world. Absolutely astronomical, including people's 69 $1 million sale, which we're not trying to replicate that exactly for ourselves. However, if you do very well done, what we're trying to see is why they were successful. What factors will characteristics went into his launch that made him launch that JPEG for 69 million dollars. We're gonna go explore someone called Gary Vee, who is not an artist, but he's launched one of the biggest NFT projects at debt because he used those smart contracts, which that can now talk to you very casually about because you already understand to really have a lot of utility behind his project that offered his audience a lot of value. We're going to explore some smaller created as someone who doesn't have a massive as an audience of these people and see exactly what angle they took. And we're going to explore some of the ones that didn't do well. Because what you're here for, and what I'm here for is to figure out what goes into a successful NFT so that we can replicate this and create it for ourselves and for our audiences. Now, I've done a few hours, a lot of house that she of research on this and this is my opinion, this is a 100 percent my opinion. I'm not an expert in any way. But what I found with three really distinct factors bind all of these successful projects. The first factor is that everybody who had a massive launch was making what they love. Which I loved this because this is what OT is supposed to do. It's supposed to be an expression of yourself and it's supposed to be putting yourself out there and expressing what you really are passionate about to the world where you have a view on. And if you do this, it's going to be sustainable. Because you wanna do this long-term. You want to do this for the rest of your life. If you want to make passion or in art doesn't just mean visual art, we're going to go through some musical artists as well. But whatever is in your terms, you need to make sure you're doing what you love for it to be sustainable. Because if you wanna do it forever and you want to make a big brand around this, which is the second thing. You need to make sure that you can continue to do this as you evolve and you adapt and you don't get burned out. The second thing, like we just said, is to make a brand and build an audience around what you love. I'm going to show you techniques that this is actually being done by, by these people that we go through as we go through them. But it's very, very essential because and whole commerce in general is just supply and demand. Now supplies easy because that's just minting and FTEs. But demand, that is where things get value, where there's way more demand than there is supply. And you need to create as much demand as possible for your artwork. And we're gonna show you how to leverage obviously traditional social media and other strategies to do this. I'm not gonna go too deep into that, but you need to make sure that you are documenting yourself, your journey, your artwork in order to build up this demand around your OT, we get into more of that as we go along. Now the third factor and I loved this factor as well, is you need to make your NFT project about your audience and not about you. Because people care about themselves, that, that more than they do about new. You care about yourself more than you do about me. It's just being human. That's how humans work and it's actually a really great trait. But what you need to understand is when you launch an NFT project, you need to have other people's best interests at heart in order for it to be successful. If you'll just trying to launch a quick, crappy little project to try and get as much money as possible in the short term. You're going to do really well in the short-term, but you're going to do very bad in the long-term. And these best projects that we're going to go through together have really looked at for their audience and they've done some really incredible things for them. And therefore they've got paid back because remember they have royalties in the secondary market. So the more the audience wins, the more day when this is the aligned incentives thing that really is revolutionizing this technology and the way that we interact with one another. So let's jump in together. We're gonna go through a few examples once and it's going to be much more casual. I want you to sit back, Explore along with me and take some notes and keep those three factors in mind. I'll be reminding you as we don't, and making sure I draw your attention as we get more practical and specific into these three factors. But I want you to have them at the back your mind whenever you're thinking about your own NFT project.
10. Beeple’s NFT Project: Awesome. So we're gonna go casually through a few of these projects together. And what better project to start on, then people, if you don't know people, this is the man we're looking at here on the screen. And what I really like about him is he's very down to earth, seems like an everyday person. And it's really committed to his art and the process of creating art, which I'm a big, big fan of. But what you might realize is we're actually on the website, Christie's. This is the very exclusive auction house, I believe at a New Yorker. And they're the ones who sell the da Vinci paintings and older ridiculous Renaissance paintings. I go for hundreds of millions of dollars literally. They, they have sold. And you've probably heard of this one because this is the most famous NFT that really put them at the end to the mainstream. They have sold by people's art as an NFT, the first digital art that Christie's actually sold, and it sold for 69 million dollars. I don't think they have the sale price here because this is the listing. But as ridiculous, 69 million dollars. So if we're looking at what makes ego 69 $1,346,250. And that obviously was done in a theorem which is a cryptocurrency, which we'll get into a little bit deeper. But what I'm here for is, this is the current most successful NFT in the world. So what a better place to stop, where there is no better place to start then with people and finding out why this did so well. So we could replicate something like this on a more macro-scale. Macro scale if you're up to that. So you can see this artwork is created over 5000 days by the groundbreaking out as people. This monumental collage, it was the first purely digital artwork and FT ever offered at Christie's. So there's a few things in here. You can see the artwork here behind on the screen. You can see it is a collage of many different pieces of art. And what you might be noticing is some, some of them over here, absolutely incredible pieces of art which I'll show you some of those in detail soon. But at the top left you can see this looks like a 12-year-old journal. Looks like I drew it. He can see some of this on the top-left is really quite amateur. And that's why it, because it took over 5000 days or I believe that's about 12 or more years for him to create this because he has done a project called every days, which is ego creating and posting a brand new digital pitcher, or every day as he called it, every single day for 13.5 years. Now there's indivi, individual pieces have been brought together in every days, the first 5000 days, a unique work in the history of digital art. So this is literally a digital version of every single artwork that he produced in the first 5000 days of his journey of doing every day. Now, not only do I love the concept of doing every day isn't honest, it's very, you know, Steven Pressfield centric way you get up and you create as an artist and actually produce a piece of work. And I've been watching some of his videos. He puts a very strict time limit on when it needs to be created and posted by. And you know, he doesn't judge himself early. He wasn't the best artist that didn't have years ago, but now he's creating immaculate works and is really the probably one of the top three highest paid artists of owl life. And this is some of his life. You can see he does a lot of very outlandish style. And then a lot of very, so as you can see, just scrolling through some of these now, meaningful. And so it's odd. So this is him over here. This is his Tumblr, believe it or not, Tumblr is obviously a very old sort of blogging platform, but it works really well because he does a piece of art every day and just post it here on his Tumblr and some of his other social media, which we'll get into in a second. But this shows really when he started posting. You've started posting 13.5 years ago. So back in the late 2010, 2000s. And Tumblr was a big thing back then and it just hasn't moved off it, which is great. So you can say this was his piece of artwork today. You can see it says These piece of artwork yesterday. He's digital piece of artwork. The data full and a day before. And you can see some of them is simpler than others. Others quite complex and would take a lot of time. But he literally just hasn't missed today and have a 13 and a half years and he just creates a digital piece of every single day. He says he doesn't judge himself for it. He doesn't have perfectionist standards where expects himself to come up with like some, something that's absolutely revolutionary in just one day. But some of his days just by accident he does. And you know, when you put it all together and you put that whole gigantic together, he has come up with something that's absolutely groundbreaking. So I really, I really do love is that like personally, I'm not sure how you feel on it. But either way, we need to understand why he is the top selling NFT honest out there and how we can really start to model it. So the first thing that I wanted to focus on is his brand. Because remember what we were talking about. You need to actually create a demand. And the any way we can create demand is by creating a brand or a following. And there's a lot of really cool ways to do that. Obviously, Instagram is one of those. You can see on Instagram, he has over 2 million followers. So it's no coincidence that his artwork is selling for a lot of money, you know. You could have the exact same artwork that he has. Like one of his famous ones, which will pull up over here is say this bull run here. You know, I could create this Tamar and put it up here. But it's not mine and it's just a little bit slow, but we'll let that load in. But if I created this piece of our kid is Bull Run, Tamara and put it up here. It's not going to sell at the same price that at sulfur, which I'll get to exactly how much that is in a second because I don't have the demand