September 25, 2024 • 40 mins
The restaurant industry is exploring Web3 technologies like blockchain and digital collectibles, as discussed on the "Rock My Restaurant" podcast. Beezie's platform for digital twins of physical collectibles was highlighted, along with the potential for blockchain in loyalty programs, marketing, and e-commerce. While adoption is still in early stages, there's growing interest among restaurant brands in leveraging Web3 for brand extension, community building, and unique digital experiences. Education and focus on tangible benefits are key to driving adoption in the industry.
#Web3Restaurants #BlockchainLoyalty #DigitalCollectibles
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#Web3Restaurants #BlockchainLoyalty #DigitalCollectibles
🫶 Subscribe NOW - Unlock a world of knowledge, innovation, and growth from the largest podcast network in food service! - https://savorfm.substack.com/
📈 Learn More ~ Restaurant Power Index featuring the top 50 brands' performance in consumer sentiment based on 12 performance markers in food, service, and overall brand consumer sentiment. The RPI features historical and current sentiment analysis for key brands based on the overall market sentiment data. Subscribe for weekly reports on the top brands in the restaurant industry. https://www.savor.fm/restaurant-power-index
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Turn of the volume and subscribe now to Rock My Restaurant,
the podcast setting your brand on fire for you, come
into you live every week branding, marketing, innovative tech, don't
get left behind. The future is now.
Speaker 2 (00:21):
Welcome back to another episode of Rock My Restaurant. My
name is Paul Baron, and of course joining me as
my co host, Miss Shelley Rupel Shelley, how are you great?
Speaker 3 (00:31):
Paul? Excited about this episode?
Speaker 2 (00:33):
Ready to go? Yeah, listen, A lot of them happening,
And we just came back from a big event. Prosper
was really good, a lot of people there. We had
a chance to shoot a couple shows, so we'll have
those airing here on Rock My Restaurant soon, so you
guys will get a chance to see all that. And
what was interesting to me is the event itself. There
(00:54):
was a lot of operators there. I was surprised at
how busy it was. So that's and kind of a
little bit of a light in the in the industry
right now.
Speaker 3 (01:05):
I you know, I was able to see it online.
We weren't able to go this year, but you know,
last year, I was amazed at the quality of operators
and QSR evolution happened this week. I was shocked at
the turnout they had directly after Labor Day weekend, right,
so it seems as though everyone's out and about and
(01:28):
hitting the ball conference circuit.
Speaker 2 (01:31):
Well, the cool part is is that the operators are
looking for ideas and I think that's you know, obviously
what we do here on Rock my restaurant. What can
you tell me about what's happening at Devour anything new?
Speaker 3 (01:44):
We've had a very busy summer, so a lot of
product releases for us, and most excitingly, we've recently released
our imbedible ordering as well as our partner portals.
Speaker 2 (01:55):
So how does the ambedible ordering work?
Speaker 3 (01:58):
So we have built basically taking our very complex marketplace
technology and made that dropable into in gaming APIs available,
so as we partner with gaming publishers creators, they can
just if they want to make food ordering or rewarding
available directly in their game, we can drop it right
(02:22):
in to their environment and make that available for gamers
while they're gaming.
Speaker 2 (02:28):
You know, we had a session that at the event
where we spoke on this very issue of collectibles NFTs
in general, but also the gaming integration and the value
that web three is bringing and it was one of
the most popular sessions of the entire event. We had
Andre on from Doghouse and then Jeff of course from
(02:51):
web how so, I mean, those are the guys that
kind of know what's up when it comes to this.
But I was amazed at how many people were in
the room. Nobody left. Was crazy.
Speaker 3 (03:01):
That's that's exciting, and that's you know, Doghouse. We've got
a collaboration with them upcoming. Dave's Hot Chicken, you know,
is excited in some things that we're doing with them,
with a Web three game, wag me games, you know,
that ability to power yes, yeah.
Speaker 2 (03:20):
And then is it Scott is that his part?
Speaker 3 (03:23):
Yes, yeah, so great, great team. I'm really excited about
the opportunities. They're very very open to the collaborations and
then our ability to bring in restaurant brands for that.
I think they've already visited a couple of Dave's Hot
Chicken locations. You know, they're they're they're getting excited about it.
And then the tech and what we can we should bring.
Speaker 2 (03:46):
Them on the show. We should get them on the show.
Speaker 3 (03:48):
They would be they would be wonderful.
Speaker 2 (03:50):
I think Ian and Scott. I think we've had Scott
or is it Ion? Yes?
Speaker 3 (03:56):
I had to ask him as well on that, so
it's Ion.
Speaker 2 (04:00):
Well, listen, we've got another founder of another Web three
startup out there that's coming on the show today and
we're going to be talking about really kind of blockchain
and dining and the future of digital collectibles with restaurants specifically,
and it's going to be a good one. I think
you guys will love it. It's with Andrea Mila, which
is and has been in the Web three industry. I
(04:23):
call it an industry, but it's has it been around
that long and her bio had ten years ago. I
was trying to think, wow, this is I feel like
we're old school now here when it comes to web three.
But she's going to give us a rundown on what
she's been doing with a company out there called Beezy
and a project that she is launching. So let's just
(04:43):
bring her in to the show. Welcome Andrea. How are you?
Speaker 4 (04:49):
Thank you? Hi, Shelly, I Paul, I'm happy to be here.
Speaker 2 (04:52):
Thanksving Listen, we get a chance to talk to a
lot of Web three people, game companies, NFT artists, people
who are building IP for brands and it's great to
have you on. So I was looking and had a
chance to really kind of review over the last week
a little bit more about what you're doing, and I
(05:13):
want to kind of just leap off the front end
for many of our operators. Could you have to think
about restaurant operators here may not necessarily be tuned into
this perfectly, but give us a rundown on what BESY
is and how this could be used in a retail setting.
Speaker 5 (05:30):
Sure, it's a great question, and I always I link
it back to build something that your children or your
parents can understand, and I think that's really what we've
done with Beesy and collectibles. We take blockchain, which can
obviously be a somewhat complex technology, and we simply we
simplify it by really leaning into the benefits but not
(05:53):
making our consumers or our users have to dig too
deep in a tech perspective, Basically, we are a platform,
a marketplace that takes a physical collectible and creates a
digital twin.
Speaker 4 (06:06):
All of these physical collectibles.
Speaker 5 (06:08):
Are stored in our vault partner, which is breaks you know,
brings as a massive web to brand, a leader in
security and logistics, and really it opens you up to
a a global market, be the liquidity that we know
is here in crypto and solve some real problems in
(06:28):
a very antiquated system, which is the resale of collectibles.
Speaker 2 (06:32):
Yeah. So you have brands out there that are obviously
have brand IP. This is something that we're seeing more
and more now where brands are trying to transform, whether
it's merge or you know, maybe they've build certain elements
around character collectibles or card collectibles, et cetera. Most of
that has been in the gaming community and or in
(06:54):
some retail categories for culture, but if you look at
the food service space and the rest on industry, we're
starting to see them understand what digital can be for
kind of extending that IP of the brand itself. Are
you guys finding brands that are trying to actually come
in and develop something that would kind of work in
(07:18):
this area much like what you guys are doing from
a digital twin standpoint.
Speaker 5 (07:22):
Yeah, I mean I think we're just scratching the surface
for sure. I mean there's always that really interesting brand
overlap that you're seeing. I think, you know, most recently,
McDonald's put out those collectible cups that people in our
community were already talking about right away because they leaned
into that nostalgia. Now, if there was a digital component
(07:45):
to it, I think it would be that much more interesting.
Speaker 4 (07:48):
But yeah, I mean it's a perfect match truly.
Speaker 2 (07:54):
Well, I think the extension of brand is now when
you look at the restaurant brands that are out there,
especially TI Unit, it's definitely going in and expanding quite
a bit. Shelley, I know you're you're working with a
lot of restaurant brands. Have you have you heard them
talk about this idea of extending the IP out.
Speaker 3 (08:14):
You know, We've had a number of conversations, whether it's
companies on the side that helps brands with their IP
and extending that out, how they can license that in
different places. I think, again, like a lot of things
with the restaurant industry, it's very early on. I've used
the word curiosity a number of times and a few
(08:34):
of the sessions and that curious about it. They do
IP licensing already, how that can then become digital is
still very early on.
Speaker 2 (08:43):
Yeah, I think this is the key from from a
partner standpoint, and especially from I think the exploration of
brands trying to come into this space, Andrea, when you
when you guys are working with people, what are you
finding right now that do they understand this Web three
(09:04):
part of it? Are you do you have to kind
of dumb it down? I know that's something that at Devour,
you know you have to do all the time. How
are you guys seeing that in terms of just how
people are kind of getting what you're doing.
