Welcome to Marketing School, the only podcast that provides daily top level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach. Let's start leveling up your marketing knowledge with your instructors, Neil Patel and Eric Sue. All Right, guys, before we start, we got a special message from our sponsor. If you want to rank higher on Google, you got to look at your page speed time. The faster website loads, the better off you are with Google's Core Vital update. That makes it super super important to optimize your site for low time, and one easy way to do it is use the host that Eric and I use, dream Hosts, So just go to dream host or Google it, find it, check it out, and it's a great way to improve your low time a Marketing School listeners, This is an excerpt from the Growth Accelerator Miami that we did in twenty twenty one, and we've talked about these events over and over and we thought we'd give you a little preview to get a sense of what it actually looks like. So check it out. One theme I'm seeing with your story is timing right. So business most important thing is timing. It seems like you you started this with crypto kitties, right, you start to really work on this and then timing was perfect for this one. Can you speak to how you've learned what you've learned about timing over the years, because in some cases you missed, in some cases you really hit it, but in this case you got it like spot on. Yeah, I think it's conviction, but also like evolving. The NFT og is definitely dapper labs from Crypto Kitty to NBA top shot and Crypto Hitty was stalled out very early on because if theorem throughput was just like it was taking up ninety percent of the processing on your theorem. Can you explain what kitties are? So crypto Kitty was the first example. So NFTs is just basically a technology that can digitally authenticate anything. It's easier to digital authenticate, like a digital item. So Crypto Kitty is this this game that was developing twenty seventeen. This is a game where an NFT is represented by like a unique cat. Right, so the AI just generates this cat. It can breed with other cats, right, So you put two NFT together. It became a new NFT, and it's all randomized and there's probability involved, so it's actually a game. And then if you get a super rare cat, you can sell it to other people in the game for like more eth So that was like super popular, and like the first example of okay, like every cat is super unique, and it's recorded on the blockchain and it can never be changed, and there's a probability gamification element where I can get a super rare cat, and then there's a marketplace where like other people want this cat, can buy this cat from me, and there's a digital currency that can be transacted. I can make money on this like digital record, unique record. I want to talk about the business implications around NFTs, but with one of you guys have raised probably one of the bigger seed rounds. I've seen sixty five billion dollars and money's being put to good use right now, I'm sure. So can you speak to the implications around NFTs right now and how businesses can use them practically? And I'll give you one example. Last week at dinner, I was sitting next to got It used to work for me. Now he's Gary V's brand directories. Oh we for Gary V's new book that's coming out next month. For if you buy twelve books, we'll give you one NFT and they sold a million copies of the book so far, So that's a really practical business application. So if you have any examples, that'd be great too. But if you want to speak to it, feel free. Yeah, I want to talk a little bit about the evolution of like NFTs can be anything, right, So just take that away for right now. Right. It doesn't have to be cat. It doesn't have to be just art. So if you're not like a three D artist, or if you don't have a famous YouTube meme like it totally can still apply to your business. We basically thought about the way the first wave was like crypto Kiddies and NBA Top Shots, which is game of NFTs, which is cool. So the sports car collectors already understand that behavior of opening a pack getting a few random cards in this case is digital cards that's represented by NFTs, and some of them are rare, so there's a chance for you to get something that's very valuable you can resell it. So the second iteration was like art. It proliferated with art because previous to this digital artwork is impossible to authenticate. You can just write, click and copy the jpeg. Now with NFTs, you can write. And digital artist has been starving for this, so we basically did like the third way, which is music right, music is rights is more complicated. There's a piece of digital art, there's usually one creator, so you can just get that person to sign over their rights to the owner and then you're good. Digital music, it's every song. There's especially songs these days, there's fourteen samples and eight different producers and I wrote the word to this and that, and there's twenty two rights holders. So we basically using botching technology to to manage that better. Now the next wave is really brand Gary Vee is like way ahead on this. So Vayner is consulting with Anheuser Bush and like Pepsi and tons of major companies. Some have launched the project, yet has not. If you think about like, NFTs is really about community, So this is how you should think about So NFTs is not about selling a piece of media or a piece of song music, It's about like how the community identity belongs. So if you think about passion points, people love our people love music, people love sports, that's why these kind of these areas proliferated already. People also love brands, right, everyone's brands here are loved by your community, So now what can you do with that? So NFTs is just the way of like really rewarding your most loyal customers. And there's two things. One is rewarding your most royal customers identify who they are so you can can actually build a direct relationship ongoing with them, which is kind of cliche. But like the second thing, which has never happened before, is NFT is a way for your customers, for your most royal community members to participate in your success. So if you think about the example in music, which can apply to brands and