for myself as an artist. So a big part of NFT is, is you can't skip the brand building. And I'm going to show you exactly how he built his brand if you haven't seen that. Most of it already, which is just creating content every single day. And you can scroll through Instagram and you can see it's got some really awesome artwork that he's creating every single day. He's got content and it gets a lot of engagement on hand. So you can see that he picks and he's using SRX face. He does Buzz Lightyear, he's got Elon Musk up here on a DOJ is Buzz Lightyear again, this outward from the lot of money in the sun. And he's built a brand. Come over to Twitter. You can see it's got thrown and 82 thousand followers. So you can see that the demand side of his supply and demand question is obviously really well taken care of. And the more he creates a sophomore, he sells that up. And then while people are collecting, which would jump into now the mobile arts becoming worth. And everyone who holds a piece of art once seemed to create more and more. He's creating more and more. And everybody that his whole tribe is rising as one because of this new technology. So jump over to nifty gateway over here. And once you pop back here because I want to explain exactly how we set up some of his NFT launches and why he did it that way and how they went. So you can see this is the 2020 people collection. It dropped on a Friday at 07:00 PM. And he uses quite crude language, we might blow them out. I'm not sure what we're supposed to do with that, but we'll keep going. So you can see it's got 21 single addition auctions throughout the weekend. Single addition means there's only one of them. I'll just scroll down. So these open addition open additions here, single additions. Yes. So you can, you'll understand that there's only one of one. You can see down there, only one copy of this is being sold officially by people. And then you've got three open additions for five minutes. So single edition is just one copy, so they can only be 10 that print. An open addition is actually a little bit confusing, but an opened in addition means that can be an unlimited amount of that. So that could be a hidden, that could be a million, they could be a 1000. But how do you determine how many there are? He sets a timeframe on how long people have to buy it, which is great because it creates scarcity. When there's not scarcity in the actual amount of things that you can create. He needs to create guessing the time that it's available. And you can actually see this is obviously way before he blew up because otherwise this would be much higher numbers, which is also nice to see. 271 addition. So these are the open additions to the boron, which we just went through. His Pikachu with his brains exposed. And here is into the ether and other really cool space foam with a theorem which is a type of block chain that these things are actually embedded on or the smart contracts are embedded into these Ole. We're open addition for $969. So they could have been a million of them sold and if he'd launched it again today, they probably would be a lot more than this. But you can see at the time a couple of a 100 of each was sold and I'm going to show you how much they were resold for though, both for just under 1000. And we'll get into how much the result for in just a second. And this one is a really, really cool to understand because this is something that I wouldn't really like, this sort of stuff to do with my brand. And if I come out with an NFT of some sort, I'd like to do something like this, which really rewards his tribe, rewards everyone who's really close to him, which is one about assets. Making sure that our LFTs serve the people who buy them and not just ourselves. And I'll get into what He is, how we display stuff in just a second as well. But you can see there's a 100 addition to a single edition is 101 della addition of a 100 means it's a 100. Owners of a $1 a piece of art which we come down here, $1 here. So this is people every day is role. So we can actually click on it and see what that looks like. I'm actually not sure, but these were available for just $1. So he says Get those trigger fingers ready because, you know, for a DLA, they going to sell out really quick because What's the chances are they're going to appreciate or you're going to become one of his tribe. And inside this for just a dollar, everybody's going to want one of those. And in fact, all the servers crashed when he offered this. But the really cool thing that I actually just saw was that he's saying he's going to be this NFT will be updated at the end of 2020 to include every single everyday for 2020. So he's everyday is which he does want a day, so thread and 65 of them in 2020, he's including in this, even though he hadn't done them all yet. So this is the cool thing about digital art is you can actually go back and add to it, or you can change what it is. Obviously you have to specify before you sell it. Could you kind of go back and just doodle over someone's artwork? He's saying that you get every single one, even the ones in the future that he's creating offer a DLA. Now why would you do this? Well, because the secondary market, like we're saying, is when money is really made and one, you get to reward your early customers, you know, early inside a tribe of people who had been therefore you supporting you those first 1000 subscribers able to get a piece of the pie for just a deluxe. And I've run has a $1000 to buy one of these. And they know that if they hold on to that, that will appreciate over time just like any good artwork does. And there's going to be collected as out there that are going to offer them a lot more money for it. And guess what? People then get paid once there first group of people, those people who are a 100 people who bought this when they resell that on the secondary market, people will get that 10 percent rho t, which is just absolutely revolutionary and game-changing. So let's go find out exactly how much this has made over ready on the secondary market. So we're going to come in here for a nifty gateway and you're looking at now the project is click on the actual view listings in the marketplace, the link down there. So you can see this people everyday is wrong, which now includes everything because it is a dynamic piece of art. It's lost edition that was solid. Remember there's a 100 of them and that people are going to ask for ridiculous prices doesn't mean it's actually selling for that. You can see up here the last one that was sold, $50 thousand, which is incredible. The lowest ask at the moment is 66000. So if you want to buy one, you can see this one up here, sixty-six thousand dollars. And the highest bid at the moment is $45 thousand. So you can start to get a really cool idea of what that reselling the market looks like on resales. So if we were to come down and click on, say this one, number 49 out of 100, you remember there's a 100 of them minted. A 100 different owners will earn this same piece of artwork and you'll get a individual number to identify which one you own. So you can see this additions on sale for 200 Gs. And obviously it's not selling for that because it's other people who said is for less, come down from mockups debts. You can see this is the price increase from primary market, does a dot in the primary market. Now the average resale prices 37 thousand dollars over ready. Remember this is, goes on in perpetuity as a baby who continues to build his brand. Obviously his OT will continue to appreciate and value as long as he maintains quality and doesn't oversupply in the market. And you can see the secondary market volume is here. So that's good highlights and some of these numbers, I can figure out what this is. $3.6 million in secondary market volume. Remember people gets 10 percent every time the cells in the secondary market. So he's got $360 thousand paid to him selling a 100 pieces of $1 digital art. So that is a fantastic way to really reward your early customers, the people who are closest to you, but still have them get most of the upside of the resales. As you build that brand on behalf of them, you know, you, you know, that tribe now. But you still a cut in every time. So you still being paid for your work, as are the people closest to you. And guess who's going to come in and buying next piece of hot? It's those people who were resold that first piece of artwork, that there were those profits ready to buy that next piece of art, if you do it correctly. So families really cool video about people which I wanted to end on. This is him explaining the absurdity of LFTs is two points here I want to go through. One is to build a brand. Now, this is how people says he built his brand. Today. Every single day start to finish, and year after year. And people gave them away and built an audience online, sharing my stuff and putting it out there, I think actually makes the stuff more valuable because it makes it more popular. So you can see what he said by sharing his artwork and putting himself out there, putting content out there which his, his, his, his artwork, he was able to make it more popular, which is build his brand and building social media around it. If he did this without documenting it on Tumblr, without documenting on Instagram or Twitter or ease even got a YouTube channel if he does that and then tries to sell his artwork, no one's following him, no one understands, unless it's pretty incredible artwork, you're not gonna get the $69 million sale only because he documented the Junie document at the processing, built a brand around it. Was he able to sell that? So that's a massive takeaway in order for build demand and make it, as b equals said, more popular, you must be putting out content around what you're building and what you're doing. Now there's a second part in he had 346. Scroll over to here. People addresses the absurdity of just selling something digital, something non-tangible. And this is what he came to the conclusion of a shell coiling. Okay? His work can also cross into topics that can be offensive or provocative. So as people trolling us with his art and with this idea of selling something that you can get for free off his Instagram. So I'm like, Okay, well that's not a totally invalid argument. What can I do to sort of like nullify that argument? Back in December, people provided a physical product along with the NFT for his digital art. There's you can't get on Instagram. This is like a physical thing that you can, if you're buying the NFT, you get this. So it really kind of instantly