All About Affordable NFTs

NFT Draft Season - Platforms Compete for Projects

Theme: NFT Draft Season - Platforms compete for Projects

• Tis the season to be poachings, Polygon won this without having the highest bid
  • Polygon Paid y00ts NFT Collection $3 Million to Leave Solana - Decrypt 
• Did initial headlines/narratives mislead people to thinking Polygon was chosen organically?
  • https://magiceden.io/marketplace/y00ts?activeTab=stats
• Reasons to leave Solana?
• Who else might be targeted?
• What happens to these assets - are they bridged?

 

• Warning this is a scam: https://opensea.io/collection/the-rugradio-origin-reveal-pass 

• NFT News

• • China state-backed NFT trading platform to launch on Jan. 1 
  • Fanatic sells 60% stake in Candy Digital amid ‘imploding NFT market’ 
  • The Block: Early Facebook investor and Proof CEO Kevin Rose signs with Hollywood's UTA: Exclusive 
  • Logan Paul's CryptoZoo NFT Game Accused Of Being A Scam: What Happened? 
  • Manchester United accused of copying work of NFT artist DesLucrece 

ApeFest Severs Ties with NFT NYC

 

 

 

Rough summary

[00:00:00] audio1487909992: Today on all about affordable NFTs, we're talking about the NFT draft season when platforms compete for projects, so we'll get to that in a little bit, talking. Talking about how Polygon made some moves in, uh, the 2023 draft season, which I didn't know was a thing. Anyway, Andrew, how's it going? How's the break?

[00:01:05] What's new in your wallet? Happy, happy New Year, George. Good to Happy New Year. Good to talk NFTs again. I feel like, man, it's, it's been been a little bit longer than usual since we talked, and man, I am, I'm lost in the nft. It's taking, it's, it's taken me, you know, I've been up all night trying to just study to what's been going on to get ready for this podcast.

[00:01:24] Well, I have to hand it to you. You officially accomplished something that we thought was just out of the realm of what we would do, which is an outsider interview. You brought in a couple experts, so if you've been listening, go. Past two episodes. Past two episodes, we had some great guests on. Uh, and really from that data perspective, uh, I liked how they were looking at the actual data profiles of, you know, hos versus flippers and how you could actually like see some of those things from, uh, from their different dune dashboards.

[00:01:58] So thanks for doing. Yeah. Finally got the, those, those first interviews on. You know, if you have been listening, you may have noticed that, uh, that we talked intro wasn't quite accurate until now. Now we can say that we've had guests on, so we're good. Yeah. To, to a year. Let's not, let's not raise it. Uh, all right.

[00:02:18] So what's going on? What's, what you've been active in, in your N F T trading? Any, anything going on in your wallet? What's up, George? Well, I'll say I did some end of year aggressive, so the biggest thing in my wallet really was end of year aggressive harvesting. Just like good, taking a hard look at the things that frankly just didn't perform.

[00:02:36] I pruned them and. It looks like I accidentally pruned a little too hard. I left one, uh, floating out there. Rug radio, which we'll we'll talk about today. There, there's a rug radio re reveal pass, so, uh, looks like I accidentally sold that for 0.1 below the floor. So, uh, it's been exactly 10 days before making a mistake in N F T trading this year.

[00:03:00] I think that's a new record for me. 10 days is, yeah. Yeah. I mean, pretty good. It hasn't doubled yet. I Exactly. I can't listen into this. Hey, if it was one of you, if it was one of you who bought it, you know, because you know how things go when George sells. It must be going up. Um, oh God, please, please again, if you want hot tips.

[00:03:19] Uh, it's like the, uh, I'm like the, the, the Jim Kramer of this stuff where it's like, if I'm doing the thing, just go the opposite direction and you're in a good. The reverse portfolio , the reverse reverse portfolio. Um, yeah, so there's your, there's your hot tip for 2023. So far, uh, anything you said you were pretty quiet.

[00:03:39] This is, this might be the longest stretch of inactivity for you. I saw you were, you were throwing some bids around on picking up market psychology a while back. I actually just threw a bit out there. I like where that project is right now as a. Uh, by Colby, anything you're Ben Flo still floating? I had been putting some bids out there.

[00:03:57] I haven't done that in a bit. Uh, last, let's see, I was looking, I checked my activity to, to confirm what I had been doing. So I was pretty, pretty inactive over the holidays and um, I had picked up some tabs, uh, the N F T from Alien Queen, um, I think, yeah, that had actually, I believe that got up. Point four or something at one point.

[00:04:18] I think it's down at 0.2. I had a free mint opportunity, so it wasn't a real big, real big decision for me to vent that one. Um, but that, that is from the artist Alien Queen. So that's one that is in my wallet. That was the last thing that I had picked up. Um, but yeah, otherwise been, been relatively quiet. I did, I noticed, um, you know, beginning some offers again on my, uh, friendship bracelets.

[00:04:39] Uh, still have a couple of those. Um, those were the, uh, the projects we've talked about from our blocks. Along with from Snow Row and Alexis Andre, I believe is more the artist behind it, but they find, I think today as we are talking, is the final day to mint those. So what I've heard is that they, I think they're up over 36,000 total friendship bracelets.

[00:05:02] Uh, if you remember, there were. for every piece, every wallet that held a, an art block piece as, as of the, the, uh, snapshot date, which was taken, I believe in early November, um, could admit two of these. So there are now over 18,000 wallets that have minted these, um, you know, saw a surge in the last few days as people realized that the, the deadline was approaching, I think that floor price did come down.

[00:05:27] Although I'm still seeing a lot of activity in those, I'm. Hey, I'm surprised by how well those have held held up. It's shocked. A big, yeah, that's a big mint, uh, number and you know, there is. At least they're gonna stop being minted now. So, um, you know, I think there are, uh, you know, there's good case for, to be made.

[00:05:47] They will, uh, become more collected at this point now that, uh, you know, that they're, you know, more of the, the final rarities. Um, I, I think there are some that are the snow fro, uh, pallet that are up over four, eighth or so. So if you do have any of those, you may, you know, take a look before before you do.

[00:06:07] Because some of those pallets are quite rare. Um, but, you know, interesting collection. Nice to see that it is finally done. Um, because I think it's, it's nice to know the final number. Um, well maybe not quite yet, but close to it. . Yeah. Yeah. And I imagine there might be some, some price, uh, volatility on that.

[00:06:24] So waiting carefully, especially with 33,000, uh, of them. I don't know if any future promised access or utility on those right. Feeling that could be over 40 by the time this is done. Yeah, those deadlines tend to push people. No, there's nothing there. I mean, there's the utility, I guess, is you get instructions of how to make a real, I mean, a real friendship bracelet.

[00:06:48] But I don't know that you need an N F T for that. You know, I, I think you need a kindergarten class and some yarn. . Oh boy. Oh boy. Oh boy. Oh boy. Sorry. Second grade. Second grade. Uh, alright. What do we, oh, go ahead. Well, before you go to the news, I, I'm kind of interested cuz it seems like there's, um, as we kick off the year when I like look at macro data on like Crypto Slam and others, that overall sales volume in sales dollars is up, but transactions down, buyers down and it seems to be like just whales moving around right now.

[00:07:28] So it's kind of like a, a tale of tale of two, uh, two numbers here, you know, in terms of participation, not as much, and a real thinning of the herd so far. Hard to say, you know, 10 days in, uh, we were joking before this pod got started that, uh, we're gonna hold off on our predictions until the, uh, the end of 2023, which will then back date.

[00:07:47] No, I'm kidding. We're, we might do some predictions in February when we know, um, a, a bit more just to cheat because we did so well last. Yeah. Right. If you listen to that one, you'll realize that how far off we were. So, um, you know, don't come to us for, uh, for predictions on the future. For sure. Yeah. We'll just wait, we'll wait it out.

[00:08:09] Uh, but I'm kind of curious, like, so moving into this year, what, what is your, your wall planned? Kind of like stick and hold on this thing. Like, you're not doing too many transactions right now. I can see, I. Probably just sort of paying attention to your existing access wallets, drops, things like that. . Yeah.

[00:08:29] That's, that's been, I mean, yes, I should be paying attention more to those things. , I've been, you know, I have too bad the last couple weeks. You know, it as, as, I mean, as you know, you're, when it takes a lot to stay on top of all of these different projects and man, it is nice to kind of, uh, forget about it for a bit.

[00:08:48] And yeah, I think, you know, I. . I mean, I think I've, I've shifted some of my, uh, I don't know, sort of my collector mindset a bit and, and trying to think of things that I, trying to really collect things that I, I'm more okay holding for a long term and not being , not really jumping at a lot of new projects.

[00:09:07] I mean, that, that's, I feel like how I've. Have shifted anyway before this. Um, you know, I think I'll continue that this next year. Um, you know, we've, it's, yeah, don't wanna, I'm not gonna say what's gonna happen, but I, you know, I, I do see that we, we've seen that, we've seen some, some of the. Stronger use cases of NFTs that some of the things that have stuck around art has definitely persisted as one of the stronger use cases.

[00:09:32] Digital art has found a, you know, a real home in NFTs. Um, you know, I think that's probably going to persist. You know, we, I, I, I don't know that, that something like gaming is coming this year. I think that we, you know, as you know, we, I dunno, I see that we still have a lot of people around and at the same time, you know, there's not the same excitement, there's not the same, um, you know, let's go try everything, uh, kind of mentality.

[00:09:55] From the crypto or N f T market as a, as a whole. So I kind of think that that's, that those, those sort of far off things that gaming and stuff may not, uh, may not really see much light this year. No. Again, if you can somehow survive and, and make it back to the, the next bull bull cycle, I think, uh, it'll come with the, again, general crypto markets.

[00:10:20] I think, you know, in some ways NFTs are lever, but you. It's, um, it's winter, it's wintertime, so I, I agree with that. I'm kind of doing similar things looking. Artists that I know will continue to produce and actually like look in terms of a flight to value, we're starting to see it like the values coming back in Max Pain and Friends, which was previously the lowest value wax comedy, right?

[00:10:47] It is. You, we are almost dangerously back to break even on, on that mint price. Ferocious is, uh, just strong in terms of like his canvas and the paint pieces that are, are seemingly increasing. . Um, other things that, you know, we mentioned, uh, Pinder Van Armen in the past, um, in his pods. Like those are up. So we are seeing some life in some of these older quality pieces.

[00:11:14] So that's given me hope while on the other side of it, like my whole like obsession with like the Nike dunks was. Poorly timed. I'd say overall, like they just, you know, oh are floating around at like point 0.25. What's the common story, George? That's, you know, whatever num number down number, not zero, cuz they're not gonna give up on it, but people are not happy with that.

[00:11:36] So, you know, a mixed bag. But, um, I'm setting a, a sort of play budget and, and focusing, I think similarly. On that as I was talking, I had to pick up that floor market psychology. It was too far below the, uh, . I cleaned up that floor. I cleaned it up. Is that I couldn't turn it down. Is it 1 25? Oh man. I mean, it's below the original Mitch, and it's below original Mint was, there's breaking news.

[00:12:05] Uh, it is now a new. There you go. . There you go. Clean. Clean that up. Um, so you know, if we just go by those metrics, you're up. Yeah. Sure. That All righty. All right, let's roll into news. Let's roll into news. Yeah. What, what do we have in here? Get some headlines here. Oh, man. We've got, it has been a bit since we've talked, so we've got a, well, I don't know, we've got a lot on, we've got a lot of these here.

[00:12:32] I don't know how big a lot of these are. Um, so one that we've got is the China who, let's see, the country's previously. Band, NFT and, and crypto, uh, NFTs and crypto. And now they are, or they have launched a an N F T trading platform. I haven't actually heard much about it. This is one that I had kind of bookmarked, uh, you know, back before the new year launched on January 1st.

[00:12:56] I haven't heard much about what's going on there. , um, a little hard for me to understand how they're gonna have a lot of activity on this N F T marketplace while they've been cracking down on it heavily within the country. So, can't imagine there's a lot of users ready to, to go for it, but that's, it's quite the turnaround.

[00:13:11] And, uh, I don't know. I mean, I guess maybe they see what, uh, You know what the potential is. Um, , I don't know. What do you think here? Uh, I think this summarizes it pretty safely for me. The marketplace is built on WBA chain. Uh, it is a heritage protection chain that is owned and operated by art exhibition China.

[00:13:32] So I wouldn't call it crypto or blockchain so much as. It's something that is masquerading at it. I get the sense that, uh, transactions can be probably reverted and aren't quite as That's, that's true. Yeah. It's probably not all sales are not necessarily final type of way to, to maybe put an app out there in the world that you, you know, get maybe a lot of usage and learn a lot about people

[00:13:57] Um, if, if it does pick up any kind of traction Yeah. Look, um, , it's interesting to see if they can take the, the firewall approach to blockchain tech and, and what happens. Uh, a lot of people in China, so we'll see. All right. Now we've got fanatic. This is the, let's see, this is a, a , let's see, a fan goods company that they do own, they own a 60% or, or steak in candy Digital.

[00:14:27] That's been big with the, uh, M L B. Some of the MLB attempts at NFTs. Um, as we've talked about, NLB has, major League Baseball, has tried a few different ones. They are selling their steak and candy Digital sounds like they, uh, maybe are just through with, uh, the, the NFT market. You know, as we've seen, they haven't been all that successful and I, um, uh, frankly, I'm a little surprised that they were able to find a buyer right now.

[00:14:54] So, you know, maybe not such a bad idea. I don't know. They said fanatics was founded in 2011, become a well-known name in sports and e-commerce valued at 31 billion, which is sizable, but I don't see the, the price that they. Yeah. I mean, it's hard to know what they, I mean, they're probably, for them it's a, probably a , um, good loss, uh, that they can write off against.

[00:15:17] Yeah, there you go. I was doing some of that, just a smaller scale at a pony level. Yeah, right. Um, but you know, it doesn't say a lot of what they, uh, What they think about the future here. And you know, like as you said, they haven't , major League baseball has not figured out NFTs to any extent, and I I don't think that's where it's gonna happen.

[00:15:37] Yeah. So they have a quote in your, we believe digital products will have more value in utility when connected to physical collectibles to create best experience for collectors. As a reminder, this is the group fanatics that acquired tops trading cards for, for half a bill. Uh, so you can see them still.

[00:15:54] Sadly fumbling through the, the Major League Baseball's entry into NFTs in a railway.

[00:16:00] All right. We've got another headline here from the, yeah, about proof. Uh, C e o Kevin Rose, the, the Man Behind the Moon Birds project as well. Um, they have signed a, a deal with Hollywood, U t A, uh, so I was a little surprised by. I was a little surprised by this one. It just, it, it seems like what some of these, uh, kind of caricature type of NFTs have done.

[00:16:27] Um, but you know, they are big and they are, they are able to get deals. So, you know, maybe shouldn't be surprised by, by the route they're taking here. Yeah. Moon birds have kind of come down floor price 8.5 as of, uh, recording this, like, there was like a little bit of bump, I think. with that announcement there.

[00:16:46] Um, it got almost back up to 10. It was down at seven. So, you know, you, you have these like news runs, but a re a regression back to the previous, which that's what we classically saw with like, hey, sell the news moments that we'd be like, you know, win, update, win, update, all the, always in discord. And, uh, the underlying value isn't there.

[00:17:06] Community isn't holding, like, I, I, it's like sort of, you know, bumps along the bottom. I mean, nothing. Shake a stick out. You're still at eight AbbVie. It's pretty good. Yeah. Yeah, exactly. But you know, it is, it's a long ways from where it was at 30 plus

[00:17:21] all we've got another. Another scam cuz you know, it's NFTs. Uh, this one's involving Logan Paul . Uh, I don't know. This is no shocker here that he's involved in a scam, at least not to me. But this one is, I don't know. This was a game called Crypto Zoo that they've sold millions of, millions of dollars worth of NFTs.

[00:17:41] The, there is no game to be played. Uh, this was, let's, uh, let's see. The scam was investigated by, let's say, KA. Cilla, uh, is the, the YouTuber's name. Um, Logan Paul then was threatening him with a lawsuit and then also inviting him on his podcast. Um, you know, it sounds like he's now blaming the developers that he hired, which, you know, for some reason he thinks isn't his responsibility.

[00:18:10] I'm not sure. But you know what wouldn't be another podcast, uh, another podcast episode without talking about Apod. NFT scam, right? Yeah, I think there's the sort of hype and promise of we're going to build the next great game, which is a lot easier to say than do, and I, I think it's, yeah, I think it's tough.

[00:18:30] I don't know enough details here, but the, you know, the, the details that I did were questionable. Yeah, I can look. Probably shouldn't just believe, I mean, we're way past what somebody would jump into it, something like that. But you know, maybe we shouldn't have just believed that he was gonna build the next or the killer N F T game.

[00:18:52] But, you know, we all thought that everything was gonna just work out as, as the founder said at the time. Right. ? Yeah. This is a pretty impressive fall.

[00:19:03] All right. We've got a, an NFT project from Manchester United, the soccer team in, uh, in England. Uh, they have been accused of, Of ripping off the artist. I, I don't actually know how to say the, the name. Des Des Lare, and it's d e s l u c r e c e. It'll be in our, uh, notes of course, but , it is, man, the, the resemblance is quite striking.

[00:19:31] They are super similar, pretty obvious that they were, uh, influenced here and. Not a great look for ferment. And United Believe has already had some, uh, some quite a bit of backlash to the idea that they were doing NFTs from their fans, uh, to begin with. Oh, that's, yeah, that's, that's brutal. I mean, it's this sort of black, red skull with white, and they're, yeah, they're pretty darn close.

[00:19:58] Uh, looks like they went with the Tezos, um, Tezos platform for Manchester United, which is interest. Yeah, so there's that all you have that . Uh, alright. And then, uh, let's see. Last text, last headline I've got here. I cut out quite a few of the , the not so interesting ones, but I thought this was somewhat interesting.

[00:20:19] N F T N Y C coming up this year in April. They, they seem to change that every year to really just throw people off. Um, ape Fest will not be holding their own event at the same time. Um, you know, in the past they have held it at the same, same week as the event, not as an official part of the event. So this headline here that I'm already reading is, you know, somewhat off base.

[00:20:41] They're severing ties. I'm not sure that there was an official tie, but I do think that we've, we're seeing a lot of people kind of maybe move beyond N F T N yc, which. I don't know, I think is somewhat struggling for what is the actual event and what are people coming there for versus are people coming versus just the outside events that that happen to be in New York.

[00:21:02] Yeah. It seems like they just weren't ready to do it early enough based on the, you know, tweets that I'm reading here, saying that like they wanted to do it later in the year and export new locations. That could, that could mean many different things, but you know, maybe this is not the time they want to start celebrating.

[00:21:19] Maybe they wanna wait a, I don't know, for a couple lawsuits to shake out or news pieces, , hey, that could be, you know, get solved. Right. Well that could be a real long time then. Later, later date. Yeah. I mean, we could get into all the lawsuit stuff. The, it's, it's hard to keep track of what's going on with you getting their lawsuits though,

[00:21:38] Yeah, I feel like that's an episode all its own, but also one. I, I'm just not that interested in ultimately, although it is a dominant four still, if you're looking at the top 10, you know, crypto projects right now, like the fact that three of them are essentially, uh, yuga is, you know, quite, quite impressive.

[00:22:00] Four. Yeah. Crypto punks. Yeah. Five. Geez, bored. Eight Yacht Club. Mutate Yacht Club are one and two. Uh, bored. Eight. Kennel club number five, crypto punks. Seven. Other deed nine, like wow. Okay. Other deed. I was gonna say, there's no way mee bits are on the top. 10 . Oh, poor mee bits. Ooh, no, you gotta, you gotta go down the ways.

[00:22:25] I haven't checked the floor price of me bits in a while. I'm kind of curious now. Here we go. Rabbit hole. I would guess 0.5. Oh, I'm gonna get higher than that. 3.85. Oh gosh. I was way off. How was I so wrong? 3.85. Oops. That's, that's impressive. Yeah. Huh. Good for them. . Yeah, right. Glad I sold mine at two and a half.

[00:22:54] Whatever. Add it to the list. It was when was more, and I'm sure you immediately got that us. That's true. I immediately pull, I did something very safe with it. I definitely didn't throw it away on dog coin. Dog coin ponies. I actually threw away. Yeah. There's offers on these, huh? Market Market is stronger than I would've guessed.

[00:23:19] All right. There you go. That's what I get for making fun of it. All right. The T draft season platforms compete for projects this. Interesting cuz at first I thought in my mind the narrative was around with regard to Utes, uh, leaving Solana and Degos I think as well, right? Ts and Degos leaving Solana for Polygon. I was like, you know, sort of dancing on the sort of Solana sex train, which it does.

[00:23:47] Um, to be clear. Uh, but I thought it was of their own position to move, but it was not what actually hap why did they do this? Got paid. Ah, 3 million. Okay. . So I see 3 million relocation fee, I guess right from, uh, leave Solana head to Polygon. And I think we're maybe seeing how Polygon, uh, polygons, business dev works and why they're so successful.

[00:24:15] Um, yeah. Right. So what does this mean? Incentives? ? Yeah. Use that foundation money. Like, oh, you get a grant . Okay, great. Uh, you know, with regard to what this means, I think it's interesting because if projects are suddenly, and labs are suddenly able to create a breakaway sensation, or some sort of momentum on, we'll call it a, a tier two or a less than chain.

[00:24:49] They may be able to run this play going forward saying like, Hey, uh, why not go to the highest bidder? And I don't think, according to some reports that Polygon was the highest bidder. I think Avalanche was also. Looking for their business with a bid and um, maybe another, but uh, the move to, I heard that's interesting.

[00:25:11] Um, yeah, but I think they weren't the only weapon Polygon, the only bidder, polygon does seem to have more. Um, maybe more legitimacy among, uh, among the crypto or N f T crowd? I would say, I mean, for, for N F T networks, I, I think Polygon is taken pretty seriously by most, um, most Ethereum N F T holders, uh, you know, since it is just that layer two and gets the cheap fees and yeah, with that money, it, uh, It's, it'd be hard to pass that up when you've got the, the issues that, that that plague Solana.

[00:25:48] Yeah. Look, if your platform's going down every month and your coin is being sort of shielded and manipulated by the second coming Bernie Madoff, like there's a lot of tough headlines there, right? Um, and it's maybe unfair, uh, some look, it's maybe unfair to say that a Solana simply. , a scam artist used that platform to sort of like burnish their reputation and sort of buy into it and try to manipulate the price that that's not their fault really.

[00:26:17] But the truth is that there isn't, there's some guilt by association assumed in some of these, uh, headline articles and titles. So I wouldn't be surprised if they were trying to sort of survive beyond that. You. D D labs based in Los Angeles. They've had just with Utes, I think a total volume of 2.7 million if I'm reading the analytics properly, which, you know, like, look, volume on platform, volume on platform actually will return value.

[00:26:45] So if people continue to, uh, trade these, maybe you can answer this question for me if, you know, like, is it like what is involved? Are they going to. Create some sort of burn transfer mechanism because you can't just yank this off of people's wallets and move it over. Can you, you can't just be like, ta-da, you're on polygon.

[00:27:08] Like you can't, I mean, that elegantly, right, right. I mean, they definitely can. You don't even know. It's not the same address when you're using, when you're going from Solana. It's a polygon. Now, if you're going from Polygon to era, from Ethereum to Polygon or, or optimism or any of these Ethereum based networks, you'd have the same address.

[00:27:28] But with this, it's a new, it's a new wallet address. There's no way to just simply airdrop it. It's got to be some sort of claim. Um, I imagine. You'll, you know, have to claim it and then bridge over to the new network. Um, that is interesting though, you imagine, um, that not everyone's going to do that, you know, , it's, uh, you know, people pay a lot of attention and there are also people, I'm not saying that, you know, that, um, you should necessarily.

[00:27:56] What do we say to buy and hold for something? You know, is it really expecting that people are paying attention all the time to, to these things? And you know, I'm sure there will be opportunities, but you know, it'll be interesting to see how many actually make it over. Um, there's been talk in the past about projects like, like crypto punks and, you know, obviously old project people really didn't know the value of these things, um, at the time and.

[00:28:17] you know, how many of those are, are, are, are missing completely. You know, in something like this you'll be able to see a little bit better. But even with these youth projects, I mean, it came out a while ago and there were a lot of people getting into Solana because. Somewhat because they felt like they missed out on Ethereum.

[00:28:30] So I think you'll have a lot of people that maybe didn't , um, keep track of their wallets very well, or, or wallet security. And, uh, I imagine that not all of those will, um, make their way over to Polygon if it does require actually actual action on the, the holder part, which I can't imagine it would work any other way.

[00:28:49] I have a weird question for you and I have no way to. If I were to create a Venn challenge accepted , if I were to create a Venn diagram of Solana wallet holders and Ethereum holders, right? Like people that had one and not the other, like, what do you think? Do you think like one has more of the other, or do you think that there are like Republicans and Democrats?

[00:29:16] It's like, well, I'll never vote across the aisle. I'm also. or do you think like if you're a DJ you just are popping around with different wallets in different places? I mean, to be honest, it's probably a pretty big crossover. I, I think we, we know that the ecosystem just isn't, it's almost just not big enough to, to support all of these different, unique.

[00:29:38] Ecosystems on their own. I mean, I think there's, there's probably a, a good amount of p fp Ethereum collectors that, that I think are more likely to be on Solana. I think our box collectors maybe are more likely to be on Tezos. Um, that would be my , that's what I would guess. I don't know how you'd, how you'd go about trying to.

[00:30:04] Trying to really get numbers on those since they are, you know, you can't really tie two separate wallets right to the other, you know? Yeah. Until bridging becomes a different thing, you could probably begin to do that. But yeah, it's, um, it's certainly a little messy, uh, But it'll be an interesting project.

[00:30:23] Look, I'm interested in, in that once it moves to the Ethereum network a lot more, uh, because frankly, the base currency, the, the base currency has always been one of our. Jesus is then denominated in, uh, we and Eateth, which is Yeah, which would be down less than so long. don't lose, here's the thing, you'll lose money at a slower rate, and that's what I'm here.

