EBC22 | NFT: The Next Generation Tool for Content Creators

good afternoon everyone all right um really happy to be here with you guys excited about this beautiful topic nft is the next Generation tool for uh content creators so my name is Albert munded I'm director of uh Innovation at FC Barcelona um and uh my role at the club is basically trying to manage our relationship with the startups in order to build products and services and at the same time try to diversify the business model of the club of course uh everything has to do with blockchain we have it in the pipeline I remember when I joined the club 2016 we did even the first kind of internal workshop on blockchain um so I'm happy that after six years um the industry has evolved quite a lot right so but before we start let's start with some introductions um Michael and Jimmy uh let's introduce yourself welcome everyone uh I'm Michael I am the CEO of sound Doshi and santoshi is the music platform for basically it's revolutionizing music distribution over internet which we'll be talking shortly I think yeah hello yeah GM everyone so my name is Jimmy and uh um we I'm the CMO of like chingari which means spark so basically it's a social media Network it's a leading social media Network in the world and nobody knows about it yet you know because 90 of our uh our creator base is based in India but uh we're looking to we already enable like uh you know content creators on our platform to go ahead and monetize themselves like from day one and not just that we're gonna take it to the next level by integrating like D5 into it so it's more like a Sofi Network so social media and D5 yeah thank you all right well let's start with the first question um um how so from from your point of view um the nfts right uh we've seen that the content creators of the creators economy has been evolving quite a lot in the last in the last years how do you see which is the the most um important Point uh from your from your from your opinion how nfts can amplify these creators economy under arm anyways how nfts can can amplify this but I think the biggest ones are from I will be speaking from the music perspective because it's my my respective industry uh so the first thing that people can do using nfts and tokens is try to fundraise uh their upcoming albums instead of going for the deals with the labels or Publishers uh and from the music perspective as well nfts are just the next generation of the music carrier uh so this way you can actually start selling your albums without spending uh outrageous amount of money for physical production distribution delivery and so on right now you can do it for a few dollars and few cents uh so yeah that's uh that's it cool Jimmy Yeah in our case like uh basically NFC minting is within our application and it's inbuilt through our product system so basically the thing is like for example right now what we are going to do is we're going to create like some content because that's what we're doing over here right so I'm shooting every one of you and this is like a video nft and uh what people do is they just create content based on their Hobbies right some people like dancing some people like music cooking and I like to talk about crypto and D5 so that's what content is right so uh the thing is how we enable nfts within our platform is basically uh the content creators or the participants they have two different types of nft that they can meet within our platform and they have different perks so basically uh what happens is like let's say if you earn one Gary token which is a token on Solana which is the third eyes token holders like 600k on-chain holders but we are enabling this to like millions of users who are like 5 million daily active users who know nothing about crypto not about NFC so basically it's it's a very use user-friendly experience for them to just click a button and mean their nft there's no wallet connect or sort of like things like that within our platform and uh basically what happens is like through this nft they can earn more tokens out of their content and through engagement of their content like for example on on YouTube you you what do we do like we watch content we like comment and do all of this good stuff right so you can do the same thing over here and you can just uh let's say you're monetizing your social media time you know so um and nft by the use of nft within our platform you get to earn more it's like a premium subscription or something like that and we have different levels you know from 2x to like 10x you can earn per day so we have this sort of a nft thing but also the videos on our platform form are going to be like vnfd so in the future like in the near future and in maybe like couple of months we're going to launch like a nft Marketplace which is going to be ours not like openc or like uh Magic Eden you know it's good you know but like we're gonna we we want to implement use cases around our token because that's the currency even though we are built on Solana the fees are going to be paid in our token and that's why we are building that Marketplace so for example let's say an influencer or like whatever like let's say uh you like someone's content or like any part of the movie and you want to own that piece of content you can go ahead and if they want to sell that content you know they can go ahead and do that you know and uh you create this whole circular economy because you can you can be paid in like different royalties and like let's say if someone wants to go ahead and sell that they get a royalty and if they want to go ahead and sell that they all fall down the whole uh royalty chain so that's how uh in the short term but yeah there's a lot of cool I think you both guys touch it on the on three main kind of aspects that um that that can surround the nft wall right what first one would be I would say the the the community building right so that the kind of connecting people right second one is how you can gamify this this interaction right and it's about playing right and the third one is how you can monetize it how you can own that right how you see guys from your personal um Ventures right where do you approach first from these three kind of pillars so you