DeFi by Design EP#68: The Future of Tickets and Events, Web3 style w token events

Transcript

welcome to d5 by design where we talk all things blockchain and cryptocurrency while striving to educate empower and enrich it's your boy andy and welcome back to the defy slate youtube channel smash the like button on this video that really helps us out and sit back and enjoy the content thank you very much what's going on guys welcome back to the d5 by design podcast here today with episode 67 almost touching that number 70 mark it's been a it's been a long journey so far it's been a great one and we are excited today as always to uh welcome on some new guests to the show um today guys we're talking about an interesting intersection between the web 3 world and the and what i consider really truly the culture world i consider this to be one of the largest

ways um of web 3 kind of intertwining with the culture world as you know in the near future we've seen art we're starting to see some of the music world and i think what's kind of next is the social uh and eventually you know the sport world and today we're talking with adam and chris from token events uh token events is a next generation uh fan and ownership platform which i'm super excited about as a sports fan i've got my polygon jersey on today we're repping polygon we're down 70 from all-time highs but i met sandeep at east denver guy's a genius the team's great and i mean long term baby long term so here we are adam chris welcome to the show guys um and we would love to hear about how you guys got started a

brief intro and uh yeah we'll let you take it away adam hi thanks for having us um again i'm adam jones the ceo of token events um the antithesis and the genesis of the of this product and this build and this idea all started out inside of the chicago mercantile exchange i was working there as a consultant and we were working on a massive project adding liquidity back into the market and when i was looking at how we are adding liquidity back in the market on both the buy and the sell side of the trade i started to unpack how this could actually work and as far as like adding liquidity back into your life and doing some of the things that you do in your

regular day-to-day and then i started to think about things that i enjoyed and some of the things that i saw people taking advantage of which is sports music art etc there's a lot of third parties that sit in the middle of a lot of these experiences and they make a lot of money off of the product itself and then the user and so the way i looked at it was if you can take the you could take hardcore thinking on a ledger basis or doing it the right way and you can unpack that and add liquidity to the market for you know mercantile you can easily do that as far as the day-to-day experiences and so with that i started off and running and building up the product and then chris

and i met a couple years later when we were working together at a management consulting firm and then he and i also then after that worked hand in hand at an agency in chicago and then from there the it just snowballed and it kept to it kept uh gaining momentum and then now we're at an inflection point in time where the idea and the mechanics behind what we wanted to do and the technology have caught up with the zeitgeist and everybody understands it now because for the longest time a lot of a lot of people were telling us oh wow this is really cool but we don't even understand how you do it to now we're talking to you and you know there's mass amounts of people that understand how these mechanics work

and then they're excited to actually engage in it not only from purchasing coins to actually go to into events but also helping us grow and joining our community and hearing what we have to say about what we think about decentralization and ownership and where that lives in this ecosystem yeah and chris what what is your uh we'll just start with a pretty a pretty uh typical question what is your kind of what's your favorite part about um working and building token events and um yeah how's it how's it going so far so just being the cto it's awesome because i get to bridge both the visual and the technical side while also

talking to the outside world um because this stuff is it's next level it's very complicated very technical and just to be able to bring people in is just great what i particularly like about token events is that it can do almost anything like we're looking at events we're looking at sporting music festivals it could just be something as simple as like turn on my lights and get some fan it's all about empowering the user the more you share the more you do with it the more the fan gets rewarded and fan so it's like that cool area of it does everything and you finally get the power and and reward for sharing your data yeah that's like a huge concept is is well i mean adam hit on the hedges that

ownership as well and getting back to the data it's just kind of we as humans have generated so much in the last eight years like i mean it's just it's a shame that there's no way for us to like you know going towards just take that back um you know so i take that that that's one of the biggest concepts that has led to the creation of token events you know talk to us a bit about what you guys see as being um inefficient in the current uh ticketing world and event world uh kind of what's the what's some of the of the why behind uh revolutionizing the way ticketing and and uh events work oh this one hits me pretty close um just last week i tried to go to a hockey

