Ep 51: Disrupting the Live Events Industry with Ed Vincent, CEO of Festival Pass

In this episode of Dr. Brook on the Block, Ed Vincent shares his story of how he went from Web2 to Web3 and how Festival Pass is using blockchain technology to change the live events industry.

Ed Vincent is a serial entrepreneur and the co-founder of Festival Pass, a membership-based marketplace for live events. He has over 20 years of experience in the industry, including stints as an investment banker and interim chief data officer at MoviePass.

This is Ed Vincent's story...

Ed Vincent is the founder of Festival Pass, a subscription-based marketplace for live events. He has been involved in the web world since its inception, and is now incorporating Web3 technologies into his business. Festival Pass is a membership-driven marketplace, and NFTs are available exclusively to members of the Founders Pass. NFTs are used to package and deliver benefits to members, such as discounts on tickets and access to exclusive events.

In this episode, you will learn the following:

1. What is Festival Pass, and how can people use it?

2. How is Festival Pass different from other ticketing services?

3. What are the benefits of holding an NFT with Festival Pass?

Connect with Ed:

Founders Pass NFT: https://family.festivalpass.com/

Website: https://www.festivalpass.com/

Free Download:

The Words of Web3 - A comprehensive glossary of terms used in the space https://mailchi.mp/9d043022b5a0/words-of-web3

Connect with me:

Instagram: https://www.instagram.com/drbrooksheehan

YouTube: https://www.youtube.com/c/DrBrookSheehan

Twitter: https://www.twitter.com/drbrooksheehan

Transcript

[Dr. Brook Sheehan]
 Welcome to another episode of Dr. Brook on the Block. It's time to grab a seat, buckle up, and take a ride with me through the wild, wild west of the Web3 universe, where we're going to learn all about coins and tokens NFTs and contracts, digital real estate in the Metaverse and so much more. There's a lot to get through on the bluff, but I am here to pave the way and help you avoid those nasty pitfalls and rug pools so you don't get hurt. I'm going to also introduce you to some interesting characters along the way. Are you ready? Your ride starts now.
 
 [Dr. Brook Sheehan]
 Hey. Hey. Dr. Brook here with another epic ride on the Web3 wild, wild west. I am joined by my copilot today, Ed Vincent. He had an early career as an investment banker and started his first e commerce business in 1999, which sold in 2001 during the first iteration of the Internet. So way back in the web one days are you okay?
 
 [Ed Vincent]
 I said web one. I was joining you in that. All right.
 
 [Dr. Brook Sheehan]
 We're keeping that in there because I love that. So to continue on on that, he went on to create a 70 person experiential agency that helped develop and operate large scale events. So this agency owned a film festival in the Dominican Republic and created branded hotels with Maxim magazine. This experience for Ed fermented his love and understanding of the magic that live events create. As a person myself who loves live events, I know that magical experience and what that's like. Ed was then personally asked to spend time as interim chief data officer, which is super cool, at MoviePass, which grew to three and a half million subscribers and at one point had the best moviegoer data set in the United States. He then did some work with led him into the study in the transition of a successful subscription company called Class Pass, which I am familiar with. That company got sold for more than a billion dollars and then moved from a traditional subscription business to a credit-based currency that Festival Path is based on today. This expensive learning that Movie Path and Class Pass went through provided him and now Festival Path, a clear path for success. Thank you so much for being here at I look forward to all the knowledge and experience you're going to be bringing to the show today. Thank you.
 
 [Ed Vincent]
 Thank you, Dr. Brook. Happy to be here.
 
 [Dr. Brook Sheehan]
 Yeah. So one of the first questions and for those of you who listen to the podcast frequently, you know, I love to ask my copilots all the time what their intro story is into Web3. Everybody's entered this space in a weird, interesting kind of way. We've all gone down the rabbit hole and I'd love to hear yours, Ed.
 
