Founder of YellowHeart Josh Katz

Hi, my name is San Tito. This is CryptoKid Podcast. I'm going to be talking to you guys about blockchain technology and cryptocurrency. Welcome to CryptoKid Podcast. Today I have a special guest, Josh from Yellowheart. He's been in Rolling Stone. And welcome, Josh. Thank you for coming on the show. And why don't you tell us how you got an NFT in the crypto space? Yeah, absolutely. So

great to be here. Thanks for having me on Big Fan. And it really started back in 15, 16 introduction to Bitcoin, Ethereum, and understanding the power of what a smart contract could do instantly sweat me in on an interest level. I had been involved doing music. I had a business that was doing subscription music services for businesses. And had thought about just how this wonderful technology

could apply to various aspects of the entertainment business. And it really became a fascination of mine. Awesome, amazing. So is that around the time when you released your first crypto, our mean your NFT and album? No, it was years later, because I went on a, you know, really on a, I just wanted to appreciate to build a NFT platform to serve as up musicians, you know,

to basically mint and sell their own assets or their own really not their own assets, but their own music, their own tickets, their own build their own communities, manage their own communities. You know, do all the wonderful things that, you know, Web 3 technology could afford, you know, as it as it started to be developed infrastructure wise. Okay. Okay. Now I understand you're working with some

big name artists. Can you share some and how you collaborated with them? Yeah. I mean, we've, you know, we've done stuff with great, great artists like the great XXX to Tassioan, Marine 5, Geri Garcia, Brandi Carlyle, and then other, you know, so many G-Love disco biscuits, you know, just a popery of fantastic, you know, talent and artist in artistry. You met XXX Tassioan? We did an

NFT mint of X is, you know, various assets, photos, videos of him live, other things. Yeah. So we had an entire X drop in May of 21. That's, that's awesome. I'm a huge fan, by the way. Yeah. Those NFTs, by the way, are insane because it was a free, it was a free mint for 30, for a week. It was a different piece every 24 hours,

either a video or art. And the art correspond to the tracks off of his early soundcloud releases. So this was a pretty early drop and, you know, perspective of music and NFTs. And people that were real fans of X, of course, followed it. The family wanted to give back through the technology so they offered up this stuff for free. A piece of day, if you look

back on it, you know, at Yellowheart and pretty awesome stuff. It's one that I think went a little below the radar, but it was one of the coolest early music drops. Wow. Wow. I'm at all right now. So how does yellow card, how does yellow heart take away the biggest problem with traditional tickets today? Well, you know, I don't want to call anything a problem. I

want to just say that what we're trying to do is just evolve. And, you know, matriculate a technology, something that, you know, if you look at ticketing historically, it's been, you know, a fairly boring sector in Async, you know, it's a receipt. Here's like, you know, a barcode to walk in a door, you know, and thank you. And, you know, that's it. Where the reality though

is that these are fans when they have the most retention. When they're at a point of, you know, being into something, their team, their concert, their seeing, their experience, and, you know, fandom is something that we all want to have in life. You know, we go out to see live music and sports and tie it back to like how we like follow our teams and all

of that. You want it kind of all in one spot and the ability to really use your connection to fandom to reward you as a fan and, you know, give you a direct relationship with the artist and give them the artist and direct relationship with you. So. All right. What can help fans is sure that they won't pay insanely high prices or miss out on the

next event? Well, that's not at this point anything to do with us, you know, I mean, high prices for tickets, you mean? Well, like, how I say, I'm not sure if I'm going to be able to do that. Like with the with the gas fees, does that make sense? The gas fees and ecosystem and things that are going on? Oh, sure. Well, you know, we're, we're

gassless. We're on the polygon network. And, you know, if we take it's right now and as a company, we just cover gas. Okay. Okay. So you have pretty good scalability going on there. You do. Yeah. All right. How does your tickets ensure to get our, how do you do that? How do you take it insurers get a cut of secondary sales? So the way that the