everything else too, like everything a musician do and everything a brands do up to this point is like a one way street. Pay me, I'll give you a concert experience, pay me by my ticket, I'll give you my album, listen to my streaming, like pay for all these services and you get like a great experience or a product that you can use for a while, and then it's done and you had to pay me again for the next thing I'm going to do. So NFT changes that dynamic empty basic is can I envision a longer term relationship where this is that artists can say this is like lifetime ticket to my concert, right for as long as don't Jack Cat and say or less like say we're doing a lesser drop right now, Doja Cat and all these artists again say hey, by this NFT ticket, it represents like a pair of tickets to every concert I'm ever going to. And then somebody like can pay like one hundred thousand dollars a million dollar for or whatever. And you now two things right, One you identify that's your biggest customer. That's somebody that I'll bit someone or that's willing to pay a premium for the same product for the same product everybody else is doing. And then they're paying ahead of time. But but what's interesting, like if they support your brand, they support this artist, and an artist gets more more famous, doja is gonna win multiple Grammys In the next Grammy, You're going to be even bigger. And at some point you're going to be like, I am so tired of going to dojacat concer or I'm just too busy. I can sell the NFT, I can sell the MPT for probably more than what I paid for. Because of my support and patronage, the brand and the artists got stronger. Now you're participating. You never were able to participate in the brand success before other than like buying stock, but that doesn't really work for private companies. This is a way for your customer to actually participate in your success, and they become your biggest advocates, right, Like the people that bought the Dojaka NFT on our platform, that bought a lesser NFT on our platform are like out there telling everyone why this is the greatest artist ever. So you basically now have gotten yourself like ten twenty thousand passionate ambassadors that are rewarded by not you don't have to pay them anymore. They paid you to like be your biggest advocate, and then they are rewarded monetarily when they sell their entpties. All right, So I hope you enjoyed the excerpt from the Growth Accelerator of Miami and now you have a sense of what it looks like. So if you want to learn more about it and how to actually be a part of the event where there are seven to nine figure founders and investors, hanging out, sharing tactics, collaborating with each other. Go to Marketing School the ioslash life. That's Ave and you can apply there and we'll catch you later. We appreciate you joining us for this session of marketing School. Be sure to rate, review, and subscribe to the show and visit marketingschool dot io for more resources based on today's topic, as well as access to more episodes that will help you find true marketing success. That's marketingschool dot io until next time. Class dismissed

Welcome to Marketing School, the only podcast that provides daily top level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach. Let's start leveling up your marketing knowledge with your instructors, Neil Patel and Eric Sue. All Right, guys, before we start, we got a special message from our sponsor. If you want to rank higher on Google, you got to look at your page speed time. The faster website loads, the better off you are with Google's Core Vital update. That makes it super super important to optimize your site for low time, and one easy way to do it is use the host that Eric and I use, dream Hosts, So just go to dream host or Google it, find it, check it out, and it's a great way to improve your low time a Marketing School listeners, This is an excerpt from the Growth Accelerator Miami that we did in twenty twenty one, and we've talked about these events over and over and we thought we'd give you a little preview to get a sense of what it actually looks like. So check it out. One theme I'm seeing with your story is timing right. So business most important thing is timing. It seems like you you started this with crypto kitties, right, you start to really work on this and then timing was perfect for this one. Can you speak to how you've learned what you've learned about timing over the years, because in some cases you missed, in some cases you really hit it, but in this case you got it like spot on. Yeah, I think it's conviction, but also like evolving. The NFT og is definitely dapper labs from Crypto Kitty to NBA top shot and Crypto Hitty was stalled out very early on because if theorem throughput was just like it was taking up ninety percent of the processing on your theorem. Can you explain what kitties are? So crypto Kitty was the first example. So NFTs is just basically a technology that can digitally authenticate anything. It's easier to digital authenticate, like a digital item. So Crypto Kitty is this this game that was developing twenty seventeen. This is a game where an NFT is represented by like a unique cat. Right, so the AI just generates this cat. It can breed with other cats, right, So you put two NFT together. It became a new NFT, and it's all randomized and there's probability involved, so it's actually a game. And then if you get a super rare cat, you can sell it to other people in the game for like more eth So that was like super popular, and like the first example of okay, like every cat is super unique, and it's recorded on the blockchain and it can never be changed, and there's a probability gamification element where I can get a super rare cat, and then there's a marketplace where like other people want this cat, can buy this cat from me, and there's a digital currency that can be transacted. I can make money on this like digital record, unique record. I want to talk about the business implications around NFTs, but with one of you guys have raised probably one of the bigger seed rounds. I've seen sixty five billion dollars and money's being put to good use right now, I'm sure. So can you speak to the implications around NFTs right now and how businesses can use them