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The following transcript was created using artificial intelligence. There will be some grammatical errors below.

00:01:18:13 – 00:01:50:20

Richard Carthon: What’s up, everyone? Your host here, Richard Carthon coming to you with another episode of Crypto Current. And I am excited to be speaking with a really, really, really cool project in person, working on something that I know I’m excited to learn more about, and I’m sure you will too. It’s all about community. It’s all about being able to build amazing communities and be able to give back to them in a really unique way. That hasn’t been done, I think, in the way that they are going about it. Today we have Sarah, who is the CEO at Geo Jam.

00:01:50:29 – 00:01:51:29

Richard Carthon: How are you doing today?

00:01:52:18 – 00:01:54:26

Sarah Figueroa: I’m doing great. Thank you so much for having me.

00:01:55:14 – 00:02:13:27

Richard Carthon: No problem. And of course, for all of those listening, make sure you come and check us out on YouTube. She has a really cool setup that I think you’ll really enjoy, be able to come in and watch. But you know, Sarah, as we dive into this, before we explore all the things you’re doing that go down first, I want to learn a little bit more about you can give us a little background on yourself.

00:02:14:16 – 00:02:47:03

Sarah Figueroa: Of course, I’m a serial entrepreneur. I’ve sold my first company when I was 20 and have been obsessive over just like the social media industry. When I first heard about Etherium, I thought that there needed to be a decentralized social network. I started mining Ethereum in 2015 and I’ve just been obsessed over decentralization and community and what it could do for creators and artists and bringing that sense of ownership back to the fans and really like redirect the flow of incentives.

00:02:47:05 – 00:03:03:00

Sarah Figueroa: Like it hasn’t been done any before, any time before, and the blockchain really allows that. And so I have a background in social media as well as music sponsorships and experiential marketing, and I’m also a UX designer and really product heavy CEO.

00:03:03:27 – 00:03:47:24

Richard Carthon: That is the perfect formula for what you’re building over at Geo Gen. So first of all, it’s always a huge accomplishment to be able to go through an acquisition. The fact that you’re able to do that in your your twenties just set you up for this road to success. So coming from, you know, Web 2.0, being in social media and just seeing how all of these different platforms where basically your end user is the product because they’re the ones that are making you all the money and they’re not really reaping the benefits of the ownership of the data in the transactions that they’re doing for that platform, being able to turn it on its head, create decentralization and create ownership for participation in these different types of ecosystems.

00:03:47:26 – 00:03:59:15

Richard Carthon: You’re like, okay, here’s this unique opportunity. I know how to create this. I’m going to go do it. Is that how this kind of came into fruition of like when you identified here’s a here’s an issue and now I’m going to try to go tackle that.

00:04:00:14 – 00:04:34:25

Sarah Figueroa: Yeah. So originally I started writing our first white paper probably in 2017, and then I just, you know, it was like everything was going kind of crazy at that point. There was a lot of ideas at the time. And when I but I didn’t have like the right team, it was just kind of like me in a dark dungeon thinking of it. And then I met my co-founder Sam, and when I originally had met him, he said, okay, let’s do this. But I really think it’s too early to do crypto. So we always knew that we were eventually going to build it on the blockchain, but we started with jam points so you would come on to the platform.

00:04:34:27 – 00:05:08:17

Sarah Figueroa: We also started in music, so you connected through your Spotify or your Apple Music and you would earn points, and with those points you can buy things in the jam shop. And right away we were already rewarding fans for promoting the artists and listening and engaging with the music and really spreading the word about a new album or a merch drop or whatever it might be, and turning the fans into like the army for the artist. And so the points were they didn’t have supply I a set supply or it was really just like they were just a point system, kind of like airline miles.

00:05:08:19 – 00:05:41:17

Sarah Figueroa: And we realized very quickly, this needs to be a token. And we have like true utility that’s redirecting the flows of incentives back in the hands of the fans and the creators. But if we don’t have a token, it’s just like there’s not that value that it needs to be. It’s the perfect company to be built on the blockchain. So about almost a year ago we decided to make the switch. And it’s been just quite, quite the journey. And I think we’ve learned so much. And now it’s like we have this whole new product coming out that is really going to tackle things like I never thought it would.

