Looking Back vs. Looking Forward
I've been pondering this quote lately:
"Things are never as bad as they seem or great as they appear."
The first part of this quote is the one I need to work on. I love my life. I am amazingly blessed and fortunate. I also beat myself up over past mistakes. I obsess about them. I go over the circumstances and replay events in my head, trying to find the better ending that never seems to arrive.
Why did I do that? I should have known better. What was I thinking?
You get the idea.
I don't think it's a problem to look back at the unfortunate events of your life. It can be educational for the path ahead of us. But it doesn't do a bit of good if it negatively affects our present and future.
So, stop beating yourself up. We all make mistakes. (I'm talking to you and myself)
I thought this article was helpful on the matter.
"Everyone grows along life’s journey, some in ways that are beneficial, others in ways that restrict their potential. The point is to grow and evolve, not to repeat the same stories and diminish our possibilities."
And then, let it go.
Creator Coins - I Need Your Help
When thinking about today’s Random newsletter topic, I was going to write about something entirely different. But then I thought - hey, these are my people. This is the group I need to work these thoughts through with.
So, I’m venting here in the hopes that a) you’ll find it somewhat interesting and b) you’ll provide me some honest feedback.
I’ve been struggling with the issue of creator coins over the last few weeks. You can’t see this (of course) but I have scribbled notes littering my desk about how to build a coin strategy. I’ve been obsessed. We are at the bleeding edge of this and I think, if we get it right, we could build a model for future creators to follow.
A few months ago The Tilt (our new company) was one of the first organizations to launch a creator coin on the Rally.io network (I think we were #73). The coin is called $TILT coin and can be found here.
We launched at .29 cents per coin and as of this exact moment (9:13 AM ET on May 5, 2021) the price sits at $9.78 per $TILT coin.
I’m on a mission to show that a community’s entire economy can run on their creator coin. If you don’t believe me, it’s already happening. Allie Strasza, creator of $ALLIE coin, has already created millions of dollars in value through her community (she plays card games on Twitch). People buy Twitch subscriptions with her coin, tip Allie directly with it and also tip other members of the community (when they do something positive).
And you’ve already seen what Portugal The Man (the rock band) has done with their creator coin, which was featured in Rolling Stone magazine. Fans that purchase their coin are able to purchase exclusive fan experiences with their $PTM coin.
Yes, there are a few solid examples, but is it possible to run a business using just creator coin? Here are questions that come to mind:
- Can you fund all aspects of the business with a creator coin?
- Can you use it in replacement of a bank? (I’m seriously asking this question)
- Is this a good idea or are we just kidding ourselves?
So here’s what I’m thinking. Some of these are good, solid ideas. Some may be crazy. Some are missing.
$TILT Coin Phase 1
Currently, subscribers of The Tilt newsletter receive a referral code at the bottom of every email. For every referral the subscriber receives some $TILT coin. We also give away $TILT coin to people who share our content on social media or as a nice surprise for people who support us.
We’ve been doing this since the beginning and now have 200 owners of $TILT coin.
Currently, besides the coin having some cash value, you can’t do anything with it.
We’re looking at a number of ways people can use $TILT coin, including:
Signed copies of Content Inc. – purchase and receive signed copies of Content Inc. by using $TILT coin.
Merchandise – buying shirts, hats, sweatshirts, and other swag.
Discord group levels – The Tilt’s Discord group is in beta (you can join here). We’ll be adding different levels of access from coin-holders to VIP access depending on your level of $TILT ownership.
The TILT 50 – holders of 50 or more $TILT coin will be able to join our editorial advisory board, which includes helping us shape what stories to cover and learn about key decisions we are making for the company. The group will chat on the Discord server. This group can/will be involved in what direction we take the company.
Sponsorship – Individuals and enterprises will be able to sponsor portions of The Tilt and our podcasts, Content Inc. (motivational podcast) and This Old Marketing (news about content and marketing), by purchasing $TILT coin.
In the fall of 2021, The Tilt will be launching a training program and courses for content entrepreneurs. These courses can be purchased with $TILT coin or be available for people at certain $TILT coin levels.
Here are some other ideas that I think might have some utility:
Launch NFTs (non-fungible tokens) as tickets to events, creating different levels of experience. These can be purchased directly at Rally.io. Gary Vaynerchuck just launched his first NFT this week, which is open to people who hold his creator coin.
Fund a Creator Program – One of our big ideas is to create 1000 exits (or some number), which means help 1,000 content creators develop significant content-first businesses. I’m thinking we could do this with $TILT coin and work it like a support network or a grant. Content creators could apply and those that we accept we’d fund with, say, 1000 $TILT coin. Then that group could use the value already created in $TILT coin for their community as well. I’m not sure if this is a great idea or not, but…
Other Coin Holders
I spent the day yesterday reviewing what other creators are doing with their coin. Some ideas include:
- Membership levels and perks depending upon coin ownership level.
- Creators will retweet or promote a link for coin.
- Private Discord group for coin holders.
- Private chats and consultations.
- Limited merchandise offers for coin holders.
- Consulting engagements.
I don’t quite have it yet, but I’m getting there. It’s a challenge to think outside a centralized process as creator coins are definitely a decentralized idea (currency outside a sovereign entity, like a government). When someone asks, “you have your own currency, how would it work?” is not easily answered.
So what do you think? What am I missing? Good idea? I’d love your feedback.
Oh, and good ideas emailed to me get $5 in $TILT coin. See how I did that. (make sure you get a free account at Rally.io so I can send you some)
Print Makes Move to Luxury
I appreciated (and agreed with) this take that print media is finally on the move to what it was always supposed to be…moving from a mass-media product to a niche luxury product. Here’s a great article that explains why.
The Content Inc. book tour is in full swing. This week we interviewed Mike Stelzner, founder of Social Media Examiner and Ann Handley, the queen of content marketing. The next two weeks look like this:
How Accidentally Wes Anderson Was Built on Instagram
May 11, 2 PM (EDT) | 11 AM (PDT)
Q&A w/ the content creator behind the AWA Instagram powerhouse that led to an NYTimes bestseller. Audience, revenue and more.
How NLW Created and Built a Massive Crypto Podcast
May 12, 2 PM (EDT) | 11 AM (PDT)
Learn how The Breakdown with @NLW went from zero to millions of downloads. From launch to audience to revenue. Q&A with the founder.
How EMI Built a Content Powerhouse w/Podcasts
May 18, 2:30 PM (EDT) | 11:30 AM (PDT)
Learn how the Engineering Management Institute use Podcasts to grow a content empire. From launch to audience to revenue. Q&A with the founder.
How Kristen Bor Built her “Van Life” Content Empire
May 19, 2 PM (EDT) | 11 AM (PDT)
Learn how the Bearfoot Theory founder uses blogs, Instagram and Pinterest to build audience and drive revenue. Q&A with the founder.
How Michael Jr. Built a Comedy Empire on YouTube
May 20, 2 PM (EDT) | 11 AM (PDT)
Learn how Michael Jr uses comedy and video to grow a content empire. From launch to audience to social media to finding a niche. Q&A with the founder.
For the complete book tour and dates, click here.