Fire Convo #0002

NFT’s, Crypto, Metaverse.

Unknown Speaker 0:11

Action. was to start doing this more consistently just having conversations on topics whenever I possibly can. So today's conversation is going to do a lot with a lot of brand new technology with cryptocurrency and FTS defi phi. And yeah, I think a lot of you guys could get a ton of good information knowledge from what I've learned and what I'm going through with a few of my businesses. So I'm gonna dive you guys in kind of dump things down for you guys and help here kind of journey getting into the whole space. If there's anything you guys need after the podcast, shoot us a DM and I'll answer a ton of your questions. But we're gonna jump right in and get into a lot of things and answer a lot of questions that hopefully will help you guys out. So I got my friend Nicole here, she's going to put us through some questions to help kind of navigate and narrate the podcast today. And let's dive in fire combo number two

Unknown Speaker 1:58

I don't know how to ask

Unknown Speaker 2:01

she's a little nervous.

Unknown Speaker 2:03

You're gonna cut that out? Yeah.

Unknown Speaker 2:05

100% just fire away worries. Start top of the list

Unknown Speaker 2:13

okay, just just stop it. Like, I don't know exactly how to like don't sound like a robot. So I'm scared. I was just messing just just that was the first question word for word. You're good. I feel like I need to write these out.

Unknown Speaker 2:39

Ask the question.

Unknown Speaker 2:40

Okay. What is an NF T Alec.

Unknown Speaker 2:42

There you go. So NFT a lot of people are kind of getting the phrase a little bit messed up when people hear NF t they think art and that an NF T is an additional art piece. And it definitely has an RPS attached to it. But NF T is a digital smart contract. And ft stands for non fungible token. And what we're doing with digital nutrition and further my companies are using these non fungible tokens as a form of processing to attach any type of physical attribute a service, and tons of different things. But yeah, in the world, right now, non fungible tokens are really seen as an art piece, because that was kind of the first way that was pierced the market. So non fungible token, the main thing you could take from it is that is a smart contract. It is visible and public on a blockchain. And it'll tell you exactly what is attached to it, what time it was bought, or minted, what time it was traded to who, whose wallet address and really gives you a lot of details underneath the smart contract. So and fts. On the first visible thing, yes, there's a RPC attached to it. But other than that, it is a smart contract. And just like any other physical contract in the world, this is just a digital form of it. attached to it is our piece, but that is not all to it. There's a lot more than NF T's have to do and it all ties into the whole Metaverse and tyre Defy. So in a nutshell, think of NFT smart contract, don't think NFT RPS. So what is the metaverse Metaverse is what I think the whole reason crypto and fts. And the blockchain. The whole reason behind it is that people need a place for these NF T's to be purchased. And the whole reason behind cryptocurrency and why I think people want to hold in us is because crypto is a form of currency. And until NF T's came along, there was nothing that people could use crypto to make payments for. And what the metaverse is bringing is a virtual world where people could essentially get the same things they could get in the physical world but it an extra layer on top of our fiscal world. So a perfect example right now is going to be Disney, I think they're, they have the best IP and the best fiscal land to put a metaphor over top. And I think it's just gonna be an extra layer on top of what they already amazingly do in the physical world. So what do you think of metaverse? And if you're ever confused, just think Metaverse is not some other existence or other universe, it's really just an extra layer on top of the physical world. Alright, so what are the like, what are some benefits saw those? I think the main benefit is just that it brought an extra economy. We already have everything right now. And this just brought an extra asset class to the world. So crypto brought an extra market that people could trade and follow just another extra form of passive income for people. It's very volatile, but that I think that's such a huge benefit. And then there's just the whole other side of NF T's with royalties is something that's never been done before. So to get back a little bit on that ft side, when somebody mentioned NFT, and then somebody trades in the future, depending on whoever owned the NFT, or whoever mented, they'll get a royalty percentage off of every single trade. And that's never been done before in any form of any economy. So that's just a game changer and huge benefit. I think just the main thing is, it's it's bringing something new to the table that's never been done before. And it's just like, when social media came out, you know, it wasn't necessarily needed, you know, people could still get their business out via newspaper or word of mouth, but it was just an extra benefit for the people that took social media seriously, they can improve their business or, you know, improve their financials via data. So I think what this is bringing is just another economy another form of income, another just form of asset class. And I think just the people that take advantage of it is going to reap a ton of benefits for the people that don't.

Unknown Speaker 7:03

So the people that are able to start using this, where do you see them going, like in the future?

Unknown Speaker 7:09

You know, I think most people that are diving in now are so kind of early to the game, I think the next three to five years is a lot of offensive moves. I think a lot of like huge opportunities can be made right now. Because you're new to the game, a lot of people are confused, not taking a lot of chances. So if you're in the game, and you're learning, I think the next three to five years is all offense. And I think after that it's going to switch to very defensive, a lot of businesses are no longer going to be making the moves, they're almost going to be competing with people and almost going back and forth very defensive. Whereas right now, it's a lot of just trailblazing, and I think, you know, the main reason I started digital nutrition, and our group of Trailblazers is that we're doing something that's never been done before. And we're essentially trailblazing the path for these other people. And, you know, we're dominating and right now, there's nobody there to compete with us because nobody's even willing to take the chance with NF T's and Kryptos. And with the fiscal world and a lifestyle brand. So really cool stuff that we're getting into. And, you know, I think just the main, like benefit, and where I see this going is that really, it's just the people that take the chance and are willing to, you know, possibly risk a lot right now will will benefit, you know, in the future.

Unknown Speaker 8:19

Do you think there's like potential like drawbacks?

