New Media Arc: Storytelling to drive Ethereum Adoption

Transcript

Okay. Check. Oh, wow. That was loud. Hi, guys. Okay. Welcome everybody to our fireside chat on storytelling and new media. Uh before we got up on stage, which I know is also live stream, they asked us if we wanted to have our names on the screen and I said, "Don't worry about it. Everybody knows us." But, maybe people do not in fact know us. So, so let's do a quick round of intros. Louis, let's start with you. 6 7. Hey, guys. My name's Louis. I uh work on the new media side of the Ethereum Foundation, primarily focusing on storytelling, bringing some culture to the Ethereum community, and bringing this to life through videos.

Benji. Hi, I'm Benji. Um I was forced into crypto through a story, and I hope to be able to tell that to more people who can use it and discover the beauties behind it. I work at the Ethereum Foundation. And I'm Diana, aka Decentralized. I work at WalletConnect, and I'm the lead social and new media person there. So, the conversation that we have today is actually a different format that we're piloting. We didn't tell Bettina, so I hope she's okay with that. But, um a couple days ago we posted on X, and we asked people what they wanted to know about being a creator and working on new media in the crypto space. And this session is going to be centered around your questions, the questions that people dropped on X, because we want it to be truly truly useful. But, before we

get into the questions themselves, let's quickly explain, in our opinion, what is new media and why is it so important? Why do we keep hearing about new media in the last 6 months? Yeah, I think new media is giving um I think it's giving tools to people that want to create narratives and tell stories without relying on controlled media. New media inherently stands for new ways of consumption, new ways of educating, um and new ways of expressing stories and narratives.

Um Yeah. You want to go next? I'll give you the more analytical approach to what new media is, in my opinion. I've worked in media for about 11 years before crypto, and back in the day when you wanted something to be known and shared and seen, you had to go to Fox News or Bloomberg, or you had to pay someone with a big distribution platform to get that news out for you. New media means taking control of the media platforms that you own. So, for example, even though we know in the Ethereum space we don't truly own our data on all of these platforms, your Instagram is a place for your new media, your X is a place for your new media, your um newsletter, your YouTube channel. New media is when you take the

stories that you want to tell, and you don't have to go pay someone, you don't have to ask permission, you don't have to have a PR agent. You can just go and post whatever it is that you want people to know to build an audience. That's my definition. Um I think new media is unbun- unbundling content through culture, and there's two facets of it. Um bear with me while I go through this. One is having the right tools to disseminate information and disseminate a narrative. Two is having the right time to disseminate it. It's New media is not marketing, right? Marketing is like you have something to sell, and you're like, "I'm going to jam this in people's faces. I'm going to do billboards. I'm going to do all that."

New media is not that. New media is the ability for you to create a group of people who are creating content, essentially, to be able to accurately react to a current thing that's happening and move along with it. Right now, there's a very great example of this happening today. Justin Drake dropped a uh big piece on quantum, and it's like all over Twitter. You'll see like essentially there's a lot of things around quantum computing, Bitcoin being under threat, etc., right? New media is having the tools, having the weapons in our arsenal to take that moment and push content out for it. For example, Louis 2 months ago made a video that like talks about all these people, quantum researchers on the at the Ethereum Foundation, what we're doing in that world. Um you know, today's the day that really goes viral. Today's the day that

those opinions really go viral. So, it's like new media is like not just marketing for the sake of marketing, but having the ability to like jump on a given moment and kind of spread a narrative out across multiple different sectors, multiple different people, um and not just like a centralized thing. So, that's in my opinion like a form of new media. I mean, it's very nuanced. What else can be? You can think of it as like hu- like user-owned media, like creators, like individual creators kind of telling the news, etc. Um but I think ultimately it comes down to like having the weapons in our arsenal to create content and being able to time it very well, so you're kind of moving with the tide that's existing in the social sphere.

Timing is everything, but there's one really daunting part of new media, and it's what everybody's asking about, and that is distribution. Recently, Louis had beef with someone in my X comments on a post where they said that what was it? Distribution is doesn't matter as much, or you had to pay a lot for distribution, and it wasn't the type of content you create. So, this is a question for you, Louis. What is distribution to you, and you have done work with A16Z as well, who have incredible distribution. How does a project or a creator get distribution?

