March 31, 2022

472: How Web3 is Inspiring a Cultural Revolution (with Nick Beato from Blackchip DAO)

There's a massive cultural revolution occurring. And it impacts all of us.


On today's episode of The Brian Nichols Show with Nick Beato from Blackchip DAO:


"There's a massive cultural revolution occurring. We're transitioning from these centralized traditional hierarchy, government structures, these voting mechanisms that, there's only a couple of decision-makers in some of these big businesses.


And it impacts all of us. So we're transitioning, and we've been hurt before we've been lied to before. Centralized authority is, they're bound by, microeconomic variables. Whereas, when you create this pure democratic structure that is a DAO, that's - that's incredibly trustless - it's the only structure that allows for people, complete strangers who have never met, that come from all walks of life to communicate and contribute to satisfy a particular mission.


And you know, we're talking about a structure here that allows for everyone to have a voice... you can make proposals to the community, and you could vote on those proposals. And everyone's equal. And I think it's an incredibly, incredibly new concept for people."

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Transcript

Brian Nichols  
never focus on winning arguments. We're teaching the basic fundamentals of sales and marketing and how we can use them to win in the world of politics, teaching you how to meet people where they're at on the issues they care about. Welcome to The Brian Nichols Show. Well, Happy Wednesday, they're here on The Brian Nichols Show. And thank you for joining us. And of course, you know, another fun filled episode I am as always, your humble host. And today, we're going back to the world of blockchain NF T's and this time we're gonna be talking much like we are talking about the by the Broncos Dow, we're gonna be talking about how you just an average person can go out and buy some of the most rare collectible items out there. Nick Beto from black chip. Welcome to the program. Hey, Ryan,

Nick Beato  
thanks for having me.

Brian Nichols  
Absolutely. Nick, thank you for joining us. And like I mentioned in the intro there, you're helping make a lot of the will say that more collectible art world or beyond that much more accessible for folks. I think right now, this is where the conversation is turning right web three, getting away from the traditional centralized approach to technology now really opening it up to your average person. Nick, let's start off first, before we dig into that, though, with black chip, how you're helping solve the the problems have been out there to actually get people to accessibility. But first, let's introduce yourself to The Brian Nichols Show audience what got you to the point of being founder of Black chip? And what are you seeing as your role here in the web three space?

Nick Beato  
Great. Yeah. Thanks for that introduction, Brian. So you know, I think the web's the web three space is so incredibly innovative. And it's a growing ecosystem every day that trajectory is is off the charts. And so that was one thing that kind of played an intricate piece to why I transitioned into this into this world. I wasn't always in web three. I was originally in financial services, particularly in the hedge fund clients. And so here I was, and but But mind you, I had been in Bitcoin investor back in 2014. So I'm not one of those like home run, home writing, millionaires, don't get me wrong, but I was one of the few that believed in the space early on, you know, and people kind of shied away from that, because it was really used for bad actors and people to hide their transactions. And so you know, some people believed in the the innovation, the technology side, I was kind of more in that same ballpark, but I just didn't really believe it had the potential it had today didn't have many use cases. So for me, I was working about 60 or 70 hours a day, for most of the shows me 6070 hours a week, for majority of the year, and it just wasn't sustainable lifestyle. And so for me, what I wanted to do was I wanted to build something, I wanted to be part of something I wanted to solve a problem in a space that was growing. And I like to throw this reference out. There was a video I saw of Jeff Bezos before he started Amazon. And it essentially pertained to about how he came across a startling statistic that the internet was growing like 90,000% a day. And I don't know if exactly, that's the exact figure, but it was something it was something staggering. And that's what caused him and forced him to kind of quit his job and on Wall Street and create and create Amazon. And so I kind of feel like I had a very similar path. I wanted to be in a place where we're making these assets, these collectibles accessible to everybody. And Brian, you and I probably won't be able to afford you know, exposure to a Ferrari or a Banksy or a board ape, or a cast of MacAllan. But But black ships aiming to solve that that issue right there, you could come from any, any walk of life, you can come from anywhere in the world and be a part of this and own parts of these assets that you typically wouldn't be able to afford. And we're in a in better term, democratizing these collectibles for everyone in the world.

