All About Affordable NFTs

NFT NYC 2022 Themes & Highlights & Alpha?

 

Theme: NFT NYC 2022 Themes & Highlights

• Over 15,000 tickets sold, two days of speakers
• Hundreds of unofficial events

• Affordable project: Double down fewocious 

• NFT News
  • NFT Headlines: 
    • Shopify allows merchants to add utility to NFTs 
    • MoonPay Primes NFT Minting Service HyperMint - Blockworks 
    • Christie's NFT maven joins Yuga Labs to steward CryptoPunks
    • The 2022 NFT Awards - OpenSea Blog  

 

Transcript:

[00:00:00] Today on all about affordable NFTs. We are talking with Andrew about how NFT NYC went. I've been seeing it all over my feeds and in the news, I'm excited to hear how it went, but you're back. Am back I'm back home was, uh, are a lot of events going on and yeah, it was, uh, it was exciting to be there and, uh, you know, happy to, uh, get to talk about some of the events that were, were happening in the last few days in New York.

[00:00:30] Yeah. I feel like this is a blend between, we're about to jump into the news, but I feel like the news is NFT NYC, but I, I want to get into the particulars and just how it was to actually be there versus like what I heard some of the FUD and upside was. So let's actually, uh, turn toward things. Uh, we saw on the news this week.

[00:00:48] Yeah, we'll get into some, some headlines. Anyway. Uh, so first off we've got here that Shopify has rolled out some new NFT integration features where merchants can add, uh, what they're calling it, add utility to the NFTs, but they're able to, to token gate, uh, certain products on the site so that you'd have to have the NFT to be able to buy it.

[00:01:09] Um, so I think that's a real big thing to, for Shopify to. Uh, give two merchants. Um, it makes it super easy for anybody really to be able to use an NFT as a, uh, token to gate specific merchandise, you know, be able to offer certain things to only holders of NFTs. And, uh, that's a big step here. That's massive.

[00:01:30] I mean, this is a huge eCommerce platform, web two, adopting web three tech and really driving home the upside of access and utility with a capital U. That is gonna open up a lot of interesting, uh, interesting tie-ins right? Cause you can control certain types of membership. And as, as much as it makes me roll my eyes, when I see merch as like a utility, there is actual actually an ability to say, Hey, here's a physical piece of art that you can get and the NFT and they actually go together and here it is wrapped in a perfect package for you.

[00:02:09] I think there's a lot more behind this one. And also Andrew, for those of you keeping score at home, the wild and crazy idea of allowing NFT access to be validated as part of the native technology, uh, Shopify one discord, none. Just if you're keeping track natively, it's a good point. Good point. Yeah. Yeah.

[00:02:30] I mean, this is, I've been a big fan of shop buy shop, buy for a long time, because of all the, the way they keep adding more features. And I think this is helping them not just stay relevant, but really give their merchants. Tools that many others are not yet able to, to do, to offer. And I think it's gonna be some time till you see a lot of big companies start offering these, uh, token gated types of products, but you know, small, small merchants can start getting into it right away.

[00:02:57] Now you, I mean, you ran a whole eCommerce store, you know, the game, maybe it's time for some, uh, some three, a merch start getting that's right, man. Roll it in. All right. So next headline here. We've got moon pay. They have, uh, they're starting an minting service. So at the, uh, founder of moon pay Ivan Soto, Wright was actually on stage at, uh, NFT, N Y C and demonstrated some of those technology.

[00:03:19] But, uh, they're rolling out with partners, some big partners here. So they've got, uh, Fox, um, creative artist. The universal pictures, um, some other, uh, music, uh, partners as well. So they're rolling out with some pretty big names. Um, moon pay has been, um, pretty big in getting people, onboarding, uh, people from Fiat to crypto, um, and interesting that they are getting more and more into the NFT space here.

[00:03:46] I'm not quite sure what this means. Other than I know moon pay has traditionally been like one of those leaders in saying, Hey, here's an on. I'll be honest. I've never gotten moon pay to work for me. It is always bugged out and I have tried it on seven non-con consecutive occasions. Well, maybe this will work better.

[00:04:08] This will work better. I, Hey, I'm gonna try again at some point. All right. So this next headline, we've seen some big movement in the crypto punks market. Recently, the, uh, the floor had gotten to under 50 E and then they started getting snatched up and then word came out that, uh, they have. Uh, hug labs has appointed, uh, Noah Davis, formerly of Christie's as, uh, the head of the crypto punks project.

[00:04:34] So he helped bring crypto punks to, uh, Christie's as part of an auction there, um, and has been part of that community by punk holder for some time. And, uh, you know, I think this is a good move from somebody in charge of that crypto punks project, because it did seem like they, after they acquired that. P it got somewhat lost among all of their other projects that certainly are taking much more of their focus.

[00:04:56] So good to see that they are putting someone in charge that understands the history of crypto punks and what they do mean to the, uh, NFT movement. Yeah. Yeah. I don't think that that goes away ebbs and flows, but I think, you know, the, the window where you could have grabbed a punk for a mere $50,000, if you figure the sort of like where the prices intersected, uh, maybe, maybe something we note is like, oh man, that would've been the best investment ever or we'll see.

[00:05:26] Yeah. We'll see. We'll see. . And then, uh, so last one here is the 2022 NFT awards. So this was part of NFT, N YC, um, open sea helps put this on. And so I attended some of this and I. I mean, you can check that the link here for some of the winners. I think a lot of the categories seem sort of, um, like, they were just made specific to give to specific projects in many cases.

[00:05:54] Um, and it seems sort of, um, I'm not sure that this is something that the industry is, is looking for at this point, because it wasn't very well attended. And, um, you, like I said, they. They seem to come up with with awards that would fit or fit, uh, certain winners, most of the winners, weren't there to accept the awards anyway.

[00:06:14] So, um, a little disappointing overall to that, but, um, maybe not necessary. Well, wait a minute. Top gaming collection by transactions Z run. I'll tell you what highest volume collection on the polygon blockchain Z run. Best NFT artist was X copy. Oh, best emerging NFT R uh, artist. Uh, FIUs that's one. That's been on our list.

[00:06:40] I'm there's we have best NFT artists, best emerging N NFT artists and best established NFT artists, and then best digital NFT artists, best non, I mean, these are, you know, I get some of these, you know, there, but hold on. There's one at the bottom here with the best NFT podcast, using three A's in it launched in 2021 run by.

[00:07:01] Two crypto dads. We won it three a oh man. We got it. We got it. we got it. I love it. I had you for a second for yeah. Yeah, no, no, I'm sure. Um, you know, people are checking now though. They're checking that link. See if we got anything and um, no, but best NFT media rug, radio. I mean, we've mentioned, uh, the rug radio folks before.

[00:07:28] Very interesting platform and recommend that membership one. Yeah, it's definitely worth browsing through. Um, you know, I think maybe, maybe this will start to develop a little further if they do continue with this, but, um, definitely needs a little bit more, a little more marketing around it to get people more excited about it, to, uh, for it to, to expand and, and grow.

[00:07:49] Yeah. All right. So the NFT NYC, I, I saw there were over 15,000 tickets sold, but some news showed, like there were like 50,000 people. I'm kind of confused as to the attendance numbers of like, were there larger events that. I don't know, you know, I, I think there are a lot of, I mean, there were hundreds of unofficial NFT NYC events, so just events going on around the city, um, that were going on during the same time, but weren't part of NFT, N YC.

[00:08:21] So I think in many cases there were probably people there that weren't, that didn't get a ticket to the event itself. Um, I did have a ticket and went to some of the events. Even that I was really only able to get to, to a handful of those just because there were so many other things going on that I was also trying to get to.

[00:08:38] And, you know, there were a lot of these, uh, I mentioned this before, um, in our preview episode, but there were a lot of, uh, physical galleries that were showing pieces. And that was something that I was trying to prioritize, getting around to, and, and seeing these pieces. Being displayed on some pretty impressive, uh, impressive setups.

[00:08:56] Um, but I think that's probably why the numbers, uh, vary a bit. And, you know, we also don't really know how many people ended up attending. I'm sure there were, there were people that did not attend, uh, after getting a ticket, you know, maybe based on some of how the market has moved. over the last few weeks here.

[00:09:13] So, what was the sentiment? Was it a depressed Fest degens drinking? I heard some jokes about how this was like basically college, where people went to learn nothing and drink their sorrows away and stuff. what, what was, what was the vibe? You know, I was worried about the vibe, you know, definitely in part because of the market and wasn't sure what it would be like.

[00:09:31] And, you know, for the most part, it felt like people were still pretty, uh, pretty optimistic, you know, maybe not about the price in short, in the short term. I think people are pretty optimistic about all of the things that are being built. You know, you still see that it's bringing thousands of people, you know, whatever number that is, but it's bringing thousands of people together, um, in ways that really weren't happening before this.

[00:09:53] So I think there, you know, the people that do show up, they're pretty committed to, to the space. And I, I think they're, they're seeing that. There's still all these events going on. There's still companies here. There's still building, you know, there's, there's, there's a lot going on. You can see how this event, I mean, I see how the event has changed just in what is it?

[00:10:11] Six or seven months from the, uh, the last one that I was at and how much more, uh, how much more knowledge there is about NFTs from the outside. We're still, you know, as we know, we're still a long ways from, from where most people understand them and it's, it was encouraging to me to see that so that people were weren't thinking, uh, you know, thinking like this all might really go away.

[00:10:35] You know, I think we've, we've talked about how it feels like there's people just continuing to, to, to build things so that when. When something does turn around, like all, everything works. It's all people are here. There's collectors that understand this there's new platforms all the time. And, you know, I think we're seeing that there's just more and more, uh, more and more infrastructure being, being built right now.

[00:10:56] And, and that was definitely, uh, being talked about a lot at different events that I was at, you know, I wasn't, well, I, I didn't get to any of the, a Fest events or anything like that. I'm sure that had a, uh, had its own culture. Um, You know, I can't comment on. So they took over the south street Seaport, they had a giant ape down there.

[00:11:14] They, it was like inflatable and they'd like took over a ship or something. Oh, okay. I knew that there was a, uh, NFT, there was a big outdoor event, uh, music event down in the Seaport area. So I, maybe they were, uh, you know, trying to make sure it was seen by many others that maybe did not have tickets, you know, did see some, some, uh, signs for ape Fest around some, some apes spray painted around on.

[00:11:41] Sidewalks, um, promoting the event, I guess, or, you know, trying to, I don't know if it's as much promoting it or trying to make people feel like they're, you know, trying to induce. So some FOMO it's all FOMO. So FOMO based economy. Yeah, we, yeah. Right. We do know that FOMO is a big part of NFTs and oh yeah.

[00:11:57] That's part of the utility. Um, the ability to spread to spread FOMO, um, like agen, I'm curious too, because you went to the last NFT NYC six months ago was. Or it was, it was let's see, like early November. It was. Yeah. Um, so yeah, this was, this did come pretty quickly after that. well, what I mean then, and now how would you compare?

[00:12:19] Are they stepping up their game? Are they just playing the hits? Is this, is this, uh, increasing in momentum despite the market overall? Yes. I mean, the event itself was, you know, there are there's over a thousand speakers. I think they said over 1500 speakers. And the idea is to try to get as many, to give as many people, a voice as possible that does become, becomes a lot as an attendee to try to find the events that you AC or the, the talks that you actually want to go to.

[00:12:49] And I hope that they would, that they will start. Being a little, they, that they do a little bit more curation with their speakers. I mean, I understand that they want everybody to have a voice, but I think we need to help the people that are attending by giving them some, by narrowing it down a bit. Um, but outside of the official event, I think it's, it's really growing.

[00:13:11] Um, there's more and more, there's more and more interest in. Companies, and you're seeing these other galleries pop up. You're seeing, I mean, there's, there are these parties. I mean, for pretty much every collection it's, every big collection seemed to have some event somewhere. Um, and that's that wasn't necessarily, there were a lot of parties at the last where a lot of events, a lot of projects had a presence, but it felt much more substantial this time in that.

[00:13:35] Anybody, any of any project that really wants to be serious, I think has, you know, almost you have to kinda, you have to pay to play and then you have to have a party and it has to be admittance, you know, with your Ft. It's, uh, I mean it's showing value of membership and that's kind of where they have to, to, to flex a little bit in our discord.

[00:13:56] You posted what? Just looked like an epic picture of the fallacious. Party. Oh man. Yes, I should talk about that ferocious party. That was cool. So that was over in Brooklyn. The only time I only time I had to get outta Manhattan but I I'm sure there are some other Brooklyn events going on. Uh, but it was, it was a really cool event, big warehouse space.

[00:14:17] It felt so well done. Like, I mean that you can see that they have done this before, but a. Very just professional check in it's it almost felt like a theme park as you're going through the line and it's got a road on the, um, on the little, you pretend road on the, um, that you're walking in as you get in line and you can go get your, your hazmat style suit to cover up and go, go to the paint store and get some different paint.

[00:14:42] And there's all. Did you get a different amount of paint or anything different because of the NFT you held? Or was it just like knit one? All, no it, oh, okay. Yeah. Yeah. I was like, you get two spray cans or one spray can, yeah, that would've been interesting. 15 spray can that, you know, in the space, it was just these giant CA canvases, um, that anybody could paint on and you could see the ones that were there from the morning session, uh, that those were all drying there.

[00:15:06] So it was, that was a really cool event. I think that's such a. Uh, I know such a, such a great way to get people into the space and a very different style party than than all the, than most of the others that we're just about, you know, being at a bar. I hear you. I hear you, uh, a little bit more though, cause I'm always curious about what types of collections bring, what types of collectors and is it basically the same crew?

[00:15:32] That's. taping into absolutely everything. So you see the same faces or were there really, like, if I were to put, you know, those people in one room and be like, oh, those were probably fallacious people or those were probably degens people or whatever it is. Hmm. That's a good question. You know, I did run into, you know, I ran into some people at many events, many different events.

[00:15:53] Oh, you're gonna name drop so hard. I'll I'll allow. Cause I'm excited to hear what they said. No, but could you, could you pick a collection by the collectors if I just put 'em in a room without any other info on you? Um Hmm. You know, it, it was, yeah. I mean, furocious, I thought was a, a, a more diverse crowd than, than I, than I say in the, and I, then I seen a lot, then I saw a lot of the other parties, I guess.

[00:16:19] Um, and I mean that in like, I mean, also, I guess I was at a lot. Events that were somewhat similar. Some art blocks events at, at Samsung. And they'd had a lot at the Samsung building and they had a lot of similar people going to, to these events. Um, you know, and I think there, but there is kind of a, I mean, I've.

[00:16:38] Seen in the past that there's definitely, um, the generative art collector seems to be a little bit older than, um, some of the, the PFP than most of the PFP projects I've found, um, for was, has had a big range of the big age range. Just big range of. Backgrounds of people like had, that had gotten into crypto in different ways I felt than, than some of the other places.

[00:17:02] And I mean, I, I like being able to, you know, in a lot of these events, you're, you're waiting around for a while to get in. So a lot of talking with, yeah. Was there a lot of, a lot of waiting in lines? I heard some flood being thrown around being like, oh, they weren't ready to like process people and was like, More of a headache getting in around it should have been, you know, when I, when I had to check into NFT N YC, it was a, I went to the hotel and then at the Marriot marque, uh, outside times square, right by times square.

[00:17:27] And, uh, what made the mistake of going to the hotel and then realizing that the end of the line was a good block and a half away. Um, so that was, but it, it did actually move pretty quickly. Um, so I was, I was impressed about how, by how quickly they were getting people through. I also feel like maybe we could move away from.

[00:17:49] Having to pick up a badge and maybe use some other system for ticket technology device, but how would you prove that somebody owned the ticket that they had? I can't think of any way possible, only, and well, like what if somebody co duplicated it? Uh, how would you, yeah, we just need to prove digital ownership of this somehow.

[00:18:11] Huh? yeah. I don't see a way to do this. Um, yeah, so it would be really, that's another thing that it would be nice, you know, in other places have definitely had had some lines, you know, there's some of that, but you know, it was, uh, Um, couple of the, the physical gallery places that I got to included a gallery, uh, that's owned by, uh, Adam Lindeman, a big art collector in the traditional world.

[00:18:32] And then he's been getting into squiggles and they had about 300. Oh my gosh. On display there. I sell you on a squiggle so hard. And by the way, you dropped that tiny thing about, so CREs on, cause I've been trying to save up for my squiggle and oh, I know those really. So Florida have run. Yeah. Those, those well went from five E to 10, eighth, and now we're officially.

