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Alright, hello and good 
afternoon. 

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Good morning, good evening. 
Wherever you are in the world. 

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This is another episode of 
design future live. 

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A program of aiga, the 
professional association for 

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design. 
My name is Li Xian zhuang 

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director of design, content and 
learning here at aiga. 

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And if this is your first time 
tuning into the show, this is 

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the live show that we Syndicate 
out and stream to the aiga 

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design LinkedIn, YouTube. 
And Facebook pages, you can also

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watch this on demand, And so 
hello of you're watching this 

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recording at some point in the 
future and this will also be 

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available on our podcast 
wherever you get Podcast at AIG 

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it design you can search for 
that on the platform of your 

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choice. 
A little bit about the format. 

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We have a special guests today 
and I'll introduce her briefly. 

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But just a brief pause to save 
that. 

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We have a code of conduct here 
at aiga for this and all of our 

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other live and online events. 
Basically keep it full of your 

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curiosity and kindness and keep 
it free from harassment and 

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abuse. 
Used and will be A-Okay. 

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And I also need to remind you 
that what we're talking about 

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today is with a lawyer, a 
trained professional. 

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But this is not constituted as 
any legal or financial advice. 

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So do consult with your own 
lawyer and figure that out as we

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need to. 
But this is a great basis, learn

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about the broad topics that we 
have going on today. 

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So, without further Ado, I will 
introduce our special guest 

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today, who is an IP, and digital
assets, attorney and advisor to 

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companies and Brands she works. 
With NF teas, with the 

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Multiverse with Dows crypto web 
3 and blockchain, it's okay. 

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If you don't know what all of 
those terms mean, you might have

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heard about them a little bit in
the news and what you've been 

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reading about will cover some of
these terms as we go along, so 

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whatever your level or 
experience with this. 

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Hopefully, you'll stick around 
and listen to our show. 

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Joanne Holmes is the name of our
guest today. 

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Join homes, Esquire. 
She goes by Joe, who will also 

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be doing a workshop next week at
the aiga design and business 

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conference. 
That's May 4th through 6th 

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online. 
Joe will be doing a workshop on 

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intellectual property and web 
3.0. 

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So we'll go deeper in some of 
these topics and we'll post a 

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link to that as well. 
But in the meantime, let's 

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welcome Joe and feel free to 
post your questions. 

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At any time, I'll be monitoring 
the chat there. 

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We'd love to bring in your 
audience questions as we go 

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along. 
Joe. 

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Welcome to the show. 
My Sean. 

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Thank you so much for having me.
It's really a pleasure to be 

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here. 
I am, I am that digital assets 

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geek. 
I love all things web 3 and so 

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it's so A fun to get to speak to
the creative Community. 

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Sure thing. 
Yeah it's great to have you and 

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to be fully honest I'm still 
learning a lot about what these 

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terms mean. 
So hopefully we can Define them 

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a little bit especially for the 
folks who are still figuring 

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this stuff out. 
But as the first question on 

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your website Holmes out law.com 
you say that you help Brands and

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creators develop smart web 3 
strategy monetize IP and 

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negotiate successful deals and 
we can go into some examples of 

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what that means. 
What really stuck out to me? 

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Was that you also highlighted, 
it doesn't hurt to have some fun

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too. 
It's love to hear about how this

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stuff is fun for you. 
Where do you see the fun? 

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And all of these emerging Tech 
Trends and opportunities? 

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That's a great question. 
So I've been an intellectual 

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property attorney managing 
assets on a global basis and 

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about 140 countries for decades.
And so I come at this, from a 

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perspective of having had the 
honor of working with With 

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Brands and creators and 
innovators for over 20 years. 

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And I'm constantly learning. 
I'm constantly challenged by the

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new ways that they think about 
things and trying to apply the 

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law to support their goals and 
objectives. 

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I get to work with really Trend 
projects from nft creators, 

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entrepreneurs, building 
businesses in web three, 

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innovators finding that coupling
between the digital and the 

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physical and the He that the law
moves, much slower than Tech and

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Innovation. 
But the excitement of this space

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for me in many ways is really 
web 3 to a broader, Global 

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audience of people who might not
have had access to financial 

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tools, or marketplaces before to
Showcase their talent and 

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really, creating a space where 
we can be inclusive and diverse 

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and create new opportunities. 
So the innovation ideas Is that 

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I get to talk to creatives 
around. 

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It's just it keeps me on my toes
and I'm having fun and seeing 

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the ways that people in web 
three are upsetting the 

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Paradigm. 
And it's it's no single model. 

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It's very young people to more 
mature people, and just frankly,

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a lot of smart people coming to 
the space and sharing new ideas.

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That's awesome. 
I love to learn more about some 

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examples of some of the folks 
that you've worked with but 

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maybe we could start with what 
the existing paradigm. 

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Is or what the existing dominant
Paradigm is. 

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That's maybe going away or being
challenged at least by this nft 

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staff. 
So for me when you say the 

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existing Paradigm here maybe the
traditional Gallery system with 

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Gatekeepers primarily in New 
York and different festivals 

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that we hear about like the 
Venice biennale or Art Basel 

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Miami. 
These sort of very specific but 

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also really narrowly defined 
places where people go and kind 

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of make it as artists is to sell
their pieces. 

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And it sounds like with NF teas 
and some of the stuff going on, 

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there's more of a 
decentralisation of who can 

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access audiences and sell their 
art is that kind of where you're

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talking about in terms of 
upsetting some of these older 

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paradigms? 
Absolutely I mean there are 

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financial paradigms and there 
are gatekeeper. 

