But I'm excited to set this call actually happened because I was hanging out with Bo a couple weeks ago
And I've been looking at doing some some crypto and Dow stuff, and we just started talking
I think we had an hour-long meeting
I think was an hour long and we ended up chatting for
Two and a half hours three hours, and then we were just scratching the surface and so I was like man
There's so much good stuff here. I would love to share this
I feel like a lot of people would have known and I just thought the way that Bo shared
Kind of it just got me up to speed. I've been watching a lot of YouTube videos. I've been trying a lot of different
You know
Resources out there, but he kind of explained it in kind of a condensed way
That's sort of all kind of clicked and made sense
So I'm hoping you guys if you're joining tonight, and you're kind of new to this space this call is definitely gonna be for you, so
Awesome glad you guys can jump on here
Yeah, thanks, thanks Bruce. Yeah, we so I mean as Bruce mentioned. It's really just started out as a conversation
about web 3 and everything that it is currently and everything that we think it's going to become and
We just thought we would continue the conversation and invite more people
Into the room so glad to see you guys
Yeah, that's awesome, and so and you also mentioned in I think
We had said in one of the videos that it was
Over a trillion dollars right in the in the market right now. That's kind of shifted, right?
Yeah, so well it's interesting
We recorded the video for the ad and then it dipped below a trillion and now it's back up over a trillion there
Yeah, so we don't have to change
It's just kind of fluctuating right there
At the moment, but also I mean I think that's just one interesting data point
But it's it's a massive ecosystem that's growing rapidly so awesome
Very cool. Okay. Well, I'm gonna a couple things tonight like we're just gonna chat for a little bit
We're probably keep this to around 60 minutes
And so we're gonna dive into some some content Brett and Bo gonna just share
Some things we'll take maybe some questions at the end
And then we'll wrap up and we'll wrap up and we'll wrap up and we'll wrap up and we'll wrap up and we'll wrap up
and we'll do some questions at the end and
We've got a couple things we do at the end. So stick around to for that. So I'll turn it over to you to Brett
All right, you ready to go ahead and dive in or do you want to do you want to do quick and yeah
Let's just do some intros and
sure, I'll
Oh, you want to kick it off? Yeah. Sure. Sure. So um
Hey guys, I'm Bo Garrett
quick
Bio
I'm a web 3
enthusiast
Web 3 investor web 3 builder before that I did quite a bit in management consulting
during that time learned a great deal about networks and systems implementations and sort of took that knowledge and
Started looking at the web 3 world through that lens and found some really unique and interesting opportunities
and started pursuing those probably 24 months ago or so and
Just continuing to grow in this space learn about it. It's massive. There's something new to learn every day. But yeah, I love I love
Where it's at and where it's going. So that's a little bit about me
Awesome and then I
got my start in business and
hospitality food and beverage
Started especially coffee roasting company as well as a cold-pressed juice company in 2014 operated those companies
Started buying real estate in 2017 and still do that today and kind of fell into
crypto web 3 in late
2020 I had dabbled in it in 17 and 18, but really began to understand what it was
What was possible and then?
Specifically with airdrops, which we're gonna get into in a second kind of fun. I
Happened on an airdrop by accident and really wasn't even sure what I was doing
And then when this web 3 company airdropped me ownership in their company
I was I remember running into the kitchen and telling my wife like you're not gonna believe this this company just gave me
Ownership and look how much it's worth. This is crazy
And that led me on a long and fun journey of discovering that that's very common in web 3
so excited to dive into that and
Yeah, I wasn't on the call with Bruce and Bo and their first call that would have been really fun
to be on but
Yeah
Thanks, Brett, and I'll just mention to you guys just so you know, maybe put the pieces together
Brett and I have known each other for a while and
We had sort of parallel web 3 journeys and just started talking about it
And we realized how much each one of us had sort of you know
Dived into the space and we just started having weekly lunch
And out of that weekly lunch that conversation kept going and really we started to get the tremendous amount of requests from within our networks on how to navigate this whole space how to, you know, use the software, how to buy coins, how to get
acquisition for airdrops, you know, all types of things that people are interested to learn about and that's happening and so once again I think really we're viewing this as a continuance of those conversations and we just want to make other
people privy to it and give them an opportunity to learn from the experiences that we've already had. So, let me just say real quick before we jump into to the content that Brett's going to share with us tonight.
I want everybody to have this concept in their mind as we go through the training.
So web one was essentially a dial up modem, and you get online and you look at billboards, basically, it's just information on a screen that you're reading.
And it's very interesting but you can't really interact with it there's not much you can do outside of sending email.
Then web two came along and that was the proliferation of social media and the ability to to read the information, but also right back to the internet, which is basically writing back to server sharing the data, and the entire web to ecosystem as we all
know was built around the data that we shared with companies in order to for them to monetize it and to show us products and services that we might like.
So web two is is relies heavily on the ability to extract data from users and use that for their, their own purposes and web three. So web one was read only web two was read and write and web three is read, write, but own.
So in web three you have the ability to own all of your information, all of your data, all of your privacy and interact with the web three ecosystem in us in an anonymous way, but in a secure way, and what Brett's probably going to go into a little
where in web two you have to have user credentials to interact, just about any service out there and the web to ecosystem in web three you don't, you have basically a wallet address that is your identity that is anonymous, that allows you to interact with these different
organizations these different services. So web three, I think, existentially, is the ability to control your own data, and there that has some profound implications for how we as users interact with each other, it basically removes the need for a middleman to validate
your identity, because you are the owner of that information and the owner of the security around that information. So that's the context that I'll say, you know, getting us up to speed to dive into this.
One other thing I mentioned, if you saw the ad, I mentioned in the ad that web three companies will pay you to use their software, and we're actually going to go into that in a little bit of detail tonight and talk about what that actually means and and how to how to start
researching and how to start considering ways you can get involved. And we're going to share why companies are doing that and why they're incentivized to do that. So I think that's that's the context and maybe maybe with that in place. And Bruce, do you have anything else before we jump in?