Speaker 4 (09:15):
Yeah, I mean our MVP was launched here in Web three,
so obviously we had really tech forward early consumers, but
the platforms truly being built for Web two resellers of collectibles,
and those people are coming in and they're not cryptonative.
Speaker 5 (09:30):
And you know, our story, our selling point and the
way we begin these conversations is not we're a blockchain
crypto company. It's here are the problems that we're we're solving.
Here are the benefits of working with us. Oh and
by the way, we can do all of this because
we have blockchain rails. So again you're not diving too
(09:51):
deep into the tech and you don't have to. We
you know, as a team, we talk a lot like
when you go to someone's house and you say, hey,
what's the Wi Fi password? I don't care Horizon or Comcast.
It doesn't matter to me, right, That's really what you
know blockchain will be in the future.
Speaker 2 (10:06):
Yeah, kind of ubiguous to what's happening in the world
of tech, I think is the key here. And eventually
it's going to get into a point and you know,
Shelley and I talk about this all the time, is
that at some point people are just going to call
it ordering, you know, just you know, whether it's food oring,
doesn't matter if it's on blockchain rails or if it's
on some other system that's out there for kind of
the future of this. The idea though for you guys,
(10:29):
because I know Beezy was was previously called colony, Is
that right?
Speaker 4 (10:33):
Yeah? The colony?
Speaker 2 (10:34):
What was the transition there? What was the concept?
Speaker 5 (10:38):
I mean, listen to rebrand's never easy, but you know,
we have a really long term vision for this company,
and we were limited by what we could acquire with
trademarks with the word colony.
Speaker 4 (10:50):
So it was a really simple decision for us.
Speaker 5 (10:52):
We wanted to create a brand that was uniquely ours and.
Speaker 4 (10:57):
That's what we landed on with Beez.
Speaker 5 (10:59):
I think we actually hit that really well, but we
couldn't do that with colony. So, you know, the inception
of colony and the idea behind it is still all
there and rings true for BESY, but beas allows us
to have a much longer term play.
Speaker 2 (11:17):
So with the product or, I guess the concept that
you guys are bringing. You know, we've been doing coverage
on projects out there like TYB. I don't know if
you've been watching what they're doing, but they're essentially allowing
celebrities and brands to kind of come in and create
these these social marketplaces that end up having a blockchain component,
(11:40):
and there's everything from loyalty tokens, all that kind of thing.
How would a restaurant or a retail or any kind
of brand for that matter be able to engage in
something like what you guys are doing here. Would they
have to have a collectible series to engage or could
they create something brand new and use it as a
(12:01):
collectible launch for what you guys are doing?
Speaker 5 (12:04):
Yeah, I mean, certainly bigger brands, right if they're putting
out these collector items. It's an interesting conversation, but that's
you know, a much more established. The hope is that
you're building something that some of the smaller restaurants popping
up can utilize as well. I don't know if it's
specific to us, but I do think there's a world
(12:25):
where some of these social platforms can really bring in
the restaurant industry. I think it's very interesting conceptually when
you look at, you know, potentially token gating a community
around a brand or an influencer. There's real power in that,
and that's certainly a conversation that is worth continuing to
(12:46):
explore and evolve as the technology evolves.
Speaker 2 (12:49):
Truly, this is something that we've been talking about, I know,
on some of our other podcasts, and I think you
know right now, Shelley, I know you guys have been
able to achieve. This is this very large fan base
in for Devour that has, uh, there's just a community.
I mean I'm in the you know, in the Telegram
(13:11):
group and the Discord group, and I see that engagement
and I don't necessarily see that as much in the
retail brand space. And I'm kind of curious for and
this is kind of for both of you. Andrea will
start with you. Have you have you seen a way
that whether it's a retail company, it's a brand of
(13:34):
some sort that's trying to launch how do you get
started in building that community, I mean really building that
kind of that connection element because this is this is
different than social media.
Speaker 5 (13:44):
Yeah no, I mean we're a platform that has been
built specifically for resellers of collectibles that have built communities
around their individual brand. So I think we have pretty
unique perspective there. And I am a firm believer that
it's brick by brick. It is not built in a day.
It's about showing up with consistency, whether you're a bigger brand,
(14:07):
a mid sized brand, an individual that's just looking to.
Speaker 4 (14:10):
Get out there and creating compelling and engaging content that
has meaning. Right, it seems so fundamental.
Speaker 5 (14:19):
But you know, in this space, like you talked about
a little earlier, I've been in this space in cryptos
in twenty sixteen and have been here for the last
few cycles. There's a lot of stuff that's come up
that's not organic and it's very artificial.
Speaker 2 (14:32):
Yeah, you can tell fash.
Speaker 5 (14:33):
In the pan and it will not last. So when
we're talking about these brands, it's really doing it the
right way.
Speaker 1 (14:39):
Yeah.
Speaker 2 (14:40):
We've had a chance to talk to quite a few
that have been very successful. One of the coffee brands.
That is we're watching closely as Raposa, which has been
able to do this. They have a collectible component, but
they have a figital so there's the digital twin component
of the coffee itself and it's like a provenance for
you know, the itself. So I could see that this
(15:02):
really plays into where the future of branding could go.
And back to the point we were getting at Shelling
building these communities, especially in these social platforms, when you
start to kind of initiate a new area to where
literally your your fans would follow you anywhere, you know,
whether it's a closed ecosystem, it's living on you know,
(15:24):
one of these decentralized platforms like a forecast or something
of that nature. What have you guys done to get
I mean, because you have a massive audience over there,
I was surprised to how big it is. Ho have
you guys done that's drawing them in?
Speaker 3 (15:39):
You know, and compared to other communities I consider as
a small but mighty community. I think similar for all
three of us coming from the web Web two world
into Web three. The idea of a digital community in
that way on top of the company that you're building
is new and different, right, you said it's different than
social media, and it definitely is. All of a sudden,
(16:01):
you have a group that you're needing to connect with
and communicate with on a daily basis. Keep they they're
excited about what you're doing and building. But it's very
different than just starting a company that you would typically
do running your company trying to grow it. You are
also growing and nurturing the relationships with the community. For us,
(16:21):
we're unique as well in that we're wanting to power
things for other people. So it's we we eventually want
this to be less about our brand and more about
just what we are powering for our strategic partners, games, brands, prgets,
and that's a tough thing to straddle.
Speaker 2 (16:38):
Well, and it's you know, it's the platform, you know,
model that you know eventually starts to allow others to
kind of excel, which I think is what Beasy is
is doing here. Okay, so on this when you look
at that kind of concept, you build a community. Yes,
there's there's a tool set here for you guys. In
(16:59):
terms of the digital I guess many people will maybe
not know that term exactly, but it's a physical digital
component that you're taking a physical item, tokenizing it in
some format or digitizing it in a way that it becomes,
you know, capable to be used in other you know
systems like what a Web three you know, potential opportunity
(17:21):
would be. How are you guys drawing in those collectors'
communities to where they come on too bezy and start
using using it in that way?
Speaker 5 (17:32):
Yeah, a lot of it is word of mouth right now.
We actually haven't spent a single dollar on Web two
marketing yet we've really focused here in Web three and
I think, you know, I've got to give my team credit.
The people on our team have really deep roots in
their own specific pieces of the vertical itself. We've got,
you know, some og sneaker heads that we're chasing Supreme
(17:54):
in its earlier days. And then we have people that
you know, can tell you every single thing about any
Pokemon card you put in.
Speaker 4 (18:02):
Some of them basically bring their own networks right.
Speaker 5 (18:06):
And then it's it's the resellers that we do come
on trying to give them a insight into this early
piece of the build, because I think that's really compelling
and interesting when you can take a partner and say
I'm going to be vulnerable because I want your ideas.
I want you to tell us how this can be better,
and we want to build together and that has been
(18:29):
pretty successful for us.
Speaker 2 (18:31):
What is the process that someone would go through to
be in, you know, on the platform engaged with you guys.
Step one for me, if I've got a collectible.
Speaker 5 (18:41):
Series, So if you're a reseller, you mean, yeah, yeah,
So we have some vaulting forms and forms on the
website that they fill out if they want to submit
their physicals into our vault.
Speaker 4 (18:52):
It's pretty straightforward.
Speaker 5 (18:53):
And then we have a specific application for resellers, which
you know, really asks a bit about their business, what
their focus is, you know, their community itself.
Speaker 4 (19:04):
It's pretty you know, it's pretty straightforward.