[00:30:48] That's, that's what this is about. That's losing money longer, less over longer periods of time. It's science. , this is a good time to disclose that this is not financial advice. None of this should be taken. It is interesting. So what do you think, um, uh, guess the Ute floor in eth, I just calculated it. What do you think the Ute floor in, uh, let's see.

[00:31:15] I. I don't know, the u I don't know Ute at all. I think. Well, with D gods I think is the more expensive collection. Is that, that sounds right to me. Correct. Um, I don't know. I guess I'll say two E. Wow. You were shockingly close. 1.7. Um, that's impressive. All right. Nice. That is, that is press impress cause we've brought it up.

[00:31:36] We'll go with the floor. Uh oh, gosh. Yeah. So I'll give you, I'll give you a chance at, and you can play at home right now. I'll guess that price. I always like to guess that price. All right. So I have, uh, the D gods, like, what do you think the eth price is on that floor? Okay. How about, um, about six. Wow. Well, no tricking you today.

[00:31:58] Uh, 6.69. I did not make that up. Oh, sulfur five 50. Oh, how could I not put that in there? I, if you had spiked it, I would've been, you would've . So I wanted to mention something. This, I don't, don't know what's going on with this, but this bons. Collection, have you heard of this? B O N K Z. I'm sure if you've been paying attention you, you may have heard about this one, but it is a collection on Solana that's getting all sorts of attention.

[00:32:22] Now. I see that they've got over one point. Is this crypto cryptos? Is that it? I possibly, let's see, um, no 1.6 million in sales. Oh man, they're flying right now. Um, but yeah, so there's, you know, there are still, this looks like it's a pretty reveal. Um, Collection right now. So, you know, there's still activity over there.

[00:32:47] That's a new salon collection that just launched. And, uh, you know, it's, you watch one leave and, you know, maybe it's in a way. Maybe it's making an opportunity for somebody else to step in. You know, I, I'm not a big salon fan. Mm-hmm. , and I don't think that it's, I don't think it's heading, you know, maybe it heads to zero eventually.

[00:33:05] I don't think that we're there at this point. I think there's still. Uh, there's, there's still people there that wanna make something of it, and I think you'll at least see some , some fight, uh, from those that are are working on the chain. The fundamental truth is that the, uh, The inflationary element of Solana is exceeding the rate of transaction value generated.

[00:33:29] Uh, it just, you know, it doesn't, it doesn't math out for the holders that are gonna get vested, uh, vesting schedules that show up where they can then dump their so salon on the public market. And then on top of that, it's like inflating, uh, at the same time. And so you also see that like when Disney, when.

[00:33:51] Nike when Starbucks, when these folks are choosing platforms to build on, like into the future. Um, I don't see Solana's name coming up very often.

[00:34:00] No, I don't either. And you know, I think that is, I don't, I think that's a big reason of why Polygon went for something like this was Ben in the discussions for sort of the business infrastructure, you know, business infrastructure, NFTs, and, you know, that is one thing, but it doesn't get, doesn't really get consumers looking at, you know, working on the network, bridging assets over and on it.

[00:34:23] And I think this is a, it's a different, Different way to go about it gets different attention, gets people actually on that chain and, and active. Yeah, I, you know, go ahead. I was surprised not to see more activity on, uh, on Utes in terms of, I was just like looking at the analytics and I didn't see a big price bump.

[00:34:41] It doesn't seem to have really moved it that much. And here, here's what I know, it's like per our last conversation of Yuga taking up the top five of the 10, , there's just an inevitability that you can't stay on the top forever. It just doesn't work that way, you know? Is this shift a signal that they're able to, you know, potentially build that?

[00:35:12] Is this D-lab? I don't know very much about them at all, but heck, if you're thriving in a bear market like this, is this something to look at? , you gotta see how the, the transition goes. Oh, you mean as far as like a project to follow? Um, yeah, like, yeah. I don't, I mean, that's a good question. You know, is this, is this, you know, is this the, uh, the, by the news or, or by the news point where it's up high and, you know, I see that there's a decent amount of volume.

[00:35:41] Um, yeah. You know, does it become a, I mean, what is, what's the biggest NFT collection on poly?

[00:35:49] I can probably figure it out. Um, just a note. You know, there's just not, I don't think there's like one collection that you associate it with it, whereas, you know, before I, I, I think that you could have said like Degos and, and Used were definitely the biggest projects on Solana and you know, you know, we know that we know the big ones on Ethereum and I think this is.

[00:36:10] You know, it's, it's a bit of just having a name of a big collection. And maybe it does, you know, I, I'm not betting against it. I'm not, certainly not jumping into this . No. Especially, I also wanna, I wanna backtrack a little bit. Like when you look at Utes, like the actual art of it, it is a pathetic board. A knockoff.

[00:36:32] Yeah. I think is my, is my hot take on it. . Um, they're just, it's fuzzier and less. Right. I mean, it was something that we, it's not good. When we looked at the Solana Network a while ago that the, I don't know, it feels a little stuck in, in the, the, the p fp era of, you know, just make any animal, make 10,000 of any animal and, and it can be successful if you have a Discorded Promise merch and whatever.

[00:37:00] Um, and it's. , you know, I don't know. It's, it's, I don't know enough about it to, to talk about the other aspects of it, but, you know, based on face value, I'm, I'm with you. Yeah. So, , I think in general. What else might be targeted? It, it's interesting to think that other projects on, on other platforms might be shopping around to the folks that still have money, which are, you know, apparently like the kind of avalanches and, uh, avalanche polygons and arbitrary on my bed probably would've, you know, been in the mix.

[00:37:33] Mm-hmm. , uh, saying like, how do we get and entice, uh, developers to move into it? Uh, but it's interesting. . Yeah, it definitely is. I mean, it's not, I didn't really thought about that aspect and I was definitely under the same, um, impression as you at first that it was more or organic choice versus a, you know, poaching by, by Polygon.

[00:37:54] Um, I'm sure that there are others looking at this if they hadn't been thinking about it before and now thinking, Ooh, that that's a pretty good method. Hey, that we, we still have, we still have money and a lot of others don't, so maybe we should use that in a different way. Yeah, pulling projects that are well teams that are building projects, they're still out there.

[00:38:15] Yeah. I mean, I see more from Solana even because that network's been so hurt and you know, there has been a lot of talk about the, the number of, of, you know, developers that are on the network. So Yeah, I I could see it there, I could see it from other networks. I think there's, I think we'll see some other alt chains, um, face problems or already facing problems.

[00:38:35] There's, there's a lot that you don't hear anything about, and. You know, at least we're hearing something about Solana. There's some that you just aren't hearing anything about. So I think you'll start seeing some attrition from those as well. And yeah, there, there may be some, some, some bidding words going on among some of these other chains.

[00:38:53] Well, I'm still rooting for our moon Cats . Oh boy. Oh boy. We called the bottom when they went. When they went away. Pond. Pond. Where will rise again? It'll happen. Moon Cats won't go below that threshold of, uh, 0.3 though. It's really funny, man. What will happen to the Moon Cats you think? Uh, you, you still think Kevin Rose might, might pick 'em up?

[00:39:18] I just, I think they're just an awesome, uh, I think they're an awesome long-term like Relic. Um, I've, I've been, I've fallen for the Relic in the past, but this of, of all of them has been the one that like. Kind of has, has actually like held and not gone to absolute zero. Like I'll, I'll just say, what was it, the stupid crypto bots that I thought the world of like two years ago being like, oh my gosh, it was the first on game, whatever.

[00:39:45] Like, yeah, not very much there. Now how about this? What if we could race our moon cats? Then , we put 'em in the state,

[00:39:59] Yeah. Now you have my attention. Cats Project. Huh? . Now you have my attention. Yeah. Moon Cats. They're hanging out at a four floor. Good job. Moon Cats. Oh yeah. Huh? That's, yeah, that's a little, they've moved up a bit. Yeah, I mean, as soon as I, I'll, I'll let, I'll let the group know. I only have two of 'em. Maybe I'll get another and force the price down so you all can afford 'em.

[00:40:25] Oh man. Is that helpful?

[00:40:27] Uh, well, yeah, I think that's, I think that's about it for these, the, the, the project poaching. Um, you know, I think I, is this a prediction or you think we're gonna see more of this this year? George Chain jumpers. I think that I'll put that, uh, I'll, I'm gonna claim this one, uh, chain. All right. Do it. Chain jumping.

[00:40:48] Yeah. I like that. That's a good one. Um, some warm, yeah, it'll be, It won't be the only one of, you know, there are good projects out there that are caught on , on bad chains. Um, and then there's things like this too. So, um, you know, take that for , however you wanna take it. . Cool. All right, well, I'll see you out there.

[00:41:13] All right. Bye George. Bye.

Understanding Wash Trading & NFT Trends | Interview: DragonFly

Hildobby Interview

Hildobby is a data wizard currently working at DragonFly, one of the earliest and most successful crypto venture capital funds. Additionally, hildobby is a prolific Dune wizard, having created dozens of incredibly useful dashboards covering a broad range of crypto topics, including his recently updated NFT dashboard for comparing topline metrics of popular collections.

• Collection (via Hildobby): Overpriced Gin
• Why hildobby left a master’s program for crypto
• How many trades/traders really account for most wash trading volume in NFTs?
• How racing to build airdrop dashboards helped hildobby gain traction
• What he sees as the coming trends in the NFT industry

Hildobby’s NFT Overview Dashboard

 

Rough Transcript:

[00:00:00] Rantum: All right. We are here with our second guest and I have made the mistake already of, uh, you know, talking to, to Hil Dbi for, uh, uh, about, for, for too long without recording. So we are back to record. I'm very excited to have Hil Dbi on Hil. DBI is a. Data Wizard. He currently works at Dragonfly, one of the earliest, most successful crypto venture capital funds.

[00:01:08] Uh, additionally Hilda, he's a prolific dune wizard. Uh, he's created dozens of incredibly useful dashboards, maybe more. Um, they've been a big help to me. I use his queries often to, to help my work. He's influenced a lot of what I've done and I'm super excited to have Hilda on. ,

[00:01:26] Hildobby: thank you for having me. Um, I'm, uh, very happy to be talking to a fellow, uh, prolific dune wizard.

[00:01:33] Uh, we've been shoulder, shoulder on the, on the June, uh, leaderboard lately. Uh, I mean, for the past, quite a, quite a while now. Uh, so yeah, it's, it's, it's really cool to, to be hoing onto your podcast.

[00:01:45] Rantum: Awesome. Well, tell me a little bit how you got interested in crypto. What, what led you to where you are now?

[00:01:52] Hildobby: Um, so I started, uh, after, after my bachelor in end of 2018, I, um, was looking for an internship and I found, uh, an internship at a company called Caico, which is a, a cryptocurrency data provider for, uh, off chain data. So, uh, sorry, central exchange data. Um, and that's where I really. Uh, more about what this blockchain space is and took an interest for it.

[00:02:16] Um, at the end, uh, I, uh, thought I wanted to, I, I, I realized I wanted to do a master's before, uh, moving onto, uh, the, um, the work life. So I went to Amsterdam where I did, uh, uh, masters in computational science, which is, uh, uh, modeling, uh, yeah, data science modeling, basical. Which was super interesting. I really loved it.

[00:02:42] And halfway through my masters, I discovered June, and I'm, I'm a very curious person, so I like to learn things by doing. And so I started to play around with the blockchain data by just, just as a side hobby inside project to understand it better. Um, at the time it, June wasn't as big as, it wasn't even remotely as big as it is now.

[00:03:06] So it was a much smaller, much more niche kind of, Space. Um, and I was also frustrated by the fact that if you looked on Twitter, all the charts you could see were just technical analysis charts, uh, going Exactly. I thought, I thought surely with this, with this whole blockchain thing being open to the public and everything being, uh, just easy to, to.

[00:03:32] uh, there should be more data on this available free for free. Uh, you know, there's, there are some data platforms. I think, uh, at the time, uh, the biggest work platform were probably like glass node and, and stuff like this. Mm-hmm. where, um, and then there's um, coin geco, coin market cap and stuff like this.

[00:03:49] But there wasn't really deeper analytics, uh, uh, much more deeper than this. And that's also because at the time the space wasn't necessarily as mature and there wasn't all this. , you know, the defi boom had not happened yet. Um, wait, no. The defi boom just had, just happened. Sorry. Uh, and, but, but people had not really leveraged the on chain data capabilities yet.

[00:04:12] Uh, or at least they had probably for themselves, but not necessarily in a public manner. Uh, so yeah, I, I, I just looked around the ground and then I started to have people take an interest for my work. So I leveraged this and, um, started to share my work public. And also started to do some freelancing in, uh, that was a year ago, just about a year ago, November, a year ago.

[00:04:37] Um, and yeah, I started to the market . Yeah, exactly. Yeah. So I started to take some, some, uh, some, uh, freelance jobs, uh, that was super interesting. I got to dig into defi, I got to dig into NFTs, uh, infrastructure staking everything so. Uh, really cool. Uh, and then I slowly grew my, my profile slowly grew and I, I, you know, I got more ambitious over the time.

[00:05:03] I got more things. Um, and then, uh, I realized, okay, if I wanna do something for the next six months, this is probably gonna be more valuable actually, than my, than finishing my masters. So, I, uh, went on to, uh, drop off my master's to pursue this full-time, uh, first as a freelancer, and then I always had this in mind.

[00:05:25] Um, my goal eventually was to, once the, the perfect opportunity comes around, uh, jump on it and, and join a really cool company. And Dragonfly was that company. So I started there in early July and, uh, I've been there main data guy ever since. So, uh, really grateful. Also really cool to work with, uh, a team of giga brains.

[00:05:49] Uh, yeah, just, it's so

[00:05:53] Rantum: impressive. Uh, yeah. You got some impressive, very impressive people, uh, including yourself now as well, but, um, it's, I'm impressed by how much you continue to contribute to the dune space and, you know, what do you, what, what, what do you like about working on Dune as that platform? You talked a little bit about how it's open and, and anybody can work on it.

[00:06:14] Um, is that what excites you about working on

[00:06:17] Hildobby: it? . I think that the two most exciting aspects for me are the collaborative aspect where you can, anyone can build on top of each other's work and share, and then, you know, whatever you contribute is a progression because other people can use that work, leverage.

[00:06:33] It changes slightly to their advantage and what they want to query. Uh, and the other thing is that, um, what did I wanna get at? Sorry. Um, uh, so the. Oh yeah, sorry. And the live data aspects, which is really, really cool. You know, uh, the, your piece of work that you did, uh, unlike most traditional data piece of work that are more of a timestamp mm-hmm.

[00:06:59] uh, in time and, and, and reflect, uh, the, the, the data space at a certain time. This is more live and, and, uh, I think that's super.

[00:07:09] Rantum: Yeah, absolutely. I mean, I think that's one of the, the best things about crypto in general is that this is live data, and it feels like for so much time we maybe weren't leveraging all of the, the data that was available.

[00:07:20] It was a lot of looking at prices. Um, what has, what have been some of your favorite dashboards to work on in terms of, I mean, what is, what, what interests you when you, when you dig into these?

[00:07:34] Hildobby: So I am, I'm, I'm very curious, uh, I, I've always been, and I don't want to, I'm not necessarily focused on a specific sector.

[00:07:43] Mm-hmm. , NFT has been the biggest sector I, I've focused on because there's simply, uh, been so much going on in n ft since the past year or so, and the spaces have also much, so there is a lot to look into. Uh, but I have done some defi stuff. I've done some, uh, staking. , I've done actually a lot of airdrop dashboards, those, uh mm-hmm.

[00:08:04] those were, uh, kind of how, um, I made a name for myself in the space really. So, uh, that was also exciting because for those, I had to, you know, it was more of, um, of a race to do it as soon as possible, because whenever it drops, you want to have the data asap, and that was kind of a fun challenge. I, I, so that's why I did, I think I did eight in total.

[00:08:27] Uh, I did stuff like e n s. a I did, uh, I dunno a lot more, but, um, those were, were super interesting. Uh, then I like, so surfacing stats when they're not available I think is great. Uh, that is, that comes in all kinds of sectors. And then also more recently, I'm starting to dive more into the research, uh, more research aspects.

[00:08:50] Just like I recently did a research piece on, on horse trading and train of. Trying to quantify that amount and, and also filter it out. Um, and that was also interesting. So I'm starting to lean more into this and I have already some ideas for upcoming research pieces that I'll be publishing in the future.

[00:09:11] Rantum: I saw some of your, your wash trading, uh, analysis, and it seems like you've found that there was relative small number of traders that. accounting for a large amount of the, the wash trading out there, or even just a large amount of volume overall on some platforms. Right. Could you tell us a little bit about, about what you did find in this

[00:09:29] Hildobby: research?

[00:09:30] Yeah. So wash trading in itself looks scary because all you assume Okay. This whole, um, okay, so in terms of volume, myself, is that around 45% of volume, uh, of traded volume on Ethereum has been, um, linked to, was trading. and it, it, it looks scary in itself. But the, the truth is that it actually is that only 1.5% of users are actually behind this volume.

[00:09:57] And they are just trading in very large amounts in order to get the highest reward for themselves on platforms such as looks rare and next to Y two, where there's a token incentive, uh, whenever you trade. So they are gaming those rewards, uh, and. I,

[00:10:15] Rantum: and they're not doing it by the number of trades, but high volume trades,

[00:10:18] Hildobby: right?

[00:10:19] Yeah, exactly. And, and, um, I had actually earlier in September, I was, uh, calling the crossfire or something where, um, hmm. A pro, a prolific journal, uh, was publishing, um, an article based on my, one of my old dashboards, which was my biggest still at the time, and, and still is, which is my NFT dashboard, uh, global macro dashboard.

[00:10:39] And they were saying, okay, the NFT space is down 97. , um, from, uh, it's January high, but the, the, the truth is that there's January high. Uh, a lot of it is, uh, wasting. So if you filter this out, it actually, uh, brings out a much better light to the space. And I think is also, yeah, just filtering out the noises is important.

[00:11:02] And this work must be done in the, to, to actually properly analyze the stats. You know, the, the raw data is, is too noisy. I think, uh, I wanna take out the good parts and leave out the rest, uh, and start from this baseline. And now, now that I have filtered this, there's so much to look into from this now filtered data.

[00:11:22] Rantum: Right? Right. So, as an NFT podcast, I've gotta ask you about, like, some of your favorite collections. We see your, your, you know, we've got, I know your pfp well. Can you tell me about that? What else do you love in the NFT space?

[00:11:35] Hildobby: Yeah. My, my, uh, profile picture is, is just. Project called Crypto, um, crypto mos. Uh, it was around since I think it Minton in October, 2021.

[00:11:46] Um, and I kinda like the, it just looks goofy and a little different. Uh, it has a very distinct look, which at the time definitely I appreciate it. Um, I also, uh, actually my profile picture is not just a crypto noises. I also have, uh, noun glasses on it, uh, because I just, that's right. Noun nouns is a, is a really cool project as well.

[00:12:08] I don't know. I, I think it is one of the most long-term sustainable, at least so far, it's proven itself as the one, one of the most long-term sustainable project because they have constant revenue and their treasury is something people, uh, are interested in. So they get proposals to, to build on top of the project.

[00:12:27] And that's, I think it's a, it's a really cool experiment at the very least. Um, and I do like this. , these innovative projects that try something new and, and are daring mm-hmm. , uh, to try, you know, um, uh, back a year ago, uh, it used to be that 99% of projects were, uh, the same thing of, uh, 10 K PFPs. And, and I, I really got tired of that pretty quickly, so I was looking for something.

[00:12:55] Think the market did . Yeah, exactly. So, um, so I, I appreciate those who dare to innovate and try out new. , um, I like lately, uh, so overpriced jpeg, for example, did a drop where you can mint, um, an over overpriced gin, uh, um, n ft, which

[00:13:17] Rantum: they're telling you it's overpriced. ,

[00:13:19] Hildobby: yeah. Yeah, sorry. Yeah. It's the name of the, it's the name of the project, uh, it's called No

[00:13:24] Yeah, yeah, yeah. But, uh, but, um, uh, and I, I like, can, you can redeem it for, uh, a Ville Jim of Gin while uh, supporting the show. , it's a win-win for both the podcast and also for, uh, those who choose to mint. Um, so I like, I like this. Uh, I,

[00:13:43] Rantum: I think I heard of this one. Um, it has the artist, Amber Ator, who we've talked about on the podcast as well.

[00:13:48] So we'll link that. Check that out. , go ahead. Yeah,

[00:13:51] Hildobby: the, the art is great. Uh, I think the, the bottle also stands out for its art. Uh, so I like. I must put into this. It's not necessarily, you know, it's not, it's not, um, uh, a price that is completely, uh, crazy or, or something. And I think the value is, is, um, you know, it, it, it is a good price for what you get, I believe.

[00:14:15] Uh,

[00:14:15] Rantum: so it's not a great podcast they've done, and they've had us do some really good interviews and they've done some great work over there. So, I mean, it's a, it's a. cool project. I like the idea of connecting a an N F T to a physical object. We've talked a little bit about that in the past. So this is, this is cool to see.

[00:14:32] I think I'll have to mention this to my co-host and he can add it to his growing N f T bar .

[00:14:39] Hildobby: Would this be actually something you would be, um, how, how do you foresee the future of this podcast and would this be something you, you would see as, As, uh, would you envision some releasing some NFTs or, yeah, I, I curious

[00:14:52] Rantum: about yours?

[00:14:53] No, that's a good question. We've never, we've never gotten into that and it's something that it, it's sort of silly that we haven't done ourselves, but, you know, it's been a bit of, we of a time issue. You know, we, we do it, we can to get the, uh, the podcast done, but, you know, maybe we can start putting some more, more work into it and, uh, you know, get an n f T of our own out there.

[00:15:13] Hildobby: Yeah, no, I, I, I, I appreciate because I think appreciate it because I. , the bulk of, of what is important, of course, is the podcast. Um, the releasing n f t on the is more of a side project than, and it shouldn't, um, you know, it shouldn't, uh, obstruct you from, uh, actually doing the podcast, you know? Uh, otherwise it's, it's not a productive thing.

[00:15:34] Um, so yeah, I think, uh, that's a very reasonable take.

[00:15:39] Rantum: Awesome. I really appreciate you coming on and talking about crypto, about NFTs, uh, anything. You know, we, well, we, I know that you just updated your, your NFT dashboards. We're gonna link that as well. Can you tell us actually a little bit about that NFT dashboard you have That is, as you said, your most popular one.

[00:15:56] Uh, can you just tell us Yeah. A bit about it?

[00:15:58] Hildobby: So, um, actually this is, this is part of a, of a bigger project I have in mind. Um, I, uh, so I currently updated this n ft dashboard, which is, uh, the macro, uh, N F t, uh, Ethereum NFT Landscape. Uh, and it show, it, it shows you, uh, the top collections based on all-time trading, but also trading volume traders, uh, aggregators.

[00:16:21] Um, it also leverages my recently released wash trading filtered method, uh, which I. . Um, it's, it's hard to look at the space with the, the, like I said before, with the noise. So I, I, now that I've built this foundation without was trading, I can build a lot of things and this is the first dashboard, but I actually wanna dive more into, uh, this, this, uh, N S T stuff.

[00:16:44] So I have more dashboards. Uh, even this week I'll be releasing more stuff, uh, on, you know, this N F T is starting to be quite a big space. So there's a, um, for example, uh, royalties is something. It's been debated a lot, but it says, found little, there's little data to be found on it, and I find that frustrating.

[00:17:04] So I want to help there and, and surface that data and make it accessible to all,

[00:17:08] Rantum: um, sales. Right. The headlines without much data behind, behind the variety debate.

[00:17:14] Hildobby: Exactly. And I find that, yeah, I find that very frustrating. So I, I want to contribute where I can and surface those stats in a, I think they should be freely available, just like the blockchain is freely accessible.

[00:17:25] Um, And that we should all be playing with the same amount of information. So yeah, that's, that's where I wanna contribute.

[00:17:33] Rantum: Awesome. Cool. Well, again, thank you so much for, for coming on. Uh, where can people find you? We will link it in the show notes, but if you wanna mention it here, it'd be great. .

[00:17:42] Hildobby: Thank you very much.

[00:17:43] Um, so my moist, I post mostly on, on June, my June profile and then Twitter. I will post all updates, new charts, everything. I'll also do some ad hoc analysis, so if you wanna follow me there, that's why I'll do most of my work.

[00:17:57] Rantum: Awesome. Cool. Well thank you so much.

[00:18:00] Hildobby: Thank you for having me.

Anatomy of a HODLR - Using Dune to Decide | Interview: Block199.io

Block199.io Interview

For our very first guest podcast, Rantum spoke with ElBarto_crypto  a Dune wizard and crypto data scientist, working on research at Block119.io. Recently, he’s researched and published on topics like NFT Hodler segmentation, airdrops, and NFT wash trading. 

• How to check if a collection is made of hodlers or flippers
• Check wash trading volume for collections & platforms
• What tools el_barto uses to use to analyze collections
• What topics he plans to research next

 

Rough Transcript

 

[00:00:00] Rantum: All right. Uh, here we are. I, this is ran. Andrew, here I am with our very first guest. We've talked about this on the, if you've listened for a little while, we've talked about this on the intro for a long time, that we would have guests, we've, uh, yet to actually do that and. Well, that's up until today. Uh, we've had, uh, we have a data sign, another data scientist joining us today.

[00:01:06] He actually reached out his Alberto Crypto as he goes by on Twitter. On Twitter. He reached out, uh, and asked to, to be a guest on the podcast. And, you know, I, I felt like we really needed to, to actually do it. So here we are. Welcome to the show, El Baro Crypto .

[00:01:24] Elbarto Crypto: Gne. Well, thanks for having me. I've realized in life if you just asked people enough, they either get sick of you or they let you do something.

[00:01:30] So in this case, I'm glad to be the latter.

[00:01:33] Rantum: Yeah, yeah. Really excited to actually do this. You know, it's a good needy, you know, little instigator to, to make it happen. . Perfect. I love it. So tell me a little bit about yourself. How'd you get where you are? How'd you get into crypto?

