What if Crypto Ads Were Superduper? - Matthew Iles & Dan Kinsley

coming up uh we actually had a panel you know a talk titled what if crypto ads were super duper uh coming at you live from matthew isles and uh dan kinsley from super duper so welcome you guys we're uh happy to have you here today really looking forward to learning about uh crypto ads and uh take it away thank you um thanks so much for having us we're really excited to be here and to share what we've been up to so um the title of our talk is one of crypto ads we're super duper um and we're going to get into exactly what we have in mind here but first there's actually a number of things that we're sharing for the first time here such as uh who dan and i even work for and we work for a company called serotonin i'm the co-founder and partner at serotonin and we are a go to market firm for breakthrough technologies we offer both marketing services for some of the best projects in the space and beyond and we also build our own projects and in my past i've led marketing both in the web 2 space and in the web 3 space i was the founder and ceo at civil and dan i'll pass it to you to give your quick intro being my partner at crime both at civil and here yeah that's uh she's been a builder in the space for a while i'm really passionate about building you know web through technology and bringing it towards a mainstream audience not just you know crypto folks and there's lots of incredible people who work at serotonin with us my co-founder and ceo is amanda cassette formerly cmo of consensus we have an amazing host of teammates who have been in the space for a number of years and like i said our primary focus has been working as a marketing firm with some of the best projects in the space and here's just a handful of some of the products that we currently work for and we help these companies grow that's what we think about all the time at serotonin is how do you grow a brand and as we've been thinking about our other interests in terms of developing our own products this question is central for us what products wouldn't be able to develop that can help projects grow their brand grow their business grow their community and something that we've been thinking about and i think a lot of people in the space have been thinking about from a marketing sense is the notion of influencers influencers have been a growing marketing channel for for many years now but in recent years it started to take on a new tone and even a new word um which i think is creators creators have started to become the leading way in which we refer to this changing paradigm and and really what it's doing to the changing media industry and we started to think about this from the perspective of like what is going on in the creator economy what exactly are creators doing and first and foremost of course they're making media creators are creating videos imagery photos memes audio music essays articles collectibles games even art and then they're looking to monetize their audience that's how they're supporting themselves it's how they're growing um their capabilities their communities they need to somehow monetize the audience that's um coalescing around the media that they create and they often do this through two ways they generate first party revenue which is to say they're getting money from their audience directly either in the form of patronage tipping uh just essentially gifts or donations sometimes it's in the form of access payments so pay walls to articles token uh gated discords um and then of course there's retail bidding and buying nfts on super rare zora you're just you're just purchasing a good from these creators but there's also traditionally another form of revenue that creators use to grow their business which is third party revenue and this has been in the form of ads and sponsors and we're going to go into this a little bit more and how we think we can help impact this for web3 creators so over the past 20 or 30 years first party revenue is actually on a huge decline as the internet made it possible free to publish free to distribute you know audiences really move to the aggregators the big platforms and consumers didn't think they needed to really spend much for such a glo of media that was out there and in recent years we started to see even when consumers want to pay for something there is still a sense of fatigue you can only have so many sub stack subscriptions before you just decide that you can't pay anymore meanwhile third-party revenue especially online has been exploding and it's been primarily captured by platforms like facebook and google there's no the problem here is there's no even opt-in for creators creators don't get to choose what ads are placed next to their content they don't get to choose what brands are associated with them and that's because of the advent of programmatic ads which of course everyone finds so icky these days and for good reason but when we think of just about like at the macro we have first party revenue where consumers start to feel penny pinching as they even have even if they want to uh support more and more creators they just don't have the means meanwhile third-party revenue brands have tons and tons of money to spend and they want to put it to good work and a good example of just putting this side by side is sub stack which is really the most well-known mainstream uh brand in terms of the creator economy at least in some respects just at this very impressive milestone 500 000 paid subscribers um but when you get into the economics there's just not actually that much money there 60 million dollars uh gmv gross merchandise revenue going through the whole platform that's every single person has a sub stack the total pie of