Amanda Terry from OnChainMonkey Explains How NFT Communities can Do Well AND Do Good! (Episode 294)
In this episode, Steven sits down with Amanda Terry to discuss OnChainMonkey’s incredible history, its efforts to do well and do good for the world, and its latest collection drop – Karma Monkeys.
Amanda Terry is a Co-Founder and Chief Operating Officer for Metagood – a Web3 Business that strives to build a better future for Web3 while doing good along the way. Through its first NFT Project – OnChainMonkey (https://onchainmonkey.com/) – Metagood has simultaneously created value for its community members and made a real-world impact (https://www.metagood.com/impact).
OnChainMonkey is the first 10K PFP Collection with all images, metadata, and rarity traits to be deployed entirely on-chain in a single transaction. They were a Free Mint launched on September 11, 2021, and have traded over 14,000 ETH in Lifetime Sales. Ownership of an OnChainMonkey allows membership perks in the community, exclusive IRL event access, and votes to fund projects that benefit the community and can change the world. OCM was selected as Fast Company’s 2022 “20 Best World Changing Ideas” in Impact Investing and 1 of 8 Finalists in the Coindesk Extreme Tech Challenge Web 3 competition, which was presented on June 11 at Consensus. OnChainMonkey’s next collection – Karma Monkeys – launched Wednesday, June 29th and will be revealed Friday, July 1st to expand the OnChainMonkey Community and seed its DAO.
Amanda is also Co-Founder with Bill Tai and Managing Partner of ACTAI Ventures, an early stage fund whose thesis is that technology can bring scale and efficiency to industries and improve our society and planet. They have a global network of investors, 80% of whom founded companies. They look globally for teams building high growth companies at good valuations and have invested in Web3, Blockchain, AI, Ed Tech, Food Tech, FinTech, Dev Ops: https://www.actaiventures.com/
Amanda has over 20 years in digital media sales and business development leadership experience from Twitter, NBC, Zagat (acquired by Google), 5min (acquired by AOL), TARGUSinfo (acquired by Neustar,) and Acxiom (acquired by IPG.) She’s a frequent speaker at blockchain industry events including NFT NYC, Ethereal Summit, SXSW, and Vee Con. She has a BA from Princeton University and MBA from the Wharton School at University of Pennsylvania.
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The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:01:19:01 – 00:01:33:00
Steven Miller: All right. Welcome back, everybody, to another episode of Crypto Current, Your Connection, The World of Web3 and the thought leaders who are shaping it. Today I am joined by mandatory. She’s the CEO from net a good and on chain monkey. Amanda, how are you doing today?
00:01:33:08 – 00:01:35:13
Amanda Terry: I’m great. Thanks so much for having me on, Steve.
00:01:35:29 – 00:02:02:22
Steven Miller: And I am so excited to be talking about Unchain Monkey today. And for those of you at home that are not yet familiar with on Chain Monkey and what they’re about. Just to give you a quick overview, they’re a membership based NFT project that focuses on positively impacting the world. It’s a collection of 9500 pieces. Just earlier this week, they officially moved forward with their karma collection, their genesis collection. For that, anybody is curious, looks a little bit like this if you’re coming to us on debut.
00:02:03:19 – 00:02:06:12
Amanda Terry: But want to know, is that one of the conferences, Steve?
00:02:07:16 – 00:02:25:14
Steven Miller: That’s my monkey himself in the shape as it is. But we’ve got a great episode of today to talk to you all about the Osim Genesis collection and karma and everything around the world of metal. Good. So, Amanda, why don’t you tell us a little bit about yourself and a little bit about metal? Good non-game monkey.
00:02:26:02 – 00:02:59:10
Amanda Terry: Sure. Well, first of all, thanks for having me on, Steve. I’ve been really excited to come on your podcast. My name is Mandatory. I am co-founder and chief operating officer of Metal. Good. We’re the company behind on Chain Monkey. On Chain Monkey was an NFT profile pic collection that we launched last September. It was a free mint of 10,000 Genesis Monkeys, and it was the first profile pic collection all on chain in a single transaction, which means that all of the images and the metadata are stored on an SPG file.
