[FREE PDF sample] The future of community: how to leverage web3 technologies to grow your business 1
Visit to download the full and correct content document: https://ebookmass.com/product/the-future-of-community-how-to-leverage-web3-techn ologies-to-grow-your-business-1st-edition-john-kraski/
More products digital (pdf, epub, mobi) instant download maybe you interests ...
The Journey Beyond Fear: Leverage the Three Pillars of Positivity to Build Your Success 1st Edition John Hagel Iii
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or on the web at www.copyright.com.
Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 7486008, or online at http://www.wiley.com/go/permission.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Further, readers should be aware that websites listed in this work may have changed or disappeared between when this work was written and when it is read. Neither the publisher nor authors shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.
Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic formats. For more information about Wiley products, visit our web site at www.wiley.com.
Library of Congress Cataloging-in-Publication Data is Available:
To my mother, Kathleen; my grandmother, Josephine; and my Web3 community
Justin Shenkarow:
To my mother, Rosalie; my dad, Maxwell; and my Web3 community
11 The Future of Community
Foreword
By Charles Adkins
Inthe maze of modern society, a primal yearning exists that transcends time, space, and technological barriers: the pursuit of community. It is the cornerstone of human civilization, a catalyst for meaningful connections, and a crucible for collective growth.
As we stand on the precipice of a new digital era, the concept of community finds itself at an exciting crossroads. Within this context, John Kraski and Justin Shenkarow present The Future of Community, an enlightening exploration of the evolving landscape of communities, both physical and digital.
Through an impressive collection of expert interviews and in-depth research, this book provides a thoughtful roadmap to understand, nurture, and leverage communities in the future. It underlines the convergence of brands and influencers in sculpting the fabric of contemporary and future communities, harnessing the power of technology to create robust, vibrant ecosystems of interconnected individuals.
The notion of community is rapidly transforming, shifting from the confines of geographical boundaries to the limitless expanses of digital space. Yet the essence remains constant: a shared sense of purpose, shared values, and a comforting sense of belonging.
Kraski and Shenkarow adeptly dissect this transition, unraveling the complexities of modern community building while acknowledging the age-old principles that remain at its core. Their insightful work brings to the forefront the crucial role of brands and influencers in community creation, a dynamic symbiosis of identity and influences that shapes communities’ collective consciousness.
A fascinating aspect of The Future of Community is its candid exploration of technology’s impact. In a world interwoven with digital threads, the book uncovers how technology is not merely a tool but an intrinsic part of our evolving communities. It enables shared experiences, propels engagement, and offers a dynamic platform for discourse and collaboration. Simultaneously, it presents a compelling case for digital vigilance and the importance of nurturing authentic human connections within pixels and code.
Kraski and Shenkarow vividly describe brands’ and influencers’ roles within this new frontier. Today, brands and influencers are not just entities for selling products or
x
Foreword
services; they are facilitators of community engagement, custodians of shared values, and architects of collective narratives. The book further outlines strategic insights and practical steps for these stakeholders to genuinely, effectively, and respectfully engage with their communities.
The Future of Community is an engaging discourse, but more than that, it is an urgent call to action. It implores us to think critically about the types of communities we want to build, cultivate, and sustain. It prompts us to question: How can we use technology to foster unity and not division? How can we leverage the influence of brands and influencers for the greater good of our communities? And importantly, how can we ensure that, amidst the digital noise, we keep sight of the quintessential human elements that make a community worth belonging to?
Through a vast array of expert insights, this book underscores the magnitude and urgency of these questions. It features voices from different walks of life, each bringing a unique perspective on community building. The collective wisdom of these diverse voices resonates throughout the book, shining a light on the nuanced and multifaceted nature of the topic. They deepen our understanding, challenge our preconceptions, and push us toward more innovative, inclusive, and sustainable models of community building.
This is a timely and impactful book, with timeless information that will resonate for decades. Their depth of research, clarity of thought, and passion for the subject matter are apparent on every page.
