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

Trickledown NFT Ape-a-nomics and Historic Value

Monday Apr 11, 2022

Monday Apr 11, 2022

Theme: Trickledown Ape-a-nomics
How does historic significance affect value?

 

 

 

Transcript

[00:00:00] Today on all about affordable NFTs, our theme trickle-down economics, essentially. How does historic value actually get impacted? And how does that significance plan to Andrew? It was going, what do you see in the news?

[00:00:15] Yeah, I think this is a good topic. We have seen a lot of, a lot of movement in different projects ever since that ape token was dropped.

[00:00:22] And it's been interesting to see where it has fallen. So we'll get into that a bit more during the show here. But let's see to start off. We've got another shot or another headline with open. See all we've always got something going on with open seat. And this one is in case you haven't noticed yet they have rolled out credit card payments directly on open sea.

[00:00:44] So you no longer have to have already purchased your crypto somewhere else. You can actually purchase crypto, right. Or purchase the NFT via. A credit card similar to have nifty gateway and some other platforms do it to open. See has this. Now it's been out for a little bit. You may have already noticed this if you've been on the platform.

[00:01:04] I don't know. I haven't taken a look yet at how if that's actually if you can see this on chain, I assume that there, that this must be visible on chain, but it's done in different ways. So it would be interesting to look at how much it's being adopted by users.

[00:01:18] Yeah, I'm curious. I mean the moon pay application doesn't actually serve as a wallet.

[00:01:24] You still need your own wallet connected. So there's no custodial element, but what this also does, it's not just a small payment feature, but think about what a credit card is. It's buying on credit. It's not the same as saying, Hey, I have to actually have these assets in the form of ether west in my.

[00:01:44] Wallet it's. I am going to borrow money from a financial institution to make a transaction here that I have to pay back in 30 days or pay a, an APY on. It's interesting.

[00:01:59] Very interesting. Yes. We've seen a lot of discussion around this, on other platforms other. Robin hood comes to mind. So it'll be interesting to see what happens here.

[00:02:10] Yeah. I mean, it makes me a little terrified. I may just never do it because I gotta be honest. I'm one of the ways I stopped my fricking FOMO and clicky clicky of just running around and buying stuff nonstop is actually a throttling. The amount of these that is in my wallet at any given point and, and just, just taking it away from the hot wallet and moving it to staking or moving into other places so that I think.

[00:02:33] I feel like, oh my gosh, here's an opportunity. But only for now, now, now, and having my credit card attached really removes friction in a way that I don't think helps the the inner demons.

[00:02:43] Yeah. That's, that's a dangerous one. I am likewise going to stick away from a connecting that I do have ways to spend my ego as it is.

[00:02:53] And don't need to add to that.

[00:02:55] All right. We have how the FBI made its first NFT rug pull bust just in time to save other would be victims. So reminder rug pools, meaning the founders create a thing. And then they just run away with the money after making many, many promises. And in this case, it's a couple of 2020 year olds that they found are not facing.

[00:03:19] Criminal charges in Manhattan, federal court for scanning investors under the NFC project. Frosty's w it looks like 1.1 million from NFT buyers, and then they just abandoned the.

[00:03:31] Yeah, actually a relatively small rug full we've certainly seen much bigger ones. But you know, they left a lot of evidence around and made it relatively easy for the FBI to catch them.

[00:03:43] And it seems like they definitely want to make an example here and hopefully it is a warning to others that are doing the same, not to get into this. I'm sure we will see some other busts similar to this. In general, It's tough to, to cover up all those digital tracks. And I think most of these, most people weren't necessarily thinking that they were going to need to do all of the cover up when they got into it.

[00:04:10] So they, they likely have some leaks out there and we'll see similar from other rugged polars in the future.

[00:04:17] I here's, I got to say it like I smile when I see this type of regulation kinda come in because if you. Predators like this continue to proliferate and profit from the NFT market and people that are still figuring things out.

[00:04:31] It hurts the overall ecosystem. Like the truth is you do need oversight. You do need some form of punishment, not just like, oh, too bad. You should have known, like should have known what that like taking a bet on two unknown founders that created a thing and they were. Young when they did it, didn't have a past record.

[00:04:49] A little thing called you know, the board eight gap club came out of a similar start. So you're betting on limited information and promises made by folks. There is punishments for false advertising for falsely representing a product. In addition, And this is just sort of making it a touch, more tangible.

[00:05:06] And for the other folks out there that people that are planning on saying like, oh my gosh, what an easy way to rip people off. I feel like it's a little bit like the early days, early, early days. Facebook follow me on this where I was, I was like one of the first colleges in there. You were one of the first colleges in there when we were at our age and Facebook rolled in and we didn't realize taking stupid pictures on spring big, but actually be associated with a professional identity down the road, all tracked, watched, and saved and recorded.

[00:05:35] That's what's happening on the blockchain. Now, if you are being a jerk at scale, like in thinking you can just roll into your next project, there's a and they're on the blockchain and it's very clear that there's a long memory here in the same way that like making those mistakes are, are hard to cover up.

[00:05:52] I'll be honest. Maybe we should go on Facebook now, take down some old.

[00:05:54] Yeah. I mean, I think there's a lot more people looking at these things, a lot more people looking for ways to, to find these people. So it's not even just the FBI, but there's people out there looking at these and, and voting people to next projects that people may be connected to.

[00:06:12] So definitely a good to see that Action being taken against people like this, because I think making the industry safer will attract more people to it in the long

[00:06:21] run. Yeah. I mean, the truth is when you piss off 2000 people, you've also added financial incentive for them to destroy you, find you and bring you to justice.

[00:06:32] I'm looking at the Frosty's NFT and there's 2000 folks that bit into this one. And like, it kinda is.

[00:06:38] All right next on the list here of our headlines. We've got, let's see, we've got Liverpool, the soccer, they football club, Liverpool soccer, they sold 10,000 NFTs. Isn't that great, George.

[00:06:51] They sold out. They, they there's a, there's a.

[00:06:53] Oh, they were trying to sell 171,000 NFTs and they sold 10,000. So not so successful in that light. I have no idea why they would start with 171,000 as their first drop, because as you can see, 10,000 would have sold out, they would have had a success successful drop and stead.

[00:07:14] It's looking not so successful. And I can't imagine that they're going to mint out. Rest of the 161,000 of those. Anytime soon I could be wrong could have changed by the time you're hearing this. However, I doubt it.

[00:07:27] Yeah. Fans were not happy accusing the club of trying to exploit them. It did seem like a lot of the money or a portion of the sales were definitely going to their LFC foundation.

[00:07:38] But again, it's, it's very clear when you, when you push it too soon or you don't. Your base in the right way. They see it as a, as a cash grab instead of a, a stake, a stake in something that connects them with the, the team and the brand there's ways to do it. It's a waste to not do it, but I mean, that's an aggressive start, your first drop.

[00:07:59] I think we can push 171,000 in these things, the market size of people that like Liverpool's about a couple. Yeah. I feel like somebody did. Forgot to carry the one in the total addressable market game.

[00:08:13] Yeah, it doesn't, it doesn't look good now for moving forward with that project or any other projects when you've got that on on the blockchain.

[00:08:22] Yeah. And I'd like to see that it makes me sad too. Cause again, I am long soccer this year. That's right.

[00:08:28] Yes. I have

[00:08:29] not brought that up at

[00:08:30] three episodes. The recurring theme George has moved on from, from these stable games to re reminding us of soccer games, soccer, NFTs,

[00:08:40] soccer entities. Past project news.

[00:08:43] I was very excited because the red village, the other week, I forgot to mention this, but the red village launched tournaments, you can now play with those figures, the red village being a project that we have had, and we are both a full-disclosure owners of these little champions who then go beat each other up in the ring.

[00:09:01] I'm just happy to see a team finally get to launch. And I see this again and again, where there is a game launch date set and it just, you know what? Surprise games are. Hard games on blockchain are also really hard because we're also saying there are financial implications of them, but they have launched.

[00:09:20] I have actually fought with some of my some of my champions. We haven't had any big wins yet, but I am not deterred. And it gets me excited gets me excited for that project, but also puts in the back of my mind when you see a date, just add three months and then consider what that does to the assets.

[00:09:38] Yeah, I think that's a good point. The game development we're seeing is a much more timely production than, than most of the projects predict. And whether whether it's red village or cool cats or any of these games nifty legions we're seeing that these take a lot longer than anticipated and.

[00:09:58] Crypto unicorns. Eluvia like, there's tons of these things I'm watching. I'm on human park. There's like a little bit of a delay. Another one I'm watching is the crypto bots. Obviously we're both folders. There are, I'm a holder there and there's delays like it's it it's it's part it's.

[00:10:16] Yeah. And unfortunately I, it doesn't seem like any, like, there's a, like there are many teams taking the, the step or the approach of, let's not say anything and then just deliver the game.

[00:10:28] Th th we haven't, I guess the people that have been doing the most of not saying anything and delivering something is The yoga, the yoga team, but we haven't seen a game from them at this point. And I don't think that they would be one to say, it's going to come on made first and then fail to deliver on that.

[00:10:45] That's something they have gotten, right? They haven't set dates, set expectations, and then missed on those. And we are seeing a lot of teams do that. And that's, that's tough to keep people interested in. Happens a lot, even if you end up delivering later on,

[00:10:59] I don't envy the marketing teams and the marketing planning going into this.

[00:11:03] You have X number of marketing dollars say to spend, and you have got a sort of range of time. So the question is, when do we start? All right, we should start now in anticipation of this window or this range of a game being launched. And suddenly you, if you've blown through a lot of your marketing mechanism, pulling people in, you've gotten people really excited and expectation, and then you're dealing with this trough of production.

[00:11:26] Where the real data production then just eats into all of that momentum. And so when you don't get those Dominos aligned and it happens a lot, a lot, a lot it's, it's tough, but also I, I view it sometimes as like a, a test, your conviction and buy-in then so even if you sort of miss the mint and a lot of these games there's another project had been watching traverse actually, which is similar.

[00:11:49] Like I was I almost like eight, 10 to the initial drop. I realized they didn't plan a game until Q3 launch. And I was like, tell you what I'm going to check in on you this summer, see how you're

[00:11:59] doing. And I think that's a important aspect. With these games, if you are interested, there's probably going to be a lull where there's going to be a good opportunity to buy because.

[00:12:10] Unless it's a completely bucking the trend. There's going to be a delay in the delivery of the actual game. And we haven't seen any any team not take that route at this point. It's hard to not do the mint when you see the opportunity to go. Get the money to do the development for the game.

[00:12:27] And it's, it's tough to deliver a game. So that's the order we're seeing it happen. And for the most part, but it doesn't mean that mid price is often I dunno, not the floor in the at least medium term.

[00:12:40] Yeah. All right. Let's talk about our theme, trickle down economics, which is just a sort of joke at the the ape economy.

[00:12:49] We all now live in, in the NFT land where 25% of all of the area based, I guess activity, roughly speaking is under the good old UGA labs with a board, a yacht club and punks and me bits and and all of the projects under there. But. Think about it though, when someone is buying in what's what's the floor at, for board apes right now,

[00:13:10] like close to a hundred.

[00:13:13] Oh, I believe it's over a hundred right now. Thank God, 15 or so it's some, some absurd number over 300,000. Yeah.

[00:13:22] So when that amount of money is sort of in volume and floating around, just in that ecosystem, it has a sort of a gravity to it and it pulls money into its own orbit and the hope. This is maybe what we're starting to see is that as people begin to take profits and diversify, so for example, maybe you're holding a few of these assets worth hundreds of years.

[00:13:45] Maybe you take a beat and say, you know what? I can't help, but notice a lot of these apps are being targeted for hacking attempts or who knows what's coming, take the profit and roll it back into other long tail projects. The next sort of round of. Of board apes, right? I mean, the truth is if you own a board ape, it'd be one of the best investments in recent history.

[00:14:06] Had you found it at the beginning because of the multiple, when you have multiples like that? I think there is some narrative that saying like, all right, let me like take the profit and maybe look for that next round, because clearly I was smart enough to find it once and it had an absurd model.

[00:14:23] Yeah. I mean, there definitely are people rotating out of these. We've seen we've seen some other big name projects shoot up in price. Pretty significantly lately. Zuki is one that comes to mind the price, the floor price there got as high as 30 at one point, I think it's down, back down to 20 some odd at that point, but there's a lot of projects now that have really.

[00:14:46] The uh, is over 20. And I think that is it's it's some people coming in, but I think it's more often people rotating out of some of these, these really big projects and maybe it's selling out of them, but I think it's, it's often people may be diversifying if they have multiple apes, if they we're, we're fortunate to buy those at the right time it's certainly certainly worth selling it at a certain point or at this point, and maybe looking at some other projects and I think the F the first place to look when, when you're selling those, isn't looking at the tiny projects there it's, it's pretty significant.

[00:15:20] It's a significant amount of youth. And I don't think that most people want to go and buy a lot of things under maybe half an and it, after selling a 110 each piece, so there's still a lot of people willing to buy. These other pieces that 5, 10, 20 Eve because they can, that's still diversifying quite a bit from, from holding it all in one single piece.

[00:15:43] So know, I think we're seeing a lot of people rotate into those trickle down to these other projects. And you we'll see how much of that continues. Like I said recently we saw the, the highest number of sales in a single day. So I think that is telling that maybe there's more going on than, than just.

[00:16:03] Projects we're seeing those four prices rise, but I think we're starting to see volume kind of trickle down to other projects. And it's, it's, it's kind of easy to assume that that the same thing will happen from these, these other projects where a 25 eats sale is all of a sudden split into smaller projects.

[00:16:21] And so.

[00:16:22] Yeah, you see this sort of the next tier. So you move from the shopping at the top the top 10 to the next 10, and then you get in the land of like you have your MF offers and Adidas, a world of women galaxy. I think you own one of those.

[00:16:38] Yeah. Th that was the one that just dropped.

[00:16:41] So that was their second part of their drops. So yeah, that's when the worlds of women, I think that's gone, I believe that's well over 10 at this point. And I think seeing people kind of connect to some of these stronger brands that have continued to deliver and I think that's what we're seeing with the world of women with with Zuki.

[00:17:00] And I think they, I can't remember the name of the the airdrop that they just did, that, that grows to a. I don't know, over five Ethan value. So in an associates needs associated projects, I think people are looking at someone as the, the mutant ape version of the the board apes looking for projects that are connected to the, the big brands that are delivering and realizing that it's these teams aren't just limited to one single project.

[00:17:24] If they are able to deliver they're going through. It's a community. So we'll continue to grow and add value and not actually dilute over time.

[00:17:32] Yeah. I mean, You're saying that the trickle down is really just looking at that next tier. And you think that when people are flipping the larger projects, they're still looking for that type of historic significance, but also executing team, cause there are overlooked projects. I happen to own a lot of them. Cause it's my narrative thesis aside from games that involve horses and. Soccer this year, but it's about the, sort of like the moon caps, moon cats in crypto bots that just like, I'm like, they have historic significance to sit in there, but they're

[00:18:07] sitting, that's a good question.

[00:18:09] Does seem like historic significance if it's not held much value. At least in this rotation of projects it's, it's been going to to newer projects. Like Zuki, like Ms. Firs and a lot of practices have been

[00:18:24] like,

[00:18:24] yeah. Like 10 that that has continued to have to move up where I think that's up in the high freeze now as a floor and.

[00:18:31] But a, I I think, I think part of this is we're seeing teams learn from the other ones we're seeing from ones that have failed in the past, but we're not seeing much value attributed to historic projects. And there could be a couple of reasons for that. One is if they haven't had much success in, in marketing their project for a long time it's hard to imagine that.

[00:18:54] It will all of a sudden start clicking. And they obviously would, would have a challenge with a relatively inactive hold their base. It's people that aren't there's not a lot going on in these projects, so it's tough to kind of light a fire. So we're seeing these active teams that come in and there's a lot of excitement and they can ride the momentum and continue to deliver value.

[00:19:19] Those are working right now. We've talked about how that, that can you can run out of momentum. But at this point, I think that the teams that are there behind the projects. Where these profits are being rolled into where or trickled down to have largely delivered in their teams.

[00:19:38] They aren't individuals, they aren't maybe projects that just were happened to come by and mint on the blockchain. They're pretty well thought out. And they've learned a lot from the projects that came before them. And so it's hard to see that these will that are just rotate on from these two other projects that maybe are overlooked.

[00:19:57] Yeah. And I, I think the problem is we're looking at the irrationality of this week in NFTs, as opposed to this decade and what I mean by that there was a an interesting thought from milk road last week, and then. Articles saying that only about 1.4 million users have boughten in a Tiana open sea, which means 99% of the internet has not bought an NFT.

[00:20:19] They posit that what percent of internet users, people that are savvy, regular interacting on the good old interwebs will buy some kind of NFT in the next 10, 15 years more that's the answer. And there is a report. The, like we stopped, we stopped with the hypobaric, but the Coinbase NFD platform has 3.7 million users on the waiting list.

[00:20:45] I'm going to just put that in context again, real quick. 1.4 million users have bought an NFT on open seat. There are 3.7 million users on the Coinbase waiting list for the NFT market. There.

[00:20:57] That's that's a big number. That's a significant number. And I think there, you can make an argument that anything that's already there can hold significant hold historical significance to, to a new user.

[00:21:08] And the, the difference between a project that came in 2017 with it hasn't and, and in 2021, or may not be. As big as we think it is in terms of the significance. And there's a big difference, I guess, in, in the approach that the teams have taken. And certainly the momentum that a 2021 project could have versus a 2017 project.

[00:21:35] And at this point, the strongest early project is crypto punks. And we've seen that, that. That has struggled. Certainly that the historic value narrative there has, has failed to keep up with, with board apes and it's not even close. So we're seeing that in other projects as well.

[00:21:53] And I think that's something that we didn't seem. Crypto currencies when we've got these layer ones that come along and, and maybe steal some of the, the shine from a theorem for a time, for a short time, at least but then it does come back to with your hands. So it's tough to say what is going to play out over time and NFTs.

[00:22:11] But I do think that we have, you have to be a little bit wary of assigning value, just due to historic significance. As we're seeing that doesn't with most of the, the, at least the. Profits, it doesn't, it seems to be rotated into newer projects that maybe are more influenced by board apes than by crypto punks.

[00:22:30] Yeah. At a certain point too. It's you're sort of testing your, your, your thesis and I, the immediate project that comes back to I come back to like moon cats and they continue to press forward. Right. They're still pushing stuff out there. And. Their, their team is certainly docs and known they were at it.

[00:22:49] And since 2017, we talked about it as an affordable project. It had a this sort of perk up and down and it's it's a little bit down right now. I'm like do you double down on your thesis or do you like start shopping for something new? And that's kind of like a tough call.

[00:23:05] What do you think?

[00:23:05] And there's been some. Some more active discussion in the discord there. There's been some some maybe unhappiness among some of the discord members there, but it's not just in that project. It's eat moon. Cats are sinking. Cool cats. There's people grumbling about the a lot about the, the price, a lack of action.

[00:23:24] Both of these have both those projects have talked about games that have yet to be released. Moon cats has been upfront that it's going to be a very long time until the game. Is actually released. Cool cats. On the other hand was supposed to release the game, I believe in January. And it's still not.

[00:23:41] I think, I think they have it in testing.

[00:23:43] That's the, that's the production trough. It's like you get it. I really think you do a moon cast. I was like, look, we're trying, but it's.

[00:23:50] Cool. Yeah. And moon kids has also admitted they're not great at the marketing side of things. And that's been a challenge for them over the years.

[00:23:58] And that is a concern at a certain point the marketing is necessary and you can't just expect people to do see the significance of this historic The historic importance. If if people aren't paying attention that historic importance, isn't going to demean a whole lot, especially if another game is doing it much better I'm not saying that it doesn't hold value.

[00:24:19] I just, I get wary when I see teams kind of delaying things and people getting wary in Cuba, getting concerned about the lack of delivery. Yeah. What, what is to keep the bill around there? I guess it's is it just their

[00:24:34] certificates? Here's a, here's a brutal, what if for you, because you're a bit of a whale out there and you have owned a crypto punk at one point.

[00:24:43] And me that's as well. Here's here's the trade off. You can technically buy, let's call it 10 moon casts right now. Or you can buy one MF, right. And MFR is in the teens right now for a top price. Maybe it gets some trickle down love. Maybe it's like the next one to go from like definitely hyping to like absurd hype.

[00:25:02] Or do you say like no, no, no place in like a attendant cat bed.

[00:25:06] Yeah. That's a, that's an interesting one. So what would you do? Yeah, I'm, I'm thinking, I think.

[00:25:12] Yeah. He filled me in a tough position here. I think, you know that, I think at this point it'd be tough to at the end of the day, it's a little tough to buy right now at that phrase. I think it may be a little high up close to four, so, oh man, I guess I would take the boom cats. You're making me say that.

[00:25:31] Yeah, no, it's right about, so the floor price from him is 0.38 and the MFS is yeah. 3.3.

[00:25:38] Okay. Those have, does it come down again to three, three, those keep bouncing around I couldn't see. Going higher. I don't know that. I see that as being, I dunno, a project that gets to some sort of 10th floor though.

[00:25:51] Yeah. I mean that's so you just nailed it, right? Like what's more likely to happen. Moon cats get to call it one ear or like 1.2 eats or an effort to get to 10,

[00:26:03] I think it's more likely that moon cats. That.

[00:26:06] And so I think it could be, you gotta be patient. But I feel

[00:26:10] so much cooler because I already have a Mooncup it's just much cooler with the M effort, but you really, I think it's important to run that thought experiment because you can get blinded by the, like the, the forget around opportunity costs.

[00:26:21] Like there's a lot of, there's a lot of NFTs, Andrew. I don't know if you realize that.

[00:26:24] Yeah. That's two out there. Huh? Several. Are they making more?

[00:26:28] Thanks for humoring, my wife. All right. I think we nailed this. I think we nailed this topic. I'm no smarter than I was before, but I might be, I might be looking if moon cats drop below a certain amount, I may go get some.

[00:26:40] All right. Well, good talking. And if you're listening, leave us a review, give us a five stars or, or come let us know in the discord why you want to do so before you leave a rating.

[00:26:51] Yeah. If you're not going to leave us a good review, don't stop listening.

[00:26:54] You should stop. I think we're going to kick off the show with asking for a rating next time, because 'cause, I think nobody's

[00:27:00] listening. All right. I'm going to go rate us. I'm gonna go on by Andrea.

Read more

The Coinbase Opensea Effect | Project: Martian Premier League

Friday Apr 08, 2022

Friday Apr 08, 2022

 

Solana listed on Opensea opens up a new market in the same way that altcoins getting listed on Coinbase help pump their value. Is there a play? But how to balance this with the fact that 26% inflation occurs on Solana annually and Avalanche is 9% annual inflation. 



Transcript

[00:00:00] Today on all about affordable NFTs. We're talking about the Coinbase open C and F T effects. We just made that up just now, just for you. Andrew has.

[00:00:10] Going well, back in our normal recording scheduled George, it's good to, good to talk NFTs again. I feel like

[00:00:17] people would probably really missed us and we had a, I gotta say I didn't appreciate the aggressive schedule of the Monday, Wednesday, Friday until like we were both traveling for a week.

[00:00:28] It it makes it very difficult to stay on top of crypto news and also record. So I'm glad we're back. Yeah.

[00:00:35] Yeah. I mean, it's tough to stand up a crypto news. Anytime you take a day or two away and

[00:00:41] things, it's disturbing. I feel like it's, when you take that break, you realize how much, no, sadly or truthfully time you're putting into like looking at all of these things, because when you don't do it, you come back and you're like, oh my God.

[00:00:55] What's what's an internet. What's what's it been to?

[00:00:58] Yeah, it's a lot of times Dan, on top of these things.

[00:01:02] Yeah. But real quick at the high level, from the, the past seven days, it looks like NFTs up about 27% and there are certain projects that are taking off, but again, it's a lot of the power law, a lot of the common names you see moving and the long tail shrinking, but there's a couple of new, new folks moving up.

[00:01:20] Yeah. Yeah. We've definitely seen some big, big volume it seems to, at least as we record this, it seems to maybe topped off a bit. But one thing I've noticed is the number of sales has been climbing. It was the, just the other day was the most sales in a single day that I've ever seen and NFTs.

[00:01:41] So are at least on a theory and based NFTs. Not just, was it a big volume day, but it was. Well, so a lower average price and we've seen in the past, but that's, I think that's a good sign. I think the number of sales is

[00:01:54] that's a fantastic

[00:01:55] sign, probably a sign that more people are getting into it.

