Speaking NFT: How creators use NFTs to have better conversations

Transcript

for the longest so we started 2018 and for the longest time we didn't really use the term nft with the with the brands we work with for the simple fact that um actually they did not even know what nft meant for the last six months it's really quite quite new we start using the word nft in uh in all presentations because the customers people on the other side actually are actually understand what an ftra they at least they put some sense or some meaning on top of the word nft so here we're going to explain how do we use those nfts to create better relationships between brands and their communities or creators in their communities but also how we for with several examples

how we also create new communication layers so i'll start with with a slightly uh general presentation on how our yani works and then we'll go for three use case when we satoshi studio which some of you might be familiar with i went with breitling which was our first really massive deployment and uh one and i'll come with a slightly more perspective or a new tool we're building called speakeasy so first of all what is aryani so rna really addresses three quick key challenges um the first is your authenticity and transparency and that might be how some of you kind of know us with the idea that first

of all we create an nft that's a digital identity for your product and it serves as a proof of ownership it proof authenticity and records the history of the product the second is really this idea of circularity because once you have this digital identity which is nft based in your wallet you can really keep a transfer this nft this digital passport from from one owner to the next it really facilitates product care it facilitates resale and it facilitates even indian recycling by storing some information on it for fascinated recycling the third aspect and that's the one that is

ultimately the one that brands are the most interested in really all the brands we work with is this idea of customer relationship 3.0 or like crm 3.0 and it's how do you create new relationships like advanced loyalty programs innovation services other exclusive experiences which are respectful of privacy which is actually something extremely important for for brands today because they see it more and more as the next frontier the next luxury uh offering and then the future of luxury for them for a lot of them is anonymous clienteling meaning you do not necessarily need to provide all your your personal information uh in order to get the top service that they actually give you

uh and and that's that's really what we'll we'll try to focus on uh in in the examples in the use cases so what is rna isn't enough solutions for all valuables um so first of all what an nft uh what a an ind digital passport is it's really a unique id for your product it's generated by the brand that's uh well anybody can create can generate an nft we have a verified registry a verified brand registry which really enables uh brands to uh prove that they are who they are and that is all managed by the but our non-profit uh where you actually get uh kind of a check mark if you want like on twitter uh to make sure that when breitling uh

you know when you receive a certificate that says it's breitling it's actually been verified as coming from breitling then um you have the of course that's nft corresponds to the product it's a it's a digital twin uh it includes all the information about the product of course how was bella was created how was um manufa manufactured where everything comes from uh it also um uh enables the at the addition of history uh which we'll see slightly later it's of course transferable so it's freely transferable it's an nft that's on a evm side chain of ethereum and it's freely transferable from one auto to the next which is actually something that brands do understand to a large extent but it was somewhat of a mind shift for

a lot of them meaning they really had to change their mind on that on that subject because giving that full freedom to transfer this proof of ownership was something that they they were somewhat uh scared of but now actually most of the brands all the brands you work with um are find it actually an asset and understand that it's an asset the fact that it's free transferable from one owner to the next and it also carries the history of the product meaning that every time it changes hands of course you you know who the new owner is but we also have a little module grab an nft that is upgradable meaning you can actually add stamps or add events to the product so if your watch gets

serviced you can actually add an event that's time stamped and proves that your product was effectively serviced at this uh at this time which especially in the watch industry is extremely important for the resale value of your product and finally it's really like a private and direct communication channel um and and that's what will meaning you can actually send a message to the current owner of the of the nft at any time and you do not necessarily know who that person is you don't have information about that person however what you have is the certainty that this person is the current owner of your product and that's really ultimately um you need you need all the other elements to to enable this

this last point but that's really the point that brands are extremely interested in it's really what they find revolutionary in here it's like of course it replaces a certificate of authenticity it replaces uh the it gives them a little passport or booklet but really what's really interesting for them is the idea is that concept that since that nft is transferable from one person to another without having to share any personal information they can really communicate with people without having to collect personal information so to to kind of show this in the in the wider context um the blockchain digital identity that we just talked about it's really the idea of a so it's an it's the item's

identity of course and proves its authenticity and gives other specific information about the product it gives all the upstream traceability meaning we don't do we're really not a supply chain our project we work with with supply chain projects most recently ibm actually joined the consortium um for for doing all supply chain traceability we don't actually do this but we incorporate all this information within the uh the actual nft or the digital passport which really proves at least records the information and makes it available uh to to the um the owner of the product then the biggest part really of what happens once you've emitted those those nfts is everything we call it the advanced customer