00:05:42:23 – 00:06:14:20

Richard Carthon: Which is really exciting. So you you’ve been building you identified this problem. You then saw how your audience was engaging with it and realized that there could be a better solution which went into the tokens, right? So you have the jam tokens. So it’s utility token intended to be used on the judging platform for the the power of the creator and artist communities. And you have now have a way for that token to be able to do things like vote on proposals and other things like that. So walk us through the platform.

00:06:14:22 – 00:06:19:10

Richard Carthon: So someone goes on to go jam. What are some of the things that they’re going to be able to to do an experience?

00:06:20:00 – 00:06:54:06

Sarah Figueroa: So there’s a community for everyone. Either you can join a community, some of the times they’re token gated, so you might have to have an NFT to join the community. We’re like kind of like a Discord Channel. Or you can just create one with you and your friends or you can start a new one. So it’s all about community. And then within these communities, they’re kind of like these micro economies with their own set of governance. So let’s say if you were in the skateboarding community with Ninja Houston, who’s like a four time world champion, you can go in there and you could propose ideas to him, like just do this skate move or skate track.

00:06:54:08 – 00:07:35:23

Sarah Figueroa: And then also and then he would have to upload the proof that he did it and people are using jam. And then once he upholds the proof, he gets the jam that people pull together. So it’s really getting the creators to do things and that you wouldn’t you get to be a part of content creation and we want people to experience those moments together. And then from there there’s pools. So like what should be my next merch drop or what should I skateboard? Design my skateboard for me, my skateboard line and all the fans can submit it. So there’s pulled proposals and also competitions and we, we just make it super fun and it’s kind of like a new take on governance and giving all these creators this sense of decentralization where the fans really get to be a part of their business.

00:07:36:25 – 00:08:11:05

Richard Carthon: Which is really cool, right? So being able to provide that true fandom. Being able to have the fans be able to decide the direction or different things that the creative or the creative ultimately being able to go and implement, but also creating that, that that strong user base that is bringing everyone together to to have it be in a cohesive light and participate in some of the ownership of the things that are going on. So I know that you have some really cool examples of one being a recent thing that you just did with Mariah Carey.

00:08:11:08 – 00:08:12:23

Richard Carthon: Can you give us a little bit more information on that?

00:08:13:09 – 00:08:51:15

Sarah Figueroa: Yeah, so on Geo, Jim, every community can have a jam shop as well. So in the jam shop it can be hosted by the creator. The community can put things into it as well. And so we just did our first we launched Jam Shop. That was the first one that actually accepts our token jam. And our first big experience was all for charity with Mariah Carey, and she did a boarding pass NFT with her voice over that said, Prepare to fly. And then the real utility behind the actual NFT was that you got to fly on a private jet with her to the Songwriters Hall of Fame ceremony where she was inducted, which was a huge moment for her.

00:08:51:25 – 00:09:23:06

Sarah Figueroa: And it was it just did extremely well. And it was it’s obviously like right now, I mean, we’re going to crazy time and so it did really well for we’re I and it was so exciting just to see the fans and Mariah interact and Mariah is our executive advisor. She’s the very first artist to ever come on board. And in that moment, just being there with the fans, it was like, she’s the perfect artist to be here because she loves her fans so much. And it was just such an amazing moment to see how an NFT can be used on in our jam shop beyond just the art.

00:09:24:08 – 00:09:43:26

Richard Carthon: Right. Which is pretty remarkable. That one she she came on and she did it for charity, been in this like very happy moment and very huge achievement of her life, being able to bring a fan or a couple of fans on that experience with her. And when you look across the amount of possibilities that different.

00:09:45:24 – 00:09:57:09

Richard Carthon: People who will come on your platform and creatives, creators being able to engage with their fans on on a new level. What are the like possibilities that you see happening on Gogo?