[00:01:58] I didn't know, to take a look at the the number of wallets that day yet, but but I think in general, if we're seeing more trading it's, it means people are going to see this as a more, see project is more viable to continue to get into and be able to get out of.

[00:02:12] Okay, what else do we see? We have open C just said they're integrating Solano, NFTs and ape.

[00:02:19] Yeah. All right. So, so wanna MTS, we haven't talked a lot about this, although we have talked a little bit about cross chain raising and we have not talked much about Solana NFTs. It's a big marketplace and they're coming to open sea. And as you've mentioned, that's an exposure to a lot of people with a lot of an FTE capital.

[00:02:41] This is a chance for sort of at least merging markets and for better or worse spoken, see is the. The leader, it's the town square and all copycats. It's also important. Well, sorry, copycats, maybe unfair. Other marketplaces will probably see this and realize they have to follow in suit that there is more than one hub and, and pulling them all together will spread that sort of larger larger, long tail of individual purchases.

[00:03:08] So they said sometime in April, I don't see an exact date though.

[00:03:14] Yeah, I don't see an exact date either. They did say in April. So I think that's, we can, at this point, assume that sooner than when Coinbase, when Coinbase NFT actually a marketplace that actually begins our debuts. Since we haven't heard much on that front in a long

[00:03:32] time We're going to be sort of looking at this, I think a bit more in our, in our theme.

[00:03:38] So I don't want to run too much of the conversation on that. You want to get into the real stuff with Gwyneth Paltrow, we always have to have a celebrity.

[00:03:45] What's going on here. We've got a few of them here. Don't worry. We've got . So there's an article in the Washington post, just discussing how they're pushing women to invest in NFTs.

[00:03:53] Kind of looking at, I'd say that it's not all positive here. Kind of looking at how they are pushing women to get into this in the name of feminism and maybe. Maybe it is that, but there's obviously an ask of invest your, your crypto in these products or investor money in crypto and then in these NFT projects.

[00:04:17] So I think it is interesting that there that there are are I think it's great that there are people trying to push more women to get into NFTs and crypto. We certainly see some projects that are more women focused do quite well. At the same time, I hope that it's being done in in the right way.

[00:04:37] And know, I think this article is at least worth a read if you're interested in in sort of the gender split in NFTs and crypto.

[00:04:45] Yeah. It I think you can, you can kind of tell when they're like pulling in the, the question marks and the truth is not all the projects. People go after are gonna go up, but hopefully it's more about the narrative of how to approach investing, but also the truth is there are creators.

[00:05:03] And if the market is only white males of a certain age range, and so too, will the projects they focus on. And if it's really going to be. A large inclusive environment. There has to be sub-markets and in this article they're comparing it to like designer high-class handbags saying like, no, I'm trying to, and starting to look at my NFT collection, like just things of status that I want to have and and own.

[00:05:26] So, it's it's interesting. You're right.

[00:05:28] All right. So we've got another, of course, a celebrity in this headline here, we've got the Tom Brady led autograph bio platform partnering with ESPN. So I'd say that's a pretty significant partnership for this platform, adds a lot of credibility. And I think with both fans and athletes and it seems like.

[00:05:47] At this autograph platform is is developing well, getting a lot of attention. And you can't ignore the Tom Brady name there again. You George.

[00:05:56] Well, you can, if you're Vitaly booter and. Doesn't know who Tom Brady is a

[00:06:03] good bird. I think he does know now that he knows he's a fan,

[00:06:06] now that he knows he's a big fan, he's like, you're the, you're the, you're the goat.

[00:06:11] But yeah, ESPN getting into it very clearly. It's not fully clear to me how they have a multi-year deal with autograph, but they haven't like bought the company. Right. It's still on their dislike saying, okay, we'll be pulling in these elements, but it's definitely gonna add credibility.

[00:06:29] Which is, it's the only word I feel like that now matters when you're talking about sports and professional athlete, likenesses that are being bought and sold and hopefully held over time and retaining value. So that's not a bad partnership.

[00:06:44] Yeah. All right. We feel a little more sports headline here.

[00:06:48] We've got major league soccer. They've partnered with so rare. Hey the existing an empty marketplace or platform for soccer. So they're doing a fantasy game now with between major league soccer and so rare. So I think sports are a great onboarder for people to get into NFTs and crypto, and here's another opportunity to to do so.

[00:07:11] Yeah, I'm all about soccer this year in particular we talked about that. The last one, the wrapped strikers, which was a, a project that we brought up before, and maybe it's a smooth segue, a rare, smooth segway into an affordable project. Am I doing it right in the middle of a sudden segue? Oh, here we go.

[00:07:32] Watch this. Well, thanks to first off, one of our members in the three, a and F T discord block bounce for, for bringing this one to us. But this one is the. NPL official. The Martian premier league is a collection of 10,000 at unique human and Martian characters living on the east block chain. And they are part of what's going to evolve into a football manager style game holders, train, trade, and compete, and the league and over time.

[00:08:04] There'll be a full evolution of it. It's a fully doxed team. Current floor price sits at 0.09. And so it has seemingly dropped from when the release seemed it was mid-March. It was I guess hovering from what I could see as high as 0.28, but it is at 0.09. There are 3,500 owners, which is actually a pretty decent distribution.

[00:08:28] I like that. I get a little nervous sometimes when it's a low percentage of owner, an item or item to owner ratio. But that's that's pretty good.

[00:08:37] Yeah, this is one I've heard about. Hadn't had a chance to check into it a whole bunch, but you know, was actually excited when somebody else mentioned it because in our discord when it was like block balance mentioned that because it is one that I had been interested in Yeah, I think the soccer narrative is a, it's a good one as well.

[00:08:56] Oh, it's nice art here. I think there's a good possibility that soccer becomes quite popular in an teas this fall with the world cup. And I don't know. Do they have, is there a game planned with these or is it just a collection? Do you know that George? Yeah,

[00:09:13] there's a, there's definitely a game planned.

[00:09:16] They've got a very robust. Frankly, white paper, pretty darn impressive. And then. Sort of like, this is just the first iteration and there's going to be a sort of trade in of these initial MPL characters have a whole funny narrative of saying like, all right, that'd be acclimated to and socialized to train and develop new players.

[00:09:36] And then each player will be able to like complete in these like marching cups find space to build the first stadiums in Mars. So hint, hint, land. But those get into Genesis teams and stadiums and gen one players. So it starts with this first PFP that then moves into these an L two I don't know, the look up,

[00:10:00] can't find it, but there is definitely a game.

[00:10:04] Oh, yeah. Taking a look a little bit more. Yeah, we've got 3,500 holders, so there's little less than three per holder. This one like price has come down a bit. It had gotten up to about 0.2 for a bit, but has now been. 0.15, and now it's dropped a little bit, the 0.08.

[00:10:21] So I don't think it's a bad place to to look, to pick it up. I, I think it's a practice that has been somewhat overlooked as some big projects have. I've taken a lot of volume and, and even some big drops have taken all of the. The, the Eve that was meant for drops, whether it was through the gas or they'd been to prices recently.

[00:10:42] So so I think this is, this is one to watch and maybe pick up at a very affordable price here.

[00:10:48] Yeah. Getting into it. There are 9,000 humans, 1000 Martians. It's unclear. I mean, so clearly the marshals are more rare. They've already been quote, acclimate. And there's going to be a sort of like discovery.

[00:10:59] It seems around figuring out like, who is good at what position as you get your your players in place. There's a footie token planned Mars governance token. So they've got a full economy planned for this and. It's it, it is affordable right now. How it I would say like take a look at the different rarities for that paying attention to specifically that, like, are they a Martian or are they a human?

[00:11:26] So parsing through the Marshall premier league, we're trying to figure out the traits and just to like help you, like, we're just like talking out loud they already talk about the we said the human versus Martians, they've got a character type which you can filter by. The human floor is hovering around.

[00:11:45] Call it 0.1, say, and then the Martian the Martian based floor 10% of the population. They're hovering at 0.18. The other thing that seems to be more sensitive though, to the rarity price, really, because they're going to be soccer players is the skill level, which ranges from novice up to God.

[00:12:07] So novice passable, solid, excellent, outstanding, legendary. And there's definitely some price sensitivity on those. So like the way my mind goes is I'm not just going to buy raw floor because I'm used to playing games and I'm aware of what the base base is. So I'm kinda like scouting out with that like outstanding level.

[00:12:26] Maybe human is or maybe floor marsh and I can't tell which way to go. And then it seems like there's a timeline consideration too, right? The timeline consideration. I'm not sure what you mean by that. Is there a date? I'm sorry. Yeah, they do say that the, the training camp starts in may. So the Mars training camp starts in may.

[00:12:46] They have mentioned that the, and I think you mentioned earlier that the Martians are already acclimated, so it makes me think that maybe the humans will need to. Acclimate via staking or something like that, to be able to play acclimated to the the climate in that, on Mars where the games are being played.

[00:13:04] So the, the marshals may just be eligible earlier to play. And I think you're right to look at some of those skill levels. Especially with a, I know it's a relatively thick floor right now, so there's not a huge difference in price between some of these levels. Definitely worth paying attention to that skill level.

[00:13:21] And looking at, I think the what is it? The character type is the the other trait that we're looking at as far as human and, and so only about 10% of these are Martians. Most of them are humans. There's a handful of, of astronauts, which I'm sure are praised at some astronomical level to, to go along.

[00:13:42] Yeah. You liked that. It's a powerful dad joke. The astronauts astronauts are at 1.58 is the floor for an astronaut. Although I don't know how you play with all that gear on. I'm not, I'm not bullish on astronauts. I'd rather I'd rather get some, some excellent humans or outstanding, maybe. All right. Cool.

[00:14:00] If I were founded that's the initial take I have on.

[00:14:04] Yeah, thanks for bringing this to us block balance. Definitely a good project to look at and hopefully we can discuss it a little bit more in the discord as well,

[00:14:13] actually. You know what screw you black bounds. I'm so frustrated with the, by another stupid soccer thing.

[00:14:18] I thought it was done buying soccer things, but this is interesting. So.

[00:14:21] Well, we have different opinions, block

[00:14:23] it out on me and discord okay. Onto our theme, the Coinbase NFT effect. And this is just a fun way of saying that if you are familiar, Coinbase and the ecosystem there, then you are also familiar with what happens when an alt coin gets listed on Coinbase and gets frankly access to a lot of potential capital that's floating around on, on that platform and can pump it's a sort of legitimising moment where they're saying like, oh, okay, Coinbase did some bedding, and now this coin is listed.

[00:14:59] I'll move into it versus. Even more speculative of the speculative not listed there. And so the open sea and Ft fact is following on sort of that news of Solano getting listed on open sea opens up this new whole market, but also is a nod saying, Hey, you can shop alongside of it now. No open seat already has, as far as I know.

[00:15:23] The theory. And then the layer two polygon layer, tuition polygon listed there on, on the open seat platform for you to interact with. And that's it for right now is that.

[00:15:34] Yeah. And I know there's been talk of other networks or at least talking to users of, at looking for other networks. I think there's a lot of talk among users of asking for Tezos or and that has not been announced yet.

[00:15:49] I haven't heard anything along those lines. So this is the first New platform, but it is a significant one in terms of volumes. So you can definitely see why open C would be interested in introducing salon NFTs. That's a small percentage of, of the, the the trading volume. There would be a lot to add to their bottom line.

[00:16:08] Yeah. So, I mean, that gives me some extra thoughts on saying like, okay, so Lorna salon is moving on there. But we have seen initial increases in reports saying that a lot of the floor prices, especially top projects on Solana are beginning to get some, some new life on this expected new. I'm always a little wary of the sort of like, oh, and then we get listed on this market and then everything is sunshine, rainbows, and butter cakes.

[00:16:38] I I've seen, I feel like that sort of hype and hope get, get broken a little too often. Like, what I have seen work is like slow, smart, grinding over time with individual products, projects. Bringing bringing that attention and, and utility because just opening up, I would say to the new open seed market won't necessarily drive that, that attention into into those projects in the same way, or maybe such a, such an increase.

[00:17:06] Do you agree or disagree with that?

[00:17:08] Yeah, I absolutely agree. I mean, I know for one that I'm not going to be rushing into salon NFT projects, even. Even with me. I wouldn't say that I have an assumption that prices might rise, but I guess if I knew that prices might rise, I'd still have to price in some security risks of going to Solano and not just security risk, but the risk of.

[00:17:29] Of other people reacting to perceived security risks on real pursuit, but real risks of security on other networks. We've seen this with the recent Ronin hack. We've seen it with other cross chain bridges before we've seen it. We've seen it with Solano actually. And I think there's, there's a risk to, to moving your assets to to a network like that and moving it off of Ethereum.

[00:17:55] I mean, There's multiple that the urine provides more security. There's a lot of potential around the the upgrades that are happening to the Ethereum network this year. And I think anytime you move off of that, you risk missing out on the benefits of Ethereum. So that for me is still going to be an issue regardless of the accessibility I have been willing to go to other marketplaces to other networks and give them a.

[00:18:24] Anyway I have not tried Solana and that has been one of the big reasons this, the security and the security risks have been a big reason holding me back from doing so. So this won't change that in my perspective. I could certainly seeing the accessibility changing people's mind over time though.

[00:18:42] Yeah, I hear on that. The other thing is I think when you're in, you're playing on. So Lana, for instance, you, you have to realize that annually, there's just natural inflation of the actual soul, which your NFT is priced in, and that is appreciating or inflating, I should say. And fleeting at a rate of around 26%.

[00:19:05] And that's based on the white paper, that's based on them making more sole over the year to fund right, sell to investors that underwrite the, the, the work that they're doing. And so that is as soon as you move off of Ethereum, you're kind of playing. With this game of wait a minute. If I had bought or even held a hearing, right?

[00:19:27] Like I think it's going to become, if I does hell this amount of money and Ethereum, would it be what I'm doing over here? Maybe, and frankly, an FTS are so much more volatile and if you're right, you're really right. And you can have multiples we had, in that previous episode, when a hundred percent is a loss like doubling up, oftentimes it's just not, not even enough.

[00:19:47] So the, the thing that mentions in my mind, I have to say like, just holding this. So on an NFT is going to depreciate at a rate of 26% in terms of its value. It's got to crush that just as a starting point. And if we're on avalanche, by the way, if that's coming up, it's 9%, it's less. So knowing that inflation rate for your underlying currency platform, that your NFD is on, I think may start to matter more in how you're holding it.

[00:20:12] Yeah, absolutely. I mean, I think there's, I think there's real. Risks with moving to any other network off of Ethereum, when you start thinking about it that way. And I shouldn't say any other network, but you have to think of each one in the case of preventative presents, but you know, for me, the inflationary nature of Seoul versus.

[00:20:32] What we're coming up on is actually a deflationary period for Ethereum, most likely. So that's, that's a big difference. And I think there's, there's a potential for a real catalyst in the price of Ethereum. Whereas I'm not necessarily sure that. That Salonica can, you can continue to sell tokens at a higher price with continually with more supply available.

[00:20:59] Yeah. And especially if they're their big thing is like, oh, we're lists. And here's the contrarian view saying like, oh my gosh, all these things are. If your gas list and suddenly you're like, oh, here's our big advantage. And you're on open seat and you're sitting next to that polygon, which is also by the way, gaslights.

[00:21:14] And then maybe Tezos gets in there. Maybe avalanche gets in there and you're all sitting next to each other. What is this sort of like unique advantage? Because the whole thing is how do you support and find that secondary market that can transact. And then it's more about the underlying quality of. The project and what it is promising and delivering, I'll say promising delivering for, for its audience.

[00:21:38] Yeah. Yeah, I think there's, there's a potential that the initial exposure to open sea could lead to some, some price increases. I think there's also a potential that, that, that it may already be built into the price at this point. And even people just looking for Looking we're speculating a bit that it will continue to pump.

[00:21:58] And I think that there's a lot of people ready to sell when the open seat integration comes. So I keep an eye on that as well that it's, there's initially going to be a lot. There's going to be a lot of action, I would think right away. And I don't know. We'll see how sustainable that is over time.

[00:22:16] This is the first new. Non a non Ethereum based network that open seat is introducing. So it is it's a bit of a change for users.

[00:22:25] It is I think it, yeah, it's a good one. I think overall. Yeah. A lot of people will sell the news when it comes to. And yeah, I don't see myself getting into Solano based NFTs.

[00:22:37] There are some on other projects that I keep watching. I'm like, I continue to wait in terms of like that moment. I felt like a couple of weeks ago I was like, all right, I'm releasing my, like my big idea projects and the price is low and we're ready to go, but I don't have anything cooking on salon. I have, I have some thoughts on Tezos now.

[00:22:55] Yeah, I think

[00:22:56] there's yeah. I shouldn't say it. There's no other, no other networks that have quality projects. I haven't looked at Solanas projects enough. I'm sure there are quality projects again, that's that's not the biggest issue for me. And with the number of traces out there on other networks.

[00:23:12] For me, it's just easier to focus on, on networks that I trust more than, than Solana with and getting into a new ecosystem that presents a whole new basket of options.

[00:23:25] Yeah. Well, cool. I think this is an interesting one to watch for sure. And that, and that Coinbase open, see NFT effect.

[00:23:34] We coined it. We coined the Coinbase open sea effect on this very podcast. So enjoy it using good health. Hopefully it helps you actually find some, some good ideas that maybe we missed. You know what we love being proved wrong. Drop us a note. And the discord, if you've got you, like, no, no, no. I'm a DJ and on Solano and that's the way to go.

[00:23:54] Like I'll, I'll, I'll hear the case.

[00:23:56] Yeah. I'll tell us where I'm going wrong. I'd love to hear it. I mean, I don't know enough to take the other side of this one at this point, but, and I haven't heard a convincing argument, but I would love to hear it. If you are that person hop into the discord and tell us.

[00:24:11] But be prepared, bring more than it's gasoline because I'm aware. All right. Thanks man.

[00:24:17]

Read more

Unchain my NFT - Mulit vs Mono Chain NFTs | Project: Gh0stly Gh0sts

Wednesday Apr 06, 2022

Wednesday Apr 06, 2022

  • Gh0stlyGh0sts is first omnichain NFT, which means pieces can be moved across Ethereum and Layer 2 networks. Gh0stly Gh0sts - Collection | OpenSea 
  • Multi-Chain: Many projects using multiple chains for their projects to gain credibility then move to less gas-intensive layers, eg. start on Ethereum, then introduce an aspect on Polygon (Red Village) 
    • Users must change network in wallet, hold various currencies in order to transact
    • Meebits DAO had to issue small amount of Matic to all members in order to delegate votes - which required a vote
  • Cross-chain will enable users to forget about the backend - ie what network the assets are on. May require projects/platforms to pay for fees for the sake of providing a better user experience

 

 

 

 

Transcript

[00:00:00] today on all about affordable and FTEs Unchained, my NFT Omni chains, verse multi chain. We're excited to be talking about this topic. The first Andrew, what are we seeing in.

[00:00:12] Yeah. It's it's been a little longer than usual since we are recording here. So we've got some, some news to catch up on George.

[00:00:20] Yeah, we both took a little break. We took a break for two seconds and then we're like, well, maybe

[00:00:24] well, you know, it was a, you know, an extra day or two and whew. There's a lot that happens. So yes, some big news here. We've got a big time act.

[00:00:34] One of the biggest crypto history, 625 million. And this is very NFT related because it was on the Ronin network, the network that backs ACCE infinity. So 625 million. Taken this was from users' accounts essentially where they had parked their Eve using it on them, using it on the road in network.

[00:00:56] So they, the Pronin team has come out and said that they will reimburse all users here. So that's good, but it is a, you know, it's worrisome that that this can happen apparently five of the nine I'm sorry, the five, five of the nine. I'm forgetting the name now. The

[00:01:15] We're taken over.

[00:01:16] So they put some, they put some extra provisions in there for extra security. But yeah, that is big time. They're going to take 150 million or so from Binance to help reimburse people. But I assume they have the rest of it available that is still going to hurt. One part that is sort of funny about this is the hackers.

[00:01:38] Shorted the ACCE token R I'm sorry. Yeah, I think it was the ACCE token on before the news of this came out in the news did not actually tank the value as they expected. So they did get stopped out of those positions. So that is kind of funny of flow. They are doing quite well with what they were able to get away with.

[00:01:59] Well, I mean, yes and no. What, what they got away with, as I understand, was moved to FTX, which was, and is a control bank for crypto, Right. That's not a decentralized movement wherever. So I'm not quite sure what the plan is because that stuff could get frozen pretty quick. I think it is pretty remarkable that that amount of sort of, you know, theft doesn't really impact the price.

[00:02:25] Yes. There was a drop in, in Ronan, but it like spikes back up on April 5th and it's, you know, back down, but it doesn't, it wasn't a collapse. Right. It might as well have been an Elon Musk tweet and things kind of kept rolling.

[00:02:38] Yeah. Yeah. I guess it was the Ronin network. You're right on that one. Yeah. And it was surprising. I've spent a year. At least it has been a pretty bullish crypto and NFD market as of late. And I think it's, you know, in that, in this kind of environment people are willing to overlook even a major hack, like.

[00:02:55] Yeah. And it's the question of how do you calculate that sort of unpriced risk of a centralized network? Decentralized, right. You're just mentioned there were nine tees that controlled this thing, as opposed to a decentralized network where it would be millions of keys or millions of nodes. And it would be very

[00:03:14] There we go.

[00:03:15] very difficult to do a sort of whatever 51% takeover, you know, it's scary.

[00:03:20] It's a wake up call for, for these other side chains and another sort of plus one to a theory based and layer two. Based pieces built on a theory. I'm not saying that they can't be hacked, but this was a brutal one.

[00:03:33] we'll get into one of the problems with Ethereum and FTS and just a second here, because we've got Vayner sports was just minted yesterday. Surprise, mint and gas. These spiked to insane levels. They have a little. What's it called widget on my, on my browser. And all of a sudden I noticed it was up near 3000 at one point yesterday when it's been, you know, in the fifties and two digits for the most part as of late.

[00:04:01] And so there was over three times the amount spent on just the gas fees then as the mint fees and this one just failed transactions all over the place. So a pretty terrible drop here. That is, you know, that's the beauty of Ethereum. So. You know this, I don't know why people are willing to put it through.

[00:04:19] At that point. It's got to be, you've gotta be thinking it's tough to make a profit when it's a 0.1, five eith drop and you're spending four or five you know, many times that on, on the price of gas.

[00:04:32] Yeah. So the total take-home numbers, just to put it in perspective, they made about call it 10 million on the mint of 15,000 NFTs about at that point. Five five Ethan amount. And the total gas.

[00:04:46] was estimated to be at around 25 million.

[00:04:49] Yeah. Well, I had heard, I had heard some, some significant figures that I'd heard even a little bit higher than that. That is. Wow. No matter what it is. 27, 20 5 million on gas. So there are problems with drops on Ethereum. It's, it's not perfect, you know, layer twos definitely solve that issue for the most part.

[00:05:10] You know, and, and it's still not, it's not where most people are. Most projects are willing to launch. What's sort of interesting is the Vayner, some of the teams behind Vayner sports have. They've done drops on. I believe on a mutable in the past, which is a essentially gas lists of layer two. And you know, for this, they, again, chose to go with Ethereum, you know, perhaps they thought that the the surprise aspect of it may reduce gas fees.

[00:05:39] But I think in general, those we've seen that those often spike gas fees and, you know, getting into. It's been a bull market and people have been much more willing to jump into projects then maybe a couple of weeks ago.

[00:05:52] Yeah. I'm pretty surprised by this too, because I feel like Gary Vaynerchuk and the, you know, the Vayner Vayner media network is trying to position themselves as the expert in all things, brand sport and NFTs. He even launched his own of course, very popular V friends, as well as a number of other things.

[00:06:13] And this is, this is a sort of unforced. That hurts and erodes brand trust in a way that I think is like antithetical. You know, I know a lot of his work is antithetical from the way he does business, but you can't just sort of say, oh, we'll make everybody whole. I mean, maybe they can and just eat it, but even still remember, they only made 10 million people spent two to three X more on the transactions and.

[00:06:42] You know that's a problem and it's a problem in the architecture.

[00:06:45] Yeah. And I know that there's, you know, I know Dutch auctions. Aren't perfect. And there's been, there's been a lot of talk about what the real Dutch auction should mean. You know, I think there's, there's been a push for. For that to mean that everybody ends up paying the same price, being the final price, which would be, make it much more fair than I think most of them are handled right now.

