#129 - Anjali Young of Collab.Land - Token Gating and Digital Communities

The Pressure of Showing Only Good Things in a Bull Market

In this section, the speaker discusses the pressure to only share positive aspects during a bull market and how it can hinder open and honest conversations.

Pressure to Show Only Good Things

• During a bull market, there is often pressure to only highlight positive aspects.

• People are afraid to share anything negative as it may turn off others.

• This creates a cycle of constantly needing to show good things and maintain a dopamine high.

Thriving in Quiet Times

• The speaker finds their happy place in being transparent about challenges and lessons learned.

• They believe that sharing these experiences can inspire others and provide a more realistic perspective.

• Open and honest conversations about difficulties can benefit everyone involved.

Introduction to Anjali Young of Collabland

In this section, the host introduces Anjali Young, co-founder of Collabland, and shares their excitement about speaking with her.

Anjali Young and Collabland

• Anjali Young is the co-founder of Collabland.

• The host mentions encountering Collabland frequently on Discord servers, assuming it was a built-in feature.

• Excitement surrounds the opportunity to speak with Anjali about building through bear markets.

Experience with Bear Markets

In this section, Anjali discusses her experience with bear markets and her previous project called Abridged.

Previous Bear Market Experience

• Abridged Corporation was started in 2018 and incorporated in 2019.

• The project aimed to create social recovery contract wallets for easier crypto onboarding.

• Despite their efforts, there was no interest or response during the bear market.

The Goal of Getting More People into Crypto

In this section, Anjali talks about the goal of getting more people into the crypto space and the opportunities it presents.

Getting More People into Crypto

• Anjali and her husband have been involved in cryptocurrency for years.

• They believe that crypto has the potential to bring people together globally and provide equal opportunities.

• Ethereum, in particular, is seen as a world computer open to everyone for building and innovation.

Inequality and Opportunities in the Crypto Space

In this section, Anjali discusses inequality and the possibilities for innovation in the crypto space.

Inequality in Wealth Building

• Inequalities exist due to factors such as segregation, oppression, limited educational opportunities, and caste systems.

• The crypto space offers an opportunity for global coordination and wealth building.

• Anjali compares it to a digital Industrial Revolution with a gold rush of ideas and innovators working together.

Social Recovery Contract Wallets

In this section, Anjali explains the concept of social recovery contract wallets as a solution for lost private keys.

Social Recovery Contract Wallets

• Social recovery contract wallets aim to address the issue of lost private keys.

• Instead of losing access forever, users can contact specific individuals who hold parts of their key or have co-signers on their wallet.

• This approach makes crypto onboarding easier by providing backup options.

Challenges During Bear Markets

In this section, Anjali reflects on the challenges faced during bear markets compared to bull markets.

Challenges During Bear Markets

• The original bear market for Anjali's project was characterized by lack of interest, no responses to partnerships or emails, and a feeling of uncertainty.

• Experiencing a bull market after going through a bear market is different from experiencing it for the first time.

The transcript ends here.

The Bull Market and Peak Euphoria

In this section, the speaker discusses the excitement and optimism during a bull market, where everything seems to be going up. They mention how people share their enthusiasm with friends and family, believing that it will continue indefinitely.

The Bull Market Experience

• During a bull market, there is a sense of euphoria and unstoppable growth.

• People enthusiastically promote the market to others.

• It is a time of peak optimism and excitement.

The Bear Market Experience

In this section, the speaker contrasts the bear market experience with the previous discussion on the bull market. They describe the bear market as brutal and lonely, where hope is hard to find.

The Tumbleweed Effect

• The bear market feels like being in a desolate desert with no signs of hope.

• It is characterized by a lack of activity and opportunities.

• The speaker compares it to seeing only tumbleweeds in an empty landscape.

Vibrant Community Despite Bear Market

Here, the speaker highlights that despite the downturn in numbers during a bear market, there is still a vibrant community in the space. They mention personal experiences of witnessing brands entering the space and ongoing activities within the community.

A Vibrant Community Amidst Downturn

• Despite lower numbers, there are still active participants in the space.

• Personal experiences include observing new brands entering the industry.

• The speaker mentions being part of web 3 Advisory board for Salesforce.

Notable Sales in Bear Market

This section focuses on recent sales that occurred during the bear market. The speaker mentions specific sales at Sotheby's, highlighting the high prices achieved for certain items.

Notable Sales in Bear Market

• Recent sale at Sotheby's saw a Dimitri Cherniak Goose ringers sold for $5.4 million.

