All About Affordable NFTs

Let’s Talk Dune Analytics for NFTs | Affordable NFT Shopping lists

Let's talk Dune Analytics

• • Dune is a platform for analyzing on-chain data via PostgreSQL
  • Most features free
  • Learn how to use Dune (Andrew/Rantum lead lesson on NFT data)
  • Uniswap Community Analytics contest with payouts for all qualified entries 

•  

• Affordable project: what’s on your shopping list:

• George: Akutars, MoonCats

• https://opensea.io/collection/acclimatedmooncats?search[sortAscending]=true&search[sortBy]=PRICE 

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

• Andrew: FewoWorld, Regulars

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

• https://opensea.io/collection/fewoworld-paint?tab=activity 

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Someone Stole Seth Green's Bored Ape, Which Was Supposed To Star In His New Show 
    • Pharma Bro Martin Shkreli: Ethereum's Vitalik Buterin 'Brilliant' But Also 'Full of Shit' - Decrypt 
    • SuperRare in SoHo: NFTs in the Real World 

 

 

Transcript rough:

 

[00:00:00] George: on all about affordable and FTS. We're talking about dune analytics. What is it? What can it do for me? Fortunately, we have an expert in house, Andrew who will be able to explain a bit more of that. But first, Andrew, what are you seeing in the news

[00:01:01] Andrew: Sorry, I'm just adjusting this wizard hat that I have on over here, of course, because it's not experts. I'm a dune wizard. Sorry.

[00:01:09] George: Gotta use the lexicon minus.

[00:01:12] Andrew: Uh, Anyway. All right. What are we seeing out there? So this is, this is an interesting one. We've got another, another board aid theft, you know, we've we talk about another crypto theft or scam all the time, but this one is uh, from Seth green. Um, It was with his board aid. I think there were a couple of mutant apes, maybe as well in the wallet, but this, so someone hacked the wallet, they got these.

[00:01:35] So, but what's really interesting about this was that he had been developing a animated series using these apps. So he had been working on this since July uh, It's a considerable amount of time that has been put into this. And we've also seen the price rise a lot since July. So he was smart enough to buy them at a much lower price and has been working to put these into an animated series.

[00:01:58] He has produced many of them in the past. So um, you know, I think it had a pretty good chance of. You know, seeing uh, seeing some production and get, actually getting out there, but now these have been taken. And there's a question of whether he has the right uh, the IP rights to continue producing the show.

[00:02:17] Uh, At least one of the apes was that was stolen, has been resold to another user or another uh, sorry. It's a Twitter user that he's trying to reach out to, to no avail at this point. Um, It seems unlikely that that buyer would have known that it was uh, stolen, but you know, it does bring up some questions about what happens with the IP here.

[00:02:43] George: I mean, there's no question. You don't know. You're not on the IP and suddenly you built an asset and some it, you know, what it equates to like domain squatting. You let your domain run out, but then you built this giant company which relies on that domain name specifically because it's built into everything that you've done.

[00:03:01] And you're just sitting out there in the breeds. Honestly, you know, the it's tough too, because this is so far into the public sphere of people being like, that's why NFTs aren't safe. I gotta be honest if you're building up that much asset around it, like you shouldn't have had it in a hot wallet, it could have been like click, click the buy on it.

[00:03:20] You know, that's, that's when you transfer to cold storage and you put it in a safe, if you're putting that much equity behind it, you know, it's, it's unfair maybe to expect that from the average user to be like, oh, well, you know, you got hacked, it's your fault. But if you're, if you're investing that amount, like, you know, that that's pretty serious.

[00:03:38] Um, That's pretty serious that in terms of you have to take your, your.

[00:03:43] Andrew: Yeah, absolutely. You know, the only, the only reason I say there's some question about it is that if it's stolen and that person is possessing them, they wouldn't necessarily. Own the IP, but if they've been resoled and the person doesn't have doesn't even have knowledge, you know, I don't know. That's, there's all sorts of questions about this, but I doubt that those will, that the production will happen with the same NFTs.

[00:04:07] So maybe there'll be replaced. I think it would be cool to see, you know, to see an animated series with these, you know, and start seeing how people can use uh, use the IP that are, that you get is trying to give to two holders.

[00:04:21] George: Yeah, I, you know, my heart goes out to him. It's like, it's, it's tough. You're, you're, that's a hard, hard place to be. And it's clear that he's like trying to make a lot of noise to try to get some sort of public support back. But there's no support customer helpline. There's a wallet with an address and a secret key. Oh,

[00:04:38] Andrew: And for some reason that seems to attract all of, all of the people that just, I don't know, see, see opportunity and we'll run a scam and try to do it without calling it a scam. We've got Martin Shkreli coming back out of get fresh out of prison. He's easy already. He says he learned how to use Metta mask while in prison.

[00:05:01] Um, He's, you know, all over Twitter spaces talking about this now has called uh, Vitalik Buterin, S as reading this headline, he's told him brilliant, but also full of shit. So, you know, he's wasting no time and stirring up headlines. Can't imagine that he doesn't see all sorts of opportunity in crypto and NFTs.

[00:05:23] I would be very wary of, of what he is touching um, and state far away. If uh, if you can help it,

[00:05:32] George: Are you suggesting that cult personalities tend to lead toward disastrous outcomes?

[00:05:39] Andrew: we have seen a couple, couple

[00:05:42] George: Name one name one in the last, in the last two weeks. Just name one.

[00:05:46] Andrew: Okay, well dope. What are we counting at once? Or has another one already happened? He may have already rubbed everybody again.

[00:05:54] George: You cannot repeat offenders. You can't triple stamp a double stamp. Cool. Uh, Yeah. again.

[00:06:02] I joking aside be. Be very wary of cultural personalities and our recent episode, we were just talking about our suspicions of Adam Newman. I don't know when, you know, you are more selling yourself and selling somebody on an idea rather than your actual execution of work.

[00:06:19] There's a there's questions. There's questions that come up and it tends that you're, you're serving the ego rather than the true outcome of a. Uh, With, with potential leaders like this, there'll be interested in the watch from the sidelines though, on the plus side, he's very bullish Heath.

[00:06:38] Andrew: There we go.

[00:06:39] George: He thinks he is going to flip Bitcoins. So in this I support you. Anything you want to do to help that train, let me know.

[00:06:47] Andrew: All right. And one more uh, one more thing of note here. Super rare. The art platform has opened up a gallery in New York in Soho. Uh, I think it is a it's. It's good to see these galleries opening up. I think it's a good way to start bringing, bringing the art aspect of this to life a bit more and letting people see this from not just looking at it on their phones or computers and, you know, do this in a social.

[00:07:13] Public setting.

[00:07:15] George: It just makes also a ton of sense. Cities like New York where there's not a lot of wall space and you can essentially have like, I mean, I've seen your rig and love it. And you've got your art, like on display, rotating through you have one spot and you want to have pieces move through. And it makes a lot of sense actually.

[00:07:38] And I could definitely see it as a trend that picks up. Uh, It would help hopefully a longer tail of artists and collectors get in into that practical IRL case of why the heck did you buy that JPEG? It's common. We just, just gotta wait, wait for youth. Not to be under 2000 and the market nut to be bleeding every single week.

[00:07:59] I'm not going anywhere though. I'll say that I'm I'm pot committed. I'm full sunk cost fallacy. Um, Alright, affordable projects, the plus side, right.

[00:08:11] The plus side of the market's going down is it is time to keep your eye on a shopping list. You know, it's finally not about FOMO. It's about uh, what you know, and where you see long-term value. We played that game of looking back. A year into crypto slam and saying like, oh, this, these are the projects that survived and did.

[00:08:31] And right now there's two projects that I'll, I'll continue. Uh, There's more than two, but I'm choosing to, and Andrew, you can have uh, two or, or more, as many as you want as well. So one of the projects I'm going to keep keeping my eye on is . And this is the one that famously had that really sad sort of, I think it was like $30 million mistake on the mint, but they did launch and it is a, you know, a series and put together that has, I think a lot of upside, a strong, a strong team and founder behind it.

[00:09:04] And with uh, with avatars, what I also like is that there's a sort of movie plans in the future, so it's not like, oh, and then there'll be a game I'm like, I'm kinda done. I'm done with the game. You're not going to create a game that's going to change value, but I do believe in the raw truth of the more attention you can get in the future uh, the, the better the outcome will be.

[00:09:26] And this is a 15,000 unique 3d art guitars. And it's uh, one of the series that have been put out there, help me with uh, the founder's name. I just blanked on it, but the floor price is 0.6. Yeah, Mike and Johnson.

[00:09:38] Thank you. Former baseball dropped from that, moved into artists, and that guy is just plain old motivating when you hear him.

[00:09:46] And right now, you know, the price at 0.65, I'll say my um, my reservation price on this I'll make a definite buy if this kinda kicks down to 0.5, but you know, it was as high as you know uh, you know, 2.7 from what I see. Um, But there's a lot of things losing speed. And some of them I think, are going to weather the storm.

[00:10:08] And I think this in particular for the depth of work amount of motivation and what I like on the roadmap uh, how has my eye, what do you have on your list of shopping?

[00:10:19] Andrew: I like that picked there. I have been watching that one as well, actually in tech, definitely

[00:10:23] George: What's your reservation price, where you, where are you falling? I'm going to do 1.01 ahead of you.

[00:10:28] Andrew: I was going to say, I was going to go, price is right on you. And,

[00:10:34] George: I'm just going to be watching your thread.

[00:10:37] Andrew: um, So yeah, let's see, I've got a couple of my lists. One is fuel world, which we've talked about in the past. I, that seems like one. That's not getting much attention, but it's one that I think is still worth looking at and looking. I um, I think I'm pretty close to. To pick it up another one there. Um, I think it's, it's a, it's a good longer term hold and.

[00:10:59] People are overlooking some of the uh, the rarity aspects there. And uh, I noticed that uh, he posted a few times a few emotions. uh, posted a few times from the econ recently um, doing some paint uh, paint parties there. And I think it's just going to be something that um, I don't know, people pick up on it and just gains more uh, Just just more fans over time.

