All About Affordable NFTs
 

All About Affordable NFTs

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Welcome to the Triple-A NFT podcast - All About AFFORDABLE NFTs. A podcast that helps take people from 0 to sixty in the Nonfungible Token world without breaking the bank. Hosts Andrew aka Rantum and George from Mostly Stable on ZED, help navigate new NFT projects, interview expert guests and explore NFT trends. Whether you’re on your first or fiftieth NFT, Triple-A NFT will have something for you.

Episodes

Why NFTs need alt-layer networks | Project: The Meta Key 4

Friday May 06, 2022

Friday May 06, 2022

All About AFFORDABLE NFTs, hosts Andrew aka Rantum and George from Mostly Stable on ZED Run, help navigate new projects, interview expert guests and explore NFT trends. Whether you’re on your first or fiftieth NFT, we’re going to have something for you. Keep track of all recommended affordable projects with our ‘keep us honest’ spreadsheet. 

And a quick note that we are not financial advisors and nothing in this podcast should be taken as investment advice.

 

Theme: Why NFTs need alt-layer networks

 

 

Rough Transcript

 

[00:00:00] Today on all about affordable NFTs, we are talking about why NFTs need all to layer one networks, I guess, alt layer networks, not even layer one networks as part of the larger ecosystem as Ethereum becomes a bit pricey which may be a nice lead into some of our news items. How's it going, Andrew?

[00:00:22] Good. Good. Yeah, I would definitely be hesitant to say that you need all wear ones, but we will get into that a bit later. Yeah. And it is a little timely with some of the new. Then going on. Of course the big news recently has been the other side or the other deeds, a land sale from Hugo labs they released, or they 100,000 plots.

[00:00:47] They brought in let's say. 561 million in trading within the first few days that all sorts of records is the one day high for the most sales ever. That has been the, the big talk everywhere. And of course this mint did not go without some pickups.

[00:01:05] Yeah. Th the critiques are, are many. And obviously like, look, there's going to be fun, thrown around quite a bit when it comes to this, but the gas prices spike to ridiculous levels. And I think. Peek of around to eat. So that means minting plus to eat which is, which is pretty ridiculous. And, you know, certainly burns a significant amount of Ethereum.

[00:01:29] Did they quote how much at your end they've? They tracked that was like burned as a part of this transaction.

[00:01:35] I saw it was over a hundred million worth, a hundred million dollars worth anyway. So yeah, so yes, it looked like initially they were going to have this be a Dutch auction. They abandoned that for some reason, the Dutch auction, the idea is that it starts at a higher price than, than most are willing to pay.

[00:01:52] It drops over time. And. So you've got you don't have everybody jumping in at exactly the same time. So they abandoned that model ended up going with a flat 305 eight which was, I believe about two and a half eith at the time. That, that has fluctuated greatly since then. And both are I guess, negative, but but it's fluctuated a lot.

[00:02:13] But any way that when they did abandon that, they also announced that there'd be multiple ways. Of minting so that you can mint to in the first way, if you were on the wait list you'd had to fill out the KYC form, which neither one of us had done because they had not said what this was for at the time.

[00:02:31] So they did have an idea of how many there were there ended up being aren't. There were over a hundred thousand that had done the KYC. Then people were looking at how many had actually approved the contract. And I held enough, eight to mint either one or two and within two hours or so before the mint actually occurred, they or some people figured out that it was going to mint out in that first wave due to the number of wallets that had approved it.

[00:02:59] And. So there were people jumping, you know, trying to jump the line, painting incredibly high gas fees because they assumed it would be worth it. That of course is you know, now factored into the cost at least on their side. But yeah, that's, it, it, it, it slowed down the entire network because any women transacting doing anythings had the same gas fees and, you know, it was for at least a few hours.

[00:03:22] That it was like this. So yet really slow down the network. You go afterwards announced that it was clear that Ethereum was. Able to handle the 80 for the Hugo labs ecosystem, which you know, I think there's a lot of ways to, to say that there that is maybe faulty, but they also did create this by, they knew how many people had the wallet.

[00:03:47] They knew many, many lands were available. So it seems like a supply demand issue in many ways regardless of the gas. But yes, it was over a hundred million. Sorry, burnt. They were going, or they are going to, I think they have refunded all of the unsuccessful mentors. There are many people that did not get their mince through.

[00:04:06] So they have refunded that. And I guess the other part of this, they haven't announced that they need to launch their own their own layer for the ape. For all of the ecosystem. So it seems like they've maybe retraced or, you know what is it they're maybe not going to go that far right away, but there was a lot of discussion of whether they manufactured this for the purpose of announcing a new layer.

[00:04:32] I don't know, you know, it's, it's hard to say that they, they could have put that all together. But it, it. Yeah, they definitely gave an example of why problems with Ethereum at times when there is huge congestion on the next.

[00:04:47] Yeah, it's hard to speculate on the, you know, using it as an excuse. I don't think you needed that as a, as a narrative. Like you just say that as you want to create it in New York, there's, you know, the Ronin network out there, there is you know, flow with NBA top shop. It's like, there's very much a precedent for large networks doing this.

[00:05:07] It was you know, by their own Testament, a incredibly poorly done. You know, the limitations of the net where you can't be surprised when you go outside in the rain without an umbrella and you get wet. There are limitations to the network. And if you drive an unprecedented amount of whales and to a short period of time and squeeze them on gas and they all ratchet it up, it's just a function of the, where the network is right now.

[00:05:31] It will be better in a year. It'll be even better in two years, but you do that on pretty much any network it's going to have a problem. So, you know, I you know, It went poorly, you know, like that that's, that's how it goes. And you know, they, they did refund some people, but you know, right now, if I sat there and I, you know, you said it's about two, two and a half year, it costs roughly depending on what you did with ape, right.

[00:05:55] For fermenting it. And then on top of that, you add the fact that you paid another two weeks in gas, like you're underwater, you're below floor price currently Flora's at 3.59. And also I w I don't know if. If I'm UGA labs, like, and I don't have, like, I don't know, fully developed game ecosystem for how all of this land is going to get used.

[00:06:17] I don't know if I'd be jumping into creating an alt layer one right now. I'd be focused on how I deliver value on.

[00:06:22] Yeah. And I think that actually kind of leads us to a next story here and we can get into a little more discussion of the layers, but the next story is over the weekend, we also had a Solano crash. It was down for seven hours. It was another layer, one there, where there's. There were bots forming a candy machine and a T type of thing on Solano.

[00:06:42] So it crashed the whole network. So that was actually down for seven hours, not high fees, it was just unusable. So you know, that's the other side, you know, when you don't have a very stable network it can completely go down, you know, Ethereum it's, it's made to be expensive at times because. There are a lot of people that want to use it, and you have to be able to deal with that when it does happen.

[00:07:02] As opposed to just having the whole network crash,

[00:07:06] Yeah, it stops spots by making it prohibitively expensive to, you know, process a whole bunch of transactions in a tight, tight, tight amount of time. Yeah. And there's a difference because the word crash was being thrown around for it hearing You didn't crash. It reads gases to absurd. So Ilana

[00:07:22] prices, right? I mean, it's, it's an absurd traffic jam it's and to get through it, you're going to have to pay an absurd amount. Now the difference, I guess, would be the roads. Closed. There was no getting on the roads. There was no access to roads on the Ethereum network. You couldn't do any, I mean, I'm sorry, on the salon network.

[00:07:43] Yeah. Sorry, I don't want it want to make that clear on this Alonda network. There was no access to the roads, so different story there. You know, and I think you get into a little bit more of that. Let's see. Yeah, we've got this story about the A print potentially migrating away. I would say that there is, there is precedent for causing or showing people why something could be, you know, another network would be needed.

[00:08:05] And that is quite the event to have a ton of eyeballs and probably worth spending a hundred million on to, to show people, look at how bad look at how much bigger we are than the Ethereum network. We completely crashed it and, you know, get people to move over to that other layer did that other and.

[00:08:22] Got to look at. I don't know. I don't think that that's necessarily what was, you know, I think the idea was to make it a big event and it was, and, you know, we can see with 561 million being traded. It they've certainly succeeded in making it big now, you know, I think there's a lot more, whether it's, you know, how successful it could be, but the.

[00:08:41] It's way too early to say if, if this project can be successful or not. Anyway you know, maybe that brings us to our next headline here. This is, this is quite the, the headline is all over the place here. What do you have for Joe

[00:08:53] Wall street journal says NFTs are flat-lining and they do no manner of research. They were so excited to find one way to cut data in a certain odd inaccurate way that they could run this title. You just get this sense that. There are journalists just itching, traditional minded, hates tech, just itching for like, see it was all a fraud.

[00:09:17] And now I can go back to the way things were. I can ignore the fact that the property layer of the internet is coming in. That, you know, blockchain is a real thing. They just can't wait for it so much. So that with no manner of diligence whatsoever, the wall street journal put out something that was so factually inaccurate and quickly.

[00:09:35] That one of my favorite newsletters just broke this down so quickly, but basically saying in the article that NFTE sales are down 92% since September. And so like, they loved that, but like, frankly, they're, they're not. And if the volume on open seat hit all time high, all time highs, thanks to even what we just saw.

[00:09:54] 480 million in sales volume on May 1st alone. And then like they show this chart and it's significantly high. You know, they're claiming that the number of active wallets are down 88%. The truth is that there's probably over 350,000 active wallets in the last week has been that way for 14 weeks of the last 17 weeks.

[00:10:13] So it's like not decreasing at, at all. And, you know, it's It's great. When you can just look at blockchain data and say like, no, those are the numbers you say, whatever you want. Like, it's just, you know, when you get into this, like, I hate the, the narrative of fake news, but it's much harder to do that when you can pull data reports directly from from the source, it's all open.

[00:10:40] Yeah, and well, it also leaves this all up for interpretation. I think that's one thing that we're struggling with right now is that all of this data can be sort of taken how you want it. Any data can really end that we don't have a lot of standards to look at. It's not like looking at. Looking at the stock market.

[00:10:59] And I'm not saying that these are stocks or investments necessarily, but looking at the same everybody agreeing that these are the numbers we are going to use to gauge the health of the market. There's a lot of people that are just taking whatever they choose and, and running with it. And there are a lot of, a lot of peoples that would like to to tell the, the story of the end of the NFC and or the NMT market.

[00:11:20] And. You know, and we'll find anything they can and that's, what's been done here. So it's certainly been it's been thrown around a lot. There's, I've seen some other headlines kind of I don't know, maybe playing on this one and saying that you know, trying to be more accurate with what they with what is going on.

[00:11:37] So this is, this is certainly not it. And I'm not sure. I'm not sure what the reason for this is besides just trying to, to give that headline to everybody that's looking for.

[00:11:49] Larry just such clickbait junk. And the joke of it also is that the largest day an open seat history just happened. Okay. Okay. Now there are points. I would write the article a different way actually. Like if I were to actually write it, I would just say like, you know, the NFT market is becoming a winner, take all extreme, you know, 1% play where it, you know, there's a hyper consolidation right now just around mega projects and an absolute sort of like shift in that direction.

[00:12:18] And I could, I would have maybe parsed the data in a different way of saying like, unless you've got. Over six grand or, I mean, frankly, over like 10 grand to play, like NFTs are not for you like blue chips go up, but other things go down like they're, they're intelligent ways to write the article. If you spend more than 30 seconds looking at actual data but I don't want to give these folks any new ideas, so I'll hold back.

[00:12:41] All right. Why don't we? Oh, no, you've got some project

[00:12:44] Oh, I got some fun project news

[00:12:46] right. Yeah.

[00:12:47] we, you know, we went through and updated our, keep us. honest. And so, you know, looking around the human park project had a drop this like obelisk looking thing is kind of funny. They dropped it to all holders. We have no clue what the thing is for, but you know, it's out there.

[00:13:02] It's a thing and it's showing that they're continuing to develop. And I still like that project quite a bit. It's built on the polygon network and then the crypto unicorn games. So we talked about crypto unicorn, Atlanta. You know, a while back and I will say, Yeah.

[00:13:19] that was on March 4th. The gland we recommended was like, 0.17.

[00:13:23] And it actually, since this launch is now hovering around 0.4 or or on 0.2 for basic, and it's really it's pretty cool. You know, there's an actual gameplay dynamic there. You know, who knows, you know, it's, it's play, it's a play to earn type of thing, but there's a whole dynamic marketplace and planting and playing around there.

[00:13:41] So might be worth worth look if you haven't seen it or if you have got it. But I always, you know, I'm always thrilled when the, Hey here's a game that promised they'd make a game and they finally launched. Cause it's very hard to do that. So applause to that group and you know, it works. I logged in, I planted some random rainbow seeds and I harvest.

[00:14:02] Now I've got more of them and I'm not quite sure what to do with that.

[00:14:05] All right. Well, we'll move on. I've got an affordable project now. On here for us this week called the medic key. This is actually the fourth edition just came out. So this is about a year old, I believe. Cause I remember you know, now very obviously stupidly passing on minting that first one. And those are our four eighth floor.

[00:14:25] This is the fourth. These are, I guess, one of the earlier utility type NFTs. The gives you access and discounts on various Properties or sorry, various places around the web. Really? In web three, they have quite a big, quite a lineup of partners. It's run by. Let's see. He's I don't know what this name is.

[00:14:47] Maddie BCL blogger. Is the the Twitter name. He is. Got a big following there and has been around the space for a long time. Definitely has a good understanding, good connections there. So this is the newest the newest key here is that the floor is, I think just under 0.2, as we're looking at this what I like about it is a team been around.

[00:15:09] I think you're going to continue working at this. And then it is in that utility area that we have been looking at recently,

[00:15:15] Yeah. it's got this funny graphic spinning around. It looks like a souped up. technical card that as that kind of spins around. So it gives you access to just general pieces, right? Like it's like e-commerce stores, it says eligible for airdrops.

[00:15:38] That's what I was trying to get at. It's quite a range of, of access and features here. It's not exactly what you would expect, not strictly web three. It's not just a, and it's certainly not just like for people that are doing minting or something like that, that a lot of different use cases here. So I think it's worth taking a look at.

[00:15:55] Especially at that floor price you know, watch around. I don't know, I've been watching the floor too closely, but it's one, I'm going to start looking at a little bit more and look for maybe a good price to enter it.

[00:16:07] Yeah. And again, I see what you're saying in addition one is like at four eith yeah, it's a wide range. It says, you know, potential conferences, virtual worlds in decentral end and sandbox. Clubs rooms, experiences. So it.

[00:16:21] really seems like they're, you know, you're not buying art, you're buying access. And, you know, we have seen that sort of access on the rise.

[00:16:27] And I liked the bet on at least something that has got a proven track record of doing this, not just like here's a brand new thing, we've got no connections, but we've got this access token. Good luck. So, you know, proven, proven pieces there. Yeah, flora 0.2 right now and yeah. Worth watching. Certainly if, you know, as each slips and maybe long tail projects kind of get overlooked this is an interesting one.

[00:16:51] And you said you owned one or no?

[00:16:53] I do not own one yet. I should, should note that as of now I do not own one. Just starting to look at that now. So it may change by the time it comes out. I may buy one. I've been but I have not got one as of this recording.

[00:17:07] Take a

[00:17:07] All right. Well,

[00:17:08] Hold on. I want to see the team

[00:17:10] okay, hold on. Yeah, let's

[00:17:12] chase that down. the medic, he.com and they have a fully doxed team, which, you know, big check, big check mark. Yeah.

[00:17:22] And they have a very large team looking at. Probably 24 employees and they they, again, they have a founder and a co-founder and these folks seem real with real names. So good. That's my other big

[00:17:37] would be one improvement I would say is they could put the website on their open, see listing instead of going to

[00:17:45] ended up on referable. Yeah.

[00:17:46] Right. I think, I don't know if they're

[00:17:49] feedback, if you're, if

[00:17:50] some sort of comment here, but Well, we'll put those, we'll put that in the show notes. For folks oh, okay. Onto our theme. So as we just noted, the theory of networks have become, will become very expensive. And again, this is by design for the stability of the networks and for, you know, validating number of transactions that go on.

[00:18:11] So, you know, Andrew for you, you know, why, you know, why do NFTs need this all layer, these these layer twos to, to get where we need to go versus I'd say maybe the con The counter to that, which is why not just, you know, wait for the merge, wait for the urge and wait for Ethereum to just get better over time.

[00:18:30] Right. So I think that for one, we've got to refer to more of the know NFTs that need a lot of transactions, things that are used in games think that you're using transact, moving around a lot, maybe lower priced, NFTs things that are just requiring you to do a lot on chain. When you're talking about high valued NFTs things, Bunks or board apes, you know, I don't think there's a problem with those being on a theory.

[00:18:56] And given that the, the fees are relatively. It's a relatively small amount of the asset percentage of asset value. Now, when you're going out to these other, these other places where you've got to where you're transacting more, and those fees are really adding up that's when you've got to find someplace else, someplace else to do these transactions and layer twos specifically Ethereum layer twos, give you give both the stability of the Ethereum now.

[00:19:23] The security of the Ethereum network and the ability to transact cheaply and quickly so they can hold, they can handle many more transactions and they do this by do, by handling all the transactions on their network initially, and then rolling them up by combining them all and writing them to the Ethereum network in one batch, as opposed to.

[00:19:45] Maybe a thousand transactions going through individually, they can write one transaction. So it's much cheaper by putting them all together. It's much faster and it still relies on that network. So that. That's the, that's a reserve. The way that those layer twos can actually handle it. And the reason is that these NFTs just need more.

[00:20:06] They need so many transactions that it's just not feasible to be doing it on layer one, as soon as we explained what the costs getting to where they are now.

[00:20:13] So to be clear, can you just name some popular layer twos that live on top of a theory? I'm just to put names on this thing.

[00:20:21] Yeah, that's great. And we should Solano. I'm sorry. Solana is not one. We were talking about Solano earlier. That's eight layer one. Sorry. That was on my mind. That's another layer one. And I wanted to make that clear. That's the layer one. So as far as layer twos, now we've got polygon. We've talked about that in.

[00:20:39] Slight discrepancy of whether it's a, an official layer two or not, but we'll, we'll just include that for, for intents and purposes here as a layer two on Ethereum. And it's been around for, for, I mean, pay relatively long time for these layer twos. And it it's considered pretty stable.

[00:20:56] There have been some, some bugs that have been found, which is a good thing. You know, you want these networks tested and you want to find that there are things so that it is getting better over time. Another one is optimism. They we mentioned them recently. They've recently had a, they haven't had the token drop yet, but they've announced it.

[00:21:15] And you can check your balance there that you have a, an NFT marketplace quixotic. It's not very popular yet. But it does make it much more feasible to do these and Ft transactions on that layer. Let's see. Some others would be arbitrary them. Zika sync, these don't ha arbitrary, arbitrary has more of a NFT marketplace.

[00:21:38] Though it

[00:21:39] All brains lives, right? Or do I forgot?

[00:21:42] That's right. Yeah. So it's on the, we've talked about this a little bit. It's a treasure of marketplace. Magic and treasure have both had some issues, both security and team wise. So, you know, there's, aren't, you know, I think that is one thing to keep in mind. These aren't without risk.

[00:22:00] They have less risk in my mind than, than layer ones where They really haven't been tested in any way. I shouldn't say in any way, but in any large scale, Way over a long period of time. That makes me nervous. These layer twos. I'm not saying that you don't have to feel a little nervous about these.

[00:22:22] We've definitely seen cross some cross chain hacks but they do offer more security and keeps it a lot closer to, to eat. Which personally, I just prefer in general, I think that. That that will hold a lot more value over time. Regardless of, of how so the sort of the multi chain I don't know, future goes here.

[00:22:48] You know, we don't know exactly how that'll play out, but I think things that are connected to the Ethereum network will benefit by being on that theory of network.

[00:22:56] Yeah, they get to borrow the security of a theorem and depending on obviously how they're coded, but get to borrow the security of Ethereum and then add the, the speed, the transactions per second, that, you know, as you mentioned, games need in general, frankly, for large-scale adoption, you're just going to need more throughput and.

[00:23:15] And you don't have to look very far back earlier in February, there was 320 million stolen in that. So on a bridge attack, like, okay, fine. Cause a PE firm, which is predominantly how salon is backed. Just wrote a check and they're like, all right, done. And the other pieces, the underlying token that underwrites, these, these various platforms is a, is another sort of added layer of risk, or I would say.

[00:23:44] Saying. All right. Well, how much are you creating of that token? Is it depreciating or appreciating? Because anything that you transact on there is denominated in that took is paid for, for minors or for staking or for the, the market price of that. And if you are dealing with a unstable volatile or deflationary or aggressively deflationary under written token for that platform, then like, all right, what is your net worth?

[00:24:11] That's a good question because it's. Based currency could be in Solano, which has dropped quite significantly. And twenty-five percent more if it's going to be printed this year. I remember them people in crypto getting pretty angry when the U S government printed 40% of its currency. Okay. Next year, you know what, they're going to do print another 25%, you know, that they're going to do.

[00:24:31] So I think that's another consideration, but yeah, getting back to security, that has to be the table stakes, I think for for any platform that's going to let you hold. I want to know that that property is going to be there and not get.

[00:24:44] Yeah, absolutely. So, you know, I think it kind of goes back to the idea of. Of UGA potentially launching that ape chain. And to me, the ultra, there's an alternative where maybe they partner with one of these existing layer twos and bring it over to one of these where they've got these, they've got all the benefits of being right next to Ethereum.

[00:25:06] And, you know, I guess the other part of this is it's a lot closer to people's wallets. They don't want, you know, When you don't have to get your, get your funds onto another chain completely. It's a lot easier to go between layer one and layer twos. You know, it's, it's easier to be able to bring those funds over there.

[00:25:22] Know, I think that's the way I would hope that they would end up going here so that they can stay closer to those Ethereum routes and still get the benefits of transacting, cheaply, moving things around quickly. And, you know, I would think. Benefit a lot of benefit. One of these layer twos, you know, as we've talked about, I think that there could be a quite a war for users.

[00:25:42] So if you can sort of, you can guarantee that you're going to get the, the UGA the, the Yugo holders to come on over and, you know, they do make some noise. They tend to they tend to be, to, to tell people about the things that they're doing. And you know, I could see that being a good marketing play for one of the.

[00:26:01] Chains instead of just, you get potentially rolling out their own and hoping for the best you know, as we've seen the minting wasn't the best. And it would, I would be concerned with them watching their own, their own network and not having issues there. I mean, it would be hard for anybody to do, and they certainly haven't shown that they they're without making mistakes in the technical realm.

[00:26:27] We just leaving roll back the clock. Whenever you're listening to this. They're not even able to keep their Instagram password protected. They got their Instagram hacked. It costs their folks $3 million in NFTs that were stolen from them. A very basic hack that was then posted from that channel. And you want to create a scalable layer, one that competes with Ethereum, that's been in business with some of the smartest people, developing it for a number of years.

[00:26:58] And you know, how many millions, billions of dollars in it. I mean, even want to compete with something like the Ronin network that got hacks for 650 million.

[00:27:07] I'm not sure if you've heard about some of the great projects that have launched on the Ethereum network. There's all sorts of them.

[00:27:13] board apes.

[00:27:14] Yeah, that's right.

[00:27:15] have heard It there's one the, a theater of network.

[00:27:19] Punks crypto pumps. The, you probably heard of that when you acquire your entire company is built on it. I feel like it was just a throwaway statement and they had to walk it back because at a certain point, you know, you, people will begin to realize you're just making more and more promises.

[00:27:34] And it's just like a pile of promises that will eventually be developed. But I think building an alt layer one is a ridiculous statement.

[00:27:42] Yeah. Yeah. It seems like that maybe won't be happening. I know immutable has has made some noise about trying to be a partner. Of course

[00:27:50] And immutable is a, is an alt layer one.

[00:27:52] That's right. So they have, they're also the ones that have partnered with GameStop. It seems like they are good at partnering those in the right place.

[00:27:59] So I don't know if that'll happen or not. I haven't heard a whole lot about that marketplace recently, but then again, there are more and more marketplaces all the time and we're seeing little bits of activity. Just, just spurred up everywhere now.

[00:28:13] I'm hearing a lot about avalanche and then sort of their, their own scalability. Haven't seen a lot of like big name hacks, which is not necessarily say good or bad. You know, their, their token is incredible. I mean, everything is down but that's, you know, one where I see some smart people starting to load up on, which is interesting as a layer one that I'm like, I'm gonna like take a look at some more and then there's wax, which has been in the game a long time, but just.

[00:28:36] You know, I think MLB had the largest type of relationship from a, from a high level with them last summer. And that really didn't go anywhere. And any of them

[00:28:46] sort of drop today and I don't think I'm not sure what chain that was on. Are you, do you know what. I don't know. I should say NLB. Sorry. This was tops specifically.

[00:28:56] is different. Yeah.

[00:28:58] Yeah. Nevermind. I realized I

[00:29:00] Is there any other layer, one that's on your radar?

[00:29:02] No. I mean, I'm more.

[00:29:06] I'm more aware and more into the out layer layer twos than the not layer ones. I would say. I'm not quite as in tune with those.

[00:29:15] Yeah. I mean, obviously for us, we've recommended projects on polygon, you know, I've seen it in action. I've used it. I trust that I've been able to bridge things back and forth and. Easier and easier. Because anytime you're, you're moving between Queens or between even layers, you need to use these bridges, which means you need, you know, that's another point of failure that can occur.

[00:29:35] So, you know, one, one layer one layer, one layer, two bridge that I like a lot is Umbria. A lot of folks use that one, but yeah, look NFTs are going to need getting back to our theme here. Layer to layers that are, they're going to get there, be it a polygon, arbitrary optimism, others that, that build on top of it.

[00:29:54] And organizations that launch on a theorem and don't code their stuff the right way, and then get angry that it didn't work. Cause they have like large files, small pipe and high expectation of a window of which people that act. You know, it's like someone getting angry when their website crashes, what we sent everybody there, but we only had you know, bandwidth for a hundred people and we coded it that way.

[00:30:18] We need to create a new internet because our website crashed like Dakota did poorly. You launched it. Ineffectually and yeah, it rained on you

[00:30:27] Right. There are technical limitations.

[00:30:29] the new inner.

[00:30:30] You gotta, you gotta deal with those. This is, this is nothing new. There have always been technical limitations. You can, you know, there are ways to break systems. Believe it or not.

[00:30:39] It's. Yeah, I guess that that final metaphor just seals it for me. I mean, a new, I need to create a new internet. My website crashed because I put a shit server and dumpy code and okay. I enough ragging on it. It was a successful drop. It was a historical high day, like an amazing to watch. And in the same, same week, a, a wall street journal say like, and if these are flat-lining and then an all time record broken after an all time record was broken by moon birds.

[00:31:05] There's a funny things happening in the end of sector. And we'll definitely keep an eye on layer twos. All right. Andrew. Thank you.

[00:31:12] All right. Good talking, George.

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7 Rules For New NFTs Collectors | Past Project Rundown

Monday May 02, 2022

Monday May 02, 2022

Theme: 7 Rules of Jumping into NFTs for new collectors

With so many about to jump into the Coinbase NFT platform, we thought it would be good to throw out some helpful tips/rules…

  1. Beware scams and rugs
    1. Double-check website, discord official links, and other NFT platforms to confirm a collection
  2. ETH in hot wallets is risky
    1. GAS accidents
    2. Chips in a casino vs cash in checking/hand
  3. Pretend to buy your first three NFTs and see how they would have done
  4. Opportunity cost - avoid FOMO by finding another option for something to buy
  5. Know your timeline to hodl or ffdl
  6. Define your methodology. Judge the team, community, art and utility
  7. Slow down, beware hot tips, usually means it has peaked. Most collections will go to 0.
    There will be another opportunity

Rough Transcript

[00:00:00] Today on all about affordable NFTs. We're talking about the seven rules of jumping into NFTs for new collectors. We know there's a lot of new Coinbase NFT platform, people jumping off that waiting list and jumping into a very interesting world of, you know, buying, selling, holding, flipping, surviving NFTs.

[00:00:20] So excited to share some of our rules that might just help you. And also if you've been collecting for a bit first off, Andrew, what he's in news.