Speaker 2 (19:06):
So think about locations and location based digital collectibles and
I'm thinking, you know, whether it's Wilbow, Chipotle or whatever,
there's many. I mean, Chipotle has kind of already stepped
into this area in the gaming side of they work
with tech and eight. We've seen some other projects that
they've started to integrate into. So the brands are picking
(19:28):
up on this use case. When you look at loyalty
based especially on a potential for location based usage of
digital collectibles. Have you seen anything to that level yet?
Speaker 5 (19:40):
Not in you know, our space in terms of like
physical collectibles. But I think you know, obviously we've seen
really interesting plays with po ops. Okay, I think you
know these incentive campaigns that we know so well in
Web three, If you think about applying those two resturants,
becomes incredibly interesting.
Speaker 2 (20:02):
You talk about like air drops and things.
Speaker 5 (20:04):
Yeah, just you know, you take like a standard web
to you know, loyalty campaign and you put it on
chain and the incentives are a bit more compelling and interesting.
Speaker 4 (20:16):
You know, if you're going to to.
Speaker 5 (20:18):
Draw a parallel to collectibles, we always say receipts matter, right,
So if I am buying a pair of Jordan's from
a super well known collector that actually originated that item
on chain and we're ten sales in and I can
kind of trace it and see its history, right, interesting
if you look at that with like restaurants. You know,
if you're one of the earliest users or the earliest
(20:40):
I should say consumers of restaurant X before it exploded,
and you have that poll op where you joined incredibly
early in their loyalty system and then they blow up,
that's a really interesting point to talk about and.
Speaker 2 (20:53):
To reward well. And I think the point you're getting
at is that it creates this loyalty mechanism that we
not have not necessarily seen completely expand yet in the
Web two world. And I think the Web three component
is already showing, you know, the potential for it, even
though it's a small emerging market that is starting to
(21:14):
really gain some traction globally. It'll be I think it's
going to be a good case study to watch, especially,
I mean because Nike is probably the one. I think
that is the case study to watch because of what
they've done with Artifact and you know, taking a physical
and creating a digital twin and really doing a good
job with it and then building a community around it,
which is really cool, Shelley. So when you look at
(21:37):
that and you think about I'm thinking about wag me,
I know they're trying to go in this direction with
gaming NFTs and things of that nature. Do you see
the potential here for game companies to start to do
something like this from a strategy standpoint.
Speaker 3 (21:53):
For sure? I mean it's applicable across a number of industries,
right and especially when you start looking at digital twins.
That's something roadblocks, you know, from a gaming perspective, the
digital twins of what lives on the platform and in
an actual physical component to that. So whether it's restaurant brands, gaming,
(22:13):
you know, the the use cases for this across the
board and into Andrea's point, you know, the compelling nature
of holding something and then what happens thereafter, or the
rewards and things that are possible just aren't typically and
haven't been in the Web two marketing or you know,
(22:34):
in that world.
Speaker 2 (22:35):
Yeah, well, and I think the point is this opens
up a whole new area of how companies will go
to market and eventually, you know, we've talked about extending
that brand. I p Andrea, what is What do you
think is the the thing that draws in this community
that creates such a loyal base Because I'm finding this
(22:56):
the more and more I dive into Web three communities.
You know, you could go look at the NFT communities,
you could look at some of the gaming communities. There's
a base around each one of them that is very rabid.
Why do you think there is such a tenacity around
Web three communities versus what I've seen out there in
(23:17):
you know, web two land.
Speaker 5 (23:20):
Well, I'll say, you know, I'll start with humans are
naturally tribal, right, and some of these NFT communities that
you're referring to, the ones that are still here to
this day, started out in a really unique moment in time,
and it was during COVID when we were really craving
that sense of community and belonging in connection. So I think,
(23:42):
you know, that's the strongest communities that I can think of. Borday,
pudgy penguins, right, you know, a Zukie all really came
out in that moment in time. It's been interesting because
there haven't been many that have come out in this
last cycle, if any, truly, that have that same.
Speaker 4 (24:00):
Fervor in their community.
Speaker 5 (24:03):
So, you know, it goes back to like doing things
the right way, building community the right way, like minded
individuals finding other like minded individuals that have similar interests.
Speaker 4 (24:14):
They just took that and they put it on chain.
Speaker 2 (24:16):
Yeah. Well, and I think the key here is that
you can't just do this haphazardly. I mean, good examples
of this are v Friends, you know by Gary Vaynerchuk.
That's a good example. You look at you know, Kevin
Rose and what he's done with Proof and moon Birds.
That was a big launch, you know, eighteen months twenty
(24:37):
four months ago. That of course has shifted. I won't
say sideways, but you know, but that's that's taking a
brand from zerare.
Speaker 4 (24:44):
To say sideways.
Speaker 2 (24:45):
I think sideways. We'll call it from zero to a hero,
you know, in like Snap it was there versus when
you go into like a retail brand like a Nike,
who has legendary physical goods that can translate into something
like this. To me, those are the real ones that
(25:06):
have the opportunity to kind of just blow up Pudgie
Penguin's I would say as an anomaly. You know, what
Luca has done over there is pretty pretty phenomenal. And
you know they've done the deal with Walmart, They've got
the listen, I've got some of those Pudge Penguin you
know collectibles, which my daughter loves, and she hasn't quite
figured out that there's a digital twin to these and
(25:26):
what it really means yet, but she understands it. But
my son would be all over this. So are you seeing, Shelley,
Are you seeing more in the space of growth in
web three right now? Or are you finding much like
what Andrea is saying is that we haven't seen any
big stars really break out in this last eighteen months.
Speaker 3 (25:47):
I you know, that was an AHA moment for me
and such such of course right during COVID, all of
the craving of community connection when you know, in lockdown
from that, and then really what has happened over the
last eighteen to twenty four months. There hasn't been that
that breakout in that same way. And I think it's
(26:08):
moving a lot more to what is the real world
application to the blockchain, to the industry, How will this
have staying power and impact? And I know for me
that's why you Devour was born from that. And I
saw an industry I love the restaurant industry, and I
knew blockchain was going to impact it. Nobody was really
(26:30):
tackling what is that going to look like? And like
raise my hand, you know, let's figure that out. And
so I know I'm kind of off script, but I
would love from a busy standpoint to understand life cycle
of a physical item to digital If Andrea, if you
(26:50):
could kind of walk through that, I would really love
to myself understand what that looks like.
Speaker 4 (26:57):
Yeah, it's pretty straightforward.
Speaker 5 (27:00):
You know, the item comes into the vault, we do
a photo shoot, we create the metadata, and then we
put that digital representation on chain. If you can imagine
like eBay, with each one of those pieces being an chaponent.
The benefit is that you don't have to actually physically
ship that asset every time it changes hands, and you
(27:21):
streamline the logistics tremendously.
Speaker 4 (27:23):
Particularly you know, for someone.
Speaker 5 (27:26):
Right now that is creating a brand and they have
a business and they're reselling these collectibles and they're they're
selling and shipping hundreds of items each week, that is
incredibly time consuming and quite frankly limiting on how big
they can scale. So our value proposition to them is that,
(27:46):
you know, hundreds of items one shipment into our vault,
and now we've taken off that huge piece of you know,
the back end logistics for you.
Speaker 4 (27:55):
Obviously the items are on chain.
Speaker 5 (27:56):
So now there's this you know, this value of revenue
generation off every future sale. Whoever initiates that iem on chain,
they're getting one percent that doesn't exist in Web two.
So for these resellers, not only are we saving them time,
but we're also adding in a brand new revenue stream
(28:17):
and you know, just the process itself, Shelley. To go
back to your question, it's very simple and pretty quick.
Speaker 2 (28:23):
Are you are you finding right now? It's mostly the
collectible cards, and I think that's all I saw on
the site.
Speaker 5 (28:32):
Vintage video games, comic books, bunko pops. Will be opening
up into other categories in the next six to eight weeks,
so stay tuned.
Speaker 2 (28:40):
There is there beyond that, beyond those kinds of collectibles
in your roadmap going out, are there certain categories you're
thinking of. I'm thinking everything from fashion goods to wine too.
Speaker 5 (28:54):
I mean, liquor is a whole separate things. There's companies
like Boxes that are doing a great job with that,
so that's not on the roadmap, but sneakers, street wear, handbags.
You know, there's a platform called Whatnot that I think
is it's a good comparison from a Web two perspective.
They've really mean to we built this platform for other
(29:17):
people to sell. We are doing that, but we're doing
it that much more efficiently in you know, in our belief.
Speaker 2 (29:25):
And I just want to show something here in terms
of data to kind of give our listeners and viewers
a little bit of stats on this stuff. This is
NFT statistics for twenty twenty four the market worldwide setting
it about three point two billion, about almost twenty million
users by twenty seven is what they're anticipating. But there's
(29:46):
quite a bit going on in this space. I'm scanning
down quite a few of the asset centers and if
you think about these as kind of the new Ebays
of the world, you see everything from NBA top shot,
you know, to think that we've seen of course on
open Sea, et cetera. But millennials three times more likely
than gen Z to purchase n f ts, which surprised me.
