Joey Poareo join us to discuss on Bringing a Community Driven Incubator to Space on Inuyasha.io.
Joey Poareo has been in board and executive positions across multiple industries from blockchain technology to mental health rehabilitation/healthcare. He has led philanthropic efforts in providing housing and care for close to 50 children.
The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:01:12:15 – 00:01:27:17
Richard Carthon: Hello, everyone, and welcome to another episode of Crypto Current, your host here, Richard Carthon. And today I have a special guest all the way on in Oregon, working on a ton of amazing projects. But the one that we’re going to be focusing on today is called Yasha. We have Joey, who’s one of the lead team members with us. How are you doing today?
00:01:28:09 – 00:01:31:22
Joey Poareo: Hey, Richard. I’m doing very good. Thanks, man. Thanks for having me.
00:01:32:16 – 00:01:43:12
Richard Carthon: Of course, man. Well, excited to learn more about Yashin. All the amazing other companies you have going on, especially all the doubters. But before we do that, I want to learn a little bit more about you. Give us a little bit of background on yourself.
00:01:44:26 – 00:02:20:03
Joey Poareo: Oh, shoot. Well, I’ve I’ve worked my whole professional career in startups across multiple industries and have worked as deal flow aggregator for for like a bench, you know, venture capital deal flow. And so, yeah, our whole team has a lot of experience in startups. So for Yasha, as an incubator accelerator fund, it just it made a lot of sense. We’re just really well positioned to help new projects, you know, move through towards launch and into attaining some type of market share.
00:02:20:05 – 00:02:22:18
Joey Poareo: So that’s that’s my background, I guess.
00:02:22:20 – 00:02:27:12
Richard Carthon: So that’s cool, man. So tell us about that first introduction to crypto. How did you first learn about it?
00:02:28:18 – 00:03:05:02
Joey Poareo: Oh, my goodness. Well, my brother was an early bitcoin investor, so he would show me quite often on bitcoin. My childhood friend actually founded Mew, which was one of the original theory and wallets MyEtherWallet. It’s a foundation of many theorem wallets. Now, today I have another childhood friend. One of my closest friends is a founder over at Olaplex on Solana, which is the maybe the main Olaplex Metroplex is probably the main Solana NFT marketplace, so have a lot of friends in the space.
00:03:05:04 – 00:03:17:04
Joey Poareo: I worked on some early ETH projects prior to the hard fork and I took a break after they got hacked. And now, now we’re back in a totally different realm. It’s it’s pretty exciting.
00:03:18:10 – 00:03:30:23
Richard Carthon: Yeah, quite the journey there. So. So tell us about that. You come back into the space and one of the many projects you’re working on is called Yasha. So can you tell us a little bit about what it is and what the goal is with with it?
00:03:31:21 – 00:04:08:01
Joey Poareo: Yeah, exactly. So Yasha is a decentralized incubator accelerator fund. And so we use like DAO governance to determine the best projects that we want to put forth and incubate. And these can be, you know, anywhere on a super accelerated timeline from, you know, one month or even less, depending on how well that team has their their stuff together to, you know, multiple years, depending if that project needs a lot of incubation, you know, and a lot of the time up to up to market.
00:04:09:08 – 00:04:44:18
Joey Poareo: And the Dow really comes together like all the entire community comes together with, whether it be positivity, technical skills, marketing skills, graphics, internet type services, whatever it might be. And we we all come together and incubator project and launch the project together. And so it’s it’s turned out we’ve had some very great successes so far. Yasha, from Inception achieved a five hundred and sixty x cliff token, achieved a 400 x at all time high.
00:04:45:18 – 00:05:16:03
Joey Poareo: Our poUce project achieved a two hundred x. Our Neco project achieved a two hundred x. Most all of our projects achieve over 100 x pretty quickly after after launch. It’s kind of what we’re we’re sort of known for right now, but we really want to be known for trying to improve this space. None of our projects are just basic, you know, copies or cookie cutter type projects. All of them are novel and new innovations in their own right.
00:05:16:05 – 00:05:25:22
Richard Carthon: So right now, that’s that’s pretty amazing. And to have an incubator has had. Well, first of all, one hundred x pretty, pretty remarkable. The fact that you’ve had multiple
00:05:27:10 – 00:05:48:26
Richard Carthon: looks like you have a formula that is working. So for people out there that are listening to this and like, Oh my gosh, like I’ve always aspired to create an incubator or want to be a part of it. What would you say are some of the key components of being to create the successful launch and community of bringing one of these projects to market?
