Hartford Business Journal

17 HARTFORDBUSINESS.COM | MAY 3, 2021 We help guide your business like it is our business. Meet our team at bankatpeoples.com/businessteam Big-time business solutions. That's huge Member FDIC/Member DIF New social network Clubhouse offers cutting-edge business expertise By Liese Klein lklein@hartfordbusiness.com W hen Gerry Barker first heard about non-fungible tokens (NFTs), the first thing he did was click on the Clubhouse app on his phone. As president of Cheshire promotional products company Barker Specialty, Barker wanted to know more about how NFTs could help his business. "It's up-and-coming, it's thought leaders, it's sharing of ideas," Barker said of Clubhouse, an audio social network that is currently open to users by invitation only. "I think it's very exciting." Businesspeople across a range of sectors are discovering Clubhouse as a way to listen in on conversations among the digital influencers behind some of the hottest online trends, including cryptocurrencies, artificial intelligence and podcasting. "It has been eye-opening how much free advice industry leaders give away in these casual conversations," R. Kenner French said in a recent Forbes article on using Clubhouse for business. "As an entrepreneur, you can learn about a wide range of topics that can help you solve a problem or strengthen your business just by searching keywords." Once on Clubhouse, Barker navigated to a room where a group of investors and entrepreneurs were talking about NFTs — actually talking with their voices, not typing into keyboards. All he had to do was listen and learn. "I started diving in there, participating in these rooms. I learned a lot," Barker said. Hundreds of people regularly participate in rooms relating to NFTs and cryptocurrency, many with concrete expertise in buying, selling and trading the digital assets. The platform requires that participants use their real names, and carefully screens out scammers and spammers. Clubhouse is so new that it says it's still in beta testing mode, thus the invite-only membership. Joining a new social network at this early stage can have pros and cons, said Sara-Beth Donovan, principal and president of media at Avon advertising agency Mintz + Hoke. "It can benefit a brand to be an early adopter if they can be authentic and honor the social community," Donovan said. "Brand safety, alliance and privacy concerns should always be vetted before a brand jumps in. Joining 'the next big thing' just to get some buzz will often result in a lot of wasted energy and investment or worse." Barker of Barker Specialty has invited several colleagues to Clubhouse in recent months and has seen some respond to the platform, while others don't have the time and energy to benefit. As someone who thrives on multitasking, Barker said the ability to listen in on conversations while he does other things like answer emails makes the app invaluable. He was so impressed with Clubhouse that he started his own room on the platform, Swag Stop, to discuss ideas around promotional products and services. "Clubhouse really gave us a lot of exposure and push but also validation," Barker said. "For the person who wants to learn, it's a very safe space." Betting on ducks Regardless of the potential risks or rewards, Gerry Barker takes a childlike joy in watching his Ramp Walker NFT march tirelessly across a computer monitor. He hopes to make money on the technology at some point, but he also sees the value of being a pioneer and helping his cus- tomers understand blockchain and its related innovations. The next step for Barker is a collaboration with Craig Wolfe, the owner of a line of playful figurines called Celebriducks that feature the likeness of sports icons, musicians and movie stars. Digital artists will be commissioned to create the Celebri- duck NFTs, which will be mined by Barker Specialty. "We are so excited to use the creative aspect of NFTs to bring our unique line of collectibles to the digital art space," Wolfe said. "We believe our many collectors through- out the world will be thrilled to own a Celebriduck NFT and we are looking forward to seeing the creative vision of NFT artists." Barker is looking forward to the Celebriduck project and hoping his promotional clients warm to the idea of digital branding. "Barker Specialty has always been a thought leader in our space," Barker said. "Over time [NFTs] are going to evolve because it's a great product, but we haven't figured out yet where it's going to go." Sara-Beth Donovan

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