[00:07:05] But the one thing that does do is give people a chance to spend more on the price of the mint, rather than just spending it on gas. And if someone is willing to put in. A ridiculously high gas fee to get a mint throw. And I think there was a max of four pieces on this. So, you know, maybe, I mean, I would at least prefer that to be going towards the project that I'm investing in than to just gas fees.

[00:07:30] You know, I I'd rather see that that ease is captured and use towards adding value to the project then than just wasted on gas fees to jump in line ahead of somebody else.

[00:07:39] Pretty clearly pretty clearly it has to be done in a different way. And you know, I'm sure there going to be more articles out about how they're dealing with it, but. You know, pretty, pretty ridiculous, and also just kind of stinks, right? Like burning that, you know, goes to, where does that money go? It goes to minors and it just goes into the ether ether.

[00:07:59] Right. It actually disappears. And I think when it moves to proof of stake, it'll actually be a little more interesting and actually make an aggregate help. I think the larger Ethereum network more than it frankly does now, which feels like it goes into a black hole of say,

[00:08:14] Yeah, one note about this it's I believe the project is led by AIJ Vaynerchuk, which is a. Which is Gary's brother. I'm sure Gary is involved in, in many ways as well though.

[00:08:26] Yeah, fair fair. I assume with the brand and association, but Yeah. good point. Good. Now. All right. You have Britain

[00:08:34] Yeah. One word.

[00:08:34] to mint. Oh.

[00:08:36] Yeah. Oh, no, just about this or go on yet. So we've got Britain, they've announced plans to Benton NFT by this summer. So they want to become a crypto hub. They announced this all in say at the same time, if they want to become more of a crypto hub and have released an NFT, I'm sure they're getting backlash for this.

[00:08:56] You know, anytime a major public entity announces NFP plans. Always a lot of controversy around it. So I can't imagine that this will be accepted without pushback as well. But it is, you know, it's interesting. I think it's a, it's interesting that they're trying to get into crypto and I think there's been a lot, a much wider acceptance by regulatory bodies to look at crypto as not this thing to keep out, but rather, how are we going to work with it?

[00:09:25] How are we going to embrace this? You know, I, I certainly am not recommending anyone to go mint this NFC, as soon as it comes out or

[00:09:32] the affordable project of the

[00:09:34] But but I, I think it is, I think it's great to see that that governments are more welcomed towards being more welcome towards crypto at this point.

[00:09:42] Yeah, it's a good sign. I'd say overall for the NFT market and acceptance and more predictable that's I think the big word, like a predictable future for regulation rather than, you know, wait a minute, we're going to take away all the, you know, potential here. We're going to ban it outright. It seems to be much more on the adoption curve along the way.

[00:10:04] All right. Well, let's get into, well, I think we can, we've got a bit of a cross between our affordable

[00:10:12] We murdered them. Cause sometimes we forget,

[00:10:14] This week. So we're talking about Omni chambers, multi chain. And one of the reasons we're talking about that is the new project that has launched those sleep ghost ghosts being spelled with a zero instead of an O in both words there, this has just launched.

[00:10:29] It is claiming to be the first Omni chain NFT and by Omni chain, it means that it can be transferred across from Ethereum to layer twos, to optimism, to polygon, to And there's a couple others that it works with a kid, sorry, like an off the top of my head. But so you can actually move this across.

[00:10:49] So if you want to, if there's a future where you could maybe play a game with us on polygon, you can put it there. If you want to verify your profile on Twitter, you can put it on Ethereum. So you can, there can be different use cases for it on different networks. As far as I know it is the first Omni chain.

[00:11:06] It's the first NFP that can do this. In the past we've seen. Projects, primarily mint PR on different chains to have interoperability between them. So this is a little different in that the NFD itself is moving, is moving between these chains. So essentially you're still parking it. It's a bit of a bridge for the NFT to do this.

[00:11:28] So this. It's a bit pricey right now for an affordable project. I believe the floor is around 0.4 as we speak. Let me take a look at that. 0.4

[00:11:39] Point for too. So it's, it's come down a little bit. It had gotten I believe up over 0.5 at one point. But I have seen it talked about a lot and I don't know that this will necessarily be the project that takes, takes hold of this Omni chain or cross chain sort of narrative that, that I think could become prevalent in, in NFTs and crypto for a while here.

[00:12:03] But I think that. It's at least worth watching to see how this does and see if, if this does catch on, if you know, before it continues to fall, you know, maybe this, this is a narrative that isn't that important to people. However, I think that with the rise of all these layer twos, we're looking for ways to, to work between them rather than have them as as, as so prominent within the project.

[00:12:28] I don't think that it shouldn't necessarily. The change should dictate so much of the project. The project can move between these. So if that does catch on, I could see this project doing quite well. Same time. I, I, I could see ghostly ghost just paving a path for other projects to to do the same thing.

[00:12:46] So I be on the lookout for other projects that are following this bottle. They certainly won't be the only one as we've seen when new trends catch on. Spread quickly. And and it's not always the first mover that does succeed, I would say as we've seen in many projects or the past year,

[00:13:06] Yeah, this is interesting. So the discord I just popped in, it's got about 3000 members, 1000 active, and the number of men contracts that you can kind of chase it down on, goes from like Binance, avalanche, Arbitron polygon chance and optimism right now is pretty darn impressive. And then there's like,

[00:13:26] Okay. That actually, I think I misunderstood that it's not just layer twos, then there are even other layer

[00:13:31] Yeah, no, no. It's it's Omni chain. Given the fact that you can get to avalanche, which is a different layer, one yet Binance,

[00:13:38] Binance. Okay. That's yeah. That's, that's interesting. And an important note there, I would say that it can go across not just a theory and base change, but to other chains.

[00:13:47] Yeah. And they, they talk about it being different than currently. You can use NFT, a tool called wormhole, apparently that will sort of like, hold your NFC and like a lockbox, call it in a contract and then give you a synthetic replica and the destination chain. And you know, this may be a risk of hacking there as we've seen with bridges before.

[00:14:09] But this, you know, they're, you know, they're claiming their white paper to be the the first true. Omni chain and Ft and moving it back and forth. So actually, if you were to buy it and you wanted less gas, I would buy it on, let's say polygon, right? Like you can check calling on for, it is going to make it kind of like, I don't even know what the floor is then.

[00:14:27] Right. Because I

[00:14:28] That's true.

[00:14:29] looking at an Ethereum floor, so I don't know.

[00:14:32] That's true. Yeah. I'm looking forward to more tools that do work across these networks do, because this is going to become a bigger, bigger issue that, you know, there's going to be braces that are on different, different marketplaces, different platforms. And you're gonna have all over all sorts of places to check, to find a real floor price.

[00:14:51] I'm going to, I'm going to full disclosure. I don't own any of these. I think it's gonna take me some research to do it. Also I'll note that like their white paper and the website is technically a post on medium. So I, I want to see a little bit. About, you know, the, the team of what's going on behind the curtain, I think before I pull the trigger, but I think it's I think it's interesting to do your own homework and.

[00:15:11] Yeah, I think that's important. We're not 100% recommending this, especially at this price, but I think it is worth keeping an eye on and is not. It could be an indicator of, of, of what is to come for other projects as well.

[00:15:25] So when we're talking about multi chain to this like theme of Unchained, my NFT, there is a not too distant future because it's already kind of. Where many projects are going to be able to move across multiple chains. And maybe that's from sort of inception that we just talked about to the, you know, the tools I just mentioned like warm hole, but in effect, we just talked about how that Vayner sports lost an incredible.

[00:15:55] Of gas for its customers because they chose a very expensive platform to mentor. Now, hypothetically, let's say you had chosen a polygon, right? When you met there and say, look, you can bridge it here. We built a tool to Bridget, go on. Now it's on Ethereum and you have the cachet of being on Ethereum.

[00:16:13] You know, what that looks like is, is going to open up a lot of potential and maybe decrease the prevalence or. Importance of Ethereum as, as a full network. If you can move between chains potentially.

[00:16:26] Yeah, I think that's it's definitely possible that maybe we don't care as much about Ethereum. And I think one of the, something that I'm looking forward to is the user not needing to care quite as much about which network it on a project is on and have to switch between it. You know, I think there's a lot of.

[00:16:43] A lot of technical aspects that the user's exposed to right now that seem unnecessary. You know, not, I'm not just talking about the fact that you'd need to use a wallet and all this, but then you've got to switch between it and have, have a currency on the right network and make sure that you have enough of the currency to keep transacting, because otherwise you're just going to be stuck without it being able to move anything on.

[00:17:04] There's just a lot of issues that come up and you know, I think this is, this should be pushed to the back end. So I'm looking forward to when, when it it's, there's not so many hurdles to just trying to use another network. It's, it's already difficult enough to use it, to get it in FDS as it is. And, and putting it on the user to, to to figure out how each of these different networks is a lot to ask.

[00:17:30] Yeah.

[00:17:30] it's tough to move to. I mean, Yeah, absolutely. We're we're only at a fraction of total people owning. And FTE something like 1.4 ish million. I mean, it depends on what stats you're looking at, but if you were talking about what gets mass acceptance, it's saying that like, well, wait a minute, you know, I bought this, you know, this non fungible element and why does it matter what, what chain is on?

[00:17:53] And I think those, those pieces are going to get better. I think there are security risks with sort of the, you know, when you're bridging with a tool like Warhol, If you are also considering the platform you want and the, like the overall security, we just talked about the Ronin hack. Let's say you'd move it onto a alternate layer one.

[00:18:13] And I dunno, say all of the Ethereum bank accounts get, you know, its underlying cash gets taken. What does that mean for your asset? Well, I don't know. You can, you can move that back. What does it mean for did that technically have a pricing event or a repricing event? Does that have a tax implication?

[00:18:28] I have probably more questions than answers when it comes to it. But I do think the, the future of NFT ownership is one where moving it across as an asset is made easier. I also believe that it will increase the potential value of based and FTS when they can come into the highest liquidity pool, which is, if you're in minutes, I had a topic we'll get to.

[00:18:54] Later. So I think that may open up a door for additional value in terms of overall marketplace purchase power for these alternate layer one projects.

[00:19:07] Yeah, that's true. I mean, it is, it is still the biggest liquidity bullets where most people are trading NFTs. You know, I know that there's some other networks. Have growing NFT marketplaces, but at there I am still the biggest. And you know, that's the reason that I think we're seeing projects still launched there, despite the gas fees.

[00:19:26] It's, it's where most people are. And if they're willing to, they're willing to spend the gas, you know, it's, it's where you want to go. I think one of the reasons is that it's relative, there's still a lot of hurdles to using layer twos. There's a lot of people that don't quite understand what it means to use layer cues, to use other networks, you know, Once, I dunno, I hope that once those issues are maybe not completely resolved, but they're made easier to overcome.

[00:19:52] You know, I think we'll also start seeing people get into these, you know, I think that could be, you know, if it's just using, if you can use the same tools that you're already using and access more of these other networks and not have to go through and kind of figure out the technical side. I think that there's a very easy avenue for new people to start coming into these other projects.

[00:20:11] And like you said, that can add value to the products that were at least originally on other genes.

[00:20:17] Yeah. Well, there's also another aspect, which is the strategy that red village, the red village took with and dropping their initial sort of token access path. Called the blood portal and then they're, you know, their bones collection and then saying like, all right, now these will give you access to the drop or the mint on polygon.

[00:20:38] Right? So they have the sort of high level, a theory I'm based to add that credibility. And then they move to the, the low gas gas lists, a polygon or secondary chain. And, you know, maybe that's stretching. Goes away, maybe it doesn't, but that seems to be the most logical if you're trying to like, have your cake and eat it too in that sense, but you're still changing wallets and networks and it's a bit of a headache.

[00:21:02] Yeah. Yeah, absolutely. I mean, it's not, that is the way we've seen it done a lot. I don't know that it's I don't think it's the way it's going to persist over time. I think people are going to want to be able to move the actual asset and not have kind of a key on one chain and the asset on another.

[00:21:19] Yeah. that makes sense to me. And then you have a mention here that me Bitstamp also had to issue a small amount of MADEC to all members, to delegate votes, to require a vote.

[00:21:28] Yeah. So they've used Maddick for voting, you know, which is interesting, but you know, they did have to actually distribute Maddix. So it didn't cost much. And as I mentioned, when you go on these other networks, you've got to have enough of the token that the you know, that they charge fees in two people to do any transaction.

[00:21:45] So while it doesn't cost a whole lot, you still need something. So, you know, you need a little bit of, of MADEC there. So that is one of the things that you have to keep in mind when you are on other networks. So if you're asking your users to go do it, you know, that either means that they, you need them to go.

[00:22:00] Moved some funds over to both to this other network and then two with the, the right the right asset you know, being MADEC on polygon anyway that it can be, you know, there's, it's different on different networks, which can be confusing. So, you know, I think that that needs to, you know, that sort of thing is the.

[00:22:18] Overcome that, you know, I think that's too much to ask people to always figure out and for projects to to expect users to take on upon themselves.

[00:22:27] Awesome. Well, I think there is definitely some element that we're going to be looking for in terms of saying as their alternative layer, one NFTs out there that we can find. And in what it means when we begin to merge these like very disparate systems. Cause like, look, let's be honest, we've given you pretty much, I'd say 95% Ethereum based NFTs.

[00:22:47] Cause it's where things that we trust are minted and made, but that may be changing. And I'm, I'm kind of excited for that. Although we have branch to like layer two polygon a bunch, but yeah, for the most part, that's where we play.

[00:22:59] Yeah, that's true. Yeah. We've mostly stuck on Ethereum, but you know, maybe we'll branch out a little bit more. As we see things developing.

Read more

Value of Open Creative Commons | Project: Wrapped Strikers

Wednesday Mar 30, 2022

Wednesday Mar 30, 2022

Transcript

 

[00:00:00] Today on all about affordable NFTs. We're talking about the value of CC zero creative commons zero. And brand-building excited to get into that one, but first one, Andrew what do we see in this.

[00:00:13] Yeah, let's see, let's take a look at what's happening. We've got some, we've got decentral land fashion week. Let's see. I don't know the specific dates of this, but we've got a handful of, you know, traditional clothing brands getting involved with this. I've noticed Tommy Hilfiger Estee Lauder.

[00:00:31] So a lot of names from a, you know, traditional. Fashion that are getting involved in, you know, there's a case to be made that maybe that will not be the way that this this kind of works out. That those end up being the most successful brands of the metaverse. It's an article here from decrypt that.

[00:00:48] Talks about how Nike has already acquired art in fact, by and sees that they need a different brand, a brand that seed that is metaverse first understands what is popular, how to create things that work in this world versus the physical world. So interesting that they have this fashion week I'm curious to see, you know, what comes out of this and how hu.

[00:01:10] But who impresses the most? You know, I'm not typically into a fashion week like that, but I am curious, you know, I think tech is a big part of this and that's going to play a big role here.

[00:01:20] Yeah. I mean, I don't quite understand that title of why big Brands won't we will fashion in the metaverse. I just I disagree with actually I think what's going to happen is if anyone gets, I dunno, say really good at doing shoes. let's say the metaverse that I don't know a company like Nike is just going to buy them.

[00:01:37] Like we have just seen, right. It's just self fulfilling

[00:01:41] Brands Yeah are generally good at being really good at brands, fashion brands, especially it's not that they necessarily have a superior technology in baking clothes at this point. I mean, I guess you could argue that Nike is more Technology driven then maybe some other fashion labels, but you know, I dunno it we'll see how it plays out.

[00:02:02] I see that there could definitely be metaverse native brands that have a leg up on traditional brands, but those are still gonna end up being folded into those same the same big money brand, a big brands.

[00:02:16] Fair. Yeah. Oh gosh this is half one Satoshi island. So it's official that there is now an NFT slash crypto paradise and the Pacific ocean just off the coast of Australia. I believe the name is creatively being called Toshi island and they finally got approval to do this. How do you feel about.

[00:02:39] No, I, I don't know a whole lot about it. It sounds ridiculous. I wasn't. I had to actually see the headline a couple of times to realize that, oh, this is a real island that people are planning to really open, I believe in 20, 23, they have plans to have people live there. You know, we'll see if that actually happens.

[00:02:58] That sounds like one of those things that may be pushed back. It definitely. Why is this needed? And I'm not quite clear on that. What is this doing? That isn't being done right now.

[00:03:07] I think it's I, if I'm being just sort of. What I see honest is that it's feeding into this Bitcoin maxi ideology of if only we could redraw the lines and redo wealth distribution to the random, very sort of select group of people that happen to believe in Bitcoin early. And believe that's the only true way.

[00:03:32] And it is truly more religion, I think, than currency at this point. And sort of building. I'm not going to go maybe echoes of Jonestown on this, but it's a little intense to say, like, we're just going to draw a border and try to create our own like rich paradise. I don't think it does Well,

[00:03:49] for an overall crypto brand to have that type of, you know only the wealthy can live here and the, you know, the anointed it rubs me the wrong way and I am a fan of crypto.

[00:04:00] Yeah, I assume it means you have to only buy things in very large purchases and it takes a very long time to transact and all of the.

[00:04:09] Oh, ironically, they're also saying like NFT. No. I will say they're saying all property in the Allan will also be NFT driven. I assume that means that they're in based, but yeah, maybe they'll do it on the on Bitcoin with what is the.

[00:04:22] Platform

[00:04:22] These stacks platform. Yeah, that could be it, but yeah, I don't know about it's. Well, we'll see what happens with this. It sounds like one that is getting a lot of headlines. People will like to look at. And I don't know, I may not. I may not actually come to be who knows.

[00:04:38] Yeah. it smells a little fire festival to me.

[00:04:40] Yeah. All right. We've got, let's see SoftBank. We've got them again. I feel like we've talked about them a handful of times recently they have their hands in everything tech and they are, let's see, launching eight NFT market. Because everybody has to, they're doing this with line it's a social media platform in Japan.

[00:04:59] So Japan, we haven't seen a ton of adoption from the Japanese culture in general. It would seem with NFTs, which is somewhat surprising because there are so many Japanese collectibles that have gone very mainstream. So I think it is a, you know, it's a brave opportunity. I don't know much about the line platform other than it is popular.

[00:05:20] And so I don't know how much of a of a branch out this is for them to integrate NFTs.

[00:05:26] Yeah, interesting that they've they've chosen that market and that approach, but soft, thanks around a lot of money.

[00:05:33] You sure do. All right. We've got someone from your neck of the woods, your stable area. What do we got here, George?

[00:05:39] That's right. So Pegasi or peg exi, depending on how you read and choose to say it has done a pretty bold move by taking a, as I say, a hard line on violation of policy, they blocked an individual. One of the guilds lone Wolf Guild that had 1600 peg is as well as 2.7 million vis which is allowable.

[00:06:04] I mean it's 17,050. Which is a lot in the ecosystem of this game. And it's because that they were promoting a tactic that was not allowed, which is using multiple browsers and wallets to race and rent more Pegas than you're technically allowed with a maximum of three from what they call scholars.

[00:06:25] It's a play to earn. And, you know, I've watched them native ban, maybe then people that bought and they take a very close eye to it and they really don't let it. So overall I think, you know, positive for the community. I feel bad for them cause it like it was something that he said wasn't necessarily doing directly, but was promoting this black hat tactic.

[00:06:46] And you know, there you go. It sends a shot across the bow and it takes a lot of visit out of the market.

[00:06:50] Yeah, I guess that's probably good for visit holders. I heard some, I read some comments about this and people seem to seem to think that. This whole, there was maybe also dumping a lot of his and maybe having an influence on the brace. So I, you know, I think it's good for the, for other holders for them to take action.

[00:07:08] It is pretty drastic, you know, hopefully it is a fair way to do this. You know, there is a, you know, there's a danger when they start taking these actions and that, you know, It's fine if if the community or everywhere, if you're on the right side of this if you do feel like there is some gray area there and you're towing the line, you know, that gets a, that's where it gets a little dicey and you don't know, you can't always say that it's going to be this easy to say that they definitely should be banned.

[00:07:35] You know, I'm glad that it seems to be the right move in this situation, but I certainly don't think that's always going to be the case.

[00:07:42] Just a reminder, are you playing on a centralized or decentralized platform? And if there is a gatekeeper. Basically say you know, your chips are no good here. And just because it's an NFT doesn't mean that it is a decentralized and universally accessible and it doesn't have to play by rules. And that's very true, certainly in games with economies in them Yeah. So I assume this holder can still access a marketplace and sell them. So are pieces, right? Or are they banned from the marketplace as well?

[00:08:11] So here's what happens when they do this, like your account and your ability to sort of trade it. Now, I'd be hard pressed to say like, have they blocked? I don't know how they blocked that because they probably block it from plane. So there was probably a standing claim that they can shut off. But if there's standing is in the wallet and also those packages are in that wallet, they can try to flip them on a looks rare or open seat or other.

[00:08:33] But when you bring that asset, whoever buys that asset and brings it in there, that Pega is blocked. Like can't enter you click it don't work. You try to submit no go.

[00:08:44] That'll be interesting what happens because you figure that somebody will end up with some of these assets and, you know, it won't necessarily be their own fault that it can't be played. So hopefully there is a way for those to be unbanned for new owners. And you know, that it's tough to say that the, those Peggy's should forever be a band just because of the owner, but, you know, it's a tough Tough way to a tough way to regulate the market or tough market to regulate when you have to worry about the health of it.

[00:09:10] And the idea that it is should be somewhat decentralized in that if people are going to put that much into it, they want to know that they can get their assets out.

[00:09:17] It's a good reminder also to buy from the source, if you're looking at any game and in the past. So, you know, we noted if you're going to jump in APN to pay XC, which now by the way, the floor on Pega is went from an astounding. I think it was like 1700 for an unraised. Too, it's now 60 bucks or it's like a hundred bucks for an unraised pacer.

[00:09:36] So the floor has collapsed utterly and completely. Huh?

[00:09:41] Zed. I would.

[00:09:42] Echoes is, yeah. Right. Like, you know, don't buy what you can breed. Remember that lesson, like that was the lesson. And that was very true. But you know, vis went, which is the native token there, you know, it was at a high of 26 and it's trading at like 0.6 of a penny.

[00:09:58] Right. So. It's falling quite considerably, but you know, I wouldn't count this team out over there. They're amazing developers and they just develop at a pace that is breathtaking. So I think they got more. More ACEs up their sleeve and you know, I'm still I'm not buying, I did buy a founding Pega because it was falling down in price.

[00:10:17] And I was like, oh, you know, I can't breed a new founding one. So I was like trying to pick up their Genesis pieces, but it's a weird time to be in it. And I'll say that.

[00:10:24] All right, one more bit of news here. We've got NFTE LA, there's actually a handful of events going on in LA, but wasn't a big or widely promoted event, like an actually LA R NYC. But there is, there are a handful of things going on. Let's see, by the time you're listening to. I think this may have just happened.

[00:10:43] I know some of the some of the events that were going on Colby was going just listen to a Twitter spaces with him talking about a new metaverse that he's releasing with along with Mona and async art and uh, Well, let's see X copies also involved in that one. So they're going to be doing some demos of that down in LA.

[00:11:04] There's something at the super chief gallery. It's a big gallery that has both places in both New York and LA, but do a lot with the digital art NFTs. So handful of things going on down there. It's I think it's great for NFTs to get. In real world in real life experience for people to be able to come together and see this, and also start growing it beyond this idea that it's just a bunch of you know, apes on your phone or whatever.

[00:11:28] Yeah. super interesting. And you know, I like seeing those IRL. There's just so many conferences. We were so funny. We were trying to track all these conferences and they just exploded. There's like one every week. And just,

[00:11:42] Yeah. People

[00:11:43] the capacity, I'd say for

[00:11:45] Yeah. There's a lot of things coming together right now for that to happen. Right. People just looking for reasons to get together and NFTs are a great reason right now.

[00:11:54] Awesome. All right. Let's roll into our affordable projects. Something that I found. And also also in the news, can we pull up the crypto.com? right. crypto.com is fallen in with the FIFA for the 2022.

[00:12:11] I get that one

[00:12:12] Yeah, 20, 22 Olympic And Paralympic. What am I saying? World cup, not Olympic world cup. That's happening in November, which is, you know, huge partnership international audience, just like viewership through the freaking moon.

[00:12:26] I mean, if you're not a soccer fan, fine, but world cup brings a lot of attention to the game and there's gonna be a huge. NFT component as a part of this. And you know that's the sort of like, that's the next Superbowl in my mind of mass collective attention on a topic, which leads me to my affordable project play, which is wrapped strikers.