Brian Nichols  
We saw this with the by the Broncos down and it made it really cool, right? Because the Broncos are going to cost $4 billion. And the chances that Brian Nichols or Nick Beto can go out and actually, you know, buy the Broncos on our own slim to none. That means you're going to have a few select people who have the ability to buy $4 billion worth of an NFL team. Unless to your point now we're starting to see that technology is creating an opportunity where yes, you can do a buy the Broncos Dow you can do now the black chip Dow so we're having an opportunity for individuals to kind of do the thing we've always wanted to do. We saw it start kind of in GoFundMe. But we also saw the inherent flaws in GoFundMe, right, especially what happened up in the Canadian trucker protests. So we see that now with web three. It's eliminating a lot of the objections and the concerns that you'd have to overcome when you're trying to institute something like this right. But now, but yeah, exactly. But now it's actually giving us a chance to get all the benefits that we were looking for without those negatives.

Nick Beato  
Exactly. And Brian, let me just I'll just touch on this. In my opinion, there's a massive cultural revolution occurring. We're transitioning from the centralized to your point to these centralized traditional hierarchy, government structures, this, this voting mechanisms that we will, there's only a couple of decision makers in some of these big businesses. And it impacts all of us. So we're transitioning, and we've been hurt before we've been lied to before. centralized authority is, they're bound by, you know, micro economic variables. Whereas when you create this pure democratic structure that is a Dow, that's, that's incredibly trustless. It's the only structure that allows for people, complete strangers who have never met, that come from all walks of life to communicate, and contribute to satisfy a particular mission. And you know, this is this is we're talking about a structure here, that allows for everyone to have a voice, you can make proposals to the community, and you could vote on those proposals. And everyone's equal. And I think it's an incredibly, incredibly new concept for people. And this concept is so different from what we're so accustomed to, because that, like I was mentioning that traditional hierarchy where there's a central authority kind of pulling all the strings and some backroom promises here, it's here with a Dow through blockchain, we have complete transparency, we have accountability for people that you want to make the good decisions, or if you don't, you'll be, you'll be held accountable to those. And, and the great thing about it is because of blockchain, it just allows a greater cross border collective to contribute in these things we don't, we're not restricted to people in the US, or people in China can, you know, are only are only allowed to operate with Chinese businesses. Now, it's just just cross border, if you're an enthusiast, or if you feel that you have a say, or if you really want to contribute into a community, you absolutely can. And and this is the great, this is the great place, because now we're you know, we could have a community where there's someone from Nigeria, or Japan, or Canada or the US, and they could all contribute into this enthusiast community.

Brian Nichols  
So let's make it real. Right. And I think this is where sometimes it gets tough for people because they're like, Okay, Nick, this sounds incredible. And yeah, I would like to get involved but like, what does this entail? How can I actually go from where I am on this one side of the cliff to the other side of the cliff without going down to the chasm and breaking my neck and dying? Because I know right now, people will get terrified of going into this world of web three, I think it's especially because it's on them. Now. It's no longer the deferral of the you know, to the third party, it's now everything lives and dies by you being you and making sure that you're keeping tabs of everything, you need to keep tabs on holding on to your bitcoin wallet, all those little minor details that people would never think of when you're talking to your financial institution or your credit card company. So let's make it real for folks. How do people actually go about and seeing where they are now to actually getting involved with a dial like black chip?