[00:01:48] Elbarto Crypto: Yeah, so I am actually a data scientist by trade.

[00:01:51] I worked in marketing analytics for probably a little longer than a decade, doing everything from segmentation, machine learning just writing basic SQL queries. Got to spend a lot of time doing customer analytics for very large brands, uh, in the marketing space and. Sort of caught the Bitcoin bug in like end of 2014 ish and you couldn't do really anything at that point.

[00:02:17] You could just send Bitcoin to each other and that was, that was fun. . And then yeah, Ethereum ICO came. Um, once again, people still just, you know, sending Ether around, maybe trading on XX Ether Delta, these crazy, um, underground exchanges. Uh, but once for, for a while, you know, really the only thing you could do is, is not get caught up in a scam or an ICO scam.

[00:02:39] And then, uh, right around 2019, I believe it was, um, dune Analytics launched and that was like sort of. . That was sort of like the great equalizer for data scientists because now all of a sudden you have this platform that you could tap into to query the blockchain, you know, for free, honestly. And that was like the, the most beautiful thing.

[00:02:58] You could just easily share careers with people, share dashboards with people. Then this Analytics community, sort of, joined around that. And then other products like SEN launched, um, flip side crypto, a lot of these, you know, data open blockchain on, on BigQuery. And so now all of a sudden you, you know, you didn't have to worry about data engineering running your own validator, running your own node.

[00:03:18] You could just. Query data and you build, you know, beautiful data sets. And, uh, I think a lot of things like in the marketing analytics background, definitely applied to crypto just in terms of, you know, user retention who's actually using products, machine learning, things like that. So yeah, absolutely.

[00:03:34] It's been a very natural transition to, uh, to analyzing data. And now, uh, now. It's gotten crazy. analyze a lot of data on Yeah. Yeah. , it's, it's a lot of fun though. Meet a lot of the people like yourself. So, yeah,

[00:03:46] Rantum: similar background. I was, I did a lot in, in e-commerce, analytics, marketing, uh, for this and, you know, fem way into crypto.

[00:03:53] And, and it's, it's, it's really exciting having access to all of the, the data as opposed to, you know, just what the, uh, the one company that you're working with, uh, provides. Right.

[00:04:03] Elbarto Crypto: Yeah. I mean, that's such a good. Like I, I think people don't realize like how special this data set is if you go work for you know, like a big enterprise company, even as a data scientist, like, well one, like you probably don't get access to data right away.

[00:04:17] You probably have to get approved. You have to, you know, build the trust of people to start analyzing data. Um, here from day one, you know, it's, it's open right here. You can even, I think Google BigQuery even gives you $300 free. Uh, so you can just tap in immediately and. Securing data. It's really, uh, it's really amazing.

[00:04:35] Rantum: Yeah. Yeah. How did you. , what was, what did you get started with when you started on Dune? I mean, you saw that it was available, there's free data. What, what were the first projects that you got interested

[00:04:46] Elbarto Crypto: in? Yeah, so the first thing was just really looking at like what, who's using, uh, who's using the platform?

[00:04:52] And as many, many people know, my dog who's in the background, he's, uh, he's, he's running from farm to farm is what he's doing. Uh, many people, uh, I think at first it was just creating, you know, The raw blockchain data itself to really like, understand what's going on. I think, I think one of the biggest problems people face is there is this open data set, but immediately they, um, get inundated with these, uh, very specific contract calls and they have to, um, decode data and all of a sudden you're dealing with OS and hashes.

[00:05:25] And I think at first people get really like overwhelmed. And I remember looking. , um, dune for the first time and just seeing all these contract abstractions, like, I think it, it must have started with Ave back then, but just thinking like, what is going on here? Like how this is, this seems impossible. So I think it definitely takes a lot of patience, but at first it was just, you know, how many people are using the Ethereum blockchain?

[00:05:47] You know how many people a day are using it? How many people used it last month and now are using it this month again? So it was really, for me, it was really just basic before, um, really diving into like more more of the abstractions around like ave and then compound and really seeing that lending side and then really just trying to visualize like who's making big D trades, you know, just very basic, like, hey, just let's just sort dex trades by u SD volume and like, let's just see who's buying things.

[00:06:14] So I think like, yeah, at first it was like super basic because honestly it, it's very overwhelming when you first look at it. Yeah, absolutely.

[00:06:20] Rantum: I mean, having all of the data available is, is great. And it's also overwhelming, right? Having all the choices. Exactly.

[00:06:29] Elbarto Crypto: Everything's thrown at you at once. It's uh, yeah, it's a lot of our.

[00:06:34] Rantum: How did you, you know, or 2019 it was, you know, a lot of D trades, you know, then we got into, you know, the kind of defi after that and then, you know, saw, you know, NFTs come, you know, big in, you know, in 2021. I, you know, it's is when it was, you know, really took off. How did you, uh, What, what did, how did you start working with the N F T data?

[00:06:56] Um, and how'd you find that different than working with some of the, uh, the early token data? Yeah,

[00:07:01] Elbarto Crypto: I like, the reason I like N F T data a lot is because, um, the same token, i e d and the same, um, the transfers across trade. So I think one of the biggest problems you have with Dex trades and analyzing like defi data, , um, people can immediately go anonymous.

[00:07:19] Like, if I make huge Dex trade I can then just go back into Binance or just send my phones back on a Coinbase or and then it just becomes like an, an empty hole. Like, well, what happens with that person? What happens with that token? But for n n T data, since it's all on chain and you can't really, and each token is, is essentially a, a unique token, it really lends to some interesting analytics around.

[00:07:42] how long people hold NFTs. So I think that's what one of the things that drew me to it was, it's understanding the nuances are obviously like very complicated, like with lost shells, which we'll probably talk about later. But from the very beginning, it made sense to me that like ID one is always ID one and it always corresponds to the ID one.

[00:08:03] So it, it really lends to some beautiful, like long-term a. , um, with NFT

[00:08:08] Rantum: drill. Yeah. That, that non, that non fungible aspect really takes exactly

[00:08:12] Elbarto Crypto: way, right, . Yeah, exactly. I think people take, I, I think, I think people don't realize like how unique that is. Uh, and definitely allows for, for interesting transac for interesting analysis.

[00:08:22] Rantum: Yeah. I mean, I, I've definitely found that interesting. When you look at NFT collections, I mean, you can't look at trades as, you can't look at every trade as the same. I mean, there are. oftentimes reasons that things are trading at, at much, maybe something significantly higher than the floor. You know, sometimes there aren't, and you know, we know there's a lot of wash trading out there.

[00:08:42] Um, have you found that, have you found that aspect difficult to decipher, you know, what is real versus, uh, sort of the wash trade or how much do you

[00:08:52] Elbarto Crypto: Yeah. Uh, shout out to Hilda today for, for introducing a new, uh, uh, wash trading flag. So at first, like I remember this is like really dating myself. So like, well let's, you know, starting with like the looks rare, um, that was like when, when people first like, oh man, yeah, that, um, wash trade concept of like, hey, volume is exploding, but in reality like people are just nibis and terraforms.

[00:09:19] Yeah, exactly. So I think it's like, yeah, I think it. It's so interesting because you, you, you can do very basic, you can do very good analytics, just the basic, you know, SQL group buy statements, and this is, this is Data Pod Science podcast. We'll just go right into and nerding it out. But you can do very like, easy analytics with, you know, group buy day, you know, what's the volume of n ft sales?

[00:09:41] And I think a lot of a lot of mainstream publications like to just look at like, okay, um, volume is down 80. . But in reality, like it's obviously much more different than that. So, we now know that, uh, a lot of volume all looks rare was really just people farming will look for a token just mindlessly trading tokens.

[00:09:57] And so from there it, you know, it'll, it, it forced people to sort of think a little deeper in terms of, you know, a trade is not just a trade and you know, what is an actual wash sale trade or and now I think. . It's interesting because blur almost, it, it forces you to rethink about analytics once again, because we know like what a, a wash trade is now.

[00:10:18] But now there's like these very interesting, um, analytics going on about people, you know. Taking this one step further and doing all sorts of crazy placing orders like slightly above the floor price when they not be a wash sale or maybe swapping out NFTs. So like let's say if you own a board ape and you just want to farm, you don't really care what ape you own and you just kind of wanna farm the the blur sale, you can sort of just.

[00:10:42] Sell eight, buy another one, sell that one, buy another one. You're not really changing anything. Even taking slate laws

[00:10:48] Rantum: to Exactly, yeah. Of the blurred to eventual, blurred

[00:10:51] Elbarto Crypto: token . Exactly. In the hopes of getting a $50,000 airdrop. Uh, so it's interesting now, like, as these N F T models evolve for, for revenue for these exchanges, like then doing the due diligence of analytics to, to figuring out, you know, what's.

[00:11:09] Rantum: Yeah, it, it's, you know, we see these incentives and, I mean, we've seen all these, uh, sort of vampire attacks on open sea and different ways to try to maybe disincentivize people from gaming, the systems, and it seems like. Collectors or, you know, maybe not, and maybe those, I shouldn't really call those people the collectors.

[00:11:28] These are the, the people out there. There's somebody that's going to figure out how to, to make the most of the system. And, you know, it's, it's a tough one when you to, to, to look ahead and realize what people are going to

[00:11:38] Elbarto Crypto: do, . Oh, absolutely. Yeah. And I think it's, it, it's, I don't wanna say it's fa as an analytics person, but like it definitely makes you think, and it definitely challenges you to say, , how can I use data to, to understand what, what's really going

[00:11:53] Rantum: on?

[00:11:55] Yeah. I mean, it, it is, I mean, all of these different crypto charts, there's always, you know, looks all steady until there's a serious inflection point and something drastic changes. And, and you see this all the time. I mean, you know, and in just the volume that you see among opens sea and blur and, and looks rare and, you know, you, you sort of need to know the story behind why these, these things are changing so drastically.

[00:12:17] Elbarto Crypto: Yeah, exactly. And I think that makes you a better analytics person too. Like I, you know, if, if you're looking at break into this sector, and you know, like on job interviews and things like that. Like definitely bringing up points of like, well, why do you think um, hey, this data looks like the way it is. Is it sustainable?

[00:12:33] Exactly to your point. Like, is it sustainable? Like, what's really going on here? I think, do you really have a ability to differentiate, like in this space, if you can bring these, you know, differentiated analytics. So can you tell me

[00:12:46] Rantum: a little bit about block 1 99 and then the N F T Hudler segmentation that you've been working?

[00:12:53] Elbarto Crypto: Yeah. So, um, we are essentially just a research firm. Uh, we do research for, you know, individuals for protocols, uh, all across the stack. And so a while back someone was essentially wanted to understand, you know, what, you know, how people, how different N F T projects are and what their users look like.

[00:13:15] So for example, like if you have an N F T project where. , most of the holders are people that you know, are these larger whales? Maybe just like trading in and out of things, you know, what does the long-term engagement really look like versus an N F T project where a lot of people. we're in it from the beginning.

[00:13:37] And, um, they're true loyalists like of a project. And so what they were trying to understand was, you know, should I, you know, invest in this N F T project because are are the people that are really long term holders. So the way to do that, and, and it's really a, a beauty of the blockchain is you, you can, uh, you can essentially just take all the holders of a certain n ft collection and then you.

[00:14:02] uh, count how many NFTs they own. Some the amount of volume that's been spent look at, you know, are they how much wash sales have they done? How many floor sweeps have they done? So you essentially have this data frame of, you know, the 10, you know, the 5,000 holders and, you know, what's all their N F T activity.

[00:14:19] From there, you can just like run a kme segmentation to find these different, um, groups of, of people and then figure out like, okay, well what is their activity in the entire N F T space? So if you see that, you know, 90% of the holders, you know, on average holding N F T collection for 20 days, or are the, you know, top 10% of traders on X two, Y two, you may think twice about buying that FT collection because, you know, people are just flipping it for the sake

[00:14:47] Rantum: of Flipp.

[00:14:48] Right. Right. And so when you're looking at these, the activity, you're looking at activity from all

[00:14:55] Elbarto Crypto: NFTs,

[00:14:56] Rantum: that, that may have ha uh, been passed through this wallet. You're not looking at necessarily that specific collection. Right,

[00:15:01] Elbarto Crypto: exactly. Yeah. And I think like, you, you know, you can, you can almost sort of like then do this matrix if you will.

[00:15:08] Like, you could segment, um, just like current activity and then sort of like create this matrix of like Yeah. All other n ft activity to get really, like, dive into. How the users play out. But ideally, like what you're looking for and in the case of this person that they were looking for was, they wanted to see that people who are like true contributors to the N F T community or they had like strong holdings and like what would held on, would hold on a lot.

[00:15:32] think like some good examples of that are like, if you look at pudgy penguins, um, shout out to the, to the poo group. Um, a lot of them have, if you, you just look at simple like distributions of how long they've been the project for. Like a lot of them, um, have held since the beginning almost. And so you kind of look at that community and say like, okay, is that's something that I wanna do for the long term.

[00:15:54] and the price. And, you know, the price has done pretty well. They had on a recent mini surge this, um, past couple of weeks. But it makes sense because, you know, just the supply of, of poos to hit the market is if no one's selling, it's always going down the, the number, the amount of supply that's hitting the market.

[00:16:11] So, um, it makes sense that, you know, eventually, uh, Prices price go up. So Right. Versus, uh, versus like, you see

[00:16:20] Rantum: the sustained interest, I guess is, is something that it's a little hard to measure from inactivity, but if they're not, if they're not dumping, there is something there. Right. . Yeah, exactly.

[00:16:30] Elbarto Crypto: And I think that's the, that's like the holy grail of NFT engagement is how do you measure engagement of, of the nons sellers.

[00:16:37] Because right now I, you know, Like volume does not equal engagement. If someone is selling their N F T, they're the least engaged with the brand.

[00:16:45] Rantum: Right, right. Volume is is a very poor measure of, of the quality of a

[00:16:50] Elbarto Crypto: project. Exactly. I, the problem is like unfortunately, like we don't have another way to, to do this.

[00:16:55] And I think like the ways so far, it's interesting looking at the, the board ape ecosystem and, and, and maybe you can see. , you know, how many people are participating in governance or how many, you know, a polls also hold ape coin. But, you know, getting outside of the blockchain, you know, engagement becomes a much more interesting thing.

[00:17:18] I think the evolution of NFTs should be some sort of like, loyalty, you know, coming back to the marketing world, you know, some sort of like marketing, uh, you know, CRM engagement platform where you can engage like outside of the blockchain. . Uh, so it's, it's, it's definitely in its ancy. And I think I'll, I think, I think NFT brands that are, are data first and are looking to expand their analytics capability are definitely gonna do better.

[00:17:43] Rantum: Yeah. It feels like there's just a lot not being used. I mean, you can obviously find out so much about your, your holders and what their interests are just by looking at the wallet, and I don't think that's being, being used by many, uh, project creators or uh, leaders at this point.

[00:17:59] Elbarto Crypto: Oh yeah, absolutely agree.

[00:18:01] Rantum: Um, so you've developed something called an nf or you're working on something called an N F D D Gen Score. Can you just tell me a little bit about that?

[00:18:08] Elbarto Crypto: Yeah, so I'm looking for someone to take this over actually. So DM me because I'm going out on crypto paternity leave soon. But essentially, uh, there's something called the defi, um, D Degen score, or it's just, I think it's just called DEGEN score.

[00:18:23] um, your defi activity, right? And I, I want to build, I'm in the process of building, haven't built yet. Sort of like this N F T engagement or D gen score of, okay, how many you know, how many projects do you hold? How many mints have you done? How many, how many trades have you placed? Um, the idea here is more along the lines of it's almost like a segmentation, but.

[00:18:46] if you're an N F T project, that's going to whitelist some you know, whitelist or project for certain holders or addresses. It would be nice if you had an idea of, of, you know, who would you want to whitelist this for? And like, do you wanna exclude certain groups? Do you wanna include only people with above a certain score or, you know, have had certain engagement?

[00:19:06] So I think it's like really meant for, you know, hopefully for projects to better understand. , Hey, let's, you know, make this let's make this white list. Like for people that really care about NFTs or like people that aren't just gonna like immediately dump, um, these NFTs. So there's a lot of ways you can do this.

[00:19:24] I, I would want to almost optimize this for like, engagement with NFTs instead of just like farming to dump. But I think that's where the hard part comes in.

[00:19:36] Rantum: Yeah. Yeah. I mean, I think we're seeing, I mean, we're so sort of a misalignment, so many places of, you know, where are the, you know, what is activity and, you know, what, where is the, you know, where are the royalties coming from?

[00:19:46] When you're thinking about all these, uh, these different issues, it seems like we come back to the same thing. The people that are are selling are the ones that are co, I mean, you know, obviously a, a cell requires a buy, but that's when the, the income comes into a project. When. Ideally you just want nobody to, to really wanna sell.

[00:20:05] Right? And

[00:20:05] Elbarto Crypto: yes. Yes,

[00:20:07] Rantum: exactly. How do you, I don't know. I'm not, you know, I see that one, I know that one of the projects that you wanna work on is, uh, trying to calculate the royalty income and, you know, do you see that as being a sustainable model going forward?

[00:20:21] Elbarto Crypto: I, you know, I'm very mixed on this because I used to think, like, I used to want projects.

[00:20:26] I used to really like the royalty initiative because I think it is fair in some sense. . I think if we were to eliminate royalties like tomorrow, I think they would force N F T brands to start thinking of like alternative business models because yeah, like as we said over and over again, like the royalty optimizes towards people selling.

[00:20:47] In reality, it should be the complete flip of that. Like the most engaged people, like across every brand, the most engaged people with the brand are the ones like creating the revenue for you. I, while I, I don't know exactly where I fall in the royalty space right now. I, I, you know, it's not, luckily it's not my job to do that.

[00:21:07] Yeah, right. . But I think that like, it would force n f T brands to think of new revenue streams that I only think will help them. Because right now royalties are obviously limited to people that are buying and selling NFTs. And the goal is to. a brand. Just a brand in general, right? Like when you think about Ferrari, like everyone knows Ferrari.

[00:21:30] Their, their brand recognition is beyond anything. They, I, I was surprised though. I was looking at their, their income statement and they, the majority of their money, they still make off of selling cars, selling parts, et cetera. I think only like 15% of their revenue comes from like merchandising and things like that.

[00:21:46] For an N F T brand, that should be the opposite. It, in my opinion, like 15% should come from royalties and then 85% should come from some other I don't know what that is. Hopefully someone smarter than they can figure that out, but yeah. Yeah, it's

[00:21:58] Rantum: tough to say what that is because they're, you know, as collectors.

[00:22:02] I, I think people expect to get something from that. Mm-hmm. . And as we've seen recently with the, uh, artifact uh, Nike, uh, project, you know, people are not terribly happy when the, the, the next part was the ability to buy something and, you know, maybe a discount. So, you know, I think that still has to be worked out and I'm, I'm curious where that does go.

[00:22:23] Yeah, I'm not , I'm not exactly sure where I fall overall, you know, I'm very pro royalty. Artist, but I think that's a very different thing than, than these 10,000 piece collections. You know, when I think of art, you know, I'm thinking of small collections or, or even one of one. I see that as being a sustainable model going forward.

[00:22:41] Very different than, you know, 5,000 or 10,000 because you've always got other people that are, I mean, it becomes a bigger issue for the liquidity of a project when you've got a five or 10%, um, royalty, uh, fee built in.

[00:22:54] Elbarto Crypto: Oh yeah, absolutely. Like the art box, when you have only have 200 of them, you would hope, yeah, you would hope that some sort of wallet royalty, right?

[00:23:01] Yeah. But um, it's also, yeah, like when people expect something, it's like they, they don't understand like the, the basic like lifetime value, the customer acquisition cost ratio, which is, which is completely flipped now because if I buy a doodle right now, uh, doodle will get, you know, whatever the 3% of.

[00:23:24] $6,000 sale. So let's call it $180. Like great. Uh, yeah. That, that's tough for them. . Yeah. Yeah. To give me more, uh, to give me, I, yeah. I think people definitely expect $180 more of stuff. And I know, I hear, I hear doodle putt was really fun, but. .

[00:23:44] Rantum: Yeah. I didn't make it over there. I was, I was down in Miami and I did not get to go to that.

[00:23:48] Elbarto Crypto: Unfortunately. , I'm sure, uh, I'm sure many of the doodle holders though are, are, uh, negative. Uh, yeah. So that's like one of the issues, right? Like if you become a doodle holder, you expect the world, but like the, the economics just don't work yet. Hopefully they do in the future, but Yeah. Or like, I mean, I think this, like, I think this introduces like new.

[00:24:10] New forms of business. Like if, if doodles were to, you know, create these events, but like you could lend your N F t to somebody to go, or you know, that they would pay a fee and like lend a doodle or something like that. I think like there could be interesting innovation there. It's just.

[00:24:28] Rantum: Yeah, it is, it does feel like it's still to be determined how, how to really structure these for, for a longer term.

[00:24:35] You know, it, it reminds me a bit of. Just as you saw advertising in, you know, online advertising, it got more and more expensive and, you know, there's more promotions and, and things to get people to come and, and click. And, you know, you're talking about the, the lifetime acquisition. You know, it went from early on when you were advertising on, on Google, you know, you could make.

[00:24:54] You know, you could even maybe make a profit on, on a sale or something. And then it turned into a longer and longer lifetime and you just saw that the cost go up as it sort of got inflated. And, you know, I think Barta that was maybe, you know, there was obviously more money being spent and you saw that there was a lot of, a lot of venture capital coming in.

[00:25:12] Um, I'm wondering like how that's going to start affecting. , you know, these rewards and everything. You know, if it's going to be, you know, in, I mean, I assume that it's going to get redistributed, they're like less middle men. You know, you can, it's being given directly and, you know, it's hard to recognize what is, what's, what's real versus, you know, what's sort of artificially pumped in

[00:25:32] Elbarto Crypto: Yeah, absolutely. I, yeah, and it'll probably take another year to play out to see what these, yeah. What this looks like. But,

[00:25:38] Rantum: um, what else are you, uh, excited about? Right. .

[00:25:40] Elbarto Crypto: I think definitely like the more of the in-person experiences, um, within the NFT space. I think like I, I, I am glad everyone is mad at like Live Nation and Ticketmaster right now because I, I hope that, uh, I hope that somehow the N F T space, uh, can solve for that somehow.

[00:25:59] Uh, like I'm a big fan of India Top Shot. I, the product is beautiful. It's just a, it's a great experience, but you know, like as a, as a, as a top shot, like minnow, not quite a plankton, I'll, I'll call myself a minnow. Uh, you know, I'm definitely looking for that, like further engagement of like, with, you know, with the team that I like or with the player that I like.

[00:26:22] Like how, how does that like work and, and, and sort of like what's the next step for them. Certainly looking for, you know, forward to that. And then I think like on like the zuki uh, collection, you know, I. , I kind of wanna see. They have great, like website. They have a great website right now. I think they're, you know, they're branding.

[00:26:40] It's really on spot. I'm, I'm really a

[00:26:42] Rantum: lot with, uh, with, with wearables as well, right? Yeah,

[00:26:45] Elbarto Crypto: exactly. Like I saw, I, I, I was just like walking around, uh, where I lived the other day and someone was wearing, wearing a, um, a Bathing Ape shirt and I'm like, I'm like, oh man, I, I'm kind of like, I'm hoping like bored ape supplements that, or something like that.

[00:26:58] So I'm definitely looking for these like real world experiences, like the bridge between the two and then, yeah, like in like the new innovations of, of business models for these, uh, and like when, you know, when everything will just airdrop, you know, that's what I'm looking for. .

[00:27:13] Rantum: Yeah. Right. Air when Airdrop

[00:27:14] Yeah. When

[00:27:15] Elbarto Crypto: airdrop, I'm just gonna mask token. Yeah, yeah. Exactly. Just one day, just give it all to me, you know? Right. Yeah.

[00:27:21] Rantum: That would be, those were nice back, back when those were just coming out every couple weeks. Right. it, it was nice. Yeah, it was

[00:27:28] Elbarto Crypto: nice. Uh, have

[00:27:30] Rantum: you been to, uh, many in-person events or have you gotten to get to.

[00:27:33] Elbarto Crypto: I, you know, it's funny, before the pandemic I used to go to a lot and I tell this funny story of, um, I went to a, this is like really gonna show my age. I went to a Dere meetup which is, for those who don't know, is, uh, is a, a Bitcoin esque product. And, um, , they, the where I went, they ordered, um, they ordered 10 pizzas, but only eight people went to the event.

[00:27:57] So, uh, that just kind of shows you like how, uh, popular crypto was in

[00:28:03] Rantum: 2018.

[00:28:05] Elbarto Crypto: I wanna say. This was, um, I bet they didn't pay for the pizza with Bitcoin anyway. No, they, no, they did not. Uh, they used good old Uncle Sam dollars. So it's. It's really interesting to see like how how far things have come. And, and I was, uh, I went to an event, like a coup, a pretty small event, um, about a couple months ago.

[00:28:25] And, um, it's good to see the energy back with people. Um, I like to see that. I, I, uh, I think I'm gonna make a huge, you know, I'm, I think I'm gonna make a splash next year by trying to go to some of these places, but, um, it seems like, uh, it seems like, yeah, there's good energy there. . Uh, yeah,

[00:28:42] Rantum: I've enjoyed getting out to some events.

[00:28:44] Just was at Basl as I, as I mentioned, and, uh, hoping to get to N ft N YC again, uh, this coming year. They seem to just, uh, make, make it difficult and move the month every , every event, . Um, lovely. So you can't really, you can never predict it, but , did you say anything?

[00:29:01] Elbarto Crypto: Was there any interesting activations at, at Basil?

[00:29:05] Uh,

[00:29:06] Rantum: so NFT now had a big. Two blocks are so. Just for their own event. But then they had different booths within there where art blocks was there and Meta mask was there. And, uh, nine dcc, uh, which I talked about, um, recently, they had a min a shirt there, a one of 1200 was a snow fro. Oh. Uh, inspired art on this shirt.

