Good morning ladies and gentlemen. It's Monday. This is the NFC morning show. We do this show Monday through Friday each and every week from 9:00 AM to 10:30 AM Eastern Time. The NFT market might be cooling off a little bit, but the fire of all of the participants on this stage can't cool. That song was by Alba Rossi, an Italian reggae artist that moved down to Kingston, Jamaica because his level of passion.
Was too strong. He had to go there. He had to create in the actual environment where the music came from. Take that passion and do with it what you will. Ladies and gentlemen. This show is all about NFT trading. We talk about what's going up. We talk about the fact that everything is going down. That's what's happening right now, and all of the stories of the NFT market. If you're interested in discussing something, come on stage and talk about it. No self promotion. The show is not an ad, but w
Hear from new voices and hear their thoughts on the NFT market of what's going on. I'm PO here with my co-host nifty Nick Signal King kicks and easy to bodega and we have some of the most badass speakers on stage two like Spencer Gordon, San node, Ben Jammin, Jesse Halfin, quad man. We're stacked today. We got Bouvet on stage for the first time in a long time. It's about to be a great show, so before I go any further I do have to just ask nifty Nick what's going on.
I really it took me. It almost started interrupt Nick, but I was like if if I smoke a joint and listen to this all day, I might forget that I'm like down $100,000. The past six months it made me feel so good. So thank you PO.
Similar music and I'm I'm completely blank blanking on the name right now off to figure out who that was, but I used to go to there when they play and it was just a bunch of white Rastafarian dudes hanging out in Arlington, VA. I mean they were good so I guess that's all that matters, but I I like that this guy fully moved down to Jamaica. Is he still there today?
Yeah man, he's lived there a long time. I mean look at the end of the day, man, sometimes you just feel in the vibe and when you're really, really, really feeling the vibe and you just feel like it's it's calling you. You just have to. You have to go, you know, head on. You have to take it on. So I just respect that level of passion. You know, I've looked up like his concert videos before. They're absolute jams. He's just take that kind of passion and apply it to the stuff that I'm doing. You kn
So next, so your your you exited the Ethan Bitcoin setups and on the NFT side are you looking at buying anything? Or are you trying to? I feel like trading crypto is actually just like kind of a stronger gut.
You're you're you're interviewing me like I'm an actual trader like let's let's pause for a moment and just recognize the fact that I'm just gambling like that. So there's a there's a. There's two separate sets here. No, I don't have anything that I'm doing right now. On the NFT side, what did you buy it aliens? Is that what you did? You know you were like I don't mean U PO but you know to the people out there that were like yo aliens. It's the future. This is the next blue chip. This is taking
Board apes look. You got two things going for it. One, they have no way of making money, so that's one of my favorite parts of this business is that there's no potential of them generating revenue. The second part that's favored about this NFT project is that it's CCO, which means that people can just copy this shitty art. And so those are the two things that we're going for it, and for whatever reason, it's now down to .11 after a pump near 1 ETH. I mean that.
Yeah, so to to go all the way up to like near 1 ETH and then just fully capitulate in like a one week period what what it what trade am I going to make in this market? I I don't know, it's just difficult. All that I would be looking for at this point.
Well, look, I mean, so back to the aliens thing. Eight aliens, I should say real quick. This was one that Nick and I raised eyebrows at on the YouTube show for 30 of last week. Like, you gotta understand, right? When you're doing a YouTube show almost every single day, and the whole point of the YouTube show is to talk about NFT projects in an environment like this, where not that much new stuff is hitting the market, not that many stories are happening. There's only so much stuff that you're ta
We we talked about 8 aliens, a lot and a lot of people were like really passionate about it and saying that we were like inappropriate in suggesting that the price was going to go down. What an outrageous thing to do to to say that an NFT project that has 10,000 supply 3100 unique owners right was going to go down in price. We've never seen something like that happen before, right? And I'm actually not on the same. I don't have the same opinion with Nick about like the art not being good or anyt
My thing was just there's 10,000 of these things. What is it? I don't care who the team is unless it's like a team that is like building. You know, if it's Alexis Ohanian like that's one thing, right? If it's like that level of professional like entrepreneur person from outside the space, maybe. But you know, deep in web two, and this is their big transition to the space, you know that type of narrative, that type of founder? Sure, I'm all in. Let's go.
Right like we saw, we saw what happens with Kevin Rose. Right now he's kind of, you know. He was almost on a pedestal and now people are kind of, you know, questioning whether he is as legit as they say that he is. But like for this particular project, I, like you, just have to understand the mathematics of how much volume it takes for 10,000 units to retain a high floor price. That is really, really difficult to do. And I would say that like anybody that watched 8 aliens, anybody that got wreck
You gotta everybody that bought above .11 is underwater on aliens, and there were plenty of guys above .11 maybe you you rolled the dice and you got a rare. The other thing that we said was when we looked at the one of ones which are all dope. By the way, gremlins got a one of 1, brinkman's got a one of one all the one on ones in the Aliens collection are super dope, but they're in this collection, right? And so I believe the standing offer was 10,000 U.S. dollars, whatever that equivalent is on
One of ones as soon as they dropped and I was like if you don't take that, you're out of your mind and and like a few people did take it. But plenty of people were still holding and it's like dude like you gotta take that that 10K offer right there because that's the only time you're actually going to get it. Those sell windows are so short in the NFT space and I've got plenty of lucky sales that I had just from listing stuff for like six months at a high price. And then some news event happens.
Frenzy that leads to like one of those big sales. That was the situation for those one of ones in the eight list project. And again, they're incredibly dope. The artwork is incredible, all the artists are fire, but that doesn't change that like the the market value of those things, it's not going to moon from here like you got to take that 10K. Go ahead and.
A lot of people that like I respect in terms of like traders I I almost wonder. I'm almost starting to wonder if if some of this stuff is is the symptom of these like freedom mint structures. As much as I you know, trashed on whitelist or allow lists during the bull market.
One of the things that they did do was at least like help ensure that you know a good portion of the NFT's was like going to people that were, you know, at least you know kind of bullish or invested in the project, and I think a lot of these free mint things like you know people don't want to talk about it, but I think a lot of them, even if they're meant one per wallet, they just get botted by multi wallets and.
I didn't see a bunch of people messaging us about aliens. I did for rare Pepe where people are saying this is like the future NFT and that's down to .6 because the guy made a Pepe once. I think these are like borderline racist looking like like ridiculous garbage like I don't know. So those are the ones where if like you're in it they look stupid. So I'm just saying straight up these are just dumb and.
