Justin Halladay feels fortunate to have been involved in several entrepreneurial ventures thus far in his career. Currently self-employed in the information technology industry, Halladay has also started companies in the field of education and sales. His work in IT has taken him in many different directions, among them software development and IT support. He has also offered his services to everything 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 transform the world of non-fungible tokens (NFTs). NFTs are blockchain assets that are cryptographic and contain unique metadata and identification codes to differentiate them.
Halladay is excited about the possibilities that changes to NFTs will create in the world of altcoins. He is currently focusing on three main areas and will soon release full details of his plans. This includes:
- Starting a new precious metals company to complete NFTs.
- Creating an educational system and e-book that provides insightful and valuable content for early stage investors and entrepreneurs. Halladay hopes the book and course materials will inspire investors and startup owners to create their own unique path to success.
- Release of new components related to real estate and games in the metaverse.
Regarding the last point, Justin Halladay describes the real estate in the metaverse as an online network consisting of multiple virtual worlds. It targets the broad digital environment it is creating to support commercial and social activities. Here are just a handful of examples of the activities Halladay expects to take place in the metaverse:
- Interactive virtual socializing
- Play games individually or challenge others online
- Read, download or listen to online content
- Watch digital concerts
Virtual worlds like the ones Halladay envisions already exist. He’s just using his expertise as a tech entrepreneur to identify what a promising trend this is and jump in early by buying virtual real estate of his own. Sales in the virtual real estate space are on pace to double from $500 million in 2021 to $1 billion in 2022. Roughly a dozen online platforms are already selling virtual real estate.
“Location, location, location” is the rallying cry of realtors in the physical real estate space. However, location is much less important in the metaverse. When asked to explain, Halladay states that what an investor does with their online real estate is far more important than where it is located. For example, early investors have already leased their online real estate to others for the purpose of building virtual storefronts, creating digital experiences, or displaying ads.
Halladay describes two popular companies that rent online space from virtual real estate owners. One is the auction house Sotheby’s, which rented a building in Decentraland to welcome the avatars. Once inside the space, the avatars walked around and took mental notes of the items for sale. The other company was Miller Lite beer. During the 2022 Super Bowl, Miller Lite opened its online rental space Decentraland to allow 20,000 avatars to interact in a virtual bar.
Another example of capitalizing on virtual rental real estate comes from Nike, the shoe company that also invented the game Roblox. Avatars can play Roblox, try on different pieces of Nike gear, or just hang out.
What excites Justin Halladay most about real estate in the metaverse is that the opportunities to create something unique and earn an income are almost endless. It does not face the limitations of physical space, such as in a concert hall or football stadium. People visiting his new online virtual worlds can pay for games or goods with NFT.
Teaching others the same way he learned from his mentors
As a man of deep Christian faith, it is important for Halladay to share what he has learned with others so that they can achieve the same financial independence that he has. He describes himself as extremely fortunate to have had some excellent and caring mentors. According to Halladay, his early mentors gave so much of themselves to help him become the man and business professional he is today. He thinks it’s only fair that he pays it forward.
Halladay also sees the benefit of being part of a business ecosystem that involves a reciprocal flow of people getting in and out. He summarizes this philosophy in three simple words: learn, master, and learn. All three of these actions are equally important for an ecosystem created and operated by entrepreneurs to continue to thrive.
Justin Halladay offers insightful advice for budding entrepreneurs
Halladay believes that the Bible offers answers to some of life’s most difficult questions, regardless of what belief system the reader ascribes to or whether they have any faith at all. He recommends that all new startup business owners create a strong spiritual foundation for themselves. Halladay personally begins each day with Bible study and takes time to visit with his wife and three sons. Engaging in these activities helps him put everything into perspective and reminds him why he worked so hard in the first place.
For Justin Halladay, building resilience is the next step in entrepreneurial success. He recommends setting small goals first and writing down the steps needed to accomplish each one. Halladay recalls the overwhelming sense of satisfaction he felt as a young entrepreneur when he achieved his initial goals. By accomplishing small early goals, Halladay developed the confidence to create new ones that were increasingly challenging.
Another piece of advice Halladay would give new hires is to discipline themselves to avoid wasting time on distractions like television, personal text messages and social media. While there’s nothing wrong with either of these things in moderation, they can distract from work and become a great excuse to procrastinate. Fortunately, tools exist for people who find themselves tempted. They can turn off text notifications, turn off social media during certain hours, or simply not have a TV in their workspace.
Justin Halladay offers additional thoughts on the importance of business mentors
Business professionals who have already achieved the goals an early-stage business owner would like to achieve in the future are often willing to share what they’ve learned. Justin Halladay certainly fits that description.
When looking for a mentor, Halladay recommends that young entrepreneurs look for someone in the same industry. These mentors will have the most practical advice because they have overcome many of the same obstacles that the mentee faces. LinkedIn, the local Chamber of Commerce, and entrepreneurs putting the word out in their social circles that they are looking for a mentor are all ideal places to find a good match.
Along the same lines, Justin Halladay urges young entrepreneurs to surround themselves with positive and ambitious people. Having even one negative person on a work team can bring everyone around them down. He also urges young business professionals to invest in people and relationships. Work and circumstances change and he believes that it is ultimately the connection we have with others that gives life meaning.
Think beyond the accumulation of personal wealth to make a real difference in the world
Justin Halladay loves to give to others. While building personal wealth early in life has certainly been rewarding, he takes the greatest satisfaction in giving away much of his wealth. He advises all self-employed people to try to make regular donations to causes that matter most to them. The specific causes will vary for everyone, but the important thing is to identify them and follow up with charities and non-profits that aim to improve the quality of life for those they serve.
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