[00:11:24] So I'm still looking at that one. There's some good prices. Look, you know, I think it come it's around a little under 0.3, five right now. And I think, you know, he might be able to get that a little bit lower. Um, If your patient there.

[00:11:36] George: Yeah, quick take on that. I a full disclosure. I have two of them. I did pick up. I did like that. It was on my list. Try to get an wait, wait on it. A pink count of two, not a pink count of one. I was looking at doodles and I have a two doodle, but the pink count actually is a big differentiator. And every now and then someone just makes a mistake and listing it and they kind of go for pretty low. So take a look in there. Yeah.

[00:12:02] Andrew: those took two minutes essentially. Um, On nifty, when you first admitted those, you had to, you got, if you committed to it, morphed into a, to paint um, NFT. So there maybe. You know, maybe people, a little tired of waiting or that maybe just didn't understand what they were buying initially and thought they were going to get to.

[00:12:24] So that's good too. A good note to look for.

[00:12:27] George: Yeah. Also uh, another quick hack on that is check the nifty sites so far. It hasn't proven true. The lower prices I've been continually on open. See, but check nifty cause. Confused buyers, especially if there's a sudden shift and impressive beef begins to go up. Um, That'll actually flip the odds Right. now when you dropping, right?

[00:12:47] Because nifty gateway is a Fiat first listing And open C is a first listing, which means when those prices fluctuate, where weird things happen.

[00:13:02] Andrew: Right. And what else do you have on your list, George?

[00:13:05] George: Oh, I'm just checking to see if any recent two painters went for something low to two painter to paint or went for 0.5. I can't turn it off. Two painter went for 0.59. That's interesting. All

[00:13:19] Andrew: I've got this next one on here that we've talked about another few times as well.

[00:13:24] George: Yeah. I, I feel like I have to say it cause it comes up. I won't, I won't let a good moon get die. Moon cats. Oh, gee ponder where created them. They've been around for quite some time. And, you know, they continue to iterate ponder where there was a recent pump of this. When I probably, I mean, I floated out there to try to flip it, but it's back down to the 0.3 east.

[00:13:50] And here's what I think in terms of this play, this team is going to continue to push on it. And even if they don't, it seems like it's, you know, a project pun intended has nine. Where there's a, I believe a future where a lot of this money coming in and they say, Hey, instead of creating a new project, let's pick up one with history and revive it and Potter where has already put it out into the universe that they're willing to sell it for the Right. price, which could drive a lot of attention and upside again, even just the conversation did.

[00:14:19] So uh, no one's paying attention to this right now. It's hovering at 0.3. If it drops below that that's my reservation to, to begin picking up. If it's in the mid twenties,

[00:14:31] Andrew: Right. Yeah. That's a moon cats. Um, You know,

[00:14:34] George: No, more moon cast for you.

[00:14:36] Andrew: No, I don't need more moon cats right now. I've got some older ones. Um, You know, I I'd love to see some uh, some more interest pickup there, but yeah, they, you know, it's one that a lot of people still talk about and a lot of people hold just don't pay much attention to.

[00:14:50] George: What's the hot take. What's the hot take on, on what the shop for, in terms of new, since you know,

[00:14:54] that thing is.

[00:14:57] Andrew: Um, Well, you've got, so the rare ones are considered the ones from 2017 um, especially, but 2018. So most of the foreign ones are going to be, or they're all going to be at the 2020 ones. You may want to look for cures. Um, There's a number of different shades to these, but peers tend to hold more value across all of the colors.

[00:15:17] Um, Otherwise I'd

[00:15:18] George: So that's the code color. So like red, pure, or

[00:15:21] Andrew: Yeah. So orange Tabby, I guess, would be the orange Tabby is generally the most expensive of any of the floor pieces. Um, Things that look like characters, things that look like Garfield or um, other famous cats tend to hold extra value. Um, You can also look for things that have twins.

[00:15:42] There are, there are collectors that are looking for the twins. You can get even one half of that, you know, you can sometimes end up finding that those have more value. Um, Yeah. You know, I'd also look at, look at the face of it. Um, There's some that don't have the clearest faces, the, and those don't tend to sort of don't tend to send, sell real fast.

[00:16:04] Um, It's just based on how the coloring is, you know, the different spots or stripes within the face, but a clear face is generally a preferred when people are buying those. So that's some of the, some of the traits that I know about these, I know more, more, but you know, you feel free to hop in the discord and ask me if you are a

[00:16:21] George: Getting that discord, get them talking about moon cats.

[00:16:23] He won't stop.

[00:16:27] Andrew: All right, I've got one other. And so this is one, this is a newer project, but it was one that I was going to even mention as an affordable project. And the price has been bouncing around a bit. Um, It's now up to about, up to 20. I'm sorry. Point two, four right now. Uh, What I was first going to mention it, it was at like 0.1, eight or so I have um, I have one of these, sorry.

[00:16:53] I have two of these, not it's actually in my alt wallet. So wouldn't have noticed this. Uh, But I, I staked one NFTE ex um, where. They were offering a good uh, sticking percentage for putting it there um, was able to pick it up, but a good price. And like I said, it's moved quickly here, so I'm not recommending necessarily jumping into it right away.

[00:17:18] I am going to adding link here so people can, can look at it. Um, Uh, Sorry. And so this is a collection of a thousand pieces. It is, I believe that it is. Hold on, let me, let me check that one. Um, It's by the artist pops. So there it's very realistic looking faces um, that it's just called regulars. It's kind of 3d ish faces.

[00:17:50] Yeah. The floor is at point just, just under 0.2, four as we speak. So I think that may come down again. So it's one that I'm kind of waiting to come down. I have noticed that there's a lot of people kind of picking up some of the rare traits. At higher prices also, you know, relatively quickly. So, you know, you may, you know, it's worth watching because people list um, you know, certainly don't realize what they're listing at times.

[00:18:14] Um, I don't know. It incredibly well. I've looked at uh, things like the type um, and then just various uh, Characteristics like the glasses or hair color to try to, to understand, you know, some of the rarities here, but you know, there's definitely some visual aspect to this. Um, When you're looking at these, I don't know much about the future plans.

[00:18:36] I don't know a ton about it. So, you know, don't have the whole in-depth part, but I, you know, got that the one in starting to look a little bit more at these. Um, And yeah, like I said, that price has run out, but. Does it makes me, it makes me want to jump in and realize that I shouldn't do that because I should wait for that pro that for, to fill back in.

[00:18:56] And, you know, I think we will see that a bit here. So it's one that I'm watching and looking for a good entry price for more, you know, as I said, I did do, I did get one.

[00:19:06] George: Yeah, this like it launched in 20 21, 11 21. So in November of 2021, and then sort of like, I mean, it drifted at 0.03 for quite some time. so that's like, those are the times to find these projects. That's what we're trying to do with some of the shopping here. I see. It's like beginning to taper off from that, that recent peak where it, and it got the 0.5 as a, as a floor for Ethan.

[00:19:32] It seems to be calming a little, but it's hard, hard to tell from the peak trough here. Interesting Sama. And I just added my watch list, but I got a lot of stuff here. I think um, I'm really hopeful that I can pick up a knock guitar. And affordable thing and I have to sell a thing to get that done. Really trying to be judicious about how much more money I'm pumping in cold. All right. Our theme. Um, Yeah, let's talk to an analytics, What are we talking about?

[00:20:04] Andrew: Yeah, so an analytics uh, I use this tool every day. It's a lot, like I use this for a lot of work, but I also use it to, you know, just to start analyzing things that I need more information on this. Lets you look at anything on the blockchain, any transactions that are happening on the Ethereum network on polygon on optimism.

[00:20:23] Uh, I think that. The electric, maybe a couple others as well, but you can use basic sequel queries to start looking up information on this and then present it to, you know, being able to visualize this in a very uh, you know, very easy um, graphs, charts, tables um, make something of this blockchain data, you know, it sounds, I don't know.

[00:20:48] I think in some ways it sounds more complicated than it is. Um, If you. SQL is a relatively um, relatively approachable programming language that a lot of people use for, for maintaining databases it's been around for, I don't know, 30 years or so. Um, So it's, it's a lot of documentation on it and it's relatively.

[00:21:10] Approachable to, to get going on this platform with, with not without a ton of knowledge of the coding language. So I think that's, that's really powerful because otherwise you're looking at, you know, trying to read blockchain data in a completely different way. It's, it's much more complicated. This makes it relatively easy to see um, what aspects are making up um, each transaction um, from there.

[00:21:38] I mean, you can take it to any number of uh, any number of degrees of how much you want to look into it, what you want to cross the, the data with, you know, look at various wallets specific activity. Um, You know, it's, it's really endless how much you can uh, start working or continue looking into transactions once you.

[00:21:58] George: What's really great. Here is also if you have a project and you're kind of wondering about it, it gives you another place to drop it in. You can do a search and see if anybody has built a custom dashboard for it. Uh, Built for various communities that have literally hired you to build out these custom dashboards.

[00:22:13] And then those dashboards are public. Most of the stuff on dune seems to be just open in the air because that's how they essentially have built it unless you're paying for like a premium membership to, to make it private. So there's a lot of quality stuff out there. And if you're. Looking to get into it.

[00:22:28] You can always, I feel like you can, am I write, copy these things as a template and then modify them and kind of learn from what the queries that are already in place are

[00:22:38] Andrew: Yeah, absolutely. I mean, you can fork any of these, you know, that these different term for it, because then that sounds so much better than copying someone's work, you know, or just forking that work a fork in these dashboards. And that is really one of the cool things. If you see that, you know, if you see that there's a great.

[00:22:53] Dashboard for neat bits or whatever. And you just want to do that same exact dashboard for um, you know, for act Qatar. Um, You can go, just get the contract address. You swap out the contract address and you're looking at the exact same information just for a different contract. Um, That's one of the things that I've done with my dashboards is try to make it so you can put any contract address rate in there so you can make these.

[00:23:18] Um, You can customize them to whatever the project is that you're using, but I can go for it. That goes for anything on the platform. And I mean, there's some really impressive dashboards, both for NFTs and for uh, Nate, just crypto work in general. I mean, any, any crypto project, it seems has a dashboard in there.