[00:18:50] We're we're out there. Yep. It's it has run up. Um, let's see if the other, I was super rare. I didn't have the guts. I didn't have the guts to pull the trigger. If I was my, my reserve price was under five and it was like five and a half. And I'm like, I'm not doing it. Yeah. They, they, it was one of those ones that I guess people were waiting on for the once the E price dropped.

[00:19:13] I think, I think it's all those people listening to three a, they know they're I should stop broadcasting my. That's probably it they're front running. Yeah. It's definitely what it, what it is. So you talked to some, go ahead. You talked to some awesome folks. I saw, you said you actually, uh, talked to snow and coldy yes.

[00:19:33] Yeah. You had to talk to, to snow, Eric, uh, Eric. Snow pro he's the, the head of art blocks, the founder he's the, the, the artist behind the squiggles. Um, yeah, it was really good. Great to talk to him. I had never actually gotten to, to talk to him, uh, face to face before. Um, that was cool. He's really, I don't know, just, he's a great understanding of the, the space and he's just so excited about all these people that are showing up because of the project that, that he started, you know, last November or November, uh, 20 2020.

[00:20:07] Getting that right. In 2020. Um, and you know, now he's looking at this giant 30 foot screen and showing off all these generative art pieces, and he's got all these great artists there and all these collectors there and, you know, it was pretty, um, it was a cool, cool event to, to see. And, you know, he was obviously pretty proud of, of what that, uh, platform has grown to, to be.

[00:20:27] And, um, yeah, coldy was another one I've I've I've mentioned him in the past. I'm big fan of coldy. Um, so I. Got to meet him at the, uh, last FTA NYC event. Um, it's good to see him again there. I think I actually ran into him at an X copy collector meetup. Of course X copy was not there as he is a anonymous artist.

[00:20:47] A non yeah. Yeah. And we're still working there, but you know, we've, I think, uh, artists, it can, it can probably work better than, uh, teams behind a project anyway, but, um, That was, yeah, that was cool. Getting to talk to, to people. What was on their minds? Like where, where do they see and how do you think they're spending their next, you know, 100 to 200.

[00:21:09] I, I mean, they're, they've been through, they've been, they've been in the space for so long that, you know, I think they've, they've gotten, they've been on around they've, you know, they were doing this when nobody was paying. I mean, coldy especially was doing, it was when nobody was paying attention at all.

[00:21:23] Nobody really knew what NFTs were and certainly not, you know, for. For art, like the key produces, um, you know, is, you know, people were, were aware of crypto punks and, and that PFP kind of thing. But I think he's been a lot, been a big, um, just big artist in, in, in being able to, or he's wait, sorry. What he impresses me is that he could.

[00:21:44] Continues to create when nobody's paying attention, but he also understands the history of the crypto culture and he, he gets this side of it and, you know, he's excited to just keep creating more art and says, he's collecting a lot of stuff right now too. He said he just picked up, uh, a couple OUS pieces and he says, you know, he's a big collect and, um, So I think that's, you know, that's also encouraging to hear, you know, he's, he, he's looking at this as a buying opportunity right now.

[00:22:10] And so for RO well, just the paint, right? His paint is his main thing, but does he have actual other projects floating around on like other, like. Yeah. So he's done a couple other drops on, um, on nifty before that paint drop and then has some, I know it has some super air pieces as well. Um, mm-hmm or one of ones, and it's a lot of this style.

[00:22:32] Um, he actually did a shoe with artifact before they were acquired by Nike as well. Um, so it's got his say white shoe that has the, you know, paint. Painted his style, but you know, it's a, it was a you that, I mean, I think that's going to be a, a good collector piece over time, you know, as it is that artifact before it was Nike, you know, one of the early projects there and, and one of FIA's first, uh, projects too.

[00:22:56] So yeah. Um, he has a few pieces like that, uh, that are, but we don't have an affordable project for you, but you know, that's great. We got, we got a little double downs in here. We're, we're dropping a lot of. I think enough alpha in these conversations. So we'll, we'll leave it in that actually. Um, but like maybe hunt down some of those pieces and take a look at it.

[00:23:14] Um, and then for snowflake, like any idea, like the vision for, for art box, I feel like it's hard to maintain momentum, honestly, when you burn that hot data early, um, you know, how is how's he feeling about they? I think, you know, it's been a lot of learning, um, for them. Last summer, everything, every project that was put out would mint out immediately and the floor would run.

[00:23:40] I mean, and it was for every project, even the, the RPL factory projects, which are generally not, not quite as highly desired as the, the period projects I would say in general. Um, but it was, you know, and then after that, I think they maybe. Were the projects, they were minting, maybe too many projects. And the sizes got a little too big because they had gotten used to everything minting out so quickly.

[00:24:05] Um, so when, when things did change, there were more projects sitting around with. Incomplete. They still had a lot like hundreds of pieces to mint and, you know, it's hard to, hard to build momentum when you're doing it that way. So they have really tried to pair down the number of collections they're doing and how many pieces are in the collection.

[00:24:23] Um, they did one just the other day as part of, uh, opening their art blocks gallery at pace or sorry, pace gallery at art blocks. Um, that was 196 pieces. And I think. That like 1.5. And it seems like they're doing this much more often now and going, yeah, they're reducing the quantity, tightening the quality and really it's about the curated, just to, to note in the art box line, you have the, the curated game, which is like much higher tier from the selection and availability versus the projects, which is just much more open and easier to, to apply and then through.

[00:25:00] Yeah, exactly. Yeah. So they, I think they've, you know, He's recognizing, you know, that they're learning from all this, but, um, you know, it was also, I mean, part of what was really cool about being in that Samsung building was Samsung is showing off their tech. Um, so they've got their 30 foot screen showing these, these art blocks Mo you know, moving pieces and, you know, standing right next to it.

[00:25:21] You really couldn't see any of the pixels. And, you know, he was excited about that aspect too, of just, you know, where we're going with being able to display, display these pieces. Not just on our, on our phones or our computers, you know? Yeah. Any other cool tech that you saw there or any, um, any, any fo I just imagine a lot of shilling, uh there's there is a lot of shilling and you know, all the way all the time.

[00:25:44] Yeah. And you know, there's even a lot of that on, I don't know, on. In places where it didn't necess surprise me at times, I guess. Um, during some of the, uh, the talks, how much there was just people trying to show projects or show new new tech. But, um, maybe I shouldn't be surprised by that. That's all. Did you, did you buy anything?

[00:26:02] I didn't see any action on your, on your wallet, you up to anything? No, I feel like this is, this is probably, uh, slowed. Slowed the pace of NFT sales a bit with bringing all the, all the collectors to a place in real life, you know, and we're supposed to put that back into our, our separate corners and get in our computers guys.

[00:26:22] The market's dropping. You gotta go home. You can't stay here. You don't have to go home. We can't, we gotta keep buying. Cuz the market' yeah. Stalled from one conference.

[00:26:30] All right. Would you go again? Yeah, I think I, I would, and you know, I was, I was wondering, um, I was thinking about that recently. I was kind of wondering if they'll start expanding this into more days just because it is, there's so many events right now, and there's so much overlap, um, that it feels like it's going to, to grow in some way.

[00:26:50] Not that I want to go for longer, but it's you, you see how it's just, it's, uh, it's really growing the number of events and, and the number of people that are, that're interested in this. So I, I would definitely go. Yeah, well, something tells me they're gonna have another one in six months. So yeah, it's a crypto year, right?

[00:27:09] just keep, keep, keep going. Um, all right. Anything, uh, takeaways that you had from the, the conference? Any, any other moments of alpha. Or beta? No, unfortunately, you know, I wish I had more alpha to share, but, uh, you know, it's, you gotta be careful what , what you take away from, from everybody's shilling, right?

[00:27:30] yeah. Let's just see how the, let's see how the, the market plays out first. All right. Well, very cool. Thank you for sharing all that. I feel like I got a little idea of, of how it went. I'm gonna go to one of these eventually. I'm gonna. Gonna wait till they figure out ticketing though, when they have the technology, right.

[00:27:51] someone can come up with it, right.

Hodling Art During Historical Bear Markets | Project: Nike CryptoKicks

Theme: Hodling Art during Bear Markets

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• NFT News
  • NFT Headlines: 
    • Launching Seaport & Saving the Community Millions in Fees - OpenSea Blog 
    • US NFT trademark applications surpass 4,000 in 2022
    • LimeWire to launch original NFT collection | CryptoSlate 

Colorado Governor Jared Polis is fundraising with NFTs - Axios Denver  

Staking NFTs with NFTX.org | Project: Kaiju Kingz

Theme: Staking NFTS

• How to stake nfts for return?
  • http://nftx.org 
• Why should you do it?
• Downside?
• Affordable project: Kaiju Kingz, https://opensea.io/collection/kaiju-kingz

• NFT News

• • NFT Headlines: 
    • Discord gives servers a way to intercept spam and harmful content, will expand premium memberships | TechCrunch 
    • An NYC office building put up for sale as an Ethereum NFT lost $12.2 million in value over 2 weeks. The owner says they'll relist
    • Anna Delvey Is in the NFT Business Now  
    • Team behind Words with Friends raises $46 million for new gaming venture on Polygon 

 

If you are listening to this you’re a Degen | Project: Akutars

Theme: NFTs in the Crypto Bear Market ~ If you are listening to this you’re a Degen

• If you’re still interested in NFT gambling when markets are down 80%, bravo you’re a degen. 
• Remember when you *wish* you had gotten in early on Punks and were collecting when the OGs had… Wish granted
• Macro economic changes have hurt crypto, exacerbated by crypto liquidity issues many cos/funds overleveraged
• Volume surged for a few days and then returned to lower levels
• NFTs are now more affordable in dollars and still valued in ETH
• Possible paths moving forward
• Don’t leverage crypto

• Affordable project: Akutars (wait for a good entry price) https://opensea.io/collection/akutars 

• NFT News
  • NFT Headlines: 
    • Celsius Lending Platform Suspends Withdrawals and Transfers - Blockworks 
    • Free-to-Mint NFTs 🆓 - by William M. Peaster - Metaversal 
    • Mastercard brings its payments network to Web3 and NFTs 
    • Truth Labs Revealed as Team Behind Goblintown - The Defiant 

Stop calling everything a Ponzi | Project: End of Sartoshi

Theme: Stop calling everything a Ponzi

• • A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers. Elements:
    • Fraud or illegal activity
    • Using money from new users to pay existing users
    • The promise of outsized returns
    • Lead by a charismatic salesperson
  • named after Charles Ponzi. In the 1920s, Ponzi promised investors a 50% return within a few months for what he claimed was an investment in international mail coupons. Ponzi used funds from new investors to pay fake “returns” to earlier investors. Ponzi Schemes | Investor.gov.  

• Affordable project:  https://endofsartoshi.xyz/#   - Myth47  

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Justin Aversano Launches Brand New Physical NFT Gallery In LA 
    • Jake Paul-shilled Animoon NFTs Turns Into A $6.3M Rug Pull
    • In New Approach, Big Law Firm Uses NFT to Serve Court Papers on Anonymous Defendants | Daily Business Review 
    • Salesforce takes crypto plunge with new NFT cloud | TechCrunch 
    • PartyBid creator PartyDAO raises $16.4 million led by a16z 
    • mfers next era & end of sartoshi  

Is GameFi dead? | Project: Connectivity

Theme: Is GameFi dead?

• Many predicted a big year for play to earn and GameFi
• Halfway through year, many projects have followed Axie’s path, with lower peaks
• Trad gaming remains largely against NFTs
• More time needed? Or time to move on?

• Affordable project: Connectivity by Tallzy (on Optimism)

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • NFT game Illuvium raises $72 million in digital land sales
    • The Red Village Announces $6.5M Seed Round Led by Animoca Brands and GameFi Ventures Fund | The Paradise News
    • Budweiser's Clydesdales Zoom Into Ethereum NFT Racing Game Zed Run - Decrypt   
    • Epic Games Store will host its first web3 game this year 
    • Tightly Curated NFT Platforms Are Opening Their Doors in the Wake of The Crypto Slump 

New NFT Legislation??? | Project: Degenz kids

Theme: Legislating NFTs

• New proposal released this week from Senators Gillibrand and Lummis

• Most crypto products would be treated as commodities, not securities

• NFTs are a new asset class, with further clarification to come

• no taxes on crypto transactions under $200

• Affordable project:

• https://www.degenlabz.xyz/ - Block_Bounce

• • • https://opensea.io/collection/dgnkdz 

•  

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Crypto Legislation Is Coming Altcoin Buzz 
    • Bitcoin miners urge New York's governor to veto moratorium passed by the Senate 
    • Bored Ape Co-Founder Blames Discord After A 200 ETH Security Breach 
    • Forget the Crypto Slump -- Pace is Furthering its Web3 Ambitions by Partnering with NFT Platform Art Blocks 
    • Ethereum's Ropsten proof-of-stake 'test merge' goes live 

 

Transcript:

 

[00:00:00] George: Today on all about affordable NFCS we're talking about legislating, non fungible tokens. There may be actual, real semi coherent policy making its way through the bowels of our government, which we can cover the high notes and share with that. But first, Andrew, how's it going? Anything new in the wallet?

[00:00:24] Andrew: Oh, new and the wallet. Uh, man, I wasn't actually ready for that. I did pick up, uh, our blocks most recent. Um, it was recent curated piece. Uh, most our curated collection as a collection of 500 a day picked up one of those and luckily was able or picked up two of them was luckily, luckily lucky in my, uh, mince and got one re uh, rare gold one in there.

[00:00:47] So I was happy with that. Um, kind of a cool piece that it, uh, They all generate noise from them. And it's a, there's a digital piece to it, but it doesn't actually loop. So it's, it's interesting. They're not, um, on the surface as just individual pieces, they don't look all that interesting. But we, when you dive into it a bit more, it's, uh, there's more going on there.

[00:01:08] So how about you, you pick up anything.

[00:01:10] George: Well, a couple of our projects, which I'll disclose, uh, a couple of deejaying kids and a admitted, uh, and to start Tosha, which may come up as a future project, but I have disclosed it and we shared it in our discord. I also, for whatever reason, I can't, I can't say no to two breeding horses. I got a couple, I got a couple of mayors that are just fantastic horses and I just keep breeding.

[00:01:32] I'm not sure why

[00:01:34] Andrew: you got to do

[00:01:34] George: not even, I'm not even naming them yet.

[00:01:36] Andrew: you gotta click buttons. You gotta put transactions on that chain. It's just, uh, it's, it's addicting. You can't get away from it. So even in a bear market, you gotta find something to do, right.

[00:01:47] George: Yeah. I want to be clear there's there's no, there's no window to profitability. Unless one of them ends up being like the next, the next great hype, um, which from a probabilistic standpoint is a low breed, decent horses, but it's been rough and the old pony game anyway, let's uh, what's going on in the news.

[00:02:04] Andrew: Yeah, well, you know, it's been, been awfully quiet out there for them in terms of trading overall volume has been low, but we do have big news. As you mentioned, we've got. Uh, some legislation that was proposed this week, a bipartisan bill coming from senators, Gillibrand in littleness. Um, so we will get into some of the details of that later, but it is, um, it is nice to see that there's something going on here.

[00:02:29] Um, General. It was one of the big things. So for NFTs is that we're going to seem to need to wait and see how these, uh, how inept use will be, will be treated, what they are looking at, creating a new asset asset class for NFTs. So that is that's interesting, you know, we don't know what that means quite yet, but it does mean that there's not really something out there that seems to be a good fit for what NFTs are.

[00:02:54] And I would tend to agree with that.

[00:02:56] George: Yeah. Well, we currently have is not working so hope. Hopefully there is some intelligence coming.

[00:03:06] Andrew: We'll get more into that later on. Um, so another bit of, uh, sort of legislative news here. Was it New York? The state, just a, um, they passed eight are they let's see, they are going to continue. Putting him with a moratorium on against big claim of minded usage in the state. They will not allow Bitcoin mining in the state.

[00:03:30] So I, I do find this interesting. I don't see many other, uh, technologies or use cases of electricity that are generally, uh, forbidden. there being other reasons that they're breaking the law. So, um, this is interesting, you know, we'll see, you know, I'm sure that there are what we've already seen, that there are other states that are quite welcoming to, uh, to minors.

[00:03:54] Um, but you know, that's also quite a change at some point to at least for, for the Ethereum mining world. So, um, interesting. That this has happened. I think this may, you know, we'll start to see, we've talked about this, how it just becoming a bigger political issue. I think that crypto will become a bigger issue as we go here.