 [Ed Vincent]
 Yeah. So, I mean, thank you for that extensive introduction. In general, you've already taken us through my web one time frame and into my web two time frame. So the question is, how did I get from web two to one three? And being an entrepreneur for over 20 years, it was always kind of looking at the forefront of what's next and where new technological advances will enable different kinds of businesses to happen. So when we really started a festival pass, it was right before the pandemic for the good or the bad. It's a little crazy to launch a live events company during a global pandemic, but in a silver lining, it actually worked out well. We were able to focus on building some of the technology throughout the time frame and build a bunch of the partnerships that got us to where we are today. But during that time, the concept the festival will pass. In general, while the marketplace is a web to underlying current technology, all the philosophical sides of Web3 were embedded in what our business model was from day one, which is a membership driveriven model in which a community can come together, share passions and interests, and find a way to engage together and participate in both ownership and community. So for me, and this is really getting into your question is for me, when I've always been interested in blockchain in general, less so the defy cryptocurrency kind of world in the early days, just very much from a data and technological perspective, what blockchain could possibly do for every industry. And then as the times evolved and of course the joke is that 2021 was the year of the NFT started seeing a little more. Even though we're so far away from mass adoption of NFDS or crypto in general, and we're still so early in the game, there obviously became this place where people started recognizing some value in this thing called an NFT and then what does that actually mean? So being more excited about the underlying technology and the philosophical perspective of what it could do, a couple of years back, I really just started thinking of, well, how can we apply some of these Web3 technologies and philosophy to what we're doing? So when you talk about the onboarding side, it was really a gradual perspective of just understanding and wanting to be part of this feature. But also the trigger of the NFTs got me to dig deeper into, say, okay, well, what is this NFT thing? You can't just be art. It's got to be more than that. And I dug deep and fully understood what a smart contract actually is and then going forward, what it can do for a business like ours.
 
 [Dr. Brook Sheehan]
 I love it. It's such an amazing journey. You've been a part of the web world since it first began and here you are and now you're incorporating Web3 and doing what you do. I'm going to set the NFT conversation a little bit to the side because I want you to first, I want people to understand what Festival Path is and what you guys are doing. I understand a little bit now the story on what led to Festival Path with understanding class Path and movie Path and kind of your history there, but explain what Festival Path is and how people can utilize it.
 
 [Ed Vincent]
 Sure. So at the simplistic nature, it is a marketplace for live events, a subscription, membership for obtaining tickets to live events. So people pay a monthly or an annual subscription, and for that monthly or annual subscription, they receive credit. And we can get into some of the things you mentioned about why a credit based currency, and with those credits, they can redeem them for events and hotels that we have in our platform. So we have over 80,000 hotels throughout the year on our platform. So if you have credit in your account and you see an event you want to go to, that could be a concert, it could be a football game, it could be a Broadway show, whatever you find on the platform and you want to go, you just redeem your credits as you check out for those tickets. So the concept of having a membership model is there's a lot of benefits to it. I always kind of joke with people when I try to explain it and use the analogy of Amazon Prime, and I can't say we're not that large and we're not that robust yet. But when somebody says, well, why do I have an Amazon Prime account? The answer nine out of ten times is the same. And I'm going to ask you, why do you have an Amazon Prime account?
 
 [Dr. Brook Sheehan]
 Free delivery.
 
 [Ed Vincent]
 Yeah, you answered it. Right. The nine out of ten people, they get it for free shipping, and they get discounts on at Whole Foods, and they get free movies on Amazon Prime and End. But the point is, you got there for a reason, and then therefore, you got all these other benefits. So you're saying to yourself, well, I might as well just keep it, because it's the thing that keeps giving me value time and time and time again. So for us, that shipping on our side is ticketing fees. So when you're a member of Festival Pass and you obtain a ticket, you don't pay ticketing fees. And that has been a rub in the kind of ticketing industry for decades where consumers are very frustrated more about the transparency of the way it's presented. Right. So you go in and you typically buy $100 ticket, and sometimes, depending upon which platform you're on, by the time you check out, it's $150. And you're like, what happened? Where did that come from?
 
 [Dr. Brook Sheehan]
 Yeah.
 
 [Ed Vincent]
 And it's just frustrating. Right. So we're committed to never putting added ticketing fees on top. So that's our free shipping. And you happen to get discounts on hotel rooms, and you can redeem your credits for hotels, and you get some access to some really cool events, and there's a great community, and you can discover a lot of things. And we'll keep adding to that end. As we grow the business, there will be more and more perks and benefits just for being a member of festival festivals.
 