00:02:59:17 – 00:03:35:29
Amanda Terry: It’s very energy efficient and kind of similar, if you think of like the French Lascaux cave drawings, as long as the theory and blockchain exists are monkeys, nfts will exist. And since then we’ve built an extremely passionate community around doing well and doing good. We’re actually one of the top NFT collections for profitability as measured by last 100 profitable trades in this somewhat turbulent crypto market. We were actually the only mid-cap NFT collection, so with a floor price of 1 to 7 ETH that has been founded over 60 days ago.
00:03:36:06 – 00:03:57:14
Amanda Terry: That increased over the last 60 days, which I pinned to the top of my Twitter. If you just go to out of mandatory, which is a really impressive stat, we have a growing holder base and extremely diamond handed community. I mean, typically only 3 to 4% of our country monkeys are even listed for sale. And yeah, we’re super excited for the moment.
00:03:58:26 – 00:04:27:18
Steven Miller: And there’s a lot to be excited about for being an ocean holder, but also for being in the NFT community at large. Because as a member of the NFT community at large, you get to observe communities like OCM, which is doing some really unique things out in the world. And you mentioned doing well and doing good, and that is one of the core missions of launching Monkey and Metal. Good. So please, if you could define that for us, because I think that a lot of people get lost on exactly what doing good and doing well means.
00:04:28:05 – 00:05:08:29
Amanda Terry: Sure. So we are 100% for profit company. As I mentioned, we’ve been a highly value creation company for our holders, but we also believe that you can do good along the way. We were actually named Fast Companies 2020 to 20 Best World Changing Ideas for Impact Investing, largely because off of the trading revenues from our NFTS, we’ve supported a number of projects basically three weeks into our collection. We had a community member decide to donate his on Chain Monkey and we put it up for sale at one for 12.5 is built up by Charlie Lee, the creator of Litecoin and Rohan Gary Google, the founder of Dapper Labs.
00:05:09:11 – 00:05:45:27
Amanda Terry: And we donated those proceeds to a UNICEF project called Giga Connect, which is bringing Internet to schools globally and basically lessening digital divide between those that have and have not. But not only did we do that donation, we then advised that group to connect on their first NFT collection. So on the 75th anniversary of UNICEF, they issued a thousand NFTS in January, which have, I believe, raised over 700 $700,000 for the organization. So not only did we do a one time donation, but we actually enabled them to have a more sustainable fundraising source as well.
00:05:46:17 – 00:06:34:08
Steven Miller: That’s tremendous. Thank you. Thank you. And that’s just if you go to met a good meta g.o.o.d dot com under our impact tab, we list a number of the things that we’ve done. One of my personal favorite examples is one of our advisors is Louis Psihoyos, who is the director behind the Cove Racing Extinction and Game Changers, and he came to us back in October because one of his buddies from National Geographic, Steve McCurry, who’s actually the photographer behind the iconic Afghan girl cover of those piercing great green eyes woman back in 1985, she and him had kept in touch, and she reached out to him to say that she felt her life was in danger because the Taliban had now gotten into Afghanistan and her as a Western icon and her family did not feel safe.
00:06:34:18 – 00:07:08:15
Steven Miller: And through our trading revenues, we were actually able to finance an operation done by Future Brilliance, which is a nonprofit out of the U.K. to get her visas and airlifted her and her family out of Afghanistan to Italy. So like literally saving people’s lives through the profits of our crypto community. And that’s another one that I’m really proud of. I’ll give you one more example. When all of this stuff was happening, Ukraine, we have such an incredible team of artists and innovators and builders that we couldn’t just sit on the sidelines and do nothing.
00:07:08:17 – 00:07:35:16
Steven Miller: And so our art team came together and they created a mosaic of 25,000 monkeys in the shape of an earth with a heart over Ukraine. And we sold that 4.1 piece and within two weeks, so raised over $185,000, then had all of our NFT holders vote for which charity go to, and they chose Save the Children for humanitarian aid crisis in Ukraine. So just those are just a few examples. There’s many more that are on our website and I definitely encourage you to check out Megacon Impact Tab.
00:07:36:26 – 00:08:08:27
Steven Miller: And there is so much good that you guys have done in just such a short time. I mean, this project has been around, as you said, since September 11th of 2021, and it’s come so far in just a very short period of time. Every time that I’ve heard you talk about that story with the Afghan girl, it just it gives me chills because it’s just so different than every other NFT community that I’ve ever personally engaged with. The level of care, the level of wanting to give back, and the level of wanting to do good for the world. It’s inspiring, truly.
