Cryptoland rollercoaster

I've lost money in crypto.

Unimportant.

The real issue: I didn’t understand how.

I'm surrounded with winners. To learn more, I created my own NFTs, currency, and DAO.

Web3 is a hilltop castle. Everything is valuable, decentralized, and on-chain.

The castle is Disneyland: beautiful in images, but chaotic with lengthy lines and kids spending too much money on dressed-up animals.

When the throng and businesses are gone, Disneyland still has enchantment.

The Real Story of Web3

NFTs

Scarcity. Scarce NFTs. That's their worth.

Skull. Rare-looking!

Nonsense.

Bored Ape Yacht Club vs. my NFTs?

Marketing.

BAYC is amazing, but not for the reasons people believe. Apecoin and Otherside's art, celebrity following, and innovation? Stunning.

No other endeavor captured the zeitgeist better. Yet how long did you think it took to actually mint the NFTs?

1 hour? Maybe a week for the website?

Minting NFTs is incredibly easy. Kid-friendly. Developers are rare. Think about that next time somebody posts “DevS dO SMt!?”

NFTs will remain popular. These projects are like our Van Goghs and Monets. Still, be wary. It still uses exclusivity and wash selling like the OG art market.

Not all NFTs are art-related.

Soulbound and anonymous NFTs could offer up new use cases. Property rights, privacy-focused ID, open-source project verification. Everything.

NFTs build online trust through ownership.

We just need to evolve from the apes first.

NFTs' superpower is marketing until then.

Crypto currency

What the hell is a token?

99% of people are clueless.

So I invested in both coins and tokens. Same same. Only that they are not.

Coins have their own blockchain and developer/validator community. It's hard.

Creating a token on top of a blockchain? Five minutes.

Most consumers don’t understand the difference, creating an arbitrage opportunity: pretend you’re a serious project without having developers on your payroll.

Few market sites help. Take a look. See any tokens?

There's a hint one click deeper.

Some tokens are legitimate. Some coins are bad investments.

Tokens are utilized for DAO governance and DApp payments. Still, know who's behind a token. They might be 12 years old.

Coins take time and money. The recent LUNA meltdown indicates that currency investing requires research.

DAOs

Decentralized Autonomous Organizations (DAOs) don't work as you assume.

Yes, members can vote.

A productive organization requires more.

I've observed two types of DAOs.

• Total decentralization total dysfunction

• Centralized just partially. Community-driven.

A core team executes the DAO's strategy and roadmap in successful DAOs. The community owns part of the organization, votes on decisions, and holds the team accountable.

DAOs are public companies.

Amazing.

A shareholder meeting's logistics are staggering. DAOs may hold anonymous, secure voting quickly. No need for intermediaries like banks to chase up every shareholder.

Successful DAOs aren't totally decentralized. Large-scale voting and collaboration have never been easier.

And that’s all that matters.

Scale, speed.

My Web3 learnings

Disneyland is enchanting. Web3 too.

In a few cycles, NFTs may be used to build trust, not clout. Not speculating with coins. DAOs run organizations, not themselves.

Finally, some final thoughts:

• NFTs will be a very helpful tool for building trust online. NFTs are successful now because of excellent marketing.

• Tokens are not the same as coins. Look into any project before making a purchase. Make sure it isn't run by three 9-year-olds piled on top of one another in a trench coat, at the very least.

• Not entirely decentralized, DAOs. We shall see a future where community ownership becomes the rule rather than the exception once we acknowledge this fact.

Crypto Disneyland is a rollercoaster with loops that make you sick.

Always buckle up.

Have fun!

If you think NFTs are awful, check out the art market.

The fervor around NFTs has subsided in recent months due to the crypto market crash and the media's short attention span. They were all anyone could talk about earlier this spring. Last semester, when passions were high and field luminaries were discussing "slurp juices," I asked my students and students from over 20 other universities what they thought of NFTs.