And for those of you who don't know what that is, distribution is how many views you see, how many impressions, how many people see it. I mean, I think people I don't First and foremost, I think stories that are heard are the right stories to be told. And like I am somebody that although wants to create art, and I really do want to create stuff that we're proud of and that we represent, I also want to be seen. I I want these stories of, you know, Justin Drake speaking about post-quantum resistance and Bison, you know, fighting back to, you know, Google's article about saying by 2032 like cryptography will be broken. Um like I want us to therefore be heard with these incredible people that we have. Um but I think within the world of the creator economy, there are

also people who are so understanding of the importance of distribution, they've kind of almost over-indexed, and they think that it's all about distribution. And I just don't think it is. I think it's about fragmented curation. Um and I think like we've moved into such a world where becoming a trusted creator is so hard, and all that you can really do is just lead with a lot of love and a lot of heart. And I think if you're creating for the right reasons, maybe you'll only ever have a thousand true fans, but that's way more than a million people that don't really care about what you're creating. So, like although I care about distribution, I think curated distribution is actually more important, and I think people look at distribution as just like mass attention, and it's actually not what it is. It's a curated

community of people that really care and resonate. Um and like you can kind of therefore start really passing the torch around. And I think to like pick up the torch and to be the one to pass it, you have to kind of be the one with heart. Um so, I therefore just I'm of the opinion that if you think it's all about distribution, um I I think that you're you're in this for the sprint, but it really is a marathon. Benji, what's your take on distribution? Um I think distribution is not the ultimate thing to look for. I think connection is the ultimate thing to look for. You are consuming so much content every day.

Like the average person in this room, some of you are scrolling on your phones right now. Um like is consuming so much content every day, right? Like for a brain that was designed to eat berries in a cave, that's a lot of content. Um and what makes you remember content, right? You probably don't remember the last Tik Tok you watched, for example. Uh connection does. And what is connection? You see content and you share it with someone that you love, right? Like that I think is what real distribution is. When someone sees something that you create and shares it with someone that that connects with them, first of all, and then shares it with someone else that they connect with, and then you create this network where the distribution is like not just like a million views on this thing, but like a million connection points, a

million stories, a million uh shares, and all of that matters a lot more. So, distribution's not the game to be playing. Uh connection is. I like that, and you're both speak like artists, so I'm going to take the more cold, clinical approach and say that some practical tips on how to get more distribution is to start collaborating with brands and other creators right away. So, what's a very simple way to get distribution? Do you ever see a Twitter post where you I don't know, you say something very very simple, like um or you take that Van Cleef bracelet, that trend that AI did. Who saw that? The the ChatGPT and AI and uh Van Cleef

bracelet? Okay, yeah, we did that. So, you make a design of that, you post it, and then someone else posts it. So, working at WalletConnect, for example, we might do something with MoonPay, and then they'll do something with someone else, and just share that thread, and the more people do it together, the more it avalanches into a trending post that gets that distribution organically. So, don't ever think that you're a lone wolf in content creation, because a lot of the time you will be working with other people to the narratives that you then distribute.

And speaking of narratives, we're going to switch over to the questions from our audience on the X post that mentioned. So, this first question is from Vanina. She says, "How do we successfully convert narrative into revenue? Sidebar, thank you to the one person that actually said the word revenue. It's a very Solana term, and I think Ethereum needs more of that, just my two cents. But, uh how do we turn narrative into revenue? Should we?" Product. You have to have something people use. It's really easy to sell something that doesn't exist. That's what a lot of crypto has been doing for a long time.