(30:10):
You know, are you finding that there's certain demographics that
seem to that kind of migrate to what you guys
are doing over on BESY.
Speaker 5 (30:18):
I think it's a little different from you know, the
word NFT that we know from the last cycle. And
I think this goes back to Shelley's point. People want more, right,
they don't want just an empty JPEG that has nothing
behind it.
Speaker 4 (30:31):
They're really looking for that utility.
Speaker 5 (30:33):
So you know, I look at it as we're digital twins,
right of course, yes, a non fungible token, but it's
it's a digital twin that's backed by a physical It
will always be backed by a physical and I think
that that's really relevant in this conversation with you know,
when we're looking at statistics of just NFT collections in general,
(30:55):
are you.
Speaker 2 (30:55):
Worried at all about like what's happening with the SEC
with their wells noticed to open? See any concern in
that in terms of where maybe this goes, because this
would affect a lot of different kind of markets potentially.
Speaker 5 (31:09):
Yeah, of course I'd be lying if I said no.
It's something that we're constantly talking about. Obviously, being a
US based founder and US based company, it's top of
mind and in all of our conversations.
Speaker 4 (31:20):
But I'm I, you know.
Speaker 5 (31:23):
The narrative right now leading into the election, I think
that we'll get much more clarity than we have had.
Speaker 4 (31:31):
Yes, strictly, and I believe, you.
Speaker 5 (31:34):
Know, maybe this is me being optimistic, but that you know,
we will do the right thing as a country and
move to embrace this industry in a way we haven't before,
because if we don't, we're just going to continue to
lose innovation and business and builders well.
Speaker 2 (31:50):
And there's so much innovation happening in Asia, the EU,
the Middle East, South America. It's like every region of
the world has really advanced on gaming technology. Obviously within
the digital collectibles area, whether whether it's NFTs or digital twins,
et cetera, they are accelerating at light speed. I just
(32:10):
saw a whole slew of reports coming out of Asia
of what some of the things that are happening in
Hong Kong, along with Korea, Japan, which has really embraced
it as a almost as a new economy, much like
what the Internet was, you know, in the early two
thousands for the United States here. So I think to
your point, this is a time in which the United
(32:34):
States is actually behind now versus everyone else. So it's
definitely one to be on the lookout. What is on
the roadmap for you guys in terms of the near future.
Speaker 5 (32:47):
We actually have some big announcements coming up in the
next probably two to three weeks that I can't I
wish I could go into, but we you know, the
summertime for us was for building and for taking to
feedback and getting this next.
Speaker 4 (33:02):
Busy two point zero if you will, ready to go.
We're super excited.
Speaker 5 (33:07):
We've got some really exciting partnerships to announce, and you know,
just there's there's a lot going on, and this tech
is going to be used in a way in conjunction
with our was that we haven't seen before.
Speaker 2 (33:23):
And you know, we explain, explain our wa some of
our audience.
Speaker 5 (33:26):
World world asset is very simple. Yeah, real world asset.
Speaker 2 (33:31):
So this is where you're tying real world and this
is something that's happening right now. Many people don't realize it,
but we're seeing token is securities that are playing into
this space. So think Blackrock has already engaged on the
Ethereum blockchain. I know we're talking about a lot of
different things here, guys that you're probably listening in and says,
what are they talking about here? But think of it.
(33:53):
Eventually this will be real estate. Eventually, anything that's got tangible,
good value in terms of the real world is going
to end up on some sort of blockchain at some
point in the future to do exactly what Bes's doing.
So definitely going to be a good one for sure.
You guys have BSY by the numbers, total platform volume, million,
(34:14):
five thousand assets, fifty five hundred assets and a million
invaulted assets. So where can this go in the future
for you?
Speaker 5 (34:23):
I think you know, the sky's limit. Collectibles itself is
a massive market, and we intend to become one of
the major players there. How big is that market, I
mean it's in the hundreds of millions, depending on which
country you're looking at globally. And then you know, we
(34:44):
we look at live streaming e commerce as a market
that we're also capitalizing on.
Speaker 4 (34:50):
So we can combine those two, you're well over a trillion,
you know, it's massive.
Speaker 6 (34:55):
The opportunity, well, I mean comic you just think about
to solve Yeah, I just think about the success of
Comic Con, you know, and the the amount of brands
that have moved into that space from a you know,
from a retail standpoint, they've been able to kind of
leverage in the best they can.
Speaker 2 (35:11):
Now the movie industry is tied into it very heavily.
So oh my gosh, Yeah, this is going to be
huge for you guys for sure. Well, I can't wait
to get you back on the show, Andrea, because we're
I'm imagining Besy in about a year to two could
be booming and you guys could have some really cool stuff.
So we got to get you back on when when
(35:31):
you announce these big news items that you're that you're
teasing us with and.
Speaker 4 (35:36):
Uh, I hate doing that, but I just really can't.
All right, well, I'm watch for some ink to dry.
Speaker 2 (35:42):
There you go. Maybe we'll add it to the in
the podcast.
Speaker 5 (35:46):
And Shelley, I just have to say I'm such a
fan of what you're doing with devour. I was telling
Leah that I think you're you're really leading the charge
and it is an industry that you know, can really
use what what we come to know and love and
web three.
Speaker 2 (36:02):
For sure, thank you. Hey man, I tell you what
it takes. What's the old moneyball? Uh theme? The first
one through the wall always gets bloody unfortunately, but those
are the great ones, those are the great ones.
Speaker 7 (36:17):
Got to be willing to make the charge right, right
Andrea's point earlier, you know, as us founders, right, it's
a I too believe we'll we'll it'll be broken, but
we'll get it right on some level because it's innovation
and we can't we you know, we can't squander that.
Speaker 3 (36:36):
And there's so much opportunity here and it will impact
every industry and so we need to get that right.
Speaker 2 (36:45):
Andrea and Melay am I pronouncing the name right?
Speaker 4 (36:48):
Is it Melee, No, no, no, that's it's okay.
Speaker 2 (36:52):
Is that like the.
Speaker 4 (36:57):
Country, it would be a different I love it.
Speaker 2 (36:59):
We'll see, that's see. I always chop up names. I'm
terrible with that. I got to work on that, Shelly,
I got to work on that.
Speaker 1 (37:05):
Anyway.
Speaker 2 (37:06):
Andrea, it's been great having you on the show today.
Thank you so much for stopping in here on Rock
My Restaurant. We appreciate it.
Speaker 4 (37:12):
Thanks guys a thank you.
Speaker 2 (37:15):
Okay, Wow, that was a good one. I think again,
this gets back to the point you and I talk
about all the time. It's education. It's breaking these barriers
down for operators to really understand what the potential is here.
Right Absolutely, you think it's working, is the question. I
feel like it is because I'm getting a lot more
questions from from you know, operators in the market for sure,
(37:36):
what do you think? I think?
Speaker 4 (37:39):
So?
Speaker 3 (37:39):
I think you know a few of the things that
you brought up and asking her, you know, with the
open sea and the wells noticed or different things. I
think that some are waiting to how does this play out?
There's curiosity to it. Jeff over at Wowbow obviously is
you know has led the charge. There are a number
of brands that I've done some things as far as
(38:02):
dipping the toe in, we just haven't yet seen that
they are fully embracing in all the ways from loyalty
marketing and otherwise in the collectibles, you know, they many
of them have their physical items that they do as well.
And that's where I think we'll see the tipping point.
Speaker 2 (38:19):
Yeah, I think it's going to happen much faster than
people think because you know, when I look at it
this way, Shelley, loyalty to me is going to be
the number one component that wins. And when you can
build a platform, whether it's like you know, a Devour
platform that has online ordering components that create that loyalty
(38:39):
mechanism to you know, gain fuel tokens which you can
then use to buy food. That kind of mechanism is
a natural evolution of how digital sales will be working.
And if you look at the restaurant industry and the
transition into the digital sales that have happened in the
last three years, I mean it is night and day
(39:03):
difference now of how much is going through their e
commerce systems.
Speaker 3 (39:08):
Right omni channel. It's you know, it really kind of
went back to the pandemic. Again, if you didn't have
a digital footprint there, then you were caught flat footed.
Many don't want to be and they have expanded it
so much and it just is now such a it's
a you know, tipping point as far as the majority
even of sales in a lot of cases for sure.