Yeah, I think that's great. I think just a couple of housekeeping rules, like guys, we're going to keep the chat open. We can all see it, Brett, Bo can see it, I'll keep it kind of moderate that. If you have questions, comments, feedback, this is very much a discussion.
This is chat. We're not just broadcasting one way to you guys. So so drops, you know, anything that you're that there's we're sharing or questions or something, we'll just drop those in the chat. And yeah, I think I think, really, the the context and the goal for this is, I'm going to be taking notes and learning this on my own, as well as you guys are teaching it. And I think from everything that we've heard, there's just these, there's just a so many tremendous opportunities in web three.
And you guys have literally invested thousands of hours into learning a lot of this stuff. And so just kind of hanging out with you guys and learning some of that has been super helpful for me. And I'm just every time I kind of dive deeper into I'm just seeing more and more opportunity. And so I'm excited to kind of learn kind of what you guys have to share and and see what I can do to best position myself to take advantage of that.
Awesome. And I know we want to get a quick disclosure out before we go too deep.
Oh, yes. Let me let me read that very quickly. So, so you guys are aware, this is not financial advice.
This workshop is strictly educational.
And it's not investment advice or solicitation to buy or sell any assets or to make any financial decisions.
This workshop is not tax advice. You should talk to your accountants, do your own research with anything that we're about to share.
I think one thing that we're really striving to do here is to focus on this as an educational platform and opportunity and not something that
we're trying to sell any tokens or any NFTs or anything like that. We're just sharing with you guys what we have discovered during our journey and trying to help benefit others with that knowledge.
Yeah, Beau, you and I were talking about this today. The really cool thing about airdrops as the Web3 ecosystem, it really is an ecosystem, is multifaceted.
And a lot of the press around it or the noise around it, even the education around it, revolves around price action and trading assets.
And this is not that. The really cool thing about airdrops is both getting in position for them and taking advantage of them or really positioning yourself for the opportunity
doesn't put you at the exposure of what a day trader or someone like that would, the risk that they would be exposed to.
This is really the low hanging fruit of Web3. And it's my favorite part as well, because in a lot of ways, it's kind of like treasure hunting.
And yes, as you'll see, once we get into the slide deck in a second, it does require some initial kind of priming with assets.
But all of those assets are your assets and you're not risking them, giving them to somebody else to invest for you.
Because this is Web3, you're maintaining custody of your assets the whole time.
And so this is not a lot of, actually, this is one of the least represented parts of Web3.
And so we love teaching about this because it is different than anything else you've heard about most likely in Web3.
So you guys ready to jump into the slide deck?
Let's do it. Yeah. And I know you were going to start with kind of telling us what's even possible.
Maybe just a quick summary before we dive too deep. I don't want to run ahead if you've got it in the slides.
Well, you mean example-wise?
Yeah, just I think someone would be able to see what's the difference. Yeah. Awesome.
Absolutely. I'll talk about it while I'm getting this pulled up. So while I'm getting my screen shared, that is.
Yeah, so I did mention earlier that I just really happened upon Web3.
I had joined a DAO, which we're not going to get into DAOs tonight.
But I had joined a DAO really just to educate myself on what crypto, what Web3 is beyond just, you know,
I can log into Coinbase and buy one asset and then I can sell it later if the price goes up or I can, you know, sell it if the price goes down.
Or I wanted I knew that there was more to it. And so I really committed myself to educating.
And so part of the education process for me was joining a an online crypto community that was really seeking to build better softwares,
essentially, at the end of the day and products and services for people.
And so I had been involved in this community for about five months.
And then I remember I woke up one morning and at that point I was committing myself to about 30 to 35,
40 hours a week on top of my real estate investing, you know, much to my wife's chagrin in the middle of the night.
Most of the time to education. I remember I woke up one morning and I had a notification that I had received an airdrop.
And so I had spent most of my time really up until then researching liquidity pools and, you know,
began to research kind of like the NFT side of Web3.
And so the word airdrop was very unfamiliar to me.
And and so I kind of I kind of clicked around a few buttons and boom, claim.
There's this claim button. So I hit claim.
And then all of a sudden, the balance in my digital wallet was substantially higher.
And I.
First, I thought it was an error. So I log, you know, I kind
of check a few things out. And it turns out, it was true, the
company had, it was my first airdrop experience, the company
had retroactively rewarded its users with ownership in the
company. And it had a dollar value on it, I could have, at
that time, exchange those tokens for back into a US dollar
position and taken profits. And I chose to keep them. I chose to
keep those tokens and to reinvest them. Actually, I held
on to them and ended up buying more when I when I kind of
realized, oh, this is actual ownership in this company. So
okay, I'm gonna Can you guys see the screen now? Awesome. Bruce?
Yeah, we're good. Let's go.
Cool. So I'll kind of fast forward. We, we already talked
about some of these. And so, so I do want to share about, I do
want to share my screen, maybe a few slides from now and kind of
show you guys what the dashboard looks like when you are claiming
an airdrop. So I think I'll do that at this stage. I believe
it's a few slides from now. And then I'll kind of walk you guys
through that's actually going to the one I'll share Bruce is
going to be my most recent airdrop. So, but the I think a
question that a lot of people ask Beau and I is why do
companies do this? Why do they, you know, my, I spent a lot of
money at other coffee companies or clothing brands or shoot
Apple, I've spent so much money at Apple, why aren't those
companies rewarding me? And these companies are giving me
ownership just for participating in their software.