relationship system and here the idea is because i can tell you own this product or this product i can let you in a special experience i can actually enable you to access some advanced customer services um like the warranty system that will that we'll take a look at with them with breitling which means that at any point you can actually access the services without to prove your identity and just show me what you own and i'll give you access to to this service uh of course we're building new customer experiences done some interesting things with the paris fashion week um a a couple weeks ago uh really with the with accredited participants and of course you have this

this idea which is to us what we really think where where blockchain is uh is the most uh the strongest use case is what we call downstream traceability meaning the traceability after you have actually sold the product we mean once it's in the hand of the of the owner because you get the traceability of what happened to the product and to which you know every time you change hands one of the big things also that that brands are extremely interested is the idea that we enable them today if you're a brand really you you only have access to any any customer that you've or any owner that you've actually interacted with through the e-commerce your e-commerce

platform or through your own retail stores and you don't have any connection with the wholesale the second-hand market or gift the wholesale is like if you sold via you know a la fayette here the brand that actually created the product does not have any contact or any crm a way to contact the actual owner uh what we offer really with the with those digital passport is it put is the possibility to finally access all this market of like people who bought via wholesale people who bought their second hand or gifts that were given from uh from someone who bought the product and then gifted it for birthdays or or others just a little uh clarification on how

we're built and the entire protocol is open source and decentralized and anybody can access it uh we do all updates and we our smart contracts are not updatable all future updates though and we've already had three versions are managed via a non-profit um which has most of the brands that actually work or use the protocol at this moment so you have brands like um vaginal consultant like breitling like of course panerai who are already using the the protocol and you have some some smaller brands also like maybe satoshi studio which you might be uh familiar with if you're in crypto and you also have some brands that are still at the

concept uh phase or at the the uh the pilot project phase and uh and and those are extremely important as well because they're testing and they're really offering us a feedback loop constantly uh to to tell us what are the new things we actually need to have in this protocol and they're the ones decided ultimately what gets added to the new version of the protocol another important part of the people the members of this this nonprofit are our partner members and that's extremely important because while the uh the protocol itself is uh is open source and and anybody can use it you actually need people to create interfaces really to to integrate this protocol within their

their solutions and ultimately that's um that's really one of the things that we're the most interested in and if you are working for one a company that that creates crm or erp systems we're always extremely interested in talking to you because um you know the the breitling project was a collaboration between us and then so tracking everything just implemented the the ind protocol in their their digital identity system and they have an entire platform and having those people really create those interfaces facilitates the adoption by all the different brands of the industry all right so let's go for use cases um before i'll i take questions so

when it comes to use cases um i'll start just with the sim one of the really first one we did which was with satoshi's or one of the first ones we did which was with satoshi studio brand you might be familiar with since it was a pair of sneakers which i'm wearing here who wanted to create a in nft for the the proof of authenticity and proof of ownership of their sneakers the way it worked was that you actually the first version of shoe came with a qr code that was attached which is just a way to to claim the certificate on uh on an app um here it's using the actually the the the app that we provide but anybody can create an app that's just a non-custodial wallet that

enables you to claim your your certificate uh now actually for the qr code they're putting it directly on the shoe uh because they felt like it actually worked quite well in their design and then the first little interaction that was interesting was that once you claim the nft you receive the message from satoshi studio at no point do they know who you are ultimately all they know is the fact that you actually claim for the first time a new product they when you transfer the certificate they keep that message meaning that when they see that a new person is um is is there's a new owner to uh to a product uh they actually send you a message as well and and so you get that instant interaction when you are when you just receive your your

product you don't know when you you know they don't have your email address they don't have any personal information all they know is that you just received that product and so there's a little welcome message and uh and tell you of course you know don't hesitate to contact us if you'd like uh and and that was that was it that was end of 2019 and that was really the first big application that we used since then uh and i'll go for the second uh the the second use case in bit more details the the big thing that we implemented since the beginning of this year uh so since january 1st every writing watch comes with an ie certificate and the what breitling did was really recreate their entire e-warranty system

around the rna certificate and why did it do that is because they're extremely interested in that notion of anonymous clienteling that i talked about their their cto is actually really pushing it extremely hard and publicly the idea of the next frontier for luxury is this idea of being able to serve your customer without actually taking their personal information their their email address uh their their social like social economical background or any of those um so the way the uh the entire uh process goes is that when you get your watch you get a little card which is kind of traditional in in the watch industry to receive a little card that's your

proof of ownership and proof of authenticity with a qr code on it so you scan that qr code and it enables you to download once again the the the nft in the non-custodial wallet that you have on your on your phone and then um you the the the main thing that that that happens is that um on set five on slide five you actually within the certificate and there is the potentiality there is a link that enables you to actually connect directly to the warranty system online and it will without having to the warranty system of rightly if you're not using the certificate actually asks you for to create an account to have an email to have a