Speaker 2 (39:31):
All right, guys, we are going to catch you on
another episode here of Rock My Restaurant. Thanks for coming
in today. If you're not. If you are watching right
now on the YouTube channel, make sure and smash the
like button, and of course give us some comments. We
always love to get feedback from you guys. If you're
listening on the podcast, the audio version of that, you
should join us over on the YouTube version which is
just savor fm. You'll find us there, and of course
(39:53):
you can always visit us on the website at saver
dot fm for more of the Rock My Restaurant shows.
Are going to continue to cover a lot of this
showing the web three component and how it works with
restaurants and retails centers around the world. So you guys,
stay tuned and make sure to subscribe to the show.
(40:14):
Thanks for stopping in. We'll catch you next time right here.
On Rock My Restaurant
Turn of the volume and subscribe now to Rock My Restaurant,
the podcast setting your brand on fire for you, come
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Speaker 2 (00:21):
Welcome back to another episode of Rock My Restaurant. My
name is Paul Baron, and of course joining me as
my co host, Miss Shelley Rupel Shelley, how are you great?
Speaker 3 (00:31):
Paul? Excited about this episode?
Speaker 2 (00:33):
Ready to go? Yeah, listen, A lot of them happening,
And we just came back from a big event. Prosper
was really good, a lot of people there. We had
a chance to shoot a couple shows, so we'll have
those airing here on Rock My Restaurant soon, so you
guys will get a chance to see all that. And
what was interesting to me is the event itself. There
(00:54):
was a lot of operators there. I was surprised at
how busy it was. So that's and kind of a
little bit of a light in the in the industry
right now.
Speaker 3 (01:05):
I you know, I was able to see it online.
We weren't able to go this year, but you know,
last year, I was amazed at the quality of operators
and QSR evolution happened this week. I was shocked at
the turnout they had directly after Labor Day weekend, right,
so it seems as though everyone's out and about and
(01:28):
hitting the ball conference circuit.
Speaker 2 (01:31):
Well, the cool part is is that the operators are
looking for ideas and I think that's you know, obviously
what we do here on Rock my restaurant. What can
you tell me about what's happening at Devour anything new?
Speaker 3 (01:44):
We've had a very busy summer, so a lot of
product releases for us, and most excitingly, we've recently released
our imbedible ordering as well as our partner portals.
Speaker 2 (01:55):
So how does the ambedible ordering work?
Speaker 3 (01:58):
So we have built basically taking our very complex marketplace
technology and made that dropable into in gaming APIs available,
so as we partner with gaming publishers creators, they can
just if they want to make food ordering or rewarding
available directly in their game, we can drop it right
(02:22):
in to their environment and make that available for gamers
while they're gaming.
Speaker 2 (02:28):
You know, we had a session that at the event
where we spoke on this very issue of collectibles NFTs
in general, but also the gaming integration and the value
that web three is bringing and it was one of
the most popular sessions of the entire event. We had
Andre on from Doghouse and then Jeff of course from
(02:51):
web how so, I mean, those are the guys that
kind of know what's up when it comes to this.
But I was amazed at how many people were in
the room. Nobody left. Was crazy.
Speaker 3 (03:01):
That's that's exciting, and that's you know, Doghouse. We've got
a collaboration with them upcoming. Dave's Hot Chicken, you know,
is excited in some things that we're doing with them,
with a Web three game, wag me games, you know,
that ability to power yes, yeah.
Speaker 2 (03:20):
And then is it Scott is that his part?
Speaker 3 (03:23):
Yes, yeah, so great, great team. I'm really excited about
the opportunities. They're very very open to the collaborations and
then our ability to bring in restaurant brands for that.
I think they've already visited a couple of Dave's Hot
Chicken locations. You know, they're they're they're getting excited about it.
And then the tech and what we can we should bring.
Speaker 2 (03:46):
Them on the show. We should get them on the show.
Speaker 3 (03:48):
They would be they would be wonderful.
Speaker 2 (03:50):
I think Ian and Scott. I think we've had Scott
or is it Ion? Yes?
Speaker 3 (03:56):
I had to ask him as well on that, so
it's Ion.
Speaker 2 (04:00):
Well, listen, we've got another founder of another Web three
startup out there that's coming on the show today and
we're going to be talking about really kind of blockchain
and dining and the future of digital collectibles with restaurants specifically,
and it's going to be a good one. I think
you guys will love it. It's with Andrea Mila, which
is and has been in the Web three industry. I
(04:23):
call it an industry, but it's has it been around
that long and her bio had ten years ago. I
was trying to think, wow, this is I feel like
we're old school now here when it comes to web three.
But she's going to give us a rundown on what
she's been doing with a company out there called Beezy
and a project that she is launching. So let's just
(04:43):
bring her in to the show. Welcome Andrea. How are you?
Speaker 4 (04:49):
Thank you? Hi, Shelly, I Paul, I'm happy to be here.
Speaker 2 (04:52):
Thanksving Listen, we get a chance to talk to a
lot of Web three people, game companies, NFT artists, people
who are building IP for brands and it's great to
have you on. So I was looking and had a
chance to really kind of review over the last week
a little bit more about what you're doing, and I
(05:13):
want to kind of just leap off the front end
for many of our operators. Could you have to think
about restaurant operators here may not necessarily be tuned into
this perfectly, but give us a rundown on what BESY
is and how this could be used in a retail setting.
Speaker 5 (05:30):
Sure, it's a great question, and I always I link
it back to build something that your children or your
parents can understand, and I think that's really what we've
done with Beesy and collectibles. We take blockchain, which can
obviously be a somewhat complex technology, and we simply we
simplify it by really leaning into the benefits but not
(05:53):
making our consumers or our users have to dig too
deep in a tech perspective, Basically, we are a platform,
a marketplace that takes a physical collectible and creates a
digital twin.
Speaker 4 (06:06):
All of these physical collectibles.
Speaker 5 (06:08):
Are stored in our vault partner, which is breaks you know,
brings as a massive web to brand, a leader in
security and logistics, and really it opens you up to
a a global market, be the liquidity that we know
is here in crypto and solve some real problems in
(06:28):
a very antiquated system, which is the resale of collectibles.
Speaker 2 (06:32):
Yeah. So you have brands out there that are obviously
have brand IP. This is something that we're seeing more
and more now where brands are trying to transform, whether
it's merge or you know, maybe they've build certain elements
around character collectibles or card collectibles, et cetera. Most of
that has been in the gaming community and or in
(06:54):
some retail categories for culture, but if you look at
the food service space and the rest on industry, we're
starting to see them understand what digital can be for
kind of extending that IP of the brand itself. Are
you guys finding brands that are trying to actually come
in and develop something that would kind of work in
(07:18):
this area much like what you guys are doing from
a digital twin standpoint.
Speaker 5 (07:22):
Yeah, I mean I think we're just scratching the surface
for sure. I mean there's always that really interesting brand
overlap that you're seeing. I think, you know, most recently,
McDonald's put out those collectible cups that people in our
community were already talking about right away because they leaned
into that nostalgia. Now, if there was a digital component
(07:45):
to it, I think it would be that much more interesting.
Speaker 4 (07:48):
But yeah, I mean it's a perfect match truly.
Speaker 2 (07:54):
Well, I think the extension of brand is now when
you look at the restaurant brands that are out there,
especially TI Unit, it's definitely going in and expanding quite
a bit. Shelley, I know you're you're working with a
lot of restaurant brands. Have you have you heard them
talk about this idea of extending the IP out.
Speaker 3 (08:14):
You know, We've had a number of conversations, whether it's
companies on the side that helps brands with their IP
and extending that out, how they can license that in
different places. I think, again, like a lot of things
with the restaurant industry, it's very early on. I've used
the word curiosity a number of times and a few
(08:34):
of the sessions and that curious about it. They do
IP licensing already, how that can then become digital is
still very early on.
Speaker 2 (08:43):
Yeah, I think this is the key from from a
partner standpoint, and especially from I think the exploration of
brands trying to come into this space, Andrea, when you
when you guys are working with people, what are you
finding right now that do they understand this Web three
(09:04):
part of it? Are you do you have to kind
of dumb it down? I know that's something that at Devour,
you know you have to do all the time. How
are you guys seeing that in terms of just how
people are kind of getting what you're doing.
Speaker 4 (09:15):
Yeah, I mean our MVP was launched here in Web three,
so obviously we had really tech forward early consumers, but
the platforms truly being built for Web two resellers of collectibles,
and those people are coming in and they're not cryptonative.
Speaker 5 (09:30):
And you know, our story, our selling point and the
way we begin these conversations is not we're a blockchain
crypto company. It's here are the problems that we're we're solving.
Here are the benefits of working with us. Oh and
by the way, we can do all of this because
we have blockchain rails. So again you're not diving too
(09:51):
deep into the tech and you don't have to. We
you know, as a team, we talk a lot like
when you go to someone's house and you say, hey,
what's the Wi Fi password? I don't care Horizon or Comcast.
