Understanding Crypto – Détails, épisodes et analyse

In this special replay episode of Business Marriage, we revisit our conversation with Rob Dyrdek, a former professional skateboarder turned investor and vision-board enthusiast. Rob shares his journey of manifesting his dream home—what he refers to as his "forever estate." 

This episode offers a deep dive into the principles of visioning and goal-setting that have guided Rob's successful career across various ventures.

What You’ll Learn:

• The Concept of Forever Estates; Rob details his journey from purchasing a plot of land to envisioning and manifesting a home designed to serve his family for generations.

• Investing with Vision; Insights into Rob’s strategic financial decisions and the sacrifices he made to secure a future for his family’s legacy.

• The Power of Vision Boards; How Rob uses vision boards and manifesting to turn abstract dreams into concrete realities.

• Overcoming Challenges: Rob discusses the hurdles he faced, such as securing planning permissions and the financial risks involved in his investments.

This episode highlights the transformative power of visioning and investing in your dreams. Rob's story is a testament to the impact of dedication, strategic planning, and manifesting in achieving life-altering goals!

Get involved with the show via https://www.businessmarriagepod.com/ or if you think James should retire from podcasting, you can email us at hello@businessmarriagepod.com!

Check out Hayley’s business at https://www.orangelamb.co.uk/

This podcast is produced by Phonic Media https://www.phonic.media

Business Marriage is the non-celebrity couple podcast that brings you the real and honest conversations that couples all over the world are having about life, family, work and everything in between. Entrepreneur husband and wife James and Hayley Burtt run their own separate businesses, so each week the pair take the opportunity to sit down and openly (sometimes too openly!) share what it is really like to juggle running a company, raising a family and (trying) to find time to keep your partner happy too!  Expect arguments, laughs and even some useful lessons, plus listeners get to join in this interactive show by contributing their ‘partner battles’, 'share the love' mentions and even get to give date-night suggestions!

00:01 The power of Manifesting and goal-setting 

04:31 How Rob Dyrdek - entrepreneur, investor, and TV personality - used the power of Manifesting to break ground on his dream house Forever Estates 

11:45 Prioritizing balance in life and business for a successful marriage and personal growth

16:48 Tracking and measuring personal growth through consistent self-reflection and intentional actions

23:58 Tracking time and prioritizing family and health

27:41 Prioritizing family and personal time in a changing world

31:49 Prioritizing life balance and harmony through rhythm and flow

39:23 Building a legacy through business and real estate investments

44:49 How Rob Dyrdek views personal growth and self-improvement

49:07 How Rob Drydek uses data to proritize self-care and family time

54:38 Planning for the future and delayed gratification

In this episode of Understanding Crypto, Paul and James tug the thread of the FTX saga, which is fast-becoming stranger than fiction! 

THIS EPISODE IS SPONSORED BY CRYPTO FOX MINERS CLUB
https://www.cfmc.io/

Sam Bankman-Fried also known by his initials SBF, is an American entrepreneur, investor and founder and former CEO of the cryptocurrency exchange FTX, FTX.US and quantitative cryptocurrency trading firm Alameda Research.

But his Wikipedia bio only tells some of the story as SBF might well have been the mastermind behind the world’s biggest ever pump and dump scheme (allegedly… feel like we write that for this episode!) 

The FTX situation, which looks to have been a multi-BILLION dollar fraud has resulted in pretty much the whole financial world calling for regulations and protections to be put into place after a handful of key members of FTX (and their stakeholder partners) being able to collapse what was once the second biggest exchange by volume. 

Understanding Crypto is the podcast created to help you work out what is happening in the world of Web 3.0 and the impact this digital revolution could make to your brand, business and life.

In this show, your hosts Paul Abercrombie and James Burtt will be discussing, distilling and massively simplifying subjects such as how blockchain works, what is metaverse real estate all about, what are you actually buying when you purchase an NFT, how do DOA's work, which direction is Bitcoin heading in, how to use a digital wallet, what steps you need to take to onramp from fiat currency into digital assets and lots, lots more.