Nick Beato  
Yeah. And yeah, that's exactly it. So So Brian, I will be honest with you and to the listeners out there. There is there is a learning curve, there is a barrier to entry. And I think that's what scares a lot of people, especially the crypto space, they see the volatility and they assume that everything is paired with volatility, whether it's a Dow whether it's a protocol, whether it's a coin, like Bitcoin, or Bitcoin or Aetherium. But yeah, black chip, black chip wants to make it easier for everybody. So it's as simple as it's as simple as making any type of brokerage you would at home, you can go to your you can go to a crypto crypto exchange, like Coinbase, or by Nance depending on where you're located. And you can just very easily make an account, purchase some Etherium. And transfer that Ethereum to a digital wallet. Now, this digital wallet and I think this kind of this is where people kind of get lost in the weeds here. You are your own bank. So the crypto wallet is you have complete control of your funds, you've complete custody over them. Unlike anything else where the bank controls your money, it gets sent off to 1000 Different people on loans or for what for whatever they use the purposes for, but we have pure custody of your cones and you have your coins when you have it in digital wallet. And that's incredibly important because this way you can use you can use it however you'd like. And there's nobody controlling you there's nobody telling you where to put it. But of course that comes with the risk that comes to the risk that you have to protect it you have to take good care of your of your passwords of your wallet and that's and that's just one of the one of the downsides to it but it also comes with the freedom and I'll say this Brian, it's as easy as downloading and making a coin base account purchasing some Aetherium downloading it or transferring excuse me to a digital wallet like meta mask which is the which is probably the most popular digital wallet in the world right now. and just minting the NFT minting the the governance token directly on our site, you could you could purchase the NFT, which essentially has a dual utility where it weren't allowed for governance, you can make proposals, anything involving the community, that entity will essentially allow you to do everything, you'll be part of the membership. And it's just a very simple process because you essentially just bind the Aetherium transferring into your digital wallet, and purchasing that NFT directly from the black sheep.co site. And it's it's a very simplistic process, you can always resell the NFT if you chose that you no longer wanted to be part of the community. But I think the the big piece here is we're creating or creating a unique community. Black Ship is a unique global collective of enthusiasts that want to kind of contribute and own shares of these unique coveted assets that you typically wouldn't be able to afford. Now for me, I think one of my I like cars, I like whiskey. And I like art. So I'm kind of all over the board in the collectible spectrum. But I'll tell you this, there's not many times where in my favorite car is an awesome RDB five which was Brian I'm sure you know me popular by the James Bond movies in the 60s. It's not everyday you'll be able to afford something like that without going completely broke. But a Dow provides that ability and a realistic expectation. And and and to about Sean and the Denver Broncos dow I think they're great. They're a great, great idea. I think that just unrealistic expectations, because it's a lot you're trying to raise a lot of money here, we don't need nearly that amount of money to operate a fully functioning community. And that's what's so great. It's it's a very realistic expectations. It's completely transparent through blockchain. And you know, we're really excited we just want to share with the world.

Brian Nichols  
So how does in this, this is part it just like it makes me laugh is like it sounds like a weird question to ask, but like, how would a collective community be able in this world of Dow right, be able to honestly say share, but like, get equal value to like, the rare bottles of wine, like if I, if I was a billionaire, right? And I had like, you know, the 1971 mirlo, or whatever it may be, and it's like some fancy, you know, beer that's worth a billion dollars? Sure, I might want to break it out at you know, a very, very, very special occasion and pour a drink for guests. Whereas if it was the wine controlled by the DAO, there is no tangible access to the item.

Nick Beato  
So very good question. And the answer to that is there is access to those tangible atoms. So what we want to do is we don't want to just create the the tether between the digital and the physical, we want to be that in real life experience for them. We want if if if the DAO were to propose the acquisition of a particular car, or a Banksy, or an NF T, or that that rare mirlo, that you're you were just using as an example, we'll set up these in real life experiences. So people that are a part of the community can come in and see them, view them, touch them, feel them sit in that car, in that Ferrari that we just purchased, see that Banksia hanging on the wall, because you own it, and you have every right to see it be a part of it. This is this is the community you're a part of. And, and this is not just watch, we're not sitting here, just saying, Hey, you own it on a digital screen, we want to be able to actually showcase and show it off, be proud of it you own.

Brian Nichols  
So you own it, but you still have the other people with you owning it. So I guess, when push comes to shove, you know, let's say, Dow member, you know, 4762, they end up there at this event, and they actually spill that very expensive mirlo On that very expensive car. How does the the shared pain of that loss impact the community?

Nick Beato  
You know, I'll say this, I think the exposure is very small. And that's what makes it so great, because you're the Dow handles all the logistics. And the Dow just basically has to make the decision, what to buy, when to buy, and for how much. And the data, the administrators like myself and my team will will handle all the logistics, whether it's transport, warehouse insurance, we'll handle that all on behalf of the desk, so they don't have to worry about it. But like you said we could be a proposal be made to sell the asset eventually. And that's totally fine. And we'll distribute proceeds, if any back to all the shareholders. So it's it's really it's really a win win. You don't have to worry about any of the nitty gritty, bothersome stuff that you know, essentially can take up a lot of time and nobody really wants to deal with like the logistics of these assets. But we will handle that all and you just pay have to purchase your shares for a small amount of purchase your NF T's for a small amount of money, you get small exposure to all these assets, but you get to say that they're yours.

