Lauren Sivan, sitting in for Frank Mottech of "Mottek on Money", interviews co-founder of Bacon Club Garett Martocello.
Original Air Date: October 27th, 2022 on KABC.
LAUREN
Next up is someone I got to work with, on a Web3 show, and during our time together, he told me about a Bacon Club NFT and I was definitely intrigued because I didn't know what that meant. But for anyone who likes bacon and is as curious about NFTs, this is our guy.
Garett Martocello is the co-founder of Bacon Club NFT and he joins me now. Hi Garett.
GARETT
Hey, Lauren. How's it going?
LAUREN
Good to talk to you again. So tell us, what is the Bacon Club NFT?
GARETT
So Bacon Club NFT. We are the first bacon subscription service to utilize an NFT.
LAUREN
A bacon subscription service, but it’s on Web3? How does it work?
GARETT
Well, you've heard the news of and all the hype about NFTS and all those monkey pictures and all that stuff. You know, an NFT is a digital certificate ownership and that can mean a lot of things. For us, we’re using NFTs as our membership cards into the Bacon Club.
So once you get one of our Bacon Club NFTs it establishes you as one of our members, you put that in your digital wallet and our website reads that and lets you into the club. And from there, we've got our Bacon store, we've got our big subscriptions, we've got our bacon boxes and a whole lot more.
LAUREN
And we're talking about actual bacon. It's not like a code word for a token or something, right? You're going to get the meat.
GARETT
Exactly, exactly. And so what we wanted to do, we wanted to take something that was Web2 which is bacon and bring it to Web3, so NFTs. So this is our way of doing it.
So, you're taking your Web3 NFT and you're using it to get Web2 bacon. You get your Bacon Club NFT, you get into the club, get into the store, and you order bacon right to your door.
LAUREN
And so why would this be better having an NFT club membership rather than just you know going on a website and subscribing to something like you know Harry's razors or whatever?
GARETT
Yeah that’s a great point. So with an NFT you own your membership and if you're talking about Harry's razors, you get a membership through them, but once you're done with it, cancel it, that's it. You kind of forget about it, with an NFT membership like ours, you own it.
So, if you want to buy two and you say keep on to yourself and then you give one to someone else and let's say, you no longer like bacon one day, which is crazy, sounds crazy to me. You can take that Bacon Club NFT and you can sell it to somebody else.
Now, you're no longer a member and now they are.
LAUREN
So, the membership itself has value in addition to the delicious bacon that you're receiving.
GARETT
Exactly. And unlike most memberships, you can transfer them. It is fully transferable and so, whoever's holding the Bacon Club NFT has the membership rights.
LAUREN
Wow, that's great. I mean, it sounds like a great gift idea. I have to ask you before we run out of time, what other companies are doing this because I think a lot of people have it stuck in their heads that NFTs are just you know, like you said about Bored Apes, they don’t realize you can buy commodities now through an NFT.
GARETT
Exactly. As far as we know, we are the very first ones to do this, with bacon at least. And hopefully you know, we are writing the playbook on this and we can help out other companies do the same.
LAUREN
It's such a great idea. I mean you picked a winner. Who doesn't need more bacon?
And Garett, you just launched back in September and you can go to BaconClub.io and sign up and buy your own bacon NFT or for someone during the holidays.
GARETT
Exactly, holidays are coming up. Everybody can use some more bacon in their life.
LAUREN
It was so good having you on, thank you so much for explaining this to me because I think you really explained why NFTs are going to be the future and why now we're all going to have a stake in Web3, which is something really kind of mind-boggling after Web2.
Garett Martocello, thanks so much for joining us. He's the co-founder of Bacon Club NFT. If you like to add some flavor to someone's life or your own, go ahead and sign up, I know I will be buying this gift for others, meat eaters that I have in my life.
You're listening to Mottech on Money, I'm Lauren Sivan filling in for Frank Mottech.
You can catch my show Beond the Blockchain, it comes up on Beond TV. It's on a bunch of different platforms, YouTube, Amazon, Roku, all the things. You can also catch me on Twitter at Lauren Sivan, and I'm also on Instagram at IdiotSivan.