Plus, via specific episodes of the podcast, Paul and James will actually pull back the iron curtain to share what on-chain projects they are involved with and document - in real time - the processes they grow and go through in order to make Web 3.0 as valuable for real-world real-time businesses and brands as possible.

CONNECT WITH PAUL 

CONNECT WITH JAMES 


CHECK OUT THE LATEST WEB3 PROJECT FROM THE UNDERSTANDING CRYPTO TEAM VIA https://www.cfmc.io/

** Nothing in this show should be considered financial advice - all content is for entertainment purposes only. The opinions of the individuals featured on this show do not reflect the opinions, views or thoughts of the company **

In this episode of Understanding Crypto, James tells you how you can get verified on Twitter using your NFT.

Getting verified on Twitter in the traditional way can be a huge pain for even the most famous of people. With Twitter Blue, the latest update from the app, you can connect your Crypto Wallet to link your NFT to your profile.

James walks you through the process step by step, as well as explaining the benefits of this new update for undoxxed founders in NFT projects.

In the show you will learn:

• What an undoxxed founder is
• The conditions of getting verified on Twitter
• How you get verified on Twitter
• How to connect your crypto wallet to Twitter

Understanding Crypto is the podcast created to help you work out what is happening in the world of Web 3.0 and the impact this digital revolution could make to your brand, business and life.

In this show your hosts Paul Abercrombie and James Burtt will be discussing, distilling and massively simplifying subjects such as how blockchain works, what is metaverse real estate all about, what are you actually buying when you purchase an NFT, how do DOA's work, which direction is Bitcoin heading in, how to use a digital wallet, what steps you need to take to onramp from fiat currency into digital assets and lots, lots more.

Plus, via specific episodes of the podcast, Paul and James will actually pull back the iron curtain to share what on-chain projects they are involved with and document - in real time - the processes they grow and go through in order to make Web 3.0 as valuable for real-world realtime businesses and brands as possible.

CONNECT WITH PAUL 

CONNECT WITH JAMES 

CHECK OUT THE LATEST WEB3 PROJECT FROM THE UNDERSTANDING CRYPTO TEAM VIA https://tinyurl.com/understandingcryptoproject

On this week's episode of Understanding Crypto, Jolyon Layard Horsfall, the CEO and CFO of Sparkworld, chats with James Burtt. Jolyon discusses the development and sustainability of Fair Predictions Launches (PFL), a gamification suite that assures that users receive equal opportunities to purchase NFTs. They also discuss using staking and the white list to ensure quality participation through price and effort discrimination.

SparkWorld

Jolyon describes Sparkworld as "a full-service launch pad and marketplace aggregator focused on innovation, community, and engagement." The company's primary goal is to raise money for NFT initiatives through crowdsourcing. James commends the company's contribution to equality within an NFT-focused community. Jolyon laments that in current Web3 launches, "Bots are coming in and scooping up all of the initial distribution of the NFTs. Then they're getting sold or manipulated on the secondary market, and that's bad for the project." 

James talks about Sparkworld's development and usage of Fair Prediction Launching (FPL), a gamification process, which is essentially a suite of tools that guarantees that customers are given the same opportunities to purchase NFTs. The Fair Prediction Launch (FPL) ensures equity and transparency because all predictions are stored and shared on the blockchain. “If you use a prediction event, you might predict the price of Bitcoin in three days, the closest 500 predictions get on the white list. We're being transparent and it's a fair process." [Listen from 2:53]

Changing Direction

Jolyon is a trained accountant and as early as 2013, recognized the viability of the cryptocurrency market. He left his accounting practice to concentrate on the web3 industry. "I saw some of these projects that were being made and I thought I could write a white paper and token economy better. Not because I was good, but because some were really bad." He ultimately chose to focus his time and energy on designing tools to enhance the NFT community. The creation of FPLs by StackWorld offers members a more inclusive option where incentives are based on participation, with the size of the investment determining the return. [Listen from 8:51]