According to many, NFTs were either tasteless pyramid schemes or a new way for artists to make money. NFTs contributed to the climate crisis and harmed the environment, but so did air travel, fast fashion, and smartphones. Some students complained that NFTs were cheap, tasteless, algorithmically generated schlock, but others asked how this was different from other art.

I'm not sure what I expected, but the intensity of students' reactions surprised me. They had strong, emotional opinions about a technology I'd always considered administrative. NFTs address ownership and accounting, like most crypto/blockchain projects.

Art markets can be irrational, arbitrary, and subject to the same scams and schemes as any market. And maybe a few shenanigans that are unique to the art world.

The Fairness Question

Fairness, a deflating moral currency, was the general sentiment (the less of it in circulation, the more ardently we clamor for it.) These students, almost all of whom are artists, complained to the mismatch between the quality of the work in some notable NFT collections and the excessive amounts these items were fetching on the market. They can sketch a Bored Ape or Lazy Lion in their sleep. Why should they buy ramen with school loans while certain swindlers get rich?

I understand students. Art markets are unjust. They can be irrational, arbitrary, and governed by chance and circumstance, like any market. And art-world shenanigans.

Almost every mainstream critique leveled against NFTs applies just as easily to art markets

Over 50% of artworks in circulation are fake, say experts. Sincere art collectors and institutions are upset by the prevalence of fake goods on the market. Not everyone. Wealthy people and companies use art as investments. They can use cultural institutions like museums and galleries to increase the value of inherited art collections. People sometimes buy artworks and use family ties or connections to museums or other cultural taste-makers to hype the work in their collection, driving up the price and allowing them to sell for a profit. Money launderers can disguise capital flows by using market whims, hype, and fluctuating asset prices.

Almost every mainstream critique leveled against NFTs applies just as easily to art markets.

Art has always been this way. Edward Kienholz's 1989 print series satirized art markets. He stamped 395 identical pieces of paper from $1 to $395. Each piece was initially priced as indicated. Kienholz was joking about a strange feature of art markets: once the last print in a series sells for $395, all previous works are worth at least that much. The entire series is valued at its highest auction price. I don't know what a Kienholz print sells for today (inquire with the gallery), but it's more than $395.

I love Lee Lozano's 1969 "Real Money Piece." Lozano put cash in various denominations in a jar in her apartment and gave it to visitors. She wrote, "Offer guests coffee, diet pepsi, bourbon, half-and-half, ice water, grass, and money." "Offer real money as candy."

Lee Lozano kept track of who she gave money to, how much they took, if any, and how they reacted to the offer of free money without explanation. Diverse reactions. Some found it funny, others found it strange, and others didn't care. Lozano rarely says:

Apr 17 Keith Sonnier refused, later screws lid very tightly back on. Apr 27 Kaltenbach takes all the money out of the jar when I offer it, examines all the money & puts it all back in jar. Says he doesn’t need money now. Apr 28 David Parson refused, laughing. May 1 Warren C. Ingersoll refused. He got very upset about my “attitude towards money.” May 4 Keith Sonnier refused, but said he would take money if he needed it which he might in the near future. May 7 Dick Anderson barely glances at the money when I stick it under his nose and says “Oh no thanks, I intend to earn it on my own.” May 8 Billy Bryant Copley didn’t take any but then it was sort of spoiled because I had told him about this piece on the phone & he had time to think about it he said.

Smart Contracts (smart as in fair, not smart as in Blockchain)

Cornell University's Cheryl Finley has done a lot of research on secondary art markets. I first learned about her research when I met her at the University of Florida's Harn Museum, where she spoke about smart contracts (smart as in fair, not smart as in Blockchain) and new protocols that could help artists who are often left out of the economic benefits of their own work, including women and women of color.

Her talk included findings from her ArtNet op-ed with Lauren van Haaften-Schick, Christian Reeder, and Amy Whitaker.

NFTs allow us to think about and hack on formal contractual relationships outside a system of laws that is currently not set up to service our community.