[00:04:14] George: Yeah. In general, when you find yourself limiting the freedoms of what Americans can do with public utilities that they pay for, um, Americans don't tend to. It's not a thing. They, uh, they really rally behind.

[00:04:26] Andrew: No. Oh, and it would not be a podcast episode without talking about a scan and of course, board apes. And I don't mean that those always go together, but we do see a lot. We do see a lot in this time was it was a 200. Security breach after someone gained access to their discord, posted a link for minting, some sort of new project.

[00:04:49] Of course, people Abe right into that, uh, before verifying if it was a legit link or not was not spent 208th. So, um, one of the board, eight founders after this came out and blamed discord security on this, you know, at seams. Uh, I don't know. It seems like board the board ape or the Yugo labs team seems always seems very quick to point the finger at someone else when something goes wrong.

[00:05:18] A lot of other projects have had these issues happen and they take responsibility and deal with it. And you know, it's certainly not the first discord scam that we see not going to be the last and it's not unique to subordinate.

[00:05:33] George: So for those of you keeping track, it was a theories fault that they duffed the mint and there were problems there. So they're gonna build their own layer. Uh, it was probably Facebook's fault when their Instagram got hacked and people got stolen. It's now discourse all that. They lost their passwords and password management for it.

[00:05:53] So right now, just to keep telly at home on their to-do list is build their own layer. One, build their own massive photo sharing website and mobile app to compete and basically fix what's wrong with Instagram and all. Recreate discord, a, a massive online community for secure, uh, conversations in groups.

[00:06:13] I feel like they got a great roadmap here.

[00:06:16] Andrew: Yeah. I mean, I think I've seen this playbook before, you know, startups that just decide that they can take on everything in the world because one thing's going well, it's it usually works out quite well. Right. Is that, is that true or do they

[00:06:30] George: I never read to the end.

[00:06:31] of any story or book. So I'm always on the, like the heroes rise and never get to the conclusion of anything. So I see nothing wrong with this pattern of behavior.

[00:06:41] Andrew: good. Yeah. All right. Yep. So Turkey's doing well too, right? Never get to the end. What their,

[00:06:50] George: No spoilers.

[00:06:52] Andrew: all right. So actually I should mention that the board ape community. The, or the dowel or the members of the Dow. So those are eight token holders just voted against the proposal to move to a new chain or to start their own chain, whatever it was, they want to stay on the Ethereum network. It was a relatively close, uh, vote.

[00:07:14] I think it was about. I came on 55, 50 7%, uh, against moving off of a theory them. So there were a couple of large holders. I think there was one that actually had about 17% of the votes. So, um, he realized that ha only takes a few holders to, to really swing things there. And, uh, they are staying on Ethereum, which as we've said, I think is the right move.

[00:07:34] That's where they got their start and it has helped them immensely. So I think that's good, but you see a large part of the community still wants to leave the network.

[00:07:42] All right. Next one here. We've got, uh, pace, uh, the pace, art, art gallery, or art. Uh, what do you call it? That I know the name pays art. Um, but they're partnering with. Um, just ahead of NFP NYC, sounds like they will have a gallery open during the event. Um, so certainly it lends more credibility to, to generative art, uh, such as those that are, uh, produce bone, the art blocks platform

[00:08:13] George: Yeah, you love following the, uh, the art box stuff. And, you know, we talked about not NYC. She getting ready for a ride. You punch your ticket yet.

[00:08:22] Andrew: going soon, going soon.

[00:08:24] George: Nice.

[00:08:26] Andrew: And then one more, uh, we mentioned this here, that we've got the Ethereum proof of stake customer has gone live. So what does that mean? It means that one, the first test that they have several test networks of the Ethereum network, the first one for the, the merged. Ben talked about where proof, where a theory that moved from a proof of work to proof of proof of stake network.

[00:08:56] Um, the they'll do, I think it's three or four. I think it's three different networks to test this out. The first one's gone live, it seems like it has gone. Uh, there was one little, uh, issue that. Figured out pretty quickly. So that is good news. They'll continue to do some work tests. Sounds like if everything goes well.

[00:09:14] Um, if ever as far as testing here that the merge could be live by August. Uh, one of the core developers of Ethereum has said that it would be no later than December, so they are pretty confident or they're very competent that it will come this year. Um, you know, we can talk more about that. We've alluded to, to this in the past, but it will be a big difference for the network as far as for, for, uh, NFT users for collectors.

[00:09:40] It shouldn't really make much of a difference in order to make any difference in what we're experiencing or doing on the network, but it will be big for, um, uh, for some of the arguments against NFTs and also for, uh, the scalability of Ethereum in general.

[00:09:56] George: Yeah, I think we've put off having a speculation of what this means, because the mergers like this they've mythically talked about it as early as 2017. So, you know, keep that in the back of your mind, but this is a very, very positive, real code, real push and real example of something going well overall, you know, the highlights is that it won't decrease the cost of gas.

[00:10:16] So, you know, transferring your NFTs are still going to be ridiculous at the time and wait for gas. It will, I believe increase, uh, the underlying asset for a number of reasons, which means that your. And FTS will, you know, appreciate it, that at that value. Um, and it's a good sign for, for that network and the base hopefully, but who knows?

[00:10:40] I feel like we should do an episode on it and just speculate. It's not ready though. I want to wait until like July when it's like more of like a, an incoming thing,

[00:10:49] Andrew: it's coming. July. July is around the corner. I mean, here, this, this episode is what we are getting towards. Yeah. We're mid junior.

[00:10:58] George: it? A late? Let's wait for a few more tests. Net runs, and then we'll just speculate on, uh, what we think the merge might do to NFTs

[00:11:05] Andrew: absolutely. We should. I love to speculate and then be wrong.

[00:11:10] George: and then delete. Do you ever go back into the edit it? No, we're too lazy for that. All right. Do we have yes and affordable project. Okay.

[00:11:20] Thank you block bounce for sharing this, uh, pretty ridiculous project D Jen's NFT. And you know, I'm not quite sure where to begin other than first off, you have to go to this website, but also like Warren be warned when you do, because it's, um, it's very noisy.

[00:11:43] And so with this kids, it's, uh, I have thousands of collection of 5,000 of these things. And I can't even think with this noise, it's a collection of. Yeah, 5,555. The creators are doxed. The actual leader of it is a very, very young, I think they're like 22, but also there's like a web dev involved. There is a marketer involved.

[00:12:13] So, you know, you actually know this team. The actual art is pretty simple. I'd say this, you know, comic base, but they're trying to harken back. There's windows themed website and there's like flappy birds on it It's hilarious. It looks like literally like your windows 95 background is so there I'm missing new drops and other pieces around that current floor sits around 0.03 for, uh, owner to item ratio is about 50%. Which is kinda, which is good, you know, in terms of distribution and they have an active discord though. It's a little weird because I'd say that the number of people in this discord is far more than the number of holders. There's always like, all right, they may have juiced, uh, they may have do some numbers, uh, along the way, uh, to have a total number of discord legions at 34,000, but only have 27 holder 2,700 holders means yes, Yeah, they did some, some hacks to get that number, number, number, go up.

[00:13:11] Andrew: Yeah, it definitely looks like they've played around with those numbers a bit. I love the love, the website here, windows 95. I actually had clicked off that, came back to it and was trying to figure out what was going on, on where the page went, because there was just all sorts of lines, moving all over my screen and then realized that they built in a screensaver for this site as well.

[00:13:33] So it's a, it's a really cool site. I like it. I hadn't heard about this until we were just talking about it right before the show here. So checking it out. I do like the, uh, like the art here. They're all animated little pieces or if they all have an element of animation, um, That is, I don't love when I see the numbers being way off like that, you know, I, uh, uh, you know, I'm sure that it's, it's, we know that it's not the most common, um, practice out there, but you know, like to see when things do grow organically, um, you know, and I'm sure that it sounds like they are doing that as well, because we've definitely had this bro, you know, thank you for bringing this to us, uh, block balanced by the way, you know, so they're definitely getting organic growth as well.

[00:14:15] So that's good to see.

[00:14:17] George: Full disclosure. Three of these things around somewhere, uh, they've got this poison drop coming, but they're doing it in a clever way. Well, they'll, you know, drop an extra thing that as they claim will be. Important in their ecosystem, but you have to have an unlisted, so you can see there, they're playing the game.

[00:14:36] They're trying to get people to D lists so that they can more quickly like manipulate the floor and manipulate the price and value. Like they're marketers, they're they're savvy and you know, they're, they're going to hustle for a bit. So, um, I wouldn't say this is a long-term hold, but, um, I'm playing the game.

[00:14:54] I'm playing the game. Cause it's interesting watching these like Freemans and Lomans like some random ones are just taking off, uh, with a team and energy to just, not as many as before now, the overall market was about 5% down over the past week in terms of like NFT volume. But it's still things that are taking off randomly.

[00:15:14] Andrew: Yeah, that's true. There's definitely, there's definitely still movement in some projects here and there. It's, it's sneaky because there's like you said, not a ton of volume out there. So you got to look closely to find it right now.

[00:15:25] George: Yeah, exactly. And I did, I did see some volume and that's one of the things that actually initially attracted to me or attracted me to it. Like they quickly mint it out. So there was a hype and interest and, you know, Ms. A team with a plan that stocks. Okay. So, you know, my financial advice and talking about JPEGs on the unit.

[00:15:41] Andrew: All right. Yeah. Thanks again. To block bounds for bringing that up.

[00:15:44] George: Legislating NFTs. I'm excited. I just, I, you know, I, uh, I thought this day would kind of not come, but there are top line points, you know, to pull out that are in this proposed bill. It was, uh, I can't believe that they did this, but guess how many pages the proposed bill was?

[00:16:06] Andrew: 69. Was it 69?

[00:16:08] George: It was 69. So 69 paid proposal. Somebody did that on purpose

[00:16:15] Andrew: Oh, man. Yeah. Well,

[00:16:16] George: that doesn't have an

[00:16:17] Andrew: there's N yeah, there's no better way to ingratiate yourself to the crypto community than by following the meme.

[00:16:26] George: Ha ha you must obey the means, but there, uh, I mean, so actually, you know, in keeping with that, it was it's actually, I'd say net, net favorable, um, one is they're proposing. It'd be no new taxes on crypto transactions under $200. So that's like a nod on saying like, look, if I'm doing it as a transaction, why do I have to pay capital gains on something?

[00:16:47] Also acting like a currency. So that is a, that's a huge, huge, huge thing. If you're talking about that, um, people have the right to self custody of their digital assets. That is awesome. Meaning that, um, if you bought something on a platform that was acting as a custodian and they didn't allow you to also get your own wallet involved or export it, like that's not allowed.

[00:17:10] And that's a fantastic standard. Another one, most crypto assets are viewed as commodities rather than securities and, you know, super complicated when you get into it. But right now they're looked at as commodities. I think that's good overall because the sec does not like

[00:17:28] Andrew: Yes, less SCC involvement I would say is generally a good thing.

[00:17:33] George: Yeah. Yeah. I think that's, that's the good Cliff's notes on It

[00:17:36] Andrew: It would make it a lot more complicated for, for NFT or for crypto projects in general, if everything was a security and you had to basically get here to all of the sec regulations when creating any kind of crypto project.

[00:17:52] George: Yeah, very, very common. Mining taxes, mined Bitcoin currently taxed as income at the moment it gets mined. I think this is also like a touch on like defy as well. Like the moment it gets my versus realized. So like, there's a question of like, has this been realized yes or no? And you actually can get stuck with a pretty big tax bill from something that fluctuates in price after it gets dropped to you. And this could also be. You know, you know, we talked about, for instance, like flower fam things that are distributing coins to you, does that happen at the point that it was distributed to you or the point that you move it into its next phase? And that's a big, big, big difference sometimes, especially, uh, speaking to somebody who held Elvis at two different points in time.

[00:18:38] And when they were worth a thousand X a different.

[00:18:41] Andrew: And which way are they? I'm sorry, I didn't actually see that part. Which way are they going to, are they proposing to legislate that?

[00:18:47] George: Yeah. So they're saying that, uh, the bill is proposing that miners will not be taxed after they sell. So it's the moment of sale, not the moment of distribution. Right?

[00:18:58] Andrew: Great. Okay. That's yeah, I'd say that's much more fair to, to the minor, you know, there's less pressure to sell them too, because when you, if you're texting on the point that you get it, you sort of need to sell some immediately to cover those taxes. And that's not great either.

[00:19:16] George: Yeah. There's a lot of problems there, especially with how quickly, again, like these currencies can change. And, uh, another big one is that stable coins have to maintain a hundred percent reserve intent. Luna.

[00:19:29] Andrew: Yeah, that's obviously a good one to have in there after the Luna disaster. Um, although I, you know, I'm not sure that it will, I don't know. I'm not sure it would have prevented that, that problem in general.

[00:19:43] George: I mean USD T right. Tether, classically as like, uh, a varied bank of assets that back it, but where it's not entirely clear what those assets. They actually had the firepower to withstand what seemingly was a follow on attack to them. But I think a logic, a lot of those things are just logical. It's like I quit.

[00:20:03] I couldn't believe how much common sense was in this bill. And I was, I was shocked actually.

[00:20:08] Andrew: Yeah. I mean, it seems good overall, you know, we, you know, it would be great to get some more clarity on how NFTs will be treated. Uh, sounds like we are going to have to wait a bit for that. Um, a new asset class makes me think that, you know, there's at least some consideration being given to the accident.

[00:20:27] These can't be treated with. With what we currently have in place. And, you know, I'm hopeful that that means that we will find something that I don't know isn't treating every sale with under a year, like a short-term capital gains sale. Um, I, you know, I think that we need to find a better way because the taxes right now in, in on NFTs are, it's a big, it's a big cost when.

[00:20:55] When you're trading these and you know, at this point, there's certainly, it's certainly difficult to say that you're going to buy and hold for over a year. Um, and in most cases,

[00:21:07] George: But think about the functionality as well, that is ultimately hampered in any sort of forge mechanic. Right? So for a thing where I have to take two entities and merge them together to get a new thing, what did I just do? I just incurred a short-term capital gain tax on. Those those assets. And now I have this new asset, like it simply doesn't work treating it as this type of commodity with these types of, uh, short-term long-term gains, uh, involve it.

[00:21:34] It's hampering the tech in the same way that when online stores and e-commerce first came out and they were like, well, how do we do sales tax? Because it's on the online, each individual statement still like a bit confusing, but there are some standards that have rolled out that said like, okay, here's a new technology and a new way that things need to operate.

[00:21:52] Andrew: Yeah. I mean, something that did happen, you know, you're right. That, that did take time for taxes to roll out with correctly with e-commerce and, you know, brought to mind. Amazon fought against those for so long. And then once they sort of had their position, you know, we're quick to, to fight for tax laws being put in place.

[00:22:14] And I do hope that, you know, we, aren't looking at another situation where it's helping the current, uh, or the established players and, and at a, at a detriment to, uh, to. Players that are coming up in the crypto market possessed. We know we're still very young here and we need a lot more new things coming up.

[00:22:35] So I hope that that is, you know, that we are really fostering innovation in this space. When, when this, uh, built is finalized.

[00:22:44] George: Yeah, I didn't see any note on like when this might. Come through at all. I feel like they have a slow summer to get here, but I'd imagine sometime this year.

[00:22:56] Andrew: Yeah, I would hope so. Um, you know, Uh, well I'm sure. See lots of, uh, political, um, I don't know, arguing about this as we get to midterm elections as well, because I think that, you know, as I say, I think crypto will become a bigger and bigger issue in elections and politics in general.

[00:23:17] George: I think you're right. The crypto friendly politician and policy was going to be a very, very quick button to get pressed for money. Little thing I know about politicians, they like money. And so if you're saying that, Hey, we're crypto friendly and I have crypto friendly policies. See right here, you're going to get support from the community.

[00:23:38] You know, notably, you know, same Sam Bain and freed said he may be dropping. Seriously, billions of dollars on this election cycle. And it wasn't saying that it wasn't going to be explicitly around crypto, but let's be honest. If a crypto multi-billionaire is becoming a, you know, active political force, it may Dawn on you that you may have the need to have a crypto policy in mind.

[00:24:04] And probably be one that is semi favorable as are frankly. Most tax law policies that favor the rich in our country. Anyway. So like you're, even if you have small bags, you're like you're on a big wagon. I think.