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So from a financial perspective 
here in the United States where 

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you and I are based, as well as 
globally, there is a significant

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component of people who are 
unbanked who don't have access 

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to checking accounts or saving 
accounts or the stock market 

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that we hear As Americans 
typically have access to what 

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that means, is there have not 
been ways for them to transfer 

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Financial value in exchange for 
their creativity and exchange 

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for their artwork because 
cryptocurrency is a platform 

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that in some ways, remove some 
of the financial Gatekeepers 

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that Means that people who have 
internet access all over the 

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world can buy cryptocurrency, 
have their own wallets access 

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Global marketplaces and be able 
to display their art and that 

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creates new opportunities to 
your point. 

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Whereas if you have an 
outstanding talent and you build

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a community that Community can 
become your marketing team and 

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can't out the value of your 
talent and can also participate 

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in the wealth accretion. 
From seeing your talent at the 

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earliest stages in the value of 
your artwork increasing. 

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I think it might be helpful for 
those who might not have the 

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foundation around. 
What is an mft? 

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Just take a moment and Shear. 
Let's do that for sure. 

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Yeah. 
Yeah. 

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So and she is, it's really two 
things on the, one side, from a 

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digital perspective, it's a deed
of ownership or a certificate of

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authenticity that's housed on a 
blockchain. 

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And what is a blockchain? 
It's just open. 

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Our software and their different
blockchains there is the 

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ethereum blockchain Salona near 
Avalanche. 

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They're different blockchains 
but effectively again they're 

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open source software and so a 
non fungible token that token 

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piece is a representation. 
Again, a deed of ownership and 

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authenticity on a blockchain 
that token can be connected to 

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digital and physical assets. 
So in the conversation that 

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we're having right now, we're 
talking about taking that token 

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and a Meaning it to digital art.
And so what that does is it 

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creates a way in using the 
blockchain technology to 

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authenticate that this is a real
piece of digital art that came 

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from a specific Creator. 
What web to did was we kind of 

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had that right click save where 
you could go online and you 

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could immediately have a digital
copy and that took away some of 

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the some of the frankly, the 
financial value of r. - and so 

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what web 3 does, is it creates 
that provenance, you know, if 

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you were to try to authenticate 
the Mona Lisa? 

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For example, there would be 
professionals in the art world, 

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who would be able to speak to, 
this is the chain of title of 

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this piece of art and 
authenticate that it is the 

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actual Mona Lisa. 
What the blockchain does in web 

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three is that authentication 
piece? 

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It makes it technological. 
And so those who want to support

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an artist or a creator Are able 
to look through the blockchain 

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and confirm, that this is an 
actual piece of authenticated 

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work that came from that Creator
who you want to support and that

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gives value back to the Creator 
and it gives a trust in the 

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community that they are actually
supporting the Creator. 

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One exciting thing about this is
the concept of it to royalties 

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in web 3 which also allows 
creators to be able to not only 

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have value in that first sale, 
but through maintaining sale 

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Al's on a Marketplace, be able 
to have recurring secondary 

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royalties as well. 
So it's creating some exciting 

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new opportunities for artists to
be able to have ongoing value in

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their work and for communities 
to participate in the financial 

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appreciation of an artist's work
as well. 

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Yeah, I'd love to highlight a 
little bit. 

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Some of what you were talking 
about the secondary royalty is 

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because I think that's one of 
the issues that happens a lot in

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traditional art markets or you 
could be stood any painter from 

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From the 20th century often, 
it's not until later in their 

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lives. 
Sometimes after they died that 

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their artwork sells for 
significant amounts of money, 

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right? 
So maybe they sold their 

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painting for 1,000 bucks, but 
then it goes to auction late in 

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their life or after they've died
and it goes for millions of 

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dollars and the artists and 
their Estates don't really see 

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any of that. 
If it's a secondary sailrite 

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it's like the person who bought 
it for a thousand dollars of 

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selling it for a million 
dollars. 

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And so you're saying that with 
some of these nft he's on these 

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contracts on the blockchain. 
It's possible for artists to get

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a cut of these like sales down 
the line. 

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Absolutely. 
That's right. 

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And it's we are still very early
in this technology especially 

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when it comes to in ft's in 
distribution to communities. 

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There are a variety of different
marketplaces, the marketplaces 

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have different technological 
functions within their coding 

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structure. 
And so there are different Two 

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calls that will allow for in fps
to have Smart contracts, which 

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again is just code and that code
can embed a secondary royalty to

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the original Creator. 
There are some issues. 

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If you're based here in the 
United States with the 

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Securities and Exchange 
Commission around royalties 

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outside of those attributed to 
the original Creator. 

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So there are some Concepts 
around fractionalization of art,

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for example. 
So if you have an expensive 

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piece of digital art, There is a
concept of French colonization 

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that could allow several owners 
who participate in ownership of 

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one piece of digital art, the 
Securities and Exchange 

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Commission has said that they're
taking a close, look at that. 

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And they've cued to us that they
perceive that to be a security 

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that would need to be 
registered, and be appropriately

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aligned to the regulatory regime
of the SEC, but that sort of 

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Safe Harbor. 
If you will still exist within 

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original creator, If that, in Ft
continues to be bought and sold 

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on marketplaces that recognize 
those secondary royalties. 

