Introduction

The host thanks the audience for tuning in and introduces the sponsor of the podcast, Roast Number Coffee. He then welcomes his guest, NFT Hellboy, and asks him to introduce himself.

Introducing NFT Hellboy

• NFT Hellboy is the founder of Bad Cat on the Solana chain.

• He has been in the space for a year and a half.

• Six months ago, they had a roadmap planned out but none of it was built yet.

Project Timeline

The host asks NFT Hellboy to walk them through the timeline of their project since their last podcast episode six months ago.

Progress Since Last Podcast Episode

• In October/November, they dropped the gotcha machine in response to the royalty situation which worked out well for them.

• In December, they dropped the trait swap and huge partnership collection which was successful.

• They raised x amount of money but started losing steam shortly after that.

Restructuring the Team

In this section, the speaker talks about how they restructured their team to improve growth and return value to holders. They also discuss the importance of staying adaptable and open for future changes.

Key Points

• The team found themselves in an interesting situation where they did their whole year plan in four months.

• The process involved looking inward at problems within the structure that were preventing growth for the project.

• The team focused on getting the right members on board who were motivated and understood that sometimes what you want to build in web3 is not product market fit.

• The leadership was centralized into one person carrying out the vision of the core team, while others handled operations.

Reflection and Future Plans

In this section, the speaker reflects on what worked and what didn't work during their restructuring process. They also talk about branching away from trait swapping to help people understand that Bad Cat is more than just a project with a crazy community.

Key Points

• The team completed everything and took a big look at what worked and what didn't work during their restructuring process.

• They want to branch away from trait swapping to help people understand that Bad Cat is more than just a project with a crazy community.

• The speaker emphasizes that when a project announces something, it's important to consider how many people outside of the community are thinking about it and talking about it. This is an important indicator of success because if nobody outside of your community cares, then what you built doesn't matter.

Trait Swapping Process

In this section, the speaker talks about the trait swapping process and what aspects of it worked and didn't work.

Key Points

• The speaker is asked to walk through the trait swapping process and what aspects of it worked and didn't work.

• No further bullet points are provided in this section.

Introduction

The speakers discuss the importance of understanding why certain projects succeed or fail and how to learn from those experiences. They also touch on the fundamentals of successful apps and games.

Importance of Understanding Success and Failure

• It's important to understand why certain projects succeed or fail.

• Learning from these experiences can help improve future projects.

Fundamentals of Successful Apps and Games

• Successful apps and games are based on strong fundamentals.

• Shareability, virality, and the desire to do better are key elements that make an app or game successful.

PFP Staking

The speakers discuss pfp staking as a successful project that they were excited about. They also talk about how staking can quickly become popular in adoption.

PFP Staking

• PFP staking was a successful project that got people talking about it.

• It was polarizing because some people saw it as free marketing while others saw it as punishing those with brands and social identities.

• Staking is a fundamental element in many projects, making pfp staking a natural fit.

• Some debated whether pfp staking was just a niche trend or something that would stay popular.

Trade Swapper

The speakers discuss trade swapper as a project they were initially excited about but lost interest in due to market factors.

Initial Excitement for Trade Swapper

• The speakers were initially excited about trade swapper.

• Fast Eddie pitched them Boots, which made them shift their focus away from trade swapper.

Market Factors Affecting Trade Swapper

• Market share between Famous Fox and Monet by Sac showed that pouring resources into a platform doesn't guarantee success.

• Realizing that being adaptable is important when creating new projects.

Writing from the Headline Down

The speakers discuss their team's approach to creating new projects and how they prioritize virality and polarizing elements.

Writing from the Headline Down

• The team writes from the headline down, focusing on what reactions they want to get.

• They prioritize virality and polarizing elements in their projects.

• Their developers are confident in building anything, so it's about doing something that is good and has an element of virality or polarizing factor.

Virality and Headlines

In this section, the speaker talks about how virality works and how headlines are important in creating content that people will love or hate.

Creating Viral Content

• The team creates something cool first.

• They then work on making the headline look good.

• Finally, they make changes to polarize people into loving or hating it.

Example: Content Video Drops

• The team created a viral TikTok-style video from documentary footage.

• Some team members were against it because they thought it was copying Frank's style.

• However, the controversy generated 70k views and amplified their content's reach.