And sometimes that's spending money. We're investing in their
in, in some of their opportunities, again, in low
risk ways. And sometimes it's just interacting with other
community members. And all that is easily tracked on web three
because of the blockchain nature of web three. And the short
answer is, it's a very complex question. It's not cut and dry
because not all web three companies do it. But the short
answer is ethos. And Beau kind of mentioned Beau's incredibly
knowledgeable on the infrastructure side of web three,
and the actual blockchain hardware and software layer of
the that holds up this new kind of version of the internet. But
this, the blockchain itself was built by brilliant developers
all across the world software engineers who shared a common
ethos. And their ethos was that users and customers have
companies which are really responsible for the success of
businesses. We're not being maybe we're not being valued in
in, you know, one of the you can argue about pros and cons of
capitalism, one of the these developers said, you know, we
want to we want to even go further and rewarding the users
of our of our software and the community of those users. And so
this ethos was created at the same time that the largest
composable blockchain Ethereum was created. It's just an ethos
that's really ingrained in the builders of the community. The
builders of these companies, they believe that it begets
loyalty, and even a greater adoption and yet and involvement
in these products and and communities. And so so yeah,
it's it's a value that that web three companies have. And again,
not all web three companies have this value. There's there are
small segments that do take VC funding when they're getting
started, and they end up going public, like we saw with
companies like Coinbase, or, you know, they end up going a
different route, like OpenSea, the big NFT protocol, but the
vast majority of web three companies share this ethos. And
it's really, it's really special. It's unlike any other
industry I've ever seen in that regard. And so I just wanted to
highlight a few ways that that you as or us as kind of
consumers and opportunists and, you know, we we can, we can be
active, and we can be loyal in different ways to these
companies. And so I just want to highlight a few of those. The
first one is early adoption. The the early adopters and in these
web three software companies, the early users get rewarded the
most. And so, you know, a lot of the a lot of what Bo and I do is
spend time researching. Because there are, Bo, I don't know the
rate of new companies that are launching, choose software
companies that are choosing to launch on the blockchain instead of on web two,
but it's the, the rate is,
it feels like it's just continually increasing.
Yeah. I have a,
there's a quick data point on that that may help to infer it.
But in 2021 the number of transactions across the
Ethereum network,
which is just one blockchain network or four and a half times that of
Visa.
So there were four and a half times more transactions on Ethereum than there
were on the entire Visa network, which,
which can give you some clue as to how many, you know,
applications are being built with blockchain technology.
Yeah, that's amazing. And it's only it's only increasing.
So early adoption is one way to be active and loyal in these web three
companies. And, and this is, this is in the context of already,
we've already this is strategy actually. So it's,
it's you know, there's there,
this will be something that is kind of a
wrapper for everything that we continue to unpack.
But this is already getting into strategy, early adoption sharing the company
with friends and families there. Again,
this is a public digital ledger and everything.
When these companies choose to airdrop to their user base,
they're running code to see which users were,
were doing the activity that they've, that they deem loyal and
and worth giving ownership to. So they can track when they
have, when they have, because you're logging in with, you know,
your single sign on with your MetaMask wallet,
they can track when you're sharing their,
their URLs, their share links, their Discord servers,
and they, they run all of that and factor that into the airdrop
as well as just kind of general activity in their,
in their community as well, commenting you know,
engaging with other users and with the company as well,
and then actions on the software. And that's what we're going to get into.
Kind of more specifically here in a second, but every company,
these are businesses and each one have has a different product or service.
So there's different ways that you can engage,
but actions and the number of actions is important to consider when
trying to get in position for an airdrop. So let's keep,
keep the ball rolling on this one. So I'll just kind of zoom through this one.
Our main goal for tonight to share with you guys is how to get in position
for your first airdrop and kind of give you an overview of how the whole
system works and run through in detail,
but kind of at a high level of, Hey,
these are the steps you should be prepared to take.
If you want to get in position for an airdrop,
your first airdrop or multiple airdrops, you know,
long-term goal is once you realize,
once you learn how to do this and you realize the amount of time that it takes
to get in position for these compared with the upside,
most people want
because the upside is really great.
And we're going to talk about that as well here a bit. So the five,
the six steps that we can outlined on, Hey,
these are the six steps to get in position to receive an airdrop
are set up. So you obviously have to set up your,
the apps and the specific exchange accounts.
So that, that was probably the most time consuming part of,
of getting prepared because some of these,
some of these apps are us-based like essentially crypto banks and they
will KYC you, they will verify your identity on the,
on the front end. So
for instance, Gemini or Metamask, two of the exchange accounts, you,
you, you have to be a U S you know, citizen and identify,
identify yourself for, for some of it.
So there be prepared for a little bit more time consuming on the,
on the setup and then securing your private keys.
We're going to go through that and explain the importance of doing that and
what private keys are. Number three, fund your, your wallet,
your Metamask wallet and walk through how to do that as well as depositing.
And this can be, this can really be, this is totally up to you. And,
and I have testimonies of myself and other people in our community who have
deposited very,
very little funds and, and exceeved excessive rewards and
airdrop. And then sometimes you, you know,
you deposit more and you still receive.
but airdrops, but that is totally at your discretion,
how much you feel comfortable depositing
into these software companies.
And obviously the action will,
and we're not going to get to in detail,
but comfortability and, you know,
kind of analyzing the action that's required
is something that you can do on a very personal level.
And we can, in the future, we'll, you know,
there'll be a community where we can all talk about this
and hash it out together.
But number five is wait, which is my favorite part,
because it's always a very fun day
when you open your computer and you're in a meeting
or you're at a coffee shop or you're working
and you have an airdrop.
And then that would trigger you to claim your airdrop.
And so I'll wait and show my most recent airdrop screen
once we get to claim.
So before I jump into setup, do you guys,
do we want to see if there's any questions
or just keep blazing forward?
Yeah, I think that's good.
I think we've got a couple of questions coming in.
I don't know if you, Roberto,
want to take that question from Kayla,
just around difference between types of tokens and NFTs.
I know that's kind of a different topic.
So let me let you keep going.
We'll circle back on questions in a minute at the end.
Yeah, cool.