[00:00:30] Hey, George Juliet. Let's see. What are we looking at out here? We've got what we talked about. This one, we've got optimism. One of the layer twos that saves you a lot on gas. They have announced. Oop he token airdrop or I'm sorry. I think it's the Opie token. But it's the token airdrop is announced.

[00:00:51] They haven't actually released the token yet, but you can go on and check the amount that that maybe you are eligible for other various qualifications in here. I do like some of the things that they've done, they wanted to both check if you've used the optimism network. But also check if you've done things like vote on No snapshots on.

[00:01:11] And I'm sorry if they, if you've contributed to get coins of their multipliers, if you've done multiple of these actions and those really add up. So we don't know what the value of this yet, but it is the value of the token yet, but it sounds like this will be a relatively substantial Airdropped for a lot of people and it should bring some liquidity to those options.

[00:01:33] Those people that are on optimism. One note that I happened to notice the the the NFT network quixotic it's the optimism. NFT platform saw it's biggest day in volume by a large share after the news that that was coming. So there's not a lot there that interests me quite yet, but it is maybe something to, to just keep an eye on and maybe familiarize yourself with if you know, if you are getting any of that optimism, token, it could be a fun thing to to check out later on.

[00:02:05] oh, I moved some money in and out of it, but I don't know if I did enough of the checklist for I'm on.

[00:02:10] like the app. I can't find it, but I'm the I'm excited and, you know, we kinda knew it was coming. Well, we'll say, have you checked if you're getting any,

[00:02:17] Yeah, I did. And I did qualify. So I'll say I'll get the link for so you can check this here and you can connect your wallet or put the or put another wallet address in and check that. And we'll put that in the notes. So it's exciting.

[00:02:30] I drop into our discord. You'll go, well, we'll put it there and I didn't get any, I didn't, I'm not eligible. I didn't do enough. Only two transactions. I didn't go vote on. yeah, optimism, user repeat optimism, user download or multisig centers. Yeah. Donated to get coin and priced priced out of the theorem.

[00:02:48] I don't even know what that means. Anyway,

[00:02:50] yeah, it was, if you've moved it, if you've moved east to other layer twos, if you've used polygon and stuff. So there were other bonuses in there. Another note here is that they announced this will be the first airdrop. They do have future airdrops plan. So if you did not qualify for this, you know, not worth just It will maybe worth still using the network to qualify for a future one.

[00:03:11] I think that's a great model actually, to reward people that have used it and incentivize new users. I think this could be, we're going to see a lot of, of airdrops I think coming up with these layer twos they've had a good discussion on this on bank list on the potential layer to. Wars and how they may use airdrops to incentivize usage.

[00:03:34] So you know, I think it's definitely worth taking a look at you know, if it's, you know, I'm willing to to take some of their, their marketing spend as a user and, and give them a shot.

[00:03:44] Yeah. And just to be clear when we talk about layer twos, I guess for the most part at the layer two is something built on layer one, but in the context of what we're talking about right now, it's layer two is built on a theorem specifically.

[00:03:55] good point. Yeah. Especially on this episode is we're talking about some, some, some new things. Let's a it's a generally a much cheaper network use and Ethereum much faster. They use optimism in particular roles up many of these transactions. So they combined them into one. And then confirm these in one transaction on Ethereum, so that you get the security of having it on the Ethereum network while reducing the fees that have to be paid.

[00:04:19] In optimism's case. Case the fees that you still pay a fee, there's still a big savings. So the savings that they take are put into the the public public goods portion of this, they, they use the funds to pub, to The fund public goods may S basically meaning developers, building different tools that could be used by the entire network and that are kind of needed to bring new people in.

[00:04:46] So it's, you know, ideally a, a sort of a flywheel where you're using the, the funds that are saved to build new apps, bring new people in, get more people using it and increase the fees to give back to the public good society of that network. So very interesting to see here. I think we'll see more.

[00:05:03] Definitely go check out if you are eligible and maybe move some ether over there, if you park and you know, be eligible for the next one.

[00:05:10] Yeah, that's a good that's a good tip there. Next you have fungible heroes and if ti project signs with WME and I believe this was a past featured project of ours and non-potable heroes, right.

[00:05:22] Yeah, that's right. Yeah. I thought we should mention this one. It's a, it is a past project we've mentioned. They started with, they signed with a big entertainment agency. There had been rumors of this for awhile. So there's definitely good. Seen some, some new action there. I don't know. I know a lot about what may be coming.

[00:05:40] You know, I'm sure there's rumors going around the discord and all, but nothing official of, of you know, anything announced yet. But you know, we've seen some other. Collections get involved with entertainment agencies and, you know, it does give an option for for new things to come out of it.

[00:05:56] You know, whether it's in film or some sort of you know, I don't know if more of a online entertainment thing, you know, that seems to be the, the play they've been going here. They published a comic book recently, and I think they have plans for another one. So could see it going that route as well.

[00:06:12] Yeah worth taking a look at the floor for non-refundable heroes. The gods is at 0.07 and unfundable heroes is 0.09. If I'm reading these numbers. Right. So still in the range of affordable, but we'll be going through a spoiler, our affordable project. Keep us honest, or we're going to meet backtrack on some of those pieces.

[00:06:30] So you just got your update on the. We jumped on it early.

[00:06:33] Yeah.

[00:06:34] This next one, this next one breaks my heart.

[00:06:37] Oh, this is a tough one. So we've got a, let's see the acoustic dreams project launched in minted and it was already priced at the bleed out for Eve to get into this. It was the act Utah. Several years actually to our dreams. But anyway, there's 34 million spent on this. They were trying to do a true Dutch auction that would allow everyone to pay the same price.

[00:07:02] Everyone would get everybody that paid over the final asking price would be refunded. But unfortunately the, it was not coded well. And. There's 44, 30 $4 million essentially locked away that nobody can access now. So that was the refund or I'm sorry, it's not the refunds. It's the total that was taken in by the, by the project I believe.

[00:07:23] Is that right? George?

[00:07:24] That's correct. In terms of the smart contract and just the guitars. This was a 3d avatar project based on Akio the original character created by a former major league baseball player, Mike and Johnson. Was inspired and thus then created a character who is a young black boy that dreams of becoming an astronaut inspired by an actual question he got from his nephew.

[00:07:47] So it's like a really great story narrative here of someone bringing certainly a different perspective and audience into the land of NFTs and then a poorly coded contract. Some of the details of that, I think I almost understood it was effectively that they. You know, expected to unlock after X number of transactions, right?

[00:08:07] So there's going to be 5,400 whatever transactions. And that didn't account for some people that I don't know, minted more than one in one transaction minted, two mints at three. So they never hit that number, but now all the things are gone, so they can't get more transactions. And so in forever lands, like there's 34 million worth of Eve burned and gone.

[00:08:26] And, you know, they're, they're left, needing to, to refund and go about, you know, how, how you Yeah. So, I mean, unfortunately he Mike Johnson is a very successful, successful artist in the space and has brought in a lot through a, another, I think it's KU chapters of project. They are saying that they're going to, you know, make this, make this right. But obviously that is that's $34 million.

[00:08:52] It could have been going towards the development of this project. And there was a lot of excitement around it. And I, you know, I'm not saying that it's, that it's done, but it's certainly a big challenge. And, you know, it's really just to pad to see because it's, you know, it is a, you know, it was a poorly coded contract, but regardless it's a, it's an unfortunate outcome.

[00:09:09] Yeah, it's just, you know, we were talking about, it always seems like there's just so much news going on all the time. And I think that's in large part because we don't talk about. errors that happen in web two, we don't talk about, oh, you know, such and such, you know, site that no one really cares about wind down.

[00:09:26] You're like, all right. Yeah. Went down. It was some errors. However, in web three applications, when you make a mistake, it means that your drop can literally burn millions and millions and millions of dollars to a level of which gets to a newsworthy piece. So every week it seems like, you know, if there's a hack, if there's a mistake, The stakes are just much higher in the land of what?

[00:09:47] Three.

[00:09:48] Yeah, the big stakes here and yeah. Always try new things and there's a danger with that, but why don't we run down some of our past affordable projects? You know, we mentioned one here already, but I think we've got some new things to, to get onto.

[00:10:04] We do. So we will try to keep this somewhat quick because I'll just be honest. It took me like, I just buried my head for a month and I didn't have the time and energy to go and update the, like, you know, 60, some odd projects that we've got in here. But overall here's the game, right? We're we're tracking the date of when we actually had it on the podcast.

[00:10:21] So then it's the assumed you by the floor or whatever our note is. And then you just held it. We don't even have like, oh, you sold it at its peak. Maybe we can go back and be like, oh, if he had perfect knowledge. But it's just, if you had bought it and held it. And so the total gain would have been 2.5 eith a gain of 144% on your overall piece.

[00:10:42] So it's kind of, you know it's interesting and it's fun to look at. And also I think it helps me just look at it and I think everyone should do this themselves. Every time you look at a provider. Oh, I think I might buy this. I think I might buy this and we'll get this into some of our tips, like keep a track of it.

[00:10:59] Cause it's very sobering. When we look back, we're not going to cover them, but there's some, you know, there's some misses in here and we, we aim small, Ms. Small, but we also invest small. So we lose small. And I think that's an important framework for, you know, all about affordable thinking. And so that said we'll go into.

[00:11:20] Nifty Lee DGN. This is down off of its peak currently at 0.33, when I looked at it I don't know if there's anything new with regard to like comics we talked about that came out or pieces they're working on their.

[00:11:33] I haven't heard much newer to them. It's not one that I'm very excited about at this point. I sort of moved on with that one and, you know, I think we've seen a, I don't know, we saw them try out the plater earn model and it definitely had some excitement. I think we've seen I don't know a lot of people move on from this play to earn excitement.

[00:11:53] Not saying it's done, but it definitely isn't. As high in article's list. And I think that nifty, we be Gen-Z is sort of one of the other people that have tried this, and it's going to be a challenge. You know, we've talked about the challenges with, with these gaming things anyway. So it doesn't look great in my opinion, but who knows?

[00:12:10] It could turn around.

[00:12:11] You really don't and I think there's actually a really great lesson here of any game promise in a roadmap because they actually delivered the game. I went and played it. I moved my little character around and I bounced off the walls and it was amusing. And then I was like, do I really want to play? Like, I'll just be honest, a flash version of a game of me running around.

[00:12:30] Or do I want to go jump on my Oculus and go do something more dynamic? Yeah. No. I think the brutal truth may be that, you know, layering in a web to game with your avatar running around.

[00:12:40] in a, in an interface is like it's fun once, but does that really drive utility with a capital? I don't know. But we're both still holding at that's a quick summary there running down the list I say with Zed, they have a token drop coming.

[00:12:56] The snapshot has already been taken, so that may open up a whole lot of new, interesting pieces of the price of courses is hilariously low. The legendary Nakamoto that I would have recommend you getting would have lost you point to eith. So I'm sorry to anyone who took that advice, but I think it's important to note that.

[00:13:15] Long Zed, but I think I have to make it much longer. We had the sandbox in here which is up from one where it recommended it. But as down, certainly from its high, which is interesting to watch the sandbox come back down. So it peaked when we were tracking it, you know, about 3.3, I think it got up a little higher than that.

[00:13:32] And it's currently trading at 1.6. You know, we talked about the sandbox land and that land issue. You know, as, as number go up when it comes to number of land plots, other things go down and in terms of price what's next, when you want to talk about Andrew

[00:13:46] You know, we we've got some that we've just recently mentioned on here, so I don't think it's worth getting into those. Let's see. Red

[00:13:54] The stars. I have a stars has been up and down and that's one that I keep looking at because I think it's one that well, I shouldn't say even up and down, it really hasn't moved all that much, you know, because it is such a low price, but I think that is you know, that's a relatively good thing for a, a project that is still.

[00:14:11] Ricky reputable. So I dunno, it's still one that I keep coming back to and think maybe, maybe that could get some more attention at some point.

[00:14:19] Yeah.

[00:14:19] see they're out. But when it, yeah, you're right. When we look at this, there's a lot of things that just aren't. You know, they are great. And I wouldn't recommend them at this point.

[00:14:28] In many cases, you know, and, and you know, I think that's something to kind of keep in mind and you know, how many of these projects are just, I don't know, lingering aren't going anywhere. And I think we have to kind of keep. keep that in mind as we go forward and picking projects, you know, are these things.

[00:14:45] And I don't think that we're usually saying they're likely to take off, but you know, is it worth it at some of these with some of these small projects? And it has me thinking a little bit more.

[00:14:55] Yeah, it's again, it's great to sort of look at it in the rear view mirror and maybe we'll go next time and say like, you know, would you still look at it? I made notes in here for that. I would say one thing that I've seen moving a little bit is the the Wagner w GMI, the, that sort of access to a tracking thing that we frankly love.

[00:15:15] And. 0.3, three, last time I checked and you know, that, that was an interesting interesting one because it has utility. And also we're looking at utility in the sense that maybe as more.

[00:15:27] people jump in and need to track more projects might be a play, but there's a lot of those coming out. I'll say in terms of, Hey, finally, a way to look at all of your all of your portfolio.

[00:15:36] Yeah, I think that's that's good to keep in mind. There are, you know, just because something is doing something now you've got to remember, will they be the ones or will they be the only one doing that? Will they be the leader in that area? And that's something that I'm trying to keep in mind going forward here.

[00:15:53] Know, maybe we could get into some of the discussion in another, another episode, but, you know, I think if it is good to look back through this and see, you know, what has you know, what has been a success, what hasn't. And I think it's, you know, we'll also get into some of the, our rules to keep in mind when you're doing this, because, you know, you've got to know your timeline and, and understand what your, you know, what you hold and, and kind of what you're looking for out of the project.

[00:16:18] And in many cases,

[00:16:20] Yeah, last one. I'll say, cause I could go on for, I mean, I actually keep up on a lot of these, but I'll, I'll leave it with human park actually had their drop, which was a really cool interactive metaverse type of style coming out of the land of. Zed, but it's a different project being run by that, that studio over there.

[00:16:37] But the floor is currently pointing to three, five, but frankly was zero. They dropped it for free. All you had to do is design one and they sent it to you. So, you know, the cost basis can't be beat. And I also think there's something to be said for the original batch of these nudes as they call them these avatars that are part of the original batch.

[00:16:56] And so it's still affordable if you missed it. I still think there's a window and they have a, a pretty impressive. At a pretty impressive start and roadmap out of them. knew that you would not throw a dart out here. Should we get into it?

[00:17:07] I think let's get into our rules, our seven rules of jumping into NFV fees for all those new collectors coming in. Huh?

[00:17:16] Okay, let's do it. Number one, be aware of scams and rugs. We talk about this quite a bit, but this means to me that when you are looking at pressing mint or pressing buy on whatever platform you're looking at, you should double check the site. You should. Double-check the discord official links section official links section.

[00:17:34] You should go on to other platforms, other NFT platforms, and just confirm that that collection looks like the collection that you're buying in. And always assume the first thing you have found when searching on open seat is a scam because the scams are literally optimizing themselves to show up in that feed.

[00:17:52] I think that's a good number one.

[00:17:54] Yes, scams are everywhere. Everywhere. Don't click on links ever. I mean,

[00:18:01] Don't trust us, Trust us,

[00:18:03] trust there. If I don't trust there, if

[00:18:06] trust, but verify.

[00:18:07] know, really verify, you know, make sure that you, so there's a lot of things you can do. You can look at the contract. If you're trying to admit something, get the contract address, go into ether, scan, put it in there.

[00:18:18] If you like, this is, if you don't understand what that means, don't mint. Don't mint. Okay. If you do make sure that you're looking at the current. Address and just check that there's actually activity there. That's a big, big, a very easy way to just see that it is a valid contract. And if you aren't sure in any situation, I mean, there's situations where you're getting the link directly from discord and you see it as official links and it matches up with everything else.

[00:18:44] Well, you just do it three times, but assume that there's someone trying to scam you every time you do something and in NFTs,

[00:18:52] Correct. Yeah. Check the domain you're going against. And so even after saying this, you're probably not checking enough. Number two, ease in hot wallets is risky. What do I mean? The amount of ease that you're carrying around in your wallet, in your hot wallet, while it just means that the thing that you're using to authenticate on different sites, we know we talked about web three applications, like.

[00:19:12] Is if that can be immediately quickly accessed, anytime you click a click, a contract. And so that, you know, one thing could be gas accidents, meaning that like, oh gosh, my gas I had, I was playing with my settings or it's a, it was a weird time to buy something and gas was absurdly high and was like twice the price of the thing I was trying to buy, but I had to buy it so quickly.

[00:19:31] I just clicked because we're trained to click quick. And so one of the things that can save you and does it happen to me is like, I don't keep much in my hot wallet and I accidentally pressed the thing that would have been an extra thousand dollars in gas. And like had I had that in there, it would have cost me that much that transaction would have gone through.

[00:19:50] So I actually deliberately keep a small amount or a smaller amount of E in my hot. Just for that sort of, you know, to thine own self be true. Cause I clicked quickly. The other mentality piece here is that having Ethan in a hot wallet is kind of like running around with chips at a. You're just a little bit more like likely to quickly put it on black by this quick thing you can FOMO in so fast.

[00:20:15] Oh, it's right here. But if you have to force yourself to move from system one to system two, thinking, meaning you take more than 30 seconds to think about it. It can, it can force you. So think about that, that kind of difference. Any other nuance on this tip?

[00:20:30] Yeah, I think that, I mean, that's like in part is, is good. Just a mentality that you don't have it right there available. It takes a little bit extra. He even takes maybe some, some gas to actually have to move it, not such a bad thing. And just separating things, you know, even as a, you know, putting it all in one, one.

[00:20:48] It means that if that wallet, if something happens to that wallet, you're really at risk having five separate wallets, not such a bad thing. If one does get hacked, not saying that, you know, you want one to get ever get heck, but it is, you know, it's a way to, and to help help keep yourself a little bit safer.

[00:21:06] Okay. Number three, pretend to buy your first three NFTs and see how they would have done do your own. Keep your, you know, keep yourself on. Hypothetically do it. You know, when I was when I was a kid actually like I think some of us had this like go, you know, you had this pretend stock, stock picking and stock market where you'd like, pick your thing and track it.

[00:21:27] I think you should do the same thing and just realize what would have happened, you know, give yourself a budget and be like, I'm going to hypothetically, you know, start my own investment thing and I'm going to put three down. I'm going to put one eighth into it and then see how you would have done. And I think you'll realize like, oh my gosh, if you just get rubbed once you're like, well, this is interesting.

[00:21:44] What did I miss? What did I get? Right. So I would say play it as a game first before you play it with with real, with real stakes, if possible.

[00:21:52] Yeah, absolutely. I think that is, you know, it, it helps you to understand where you're buying it. Are you buying it at the right point? Are you just doing it? Because it was pumped by an influencer at the right time, or you being somebody else, you know, are you there exit liquidity as, as, as often said, you know, you don't want to be in that situation and learn if you are following the right people.

[00:22:13] And that is, you know, that's not easy to say who the right people are. It takes time. I would say to, to understand, and I, I don't know. On social media, but who are you looking at? Who are the people that you trust in the space and go slowly because you know, the people that are worth trusting, aren't going to make it are generally going to just show up and tell you that it's a FOMO event.

[00:22:35] You know, and maybe that's getting into our next one. Here is FOMO certainly plays a part in this game.

[00:22:41] I think for FOMO, it is, it is the currency. It's the emotional currency of a lot of these projects. And so one thing to think about anytime you're about to buy is consider the opportunity cost of that money. Let's say you're going to mend something for 0.3. Well, look at least several other projects that are out there.

[00:22:59] That what else could you get for points? You know, could you go and get an avatar, look through our affordable list and be like, there's still some stuff there that might be worth shopping. It may not be as hyped in the moment. It may be in a cooler sort of state in terms of launching what's going. But I would say, look at look at that to tie it, try to tamp down your FOMO.

[00:23:20] I know for sure this would have helped me so much. If one of my rules is just like, before you buy, what else could you buy with this money to spend five minutes? Well, and then suddenly it was like, oh, because what's going to happen is you get sucked into another rabbit hole and then you get to like compare next

[00:23:36] that's a good point. There's always another collection. There's then there's another one coming. They're making more of these things. There may be some rarity to that in that collection in itself, but there's another collection coming and you can keep your teeth ready for that.

[00:23:50] No, your timeline, just going into a project. Are you going to hold all this thing or photo of this thing? I mean, fold for dear life, you know, you're just trying to flip for deal life or hold it. So it's just a mentality and just acknowledge that.

[00:24:01] upfront. I can, I can say I make the error of getting into a thing and then getting too attached to it and not flipping it when I probably should have.

[00:24:09] Yeah, I think that's really. And to put in there, you know, are you trying, are you looking at this as a short-term flip, are you looking at this as something that you're ready to hold for, you know, for a year or longer and try to understand that when you're buying it, because it really, you know, if you do think it's a short-term flip and the price goes wrong, you know, maybe that is time to just go ahead and get.

[00:24:28] Quickly because it's not one that you want to be holding for it long-term at that point. And you know, it's too bad, but sometimes you do have to do that, you know, on the other hand, it's I like getting into ones that I'm much more comfortable holding for a year. And oftentimes those. Going to appreciate quite as fast for whatever reason they're there.

[00:24:48] They're slower. They aren't the quick ones. It seems, you know, we do see that momentum plays a big a big role in NFTE. So those longer ones don't always get that that same mentality from everyone.

[00:25:00] next one. I have. Come up with your own rubric, consider what your rubrics is. The checkbox of that you have, we have a checklist that involves judging the team, judging the community, the art and the utility, some combination of that saying, okay, there's a balance here. And sometimes it's weighted toward one or the other, but come up with your rubric of what you think and then try to apply it and just acknowledge that like, oh, this checks some of these boxes, but maybe I'm compromising on the team, which is not done.

[00:25:29] Okay. That's minus one. So, you know, have some fun and develop your own methodology.

[00:25:34] Yeah, absolutely. And think about how, what you also have, you know, you don't need to obsess illegally, double or triple down and have different the same, or have collections that are doing the same thing over and over. If you, if you have some that are much more focused on art, you may want. And I've made a better portfolio and have some that are more utility-based, you know, and start thinking about those.

[00:25:56] But I would say, always look at the team behind the project, no matter what that is extremely important. Look at that team. We've talked about whether docs or undocks is the right way to go. There are, you know, in most cases we believe docs is way better and certainly having a, a track record of success.

[00:26:15] Pretty much a requirement. So look for these things and no matter what you do, make sure that it's a team that's going to stick around and be at this.

[00:26:23] Love it. And you got a number seven for us.

[00:26:25] Yeah. Well, I mean, maybe it's just putting a lot of these together, but slow down, you gotta slow down, be aware of the hot tips. There's people telling you things that are, they are telling you this to get you to do something in the moment. Feel like you got to go, go buy that right away. Cause there's only so much time.

[00:26:44] And it turns out at the same time they're actually selling happens all the time. Be careful and really slow down and think, is it something that you want to hold? You know, as we've mentioned, is there another option out there? Most of these collections are going to go to zero. We're going to see if there's, there's going to be some big winners.

[00:27:02] We've seen some huge winners and we've seen some, some mediocre winners and we've seen so many scams and some, so many legit projects that just aren't going to make it and it's too bad, but you've got to know that and be. Just be wary, slow down. Take your time.

[00:27:21] Yeah. And I would say even, not even the malfeasance there, cause it Can come from a friend who's intends to hold, but here's, here's the, the social nuance of somebody giving you a hot tip. It means that the project is getting toward a boiling point, a tipping point, a social proof layer that enough people have told a friend to tell a friend.

[00:27:40] That, you know, not saying it's a Ponzi scheme, but there's a point at which that falls off the edge and new buyers aren't coming in. And so if somebody is giving you this sort of excited tip, like, oh, go do this thing right now. How many people you have to just realize, have been told the same thing prior to you hearing us, which means where are you on the hype cycle of this project?

[00:28:00] And a lot of times I've found that even I'll just shout out to myself when I've gotten really excited about a project, that's like hype, it's like pumping. I'm like, oh my God, everyone's talking. Yeah. I'm not the first to know. I'm not the one who knows at that level. I'm usually when I'm the one, I'm the one who gets it.

[00:28:16] Right. Like even with the gray boys, I just got lucky. I threw a dart at that and it would probably be like, we're going back to that. One of the better hits. But I got lucky with that. I didn't know anything. I was like, I guess like, all right. If that thing goes up, that thing will go up. I didn't know, in the moment.

[00:28:29] So keep in mind. If somebody is excited saying, you have to do this now, it probably means 1700 other people have already followed suit and you might be at the like price you.

[00:28:41] know, price, inflection point, which is a dangerous place to play.

[00:28:45] Yeah, that's a good point. No, that you are generally not the first one to hear the news. So there are other people playing on that news and selling on the house, on the news, on the room or whatever it may be. We know that a hype is a big thing in NFTs. And the news when it is delivered is often not, not so not so good for a pro projects, Bryce.

[00:29:06] Well, that's what we got for you. We always remind you in the show closing, but you know, don't risk, which you can't afford to lose. Andrew. You said it most, I will say it pretty confidently. 90% of the projects are going to go to zero. And even you can look at our, our list are our scoreboard. You can look at it.

[00:29:25] We kind of know a little bit about this stuff, I'd say. And even still with us throwing darts that are somewhat informed as best we can look, we, we missed on some of these, you know, they're, they're down, some are out. But it's fun. So keep in mind, these are JPEGs on the internet that we call web three, Andrew.

[00:29:46] Thanks for helping us with this.

[00:29:48] All right. Good talking, George.

[00:29:51] Good talk. Good luck out there.

 

Read more

What’s the difference between Web3 & Web2 apps? | Project: Rug Radio Genesis

Friday Apr 29, 2022

Friday Apr 29, 2022

Theme:

  • Centralization often cited as crucial differentiator
  • How does KYC fit into distinction?
  • In many cases, “decentralized” orgs have a controlling number of tokens held by a small number of people
  • Wallet as authentication vs login/social as authentication. But discord still the main avenue of comms. 

Rough Transcript

[00:00:00] Today on all about affordable NFTs. We're talking about what the difference is between web three and web two applications. It sounds pretty obvious, but there's some nuance and some important differences. That'll be fun to tease out. Also a quick, thanks to our discord for letting me know that I accidentally uploaded a blank episode, just get air.

[00:00:23] So I appreciate that. And

[00:00:26] again, if someone is listening, I thought it was maybe a little test and you know, it's good people, somebody did check and get back back to us. So yeah. You passed the test listeners. Thank you. Or congratulate. It's

[00:00:43] good to know that we're not just talking to each other, although I probably just did it because it forces me to do research and pay attention and kind of put things out there.

[00:00:52] So what's going on in the news.

[00:00:55] Yeah. We've had some awesome big news dropping recently. So the rumored other side launch coming from UGA labs, which is yugas land minting. So there's a hundred thousand. Plots they've released some more details about this. Previously, there had been some details leaked from a pitch deck, but some more details confirm now, so this sale will happen on our let's see, by the time we're listening to this, let's see.

[00:01:24] I think this may have just happened in my rate, George.

[00:01:27] Well, we go, this'll be, there'll be listening to this on for

[00:01:30] ride. Okay. I'm sorry. This is, this is coming up on Saturday the 30th. So it depends when you listen to this, but it is on April 30th and it's a hundred thousand. Land's going to be praised in ape.

[00:01:42] There's no specific. Announced yet, but it is a Dutch auction. There's rumors that it may start around one eith worth, although I've heard two or three eith worth of Abe token. So we've seen the praise of ape climbing recently. I think it's up near 18 or so last I checked. And I think it will have a big impact on the on the NFT market as a whole.

[00:02:05] You know, it's, it's one interesting part to this is that. To be on the wait list for this, you must have filled out eight or completed a KYC know your customer application. And this was something that wasn't clarified when they released that. There were a lot of rumors that may be holding other projects, such as a world of women and crypt codes and some of these other projects that were shown in their other side video that those might give white lists opportunities, but instead it's actually for people.

[00:02:37] Are filled out the KYC form successfully seems that they are really trying to limit this to one per person, you know, much harder to to fake a person when they've got to go through a KYC process.