But what truly sets this book apart is the heart that pulses within it. It is a testament to their true and deep
belief in the power of community, a tribute to their commitment to fostering meaningful connections, and a reflection of their dedication to creating a future that honors our shared human spirit.
The Future of Community is a must-read for anyone seeking to navigate the intricate dance of community building in the 21st century and beyond. It presents a compelling vision of a future where technology, brands, and influencers join forces to create vibrant, inclusive, and empowered communities.
It is an essential guide for all—entrepreneurs, leaders, influencers, educators, and, most importantly, community members—offering valuable insights and practical strategies to build, enrich, and future-proof our networks.
The journey of community building is complex, exhilarating, and profoundly rewarding, and one that requires empathy, patience, resilience, and a relentless commitment to fostering unity amidst diversity. The authors offer us a torch to navigate this journey, illuminating the path forward and inspiring us to march toward a future marked by more robust, more resilient, and more connected communities.
At its core, the book reaffirms an eternal truth: despite our differences, despite the barriers of space and time, we yearn for connection, for the sense of belonging that only a community can offer. As I turn the pages of this remarkable book, I am reminded of our shared responsibility to nurture these communities, honor their diversity, cherish their unity, and safeguard their future.
I must express my gratitude and admiration for the authors. I am incredibly honored and humbled by their invitation to pen this foreword. They are dear friends, esteemed colleagues, and, more importantly, they are
stalwarts in the community building space. Their relentless passion and unwavering commitment to advancing community growth and cohesion are genuinely inspiring. In a world that often seems fragmented, their work serves as a beacon, reminding us of the beauty of connection, the strength in unity, and the transformative power of communities. I sincerely believe The Future of Community will inspire and guide many individuals and organizations to contribute constructively and meaningfully toward this endeavor.
As you embark on the journey through this book, I invite you to reflect, learn, and contribute to the conversation on the community’s future. After all, it is a journey we are all a part of, a journey that, in many ways, defines our shared future.
Welcome to The Future of Community
Foreword
Authors’ Note
Justin Shenkarow and John Kraski are co-hosts of the NFT Heat TV show. Each week, they interview top thought leaders in the Web3 space. The show is now on ALTRD.TV, aired in more than 65 million homes worldwide, and is on Apple TV, Amazon, and Roku.
Beginning in the fall of 2023, they will be hosting a new TV show called “The Future of Community,” which will be more topical and humorous in the vein of shows like The Soup, Late with Jimmy Fallon, and Saturday Night Live.
They are considered thought leaders and visionaries in the Web3 space, having founded the Web3 communitybuilding organization Good Morning Web3 (formerly NFT Thought Leaders).
As executives and creators for top Web3 companies worldwide, both are passionate about educating brands and consumers about the world of Web3. More importantly, they love helping brands, and consumers leverage this technology to build strong communities. Realizing they have a unique skill set coaching people, they wanted to do something where they could impact as many people as possible, so they decided to write The Future of Community.
Introduction: What Is the Future of Community?
You’re reading this book because you’re probably trying to figure out what the heck is Web3, the metaverse, all of this crypto-babbling by frat bros, and perhaps how to build the right community. We hear the term “community” all the time, but what does it really mean to build community, and what does it look like moving into the future? How will community affect you, your organization, and your brand?
Well, fortunately, you’ve come to the right place because we’re going to throw down the real truth about Web3. There will be no sprinkles or whipped cream on this version; we’re laying down the hard realities. Most people will babble on and on about community and Web3 but they have no freakin’ clue what they’re talking about. Web3 still has a lot of problems, but those problems create tremendous opportunities. The biggest opportunities revolve around the communities of tomorrow. These communities will be built by harnessing the power of Web3, social media, in real-life events and the metaverse.
We both know what it feels like not to fully understand a new technology like Web3, because we were both outsiders when we first entered the space. Justin thought NFTs stood for Non-Fat Tequila. Three years ago, we had no clue about Web3, blockchain, NFTs, and the metaverse,
and now brands and executives reach out to us for our advice to help navigate this strange new world of Web3. If we hadn’t met at the pool at Soho House back in early 2021, this book would have never come to fruition.