practically? And I'll give you one example. Last week at dinner, I was sitting next to got It used to work for me. Now he's Gary V's brand directories. Oh we for Gary V's new book that's coming out next month. For if you buy twelve books, we'll give you one NFT and they sold a million copies of the book so far, So that's a really practical business application. So if you have any examples, that'd be great too. But if you want to speak to it, feel free. Yeah, I want to talk a little bit about the evolution of like NFTs can be anything, right, So just take that away for right now. Right. It doesn't have to be cat. It doesn't have to be just art. So if you're not like a three D artist, or if you don't have a famous YouTube meme like it totally can still apply to your business. We basically thought about the way the first wave was like crypto Kiddies and NBA Top Shots, which is game of NFTs, which is cool. So the sports car collectors already understand that behavior of opening a pack getting a few random cards in this case is digital cards that's represented by NFTs, and some of them are rare, so there's a chance for you to get something that's very valuable you can resell it. So the second iteration was like art. It proliferated with art because previous to this digital artwork is impossible to authenticate. You can just write, click and copy the jpeg. Now with NFTs, you can write. And digital artist has been starving for this, so we basically did like the third way, which is music right, music is rights is more complicated. There's a piece of digital art, there's usually one creator, so you can just get that person to sign over their rights to the owner and then you're good. Digital music, it's every song. There's especially songs these days, there's fourteen samples and eight different producers and I wrote the word to this and that, and there's twenty two rights holders. So we basically using botching technology to to manage that better. Now the next wave is really brand Gary Vee is like way ahead on this. So Vayner is consulting with Anheuser Bush and like Pepsi and tons of major companies. Some have launched the project, yet has not. If you think about like, NFTs is really about community, So this is how you should think about So NFTs is not about selling a piece of media or a piece of song music, It's about like how the community identity belongs. So if you think about passion points, people love our people love music, people love sports, that's why these kind of these areas proliferated already. People also love brands, right, everyone's brands here are loved by your community, So now what can you do with that? So NFTs is just the way of like really rewarding your most loyal customers. And there's two things. One is rewarding your most royal customers identify who they are so you can can actually build a direct relationship ongoing with them, which is kind of cliche. But like the second thing, which has never happened before, is NFT is a way for your customers, for your most royal community members to participate in your success. So if you think about the example in music, which can apply to brands and everything else too, like everything a musician do and everything a brands do up to this point is like a one way street. Pay me, I'll give you a concert experience, pay me by my ticket, I'll give you my album, listen to my streaming, like pay for all these services and you get like a great experience or a product that you can use for a while, and then it's done and you had to pay me again for the next thing I'm going to do. So NFT changes that dynamic empty basic is can I envision a longer term relationship where this is that artists can say this is like lifetime ticket to my concert, right for as long as don't Jack Cat and say or less like say we're doing a lesser drop right now, Doja Cat and all these artists again say hey, by this NFT ticket, it represents like a pair of tickets to every concert I'm ever going to. And then somebody like can pay like one hundred thousand dollars a million dollar for or whatever. And you now two things right, One you identify that's your biggest customer. That's somebody that I'll bit someone or that's willing to pay a premium for the same product for the same product everybody else is doing. And then they're paying ahead of time. But but what's interesting, like if they support your brand, they support this artist, and an artist gets more more famous, doja is gonna win multiple Grammys In the next Grammy, You're going to be even bigger. And at some point you're going to be like, I am so tired of going to dojacat concer or I'm just too busy. I can sell the NFT, I can sell the MPT for probably more than what I paid for. Because of my support and patronage, the brand and the artists got stronger. Now you're participating. You never were able to participate in the brand success before other than like buying stock, but that doesn't really work for private companies. This is a way for your customer to actually participate in your success, and they become your biggest advocates, right, Like the people that bought the Dojaka NFT on our platform, that bought a lesser NFT on our platform are like out there telling everyone why this is the greatest artist ever. So you basically now have gotten yourself like ten twenty thousand passionate ambassadors that are rewarded by not you don't have to pay them anymore. They paid you to like be your biggest advocate, and then they are rewarded monetarily when they sell their entpties. All right, So I hope you enjoyed the excerpt from the Growth Accelerator of Miami and now you have a sense of what it looks like. So if you want to learn more about it and how to actually be a part of the event where there are seven to nine figure founders and investors, hanging out, sharing tactics, collaborating with each other. Go to Marketing School the ioslash life. That's Ave and you can apply there and we'll catch you later. We appreciate you joining us for this session of marketing School. Be sure to rate, review, and subscribe to the show and visit marketingschool dot io for more resources based on today's topic, as well as access to more episodes that will help you find true marketing success. That's marketingschool dot io until next time. Class dismissed