[00:02:50] And for KYC, just to be clear, that also means that they are obliged to report on any tax. Information or it's

[00:03:00] unclear what it's unclear, how they're doing that.

[00:03:03] Because one interesting thing here is that if you're a board, eight member board, a holder or a mutant NAPE holder, you don't have to do the KYC process. So you don't have to go through this thing. So I'm not sure that it's going to be. Necessarily reported, but you know, they will have that information.

[00:03:20] And, you know, we've seen countless situations in both, you know, web two and web three, as we're getting to have plenty of hacks and data leaks. So, you know, there is some concern and, you know, some, some pushback from a lot of people in the NFT community that prioritize more of the decentralized maybe anonymous way that a lot of people, our age, or a lot of collections are able to allow people to get involved.

[00:03:45] I feel like there's a future episode where we talk about the like pro-con KYC ethos versus like, let's just be honest. This is a $5 billion company operating in large part in the United States with people that should be maybe paying taxes on massive gains given. Board , you know, like, I mean, not saying that they aren't by any means, but I could imagine a legislative body looking at a $5 billion valued company with that type of lens.

[00:04:13] Interesting. Are you going to be, you need to line it up for the Lakeland

[00:04:17] or what, what are you thinking? No, you know, I don't, I did not go through that KYC process. So I'm not on that white list. I do have some ape token and you know, I think that that's still could climb a little higher there.

[00:04:29] There's a lot of excitement and you know, it's hard to hard for people to really bet against you to go at this point. They have, they have yet to miss on any of their mints. And while it seems like a lot of land and I'm not a N I'd be hesitant, even if I were on the wait list. I not ready to bet against them.

[00:04:45] Yeah. I will. I'll I'll be sitting this one out, as I said on discord, I, I missed the UGA train and I try not to jump on trains that have left the station. Cause there's one leaving. Every month, it seems. But I agree with that summary speaking

[00:05:01] of

[00:05:01] this one was a big one. They, they had. Instagram account hacked. And there were, they, someone released an announcement that they had started the other side meant early and looks like how much was taken here,

[00:05:17] $3 million. And this is like, this is all, it took a couple of quick posts on Instagram to trick people into a fake site, hook them and rip them.

[00:05:28] Uh that's that's it right? Like the, the costs of. Social media security. Speaking of web two has a, has a different level at this point because of the quick access to capital hidden in wallets, locked in wallets, easily accessed. Once you sign a con.

[00:05:46] Yeah, it doesn't seem like there's many, many NFTE projects doing much on Instagram.

[00:05:51] So I would be at this point, be wary of any links there, especially things that seem a little too good to be true, but you know, it's hard because that is the The culture that we're breeding to, to jump and then ask questions. Right. And it can be difficult at times you have

[00:06:07] 10 minutes to sign this thing.

[00:06:09] Oh, you missed it. Oh, too bad. Oh, you have, if you see the sweet, you have to act now. Okay. Now look what's to say that, that Twitter account, like something just Instagram what's to say that Twitter account isn't hacked or the discord I'm actually in the land of a peg ACCE. I really respect the team. Cause one of the things that they do.

[00:06:27] I think every other month or so they literally post in their announcements channel, something designed to like fake hack or white hat hack their audience. So recently are coming out with this, like download for a for racing the actual Pega on your mobile app. So it's like a mobile app download and they just created a spoof site and then they just announced it.

[00:06:47] And then they come back and say like, if you went to this, you were just hacked by us. You weren't hacked. You could have. Never follow links that don't make sense, pay attention. Right? Like they did that,

[00:06:57] Amanda with a bag of bones or something. Right. We've seen that way back.

[00:07:02] Oh boy. The bones. Yeah. Right.

[00:07:05] But I think there, I think that it's something that I think some of these projects should start. Sort of steel Manning should white hat hack themselves should really protect their audience in a, in a deeper way. And I think overall it might even lead to deeper trust and a smarter community because we are still in the beginning of new people, learning what it means to run around with a, with a hot wallet on.

[00:07:26] Yeah, absolutely. So we've got another big, big money story here after a big mint. And I don't know you want to walk us through this one, George. So the

[00:07:37] title coming out of crypto briefing is days after $66 million NFT drop moon birds, executive unveils, a fund. And I guess that's like a nice way of framing it.

[00:07:47] Different way to say it. I mean, it is a factual thing of what has happened here. Not much opinion there. So this is the COO of the proof collective who, and they just had the, the mega successful moon birds drop went up to close to 40. I think it's now a floor of about 28 or something last I looked, but yeah.

[00:08:10] And we talked about it a bit, how much money they brought in right away and over 15 million just in secondary royalty fees. And that was after this. As we mentioned here, $66 million drop. Oh, boy, I have to

[00:08:23] say we were hanging out and talking unrecorded and believe it or not, we speak to each other on recorded and I have to hand it to you.

[00:08:29] Andrew, you literally told me this. You literally said, look at the history of both of these guys while they have incredible, you know, knock it out of the park home runs. They also start and stop and start and stop things. They're serial entrepreneurs doing a lot of things and you kind of like question the long-term conviction of them.

[00:08:46] And I was like, yeah, yeah, sure, sure. As like a risk factor when we were talking about. You know, should we jump in at an absurd price when, when it launched? I just can't believe how quickly that sort of premonition came true as Ryan Carson is now moving on to launch his NFT focused fund called 121 gigawatts, not a bad nod to back to the future, not a bad nod, but like immediately leave as like there's a reason they saw two power players working together on a project, part of the perceived value.

[00:09:17] That fact that, you know, his name was involved with it. Now it's still, Kevin Rose is still an awesome, it's still very strong project,

[00:09:23] but to be fair, I think more people were interested in Kevin Rose. Then more people were aware of Kevin Rose passed and then Ryan Carson's, he's been kind of put into the spotlight by Kevin Rose and by this, the success of the proof project, I would say It's still, you know, it's still just, it's not great to see a team split up that quickly to see someone.

[00:09:46] I mean, the fun sounds like it's very going to be doing very similar things to what proof and to what moon birds is already promising. So, you know, it's, it's also a competitor in that sense and, you know, it's, it's I don't know. I think he said that they're already 80 people in interested, but there were also required 25 each for four consecutive quarters.

[00:10:08] So that's a hundred eith you know, this is that's huge, even compared to the floor of the moon birds, you know, and you know, not a great look at the very least not great timing. You know, it was also interesting that he had put a quote or a tweet out asking for someone to put together a one-page website for him about seven hours before he announced this fund.

[00:10:28] I'm impressed. He was able to get it done that quickly, but generally speaking, not I wouldn't say that's a whole lot of forethought to launching that project, so I'm sure there was a little bit more going on behind the scenes, but I don't know. I it's it's we'll see what happens to move birds here.

[00:10:44] It's definitely going to be a challenge for them at the, in the short-term.

[00:10:49] Yeah. I feel like I'm as we talk, I just have other themes. I would love to talk about like the, that just spin off of this, the number of people that were already like quasi calling moon birds, a blue chip, anything you're like, we got to redefine that.

[00:11:06] So I'm going to parking lot. What blue chip actually means how it's being missed freaking used and how it definitely shouldn't be applied to something that has been live for seven days.

[00:11:16] Absolutely. Yeah. Yeah. I think price is often too too much correlated with what makes a blue chip collect, writing it down right now.

[00:11:25] That's a good one. George. We'll come back to that. All right. Let's move on to our affordable project while you write that down. I've got one there this week and you know, it's one that I wish. Recommended a couple of days ago. Cause it has, the price has moved a bit on it. But this is rugged. Radio is a Genesis NFT there.

[00:11:43] I believe the floor is sitting a little above 0.3. It's been hovering around a bit. It had been down under point. Under 0.2, five a couple of days ago. So it's picked up a bit. Although it's still down a lot from where it once was. So rug radio is a decentralized media company, essentially that is producing very NFTs, but it's mostly.

[00:12:08] Focused content. They do a lot of Twitter spaces in various topics at various hosts that do different shows and let the users produce the content. You can get these Genesis NFTs, and then they have a membership NFT, a different collection. Of course the Genesis is is the higher priced one and it yields a rug token each day that you hold it.

[00:12:33] There are various levels in there. So you get different amounts. If you, I can't remember the exact amount, but once you get enough of the rug token, you can exchange it for a rug, Dow tokens. You can become a member of that Dow. They do have some big names that are involved with this. Keith Keith Grossman from time magazine is he has a number.

[00:12:54] He hold a number of them and is also on. They're thinking what they call it. The council there, a few, other of the big NFT collectors and investors are involved in the project as well. I, I listened to one of the shows, almost every weekday, and I think that they are live shows,

[00:13:14] right. You can't listen to it.

[00:13:15] Exactly. That's, that's a, that is a not great right now. They do have plans to change that. So they want, they are, you know, they, they are changing that around. I don't know exactly how they are going to do it. If they're going to do a podcast or what they're going to do, but they're going to have more recordings because the Twitter space.

[00:13:31] It's not great for listening to a recording. They do record some of them, but it's still a pain. You can't even set a, you have to set like a reminder for each one. It's not great. They still get a lot of people listening to it. They're showing up daily and there's a lot of people showing up daily and doing the work.

[00:13:46] And I think that they are going to continue to do that. And I think they'll be able to, to grow the listenership over time by making it a lot easier to act. At least I hope so, because if they can't do that, then Twitter space. Well, who knows, maybe Twitter space has improves. There is that possibility.

[00:14:02] There's

[00:14:03] great tweet at Elon Musk and he'll handle

[00:14:05] it. He's yeah, I'm sure he'll get his features. And if you have anything to get a problem with your Tesla's same thing. Yes. Just tweet them. I'll put Twitter thread. He'll he'll get right on it. So full disclosure. Do you have

[00:14:18] any of these? I do. I have one of these and yeah, that's it right now.

[00:14:23] I am still looking to maybe pick up another price, definitely moved a little faster than I anticipated, you know, it's, it feels like that's been happening to me and some of these projects recently, but that's a good thing. I'd say if you're yeah, it

[00:14:37] looks like there are a standard scare scarce, one rare to rare one.

[00:14:42] So there's. Places. I have no clue what these things mean. The art's cool. It looks like a rug with images on it. It's a. I will also say I actually own rug radio pass the membership pass. I picked up one of those for fun. I was like, yeah. Why not press on that is 0.059 as I'm talking about it. Now that

[00:15:00] is another affordable option here to look at.

[00:15:03] I don't know. Count that as the same project or not, but I think it's worth looking at both these and I wouldn't jump immediately necessarily you know, look for a good one. So the, some of the differences in the scarce and rare attributes there, they will, they will yield different or. The more rare ones will yield more of the rug tokens each day.

[00:15:26] So there is that if you think that you will be holding these longer, you know, I, you know, getting more 10, 20% more per day would be worth it. But you know, that's the biggest difference I believe other than the rarity itself.

[00:15:40] So it's kind of funny. I picked up the. The membership pass. Cause I was going to potentially fill out a info for submitting our podcasts, like as a feed to syndicate there.

[00:15:50] And then I was like, oh no, we're not doing this live. And I was like, oh, I just want to syndicate episodes. We'll do a different intro outro. Would you be up for that?

[00:15:56] Yeah, absolutely. Yeah. All right.

[00:15:59] Well, if you're listening in the future on rock radio, here's, here's where it happened. All right. So I'll put that on the list, but I I'm not alive person.

[00:16:07] I just want to talk about what I wanna talk.

[00:16:08] All right. Should we move on to our topic? So the

[00:16:12] topic web three verse web two, just to set the stage web two, we're essentially talking about the macro social layer of the internet. Web one was the like, Hey, let's put up a bunch of brochures that can be accessed on line that map over IP addresses and that whole like initial web.

[00:16:31] And then we get the social layer of the web is at least how. Kind of looked at web two as a, as a macro idea. And then web three is the property layer applied to all things on the interweb with essentially the blockchain running to oversimplify it in, in the background as opposed to the social layer.

[00:16:50] So when we talk about apps, applications, like it is any, and all things that you're interacting with through that kind of web interface. And that's kind of where I'd sort of start the main high-level. If I can climb up to the ceiling. Social layer versus property layer.

[00:17:07] Where do you take it? That's a good way of putting it.

[00:17:10] You know, I've always thought of web two as basically giving users the option to, to interact in some way, you know, it gave users the option to comment, to, to post, to do all these things. And before that, as you said, it was mostly reading brochures. And I think now we've got that property level, you know, maybe another aspect of it is the potential to earn.

[00:17:30] In this, in this, you know, as we've talked about it in kind of the metaverse, as opposed to just earning online in a digital fashion, I think this is a different thing you're earning from in a digital economy. That's that is more natively, digital, digital than just something that has been sort of ported over from maybe shopping in the real world to shopping online.

[00:17:52] Now that's a much more. To sort of usage of of the web, I think, or of, of the internet. Although, you know, because the shopping is basically the user interacting with it in some way, but it's never, you know, you're not owning anything digital. You're not you're not really caring about digital property in any way there.

[00:18:11] Yeah. You have a note in here, a big difference being central is. Usually cited as a crucial differentiator, which is like, it kind of makes me smile a little bit, because I would say for the majority of web three applications, they aspire toward decentralization. It's certainly in their roadmap, but make no mistake at all.

[00:18:36] They aren't there yet. That's not to say that they're not going there and then direction. Whereas web two is inextricably locked into. To a centralized governing board of acts, a CEO that owns this, a founder that owns this many shares of public market. You name it, but you know, you can follow the money.

[00:18:55] So to speak back to a deciding body like MRX Zuckerberg, or now, and Elon Musk, who's going to own

[00:19:02] Twitter. Yeah. Well I think maybe this is used too much as a differentiator. I think it may be a separate issue because, you know, if you look at something like, I mean, you'd certainly say email is, I don't know, it's maybe it's a protocol, but it's, it's nobody owns this and it's this, you know, this is certainly decentralized and it's not web three at all.

[00:19:24] It's a very old. Idea. And I don't think anyone would even would ever call it web three. And it's still certainly more decentralized than almost anything that we have in web three Bisa maybe even more so than, than Ethereum itself. I mean, there's that, there's more ways to, to always set email, to access email then, and I think even run on the run, the Ethereum network.

[00:19:47] So, you know, there's most of the companies that he said that. Yeah. Using in this web three world are centralized. They're using their private servers. There's a lot of off-chain transactions that are happening that are private to an app or that network. I mean, you know, the biggest, the biggest marketplace in NFTs is open C by a long shot.

[00:20:11] And that is a private company based in New York. You know, that. They abide by us laws. They are a very centralized company. And you know, at the same time they allow you to come and bring your wallet there and bring all your assets. And you don't have to fill out any account registration form to be able to just use the platform itself.

[00:20:32] You can come bring all your property there, use all of their services and not have to have purchased anything on. You don't have to purchase them from open sea itself. You can purchase, you could have purchased them from, from known origin, from a websites, from an artist's website. You could, you know, you could have created it yourself somewhere else and still use the same the same marketplace there.

[00:20:56] And I think that's a real, that's a real differentiator to me is that you can take your assets and move them somewhere else and have the, have them accessible on that.

[00:21:05] It's huge. I mean, there's two pieces there and I'll just start with that first one, which is the, the right to your assets, right? GDPR, the largest, I'd say data, privacy regulations rolled out predominantly through the EU, but having ripple effects does have a clause that lets you legally demand from a company like Facebook to export or right to your data, export your data.

[00:21:29] Now. You can go on and do that and fill out the form. And you're going to get the dumbest shittiest, little XML dump of your stuff that is just wildly unusable. Same thing for Google. Where are you taking that in that proprietarily coded, you know, set up just freaking nowhere. Now, juxtapose that with me, jumping from open C over to looks rare.

[00:21:54] It's instant. There you go. Here. All your NFTs. That's what we see. There you go. Because it's an associated with my wallet in a unique way. They are forced to render it to the universal standard versus the universal standard or the local, I'd say, standard of data architecture. And what have you being owned by that centralized or more of that authority.

[00:22:14] So that is the difference. However, There's a lot of similarities here too, when you're talking about, oh, well, email is open except Gmail has like, you know, X percent of the market search is open except, you know, Google has 80% of the market when you've had these gatekeepers, which look a lot like web two companies, by the way, sometimes it ends up going right back to some of those web two elements.

[00:22:36] I think.

[00:22:37] Yeah. There's certainly some of those elements that, that come through here. I don't know. And, you know, I think a big part of this is there's not as clear a distinction as everyone's maybe making it out to be. Most of these companies are going to be a blend of web to web three. We certainly aren't anywhere close to having a completely.

[00:22:55] Decentralized ability to access the internet. You know, there's ISP or internet service providers are very centralized and, you know, we've got, that's certainly an issue and we've seen that, you know, you can get your access can just be cut off. So, you know, I think we, you know, we're nowhere close to make a fully decentralized internet.

[00:23:15] You're always going to have to use centralized technology of some sort to access these things. And until there's more, I don't see how. We have three to go completely decentralized. You know, we've got, I don't know. We've got a very, we've talked about. A few you know, just a few key players can really bring down almost everything.

[00:23:36] You know, there was a inferior API outage just recently and saw a gas get down to, I think it was about 12 away at the time. So, you know, it's you see how just nothing happens when, when this inferior API goes down because of. Everything and website, you realize upon that that mask included most, most NFTA APIs have it in some way.

[00:23:57] So, you know, we are, I mean, in some ways maybe we're even more centralized at this point because there are, there's so few apps and so few choices of what to use compared to web two, which really has spawned, you know, a number of options and redundancies in the technologies that are used every day.

[00:24:15] Yeah. I mean, you can look at the Apache bug that happened not too long ago where, you know, we, we are all built on like layers and layers and layers stacks of, you know, code API APIs that, that run in the background. A big one that I'd say as far as a difference, and this may seem weird, but it's like more of this like point of entry and authentication where I, in my mind, see web three apps using the wallet as the authentication, you signed something to sort of then render.

[00:24:46] However, they're going to view your assets in their ecosystem. Either look at your permissions for something. Show you what you have access to, to merge or race. In my case, a lot of your, a lot of your assets versus web two, which is, you know, log in, you know, you sort of standard user password or social authentication, Google authentication type of pieces that like log in and verify via social pieces.

[00:25:12] But the funny thing is where it's like, well, wait a minute. Almost every single web three project uses. By the way. Okay. So that's like very much dependent on what to social, but a platform that literally hates its NFT users so much that it reverted the ability for something as basic as a functional check on whether or not you're holding a certain type of NFT.

[00:25:34] So not there yet, right?

[00:25:37] No, definitely not. There. I don't know, you know, I think it's hard to get there. I'm not sure if that is, if it's just a dream that everything can really be fully decentralized. I think it's great to have options and the option to bring your assets to another app when, when, and if you need to.

[00:25:56] And hopefully that it's, it's not they're viable options. It's not just, well, you can take it like you can export your data from Facebook. You can take this in an actual, use it somewhere else. I would say that's the most exciting piece, the idea of the property layer being at the individual at the individual contract layer that I know that I have a wallet address with these assets in it that I can hold and protect and move I'll be at they only are rendered, right?

[00:26:23] Like I can only raise my horses that said, there's nobody else being like, and take your ponies out for a trot here. I'm like, oh, don't mind if.

[00:26:30] So, you know, that

[00:26:33] may and can change. There are many projects looking at what that transportability can look like and how you can partner with these assets and play with them together.

[00:26:41] And it's still very new, but it'll, it'll be, it'll be very interesting, you know, it's like, what would it have looked like in the early days of, you know, the video game world, if you could have brought Mario into battle, you are Sonic the head. And we'll get the, we'll get to find that out,

[00:27:00] maybe. All right.

[00:27:01] We'll see. All right, Andrew.

[00:27:03] Good topic. Good theme. I think we did it afforded project, some news, a little banter, and maybe, maybe we'll even include the audio on this episode. Maybe not. People will test you. All right, we'll get dark and.

 

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Digital Land Scarcity VS Price - 200k APE Land Sale

Wednesday Apr 27, 2022

Wednesday Apr 27, 2022

Theme: Digital Land Scarcity 

Rough Transcript

 

[00:00:00] Today on all Today on all about affordable and FTS, we're talking about digital land scarcity. So in The land of abundance or the land of and

[00:00:58] seeming to dictate what price

[00:01:00] something should go at, and we'll be teasing out some of the different models out there, open Metta versus versus what you know large and small projects you go labs, sandbox, and the like, or are up to. But first, Andrew, what are you seeing in Yeah. What are we seeing out here? Right. We've got some headlines here. Well, we've got this article that I think was worth pointing out here by Kobe a influencer. He's been around the, space for a long time, but he said that he had recently been someone on the. The Abe council, the, the, Dow responsible for actually issuing the coin to get their opinions on some governance staking of the parking it somewhere and earn a more by parking it there. So he. this opinion that basically the, this isn't What staking was initially staking was meant add more security to a network by having someone both the that in this case would be ape along with maybe Ethereum.

[00:02:03] So by parking it there you, you're showing more belief in the coin. And that more value locked up for that which allows them to build with more confidence. So now we've got a lot that's, what's kind of being proposed with this eight point. And it's not. Certainly not looked upon all that. Well, by, by, Kobe in this, article as he's saying, there's, it doesn't add anything to it What they should be doing with this is building building more that can be, maybe build a marketplace for the for the Eagle labs. NFTs, you know, they get you, as you pointed out that he spent, or there were over 60 million spent in fees of the last year on on open sea alone.

[00:02:46] So there's a lot of potential to build, that could could bring more people to the ape coin. I don't know, a more natural way than maybe just giving them a more tokens to, to lock up. So it's an interesting, definitely interesting article. I think it's worth reading through gives you some ideas of how the, the history of staking and how it's And you know, I think this, this. Ape coin a coin has potential to, we've seen it has potential to have some big influence on the NFP market. Certainly when it was dropped, it had a lot of inflow or have a lot of influence, bought a lot of liquidity to the market. and I think it's going, you know, they're trying to make this the coin for the big land sale, which we're going to be talking about today.

[00:03:28] So I, I, you know, I think it's important to keep, keep tabs on what's going on in with the.

[00:03:34] Well, It's incredibly smart because they easily could have just made the land sale and Eve And collected Eve. But instead, what they're doing is forcing people to buy right. Buy the coin, drive up,

[00:03:49] pricing it and pricing it and eight well.

[00:03:52] Yeah. Pricing at big move. Right. it's not pricing it on the P And L it's like no. an eight, which is going to drive more people to have to again, transfer that much, right. Three eith it

[00:04:04] into a coin. And by the way, I driving up the

[00:04:09] prices of the damn thing. So you need to get more aid coin,

[00:04:12] like, you

[00:04:12] know, there's, I'll tell you what, there's a few people over a few brain cells And they're doing some smart things.

[00:04:18] If you're

[00:04:18] like looking at it from. And economic perspective. And, you know, I think it's important to have that narrative

[00:04:23] of like, you know, you're misusing defy and you're going to break things like, okay. I mean,

[00:04:29] it's, you know, it's got to function and it's being extended. And so it's kind of

[00:04:34] interesting to watch people that are older in the sector would be like, oh, you're, you're doing it wrong.

[00:04:39] That's not how you're supposed

[00:04:40] to use defy. I kind of see a little bit

[00:04:41] of that and ringing, Yeah, I I don't, they didn't see that as much. I, think that there is a, there's a lot to be said too, you know, rather than just admitting that lock up a token, you know, say they're not going to sell the token. And there's, you know, he values that well, I believe he had it at $7 billion or so if that's $7 billion, could it be. Could be deployed in many ways to bring people to the ecosystem rather than just emitting more, which is also diluting anyone that doesn't do that. You know, So there's a lot of a lot of mechanics that go into it. You know, we're, I don't know, we've seen, you could be quite successful the way they've rolled it out, rolled far.

[00:05:21] So well, I should say this isn't technically yoga And you know, it is heavily. Influenced by the UGA team. So, I, you know, that's, that's a question that he you know, brings up as well as, you know, the fact that there is there's some lockup on the tokens by the investors team, but

[00:05:40] And there's an unknown lockup. is just like discloses, like, and an has got lock

[00:05:44] up. And it's very important if you're playing this game to understand when those

[00:05:48] cliffs are.

[00:05:49] Right. So there's not, not all of this is locked up. There's some already, already available for those investors, early investors and the team to sell. They unlock more at about six months. And that's, that's because at the same time they're incentivizing everybody else to hold. So, you know, just be wary of.

[00:06:08] Of what's being said, and what's being done. I'm sure there will be other reports. And I'm not saying that they are definitely going to sell and dump it just that they do have that opportunity. And there's a lot done to to incentivize others to not do this.

[00:06:23] Yeah, I'm not

[00:06:24] So anyway,

[00:06:26] anyway,

[00:06:27] moving on, we've got ponder where ponder, where the developers of moon cats. We've talked about them in the past. They have that they may be selling off the IP to cats. Interesting story here.

[00:06:42] Well, I was because I feel like it was the last week where I put you on the spot. I was like, would you buy more moon cats? Or would you buy like this other thing? And you're like, oh, I guess I'd buy more moon cats with this. Right. But like these older projects, that frankly have have the, sort of the history behind them and they have a team and there are people that hold them.

[00:07:02] Like I think the

[00:07:03] project. Really kind of, I'll just be honest underperformed for where I think

[00:07:07] it could and should be because you know, maybe these,

[00:07:10] these folks are developers and they're not marketers. clearly there's a strong element of marketing community must be developed. But anyway, the the net effect of that is that there's been a I think you know, it's starting to come back down

[00:07:23] again from, from what I see in activity, but it was downloading. Point three, two. goes below a 0.3, them. And I feel like they knew it and they just ran up and on the car.

[00:07:35] Yeah, they did have a good little run here, so we'll see. We'll see if any buyers emerge. I'm definitely curious to make a little bit more of this project. It seems like one that is talked about by, I don't know, by everyone at some point and definitely has underperformed. it's it's, it'd be exciting to see somebody else get an opportunity to do something more with it.

[00:07:56] Definitely not. Marketing is not the strong suit of the team behind this right now. So much like the larva lab think they comfortable developing and not as into the marketing of things.

[00:08:10] I feel like moon birds could just like buy this with one day's worth of trading volume.

[00:08:17] Moon cats. Aren't good for birds. I can't imagine.

[00:08:20] You get your owls? It's very much a similar graphic style. I got to say it wouldn't be that,

[00:08:25] true. It's true. They got the moon,

[00:08:27] stretch.

[00:08:29] the moon verse. else did we have here? Oh yes, I saw this one. George, you've got a good control on NFT data storage.

[00:08:37] I know this is kind of a bit more of a wonky one, but this it's important. To understand like how they're sort of mapping out and where things are living. And basically it's sort of showing us where things are being Over time, if your file is stored on a server on an Amazon cloud infrastructure, and somebody stops paying the bill,

[00:08:57] your NFT is gone. Image is Sure. You still want. The code that's on the chain, but the image right where it points

[00:09:04] to who've gone so that, you in the past is where IPF asks. a protocol file storage, I think is in play of putting the actual assets on chain when you're assets.

[00:09:16] And this is just kind of breaking down

[00:09:18] kind of where things live and it's, I dunno, it's a good technical an

[00:09:22] understanding cause this much money on a JPEG, you mind, my mother makes sure the server bills

[00:09:27] are paid.

[00:09:28] Yeah, did mention that a lot of Ethereum projects make use of IPFS, but also make use make use of Penn pinning service to share easily, get URL to the IPFS so that Kenyatta is somewhat at a point in that it's single company providing those links.

[00:09:51] So if something did happen to their servers or to the company there those links would break. it's best if link and, or a alternative link with projects using that our weave is also mentioned, and I was surprised to see that our we is actually the preferred method for projects on Solana.

[00:10:08] That's. Surprising because it is a more secure from my my vantage point. Anyway So it's it's good. And there are some theory projects using it. I think we'll start to see more attention being paid to where these things are, are actually held at least perspective when people are looking at these projects, you know, we haven't fully experienced you know, a long. haven't seen a lot of these projects be around for a long run. Yet many of, most of them are under a year old. So it's still going to be a developing story. What happens as people lose interest in our move on to some of the on some of these projects and the bills go new project who dis the breakdown is interesting. Yeah. Are we've is definitely now kind of on my radar as a result of this, but for NFT, metadata storage for the top 100 Ethereum collections, they have this interesting pie roughly call it 50% are on IPFS. 40% are meaning that sort of, you know, got to pay the server.