Avalanche

Jolyon and his team at Sparkworld selected Avalanche, an open-sourced decentralized blockchain platform, to host their blockchain. He explains that this platform provides a more energy-efficient option that is also EVM compatible, enabling the use of MetaMask. Avalanche also won their approval because it addresses the three key problems of scalability, decentralization, and security, as well as its superior potential for implementing novel approaches to achieving these solutions. For Jolyon, his company would become a dominant player in the Avalanche ecosystem, a reward for their early adoption. He and James discuss using the white list, a method that many NFT communities are using to pre-select their communities. They agree that it can ensure the success of any NFT project. [Listen from 19:04]

The Way Forward 

The Hydro Whales Mining Club, which reflect the real principles of the decentralized web, have held Jolyon’s interest. It's very transparent, he says! Additionally, he is impressed by the creators' participation in the Discord server and their work on upgradeable NFTs, which he views as a promising prospect. [Listen from 29:48]

Key Takeaways:

• Fair Prediction Launches or FPLs are a suite of tools that guarantee that all community members are given equal opportunities to purchase NFTs.

Resources

James Burtt on Twitter | LinkedIn | Instagram | Clubhouse

Paul Abercrombie on Website | Twitter | LinkedIn | Instagram

In this episode of Understanding Crypto you will learn about the different tools you can use to explore and learn more about the world of crypto and Web 3.0.

The world of Web 3.0 can be hard to get into without knowing the best tools to use to explore it and keep safe care of your crypto and NFT assets. 

Paul talks about the best marketplaces for buying and selling your NFTs, like Opensea. He explains why Coinbase is his preferred exchange site and why using Metamask to access your crypto wallet is helpful. Those who want to know how much they will be taxed on their crypto are shown why Koinly.io is the best place to go, and how the explorer sites Etherscan, Solscan and Blockchain Explorer serve their purpose. The newsletter TheBlock.co also gets spoken about, as well as Steven Barlett’s Thirdweb, and Rally.io.

Understanding Crypto is not affiliated with any of the apps, sites and projects spoken about in today’s podcast.

In the show you will learn: 

• Which NFT marketplaces are the best to use
• How different blockchain explorers serve their purpose
• The most helpful apps to mint your coins on
• Which newsletters will teach you more about crypto

Understanding Crypto is the podcast created to help you work out what is happening in the world of Web 3.0 and the impact this digital revolution could make to your brand, business and life.

In this show, your hosts Paul Abercrombie and James Burtt will be discussing, distilling and massively simplifying subjects such as how blockchain works, what is metaverse real estate all about, what are you actually buying when you purchase an NFT, how do DOA's work, which direction is Bitcoin heading in, how to use a digital wallet, what steps you need to take to onramp from fiat currency into digital assets and lots, lots more.

Plus, via specific episodes of the podcast, Paul and James will actually pull back the iron curtain to share what on-chain projects they are involved with and document - in real time - the processes they grow and go through in order to make Web 3.0 as valuable for real-world real-time businesses and brands as possible.

CONNECT WITH PAUL 

CONNECT WITH JAMES 

CHECK OUT THE LATEST WEB3 PROJECT FROM THE UNDERSTANDING CRYPTO TEAM VIA https://tinyurl.com/understandingcryptoproject

In this episode of Understanding Crypto with James Burtt and Paul Abercrombie, they discuss NFT use cases to prevent counterfeiting and protect commercial supply chains. Both James and Paul agree that corporate NFTs are the business model of the future. James contends that the current system, with all of its inefficiencies, continues to benefit the corporate world. However, Paul maintains that blockchain technology can help with a number of time-consuming processes.

NFTs to the rescue!!