It doesn't matter to me, right, That's really what you
know blockchain will be in the future.
Speaker 2 (10:06):
Yeah, kind of ubiguous to what's happening in the world
of tech, I think is the key here. And eventually
it's going to get into a point and you know,
Shelley and I talk about this all the time, is
that at some point people are just going to call
it ordering, you know, just you know, whether it's food oring,
doesn't matter if it's on blockchain rails or if it's
on some other system that's out there for kind of
the future of this. The idea though for you guys,
(10:29):
because I know Beezy was was previously called colony, Is
that right?
Speaker 4 (10:33):
Yeah? The colony?
Speaker 2 (10:34):
What was the transition there? What was the concept?
Speaker 5 (10:38):
I mean, listen to rebrand's never easy, but you know,
we have a really long term vision for this company,
and we were limited by what we could acquire with
trademarks with the word colony.
Speaker 4 (10:50):
So it was a really simple decision for us.
Speaker 5 (10:52):
We wanted to create a brand that was uniquely ours and.
Speaker 4 (10:57):
That's what we landed on with Beez.
Speaker 5 (10:59):
I think we actually hit that really well, but we
couldn't do that with colony. So, you know, the inception
of colony and the idea behind it is still all
there and rings true for BESY, but beas allows us
to have a much longer term play.
Speaker 2 (11:17):
So with the product or, I guess the concept that
you guys are bringing. You know, we've been doing coverage
on projects out there like TYB. I don't know if
you've been watching what they're doing, but they're essentially allowing
celebrities and brands to kind of come in and create
these these social marketplaces that end up having a blockchain component,
(11:40):
and there's everything from loyalty tokens, all that kind of thing.
How would a restaurant or a retail or any kind
of brand for that matter be able to engage in
something like what you guys are doing here. Would they
have to have a collectible series to engage or could
they create something brand new and use it as a
(12:01):
collectible launch for what you guys are doing?
Speaker 5 (12:04):
Yeah, I mean, certainly bigger brands, right if they're putting
out these collector items. It's an interesting conversation, but that's
you know, a much more established. The hope is that
you're building something that some of the smaller restaurants popping
up can utilize as well. I don't know if it's
specific to us, but I do think there's a world
(12:25):
where some of these social platforms can really bring in
the restaurant industry. I think it's very interesting conceptually when
you look at, you know, potentially token gating a community
around a brand or an influencer. There's real power in that,
and that's certainly a conversation that is worth continuing to
(12:46):
explore and evolve as the technology evolves.
Speaker 2 (12:49):
Truly, this is something that we've been talking about, I know,
on some of our other podcasts, and I think you
know right now, Shelley, I know you guys have been
able to achieve. This is this very large fan base
in for Devour that has, uh, there's just a community.
I mean I'm in the you know, in the Telegram
(13:11):
group and the Discord group, and I see that engagement
and I don't necessarily see that as much in the
retail brand space. And I'm kind of curious for and
this is kind of for both of you. Andrea will
start with you. Have you have you seen a way
that whether it's a retail company, it's a brand of
(13:34):
some sort that's trying to launch how do you get
started in building that community, I mean really building that
kind of that connection element because this is this is
different than social media.
Speaker 5 (13:44):
Yeah no, I mean we're a platform that has been
built specifically for resellers of collectibles that have built communities
around their individual brand. So I think we have pretty
unique perspective there. And I am a firm believer that
it's brick by brick. It is not built in a day.
It's about showing up with consistency, whether you're a bigger brand,
(14:07):
a mid sized brand, an individual that's just looking to.
Speaker 4 (14:10):
Get out there and creating compelling and engaging content that
has meaning. Right, it seems so fundamental.
Speaker 5 (14:19):
But you know, in this space, like you talked about
a little earlier, I've been in this space in cryptos
in twenty sixteen and have been here for the last
few cycles. There's a lot of stuff that's come up
that's not organic and it's very artificial.
Speaker 2 (14:32):
Yeah, you can tell fash.
Speaker 5 (14:33):
In the pan and it will not last. So when
we're talking about these brands, it's really doing it the
right way.
Speaker 1 (14:39):
Yeah.
Speaker 2 (14:40):
We've had a chance to talk to quite a few
that have been very successful. One of the coffee brands.
That is we're watching closely as Raposa, which has been
able to do this. They have a collectible component, but
they have a figital so there's the digital twin component
of the coffee itself and it's like a provenance for
you know, the itself. So I could see that this
(15:02):
really plays into where the future of branding could go.
And back to the point we were getting at Shelling
building these communities, especially in these social platforms, when you
start to kind of initiate a new area to where
literally your your fans would follow you anywhere, you know,
whether it's a closed ecosystem, it's living on you know,
(15:24):
one of these decentralized platforms like a forecast or something
of that nature. What have you guys done to get
I mean, because you have a massive audience over there,
I was surprised to how big it is. Ho have
you guys done that's drawing them in?
Speaker 3 (15:39):
You know, and compared to other communities I consider as
a small but mighty community. I think similar for all
three of us coming from the web Web two world
into Web three. The idea of a digital community in
that way on top of the company that you're building
is new and different, right, you said it's different than
social media, and it definitely is. All of a sudden,
(16:01):
you have a group that you're needing to connect with
and communicate with on a daily basis. Keep they they're
excited about what you're doing and building. But it's very
different than just starting a company that you would typically
do running your company trying to grow it. You are
also growing and nurturing the relationships with the community. For us,
(16:21):
we're unique as well in that we're wanting to power
things for other people. So it's we we eventually want
this to be less about our brand and more about
just what we are powering for our strategic partners, games, brands, prgets,
and that's a tough thing to straddle.
Speaker 2 (16:38):
Well, and it's you know, it's the platform, you know,
model that you know eventually starts to allow others to
kind of excel, which I think is what Beasy is
is doing here. Okay, so on this when you look
at that kind of concept, you build a community. Yes,
there's there's a tool set here for you guys. In
(16:59):
terms of the digital I guess many people will maybe
not know that term exactly, but it's a physical digital
component that you're taking a physical item, tokenizing it in
some format or digitizing it in a way that it becomes,
you know, capable to be used in other you know
systems like what a Web three you know, potential opportunity
(17:21):
would be. How are you guys drawing in those collectors'
communities to where they come on too bezy and start
using using it in that way?
Speaker 5 (17:32):
Yeah, a lot of it is word of mouth right now.
We actually haven't spent a single dollar on Web two
marketing yet we've really focused here in Web three and
I think, you know, I've got to give my team credit.
The people on our team have really deep roots in
their own specific pieces of the vertical itself. We've got,
you know, some og sneaker heads that we're chasing Supreme
(17:54):
in its earlier days. And then we have people that
you know, can tell you every single thing about any
Pokemon card you put in.
Speaker 4 (18:02):
Some of them basically bring their own networks right.
Speaker 5 (18:06):
And then it's it's the resellers that we do come
on trying to give them a insight into this early
piece of the build, because I think that's really compelling
and interesting when you can take a partner and say
I'm going to be vulnerable because I want your ideas.
I want you to tell us how this can be better,
and we want to build together and that has been
(18:29):
pretty successful for us.
Speaker 2 (18:31):
What is the process that someone would go through to
be in, you know, on the platform engaged with you guys.
Step one for me, if I've got a collectible.
Speaker 5 (18:41):
Series, So if you're a reseller, you mean, yeah, yeah,
So we have some vaulting forms and forms on the
website that they fill out if they want to submit
their physicals into our vault.
Speaker 4 (18:52):
It's pretty straightforward.
Speaker 5 (18:53):
And then we have a specific application for resellers, which
you know, really asks a bit about their business, what
their focus is, you know, their community itself.
Speaker 4 (19:04):
It's pretty you know, it's pretty straightforward.
Speaker 2 (19:06):
So think about locations and location based digital collectibles and
I'm thinking, you know, whether it's Wilbow, Chipotle or whatever,
there's many. I mean, Chipotle has kind of already stepped
into this area in the gaming side of they work
with tech and eight. We've seen some other projects that
they've started to integrate into. So the brands are picking
(19:28):
up on this use case. When you look at loyalty
based especially on a potential for location based usage of
digital collectibles. Have you seen anything to that level yet?
Speaker 5 (19:40):
Not in you know, our space in terms of like
physical collectibles. But I think you know, obviously we've seen
really interesting plays with po ops. Okay, I think you
know these incentive campaigns that we know so well in
Web three, If you think about applying those two resturants,
becomes incredibly interesting.
Speaker 2 (20:02):
You talk about like air drops and things.