game and they had ticketmaster it was a standing with excellent wi-fi couldn't get wi-fi ticketmaster requires you to have um wi-fi to pull down the ticket couldn't pull in no matter what we tried to do had a hot spot someone else's phone held the entire line up for like five minutes just trying to get in with token we can have it offline you just walk up to the gate they know who you are scan and walk right in as simple as just ticketing is solved and just streamlined and and then some of the things for me which uh really get me excited are you know tickets themselves are a bit of a shell and then you kind of use them once and then they're done right and it doesn't

really do much more past that moment and you know through ticketmaster or other ticketing memes like the nba or the nhl doesn't know if chris actually went into that game right they know that possibly the name on that ticket went but they have to get that data from a third party like ticketmaster what we're saying is everybody's participating meaning that user is participating and all their experiences inside that stadium are also being amalgamated around that moment and then that moment becomes this non-fungible experience which again is um you know i p protected stuff that we're doing on moving away from that dumb ticket that does nothing into this nfv experience that does

everything and then you can look back in time at your um digital scrapbook i think that's what you call it chris right sort of kind of like walking down memory lane yeah walking down memory lane in your digital scrapbook and being able to unpack those things and then all those nfts actually roll up all of the different ways your data was being transferred over the wire these iop or iot experiences payments etc at the pos all of that now are actually coming together inside of this um nfv experience which is more than just like skiing the qr code sit down in my seat and that's it the stadium and you now have a bi-directional relationship and

the venue or the stadium or the team can actually serve you what you want and what you'll engage with in real time versus looking at the data then three weeks later trying to entice you to come back you could have been earning all of those rewards from the moment you walked in and didn't have to hold the line for a wi-fi experience that was kind of busted and then the stadium knows everything about you and maybe by the end of that game you might have enough fan in your wallet to come back and they might be able to entice you either to come back or to like do something else inside the stadium that actually keeps you inside that funnel and the cool thing is is that now they understand who you are as that user versus just hoping they got

the right person at the right time based on data that they don't necessarily get a chance to query around yeah it really makes me that it brings you back to the idea of the nfts in general um and all nfts really kind of um sports how they align which is ultimately just the community um teams and and fans i mean it's all just one big community and what's what hasn't been able to happen yet is that connection that you're saying like surely there's i'm a tampa bay bucks fan and tom brady just just came back last night big news but like there's no connection with me in the books but i've been to a bunch of their games you know i've watched a bunch of their games on tv i gambled on the games

right so it's like so it's like well you know that connection that that community is is lacking um what are some of the like the most important things that you see um you know to build that community you mentioned kind of rewards um you also mentioned kind of being able to get uh potentially better opportunities you know what are some of the other community building things that you could potentially see within token events and and for teams and event venues in general um i would say identifying uh what i'll call your uh collective community like for example there's so many people that are into soccer they're also huge fans of esports

right it's it's the same thing with with ticket seats we sell a ticket seat we have no clue who's there we have no clue what their interests are if you start to gather all this data and share and really reward the user they start sharing more data about themselves and you can start making these correlations so you can now have like a fifa game now officially offer promotions to those that go into the soccer game you just grow that community from there you get to find more people are like you and have your shared interest right and so all of those all of those specific uh group behaviors or tribal behaviors are now actually turning into data points in which these teams or these bands or these venues can actually say like you know section 219 is just

full of gamers and how did that happen how did they get here then you can start to unpack that data and say like oh you know like maybe this was like a group of friends that told these groups of friends and all of these things are connected and then they've blown out this whole section how do we entice them to actually not just do this one time but actually make this a recurring event and then the same time too it goes the other direction it's like hey egaming do you know that you have a massive like uh concentration of individuals in the chicagoland area that are really into like you know insert game fortnite etc and then it's like how do you use those cross promotional