 [Dr. Brook Sheehan]
 That's incredible. That's awesome. I can totally relate to the frustration. You go to purchase a concert ticket ticketmaster. Like you said, it's $100 and then $25 per ticket. So if you're getting two of them, $25 per ticket just in processing fees, even if you go to the box office, you're still paying those fees. It doesn't matter if it's online or right at the actual venue, and it's like, what is this processing fee? So, festival path, I know that there are different levels, monthly levels. People can currently there's gold, there's platinum, and there's a founder's path, and each of those levels are different price points per month, and they give you a certain amount of credit. What happens in the case of, let's say I'm here in San Diego, so let's say I wanted to go to a padre game, and I know that you guys have padre tickets on your website. That is one of them. I was like, oh, that's so cool. That's my team. But if I wanted to go to a padre's game, and let's say I had 30 credits, but the ticket was like $60, do I have the option of, okay, I pay my fee monthly and I get my 30 credits, can I purchase also additional credits through the platform to be able to obtain that ticket?
 
 [Ed Vincent]
 Yeah. So there's multiple ways we set up the infrastructure, right? So as you mentioned, the lowest membership is $19 a month, and then you can pay up, and then the founder's membership is $99 a month, and you get a different amount of credits for each level. So there's multiple ways you can obtain that ticket. One is your credits do roll over. So as long as you're a member in good standing on the platform, your credits continue to roll over month to month if you don't use them. So it's not a use it or lose it kind of concept for the traditional subscription membership. And if for some reason, almost like in the airline world, if you have points but the ticket costs a little more, you can buy more credits. So if you have 30 credits in your account, you need another 40 credits to buy what you want to buy. You can buy a credit block of 50 credits or a credit block of 100 or 250 credit. And the cost of those credits is directly correlated with which account you have. At $19 a month, you're paying slightly more per credit, and at $99 a month, you're paying less per credit. So the simple concept is, the more engaged you are and the more you've committed to that monthly subscription at a higher tier, the less you pay per credit. So you always pay less for tickets. So if you're the founder $99 a month member or the annual founder member, you're always going to pay less for tickets than other people.
 
 [Dr. Brook Sheehan]
 Awesome. So then we went a little bit into, like, ticketmaster. I use them as an example, but how is Festival Pass different? Other than not having the ticketing and processing fees on top of that and being able to have the subscription model? How are you guys different than the big competitors that have been out there?
 
 [Ed Vincent]
 Yeah, so we do think of ourselves as a membership driven marketplace. So there are other ticketing services out there that might have a similar offering of tickets. And of course, we try to build relationships directly with different events in addition to making sure we have a large population of events on the platform. But the idea of having a membership versus being transactional is a little of the few things I was mentioning when I was giving the analogy of the Amazon Prime is we're different because you have a membership, you get the benefits of not paying the fees. And we'll continue adding more and more great benefits because you're a member. Right. So over time, people will start seeing more and more things they can do, whether it has special access to an event that we pre negotiated tickets for backstage or VIP access or something like that. Right. So we continue to find unique things we can offer our members.
 
 [Dr. Brook Sheehan]
 I love it. I love it. Sounds all so beautiful. Okay, so let's go back a little bit and talk about NFTs. I know that NFT's are currently right now with your guy's platform. NFTs are only available with the Founders Pass, which is the $99 a month you get exclusive NFT drops to the artist. Or I would imagine also like the sporting goods or the sports stuff, like with players, maybe NFT drops that MLB players drop or things like that. What does that look like and how is that being utilized right now? Is there NFT projects that are created that are utilizing Festival Pass right now?
 
 [Ed Vincent]
 Yeah. So currently, and I'm not sure if you're able to see this, but we have our own. Our first NFT, which is not necessarily an artist or a specific NFT related to a specific band or player or anything, is our own. We call it the Festival Family, and it's a collection that exists today of 100 lifetime founder NFTs. Okay, so today, if anybody goes to our microsite for the NFT, which is Family Festivalpass.com, what they'll see is that they can purchase an NFT. And the reason we call it Festival Family is because we're selling the NFTs in drops of 1000 apiece. And each of those thousand make up there's ten drops, and each of those ten drops make up a total of 100.
 
 [Dr. Brook Sheehan]
 Right.
 