No, I'm not buying it. I'm buying it at zero like I'm not or I'm not even buying it. Like you, you couldn't sell these to me because I think they're so dumb and those are the ones that I think are actually bad. Where people were messaging us about how this is the the future.
People like, why is it, why is the acronym for this racy? Like, it's almost like, you might as well just call it racist. Like, I don't understand. Like are they trying? Are they just like trying to pull the wool over our eyes and like mess with us? Board API club had some maybe like racist dog whistles as people were saying. But like, I don't feel like it's like a racist community. This one. It's just like looks like literally Google racist comics and and and like, this is it like rare Pepe show
Look at the Fort. This is just some bullshit I don't know. I'm I'm the only one that's gonna be bold enough to say this. But like literally Google these two things I'm just saying that's what this looks like.
The people people bought it at .01 and .02 and this was going to be their big one like it was going to go to three ETH and they were going to sell it at three ETH and so there's so mad. If you say anything bad about it because they're like no, no.
Dude, if I bought something at .01 and it's at .6, I'm not mad about a 30X what. What kind of crack are you guys smoking? That's like a map of winning a bear market. Dude, imagine if you had bought one each of those. That's 30 E.
This was supposed to be those peoples like actual board API club like it was supposed to be like. Like I'm gonna pay my mortgage for four months because of this thing that I bought for .01 and they get so pissed if you say anything bad about it. Jesse has his hand raised then we got to actually get like into the show and get to the weather report and all that.
Yeah, he's good at. Obviously he was obviously he was in on the project so he was, but he's not filling it and he if you got in in the discord, of course I didn't because I retired from NFT's and I can't get anything right, but he was there when it was point 1.15 point two saying I got 8 but you know, I think it's a good team. So the people that made money a lot of the people that made money were in our discord and and he has really good like he just takes really. He has a good perspective. He t
But I just want to give an extra shout out to him. It's interesting what you said people about Web two though I wonder if the next phase of this is gonna be like remember it used to be like oh people coming from Web 2 they're definitely gonna fail. I wonder if the next stage is like oh we don't want some web 3D pens that have never done anything before. And like Web 2 is what where the value is, that would be very interesting.
It's not so much web two, it's just people that aren't like assholes that are going to actually build something. I think honestly, the the most bullish thing that you could see for an NFT project, if you're looking to invest long term at this point, if it's if it's like on the startup side, right? Not the fine art side, but the startup side is that they take legit venture capital money and the reason being is because then they would get sued by their investors if they rug pull. That's like somet
Over 99% we've been talking about this and it's it just becomes more clear by the day. Like look at all these projects that came out in January and February that people were quote UN quote, bullish on and they all just turned out to be rug pulls in the sense that the founders took the majority of the money. Like, literally like, and I don't mean when I say took the money. I mean, like they literally bonus themselves out the money and they have like massive taxable events and bought big purchase.
Like if I'm if I'm going to make a prediction for the NFT space and this is a long term prediction and this is in no particular order, it would be what we just talked about which is like quality creators that come in. You know, preferably with venture capital funding so that somebody's holding them accountable no matter what, right? So that's #1 #2 would be a proper fine art bull run and full adoption by the traditional art world. We got like the sort of introduction with the people sale and the
Will run on one of one art and an artist in the FT space. But you have to keep in mind that that that like that crowd. It's really gonna take time to get them to like fully come around, but of inevitably they will come around just like you know, people came around to the Internet just takes a long time, right. And then the third thing is like proper integration with gaming, right, where you'll see like people that are speculators learn the INS and outs of a game that people are playing. Maybe th
Try to find value in the assets that are in the game or try to figure out ways to maneuver in the game to be able to accumulate assets that have value. I think that all those things are are like foregone conclusions that are going to happen again in no particular order with no timeline like that is not a next six months type of thing. And then on the collectible side I think it's just going to be owned by people that are qualified creators. When you look at the bull run on collectibles, assets i
Truly, truly, truly, truly qualified creators are like Board API club, right? It's like yoga labs and then sure like 10K TF, but like you know, Gio series on the founding team, right? So he already had a background coming into it and and people's on that team and blah blah blah. But when you look at like NFT native creators, so to speak, people that came up through the NFT space, it's definitely a harder to find people that are qualified in that group. I will, we're getting the weather.
You know what I'm saying? See signals back up. You know what? I'm stunned by that during this bear market we haven't had at least one attempt at like a Wolfgang creeps because at the very least, that's a game of chicken between degens, and even that hasn't hasn't been up. But anyway, I'm getting tornado warning bells over here in Ann Arbor. So I need to hear the weather report.
No, that's not true. It's the good cause. The island I'm on, like my bars, have gone down to like 2 so if you guys lose me, I'm sorry but I'll get into this weather report so everyone can hear what's going on. I'm actually going to recap what happened on Friday because there was some good news that came out on Thursday night, which we didn't hear on Friday because of this. Because of Twitter. Space is rugging, so I'm going to get into that as well. So morning folks today is Monday the 15th of Au
So we're now back down to the mid teens where previously we were at 20 sort of 25 million onto the leaders. We have eight set 79 mutants at 13.7 and punks at 69, so we're seeing this pullback across the market apes now under 80 mutants and in this sort of 13 E range which we haven't seen in a while, but punks still holding strong moon birds 12.9 doodles 7.26 and clonex at 7. So we've still got some choppiness here happening for doodles in the 70th range.
And cronex I saw it sub seven but it's come back overnight. Other deed is leading the open sea ranks been awhile since we've seen this at #1 and it's trading sub 2 E with supply of another 100,000 coming pretty soon that floor wall. We'll see if it can hold 1.18 Adidas. This was on Thursday. We just actually discussed this on the show on Tuesday at the end of last week somebody said what do you think about Adidas and they funny and love tweeted that ITM phase two holders to keep their notificati
That floor was trading around .5 point. Six shot up to .9 and is now back down to .5. Another sports apparel giant is Puma now. You also tweeted funny enough within like 24 hours of Adidas. They have upcoming snapshot for the Puma cap box collab. That's all we know. But that collection was sitting pretty around the point 15 ETH range. After the sweeps came in, went up to .24 but now it's back down again and blast from the past pudgy Penguins that went to #8
on Friday in the Open sea ranks. After they announced that Pudgy toys line up is now going to be licensed directly from the community, so holders of this special pudgies they're now going to become real toys. That floor went up to almost three and is now back down to 2.35 onto crypto. We have BTC at 24K and E at 1883 BTC rose above 25 K for the first time since mid June, and ETH has risen 18% in the last seven days of breaking that 2K barrier.
Over the weekend. So overall crypto is doing well, but the open sea volume is down in the mid teens and with each on the rise, we're seeing several projects retracing pretty hard. This would be an interesting week to watch, as well as the rest of August. So for now, the 24 hour forecast is some thundery skies. Back to you guys.
