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    #155 - NFTs Explained: How Digital Art Is Being Sold For Millions and What the Opportunities Are

    enFebruary 24, 2021

    Podcast Summary

    • HubSpot simplifies business operations with a single source of truth for customer interactions and dataHubSpot's customer platform streamlines business operations by organizing and tracking all customer interactions and data in one place, offering AI-supported features for automation and personalized communication, and providing resources to help reach a larger audience in the business category.

      HubSpot's customer platform can help simplify business operations by providing a single source of truth where all customer interactions and data are organized and tracked in one place. This can save time and reduce the need to duct tape multiple software together. HubSpot also offers AI-supported features to help automate messaging and identify the best type of communication for each customer. The goal of the podcast is to reach top 10 status in the business category with a listener base of 100,000 per episode. To achieve this, the podcast will be leveling up with the help of HubSpot's resources, including a dedicated researcher, recaps and summaries across various platforms, and potential live shows on social media.

    • Sharing unique perspectives, even if met with criticism, is essential for growing an audienceSharing bold opinions and original ideas, even if met with criticism, is crucial for building a notable presence online.

      Sharing unique and bold perspectives, even if they may be met with criticism or backlash, is an essential part of growing an audience and sparking meaningful conversation. This was evident in a Twitter thread where a user's perspective on investing reached millions, despite some people misinterpreting the post and criticizing the user. The user, Sam, clarified that the thread was meant to be a joke and that he was simply sharing an interesting perspective. Despite the backlash, Sam learned that taking risks and sharing original ideas, even if they are met with disagreement, is a crucial aspect of building a notable presence online. Additionally, Sam emphasized the importance of not always agreeing with or sharing only reasonable and agreeable content, as this can lead to a lack of engagement and growth. Instead, it's important to put forth bold opinions and original ideas, even if they are met with criticism or hate.

    • Negotiator as a Service: Expert Car Negotiations for SavingsNegotiator as a Service offers expert negotiations, saving clients an average of $4,219 per purchase in the car industry. This model can be applied to various industries for effective and time-saving negotiations.

      There exists a unique business model called "Negotiator as a Service" where a person negotiates car purchases on behalf of clients, offering a money-back guarantee. This service, as discussed in relation to Inside Carbuying.com, can save clients significant amounts of money, potentially averaging $4,219 per customer. The appeal lies in the negotiator's expertise, dedication to finding the best deals, and the incentive to secure the best possible price for the client, unlike traditional car brokers. This model, although simple, can be applied to various industries and services, such as software negotiations. While the specific business mentioned may not be endorsed, the concept of Negotiator as a Service holds potential for addressing the pain points of time-consuming and often ineffective negotiations.

    • Exploring Cost Savings Opportunities for Individuals and CompaniesBusinesses like Buyer.co and Main Street negotiate costs for clients in various sectors and could expand to car expenses, software costs, parking tickets, venture capital negotiations, apartment or house rentals, and refinancing. They save clients time and money and generate revenue through fees.

      There are various business opportunities in negotiating and saving costs for individuals and companies. Two companies, Buyer.co and Main Street, have already established themselves in this space by negotiating costs with suppliers and finding tax savings, respectively. These businesses could be expanded to other areas like car expenses, software costs, parking tickets, venture capital negotiations, apartment or house rentals, and refinancing. The key is to provide a valuable service that saves clients time and money while handling the negotiation process. These businesses could potentially generate significant revenue through charging a fee for their services. Additionally, there's a growing market for such services, as many individuals and companies may not have the expertise or resources to effectively negotiate on their own.

    • Streamlining tasks for savings and improved outcomesOutsource or automate tasks like mortgage refinancing, salary negotiation, and parking ticket disputes for time and cost savings, and potentially better outcomes.