00:08:09:13 – 00:08:46:14
Steven Miller: Thank you. Yeah. I mean, I think all of us believe that you can do well and also do good. It’s not one or the other. It’s not profit or nonprofit. It’s can you create a value for a community, but also help them to do to do real good. And, you know, our values are rise. If you go into our discord, you’ll see people type, exclamation point. Our ISC, which stands for respect, integrity, sustainability and experimentation, and that’s really like as a company kind of the values that that we subscribe to.
00:08:46:16 – 00:08:55:02
Steven Miller: I mean, we believe, you know, the world is facing exponential problems and it’s through the power of communities like ours to take collective action to solve them.
00:08:56:06 – 00:09:00:09
Steven Miller: No doubt. And I mean to that exact point, though, I mean, the the rise,
00:09:01:24 – 00:09:34:21
Steven Miller: I guess, word that you see popping up everywhere, it’s almost become in its own way, its own little anthem of the community. And I think that inside of the on chain monkey community, we have something very unique, right? It’s a bunch of people that have not just come together around values or want to do good, but they’re doing good for each other. They’re constantly hoping to improve each other’s lives. So within all of that, would you mind telling me a little bit about what makes Oxfam’s community so unique? Because it really is different from most other communities in the NFT space?
00:09:35:18 – 00:10:09:18
Steven Miller: Yeah. I mean, I think we can just start with the founding team, you know, and as a, as an investor in companies, you always have to look at the team, right, and see, you know, what’s, what has been their track record, what’s their mission, which their vision. In our case, I don’t think you could find a more experienced builder and investor team in the crypto space. So our chairman is Bill Tai. He has been in crypto since 2010. He was literally I guess the first investor in Xoom early investor and wish Canva, Dapper Labs, Bitfury and 23 other publicly traded companies.
00:10:10:08 – 00:10:40:24
Steven Miller: He is just a very legendary Silicon Valley investor and we’re fortunate to have him as our chairman and co-founder. Then my other co-founder and CEO is Danny Yang, who founded the Stanford Bitcoin meetup. He has a Ph.D. in computer science from Stanford physics degree from Harvard. And after he did that Stanford Bitcoin meetup, he founded My, which is the largest cryptocurrency exchange in Taiwan, and that’s been in operation since 2013.
00:10:41:05 – 00:11:16:01
Steven Miller: And then also he founded Blocks Here, which is a analytics company that basically government agencies use to find hackers. So yeah, truly incredible background. And then my background has been really more in the Web two space. I worked at Twitter, NBC, Zagat, which was acquired by Google and other video aggregation chemical was acquired by Ailes, a number of guys, companies acquired. And I also have helped to run Community for Build Ties Nonprofit at TEDGlobal, which stands for athletes, conservationists, technologists, artists, Innovators.
00:11:16:07 – 00:11:23:24
Steven Miller: We do a lot of work kind of in the ocean conservation space and also around economic empowerment. And I run a small tech investment fund, collective ventures.
00:11:25:06 – 00:12:00:03
Steven Miller: That’s wild. And to me, I think it’s kind of imperative of what’s going on within OCM. Like oftentimes on the download, right, you’re kind of among legends in a lot of these different ways, right? I believe you mentioned it earlier, but I’m going to bring it up again. You know, within the community, you also have Charlie Lee from Litecoin, you have Owen Wilson, you have Woody Harrelson with his phenomenal work for the world. And I mean, beyond that, you will meet so many incredible people. I mean, I have to give a quick shout out to not just some of the team members there, but also some of these incredible community members who I was fortunate enough to meet when I was with you guys in New York.
00:12:00:17 – 00:12:19:05
Steven Miller: And I mean, you know, you’ve got great folks like Dichotomy. You’ve got Sophia, who is in charge of all of our bigger events at NFT, NYC, and even folks on the dev team like good things. You have so many high quality individuals and they all want to do these big things together. It’s really.