[00:29:32] So they worked with him on that. So there were some, there were some definitely cool, uh, N F T events. Um, you know, it was a little quieter in the N F T areas than, than maybe I I expected, uh, compared to, compared to something like, I mean, N F T NYC is just, it's, it's pretty big, you know? I know there's.

[00:29:49] There's some complaints about, uh, the event. And, and I would also say that you don't necessarily have to go to, to the official event to, uh, to find many things to do. I mean, that's, that's, that's definitely the case at Basel, you know, where it's very unofficial. It's part of ma maybe it's part of Miami Art Week.

[00:30:05] I'm not sure if it's technically even, even that. Mm-hmm. Mm-hmm. Right, right. But yeah, the in-person events I think are great. You know, I think people are still kind of getting out and I think part of, you know, even the, the fashion things, it's part of kind of bringing. Off the screen, off the, you know, off the computer and making it a little bit more real

[00:30:23] Right. Exactly.

[00:30:25] Elbarto Crypto: Step away from farming. It'll be, you'll be okay. You don't have to get all of them.

[00:30:29] Rantum: Yeah. Right. , So you have, you have some new dashboards coming soon, but you are, you're well right now. It sounds like you are, uh, paternity leave. Huh?

[00:30:38] Elbarto Crypto: trying to figure out how to make, how to do a swaddle. Yeah. So, oh man. Yeah,

[00:30:42] Rantum: I remember that one. .

[00:30:44] Elbarto Crypto: Yeah. Any need tips? Let me know. Yeah, I mean, I'm always looking on, you know, always looking for new data.

[00:30:48] Um, always trying to build, you know, Data dashboards really to help people understand, you know, how data's being surfaced. You know, I've got a lot of like, you know, research projects on the back burner. Really trying, really, like trying to go after this question of like N F T engagement and you know, what kind of, who will be around for the long haul.

[00:31:07] And then really, I am very curious about this defi N F T overlap. I, I think there's very, you know, I think the two are very separate right now, and I think people just assume by building a, a lending NFT platform that everyone will just come, you know, no questions asked. But in reality, the reason people got into NFTs is not because.

[00:31:33] they're also excited about uncollateralized lending. Like they don't know what any of those words mean. And frankly, I don't think , I

[00:31:40] Rantum: don't think anyone. Right. Yeah, that's good. Good

[00:31:42] Elbarto Crypto: point. Yeah. So I, I, but then at the other hand, like on the other hand, I, I think, you know, if you have a board ape, you know, if you did get lucky and held on for all this time and you're sitting on, you know, $70,000, , it would be nice, you know, to realize some of these profits or, you know, maybe you have a dog who's going off to college and, and you need to pay tuition.

[00:32:07] Uh, you know, it would be nice to realize maybe the little, these profits, um, yeah,

[00:32:11] Rantum: right. For fractional

[00:32:12] Elbarto Crypto: ownership. So I think it's definitely an un, an untapped area. I, I don't know how it'll work though in terms of UI and, and execut.

[00:32:21] Rantum: what, uh, what, what, what have you been active with in what, in your wallet Recently?

[00:32:27] Elbarto Crypto: What has been my wallet? I, you know, I'm like a, a real, a real defi, uh, degen. Uh, recently I've been, uh, I've been, I was like really bad farms that I've been going into. It's, uh, it's pretty sad. I, I've been trying to figure out recently, you know, some of these like NFT projects that have really gotten sold off.

[00:32:47] there's a lot of work going behind the scenes. So like Rumble Kongs, for example. Um, this was like a project that really, you know, had a lot of hype. Um, so I own a couple Rumble Kongs in, in full transparency. This is a project that got a lot of hype. I think Steph Curry was wearing a Rumble Kong hat at some point.

[00:33:04] Okay. ? Yeah. And like they have people working on it behind the scenes. You know, there are, there are truly people working. They are alive. Um, they are, you know, programming. I'm, I'm gonna check, I'm gonna check the floor

[00:33:15] Rantum: price right now. Here's mine. And the ones that are, they're still busy and haven't left.

[00:33:20] I mean, we know that a lot of these are going, they're going to zero. And, um, it is. You know, finding the ones that are still busy and gonna keep building through, you know, through the bear. That's, that's, uh, it's key if you can find them .

[00:33:34] Elbarto Crypto: Right, exactly. So, yeah, you know, I'm kind of looking at that area a little bit.

[00:33:38] I've been trying to like, you know, look at more like these illiquid art blocks, collections. Yeah, . I just don't know right now like what the best way. I don't know what the best way to display them or engage with like other people or like really engage with the artists is yet. So I'm still trying to like, I also just don't want to get ripped off by like buying, you know, something for like four E and then being like, what have I done, like

[00:34:02] Rantum: immediately?

[00:34:02] Right. But I mean, there's some, there are some very pricey, very illiquid pieces in, uh, in our blocks. You know, there's definitely some, some grape buys. Uh, can be difficult to tell the difference. And, you know, that that's the beauty of NFTs, right? , yeah, exactly.

[00:34:18] Elbarto Crypto: Um, you know, I, I respect what the pudgy team is doing.

[00:34:20] Uh, I don't own any poos maybe, you know? Yeah.

[00:34:24] Rantum: That is impressive. They're, they're the strength of the holders. The D Gen score is high, huh? Absolutely.

[00:34:29] Elbarto Crypto: Yeah. And they're really, uh, they're really executing there. So, um, you know, shout out to the team there for. Putting something good together. So yeah, that's like, I've been really trying to think about like, you know, what projects are still actively being worked on and, and sort of like, can you scoop up any, any good values?

[00:34:46] Uh, yeah. And like, you have to like what it is, right? I mean, like, I don't, like if I buy something I, you know, honestly, like I don't wanna sell it. I, I, uh, You know, I'll just hold on

[00:34:55] forever.

[00:34:56] Rantum: That's the best way, right? Just by what you, what you actually want to own .

[00:34:59] Elbarto Crypto: Yeah, exactly. Yeah. That way if it goes zero, you feel a little less bad.

[00:35:04] So

[00:35:04] Rantum: yeah. Hey, we all have at least a few of those, right? Oh yeah. Oh yeah. Awesome. Uh, so where can people find you and, uh,

[00:35:12] Elbarto Crypto: You. Yeah. You can find a very inactive crypto account starting today at El barto underscore crypto on Twitter. Uh, I'll be back in February. Don't worry.

[00:35:22] Rantum: You do have a list of, uh, research for I, you know, people will wanna get some homework.

[00:35:25] There's, there's some .

[00:35:27] Elbarto Crypto: Yeah. If you feel like you have nothing to do over the, over the break and, uh, you wanna. do some NFT research. I have plenty of projects for people to hand out. So Is the baby here already? No. No. It, it's coming soon. Yeah. All right. Well,

[00:35:42] Rantum: so very exciting. That's awesome. Um, anything else you wanna add before we sign off here?

[00:35:47] Elbarto Crypto: You know, I would add if anyone has any advice on having a bo a dog stop barking in a shadow, like please reach out to me because, uh, it's been a, a constant thorn on my side. He's a great, he's a great pal and a great farmer, so welcome to you.

[00:36:01] Rantum: That shadow's throwing him. Awesome. Well, thank you so much Alberto Crypto.

[00:36:04] This is awesome. First interview. Uh, very excited, and we'll have to talk again soon.

[00:36:10] Elbarto Crypto: Thank you, sir. Thank you, sir. All right.

 

2022 In Review - How Did Predictions Do? | Project: Etch by Deca

Theme: What we got wrong? Look back at predictions and the year in NFTs

 

How did our predictions pan out? 

• Coinbase NFT

• Superbowl

• Games

• Music

• World cup

• NFT tracking tool value (NFTs as SAS)

• Don’t trust solana

• The MERGE will boost the market

• Project: Etch by Deca 

• NFT News

• • Justin Bieber, Jimmy Fallon Among Celebrities Sued Over BAYC Endorsements 
  • O.G. Audio App Winamp Adds Ethereum and Polygon Music NFT Support - Decrypt 
  • NFT Minting Goes Stratospheric on Sound.xyz 
  • Apple Plans to Allow External iOS Apps in Potential Boon for Crypto, NFTs - Decrypt 

 

 

Rough Transcript:

[00:00:00] today on all about affordable NFTs, what went wrong, celebrated our wins, right? What went wrong? What went so wrong? We're looking back at our predictions, uh, and, and the year in NFTs a little bit. . I think this is what I like about the episode we did a little while back that just reviewed every single project that we recommended and just held up the mirror, and this is kind of doing that, but with what we were speculating about around this time last year, December, January, periods of time, and seeing how it either held up or didn't.

[00:01:16] Uh, gosh. Anything new in your wallet? What's going on for, for you? Right.

[00:01:21] Uh, no, nothing too new in my wallet. Recently, I talked a bit about that edge project. Haven't done much, uh, much else since then. Um, You know, I guess, uh, you know, looking at, uh, looking at moving some of the, the, the mistakes that I've made, you know, those, uh, end of year, uh, tax harvest, tax loss harvesting, so working on that a bit, but that's, uh, you know, that's not that exciting to talk about the, the lose the losses, right?

[00:01:50] No, but I guess that's, that's true. I've also been doing a lot of, moving of, of pieces that I had. I, I think it's super important because, you know, I, I look back and there were moments where, Liquidating staked coins to buy NFTs. And like both went down, but at the moment of liquidation, those coins were actually worth quite a bit.

[00:02:08] So really spend some time doing that because frankly, it's locked on the blockchain and if you don't do it now, you're gonna kick yourself to earn tax time. So, you know, go back, uh, and, and really, uh, look through those, look through those losses. And also think about any moments, like, I'm, I'm thinking back to my Peg Axi stuff where I was like, you know, VIS was pumping that was like that, like fake coin.

[00:02:30] these like, uh, flying horses threw off and I couldn't believe how much money he was coming in. Sorry, which, which fake coin from which horses? Which fake coin? This is from Pey? Uh, not, uh, no, no. Not my, my very legitimate horse racing. Um, on Zed, which I love. But no, but like, here's the thing. Those coins were worth a lot.

[00:02:50] I was getting them, I was selling them, but then I was like half of those money I was using to buy more stupid flying horses. Um, and so the part I saved, I don't regret, but the part I spent technically, those were taxable events. I bought an asset then, then went down. So just play that out in your mind as you're like doing your your N F T harvest.

[00:03:09] Yeah, we talked about this a bit more on a recent episode, so if you didn't give that a listen, you know, because it said taxes in the, the title, um, might wanna go back and just give it a, a quick listen as you're, uh, getting towards the end of the year here. Yeah, yeah. I, that's true. All right. What have we got in the news?

[00:03:27] Oh, right. So, man, we talked about some of the. It's the big grifts that were happening in. Man, this looks a bit , a bit like some of the ones, some of the items that we talked about in that last episode. But there are, uh, people coming after Justin Bieber, Jimmy Fallon, uh, for their basey, the, their board ape endorsements.

[00:03:49] I'm not saying that those are related, but man, this does, uh, it doesn't look great and it, there were a lot of suspicions at the time of, you know, how much they were maybe getting paid. , you know, that wasn't on the chain. Uh, and that they were being, these were basically being purchased by Moon Pay on behalf of celebrities.

[00:04:06] So it's not entirely clear how much, uh, the celebrities were paid versus getting paid. And we may see, uh, some of that information come to light with these lawsuits. Yep, yep. There's a big difference, right? If you're getting paid to sponsor a thing, you're need to disclose. , if we were running ads, if we were like, we were also try to be clear on, you know, this podcast when we talk about, oh, like I, you know, I make my jokes about Polygon, but yes, I hold polygon.

[00:04:35] Like when we own a project, we, like I hold this project. You also have to say if that project was given to you or paid for by someone else, because there's an assumption from the market that you chose to freely of your own will go and, and buy a thing versus, no, no, I've been just paid. Paid to drink smart water.

[00:04:53] Okay. That's. But you need to disclose that. And I think because of this like gray area of like, oh, it's an N F D, like it's, you know, totally on the blockchain, no one will tell like, if you're doing something wrong and you know it, like people are gonna find out , like, especially if you're a celebrity. Uh, I'm here, I'm here for those, uh, for those investigations.

[00:05:14] I'm here for that. Yeah, I'm, I'm very curious to see what happens with those. Some get some, uh, some juicy information on those deals. All right. We get the next one, man. Actually, you called this. You freaking called this without. I never even saw it in the news. You were always calling this though, so you're good to have a I told you so.

[00:05:32] Woo. Nice. . You get no money, no fanfare. Yeah. , I afraid. Oba. A whole bunch of smugness. You can be so smug. Yeah. Maybe. Yeah. , smug mug. . Oh man. So we've got another old, you know, early internet era, nineties internet era, uh, company making it a comeback. I guess some of those. Os, uh, like Limewire and some of the others, but this one we've got Win amp coming back with a N F T with a music player that will support NFTs music.

[00:06:05] NFTs. I actually think this is kind of cool idea. I don't know how to play music NFTs other than going to a website, and I know that that's not very, it's just not a way that I'm gonna ever listen to a collection of any, or, uh, listen to my music. It's having to go to a website for. Specific song that I wanna listen to.

[00:06:24] So I haven't tried this out. I like the idea of actually being able to bring all of your collected music into one interface and play it all there. I can't, I, I was actually a little surprised to hear that Win Amp was, was around it all. Not clear to me if this is an original, you know, original, uh, company that's still working on this, or if it's been bought out.

[00:06:47] But, eh, I used this project for, for years, back in the day. , there's something romantic about this. I, I, I was so ready to hate this, and I have to take a step back and say, yeah, I'm from also like an era where I would play a record. I would play a cassette, I'd play a cd, but I could, you know, in those moments, you'd be showing to the audience or to whomever, like especially if you're playing a record, like I have that record.

[00:07:14] And for NFT music, a lot of it in your mind, you're like, oh, just play it on Spotify. You're like, that doesn't exist on Spotify. Yes, you could right click save, dump it into a file, push it onto a server, connect that server to your spot, like it gets a bit of headachy. But then there's also this like, oh, if you're playing it for friends or doing something like that, I could see it whole like device standalone to be like, in the same way that we're talking about digital picture frames, my mind immediately goes to, you know, it's an N F T player and it could have N FFC functionality so that if somebody else were.

[00:07:48] They could be like, Hey, here's my album that I have. Like Oh cool. Just makes it a touch. More romantic. An I R L sense. Yeah, it does. And I, you know, I think they, yeah. They're onto something here. You know, we've , I dunno, this next one actually is, is maybe somewhat related. Uh, the SOUND XYZ platform has seen some, some impressive usage recently.

[00:08:10] Uh, that's the, the title here is say that the NFT Minting goes Stratospheric on sound. . So this is, you know, I know what that, I'm not sure if I'd quite go that far, but, uh, you know, we do see. The, it's getting used. There are more people, uh, starting to get into, into music NFTs. Um, you know, it's something that actually I, well think, we'll maybe touch on this later, uh, that, you know, I had talked about early in the year, and for the most part I would say that we haven't seen music NFTs be a major, uh, Major impact on the N F T marketplace, um, overall this year.

[00:08:45] And there's a lot still happening. Uh, you see a lot of new marketplaces, a lot of new tools being introduced for, for music creators. And you know, like to see that, that there are mints, uh, happening, even if it's not maybe, uh, you know, the, on everyone's, you know, the, you know, it's not the front page of open sea or anything like that, but there's a lot happening here.

[00:09:06] But still alive. And they, uh, share some of their data. They've onboarded 240 artists, dropped 709 tracks, reached 6,200 unique collectors, minted 33,000 NFTs and paid 4 million directly to artists. I think that's, you know, pretty great. I think on the, the million, 4 million to artists, uh, that's something pretty impressive because, you know, it takes a whole lot on Spotify to like earn enough 0.0000.

[00:09:34] You know, units of money to actually get there. So, uh, I like that final stat. I'm less impressed actually by, uh, by the mint volume there, you know, in terms of 33,000, you know, like that's like, you know, a, a Tuesday on, um, Tuesday and Open Sea. Hey, I mean, Reddit's, uh, certainly putting up much bigger minting numbers than that, but yeah, 4 million directly to artists.

[00:10:00] I think there is something there. You know, as you said, the, the, the royalty structure in streaming music is not very good at all for, for artists, and I think that there's a, a real, uh, potential to solve, uh, some, some problems there anyway. Oh man, what a reversal here. So Apple, we talked about Apple a couple weeks ago in that they were going to impose a 30% tax on all transfers, including going, uh, trying to get a cut of gas fees, Ethereum gas fees for, for any transfer if even a from of a, of an N F T from one wallet to another.

[00:10:38] Now, uh, seems like they, they maybe are, are listening to feed. Seems unlikely that Apple would do that. But, uh, I suppose if they actually do once in a while, listen to what people have to say and they have reversed that they're going to allow, uh, external, um, apps in that could bring in crypto and NFTs. I, I'm quite surprised by this, the idea that they will allow external with apps, This is, I mean, they've never allowed external apps at all.

[00:11:05] So I think there is some something here, like there probably, there seems to be a distinction of what they'll allow in the, in the app store. These are, if you, early on there, there are many features that were not available on on iPhones and there are a lot of, uh, and he would jailbreak them, definitely used to do that, to even able to get a lot of other features that, uh, from apps that weren't allowed.

[00:11:28] So I think it'll be somewhat like, That you'll be side loading these. Um, most Android phones also do this where you don't necessarily have to get an app through the official play, the Google Play Store, you can get them from unofficial, um, you can get an unofficial app. Uh, but it's sort of a use at your own risk, uh, mentality on those from, from Google, from Apple, I assume, with this one as well.

[00:11:54] So, uh, Hey, I think this is better. You know, I think they maybe realize that there's , you know, that's a potential huge loss of, of a cust of customers if there's really no option to, to interact with, with crypto outside of paying 30%, which is, you know, just completely unfeasible. So what I'm reading, and obviously the news is updating by the, by the day here is.

[00:12:18] They're preparing to open iOS competing app stores and that N F T component only for the European market, but not the American market. I missed that part. . Maybe I'm reading this wrong, but uh, as I go down that article, like, uh, oh yeah. Mark Irman writing for the Bloomberg says Apple is preparing to do this.

[00:12:42] So it wasn't clear to me if I, I see that they're doing it to comply with those, if I've read it as they were, that was sort of the impetus. But not that it would be different for the two stores, but that is possible that they would act. Yeah, that it could just be that they allow it where they have to and, uh, and not allow it in the us.

[00:13:05] Yeah, this isn't, I'm not dancing, I'm not dancing yet in terms of this being like, oh my God, everything's gonna change. I'm not heading back to Apple with my phone, but also choice anytime soon. . No, no, no. Uh, also though, like just as a reminder is technically impossible to charge a 30% fee of gas because that would change the transaction amount, which would change the gas, which would change the transaction.

[00:13:33] It is a recursive loop that doesn't end a snake eating itself if you try to take it in Ethereum. But if you just said you try to take it in the actual transaction to it, if we're going to just say, well that was $12 and 38 cents in gas, we're going to charge you 30% on your Fiat Apple Pay connected credit card or whatever.

[00:13:53] Um, , I'm sure they'd be happy to do that and, and send you the accounting for it too. Figured the way to do it, I guess. Yeah. , but absurd. Absurd.

[00:14:04] Okay. I think, I think you talk about the, the project Etched by Deca. I know you were excited about it on the last episode. I've actually minted one of these and I, I think it's like pretty cool. So here's my, like, layman's understanding of this. Like I connected my wallet, I. It looked through my NFTs and said, Hey, take one of these and then shove it through this algorithm that makes it into this cool etch, which is like, you know, uh, obviously a generative art piece, circular multiple colors.

[00:14:38] It looks like one of those, like, uh, Steno grafts. I'm pronouncing it wrong, but like, you know, where you have those like various designs where the pencil goes around in a circle? In a circle and, uh, it's a good looking thing. I guess I don't fully understand it. Maybe you can explain a bit more. Yeah. Uh, I could try to, I know that it's a, it's a experimental project from Deca, as we talked about.

[00:15:01] And, and Matt Cain. And Matt Cain is the, uh, he's a very, one of the earlies. OG crypto artist. He's been around the space for a long time. He's, uh, one of the early, uh, super rare artists, has a lot of pieces there, um, that, um, go for a, a very premium price. He's also the artist behind the Gazers Arc Blocks collection that, um, I think is now at something like a 35 eighth floor.

[00:15:26] Um, and it's a very interesting collection. He's a. Big time in the big time coder in the way he goes about his art. Um, those pieces, the, the Gazers collection changes over time in response to the moon phase. Um, and this project is definitely experimenting with his, with his coding and bringing in, uh, bringing in.

[00:15:45] The, your own bringing in collections or pieces from your own N F T collection and then combining it with, um, with these works as just like, as George was saying, I think it's a stenograph maybe, is that ? I dunno the exact word wrong. I love somewhere someone was like, they don't know the answer. It's stenograph.

[00:16:04] So then, yeah, then you've got the idea here is that you can etch these words onto the blockchain. You know, he's saying that we don't actually get words typically etched on the blockchain. So you, when you, you have to add text into this, um, in order to sort of commemorate, them to, to remember these words on, on the blockchain.

[00:16:23] I don't know where this project. obviously in the future. I think, you know, there's a lot of potential for, you know, maybe using these to combined in, in further ways or even, you know, to string different words together. Um, you know, I have no idea what may play out here. I would just, I'd be surprised if this were the end of it.

[00:16:43] Um, other projects that they, I mean, their DECA project is an ongoing, um, Just an ongoing creative project where you, they keep adding new levels that you can get to with points. Um, I think they, well, they've done, they've done a piece with, uh, with X copy in the past, um, that has given a holders access to, or given them, I, I think, I mean access, but has given raffle, um, Raffle entry, uh, two.

[00:17:13] And I, you know, there, I just think that there's a, a good chance that they will, they will end up doing more with this. So probably worth minting, uh, one at least. And, you know, maybe a couple if you want to experiment with, uh, you know, putting maybe a phrase together. Yeah. I put my, one of my favorite, my noun, uh, my noun 83 in there, and I minted that out.

[00:17:34] I think it's worth it for mint price, uh, and has upside to get to play with some tech. Um, yeah, I like this project. Uh, so it's deca.art. Yeah. Show us, show us your, your, your cool ideas in the, the discord. You know, show us the words that you came up with and, you know, just, just don't say anything too bad about us in, in, in the description.

[00:17:52] Hello. That's right cuz whatever you put in the description is actually minted there. Worst idea ever. Terrible. It's actually kind of interesting. Um, Alrighty. So the theme, what we get wrong, so we're looking at back, you know, we scanned through our, what we were excited about, kind of podcasts and what was top of mind.

[00:18:13] So last year around this time, we were very excited about. Coinbase, n f t. It was like when, when we actually have an episode when Coinbase, n f t as though it were like some magical event that would automatically turn all of the users of Coinbase into fervent rabid N F T monsters. Uh, how did that play out, Andrew?

[00:18:38] Ah, I mean, Coinbase NFT is out , um, it's. Uh, maybe it's maybe not as big of an impact as we thought. Is that, does anybody understating it? ? I'd put it at the top because I think it's the number one thing we got wrong. I learned a lot actually. Whenever my expectation versus reality is like that high a delta, it really helps me like look back and be like, like, what don't I understand?

[00:19:06] And I. From that point, I, I think was too much in the world of like how excited I just was about the ownership of NFTs. And I thought when other people got this opportunity, my assumption was that it was a barrier to entry. Like it was some sort of like, oh, too hard to cross into this ability to purchase things and Coinbase will make it easy.

[00:19:28] And it's, it's not about ease of purchase necessarily, uh, or at least the way they. . Um, it's really about the different ways that functionality has to be built into things. So, you know, I, uh, I had this assumed thing that would be automatically adopted by everyone has of the market, and instead it was like a dead feature out of the door.

[00:19:48] Yeah, I think there was maybe more self selection than we realized in the people who were interested in NFTs. They had largely already found their way to. To self custody to to use meta mask. Yeah, largely meta mask. , maybe some other , some other, you know, extensions, you know, and at the end of the day, you know, we're we're saying it was a huge hurdle and there's a lot of people, if you've really wanted to get into it, it's not as, as, you know, people listening to this, you know, you know that you can get into NFTs and, um, it's not the most technically challenging thing if you, if you really want to do it.

[00:20:25] So, you know, the idea that maybe that was the biggest hindrance, um, to holding. You know, to holding people back, you know, that were, were into crypto, but didn't want to, to get into, or that, that wanted to get into NFTs and just didn't have access to it. Yeah, I think we made a big mistake there and it's definitely something I've tried to keep in mind.

[00:20:45] you know, as, as new projects have come out, new products are released, . Okay. Another one, sort of a prediction thing we were looking forward to was the Super Bowl. We thought that NFTs would be featured prominently and crypto would be featured prominently. Following onto adoption, what we didn't realize is that one of the biggest advertisers for crypto in the Super Bowl was actually one of the largest, uh, perpetrated Ponzi schemes in recorded history.

[00:21:12] Ftx being the leader out there paying for a lot of place. . And so it actually had the complete inverse effect. Yeah, there was, I mean, we did see a few ads, huh. Um, from some big companies, but yeah, it definitely did not bring people in, in the, yeah. In the end we saw a lot of celebrities pumping N F T or probably crypto, that's not looking so good anymore.

[00:21:36] It definitely, again, you know, I think we're, it was the idea that, you know, More exposure, just gonna bring people in. And you know, we had already, we had seen that wave. I think that wasn't what was going to do it, man. That's, uh, that was a big miss. I think it's surprising that, uh, we're still seeing some companies talk about trying to do a another, uh, or to.

[00:21:59] Invest in a Super Bowl ad, um, after we saw a pretty considerable amount spent last year and ooh, I can't imagine that the R ROI has been good on any of the, that money . Yeah. I feel that people are still feeling the rug burn, but we'll see. Uh, okay. Another one, games. We were incredibly bullish. I was leading the charge on this, I'll say like every game.

[00:22:21] I was like, someone's gonna figure this out. Someone's going to. , you know, the next big thing out there. And what happened was there would be hype cycles, and they were far shorter than I realized. Uh, you know, I started this episode talking about like some of the things I'm, I'm selling from Pegasi, which completely imploded, but you know, I, you know, you can look at all pretty much games.