Learning from Mistakes

In this section, the speaker talks about analyzing past mistakes to avoid repeating them in future projects.

Analyzing PFP Staking Success

• The speaker reflects on the success of PFP staking as an example of what worked well for their project.

• They aim to take that approach into everything they do while emphasizing strengths and trimming unnecessary elements.

Filtering Opinions from Founders

• The speaker used to take in every opinion from founders but now realizes that not all opinions are valuable.

• They analyze each founder's experience to determine whether their opinions should be taken into account or disregarded.

Building Rationale for D-God PFP

In this section, the speaker discusses why they believe their D-God PFP is more valuable than changing it to a photo of themselves.

Limitations of Changing PFP

• The speaker cannot change their PFP and believes that changing it to a photo of themselves would limit their interest in the project.

• They believe that building rationale for why someone should never want to change their PFP is more important than allowing them to change it.

Building Social Capital

In this section, the speaker discusses the importance of building social capital and creating value for a project. He uses his own experience with his D guide pfp to illustrate how it can create value and attention for a project.

Importance of Social Capital

• Creating value and attention for a project is important in making people want to hold onto their pfp.

• The speaker shares his experience with Ute list and how it created more weight for his pfp.

• Creating top-notch high-quality projects that transcend everything else is essential in building social capital.

Learning from Other Projects

• The speaker emphasizes the importance of learning from other projects and analyzing what works.

• He cites Plano drops as an example of successful IRL events that have created perceivable value for their community.

• Analyzing situations to figure out if there's something Bad Cats can take away from them is crucial in building social capital.

The Value of Luxury Goods

In this section, the speaker discusses the value of luxury goods and how they can dominate the market by consistently dropping valuable products at all price points. They also mention that utility is not the only factor in creating a successful brand.

Luxury Goods and Dominating the Market

• Luxury goods have immense value off the bat.

• Consistently dropping things of value at all points and all price points helps to dominate in the market.

• Utility is not the only factor in creating a successful brand.

Social Value and Perceived Value

• Social value and social capital are important factors in building a community around a brand.

• To understand perceived value, it's important to understand how influential people use or wear certain products.

• Having influential people in a community attracts others of equal status or those who aspire to be of equal status.

The Role of Utility in Product Development

In this section, the speaker discusses how utility is not always the most important aspect of product development. They explain that sometimes intangibles like social value and perceived value can be more important.

Supplemental Utility

• The direction should not just focus on building utility but rather making it supplemental to other aspects like branding and experience.

• Sometimes products with less true utility can still hold more perceived value than those with more true utility.

Conclusion

In this section, the speaker concludes by stating their goal to catapult their brand into luxury status by taking steps to get there and then excel. They also mention the importance of understanding the perceived value of a product.

Goals for the Brand

• The goal is to catapult the brand into luxury status.

• Understanding perceived value is important in creating a successful product.

NFT Space and Project Sustainability

In this section, the speakers discuss the sustainability of NFT projects and how to keep floor prices at a sustainable rate. They also talk about the difficulty of succeeding in the NFT space and how it requires constant learning and evolution.

Keeping Floor Prices Sustainable

• Companies have to keep their prices competitive so people are willing to spend money on them.

• The best utility is when people feel good about owning a project, which helps maintain a sustainable floor price.

• It's difficult to accomplish sustainability in the NFT space, but it's important for projects to constantly learn and evolve.

Difficulty of Succeeding in the NFT Space

• Many people start NFT projects without understanding what they're getting into.

• What works now won't necessarily work six months from now, so it's important to constantly adapt.

• The NFT space is not easy, and success requires both luck and humility.

Lessons Learned as an NFT Founder

In this section, the speaker talks about lessons learned as an NFT founder, specifically regarding delegation and focusing on big-picture planning.

Importance of Delegation

• Delegation is crucial for founders because it allows them to focus on big-picture planning instead of day-to-day operations.

• Trusting your team is key to being able to delegate effectively.

Focusing on Big-Picture Planning

• Networking with other founders can help open doors that were previously closed.

• Being hands-off enough to focus on big-picture planning is important for a founder's success.

• It's important to be able to trust your team to execute on the vision while you plan for the future.

