Jeff Marinelli Of Art and Living Magazine: 5 Things You Need To Know To Create a Highly Successful Career In The NFT Industry
An Interview With Fotis Georgiadis
… NFT is a smart contract tied to an asset. That offers so much value because this smart contract through blockchain is posted on a public ledger. Just like when this article is published on a website, you can search and find it anywhere. When an NFT is created, all details can be seen on the web. What makes this so important is I can now track when the blockchain creates a transaction, and because of NFT smart contracts, it automatically executes the terms outlined in the agreement. So why is this powerful? The argument is if an artist creates a work and gets 100, and ten years later, the artwork sells for millions. How is this fair to artists, and wouldn’t the artist be compensated? In the past, there was no way to do such a task. Now with smart contracts, it can be set that every sale, the artists could get a fee, and it’s automatic. That’s the power of NFTs.
Many have observed that we are at the cusp of an NFT boom. The thing is, it’s so cutting edge, that many people don’t know what it is. What exactly is an NFT and how can one create a lucrative career out of selling them? To address this, as a part of our interview series called “5 Things You Need To Know To Create a Highly Successful Career In The NFT Industry”, we had the pleasure of interviewing Jeff Marinelli.
Jeff Marinelli founded Art and Living Magazine to feature creators behind the scenes and for almost two decades has created an international brand. Now Jeff has launched NFT Expo (https://artandliving.com/nft-expos/) that will look at every business aspect to show how brands and creators can enter into the NFT business successfully.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit. Can you tell us a bit about your backstory and how you grew up?
I grew up in Buffalo, NY and at age 21 went to be part of the Houston, Texas boom and ended up at Enron managing the West Texas Pipeline as in the world of technology. In 1993 I launched a consulting company and ended up partnering with Peoplesoft which later became a solution of Oracle, working with Fortune 500 companies. In 2005 I headed to California to launch Art and Living Magazine and with a worldwide footprint of featuring some of our world’s greatest creators and visionaries. We knew we were a success when we became the sponsor for the World Expo in Shanghai in 2010 for the 70 million attendees.
Is there a particular person or book that made a significant impact on you? Can you share a story or explain why it resonated with you so much?
My close friend John Wright at 21, had the most profound impact on me as he introduced me to Zig Ziggler. To this day, we stay focused, and goal orientated with the tools that Ziggler taught. To the degree every hour is accounted for in the task list. When I have 12 or more things going on simultaneously with sub-lists for these 12 significant tasks, I assign not only dates but times of completion. It forces you to create a subconscious mental note that you’re missing your targets. The job is to get it back on schedule or improve time management.
Is there a particular story that inspired you to pursue a career in this new industry?
I’m in NY for fun and came across a magazine conference that I decided to attend. It came at a time in my life I was going through a life change at age 43 and trying to figure out what I wanted to be when I grew up. I came up with an idea that Los Angeles needed a great art and design magazine that can feature our creators, so we started just that. Midway through, I had a trusted advisor, Clifford Einstein, founding partner of Dailey Advertising, help with my dilemma. I had created a high-profile art and design magazine on established creators to win NY. But I had a passion for all creators, including the up-and-coming. So at dinner one night, Cliff came up with NOW for legends and NEXT for the up-and-coming. I look back and laugh because the next day, I called Cliff and said, “you’re off,” and he said, “are you aware of the three-day rule?” I told him I was not, and he told me let major decisions always resonate for three days, then let’s talk. So, on the third day, I had a meeting with marketing a major enterprise and shared what we were about to do with Art and Living NOW and NEXT, and their first response is we love it and the president is a perfect NEXT. I laugh because this person is a total legend to me and would have thought she would be perfect for Art and Living NOW. So, Art and Living NOW and NEXT still lives.
Can you share the most interesting story that happened to you since you began this fascinating career?
It was when I was invited to Singapore to be with a private group of 70 as the Sands Casino opened. Sitting at the table of Sheldon Adelson and family as Guy Savoy cooked for us and Diana Ross sang for us was the experience of a lifetime. It became one of my best stories when I was with a legend of architecture, Moshe Safdie, who created this casino in which a 180-foot pool stood atop three structures above the Singapore skyline. When I met with Moshe, he said he loved this project, but one of his most fabulous creations I must visit was the Yad Vashem in Israel. Moshe had set up plans for me to visit. So, I flew to Israel. To this day, Yad Vashem has profoundly impacted me the most. His creating vision is simply brilliant.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
That one is easy because I can remember it as if it was yesterday and it was a long time ago. When you get busy publishing and run-on deadlines, you will make mistakes, and boy, did I make one. I was pursuing one of the greatest creators, Nancy Dubuc, to ask if she would accept our Art to Life award. That day I had a long conversation with David Lynch and what he had created for the National Geographic Channel. So, his name was on my mind. As I wrote the letter to honor Nancy, instead of using Nancy’s name, I used David’s. Nancy did not accept my invitation.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
I am fortunate enough to have a partner that has sold seven companies and understands contracts, public and private companies, and her whole life has dealt with some of the largest VC firms in the world through doing deals. With that said, I’m naturally protected. So, my partner protects me and eliminates my need to worry. I get to create.