Counterfeiting is a major product-based infringement which can be remedied by blockchain technology. There are many NFT use cases that can ensure that business supply chains are not compromised. Paul reminds listeners, "NFTs are not just about speculative profit, it's about solving a real-world problem using the functions of a smart contract." Presently, some companies are pioneering this real-world functionality by using NFTs to track and verify the authenticity of the parts before assembly. Paul adds, "You will find a world where your normal financial environment will contain not just your bank account but your crypto assets and your digital assets in one place." [Listen from 3:05]

These NFTs, referred to as corporate NFTs in the business world, are intended to replace the continuous paper trail that historically accompanied corporate financial transactions. James says that he agrees with this move because "It's probably five or six different handover points and everyone is using a different system. When you think about it, they’re actually relying on trust." However, there are frequent violations of trust in the high-stress fields of motor, aviation, and marine sports that make supply chain management very challenging. As a result, the use of counterfeit parts is widespread. They both argue that this can be changed. However, the majority of people generally view NFTs as investments, even though they have several real-world applications that could help the industry. [Listen from 8:45]

If business owners are able to use NFTs in innovative ways, James believes that they can shift the language surrounding the technology. On the other hand, Paul presents an opposing view that explores the resistance to the technology because the current system continues to be profitable for the corporate world. Using the construction industry as an example, he explains that many time-consuming practices can be solved with blockchain technology, but the old system pervades. Both Paul and James agree that corporate NFTs  are the future. "With non-sexy use cases of NFTs, you're not going to make a million quid by buying one of them, but it actually solves problems." [Listen from 16:48] 

Key Takeaways

• Corporate NFTs are the business model of the future.

Resources

James Burtt on Twitter | LinkedIn | Instagram | Clubhouse

Paul Abercrombie on Website | Twitter | LinkedIn | Instagram

In this episode of Understanding Crypto, James Burtt chats with Gianina Skarlett, founder of Crypto Tech Women. She shares her journey from humble beginnings to the CEO of a successful tech company. They discuss her recent success with the Crypto Tech Women NFT initiative, which was minted in February 2022 and was fully sold out in less than 24 hours. They also chat about the methods she used to pique and sustain enthusiasm for  the project.

The Journey

Gianina describes herself as a software engineer from Venezuela with a background in management. Although she always had a deep enthusiasm for coding, educational opportunities along that career path were limited in her native country. She eventually relocated to California and took part in Cryptozombie.io, a basic coding course specialising in Solidity contract coding. Successfully completing the training led her to a career in technology. Yet the more she coded and worked within the web3 space, the more she understood the value of representation. “Representation matters. That's why I'm here. So many other women who are part of the web3 space put themselves out there every day. Because if there's no representation how will others know that it's possible or doable or achievable?”  [Listen from 2:34]

Gianina's desire to start an NFT project was first supported and encouraged by her friends, and this inspired the development of Gigi Codes, which then evolved into Crypto Tech Women. She outlines the complex procedures involved in starting the project, including the development of websites and social media platforms. Through her research she learned about generative art and used this technology to make the 8,888 NFTs for the platform that sold out in 24 hours. This success only came after developing a community and a social media presence. Her ultimate goal, which is to fill the web3 space with knowledgeable users, builders, and creators, has remained constant throughout. James says that, as an investor in the program, he is consistently astounded by the quality and frequency of programs and events. [Listen from: 11:38]

Marketing Strategies and More

James asks about the marketing strategy she employed that enabled her NFTs to sell out in a few hours. Gianina emphasises that it was mostly dedication and in-depth research. She explains that she was only able to develop an NFT project that was well embraced by a community because she invested time in understanding her audience and assuring that they were genuinely engaged. "You cannot start talking into a void. You have to start finding channels that are willing to listen or start hosting other people." Although her first public speaking engagements were nerve-wracking, she quickly saw the value of the opportunity. "I want to empower the women in web3 and I want to bring them on. They are definitely a minority who are left behind." On social media, she searched for other women who shared her interests and focused her attention on building connections—a tactic that quickly became essential to her success. James concurs, pointing out that one of the best things about web3 is that the community tries to be inclusive because real-world identities are typically meaningless. He tells Gianina, "The reason you’ve been so successful in such a short period of time is because you were a willing novice, while there are so many people posturing themselves as ‘experts’.” [Listen from 21:39]

What makes a successful NFTs launch?