blockchain works is you deploy something called a smart contract. And in that smart contract, you could program rules that say if a ticket sells for a 100 and someone resells it for 200. And you could give me 50% of that lift and send 50 to this wall of address. And you could pre deploy the contracts that way. So that's how that really works where you could

disincentivize scalping or you could participate in any upside. If you miss price, the product, you know, and there's higher demand than you want instead of a third party getting the upside. All of the stakeholders who are pre program could share in that upside. So it opens up a whole new realm. Possibilities around that, which is very, very exciting. The only, you know, thing that has to

be discussed around that is also what's holding force. So when you have royalties that need to come back to stakeholders, the contracts have to just be agreed by the people selling. So it's programmed into their marketplace that okay, if that gets sold again in my secondary marketplace. I agreed to whatever that contract says and I'll send it back. So this is a force ability. And so

it's all developing right now, which is pretty awesome as an ecosystem. Are people going to be able to sell their tickets if they don't, if they don't want it anymore, or if they're not able to attend the event. Well, the goal will be for that to be up to the seller to decide all of the rules on how those tickets could trade and have it cleared

of the fan buying it that hey. Take your buying is you. You're not resellable or resellable to only another fan or resellable for as much as we could get for market, but like, you know, X percentage is going back to the artists as part of their, you know, participation in their ticket, you know. Okay, thanks for clarifying that. How are NFTs going to bring real world

value. Well, it's just a new, it's a new class of a collectible. There's utility NFT, which will power things like tickets, power things like legal contracts and records and all types of other things with a live as programmable files. But then there's also. So many just different applications that are going to start to move this direction. Now the NFT tickets you're working with the maneuvers on

this. And you're working with the people to attend concerts through the maneuvers. Are you are you a little bit concerned about like how it's going to affect the human psyche and them get lose in touch with reality. Well, you know, I think once again, just the technology creating another area, you know, you know, as a people we evolved you and I are in the metaverse right

now. You know, I see, you know, the younger Colt. They're the culture of kids who are living and they're socializing in fortnight in roadblocks. So they're already in the metaverse, so to speak. On their downtime. It's not like, you know, your parents generation where they were like watching the television show and what's on cable TV. Now people are just like, you know, up to their own

tiktok scrolling. So it's a whole different, you know, thing right now. So. Yeah, it's very ticking. It's very ticking. I think it's really good. Sure, I could be on tiktok. I had to watch myself when I did on tiktok. And it's just like, you know, like, you know, your parents have like 100 channels. You have like. So think about it. You know, that's right. That's right.

Now, do you think and if T. Go ahead. Kavi Adam. Sorry. But just the kind of caveat it. Of course, live music. Are you kidding me? Like, yeah, yeah, you can't replace that. You know, the feeling you get with the whole experience the best ever. I agree. I agree. Now, do you think this type of technology should be regulated? Um, you know, of course. Yeah. You

need real regulation around it. Um, you need regulation that, you know, really addresses all the financial aspects of it and the legal aspects of it. And for technology to evolve, there needs to be regulation in place. The way the realities of the way the world works today. Um, and the structure for making things be have the scalability is that you need it to work, you know,

with existing infrastructure and just, you know, I don't think digital currency could just overtake fiat currency. I think there needs to be integration. Okay. I'm from regulation. So I mean, listen, you know, of course, at heart, you know, you know, people I know are purest to, you know, to the, to that. That world of decentralization and all of that. But the blockchain is traceable and the

technologies evolving now and, you know, it's getting mainstream adoption so quickly. And the realities of that are, you know, bridging it to existing, you know, businesses. Do you think the bear market kind of affected the way the technology is going? Like people seem kind of turned off by how volatile it is. Yeah. Yeah. Um, I have to say that, you know, recent events have not helped

the industry's image. Um, so, um, we'll see what happens from all of that. You know, it's just a play by play thing. But it's, um, yeah, it hasn't helped. Okay. Okay. Now what's your target audience? So we're just trying to work with great artists and great venues. Uh, you know, I'm not sure if you're going to be able to do that. Yeah. Uh, I'm not sure

if you're going to be able to do that. Um, we're just trying to work with teams to just, you know, deliver a really great customer experience. So that's really our demographic or people that want to, you know, move things. Their fanbase digital and be able to have, you know, that symbiotic relationship. All right. What's the next big narrative you're looking forward to in the future of