00:05:50:12 – 00:06:21:24
Richard Carthon: Well, we have a really amazing community is the thing that’s like first and foremost, we have knowhow in startups and we can apply that knowhow those skills into blockchain to launch projects. The main thing is that we have, you know, over 10. And people inside of our ecosystem. And so during our launches, they know what the game plan is. All of our Dow members, if they so choose, can can get pre-sale into the tokens.
00:06:22:08 – 00:06:58:20
Richard Carthon: And so like just to put it in perspective, our Clif token pre-sale was a $400 contribution from our DAO members if they wanted to be a part of it. And that turned into about one hundred and seventy thousand dollars within four days. Wow. So our DAO members are very happy and there they know what the game plan is. They know they need to hold the floor. And so they’re they’re out there shilling and marketing and really contributing on a technical level as well. So that’s you can join the Yoshi Dao and access presale for these upcoming launches and be part of the whole incubation process.
00:06:59:27 – 00:07:11:00
Richard Carthon: That’s cool. I was actually going to be my next question. So basically anyone who’s listening to this right now, who’s interested in potentially becoming part of this DAO, you’re able to join at any point.
00:07:12:06 – 00:07:14:04
Richard Carthon: Yeah, yeah. Yeah, you’re more than welcome.
00:07:14:12 – 00:07:26:29
Richard Carthon: So that’s that’s cool, man. And on this, I know again, you’ve incubated quite a few different companies and you brought up a couple of different DAO that you’re working on as well. Do you want to kind of speak on any of those?
00:07:28:03 – 00:08:00:26
Richard Carthon: Yeah. Well, I think this this will actually differentiate us from a lot of the other, you know, dilutive type projects in the space just in general. Our next project is called the Science DAO and what it is, it’s a decentralized think tank or inventive thought. And so the Dow would come together and choose, you know, the most promising ideas or inventions and incubate those and then provide funding for for those projects.
00:08:01:13 – 00:08:38:28
Richard Carthon: And so some of the people that we have involved on our science panel, on our advisory panel, we have a professor of finance from Oxford University. We have the head of endocrinology at the University of Toledo. We have various well-known scientists that have achieved, you know, awards in the sciences and some of the projects in the pipeline. Just to give you guys a perspective of what we do and how we’re we’re much different than some of these dog tokens or, you know, whatever, whatever you guys see out there, we you know, the University of Toledo has a cart treatment for type one diabetes.
00:08:39:00 – 00:09:19:03
Richard Carthon: So that’s in the pipeline. Our first incubator project with the science DOE is avatar creation for the Unreal five engine, in which the avatars are able to use sign language in in the Metaverse. So if you’re hard of hearing, you’ll be able to type in your avatar will actually be able to speak with sign language. So just creating an all inclusive type metaverse for the future. So that’s the science, though it’s it’s a pretty novel concept and there’s a lot of very cool people involved. So coming up here, we actually have the professor of finance doing an AMA inside of our discord, and so he’ll be giving a lecture on the finance.
00:09:19:28 – 00:09:22:22
Richard Carthon: It’s presented as a big educational component to it as well.
00:09:23:17 – 00:09:58:04
Richard Carthon: Yeah, that’s that’s pretty phenomenal, man. The fact that again, you’re trying to make things inclusive, being able to create an avatar that can perform sign language like that’s pretty. This is definitely one of the first companies that I’ve heard trying to to do things like this and with being able to get these. Community members and different people that it will be a part of this deal that have both the background and the credentials to be able to keep moving a lot of these different objectives you have for it looks like there’s a lot of potential for things you all can be going after.
00:09:58:06 – 00:10:04:22
Richard Carthon: I mean, I know you kind of just spoke on a couple of them, but like, what do you think this these kind of like doors can open up and lead to?
00:10:08:18 – 00:10:36:15
Richard Carthon: Hey, cryptocurrency, Drew. This is Steve Miller, and I’m the host of CSI Live show that keeps you up to date with what’s poppin off in crypto land. Every episode of CSI Live brings you the latest news, keeps you updated on the top projects in decrypts everything you need to know to get ahead in the wild world of Web3. So if you really want to stay cryptocurrency, join Richard, Chris and I every Tuesday and Friday at seven p.m. Eastern, only on YouTube Live. So what are you waiting for? Subscribe to cryptocurrency YouTube channel today and as always, stay cryptocurrency.
00:10:40:12 – 00:10:42:06
Richard Carthon: Oh my goodness.
