Richard Carthon Of The Edge Of Company - Pioneering The Future Of Web3 Tech And Culture

August 4, 2023
NFT Richard Carthon | The Edge Of NFT

Welcome to a brand-new chapter of The Edge of NFT podcast! We're thrilled to introduce our new host, Crypto Current CEO Richard Carthon, as he takes the reins of this cutting-edge show and leads us into the fascinating world of NFTs with a fresh perspective. In his first episode with us, Richard shares his passion for blockchain technology, digital art, and the limitless potential of NFTs. As an NFT enthusiast and tech aficionado, he brings a wealth of knowledge and a deep curiosity to the show. With the rapidly evolving landscape of blockchain and NFTs, we're excited to explore groundbreaking projects, game-changing innovations, and insightful interviews with top creators, collectors, and industry experts. Richard's vision for the podcast is to delve into the untapped possibilities of NFTs, uncovering their impact on art, gaming, entertainment, and beyond. Join in and share in this excitement!

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Listen to the podcast here

Richard Carthon Of The Edge Of Company - Pioneering The Future Of Web3 Tech And Culture

This is Richard Carthon, your new host of the show. This episode talks about my journey into the world of all things Web3. Join me as we help you on your journey to learning more about all things Web3.

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Stay tuned for this episode. Learn how our guest and our newest co-host’s first step into AI immediately took a twist and inspired his passion for blockchain technology, plus how slinging in chocolate bars as a young man led to our guest’s stellar sales skills.

Also, learn how Snoop Dogg joined a $20 million Series A funding round for music NFT Platform Sound.xyz. It's official. You can now dive into the captivating world of artificial intelligence with this show. Join us as we explore the frontiers of AI and its impact on our lives. Subscribe now on your favorite platform and follow us on Twitter at @EdgeOf_AI and LinkedIn for exciting updates and insights. You can also visit our new website at EdgeOfAI.xyz.

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Our guest is our newest host. We are featuring Richard Carthon, our newest host of the show and a key member of the Edge Of Team. Richard has gained notoriety for his collaborative approach to challenging the existing practices of startups, small businesses, and established firms. He has an extensive background in media, producing over 300 episodes on his previous podcast, and his claim to fame started when he scored a touchdown in the movie, The Longshots, back in 2008. He has had a curiosity in media ever since. Richard's listeners have described him as authentic, lively, and knowledgeable. Richard, what's going on? Welcome to the show.

What's up, everybody? I'm glad to be a part of this. We can now dive a little bit deeper and you all can learn a little bit more about me as we keep learning more about all these other movers and shakers in the world of Web3. Glad to be here.

I'm sure folks have been reading this show learning about your passion for sports and gaming and your unique perspective in the space and wondering, “Who is this guy?”

I get to get a little deeper insight into a little bit of that. I'm pumped to be able to share some of that with you all.

It's been amazing working with you for years. You have been such a key member of this squad and you are so multifaceted. It's great to have you around. I know I'm going to learn some things about you now as well.

It's been a lot of fun. I'm good about work to get done, but still plenty more to get done. It's been a lot of fun to meet all of the amazing people still in this space no matter what's going on, and we still have a lot of awesome people to meet as well.

There's a lot more wood to chop. Speaking of chopping wood, which is such the quintessential cliché around being an entrepreneur, it fits the bill. You have been a serial entrepreneur with a pretty unique beginning to your career, and this is one area I'm curious to learn more about. How did all this Richard Carthon media business get started?

I went to college at Tulane University. I was a dual sport athlete. For most of my life, I thought I was either going to be a doctor or a lawyer. In freshman year, I discovered I didn't like Math and Science. I said, “We are going to be a lawyer.” In my junior year, I started to learn about entrepreneurship. I started my first startup and built a website and even built a mobile app. It was a lot of fun. It was a part of me that I never knew was there. It sparked my curiosity. Going into my senior year, I had my first startup that I would be able to raise money for and got into law school. I was trying to decide if I should do that or do I pursue this passion. I was like, “Let's see how it plays out.”