The ArtNet article The Recent Sale of Amy Sherald's ‘Welfare Queen' Symbolizes the Urgent Need for Resale Royalties and Economic Equity for Artists discussed Sherald's 2012 portrait of a regal woman in a purple dress wearing a sparkling crown and elegant set of pearls against a vibrant red background.

Amy Sherald sold "Welfare Queen" to Princeton professor Imani Perry. Sherald agreed to a payment plan to accommodate Perry's budget.

Amy Sherald rose to fame for her 2016 portrait of Michelle Obama and her full-length portrait of Breonna Taylor, one of the most famous works of the past decade.

As is common, Sherald's rising star drove up the price of her earlier works. Perry's "Welfare Queen" sold for $3.9 million in 2021.

Imani Perry's early investment paid off big-time. Amy Sherald, whose work directly increased the painting's value and who was on an artist's shoestring budget when she agreed to sell "Welfare Queen" in 2012, did not see any of the 2021 auction money. Perry and the auction house got that money.

Sherald sold her Breonna Taylor portrait to the Smithsonian and Louisville's Speed Art Museum to fund a $1 million scholarship. This is a great example of what an artist can do for the community if they can amass wealth through their work.

NFTs haven't solved all of the art market's problems — fakes, money laundering, market manipulation — but they didn't create them. Blockchain and NFTs are credited with making these issues more transparent. More ideas emerge daily about what a smart contract should do for artists.

NFTs are a copyright solution. They allow us to hack formal contractual relationships outside a law system that doesn't serve our community.

Amy Sherald shows the good smart contracts can do (as in, well-considered, self-determined contracts, not necessarily blockchain contracts.) Giving back to our community, deciding where and how our work can be sold or displayed, and ensuring artists share in the equity of our work and the economy our labor creates.

This could cost you.

Content creators may have heard about Google's "Helpful content upgrade."

This change is another Google effort to remove low-quality, repetitive, and AI-generated content.

Why should content creators care?

Because too much content manipulates search results.

My experience includes the following.

Website admins seek high-quality guest posts from me. They send me AI-generated text after I say "yes." My readers are irrelevant. Backlinks are needed.

Companies copy high-ranking content to boost their Google rankings. Unfortunately, it's common.

What does this content offer?

Nothing.

Despite Google's updates and efforts to clean search results, webmasters create manipulative content.

As a marketer, I knew about AI-powered content generation tools. However, I've never tried them.

I use old-fashioned content creation methods to grow my website from 0 to 3,000 monthly views in one year.

Last year, I launched a niche website.

I do keyword research, analyze search intent and competitors' content, write an article, proofread it, and then optimize it.

This strategy is time-consuming.

But it yields results!

Here's proof from Google Analytics:

Proven strategies yield promising results.

To validate my assumptions and find new strategies, I run many experiments.

I tested an AI-powered content generator.

I used a tool to write this Google-optimized article about SEO for startups.

I wanted to analyze AI-generated content's Google performance.

Here are the outcomes of my test.

First, quality.

I dislike "meh" content. I expect articles to answer my questions. If not, I've wasted my time.

My essays usually include research, personal anecdotes, and what I accomplished and achieved.

AI-generated articles aren't as good because they lack individuality.

Read my AI-generated article about startup SEO to see what I mean.

It's dry and shallow, IMO.

It seems robotic.

I'd use quotes and personal experience to show how SEO for startups is different.

My article paraphrases top-ranked articles on a certain topic.

It's readable but useless. Similar articles abound online. Why read it?

AI-generated content is low-quality.

Let me show you how this content ranks on Google.

The Google Search Console report shows impressions, clicks, and average position.

Low numbers.

No one opens the 5th Google search result page to read the article. Too far!

You may say the new article will improve.

Marketing-wise, I doubt it.

This article is shorter and less comprehensive than top-ranking pages. It's unlikely to win because of this.

AI-generated content's terrible reality.

I'll compare how this content I wrote for readers and SEO performs.

