SO THIS IS THE NEW YEAR AND I DON’T FEEL ANY DIFFERENT
JANUARY 2ND, 2024
TL;DR: marketplace, DAO, token launch, venue, book, revenue sharing, gamified curation, incentivized engagement, soon.
I’ve been writing this post for over a year.
The circumstances have changed but the sentiment is the same.
This time last year I was set to launch the UNDRGRND Marketplace and begin onboarding artists featured in the publication. The day before the beta launch the developer decided he wanted to renegotiate the contract. The developer was from a previous relationship with my co-founders who gave me a job and handled the business side of UNDRGRND. I was not involved in the negotiations or project management of the site. I left the tech and business to them, they were my bosses, and they could handle it. The renegotiation devolved into legal recourse; lawyers were contacted but deemed too costly considering all the money that had already been put into the development of the site.
So there we were on January 1, 2023, a publication, community, and gallery that I had spent two years developing and a marketplace that would never be seen by the public. The beginning stages of the bear market were already showing. I assumed the bear market would be my time to shine: a new marketplace with gamified curation and incentivized engagement, supported by a publication and gallery, with the financial support of a DAO to purchase work.
It would have been exactly what we all needed.
That’s my skill set. Many of my friends and followers have creative skill sets I’m in awe of, but my ability to see a need, and work to create a solution to fill that role, is how I fit here, with every talented individual.
I expected to be a life raft and found myself treading water alongside everyone else.
I began scrambling. I have bills and responsibilities like everyone else. I needed to find a way to keep this going while also preparing for the possibility it would end. I put aside writing, editing podcasts, social media posts, recruiting artists, and buying art. I began working on materials for accelerator programs, foundation applications, and grant requests. I made pitch deck after pitch deck, a business plan mapping out the next ten years, and submitted it, everywhere.
One of the slides in a version of my pitch deck uses OpenSea as a metaphor. Many artists came to this space seeing the large sales numbers, total volumes, and market caps and thought it would lead to financial success. So many minted their first NFTs, tweeted, and waited, only to be met with a resounding thud of nothingness.
I had the same experience submitting my deck and plans asking for funding. Nothing.
From an early pitch deck circa March 2021
(If you’re reading this as an artist, musician, or creative and it sounds familiar, you’re in the right place).
I pitched to a few VCs, incubator programs, and foundations and felt close a few times, only to find more nothing and a lack of responses.
My former bosses hustled and found success in other projects allowing them to continue their operations but it meant I lost what little support I had as it took their focus away from UNDRGRND.
I was alone.
I was stressed.
Depressed.
I wasn’t sure if the thing I’d poured everything into would continue or if it would have to fade away into the background while I went back to teaching. So I took control of UNDRGRND and gave myself a year.
So now I was in charge of everything which amounted to essentially nothing.
I’ve been doing this for three years: building, writing, recruiting, searching (digging), planning, developing ideas, watching others succeed, and waiting for my time.
But what do I have?
Experience? Knowledge? Passion? An Idea?
Audience ≠ Community
Waiting on others does not work. Depending on higher-ups to do what is right for the community, for all of us, not just the top collectors or artists, does not work. I see influencers make millions while producing nothing, scammers suck money out of projects, and everyday people's true colors come out once they find success. How is this any different from the real world or web2?
Maybe that’s not fair though. Maybe that wasn’t their dream or why they came to crypto, web3, or whatever the fuck you want to call all of this.
Why did I come here? I came for social change. The idea is that web3 promises a more equitable and sustainable future for those left behind by real-world elite one-percenters. The mentality that we were coming together as a group of individuals to begin to build better hooked me. For decades (centuries?) we’ve been kept out of the discussions with the decision makers of what better looks like. Or worse yet, we were included and they’re still not listening.
Before the price speculation, the hype cycles, the influencers, the cliches, or the shill threads, crypto was a revolt, counterculture. Bitcoin was an underground movement in retaliation to the financial collapse of 2008. Then DeFi promised the possibility of being your own bank. NFTs brought ownership to your creations.
So why have we brought the same broken web2 capitalistic models that many of us came to this space to reform?
It’s what is familiar.
It’s how we survived in the past.
In one of my favorite essays, Brain Dead-Megaphone, George Saunders criticizes the state of media consumption and our focus on the loud, the hyperbolic and how individuals get sucked up in that machine, “A young friend who writes content for the news page of an online media giant, e-mails me: “I just wrote this news headline for my job: ‘Anna Nicole’s Lost Diary: “I Hate Sex.”’ If anyone wonders why Americans aren’t informed with real news it’s because of sell-out corporate goons like me who will do anything to never deliver a pizza again.”
Even those with good intentions fall prey to the same capitalistic ideals to ensure profitability, sustainability, and our basic survival. We can say this is about the art, music, or the creative process all we want but the harsh reality is that it is also about the money. I’m not immune to this, I got roped into this because I thought I could make money writing. If we accept that truth then we will agree that the distribution of the wealth, the recognition, and the power remains unbalanced.