[00:12:51] And it's a collection on open sea and originally it was the 2018. Yeah. 2018 world. Where it was technically the first NFT sports card project on a theory. So it's checking one box, which is, I'm like trying to find old freaking projects that are the first of its kind. And this is, you know reportedly the first card on contract.

[00:13:18] And originally they dropped on the ERC ERC 1 65, they dropped on the older ERC. They had to wrap them to get them onto the And now they're on another, on that rat the ERC 7 21. Sorry. And you know, you can wrap it on rabbit, but now these are sitting at let's just take a look at the rough floor you know, about, I think. Point oh, eight three as a floor. There are 3,500 wrapped strikers available, and these are, you know, look, they're very basic graphics, flat imagery, images of players that were in 2018 playing. So here's the play. I wouldn't necessarily. Run around and buying the floor on this one but obviously look, you know, do your own homework.

[00:14:08] What I did was look at players that are likely to be on the roster for 2022, because this is essentially like their rookie card in terms of NFT land. And of course, You know players like Messi and Ronaldo that are going for, you know, I'm just going to pull up messy. Like, you know, if you have five east to burn, like, okay.

[00:14:30] I don't, because it breaks my rule, not by anything. One eighth, but you know, these these conditions. So the play is again, look for, and Google research on players that are likely to still be able to be on a roster in 2022. And, you know, go take a look at what those floors are. I've,

[00:14:49] And if you do know more about soccer than us and want to hop into discord and let us know. We won't stop you, you know, if you have some insight into things that we may not know what these guys, and we're not big, we're not real big soccer fans, either one of us. So, you know we're sort of we're sort of doing our research and guests in a little bit here, but we would also love some help.

[00:15:10] Yeah, and full disclosure. I became a huge Irving Lozano fan after I purchased one where I realized he's likely to be a a member of the 2022. For Mexico. So there you go. You know, he's a winger likely to be on the team 26 years old. So he's not about to retire cause there's like a lot of the Flores.

[00:15:32] I notice a lot of goalies and a lot of people that are like gonna retire and I'm like, oh, I kind of want to see a play if there's going to be a secondary market for you. So that's why I'm saying like, be careful on the floor and also come on. One of you has to know about soccer coach, join our discord and help.

[00:15:44] us like angle.

[00:15:45] Yeah. I mean I feel like I'm usually one of the people that doesn't know something about it, and apparently we get two of us here, so that's not good.

[00:15:52] I played soccer, but yeah, not particularly well, anyway, hopefully that's some alpha for you. Again, none of this is financial advice because I'm talking about and FDS, right. Remember? All right. Our theme. Are we ready? CC zero creative commons, zero. You know, what does this mean for branding?

[00:16:11] What does this mean in general? And just to like start it off. CC zero is under the creative commons concept of no rights, reserved allowing scientists, educators, artists, whoever they want the owners. Basically full licensed to use whatever they want. And it's the, you know, the most free open classification of the system.

[00:16:35] So that's the starting point is the question is it a good thing or a bad thing for projects to be adopting this.

[00:16:42] Yeah, it's been a big topic lately. I guess IP in general has been a big topic lately since since you guys take over of larva labs and, you know, while it's not necessarily CC zero, they did give the IP over to to the NFT holders immediately after they acquired that. So had. But your issue, you know, I guess that is somewhat different than CC zero.

[00:17:04] I believe so the CC zero projects that I'm more familiar with are things like the nouns down that we've talked about, are the nouns put out by the nouns Dow? Let's see the crypto's by super grand plan.

[00:17:17] And that firs I

[00:17:18] M efforts by star Toshi. That's a newer project. That's certainly been hot lately up over a three floor.

[00:17:26] All of a sudden it's one that I looked at for a long time. And.

[00:17:29] really, it was on your list for a long time. And every time I check it, it's a little bit more. And it's a lot more than when I first started tracking that home. But you know, there are a lot of these zero projects getting more popular.

[00:17:41] Another one is crypto Dick butts, a sort of an odd project, but they, so this was one. What is interesting is that they actually voted to become CC zero. So it wasn't CC zero initially, but the Dow. Then voted to go see Sisero. So when you do this, it gives rights. Then it gives the Merck, gives the holders all rights to do whatever they want with the piece.

[00:18:03] So it is interesting. I don't know how we're going to see. We haven't seen a lot of brands use these assets yet. That I know of, you know we've talked about how board apes and some other projects, but primarily board aids are being used a lot in restaurants and more digital type of branding than than traditional branding.

[00:18:23] So you, I don't know how these are used, you know, I don't know how they're going to be used by, well, at this point, you know, I think a concern that I would have is that you're always linked to the other brands that are also using that IP in some way. And you know, that's, that can be good and that can be bad.

[00:18:44] I think, you know, in terms of brand building a traditional marketing, Mindset would say that it is bad for a brand to pollutant dilute its messaging, its cadence, its consistency, because the elements of brand rely on that type of like, you know what to expect when you pick up a Coke, you don't have a bunch of people running around with different forms.

[00:19:07] In different ways, shaking it, opening it cold, hot, like no it's served a certain way. It has to be done like this. You don't see particularly, you know running Disney, running around with their IB being like, all right. And now Mickey mouse is in a shoot him up and now Mickey mouse is over here. They have a very consistent brand strategy now just because I'm cannot the top of my mind.

[00:19:32] Pick out and think of like an open source brand that has like done well, I can think of code platforms that have done this. I can't think of a brand which has to tap into tribal and cultural elements, which are fire things. But just because it hasn't happened before, it doesn't mean it won't happen going forward.

[00:19:50] So I'm actually a little wary of projects that are like this. I think there's like an initial excitement about like, oh, the maximum potential. I don't know if that's how you build a brand over time.

[00:20:00] Yeah, I think it's interesting that to think, you know, that it has to be, trust me some sort of commonality among these brands, you know, why are they related? And, you know that's tough, you know, but I guess the. And the successful brands that do use these will find, I think we'll find a way to, to bring that out.

[00:20:19] You know, they, there is some, you know, we've talked a bit about how projects seem to be sort of targeting different groups much more specifically now, and it's not. Here NFT world. Here's what, here's the project and it's getting more specific. So I think, you know, if you can start thinking about the holders as having some sort of common identity of some sort, you know, you can start thinking about how the brand can be used.

[00:20:44] If it's, you know, then there's different parts that kind of go along with that. And there's this community that, you know, That needs, you know, different parts to it. You know, whether I, you know, I don't know exactly what that may be, but let's even just say that it's a group that is particularly into, to web development and then you'll have, you know, a brand that is doing hosting and a brand that's doing marketing and, you know, different brands that are all related to this.

[00:21:09] I could see that working out and, you know, I think it would take some time for that to really sort out because as you know, as we know at this point, there's a lot of people in brown. Not at all for I dunno for the sort of target or for the reasons that, that they may be, that the project is set out to set out for.

[00:21:27] Maybe I'm not saying that right, but. Th there's a lot of people in projects for the money at this point. And if they're not there for other reasons, then you know, it's going to be hard for that identity to come through. So, you know, I don't know I'm wary of how that could be used, but it could also see a way that it could be successful in the right situation.

[00:21:44] I look at, and I have this note here, the perils of a cartoon Pepe, which, you know, I don't think it was a CC zero, but essentially was taken. This is the frog created by. That essentially it was taken over, unfortunately by a, you know, white nationalists movement for, you know, just sort of very racist and just sad, inappropriate usages of the image of. And you know that the artist tried to claim it back by rewriting and trying to do it. But the point here is that who's to say that one, just one ape or just one fill in the blank, falls in the hands of somebody.

[00:22:26] Who's like, you know what? This is going to be the new face of white nationalism. This, you know, punk with a, you know, a scalped head. Perfect. That's our new mascot. And suddenly it's plastered everywhere becomes synonymous. The ideology of the people that choose to use it. I think there is there's risk there,

[00:22:44] Yeah, I think that's a pretty far, it's pretty extreme example to warn them reason not to do something. Yeah. I mean, I think there's a number of things that could happen before then and to distance a project from that. And, you know, I, I don't know. I'm not uh, you know, I think there's going to be brands that do this successfully.

[00:23:00] I think, you know, even looking at the branding around the board and hungry restaurant, I think they certainly have the right idea. And I could definitely see people that aren't necessarily into the board. Ape culture is still seeing that and thinking, all right, well, that looks like. The familiar with, I've seen these kinds of images around and it's a burger and that is, you know, that's also the kind of thing that does.

[00:23:22] It's a relatively mass appeal items. So it's not necessarily going to a specific target. I could see someone like that working. I don't know, I don't know what other brands start using these well, you know, we haven't seen it yet. There is a lot of talk about the value of it. I think we also maybe have to start rethinking, you know, what it means to be building brands, you know, it's, as we know that, Personalities now have their own brands.

[00:23:46] And I think it's a lot of, you know, you can buy a PFP of a specific project and essentially buy a lot of followers by like making that your PFP, engaging with them. And, you know, that can help build a brand of a sort. And it's, you know, maybe it's not the traditional logo, that type of branding that we're thinking of but maybe just being part of the community, connecting with these different.

[00:24:07] Communities and finding ways in there that you're maybe integrating it into projects in different ways, you know, we saw how the the board apes, other sites video used some of these these projects and, you know, some of them weren't CCCR, but they weren't using the, they were using assets like the crypto's and nouns in their video.

[00:24:26] And you get, definitely see these being used by other projects in a way that broadens the broadens appeal part of the market. Garden's the viewership of these assets and, you know, I think that's a good thing in general. Most people haven't seen me still.

[00:24:40] Yeah. And inside of a project, it's kind of interesting. It's like story within a story where you get a certain type of trait, for example, the. Becoming its own little micro brand inside of there. And then like that meaning something different. And so even just categories of traits becoming, I think though, you know, I feel like we're, I'm much more questioning of the longevity of a brand to sustain over time, because I think I'm more a classic marketer maybe in that mindset.

[00:25:08] And I think of the difference between if you could have one franchise star Trek or star wars, which one would you choose? You would likely choose star wars because merge alone is ridiculous. The brand is tight. They have a consistent thing though. Don't watch the first three, obviously, as everyone knows.

[00:25:24] But they have, you know, really cultivating. You know, all of the myths, the lore, the legend, the merge, the attractions, the rise. And then you look at something like star Trek, which just sort of randomly throws darts at Picard's has obviously its generation from a TV series, but like was licensed to different groups along the way, which just tore the brand in different storylines and arts just fricking, randomly.

[00:25:49] Beginning to try to tie together, but you realize when you don't have that consistent drumbeat of a narrative of like, here's where we are, here's where we're going. Here's our sort of belief system as mapped out that it can be it can be hard.

[00:26:03] Yeah. Yeah, absolutely. The two sides of that. You know I don't know. I don't know. I don't think there's one clean answer here. Like it, whether it's good or bad, I think there's definitely going to be people that brands that do this well, and there's going to be, there's going to be some issues that's coming up as well.

[00:26:18] As you know, as we see all the time, there's I don't know there's something new every day in NFTs and how they affect and how one thing affects other parts of the ecosystem.

[00:26:28] I would say one counter to my narrative actually is the net effect of attention. no substitute for the type of attention over time that simply builds recognition and familiarity. And what I see growing with board apes is that it is one of. Opulence exclusivity, a little bit of DGN as the sort of mascot of what the whole movement is.

[00:26:53] And every time it shows up on everything from a rapper to a hamburger to a television show, is there like potentially licensing out for movies who knows it all sort of just adds to the attention engine behind the asset. And maybe it's a broader idea that just sort of grows because there's a bunch of.

[00:27:12] You know, rising tide of everyone's sort of doing their own marketing thing. And it's just like, all right, everyone's just going to lift up because everyone keeps seeing it and everyone keeps identifying. So maybe that works. Yeah. I mean, I think there's a reason that people attach themselves different PFE images and want to sort of ride these these waves of attention. There are ways to do. And I think promote a brand over time and maybe it does shift, but you know, as we know marketing has, it's always shifting and this, we don't know exactly what it's going to be like in this NFT world.

[00:27:42] We've talked a little bit about how things are shifting, but I, you know, I don't think that it's, that anyone knows exactly how it's going to play out.

[00:27:50] Yeah I do subscribe to the immutable truth of attention though. And they will have that as long as new money and new marketing initiatives, keeping, just getting pushed behind these things. And that's the upside, probably a brand building open creative commons.

[00:28:05] Yeah, absolutely. I think we've We did.

[00:28:07] that's everything on this topic. Yeah.

[00:28:09] I think we solved it, another problem, taken care of everybody. Don't worry. All right. Good luck, Andrews. Yeah.

[00:28:16] All right. Good one, George.

Read more

Are all NFTs in YugaLabs lifeboat? | Project: Degenz

Monday Mar 28, 2022

Monday Mar 28, 2022

Transcript

[00:00:00] Today on all about affordable NFTs we're talking about are all NFTs in the UGA labs life boat. I like it. It's gonna be interesting topic talking through it. And Andrew, what do we see in the news today in NFT land? .

[00:00:14] Well, we've got some board aid news to start us off. We've got a some stories about NFT restaurants. We've seen a handful of them popping up lately on new.

[00:00:23] One was just announced down in the LA area from a restaurant, or that has four or five chains already. But seeing a couple of these pop up also have seen let's see, it was universal music. They've purchased a few Asians. Four apes three or four apes. Now they're putting a music band together, similar to the gorillas put using the board apes.

[00:00:47] So starting to see these H be used a lot more in brands and I don't know the way that people have talked about it, but actually seeing it come to fruition of that year. Yeah. When you see this, it's

[00:00:58] just really sort of the culture following this and you know, it's a funny picture of like board ape imagery on.

[00:01:04] Fries on a burger thing on a soft drink. It's, you know, also being used for really expensive sushi. It says lavish sushi establishment. So it's kind of weird to see a brand being extended in these like extreme directions and like what what's the net result. I'm not quite sure, but you know, try to be parsing out various flavors of that.

[00:01:26] I think in the.

[00:01:27] Yeah, absolutely. So next we've got that board aid. We get, we talked a little bit about this board. Apes are trying to build a metaverse, you know, somewhat as a antithesis to the Facebook Metta world that may be coming or whatever that may be. This is more of a web three native crypto native, metaverse and that's sort of how people are positioning it right now.

[00:01:50] So interesting to see. How, how the NFT or, you know, world crypto NFT world is reacting to this versus the meta play when that was announced.

[00:02:03] And they're look, they're there. Just checking every single box on the playlist of launch a project, do the secondary airdrop launch, a coin launch a metaverse with a land sale, right.

[00:02:19] Drop in on, you know, restaurants and themes. It's,

[00:02:24] you know, go, go to

[00:02:25] go to the playbook of the common roadmap, except they execute, right. Like ideas are cheap. Execution is real. And, you know as we mentioned, like that airdrop of the eight token in the last episode, you know, it, it happened it's real in, in sitting in like 2.2 freaking billion dollars.

[00:02:42] It seems to be roughly holding somehow value. As of, as of this.

[00:02:47] Yeah, I was, I was definitely not so sure that it would hold value as long as it has. You know, and we'll see what happens, you know, who knows by the time you're listening to this, I'm sure it's moved in one direction or another, but I really don't know at this point, I haven't paid all that much attention to the price movement other than just hearing it once in a while to see, you know, what has happened.

[00:03:07] Let's see, moving onto the next news item here. We've got a time magazine. Pretty active in the NFT world. They have released their first ever NFT issue and they've got metallic, uterine co-founders and ease of going on Facebook, Ethereum on the cover of this. And interestingly, in this article, in this interview, he talks a bit about how you know, he's not necessarily happy with how.

[00:03:30] The, or the, the current state of a theory of, and how NFTs have maybe glorified some of the aspects that he doesn't necessarily like about this, including just wealth and attention that maybe go on with board eight. So he wasn't necessarily. They specifically call them out, but a lot of people read it as a sort of an anti, a board, a kind of stance from metallic.

[00:03:55] And, you know, he took it from a point of it's that there's a lot of wealth inequality. There's a lot of eco issues that are definitely are glaringly obvious in this industry right now. And and those are, I don't know, I guess board eight and NFTs are kind of the face of that.

[00:04:12] Super powerful to see obviously the first entity issue of time with, you know, metallic and also it just, you know, it's not all sunshine and rainbows.

[00:04:22] Like I think it's super interesting that he's just like, look, look, here are the problems. And he talks about the top three over your investors jumping in with more than they can afford to lose. The public flaunting of crypto wealth of like that sort of freaking Lambo culture. Like that's that's shit.

[00:04:38] Like, you know, it's, it's really turns off a general population. Even though some are attracted to that. And then the one is the high transaction. So, you know, making it essentially only used for like huge amounts of finance or, or gambling, like he really wants to see the utility of this. And it's also important to note.

[00:04:58] Metallica is very different than mark Zuckerberg. He doesn't own right. The controlling voting shares of the theory, certainly massively influential, but you know, this is not necessarily his like sort of command and control and that's really awesome. Right. And he doesn't love everything that's happening in the platform, but he also can't just shut it.

[00:05:19] The way that a Zuckerberg,

[00:05:21] right. He calls, you know, buying a board ape and then whole ecosystem, just straight gambling. He's like, that's gold camp.

[00:05:27] There you go. You built it, but that's how people use it. Yeah. Yeah. You know, a bit of a funny part that came out of this, you know, there are a lot of, a lot of negative comments about the the look of metallic on the cover of this.

[00:05:40] And people were comparing him to. To a, you know, got a Tom Brady, they went with addicted. There were a lot of different, a lot of different descriptions, but I actually could see him. One of these, he actually, you know, I could see the Tom Brady look a little bit, but he, he mentioned that he didn't know who Tom Brady was.

[00:05:58] And Tom Brady then took some time to introduce himself. And I don't know that Tom Brady gets to do that much, but he said he was a big fan of a tall, like, you know, as we've mentioned, Tom Brady has been he has been used in a lot of ads and has his own autograph. NFT platform. So, you know, I think he genuinely is a fan of metallic.

[00:06:19] I think it was pretty cool to see this the all time, the greatest all-time quarterback saying that he's a fan of the tele who doesn't know who he is. So, you know, maybe that means something in our culture at this point.

[00:06:30] Maybe it's why I keep coming back to like how disparate the cultures of NFL in crypto are and why I'm always like, so excited about the NFL coming in.

[00:06:38] Because if like, if that sort of Venn diagram gets. I think it's a huge on-ramp, but

[00:06:43] that's absolutely hilarious and

[00:06:45] happened over Twitter. So Twitter, it can't, it's not all bad. And then Twitter, not all bad.

[00:06:50] Let's see, we've got one more story. We've got game stuff again. I feel like we're talking about them a lot. GameStop has launched eight marketplace and an empty marketplace, which we have talked about. And because they had raised money from a mutable X, of course, they've launched that on a note they've launched on Lupron.

[00:07:08] No real reason, no. Given Lupron announced this man. Now, GameStop is saying that they're going to support both of these. Of course, they've raised all this money from a mutable X. And as we mentioned at the time, they then immediately dumped the coin, which caused the coin to go down pretty

[00:07:28] drastically 40% or

[00:07:29] so.

[00:07:30] Yeah. And in this case, it's the opposite. Now loop ring is a, is I think jumped about 40% once this news hit because nobody saw it coming because there had been no word of it. The bring just announced it. So not much. I don't know what's going on here. You know, GameStop is they're good at putting themselves in the headlines.

[00:07:50] I don't know if this NFT marketplace is going to ever be meaningful though.

[00:07:55] Yeah, I guess we will see time will tell. I will definitely wait and see and not jump in on this one. Actually

[00:08:03] give it a, give it a minute or two. Let it, let it be. So Andrew,

[00:08:07] I feel like we've been letting our audience down by not giving them affordable projects and partially because look, if they don't have something good to say, we're not going to say it, but you found something interesting.

[00:08:17] Why don't you share with this collections?

[00:08:19] Yeah, that's great. D gins and Ft. Let's see. So this is a, let's see how many pieces is, this is a hefty collection of let's see. Oh, no, it's a much smaller collection than what it says. Sorry. I am not stressed. This off is about 4,000 pieces. It gives you access to a NFT alpha groups.

[00:08:38] So it's a group that discusses new projects discusses news in the NFT ecosystem posts updates each day. They got my attention when they put out a report on the rare token from super rare when it was especially low they. Saying that it was a good buy at rallied abouts. I think over a hundred percent since then they put out six new reports just this past week.

[00:09:04] And it seems like that's just going to be a regular thing. They've announced they've got five more coming next week. So I've found those helpful to look at even. Not projects that I'm necessarily getting into. It's great to get some insight into what people are thinking and seeing around around the NFE ecosystem, they've put out a lot, or they put out a lot of content each day.

[00:09:23] Two of the people behind this are hosts of a warning Twitter spaces show and rugged radio, a once a user owned Audio platform. That's currently done Twitter spaces, but they do a morning show there with, let's see it's O S F N F T, who is a, he was an early punks collector and has been in a lot of a lot of big projects and seems to be quite influential in actions.

[00:09:49] I seems to be, he is quite influential. You know, when he posts and is quite knowledgeable about the NFT ecosystem. Great. Mondo is another one that is on there and Baroque, who is a artist and a sort of social, an FTE person or social media, NMT influencers. So they all are on that show and do a lot with this project.

[00:10:10] They post daily updates starting with more of a marketing. Wide outlook, you know, macro outlook of what's going on in the world from a financial perspective and then how it relates to crypto and then finally into NFTs. So they post a lot of content That just gives you a lot more than you can possibly track on your own.

[00:10:32] So I found that helpful. Let's see, we've got a floor of about 0.2 right now. I have one of these right now. I got in at that price as well, or right around there. So there's different types of characters. You know, like I said, it's, it's getting you access. So, you know, you can, you can get. Spend some time looking at the the different rarities.

[00:10:52] There are some different types of let's see different there's lobsters, there's some different characteristics, but you know, you're looking to just get in to the discord. You know, you can look at something around that floor price, but try it out has been holding fairly steady around that price recently.

[00:11:09] And let's see, moved up. It wasn't. The town in the 0.1, five range for a while there. And let's see for a couple months it looks like or a better part of a month. And then has moved up recently. So, you know, it seems like people are noticing, you know, I don't know if they are planning or I shouldn't say they, they do have one.

[00:11:31] Other project that gives you access into it. I don't know if they're planning any others. I think it's just these two projects that give you access to the discord. So it is limited in how many are out there. The account that they have systems that they have on open see is wrong. They mentioned, so it's a little hard to get the exact number.

[00:11:48] They say there's about 4,000 pieces, but this, and I think that's weird. I said to the other

[00:11:52] open, see, it looks like it's saying it's like, it's an 11,000. But yeah, that floor is definitely moving. You know, what I do like is the community based like access as long as there is a dedicated content generator associated with it, like just access to another freaking discord is like, need that like a hole in the head.

[00:12:10] But not a bad call saying like, all right, here are people that are, you know, talking about topics intelligently. So interesting. I will take a look full disclosure. I don't own one. I may FOMO in, although I'm trying to get myself a little breather after a recent, recent.

[00:12:24] All right. Good one. Yeah. Sorry.

[00:12:25] Went on a little long there. It is a project I liked, so yeah, take a look if you're looking for more news, but we also, we also share a lot of good stuff in our own discourse. So hop in there. If you are looking to to discuss projects and we've got links, we've got we've got some discussion going on and always welcome new people there.

[00:12:43] Great. Thanks. Alrighty, let's move into the theme. I'm excited about this. The concept here is, you know, are all NFTs in the UA labs, lifeboat. We all live in a UGA lab submarine and rough back of the napkin with that recent purchase of the SS behind you know, or the BuyBoard natives buying crypto bonds.

[00:13:06] Right. And. They roughly have about 25%. I think this is right 25% of east based NFT assets. However, you classify that, which is massive. If you think about how many different projects are out there, that, you know, one company is now controlling this much. And with that, that's, you know, it's a lot of ease.

[00:13:28] It's a lot of NFT value and they're now sort of dictating this larger play. We already mapped out is sort of following this Pete by number, but feels like roadmap of things you do after you have done your initial drop. Yeah, I think it's

[00:13:45] worth taking a look a little bit more about, you know, how they actually did this.

[00:13:49] You know, they all came pretty quickly here. You know, they bought that IP, they announced the the Abe claim right after that. And then they announced the the funding, which had been rumored for a while. You know, like a day or two after that. So it's been a lot of news for you guys. It caused a lot of movement in different projects.

[00:14:11] You know, we talked about it, the other side video and how different projects were featured in there. Definitely seen prices of some of those projects rise because of that. They've since fallen back down for the most part. But I wouldn't say that for the overall, because of me, bits of definitely Held pretty strong surprising to me that they have done as well.