opportunities to actually keep them engaged and grow out your community in real life and digitally and then the more those things happen you could unlock a skin going to like x amount of like mls games that actually could show up in fortnite that you can have complete ownership with but then also amalgamate into you your identity as an individual across the metaverse and in real life because we've built identity into this as well to actually um not only help you you know with your login log out and guarantee that you're a good actor on the chain and that you're not a scalper but it's also there to create a passport if you will to go across all these different meta

and irl experiences and so the way that we view everything is if we're if we have been building out the nfv experiences we are also taking ownership of how the individual is building up their identity and their ownership across these spaces and how that thumb print that lives inside of the some of the ip that we've built out is going to be protected and also verified and actually created like a safe mechanic for them across all these different types of experiences yeah the the experience economy is is is missing a digital passport badly

like so so badly like there have i've been to i just got back from okeechobee which is a music festival and you know they gave me a pin and um some cool like a cool thing to like sew into a shirt or something but man would it would it be cool to have like an okeechobee nft for each of the three days that i was there that i can just show my my friends be like yo this is sick like all my boys would have it as well and we'd be you know be tight um you know and and it's just it's it's missing that digital passport um that that's gonna be just yeah it's it's a huge thing but we're seeing it slowly kind of start to um hit with like um concerts and you know things like these music festivals and stuff so it's kind of kind of hitting it

at at the same time um what do you think is are some of the ways that you guys want to integrate web 3 into the sports world or into like these fans i would assume we're going to start with younger people people who could be more willing to kind of adopt this but you know what are kind of some of the the ways that you guys have thought of um bringing these experiences uh to the fans and kind of making it easy for them to onboard and and whatnot so actually um before we go into that i want to add on to that this does exist and it's google and facebook you sign into google you sign to facebook they track your location they know where you went know what you did but it's all behind all these locked

doors like that's your information you should have access to you shouldn't have to be a google savant to find your tracking data you know yeah it's not in a in a cool form like an nft or um you know something like a like a digital like identity it's very much so just sporadic exactly and yeah and so what we want to do for the non-crypto native people right because like you said you know it's like if this might mostly be a younger generation or a more um engage generation inside of web through your decentralization or crypto but the idea of how we're approaching everything is

they're going to come along anyway and we understand that and we know that they're going to be into it they're going to be listening to this podcast they're going to be like you know ears of the ground knowing what's going on but the idea here is if we build this in such a way where we put the user at the center of the problem and we take away all of those uh friction points for the user and make this frictionless you could be a non-crypto native or a non-ledger decentralized person that doesn't understand all the mechanics of this but we can actually bring you along for the ride and you can learn by doing and by doing more and earning and learning you're like okay i can understand the mechanics of this and

then we add the the teaching component to this which is teaching by doing you're going to go to this event and you can like if you give data that adds utility to the ecosystem magically you're going to get um your rewards in return and then they would see that and learn and then you know when we start to get more complex then we educate the user around the right way to do like you think you mentioned earlier when we're talking about yield farming and staking and things like that they can then learn those things and do with what they will from the wallet and be able to participate in a way that makes sense for them or it could just be essentially like oh i've earned like 500 fan and that buys my next ticket okay that's what i'm going

to use this for and i don't need to worry about these other things so what we're doing is instead of just focusing on one group because everybody's a fan of something and everybody likes to go to events and everybody likes to you know be social and out there and checking things out of the things they love um we're creating the the platform for the non-crypto native along with that crypto native or that decentralized native person to like come together and be in one place at one time yeah it makes sense it's it's like the uh i think the guys from uh the bankless pod have said this a bunch it's like um like a traditional front end in the front like an app something that you

