Jack Davidson Of Badfroot On The 5 Things You Need To Understand In Order To Successfully Invest In Cryptocurrency

There aren’t 5 exact things, but I can share one very very valuable story that is the ONLY reason I am successful here. When I was in real estate I was trained by some very competitive and ruthless brokers. They taught me amazing sales techniques and sales tactics that I just took with me EVERYWHERE I went.

Over the past few years, the Cryptocurrency industry has been making headlines nearly every week. Many people have gotten very wealthy investing or leading the cryptocurrency industry. At the same time, many people have lost a lot investing in the industry. In addition, more people have been scrutinizing the ecological impact of crypto mining, as well as its potential facilitation of illegal activity. What is being done and what can be done to address these concerns?

In this interview series called “5 Things You Need To Understand In Order To Successfully Invest In Cryptocurrency” we are talking to leaders in the cryptocurrency industry, as well as successful investors, who share insights from their experience about how to successfully invest in Cryptocurrency.

As a part of this series, I had the pleasure of interviewing Jack Davidson of Badfroot.

Jack Davidson is the artist Badfroot who turned his graffiti art into an NFT empire. Davidson took his affinity for drawing statement-making dicks (known as ‘the penis bandit’ in school) and turned it into NFTs in May 2021, becoming an early NFT artist success story. Now as the creator of the popular SkullKids NFTs and founder of the Badfroot community, Davidson is an anti-rugpull advocate and proponent of cultivating an inclusive NFT community by always paying it forward.

Davidson comes from humble beginnings growing up on the East End of Long Island, New York. He worked in a group home for underprivileged and incarcerated youth and sold real estate before hitting rock bottom. In February 2021, he was introduced to NFTs and launched his collections ‘Dickers’ and‘SkullKids’ and within a few months, his life changed forever.

Davidson co-hosts the Relentless Podcast and weekly Twitter Space conversation on what it takes to make it as an NFT entrepreneur, and he has been featured in One37PM.

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 little about your backstory and how you grew up?

I grew up on the south shore of Long Island in a small fishing town called Hampton Bays. I ended up selling real estate in the Hamptons for a bit, and then ended up here in the web3 space. Wild life.

Is there a particular book, film, or podcast that made a significant impact on you? Can you share a story or explain why it resonated with you so much?

Think and Grow Rich by Napoleon Hill. One of my greatest mentors had recommended this book to me about 10 years ago and I treat it like a Bible.

Is there a particular story that inspired you to pursue your particular career path? We’d love to hear it.

My own story inspires me. I am my own hero in this story. I’ve always been a self starter. I always walk around with a little luck in my pocket so I make sure to write my destiny. Most of the people who are in my inner circles inspire me to be the best version of myself.

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?

When I first started in NFTs I was learning as fast as I could about gas fees, wallets, blockchain, etc. I demoed a transaction with a BAYC to see what it would cost and accidentally went through with the transaction. Best mistake ever.

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?

Ah, there are certainly a few. I am insanely grateful towards my business associate, Jeff Sarris. Jeff has really shown me such perspective from the tech side of things in NFTs. He is the most valuable asset to my community. Also one of my closest friends suggested to change my work from NSFW to a regular family friendly style and I owe her some credit too.

Are you working on any exciting new projects now? How do you think that will help people?

Currently we are just wrapping up our 9800 generative project called SkullKids: Generations. This project starts minting April 27th. This is a continuation of my 2021 success, SkullKids: Immortals. Although we have A LOT planned for our vision down the line.

Ok super. Thank you for all that. Let’s now shift to the main focus of our interview. The cryptocurrency industry seems extremely dynamic right now. What are the 3 things in particular that most excite you about the industry? If you can, please share a story or example for each.

It’s so funny I’m not like a crypto guy by ANY sorts. Sure, I made a killing here this year, but it was because I had my art as a conduit to receive and earn crypto. 365 days ago I didn’t even know what ETH or BTC was. What excites me the most about the industry is that this is an opportunity to build some real generational wealth right now. Often, the chances that come with crypto can be volatile but can also be so rewarding. The second thing I’m stoked for is that each day that passes, people are getting more and more interested in NFTs and the space gets stronger and sturdier every day that passes. More credibility is being established here as we onboard the mass population to start discovering web 3. Very very excited to see what NFTs can offer to so many different artists looking to showcase their work in the future.

What are the 3 things that concern you about the industry? Can you explain? What can be done to address those concerns?