start like trying building the community and then trying uh giving the opportunity to play with it and finally monetizing it or how how you see those synergies in between these three kind of uh aspects of the the nft wall all right okay I will start uh so [Music] um first on Sunday we are creating the asset market so we are filling the platform with content of course uh music but then we are gamifying the experience uh of listening to the music uh in a way that for example Spotify and other platforms uh I think they missed they missed their time uh for that but actually to encourage people to listen more and to be more deeply connected with their artists we need to create this kind of uh game experience for them so we have all of the different level uh spaces and so on but I think the coolest part of mixing music into into web free reality uh are the rewards that fans can get from artists so each time you will be listening to some music I would say in the particular amount that we'll be able to tag you as a super fun in our platform then you will start getting rewards like the uh MP3 tokens tracks to your wallet and once you've got them in your wallet then they are truly yours so you can listen to them for free and further on you can sell them you can give it someone as a gift so that's that's the first thing we are doing and we are connecting everything we are doing uh to the existing social media platforms we have the integration tools for that so we are able to actually create the scenarios that Empower for example use of Instagram with sound of shoes so artists are able to create their own uh social media campaigns where people who are for example sharing this piece of content into their stories uh they are getting rewards directly on soundoshi as nfts from an artist and we are also able to monetize pretty much all of the even the smaller interactions like likes because uh you can connect sound Doshi with Instagram and if you're artists also connected his Instagram profile with soundoshi then you can basically we can basically set that each time you like his profile he's getting one cent from your on sound Doshi and the cool thing is that Instagram can't do anything about that and and they can't really stop us so who Jimmy yeah I mean it's amazing you know to see how like the audio sort of content is being monetized on that on their end you know in santoshi's ends so I mean on our end like how we try to gamify is through the nft as well like uh let's say like I mentioned you know you have the 2x to like 10x and this is just a start you know so you you can basically upgrade your nft to a different level from it starts from like basic which is the basic tier you have a basic user badge and you have a basic Creator badge and it has different perks and then it goes to the silver tier which is like uh you know um sorry the bronze tier which is like 3x silver which is like four and gold is like five and diamond is like 10 okay so uh that's how we are gamifying the nfts you know and enabling like content creators like video content creators to go ahead and like um you know earn our tokens and um you know yeah monetize their content basically and then um the other way is like you know you could go ahead and uh tip a content creator let's say you find a content creator that you don't even follow and it just comes on your feed you have a button and you can just click a button and you can pay with our Gary token directly so and uh the other step is like like um you remember like we in D5 and everywhere like people like to find the hidden gems you know they go to all this uh telegram discount groups like you know sit sit like for 20 hours just to get some Alpha so basically now you'll be hunting for like uh influencer Alpha over there like the people uh who you believe are gonna be like uh amazing content creators in the future and you find them in the beginning stages and you invest in them through the whole token economy so it becomes like you know their revenue is like uh your Revenue as well so uh by investing in them what you can do is a and these are not like I'm not talking about like you know premium content creators who's got like millions of budget to create like a studio or something like that but it's just like everyday people you know maybe they'd shoot with a phone so basically once you invest in them what they do is they go ahead and buy different gadgets and they can upgrade their content quality and by that that by that means they engage their users as well and uh do better content and also it's good for you so it's like a win-win you know so and these are just like some of the applications but it's endless you know thank you cool um from your words guys I was just thinking like um especially you Michael when you when you're explaining that you were leveraging Instagram kind of user base in order to kind of build this community and then bring uh to the web free wall on on a decentralized wall um your your value proposition right and that brings me to this uh something I already heard this morning in different uh panels the tension in between truly decentralization and mass distribution right and how we are trying to build on the web 3 wall decentralized products but at the end of the end of the day you have to put more layers and layers to make the whole experience more user friendly and that probably brings with more um centralized organizations that are trying to bring these user right how how do you see guys this tension um in between uh purely uh 100 decentralized uh value proposition or actually building these these layers on top of that that are more centralized approach to that is that we are building bridges right now for the transfer of Music Industry into web free so we are more like web 2.5 so we are mix of the good old existing internet businesses with the uh with blockchain uh so uh the decentralized part of the application is the blockchain stuff so everything that comes up with an nfts uh all of the data that is inside of the nfts including music and so on it's being stored in a distributed database so once our customer is gonna buy the nft from us this nft acts for him basically as a compact discs is acting for you when you buy it from a shop so