would be used to and then defy and all of the stuff in the back end that it's almost like you know click of a button whereas in something like this you know you could you i would assume and we haven't gotten to tokenomics but eventually we'll be able to stake your fan to earn whether it be experiences more fan to secure the network et cetera et cetera for somebody so for somebody who's not very familiar with staking it could very well just be keep you could you could really you know have it say something like keep your fan in your wallet to earn more more rewards or more fan it could literally just be staked in the back end effectively without them even knowing or they just have to click one button um so you know stuff like that making it easy is gonna be crucial

um but ultimately if if fans feel like they're getting more out of it they'll you know they'll want to to go ahead and use things use applications that they'll get more rewards and a better experience within that i think that's what it's all about is that experience um you know i'm kind of curious how you guys view um the issue of of kind of like refunds and uh missing events and kind of just things that in life happen and you know what's what is uh i guess it's more on the technical but what does kind of the process look like for uh you know me to to go ahead and get a ticket or an event through through through token events and then you know we can get into kind of refunds or um things that i get but what's the ideal

process that you see so as far as purchasing tickets um we're gonna have a large large pool of tickets same thing you would do when you buy a normal ticket use your fiat and in our case you use crypto purchase your ticket it gets pulled down onto your device now as far as reselling or missing a ticket you can sell off your ticket but because we're so our goal is to take the money that's usually lost through scalping and put it back into the system we toss it back into the pool and into the top of the pool so the money that the money that you lost sorry

restart so we toss it back into the top of the pool so that ticket isn't really lost like usually like it goes somewhere and then like that ticket might not get sold it might have been bought for a super high price and then everyone's missing on that cash so that's our mechanism for ensuring that the tickets that are bought still keep their value and then also keep the money within the system got it yeah and the other thing too is um a little bit that's a little bit different in the current world you know you'll even if like you have like that vip pass then you have to stand in this crazy long line and then you may or may not get the seats etc etc um

the mechanics and how we're building everything is everybody that it that shows up and that's ready to go based on a lot of tickets isn't going to sit in this obscene like line that they may or may not get into the actual event based on their spot in line or how many times they're pinging the server because the mechanics that we've built into this are you know a true one for one um person in line to pick up a ticket that is associated to this event and there's not going to be this weird game of like i have four browsers open and i'm trying to do like 27 things at once um it's going to be a quicker cleaner and more user-centric experience and

then if a person does miss out on the opportunity they can put their hold down on you know when these things get released back into the wild and then like chris pointed out it goes back to the top of the stack and that person's um spot in line when they missed out is accounted for and there's like no game playing and there's really no way there's like almost down to like a 0.001 chance in hell that somebody could actually scalp or bought this experience and so for us it's about again the user right as a user i don't want to sit in like oh i have to sign up for this vip pass i got this vip pass now it sits me in this

line that i may or may not get into and chris and i and yourself can all do it in the exact moment then magically like one of us gets in and then from there it becomes more chaotic what we're trying to do is call it what it is this is an event this is you as a user you got in line you have earned your right to that ticket or to that experience and we're monitoring closely to make sure everybody's a good actor and that's the other thing too while doing this you know on the blockchain and being able to do this in a way that is benefiting the user um we're able to see if there are any bad actors out there and the other thing too is you're not going to be able to make a bunch of money off of what we're doing because

we're allowing the um the teams or the fans or the the bands or the venues to say like oh hey you know this ticket is forty dollars and so it's forty dollars and there's no way to like take it off and sell it and do something with it because again we have our identity um all set up inside of the um inside of the um the mechanics of the of the application and so there's going to be none of this game playing it's going to be a very straightforward experience without all the lines bells whistles and letdown yeah yeah i hear you and i mean it's a it's an it's a it's a new way of ticking i mean there's there's just there's

airlines that i'll go on google flights and get a get a flight and come back 10 minutes later and check again to to book it and it's up like 40 40 bucks or something or 60 bucks it's just i mean it's nuts yeah it's there's there's a lot of uh of shady practices that that go on that we don't see in um yeah it's always about kind of bringing that value back to the user and making it and making it easy for the user um yeah i mean people have been just picking on users for so long and users have been complacent because they want to go to the thing they want to be a part of the experience and if it ends up being another 60 they're just like i know for a fact that there there's an algorithm that saw me look at

