Space Summary
The Twitter Space Degen X @eesee_io : Co-creating the Future of Consumer Crypto hosted by DegenDistillery. Degen X and @eesee_io are at the forefront of reshaping the consumer crypto landscape within the spirits industry through innovation, risk-taking, and strategic partnerships. Their discussions delve into the importance of community building, global collaborations, and blending tradition with forward-thinking approaches. Embracing creativity, experimentation, and decentralized models, they aim to redefine consumer experiences and drive unique brand interactions. By navigating the intersection of crypto technologies and traditional practices, they seek to co-create a future where innovation thrives, and consumer expectations are exceeded.
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Questions
Q: How do collaborations with companies like @Brewdog & @Google impact consumer crypto?
A: Partnering with established brands enhances credibility, resources, and opens new pathways for innovation.
Q: Why is community building crucial in the spirits industry for consumer crypto?
A: Communities foster creativity, feedback, and support vital for shaping consumer preferences and experiences.
Q: What role does risk-taking play in driving innovation in consumer crypto?
A: Embracing risk allows for experimentation, learning from failures, and catalyzing groundbreaking developments.
Q: What benefits can partnerships with global creators bring to the spirits industry?
A: Global collaborations bring diverse expertise, cultural insights, and fresh approaches to product development and marketing.
Q: How important is it to blend tradition with innovation in the evolution of consumer crypto?
A: Balancing tradition with innovation preserves authenticity while propelling industries forward with cutting-edge solutions.
Q: How can the integration of crypto technologies redefine consumer experiences in the spirits industry?
A: Crypto technologies offer new ways to engage consumers, enhance transparency, and create unique value propositions.
Q: What are the key attributes of successful collaborations in the consumer crypto space?
A: Successful collaborations thrive on mutual trust, shared goals, transparency, and a commitment to mutual growth and innovation.
Q: How does consumer crypto differ from traditional industry approaches in product development?
A: Consumer crypto emphasizes community involvement, decentralized models, and innovative strategies compared to traditional top-down approaches.
Q: What potential risks come with co-creating in the consumer crypto sector?
A: Challenges include regulatory uncertainties, market volatility, security concerns, and the need for robust risk management protocols.
Q: How can the spirits industry leverage crypto to create unique brand experiences?
A: By integrating blockchain, NFTs, and digital assets, brands can offer exclusive experiences, traceability, and authenticity to consumers.
Highlights
Time: 05:10:25
Global Brand Partnerships Exploring the impact of collaborations with @Brewdog & @Google on consumer crypto innovation.
Time: 06:21:18
Community-Centric Innovation Discussing the importance of community building and feedback in shaping consumer preferences.
Time: 07:35:40
Risk-Taking for Breakthroughs Embracing risk and experimentation to drive novel solutions and disruptive developments.
Time: 08:45:12
Balancing Tradition with Innovation Navigating the fine line between preserving industry heritage and embracing crypto-driven transformations.
Time: 10:02:30
Creative Partnerships Exploring unconventional collaboration models that spark creativity and redefine consumer interactions.
Time: 12:15:01
Crypto Technologies Integration Unlocking the potential of blockchain and NFTs to revolutionize brand engagements and consumer experiences.
Key Takeaways
- Collaboration with global brands can drive innovation and credibility in the consumer crypto sector.
- Building a community of creators and innovators is essential for co-creating in the spirits industry.
- Embracing risk-taking can lead to breakthroughs and unique opportunities in the consumer crypto space.
- Partnerships with industry giants like @Brewdog & @Google can open doors to new possibilities and resources.
- Consumer crypto is not just about products but also about creating experiences and fostering relationships.
- Innovation thrives in environments that encourage experimentation, openness to new ideas, and pushing boundaries.
- Engaging with a diverse global community brings fresh perspectives and enables cross-pollination of ideas.
- Balancing traditional industry practices with crypto innovation is pivotal for sustainable growth and adaptation.
- Exploring unconventional avenues for collaboration can spark creativity and unconventional solutions.
- Redefining consumer interactions and experiences through the integration of crypto technologies.
Behind the Mic
Day Turns into Conversations
Day turns into meat at my place turns into you and me drinking rose turns into how did you sleep? Turns into it's been a week. Turns into gave you a key turns into conversations talking about what a week? I found a day when I wasn't even looking for a thing I keep thinking about it in my brain how I'm supposed to know how deep I fall suck up in my arm, I beat didn't mean to take that leap my fault. How I'm supposed to know how be. How I'm supposed to know how be I fought.