[00:23:36] Um, I know that there's looked at some, some uh, search query data and they definitely get people looking for. You know, for um, moon, moon cats dune on, you know, there are people searching for that kind of thing on Google. Um, There are people looking for doing specific dashboards when they go into Google, which I think is uh, it's interesting that, you know, it has that sort of name recognition already.

[00:24:03] Um, It has been around for awhile. It's a real. Relatively old the team in the crypto space, they launched, I think back in 2018, but I think they are a team of under 10 until this year. So it's been um, been around, but they have been able to do. a platform that um, I don't know that they can deal with all sorts of different parts of crypto.

[00:24:28] We've seen, you know, defy be extremely popular. We've seen obviously NFTs rise in popularity and it's been able to be used for, you know, for all of these different use cases, which I think says a lot about both the platform and the nature that we're all working on the same, Ethereum, blockchain, you know, granted, I said other other layers as well, or.

[00:24:48] But it's pretty cool that this data it's all there, we're working on the same thing. And no matter what the transaction is, we're using the same chain.

[00:24:57] George: I'd say the good parallel here is kind of like Google analytics and data studio in some ways, if you're in the marketing world and to that end, I think there's a huge upside. If you're trying to get a job in crypto, you're really trying to like actually refine a skill, like no offense to our super abilities here to pick out affordable projects and run a podcast.

[00:25:17] For a tangible, freaking skill. Like you have this course, we have linked to it directly in this episode, start there, start somewhere. But like, this is sort of raw skill. This doesn't have to do with coding. Cause frankly, Luke, look, we're not all going to suddenly switch our day jobs. You know, chain, chain on chain coders like that, you know, that's a different path, but certainly I think there's a lot more intelligence that could be built into a lot of projects.

[00:25:45] A lot of creators that do this, but there's a whole whole world. And like, you're one of the top creators on this platform and you know, not gonna, not going to give too much away, but you, you taught yourself this, like you went from zero to like, let's figure this out. You knew a bit about code in the past, but you've uh, you know, you've been able to March up the way.

[00:26:02] Andrew: Yeah. Yeah, I think you're right. That is, it's a very, I mean, it's a relatively easy way to get involved and start working a bit in the space. Um, As I didn't learn this a lot on my own, I knew a lot about SQL already, so that definitely helped. And it worked a lot with platforms like Google analytics. If you've used any of these things, then, you know, it's, there's a way in to learning this platform.

[00:26:26] Um, One of the, I mean, like I said, one of the cool things is that you can just build on top of what other people have done. But one of the things that I really liked is that there's a ton of bounty opportunities and these. Paid opportunities to, to do work. Um, In some cases it's, it's just paid to one person.

[00:26:43] In other cases, it may pay, be paid out to all the participants um, actually serve on a committee of, with the unit swap grants um, program. And this is part of unit swap and they've gotten a grant to uh, community grants. So we get the name exactly of it. Um, But the idea is that we're helping to uh, Provide a bounty or we're creating bounties to get people involved in the um, the unit swaps community um, by looking at these analytics in different ways.

[00:27:16] And usually that's usually we have one that is very low end, relatively easy, meant for beginners to get in. And everybody that enters that gets some kind of boundary, as long as they um, actually complete the task. And then we've got a higher end one. More competitive, but there's a much bigger, I think it's a thousand dollar bounty on that one where I think it's, you know, I think it's maybe a hundred dollars on the entry one, so that's still a relatively nice amount to be able to get to do.

[00:27:45] But um, the other part is once you start doing these and can build something. a ton of uh, there's a ton of people. There's a ton of demand out there. If w we're looking for more work in this, and I think that's just going to grow because it, most, most of these web three businesses aren't even paying attention to these analytics quite yet.

[00:28:05] It's, you know, there's not enough people working in the industry. And as we've said, there's more and more money being, you know, being invested in the space.

[00:28:14] George: The other cool thing that I like about doing is that you can embed. Natively into a website. They're really just sort of unpretentious about like, oh Yeah. sure. Take it, run with it, go do it. And you know, on three AFT you'll find a lot of those dashboards embedded on, you know, random in your site. You're going to find a lot of those dashboards as well, embedded.

[00:28:32] So you could spin up a full fledged, you know, analytics tool with uh, information about how to particularly use it pretty darn quickly. So here's, here's some home. During the downtime. When, you know, we are maybe not buying and flipping as fast as we, like, you could still sort of spend some of that cycle time.

[00:28:53] I feel like it's that night at night, time away from your day job uh, picking up the skill. I think it's, there's a lot of upside here and this would be the platform that I think is going, you know, we're going to make it like, that's the platform that's going to make it because of the way that they're built in a, in a sustainable way was real smart tech.

[00:29:14] Andrew: Yeah. Yeah. They're just being, so they're building a lot more to make it even more extensible. Adding API is just spending. I think it's great that they make it open, make it a bit of, you know, the source for, for web three data. And I think that.

[00:29:28] George: Actually question. I know Eve yes. Polygon. Yes. What about other layer ones? Do you have like, are they like washing them? Like what can I, what kind of build on here? Okay.

[00:29:40] Andrew: Yeah, I was actually going to look what they actually have right now. So they do have, I know that they are working on cross chain analytics. So right now they've got a theory. Um, Gnosis polygon, optimism, Binance, and then they are working on. Actually having cross chain analytics. So right now you'd have to run it, run these queries separately, but we'll be able to start running.

[00:30:06] Together so that you can much, it'll be much easier to see where uh, you know, how, how Ethereum, how it different transactions, health and things are tokens are flowing across um, various uh, various layers, you know, cause right now we've got this thing where you basically parking your Ethereum somewhere and then you're going and transacting on another layer.

[00:30:27] And. Sort of, it's sort of like putting a wall in the middle of this uh, of this visual of transaction. So you've got to look on the one side of what's happening on Ethereum. Then you park your Ethereum there, and then you're looking on the other side. So this will allow it to, well, at least two. I don't know, provide a more transparent view of what people are actually doing when they go to, from a theory of polygon or optimism or, you know, any of these other layers.

[00:30:52] And I think there probably will be more coming as

Buy low-ish sell high-ish | Project: Smart Sea Society

Buy lowish sell highish (shoulders and knees)

• • Buy low, sell high is the old adage but is nearly impossible
  • How to be ok selling for a gain before the absolute peak and buy before the absolute bottom

 

• Affordable project: https://www.smartseasociety.com/nft-tiers 
• drop link: https://magiceden.io/launchpad/smart_sea_society 

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Ethereum Merge Coming in August 'If Everything Goes to Plan': Core Dev - Decrypt 
    • Soulbound Tokens: What An SBT Is And Why You Should Know 
    • eBay launches its first collection of NFTs in partnership with web3 platform OneOf | TechCrunch 
• Rough transcript:"

[00:00:00] GEorge: Today all about affordable about the strategy of lowish and sell.

[00:00:45] Highish basically named for the shoulders and the knees when rather than peak and trough, Andrew, how's it going? What's in the news.

[00:00:57] Andrew: Going yeah. What are we seeing see, we've got, oh, it was this. to, uh, you know, people following Ethereum closely, uh, there's news, the merge, uh, is coming in August. That may mean nothing to you, but this will. Transition Eve from a proof of stake to proof of which will reduce, eats.

[00:01:21] Energy, uh, the energy consumed. What needs is the run for transactions? Um, there's a lot of other upgrades that, uh, are somewhat technical, but it is big news. It's been pushed back a few times. So if it really is coming in August, that is, uh, that's very good for Eve. Um, and is soon.

[00:01:42] GEorge: Yeah, I think there's also upside for layer twos. If I'm understanding some of the news that has been coming out about, how that's going to be making it more efficient to push in blocks and for, you know, things like polygon, optimism, layer, twos that live on top of. Live on top of them with Urime. So I'm very optimistic about it, but I'm trying to abide by my original many rules of don't get too excited.

[00:02:10] And don't, over-hype things coming in The future. Everyone's not going to come running east, not going to suddenly triple it'd be nice If it did. Lord knows because actually, you know, recently there was also a hiccup. Uh, Blockstack where they had to like roll

[00:02:23] back something like seven blocks and reorg some questions about, you know,

[00:02:26] as

[00:02:26] their instability. So be

[00:02:29] a still very long, you know, a or more to that launch,

[00:02:34] because guess what they're building in public, they build on the chain, they build in these public calls and

[00:02:39] people are going

[00:02:40] to be, you know, playing up and playing down all

[00:02:42] of the natural things that happen.

[00:02:45] When you try to launch this the macro picture makes me very happy that it's moving

[00:02:49] into a much more base and environmentally friendly. If just being raw about the amount of to maintain a Yeah, I think it also can help shift a lot of the narratives that are, um, are out there. So. I'm excited about that part as well. let's see some from, uh, one of the Ethereum valid founders, the most well-known the talent. Peter wrote a post on Seoul bound Lots of the idea of a soul bound token is that unlike an NFT, they would not be able to be transferred to another wallet. this would be, uh, the idea is that it could be used for something. And accreditation a degree or, um, that you earned personally, but somebody else would not be able to just take over. Um, so I think this is something that you'll be hearing more about. There's a lot of, uh, a lot of discussion about it.

[00:03:40] Andrew: There aren't projects or anything out yet, but I think it is like to, to just be aware of, and start learning about, because I'm sure we will start seeing more, uh, later in the year.