you can listen to it on demand anytime you want we cover the streaming it's free for you then you can sell it further after the years you can transfer it to someone so that's the the centralized part also the payments and so on but actually in order to compete in this market you need to be somehow like existing company so you need to you need to mix the blockchain with the with normal business so I would say that right now we are creating the protocol layer for music on the blockchain and we are not closing it to anyone we are open for competition so we are building graphical user interface that is going to leverage this protocol that we are building but it's gonna be open for other people as well to take our uh I would say our achievements and build on top of that and maybe deliver something better yeah so for us it's more of infrastructure play on the on the base web free layer but then we are mixing it with with pretty much centralized user interfaces because you can't really do it other way uh you always need someone who takes care of the yeah of the platform and and these people have to eat as well so so you need to have some like company so we I would say we are like web 2.5 not uh web 3-0 right now but we are going towards this direction for sure all right Jimmy what happened uh you know the ethers of crypto is like decentralization but like I mean I think it's questionable you know it's hard for me to say like hey oh like um oh like you know like which one like Solana stores on uh Google bigtable and all of those and none of these like are decentralized yet except like Bitcoin but anyways like you know um how we come approach this is to provide we focus on the end users or what we like to call as like participants in our economy we want to provide them real world value you know that's what we are focused about like the decentralization and centralization we know it's like uh you know it's like a scale you know from zero to ten let's say and somewhere along the lines will be swinging so right now we are like you know 50 there you know because we need to store all of these data and we need to leverage like AWS 3 and all these Solutions because there's no prominent like uh end-to-end like you know data just always Solutions you know so so because of that like I would say like it's not completely decentralized but like we're looking we're exploring different options you know and uh since we had just built on Solana right now on Solana if you uh do a lot of research uh let's say Genesis go those guys have already built like Shadow Network you know so they are uh they are moving away from Google bigtable and that's what we are also planning to leverage so all the videos on our platform and every stack is going to be posted over to their network but of course like this is still in the early stages and we need to be careful because um we have like five million daily active participants in our in our platform and like I said like most of them like 600 000 of them are on chain you know on Solana so it's like a long way to go a lot of Education needs to be done you know it's just basic about like web3 what is this token and all this stuff you know so but we extract away all that complexity but the thing is we are looking to go there we we contribute actively on like open source product like you know Solana mobile we just launched like couple of days ago so we are going to be building on that because our our platform is like mobile first and uh yeah so I mean we're going there you know and uh that's why they hired me you know to get them to that stage and I'll be building a team around it uh like a complete web3 team who is just going to be um giving uh advice and like how we can plan this stuff you know so yeah we're looking into all the different options but at the moment we are regulated we have kyc and all those stuff and our platform going so you know we are um regulated everywhere you know according to all jurisdictions so it's all good you know all right maybe I will add how Sounders actually supports the centralization what is our vision for that uh so we're gonna release the open source unchain music player uh and we are using the open Bitcoin standards so you can basically take our wallets our mnemonics and execute and launch it into any other software then into this software you can integrate this Unchained music player that we're gonna release so we are opening our infrastructure for developers to actually build their own music players uh like in the good old times when we had Fubar or Winamp and so on this time you will be able to build such a player for people who are buying music from soundoshi but then they can play it in any place they want and you as a developer can deliver this value better graphical user interface to them to make use of these music assets uh and monetize on it yeah so instead of us going for a subscription we are just the the music distribution platform uh but then you can subscribe for example to someone who created amazing music player that is just perfect for you uh and that's that's how we want to suffer the decentralization so we want to leverage uh people around music and people who are fans of Music developers to create their own Solutions on top of what we are doing and we also the same way we are gamifying marketing and so on because we want to encourage our fans to promote their favorite artists and be incentivized by the artists to promote them uh yeah is into the music sort of a thing because we need different sorts of like music which our video create content creators want to enable because let's say like I I record a video but I want to put a music in the background you know so I can use like your apis and probably I integrate it you know so we integrate all these different sorts of solutions you know and uh it doesn't matter whether it's centralized or decentralized it's just a matter of like hey does it provide real world value for our people who needs it that's it you know so makes sense one last question before we open to the audience um how you see nfds uh will redefine the the way um users or creators um have their links with Brands like FC Barcelona for example Jimmy okay so first thing is like you know membership