00:09:58:10 – 00:10:33:12

Sarah Figueroa: I think that’s what’s the most that’s the most exciting part. And I really am excited for the new platform because before this we were working in a very decentralized form. Like it would be like our team coming up with all the experiences we would get an artist or an athlete or somebody. We’d be like, okay, this is what we should do for them. And then we come up with it and then we put it into the jam shop, but and they were amazing, like playing video games, cooking. You be in a music video. We just did a music video shoot with Murder Beats and a fan was in it and it was like the crazy, like huge talent, which I won’t say, but it’s coming out July 8th and like a fan was in this and a part of this moment.

00:10:33:20 – 00:11:09:08

Sarah Figueroa: But usually it’s us coming up with it, presenting it to the artist team. And they need that. They need that support because they have so much like so many things going on. But with the new game and allowing the fans, it’s not about us coming up with the craziest things. It’s about the fans proposing what they want to do with this artist. So the opportunities are endless, and I think it’s better when we can all have a voice. And it’s not just a centralized team of five, a creative team being like, This is what we should do. But like the entire community gets to have a say in like we really want to do this and it’s no more guessing.

00:11:09:10 – 00:11:16:27

Sarah Figueroa: And that’s what’s really fun is we can find out what is truly important to this community and these fans and artists can find that out to.

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00:11:18:03 – 00:11:51:19

Richard Carthon: You brought up a really interesting point of like you came in to create NGO, to make it, to centralize, but to kind of get it off of its feet and to get things going. You had to set up in such a centralized way to prove the model and to kind of have that bridge going into more of a decentralized fashion. When you look across like how you keep bridging that gap between Web 2.02, Web 3.0 and and especially as you’re onboarding talent like your creators or even your. Bands that are going to be coming on to use this platform.

00:11:52:09 – 00:12:04:09

Richard Carthon: How has that challenge been to, you know, bring it to a place to where it is now to where, like you’re saying, on the new is an updated platform where now your users can really go and start implementing these proposals themselves.

00:12:05:09 – 00:12:35:22

Sarah Figueroa: Yeah, it’s been we definitely had some really good traction going into the switch I think, and that really helped us definitely to prove the model. And at first I did not want to do a web platform at all, but my co-founder Sam was like, No, we’re doing this this way. And I’m glad I trusted him because it was definitely the right decision for us personally. It just it worked out because probably when we started the company in 2019, like launch in 2020, I don’t think people were ready for like the big like Mariah Carey.

00:12:35:24 – 00:13:13:28

Sarah Figueroa: If I came in there and like we’re going to we’re a crypto company, we’re a decentralized web three social platform. Like she would have been like, What are you talking about? But now the artists, we have this like place that they already trust. So if they’re going to go into Web three, which most creators and most celebrities are now willing to do, they’re going to go with somebody they trust. And we happen to be that trusted source. So that’s been really helpful. I think the transition from Jam Points to jam, it was such a natural one for us that it just made sense because we already were training people on this rewards based economy and this utility like you engage and you engage to earn.

00:13:14:05 – 00:13:49:09

Sarah Figueroa: We were already doing that, but now there’s real value behind the digital currency. So that’s what’s really exciting. So for us it’s been a great transition. I think what’s most exciting is it’s almost like you have so many people to help you all the time and compared to like Web two where you guys are just like, okay, what do we do? What do we do next? And in Web3 you can be so transparent, you can be like, This is where we need help. Who in the community can help us? And that’s been so exciting. And that’s what we want to do for all companies and for all creators, is give them access to their community so that they can get more done and make all of their dreams come true.

00:13:50:18 – 00:14:21:27

Richard Carthon: And you just brought up a core feature of what I think Web 3.0 is all about is the power of ownership. And in being able to be a part of the community that makes decisions and to be able to reap the benefits of that. So in Web 1.0, it was all about read. You basically create a website, do a thing, and people can just go and observe it. Web 2.0. I was about read, write, being able to communicate. But again, usually you’re in user is the product and web 3.0.