Fantastic weather report as usual signal. Just to add one or two things from the nifty Daily Digest which is also written by signal. It is our newsletter that we send out five days a week. You can subscribe at the nifty.com and you definitely should. Axie Infinity has actually removed the token rewards from its classic game mode in an effort to attract its users to a new game mode called Axie Infinity Origin. So I mean I'll, I'll ask kicks what this means, but it sounds to me like maybe.
Play to earn is no play to not earn anymore. It ain't thing anymore. We'll see. And then we got one arrest with from a Tornado cash developer over an Amsterdam for his involvement in the platform. So I guess they are cracking down on Tornado cash. Nifty nick. You raise your hand what's going on?
Well, two things they're arresting someone for developing code which was used by people, which there was a lot of people just saying like might as well. Rest everyone that runs the bank. The bank banks plural because the banking system is used. If you're not aware of that, the other thing I was going to say is.
Man, that's a that's a great name though. Man I love it. Yeah, it's interesting. I think that some of these blue chip maybe not so much board of Yacht Club because it's, you know it's up so high but like clonex doodles moon birds, maybe even other deeds.
It seems like we're we. We kind of saw some bottoming out over the weekend and I did notice some people like looking to make some buys at these levels. Like Lupi bought like 7 clone axes when they went down to like 6.5. Umm. And there is a potential chance that like a therium is like near the top of its range right? Like a lot of saying like 2 maybe high end of this range, but there is a scenario where we get maybe a slow bleed down and eat or just a.
Couple weeks of like consolidation and death and I wouldn't be surprised maybe if this is a little bit of a a local bottom for the blue chips in terms of their pricing. So very interested to see how that plays out.
But you know the the D Gen and me was definitely tempted to take some swings over this weekend. I was thinking about putting some collection offers out for like clone X and moon birds. But yeah, we may be seeing a little bit of bottoming out in in the blue chips just based on my gut feeling and and some of the.
OK. And I mean I'd love to know nodes opinion on that because node is not only someone that watches the blue chips, but he owns basically all of them or a lot of them know what are your thoughts on that?
Yeah, I I did just that actually. I put in, I put in a couple offers on a couple different clone axes. I put in a couple offers on some other art blocks, pieces that I really liked. Kind of a little bit low balled and nothing's been accepted so far, I think, I think, yeah, that that was a good local bottom. So I I also put out an interesting poll over the over the weekend of like it's my hunch that one of these, you know, quote UN quote blue chips, you know, you take moon birds, clone X doodles.
And Azuki, I think one of these four, like, they all, they all seem pretty solid. But I, I mean, I think it wouldn't surprise me if one of them actually just fully dies, right? And so I put out a I put out a poll to see which one people thought would survive out of those four or actually which one they thought would die. And I think Azuki and moon birds were kind of neck and neck and the the people, the, the collection of the got the fewest responses was clonex, meaning that they were most bulli
Yeah, let the technicals to leave the technical to Ben and and Nick, but you know, I retired from NFT, so I'm just a TNA guy now so I'll give you my technical non analysis which is people been saying this is OK. We're going back to 1200 for a couple months or like a month now. Maybe yeah, we might retest 1200 even 3 digit. I have been bullish. I think on the show publicly and generally that it's like.
And this is the year of East. Last year was the year of FT that, you know, Bitcoin is for boomers, and this is the year of it's not going to be that way forever. But I think it's in a weird way. The technicals have not totally captured that. It's just people like ETH right now. People like vitalic they love vitalic. Like, well, there's looking contemplatively in a river or like pretending to eat ash from like a porn star. Like, people just love this simpy, vampire skinny weirdo genius. And I jus
It's value, even if it's a rational. Like no, no. I definitely think it's going to 10,000, but I think you know the idea that the technical say it might retest the 1200 or whatever you guys say. Like I just think people like ETH this year and I think that maybe not always captured.
Yeah, look, there's a case to be made for sure. There's also a lot of uncertainty around the merge and its impact on price, so that's going to be fascinating. Ben, you have your hand raised. What's on your mind?
Yeah, Jim PO, there's there's a few things in general that I'm I'm starting to do. Or, you know, start changing my tactics a little bit just to comment on E in general. And the first thing I think that we're we're definitely seeing a little bit of an NFT bleed right now. After you know, a week or two of of people getting excited for prices rising, but I believe what is happening in this current moment is with the merge essentially being scheduled.
Or almost exactly. I think exactly a month from today people are looking to stack a little bit more Ethan general thinking that the the price is going to climb into that merge. So I I wouldn't be surprised if we still see a little bit more even of a bleed up until then.
I'm also starting to explore a little bit more I want. I wanna look at other chains. Obviously I love eat, but I've been talking a little bit more about exploring soul. I think that's interesting on Binance. Is opening up an NFT marketplace that they're putting some some visibility into, so I think it's going to be interesting to check out other chains as well as projects that are potentially going Omni chain and having exposure to more than one chain at a time, which which is really interesting
The the other thing would be I'm I'm looking to get you know more into art again. Last year I was buying a lot more art than I have been this year. In 2022, think that I want to be a little more of a focus on, you know, the the art and the creators and the people that are trying to make it, but maybe haven't had as much visibility as they deserve compared to, you know, aping into all these really cheap NFT D Gen Mints. Trying to flip and just everything.
10 If it's gonna go to zero, I'd rather, you know, support an artist or creator that's you know, really trying to grow and and maybe not getting the exposure they need so that that's my plan for probably the rest of the month or or leading up to the merge.
Yeah, it's it's hard to identify which artists are actually gonna be favored by the market and and you know, see the most appreciation. But if you do, you know strike gold. With that, you'll get the you'll get rewarded. Spencer has his hand raised, and then I do want to talk about like what node was talking about, which is like, you know, those four projects for example, like clonex, doodles, moon birds. I feel like those are an interesting set of projects that you can kind of make. An example o
Well, actually this was exactly that like I think the thing that I've been thinking about a lot recently is what happens post merge, and I think I've been to this on the show before that I'm like giga bearish on ETH post merge like I think that there's going to be a lot of excitement there already is, and so I agree. I think we might see a strong pump into the merge, but.