sort of like changes it. So he's saying, like everyone's first question is, why would a JPEG self is 6 $9 million? Because you can get it for free. You can get a copy of it for free. But just like you can go and take a photo of the Mona Lisa and then, or you can get one off Google and put that on your wall. You obviously you don't own the Mona Lisa, you own a replica. And it's very easy, easily verifiable, and you're going to look pretty silly if you just got a photo of the Mona Lisa and pretending that it's something valuable. And he understands that people still want something tangible in this day and age, he's decided to use those infinite frames to help display it. But you can also see that really cool case that it comes in here and we went through this in the previous lecture. But you can see here's that frame over there. He's got a certificate is going to cleaning cloth and he's got a little Java home kind of stuff full of hair, which is hilarious. But also, you know, he's trying to make it things that you can't replicate and obviously conquered peoples hair unless you get from people himself. So a fantastic dive into the world of digital. Starting from the most popular man at the moment and really how he's built for that. So remember the three things that you got to pay attention to, and we can see which ones he did really well because that's what makes a successful NFT project. One, are you making what you love? Obviously, people's making what he loves. He has no rules for 40 makes he just sits down and makes one thing every single day. So he's choosing what he wants to make that day. And you can see he actually picks like, you know, things that are trending or things that are on his mind. And he's making these statements and expressions from them using his digital arts. So yes, he's obviously making what he loves to build an audience around what you love. We're on his Instagram right now. He's got 2 million followers when he launched. You might be thinking, Oh, maybe add nofollow was when he launched. Now, when he launched he had 1.7 million followers when he launched his first LFTs. So he built a brand and he built demand obviously around his artwork, otherwise it wouldn't sell for so much money. And number three, make your project about your audience. Now, people does this, does this in a couple of ways. One, he makes around what audiences are already interested in. So he did a lot of crypto out like that boron here. He does Buzz Lightyear. This is stuff that people watch old Garfield. If you're a Garfield fan, you're Elon Musk fan. This was when Elon Musk, the bull run by going on Saturday, Saturday Night Live and saying not very much. But you can see here, here he is punching the bull and the notice is trending in pop culture and people can resonate with, and it's for the people who are in that pop-culture consuming that and be like, oh, yes, that's a really cool way to represent it in an artistic way. The other way he did it, like we saw, was selling digital art for $1. So you know, that is for his tribe. And even if you don't get one of those a 100 pieces, there were hundreds of thousands, I think 400 thousand people lining up to try and get one. So that's creating that demand and that's creating that hoping people that they could get one of these. So he really does satisfy really well those three requirements. So there's three characteristics of the best and empty launch. So for his open addition ones, you can see it will go through this bull run together, which is obviously a big coin on a massive boron. So boron obviously is when the market is trending upwards where these Bitcoin prices are rising. And he put the Bitcoin on the back of the bowl. Really autistic and Kuwait now, only 271 of these were purchased for $969. Obviously, this is before he launched his massive projects and was sold by Christie's. You can see his is how it's displayed in hand. Very cool, Very well done from him. Now if you come down here and this is the really cool look under the hood at the smart contracts and what is involved in this NFT, because the NFT is a physical token that can be registered on people collect.com and we'll have the collector the option to provide additional off-chain info, which is their address where they ship it to and all that stuff. So the physical token details and interface free always on artificial physical artifact of the NFT featuring assigned number titanium back plate with hidden authentication mock-ups. So you can see that is this right here, which you get to display in your home, which we went through together. Also on this token is cleaning cloth, hair sample, QR codes that link to the actual verification of your artwork. And when it ships. For more information about this piece, click here and get it. So you can see that this is what he has put into a smart contract and what he owes you when you buy that because it's literally there on that contract when you actually buy this NFT When he achieved by this token. Now if we want to have a quick look at this bull run it. So for 969 on it sucks seven, something like that. Dulles can see 271 of them were sold. And if we go down and move click on say this one that's currently listed at a $100 thousand on the secondary market will be able to see exactly how this is going. So originally 1969, it's appreciated for 40 to 100 percent and the average resale price is $41 thousand. Remember, this is going to continue to rise as long as people keeps going its brand and doesn't over saturate the market. The secondary volume, you can see he's done $6 million in secondary volume and he's gonna get about 10 percent of that. And this was a really successful NFT launch frame. And a way to do it in a very interesting way, which I quite like is an open addition. So there were 271 of these ended up being purchased, but they could have been many, many mole. So this is a good balance for people because he made money in the primary market, but he made a lot more money in the secondary market and he'll continue to make mall in that secondary market from this.
11. Gary’s NFT Project: Awesome, So I'm very excited to dive into this one with you. This is called V friends. And once again, I just want to casually looked through this, explain to you everything that I personally understand about this and what we can take away from it because this is a nulla, very successful. Nft launched by someone called Gary Vee. It'll Gary vein and Chuck, if you are not aware of him, he will be very soon. Now, this is a really cool because we just went through people. And people is what you'd call a, a, an artist. I actually think he doesn't. Explaining self described himself as an artist. But you know, he's odd, It's pretty phenomenal. This one is quite fascinating because clearly this is not what I would call phenomenal. Now I'm not trying to and artists objective here, but this should I say this could be replicated by a lot more people than people's up. And because of that, you'd think that it doesn't sell very well. But actually it's one of the most successful NFT launches. And that is why I actually want to go through it with you because NFT odd is about so much more than just the outlook. Going to take a peek behind the hood at the smart contracts that are involved with this and how Gary Vee was able to sell a lot of these. So you can see there are 10,255 NFT tokens salt. Now that doesn't mean that 10,255 individual pieces of art. But they could be these, uh, one of ones here, but there could be one of hundreds. I'm one of tens of thousands. And they could be different amounts of the same addition, just like we saw with people's artwork. So consisting of 9400 admission tokens, 555 gift goats, and 300 access tokens, including many one on ones. Now we'll go through these together. But what this is saying that they are not just the outward, this is not just a photo of a ladybug that you're going to be displaying, maybe around your house or maybe in a digital gallery. This actually, and this is why itself a 10 ether, which at the time was about $40 thousand, is because it's called a lunch lady bug, which is one of the one on one, uh, one of once the one-on-one tokens that allow you to actually access Gary V. So if we click on that, you can see he's selling he sold it, obviously through the Ethereum blockchain, but way so that the marketplace is actually his own website and v friends, he's hosting it himself, which obviously is a lot harder to do. Even people who selling it on something like nifty Gateway. But the primary place, primary mean the first place that Gary sewed it was actually on his own V Friends marketplace, which you can see everything is searchable here. Now, these ones here are called hanging at HOK. So you can see that there are a 125 additions of these. And this is a photo of a hawk. If we click on it here, you can see it move really cool here. And this is number nine out of 125. Now, this is also known as an, as an access token and a group access token. And if we read the details, he had the holders of one of these, a 125 handhold tokens will be invited to join 50, 60 minute virtual hangout question and answer sessions with Gary vein and Chuck per year. So they get to do 50 zooms, Zoom calls or FaceTime calls with Gary V per year. Obviously with the other a 125 people on that call. Eg shall be defined. So this is going through the technical, what a year means, which you have to be in a smart contract, you have to be very technical. In no event shall this experience, including this Hangout experience, occur after May 5th, 2020 fall? In other words, there are 15 total redemptions occurring as follows. Five, in the first year, 5, second year five, and the third year, All Access experiences will be prescheduled and advance with 90 day notice. This token is verifiable for admission to V. Khan. And these three years, this token is a collectible that lives on the I'm a blockchain. Now we know what that is. The token is on the Ethereum blockchain. And you get basically two perks or three perks with this one, you get to go to V Khan. Now V Khan is Gary's basically conference and he's throwing in entrepreneurship conference and this is the ticket in. So you'll have to show your access token, your token that you own that in order to get into his event, which is quite revolutionary. There's not very many places at the moment who do their tickets through NFT, which is a great way to do it. And it will be in, you'll see more and more people actually do this. So you can see as a side benefit of owning this piece of art. You get three years of access to this