[00:24:20] Andrew: Yeah. You know, it's a good way of putting it. Um, you know, we do have to hope that these people, we have to hope that the crypto industry fights the right way and you know, and it does make me concerned. There's a lot of really big bag holders that don't necessarily need to, uh, that don't have the, aren't looking for the same outcome as a lot of other people that are in crypto as most of the people that are in crypto.

[00:24:48] Um, you know, and they, you know, just be careful, I guess, as we're, as we're getting into this, the pro crypto, um, stance can be a wide range of things.

[00:24:59] George: Yeah, that's true. There's a lot that fits under that umbrella. And it's easy to paint right now with one brush because there's, there's only like X number of million wallets involved, but once that starts getting up there, there's going to be a wider array, I think is really good though. A reminder of how early we are in NFTs, like genuinely early, like the asset class and tax laws have not even been established for this technology yet.

[00:25:27] And now once it does get there and you'd have the U S government taking seriously, the idea of crypto and non vulnerable tokens and this idea of digital ownership as something that's going to be passed into law. And once it does, it will definitely. everyone is not coming, but it is a strong narrative for why this is not a fad and why this will be here over a longer period of time.

[00:25:52] Andrew: Yeah, I'm looking forward to seeing the, uh, the NFT section of the wall street journal at some point.

[00:25:58] George: Oh, the fact that they're not selling their own pages, just silly, like sell your own bed, like the times should be doing it every day. It's such a no brainer for money. I just feel like there are just stodgy humans that are just like, we can't do it on principle. Like cool. Is that the same principle that lets you run all those ads?

[00:26:17] Andrew: Hi magazine has managed to move ahead. Somehow nobody was paying attention to time magazine for a long time. And. They decided to get active in NFD isn't there. I don't know. They're certainly they're active and they're doing new things. And I think they're bringing in a whole lot more in digital revenue than they were before.

[00:26:40] George: Yeah. Well, when your back is against the wall, you tend to try new things. And so there you go, right? Desperation brings out innovation. All right. that's what I got. We'll follow it. If there's a new, a new vote or something moved on it. I love speculating on this kind of thing, but positive. Wow. Positive things.

[00:26:59] Andrew: All right. Good talking to George.

[00:27:02] George: See ya.

 

 

Looking Ahead to NFT NYC | Prtoject: NFT value watchlists

Theme: Looking Ahead to NFT NYC

• • Potential winners? 
    • Andrew: Fewocious, SuperRare, Photographers, Moonbirds, NFT Ticketing
  • What themes may emerge?
    • Andrew: IRL Art Galleries, Independent creators vs VCs & corporations, IRL use cases of NFTs

• Affordable project:

• https://opensea.io/collection/degenz 

• https://opensea.io/collection/podgans-by-pindar-van-arman/activity 

• https://opensea.io/collection/deadfellaz/activity 

• https://opensea.io/collection/ashmetamorphosis 

• NFT News

• • Demand Surges for 'Turbulent' Optimism Airdrop - The Defiant 
  • Florida Dealer Charged for Selling Allegedly Fake Art by Basquiat, Warhol 
  • Kanye West Stakes Claim for NFT and Metaverse Trademarks - Decrypt 
  • Jim Carrey Just Invested In His First NFT: A 1:1 On SuperRare
  • Top 5 Airdrops (and How to Get Them)  
• Transcript:

[00:00:00] Today on all about affordable NFTs, we are looking ahead to NFT NYC. Is this the number two number the second time, this big conferences happening? Uh, second time in about six months, but no, they've had it. I think it's a. Conference. They actually were doing these pre pre pandemic and everything at one point.

[00:00:20] So I guess technically but yeah, they did the last one in November next one coming up, uh, end of June. So pretty soon as, uh, as this is released I will be heading out there you know, hopefully. Hopefully we'll have good things to report, but we're going to look ahead a bit and see what we think may happen.

[00:00:41] You know, it is a big event for the NMT space. Yeah. It is huge. And we've got, you know, certainly we'll have you there. So you'll do some live reporting actually. No, you'll just let us know what happened. I think it's just really hard to actually run around with a microphone and do stuff. When you're at a conference speaking as somebody who's tried to do that in the past.

[00:01:01] People are busy and you want to talk about stuff. There's apparently 1200 speakers at this thing. So I think if I just turn my phone on, I can just start recording people and I'll ask a question and pretend like they're answering me. I'll get us out there. Hey. Yeah. This is a random from a, all about affordable NFTs question for you.

[00:01:22] Again, that's all about afforded that's great stickers. We don't know, but we don't even have. I think if our audience gets to what we, Hey, we passed our hundredth episode. Congratulations. Oh, no, no, no. I'm not releasing any more. We're done. This is just us talking to each other. Okay. I think that's, that's what it was for the good for the first 50 or so anyway.

[00:01:48] Okay. Yeah. All right. Well, yeah, no plans, no plans for drop yet. When we, our audience gets big enough, well, we'll reward people in the discord somehow. Alrighty. What is the news? All right. Yeah, news. We've got, so there's optimism, token drop. The airdrop is live, uh, launched a couple of days ago. We had mentioned that they had releasing information on this.

[00:02:12] You could check a little while ago. This has actually come out. There was big demand for it. Some people were able to sort of get ahead of the launch or Buckhead of when they publicly launched this and a claim theirs and sell a bunch right away. So, you know, in the short term that hurt the price. There's also been some, uh, some discussion about what's going to happen here with further airdrops.

[00:02:32] If you'll remember, we discussed this in the past that this is the first airdrop, they haven't announced exactly how many they're going to do, but I think they said this is 5% of the total The total number of tokens. And I believe that 14% will be airdropped. So they're still going to do more there's discussion now, if they will, or if somebody proposed in the, uh, the governance form that anybody that sold immediately would not be eligible for the future rounds.

[00:03:00] You know, there's some discussion. About that, uh, you know, both sides. So, you know, I think that whether they go that way or not, or just, you know, you would just give it to people that are holding it at the time. You know, I think there's potential to still get more airdrops ad out of this. You know, as we've just talked about optimism a little bit, they it's another.

[00:03:19] Ethereum, roll-up a layer to Ethereum network that allows for faster transactions, fast, cheap transactions. There's, uh, I I've used it a bit. You know, I was getting ready for the airdrop year. Uh, you know, and I think that there, that. It sounds like this will be the first of a few potential, uh, potential layer, two airdrops.

[00:03:39] But certainly the first, uh, our first, uh, couple of their airdrops, so that's been big, you know, definitely adds, uh, some liquidity to the space and, uh, give some people some, you know, some ease to play or, you know, I'm sorry, some OT to vote with. Yeah, cool. I got to go check to see if, uh, if I got any, I move money through, but probably not enough to make a meaningful difference, but, uh, I'll go take a look.

[00:04:02] What I will say is a lot of these drops have gotten much sharper in terms of stopping farmers with various things in place. So I'll just be honest. I moved money into it and I moved money out of it. I wasn't using the optimism network. And so I'm not expecting very much. I think those are, those are becoming harder to sort of game.

[00:04:22] And they have to really like, if you're going to go actually earn the drop for anything coming up and to see that like any of these like Twitter threads that are like, oh, and then do this, do this, do this. Like you actually have to go in and seams use the platform, vote, participate in the discourse.

[00:04:36] Let's your contract actually hit a few things in the network. So, yeah, optimism had a few different criteria when they did theirs. They are a few different options of how you are options of ways to get into it. I guess, eligibility criteria. One was that you had, that you had used any other layer too. So I think you should be eligible even through your polygon use since you've used that fairly heavily.

[00:04:57] Then anyone that's voted on a. Uh, on a, uh, by the governance forum in the discord, I'm sorry, in the Ethereum world. And I believe gnosis signers. So, you know, that's a little different, if you have signed on a gnosis contract, then he signed her on a multisig, uh, transaction that will also qualify.

[00:05:20] So the RF, a handful of different ways that they've tried to, uh, reward people. PR not only just optimism users, I think they are trying to, to build a network. And I shouldn't say that it was not from the optimism team that suggested that optimism, people that sold the token, uh, the airdrop right away would not get the, uh, the token drop.

[00:05:40] So, you know, there's no nothing official about that. You know, I think that there, if you go and use it and can find, you know, ways to use it authentically, you know, will be able to. To qualify for that next round. But you know, like George said, it is getting a lot more complicated. Actually we have another article here.

[00:05:57] I've got a link here for, uh, top five airdrops and how to get them. So this is from Bankless, uh, you know, they've been, they've been pretty on top of the airdrops it's one that I looked at, uh, towards the beginning of the year. Uh, they had mentioned optimism at that point. You know, that a few others that have definitely worked out a hot protocol.

[00:06:17] They've got one I believe coming up. It sounds like maybe the out, by the time we were listening to this one. So go check out. This article they got open in here is, uh, number one, the open protocol, O P Y N. Uh, let's see, what else has mentioned. I think they've got across protocol. They've got Mehta masks.

[00:06:36] So if you have, uh, if you've done exchange. In Metta, mass, you know, gone from ether to USB-C or something like that. You may be eligible there. Uh, they've got Zuora, that's an NFC marketplace. I'm not exactly sure of what the, uh, what the specific use cases for the marketplace. And then they also mentioned that the layer two ecosystems.

[00:06:58] So that being that including optimism Lot of others there as EK sing start where arbitrage them, you know, these, they've also gone through some of the, the things that you can do to qualify yourself with, you know, keeping in mind that these protocols are getting much smarter about how they handle.

[00:07:17] These airdrops trying to make it so you can't farm them, use a whole bunch of wallets. You see that a lot in the past. So I think that's great to see that in general, it will be going to less fake people and more one-to-one users. Yeah. What I'd say is the, if a lot of this is like, oh my gosh, this is so many different things.

[00:07:35] Throw a dart at one that doesn't have a coin yet coming out and just dig in right through. But Ethan, there, you can move. You can just move your needs to that's it. Move your, you look around, participate. You know, buy a thing, flip a thing, immediately, show transactions, like, just learn it. I think this is important because it's going to hopefully incentivize people that are like, kind of doing this on the side.

[00:08:01] Like we all have different jobs and shit we do during the day. And then actually then the, like your side households night households, like this is a good way to say, like, okay let me go learn about a thing by moving money in. And you're going to get rewarded in terms of learning. And then you can go buy one of those pointless JPEGs that we talk about every day.

[00:08:20] That's right. So you can see your, see your tokens that way, right? Oh, absolutely. You got elaborate.

[00:08:25] All right. What else we got in the news? We've got, oh, that's right. We've got Kanye west. Who has been out around saying no to the NFTs for a while. Now he has, uh, filed for some trademarks of metaverse and NFL trademarks. Seems like someone has convinced him that there, there may be some dollars dollar signs over there worth getting.

[00:08:47] So, uh, you know, not that I think Connie may be motivated in that way, but, uh, you know, He'll bring some attention to the space. Yeah. You know, from convictions, loosely held famously held up. I build things in the real world. I don't dare do this. Drops it on Instagram drops. The mic walks away less than six months later.

[00:09:08] Yeah. Aping into getting all his easiest names. Uh, another eith idea, Yves name, address idea on the last celebrity alternative names, all of those sort of celebrities are going to be rolling in if they haven't already. Especially the ones that are claiming they're not like, come on, go get it.

[00:09:26] Maybe Jim carried out Eve looks like he's active. He probably already grabbed that one. Jim Carey became an NFT collector, bought a one-on-one on super rare. And, uh, it was a steam relative fee sizable purchase. I believe. Let's see. It was 20. Uh, this was a piece called devotion by Ryan Koopmans. So interesting here is that he chose to mean it's a pretty big splash to go with your first, uh, NFP as a one-on-one 28th purchase on, on super rare, you know, regardless of what you have, you know, getting into the space takes a, uh, I dunno, it takes some getting used to it, so surprised to see that as a, as an, as a first purchase, but, uh, interesting.

[00:10:11] Why? Why are you surprised at that since. Uh, 28th, super rare purchased, you know, I guess it depends how you're coming at this. I think a lot of, you know, I certainly, I have a lot of super air pieces. A lot of art pieces from their 28th is a lot for anybody to make as a first purchase, I believe. When buying a JPEG, I think it's a little bit different.

[00:10:30] To to understand that before you've tried it a few times and understand that you hold this in your wallet. You know, that being said, this is the first name, that public wallet. We don't know that he hasn't tried this under, you know, something that some other pseudonym or, you know, another anonymous wallet, or even that he maybe had some help from someone that had been convincing him of this, showing him the ropes for a while, or at least I hope so.

[00:10:55] You know, I think it does. I think superhero has been somewhat. Over the past year as PFPs and these collections have really dominated the space and super rare. I think it's starting to get a little more attention now as a, as a platform for one-on-one art for, uh, for some of the higher end art pieces.

[00:11:18] A I don't know didn't, you know, not these just JPEGs that are. Pictures of, you know, a lot of different variations of pictures and nothing wrong with those. I think they can be good art, but they aren't necessarily the same thing that art collectors are generally looking for. Yeah. I think there's kind of some intelligence of buying a one-on-one because you are the floor.

[00:11:40] There's no like, oh gosh, what a dumb mistake. You're like, it's mine, it's worth a million, 1,000,008. I just listed. Okay. Also I think with, with his obviously like Brandon cachet, he's got the ability to kind of really know, you know, Ryan Koopmans maybe a bit more and add cache to the overall artists and, you know, not that he needed because he's got some amazing, uh, amazing work on, on super rare.

[00:12:03] It's uh, it's not dumb. I will say that because you are a market, this is Stockholm based photographer. By the way, I have had heard of him looking at his art a little bit more. Definitely go check it out. It's get some cool pieces. You know, he good looking stuff. Nowhere near affordable. No, don't look at it in that respect.

[00:12:22] I was just looking at if there was a play with, uh, with anything else that's created now, there's no, there's no affordable flat breasts. All right, everyone. Move on.

[00:12:28] All right in the, I guess, one other news thing, news item here, we've got that a Florida art dealer was arrested for selling some fake Boskiet, uh, pieces as NFTs. This was a well seemingly a real art gallery selling these NFTs on authorized. Good to see it. You know, we know that there's a lot of, a lot of copies out there.

[00:12:56] Glad there's somebody, somebody working to crack down on some of this. Yeah. It's, you know, it's just showing you the laws paying attention and there's a lot of scammers out there and, you know, double check, triple check. Constantly, I don't know. I think a lot of folks in the ENA world that have been here for more than six months are getting hardened and so hopefully less, less likely to get.

[00:13:19] I hope so. Yeah. And you know, I just know there's a lot more coming in and ghetto is be careful.

[00:13:25] All right. Well, I think, oh no, we, we I've been looking for an affordable, here's what I think we did the shopping list last time. Uh, I think I went with moon, birds and avatar, not blue moon. Unless moon birds buys moon cats. You started what? I did hear someone talk about that. That was me. I just talked about it just now.

[00:13:51] Oh yeah, that's right. Yeah. No, this is not financial investment. So I brought on two projects. Uh, last time I say, let's challenge ourselves for the shopping list. Like what's in, what's in your sort of like watch list right now. All right. We can go back to this, you know, and, uh, let's see. I. Well, what am I watching right now?

[00:14:09] What do, I mean, I've got a lot on my list that I have mentioned here in the past, you know, at this point, although I'm not buying more of the, uh, Alison hace is, you know, those were on my list wrong until they got way out of range for me. Let's see. Well, I'm still watching few oceans, but I think I've mentioned those. Yeah, I mean, you mentioned. Yeah, we'll get to that in a bit, but also they're, they're coming out in the F and F T N Y C. And I think you mentioned that they were also at, you know, the Gary B's conference. So I didn't see a big pump after that, but it's been, it's been inching up.

[00:14:45] It's not a bad one to keep an eye on. I think we've mentioned that before. W well, if you've got someone to kick us off here, kick us off list. I am watching, I keep mentioning. But I didn't say for last time, my shopping list is and I'm watching for that Florida drop post wrecked guy. It had an initial bump somehow, and it, uh, it definitely moves around quite a bit, but I want to get this, uh, my, my absolute definite buyer price is 0.3.

[00:15:12] If this thing hits 0.3, I'm definitely buying another. So the network gives you access to their, you know, discording community and clearly you get drops. They're continuing to invest, uh, in in and out. We're going to, it's the original D Jen's not the, uh, the version two that they created. So that's, that's one on my list, uh, for sure.