I I don't really see much fundamentally in the short run changing about due to the merge actually happening, except if there's some amount of the market that thinks the merge won't actually happen, and therefore like there's some like certainty bias towards like it actually happening, but I think what I'm looking to do is I think you will continue to see NFT, especially blue chips bleed like everyone was saying, like, oh, I've been and I'm so surprised how well and that he's had held up. And I t
Capitulation, yet in the NFT market and the way I see it, we're in for either. It's going to rip up ahead of the merge, which, as we've seen this weekend, like causes people to to try to like, sell their NFT to try and catch the E Rep. Or it's going to go down substantially. And then in that case, I think that we will like not see people repricing their NFT's like, I think like the floors will go down and U.S. dollar value pretty substantially. But like either if he goes up or if he goes down I
I'm looking to enter positions on dumps. I just I think that we will see it a lot. Something that looks a lot closer to capitulation in the coming like three weeks than what we've seen this weekend and this weekend was maybe a taste of what that looks like. Where clones went to 6.5 because I think even six at one point, because, like literally, there just wasn't people buying them at any price, and I think the more the narrative is going to be on the merge etcetera, the more true that's going to
Well, Spencer, slide into my DMS, because I'm starting a group, we're gonna create a narrative around the proof of work etherium, NFT. So after after proof of stake comes out, we're going to create a narrative that proof of work NFT's are really the true OG NFT, and we're going to accumulate a bunch of art blocks. Yeah, the historic exactly. We're going to accumulate a bunch of punks, art blocks and board apes and just make millions on that narrative.
Yeah, that that's gonna now you're manifesting that kicks that's gonna happen but yeah I thought I mean I don't know if there's gonna be more capitulation it's hard to see much more than sad I've I'm down so many hundreds of thousands of dollars the past few months that I cannot afford to lose that I have. I'm just LP and everything I'm just helping all my crypto with like Ethan, Ethan, Jason coins and at least I get to see.
Everything go up for a while, or at least you know my return. You know whatever my my gains, even if it's from $50.00 to like $58. I'm like great. That's more than I had before as opposed to losing. I would warn against all these influencers who are basically like this is the cycle he goes up, or you know, and then NFT's are down and then NFT are going to go back up. That's the next. That's what's coming next. It's like no there has not been enough historical.
NFT you know, data to, I think suggest anything I think I think what really has happened, I don't think it's necessarily a bad thing. I think for the first time people are repricing NFT's, adjusting for NFTS in USD with price of ETH changes. I think that's healthy and rational. I know Elizabeth and the discord and me, we all freak out when people talked about NAFTA and in USD and I think that's part of it. When, you know when you hear people say, Oh yeah, you spending $2000.00 on this PO, I thin
Yeah, I mean it's hard to tell what would make a big bull run on NFTS happen. I, you know, I laid out my thesis earlier about the three kind of areas that you can expect some sort of action on, but like back to what note said. So note I I love that you picked those four projects right. You picked moon birds, azuki doodles and clonex. I'm not surprised at all that Clonex was the number one project that was mentioned out of those four, because it's acquired by Nike, you know, like and it was acqui
A lot of money by Nike, so there's big time interest in Clonex succeeding and a lot a lot. A lot of resources behind clonex that are, you know, making efforts to guarantee that it doesn't go under. I was just putting in the discord, right? Because people got upset by my comment about how venture funding is like the only bullish thing at this point for quote UN quote NFT businesses, it's like is your. Is it an NFT project?
Or is it a Web 3 business? Because I'm I don't think I'm bullish on NFT projects at all, because every NFT project I can think of, the all it was, was the founders taking all the money and not doing anything. But I'm definitely bullish on web. Three businesses 1000% and clone XI mean it was acquired by Nike to basically be their web three arm. I think that you could probably make a case that moon birds is a Web 3 business as long as Kay Rose stays interested and and I think a lot of people have
I just don't think that people have done like basic research on their own about Kevin Rose. Like you, he was a partner at Google Ventures. Like do people know what Google Ventures is? It's not like a, you know, just run-of-the-mill VC firm, right? Like they they trash on Kevin Rose because when he created dig like 20 years ago.
He like was doing other projects because he was a young entrepreneur and he was like excited just. I mean like look at anything that FT space people will find anything to FUD and they'll like take it to the absolute moon. But like if you actually know who Kevin Rose is and how connected he is in the tech space and the the companies that he's invested in at the seed round that the people that he rubbed shoulders with to say that he's like like this like like ADD entrepreneur that can't stay focus
The King, the King Moonbird has spoken. So look, I wanna throw the quad. I wanna throw the web. Three DJ's, uh, another NFT podcast. Shout out to web three DJ's and we'll throw to you guys. But uh, but node, so you. I feel like have owned all of these projects at one point in time, right? You literally had all four.
To me it's it's one of the biggest wild cards, right? So I I actually looking back at my poll that I did on Twitter. Azuki was by far and away the one that everybody voted the most like. 60% of people voted that it was the most likely to fade into obscurity, which is interesting. Like I I I went through this phase like a month ago where I wanted to buy one again. Like, really bad. Their community is pretty like they. They seem quite loyal.
Yeah, well and you see you see like this. There's loyalty in like 1 regard where it's kind of weird where they're they're such that it's I mean these projects that are scams and that that they you know they never crack one egg and they think that they're, you know, going to be the next thing. I mean, it just feels like people that are loyal to Aida. You know, like to Cardano, I'm like, dude, I don't know what what you guys are thinking or doing. Clearly this collection has maintained a level of
It has me thinking the exact same way you did PO of saying man, if if we were. If if like a bull market was was soon upon us, I I'd scoop in Azuki for sure, but knowing that we've got like I think with the merge, it's just we've got volatility ahead and Earth does not like. I mean NFT's don't like when he does volatile. I'm trying to go back to like what's the safest play which is clonex and it's art. So those are. Those are the couple that I'm mostly looking at.
Got it well I'd feel a whole lot better about it if they did, because then there's some sort of power that's holding them accountable. You know what I mean? I don't know if I'm communicating this properly like I just feel like with these quote UN quote NFT projects right? Like this NFT project not like a Web 3 business. Like you know what I mean? Like the NFT projects just seem to have the founders literally buying like Lake houses. Literally. You know what I mean. I'm just saying like that's wh
Well, there's plenty of people that have taken money out, so that's OK if we're getting into the Lake house thing. I don't know if we're speaking about the same person, but there's people that received venture funding and then bought a lake house. So I've seen both. I've I've. I've seen both things. Both things play out. I also if if you speak to enough VC's that there's plenty of them that have stories of like just misuse of capital, which is a pretty common occurrence within the space where so
And a lot of those people get sued for, for you know, misappropriation of capital. But the bottom line is like that's still a common thing. Whether or not you have VC money or you don't have VC money. The bottom line is, there's a lot of people that end up just not operating with integrity.