I was able to start my first job as a financial advisor for Merrill Lynch doing wealth management, but then I was also able to do my startup, which at the time was a calendar application that I called Follow My Account. I was able to raise some money for it about six months into the job and decided, “I'm going to go all in. Let's see what happens.”

I was able to hire my first employee, go through the whole thing, and I was able to go through some accelerators in New Orleans and it was awesome. I got to a point where I had to make a critical decision about how I extend my runway because I found my product market fit, but I needed to raise more money to build those parts to then turn into a SaaS model because, originally, it was a B2C, but I turned into B2B.

I went from trying to like, “Do I get a ton of users?” Eventually, I monetize it to, “I have a little bit of users. They are willing to spend money on it. Let's flip the switch and turn that on.” From doing that, I took myself off of payroll and fortunately had to let go of my employee and started doing some fundraising in the background while I started a job in AI as a sales rep. That's how I first learned about crypto. That was a very untraditional way of getting into entrepreneurship but then also learning about what would become my future passion.

Part of entrepreneurship that is so difficult is they don't tell you the part where you only have so many chess moves on the board. You might be able to go back 1 move but you can't go back 10 moves. Sometimes at the end of the day, despite that effort to keep persistent and curious, you can run on a chess move.

There are a lot of great lessons that you probably learned that can apply to any company. It goes to this lean startup mentality that we always talk about on the show. It's so important, Web3 especially, where you get these companies with these massive visions and roadmaps. Do they have product market fit yet? Have they discovered who their true customers are?

It's a hard one. Blissful ignorance can bring you a long way to be persistent enough to want to keep figuring things out and saying, “No matter where it goes, I will keep finding a solution to keep things going.” There's a lot of good in that, but I also think it's good as you learn core lessons to be able to move faster or get the help that you need or discover how you can pivot faster and everything else. Pivot was a big word that I learned in the course what it means to be an entrepreneur. I have experienced burnout before and know what that means too. It's good to work hard. It's good to have a vision of where you are going, but it is also good to, every once in a while, take a step back, breathe the moment, and then be reenergized and get back after it.

It's good to have a vision of where you're going, but it is also good, every once in a while, to take a step back, breathe the moment, and then be re-energized and get back after it. Click To Tweet

It is cool how you intersected with AI and blockchain early in your career and made me reflect on some elements of my career. We are starting this new show, which you probably know about if you have been reading the show or checking us out on social. Before I even got into blockchain, I was doing geospatial data intelligence work for the government when I started my first business with Jeff and some other guys.

We ended up creating an algorithm around how you serve people high-quality meals and a creative rotation where they don't get bored. There's an interesting juxtaposition between AI and blockchain. They are different paths to similar goals around operational efficiency and proving transparency but also protecting privacy, but at the same time, they do intersect for a lot of people over the years and now they are both on fire. I'm super curious how that plays out in the next few years, which is one reason we have these two shows.

When I pivoted and started working at this AI company, the first day on the job, the boss said, “What do you know about Bitcoin and Ethereum?” I said, “What is that?” He said, “Those are cryptocurrencies.” I said, “What is that?” He said, “Look into it.” I did. I went down the rabbit hole and immediately became immersed and thought that this was my internet moment. This is my opportunity to get in the front of this new innovative technology that's going to transform.

My first love was Ethereum. It made sense to me. It was a platform and language that things would be built on top of these decentralized apps, these gaps, and all this stuff. You started having all these terms that started coming up that I had no idea what any of them meant, but I wanted to learn. I started to go online and a lot of the information at the time. This is 2018 at the top of the market before that first crash where Bitcoin was at $19,000 and Ethereum was at $1,800 and Ripple was at $2.

We know what happens next. What's interesting about that moment was all the information online was either super technical or how to get rich quickly. Nothing was trying to break things down, make it very simple, and help your common person be able to see what's going on. I wanted to learn and I wanted to help other people learn on my journey. I created a podcast called Crypto Current that I ran for a few years with over 300 episodes. The whole idea was to boost the gap between people who do nothing with thought leaders.

NFT Richard Carthon | The Edge Of NFT
The Edge Of NFT: All the information online was either super technical or how to get rich quick. Nothing was trying to break things down, make it very simple, and help your common person be able to see what's going on.