PFP Staking and Onboarding New Users

In this section, the speaker discusses the importance of onboarding new users and how PFP staking helped to catapult their product.

Importance of Onboarding New Users

• The biggest thing a company can do is onboard new people.

• Catering only to your community does not help anyone.

• Finding ways to get new holders in makes what current holders are doing more valuable.

PFP Staking

• PFP staking was what catapulted them up.

• It's exciting for core holders but non-core holders need to be brought in as well.

Strategic Execution and Team Restructuring

In this section, the speaker talks about strategic execution and team restructuring that took place in February 2021.

Strategic Execution

• Being focused on the here and now is not enough.

• Timing is important when executing strategies.

• The speaker has more free time now which allows for more surgical execution.

Team Restructuring

• Lunar is no longer part of the main or core team.

• The speaker has moved up into creative direction lead.

• Lead artist Shark was given more creative freedom.

• Two or three different artists were onboarded to improve art flow structure.

• Moderation team was restructured with dedicated individuals who exercise talent and dedication beyond monetary perspective.

Building the Best Team for Project Success

In this section, the speaker discusses how to build a successful team for a project. He talks about finding and utilizing underutilized talent, adding more developers to the team, and creating an organizational structure that allows for faster execution of new concepts.

Finding Underutilized Talent

• The speaker suggests finding talent from projects that are not doing well and offering them work on your project.

• This approach allows you to repurpose underutilized talent to make something really good.

Adding More Developers

• The speaker talks about adding another developer to their team whose job is dedicated solely to working on Bad Cat full-time.

• This addition will help them meet deadlines and avoid delays in delivering content.

Creating an Organizational Structure

• The speaker mentions that they have up to nine developers working on Bad Labs but it's still hard to make timelines because their priority is always servicing clients.

• Having someone dedicated solely to working on Bad Cat full-time will allow them to meet deadlines and put out content faster.

• By breaking down the process into smaller tasks such as designing traits or creating pallets, they can execute new concepts faster than before.

• With this new organizational structure, they aim to trim unproductive members of the team so that they can run efficiently.

Factors for Project Success

In this section, the speaker discusses two factors he looks for in determining project success: additional revenue streams and adaptability.

Additional Revenue Streams

• The speaker believes having an additional revenue stream is crucial for sustaining a project.

• While some projects succeed without one, having one is a huge benefit.

Adaptability

• The speaker emphasizes the importance of a project's ability to change consistently in a rapidly evolving space like crypto.

• He cites the example of when SVB fell and how quickly things changed in the space.

• To succeed, projects must be able to adapt and change with the times.

The Immortals Collection

Bad Cat is releasing a one-on-one collection called The Immortals, which is branded around the concept of immortalization. It will feature pixelated bad cats that are iconic throughout the lore of BBD and collaborations with one-of-one artists.

One-on-One Collection

• Bad Cat is putting together a 100 supply collection of one-of-one pixelated bad cats.

• The entire theme and premise of the collection is iconic bad cats throughout the lore of BBD.

• The collection will be filled with collaborations with one-of-one artists who have complete creative liberty to express themselves and be part of this world, place, and lore.

• There are many different variations of the one-of-ones from different people, and they're not even keeping the base fully homogeneous.

Benefits

• By bringing in different communities interested in pixel art or collector aspects, it can benefit the ecosystem by expanding IP in a fun way.

• This PFP can distinguish which holders are identifiable members to the community rather than just holders of Bad Cat. People who have kind of a status symbol PFP typically.

Bad Cats: The Future of the Project

In this section, the speaker talks about upcoming events and projects related to Bad Cats. They also discuss their plans for the future of the project.

Exciting Upcoming Projects

• Bad Cats will be auctioned in different forms, which is exciting.

• Artists putting their own version of another project is a unique twist on the project.

Future Plans for Bad Cats

• The speaker talks about what holders should be excited about in the next four or five months.

• Everything that they are doing is built around subverting expectations.

• They are shifting their priority to creating exciting things that just smash headlines straight up.

• They want to constantly be on people's feed with new and exciting content every two weeks.

Adapting and Pivoting

• The speaker discusses how they plan to adapt and pivot in response to changes in the market.

• They want to create exciting things that cater to the attention span of product-market fit.

• Instead of following a linear plan, they will have a structure where once they have one hit, they will follow it up with another sequence.