[00:22:45] Even Red Village. We were really excited about it. Just, uh, it wasn't there in terms of being able. Figure out an economic model that sustains right play to earn or play and earn. We were kind of always like, oh, which will, you know, be the thing that the truth is, it doesn't work yet. You know, if the game doesn't start off as fundamentally fun, addicting, something I wanna be a part of.

[00:23:09] uh, you, you, you really have a hard time, I think starting with an N F T first mindset versus a game first. Um, and we haven't seen it in the market. We haven't seen, uh, even the largest ones like Atlas, um, you know, come to fruition in any meaningful way. Yeah. I don't know. What do you see on this? Yeah, I mean, I think there was, I know there's been a ton of investment in different gaming projects and we have not seen the.

[00:23:38] Uh, the adoption that you'd expect at this point? You know, I thought, and I know that there, there, it can take some time. I am hoping that, you know, we still see something. However, I think we've talked about this before. I think that there's a strong, a stronger chance that we get a simple mobile app type of game that's.

[00:23:57] You know, maybe not all that impressive. And it is just what, you know, it gets a lot of users and, and you slowly, or people don't even realize that it's happening. Um, and maybe isn't this, this nf this huge invested, uh, investment, um, N F T project that everybody's paying attention to. You know, I think maybe that's too obvious and.

[00:24:19] Trying to go about it a little, uh, too head on. Um, you know, I could be wrong, but it feels like there's gonna be a different, a different tactic that ends up working here that, that maybe, uh, makes better use of the blockchain or integrates with a blockchain in ways that we beyond just owning an asset in a game.

[00:24:39] Yeah, I mean, for all that said, you know, AXI Infinity for the past seven days has done 364 Eth Ethan. , like that's real, right? 37,000 sales, like people are still playing as Yeah. There's still interest. There's still, I mean, I think that's the thing, you know, you're seeing that there's still interest, there's still people there and you, maybe we are out of some of the hype cycles.

[00:25:00] You know, the, the prices have certainly come down, but that's true everywhere. And uh, uh, there was a ton of investment. As I said. I think that probably, uh, Increase the, the value of some of these with the, the expectations that there was going to be things come, you know, releases coming right away and, and more investment and, and more, uh, more public players coming into the space.

[00:25:23] And, uh, you know, gets, gets back to what we've said. You know, it's, this is a. We haven't seen a sudden surge. This is more of a slow growth, uh, type of, uh, at least right now, that's where we are in, in, in the crypto space in general. I mean, we are not at the stage of seeing, uh, you know, just a, a surge of people come in and.

[00:25:43] I think that's gonna be true with the games too. We're gonna have things that are crypto native, that, that maybe get some, get some, get some buzz in the crypto area first and then hopefully can, you know, lead to things that, that get more mass adoption. I don't know if those are actually the same type of game though.

[00:25:58] Yeah, yeah. It's a good question. Uh, another one we were, I think you, so you, you were a bit more excited about this than I music, you know, looking at the opportunity for music, NFTs, I mean, on the heels of hearing sound, X, y, z calling, calling their numbers stratospheric, which, you know, I, I don't know, 30, 33,000, I dunno that I would say stratospheric, but hey, but you know, we got win amp.

[00:26:24] Um, you know, that's what's, you know, no, I'm not gonna take this as a win. But, you know, I, I do think there's still something more coming here. There is a lot of investment as said, there are. There is real usage. It's relatively small, and the fact that there is a problem with, with how music is distributed and, and paid for in the, like the digital distribution of, of music is, is broken.

[00:26:49] I think there is, you know, potential here because of that more so than than industries where you see it working pretty well. Um, you know, there's a bigger opportunity. . Yeah. I think it's got a more near term success probability because you're talking about artists with true fans, and those are two critical ingredients, I think, to generating that type of value, um, and utility.

[00:27:14] It can also, you could imagine, blend, uh, blend into IRL events pretty elegantly. Um, I think there's tremendous opportunity there. I think it's just, uh, Got a bit more road, thank goodness, get to that market that Taylor Swift did not get involved with ftx. There, there there's a story that they had tried to sign here to a hundred million deal, but if they had actually done, I don't know, maybe it would've turns out that would've saved them or something.

[00:27:41] You know, they, they would've handled the ticket thing and just pocketed all that money. , yes. Yeah. The joke that I was like, Aaron is just like, I mean, It's, uh, I'm very impressed. I, I keep waiting to hear any sort of statement from, uh, Taylor Swift's team, but like what, um, what remarkable presence of awareness to be like, why, eh, I don't like it.

[00:28:04] Something smelled like, cuz a hundred million dollars is, yeah. Oh yeah. I mean, for anyone, a lot of money. I don't care who you. . And so something must have thrown off an alarm bell. But the joke of the matter is that Sam made a calculation, right? Like this is a smart human, that he would've just taken all of the fans money, who would've obviously wanted to buy NFTs on their platform and paid her with it, and then kept everything left over, right?

[00:28:31] Like, can you make more money? Right? Like that's essentially what you're doing. You're buying someone's celebrity, monetizing. taking the people's money who think that they're saving money and putting money into an investment account or savings account or stablecoin on your platform, buying an n f e on your platform, uh, and you're just taking and paying that person and you can just keep repeating that again and again, which is very interesting.

[00:28:53] Um, and it's destructive force in it. So that did make me think the other part of this, you know, we're talking about the music distribution and how digital music is played, and we also know. The ticketing industry is very broken, and that's where I think you could see some of these come together. And I know that there's a problem with, with the access to venues, and a lot of the artists that we're talking about on, on these, you know, that are producing on sound at X z I don't think are, are at the level of, of needing to worry about that, you know, the, the larger venues at this point, you know, maybe this does need to start from a, you know, a, a more grounds up kind of, of, of manner.

[00:29:30] And there's something to, to, to combining those, giving access to your biggest fans, giving them the option to buy tickets ahead of others, and you really understand who the fans are. Not giving access because they're a, you know, a Capital One Gold, whatever member, you know, that doesn't show that you're a, a fan, you know, if you, if you have a, yeah, you can have that n ft.

[00:29:49] You, I mean, yeah, maybe you bought the N F T, but you've at least had to do something to. To, to show you're a fan and if you're, you know, if you've been along for a long time, you've got that NFT cheap, you know, at when before they were, before they were anything. And it, it's almost like, yeah, I, I knew the band before they were played, you know, before they made it to the top 40, whatever, you know, that kind of the idea before they blew up and, and you can prove it.

[00:30:12] Yeah. And, and those artists, those artists are there now. So maybe we do an episode where we look at Sound X, y, Z and be like, are there. Are there upsides there? Can we play in that? Um, or is, oh boy, that's a tough one. No one of many, right? It's really hard. I'm like, I like listening to music, but I'm sure someone can do it.

[00:30:30] Pacemaker or someone. Yes, someone can do it. Uh, all right, I like that music tee. Uh, I can go quickly through this one. World Cup. , I thought, uh, the number one attentive sporting event in the world combined with NFTs and soccer would do something. It didn't. Um, new coins were sort of created fan coins. Uh, there's definitely people making money, but the people that are making money are the ones that are launching projects, not holding onto projects and flipping.

[00:30:56] I've seen, yeah, I think they're running some those riff play. See last episode. What do you need? A major event with attention. Uh, yeah. So not, not much there. If you were gonna make money, you would've done stupid soccer balls based on the country and seen how many, like, go and do some incentive there, like it, um, a nothing burger.

[00:31:20] And so a thing that I'm gonna realize similar to Coinbase and Super Bowl. is that future event is already priced into whatever asset you're looking at, um, in many ways, uh, because the new attention is not bringing new customers at a level that's gonna move the price in any substantive way. And that's what I'm seeing.

[00:31:42] All right. Uh, another one. We were very bullish on N F T tracking tools, um, and NFTs and sas, and we're like, oh, despite our own reservations, The SaaS. Yeah, no, we pointed out the problem and then we still, I mean, you know, I still like my wagni, uh, wagni tool, but like, I didn't need it, use it enough that it's been worth it, but it's not the value of, of the, the NFT itself is certainly not worth it.

[00:32:08] Yeah, no. Um, and so NFTs is SaaS, um, don't really work. And when we say that, we just mean when you buy this subscription access to some software. that requires ongoing maintenance, but you just have a one-time fee forever, like very clearly, like doesn't necessarily work. Um, anyway, we didn't see the value there.

[00:32:28] Um, how about this one? We had a general, uh, shade against Solana and like not trusting Solana NFTs and things on there. Uh, we did, Hey, we had an open mind. We had an op. I like that about us. We had an open mind. We did dabble on there. We did play on there. Um, but how, how do you feel like this turned. In terms of our prediction, oh man, pat and I, pat and ourselves on the back here.

[00:32:52] Right. We have stayed away from that. Yeah. It's a bit of a, um, you know, I think it is one that was easy to get caught up in. And look, it's not that like everything else has been perfect, but that has had risk from the start. You know, when you don't have access, some of the time it's as good as like, , I mean essentially never.

[00:33:12] Um, so I, that always scared me, the downtime over there and, whew, I'm glad to, to not be involved in that ecosystem. My fear was also around the percent that investors held and would be dumping on the market. Mm-hmm. . And again, if you are paying a price for a thing in that currency, and then, I don't know, let's say a bunch of investors are looking to dump their bags on you as quickly as.

[00:33:38] Possible gonna do it. Uh, that's gonna have a very, very negative impact on, um, on the price. Um, you know, and then like the SPF debacle dropped that price from 30 from, it was dancing in the thirties for a while down to less than half. So it was dancing in like $12 range. But, uh, a year ago, do you wanna play the game, Andrew?

[00:33:59] Guess that price? What was Solana at? Well, a year ago it was Solana at. . Yeah. A year ago, if we were like, buy some one OFTs, that's the place to be. One 30. You plan at home. Gotta get a higher number. A little higher than one 30. Keep going. One 60, keep going. Uhoh. Two 30, . There we go. It got up to 1 97 so like, oh boy, just take a pause.

[00:34:26] Right? Like this time last year we were throwing shade and so on it cuz we were saying, I don't know if I trust the underlying asset. Now, yes, you can throw eggs at Ethereum all you want, but it sure as shit didn't do this type of drop where it goes from 1 97 down to a. $14. What happens to that N F T? You bought a 200, remember that episode?

[00:34:46] You did. What is, you know, when a a hundred percent gain is in a gain? This is exactly what we were talking about. Yeah. Oh, my N F T went up three x in value. I'm sorry, the coin you were on went down 99% in value. What does that look like? Well dig aloe. Look at Solana. Well, that's what that looks like.

[00:35:02] That's what that looks like. So, um, you know, you're, you're picking up pennies in front of a steamroller if you're trying to flip on a, on a platform that's got that much hype. Um, so the things we've got wrong, I will take it. But, um, you know, I'm, I'm, I'm pretty, pretty bullish on that one. I think we, uh, hopefully guided somebody away.

[00:35:23] Decisions like that. All right. Uh, and we were, you know, related here. We nailed this. I love, we're laughing on this. We nailed it. did we, we really focused on, on the eth the Ethereum network. We did. Uh, so we have in here, the merge will boost the market. And this was sort of a broad sentiment that I think we had moving in the air.

[00:35:46] I can't wait for the merge. It was, it was gonna come out in June, then it was gonna come back, whatever. Uh, No, you don't think, has that not I haven't really looked at, no, no, you, no. I've been holding off and looking at the price cuz you know I'm gonna be untake and I didn't really wanna look at the price until I could Untake so.

[00:36:07] We're not, not doing so good. Not so hot . No, it's uh, it's not right. Like, so the merge, here's what I will say. I'm excited that the NFTs that I own on Ethereum are green by the sort of measurement of energy storage usage. Ah, not in the green. I like that. Uh, they're not in the green . They are green, but not the way I kind of wish they were.

[00:36:32] Right. So the market didn't respond. It didn't. , uh, the type of, um, I guess hype and adoption of the Ethereum network. You know, it's just people still building. So, uh, even when the event impacts the underlying technology of the thing, making it more stable and secure. Uh, and by the way, ultrasound money, because guess what Ethereum is doing, the operation of it, selling block space is technically reducing the overall supply.

[00:37:03] you know, month by month, uh, because of the new way that staking works, uh, which is pretty cool. Uh, but no one cares. Uh, no one cares about that. And we thought they would, they don't . Oh, that, yeah, it was, you know, glad that it was, uh, a relative non-event because if it had, it had a potential to, to really go bad if it didn't go smoothly.

[00:37:26] So I guess that's good, but it definitely was not a catalyst for, for, uh, the market in any way. ? Nope, Nope. Thought it would be. So I think here's a big takeaway. Like, um, the news is already priced in there. It is. Don't get excited about a thing in the future. The news is already priced in. Um, . I would, I would say playing in the right areas makes a lot of sense.

[00:37:54] So like, in a macro sense, uh, I still like the idea of playing in the, the domain of music. I, I am very wary about games. I have learned a lot about the game dynamics that don't work. I, I'm nervous about like, going all in on any other game. Um, so I'm probably not doing that anytime. We may have to get into another, maybe we'll have to get another predictions for what's coming, but I guess wanna go through predictions.

[00:38:19] I'm sorry. We'll do a prediction episode so we could be really wrong. Again, , I would definitely steer away from, from any of the ideas that any a signal event would be a, a big catalyst for either price or participation in, in NFTs. You know, that's, I, I've, everyone is not coming. That's the banner. Everyone is not coming.

[00:38:41] It's gonna be a trick. . Yeah. I mean hopefully incoming, you know, hopefully it's a , I think. I'm kidding. Not a slow trickle out . Yeah, yeah, yeah. I didn't say which way. Uh, alright, well there we have it. Um, I think maybe, we'll, we'll go for our predictions episodes. If, if we feel, uh, if we feel motivated, we'll come up with some stuff.

[00:39:05] Yeah. We're really, we're coming up to the end of the year again, man. It's, uh, yeah, definitely been a different year than, than what a, than what either of us thought it would be. And I think than, than what most people thought it would be. Man. Have you look at back at just the crypto has been dominated by, Uh, just scammer after scammer and grifter and, uh, all looking like it was the legit stuff.

[00:39:28] And man, I'm, I'm ready for, ready for something new. . Yeah, I, um, I, I think if you survive, like you weren't, you certainly weren't early when you were coming in to 2020 ones like hot market. But if you're coming in now and you've survived this, like you are officially. Yeah, you're official og. I think if you've survived this market and are still interested in doing this and, and experimenting hurting stripes, whether or not that's rewarded, who knows?

[00:39:55] Yeah. You have stripes. I'll mint them for you at the low, low price of how much you willing to pay. Yeah. . . Alrighty. Yeah. Uh, hey, if you haven't gotten us a gift already, leave us a review on whatever player. Are you happening listening. and uh, yeah, we'll probably have another episode, but in case we don't, uh, have a happy holidays.

Art of the Steal - How to Create the PERFECT NFT Grift

Theme: How to run the perfect NFT Grift 

• Extreme anonymity OR Extreme Celebrity with attention
• Us vs them
• 10k or less batch (so you can control high % of assets)
• Credible NFT whale or influencer
• Over subscribed WL - must sell out
• High creator fee, 10% or more
• Proof of winners, Ponzi round of wash trading on rare items
• Hyped moment in the future that is exciting and nonspecific
• Tokens and staking
• Unrevealed art and then passible art
• Outside investment news to the company
• Exclusive social entry
• Nonredeemable Utility events
• Second and third round of NFTS 

• Project: CollectTrumpCards  

• https://opensea.io/collection/trump-digital-trading-cards
   

• NFT News

• • The Block: Magic Eden bolsters gaming support via Polygon NFT minting and trading 
  • The Block: Magic Eden introduces discount and rewards system for marketplace users 
  • Flow Hits New Low After NFT Trading Craters, Dapper Downsizes - Decrypt 
  • MetaMask Mobile Users Can Now Buy ETH Using PayPal - Blockworks  
  • Animoca Brands To Launch PFP NFT Collection: Mocaverse 
  • Donald Trump's 'major announcement' is a cringey line of $99 NFTs — of himself 

Rough Transcript:

[00:00:00] Today on all about affordable NFTs, we're just gonna cover hypothetically how, how you'd run the perfect N F T grift. It's like, how would you do it? What are the elements? What would it look like? What would you need? So first off, Andrew, what is, uh, what's going on in your wallet? What's. Oh man. So I playing or I played around Alene.

[00:01:10] Oh, I think it minted a couple. One in my main wallet of this. Uh, well, I don't know, I should get into the maybe next project, next episode. Um, we've talked, look, there's this cool project from Deca. Deca has been doing some cool stuff. Um, they have one from, um, that's. Matt Cain, cool artist called Etch. I've been playing around with it.

[00:01:32] You can MIT these. They're like, I dunno, they're very cheap to mit, but they, you can combine them with, um, with NFTs that you already own and then add words to them. Um, deck has done a, done some interesting projects they definitely work with, with impressive artists. And they come back to these projects to eventually close these things.

[00:01:53] And, um, so I take a look at them. If you're, uh, , you know, I dunno. Maybe I can get into it more another time, but that's something I've been playing with anyway. New in my wallet. . Yeah. Spoiler alert. We may feature it in our next, uh, next episode a bit more. Uh, Daven and Daven have to buy something new. Yeah, they're, they're cool, they're cheap.

[00:02:13] They're, I think they're like oh, oh eight. Nice. All right. I'm happy to say I've, uh, I foamed in, uh, I missed my reserve price because I just fell asleep at the wheel. But I, I foamed in, I got myself one of the, uh, one of the cock punch, uh, little roosters. Uh, after seeing that, uh, Tim Ferris was like legit starting that podcast, launched actual episodes is creating content around it.

[00:02:39] And also, uh, I kind of like was pulled in after I saw that even on his main podcast, he's using his ad. To promote it, uh, which is, you know, is pretty sizable. So if he continues to do that, that ad space just has value in and of itself as an attention. and you know, he's talking to Steven Presfield, the guy wrote that.

[00:03:00] You gonna have to skip six minutes now before I start listening. . Hell. Yep. 17 minutes in, you get 30 seconds of content. Uh, I'm kidding. I'm kidding. It's valuable. It's because people listen to themed into it. Yeah. IED into it. Um, yeah, I just took a look. Those, those, uh, etch pieces are 0.008, which as we, as we look at this right now is about $10.

[00:03:24] Um, so, you know, don't, they're not going to go up a lot in value immediately. This is something that, you know, you can get them for that price. Obviously people are going to just keep getting, uh, new ones. Um, I think the idea would be for what you could potentially do with these, what they might make you eligible for later on, especially if you have a collection.

[00:03:43] Um, so. Cool. Wanted to mention that after, since we had already spoken about them a bit. All right. What news we have? What's that? The news. Let's get her some headlines if we ready. Yeah. Let's you have you have more top line on, uh, on Deca or No? No, I, I think that's, that's it. I think we're. Looking at, uh, we're gonna talk more about, about NFT marketplaces because that's, that's the biggest thing that's going on right now.

[00:04:10] Different marketplaces trying to, you know, whether you're, whether they're adding. Royalties back in, taking away open seat. Can't seem to make up their mind. But Magic Eden has been doing some, some impressive work and they have, uh, now launched, uh, polygon support, um, that's big. They have also introduced a discount and reward system for, for users.

[00:04:32] I mean, I think this is maybe one of the more authentic ways to, to go about it is actually just saying what it is. You know, what they really want to do is, is create a loyalty program for users. We've seen how, uh, how different marketplaces have gone about trying to reward with the different tokens and.

[00:04:53] It's been, it has, you know, the jury's still out on how that's working for Blur. Uh, it's hard to say that it's been super successful for rare in terms of, of staying power in Mar uh, uh, in the, the N F G marketplace, uh, landscape. But, you know, magic, heat, and I think they're, they've got, they've done some things right?

[00:05:15] I can't say. You know, use the, the marketplace much. Um, just looked around and, you know, I have been impressed and I like what, what they're doing here. Well, I think one thing that when we were playing with Magic Eden, I was really impressed with were the analytics and the breakdown of projects and distributions.

[00:05:31] And, you know what, Hmm. I think without Magic Eden, without them in the game open, Would not have that new beta functionality of analytics wouldn't be there. It, it's not, you know, like a monopoly by itself is not about to increase or improve the, the service without, uh, competition. So I am absolutely rooting for Magic Eden to keep pushing the quality of what these platforms should be able to produce.

[00:05:56] All right. And speaking. Marketplaces and, uh, man, we've got flow. The, the, the, the, uh, blockchain that powers the, uh, the top shop marketplace. Um, you know, which has been relatively quiet. We've talked about how that has, they've really failed to make much of a, a comeback after, um, after seeing a lot of attention.

[00:06:19] And now flow is down to about 90 cents. It's the all time low. Um, and I wouldn't , they're also saying the dapper has downsized further, doesn't seem good for this alternative blockchain. And you know, it makes you think like what happens to these. You know, to these assets, do they sort of get lost over time?

[00:06:37] How do you know if it makes you think a little bit more about the underlying asset? You know, if, if people don't care that much about that, what does the, what does the N F T really mean and how much value can it hold? Yeah. Is the N F T value, uh, retained outside of the network or? only as far as it's built on that platform.

[00:07:00] When it comes to something like an N F T on Tezos or Solana, for some reason, it's my feel that like if it's a legit, especially more on Tezos, that like it will have life after as opposed to it's only good in the context of its micro marketplace. Put another way, if I take my LeBron James card out of flow, transfer it somehow, cuz there's a bridge at some.

[00:07:26] it really actually is kind of pointless because it can't be comparatively priced and traded in and amongst its peers in the same way. Does that make sense? Yeah. I think it's maybe a matter of art versus a collectible. Um, when we're talking about a, a piece that's collect, that's created by the artist and, and put on the block that blockchain, I mean, that.

[00:07:49] The, the card, the, the top shot card of LeBron James wasn't created by him. I think if, if there was some something that, you know, was more directly tied, maybe it would have more value. And I think maybe that, I'm not saying that it, it completely, um, holds value, but I think there is something more to it than the collectible that.

[00:08:10] Sort of becomes when the, when the collection becomes less relevant, it's hard for, for any single piece to hold value. And I, I tend to agree with you that there's a, it's a greater chance for the art to, to hold through when, when Tezos has been such a, um, such, such a common place for. For artists to, to go explore, especially explore, especially early artists to jump on because like the fees were low, easy to mint, like, you know, and it seems like it has, it feels like a grunge, it's almost like, it's almost, yeah, it's almost a, you know, the, yeah, the, the, you know, garage, the garage kind of place to go do your work.

[00:08:51] The, I don't know, like a, yeah, grungy kind of, you know, the. , the minor leagues, you know, like the, the place to kind of work it out. And sometimes you like, there's some really incredible work and you, I mean, I'm not saying that everyone's looking to go to e there's some artists that have stuck there and a lot of them, a lot of the artists that have produced great work on Tezos then go on to also do work on, on e Man, you get me excited.

[00:09:15] I wanna go tezo shopping again. I liked the, when we were doing, I liked that string of stuff that we were doing. I, I was. You know, looking back, I'm like rarely embarrassed about the random stuff I pick up on Tezos as opposed to like the random PFPs. When I like look back at our past projects, I'm like, do I really still hold a stupid raccoon?

[00:09:30] Yeah, I do. I like, I'm gonna go burn it somewhere. Right. Yeah. Like I'm not super proud of that. I really like. , you know, some of those artists we picked up. But hold on, here's a, there's like another narrative here on this. Like, I just was curious in your mind, like, what do you think the, uh, like the peak price that flow hit was?

[00:09:47] I wanna like, kind of like test your soft and a, uh, stupid market cap memory. I, you know, I, I don't know, but let's see if, I'm gonna just guess we're probably, uh, I don't know. Did it get $12? Playing at home. Guess a number? Uh, it is higher than $12. Do you wanna guess again? 20 . It is higher than $20. Do you want to guess again?

[00:10:14] Oh, oh, man. Uh, okay. How we doing? People at home? Where should I go? How are you doing? ? Higher, nowhere 40. Yeah, 39.24 and it did that during the fever pitch of April of 2021. Like right when everybody was jumping on to this, like, what a great way to onboard fiat people into NFTs. Look how easy it is to get your money in.

[00:10:43] Come on, everybody. The water's warm. Wow. Ouch. Wow. Yeah. Ouch. Ouch. anyway. . Uh, in other news anyway, you wanna find another way to, uh, depress people? Send your, to use. Well, there's a new way to use your credit card to buy NFTs. You know, you don't have to use dapper or, or flow anymore. Meta mask is now enabling.

[00:11:12] Users to buy NFTs to buy ETH using PayPal. So, you know, if you got your PayPal hooked up to a credit card, hey, it's right there. I mean, it is good to have more onboarding options. You know, I think we're gonna just, I, I, I feel like Beta Mask has been trying to add new features. It feels a bit like they, I mean, they hadn't innovated the.

[00:11:33] on wallet features in, in quite some time, and it feels a bit like they understand there's a lot of competition coming and it, that's the, the most direct experience that people have, uh, with their, their assets. And there's, uh, uh, a lot of potential for improvements. So, um, you know, interesting, it's, it PayPal's already sort of a digital currency.

[00:11:54] We're just linking it to a little bit further, so pretty natural here. Yeah, pretty natural. And I think part of this is being pushed by the fact that Stripe, I think we talked about this in the news, launched its own mm-hmm. Fiat on-Ramp. What is amazing about this is that, well, like right on the heels of us talking about how Flow by Dapper Labs was so good at turning a credit card into flow, like into coins that I would buy the cards with.

[00:12:21] Boom. Done. That functionality is now. Three clicks away on Stripe to embed on your site in the same way that you collect credit card payments, you can now turn those payments into crypto. They have an on-ramp, you know, tested and built. So it's like everybody now has that type of on-ramp capability that, you know, dapper had this like unfair advantage and it was like all about flow.