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00:12:06,900 --> 00:12:10,700
And again, that's a question of 
coding, then there is an 

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opportunity for those artists, 
so you continue to receive 

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royalties on resales. 
So, when I would say to folks 

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who are thinking about royalties
and secondary sales is take some

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time to educate yourself on the 
market places that are going to 

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allow for that in sales are 
happening, peer to peer through 

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private. 
Wallets then that secondary 

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00:12:31,500 --> 00:12:35,000
sales Roti is going to drop off.
And one of the reasons for that 

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is think about, you know, if I 
own an inn ft and I want to gift

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00:12:39,500 --> 00:12:43,400
it to you and then I may not 
want to have to add in a 

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00:12:43,400 --> 00:12:48,100
secondary layer of sale or a 
royalty back to the Creator, or 

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I could have several digital 
wallets of my own. 

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00:12:51,000 --> 00:12:53,900
And if I'm transferring it from 
one of my digital wallets to 

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another, then it wouldn't 
necessarily make sense for me to

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00:12:57,400 --> 00:13:01,700
need to pay a Realty on Transfer
of my personal wallets. 

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00:13:01,900 --> 00:13:05,700
So it is, it is still nascent in
terms of the technology 

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00:13:05,700 --> 00:13:08,400
development but the 
opportunities there are very 

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00:13:08,400 --> 00:13:11,200
promising for creators, that's 
awesome. 

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Thank you for that short answer 
that preview. 

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I wanted to do a quick reset for
folks who are just joining us on

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the live stream, I am here live 
with Joanne homes. 

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Joe is an IP and digital assets 
attorney and advisor to 

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companies and Brands and issues 
like nft as the metaverse Dows 

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crypto web. 
Re and blockchain also wanted to

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acknowledge some of our audience
members and Torah was them 

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really valuable points. 
Thank you for spreading 

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knowledge. 
On this important subject. 

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Sarah was saying, very glad to 
have information on this, many 

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artists, always short sell 
themselves, let's change that. 

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And I think one part of that is 
working with a lawyer who can 

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help you navigate this. 
And we also have Martin who has 

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our first audience question. 
Martin wants to know what is the

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process for a Creator to add a 
token to their art and how do 

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they track usage? 
Now, that's a very big and 

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general question. 
But how can we approach that 

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now? 
Yeah, this gets us back into the

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guise of the SEC. 
Unfortunately, right now, from a

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regulatory perspective there's a
lot of gray space around 

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tokenization. 
One of the areas where there's a

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natural thinner. 
G is thinking about, for 

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example, in FTS building a 
community and dowels. 

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So in ft's are sometimes used, 
For fundraising purposes to sell

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a collection. 
So that a Creator can score a 

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certain objective with a 
community. 

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That might be organized as a 
Dau. 

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So let's say you sell and what's
popular right now is a 10,000 

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piece collection of digital art 
and some component of that goes 

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into, a dow treasury, to be able
to support a charitable 

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objective or something else that
the community believes in wants 

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to support. 
So, There was a time frame and 

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are still relatively young web 
three ecosystem where there was 

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a lot of token issuance and that
got quite a bit of scrutiny 

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again from the Securities and 
Exchange Commission. 

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What tokens look like. 
Now that tend to be on the safer

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side of things and again this is
something that we require a 

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close evaluation slam a 
Securities and fundraising 

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attorney. 
But what looks like a safer 

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brand? 
Is that? 

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Okay? 
In that, for example, allows Dow

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community members to participate
in governance of that data 

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associated with the Creator's in
ft's that gives social benefit. 

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So for example, you might be 
able to if you were in nft 

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holder or a dow token holder, be
able to have access to certain 

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rooms within a Discord or 
certain Live Events. 

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There might also be a benefit 
to, so maybe you get access to 

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be able to buy products or 
Services by virtue of being a 

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Holder when that token starts to
have a financial value and 

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particularly, if the leaders of 
a dowel or the creator of an mft

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start to speak to past or future
financial success. 

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Associated with a project again 
that starts to get into some 

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00:16:16,600 --> 00:16:19,400
rookies face in terms of whether
the SEC is going to have a 

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00:16:19,400 --> 00:16:22,900
focused around that. 
So again to try to give some 

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00:16:22,900 --> 00:16:26,200
guidance around a token, if the 
token is focused around 

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governance social benefit Or 
access to community benefits 

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that or products or Services. 
All of those are closer to the 

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safer side of things. 
That is not a blanket statement 

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00:16:42,300 --> 00:16:46,300
that that's always going to give
you cover from the SEC because 

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especially when there starts to 
be a market for those tokens and

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00:16:50,408 --> 00:16:53,500
we're still again in that gray 
area, but in a tease are 

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00:16:53,500 --> 00:16:55,400
definitely used for fundraising 
purposes. 

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Associated with dowels and down 
members can absolutely 

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00:16:58,600 --> 00:17:02,000
participate. 
Governance of that organization 

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and certain objectives that 
we're going ization supporting 

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an artist might want to achieve,
right? 

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00:17:07,500 --> 00:17:10,300
So just to sum up a little bit 
of what I've heard so far and 

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nft can act as like a deed of 
ownership of something, it can 

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00:17:15,599 --> 00:17:19,500
validate the authenticity of 
that asset that you own, but 

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you're saying that it can also 
be like a key or like a badge at

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00:17:22,200 --> 00:17:24,400
a conference, right? 
Of like it gives you access to 

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the VIP space or it like gets 
you access to the lounge kind of

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00:17:27,700 --> 00:17:30,100
thing. 
You've also mentioned Dow's and 

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I want to make sure everyone's 
on the same page there, so 

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00:17:32,200 --> 00:17:35,200
downstairs for decentralized, 
autonomous organization. 