this flight that then saw me like look at x and amount of other things and then like they know my level of interest is high so it comes up another 120 dollars you know some people will do a vpn and look at their flights in a vpn like you know out of sweden and then like when they finally make their their mind up then they come in and they pick the flight that they want knowing that like that experience is going to be the truest price right it it as a user you shouldn't be complacent to have to do those things it's it's it's actually like robbery in a weird way and it's legal so we're just aiming to fix that little thing but fix it in a really large way yeah i mean the the

total addressable market for something like ticketing and events is just i mean it's massive it's something that oddly enough we've talked about since like 2017 um but as you stated in the very beginning it hasn't really became a thing until like until nfts became really popular like nft is really like laid the groundwork for like okay you know you you go to the super bowl you get the nft i just saw a music festival in europe doing nfts they actually partnered with ftx um there's just i mean yeah that's making it possible so talk to us a bit about what the idea of a non-fungible experience is kind of how that came to life what and what the vision is there um using the technology behind non-fungible tokens

sure i can take that one so if you think about it going into any event or doing any purchase or interact interaction there are hundreds of individual events and data points that come across the wire if you take those and map those all together including the purchase of your nfts and your tickets your products that really makes a fingerprint of who you are it's your identity for your event or if you chain those together which we're doing with nfes that creates your identity of of exactly who you are across everything so that's our goal and it allows us to actually like take individual pieces and let you walk down memory lane of like i went to the super bowls game and who did i go there with what did i do you can go

see your nfe and see all the things you did chronological chronological order and is that an erc 721 token like how what kind of like is that an nft itself or is so like is the nfe a basket of nfts or kind of what is like how does the uh like the like yeah the token side of it so it's a basket of everything um nfts purchases data points and really it's all tied together by your identity so um if you want to walk into we'll say take a pause there let me think about this sorry it's a deep question

um for example if you were to walk into a stadium you have your nfe you purchased a ticket you checked in at the front gate that's a data point you bought some beer and then you took a video of of the game from your spot you caught this awesome like throw or catch right we can put that onto the blockchain tie it into your nfe and boom that's like that's a a piece that's unique to you and that's something you can do okay if you want to then get an ft out of that after the game you can get something mentioned in boom you have your nft for that event the super bowl 2023 memorabilia um nft from there we can

spin that off into your esc 20 have it shipped around to different markets and now it's in the wild but until that point it's all yours yeah and it's something that it's something that i could show somebody else elsewhere in the world like real time meaning if i have this you know so say in this example i've got this amazing catch and i want to you know i want to show it to somebody surely i could send them the video but i it was is there a way where i could um you know send them like a link to my nfe like hey check out my experience you know like this proves that i was there i took the video like like almost like the open sea of nfes if you will

exactly so because that really brings in like not the flex so much but more of like the being able to share that with your community exactly because there's so much more around it go ahead no it was it was going down the same path you were so it's like yeah it's not a flex it's like no no this is real this happened and here's in sequential order and these are all the things that amalgamate into that experience and then and it's coming from me because it's underneath the umbrella of who i am and then you can outwardly show these things to the world and then people can engage in that in different ways that they haven't been able to do before um you know and some some people may want to

have them private maybe these are just personal things that they don't necessarily want to share but maybe there's something that happened that they want to to um to post about or they want to share privately to somebody else but we're giving them the mechanics around the how to do it and and doing it and more of like we're taking baby steps right like people are getting used to minting and buying and understanding like you know what an nft is and why those totems are important and you know the value that it brings to somebody you know is worth what people pay for because people spend x amount of dollars on these things because the value is there intrinsically you don't need somebody on like you know cnbc telling you what's right or wrong