password now what you what you do uh is just you click on that link from the from the wallet from from the the passport in your wallet on your phone and automatically it sends you to your e-warranty system without having it only identifies you by the nft that you have in your wallet and then you can start interacting for your warranty system and for your warranty assistance so if you need some repair or there is no there's an issue with your watch you can interact with a customer agent without ever having to provide any personal information the only thing that you're that that why is that important for for breitling it's because they a lot of those luxury companies have issues with uh fakes with people that uh actually

try to get into their their their vip programs without actually having uh you know without really owning a being an actual owner of a watch it's one of the one of the brands we actually talked with explained to me that the their vip system their their registration because it gives access to the vip program of the brand did not have any issues with the with having people register their products uh they had too many people registering products meaning they had more people purchasing products than actual products were sold so people really want that access to this this vip service that the brand actually offers and here the only thing what you get here and what's what's really the the novelty

is this idea that just because you can you own this nft on your on your phone or in your wallet ultimately you can access those uap systems and those and those services that the watch that the brand actually offers the last thing that we're kind of starting to work on is now one of the difficulties that you have with our system today uh is still the fact that we need inter we need to create some easy interfaces for people to manage their their nfts and it's and that's because today even though brands are starting to get interested by nfts it's still not what we find natural

using metamask and all those those tools is still not something that is natural for most of the the those brands customers uh and so we're we're we're starting to have actually some some good use cases with brands but to touch it to really touch a wider public we're extremely interested in of course what happened in the nft space in digital sphere and so we're um and that's what i think we're building we're building and we'll be releasing in september uh is to build the first interface that uses the same underlying protocol that we use for communication between people that own tokens but enabling it with all the tools that you have for um for you know with metamask and

all it in on on polygon and and ethereum uh and using all the targeting the the crypto community um to actually test and and and work with this protocol that we've created for the luxury brands and the idea here is really simple uh it's uh basically it's a token first or cryptofirst kind of telegram where you connect your metamask and it tells you here are all the different rooms that you can access if you uh if you based on what you own in your in your um in your wallet so if you own you know one board api club you could access the board ape yacht club room uh if you own uh x amount of uh sushi swap for our sushi

you could access the vip room for sushi swap then you just connect it with a once again using just your your metamask wallet and you get to uh to talk on on this uh this private room that is only accessible to people where you know that everybody in here actually owns um the same you know the minimum requirement of tokens or nfts so we're we're we'll be starting to to push this um with the crypto community and of course it's something that's i think so a lot of people are talking about it and and and building it um just a few days ago i think avi uh i mean avi announced uh that they were um pushing a a solution on the that uses kind of that similar thing that we're working on meaning

using the social graph that you have with tokens on chain to create new new communication channels and to into and decentralize communication channels what we bring in here on top of that and actually talk with jordan last night and uh and and i think we'll we'll really be looking at what avi is doing on the social graph side what we're bringing is all the decentralized messaging solutions that we have decentralized or um at least some are unchained some are off-chain but always this this notion of how do you send messages without actually just having an intermediary at some point and always being able to to get your your personal information out of the communication of course we're not doing this just for

for the crypto community even though we we love the crypto community we're really doing it because tomorrow really think that this is where the future is going for community management and for for new relationship for brand uh customer relationship management so we think that exactly the same way you will have something where if you connect your wallet uh you and you have x amount of sushi or a board api club in your wallet you will be able to access certain certain rooms tomorrow maybe now we met up probably not with metamask but with the slightly better interfaces which is which is one of the key things that we're working on as well that is much easier to use for for my parents basically uh you will have the same idea i own you know in my wallet i can see i

have a breitling i have uh and i have maybe uh some social tokens from virgil and i want to access those communities i mean i can only access them if i prove that i am a true owner of one of those watches or those social tokens from this uh from this creator or this this person in the in the community um and uh and that we're convinced that that's where we're going um brands are actually extremely convinced also uh the big question is how do we make this you know flawless and seamless uh and uh would be really interested in uh if you any of you are actually interested in in helping out or taking a look at how speakeasy works um definitely reach out uh this is uh this is one of the things that we

will be extremely interested in working on with with anybody who wishes to all right well thank you very much uh i think i've managed to not go over time here you go so good uh vr so you're all my contacts if you want to reach out um you have here a little qr code to download a uh a demo nft uh if you'd like um so you will have today to download the the actual app which enables you which is a non-custodial uh wallet uh you'll be able to claim one of those demo nfts um which is a pure digital uh nft and try to see kind of like what what people are or what people have the basic experience of claiming an nft

