Protocol-Based Crypto Building
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A business built on top of existing crypto protocols to create dynamic NFT trading cards for professional athletes, with the first success being LaMelo Ball's digital cards.
Key Components:
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Technical Infrastructure:
- Built on existing crypto protocols rather than creating new backend
- Uses Ethereum blockchain for ownership tracking
- Frontend-focused development with slick website design
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Product Features:
- Dynamic NFT cards that update based on player's real-world achievements
- Pack-opening experience similar to physical trading cards
- Multiple tiers of rewards/cards with different probabilities
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Business Model:
- Initial drop with LaMelo Ball generated over $300,000
- Other NBA players, including major stars, reached out for similar deals
- Protocol takes a cut of every transaction
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Go-to-Market Strategy:
- Founder had experience helping artists go viral on TikTok
- Got media coverage through ESPN announcement
- Success with first athlete (LaMelo) led to inbound interest from other players
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Key Innovation:
- Using existing protocols allowed quick development without deep technical expertise
- Focus on securing athlete partnerships rather than building technology
- Dynamic updating based on real performance creates ongoing value
34:01 - 35:16
Full video: 01:18:56SP
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.