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And for my understanding it's 
sort of like a co-op, right? 

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We're different people have 
different abilities to make 

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00:17:41,100 --> 00:17:44,200
decisions and vote on things 
that are both the rules as well 

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00:17:44,200 --> 00:17:47,100
as the code for how this 
operates online. 

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00:17:47,100 --> 00:17:50,800
Can you tell us more about dowse
for folks who are new to this 

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00:17:50,800 --> 00:17:52,300
term? 
Sure. 

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00:17:52,300 --> 00:17:58,800
So Downs are a great opportunity
for groups of people to come 

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together around. 
And a given purpose, sometimes 

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that might be a social dowel or 
a dowel for a particular purpose

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00:18:06,000 --> 00:18:10,300
of supporting a Creator, 
sometimes it might be for 

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00:18:10,300 --> 00:18:13,100
investing purpose. 
Sometimes it might be for a 

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00:18:13,100 --> 00:18:17,700
grant purpose to try to build 
out an ecosystem on blockchain, 

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00:18:17,700 --> 00:18:22,600
for example, for charitable 
purposes for product or service 

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00:18:22,600 --> 00:18:25,200
offering purposes. 
There are any number of reasons 

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00:18:25,200 --> 00:18:29,100
why I doubted my come together 
and there's been an evolution in

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00:18:29,100 --> 00:18:32,600
the down Space. 
So you know it's hard to say old

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00:18:32,600 --> 00:18:35,600
school when where a lot of us 
have been in this web three 

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00:18:35,600 --> 00:18:39,600
states for, you know, just a 
couple of years, you're an old G

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00:18:39,600 --> 00:18:43,700
if you've been arrested for two 
years but one of the things that

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00:18:43,700 --> 00:18:48,100
I would say is that the earlier 
concept of a doubt as you spoke 

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00:18:48,100 --> 00:18:52,000
to LaShawn is a decentralized 
autonomous organization. 

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00:18:52,000 --> 00:18:56,100
So that means there's not a 
traditional corporate structure 

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where there's a hierarchy of 
leadership that it's Smart 

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00:19:00,200 --> 00:19:07,200
contract driven, where you set 
the code to be able to govern 

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aspects of the organization, and
that's the autonomous piece of 

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00:19:12,600 --> 00:19:14,700
it. 
So, the decentralized pieces 

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00:19:15,100 --> 00:19:17,900
membership-based, that's not 
hierarchical. 

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And that membership could be 
Global. 

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The autonomous is smart contract
and code driven management of 

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00:19:26,800 --> 00:19:30,100
the organization. 
So that's the early Other side 

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00:19:30,100 --> 00:19:35,400
of death as the evolution of 
dows is less decentralized and 

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00:19:35,400 --> 00:19:38,200
less autonomous and more 
flexible and member-driven. 

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00:19:38,300 --> 00:19:39,900
And so, what does that look 
like? 

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That looks like the reality is 
that typically you need a 

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00:19:44,008 --> 00:19:47,300
nucleus of leaders who are going
to drive the mission of an 

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00:19:47,300 --> 00:19:52,200
organization to establish it and
to help educate people about the

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00:19:52,200 --> 00:19:55,900
goals. 
So, you have a core group of 

341
00:19:55,900 --> 00:20:01,400
members who often times now and 
Dallas are Who are driving it to

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00:20:01,400 --> 00:20:05,200
try to get it to a point where 
it can be decentralized and 

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00:20:05,200 --> 00:20:08,100
member managed. 
It's also not necessarily smart 

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00:20:08,100 --> 00:20:10,700
kind of track driven. 
There are opportunities for 

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00:20:10,700 --> 00:20:14,300
members to vote and just like in
a traditional Corporation, the 

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00:20:14,300 --> 00:20:16,900
reality is people have a lot of 
things going on. 

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So you might be a shareholder in
apple, but do you really take 

348
00:20:20,700 --> 00:20:24,800
the opportunity to vote on those
things that are put before the 

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shareholders of Apple 
Corporation? 

350
00:20:28,000 --> 00:20:30,100
A lot of those shareholders? 
Don't vote. 

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00:20:30,100 --> 00:20:33,300
And so we're seeing some of 
those same things in dowels 

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00:20:33,300 --> 00:20:38,300
where what's happening is that 
pods or guilds are being 

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00:20:38,300 --> 00:20:40,600
separated out. 
So that people who have subject 

354
00:20:40,600 --> 00:20:44,900
matter expertise in a, what 
would be a department in a 

355
00:20:44,908 --> 00:20:48,400
company, have the opportunity to
be able to move forward 

356
00:20:48,400 --> 00:20:51,200
objectives within a Dau and 
still vote. 

357
00:20:51,200 --> 00:20:54,500
And some of that voting is 
happening in a web to setting so

358
00:20:54,500 --> 00:20:57,300
that you don't have transaction 
fees to worry about it. 

359
00:20:57,400 --> 00:21:00,700
And some of the more significant
components are It on with a 

360
00:21:00,700 --> 00:21:05,400
blockchain confirmation. 
So dowels are very early stage, 

361
00:21:05,400 --> 00:21:09,900
rethinking of traditional 
corporations for any number of 

362
00:21:09,900 --> 00:21:15,900
social Financial public, good 
focused objectives, and there is

363
00:21:15,900 --> 00:21:20,300
very much, a legal overlaid. 
Our governments are thinking 

364
00:21:20,300 --> 00:21:23,400
about taxation, they're thinking
about employment law. 

