Came down from the heavens and said you're done. Yo, can you hear me? I can hear you now. That is clear audio. OK, ladies and gentlemen, hold on one SEC. Kicks. Easy. Ben Spencer and signal are in another space.
I don't think people can hear me. I don't know you guys can feel free to join the the morning show and hear that one. Now you can't OK well it's pinned to the the the the things pinned at the top. So if they wanna come in they can come in.
So if you look at the at the bottom icon, there's that little. Ohh, you could do copy, link or share or Twitter or whatever. Invite a friend you're saying the invite link. Yeah, when you send an invite link it brings it directly to whatever channel.
Like when I go to invite people, it says this channel is private, only select members and roles can do this channel, and there's a lock. There's a little lock, well you have to verify to get in the server, right?
Oh damn, wait is Eric recording it too? That would be better. Yo young, Eric? I'm assuming that the yeah, it doesn't matter. We have a backup. I'm assuming he is. Oh is it? Is it not sufficient if I click the record button? PO is that what the situation is at this point in time? I like it. If it does it better.
Yeah, that was the point of getting link. Yep, that is. Eric just pinged me and he's recording it because he's always on it. Alright, so Ben, this not this link at 9:20 is the right like. I'm just going to tweet this out and we'll get into the, we'll get down to business. Here is the discord link.
Tell him Bennett kicks Arnold. Sometimes you see an opportunity in life and you have to tap you. Take it and guess what? I'm willing to rat out my accomplices. He was there. Ben was there. Spencer was there. We were all trying to take over.
All right, so we got, uh, we got the squad here. We're doing our little show, we're just doing it a little bit different. Hope about any music. Can you hear a sound effect? But if I do that, yeah yeah ohh there we go yeah breaking news we're fucked right back to you pal. Hey Nick can you play this is the way we ball by little flip.
And you're in the the live from the portal discord, right? Ohh yeah, live from the portal discord, ladies and gentlemen. If you've never been here before, welcome. We do paddle people when they come in for the first time as an initiation thing. So do do be careful of getting paddled on your way in what I will say too is it's actually pretty cool that when I speak my rust, PFP gets animated. But when I stop.
It stops, you know it's that's actually a props to discord on that they got that right, but they didn't get basic audio shit, right? But anyway, this is the morning show we got over 500 people in here. That's great to see. That's amazing conversion from from Twitter. It's Friday and I feel like in order for us to get in the groove, I think we should just start with signals. Weather report. I think we should just get right in a signals weather report because that gives the show structure. So why
I I also just off the cuff weather report by captain kicks I'm on a beautiful Discordian stage with lots of people I love and know. Let's get right into the details. Today is Friday. I don't know the day in August, but I'm sure plenty of you do. But what's more important, open seat barely hit that $20 million volume. Now that sounds good at first glance, but when you factor in, that eats that 1800 volume. Got a little weak yesterday.
The previous day before we have Bitcoin sitting just below $24,000 Bitcoin in a nice way is dragging ass. Pretty much the only coin you want to be in right now is the etherium hanging out, just shy of 1900, and on that note we have some big news. Metallics said they have an official half hash rate for the merge and it's looking like it's going to land on September the 15th, so mark your calendars.
Leading the volume once again, albeit pretty weakly, only at about 500 E, but that floor sitting at 0.85 a little bit of action in the crypto punks realm, they did just shy of 500 Ethan volume, crowd, favorite aliens, aliens that floor is just.
Developing a nice little range in that area. So it's at .52 right now. It went as high as the .8, I want to say, and now it's leveling out right there. We talked about it a lot on the show yesterday, so I won't go into details there. Easy is currently driving down to Florida to move to Miami, but what's exciting them even more than that is that other deeds price continues to fall. He famously said that it was going to 1/8 when other deeds was at 5. It's at 1.9.
Three right now, moon birds flying to find a floor. They're sitting at 13.88. If you don't know which you should meinberg had a little bit of an issue with Kevin Rose abruptly switching things that CEO that floor is taking a little bit of a beating. We got lunate Yacht Club at 15.551 of the there was a revolt over there in the ape section of the community after Big Brother matches marketplace.
Yeah, now I'm now I'm uh, you know, just absolutely filthy. Rich, thanks to asking the hard questions. Your big short position on that collection. Well done in a another example of kick just losing money left and right in the past couple of months. Clone X is below an 80 floor at 7.69. Ouch, seems like a lot of projects are repricing because of the surge ahead of the merge for E. But also there's just.
There's some weak NFT volume outside of a big Wednesday that we had, but that's it for your impromptu weather report. I know it's a little all over the place. I was literally reading off of my tiny little phone. I didn't have a weather report in front of me. Back to you in the studio. Hope you all have a great weekend. Well, look, great job and thanks for wishing us a great weekend. I don't know if that means that you're going to leave the show for the day that he's out the hit piece out. The ot
Definitely. Let me know if the audio abruptly starts coming out of the Twitter show, cause I feel like that's not an impossibility. So that's something in like that we probably should just be aware of because we might be able to shift back to Twitter here in the next hour. But regardless, yeah, I mean look, we got the the blue chip NFT's have been slowly, slowly bleeding, right? There's no other way to put it. They're just slowly bleeding and then you're getting a random.
Isolated pumps where you get a free mint like rare apepe that ends up having a crazy run up to 1/8 and then what I would describe is like relatively weird price action between .6 and 1/8 over and over again. Like all of a sudden in a 30 minute span it pumps from .6 to 1 eighth then back down to .6. I tweeted about this yesterday. A lot of this shit feels weirdly coordinated. You got eight aliens hanging out.
At .52, and then the rest of the market. Yeah is just a slow bleed minus some of these intense intense pumps like digit daigaku or whatever the hell it is that had the most face melting. Rip out of everything.