[00:03:51] GEorge: Yeah, there's a lot of ups, you know, there's a lot of upside to which you can see there. it's like oh, what if your wallet gets hacked? Well, again, there are, if it can't be transferred, then it's always associated with that address. So, you know, things would have to go very, very sideways for you to, like completely lose And even if You did it, imagine there's a You are a fingerprint is essentially on the NSC

[00:04:14] itself, your fingerprint being that Ethan address, or maybe even identifiable information, you know, there's a lot of different applications that are associated with that. and might, you know, make things like accreditation And things that are inherently you as identity,

[00:04:28] uh, be married to certain types of logs that you choose to use. it's not, a headline, but then becomes like, holy cow, could you

[00:04:37] believe that like this new technology came do these 60 other

[00:04:41] things

[00:04:42] and you know, it's kind of, to, to understand that the second order of X, but I tend to, listen when, uh, when Vitalic because

[00:04:50] smart. Yeah, I little while for it to uh, to get around because he does lot of words to say it and who it's not, it's not the easiest to read the first time through, so it's good to have other people talking to them about it. And I think we'll start to see people start acting on this a bit more. news of note was the eBay launched an NFT uh, in partnership with, uh, waiting with Wayne Gretzky. So I think, yeah, I don't think this is much of an NFT to, to pay attention to. I think it's a bit more of, um, uh, companies trying to gain some relevance, gain some, some news headlines, uh, Making their way into NFTs.

[00:05:36] Andrew: I'm definitely not recommending recommending to mint this unless you happen to be an Wayne Gretzky fan, but, um, just, just, uh, be aware of when companies are getting have, uh, many other ties.

[00:05:49] GEorge: Whatever you miss a

[00:05:50] hundred per shots you don't take. I got to go mint one. I'm going to go

[00:05:53] Andrew: Good. One good one.

[00:05:56] GEorge: I had to, you know, I had to, looking

[00:05:59] Andrew: All right. So we are getting back to, oh, I'm sorry to get someone else.

[00:06:02] GEorge: yeah, just really quick. I to like the overall market, because it was pretty aggressively the other week it's going down.

[00:06:10] but not as much it's

[00:06:12] Andrew: The pace is slowing down.

[00:06:14] GEorge: We're bleeding less How about that? The, the rate of death? Uh, no, the overall NFT market, 16% down looking at a trail in. seven days. Uh, Solana less than a lot of other platforms stop platforms, uh, as opposed to overall and, uh, shout out to our last week, watch the segway last week where we do. a Solano base. Cause we're trying to not be all food all the time. Uh, Solano base our first choice of cardboard citizens. Uh, even though we couldn't mint it because of how fast and awesome the Salada network is uh, it meant it at 1.5 And it's currently sitting at five, five, uh, salon, so five soul. So that would have been a good, nice flip for anyone who listened and executed.

[00:07:04] Good, good job to you. If you were able to get in. Uh, or even pick up something off of four before this one went up but it is in the top 20 and certainly in the top number of so lot of NFTs going and play. So keeping on with, uh, the hot hand that I feel like I have based on absolutely no data, minimal research, obviously this is not financial advice.

[00:07:28] I'm looking at smart C society, smart S E a society. And this is on magic Eden, and this is going to drop because I'm trying to find things that are upcoming on the launchpad, because I think there is a market that is more and more sniping. These types of. Newly minted and launchpad. I think magic bean does a good job curating and building up and just they're there doxing things and checking it.

[00:07:55] Uh, and they have an escrow in place. So like there's some validation that they're doing. And with this one, I see some utility, the actual art of these silly card, photo, realistic fish with different hats and whatnot on them. I think they're angler. And this be both a community, but also a tool, driven and Ft platform analysis and predictions built into it.

[00:08:21] And it's going to be, I think, a salon of focus thing. So this is, I'm kind of going back on exactly

[00:08:26] what I where, oh, be careful when you get all your money up front, how do you make money going down there? That's a question, certainly, but in terms of utility, it's got a heck of a lot more potential utility than let's off of a board aid that I'm watching.

[00:08:39] Just sort of go on Solana. And I have no reason

[00:08:42] why, other than it's mean, this seems

[00:08:44] like a roadmap with things that are

[00:08:47] completed, um, including, discord and other analytic tools in place. So, uh, Andrew, what are

[00:08:54] you seeing here? at this on magic Eden. You know, I do like, that. They say that the team is doxed. As we mentioned, that is privately doxed. Um, they see funds go to a third party escrow interval list. In one day. I do like, there is some utility here, but it looks like it actually, it's not it's not a pass or a ticket type of, uh, NFT we've seen a lot of other, kind of utility based these are actually. Let's see, is there fish, I guess, of a sort with all sorts of different, characteristics to them. So I do like the visual image to them. I think that helps bring collectors in, um, that don't necessarily look at it Um, it helps people maybe try to trade up for better you know, it depends how it's done, but I think that's generally, uh, generally adds more value in the interest to a project. um, and I, if they can really do all these things that are saying they can do, I think that. Really cool tool to check out and, um, yeah, I'm definitely worth or think it's worth giving it a shot at this, um, 1.9. Uh, so mid price.

[00:10:03] And again, I've found that on launchpad, that's going to drop, it, says five 20. So on 5 28, that's when it's gonna drop. And you know, you can, depending on you're listening to it, go onto magic Eden. I'll say that I have liked, I've really liked magic. I think it's a superior platform and many ways in terms of the analytics at open.

[00:10:26] See, um, it shows you like really good price, distributions and activities. And I you know, it's, it's a, it's a platform and the more I've

[00:10:36] gotten comfortable with it, the better I feel like I can, you know, at least make bad decisions faster and more informed.

[00:10:44] Andrew: More informed or at least they're more informed, but no more informed about where, uh, where it's going.

[00:10:51] GEorge: Yeah. Gosh only knows. And I will say I'm just, I'm still floored by how you know, You know, whatever five, but you know, the trip in ape tribe, which is, I want to be clear, pure and utter knockoff don't pass go, don't collect $200 of like, Nutanix, you couldn't, you couldn't even try less to do This and somehow, you know, its I want to be very, Those types of things have got very, very short shelf life. So when I'm looking in here, how has involved? Because if a project like this can take off and larger projects are going to be able to take off out of the salon and network. That means if someone is actually doing something artistically unique utility value, there is actually a decent chance that it.

[00:11:45] Attract the type of people that are like, oh, wait a minute. This thing is actually a good thing, because I think there's a whole separate ecosystem that are like people that are so lonely and you know, more and more big things I think will come out of Solano, whether or not we can hit them with a dart. I don't know.

[00:12:02] Anyway, there's your heartache. Remember not financial advice. I'm talking about fish. They give you access to analytics.

[00:12:11] Andrew: wrong with.

[00:12:12] GEorge: And with that. Alrighty, bye. Lower sell high-ish. So you've heard this adage of in the market of equities buy low and sell high, my son. And you will, you will do just I can't tell you impossible it is. And, and you can actually look on the blockchain and it's hilarious

[00:12:30] to be like, there's exactly like zero people that perfectly

[00:12:33] hit a high and a low, and I see something I want, it's like one out of a hundred

[00:12:36] thousand.

[00:12:36] Get it right. Okay. What that really

[00:12:38] means is we have to emotionally

[00:12:41] and psychologically be fine with hitting the needs. So the price somewhere toward where it's going to be belling somewhere in that bottom 10 to 20%, and then somewhere toward the peak. I mean, recently both, you know, you and I, Andrew were like, we sold before the peak of a

[00:12:58] certain project and we were, you know, oh, well still made something, but.

[00:13:08] Andrew: Yeah, I think it's, I think that's important to think about because a lot of the time you'll see, you'll see people wait too long to sell

[00:13:14] and you know, the idea is, well, ah, should've sold

[00:13:16] when, you know, when it was at two and now it's back at 1.8. Yeah. But I think like the next time it gets to two that's

[00:13:23] when I'll sell and you know, and then it gets to

[00:13:25] one point. You know, it, it gets to

[00:13:27] 1.9 or something, but it doesn't get to that too. And you know, all, I think it's

[00:13:31] going to keep the learner, maybe getting it gets to you. You're like, no, no, no,

[00:13:33] It's going to keep building this time. you've even realized you you've come to the realization that maybe there's no there's new, new catalyst coming.

[00:13:40] That the, the news that already had already broken. And it seems like the market, you know, took it, took it fine, but maybe it wasn't as excited as, as you had hoped. And you keep hoping that it's gonna, that the next thing is going to come and. You know, I don't like to be in that position of just coping. I like to look, be able to look towards something and say, you know, I think that there's a reason that this is going to, to hold value or that, that, that value will be added And, you know, it's something that I try to keep in mind and, you know, certainly not saying that I am always able to sell it the right time, but I think you've got to realize. At times you got to look at, not getting back to You're probably not going to be the one to sell it at the exact tie.

[00:14:22] And that if, if there's, you know, if it's volume and sales are waiting and there isn't something coming that maybe, you know, maybe it's worth selling at a, you know, not at the all time high, but still at a price that. It's going to give you a profit and that you can leave knowing that, you know, you did pretty well on it, even if it wasn't the absolute maximum that could have been away.

[00:14:48] GEorge: Yeah, I think I've made the mistake of holding

[00:14:49] too long

[00:14:51] rather than, you know, selling too soon, more often and more damaging, I'd say, uh, over, you know,

[00:15:00] Andrew: Yeah, I think that's selling too soon.

[00:15:03] I don't know. I mean, there's definitely times where if I

[00:15:04] sold too soon and I think

[00:15:07] it's because when I think of too soon, it's because I sold too soon, almost in relation to the, the event that, that I thought was going to drive the price up a bit. Um, and I think if you do something, think something in going to add value.

[00:15:21] Let that play out before. Before selling, um, let it play out a bit, but also realize that you can sell on the way up and that yes, there could be a higher price, but you've also got the sale when there's attention and volume on the project, because we know that volume can drive really quickly. And that piece there's nothing changed.

[00:15:41] Even the perception of the project or the artist, maybe hasn't changed, but people have just they don't want to buy anything. Oh,

[00:15:50] GEorge: Again, things sit on the shelf for 2, 3, 4 days. and you're being like, well, what happened? I thought the price was there. a floor price is there, but you also need the. absolutely.

[00:16:01] So I'd say, you know how to be okay. Selling for a gain. I've heard the tactic of sort of when you buy a thing being all right, here's my threshold. I am fine with a three X or a five X on something. And if that happens, we're talking about affordable projects, so, you know, to be clear, you know, if you're getting in for like 0.1, like, let's just be honest.

[00:16:20] If I think starts to go around 0.5, I'm going to get curious about selling. and you know, that's still booking, booking that uh, booking that when and you know, what comes up, comes back down. So you can always get back in. Usually when it comes on, comes on the backside, you know, what I was mentioning right.

