Hi friends 👋,
There’s one question our talents have raised repeatedly:
This is a cool idea but how do I explain Talent Protocol to someone that doesn’t know crypto?
Good question, indeed. The beauty of Talent Protocol is that it’s an easy-to-grasp idea: you invest in people and get rewarded for their success. But the devil is in the details: how do you explain the investment process?
“Well, you have to get a cryptocurrency, then you have to sign up for this wallet called Metamask, but first you have to install it, then…”
One of the biggest problems the Web3/Crypto space is that its explanations are too convoluted and jargon-heavy. Web3 folks often assume way too much knowledge from people that aren’t in the space. Their explanations are too winded. Worst of all, they use no metaphors and create no curiosity.
So, let’s change that by explaining Talent Protocol for someone that has no idea about crypto. Here’s how this conversation could look like…
You: Mom, Dad. What do you do with your money when your paycheck comes and you have paid off your bills? I mean, with spare money.
Parents: We’d probably invest it.
You: I thought so. Where do you invest in?
Parents: Stocks. Real estate. Something that’s secure and has value.
You: Perfect, so you’re familiar with stocks. Now imagine you could buy stocks, but not of a company but of a person. For example, an entrepreneur like Elon Musk. You don’t invest in a company but in a person’s career.
Parents: Huhh ok, how does that work?
You: Similar to a company. If the person is successful, their stock rises. If they don’t meet their goals or don’t communicate what’s going on, people lose trust and their stock falls. Imagine it like a one-person company to invest in.
Parents: We see, ok, that makes sense. Go on.
You: Now Talent Protocol is like the exchange where people can issue their stock. But Talent Protocol is looking for interesting people with a lot of potential , not necessarily for the most well-known. For example, you couldn’t buy the shares of Elon Musk, but you can buy mine. It’s not like the Dow Jones but more like the Nasdaq or a specialized exchange. They only focus on hidden gems.
Parents: Ok, but why do they do that and why would anyone invest in these unknown people?
You: Good question. Let’s back up for a second. In your careers, have you ever come across someone that you would think would make it far in life? Or someone that you would like to help to meet their career goals?
Parents: Sure. We even had a mentorship program at our company. Even now, many talented people work there.
You: That doesn’t surprise me. That’s the catch of Talent Protocol. They combine mentorship with investing in a person. They want investors that want to help out other people and be rewarded for that, not just speculators. When these talented people update their supporters on what’s new in their careers, supporters can comment and give advice. Almost like in a board of directors.
Parents: So it’s kind of like people that invest in green technologies? That you want to do something good with your money?
You: Exactly. You do something good and you can even make a profit. If the person is successful, their price rises and you both benefit.
Parents: Ok, that’s clear. So, how does it work exactly?
You: The catch is that you don’t get stocks but tokens. You have probably heard of cryptocurrencies? Every person has their own token, which works with cryptocurrency technology, but it’s more like a stock and not like a currency. The principle is the same, though. To buy a person’s token, you go to the network and browse profiles of different people. When you see someone you like, you click buy and can buy their token with your credit card.
Parents: And then what?
You: And then you hold their tokens just like you hold a stock. The person is required to give periodic updates about what’s happening in their career, just like a company. And the best thing is that you get paid a dividend for holding their tokens.
You: Yes. The network pays dividends, so new users have an incentive to invest. The more tokens you have, the higher your dividend.
Parents: Oh ok, that sounds good. And that’s safe?
You: Completely safe because it’s on the blockchain and all data is cryptographically secured.
Parents: Hmm, ok…
You: What’s more, the tokens actually have utility because you can pay for services for them.
Parents: Oh really? How does that work?
You: Do you want me to show you how it looks in practice? It’s actually pretty simple.
Parents: Ok, let’s try…
That could be a simple explanation that covers the absolute basics of Talent Protocol. That way, create some curiosity first and then you use the platform itself for a visual explanation and more engagement. Go step by step and always remember to all the new elements to something the other person already knows (like a stock). You’ll be surprised how clear your explanation becomes.
Let’s do this. 🤝