uh you can contact me at you know by email website twitter telegram or i guess just look for my board ape on twitter um it's uh it's getting me quite a lot of good feedback lately just because people because i think actually board ape is one of those great examples of how a community uh is um is building around this uh this this notion of owning something and and historically uh it was always you know owning a watch owning a pair of sneakers i think more and more it is true we're going also to those uh those digital communities and i think owning a crypto pine core board ape is probably similar to owning a rolex or or crypto point probably more like a patek philippe or or so or or um

but so once again um if you want to reach out i'll be extremely interested in hearing what um you know if um how you could help us work on this especially speakeasy and now if there are some questions be happy to take them yeah of course um so so it's not that they're not interested meaning there are some that are interested um but then when we talk to a lot of brands especially luxury brands you'd be surprised the amount of kind of cio or no actually that one is clear you know you sort of know

i guess you when you prepare some sort of scenario i guess are you saying that you would this would only work with a luxury brand no i think luxury brands are kind of ahead of the curve here um so and i think there's there's two two different things first is a lot of the cios we talk with in at luxury brands when you and and i won't name names so when you ask them it's like why are you collecting information what are you using it for and a lot of time it's like well because the ceo said that data is a new oil and i need to collect it indeed

indeed so so but but that's that's that's something where they're collecting a bunch of data uh they don't do anything with it because they don't know how to do anything with it uh and and the second thing that that actually some brands about you told us that we stopped collecting data not because um we wanted to provide better service anything because it was a liability for us um there are there's a jewelry brand actually in in hong kong who told me this like we do not collect data on our customers anymore because we're scared of being being leaked and hong kong or hong kong macau all those people that buy luxury goods over there are chinese usually uh you know important or vips and and it's it's been a way to actually uh

kind of target people and smear them by saying oh they they bought this extremely expensive watch so that's also something that they they really tell us and then there is really as i said the the breitling is is really adamant about this is like they really think it's a it's something that's going to come it's a demand from the the customers and it's also something that really fits into their their idea of a new a luxurious experience and now really they say it it's a anonymity or private by design uh experiences are the new luxury that's uh that's that's at least for right-clicking that's it's uh that's one of its model now of course

so um we're starting to look at uh 1155 of course for certain types of product um because nfts well especially one on a on a chain with limited uh bandwidth uh you um are block size you are emitting one nft per per product and you start having when you're starting the scale it's creating some problems for us so yeah using one you know one of many uh solutions is actually something that we're looking into um but and then some usual standards uh i mean the the usual standards but no nothing really novel now those are related to the two main standards that we're using yes

that is an excellent question and we have the possibility to store an ips fps plus our weave uh unfortunately a lot of the brands we work with are like we're not a lot of them but but several of them it's a deal breaker to store information in a place where they actually do not know where the where the information is is located so we had early on to create solutions well which is pretty standard uh ultimately now but where we actually create a hash of the of the file and store it directly into the dnft um the the file with all the metadata uh in order for anybody to be able to replicate that that you know the underlying file and be

able to prove or reconnect if tomorrow the brand you know turns off the rpc server they they use to store the information they can anybody can actually at least have a copy of the file and prove that it's a correct copy in the nft and that was something that when we started 2018-19 was honestly standard now it's actually becoming a standard that's great but i i'm a big believer in ipfs and and using r with on top of it i think really really makes because ipfs alone is is not sufficient you actually need also a layer that incentivizes people to replicate those nodes i replicate the nodes that replicate the data and ipfs with our weave is something we we're offering it's just it's well especially when i when i try to explain to people and when

they ask for more detail and you say well it's kind of like bittorrent uh then all of a sudden it's a it's a terrible argument for our luxury group luxury brands that we work with it's like no we don't want to be torn so you say it's stored on different nodes you don't necessarily need know who it is but i mean it's it's extremely secure still it's for them it's kind of like a this idea of i don't know where that data is stored and so it's a it's a it's a big issue for the data to add another point on this the we had this issue also with just the idea of the nft at the beginning it's like if the if we don't know who the nodes are if we don't control the nodes you know i guess it's unsafe because this data is

stored i don't know where so the way they actually now understand really nft has more of a touch point as a link is actually something that they're like everybody understands and agrees with it and is okay with the idea that it's just a touch point and it doesn't matter where it's stored but for the underlying data it's um it's still an issue even encrypted and all those you know and any solution we pro for some brand is just a no a lot of luxury brands actually do not use even in the cloud they want their servers on premises because they want you know to really have it with them and to have full control so but so excellent question because it is it is really one of the challenges that we have with brands yes