Um we have products. Aave is a real product. Morpho is a real product. Um you know, Uniswap is a real product. These are products that people are using every day now, and more so more and more so. Um you know, the product is the main thing. Like narratives are important, but unless there's something backing it that people can go and touch and use, products, right? It can actually be a community. It can be a feeling in some ways. You can argue for that, too. But you need something. For example, if we say, "Oh, like Ethereum, this is Ethereum is global, right?" Like if we say that, it's like that's a narrative. Well, show me, right? Like okay, then it's like we have Ethereum everywhere. There's been one every month the EF has been spinning up new hubs across the world. Every single month in a new country, in a new city. Like

that's like a product right in its own right. So I think the only way to for a narrative to turn into revenue is to actually have something that generates that. And revenue doesn't have to be money, it can mean culture, it can mean community, it can mean so many things. But ultimately lies in like having a product. Yeah, I mean I think Benji's single-handedly one of the best people to speak on this topic. So I won't I won't over index too much further than what he's mentioned, but I think the very interesting thing that Ethereum has been really building over the last 10 years is resilience. And like this is defensive technology. And like you can't start to say that out loud until it becomes enough time when you can say truly this is credibly credibly neutral and very clearly defensive. And like I think like the lowest defy narrative

that Benji done an incredible job pushing was only subsequent to having nine years of uptime at that point. Right? Like that isn't something you can do after six months. So like I think there's people in this space who have converted narrative into profit, into revenue. I think there's many people in the Ethereum ecosystem that do make money and are doing extremely well. And I think a lot of them are also creating incredible content. And I think like Paris and Arweave is a great a great example of this. And I I think it's really just the beginning of the end. And I'm excited. This next question is about creators.

The question is, how do you train junior creators to produce original interesting content that isn't just slop? And to preface this, about six months ago, right around Buenos Aires where we had Devconnect, we had this big big creator community where every other person was running around with a DJI Osmo and people were asking, "Okay, what's going to happen to creators?" So this is my kind of unpopular take. It's a hot take, but I think that the creator bubble is bursting. And I think that there are two paths that creators truly can take, especially if they're coming into the space. The first path is what Louis did.

So Louis picked up a camera what, about a year ago? And now he's one of the most recognized, if not the most recognized creator in all of the Ethereum space and other platforms as well. So what he did was he got really good at the way he was telling stories. What Louis did was he picked up a camera, which you can see here on this table, and he started editing cinematically. He would not sleep for days and he would just learn these new tools like I think you're using DaVinci now and whatever else you have, but he made everything cinematic. He made a lot of his content like a music video almost. So that's a beautiful experience that people go on to when they watch his video versus iPhone vertical looking into the camera saying something with the same monotone

voice over and over again. So path one in my opinion is to really truly level up the way that you edit and create content. My second path that I see potentially is stepping away from just a video creator, again vertical phone speaking into the phone, and learning the strategy behind content creation. And people have been asking me what I do at WalletConnect. I started off as creating videos and then I got promoted to head of social because I actually put the plan behind the videos together. I talked to people, we create the narratives, we do a big scope job of what you actually see on X. So I think in my opinion those are the two paths

you can take as a junior creator. What do you guys have to say? I mean I think no creator is junior. And I think if you're questioning why you're creating then you should probably stop. And I I don't think you should try to be intelligent with like why you're creating. I think you should just do what you want. And like none of what I did was intentional. I just wanted to be a filmmaker and Ethereum gave me an opportunity and I saw it and I just like I felt like a calling. And I think we had a lot of those experiences during the NFT wave.

I don't think we ever had a creator bubble. I think we just had like a sudden realization that um I I I don't think we ever had a creator bubble. I think we had a bubble of people that throw events needing to try and justify throwing more events and like working with creators is probably a pretty good way to to go and do that. But in terms of people really creating production, like we're we're just getting started. The bubble doesn't even exist. Yeah. Um I think it's just heart. I think like the best creator in the world gives a [ __ ] That's it. Like it's very easy to be infected by someone who's passionate.

>> [clears throat] >> Louis picked up a camera. He didn't know how to make films before he picked it up. He came to Cannes last year and he hustled and he had heart. The first time I met him I bumped into him and I was like, "What the [ __ ] Someone in crypto is making videos? Crazy." Um and look at him now. Like you know, it's heart. That's the secret. It's not how good he is at editing, it's not good and he's great, but it's heart. And that's what our true creators is, heart. And the ultimate currency in the world and in crypto and everything is human connection. And a creator who has heart helps foster human connection both between the creator and the audience and the audience and themselves.