Jeez, only 3? Just kidding. But one thing that concerns me is taxes. Holy smokes is that stuff the biggest pain in the ass or what! There is a lot of gray area with the topic, but it’s similar to any other business. Another thing is the roller coaster nature of the business. Getting used to the violent trends of what’s hot, what’s up, what’s down and adjusting to seeing you lose and gain lots of money daily. My advice for that is to not look at it so much. I’m here for the long haul so it makes it easier, but I’ve had to develop an iron stomach playing in this space. The final thing that concerns me is that this space truly is the Wild West. You can have so many disingenuous people come into this space and mislead people in really wild ways. The honest answer to all of that is to DYOR (aka do your own research) .

What are the “myths” that you would like to dispel about cryptocurrency? Can you explain what you mean?

A lot of even just my immediate friends and family are very confused on what it is I do for a living. They think NFTs and crypto are a lot more complex than they really are. This is coming from the guy who still is learning about it but I am so glad I took my shot here even if I didn’t know all of the details. It’s not as cryptic and confusing as everyone thinks. They are real assets that can be converted to USD at any time you want.

How do you think cryptocurrency has the potential to help society in the future?

It’s honestly simpler than cash. It’s simpler than any other system that we currently are working with, and I think that NFTs are one of the many ways society is seeing how crypto currency can be valuable to our society. Very excited for what’s to come.

Recently, more people have been scrutinizing the ecological impact of crypto mining. From your perspective, can you explain to our readers why the cryptocurrency industry is creating an environmental challenge?

This is an interesting topic. From the research that I’ve done, I know that crypto mining is very heavy on power and absorbs a lot of energy to do. Also from the research I’ve done, it’s actually worse for the environment to print fiat currency. Mining crypto isn’t much better, but it’s certainly the lesser of two evils. DYOR!

From your perspective what can be done to address or correct these concerns?

Honestly, education. All we need is for people to genuinely be educated about topics before we assume any concerns. It’s very easy for people to get excited about crypto and talk about what they may not know. They’d educate people and empower them so they can know the draws and bonuses of all things.

Recently, more people have been scrutinizing cryptocurrency’s impact on illegal activity. From your perspective, can you explain to our readers why cryptocurrency, more than fiat currency, is seen as an attractive choice for criminals?

I honestly don’t know enough about the topic. I mean sure you hear about people laundering their money here, but I have never directly seen that or anything.

From your perspective what can be done to address or correct these concerns?

I mean as the space gets regulated, it will be very very easy to trace back every transaction being made. It’s all on the mighty block chain. Every transaction ever done can link back to your wallet.

Ok, fantastic. Here is the main question of our interview. What are “The 5 Things You Need To Understand In Order To Successfully Invest In Cryptocurrency?” (Please share a story or example for each.)

There aren’t 5 exact things, but I can share one very very valuable story that is the ONLY reason I am successful here. When I was in real estate I was trained by some very competitive and ruthless brokers. They taught me amazing sales techniques and sales tactics that I just took with me EVERYWHERE I went. They used to drop me off on Dune Road which is a huge strip on the beach that all of the mega rich live on. They used to have me door knock until my knuckles were white. I would get told no, rudely, often on almost every door I knocked on. For months I got told no, and I used to ask why we did this and I would feel so defeated. The broker would respond by saying “Why are you defeated? What’s the worst that these people tell you no? Okay, move in and knock on the next door! One yes is worth all the door knocking, it can change your life.” And it did. They were right. I kept knocking, and it happened. My first big sale. So I take this principal with any entrepreneurial approach. It works. Every time. Hard work and consistency is rare in 2022.

What are the most common mistakes you have seen people make when they enter the industry? What can be done to avoid that?

They join what we refer to as “rugs” which are NFT projects that lie to their communities and basically are grabbing cash. I wish people walked before they ran here because just by doing a little homework, it can all look so differently. My community Badfroot is very well rooted In the opposite of being a rug.

Do you have a particular type of cryptocurrency that you are excited about? We’d love to hear why.

I mean most of my portfolio is invested in ETH so I’m excited to see all the rumors about ETH 2 come into effect. Also I hold a BAYC so I’m extremely excited about the ApeCoin that just dropped.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)

That’s what my community at Badfroot is all about. We try to empower our community through the simple principles that were taught to me. We are super motivational and we try to give all the power to our people. We have so many amazing life changing giveaways and utility involved in our culture and community. We are the movement. We are Badfroot.

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 :-)

GARY VEE PLEASE FOR THE LOVE OF GOD JUST CHECK US OUT!!!

Thank you so much for these excellent stories and insights. We wish you continued success and good health!