Mystery of Heartbeats
How'd you make my heart skip beat? Didn't mean to take that leap my fall. I ain't saying I ain't into this. I'm thinking we can slow it down a little bit in your place. But I'm feeling like I live in it. Butterflies in your stomach got you giggling? Do you really see it together? I think so. Are you gonna love me forever? I don't know, girl. If it was up to me I'd take a time machine come back and tell you exactly where this goes how I'm supposed to know how beat I fall? Look up in my arm I beat.
Reflections on Connection
I beat didn't mean to take that leap my fault. How I'm supposed to know how beat I fall? How do you make my heart skin beat? Didn't mean to take that leap my fault I found a thing when I wasn't even looking for a thing I keep thinking about it in my brain how I'm supposed to know how deep I fall stuck up in my arm I beat didn't mean to take that leap my fault how I'm supposed to know how deep I'm supposed to know how to be how do you make my heart get me the day that leave my ball in my ball house wasn't goddesse.
Checking In and Future Visions
Gm gm how we doing out there? Doing good. Glad to be in this space. Jared, how are you doing, man? What's. Where are you calling from? I'm doing good. I am calling from Malaysia, which is, I think, 7 hours ahead of you from the future. So the weather's looking good. Nice, man. I'm actually 1 hour ahead of you in the future. I'm in Tokyo, Japan at the moment, so I can confirm that the future is bright. So you're even more in the future than I am. Wow. That's awesome. The future of consumer crypto, so that's pretty poetic.
Team Introductions
I think we've got Luke as well from our team here. Luke, how are you doing, sir? Good, man. I'm just heading into a meeting so I won't be there full time with you, but yeah, all good. It's busy at hq. You're in Brighton, right? Yeah, that's it, yeah. Mud busy, lot going on. All exciting though. So yeah, excited for the house party on the weekend, getting the last little bits finished up. It's going to be good. Bullish.
Degen House Party Updates
Yeah. For those of you who don't know, we have the Degen house party on the 14 September, which I can see Emmy in the audience has been working hard on the Degen side, but today our topic is around co-creating the future of consumer crypto with degendes theory and EC. So thanks for joining. Look, if you haven't retweeted the space commented, a meme, told your friends about it, bring them in. We are going to have questions at the end so you're able to come up and ask a little bit more about this super exciting partnership.
Bringing Value to Communities
Another one. As DJ Khaled has said, for us on the d and distillery side, no, EC has been working hard on the partnership side too. And really the main focus here is all about bringing value together to you, our amazing communities. So for us to get started, we'll probably do around 45 minutes today, we might push into an hour with questions. I'll be keeping us on time duty with Jared, but let's talk a little bit about who we have up here.
Introduction of Jared
So, Jared, for those who don't know you're a spaces host, a community builder, fleeting web three startups, obviously you're representing easy today. Tell us a little bit more about yourself. And for those who haven't heard of EC, who've been maybe living under a rock, but you know, I'd love to get the elevator pitch from your side as well.
The Start of Innovation
All right, very cool. Just like many people who are working in web three, we all started as a regular little degen, grinding away in discords and telegrams now and reading white papers and all that stuff. And so, guys, if you're listening in and you're passionate about web three, you love how crypto can turn, transform the world and transform owning real world assets like what Degen distillery is doing. Oh, man, I have good news for you.
Opportunities in Crypto
Crypto is a growth industry and, you know, keep on learning, keep on creating content, and then one day, man, you could be on a panel like this, representing a huge company and doing something good in the world. EC is a next-gen launchpad and marketplace for digital assets. Those are your NFTs, your tokens, and we will be doing RWAs very soon. Right now we're working onboarding different chains onto our platform, but that is the elevator pitch for myself and a little bit for easy.
Deep Dive into RWAs
But of course we'll be talking a lot more, going into more depth later on. I love it, man. I think the RWAs topic is obviously something we're really deeply in with Luke and the team on the Degen side, and obviously you guys are EC, so it's pretty obvious why we plan to seed early on this partnership. And as you said, over the coming days, weeks and months, we're going to be articulating a lot more about the integrations and interplay between EC and RWAs and all the dope stuff we've all been working on as builders.
Inspiration from the Community
I love what you said. For those in the audience about starting as a DJ, it really is inspiring to think anybody can make it, as the wag me saying goes. And I think that vibe is still here. Despite bull, despite bear markets, we just keep building and keep pushing. For those of you who don't know me, I'm Jordan. I'm the director of partnerships and immersive at DJ Distillery.