The future of community is more than just the technological promise of Web3 and how it will shape future communities. It’s a promise to change the way things are and how to level the playing field for those of us who have been left out and haven’t been treated fairly. We all know the world is run by the super-rich and powerful, but Web3 changes the game. We are giving the power back to creators who have made all the amazing things we enjoy and love—like music, art, poetry, TV, and movies—and ensuring they are fairly recognized and compensated. Forget the monopolies and conglomerates of major corporations; Web3 levels the playing field so each one of us can build our own brands, build our own communities, and monetize in a brand-new way.
The future of community is an opportunity to embrace a new technology and transform your personal and professional life in ways you never thought imaginable. Both of us have been struggling for many years trying to find our lanes in our personal and professional lives, and Web3 gave us the opportunity to start fresh and reinvent our lives.
In the following chapters, we’re going to guide you through the same process we created to leverage the amazing power of Web3. This power has helped transform communities inside various global organizations. We are also bringing in some of the top voices in Web3 to give their expertise, insights, and advice on how to harness the power of Web3 to create the super-communities of tomorrow. We will provide you with our personal anecdotes and discuss
The Future of Community
the challenges and obstacles we’ve struggled to overcome. You will hopefully see bits and pieces of yourself through our journeys. Take everything you can from this book and use it to transform your life as well as the lives of others around you.
We know you have what it takes to learn about the future of community and we are determined to help you unleash your power. This is a subject matter that will help you crush your career, your own personal brand, and your life. We want you to be the expert on community and Web3 when you’re having dinner parties and sipping cocktails with your friends, family, and within your organizations. Let’s build The Future of Community together. It starts with you.
Introduction: What Is the Future of Community?
Back to the Future
We’re not sure there was a more awesome movie than Back to the Future, starring Michael J. Fox and directed by Robert Zemeckis. This movie was a significant part of both of our childhoods.
For those of you who may not remember, the story concerns 17-year-old Marty McFly, who is accidentally sent back in time from 1985 to 1955, in a time machine built from a DeLorean by the eccentric scientist Emmett “Doc” Brown. Soon after his arrival in 1955, Marty inadvertently prevents his future parents from falling in love, threatening to cause a paradox that would result in Marty ceasing to exist. Without plutonium to power the time machine, Marty must find the 1955 Doc Brown to help him reunite his parents and return to 1985.
Marty’s father, George, is bullied by his supervisor, Biff Tannen, and Marty has to convince George to stand up to Biff. Returning to the future via a lightning strike that powers the machine, Marty discovers a vastly improved situation for the McFly family, who are now all living their dream. George has become an accomplished science fiction author, Marty’s two older siblings have better lives, Marty owns the car of his dreams, and Biff is now an auto detailer.
Similar to the movie, the idea of going back in time and changing the course of our future so we could live out our dream life is the exact thing that attracted so many of us to the world of Web3. It would be the great equalizer and allow so many of us to rewrite our futures. But to go back to the future you first must start in the present.
Growing Up in the Shadows of Tech
Seattle and San Francisco were arguably the two biggest technology hubs in the past 40 years, bringing us the technology giants Microsoft, Amazon, Google, Facebook, and Netflix. We were fortunate enough to grow up in the shadows of these cities and watch these tech giants explode right before our eyes.
John
Growing up in Seattle in the ’90s and early 2000s, I was in the shadows of some of the biggest tech giants in the world, including Microsoft and Amazon. Bill Gates and Paul Allen, the founders of Microsoft, and Jeff Bezos, the founder of Amazon, were hometown heroes for most of us. They were covered daily in the press, and their approach to business and technology shaped how I think about running a successful technology company. And why wouldn’t I? The combined market cap of Amazon and Microsoft, the companies they started, is now over $3.5 trillion. Both of these companies were textbook examples of creating scalable and profitable technology companies. They leveraged emerging technologies to develop easyto-understand products and services that solve significant problems for brands and customers. Early on, I realized
The Future of Community
that technology needs to be simple but powerful to create mass adoption that can transform lives.