 [Ed Vincent]
 But each of those drops have a different art that relates to the type of audience member that there is. So our first drop, if you end up going to the website, you'll see a character. We call him Legend, and he's like a rock and roll guitarist and real cool guy. The thousand drop of Legend is what the art is, right? This is purely a utility driven NFT. The art is just, in my mind, is packaging. You go buy a product, you get some packaging around the product, right? As long as the product is good, you want to see some cool packaging. So we have some cool packaging. I'm confusing it a little, but the cool thing about the lifetime founder NFT, for all 100 of them, is that you get a lifetime of live events. So every single person that owns that NFT can connect it to our platform, and they'll receive $200 of credits to attend live events in perpetuity forever. Every year. Once you own the NFT, every single year for as long as you own it, for the next five years, ten years, 20 years, whatever it is, every single year, your account gets refreshed with another $1200 worth of credits.
 
 [Dr. Brook Sheehan]
 Wow. So that's $200 worth of credits, and in addition to them, so it's $99 a month.
 
 [Ed Vincent]
 No, the NFT has nothing to do with the traditional subscription model.
 
 [Dr. Brook Sheehan]
 Oh, wow. I didn't see that. I didn't catch that part. I missed it on the website. I apologize. But that is really cool. So you are the holder. You have it. You get the $200 worth of credits. You can go to concerts, you can go to games, you can go to Broadway shows, you can have hotels, do all of that, have experiences in life, and still have, like you said, the digital aspect of it is just the packaging around it. I totally followed you with that whole analogy. So do you have the option then? I would imagine if it's utilizing smart contract technology and NFTs, where, let's say, I don't want to be I don't want to hold this anymore. Like, five years have gone by, I decided I want to put it on the secondary market. That's an option, right?
 
 [Ed Vincent]
 Absolutely. It's an NFT. It's a digital asset.
 
 [Dr. Brook Sheehan]
 Perfect. Oh, that's so great. And may I ask what chain you guys are like? Where are you guys at?
 
 [Ed Vincent]
 Yeah. So it's on Ethereum.
 
 [Dr. Brook Sheehan]
 Okay.
 
 [Ed Vincent]
 So it's on the Ethereum blockchain. And the one unique thing that we're doing in the drops that it's worth willing to share is it's different than most typical drops is we're doing 1000 at a time, and currently we just launched the first thousand, and we're selling it for a specific price. It's zero 95 Ethereum.
 
 [Dr. Brook Sheehan]
 Okay.
 
 [Ed Vincent]
 And then after that first thousand sell out, the second tranche will open up, the second drop will open up with different art, and that will sell for slightly higher than that, and the third one slightly higher than that. So by the time you get to the 10th drop, it will likely be between two and three Ethereum. The idea those who support early and get in early have a pretty significant economic benefit in terms of what they're doing. So the idea, like you just said, is if somebody bought in today at zero point 95 Ethereum, which for the good or the bad ethereum is only at about $1250 right now.
 
 [Dr. Brook Sheehan]
 Yeah.
 
 [Ed Vincent]
 So the idea is somebody could actually buy one of these entities today for the equivalent of about one $200 and immediately get $100 worth of credits. And then every year thereafter you get $1200 more of credits forever. So it's probably the best deal in town that's ever existed in the world of NFTs as we exist today.
 
 [Dr. Brook Sheehan]
 Not even just in the world of NFTs, but what you get for that twelve. I'm over here like, I got to grab one of these because I go to concerts all the time. I don't go to a sporting event as much as I go to concerts. But it wouldn't make sense to start going to these things or even I was checking around, hotels are on there. There's like a $400 hotel or 400 credit hotel that would pay for the hotel stay too.
 
 [Ed Vincent]
 Of course. Yeah, it's a great deal. And for us, honestly, people always ask like, well, if it's such an amazing deal, how can you guys do that?
 
 [Dr. Brook Sheehan]
 Right?
 
 [Ed Vincent]
 The truth is, when you look at the overall perspective of what we're doing, the best deals happening right now for these first thousand people, by the time we get to the centre arche, the average over the 10,000 will probably be about two Ethereum in total. And I'm very bullish on Ethereum in the long run. So the way I look at it, right, is as Ethereum comes in today, we're going to be holding a bunch of that Ethereum over time. And the aspect of building 10,000 loyal, amazing fans is great for us because I believe that's so important to have that shared ownership within a community and we expect over the next couple of years to have a million members on our traditional subscription plan. So the reality of having these 10,000 loyal fans that have partial digital ownership of their not partial full digital ownership of their NFT is super important for us. So that's why we're happy to make sure there's super value for the holder.
 