Entrepreneurship Conference. On top of that, you also get 15 total calls with Gary and the other a 124 hanging at HOK holders. So you can see this is a sense of community here where you are getting contact with a 124 other people who love Gary Vee. And obviously I love what he stands for, which we'll get into what that is in just a second. And obviously you get access to Gary V is What's a question answer session? It's any 60 minutes, so you get half a minute each, which isn't a lot of time. So you wanna make sure he's speak up. But remember this is that is recyclable on the secondary market. So you could actually redeem those first five and then resell this piece of artwork after you've gone to the first conference and and called him five times, I had those goals five times and someone else can buy it for that second. Now, I don't know if the outlook will appreciate or depreciate. The market would dictate that. And how good these calls on how good he is conferences that first year and how much he grows he's brand in order to create more demand for these. Because remember, they also become collective collectibles in 20 years from now. And there's no more actual utility to it to be the holder of one of his original NFT launches, as long as he continues to build his brand will be quite valuable. Just like if you can imagine, maybe adele, the singer, had NFT project on her first album. If you had earned the FFT of that and he bought that, it's going to be more and more valuable the more she built her brand. Now, I want to show you a couple more of these V friends. So he calls them friends now. So we'll go to the one on one so you can see there's a 1881 on ones and you can see how much they sold for it. So the time that these were launched in the primary market, one ether, you can see those three little lines underneath theorem. One, ether was that full thousand US dollars. So you can see this sold for 72, 73 thousand US dollars. And it's called a Seba sunfish. And you can see it's a one-on-one. It's a one of 11 on one, this one. And you can see basically you get a 90 minute one-on-one dinner with Gary V, which is very valuable. You can see GAVI obviously drew these these Himself. And you can see obviously you get access to the vacant stuff. And it's essentially the same Zealand, but you get Diniz instead of FaceTime calls with a 124 other people. Keynote koala. Gary V. Gives a lot of speeches. You basically invited to every single speech that he gives. This one's a very cool one. And I just want to go as while you're looking at these, obviously, you don't have to offer the same stuff that Gary's offering. But you can see how can you make your art different Hakone make it more beneficial for the people who actually use it with utility. They're giving your time, your attention, or adding stuff to that. We have another really cool example of that. Someone who added a very valuable second piece of art to anyone who held the first piece of that, which we'll get into. This one here is a wine shopping spree, which is basically a 45-minute shopping spree with Gary at his wine store in New Jersey with $10 thousand store credit per year for two years. Which is pretty awesome. See you literary get 20000 dollars a store credit just by holding this piece of artwork in your wallet. And you can see obviously he drew it himself. It's really cool. You can see not many people are doing this. And Gary V is basically leading the way in terms of utility of his tokens. This one really, really cool down here as well, gift goats. So these ones are gift goats. So there's 555 of these. And you can see the top one sold for five, which is about $20 thousand. And if we sort low to high, we can see what the lowest one. So for originally owned it comes up first. If we can scroll through this first pages, I can see the, I guess the lowest price must for them must have been five, which is $20 thousand. That press did actually drop a little bit, while some of these were available data about $3 thousand. And so you can see that between 15, $20 thousand and actually considered buying one of these myself. So let's get back to those gift goats. Because GIF or GIF code here we go. So let's click on, say this one here. So you can see a minimum of six physical gifts will be sent to the two gift go token holders per year for three years until token experienced expires. So for the next three years, you get six gifts from Gary every single year, so a minimum of 18 gifts. Now, as he didn't end up buying this, you can see this guy here, but this one, he drew the shape of a gift or present, which is pretty funny. But essentially, I didn't end up buying this because for 20000 dollars, those gifts have to be valued at over $1000 each. If you're not thinking that this gift, God itself will appreciate if, for the artwork. So I actually didn't end up buying one of these, but I thought the idea of satellite people, how we took someone's physical address as part of the smart contract and mailed them out the actual physical version of the artwork with his piece of his hair in there. Gavi has done that, but with actual gifts and the way he's gonna do this little side note payable at those quite fascinating, because he has a big brand which we'll get into in just a second. You can see these tabs are ready to go. He can partner with really big businesses to say he partners with like Nintendo because he's got a big audience and he sends out his gift goats and new Nintendo console. And he's basically saying, Hey Nintendo, and you need to send 555 of them for free. I'll document the whole process of giving you a tension for that new console across all of my socials. And basically anyone who is out of a gift goat will just wait. And that will obviously be filming. They're experiencing IV or repost that. So it's good for the brand Nintendo, they get exposure. It's good for Gary because he's fulfilling his gifts that he has to send out to his audience. And it's good for the person who's just getting free, Gibbs. So there's a cool symbiotic experience there, which remember, is looking after your audience and making sure there's more than just you're awake, but there is some form of utility there, but obviously don't overextend yourself via that. Look after yourself as well so you can continue to do this and make it sustainable. But I thought this was a really cool idea and execution on that. Obviously, you also get access to his to his conference, which you know, if if conferences and only a couple of thousand dollars. So if effected that into the gifts as well, it could be a very good price and then you've got the collector press on that. But you know, there could be other ways to invest that money as well, which is what I eventually went with. So this is a really cool way to use utility and the smart contracts. Now, does Gary Vee have an audience and a brand? If you don't know who gave he is yes, he has a massive audience and a massive brain has been documenting he was doing daily vlogs. Say remember, people was doing belly outlook, daily housework, guided with daily vlogs for about three years. He's also been posting since, I think 2010, 2012. He's been big on social media. You can see it's got 6.5 million Tiktok fellows at the moment, 2.3 million Twitter followers ago, the top 100 podcasts. It's got 9 million followers over here on Instagram. And he just absolutely turns out content. I mean, he runs a he runs a digital marketing agency. So he just does his own personal brand with that agency. You can see here in these insulin buys, got credit a V friends and he put V friends everywhere, everywhere. When he launched this, it was on his podcast, it was on other people. He did podcasts and other people's channels. It was on his Instagram, was on his Tiktok. It was absolutely everywhere. And he really leveraged that brand and tried to make sure. So you can see it says on Open see over here. But you can see he tried to make sure that his audience was really well-curated full. So I wanted to show you this example as well, because it really highlights the secondary market because of course, Gary V has used the oddest rho T structure here to get 10 percent of all sales in the secondary market. And you can see he's got this patient pig, hedonists, that diamond patient pig, which means it's only one of one. And there's no other diamond patient pigs from him. You can see that it's all for 3.38 on the primary market here to this guy, daddy Kolisch, dot-dot-dot teeth. And if you view on open sea, which is obviously a marketplace where people can resell in the secondary market, it actually resold for 5.58, just about 14 days ago, so two weeks ago. So you can see, you will understand now that guy V, we'll see 10% of that himself in that resell. And that'll help him put on these conferences and offer these values, these gift, God send those out, be able to have more time to do his hand hawks and stuff. All of this money is supporting him and supporting his audience. So those three things, remember, one, do what you love. Gavi has created these animals around almost like attributes of people that he believes in, the patient pig or the, if we get back to the library, we can see some other ones. I don't know them off the top my head. A cannibal, NTDs, a adaptable alien and ventures astronaut, ambitious angel. So you can see these are all qualities of people that he would like to see people in body. So he's doing what he loves. He's obviously not overdoing. This is a cool little green guy here, is not overdoing the artwork, but he's just, you know, if he had to loan out, he probably wouldn't love it as much. So you just expressing himself in the way that he knows how to. Number 2, did he build a brand? Yes, he's been building a brand for for 15 years. He started with wine and then he went into business and entrepreneurship. And he's absolutely crushing brand-building stage of things To with that brand and audience he built. He made it about them. He made it about utility, executing in those smart contracts. And actually having people who buy these be better off than not having them all just abandon them and launching a brand new NFT project. He's looking off to the people who are actually buying them. They become part of his tribe. They can resell them for potentially more money in the future because they come become collectible items because I thought, after all. But they also get access to his conferences. They also get access to each other and that sense of community. So a really good example of an NFT project that really utilized the smart contract and utility side of things.