revenue is 60 million dollars when you compare that to facebook uh last year they created 84 billion dollars and so that difference of just you know 1400x and is it fair to compare and contrast facebook to sub stack you know in terms of age and so on but the point is there's not 1400 times more consumer revenue to go around but that just doesn't seem likely and so there's this very untapped pie we feel when it comes to third-party revenue in the web 3 space when you look at the kind of creator economy and its convergence with what's going on in web 3 with nfts you have crypto art you have the retail consumer revenue through super rare zora foundation people buying standalone nfts and and certainly to some staggering sums which is great for the creators uh but still we think limited ultimately in the long run and then these kind of emerging crypto media patronage models like you're seeing with mirror and the crowd funding uh aspects and of course there's the tokenized discourse but what we don't see in the creator web three space yet is access to third-party revenue but there are certainly brands who want to put their money to work uh in this space and as certainly as more and more people come into the web 3 economy of the future so that's what we've been working on and what we want to introduce today is our first product from serotonin it's called superduper and it's a decentralized marketplace for creators and sponsors sponsors being brands marketers individuals anyone who wants to be able to get a message out to a creator's audience in a decentralized uh more effective web-free way and so let's show you what this looks like or think of it as a vampire attack on centralized social media the centralized social media platforms have captured so much of the of the revenue pie that we want to access and bring it over and make it accessible to a decentralized ecosystem of creators and sponsors and so the aspects of this of super duper are that it's peer-to-peer anyone who has a message can sponsor any creator across any platform we're leveraging crypto markets for dynamic price discovery no more guessing what you should you should uh price your your sponsored content at or what you should pay for a certain sponsored message for it's all going to just be market-based we're bringing two different ways of pricing uh these listings to the market one-off auctions and radical markets dan's going to show you a little bit more about that in just a second and the whole point of this is that we're unlocking a whole new revenue uh stream for creators you don't have to worry about only gating your community uh extracting as much revenue as possible from your community you can have more open approaches to that you can go beyond just consumer dollars and you can target brands and marketers who have more money so dan i'll pass it over to you if you want to explain a little bit about what's under the hood and then we'll give everyone a demo sure totally um so this is a super high level view of like what the actual like smart contracts are um effectively it's a marketplace contract it's it implements the erc 721 interface so each listing is an actual nft it's a little bit different in so far as the marketplace can unilaterally transfer a listing based on the rules of the controller so when a creator creates a listing they choose the controller so whether it's the auction or the radical market or you know some other controller that hasn't been uh created yet um and so then um we have a governance layer that approves you know what is allowed actually the controllers that are allowed and it also mints a token when there's economic activity which we're going to get to in a little bit um i think uh so next slide so um let's take a brief look at like a radical market flow in terms of a listing um so let's our creator alice creates the listing she sets a minimum price uh or minimum assessment um and the whole idea with the radical market is it's always for sale based on the self-assessed value um of the person that owns it owns it so alex creates the listing bob can purchase it essentially for free for zero die um and then he sets an assessment of 600 die and he puts one month's fees uh retainer fee into an escrow contract so bob puts 600 die in and so again this listing is always for sale for the assessed price um and then the retainer fees continuously accrue so um alice can withdraw these fees at any time if you did it one month from now she'll be able to withdraw 600 die um at any point carol can come in see that listing for 600 die say that's a that's a bargain um she can buy it and then she sets a new assessment so maybe it's 700 die and she'll put in uh you know 350 die uh for um into the escrow contract so um at this point the transaction will pay out uh bob 600 for the sale proceeds and carol will put in 950 so she'll pay 600 to buy it and 350 uh into the escrow contract if the owner effectively like defaults or doesn't pay their fees um the creator is allowed to evict the the owner of that nft or of the listing um and then it essentially resets um so then the new owner can come in and pay the fees um so now that we have a kind of high level overview let's just jump into the demo um and so this is what a creator would see when they create a listing they're able so so the goal here is for a creator to effectively sell themselves in and sell their um like what they're providing so uh to sponsors to show like you know why they're a good candidate for um for them to you know to buy this listing so they can um give insight into their audience uh they can add tags to enable sponsors to find like um topics of interest um they could show the channels that they're that they're active on whether it's twitter or twitch or a podcast