      There are various ways to outsource or automate tasks that save time and effort, allowing individuals to focus on more important aspects. For instance, refinancing a mortgage can be simplified by hiring a professional to handle most of the process. Negotiating higher salaries can be improved by learning the skill or hiring a professional negotiator. Additionally, there are apps and services that can help fight parking tickets or even negotiate salaries, making the process more efficient and potentially cost-effective. Overall, these methods can lead to significant savings and improved outcomes, making them valuable tools for individuals looking to maximize their resources.

    • Unique Digital Collectibles: Understanding NFTsNFTs are digital assets representing unique items, valued for their scarcity and collectability, with NBA Top Shot selling $45M in 24 hours and $164M in 30 days, despite potential wash trading, indicating investor belief in the NFT market.

      Non-Fungible Tokens (NFTs) are a type of digital asset that represents unique items, unlike cryptocurrencies which are identical. The value of NFTs comes from their scarcity and the enjoyment of collecting them, similar to physical collectibles like baseball cards or Beanie Babies. NBA Top Shot, an NFT marketplace, has seen explosive growth, selling over $45 million in the last 24 hours and over $164 million in the last 30 days. Despite skepticism around potential wash trading, the platform has raised a $2 billion valuation, indicating significant investor belief in the NFT market. NFTs gained popularity with the launch of CryptoKitties, a digital collectible game featuring unique virtual cats. NFTs are more like collectible items than fungible cryptocurrencies, as each NFT is unique and cannot be swapped for another.

    • Exploring the Rise of Non-Fungible Tokens (NFTs) as Digital CollectiblesNFTs are unique digital items, such as art, music, videos, and moments, that can be bought and collected, with value derived from scarcity and collector demand. Ethereum is a popular platform for creating these digital collectibles, and the market is growing rapidly, with over $730 billion in sales in the last 30 days.

      We're witnessing a new trend in the digital world with Non-Fungible Tokens (NFTs), which allow people to buy and collect unique digital items, similar to physical collectibles like Pokemon cards or Beanie Babies. These NFTs can range from digital art, music, videos, and even moments in sports history. The value of these tokens comes from their scarcity and the demand from collectors. For instance, a LeBron James dunk highlight sold for $1.8 million, making it the most expensive NFT ever sold. This trend has gained significant traction, with Ethereum, the second-largest cryptocurrency, being the platform of choice for creating these digital collectibles. One popular example is Top Shot, which partnered with the NBA to create digital collectibles based on basketball highlights. The market for NFTs is growing rapidly, with over $730 billion in sales in the last 30 days. However, the display and showcasing of these digital collectibles present a challenge, leading to opportunities for businesses to create simple and elegant solutions for digital art and NFT displays.

    • Buying and Selling NFTs for ProfitSpeaker bought a Kobe Bryant NFT for $824 and sold it for $8,000 in 20 days. Unique digital art pieces on Nifty Gateway can bring significant profits. Potential for further gains by buying and selling other NFTs, like those by Boss Logic and Micah Johnson. Nifty Gateway, owned by Winklevoss twins, offers authenticity and uniqueness.

      The world of digital art and Non-Fungible Tokens (NFTs) is a new and rapidly growing market where artists can sell their unique, one-of-a-kind pieces directly to buyers for significant profits. The speaker shared his experience of buying a Kobe Bryant NFT created by artist Boss Logic for $824 and later selling it for $8,000 within 20 days. The NFT, called "Forever Mamba," was sold on Nifty Gateway, a platform similar to eBay for crypto collectibles. The artist made over $400,000 in sales during the initial release, and each piece is truly unique, meaning the owner has the original and cannot create copies. The speaker also mentioned the potential for further profit by buying and selling other NFTs, such as one created by former baseball player turned artist Micah Johnson. The Winklevoss twins, known for their involvement in cryptocurrency, own the platform Gemini, which acquired Nifty Gateway. Overall, the speaker's story highlights the potential for substantial financial gains in the NFT market, but it also emphasizes the uniqueness and authenticity of these digital art pieces.