[00:12:48] This like beautiful user experience, like that's now being adopted. Everyone. I think that's huge. Yeah, it absolutely is huge. And I, I think the man, the ease of of, of being able to transfer these, I mean, to, to buy and, and move these, uh, from, from, uh, fiat currency to, to crypto, I think is going to become the, you know, the, the easier you can make this in your wallet, I think the better for users.

[00:13:14] I think there's just going to be a ton. I a ton of new opportunities to, to go between these two. It has been somewhat of a difficult, uh, process and it's also why I think we've maybe run into problems where we don't really know how much is, is held. You know, how much these, these digital. Dollars, you know, these, these U S D, uh, U S D or denominated currencies.

[00:13:38] We don't really know how much is there, but I think this is a much more direct way to see how, how the flow is going when you, uh, have people d just buying it directly and going into their own account, into their own meta mask, holding it directly rather than, uh, Hey, trust us. We bought it for you. Just, uh, you gotta hold it.

[00:13:55] Yeah, this is the not your keys, not your crypto argument. And I agree when the on-ramp is pushing people to have their own custody, for better or worse, um, we have a system that is safety built into the decentralized nature rather than centralized systems of trust, which have been, um, eroded to the point of non-existence thanks to ftx as example of how quickly you can just steal customer.

[00:14:23] You know, fortunately in other news, he's been arrested finally. Um, but he, um, you know, he is, yeah, actually maybe remembered, hopefully for inoculating the next group of users, uh, that come in, uh, to just frankly not trusting anything with a centralized exchange. A fewer money is in a web two database. It's not.

[00:14:47] Yeah, I mean, uh, it's something that we've, we have touched on before, how much NFTs have done to to, to get more people to use their own wallets, to self custody, to their assets, to be. To be accustomed to using their own wallet. And I think that's part of why, you know, you've seen meta mass become so popular because it was, it was kind of the default.

[00:15:08] It was what was everybody was using and then there was a huge surge and it was all, there's a lot of NFTs and we've seen some, some attempts at, at NFT wallets, and I think now we're understanding of this is, this is really a, a major touchpoint for customers. Is, you know it, how they're using their wallet, especially if you're, if you're providing on and offboarding, uh, or on and off ramp, uh, channels for or for your users.

[00:15:34] And then you start thinking about, you know, if you are the, if you're a bit responsible for, for how the transactions are presented, you know, you need to. You know, you've seen Meta mask improve, how they, uh, present what you're actually signing. Uh, when you sign a transaction. I think we'll start to see some of the, some of the, I don't know, the, the backend features become much less.

[00:15:57] Present and have these, uh, these interfaces become mu much more friendly for users. And then, we'll, on top of that, I think we'll start to see more. Um, I don't know if it would necessarily be through token, uh, just giving token rewards or, you know, what it may be. But I think we will start to see, um, see these wallets and, and start competing much like the, uh, the N F T marketplaces.

[00:16:21] Uh, Yeah, I'm embarrassed. I'm looking at the buy options in my, like meta mask right now. I don't see it. I see Coinbase pay, uh, transact moon pay wire. I guess they're rolling it out soon. It's an announcement, so I have, I have yet to use it.

[00:16:42] I got the same, I've got no secret hidden features yet either, so yeah, I'll have to wait and see when that actually goes live. , oh man. Okay. Oh, wait. Next we've got, we got ANCA Brands. They're launching their own ppf, P N F T Collection Mind Mocha Brands, you, they own a piece of just about every. Gaming, N F T Company, um, seem to be invested in everything and I, I, you know, I guess looking to, to raise , raise some more funds, uh, or I mean, release a P F P N F T collection.

[00:17:17] Sure, go for it. Like, I don't know if now is the best time, but Right. Who knows? It's the way, it feels a bit like they're just, I'm trying to raise some more money, but hey, you know, I hope this works from, uh, definitely not something that we are recommending at this, uh, as our feature project because George has a great one for us.

[00:17:38] This would've been a gem like last year, cuz each one it says, I'm like reading it. Well open up the utility called realm. Utility realm, huh? Well, yeah. Represent a collection of core pillar. . Um, metaverse. Uh, metaverse. Buzzword. Buzzword. Buzzword. Grow community. Yeah. A year ago. Benefits member benefit. This would've been a plus a year ago.

[00:18:00] Oh. Play through games. Good game and game assets. This is buzzword bingo. I think it's. Solid . Uh, anyway, uh, yeah, I have , I have an affordable project for you. Um, so, uh, announced, I think it was, you know, around 12 December 14th, maybe I forget exactly the date, but you two can now own a Donald Trump collectible card.

[00:18:28] That's right. Collect trump cards.com. , I, this is not a joke. Uh, this was literally something that, uh, the former president, uh, announced, um, in a press conference as he's wanted to do. And these are limited edition trading cards and they're only $99, 45,000 of 'em, right? Yeah. Yeah. So you two can get one of the rare 45,000 of them.

[00:18:54] Um, you know, there's utility here as far as I can see. You can win thousands of prize. , um, Miami Dinner with Donald Trump, a Mar-a-Lago group Cocktail hour, a group se a group zoom session. That's pretty good. Look, so we are mocking this and I think there actually is something to like the idea of being able to release a project that did, you know, if you did this the right way and, and could do something, there's something there.

[00:19:21] However, I don't. I, you know, I, I don't think it's, you know, I'd be surprised it's the thing if it, if it really, um, delivered on all those promises, I suppose is , right? So, hold on the floor price right now if you want Trump digital trading cards and we have this link is, uh, currently 0.008. You know, depending on when you're doing that.

[00:19:44] Uh, so far, 86 eth in total volume has been done across 25,000. items. So these things are going, and here's the thing, there's a tight-knit community that is very interested in this stuff and there, you know, there might be value here if you wanna like, try to flip something, um, on like one of the like, You know, special prize things, although I, it's on Polygon, right?

[00:20:08] I assume this is why you're bringing it up. Cause you gotta pump your polygon bags and score another one for the Polygon Biz Gev team. They are out there working it. And I got, you know what? See, polygon doesn't care if you're on the left to the right or the crazy. They're out there, they're out there making blockchain space and selling it for you affordably.

[00:20:29] Uh, absolutely. Hey, there's the, it is the choice. It's the choice for a. Project like this, you know, Starbucks, Nike, Trump. All right. So you get a sweepstakes code. All right? You'll receive an email with sweepstakes code enter shoes. Please enter a valid email address when you purchase. Uh, you'll enter that entry code sweepstakes win trump prizes.com to see if you're a winner.

[00:20:55] No purchase necessary to enter the sweepstakes technically so you could go enter those sweepstakes without buying this, by the way, cuz they're using sweepstakes. for those of you who are, uh, nerds out there in this sort of, uh, legal nuance of how sweepstakes work. Um, interesting. Yeah. So that's also, I'm assuming there's no on chain, uh, proof of a winner.

[00:21:16] No. No, there's no on, so I don't like that Then, so like my angle is gonna be like, oh, is there like, um, a rare one that people don't fully understand, they give you a chance? Like no, it's uh, only on purchase. Do you get a chance? To enter a raffle, which by the way, you can enter for free because how sweepstakes works.

[00:21:34] See how that works. Um, and then it's, you know, the price is still holding though on. Um, as you can see, George has, has looked into this . He's, Hey, he spent some time looking into the rules here. Has somebody, what does that stack of handwritten, he play arbitrage on this got behind you there? Huh? Is there

[00:21:52] I'm the proud owner of, uh, what was it? Trump for Senate dot eth because I think at some. , they're gonna want that. And I'll be happy to take all of that money and donate to two progressive causes. I may keep some along the way, you know, I mean, I think you should just go sweep some floors.

[00:22:11] not that bullish. No, there's no, I It feels like, you know, after you, you tear a, after you tear the top off, there's no continued value on this. Uh, as far as, uh, as far as I can see, right? People are doing it. , you know, I mean, unless they probably get access to events, so, right. There's that, I don't know. Um, anyway, that's, it's affordable.

[00:22:36] Um, I don't know though. So , you wanna lead us into our topic now? Unrelated topic. Just so happens that these two things are just right next to each other on this totally unrelated topic of how to run the perfect N F T. , we are gonna just sort of go back and forth of what are the elements. So let's just say, I don't know, we were lacking of moral compass and we were consultants on a project and they're like, well, we wanna maximize how much money we can draw from an audience.

[00:23:10] What are the elements? That you would bring to bear? I can kick this off if you want, unless there's something you're like itching to kick us off with. No, go ahead. I have some ideas here. You know, I, I, we've all definitely seen a ton of griffs in the NFT space. Man, it's, I, I don't know that I, the perfect one's tough because there's some stiff competition for grifters and, and crypto and NFTs.

[00:23:37] All right, so here's my first one. You have to start off with complete and anonym. or complete celebrity. So you need to take one of these extreme polar tracks. You need it. No one needs to know you or everyone needs to know. Let, but you still, yeah, I'd say you gotta be attention. You gotta be. You've gotta create a, a, a mindset of us versus them is, is part of that.

[00:24:04] It builds, plays into that. Because with the small one, it's a, you know, it's the, the David versus Goliath. With the, even with the bigger group, you still feel like it's, you're, you're the, I don't know, maybe the, the marginalized group. . So it is a us versus them mentality that you sort of, you need, I think for running a grift.

[00:24:24] Okay. So you're gonna bring in the US versus them or, I'm writing all these down us. Yeah. Well I think it's actually a great pro. It's actually something that it, that goes into a great project, but it's also part of a, if. Buying into the, the graph. So I don't know. , it's, you know, careful here where we say great pr, what's a great project versus what's the, what's the Grift, right?

[00:24:45] Lovely. I lovely. End up a love. We end up actually like being like, oh no, that's a good project. I'd buy that. Well, we'll see what we end up. Okay. Can't be in the middle. You're saying ? No, no, no. Uh, I would say you need. A 10,000 or less supply. I think supplies have to be limited so that you can, later when you get to it, manipulate the price, uh, because you need to, when we get later, and I don't wanna spoil, but you need a, uh, less than 10,000 batch of, or 10,000.

[00:25:18] Okay. Yeah. For NFTs, yeah, I would say that's generally true. I guess it, what I'm thinking is generally you just need to, the other part is maybe you need to control a, a, a good portion. You, you need to be able to control a good portion of the assets in, whether it's directly or, or, or setting up a, a nice network.

[00:25:40] Where you know that there's a, a certain amount of control and, and guaranteed votes or what have you. If, uh, it comes to those things. Yeah. If it's like a Dow or something. Okay. That's, that's mine. So, uh, a controllable 10 K or less batched, what is, what is something you would add? Uh, we'll just, you know, I think.

[00:26:01] The, the idea that it, that you can control a high percent of those assets and I think having maybe more, ah, having the network of people to, to do this, um, that can, hmm. That add. So the network of people that, that will be able to control in all that will be able to help control the assets and also add what seems like more credibility to a project.

[00:26:27] I think getting people, the, the, the grift almost, you've gotta get some, some credible people in it to make it look good. I think those have been common in many of the, the grifts that, the biggest grifts that we've seen, . Yeah, no, you need um, sort of a credible whale, right? A credible N F T whale. Mm-hmm. or someone basically not you to vouch to vouch for it cuz what you're trading on is trust.

[00:26:53] Yeah. Whether it's, yeah, I think it's generally, you know, influencers or Yeah, I mean the N F T influencers, you know, we see different levels of those and pH man there's some you need pay so off for that. Okay. So I think you need a tight initial white list that is oversubscribed. , you cannot leave things on the shelf.

[00:27:14] I think people have to have felt like they missed out. And if you are meeting the entire demand, the entirety of the demand, um, You're gonna have a problem because there's gonna be no one to FOMO into secondary and tertiary markets. Yeah. You gotta guarantee that sells out right over even if you are in there yourself.

[00:27:33] I know. Yeah. Well, I think that that goes back buying. Can we control own books a lot? Buying your own books with, let's say an RMC war chest of money? Hypothetically speaking, if I wanted a book to go to, number one, I would use a war chest of campaign funds to buy my own book in mass. So drove it up hypothetically.

[00:27:50] I would do that with NFTs. Just literally, no, I'm literally saying that it's not even hypothetically. So oversubscribe whitelist, and it must sell out.

[00:27:58] What's the next step in our grift?

[00:27:59] All right. What do we got here? Um, I I can keep going. Oh, go for it. You what? Hit us with the next one, George. , this is very important. You need to have a very high creator fee. Oh. Because you're gonna be taking advantage of secondaries, right? You need to get a taste. Yep. Yep. Uh, so I don't know, let's say around, hmm, 10% or more.

[00:28:27] Totally unrelated fact, I'll give you and the listeners at home, one guess at what the creator fee is for Trump Digital trading cards. Hmm.

[00:28:39] All right. I think another one would be an example of, of winners. You gotta show the, the people that have won from your project that have done really well. You gotta have some people that. That, uh, can, can vouch that have sold something for a high price, um, that have, that make it look like a successful good project to be in and whew, I wanna be like that.

[00:29:02] I'm gonna call that. Like, that's such the Ponzi round one, right? Ponzi round one has to be people that have flipped these four a win and then you make sure those people get pressed. It is critical because that's what starts that greed. where it's like, oh my gosh, people are buying these things up. I bought mine for a hundred dollars.

[00:29:21] I flipped it online for $300. You don't believe it. So perhaps you're thinking about with that sort of, uh, arsenal money. Now you're gambling a little bit, but let's be honest, you're, you're a grifter. Uh, you need to be sweeping that floor at some point, but also pushing it up for certain people to then talk about it.

[00:29:39] So maybe what you do is, I would say, put a finer point on this, the proof of. , uh, I would pump the rarity. I would look at the rarity and then like make a game on that. But I would even go more, uh, sinister than that. Uh, I would have somebody buy something that is like technically rare and then have another account pay and overpay for it between those two accounts to show that people are overvalued.

[00:30:03] Good old wash trading. Huh? Strong wash trading on high. , uh oh Yeah. Show that demand. Cuz people aren't just, they're not just buying the floor. They're, you know, they're, they're big fans of this thing. They believe in it, right? Well, the rare ones, maybe if you get a rare one, if you mint another one. Oh my gosh.

[00:30:21] You know? So that's, um, just a, I feel like I kind of, I did a plus one on yours there. So here's my next thing. I think we've done that with a couple of these. . , you. All right, so here's my next thing. You need a future hyped event that has potential utility, but is not entirely clear Utility. Yeah. You gotta have, you gotta have promise of utility.

[00:30:42] Something's coming. Something. You're gonna get free something. You're gonna get access to something, a big thing will be announced and you're gonna wanna hold this thing when that thing happens. I need, you need a hype moment When a holder's only event. On Fire Island or Fyre Festival? . Is it ? I forget where Fyre Festival is.

[00:31:07] It was, I don't remember. I got something, I got that wrong. You know what I was talking about? ? Um, here what I'm saying, a hypes moment in the future that is, uh, both exciting and unclear. not, not specific. You need a non-specific, exciting thing in the. I don't know. I feel like people should hire us for this stuff.

[00:31:27] We're given all the way gold here, man. I know, but you know, when you look at this, it's like this is, if you change a few words here, it's actually what you need to do, . It's like it's a lot of the effort. . No, but like the wash trading is a bit like that's over the top. Right. Obviously. Yeah, I, I understand that.

[00:31:48] But no, there's, there's obviously things you would take out and there are things like, hey, if you actually, you shouldn't be super specific about saying like, Hey, we're going to have a token that launches in mid-December of this at this time and it's gonna drive you this much value. That's definitely not promise, date, and a token.

[00:32:05] Oh yeah. Never promised dates. Again, I said hyped moment in the future. I didn't say date. Uh, that is exciting and non-specific. Um, alright. My, my next one is, and this may take a little more technical investment, but you need, you need to get staking and yield involved. You need to have people holding actually, so you need Oh yeah, yeah.

[00:32:28] A certain amount of volume flipping, but you need people like staking that thing so that they are not constantly dumping on the floor. Cause the danger here is. , um, people dumping to the floor. Um, and that's the thing that you're artificially trying to boost up. Yeah. You wanna, yeah. You want 'em to hold that You wanna maybe reward them by, with maybe tokens for, for holding that I would even say, yeah.

[00:32:50] I mean, I think the tokens get a little scary to me cuz that's how you piss off the s e c, but. If you're really grifting, you probably want tokens. So I'm gonna say token. I mean, if you're Grif. If you're grifting, you are absolutely adding a token in here. It's what I think best. Best the best. Yeah. I mean, it's easiest way, it's actually, it's, I think it's easier to lock up supply of, of tokens without people generally noticing.

[00:33:18] Compared to NFTs , it's yes. Um, alright. Tokens and staking. You know, I haven't mentioned, I think the art has to be passable or unrevealed,

[00:33:29] but the problem is on the reel. I think there's a, you can be unrevealed, I think. Yeah. There it has to be passable. It has to be, yeah. It has to be somewhat legit. There needs to be something. There's gotta be some belief that, hey, look, this is, there is real effort that went into this. It's not complete junk.

[00:33:47] They've clearly spent time on this and, and, and, um, at least gotten the right artist to work on it. So they're taking it seriously. Yeah. I would actually go an AI generated route here. So it's like you can claim something nuanced, but you didn't have to pay anybody for it. And, you know, train the ai Well, if you, I mean, if you train a chat g p t to start spitting.

[00:34:10] New ideas for the AI that, Ooh, yeah, there you go. Bun, boom. Done. I mean, boom. Done. It just passable, art passable. It can't just be a copy paste of board ape, like I think we're even on a grift level. Like we're kind of pa, we're above that . We're above that. There's stuff in here. There is, and I think, you know, if I was gonna add something, maybe we spoke to this a little bit before about getting, you know, credible influence involved, but I think getting big, getting a big investment of some sort in, in the project that's even outside of the N F T, you know, essentially we believe in this so much, you know, that looks really good, right?

[00:34:49] The Andreessen writes a check for the, the underlying platform tech. You're like, What could go wrong? Yeah. I mean, if they're valuing just the tech it that much, imagine what the, the N F T is gonna be worth in the future. I mean, that's the real asset here. I used to say like you needed that discord community running nonstop and pieces like that.

[00:35:12] I feel like there's a little discord overload. However, I, I think there might be a value for like a rarity play of like, if you own this type of. you get access to like the Trump disc or the, sorry, oops, I'm some exclusive thing. Let's say you hypothetically had a social media asset, uh, some exclusive room in, in where you could only enter if you had a thing.

[00:35:37] Yeah, uh, yeah, I think there is a, maybe the discord number isn't as big or the activity, but yeah, you better have a, a ridiculously large social media account, even if you are getting, you know, 32 likes from your 38,000 fans or whatever it might be. Um, I also have another one non redeemable. Right. This is the, this is the golden, this is the golden utility.

[00:36:05] And this is the, this is one of the things that like, not to throw shade at Nike, but you know, they offered up the boxes, right? And then after the fact said, only if you're in the United States, like, I mean, okay. Ish. , but what if it were even tighter than that? Let, like say there's like a traveling, you know, hotdog stand or major speaking event that you happen to be doing around, and only if you're there at that time can you get access to it.

[00:36:33] But that's, that's for the fine print. You get access to backstage at a thing if you're wearing certain things in certain places at certain times. And you can do a fine print, but it could look like access on the top. You know, I think Gary V did this like pretty honorably I would say, with regard to conference events and access.

[00:36:52] But you know, he's not meeting and greeting the like 40,000 plus holders of his, his pieces. But there are a lot of promises out there.

[00:37:04] So I guess, uh, you had mentioned something about 10 K or less. Uh, you know, I, I'd say that's how you start. But if you're really a top-notch grifter, you don't end with one collection. There's more because it's so, you know it, you've got to grow it because. , there's, there was so much value. I mean, you know, we know this, you know, these projects are a bit of Ponzi, so if you got some winners, you know, you need some more money to keep pumping in and let's get new buyers in here.

[00:37:33] We're expanding the ecosystem. We're taking in more money and delivering maybe even less than we were before. . Yeah. A second, a second and third round. Yeah. I mean, of. Of that NFT drops. Yeah. Th this is a lot of golden here. I think, you know, if, if we hadn't given away all the secret sauce here, we could have been dynamite consultants for this

[00:38:02] Yeah. Uh, So for the record, this is not financial advice. We don't recommend you do this. We are speaking on behalf of ourselves, not any of the companies that either of us work for , just in case. No, definitely not that we've seen in the space at all. Um, this isn't based on, I mean, oh man. Could, uh, Felix, like we need someone to just do a mashup of all of the worst things that have happened in.

[00:38:30] I don't think we need that. . Yes, I, it's sort of the Silicon Valley H B O show of just the N F T crypto space. Man, that could be very entertaining. I would watch it. I would watch it. It deserves to be done. It deserves, I mean, we're gonna get a sandbank and free documentary, but I think we need something bigger.

[00:38:46] Oh man. That's gonna be painful for some people. I mean, hum. Luckily, not one of them, but I mean, you know, other than the contagion, you know, we're all part of that. Oh, yeah. No, I guess I am a, a indirect victim of that bs. All right, so here's what we have just to run it down so you can hear it all together.

[00:39:03] How to run the perfect N F T Grift Extreme and Anonymity or Extreme Celebrity with a. Foster the US versus them in the narrative 10 K or less in your badge so you can control a high percentage of those assets and bleed it off. Credible, N F t, whale or influencer being publicly involved, oversubscribed whitelist.

[00:39:25] You must sell out even if you're buying your own book. High creator fee, we recommend 10% or more proof of winners, right? Ponzi initial round of wash trading would be it cuz it's even better if you're wash trading, picking up a piece that you know is valuable and then reselling it to yourself and another anonymized wallet making a big deal about how rarity is spiking.

[00:39:46] Then you need a hyped moment in the future. That is a both exciting and non-specific. Something big it is coming. You'll be surprised. You may know the people. Say words that inspire people, don't put a date on it. Tokens and staking. That's just functionality you need to, to hold the floor. Uh, unrevealed art for a period of time.

[00:40:08] And then it has to be passable Art that is not a complete copy that people can narratively tell themselves like, all right, this is close enough to art, or something I like and. Some sort of outside investment news to the company. Uh, exclusive social entry that elite pieces give you. Unredeemable utility events, i r l or what have you, and a second and third or as many rounds as you can possibly make to really milk the heck out of your audience until they are, uh, completely broke, until you cannot get any more money out of them.

[00:40:44] And then you find a new audience and need the same thing, you probably need to go. Probably with a NA anonymity and then go to Extreme Celebrity because after you burn down your name, it's hard to do it again. It's the top level. I feel like that's, uh, pretty solid. Good advice out there for ripping people off.

[00:41:03] Yeah, this is solid. I mean, man, we've seen some hyper success using these tactics. Uh, I feel like if we just, you know, we can put a book together or something, you know, get a few, get a few nice quotes from different people in the space, they'll, oh man, this will be a hit. Oh gosh. . Here's the . I have nothing else to add.

[00:41:25] This is a perfect, sometimes you have a perfect episode. This, this is a perfect episode. I think everyone learns something and I'm very disturbed. All right, see you out there. All right, good one.

 

Art of the Basel | Should you go???

Rantumbits.ETH   talks about the different events at Art Basel Miami 2022.

https://www.artbasel.com/?lang=en

 

Rought transcript - don't judge

[00:00:00] Well, we've got a quick podcast here, topic on all about affordable NFTs, where our very own Andrew went over to Art Basil. You know, we talked about, you were there day one, but I felt like there was more to say. And so this is just like a quick recap of, you know, it's been a week or so since you've gone.

[00:01:05] you know, news is settled. Time to settle. What are the things that are still sticking in your mind from actually getting to walk around on the ground in Miami? Hey, uh, yeah, it'd be good to talk a little bit about this. I was, hadn't really gotten to experience much of Basel before, uh, or when we last spoke about it, I was just heading over to some events, um, and got to a lot of events over the course of the, the.

[00:01:31] Three, three nights I was there. Uh, it went by quickly. Um, there's got over to the convention, uh, the convention itself, uh, which is where Art Basel really is. And, and Art Basel is a, uh, it's an event that happens in four times a year. It's based actually in Basil, Switzerland. Then there's one in, they have an event in Miami, uh, Hong Kong and.

[00:01:55] Wanna say, I think it's either London or Paris. I, I, I could look that up. I'm sure you could too, if you're really interested. . Um, so this is the Miami version I had never been before. Went over there and this was an enormous exhibition with very high end artwork of most. Mostly newer artists. I mean, newer being, uh, the last a hundred years or so, and there's some really impressive artworks on sale.

[00:02:17] Uh, so I should say on display, I mean, the art galleries, they, you can buy them, um, or one can buy them if you have the, uh, , the funds. But, um, you know, there were some, some very pricey works. There were things that were also reasonable. In many cases, the prices aren't listed, but you see works from, from, uh, from artists.

[00:02:35] Uh, Picasso for, uh, I guess Banksy was over at another, I. Maybe I could, I could, I'll separate that. Um, uh, but Kandinsky, uh, uh, uh, Trent Morro, any many works from, from just artists that, um, that, you know, um, that by naming it, if you aren't maybe the, the most into, to art. But, uh, there's some, there's a. It, it's impressive the number of galleries there and the people that have traveled from all around the world.

[00:03:05] I mean, you can hear just different, uh, different languages being spoken and, and, uh, just the galleries that are representing, uh, different, um, cities around the world. Um, it's quite impressive. Yeah. You know, based on some very soft, uh, research by myself, 23 countries, you know, 160 plus galleries. I mean, it's, it's massive.

[00:03:27] Been going on. Was supposed to start actually in 2001, happened in 2002. Uh, cuz it was postponed due to nine 11. So it interest, yeah, it was quite 20th anniversary. They were, I was actually surprised at, you know, maybe I'm just used to, uh, N F T events, but the, the lack of, uh, swag that they were not giving away anything along with the, you know, $75 ticket or so it seems like.

[00:03:51] You know, you maybe want somebody walking around with a bag or, or whatnot. If you do, um, you know, if you get people in the door, but, uh, maybe that's, maybe that's not, not their game. . Yeah, maybe not. I'm curious, you know, were you able, here's an objective question, right? The ticket cost $75. There's premium tickets, which cost whatever.