[00:16:39] I, um, I think I picked it where the current floor is, but I also got that drop. And so, you know, you're, you're saying like I get, there's a natural life cycle to these things and, and, and paying attention to where you where you are on that. But volume is a good indicator. Uh, what's going on and you, you want to ride that at any point because of the way that whales can kind of move into two different projects. And suddenly, you know, you had this floor price that was like pretty far above your price is pretty far above the floor. And all of a sudden

[00:17:09] it's right there. Understanding what that

[00:17:14] looks like and where you are

[00:17:15] at those four distributions, those different plateaus. So are you between the plateaus or are you at plateau is another thing to consider when you

[00:17:23] begin to sort of throw out the rod, cast it out there and wait for it.

[00:17:27] Wait for a bite. Emotionally prepared. That's what I'd say. Be emotionally prepared. And one of the things I really do is I

[00:17:43] stop looking at the fricking thing afterwards. That's my real trick. Just stop putting in the price. If you sold it, you done just don't do it.

[00:17:52] Andrew: Yeah. You know, I think one thing to keep in mind and I said

[00:17:54] this, I can't remember now, if I said this in this episode, I've said it in the past, when you're, when you want to watch some of these really closely, um, you know, there's times where I buy and I'm ready to hold that for a long term. You know, if it's, if I'm buying an artist piece that, you know, I, I really am not looking for a quick flip and there's other times where I, think you know, there is some momentum here and. that it can, you know, there's, potential for this to write up, you know, and sometime, You know, and I, I kinda know that this is one that isn't one that I necessarily think, or in confident will be there, you know, in a year that I didn't want to hold for six months. And, you know, in those situations, I, see it move really quickly.

[00:18:33] I think that there's it's probably a decent time to look for a sale, have, if you did. You know, by two of them, um, definitely nice to be able to, to sell, um, at that point and realize that there's other people that hold are going to see that that price came up quickly and think, well, you know, maybe that and, and sell their piece.

[00:18:55] And then it, you know, it does bring new listeners. You've when the fuller a floor price moves significantly. So if you are watching be potential to, you know, to maybe move in there before, uh, some other people too, and you know, take some profit and knowing

• •  

How are proceeds from NFT sales used? | Project: Across the Face Osinachi

 How are proceeds from NFT sales used?

• Most project creators take a large percentage for themselves
• NounsDAO pools funds together from sales for community directives

 

• Affordable project: Across the Face by Osinachi

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • OpenSea launches Seaport ​​marketplace protocol allowing NFT bartering
    • A Hacker Took Over NFT Artist Beeple's Twitter And Followers May Have Lost Hundreds of Thousands of Dollars 
    • Andreessen Horowitz Announces New $4.5 Billion Crypto Fund - Decrypt
    • Adam Neumann's blockchain-based redemption story now sponsored by a16z | TechCrunch 

 Rough Transcript:

[00:00:00] George: Today on all affordable

[00:00:41] NFTs. How

[00:00:43] are the proceeds from NFT sales actually used money goes in.

[00:00:49] Where does money go? We'll dive into Andrew, seeing some NFL?

[00:00:55] Andrew: Yeah, I do have a kind of thing. News from See, I guess a couple of big things. one thing, they just changed the look of the site around quite a bit. So if you haven't been on there recently should go check that out. A few new things. Definitely looks a little bit different, looks a little lot more social on the um, on the, uh, profile page. But other big news was they released their sea port protocol. Um, couple of things. Parts of this one. it's going to allow people to trade NFTs rather for ease. You'll be able to say that maybe you want to trade a uh, Uh, I don't know, gold ape or something, and say that you'll, that you'll take specific, uh, Zuki pieces and that's one to bring up.

[00:01:42] Now, try to go some high end.

[00:01:43] ones, you know, is what I was trying to say there. without going into the projects where we actually talk about them. But anyway, you'll be able to trade them for specific traits. The other part is that this protocol will allow other people to use kind of the back has already built to run their own third-party marketplaces. Um, so this is, I think it's actually pretty big news here, uh, will allow a lot of people to, um, uh, sort of, you know, give it a shot of making their own allowing that. But I think in the end, that competition will make, you know, as we've talked about having more marketplaces pushes these forward and I think, uh, improves the product in the end.

[00:02:21] So I'm excited to see what actually. It happens with the trading of NFPS. I know there have been out there. There's also been involving those are involved, but there's a lot of people that use those sites and, uh, in not great wage, which has made them a little hard for me to want to get into.

[00:02:39] But I would be interested in trying out trades on the open seat platform. or on a trusted marketplace was using their Yeah, the open-source part gets me excited because it's additional functionality that.

[00:02:54] George: could be brought to bear, I think, and even specific projects. and I've seen this probably

[00:02:59] most popularly in me, bits where me bits actually had the ability to

[00:03:04] post and trade and

[00:03:05] interact, um, the uh, the actual uh, from a back and forth.

[00:03:10] But this is across project, but also

[00:03:12] Andrew: Yeah. Yeah. We'll see what happens here. I think it's, it's, it's cool to see that that's coming from open. See, because it hasn't always been thought of as the most open platform. Um, but They are definitely, uh, opening up, uh, their backend here. And I'm excited Oh, I'm just excited to get farther and farther

[00:03:29] George: away from anything resembling money and more of a horse based anything that brings us towards that is

[00:03:35] Andrew: That's right. Trade your

[00:03:36] George: horse. Sorry, digital horse based economy.

[00:03:39] Andrew: Right. and of course we'll that, that will be the, the peg in the long run, right? Um, boy, my breath though.

[00:03:47] Yeah.

[00:03:50] All right, we've got some other news here. We've got uh, big Crip, or sorry, big a VC firm. They have launched any new $4.5 billion crypto fund that is billion with a B that is huge money. Um, you know, it's not necessarily a NFTE specific, but I am sure that some of this will flow towards NFTs.

[00:04:11] Um, so I think it's, it's, it's, I mean, it's an absolutely huge number and good know. Remind people that there is a lot going into to crypto, even when the prices may be aren't going up. Uh, just keep that in mind.

[00:04:26] George: I think things like this speak to total addressable market and be built right. That will get the next a hundred million people onto the platform because you're not getting that amount of money, unless you can answer the fundamental question of who is the total addressable market and how do you get them there. And I think there's going to be a lot of innovation brought to smarter UX and Wallace onboarding Fiat beyond just like send it to Coinbase and then send it around. and I think it's a, you know, a very positive sign. that you know, time spent right now on crypto and collecting NFTs right now is like, I'll just be honest. like, it's tough to watch number, go down every single day. It is a different place to see that, like, Hey, there's a huge increase coming in terms of building an investment, If we were seeing, if we were seeing right now diminishing amounts of money being be spent, guess this was just like that hype cycle that. that was one and done. I think what you're seeing is the builders and

[00:05:34] VCs realize that this is just the beginning of

[00:05:37] something. This is new tech yet to be applied rather than like, wasn't it weird when we all lost our minds in 2021 around NFTs? Yeah. Back to normal,

[00:05:49] the amount of investment just in Q1, you know, dwarfs any other previous.

[00:05:53] Uh, I mean, obviously Andreessen Horowitz pulling in Billy's is a weighed into that, but the amount of investment, the amount of dry

[00:06:02] powder being put behind a new

[00:06:04] projects that are rebuilt, uh, is significant.

[00:06:07] Um, it'll be interesting to sort of play off of our, where, then move into the market?

[00:06:14] Andrew: Yeah. Well, we do know, where at least some of a 16 Z has moved some of their money. Recently, they led a round or at least participated in around, uh, Adam Newman of rework new. Uh, chain flow, carbon and 70 million going into to see. So those two stories, both coming up this week.

[00:06:34] Doesn't always, uh, doesn't make me super confident that, uh, we're one of these. I mean, sounds like, sounds like an, another layer one that's being run by Adam Newman. And, um, I don't know, I have a lot of questions. We've had a lot of Romans with alt layer ones as it is, and it doesn't exactly have a lot of, or give people a lot of confidence.

[00:06:59] So we'll see where this goes. And I really hope that most of this 4.5 towards, uh, things that are a little bit more, um, uh, well tested in marketplace then than these new L ones.

[00:07:11] George: So you're saying that flow carbons And GNT that token it's on

[00:07:15] its way. It's not a, it's not like on an

[00:07:18] Ethereum level. So, yikes one, however, just to say, I is looking to create carbon offset accreditation and tracking for it. I mean, you know, clean, the Dow has already done, I think, an amazing amount of work and sort of that sphere.

[00:07:40] And, you know, they've had the successes that they've had. I will say to Adam Newman's credit, uh, that gentlemen can sell people on things, uh, quite well. And one thing I know you need to

[00:07:52] sell folks.

[00:07:54] Andrew: Yeah. Yeah, absolutely. So, this works out well and you know, it is what it uh, benefiting, benefiting our, uh, ecosystem as a whole, I guess.

[00:08:08] George: Also, I will say

[00:08:10] in terms of like, there are many risks

[00:08:11] associated here, I'm actually oddly if the person's fairly wealthy and not likely to like a bunch of money out, you already did that with the last company he's done. Hopefully you won't get money out. Right. Cause history never repeats itself.

[00:08:24] He's got enough dollars. So this can be like, you

[00:08:30] Andrew: Maybe we should start looking at the new lunette shame. heard new loon is going to be so much better than last. The is for losers.

[00:08:39] I think I'll stay away from that one. But I think this is interesting. There's some, you know, they're not the only name. There are some other big names on the list investors here. So it's one to keep an eye on anyway.

[00:08:53] George: Yeah. Okay. A hacker tool hacker.

[00:08:58] NFT artists, people's Twitter.

[00:09:00] And you know, when people lost hundreds of thousands of dollars as to problem of crypto Twitter, and having

[00:09:06] all of your wallets,

[00:09:08] connected to the ability for attackers to after Twitter, um, they reportedly may have lost these investors, uh, $438,000 worth of cryptocurrencies. I mean, that's

[00:09:20] Andrew: I mean, it's a relatively small one compared to all the other scams and hacks that we are at many of the other ones that we've talked about. But, uh, you know, just another one to another way or thinking to are I guess, you know, don't always even trust the links from, from the accounts that you do follow the authenticated accounts because you know, those can get hacked too.