12. CryptoPunk’s NFT Project: Awesome. So before we jump into this one, crypto punks NFT sell at Christie's once again, once again for $17 million. I want to just make sure you know that I'm not telling you that you need to launch a project like this or I need a launch a project like this. These are the most popular projects ever launched, and there's different reasons for an agile here is to take the pressure of us needed to as $17 million. We just wanted to make and sell that and be able to sustain our lives with debt. But there's reasons why these worked. And I want you to make sure that you understand those reasons why they worked. Because that's really just like the Baia, the collect up and the whole industry psychology. And if we can really lean towards those and understand that the most successful app projects are going to be for us and for our audience. So don't pay attention to the millions and millions of dollars. It's not about the money out here, but it's about what the money represents. Why is it going for that much? Because they've done things right. And the things that they've done right are the ones who are going through. So the crypto punks NFT sell at Christie's for $17 million. So this is Christie's, I believe second ever an FT that they sold and it's up to 17 million. And it was believed these nine crypto punk. So these are individual jpegs. This is just being put together for the website. And they say, oh, you can see it's a very interesting one here. Basically, pixel art, pixel people. Now these are general computer generated faces. And why did they sell for $17 million all what's that? Almost $2 million each because they're basically one of the first ever FFTs. These I believe, were created in 2017. And there were 10000 small pixel up portraits of people, zombies, aliens, and apes. Each one was algorithmically generated and features different attributes. So these were all created by artificial intelligence, like hairstyle sunglasses or hats. I'm traits are rarer than others. Now this is a really good point for crypto punks because they have a lot of scarcity. Remember, supply and demand. The less supply there is, more demand there is. The more scarcity there is, the high the price is going to be so something, and we'll get into this, something like this blue guy, this little alien here is very red because I believe there are only about nine aliens made out of those 10000. So the computer basically generated 10,050. So if similar to Gary, these numbers, and obviously you can get more than one edition of each. But these aliens were super, super red. And when we go and look at what's the most popular, you'll see it's the elite, not most popular and most expensive. So this is, however, pay attention here because this is something that I was very impressed by, something I learned from this NFT launch and something that fits our requirements really well. It benefits you, it benefits your audience. And really creates like that tribe symbiosis. The group who launched these cryptic punks they called lava labs, initially kept a thousand of the FFTs for themselves and gave away the rest. So they created 10 thousand of them, but they kept 10% of them for themselves. They owned, they assigned it to their own wallets. Now, they didn't sell these at the start. They went selling them but giving them away to certain people. And because they were so early in that become real thing now, collected pieces of artwork because obviously they're not the highest talented look in. People sell outlet, but they will collect his pieces because they were so early. Now they kept 10% of these for themselves. So as the market inflated and you can see total value of all sales font and $83 million over here with the with the lowest crypto punk currently selling for $38 thousand or 15. Eith. They own 10 percent of that market and they kept it for themselves so they can resell their own and get it out there once that price inflated like it did. So I'm very clever way to have your in a community rewarded because I'm giving you my app for free. But I also earn some of my artwork that I can sell a little bit later as I build my brand, who's my audience? Boo my demand, but allow you to have some of the upside, my closest audience, and allow myself to have some of the upside without directly selling expensive things to my audience who might not like that as much as B given SF a free that's going to inflate in Christ. So that's a really awesome way to have your close audiences best interests at heart and also get paid. So you could do this full time as a job, as a job or as a passion project. Now, you can see these are the largest sales of these cryptic punks, full point to the house and eat, or $7.57 million for this alien smoking a pipe. You can see this one here, 4.2007.58 million, which is actually more than this one. Funny enough. So this is the top cell here, 1 50 million, for this one here, 1.81.18 million. So absolutely ridiculous prices. Why? Well, because basically, because they were first, they do Had, they didn't build a massive, massive audience, but they are building that now just based on the fact that they'll first, but it's almost like What was the very first social media platform? Myspace, like you could go and you could own MySpace, You know, it's, it's, it's a collector's item. If you own MySpace, It's, it's one of the very first pieces of art that was done on the block chain. Now, what was really cool with this is that done by lava lamps member. This is the lava Lab's website here. They have this tweet here, new project alert, the bits me bit.ly labs. I come 20000 unique 3D voxel characters with a no fee trading marketplace. We're giving away free ones too, old punk and glyph owners and 9 thousand will be available for anyone on anyone to buy shortly is the details. Now, this is phenomenal because you can see here is a photo of him that basically like 3D versions of the actual cryptic punks that were first created. You can see a lot more character to them. Some of them, I like elephant trunks and stuff, but they're very smart and they know what they're doing. So they have 20000 and FTEs available. But you can see what giving away free ones to all punk and glyph owners. So it says 9 thousand will be available for anyone else. So they're obviously going to keep it 1000 for themselves. I believe 10 thousand crypto punk owners were out there. I'll maybe there's a, there's a thousand glyphicon is that basically they're giving away 10 thousand to anyone who owns that pasta and FTEs. So an amazing way to look out for your original audience and reward people who currently own you NFT, you can always come back and add value to it. So if you had artwork and you had an original people who had an FFT. And you can say with the second series, you can say, Hey, here's a copy for everyone who already owns my NFT and what's I can undo. It's just going to absolutely inflate the price of that first NFT and, uh, put out and inflate the price of the second because they know that if I'm a hold of one of your NFT artworks, I'm going to continue to continually get rewarded in the future as you build your brand up. So absolutely phenomenal job by Lovell labs. And you can see this is the page of the MI bit characters here. They all on the midst of lava lamps.com is when they sold on the primary market. You can see they move around a little bit. And if we go to for sale over here, you can start to see how much they're actually selling flow. So this is 0.88 over here, is what people are asking for. And which can seize isn't as high as those crypto punks. But if we can actually see attributes here, and the scarcity is what's going to really sell so dissected. So they had a dissected sort of EBIT, which you can see obviously that enough skin, but they get this little white box or random instead. There's any five of those. And the average sale price is 700. This guy wants almost 300. Four here visited. So the aliens, there's any 18 of those and you can see 3148. Yeah, you can see it's basically done by half scarce something is how much, how rare it is not enough supply and over demand for it is what's going to inflate the price. And you can come, and you can see they've done a little whatever characteristics or attributes that people have, you can go and you can shop that sort of meet bit to potentially buy it. So push up by tattoo, which is very interesting. So here's a human with that specific tattoo right there. And you can see it over and open, see if you want to buy it there. And obviously me bits and lava lamps own a piece of the secondary market too. So when the cells, they going to get maybe 10 percent or 20 percent on whatever the cod coded into that smart contract. So have they made what they love? Yes. You know, the people who were here, first lab, the labs though it really, really early innovators in this. And, and if ti market. And basically they will want the first pieces of art up DES. So yes, they loved the technology. They love creating antibodies, that is that passion. And they creating what they love. Did they build an audience around it? So this one is actually interesting because they didn't really build a massive social media following, but they would just wanted to first they were one of the early one, so we can't really use them and have offspring. One of the first because we went 1. So we can't really use that leverage like they have. So we need to make sure we're building our brand. But that tell you what they smashed, they made it about the audience. Not only did they give them away, these initial projects were absolutely given away free. And how they made money. One, on the secondary market, they'll take that 10 percent, but also they kept that 1000 for themselves. That's basically having like company stock. And as their stock prices rise. So the ones that they currently under themselves, and they're continuing to add extra value back into their projects by launching new projects, new NFT projects, especially as they become more and more popular and giving their original holders them for free. Really cool.