You know I was talking to John Carlo yesterday on the phone and I was comparing this to like you know, in between cycles historically with Bitcoin, what those things must have felt like, and it's like, you know, in the moment it just feels like like everything's going down. At some point we're going to find a bottom, but like I just wonder where we're actually at in the cycle here, and I think all eyes are literally on Ethereum because we basically like.
DC investors said we have literally the biggest event in the history of crypto since the advent of Ethereum. Or you could make a case you could. The only things that's Bitcoin, well, you say, since Bitcoin. I guess you. I guess the creation of ETHERIUM would be the only other event you could argue would be the creation of Salana. I know easy would probably argue that, but like I feel like that's not even as significant. Yeah no one really cares about that blockchain.
So yeah, so I mean like, I don't know like based on what I said, does anyone have any kind of like thoughts on any of that? Like where we're at and is well, I don't think that all of the blue chip are slowly bleeding like crypto punks are up substantially. Only one up is that other moon birds bleeding, mutants bleeding, everything's bothered. Other needs aren't aren't a blue chip. They are run by Yuga though, but.
Yeah it is interesting. It's it's an odd time in the market. There's still volume, but all the volume is among these like short term pumps. And it's not clear that any of these have any sort of lasting capability, and if it crashes again, which who knows, that was like the anticipated thing. Everyone was saying that, but no one has any idea that. Then yeah, then all these thoughts will drop in price even further.
But but you know what I mean though it's like if a mutant ape is 29 grand right now, then what? What is truly fair value is it $11,000? Is it $18,000? Like why? I think Spencer's trying to chime in because I bet he has some interesting to say because like fair value, subjective right PO and it's like dependent on market conditions. Like because there's no fundamental value to these things so you can't get like a price to book ratio. But what are you going to say Spencer?
I'm gonna say a couple of things. First, I I'm not gonna let Nick's comment that other deeds in a blue chips that buy. It's one of the highest volume collections ever. In terms of transaction volume, it's Super Liquid and I think you will get like faked out by other deeds because the floor looks low. But there's 100,000 of them, right? So like a 2 eighth floor in the 10K12 equivalent is like a 28th floor like it's still higher like like the market cap of other deeds is higher than the art market
A blue chip and FT and not call other deeds of blue chip and FT. That was the first gripe that I had, but then I was also just going to say that when when looking at the market like what's interesting is.
I'm just like you've been super volatile, right? And that tends to be a bad environment for NFT's. From what we've seen is like NFT's. Go down with volatility in the short run, but in the longer run whenever you like crab walks, then like it, it it's.
And it's bullish, and so I actually think like the upward price action of ETH is pretty bullish for Fe. But also as as I've said before on the show, like I'm giga bearish on the merge for price action on Earth. I think that this pump leading up to the merge is just like like there's nothing really changes that fundamentally after the merge in a short term and long term time horizon, but like decreased power usage, etcetera. Like that's a big deal. But in the short run, the decreased issuance is
And so I don't know why everyone's pumping hard into the merge, but this feels like one of those times where we've seen annuities or things pump into an air drop and then the AirDrop happens and everything crashes because it was just pumping cause you were like, oh like AirDrop free money. It's the same thing here with the merges. My view, I think that's probably a pretty sober take. I've seen a lot. Like I find it hard to believe that we're suddenly going to go into up only mode when we just ex
When I bring up, you know, like it's all. It's a meme people get. So like you know, giggly and get ready to roast me when I bring up the Bitcoin stock to flow model. But it's basically the only kind of standard thing that we can refer to that makes it really easy to tell where we are in the Bitcoin having cycle, which does inform this whole market that we're in now. We have this weird event AKA the Ethereum merge, which actually is.
Like we talked about one of the biggest things like a top three thing in the history of crypto, with the only things bigger being the invention of Bitcoin and Ethereum. So that could throw a wrench in some things, but we have to understand where we're at and we're still, I think less than or less like two years or less. I forget how many total days it's like 600 days or something away from the next Bitcoin having. And so there's going to be tons of like bull traps. There's going to be, you know.
Valleys and then and then pull backs. And I just find it hard to believe that we're all of a sudden going to go into up only mode right now. I mean, obviously this shits incredibly difficult to time, but it's even harder to figure out where the hell we're going with the NFT market and all of a sudden when we look at NFT, I think, besides random isolated pumps that have to do with price action. Let's say you're a long term investor in the NFT space. Like what are you going to get excited about?
Right now that an NFT does, like I feel like, the only NFT that people are gonna get really, really excited about are gonna be like if Alexis Ohanian puts out an NFT. That's all about like that that he says. This is my NFT, and I'm just using him as a DOTCO man. If they drop CC on that man, I'm just acting right in. Like we got to get it. That means I can create art. Nick gets if you just got a Co. Everything. If you want the balloon to come back, you just gotta accept it moonbird
One image I'm not the artist behind it, so I we would need to talk with him and he would need to make that decision. So that's the only reason that we haven't done it. I was ready to just pull the trigger and say you know what? Fuck it CCO take that image which is relatively complex and yeah and do with it what you will just make some, maybe graffiti on the walls of the buildings and do what you want. I love it and and PO I I completely agree with you.
Like if I can't say the name and I'm gonna call the aliens or aliens aliens, whatever. What aliens, aliens OK, you could have got them for like 2 days at .2 and now they're at .5, so it wasn't just like you know, like a completely random pump and dump. But that was like a 4X in a day. And if you actually look at like the the what the project actually did, it's like you know 00 royalties. It was free to mint.