So I can cover token types
when I get to that claim screen as well.
And then Coinbase, is Coinbase financially sound?
Coinbase is FDIC insured.
So for all intensive purposes, Coinbase is a bank.
I can't speak to bearable bull and any insolvency issues.
I don't know what loans Coinbase is making,
but I can say that just as a total side note,
but if you look at all of the centralized institutions
that have become insolvent over this last bear market,
none of them were DeFi, to my knowledge,
were DeFi protocols,
which is the ones that we're going to be interacting with.
And the difference there,
one of the simple differences there,
and Bo, you can speak more to this if you'd like to,
but one of the things where we can just keep going
is custody, self-custodying the assets
versus depositing your assets into a centralized exchange
that turns around and lends them to make a yield.
Fundamental difference there.
And we're actually, the primary purpose for us
when we use Coinbase is to move funds
from our bank account into our MetaMask wallet,
which is a decentralized wallet
where you maintain custody of your assets,
which is a really big deal.
And then, yeah, Michaela, I'll get to that one
once I get to the claim part.
Bo, do you want to say anything on that
before I get to set up?
Yeah, I think just a real quick phrase
that's easy to remember,
in case you guys haven't heard it before,
is not your keys, not your crypto.
And to Brett's point,
there is, for your wallets that you'll be setting up,
there is a private key that you will keep
off your computer, offline, printed,
in a safety deposit box or somewhere safe in your house
that gives you access to your wallet anywhere in the world.
But if you're on Coinbase, you don't have that set of keys.
Coinbase custodies that.
So ultimately, they actually have the final control
of those assets on the blockchain itself,
which is why it is concerning if you hear things
like what the Bearable Bull,
sounds like he said on his YouTube channel.
But again, to Brett's point,
they're FDIC insured,
no idea about the insolvency there.
But I do know that it's not,
they are not your keys
when you keep your crypto on Coinbase.
They retain custody of those wallets.
And that's why it's very important
to get your assets into a wallet
where you actually know what the key is
and you can employ it at your discretion.
Yeah, and we'll jump into that.
I'll speak to that too, right here in step number two.
So step number one, set up what you need to begin.
So you do need an exchange, a centralized exchange
as you're moving funds from your bank account
to your MetaMask wallet.
And the MetaMask wallet is where you do self-custody
those private keys.
And we're gonna get into that in a couple of slides.
But yeah, here are the steps, A, B, C, D, and E.
So you'll set up your account, A,
you will link your bank account.
Again, Coinbase and Gemini are FDIC insured banks
and they are regulated by the SEC.
So that they, you will have to identify.
yourself there, you connect your bank account, then you go over, you create your MetaMask
wallet on your phone, or it's a desktop extension on the Brave browser or the Chrome browser.
And so you'll create your MetaMask wallet, then you'll link your MetaMask wallet address
that it gives you, gives you a public address, and that you'll link that to your exchange
account.
And then before, this is a personal recommendation that Bo and I make, and I have friends where
I will not send them an NFT, I will not send them anything until they secure their private
keys.
And so that is a really big deal.
And so we're going to talk about that briefly, but cannot overstate the importance of this.
So private keys, what are they?
They're a series of 12 random words that are given to you by your wallet provider,
your decentralized wallet provider, in this case, MetaMask.
Coinbase actually does have a decentralized wallet called the Coinbase Wallet.
It's a totally separate app.
But MetaMask is kind of the oldest and most battle tested.
So we really like MetaMask.
They give you 12 private keys when you set up your wallet.
Our recommendation is do not store those digitally in the sense of storing them on your notes
app, storing them in, you know, somewhere on your computer.
We recommend storing them offline.
So it's called cold storage.
And again, this is very important for your longevity and success in Web3.
And those private keys become the backup source.
Those prove that you own the wallet and they become a backup source in the event you lose
access to your wallet, you lose your computer, you lose your cell phone.
Bruce, I didn't tell you this.
You know, I've told you my my test, my positive testimonies.
Part of those 1000 hours actually didn't understand private keys early on.
And I lost private keys to a to a wallet that I had my very first wallet.
That was a DeFi wallet.
And I had a decent number of assets in that wallet.
And I can just watch it.
I can watch it go up and down sometimes as well.
But I can never access those again.
So now I take private key backup very seriously.
Everybody laughs at me, but but I hammered my private keys into titanium plates
and I have multiple backups of them.
I have a paper backup that my wife keeps.
And so this if you know, once you see some of the opportunity for upside and airdrops,
you might also want to take your private keys storage seriously.
But this is a big deal.
Guys, secure your private keys.
Brett, can I add one thing to that?
This is a this is a key distinction between Web 2 and Web 3 is the private keys in Web 2,
where if you lose your login credentials or your banking credentials or whatever else it is,
you have recourse, you have entire security mechanisms and backups and ways to verify your identity
that you don't have with this with the Web 3 ecosystem.
So it is the greatest advantage because it gives you the opportunity to stay anonymous and interact with this ecosystem.
But you are your own security and there is zero recourse if you lose those keys or if somebody is able to lift them from you successfully.
So. Yeah, good point, Bo.
All right, so back to these are some resources, Bruce, we can share this with everybody after.
But this is the one of these is the company that I use actually have a we're not going to get into hardware wallets,
but the metal plates is a great option if you want a fireproof, waterproof backup source for your private keys.
So we can share Bruce. I think we can share links if we want to do that now or later.
But those are great options. And like these two metal plates, you can buy these a lot of these for like 40 bucks.
And it takes 20 minutes to hammer your little your little words in.
But you will not regret it. All right.
Step three is fund your wallet. So we mentioned connecting your bank account,
sending money to your Gemini or Coinbase account.
There are other centralized exchanges. These are the two largest ones in the U.S. and they're FDIC insured.
Step three is convert your U.S. dollars to the easiest way to do it.
