I remember hearing about Bitcoin for the first time during an English lecture at Morehouse College in 2012. Not from the professor, but from one of my classmates. I had no clue how to get my hands on any and no clue how blockchain technology would evolve over roughly a decade. Around five years passed before I started working at Storj, a decentralized cloud storage startup with its own utility token on the Ethereum network. 2017 was an inflection point for crypto, where crypto companies attracted huge sums of money from all directions and we saw the launch of some of the first notable NFT projects like CryptoKitties and CryptoPunks. Right before my arrival, Storj raised 30 million dollars in an initial coin offering within a matter of days. Money that was completely non-dilutive, meaning that everyone kept the exact same equity stakes after the raise. Over the next two years at the company, I realized the power of crowdsourced networks that leverage modern technology and research.

Blockchain platforms usually lay somewhere in the middle of peer-to-peer systems, distributed/decentralized architectures, and digital cash systems. Some networks like Ethereum have become more-like global distributed computers that capture the state of more than just “digital cash”. Well before Bitcoin and Ethereum, in the early 2000s, peer-to-peer file sharing networks like Bittorrent and Napster showed us that these types of systems could gain traction and build strong digital communities.

Although many projects have subsequently emerged, many share similar beneficial characteristics to their predecessors versus a more centralized model. They all have roots in crowdsourcing, which can be described as obtaining (information or input into a particular task or project) by enlisting the services of a large number of people, either paid or unpaid, typically via the internet. Airbnb and Uber are crowdsourced networks that follow a more centralized model, which by nature restricts some of the upside that contributors can grab a hold of. Decentralized systems utilizing the blockchain proliferate the attractive characteristics of crowdsourcing. It’s crowdsourcing on steroids.

Said in another way, crowdsourcing allows businesses to coordinate the supply of in demand resources that are underutilized by their owners. Since individuals typically have different requirements for financial success than businesses, company overhead can be lowered by saving on infrastructure costs while still leaving contributors happy. And those cost savings can be passed on to end users. That’s the ideal case for and the promise of crowdsourced networks.

That brings me to my example today. I’m currently working with a talented artist and Morehouse College graduate, Robert Newman, on an NFT sale on the Solana network. We’ve committed to using 40% of the proceeds to create educational resources for the Atlanta University Center looking to learn more about blockchain technology. We’ve also committed 10% to donate directly to AUC schools.

In this case, we see the power of crowdsourcing when combined with the blockchain. Each transaction of this NFT sale will not only pay myself, Robert, and the AUC, but also the validators of the Solana network all across the globe. In addition, the digital artwork files have to be stored somewhere, so Arweave miners get rewarded for helping to maintain the integrity of files stored on their network. Since both validators/miners get paid through cryptocurrency, they’re not only receiving compensation up front, but also have access to the potential financial upside that cryptocurrencies provide through the appreciation in asset value. NFTs also have this same characteristic, so purchasers of the art not only support a good cause, but also can reap financial benefits down the road.

As a black man with experience in the blockchain space, I have a huge interest in making sure that other black people are a part of developing and nurturing networks that I believe will grow tremendously over the next decade. And I truly believe in the power of crowdsourced networks. Thanks for listening and looking forward to sharing more updates very soon!