14. Poor NFT Projects: So we know the three characteristics that really make a successful NFT project launch. You'll want to do stuff you're passionate about and that you love. So it's sustainable and that allows you to be consistent and create a brand and an audience around. When you create a brand and an audience around it, you're creating demand. So when you come out with something that's low in supply, they're going to want it. So you creating an audience and you're looking off to the audience's interests. So they actually want a piece of this pie because they know it's, their best interests are at hot. Now, basically, we're on urban see over here. And this is where most of the LFTs are going to be searchable and findable. Now, if we click on Explore here, there are so many NFT projects being launched and so many FTEs being minted. It's kind of crazy. I don't know how many a second, but it's thousands pop up every single second. Now, in order to have your artwork stand out, you need to actually, I have an audience that's going to help promoted initially. So we can come in here and we can find this is a photo of a dog that someone has made an NFT which is cool, that's cool to come in and create an NFT and not expect to sell it and resell it and make money if it's cooled it just create your own entities if you want to make your dog and NFT, and that's fine. But if you want to launch a big NFT project or you want to make your artwork, you'll Korea. You want to stay away from doing old for not doing those three things. And you can see anyone who is launching this stuff down here, or anyone who's just minting just for fun, has no utility. And you know, they're not, they're not focused on this as making their full-time passion. They're not making this about their audience. Then not making what they love, they making maybe what they think will sell really well. And also they're not building a brand around it. So if you have some free time, come in here and just see what people are doing wrong. Because I focused a lot on what people are doing right. But, you know, maybe 2% of FTEs I going to actually be profitable and actually be useable, have some form of utility and appreciate over time the rest of it is going to end up being junked just like most of the social media platforms ended up being junk. Most of the websites ended up being junk. And he had the gold. Then maybe the Amazon, Google or Facebook, the Twitter. Inside the a lot of junk you really need to identify what makes them gold, which we've been doing, but also what makes things junk. And it's basically those three things that we go over. So if we have a look, say at this crypto blob fish over here. Again, now they want 25 bucks for it, or 0.018. And it's key, it's a little blob fish floating on pixel lot. But what makes it so successful is the story and the narrative behind it. And you know, these are really easy to create. They're obviously inspired by crypto punks and then trying to make the crypto fish of the crypto punks. But there's, there's no story and narrative for me to want to buy this. And in fact, I could probably replicate it pretty easily, just like I could replicate the crypto up on pretty easy. But everybody knows what a crypt up monkeys, you know, their stories being out there. They were one of the first ones. And, and you're part of a big collection of 10 thousand people who you can network with or, or create that community with. And you can display it knowing that you have one of those crypto punks because they have that narrative and that story on that Launch. Or for example, Gary V is one which we went through. I could draw my own lunch lady bug and make my own NFT based on my own lunch lady bug. But it doesn't get me access to Vk on. It doesn't give me access to everyone else who bought one of those cards. So there's something that's not going to be about the work. It's, it's tough if you don't have any utility like that blood fish or you don't have a narrative or a story or demand for that actual piece of artwork. So then you want to go for something that is quite impressive. You know, something that's quite hard to actually create. And if we find something like this, so you can see here, Post Malone is, it's like a address, an ether address. It's like a web address up here, open see the IO or google.com. These things have utility because people can actually use it. But something that takes actual talent, piece of artwork like this guy up here. You can see, I know I couldn't recreate this. And they want $3,423 for it. And you can see that people are actually offering money for it. Now this guy probably has a following, his southern China figured out the ones that don't work and show you the shed, shine the light on 98% that might be can see he's got a verified collection. Is bumblebee growing a cool audience around it. It is quite unique and cool. That's why I clicked on it. And there's actually people offering him thousands of dollars for it. And you can see there's different types of him, Dan here. Once again, you don't want oversupply, but you want to make sure that you are doing something like that. Apes something that is unique and really talented. So I'm just gonna click on new here so we can see more of the stuff that's actually not working for people. Really low ask prices, you know, people don't want to display the stuff on their on their Ben stops that I want to have to buy a digital frames for this stuff just because it's not something that they resonate with. Some things like this. I interesting because like people do they, they're taking the pop culture and they making a thing. So if you follow a video game, you follow a TV show and you really resonate with it. Well, this looks like a LAN MUX. I am lux Elon Musk. If you resonate real and mosques, you might want to see him into digital gallery. You might want to post your photo of you holding on a physical framed NFT Elon Musk on online. The most of this stuff isn't going to be amazing artwork unless you really focus on your craft making what you love, making sure you focusing on building an audience around that. And the best way to do that is put out content and document your journey. And a third way is to make sure when you do go to launch any heavier and FT is ready, then you have utility and you're making it about the people that actually buying that, making sure that you're not just trying to drop an NFT on and move on to the next thing.
15. Updates On NFTs: G here, checking in from my kitchen. You may notice I have moved house since the original cost was filmed. And I want to add to this course because a lot has actually happened since I feel in the original part of this course. Lots of shifts in the outward and the NFT world, in the utility world and the price of some of this hour, because absolutely skyrocketed and you're going to be mind-blowing. But I want to bring to you all of these updates, you know, up to today exactly what's going on in this world. How you can start collecting your art, how you can start creating your art and supporting other creatives out there. Because this world is moving so quickly. So I have a very casual setup here. You can see it maybe in the reflection that of just a light, a microphone. And about five really awesome lectures to bring to you, just to bring you up to speed and have you confident, not in the world six months ago, but in the world today.
16. Different Blockchains: Awesome Psalm here on coin market cap. And this is basically a summary of all the biggest on this homepage at leaves or the biggest cryptocurrencies and blockchains out there. So the block chain, these are all different blood chains here. You can see the market cap is here. And it basically gives you all the basic information. And we don't really need to get too much into this financial side of things. But Bitcoin was obviously the original block chain. But Bitcoin didn't actually really have a good integration for smart contracts, which means they couldn't really mint and FTEs and ownership of tokens to its block chain. And this is where a theorem really separated itself. You could actually mean ownership tokens and this is where LFTs and Curia causes first crypto punks being second, started to mint artwork and ownership of the artwork to these block chains. Now, there's actually a problem with a theorem as well. And hence why a lot of these other things exist. They just trying to solve the problems that these popular ones don't currently or console or don't know how to solve. So a theorem, prices for gas. Now gas phase basically a transaction fee. So if you say go to the V friends website and you try and mint a V friend, and the friend might be $1000, but you may get a transaction or a gas v of thousands, if not hundreds of thousands of dollars in these peak times. Because basically people are bidding for you to process their transaction first. And these gas-phase get ridiculously high. And everybody's like, Well, this is not something that is sustainable. So this is where things like salon owner has come in now. So ANA has risen very recently. It's had a very big Bull Run or an appreciation of the value of the coin you can see here. And it's been quite phenomenal because so ANA has very, very little gas fees. And what people were actually doing is they're actually starting to mint their artwork to the salon and blockchain. Now you remember basically an NFT, it doesn't have to be on one block chain. It could be on the theory and blockchain could be on a salon, a block chain it could be on also the codon on block chain that Madonna, and if T is a very, very new, very, very nascent. But all of these people are coming in, all of these businesses or coins and blockchains are coming out with competing products to the Ethereum blockchain. So you can see codon is here, so Honors there. And there's a few others that are coming up and really want to own this NFT game. So basically I'm not making any recommendations here at theorem are trying to solve their gas price issues for LFTs. And if that happens at the urine will probably maintain them one. But I just want you to know if your minting artwork, if you're collecting artwork, you need to know that it's not all happening on the Ethereum blockchain anymore. Polygon is actually another big one that is also supported on open sea. So if we go to Open C and we go to its overall rankings up here, you can see the chain. So the chains on the block chains and the Ethereum blockchain is obviously the most popular, but you can start to see the most popular artwork on the polygon block chain. And you can see some of these are actually games because games you need to actually have a lot of transactions going on, not high priced. And it's funny that you measure that in theorem, but they're not crazy high price collectables, but the things that need to be transacted much quicker and the quickie Nina transact the less gas visa you want to pay. So a lot of people are building on top of things like polygon and salon. And now so make sure you go and check out those chains. If that's right for you, dementia, artwork there and make that decision yourself. But at the moment, if theorem still is that original number 1 first mover, and I think it's going to be hard to kick off. But please do your own research and see where you want to print your artwork.