I came into this space because I saw the opportunity for creatives to retain ownership of their art, and their creative spirit while finding financial freedom so that they could sustain themselves from their creations. I envisioned a world where appreciators, fans, and collectors could invest in unknowns to help support them and would be rewarded down the road when they become mainstream. I envisioned a sustainable, stable ecosystem where artists carved the path toward a more progressive equitable future.
I thought this was how things could change.
I came to build bottom up.
Bonfire of the Humanities
Whether we’re talking about visual art, music, written or spoken word, or film it all teaches us and communicates to others what it means to be human; why we’re here and why we’re alive. It’s about what we think and feel. So let's talk about that.
If we take the time to talk about this, to talk about what you create, the money will follow. There is value in humanity and the money attached to it simply acknowledges that value.
The artist puts their humanity into their work. People acknowledge it by paying for it. You can’t give away your humanity for free. It comes at a cost.
A part of you is given to that person when they buy your work. So let’s tell them what they are going to buy. Let’s tell them why it should matter to them. Why you have value. Why you’re willing to part with this piece of you.
So why are so many of us willing to accept a pittance in return for that humanity? Why do so many of us beg to be seen as people of value to influencers, collectors, or gated communities? If the majority of us (and even the decision-makers for larger organizations) agree that community is what drives the value, why are we accepting the same old hierarchy of things?
We’re negotiating with our unintentional captors, hoping their humanity recognizes our own.
It’s familiar and we’re responsible for accepting it.
Web3 is supposed to be the technological solution to cultural and societal problems. Look at most white papers and there will be ideas of reformation, empowerment, and disruption. Many tech-oriented, buzzwordy, incubator programs look for “disruptors” when those disruptors simply replace and become our new captors. Uber disrupted transportation and became the same taxi service. Netflix disrupted film and cable industries to become the film and cable divisions run by the same producers and executives from the old guard. Spotify, Apple, Google, pick any industry and you will find upstarts that sought to change the dynamics at play only to eventually become exactly what they claim they sought to change.
We know that really good art can also become very valuable in the future…if the right people see it and say the right things about it. How many artists, bands, or movies would be loved if only more people knew they existed? If true art is honest then we deserve to be honest with ourselves. How the art market is currently structured does not benefit us all. Rather than democratizing the art market, we’ve recreated the same hierarchy system of galleries and museums. The intended disruption settles into familiar old ways.
Why does this happen? The answer to all your questions is money.
How do you disrupt archaic oppressive socio-economic norms for good?
How do you avoid becoming what you seek to destroy?
Sell-Out, With Me
Throughout any submission process for funding, you have to answer what your project is, what it does, and what it means for the audience. The most common question is, What Problem Are You Fixing? When you hear the word underground regarding art, music, or film, odds are you understand what that means. Underground is a ubiquitous term used throughout our existence.
OK fine, here’s a definition of underground:
(often initial capital letter) a movement or group existing outside the establishment and usually reflecting unorthodox, avant-garde, or radical views.
I see UNDRGRND as a revolt against the greed and current economic model of the creative industries, the same way the mp3 and Napster took down a broken record industry model. Lately, it seems more and more people are beginning to understand who holds the power.
The other night I saw a Tom Hanks interview discussing the role film and artists play in social change. So how radical are my views if Tom Hanks agrees with me? Especially when the cryptocurrency industry was founded on those radical views.
Pronoia is the belief the universe is conspiring for your benefit. This felt like that and why I ran to the tv to take a picture with my phone like a grandpa.
Maybe the definition of underground needs an update. Maybe it means something as simple as genuine. Genuine creation. Genuine appreciation. Genuine movement towards change.
Every artist is an underground artist until they’re not.
Bitcoin started as an underground movement and now we’re on the cusp of a Bitcoin ETF. Mainstream adoption is inevitable and necessary. Usually, when something becomes mainstream, people like you, but especially curmudgeons like me, will feel it lost something. Whether you call that something lost edge, integrity, or authenticity it all boils down to that dreaded label: selling out.
What if you didn’t have to sell out though?
Why can’t independent mean successful? Why can’t equality be lucrative? Why can’t we achieve a redistribution of wealth to the deserving? Why can’t we reward ethical behavior? Or reward interactions that add to the conversation, rather than a hot take? What if album artwork was valuable? What if a small zine was profitable? What if we didn’t rely on donations or the generosity of the community?
What if you could keep your creative integrity AND be financially successful?
Curators > Algorithms
A reason Napster was successful in the late 90s was because the independent artist had a shot. Music blogs began to pop up all over the internet. It was how many of us discovered new music and began to shape our taste. Previously ignored by major labels, genres that never made it to the radio or even a recording studio suddenly began to gain traction. The community around Napster thrived because of the sharing and the dialogue occurring. It connected us with friends, helped us make new friends, and expanded our realm of what was possible. We shared music but we also shared ourselves.