 [Dr. Brook Sheehan]
 Yeah, absolutely. So there's value to you and then for those of you listening, there's a lot of value to you as well. Not only having the ability to have these life experiences, but then also to be able to turn around years later or maybe even a year after you held it. And maybe you don't want it anymore to even sell it for more than what you actually bought it for. And that's the beauty of NFT technology, is that you can join a lot of these different membership sites or Masterminds or things like that and still get the value from those experiences, but then also receive monetary benefit just by being able to put that on the secondary market and sell it. So that's a really cool ad. That is amazing. I'm going to get one of those.
 
 [Ed Vincent]
 I hope so. There's one other cool thing that we're doing as well, only for NFT holders. We're producing quarterly, what I would call bucket list events. Okay, all this information is on the family festivalpass.com, but those quarterly bucket list events will only be allowed. You have to hold the NFT to be able to go to them. And it will be things like having a really great artist playing to an intimate crowd of a couple of hundred people, or going to a luxury box at a sporting event and then getting to hang out with players after the game. We also have like food and wine stuff, so it'd be like having a celebrity chef cook dinner for 50 NFT holders, that kind of stuff. So there's a lot of fun stuff we're doing.
 
 [Dr. Brook Sheehan]
 That's amazing. So this is only two years in the making so far. You said you mentioned you have 80,000 different type of events on the platform right now. What is even just the next year look like? Are you hoping to just double that number? You guys seem to be picking up things left and right if you're already at 80,000 in two years.
 
 [Ed Vincent]
 Yeah. So the way a lot of it works is the reason we have 80,000 events over the year on the platform. At any given time, there's probably eleven or 12,000 events at any given moment. But throughout the year there's about 80,000. And it's not necessarily of course we will continue to add really cool events, but we have so many already. So the growth is less about getting more events because we have almost all events on the platform now. It's starting to create those special access, cool things that exist. And it's an interesting dialogue or I don't want to bore everybody getting into the dynamics of what a marketplace really is, but any marketplace is you need both sides of it. Right? So as our membership grows, we gain a little more leverage in terms of gaining access to even cooler and cooler things for our members. And then now that we have the inventory, people are excited to go because there's plenty of events now. We're going to keep growing the membership. It becomes just kind of like back and forth that allows us to grow. So when you ask the question, what's the future hold it's more and more members, cooler opportunities, cooler perks for our members. And then as we grow significantly here in the US. We do plan on moving, going to Europe and elsewhere.
 
 [Dr. Brook Sheehan]
 That's awesome. Okay, so a follow up question to that in terms of the future, what does that look like? So right now there is with festival past, there's webs three aspects. Like there's threading of Web3 in there utilizing a web to kind of model in terms of they are using traditional currency right when they're making their monthly payments. And I'm sure it's processing through traditional payment processors. I don't know. But in the case of Web3, do you guys see yourself at one point maybe down the line a few years going, hey, the Gold membership pass is going to be X amount of crypto. These are the crypto we accept and using. Like there's so many different payment methods that you can use different cryptos for to purchase their memberships versus using actual currency dollars.
 
 [Ed Vincent]
 Yes. So the answer is the first thing we did was we accept crypto for any subscription today.
 
 [Dr. Brook Sheehan]
 Oh really?
 