[00:15:34] Yeah, that's a good one. Yeah, I have two of those now. I actually was able to pick one more of the 0.3 when people were trying to make this work, this is what people are trying to sell to get the, uh, the rec guy. So I was happy to get that and I still have one rec I probably should have sold that, but that was, I was thinking that I, I liked the DJs as the overlooked play.

[00:15:55] They're well-recognized getting a lot of attention. So here's one that's on my list and this is one that you actually I think you have this, and we've talked about this before, but it is the pod Gans by Tinder van Arman. So this, we each have one of these, but you still have one. Is that right, George?

[00:16:12] I do. You know, I'll make it a gift of whenever I sell it, it'll guarantee that the price will go up and that's when you can use your, your indication. I am the harbinger of the price about to go up whenever I start. Right? So this is the floor right now. It's at 0.4, four. So, you know, it's not. Super cheap, but this is also a very thin floor.

[00:16:35] It goes from 0.4, four to 0.49. The next one is 0.639 and then 0.7. So in four listings, we go from 0.4, 4.7. I think this is still a, a platform that I like that it's just one of the first three on this platform. Uh, one of the first three projects on the brain drop platform. Sorry, I was blanking on that name for a second.

[00:16:56] But I think the platform will be around for. A while and that it will, will deem value over time. Pindar is a respected artist. So it's one that I'm looking at. I've made a couple of bids, nothing coming in quite yet, but it's, it's really quiet over there, which, uh, which I like as a buyer, it looks like, okay, so one sold two days ago was the last one.

[00:17:17] And then five days ago, six days ago, 12 days ago. So four sales in 12 days is pretty quiet, I would say. So that's, that's one that I'm looking at, keeping an eye on. Yeah, you have to be careful because you have to, you just a lot more patient, a lot more game of patients there. And it's, it's hard to tell if the overall market is more about holding or more about folding right now, but I agree that's a mighty thin floor.

[00:17:40] I mean, yeah, that could move quickly. What are we getting out? That 4.3 was the mint. That was a 0.1 minute. Actually we did a 0.1. That's good. Yeah, I liked it. So that was, it did get up over, over one eighth at one point. You know, I don't expect it to get up there immediately, but you know, like I said, I think if you're, if you're patient and you can buy at the right price, I hadn't thought of that.

[00:18:05] That's a good that's not bad. That's not bad at all. As if I needed another thing on there. Okay. I remember add more to your watch list. Don't jump, don't jump at prices. That, that don't make sense. Just find another project to look at. If you're getting too, too close to jumping a little too high.

[00:18:26] Remember what else? I will say another one on my watch list is dead fellows. Now this is pretty high still. But dead fell is, was, you know, sort of, it had a, had a peak of, you know, it was kicking up at like four and a half Yves at one point it's down at 1.27 and. Pretty strong community, female, a female artist who's, you know, definitely known in the space, had a strong following.

[00:18:56] I mean, what else could you add about, you know, it's one of those 10,000 PFP, 6,000 owners, so large owner distribution, and it's just, you know, it's running out of steam in a downmarket and we'll say I almost even added. Dead fellows. And to my, my list of potential winners from NFTE NYC, I know that Betty from, uh, the artists Betty with a, you know, Eve of course simple for me is speaking at, uh, At NFTE NYC on the main stage at radio city music hall.

[00:19:28] So that should have a pretty big audience. I think that has potential from, I don't know a ton about the project or the Otter artists specifically, but she's very well known in this space and seems very well liked and well-respected fully doxed. And then around the space, I think it's going to bring some more attention to the, to that collection and, you know, I think that's what.

[00:19:49] You know of these, you know, like you said, we're starting to see some separation of the winning projects and what the, on the ones that are going to be around here for, for at least the foreseeable future. And that, that does, that's starting to look like a good potential buy. What is the, what's the floor on that, George?

[00:20:06] I think I called it at 1.2. Yeah, 1.2, 1.3. And, you know, there's, there's sales every single day happening in and around it, a back door into this also is, you know, we mentioned Ash chapter two, metamorphosis, you know, technically Betty's got pieces on there right now that are actually at like 0.2 or 0.1. So that's like an affordable play, uh, for yeah.

[00:20:32] Creator dead fellows. Yeah. So she's got an animated on Ash chapter two and I'll include the link in the show notes. I just want to be careful though about. Oh, someone's on the stage. It's going to make them pump. Like I never actually see that come to bear. It just, I, I wouldn't do it as a, I certainly wouldn't look at it as a short-term pump play.

[00:20:48] I think it's more about the space starting to respect the collection as a, I think that's right. Respect and recognize artists Capitol. Yeah. Yeah. I mean, I, you know, you know, unfortunately it seemed that a lot of the, sort of the, the women PFP projects, you know, world women rise has not been just good and they don't, you know, I got to say they don't feel super connected to the NFT space overall, where.

[00:21:19] Yeah. I mean, I see that, but he's posting, you know, regularly interacting with the community and, you know, even speaking at this event, you know, that, that says a lot to me. Yeah. I mean, I agree over time, someone is willing to like continue to push and like recently detoxed herself as well. So you know what you're getting as opposed to, you know, it was, it was 20, 21.

[00:21:41] It was like much more fashionable to be like, oh, we don't know there's mystery here. It's like, no, There is authenticity, mystery being trumped by authenticity of who the artist is and how they're going to align their identity with a project over time. So, uh, interesting. Yeah, I don't, I good stuff. You, so you kind of see what we're looking at and how you should have your own list.

[00:22:03] You should play the game of like your side watchlist wallet. It'd be like, what if I did this? It's a fine game to play, uh, and really looking for people that have, uh, Uh, the, the projects that will have the persistence to push through the, the bear market.

[00:22:19] All right. All right. Well then why don't we. Move on to our topic, looking ahead to NFT NYC, like I said, I will be heading out there. So if anybody is going to be around the New York area that, you know, let me know of course up in our discord, there are events going on all around New York for this. And I think it's kind of fun to just look ahead what we think may happen.

[00:22:43] You know, what the user may emerge, you know, there's a lot of people attending things it's supposed to be about 15,000 this year. I'm not sure how much. You know, last I saw they were, they jacked the price. So I bought my ticket right away after the first blending, or maybe it wasn't right away, but like they, they did an early bird and I think I got a ticket for, you know, 150 bucks.

[00:23:03] And last I saw they were like 500 and some odd. So they've, uh, recognized that people are interested. Wow. I mean good on you. Nice shit about too, right.

[00:23:14] There's a podcast about that actually. Yeah, so some things I'm looking ahead to, you know, you mentioned that will be out there. I, I think that, you know, he's still a young artist. I think a lot of people don't know him. I think that there's going to be some, I don't know anything about any official plans.

[00:23:27] I think there's going to be some more paint parties there. I, it seems like. Then building up some bigger collector base. I've seen that, uh, that paint collection, you know, getting some, some good buys and it, you know, it goes up and down a bit, but I think that he could be one of the kind of winners of the space that as people get a feel for the.

[00:23:48] I don't know the physical connection to the pieces and actually painting there. And I think that some buzz could build around that. And again, this is nothing looking at, like we're not looking at short-term price action here. We're just trying to, to look at some of the things that need some of the, uh, I don't know, trends or ideas that could, uh, gain some steam here.

[00:24:07] Yeah, it's just, it's important. I mean, I think I learned a quick lesson at that through a lot of things, but also sort of econ realizing that it's just a parade of a braid, a parade of people and there's over, it looked 15, uh, 1500 speakers, uh, at this. So just because someone's talking at this does not mean their project is about to go up and also keep that in mind when you're going to start to see, you know, as seen on NFT NYC and as a validating station.

[00:24:38] There are a lot of folks that are attending and also speaking. And so keep that as that sort of validating thing in mind, I'd say, yeah, definitely 1500 speakers. You have to, basically, if you were late, you didn't, you didn't want to speak, you didn't want to apply to speak. I thought I'd go. I thought it'd be more rare this way.

[00:24:58] You know, I'd be one of the few not speaking and actually on a legitimate case that you could have done a solid Dean analytics talk that people would have been like, oh, well this is just useful. Probably. Yeah. You know, and instead I used to do like getting on a stage or no, is that like, you're like, yeah, I'll pay.

[00:25:15] I can't say done a whole lot of that. You know, this is, this is pretty comfortable talking to everybody, right. From right from a desk here, though. You prefer this audience of us. So talk to me about an FTE NYC. You know, we'll do a follow-up from it. What is your strategy going into this? Are you trying to hustle to get dropped?

[00:25:34] Do you think? Like there's certain parties and you'd be like, oh, here's my pull-up proof of attendance. Yeah, there's a few things I'm looking at, you know, there's, there's, they have more, it seems a little bit more organized. Like we said, that there's a lot of speakers. They sent out an email today actually asking which afternoon and morning session people want to go to on the first day of this looking at the, uh, various locations that they have, but also kind of getting an idea of, of what they'll be covering.

[00:26:00] So. Areas that are sports in, that are more on the investing side that are more focused on the community aspect. So I, I like that. They're trying to give some tracks to this this year. So that makes it a little easier. I was definitely jumping around between buildings relatively quickly, quickly trying to make it to from one, talk to another that started, you know, maybe 10 minutes later, but with.

[00:26:27] 15 minutes walk away. Uh, so I think this will be nice that they're trying to, to put these in the same place. I don't know about the two yet. There are a ton of, of non offsite, uh, events. So I know that moon birds is doing a big one, a big event. Of course, board apes are doing a big event. I think they've rented out some huge place on the pier for the whole weekend or, you know, some fear.

[00:26:53] It looks like a massive place, you know, as, uh, as of course a board apes lake to do it big. But I think, you know, I think that this will be the first time that a lot of people will get a chance to, to attend an in real life event, you know, as this is, it's the first big end, really big NFT one. Well only in a couple of months, but we know how much that means in NFG in the NFD space.

[00:27:16] I think it's great. It's keeping the community engaged and connected and. Keeping the energy, uh, with, uh, the core group of committed folks that are, are going to be quintessential to building and supporting through the dip. You know, I'm looking at the program and it's kind of interesting to see how many ways they divide it up.

[00:27:37] And there's general art, film, music, gaming, sports, social fashion, collector, legal ticketing, finance all with NFT tracks inside of it. So they're really starting to. To separate out and show up kind of like, this is kind of like how south by Southwest got overtaken by a south by Southwest interactive. If you're familiar with that conference and kind of what a, what a spectacle it became.

[00:28:01] And I've, I've been to that a number of times it is fun and it just, it is playing fun. Do you actually end up learning anything though from like a speaker or is it just everyone pumping their bags? Yeah, that's a good, that's a good question. I mean, I don't know that how, I mean, who's getting on stage and giving away what they think is a real secret here.

[00:28:18] You know, what they think some serious alpha, just a thousand of you need to know. Right. It's a lot of people, you know, finding something to save, putting themselves on the stage. Right. And I think that's, yeah, that's a lot of what it is. It's a lot of just bringing people together. I think I'm not sure that you learn a ton at this.

[00:28:39] Events. I think some of the, I think probably some of the smaller events are, you know, maybe the non-male stage and looking for very specific things. If you're, you know, if you are very into film NFTs, you may be able to learn something there because there's just so little out there right now. And I think that's a chance that you can actually engage with, with people that are in the space.

[00:29:03] I saw that there are many, you know, many of these stages end up being, or many of the audiences ended up being quite small with this number of speakers. So if there. Something, I think that's a potential to learn something, but yeah, otherwise you're not learning something, you know, it's, it's like taking a, uh, you know, a huge lecture course in college or something, you know, when there's a lot of people in the, in the room.

[00:29:25] It's, uh, I'd say the quality goes down a bit. Yeah. Well, uh, it'll be exciting to have, uh, have you there and let us know what you let us know what you see. I'm uh, I'm eventually going to go to one of these things. I just, I I'm. Yeah. I, you know, some of the things that I'm looking forward to, I know that super rare has an art gallery out there.

[00:29:45] They opened up a, uh, calling it a pop up for the summer in like the Soho neighborhood art blocks is going to be doing a big event in a Samsung building there. So I think they'll be able to have a lot of there, a lot of pieces on display that are actually moving. You know, I've certainly had a hard time finding ways to display a lot of pieces, especially ones that have movements.

[00:30:05] I think, you know, I think that. These in real life events have, can still go a long way. You know, we're still gonna coming out of, of diver. Nobody was doing anything and NFTs have certainly burgeoned. During this time. We have not seen how they can be fully used to use sort of the digital and in real.

[00:30:24] Uh, aspect here. I mean, with these conferences, it's very clear that it's like, it's the floating crap game where if you've got, uh, a membership to a group and you're like, where do we meet up? Or wherever that conference goes, you get this like special access to a thing is becoming more standard. I know also the Vayner Vayner sports pass folks are offering up like an event and trying to see how many people would RSVP.

[00:30:44] So I don't know. Did you sell yours or. Yeah, I, I can let you want, if you want to go to the party you gotta gotta give it back though. You gotta promise to give it back. I think that's, I think I can do go there with my, with my past. Tell them to. To when, when floor and when moon tell him, I said when, when moon.

[00:31:04] Yeah. I mean, it'll be interesting on the mood is at different parties. You know how people are,

[00:31:08] we get a last minute notice that the party has been moved to the basement. It was a party and it's a cash bar. I think that's the perfect signal to us. Everybody have you seen, but I put my cash into the,

[00:31:20] well, you take a JPEG. Here's my phone. Oh, here's a quick question. Are you going to go with your hot wallet on. I'll go with, I'll go with a, a hot wallet on my phone. Not my, not my primary wallet. Yeah, no, I don't want to use that. And you know, hopefully, you know, that's something that I'm hoping will, will change here.

[00:31:40] You know? Right now we've seen some tickets tough, like, oh, here's like, here's a book, here's a situation. Right. I'm just gonna put it out there. There's going to be an eight fast getting, you need to show that you have the wall that has the eight. I needed to do something I think right now. And I think that, you know, we've got to figure something out.

[00:31:55] This isn't a great system that you should have to have a, a potentially a hundred eighth, uh, ticket on your hot wallet while you go to have drinks at night with a bunch of other, Hey, I'm having a party in the middle of New York, but everyone in order to join has to have a hundred thousand dollars in cash in their pocket to walk in the.

[00:32:18] Yeah, this is where they are and when they'll be there, it's certainly something I'm keeping in mind. I heard some, some stories of people, you know, you have to worry about the physical type attacks. Yes. I mean, there's, it's certainly a brute force attack you really? And when everybody realizes that there's a lot of NFP collectors there and you know, I mean that, or at a party that is, or moon bird's party, you know, everybody's holding a 28th piece to be there.

[00:32:46] You know, that's something to think about. I know don't, I'd also say the bigger, I think the bigger risk is probably. Uh, people that people that really know it, you know, people that are there that can take advantage of the fact that maybe you've had a couple of too many to drink and they know how to use a Metta mask wallet, and they hold one of these and they know how to get rid of it quickly too.

[00:33:08] You know, that's, there's a lot of different mistakes. You can do it on your own, but when there's a lot of savvy people around the, you know, I'm certainly going to be more careful. I don't want to, you know, if I have to have something there, I, you know, if I have to have somebody to get into. A party. I'd rather be able to show it a different way if there's a third party sort of verification thing.

[00:33:29] And I, I hope that there's something like that coming along. You know, I think these NFT ticketing, I think NFT ticketing when I went last, November yellow heart was doing one of the kind of off-site events. Uh, it was in the back of verse gallery and it. It was one of the only ones that I actually saw making use of it.

[00:33:47] And it was pretty good, but not great. And I think that we're going to see a lot. That come to play here. And I hope that we see some that are finding a way so that you don't actually have to carry it in your hot wallet. And maybe I don't know what the answer is, but I'm sure someone's thinking about that.

[00:34:03] Well, look, I'll go out on limb and say, if you need it and you want to hold all of your X copies, squiggles and whatnot, it's like right here, you know where to find me mostly stable that just ship it or, okay. Yeah, no problem. Here we go. Uh, w you scheduled for a podcast today? Oh, oh no.

[00:34:21] All right. Thanks for that. And we're excited to kind of learn more as you learn more about what's going on there.

 

How many should I mint? | Project: Flower Fam

Theme: How many to mint? 

• Best to buy with conviction & mint more than 1
  • Gives option to sell while staying in project
  • Can help remove some of the emotion of decision
  • Gives chance to mint/sell “rares” to help pay back mint costs
• Better to pass on mediocre projects & those with poor risk/reward, save for good projects
• Free mints? 