May have the full back story on that, but that's actually like 2 famous game designers. They created a new company that got pretty heavily funded a web three-game startup called Limit Break and that was like their first drop. So that's why that one like really surged up in prices. I think the guys were like the game designers behind maybe like Final Fantasy 9 or something like that. They had like a 12 year free to play like mobile studio, so there's still some interesting stuff happening in the
A bear market where we have to like mature a little bit and we have to kind of be patient and wait for the interesting opportunities to develop as opposed to like the bull market where we could just like throw money in anything. It would work like right now we really have to kind of like sit on our hands and wait for stuff that like seems significant like when you think about all of the people that really liked aid. Aliens like Brian Brinkman was in our discord talking about it at .2 K Dean righ
Those guys are legit that you know are behind the project, so I think they're still going to be interesting opportunities, but the macro is going to be weak, so we're probably still going to see some. You know, blue chips bleeding and stuff like that. So you really have to kind of just like be patient and take some shots, but I think you're 100% spot on in the macro. You know sense, like NFP's were. You know if if Bitcoin bitcoins the dad and ease the teenager, you know we're over here in diaper
Straight up, I mean that was fucking fantastic kicks and you're so right. So yeah, like I guess the digit daigaku pump is warranted because they're quality creators, and it's a gaming angle, so at least you can say, hey, this is going to be something my thing on aliens OK is? I get it, they're punks. They're OG's, they're they know what they're they're they, quote UN quote, know what they're doing and I'm not throwing shade right? But my question my question is why like? Why am I going to buy th
Like is I just view it the same way as crypto Dick butts in a way where a few key people decide that it's good and they buy it and they can kind of like let that fester and create a pump. But I'm not interested in taking risks with projects, right that like that right now. Maybe they can get it to 1.25 each floor, right? Like I just don't like projects where all we're talking about is the potential for the price to go up, and there's basically nothing else.
With that digit daigaku at least you can make a case that's something else is going on there. You know what I mean and I just like am not that interested in projects where it's like it's a good team because they bought crypto punks a few years ago and they quote UN quote know what they're doing and I just don't know why else you buy the JPEG, you know.
It's closer to cryptos, is what I would compare it to and there was like there was like little meme there out of it. The the distinction is cryptos, at least made some one of ones for different influencers, which was both a good idea and simultaneously infuriating. It's also sort of infuriating.
Which have gotten to a point where they can retain a high value and most of that is on the art side. Frankly, like the collectible side, isn't is remarkably volatile and it's hard for any of these things to sustain. So yeah, I don't know. I'm interested to see where this pans out, but.
Right now it's hard to get behind some of these individual pumps and some, and buying into it, it's just like it's super volatile, so you're buying into something you're saying. Do I want to hold this thing six months from now? And that's a hard thing to say yes to with a lot of these.
Happy Moji clap emoji. Blue heart emoji clap emoji. Jesse what's on your mind? Dude, you're you're. You used to be active as fuck and now this market is has you know it's got you on your knees what what's on your mind, Jesse?
You know, I have been trading actively. I don't see. I mean, again, I think my theory has been for a while that the ETH action is kind of decoupled from FT is of course, everybody's in crypto, so if there's a catastrophe, they're going to go down and out. But yeah, I really have felt like as as we all got hurt so bad that now that death is going up, the fact, literally the fact that you can like refresh every day and your money, just if you just have it, keeps going up and keeps going up.
Feels so much more satisfying, satisfying than the the stress of buying and selling NFT. So yeah, I don't see much to get excited about at the at the moment. And then I think there's so many people. New entrants have been seemed to be so skittish that it's hard to get excited about any particular new project so that it is really kind of.
Kind of a double whammy. You know, people are a little bit scared and then the people that were going to bring new action, you know, no one's now, no one's going to drop. I think you guys talked about your other than yoga or at least online, no one's going to drop another in the derivative. That's like kind of a dead end. I think people think that's, you know, every other derivative or not derive, whatever you call that the pet project. But, you know, the the second drop, AirDrop, AirDrop. Norma
15 September 16th. It's it's going to be relatively quiet. I mean, I was surprised that we even had this nice little bump in in volume in the past couple of days, so I mean, obviously people are still interested, but it's really hard to find like a narrative encrypto or Meadow. Whatever you want to call it and, and that seems to be lacking still.
Basically, issuing new tokens is like the worst thing that projects can do at this point in time. And and it's outside, I mean, you can do new ones, but anything that increases the supply is just going to kill it.
And so like for example, someone reached out to me, that's like a really talented artist in the space that makes like physical stuff in real life, and they're in the digital world now. And I really like the stuff that they do, and they asked me, what if I made something up and and we AirDrop it as a token to your holders. And I was like, absolutely not. I was like you can make the physical right and we can do like basically what's like effectively a merch collab, right? But like.
Why would we possibly introduce another token randomly that then has a price on open sea forever? The bottom line is you don't want to put stuff out that goes to zero, and we're coming off of a lot of people making mistakes in NFT's you know people saw Youga Labs. Do the dogs the mutants and then more and they thought OK, cool. Well that's the playbook. The difference is there was definitive interest in buying Hugo Labs.
Assets and the number one reason was actually cultural relevance, which is basically the hardest thing to get in the space. And it's like a lightning strike. You can't really recreate it, or recreating it is insanely, insanely, insanely difficult, and it takes time. So like when you look at world of women dropping 20,000 more assets when you look at dead Fellows dropping 20,000 more assets without any real reason to buy those assets, all you're going to get is that slow bleed.
And then people are gonna look at crypto punks and they're gonna say crypto punks are historically significant. They're not really gonna worry about the risk associated with Yugo Labs buying them, and they're going to say out of everything in the whole NFT market. This is what I want to park my money in and then even with entities that didn't really quote UN quote dilute their supply too much because I actually don't think that, for example, moon birds. Having I thought that there were ten thous
And yes he fucked up. Or you can make a case that there was a fuck up with dropping the oddities and then now the Ravens are going to come out and then people are all confused about the CCO thing, but it's like yeah, even even Kay Rose who a lot of people were thinking was like the Golden Boy of this shit and really understood how to do it. May have diluted a little bit, it's it's just not the answer and I don't know. I look at all these projects that are.
