MediaCoin LLC is an NFT commerce company that helps people create, mint, market, and sell their NFTs in the Metaverse for profits. Today we talk to the Founder
Jeffery Freilberger about the utility for NFTs in the near future. Many people think that NFTs are just jpegs to be bought and sold. But this could not be the future from
the truth. In this sit down with Jeffery he will explain the many uses we will have with NFTs and how they will be a part of everyday life soon…Enjoy.
MediaCoin LLC. Founder Jefferey Freilberger
How are functional communities built with NFTs?
It’s my opinion that Functional Communities, in the case of NFTs, are built around the roadmap of what the NFT project ultimately has in place to accomplish. Getting a community to see the project’s vision is key to consumer buy-in and long-term NFT ownership accompanied by support.
What is the relationship between community engagement and NFT equity values?
It is completely relative, and I feel it continues as the project grows. Relaying updates on progress and communicating to the NFT collection holders to keep them updated is crucial to maintaining an active community. If you successfully retain this, it will give value to the project because of the constant support of the others involved. It can also attract popular types like celebrities and media influencers, further creating attraction to others trying to get in.
Related: Practical Use Cases for NFTS
How have NFT use-cases changed since the introduction of the ERC-20 standard?
Though there are many NFTs minted on Ethereum, I haven’t seen many use cases so far in the case of issuing smart contracts with NFTs. I think you’ll be seeing a lot more of it this year as more and more people become educated on the further uses outside of selling just art with NFTs.
What are the typical NFT use-case scenarios within and outside community settings?
NFT smart contract application is literally endless. For example, you can create music publishing contracts, blockchain automobile titles, create smart contracts to purchase retail products, lock credit info that can’t be taken, eliminate unauthorized credit payments, eliminate identity theft, track your prescriptions with real-time data, etc. All of these examples, though completely different in nature, all can be improved with Blockchain Tech, which integrates the use of an NFT’s smart contract to allow it.
How are NFTs the gateway to engaging communities?
They are the first small part of a much bigger picture of Metaverses and what they can do in them. I think everyone wants to be a part of a changing world. NFTs are definitely doing that. As we evolve forward as an NFT market and their integration in Metaverses, I see the excitement only growing with communities built around projects. We are at the forefront of creating a whole new world in many cases around NFT functions and utilities many will participate in.
Please, can you tell us about MediaCoin LLC and the services you guys offer?
MediaCoin LLC is a one-stop shop for anyone trying to get into Web3 Blockchain apps for their project, which includes NFTs and Tokens, or just want to launch their own NFT/ Metaverse project. We create NFT projects along with launching our own to integrate into our MediaCoin City Metaverse. We offer space and integration in our Metaverse for those looking to grow with us. Not only are we a team of full-stack developers that create, mint, code, etc. in-house, but we have a solid understanding of Web3 Blockchain applications, so we are very fast and efficient. We cover all the bases from celebrity marketing to physical products in the Metaverse for sale. We do it all.
How has the MusicCryptoGeeks project fared in the NFT space?
So far, it is right in line with our roadmap for the project. We just got done doing an event in Miami with Dave East of Hulu’s Wu-Tang: An American Saga, as well as shot two music videos with up-and-coming artists similar to the many major music products we’ve been a part of in our career. We are launching this slower than most are used to in the NFT space due to us being the opposite of just flipping art. Our collections are packed with tangibles, utility functions, company ownership, and entry into our MediaCoin City Metaverse built-in Unreal Engine 5.
What role does NFT exclusivity play in the determination of equity value?
The real equity value of anything is always tied to an asset or utility. No matter what, if an NFT of a new 2023 Corvette is purchased for the price of a real Corvette and the NFT is tied only to the purchase, then that NFT is by market standard worth what the MSRP of the vehicle is. This is just a small example, as you can do the same with fractionalizing purchases of assets to back the value of the NFT in case you need to liquidate, or the asset is used to create additional revenue with benefits to the current owners of the assets. Another way an NFT can have an equity value is when it is purchased, it actually buys equity in the project or entity.
Related: What is NFT Virtual Land?
What other gaps do you think NFTs will fill in the web3 space?
Too many to list. That’s my answer. Too many to list. We haven’t even begun to implement the applications to unlock Web3 potential that uses NFTs as delivery agents.
What impact have celebrity projects made in the adoption of web3 technologies?
If they fully buy into a project, the impact is night and day. With the impact of direct-to-consumer interaction, social media followings allow the range of these celebrities to add a tremendous amount of value. Marketing doesn’t change anything, whether it’s Web3 tech or not, and celebrities attract a lot of attention to whatever they endorse. For example, one “check this out” from DJ Khaled on his Facebook hits more than 20 million people instantly, and that’s just Facebook. That doesn’t include Snapchat, Instagram, etc. Numbers don’t lie. That’s a lot of people for a single person to have real instant access to.
Are celebrity NFTs just a fad, or do they generate genuine curiosity in web3 technologies?