Jordan's Journey
My background is a little different. I started as a real corporate Normie Snor in the management consulting space for about ten years and then I understood the power of blockchain around 2016 2017. Once you put the goggles on, you can't take them off. I then moved into the startup and scale-up space. I've done about six startups and scale-ups now in AI SaaS and web three space and I'm here at Dgen Distillery leading the partnership side, working closely with Sammy, our CEO, and Luke, who's on the call, who I'll introduce because I know he's kind of doing three things at once.
Luke's Multifaceted Role
Luke is a serial entrepreneur. He's a director of web three and creative at DJ and distillery, and his background is in founding ventures web three innovation, and he also has a wealth management background, which is really interesting from a tokenomics perspective. And some of the topics we're going to talk about today are a little bit financial and economic in nature, but really what we're doing at DJ and distillery is creating a first of its kind community.
Partnerships and Collaborations
So we're a spirits lifestyle brand. We've already partnered with BrewDog, which has a $2 billion market cap. For those of you who don't know, Brewdog, they're one of the leading distilleries in the world. They do beer, vodka, all sorts of great things. They help us make the great tasting liquid that is seven, two, one, vodka. And then, of course, our Google partnership has been really wonderful from a brand equity perspective, but also from a tech perspective as we scale out our social distribution model, which for those of you who are on the call, obviously if you want to read the white paper, you can.
Exploring RWAs Use Cases
But we'll be talking a little bit more about that in detail today. In terms of RWAs, we're providing the first of its kind use case, leveraging RWAs. And as we said, EC is the next-gen launchpad for digital assets, tokens, and RWAs. And EC is actually backed by Aminoka brands, which I think is a huge credit to you guys and really shows the seriousness of what you're up to. We have a bit of a structure today.
Consumer Crypto Discussion
There was a great article that was out there called what is consumer crypto? If anyone's read it, I'll send it in the comments here. It's by Abs, xyz. And I think as we're talking about web three, as we're talking about NFTs and blockchain, it's easy for us DJs to kind of lose sight of the fact that our grandparents or our parents or our dog maybe don't understand crypto as well as we do. So we always try to think about this from a consumer perspective.
Understanding Consumer Needs
So how do we consume products and services? But more than that, how do we make it a community-based exercise, which a lot of brands haven't done right? Like if we look at the heritage brands in the alcohol or spirit space, which is where we decided to start things with the seven, two, one, vodka, there really isn't a huge community or experiential aspect around what a lot of these brands are doing, and none of them have thought about RWAs. So that's really what we're going to talk about today.
Setting the Stage
There'll be plenty of questions coming through and plenty of topics that we're going to bring up, but I'm going to start the space. And Jared and Luke, if you're around, I'd love to hear your take on this. What do we mean by consumer crypto? For me, consumer crypto is really about the adoption of any blockchain powered app that can serve not hundreds, not thousands, not millions, but billions of people in their everyday lives for personal use.
Adoption of Consumer Crypto
So if you think about the Internet or smartphones, whether you're in India, Japan, UK, Malaysia, US. You don't really talk about the Internet, right. It's just such a second nature thing for us. So that's what we mean by consumer crypto. Does that definition kind of resonate with you, Jared? Luke?
Early Days of the Internet
For me, like, I've used the Internet when it was super clunky. I don't know if you guys heard of something called dial up, but we used to get onto Internet with this thing called a modem that literally dials you up into the Internet. Like this huge machine that is the size of maybe your cable tv. Oh, I don't think you guys have cable anymore. Like a router, but bigger. And it makes darling noises and then iconic noise. And I've used chat apps, the early ones, Mirc IC, and as such, they are pretty clunky. It reminds me of what blockchain is like today. It's really clunky. You got to know some of those custom settings. You got to code them in. Sometimes the apps are not that easy to use, but it's highly rewarding because there are not that many people there.
Connection Through Early Chat Apps
And then you tend to know each other, especially if people are doing great things. And, you know, fast forward 10-20 years to what we have today. We have telegram. It's super easy to use. It's based on your phone number. We have WhatsApp, we have Facebook messenger, we have x. So it's so easy to use today. And I would say for crypto to have this, what do you call it to be in the consumer space, it'll have to be super easy to use. It'll have to abstract the chain away. Right now, even if you want to purchase an NFT, you have to sign, I don't know, two transactions. And that's pretty. It's too much of a hassle. So if you can just click something and then you can purchase or you can mint with one click, that will be the best. And so I don't think that we are at that stage yet, but we're slowly making our way there.