Out and I just start to think like and and then. Alright, how about Goblin town, right? Goblin town slow bleed 1.75 E. Now coming down from 9 E because I think a lot of people were like, well you guys were doing some crazy stuff. What's the next thing right? Like what's actually the next thing? What's really going on? It's it's a strange time in the market.
And and it's a small market. There's only like a few people even making content on the NFT market right now. And when I was talking to John Carlo last night, the comparison I made is imagine if you were a Bitcoin content creator in like 2015 or 2014 like not only must it have been weird because the audience was so small, but you also maybe felt like you were crazy and you maybe felt like you were actually like losing your marbles. Believing in this magic Internet money that ran up to $1000.
The year before, and now it's worth like 80 bucks and you're down 90 plus percent. You probably just felt like an idiot, but the people that ended up sticking with it obviously were rewarded in a crazy way. Whether it's just holders and accumulators during those periods, which most people are. Or if you're actually built like, you know, quote UN quote building in the space, whether it's content or something else. If you really stick around, you get rewarded. Coming on the other end. So I just th
You know the entire market, so you know sometimes you know all these projects we have, especially with the when the when the free media and people are like oh, we can make money. You know you can. You can take a flyer or not lose out in that you have a dev and just make a project. So all these free projects come out and it's like you can only sustain so many so it's and with with such a short attention span.
Even a good project. Go back to Animadas and you know then just something like that. We can only sustain so many without without increasing the number of consumers. I mean, if you're I think someone like punks comics should should start. Should try to figure out something with a burn mechanism. I mean the problem there is you have to figure out why would you burn. But if you burn like 10 planets and you can get like a one of one special comic that they you know partner with Marvel or someone els
I mean, people should start thinking with, I think about, especially like that if you have. If you have a treasury, start thinking about burning. You can always. You can always drop more later, but like you have to kind of think like a macro I'm I'm more of a macro economic level. In fact we have too many here. If you have, you know yeah, 10 comics and a whatever they have so many things I can't even remember. You know you actually get something real art or access to something really good instea
Sorry, said we can't hear you discord. Audio is really really hard. So yeah, I mean you brought up pixel vault. Pixel Vault has like infinite money at this point. You know when you kind of look at them compared to other NFT projects so they can actually just stay quiet for a while and then be totally ready to rock when we have the next. Like kind of wave of adoption if you will. The other thing that we talked about a lot of times is like when.
No one knew is coming into the space right now because there's no attention on NFT. There's kind of no reason for a new person to come in right now, and we need to have advancement in user interface, which will come right? So what do you think about it? User interface advancement will come, and what I think I could see because right now, there's like a narrative of everybody hating NFT's and blah blah blah this. That, and the other thing. But then you think about it in a few years, the way that
If these big entities like Mr Beast, Barstool Sports you know, insert, you know the nelk boys. I know they already did in FT but like entities in media and content in business that have big dedicated audiences, you know the the luxury brands totally could be in in play here like Dolce and Gabbana like brands that people go crazy for in whatever medium. That is when you start to get actual.
Left utility like we're actually having the NFT actually gets you something right which we don't have yet, but we will have inevitably just like in the early time with Bitcoin. People would be like, well, what the fuck is this thing even for like blah blah blah once that actually comes, that's when you hear a narrative shift and you can hear like you can almost just picture somebody that's not an NFT participant. Now that's not an NFT believer right now, but you can hear them saying, yeah, but a
I bought that NFT because when I bought the NFT I can do this or I get access to this and as we get more integrated with the quote UN quote metaverse right the trigger word everybody hates. Talking about the metaverse right now because no one believes in the metaverse but all of a sudden when there's actually desirable shit that you can do from a digital perspective. Whether it's with VR goggles, augmented reality tools, something you know on the Internet, that's when NFT utility starts looking
We also have requests for speaking. It didn't work which I can't see. I can't see those requests. Ohh I I can. So if you if you want I can add some of those people up 1000% I'd love it. I just can't see those requests.
No, I know because you're on desktop so I just switched to mobile to test this out and it works perfectly. So I'll just yeah, people can contribute. That's a direct bug. Think about that. Like literally, I can't see the the the hands raised on desktop anyway, we got no I don't need. I don't even need to imagine it. I just experienced that P. So let me tell you like it's it's. It's a real thing that just happened. I can't see other people but now I can't. So we got people. We got people baby well
Like and that's what's exciting in the NFT market. That's the entirety of what's going on. Like it's such a contrast from last year. And the problem is, is some of the shine is also wearing off at the same time, which just makes this all all the more difficult, right? Like you're seeing some of these projects that aren't delivering anything.
And and and so it just feels like OK? Or is all of this just a bunch of slow rugs? You tweeted it. I was I. I was going to tweet the exact same thing. Basically 95% of the projects in this space will rugs and including a lot of the ones that pumped to significant levels. I mean what? What is the zookie at right now? That's one where? What about Neo, Tokyo like I think about that project all the time and that one is like what have they done in God knows how long? That was an 88 four at one point.
Well yeah, but still I mean the. The fact was people weren't even willing to sell it. Let's say they cut the four and a half down to 30 E that at at three K that's $90,000. So I mean, yeah, like it, we were at absurd levels, but like.
All of the hype around that was so absolutely absurd where people are saying, yeah, this makes sense. I think what was like and maybe even for us and was refreshing for us was like we were. We just came up to discuss the absurdity of all of this. That was the thing that was like kind of.