[00:04:11] Uh, you have to pay for a hotel. You have to pay for a. Here's the quick question. You know, it's been a week. You got new NFTs, I noticed. I see your wallet. , objectively speaking, are the NFTs you got potentially if you sold them, not like right now, would it cover the cost of the trip, assuming you paid full freight?

[00:04:29] Oh, uh oh, man, that's, that's tough to say. You know, Miami, you know, there were. A lot of events to go to, tickets to buy, um, you know, and, and staying there. It, it's a, I used a lot of of points, uh, on that trip. It's, uh, but the traffic was, it's crazy how much traffic, uh, or how much time units sp sitting in traffic.

[00:04:51] So this was the, the main Basel events, and this is all really part of Miami Art Week. Um, as, as they're really trying to , you know, to. Um, you know, market the, the whole week in Miami, um, most of the, the Basel or like the real Basl event is on Miami Beach, and then that's a lot of the, the super high end galleries are over there.

[00:05:14] And so there's a lot of people that come over to drive over to Miami Beach, which is accessible by, uh, essentially two narrow bridges and they get super backed up as we were getting on to go back from. From Miami Beach over to A to N F T Now's event, um, which I'll speak about in a second. Um, it, the said it would take up to about 15 minutes as we, as we pulled onto the bridge, the driver told us it would be an hour, and, uh, he was definitely more correct.

[00:05:45] I, I fell, I fell asleep on the way over anyway, it wasn't so bad for me. And as I woke up, I said, Hey, wait, it's. It's only been two minutes AC, or we've only shaved two minutes off the time. I know we've been in the car a long time. So, um, you know, I heard a lot of stories of people just sitting in traffic.

[00:05:59] Um, so it was. Definitely not as bad over on the, the Miami side. And that is where most of the N F T events were. Uh, there was one event that, or one, a big expo that was sort of in between. They had a, they had some digital arc there and, um, I should, uh, Tezos was a, uh, I guess that was actually at, at Basos Tezos did have a, was a sponsor at, uh, Basl.

[00:06:24] Um, so there was some n ft representation there. At the, the other one it was a little bit more, um, modern art. That's where I saw Banksy. Some, um, more, uh, s, I don't know, maybe established or traditional fiat based artistry, . and also someone that, you know, if you had, if you had thought about, you know, if you had told someone in the, you know, maybe 1970s that this artist that had done a lot of graffiti would end up being one of the most popular artists of this time.

[00:06:55] And I think you go even LA much later than that. Um, you know, that would probably, uh, sound pretty surprising. So what I. You know, what I like about that is I think that there's a, a big opportunity for, for N F T artists to, to make headway here. And that it's a, it's a, it's a place that's generally, um, more accepting two creative ideas done well.

[00:07:17] Um, so, you know, kind of hopeful that, you know, we can start to see NFTs move up in these, uh, in these different events and, and become more of a focal point at them. Um, the N F T now event was, they had. I mean, it was like two or three blocks sort of, uh, sectioned off down there and then down to, uh, I don't know, an area of Miami, um, that had a lot of, it seems like there were a lot of sort of storefronts that could just, that were.

[00:07:44] Empty and could be used for pop-up stores. So Meta Mask had a booth there, art Blocks, uh, 90 cc, who is a fashion company. Uh, and I, I think I mentioned this on a previous episode, they were doing a live. Minting of live minting printing of shirts there. Uh, so this was a collaboration with Snow fro. They made 1200 unique shirts.

[00:08:09] You could, uh, actually go there and mint your shirt, get, you'd see it display on the screen. There's a, I'm gonna get a co-op of your shirt at some point when we hang out. Yeah, well, yeah. So they do, they put an they right as you're there, you see them put the NF seed chip in, uh, in the shirt. They put your.

[00:08:29] Your, your squiggle design, you know, your squiggle inspire design pops up on the screen so you can see it in the, in the lounge area as you're waiting. And, um, they did a really good job of, with the, uh, the presentation of that. And, you know, it was, they, the box was really impressive too. I should, uh, you know, if I, that was good at these, at sharing photos, like, you know, I, I would put something together, but, uh, , I'll ask.

[00:08:51] I'm not so, so good at that . Um, you know, I can talk about it, but it doesn't sound so cool, does it? I mean, hey, depends on the audience. Really Awesome. . Like, it sounds cool to me. Kinda. Yeah. Hey, it was really cool. I mean, they did a, they really did a great job. The events were, were nice there. Um, the other, uh, you know, big, uh, or one of my favorite events there was the, uh, the FOCs Paint party.

[00:09:15] I was waiting for that one. The paint party? Yeah. So it was the second paint party that I got to go to. The last one, uh, was, the last one was in New York. N F T N Y C, uh, this past June. Um, and those were painting canvases, big canvases that were stung from the ceiling, and those have been made into the canvas NFTs.

[00:09:34] Um, so this one was a little, was different in that you're painting t-shirts and actually all sorts of different fashion items. The t-shirts you got to take home with you. The other items such as Adidas sneakers, Jean jacket style, you know, jean jacket, whatever, you know what I mean? , those types of jackets.

[00:09:57] Uh, just pants, all sorts of other items. Uh, all bright white when they were, uh, you know, put out there, those were available for anyone to paint on, but those had to stay there. So I imagine that those will become part of a new, uh, collection of some sort that will be released in the future. You know, the idea being that everybody chipped in on these, uh, These, these object as well.

[00:10:19] Uh, it was a fun time there. They, they do a really good job of getting people in. It's a, it's a lot of people that come in and they keep it manageable. Lot of supplies. Big warehouse, big space. They have food, they have full zip up suits, I gotta say put on. Sounds like they have the most buttoned up. Type of I R L meets N F T game.

[00:10:40] Is that fair? Like walking, walking around. You have been to two, you went to one in NYC and now one in, uh, in the Basel, right? In Miami, yeah. Yeah. This, I mean, there's a lot of these. I didn't even mention that my wife came on with me on this, this trip and, you know, so I was, You know, trying to make sure that I was doing things that weren't entirely, uh, N F T and, you know, staring at your phone and geeking out and being like, Hey, uh, you know, but this was one that I, speaking of, which I thought was a, Hey honey, I know she listens to all the episodes.

[00:11:07] Thank you. Okay. We'll see if she hears that. Yep. Uh, . Oh, big test. Oh boy. Oh man. But, I mean, shoe had a good time at that event. It should. She painted her own own shirt there. I, you know, did have a couple of, of tickets. So, uh, it was cool to, to be able to do that one and, you know, go to some of these events that it's, it's so much more than staring at your phone.

[00:11:29] You know, there's some of these, you know, it's, it's, it's a, I mean, that's a certainly experience that we'll both remember going to. It's something that you, I mean, yes, I had done it once before, but, but it's a pretty, it's a pretty different thing than what you would normally do, uh, when you're, and like you said, it's approachable for other people, like, Goes beyond this, like, Hey, look at my digital collectible.

[00:11:48] Or I have access to this like special room where there's like, okay, another opportunity to buy a thing. As I understand it, they like scan you at the door, dress you up in a, like a suit so you don't get your clothes. What hand you a spray paint can and say have at it kind of thing? Yeah. There's all sorts of painters, spray paint, there's all sorts of, I mean, there's markers, there's, you know, just all sorts of things around, there's, you can hang 'em on walls and other guidelines like, don't draw a bunch of dicks everywhere.

[00:12:14] No, I mean, there's. I think, huh, maybe, maybe Fis has, has done a good job of that. You know, he's able to curate, curate it downstream being like, yeah, I mean, you gotta be a holder, I guess, to get in. So, you know, maybe there is something there. I don't know what it would be like in other collections or in other project, I mean,

[00:12:35] I don't have a lot of hope for Dick Butts, but Okay. Yeah. I'm not . Right. Um, but yeah, I mean that was definitely one of the best inter inspiring experiences. Uh, you know, the N F T now one I felt like was a little bit more targeted at people that already knew a lot about NFTs, uh mm-hmm. . They had, there was a very cool gallery in an old bank where they put, uh, they put.

[00:12:58] Some of the, the especially high-end pieces, like an X copy on display in the vault, uh, which is a cool thing to walk around. Um, it just was somewhat, um, and it wasn't the most, it wasn't the easiest for my wife to get interested in, you know, I probably would've spent a little bit more time there, but I felt like it was very targeted at people that already knew something.

[00:13:19] And I, I'd love to see that kind of expand and, you know, bring people into this that don't know much about it. Make it something that you. I know you don't have to have known so much. You don't have to be so ssed in the N F T world to, um, to really have a good experience at, uh, a awesome final question, I guess is would you go back, would you do it again?

[00:13:43] If so, what would you do differently? Yeah, I, I would like to go back. I don't know that I would go, you know, next year. I'd like to go back at, at some point and see. See the progress that NFTs make over time. I think that they're, I think that NFTs will become more, uh, more of a focus of some of the galleries.

[00:14:04] Uh, you know, maybe we even, and I, I guess that's something that I'd be interested in seeing. You know, are we going to see, are we gonna see. Galleries or, or, you know, crypto native spaces pop up in, uh, in, you know, more official Basel places or, you know, are you gonna see super rare there? Are you, are you going to see, um, bright moments at at, at one of these?

[00:14:30] Events, or are they going to continue to really do things separately? Or are we gonna see the, those mainstream galleries that are at Basil, are we gonna see them start to adopt NFTs? You know, I, I think that's Look, follow the money. Follow the money, follow, like, yes, probably. Unless there's like a certain

[00:14:47] Well, I think there's, I mean, I'm sure there'll be pushback from certain, certain people in, in the art world and. and there's going to be competition. So it's gonna be a matter of, you know, who, you know, I didn't see a big push yet, and I would be interested to see how that changes over time. You know, I think it may take, it may take a couple years, uh, and as I said, it's, I mean, it's a lot to go to as far as , I mean, getting there from for, for a weekend, from Fr, from San Francisco anyway.

[00:15:14] But it's definitely something I would be, be interested in, in checking out again at some point in the future. . Well cool. It's very interesting to at least hear it from your perspective being on the ground and then like a little time passing so you can kind of absorb what's actually, uh, memorable about it.

[00:15:29] Cuz it seemed like at the time, very overwhelming. You were trying to find like a Geocache X copy somewhere, . Oh man. Those went fast. I never got anywhere close to those. Never were anywhere close to it. All right, man, man. Yeah. I guess maybe it's, no, I was watching your, try to spend some more time there, but that's how, man, there's just so much to get packed into these events.

[00:15:47] That's part of the, the, the fun of going, I think. All right. Well, uh, thanks for sharing that.

[00:16:25] No, no, no, no. Don't, no, no, no, no, no. Don't do it. There's one more thing, but wait, there's one more thing. What he, Andrew was so excited about this extra one thing. We turned on the microphone again, and we're spending the money on the tape right now. . Oh, man. It is, it's pricey. I think we, we did just, I picked him up from Costco the other day.

[00:16:43] So, cassettes? No, you know, I, I forgot to mention the, this, this ridiculous. Um, At M Machine that was on display, or it was a, it was an exhibit by, uh, MS. C H F mischief Mag. I, I, I don't. They've, they've done a lot of magazines and a lot of, um, kind of ridiculous products before. This was one where they had an at or an at t m card reader that would take a picture and a, and would, uh, grab the balance that you have in your in your account.

[00:17:20] So I believe the, uh, the leader ended up being, The, uh, artist Diplo who had something like 12 million in his account, his at TM account, which is both absurd and ah, I mean, it's absurd. I don't know, but, but it's, it's quite a, I mean, that, I just felt like that was, it is something of, of like, what, what is an N F T of this?

[00:17:46] Or is it just. Yeah. There's no nft. I wish there were, but you know, I, I was, it just felt like there's, there's a lot of that in Miami. There's a lot, because I would buy the N F T of DIP bank account balance. That's, I'm showing something interesting. All the, yeah. Right. Because I think there is something at this time, at this place, that guy had a lot of money in his account.

[00:18:02] Mm-hmm. , that's a, but that's a digital. There is something to that that's like, it's showing digital wealth, right? It's just a bank account and I wanna show it off somehow. And I don't, it made me think of once people start, I mean, you see so many people there trying to show off money. It's a Fiat Plus, right?

[00:18:20] That's a Fiat plus. It's, I, that's something that I, I felt like was, you know, I don't know, maybe we're almost missing that people need, people want people to show this off, and I think that there's a lot of people that can realize, that, will realize that you can actually show these off a lot easier than you can show off the thing that's hanging in your living room.

[00:18:37] That's pretty hard to get someone to come over to your living room and see it. But if you can show. Somebody that you own this piece of art on the blockchain, there's something there. So it was just an idea that was kinda in my head, after seeing that thing. And eh, people like to flex and show off well, and it's a good thing for NFTs and, and ridiculous.

[00:18:58] Part on the blockchain. And as we were saying, it's uh, bellwether, it's a bellwether for N F T adoption in the art world, which is probably its strongest footing in use case right now. Although there are many, many use cases. Uh, but in terms of if we're talking about, you know, price and value, um, that's where we're probably seeing it.

[00:19:17] So thanks. Thanks for sharing. Glad we, uh, spent the time on the tape,

COCKpunching the market

 

Theme: COCKpunching the market + Bandaid ripping 

 

https://opensea.io/collection/cockpunch?search[sortAscending]=true&search[sortBy]=UNIT_PRICE

3600 eth

•  

• NFT News

• • • Ledger Just Launched a New Hardware Wallet for Your NFTs
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    • Reddit Saw 216K NFT Mints In A Single Day 
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    • The Block: Apecoin holders are losing their staked tokens when paired Bored Apes get sold    
    • The Block: ConstitutionDAO2 selling NFTs in fresh bid to buy US Constitution copy
    • Starbucks NFTs are now available to beta testers
    • Author Tim Ferriss Tops NFT Sales Charts With 'Cockpunch' - Decrypt  
    • ZED Changing the game  https://community.zed.run/post/zed-rundown-edition-48  

• https://guide.zed.run/zed-run-guide/racing/about 

 

Transcript

[00:00:00] Today on all about affordable NFTs, we're talking about cock punching the market and what Yeah, you heard me correctly. Uh, at this point, I, I imagine, uh, folks have already heard the Tim Ferris, uh, launch of his nft, but we'll get into that in a bit. How it, you know, livened up the market a little bit, gave it a little cock punch.

[00:01:06] I guess that's a thing we say. Boy. Yeah. I mean, you know, crypto needs more, more odd sayings to have people overhear in other conversations. Right from, from Normies. So now you can talk about, it's been minutes cock punch. Yeah. Did you mint, you didn't get the minty cock punch, right? I was on the wait list.

[00:01:24] I was right there at exactly the right time. It felt like the old days of, yeah, it felt like the good old days of like, oh, I didn't know I was in a gas war. Cause I thought I was. and approved pre whitelist. Exactly. At like the time when they said to do it and it got gased. I was like, whoa. I didn't think that was what we were doing here.

[00:01:42] Yeah. I was fortunate to have, fortunate enough to have one, uh, mint spot for that one and a, a raffle. Um, so it did mint, uh, those, yeah, it's been, been quite some volume. People get into that a bit more, but, uh, anything else new in your wallet recently? George? Well, uh, I already was, uh, celebrating the fact that I got the artifact Nike dunk, uh, not too long ago.

[00:02:04] Uh, still pretty pleased by that. But then I got dropped these, uh, shield Age things that I think, um, came as a result of one of our previous, um, uh, previous projects that we talked about. Uh, the sort of, um, looking for it, but the, the membership. So I hadn't gotten an interesting drop in of it. So yeah, I cotu tsunami sum.

[00:02:27] Pronounce that. Yeah, we did mention that one. Or, um, yeah. Cool. I, uh, had one, uh, I picked up one new piece today from Colby. It was a very small edition. Uh, uh, it was a hundred edition, hundred pieces total. Um, there were 70 for sale, quite really small. They were 0.2. It was a project they hadn't heard about artifacts.

[00:02:48] So that, that's those kind of interesting to check out a lot of 3D objects from. As they state a hundred, uh, premier crypto artists of col use is the latest one. We've had some others there too. Um, I think those are, I, I can't quite tell what's going on. They were, like I said, they were at 0.2 at one, uh, from the, uh, mint, but they were really just for sale on, on open sea, so it wasn't quite minting.

[00:03:13] It, uh, you're actually picking one of the, uh, the existing tokens and, and hoping that. out , you, you just beat somebody else to it. So missed on a few, got one. Uh, no, but it's, uh, little different experience. Um, it does feel like there's, you know, overall it does feel like there's, there's people waiting around for the right projects.

[00:03:35] Yeah, I mean, I think the, the degenerates are still here. If you look at like N F T sale volumes, , um, over the past seven days. Um, they're, you know, slightly up actually, uh, overall by about, depending on how you're looking at it, just on the Ethereum network by like 10%. So I wonder if, you know the, there's a, a December end of year bump, but I mean, we've been talking about it.

[00:03:57] I do have to do some harvesting. I'm like, it's kind. The clock is going and I'm gonna be so frustrated with myself if I didn't like, uh, go through the old, uh, catalog of broken dreams. We'll call them. Yeah, at the very least, I mean, I would say it's something I did last year was even just swapping. Tokens from the same collection with other people in that had pieces from that collection.

[00:04:19] Um, you know, if you're looking to, to move your token, um, you know, and, and sell it cheaply and then pick one up from another, if you don't, you know, maybe just wanna help somebody else out, maybe hop in and discord, look at ways that you can take a, uh, you know, realize a loss, um, and maybe help somebody else out.

[00:04:36] Those, those losses can be big when it comes to tax. Yeah, well, I'll be in our discord. I may have a Bonny or two that I bought at the wrong time. . Yeah. Up in our discord up project Discord, you know, uh, we, we are not , we're not, uh, excluding ourselves with this need to, uh, to, um, to take some losses here. Yeah.

[00:04:59] Well, on the news side, uh, looks like. You've shopped quite a bit here. You've got a ledger, just launched a new hardware wallet for your NFTs. Am I dumb? Like why? Like, I thought we could just toss our NFTs on their last wallet. Like what is special about this thing? Yeah, so this is, it's, it's an interesting wallet here.

[00:05:17] This is, um, little bit different than, than what you've seen before. A lot of the wallets that we've seen have been very much like u USB keys. Hmm. Uh, this is a, this actually has images. It looks a little bit more, it's a, about size of a credit card or the, uh, length by width of a credit card. It's thicker.

[00:05:35] It's designed by Tony Fidel who, uh, was with. Apple for a long time was the, uh, the designer of the, the iPod signed many of their, of apple's famous devices. Um, so what this does is put along the side, it's a, um, the sign, there's a digital screen that you can label it with, and then on the front there's also a digital screen, so you can see your NFTs there.

[00:05:59] Um, trying to make it a little, um, more okay activity happening on the device. Um, and they've used mostly hardware wallets out there. It's a little. Putting a key in and then really doing most of it on your, on your computer. Uh, I guess all I've done is as my desktop or my laptop, I should say, not on my mobile with a, uh, With a, uh, hardware wallet.

[00:06:22] Um, you know, that being said, uh, yeah, so there's a, looks really cool. That being said, hasn't actually been, uh, tested out much yet. Um, you know, ledger is a, a trusted name among hardware wallets. It's not one that I've used, uh, personally. Um, this is, this does use Bluetooth, which I've been, I've been somewhat hesitant to, to, uh, use a, um, hardware wallet with Bluetooth.

[00:06:47] Um, to me it's. The potential risks seem not worth the, the convenience of, of not plugging it in. Um, but I, I am curious to see what people think about this once it, uh, is fully released. I mean, it's some beautiful piece of looking tech, I'll say that. Mm-hmm. and a lot more than I think we've seen for a while.

[00:07:08] Yeah. I, you know, it's kind of one of those things like, I don't fully understand. The upside of having a screen, because I use my, uh, mobile phone to show things when I wanna show it really quickly. Like, oh, I own this thing. And like, um, and makes me nervous. Silly. One of thing around still putting the safes a lot.

[00:07:27] I don't wanna Oh, but then I usb Well, um, but I think it, you know, just having more options, um, for hardware wallets I think is, is great. They. They're, they're relatively underused at this point by, by the crypto community. I think.

[00:07:42] Let's see, next here, we've got some more, uh, Nike Artifact News. Um, so they are hinting at a, a move to earn, uh, type of, uh, feature for the, this new shoe that they have dropped. I think we, we talked about this a little bit. Um, they discovered they. They announced the physical shoe, um, at nf? Yeah, at the NFT Now event.

[00:08:10] At, at, during Miami Art Week. Art Basel. Um, and now sounds like they may be going, um, a little bit in the, uh, direction of, uh, uh, why my, what's the, uh, the one that's done this already? George, uh oh, the, it was on Solana, right? Right. Oh God. Oh, hold on, man. Blanking, blanking, . Um, but you know, it's interesting, you know, they've, we've got a couple, actually I think we have two items, step, a step in.

[00:08:42] There we go. You know, definitely a bigger name in this. And you know, we've seen them, I don't know, we've talked about with step, it's big. A lot of that is. About advertising and then being able to, uh, get you to check these things so that you're, you know, getting exposure to the new ads and everything. So, um, interesting that they're interesting to see that Nike's also getting into that.

[00:09:00] I would think that they would be a little bit more of, uh, gaming it or gaming it so you can get your own points and whatnot to, uh, use in their ecosystem. Um,

[00:09:11] we. Shoot up. We've got one other, uh, Nike story here. Um, that. I'm actually just throwing it in. Um, so this, so part of this news was a little disappointing to some of their, uh, longtime holders of the, the monolith boxes. Uh, this, the news was the shoes would only be available to ship to the United States.

[00:09:36] This had never been discussed before in, uh, in any of their drops. When they, I mean, they've gone from the artifact shoot to different. Nike monolith boxes and, and whatnot. So this has, uh, definitely disappointed some of the holders. We've seen some, some, uh, big price drops in, um, a couple of their collections as well.

[00:10:01] Um, you know, so they're, um, it's not clear to me if this, the, the move to. Part would also be blocked outside of the us. My, my hunch is that it's not going to be supported outside of the us so that would be a, you know, relatively big detri detriment to the international, uh, customer base. Yeah. I'm managering They're having a real fun time in the, in the legal department.

[00:10:24] I just, I was also looking at this, are we, are we saying that there's another official word for the. Physical, digital called Fidgital. Are they gonna stick with fidgital as a real word? Are we doing that? I, I mean, it's pretty bad, right? It's a, we gotta do better on that. It feels, I feel like it's going around and I really don't like it.

[00:10:44] I think it's too late. It's not up to us. You're telling me I'm still ruining, I'm still rooting for my ons. I just wanna call NFTs ons. Come on, . I. All right. We get onto our next story here. So, oh man, we've talked about Reddit and how they're just killing it, but not with NFTs, of course, with digital collectibles, right?

[00:11:05] So they have, they're not NFTs, very clear. Definitely NFT Man, 216,000 minted in a single day. This is a new record for, for their platform and I. For any platform, um, you know, outside of somebody just saying that they maybe minted a whole bunch of, uh, tokens on their own. Um, this is, this is crazy. They just keep coming in waves.

[00:11:28] People are, there's new creators. Just, just learning from what's been done before and, and killing it with, with new releases. This is cool. I have not, you know, I, I still haven't fully jumped, you know, fully. Uh, jumped into that NFT or the, uh, the Reddit n f t universe. But man, this is, this is great. Yeah. And guess what?

[00:11:50] It's all happening on Polygon, I'm pretty sure here. Um, , full disclosure. Yeah, I like Polygon.

[00:11:59] Okay. We've got, finally, we've got ape. Staking coming and it's causing problems because of course, right? You guys rolled something else out. Uh, there are people that are losing all of their, to their steak tokens because they sell, they do not realize that they're bored, ape or they're muttin or whatever.

[00:12:21] Ape they might have or dog or whatever. I don't exactly know how the, the staking works, but it, it is essentially the key to the tokens. If you stake with, if you stake the tokens, you must have that NFT to get them back. Some people don't seem to realize this, think that's maybe based on the, the wallet instead, other people losing some pretty big, uh, big token amounts from this.

[00:12:43] Um, this is one. The numbers look insane right now. There's people . If you go on Twitter, you'll find people talking about, you know, retiring, living off the, uh, the staked token income. You know, we've seen how these play out. If you're thinking about anything back like that, please, please look at how those have played out in the past, every single time.

[00:13:04] Not like, oh, maybe this is different every single time. , it's almost tiresome watching that movie play out again and again. And just to explain the way that like staking is promised is you lock up your coins here, we give you yield from the magical yield ferry. Don't ask any questions about the magical internet money that will obviously just keep coming as long as you keep pumping the price and nothing will ever happen.

[00:13:30] Cuz you know, music will always keep playing. The money must come from somewhere and you know, I would hope. , anybody new getting into it would realize that. But if you're already in, here's the weird thing, I will say this as somebody who has been in the middle of, you know, the circus while the music is playing and it's like pretty amazing, you know, when magic money is just dropping into your wallet.

[00:13:55] It just doesn't last though. And it, you know, it can, it can be hard to pull out, but like if you possibly can, you know, capture that initial investment as quickly as possible. And, you know, do not think of it as like a huge opportunity. It just, where does the money come from? And it can't be magical Internet fairies.

[00:14:15] That's the answer.

[00:14:17] All right. Hey, do you remember that, uh, story about we're gonna buy the Constitution? You know, all the, the, oh, it was getting, that was like a year ago today almost, right? Yeah. You know how that died? Well, it's. Another, there's another group getting together trying to buy the Constitution, um, constitution DAO two.

[00:14:37] This is another copy of the Constitution. Remember, if you remember from the last one, it was, it ended up being bought by, uh, Kenneth Griffin from Citadel, um, , Citadel Ventures. He basically saw that Dow had raised about 40, I wanna say about 45 million or something. So that is 45. Oh one, you know, whatever it might be, ready to go 46 million and, and, uh, beat that bid.

[00:15:04] Uh, I think they're trying to, so they're selling NFTs with this one. I, I know they're trying to not say exactly how much they have. I don't know exactly how it's gonna work. I mean, it's on chain, but, you know, I also think it's a pretty different environment than, than maybe we were in at that time. So we'll see.