[00:11:12] And 9% on chain and 3% are weave. And the R wave is like um, basically you pay at one time and they So That's like, all right, that

[00:11:22] generations anyway.

[00:11:23] yeah. But what happens after

[00:11:25] to like relax fella? Not your problem, right. those are dead people problems. Ethereum NFT media.

[00:11:32] So media is slightly different. A lot more people, it looks like 60% rely on IPFS and those top hundred collections for media storage 27% centralized, and our we've has 4% on chain, 9%. It's interesting to, you know, where, where are your wallets captain? And then they Do the breakdown by as you mentioned, Solana and polygon.

[00:11:52] So this is. I love this article. Actually. I love articles like this. I wish they actually looked at more than the top 100, but interesting data.

[00:11:59] Yeah, absolutely. All right. Well, let's move on. Let's say we do, we

[00:12:05] don't, have an affordable project for for you this week. Let's see. Do

[00:12:08] I, I was checking out one, I'll be honest and I ruled it out because the community had died a bit and it was affordable. it just make sense. I ruled it out also because I felt like it was a Dow that had a target to acquire a noun and they didn't achieve their goal. And it seems like when you don't achieve that goal, like it's like, it's a rallying point and it'd be great. and it's really wonderful. Let's go get the constitution. Let's go buy this like super expensive thing and make it our mascot. But like the is it's a very all or nothing type of vision and mission. And so that's. It's less so like, oh, aim for the moon land on the stars. it's like no, no, no. It's like you aim for the, moon Or you land on earth cratering down because the community says, we can't do So it's, you know, it's kind of just an interesting take away, but yeah, no affordable project. Quick note on past projects though, is peaceful battles have begun, peaceful that X, Y, Z.

[00:13:09] He's hilarious, double dragon style,

[00:13:11] graphic, a little fighters, you get three battles and it's really a fun game dynamic just to play it out a few, if you haven't been in there, you basically choose your attack style.

[00:13:21] You have a couple of days to choose it and you matched up

[00:13:24] against. And it's like this game theory the, you know, water to beat fire? Or do you think that they're going to choose something water? So therefore you should go with lumber. So there's a whole funny back and forth game

[00:13:36] dynamic going on.

[00:13:37] Fireplace on piece falls about

[00:13:39] 0.15 right now, I guess. So fun stuff. Interesting game dynamics. I'm all about the games. All right. Digital land and scarcity. You go labs, you go labs, other side,

[00:13:51] no scarcity, No scarcity. Well, I, I shouldn't say that. I mean, I shouldn't say that there's no scarcity, 200,000 plots as the plan or at least the rumors. And this is, I believe it was originally from the pitch deck that leaked back before other side video Oh leaked And was officially released thereafter.

[00:14:11] But anyway, the upkeep or the recently leaked information was that it would be praised ape. mentioned that staring at six, 600 ape, which is $9,000. So a hundred thousand plots then, and then another a hundred thousand plots coming in the summer is the rumor 200,000 plots is enormous.

[00:14:32] That's. That's a lot bigger than, I mean, when I was looking at it a hundred quite realize that there was another a hundred thousand coming, I was already thinking that a hundred thousand was, it was a really aggressive number they have a white list that includes many of The top and Ft collections. And I don't know that that is necessarily enough to get people to to go. thousand worth of these, especially at a three Eve price. You know, we did see moon birds do crazy numbers, you know, but that was a 10,000 piece collection minted at two and a half. And if the price has run up, but the, scarcity part is helpful.

[00:15:11] There, I don't it's, I think it's going to be a lot harder to see, to see a hundred thousand sellout and for that price to hold anywhere, right now I could be The my, my hesitation. Is it just that there, that first part is is so once people, once they have that, they know that there's still another hundred percent.

[00:15:33] Inventory coming. And I just, I don't know if that's going to take a lot more people coming into the space or especially into the, the UGA universe. And there's, you know, most people have had a good opportunity. I think there's a lot of people that have an attitude, like, like you've had that they've missed that train.

[00:15:50] Looking for the next thing, not necessarily looking to just get in at this late stage and try to hope that in the this bull run for UGA. Yeah, the metaverse hype in game certainly kicked off, right. It kicked off in the fall of 2021, Facebook famously renaming itself, Metta, you know, in the sort of peak of all peaks, the things that seem to be keeping the value when you're getting into digital real estate is scarcity. And as soon as you have, you know, just to just absurdly high volumes, especially out of the gate, then, you know, the risk is over saturating the market.

[00:16:30] And the problem is like when one part of the market goes at all does because of the way floors work, I believe they'll provide utility, but that is a very, very high starting point. And maybe maybe the bellwether that like Our idea of like owning property in the metaverse is like antiquated and frankly anachronistic simply because like, oh, I understand how property works. I have address for three whatever. and this spot you know, the idea of the metaverse Mr. Rogers neighborhood of places I can own mistaken ultimately. And it may be that, you know, you don't own the land, but you. your character, you own your network. We, we just, I think we have a weird fixed mindset just to go like a little high level I own this little plot and it's like valuable and I'll do whatever you want, but like in an earnest, I don't go on a

[00:17:21] different type of parallel.

[00:17:22] You know, I don't go on to Instagram to look at my own And my own little plot of digital. I look at other

[00:17:27] people's. I go there to see what

[00:17:29] other people are doing. I want to walk around digitally speaking. and see other stuff, and I'm less so

[00:17:35] about this like own owned piece of land. And I see other

[00:17:40] I see

[00:17:41] other projects beginning to take

[00:17:43] that tack.

[00:17:44] So I'm, wondering if this game dynamic is spent or is it still hold water?

[00:17:48] It probably still holds water, but I'd be shocked if that 200,000 goes

[00:17:54] for three E each Yeah. I mean, we'd be looking at It nearly a $2 billion raise. It'd be about, And so that would be. I mean, it would be unprecedented obviously. just, I don't think that there's enough liquidity in the NFT market or, or that, much sitting there ready to come in that they could do that, you know, and granted that's over, You know, that's, that's over So, you know, the idea, I be that one would go so well that it would, you know, for more interest in the You know, that being said, I don't know. I'm I'm, you know, I've seen how. As a crypto voxels holder, I've seen, you know, what has happened when land and it hasn't been good, you know, that has been largely, and I think that's been a effect to grip the voxels overall.

[00:18:38] It had a pretty, pretty good. And I feel like has largely been surpassed by other digital lands. You know and I think we're seeing that you know, maybe there isn't, you know, maybe there isn't as much value to those and maybe that's okay. You know, we've seen another bottle launch recently, this open metaverse project.

[00:18:58] Oh, M by punk 6 5, 2 9 pretty influential NFT Twitter person who has launched this, been working on it. It's pretty impressive. you can actually go in there. There's all sorts of buildings. There's a museum in there this expect United museum as a full level. Generative art most are, I think there's a generative art museum in the middle. it's, got another museum as well, but it's, a very different model Anyone at. this point can fill out a form to claim. I don't know if it's necessary to claim, but you basically can say that you want either a building a district different sizes. So depending on the size of your organization, you can go in and just say, you want to do with the land?

[00:19:40] They are taking this as very not scarce in giving this land away. So, you know, I think it's, it's that they are not going with, a scarce model and, it doesn't seem that you guys has much scarcity. Either. The net one is one of looking to charge once looking at. At the prices for a tube for $2 billion in sales. one is looking for people that are most interested in building things can, can see and use. interesting to your point of, you know, what do you want out of this? And know, I think when you've got an incentive, when you can build for free, you've got a lot to really, you better make it compelling for me to come in there.

[00:20:21] Right? There's not this this perceived value that is just sitting there, like look at my, look at my 60th. Plot that I am probably not doing much with, because I have six east to, to move around and, and put into these plots and probably own a few of them. You know, I think it's a very different So you know, know that that one is necessarily right. And UGA has definitely been aggressive about about pricing things recently. And they built that up by giving things away, but then it looks like they are trying to cash in on that trying to extract the maximum. Possible. They're really trying to extend the maximum value possible And, you know, I don't know that it tells you in your lifecycle. Another one to point out is the sandbox and, you know, the sandbox, we we actually had it as a, as a project. I will say we called it. that, was like a, you know, one that we actually did pretty well by, you know, the price, you know, frankly it ran up it was up there at like five eith. But currently it sits set a floor of one point. And it has steadily dropping month after month after month. You know, you could get but ultimately like it comes back to it's a map made up of 166,464 and growing the end growing part is sort of the inhibitor.

[00:21:44] Point here. right.

[00:21:46] Here's, you're looking at something that like, literally you have celebrities involved with built assets and dog, I mean, is, is in there. How much more, how

[00:21:54] much more do you need to know? truth is if you just

[00:21:57] keep printing the money machine,

[00:21:59] ironically, the thing that you know, all crypto

[00:22:01] is anti.

[00:22:02] If you keep the money

[00:22:04] machine, the land machine

[00:22:05] printing people will figure out the value pretty. Well, inevitably I won't say quickly, inevitably. So I dunno, I I think we we've thrown enough questions at building this way on, I don't know. I think I would feel different if the making It so that like you could.

[00:22:25] What's accessible though at 200,000 plots. I mean, if they did a third, if it was one I mean, I don't know. It'd have to be a, I mean, we'd be still talking it's too much.

[00:22:36] I don't know. I mean, maybe there is a me, you said, there's almost 200,000. I was surprised to hear what you just said.

[00:22:43] There's almost 200,000

[00:22:44] Yeah, a hundred and thirty six, a hundred and sixty six there only I don't understand how 9,000 listed on open. See, I

[00:22:50] think it's still in, like, they're talking about where they're going to

[00:22:53] end up and where they are releasing. In that cycle. So the cap.

[00:22:57] And then conversely NFT worlds have held because it is kept fixed at 10,000. However, I have not seen true utility come from NMT

[00:23:08] worlds, or the ability to cross and walk around worlds inside of there.

[00:23:12] But that's actually that, those one

[00:23:14] that climbed up and it's kind of held a little bit, it's come down off of its hot.

[00:23:18] So it might

[00:23:20] be that's sort of slow

[00:23:24] it will see. I have, I've seen some, some integrations with, on how much people are actually using these. I mean? we're seeing all over the place. The the, the peak of many of these NFTs seems to be the the lead up to these announcements, the, the news And the announcements of the actual product and the seems to not for the price of these projects, it seems like people are much more excited.

[00:23:52] Ahead of the release than they are things actually come to fruition. So it's interesting. I think that'll change at some point. Or at least does because I want to be excited. I want to be excited about what is actually here, as opposed to just hoping that the thing is even better. Yeah. could still hope that things are even better, but I think, you know what I mean? I don't think it's sustainable to just look at everything like it's going to be great. And then once it gets here, be everything. I think there are great things then some of these projects are delivering and we can't just look at this as like, well, that's it.

[00:24:25] Yeah. I mean, hype, the expectation meeting reality can, can be a tough one. One more I want to just throw park, which I think is a different play. Metaverse interaction, actually their drop wa was live in this, past

[00:24:39] week. So people that were

[00:24:41] in there know we talked about it got their, you know, free drop no

[00:24:45] minty into their wallets the other week. and that's more about curating ecosystem that is open, but it's the asset of the character that is imbued with that type of value, which is which is interesting. And sort of, is it metaverse land or metaverse identity?

[00:25:02] That is where you, you store your value.

[00:25:04] And so that's just like a and we're going to see a

[00:25:07] lot

[00:25:07] I think, a lot more

[00:25:08] exploration of what's possible. that metaphor has term I think is now evolving somewhat. I think a lot of people are coming to the idea that it's not necessarily this, these digital lands in. Much more of a kind of ecosystem that evolves in between NFTs and these digital lands and crypto. So you know there's a there's a few different ways that it's going to be, you know the people are, are, these companies to do it. I am. Very wary of projects that have huge caps on the project, regardless of projects are launching. I think it's think it's a lot healthier for the launch with a smaller demand and

[00:25:48] Hey, don't it look like a giant cash grab.

[00:25:51] I mean, honestly, even if they kept it to 48 and you know, ecosystem holders, when it bothered me as a non holder, I think that would do more for the value.

[00:26:02] I don't know that people from holders of, of, you know, of cats really is I don't know. I mean, I guess they're universe, but I don't know that it really does They still have other ways to get into it. I don't know. We'll see what happens. You know, there's different, different different tactics and it's certainly evolving.

[00:26:22] Take a look at the human park floor though. It's at 0.049. I'm on polygon. Gas lists and they're they're backed by the studios that did a Zed run. So it's kind of interesting, I will say cause this is the gen one that they put out there and so yes, there will be others. But these are officially gen ones that are, that are floating around out there.

[00:26:46] All right. Any, anything else to add?

[00:26:48] No, I think that's it. George.

[00:26:51] Alright, great topics. See out there. Good luck.

[00:26:54] tactics and it's certainly evolving.

[00:26:59] Take a look at the human park floor though. It's at 0.049. I'm on polygon. Gas lists and they're they're backed by the studios that did a Zed run. So it's kind of interesting, I will say cause this is the gen one that they put out there and so yes, there will be others. But these are officially gen ones that are, that are floating around out there.

[00:27:24] All right. Any, anything else to add?

[00:27:29] No, I think that's it. George.

[00:27:31] Alright, great topics. See out there. Good luck.

 

Read more

Have Utility NFTs Moonbirded? | Project: Vayner Sports Pass

Monday Apr 25, 2022

Monday Apr 25, 2022

Theme: Have Utility NFTs Peaked?

  • MoonBirds showed value of Utility NFTs as Proof floor >100, Moonbirds > 30
  • Speed up can be an indicator of speed down. Is this different?
  • New utility NFTs launching (PoolSuite, Quantum, VSP, MyBFF, MetaRelics, etc)
  • Monster projects seem to be coming up each 3 months 

Transcript

 

[00:00:00] Today on all about affordable NFTs. We're talking about the very unaffordable utility NFTs a little bit more into moon birds and the the larger

[00:00:54] ecosystem of again, how utility is really justifying valuations and valuations of, of these projects.

[00:01:04] What have

[00:01:05] we seen in the news?

[00:01:06] Yeah.

[00:01:08] Yeah, here we go. Got a few headlines here. rare. They got a new sort of marketing tactic out here where you can know. The looks token by listing your you know, it's, innovative, I guess it's not my favorite favorite marketplace. But they are certainly trying to move some more adoption to.

[00:01:32] That to their marketplace one way or another. are rewarding users by adding there. So I think I read That you need to do 10 or so to make it worthwhile, but if you do have and have some that you want to list, it is check out.

[00:01:48] Yeah. I mean, looks token are actually about 25% over the past seven days, which kind of nice

[00:01:55] Right. I believe around $2 or so

[00:01:57] right now.

[00:01:57] Yeah, I got up there. I got up there. Cool. All right. So I guess another token news we've got Abe coin, which they believe last I looked was up over $15. It 30% in about one day. And that was after news leaked out. That UGA labs was planning to do their other side land sale or to hold that sale in the. Ape token rumors are, that's going to start at 600 ape, which would be w had $15 would be around 9,000.

[00:02:33] So a little bit over three eat at these, at these priorities, sorry, around three, that these prices. So that's sounds like an aggressive price. When you consider that this first land sale will have thousand pieces and they plan a second land sale for hundred

[00:02:50] Sorry, you said a hundred 200,000

[00:02:54] 200,000. Okay.

[00:02:56] So I don't, you know, that's a lot,

[00:02:58] I'm sorry. 200,000 things priced at three east. Yeah. So that would be 600, you know, if that's real, that's about ether, which would be over what over. Yeah. Oh, that's $1.8 billion or so, so I can't imagine they can really take that in. I would think that I, you know, I've heard also that it could be Dutch auction of, I don't understand how the Dutch auction or worth of work with I don't know. It'll it's, it's interesting. You know, I don't know. If it's too aggressive of a swing, certainly sounds like it may be. But they are going for it. Anyway, and so far people are buying the token in anticipation of that. We'll see closer to the launch. These are All rumors So far the actual mechanics you know, haven't been announced for that land sale.

[00:03:42] Although so far, a lot of these rumors that have leaked out of UGA have proven to be

[00:03:47] accurate.

[00:03:49] Yeah, I'm just looking 14 days. Roughly speaking, it's up 35%, but literally as we're talking over the past 24 hours, it's dropped 16%. So this thing is, this thing is getting wild, right? It's going up and I don't own any aid.

[00:04:04] I will say prior. I do own looks

[00:04:06] and I know that you own

[00:04:07] eight and looks right.

[00:04:10] I do not

[00:04:10] own looks anymore. Now I have a little bit of ape. Yeah. All right. So next

[00:04:17] I just like really quick, like on the eighth thing, like I said this in the discord, but like, I'm like, I missed the train. I missed the train and anytime I find myself trying to throw my baggage car, as it pulls out of the station, like I make a mistake. I buy it. So I am firmly of the belief that like I missed it. That's fine. I, I might keep an eye on the but I'm nervous about those numbers. Maybe we'll do about land perhaps.

[00:04:43] Alright, perhaps. All right, what else we get for headlines here? we've got a rate Georgia. You've invited to a castle, a Scottish going on.

[00:04:56] Andrew, I'm going to have to have a whole new, a whole friends, because artists, Trevor Jones announces that NFT holders get to So Trevor Jones is an you know he's done a number Bitcoin angel and you know, this is an interesting project, one of the like

[00:05:13] tying to Integration to the reaches 7, 7, 7, 7, 7 of giveaway. However, this is

[00:05:21] really funny. Sterling castle in an invite only, I I don't think I'll be able to make it. It's nice to get. Usually it's just nice to be invited to a castle.

[00:05:32] I mean, I, I wouldn't see a few. You can just swing by, you know,

[00:05:37] I don't know. Maybe I

[00:05:38] can do it. I've got to talk to you a wife and see if she'll no, no, I think I know the answer to this already. Yeah,

[00:05:46] I got an extra I have to, I can give you one if you want to come with. right. Well, we'll see what happens there. I think that we'll see you when you make it over to the party. Sounds like anyway, moving on. Let's see what else we've got here. We've got this one and this one's good. so we've got the Ajax football team soccer team. We're caught like or trading on some civil rare and FTEs. had found out.

[00:06:13] that they were going to switch the starting keeper. starting keepers NFTs, bought the back. Before the news went public, of course, people have figured this out. They've got public accounts. So you know, fans and others quickly figured out what happened here. So, so far they're saying not, it's technically not.

[00:06:33] Regulated by commission. Although I imagine that that one's not going to hold up so well with their, with their league. I don't know about the the financial implications remember what you do on the blockchain can be seen could see the time. So even if it's not known right at the Yeah. I mean, clearly if it were a stock, that is

[00:06:58] something that is frowned upon by the And in general a public market in any ways. He's a big no-no, it's just dumb. Like, what are you doing? Don't do that. But it's the beginning of the complexities of when NFT marketplaces that offer liquidity to you know, players, trading cards and pieces that impacted, like, I wonder what would have happened if those were sports cars and instead they dumped them on eBay.

[00:07:26] I don't think anybody would look two ways about it. But because it's on the chain, it's with your name doing this and people will find out.

[00:07:35] That's true. Yes. You know, her too hard to complete that information when it's on the

[00:07:42] speaking of sports smooth transition here, look at me.

[00:07:46] Speaking of sports, the Vayner sports pass, you're bringing this to us. I have heard about it. We talked about it. This was AAJ Vaynerchuk, Gary Vaynerchuks brother, this was the notorious

[00:08:01] and infamous now uh, Supermint price where the cost of minty.

[00:08:07] Far exceeded the actual amount that was paid for the actual project. So do you want to talk us

[00:08:14] through the Vayner sports pass and why you see it as an

[00:08:16] opportunity? now. , So this is now it's the collection is now sitting at about a point for a floor. I believe gun back and forth a little bit under that. We. you know, has, as we talked about, this caused a quite the waste of gas when launch and has certainly helped to keep the full floor down.

[00:08:40] I think, you know, it got a lot of negative attention when it launched. So I think in some ways that is good as a, you someone at the collection now. We talked about at first, it is by AIJ banner who is Gary Vaynerchuk. Brother I don't know, a ton about his, ex his past.

[00:09:01] I know he's been some of guarantees projects in the past. believe, you know, I have to think that he's going to use a lot of his connections that he felt with with Gary over the years to to help promote they do have a, they've announced that they have a roadmap coming this But hopefully it is more than some of the roadmaps we've seen where they are quickly maybe a Google doc and published. That's this is my hope that it's done in a much more, professional manner. They have announced some partnerships with athletes in the NMA area. I've not terribly familiar with MMA.

[00:09:35] So I don't know, sort of the level of notoriety these athletes at this point. So these keys themselves are. There are various icons on various backgrounds and colors for the part or the basic ones. There's, not much difference among those.

[00:09:54] From what I can tell, I don't there's much different in what they give you in terms of access. There are a few levels of these. So when you're looking at see that there are so. Let's see different, there are different colors that do have a more, that are more rare than others. So you see different levels. Once you get, let's see into like the gold, those jump up a bit. Let's see. The green actually. Let's eight aren't much above floor. Again, I if there's something to that color I have to think that there will be certain certain levels of access with different tier cards on here.

[00:10:33] But I think it is you know, it's at an affordable price now let's see. Point three, nine, five as we speak. I've been watching it, do not have any yet. And I don't think you have any at this port point either, right? George.

[00:10:46] I don't, but like my macro piece on this you know, from podcasts I've been listening to. Including overpriced JPEGs and people that have worked firsthand with ADV Vaynerchuk, the guy is sharp. The way that this was coded on chain was done intentionally. So the, the bad byproduct was the cost of gas and sort of getting this out there.

[00:11:08] But it was in favor of a long-term technical decision. So far. What I know of the Vaynerchuk brand is succeed and is tied to the whole. And that they're

[00:11:20] very, very deep into these sports

[00:11:22] media. and what's more the sort of the

[00:11:26] Vayner VaynerMedia And the marketing therapy works with a lot,

[00:11:31] As you

[00:11:31] mentioned, sports teams and has a lot of access, and they're becoming frankly, the leaders

[00:11:38] in crypto consulting and NFT consulting. and I dunno, you combine those things for me. And I think.

[00:11:44] It's very clear that

[00:11:47] this probably pays back with drops alone. And the other reason of sort of like why now because that was one of the worst drops I have

[00:11:54] seen ever, and I think

[00:11:58] it's still holding at a price,

[00:12:00] It would have killed a lot of projects and I think

[00:12:03] in the water. You kidding me?

[00:12:04] and I think it's really, I think it's, it's, it's great that it hasn't killed this one. and I also would have been surprised if it actually did because you know, Vayner name, they don't, they don't take it lightly when they put it out there.

[00:12:16] As you said, You know, I think it's, it's interesting to think about how they think it's all part of the the whole, and you know, one bad project is going to you know, make it a lot harder for them to continue going. They've been in this space, you know, for a long time. You know, at least as, as long as you can be in it it's not like some of these other names that are coming in getting involved and then launching a project, you know, within AIJ has been in the space, you know, has definitely been around and with both Gary and Vonda own, in the space.

[00:12:49] So, you know, that makes me more positive in thinking that they're to continue on this project. I also think that there's a very. A very strong likelihood that a lot more young athletes begin to get into NFTs and Vayner sports has a big leg up on the competition. When it comes to getting involved with getting those, athletes, athletes involved with them, they are already here.

[00:13:13] They're web three native, and I look at that and look at this as one of the leading brands.

[00:13:20] Yeah. just to make this even more complicated in addition to the card type which has escalating at that peak looking at diamond, in addition to

[00:13:29] that it looks like there. are icons on them about each one, has like a couple of icons and

[00:13:35] each one is associated with things like e-sports golf, football, So.

[00:13:41] do actually have. Value to that. Are there, are there, are there like that's, I didn't believe that there were, there was anything to

[00:13:49] those, but I wouldn't

[00:13:50] This one has a baseball ache. Just one. So some have one. Okay.

[00:13:57] Yeah, I don't know exactly if there is something to, you know, if there's actually a valued, tied to what is shown on the card or not. You know, so it may be worth looking into a little bit more. I haven't found anything about that at this point, if you do find something or we find something we'll of course discuss that in the discord.

[00:14:16] So hop in there. If you are looking to get into this one, and hopefully we have discovered a little bit more, we can share

[00:14:21] there.

[00:14:22] Yeah it's, it's worth looking at. And I, And I like the why now, And also getting back, you know, to what we're gonna be talking of main utilities and new moon birds, watch this smooth transition. I think when you have a project like moon, birds come in and literally move the entire market. and when I say move the market like crypto slam for the past seven, Shows a hundred percent increase. and guess what? 375 million of that came from moon The next highest is, mutiny at 68 9, which all these numbers are absurd. So when I see that, oh, I, you know, I know I'm frustrated about missing the boat few weeks, which is. actually a lot, I'm missing a boat on, on moon birds, but the opportunity is that.

[00:15:09] These other projects some of these like high value, you,

[00:15:12] know, projects are out there and have an opportunity kind of some value. Right. And that's what we're, we're trying to do here. Find something affordable and all right, Andrew, let's talk about, and FTS. We just talked about members.

[00:15:29] They showed the value of utility NFTs. Can you just explain, like we're throwing around utility? What the heck the actually get if you have like a moon bird, what is, how has utility. defined.

[00:15:41] I mean, that's a good question for me. What the utility of the moon bird is. It seems to me that the proof pass was more of the utility They created this moon bird collection approved pass gives you, gave you access to mint, one of the moon birds. You know, I guess, how would you ex how do you think, do you consider the moon bird project, a utility still?

[00:16:02] Or do you, or, or is that just a PFP project?

[00:16:07] it is definitely utility And that you get access to a certain type of discord. Right? I know that you're going to be able to hang out in discord room. Kevin Rose. Cool. you're going to probably be surrounded by a lot of whales and people. Influential or at an absurd amount of money, for these things.

[00:16:25] And I believe that there's going to be continued utility. They talk about what is it like towers or elements that they're going to be developing. And the way that I see the utility is like yeah, you get access to this discord. Yeah. future drops as people tripping over themselves.

[00:16:40] You know, do the next partnership and drop and you'll get

[00:16:44] to two of them. And, you know, you'll probably have like an art blocks effect where, you know, it'll have the sort of shiny gloss of something exciting. And then the other part of it is you're kind that this is going to be the next Hugo labs because of hype and potential of a at this point. Like for that much money, you're like essentially a

[00:17:05] seed investor in a company. that's kind of guess what I'm looking at. When I looked at the utility there and I was like at play ball.

[00:17:16] Yeah. think we're we're sort of getting started with, with these utility NFTs. You know, we've talked about Vayner sports, you know, that's at a pretty low price, you know, I think there's not, we haven't seen what that is seeing up.

[00:17:30] Quantum art the Photography platform by Justin Arsano. They've released a quantum pass recently. I see that six or seven eat now. And access to future drops. We seen some others pool suite is one they've been operating as kind of a, I don't know what you'd call them, but an agency of sorts doing pool sweet they've recently done a NFT project, That again, is going to give access to things. I think we're going to see a lot more of these especially with I don't mention this before, but when people start looking at the, the amount that was raised by moon birds, so quickly 78 million, and have, you know, have. The credibility of people like Kevin that are looking at that and starting to make plans right now. So I don't think that I don't think they we're even close to seeing utility in FTS peak yet. I think we're, we've an immense demand. And I think everyone's trying to maybe spin their project, the mold of a utility and Ft.

[00:18:41] Now, you know, it's going to be, I think we need. To start thinking about, you know, how to actually at what a utility, what utility really means to an NFT, because it's going to be a term that every project uses now.

[00:18:57] Oh, yeah, for sure. I mean, they were using it before, but this is just to look at this. It blew away. Even my high-end expectation of like price tracking and what I thought would actually happen when a bunch of frankly, random you know, two things that they had bought and it just, it was incredible.

[00:19:19] And so I, I also agree, I don't think utility utility is peaked, but I thought it'd make a good subject title. So I toss it in the top. And the reason ties into, I think you're selling in part belonging, tied to financial website, and both of, those things are quite powerful in and of themselves.