Speaker 5 (20:04):
Yeah, just you know, you take like a standard web
to you know, loyalty campaign and you put it on
chain and the incentives are a bit more compelling and interesting.
Speaker 4 (20:16):
You know, if you're going to to.
Speaker 5 (20:18):
Draw a parallel to collectibles, we always say receipts matter, right,
So if I am buying a pair of Jordan's from
a super well known collector that actually originated that item
on chain and we're ten sales in and I can
kind of trace it and see its history, right, interesting
if you look at that with like restaurants. You know,
if you're one of the earliest users or the earliest
(20:40):
I should say consumers of restaurant X before it exploded,
and you have that poll op where you joined incredibly
early in their loyalty system and then they blow up,
that's a really interesting point to talk about and.
Speaker 2 (20:53):
To reward well. And I think the point you're getting
at is that it creates this loyalty mechanism that we
not have not necessarily seen completely expand yet in the
Web two world. And I think the Web three component
is already showing, you know, the potential for it, even
though it's a small emerging market that is starting to
(21:14):
really gain some traction globally. It'll be I think it's
going to be a good case study to watch, especially,
I mean because Nike is probably the one. I think
that is the case study to watch because of what
they've done with Artifact and you know, taking a physical
and creating a digital twin and really doing a good
job with it and then building a community around it,
which is really cool, Shelley. So when you look at
(21:37):
that and you think about I'm thinking about wag me,
I know they're trying to go in this direction with
gaming NFTs and things of that nature. Do you see
the potential here for game companies to start to do
something like this from a strategy standpoint.
Speaker 3 (21:53):
For sure? I mean it's applicable across a number of industries,
right and especially when you start looking at digital twins.
That's something roadblocks, you know, from a gaming perspective, the
digital twins of what lives on the platform and in
an actual physical component to that. So whether it's restaurant brands, gaming,
(22:13):
you know, the the use cases for this across the
board and into Andrea's point, you know, the compelling nature
of holding something and then what happens thereafter, or the
rewards and things that are possible just aren't typically and
haven't been in the Web two marketing or you know,
(22:34):
in that world.
Speaker 2 (22:35):
Yeah, well, and I think the point is this opens
up a whole new area of how companies will go
to market and eventually, you know, we've talked about extending
that brand. I p Andrea, what is What do you
think is the the thing that draws in this community
that creates such a loyal base Because I'm finding this
(22:56):
the more and more I dive into Web three communities.
You know, you could go look at the NFT communities,
you could look at some of the gaming communities. There's
a base around each one of them that is very rabid.
Why do you think there is such a tenacity around
Web three communities versus what I've seen out there in
(23:17):
you know, web two land.
Speaker 5 (23:20):
Well, I'll say, you know, I'll start with humans are
naturally tribal, right, and some of these NFT communities that
you're referring to, the ones that are still here to
this day, started out in a really unique moment in time,
and it was during COVID when we were really craving
that sense of community and belonging in connection. So I think,
(23:42):
you know, that's the strongest communities that I can think of. Borday,
pudgy penguins, right, you know, a Zukie all really came
out in that moment in time. It's been interesting because
there haven't been many that have come out in this
last cycle, if any, truly, that have that same.
Speaker 4 (24:00):
Fervor in their community.
Speaker 5 (24:03):
So, you know, it goes back to like doing things
the right way, building community the right way, like minded
individuals finding other like minded individuals that have similar interests.
Speaker 4 (24:14):
They just took that and they put it on chain.
Speaker 2 (24:16):
Yeah. Well, and I think the key here is that
you can't just do this haphazardly. I mean, good examples
of this are v Friends, you know by Gary Vaynerchuk.
That's a good example. You look at you know, Kevin
Rose and what he's done with Proof and moon Birds.
That was a big launch, you know, eighteen months twenty
(24:37):
four months ago. That of course has shifted. I won't
say sideways, but you know, but that's that's taking a
brand from zerare.
Speaker 4 (24:44):
To say sideways.
Speaker 2 (24:45):
I think sideways. We'll call it from zero to a hero,
you know, in like Snap it was there versus when
you go into like a retail brand like a Nike,
who has legendary physical goods that can translate into something
like this. To me, those are the real ones that
(25:06):
have the opportunity to kind of just blow up Pudgie
Penguin's I would say as an anomaly. You know, what
Luca has done over there is pretty pretty phenomenal. And
you know they've done the deal with Walmart, They've got
the listen, I've got some of those Pudge Penguin you
know collectibles, which my daughter loves, and she hasn't quite
figured out that there's a digital twin to these and
(25:26):
what it really means yet, but she understands it. But
my son would be all over this. So are you seeing, Shelley,
Are you seeing more in the space of growth in
web three right now? Or are you finding much like
what Andrea is saying is that we haven't seen any
big stars really break out in this last eighteen months.
Speaker 3 (25:47):
I you know, that was an AHA moment for me
and such such of course right during COVID, all of
the craving of community connection when you know, in lockdown
from that, and then really what has happened over the
last eighteen to twenty four months. There hasn't been that
that breakout in that same way. And I think it's
(26:08):
moving a lot more to what is the real world
application to the blockchain, to the industry, How will this
have staying power and impact? And I know for me
that's why you Devour was born from that. And I
saw an industry I love the restaurant industry, and I
knew blockchain was going to impact it. Nobody was really
(26:30):
tackling what is that going to look like? And like
raise my hand, you know, let's figure that out. And
so I know I'm kind of off script, but I
would love from a busy standpoint to understand life cycle
of a physical item to digital If Andrea, if you
(26:50):
could kind of walk through that, I would really love
to myself understand what that looks like.
Speaker 4 (26:57):
Yeah, it's pretty straightforward.
Speaker 5 (27:00):
You know, the item comes into the vault, we do
a photo shoot, we create the metadata, and then we
put that digital representation on chain. If you can imagine
like eBay, with each one of those pieces being an chaponent.
The benefit is that you don't have to actually physically
ship that asset every time it changes hands, and you
(27:21):
streamline the logistics tremendously.
Speaker 4 (27:23):
Particularly you know, for someone.
Speaker 5 (27:26):
Right now that is creating a brand and they have
a business and they're reselling these collectibles and they're they're
selling and shipping hundreds of items each week, that is
incredibly time consuming and quite frankly limiting on how big
they can scale. So our value proposition to them is that,
(27:46):
you know, hundreds of items one shipment into our vault,
and now we've taken off that huge piece of you know,
the back end logistics for you.
Speaker 4 (27:55):
Obviously the items are on chain.
Speaker 5 (27:56):
So now there's this you know, this value of revenue
generation off every future sale. Whoever initiates that iem on chain,
they're getting one percent that doesn't exist in Web two.
So for these resellers, not only are we saving them time,
but we're also adding in a brand new revenue stream
(28:17):
and you know, just the process itself, Shelley. To go
back to your question, it's very simple and pretty quick.
Speaker 2 (28:23):
Are you are you finding right now? It's mostly the
collectible cards, and I think that's all I saw on
the site.
Speaker 5 (28:32):
Vintage video games, comic books, bunko pops. Will be opening
up into other categories in the next six to eight weeks,
so stay tuned.
Speaker 2 (28:40):
There is there beyond that, beyond those kinds of collectibles
in your roadmap going out, are there certain categories you're
thinking of. I'm thinking everything from fashion goods to wine too.
Speaker 5 (28:54):
I mean, liquor is a whole separate things. There's companies
like Boxes that are doing a great job with that,
so that's not on the roadmap, but sneakers, street wear, handbags.
You know, there's a platform called Whatnot that I think
is it's a good comparison from a Web two perspective.
They've really mean to we built this platform for other
(29:17):
people to sell. We are doing that, but we're doing
it that much more efficiently in you know, in our belief.
Speaker 2 (29:25):
And I just want to show something here in terms
of data to kind of give our listeners and viewers
a little bit of stats on this stuff. This is
NFT statistics for twenty twenty four the market worldwide setting
it about three point two billion, about almost twenty million
users by twenty seven is what they're anticipating. But there's
(29:46):
quite a bit going on in this space. I'm scanning
down quite a few of the asset centers and if
you think about these as kind of the new Ebays
of the world, you see everything from NBA top shot,
you know, to think that we've seen of course on
open Sea, et cetera. But millennials three times more likely
than gen Z to purchase n f ts, which surprised me.
(30:10):
You know, are you finding that there's certain demographics that
seem to that kind of migrate to what you guys
are doing over on BESY.
Speaker 5 (30:18):
I think it's a little different from you know, the
word NFT that we know from the last cycle. And
I think this goes back to Shelley's point. People want more, right,
they don't want just an empty JPEG that has nothing
behind it.
Speaker 4 (30:31):
They're really looking for that utility.