00:14:21:29 – 00:14:51:03

Richard Carthon: You can now participate and be rewarded for the participation. And what it looks like GM is allowing is to reap those rewards, be able to be part of that opportunity. But then also if you participate enough, be able to go and experience these amazing things with their with their actual person or artist or or athlete or whomever, and go and have a part of that experience just by being a participant, which I think is really remarkable.

00:14:52:05 – 00:15:25:13

Sarah Figueroa: Exactly. That’s what we’re here to do. We just really want to like fans should be rewarded for the work that they put in because creators wouldn’t be anything without their fans. And so that’s like exciting is that you can become a fan and that could be like if you’re really good in that you maybe you can make a living off of it. Like, I don’t. We’re just really wanting to reward them in unique and fun. We want to like watching the fans on the private jet with Mariah Carey. We’ve also done the private jet ride with 24 K Golden before, but just seeing that is just like understanding the power of experiencing moments together.

00:15:25:19 – 00:15:56:05

Sarah Figueroa: And this is all because fans are engaging and promoting the artists. And the artists now doesn’t need a marketing team. They don’t need all of that because they have their community. And I think that’s what’s so, so exciting. And I just can’t wait to see what the future looks like if the community has a say in not just participation but actual like jobs within this community you’re in, we can create this new sense of ownership all around a specific creator, a brand or an interest or anything it might be.

00:15:57:12 – 00:16:31:22

And like you said, this is providing opportunities around creating your own ecosystems and having people who actively participate in and help to have this creator’s own, not just influence, but fan them grow. They can now immediately reap those rewards. And being a key figure and doing that and allowing that type of direct access is something that is revolutionary in its own place. But I think having the right platform to make that onboarding super easy and fluid.

00:16:32:06 – 00:16:54:11

It looks like Geo Jam is a really good place to start that. So I know you said back in 2019, on the 2020s when you all launched in now you’ve basically had, you know, three years of really refining all of this. What do you think have been some of those, like, key lessons that you’ve been able to take away and apply into into building this and has kind of set you up for the success that you’re kind of on on track to go and get.

00:16:55:14 – 00:17:26:26

Sarah Figueroa: Yeah. I think one of the key lessons is definitely just things are always really fast pacing. We also like right as we were ready to launch the pandemic hit. So that definitely like threw us off a little bit because originally it was about live experiences. Like you’re going to go backstage at a concert, you’re going to do this. And so that was like our first major pivot is just realizing like, how do we get this so that people can do it every day? And it ended up working in our favor just because people were craving this sort of connection and that they couldn’t get anymore through at a concert.

00:17:26:28 – 00:18:01:08

Sarah Figueroa: So we created those once in a lifetime experiences. We put a fan fans on billboards with Machine Gun Kelly, and we did like virtual things, and that was our first big pivot. And I think it was really scary, but overall it was definitely the right decision. So to not be scared and also going from Web, going to web3, I think that was a big transition just because it was it was major like we were going to go decentralized versus being like it was completely different than what we were used to. But just not being scared and just making sure that you’re ahead of the times is the biggest lesson that we’ve learned.

00:18:01:10 – 00:18:21:07

Sarah Figueroa: And we’re always trying to see how can we be the most innovative and really change the way that people think and how communities are formed. And that’s really what we’re here to do. And so it’s just been really fun and getting there’s been so many lessons of just hard work and there’s just there’s no way we’ll ever let this fail because we believe in it so much.

00:18:22:00 – 00:18:30:13

Richard Carthon: Right. And again, the having the resilience to go against all the various hurdles that life is throwing from.

00:18:31:28 – 00:19:02:22

Richard Carthon: Building this during a crypto bear market, going through a COVID when you’re trying to do things in real life. Also transitioning from Web due to Web three, also trying to get your talent to understand like this is the future and bringing them on to create all of that. There’s a ton of hurdles, yet you all continue to find ways to keep moving forward in that resilience I think is going to keep driving, going to be the forefront of where traders want to come and create this fandom with their what they userbase.

