Justin Halladay feels fortunate to have been involved with several entrepreneurial endeavors in his career thus far. Halladay, who now works independently in the information technology industry, has started companies in the education and sales fields. His work in IT has taken him in various directions, including software development and IT support. It also offers services from small startups with a few employees to multi-million dollar corporations like Morgan Stanley.
A few months ago, Halladay announced that he was working on several new projects that would change the world of non-perishable tokens (NFT). NFTs are blockchain assets that are encrypted and contain unique metadata and identification codes.
Halladay is excited about the opportunities that converting to NFTs will create in the world of alternative currencies. He is currently focusing on three major issues and will announce the full details of his plans soon. These include:
- Opening a new precious metals company to complete NFTs.
- Creating an educational system and e-book that provides insightful and useful content for investors and early stage entrepreneurs. Halladay hopes the book and course materials will inspire investors and business owners to create their own unique path to success.
- Releasing new episodes related to real estate and gaming in the Metaverse.
Regarding the latter point, Justin Halladay describes real estate in the metaverse as an online network consisting of multiple virtual worlds. It envisages the vast digital environment it is creating to support business and social activities. Here are just a few examples of what Halladay expects to happen in the Metaverse:
- Interactive virtual socialization
- Play games individually or challenge others in an online network
- Read, download or listen to online content
- Watch digital concerts
Virtual worlds like Halladay’s speculations already exist. He uses his knowledge as a tech entrepreneur to identify what this promising trend is and jump in early in the game by acquiring his own virtual real estate. Sales in the virtual real estate space are expected to double from $500 million in 2021 to $1 billion by 2022.
“Location, location, location” is the rallying cry of realtors in the physical real estate space. However, the location is much less important in the metaverse. When asked to elaborate, Halladay says what an investor does in online real estate is more important than where he sits. For example, early investors leased their online real estate to others to build virtual storefronts, create digital experiences, or display ads.
Halladay describes two popular companies that rent online space from virtual real estate owners. One is the auction house Sotheby’s, which has rented a building in Disneyland to host the auctions. Once inside the space, the avatars wandered around and took mental notes on the items for sale. Another company was Miller Lite Beer. For the 2022 Super Bowl, Miller Lite opened Decentraland, an online space that rented out 20,000 avatars to interact at a virtual bar.
Another example of capitalizing on rented virtual real estate comes from Nike, the shoe company that created the Roblox game. Avatars can play Roblox, try on different pieces of Nike gear, or spend time socializing.
What impressed Justin Halladay most about real estate in the Metaverse was that the possibilities for creating something unique and making money were endless. It does not face space limitations like in a concert hall or a football stadium. People visiting its new online virtual worlds can pay for games or goods with NFTs.
Teaching others the way he learned from his mentors
As a deeply Christian believer, Halladay shares what he has learned with others so that they can achieve the financial freedom he has. He describes himself as extremely lucky to have such wonderful and caring mentors. According to Halladay, his early mentors gave him a lot to help him become the man and business professional he is today. Paying it forward feels only right to him.
Halladay sees the benefit of being part of a business ecosystem that involves the reverse flow of people in and out. He summed up this philosophy in three simple words: learn, learn and teach. All three of these actions are equally important to the continued growth of the ecosystem established and managed by entrepreneurs.
Justin Halladay gives insightful advice to new entrepreneurs
Halladay feels that the Bible provides answers to some of life’s most pressing questions, regardless of whether the reader professes any faith system or no faith at all. He advises all new startup business owners to create a strong spiritual foundation for themselves. Halladay begins each day by studying the Bible and tries to spend time with his wife and three sons. Participating in these activities helps him put everything in perspective and reminds him why he worked so hard in the first place.
For Justin Halladay, building consistency is the next step to entrepreneurial success. He recommends setting small goals first and writing down the steps necessary to achieve each one. Halladay remembers the great sense of satisfaction he felt as a fledgling entrepreneur when he achieved his first goals. By achieving small early goals, Halladay developed the confidence to set new, increasingly challenging ones.
Another piece of advice Halladay gives to new entrepreneurs is to discipline themselves not to waste time on distractions like television, personal text messages and social media. Although there is nothing wrong with each of these things in moderation, they can be a great excuse to distract them from work and procrastinate. Fortunately, there are tools available for those who test themselves. They may turn off text notifications, mute social media during certain hours, or simply not have a TV at work.
Justin Halladay offers additional thoughts on the importance of business advisors
Business professionals who have already achieved goals that a first-time business owner wants to achieve in the future are often willing to share what they’ve learned. Justin Halladay agrees with that statement.
When looking for a mentor, Halladay advises new entrepreneurs to look for someone in the same industry. These advisors will have the most practical advice as they have overcome many of the hurdles a manager faces. LinkedIn, the local chamber of commerce, and entrepreneurs who post in their social circles if they’re looking for a mentor are all great places to find a good match.
Along these same lines, Justin Halladay urges new entrepreneurs to surround themselves with positive and influential people. Having a single negative person in a work group can demotivate everyone around him. He urged young business professionals to invest in people and relationships. Jobs and situations change, and he feels that it is our relationships with others that ultimately give life meaning.
Think beyond accumulating personal wealth to make a real difference in the world
Justin Halladay loves to give to others. While building a personal fortune early in life is rewarding, he derives the greatest joy from giving away his wealth. He recommends that self-employed people make a commitment to regularly donate to causes that matter most to them. Special causes are different for everyone, but the key is to identify them and pursue charities and non-profit organizations that aim to improve the quality of life for those they serve.
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