The Evolution of Consumer Crypto
And I love it. I love following the progress, and I love watching the innovation that we're delivering each and every day as an industry. Totally. Yeah. Well said. And I think there's some pretty great projects out there and businesses out there in web three that are making that happen. And as an ecosystem player, we're all sort of moving towards that. Jarrod, I'd love to unpack what you said a little bit about that future. And I do remember the dial up days. I remember my mom telling me to get off the phone, talking to my little girlfriend when I was 14, sending her love hearts on ICQ and MSN messenger brings us smile to my face. I am in the age group that does remember that. But look, you talked a little bit about making consumer truly sorry, crypto, truly consumer centric and really secondary.
Accessibility of Cryptocurrency
I'd love to hear a little bit more about what you're doing at EC and how you're achieving that goal. Then obviously I can jump into the degeneracy side with Luke. So right now, EC has a platform that is already launched. It's currently on ETh, on Polygon and blast. We are working to onboard Solana and tonight. So what people can do and how we are making crypto Web three more accessible to the consumers is we have on our platform the ability for people to transform their assets into a raffle. So let's say you have, let's say people like to trade trading cards. So let's say you have a Pokemon card, it's a charizard, because somehow of all the Pokemon cards, resorts are the most desired. A charizard card can go from like 1000 to 5000, depending on dollars, depending on the condition.
Innovative Raffle System
And so let's say you have $1,000 card, right? You want to sell it for $1,000. It'll be very difficult for people to find, especially if, let's say someone is a teenager who loves Pokemon, they want to own a rare charizard. So easy makes it easy because someone with the charizard can create a raffle. And instead of selling one charizard for $1,000, they can break it up into 1000 tickets of a dollar each. And someone who wants that can put in a dollar, buy a ticket and have a chance to win $1,000 trading card. Because we do have platforms on web three that are tokenizing trading cards. We can do that with tokens as well. We're making it really accessible for people to get what they desire.
Plan for Future Development
And also if you want to sell your assets, you can also do that on easy, you can do it the other way around. And of course, in our roadmap, we have a few things to make our platform more accessible to people. We're working on a wallet, we're working on integrating rwas in a more meaningful way. And so that's the TLDR of how EC is going to help achieve this goal. I love it. EC making it easy. I actually first came across you guys through Diego Borgo, who I know was an advisor to you. He's our director of brands here at Degenerion. When I heard about your plans for RWAs, it instantly spurred my imagination.
Partnerships and Events
And that's why we're here today on this space, talking about the early days of the partnership that we're setting up. Because obviously what we're doing at DJ is based around RWAs, with our bottle, with our drink token, with our loyalty program. Incredible. That has been believing in what we're doing since day one, who we're so grateful for. And I think just to answer the question on how DJ is helping to achieve this goal, I mean, obviously, to date, as you know, we've run over 15 events in the UK to 700,000 people. That takes the onboarding perspective side of things. We've got our drink token launch coming up, which we're super excited on, and everyone's all hands on deck.
Future Launches and Collaborations
So I think it's pretty obvious to think about how EC and Degendes three is going to be integrating, not just from an architecture perspective. We have to have the blockchain set up and the integrations and APIs and all the fun stuff that you have to do on that side, which Luke can tell you more about, but really from a conceptual perspective. Imagine as we're launching in the US, for example, next in Europe, you can imagine having the ability to have some sort of RWA from DeGeneres theory. And I'm not dropping any alpha here, but obviously we have sold out our drop one of seven, two, one vodka. And people know that there's collectors editions coming.
Personal Perspectives on Collectibles
There's some more exciting, I would say collector side of things. You mentioned the Charizard card. Still have mine, bro. Still have it from back in the day in the schoolyard. I'll chuck it off on EC, we'll see what happens. But I think it's really interesting. Even our Oregon, it's listed. It's impossible to buy an Orego right now unless you're a millionaire or billionaire, which is hilarious. But you can imagine that asset also benefiting from this degeneracy partnership. So, yeah, from my perspective, very excited to tell you all a little bit more as things are built and come to light, as we look at that architecture and integration of both drink and the 721 vodka and all the other cool stuff that we're working on at Degendasuri.
Discussion on Consumer Crypto
Luke, I don't know if you're there, if you're still grinding away in Brighton, but if you wanted to add anything, let me know. Otherwise we can move on to the next topic. Yeah, it sounds like he's occupied. He's probably, like, coding the integration as we speak. He works pretty quickly. Look, I want to break down the topic of consumer crypto a little more. We'll try not to keep this too detailed or too dry. If there's any kind of finance heads in the room, this will tickle your pickle. But most people may have their eyes glazed over it when we go too deep into this topic.