There are significant factors, in Gianina's opinion, that might determine a project's success or failure. As an investor and creator, she views validating social media platforms as an essential research activity. She advises that developers should not view the number of followers a project has as a true indication of community engagement. She points out, "We didn’t even have more than 10,000 and we were sold out. We did have a very engaged community…” Before minting the NFTs, she thinks creators should spend some time cultivating a community that cares about the project; this is vital to guarantee that the product sells out. Successful NFT launches can usually be predicted by an active, real-world community on social media or on a Discord server. [Listen from 29:42].

The Way Forward 

Gianina is eager to devote the majority of her time to expanding the CTW project. She wants to add other broad fields of study to the present educational platform, which currently focuses on web3. Her goal is to establish a single information hub that would cater to those who have a keen interest in learning more. Investors can already access past, present, and upcoming Masterclasses in addition to several bootcamps and events through the Crypto Tech Woman NFT. She is adamant, nevertheless, that education is her main objective. “I really love my mission and I'm really passionate about education. It's something that I've always said can unlock life opportunities for anyone out there.”  [Listen from 35:25]

Key Takeaways

• Before launching an NFT project, a developer's main goal should be to create a supportive community.
• Women who are represented feel more confident participating in web3.

Resources

James Burtt on Twitter | LinkedIn | Instagram | Clubhouse

Paul Abercrombie on Website | Twitter | LinkedIn | Instagram 

Gianina Skarlett on LinkedIn

Crypto Tech Women

In this week's episode of Understanding Crypto, Paul Abercrombie and James Burtt discuss Minecraft’s and Microsoft’s decision to reject adding NFTs to their platforms. In an official statement, the company explained that "NFTs take the focus away from playing the game and encourage profiteering, which we think is inconsistent with the long term joy and success of our players." Both Paul and James think that the statement is just one company's decision, not the death of NFTs as stated by the media.

Rejection or Reinvention?

The integration of NFTs into Minecraft and Microsoft's platforms has been rejected. According to the official statement by the company, "NFTs take the focus away from playing the game and encourage profiteering, which we think is inconsistent with the long-term joy and success of our players." Paul responds to this claim by highlighting Minecraft’s current practice, which encourages users to participate in comparable consumer behaviours, specifically the acquisition and use of digital assets. "They're just not calling it an NFT because it doesn't live on a smart contract or on a blockchain. However, they are selling you digital assets already and people are buying them." As such, Microsoft's choice to reject NFTs, according to Paul, is merely a ruse. [Listen from 2:40]

Paul believes that the present debacle has also highlighted Web3’s preoccupation with blockchain semantics. He states, "The ownership of a digital asset is here and it's just gonna be here forever," so holding on to the term NFT may create unnecessary categorizations. Paul thinks that Microsoft is essentially indicating that it dislikes the specific brand and not the technology itself. Essentially, they both believe that the company will build its own brand because it has everything it needs to develop and implement the technology on the blockchain. "In Minecraft, digital ownership is already there. It's just not on a blockchain. It's just that it's not called an NFT." In essence, the company is distancing itself from the terminology but not the concept. According to James, game firms like Roblox are actively utilising the terminology to their advantage in a safe decentralised ecosystem. Paul remarks, "NFTs are the future of everything!  They will change our world forever." Microsoft's rejection is only one company's decision, not the death of NFTs. [Listen from 6:33]

Key Takeaways:

• Microsoft's rejection is a statement of  the company’s disapproval of a specific brand and not the technology itself.
• NFT-like constructs already exist in Minecraft which allow users to purchase and use digital assets.