Capturing Hype and Attention

In this section, the speakers discuss the importance of being able to capture hype and attention in the NFT space. They emphasize the need for adaptability and consecutively hitting it out of the park.

Repeating Success

• The ability to repeat success over and over again is what makes a project legendary.

• Teams that can prove they can run good announcements back to back and keep the hype train going are one in a thousand in the space.

• The best projects in the space manage to capture hype and attention repeatedly.

Adapting to Change

• Solving issues after a lull is really hard, but adapting is key.

• Being adaptable is important for projects, but pride can be an issue in the NFT space.

Building Trust

• Once you prove that you can repeat success over and over again, you gain trust from holders and the ecosystem.

• Delivering repeated results helps build trust with holders who know that bullish things will come out eventually.

Understanding Holders' Motivations

In this section, the speakers discuss why understanding holders' motivations is important for building successful NFT projects.

Importance of Holder Motivations

• Understanding why people buy into your project is crucial for its success.

• Asking questions about what makes people excited about a project can help understand holder motivations.

Pride in the NFT Space

• Pride can be an issue in the NFT space, as everyone thinks their idea is the best.

• It's important to understand why holders are bullish on certain features and how much they have invested in a project.

Understanding Feedback Mechanisms in the NFT Space

In this section, the speaker discusses the importance of feedback mechanisms in the NFT space and how they can be used to understand why people buy and hold certain NFTs. The speaker emphasizes that asking holders for feedback is an underutilized aspect of the NFT space.

Importance of Feedback Mechanisms

• People who have the ability to spend large amounts on NFTs may not necessarily do so if they don't see value in a particular feature.

• Asking holders for feedback can provide valuable insights into their buying decisions and help creators understand what features are most important to them.

• Different people have different reasons for buying and holding NFTs, making it important to gather feedback from a diverse group of holders.

• The ability to go directly to holders for feedback is unique to the NFT space and should be utilized more often.

Pride and Feedback

• The speaker emphasizes that pride can get in the way of understanding why people buy or hold certain NFTs, and encourages asking enough questions to truly understand their motivations.

• Gathering feedback helps creators learn, grow, evolve, and avoid becoming stagnant.

Generating Feedback

• The speaker discusses various ways they generate feedback, including talking with other founders who have produced good results, influencers who make threads within communities, and other big DAO communities.

Understanding the Importance of Team Behind a Product

In this section, the speaker talks about how people are more invested in the team behind a product than the product itself. He emphasizes that it is important to put out impactful content and source feedback from people to understand what they find exciting.

People Invested in Teams

• People are more invested in the team behind a product than the product itself.

• Many people love trade swapper, but on a wider aspect, people are invested in the historical value behind the team.

• People get attached to individuals they have seen grow and evolve from their mistakes.

Delivering Value Directly

• Having a direct line of deliverables for value back to holders directly is essential.

• Consistently delivering value through access points like events or status symbols is crucial.

• Sourcing feedback from different groups like whale groups, founders, influencers, and podcasters can help filter what works and what doesn't.

Scaling Opinions Based on Importance

• Some things don't need too much feedback like marketing content.

• If something is going to be a mass inflection point of onboarding users, it's important to develop two months around structuring this point and then everything else is supplementary.

Overall, understanding that people invest in teams rather than products themselves is crucial. Delivering value directly through access points and consistently sourcing feedback can help filter what works and scaling opinions based on importance can help prioritize tasks.

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Excitement for Bad Cats and New Age Founders

In this section, the speaker talks about their excitement for Bad Cats and their involvement in New Age Founders, a collaborative space for founders to connect and source feedback.

Position to Help Bad Cat

• The speaker is excited about their position as an individual to help Bad Cat achieve its goals.

• They have a direct line of communication with the Solana Foundation and can leverage networks through a group called New Age Founders.

• The group has over 200 different founders who can collaborate and provide feedback on each other's projects.

New Age Founders

• New Age Founders is a safe haven collaborative space where over 200 founders can connect, build networks together, source feedback, and help each other out.

• There is a bulletin board where announcements of upcoming releases can be posted without fear of leaks.

• Members give founder feedback on pricing or whether something will hit or not.

• The speaker believes that having such an environment where everyone can get feedback and exercise humility is massive for the space.