    • Revolutionizing Art World with NFTsNFTs enable transparent, secure, profitable platform for artists to sell digital creations, track ownership, and earn royalties. Sales reach millions monthly, and NFTs can represent various digital collectibles for significant profits.

      Non-Fungible Tokens (NFTs) are revolutionizing the art world by providing a transparent, secure, and profitable platform for artists to sell and earn royalties on their digital creations. The discussion highlighted the rapid growth of NFT sales, with some platforms reporting millions in sales every month and even reaching billion-dollar milestones. The unique feature of NFTs is that they allow for ownership and provenance tracking through the blockchain, ensuring artists are fairly compensated for their work. This public and transparent marketplace also allows for easy buying, selling, and trading of NFTs, making them a valuable and potentially profitable investment for collectors. Additionally, NFTs can represent various digital collectibles, not just one-of-a-kind pieces, and can be sold for significant profits. The potential of NFTs extends beyond art, and celebrities and influencers are also jumping on the bandwagon. Overall, NFTs represent a significant shift in the way digital assets are bought, sold, and valued, and their impact on the art world and beyond is undeniable.

    • NFTs: The New Revenue Stream for ArtistsNFTs offer artists a new way to monetize their digital creations, but potential investors should be cautious due to market volatility and the ease of creating and flooding the market with NFTs.

      NFTs (Non-Fungible Tokens) have gained significant attention and value in the digital world, with high-profile figures like Logan Paul making substantial sales through NFT drops. However, the value of these digital assets could be subject to market volatility, as there's a potential for a hype bubble due to the ease of creating and flooding the market with NFTs. Despite the potential risks, NFTs offer an exciting new revenue stream for artists, with platforms like Nifty Gateway and Open Sea providing various options for buying and selling these unique digital assets. Whether it's a picture of an artist, a pixelated hamburger, or even a domain name, anything can be tokenized and sold as an NFT. As the market continues to evolve, it's essential to approach NFT investments with caution and a solid understanding of the risks involved.

    • Exploring the World of NFTs: Digital Collectibles and ArtNFTs are digital assets, such as art or collectibles, bought and sold using cryptocurrency. The market for NFTs is growing rapidly, with artists releasing music and clips as tokens. Companies are creating marketplaces and frames to display and connect NFTs to Ethereum wallets, meeting a high demand.

      NFTs (Non-Fungible Tokens) are digital assets, such as art or collectibles, that are bought and sold using cryptocurrency. One popular example is CryptoPunks, which are digital collectible figurines selling for tens of thousands of dollars, often paid in Ethereum. The market for NFTs is growing rapidly, with artists releasing music and clips as tokens for fans to own. The opportunity lies in creating marketplaces and frames specifically designed for NFT collectors, as there is currently a high demand for ways to display and connect these digital assets to their owners' Ethereum wallets. A company like Infinite Objects, which offers Wi-Fi-connected frames for digital art, is an example of a solution to this need. Overall, the NFT market represents a significant shift in the way we value and collect digital content.

    • NFTs revolutionizing art world with unique, verifiable digital artArtists can sell digital art as unique, collectible NFTs, providing collectors with a tangible, verifiable piece. Beeple's success with infinite object showcases potential limitations and future developments.

      NFTs (Non-Fungible Tokens) are revolutionizing the art world by allowing artists to sell digital art as unique, verifiable, and collectible items. The speaker highlighted Beeple, an artist who made a significant profit through an NFT drop, selling both the digital and physical versions of his art. The physical version, an "infinite object" from Infinite Objects, is a forever-looping video imprinted and sealed, reminiscent of Harry Potter's moving portraits. The speaker admired this innovation but noted its limitations, such as the inability to display multiple pieces in one device and the size of the product. The value of NFTs, like traditional collectibles, lies in their rarity and the belief in their worth among collectors. The speaker also mentioned the potential for future developments, such as rotating frames for displaying multiple NFTs. Overall, NFTs represent a new way for artists to monetize and distribute their digital creations while providing collectors with a tangible, unique, and verifiable piece of art.