Where they could do whatever they want. Now there's people that are also docs or fake docs. That's the one that we've seen recently. I I I hadn't been aware of the fake doxxing, but it's where, like they say their name, but you you just can't find the person online, so it's like is that really a docs like? I have no idea, but there's a bunch of people who have leveraged these strategies to take advantage of the market and operate without integrity. And I will say the entire system.
They've acquired teams they've like, they're building, but there are a lot of people that have exploited the situation market. Sorry, and I don't think it matters if they're that you called a NFT project Web 3 business whatever, either you're building a business or you aren't.
Yeah, I think we've gotten to that point in the market right where we you last year. It was totally fine to call them projects because I mean, let's be honest, they all were in 2021 and and then some of them graduated to the next level. But I think now we're maturing hopefully, and that's you know that. I think that's a good indication if you're if you've got guys that are actually trying to raise money or take it seriously for sure.
Yeah. So I've kind of mixed feelings on this because I like one thing that it should be really clear is like just cause of VC invested doesn't mean it's a rug. And VC's really don't have much recourse, especially at this size, to like if if they're if someone does rug or spend the money on the lambos, like it's actively pretty hard to like sue and like, then what are you trying to get? Like it's, I mean you can because in theory, but realistically that doesn't happen very much. And I would also
New collections and you feel like you're treated a lot more like a consumer versus a collector. And like I think that the biggest test of this to me has always been like doodles to me. Doesn't feel that like.
Like Doodles is is obviously venture backed right? But I don't know that the venture backing felt that bullish to me because now, like you, your incentive is the project founder is like you need to hit revenue because you're trying to go public or get acquired right? And so how do you get revenue? You get revenue by having people buy your stuff, which means you have to sell things which means you have to increase supply right? Especially when there's not that much secondary volume. And so yeah,
Venture like happened and then they did the Aquin launch and the Aquin launch has been synergistic to other portfolio companies. Andreessen, the leader of their venture around like they're becomes all these other incentives. And you know you can take a company public with a lot of revenue even if the holders aren't happy. You can't take a public company public if the holders have made a lot of money. If the company itself hasn't seen the same profit. So I just think I caution the narrative that
Apples are very well connected like like they do give more resources and it is a way to make sure like like someone has a treasury and like likely they're doing some sort of diligence, although not always like especially in the last year there was a lot of like non diligence done. So it's a little bit more complicated story here I would think.
There's one thing that uh kicks brought up kicks you, you should actually say it, but I think it was a counterposition about mismanagement. Conversely, VC's, sorry, I have something stuck in my throat. I'm going to have to step away for a second, but they've been dumping on retail with tokens so it integrity is a is a spectrum.
Trees aren't like you know, like a you know Saints, there's good VC there's bad DC, but I mean it's it's like a meme in the token space that like VC's use retail as exit liquidity on. You know like that's half of the you know Solana DEFI ecosystem. But I completely agree with what PO saying. Which is that if VC's invest in a NFT company, especially good VC's it it means that you can take some like rug risk or like lack of like.
You know seriousness risk off the table because they're doing vetting on their own and you can be like, OK, like the the clonex is a perfect example like they were acquired by Nike. Like they went through some serious due diligence, Nike is making sure that this is a legit operating team. So that takes some of the you know research that you have to do off at the table. So I completely agree with what PO is saying and and part of the problem. Also PO I think is that there's so much.
About hiring, you know, their runway, what they're trying to accomplish. So I, I, I completely agree with what you know PO is saying is that when you get that validation, it takes some of the risk of of, you know, people just abandoning a project off of the table.
Yeah, and keep in mind I don't want everyone to just completely agree with me, right like I wanna hear different perspectives. I wanna be proven wrong. I'm just sharing, you know my you know single opinion like one guy's opinion and I just am sick of NFT projects just taking 80% of the primary sale funds. I mean the projects won't even like hire people. They won't even like hire someone to like run the Twitter or something they like won't deploy any capital towards the business, they're just lik
It's also a level of patience too, like if you're hiring 4050 people, you're building something that's gonna take a while. It's not going to be an overnight release as well, so I think people's impatience for those type of teams and companies is probably at a low at this point.
Why don't you have a fully functioning metaverse in three months? Dude, I'm over here on my NFD, but you know what else? Do I gotta wait for? Can you like type the code into the computer faster? Like what's going on?
Yeah, I agree kicks, and that's actually why like I think people when people are shedding on yoga for outsourcing their metaverse to someone who is already building it. Like I think that was a good move, especially considering the the time that things are actually going to take. And so yeah, I agree.
Yeah, and do you and you and Ben do you want Hugo Labs like creating their own Metaverse infrastructure team? You know what I mean? That's like pretty complex cloud infrastructure stuff. Way above my pay grade. I I like seeing companies that know their limitations and when to hire more competent people. So I'm a huge fan of that as well, but.
Dude, I don't even want them making their own merch like I'm completely fine with them being professional outsourcers like if that's what they do and they're able to bring in people more talented themselves and manage it in a way that makes people happy. Like I'm fine with that, I'd rather people know their strengths. And, you know, delegate the rest.
Yeah, like you're a Web 3 business, you're not literally a clothing line. You know what I mean? Like you're not literally in the fashion industry, so I totally agree with them there quave been waiting patiently. What's going on?
Well, First off, happy Monday. Pretty pretty jazzed to be back in the NFT space after the weekend. But yeah, I I think here. Here's my biggest thing that has happened to the FT space that that I think of affects all this is you had all these absolute shit projects that we've been talking about last year. That one of the ways they realized that they could extract the most amount of money was by doing things quickly, right? A secondary drop a month after their original.
Drop a merge, drop that they could sell, merge other things that they could roll out low effort, but like they could just extract more money out of the ecosystem. So that got the NFT space into thinking that everything has to happen right here, right now, as fast as possible when the the companies that are actually building need longer time because they're actually building something of some substance to contribute to the ecosystem and bring value to their holders. So because these terrible proj
As quickly as possible because they needed to keep up the the hype cycle to get their secondaries you know to to keep churning to just extract as much money as possible, has completely tainted the NFT spaces time horizon on how quickly things should and can happen.
Yeah, I mean, you're absolutely right, right? Because like, let's say a project that had a 10,000 piece profile picture collection said right now today that they're going to drop a 20,000 piece expansion like we've seen so many times. The original example would be Mutant API club, but obviously that particular one turned out well because it's the you know, the Grail entity of the NFT space. But like you know, you can put. I don't even want to name names, we point to so many other ones that did t
From the original collection, for in a lot of cases, a high price point, and it just wasn't. You know it didn't work out the best, so we got web. Three DJ's on stage a, 30 minute NFT podcast. I don't believe you guys have have spoken under this moniker on the show before. What's going on?