Unknown Speaker 8:22

drawbacks? Yeah, I think right now, especially in the NFT game, a lot of the art pieces is where a lot of people are going to find their drawbacks. If there's not a professional artist that is growing in value, I think those NF T's will decline in value. If there's nothing tied to that FTEs no utility, no physical product, no service, no extra currency. any extras attached to that FTS, I think those will all decline. And I think that's where a lot of bad rep is going to come into the space. But that's because a lot of things are new, as far as like payment processing, and just the whole process of getting an NFT getting your currencies, getting them into your wallets. There's tons of different wallets. Just that's probably the biggest headache and a huge barrier to entry for a lot of people right now. So that's the biggest drawback I think, is that the ease to all this is almost impossible. I'm a very tech savvy person and I don't think I could even handle it right now. So it's when you're trying to ask somebody else who's never been done this before doesn't have a single currency or single crypto in their wallet to do this. You're asking a lot.

Unknown Speaker 9:26

So like if somebody wanted to start like what are a few steps they could take?

Unknown Speaker 9:31

Yeah, totally. I'm gonna restart this clip real quick.

Unknown Speaker 9:36

Dude, I'm literally shipwrecks Alright, alright, so what are a few stops someone could take if they wanted to start.

Unknown Speaker 9:47

Number one is do 100 hours of research on YouTube Google, start asking tons of questions. Start listening to people like me start asking questions that are in the game to people start surrounding yourself With the whole content behind it, you know, at first, you really just need to learn the game and then take your first step into it. So buying your first cryptocurrency, start downloading the app, start paying attention to the markets, start just kind of dipping your toes in all the different things don't take anything too risky. I think one drawback that I did write in the beginning was that I made a huge investment in one of the currencies. And it was Bitcoin. So luckily, I'm still happy with that, but I didn't know necessarily like the best times to get into. So at least do a little bit more research before you start making any huge moves. Step two, is to just have some confidence with this. Don't say no. When this new opportunity comes, and almost just keep your eyes open, and just say, Yeah, you know, this could be possible, maybe I could see this happening. And I think if you keep your eyes open to the possibilities, you'll be open to a lot of the value in the future. Step three is really just going to be then after you have some knowledge and some confidence now it's really to just fully dive in and actually understand and find your opportunities with this. As an entrepreneur, I really have thought about, you know, when I first started digital nutrition and NF T's came to thought I was like, wow, this is really cool. I can attach my supplements and my products to this. But then I thought, you know, what's, what's even cooler? What? Where could this go a lot further. So I started thinking that NF T's can be used for a lot of things that are also traded like cars, and homes and shoes. And so that's exactly what I've done. I started non fungible motors and non fungible footwear and non fungible real estate. So I'm going to be under a non fungible future. So basically, as an entrepreneur, I just thought, what could I use this new technology, this new economy for and I looked at every single way, and now I'm just diving in and going all for it. So next step is have the confidence and just do it, you know, the worst that could happen is that you fail a little bit, but you learn and you restart with a lot more expertise. You know, obviously, you have to weigh the risks, you know, if you're 5060 years old, and you have a family to take care of, you probably shouldn't be risking your entire bank account on these situations, or maybe a business opportunity. But if you're 24, like me, and you've ever chance to start your own gym VNF T transactions and ft members, you know, why wouldn't you take that risk, if it could be possibly, you know, a multi million dollar opportunity. And, you know, that would be my next step. And step five, after that is, you know, keep paying attention to the trends, because what's going to happen in the next six to 12 months is not going to be the same after that it's constantly changing, this new technology is quick, and people are constantly overtopping each other, somebody fixes something, another company does something else, then because that company did something. Now that company wants to do something else. And it keeps opening up new doorways to everything, which is really cool. And it's what we need in the space. But other than that, you know, just really stay up with the trends. See, where NF T's are going, you know, open sea is the number one NFT marketplace right now. But what I see in the future is that Facebook, Instagram, all these social media accounts are going to have NFT platforms, just like they introduced reals or anything, I think they're gonna introduce these NFT marketplaces on their own pages. So then, for example, somebody comes to my gym and they own an NFT from my gym, they'll be able to post it on their social media as a way to almost flex or show a little bit of clout that, hey, I go to this, I'm part of this club. And then it's also formed for my business to get out there. And then other people could buy the NF T straight on that site. I think that's where a lot of it's gonna go. So I think that the most important steps is just keep staying along with this, keep staying knowledgeable and just stick along for the journey, because this is going to be a super cool ride. I'm 100%. All for it. Now, every one of my businesses is fully transitioning into NFT transactions and NFT products, and ft services. So they'll still be sites available, but you'll only be able to get my products and my services via NF T's now. And it's a huge benefit for me, but an even benefit, or even greater benefit for the consumer. Because let's say you buy $1,000, gym membership or even a $10,000 gym membership, and you come to the gym for a year.

Unknown Speaker 14:12

You can literally trade your gym membership to somebody else make all your money back, if not even more make a profit off of a gym membership that you paid for. It's It's the craziest thing that's ever been around. And that's why I'm all for it. I think the royalty side is great for a business because then I can take that extra money and keep reinvesting into the business create a better concept and more value for the NFT holders. So huge opportunity for businesses, entrepreneurs, get into NF T's get into the economy and watch it grow. You got any more questions or what do you think and I think you covered it. That's it. Alright guys, well that's fire combo number two, a little bit about NF T's. A little bit about d phi smart contracts crypto. And next time we talk about this one dive deeper and really the blog chain a little bit deeper into smart contracts and really where I think the metaverse is going to go and I'll even introduce a little bit more on how my companies are implementing NF T's. But if you guys got any questions with crypto anything, make sure to DM me, follow me shout out the videos, shout out the podcast. I was trying to be a little bit more consistent with this all. But either way if you're listening, or if you're watching on the non audio experience, or the aliquot on video experience, I really appreciate you guys and I'll see you guys next fire content. Peace