17. Veefriends Update: Awesome. So the place we want to stop is exactly where we left off V friends. Now, some of the projects we talked about in the last update of this haven't done well. And others like V friends have absolutely skyrocketed. And I want to show you the differences of War II. So when you create your artwork or your collecting other people's artwork, you can pinpoint these differences and make sure you're not getting into it. Bad project, a launching a bad project, but launching something that you love and you're going to give value to. So the friends have a look at the current floor prices. Now, what is a floor price? The floor price is the cheapest piece of artwork in that collection. So for the core, which is the white backgrounds for guarantee, the cheapest price is 53 thousand US dollars, which is insane. And I'll show you exactly why it's this expensive. The most expensive for price. So the lowest bubblegum, which is this background here, just to make it really clear, the full price is the lowest price for that type of cod. So the lowest price you could get a bubblegum background for is a $196 thousand. Now, why is this basically guy? He says You need to bet on the jockey, not on the horse, so don't bet on the artwork. Like, it's very clear that this could be done by a preschooler. This artwork is very, very basic and I know art is in the eye of the beholder and I'm a big fan of Gary and his v friend collection. But I'm pretty sure he would admit that this is the most simplest art you could ever have. And there's a lot of other projects out there that people are spending hours and hours on this artwork, but not on the utility, not on actually the technology and giving value. And Gary V is out there doing to massive things. Let me show you. Very recently he announced that he's artwork, original, original V friend drawings are going to be auctioned at Christie's auction house. And if you don't have Christie's auction house, it was created in the late 17 hundreds. It's a world famous auction house for legit, Lynn and Vinci. Artwork was recently auction there a few years ago. I think it's called the Savior of the world. And it was sold to a sheikh for over $400 million, which is absolutely mind-blowing. But Christie's saw the bees is the other option, has a starting to get into the game of the 21st century. This is what we're telling you about. They have auctioned off and FTEs before and now they're auctioning off a V friends, five original VIF and drawings and not the actual Ve friends, but the actual drawings that guaranteed did. Now this is mind-blowing because the fact that the auctioning is so, so basic, but Garvey has done so well with the things that we talk about. He's built a massive audience who love him. He's given a lot of value. And he's really just focused on providing as much value as possible for his v friend holders is going at the connecting with people like Christie's now, what else has he done? Augustus, he hasn't created have Assad's avatars, was a, I don't know the guy's name. But what he's done is Gary has created this essential incubator for NFT is an artwork and you can use his resources if you give a claim pool to current V friend holders. Now, the fantastic thing about V friends and LFTs in that technology. Once you're in, there's no limit to the benefits that someone all the creator can actually give you. So there were 1700 of these Aristotle, this is what they look like here. You can see they're pretty basic, sort of OT as well. But a lot of people really, really love them and they do have a pretty decent following. But you can see the floor price of the service does is just on the point 2 8, which is about 6700 US dollars. So just by holding a V friend, you are able to go to the avatars website, connect your wallet, connect while at here, connected MetaMask up here. Once you sign in, it reads that you're in your VCE friend holder because you'll be friend. It's just sitting there in your actual wallet. And it's like, yes, congratulations, you are part of this exclusive or community where you hold a V friend. Therefore, we will let you meant an ABA stuff for free, create an Amistad, take it into your wallet for free. Just 6, $700, just for holding every friend. And then he can go sell UV friend and you sell it for more than you've actually paid for it. And it's a very phenomenal world where you're getting so much value way more than you've actually given, just buying it and things become costless and it's fantastic technology and I feel like Gary's done very, very well. You can see he's down here. We're on open scene. And he is this week the 12th most traded artwork. And this is a really cool tool. Open see the IO forward slash rankings, you can come in handy. You can just see what is the currently most traded artwork, what's popular at the moment. You can see this is a very, very popular brand or outward collection, caught up looks curated, which would be a really good one for you guys to come and check out. And you can see the full prices here. So you can see with the lowest prices and the highest price and just go into these outwards and see why are they so expensive? Why these are cheap? Why do people like this? And a lot of the time is going to come back down to the one. It was one of the first, hence, crypto pumps up, yeah, the second, Kierkegaard's being the first ever. And FT minted at that first NFT artwork mentality to the Ethereum blockchain. And what you wanna do is you can see that it was original. You can see that the community's phenomenal. You can see it has amazing utility, such as scary movies being tickets to his actual conference. And the other utility can see he's got people literally minting through his company and offering like Anastas. If you V friend holder, you're gonna get a grills gang for free. There'll be 555 of them if you go to that website and you actually connect your wallet and Min. So phenomenal utility is a really big reason. V friends is actually skyrocketed. And then community, it's everything we've been saying this entire time. The V friends community, this is on their Discord. They've got over a 100 thousand people in here all talking, helping each other out. And it's absolutely really active, which is massive. And you can see over here on Gary's message checkup. And you can see he's in here every single day helping people out, recommending other projects to people. It's just a phenomenal community and place a value and fuel looking at minting your own artwork. If you're looking at going and collecting other people's artwork, whether it be to appreciate, whether that be because you love the artwork. Look for community. Amazing jockey who has done phenomenal things for their community and they want to offer value over the long-term. Think about the technology here. We're in this unique phase where you can offer like Gary Vee, he's offering value to any of these V friends holders for the next 40 to 50 years. And he says, I don't want to stop until the coal price is valued at over a million dollars. Which is just a phenomenal mindset to have one that you could take in the short-term and be like, Cool, how do I copy that mindset? How do I offer so much value to anyone who hold my artwork that the artwork could be worth a million dollars one day.