On that journey, I was able to make so many amazing connections. I have learned a ton and then be able to educate people along the way. It has opened a lot of doors to other things within the Web3 blockchain space. To your point, things have come full circle. I started in AI. I got passionate about blockchain and now going back into AI, getting even deeper into it. It's all very synergistic and lets me know that going down this path was the right way and where I was meant to be.

There's a lot I can relate to. That's one reason why you have been such a great fit for the culture here at Edge Of Company. You skimmed past over 300 episodes of a show as someone who's been podcasting. We have done 250-plus episodes. This one is probably around 260 if I'm not mistaken. That's a heck of a lot of media training or on-the-job training that you got. It's interesting how it led you to do some event stuff and now become here. I'm curious if there are any special episodes of this show that stood out for you as career-defining moments or were enlightening in some way that impacted your journey.

I will point to two. The very first one that impacted me was I interviewed Yan Pritzker who's the CTO of Swan Bitcoin. They were very young at the beginning of their journey and they are huge now. They have their conference and all this stuff. He was breaking down why Bitcoin is so important and revolutionary and why it's a strong consideration to have some diversification into it.

He told me a story about how unfortunately his grandmother was around the Holocaust times, ended up leaving, surviving, and then going over to the States. When that happened, the only value that she had to think of was jewelry, and then the guards took it from her. When she got to America, she had nothing and had to build it up. If something like Bitcoin existed, being able to know a seed phrase and have it be in a place, you don't even have to physically have a drive on. You are able to go anywhere in the world, remember your phrase, and now all your wealth can go with you. That's that generational wealth that stuck with me. It was the first time I started considering the diversification of Bitcoin, what that means, and how that can evolve. That was impactful for me.

Another cool opportunity was speaking with ShapeShift when they announced that they were going to be the first DAO organization. That was such a fun conversation. It was this new thing DAO or Decentralized Autonomous Organization what it means and all those things. He was able to break that down for me explaining how the company was going in that direction.

I got a real keen interest in that and started getting more involved with DAOs. I live in Austin, Texas. I'm now part of the ATX DAO. I started to participate in that and understand that DAOs are the new age LLCs and how that can impact the future of the world. It's been a lot of fun discovering and learning about so much innovation happening in this space early as things are being built and then starting to see where things ultimately land and end up.

Austin has a great ecosystem and glad to have you on the ground there, having eyes on what's going on in that part of the world where I'm holding down the fort in Venice. Not a bad spot either. When did NFTs cross your paradigm and what was that like?

I have been in this space since 2018. I started to educate and do all this stuff. When everyone's ears perked up, everyone wanted to learn information. It was in 2001 when the NFT started to take over. This is early 2021. I have aunts, uncles, cousins, and friends hitting me up, “What is an NFT? I know you are in crypto and all that. That sounds cool. Tell me about NFTs.”

It was that a-ha moment of we always talk about what is that intersection between bridging the gap between Web2 and Web3. That first moment for me was when I started to see, “This is happening with NFTs.” I know enough about NFTs. I heard about them from a good friend of mine. Shout-out to Blockchain Wayne. He is the one who introduced me to Josh and the Edge Of Team. One of the first episodes I had was him talking about NFTs.

I knew about this back in late 2018 or early 2019 but didn't pay a lot of mind and attention. I should have missed out on that one, but it reinvigorated the need to be able to learn more about this. I started digging more into this and getting more involved in some different communities and everything else. When we eventually met, I was deeper along my NFT journey and there are a lot of synergies between the immense space, NFTs, Web3, and being able to expand all that. There was a ton of synergies in wanting to come, participate, and be a part of the Edge Of Team.

You were trying to figure out what was next for your journey and you didn't take the decision to join our team lightly. It was a big decision on our side too because we care a lot about the DNA of this company. Every member of the squad not only integrates with that DNA but helps us evolve that DNA over time. I'm curious. Why us?

