>> GIVE ME AN EXAMPLE ?
>> ONE OF THEM IS LYRICS.
VERY FAMOUS SONG LIKE YESTERDAY
OR SOMETHING LIKE THAT.
>> ARE YOU BUYING?
>> YOU ARE NOT BUYING FOR PEACE
OF PAPER THE LYRICS ARE WRITTEN ON.
>> IT’S INSANE.
LIZ: HE SAID IT IS A SCAM.
HOWARD STERN YESTERDAY
EXPRESSING FRUSTRATION ABOUT
NONFUNGIBLE TOKENS, DIGITAL
VERSIONS OF SONGS THAT CAN BE
BOUGHT AND SOLD.
RECORDING ARTIST NEO HAS
SOMETHING TO SAY ABOUT THAT.
HE’S GOING ALL IN BY PARTNERING
WITH LOOM TO CREATE NFTs THAT
SERVE AS ALL ACCESS PASSES SO
FANS CAN UNLOCK EXCLUSIVE PERKS
WITH THEIR FAVORITE ARTISTS.
JOINING THE IS SONGWRITER,
ACTOR AND LOOM PARTNER NEO AND
MAX FERGUS.
HOWARD CALLED NFTs INSANE AND A
SCAM.
TELL ME WHY HE IS WRONG.
>> HE SAID HE DOESN’T KNOW WHAT
IT IS.
WHAT HE WAS SAYING WAS COMING
FROM AN AGREEMENT PLACE.
MAYBE YOU SHOULD GET MORE INFO
ON WHAT IT IS BEFORE YOU STOMP
ON IT.
THAT MAKE SENSE TO ME.
LIZ: HE SAID I DON’T GET IT BUT
A LOT OF PEOPLE DON’T.
CLEARLY YOU DO.
TELL ME WHAT YOU ARE GOING TO
BE DOING WITH YOUR NFTs AND WHY
PEOPLE SHOULDN’T FEAR THAT AS
SOMETHING THEY SHOULDN’T TOUCH
OR OWN IN THE OLD-SCHOOL
VERSION OF OWNING SOMETHING.
>> I’M NEW TO THE NFC SPACE
MYSELF.
I DO NOT THINK IT IS A SCAM.
I THINK IT IS THE FUTURE.
MY PARTNER MAX IS MORE VERSED
IN THINGS OF THAT NATURE.
LOOM ORIGINALLY, WE HAVE BEEN
INNOVATING FAN AND ARTIST
RELATIONSHIPS IN THE REALM OF
ALLOWING FANS TO BE ON THE
GROUND FOR WITH AN ARTIST AS
THEY WORK THEIR WAY UP,
SUPPORTING THEM EITHER
FINANCIAL YOUR WHATEVER THE
CASE MAY BE.
WE ARE SWITCHING TO THE NFC
SPACE BECAUSE THAT IS THE
FUTURE.
MY TECH TONGUE IS NOT AS
POIGNANT.
I WILL LET MAX EXPLAIN.
LIZ: MAX, WHAT IS IT THAT MAKES
-- I’M NOT GOING TO USE THE
WORD SCAM BUT A 1-SIDED
RELATIONSHIP WERE ONLY ONE
PERSON IS TRULY MAKING THE
MONEY AND EXPLAIN HOW IT IS AN
OPPORTUNITY FOR THE FANS AND
THE ARTIST.
>> APPRECIATE THE QUESTION.
AT THE END OF THE DAY IT IS
NEW.
CONSUMER INTEREST STARTS TO
INCREASE IN BLOCK CHAIN.
THERE IS LACK OF KNOWLEDGE
ABOUT THE INNOVATION WE ARE
SEEING SO IT WILL LEAD TO
SKEPTICISM LIKE EVERY INVASION
WE’VE SEEN IN THE PAST. THE VOLATILITY OF THE CONDO
THE VOLATILITY OF THE CONDO
MARKET IS CORRELATED TO AN NFT
BEARISH BLOCK CHAIN AND
CONSUMERS ONLY SEE THE BAD.
THOUSANDS OF SMART PEOPLE BUILD
INFRASTRUCTURE, THE DOT.COM
BUBBLE AND THE SOCIAL MEDIA
BOOM.
LOOKING AT PAST DATA AND
INNOVATIONS WE’VE SEEN IN THE
LAST FIVE YEARS ALONE IN A NEW
EXCITING FUTURE.
LIZ: HOW EXCITING IS IT FOR YOU
AS YOU LOOK AT OPPORTUNITIES,
WHAT DO YOU ENVISION?
HOW DO YOU CONNECT WITH FANS,
STRANGER SONGS OR THEY CAME TO
ONE OF YOUR CONCERTS?
>> THE PLUS FOR ME TO INTERACT,
I HAVE BEEN A VISUAL ARTIST AS
LONG AS I HAVE BEEN SINGING AND
WRITING.
THIS ALLOWS YOU TO INTRODUCE
THAT SIDE OF YOURSELF, ANOTHER
WAY TO DO THE THINGS WE DO.
IT MAKES PERFECT SENSE.
LIZ: YOU ARE DEALING WITH
SUPERSTARS AND EMERGING ARTISTS.
WHY DIDN’T YOU GO THE TALKER --
THE TOKEN ROUTE, A CRACK DOOR
OPEN SO THEY COULD GET SPECIAL
OFFERINGS AND T-SHIRTS AND
THAT’S THE WAY TO CONNECT WITH
THEIR FAVORITE TEAM.
>> USING BLOCK CHAIN
TECHNOLOGY, NOT JUST WITH THESE
TIER 1 ARTISTS BUT INDEPENDENT
MUSICIANS WE ARE LAUNCHING THE
ALL ACCESS PATH AND OUR
PLATFORM AND THE REASON WE WENT
THIS ROUTE IS TO CREATE ART --
PROVIDE THE EASIEST ON-RAMP
POSSIBLE.
MANY OF WHICH FOR THE FIRST
TIME, THE LARGER GOAL IS TO
PROVIDE ARTISTS AND CREATORS A
LONG-TERM SOLUTION SO BY
CREATING ACCESS WE CAN BUILD
OUR ARTISTS COMMUNITY IN THIS
NEW SPACE.
THIS IS GONE BEYOND THE ONE OFF
NFT MODEL HOWARD STERN WAS
TALKING ABOUT AND PROVIDE FANS
THE ABILITY TO PARTICIPATE IN
THE SUCCESS OF THEIR FAVORITE
CREATORS AND GET REWARDED FOR
BEING PART OF THE DIGITAL
COMMUNITIES AND ONE OF THE
THINGS WE HAVE BEEN SEEING IN
THE LAST FEW MONTHS.
LIZ: IF HOWARD WERE IN FRONT OF
YOU, WHAT WOULD YOU SAY AND
WILL YOU SEND HIM AN NFT?
EDUCATE HIM.
>> I WOULD SAY IF YOU’RE
CONFUSED, THERE ARE A MULTITUDE
OF PEOPLE WHO COULD EXPLAIN IT
IN LAYMAN’S TERMS AND WE COULD
HAVE THIS DISCUSSION.