No, this is AKA Hofstra. What's going on? I just switched over, no, I'm glad you guys are finally having these like difficult conversations because I feel like so long it was just wag me, unrealistic business bullshit in this space and basically what you're seeing is 2021 a little bit into 2022 is just an anomaly year. It was one of those things that will never happen again and the valuations are unrealistic for a number of reasons, but like any other business you know.
Once you have competition, usually the price goes down and the product gets better over a longer period of time. In the beginning, businesses can charge a lot of money. If you have something that's new that not a lot of people have, but now you've got multiple chains. You've got multiple projects, and people are looking at it like what am I spending my money on? So secondary? These projects that haven't figured out how to create revenue will not be able to get funding period. And if I bought a p
Yeah, like I think that's a very sober way to look at it. I wanna throw the easy in a minute to talk about like what's going on on Solana because I tweeted about it yesterday. This like if I got all of the 2021. I guess we could call them aetherium and FT influencers. I've said this to Nick before. It's weird to me to do this whole like oh he's an Ethan influencer because like the people that came in in 2021 they were just like NFT people, right? They? They just thought like NFT's then when Sala
And the specifically the NFT side of Solana, you saw this thing where it's like people were like, Nah, Nah, I'm just in the Solana and FT. I'm not, I'm not like an earth person, you know what I mean? But anyway, the the ETH NFT people, suddenly we're having a conversation about royalties. That's a lot about having like two months ago and I pointed that out that like, yeah, we're, we're late to this and I just feel like a lot of the more interesting action in the NFT market right now is happening
Excited about and it's not a bullshit like cult situation where it's like actually a scam. You know what I mean? And so I wanna get to easy in a minute to to talk about that. I brought Bouvet on stage and Bouvet has been closely monitoring the etherium technicals. I'm also trying to get Giles on stage who's from our discord that's a digital asset analyst, but Twitter has rugged him five times throughout the show, so Giles if you want to keep trying you can keep trying but Twitter's rugged you li
Whoa, whoa, whoa I I don't need I don't need someone else to take a counter position here. You know I don't need the market to go up because I sold which is what has been doing. I you know, I've had enough of this.
OK, pull up your ease grass and I think Nick did a good thing for the short term because now we're checking the last year's 2021 February highs and that's what it retested on. The graph with the light blue rectangle and it's going to be a short term correction if you could. If you see last year's 2021 February, April and May three times it has it had the level of 1745, so we're going to see a retest.
To about 1700 thirty 2745, and at that moment we're gonna have to see whether it's going to break that down or up, whether the daily or monthly candle closes above that. And if, just like Jesse said, there's a a big news on the merge in September, then hopefully it breaks this light blue level that we have. And this will be the cause that'll can cause it to go to the 2.4 and 2.5.
Days, but the the short term seems like it's correcting, but overall it made like a higher. If you Google it on Dow theory, that's actually a right now a positive trend trend. So after the correction we can still see a pull up to a bullet on, so that's what we're seeing on the grass here.
Well, there you go. You got the the graph pinned to the top, so all of the, UM, all of the levels are just laid out there. I guess we're gonna have to see whether Nick's all of a sudden I'm just framing the technicals like did Nick sell at the right time, or was it the wrong time? It's probably the right time. Let's be real. If you if you wait long enough, Kayla, you have your hand raised, then I'm gonna throw it. Easy to talk about what's going on on Solana a little bit because I think it's wor
Hey all, thanks so much for the for the show. I'm really big fan. Have been following for a while. Yeah I want to go back to the conversation around it's it's kind of nice that we're finally having this conversation around, you know, venture capital and being bullish on teams that have VC funding. The conversation that just kind of popped up. You mentioned PO that the Solano folks have been talking about this more, but the conversation around royalties and just like overall business models.
I think my big question is is like what are going to be the business models and I think obviously that's the point, and that's what everyone's trying to figure out. But what are the business models that are going to survive? I think I think everyone at this point recognizes that like secondary royalties, I think most people are in agreement that they support secondary royalties.
But I think the reason why the question perhaps part of the reason why that question is coming up in the 1st place is you know people aren't seeing the gains. So I think that we still have like a a layer of just the overall NFT ecosystem and community that just has like really unhealthy expectations. Most businesses don't increase 1000 X in 12 months. That's just not how things work out.
But with that all being said, it is important for us I think start thinking about, OK, what are the business models in addition to those royalties that are going to survive long term. And then also thinking about with BC's, I agree that I, I'm personally, I don't personally feel very comfortable with a lot of VC money entering the space. I mean I think it's necessary to get through.
You know, we're we're kind of at the first stage of like the next four year cycle with for Bitcoin, so we're not going to see it, you know Moon again for a little bit of time, but so it's going to be people need a lot of runway to continue building in this current market. But I think like what I'm excited to see are just like really innovative bootstrapped companies that are just really talented at like delivering.
Products to the marketplace that are profitable and can run profitable companies that don't require VC. So I'm excited to see more of those and if you guys have know any projects that are doing that, I'd love to learn about them.
What we're Speaking of that and Speaking of what Caleb brought up, like what Ben and Kayla just brought up, Caleb brought up Bitcoin. Ben brought up altcoins, it. It's almost like at the beginning these things because of the because of the technology, right? It just attracts certain types of people. And then it takes time for the market to kind of smarten up. So if you were early Bitcoin and you got scammed by somebody and trust me there were you have to think that there were just as many scams
Raise or got you to send them Bitcoin and didn't accept anything in return. And then let's say you had all your Bitcoin on Mount Gox and Mount Gox got hacked. You'd probably feel pretty damn rough, right? Then you look at the 2017 IC O boom and you see that basically you know very very few of those things actually turned out to not be scams like it. It pretty much was all scams. It's kind of the same thing, so it just has to do with like the power of the technology and the way that people are ab
An audience or from a collective from a community in such a short period of time with such ease, it's never been easier to steal millions of dollars than hacking the Ronin Bridge, for example. I mean, obviously, I'm not saying that I could hack the Roman Bridge, but it's it's just not. It's easier to steal $600 million that way than any other way, right? And it's the same thing as like getting somebody's seed phrase and stealing $10,000 from them is just easier than robbing a bank or doing somet
When I bring up the like, when I say like, I want venture capitalism on a project, it's purely for accountability. It really is just for accountability. Because when you think about it, when someone like, I mean, look, I hate to drag this project and drag this person, but like the the news came out that Zachbot had had like two or three rug pulls under his belt beforehand.