The Edge Of Team is doing a lot of awesome things. I did an event back in 2019 in New Orleans introducing Web3 to that local community. When I came to Austin in 2020, I knew I wanted to do an event, but COVID happened. I then decided, “Let's do one in 2022.” The end of 2022 was rougher conditions. A lot of big things started happening such as SBF and everything else going on. Timing is always impeccable, but I knew that I liked events. I knew that I enjoyed being able to bring people together and have them both be educated network and overall have a good time. I enjoy that process and I wanted to learn how to scale that up.

I also wanted to see how I could grow to the next phase and what it means to be a larger media company. I was starting to go through this and starting to process a lot of it. Shout-out to Wayne. I met him at a conference and was walking him through my thinking and everything else. He was like, “I got someone great to introduce you to.” He talked about Josh. He is like, “They are looking for some help. They are getting ready to do NFT LA, which is now rebranded to Outer Edge LA. They need some support and I'm happy to make an intro.” I did and we have been working together since. It's been great to see one being able to pull off that event in general.

It was awesome getting to see or meet all the different people. We get to go and have a lot of cool experiences between getting to go to places like November, being able to go to consensus, and our event. We still have more places to go later this 2023. It's amazing to keep meeting these people building now during the hardest time to be building during this bear market. The bear markets are tough. You see here what people are made of. Also, knowing that surviving this moment where the seeds that we are planting are going to bear such great fruit and trees once we get on the other side of this, and I feel good about that.

NFT Richard Carthon | The Edge Of NFT
The Edge Of NFT: Surviving this moment, the seeds that we're planting are going just bear such great fruit once we get on the other side of this.

I'm looking forward to our upcoming trip to Seoul, Korea for Korea Blockchain Week and then we will be heading over to TOKEN2049. If you are reading and you are going to be on the ground in one of those places, drop us a note. Let's meet up. Let's figure out some ways to collaborate. Let's build in this builder's market together. Let's eat some good Korean food or Korean barbecue. I'm all about that.

I'm pumped for it. We are going to eat good and see some new stuff. Even when we go out to Singapore, it would be cool to see that culture as well. Those are some fun things ahead.

Let's get people a little glimpse at least behind the scenes at what's going on in the Edge Of Company. We are a team and everyone touches a little bit of everything. It's the Web3 way. We have been helping get this show off the ground, which by the time folks read this we will have officially launched. That's an exciting milestone for us. What else have been cooking up?

As Josh said, it was a big decision to decide to launch another podcast in conjunction with everything else we are doing. There is a lot of work going into that and continue to expand it. That was a good focus. Also, looking within the organization itself. During various times, you have to become creative and scrappy and figure out efficient ways to get a lot done.

We have been doing a lot of things within our brand and figuring out how to update our branding content. Also, figuring out from an internal org how to maximize the amount of goods and helpful tools that we can give to our end readers. Ultimately, all the information, things, and content that we are creating is for you, the end reader or end user, so how do we keep amplifying that? How do we keep making sure that we are growing that community and providing the things that you care about and that you love and that you keep coming back and reading us for?

It is finding those key things, amplifying them, and then how I help make the process to get there a little bit more efficient. On top of that, looking at our big major event, what the future of that looks like. What are some cool partnerships that we can put together? What are some strategic things the people that we can be working with keep putting on such amazing content and doing more things like Twitter Spaces? We did one that went extremely well. Shout-out to everybody that came and visited us on that.

Thanks to Kreatorhood and Boardroom Ventures for collaborating with us on that cool Twitter Space that we had. Over 400 or 500 folks have come by there, and that will also be an episode on the show. That was pretty fun.

There are a lot of cool things that we can continue to do. We build because we are still a startup. We are building as well. It's how we keep amplifying what we are doing to amplify the voices of the builders and creators that are still here and that will be here after we get out of this bear time. There are a lot of things to be excited about. If you are reading this, then I hope you are excited to keep following us on that journey because we have so many cool things still coming as we keep going down this journey.

I'd like to get your perspective on AI. We have this show coming up. We are going to be talking to inspirational founders, builders, artists, creators, and folks using AI for different use cases. We will talk about the news of AI, but we all have this innate reaction to the word at this point based on what we have read, what we have seen, and what we have experienced personally. I'm curious where you are at when it comes to how AI will continue to evolve and potentially cross over to Web3.