For most of the airdrops that we participate in is just going ahead and converting it to the base layer asset of the largest blockchain, which is Ethereum.
And so their their governance, their base layer money is called ETH.
So.
Converting your U.S. dollars to ETH kind of in the trade section of the exchange account.
The last step would be to send those funds to your MetaMask wallet because we've at this point,
you've already connected your MetaMask wallet.
Now you're sending them to your MetaMask wallet.
That takes most of the time that what, Bo, like 10 seconds for that transaction to process.
And then, boom, your ETH will show up in your MetaMask wallet.
And now you're ready to go get in position for an airdrop.
So number four, airdrop eligibility.
And so this is, man, we're not going to have time to get into it today.
All of the different like really fun ways that this can happen.
This is some of these can be like a little monotonous, but some of them can be really fun.
And so we're just kind of going to zoom by them.
But I wish I had more time to dive into each one of these and to walk us through what this actually looks like today.
I will in the claim process, but I'm just going to, for the sake of time, kind of do a high level run through.
So number one, you select the software company that has not yet airdropped a token.
So that's kind of the first like indicator of, hey, what companies should we choose?
And we spend a lot of time researching on our side, but we also love to share that research in our community.
But so let's just say there's a kind of a like really rising software company in Web3.
Maybe that is, you know, the bank, the one that I mentioned earlier at the my very first one was just a an educational community.
And so they had built up a really amazing product and they do podcasts.
And so that one was purely an educational and community component that did the first airdrop.
The most recent one I'm going to talk about here in a minute is a was a another layer blockchain.
So it was a really exciting one.
I had been waiting for that one for a while.
But these companies can look different.
Some of them are one that I participated in was a genetics company in the UK.
Another one that I received an airdrop for was a music company that created NFTs that allowed you to own owner streaming revenue in songs.
And that's a really fun one.
And so these are all types of companies that are, you know, from every industry.
And it's really fun because of the growth of these companies and how so many more companies are building on Web3, the opportunities to get in position for airdrops are increasing.
So in others, you know, it can look like depositing assets into a pool that bears interest.
And so while you're waiting for the airdrop, your assets can also be bearing interest.
So, again, it can look like a lot of different things.
It's unique to each company.
And then once you've decided what you're going to do, you go in and select the specific action and you have to pay a small transaction fee.
I think with the prices right now, that could be anywhere from $5 to $10, depending on how much value you have moved over.
It could be a little bit higher, up to $25, but normally it's around $5 to $15.
And that's when the MetaMask, you sign into these with your MetaMask wallet.
And so it engages your MetaMask wallet and then you click sign and you have officially at that point done the first step to get in position for an airdrop.
So, again, all of these transactions are happening on the blockchain.
And so when these companies go to airdrop, they see your wallet address.
And so they don't necessarily know, oh, this is Bo, but they see Bo's wallet address, which is public.
And that's what they use to identify who needs to get rewarded.
So let's keep going.
Talked about waiting. Waiting is a great opportunity to keep learning and researching and connecting with people who are researching and sharing what you find and helping others get in position for airdrops.
And the whole Web3 community is very, it's much like the real estate community, in my experience, Bo, the investment community.
We want to see other people benefit and we want to see other.
people grow. And so, you can also learn fun Web3 lingo, like,
wag me, we're going to make it. Haha, going to keep going now.
It's a dad joke, sort of. All right, step six is claim. So
this is the last step in the airdrop process. This is the
best part, you get to claim your reward. And within minutes, you
get to see what it's worth in US dollar value. And so this is
the point where, Bruce, where I want to share my most recent
airdrop, which happened, though, I think it was last month, but
you can correct me if I'm wrong. So, yep, before I pop over, so
this is the prompt claim tokens that you'll see, when it's time
for you to claim your airdrop. Sometimes, you know, depending
on when you decide to try to get in position for the airdrop, it
can be weeks, it can be months. I don't know if I have been
waiting for any for longer than a year. But sometimes it can be
months. So it's why it's it's can be beneficial to try to get
in position for as many as possible. Oftentimes, you can
use the same funds that you pulled over to get in position
for several. And we're not going to dive into that today. But
that's a, that's a little double dipping action strategy that we
can employ, deploy, utilize. So another small transaction fee
associated with claiming your reward, and the transaction fees
can vary based on demand on the for block space, but another
small fee, then once you claim it, boom, they drop into your
wallet, your MetaMask wallet. And once they're in your MetaMask
wallet, they are your assets. And because you hold the private
keys, they are secured in your wallet, and they now belong to
you. And the next what you do with them next is entirely up to
you, we are going to talk about what you can do with them. But
before we do that, I'm going to share my screen on the on the
most recent airdrop that I had, which is
there you go. You had it there was the optimism one, right?
Yes, it's optimism. Did I did I had I pulled it up? One second.
It was the tab next to the slides there.
Okay, gotcha.
Just while Brett's pulling that up, I'll mention to most
airdrops do happen as a result of you taking some action with
the software. Every now and then you'll have an airdrop just for
owning a token. There's there have been airdrops for certain
token holders. Because let's just say a certain blockchain
has a capability associated with it. And then another group of
developers come along and they want to create a parallel or
value add to that blockchain. So they'll create that blockchain.
And then in order to spur adoption, they'll airdrop the
tokens that you can use with the initial blockchains tokens. So
those are other ways. Anyway, many, many different ways. But
Brett's going to go through a great example here.
Can you guys see the optimism screen?
Well, yeah, we got it. Sweet. Yeah.
Oh, yeah, we're good.