00:12:19:07 – 00:12:49:13
Steven Miller: Impressive. I mean, we also have our general counsel was the general counsel from Dfinity and she also used to work at the Federal Reserve, Stanford Law, just really kind of O.G. crypto people on the art side, just because we just did our Carmen Mint. But you know, we have this incredible Hollywood award winning Hollywood animation team that was literally the team that did Ice Age, Rio and Ferdinand. They won the Annie Award, which is one of the highest awards you can win in the animation industry.
00:12:49:15 – 00:13:23:23
Steven Miller: So we’re just super fortunate. You know, I can go down the list like the whole team of employees has some really interesting people with incredibly interesting and diverse backgrounds. And then, yes, you mentioned some of our investors. We have Sebastian Borg it the sandbox founder, Holly Branson, who is the chair of Virgin Unite there, and Davis, who was formerly an NBA player. He’s doing a lot of moves in the Web free space. Gabby Dixon, founder of Big Rohan, Gary Goos Lew, Dapper Labs founder, Bobby Lee Btcc founder.
00:13:23:25 – 00:14:00:24
Steven Miller: And now he founded a company called Ballet Crypto. Charlie Lee, creator of Litecoin. You mentioned at our event on Tuesday, but I spoke on a panel with two of our investors, Apollo Ohno. You know, I think he’s the eight past even more two time Olympic Olympic medalist, also New York Times bestselling author and now a partner at Thrive Capital. In addition to Randi Zuckerberg, who is a partner at Offline Ventures and how dot x y Z we have people from I was I spoke at VidCon ran into another one of our investors gave a series of sound ventures.
00:14:01:09 – 00:14:29:10
Steven Miller: I always in consensus saw Stacy Worden Algorand CEO also consensus saw Jeff Sterling actually be founder. So you we have incredible group of investors around us and builders and that’s what’s really special being in this community. People can come in, interact with them on discord, interact with them at our events in person. And it’s just, yeah, it’s, it’s a pretty special group of people around us.
00:14:30:00 – 00:14:58:01
Steven Miller: And without a doubt, I mean, it’s a tremendous group to be among. And it’s once you’re in it, it’s a pleasure to be among them because they’re just down as as far as it goes, just really great people underneath it all. I mean, besides the limelight. Right. But you had gotten into mentioning karma. So I have to ask you, because karma has already minted out, it means that out on June 29th, can you tell me a little bit about why karma in the first place? Why did you decide to expand the collection?
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00:14:59:01 – 00:15:32:02
Yeah, I mean, so our existing the Genesis collection had about 3000 holders and we wanted to bring more incredible people into the community. And way back when Genesis launched, one of our community members, Topshot Abby, also known as Drew Winey, literally posted a monkey derivative artwork of his on a monkey. And he got so many likes on Twitter that we reached out to him, said, Hey, do you want to come work with us on our next collection? And we’re fortunate enough to be able to get him from like a top animation studio. Then he hired his boss and two other colleagues he’d work with.
00:15:32:09 – 00:16:10:09
As I mentioned before, these are like the team behind Ice Age, Rio Ferdinand. And so that team has been working on this art since October. So it’s been almost an eight month process to bring this new collection to life. We decided, you know, with the original collection, the art is relatively simple because of the restraints of all of the image and the metadata being on chain in a single transaction. And we want to just continue to bring more great people in the community and we start to kind of swing the other direction and do the most detailed, incredible hand-painted art that our JPEGs, except all of the metadata, is on chain.
00:16:11:19 – 00:16:37:03
So that was kind of the impetus of karma was to bring new people in and to offer another option with on Chain Monkey, not just the more simple art but actually very difficult technical in the in the background for Genesis but also to then have an option which people love from an art perspective. But in our collection, they’re both kind of equal. So, you know, you can be a genesis holder or you can be a
00:16:39:04 – 00:17:13:01
Steven Miller: karmas, this whole karma holder. And both of them will have votes in our DAO, which I didn’t talk much about, but I’ll get into, you know, we created a Dao a couple of months ago and really the idea is instead of Danny, Bill and me making decisions how we should spend our company funds and what social impact projects we’re going to work with, we want to decentralize that decision making process and basically have all of our community be able to propose different web3 projects and social impact projects that build the on chain, monkey community, brand and ecosystem.