Speaker 5 (30:33):
So you know, I look at it as we're digital twins,
right of course, yes, a non fungible token, but it's
it's a digital twin that's backed by a physical It
will always be backed by a physical and I think
that that's really relevant in this conversation with you know,
when we're looking at statistics of just NFT collections in general,
(30:55):
are you.
Speaker 2 (30:55):
Worried at all about like what's happening with the SEC
with their wells noticed to open? See any concern in
that in terms of where maybe this goes, because this
would affect a lot of different kind of markets potentially.
Speaker 5 (31:09):
Yeah, of course I'd be lying if I said no.
It's something that we're constantly talking about. Obviously, being a
US based founder and US based company, it's top of
mind and in all of our conversations.
Speaker 4 (31:20):
But I'm I, you know.
Speaker 5 (31:23):
The narrative right now leading into the election, I think
that we'll get much more clarity than we have had.
Speaker 4 (31:31):
Yes, strictly, and I believe, you.
Speaker 5 (31:34):
Know, maybe this is me being optimistic, but that you know,
we will do the right thing as a country and
move to embrace this industry in a way we haven't before,
because if we don't, we're just going to continue to
lose innovation and business and builders well.
Speaker 2 (31:50):
And there's so much innovation happening in Asia, the EU,
the Middle East, South America. It's like every region of
the world has really advanced on gaming technology. Obviously within
the digital collectibles area, whether whether it's NFTs or digital twins,
et cetera, they are accelerating at light speed. I just
(32:10):
saw a whole slew of reports coming out of Asia
of what some of the things that are happening in
Hong Kong, along with Korea, Japan, which has really embraced
it as a almost as a new economy, much like
what the Internet was, you know, in the early two
thousands for the United States here. So I think to
your point, this is a time in which the United
(32:34):
States is actually behind now versus everyone else. So it's
definitely one to be on the lookout. What is on
the roadmap for you guys in terms of the near future.
Speaker 5 (32:47):
We actually have some big announcements coming up in the
next probably two to three weeks that I can't I
wish I could go into, but we you know, the
summertime for us was for building and for taking to
feedback and getting this next.
Speaker 4 (33:02):
Busy two point zero if you will, ready to go.
We're super excited.
Speaker 5 (33:07):
We've got some really exciting partnerships to announce, and you know,
just there's there's a lot going on, and this tech
is going to be used in a way in conjunction
with our was that we haven't seen before.
Speaker 2 (33:23):
And you know, we explain, explain our wa some of
our audience.
Speaker 5 (33:26):
World world asset is very simple. Yeah, real world asset.
Speaker 2 (33:31):
So this is where you're tying real world and this
is something that's happening right now. Many people don't realize it,
but we're seeing token is securities that are playing into
this space. So think Blackrock has already engaged on the
Ethereum blockchain. I know we're talking about a lot of
different things here, guys that you're probably listening in and says,
what are they talking about here? But think of it.
(33:53):
Eventually this will be real estate. Eventually, anything that's got tangible,
good value in terms of the real world is going
to end up on some sort of blockchain at some
point in the future to do exactly what Bes's doing.
So definitely going to be a good one for sure.
You guys have BSY by the numbers, total platform volume, million,
(34:14):
five thousand assets, fifty five hundred assets and a million
invaulted assets. So where can this go in the future
for you?
Speaker 5 (34:23):
I think you know, the sky's limit. Collectibles itself is
a massive market, and we intend to become one of
the major players there. How big is that market, I
mean it's in the hundreds of millions, depending on which
country you're looking at globally. And then you know, we
(34:44):
we look at live streaming e commerce as a market
that we're also capitalizing on.
Speaker 4 (34:50):
So we can combine those two, you're well over a trillion,
you know, it's massive.
Speaker 6 (34:55):
The opportunity, well, I mean comic you just think about
to solve Yeah, I just think about the success of
Comic Con, you know, and the the amount of brands
that have moved into that space from a you know,
from a retail standpoint, they've been able to kind of
leverage in the best they can.
Speaker 2 (35:11):
Now the movie industry is tied into it very heavily.
So oh my gosh, Yeah, this is going to be
huge for you guys for sure. Well, I can't wait
to get you back on the show, Andrea, because we're
I'm imagining Besy in about a year to two could
be booming and you guys could have some really cool stuff.
So we got to get you back on when when
(35:31):
you announce these big news items that you're that you're
teasing us with and.
Speaker 4 (35:36):
Uh, I hate doing that, but I just really can't.
All right, well, I'm watch for some ink to dry.
Speaker 2 (35:42):
There you go. Maybe we'll add it to the in
the podcast.
Speaker 5 (35:46):
And Shelley, I just have to say I'm such a
fan of what you're doing with devour. I was telling
Leah that I think you're you're really leading the charge
and it is an industry that you know, can really
use what what we come to know and love and
web three.
Speaker 2 (36:02):
For sure, thank you. Hey man, I tell you what
it takes. What's the old moneyball? Uh theme? The first
one through the wall always gets bloody unfortunately, but those
are the great ones, those are the great ones.
Speaker 7 (36:17):
Got to be willing to make the charge right, right
Andrea's point earlier, you know, as us founders, right, it's
a I too believe we'll we'll it'll be broken, but
we'll get it right on some level because it's innovation
and we can't we you know, we can't squander that.
Speaker 3 (36:36):
And there's so much opportunity here and it will impact
every industry and so we need to get that right.
Speaker 2 (36:45):
Andrea and Melay am I pronouncing the name right?
Speaker 4 (36:48):
Is it Melee, No, no, no, that's it's okay.
Speaker 2 (36:52):
Is that like the.
Speaker 4 (36:57):
Country, it would be a different I love it.
Speaker 2 (36:59):
We'll see, that's see. I always chop up names. I'm
terrible with that. I got to work on that, Shelly,
I got to work on that.
Speaker 1 (37:05):
Anyway.
Speaker 2 (37:06):
Andrea, it's been great having you on the show today.
Thank you so much for stopping in here on Rock
My Restaurant. We appreciate it.
Speaker 4 (37:12):
Thanks guys a thank you.
Speaker 2 (37:15):
Okay, Wow, that was a good one. I think again,
this gets back to the point you and I talk
about all the time. It's education. It's breaking these barriers
down for operators to really understand what the potential is here.
Right Absolutely, you think it's working, is the question. I
feel like it is because I'm getting a lot more
questions from from you know, operators in the market for sure,
(37:36):
what do you think? I think?
Speaker 4 (37:39):
So?
Speaker 3 (37:39):
I think you know a few of the things that
you brought up and asking her, you know, with the
open sea and the wells noticed or different things. I
think that some are waiting to how does this play out?
There's curiosity to it. Jeff over at Wowbow obviously is
you know has led the charge. There are a number
of brands that I've done some things as far as
(38:02):
dipping the toe in, we just haven't yet seen that
they are fully embracing in all the ways from loyalty
marketing and otherwise in the collectibles, you know, they many
of them have their physical items that they do as well.
And that's where I think we'll see the tipping point.
Speaker 2 (38:19):
Yeah, I think it's going to happen much faster than
people think because you know, when I look at it
this way, Shelley, loyalty to me is going to be
the number one component that wins. And when you can
build a platform, whether it's like you know, a Devour
platform that has online ordering components that create that loyalty
(38:39):
mechanism to you know, gain fuel tokens which you can
then use to buy food. That kind of mechanism is
a natural evolution of how digital sales will be working.
And if you look at the restaurant industry and the
transition into the digital sales that have happened in the
last three years, I mean it is night and day
(39:03):
difference now of how much is going through their e
commerce systems.
Speaker 3 (39:08):
Right omni channel. It's you know, it really kind of
went back to the pandemic. Again, if you didn't have
a digital footprint there, then you were caught flat footed.
Many don't want to be and they have expanded it
so much and it just is now such a it's
a you know, tipping point as far as the majority
even of sales in a lot of cases for sure.
Speaker 2 (39:31):
All right, guys, we are going to catch you on
another episode here of Rock My Restaurant. Thanks for coming
in today. If you're not. If you are watching right
now on the YouTube channel, make sure and smash the
like button, and of course give us some comments. We
always love to get feedback from you guys. If you're
listening on the podcast, the audio version of that, you
should join us over on the YouTube version which is
just savor fm. You'll find us there, and of course
(39:53):
you can always visit us on the website at saver
dot fm for more of the Rock My Restaurant shows.
Are going to continue to cover a lot of this
showing the web three component and how it works with
restaurants and retails centers around the world. So you guys,
stay tuned and make sure to subscribe to the show.
(40:14):
Thanks for stopping in. We'll catch you next time right here.
On Rock My Restaurant
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