The idea of sharing data is just as important as what data is being shared. Biometrics, location mapping, and purchasing habits help AI learn our taste in music, movies, and art (could the rise of AI increase our need for human curation and validation? A topic for another time). If you have this information you can then begin to predict what art, or music will become popular next. We’ve given this information away, for free, to tech firms so that we can be marketed to, and sold an ad, or product we don’t need but loosely relates to our interest resulting in trillions in profit.
And we’re beginning to do the same now without realizing how important it is.
Our opinions matter, especially to us, and we think it should matter to others. It’s why we read the opinions of others, discuss our own, and grow from them – one of my favorite movies (and books), High Fidelity, captures this perfectly. The whole movie captures a lot of my personality, and my formerly hard-lined beliefs surrounding music, art, and film. But, now that I’m older, softened, it’s the ending, with John Cusak focusing on his partner’s taste to make a mixtape full of things she likes, that I think communicates how our likes and dislikes shape our lives. A perfect metaphor for relationships and what it takes to maintain a healthy loving relationship.
These things define us.
It’s why we vote on things that we like: music, movies, art. It’s why we enjoy discussing top 5 lists (and why UNDRGRND DIGS features five artists). Sometimes we lack the proper articulation of our feelings, thoughts, or ideals and turn to these art forms to help us communicate them to others (e.g. a mixtape). We can use our money to validate those people who help us shape our worldviews, personalities, and emotions (it’s why UNDRGRND purchases work from the artists featured in UNDRGRND DIGS).
Art can save the soul and foundations on which crypto was based.
Einstein Never Said That
Before the next bull run, the next wave of users before the masses return we need to ensure we don’t repeat the mistakes made in 2021. We need something to do away with shill threads, engagement farming, and the hype machine that only produces FOMO. We need better, genuine “influencers” that don’t spam your DMs to offer promotions. We need to do away with the hollow cliches with no change in behavior (The definition of insanity is doing the same thing over and over again and expecting a different result).
We need to redefine community. An actual community shares in the means of production and the compensation. Our community, as a whole, does the first but misses out on the latter. How often do artists make a sale here to turn around and pump their earnings back into the ecosystem? How many curators are also artists? How many “failed” musicians know a great song when they hear it and share it with others? How many film students have the knowledge and ability to discern what makes a film good and enjoy discussing it with others? How many people who studied literature can write about these topics and communicate their taste in art, music, or movies to others?
These individuals drive the transactions all blockchains seek. They make the markets, set the trends, celebrate discoveries, and drive the value to the creative experience. They deserve to be compensated as such.
You deserve compensation for your community building.
Where the F*ck is this Going?
It was during a pitch to one of those institutional investors that it occurred to me that they were antithetical to what I was building. Why would any investor want to fund something that fundamentally disagrees with their ROI models?
I was in a shill thread and I was pitching old-world crypto influencers.
I was offering the opportunity to the wrong people. I should have been offering it to you.
I never wanted to do it this way. My role is to help others, not others to help me. That’s not how I operate. I wanted a finished product. I wanted to hand it to you all on a silver platter and say here, enjoy. But the personal greed and focus on short-term monetary gains I despise, were exactly what delayed this operation. Maybe that’s one of the reasons I’m so motivated to do things differently.
I’m not good at asking for help. However, the hardest lesson I’ve learned this past year: I can’t do this on my own.
That’s kind of the point of the community. You’re not supposed to do it on your own. The work and the benefits are shared.
This was the only way this ever could have happened.
With all of you.
The idea is simple: a marketplace built with gamified curation putting the power of influence in the hands of the community members, it’s called DIG IT. It incentivizes the discovery of and promotion of undervalued creators; it incentivizes curation. Rather than the power remaining in the hands of one or a board of curators, it must be given back to the community. Artists tired of always selling and promoting themselves will have a home alongside individuals motivated to seek out the undiscovered. The notion that only a select few know what art is, or what should be discussed, is a fallacy. We all have selective tastes and if we can back up our claims, it is true. That’s the beauty of subjectivity.
DIG IT works with a token, GRND Token/$GRND, with distribution, focusing on engagement with the content, rewarding quality conversation, and those who support artists, musicians, and filmmakers. With staking rewards offered to onboard communities of the self-proclaimed degens or potential collectors previously wary of their taste in art.
I never wanted to build just another marketplace. That doesn’t serve my purpose. It doesn’t serve anyone. There’s enough that currently exists that UNDRGRND will continue to support. There is enough room for all of us to exist. If we all are supposed to make it in this space then that means we all need to make it. If we want to be better than the old dynamics we left the real world to reform here then that means being different. So a large percentage of revenue will go back to the community members who support the creation of the marketplace.
This will all operate under the newly formed DAO, which will hire writers, video editors, community managers, social media managers, and all other types of employees to fulfill a multitude of needs. Members will play a role in shaping the direction of the UNDRGRND Publication, decide on purchases for the UNDRGRND collection, UNDRGRND drops, and the shows that occur at the UNDRGRND Venue.
This month, I’ll provide the details, dates, how to get involved, and other announcements amidst articles and podcast episodes.
Until then, keep your ear to the ground.
UNDRGRND.
— NFTjoe, Founder