All right, great. So this is the this is the most recent airdrop
that I received. And this is a good example, because it's not
the smallest airdrop I've received. It's also not the
largest airdrop I've received. It's kind of more, I would say
this is average. And so this is what the screen looks like when
it's time to claim your airdrop. So you guys can see at the top
right corner of my screen is my wallet address. And that is how
the this company knows that it's, you know what to reward
me with. And that's that wallet, that Metamask wallet address is
how you log into every single company, software web three
company across the entire internet. So that's great. It
makes it super easy to log in and log out, you don't have to
remember a bunch of passwords. So I have actually already
claimed this airdrop for 7331 OP or optimism tokens. I mentioned
optimism as a layer two blockchain, this token, they're
planning on in the future that it will actually have revenue
associated with it. So I'm really excited about this one.
I chose to keep this one and not sell it.
And before I kind of run through these eligibility criteria,
which I alluded to a couple of times,
Bo, we were talking earlier this morning, and I was telling you about this airdrop.
And at the time of the airdrop, the U.S. dollar value of these tokens was over $13,000.
And at that time, when I took possession, when I took custody of these,
I could have sold them immediately and put them back into U.S. dollars
and move them back into my bank account.
Now, I didn't want to do that, partly because a lot of my drive in this
is education and involvement in these companies.
I actually really enjoy the involvement, and I chose to hold on to these.
But I could have sold these.
So today, Bo, we looked earlier today, and I think the value was about $5,600
because we've seen a huge bear market this year, one of the historic bear markets.
So that $13,500 value when these were given to me has come down,
but I could still sell these today for about $5,500.
And you can look up the value on websites like CoinGecko.
If you do want to know or if you want to choose to sell them.
But I received this airdrop because I used this blockchain.
I bridged funds over from Ethereum using MetaMask to this blockchain.
I did a few different actions on their company's software,
which happens to be an entire layer blockchain.
They gave me another bonus because I'm part of a DAO,
which is and I voted in DAO proposals, which is very, very easy to do.
And they also deemed that I participated in their protocol
at a time when Ethereum was really highly valued and the transaction fees were high.
So they gave me an extra bonus there and another bonus for hitting multiple categories.
So that's how they got to their number of 7,300 optimism tokens.
So I claimed these tokens. They're in my wallet now.
I mentioned to you guys, I have a wallet specifically for airdrops and it's brethenry.eth.
So you can go see these in my wallet.
And yeah, this is what this is kind of what the screen looks like.
It's not, you know, nothing for it.
And this is the internet and everybody knows how to use this.
Go ahead, Bruce.
Yeah, I just had a quick question there.
So if you could give us like just the bullet points there,
what did it take to generate $5,600 or so?
What kind of went into it to start as far as investment of time
and then also money to get to there?
Yeah, so $5,600 is the present value.
I bridged about $500 over onto their blockchain.
And I actually deposited those funds, Bruce, into a liquidity pool
on a kind of like a decentralized exchange called Uniswap.
It's one of the biggest, one of the most valuable
and most widely used companies on the blockchain for swapping in and out of assets.
So it allows you to swap from like,
I could go on to Uniswap right now and swap from these tokens into a stable coin
that's pegged to the US dollar if I wanted to kind of sell in that way.
And so I decided to deposit some of those that I think I took $500,
divided it into two different assets, deposited into a pool.
And so I actually have since left that in the pool
because it's generating about a 26% return on those assets.
So for me, that was kind of like,
hey, this is actually a good little investment opportunity
and I'm getting in position for an airdrop.
And so in that case, I deposited the assets into a liquidity pool on Uniswap,
which was deployed on Optimism.
That sounds really like kind of complex,
but it's actually the total amount of time that it took me to do all that
was less than 15 minutes.
So I think it took you longer to explain it than to do it.
Yeah, that's why it's so much better if I can just say,
all right, Bruce, watch this and I can walk you through it.
And then you're like, that's it. It's so easy.
That's awesome.
But yeah, you're right.
Building the mental framework is the hardest part for all this,
but the actions are not hard.
So yeah, so there's the Optimism airdrop.
I'm going to kick back over to the slideshow.
Let's wrap this up.
OK.
And while you're doing that, maybe just can drop one question.
I know people probably wondering, like, OK, that's awesome.
So like how how did you find this?
Like, how did you, I guess, position yourself to find this?
Yeah, so I spend time, I spend a little bit of time every week kind of combing through
different crypto communities to see what what every what new software is.
Everybody's kind of talking about.
And then I'll go see if that if those software companies have tokens or not.
And if they don't have a token, then I'll just pop into their software real quick, you
know, move around, move funds.
And because a lot of times you don't have to leave them deposited, you can pull them
back out to still be eligible.
So I'll just pop in, you know, make a few quick transactions, pop back out.
And it's kind of become second nature.
But there are communities out there and finding good ones can be hard.
But there are communities that are talking about all of this stuff.
And so if you know kind of what to look for, Bruce, like, OK, this company, they have they
have the really good Web3 values and they don't have a token yet.
There's a good chance that they're going to airdrop a token.
That's awesome. Very cool.
Yeah. I am a screen sharing novice, but here we go.
All right, you guys can see that.
Yep. All right, so last thing that I believe that I want to go through is the just
kind of the then what after you claim your airdrop, you know, at this point, Bruce, I
think I get about one airdrop a month, sometimes more, but then you have a decision to
make. Are you going to sell your asset or are you going to keep it?
And it's really up to the end user.
So it's up to each one of us individually.
A lot of people choose to sell it out, convert it back to U.S.
dollars and use those U.S.
dollars in the real world, pay your mortgage, buy a car, do something along those
lines. The other option is to keep it and then further invest it in Web3, whether that
means getting in position for more airdrops or investing in trying to earn a yield on
your assets. So again, you can always hold on and hope that the value goes up like I
did with the Optimism airdrop, even though it went down initially.
I think that it's going to be a really great product that a ton of people are going to
use. They're going to even be using it and they don't even know they're using it.
And so for that reason, I'm a long term hold on that one.
But yeah, it's really cool.
You can go either route and a lot of these can be life changing if you can get some of
the some of these and pay off student debt, do things like that in the real world.
The opportunities here are really great.