Brian Nichols  
See, I had to ask the silly question, because I'm sure there's that person out there that was in the audience. They're like, but what if Brian, please ask the what if question I got you, I got you. So let's go beyond where you are right now. And let's see what this can turn into for the future. And I say that because we've been doing a lot of conversations talking about the importance of NF T's and blockchain in the world of cancer research, how it's helping get people out of the silos, now they can share research and work together collaboratively across multiple geographic areas. And in some cases, they were in the same city just weren't talking to each other. So where do you see, I know, it's wild? Where do you see black ship going in terms of where you are now versus let's just give an arbitrary five years from now?

Nick Beato  
Sure. So So back to the beginning, you know, black chip is a VC backed, collectible focused project on the Ethereum blockchain. What we want to do is create a global enthusiast network of people from all walks of life, complete strangers coming together to serve a single mission. And that's to acquire some of the most coveted assets in the world. Right now, we're at a very good point, the code has been built out, we're just trying to build awareness for the project and share it with the world. So in the next five years, Brian, for your question, we'd like to be one of the largest decentralized alternative asset managers in the world because Dows play an integral part not only in their act, their their, in their purchases, but also in their management. And in the history of these assets, we raised the value of these assets is now inherently more because of because of the community that's now played a part in the global recognition of those brands of that particular asset is now is now more valuable because of the project that it's associated with. And that's that that's a true innovation. That is that is decentralized and web three, we're in, we're in a place and black chip. I truly believe that blockchain will show the world how much human potential can be unlocked by open trustless decentralized permissionless engineering. In the next five years, we want to be we want to be that renowned community that everyone acknowledges that everyone knows is one of the biggest asset managers, they're doing something really cool over there. They're there. They're the ones that are out bidding, some of the really, some of the big Millionaire's at Sotheby's or Christie's they're the ones that are out there, acquiring some of the most unique assets, I want to be part of that club. And that and that's what we're going to be doing in the next five years.

Brian Nichols  
There you go. Well, that's exciting stuff. Because we're seeing the the technology catching up with the ideas back to the the original point we were talking about before. So to see where we are now. And you know, I do this a lot, where I just kind of take a step back, I'm in the world of technology, sales, cybersecurity, sales, all that fun stuff. So I kind of pay more attention to the technology than probably others out there do. But one thing that really strikes me there's a show I watch, and it's more. It's like CGI, and how its advanced. And they were doing a deep fake show where they're talking about in about two years ago, the deep fake of Luke Skywalker in the Mandalorian. And it's a young Luke Skywalker, so it'll be after Return of the Jedi. So it's Mark Hamill, probably in his late 30s. I think. And and you see it, you know, it looked like Mark Hamill, but kind of had that Polar Express vibe. It didn't feel 100% Mark Hamill, right. But then fast forward two years, right to today, 2022. And you had the book of Boba Fett, which had a lot of appearances from the Mandalorian characters, and they had another CGI, Mark Hamill for Luke Skywalker. Only they really went into deep fake technology. And it's astonishing how good it looks. And that's in two years and and you can see the just amazing improvement in that little time. Right there on screen. You just watch the videos back to back and you can see how good it's gotten. Yeah. And then I look to where you are, right? What What will the technology be like for you? In two years? What can you then take advantage of to help not only further your mission, but then expand your mission? Right? There's so much that can be happening. And we don't even know what it could possibly be yet, because the technology is just advancing so quickly.

Nick Beato  
It is it is yeah. And that's a great point. And, and it's quite unique because this innovation when it was created, I guess the first when the theorem was created, and it was the first blockchain based software that allowed for the building of decentralized applications. That that was so revolutionary, and we're thinking about in 2017, when that came out, that was five years ago how much the ecosystem has grown. We have all this interoperability between blockchains right now, and that never would have been there never would have been possible those years ago. So so so Brian I mean, to be honest with you, if if I had to if I had to guess what the next five years has in stores, but for daos for projects like mine, and black chip, I think the technology can only advance in the sense where it makes it easier for everybody. Let's break down the barrier of entry. There's there's a lot of hurdles that people have to go through. And for. And, Brian, I'm sure you're a crypto investor, but you have to you have to pay network fees. To allow the for decentralization, you have to play network fees. So these computers can solve their complex math equations to confirm transactions on the blockchain. They they need to be paid, can we streamline that? Can we make it easier? Can we make it cheaper? Can we can we eradicate some of these things that are that are they're keeping us that are keeping us down? Can we change all of big business? Can we change the hierarchy all the business to be sent decentralized, to protect the people to keep the people held responsible and kind of put the power back into those into into the community opposed to a couple of decision makers, let's make a community of decision makers. And and it's interesting, because I don't know what the world I don't know what the future has in store. But I think there's technology is only going to make it easier for everybody. Whether it's to get into the space, whether it's create your own projects in the space. I think you can only get easier now and be born more streamlined. And I'm excited. I can't wait to see it.