00:17:13:09 – 00:17:45:09
Steven Miller: So it can’t just be completely just something off. I’m just doing some random project on the side. I want to get funding. It has to somehow tie in to the on chain monkey brand mutant ecosystem and then they can actually receive funding through our DAO also get advice from Bill Tai, Danny Yang and myself. And probably what’s most interesting I think for Web3 projects, especially new ones in the space, are, you know, getting an audience right. And, you know, literally we have 3000 holders after our mint. And I can’t tell you, you know, we’ll have, you know, 5000, however many we have.
00:17:45:15 – 00:18:02:19
Steven Miller: But all of these people are passionate, aren’t monkey NFT investors. And you have this built in audience of people that are interested in helping and supporting your project, which is probably the most invaluable thing you could get, much beyond just financial backing.
00:18:03:10 – 00:18:33:13
Steven Miller: I mean, it’s a really incredible thing to be able to bring all of these individuals together, to be able to back certain projects as the Dow takes form. Now, because when I was originally stepping into the project, the pitch behind the Dow and what was the vision for OCM was for it to become something of an accelerator or an incubator for these big web3 ideas. And people have said it’s, you know, a great comp as to Y Combinator, which then spurred the idea of this being Monkey Combinator. So to me, I love the concept itself.
00:18:33:25 – 00:18:44:28
Steven Miller: But outside of just joining up in terms of membership and the Dow, what type of benefits can a karma mentor or new karma holder ex expect from the collection?
00:18:45:28 – 00:19:18:16
Amanda Terry: Well, definitely. You know, that was you mentioned the Dow is a big part of it. We also have a concept of fundable bananas in our inner monkey ecosystem, which are things that you can earn by typing a command in our discord. And people kind of give bananas and send bananas as rewards for good behavior. So if it’s someone’s birthday, they might get sent a bunch of bananas if someone created a incredible marketing video. But on Chain Monkey that our community thought really encapsulates our values and helps explain more about who we are.
00:19:19:01 – 00:19:53:16
Amanda Terry: Though that person might get bananas, but also with, with, with outside of just that, you can use that for for, you know, real world purchases like hats are 100 banana socks. You know we had Andrew Chan come on yet your hat off from who wrote the book the cold start problem partner Andreessen Horowitz. If you get a signed copy of his book, Buying Bananas, we had Laura Shen the day after she came on. The group wrote the publish the book and come on, you’d also get a signed copy of a book with bananas. We also do a lot of URL, so we just came back.
00:19:53:18 – 00:20:24:07
Amanda Terry: As you know, we were together at NFT, NYC where we had, you know, 250 people holders plus up to two guests on a brunch on a rooftop. And we were one of the NFT NYC stages. We had official programming as well throughout the day, but basically four holders and two of their friends. So URLs such as that, we’ve done things like had Charlie Lee, Owen Wolfson and Woody Harrelson come play poker with our monkeys. Of course, the buy in was using your bananas.
00:20:24:25 – 00:20:59:12
Amanda Terry: And Charlie Lee is a shark. He actually he actually won that poker tournament. And then we’ve done things like a private discord meditation with Deepak Chopra. So actually the CEO of the Super Foundation who came and spoke at our event. And I see. So it’s a really interesting network of people that by purchasing this NFT, you are now part of this membership club. And whether you decide to just participate online and come into our discord or interact on Twitter or whether you decide to come to our IRL, events like this whole community is accessible to you.
00:20:59:14 – 00:21:07:12
Amanda Terry: And now through this DAO, we actually empower people to propose and vote for projects that they want support from the Launching Monkey community.
00:21:08:18 – 00:21:38:23
Steven Miller: And I think it’s also worth mentioning to those that are maybe a little bit more spread out around the world. You also are offering now digital events, which I think is not just me trying to make a shameless plug for the fact that I now I’m helping you guys out with that. But everybody now can start to come together and have more human interaction online, thanks to the benefits of things like discord, voice chats and Twitter spaces where we can curate these conversations for people and help them to network with each other without having to come into one centralized location. As fun as fun as that is.
00:21:39:15 – 00:21:42:03
Steven Miller: So it’s really the value back in.