Basically the foundation of this show and now a lot of that bubble is sort of popping and so the question is, well, what do I hold at these prices or where is the opportunity to make money? If there is an opportunity? There was one tweet that or I saw NFT God had written something. It was like by and large you lose money if you invested in NFT's. But if you built 100% of those, people have made money basically and for better or for worse. And so the question is is like. Well what can you do like
You go, I've gotta you go labs we so we met we couldn't name on maybe one hand the number of people that are properly capitalized and probably developing something substantive. I think what we missed was a lot of infrastructure. People that are building stuff I think of like Gen XYZ&YZ yeah and pre men and some of those others that are like they're building legitimate things. But like we need. Like you look at Meta mask and some of these.
Other things like Metal Mask is like slowly evolving for literally all last year. It felt like nothing changed with meta mask though and that's the the product that all of us were interacting with. Could you imagine like Facebook not having released anything for just like a year that when they were when they were pumping?
Too, like you mentioned like you were gonna ask about the whole side of stuff. There's been so many developments on Solana from Phantom was not even around when I got into soul. Like people using solar flare and solid. And now there's mobile applications. I just feel like the development on other networks is slowly outpacing a lot of this stuff on heat, and for me, that's like where I'm finding other opportunities like I've even started looking at other chains for NFT's that still are seeing eve
Well, the upside there is also substantial, right? Like if you can get a blockchain out the door. Right now you can raise 4080 a $100 million that. Well, I don't know about this exact market that we're in, but during a bull run you can raise as much as base. Basically the highest.
Highest NFT projects have raised the irony. There is like the highest NFT projects weren't building a damn thing outside of Yuga Labs. But even they weren't. I don't know that they were building technology and it's not even clear that they are at this point because what they're investing in is, they've partnered with another company that's doing that. I like it. More off park. What technology they building. I think of pixel vault. They're not building any technology, they're they're. They're fun
Like other gaming agencies, which is what they were looking at acquiring, if they and I think they may have acquired a game studio, but like that's not new development in this space, and so instead a lot of that stuff is happening in other areas. I don't want to say that it's not happening because there are many like people trying to like do like on chain innovation, but most of the stuff is that the people that are attracting developers are those that are building like actual blockchains and th
So there was like actual technical development innovation that was happening. Ruby on Rails was something that helped developers build faster and now people say it's crap. But whatever I feel like it. But the bottom line is, there's like there was technical innovation that enabled people to develop. You had a WS which build built cloud computing.
In the blockchain space, really all we've seen is we there's two areas that that exist. You see, like the blockchain, where we have E creating a merge, so there's a lot of developers working on that. You see layer 2 development where, so there's a lot of developers operating on that, and then you see EVM compatible layer ones and other layer ones. So you see Salana you see.
And all the good stuff. Yeah. So that's where a lot of the action is at this moment in time. And I kind of agree with you easy that some of those apps that are being built there is really where the exciting stuff is. The NFT space is fun and it's it's the most, it's the most entertaining of all the spaces and that's why we love it. But the hardest thing is it's like if we don't have people that are fundamentally developing technology on this, then it kind of is the House of Cards. Yeah. And just
Weird ass like Web 2 video game Maxis responding. It's like dude, I I never see the curveballs coming. Like I never see what people are passionate about coming. It's just so random and weird, but I have to think that the easiest thing you can say NFT directly plug into and provide serious real utility to is video games. That's the easiest thing to point to. It's it's so easy to see.
Yeah, yeah no, you didn't cut out. I'm sorry I'm yeah. I'm saying that the massive like fridge there where it's like the Web 2 software as a service model where instead of paying a monthly subscription you get lifetime access by holding an asset and I think that's still.
We lost you. We lost cheesy but I get I get I get that. Can you hear me? Yeah yeah I'll just pick up on that exact point. I mean yeah it's like the L2 stuff is fine and all the the fancy EVM stuff is fine. But yeah, there definitely has to be more consumer facing like apps that are.
You know, fun, useful? Whether they're social media. Everybody went, you know you can't. You're not going to build the next Twitter overnight, but you can certainly build other apps. In the meantime, I think you know one click sign on it really is a magical innovation from a from a user friction perspective, right? The fact you click on and then you're kind of clicked in, not just you don't have to. Not only do you not have to have your password favor click up, but you could. Also, you know you
Every time so that really is magic. But yeah, there's still. It does seem to be lagging a lot like what else you can do with that. So yeah, I think that is kind of key. I mean like it can be pretty low fi mean everything crypto everything like disruptive for cryptos like low fi so it doesn't have to be like amazing. But since you're not going to have massive network effects yet because people still have to have a wallet.
That you know. I imagine it's kind of hard that on top of, you know, privacy was already a massive massive issue for all software you know, it was already becoming huge post GDPR and all this privacy stuff with all the leaks. And now when it's like you can have your bank account drained. It's just like it's just huge.
I mean the irony with a lot of this stuff is like you could build the theoretical like the NFT side of membership if you were building buying a software product. You don't need NFT's to solve that problem. If saying that there's a limited number of subscription spots and you can resell them, you could theoretically recode that and make your own. Sort of like mini marketplace. I. I'm not suggesting that that's worth the the development, but like.
It's it's an interesting concept, I just don't know if like on chain NFT's is really a necessity for that to occur, and that's the thing that for me is like doesn't really matter. I don't even know. Like there there's a lot of these things. We have a number of people also who are on stage dump all the new all people that are requested. Dump them all on this onto the stage and we're going to just mix it up for the last 24 minutes everybody. So I mean we got DJ gent.
So I can't spend the last 30 minutes you guys been having all these conversations about the space without. Unbelievably you didn't mention 10K TF because a lot of what 10K TF is answering all those questions because and they they just launched a new warm wallet or they're going to be launching a new warm wallet, which is going to basically be able to allow you to connect your cold wallet to a hot wallet and then use that the hot wallet to transact with their battle town site. So and.
