NFT Memberships & Subscriptions
Podcast #9 - A discussion with Patrick Workman from Unlock Protocol
Welcome back to Brand N3xt, and thank you for all the new subscribers who have recently joined. Brand N3xt is a semi-regular newsletter and podcast with a three-part mission:
Educate people and brands about the potential for Web3 to deliver positive change.
Highlight the use cases that are likely to drive scale and adoption.
Spotlight the innovators who are leading and building in the space.
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“The technology isn’t the challenge, it’s the imagination that we need to inspire in order to think about why we are actually doing this, what’s the purpose and who [we’re doing it for]”
-Patrick Workman
There are builders in the world, and then there is Patrick Workman and the team behind Unlock Protocol. What makes talking to Patrick special is that has such a clear understanding of the technology that he is able to explain concepts about web3 and blockchain in very simple easy to understand ways. Talking to him was really refreshing because even though he understands the tech, the focus isn’t on how we onboard millions / billions of people into crypto, but rather on how we unlock value for people through experiences that are intuitive and add value for the end user - most likely by getting rid of all the talk about wallets, keys and other crypto babble and just making a brands app the wallet so people feel at ease in what they are trying to do.
This is really a fun discussion where we go into the world of music, retail, customer experience, and so much more. One thing that’s clear from the conversation is that Patrick is building the technology needed to unlock opportunities and to unlock value, but to get there, as Patrick implies in the quote above, we all just need to unlock our imaginations.
SPECIFIC TOPICS WE DISCUSS:
Patrick is a builder who built his reputation and know how in the world of Web2 and comes to Web3 with a clear understanding of the challenges of the past, and the opportunities that the emerging web3 ecosystem provides. In our conversation he shares about:
His perspective on FTX, the and how he sees the difference between Crypto and Web3
How Unlock is giving NFTs super powers and additional functionality
The difference between a subscription today, and what added value a tokenized subscription will enable
How new business models for the internet will be created that migrate the economic models from attention to membership
Moving past intermediaries through open blockchains and how this will inspire new areas of creative innovation
How Unlock Protocol is taking people on a five stage membership journey, and how it relates to the memberships people have and value today (eg. Prime)
The value of Open Memberships - starts around the 26.30 mark and this part is really important and really insightful so don’t skip it
Experience vs. Tech and how they work together, and the types of experiments brands could take that are fit for purpose today
LINKS TO THE PODCAST:
You can listen to the Podcast by following one of the below links to the show on Spotify, Apple Podcasts, or YouTube. Or you can search for Brand N3xt on your favorite streaming platform.
LINKS TO UNLOCK AND OTHER SERVICES WE DISCUSS IN THE PODCAST:
Unlock Protocol: https://unlock-protocol.com/
Advent Calendar from Unlock Protocol: https://unlock-protocol.com/blog/advent-calendar-2022
Patrick’s Twitter: @PatrickWorkman
CREDITS:
Host: Justin Peyton
Guest: Patrick Workman
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This newsletter is for educational and entertainment purposes. It is not investment advice of any kind, and no discussion should be viewed as a recommendation to make any financial decisions related to assets of any kind.