365
00:21:23,400 --> 00:21:28,600
There are aspects of around the 
Judiciary duties, if you're down

366
00:21:28,600 --> 00:21:33,300
in, doesn't have a A company 
like LLC or corporate rapper or 

367
00:21:33,300 --> 00:21:38,700
some sort of non US, based kind 
of entity representation, then 

368
00:21:38,700 --> 00:21:41,700
you fall back to a general 
partnership, which means all the

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00:21:41,700 --> 00:21:46,100
data members that the treasury 
managers, the leadership of the 

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00:21:46,100 --> 00:21:48,100
Dow could have personal 
liability. 

371
00:21:48,300 --> 00:21:50,900
I mean, your house and your car,
in your bank account, could be 

372
00:21:50,900 --> 00:21:52,800
at risk. 
So, there are a number of legal 

373
00:21:52,800 --> 00:21:56,900
issues, impacting dowse, just 
like there are legal issues, 

374
00:21:57,000 --> 00:22:00,600
largely from a trademark 
copyright in Perspective that 

375
00:22:00,600 --> 00:22:04,100
impact in FTS which is one of 
the reasons why it's a good idea

376
00:22:04,100 --> 00:22:06,400
to have a relationship with an 
attorney to help guide you 

377
00:22:06,400 --> 00:22:10,300
through some of those things. 
And for me as an attorney is 

378
00:22:10,300 --> 00:22:13,200
really a balancing act between 
making sure that people have 

379
00:22:13,200 --> 00:22:16,300
been information around how the 
law impacts what they're 

380
00:22:16,300 --> 00:22:19,400
developing but not stifling that
Innovation. 

381
00:22:19,400 --> 00:22:23,300
Yeah that's a great point about 
working with an attorney for 

382
00:22:23,300 --> 00:22:27,700
this at what point should 
somebody start building that 

383
00:22:27,700 --> 00:22:29,400
relationship and reaching out to
an? 

384
00:22:29,500 --> 00:22:32,100
Me if they're a Creator and the 
ready to put themselves out 

385
00:22:32,100 --> 00:22:35,600
there or they're ready to join. 
Add our one of these Discord 

386
00:22:35,600 --> 00:22:38,200
communities where there are 
creators involved in, they want 

387
00:22:38,200 --> 00:22:41,000
to invest like and either side 
of that the Creator side or the 

388
00:22:41,200 --> 00:22:43,400
investor side. 
Like, what point should somebody

389
00:22:43,400 --> 00:22:46,100
really think about? 
Okay before I could do anything 

390
00:22:46,500 --> 00:22:48,200
big? 
Let me talk to a lawyer. 

391
00:22:48,500 --> 00:22:53,000
So from an investor side mean be
helpful to step back. 

392
00:22:53,000 --> 00:22:57,500
Once again, a tentpole 
understanding of what is web 

393
00:22:57,500 --> 00:23:00,500
three I see. 
As five things. 

394
00:23:00,500 --> 00:23:04,400
Do you got pick your currency 
which is the, the monetary layer

395
00:23:05,100 --> 00:23:07,700
of what causes blockchains to be
able to move. 

396
00:23:07,700 --> 00:23:11,300
When when someone sells in nft 
and someone buys an and 

397
00:23:11,300 --> 00:23:13,900
achieved, there is a transaction
happening there. 

398
00:23:13,900 --> 00:23:16,400
Just like, if you go into a 
store and you buy a loaf of 

399
00:23:16,400 --> 00:23:18,400
bread, there's a transaction 
happening there. 

400
00:23:18,800 --> 00:23:22,900
The current me that supports 
that is, excuse me. 

401
00:23:22,900 --> 00:23:27,900
Going to be, you know, ether. 
So Lori Bitcoin. 

402
00:23:27,900 --> 00:23:31,300
It's going to be or Stable 
planes, which are the 

403
00:23:31,300 --> 00:23:35,700
cryptocurrency equivalent of 
Fiat like a u.s. dollar or Euro.

404
00:23:35,900 --> 00:23:40,700
So there's a real Baseline 
understanding of cryptocurrency 

405
00:23:40,700 --> 00:23:45,000
which to facilitate transactions
in web three cryptocurrency is 

406
00:23:45,000 --> 00:23:47,400
that monetary unit that we're 
using. 

407
00:23:47,600 --> 00:23:49,600
So that's the first temple is 
cryptocurrency. 

408
00:23:49,700 --> 00:23:52,500
The second is default or 
decentralized Finance. 

409
00:23:52,700 --> 00:23:56,300
Just like you can put up 
collateral to get a loan or you 

410
00:23:56,300 --> 00:23:59,400
can get a CD or have a savings 
account. 

411
00:23:59,600 --> 00:24:01,300
It's going to yield money from 
it. 

412
00:24:01,400 --> 00:24:05,700
We have a whole Eco Financial 
ecosystem in 13, that is called 

413
00:24:05,700 --> 00:24:08,800
D Phi. 
And so that's the second temple.

414
00:24:08,800 --> 00:24:13,300
A third Temple is in at ease 
again on fungible tokens and 

415
00:24:13,900 --> 00:24:17,300
there's that again, there's that
token side, which is a 

416
00:24:17,300 --> 00:24:20,100
representation of ownership on 
the blockchain, that's attached 

417
00:24:20,100 --> 00:24:24,200
to a digital or physical aspect.
That's number three. 

418
00:24:24,200 --> 00:24:26,600
Number four is Dows, which we 
started talking about when 

419
00:24:26,600 --> 00:24:29,300
there's a real Synergy between 
in activities and do. 