00:10:43:23 – 00:10:44:08
Richard Carthon: Yeah,
00:10:45:11 – 00:10:49:20
Richard Carthon: I mean the the types of inventions coming out of the science, do
00:10:51:16 – 00:11:03:01
Richard Carthon: you know they really have no no bounds for for what people would be able to accomplish? And the projects coming out of the auction, I mean, it can be it can really be anything.
00:11:05:06 – 00:11:29:07
Richard Carthon: I mean, it’s like the the portfolio within our incubator is so like from from games, you know, from game NFT integration, you know, integrated gaming to the sciences. It’s it’s a it’s pretty wild. Sorry, there was somebody. There’s somebody kind of waving at me out there in the background did. So I probably I probably hear of it. So, yeah, my bad though.
00:11:29:09 – 00:11:33:09
Richard Carthon: No, no, no worries. So as a follow up question to that?
00:11:34:24 – 00:11:43:13
Richard Carthon: You have a quite a few different doubts that you’ve been able to put in place, so you have the science style, but also believe you had one specific to plants. Do you kind of tell us a little bit about that one as well?
00:11:43:28 – 00:11:49:02
Richard Carthon: Oh yeah, the the plant down, it’s the token is called sprout.
00:11:50:18 – 00:12:23:23
Richard Carthon: Basically, the there the team, the the team, that’s a group of unreal five developers and they’re building trees, graphic assets of trees that you’re able to plant inside of the metaverse instead of the Unreal five engine. And these trees, the smart contracts, they they have included the concepts of growth and decay. So the tree starts out, you’ll get an NFT of a piece of fruit like an apple, and you can plant the apple and the tree will grow, and that metadata will show on OpenSea.
00:12:24:11 – 00:12:59:05
Richard Carthon: As your tree grows, your NFT will actually become different. And that tree, depending on the the catalog, the catalog, the catalyst of how you’re staking your tokens, your NFT will actually be able to produce more NFT. So it’ll produce fruit and you can harvest the fruit and then you can plant more trees. So 80 percent of the proceeds from the NFT sales and volume goes to reforestation efforts. And so so far in the last month since inception, they have donated to plant one hundred and forty thousand trees so far.
00:12:59:07 – 00:13:14:07
Richard Carthon: So they’re doing they’re doing a phenomenal job. It might be the best use case in crypto. Let you know what I mean. Like you, you buy you and you plant trees all around the world. So one hundred and forty thousand trees in sub-Sahara Africa, which is really cool
00:13:15:18 – 00:13:42:15
Richard Carthon: and it’s extremely cool, and it’s it’s pretty sick that there are so many unique ways to set up a DAO and then have it come back to real life opportunities, but then also things within the Metaverse. And I believe that you were also telling me about another potential project that where you can see the NFT kind of mature over time. Was that also what this problem was that a different NFT project as well?
00:13:42:21 – 00:14:09:17
Richard Carthon: Yes, so pokey is is the other project and and it uses the same smart contracts as Sprout, where the the the NFT can actually grow up. So with poetry, it’s a dog NFT. It starts off as a puppy. And really, where they’re targeting, at least with their charitable efforts, is is people that that need like emotional support, animals that can’t actually have animals,
00:14:11:10 – 00:14:49:12
Joey Poareo: kids, you know that they want a dog, but they can’t. They can’t have that. They’re not in a place where they can actually have a dog. And so creating like the most realistic, the most realistic digital pet that you can have like to the point where I think the Unreal five team they’re working on developing with Simba, some air glasses. So if you’re wearing like the air glasses say and you’re walking down the street, your dog can actually be walking next to you. And then, yeah, and then the token is actually like the dog food, right? And so you need to be staking your token in order to to make your your your dog grow essentially right.
00:14:49:14 – 00:14:56:24
Joey Poareo: So if you’re not taking care of it, it’s not going to end up in a very, in very good shape that reflect in the metadata on OpenSea as well.
00:14:56:28 – 00:15:06:13
Joey Poareo: So which is really unique? And again, it just goes to show when you are part of an incubator and getting IS have exposure to a lot of amazing projects.
00:15:08:16 – 00:15:23:15
Richard Carthon: I imagine it becomes challenging to decide, OK, which ones do you want to take on? Which ones do you want to say, Hey, come back later, et cetera. When you think about the projects that you decide to bring into the Yasha incubator, what are some of the criteria that you’re looking for?