[00:19:38] But what I mean by belonging is the same. Dynamics that happen on Sunday in a church, in your neighborhood where people show up into the same room in the same way and say the same with the ability to feel like you

[00:19:53] belong to a group is in large part. What I think I see the value of a utility when you talk it about

[00:20:02] as like, all right, we have access to this discord.

[00:20:04] Oh, I'm going to be able to socially identify as this, you know, group of people. Capture some part of my identity and you know, there's very much value in that utility There's a reason why people signal with,

[00:20:18] you know, $60,000 Rolex watches, because they want

[00:20:21] to show off that they have been club.

[00:20:25] I am successful because I have this thing, so that's not going away. So it's not peaked. It's very much endemic to

[00:20:30] our

[00:20:31] Yeah. So I had argued that that part The value for the sake of having it be high value. Isn't that more of a PFP sort of aspect to a, a, collection than a utility. And if key, I mean I don't know nobody who, people, at least weren't calling board apes and, utility and Ft.

[00:20:52] Although they've proven to be that if you've held the I've given away all these things, but, you know, initially it was more like, well, you're around these other people that want to hold this thing that is absurdly you know, I think in that regard, but you can always say that as long as private discord and it's a high for praise there's, you know, It's a there is some.

[00:21:14] Utility to it and that It's keeping out people that can't afford that if that is not saying that that is what you're you know, I'd say, I'd say that these, the moon birds is certainly prompt. You know, they're already talking about adding more to this. dates And and have to do this, at the time.

[00:21:28] And I don't think that it would have meant much to people to say, to promise all these things, you know, nobody knew that that were going to hold any value. Now people have seen that play. kind of explicitly saying we're going to continue to build they've even they've hinted at tokens. all out there. So I think there's a, it's much more known that these are going to not just be a highly valued collection or not. And I can't say collection. It's not just seeing it's a highly valued collection. It's also that they will.

[00:21:58] Give holders more value or at least more assets, you they'll have to prove. But they're going to give them more assets. They're going to continue to build. And they're going to put, put effort into this, that a lot of projects maybe have promised and have yet to deliver on.

[00:22:14] So your original interesting and I can take the extreme that a position that all PFP projects and all NFTs have a promise of. I could put them on a utility spectrum. Right. I bought a one-on-one piece of art and the utility I get is it's beautiful. I like looking at it you can say, I get access to a discord. I have, you know, an extra that I can own and I can, I have all of the rights to so I can put it on a t-shirt And a mug. So I think the, question is what is the versus what is the actual utility you get? you know, You're seeing now it's more about execution and trust. I'd say there's no longer a, a new clever, like, and by the way, in our roadmap, we're going to have sparkles.

[00:23:05] I think the, the magic of the are kind of fading away. And coming back to what happens here is it is trust in the founders. And you know, he's built up this community of people that listen to his podcast. that like this is, you know, the guy

[00:23:19] behind dig knows how to build things.

[00:23:21] And then, you know, the, that vision, you know, getting behind that vision and believing it is, is you, you're just acting like a seed investor. More so baked, into there somewhere. five spot. There's a new competitor, right? Like this time you, the labs didn't freaking exist. Like hold that in your mind for a second, And punks were like dominant.

[00:23:45] Leave. They were out at this point, but it was right. they were just in their infancy. Believe it was around.

[00:23:52] I could be

[00:23:53] Let's look it up. I'm kind of saying they hadn't launched yet and you're saying they have, okay. See, 30th is the first

[00:24:14] day I saw.

[00:24:16] All right. So about a year

[00:24:17] ago,

[00:24:18] I'm a mirror almost on the universe. Like when this comes out, this will be so, so about that for a second, right? Like time, suddenly this like massive company

[00:24:26] starts you know, it didn't take off until a couple

[00:24:29] months after the project, then you have something like a Zuki, which launched like massively in,

[00:24:35] I think you know, Q3, whatever it was.

[00:24:37] Have to get the

[00:24:39] memory of a

[00:24:39] Right. I mean, I think we've seen a lot. I mean, I think even going back further unit. Two a year ago This is in 2021. It, you could even look at it. If, if you want the market was there was nothing going on And it would, it's amazing to think then you the labs launched their project. And it people into it.

[00:25:00] We saw art blocks going it was kind of leading up to that. It wasn't until the summer that it really went crazy, that has certainly died down, but then started really noticing the UGA labs success or bird ape success. And I, you know, I think it spurred a lot of. Copycat projects you know, just some other animal project that you know, we're promising the same things and people have, over time kind of maybe realize that it's not a matter of just a ton of different projects of the same of the same ilk. you know, you need different projects. And I think that's what we're seeing here with, You know, with proofs and with with moon birds, even with the quantum different projects lead of categories and. become the project to to, to sort of dominate that category.

[00:25:50] And we don't necessarily, we're not going to see said we're not going to see maybe, you know, a hundred different projects that are successful with that same model. You'll see a few different ones, but they're going to need this. have something different to them. And I don't just mean the animal that they're using.

[00:26:03] You know, I think we've, we're seeing, we're seeing board aid to be very successful, what they do. You know, obviously you see move birds right young project. We don't know, you know, I don't want to, you know, I don't want to say. Overstate what they done at this point. You know, I think that come back down to a a level below that 38th floor and still be as quite successful.

[00:26:25] But, you know, it's hard to say the long long-term success, but I, I think it is, you know, it's interesting to think, you know, as, you know, getting back to what you were saying, like how we've seen different projects, take the lead and. Yeah, I guess, you know, another one is at a Zuki and seeing more of the sort of into this.

[00:26:40] I think that was a big entrance and we do see a few projects, but it's not like it's completely shifts the market. And I think we're starting to see that a bit that the best projects from these different, continuing to

[00:26:50] shine through.

[00:26:52] Yeah, another one I was going to call out was artifact And when they, when they dropped but it's like it's like every three months. it seems like, there is just this sort of like,

[00:27:02] Huge

[00:27:03] setting,

[00:27:03] launch. What I'm also noticing is different than board apes, which frankly sat at a 0.5 E floor for like a months. is that these newer ones, right? the ones I just went through, like every three months, we're getting these new big. There they're up. into the right almost day one. you have to take really uncomfortable levels of risks to get in on these, on these hype cycles. Right? Like we looked

[00:27:33] at artifact and we talked about it as affordable project.

[00:27:35] We were like, oh, Nope, sorry, psych your

[00:27:37] mind. and like Zuki went from zero to 60 immediately

[00:27:40] within a matter of like days and hours, not months. So like, clearly we just talked about what happened with boomers. So these new large

[00:27:47] projects. In my mind

[00:27:49] prior was this idea that like, oh, there's like very treasure around.

[00:27:52] One of

[00:27:53] these is going to take off. And that the truth seems to be more like there's going to be something that is absurdly hype that comes up. And the question on something

[00:28:04] So massive size bet. I would say we have to start thinking about this a little bit more. They are it's big bets. They are big sized bets. But I think what is interesting to notice, these are some of the most hight and they're succeeding. So you know, in, in the sense of the risks, Reward as risky as risky in the terms of it's going to go to down, you know, at least if you can get in at the very early part, you know, now at 30th, obviously I think that can that can go down 50%. Pretty easily, you know, at, at that 80th floor, when you see the volume that had, it's a you know, in you know, I'm thinking about that And that's not, it it's, it's hard to think that it D volume was Oakland to all of a sudden disappear to the point that the floor would printed 80 is a lot of ease to get into that part is challenging. You know, it it's but I am starting to see that the big projects, it's not exactly these, these diamonds in the rough they are, well-known, everybody's talking about them. And if you can get into them, even, you know, at the, the inflated floor, the initial floor price of them, they've been.

[00:29:20] Extremely good investments. And especially compared to kind of trying to find the, the follow on projects that, that launch hopes of, you know getting some of the, you know, getting some of the success of those bigger name projects.

[00:29:39] Yeah, I, I, guess, you know, kinda, still, I'm still like frustrated by like the fact that like, even if you see the next one coming, the, the level of risk you have to be in it is like pretty darn high. and you know, I think coming back to like, what we're doing here are the look at things like.

[00:29:57] I'm not giving up on that I think there's a lot of fun to looking at, you know, pieces that won't make the top 10 and that's fine, but you, know, things that, by the way, still can like provide value and like give access still very much part of this Coinbase

[00:30:14] bringing in the NFT market. And I'm hoping that brings more life to the middle market. Because look, we're, we're dealing in a market and we're like suddenly looking at

[00:30:23] Lamborghinis and we're like, we don't drive fricking things. Like I drive a, you know, a cheap, a cheap plugin. I want to that's fuel efficient. it's just, it seems like we're being asked to look at markets that outside of our size range. In general,

[00:30:39] you know, if you, if you talk about

[00:30:40] what's. Appealing to you know, it's just a disturbing show of money being thrown around at a I'm still doing it. I'll still look for affordable projects. They're out

[00:30:54] there.

[00:30:55] Yeah. I mean, yeah. I mean, I think there's affordable projects. It's I, I'm, I'm more wary of, of, of thinking that the market will follow a leading project rather than just that leading project becoming the sort of category filler. And then moving to sort of, what's going to be the next innovative project that that does something different to define.

[00:31:17] A project rather than just a lead or follow along with the trend.

[00:31:24] Yeah. Well, I mean, what's interesting is that every quarter Massive run-up because one, the Capitol is going to look for another place go with it and throw, throw around.

[00:31:34] And there are so many talented founders, leaders, developers, companies that have not

[00:31:40] even touched this space yet. And you know, they're coming and there's going to be

[00:31:45] opportunities in there. And know, that. that, that is exciting. So I'll, I'll get over my I'll get over my phone.

[00:31:52] Eventually and look at, look to project, but man, I don't know, Maybe next time

[00:31:58] I, when I, have that high conviction, just, you know, it up and just say like, all right, should I do this? and maybe I'll just trick you into splitting it with me.

[00:32:09] All right. Yeah, we've got, I mean, it isn't, these are great wins. If you do win

[00:32:12] the the raffles and those

[00:32:13] course, I did respect that they did the raffle. that was very

[00:32:17] they did, gas. And obviously there were some big winners there. So, you know, I'm a happy for the people that were able to spend the two and a half Yves and now are sitting on a 30 each asset.

[00:32:25] So that is that you know, that. Didn't have a lot going into that. We're able now, Ooh, that's a big, that's a big win. So hopefully there are a lot of people that really appreciate that and you know, whether they take it or not you know, that's you know, that's a tough choice, but

[00:32:42] yeah.

[00:32:43] Good one to have,

[00:32:44] Yeah, I had one more note just to call out here is that I get I'm always concerned about the speed and time with which something runs up as and time it takes to run down things that burn fast burn out. so there's, of this coin for sure. And those founders know it though.

[00:33:02] I know is very, very savvy in terms of building tech tools And user engagement. As you know, as far as dig your window to execute is, is very

[00:33:12] narrow, I would say. And

[00:33:14] also the risk of saying like, you know, it took, you know, three, it took one week to get like 36 ease. Okay. I'm much more comfortable if that's like it took three years to get to this point.

[00:33:25] Like that's a, sturdier base with people that have been sort of like holding in a competency And tested. You know, the board ape apes and moon birds right now is, is really not a fair at all. But those prices, I imagine, like their minds, they're like, oh yeah, this is like going to be a blue chip stock. Oh yeah. Bloomberg's is blue chip now. And you're like, because prince.

[00:33:48] Yeah, I'm sure there are already people putting that in there. And I think price is a dangerous indicator of it being or dangerous sole indicator of something being blue chip. You know, there is a, there is definitely a concern that it. could come down relatively quick. We have seen it in the in the past, not saying it's going to happen.

[00:34:06] And I think that. Nesting slash staking mechanism will help some with with a sudden flood of, of listings. You know, that being said, you know, things, things can change in in very quickly and, and FTS.

[00:34:25] All right. That's what we got. Hopefully that was helpful. In summary, utility NFTs have not peaked. All utilities have NFD. All, all utilities have NFT, you know, NFTs have utility.

[00:34:37] One of those is maybe true, possibly true, but one, well, we'll let you think about it.\

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Coinbase NFT - Let’s speculate! | Project: FewoWorld: Paint

Sunday Apr 24, 2022

Sunday Apr 24, 2022

Coinbase NFT

Rough Transcript

[00:00:00] Today on all about affordable NFTs. We finally get to talk about Coinbase NFT time. It is time to speculate. I'm so excited. Your mic is not on. All right. Well, we have been talking about it. We already, I feel like, and now we finally get to to talk about it with a little more substance, but we're in based NFD has launched and at least in beta, what does it all mean?

[00:00:29] Basil? What does it actually mean? It's launched. That means we can all get access, right? Andrew, like we can log in right now and start using it, right? Not exactly. Yeah. I'm not clear how many people actually have access to this.

[00:00:39] Small as a hundred people, which may be ridiculous if it's that, then they really got to clean up the spam. They can literally just point out. Who's stop it. Stop it, John. You're the only John on the platform. Stop it. Well, anyway, I think that it's obviously big news and it came on on April 20th.

[00:01:01] You know, on a date that there are many other I dunno, and Ft, shenanigans launching all sorts of projects themed for the day. And I'm not sure why Coinbase did it that day, but they did seem to wait maybe for the you know, I'm sure they were doing some regulatory issues, the official, why they had to use that date, but, well, no I'm saying I'm sure there were some things going on behind the scenes.

[00:01:26] And then you do wonder if maybe their crypto experience led them. Launching that post NF, I mean, post a us tax deadline time. I mean, they do know how that tends to affect the crypto markets. Yeah, that's right. I mean, frankly, it didn't obviously moves a lot of money around. It usually causes a lot of sell-offs in equities and that probably extends to NFT markets as well.

[00:01:50] So like we're finally through this. Terrifying annoying, wait and see tax time. So maybe this is like kicking off a, a new start, but we'll get to some more of like the speculation on what we can tell. Cause neither one of us have an account. The other big thing that happened in the last week and we were talking about it.

[00:02:07] Oh man. This was the inverts moon, birds. We thought it would be big, right? We thought it would be big and somehow it was bigger. So I'm just going to like this is a Kevin Rose project coming out of the proof collective and proof podcast. And, you know, there's you know, it's a utility it's utility token gives you access and they're going to build them.

[00:02:31] It's. It's copy paste a roadmap. Like we'll have a metaverse we'll have a thing, except it's being done by somebody who was the founder of big who's used to executing. Who's built up an audience of whales. So it's, it's ridiculous. Can you give us some numbers? Cause I'm just using abstract. Can you put it in context?

[00:02:48] In terms of how big this launch was? Right. So I guess we should start by saying this minted. Two and a half Eve. And it was a, I think we mentioned this previously, but it was a raffle, only a white list. So I don't know how many entrance they had, but you know, if you were on that, it was like winning a lottery spot because they immediately were going for 80 or so I think nine Eve by the w.

[00:03:12] Lowest for that I saw. And at that point I I thought that maybe that was a little overvalued and thought I would have a chance to get in at a lower price and they just kept on climbing. They've done. Let's see, the first four days they set a new open, see record. 240 million traded. The initial, it should say the initial sale brought in about 78 million directly.

[00:03:36] So that's that's certainly going to get the attention of other other people with maybe the following or network that someone like Kevin Rose has and the experience that he needs, someone like that has. I'm sure they will look at that 78 million. In you know, a matter in a very short period of time, you know, as, as we know that there was a lot of buildup to that.

[00:03:55] But that is an impressive Mount. And now they've got 240 million traded. They are taking, and I believe, I believe it's a seven and a half percent cut of the of the, of each sale there. So I thought they were. Oh, I believe it's seven and a half. Let's see. So I could be wrong, but let's say that, you know, even at the so I guess we're at about 18 million, they've taken in at seven and a half percent on that 240 million.

[00:04:23] Although I believe that I've looked at a number just recently and it's, they've done a good number, a good number more than that. I believe it's up over maybe 400. 15 million now versus five days. So we're talking about crazy numbers. It's, I don't know. It's, it's done much more than I anticipated, as I said, you know, I do feel like that train has left the boat at this PO but the boat left the station at this point for me.

[00:04:51] And I missed that one. Unfortunately, you know, but I do think. You know, it's hard, it's hard to, hard to surmise that this won't influence a lot of other people to launch projects like this. I can't imagine that many will come even close to the success of this project, but you know, you can, there's a lot of wiggle room in there to do quite well without getting to a 30th floor.

[00:05:12] Yeah, look, we're going to dive into a lot of the implications of this. You know, we were, we were both sort of like we had parked some ease and I think we both have a, I had a reservation price. I'll say my reservation price was five eighth. Had those things gotten to five eith I would have pulled the trigger and it was, I just feel so frustrated that I was like, I knew it was coming.

[00:05:34] I knew it was going to be big. I knew it would be a worthwhile investment, but I like looking at it. I can't be angry for no. Blindly pulling the trigger at eight E like, I can't, I can afford it, but like that's, we're talking about a massive investment in a startup company, right. In essence, that is been around for a year.

[00:05:55] Like the proof collective has been around for you. We can get into it. But I dunno, I was frustrated because I really wanted to get one. I felt like I had followed the project prior. I knew about doesn't matter. It really doesn't matter. So, yeah, that train left and. I I'll just be S I'll save it for the next episode.

[00:06:13] I'll save it for next episode. Well, it's a, yeah, it's impressive. So yeah, we will have to talk about that some more, get into that with what this means, you know, there's a lot going on still. You know, at this point we've just seen that floor climb and of course, we'll keep, keep watching where it goes, because I think it does have a lot of implications for the NMT marketplace.

[00:06:32] You know, or they'd have to market as a whole moving forward. Small one here, the sandbox years up to raise 400 million at a 4 billion valuation. It's really strikes me as a lot of money. Yeah. I mean, I I'm gearing up for that too. Does this mean they have someone ready to, to give them that money?

[00:06:51] I mean, that, that is a, that's a big valuation. I feel like it's a sandbox has been somewhat overlooked. Recently it seems alphabet with NFP world sort of taking over that. Voxel, like building in the don't know, with sort of a gaming aspect to it, but but clearly their wealth, they're still at least attempting to get 400 million.

[00:07:11] That would be a, an impressive raise. Okay. Yeah. All right. I say we jump into an affordable project. You found us something interesting. I'm excited. I know nothing about this thing and I hope you don't pre. Well, we'll see, I hope you don't get me to buy another thing, but right now, just full disclosure, I don't own any of these things.

[00:07:30] Do you own any of these fellowships? I do. Yeah. So this is so it's called fuel world. It's fuel paint drops. A few OSHA's is a young NFTE artist. Believe he got started in an FTR last year, 17 years old 18 now does a lot of, I mean, he does a lot of paintings including in real life painting projects where people can even kind of participate in some of the paintings, but very influential artist.

[00:07:58] I think he's in. That we'll we'll sort of help. We'll help bring a lot of people into the space. He's got quite a following and as an artist really seems to influence people to want to want to interact with the pieces. So. Does paint drop was actually a nifty gateway, which I'm sure Georgia, you know, won't like but it was a, let's see, it was an open edition originally.

[00:08:22] And each paint drop was 1000 was $1,000. There are paint drops that, so there's paint dry. That are multiple drops within them. So if somebody had bought maybe three at the at the nifty gateway auction, they were then minted into a single NFT that then contains three paint drops. So if you look at the collection, you'll see different paint, drop sizes.

[00:08:48] Most of them are, are of course, just one single paint drop the total collections about 7,300 pieces. So that includes all of the different Large, a larger size paint drops that were amended in the NFT PR in the original open edition collection. Excuse me. So the, they are going to be part of a fuel world.

[00:09:10] There's not a ton of details on what that exactly means at this point. But they, the, the paint and the amount of pink in your drop will sort of be, will this determine how valuable it is within the world can be redeemed for different Different things within the world. He does a lot of clothing has had a lot of like shoes done.

[00:09:30] Some drops with artifact, a company we've mentioned the past and it's now owned by Nike. So I would imagine there'll be some opportunities to. Redeem for different pieces maybe to combine these pieces. So I think this is a longer term, hold the floors around 0.4 eith right now, which let's see today's traces.

[00:09:54] Let's see how much that is over the over the original mid price. What do we got here? So, yeah, we're just a little bit. It looks like 1300 or so. So it's a little bit over the floor. I've seen some, some people buying them in bigger batches, but, you know, I think he can be patient and be able to pick them up for not much over the mid price.

[00:10:13] And I think it is one that would be a longer-term hold good to get exposure to a young artist. And I think it'll be an interesting project. The future world. You know, whatever that is launched, you know, have to stay abreast of the, the infer, their info there, but could be interesting to see what he does with that.

[00:10:29] Yeah. It seems like there's also an access element to this as well. If you go to that site, fuel world, that IO. So this is like is their first generative and it's definitely like talking about. You know, giving access to future potential drops unlock things and fewer world, including canvas and fuels.

[00:10:51] So like definitely not just a PFP, how it say ER, it looks kind of cool and yeah, I mean betting on young artists and, you know, sort of first community level. Is interesting little pricey for, for affordable. And I always like you, you joked, you're like, oh boy, it's from nifty gateway. Like yes, nifty gateway, ha I have some issues with it.

[00:11:15] But it's great for on-ramping. It is great for pulling in new artists. And also recently I realized, I didn't know this before that they actually found. Like they convinced people to do. And I did not, I did not know that actually that's so they've they've certainly brought that that's certainly a win for the NMT industry in general.

[00:11:36] I mean, it's hard to imagine that that everything that has happened this past year would have happened without people's. With, I don't know, let me say, I mean, not certain things would have happened. He certainly helped bring a lot of attention to the industry and a lot more money into it. Correct. I think he accelerated the sort of Christie's level game for sure.

[00:11:56] Which then sort of imbued the rest of the artists capital a, that we're working for a long time originally in the medium, also that lift. So again I, I will say. Just to come back to the statement though, when I look at a piece that I saw an open edition mint on nifty, it means it's saturated the market of people that value the thing at X price.

[00:12:20] And we've even seen that with our own holdings in our X copy pieces, which are like oscillating above and below mid price right now. And that's fine. So that is just stuck firmly in the back of my mind of like, this was an open edition. Probably for 10 minutes and it's saturated the market. Now the floor does seem to be holding in and around this point here.

[00:12:42] So like that post, like, it looks like it dropped on on April six and it did have a little peak trough kind of game there. So take a look at it and remember like go back and listen to one of our thin versus thick floors on this. But this is. It's relatively one other note I would look at if I were to get it.

[00:13:03] If I were advising someone to get one of these, look at the doodle count, there is some rarity there, and sometimes you can find most of the one page. Drops are single doodle count, and I don't know how much this will matter, but the there, the two doodle counts are much rarer and are often sort of the hidden in there at the floor price despite being much rarer.

[00:13:30] So I think there is an opportunity to maybe pick those up When people don't quite realize that there is a difference between them you know, and it may not mean anything in the fuel world, but it could. And I started that and I think it could at least help in a when selling it once people start realizing there is a different level of rarity to those, oh, this is awesome.

[00:13:50] Good job bringing us up. I'm definitely gonna look at it. And again, just shut out. Like when I'm going to look at it I'm not sure yet, but I like that. It's not just a PFP. I'm looking for things with utility. I'm looking for artists capital a, that are going to be in the game and build up a style and brand.

[00:14:06] And yes, I definitely have heard ferocious come up a bit. I'm also gonna use the wagging tool to like, do exactly what you said. Look for the. It was called a trait gap Delta and looking at the trait gap deltas. So it basically means there's like a whole bunch of mini floors based on all of these silly traits.

[00:14:22] Some of them don't mean anything. And some of them actually mean that you can find something that has I high Delta, right? You want that large difference between like where it's listed at the low versus the next highest price which can get a little junked up when you have a ton of. Traits, but it's worth taking a look at.

[00:14:41] So just sort of sharing a bit more of like what it means when kind of look at a project because each one is unique and we could spend forever on it. But thank you for bringing that to us. Very interesting. All right, well, let's move on because we finally get to talk about Coinbase NFT marketplace.

[00:14:58] I was, it, this was like announced. Nate the chatter around, I believe it was, I think it was no fun a year in crypto township, you know, six months. Exactly. That's the fuck, man. That's a long time ago, you know, we've had, we've had multiple seasons. There was a bear market in December, you know, and then we had the rally in January and then we had another bear market and another rally.

[00:15:22] And I don't know what we're at now, but it, it moves fast. So we've got a few cycles here since. Launched. It is the, as we mentioned, it's a beta, so we haven't actually gotten to list or, you know, use it directly, but you can actually use the, you can go onto it. Anyone can go on to the to the site and try out certain aspects of it.

[00:15:41] So yeah, what's your, what's your impression, George? A bunch of things. One, anybody can go to NFT dot Coinbase dot. And I'd encourage you to go there and click on the things. There's a lot that I feel like I can Intuit by looking at the UX decisions. And so some of, some of these pieces are, there's a discover section, right?

[00:16:02] Where they're trying to use this as an editorial, very clearly an editorial driven kind of thing. But also there's going to be like a for you section so that maybe they're going to curate NFTs based on what's in your wallet, as well as trending collections. And then there's a very interesting. Accounts to follow, and that really speaks to the social second, cause this is a platform for a social second type of utility.

[00:16:28] And it's much more of kind of like an Instagram vibe meets open sea, which is very interesting. My mind immediately goes to the way that, you know, if you use Venmo, it made PayPal social, and suddenly you have this like funny feed of like, oh, so-and-so pay them for. Gambling or beers. What have you? This seems very clear that because they have this like little add button and it's like add an ad to follow for, you know, they got the blue check marks, even they even have the blue check marks.

[00:17:00] So I think you see a much stronger profile first type of imagery, which means they're associating and bringing in an FTS as the primary medium of sort of the social post. Yeah, I agree. This is it. It seems very social. I wouldn't say social maybe first, but social forward. And much it's something that people have maybe, I don't know.

[00:17:26] So he'll ask for an open seat, you know, and then I think a lot of people are also wary of opening it up to. To the opening up these social aspects, because I mean, as we've seen on on Twitter and even in emails, there's certainly a lot of potential for for, for deceitful links that being said, you know, if they're ready to actually monitor and, and, you know, clean up what is posted on their marketplace, you know, I think it could be a very interesting feature to add in here.

[00:17:58] And you know, obviously we've seen that Instagram is quite successful by they let people share pictures. Comment on them. So I, you know, adding some of that into the NFT world, which is so visual as it is, could certainly be. I do think it's interesting that despite the the sort of social forward part of this, that it's, there's, from what I've seen, there are complaints about people registering accounts without any sort of verification or account names without any verification.

[00:18:26] So you've had in certain instances, some sort of web them, sorry, that's some sort of NFT Twitter. Personalities being faked on the NFL, on the Coinbase platform. And those names inside of one case, it's a name being held for, you know, held for some, you know, read some of that type of price. And, you know, that's a little disappointing that there wouldn't be a little bit more engagement with the current community.

[00:18:52] I mean, it's, it's not that hard to go and find who are some of the big influencers in And if T Twitter and, you know, in various other places and at least make sure that those people are verified on the, on the platform, because I think that would go a long way to helping people have more security on the, on the platform in general, the mistakes that are going to be made.

[00:19:14] I think it's really smart, albeit frustrating that there's a limited number of people in here because frankly, if, if something is wrong with the contract, something is wrong with. They probably want to figure it out in a small contained environment rather than 3.7 million over 4 million. Now, probably on this week.

[00:19:32] It's just, yeah, that's what I've heard. I've heard over 4 million, so yeah, it'll, you know, it's hard to imagine that they can, you know, how they will be able to monitor comments in a, in a way that I don't know it in a way that keeps users safe. So I'm wary of, of how that works out. You know, we've seen that.

[00:19:51] How hard it is to kind of monitor what, what things are being posted around on social sites. On many other occasions and, you know, although 4 million is nothing compared to those networks, that's still a lot of people that could be posting and very difficult for one platform to, to fully monitor, I believe.

[00:20:09] Yeah. I would say the overall UX is. It's clean. It is a very visual, obviously the point of it is to get out of the way of the beautiful, weird, bizarre art that you have. And so I I'm impressed really with just how clean this is. Maybe that's to a fault, as you may miss some of the features you are used to in terms of being able to dial into a project, but it is really accessible, I'd say, which is what you need.