so i love the the idea because i've been pitching ave for for quite a while on on that uh so that's that's something that doesn't exist today but it's something that uh that i'd like to see especially on watches and watches actually really make sense because a lot of the marketing with watches is this idea that the your watch is a reserve of value i mean patek philippe likes to say you never truly own a patek philippe you only hold it for the next generation and they really sell the idea that it's something that that has value over time yeah and and even for the second hand it's it's somewhat proven by the second-hand market by the way because on the on you always hear a lot about vinted and

and all those companies that do um second-hand uh lux or second-hand fashion but 75 of the the sales is about 21 billion per year the resale market for for luxury and fashion goods 75 of that number are watches that's the biggest market it's the most mature market for for second-hand in luxury in fashion it's uh it's watches um so it's it's it's something that really is is already ingrained in the idea that i own something that is going to pre you know that has value and that is a store of value already so to get back to your question um one of the issues of course is that you have a physical good and that the person actually owns it and

you could lock the the right to the pro you know you could lock the the actual um nft but the watch would still be kind of out there being used and then you fall into a lot of the difficulties of uh of uh what happens if you get liquidated and then the uh and then the the watch of course is is unclaimable you have to go through a legal system uh here there is um once again because the second hand market is so developed uh there is uh a there are a lot of solutions for consignment stores like watchfinder is one konovan cat and you could totally imagine them doing the consignment kind of being the third party that stores that that watch because that's already what they do and

it would be and here we're talking about something less decentralized but you're more keen to you know what avi has done with realty for instance on on real estate where you need kind of a third party in between that that makes sure that the one once the watch can be claimed if it's uh liquidated and second also is a liquidator meaning someone that knows how to sell a watch once it's once you're actually under collateralized on your loan and so that is something that we're should be interested in using really the d5 infrastructure even though in a more with with some you know with a third party in between using the infrastructure uh that i think really will enable companies like watchfinder like renovant

and all those those platforms that are not you know financial services to actually provide a new service which is um you know collateralized or over collateralization but that's definitely something we're looking at world like maybe yes second life kind of like person because i don't really understand why i'm buying nfd of a physical voice i mean i have to think that proves that i own it is the physical thing but i cannot like understand why you buy a watch and get an nft and all right so the little things that next week we're actually doing the first uh one of our small brands called agent 33 which is a pretty cool kind of

like the gen z brand is actually just came up with them with some some sunglasses uh and uh next week um they'll be announcing so it's it's uh i i hope nobody really uh tells this to everybody but uh they will be announcing yeah we should be okay normally it's it's already been been been said a few times but um that's not the official announcement but they you will be able to claim a digital wearable in um in the center line so we already have one brand that's that's where you do it it's still something that's uh that's a bit on on you know uh that luxury brands don't quite understand yet there are some experiments with gucci with with a few uh with a few brands that do pure digital

but the metaverse is still some place that is not well understood by brands um and but but i agree with you it's coming and this idea that your digital twin for your physical product is something you can wear also in the in the metaverse or the metaverses is something that we're we're of course extremely interested in and especially for the sneakers market actually because a lot of sneaker heads just buy sneakers store them in their uh you know in their closet and never wear them because if you wear them you destroy the value so here at least you can wear them in decentraland the sandbox or hopefully maybe one day fortnite who knows but fortnite is as you know closed system yes i think because they already have some

requests from their customers that's that's a bit that's a big thing um they they had looked at different solutions to create some kind of digital fashion uh and and it is um i have to admit a little bit to my surprise beginning because i really didn't get digital fashion at the beginning and i'm starting to to get educated on the subject but there is really a generation and their focus on gen z i think is really what makes it something that people understand even if they don't actually go into the central line when they don't already are in those metaverses they understand this idea of owning a digital you know digital fashion in in whatever's something that clicks with them uh me being a a good millennial slash almost boomer i

i have to admit i still have some issues but uh with with the concept but you know when i hear that now when i was a kid the the thing that um that made you a kind of a loser in school was not having nikes on your feet and now i hear that in school yards the insult is your default on fortnite meaning you only have the default skin on fortnite you don't have a custom skin it is what it is it was stupid back then when you were being uh singled out because you have you have sneakers uh the right sneakers and it's still stupid today but it shows that it's actually become something in the culture or something that people understand uh and and it's uh it's definitely those young generations understand more

than others if there's any other questions or i think you can also all good everybody well if there's if everybody's good thank you very much for uh listening and definitely reach out to you if you have any questions or others um we're we're always happy to share what we're doing and of course if you're interested in what speakeasy will be doing definitely something that i'll be happy to talk with talk about thank you you