and all those you know your your ticket sales let's say you you you have the nfts for all your seasonal tickets or whatever you know so that that thing is like clear you know I actually wanted to demo one of those samples you know with you like people who would be meeting me I'll just mint like an nft through like a QR code so that's like a first use case you know and the thing is I mean it's it's very if people understand membership you know so it's like just a matter of like scanning QR code and getting it on their phone so you could definitely go do that and I mean I mean uh like let's say um you have all these uh football players like everyone wants to own a piece of like Lionel Messi like every goal he scores like let's say there's an nft for that or let's say every cup you win FC Barcelona you have like an nft for that so maybe the photo of your um like you know the the winning team of FC Barcelona you you can make that at nft and there's a huge Market to this and I mean mean it's it's just a matter of like who wants to own stuff it's just like art you know so I mean nft is basically just the technology but the application is like um we can think of like endless applications on top of it because everyone wants to own a piece of like FC Barcelona you know or we collaborate with them so if you have a contract let's say for example with FC Barcelona you can you can do that in the form of nft as well and yeah [Music] we are of course working with artists so we are looking for the Crossovers uh with the brands for example as FC Barcelona so uh we are exploring the the few simple things we can do with the brands the first one is digital merchandise uh so we believe that in the future like metaverse is basically is basically gaming yeah these are the games but enable blockchain enabled games uh so we think that we'll be able to deliver like 3D Unity or Unreal Engine models of a clothing of the popular brands uh and we'll make our artists to sell this both digital and physically connected Goods uh to their people for the sports industry we have tickets and we think that nfts are gonna be huge uh for ticketing industry in general because once you can sell it to the people at unbeatable cost second when they I attend the event you are still connected with them so for example you can drop the highlights from the from the match they just attended onto them to create some kind of a memories for them and we are also huge we are betting huge on the coupons so for example in soundoshi we are working with Polish artists who had marketing campaigns with McDonald's and they were promoting some of their own coupons for McDonald's we think we can enable such thing around celebrities as well so they they will be able to actually sell their coupon nfts or distribute the coupon nfts and this way increase the brand awareness and increase the sales for the for the brands make sense any question right there thank you my question is direct to to Albert if it's okay um um you're as a moderator ever yeah can I still um well the question is regarding the FC Barcelona token launch and nft collection launching um to a I would say fairly not techy audience and what was your experience with pushbacks friction to like people potentially not understanding the concept of digital Collectibles and how you see the um future understanding changing um well I'll try to answer a short because I'm not here just to talk about them but let's let's make it short um of course when a new technology enters uh to the club you need just to educate people internally especially with the you know with different we are a pretty political organization uh so there is a lot of uh you know concerns on the mid exposure that this uh our positioning to to to this new technology especially blockchain um that being said um we definitely see the opportunities um we are on the process of actually we already have we signed a sponsorship deal with chills with socios.com I think it was four years ago that was the first time that FC Barcelona fan token was actually um ready to trade in Social platforms so we are already there the only thing is that we just uh put it as a sponsorship deal where you just cash up front and then another party operates that that market um but uh definitely uh in the next months uh you will see something coming out uh we'll be working quite a lot in the last in the last year so yeah um this is pretty much one last question not for me please hi guys uh so the question is for Jimmy and Michael if I can read your name correctly yeah uh so you know we are talking about content creators and we are talking about nft selling nfts right but we haven't touched upon I was expecting that you guys are going to touch upon um licensing because you know influencer marketing or you know influencers are morally involved in licensing the content how do you see um solving this issue with the nft product that you have at the moment okay so uh quick uh quick answer from me uh in terms of the music back catalog so the music that is already already exists on the market uh we are doing it in conventional way so we have the deals with Publishers labels and then we are just making the direct royalty out payments uh from our platform for the new music we are trying to seek the deal with the sysac right now to expose the new artists that are coming to our platform to the ability to license their own music and if they license it for sound Doshi then we can put it into any dsps like YouTube uh Spotify and so on and start monetizing and creating the realities for them yeah basically it's just integrating with other social media networks to work with their team like AIML team to create a standard you know so that like uh a piece of content is always original and that's how like once we enable like nfts and all the stuff like I think it's pretty much simple you know to get rid of like duplicate content and like copyright content so and also we have like kyc so I guess licensing is not a problem at all you know for our our sort of like content creators all right we just don't have any time more so thank you Micah thank you Jimmy for everything that you're putting together and yeah we'll see around um yeah thank you very much thanks [Applause]