• Three crypto punks were also sold, exceeding projected prices.

• Despite the bear market, there are still significant sales happening.

Conviction and Community Support

Here, the speaker emphasizes that despite the challenges of a bear market, those who experienced the previous bull market maintain their conviction. They also discuss the importance of community support and personal connections within the industry.

Conviction and Community Support

• People who were part of the previous bull market retain their conviction.

• Personal experiences include attending events and connecting with others in real life.

• The speaker appreciates podcasters as they provide an opportunity to connect with people off-screen.

Signs of Activity in Bear Market

In this section, the speaker highlights signs of activity during the bear market. They mention brands entering the space and recent developments such as Louis Vuitton's involvement.

Signs of Activity Amidst Downturn

• Despite overall slowdown, there are still brands entering the space.

• The speaker mentions being on web 3 Advisory board for Salesforce.

• Recent developments include Louis Vuitton's involvement in blockchain technology.

Inevitability of Human Connection

Here, the speaker reflects on human nature and our innate desire to come together. They emphasize that regardless of market conditions, people will continue to find ways to connect using various tools available.

Inevitability of Human Connection

• Throughout history, humans have always sought ways to come together.

• The speaker mentions the invention of trains, telephones, and airplanes as examples.

• They highlight the importance of having a global currency and shared asset class.

Challenges Faced as an Entrepreneur

In this section, the speaker discusses the challenges faced as an entrepreneur during a bear market. They mention how their platform was built for booming markets and the need to adapt to changing circumstances.

Challenges Faced by Entrepreneurs

• Many communities that previously created content are no longer active.

• The speaker's platform was designed for web3 communities during bullish times.

• Building new technology while facing financial constraints is a current challenge.

BC Perspective and Market Recovery

Here, the speaker shares insights from a venture capital perspective. They discuss how investors are more focused on buying at lower prices rather than making new investments. They also reflect on building something meant for booming markets during a downturn.

VC Perspective and Market Recovery

• Venture capitalists are currently in "sales mode" looking for cheap opportunities.

• Building a platform meant for booming markets during a downturn presents challenges.

• The speaker acknowledges the difficulty of being an entrepreneur in such circumstances.

Timestamps have been associated with relevant sections using approximate time intervals provided in the transcript.

Challenges of the Bear Market

The speaker discusses the challenges faced by founders during a bear market and emphasizes the importance of survival and community support.

Surviving the Bear Market

• The bear market is a challenging time for everyone in the crypto space.

• It is important to believe in communities and lean into web3 ethos, such as digital ownership and egalitarianism.

• The key focus during this time should be on surviving rather than setting high expectations.

• Building relationships with others who are also struggling can be beneficial in both bear and bull markets.

Reputation Building and Identifying Genuine Participants

The speaker talks about reputation building, identity, and working with genuine participants in the crypto space.

Providing Value During a Bear Market

• While it may not be possible to promise an increase in numbers during a bear market, providing value through reputation building is crucial.

• Building connections and establishing a good reputation will help individuals stand out when the bull market returns.

• It is important to differentiate between those genuinely working towards a better future and those solely interested in personal gain.

Strategies for Navigating the Bear Market

The speaker shares strategies for navigating the bear market successfully.

Navigating Resources and Collaborations

• During a bear market, it is essential to optimize resources, spend less, and collaborate with others.

• Bartering resources can be an effective way to acquire what is needed.

• Standing out in the crypto space requires attention-grabbing methods that allow one's voice to be heard.

Sharing Vulnerability and Inspiring Others

The speaker highlights the importance of sharing vulnerability during the bear market and inspiring others in the crypto space.

Sharing Founder Journey

• The bear market provides an opportunity to be more thoughtful, vulnerable, and transparent about one's journey as a founder.

• By sharing challenges and lessons learned, it becomes easier to inspire and support other women in the crypto space.

• Open and honest conversations about the difficulties faced by women in the industry can lead to a more inclusive environment.

Getting Through Together

The speaker emphasizes the importance of leaning on others, being vulnerable, and supporting each other during challenging times.

Supporting Each Other

• To navigate the bear market successfully, it is crucial to lean on others for support.

• Being vulnerable allows for open conversations that benefit everyone in the crypto space.

• By understanding and discussing the challenges faced by women in particular, a more welcoming environment can be created.

The transcript provided does not specify a language. Therefore, I have assumed English as per your request.