[00:09:40] And if it seems too good to be out of the blue or whatever, you know, Give it a second and slow down. Yeah, I think, you know, if you listen to

[00:09:51] George: any of our stuff, it's, you know, trust, but

[00:09:53] verify all these,

[00:09:54] things. and I, I, I genuinely

[00:09:57] think it's project owners to do a little bit of what

[00:10:02] I said of white hat hacking and

[00:10:05] trying to trick your own audience, just to

[00:10:06] steal them against potential. And it doesn't make sense, don't do it because anything can we're talking about a lot of money now when certain projects get up there, but again, the onus is on the owner.

[00:10:22] Andrew: All right. Well, why don't we move on to our affordable project? I actually have one for us this week that, uh, mentioned in the discord. there, you seen that. I mentioned I was minting this minted, a few of these, and this is a collection called across the face. by.

[00:10:38] Uh, Nigerian NACI is an artist that I've been familiar with for a little over a year. Now I hold of his, but I was excited to see this collection come out. It's uh, on the async platform, which we've past. Um, this new async blueprints platform Uh, a bit of it's a degenerative art platform, it's not quite, it's not generative in the sense of gender of code building these pieces.

[00:11:03] It's all pieces exist. Then they've run different variations come out. Um, so. They're all of them. It's a bit of a self portrait, I guess, of him in various stages with gait across the face. Um, there's a reference to a object actually on the face of each of the characters in the set.

[00:11:24] Uh, it was a thousand pieces. and it did 4.1. Each floor is right? Um, I I really like this set. I like how it looks. It's very much, uh, very much in of these other I've seen. Um, and, I think it is, I think it's a great way to get new collectors involved in some work.

[00:11:43] Um, as we've seen with some of these other blueprints, um, from Colby and the X coffee ones are now, certainly in, uh, those went up quite. Immediately, but even the Colby ones now I think are up over one E that piece. Um, and So I think this is a good one. If it's, uh, if, uh, you know, for a long-term hold, um, I think there's a good chance that it was a Nazi is still relatively, um, Uh, not well-known in the space and, and that a lot of people will come to know him.

[00:12:14] He's been working, um, with blockchain art for a considerable amount of time now, I mean, over, you know, at least compared to most others over three years. Um, so I think that bodes very well for how he will age in time. people come to appreciate, uh, blockchain art specifically.

[00:12:31] George: I like this too. it's a thousand items as you. And 334 owners. I like that sort of small batch art a rather than PFP, like here are like 10,000, because generated as many as you want it, but this is a very focused, smaller batch. And definitely says something I say as a, as a collection and the great time to sort of say, all right, You know, who is an artist is going to continue to build over time. And Uh, you know, as you mentioned, The art, the art is unique. it's not a derivative and it is in his style. I'll also say, cause I've been, you know, I've been in picking up individual artists in this way that I like the collection. It seems like the collection also carries cache because if it's like uh, buried in so rare somewhere in unique, obviously the artists but I'll just be honest. you need that secondary to be able to find it. And if you

[00:13:31] can't find it, you're not going as many

[00:13:33] competitive bids. The pieces

[00:13:35] are just not going to move. So I like that this is a collaboration between the, the,

[00:13:40] async blueprints and super rare in this case.

[00:13:44] Super rare, so that it's potentially a larger

[00:13:47] audience of this will be found in the future rather for esoteric people who know

[00:13:52] how to like perfectly search that said, don't you think there's going to

[00:13:55] be much smarter art platforms that, like Kool-Aid around artists rather

[00:14:00] than just collections. Yeah, I can definitely see, you know, more artists specific. They, you know, maybe that's something even see spin up out of, You know, some sort of, uh, Open seat marketplace for specific artists pieces are collected in there or, you know, in a small number. I mean, I could see that being somewhat of a gallery style where you could select people to be in or select even different collections to be in a specific marketplace.

[00:14:27] Andrew: Um, no, I do like that this, this is on super rare and async, and. It's interesting that You know, I don't, I'm not sure what the super rare part is actually adding to it at this point. You know, you have the knitting sink. Um, now the, the trading is primarily on open sea and super rare. Um, you know, you can view them on there.

[00:14:50] So I'm curious to see where superhero. Goes with how they're expanding, trying to expand their platform. you know, at this point it. doesn't seem like there's much there other than you can view them on that platform. I, guess you tend to sell them, I believe, buy and sell them there, but it's not, it's certainly not where most of the trading's happening.

[00:15:08] I haven't checked if there's there. has been any at this point. Um, I think that there's A potential for these to be used to build. You know, to build new pieces too. You know, we've with the with his blueprints piece, um, or he's doing that where You can put multiple pieces together to build a new one or build special additions.

[00:15:27] So, um, it's, it's within the blueprint system. And I would, you know, I would like to see something like that maybe if, you know, come out of this at some point or I'd be interested to see it. I you know, I also love that the pieces as they are, but I could see that potentially being something that is in play down the road.

[00:15:43] George: Yeah, full

[00:15:44] disclosure. I uh, picked up one as well. As soon as I

[00:15:46] saw that you, dropped that in the discard. And I was like, well, that's good enough for me. I'm going in? And

[00:15:52] Andrew: Yeah. There's a lot of, lot of good collectors in there. A lot of other artists, uh, they're now Armin, I noticed, uh, um, Brian Brinkman, some other artists that.

[00:16:02] have been around the space for a long time. You know, I think that it was the NACI has a lot of respect from, from well-known artists in the space. Ransom bits is in here. I see recently purchased a couple hours ago.

[00:16:14] Yeah, I have, I picked up a couple on of drive. I like the idea of putting a few of these together and making a collection and I want to get one in each of the objects on the face. So yeah, I am, I'm a holder and

[00:16:26] George: Oh, so you, so there's different objects in the trying to pull that, together. Do you think that's going to be worth something or you just like, from an art standpoint,

[00:16:32] it's just school.

[00:16:33] Andrew: I think it will look cool together. You know, I think. there is potential that maybe There's something like that having a full set of each of the objects will at least look cool and trying to put some variation in what the objects are and what they're wearing. you know, there's different things that.

[00:16:47] Yeah, different hats. There's different, um, clothing. So there's a shirt and tie. There's a basketball Jersey. There's, you know, I dunno there's even more, um, more ways. There's four different backgrounds. I don't know if the yellow is pieces in the past that I've seen.

[00:17:03] Um, but I think that, I don't know the backgrounds even add a lot to this there's I think. There's a lot of ways that people could end up putting collections together. And I think it would be, it'd be cool if there were a way to, to, to put these together in a way that, you know, builds a new piece or something, or take something out of this.

[00:17:23] But, you know, I have no idea, something like that will ever happen.

[00:17:26] George: So you're just planning, playing an app, but you're going and you go? along. I know you've been keeping the powder dry, So thank you for bringing this to us as a really interesting one. Okay.

[00:17:37] Andrew: right. Well, why don't we move on to our theme?

[00:17:41] George: So I think this is in particular to PFP projects larger 10,000 pieces that are put together

[00:17:48] by, you know, a

[00:17:50] developer group and agency. What have

[00:17:52] you proceeds or a Dow certainly. Now

[00:17:56] look, money is made. Where does that freaking money

[00:17:59] go? Like hard and fast. It goes to a wallet. So whoever has the keys to those wallet

[00:18:05] has that

[00:18:05] money.

[00:18:06] So technically you could just run away with.

[00:18:10] So, how do you start

[00:18:12] from there is like where, where does the money go and how can you tell where the

[00:18:15] money might go?

[00:18:18] Andrew: Yeah, I think. this is a good question because I mean, we've got a lot of projects that talk about building a community and they raise a of funds and it's not always apparent. How much, or, You know, at all, will be spent to build that community. And we've certainly seen a lot of rogue projects where, you know, someone really just takes, it, takes The, ease, shuts it down.

[00:18:37] We've also seen a lot where it's completely normal And open that the creators are taking a large percentage of the mint proceeded. Right away for themselves as if that's, you know, the the payment. And, you know, it's a concern that we've talked about here before, when you're getting paid a lot upfront, it really disincentivizes you to continue working and to build towards something bigger, you know?

[00:19:03] And I think Uh, you know, we've seen something different in a project that George brought recently in the little nouns. Um, the, now this is? a project put out by nouns Dow, and both announced out with day, but that's all pooled into a joint, uh, joint account where all this ease is pulled up.

[00:19:23] And then the doubt owners, any of the NFT owners can decide how to use that. Uh, one of the projects they spun up recently, he is this little announce, the Middleton hounds Dow, little now project that is meeting one every 15 minutes. And now they're raising funds from this. Now this is also going into a pool.

[00:19:39] So this is really interesting. I think in that, you know, where this is going, it's more of buying into a collective, um, collective that.

[00:19:47] gets to decide then how to use these funds. Do we know where it is? You can see it. And everybody gets a say in how those are you.

[00:19:57] George: That's totally true. And that, that problem of taking that lump sum up front, and like, what incentivizes you as that continued percent of sales. Right? So that's the other side of like, where does it youth go So you have these two, you have one big moment of mint And ideally human doubt and all of those proceeds kind of roll into the bank. And then how does the, the transactions daily so you can get, I think it's max, what can you take up to 10% is what is the maximum limit on. What you can designate open, see, to give you as a percentage of a cut of any future transaction, or is it higher than that? Somewhere in there.

[00:20:35] Andrew: I'm not sure, actually, it's probably around that.

[00:20:38] George: So you have those two moments, uh, money up front, which is like, you know, that's, that's the big nut. And then ongoing, I see it more common saying, and then every future sale, half of it will go to charity or half of it will go to that or we'll do these other things. And that. presupposes that people are that they're going to be transactions, right?

[00:20:56] Cause if there's no transactions, There's, there's no money in the door. And I think that has been one of the issues that we have seen with the long-term value of access, tokens, tokens that give access to analytics platforms you have a development team, developing things. and they're, you know, they have an update next week in one month and in two months, but the big amount of that came in was.