And that that's going to be open, that technology is going to be, you know, eventually available to everyone. So that's a security. Something to working on to improve security in this in this space. And also, you know, if you look at it, the what they just did. I mean, you talk about something different, they just rewarded their holders, not with another NFT, but with an 8 drop. They they dropped, they got five and a half $1,000,000 with the crate and then they ended up bringing in twice that.
1.4 million and eight point so and then they only end up dropping free crates to about 10% of their holders, which it was the you know, the OG and the people that were participating in Battle Town, so that that's I don't see that being done anywhere. And then with your question about what can new people do to get involved in the space. You know, all you need is 1 game piece to get involved with with the project. So and it's. It's a lot of fun and it's something to do. You know, when you're invol
Has a really passionate fan base and 10K TF along with artifacts will in my opinion. If I if I Fast forward and I zoom out 10 KTF and artifacts will end up being the grailed metaverse wearables right and right now everyone's like Metaverse wearables. What the hell are you talking about? That's not a thing. The metaverse doesn't exist, but in reality in a few years it will exist and this will be the OG metaverse wearable stuff.
10 KTF, yeah, they are a Grail project. I think in the NFT space we will we turn to them for inspiration. I think also though it is absurd, the amount that we're paying for. I'd like the name of the game in this space is literally don't tell anybody what you're doing. And for that standpoint, it's kind of ludicrous. Well not completely. If you think of the apple, you don't know exactly what they're doing, although they're launching another.
For a future metaphors where we don't know how long it's going to take to develop where we're it was the same conversation we had yesterday about land 10. KTF is interesting just because they have narrative development and they seem to be releasing things on a regular cadence, and they generate excitement for their project. So yeah, I mean we're fans of that. I own a bunch of different 10 KTF items. I haven't bought the combat crates, although I feel like I'm going to end up regretting it, but t
Well, yeah, I don't have anything to add. Yeah, so we got a bunch of new speakers on stage. This is fun because I almost feel like people are more comfortable to come on stage here because it's like a private discord call versus like blasted out to Twitter. Well, it's not private, it's public. But there's fewer people in here than would be on the morning show. I saw Luna asking if she could come on stage come on stage Luna come while out or whatever you want to do on stage. But anyway, we got so
Inside profit and loss, and there's a huge amount of innovation happening into in in this space. And if you look at the people who are coming into this space, there's a lot of like the exec VP. Senior people at Mesa. Google, like all of these companies coming over into this space and the stories that aren't getting talked about is the infrastructure that's getting built. So you've got, you know, token proves what we knew is doing. What Zenger story for Zenger is doing this.
There's so much happening, but we don't talk about it because that's not a profit and loss game. The infrastructure does need to get better. It does need to evolve before we can go fast. But in the PFP lane, I think we're sort of, you know, coming to a traffic point. We haven't stopped, but the traffic is slowing before we can go fast again. And what's interesting about making money right now, I think, you know, through PO's point about last year, how easy it was to make money, you know, you guy
Making money now is like the people who I see succeeding are the ones who literally, like eat, breathe and shit. This space 24/7 like they they are just constantly trading and they're constantly tuned in, which is extremely difficult to do when you're trying to run a business at the same time. So it's not that there's not money to be made because they're raised, and I know plenty of people who are making and losing both at the same time, but these are the people who.
Make the kind of money that you did last year, but the opportunities are still there. Yeah, I mean, first of all signal I'm taken aback you, you said a naughty word there I was. I was shocked. I was stunned. But no, obviously your points are are on point look we got new. We got new peeps on stage bell. Let's first. First question, is your audio working bell?
I don't know is my audio working. It is alright. Hey, six point was absolutely on point. I'm going to add to that a little bit because we're talking about on boarding. We aren't getting any new people on here and we absolutely aren't. I would say, however, a lot of the people that still are sticking around were here during the bull run, but got here just a tad bit too late and weren't able to properly invest. You know, everything was already super high level. That a point that they couldn't. It'
Prices dropping or was dropping and NFT prices are also dropping, but they are the ones that are taking advantage of it. And I think that that's part of the reason, aside from the flippers, that we're getting into 8 lions thing. I pronounced that right aside from the people that were going into it, just straight from the capability of being able to flip it. Those are the people who you see that have been in this space for a minute who know who the OG's are, who have the hopium of saying, alright
I believe and don't really know what they're going to do with it, but I have the expectation or the belief that they know the right people and eventually we'll see something happen. So I think that's part of what we're seeing.
The onboarding part is what we're talking about, and I just think that this is how it works. DC investor was talking about this. How nobody would during periods like this. No, nobody wants to buy. People want to buy when like they want to. They basically foam that. That's basically what you're talking about. And you know when you interact with people that aren't in the space, the idea that you could tell somebody to buy an NFT right now, that's not in the space dude. Good luck, good luck.
They're not going to buy it right. However, once it starts cooking, that's when they'll buy it and basically be someone that's buying right now. It's exit liquidity, it's just how it works and time is going to put us in a position to get to that. And yeah, I mean based on what SIG was saying about the people that are eat, breathing and shitting the space. Those people are also insider trading. They're also in telegram groups. They're in, you know, discord groups, and they're just straight up ins
In my opinion to some capacity taking part in the if you want to call it coordination or manipulation or some of these pumps. But I guess, you know, get your money, do your thing. It's just very hard if you're not 1000.
I I think my MIC works appeal my guy. Yes it does what's going on. Nothing much. Thank you for having me up. I'm I'm a long time listener. This is the first time I've come up. I own your NFT I think you guys are great. You guys are on a great.
I I just I want to offer a counterpoint a bit to the land discussion yesterday and just the general bearishness of Mark Cuban and kind of also just the speakers on stage. Some people echoing his scene.