Resources

James Burtt on Twitter | LinkedIn | Instagram | Clubhouse

Paul Abercrombie on Website | Twitter | LinkedIn | Instagram

In this episode of Understanding Crypto James Burtt  and Paul Abercrombie interview the author of Zero to Hero Crypto Guide, Jeff J. Hunter. Jeff is well recognized for his branding company Branded Media that uses remote workers from his virtual assistant agency VA Staffer. He has made numerous advancements in the field of gamification while promoting its significance in the world of cryptocurrency. In this episode he discusses the potential for his marketing firm and the growth of the gaming industry in Web3.

Dedicated to Gaming

Jeff maintains that gaming has always been an essential part of his life, considering that he was raised in a military household that frequently moved.  “You know gaming has always been a kind of absolute in my life,” Jeff confesses. His dedication to the craft saw his evolution from being a volunteer at a computer shop, to becoming an IT guy throughout the district education system, and finally becoming  an IT project manager at a Fortune 500 corporation. He began creating virtual teams from this point on. According to Jeff, he acquired this skill "before it was cool," and it has grown and changed over the course of his career. His passion for gaming has led to numerous opportunities in top gaming companies such as E-Sports, League of Legends, and DOTA. He reflects on his journey, stating that, “I've always been an early adopter and sometimes that is really painful when you're too early. In crypto it's really hard to be too early.” He claimed that one of the main issues with being an early adopter is that you enter too early and most times exit too early. [Listen from 4:06 ]

VA Staffer

James praises Jeff's amazing marketing strategy for the business, and questions him about his decision to found VA Staffer.  James comments, “The biggest shift in that business comes when you change the value proposition… looking at it from the business benefit of increase of revenue not a decrease in salary costs.” Jeff explains that the introduction of Covid19 and the global financial crisis have made remote teams a necessity for organizations.  In order to support both his branding firm and his crypto gaming team, he needed to employ the recruiting skills he learned through his staffing agency. He also attributes his eventual entry into the cryptosphere to the connections he has made through the VA Staffer agency, which led to his eventual participation in Axie Infinity, a NFT online game. He was immediately intrigued by the game’s play to earn model and saw its potential. He remarks, “I started thinking about how much that could impact the world, by having us invest in these things and to have other people play these video games and do a profit share.” [Listen from 15:11 ]

A Guide to the Cryptosphere

Jeff said that he had been quite dubious of cryptocurrencies since he had not yet grasped the idea of utility. However, he gained practical expertise in blockchain technology thanks to his involvement with Axie Infinity. He reveals that the wait involved in converting money from fiat to cryptocurrency, and vice versa, was the hardest adjustment for him. From his own experiences, which he used to write the book, he thinks that the best way to learn about cryptocurrency is to use it. He wrote the book with the intention of bringing the complex learning curve connected to the cryptocurrencies down to an eighth-grade level. James concurs; “The learning curve is steep but the market is even faster! Which is why anyone who's running around as crypto experts can't be, because it changed two seconds ago,” he argues. [Listen from 23:57 ]

Future and Present Projects

Jeff thinks the recent cryptocurrency crash has exposed many excellent developers who are dedicated to the Web3 industry. He is enthusiastic about the possibilities available to his brand agency, the expansion of the gaming market, and the chance to renew relationships with former allies in the cryptocurrency sector. He has a particular interest in two projects: OpenBlocks.io, an NFT-based game featuring collectible cards, and RunBlocks, a move-to-earn application. Although gaming remains his passion, he is enthusiastic about advancements in the DeFi world and is particularly interested in Avalanche and Avax. "I'm borrowing money and using leverage to buy Avalanche and Ethereum now while they're cheap." [Listen from 35:03]

Key Takeaways 

• Jeff J. Hunter’s book, From Zero to Hero Crypto Guide, simplifies the complex learning curve associated with blockchain technologies to an eighth-grade level.