The future is here and is here to stay. It's a matter of how we keep amplifying tools. When the internet first came out, there was resistance to using the new technology. It was the people that started using these little micro chasms that started getting people more curious like how you can buy a thing and start buying products.

AI is the future and it's here and it's here to stay. Click To Tweet

That was the first book that I got more people going. In Web2 it was social channels or your social networks like MySpace, Facebook, and everything else. It was the interactions in the community building and doing things like that. When I look at AI, it’s one of those new tools that can be used to amplify and do a lot more with way less. Technology is moving at such a pace now that there are some jobs that will be obsolete in the future the same way that jobs that exist now weren't even considered or could even be comprehended back in the '90s.

Jobs that exist now as we look at over the next decades, there are new jobs that are going to exist that we can't comprehend or could have even conceptualized until this continues to develop. The way I look at it is how we learn about tools that we can start using to amplify and make things more efficient and those are the people that are going to thrive and be able to maximize the technology that's here for us to be able to use.

Even the role of social media manager was not even a concept that people would have considered several years ago. There was a point where a very small percentage of the world was using social media, and then all these different social media needs came across and it's continuing to evolve. We had Threads come out of nowhere and get a massive amount of users and now we have to all have to figure out what that looks like.

It's part of the nature of evolving technology. We didn't need Slack managers. Slack wasn't a thing, but now it is a thing. I'm having a lot of fun playing with ChatGPT for my life and then also as it applies to our business. I'm curious about what you have done in that area. I showed my trainer ChatGPT and I completely blew his mind.

He loves to do jiu-jitsu and he's like, “I feel like I need a little bit more of an edge on my practice.” I asked ChatGPT and then ten different ideas for how he can incrementally improve his jiu-jitsu game outside of the normal going to classes, working out, and eating well. It opened up his eyes and now he is using it every day.

On the business side, contracts are pain and sometimes you want to add a clause to an agreement ChatGPT isn't legal advice but it can get you started. When you go into a conversation with your legal counsel, you have a starting point where it's less of their time that you are having to spend and less of your time to articulate the type of agreement you are trying to create. That's been helpful too, and there are so many cool use cases. Have you been messing around with this?

I have. Something I want to add here, especially for people who are reading this and haven't exactly used ChatGPT yet. When you think about doing a thing or starting something, usually the hardest part is starting or having a creative place to insert and start to do a thing. By having any type of prompt, you can now get the wireframe or the framework to go in and adjust, alter, and have it start shifting and shaping more towards your voice, or idea, or evolving it into something that feels more like yourself.

A lot of the time when you go and do research or if you are going to go look up something like, “Let's say I want to cook a chicken pot pie.” If I were to go on Google right now, it's going to give me ten results. I have to click on one and maybe I click on another, click on a third, look through those three and I say, “Maybe these three work.”

If I say in ChatGPT, “What are ten different ways to make a chicken pot pie?” Within two minutes it's going to give me all of these different things. Now, I didn't have to go to all the different places to source all this information. It's giving me all these different prompts and I can look and be like, “I want to do that one. That one speaks to me. This feels good.”

It's being able to take what would take a lot of energy and time to start the creative process. It's given you that immediate wire frame and starting point to go from there. I feel like it helps a lot of necessarily ask creative people to be able to jump into something a lot quicker. Speaking of jumping in, I know this is something you anticipating and looking forward to. You have a little bit of the upper hand because you have read these questions to others, but we have a segment called Quick Hitters where we get to know you better. Are you ready?

NFT Richard Carthon | The Edge Of NFT
The Edge Of NFT: ChatGPT helps a lot of creative people jump into something a lot quicker.

Let's do it.

For those of you reading, Quick Hitters is a fun and quick way to get to know our guests a little better. There are going to be ten questions, we are looking forward to a short single-word or a few-word response, but Rich will have a chance to expand if he gets the urge. The first question is, what is the first thing you remember ever purchasing in your life?