[00:21:21] When people initially bought that. So there's this problem of you know, follow the, money on how that will sustain into a developer over time. If those are not changing hands, because people are just using the tool. There's, there's a question mark there. I see This comes back to also just frankly trust.

[00:21:40] And what you're doing is saying does this person plan to be with the project or even if they do, and maybe they don't. And they're like, look, it's very clear. Uh, it was a Nazi it's like taking this money and like, you get art, I have money. Future utility is on you. it's right there.

[00:21:56] It's right there in the in the logic. Um, but I think for a lot. of PFP projects, And the, I get a little suspicious. I get a little nervous when I see large percentages being tagged into future transactions without like, the utility. Like, if you're going to say, all right, you have open seat, 2.5% of the cup.

[00:22:17] If you're gonna be taking 10%, the big question is how has that money that you get going to increase the utility marketability secondary value. Of the project or is it just going to line your pockets in perpetuity? That's a trigger to me and be like, this is, this is a cash grab and maybe it's done under the veil of all.

[00:22:40] I don't want people to be Transferring around, so I'm setting it high to make sure it doesn't move a lot. And you're like, Hmm. I, uh, I'm, I'm concerned when that, sort of thing happens. Also. Funny thing about that percentage is that even though it's

[00:22:53] like, quote unquote written to the contract, it doesn't. It's more of a guideline than a rule, like platforms don't have to follow that

[00:23:02] percentage allocation. Actually, even though it's in the

[00:23:04] contract open, see is honorable. That's used to do it, but there are

[00:23:07] platforms that you can go to that don't honor the creator

[00:23:12] fee. I think it's called in contract. they just don't write it into the, the signing of that contract from that piece. Transferring another question for me that comes with.

[00:23:22] What happens if I trade that board aid for some, you know, other, other ape or

[00:23:28] other things, how does that, how does that happen in my paying it fee? Am I not?

[00:23:34] Andrew: Yeah, that's a good question. You know, I think that there's, that's something that's going to come up obviously as this, uh, new trading I think as A trading platform comes to be, you know, we'll have to have that, that do you, I dunno how to creators get paid, you know, but I think in general, maybe we're seeing sort of a shift in how people want to.

[00:23:53] Uh, what the east to be or where they want it to go. When it goes into a wallet that is controlled by, you know, people from the community, you know, I assume it's a multisignature wallet. I haven't looked, um, particularly much into the mound stout model, but I think people there's been a lot of tension on announced out for a reason recently.

[00:24:14] Um, and I part of it is that that little nouns, uh, project meeting, but people also coming to a realization that, um, you know, maybe that. A, uh, a model that some other projects should be I'll say it's really been fun inside of the little nouns, like part of that they're trying to figure out how to spend the money. and there's like, I dunno, like 30, 40 eats we're talking about and they continue, to to generate because as an ongoing basis, every 10th now, Goes to the Dow And every like 11th goes to the nouns proper now, and there's talks about like, oh, maybe we should buy a noun.

[00:24:48] George: So we get like rights. Maybe we should do marketing. Maybe we should do more, uh, donations to charity. Like there are actual considerations of how you guide these funds and it is a you know, it's doing well right now. Um, And you know, might be hopefully not my pick of the year, but it is. was a good pick.

[00:25:11] Uh,

[00:25:11] Andrew: Yeah. I noticed

[00:25:12] George: also have though, related to this like how the proceeds are used and sort of once the proceeds are done, that initial sale is done. It's on the the interest in passion And reputation of the creators to continue, right. That there has to be extra energy. uh, you know, shout out to since you brought us that one, that was, that was a very good one. And they had this amazing Twitter thread where they just talk about how they launched in July of 2021, some fanfare, they just had general PFP And they just, it was collapsing. They just, utility. They're trying to be comics. and they're like, look, we're financial folks Like we know markets like. it And instead of watching yet a new thing, they brought this thing sheer will and reputation, and started churning out actual daily posts that are, very helpful and interesting hot takes on the

[00:26:05] market. And also now just delivered, uh, the, the

[00:26:09] wreck, uh, the Rex guy

[00:26:10] drop.

[00:26:11] And so, you know, that's an example of like, they weren't getting paid at And so you have to think about that. I think with, you know, how these

[00:26:17] proceeds are you There is extrinsic intrinsic here.

[00:26:20] And once the dollars, sorry, sorry. Dirty Fiat. Once the Eve dries up the passion has to kick in And I've been

[00:26:30] really impressed with how those folks have Have turned it around over there.

[00:26:37] Andrew: Yeah, I think that's a good point. you know, I think we've, we've seen some other projects with Freemans recently, and we've seen these in the past and You know, those are, that's another one where. Yeah, I guess you are really want to continue trading. If you're really looking at only getting paid based on, uh, based on a percent of transactions.

[00:26:55] So I think that's a good thing, you know, we've seen, we've seen a lot of inferences. Really get up there. And I think any, any mint that is especially high is, you know, it doesn't mean don't do it, but it does mean, you know, they earned the right to do that? Have they earned the trust and will they, you know, you know, I don't know, will they continue to work at it to, to add value?

[00:27:23] You know, it's something that, you know, you've really got to keep in when it's a high, mid price.

[00:27:27] George: I'm afraid of making any absolute statements, but right now you can hold me to this one. I'm really going to stay away from Hyman prices. I'll just be honest.

[00:27:36] If, if,

[00:27:37] X copy can't hold value for a

[00:27:40] mint price. The arguably well-known names in the game, then I'm, I'm really, I'm not going to be traveling too far over 0.2 weeks for mint. And especially in that, market right now, like in hotter markets. Sure. but until the next moon, birds comes along And we see it coming and we're like, very clearly you just try to do your best to get in that white list And you know, good luck.

[00:28:04] But otherwise it's It's a very sharp

[00:28:08] market out there. I'll say.

[00:28:10] Andrew: Absolutely. Yeah. I'm definitely watching my trades a lot closer right now because, uh, I've noticed things quickly if, if they don't have much history or even if they do, in some case, this is.

[00:28:22] George: Yeah. Quick note, a little alpha here for the DGN, since they did the

[00:28:27] a D E G E N Z. Uh, they did do that drop in snapshot

[00:28:32] already. The price tends to drop after that, but I don't

[00:28:35] think the value of this community is going away. And it might be an interesting

[00:28:39] time to just keep your eye on that floor. it's currently hovering And it may drop a little bit more

[00:28:45] Andrew: looking at. It was up to almost half anyth by the way. So it's fluctuating, definitely worth keeping an eye on.

[00:28:52] George: the problem is I don't want to sell mine. I need This is the whole problem. Like, oh shoot. I should've got two. and it's the same thing with low now. And I'm like, I can't sell it. Oh no. And now I have this like heartbreak of watching this thing right

Is Instagram integrating NFTs actually really big news?

 

Theme: Is Instagram actually really big news

• mint/transfer/buy on platform via polygon? Step 1 is read NFT only
• Waaay more than PFP “think even bigger” from the Matic engineers working with facebook on Bankless podcast
• https://www.youtube.com/watch?v=5TBqnWVgui8 
• Other chains coming too: solana, Flow

Affordable project:

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • OpenSea Finally Brings In Some Features To Detect Fake NFTs 

Theme: One year ago, what was top ten NFT?

 

https://web.archive.org/web/20210512185121/https://cryptoslam.io/ 

How can this change how we think about top ten right now?

• NFT News
  • Non-fungible Token (NFT) Market by Application and Geography - Forecast and Analysis 2022-2026
  • Linktree is rolling out new features to allow creators to showcase their NFTs | TechCrunch 
  • Voxels Airdrop Coming Amidst Flurry of Platform Activity - NFT Plazas 
  • Spotify starts trialing NFTs on its platform, Music Ally reports 
  • Rantum NFT Market Data,  Cryptoslam.io

NFT Collectible Rankings by Sales Volume (24 hours)

	Product		Sales	Change (24h)	Buyers	Txns
1	CryptoPunks		$3,152,021.29	1.80%	21	33
2	NBA Top Shot		$1,710,428.00	37.59%	12,855	42,780
3	Meebits		$782,390.65	62.42%	60	80
4	Topps MLB		$301,453.05	156.17%	1,522	11,831
5	Alien Worlds		$224,566.67	36.75%	6,937	56,854
6	Art Blocks		$172,373.11	251.65%	8	9
7	R Planet		$144,218.21	21.75%	194	376
8	Sorare		$96,201.50	30.42%	406	586
9	Bored Ape Yacht Club		$85,670.41	18.11%	37	39
10	CryptoKitties		$31,413.11	1,364.78%	4	5
11	Tribal Books		$19,069.08	50.37%	22	66
12	HodlGod		$16,965.83	0.64%	45	182
13	KOGS		$11,680.25	25.47%	391	5,006
14	Dark Country		$11,199.05	6.43%	335	2,745
15	Bitcoin Origins		$9,812.39	17.04%	37	84
16	The Horrors		$8,058.94	191.07%	170	258
17	The Uplift World		$4,813.92	45.13%	10	11
18	Avastars		$3,437.82	189.71%	2	3
19	Garbage Pail Kids		$3,260.45	9.11%	87	456
20	Mutant Warriors		$2,265.88	21.82%	60	295

 

Is the shine off ethereum-based NFTs? | Project: Metroverse Mini

Theme: Is the shine off ethereum-based NFTs?

• Solana surpassed OpenSea in daily trading 
  • Ok bears? 
• Okay Bears atop volume charts, inspired knock-off project
• Fxhash (tezos) surpassed ArtBlocks in sales volume of GenArt

 

• Affordable project: Metroverse Genesis Mini - Collection | OpenSea 

• Metroverse price, MET chart, and market cap | CoinGecko 

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Magic Eden Tops OpenSea in Daily Trading Volume as Solana NFTs Heat Up 
    • Struggling Artist Makes 4X His Yearly Wage In His 1st 12 Hours Selling NFTs 
    • Okay Bears NFT Clone Comes to Ethereum 
    • https://twitter.com/9x9x9eth/status/1526215809453916160?s=20&t=mzOzoah_7CWZ9pStS9gX3w 

Can we stop saying blue-chip NFT? | Project: Bankless DAO

Theme: Can we stop saying blue-chip NFT?