[00:20:39] For that larger adoption, because I'll be honest, even still with all the open sea updates, it's still very wild west and easy to make mistakes. Also. There's comments. Did you see this on individual? So that's part of what I was referring to. Yes. And that comments that are being left there. So I've seen a lot of negative comments being left with other people's real names and that's, you know, that's a little, I don't think that's a great user experience for anyone.

[00:21:06] So, you know, that's what I would hope would get cleaned up in some ways. But yeah, like you said, it is it's, it's very visually pleasing. I do like that there is some I don't know, curation to this. It's not complete, not any contract will just automatically be listed here. At least that's what I've understood.

[00:21:27] But Han looking through the comments, it's, it's a lot of junk in there. So we'll see if that can, you know, how much that adds to it and it, you know, if it gets to a point that it's not, I don't know. I'm not sure what they'll be used for. I'm not sure if, if there's a lot that it can, that can be positive out of that for these NMT collections that I don't know.

[00:21:48] It's not like you're looking at one piece of art that needs to be criticized. Yeah. I know. Obviously, like everyone's trying to pump their own bags and, you know, go about unleashing their discord armies on no, this or that. So it's definitely something that's going to be. Manipulated quite a bit because there's both social and financial incentives in play.

[00:22:09] And also remember the internet. I'm trying to think, you know, my first approach here was to kind of browse through this shop section and just get a feel for what's getting posted. And frankly, like what is at the front door, right. Like, so I look at that front door and trying to figure out what are people going to be driven toward potentially as like, oh, what makes sense from like first person?

[00:22:32] As in like, what will potentially benefit from a reasonable floor for a good project that is listed here and I'm having a hard time kind of getting that because I get trending collections, which is just not helpful. It's like, yeah, okay. Go buy a moon bird. And like, that's not what people are gonna do go to shop.

[00:22:51] And one of the things I did is like, look at price lowest. I could imagine people doing that because there's limited numbers of. Features. So that'll say like, okay. And I'm trying to look for anything of quality in this like lowest list NFTE, because again, this many people wander into a new store, they have access to capital.

[00:23:10] Like what they're going to do is shop this. So I'm trying to figure out if there's an angle on analyzing the UX and what's listed and picking up any of these projects. I haven't found any alpha yet. I might have some in the next podcast, but I'm I'm looking around. What do you think. Well, yeah, I guess there is something there, you know, I don't know how much the, you know, how much the collection or, you know, what's offered on the platform will change as they evolve and as they start letting new people in you know, I obviously didn't, haven't heard much about the plans of actually opening up the marketplace to more users.

[00:23:42] So we don't know. You know, at this point, I would imagine it's a pretty small amount of volume that's being done on the platform. You know, and that's, that's going to change, you know, as we've mentioned in the past, and there's a Coinbase effect to tokens and we've, we've talked about how that can happen with NFTs as well.

[00:24:01] And, you know, the idea is just more exposure to more users is generally very positive for. Dogan for a NFT collection, especially one that is already doing well. So I think that that's, you know, we're going to, I think it is worth watching what happens here. You know, I think it may be somewhat early to start making our, our plans of which projects may may be featured once they open it up to more people.

[00:24:28] Because we really don't know that part yet. You know, we really don't. I'm really interested in this sort of discovery though. There's something here and this for you, I don't think should be sort of overlooked. I'm talking about nfte.coinbase.com/discover the discovery element because what is that the top of, for you for the 40 you discovery page right now?

[00:24:50] Just curious or what are some cold blooded creepy? Okay. I've just, I mean, I imagine this is a personalized feed here. Is that, how can I, cause I'm not signed in, but it seems to like, it's like changed. It's true. Yeah. That's a, that's a good point. I'm not signed in either, so I don't have a wallet. Then I see a doodles.

[00:25:10] Then I see a psychedelic stuff personalized to me at all. No big projects, but, so here's what I'll say. Why that's interesting to me is because. There are more individual NFTs listed on open sea than there are. I've heard this like pages on the internet, right. Websites on the internet because it has proliferated so much.

[00:25:33] So that means that discovery is sort of this huge opportunity. And like, I'm wondering, is this going to be algorithmically generated editorially driven based on my price range based on. What interests and, you know, it's similar to the way many, I think artists have found potential success because they are, you know, in an EDM category that gets picked up and they get added to playlists.

[00:25:56] And so paying attention to how this sort of curates, not just at an individual level, but macro, it may be like, this is like the, the front page of aol.com when you land on it. It may actually carry some, some influence there. So again, I don't have the. I don't have the next tech action, but this is like what I'm seeing.

[00:26:16] When I look at the page and potentially extrapolating about what 3.74 million users do when they wander into this? What the heck should I buy? Like what year is interesting? Right. I th I think one thing that's important to take into consideration is kind of the level of user that will be coming in here.

[00:26:35] You know, we're not as much talking about the early adopter, the, the, the person that's as willing to put up with with some of the technical challenges, you know, I think they're trying to overcome that. I don't feel like there's going to be a whole lot of, I think there's. Multiple chains listed on here eventually.

[00:26:53] And it's not going to be a whole lot of impetus on the user to figure out the technical challenges. It definitely feels like it's made to make it easy much like Coinbase has made crypto easy for someone to just connect their bank account, put some money into a token. You know, now I don't know how many tokens are on there.

[00:27:09] It used to be a very small number to make it simple. You know, but I think that's kind of the approach that they're going to take here. Relatively simple to get started. You can get, make it friendly, make it for the next that next wave of adopters that are curious, but somewhat hesitant right now.

[00:27:27] And it's, it is a very different I'd say it's a different user mindset than, than the average open, see user opens the users are, are, you know, have been more willing to take those risks and are on these, you know are willing to put up with maybe the problems. But this will be a new, you know, it will have a lot of influence where, how will they direct attention for people that aren't thinking quite as Quite the same way as other users that maybe are thinking of in the verify, you know, trust, but verify sort of mentality.

[00:27:59] That's more accepted on web three and, or sorry in like the I don't know, in the open web three then these sort of dated marketplaces. Yeah. I I'm just, you know, I'm excited. I wonder how quickly they're going to roll this. Yeah. Yeah. That'll, that'll be interesting. I mean, I'm sure that some of that depends on how it's going and the feedback and everything, but yeah, that we've got to watch this now because you figured that it's, we're not going to see those long delays of, you know, something soon and then hearing nothing for, for six weeks at this point.

[00:28:33] Yeah. Well, they they're in the game, they're in the game now and it's going to impact them. And it will be bringing in more liquidity, more liquidity to more projects. Yeah. I don't know what it means in terms of the NFD marketplace, but I do know their, their stock has not been doing well since its IPO.

[00:28:54] I believe it's quite low, so I could definitely see them trying to use this to instigate a little bit more action in. Stock. I, you know, I can't, I have no idea exactly how that would all come into play, but it seems like NFTs are. Sort of being used as a way to to bring back some of the the forward thinking growth mindedness of investors that has sort of fallen by the wayside recently.

[00:29:26] Oh my gosh. You're not kidding. The past year. It's down 53%. That's ouch. Ouch, ouch. Currently Yetta. Yeah. Right. Should have actually, instead of this, stuck on a button. Although, I don't know, a year ago, you may, you may still be down. I don't know what the price, not 53% though. I can tell you that. No, not that much.

[00:29:47] All right. I'm just looking through the show notes. Oh, KYC. I had a note. I know your customer stuff may be in play for some of these projects though, if you're coming. So here's the game. If you're authenticating and coming from Coinbase, right. And they're managing your wallet and this is like a management.

[00:30:03] It's KYC. They know that they know your information and you know that they know that. Which has tax implications and reporting and just know that going in. However, they also, from a report I heard are allowing for just connection via meta mask in the, I have the Coinbase wallet. Right. That's interesting.

[00:30:22] Right. So that's like, okay, that's a, that's the side door. So part partially KYC there. And it seems like any projects, you know, once you're in the door, you can kind of be listing stuff. I thought it was going to be much more. Curated, but from what the list I just looked at, it seems a lot more open than I realized.

[00:30:40] And yeah, if you're checking out on an individual project, it's, it's nowhere near sort of where you need it to be for filters and like, understanding like what's going on with the product. It's like really feature lacking when it comes to like, Well, we were just talking about it, right? Hey, look at this, you know, filter on the attribute for number of doodles associated with it.

[00:31:00] Like none. No, no, none of that's there yet or who knows if it's there or not, and maybe they're going to rely on other pieces. And in the back of my mind, you know, just to put my own bags here the Wagni tool like comes into, you know, hand quite quickly when you're saying like, look, I need something to analyze what's going on.

[00:31:19] I see. There's like interesting things going on. Coinbase, but I like, I want to check out what's going on with these traits and details. So these third-party tools I think we'll have a run-up of interest as well when people realize like, wait a minute, like, what is this project actually doing? What are the traits?

[00:31:37] What are the angles? Who are the holders? And it's also going to drive up, I think, speculation based on influencers, on the activity of influencers and being able to track whale, wallets, and like their moves are just going to be much more. Associated with, for example, like Elan tweets about buying Twitter and suddenly shit goes wild.

[00:31:55] Like, look, if pump punk, you know, X number, whatever, tweet something, or now a NFT posts, something in their feed. I think it's going to be much more about like alerts and people paying attention to it. So there may be a, a greater consolidation around these NFT influencers. W I have an episode theme for that in the future.

[00:32:16] All right. We'll have to get onto that later. I think we have covered everything on this one, George. We did it Coinbase up. I can't believe we did this episode. I was so happy when it came. I didn't, I beat, I beat you to it. I was like, ah, I posted it in our discord. So yeah. Join us in discord. We have conversations about this, you know, tell us where we're right.

[00:32:37] Tell us where we're wrong. But if you're going to. A five-star rating, please do it on whatever app you're listening to. If you're going to leave a three-star like just leaving the discord, just let us know. All right. Thanks. All right. Bye George.

 

Read more

Growing Women-led NFT Projects! | Project: WomenRise

Wednesday Apr 20, 2022

Wednesday Apr 20, 2022

Project success of World of Women. Self-fulling prophecy of guys having more access/headstart creating projects that appeal to guys and so on. A smart strategy could be to start looking for female-led teams/artists as the market grows. 

 

World of Women Galaxy - Collection | OpenSea 

 

Project: https://opensea.io/collection/womenrise
Women Rise is another relatively new female-led NFT collection in the space. Yet, it’s already supported by celebrities like Gary Vaynerchuk, who minted 10 NFTs during the project’s December launch. In a short span of time, the project has raked in over $13 million in OpenSea trade volume. Acclaimed visual artist, Maliha Abidi created the collection of 10,000 NFTs representing women across the globe. A Pakistani-American artist, Abidi has been advocating for social justice through her art. 

  • boys club:
  1. Only ~15% of Bitcoin and ~12% of Ethereum investors are women
  2. Of the 121 founders of the top crypto companies, 5 are women
  3. Men are 2x as likely to invest in crypto as women
  4. BlockFi found only 9% of women say they understand cryptocurrency
  5. https://cryptoart.io/artists

Women Crypto groups/projects
  1. https://cyberbrokers.io/ 
  2. SheFI
  3. Black Women Blockchain Council
  4. BoysClub Dao

 

Transcript

[00:00:00] Today on all about affordable NFTs ladies rule, the rise of female led NFT projects. I'll be honest. Like we could have done this episode anytime, I think over the past six months, but we've been waiting kind of gathering some, some notes on it and excited to share some of that. Some of that conversation and alpha with.

[00:00:20] First, I think we somewhat alluded to this in our last podcast to listen to that recently, just discussing this. George recently picked up a couple of pieces from the Sarah show and Sarah Zucker and Betty from the artist behind. Dead fellows. Yeah.

[00:00:38] So the funny thing is, is like it's been in my like personal investment narrative for a little while and we've kind of been waiting to share it, but I, yeah, I, I'm excited to get both of them.

[00:00:47] And I actually I tweeted it the Sarah shows there's soccer and saying like, Hey, picked up when your repeat. And she's like, oh, awesome. Thanks for collecting. So it's kind of cool. Like she knows me.

[00:00:58] Yeah. Cool. Well, yeah, I'm excited to talk about this. I think we have seen we've definitely seen some some projects, some women led projects get some, some big headlines, so it'd be good to dig into this a bit more, but you know, as he said, why don't we start with some headlines?

[00:01:13] Okay. E Toro getting in aping into blue-chip NFTs with a $20 million. Okay. So this is a, an investment platform and they are actually putting a, a, sorry, a portfolio of NFT investments together. This isn't a portfolio or a investment fund to invest in infrastructure tools around NMT. This is actually investing in the NFTs themselves.

[00:01:36] So haven't seen a ton of. Direct investment. It, of course is coming from a more I don't know younger sort of financial company and not too surprised that this is happening, but I think we'll start to see this kind of thing more and more.

[00:01:52] Yeah. They talk about saying they want to be one of the leading and if T collectors in the world fully deployed to collection, that already includes an Ft projects from board eight yacht club, crypto punks, and right on theme world of women.

[00:02:05] World of women. I think being, I'd say the largest, would you say? Yeah, that's what I kind of look at his leg, his WomenLead NFT collection at this point. And there's been a handful of successful ones and I think that has led the way I believe in terms of price, it's still up there and certainly gotten a lot of headlines.

[00:02:24] So yeah, interesting here. Next one, we've got nouns, Dow backs, NFT crowdfunding. So now in style up to something, any indie candidate film for Calla Dita definitely didn't pronounce that. Right. So what does announced dial up to here?

[00:02:40] Yeah, I guess they also, I've heard about this this films and indie film is being funded through NFTs and I believe it is connected to let's see, it's connected to.

[00:02:51] Martin Scorsese's daughter. She was on a. I believe so I'm now reading through this and not seeing that right away. But anyway, they announced out is putting some of their significant ease towards backing this project. As we've mentioned the past the the downscale There is the release one new NFT each day.

[00:03:13] They're still going for a pretty hefty sum. So they haven't spent a ton of that. So they are putting some of that towards this film. It will be the first NFT back film. It's so interesting to see. It looks like they do have some that they actually have a bit of a trailer here. Click, I'm not entirely clear on the status of the film at this point.

[00:03:34] Yeah, it seems like they're going to feature those glasses. So somehow that's going to be fit into the narrative. So there'll be a there's that like the content and that content inclusion for that nouns. That was a funny, one of it is. Just keep turning out those, those nouns every day. Good for them.

[00:03:53] All right. We can move to our featured project, which

[00:04:00] actually we talked briefly about this. I think one other thing we could talk about, if not, maybe NFTE specific is just the. Oh, the news that's been going on with Twitter recently, it is still a very popular place for NFT discussion. And we've had Ilan recently by about 10% of the company and then kind of put all his chips out there and say that he wants to buy the whole thing.

[00:04:22] And as we've mentioned this on a recent podcast and it made the news may have changed by the time you're listening to this. But I think it will have some sort of impact on the, on NFT discussion and crypto. Twitter. So it's definitely one that I'm looking at and keeping, keeping tabs on.

[00:04:41] Yeah. I mean, you see when all those announcement happened, like speaking as a dose holder the price of doge moves kind of aggressively when that happens. And also remember that as Dorsey left, he was a Bitcoin maximalist and maybe we'll actually slowing down the integration and adoption of more NFTs into web three tech into.

[00:05:02] Twitter. So I think all moves there. It seems like the path of Elan having his way or not having his way, all paths lead to Twitter, more broadly deepening its relationship to web three, which will increase adoption and usage. So it's all upside from where I sit, but I'm really rooting for him to do it and then make doji official currency of Twitter.

[00:05:22] And I'll be right back on my dose to the moon.

[00:05:25] That's all right. I imagine that's all part of the plan. It's

[00:05:28] all, it's all planned out. I just have to survive the trough.

[00:05:30] All right. Well, now I think we can move on. I thought that we should at least get that in there, but let's move on to our affordable project. And once again it is George bringing one to us. And what do you have to go along with our theme this week? Wait a minute. Is that three today? This week you're doing this week today.

[00:05:49] You owe me you want me I dunno, a moon cat pop for forever.

[00:05:54] Oh boy.

[00:05:54] All right. So ladies rule is our theme, but the project that we found is women rise. And so I guess relatively new female led NFT collection, I'll say the current floor just to get you anchored is. Two one. And that is a, I would say relatively thin floor.

[00:06:15] So this thing pat us on our back, I we get 80 downloads, this could move the floor. So all the more reason to join us in the discord, because I'm about to post it there. So they'll get to see what's going on really great art here. And it's celebrating. It says and representing women, scientists, activists, artists, coders, and more.

[00:06:34] And they're focused on advancing women's rights and girls' education through NFTs and web three, and even trying to build the first school in the metaverse and really sort of exciting vision. I would say it's a collection from an artist activist Molly hat, Z art is her tag and, and focused on advocating for social justice.

[00:06:55] So what do you see in, in this project? I'll say 10,000 items. Yeah, 10,000 items. You've got a, let's see, we've got about 5,700 holder. So a pretty pretty good unique holder count. I would say for a collection that size as you mentioned that it didn't get a lot of attention when it came out earlier and actually had a, we got an average price of over one eith at one point it's been kind of sliding down since peaking in.

[00:07:24] Let's see, mid February or so. But you know, it has, it's a fairly fairly affordable project at this point, I would say, especially compared to where it's been and where many of the sales have been. The holder count has been relatively. Daddy increasing slightly, but you know, I'd say definitely not.

[00:07:44] I wouldn't, it doesn't look like there's people dumping this project. I think people are looking at this as one of the more affordable women led collections out there. As you said seen world of women do quite well and it's even grouped in with the Crypto Punkin board ape projects in the blue chip collection.

[00:08:04] So I think this is a way to get in on a women led project at a much more affordable price. And one that frankly seems to be being overlooked. Maybe because who knows what the reason is. But I, I think there's a very good chance for some of these women led projects to to get more attention in the future.

[00:08:24] We know that there's a lot of Hills in the space and it's very dominated that way. I think as new people come in, we're going to maybe see the the numbers shifted that for awhile. And some of these projects could benefit.

[00:08:40] Yeah, just doing some trait analysis inside of whammy.io.

[00:08:46] It's all over the map because there's a bunch of attributes and I really can't find a salient attribute that I would say to go on. So like it's one of those to, to take a look at more closely and see what you see in and see what like draws you to it. But there's accessories, background, badge, body clothes.

[00:09:04] I make up glass hair, head helmet, light background lifts, reflection, ribs, and the list kind of goes on. There's some, some big deltas in here between floor and the gap. So this is like a gap analysis essentially of saying what is the micro floor was what I look at at, at different traits to be like, all right, where, where is maybe somebody mispriced something along the way for, for the traits are, but there's a lot of, a lot of variants here in, in these gaps speaking to again, the thin floor and the psych sort of our recent loss of attention.

[00:09:36] Certainly if you have a a longer view of this, this is interesting. This is very interesting.

[00:09:44] Yeah. Going on my watch list for sure. So thanks for bringing that to one that one to us, George.

[00:09:50] Yeah, absolutely. This is a fun one and it's definitely on a, on my watch full disclosure. We don't own it as of, I don't know the recording of this, but who knows?

[00:09:57] Because. We buy things.

[00:10:00] This is true. This is true.

[00:10:03] Okay. All right. Ladies rule rise, the female NFT projects and at a high level, look, the, this, the fact of this is at a high level, this is a boys club. Look, I will speak as someone who's running a podcast to two men talking to each other about NFTs.

[00:10:20] You see it a lot in The numbers as well, where according to some stats that only 15% of Bitcoin and 12% of Ethereum investors are women. So that's like if we imagine a world where it should be 50 50, because it's supposed to be open architecture and pulling in everybody into this community, let's just like, hold up the mirror and look at the data which is readily available.

[00:10:45] That's just sort of, not the case.

[00:10:47] Yeah. I mean I actually haven't seen the data necessarily behind this. My, I think that is somewhat harder to, to come by just by wallet addresses, but I think it's pretty apparent when you interact on. Crypto Twitter discords or just look at the the people behind projects, the ones that are docs it's, it's very heavily male.

[00:11:10] I'm sure you do have some, some other numbers that you can share with us here on not seeing it. But you know, it is very obvious that it's, it's a lot of males and we've talked about how will you know how there are fewer females in the space. And they, I don't know. I would say it's it's. It's almost there many are overlooked.

[00:11:32] And I'd say that there are a handful that get the attention in place of actually trying to promote it to be a more more open space over are, I shouldn't say open, but more, a more balanced space overall. It's it's almost like if there's enough attention and put upon us, you that it somehow makes up for, for the inbound.

[00:11:52] Yeah, some of those just sort of other top line stats of the 121 founders that they found in a research report of top crypto companies, five are women. Men are two times as likely to invest in crypto, as women. That's like a pew research coming out, block five found that only 9% of women say they understand cryptocurrency.

[00:12:13] So certainly based on these kinds of surveys and whatnot, but it's look, it's a bit of a self-fulfilling prophecy that. Frankly, if men have access to the capital and creation markets for NFT projects, then they create, guess what? She, that appeals to more men that then fulfills their sort of like next project.

[00:12:35] And they can kind of go on and you see this also with top artists it doesn't, it doesn't take much sort of top line analysis. And we were talking about the total art market on the the, the crypto art. Crypto art.io, like go and look, and then as you go through, you'll realize, what do you.

[00:12:52] You have people, you have POC, you have X copy, free Ross. You have basically men, men, men, men, men, for all the top pieces inside of here for, for individual orders. There are in a, we've chatted out to a few, a lot of female ed projects, the largest being a world of women that are really risen up and sort of held the rise.

[00:13:16] And I had a recently the galaxy world of women galaxy drop that Andrew, I think you bought into right.

[00:13:21] Yeah, I did buy some of those. And I looked at that as an opportunity to get into what I, what I sort of considered and what a lot of considers, one of the premier women led projects, as I mentioned earlier it was an opportunity that the, to expand there their whole, their group, much like a board apes did with mute names and other projects have done in the past.

[00:13:43] So they're growing that and it's still a, it's not one that we can put in our affordable list. It's much more affordable than their other projects, but I think those are still about a 1.2 floor. So I think there's, there's a lot. Good things going on with that project. But I think some of that will flow over to other similar projects like this, like the women rise project in another excuse me.

[00:14:06] Other projects.

[00:14:07] Yeah. I mean, like just sort of continuing down continuing down that list you kind of end up with a top artists and I'll go track this down in the show notes and you can kind of look at yourself. Late at yourself. You'll, you'll see that you gotta get into like number seven before you end up with hackathon, which I believe is the first one on that list for.

[00:14:25] Top artists nothing to shake a stick at 40, 41 million doing just fine and total art group

[00:14:32] value, which is really right. And I believe that that's a partnership of a male and female partner there. Right? So it's Monica, Monica Rizzoli is number 10 on that list. And believe that I know that she's done a very popular.

[00:14:45] Our blocks collection. So that that's that's impressive, but you know, as you said, this is largely dominated by men. Going down the list further, we've got Trevor Jones, shell, dear Mike Johnson, these are all men. And so you do have to really start going down a list and it's I wouldn't even say that it's the position, but just how few women are, are even on this list to begin with.

[00:15:09] And so to take a step back in terms of the, the upside of this, and let's just be honest, like you're, you're collecting NFT art because it speaks to you you're collecting NFT art or entity projects because you want to flip it. You want value there. And I think there is a inherent rarity to.

[00:15:32] Women that are leading projects or a women artists that have really defined themselves in this space, meaning they have to be that much better to have, have fought their way into it. And so that is when we look at a project like metamorphosis that we highlighted, I immediately went to what was the.

[00:15:50] Female creators in that list and like, where are they undervalued? And sure enough, they were, I felt very undervalued. So I was like, yep, I'm going to go pick up that dead fellows. And I'm going to go pick up Sarah soccer because I, I liked where the value of their workforce also within created you look at.

[00:16:08] Saying like at the time and Frida Kahlo getting completely overlooked and women in the art world. This is like not, not a new story, it's history repeating itself. But I think that there's a lot of upside when, by the way, remember that distribution of, we were just talking about the number of people that have bought into NFTs.

[00:16:28] And if the majority of the NFT projects that have been created. By then potentially unfairly necessarily for men. What happens when that begins to hit more of a mainstream market? Where are the older projects that are going to get more appreciated by? I don't know, say half of the population holds.

[00:16:48] Wallets. There's a whole side of the market that hasn't even come in we're early. And even earlier, still when it comes to a female lead female represented projects. And it's very much part of my capital, a art, a I'll say a capital, a art investment Yeah. I that's part of what I was thinking about earlier when I was thinking about I think that the, the ratio of people that are coming in is going to shift over time.

[00:17:13] If you've already got a heavy, a user base of, of then it. It's natural to think that at some point that'll swing the other way. And we may have more of a lot more women coming yet. It's at a certain point and not as many quality projects to to look to. I think that could change.

[00:17:31] So I actually was thinking one other project. I've been impressed with don't own. But is the cyber brokers project that's led by Josie? Who's like, what is her last name, Josie? Let's see, she's been around the NFP space for a long time. She's done pieces on super rare. Very impressive collection and super impressive artists that was doing this when nobody was paying attention.

[00:17:56] She's actually married to another person in the space Andrew Stein, who I've talked to a bit as well. So they're both very in a very into NFT or they're butchering entities before anyone paying attention. And she recently put this collection together. So it's one that just take a look at, I think, to kind of.

[00:18:13] I don't know. Let's see, just see a different idea of a collection this was done with SVG files which for those that aren't interested, but that aren't familiar can let's see. So there, there aren't actually graphic files in there. These there's there's I'm sorry, there aren't actually like heavy graphic JPEG files in there.

[00:18:33] It's a much later weight code based way of displaying these images so that they are all on chain and it's. Relatively expensive to do, but it is cool that these can be shown in any size at all. I just, I think it's a really cool project, regardless of who's bleeding it, but it's cool to see that it's been some is a female at project, by someone that's been so dedicated to this space for such a long time and doing it when nobody was paying attention like we've, we've talked about that as being such a, such an impressive.

[00:19:04] Just an impressive part of an artist's work. If they were doing what nobody cared. I think there's a pretty good chance. They're going to keep at it when people are paying attention. Yeah. Like

[00:19:13] that. It's Josie Bellini. And either Rigo, I will go ahead and say not affordable

[00:19:20] for. Pretty

[00:19:21] impressive now. Yeah, it's a cool project. But I think it also shows where some of these practices can go. There's a lot of potential here and there's flip to other affordable projects before that unless you've got way too much, you've burned a hole in your pocket.

[00:19:37] No problem. It's not a problem I have as of late anyway there are. Also some really great women in crypto groups out there. She five black women, blockchain council boys' club Dow, which is kind of a nod to the fact that it is a boys club. So it is. Or women, and there are meetups and more gatherings.

[00:19:58] And I think more and more this, these types of groups will hopefully come up, educate investors and then say, Hey coming back to our thesis, like, where should we invest? Should it be in, I don't know, somebody that is creating art that represents us, represents what we believe in, or is it just a.

[00:20:17] Sort of like, oh, let's go find generic project X that we can go flip. It seems to probably have maybe a bend toward picking up some of these, these projects and celebrating some of these artists in their continued work.

[00:20:32] Yeah, absolutely.

[00:20:34] All right. Well, I'm, I'm ever hopeful that this market is going to become more and more inclusive on every manner of it. Also speaking as a as a girl, dad I, I do hope to see a future of NFTs that are well, I guess at this point would need a lot more unicorns though. I am invested in a unicorn stable and a lot more rainbows based on our current.

[00:20:56] But I know those will grow.

[00:20:58] Cool. Well, good discussion, George.

Read more

How big is the NFT Market? | Project: Illuvium

Monday Apr 18, 2022

Monday Apr 18, 2022

  • Less than 500k monthly active users on OpenSea
  • Value of all digital art estimated at $2.8 billion
  • Over 4 million on waitlist for the “coming soon” coinbase marketplace
  • Early-adopter stage

 

Transcript

[00:00:00] Today on all about affordable NFTs. How big is the NFT market? The answer 47. No,

[00:00:09] that's not exactly. I think the spot on. Yeah. Good to talk to again, George.