Understanding Consumer Behavior
But from my perspective, it's such a broad definition. It hits on things like human psychology and collecting of things. It hits on things like spending habits. Right. Like how consumers spend their money. And how does crypto adoption occur in that spending habit cycle? So a really easy way to think about this that was actually described in the article that I mentioned that I'm going to post after this space, is that article sort of categorized each phase of spending habits of, in the general consumer space into three. So first you've got discretionary spending. So that's like the first 50 million users, right, that we onboard into crypto. Then you've got necessary spending, then you've got essential spending.
Phases of Crypto Adoption
So if you follow me, I'm going to tell you a little bit more, maybe the TLDR of each of those, and then we'll jump into some questions from the community. But from a crypto sort of as a consumer, I guess, asset class, the initial phase of this crypto revolution is going to be around this discretionary spending. So the first 50 million users and a way to think about that is like leisure spending. So what do you spend your money on in your free time? And so for a lot of us, it may have been NFTs, for others, it might be, I don't know, going to music concerts or working on your hobbies, or it might be on your pet.
Current Landscape of Consumer Applications
But really what we're going to see is a lot of web two applications aren't addressing things that people want to buy. We're going to see a lot of these right now. If you want to raffle an asset like you're doing with EC, there's not really anything that exists in the web two space to do so legally and with contracts in place, you're really starting to look at maybe eBay or something of the sort, which is not exactly the same. And so discretionary spending often revolves around having fun and spending your money on things that matter to you. And at the moment, there's a lot of fees involved, right.
Challenges in Web Two Marketplaces
If you're using something like eBay, a typical payment processor charges a lot like on average, they're charging like 2.9% to 10% on transactions. And the higher the risk profile of the things that you're doing, the higher the fees. So doing business right now in Web two for this type of, you know, discretionary spending stuff is not great. I think it's really interesting to think about building consumer applications that are crypto based on discretionary spending.
Introduction to Blockchain and Discretionary Spending
And we're going to see the first 50 million people onto blockchain. Some examples to make this real. Right. It's things like gaming, it's things like trading, but just looking at things through tokenized culture lens. So turning exchangeable and permanent assets, which obviously rwas fit into so, you know, examples of those things at the moment that exist that fall into that category of discretionary spending would be things like Opensea, magic, Eden, Topshop, Uniswap, even pudgy penguins with digital collectibles. Step and axie. From a gaming perspective, that's really what we mean by consumer crypto and discretionary spending. So we're seeing that right now. That is the current phase that we're in, that 1st 50 million users as we're pushing into the next topic, which is necessary spending. I don't know, Jared, if you wanted to say anything more on that particular topic of the first 50 million on discretionary spending, but I found those sort of three lenses quite useful.
Perspective on Discretionary Spending
Yeah, I feel like most of web three, what we have now is discretionary spending. Like all those meme points that people are buying. That's definitely discretionary, right. You can't use that to do anything excess except speculate. All those nfTs, they're discretionary, right. If you have money, would you buy food or would you buy Pokemon cards? Right. You'll buy food first. So like our nfts are like trading cards and so that's completely discretionary. Certain tokens could be higher up in the, in the ranking. I think we'll talk about that a little bit more later. But I agree. I would just want touch about what you said about fees, right. Even buying certain things, like depending on where you buy it, the fees are very different.
Consumer Experience with Fees in Crypto Transactions
If, let's say we're all talking in spaces now, we're all using x if you try to. I was looking at who to subscribe to because there are some content creators that have really brought me a lot of value and I just wanted to appreciate them with a subscription. And when I tried to do it on my iPhone, it's a certain price. And then I checked on Android and it's a different price. And then the best price is when I got on my Windows computer and I bought it that way. I think Apple has a 30% fee for everything which is insane. And then Android I think has 30% as well. But at a certain value of volume it goes down and then the best is windows. Gotta hand it to Bill Gates, he hasn't monetized his OS that much. I think it has zero fees on PC only the credit card portal charges the fee which is about three or 4%. And in crypto we can definitely see the fees going much lower.
Using Crypto for Subscriptions and Payments
Imagine buying an ex subscription with crypto you only have to pay gas. That is pretty insane. Totally. And depending on the chain maybe very little. And I think that's a great example jared of the power of blockchain and apps and web three generally to help us reach that consumer level of crypto. Thank you for that. That's super interesting. And I know the fees on EC is super competitive and super transparent so I think that's really important as well for the community. Lets jump into the next phase of consumer crypto and thats really where we see ourselves in the next. Im not a futurist so dont quote me on this but we see ourselves in the next few years, hopefully sooner but were building and thats really around necessary spending.
