So when i look around this audience, especially because i've been in the community, it's a little harder than it was in web20 when everyone actually used their face as their avatar. And now we we have very different things. But i have a good sense of a lot of entrepreneurship, uh a lot of creative energy in the room from from a big brand perspective todd when you first heard about nfts, you know as as a dude, and i think you're very on the pulse. Both of you are hence why i wanted you here uh, but how did it first land did you have the cynical point of view of like i don't get it like? Why would somebody own it did it immediately hit? Where did you go the first time you kind of understood this thing is happening.

You've got your perspective. I just want to be happy. Don't you want to be happy yeah? I think um. I think.

Like all of you here, you know, you see the potential for it. You see, you know hey. This will be the dmv years from now the ticket, but all the different applications of the technology um. But then you also look at it against the market.

Very consumer. First - and i look at the experience right now that it's so early days, the consumer experience is actually pretty funny right. You've got to register for digital wallet. You've got to give all this personal information.

You've got gas fees. You've got you got all this conversion. All these steps, as this begins to tip that will hopefully all converge and become much more useful, deeper into it and really understand kind of the intricacies and why people are doing it, we're starting to really you know delve into the space. So will i be able to in the future, buy a token that allows me to perform in the pepsi halftime super bowl show.

I can't sing for then, when you think of the idea of brands and how people connect to different brands, and i think, as you were saying, the different affinities. People had sports music entertainment. You know the utility that it gets in your everyday life, um. There's a ton of possibilities as we look at kind of how we would want to connect with consumers in this space, and so i think we're trying to be really.

You know think about it. The right way and not just rush in and just say, hey. We did one but really strategically figure out, what's kind of the long play you know, how do we want to get into space authentically? How do we want to really just one two, three and kind of step in, because i think to your point, while there forces money to be made and there's a whole transactional piece, you know as far as brand building as well. That's that's another big benefit to us as well, beyond kind of the financial.

You know piece as well when you look at the scale, that's actually even more beneficial to us, given that both of you were in the marketing game. I think but correct me if i'm wrong, but i'm pretty sure about this when social web 2 happened, 2006, seven, five, eight, you have more confidence that you can enter the space more authentically because you learned through the trials and tribulations of that hard transition from web. One to web two traditional media to social: do you feel, do you feel the companies of your size have more confidence of hey? This is what happened and we misplayed at social. If we look back at six and seven, do you feel that gives you a leg up to play three better than two? You know, i think, just to answer your question too.

The um i look at the parallels from i remember when the big first, you know, web 2.0 happened and all this, and just there were a lot of um executives and people in the company are like they're, saying something bad about us on facebook. The fact that all these things are coming so quickly, i think, there's an acknowledgment from a lot of the big companies like ours. Did we don't know, but we know this is going to be a thing. So, let's honk her down: let's get our legal team, our financing.

You know, like all of that stuff that just big companies have to wrestle with, but i think there's a lot more willingness uh to kind of dive. In then, i'd say some of the early days stuff, given that it's pepsi and budweiser super bowl world cup halftime show. How is this framework gon na affect the way you look at sponsorships and maybe even more importantly, how you look at the humans that you do brand deals with? I think, even though i understand the deal structure piece of it as well right now, as you look at friends, we're making a tv commercial if we're signing someone, it's a transactional one-way, i'm going to pay person x, they're, going to provide my service we're going to Both hopefully benefit in that regard. If this is a game changer to a partnership where it's like hey, we can both come out of this.

You know both building equity, making money doing you know positive things for consumers all in the same way, we've built it correctly. Yes, i do think there's gon na be a view where and things like that, what about for a lot of people in this audience who are smaller, artists or entrepreneurs? Do you feel that do you feel like this is a time where, as brands, try to enter and look for authenticity or try to find their way, that for people here that may dream to do business with brands of this size because they have the knowledge and The context for the space is this an opportune time for for them to dream and kind of try to reach out and do things or is because it's new there's a little bit more fear with big brand and a smaller entrepreneur artist might be a liability. Is it a pro or is it a con yeah i'll just say um, i completely agree the only thing i would add, as you think, about a big brand sitting in this space. It's also difficult because there's so many new entrants coming in every day to know 10 years from now who's left saying right and you could get you saw him with ar, but that was the new hot everyone was doing like hey.