Microsoft revolutionized how the world works daily, and Amazon revolutionized how people shop. Web3 companies can utilize emerging technologies to further revolutionize working and shopping for consumers, but so far almost all of them have missed the mark.
Inspired by these great technology giants, I started in the world of public accounting, working for KPMG and PwC. My clients were predominantly technology companies, and I was advising them on the financial and operational aspects of their businesses. Public accounting helped me learn and understand the key drivers of what makes these technology companies successful. It taught me that if you don’t know your books, you don’t know your business. These lessons have formed the basis of how I approach analyzing every business today.
I eventually wanted to expand my knowledge and network, so I got my MBA at the University of Southern California. After graduation, I took a slight career detour and became an executive in the luxury interior design industry for almost a decade, working on projects for the Obama White House, Cindy Crawford, and Harrison Ford, among many others. I loved this experience but I never was truly happy in my career. I was just making enough to get by but hadn’t aligned my superpowers with my career. I was always searching for my dream life.
Justin
Even before thinking about Silicon Valley and technology, I started working at the ripe old age of six and a half. I grew up as a child actor in Los Angeles, working in commercials,
Back to the Future
voice-overs, TV, and film. My parents had a French bakery in a suburb of Los Angeles called Palos Verdes, and as a child, I used to chat with customers and eat copious amounts of chocolate croissants. The customers told my parents that with my wild curly hair and gregarious personality, I should have an agent sending me out on auditions. Flash forward a year, and I had booked my first commercial for the toy company Mattel. During the shoot, Mattel had me wear a flying harness, and I was hoisted into the air, flying around in the commercial. In addition, the advertising company for the commercial had a table set up for the cast and crew known as craft services, and it was filled with yummy candy and snacks. I was in hog heaven, flying around and eating unlimited amounts of candy.
After the Mattel shoot, I was fortunate to work consistently. Some of my favorite projects over the years were playing characters on the TV series Picket Fences and Eerie, Indiana and voicing the character Harold on the cartoon Hey Arnold! My parents were always focused on my education, so instead of attending teenage Hollywood parties, I was at home doing my calculus homework and writing English papers. Fortuitously, it set me up to get into Stanford.
I was in the heart of Silicon Valley, and attending Stanford University during the internet boom was thrilling. Many of my friends were dropping out of college as firstand second-year students to start their own companies, and they were raising millions from Venture Capitalists. The campus was buzzing, and after most classes we would gather around the quad or the coffee shop CoHo and spitball startup ideas. I wasn’t a computer science developer; my major was American Studies, which is an excellent
The Future of Community
degree for flipping burgers. I could taste the millions of dollars my friends appeared to be making, and I wanted in!
I had an idea. I wanted to work for a startup company but wasn’t sure how. I decided to stand on the sidewalk of El Camino, one of the busiest highways just outside of Stanford’s campus, and wear a sign around my neck that read “Will Work for Options.” It worked! I got two gigs immediately and started interning for two separate startups. One was called SchoolPop.com, and the other was InternNetwork.com. I worked at SchoolPop’s HQ doing admin work. It sucked, but I was earning options. InternNetwork flew me to Las Vegas to work at trade shows. I was in Vegas for weekends, which was incredible, and I was earning options. Granted, I didn’t really know what options were, but I knew I wanted them because that’s how people got rich in tech, or at least that’s what I thought. I quickly learned that if the company you work for gets bought out or goes IPO, you can become rich, but if it fails, your options are worth zilch.
I was hustling, taking 18 credits, worth of classes, and working at two startups, thinking I’d be rich by the time I could drink. About nine months into my internships, the dot-com bubble went dot-bomb, and the stock market crashed. It was 2001, and most startups, including those I worked at, went under. It was debilitating and depressing. I finished my studies and returned to Los Angeles to work in the entertainment industry. My quest for quick tech riches was over. I abandoned Silicon Valley and left with a poor taste in my mouth. In retrospect, I think I should have stayed up in the Bay area and stuck it out with startups. I enjoyed the entrepreneurial nature of the exciting culture that fosters startups. Furthermore, my freshman roommate
Back to the Future
went on to work at Google, and the guy directly across the hall from our freshman dorm has worked at Google since 2002. Financially, they’ve crushed it. Following my passion is cool, but if I had built a strong community in Silicon Valley right out of college and persevered in tech in those early years, I’d most likely own a few islands in Tahiti and be sipping tequila sunrises all day.