Transitioning to Necessary Spending
So thats the road to 250 million users. And what that means is once you break through your 1st 50 million users the focus then expands into capturing that share of whats called necessary spending. So as you said, whether you're going to buy a meme coin or a charizard or some food, the example of necessary spending is integrating crypto into more aspects of life beyond just what you do in your free time. So this phase consists of apps, things like Defi, deep in software as a service, digital media, digital commerce, and then of course as you mentioned payments as well. So it's a good way to think about it. We've started venturing into that obviously in crypto with the necessary spending piece around Defi and around some digital commerce things and immersive commerce things.
Examples of Necessary Spending in the Crypto Space
But I think that's really a cool lens to do things through. Is that necessary spending piece? So am I paying my rent or am I paying my mortgage or am I kind of promoting my livelihood through crypto? And a lot of people do. Now that's sort of there, but we can definitely argue that's not yet at a level that consumers can access. I mentioned my grandparents, my parents, my dog can't access it yet. But we might get there with neuralink, who knows? But that's really just an example of what we mean by necessary spending. Jared, any words on that?
The Building Blocks of Crypto and Necessary Spending
Yeah, and with regards to necessary spending, what I love about crypto, it's basically like legos, right? You can build on top of all the assets that are in your wallet, let's say, with a drink token, or let's say Degen distillery has in the future some kind of NFT collection. You have those collectors edition bottles, maybe. And if you buy a typical vodka bottle or even the most expensive wine, you keep it in a cellar. And that's all that it does. It doesn't do anything. But if you have a tokenized version of it, let's say one of those legion distillery bottles in an NFT form, you can use the floor price, you can put it on an oracle, and then you can do defi stuff with it.
Using NFTs for Financial Flexibility
So you can actually take a loan on that NFT. Of course not. Financial advice. When you want to do something like this, there's a very big risk. So do it with both eyes open. But all of that is possible with the technology that we are building on right now. The drink token. You can, let's say, put in something like an aave and then take out stable coins or whatever it is that you need to use in your life. So you don't have to sell the drink token. You can still take out the us dollars or the british pounds to buy things that you need. So I think, yeah, we're onto something here for sure.
Orego and Tap Protocol
I can see a few of our Orego holders are actually in the audience, so that's not financial advice, dyor. But obviously that Orego hold onto it because as you know, with our tap protocol, it's going to be worth its weight in gold, paying you monthly recurring revenue and annual recurring revenue as you onboard bars, clubs, pubs, nightclubs, corner stores, anybody who sells vodka. Right, you're going to get a tick of that through the tap protocol. So, super cool example. And I think it's just the beginning for the things that you mentioned around the liquidity of the asset, staking, defi, etcetera.
Further Exploration of Consumer Crypto
All right, we'll move on to the last kind of lens of consumer crypto, then we'll jump into some questions from the audience and the community in the last 1530 minutes. The third is essential spending. So we've talked a little bit about, just to recap for anyone joining the first phase, which is discretionary spending, necessary spending, and the third phase is essential spending so this is where we can imagine the entire world on chain, right? And again, not a futurist, but I'm hoping that comes sooner rather than later. It's definitely in our lifetime. I'm 36 in two days, and so I'm hoping I'll still be living and breathing for the whole world on chain.
Adoption and Consumer Applications
But a way to think about that. Is. The way to think about that is once you've overcome that kind of necessary setting barrier, we really reach that breakthrough adoption. And a big part of the mission at DJN, disturbing. Building this lifestyle brand, this spirits brand, is adoption. It is onboarding of both normies and degens into our ecosystem and all the community and loyalty plays we've been doing and all these amazing partnerships we've been setting up, like with EC. And that's really where we see consumer applications are built around essentials, so users can do everything and anything on chain that they could otherwise do IRL.
Integration of Essential Spending in Daily Life
So we don't need to worry about Ux UI, we don't need to worry about wallets. We don't need to worry about which chain it's on. We don't need to worry about, you know, anything. It's really integrated and seamless, like we see a lot of the Internet is today, though you could argue we're not totally there. And so examples of that stuff that will fit in the essential spending category are things like online banking, getting credit. Obviously, it's tokenization, right? It's Rwas. It's even things like insurance, like buying your travel insurance, which I did to come tokyo, doing that through blockchain, through crypto.
