Keynote Saturday | A Glimpse Into The Blockchain Revolution

The currency of the modern world is attention, and understanding how to effectively capture and utilize it is key to personal and professional success. Gary Vaynerchuk, in his GaryVee Audio Experience, emphasizes that attention is the common denominator for everyone, regardless of their profession or personal goals. He argues that many businesses and individuals have been focusing on potential reach rather than actual consumption, and the shift towards recognizing and respecting today's attention is crucial. Vaynerchuk also discusses the evolution of the web, from Web 1 to Web 3, and encourages embracing new technologies and platforms, such as TikTok, to reach and engage audiences effectively. Ultimately, he emphasizes the importance of being adaptable and attentive to the changing digital landscape.

Fear and comfort can hinder our ability to adapt to new technologies and opportunities, but it's essential for individuals and businesses to stay informed and embrace change to succeed in today's rapidly evolving world. The speaker shared personal anecdotes about people who resisted new technologies like pagers to smartphones or social media platforms, but eventually adopted them. He emphasized that entrepreneurs and business owners often move faster because they have no choice and their livelihood depends on it. The speaker encouraged the audience to recognize when they're putting their heads in the sand and missing out on opportunities, and to embrace the change towards a web 3 world, which is already starting to take shape. It's important to remember that technology and opportunities evolve faster than ever before, and those who adapt and embrace change will be more likely to succeed.

The technology behind Web 3, such as blockchain and cryptocurrencies, is here to stay regardless of market fluctuations and public opinion. While there may be hype and noise surrounding specific projects and investments, the underlying technology is not swayed by these factors. It's important for individuals and organizations to educate themselves about Web 3 technologies and consider how they can adapt and evolve to stay relevant in the coming years. For some, this may mean actively pursuing new opportunities and making a career change. For others, it may mean being cautious and staying informed to protect against potential risks. Regardless of one's approach, it's crucial not to underestimate the impact of these technologies and the changes they will bring. The speaker emphasized that the mistake of underestimating the potential of previous technological innovations, such as the internet and social media, has been made before and should not be repeated.

In the coming years, organizations will favor contemporary marketers and decision-makers who have a deep understanding of consumer behavior over those who have lost touch with it. This trend is already evident as economic stress looms, and corporate executives are seeking out individuals who can effectively navigate the rapidly changing consumer landscape. The speaker emphasized the importance of staying connected to the trenches and relying on common sense intuition rather than relying solely on reports and data. He also highlighted the significance of social media as the infrastructure for communication and the need for contextually relevant content production across various platforms. In today's business environment, producing content that resonates with the specific distribution and audience is crucial for growth, whether it's B2B or B2C. The speaker was surprised by the number of professionals in the room who were not effectively using LinkedIn for content marketing, and he urged everyone to take this key point away from his talk: the importance of consumer-centricity and relevance in driving business growth.

In today's digital age, LinkedIn and TikTok offer significant opportunities for businesses to reach large audiences organically, with relatively low investment in ads, compared to traditional marketing channels like conventions or print ads. However, many B2B marketers are still focusing on these more traditional methods, despite their companies being sales-oriented rather than marketing-oriented. Furthermore, the speaker's personal experience shows that the recent IOS 14.5 update has led to a resurgence in interest in Facebook advertising due to decreased trackability and increased affordability. Ultimately, communication is the key to success in business and understanding its importance can lead to effective marketing strategies in any medium. The speaker's background in history and observation of coup d'etats as a child gave him an intuitive understanding of communication's power in shaping events, which is still relevant in the business world today.

The emergence of new technologies, such as blockchain and NFTs, has the potential to revolutionize the way we interact and conduct business, much like social media did in the last decade. However, many people underestimate their power and significance, often based on limited knowledge or misconceptions. This was also the case with social media platforms like Twitter and Facebook in the early 2000s, which were initially dismissed as insignificant, but later proved to have profound impacts on society. Similarly, the consumer blockchain and NFTs are currently in their infancy, and many people have yet to fully understand their potential. But as history has shown, those who embrace new technologies early on can reap significant benefits, whether it's in terms of wealth distribution, company growth, or simply staying ahead of the curve. So, it's important for everyone to educate themselves about these technologies and not be swayed by misconceptions or skepticism. The opportunities for innovation and growth are immense, and those who seize them will be the ones who shape the future.

NFTs (Non-Fungible Tokens) are the next evolution of collectibles and will become an integral part of our society. Just as the invention of the canvas revolutionized art, NFTs offer better technology for things we already do, such as collecting tickets or owning digital art. The speaker uses the example of QR codes, which were once seen as a failure but are now an essential part of our daily lives. In the future, NFTs will transform everyday items like airline tickets into digital assets that can be bought and sold as collectibles, generating revenue for the issuer and IP creator in perpetuity. This technology has the potential to revolutionize industries, from sports and entertainment to corporate social good initiatives, and could have been a game-changer even 75 years ago if it had existed then. Ultimately, NFTs offer a new way to monetize digital content and create a more sustainable and equitable economy.

The blockchain technology behind NFTs (Non-Fungible Tokens) is a game-changer, acting as a decentralized digital ledger that verifies ownership of digital assets. This technology, which is not the internet but a separate invention, is set to revolutionize industries and is already being embraced by the younger generation through platforms like Roblox, Minecraft, and gaming. However, not all NFT projects will be successful, with 99% expected to fail. To navigate this space, it's crucial to do thorough research and education, just as one would have done before investing in the early stages of the internet. So, instead of making fun of NFTs, consider the potential impact they could have on various industries and the future.

NFTs and the consumer blockchain represent a significant opportunity for businesses and individuals alike. By utilizing digital assets to enhance customer experiences and create new revenue streams, businesses can shift from one-time sales to recurring subscriptions. This not only benefits the business by providing a steady income, but also allows for the creation of exclusive events and experiences for subscribers. Additionally, the use of blockchain technology enables businesses to identify and engage with their customers directly, creating a more personalized and interactive relationship. The speaker emphasizes that this technology is the next big thing since the internet and social media, and encourages everyone to embrace it rather than miss out on potential opportunities, as many did with previous technological revolutions.

The current state of the tech industry, specifically during this period of market hype and speculation, is causing confusion and leading to questionable behavior due to the vast amounts of money involved. However, for builders, technologists, and those who truly understand the consumer's needs for the next 20 years, this is an exciting time. It's important to remember that during the early days of the internet in the late 1990s, many companies went public with astronomical valuations despite having no revenue. The world recognized the potential, but the technology and consumer readiness were not yet mature. Many of those companies eventually went bankrupt. Today, we're closer to the maturity of the metaverse and other emerging technologies, and the next five years could see significant growth in related industries. But as history has shown, not all companies will succeed, and it's crucial to understand the timing and consumer readiness.

The current state of the internet, specifically the use of social media, Discord, and the blockchain, collectively referred to as Web 2.5, is a prime opportunity for individuals to educate themselves and execute on the potential of decentralized technologies. The speaker encourages everyone to not rely on external sources for information, such as mainstream media or Internet friends, but instead to take the initiative to learn about Web 3 and its decentralized offerings. He believes that accountability is the foundation of happiness and that the decentralized nature of the blockchain will allow individuals to regain control over their online experiences and ultimately lead to a more accountable and happier society. The speaker's call to action is for everyone to use this summer season to research and explore Web 2.5 technologies and take advantage of the opportunities they present.