Contributions to Solana Foundation

• Through their involvement in New Age Founders, the speaker was able to source different things that founders and creators need.

• They were able to take these needs back to the Solana Foundation during conversations with Anatoly.

• Some of these needs include communication channels between the foundation and small projects, forums for highlighting projects that are vetted by the community, marketing advice, code repos access, Twitter API access for small creators who have no chance at talking directly with the foundation due to scalability issues.

Importance of Community

• The speaker emphasizes that it's important to have the right people inside of communities like Bad Cat because they are not just looking at the scope of Bad Cat but also the scope of Solana.

• They have seen a lot of different founders buying into the project because of the impact that relationships are having.

The Future of Bad Cat

In this section, the speaker talks about his excitement for the future of Bad Cat and how he has all the resources to create cool things.

Passion for Bad Cat

• The speaker is more passionate about Bad Cat than anything else in his life.

• He gets excited when they complete a project with many parts and everything comes together.

• They are ahead of schedule by five days, which allows them to curate content and plan releases better.

Working Hard

• The team is working harder than ever before, and the speaker only wants people who want to work ridiculously hard around him.

• He had two hours of sleep before coming on a flight at 4 am with a layover.

• When you're passionate about what you're doing, it makes sense to work long hours.

Responsibility as a Founder

• The speaker feels responsible for those who invest in Bad Cat because they are putting their money into something he is building.

• He thinks about the responsibility that creators have in this space, and not everyone feels that way.

Responsibility as Creators

In this section, the speaker talks about the responsibility that creators have towards their investors.

Importance of Responsibility

• Not everyone feels responsible towards their investors in this space.

• The best feeling for the speaker is when holders are going crazy after a drop knowing that their work created made that experience possible.

Passion for Creating Experiences

• Knowing that people buy into Bad Cat excites him because he knows what they're getting themselves into: a team of people working way harder than they need to be.

• People can reach out to him anytime because his DMs are always open.

• Some of the best talent he found was through messages from fans.

Introduction

In this section, the speaker talks about the team's focus on development speed and quality. They also express gratitude for their position and support.

Team Focus

• The team is focused on development speed, quality, and taking every opportunity to make things happen.

• The speaker emphasizes that this is what people are buying into when they invest in Bad Cap.

• They express gratitude for their position and support.

Relaunch Success

• Bad Cap has relaunched successfully and is now in the top 50 volume again.

• This is a big improvement from being ranked 112th previously.

• The speaker expresses gratitude to everyone who has been supporting them.

Collaboration and Humility

In this section, the speaker discusses collaboration between project founders, the importance of humility, and networking within the ecosystem.

Collaboration

• The speaker praises collaboration between Bad Cap and other project founders.

• They express a dislike for competition within the space and instead want all projects to succeed.

• Supporting each other helps grow the space as a whole.

Humility

• The speaker emphasizes the importance of humility in learning from mistakes and continually growing.

• Connecting with others in the ecosystem through networking can help with recovery from setbacks.

Learning from Setbacks

In this section, the speaker talks about learning from setbacks and continuing to move forward.

Importance of Feedback Loop

• Continually reflecting on what you've learned can help you move forward after setbacks.

• Being tapped into your community can help you recover from good or bad situations.

Dealing with Frustration

• It's important to keep in mind that one step away from success even when things don't go according to plan.

• Learning from frustrating situations can lead to growth and success.

Manifesting Luck through Hard Work

In this section, the speaker emphasizes the importance of hard work in manifesting luck.

Importance of Consistent Hard Work

• The speaker firmly believes that luck is manifested by consistent hard work.

• If you're not getting results now, keep working hard and eventually, luck will come.

• Frustration after a year in the space is normal, but success can still be achieved with consistent effort.

The Importance of Hard Work

In this section, the speaker emphasizes the importance of hard work and how it pays off in the long run.

Hard Work Pays Off

• Putting in the right work every day will pay off.

• Expect to fail hard and expect to succeed even harder.

• Accumulated gain from knowledge, experiences, and failures.

Conclusion

In this section, the speaker wraps up the conversation by thanking everyone for tuning in and expressing excitement for Bad Cats Chapter Two.

Wrapping Up

• Thanking everyone for tuning in.

• Expressing excitement for Bad Cats Chapter Two.