[00:00:16] Yeah. So we're going to cover some news. We're going to cover some projects. We'll probably remember to do all of those things inside of here, but just to start, we've got little oh, here, the us government connects North Korea hacking group with last month, 600 million Ronan exploit.

[00:00:34] As you remember, Ronin is the the currency under lying, the Axiom infinity game along with SLP, which is the earned revenue. There was a problem in there where frankly, they got us for all of their ethos that people were holding. They're going to be made whole because there's a lot of money floating around.

[00:00:54] So I don't know if there's anything else on this interesting North Korea. Yeah.

[00:00:57] There had been some rumors that it was probably a state actor around the time, just because there was so little information coming out about it. And 600 million is kind of a large number to not, to have a lot more discussion around.

[00:01:11] So not too surprising if if you had kind of read some of that, the Lazarus group they'd been known crypto hackers in the past. So. You know, interesting. There's about 450 million tied to one address specifically unclear where the other, I don't know, 150 million or so is all right. Well, anyway, let's see, we've got the next bit of news here.

[00:01:35] We've got news of Coinbase NFTs. Cool. It sounds like Coinbase in a P is coming out. Right, George,

[00:01:41] stop it. You're you keep teasing me with this and I'm done. I'm done with it. It's never going to happen. Not going to. Never gonna make it.

[00:01:49] So they've got a three-part. Film series coming out with the board API club.

[00:01:54] They did, they announced this didn't seem to be huge news in the board. Ape world is bigger news in the Coinbase world. Interestingly in quick days, it did slip in there that their NFT marketplace is coming very, very soon. So, you know, they have a different scale than some of us. But you know, maybe that who knows what that means, but they are, they're at least finding a way to put themselves in the conversation with board apes at this point.

[00:02:23] Yeah. I mean, they've got the wallet app, which I think is actually much bigger than folks realize because it's tied to the mobile. And it's tied to your ability, frankly, one of the best and easiest on-ramps for turn and Fiat into crypto at, at low costs and low friction. And you know, even knowing what I know, I still use the Coinbase to my private wallet, you know, conveyor belt.

[00:02:51] What do you use actually to get your, to get Fiat's or are you just no longer. Moving stuff that way

[00:02:58] yet. I haven't done that in awhile. Move Fiat to crypto. Got a, got a good, a good amount of crypto at this point and move around and crypto much more often. But that is a good point though, that, that they do have that wallet.

[00:03:13] And they do have a very long pave and see that you've just made a note. They have a very long waiting list for their NFT marketplace and heard it's as big as 4 million people at this point. So you know, they, and the Coinbase NFT marketplace, I believe it will. Some point, you know, it is becoming a running joke around you know, around the NFG world of, because it has been such a long time and especially as fast as things move in in crypto world.

[00:03:45] Yeah. Well, I I'm not holding my breath and I'm moving, I'm moving on from, from hopes to sort of make making other other plans. When it comes, hopefully it'll move the market because that's a lot of people that enter into it. Once you get an idea of how big the NFT market is and isn't we'll get into that a little bit more later on in the episode.

[00:04:07] Next step, next story we've got here. We've got Lego coming into the metaverse. They've partnered with epic games and they are looking to make a child friendly. Metaverse you know, so I think this will be more in line with I'm not sure if it, it roadblocks or The other one craft Minecraft.

[00:04:29] That's actually the one that I'm more familiar with, they know, but there, and I think from what I know, a Minecraft is much more actually kid safe than roadblocks is as a platform. So I'm sure they see that and see an opportunity. They're so interesting that they are getting into this Lego.

[00:04:46] Does, you know, it seems like it would work with a lot of the the Minecraft style of building with blocks. They could use. You know, use a Lego like block to, to build in the world and partnering with epic certainly gives them a, a big leg up again, getting started here.

[00:05:05] Yeah. Well, we'll see you know, talking about this next generation of just fully normalized to ownership and creation in on online ecosystems.

[00:05:16] I actually liked that partnership. I like that. Groups like that, getting together as opposed to saying like, yeah, let's trust mark Zuckerberg with our, with our kids in the metaverse, which is not the first line I'd maybe go for and in, in my bed.

[00:05:30] Yeah, absolutely. You know, I do think that like has has a good reputation and we'll work to uphold that you know, with a metaverse that is actually safe for kids.

[00:05:43] Yeah. I mean, in epic games, obviously that's the creator behind 14. Which, you know, say what you will like it's guns and whatnot, but they have really brought the multiplayer battle Royales to the foreground. And also I respect the heck out of that massive donation in aid to Ukraine the other month, like totally, I think it was over 80 million.

[00:06:02] So hats off and respect. They know how to manage youth in an ecosystem on.

[00:06:08] Absolutely. All right. One more news item here. We've got another company entering the metaverse and other, a fashion apparel company under armor. This time I, a gear I'd say, but a Nike Adidas. And now under armor, all very active or sorry, Nike.

[00:06:28] Adidas are already very active in NFTs and the metaverse and now we're seeing under armor also getting into the space. So, you know, as we've been saying, you know, I think this is just going to become, every company has some sort of metaverse play at some point and it won't be such news, but you know, at this point we're still, you know, I think it is still somewhat headline grabbing when when these companies do make plans

[00:06:51] yeah.

[00:06:52] In this Tweet. And here the Nike recently now 6.7 million Robox roadblocks players had visited the virtual Nike land store talking about attention. And you're talking about attention in these digital ecosystems. So brands are definitely waking up cause they realize where the next generation of consumers are spending time and might be making.

[00:07:15] All right. Well, let's move on to our affordable project. George, you've got another one for us today. And what do you have?

[00:07:23] So for change, it's not soccer. How about that?

[00:07:28] Well, wait, so it's gotta be a stable, stable base game, right?

[00:07:33] Kind of, but no, not even as the Lindsay's. I've been watching and you've probably heard this before.

[00:07:39] Alluvium for, for awhile. It's kinda like then in, you know, I got a lot of stuff on the site in the side view Ramir but essentially, you know, I can dedicate like many, many hours to the lore of what's being built around Eluvia, but they have technically not launched as a full game. They are going to be a think of it as what the next.

[00:08:00] Brand of Pokemon will be in the metaverse and that's most exciting implementation. And they've got a tremendous discord. Right now they don't have anything in the NFTE land that frankly I would be getting into, but they do have a token and it's that sort of dangerous game of token defense. The the game, but you know, right now, just looking at the overall just size internally, they've got I believe something like, you know, 42,000 folks on YouTube, 290,000 on Twitter, and then what they called survivors 190, 4,000 in there.

[00:08:42] So they've been under development for a while now, the sort of reason I'm bringing it up now they've got Eluvia island, V I L V. Total. And, you know, you, you can look at the price and move around, but I think the play right now is to potentially look at getting in at whatever your size is for some of that Eluvia token.

[00:09:02] Cause they have just launched they're staking V2. And so they're staking V2. Earn yield on that, but also sort of, kind of be ready once. Once the play starts watching and they've got a, a game launcher that's going to come, it's gonna be a desktop downloader, and they've got some amazing graphics and art here.

[00:09:22] They have a fully doxed team. And they've just, they've been building for a very long time. Look the risks of this, as I've said before, like, you know, when game and you're sort of play this game of like waiting and. But I'll tell you a good time to get in. It's like a team that can execute and finally does launch will, and they do sort of hit part of this, like be able to capitalize on a community, ready to go and look, there's going to be the next Pokemon, the next branded, catch them, breed them, interact in this multi game world.

[00:09:55] They've got all of the game dynamics really planned out and it's. There's going to be a winner. I don't know if it's this one or not, but it's something that I'm kind of watching the side. What do you see about alluvium from, from where? See.

[00:10:07] So I've heard this one talked about a lot and you know, I think he gets, I don't know if it's getting a lot of attention, but it's certainly getting mentioned in a lot of NFT circles looking they're looking ahead to what's coming.

[00:10:21] I, like you said, there's not a ton there for NFTs at this point. So it is kind of playing on the future. That being said, I think it is somewhat overlooked at this point. And you know, if they are able to. You know, to, to make this work, even if it's, you know, I think you have to be, you have to be wary that any of these games are going to run into the same problems as, as we've seen over and over that, they're going to go through a, a good cycle and then maybe run into problems.

[00:10:50] But I think. If you're aware of that cycle, there is an opportunity here. You know, it would be, I would, if the price does increase by a lot, I would definitely look to maybe at least a move you know, move the original investment out and, you know, then if you are looking to hold long-term you know, that would be the way that.

[00:11:13] Would look to play this kind of one.

[00:11:16] Yeah. And they've got some tremendous marketing goals, such as like Guinness book record for largest pot for a game played, but they've got the sign up for the auto Bandler private beta right now. But there's sort of testing and getting an idea of what's going on.

[00:11:31] So it may be a period of time where the price is low interest is kind of at a, at a point that might make sense to test it out and take a look to see if this might. Something that that takes hold, but obviously, yeah, like there's nothing better than playing with the house's money kind of building on that.

[00:11:48] I had some other updates that I wanted to throw out there of past projects. One, the red village, they are running active tournaments and I have been playing in them. I've been winning with some of them. I've got a nice guy. He's got like a 50% win rate. He's a little drunk. It was an R for my R one is not performing very well.

[00:12:07] Mary wind Claus, just saying interesting. I don't know. She's she's just not achieving like, like prior, so I got a Druid doing it and it's actually, you know, it's, I'm, I'm, I'm really excited for them because I feel like I've watched their sort of story unfold for a number of months. But it's, it's That's actually working.

[00:12:24] It's actually fun. The other one is Pegasi back to stables. He knew I was going to, I didn't talk about soccer stables. So here we go. I guess they have a super fascinating burn mechanics. So this has been the wildest ride. I think I've ever been on for. Peak value and then peak crash. Like it was so aggressive because of the,

[00:12:49] and you own dose.

[00:12:51] So I think that's really saying something

[00:12:53] I've written some waves I've written. Yeah. And I owned a fish. So that's thanks for disclosing. That's great. Sorry,

[00:13:02] is that a, was that not?

[00:13:03] I at least I at least took my initial. I follow my own rule. Take the initial investment outside. I did something smart there, but there's a different universe where I made a lot more money, but I still believe in dovish.

[00:13:14] I'm a. Anyway what happened with Pegasi is they sort of ran up in the price for the, the base currency and then which is called biz. If you want to track it and you can kind of look at a story and it was like crash. So it was up at like 25 cents. And then I was like down at like 0.04 cents.

[00:13:34] So pretty, pretty epic bottom falling out, which is just the nature of play to earn games that expand and breeding. Right? If the breeding is increased, you can see it every single time that effectively there's no other side of the market and re reason to keep it. What they have done is reasonably rollout and they did this on April 14th.

[00:13:53] So it's been a little while. So it'd be interesting to take a look at where the market is, have created a burn mechanic for general Pega. So the base peg is. The Pacers that you have to burn to and admins to get a epic and to get a rare, to get a legendary. So they have this sort of, you have to burn more, to get more into a higher tier.

[00:14:12] That'll let you earn more. So they've actually sort of rearchitected the whole way that the token will be earned and it sort of is going to neutralize this like massive breeding problem that happened where the proliferation of. Very low tier horse. Peggy's got introduced into the market, so I'm optimistic and it might be interesting if you kind of heard me talking about it and take a look at like this inflection point where things are at the Flory, Flory, McPherson, and seeing what's going on there.

[00:14:43] And one of the tactics might be I'm looking at. Looking at undervalued founding. So, you know, remember the don't buy what you can breed founding and, or potentially the the legendary, which are now are of higher value because they can earn a heck of a lot more than the other ones. So I'm very curious, it's a team that develops and does stuff, but you know, nothing, nothing like seeing dynamics play out right in your backyard and saying hope that works.

[00:15:11] All right, Andrew, how big is the NFT market go?

[00:15:17] All right. Well, not very, I would say overall, there we go. Seven. Okay. Oh good. Todd. You know, this was something that I've, I dunno, it came up. It came up recently when I was looking at I guess it was on Twitter and someone was talking about how they're at an NFT event and asking others if they knew how many active users were on, on open sea.

[00:15:40] And, you know, at this point, you know, everybody seemed to be way off and, you know, there's about 500,000 active monthly users on an open seat. And to put that in some perspective, Instagram has 400 and 545 million monthly active users discord as 121 million. So when you think about the fact that, you know, every NFT project seems to have a discourse.

[00:16:06] Yeah at most you know, maybe there could even be double if people aren't actively trading, but even if there's a million NFT holder using discord, there, it means there's another 120 million using discord that aren't NFT that they're, aren't using open C on a monthly basis. So this is, you know, it really puts it in perspective how few people.

[00:16:25] Actively trading NFTs on a monthly basis. And I think that's, it's really important to consider here. You know, there's a lot of talk like, is it over? Is it I shouldn't say a lot of times there's always discussion of, you know, with new, with new technologies of whether, you know, the bubble has been burst, whether, you know, it's, it's all over, whether it was just a fad.

[00:16:44] And I think, you know, when you looked at this, we're seeing that the numbers are growing, but it's still. It's still quite small. You know, at 500,000 users we're talking about, you know, more like a, you know, a relatively successful iPhone app or mobile app of some sort you know, that's, that's what the numbers are at this point.

[00:17:05] And granted, you know, Things that have, you know, you have to actually be spending to be an active user, but that's, you know, that's, that's not that hard. Once people get into the crypto the crypto crypto world and have their wallet ready to, to move some crypto around and into NFTs.

[00:17:25] Yeah. Something like the total active.

[00:17:28] So you're, I think you're, you're right to look at like monthly active, cause there's like people that maybe got dropped one thing and then like left it alone and like ran away. But it's like anywhere from a million to 1.4 million, but in terms of active wallets, it is so, so small that, yeah, like when we were talking about how like, yeah, the liquidity could be pulled out by one project, because by the way, there's, there's only half a million of us running around with E doing this sort of thing, which you know, is a good reminder that this is still very, very new in terms of an adopted technical.

[00:18:04] But yeah, there's definitely hype. There's definitely gonna be pullbacks, but I get to say, like, when I hear from, you know, different people in various podcasts and interviews of like how, when they first realized that this is the ownership layer of the web and how excited they got and how they found these communities, it is a type of excitement that I just don't see, like going away.

[00:18:28] So it's very sticky for the people that get into it and enjoy it. And it kind of like pulls people in, in the same way. I'd say that like it's apt to compare it to a social media platform where it is it's an experience is improved by the, the you know, end of number of nodes in it, right. Extra people in it create extra value.

[00:18:53] And it accrues in that way. In the same way, I think is true for a lot of these discords and NFT. So there is a, a virality, a K factor here that is positive and seems to be trending up. Though they're going to certainly be dips along the way, but you know, it's hard to argue like the run-up that you saw in 2021, continuing, but I think it can easily be done when you look at again, 3.7 now 4 million, like people on a waiting list.

[00:19:22] On, you know,

[00:19:25] the thing I said, the waiting list, the waiting list is now about eight times the size of the number of monthly active users on open. See, that's, that's, that's a lot of people that are waiting to that. And if half of

[00:19:37] them fall into a coma and say, I don't feel like it, that's still four times the amount of monthly active you four times the amount.

[00:19:47] Not necessarily maybe liquidity, but certainly individual purchasing, which gives me more hope for some of those longer tail projects. Right? If the folks that were interested in buying the, like the top tens, like, oh, I've got to get my Zuki. I have to get my board ape. Like they would have already done it.

[00:20:05] I think this is much more about the retail interest of getting into entities in a safe, vetted way. That is not the wild west of openings.

[00:20:13] Yeah. I mean, I think there is, I mean, I think there are a lot of people that will actually end up on open C after trying out maybe Coinbase and empty, you know, we've seen this happen in the past that you know, it can lead people to to other platforms.

[00:20:28] But certainly having a I don't know, a safer platform to try it out on initially. We'll make it a little. Easier for people to at least take that first step and understand what it means to own an NFT. And like you said, once you do own it and understand the, the ownership and the, how that plays in.

[00:20:47] And I think it's so much easier to understand by actually interacting with these. So, you know, I, I do think that Coinbase we'll have we'll have. They big marketplace and a big effect, but I think it will also bring people into the space or into open sea and into some of these other more decentralized, not that open seat is, but these other marketplaces that are maybe not custody such as nifty gateway or Coinbase and make people more willing to try these out after they've had the experience of actually owning one of these in a safe environment.

[00:21:20] Yeah. I mean, obviously. Super cost-prohibitive. So on the contrary to this, like the MCOMP to saying like, look at Instagram, it's viral. Look at like candy crush is 119 million people. Like frankly, the starting point for NFTs is, can be embarrassingly high for certain projects. However, you know, Solano got listed.

[00:21:42] I am the first one to say I'm not a huge fan of the salon ecosystem, but as. Projects of higher quality jump onto that platform, you know, like, yeah, you're going to be able to get in quite easily for like under a hundred bucks and play a different type of game and interact there. And so it'll be really you know, it'll be exciting when it happens and we'll do an emergency podcast and say, oh my gosh, it's happening.

[00:22:06] We have another note in here though, around the total value. So it's like a different way of measuring the NFE market. We're talking about. But how do you look at the sort of value quote, unquote of,

[00:22:19] yeah, you're right. This is, so this is another way of looking at it and this is. Specific to crypto art, digital art, and not necessarily NMT collections, but crypto art.io is a site that tracks NFT art and they value.

[00:22:34] They have an estimate of about 2.8 billion for all of. All of digital crypto art. I'm not that sold last year. Just the total value. So the, just to put that one in perspective, the volume for traditional R for all art last year, including digital was 65 billion. So. We would have seen, let's see, almost 22 weeks or so.

[00:23:03] The, we would had to seek a 22 X the turnover of all of the digital art for it to equate to that much. So there's just a very small amount. That's whoa, a small amount of art, but also a very small amount of value that's currently on on the blockchain and in NFT art. So I think that we're going to start seeing that change.

[00:23:22] I think there's going to be a lot of traditional. Art collectors and art institutions that are moving into crypto in the future. You know, especially as more as more users come in, you know, it becomes a I don't know, any more meaningful piece to hold. And, you know, as you said, that's when the.

[00:23:41] Inflection point in the metaverse will be when these digital goods become more meaningful and more, and therefore more valuable to us than a physical goods. And I think that's what we will see with some of these physical arts are these digital arts over time.

[00:23:55] I just don't see how that isn't the future of this.

[00:24:00] And it's weird. Cause I, I sometimes have to like look for alternative narratives to be like, oh, all of this is going to blow away. Like the wind. It's not going to say. No, I'm not going to save that thing. That by the way, has to sit in a warehouse or behind a screen that you can't ever see, but it sits over there as opposed to like my ability to use this in the metaverse use this in the real, like, I can put it up on a screen here and be like, Hey, here's my art.

[00:24:24] I mean, I went over to the other day. I saw your art rotating the wall, and I'm like, I'm very jealous. I'm going to get one of those things, but I'm gonna get the next version that gives me a little more.

[00:24:31] Oh, no,

[00:24:33] I'm going to get the V2 can get the V2, but I just, I think just to come back to it this is the early adopter stage.

[00:24:41] If you look at adoption cycles, we're in a micro height moment, let's just be very clear, like we're in a hype moment, 90, 95% of, if you look at the top 100 projects gone, go away. If you, if you look for the next five years, will they still be around? And that however, I think in the overall market and then in playing into it saying like, this is something you have to pay attention to.

[00:25:05] And that's what gets me excited about this. And, you know, it's why I got fired up to do this podcast because I think this forces me to do the research and pay attention to it and also stay with it because there's, I will, I will say weeks where I'm kind of frustrated at decisions I've made quite a bit.

[00:25:22] And like, that's the other thing it's like, it really stings. Like when you, you know, you buy a dud horse and you're like, why did I do that?

[00:25:28] Great. I mean, if you think about the fact that anyone can. Yeah, can basically try to sell at any point. And, you know, even in these companies that are, you know, these, these projects that are trying to build something early, you know, it would be akin to someone saying, yes, I'm ready to invest in a, you know, at a seed round.

[00:25:45] And then maybe two weeks later saying, you know what, as it moved fast enough, I'm ready to sell. And that would be, you know, that'd be kind of crazy. Kind of what we're working with in NFTs. So we haven't really had this sort of liquidity to a marketplace you know, and all of these different projects trying to do so many different things at the same time.

[00:26:06] You know, I don't know that there's an apt comparison to look at for for what we're seeing in NFTs. Right.

[00:26:12] I, I struggle, you know, you have to kind of cobble together a bunch to get there, but you know, also saying like, okay, if you're an early adopter, early adopter phase or about to go through a bit of a trough and a pullback fine.

[00:26:24] But long-term like, where are we now versus where is it going to be? You know, you hear me talking about games non-stop and like trying to, you know, guess on soccer, but the smartest thing. Recently is kind of picking up on your lead of, of looking at capital a art versus PFPs things that are created by artists that are really defining the art movement of this time.

[00:26:47] Like I'm still very much long on that. And I think they're, they're getting overlooked. They truly are. I'm really excited. I picked up a Sarah Zucker piece from that Ash chapter two and I also picked up And so, you know, I'm, I'm pretty pretty happy about both and holding on to both for a little while.

[00:27:09] And it's because I know they're going to continue to create. And I think that there's like a moment in time where certainly, maybe it goes up and down, but longterm it sort of epitomizes like a type of artists at that at a moment right now that I hope that like one I'd want to display it. It's. And, and to sort of survive.

[00:27:29] They're like, oh, it's not part of this PFP project that the community went away. Like the community is people that identify this as art created by an artist in this moment, that is a typical of a style and format that was Sarah this time.

[00:27:43] Yeah, I think that's, yeah, that's great. I mean, those are two artists that have definitely shown dedication to their work and.

[00:27:50] I think he can be pretty comfortable knowing that they will be around here, be around in the space. Interesting. Interesting to note the dead fellows artist is also a female seat. So we invested in two of the more well-known females in the in this face. So

[00:28:08] you're

[00:28:09] given a little hint on our next our next step.

[00:28:12] I want to give way too much alpha. Don't want to get.

[00:28:14] All right. So how big is the NFTE market? Keep in mind, very early 500,000. They'll you'll see like numbers, like a million, but monthly active users. What we care about, people throwing things around and a lot more to come. Obviously when, when Coinbase is the elephant in the room, but it continues.

[00:28:31] Yeah. If you were,

[00:28:32] if you were in and if these at all right now, you were early in the space and well ahead of many others, and there's a lot left to come, I would say. So feel free to hop in our discord. We encourage you to up in our discourse yet

[00:28:44] it have some projects. Stop me from continuing to find horse, horse related.

[00:28:48] If you have, honestly, if you can find something that relates to horses and playing soccer or something, please bring it to versus playing

[00:28:56] soccer. You immediately get in our discord at three NFT and you bring that to me right now.

 

Read more

What’s in your NFT Wallet? | Project: Footium

Friday Apr 15, 2022

Friday Apr 15, 2022

  • Screenshot of Jack Dorsey’s first tweet sold for $2.7 million a year ago, now top bid of $300. No official ownership, not created/endorsed by creator of content
  • Sotheby’s new auction is minting old digital works as new NFTs
  • Crypto Art vs NFT Collections 
  • Open editions

Transcript

[00:00:00] Today on all about affordable NFTs. We're talking about, know what you own. That's right. Keep an eye on what's in your wallet. Not brought to you by capital one, but knowing what's in your wallet, we'll, we'll have some fun stories on that one in our theme, but first, Andrew, how's it going?

[00:00:17] Oh, well, George, how's it going?

[00:00:19] Good to good talks. Men of T's today.

[00:00:22] Yeah, it's been minutes. It's been minutes. I was really excited. We had our largest single download day of, I think we beat like 80 80 downloads in one day, which is a. Awesome.

[00:00:32] Cool. Thank you to our listeners. And downloaders whether you're a listening or not, but we appreciate it.

[00:00:37] Yeah, definitely. Of course leave review so more people can find us and we're, we're always chatting in the discourse. So honestly, like we record these in batches. We're talking about it right now in the discord of like what's coming up and sharing more nuance on like all of the products. Usually, and actually have so far only shared outside projects from people that bring it in on the discord.

[00:00:59] So people have emailed us and we have not really followed up that much on bringing in random projects. But if you were in the discord and you're helping us kind of parse out projects and have conversation that's where it's gone on. And that's three a and F t.com. All right. NFT news. I'm really excited.

[00:01:17] I'll just say about the upcoming moon birds drop and it is

[00:01:24] in the

[00:01:24] you're in the ecosystem. You know, that this thing's coming like a hurricane. You know, we could Def we're not gonna get. A whole episode to this at all, but I'm excited because it's a coming off of Kevin arose his work and it's, you know, it's going to be a pretty large project.

[00:01:41] The thing to take away is that it's going to suck up a lot of liquidity based on the 2.5 E starting point that it's going to be minting at. So this is not an affordable project at all. And I may have to break my rule number one of this year already in Q2 of not buying a thing over one eighth, but we'll see.

[00:01:58] Any, any top lines on them? Birds.

[00:02:00] Yeah, I think you're right. That it will suck up a lot of eat. There's still like, Just chatter about it around NFT, Twitter, around discord there, the, the proof team Ryan Carson and Kevin Rose are hitting all the major NFT podcasts except for this one. But that's just because we don't have we don't have guests quite yet, but they did reach out.

[00:02:22] I believe

[00:02:22] part of this card, we didn't let him

[00:02:25] yeah, that's right. You know? No, but I think it really, it, it is, it is going to happen. Impact on the market. You know, initially they were going to do a Dutch auction starting at 2.5 and then realized that if they did that, it was just going to be a gas war because everybody was going to be willing to spend that 2.5 and then some, so they do have a raffle now.

[00:02:43] You know, it is a question of, we don't have. What that four ends up at, in the secondary market. So I think there will be a lot of people that don't win the raffle in are still getting eith ready for secondary. So you know, it'll, it'll certainly have an impact. They'll be some people flipping, but then there'll certainly be people looking to hold that one.

[00:03:00] The proof pod or the proof I'm sorry. The proof NFT collection now is a form of around 90 Eve. So that is. You know, I think that gives some indication of the ease that is kind of being set aside for this upcoming project and the interest that is in this one. So definitely one to watch. And like he said, not, not affordable, but you know, certainly if you do have some extra ether around, it may be worth taking a look at

[00:03:29] yeah.

[00:03:30] This is not financial advice. But also I wonder how much of that is touching on looking at the past seven days, the past week and NFT overall sale volume is down like 45%, which is, you know, kind of, kind of a lot. Certainly, yeah, I think they've read, you know, we've certainly seen, I mean, volumes way up from, from March for the most part, but we S we saw kind of.

[00:03:55] Pick up significantly and then it's plateaued a bit more recently. And I think there is some sort of anticipation of that new project from you know, this guy.

[00:04:04] I remember, there's just not that many people playing this game and they have a finite amount. Right. It's one thing to say like, oh, you know, a couple of people buying into ether, Bitcoin, obviously like there's no.

[00:04:15] No project, that's going to move the needle on that, but in the land of NFTs where you're just talking about like top holders and there's a finite amount of eith being allocated in MTM. Yeah, a new project. Like this can easily vacuum off looking

[00:04:29] at it. You would never say this, like you would never say, well, there's an IPO coming out.

[00:04:34] So that's why the, that's why the price of Amazon and apple has come down or that people aren't even trading anymore because of some companies going to IPO soon. I mean, but it's a very different stage that we're in. And I'm not saying that this is stocks or anything like that, but. One project can really have a significant impact and it's you know, pretty easy to see here.

[00:04:55] Yeah. Well, I'm sure we'll have funny stories of what the heck happened next week on that. We have Metta planet and take nearly a 50% cut on all virtual asset sales in the metaverse. So it took them all. A month to really switch on the revenue on a thing that doesn't even exist. And sort of saying anything sold there.

[00:05:18] I'm surprised

[00:05:19] by this one, honestly, because I had to listen to a podcast recently with a Zuckerberg. He was on Tim Ferriss' podcasts and seem to seem to have a pretty I don't know, spoke about the metamours in a way that was very inter-operable seemed to understand that part of it, but this this doesn't seem.