 

• Affordable project: Flower Fam    (thanks Myth47.eth)

• https://opensea.io/collection/flowerfam-fam-official

• https://www.flowerfam.earth/

• NFT News

• • NFT Headlines: 
    • Goblintown Is a $37M NFT Collection That No One Can Explain - CNET 
    • Nike's RTFKT Just Bought DotSwoosh Ethereum Domain Name 
    • Solana's blockchain clock loses track of time, now running 30 minutes behind
      • Reliably unreliable: Solana price dives after latest network outage  
    • Bug Brings Down Solana Blockchain for Four Hours - Decrypt 
    • LUNA Reboot Plummets Over 70% Just Hours After Debut - Decrypt 

Transcript:

 

[00:00:00] Today on all about affordable NFTs. We're asking the fundamental question. How many should I mint? 1, 2, 3. All right. I don't want to spoil it. No spoilers. We'll let you know exactly how many demands, the exact number. You know, you can use this formula any time. No. Okay. Now that we've over promised on that one, what are you seeing in the news?

[00:00:23] All right. What are we seeing out here? Oh man, goblin town, this, this, and if the collection has sadly taken over the space and it's not just this one. So goblin town is, is kind of a, a term used for bear markets. This collection dropped at just the right time. It was a free mint. I believe last I looked, it was up at seven and a half feet or so.

[00:00:44] Uh, it's insane. What this is doing there's they've had some, I don't know if it's just Twitter spaces or. Uh, you know, clubhouse or whatever that they're just, it's like six hours of people making these Doblin sounds. I don't know what's going on. There's a ton of knockoff collections similar to this.

[00:01:06] It's all over the place on the leaderboards of a volume right now. There's just, I don't know. This is what everybody's turned to because you know, people can't turn away. Even in a bear market, they got to find something and I don't own any of this stuff. It's fun to watch a, I I'm glad people are having fun.

[00:01:24] I'm glad some people have made some serious, easier, you know, be careful a little. So, you know, this is, this is also where you can get burned really fast. Yeah. I mean, in the seven day, look on crypto slam. I see goblin town, like second to board ape, which is just impressive in terms of overall sales volume.

[00:01:41] If we're talking about sales volume, just like number of, uh, things change in hands, you know, overall, the overall marketplace for NFTs in the past week is like down seven, 8%. I think, remember our adage here, the faster it rises, the faster it falls. Right? That sort of the thing that burns brightest burns briefly.

[00:01:58] So I don't think we need to talk anybody out of not buying this. So don't worry. You have one of these and you've got it for free. You should sell this. Okay. This is financial advice. We don't get funny. That is financial freaking. That? No. So we're why are we saying, uh, certainly like, remember moon birds that went up very, very quickly, but it had an established docs team.

[00:02:25] This isn't like, nobody knows who the person is like, so, okay. Could be anybody. And guess what? Usually people have chosen to be, uh, anonymous for a reason as we have begun to find out time and time and time and time again. So that is a huge factor. Again, the speed at which bitch it went up. And then also I'll just be honest, like you overall art, not there.

[00:02:48] Uh, the community is funny. I will say that meme community is real means are like, it's not a joke. Well, it is a joke, but it's not a joke. And how much the value bedded and imbued in it is as anyone who has ever seen Elan wax poetic about

[00:03:04] Elan news. We're not going there today. Now we can skip it on for, he doesn't do too much in an empty. Now. All right. But yeah. Well, so we'll move on to the next story here. We've been talking a little bit about a theory from, uh, ENS names and we just saw that artifact, uh, recently purchased by Nike. They scooped up the dot sploosh dot Ethan name for 19.72 E.

[00:03:30] Uh, homage to the, uh, the founding year of Nike get that's 20 that's about $35,000 at the time. Uh, you know, it's moving quickly up down. So I w you know, who knows what it is while you're listening to this, but yeah, that's some serious eat their congrats to the seller who, who thought to, to get the dots, woosh dot neath.

[00:03:49] I mean, that's not even smoosh daddy. That is dots. Daddy for 28. So ENS names are hot. Yeah, I just, I don't understand how you find the seller for these things. How do people end up finding them? But that it's good to see, you know, that's, that's some serious adoption. I mean, we had that, we were talking about sort of the per usual, remember the, the, the domains with, uh, the numbers, the three number domains that daddy, if it's like, that's been on the like absurd rise.

[00:04:20] It's it's worth. If you're, if you're looking out there, we set it in the previous one. We don't know how to make it an affordable project, but daddy's names are affordable, wildly affordable. So if you want to go speculate, the problem is you have to speculate on a lot of them. Cause if you're buying, what is it?

[00:04:32] swoosh.dot dot swoosh, Dottie. Like it's an absurd thing that just happened to land on the branding. Bingo coin of it. But you know, there's, there's still a lot of names out there. If, uh, if you're out there, I mean, you can fish, you can fish, but yeah. And then you get to do one by one. I've definitely spent some time looking for different things.

[00:04:55] A lot of dead ends. So you gotta be patient looking for, for the right name. Well, what's your approach to that? I mean, not giving away your secrets, just you look around and variously. Think about it. I end up doing it forever and then realized. My great fines are not actually very good finance at all. I think.

[00:05:13] And I've registered a few, but yeah, thinking of trying, trying to think of like domain names and, you know, then didn't see the whole four digit number coming, or I think all the five digits are gone and I'm sure all five digits are gone at this point. That's only 10 K so we know how fast those go. I'm sure.

[00:05:30] You know, I'm sure, you know, the numbers have been popular, but I still can't imagine that there's somebody just flipping, you know, 7 3 9 1 2, 4. You know, each day, you know, all these numbers. I think it's hard to understand how you know, how to find all of these different numbers in the end, but, you know, strong names are definitely going to be a good play here.

[00:05:54] I just tried to get 8, 6, 7, 5. Jenny, can I turn to you? Definitely not a Dottie to dress buddy's already burned to. All right. And you know, maybe we should move on to the next one because we're seeing how strong, what it means to have an ENS name. That is an Ethereum name. Of course. Now we've talked a bit about Solana we've.

[00:06:14] Uh, I think George finally was able to buy into a project. We had a couple instances recently of Solano, some bugs with the chain. One was that it was. It was down by, or is running behind for 30 minutes. Then the, uh, the whole chain just went down for another four hours. This isn't, this isn't that unusual, unfortunately.

[00:06:38] And it is one of the security risks that we talk about, like going to, uh, many of these other alt layer ones, those being non Ethereum layer ones. Yeah, it drops the price of Solano also kind of tanked like 14%, who knows why, but probably not, not because it seems to break on a weekly basis for multiple hours, which is, you know, the antithesis to reliable.

[00:07:03] And what's more when that drops. So to does any underlying, you know, NFT that you have on, on the platform, right? I don't know. I really I'm trying not to be such a hater and I, that's why I bought my, I have my see fish. What is it? See society, fish. I bought we posted in a reason, one, so disclosure, I have one of those cool analytics behind that.

[00:07:27] You know, I'm hopeful for the platform overall, but like, it's just, you know, you got to have a platform that's reliable enough to stay up and instill confidence. And if it doesn't, there's a lot of downstream negative. And along those same lines, we've got another headline here. There is a new Luna chain that was launched a Luna 2.0, it crashed immediately.

[00:07:48] I think it was over, down over 70% right away. I think it is close to dead again. So, you know, kind of saw that one coming who's that. People weren't putting much into that. I assume it was people just getting airdrops and then immediately selling. But yeah, let's be careful getting into, to any other of these new chains that aren't tried and tested.

[00:08:12] No trust, no token. And really it's just, you know, it just serves as another sad headline here. Hopefully some of the people that I got just completely run, run over and the last one got a little bit of, uh, an ability to recoup some of that. But again, you know, can, can we just stop creating these unstable coins and these these pieces have just hurt the market now?

[00:08:38] Well, yeah, I think that's it for a headline. So let's move on to our affordable project, which. When George is going to talk about today, it wasn't his originally. Tell us about this, George. All right. I have to, I'm not sure if I'm going to reserve. Thanks, but good old myth. 47 dot east, uh, in our, in our discord has been talking about flour.

[00:09:03] It's not that myth. 47. Hey, there's Keith address the names? Like what about name and then number, name, and number. All right. Let's park that in the back. We'll have a brainstorm later. Myth, thank you for bringing this and also keeping up the trend, uh, and really what this is. It's a, it's a game, it's a staking game.

[00:09:22] Uh, and it's on it's on a theorem, these funny looking flowers, the flower fam, where you can get the, uh, project, right. Flower fam flower fam. Yeah. And we have the Lincoln here and essentially what you can then do. Currently like the floor is at 0.1, three, three decent activity around it. But like, it was only about 12% of them open for sale because 88% of them are staked and they're staked because when you stake them, you can earn what's called Huntington's.

[00:09:54] So you stake your JPEG and then you earn yield on that. So a classic sort of yield play here. You can save up that honey coin and then buy things like a B, or the ability to attract, to be things that would then accelerate your staking rate. They've got land plans, other drops planned. It is a pretty robust discord.

[00:10:13] And so far the honey USD is holding up. But I think the play here full disclosure, I, you know, I love rollercoaster. So I jumped on this one. Is to, uh, to take a look at it and, you know, try staking a fire if you want to get in on it. But also keep in mind, you know, the I'm making $4 a day. So I will I'll, I've made my money back, all things considered in a couple months.

[00:10:37] So I don't know. Uh, but here's the thing. These types of dynamics work completely fine. Right? The defy game dynamic is fine until it's not fine. When the music stops number drops pretty quickly. And I've been saying this in the discord. So I I'm in this, but also have sort of flashbacks to Peggy exi, where it was fine when all of these guilds were jumping in and buying new assets in the marketplace.

[00:11:04] This is very important. The money must come from somewhere. Right. That coin is supported because people are buying it like me. I just spent money in to play this game. They get a percentage of that that goes into the economy. They're going to launch new flowers, secondary market, as long as people are buying and you see new people coming in, you're fine.

[00:11:24] Once that stops and profit taking starts, right. Everyone has upgraded to a certain level and they start to say, oh, I don't care about yielding that much more. I care about cashing out and you can look at these flows on contract and whatnot. Once the amount of sort of minted honey is being superseded by the spent money, the spend meaning things that are transferred out of the ecosystem.

[00:11:47] Once that inverted. Number drops fast. I actually thought it was a lot longer window for when that would happen. And I thought that would Peggy assay. I took back my initial, my initial amount pretty early, but then I kind of like, oh, every best. I thought it would last a few months, even at inverted. It doesn't when it drops, it drops quickly.

[00:12:04] Cause there's not enough market volume volume in terms of the number of holders of the actual coin to sustain a price selling pressure, which will again, drop quickly. So here's the. Absolutely not financial advice, but if you are going to get into it, monitor that. And as soon as you can you take out your winnings, you take in what you were, you know, spent a play with it, and then you're much safer playing.

[00:12:30] And be wary of doubling down when you're at or nearing top of this because you're juggling knives. And so there's the full disclosure. It's a cute looking game. Well-built, I'm very impressed with the technical elements so far, it's easy to use. So Bravo to that, leaderboards, whatnot, cute looking flower.

[00:12:48] I'm going to try to get a B I'm sure I'm going to get, I'm going to make mistakes. Even after I said this I'm going to hold too long. I guarantee it.

[00:12:55] All right. Yeah. I think you were right in describing this as a rollercoaster. Ups and downs. And remember that rollercoasters take a lot longer to go up than they do to come down. But yet he, you seem to be a sucker for a rollercoaster ride and just remember to get off the rollercoaster, they don't keep going.

[00:13:12] Nothing good happens to ride the roller coaster too long. Good. I'm going to send me back to run it, run it again. I'll say, do you have also, do you have some Thai food? I just want to gobble down a whole bunch of Thai food here. I'm just super hungry. Some of them settled. Whatever right. Well, thank you for bringing that one to us.

[00:13:32] Myth 47 and George for talking about that, I think we'll move on to our topic here. How many Timmins knit them? All right. Let's just mint the ball, all the things, all the things. I think in a previous episode, we talked about sort of when you have conviction, get more than one, so you can hold one, sell one in this classic, like, all right.

[00:13:50] I paid for what I got in four and I think that's fine advice. However, There's a nuance to it, depending on what, you know, what the base price is and what your appetite is for being able to afford that. So I've seen, you know, recently we talked about, I had an opportunity to admit to us Nazis and I, and I didn't, I think, you know, it was 0.1.

[00:14:12] I was like, eh, I had medium conviction and now looking back, I'm like, I wish I got to, however, there's others that went to junk and I'm like, glad I didn't get. Yeah, I think that's a good point. I think, you know, we've talked a lot about, you know, weighing the risk and reward of, of these and, you know, I think it's worth thinking a little bit of like, what is the worst case here?

[00:14:33] What do you think the floor could be? And if we're, and if we're thinking at about, you know, with, for me, the OSA NACI one was, was a smart play because I felt like it was a pretty low low risk that didn't. It was minting relatively quickly, a lot of good collectors. And he's a known collector. No on-site and an artist in the space.

[00:14:53] And it's felt like a low relatively low risk. You know, I thought that it could hang around 0.1 to 0.2 for quite a long or even the I'm sorry, even like 0.07 to 0.15, more like that for a time that it's risen pretty quickly to, I think it's around 0.4 right now. And certainly gone faster than I thought, but it's, I've thought about this a lot more and trying to, trying to wait for those types of plays, where I see a little bit lower risk.

[00:15:23] And, and when I do see that putting. Uh, you're missing a couple more because it does give you the opportunity. I mean, there's a confused things that it does. One is it gives you the opportunity to potentially mint something, especially rare. You know, when you're thinking, when you're minting, you're getting it at that, you know, the original price.

[00:15:39] And you do have the chance of getting something rare. So there, you know, if you believe in the project and you think that it's worth. That 0.1 or whatever the mid price is, you know, theoretically a rare piece from that collection should be worth, you know, some percentage more than that, a mid price. So each mint has a little bit more value and if you do it enough, you will get one of those.

[00:16:01] But the other thing is, is that you can, you can pick what you want to hold on to. You can also, like you said, George sell without being out of the collection. I find that it removes a lot of the emotion to me about. Whether I want to sell a piece and maybe end up with nothing in the collection I'm able to sell, maybe recoup, you know, maybe even if you meant three, you know, maybe you can sell one, two or sorry.

[00:16:27] Maybe you can even sell to two that you paid for everything. Like you were alluding to, uh, with the flower Fran project, you know, and take your perk of, take what you put in out and then still be able to, to stay in the project and. Not feel like you maybe made a big mistake and, you know, watch it go up and don't feel like you get to be a part of it.

[00:16:46] So here's the contrarian view to this though, is that 95% of projects that go through a mint end up with a price that happens below the floor. They just don't make it back. I'm also one to say, like I kind of buy and then I kind of wait and look at it. I'm like, Hmm. Did ya? So I think there are times where I'll get in on a mint, but then watch and wait and say like, all right, what's happening.

[00:17:10] So for instance, you know, we're, we're kind of looking at it now. And the, the ex copy that we got is down to 0.6, seven that's X copy. So I would say that if you had time that, well, you could have sold one for. I know over 1.5 each and you know, I should have done that. Cause as, as I did live on the podcast, I meant that to did not mean to you, you know, I'm sure if I did been to, you know, what I should've done was sell on once that price got up to at least one and a half you know, I think that's, that's, that's what I try to do a lot more now and trying to be more conscious of taking some profit to cover the mid.

[00:17:54] At the beginning, I would say that there's generally I, you know, yes, you're right. That a lot of, most of the time projects mint out in the floor price ends up below the mid price. I think there's often if you're picking the right projects, there's often a little exuberance around a mid doubt and The potential to, to, to sell something for over the mid price at that point, you know, it's not obviously for all projects, you know, you want to be picking the right projects, you know, and that's something that I think is easier said than done, but at the same time, it's.

[00:18:29] Wedding, some things passed by if you don't have much conviction. You know, if you think that there it's a high risk, if you could give it, doesn't seem crazy that the floor price might be half the mid price. You know, if that seems to be feasible, you know, that's not, that's not great. For me to want to get into something, I wouldn't have real high conviction then if that's my prediction for it.

[00:18:50] Yeah, again, easier said than done to actually to know that, but if you're, if you're looking at these things, you can generally get some sense of how fast it's minting. I, if I think it's going to. Mint out anyway. I'll probably, then I see that it's moving with some of the art blocks things recently that I talked about in the last episode I've been kind of waiting until there's about 30% minted at a, at a decent pace and see like, all right, this is, this is moving fast enough that I.