it's really what you believe and so our point of view is let's take that a step further and think about like all of the things that truly make up experiences and then the ownership of those experiences and like what does that mean for our own personal footprint and why and how how and why do we share that with each other and so for us it's really taking all that packaging up in a way where you can share it or you could like sell off pieces that are you know able to that you're able to sell or mint or do whatever you want with it but at the same time that data around all those experiences has is going back into the system and then we're serving you better

as an organization for your next event or your next experience because we're able to tell all of the other nodes and the consensus mechanism and all these other businesses like users really love x and you know what we need to focus x for this type of user on these type of experiences because it actually is a win-win for both you the um the business and for them as the consumer and then we'll start to like unpack a lot of marketing science around this you know people are like oh you know like this is a marketing ploy not necessarily because you know if it's free you're the product and we aren't doing this to make you the product we're letting you earn rewards

and we're letting you the user dictate what are the best experience to me based on data not just like hearing one thing one time and pounding over the head with it but it really saying like your data says x and if you look at the type of people that are in and part of this experience right now at this okeechobee festival you know like sweatshirts are a thing so we need to make sure that we have like a ton of sweatshirts ready for this thing because these users like x or you know these types of experiences or gaming or like these types of uh even even in the marketing sense like these type of um digital experiences like this crowd really like you know gravitates towards and then you do you put it out there

across the wire across the system and you see what people engage in the your hypothesis could be 100 right and then like everybody buys a sweatshirt or you could be wrong and then you go back and you look at the data set and say like what went wrong what were these users doing what was the weather and so you can start to unpack that in real time versus um just hoping and praying right it's actually using the system in a way where they're both the fan and the entity are engaging and getting closer together um versus where they are right now which is desperate with a bunch of third parties in between yeah i was get uh that's exactly where i was going it's it's it's it's not exactly a full revolution of the way that the system of of marketing and data

is designed however it's it's just a way to make both parties be satisfied less so just one being the corporate or the event holder or the overall business and then the user basically as you're saying just kind of not getting anything out of it aside from well i mean a cool experience but one that you know could just be you know much much better and i think even even more so a really cool way to get the the crypto audience and even some some of our uh you know deepest users involved is to be able to use this application for events in the metaverse really like parties and community calls and um you know things like this as that kind of concept grows being able to you know have snoop dogg's concert in the

sandbox on token events you know that would probably be one of the largest like immediate use case yeah like while small still but you know that that user base would be very open um to this yeah absolutely and you know and when we're we're all about taking some of those in real life things and putting them in the in the digital world and vice versa because our idea here isn't just based on like having to go to a physical space it's an event is an event an experience is an experience no matter how you choose to to partake in it but what we're trying to do is put that layer in there or build out those suites of tools so that in this new

world in new web 3 decentralized thinking that we're providing a service where everybody like you said earlier everybody's winning and is actually enjoying this and it's actually becoming a better conversation between you know snoop dogg in this instance and the fan and there are ways for this person to feel more rewarded and it actually brings the artist closer to the um to the um the fans because they under they understand them maybe not um the same way you and i are understanding each other over a conversation like this but their data in a way is a conversation to you to see what types of people are here why are they here where did they come from all those other things uh because one of the

hardest fans to figure out is a as a person that lives in l.a an la fan is very like is very hard like they may go to a lakers game and then like an mls game and coachella maybe or they might just go to coachella and then they go to like one other thing but like they're really hard to figure out because there's no real they haven't really done the math on like what's driving that user to these different events and so you do enough of these um you do enough of the data churning through the system you can start to come up with a consensus mechanism around oh you know like proximity may be key maybe it's weather maybe it's um their social network like if you know if between this age and this

age and their friends all live within a block of them they go to coachella or they don't who knows so it's an interesting it is an interesting place to be in this current environment because again in our jobs right now we stare at data all day and people try to put the data together in like the best way they can it's still very clue g excuse me to try to understand the user and you know what no one really understands the user yet so what we're trying to do is build that suite of tools for these um these um sports teams or these businesses to understand their fans better and then give the fans the tools to get closer to the thing that they love and to engage in a way that is