No, no, no, I I'll. I'll let you, I'll let you handle that buddy. You're doing a great job but real quick like so you know the the Azuki story was that Vagabond had three or four rug pulls under his belt, or whatever you want to call them unattended projects, projects where he raised primary sale revenue to the tune of 500K plus on each one and then didn't follow through on actually running a business, right? It's the story that we've heard in the FT space again and again and again in that proce
And all of that built up to like the big climax of doing the Azuki primary sale at 1 etherium and making just so much money right like 10s of millions of dollars. It's staggering how much money money it's it's, you know, to like Spencer's always hold me accountable to to startup valuations and he should. I would say like 25 million in funding, 30 million in funding. It's like a Series A series B level funding for a startup and and it just happens like that.
It's like development of some art creation of a discord creation of a website. It's never been easier to do something like that, so that's the reason I kind of bring that stuff up is really just the accountability side. And if I'm being, if we're being hard on the NFT space and saying there's nothing to get excited about, it's just the natural. It's the natural trajectory of the space. And the technology is so powerful and so necessary that nothing anyone says on this stage has any effect on tha
Bitcoin is dead bitcoins bullshit. It just does not matter what that person said because the technology is bigger than any individual person or nation for that matter. That is just gonna. It's just gonna run. Run its course just like the Internet did. So we got more hands raised. I I got to get to easy at some point, but no, no go ahead.
Yes, sorry I uh, you brought up Vagabond. It made me think a little bit about some of these other projects, like even even Jimmy Jimmy dot E that you know he created avatars and then what happened like I don't know as he's still trying to deliver value to that. Maybe one of the apes can speak to it, but it's like what's the difference between a rug pull and and somebody not delivering? But I I wanted to also just mention that it does feel like we're we're at this point in time where the NFT mark
Yeah, it's it's like it's a perfect. There's a perfect time to do it right? And you know Kobe, who I worship, you know it's like DC and Kobe. Kobe like came out, you know swinging and and we had some good little interaction. But he basically said you know, all all NFT's are. They're just all coins with with pictures attached to them. They are. That is, literally it, you know. And you know we all kind of got a little bit offended at that. And then Punk 6529 was like, yeah, they're all. They're al
The way that you said it, that's totally cool, you know. And anyway that was. That was fun. But anyway, this Thursday they are. There's like a bunch of guys I think who all's going on there? I can't remember. It's like two, yeah, yeah. And OSPF and Mando. They're all going to get on up only and chat with Kobe to try and defend NFT's where Kobe does still like them, but it the way that it came off was like, you know, kind of throwing us all under the bus and he's not necessarily wrong. That 99% o
And I find myself, you know, Speaking of Solana, I find myself thinking that way about Solana in particular right? And so now I'm turning into the old boomer. That's like ass allana's just alt coins, you know, with with pictures associated with them. So it's interesting to see that own behavior in myself.
Yeah, we're going to talk about that in a second real quick. Nick needs to be on that up only show. I'm offended right now that Nick is not a is not on that roster. I I'm probably more offended than Nick is, but anyway, OK, I mean.
do you see? Oh wow, that's that's spicy. That means DC's just like, Nah, I'm good on that. I'm good on that guy. Real quick. One last thing. On the royalty side, I would just say that everybody needs to because I see like this weird thing where it's like, you'll see artists be like, oh, we're against PFP's and then we'll see like collectibles, traders being like, oh, I don't fuck with art. It's like, guys, you realize that this space is bigger than all this shit. It would be like if if when the
And associating the Internet is like the e-mail thing. It's like, dude, it's so much bigger and like I don't get it when when blockchain technology NFC technology is used for like accounting and ticketing and like you know giving you a deed to a car, your house, are you gonna be tribalistic about that? It's like oh I don't do it. I don't use it to to get a deed to my house. It's like chill out. All this stuff's totally different and maybe the way the royalty model plays out is with like web. Thr
No royalty but fine art projects have a high royalty because that's just the way it shakes out. You know, in that documentary, me and Nick have talked about a lot. There's one example where one of the artists work was purchased like four or five years before for a much lower price, and then it sold for like 950 K and she's just kind of like OK because she doesn't get any of that money. That's what the NFT royalty system is designed to to fix. But it's not designed to give Vagabond an assload of
This conversation is awesome. You know when I when I think about and and when I think about this like I'm surprised we haven't had this earlier and I'm I'm glad this conversation has occurred like to me.
What was new to me is the fact that royalties weren't enforcing the smart contract. All honestly is was really new to me. I didn't realize that and to me like that's going to really open things up in a big way, but I think it's a good thing that projects need to step up their games now. I mean, we always knew that 95% of projects were gonna go to 0, right? I think this is just gonna accelerate that process.
And and to your point earlier, before Pio you were saying like the NFT market has been testing what works and what doesn't right over the last couple of years or year and a half or whatever the case may be and so now we're at a point where I think where projects need to start sharing more about their vision details, what they're building and also other you know, revenue streams because the fact that they were relying on these royalties to to survive, you know, doesn't make any sense. Like when I
Like to me royalties should be there for certain projects, like if it's a true art project, I get it right. Like that's a different model, but there's a lot of projects out there that are not art and and and effectively. You know, maybe their PFP is right? But other than that, it's really not an art project and I think they have to do more. They have to. They have to leverage and sure. And and if you think about their mint, that's kind of like an alternative source of funding for them, right? An
I think that once they have that moderate model, they need to think about how to start bringing value to to the Community and and and not rely on these royalties, because I think that was unhealthy. It just was for so many reasons that was mentioned already on the shore. So on the shows today. So I want to revisit that, but I don't know. I think it's awesome that we're having these conversations. I don't think there's a one-size-fits-all, but I think it's going to, you know, really push projects
Web 2 How you work. You know these brands needed to create this video and vision of what they're building, not hide in the dark and say you know something's coming. I think that'll be cool. I mean that's not a guarantee as well. I think you still have to look at the team and the founders, but I think more visibility of what they're doing and a plan to generate alternative sources of of revenue is going to be super important going forward. That's my two cents.
Yeah, like I'm kind of on the same page for the most part, weren't we flipping most of these like they are shit coins? I don't understand like maybe we completely missed what suddenly we like bought them. We made some money and or some people made money and we said suddenly yes we're fine art collectors who had the visionary like the vision that this is how much it was going to be worth. No one knew that board apes were going to be worth what they're worth like when they bought them at $1000 or
But there, but even before that there were some big ones and when G Money bought his eight for 130,000 people are like that's like, that's insane and that's that's frankly what made G money. G Money was that purchase like that's what kicked everything off and and his rise to success but so from his standpoint to make $130,000 bet you're saying, well it's not a shit coin that that's the position that you're that you're taking when you.