[00:19:18] This is the lowest price and people are buying it. I don't think that it will take all that long to sell out. And I don't want to have a gas war and hopefully convince maybe two or three of those before it goes and get to choose something. You know, it's different with different collections. We've had, you know, we've talked about things that are pre reveal.

[00:19:34] Pre reveal often is a great time to sell sort of before, you know, people buying. Unscratched lottery tickets, not sure what they are. You know, that is often a great time to sell. We saw recently a project that we're talking about in the discord record guy, we actually saw that those went higher after the reveal.

[00:19:54] That's pretty unusual, but. And I think when you do have one that you're buying CRE reveal, it's, it's, that's one where it's worth selling. At least if you have a couple of words, selling something pre reveal and maybe holding if you want to play that game to see if you get something else, but not so bad to be able to take some, some profit before you know, before finding out if the practice is going north or south after the, uh, after that point.

[00:20:18] Yeah. The, the other thing is like, if it's a Freeman, obviously max out what you can meant. No question. Right? Come on goblin town, goblin. You said it yourself, especially in a market like this. What I like is the confidence of saying like on the free mint, clearly the, the founders are saying like, we are going to get secondary gone.

[00:20:36] Right? This is interesting. So you're saying free mint. You should meet more. Mint as many as you possibly can and frame it, like, I dunno, right? Like get yourself. Yeah. Obviously watch that gas, you know? We've had some, that's a low gas recently, although I have noticed some with that a lot more spikes days, weird days.

[00:20:55] Very weird. It hasn't been as, I don't know, it's been quiet in the space, but. I don't know, I guess this has goblin town, right? So the, I want to come back to, because I was holding the point of the reveal, right? This game of the reveal of like, oh my gosh, excitement is coming. So I sold pre reveal on wrecked guy and I, you know, I made money.

[00:21:17] Look, it was a free drop. So if you're one of our affordable projects was Deakin's amazing. Pick by India. What a great community. We've talked about it. That then give you a free drop four wrecked guy, wrecked guy pumps to like over and ease. Well over. I think it's down to like 0.6 0.7 now are supposed to reveal, but there was, there was a high point.

[00:21:38] I made him, I made an error by selling before the reveal and in my mind, here's the. I did you make an error? No, I didn't make an error. I made half an hour is what I made. Right. That's what I most times that's the problem, right? It's an end of one, but my thinking is that the average sort of distribution for the overall resulting reveal, meaning that like we can't tell a certain image and then the owner just.

[00:22:09] Changes the URL and each one has its own image. You're like, oh, this is the 1% rare. Oh, I'm in the 90%. Not rare that technically should be if the market's price right. And average emiratisation across the entire collection. So you move from this, like, am I going to get the one one-on-one 100 or do I want to get my smooth out average value right now?

[00:22:29] And I'm like, I'll take the average value. And maybe that was, you know, I could've made more if I waited, I think most of the time though, there's hype, there's interests. There's people that want to play that lottery game. Cause they're like, oh, one of these could be worth 10 X the rest. And you're like, yes.

[00:22:44] However, you know, what game, what game do you wanna play? If I had to, that would have been a great thing, but I didn't have the power to do. Yeah. So I think that's a case where, you know, it would be nice to have two, those were, I think they were just actually per wallet that they were given out, uh, for DJs holders.

[00:23:01] So I don't really, I mean, it would be hard to have the, have gotten more than one unless you had multiple wallets, uh, holding them. So, yeah, that's a tough one, uh, for this many, you know, this discussion of how many to mint and I think you can actually apply. This idea to how many to buy when you're able to buy something at a low price, if you aren't going into it.

[00:23:19] And you know, think that it's about the low as it's going to go. You know, it may be worth getting more than one, but you know, you never know. It's more looking at, you know, what a most people gotten into to the project that where most people willing to sell. And, you know, I think you can sort of learn.

[00:23:36] That if you look at the activity for some time, uh, one project that George mentioned recently is the act guitars. And I've, I've been watching that activity a lot and that's just been it. Hasn't been looking for it to get down to 0.6 or so, and it won't get below point. 8.67. And even then it's just one or two, they're sticking at 0.7 and that's when we're, you know, I start to see after a while it starts to look a little bit more in tasting at that price range.

[00:24:04] When you just see that anything that gets much below that is getting snapped up pretty quickly. But it's also one where, uh, they're cool pieces and. I would want it to have more than one in the end if I could, because I think that there's a good chance that they, uh, you know, that they could catch on at some point.

[00:24:22] And I would hate, I would like to be right and like to stay in the collection. You know, if that, if that does happen, like, like when I say right to be right with, uh, being able to take some profits. Yeah. Because you want to hold it, I guess I'm getting a little less diamond handsy with some of my projects at this point.

[00:24:41] I think. The larger sort of upside I've lost out on. And it's like thinking I have to like, hold these things forever. Like you can always get back into the project, frankly, like the chance that you were like happened to be holding, like the one thing that's going to go wrong. Uh, so I've, uh, I've begun to be getting back to our episode about head and shoulders, right?

[00:24:59] Like I'm aiming for like the, the, the shoulders and knees, I should say. I'm like, I'm fine taking a profit where it is so that I can find another project, but the, the by twos is really if you're able to, especially for a smaller level, uh, the way to go and, you know, the larger, it gets larger, it can false.

[00:25:18] That's where I get that. Yeah. I mean, right now, you know, executors are certainly. I dunno in the affordable range necessarily. It's it's, you know, for that, it's more that you start to see, you start to see that there is demand at a, at a slightly lower price, I guess, you know, but that's, that's one where it's a little harder like here's what I'm going to do.

[00:25:39] Here's what I do. So by the way, flower fam the team, I forgot to mention not fully doxed. So lot of, a lot of great signals here. Uh, here's what I think is going to happen. There's going to be increased attention and then pressure. Cause everyone's staking their flight. As soon as the flower fam that price gets close to , I'm going to sell my flour and go get a, go get an Acura tar.

[00:25:59] All right. And if that's my play, this is not financial advice. I'm talking about getting one JPEG for another gift back. All right. I like it. I like those avatars. You know, that's when we're, it would be tough to ship to a, get a couple of them necessarily. But, you know, I think that's the right to have the idea that you don't need to be diamond handed about these things.

[00:26:19] It's not, you know, this, isn't the case of one project that's gonna take you to, you know, to board a planned at this point. You know, there's a lot of options out there and chances are that there's gonna, that they're going to have some success. And that it's going to reach it. You know, it's going to plateau or it's going to move along slowly.

[00:26:37] At some point you had another note here in our, in our show notes that I really want to touch on and it's better to pass on mediocre projects. And with the poor risk reward profile. And save for good projects. You know, we are, you know, we had our shopping list. We're talking about guitars were, you know, bringing up these other, other projects along the way.

[00:26:58] And I think it's getting easier to separate the wheat from the chaff. And while you can run around and try to find the next goblin town and bet on every single mean, like by the way, get on whatever free mint you can find do it. If that's your hustle, it's a fine game. Right. You've spent paying gas to be in the game.

[00:27:15] Okay. But I think saving up and then really looking for quality projects as a play on levered leaf is, is what I'm looking at still. And I, you know, I don't think entities are going anywhere. Yeah, I agree. And that, that's good to mention that point that I mentioned that I had written there. Just, I think there's a lot of, I don't know, there's a lot of projects that are on sale for people that are going to be around the space.

[00:27:40] For a long time and worth looking at those rather than hoping to catch the new lightning in a bottle or, you know, goblin town. And I mean, obviously if it's free, go for it, don't go, you know, don't go giving away your Eve and hoping that your, that it's going to turn into Maurice. Oh, and the, and the project I can never say no to.

[00:27:58] I picked up another moon cat, speaking of which they fell below my buy price. I got a little orange tip. Well, smiling, happy fellows. That's a good one. And that's some it's all me. I was like, all right, what do we got here? Wait a minute. It's orange. That's rare. There's a clear face. That's good. It's happy.

[00:28:13] Which seems to be they're more frownies than happies. So I got a smiling orange Tabby ready for action for under 0.3 and I waited patiently and just check it's just so much more relaxed time to be trying to. You know, even to, to projects that, yeah, it is nice to be able to, to shop a little bit more, kind of wait it out.

[00:28:36] You know, it's hard at times to be patient as a buyer, but I do feel like it's easier when you realize that there's a bunch of different collections that are worth watching, putting on a list and then just be patient. Wait. I know for me, I'm trying to wait for offers to come through for the most part, unless I see something.

[00:28:54] That's very mispriced. Yeah. I've been less on the offer and more on the like watching and knowing enough about a project to wait for that in this price. And I'm always looking at the recent activity to be like, all right, where's been the most like lowest low, so not the floor, but the, like the, who got desperate at one point and drop something.

[00:29:14] Yeah, I should actually say I've been more, I've been using offers more often when I've already got pieces of a collection offering at a significant discount. And that's the intention is either I end up with it at a discount or maybe it, uh, you know, gets inspires somebody else to go buy it ahead of that.

[00:29:34] Or at least make an offer ahead of that. You know, either way I'd be happy as far as someone picking up another piece from the collection or ending up with it at a discount. Alright, good topic. Good theme. See out there, join the discord. Remember none of this is financial advice and leave us a review so we can build up that massive audience so we can avoid insider trading.

[00:29:57] That's right. Yeah.

 

Insider Trading JPEGs | Project: Ancient Courses by Robert Hodgin

Theme: Insider Trading JPEGs 

• Nathan Chastain, formerly of OpenSea, charged with “insider trading” in the form of digital fraud
• What does this mean for crypto exchange employees, influencers, NFT project creators, private discord members, etc
• Blockchain & social traces gives public & “definitive” proof not available in other industries

 

• Affordable project: Ancient Courses of Fictional Rivers by Robert Hodgin 

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Former Employee Of NFT Marketplace Charged In First Ever Digital Asset Insider Trading Scheme | USAO-SDNY | Department of Justice 
    • PoolTogether Launches NFT Sale to Fund Ongoing Litigation - The Defiant 
    • Golf equipment brand Callaway forges relationship with NFT club LinksDAO 
    • New NFT Scam: Skills Of Arcade Malicious NFT Is NOT Legit 
  • Transcript

[00:00:00] Today on all about affordable NFTs, we are talking about some insider trading JPEGs. We're getting pretty serious here with this, uh, open sea accusation. We'll get to that in a little bit, Andrew, how's it going? What are you seeing? Uh, well, see in this, this news about insider trading here, but, you know, just to be clear, this is, this is available to everyone, everything that we talk about here on this podcast.

[00:00:24] So this is publicly available information. As of now, anything that we are saying, these words you hear right now, we have disclosed. Also sometimes we do. I will. So we're making a joke about like, you know, when information is publicly brought or not brought. Yeah. We'll get into a bit, so yeah, what we're talking about here is Nathan chesting formerly of open, see Nate dot E uh, he has been charged with a form of insider trading.

[00:00:53] It's basically some digital fraud, uh, by the FTC or the, by via the FTC. And so he has by actually facing. From, uh, the district attorney, right. Of New York district in New York, they don't mess around. Yeah. So yeah, they, they have church and with two different accounts here of insider trading, because he was, uh, buying up, uh, some collections before featuring them on the front page of open seat, then selling them afterwards.

[00:01:24] Th this is all through not his main Nate dot Edith account which, you know, certainly doesn't. Him here. You know, what's, what's I don't know. What's kind of funny about this is that it's, we're really talking about, I think about 10 Eve that he profited and, you know, compared to many of the other scams that we see in this space, this is a relatively small amount and I'm sure, uh, you know, certainly not worth whatever.

[00:01:48] It certainly wasn't worth risking his job for this. So, you know, obviously a huge mistake here and now, uh, facing much bigger, much bigger potential, uh yeah, losing the word here. Uh, yeah, I've seen criminal, uh, sort of criminal consequences and you have to 40 years because of the per count issue on each of the.

[00:02:10] The notes that they've found in this case. So, I mean, 40 years for front running JPEGs is, is real, but let's take a step back though. You know, what may be happening is a larger precedent. Obviously like the Southern district of New York. Do we want to get a lot of work? But right. Great. Now we're maybe we'll get into this more when we want to get into this.

[00:02:29] This is worth talking about a whole lot more, but that is the news. That's the big news. That's a, you know, kind of all over NFT world right now. And hard to ignore that. So we will get into that a bit more. Well, a couple other things going on here, uh, we've got pooled together. A, so this is a, let's see a, sort of a.

[00:02:47] they like to call it a loss. That's the problem. I guess I shouldn't say that it's a lottery. That is the problem is being called a lottery. And really it's a savings account. You put some in there, you don't lose your eith or whatever you, you put in there, your state get, essentially you say I'm not going to remove it.

[00:03:03] Then they earn interest with the. That is in there. Somebody gets all of it by, you know, they pick a winner. Anyway, there is, uh, a lawsuit out against the, the, uh, protocol here. So the founder is, uh, trying to raise money to, to vend himself and, uh, against these charges. I believe the person that has said has brought the charges, traded about $10 worth or some that are deposited about $10 where something very minimal.

[00:03:29] And so it's pretty clear that they were looking to. Yeah, looking to make a lawsuit out of this. So whether it ends up being frivolous or not, as the founder has called it you know, he needs to defend himself. So he is trying to raise funds via this, uh, pull together and FTE sale. It looks like, I think it's up to about 1,000,900 thousand or so right now.

[00:03:52] So that is out there. We've got a link. I have not I haven't actually purchased one, although I feel maybe, you know, maybe I should support, uh, someone trying to do something. Excited or at least what I think is on the right side of crypto right here. So interesting use case here, you know, we've seen this in a few other places and you know, I like that, that, uh, there is an option to, to raise funds where you and NFT.

[00:04:13] Yeah. It's power of entity with a purpose and we've seen it, uh, uh, times before, but rallying against the sort of injustice. Right. And so that all that will drive it. I mean, it's clearly not for a revenue break here. It's more for a statement piece. And you know, if it goes down as a, is a historical wind potentially.

[00:04:30] That, you know, that could be an interesting point of point of pride if you're, if you're picking it up, but yeah, you got some dollars go, you know, let's say that pool together goes on, uh, to, to be successful here. I think there's a decent shot that there could be a, something for the supporters down the line.

[00:04:47] Yeah. It looks like they've got a 769 east goal because of course, 69. And, uh, there, there are about 530 these on they're on their way there. And they've got the mid now@mintdotpulltogether.com. So we'll toss that in. I mean, he can find that.

[00:05:03] All right, moving on to the next one here. We've got okay. Yeah, we've got the links down. This is a Dow, that's one of promises to buy a golf course eventually, but they have actually forged a relationship of some sort with Callaway. They are supporting them and I'm not exactly sure of the details, but I saw that they, uh, you know, had kind of hinted at some big news coming out.

[00:05:23] And I would say that is relatively big news. Calloway's is a big known golf brand and they are, uh, And dinner a partnership of some sort with a Dow. So hopefully this keeps going and they can, you know, this can be one of these success stories of a Dow. You know, we've seen a lot that have not been able to achieve, uh, their stated goals quite quickly.

[00:05:44] Uh, so, you know, it's nice to see that this is still going and developing into something. You're going to see you. I think, uh Dows and NFT. Extend into membership and SAS relationships quite a bit, right. Anywhere web two has previously been like, Hey, you know, buy a credit card thing and you're in a database.

[00:06:02] Like there's just an inherent power to moving that. It's also a collective ownership. And I think we're going to see that more in sports, and you're gonna see that, uh, for sports teams. And it's interesting to see that for, you know, classically a golf course, which traditionally is supported by member fees and.

[00:06:17] Question is after the initial one, what happens on year two, right? That's the ongoing, or maybe you get the option to mince your year two and who knows, but that's yeah, we'll see. I mean, you know, I think that's a, it's an interesting analogy to say that it's essentially a member owned, uh, club and a member of members own all of the pieces of a collection and, you know, kind of up to the members to figure out how to, how to fund that and move, keep moving forward each year.

[00:06:45] I would just love this, like, sort of like that, like dowel voting on whether or not to make like the steepness on like whole 12 higher or lower. And I do agree it's too fast. It's to put it to a vote.

[00:06:57] All right. And lastly, this is a scan that I've seen pop up recently. Uh, I definitely noticed this in my own wallet. Some pieces showing up in my wallet with offers on them of an offers of like 0.7, eight or something. And the, the scan is here that they won't the offers won't actually be valid. They tried to eventually get you to go to another to their site which will immediately pop up where it strikes, uh, a, uh, met a mass sign and trying to get you to sign a transaction immediately.