Both the AI and my article are fresh, but trends are emerging.

My article's CTR and average position are higher.

I spent a week researching and producing that piece, unlike AI-generated content. My expert perspective and unique consequences make it interesting to read.

Human-made.

In summary

No content generator can duplicate a human's tone, writing style, or creativity. Artificial content is always inferior.

Not "bad," but inferior.

Demand for content production tools will rise despite Google's efforts to eradicate thin content.

Most won't spend hours producing link-building articles. Costly.

As guest and sponsored posts, artificial content will thrive.

Before accepting a new arrangement, content creators and website owners should consider this.

Our RISE community is stoked on ChatGPT. ChatGPT has countless uses.

Early on. Companies are figuring out the legal and ethical implications of AI's content revolution. Using AI for everyday tasks is cool.

So I challenged RISE friends... Let's have fun and share non-obvious uses.

Onward!

1. Tweet

Jim MacLeod requested a design-themed Twitter thread from ChatGPT.

2. Novelize

Giuseppe Fratoni writes novels.

"This is amazing!" Impotent. I asked about writing, mystery novels, and jazz.

"Develop a mystery novel plot in which a disillusioned homicide detective hunts a serial killer who targets jazz musicians who play Autumn Leaves."

"I have:

Detective James Thompson is a seasoned veteran of the Homicide department, but lately he’s been feeling burnt out and disillusioned. His latest case, the murder of a young jazz pianist who was found brutally killed in his home, only serves to deepen his sense of despair … (much more provided)

3. Question-and-answer sessions

Bliss recommends:

You have a guest speaker and want to ask audience questions.

Pre-generate questions with ChatGPT. "And here's a question from our AI?"

The conference is about Western water scarcity. Water management expert. My AI question was...

Which desalination-related questions should I ask an expert?

ChatGPT said...

• How is desalination currently being used around the world, and in what types of locations is it most effective?

• What are the potential advantages and disadvantages of using desalination to provide fresh water?

• What are some of the key challenges and limitations of desalination technology, and how are they being addressed?

4. Game-making

Richard's a board game expert. He suggests using ChatGPT to plan games. Note: Some people have started getting help solving crossword puzzle clues.

5. Matchmaking

Tanya Thompson thinks it helps dating. ChatGPT:

Here are some flirty first-message ideas for dating apps:

I noticed you from afar. I had to say hi and see if we clicked.

Your profile picture is gorgeous. I'm obsessed with your [Feature] and want to know you better.

I don't usually message first, but I had to. You're [Attractive Quality] and I can't wait to talk.”

Hello. Your profile intimidates me. I'm starstruck by your [Attractiveness]. (Many instances)

5. Solitude/anxiety

ChatGPT excels at one-on-one conversations.

PepperBrooks: "I'm sad and lonely."

ChatGPT: I’m sorry to hear that you’re feeling sad and lonely. It’s natural to feel down sometimes, but it’s important to remember that you’re not alone. There are many people who care about you and want to help you. It can be helpful to talk to someone about your feelings, whether it’s a close friend, family member, or mental health professional.

Sometimes, just expressing your thoughts and emotions to someone else can help to alleviate your sadness and loneliness. It’s also important to take care of yourself and do things that make you happy, such as spending time with loved ones, pursuing a hobby, or exercising. These things can help to improve your mood and make you feel more connected to others. Remember that you are strong and capable, and that you can get through this difficult time.

Daniel Nestle asked ChatGPT to generate journal prompts to help him deal with anxiety.

1. Write down the things that are causing you anxiety at the moment.

2. Describe a situation in which you felt anxious and how you coped with it.

3. Reflect on how your thoughts and beliefs contribute to your anxiety.

4. Write a letter to your anxiety, expressing your feelings and concerns

5. Imagine yourself in a calm and peaceful place, and describe it in detail.

6. (many more items followed)

6. Names

Continued Daniel:

Also, naming ideas.