420
00:24:29,500 --> 00:24:33,100
Owls, and the reason being 
because in ft's, especially if 

421
00:24:33,100 --> 00:24:36,500
you have a collection really 
ends up being building out of a 

422
00:24:36,500 --> 00:24:38,900
community. 
And the way that communities are

423
00:24:38,900 --> 00:24:41,500
represented in web three is 
through dowels. 

424
00:24:41,800 --> 00:24:45,000
And then the fifth and final 
tent full is the members, which 

425
00:24:45,000 --> 00:24:48,700
is, oh, gosh, lots of people 
Define this, you different ways,

426
00:24:48,700 --> 00:24:53,800
but the metaverse in many ways 
is right now, A meshing of web 

427
00:24:53,800 --> 00:24:56,500
to and web, three from a web to 
perspective. 

428
00:24:56,500 --> 00:24:59,400
It might look like Roblox or 
Minecraft where you're building.

429
00:24:59,500 --> 00:25:03,400
The digital world and web three 
might look like decentraland 

430
00:25:03,400 --> 00:25:07,600
where the sandbox or axi 
infinity or any number of gaming

431
00:25:07,600 --> 00:25:11,500
opportunities where you are 
using the blockchain to be able 

432
00:25:11,500 --> 00:25:17,300
to build that Virtual Worlds and
realities within FTS as assets 

433
00:25:17,300 --> 00:25:19,300
within those. 
So, a key way that you would 

434
00:25:19,300 --> 00:25:23,800
distinguish web three gaming and
the metaverse for example is 

435
00:25:23,800 --> 00:25:29,600
that those skins and in-game 
assets that you might have in Of

436
00:25:29,600 --> 00:25:34,400
Warcraft or other other web to 
gaming, where if you walk away 

437
00:25:34,400 --> 00:25:36,500
from the game and you 
effectively walk away from the 

438
00:25:36,500 --> 00:25:40,100
aspect that you built up in web 
3, those assets can be 

439
00:25:40,100 --> 00:25:43,400
interoperable. 
We're moving towards this, as an

440
00:25:43,400 --> 00:25:46,900
opportunity, to break those 
assets to go, from one game to 

441
00:25:46,900 --> 00:25:51,300
another and for you to be able 
to sell those assets and, and 

442
00:25:51,300 --> 00:25:54,400
maintain that value in a way 
that you couldn't in web to 

443
00:25:54,400 --> 00:25:56,800
gaming. 
And so, those are the five tent 

444
00:25:56,800 --> 00:26:00,600
poles if you will, from my 
perspective, Of web, 30. 

445
00:26:00,800 --> 00:26:06,400
And when we think about the ways
that creators can participate in

446
00:26:06,400 --> 00:26:09,900
this space, I mean the 
opportunities are really endless

447
00:26:09,900 --> 00:26:15,300
in terms of gaming, in terms of 
helping Brands, think through 

448
00:26:15,300 --> 00:26:18,800
how they can have a meaningful 
presence in this space in terms 

449
00:26:18,800 --> 00:26:22,800
of creating assets that you can 
maintain some again, going back 

450
00:26:22,800 --> 00:26:25,400
to the Realty, some facet of 
ownership around. 

451
00:26:25,500 --> 00:26:29,100
So I just want to step back and 
give that perspective and I will

452
00:26:29,100 --> 00:26:32,100
ask you to remind me of what 
your question was when you saw 

453
00:26:32,100 --> 00:26:43,800
because I got ya if you want to 
get into the nft space at what 

454
00:26:43,800 --> 00:26:46,600
point should you consider 
working with the lathe? 

455
00:26:47,100 --> 00:26:52,200
Yeah okay so for in ft's it's 
really helpful I think to 

456
00:26:52,900 --> 00:26:58,000
consider what you want to offer 
in terms of your talent and in 

457
00:26:58,000 --> 00:27:01,700
terms of your community, So 
there's a concept of roadmapping

458
00:27:01,700 --> 00:27:06,000
and white paper, we're at the 
very earliest stages you're 

459
00:27:06,000 --> 00:27:11,400
thinking through, what will the 
Journey of the experience for my

460
00:27:11,400 --> 00:27:15,300
community look like so that 
might look like you as a Creator

461
00:27:15,300 --> 00:27:18,800
putting out. 
One of one works where it's not 

462
00:27:18,800 --> 00:27:21,800
a collection. 
They are bespoke discrete units 

463
00:27:21,800 --> 00:27:24,400
of your work, right? 
And that's perfectly fine. 

464
00:27:24,400 --> 00:27:27,800
And within the guise of your 
right, as an artist, you might 

465
00:27:27,800 --> 00:27:30,300
instead say, I want to have A 
collection. 

466
00:27:30,500 --> 00:27:33,000
And so, if you want to have a 
collection, then the question 

467
00:27:33,000 --> 00:27:36,800
becomes, what do you want the 
relationship to your community 

468
00:27:36,800 --> 00:27:40,900
of those collectors to look like
if we use some of the popular 

469
00:27:40,900 --> 00:27:46,000
examples of Boss, babes, or 
world of women or women, rise, 

470
00:27:46,000 --> 00:27:48,000
right. 
Those are 10,000 piece 

471
00:27:48,000 --> 00:27:50,700
collections. 
Were you really building out a 

472
00:27:50,708 --> 00:27:53,600
community? 
And what that Community is going

473
00:27:53,600 --> 00:27:57,300
to come to expect is, what does 
our intellectual property and 

474
00:27:57,300 --> 00:28:01,100
commercialization, right? 
Look like So each of those that 

475
00:28:01,100 --> 00:28:05,100
I need world of women, boss, 
faves, women rise, those are 

476
00:28:05,100 --> 00:28:08,000
Brands. 
Just like Disney is a brand. 