Candy. My dad used to give me and my sister allowance for doing household chores like taking out the trash and cleaning stuff. Every Friday, he would take us to this local Circle K or something like that. He gave us our allowance and said, “If you want to get something, go for it.” My very first thing I believe was some Skittles.

I had a local convenience store too and may have been one of my go-to spots. I like Leches. That was my thing. It was a Spanish store and that's where I discovered Leches way before they were super popular. What is the first thing you remember ever selling in your life?

The first thing ever sold I believe was candy bars for a sports fundraiser. A lot of times when you are in these youth things, they do fundraisers so you can go travel and play in these different leagues. You always have these things you go sell. Usually, for us, it was chocolate bars. I remember selling those chocolate bars.

I would anticipate given your role in our company and what I have seen that you are pretty good at that chocolate bar sales racket.

I can sling some chocolate.

That is an interesting thing we do to our kids in terms of how we teach them entrepreneurship by making money for someone else and giving them a little consolation prize, but such as the beginning of the entrepreneurial journey. It's good practice, nevertheless. What is the new thing you remember purchasing?

It was this thing I'm using, which is my new computer. My last one finally crapped out on me. It gave me some solid years but it was time so I got the MacBook Air. That was my new purchase.

I'm going to need another one of those soon. What is the new thing you sold?

I sold a package for Edge Of.

One and done. Thank you, sir, for that. What is your most prized possession?

My most prized possession would have to be my wedding ring right now. I got married a few years ago so I was always looking forward to every day when I put it on. It's a nice gentle reminder.

If you could buy anything in the world, digital, physical service, or experience that's for sale, what would it be?

A trip around the world. I want to keep exploring everything that's out there. I am from a town called Shreveport, Louisiana and I never had real ambitions of seeing a lot of the world my wife is a very adventurous person that has seen a lot more than I have. The only place I have ever wanted to see was Australia. Literally on our first date, she asked me like, “Where's the place you have always wanted to go?” I said Australia. She said, “If you stick around with me long enough, you might go.” I went and saw some of her family in Sydney and then after that experience, I was like, “There's so much more out there. I want to see more.” I would want to get the ability to go on a worldwide trip.

I have been to 40 countries at this point, but my thirst to see more of the world increases over time. It never ends and everyone should get out there. It helped me get perspective on life, see different cultures, and appreciate how essentially wherever you live. You live in some bubble because there are other people doing things differently, experiencing the world differently in other places.

It provides perspective for personal and business in terms of what makes the world go. Plus, I love to eat so always down to explore new places from a culinary perspective as well and that's a lot of fun. I'm with you right there. Let's talk a little bit about your personality. If you could pass on one of your personality traits to the next generation, what would it be?

Resilience. I grew up playing baseball since I was four years old and baseball is a sport where if you are successful 3 out of 10 times you are considered great. Most of the time you can fail. You are going to do a lot of things right and you could still potentially get out. It was a great lesson on what it means to be resilient and to keep bringing your best effort. Even when you do your best, sometimes you still get out but it doesn't mean that you don't keep bringing that same energy every time.

Even when you do your best, sometimes you still get out, but it doesn't mean that you don't keep bringing that same energy every time. Click To Tweet

On the flip side, if you could eliminate one of your personality traits from the next generation, what would it be?

The personality trait I would get rid of is interesting because it's not quite ego but it's more of when ego flirts with arrogance. I feel like people need to be confident. I feel like people need to be able to feel very firm in themselves but not to the point of arrogance where you think you can do no wrong. Especially from my younger self, not extreme arrogance.

I appreciate that and you are doing a pretty good job if I might say so. I asked ChatGPT what that point was because I was curious. The point where ego flirts with arrogance is when one's self-confidence or self-importance becomes excessive leading to a sense of superiority and disregard for others' opinions or feelings. It can have a negative impact on relationships and hinder personal growth and self-awareness. Striking a balance, being confident and humility is essential to maintaining healthy interactions with others. Thank you, ChatGPT. I think we both agree.

Great quick summary. Going back to how swiftly you get a great summary.

What did you do just before joining us on this show besides hanging out with me?

I had a nice workout before, so we will we will go there.

Cardio, hybrid, or weights, a little of everything.