and they have this kind of rich text editor um where they can kind of add any arbitrary details to help um you know kind of show what's unique to them uh right now they can list the token list do the listing and die um we can add other tokens in the future they set a base assessment and then the retainer fee um i'll jump over uh to this is what a sponsor would see so um the creator creates the listing they can market they can and then creators can i'm sorry then sponsors can discover this and they see that you know the assessment is for a thousand dies so they can purchase it now for a thousand i'm gonna click purchase now i set a new assessment um i'll set that to 1500 and i will prepay one month's fee so i'm going to pay you know 2500 1000 to buy it and then my my prepaid escrow fees um and then i will i'm paid for about a month um [Music] and then i'll confirm that and then submit my metamask just popped up and um i'm in the process of purchasing this transaction uh purchasing this listing so at this point now um any uh the initial the current owner will get any um any proceeds so presumably they're setting the the price the assessment higher than what they paid for it so potentially they um you know they they made a little bit of money but i think what's really interesting from a um like a game theory perspective is that this allows um creators and like everyone's incentivized to set the true market value of what this thing is worth because um if they set it too low and and obviously their retainer fees will be really low but someone will just scoop up scoop it up and take it from them and then if they set it too high then they'll presumably overpay um in retainer fees so the incentives are aligned um so this transaction confirmed i now own the listing at this point um uh i can communicate uh with the um with the creator using um excited to work with you um i can communicate with the creator using um an end-to-end encrypted chat using the signal protocol uh and they can sort of work together to you know kind of do what uh is sort of spelled out in this listing um so with that i'll pass it back to matthew to to um finish this out about what's coming up next great thanks um and while i get my screen back up let's see i suddenly lost my my uh slides one moment sorry for that okay perfect so um what dan just showed you was um to a feature that we want to speak to so in addition to being decentralized in addition to having dynamic price discovery some of the other core features that super duper brings to market and it's v1 um speak to privacy and convenience for both the creator and the sponsor so you just saw dan demoing the end-to-end encrypted chat this means all messaging between creators and sponsors is totally between those two parties only it's double opt-in fully encrypted and anonymity enabled another convenient feature is decentralized asset management so often in creators and sponsor relationships the sponsor is looking to share logos taglines uh you know pre-roll video things of that nature that they would like the creator to use on their various channels and that can be a headache to manage all those different assets uh now the fact that super duper is um able to be completely omni-channel or cross-channel across all your platforms where you manage your your sponsorship engagements here you have a decentralized asset management where all the sponsored assets are in one place stored privately and stored permanently some things that are on our roadmap escrow crown escrow contracts where you can pay a portion up front pay the rest on delivery fully negotiable between two parties private listings so you can make certain sponsored listings available to see only by trusted partners as opposed to being publicly discoverable this enables things like discounts to special partners or just putting together special packages without necessarily giving that away to the wider public and then ratings and reviews because uh of the transactions taking place on chain we can actually verify uh when a relationship has taken place between a creator and a sponsor and therefore when we ask those two parties to give ratings and reviews about each other uh that builds reputation for the rest of the ecosystem and it can even be used to help boost discoverability so that everyone is you know working in the best interest of the ecosystem overall speaking of super duper will have its own platform token and the plan for the super token is there will be zero pre-mine um instead it will mint with every transaction so every time a sponsor pays a creator it will create an equivalent amount of super du of super tokens uh 42 and a half percent of the um transaction uh amount will go to the creator 42 and a half percent will go to the sponsor and 15 will go to a community treasury in this way over time super token will be owned primarily by the most popular creators and the most active sponsors as it should be with a decentralized marketplace we're super excited to get folks to join our beta so if you're a creator if you're interested in creating art media if you're a gamer if you're a developer even you create your developer evangelist um we think that super duper can help boost your business if you're a sponsor if you're a brand a meme lord a whale a patron who's just trying to get a message out into this growing ecosystem and you want to even just support the creators who are already involved um please get in touch sign up today you can go to superduper.so and and sign up for our beta access which is rolling out later this month and if you want to get in touch with us to answer any questions learn more about super duper learn more about serotonin please get in touch with us with our information here thanks so much everyone