[00:07:27] You know, and that's obviously dangerous, never want to never want to sign anything that you aren't very clear of what it is doing. But that is a new one. So just be on the lookout for that. If you do see something show up in your wallet, that's not that unusual. It's more unusual to actually see a relatively, a decent size offer on those.

[00:07:45] Do not try to accept those, you know, we can hide that in your open seat wallet. Uh, just be careful always once you click also, interestingly, buried in this story is that open, see recently made its code a fully public available to the public positive, negative implications, as they say, but hoping that others will help able to provide code improvements.

[00:08:06] So we'll see.

[00:08:08] All right. Well, that is it for headlines. We'll, we'll move on to our affordable project, which I have one for us this week. Are you going on fire? Actually, you're OSA. NACI I'm gonna pronounce that. Right? B O so Nachi just been creeping on up, creeping on up. I hope folks in discord grabbed on that. It's not a bad pick before, so yeah, that has done, that has done love and happy.

[00:08:31] You know, I don't want to pat myself on the back too much because you know what happens in this space. Oh,

[00:08:36] all right. So with that being said, I do, I have an art blocks, uh, collection here called ancient courses of fictional rivers. The artist is Robert Hodgkin, a artist out of, I believe he's in Brooklyn has been doing generative art for some time. I'm really impressed with some of the physical prints that he's done.

[00:08:54] Although I don't have one, they're almost sold out. He has a monster. Definitely recommend checking those out. What this collection is, is a thousand pieces of generative art, you know, eat. So we've talked about this a bit in the past. It's meanings that the code is run. There's a thousand different variations that come out.

[00:09:09] The idea here is it's. These are rivers. Over time, they're not real rivers, but you can see different how they move over time. And then the civilizations that sort of pop up around them. When I first was looking at this full disclosure, I do have a few of these. They were under 0.2 Eve 0.2 was the was the lowest mid price.

[00:09:29] They did a, uh, they do a Dutch auction with curated pieces. So it pointed to was the lowest price that they got to, they did get down to there. After starting, I believe at three Eve sort of hit at a. Know, not a great time where there wasn't much wasn't much going on at all in the NFTE space was pretty quiet and I feel like they had snuck through a bit.

[00:09:51] So I was able to pick some up under 0.2. There's a couple still under, uh, under 0.2, five. I think the floors are on 0.2 right now. I really liked the look of these and, uh, you know, I should say that, uh, my wife, my wife also helped me, uh, come to this collection. She hasn't seems to have an eye for, for some of these.

[00:10:10] And definitely helped, uh, helped me pick some of these out. I think that the collection looks nice. I don't know how fast people may. To this collection, but it does, it seems like a relatively low price. Especially if you can look around, it's not moving real fast. And I was able to even get one offer accepted at 0.15.

[00:10:31] So there are a handful under that at 0.2, five and under, and I think it's. Worth checking out for keeping an eye on, if you, uh, if you're looking for an art blocks piece, there's curated collections, they've scaled way back and how far and how often they're offering them in a number of pieces in these.

[00:10:50] And I definitely noticed that our blocks in general has been minting out many more projects recently with some of the changes they've made to, uh, the collection sizes. And I think. That's something that I like in, in, in this is that you've got a lot of collectors people that are looking for maybe to put a few of these pieces together and not just hold one.

[00:11:09] So I think that the. If you can get in at art at it. Good art books. I mean, on a good art blocks project at a relatively low price, they will hold some value. Well, over time. So I like this one, there are blocks had this big boom, right. And to get into our blocks because there's many people joining us for the first time, our blocks would just popping off last summer.

[00:11:31] So an option like this, right. To have gotten into it, it would have been one again. And the floor would have been like for you just because it came from, and this is important, the curated side. Cause there's a lot of. Like there's like the art box other projects, and there's like a curated area. So the hit factory playground curated is, you know, that's, that's the primary stuff.

[00:11:51] It's the stuff that I focus on the much, the most. And yet there was a time where this would have been at certainly over one the piece, but I think they would have been up to over three just because it was in our blocks project. Our blocks is definitely cooled down. You'll still see some, you'll still see a lot of floors.

[00:12:08] That's. That are people selling off at a pretty steep discount to what they may have paid, but I think it's also come around a bit where people have overlooked. Some of the, the quality collections because of that sort of disappointment of price that a lot of people are experiencing. You know, it's hard to go talk about it when you're, when you're selling a piece for a, uh, for a pig, a loss, even if you're selling it for two and a half feet, you know, that's, now it looks like a good sale, but not so much if you, uh, if you hyped in at 80 or something, Yeah.

[00:12:42] And just to coming back to, uh, this particular artist, I will say, just, just to note on the art, I have never seen anything like this. It is just mesmerizing. It's an active piece that actually develops, and there's like, you can press different buttons to reset it. And it is a very beautiful dynamic. The, the artists has got a lot of work behind it and actually looks like about 25% of this goes to a social impact causes, including not limited to the environment and Ukraine.

[00:13:11] So a nice narrative there, but, uh, that this guy has got a bulk of work that he has put out there. And this is, this is good looking stuff. You know, I was looking at art blocks too, and I noticed that the, the squid. Which were the first, I believe original drop by snow fro in blocks arena. You know, they peaked it like they were going for like what 28th or something absurd at one point.

[00:13:35] And now down to like six Eve, which is very interesting as well that, like, I think there's a very sort of, it's not going anywhere, at least from where we stand in terms of Capitola art and its role in NFTs. But the whole ecosystem there is significant. Yeah, overall. I mean, you know, like I was saying, I think it's way down there.

[00:13:56] It is way down from where it was. They are, you know, I should, I also do some work with our blocks, you know, I know. So I should disclose that as well. But they have made some changes to how many, like I said, how many pieces they're offering in collections, how, uh, how often they're offering collections.

[00:14:13] So I think they have a max of two collections they'll do per week. And that means. Anything across their curated playground and factory projects. And so the last factory one was a called daisies that sold out relatively quickly, I think about five minutes, but it was, so it was a collection of just 200 pieces.

[00:14:32] You know, I think that that is a more appropriate size for a lot of these collections that may otherwise struggle to, to mint out. But then you see. It doesn't take that many collectors to, you know, to show some demand there. And I think that's appropriate 0.5 eith floor now after minting at 0.1. So, you know, in general, I think it's worth checking out our blocks a bit.

[00:14:52] If you want to get into degenerative art right now, there's some, the, the new mints are. Are going at a good speed, but not gas wars. So, you know, it's, you gotta be ready, but you know, ready to go, but it's not something where you have to, uh, to really pump up the gas a lot to, uh, to, in order to get your transactions.

[00:15:13] Right. So that that's been good. Great. As I'm saying, this for price is a 0.2, looks like a, about 541 owners for those thousand items. As you mentioned, danger, you, you do own. Uh, a number of these and it looks like it kind of came out early, April dropped, uh, no, March 29th and is, you know, kind of been steady, but hasn't, hasn't blown a woman, the doors off.

[00:15:38] And so this was one of those that was interesting, fine. So far, you know, I think I may, I may go with on this. I may go with similar to the us and Archie. I think there's a no good are good time. Good value. All right. Yeah. I'm going a little long there. So we will move on to our insider trading JPEGs in trader trading, cartoon animals, whatever you want to call these things, you know, we're, we're flipping JPEGs out, right?

[00:16:05] And now it's insider trading and woo. This is big deal. This is a big deal. It was a big time that we made it. Now. Our NFD is legit. Yes actually, because they're not, they know we're joking around, but I think in someone's mind, you're like, oh, you're just playing around as like, you know, I'm joking around in marketplace.

[00:16:21] It's an image like who cares? Like that's a commodity and the Southern district of New York is not messing around when it target someone. And as I was sort of like going on that, you know, narrative earlier 40 years, 40 years is on the table for doing this. I mean, this is, as you know, you're dealing with.

[00:16:38] You know, the, the world of securities and commodities and in the world of financial transactions, the government doesn't like it when you front run and doesn't like it, when you act on private information, unless of course you're in Congress and then you can do whatever you want and you can sell all your stocks and then put the entire country on you know, on pause, you can do that if you're in Congress, but if you're not in Congress, you can not.

[00:17:03] So I know that's a big segment of our audience, so, you know, I'm sorry, you can, you can just tune out for the next, wait a minute, come back. You're in Congress and you, uh, can you do insider trading and JPEGs? Yes. Oh, boy. I mean, I think it's interesting here, you know, I, I liked when, what opens he did when they got rid of him, this was certainly wrong for the company to have somebody doing that.

[00:17:29] And I thought that was appropriate. You know, I'm afraid of. This could mean for the NFT industry. We know that there's a lot of cases of people acting on information that is not public. You know, we've seen many cases of pre reveal collections where specific pieces are sold for well above the floor price.

[00:17:48] And then turn out to be rare pieces. What happens there, you know, we almost, we've certainly seen influencers and, you know, various levels of influencers from, you know, what we think of as Dick talk influencers to, you know, more, uh, maybe financially connected web web to, you know, type of people that seem to have a lot of information about collections before.

[00:18:13] The public does. And I think that we are entering a somewhat dangerous spirit here. If this is, if this is the precedent because there's a lot of people acting on non-public information. I think you could even say that there are private discords where, you know, inside that you have to be a collection holder you're then a owner of the collection.

[00:18:35] You're an owner of the company. Something of that collection of, is that what we're saying? Oh, I think that's and also what is a company, right? What is public information? Non-public information. Yeah. I don't want to be in this situation. I mean, it puts, it definitely makes me uncomfortable having certain conversations with, with people than thinking.

[00:18:53] And makes me think about this in a new light here. Oh, I hadn't thought about that way. I guess in my mind it was because open C is a much more established company. With, you know, uh, legal standing that it's seen by the government as like, okay, you, you you've promised to do this thing and provide this public good.

[00:19:13] And as part of your sort of service, you've, you know, allow people to buy, sell, hold, trade commodities, you've taken fees on those. Like that is your core business to do this. And there's a certain consumer trust involved with that. And that I imagine is what they're protecting, but taken to a logical.

[00:19:32] Extreme extreme. You are. I don't know where you draw that line. I also, I heard this on different narrative of saying like, you know, how different is this? Then a Nike employee that hears that the new air force ones are coming out with such and such, and they get a, an early drop and flip the shoes. They get in line early and they're able to, to get that like, okay.

[00:19:55] And to get there, I believe there was a, there was an executives, son, I believe who was arrested for, uh, flipping shoes on stock X. Uh, Oh, yeah, because he was, yes, because he was buying them early. So maybe, uh, you know, I don't have the link here, but you know, maybe the that's a good analogy and there you're right.

[00:20:16] I think there is a difference because that is the company actually doing the trading. And now I think we're, or I'm sorry, not doing the trading, but acting as the marketplace. The, you know, providing the place to do the trading and suddenly they know that they have influence over where people go on the site.

[00:20:35] And he certainly isn't really not helped either by, by using the hidden wallet. And I think that we are entering a new hazier where it's all on the blockchain, you know, between, you know, looking at. Archives of, of Twitter records of social media posts and looking at the blockchain, it's pretty easy to look at how the timing of things goes down.

[00:20:57] And there's not that level of, uh, I don't know, sort of intermediation between these where we can no longer directly see someone acting on something, doing something and, and, you know, Or, you know, in where exactly what time they did that, the blockchain certainly does that doesn't help them here. And you know, maybe he made the mistake of connecting it to his old wallet, but, you know, I think I like to see that there's something happening, but I also think that there's much bigger issues in the NFP space, and I'm not sure that this is going to make anybody feel safer that doesn't already, if it isn't already willing to get into NFTs.

[00:21:39] I'll take the contrary to that. So what I like to see is the government and regulation taking the NFT marketplace. Seriously, this is serious consideration of what should happen in this case. That is yes, complicated, but I would be more alarmed by simply leaving this to the wild. Being like go have at it, vigilante justice, the community rallied on Twitter and found you.

[00:22:06] So judge, jury, and then the execution was open C and they determined that this was the fair punishment for this look. Consumers were defrauded because this person acted in bad faith with insider information because they was buying early unfairly and dumping on the public market. I think, as a consumer and I'm going to be wandering into these platforms.

[00:22:29] I liked that these employees realize that they can't just kind of, because they can hide it in a wallet, which is just, let's just park how stupid that is for a moment, because everything is on the blockchain. Remember that, remember the technology that all this is built on is actually gonna make it far safer than these other industries.

[00:22:47] Uh, I, I liked that what will come up? This is some clarity actually knowing where the third rail is, is safer than guessing where it might be. And I think that might in the long-term in the short-term. You know, this, I'm not a fan of Nate by any stretch, but I think it's also unfair when somebody serves as a sacrificial goat for a cause.

[00:23:08] And I think there's a little bit of column AB here, a and B happening here. Yeah. There's definitely that. And you know, I definitely want, I do want more protections, you know, I guess I would prefer there to be. I, I prefer that they were going after some of the big scammers that we've seen, but I've taken a lot more out of, out of the space.

[00:23:28] Uh, you know, we've seen some big ones to the tune of 70 million. Was that for, although that was a I dunno, we've seen some big ones anyway, you know, I guess I do want something happening here. I'm just not sure, you know, this is it's, it's making an example here and that's, that's the point. They know him, they know exactly who it is, you know, there's plenty of, of records.

[00:23:50] There's no needing to go through and figure out who an anonymous person is or go try to deal with another country or you know, pretty easy in, in, in that sense. So, you know, the unfortunate. But it will, uh, you know, one thing I wonder does, do you think that open sea is at all at fault here? Do I believe that open C is at fault here?

[00:24:11] I would have to have more information about their employee guidelines and legal, uh, legal setup here, you know, for instance, uh, I know, you know, when you go to work for, let's say a hedge fund, you're dealing in equities. Yes. You can only hold a certain generalized bucket. You can no longer deal in individual equities, right?

[00:24:31] There are actually like restriction restrictions that can come into play for people that work in this space. And so did they create, here's the question? Did they create a culture of compromise, a culture of, you know, you do you and just show up to work. And in that case of handling, you know, this type of, uh, asset market.

[00:24:55] Maybe, I think it's worth looking at me personally. No, I didn't do anything wrong that guy's a trick.

[00:25:01] Wait until we uncover what else is going on on the blockchain. Uh, but again, I think a mold grows in the dark I'd like that sunshine is being shown here. Sure. A heck a lot better than it's frivolous silliness happening on attacking that, like, you know, the savings account for crypto and . You know, these are, these are all really, really important steps this some more so, because it's going to legitimize NFTs, uh, as this sort of asset class.

[00:25:30] Yeah. You know, who knows what happens at the end here? That's not going to be easy for him to fight, but I think you're right. That it will at least, you know, we'll know where the, uh, where the boundaries of.

[00:25:39] Yeah. Even if they're, they're widened scary, but again, in the short term, I think you're absolutely right. If you're asking yourself like, wait a minute, I think it's like be on the safe side, but also like clearly you're, if you're in a discord and you're a piece like that, and you're not getting things that are not, not public be careful if you're getting things that are like in a discord.

[00:25:59] I think you're fine. I'm just gonna be honest. Like if you're in, for example, like here's a, here's an exam. Right. Like we have a podcast, obviously the millions of followers that are listening to every episode and removing, removing project. Hey Congress, we just, by the way, you know, I think we can be, uh, we'll start disclosing that in a discourse, if you ever want to see what's coming up, but like, let me play this out.

[00:26:21] We know that we're going to talk about a project and that episode is not going to go live for another four or five. And frankly, we can buy into that project because we know that that's coming. Now, if we had obviously joking, maybe if some of you left a review and we'd have more followers to really, really move markets, but like jokes aside, if we bought that and then pump that and then dump that, that is an absolute unquestionable form of insider.

[00:26:51] Right. We are privy to information that this is going to get a promotion that only we know and hasn't disclosed. So again, maybe a good note to us. I'll continue to drop that in our discord, which is a public notice open discord for anyone to get there, by the way, none of this is financial advice because we're talking about Jay tags on the internet, which by the way, if you trade down on the insider, you could go to jail for a long time.

[00:27:11] Does that clear everything up? There's no real risks here. Right? So you're saying we're all in the clear, easy to buy JPEGs. Yeah. There's no worry about holding them in a wallet. Links are safe or ignore everything. We just said the last 20 seconds here in summary, join our discord. Leave us a report. Leave us a review.

[00:27:33] All right, Andrew. Good luck out there.