FiftyOne Insights – Web3 for Business
FiftyOne Insights
Zack Guzman: Transforming Media & Food With Web3

Zack Guzman: Transforming Media & Food With Web3

An interview with Zack Guzman, founder of Trustless Media and Coinage.

In this episode, Zack Guzman, founder of Trustless Media and Coinage, discusses his journey from traditional media to Web3, the innovative uses of blockchain technology in the media sector, and how it can create a more transparent and democratized environment for content creation and consumption.

The Concept of Ownership in Web3 Ownership

Zach explains that Web3 enables a new internet paradigm where audiences can genuinely own pieces of the content they consume. Unlike the traditional models where subscribers are passive, Trustless Media allows audiences to become active participants through NFTs and decentralized autonomous organizations (DAOs). This new setup incentivizes both creators and audiences to contribute meaningfully to the content ecosystem.

Coinage: Community-Driven Crypto News

Coinage is Trustless Media’s first venture focusing on crypto news. Zach explains that in an industry built on being 'trustless,' trustworthy content is crucial. Coinage engages its community in the content creation process. For instance, members vote on what projects to cover, creating a collective filtering mechanism to navigate biases. This democratic approach ensures the content is as unbiased and informative as possible. An example given is the 'Crypto Project of the Year' contest, where members voted to crown the best projects, adding a level of trust and validation to the awards.

Expanding Beyond Crypto

Trustless Media is also venturing into the food industry with the Best Dish Ever show. This project allows food enthusiasts to vote on the best dishes and restaurants, democratizing food content similar to how Coinage handles crypto news. With significant community participation and partnerships with known chefs, the platform blends Web3 technology with universal interests like food, demonstrating the scalability of Trustless Media’s model beyond the crypto space.

Challenges and Future Opportunities

One of the challenges Zach points out is making blockchain technology accessible to those unfamiliar with it. The Best Dish Ever project tackled this by enabling easy credit card payments without needing prior knowledge of crypto wallets. Zach sees huge potential in mainstream content niches and believes the future of Web3 in media lies in its ability to make complex technology user-friendly. The ultimate vision is to restore trust and connection between media creators and their audiences.

Advice for Web3 Newcomers

Zach advises newcomers to focus on solving real-world problems with Web3 technology rather than getting caught up in the hype. He stresses the importance of grounding oneself in practical applications and real use-cases to navigate the noise and distractions prevalent in the space. By concentrating on tangible problems and how Web3 can address them, new entrants are more likely to succeed and make meaningful contributions.

Lightning Round and Conclusion

Mark wraps up the episode with a lightning round of quick questions, where Zach shares insights about his daily routine, favorite books, and other personal preferences. The conversation concludes with Zach encouraging listeners to explore legitimate NFT projects and get involved in community-driven content platforms. He emphasizes that Web3 has evolved beyond speculative investments, offering real solutions and opportunities for both creators and audiences.

FiftyOne Insights – Web3 for Business
FiftyOne Insights
Welcome to the FityOne podcast, where we talk all about consumer brands, Web3, and the future of consumer engagement.
Together with brand leaders & innovators, we untangle and explore the potential of blockchain, gaming, AI and other emerging technologies to build the future of consumer engagement.
I’m Marc Baumann, your host, and founder of FiftyOne. With FiftyOne, we publish research & strategic intelligence on the Web3 consumer space, and we work with start-ups and corporates on how to use emerging technologies to unlock real value for business and consumers alike.