And if you can do that, that's what [ __ ] matters. So giving a [ __ ] is the main characteristic that I think a creator should have. I don't know if I should have sworn. Sorry, ECC. We'll allow it. Don't swear, Benji. Um I just want to make a a quick point. When I Benji and I first started working together, um but actually after the EF cuz we we've done some work before as well. Um like one of the big things that he was referring to was like some of the work that he'd done around the NFT creator economy in 2022 with his previous employer. And like one of the big reasons why Benji was so passionate about this was because of like the heart that these guys carried on their shoulders. And like when they were around we all felt this tangible cultural layer that like if you weren't

a part of it, it was like this weird like kind of like osmosis that you wanted to like touch and feel and like couldn't quite understand why it existed. And I think like the creator economy can bring that back. And I think people that have this passion of making videos, we actually have an opportunity here not to create creator tokens just to pay them. Like creators just want to get paid. They just want to earn money. I don't think you need to over index on this. Like for example, Devconnect is happening later this year in November. And like if you are a creator, I think you should try and like reach out to companies that might be there. Like reach out to Benji and I, reach out to the Devconnect team, reach out to former sponsors. Like there is so much opportunity in this space. And like

without this cultural layer that Benji is obsessed with and I am now obsessed with too. I I don't think that we we we can really get people to care in the way that we all do. So let's like build this cultural layer and I think we should do it through the medium of of video. I like that. Our next question is from Elaine. What opportunities do you envision for creators or marketers who prefer not to be on camera? I actually have a great example of this. Not everyone has to be on camera, if it's not your thing, we get it. There is someone in the Ethereum ecosystem called Crypto Goblins. His name is Stash and he started a production company with his father who's been in film and media for about 30 years out of Poland. So what he did was he would talk about media on X and he

would build relationships. He would go to events. So if you're able to do that, that's the way that you meet people. And he just announced before Cannes that he was going to be here and shooting. All of a sudden he's booked by eight projects. He comes to Cannes, he's booked by even more projects. I don't want to name numbers, but he made a significant amount of money and he doesn't have to be in any of that. So understand that if you're a creator, people want you to help them create. You don't have to be a brand ambassador, you don't have to be a don't have to be on camera for anybody. People just want you to give them the tools and if you can give the service to them, that's a way to become a creator without ever having to show your face on camera.

Yeah, I I think just something that I I would be conscious of is like the the job of trying to get people to be comfortable. Like we've had a lot of people even at EF when I first joined were like, "What the hell is going on here?" And like over some time like they were like, "Oh, actually I would actually maybe like to make a video." And there's people that like Benji wasn't even docs when I first met I docs Benji. >> Louis docs me. Lol. And like he didn't want to be docs before like he was like, "Oh, this could actually be really fun." But like Stash's job, my job is is ultimately to bring out the best in these people. And like we are directors.

And like it is our job to care enough to bring out the heart in these developers, researchers, computer scientists, quantum researchers, or whatever it might be. We have 1 minute, so I'll pass it back. I mean creators are in the job of human connection. And like you can connect with humans multiple different ways. Video is part of it. Text is part of it. I've read some tweets that have made me feel something. Definitely not written them, though. But like you know, I I think that is my general thesis. Like you don't have to be a specific type of creator. You just have to care. And you have to understand that like your ultimate success comes from connecting with your audience and allowing the audience to connect with each other, too. And it's not necessarily a strategy thing, it's a feeling and it's hard to

pull it put into strategy and some people do and it's great and they're they're they're we're lucky to have them, but like largely it's connection based. And you can connect with people however is best fit with you and for you. Yeah, final take. And just like really quickly on like new media is not just about videos and I I know we really over index on video content creation just just due to the the nature of this panel, but like there is incredible writers. Melissa is Melissa is one, you you are one. Um and like if you are a writer do not think that we're not speaking to you guys right now. We definitely are. At the core of every good story is a pen.

Yeah. Love that. Mic drop. Okay, thank you all so much for being here. >> Subscribe to the EF. Like and subscribe. Like [laughter] and subscribe.