actually rewarding them and you know because again adding liquidity to your day into your into your um life if you came into that building paying 40 versus 400 from some scalp ticket you've now added that much liquidity into the ecosystem right into that economy and then you come in and like maybe you're buying more merch now or maybe you're engaging in things that are actually going to be beneficial towards you versus like go like well i spent 400 bucks i'm going to go in have a water and then go out now like that actual experience is actually making more money based on the fact that you've added liquidity to the situation and so when we add all that then the data gets added

because now people are engaging and then that's more utility which equals liquidity in this situation and then guess what happens that person then that got taken for a ride for four hundred dollars has a better experience does more engages more and then by all that engagement they're going to be rewarded in the utility which is fan and at the end of the day that experience which would have been exactly the same if i spent 400 or 40 is way better than it would be in the current state and everybody and everyone and everyone in that scenario wins yeah 100 that's i mean that was really well put and it makes a lot of sense especially when compared to the current

environment it's it's really one of uh as you said just it's kind of a scalpers world and it's it's mercenary like but we've seen some stadiums here in the states especially uh kind of cut down on allowing scalpers out out front i've seen people not be you know just people get taken off if you will or just kind of told to get out of here um but yeah at the end of the day it's still there and you know adding that liquidity as you're saying basically creating more um more availability for the venue and for the fan to have a better experiences i mean yeah it's truly it and i mean i can't help but kind of move as we as we talk about these experiences into kind of how this blends in with the

the world and the upcoming world of web 3 social which to me is like owning content and being able to uh have things verifiably there and kind of like just decentralized no um kind of uh third party twitter twitter blogs and censorship and um you know all these kind of things that just happen in the in the web 2 if you will youtube google facebook all that stuff you know that experience of a new social world is is exciting um i know i'm going to ask you guys to kind of imagine here a bit what do you how do you guys foresee the like this this world of non-fungible experiences and kind of uh this web three if you will event uh

colliding with uh this new idea of social media um and kind of owning content and um you know having that identity online linked up with your web three identity and you know your wallet and and and and that kind of stuff how do you foresee this intersection playing out it's going to be a wild ride because if you think about it true decentralization and ownership you own your friends group the the groups you participate in so like your immediate friends every single message you put out there and every platform you interact with like it's going to be a scenario and a

system where like i run my own chat room if i want to take messages if i post messages in there i can if i want to take them out i can it's just create this system where it's just like everything is just open world and there's gonna have to be some party involved where i sort of not controls it but sort of guides how it goes because like you can't just like post things take things down you can't just like operate in your own way you have to still have some sort of governance in place yeah most definitely it's it it comes down to setting up the incentive structures properly and that's kind of what you guys have really circled the entire idea of token events around is is creating

those incentive structures and those those loops that basically have everybody involved with i think that's that's big on on the web 3 world and big on the on the social world again the idea of this digital identity this digital passport i think the only problem that i can foresee is it being not private like i think we need to have parts of your digital passport that are private by by design but ultimately this idea of who you are now it's like facebook instagram twitter and as you're saying like you know your google your mail but being able to like take all of that into like your own identity online and i mean that could replace your driver's license ultimately you know it could replace so much your passport gone

you know and again it needs to be sort of private and not necessarily government issued um again i don't know how we're gonna get over some of these things it's gonna be a wild ride um but yeah i mean it's i mean yeah the possibilities become endless with um you know the technology and non-fungible experiences is has got to be right there in the mix yeah i just want to clarify something there uh with token you only share what you want yeah so if you want to be completely anonymous completely anonymous if you want to say your name is is joe for an event you can do that but tying everything back and go through all the loopholes if you want to claim whatever comes with that identity you can claim it but as far as the brands and the venues are concerned completely anonymous just