[00:14:33] You know, but I think beyond that, we've seen that this ape coin has, it will, it's done well, but there have been a lot of people that have sold. You know, I think one. One interesting aspect here is that they released this in March, shortly before the us tax deadline in April where a lot of AP holders may, may owe some, some taxes if they have sold any at this along the way and still hold some, they may not necessarily have the liquidity, but this certainly helps if you are in that situation, because this was a big airdrop for for.

[00:15:09] I am holders. And then there's the people that don't necessarily need to to sell to, or, or to sell for taxes, but maybe can use that in other projects. And initially we saw that going into some of these other projects that were mentioned, and, you know, I think there was a thought that it would sort of float more of the NFT marketplace.

[00:15:28] And I think a lot of that. Largely stayed within the UGA labs ecosystem, whether that's just into other NFP project from board apes to, to the the kennel club or the mutant Napes or even to some of their other IP, like they need that or punks, you know, I don't think those are as popular, but there's, I think we're seeing a lot of it stay within that ecosystem rather than go out to other parts of the ecosystem, you know?

[00:15:51] And it's, so it has helped some of these other projects, but I don't know that it's helped as much. As, as maybe some thought. And the other side of that is, you know, if, if they falter, I think that it could be bad for the NFT space as a whole.

[00:16:07] Yeah. I feel like that's what you're hinting at. You're saying they are now the, you know, the banner for NFTs, good, bad indifferent.

[00:16:16] And then here is a company which

[00:16:18] can do well, it can do poorly, but it is

[00:16:20] motivated by. You know, shareholder value is it's taken on investment. It is now on a very distinct course and you know, we've yet to see what happens. I think there was inevitable. There's an inevitability to this right, where you've got the pendulum that will swing from all right.

[00:16:39] Here's a highly fragmented, decentralized market with a lot of different brands, a lot of different small players, all playing all at once. Inevitably one of the fish gets bigger than the other ones and figures out how to. And then swallow too, and then sort of capitalize on it and follow along with the way financial markets always do a power law where 10% of the things have 90% of the asset and a distribution.

[00:17:04] And so, you know, this is kind of expected. I would maybe say that there's probably more, more to come either by them buying. I don't know if they would buy more, but others realizing like, you know, boarding. I mean you labs, I'm sorry. UGA labs now have five of the 10, five of the top 10 most traded by sales volume and FTEs on the interwebs.

[00:17:28] Like that's, that's a lot. So I said 25% of overall value, but like just of the top 10%, they have half of that list.

[00:17:36] So one important distinction between the collections that they've created versus acquired is the commission. There is no commission on punks, or maybe it's a, it's one of the reasons me, this have been used so much in wash trading on the looks rare platform because there's no commission there

[00:17:56] really quickly, what does commission

[00:17:57] actually need?

[00:17:58] Right. So the, so commission. Brittany into contracts so that the the creators get a percentage of the sale. So I

[00:18:05] believe, let me challenge you on this. I don't know if it's actually written into the contract. I thought it's something that the platform has to honor based on the intent, because you can go to other dark markets and trade around that.

[00:18:18] I feel like that. Yeah.

[00:18:19] I, I don't, I, yeah, I, I don't know exactly how I, I don't know because I, I don't know exactly how it works. It's certainly something about the, the, the The project itself, the collection itself, because there were collections that were being used. I mean, if there is something set in the contract, I don't know if there's a way for platforms, essentially, not to honor, I guess I know there's a way for a platform to just not honor it.

[00:18:41] Like it's not immutable to the contract being

[00:18:43] written. Like you can incorporate, it's not fun to transfer that it actually happens the platform and students to pay it out of. Know, I think that should probably be addressed if there is a, you know, a fair way to do so. But I, you know, I think that is important to think about, even if they're getting huge returns from the board apes, there's been massive tradings since all this has happened, I, you know, was looking at it the other day.

[00:19:08] And I think I've realized that I think. Within a few days, they had taken in about 63 million in fees from the trading. And there's really no cost to them. I mean, there's, these are digital assets that are being traded at this point and it's on a marketplace that they don't run. You know, they're paying eight fee to open, see, or your character looks rare, but they're also not spending anything beyond that to, to, to do this.

[00:19:31] So let's see. It's a very. It's

[00:19:33] taken like 2%, 5%.

[00:19:36] The question, I don't know. I would say I was going to guess two and a half. It may be as much as five. You know, I, I, we should look at that. Yeah, let's look it up

[00:19:43] real quick. Cause I, you know, what's curious, I'm just looking at the past seven days right.

[00:19:48] Of, of transactions for just boardings, right. There's been like 216 of those that happened and let's say. They get 5% of that. I mean, they made 3.5 million on just board apes, changing hands and seven days for, you know, the cost of breathing air. And so, you know, similar to the way that, you know, Google has got this money printing machine called, ad-words and certainly apple has its money printing machine called the app store.

[00:20:21] Look,

[00:20:21] you know,

[00:20:22] the, the numbers are there. As long as you're able to keep the marketing brand and value there, it's like awesome. In terms of generating that kind of revenue, but interesting that I didn't realize that NEBA is set up at a zero fee on those, which, which kind of hurts in that kind of volume as it moves back and forth.

[00:20:39] They're like, Ooh, you know, what is the, what is the ongoing value of that? And Ft to, to the, to the credit.

[00:20:46] It is a two and a half percent commission fee for a UBA labs on each each secondary sale. So let's so divide

[00:20:53] my number in half. That's still whatever, you know, like a couple million dollars. It's

[00:20:57] incredible. Yeah. I mean, it it's, it certainly adds up. They've been doing huge numbers recently. You know, they keep adding, adding more ways.

[00:21:05] It shouldn't say that that ape token is. Was officially launched by the, the board API club Dow. It's not by UGA labs and it does. So it's not any. It's not, it has no stake in UGA labs has nothing connected to the the revenue or to the commission there. It is a Dow, you know, I will see what spins out of that.

[00:21:27] You know, as we know, a lot of doubts are created and there's a big challenge to getting something going, you know, that thing said, I could see this token being. In there. Metaverse for sure. We've seen some drops. Recently I know Snoop dog did one that was an album or a song, I believe that was only available in the able token.

[00:21:44] So I'm sure we'll see use cases like that. You know, maybe it becomes a dose like meme going, but it's, but it's a power instead of instead of dojo powered. Yeah,

[00:21:54] and they're they're going to push it right. That all it all has to succeed. Right. And so if that boat continues to rise, so to do that,

[00:22:02] The overall

[00:22:03] fate of entities, I think I'd take the contrary to you on if it sinks.

[00:22:07] I don't think it sinks the overall market actually. There could be a positive externality of that, which is they stopped sucking all the oxygen ahead of other projects. Right. Because like so much money is going in and it's like, oh, where do I go? I just go into this one corner. And suddenly it sort of starves a long tail of projects out.

[00:22:25] I feel like

[00:22:25] . I don't think they're going to be. Okay. Anxious to get back into other lesser known projects. That's, that's what I fear. That's interesting, you know, we'll see, you know, I think they also have the potential to grow the market so much at this point. And I think that's, that's really the , that's what I'm hoping that they are just leading many more people into this and that they will become a smaller part of the market because the market grows so much.

[00:22:48] And, you know, I don't know. It's great that they have such a large large stake in the say of the market at this point. Yeah.

[00:22:56] I don't know. I think the people they onboard are like coming in and buying a $200,000, whatever, and then they, they're not like a real potential user. Right? Like they're not running around with that with a hot Pollock.

[00:23:07] They're like, all right, put it in a desert, put it out of sight and then like, hold it, set it and forget it. They're not like necessarily jumping in and active in the community. I think there's like a weird handoff of. Kind of just cold collectors, maybe rolling into those sides. Yeah, certainly

[00:23:22] I could see that, you know, I would say the counter is this ape token is actually the easiest.

[00:23:28] It's the easiest way for anyone to get involved in the ecosystem. You really, anyone can exchange any amount to be part of this now in some way and have some small part of this. Whereas before I think you had to, I don't know what. I'm sorry, what is it? I always forget the name that the kennel club. I don't know what those are at.

[00:23:45] Not my, I don't think it's a super other popular project in general, but I think those are still, if I dunno, 60% of the

[00:23:51] time, the teller, the number nine, they did 10 million in last seven days. You know, they're real right. And I'm sure we're it April.

[00:23:59] Hmm. Wow. And that's, that's a solid race war for a project that nobody really even talks about.

[00:24:05] It just it's just because it's.

[00:24:07] and, you know, it's part of it's, it gets you in there. And I think, you know, we're going to see a lot of people just by that token to have part of UGA labs too, even though it's, you know, as I said, it's not part of it, but here's why it's going to be correlated with how with the success of Hugo labs three

[00:24:22] years from now, you could have the option of buying well at this price, eight X copies or one.

[00:24:29] 48 kennel club. Like it's not even a question in my mind. And maybe that's like, what I feel like, you know, Vitalic is, you know, saying or not saying when he's like, that's called gambling, right? Like, you

[00:24:40] know, the, the thing I always keep in my mind is this, the rate of

[00:24:45] increase the shorter, the timeframe that.

[00:24:47] Right where it goes from zero to absurd. The shorter, that amount of time, the more likely is that same half-life existing off the back end, the faster it goes up, the faster it rips down as opposed to, you know, slow, steady growth over time that sort of grinds improves and grinds and proves is more likely to have that type of staying power.

[00:25:08] So we're dancing on the edge of a knife for sure. And you're pointing. That there is a, there is a major spike and bubble in certainly maybe this valuation is hard to say what these things are all valued at, but it has risen in a short timeframe which sends off certain alarms.

[00:25:25] Yeah, I think you're right.

[00:25:27] You know, it's kind of the opposite of the Lindy effect that we've talked about, you know, really want long steady or, you know, slow, steady is a lot better than the fast like this. You know, there is a, a lot of profit to still. Taken by people for a long time on the way down. So, you know, you've got to keep that in mind, and I'm not saying that that's going to happen.

[00:25:47] I'm not saying that it should, or that these are overvalued. I don't know. You know, I'm not saying that I. It's not one that I jumping into at this point. I think that's a good, good way to think about it. Would I rather have eight of those X copies that we were just minting on the last last episode or, or one of the the kennel club and, you know, I, you know, it is, to me, it's easy to say that I'd rather have eight of those Zack X copies.

[00:26:13] Oh, you did

[00:26:14] accidentally by two less, we forget.

[00:26:16] Yes. Still, still a little short of the EPA. It's still funny. It is. Yes. Yes, it is for some of us.

[00:26:23] All right. Anything else that you want to tackle on this theme?

[00:26:27] No, I think that's good. You know? We'll see how this evolves.

[00:26:31] All right. Thanks for bringing it to us.

 

Read more

The Team Buys an XCOPY

Friday Mar 25, 2022

Friday Mar 25, 2022



Theme why XCOPY?

  • Value of holding a glitch art NFT
  • NiftyGateway.com

Transcript

[00:00:00] Today on all about affordable NFTs, the team buys the next copy. Hopefully we are actually on this episode live because of when we're recording and when this drop is happening going to be talking through our hopeful ability to buy the X copy dropping on March 24th. on the Nifty gateway, Andrew.

[00:00:24] Good. Just so you know, watch and watching this drop today, it's been good. There's been a few different parts to it. The edition that we're looking at is still coming up here, but it's the final part. And man, it's been exciting to watch some pretty big bids on some of the auction items early on here.

[00:00:40] They were an addition of six and addition of 12, I believe that addition of six was a. I think the minimum was about 70,000. Sorry. I lost track of that one. At the end. Let's see. Have you been watching this as, along the way, George?

[00:00:56] I've been looking at it. And then just to take a step back, explain what's going on nifty gateway.com is one of these NFT platforms that is a much, much more curated experience there. I'll just be honest in the past. And a touch critical that some of the drops they're just lack community behind it and community is what drives marketplace values.

[00:01:18] It has been pretty thin secondary on a lot of general pieces though. They are able, I will say this very able to bring in amazing artists and I'll just say an ex copy is something that I thought was beyond my general purchasing power. So we have our eye on one in particular, the max Payne open edition it's max Payne and friends.

[00:01:40] And it's very much in the style of glitch art X copy. That is really emblematic of one of these art movements. And I'm excited about it, but in. I'm already breaking one of the rules that I claimed I was buying a piece that is one eith I claimed I would only

[00:01:59] you said I believe you said,

[00:02:01] over 180, so I think you may technically be okay here and I even on, and I'm going to go a little further here on nifty your gas lists.

[00:02:10] Oh,

[00:02:11] Until you get it out you've gotta, you gotta pay something to get it out of the the wallet there, but it's this is the first time I've heard a lot of people talking about nifty gateway in awhile.

[00:02:21] They do get a lot of big artists still. I was looking through some of the recent drops, but it seems like people were really excited about this one. And X copy is an artist that little. Oh, it's everybody seems to know beyond even if they're just into maybe PFP and FTS profile, picture type projects, they still know the name X copy.

[00:02:42] They recognize X copy. And a lot of people still don't have it. Don't have a piece from him. So this is one of the this should be one of the biggest mints that he's done. Maybe the biggest there has been some criticism about the one eighth price and. It thinking that it's maybe too high looking at what's out there right now the cheapest four piece is about three and a half E I believe.

[00:03:06] And that's that's an addition of 600 from NFT boxes that was done last year. So you know, I, it is an expensive mint. It is also quite a bit lower than what the market is priced at right.

[00:03:20] now. I understand why people think it may be too much there are. He did it.

[00:03:24] It is it's an artist that has proven he'll come back to pieces and will deliver value. And doesn't forget as collectors.

[00:03:30] And so to clear it up a bit more, an open edition means that as many times as humans, click mint, I guess bots too. But as many times as mint. In a window of, in this case, I believe it's gonna be 10 minutes and it's going to happen in seven minutes, by the way, let's keep an eye on that clock. But in that window, as many times as humans, click mint, that is how many will be in the marketplace.

[00:03:52] Is that correct?

[00:03:53] Yeah. that's how they do that. Open edition. It's not my favorite thing to collect or men just because you don't know how many will be there at the end. And as it's there's been many open additions that have left people without much of a secondary market. I don't really expect that to happen with this one.

[00:04:13] I don't think that it's going to be. A piece that will see a sudden rise in value. But I also think that if you're looking for a long-term hold for me and artists, that will be considered one of the artists that really was. Bleeding edge of going into NFTE art. I think it's a good play there.

[00:04:33] Because there's still a like I said, it's still a pretty high priced artists to get into otherwise at three and a half feet.

[00:04:40] Yeah. And I think it's, I just, I really I'm excited about it, but I also acknowledge that here's what will likely happen and I think it will be interesting cause the listener can go and currently look at what is max pain trending at on open sea or on nifty gateway, because it's weird.

[00:04:57] It'll be a dual market as well. And there's going to be a lot of flipping and some FOMO. I wouldn't be surprised to see the price actually get below mint. I would be a little surprised to see people dip below mint because I think the people that are knowledgeable of X copy one, understand that place and are likely wanting to hold it.

[00:05:16] Like the, my problem is that like I'm walking up this money for a very long time because I want to hold it. I just I'm excited about holding this particular artist and I respect. That he has proven and conducted himself in the space sort of giving access to previous holders and really just maintaining a style and consistency of work where you can look at a thing and.

[00:05:35] That is an X copy style in the same way that you can say oh, that is in the style of Monet. Oh, I get it. This is like an impressionist style. And so it checks a lot of those boxes, but I wouldn't be surprised if later on this maybe drops down and I'm emotionally prepared for it because what we were talking about the other day what would you buy and hold for three years?

[00:05:57] Like something like this probably.

[00:05:58] Yeah.

[00:05:59] absolutely. If we had a chance to do that with one eighth of that five towards this it's something that I would absolutely be willing to hold. So I think one interesting thing that we haven't talked about here with this drop is that it's some of the earlier parts that I alluded to earlier. People that were holders of an earlier nifty gateway meant of his a, it was called afterburn.

[00:06:22] There were two pieces, two parts of that after burning guzzler. So you could take an afterburn and enter that into a drawing. So there were about 870 of those, afterburns before the. You could enter any one of those into a drawing. If it was selected, it would be burned. And in return you'd get a green version instead of the red version that was common in the 870.

[00:06:47] So it's a more limited edition version. So then it's reducing the supply of that initial piece too. So then the second part of this. Still coming up here is if you can take two of the afterburn additions it made actually going right now, as we are speaking you take two of these afterburn additions and burn them for another open edition.

[00:07:08] It's actually three different open additions. You can select one of three and. Get any one of those three, if you do burn those two, of course you lose the two of them, but you get a very exclusive piece by doing so. As we're recording this, the floor price for those afterburns, that's been going around six and a half hours, the high sixes, low sevens.

[00:07:28] So it's a pricey piece. So burning two of those is big by. It should be passing some of the value to the new piece, but that's a lot to do. So you're also putting it all into one piece then. It's an interesting drop, but as you're it is an example of how he is coming back to old pieces.

[00:07:46] And I wouldn't be surprised to see this open edition used in a similar manner for our drop in the future where you can baby burn pieces or somehow reduce the supply of these so that it's not a huge addition for us.

[00:07:59] Yeah, and I think you were speculating. Hold on two minute warning, two minute and 50 seconds more and let's not talk through.

[00:08:05] thank you.

[00:08:06] The over-under that you said you think 5,000 of these things are going to be minted.

[00:08:12] That's, it's a high number. I don't know. It's a number that I heard. It was listening to it, a Twitter spaces. It was a number of, they were floating around there and it didn't seem far off to me when I start thinking about the demand that is out there. I was looking at some numbers today of what I could put together for X copies.

[00:08:30] Secondary market. I've found that there's about 25,000 each that's been traded on secondary volume. So a lot of that I shouldn't say a lot of that. That's actually a small number of that is just one-on-one one-on-one work, which is on super air. A good number of that has just been. Purchased originally, and then held by the original mentor or purchaser, I should say it's done super at the artists typically Minson themselves.

[00:08:55] But. Sorry, but there has been a lot more there's been a lot of grading that it's a good secondary market, it's it? It doesn't the prices don't dip much just looking at it over time there's, it seems like the interest is growing. So I would not be surprised to see it go that high it's.

[00:09:13] I know it is

[00:09:14] All right. So you're going to take the over, I'll take the under, but you realize we're talking about $15 million in event.

[00:09:20] Yeah, I know that is, and it's 10 minutes. I hope that I'm high on that one. I just, because I want to, I'd like to

[00:09:27] sure. You're all set up on nifty. You have to get that prepaid Ethan there it's

[00:09:31] I've got that. I've

[00:09:32] and they blocked certain cards. They're like, oh, sorry. No capital ones. And oh, it takes five

[00:09:37] Oh, you can move. You can send me from a from a wallet as well.

[00:09:42] correct. Yeah, they've done. I will say a lot of work. They've done a lot of work to improve the UX at nifty for actually integrating with the rest of. No crypto interfaces and wallets and I hats

[00:09:56] are we here? We get to take a look

[00:09:57] We got 42 seconds. You're going to refresh the page or not refresh.

[00:10:00] You're gonna wait for it to happen. What do you want to do?

[00:10:02] I I don't have a lot of I don't have a ton of experience on these nifty gateway sites.

[00:10:08] a bit of a nifty X brown, go ahead and refresh. I don't want to get caught in the page cache with, cause I really like the other game is like mint number, right? So oh, when you know what mint number do you get? So if you're not first, then you're like, oh, don't want the hundredth or something or what number you got?

[00:10:23] at the top of this at the top of the screen, when you do a refresh

[00:10:27] Two, one mint, prepaid Eve, my alarm going off in the background purchase, complete Alexa stop.

[00:10:36] also. Wow, that's a good price for each right now.

[00:10:39] I was watching it all day. I was like, of course. And the last two days, this thing is like freaking rip.

[00:10:44] Not good for purchasing, I should say. Good for

[00:10:48] I feel like he does the exact opposite. I always wanted to do. Yeah. Oh, I am so pleased by this. I am very happy.

[00:10:55] So now we can watch it. We can actually watch this live. How many are minted? I believe I was just noticing that we did the other mince that I was mentioning where you could burn two of these. They are complete. So you can take a look at the number of the number that were actually it did.

[00:11:14] There it'd be.

[00:11:15] Max Payne, open additions. I don't see. But I always want to come back to this like really quickly and why we wanted to do that. Like the team buys an X copy live, like this is part of the attraction of. Alive drop. It is part of the excitement that frankly NFTs have we were saying like, oh, you're just trading things like right now I have the dopamine rush.

[00:11:38] I'm like actually excited. I was nervous. There is a whole process there. And now like a hilarious story of oh, when I bought that thing, we were doing a live podcast. This is one of the things that. And I'll use the word addictive, but hopefully with the lower case, in the sense that like it's fun and I would probably do it again.

[00:11:58] Hopefully not at that price Angeles, the last time I'm going to spend one Heath on something. But I think hopefully we conveyed that and capture that. And then the people listening to podcasts, probably minted things before, but that's one of those thinking about onboarding for new people.

[00:12:12] Type of excitement and experiences that I think if nifty actually gets right there, like it's pretty easy to onboard there. It's clean. You heard us click done as opposed to oh, wait a minute. Am I writing to a contract? Oh, this site's a little weird, what do I it's,

[00:12:26] Yeah, absolutely. It's it is very easy. It was actually impressed me how quickly that went forgot what it is like when it is nice and smooth, like that it's like minting on polygon or something where you don't need to just wait for the gas to get through. So I was looking also at those other additions that I mentioned just to give some context there.

[00:12:46] Let's see, 2134 and 33 of the various pieces. So that was another 88 total additions. So it means that there were another 176 of those after burns burned. So there total of, let's say 276 of those 870 burned. Today's drop of those. Afterburns significantly reduce the supply of those afterburns.

[00:13:11] I'm also giving that collector, some new pieces to get into that others don't have so more unique pieces and I think this is a pretty cool drop. In general nifty does the you're right. They do a great job with this part of it. The like a lot of other platforms, these specialty platforms, I would say it's not just nifty.

[00:13:29] They don't do much to really encourage the secondary market. It's okay. When you've got an artist. Like X copy. And there's other artists too that have big fan bases and don't run into the same issue, but there's a lot of artists that don't have that. And they may make some incredible art, but there's just no secondary market there.

[00:13:47] And it's not necessarily just the artist's fault. I think these platforms can do more to encourage the secondary market and make it better for collectors and artists alike.

[00:13:56] Yeah, I'd say where I've been burned most frequently on nifty. Cause I bought probably a lot more than you have on this particular platform is first time artists that have had success in another industry sphere or sector and are coming over for the first time because there's a ready-made audience ready to go.

[00:14:16] doing the hard work of saying let's build community, let's build my, my persona in the crypto community. And with, without that I think that's a big lesson. All right. Quick update. There's five minutes left in this mint and Andrew, you're going to be like, shockingly, do you know what it is at

[00:14:34] I am not looking at it

[00:14:35] five thousand one hundred and forty five thousand one hundred and four.

[00:14:39] We're halfway through. I know it will slow it down. We'll see what

[00:14:43] It's been slow it's rate of its rate of increases is definitely slowed, but so that's, we just watched 15 million psych role and I'll say the site didn't even hiccup, right? Not so much

[00:14:54] So I was, I did run into problems. I ran into problems initially when I went on to just check the auctions, but they. They did a quick refresh. They pause the site for about five minutes and they actually added some time to the initial options I noticed without running into huge delays or needing to send out notifications that just did it and took care of the issues.

[00:15:16] And then the site worked perfectly after that. It was.

[00:15:18] Yeah congrats to progress. The next cabin is quite a pay day.

[00:15:22] So I'm just curious are when they do open additions here, or is it limited to one per wallet or people minting multiple per wallet here? Do You know that this George, it looks

[00:15:34] You can keep buying them.

[00:15:36] Oh, no, shoot. No. I may have just accidentally purchased another. I think I may have accidentally bought another one. I was, I'm very used to having to be able to click things and then have a lot have the confirmation come up from your

[00:15:52] Oh, my God. Did you just buy another one?

[00:15:56] So it looks like I bought two of these. Okay. All I am not editing this.

[00:16:00] Be careful what you click. this is a live lesson and here we are. I'm all right with that. Like I said, I think it is a good long-term whole, luckily I You have the ease that I'm okay with that purchase accidentally. I am used to a my, my wallet where you can click things on the browser as many times as you want.