10-15 years later, that's all we do. That's all that's society is based around social media and status updates, so it it's very easy for Mark Cuban to say something like that about Metaverse land just because of the general market sentiment. Whereas I, I'm a metaverse landowner. I own a lot of land in Decentraland.
Two to three weeks, we've deployed Megaversal activations for Netflix and Snapple and I think Mountain Dew and all of these people, these these entities are coming into the Metaverse. These entities are paying land owners to rent their land, paying developers to develop experiences for them. And just because the the people who are on Twitter just did Gen trading all day, trying to look for the next 10 X.
This growing, yes we have a low number of daily active users, but there are still people like Netflix and huge brands that want to get into this Goldman Sachs. I mean it it was just in the past couple of weeks. Goldman Sachs predicts that the metaverse market size to be over $12 trillion. That's that's an insane number. And where is that money going to come from? And it's going to come from.
From owners in media versus developing experiences you I don't think there is going to be some endless metaverse that's open to everybody to create because that takes a metaverse. Takes an an incredible amount of infrastructure, server side developer side to support.
A free open metaverse. There has to be incentive for owners. There's the Internet, so I mean I feel like they're like you. You could have, and I mean the there are only a few spaces on the Internet that you go to because those spaces are good.
Yeah, I completely agree with that, although there's like that, that number could be like 100,000 places that exist on the Internet that are like actually that people go to versus and that includes like even mobile games and other places that exist it. It happens in many different forms, but the bigger thing is, and I think what and what we talk in particular about on this show.
It is the like the speculative aspect of it, and I think still to this day and it comes back to what PO said at the beginning. Basically is that by and large we're just seeing a slow sort of drop in the value of a lot of these different assets, primarily because they're so overpriced relative to future value or future utility. Like you may have a 10K TF bag that you're going to use in the metaverse. A lot of people have said positive things.
About other deeds, for example, where that was a great experience, but even still like the the what when it's not clear. I mean if they do it as one off events where thousands of people show up, I could see a lot of activity taking place there, but I don't know how many of those people are going to be like playing the game. Whatever game materializes on a regular basis and how long we have before.
And how relevant it is that you have like a skin in Fortnite doesn't cost $20,000 right? Like that's just not the way that it works. And I don't I. I can't imagine like a kid not being laughed, laughed off for having like a $20,000 Gucci shoes or something like that. Because if you did that in at least I don't know. Maybe you went to a school where that was acceptable behavior.
That's one of the biggest projects in the space right now. It's a metaverse land project and we have no idea about the actual utility of the land. How I mean, I feel like people are buying other side land.
Gonna have people adopting the metaverse. And yes, we also need better UI, better UX, better onboarding. But I just to finish up. I just that Mark Cuban stuff I. I think it's I think it's a bunch of nonsense. I. I think there is a lot of money to be had in the Metaverse. I'm a testament to that. I have friends that have made a lot of money into central and not selling their land but developing experiences for NFT projects for brands that.
I'm just offering my perspective. I really appreciate you guys. Thank you. Yeah no no worries. I mean look, I said it yesterday on the show that Mark Cuban is not a thought leader for crypto. That doesn't mean I don't want him on the show. That doesn't mean that I'm not a fan. I'm a fucking fan of this guy. You know what I mean, but that's not the guy that I'm looking. I would rather alright. Here's another thing that you can meme and you can make fun of me for. I would rather listen to what Mic
Even though he's like the Bitcoin maxi of all Bitcoin Maxis, I would love to just privately have a have a beer with Michael Saylor and be like, Mike. Give me the real scoop. What do you think of this shit? You know, and get like his real opinion because he's someone that if you can look it up like 15 or like right when the iPhone came out or like basically he's got a long history of predicting shit from a technical perspective that came 100% true like he is.
Able to kind of see 10 years, 15 years out and then place bets accordingly. So yeah, so we got desalter on stage. I don't think Desalter has come on the show before or maybe if they have a different Twitter name or different Twitter PFP D Salter. First question, is your audio working?
No, it's not. It's not working. Sorry, not not working for it. That's yeah, it was bound to happen. We we had two or three in a row there. So there's no way that you're going to keep getting wins like that. The camp out 1000 Desalter and I see you jamming on that mute button. That's not going to do anything buddy. Your audio is rugged, steep down.
Like we all saw aliens at .2 we all saw rare Pepes and I think a lot of us are in a in a stage tour. We're just fading everything that's new because we're so used to seeing like oh there's tons of utility or we're so used to our.
May or may not even be out yet. You know what I'm saying, so it's like I think a lot of us are waiting to see the apes and all these huge projects pumped, but without being plugged into the market 24/7. This in my view, there's still tons of opportunity. And then my second point would be.
I keep, I keep saying that oh I keep seeing that the elephant in the room, that nobody's really well. A lot of people are talking about it. If you're in that, but many people are fading. ENS because with ENS it's just as simple as oh people can grasp go get your username.
So many people in the NFC space are fading, just fading it because they don't. It's early, which to me that's bullish. The fact that we all know it's a thing but everybody's fading it and it's it's the lowest barrier to entry.
So that's that's the point. I wanted to make because even with the with when ENS was in a full out Bull Bull run, you know everybody was still. Most people were still painting it, and then they sold like the the the closing the flag with the numbers, those pumped and people were like, oh, that was a pump and dump. Meanwhile there was a bunch of people whom they could grasp that, oh.
Those are my two points. Yeah. On the ENS front, I just view it identically to domains, like Internet web domains and like Twitter, you know, Twitter usernames like Feroke Twitter username is literally at faroq. Like that's that's a good, you know, that's a good Twitter username, you know what I mean? And Jason Calacanis, his his Twitter username is is Jason. You know what I mean? So that's how I view ENS and yeah, like, I think.