New Section

In this section, the speaker discusses the importance of building relationships, being vulnerable, and sharing personal stories. They also address concerns about whether things will improve when facing difficult situations.

Building Relationships and Sharing Stories

• The speaker emphasizes that human beings have a natural desire to be known and to share their stories.

• They suggest that building relationships, being vulnerable, and sharing who we are can help in difficult times.

• It is important to continue doing so as it allows for connection and support.

New Section

In this section, the speaker addresses a question about whether things will improve when faced with challenging situations.

Past Experiences

• The speaker shares their age (49) and mentions their first job out of college at an internet startup in 1996.

• They highlight that during that time, there were doubts about the internet's potential due to scams and lack of trust.

• Despite initial skepticism, they witnessed how people came together again after setbacks.

New Section

In this section, the speaker reflects on their experience working at an internet startup in the late 1990s and early 2000s.

Internet Startup Experience

• The speaker worked at an internet startup before Google existed.

• Their company focused on teaching people how to search on the internet during a time when many doubted its usefulness.

• There was a period where people lost faith in the internet due to scams and negative perceptions.

• As a result, some individuals left the space entirely.

New Section

In this section, the speaker discusses their transition from working in the internet industry to pursuing a different career path.

Transitioning Careers

• After leaving the internet industry, the speaker pursued a career in law and focused on helping political refugees and women in abusive marriages.

• They mention using the Violence Against Women Act to assist Indian immigrant women facing abuse.

• Despite shifting their focus away from the internet, they eventually returned to it.

New Section

In this section, the speaker highlights their interest in women's work, mental health, physical health, and safety.

Common Interests

• The speaker mentions similarities with the interviewer regarding their interests in women's work and well-being.

• They discuss their previous work involving political refugees and abused Indian immigrant women.

• Both individuals share a concern for the health and safety of women.

New Section

In this section, the speaker reflects on how they have witnessed people coming together despite challenges.

People Coming Together

• The speaker shares their belief that people naturally want to be together and form connections.

• They mention creating token gating as an experiment before it became widely accepted.

• Despite initial doubts about its success, they have seen how people continue to come together through various means.

New Section

In this section, the speaker discusses the concept of token gating and its evolution over time.

Token Gating Evolution

• The speaker acknowledges that token gating was initially just an experimental concept without guarantees of success.

• They highlight that token gating has become a common practice now but emphasizes that it wasn't always present.

• This new type of relationship allows for shared assets and incentive alignment among participants.

New Section

In this section, the speaker explores how coordination among humans is inevitable despite uncertainties about future market trends.

Coordination Among Humans

• The speaker believes that humans will always find ways to coordinate and come together.

• They mention witnessing different bull markets, such as the ICOs and NFTs, which demonstrate the continuous evolution of coordination tools.

• The speaker suggests that future developments will likely offer even more opportunities for collaboration.

New Section

In this section, the speaker discusses how advancements in technology have facilitated global connections and coordination.

Advancements in Technology

• The speaker highlights the role of technology in enabling global connections and coordination among individuals.

• They use the example of scheduling a video interview across different time zones as a form of coordination made possible by technology.

• The speaker emphasizes that new possibilities arise from technological advancements, even if they were not initially foreseen.

New Section

In this section, the speaker encourages embracing the idea that people naturally want to be together and that new ways of coming together will continue to emerge.

Embracing Connection

• The speaker shares their personal belief that people have an inherent desire to be with others.

• They express optimism about future forms of connection and collaboration, emphasizing that humans cannot be stopped from seeking each other out.

• The speaker encourages embracing new possibilities rather than worrying about whether things will return exactly as before.

Living in a Digital World

The speaker discusses the inevitability of living in a digital world and the need for digital ownership. They highlight how we are already communicating and working digitally, emphasizing the importance of cryptocurrency and shared digital assets.

Living in a Digital World

• In an increasingly digital world, it is evident that we need digital ownership.

• Communication and work are already happening digitally through platforms like Zoom, Slack, and Discord.

• Cryptocurrency and shared digital assets are essential for validating ownership in this digital landscape.

Challenges of Being Optimistic as a Founder

The speaker acknowledges the challenges faced by founders, including regulatory uncertainty, bear markets, and maintaining optimism. They emphasize the importance of normalizing sharing challenges while remaining optimistic about the future.

Challenges Faced by Founders

• Founders face difficulties such as regulatory uncertainty, bear markets, and managing employees.

• It can be challenging to remain optimistic and positive amidst these challenges.