And so, yeah, some of these are substantial.
I don't know if you guys want me to mention like on the low end and the high end, but
this is this is a real opportunity that everybody who wants to take advantage of can
take advantage of it.
And for the amount of time that it takes to do so and the little bit of education that
you need to do, we definitely encourage you to to strongly consider getting in position
for airdrops.
I'll just add something to that, Brett.
You know, this.
I've heard this comparison many different ways.
I guess the the average is, you know, Web three is today where I don't know the
Internet was in the mid to late 90s.
And so, you know, if you think about the rate of adoption right now and how things are
going to eventually evolve into this ecosystem, there's just a tremendous amount of
growth left to happen.
And with that growth comes a lot of opportunity.
One of the thing to note, just, you know, for you quants out there that like to crunch
the numbers and think through it in that in that regard, that these are not efficient
markets, meaning that they're they're incredibly efficient in terms of peer to peer.
But in terms of the information that is shared publicly, it's out there, but it can be
really, really hard to find.
So that's.
where you have an opportunity to extract
or to realize some of the value
is just learning about these things earlier
before others adopt them or before others catch on,
before there's enterprise adoption
for a lot of these applications that are being built.
You have an opportunity now to start learning
about the space and the ecosystem
and just improve your awareness of it through education.
So, yeah.
Totally, Beau.
Real quick, we have a question from Brennan.
Are there any DeFi apps in the works
to safely store your keys?
I keep mine as safe,
but I do have concern over random accidents like a fire.
Actually, yes, there are companies
that are kind of trying to create apps,
DeFi wallets that consider those things
for the average user
and not everybody wants to store something
like they would store gold, physical gold,
but check out Argent.
So Argent is an awesome product.
They have not airdropped yet.
And they're a mobile app and a web app.
They use a social,
this is interesting
because it takes a different due diligence,
but they use a social backup system.
So you get tons of, I think I have five on mine,
but five friends who also have Argent wallets
and they become your guardian.
So if you lose access to your wallet,
then it takes like,
I think you can set like two or three guardians
or the threshold that it takes to back it up,
but you can back up your wallet with your social community.
So there's different risks associated with that,
but you don't have to hold your private keys.
So yeah, that's called Argent
and they have not airdropped yet.
And they're actually deployed on a main net Ethereum
and a layer two blockchain called ZK sync
that also hasn't airdropped yet.
So those happen to both be airdrop opportunities,
but yeah, check out Argent.
And I stopped sharing my screen.
Bruce, did you wanna pick up where I left off?
Yeah, that sounds great.
So guys, hopefully this has been kind of helpful
to give context.
I mean, I think what's crazy,
I didn't mean to make fun of Brett there,
but there's just so much to this
that these guys have spent so much time
researching this stuff to then share it
in kind of a condensed, it's super hard.
Like I think we could probably do this every night
for a few weeks, right?
And just to like get through all the information.
So I really appreciate, Brett, that was awesome.
Just kind of giving us a high level overview,
giving us some of the background
and showing us what's possible with that.
But yeah, but before I jump in,
does anything else you wanted to add to that
to kind of wrap that up?
Yeah, well, just very quickly, Michaela,
I wanted to make sure we got to your question.
It's kind of a loaded question,
the difference between types of tokens and NFTs
and potentially some blockchain basics.
Yes, we can go into that more probably in another session,
but I think holistically,
what Brett's saying in terms of the ethos
and why this is taking place,
blockchain is decentralized networks, number one,
decentralized decision-making, number two.
And for many companies, it's decentralized value, right?
They distribute the value.
And so in terms of token types,
there's a lot of different technical ways
that we can answer that.
But I think the heart of it is it's a mechanism
through which you can interact with their software
as opposed to logins or everything like that.
With Web2, you can have, the token is there.
It gives you certain capabilities with the software
and it's intended to help you adopt
what it is they're building.
So I hope that helps.
Yeah.
We could spend an hour on that question.
Yeah.
It's a really good question because it's fundamental.
Yeah, it's fundamental to understanding all of this.
Yeah, so we could spend an hour, we probably should,
because there's some really, really amazing applications
for tokens and NFTs.
There are different types of tokens on the blockchain
and they have different properties.
And each individual company has a choice to issue these.
Individuals now can issue these.
And so, and they're composable and recognized across the entire blockchain, but what's possible and the strategies that are used are unique to each to each company.
But we should totally spend another session breaking all that down because and using specific examples of like, you know, because we there are like the optimism token that I got airdropped is a governance token and actually owns voting rights.
Voting rights and owns part of the treasury of that company.
They chose to issue that optimism token as a certain token type ERC 20.
They could have issued that as an NFT. I have, I have an NFT that is a governance token.
So optimism could have said, Hey, we're going to issue a different token type. Let's, let's issue an NFT instead. And it's, it's just, it was their choice to utilize the ERC 20 token type.
And that's on this specific blockchain. I'm not going to go into any more because we could spend so much so much time diving into that bow but it's a really good question.
Awesome. And so there's one other question about, I don't know if you guys want to address that in the chat there.
Oh yeah, Bo you take that one.
Yes, I mean there are different ways there are tokens associated with gold. Now, like you can you can invest in web three tokens that are physically backed by gold, it is possible.
There, again, how tightly those web three organizations are regulated.
There are some that are more regulated than others, some that are, you know, based in the US some that aren't, but it is possible that you know as a, as a short answer, you know, in terms of ETFs.
I think you mentioned REITs I know ETFs are possible you can buy Bitcoin ETFs now through I think there's four organizations that have been approved by the SEC to buy Bitcoin ETFs.
But it's definitely there, there is quite an effort at the institutional level to wrap web three technology and tokenomics into traditional finance and traditional finance mechanisms.
And so I think we'll see a lot more of that in the next three to five years.
Yeah, and there are also, I just very briefly touch on it, I believe that the, the Loomis bill that's that they're circulating in DC that brings regulation to crypto actually positions, a lot of these assets more as commodities instead of as securities.