[00:05:36] The show a very good grasp of what it takes to succeed in web three. And it's not just taking it all for the corporation. You know, we'll see how well this plays out. I'd say this is actually good for web three native companies though, because they have a significant advantage by not charging that fee.

[00:05:53] Absolutely. You want to talk about an advantage that it comes from when you're talking about being a sort of walled garden versus open source, letting people play in your backup. There is a big advantage to having frankly developer friendly fees and rates and not exorbitant and user's levels. And they're, you know, trying to command over apple premiums for the app store, which are you blue, like has problems, but is fair in the respect that like they have a thriving ecosystem and can promote it as opposed to day one.

[00:06:26] Gabe. Charging that much. And you're like, I'll tell you one thing. I think there are enough developers in and companies and founders out there that have been rubbed by Facebook's changes over the years. And I can, I can count the tails cause I am one of them because of things they've chosen to change underneath your footing.

[00:06:45] So at least they're being upfront about it and about that. And they're like, we're not going to rug you. We're going to show you that.

[00:06:51] Yeah, well, that's made me have to come up with a new term for this and you know, something. Yeah,

[00:06:58] I don't, yeah, we'll come up with something clever. All right. Sotheby's launching another digital art auction.

[00:07:03] What is this thing?

[00:07:05] So they've got another, they've got their metaverse platform and they do their options. This is their newest one. And this time they're going to be optional. Digital art that was created before the introduction of NFTs. So we've seen this in the past. I'm always somewhat skeptical of this because it's not it's, it wasn't necessarily created with the intent of being an NFT, but it is trying to create some sort of record of these digital, these digital works that really had no way of being tracked before, you know, if they were really.

[00:07:37] Copied and still can be copied, you know, so I'm curious to see how this goes. But it isn't necessarily what we're looking at. Normally we think of crypto art and art that's generated just for the blockchain.

[00:07:50] So it's this kind of, it looks like validating body in some senses of saying like, what is the official Canon of this artist and the same way that they do that in the real art world being like, actually, no, that's not a Picasso that's, you know, the cost can and it's a fake.

[00:08:08] So absolutely. It's kind of an interesting role that they could play in a, in a valuable niche. I think long-term.

[00:08:14] All right next. We've got this this big auction here. Let's see. We've got he. First tweet from Jack Dorsey was sold for let's see, 1.8 million or so a year ago. It was, it went on sale listed for 48 million with the owner promising to donate 50% of the proceeds to a nonprofit.

[00:08:36] I'm not sure why he was announcing that upfront and sort of, I guess, harder already inflating the price by a hundred percent for the buyer, but it didn't really matter because the top bid came in at just under $300. So from two point or 1.8 million to

[00:08:53] 3.99, I'm sorry, 2.9 million actually. Okay. But like, yeah, that's tough.

[00:09:02] You know, I think, I think he actually had like a, a big gut up to maybe 3000. But yeah, I mean, we'll get that in the know what you own, but you know, buying a piece of history is this buying the piece of history or was it, I don't know if it, if you could say it is it

[00:09:18] was as a reminder, there's no market, you know, you need somebody on the other side of that market.

[00:09:22] Yeah. And I, you know, if it's not endorsed by the creator, the platform, I'm not sure that it has much I don't know that there's much official to it anyway, but you know, if not much of a market right now, certainly. So I don't think that he'll be selling it to any, so

[00:09:40] it's a dumb, it was a real, I actually like maybe he was trying to sell it on the, like a news of Ilan by.

[00:09:46] You know, shares a Twitter at giant Ilan size bites. I heard he put it off for, and for the whole freaking thing recently.

[00:09:52] Yeah. Yeah. That is that's interesting by the time this comes out, who knows that you could either own 0% or a hundred percent sounds like he's willing to go either way. So,

[00:10:02] yeah. So there's that, so maybe that was like, maybe I'll play on this news and he thought he could get a premium on it, but you know, kind of embarrassing and it's also so much different than the.

[00:10:13] Would it be the Sotheby's Christy, whatever, to be worlds where they can be done in private. Oh, we didn't get enough options. I mean, men floor, like this is all out in public. And so like news outlets just, you know, are hungry for the, like throw it in your face type a you fool in

[00:10:27] FTE colors.

[00:10:28] And also they get attacked Twitter.

[00:10:30] That was I not, not, not, not, not just everything that was.

[00:10:33] It's such an example of, of, you know, a bubble has burst kind of thing for mainstream media. And, you know, if you look at the wrong things or look at, you know, the things that you want to, you can always find that story. But, you know, as we know, there's plenty of thriving projects and that I would never have we would never have recommended in our affordable projects anyway.

[00:10:54] So pardon? Imagine Y Y. Which you have decided to purchase that, but you know, we'll see what happens. He'll they'll maybe a flip that for good point bunny at some point or a

[00:11:06] wonderful tax write-off for sure. Yes. Okay. Should we go to an affordable price?

[00:11:12] Yeah. What have you got for us? It looks like you're continuing with your theme and you've moved beyond the stable games and you're into the football soccer games.

[00:11:21] What do you, what do you have for storage?

[00:11:23] Okay. So I do have to give a shout out to a, sort of a small, awesome Zed podcast, a Zed Zed run insights, where I heard a feature on foot diem. So this is footage. Foot I U m.club, footy, m.club. And it's essentially own manage when web three football management. So it's, you know, building on sort of games that have already been out there in the past where you kind of like can build your team and compete and try to move up in divisions and you know, try not to get relegated.

[00:11:58] And in part of this, the, the play here is that you're getting this football club included in it is the. Sort of the, the name and the design of it, but also players and a stadium. And you're able to sort of move up in divisions, starting at the lowest of eight. So right now the floor, just to give you an idea of recording, this is 0.2, 4.24 Eve, and that'll get you a, like a division eight.

[00:12:27] Now, technically what happens is you're going to get players each season there's going to be new minted players into that. So you can kind of develop. You'll play against other teams and try to optimize for different strategies. And you're essentially, if you're, you're getting into this, you're saying like, all right, either one, you're just trying to flip a club that you find and say like, okay, this year is just going to be all about soccer because the world cup is coming and, you know, there may be a whole new rise and interest there.

[00:12:57] So maybe it's a Holden flip on the club or get into it and try to say like, all right, can I, can I try to play this game and move? My division eight team up to a division seven or division six, because that is one of the biggest differentiators on, on price. It's kind of funny. Also these football clubs have what they call lore associated with it.

[00:13:17] And so there's like these full narratives. For example, I'm looking at, you know, something on the floor right now, the wild Stanley FC is a professional football club based in wild. And then you get Fun things like the fans tend to be overly wild or don't cheer very much. And you're like, what?

[00:13:35] The random, so there they're trying to build in some narrative to it. The, you said they got a little bit of funding, correct. Over at footie and recently.

[00:13:42] Yeah, they raised, let's see, it looks like they raised about 3.3 million at the end of March. Including some fun including investors like Anna mocha brands, whose they invested in a number of gaming NFT companies. So let's see another. Couple of VCs in there. And then they've got some angel investors that are more football or soccer aligned.

[00:14:05] So I don't know a ton about the team behind it here, but they are docks and it looks that they have you know, have experience. So that's good to see as well.

[00:14:13] Yeah. And the co-founders are developers very much docs that you can go into their LinkedIn and kind of see what they're doing. There's money behind it.

[00:14:22] You know, hearing from some of the people that are collecting, this is still pretty new in the, in the game and in the ecosystem. So kind of a good time to go in and take a look, see if it's interesting and, and kind of watch how one of these potential groups are gonna grow. You know, there's just going to be so, so many games rolled out.

[00:14:42] And the question of like how what attracts me is how far into the future. It seems like teams are planning for obviously are the docs, but also what kind of progress have they literally made today? I get very nervous and I'll say it again and again, when I see roadmaps that say like, and then game in Q3 and you're like, Nope, not, I'm not going to wait for that period.

[00:15:05] But they are actually, you know, sort of rolling things out and I like to see development as it happens.

[00:15:11] Yeah, of course. Thanks for bringing that up to him. One two

[00:15:13] is George. Yeah, full disclosure. I don't have one. I'm currently saving up for a pointlessly large purchase of potentially a moon bird, but it depends on what they do.

[00:15:24] So I'm not a holder, but feel free to jump into our discord and, and share some, some thoughts if you have it.

[00:15:30] Right. Let's get onto our topic. Know what you own?

[00:15:35] So Jack Dorsey, tweet. Yeah. Jack Dorsey. First tweet, you know, we were talking about it, like obviously, like that's not what we're talking about with regard to like the average holder.

[00:15:46] I would say the average holder, not being someone who. You know, that, that type of bankroll, but understanding whether or not your, your collection is on the rise and what phase of life your, your current holdings are. Like, we talked about those phases of like, all right, where's the project right now? Is it in the hype cycle?

[00:16:06] Is it in the trough of sorrow? Is it in the rebuilding? And that's what I thought of when you had this topic written down, but I want, what's your take on where your head goes with? No.

[00:16:16] So, yeah, I think there's a few different ways that you can that you can think about this. And, you know, I was thinking about this a little bit and understanding, like, what are you actually buying and got thinking about this a little bit with the the news of that Jack Dorsey tweet or.

[00:16:30] The lack of interest in it and thinking, you know, there wasn't that the creator really hadn't endorsed it. And you know, it really was more of a screenshot of the tweet. You know, what does it mean to own that tweet when it was something that was created well before? And if these were around, you don't own the data, you have no access to it, you know, there's nothing there, you only picture of the tweet.

[00:16:52] So I think it's important to, to think about what you own. And that's part of what I was alluding to earlier when I was saying. Buying something that was created for the blockchain, that the creator was making it to put on, to make an NFT. You can be a lot more and it's actually coming from their wallet.

[00:17:07] You can see all these things. I feel a lot better holding that in my wallet. Then someone else saying that I'm going to take something that wasn't on the blockchain and put it on the blockchain or that what, I mean, that's what it was done in both the case of this Jack Dorsey tweet. It's what's been done with some physical works or.

[00:17:28] Digital works that were created before before NFTs. And, you know, I don't know how well that those, those pieces will age because it's, I don't know that you can really just take it to me. That'd be somewhat like taking a painting and saying, well, now I'm the first one to, you know, put it into a photograph.

[00:17:46] Just because it hadn't been done doesn't mean that it really needs to be done or has any value you can because that piece can still just be recreated again. So that's part of what I was thinking about when I'm thinking about this idea of know, what you own. You know, I've got other notes in here about the idea and, you know, we'll get into that a little bit more.

[00:18:05] But that's initially how I go when I'm thinking about this.

[00:18:09] Yeah. I, my head goes to the creative commons that we talked about prior. Do I have the right to, for example, fully own and licensed sell potentially and build there, not that I'm really gonna do it. I'm not truly not. I'm not about to create a whole like branding cycle on it, but that obviously increases the potential value.

[00:18:30] For instance, if you know, Jack Dorsey was really behind this and saying like, all right, you're going to get one tweet. You get, you get to get one tweet from. A year by holding this right there is there's added value to it. Somehow, if it's much more than like, like you said, a lift and shift from web to the web three, I think.

[00:18:48] Yeah. And you know, you're starting to see that with, with some projects a bit more, but saying like, all right, and you get the ownership. So that's like the new sort of table stakes of really people following the lead of board yacht club and how you get has done that. Clearly the. The, the shift they're like, you know, a lot of people are gonna be looking into that as the new standard.

[00:19:08] So like owning all of the rights will be new table-stakes. So the further definitions and explorations of like, what do you own you get in this community? Is that community valuable? Do you like, you know, more of that?

[00:19:23] Yeah. I think the idea of that, even if there is a community, if you're buying, you know, one of the other, or some of the other ideas that you know, are ways that I think about this is whether you're buying an empty collection versus a piece of art.

[00:19:36] I mean, art much more is going to Oh, and not necessarily come with a community or having a community with continued development, excitement. It's probably not going to I dunno to lead to a lot of, a lot of utility. Like, I mean, that's, that's a word that's set up or that's used a lot in, there are cases where art could be that, but it's much more I would say in the crypto art is much more like buying a pizza that you would put on your wall.

[00:20:05] It may go up in value, but it's generally not one that you're flipping or, you know, trading as actively. And I think part of that is because it doesn't have the, the network effects of having. It comes along with a collection, the collections, you know, naturally, you know, whether it's 3000 or 5,000, it's, there's something that connects them all together and connects all the holders together.

[00:20:27] And that that group can grow a lot faster than just just an artist can generally do.

[00:20:33] Fair. That makes that makes sense. Another framing that I had on this is like, in terms of like, knowing what you own at this point, I'm not going to S I mean, you can look up how many things I own. But it's getting to be a lot to keep track of. And so I actually use the, we talked about the school before.

[00:20:52] The w G M I wagony without an a Wagni dot. By the way, the floor price on, you know, the prime membership is actually lower than it's ever been. And I have no clue why, because this tool actually like shows me all of the volume up and down. And so knowing what I own also is understanding where in the life cycle of what I own and where it is.

[00:21:11] So for example, if volume starts pumping, I want to know. If certainly like certain floor traits, right? Because knowing what you own is also knowing the traits and the significance of those traits in relevance to the collection. And at a certain point, you can't track it all if you just an open wallet. So I think there's a certain inevitability to do that, you know, full disclosure.

[00:21:33] I am two of these things. I think it's a good tool. So there's that and also, you know, How, you know, the, the friends, Gary, these project are really kind of pushed this. Like, if you have this kind of trait, you get this. If you have this kind of trait, you get this access, like maybe even to an extreme, but it's very much looking at how even trade specific is knowing what you own and potentially getting, or maybe missing out on opportunities.

[00:21:58] If you don't know what's in.

[00:22:00] Yeah, that's a good point. Looking at those traits and really understanding what there is, you know, there you're even, there are even times where you may, you may have some in your wallet, not think much of it, and all of a sudden something starts happening with that project and you know, good to know.

[00:22:16] And, and you can see that if you do have that tool, it's one of my favorite tools as well. And yeah, I was surprised as well at that. The floor on that is as low as it is. I dunno. I see people talking about it all the time and I know people use it all the time. And it certainly seems late 80 like a goodbye if you are dealing with NFTs on a regular basis, rather that it'll save you a lot of time and probably pay for itself and just getting you to list at the correct price at some point versus just at the floor.

[00:22:44] Yeah. I mean, I already talked about how the tool saved me on party bears from missing out on at least. So the paid for itself done.

[00:22:53] So I mentioned here is the idea of open additions. We've seen a handful of open additions from some big artists recently. We talked about X copy. You know we did that live on the on a show here has been minted in open additions. It's important to remember that these are generally done to give more people access to an artist.

[00:23:15] Inherently not much risk of not much sorry, risk. There's not much a rarity. At the beginning because you know, essentially all the people that wanted it should have been able to mint at the, you know, at the mint price. So there's not much reason for it to, to go up right away, especially if it's a relatively long window fermenting.

[00:23:36] That being said, we did see the X copy floor actually go up to a double right away after that now has come down under. You know, which I think is somewhat to be expected. I think these are things that, you know, give you access to an artist that you're more willing to hold for a longer period of time.

[00:23:51] It's not a collection in the sense of There's no variability to the pieces. They all look the same as the other. So you don't get people kind of trading around trying to trade up in the collection. You know, I would mentioned or sorry, another project that had this recently was a drifter shoots.

[00:24:08] Who's a photographer who his open edition ended up being about 10,000 pieces. I know he's been kind of getting some, some pushback because the the, the floor has dropped below the mid point. You know, and, and that's a tough one for an artist. You know, people are looking for you know, more plans of what's he's going to do and, and things to sort of, you know, either decrease the supply or give more people incentive to hold it.

[00:24:34] And I, you know, I think that's really tough right after the drop, especially when he was giving, you know, he planned the drop. A year from the day he was released from prison and a good a good portion of the I can't remember the amount, but he did donate a good portion to to some prison reform non-profits and, you know, it was doing a lot in that way.

[00:24:55] And I think that. By that kind of peace and open addition, you're getting access to this piece, but also trying to hold this for the long-term to support an artist, continue to be able to do that work. And if there is a, you know, if it does work out, I think there's probably a good opportunity for getting on, you know, a waitlist for another project or being able to maybe even, you know, burn these, to get access to a new piece.

[00:25:18] You know, artists are pretty aware of, of the collectors that. Hold their pieces, generally speaking. And you know, they're all learning as they go here. But I think that, you know, it's important to consider, you know, what you are holding in that sense as well.

[00:25:32] Yeah. Another one we featured a while back was the dead ringers.

[00:25:35] The addition by Dimitri cherniak and that's, you know, below, mid, but it was like 0.05, so, right. All right. I'm like, I'm happy to hold that. Actually it's like but you know, again, there's tons out there and long-term, I don't know. I, I do still, like, even though I'm looking at the max pain and friends sitting below mint I don't care.

[00:25:59] I'm going to hold this for a long time. I'm real happy to have an X copy in my wall. And, you know, it's something, when I, when I finally get my digital display going, I'll be like, I just, you know, have that. And guess what? I think there's going to be a point. This is an artist who's going to be around for a long time.

[00:26:13] He's going to do another one. He's going to do another open edition at some point. And like, you know, a certain. Certain point, you know, like more and more access. So does the rarity change potentially over time because of the date and time at which you did in fact get it? And I I'd say X copy in particular is pretty darn clever about doing those burn mechanics in subsequent rounds when you saw that the last time too.

[00:26:34] And try not to beat myself up about like, trying to like flip certain things at the right moment in time. I was like, eh, whatever.

[00:26:40] Yeah, that's a good point. Trying to time change the time the buy buying and sells of these things is really difficult and it can be done successfully sometimes. Not all the time.

[00:26:53] Yeah. Definitely say, and if you don't know when the price may go up or down, you know, it's tough to just say, well, you know, don't meant to just get it later. There often are opportunities to buy it after mint under the mint price. I wouldn't say it's a hundred percent true, but especially with open conditions, there's usually a chance to get more you know, there is something to the minting aspect that is, you know, you can see that on the chain that you actually minted, it went straight to your wallet.

[00:27:19] Never nobody else held that. There's, there's something kind of, I don't know, to me, there's still something kind of cool about that aspect to it. Yeah. I do

[00:27:27] like seeing the like from X copy is kind of cool. Although technically to get it over to open, see you have to make another transaction. So you kind of lose a little bit of that.

[00:27:36] Like direct as like a little dirty on the. On the chain, but you can dust it off. That's true, right? That's not what you own. Anything else to cap on this?

[00:27:45] No, I think that's it. I'm going to go check what I own a little bit more.

[00:27:49] I check me every day. I genuinely like, I just need to take an eye on it and just be like, all right, what is moving that I should need to pay attention to?

[00:27:56] Because in terms of like, I don't time things, but there are certain things I'm trying to time. And if it's pumping, I'm like, eh, might need some liquidity for an owl problem. I might have soon. All right.

[00:28:07] Let's moving birds.

Read more

Affordable Project: Ash Chapter Two: Metamorphosis

Tuesday Apr 12, 2022

Tuesday Apr 12, 2022

Right to the affordable project! 

Ash Chapter Two: Metamorphosis - Collection | OpenSea

 

Disclosure that we have bought into this project since recording. Early news always shared on our discord: https://discord.gg/fw3nRKDF 

 

Transcription

[00:00:00] Today on all about affordable NFTs, we have an affordable project. What is this? A limited edition episode? Well, here's the deal? Well, let's just be honest. Sometimes we get so excited about the news and the theme, and we've talked so much that we decided to just pull out this awesome project that you found for us.

[00:00:19] The Ash chapter two metamorphosis. It's just very exciting. All right, let's get.

[00:00:24] Andrew, what do you have for us? The Ash chapter two.

[00:00:27] Metamorphosis. Yeah. Yeah. We were discussing this a little bit in the discord. There were a few other people in there as well. The listeners, I assume discussing this one.

[00:00:37] So this is an Ash Ash chapter two from, so it's a collaboration between. Artists APOC Paak pack pack. And he always a struggle with how to say that I was in a number of other artists. Ones that we've mentioned here include coldy DK motion is make some really cool pieces. Those are at a much higher floor.

[00:01:00] Let's see, Sarah, the Sarah show is a one that was in an early Sotheby's auction. There's a. Quite a few other well-known artists in here. Sarah Zucker is actually the name. She goes by BRAF, Rossetti, mad dog Jones. A lot of well-known artists motion and still artists. I fell. I think these are all motion pieces.

[00:01:22] So the floor right now is at 0.27. And like I said, there's a number of different artists. So there's the, the floor is quite different for various artists. The artists that I just mentioned. Sarah, as a Ducker has actually some pieces right around the floor. Very in her style, she does a lot with kind of like retro video and kind of glitch art

[00:01:45] that she does is that

[00:01:46] she, I believe she actually.

[00:01:48] I wouldn't call it glitch sharp. She does. She uses kind of an old recording equipment, old like VHS and recording equipment to make a lot of her pieces of this looks a little bit less looks more uniform than that. I actually wanted to get . Analog press it's video, digital animation, video feedback, and analog processing on VHS.

[00:02:08] So in a lot of her works, you'll, she'll actually show her with like old CRT styles monitors on recording this stuff. You know, I think she's got a pretty cool process interesting here that someone actually has a, an offer just slightly below the, the floor. So see, there is interest in this piece and pocket.

[00:02:28] Is isn't going to leave the, the the space anytime soon. Actually has another dropout right now that uses let's say an earlier nifty piece to make new NFTs and has done a lot of just creative uses of the blockchain and NFTs. So I think that this is one that will be. It won't be forgotten about.

[00:02:51] And like I said, there's a lot of, a lot of cool artists in here. It's amazing. I don't understand this at all. How did all these folks get roped together? I mean, pulled together to do this collection and what is,

[00:03:01] yeah, it's good question. You know, I hadn't heard much about it. And I was a little bit surprised just because I feel like I often get word of some, at least holding things from there, from the discord there.

[00:03:11] Although I have, haven't been quite as active on that one recently, but You know, so he's got some pieces there. Those are a little bit higher for the last I looked at around 0.6. Nope, Nope, Nope. Down to 0.4, but I've been waiting on those one. I've had my, I have a big Colby collector and I feel like I may need to, to add this one to my collection.

[00:03:32] It's pretty cool piece, very much in his style of using video to kind of zoom in and out of a piece, but kind of travel through the piece a bit. It says life is hard. Although I should note that most of the artists have two versions of their pieces, one being the more common version and one, a more rare piece.

[00:03:53] You know, take a look at that when you're looking at, you know, if you are looking at these, you know, in case in case a holder, doesn't quite realize what they have. I have seen some people miss. Some assets maybe just not quite realizing that they have the more rare version. So take a look at these.

[00:04:11] They're not flying right now, but there's definitely interest the floor has moved, or I should say the floor, the, the volume has been pretty, has been fairly significant and a lot of pieces have been snatched up. But you've got. That'll look through these a bit, figure out which artists you're interested in and kind of look at the various floors at, for those artists.

[00:04:31] You know, like I said, it's about 0.2, seven floor right now, overall for the collection. And there's a couple at that price. Like I said Sarah Ducker's down, there is one that sticks out to me. And I'm sure there's some others there as well. So who, who

[00:04:45] curated that, who curated

[00:04:46] these artists? I assume that it was pock pack again.

[00:04:50] Sorry, I don't know which way to say that whoever is behind that. And I, you know, I don't know if that's a team or a single person. It is a, you know, that is an anonymous artists. I assume that they, they reached out and actually worked with all of these artists to put this together, but it's an impressive list.

[00:05:07] Let's see. There's 30 different, the who's

[00:05:09] who of like collections that I like artists that I've been trying to like add. Slowly over time. And it's so hard to find individual artists across so many platforms now and buried in and hidden in a lot of these collections. This is really exciting here.

[00:05:25] Here's like an activity go to this project. The, the Ash chapter two metamorphosis go through the artists and just research them because each one has gotten. Sorry, I'm going to withhold my current statement. Just say everyone, except for no offense, Paris Hilton, which I put a pause on. There's a lot of who's who in like a really great artists in terms of the narrative of old-school and FTE art with a capital a and this, this,

[00:05:51] yeah.

[00:05:52] And I think it's really great to, it's a really great representation of. I mean of a huge array of artists and it's the pieces are so their style. I mean, it's pretty obvious some of these, they just stick out to me as being that artist and definitely learning some new ones here, but the ones that I know, I mean, they've done great pieces just because it's a, a collaboration or a, a collective collection here definitely doesn't mean that these artists have given less effort.

[00:06:20] Really cool pieces. I like the art here, I think gets I think that they, there is a good possibility that or a good light say possibly it's very likely that the artists are going to stick around and be interested in the collection. Won't be just forgotten about over time.

[00:06:36] I definitely agree with that.

[00:06:38] Cause guess what happens in the next collection somewhere? And then over time, there's going to be, I have to believe right when we get more cross chain and more ability, there's going to be better ways of looking at an artist's sort of work as a overall collection together and being pieced together.

[00:06:55] And how those are, how those are curious. Then, you know, you get into that sort of 10 year horizon of saying like, all right, where, where do you see things going? And that's another narrative that I've picked up from you. Definitely. It was like, don't forget the capital capital, a art. Thanks. This is epic.

[00:07:11] Full disclosure. Do you own any of these

[00:07:13] yet? I do not own any of this yet. You know, some of these moved quickly while I was traveling, I kept looking at them and kept seeing the pieces I wanted to do for gone, but going to have to go back through, I think it looks like a. Some prices are coming back down a little now.

[00:07:27] So I'm going to keep my eye out and maybe put some bids in. I mean, this is the

[00:07:32] big, biggest difference between like, Hey, we've got a plan game coming and here's my PFP. Like this is just not that. And it tends to be like a little counter cyclical. And when money gets sucked out into these other products, You see, like a lot of actual art dropping and frankly, I, I own some and you own a lot, and I've watched some of those numbers being like, okay, I don't get it.

[00:07:55] This is like, you know, a hackathon piece or, you know, this is a Colby piece. I don't understand why. I mean, like, I don't really care. I'm holding it for awhile. I mean,

[00:08:03] Yeah, we'll see what happens. But I do think there's artists have been getting a lot of attention recently with some of these drops being a park.

[00:08:12] So few, a few OSHA's has had a big drop. We saw copy. You've got a couple of those. Yeah. You got a couple of those. It's interesting. The price has come down quite a bit. 1.7

[00:08:24] and came right back down. It's that mint like you can

[00:08:27] get in on it. Yeah. Yeah. So th that is interesting. I'm sure that there's going to be opportunities there.

[00:08:32] And that is one, I don't know. I like seeing the artists are doing some of these these other projects, and I like that because like you said, they stick around if people that have proven they just going to drop a project and leave and, you know, I think there's also a possibility that these could be used for future drops in some way.

[00:08:49] Oh, interesting. I mean, it's chapter two. What was chapter one? Was there

[00:08:53] a chapter. There was carbon, I believe was the

[00:08:58] name of it.

[00:08:59] Chapter one was quite carbon. So yes, I don't know a lot about that one. Actually. It was. I believe it gave you access to this drop early. And I don't know if that actually made other ones, the other drop that he has outright now. Mass, I believe it is it's. I started. The mechanics of that one. And that's, that's interesting, it's based on the earlier crop, but then you put these together based on the number that you have at the end of Mensa, new NFP.

[00:09:30] So a lot of interesting things going on with what he's doing there. And, you know, I, I, like I said, I don't know that these will be used in a future one or not, but I do know that he's come back to, he, she. The artist's bay, they will go to the kid like puck, puck pack, canning sticks. All right, you're going to, you're going to say, I'm going to help So back to our, to the projects.

[00:09:53] So I th I think they're cool pieces. Go check it out. We'll have a look in the notes.

[00:09:57] Just, I mean, I looked up the Ash chapter one carbon, so the current one is Metamora chapter twos, metamorphosis, and like Ash chapter one, carbon four is sitting at 2.5, a lot less sort of diversity of artists, for sure.

[00:10:11] So I think the, the next one really let a lot of. Uh, Folks into it and then the activity on that you know, pretty, pretty steady I'd say. Yeah. And that came out you know, call it late January. Thanks. Very cool project.

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