Tequila and Time Machines
As we all know, drinking and driving time machines don’t mix. We’re going to be talking a fair amount about NFTs and Web3 in this book, so let’s dive into their meanings. Initially I thought NFT stood for nonfat tequila, but it actually stands for non-fungible token, and it’s a digital item validated on the blockchain that certifies ownership and authenticity. This means that each item is one of a kind. It can’t be duplicated or replicated. Imagine you have a digital photo of a cute black-and-white cat named Kirby on your phone. When you text a photo of Kirby to your friends, they can make a copy of him, and have the same picture as you. But with an NFT, it’s different. When you have an NFT of Kirby, it means that you have the original and special version of that photo. So even if your friends have copies of Kirby, yours is the special and valuable one because it’s the original. And because it’s so unique and special, you can hold onto it, trade it, or even sell it and keep the proceeds. Kirby would be thrilled, hopeful that you’ll reward him with cat toys, balls of string, and delicious tuna fish as you make money off of his NFT. Pour yourself a good añejo tequila as we discuss Web3. I prefer one big rock and a nice tumbler glass. If you’re not
The Future of Community
a drinker, still or sparkling water is always a great option as well. Web3 is the next generation of the internet that gives power to the people. Instead of the big tech companies owning everything online, in Web3, we own everything. It’s pretty radical. As we discussed above with Kirby the cat, NFTs are one component of Web3. Web3 also encompasses the metaverse, smart contracts, blockchain, community, token gating, DAOs (decentralized autonomous organizations), decentralization, and other facets of digital identity. Let’s put those terms in a little storage chest under the bed, and we’ll bring them out when we discuss them later. What’s important to know right out of the gate is that Web3 keeps everything secure. Now that you’re armed with some ideas about NFTs and Web3, you’re ready to hop in the DeLorean with us and head back to the future.
Firing Up the DeLorean
Justin and I both struggled to find our dream lives, and we needed Doc Brown to fire up the DeLorean and send us back to the future. But how would that happen?
John
Working in entertainment has been my dream ever since I was a kid. I remember the first day we got cable TV. It was probably one of the most exciting days of my life. The channel I immediately gravitated toward was TBS, which showed all the old classic comedies. I remember waking up at 4 a.m. every morning so I could watch I Dream of Jeannie, Leave It to Beaver, I Love Lucy, and many more. I quickly became a student of great comedies and honestly couldn’t get enough of them. I would then spend the next
Back to the Future
40 years consuming more great comedies like Friends, Seinfeld, and Sex and the City. I also fell in love with great comedic talk shows like The Tonight Show, The Late Show with David Letterman, The Arsenio Hall Show, and many more. Comedy became my passion, but unfortunately not my profession.
I was the ultimate late bloomer. High school was a big blur and I really didn’t enjoy it. I almost became an airline pilot after high school because I loved to travel, but I got cold feet at the last second. I needed to come up with a plan B. However, I hadn’t fully thought out my next steps beyond the idea of becoming an airline pilot, and I didn’t apply to four-year universities.
I decided to go to community college for the next two years to figure it out. After successfully getting my AA degree, I eventually ended up going to business school at Seattle University, because it was the more practical path to getting a job. Initially, I was a marketing major, but was convinced by a mentor that I had to get my accounting degree since I was a logical thinker. I ended up getting an accounting degree from Seattle University and started on a career in public accounting.
I remember the first day I started in accounting, working for KPMG in San Francisco, auditing the accounts payable of a heart scanner manufacturer. I sat there completely dejected and thought there was no way this could be the rest of my life. I knew there had to be something more for me in this world. I felt so out of place in this world of accounting. Even though it was a good experience and looked good on a resume, it was a terrible fit for my personality. I had this crazy entrepreneurial side of me waiting to burst out. However, other than taking some art and