Are you working on any exciting new projects now? How do you think that will help people?
I just completed a project that took ten years to complete, and that is finishing a book on relationships. The book is called You’re Right, I’m wrong, and it was just released on Jun 1. The most exciting project I am working on is launching NFT Expo, which kicks off July 28 in Los Angeles. There are so many unknowns regarding NFTs, and most conferences around this topic include so many other issues simultaneously, making it even more confusing for people to keep up. Our conference is only focused on educating on NFTs and will not add web3, metaverse or crypto, or bitcoin in the same conference. This will teach how to be successful with NFTs.
Can you explain in your own words what an NFT is, and why people are spending so much money on them?
NFT is a smart contract tied to an asset. That offers so much value because this smart contract through blockchain is posted on a public ledger. Just like when this article is published on a website, you can search and find it anywhere. When an NFT is created, all details can be seen on the web. What makes this so important is I can now track when the blockchain creates a transaction, and because of NFT smart contracts, it automatically executes the terms outlined in the agreement. So why is this powerful? The argument is if an artist creates a work and gets 100, and ten years later, the artwork sells for millions. How is this fair to artists, and wouldn’t the artist be compensated? In the past, there was no way to do such a task. Now with smart contracts, it can be set that every sale, the artists could get a fee, and it’s automatic. That’s the power of NFTs.
The NFT industry seems so exciting right now. What are the 3 things in particular that most excite you about the industry? If you can, please share an example for each.
That NFT started with digital imagery and is now working its way into the physical world. Art and Living is all about the physical art, and we are now in a position to help artists sell their physical art that can be tied to an NFT smart contract. We also see other benefits with NFTs that we are about to implement to help artists following projects get funded by using NFTs. The third exciting thing about out of Art and Living is our launch of a metaverse allowing artists and creators to have their virtual gallery to display their works internationally.
What are the 3 things that concern you about the industry? Can you explain? What can be done to address those concerns?
The absolute lack of understanding of NFTs and what they are. Most think it’s apps or crypto punks. NFTs are way more than that, and they will affect every industry. Think of anything that’s an asset that needs a contract, such as an exclusive one-of-a-kind watch or liquor. These are perfect uses of NFTs as it authenticates the investment and allows you to keep track of it. The second misconception is that the avg sales price for an NFT is now under $2K but all you hear is $100K, so everyone enters the NFT market thinking they can do 100X, and it’s just not the case. The last is the most complex, and it’s by nature that creates the problem. It’s a non-governed world. There is no accountability. For example, on Opensea, I bought 12 NFTs that I thought were cool, and two days later, I went into my account, and they were gone. For no reason, but I can only assume they have stolen IP and removed it. With no email, explanation, or refund. This was a hard lesson.
What are the myths that you would like to dispel about NFTs? Can you explain what you mean?
NFT is a digital piece of art. NFT is a contract that is tied to a digital image and the likelihood to make a profit is 50%. Since 50% of venture investments return less than the capital invested.
What are the most common mistakes you have seen people make when they enter the NFT industry? What can be done to avoid that?
It’s the rush to be in and not doing their homework. It takes a lot of work to understand what you are buying. There are a lot of scams out there, and like everything else is a sales job; and if you take the bait and the NFT fails, so do you. NFT is all about the complexities of digital art tied to the smart contract. It also takes a community and successful storytelling that make an NFT successful without those elements in a successful launch.
How do you think NFTs have the potential to help society in the future?
Music, art, animation, one-of-a-kind video, and creative projects can now be tied to a smart contract — NFT. There are so many NFT marketplaces you now have an option for your work for the first time. You can directly sell your works like a new song to your fans, and as you build your community, you can now offer it to your fan base every time you launch a song. This fully independent and managing your client base never existed. It does now. That’s the future.
What are your “5 Things You Need To Know To Create a Highly Successful Career In The NFT Industry?”
What are you building, why, how, what blockchain will you use, and what are your limitations and tradeoffs? What story will you create that is compelling for buyers to get excited? Make sure you set the vision for your project and understand accurate metrics and expectations. How will you build your communities to launch your brand successfully? What will your team look like, and what value are you bringing with your project?
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger.
I’m building it now. It’s to connect worldwide creators on one platform through communities where they can communicate with others in native languages. With the tools to be able to collaborate. But more importantly, our marketplace gives the creators the tools to sell their works and become self-sufficient. That is my next journey. Connect the world of Creators.
We are very blessed that very prominent leaders read this column. Is there a person in the world, or in the US with whom you would like to have a private breakfast or lunch, and why? He or she might just see this if we tag them 🙂
Jeffrey Katzenberg is about making a difference in the creative world, and so are we. Mark Zuckerberg’s metaverse is about what Art and Living is about — connecting communities. With our access to the established creative world, Meta is a natural fit in many ways.
Thank you so much for joining us. This was very inspirational.
Jeff Marinelli Of Art and Living Magazine: 5 Things You Need To Know To Create a Highly Successful… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.