So that's a whole interesting topic.
If you're, if you're interested in that and then I'm not I'm not.
I know that there are DAOs that hold real estate and you can acquire the DAOs governance token. I actually own real estate in the form of an NFT in a real estate investing DAO.
It's called CitiDAO.
There are some creative ways to acquire real world assets.
Yeah, but yeah.
Awesome.
That's great. Well, thanks, thanks guys for taking that, that time I know guys Bo and Brett are, they're hanging out here kind of on a free workshop but this is something that you guys do, you guys are consulting with people you're working with businesses to help them integrate
So I don't want you guys to miss, miss take that we're, they're sharing a lot of stuff here just for free but there's this is some valuable info or kind of helping give us a shortcut to, you know, what's to get started on this kind of create an on ramp for us to get there a lot faster.
And so this is our first training like this so hopefully you guys enjoyed it if you want to drop in the comments if it was helpful.
You know, we'll probably try to do a couple more of these in the future so if you're on our email list. That's great. You will just kind of let you know.
And so, yeah, and and one thing that you know we're looking to do is, I've been, this has been super helpful for me just kind of learning from these guys. And, you know, while there's not any kind of formal program or anything for that yet.
We've just been talking even in the last week about how to set up some type of membership that we could be a part of to, to kind of learn from Brett and Bo and kind of have access to their knowledge that they have spent this thousand hours plus you know on on on how to leverage the web three space, and not just know that but how, like, which things
things to avoid, what things to pay attention to, stuff, you
know, that's kind of what what an expert does. When you work
with someone who's been doing this for a while, they know
exactly what to focus on. So, you know, Brett was able to, you
know, basically 10x his money from 500 to 5600 in 15 minutes,
but it took 1000 hours, right, to know what to do to leverage
that, you know, to use 15 minutes to get that result. So
one thing Bo and Brett are wanting to do is just open up a
membership, if you guys are interested, a kind of a monthly
membership, where they're going to share a couple things, and
I'll kind of walk you guys through what that what that
could look like. They're going to have, we're gonna set up
like a private discord deal feed. So as new deals or new
airdrops are coming available, they're going to drop those in
a private discord and kind of give you guys the heads up of
what to pay attention to. So what they are wanting to do is
basically distill everything down from from what they're
researching what they're seeing, and just share it with the
private community here. And so we're also going to do a few
more of these zoom calls. So we'll include a free monthly
pass to that. So this one was free was our first one, we just
wanted to try it out. And these will be paid calls moving
forward. So you'll get a free access to that. And then these
guys have put together a bunch of training resources. So like
how to set up a wallet, how to, you know, do a lot of these
things, all the kind of the the technical tactics of how to
position yourself to get the stuff set up. They put that all
into a kind of a membership site. You can quickly kind of go
through that and look for resources. And rather than
sifting through like a lot of this stuff is on the internet,
you can go Google this, you can go on YouTube. But a lot of it
is just knowing what to look at. And there's just so much
information out there. And it's not all good information, right.
So what this does is it lets you get a trusted resource of
content that from these guys, rather than having to go out and
find all this on your own and kind of it'll help you shortcut
you a few years into the process, right? I like to think
of it that you're going to essentially, it's going to give
you a 1000 hour head start right on on this this web three
space. So we have this membership available if you guys
are interested. It's going to be 495 a month. It's going to
include all the things that we're talking about the private
discord channel, the free pass, you can you can do it month to
month and check it out. We'll have a link here in a second
where you can check check it out. Just to get started, since
you guys are kind of in our pilot group here, we're gonna
make a special deal available. If you guys want to go ahead and
get three months of this, we can actually give that to you for
995. So it's kind of like a buy two months, get one free. And
it's everything we're talking about here and kind of getting
access to these guys, kind of between calls, and then also
just kind of seeing the deal feed, which is gonna be super
valuable. You know, this is this is valuable information. And I
think this is kind of a steal at this price. These guys charge a
lot more per hour than than what this pricing reflects. But this
is something you know, I've talked to Bo and Brett at length
over the last couple weeks, as we were prepared for this, and
they are super, super passionate about getting people to adopt
web three, getting people into this space, getting them caught
up into the into what's going on and how to leverage there's so
much opportunity out there. And so I, you know, I've known Bo
for over, I don't know, 10 years now, met Brett a couple weeks,
months ago. So it's been, it's been awesome to hang out with
them and just learn this. So I will be joining this and signing
up myself, because I feel like it's incredibly valuable. And
I'm also looking at as I only have to get one or really one
semi good, you know, airdrop like this and kind of cover the
cost, right. So that's kind of how I'm thinking about it. But
any closing thoughts for Bo or Brett? Anything you guys want to
add?
Yeah, thanks, everybody for jumping on. As Bruce mentioned,
we love to teach this stuff. We geek out over it often with each
other. And as I mentioned in the beginning, we just would love
for you guys to join that conversation. So thanks for
coming.
Yep. Likewise. And I, I too have known Bo for about 10 years.
Yeah. And it's been fun. Bo getting on jumping on this
journey with you about the same time. It's been really, really
fun. And, you know, a little mind boggling at times and
giving us some gray hairs, but we're early in this. And so it's
been really, really fun. And we love getting to share with you.
And we, you know, we'd love to continue to get to do that.
Awesome.
Awesome, awesome guys well I know we can keep to our time here guys also on that link I dropped it in the chat if you guys want to check it out also email it to you and there is a link in there as well if you guys have any questions about this or you know about the program there's an option in that page to book a call and just chat with me or one of one of the guys here just to see what you know if you have any questions and you can also just email us back at any of the emails you've gotten from us so far just reply with your question that comes straight to us and we'll and we'll check it out so.
Thanks for joining us guys it's been awesome and we'll see you on the next training cheers guys have a great night.