Me: Name this drink. Japanese gin, unsweetened tonic, lime, Szechuan pepper, grapefruit.

ChatGPT: How about “Sakura Sunrise?” The name incorporates the Japanese gin and the citrus flavors of grapefruit and lime, and the word “sunrise” suggests a fresh and invigorating start to the day. Alternatively, you could go with something like “Peppered Grapefruit Gin Fizz” to emphasize the unique flavor combination of Szechuan pepper and grapefruit.

7. Translation on the go

Monks recommends: ChatGPT is a perfect mobile translation tool. Say you need help in Italy.

ME: Translate to Italian

Where is the nearest gas station?

ChatGPT: “La mia auto sta per esaurire il carburante, mi puoi dire dove si trova la stazione di servizio più vicina?”

8. Fitness

Monks added:

ME: In 3 months, I want to run 5km. Plan out how I can do this.

ChatGPT: Here's a 3-month plan to run 5km.

• Start by walking for 15–20 minutes each day to build up your endurance and get your body used to regular exercise.

• After a week of walking, begin incorporating short jogs into your routine. Start by jogging for 1–2 minutes at a time, with walking breaks in between. Gradually increase the length of your jogs and reduce the amount of time you spend walking.

• Once you can jog for 10 minutes without stopping, start increasing the distance of your runs. Aim to run 1km without stopping and then gradually increase the distance over time.

• In addition to your regular runs, incorporate strength training and stretching into your routine to improve your overall fitness and reduce the risk of injury.

• (more details continued on)

9. Integrations and coding

10. Teacher lesson plans

Spencer Crandall saved time.

This morning, I wondered who has the hardest job. Teachers.

Many students, little time. ChatGPT could handle lesson planning. I tried it and got this.

Lesson Title: The History and Impact of Artificial Intelligence

Students will understand the history and development of AI and the potential positive and negative impacts on society.

AI timeline AI technologies and applications

Overview:

1. Introduce the topic of artificial intelligence, and explain that it refers to the development of computer systems and algorithms that can simulate human intelligence and behavior.

2. Show the timeline of significant events in the history of AI, and discuss the key milestones and developments in the field.

3. Show examples of AI technologies and applications, and explain how they are used in various industries and fields.

4. Discuss the potential positive and negative impacts of AI on society, including its potential to improve productivity, efficiency, and safety, as well as its potential to create new challenges and concerns, such as job displacement and ethical issues.

(many more details followed)

11. Find podcast guests.

Joeri Billast suggested:

Who should be on my Web3 podcast?

ChatGPT: Web3 marketing experts, influencers, and thought leaders make great podcast guests. These include Web3 marketers, content creators, business owners, entrepreneurs, and technologists. You could invite Web3 startups and organizations to your podcast.

Please give examples.

ChatGPT: Ideal Web3 marketing podcast guests include:

• Tim Berner-Lee, inventor of the World Wide Web

• Chris Dixon, general partner at Andreessen Horowitz

• Vitalik Buterin, founder of Ethereum

• Joe Lubin, founder of ConsenSys

• Susan Fowler, author of Whistleblower

• (many other suggestions)

12. Comments and reviews on social media

Lisa Monk thinks ChatGPT can help retail staff with social media.

She asked ChatGPT to "review this restaurant"

POSITIVE CUSTOMER REVIEW: I absolutely love this place. We eat out a lot however this place has topped it all. Perfect meals, amazing staff and the timing for it all was great! Special thanks to Sophie B (you rock) From your guests all the way from the Gold Coast, THANK YOU

ChatGPT REPLY: Thank you so much for your kind words and for taking the time to write a review. We are delighted to hear that you had such a great experience at our restaurant. We are thrilled that you enjoyed your meal and the service provided by Sophie. It’s always a pleasure to serve guests visiting from the Gold Coast and we are grateful for your support. We look forward to welcoming you back again soon. Thank you again for your positive review.