Resources

James Burtt on Twitter | LinkedIn | Instagram | Clubhouse

Paul Abercrombie on Website | Twitter | LinkedIn | Instagram

In this episode of Understanding Crypto Paul Abercrombie and James Burtt present eight points to consider when choosing and participating in an NFT project. Paul says that these 8 pillars are relevant if you're looking to invest in a project, as well as when you’re launching your own NFT.

The eight core pillars of a successful NFT project are:

1. Rarity:  NFTs are often digital art pieces that are sold as collectibles; the individual components of the artwork are referred to as traits. Collectors are interested in collections that are distinct and have clear backgrounds for seamless compilations. James describes the procedure: “150 individual images may be placed into the generator and out of that you'll get 10,000 collections”. The rarest combinations produced by the algorithm have the highest perceived value, and are therefore more expensive. The rarity of the NFT and its collectability are also impacted by the quantity in the collection. [Listen from 3:01]
   
   
2. Artwork: Contemporary developments have led to NFT artwork that changes over time. The use and potential value of the NFT can be affected by this method, which has since gained usefulness. Through the evolution of its artwork, inventive creators can access new functions. [Listen from 8:17]
   
   
3. Utility: Paul thinks that when evaluating the utility of an NFT, investors and developers should take these considerations into account:
   1. What function does the NFT fulfill? 
   2. What possibilities does the NFT present? 
   3. What future use cases might there be?
      
      The best NFTs have utility in the real world, and offer a mix of experience, training, and access to the investor. Paul illustrates how utility can be incorporated into a Web3 project using their TWC tokens as an example. [Listen from 10:17]
      
      
4. Secondary Market: The type of blockchain that developers use to design their NFTs is the primary factor that determines their ability to sell on particular secondary markets. Developers should carefully choose the blockchains they build their NFTs on, given the inter-portability limitations that currently exist in the Web3 world. "You need to consider where you want to post that and the market cap of the size of the blockchain you're on," says Paul. [Listen from 15:07]
   
   
5. Gamification: Gamifying NFTs keeps participants interested and committed to the project. “You're incentivizing somebody to take part and you're rewarding them for their participation,” Paul explains. It is associated with utility and contributes to the evolution of the project's functionality. Ideal projects are balanced, which guarantees that investors are always engaged and dedicated to the project. [Listen from 20:00]
   
   
6. Credibility:  Who are the people involved in the NFT project? Who are the participants in the NFT project? “In the traditional world of business you wouldn't even dream of investing money into a company or a crowd fund unless you knew who was behind it,” James remarks. Both James and Paul concur that if a project is financed by a crowdfunding platform, NFT developers should never be undocked or anonymous. Investors should have access to all information, including the identities of creators, board members, and the addresses of physical offices or crypto-mining sites. [Listen from 23:36]
   
   
7. Community: Paul argues that the concept of community in Web3 is that everyone gains and benefits in the same way. “It's a share of wealth, a new distribution of that wealth model which is different to traditional business.” Because they apply web2 tenets while utilizing web3 platforms, he thinks that many NFT developers do not accurately portray the principles of web3 community. The most successful NFTs projects are able to guarantee investors' equitable returns at every level of participation. [Listen from 30:30]
   
   
8. Legacy: They anticipate that NFTs' overall legacy will be its normalization, making them a part of daily life. Paul invites developers of current NFT projects to consider how their NFTs might leave a legacy.“With our creator coin, our legacy is that we're giving people their voice, and we're allowing them to build their platform on our network.” [Listen from 37:31]

Key Takeaway

• The eight pillars of a successful NFT project are: Rarity, Artwork, Utility, Availability on the secondary market, Gamification, Credibility, Community and Legacy