Brian Nichols  
The future is exciting. I know. We've had a lot of white pill episodes here in the past few months, a few episodes few weeks. Honestly, I think it's because we're having people like you, Nick who are on the show who are building the solutions that frankly, we need. And if we want to see in this is my liberty crowd, right? If we want to see things get better. The political arm, I see that more as playing defense, we need to be playing offense and we play on offense through the private sector, right? Going through building the new solutions and making the the old laws the outdated laws irrelevant, right? If we can, if we can make the technology get to the point where the bureaucrats can't keep up? Well, I think we're doing our job. So Nick, with that being said, That's my high horse. Let's go ahead and turn it over to you for final thoughts to the audience. Any words of wisdom you want to leave folks with as founder of Black chip IO?

Nick Beato  
Thanks. Thanks, Brian. Yeah, so you know, being the founder of Black chip is has without a doubt, had it's had its ups and downs has been one of the most challenging things ever done. But without a doubt, the most rewarding will be when we're fully funded when there's when there's members of this community from all over the world contributing to our mission. It's going to be an incredible experience. And I hope, I hope you guys see that same value and want to join again, we're black chip that CEO, join us on Twitter at black chip Dow. We're going to be we're going to be in for an incredible ride. And I'm really excited to see where this goes.

Brian Nichols  
Black chip that CEO not IO Brian, I've been working with way too many AI. Very obvious, right, right. That's right. Yeah. My my day job has been working with my, my former boss and VP of sales ops and looking to find a new replacement for one of our outbound dialers and every single company is.io.io So I've been seeing calendar invites.io everywhere, but no black chip.no There we go. Yeah. How about this, Nick will make it easy for folks. All you have to do folks click the artwork in your podcast catcher, it will bring you to Brian Nichols. show.com, where you can find today's episode, including all of Nick's bios, all the links. Plus, you can find the entire transcript from today's episode. And oh, by the way, all 470 That's right. 470 Plus episodes of The Brian Nichols Show, Episode 500 is just right around the corner, we're gonna have a special guest, by the way for episode 500. Nick, I haven't even announced that I only announced that that's going to be happening. But it's going to be happening and you're the first to hear it. And folks, if you want to make sure you're not missing out, make sure you've hit that subscribe button wherever it is. You get your podcasts, Apple podcasts, Google podcasts, Spotify, wherever it may be. Just hit that subscribe button. If you do, hit that Download All button so you're not going to miss again all 470 Plus episodes, you're going to have a lot of awesome episodes to catch up on before we hit episode 500. But with that being said, it's Brian Nichols signing off. You're on The Brian Nichols Show for Nick Beto from black chip. We'll see you tomorrow. Thanks for listening to The Brian Nichols Show. Find more episodes at the Brian Nichols show.com If you enjoyed today's episode, don't forget to subscribe. Want to help us reach more people? Get the show of five star review and tell your friends to subscribe to find us the Brian Nichols show.com and download the show on Apple podcast, Spotify or wherever you listen to podcasts. Follow me on social media at V. Nichols liberty and consider donating to the show at the Brian Nichols show.com forward slash support. The Brian Nichols Show is supported by viewers like you. Thank you to our patrons Darryl Schmitz, Maura Stanley, Mike olema, Michel, Mankiewicz, Cody, John's pregnant caster and the weird Liberty During its network

Transcribed by https://otter.ai

Nick Beato

Founder

Tech futurist and crypto native since 2014 with a focus on Web3 innovation. Founder of VC backed collectible-focused DAO on the Ethereum blockchain.