[00:16:20] And the browser doesn't matter because you'd need to confirm it in your wallet. And that's not the case where you're on nifty. Like I said before, it is a very smooth baby, too smooth of a process for some of us. I love it so much. Good. Probably a good. So if you're listening to this, there may be somebody trying to sell one of extra X copies on the market. Congratulations. You were probably the 5811th person to buy one.

[00:16:48] Like I said, I think there is a good chance. There'll be a burn mechanism to this at some point. So.

[00:16:54] may not be so bad to have a couple. That's what I'm going to go with. Anyway. Tell him myself, it's a good move for the future.

[00:17:00] I feel we've gave we gave a good summary of what a alive mint is. And we'll do this later. Those of you listening at home, Andrew is rubbing his face and a little bit of this belief and he has turned a brighter shade of red than I normally see him. He has a little flush.

[00:17:18] As one might be let's talk about some headlines that we were going to share now that the

[00:17:23] sure. Let's get

[00:17:24] excitement is over.

[00:17:26] headlines here, man. It has been, ah, there's been a lot going on and it's hard to keep track of everything. You've got. Let's start off with what you've got here on the top here, George.

[00:17:37] Sure. At the start I like following what dapper labs and NFL and the whole ecosystem is doing. And the recent news coming out of the block, crypto.com is NFL Lucy's rules, loosens rules around crypto. Company sponsorships. This is the sort of can they buy a stadium? Can they support a team?

[00:17:57] And it's just going to increase the amount of crossover advertising. Obviously the super bowl was very crypto Laden, but this is opening up. I think the team level, if I'm reading this correctly, the team level types of promotion and relations Yeah, I saw this. And I noticed that they said that it can't be used for merchandise or experience or for exchanging for that sort of thing yet. So it is just advertising, so they can't have direct Direct correlation with these assets yet. So I think they're trying to keep them away from things like NFTs for tickets, but I think it is a a start and hopefully we start to see even more there. One more nuance in here actually also is that the NFL allegedly, I don't know how they track this. According to some reports spent 600,000 lobbying the sec and various government either. Agencies on blockchain technology. So it's interesting to see like the lobbying efforts to move and adopt crypto coming from a lot of different sectors.

[00:18:53] Yeah, that is interesting. Very, yeah, it's a lot in that NFL tends to do pretty well and getting their way.

[00:18:59] All right. You want to drop the big news?

[00:19:02] Sure. Yeah, we've got big news from UGA labs. The creator of board apes got all sorts of big news from them. Let's see, they've raised $450 million. In a, I guess it's actually the seed round. So the study record for the largest ever first seed round, it was their first funding. First outside funding they take, they had taken this.

[00:19:22] Is that a $4 billion valuation? This is big. They took this. Was Andreessen Horowitz leading the round here. I think they were they were the biggest investor by a pretty good margin. I don't know exactly what all sports in there. I did a hear of a lot of NFT influencers and a D traders that were also involved in this round.

[00:19:45] They made a point to make sure that anybody that was investing had to own a board ape in order to even be eligible to participate in this round. There it's, this is big it's huge money. They also own the crypto punks IP as we've discussed. So they have a good chunk of the market now.

[00:20:08] Yeah, valued at 4 billion. After that investment, it is pretty massive. And and have having here they're they also have a drop for a teaser the other side. What's that about?

[00:20:20] Yeah. So this leaked on Friday night around, I think. PM Pacific time. So not a time that you would think that they would be putting out a video. It seemed like it leaked out. And maybe it was a little bit earlier that than that. And then they put it out officially after that got the official version out there.

[00:20:38] So it was this. Video of rendering 3d rendering of the apes, but then they've, they are joined by let's see crypto punk driving this spaceship eager, say crypto cam. I'm sorry. A cool cat in there. A crypto's a let's see, I think there's a doodle in there.

[00:20:56] I'd see it nouns in there. I

[00:20:57] nouns. Yeah. There's so the, yeah, so they put a handful of projects in there that cause a lot of speculation, they, this was done to net version of the other side by the doors called the day.

[00:21:10] They said, see you on the other side and it could be it's coming. April. So not a ton of details, but later on, there was a, another leak. So I don't know what's going on at UGA labs or if these are intentional weeks, you'd think they would find a way, a better way to get these out there or something.

[00:21:26] But there was another leak that had some of their slide deck alluding to, or not alluding saying that they want to build a metaverse. So I think.

[00:21:33] we are seeing a Hugo lab metaverse on the way, and they are bringing other projects with them. Big. They want to play with other projects, not just their own sounds like they will integrate with with the projects they mentioned in there.

[00:21:47] I would think as well as project. So with the bigger projects that maybe don't have IP restrictions.

[00:21:55] Yeah, it's interesting. And of course a coin was announced as well. I think we're going to dedicate a whole episode to like understanding the power that you've allowed is now going to be building with eight coin. It initially dropped I think it was like March 18th, 17th, 18th, and it immediately shot from $8 to 16.

[00:22:15] And now seems to be hovering at $13, but more shockingly is the market cap. And if I'm reading this number right, is 2.2 billion. And it's like the 60th coin on the overall list. So that's pretty impressive. My thought was that it was just going to pump and drop off a cliff so far that does not seem to be the case.

[00:22:37] And our first sort of week of it. But we'll say I have I have not gone near it.

[00:22:42] No, I haven't either, but yeah, I think you're right. We need to talk a lot more about this. There's a lot going on here and it's certainly had effects on a lot or just every part of the NFTA ecosystem at this point.

[00:22:55] Yeah. You mentioned the X copy coming under fire for the one eighth. We included that link in the show notes, and I think that's an important note and also the final tally, cause it just closed 7,394. That means $22 million

[00:23:13] Wow. I did not think that I would be off by that much by being under with my guests of 5,000.

[00:23:20] the numbers

[00:23:22] I did. Yeah, you could see, I was really just trying to help myself when

[00:23:27] should have been 7,393, but now the inside scoop

[00:23:32] the momentum was really shifted by my second purchase. There.

[00:23:36] the big, extra move by rent. Hilarious. Alrighty. I think we can park it there unless you got anything else for us.

[00:23:43] No, I think I'm good. I think we we've got more to talk about soon, but I think that's good for today.

[00:23:48] All right. I'm going to go and keep refreshing my profile until my NFT shows up. This is always the, like the part that like, I'm like, oh, when does it show up? When does it show up? Am I sure it's going to show up? Cause I didn't see it on the blockchain because it happens. It's a pre-process, that's how they do.

[00:23:59] And so smooth and gasoline, it's preprocessed and it doesn't show up right away. Now you're like, I'm pretty sure I did it. I got a confirmation. Right. Out

[00:24:11] All right.

 

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Are Recessions GOOD for NFTs?

Wednesday Mar 23, 2022

Wednesday Mar 23, 2022

Theme: Are recessions good for NFTs?



Transcript:

[00:00:00] today on all about affordable and FTS. The question session is actually good for and FTS. Andrew, what do we say in the news?

[00:00:08] Yeah, what are we seeing out here? We've got new companies, new, what I'd say traditional finance type of companies coming into the metaverse. We've seen lots of companies keep buying properties and filing different trademark.

[00:00:21] Applications for metaverse usage and we've got this terrific last couple of days, you've got American express and HSBC, both announcing plans for the metaverse. I think it's just with trademark applications at this point for Amex. Although I believe that HSBC is actually going the 3d world route and acquiring some land rate in the sandbox.

[00:00:44] So actually haven't noticed many financial. Institutions going towards the sandbox. It seems like decentral land has been the platform of choice for whatever reason for financial companies. But certainly I've seen a lot of activity with the sandbox. So interesting that HP SBC has chosen to go there.

[00:01:00] Yeah, it's interesting. I was like, which one you're going to go with? I would say to central and far more established and more detailed graphics and user interface there. As far as that goes, in terms of being able to run around an actual metaverse, but people are moving to.

[00:01:13] Yeah, and it seems like they are taking it the very literal metaverse way of being greedy world.

[00:01:19] We'll see if that ends up being the way that a lot of people play with the metaverse or interact with these companies in the metaverse. But that is the way there they seem to be going at this point. In other news, we've got English, premier league. We've talked about them a little bit and how the bidding was getting crazy.

[00:01:34] But the thing eventually went to consensus a big OT company in the NF or in the crypto space. They are the creators of Metta mask in FIRA an IPA or a API that runs a lot of NFT. Services behind the scenes and a number of other things, but it's a big company. So they are partnering with the premier league and it's a big money.

[00:01:57] And he goes a three-year deal for ended up being, let's see almost $600 million. So we get a lot of money here and I would expect big things from this partnership.

[00:02:07] Yeah. I think big sports, new audience, global market. I really like global market coming into it because. The more, you can also diverse away diversify away from just American buyer's needs.

[00:02:19] There's less oh, here's this week happened to be good news from the executive order. Who knows what next week is. So the more you've got a global stability in the market, the better and healthier, I think you end up with as an NFT marketplace.

[00:02:32] Yeah. And I see you've got one other item that you've just added to our list.

[00:02:35] Your George, what do you guys are tasty?

[00:02:38] One. There are whispers of a meta mask airdrop area. Again, being the stuff that gets handed to you because you are using a platform, holding an NFT or doing something that indicates that your wallet is in fact involved. And, mask is the probably number one safest smartest way to be interacting with your NFP is logging in and going between different websites like open seat and others.

[00:03:03] They have confirmed that they are going to launch their own token. The rumor and now we'll do our best to keep track of it is that anyone has made a swap on the platform, may get an airdrop when they introduce their own token. So if you have not swapped on metal mask, maybe consider, especially when gas is low throwing some money between USBC and Ethereum.

[00:03:25] Again, this is not financial advice because I'm talking about. Airdrops.

[00:03:29] Yeah, that's a good point, but yeah, not a bad idea to go use the protocol, a big use meadow mass, and you'll make those transfers. They do take a bit higher percentage. They find you the best price when they're doing a swaps, but they do take a small percentage.

[00:03:44] That's how they make money. So of course that's how. That's how you'll be eligible for the airdrop. I've heard some people are placed apparently posting jobs for people to just create wallets for them and use them like this. So there are many people preparing for this in the same way. But it's not a bad idea to go ahead and do that and make yourself eligible with this.

[00:04:04] Yeah, for sure. Right there, hand stuff out. You might as well get a little bit, and also quick shout out to the ransom NFC market data. You've been doing some heavy lifting, I'll say on really gait, really great dune analytics dashboards looking at seven day 30 day 90 day looks at average trading volumes and across different platforms, including the theory and polygon and often ism.

[00:04:30] There's some really great stuff. So by all means, find that in the show notes and take a look at some of these really cool dashboard. Yeah, we

[00:04:37] don't quite actually don't have the polygon optimism quite yet. You sign up

[00:04:41] there,

[00:04:41] you click and click on it. Yeah. You'll get to sign up for when we've got that coming, but do you have some things in the works there?

[00:04:48] So those are also available on dune analytics, which I use to create these dashboards. It's now on a site that will pull in some additional API for added data, still add in some more. Areas there that's a random X, Y, Z is the easy way to get there. And as George mentioned, we do have that in the notes as well.

[00:05:06] Oh, that's awesome. So speaking of some of these analytics, I can't help, but note that chart goes down, numbers are going down, I think the question of recession. In the U S sense is in question, looking at fed rate hikes recently saying, how do we stave off inflation, but also avoid stagflation or a full recession by causing, the money tightening in the wrong ways.

[00:05:33] And I think in a big picture, the way I look, I don't understand macro economics. I don't think there's anybody who really does. It's really complicated, but. Less money in the system, less discretionary spending probably leads to less investment in things that are probably not critical, such as NFT investing in playing around in general, right?

[00:05:54] The looser, the wallets, the more free spending cash that people have, the more likely that something like a luxury good, which I'd qualify it and MTS would go up and then conversely, bad things happen if recession. So that's kinda like where we land, but I think there's actually. Upside to moments like this.

[00:06:10] Yeah. Yeah, I think for one, we really don't know how a recession and the NFTs will go together. We haven't seen this and FTEs are young. We haven't seen them go through a recessionary market. You don't know if it's coming or not. We've seen certainly cold cycles in the crypto market. Yeah.

[00:06:27] In those cases as we've mentioned, in our last episode, we had a good report from Nansen that discussed how NFTs have actually performed quite well as a hedge against crypto prices, or at least a theory of NFTs have so maybe we'll see that that same scenario play out.

[00:06:46] That being said, I could see some prices taking. Quite a dive. If real discretionary spending starts getting I don't know, drawn back a bit. It could be tough to to hold on to all of these this JPEG.

[00:06:58] Look, we have seen it, as you said, when, there was the big market pullback in result to the pandemic, Bitcoin dropped to 3000 eith was trading well under a thousand. And those were times where conviction was tested and had you bought in and understood wait a minute, this is something that's not going to go away.

[00:07:16] I think. Recessions or times when uncertainty is shaken out of the market and people that are just don't have that type of thesis that wait a minute, this is something cultural. It's something that is going to have long-term staying power there's opportunities and better opportunities not to frame it.

[00:07:34] Jump in and buy something that's wildly overpriced for where you are with height. It's actually a safer time to get in and test and to some of these projects, as opposed to, maybe where we were that was like red, hot back in, October with both the price of E and NFTs launching every single second.

[00:07:53] It was just, it was really easy. I will say to this lose half a needs just because. Chose something that you're like, oh the rocket shit's going to take off. I need to jump in. And this is where the prices are. You just normalize these much higher numbers, much higher risk. And I would say on the plus side here that recessions or temporary pullbacks we'll be good to settle some of the like ridiculous projects.

[00:08:15] I think that we're rising up and shake out the ones in focus, the ones. Have staying power that, that maybe you just.

[00:08:22] Yeah, I think that's a good point. I think that's potentially how the market may react is really getting rid of the low quality projects and focusing more on, on the good projects.

[00:08:33] And, as we've discussed a little bit in the. There's still a relatively small number of good solid NFT projects with reputable teams that you can really rely on. And, that's where people are going to find their way. I think if you've got to sell everything and, unfortunately some things, it gets tough because they, the liquidity dries up quickly in some of these projects.

[00:08:54] But I think that will help to focus on the ones that are building that are doing new things. And it'll give them. I dunno some more time to do that. I think if this does happen versus what's happening right. Or has been happening in this past year, which was, you had to always be the loudest and shiniest object, you had to always be getting attention and that's not, that's not always great for the health of the project.

[00:09:14] If that's what the team is busy doing and not necessarily building things that are going to have lasting value, I can go the wrong way. So I think there's some opportunity for the great projects to shine through here. And I think that. Know, I think that's what we need to look for and start looking at, which ones are going to handle this well, and which ones are more likely to maybe not even turn it run but just not be able to navigate the the next, whatever, months or years bring.

[00:09:42] I also look at it as a time to kind of dollar cost average in two projects that I have conviction on that I believe in, or I believe in the team. And just so happens at this moment in time. They're just getting dumped on for instance right now Pegasi it's it's in game currency, visit.

[00:10:01] Has dropped significant. It went from, hovering around, like it got up to 28, 20 1 cents to now it's at, 0.0, zero six. It's not looking great, but I still believe in like where they're driving and, I was actually looking at their the founding NFTE assets, which have just dropped considerably.

[00:10:20] They haven't the last time they were this low, it was like around when they were getting like minted and original. So I think there's opportunities when. Recession overall, downmarkets pull down projects that maybe you have a personal conviction in to say oh, interesting. Now it's being tested, ironically, I think Zed actually was going through a much more downmarket when I was talking about in the fall, when everything else was going up, Zed was just getting crushed because of various reasons. And now it's actually on a, on an upswing, there are ways of looking at individual projects as micro economies because look, it's so small.

[00:10:55] I think this is important. It's so small that even. A macro recession environment. The fact that only a handful of people from a percentage basis are holding NFTs and more people will be coming in. It may just simply overrun it anyway, it's, there's a leak

[00:11:13] better.

[00:11:13] The space and people are building Eden when it's quiet, I'd say maybe even, especially when it's quiet and that's not going away. These people have raised money to go and build these NFT products. There's going to be more products coming and, they may not all be great, but I think there's going to be some real winners here that will.

[00:11:31] Bringing more people into the market we'll keep and tasting people to keep their money in NFTs, not go looking necessarily for, I think most people in NFTs or otherwise looking at other crypto assets and that may not also be, may not be most people's expertise or interests, especially if they came in through NFTs.

[00:11:49] So I don't know that this market is just going to go away because maybe the prices go down a bit. I think it's going to take a, I think the, it could shift a lot of. And that we're not, you personally, I'm going to see every project be able to just mint out right away. I didn't say prices. And as he said, that could be, it could be a healthy thing for this market.

[00:12:07] All right. That's where we got a little silver lining on what we're seeing in the overall potential recession, but positive things to look forward to. And Hey, on the upside, looks like Keith is. It's trending up, but it depends on what hour you're looking at.

[00:12:21] That's right. We don't know what day or hour,

[00:12:23] we don't know when you're listening to this, but Ethan is probably, hopefully

[00:12:26] let's just tell you it eats up.

[00:12:27] Okay. From at some point.

[00:12:29] Alright, thanks.

 

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What if you had to HODL for 3 Years? | Project: Avastars

Monday Mar 21, 2022

Monday Mar 21, 2022

Transcript:

[00:00:00] Today on all about affordable and FTS, we're doing a little, what if game? What if you had five Ethereum, one month to buy NFTs and you had to hold them for at least three years. So you had to hold all three years for NFTs that you bought this month. It's just a fun thought experiment to see what we come up with.

[00:00:20] But first, Andrew, what are you seeing? 

[00:00:22] Yeah. What do we see now here? Let's see. So we've got March madness just started as we're recording this and we've got all sorts of NFT drops around this. I've been surprised by the number of NFT drops here. And if NFTU was the first one that I heard about, and then there was a let's see, another one from draft Kings.

[00:00:43] But they've been quite popular. They both sold out the draft Kings one. It was a draft Kings. I believe it was their first direct and NFT collection that they, they had. Created before they had just hosted them on their own marketplace. That was 12,000 pieces. The an NFTU from recur was let's see almost nearly 18,000 and FTS there they've been popular and selling on secondary as well.

[00:01:08] So I'm surprised that it has been as popular to is took me by surprise here. Anyway. I expected a lot during the Superbowl. Didn't really think about how much it may come into play with the NCAA tournament here. And I think. It's interesting for a couple of reasons that this will have exposure for a whole month here, essentially as the tournament spans multiple weeks.

[00:01:30] And the other part is that we have the, we do have, the players could potentially start using NFTs as a way to. To cash in on their likeness, which has not been possible for the most part in NCAA history. It's interesting that those are coming at the same time. So watching that kind of closely over the next month to see how much, how much their exposure NFTs get during the during media publication of the events and how much the uh, uh, the market responds to to these NFTs.

[00:02:01] How much do you think is dapper labs? Again, the folks behind NBA top shot and also now the the new NFL all day behind any. 

[00:02:09] No, I haven't heard their name as being directly tied to any of this, I don't know if there's. Who knows the reasons that maybe you would think they would be there, but I don't know if there's maybe an MBA issue with NCAA or I, that's a, that's outside of my knowledge, but I haven't seen their name come up in any of this NCAA NFT talk.

[00:02:28] Yeah, it says N F T U largest unified collegiate sports, digital collectible NFD marketplace. Okay. Not going to be on my buyers list, but I think it may help people jump onto it. And if you're able to bring in some of the sports audience, you've seen a lot of success from dapper. Good luck.

[00:02:44] Yeah, absolutely. It's not on my list either, but I am I am interested in the news of this or of these collections.

[00:02:50] Okay. We have the Pixar drop, so I love Pixar and we've heard Disney getting into the NFT world. So what is this Pixar NFT drop sells out on the. 

[00:03:03] I never actually said that out loud. I think it's V the BV platform. So yeah, drop, they had a number of different, our picks picks our characters from their various movies available as NFTs, and it was popular. Not surprising that Disney has found their way to this and is using their IP. I think we've discussed this in the past when we heard some rumors of them getting into this, that they'd have amazing intellectual property rights to all of their characters, all their movies to.

[00:03:30] Using NFTs and they have started doing this already. And it it sold out quickly. I had seen news of it and was actually somewhat interested and it sold out before I had a chance to to be able to admit it. And I haven't looked at it closely since then, but it has, I know that they had a decent amount of volume and let's see, it was almost 55,000 pieces.

[00:03:51] Yeah, total volumes 3.3 million. It starts type saying. 

[00:03:55] It's an impressive amount and I'm sure we'll see a lot more from Disney as they are pretty good at this startup sort of thing.

[00:04:02] Yeah, I've heard they're decent at branding as far as yeah. Something to check out. Yeah, a lot. I don't know about that. Big players in there. And especially if they're doing it the right. way, we've seen also big players do it wrong, with I would say last year tops, I was like my biggest like heartbreak.

[00:04:17] So the question is it a money grab or is it a brand building established play? So we'll wait And see there, but Hey, maybe it ends up on the affordable list. Probably not at those prices. Okay. 

[00:04:29] lastly, we've got a report here and just to report and a lot of people have talked about how NFTs are. Inversely related to crypto prices. We've talked about it a bit. When crypto prices don't do well and FTE prices tend to do better. And the thought is that you're spending less us dollars for the same NFTE.

[00:04:49] Doesn't seem to hold as true as the prices also do well during a NFE bull runs for the most part. And there's some news or report from Nansen a an FTE analytics company that has that they put some numbers behind this. So there's a very negative correlation between the two. So it's a interesting report here to jump a chance to dig into this George.

[00:05:11] So it was interesting when they're building up this NFT 500 similar to an S and P 500 or the blue chip index. So they're putting this index and pairing it against saying, how does this perform against prices? When Eve goes down, how does this index go up? Because it's hard to say NFTs as a whole.

[00:05:28] So they're basketing this top group and showing how it shows strength. When in fact may maybe going down. It is giving me hope that during a, down a down cycle, which is where we are, I think Right. now that actually. Still makes sense to be shopping for or potential NFTs are the keep in mind, the historical window that we get to look at something like this is remarkably short, especially hilariously comparing it with something like the S and P, which is, standard and Poor's history of the stock market, as opposed to history of when we were putting digital images on the internet.

[00:06:03] Yeah, but the history, and I think there's a few more regulations involved with going public and trading on the sec regulated market versus minting a new collection and being one of the top 500 at this point. Doesn't exactly sound Bluechip. I think that may need to. They need to be reduced somewhat.

[00:06:22] I didn't read that it was 500. I did read they're basketing these in different indexes. I think it is. I think as we see the market mature, we will see different index products, even if they're just for tracking and tracking the health of the market. And we'll see them come together that look at NFPS in more nuanced categories, such as maybe 3d worlds or PFP projects and get a little bit more nuanced than just saying these are the top 500, I think for awhile, we probably should be hesitant to say that there's really 500 quality and FTE projects out there.

[00:06:54] Yeah, that's fair. All right. Should we move into our affordable. 

[00:06:57] Yeah, here we go. What do you got for us today, George? You get another one? 

[00:07:02] I look, I fell bad again. I apologize already last episode.

[00:07:07] for last week, I felt like I didn't bring the as awesome as I could have. And here it is, this is the killer one. So this is looking at a project called add a star Ava stars. And it's our creator is someone like Jimmy dot E I believe it is, but at a very well-known collector, throwing back to it was established in February of 2020, and it is all on chain generative characters.

[00:07:34] And it was, I would say second to auto glyphs for full on chain art, according to my rough NFT history, and also a sort of collective agreed history of this. Along that same time was also chain faces a project that we called out a little while back, but avatars is all on chain. These images that are, they look like a profile pic and they have various designs and formats and layouts.

[00:08:03] And currently I will say the floor of this is that 0.1, one, five, which I think is remarkably low for a project like this. I will say that. The project also now has the ability to mint replicas. So when you go in, make sure that you're looking at and finding originals, and as best I can tell you can find that in the in the filters of course, but the replicas.

[00:08:30] the wave attribute I believe is what you're looking for. There. A prime and replicant.

[00:08:35] there it is. Yeah. So the primes are 25. Thank you, Andrew. There are 25,000 primes and only 326 replicants. And again, the ability to recreate new ones so that you can merge and mix traits is paired. As long as you buy an art token, art tokens are currently around 50 bucks. So I think there's one. Interesting history here. And it's just, I feel like it's just getting overlooked because of all of the new hotness running around. Andrew, what do you see on this project? You actually, you're old enough to have actually mentored this back in the day.