 [Ed Vincent]
 Yeah, as soon as you sign up if you want to use your wallet. And I think we integrate with MetaMask as well as Wallet Connect. So pretty much bitcoin ethereum, anything you want to use to pay for it. That was kind of like our table stakes for us. The first thing we're going to do if we're going to call ourselves a Web3 companies, we have to accept crypto. And then the second is obviously the NFT platform that we're offering. And to answer your overall question is yes, we will continue as new interesting opportunities exist to integrate more and more of Web3 into the platform. We will do that. So for example, I don't think the entire ticketing industry will be fully Web3 enabled for another three to five years. Meaning that like, I think eventually all tickets will just be NFTs. It will be that simple. And when we do our own curated quarterly events, we'll likely use NFT ticketing for all of those because we're producing the event ourselves. But because the ecosystem still is traditional ticketing across the board, it will be difficult to make that process move to Web3 quicker than the big players that are producing these events. They have to move there first. So that's one piece of it. But what I get really excited about is even though the NFT side for our founders, NFTs, which I mentioned is 10,000 people, we're very much about onboarding people into the kind of space of Web3. And we even have a section of the website called Festival Pass University. So I recommend you go check it out. But in that we continue to educate, right, so people can watch videos of what is Web3, how do they set up an MMS wallet, how do I do this? And we're going to continue to add more and more content with that. We recently partnered with a pretty well known kind of Web3 podcast educator. What three educators has a pretty well known podcast. We're going to start using all of his content within that section. I love it. And really expand that out. So what that does is not only does it onboard people into Web3 through entertainment through something that they know and feel. But what it also does is enables us to get everybody set up with a wallet. And there'll be a certain point in time where we're going to try to encourage people that are, even if they're free, members of the platform so people can go to Festival fast and sign up and get an account without signing up for a subscription yet. Of course, they wouldn't have credit to go to an event, but they can engage in the platform, look at events, use the discovery tools, but ultimately I would love everybody coming in to connect their wallet to our platform so that we can have more of that dialogue, right? I don't want to go too far down that rabbit hole you talk about, but I believe that wallets in the future and will be a few years before it happens, is effectively the new email address, right? So that becomes the ability to connect to the platform and then we as the platform, it's up to us to continue to incentivize our community to want to keep their wallet connected so that we can have that dialogue and marketing conversations back and forth. But the beauty of wallets is everybody is free to at any time take their wallet away from our platform or any others and go somewhere else. So we want to just encourage that decentralization because I believe companies and communities can really work together to build something beautiful that everybody wants to participate in rather than the traditional web two model. So we're definitely moving in that direction. It will take a couple of years just from adoption perspective, but we will continue to integrate all Web3 opportunities as we go forward.
 
 [Dr. Brook Sheehan]
 Made me smile so big just listening to you say that. And by no means did you go into any kind of rabbit hole because this is what I talk about and this is what a lot of this podcast is, is education and getting people really truly onboarded in the right way. I think a lot of us really in the early days kind of came into the space because of Buddy or a friend or somebody like told us you got to buy this token or get this NFT. And people are really kind of onboarding and not understanding wallets and how to protect themselves and maybe getting involved in some scams. And it is crazy. It is a chaos. It is a wild, wild west right now. But the beauty of it is there's a lot of things getting shook out of the picture and a lot of companies like Festival Pass that are rising amongst the ashes, that are building something, sustaining and something like worthwhile and something that people can find a lot of value in. And I just applaud your efforts because I think you're doing amazing things and I'm very excited to watch this project take off and do its thing because one of. The things I do want to mention, because you talked about people connecting their wallets to Festival Pass and being able to do that. And the beauty is you don't have to just connect your wallet to Festival Pass. If there's also another community that you want to be a part of, you can connect your wallet there as well. It's not a one or none where you have to disconnect from Festival Pass in order to engage with another community. It's just about engaging with the communities in which that you want to be a part of that are doing something that you feel is impactful and useful to you as a person in the world. Utilizing Web3. I don't even know what to say other than thank you for doing what you're doing, Ed.
 
 [Ed Vincent]
 No, I appreciate that. I'm just going to make two smaller points. And one is, in order to make it super easy for people that don't even already have a wallet yet, they can buy an NFT with a credit card. Right? Super simple.
 
 [Dr. Brook Sheehan]
 There you go.
 
 [Ed Vincent]
 And what's interesting about it is we use a company called Crossmint as kind of the integration to be able to do that.
 
 [Dr. Brook Sheehan]
 Okay?
 