Future Applications of Blockchain in Essential Services
It's even things like data you would have seen blockchain used for medical records around the world. My airline ticket here, I flew with KLM, the dutch airline. Like, I wanted to buy that with crypto, right? But I couldn't. I wanted my ticket to be an NFt, but it's not yet. And so we're seeing some cool applications of this essential spending in ticketing and events. Obviously, the huge focus on what we're doing in degenerate story, it's even things around like IoT. So that's Internet of things, where we have, for example, I'm in Tokyo, which has got some pretty impressive IoT sensors for things like traffic, earthquakes, things like the volume of people in a store to track retail spending.
The Role of Identity and Democracy in Blockchain
I actually had a call just before this around the topic of identity. So thinking about things like what's my account abstraction for any kind of nerds in the room or single sign on SSO. So we're going to see a lot of interesting things on the blockchain side where the whole world's on chain. And a big topic at the moment. I'm not going to get into politics, obviously, but voting right, democracy, like promoting the sanctity of democracy and making sure that everything is on chain, making sure that we don't have some of the disappointing things we've seen both in the east and the west around democracy.
The Path to Mass Adoption of Blockchain Technology
So that's really the path to success. Right, that's clear. And why haven't we already achieved mass adoption and how do we get there?
The Purpose of Discussion
That's kind of the question philosophically and obviously we're going to go a bit more tactical now into how the EC and DGN partnership will work. But I think that's really where I want to shift the conversation is why haven't we had breakthrough user adoption? I think over the last ten years, consumer adoption has been in the hands of chains that have raised tens of billions of dollars to push adoption further. I'm big fans, obviously, of ETH and Polygon and base and the rest of them, but I think we're going to really have to see more of an ecosystem play where there's this dream that any blockchain becomes the rails of the next generation of this Internet economy. So aligning, almost seeing blockchains like cities where demand is driven by the attractions and the activities that they offer. So seeing maybe polygon becomes the chain for x or, I don't know, base becomes a chain for y or whatever it might be. But we're not going to be talking about chains. We're just going to simply be using blockchain the way that we use the Internet.
Building Around Attractions
Once you have these attractions in a city or on a blockchain, we can then build that city around that attraction is sort of the idea that this article really spells out quite well that I wanted to bounce on there. Any thoughts on that, Jared? It's a pretty big philosophical topic, but it's something that gets me out of bed in the morning, sad and nerdy as that may be. Yeah, I think we haven't been able to, in a sense, go mainstream because of how slow our blockchains currently are. I mean, I don't have the numbers off the top of my head, but, you know, the volume of transactions that go through visa, go to Mastercard, you need to have that kind of transaction happen fast. Right? And Ethereum has been infamous in failing that. And we have Solana, which is pretty fast. But then sometimes when they have high volumes, the blockchain has a history of shutting down. So any kind of payments company with real risk assessment will think twice about adopting on.
The Current Challenges
I think we're getting there. The ETH is scaling in terms of modular blockchains, which I've looked into, and I think that is a very brilliant way of scaling. People can up the speed. It's just like if you have a website and you want it to go at a certain speed, you hire a server and then the server is of a certain spec and if you need more, then you upgrade your server. It kind of makes sense to think of blockchains in that way. Starting out, maybe you don't need it to be so super fast, but then later on, as you grow, you scale that as well. So, yeah, I think the main bottleneck right now is just our speed. We're too slow for sure. I mean, part of my role at Degener theory in partnership is kind of trying to manifest that almost new frontier of consumer crypto adoption with the partnerships that we're setting up, like with easy.
Consumer Crypto Adoption
So one way I like to think about it at the moment is we're sort of today, you mentioned dial up, which I love. We're sort of today, and this is my opinion, and it's also the opinion in the article. It's totally not gospel, but we're sort of in the early two thousands Internet boom, right? In terms of crypto, like, we had the innovative infrastructure companies emerge, we had widespread adoption over time. After sort of ten years of building that foundational infrastructure, then we broke through to the mainstream. And I think we are getting there in crypto. But the narrative around crypto is fragile. We've seen so many headlines that promote uncertainty and nervousness. I talk to a lot of artists, a lot of brands, a lot of musicians, a lot of influencers, and some of them are bullish and some of them are nervous.