All of the above. A little weight session and then a nice bike ride.

What are you going to do next after the show?

Post-work. Interestingly enough, Blockchain Wayne is in town so there is a crypto event in town with local women in Web3 and an art exhibit, and then I'm going to go get some dinner. I'm looking forward to that.

Sometimes we have a bonus question. I feel like we should do one here. Why not? I know you enjoy entertainment, movies, films, Netflix, and whatnot. What is the type of show or movie that you could binge-watch?

Anime. I'm a big anime guy. I grew up on Dragon Ball Z, Pokemon, and all this stuff. I'm a grown man. I still loved anime and have no shame about it.

I'm going to have to learn a little bit more about anime from you because that's not an area that's crossed my palette yet, but I'm game to learn. Good to know.

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That is the end of Edge Quick Hitters and we have a little bit of time left. Should we do one hot topic?

Sure.

I'm a big fan of this team so let's cover what's going on with Sound.xyz. Snoop Dogg has joined their $20 million series, which is their new funding round, which is pretty exciting. This is going to propel them to expand their NFT platform for music. According to Sound, the platform provides tools for artists to upload stream, and monetize their music as NFTs without third-party infringement of any kind.

Sound also says it lets artists keep 95% of the proceeds from the work and 10% of every resale without giving up any ownership of their master or publishing rights. It earned $5.5 million last year 2022 on the platform. The artists have earned that much, which is incredible. When you compare that to what they can earn from Spotify, it's equivalent to $1.5 billion streams on other platforms.

Doing real things in this space. Folks like Reo Cragun who we have had talks with us at Outer Edge and also on Twitter Spaces are generating more than $300,000 from his music and built over 500 collectors in a year. Pretty awesome. It’s cool to see Snoop get into the mix. I know Cordell also is in the mix for Sound. Have you had a chance to mess with it yet?

I haven't had the opportunity to mess with sound yet, but one of the first things that excited me within the world of Web3 and even NFTs was how to use those dynamics for music and artists. One of my good friends was very involved in that space and was explaining the business to me for a lot of artists. Unless you have that one big hit, you can be a local celebrity star but never monetize your plays or your streams.

The real money is through touring and even through touring a lot of the time the money that you have to make is through your apparel, through what you sell, through the shirts, and everything else. That whole model blew my mind. Now with Web3 disrupting that and now saying, “No. You can make a living through your streams.” It’s incredible and I'd like to hear stories like this of companies that aren't talking about it but doing it.

Music has always been an industry that's all about disruption and it's taken some interesting twists and turns with Napster and then Spotify and how the music labels work with the artists. It's been challenging for a lot of artists in this particular industry to be able to create a sustainable and consistent revenue stream. Sound is doing some cool things. I'm excited about their journey. I'm glad to see that they have Snoop Dogg in their corner now. Good stuff there.

Uncle Snoop is a businessman. He is involved with a lot of stuff. He got his hands on a lot of things. If there's one thing I know that will be good about it people will pay attention. This is one that I'm now starting to pay more attention to.

As we wrap up, we should let readers know where to go to learn more about you and what you are working on. Feel free to shout out those socials.

I will shout out one. Follow me on Twitter @RichardCarthon and look have links to all the things I'm involved with, especially everything going on in this show. I'm excited to keep being on the show and being a part of this journey. I'm excited to learn more about the readers too. If you read this show or something else and you like what you read, you have comments or you have constructive feedback, I'm all about it. Send it my way. Send me a tweet. I will let you.

Thanks for that. It's great having you as part of the team. This was a fun episode for me to take a moment and get to know you better. We are moving so fast together and doing so much. It's nice to step back and unpack who you are and what you are all about as well along the way of this rapid journey we call Web3.

We have reached the outer edge of the show. Thanks for exploring with us. We have got space for more ventures on the starship, so invite your friends. Recruit some cool strangers to make this journey much better. How? Go to Spotify or iTunes now. Rate us and say something awesome. Then go to EdgeOfNFT.com to dive further down the rabbit hole. Look us up on all major social platforms by typing EdgeOfNFT and start a fun conversation with us online.

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