    • Understanding the Differences Between NFTs and BitcoinNFTs provide scarcity and value to digital assets, but operate on a smaller scale compared to Bitcoin, which functions as a digital financial system. Not everything created as an NFT will hold value.

      NFTs (Non-Fungible Tokens) should not be compared to Bitcoin in terms of value or significance. While NFTs provide a way to create scarcity and value for digital assets, they operate on a much smaller scale compared to Bitcoin, which functions as a digital financial system. Coin Market Cap, a website that displays cryptocurrency price information, is an interesting example of how something that started as a simple idea can grow into a major player in the crypto space, surpassing the traffic of established institutions like The Wall Street Journal. The speaker's personal opinion is that NFTs offer a unique way to make digital things scarce and valuable, but not everything will hold value. The conversation also touched upon the importance of scarcity in the digital world and how crypto is unlocking new opportunities for artists and creators.

    • From data aggregator to $400 million crypto companyEntrepreneurs can capitalize on crypto market needs by providing essential services or tools, even if the market is volatile or secretive.

      The crypto industry, much like the gold rush of old, presents opportunities for businesses that provide essential services or tools to those participating in the market. The discussion revolves around a mysterious crypto company, which started as a simple data aggregator and grew into a significant business. Despite its secrecy, the company's significance was such that it was reportedly sold to Binance, a major crypto exchange, for $400 million. The company's success can be attributed to its "picks and shovels" business model, providing valuable information to crypto enthusiasts, rather than attempting to mine or speculate on the crypto market itself. This episode underscores the potential for entrepreneurs to identify and capitalize on the needs of a growing market, even if the market itself is volatile or shrouded in secrecy.

    • Creating informative platforms in hot industriesIdentifying hot industries and creating data-driven platforms can lead to significant traffic and potential revenue by offering valuable and easily accessible information.

      Identifying a hot industry or niche and creating an informative, data-driven platform can lead to significant traffic and potential revenue. The speakers discussed various examples, such as DeFi Pulse aiming to be the CoinMarketCap for NFTs, Charitable providing real-time COVID-19 case data, and Chartable focusing on podcast analytics. These platforms thrive by offering valuable and easily accessible information, attracting massive audiences, and, in some cases, monetizing through ads or other means. The potential for success lies in understanding the market demand and delivering a high-quality, user-friendly experience.

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    Episode 595: Anand Sanwal ( https://x.com/asanwal ) joins Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) to reveal his playbook for building an insanely profitable data business.  — Show Notes: (0:00) Anand’s data arbitrage playbook (9:51) Starting weird as Chubby Brain (12:03) Don't run 100mph in the wrong direction (14:53) Edge, Collection, and Opportunity (19:24) IDEA: High-end Glassdoor (27:00) IDEA: C-Suite Head Hunting Service (28:57) IDEA: HomeOptions for Founder Exits (32:17) Anand's School of Entrepreneuring (36:03) Learn how to think, not what to think (38:18) The Die-At-Your-Desk Life Philosophy (39:26) Competency-based curriculum (42:47) IDEA: Slime Museums (46:40) IDEA: Autonomous HOA Convenience Stores (51:32) IDEA: Online Addiction Centers (58:51) Leadership lessons from legendary coaches — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • CB Insights - https://www.cbinsights.com/ • Bloomberg article - https://tinyurl.com/32ns9beu • Blackbaud - https://www.blackbaud.com/solutions/total-fundraising-solutions • HomeOptions - https://www.homeoptions.com/ • IMG Academy - https://www.imgacademy.com/ • American Addiction Centers - https://americanaddictioncenters.org/ • Weapons of Mass Instruction - https://tinyurl.com/49s6xhpk • Chasing Perfection - https://tinyurl.com/46hc5zxj • The Score Takes Care of Itself - https://tinyurl.com/4v6k72h3 • The Talent Code - https://tinyurl.com/4h2z9yer • The Learner Lab - https://thelearnerlab.com/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
    My First Million
    enJune 11, 2024