[00:09:10] So I had one yet, so they've got different series of these. And I had one, I believe, or I had a couple from one of the later series. I didn't have one from the earliest series. As I look at these now looking the gen zero series, there's only 200 of those. Those are the hefty floor price of 19.5 E whereas all the others are much more reasonable.

[00:09:32] The the gen one or the series ones looks like they start at a 0.1, two, five. So I think it would be interesting to look, know, if we're looking at some of the historic value, I think it'd be just going to look at the release dates of those. I am sure the is that again, zeroes are actually the oldest pulling up.

[00:09:50] One now. So the gen ones was still like this pier was actually. To Jimmy, the creator on May 12th, 2020. So that's actually pretty interesting that is sitting at the floor right now of the gen ones. That's a pretty old piece and has some historic value. Also consider when looking at this as just the various rarities of the attributes.

[00:10:13] When I, so when I invented one of these, there were how it worked was you could create your character using picking various hair attributes or skin. No, Tats different things like this, but then at different times they would take a selection of the of these different choices away. Throughout the minting, they would reduce the numbers.

[00:10:36] So some of these become more rare both by the fact that they aren't available at a certain point and some are chosen by the people that do them. So it's worth looking at those, I think. Cool project still. It's a relatively, somewhat large collection at 25,000, but I certainly wouldn't say that is a reason not to to look at it.

[00:10:55] We've seen very large collections go achieve quite high for prices. Not a reason to stay away. Definitely interesting project here. And I think it's a good reminder to look at this one. I, I've realized I actually do hold one of these in my wallet right now, as I look at this I had one yeah, I had sold some, but I do have one in there.

[00:11:13] I may look at, they look to pick another up here, George.

[00:11:16] So here's how you can tell us a good project. I brought this to the table and I think, I may have convinced you to go buy another one.

[00:11:23] Absolutely. I 

[00:11:24] good project. Yes, 

[00:11:26] really interested when you 

[00:11:27] also full disclosure. I may have just bought a man bun, a gen one, man bun. 

[00:11:32] did you do it as live on air as we're 

[00:11:35] I did it live on air gen one minute. Gas was too low for meeting with.

[00:11:38] Ignore it. And also it's man been only 1%, 1% of man bonds. So there you go. Full disclosure. 

[00:11:45] I'll let you know listeners, when he matches his avatar. I assume he's going that way soon. 

[00:11:51] I don't think I can do it. But this is, so this is exactly. If we're going to tie into the theme here on the smooth transition, what would you buy right now? If you had five E and couldn't sell anything for three years, right? Those two things are unique. One of the guardrails here is five eight. Yes.

[00:12:10] This is well beyond our normal affordable project. But the guard rail there is saying like, all right, you're going to put a sizable bet. Would you buy all into one thing or would you spread it out? And then if you have the mindset of holding for three years, what does the market look like?

[00:12:24] And in some ways it takes the. This FOMO, panic of oh my gosh, this thing just ripped and dumped. I got to get in on it. Do you really think it's going to last three years from now? And it just puts a different lens on it. So I will kick off our debates saying, I, I brought out a Starz because it is an old stablish collection, at the prices run up way, way back in the day, but know.

[00:12:46] It's been mostly drama, but I think when a larger community looks at the historical context of NFTs, this has a place in it. 

[00:12:52] Yeah, I agree. I think this holds a place. I think it also has a respected creator. Very likely to stick around the industry and not not be out of the picture in three years. I think that's an important thing. We've talked about this recently and our, just our most recent episode about the role of the creator in establishing value.

[00:13:11] And you've really got to start thinking. Who are the creators that will stick with this, with the teams that will grow and continue to work on their projects for three years. And that's not easy to say at this point, because most of these projects are well under a year old avatars. We've got something different here that is, we're actually looking at something that's two years old here.

[00:13:31] And, I know that's not a lot, but it's a lot more than what most teams have at this point.

[00:13:35] Yeah. So in my basket, I would say I would be looking for projects. That are like this. And I don't have, like this full list, but I want something that was minted in 2020 or 2019. And maybe I would shop, I would put say or two weeks toward just shopping on like a looks rare or something like that to be like, All right. Let me find artists that have a cohesive collection that have been doing the work and trying to pick up. Varieties of art. Obviously you're not buying the next copy, but that's not to say you can't find some glitch art potentially in some early works like that. So I would consider pieces like that, that just have art with the capital, a types of appeal and an age to them because I get nervous.

[00:14:23] I would get nervous. If anything, if I'm buying and holding for three years, I get nervous of anything that was like minted with. Hysteria where like the last four or five months I think it's just a different atmosphere. And if I'm going to hold something through three months, I better know that.

[00:14:37] Like for instance, that the other episode I talked about calling up human park and I know that the virtual human studios is behind Zed run and they're funded and that that's a studio that's going to be around for awhile. that's interesting. Although I wouldn't throw out there. So what, w where would you throw a bucket of your five five-year magical investment?

[00:14:55] All right. Yeah. So I think this is a, it's an initially question, what's going to stick around we've talked about. One project that I, that is historic in the past and we've mentioned it. And I think Boone cats is one that I would still put some in. And I think there are some concerns about how active they'll be.

[00:15:11] But I also think that, if assuming things continue to. That the NFD marketplace continues to be active, that the team will be around that they do have plans to be on Coinbase. And I think that is good that the team will be around that long. And that it's a historic project. Going back to 2017 I don't have to look at the floor price of that recently, but I believe that's around half an ear.

[00:15:33] Could do that well on, and still have a lot to play with and get some historic value there. I like the avatars play as a another I don't know, maybe one of the earliest PFPs that isn't, isn't punks and certainly had a lot. Customizability than almost any project that we still see now.

[00:15:51] So I liked that play a lot there. Again, I think the historic value is I don't know, it's important to look at, and, but we also need to start thinking like, are there teams now that are going to be supplanting these more historic teams, as we've seen with UGA versus larva and I think that's a, that's a tougher question.

[00:16:08] To answer right off the bat. What's your thought on that, George?

[00:16:12] I think. Looking at a scan. If I just scan what is on the top crypto slam top traded top volume. I take a look at that and I'm like here's a perfect list of exactly what I would not be throwing money at right now, because one it's just not affordable. With, if we're talking about an ape or a immediate, like maybe you could grab a meet at four for that right now, but I absolutely would not do that.

[00:16:34] Because again, when I put that guard rail of five feet, I wouldn't want to put it all in one big purchase and then hold it for three years. I'd much rather see it spread across a few bets one or two of which could go to a larger return and spread out.

[00:16:50] And then, remember the conversations about reputation and what might happen there. I've seen. Other works, I think I'd want, I want to get into some generative pieces. And I know you're the expert really on, on a lot of those those generated pieces, but, I know we're both collectors of pod Gans.

[00:17:08] And I think some of those are interesting and I I would want to dig in to say like, all right, what's the generative plan. I can't afford a squiggle. I know you got squigglies for days. But what is the the affordable play of it's clear that in this moment of time, right?

[00:17:21] Three years from now in this moment of time. Oh my gosh. People went absolutely nuts for generative artwork. So how do you fill out part of that in important? 

[00:17:31] That's a good question. I was thinking about that and it's, like you said, I do have some squiggles and I look at that as a somewhat being a safe Safe play in generative art. Yes. Expensive. But I I. Tended to go there because it wasn't quite as susceptible to the, how the market is reacting.

[00:17:48] It was the first art blocks project that really led the way for a lot of these. And, again, I looked at the historic value there. So I think it's, trying to look at some of that, what has changed things, pod Gans, I don't know if it definitely changed things, but it certainly was the, it helped establish that new.

[00:18:02] That new platform for AI generated art, China. So I think trying to look at look at the pieces or look at artists that have been transformative. We've talked about a an affordable project from Dimitri cherniak in the past, I think in general, trying to look at some of those artists.

[00:18:20] Like Casey Reyes who's another, just very influential generative artist who maybe is somewhat overlooked in NFTs at this point. That could be an interesting one that I know that he has some pieces out there that are fairly affordable at this point. And. I don't know, certainly seems like he's interested in sticking around, has done a number of projects and is working on a lot of new projects with art blocks and bright moments teams that I've worked with a bit.

[00:18:44] Some other artists that I tend to think of Tyler Hobbs. I would just keep an eye out for things that he's connected to. He does a lot with the feral file. I'm sorry. That's I, you know what I have that mixed up that is Casey Rio's that does something with federal file, I believe. I think that's an interesting platform to look at as something that's been somewhat overlooked but does generative art.

[00:19:05] And another thing that we've talked about in the past is looking at non theory based NFTs. And I think. The worth putting some into a platform like Tezos we haven't gone into it a lot. There are certainly plenty of different platforms to go and do, but Tezos is one of the earlier ones and there has been a lot of generative art there.

[00:19:26] A lot of just art in general, I would say. I think so that's a, it's a tough one to filter through. We've started to look at it a bit and it's a little overwhelming. I have some pieces there from when it was a lot newer and there was a lot less there. It was a lot easier to just navigate that world.

[00:19:41] I haven't spent a lot of time that recently, but I think it may be interesting because there's a chance that there's. Some other, some additional historic value added to those pieces. I don't know enough of about other chains at this point. Such as avalanche or over. Phantom any those too, to know what the NFT world is really like there.

[00:20:01] I would stay in with Ethereum for the most part, but perhaps put a little bit into other chains to just play that potential that they end up, that those chains just end up being popular in the end.

[00:20:11] Yeah. If we're talking on Teslas, the only one that caught my eye, I did a little bit of a dive on object.com. That's O B J. A t.com, which is like the open sea, for for the Tezos and market is Tizzard's, which seems to be. Randomly generated little lizard Tizard things. And it seems to be the G project as far as that can go on that platform.

[00:20:34] So that might be my play there. I'll do more digging to decide if it's like affordable makes sense for a project to feature. But I would throw a dart at that maybe and part of that portfolio, because again, if it's been around this long, it holds a place it's ridiculous for its own. It could have value again in three years. Cause what we're doing is walking this in a box and not touching it for three years, which just forces you to think a little bit differently about it. Notably absent. I was thinking about this notably absent from my basket would be game NFTs, simply because with games I'm very bullish this year on that, but they take so much careful monitoring. And management that I wouldn't necessarily trust that it would make sense to hold it for three years, as opposed to have some sort of unique opportunity to do something weird with it. Flip it, breed it, whatever it, and so I, we get nervous putting games in, into this basket that said this is a bit of a cheat, but I have been thinking about how important. How important. I think that dapper labs is going to be in the next three years of onboarding people and specifically their flow token, I think gets overlooked. Now it's not an NFT play, I'm thinking about how. It is a backdoor into saying like, all right, I'm not gonna collect NBA top shot or the, maybe NFL, I'll take a look at it, but it could be a backdoor at the same.

[00:21:55] How do I make a bet on that platform as a whole? I'm an NFT way looking at flow token, but That's a little bit of a cheat. 

[00:22:03] yeah, that might be a little bit G I wouldn't actually rule out as an MBA top shot. I don't have much, but I do have some, a couple from season one. And again, somewhat of a historic thing helped usher in a lot of people to NFTs and. Debra labs going away anytime soon. I don't think, I don't know what the price is.

[00:22:21] There are a lot of like right now, I'm sure there are values to be had with certain players, certainly that you could put some towards that with the five, eight under the five eith allocation. And feel like he's still got a lot to play with otherwise, but I think that might be interesting again.

[00:22:36] To get out of necessarily just going with Ethereum based NFTs. And I think that is a question that we'd have, that you really have to look at when you're saying buy and hold for three years. What do you think of the chain that it's on is that network going to continue to hold value or to rise in value and are the pieces that are minted on it, going to hold that value or, are they gonna be valued in.

[00:22:56] USD. And, if the Arrium, I shouldn't mention the report that we talked about earlier was talking about a theory based NFTs and they made that very specific. They didn't, they're saying that. The value of the NFTs that are held in a theory, them were held a value better than crypto tokens over that time period that they looked at.

[00:23:16] So it's, it is interesting that you've got to take into account the value of the tokens that the the NFT is actually transacted in. And we've talked about that a bit in the past. I think, when you're thinking about this, how much are you taking that into account? Do you think of Ethereum is going to continue to hold that.

[00:23:31] I think if I'm putting out all of the horses in the race, absolutely. This year, we're going to see the improvements to proof of stake over proof of work in the merge and Ethereum as a platform, if you look at it with regards to a PE ratio, it's actually being used, burned and utilized a lot more than any other token.

[00:23:53] And in our current drop a lot of tokens have taken a haircut. Eve is still, hanging in into the mid, 2,500 to 3000 range. And it's still, half off, a high, as opposed to 90% off of a high, it is a strong platform to, to bet on all ready on a risky asset.

[00:24:10] And yeah, I think that is why we've brought up that.

[00:24:12] article and I like this basket, I think this basket would potentially do. It's risky. And we're talking about, buying images and find images on the internet. But I think having that lens, especially during right now and during recession shopping, we're where things are down to have that mindset of like, all right, there are, there is value out here and there's not a lot of customers running around, buying up stuff. Where's that value instead of. Trying to contemplate whether or not you should, ape into Abe token, which I have already warned, I believe will go down because of money versus go and find a project it's just straight up overlooked, but has long-term potential value. 

[00:24:48] Yeah, I like that play. I think going small, with a lot of these different projects is the way to go here. It's really difficult to pick one that is definitely going to work out in three years, especially at that five eighth level. I think, at any level, I should say I don't think that I could say with a hundred percent, or I can't say with a hundred percent certain that any of these will be around in three years.

[00:25:09] So it's better to take a number of risks here and try multiple things. And I think there's a lot of value to be had in the market right now, if you can sift through things and come up with the projects that are being overlooked, it's not necessarily the easiest thing, but I think we've had a few good ideas here.

[00:25:24] And I think that they can also, by looking at some of these. It's leads you to others. If you start looking at things that are admitted at a certain time, you can start finding other wallets. It may have been active at that time and what else it may have been doing. It takes some digging, but I think, if you had a month to do it, and this is the way that I would start going about it.

[00:25:40] All right. I say we wrap it on there. It was a fun. What if keep it in the back of your mind? What if you had to hold whatever you were buying for three years and it.

[00:25:46] may change how you are making that next purchase. Andrew, thanks so much for the advice and thoughts on. 

[00:25:53] All right. Good talking, George. 

 

 

Read more

Does Creator Reputation Dictate NFT Value? | Project: Human Park

Friday Mar 18, 2022

Friday Mar 18, 2022

NFTs Are Coming to Instagram Says Mark Zuckerberg - Decrypt

 

Transcript:

[00:00:00] Today on all about affordable NFTs. We're talking about whether or not the creator's reputation dictates the value of the NFT. I'm excited to get into that theme, but first, Andrew, what are we seeing in the news?

[00:00:13] Hey, George. And NFTs again yet we are seeing what we see volume trending downward over all, but it is starting to pick up a bit. I noticed on a weekly basis. So seeing it pick up a bit, and I think that's been a lot to do with board apes, recently, board apes Mutant apes, the board.

[00:00:32] Is it the board kennel? Sorry, board Abe kennel club. The three projects. Taking a lot of volume recently, there was anticipation of a big drop or drop of a new token, the ape token from the board a creator's you, the labs that has now dropped, and we've definitely seen a ton of volume there. So I think that's been part of, what's been picking up the volume, but I think that's also a spurred some activity away from those projects, as well as, some people are selling and help a lot more ease than they had, especially if they've been long-term holders.

[00:01:04] That's interesting because you're looking at an overall market past seven days, ish, up 20, 25%. But the interesting thing it's I'm not holding back. Abe anything. And so I see all this activity, I'm like, nice, but so what, it's not helping the long tail, the market, which still feels a little chilly to me.

[00:01:20] But what you're saying is when some of that profit taking occurs, it actually can lead to smoothing out in the market and money chasing up. What's the next aid. What's the next piece that people may be jumping in. 

[00:01:31] Yeah, I think so. Anyway, I've seen some bigger sales know. Some notable collections some bigger sales and squiggles. Some punks have certainly rallied on news that we haven't gotten to this yet, but the news that UGA labs has actually purchased the IP to them. That's improve the price.

[00:01:48] There need bits as well from larva labs and I've seen some big artists like X copy getting some big sales. So I think there is some some sort of distribution going on. As board apes have certainly had the top price. You're not being said after the token dropped the price, the floor price would drop quite a bit.

[00:02:06] I think it had reached over a hundred. Before the airdrop and then dropped to, I don't know, maybe in the eighties after that. I also wouldn't say that's really much of a loss if you did get the airdrop I don't know what it was worth, but I I think it was a pretty hefty sum for anyone that was holding an actual board, a.

[00:02:23] Yeah. And you're talking about that news of larva labs, literally getting bought by you, the labs our Villa. The famous creators of punks and also me bits. And you go the upstart from last year, the creators of board apes and all of the derivatives inside of that, literally just bought it up.

[00:02:41] Yeah. 

[00:02:42] I would've never predicted 

[00:02:43] Than the price flipping. This is really a passing of the 

[00:02:47] it's not a flipping. It's a binding. 

[00:02:49] Yeah. And I don't know that it's really passing the torch. I think, as we'll discuss verbal labs had not necessarily handled a lot of different issues the best and you iLabs has certainly Written this wave quite well to a, they've got a great reputation.

[00:03:04] They are commanding a hefty price. Their valuation has skyrocketed. And they've used that to go ahead and just buy the IP, but this, and, I think it has, as I said the price of both punks and B bits have gone up quite a bit on the news of this. So that's saying something that just because it came out of the creator's hands, the price improves.

[00:03:25] Yeah, we'll definitely be able to dig into that a bit. And we have some other news from the Coinbase NFT marketplace to wait for it launch exactly on Soon. 

[00:03:36] Soon. That's what we get. Oh, come on. I thought we had real news here, George.

[00:03:41] as bad as the people with as click baity title saying. 

[00:03:45] So actually we do have some Coinbase news. They are adding support for Solana Coinbase wallet does adding support for Solano, which I think is actually fairly notable Solano hasn't hasn't always been. Fully embraced by a lot of the crypto community, but I think this will obviously give a lot more people access to it, to use it in on marketplaces.

[00:04:07] The FTX NFT marketplace has been very active in this will make it easier for the people that hold Coinbase funds to go use them on FTX and Solano.

[00:04:16] Yeah, I, more the merrier and especially on a platform like Coinbase, which makes it easy to move money back and forth and across that's all well and good. And they'll just increase the size of the market. Hopefully we also have in here a little Spotify informations and that they may be getting into a metaverse play.

[00:04:37] What is that? 

[00:04:37] Yeah, that's a good question. It sounds like it's been a lot, or there's been a lot of NFT talk at south by Southwest. And Zuckerberg took took the stage at one point and mentioned that NFTs are coming soon to Instagram. We don't have a date, but it sounds like they will be able to, or they're going to offer you a minting option.

[00:04:55] So it will be a. Real NFT marketplace of sorts. Sounds like they're going to call them digital collectibles. I think that's a good move to get away from the NFT name. It's it doesn't have the best reputation as is, and it isn't the easiest to say necessarily.

[00:05:10] Yeah.

[00:05:11] I think rebranding, it might as well call it whatever you want. If it's on chain and we can. Transfer it and buy it and sell it. And it gets more people playing with the medium. That's awesome. Now, call it hats on cats for all I care, but I like the Spotify getting into it. Cause that's that music angle that we've been seeing more and more of and helping artists hopefully monetize more effectively their work like this.

[00:05:35] And 

[00:05:36] I'm sorry, did you actually mention the Spotify news? And I talked about Instagram being there. I think that's what I may have just done. And anyway, they're both getting into it, but I think the Spotify it'll be interesting to see how they actually use NFTs. I noticed recently that somewhat related news move Snoop dog took down a few of the death row records from streaming services like Spotify.

[00:06:01] And there was news recently to get Botts death row records and is planning to attorney turn it into a metaverse record label. We'll see how that plays out. But Spotify is also seeing that maybe they need to make some moves before creators want to just take it on themselves to do it and not give it to a platform like Spotify.

[00:06:17] That's very interesting. I hadn't thought of that. Yeah, I think he was able to turn out a tiny profit of a hundred Ethan sales based on one of the recent record album drops that he had. People are taking note and that means people have to move very fast. I think that is a definite takeaway here.

[00:06:34] One of the reasons we are seeing south by Southwest, a very arguably most popular trend setting technology and innovation, marketing and music film, also conference that happens in Austin, Texas every year, being dominated by an FTS is the fact that with this new tech consider for a moment what if, Microsoft suddenly was appended by a company that just started making computers last year.

[00:06:58] Think about the fact that you go labs didn't exist and where you had the incumbent larva labs already operating since 2017 had a, a huge advantage and relatively speaking within short order of 12 months, less than that, boom you're purchased. This is a weird. It's very exciting. It's very interesting.

[00:07:16] Should we move into, to the affordable project though? Andrew?

[00:07:18] Yeah, it sounds like you've got one here for us today, George.

[00:07:21] So I've been feeling a little guilty. I was down last week, just in general, my portfolio. I just felt like I wasn't bringing the heat. So I have done some digging and I think we've got some gems this week, but I'm to, I'm going hit it hard right off the bat with human. Human park.io is something I've been watching for a little bit.

[00:07:41] It's coming out of the, our friends that Zed at Zed run. As I'm a avid collector and it basically, they are a docs team. It's virtually human studios that has created it. Human. As by their description in the white paper, where everyone can truly explore their identity, human park, easy next gen web three experience platform combines community construction of the metaverse could become an explore the very next level of human interaction.

[00:08:09] Basically they've got these nudes spelled N O D nudes, and it is a sort of full 3d figure that lets you explore. Cool your identity. Each one is like a blank canvas. And so the mint is coming now. There've been doing it in various ways, but there'll be opening up to the public. The mint fee is said to be essentially just the cost of minting.

[00:08:32] Based on what I've read online the original news will be originals and I'll carry that title. And it seems as though they're going to be true avatars for exploring a space. Now there is. Tech that you download an actual application and I've gone through this process, download the application, and then you can literally just throw up a whole bunch of decorative tattoos on this very realistic looking and breathing nude.

[00:08:57] And it can be either a type a or type B, but it's an, it's a male archetype or female. Image, and it's very impressive tech. I would say I played with the pixel Mon. It is the exact opposite of what pixel minded people in terms of does the thing work. And so it's interesting and there is a lot of work that's gone into it and they've been clearly.

[00:09:18] Doing a lot of work on it. It's a little weird when you look at it at first. Cause it's like faceless avatars that move around and you can begin to see what they're starting to do. A, what do you see on this one, Andrew? 

[00:09:29] Yeah. So I'm actually trying to download the configure what they call the configurator right now, or I am downloading it and playing with it. I have been following this for a bit. I hadn't had a chance to actually try the the download here. I see it is available for both PCs and apple machines right off the bat.

[00:09:48] So I think that is a plus And as you mentioned, we were talking about this a little bit just before we started recording gear. And you mentioned that the graphics are. They're really good. It's a lot of details. So it's a, it's interesting when you're creating these that you'd see a lot of detail here.

[00:10:03] I'm opening this up now. So I, the discord seems like they've been very active there. They have, they post updates often. Maybe they get too many of them, but I see that they're very active in, they're definitely working on this. It sounds like the. The mint, there's a good opportunity to actually mint when they become available and, and I think that's one of the good things about the market right now is that it's a little bit quieter.

[00:10:24] You don't have to to necessarily pay ridiculous gas fees to look, once in a while, they'll still be things catching on like that. So we don't know. We have an actual date on the the mid yet George.

[00:10:34] It's a good question. I think they extended it. Certainly next week, it looks like. And because one of the things is after you've designed your your nude it locks in at a certain point, cause it's connected with your wallet. So careful as you're designing. And I don't want you to get locked in with something you don't like.

[00:10:50] Again, it's related, it's the same project inside of the human studios that Zed is associated with. And. It's going, it's very early and this is a team that builds for the longterm. So it gives me a little bit of comfort in that, like it's not one and done. And if they if the probability of a rug bull is very low because of its association with such an established project and the exact vacs team, and it's not entirely clear how these things are going to use, but they have plans and they have some really cool looking texts.

[00:11:19] So who knows there's going to be. Blended experience. They talk about like battle Royale and free roaming and like roadblocks and Minecraft esque type of activities. So there's a lot out there. And it's super early and I like bringing things that are early and fordable so take a look and we'll continue to share ideas and what's happening.

[00:11:39] But again, not financial advice, I'm talking about new data guitars in the metaverse. Catch it with all due financial information and respect as possible. 