whatever data you give them right and then that because your data is encrypted and it's just that it's that long hash but what we can tell people is that you know if you're looking for data for these type of users you know men ages 18 to 50 that like gaming and major league soccer like we can get that but what we do is we encrypt everything so that no one does any targeting towards you and if you're a user and you want to use this you know for all of like your events uh ticketing and like purchasing and all the other stuff if you don't want to share any data you don't lose any um any mechanics inside the application the

application still works for you like it would for somebody wanting to share data the only thing you're just not getting or any of the rewards and we aren't gonna share your data or do anything with it unless you want it to be shared or you want people to know um some of those things so we've worked in a lot of the uh the anonymity into this but the um your login or your identity right is tied to a certain mechanic which is ever evolving never changing kind of like an rsa token and you know who you are as an individual is an is a encrypted hash and so if you wanted um to share your data it's basically that

encrypted hash is not necessarily you per se and so we've added that layer of you know you can trust this string of numbers because the string of numbers checks out and then all of the experiences and ownership around who you are checks out you're good to go and then there that's the passport part to it cool yeah that's i mean that's a big thing especially for i mean i think that's just a big thing for everybody and i think they'll start to see that in the coming years i think it started to bloom in the last few in terms of like oh okay wait why am i getting targeted on facebook after i say something out loud on my phone uh now starting you know people have started to kind of realize these things i think coming years especially that desire for the privacy will be

important but uh there's a yeah it's like zero knowledge proofs are concepts that are gonna be huge in um in a lot in a lot of these events just because of the tech i don't know chris if you want to add anything onto that but um yeah i mean just having that privacy that is enabled but also still able to like the data can still be used as you're seeing like these hashes as if it was um you know the entire layout of the actual data itself very interesting stuff um curious kind of about uh yeah and chris if if you want to yeah sorry i i have top off or anything like that

yeah um you just i mean no worries hopping off or i'll just uh i'll just i'll just i'll just say it and then me and adam will finish up the next five ten minutes we're just gonna touch on uh kind of some of like the upcoming stuff launch vp and then just get out yep cool sorry about having to jump but it's awesome cool yeah but you're muted yeah i was kind of rambling anyways but i'm just going to kind of ramble into the question of um how can we get involved so let's do it sure um and so i mean getting our our users involved and making sure um you know that they have the best fan experiences

is definitely a priority so um you know what's on the on the agenda for you guys as far as building um and you know how can our community get involved sure so the good news is it's not an idea anymore it's definitely full on build the mvp or beta testing is going to be coming out in may and um so some of the things that we've done to prepare for that um you know chris and i didn't touch on this earlier but he and i both were the heads of technology for the digital agency record for mcdonald's at one point in our careers together and the one thing we learned while working at mcdonald's it's good to have your test kitchen because that's where you

can do all your experiments so we actually do have our test kitchen in a weird way it's not a kitchen we have our uh it's a three field stadium with the chicago lions rfc we're using them as our testing hub for all the new things that come out and then um nothing official to announce yet but we are working with major leagues major league teams and some stakeholders in those arenas so right now we're close with a few but we can't disclaim any but what we're going to do as well is have a concert series and do smaller concerts and events to show this working in in in real time in the real world um you

know with some major label um artists and then with that as well um we're currently um we just uh got off of a launch pad we're still on our private sale and we can you can reach us reach out to me directly or you can reach us over our telegram and our social channels like discord and twitter and we'd be happy to talk more to anybody that's interested in investing in the private sale or um is interested in future tokens yeah that's awesome yeah it's going to be sweet to see the mvp come out excited for that um and uh yeah the mlb just got back online as well they finally came to a decision there so yeah um that's

always good news for sports fans and um yeah man so check you guys out on on discord twitter as well we'll make sure to link all that stuff and um yeah it was a pleasure adam thanks for coming on as well as chris and yeah it's great it's great to see you watching yeah man take it easy take it easy bye