NFTs? Um, um, you know, utility right now is what it's all about. And that just means, you know, having a fire in the future. And also having a smell that when you program it actually does something. It's not just a JPEG, where people have been like that's what NFTs became for the last year year and a half is JPEGs and a lot of great artists were

born out of that movement for sure, you know, a lot of non grade art was consumed. But overall, you know, positive. But, you database driven and financial institutions and so many sectors to really enhance. But it needs to, in often cases, I'm seeing be tied back to Web 2 a lot just to kind of create a bridge. Now, the locality, are you guys just based in

the United States? Are you venturing out to other places like Singapore or South Korea, for example? Yep. Yep. So yes, we do have someone in Singapore works for us, someone in Lisbon. So, but we're trying to, you know, really have our product be worldwide, of course. I believe you can. And I hope it does happen. If subs, if, oh, okay. So where are the pros and

pros. Cons are at this time really transparency into like who is buying and selling. So if there were people who were involved in the event who image wise didn't want to be known that they were the one selling on other marketplaces. And when people perceive as prime users, they're like, you know, you know, you know, you know, that's a very, that's something like that could come

out and be exposed. You'll have the transparency of who is buying and selling true supply and demand will happen, you know, where you just really, really have like true supply and demand across the entire ticket marketplace. We're right now. It's pretty fragmented, you know, where like a ticket could be sold for unmultiple secondaries or listed, you know, and tiered pricing, just to like that person knowing

that they'll just take the lowest one. So it's a very important thing to be able to do. It's interesting to see how this will get adopted and potentially just shift that. What is the toughest thing that you and your team has faced and how have you encouraged them to keep pushing on and not not get disencouraged? You know, it's been oftentimes where we'll spend a lot

of time with a brand, a team, you know, an artist. And you know, you know, a lot of zooms get into projects, go deep on them. And, you know, the project actually not fully materializing. And it could often be because of, you know, the changing market that's been shifting so rapidly all over the place for suddenly, you know, different times last year, the overall market was

so bullish that like everyone's trying to like get something in NFT made. And you know, we put TLC into our projects and our partnerships. So like we want them to really be done properly, you know. So that's been an interesting challenge, you know, is getting people to kind of move along, quick, our into the space. All right. So as we come to a close, is there

anything you want to share to my fans or anybody that's listening, any big news that's about to drop events about to happen. And that they should be looking out for. Yeah, I'll just, yeah, I'll just, I'll just say and think that like, you know, you know, really last year, kind of memorialize that Miami during the week of Miami art week, where you have our puzzle, you

have scope, you have art, my, my, my, you have all of that suddenly exploded with NFTs, which was awesome because out of the whole NFT movement, there's also been like, you know, so many. Incredible artists like like fallacious and you know, of course, people and others who have, you know, blossomed out of the that that movement. And now that art is mixed in with like, you

know, traditional like, you know, physical art. And in some cases, matched and other stuff. So we're doing ticketing for scope, you know, during Miami art week and also for decentralized. So it's almost like, you know, funny how there's like an NFT conference kind of suddenly making stand with like the art world. And it's actually a pretty awesome match of people. It's just, you know, I'll be

there for decentralized. I hope to see you there. And if you have any links for me to put down in description, I'll be more than happy to and we'll get people linked up. Awesome. I also, this is great. Well, thank you so much. All right, man, I wish you the best with your endeavors. Have a good day. Hi. See. Did you know that podcasts are a

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