 [Ed Vincent]
 And people probably don't even realize what happens is when they actually buy it with a credit card, Crossmint immediately acquires ethereum for the current market price of what it is at the moment, and then deposits the ethereum into our account for the NFT while at the same time just processes credit card. But what's cool about that is people don't have to worry about going to get a wallet, then finding a way to buy ethereum, then find a way to put the ethereum in their wallet, then coming and buying it. They can do all that after the fact in a way that makes sense, right? So I talk to my daughter about this all the time is statistics. Statistics typically is a boring class in college or high school, and everybody's like, well, statistics is really boring. And I thought it was too, when I took it without context, right? So I think it was probably one of my worst grades in college, but only to find out later. I spent a decade in data and analytics for major entertainment companies, where numbers and statistics was everything I even thought about. But the idea was, when something is relevant, it's very easy to track and follow something. So in this world, you buy the NFT with the credit card, you then go and set up your madamas wallet and we teach you how to do that all within the platform. Once you have it, it takes five minutes, and all you have to do is go into your Cross mint where you bought it with the credit card and send the actual NFT to your metaphor wallet. By doing this process and following along, everybody's like, oh, I get it. I see how it works.
 
 [Dr. Brook Sheehan]
 It's great.
 
 [Ed Vincent]
 Anyway, and then it's easy to connect this to the platform on Festival Pass and redeem it etc. On oh.
 
 [Dr. Brook Sheehan]
 I love that you're taking a lot of the friction to entry out of the equation and making it very easy to engage and then they have it and then they can kind of learn as they go with it already because there's a lot of times. Especially with other NFT projects. That there's this whole FOMO equation and people are getting just frazzled with trying to figure out how to do it and then they either miss the opportunity or they fall for a scam because there's people that will create almost lookalike companies that they are that project and they buy in and they lose all of their money and then most of them don't return. Very few do return after situations like that. But the fact that you guys are removing friction to entry while still giving people the ability to utilize your platform is huge.
 
 [Ed Vincent]
 Oh, no, I appreciate that.
 
 [Dr. Brook Sheehan]
 Yeah, absolutely.
 
 [Ed Vincent]
 And the other small thing I was going to mention is you talked about connecting a wallet to multiple places and I think for us, what's cool about just the Web3 world in general is the collaborations that can take place between communities and projects. And what's fun for us is because we have this amazing utility and this utility is utility even a word? People sometimes are like, well, what does that mean? It's just the benefit you get for owning something.
 
 [Dr. Brook Sheehan]
 Right?
 
 [Ed Vincent]
 And a lot of other communities have really amazing communities that don't necessarily have a fully tangible, instant utility they can use right now. So we're talking to a lot of other projects where some of those communities would be able to in our platform on Festival Pass. We can recognize a wallet from another community and provide some benefit to that member because they hold somebody else's NFT, which is no fun.
 
 [Dr. Brook Sheehan]
 That is cool. Yeah, like the joint venture kind of idea where you guys are helping each other out and the whole community wins. The person, the company, everybody wins in that sense. So that is amazing. Is there anything that I didn't ask or that we didn't hit on that you would like to share?
 
 [Ed Vincent]
 No, I mean, I think you hit on a lot, which is kind of cool and I appreciate that you digging into actually how it works and what it all is because I think sometimes it's much better when you kind of just walk through exactly what's going on.
 
 [Dr. Brook Sheehan]
 Yeah, cool. Awesome. Well, where can people connect with you, Ed?
 
 [Ed Vincent]
 Sure. So the overall platform where you can redeem and get tickets as festivalpass.com, the NFT is on Family Festivalpass.com, so it's just where you can actually go read all about the NFT, click a button to Mince and then buy it if you want. All the socials are pretty much all the same. It's get festival pass. So Instagram is get festival past. Twitter, Facebook, it's all get festival pass. So I think that's most of it.
 
 [Dr. Brook Sheehan]
 Nice and I'll be sure to put all of that in the show notes, as I always do with all of this amazing content. So with that being said, thank you all for being here, thank you for listening, thank you for learning and engaging and developing your knowledge in the Web3 space. As we pull this train into the station, be sure to grab all of your belongings and exit to the right and we will see you on the next one. Have a wonderful rest of your day.
 
 [Ed Vincent]
 Awesome. Thank you.
 
 [Dr. Brook Sheehan]
 You made it. Congratulations. That wasn't so bad, was it? I hope you laughed and learned a little bit more about this Web3 universe and how simple and fun it can really be. Would you be so kind as to leave us a review and share it with your friends and family? It would mean so much to get this out to more people as we embark on the greatest transfer of wealth that has ever happened in human history. Can't wait to see you on the next one.