Like a shit coin is basically a crypto asset that you expect has no fundamental value and is eventually going to depreciate to zero, and the vast majority of NFT's I think fall within that category like that. You have a 90 plus percent chance that these the the NFT that you buy is going to zero just based on the distribution. I mean I was looking at last night. I ran a query in the database of how many NFT?
Basically, a lot of them are are not getting any action whatsoever. Then. Now let's take outside of the collection basis where all of the activities happening is within a small subset of the entire market.
Essentially have also seen their price go towards 0, including those that are quote UN quote legitimate projects where people are building. We had a sponsor last week as an example of that where where we're seeing those super Yetis or any of these others were the price just hasn't it like it is gone towards near 0 now they're actively building a business as an example, so to call them a shit coin would be probably the wrong thing.
Yeah, but but like and I would say that like you like pricing by itself is not the only indicator. I think the reality is that there are a lot of people in the IC O days where they just took the money and ran that was it. They didn't do anything. They also like if you look at how they were managing that capital. It was like they were constantly expensing for you know, first class international flights around the world because they needed to go on a business trip somewhere or whatever it was.
It's just I don't know like the the they're just living it up expense and everything and and just wasting the money and a lot of them just did that for an extended period of time. So it wasn't like complete fraud. They were still quote UN quote, running a business. But I just think a shit coin, by definition, is basically something that has no fundamental value and where there's not even like a business being built.
And to be fair, Kobe did call them alt coins. You know which most of them are garbage, so that's that's it. I think most of us would like, as long as it's more than that. Some most are that, but clearly there's more to it than that. For the otherwise, why are we all even here?
Something that's being missed in this conversation, and there's so much to talk about with it, but it's it's the standard of the token that's even being used. And in general, all coins are essentially the ERC 20s that the functionality is limited to being able to buy and sell or stake. Whereas when you have ERC 720 ones or 1155, there's a lot more you can do with them and they provide you ownership, unique tokenization, access to memberships, royalties and and all these kind of things that all c
Even with the royalty conversation mixed into this like there, there are standards for on chain royalties as well. People just have to implement them. There's a, there's an the IP on on Ethereum E IP2981 since 2020, that's an NFT royalty standard that people can use even backwards compatible with ERC 721. So I think it's all about like what can be done and not even necessarily what is being done and there's so many dreamers in this space and and people think about.
The possibilities that you know speculation is is well founded in many cases, but a lot of the times it's built primarily on hype. So I I think that this conversation there's a lot more detail to be heard, and I think Kobe and then we'll talk about it on there. But yeah, there's definitely comparisons, but it's about the functionality that you're able to do with the technology itself and what that will. What kind of innovation will stem from that, and what other standards will eventually be impl
Cool things people like you were saying real estate finance and and all these other you know non JPEG type situation. So I think the the conversation has been a little bit more convoluted and there there's so much more technical to be discussed outside of just a picture or not.
Yeah, so I just wanna like so I've heard a lot of people this weekend talk about like HIP 2981 which is the NFT royalty standard and and I think this is a really important thing there though that it like it's not. It's on chain like information about what the royalty should be. If you're collecting royalty, but it's not on chain enforceable royalty. It's a really important distinction. And like in that IP it says the royalty payment must be voluntary as the transfer mechanisms such as transfer i
Like this is a really important reason that it is totally impossible to ever have enforceable on chain like royalties for payments is because it's a way too easy to cheat, but there's a lot of types of transfers that aren't necessarily like sales. So like if I transfer from a hot wallet to a cold storage wallet like I shouldn't have to pay a royalty to do that right? And it's impossible to say, OK, that's a transaction where I'm just transferring versus I sent it to my friend and my friend in an
We have something that is a royalty standard mean that there's like metadata that you could load when you make a marketplace so that you don't have to go set it individually on every marketplace. That's what the standard is. The standard is not like true Unchained enforceable royalties though. Sorry, I just heard a lot of people misunderstand this nuance.
No, that's a great point. That's a great point. It's also up to the marketplace itself to to enforce that, and I believe looks rare and X2Y2 do. But open seat doesn't. So yeah, it's it's about them implementing it and almost importing it, but it still does work. It still is a standard, and again, it's you know these things are in their infancy as well. This was created in 2020, so if there was someone who wanted to build off of that, I'm sure there is functionality to do so. But yeah, with pseud
Accepting the creative royalties, I think that it's it's a misstatement to say that it's not possible, but it's also you know the the sentiment of the community and where they choose to spend their volume. Because there's always going to be ways to get around things, but you know, off the chain transactions and stuff like that is a lot different than you know, a marketplace. Being able to enforce the current standards.
Yeah, it's not. I mean people tweeted about it. It's not actually possible. You can just send like just basically OTC deals, but that's you know that's always gonna exist and existed in the traditional art market. So look easy. Is the the Sultan of Solana? He's the Solana, you know, celebrity and you know the biggest project that's in the NFT space right now in terms of like acceleration and growth. From what I can tell is D gots. And and like there's other stuff happening.
Yeah, maybe even a month to be honest. I mean, there's news and stuff happening every day. We're even getting like the pseudo swap and the LP is interesting, but we've had similar from like liquidity funding already on soul.
Uh, no, but there's a lot of iterations still going on, like I think the tech stuff is really interesting. The one thing I was like most hopeful for from Seoul is an actual improvement on like the game side aspect of it. Because we do see a lot of L twos taking.
Is going to take longer than expected. I think. Kick said it perfectly, like you can't make a great game in three months. But the other thing with it too is like there's just a lot of people trying new stuff on soul. Like the next big wave that's gonna happen and it's it is stemming from the gods and youths is like attribute stores to actually spend currency, whatever the underlying NFT is, and gets updates to your PFP, get updates to the FT, change the underlying metadata. And that's just like
You're totally right, and the fact that it's gaseous transactions and the fact that it's centralized is actually beneficial for like the kind of game side. And I'm not even talking about video games, just like the game of NFT's, like shuffling NFTS around and doing interesting stuff. You know all that look? I want to hear from node, then we're gonna wrap great show today. By the way, everybody, no go ahead.
Yeah, I just needed to throw out a couple announcements from the discord we were Speaking of Brinkman earlier. I'll be chatting with him about generative art today at noon Eastern and then on and then on Thursday.
Yeah, and then and then we got Thursday. There's, uh, with witters. They got a mastermind at at at the same time at noon on Tezos, so that'll be interesting as well. So just had to throw those two things out there.
Wow, node working overtime rocking with two extremely talented artists, you know, Brinkman, the artist behind nimbuzz, one of the OG R Blocks Collections Grail collection if you ask me and winners the artist behind the Five foot board ape behind Nick on canvas with the fine art frame, and obviously a bunch of other stuff. Look, ladies and gentlemen, that is the show for today.
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