[00:11:47] All right. Thank you for bringing that one. George. I think we can move on to our topic today does create a reputation dictate value, and we have. Hinted at the topic a bit, discussed it a little in relation to UGA labs and larva labs and how their reputations have certainly gone different ways this past year.

[00:12:08] And it's it's really resulted in a big win for you. The labs. What's your take on this overall George.

[00:12:15] It really struck me because I saw it once saw twice or three times where in the news, there was a story of a founder or a team doing something that pissed off the community because it violated. The sense of justice, right? Humans are a justice oriented social creature, and we can see this, find this and track this quite easily on the blockchain, which just means if you screw over somebody in the community, if you screw over a past project, screw a past, partner, if you do something that just violates our social sense of right and wrong, there is this. Immutable inevitable human reactions, social reaction, community response of punishment. It's like in our hard wiring. And I just was in all watching that certainly w how angry I was with larva labs. I don't know no punk. I don't, I used to own a need it, but, obviously I sold way too early on that.

[00:13:13] And I was pissed. I was pissed that day over at larva labs sold an O G thing just as a money grab. And, we covered that in the past episode, in it started to you realize potentially undo the brand value and drop the potential equity of people that are holding it. Despite the fact that they were literally the, the original enters the creators of Ponce, like all you had to do is sit there and not, don't be eating.

[00:13:40] And somehow I think that really, we have some other stories in here, but yes, the answer to the theme is yes. Does the creator reputation dictate value? Absolutely. that's where my head's at on this. 

[00:13:51] I agree. And I think we've talked about. In different ways in the past, we've talked some about how your NFTs and really your enough key, because it can be changed by the creators or the project developers at any point. And that is true for a lot of NFTs and there is something to you've gotta be able to trust that team.

[00:14:08] That's leading the project. And if. I trust them to lead the project, those things, aren't going to be worth that much anyway, and so we've seen, I think in relation to that, even we've seen larva labs put their punks on chain and that didn't do much for the price. I don't think that is as important as a lot of people make it out to be it's important, but it's not the be all end all.

[00:14:31] I don't think that. I think it would be at a bigger risk if all of the punk images somehow are gone even from IPFS. And are we even everywhere that they are backed up? I think there's probably a bigger issue than whether it's on chain or not. Punks are certainly one of the ones that you would think would have the most security in terms of there being image or records of these images.

[00:14:53] So I think we're always at risk of. Of what the project creator, the really dictating the value of the project.

[00:15:01] Yeah. And then the other thing you saw the UGA labs team doing immediately. Was giving, I guess it's the licensing rights, the creative rights to the owners of punks for the images, the NFTs that they hold, they had just immediately did it overnight, as soon as they grabbed it, which again is another big signal to the community that like, this is the right way to play. 

[00:15:22] Yeah, it seems like that is holding a lot of value, right? I think you can be, it can be debated how much value that has when there are, 10,000 copies of that, but people want it. And the thing is the creators still have rights to plenty of images assuming they hold pieces from this. So I think that's a really smart move.

[00:15:39] It seemed to be something. Drawing a lot of controversy, some from some of the big punk holders that, notably sold because of the IP issues and, there's really no reason. Those were some of the biggest supporters, the people that were on social media, talking the most about punks that sometimes, and they certainly helped increase the exposure and the value of punks.

[00:15:59] So to not just give them what they were saying is this, the standard in. What should be the standard and NFTs. And they were looking at larva labs to, to lead the NFT community into this space and, or, in this space and say, no, this is the right way. You should give people the creative license to do what they want with their image, because that's what the people want.

[00:16:18] And that. This is going to that's what the market's going to value as well. And Ecolab saw that and they did it right away and, then they came out with the the ape token and I'm sure that they've realized that having that. So I should say that. The anybody that's holding a punk or me that did not get any of the AP token.

[00:16:35] Those were for just board apes and the derivatives there. But I still think it was a great move to just show that they are still giving value to their community. I don't think that it could be expected that these holders, that they have, the ID that they just acquired in the same week, we would get that airdrop.

[00:16:50] But regardless, like I said, it's something that shows how much value they give back to their community. And it wasn't asking them to go buy another. For two and a half eith or, after they gave or giving half of it away, just a very different model, a very different way to, to handle the community from the two creators here.

[00:17:06] Yeah, Carefully. I did look at the eight token and I was looking, scouring around for affordable projects. Just be careful if you have the FOMO and feel like, oh, here's the chance I can buy this token. Just historically consider what has happened when tokens have been dropped in mass to a bunch of people for free and whether or not they're all in on holding it indefinitely versus taking some.

[00:17:30] Inevitably I can't find a counterexample to what I'm going to say, tokens that are dropped in this way. Initially see a price drop because of the profit taking. So be careful with running, running directly in this direction and just throwing money at this, trying to follow into it.

[00:17:47] So I will say that there though it is, I'm super excited. Also on the sort of punk train here, punk comics fell off an absolute cliff December. They literally go. And I looked back, trading average floors of over five E on punk comics to. Currently, well under, like it's like 0.1, right?

[00:18:11] They fall off a cliff because of the reputational reveal and sort of identity of beanie coming out that in fact the individual behind. Punk comics was called out by NFT ethics among others to actually have been part of certain pump and dumps and other things where he was taking advantage of investors.

[00:18:34] And it just it torched it, it torched the project overnight, simply because of his role as founder.

[00:18:40] Yeah, that's a good example there. That was when he was always somewhat of a, it's always been somewhat of a controversial figure on social media. Had certainly. Ben in his share of Twitter arguments and people were, I dunno, maybe looking for something on him anyway, and, turns out that he had a lot more dirt on him and yet you're right.

[00:18:57] That completely destroyed the value of that. Pretty quickly too. And we've seen this in other projects, we S some lesser known projects. Also see, we discussed one with some. The magic internet money and some related projects there at one point with Sifu, with a developer who had been part of a previous crypto scam that saw a hundred and some odd million dollars disappear.

[00:19:20] And then it was turned out that he was connected to this. I also recall there was one out from the magic marketplace where a developer there was linked to some other scammy and Ft project. Ben had death and proven to take quite a bit of money from there. And the token dropped initially I think 20, 30%.

[00:19:39] It did recover. They eventually had another hack that caused other issues there, but that's of course that's another topic that we have. Talked about in a funny times in the past. But yeah, we see this again and again, where there aren't, especially when so much of the project depends on one or two people being part of it that, if they, if there's something wrong or if they leave the project even, it really can hurt the value of the NFT that the token, whatever it may be really quickly.

[00:20:02] Yeah, I think there's a unique, there's a unique difference between leaving a project versus the reputation ruined aspect, which is just immediately reflected in price. But also, I don't think I've always fully maybe mapped to the risk of NFTs that you're really betting on this creator in a. Memorials social way that I think just adds a bit of risk to an already risky ASCA asset. 

[00:20:30] Absolutely. We've talked a bit, not on the podcast. I don't believe we talked a bit about how artists are, especially at risk when you're holding their pieces, because that is literally one person in most cases. And we've got one person, They think person and, doing things, that, anybody's doing they're, they are capable of ruining a reputation, which could destroy the value.

[00:20:51] You don't know what's going to happen regardless of whether the person is doxed or not. You've really don't eat no at any point what their future may hold and what the value of their pieces may do as a result.

[00:21:02] Yeah.

[00:21:03] the art defines the artists and that interpretation, it's. In a more intimate way. It feels like then maybe in the past where, like artists have been known to be a-holes, but they're like, oh, I respect the work. And you can identify the work separate of the artist and the artists and 10 you're like okay.

[00:21:19] Nothing comes to mind. I don't like throwing stones that way, but it's certainly true. But it is maybe a different way because we're such a community. Oriented and the way the value is ascribed and able to be done so quickly that it's just a higher expectation and maybe a new threshold to take a look at.

[00:21:37] When you say like, all right, here is the team capital T behind this, do they know what they're doing? Are they good at what they're doing? Are they trustworthy? Would they make the right moral decision? Especially look, people get a little baddy sometimes when they get a bunch of money in their pocket. Okay. How are you going to respond? If this suddenly starts to like, take off, are you going to realize oh, we have $70 million and we drummed, we dropped a bunch of shit on people. Pixel Mon what are we going to do to fix this? Or should we just take this money? Cause that's a lot of freaking. 

[00:22:09] Yeah, that's a good point. That's a tough one to come back from as well. That picks them on case when the reputation is destroyed like that, it takes a lot to try to come back and they certainly I don't know, maybe they're trying, but it doesn't seem like they're trying hard if they haven't completely rubbed everybody at this 

[00:22:26] haven't seen anything in the news. I haven't seen any updates. And it's a lifetime to repair and a data room. That's the brutal thing about reputation. 

[00:22:33] Yeah. That's a great.

[00:22:34] All right. I think we covered this one. Interesting topic. Thanks for bringing us news, Andrew and good luck playing with your nude. 

[00:22:41] Oh, 

 

 

 

 

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ETH Gas is low - what should I do? | Project: ZEDRUN & ENS idea

Wednesday Mar 16, 2022

Wednesday Mar 16, 2022

 

Transcript

[00:00:00] Today on all about affordable NFTs

[00:00:03] gas is low. What should I do? And of course we're not talking about gas on the the international stage or at the pump, which is experiencing rocket highs, but Ethereum layer gas.

[00:00:16] Is it now possible that you could get a transaction through for less than a gallon? I think it may

[00:00:22] tell you I'm paying five I five bucks per gallon over here. I'd love the over-under. We should start tracking gas to gas, lowest transaction for

[00:00:30] Yeah,

[00:00:31] of gallon,

[00:00:32] could get really could get really interesting there, it's not what I thought when I first got into this and, saw the guests here as being so much more, but we're seeing it go the other way.

[00:00:40] Yeah what are we seeing in the markets?

[00:00:42] Yeah. Mark gets a little slow. Still. It's quiet out there. That's why we're talking a little bit about gas low. What should we doing? But as mentioned, we're still seeing a lot of development, a lot of investment. So notice that Warner brothers is launching a new project. They've got a DC comics themed NFT training card coming out.

[00:01:02] So these will be. A physical and digital traded card. I think that's interesting that trying to do both we've seen it sounds a little bit like a top shot take on comic cards here, though. The physical aspect, add something new there. And somewhat similarly we've got time. If they are time is still related to Warner brothers or not the time they've been big in an F keys, they are launching a children's series based on the Little's NFT project.

[00:01:31] I heard a couple other projects talking about doing television shows. Many of the projects are definitely not children themed. I would say that a good number of projects seem. Really be stuck on using cigarettes for some reason. And the littles has stayed away from that and is actually children friendly.

[00:01:49] It'll certainly get some get some publicity when it's got time behind it.

[00:01:53] Yeah. It sounds interesting, especially from the media side, when it get.

[00:01:56] And Last year I've got that Stripe is getting into a crypto Stripe, the payments giant they've been huge in e-commerce and web too, especially it seems like nearly every company has some sort of integration with Stripe at this point. And they are getting into crypto. So I imagined that their network will also be able to benefit from This and accept crypto payments within some relatively soon timeframe.

[00:02:26] I don't know what that is but I think that is big. They're partnering with FDX to begin with. FTX has been very active in partnerships in sports market and marketing through sports and trying to onboard people. And this is just another way that they will try to do it by adding a new on-ramp to get crypto via Fiat currency with Stripe.

[00:02:48] This is exactly what we were talking about in the other episode about the on-ramp the on-ramp too. I have a credit card. Can I just get into this freaking NFTE game without getting, sent all around to find the way to move my money, to get to the currency, to ship it over to the right lane.

[00:03:03] You got to get rid of that. If you want any reasonable adoption, you especially see this in games. People want to play the game, want to experience it as quickly as possible. What is the time to first dopamine hit? And I get excited when I see this type of boring back office slash deep tech integration has, this is the kind of thing that could actually give you that little.

[00:03:27] That lives right onsite and says, boom, there you golf. Don't have a wallet. We're going to provision one, spin it up for you to show you right here. Would you like a custodial? Non-custodial I don't know what they're doing here, but that's where we need to get, because we are in the league early days of if we were to put the metaphor to, two thousands where everyone had to figure out their own credit card, payment processing so that they could take credit cards through the web.

[00:03:52] And they're like, all right, how do I figure this out? All right. I got our broker. All the major credit card providers. I got to do my own fraud production. I have to get that stuff just needs to happen. And once it did what happened, e-commerce blows up. It becomes normalized. We're like, oh yeah, obviously buy stuff online.

[00:04:07] Yeah, absolutely. This is big. I think I remember the days of when You had to go get your authorized.net

[00:04:13] built here, you had a company. You didn't, you

[00:04:15] yeah, built up before that and then Stripe came along and made payments so much easier and it's amazing on the merchant side. And if it's now going to become easy to take crypto payments that's a game changer for companies right now. From what I, and from my experience, the easiest way to accept crypto payments is using something like Shopify or a WordPress or a plugin, but they all integrate with Coinbase wallet. That's not necessarily a don't know, crypto native payment. It. is a good wallet. Not getting, not taking anything away from the Coinbase wallet.

[00:04:49] I don't use it all the time, but it's not. It's not a technology that is, these technologies are designed to work with any wallet at this point. And that's going to change when Stripe comes in here and makes it easy for anyone to accept a crypto payment from presumably any wallet and including Mehta mask the market leader by far, at this.

[00:05:08] point.

[00:05:08] Yeah, I those are those, like those small things like that lead to big shifts. So I was excited and said, all

[00:05:15] all right.

[00:05:15] Let's get onto our we don't have an affordable project this week. It's been, as we mentioned a little hard today, I'm sorry, it's been a little quiet. We are going to look at a one we've mentioned many times in the past. What do you have? Where's your looking at Zed

[00:05:29] I was able to convince that we looked for some affordable. We're trying to be a bit judicious in what we're throwing darts at especially right now. Here we go, Zed run. I've talked about it before in the past, I, had recommended. Going after legendary and in terms legendaries females to get you the best possibility to breed potentially this time I think I would recommend from where I see the market at, to look at going after a the breed type of Genesis.

[00:05:57] So that's the original legendaries one step down Genesis. And then just look at the floor right now. The Genesis floor is currently sitting at points 1 6, 7, and that will land you a bloodline, which is Buterin or booter. And depending on pronunciation you choose, and those are, the lowest tier horses in the game.

[00:06:17] However, as in terms of why now there's a couple of things. One that there is a token drop imminently coming and there. Algorithm will be favoring the bloodline as well as Brie type as Genesis. So like original holder they still haven't officially dropped all of the Genesis that will be out there.

[00:06:36] And Zed has been picking up in momentum in terms of total number of users in gameplay going on. And they figured out daily rewards. There's they're getting a lot of things. Right these days. So even if you don't intend to race, frankly picking up something in the genocide might be an interesting play in this period of time.

[00:06:53] I will say if you buy the cheapest Genesis horse, it will not be a good resource. Let's just be clear. It might be a good breeder, but that thing won't run. If you actually want to get into it and under. Instead of going to open C you should go to Haku and then start to play with win rates and flame rates and get into the, like the miles and miles of data that there are inside of this game.

[00:07:15] If you were listening to this and are considering buying a Zed run, boom. Go into our discord and ask mostly stable for his advice. He will tell you whether that is a good buyer, not this George dosas horse as well. And we are we're happy to answer questions in the discord, but really, if you do have any questions, he knows a lot about this, that run in.

[00:07:39] It can be confusing if you are not well-versed there. But the token drop is interesting. I think they've probably been waiting to make sure they get this right, as opposed to some of these other somewhat fly by night projects that just promise that they will do a token, does that run if it wants to stick around, they've been around for a long time and they want to get this right.

[00:07:57] I think that's exciting that they will have that coming in and it really provides a lot of opportunity to. To kind of ship the gameplay, as we know they are apt to do, but it provides different token omics aspects that they could make it very interesting.

[00:08:09] Yeah. One other element is the game is still evolving. They're going to roll out different types of track services, which will change how a horse performs, which is interesting. Now we don't fully understand what that is, but it could mean that a bad horse becomes a, not so bad horse on a certain type of track, as well as weather.

[00:08:27] So question. And also it's gambling and also full disclosure. I don't know a lot of these silly things and their online courses. Just one more time, if you go there, make sure you're using re type filter Genesis don't buy. I will say that. Buy whatever you want, but the current overalls that run floor place is 0.005.

[00:08:47] So if you go there and you were confused, that is because those are bred horses. Those are Pacers. Those are. Lowest of the low, like Zed, 200 and some odds I'm talking about and that other floor at 0.1617. Because I think that would actually hold value rather than something else, which is just what we call in the game.

[00:09:02] All right onto our theme. Gas is low. What should I do? We were joking about this inflection point of could a gas transaction on Ethereum drop below the price of gas, and I've started to see, I get so excited when I started to see cast numbers in the teens. I w I just ran around being like there's that like semi Dorman project and God.

[00:09:23] My AI guitars, I was like that done like gases low. There are some other projects that I still think have staying power and their prices haven't moved up. And so I think there's an opportunity to buy on old buy on old projects that you still think have life. What other things are you doing when you see guests low?

[00:09:40] So I think one of these I've been, I should be doing right now and intend to do is try to move some of the pieces that I really intend to hold on to for a longer period of time to cold storage. We've talked a bit about that. But putting it in even a more secure wallet, I'm not necessarily. Concerned at this point, but I'd rather move some pieces around, not have it all in one wallet, as we've mentioned that someone gets access to that.

[00:10:04] They have access to everything in that wallet. So maybe trying to partition that a bit and not have it all sitting in one place would be a good thing to do if you do have a lot in one

[00:10:14] Our security episode. Scared you didn't.

[00:10:16] Yeah. Yeah. It won't tell me thinking, it's better to be better, to be scared ahead of time. And here hear horror stories from other people than to have it happen yourself. At least

[00:10:23] And you're on those lists. I'll be honest, like I'm not really on that. When you hold certain collections, you're on that sort of oh, that wouldn't be a bad wall to hit. Like you got an X copy in there too.

[00:10:32] Tray, it's, that's a bed to, to move some of that around. It's thought about that. And, even just having it different places, Hey, I can make a mistake on my own. Doesn't even take somebody else necessarily. Being malicious. I, I. I've made plenty of mistakes online and I don't want to do it with a wall.

[00:10:49] I try to be as careful as I can. I think that's when you can look at I think another one that I've done is updated my ENS profile. When you update things on that, I've got, I own random dot E and then I wanted to update the profile or I'm sorry, the the Twitter. Account and the website that were on it.

[00:11:07] I hadn't done that initially. So I wanted to put the website right on the profile, so that actually caused a gas to do it. So didn't really want to do that when it was going to cost me, over a hundred bucks to do, but find did that recently. See it's also a good time to maybe buy an ENS named is, are relatively cheap.

[00:11:25] Or I guess you've actually paid annual fee, but the

[00:11:28] the fee? Do you know fees on that?

[00:11:30] It's not a lot for a name. Let me check what that is right now. It's based

[00:11:34] those unfamiliar, as ENS is going to be able to map over that hash so that you can essentially just have your much reader-friendly name to it. And groups like, Budweiser getting their, beer Dotty's and every major company is going to be buying their beer daddies.

[00:11:50] And also let's just be honest. You could go become a bit of a domainer and that, and try to park people that you think may be coming off. And that's not a terrible idea,

[00:11:59] at all. So right now it's actually only about $5 0.00. To Eve per year for a domain over. And I believe it's over. It's five letters or more in a shorter domain is where? Sorry, not the main, a charter name is a little bit more. So with gas right now, it's telling me that it's about $33, total $5 for the the annual fee.

[00:12:23] So you may as well do a couple of years if you're going to do it because most of the fees still gas, but like I said, it's a whole lot better than paying a hundred bucks for gas on and only $5 for the the name itself. Pretty good right now, Maven look at picking up a couple other names.

[00:12:40] I still, I like these, I think it's really helpful. To me, we've talked about how the hashes are somewhat it makes people think that it's maybe anonymous and it looks cryptic. This is a way to make, to, make it easy to read the domain or sorry to read the name. I keep saying domain, in many ways, this is very similar to a domain name.

[00:12:56] Really? The domain name is just. Interpreted into an IP address. Anyway, so this is really the same thing. It's actually surprising that it's not more of the the primary way that people are transacting. It is really hard to read if you've got the wrong, if you've copied. The wrong address and you're sending something to someone especially if you are, if you're copying address a lot, I'm working with contracts and addresses all day and, often we'll copy one and, don't, they, I can't tell the.

[00:13:26] Between one and another, just by looking at it.

[00:13:28] because it's 42 characters that all look pretty similar, they all start zero acts, and then there's a lot more characters, but with a name you can actually type random dot eith is what I have, there's, you can see what it says that you've typed it the right way.

[00:13:42] That being said, I still want to double check everything and make sure you get it right. But I can read that. That know, as opposed to trying to memorize a 42 digit code, not going to happen.

[00:13:53] Yeah, no. And especially if you're talking about a company or a brand and those pieces, like that makes sense. But I may actually run around and look for the sneaky domain parking strategy. That could be the affordable, Hey, you know what? You stayed this long into the episode. Here's your other affordable projects go find a brand or someone who you think should probably have an essential.

[00:14:13] C check if it's available. And when gas is low roll in and say oh, Hey, and then go ping them. See if they want to buy it

[00:14:20] Not a bad idea. Yeah.

[00:14:22] for principally, for princely eat some.

[00:14:24] That's right.

[00:14:25] I have on my list staking projects, so sticking in a T projects. So we, in the past, I did a quick scan and I found a wizard treasure collective that we talked about and crypto bots, both of those have. A staking mechanism where you submit your entity to earn the native crypto also. Oh, crypto the crypto unicorns.

[00:14:48] They also have a staking element, but not really because you can't afford to stay some of them. Because of it's the unicorns that are so expensive. So whether treasury collection, credit bots, basically like the pay to transfer to that staking wallet that took gas and it like, kills me how much it costs at the time when I did it.

[00:15:06] But I was like, I don't know, it's what you gotta do. You gotta stick it now. I'm thinking now oh, if I still believe in those projects or whichever I could, buy another and quickly for much less, get a get my additional entity into that into that sticky.

[00:15:18] Yeah, that's a good idea. You really don't want to be doing that stuff. When the guests costs you a lot Yeah. I to think about the things that I do have steak places where maybe I either want to move it out. I've got one where I actually want to move another one in and was hesitant to do it.

[00:15:30] Need to be better at making lists of the things that I always say I'm going to do when the gas is low. But I think this is a good reminder. Just wrote that down for myself here.

[00:15:39] This is just oh God, I gotta get off this pocket. I've got to do this stuff.

[00:15:41] Yeah, it is great to see when gas is so well. Like you said, I've been seeing the teams lately. It feels like you should be doing something when it's that low. It's just otherwise wasting the opportunity.

[00:15:51] You could pull out your looks or SOS tokens or tokens that United States somewhere that you're like, ah, I don't have a ton staked here or my reward. Super high at this point. And maybe my faith has waned. I'm not saying that one way or the other here. But it, is pretty annoying when your claim reward is less than the amount of gas you'd have to pay.

[00:16:11] And I would say another one is to actually send. Send money over our sin tokens over to layer twos to gas lists layers. Right now you can get it there for cheap and then be able to transact with it on those layer twos, whether it's going into polygon and looking for projects there, or even just staking your eith or whatever you may do, you can do so many more things on layer twos, polygons in one.

[00:16:36] I spent the most time on, but there are others optimism as EK sync is talked to when there's a lot of funding going on there. So not a bad idea to maybe even just rotate some money around occasionally or they'll get around in these different these different networks where there may be tokens coming at some point where we've talked that there may be airdrops from some of these that don't yet have a token.

[00:16:57] Mentioned arbitrary, I think in the past,

[00:16:59] Arbitrary optimism is another's EK sink that the, all these are all layer twos on Ethereum. So they are getting some of that Ethereum security, but also they will have essentially gas lists, cheap fees. We will see which how they all develop. I think they'll all end up with different specialties and use for different different use cases for each of, them.

[00:17:21] But not a bad idea to just try them out. You can get it over there, cheap and then move things around for next to nothing on those networks. Anyway. So once gas does go back up, you're not stuck in stuck having to pay these fees to get it back out.

[00:17:33] Andrew. I'm going to be honest with you. I had low expectations for this particular episode. I am very excited to get off and start to do some of these things. Cause I'm like, oh God these are things I need to do right now. So hopefully it has been useful to you. If you have a minute, a second, a thought, please drop a.

[00:17:51] Or subscribe on whatever platform you are currently listening to us through. And of course, during some discord, we're trying to have some fun there. And as you can tell, just to share some share some alpha. Wow. What kind of affordable projects are you looking for?

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