I have a lot of experience in Celebrity brand integration and can speak confidently on this. Celebrity endorsements get the attention of the public. The public is very receptive to a celebrity’s stamp of approval, which always seems to jump-start a brand on its journey. The projects or brands then have to stand alone to be as good as they have been endorsed, which comes with proving concepts, showing growth, relaying transparency, etc. Celebrities are the spark, but the product itself or NFTs launched have to live up to the hype.
Please, can you tell us about your charitable activities?
Of course. For many years I have been a huge supporter of the Wounded Warriors Foundation with all my past brand projects and events. My father is a retired Marine, and I grew up on a military base pretty much the majority of my life. As of lately, we have been supporting the Protect Yo Heart foundation with a really great guy and founder, UnCutt. You can catch UnCutts work when you are down in Wynwood or New York. The charity supports wellness both culturally and mentally and includes a number of celebrities. We have also identified charities such as Love Camera Action and others we are targeting to support as our company and NFT projects grow.
What are the critical industries that NFTs are set to change?
I can’t think of one that won’t change eventually or indirectly be impacted.
How did your background in securities enable a smooth transition into the NFT space?
I think it really sets us apart. We are treating this as if real ownership is a given, transparency, staying compliant, and growing a real company just as a company on the stock market is supposed to do. I feel very fortunate to understand securities and stocks as NFTs and Crypto have mirror-like similarities. The idea of an NFT backed by assets or a DAO offering any kind of return is, by definition, security. It is also why we will be filing a Reg A+ to convert all our NFT owners into official shareholders of MediaCoin LLC so that they will always have the security of the SEC to police us. Eventually, all NFT companies are going to have to go down this road as there currently is no protection for someone investing in DAOs or NFT projects now.
What do you think is slowing the NFT adoption rate?
The fact that NFTs really have no value as a picture alone. It is only perceived value. The adoption rate goes through the roof when the NFTs sold are actually attached to projects they depict or represent a utility function. An example is if you purchase an NFT for a new truck, and that NFT is the title transfer for this new truck. Once the NFT for the truck is purchased, you pick it up or have your new truck delivered. Now you have a say, $50,000 NFT you paid for, along with a $50,000 truck you really have. If you want to flip that NFT, that truck goes with it, and the title transfer can be blockchained for authenticity and notarized.
Do you have any takers for celebrities, individuals, or institutions who are set to enter the space?
Yes, we have a very long track record of celebrity partnerships over the years. We are currently working on projects now for a handful. The market is wide open in this space for those who know how to put these together for clients.
Do you have any projects you’re involved in that include other web3 technologies such as DAOs or gaming?
Yes, MediaCoin LLC is a Web3 Blockchain Tech company that I am an owner of. We currently have clients that we’ve developed NFT platforms for and consult. We also have our own NFT portfolios that we are currently starting to roll out, like MusicCryptoGeeks, TechnoVikings, Killa Apes, and others. MediaCoin City is our Metaverse; that is where all our NFTs will be tied into that we are developing in Unreal Engine 5. Here you will be able to play a multitude of UE5 developed games, visit restaurants, attend college classes, attend concerts, meet and mingle with community members, and never know that what you are looking at isn’t real in Virtual Reality.
What impact will the current cryptocurrency market downturn have on the NFT space?
It’s down but not out. If it were going away, it would have been gone long ago. What you are seeing is a direct result of all that is going on in the world as a whole. We are experiencing some tough times economically, and these have largely been affected by world events over the past few years now. Crypto and Stock both tell the same story. If crypto was the only problem, then the stock market wouldn’t be doing the same thing. The crypto market will bounce back, and let’s be honest, it hasn’t hit bottom as many anticipated it would. That alone should give the community confidence that, yes, this really does have the support of the right people, institutions, etc., to only grow past weaknesses and continue growing past this.
How can new NFT use-cases drive the recovery of the cryptocurrency space?
Though there’s nothing wrong with paying for just the art if that’s your thing, not many have utilized an NFT’s real capability. If an NFT represents a tangible good or service, then it is no different than buying something from a physical store or buying a service in the real world. The NFT now has a tangible value and not just perceived value. The NFT just allows for the transaction. The transaction has the security of the decentralized blockchain. The NFT’s value is now justified by the item it gives you in the physical world.
What role will millennials and Gen Z play in improving NFT and web3 adoption rates?
I believe we are in a whole new era of innovation. We have applications lying all over the place that many intelligent people have developed over the years. The advancements needed to bring all these into a working Metaverse are nowhere. Soon you will be able to visit virtual worlds that individuals can create with applications in things they love or want to find solutions for that anyone can visit anytime from anywhere. The fact that you can throw a VR headset on and talk to an ACTUAL doctor instantly when you need to see someone instead of having to make an appointment and wait hours if not days now solves just one simple but big problem we have now in the world. Just imagine the possibilities of all these kinds of approach can be applied to, and I bet you could stay up for days writing down ideas of platforms you can come up with yourself. The fact that we can now do this unlocks a lot of what we are as humans to use our imaginations as adults, and I think we’re going to see a lot of great things come from this. I know we at MediaCoin LLC will be doing our part to contribute.