    The GameStop Guy Has Returned… (And Has A New $210M Bet)

    The GameStop Guy Has Returned… (And Has A New $210M Bet)
    Episode 594:  Sam Parr ( https://twitter.com/theSamParr ) and Shaan Puri ( https://twitter.com/ShaanVP ) explain what’s happening with GameStop AGAIN and how Keith Gill turned $56k into $210M with memes.  — Show Notes: (0:00) Roaring Kitty's $200M GameStop holding (8:41) Is Keith Gill the most genius creator behind a brand? (14:53) Where did the $65M come from? (17:44) The 7 Stages of GameStop FOMO (20:00) Ryan Cohen's activist investments in GameStop, Bed Bath and Beyond  (26:34) Shaan's honest take on paternity leave (31:53) Painting the windows black (35:42) Zach Pogrob's The Year of Obsession (37:03) What's the deal with run clubs right now? (39:19) Sexy faces and sexy paces (42:04) Endurance event businesses (45:06) Opportunity: The suburban Iron Man (51:19) Scott Harrison gives Shaan unsolicited feedback — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • wallstreetbets - https://www.reddit.com/r/wallstreetbets/ • Unusual Whales - https://unusualwhales.com/ • WSJ on Ryan Cohen - https://tinyurl.com/4zue9xps • Wander - https://www.wander.com/ • The Lehman Trilogy - https://thelehmantrilogy.com/ • The Year of Obsession - https://tinyurl.com/4nsrh689 • Nick Bare - https://www.instagram.com/nickbarefitness • RAWDAWG - https://www.instagram.com/rawdawgrunclub • River - https://www.getriver.io/ • 29029 Everesting - https://29029everesting.com/ • Rock n Roll Running - https://www.runrocknroll.com/ • thespeedproject - https://www.instagram.com/thespeedproject • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — Enter to win a free trip at https://www.wander.com/mfm and use code MFM300 at checkout for $300 off your booking. — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
    My First Million
    enJune 07, 2024

    25 Years Of Founder WISDOM In 55 Minutes (ft. Jason Fried)

    25 Years Of Founder WISDOM In 55 Minutes (ft. Jason Fried)
    Episode 593:  Sam Parr ( https://twitter.com/theSamParr ) and Jason Fried ( https://x.com/jasonfried ) open up about personal finances, raising kids around wealth and dealing with risk.  — Show Notes: (0:00) Sam and Jason play Would You Rather... (5:15) Loosening the grip on the stick (12:35) The pale blue dot (14:03) Why does the businessworld deserve our best lessons? (18:30) Early days vs. vs. middle days vs later days (24:47) "A founder's job is to inject risk" (29:36) “Cool wears off but useful never does” (31:07) Striking balance with a business partner (34:14) The value of talking about money (37:28) Navigating luxury with kids (40:08) Midwestern values on blast (43:39) The truth about luck (46:55) Staying up vs. staying off (49:45) New insights from old biographies — Links: • [Steal This] Get our proven writing frameworks that have made us millions https://clickhubspot.com/copy • The Most Important Thing - https://tinyurl.com/9ym3xw5b • Peter Lynch books - https://tinyurl.com/2nf87pzb • The Pale Blue Dot - https://www.planetary.org/worlds/pale-blue-dot • The Messy Middle = https://tinyurl.com/2paw5jmk • Sam’s List - http://samslist.co/ • Newspapers.com - http://newpapers.com/ • Pessimists Archive - https://pessimistsarchive.org/ • Grab HubSpot's free AI-Powered Customer Platform and watch your business grow https://clickhubspot.com/fmf — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth — Check Out Shaan's Stuff: Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
    My First Million
    enJune 05, 2024

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