00:19:02:28 – 00:19:23:07

Richard Carthon: Another question that kind of came up was Do you have to be one of these superstars? And in order to be able to come on Jio, jam and participate or you know, if someone’s listening to this right now, they’re like, well, I have a pretty sizable fanbase and I really wanna be able to connect with them and provide them unique experiences, like who is able to come on and use Jio jam?

00:19:23:28 – 00:19:57:26

Richard Carthon: Of course we have a wide range of A-list talent, but we’re all creators and that’s what we firmly believe. Like we want to be responsible for someone starting from zero and coming up and anybody can come on here and create like we always use the example of like, what’s the bachelorette party proposing to each other? Or just like I one of our people on our team, Alicia, like she’s been using it to ask like what she’s going to sing karaoke. We have somebody else drinking bottle of hot sauce like we’ve just been. It’s, like, funny. It just becomes kind of like that tik tok ask thing that you can use, that anybody can use.

00:19:57:28 – 00:20:07:29

Richard Carthon: And really, it’s for everyone. It’s for the NFT communities, it’s for the creator communities, the A-listers, the micro influencers. We really built this so that it can be something for everyone.

00:20:09:02 – 00:20:26:03

Richard Carthon: Which is great. And having that access, having that type of platform that anyone can come on and immediately start participating in is is a good on board. So for everyone listening right now, they’re like, okay, this sounds awesome. I want to come on and I want to be on board. It kind of walk me through that process. Like, what does that look like?

00:20:26:27 – 00:20:49:07

Richard Carthon: Yeah. So right now you can we have an app in the app store which is strictly on game music, but you can also check out our website, GM dot com. There’s a place where you can sign up for early access to get into our beta right now and that’s where you’ll be able to start seeing all these new features that we’ve been talking about. And you can also check out our jam shop on our website as well. Or we have some other cool experiences.

00:20:50:07 – 00:21:14:09

Richard Carthon: Perfect. Well, everyone listening, make sure you go and check that out. Sara, as we kind of wrap up here, I always like to finish with a couple of fun questions and this one’s going to be kind of more entrepreneurial, intended, you know, going through a successful acquisition, starting multiple startups and going through all of this. If you could take two pieces of wisdom and impart it to yourself when you first started building, what would you tell yourself?

00:21:16:29 – 00:21:50:02

Richard Carthon: I would say one of the big ones is this is going to be really hard. I just wanted someone to tell me this is going to be really hard, but if you get up the fastest, that’s when you have the best chance of winning. So those who get knocked down and stay down, that’s not the model. You have to just get back up really fast and keep running for it and not always be learning like you never know more than anybody else. And just getting that feedback is always important. But also standing true to your mission is the most important thing.

00:21:51:04 – 00:22:17:09

Richard Carthon: Absolutely. I think those are two great gyms and really good reminders for a lot of our listeners here who are building themselves or have ambitions on building or being part of a Web three startup or any type of startup for that matter. But you’ve given us a lot of really good information, and I know I personally am excited to go and check out Doja myself. But as we wrap up here, what is a final thought that you want to leave with all the listeners?

00:22:18:16 – 00:22:34:14

Sarah Figueroa: I would want to say that making decisions just got fun. And if you come to God, you’re just going to have so much fun and you’re going to be able to engage like you never have before. And there’s going to be adventure and you’re going to get to experience moments with the people that you love most.

00:22:35:16 – 00:22:43:06

Sarah Figueroa: Excellent. Well, for all those who are again looking to engage with God and connect with you potentially, what are ways that they can do that?

00:22:43:29 – 00:22:48:25

Sarah Figueroa: They can reach out on Telegram. Also, my email is Sarah at GM dot com. Sarah with an H.

00:22:50:03 – 00:22:57:25

Sarah Figueroa: Perfect. Well, again, sir, thank you so much for spending some time with us. For everyone listening, make sure you go and check out Godin. And as always, stay crypto current.