That is a good thing. But like, you have to be creative in thinking like, you know, like, I don't think a lot of people are going to pay for steamy Jay dot E No, no offense, right? No offense. It's not the same thing as hope dot ETH or, you know, cars dot ETH or NBA dot E and I think that we, I don't want to say we missed it. There's probably still opportunities to get domains like that, but they're harder to find.
No, not not that. Not, not, not just that. But it's something people can write their head or it's a username and a lot of these things now that there's ENS vision, a lot of these things have flowers on them that that was the whole thing before EMS has been creeping up, but on an open seat there wouldn't, there would. There weren't categories and they still aren't.
Fundamentally though, my my biggest thing. Well, there's two things the the use case of ENS domains is still doesn't make it. It's at this point the way that they're being traded is literally like an NFT. I get a custom NFT. That's it. I can basically write my own line of text and mint that, and own that within the specific ecosystem that that's the primary utility. Yeah, you can go and write someone's name when you send them money, but like on the technical standpoint.
The way that when you code it, it doesn't actually function that way. So fundamentally they end up just giving you more work when they send you an estimate what that said, they're the one use case that I have seen which is interesting, and I think would be useful.
And what was suggested was there was a. There was an idea that was circulated that he had proposed, which was basically you have like let's say mine is nifty Nick dot E that I can have a separate address. The sub domainverify.net net dot E and I can have that point to a different address where I can go sign things on that account and you know inherently that I own the the root which is nifty neck Daddy.
Which which holds those FT. I'm just using that as an example, and that's something where I see actual utility now that requires an entire like ecosystem to support that approach. And now it forces you to say like hey, if you want to be secure, well then this is the way that you do that. So if you could get security as the utility that would that would change things. But outside of that right now there's no other actual true true utility out of it, because.
It's not the foundation of where people interact with you, and so I mean, you, I guess the other thing is you can look someone up on open sea, but you you also could have just given them a username, so it's it. You know to me it's it's yeah.
As far as I know, I don't. I don't know any of the speakers that that are in the rotation daily that have actually done a full deep dive and can it can say hey, this is the bullish case for you, and that's because it's it's a lot of people who are. Oh, I heard you. You can do this. Oh, this is just what you mentioned. Like, OK, you know. You know of like one or two.
So what you're the one owning it, presenting a bullish use case? So what is the bullish use case? And also, by the way, why choose an emoji? That's one of the most difficult things to like enter into the phone, because then the question is like, what race is the emoji or like? What color is the emoji I I wonder about that but but yeah.
There's a scarcity aspect to ENS domains. Now, with that, there's ENS vision so that that's one thing also, in the future, it won't be that you'll have to. I mean, this is the idea that you it won't be that you'll have to like find the exact same color. It'll be more like.
Like like on your iPhone right now? Do you happen to know anybody's phone number like everything is just based on contact? So I mean this future cases, but I'm just saying like yeah, the first time I could definitely not the phone number but yeah.
It's not me, but I sometimes I'm like yo, I I, I wish or hopefully at some point they'll have like a dedicated ENS guy, because it's a it's a thing. It's not here. It's not going anywhere. We're all bullish on Ethereum. It went on a full out Bull run and and everybody, and most people sentiment was still like, oh, I don't really know why that's a thing. Oh, this is stupid and it's like OK, have have any of these people like really, I you know I wish it was just like just like a dedicated ENS guy
Yeah anyways, I mean appreciate you presenting the thing. I'm just saying like if there's a bullish use case and and and you're bullish on it, then you should be able to articulate that as well. Yeah, this is. I'm not like I'm not like throwing shade at you about that. I'm just saying like I don't like I own multiple dot E or multiple ENS domains and we try and get it for our company. And it's like it's just a best practice at this point in time. I think we're still just waiting to see that deve
Yeah, I I but regardless yeah. I mean I appreciate the and real quick real quick like on the subject. You said you you want there to be a dedicated EMS guy. I actually want to use this opportunity. I know we don't have our full audience here, but there's enough people in the audience to to listen to this. This is the perfect perfect time for there to be a distinction. There would never be a dedicated guy for any project, right? There's not going to be a dedicated yuga labs.
Guy right? Because this show even though it's on discord today, we talk about the stories and the market. ENS is not a story in the market right now. We know what ENS is. ENS is the same thing as buying a hope.com michael.com, buying a Twitter username that is flat. No, it is, and I understand that there's technological capability, but at the fundamental level, when you buy an EMS domain, you are buying PO dot. You're buying something. dot E. An emoji dot eat. That's what you're buying. You're e
I understand that there's technological innovation that comes with it that's paired with Ethereum. I'm not questioning that, right? But that's what it is and it's not a main story in the space. If all of a sudden the volume on ENS goes crazy and there's a new trend on ENS, then that's worth discussing. But we've had people that basically, yeah, we've had people that wanted to come on the show and there was at least one person that actually tried to, to tag on to signals weather report, to provid
Are you? I can't tell if you're talking because I like your audio and everything. I'm just trying to point something out. Are you talking about? Like are you asking questions about your audio neck or you like directing those questions that may?
No. OK. Anyway, so yeah, So what I was saying is the show is not about, you know, discussing an individual persons investment portfolio, right. It's discussing, you know, the stories of the space. If someone has a bullish case on something, then they can totally come and present something. But it's not that there would never be a dedicated person that is there to talk about 10 KTF every single day, for example. Right. So that's actually that's actually my point is that it's not a dedicated PFP p
Well, we're we're wrapping anyway. We're overtime so, ladies and gentlemen, this was our discord show because Twitter rugged us. Yeah, so thanks for joining everybody. I'm I'm definitely pumped about the turn out of people that were on the show today, here in discord. And if you haven't joined our like discord, you know the token, gated discord for holding a portal. Like if you're here as a public person and you don't own a portal, you definitely should get one not only for the discord.