[00:15:22] What kind of money gets, uh, gets raised. To, uh, to go after this addition. Is that the Affordable project? go? Oh, yeah, yeah, yeah. I think you wanna bring that one. . I just like on their site, they've got Nick Cage, they're really playing it up. Um, just a picture of 'em. Not like public endorsement, but, uh, pretty funny.

[00:15:47] Good luck. I don't understand the, I mean, the utility of own. an artifact like that, but I guess I do. At least it's worth something, right? Like ar arguably, like if you have people like, uh, Ken Griffin, like spending over 47 million to buy the thing, there's some market out there. Yeah. I mean, they're not making more.

[00:16:11] Well, I mean, I guess, I don't know. Are they, are they on the blockchain? I don't know how many there really are

[00:16:17] They've raised 36 eats so far. I just found that app. So maybe it's a ways to go. 36 eth Looks like they've total public amount raised so far. Th what's No, you're missing. It's gotta be more. That's not gonna do it. . They're getting boy.

[00:16:38] All right, well, we'll see what happens. We'll, uh, we may come back with an update on that . Yeah, well, we talked, well talking about, speaking of Polygon, as you were earlier, we got Starbucks and their N F T efforts back here. They are actually rolling these out to beta, uh, beta testers now. Um, I, yeah, we've talked about how we haven't really, uh, seen much about this, but, you know, maybe there are just more beta testers being able to use the points and everything, but, you know, they're, they're moving ahead.

[00:17:09] That's. I'm kind of shocked to see that nifty gateway is going to be powering their marketplace. Yeah. Why? . Why? Why? I mean, why am I shocked? Why are you No, no, no, no, no. Why are you shocked? , uh, why are they, why are they doing that? Why are they throwing in with a centralized NFT marketplace that has ties to Gemini Winklevoss twins that I think owe or owed as much as 900 million from the FTX scandal and collapse?

[00:17:40] I don't know. Just questions. Just questions. Full disclosure. I have, I think, systematically removed every single, uh, nifty I had on that. , uh, just in case. Yeah. Not so bad. Can't hurt to have that in your, your own wallet, right? It's self custody. Mm-hmm.

[00:17:58] Well, I can talk about Zed cause I know we're gonna be pushing our, uh, We're gonna push in our talk about Cock Punch, uh, a little bit later. But, uh, look, Zed, the, I would say the game that, uh, really got me into NFTs, uh, with regard to horse racing and whatnot, uh, you know, they're still kicking four years down the road and they have a major update to the platform, which is always kind of funny because there's a lot of people who bought a lot of these horses.

[00:18:27] And a lot of, I know, yeah, I know of some, I know of one in particular, one of them. Uh, but they're, I will say impressively updating and not afraid to sort of innovate, but they're adding like levels, which is gonna increase, um, how people are getting like, experienced points on top of their horses. So, you know, it's kind of interesting to see that they had an original asset near Horse, which was an N F T, but there were hidden attributes, um, that could sort of only be seen on their system, not necessarily publicly.

[00:18:55] You could see their stats. So, These NFTs are sort of evolving in a game, in a way that I don't see any other game doing. And they're, you know, , they're doing it all on the blockchain. It's all in public, right? It's happening on Polygon. So they're trying to just make it, um, you know, more fun as a, as a gameplay.

[00:19:13] And, you know, I have a bunch of these horses that are being lent out on a regular basis now. And, you know, people, people are, are racing them. Um, it's interest. Awesome. I feel like we should have like, theme music for, for the stables, the stable report or something from, for George. What's going on with, with not stable report?

[00:19:35] it's, it's mostly not stable. It's actually stable. Let's not moving too much. Awesome. Um, let's see. So we don't, well we're gonna discuss a big project today. We don't have a specific project that we're. Going to, uh, to bring, I don't think, unless you, you have a surprise for us at the last moment here, George.

[00:19:56] I don't have any buzzer beaters. You know, I think, uh, I, I'm still just, uh, enjoying the fact that I picked up the, uh, The artifact there. But I will say because of the, uh, , because of the news that we just talked about with Nike and people being, I think, a little frustrated, um, the floor price is, uh, well below where I, uh, would say you, yeah, I was talking about buying it before you had, it was such a great buy until that.

[00:20:24] It looked like you had a great offer on it and things had kind of started picking up and then the news came out and, uh, you know, as, ah, it does feel like, man, anytime you, you actually release news, it's just, it's never good. Uh, floor Bryce is at, uh, 0.28, uh, call it two at 0.29. So, um, it is lowest it has been in quite some time.

[00:20:46] So if you think Nike can, you know, figure out how to make shoes a thing, uh, you know, maybe. Uh, pull up on it, but it's, um, yeah, I don't know. It's pretty much kinda my, my joke that I kind of expected that is like, as soon as I buy it, I'll tell you what's gonna happen. Yeah. Has that fallen knife right. I'm sorry.

[00:21:07] That is important. So let us, of course, let us know, uh, you know, we'll, we'll get to talk about Cock Punch and everything here. Of course, you'll have to let the, uh, let the community, let the, the listeners know if you do pick one up. Cause we know what that will we'll do to the price, right, George? Oh, right to the mo.

[00:21:21] Well, I mean, this podcast is definitely gonna drive it right back up, so no worries on that. Moving markets every day. All right, so we talked a little about this project. We, we, everybody knows about this at this point. If you're. Yeah, you probably do the Tim Ferris project that, you know, he started talking about on his blog.

[00:21:40] It's, you know, really kind of funny looking, uh, chickens, but it's a whole fictional, we are preveal here to just noting as we, as we record this, we are pre preveal. Uh, so, you know, who knows what may have. Post reveal. Yeah. Uh, well, I I did try to get one. You actually got one. Uh, it's sold at 0.3 and, you know, sold out in like classic in inside of minutes because there was like far more.

[00:22:11] Uh, I think marketing, uh, associated on it, uh, easy. Great marketer, isn't he? The guy knows how to market things, right? Like, you know, this is the person who, you know, made, basically made it under the scene with like a four hour work week, right? Where. , he actually came up with the title of that book after, like running a bunch of different ads to see what people would click on.

[00:22:32] And he is like, oh, that . So, uh, he's certainly been in the game and he has, you know, friends like Kevin Rose, who as soon as you, I think have him on your project in any way, shape or form, saying like, I'm gonna support this. Like, there's just a lot of institutional. Uh, and old holders that all just follow him no matter what.

[00:22:54] So right, you get the proof holders, you get the moon Bird people and anyone that just feels like they maybe missed out on those and still is a big fan. You know, I think overall we've, we've seen a lot of collections recently that I think speak to people that, um, maybe are of a similar age background, whatnot.

[00:23:15] To Tim Ferris. And you know, one of the things that he was great at with his marketing of his books was really understanding where to, to make it feel like he's everywhere in a specific community. And I think he's done that here. He's been on Kevin Rose podcast. He's been on, he's been on just, just all of the, the major, uh, n F NFT and Crypto Media

[00:23:37] Um, it's been on that tour and it's, it would be hard to not know about this if you're, you're in crypto. Um, This was, I mean, it was impressive volume here. This was a collection of 5,555 pieces. Pretty, I feel like we've seen a lot of collections going smaller recently, maybe with, you know, with the, uh, the editions of the market and, you know, this is a, this is a big collection sold out quickly, as you said.

[00:24:04] I think, you know, you mentioned that it was about 10% overallocated not clear to me that it. It was only 10% based on how quickly that went. Uh, I think it may have been more regardless. It's, I mean, it's, it's impressive that there was this much just waiting out there for this, this project. He, he's then acted as a collector in the space, although I, as far as I know, his wallet is, is not known.

[00:24:31] Um, but he has been at different events that reached out at the, uh, the, uh, Martha. Event for art blocks, um, as was Kevin Rose. Um, so, you know, he's, he's definitely been around and seems to understand a lot of the, some of the nuances of, of, of the NFT ecosystem and how to release a project. But this is, it's pretty different than from anything he's done before.

[00:24:59] I mean, this is a, it's a, it's gonna be a fictional. Right. With these characters. He's launched a separate podcast to, I dunno if you'd say to support it, but it's sort of about kind of the, the creative exploration of this project. Right? Yeah. He's done some unique things here. Obviously we talked about the item size, which is different.

[00:25:21] Uh, he has made it very clear, I, I don't think he's having a discord. Maybe that's, , he is promising exactly zero utility . Um, and like he's doing it like very much upfront, which, you know, if you look back pretty different than, you know, the Kevin Rose style of being like, oh, I'm gonna be sending you like all this kind of stuff.

[00:25:43] You're gonna get alpha into discord. You're gonna be part of this. Like, I think Tim is just like, look, I design some really cool, funny, uh, art that pairs with an entire, uh, story narrative that he's just going to launch and. Uh, whole podcast behind it. And so it'll, um, you know, it'll be a potential creative asset, uh, that he, you know, tries to, to build behind.

[00:26:07] And I see Gary Vaynerchuk trying to, you know, do this with, or talk about doing this mm-hmm. , uh, with, uh, v Friends, right? How there's gonna be stories associated with all these like little motivational cri critters running around business like, okay. Uh, This is, um, an interesting experiment. I was, I was frustrated.

[00:26:27] I, uh, I really did wanna get one, but now I'm, you know, sort of hawing this, uh, , this price. Uh, as it kind of comes down, I think there's like, uh, probably a lot. What are we looking at right now? We're at point, point, uh, nine, six. Um, and I know you obviously picked it up at 0.3 probably on Right? This wasn't, I mean, I saw at one point there.

[00:26:49] Solid sales at 1 1 5. And then it seemed to come back down to one three when I last looked at it, uh, before, before going to, to, to sleep the, uh, the night of, of the mint. Um, so it's come down a little bit. very, uh, I'm curious to see what happens with this. It's, yeah, it's very ex, almost the opposite of, of proof and what Kevin Rose has done in terms of not, you know, promising nothing.

[00:27:15] I don't know exactly what to expect, um, in terms of the project and it, and it's not, it's not the type of project that I would typically just jump into. Because of the lack of details and lack of clarity about what's going on. It's the Tim Ferriss name certainly is, is what's carrying this project right now.

[00:27:36] Yeah. Uh, clearly that's, that's in there. I, I do see that they did over 7 million in, you know, the first seven days and like, it hasn't been seven days, but it's been, you're sort of like aggregating a few days. , uh, whenever this comes out, I think it's also, um, it's interesting to see. I have never seen something of this volume, uh, go directly toward a nonprofit, uh, the Foundation, uh, which, you know, it is Tim's Foundation, so you're like, yeah, I did go to a nonprofit, but I think it's maybe slightly different what it is.

[00:28:10] Your own personal, basically like nonprofits, you're running. Right, right, right. Like that, I mean, yeah. You, you get go do good work. That's fun to do with it. And you know, there's something about, you know, try, you know, believing in what you're doing. But yeah, it's not giving it away. We're not going, it's not going.

[00:28:27] The Humane Society, I mean, again, look, there's a lot of oversight. Um, you know, because it's a, you know, they have to file as a public charity, uh, a nine 90, which you get full, uh, disclosures on how people are compensated. So you get the top three people that are compensated at the organization. Like my other, my other world is deeply in nonprofits, so I looking at this from that lens too, being like, holy cow.

[00:28:52] Like if, you know, had a celebrity in a way to, to do it, like guess what? Like he, you don't pay taxes when you donate all of that money to a nonprofit and then you use it operat. You made money. So one of the things that, you know, I would give you, I imagine if he's giving it to that, that's also giving money to a nonprofit, even if it's his, it is a filed, we could, you know, I have a, I have a nonprofit that I run and I could have a drop and I could send all of the money to that nonprofit and I could hire me, which I do.

[00:29:28] I work for it and I pay myself through it. I, I, I'm, I don't mean to be throwing any fud actually at, at all. I'm just looking at it can be done the wrong way. It can be, there's a lot of, there's a lot of variables in here, and we've seen cases where it's not done right. I'm not, neither of us are saying that that's the case here, or if Ferris is doing the, let me just take that clip, and we're like, well, hypothetically, , I think we've seen some issues where people have tried to, To maybe give money to certain organizations in the crypto space to maybe make things look better than they are.

[00:30:09] Again, not what's happening. It just can be done. Um, and it hasn't been done too, some pretty ridiculous, uh, degrees in crypto anywhere. Well, The other question that kind of raises in my mind here, um, is that, let's just be honest, like it takes money to build community, to build assets, to build that podcast.

[00:30:29] He's going to now all of the secondary sales, of which he gets 6.9% because he's a goofball, 69%. Like it's just funny, , 6.9%, uh, of the transactions that, um, you know, I, I don't know what networks are gonna. You know, allowing this, or not allowing it with author fees, but like, that's how that will actually generate its initial revenue, right?

[00:30:55] Like, although the guy knows how to run a podcast, I'm sure he can get ads on top of his, like, fictional narratives and like go from there. But that, you know, it is a very different thing starting a company with like just the royalties that come off of this versus like starting a company with 7 million, like, you know, that's headcount, right?

[00:31:12] that's head of marketing, head of creative, like, you know, the. Is, um, something Yeah, and you figure that most of those, you know, a good percentage of the royalties are gonna come in, you know, shortly after men. You know, as we, as we are recording this, it's really, we're less than a day and a half think we're about 30 hours, uh, from mid time.

[00:31:35] Um, so, you know, we've seen a ton of volume and, well, it's hard to say, you know, the, the number of transactions likely slows down. It's hard to say what's going to happen. The price. So, you know, you don't know what the royalty, uh, royalties will end up being. Um, you know, that being said, it is, you know, he's got a big project to run here.

[00:31:54] He is doing a podcast. He has, he, he announced the new podcast on his current podcast and said it was a. I think he said it was a 32nd promo for the new one. It was still a five plus minute recording because he fills those things with ads. He's real. If you've listened to his podcast, you'll know that man, there are a ton of ads and there are a ton of listeners.

[00:32:16] They pay some big money. Uh, he, you know, he's found a way to make it work and he's not. Yeah, we, you know, we just talked about how it's his own nonprofit also, if he. if, if things weren't going so well. That's a lot of, a lot of money he just raised, you know, he, he's clearly, uh, clearly doing all right otherwise, that he, that he can do something like that.

[00:32:36] I, I do expect that he'll be able to bring some of that to the, uh, the new podcast as well. Yeah, there's, um, you know, as I look at it, there's one wallet that has, um, like 10% of the project and it's unnamed exactly. and maybe tens like he may have just held on, he must have held onto it. So likes kinda interesting to be like, oh, there it is.

[00:33:00] Like none of 'em have moved out. Um, as far as I can see, they're just like all airdropped to this wallet. So, uh, you know, I wonder how much of that supply the thing or something. I would think. Yeah. So I mean, if you're in this project, that's like one of those things that we're looking at to be like, all right, what is the distribution of holders?

[00:33:22] and in a different world, right? Like, you know, you, if you have, uh, 10% of a project that will potentially just be sold along the way. Um, it's important to know that. And again, without a, a discord, I wonder if that actually kind of bites them a little bit because these people are gonna feel less of a camaraderie with each other, less of a connection and understanding of like, what's, what's being planned, other than like tuning into the, like , the podcast b.

[00:33:51] Right. Yeah, that's, that is interesting. It's an interesting, interesting choice not to go with the, the discord. I think we've feel like we've seen that from, from some of the Freeman projects recently. You know, obviously at 0.3, this was not a Freeman kind of, uh, I don't know. I think we've, I'm not saying we've seen the end of Freeman's.

[00:34:08] I just think, you know, people got maybe a little carried away with the idea that everything was going to be a free mint. And you know, more often I think this is going to be. I think most successful projects will actually start with a midprice because there is demand and it does give them something to play with, um, in terms of building afterward.

[00:34:27] Yeah, I um, think it's another example too. You know, your. You're able to see, like, here's somebody who has, you know, uh, a brand and trust. And so if you're a creator who has built up an audience and audience trust over a period of time, like this is a playbook. And we've seen it, you know, run, uh, many times, but like, you know, really, I can only think of the, like Gary Vaynerchuk, Kevin Rose, Tim Ferris, like, uh, you know, you get some other stuff out there.

[00:34:58] But in terms of like people that had. Large audience of podcasts, like running that type of play? Um, I, there's a lot more out there and I think there's a lot more creators that are like, at some point I know I'm gonna have to get into this game. Uh, I, you know, I think they'll probably care about not wanting to rug their supporters.

[00:35:17] Uh, so watching it carefully because Tim cares, uh, and has c. Uh, that brand of trust. So I, uh, I don't own one, but if that price, I, I'll, I'll throw a dart at it. I was gonna ask you, what, what is your, what's your target? My target on this 1.6, I think there's a lot of people in here flipping this thing. I don't know how he kind of fully distributed it out there, but I don't think, um, the Venn diagram of.

[00:35:43] overlapping. Tim Ferris fans and holders of this are, uh, anywhere near aligned, uh, right now. Yeah. There, you know, I feel like it's something, you know, there were a ton of raffles for this, um, across different projects and I, I get that to some degree that there's no way to, to really gauge how genuinely interested people are in the project.

[00:36:09] And I hope that we can find ways that people. Have interest. It's something that I think if is where an artist that had released things before, a creator that had released things before, it's something that maybe you can find people that are actually holders, take a, you know, take a snapshot, something like that, a little harder with brand new projects and I.

[00:36:28] I think you're right in that it ends up being just a lot of people that won and are looking to, to flip it, you know? And, and it's hard not to if you, if you don't care that much and you paid 0.3 and it's up to 1.3 the same day, or even one, it's a nice little nice little flip if you, if you don't, you know, for not doing much.

[00:36:47] Um, yeah, I mean it's a, it's a much bigger buy for, for. Like you that's looking, that actually is generally interested and now you're thinking, well, what is the right entry point? Because there are a lot of people still, still flipping. Yeah. Look, it's, it's also kind of very clear that like, you know, you try your best, but like there are people in here who clearly got like, 40, 50 of these things, and I can look at them right now.

[00:37:12] The top 100 owners, the number two and number three people had 47 and 58 respectively. And they are just constantly selling. They're just just completely selling into this market. And so, like, I, again, well that's the thing, right? Like maybe I, I don't have the whole narrative, but like I do and can look at Davis, I dunno.

[00:37:35] I, I, if it. Yeah, you can do some more digging. See if those wallets are connected to the, the, to Tim and the team. I hope not. Cause I, you know, that's something that definitely frustrates me when I see people that have access, um, early access or, or privileged access to, to a project and getting too much at selling.

[00:37:54] Cause I, you know, I'm not saying that you can't sell. , but I think that there's a, you know, there should be more of a lockup period for those that do have access. So I hope that it is not that case. Not saying it is, you know, we have seen it at, you know, in, in, in projects before. Yeah. I'll send it to you. I mean, it's like this person's, you know, made bank on this, you know, and it's clear they got a ton of these in the door.

[00:38:16] I'm seeing at least, uh, 20 sales. Um, and you figure they're probably about tripling if you know at least. Yeah. Looks he's tripling. Um, on that. Uh, so again, when you're Oh, this mic cre to the pros. You though Yeah. Think I might even know who this is. , he's gonna check. Make sure it's not a friend of it. He like, oh, nevermind.

[00:38:41] I think I, yeah, I might I know him. I mean, look, if you, if you get it, I mean it's not the do it. Yeah, but I mean it's the name. So wait, this, I did see this person buying a lot early, but I also think. Yeah, I guess I'd have to look at, you know, did they actually buy them or they, uh, you know, were they, did they mint that many?

[00:39:03] Um, you know, I, I would think that with a raffle we'd see a relatively, um, Why distribution to a large number of unique wallets? Hmm. I don't, doesn't, uh, doesn't always work out entirely like that. You know, as you said, there's this person, a lot of these, um, it's a, you know, at the same time, you know, there may, I don't know where this project is going.

[00:39:24] Um, it does feel like there is, there's a lot of demand and, and still people looking to get in and I. You know, I would think that the, there is a, I dunno, I don't see this one as one that's gonna be back to, to anywhere close to the midprice, um, anytime soon. I think, you know, it won't problem, it just won't, it just won't.

[00:39:44] I, um, I'm throwing a dart at 0.6. I think the other piece here is like, I mean, this was on my radar immediately. I was like so fast to get on like the white list. I've listened to all the stuff in the past. I think I, yeah, I think that's what you can really see. The fact that like, when you have those elements, Person, trusted brand long time in the industry.

[00:40:03] Probably a bit of a tech band, something funny, creative, something that they obviously put care into. And then that type of media blitz like, just try to get on the white list, you will make money. It's like, that seems now, will, should you hold it indefinitely? No freaking clue. But it's very clear when you have an over, like this is the old play when you over subscribe, drop with a, you know, a person or brand that's like trustworthy, like number probably go up.

[00:40:28] Yeah. And I think that's, what a lot of people saw a year. Um, you know, people went for this mint, whether they were ready to hold it for a long time or just flip it cuz it looked, I mean it's sort of a no-brainer when, when you see this sort of attention and, and we weren't the only ones that saw it. . Yeah.

[00:40:46] Well I, you know, it's disappointing cause you saw this, you, you did see this even earlier. You got on the wait list so early and I guess that's where I feel like shouldn't there be, you know, I, I won three through a raffle much later. Didn't have to pay much attention and, you know, It almost goes back to the days of when there was, uh, you know, just, uh, hustling and different discords to, you know, get on the lists and, and do all the different things.

[00:41:09] And, you know, you do see that there is something to that. Cause it, yeah, it takes time and like you put in the time and you get rewarded for that. Like there's no, you know, no way around that. And. Uh, I'm surprised he didn't have us, you know, pre-buy a, a book or something to help him get another , another New York Times bestseller.

[00:41:27] And, you know, I, I mean like, it's funny if he just, if he just did it, it was just, it was just almost nothing. It just said Cock Punch in the book and still I New York Times bestseller. It would've been pretty funny, dude, straight up, like, could have been a graphic novel. Like he could have gone ahead and like done it and be like, go buy this book.

[00:41:42] And you're like, all right, fine, I'll go buy this. Like, I'll go buy 10 of 'em, like Gary V did that. , like, I think v2, I mean there's a book drop. Oh, so this is already done? Yeah, yeah. No, no, no. Tim, Tim doesn't follow . It's like Damnit. You did it first. , I love it comes back to how many like trees. Can I like incinerate to make some books?

[00:42:03] Yeah. Yeah. Now that the blockchain is, uh, yeah, , I don't, I'm against books cuz it uh, hurts the environment.

[00:42:11] Oh man. All right. Uh, we had one other narrative here, like, I don't know, we'll come talk about it later, but it just feels like one long band-aid ripping event after another with, you know, various platforms and fallout coming. We were speculating before we turn on the mic, like, Whether or not Heather is on the track.

[00:42:29] Did we get anything right about this year? Did we get anything right about this year? ? No, I don't think so. I was so bullish. I did real predictions, but you know, I think we should, uh, maybe be more explicit about some predictions just so we can really see how bad we are, are. Did fair. We did talk about some of the themes, and I think we should try to go back to that at some point in one of our upcoming episodes.

[00:42:53] All right, that's a good idea. How wrong were we about the themes of this year? , who predicted the multi-billion. Frauds and blowups. Um, oh yeah, we, I mean, we have to do a classic prediction episode. I feel like that's just, everyone loves that, have two idiots guess of what's gonna happen, like Sure.

[00:43:14] Yeah. Did you, I mean, have you picked that? We were going to have just massive blow up after massive blow. Why didn't you let us know, and why are you still here listening to this? Because you should have been out of this already. So, , I, I just, I'm not gonna believe you. If you told me that you knew that was gonna happen, show me the receipts.

[00:43:36] should be on the chain. Uh, but yeah, I, I really kind of hope that like 2023 is less bandaid ripping, like just if tethers gonna collapse, just do it already. Like let's just go down, go down. Oh, it's not, that's not the way you, it's not the way that's all. Bandaid are ripped off . Apparently not. I mean, it's supposed to be like that, right?

[00:43:59] We are just slowly removing this, you know, as, as is constantly, uh, said in the, the x copy discord with anyone cuz it's just, it's max pain, you know? It's, it's, it's alluding to his max pain and friends that just cannot get back to. To, uh, min mint, you know, and it's, uh, just, well, that's the only, I would say, is this a fair, is this an accurate statement?

[00:44:24] Is the only X copy that is below its min price? I, yes. Also, coincidentally, the only X copy that I have ever bought at Min Price. Oh man, Jess, I'm just saying coincidence, maybe.

[00:44:39] Yeah, I like my, I I'm very proud to have an next copy. I'm pleased with that thing. Uh, it's, it's, you know, uh, I love the project. I think there's probably still board to come to it. And I still love the references of, man, you know, what is the max pain? That is what we will get. . Oh God. Yeah. Um, all right, well, uh, we'll go out.

[00:45:01] I'll have to go hunt. I feel like we did, uh, Our projections about what was gonna happen this year. So we'll go. We talked about some themes and you know, I know, know, gaming was gonna, you like music. I was all about gaming and at that period of time I had like some, like we doing really well with some of the gaming stuff and then, you know, everything imploded.

[00:45:21] Mm-hmm. . Mm-hmm . We were over the metaverse though, so. We were right. , we were over the Metaverse we're like, this can't go on. Oh yeah. You know's idea of what that was. And man, remember those, those virtual land prices getting up to 20, come on, . I mean, you do more than I do because I think you held a lot more of 'em than I did along the way.

[00:45:46] I, no, I mean, I had, I didn't have much, I didn't do blow on these at all. I think. I think you had a sandbox spot at one point, right? And I had That's pretty good. You had the NFT Worlds nfs that I, yeah, I, I, you know, I think I made like 0.3 on that. Sold that at 0.7 when I those got up over 10. I know . Yeah.

[00:46:11] Yeah. You know. All right, well, uh, see you out there. Leave a rating reviewed, drop into Discord. Maybe we'll, uh, do some horse trading. Literally. Yeah. Swap your worthless tokens. Help someone else out. . All right, see you out there.

Live from Art Basel | Project: SHiELD:AGE

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