Justin Halladay discusses new business ventures and tips for other entrepreneurs

Justin Halladay has been fortunate enough to be involved in several entrepreneurial ventures in his career so far. Currently self-employed in the information technology industry, Halladay has also launched companies in education and sales. His work in IT has taken him in many different directions, including software development and IT support. He has also worked for small startups with few employees to multi-million dollar companies like Morgan Stanley.

A few months ago, Halladay announced that he was working on several new projects that would change the world of non-fungible tokens (NFTs). NFTs are encrypted blockchain assets that contain unique metadata and identifiers to distinguish them.

Halladay is excited about the opportunities that changes in NFTs will create in the world of alternative currencies. He is currently focusing on three main areas and will announce full details of his plans soon. These include:

  • Form a new precious metal company to complete the NFT.
  • Create an educational system and eBooks with insightful and valuable content for investors and early stage entrepreneurs. Halladay hopes the book and course materials will inspire investors and start-up owners to forge their own unique path to success.
  • Publish new components related to real estate and games in the virtual world.

On that last point, Justin Halladay describes real estate in the metaverse as an online network of multiple virtual worlds. He intends to use the rapid digital environment he is creating to support business and social activities. Here are some examples of activities Halladay expects to happen in the Metaverse:

  • Interactive virtual social
  • Play alone or challenge others in an online network
  • Read, download or listen to online content
  • Watch a digital concert

The virtual world that Halladay envisions already exists. He just used his expertise as a tech entrepreneur to identify this as a promising trend and jumped into the game early by acquiring his own virtual real estate. Sales in the virtual real estate space will double from $500 million in 2021 to $1 billion in 2022. About a dozen online platforms are already selling virtual real estate.

“Location, location, location” is the slogan of real estate agents in the real estate world. However, location is far less important in the metaverse. When asked to explain, Halladay said what an investor uses for their online real estate is far more important than its location. For example, early investors have rented out their online real estate to others to build virtual storefronts, create digital experiences or display ads.

Halladay describes two well-known companies that rent online space from virtual real estate owners. One is auction house Sotheby’s, which rented a building in Decentraland to welcome avatars. After entering the space, the avatar walks around and makes a mental record of the items to be sold. Another company is Miller Lite beer. During the 2022 Super Bowl, Miller Lite opened its leased online space, Decentraland, to allow 20,000 avatars to interact in a virtual bar.

Another example of using virtual real estate for rent comes from Nike, the shoe company that also invented the game Roblox. Avatars can play Roblox, try on different Nike gear, or just spend time socializing.

What interests Justin Halladay most about real estate in the virtual world is that the opportunities to create something unique and earn income are nearly endless. He doesn’t face physical space constraints like he does in a concert hall or football field. People visiting his new online virtual world can use NFTs to buy games or goods.

Teach others the same way he learned from his mentor

As someone 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 as him. He describes himself as very lucky to have some excellent and caring mentors. According to Halladay, his early mentors did a lot to help him become the man and business expert he is today. He felt right that he only needed to repay early.

Halladay also sees the benefits of being part of a business ecosystem that includes a reciprocal flow of people in and out. He summed up this philosophy in three simple words: learn, master and teach. All three actions are equally important for the ecosystem that entrepreneurs build and operate to continue to thrive.

Justin Halladay’s Insightful Advice for New Entrepreneurs

Halladay argues that the Bible provides answers to some of life’s toughest questions, no matter what belief system readers fall into or whether they have a belief. He advises all new business owners to lay a solid spiritual foundation for themselves. Halladay began to study the Bible in person every day and spent time examining it with his wife and three sons. Participating in these activities helped him put everything in perspective and reminded him of why he worked so hard in the first place.

For Justin Halladay, building consistency is the next step in entrepreneurial success. He recommends setting small goals first, then writing down the steps needed to achieve each goal. Halladay remembers the great satisfaction he felt as a new entrepreneur when he achieved his original goals. By achieving small early goals, Halladay developed the confidence to create new goals that gradually became more challenging.

Another piece of advice from Halladay for new self-employed workers is to discipline yourself and avoid wasting time on distractions like TV, personal texting and social media. While there’s nothing wrong with these things in moderation, they can take focus away from work and be a good excuse for procrastination. Fortunately, there are tools for those who find themselves tempted. They can turn off text notifications at specific times, mute social media, or have no TV at all in their workspace.

Justin Halladay offers more thoughts on the importance of business mentors

Business professionals who have achieved what early business owners hope to achieve in the future are often willing to share what they have learned. Justin Halladay certainly fits that description.

When looking for mentors, Halladay advises new entrepreneurs to look for people in the same industry. These mentors will receive the most practical advice because they have overcome many of the same obstacles mentees face. LinkedIn, local chambers of commerce, and entrepreneurs who advertise in their social circles that they are looking for mentors are all ideal places to find mentors.

Likewise, Justin Halladay urges new entrepreneurs to surround themselves with motivated, ambitious people. Even one negative person on a work team can disappoint everyone around them. He also urged young business professionals to invest in people and relationships. Work and circumstances change, and he believes that what ultimately gives meaning to life is our connection to others.

Think beyond accumulating personal wealth to make real change in the world

Justin Halladay loves giving. While accumulating personal wealth early in life certainly paid off, his greatest joy was giving away most of his wealth. He advises everyone who works for themselves to make regular donations to the causes that matter most to them. Each person’s specific reasons will be different, but it’s important to identify them and support charities and nonprofits that aim to improve the quality of life for the people they serve.

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