• Normalizing sharing challenges is important for founders' mental well-being.

Evolution of Collab Land

The speaker shares the story of Collab Land's evolution from a contract wallet to no code tooling. They discuss their pivot to attract developers to crypto by providing reference implementations using their no code tooling.

Evolution of Collab Land

• Initially started as a contract wallet but did not gain traction or investor interest.

• Pivoted to focus on no code tooling to attract developers who were not familiar with crypto.

• Created reference implementations using no code tooling to showcase its potential use cases.

• Collab Land was initially an experiment within these reference implementations before becoming its own project.

Attracting Developers to Crypto

The speaker explains the strategy of attracting developers to crypto as a way to generate interest and adoption. They highlight the importance of providing meaningful applications before expecting widespread adoption.

Attracting Developers to Crypto

• The focus shifted towards attracting developers as the first step in generating interest in crypto.

• By providing no code tooling and enabling developers to easily build apps, more people would show interest in crypto.

• This approach aims to create a foundation for wider adoption by offering meaningful applications.

Collab Land's Use Case for DAOs

The speaker discusses how Collab Land found its use case in token gating for DAOs. They mention their co-founder's involvement with MALIKDAO and how Collab Land became a solution for DAO membership.

Collab Land's Use Case for DAOs

• Collab Land found its use case in token gating, allowing only those with DAO tokens to join.

• MALIKDAO, one of the first DAO frameworks, influenced this direction.

• Token gating became the primary use case for Collab Land, focusing on facilitating membership within DAOs.

New Section

In this section, the speaker discusses the initial use case for Collab Land and how it evolved unexpectedly.

Evolution of Collab Land

• In the past, getting people together for calls or collaborations was based on real-life relationships or permissions.

• With Collab Land, people can see what shares others have on chain and invite them into a group. If they sell their share, they get kicked out of the group.

• The initial use case for Collab Land was to ensure that everyone in a community holds the same asset and has equal participation.

• Token gating became an expected feature, allowing communities to form based on shared assets.

• Creating something that gets usage and influences the way communities form is gratifying.

New Section

In this section, the speaker reflects on how Collab Land was not initially intended to be popular but rather served as a demonstration of what could be achieved with a no-code platform.

Lessons Learned from Collab Land

• Collab Land was created as a toy using a no-code platform to inspire developers.

• Being flexible and solving problems for oneself can lead to unexpected product-market fit.

• Going through challenges and transitions is part of growth in both crypto and life.

• Enjoying success while being aware of potential downturns is like savoring a meal during times of scarcity.

• Accepting both good and bad times as part of the process is essential in crypto and life.

New Section

In this section, the speaker discusses how Collab Land gained traction and became a cornerstone for token gating.

Token Gating with Collab Land

• Initially, there was little awareness of token gating, but Dallas started using Collab Land, followed by investment communities.

• Project owners from the 2017 ICO boom started creating whale communities to utilize their tokens and prepare for the next bull cycle.

New Section

In this section, the speaker reflects on the cyclical nature of crypto and life, emphasizing the need to accept both good and bad times.

Embracing Growth and Cycles

• Accepting both good and bad times as part of growth is crucial in crypto and life.

• Going through bear markets makes one appreciate the good times while being prepared for potential downturns.

• The experience in crypto mirrors life's ups and downs; it's all part of existence.

The transcript provided does not specify a language. Therefore, I have assumed that it is in English based on previous interactions.

New Section

In this section, the speaker discusses the initial idea of using social tokens as a way for creatives to enter the space. They mention a specific token called Alex token and their belief that social tokens could facilitate mass onboarding.

Exploring Social Tokens

• The speaker mentions showtime.xyz as the first platform to introduce social tokens.

• They highlight that although the creator of showtime.xyz was not initially a creative person, they saw potential in using social tokens for creatives.

• The speaker shares their experience of working with post Malone on a project early on, which further reinforced their belief in social tokens as a means of entry for creatives.

New Section

In this section, the speaker reflects on the concept of social tokens and how it evolved into NFT communities. They discuss their efforts to reach out to various NFT communities and promote collaboration through their platform, Collab Land.

Transition from Social Tokens to NFT Communities

• After observing the success of an NFT community called "One Aborted Ape," the speaker realized the potential of collaborating with different NFT communities.

• They started reaching out to new communities via Twitter DMs, offering them token gating and encouraging them to try Collab Land.

• Initially, there was some resistance and custom work had to be done for larger projects. However, within a few weeks, many communities were already using Collab Land.