CUSTOMER REVIEW: Most average food, there is a nice view, But that’s about it

ChatGPT: Thank you for your review. We apologize if your dining experience was not up to your expectations. We strive to provide top-quality food and service to all of our customers, and we will take your feedback into consideration as we continue to improve. Thank you for letting us know about your experience.

13. Crime-fighting

Zack Seipert said, "I researched some famous unsolved murders, and ChatGPT laid out the crime, suspects, clues, and more." I bet experienced detectives could solve some of these cold cases.

14. Reduce bias

Joanne Taylor struggles to remove biases from her writing. She asked ChatGPT for ideas.

I asked ChatGPT to check a text for racial bias, and it did well.

15. Furnishings

I designed a small, unique table using ChatGPT and MidJourney. I edited ChatGPT's idea for clarity and brevity before entering it in MidJourney.

Results:

16. Serialize a novel

Scott Scowcoft led ChatCPT through iterations of a story text to create serialized novel frames. You can view this here.

17. Interview preparation

I was on a sales podcast. Although this is marketing-related, it's not my forte. I asked ChatGPT for help with a sales interview. Response:

Here are some interview questions about the future of sales and how to answer them.

How will technology affect sales in the future?

Technology will impact sales in the coming years. Automation and AI could be used to handle routine tasks, and data analysis and CRM could become more important. E-commerce and online sales channels are also reshaping the sales landscape.

How will the salesperson's role change?

Future sales roles may change in response to changing customer needs and expectations. Salespeople must be knowledgeable and consultative to help customers navigate complex products and services. Increasing importance of data analysis and CRM tools will require salespeople to understand and use technology effectively.

Future sales professionals will need what skills?

Future salespeople will need many skills. Sales professionals must have strong communication and interpersonal skills, as well as product and service knowledge and the ability to use data analysis and CRM tools effectively. Adapting to changing customer needs and staying current on industry trends will also be important for sales success.

18. Gift ideas

I need Christmas gift ideas for my wife. I asked:

Suggest a gift idea under $200 for a middle-aged woman who loves The Eagles.

A middle-aged woman who loves The Eagles might like a vinyl record of "Hotel California" or "The Long Run." Many music fans enjoy the unique sound and experience of vinyl records.

Pair the record with a high-quality record player for a complete gift. The vinyl record and record player should fit within your $200 budget for an Eagles fan.

19. Explaining complex concepts

I entered: Explain quantum physics to me as if I were 10 years old.

Quantum physics is a branch of science that studies how tiny particles, like atoms and subatomic particles, behave. These particles are so small that they don’t always follow the same rules as the things we can see and touch every day.

For example, sometimes they can be in two places at the same time, or they can be friends with each other even if they are far apart. This might sound strange, but it’s what scientists have learned from studying these tiny particles. Quantum physics helps us understand how the world works at a very small scale, and it can also help us make new technologies, like computers that are much faster than the ones we have today.

20. AP-style editing

Blogs, journals, and books follow AP Style. I asked ChatGPT to "edit using AP Style" and it did a great job.

And then... "Write a catchy headline for a blog post about 16 ChatGPT uses"

Here are some possible blog post titles for 20 creative ChatGPT uses:

• “20 Fun and Creative Ways to Use ChatGPT: From Games to Quizzes and More”

• “The Ultimate Guide to Using ChatGPT for Entertainment and Creativity”

• “20 Reasons to Use ChatGPT: How it Can Enhance Your Gaming, Storytelling, and More”

• 20 Entertaining Uses for ChatGPT You Never Knew Were Possible”

• “Unleash Your Imagination with ChatGPT: 16 Creative and Fun Ways to Use it”

In a previous post, I said ChatGPT will change marketing careers forever. I have never made a statement like that in my life. Even in the early days of the internet, people were cautious.

This technology was just released two weeks ago, and over a million people are already using it. This is the fastest technology adoption in history.

Today's post offers inventive and entertaining ideas, but it's just the beginning. ChatGPT writes code, music, and papers.