477
00:28:08,000 --> 00:28:11,800
Just like born a piak club or 
crypto Punk's have come to be 

478
00:28:11,800 --> 00:28:14,100
acknowledged as very meaningful 
Brands. 

479
00:28:14,400 --> 00:28:18,100
So you want to think about 
working with an attorney to be 

480
00:28:18,100 --> 00:28:21,500
mindful of whether your brand 
might be stepping on someone 

481
00:28:21,500 --> 00:28:23,900
else's toes, that's called 
trademark clearance. 

482
00:28:24,200 --> 00:28:28,200
And then affirmatively thinking 
about how do you get protection 

483
00:28:28,200 --> 00:28:29,600
with? 
Let's say, for example, Will the

484
00:28:29,600 --> 00:28:33,300
u.s. trademark office for your 
brand name, so that you can lock

485
00:28:33,300 --> 00:28:36,200
up the ownership rates in that 
asset, right? 

486
00:28:36,200 --> 00:28:40,200
And the brand is one piece of Ip
that you might want to retain 

487
00:28:40,200 --> 00:28:43,100
ownership around. 
The second piece is copyright. 

488
00:28:43,200 --> 00:28:47,400
And so in the United States to 
register a copyright for a 

489
00:28:47,400 --> 00:28:50,100
creative work cost, less than 
$100. 

490
00:28:50,300 --> 00:28:53,700
And what that gives you as a 
Creator is the right to be able 

491
00:28:53,700 --> 00:28:58,000
to sue for infringement, get 
reimbursement of your attorneys 

492
00:28:58,000 --> 00:29:00,400
fees. 
If someone has a Just your work 

493
00:29:00,600 --> 00:29:04,200
and then you also want to thank 
from a contract perspective. 

494
00:29:04,200 --> 00:29:06,300
What set of rights do I want to 
get? 

495
00:29:06,300 --> 00:29:10,000
So what's really exciting and 
fun to me as in an electoral 

496
00:29:10,000 --> 00:29:12,000
property? 
Attorney who helps my clients 

497
00:29:12,000 --> 00:29:15,800
monetize, their assets, 
including their digital assets 

498
00:29:15,800 --> 00:29:19,100
has historically, we had the 
Disney Model, A centralized 

499
00:29:19,100 --> 00:29:22,900
ownership and control everything
was locked up and manage and you

500
00:29:22,900 --> 00:29:26,100
really putting yourself in 
Jeopardy, even to create fan art

501
00:29:26,100 --> 00:29:30,000
without their permission. 
We really thought Spectrum. 

502
00:29:30,000 --> 00:29:34,500
Now from the Disney model to the
crypto kitties example, that 

503
00:29:34,500 --> 00:29:40,300
came into notoriety in the 2017 
2018 range where Dapper Labs 

504
00:29:40,300 --> 00:29:44,100
really started a new more 
generous perspective where you 

505
00:29:44,100 --> 00:29:47,600
could take the crypto Kitty, you
bought and go put it on 

506
00:29:47,600 --> 00:29:51,100
merchandise and sell that up to 
a hundred thousand dollars and 

507
00:29:51,100 --> 00:29:54,700
you didn't know Dapper Labs, 
anything for you, taking your 

508
00:29:54,700 --> 00:29:58,200
nft and commercializing it, then
we move further down the 

509
00:29:58,200 --> 00:30:02,100
Spectrum to sort of the And 
world of women or board ape 

510
00:30:02,100 --> 00:30:05,500
Yacht Club example where there's
an even broader right to 

511
00:30:05,500 --> 00:30:08,100
commercialize. 
If you're in Ft owner where 

512
00:30:08,100 --> 00:30:10,400
there's no commercial chat on 
it, right? 

513
00:30:10,400 --> 00:30:13,000
And then you've got the farthest
end of the spectrum with a 

514
00:30:13,008 --> 00:30:16,600
project like nouns where it's 
Creative, Commons 0. 

515
00:30:16,900 --> 00:30:22,700
And those who purchase that, 
they're not subject to a license

516
00:30:22,700 --> 00:30:27,400
that could be revoked. 
They are free to go out and do 

517
00:30:27,400 --> 00:30:28,900
whatever they like to do with 
that. 

518
00:30:28,900 --> 00:30:32,000
That keep in mind, we've got 
three types of long. 

519
00:30:32,100 --> 00:30:35,200
We've got the trademark for the 
brand name again, like Gordon 

520
00:30:35,200 --> 00:30:37,800
Yacht Club. 
We've got the copyright in the 

521
00:30:37,800 --> 00:30:40,900
presentation of the creative 
work, and then we've got the 

522
00:30:40,900 --> 00:30:44,200
contractor license that tells 
the buyers what they can do with

523
00:30:44,200 --> 00:30:46,600
what they got. 
And then the absence of that 

524
00:30:46,600 --> 00:30:51,900
license you as an mft buyer, 
only have the right to privately

525
00:30:51,900 --> 00:30:56,600
display that artwork basically 
in your home and to resell it. 

526
00:30:56,800 --> 00:31:00,000
So to answer your question 
around, when does it Extends to 

527
00:31:00,000 --> 00:31:03,400
get an attorney involved. 
It's when you're thinking about 

528
00:31:03,400 --> 00:31:06,100
what rights do you want to 
retain as a Creator? 