00:15:24:27 – 00:16:03:29
Well, the team is usually the most important in part, so we want to know who the team is, obviously, and see, you know, even if they don’t have all the skills right now, can can we help, you know, with mentorship or advice? Or can we add people on to the team? So like we we’ve brought in people like our friend Anthony, who is he’s vice president of an investment bank. He’s the former CFO at cardea chain. We brought him in and added him to specific teams. We’ve added other people into, you know, into various teams to kind of round out, you know, to create more strength within that team.
00:16:04:07 – 00:16:32:18
But I think the biggest criteria, at least for me and my my my team can can speak on their own behalf, but I want to be able to see a path forward. Right? Like what is the path forward specifically? So for Pochi, for instance, we don’t really know, like we know what the the market cap of of, you know, we know how much money people spend on their dogs each year. Right. We know how many products they buy for their dogs and we know how many people.
00:16:34:06 – 00:17:21:04
Richard Carthon: Actually, by dogs, we know how many dogs there are, right, there’s so many different metrics, so so many data points for dog owners out there. So what is the like? We don’t know the true demographics of the metaverse, how it will expand. We don’t know how many people will want digital animals, but we think that it’s like a million people, right? Maybe a million people in the entire world want a digital pet? OK. When you’re talking about creating a in an NFT collection of 10000 and selling 10000 NFTs right of a picture of a duck or whatever, whatever is out there? Right? Like, we have a board a you know what I mean? Like, I can’t wrap my head around why we spent so much on a board, but we did it.
00:17:21:18 – 00:17:52:22
Richard Carthon: But there’s 10000 of them right for the dogs. I actually truly see a path forward where like, instead of 10000 is potential over time for people that will interact with the Metaverse and become involved with the metaverse and that want digital animals that they can take care of for their children. Emotional support, animals, whatever. Is there a million people? Can we sell a million pokie NFTs, right? Because at a $200 price or whatever it might be, that’s that’s a revenue potential.
00:17:52:24 – 00:18:28:06
Richard Carthon: Two hundred million is is that revenue potential? Is it? Is it two hundred million people, you know, like how many people like what are the demographics? So that’s what I mean by seeing a path forward towards towards real scalability and towards attaining market share is really what I look at. Specifically, the rest of the team probably has their own data points that they look at. But for me, it’s it’s a true scalability in future demographics like five years from now. What is the market share going to be? Do we see a path to attaining that market share? And yes, then it’s we’re willing to try it
00:18:28:18 – 00:19:03:08
Richard Carthon: right right now, for sure. And I appreciate you explaining that criteria on that same note as we look into the future. There’s a lot of excitement in the world of crypto. There’s a lot of different buzzwords, of course, everyone’s looking at whether it’s DeFi, DAOs, NFT, etc.. What do you think as we’re now in early twenty twenty two? What do you think if you had to define by the end of this year, what will this year be known for? Is it the metaverse is in a tease? Is it DeFi? What’s your what’s your call on? What’s this year going to be all about
00:19:05:09 – 00:19:06:06
Richard Carthon: who?
00:19:06:08 – 00:19:12:12
Richard Carthon: Well, you know what? So right now we’ve been tasked. I’m going to say this on a personal note, I guess.
00:19:14:09 – 00:19:42:07
Richard Carthon: You know, I’m not the most knowledgeable, OK? I’m not an investment expert. I’m not a lot of these things that people seek us out for advice on, OK. But for us, we’ve been tasked with helping the sovereign nation of Native American tribes in North America develop their own national currency as a sovereign nation. And I want to say, just on a personal level what I would want to see. I want twenty twenty two
00:19:43:25 – 00:20:14:08
Richard Carthon: to be known for when the Native American tribes of the Americas are able to create their own sovereign nations currency. That’s that’s what I want. Twenty to twenty two to be known for metaverse. Obviously big buzz word DAO is a big, big buzz word, but you know, depending on how the people, you know, don’t supply and accumulate supply at the top. I mean, you’re still in a Wales game, you know that that’s that’s it.
00:20:14:10 – 00:20:44:08
Richard Carthon: So I think that’s one of the bullish cases for the science overall is, you know, the there’s retail investors, but then also for science now, the people that you’re onboarding, as you know on the advisory panel are, you know, biotech funds, institutions, universities, right? These are like the types of investors or Dow participants that you’re onboarding. So it’s I don’t know, man, what do you think? What do you think twenty twenty to be known for? You know,
00:20:44:18 – 00:21:29:29
Richard Carthon: Ben, that’s awesome. First, I just want to definitely call back out. It’s amazing that you’re getting to work with, uh, trying to create a sovereign national currency for Native Americans here in the States. That’s awesome. Good luck. I hope that is the year 2020 was a year for that, because that would be really, really special. My hot call on the year is, I think this is going to be a big year, a resurgence of DeFi. I think a lot of as more retail investors start to come in and even institutional investors come in and they start to look for diversification away from the regular markets and also realizing that traditional banking, if you have, you’re sitting on all this cash and you’re only making maybe one percent and you can go into crypto and be making a lot more than that.