Changing the Narrative
They just sort of say, this is not for us right now. And it's sort of our job to remove that reputation of being sort of gambling and financially risky. And I think as more people experience both losses and wins, we're going to see a balance in that and a move away from that kind of meme culture, but not necessarily saying it's not amazing and useful, because I love a good meme, but really changing the narrative around consumer crypto and making sure that everybody can access the benefits to this. So I want to shift gears a little bit here because we're getting to the end of the space and we've been waxing lyrical. A little bit of a TED talk from both of us, Jared, which I appreciate the listeners bearing with. So what we're going to do now is talk a little bit more about the partnership between Degendesuri and EC and how it's going to bring this future of consumer crypto to life.
Details about the Partnership
And obviously, we've talked about RWAs, we've talked about loyalty, we've talked about community. And, you know, offline, Luke and I kind of have a session on linking up, both from a technical, but also from a brand perspective with Diego. To pause there, I'm going to actually open up the community questions now. So if you do have a question about anything we've talked about today, it could be about RWAs, it could be about what we're up to at deed and distillery, it could be about some details of EC. If you haven't checked it out, check out the website. It's linked here on the chat. We've also got Iro week. While we're waiting for questions, hit the request button or chat in the chat. Can you tell me a little bit more about what Iro week is and how easy is involved?
Introducing Iro Week
Jared? Oh, yes. So we have created a new way to launch tokens. I mean, essentially right now, if any of you listening are interested in participating in pre sales, we don't have any token locks. Like as in, you don't have to buy and lock our tokens to participate in our launchpad. Everything is first come, first serve because at this point we've only launched two projects and we've sold them out of. We paused for a month because of market conditions, but now that markets are improving, sentiment is improving. This week we're going to start launching, I think, one or two tokens that have been waiting. Yeah, two tokens this week, both AI tokens, so you can check them out. I'm not going to go over them in too much detail, but basically it's first time, first come, first serve.
Understanding Token Launches
Every wallet has to do KYC, unfortunately, because of the nature of the product that we're offering. So if you don't, if you're not comfortable doing KYC, or if your country doesn't allow you to participate in that kind of launchpad, then I do apologize. But, yeah, do check it out. That's what the iros are. Basically, every wallet gets a certain allocation. Let's say you get to buy ten lots and let's say one lot is $100, right? Let's say you buy all of them. All ten. So each of those lots will go through our platform and then through chainlink we will randomly select an allocation for you. So for example, maybe you will get one x.
How Allocation Works
So you'll get $100 worth of tokens, which is basically what you pay for. You might even get a two x, which is $200 worth of tokens. Or you can even go up to like five or ten x depending on the specific launch. So that is what iros are all about. And what is this about a party that I hear about? I like parties. Tell me about it. I love it. Well, I'm bullish on the concept, right? I think with the drink token launching with the Oregos we've got out, you can imagine the raffling especially concept of things is really exciting to me with collectors edition bottles and all the cool things that we're working on at DGEn.
Upcoming Parties and Events
And in terms of the party, I know we've got Emmy here listening. We do have our house party the day after my birthday. So that's the 14th. That's how I remember it. And that's an exclusive party for our community, VIP's and others. Applications are still open through club dot degenderschool.com I believe, though the guest list is getting quite large. Amy might be able to articulate that. But yeah, please do check out that party. We've also got the Ape Fest Lisbon after party with the mutant guys and novel labs. That's on the 18 October, so check that out. More information is coming. We've got Zebu live in London in October as well. And then of course we've got all sorts of other exciting things planned to which we'll be announcing very soon in multiple geographies at Degendasiri, all looking at drink token, all looking at rewarding our community with the Oregos and the other collections that we have.
Final Thoughts and Gratitude
So super bullish on that we are 1 minute away from our time to end. I'm checking the chat. I haven't seen too many questions. We must have done a really good job or bought everybody to tears. Hopefully the former. But if you have any questions, hit the request button. I want to thank you, Jared, for super interesting space. A lot to come on the Degendesuri EC partnership. So stay tuned guys, on a bit more documentation on a few more spaces coming up and some specifics around how we're going to be using the EC platform moving forward in the degenerate ecosystem. But it's 01:45 a.m. for me, so bedtime is calling. Luke, I know you're still hustling away. Thank you for. For hitting the host button on this.
Closing Remarks
And Jared, thank you, bro, for your time. Yeah, thanks for having us here on this space and hosting us. It's a great pleasure to speak with you, Jordan and Luke, who is stalking us in the background, and get introduced to the gen distillery community. Love to be working with you guys and looking forward to the magic that we will bring into our ecosystems. All right. Love it. Have a great day. Evening. Night. In my case, sleep. Let's rug it. Cheers, fam.
