Welcome to EARLY, the podcast about web3 business from Bankless Consulting.
DSide's guest today is Patrick Workman, the VP of Growth & Partnerships at Unlock Protocol. Patrick has worked at prominent companies like Google, Instagram, Pinterest, Experian, and Instagram. Patrick begins by discussing the background of the Unlock Protocol, a platform that leverages NFT technology to create memberships. He highlights the value that Unlock brings to companies by enabling them to generate predictable and recurring revenue through on-chain subscriptions and time-locked memberships.
The conversation then turns to the evolution of crypto-wallets. Patrick emphasizes the need for greater accessibility to wallets, enabling a larger audience to participate in the crypto space. He also discusses the AlphaTweet application, as well as highlighting the benefits of blockchain technology for enabling sustainable micro-transactions.
Patrick also touches on the importance of reducing reliance on large online platforms and third-party payment processors, empowering creators to make a living on their own terms. He references the book "Long-Tails" and discusses the infrastructure available to independent artists and creators through Web3, emphasizing the need for improved distribution.
The episode concludes with Patrick speculating on when we will witness the first "Mega-band" fully embracing Web3 for their content. He references token-gated ticket sales as an early example of what is possible.
In the closing moments, Patrick shares his dream projects, which include working with Unlock Protocol on token-gating subscriptions with Netflix and exploring on-chain advertising. Overall, this episode provides valuable insights into the intersection of NFTs, membership platforms, crypto-wallet accessibility, and the future of Web3 for creators and the entertainment industry.
***Timestamps***
0:00 - Patrick Workman’s Background
10:00 - Background on Unlock Protocol
14:20 - You don’t need a wallet to buy/claim NFT Tickets using Unlock
23:20 - Unlock & NFT Ticketing & the connection to music
35:10 - Thoughts on crypto-wallet & evolution
38:01 - AlphaTweet application & its value-proposition
49:35 - Enabling creators to make a living on their own
52:20 - How do artists break the mold to become fiscally-sustainable
56:45 - When will we see the first ‘Mega-band’ go full-on Web3 with their content?
66:01 - Web3 wallets vs. Traditional Bank Accounts
69:11 - Patrick Workman’s Dream Project
***Additional Resources***
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***Links***
20. Patrick Workman: Creators, Corporations & Communities - The Real Value of NFTs