It's like someone can do it better than others some might not, and so that that's the thing that's i think, because it's so early, it's a little difficult, but i do believe to your point seeing all the energy and creativity coming from all the different projects. All the different careers is what about on a personal level like where are you like? Have you did you need to like figure it out? Did you like give away your seed phrase to somebody by accident, like on a personal level like? Where are you on your on your journeys right now, just kind of getting my feet wet into space and just to um the wallet and get in there and get in there and figure out what the is there somewhere? I got hurt. You know look alike of some that i thought as you get in there, you go through it, but it's actually for me, that's the most valuable you know putting myself in consumer shoes and trying to really empathize with what has really happened to space and uh. It's been, it's been awesome continue to get into it.

I think your take. There is really right. It's a lot easier for us to take photos to tell the world what we want them to know. If we know what you're buying it's a dramatically real indicator to what you're about - and i actually think that's why we had that convo and i think you're right what um, what what do you? What do you feel when you see this energy like what what's as you've been taking in kind of just being here, just even watching like for me actually i'll jump in where i'm going with that question? As i sit here and i'm doing this interview, this is exactly what i felt like in 2006 and seven at south by southwest about webb, because it was almost like.

There was a lot of curiosity and optimism in the room because i know you guys focus on the consumer and i think the point you made that i think a lot of people should hear is when you're running, when you have the responsibility that you two have In running brands of this size, you do have to care about scale when you see the kernel of the future and all these pretty faces. What what comes to mind as oh, we we need. I need to take this back home. We really need to think about this.

That or the other thing anything stand out. I'd say what i mean: excitement hope you know uh, just the energy. You know walking around the floor singing hearing conversations meeting. Folks, i mean the energy is, unlike anything else right and the fact that it is a you know.

People who are in you know are all right inspiring to see as a big company knowing like this is a space where we're going to continue to start to play and just see for the future. I think in in wrapping up the thing that really stands out for me in the difference of web 2 and web 3 with brands is in web 2. Everyone in the audience was building on top of communication, not consumerization right, so it was about how we communicated. So when brands came in, there was a lot of pushback because it was corporate.

It was business in this space unless you're a hypocrite. I think we can all agree, which i think is a vulnerability for our space right now way too much energy is about the financial part. If you look very carefully, people are 80 percent of the in this space. Right now are day trading, digital assets, and so what's interesting, there's nothing wrong with that.

I love a good garage sale, but what it does is actually gives brands subconscious more room to do things, because most people realize they're having a lot of business dna and what they're doing as well and if brands play it right, they can benefit from that. A lot more than what happened in o6 when it was a completely different conversation, and i think that lends itself to a lot of opportunity for youtube. But very honestly, i think that lends itself to a huge opportunity to all of you and and even though todd and richard kind of painted a very true picture to you, which i appreciated of like how big of a leap that has to be for you to Jv with a brand of this size, much like i've, told you in the content about getting to influencers on dm. I still believe that this is so hot and there's so much momentum that there's somebody who literally launched a project three weeks ago that can make a jv with a national bubblegum brand or a cereal brand.

And i - and i hope this gave you some insight to how they're thinking, which is why i wanted to do this panel to just give a little context, and i hope everybody here has a tremendous time this week and i hope everybody follows my twitter tonight, because I'm throwing a secret wine party, which i haven't done in a decade. I've got i've got a load of wine. I have no idea where i'm doing it and as soon as i find a spot, i'm tweeting it out. So i hope i see every one of you people tonight.

Thank you so much. Thank you youtube watcher. What's up it's garyvee! First of all, thank you so much. I hope you're doing super well during these times.

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