18. BAYC Project: So one of the biggest things that's changed since the first edition of this course is NOTs have really started to become mainstream. So we're on the New Yorkers website here, very popular newspaper. And you can see it says, why bought a avatars, uh, taking over Twitter. Now you can see these are called the board ape Yacht Club. And obviously there's a code both apes inside the Yacht Club. And you can see that basically they sing, Everyone's got their profile photo on Twitter being one of these bought apes. Now, this is the official twitter of the board API or club. And this is a phenomenal piece of art cross with the manifest that has absolutely skyrocketed. And it's one that you really need to know about if you're going to get into this world and if you're going to create your own sort of stuff. So these are the boat apes now they, they do look really cool. You can see they also will auction at Christie's. Now these ones went for 24 million dollars at Christie's, which is absolutely phenomenal. I believe that with nine of them that went for 24 million. And there's something, you can see these are called the mutant apes, which I'll get onto in a second because it is a massive, massive sort of like innovation that they made on the NFT art world, Utility world as well. So these are the broad apes. They're very, very cool and this is their website over here. Now, what they're doing really well, It's something similar to what Gary did really well. They're offering ridiculous amounts of value, but they're also not telling you the value they're offering before they actually offer it. They all of a sudden drop something on you and it's massive and everyone's like, oh my god, this is incredible. How did I not get a boat ape? Because these both apes were available to mint for, I think like point to eat. And you can now see that they're at 418. So a $120 thousand for the cheapest bought ape. And I always like to down here on open sea and sought highest lost sale. So we can see what the most expensive LaSalle was because you get some phenomenal ones. You can see this went for 1748th, which is actually pretty ridiculous, ten days ago, to the sandbox game for $2.6 million, which is unreal. And I just wonder why this one, you can come down to the properties and you can see solid gold for laser eyes. So it's just a very rare ape and his cotton for millions of dollars, which is absolutely mind-blowing. Now, what I want to talk to you about those, not just how expensive these apes is, some of the utility that they've actually dropped. So the first one was bored a kennel club. Now I'm off to achieve search for this one, board ape, Candle, Candle club. Now, this is a spin off of board a Yacht Club by the original creators and similar to V friends, we could go and mint and Augusta. You could go and you could mint yourself. A kennel club dug that obviously has the same or similar features to the apes. Now, the floor press of these is 3.3. That's $12 thousand. Essentially that you could go and claim for free just by holding a baud 8. Now, if he thought that was interesting, you should see the next drop that they did for their outboard APR club holders. Now, if we go back to stats and we go to ranking, so we see all the projects at once. You can see tongues are blocks. So you've ever bought up your club is number 6 with a floor price of 35 IEP. That go down a little bit further. You can see there's mutant, your club. Now, what is mutant Yacht Club? Essentially, this is one of the coolest things that's happened in NFT art world. And this was being able to modify, being able to take your original NFT and add something to it in order to generate something fresh and new. And you can see what happened is you have your original ape. So we'll say, say you hold this API. What you do is you'd go to, I actually didn't get it the website day. Airdrop it to your wallet, meaning anyone who had a boat APR club ape in their wallet, they Ed, dropped serum or like a potion to their wallet. Now there were three types of serum that you could get. You could get a basic warm red A1 or an insanely rare one. And actually I'll pull it up for you because this is a phenomenal, It's actually look at, okay, so there's bought eight chemistry club and you can see this three items, M1, seven, M2M, and mega mutant cell. Now the phenomenal thing about this is m1 CRM is, was the basic CRM. So this 10 thousand books, apes say 9 thousand of and got M17. If you gave your ape and one CRM, it would transform it into an M1 ape. Now wouldn't transform the original artwork, but you would get an additional m1 like these ones as a new and FT. Just to, just to be clear, you've got your original ape. They dropped an M1 CRM and you merge them together. And you execute on, I don't exactly know how that worked, but you execute on the ape drinking the CRM and that new ape would be created, the serum would disappear. And you could sell that 8.5 for the meeting. Ayp for full 0.4 is the floor price of those mutant apes. Now, out of those 10000 people, about maybe 900 of them would have got the M2M, which is much more rare than M1. And the M2 mutant apes serum major ape, slightly more mutants that anymore cool and slightly more rare. So if you, you can see that the price of these M2M terms is still at about 35 thousand dollars and the M1 serums at about $10 thousand. The mega mutants, Sam and I don't actually know how many of these, there were originally four owners of them now, but only a few and it's all random. Few people who held those apes, a megameter Saron. And you can see that they sold for ridiculous amounts of money. 358th was the last sale 18 days ago. And if we just do a quick calculation, $1.2 million for something that was Ed dropped to people's wallets for free. So held your ape and nobody announces, bodega Club didn't announce, I'm going to do this. They add drop you this serum. And all of a sudden Twitter blows up with all these names. Everyone's applying it to their aid to get another AIP which is worth value, more value again. And then these mega newton sands are selling for over a million dollars. And then if you want to see the actual mega mutant apes, Omega, let me name. And then we'll sort by activity highest last sale. You can see these green backgrounds are the mega mutant apes, and you can see this one's for sale for 1408th. Last offer was 350, this one so for 335 eighth. So these are just the most rare apes that you can get because they had an ape. You can see this guy had 89209 and then he gave it Mega Newtons harem for $1.2 million. And he created this. And remember, he's still holds is original ape. So takeaways from this, this is very, very high level in the NFT world, but we have to understand is how you can continue to add onto your original artwork, to transform your original artwork and to really create hype. You know, this was massively trending on Twitter when it happened because everyone's feeding the ape, this mutant Sarah, and getting a brand new ape with $10 thousand on that. This is the most phenomenal thing ever. And the full price rises on your original artwork. So I just wanted to catch you up. Again. This is very advanced if you can do something like this, absolutely phenomenal, but just having a new brain and think, how can I innovate on my original artwork holders? How can I continue to add value to this? Because this is definitely a long game. Awesome. So I'm here on coin market cap. And this is basically a, a summary of all the biggest on this homepage, at least all the biggest cryptocurrencies and blockchains out there. So the block chain, these are all different blood chains here. You can see the market cap is here and it basically gives you all the basic information. And we didn't really need to get too much into this financial side of things. But Bitcoin was obviously the original block chain. But Bitcoin didn't actually really have a good integration for smart contracts, which means they couldn't really mint and FTEs and ownership of tokens to its block chain. And this is where a theorem really separated itself. You could actually mean ownership tokens and this is where NF, T's and Curia causes first crypto punks being second, started to mint artwork and ownership of the artwork to these blockchains. Now, there's actually a problem with a theorem as well. And hence why a lot of these other things exist. They just trying to solve the problems that these popular ones don't currently or console or don't know how to solve. So a theorem, prices for gas. Now gas phase basically a transaction fee. So if you say go to the V friends website and you try and mint a V friend, and the friend might be $1000, but you may get a transaction or a gas v of thousands, if not hundreds of thousands of dollars in these peak times. Because basically people are bidding for you to process their transaction first. And these gas-phase get ridiculously high. And everybody's like, Well, this is not something that is sustainable. So this is where things like salon or has come in. Now Salama has risen very recently. It's had a very big Bull Run or an appreciation of the value of the coin you can see here. And it's been quite phenomenal because so ANA has very, very little gas fees. And what people were actually doing is they're actually starting to mint their artwork to the salon and block chain. Now you remember basically an NFT, it doesn't have to be on one block chain. It could be on the theory and blockchain could be on a salon, a block chain it could be on also the codon on block chain that Madonna, and if T is a very, very new, very, very nascent. But all of these people are coming in, all of these businesses or coins and blockchains are coming out with competing products to the Ethereum blockchain. So you can see can Jana's here, so Honors there. And there's a few others that are coming up and really want to own this NFT game. So basically I'm not making any recommendations here at theorem are trying to solve their gas price issues for LFTs. And if that happens at the urine will probably maintain them one. But I just want you to know if your minting artwork, if you're collecting artwork, you need to know that it's not all happening on the Ethereum blockchain anymore. Polygon is actually another big one that is also supported on open sea. So if we go to Open C and we go to its overall rankings up here, you can see the chain, so the chains on the block chains. And if the rainbow chain is obviously the most popular, but you can start to see the most popular artwork on the polygon block chain. And you can see some of these are actually games because games you need to actually have a lot of transactions going on, not high priced. And it's funny that she measure that in theory, but they're not crazy high price collectables, but the things that need to be transacted much quicker. And the quickie Nina transact the less gas visa you want to pay. So a lot of people are building on top of things like polygon and salon. And now so make sure you go and check out those chains. If that's right for you, dementia, artwork there and make that decision yourself. But at the moment, if theorem still is that original number 1 first mover, and I think it's gonna be hard to kick off. But please do your own research and see where you want to print your artwork.
19. Next Steps…: Awesome, So I hope you enjoyed that journey as much as I did. It was a real pleasure being able to explain this from my perspective and my point of view, if you enjoyed what you'd like, I have a couple of last minute requests that will benefit both of us. One will benefit only me. But if you could pretty please leave a review on this class for me. It really helps me understand what you got from it on the stand and what you enjoyed it. It makes me my classes in the future better and more tailored for your needs. So I guess it does benefit both of us. The second thing, make sure you come and follow us on YouTube. We have daily or close to daily videos going out around content that is massively helpful for building your brand or launching a NFT projects and really starting to support yourself as an artist. I'm excited. I post frequently over there, so I'm excited to see you join us over there. And thirdly, go into our Skillshare profile and find what course connects with you. Next, we've got a lot more NFT content coming out. We have a lot of social media content coming out and all of this stuff will help you as an artist on your journey. So pretty please go and join me in the next course so we can have another adventure together. Thank you so much. I hope you learned a lot looking forward to connecting with you again very soon.
Benji Wilson, Social Media & Entrepreneurship