529
00:31:06,100 --> 00:31:08,000
And what rights do you want to 
share? 

530
00:31:08,000 --> 00:31:10,900
And what kind of community of 
you are going trying to build 

531
00:31:11,000 --> 00:31:13,800
because again that Community can
be your marketing team. 

532
00:31:13,900 --> 00:31:17,200
But they tend to want to have an
ownership stake in that work and

533
00:31:17,200 --> 00:31:19,700
finding that balance is worth 
speaking to an attorney. 

534
00:31:19,800 --> 00:31:22,500
Thank you so much sudden. 
Now we're at the time for our 

535
00:31:22,500 --> 00:31:27,200
final question to let the 
audience know again, Joe is 

536
00:31:27,200 --> 00:31:30,900
doing a workshop next week. 
On intellectual property and web

537
00:31:31,100 --> 00:31:34,100
and web 3.0 at the aiga design 
and business conference. 

538
00:31:34,100 --> 00:31:37,200
That's met four through six 
that's online. 

539
00:31:37,200 --> 00:31:39,700
And will be recorded as well as 
though it's Wednesday through 

540
00:31:39,700 --> 00:31:43,400
Friday next week. 
And that's a longer say it's 

541
00:31:43,400 --> 00:31:46,600
like to and it's like two hours 
or three almost 3 hours. 

542
00:31:46,900 --> 00:31:50,200
So we can go much further in 
depth for that but maybe just as

543
00:31:50,200 --> 00:31:52,500
the final question. 
Can you tease a little bit of 

544
00:31:52,500 --> 00:31:54,200
some of the things that we'll 
talk about? 

545
00:31:54,200 --> 00:31:57,200
And then just also let folks 
know where they can find you 

546
00:31:57,200 --> 00:31:58,700
online and we'll take it out 
from there? 

547
00:31:58,900 --> 00:32:02,300
So, What we're going to talk 
about and focus on next week, is

548
00:32:02,300 --> 00:32:05,900
really going to be an activities
for the creative Community. 

549
00:32:06,700 --> 00:32:11,400
I have advised clients literally
from the startup stage all the 

550
00:32:11,400 --> 00:32:13,800
way through multi-billion dollar
organizations. 

551
00:32:13,800 --> 00:32:17,400
And so I really want to First 
help people understand how to 

552
00:32:17,400 --> 00:32:21,800
protect themselves from a legal 
perspective go in depth around. 

553
00:32:21,800 --> 00:32:27,400
What is in nft, how would you go
about renting, one of the types 

554
00:32:27,400 --> 00:32:29,200
of legal issues that are going 
to impact? 

555
00:32:29,300 --> 00:32:33,000
Fact that and we will talk a 
little bit, although the focus 

556
00:32:33,000 --> 00:32:35,500
will not be around dowels with 
the metaverse. 

557
00:32:35,800 --> 00:32:39,200
But what I love to do is have 
collaborative conversations. 

558
00:32:39,200 --> 00:32:42,600
And so for anyone who joins us 
next week, I would invite me 

559
00:32:42,608 --> 00:32:45,400
when I encourage you to come 
with your questions, come with 

560
00:32:45,400 --> 00:32:48,600
your real world examples. 
I won't be able to give legal 

561
00:32:48,600 --> 00:32:51,900
advice, but I will be able to 
help you think through the ways 

562
00:32:51,900 --> 00:32:55,800
that I imagine these issues, the
ways that I anticipate, the law 

563
00:32:55,800 --> 00:32:59,200
will impact projects, and I'd 
love to have real time. 

564
00:32:59,400 --> 00:33:02,100
Interaction. 
So I encourage anyone who has an

565
00:33:02,100 --> 00:33:04,300
interest in this space to come 
with your questions, and let's 

566
00:33:04,300 --> 00:33:06,600
work it through next week. 
Awesome, thank you so much. 

567
00:33:06,600 --> 00:33:09,300
I'm looking forward to it. 
I'll be there hosting 

568
00:33:09,300 --> 00:33:12,800
co-hosting, it as well with Joe 
to facilitate your questions 

569
00:33:12,800 --> 00:33:14,600
next week. 
So looking forward to seeing 

570
00:33:14,600 --> 00:33:17,400
Folks at the aiga design and 
business conference. 

571
00:33:17,600 --> 00:33:20,400
And that was it for today. 
Thanks for tuning in life. 

572
00:33:20,700 --> 00:33:24,400
Oh yeah, yes, no, no worries. 
Sorry, I just kept going. 

573
00:33:25,200 --> 00:33:28,300
Where can folks find you online?
It's actually got here on 

574
00:33:28,300 --> 00:33:29,900
LinkedIn. 
Is a great Great place to 

575
00:33:29,900 --> 00:33:33,000
connect. 
I'm active on LinkedIn left, 

576
00:33:33,000 --> 00:33:36,400
active, but somewhat so on 
Twitter, homes, that law is my 

577
00:33:36,400 --> 00:33:41,600
handle there, and the website is
homes H 0l in the S ATL. 

578
00:33:41,600 --> 00:33:45,500
Aw, so please connect with me, I
love to talk to folks about 

579
00:33:45,500 --> 00:33:47,800
projects and I'm happy to make 
connections. 

580
00:33:47,900 --> 00:33:50,800
Awesome homes out Lon Joanne 
homes. 

581
00:33:50,800 --> 00:33:53,700
Thank you so much again. 
And looking forward to next 

582
00:33:53,700 --> 00:33:54,700
week. 
See you later.