00:21:42:09 – 00:22:20:29
Steven Miller: I’m glad that you mentioned that because I mean, we did that with I mentioned kind of the Deepak Chopra and a private discord meditation. But we’d like to be doing that more and just do specific, you know, utility for holders online because we do have an extremely diverse audience in terms of, you know, global representation. I think we’re about 70% in the US, maybe 20% in Asia and the remaining kind of Europe and stuff. So, you know, we do have on chain monkeys that are volunteering to do meetups all over the world for us, but also we want to make ourselves accessible to people also online.
00:22:21:28 – 00:22:51:13
Steven Miller: Yeah, it’s fantastic initiative all across the board. But I think there’s so much more to get into here because you just announced it across the last couple of weeks, the expansion into also monkey missions. Right. This all stems from the idea that you may have heard of, if you’re familiar in the NFT space, at home with the Moon Birds collection and what they announced with nesting. So can you at least paint a little bit of a picture for us on what you envision for monkey missions and how this whole thing kind of will work for monkey holders going forward?
00:22:52:02 – 00:23:27:12
Amanda Terry: Sure. So we just started this last week where you could send your monkey animations if you go to the on chain monkey com website and you collected connected your wallet, you’ll see all of your monkeys or one monkey, however many you have on the website. You can go on the website and add a story about your monkey, if should you choose to. And you can also decide to send your monkey on a mission, which this first mission is to nest or hodl that NFT for 30 days, and then you’ll get a reward, which I’m you know, we like to kind of gamify this, so I’m not going to say what the reward is quite yet, but there will be interesting rewards.
00:23:27:14 – 00:24:03:27
Amanda Terry: You can almost think of it like a Boy Scout or Girl Scout program where you go on missions and you earn different badges based on the missions you went to. But that badge could be fungible tokens like our bananas or it could be, you know, additional nfts. And I won’t give away what this first one is going to be. But they did. As we’ve art, we’ve created this really incredible incentive system that gets people to tweet about things. We did a discord, discord, integration and Twitter integration. So, you know, every time you type a command in discord or you tweet with on Chain Monkey and you’ve connected your wallet to on Chain Monkey, you can earn bananas.
00:24:04:04 – 00:24:41:12
Amanda Terry: So people are engaging in online behaviors. So obviously, you know, also online to like hold your NFT but you can imagine as we keep building out our monkey verse, it could also be real world events that people are motivated to go to. And I’m sure you promote the concept of pull ups, but when people go sometimes it can be a Twitter spaces, sometimes it can be a live event and you can earn kind of an NFT, which is almost like a badge of showing that you attended something that’s in your wallet. So there could be some very interesting nfts that people could earn that again, kind of allow you to level up in this monkey verse.
00:24:43:01 – 00:25:15:27
Steven Miller: Yeah. Which is awesome because for those that are not familiar at home with collapse, they are meant to be the proof of actual participation or a bookmark of your life. And in these sorts of situations, I guess they’re kind of more so pitches like proof of monkeying around, which I love. It’s a it’s a really fun little aspect to the community and bring people together. So as we look forward for anybody at home, the commitment is behind us. Now, you can of course, purchase your own karma monkey on Opensea through the official collection. For more information on launching Monkey, of course, go to on chain monkey dot com.
00:25:16:04 – 00:25:20:08
Steven Miller: But Amanda can tell the folks at home how to best connect with you and the rest of the collection in the community.
00:25:21:02 – 00:25:46:22
Steven Miller: Sure. I mean, we live in discord. So thankfully, we have a great team of mods who are working all the time round the clock to cover questions. So I would hop into the on chain monkey discord. You can also follow us on Twitter at On Chain Monkey. My personal Twitter is at a mandatory r, r, y. So I think those are the best ways to connect with us. Discord and then Twitter.
00:25:49:00 – 00:26:04:04
Steven Miller: Well, look, Amanda, it’s been a pleasure chatting with you today. I really appreciate you taking the time to tell our community a little bit more about what On Chain Monkey is about and what they can expect out of the upcoming karma reveal that’s just around the corner. So thank you again and I hope that you have a great rest today.
00:26:04:21 – 00:26:06:23
Steven Miller: Great. Thank you so much for having me on, Steve.
00:26:07:10 – 00:26:17:13
Steven Miller: Fantastic. For those of you at home, we hope you’ll stay with us next time for our next interview. Here were our aftershock episodes on Wednesday. We will catch you up with the news. But until next time, we hope you stay. Cryptocurrency.
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