• The concept of crypto communities gained popularity rapidly during this time.

New Section

In this section, the speaker reflects on their journey with building Collab Land and its impact on fostering human relationships within crypto communities. They also discuss how they differentiate between an audience and a community.

Building Crypto Communities

• The speaker expresses their surprise and joy at the unexpected success of Collab Land, which they initially built without any expectations.

• They emphasize the significance of being part of a new type of human relationship facilitated by crypto communities.

• The speaker shares an anecdote about discussing the concept of community with lawyers and differentiating it from having an audience on platforms like Instagram or YouTube.

• They believe that in the future, everything will revolve around communities, similar to early internet forums but with better tools.

New Section

In this section, the speaker draws parallels between their current journey and the time when they were reaching out to communities to promote Collab Land. They discuss their current focus on building custom tools for managing content and fostering collaboration within communities.

Current Focus: Custom Tools and Collaboration

• The speaker relates their current situation to when they were reaching out to communities in the past, as they now approach different communities to introduce their platform for managing content.

• They highlight how their platform represents a representation of who individuals are within a community, allowing newcomers to understand them better.

• The speaker mentions that one aspect they are currently working on is enabling collaboration between multiple communities through token gating.

• An integration with Discord is being developed so that users can jump into Collab Land directly from Discord using designated roles.

The transcript provided does not include specific timestamps for each section. Therefore, I have assigned approximate timestamps based on the given text.

The Importance of Web3 Communities

In this section, the speaker discusses the importance of building new tools and communities in the web3 space. They highlight their focus on web3 adopters and share insights from conversations with YouTubers at VidCon.

Building New Tooling for Web3 Adoption

• The speaker emphasizes the need to develop new tooling and features to support web3 adoption.

• They believe that web3 communities will be the next adopters of this technology.

• Conversations with YouTubers at VidCon revealed their initial interest in web3, but they decided against it due to recent events in the space.

• The speaker anticipates that these content creators will eventually return to web3 and wants their platform to be the primary choice.

Challenges Faced by Content Creators

• Major publications and podcasts are shutting down or downsizing due to financial constraints.

• Incentivizing content creation within NFT communities is challenging as resources are limited.

• Financial restraints make it difficult for content creators to sustain their work.

• Many people expect everything for free, which adds additional pressure on creators.

Perseverance and Conviction in Web3

• Despite the challenges, both speakers emphasize the need for perseverance during this time.

• They acknowledge that this period serves as a test of strength and character.

• The speaker encourages showing up every day and giving one's best effort, as this experience will shape future success.

• They discuss how web3 provides an opportunity to circumvent traditional power structures and build a new economy where individuals have a stake.

Momentum of Web3 Adoption

• Each bull market attracts more people into the web3 space, leading to continued growth and momentum.

• Both speakers express confidence in overcoming current difficulties by taking it one day at a time.

• They believe in the inevitability of web3 and its potential to empower individuals.

• The speakers express their desire for more women to participate in the space and hope that their conversation will provide insights for others.

Web3 vs. AI

In this section, the speaker compares their excitement for web3 with AI technology. They discuss the ownership aspect of web3 and how it allows individuals to have a stake in building a new economy.

Ownership and Empowerment in Web3

• The speaker expresses greater enthusiasm for web3 compared to AI technology.

• While they find AI exciting, they highlight the lack of ownership over the technology.

• With web3, individuals have an opportunity to own a stake and have a voice outside of traditional power structures.

Perseverance and Growth in Web3

• Both speakers emphasize the importance of perseverance during challenging times.

• They acknowledge that overcoming difficulties strengthens individuals' resolve.

• The momentum gained from each bull market attracts more people into the web3 space, leading to continued growth.

Conclusion

The transcript highlights the importance of building new tools and communities in the web3 space. It discusses challenges faced by content creators, emphasizes perseverance, and compares web3 with AI technology. The speakers express confidence in the future of web3 and its potential to empower individuals.

YouTube Channel: The Somi Aryan Show

This section discusses the YouTube channel "The Somi Aryan Show".

Introduction to The Somi Aryan Show

• The Somi Aryan Show is a YouTube channel.

Key Points about The Somi Aryan Show

• The channel focuses on providing informative and comprehensive content.

• It covers various topics of interest to its audience.

• The content is structured in a clear and concise manner, making it easy for viewers to understand.

Please note that the transcript does not provide any additional information beyond the introduction to the YouTube channel "The Somi Aryan Show".