00:21:30:01 – 00:22:02:25
Richard Carthon: Um, I think there’s a lot of opportunity in the world of DeFi, so I think that DeFi could see it’s it’s its second coming, if you will. It’s it’s round two of a lot of substantiated attention and refined down like lending skills that a lot of people are going to start to realize and participate in. But of course, there’s a lot of other things to look at. I think NFT also is going to have a pretty solid year as well. But that’s my hot take. But Joey, man, we thank you so much for spend some time with us.
00:22:03:01 – 00:22:21:24
Richard Carthon: Always like to wrap up with two fun questions as we go through this. My first question for you is going to be with all of the information that you’ve been able to gather through creating this incubator. If you could get one the two pieces of wisdom right now that you have from when you first got started in this, what would you tell yourself?
00:22:27:15 – 00:22:28:04
Richard Carthon: How
00:22:29:26 – 00:22:40:26
Richard Carthon: do it do it because of the project, not because of the the the money? I know that the parabolic gains are fun and everything, but at the end of the day,
00:22:42:12 – 00:23:24:25
Richard Carthon: you know, things like a sovereign nations currency or the science, they’re much bigger than the potential gains that that you could have. And then also remember to remember to spend time with your family and spend time in nature and spend time being a human, a human and a three dimensional world, guys. That’s that’s what I would say, because at the end of the day, although we’re essentially in a metaverse on the internet and Telegram and Discord and YouTube, it’s almost a metaverse, right? We can communicate with so many different people and and experience each other, communicate, you know, multi dimensionally, right? Not not just on a three dimensional level.
00:23:25:04 – 00:23:31:21
Richard Carthon: Don’t forget to pick up a hammer and build things and fish and be be a real human human being.
00:23:31:23 – 00:23:36:14
Richard Carthon: So for sure now appreciate that I think is a really good piece of wisdom
00:23:38:02 – 00:24:14:09
Richard Carthon: as much as we have been between COVID times and just being a lot more decentralized, even with being with remote work. It’s always good to keep making those in life IRL, in real life connections and spending time with family. And again, like you said, for projects that make a lot of sense to our listeners right now, for everyone that’s listening to this, if you find a project that makes a lot of sense for you. Yes. If you can make your money, make your money, that’s great, but also understand if there’s a greater good or a bigger meaning into why you’re getting in behind a project that could have a lot of merit as well.
00:24:14:11 – 00:24:21:27
Richard Carthon: So make sure you keep considering that. But Joy Man, as we wrap up here was a final thought that you want to leave with everyone here today.
00:24:24:04 – 00:24:25:12
Richard Carthon: Oh, my goodness.
00:24:29:07 – 00:24:35:12
Richard Carthon: I don’t know, man. Check, check out Yasha. We have the science Dow coming up
00:24:37:24 – 00:25:04:02
Richard Carthon: on that, sir. Final thought. Just a thanks for having me. And final thought, guys for real. Thanks to everybody involved. Deregister, Jess and Co Z buddies. Everybody said there are so many people, guys. There’s over 50 people working on this thing and thousands of people inside of our ecosystem. So just thank you everybody for first stepping up and being a part of it.
00:25:04:12 – 00:25:10:28
Richard Carthon: So awesome. Great. Great final thought. Joy, what are ways that people can connect with you and learn more about Yasha?
00:25:11:27 – 00:25:23:12
Richard Carthon: Oh my handles peyote one on Telegram. Twitter. I don’t tweet very often. I just made my Twitter, but it seems to be doing well.
00:25:24:27 – 00:25:45:27
Richard Carthon: And then any of the Telegram’s guys I’m on, I’m on B.S. quite quite a bit. I’m usually the one to break the news. But if you go to New York, should I go? You can join the Discord or the Telegram, and I’m usually typing in the announcement channel and sending notifications out to everybody and then working in the background as well. So.
00:25:47:07 – 00:25:53:01
Richard Carthon: Awesome. Well, sounds good. Everyone listening, make sure you go and check that out. And of course, stay cryptocurrency.
00:25:54:20 – 00:26:32:13
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00:27:03:12 – 00:27:34:00
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00:28:04:15 – 00:28:07:08
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00:28:11:28 – 00:28:46:18
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