• In the land of equities https://www.investopedia.com/terms/b/bluechipstock.asp 
• One criteria: Have you survived 1 year or more and lived through a bear market with the same team maybe you are a blue-chip… 

 

• Affordable project: Bankless DAO: https://www.bankless.community/

• • Discord shout out: https://opensea.io/collection/avius-animae  from JohnnyMac6969. https://medium.com/@johnjannuzzi_89786/avius-animae-is-just-the-beginning-327196677852 
• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Blue-Chip NFT Collections Hit Harder Than Bitcoin in Crypto Rout
    • Azuki Founder Rugged 3 previous projects.
    • Instagram is Rolling Out NFT Tools This Week, Letting Digital Collectors Clearly Show That They Own an Image

 

Transcript:

[00:00:00] Today on all about affordable NFTs. Can we stop saying blue chip NFT? We'll get into that at first, Andrew, what he's seen in the news?

[00:00:10] Well, I think you know, this is maybe alluding to one of the things that I'm seeing in the news because ah, we saw this as Zuki has been. Maybe claim to be a blue chip and Ft who that has taken a big hit. The the founder came out and exposed himself to have been a pro Ben, the founder of three previous projects that, you know, you can debate the, the, how much of rugs they were, but he definitely took a lot of ease and didn't deliver everything.

[00:00:42] Deleted socials, maybe impersonated a female persona in a, in a Twitter does account for one of the projects. So all these things, so. That's a Zuki project clearly fell out of the blue chip status quickly. The floor went from over 20 to under 10 fairly quickly. Although I believe it's still holding around 10, somewhat, surprisingly to me, I haven't looked at the last day or so.

[00:01:10] But yeah, that's a, that's one that I think is maybe triggering the the title here is I think we've got to look at this. There's no such thing as a blue-chip in NMT because they are an FTS. Pictures, they're JPEGs. They are digital files. And we've only been doing this for how long there's the oldest ones are like six years old.

[00:01:31] I mean, like the oldest, oldest, oldest, come on, you know, there's no such thing. We know that there's no value assigned to these are most of the time. So there's no such thing as blue chip. We got to get over that. Right. But that's what we were seeing out there in I don't know, other craziness that we didn't even get to talk about last episode

[00:01:50] It was, it was a bombshell that this went off and like, it was like everywhere. And then suddenly it was just, we didn't even mention it last time. Cause it just like, you know, it would have been the entire focus of a whole episode, but you're like, ah, well, so it goes, you know, like what?

[00:02:04] Yeah. Do you know what the floor actually is on a Suki now, did you

[00:02:07] Yeah, it's a little over 10. I just peaked it. So it's, you know, the community is holding strong, but there's a lot of A lot of negative, a lot of negative pressure there. And also it's just, I can't get behind the impersonation elements. The, you know, I want to be careful because founders are allowed to fail. However, the way you fail is very important in crypto and rugging is just something that's gotta

[00:02:31] mean, you could fail, but better disclose what your failures are, disclose your past projects. Say what you're doing now to learn from that. Not after the fact not this was, you know, and I listened to a Twitter spaces that he went on with. Andrew, Wing's a kind of social NFG, social media personality.

[00:02:51] And, you know, it was really disappointing because he gave very run-around answers. Wasn't. As much as far as follow-ups and didn't seem to really understand why people were upset with the whole situation. So little unclear to me why he wrote the article. There were some rumors that others knew about this and were kind of forcing him to come out about it or else they were going to meet the news.

[00:03:14] So I don't know about the veracity of that, but there's also the, I don't know maybe doing this when when there's. A lot of other negative news, you know, to hopefully have people sort of move on quickly. And I don't know. We'll see what happens here. You know, I'm looking at the sales right now and they are solid.

[00:03:31] There's a lot of sales happening. So he is certainly taking in a lot in royalties as these 10 plus eats sales. Just roll in every, a few minutes here.

[00:03:41] Yeah, well, it's like as, as they trade hands, he does well on volume. So, you know, okay. You know, not a project that I kind of ever got into around another title and you're going to be seeing, I think a lot of this is the, this from Bloomberg Bloomberg out of blue-chip NFT collections hit harder than Bitcoin in crypto.

[00:04:02] And so it's, you know, it's definitely true where you're not down 30% or, you know, under a hundred EAs on board apes and punks have fallen as well. You know? I don't know. What do you see in this?

[00:04:14] I mean, it's an attention grabbing headline. I'm not, it doesn't mean a whole lot. I don't know what blue chip means also. I mean, over what period, you know, if we want to say a year ago, Four dates have done pretty well compared to Bitcoin. If we want to go, you know, a week ago, it's different, you know, I mean, that's a sort of how, how it goes.

[00:04:35] It really depends what you're measuring. So I don't know. And they're using the term blue chip, which I wouldn't. I

[00:04:42] Yeah. that's, the blue and that's the blue chip use, right? That's why I had to include it. I had to include

[00:04:46] as that is funny. And you know, they certainly, I don't know if you're going to look at the non Bluetooth. I would say gets a lot worse.

[00:04:54] Yeah. Okay. Instagram rolling out and hefty tools this week. I guess it depends on when you're listening to this, but they're letting digital collectors show that they own a image. So there you go. Following the, you know, falling with Instagram what Facebook always does, which is copy and paste, ironically for NFTs in terms of features that Twitter has already rolled out.

[00:05:17] So now that. Maybe I, you know what, there's no like, oh, this'll bring in everybody. It is another little sort of minor move of web two to web three that might interest seven people

[00:05:29] Yeah, and it's not a real big move. I did notice that they're working with a few different chains, including polygon. I think that's what they were launching on initially. So I think that is interesting. That polygon is being used there. I think we'll see.

[00:05:40] I can bring my horses. I can get my horses into play.

[00:05:43] Well, yeah, and I think it's good for that, for that layer to start getting used or getting used by bigger, bigger customers that maybe need to roll up more of these transactions. So I think that's good to start seeing them actually realize that that could be a problem later on, rather than just going on a theory of only, and assuming that it will just work.

[00:06:05] And I, you know, I don't think that's gonna work for Instagram users when the fee, when they see these. Are insane on the Ethereum network. So going into polygon sounds like the right move and it makes me a little more optimistic of a polygon as well. Not that I haven't been big on polygon to begin with.

[00:06:22] Yep. Nah, I'm in long polygon, but been a little painful to be old in the old MADEC token, as of late

[00:06:27] Yeah, absolutely. Right. Hey, you

[00:06:29] bit. The interesting nuance here, just speaking from my own perspective and what I've, what I've seen is that, like I have an Instagram account. There's no way in the world.

[00:06:39] Then I would change my picture to an NFT because I have a different personality there. My web two socials are very, very, very, very different. It's like, there's this like, you know,

[00:06:52] nighttime, I'm mostly stable daddy during the day. I have to be a reputable human being and also a dad and also somebody on social who's posting pictures of the kids.

[00:07:01] Like I'm not going to put up. You know, I'm joking. I'm not going to post my, my, my horse as my profile pics. So, okay. On the positive side though, I'm a little

[00:07:12] Maybe that says more about your NMT collection then.

[00:07:15] I've Hey, maybe I can, I'm still trying to get one of these nouns, like that might do it now. It's just, you know, I just don't like the signal unless it's like designed for that, but you're right.

[00:07:25] Maybe I

[00:07:26] Yeah. Well, I think that's something that we need, you know, that we'll need to be champ or overcome. That is a challenge. If people don't want it at all, they're into it. You know, what is the right way for Instagram to maybe come into this? And I don't know what it is. I don't know. I'm not sure if they're just trying to force their way in here, but you know, if we need people to come in to make this grow, you know, we're going to have to see some other adoption than, than what we have right now.

[00:07:49] but the Domino's are there. Right? Because if you look at Oculus and that whole ecosystem, you know, pulling in NFTs is just one step to the left. Now they're beginning to go in that direction of allowing these these entities. And like that starts to get me interested if suddenly I can like bring in my skins or whatnot into, you know, moveable elements.

[00:08:09] So we're seeing the beginning of the beginning. Something to be hopeful for, but again, I'm not holding the breath. All right. Any else? Anything else in the headlines before we move? Move into

[00:08:19] No, nothing else from me.

[00:08:21] Okay. So I have got an affordable project kind of. That's the funny thing is I've been talking about this prior to, you know, everything melting down and I still like it as a play.

[00:08:33] The Bankless Dow. So Bankless is, I would say the number one most listened to crypto podcast or for certainly Ethereum based podcasts. They have, you know, guests like. You know, the metallic and they pretty much can get anybody on this. On this podcast. They have a tremendous listenership, a very active discord in the Bankwest stout essentially is by membership.

[00:08:57] If you have a 35,000 of the Bankless token, and that then gets you access to you know, their community, their, their alpha, their conversations, and also just a ton of voting and a very impressive network. And so that. You know, it's a token, mind you and everything is a pretty volatile. I don't know if you've noticed, but their play here is coming back to NFTs in their conversation with Kevin Rose, who you remember is behind moon birds.

[00:09:28] And their conversation there, they were kind of picking Kevin Rose's brain about, Hey, how would you do an NFT drop if you were us? And his first statement was just like, you've got to reward the people who were there at the beginning, the people who are your original holders and people that are downloaders would be potentially one of those groups.

[00:09:47] So this is, as you can see speculation upon speculation, but at the very least, you know, I think you're, you're part of a community that has attention and has loyalty and has. And when we think about things, that'll survive a fire. I know that they are committed to continuing that podcast. They have survived previous bear markets, one of those indicators, and I think they might be around.

[00:10:10] So I don't think an NFE is coming anytime soon, but when prices are low might be interesting. What is your hot take on this, Andrew?

[00:10:18] I like it take, huh. Now these guys have been around building. They have been wiped out. They were around in 2018 and I listened to their podcast all the time. I think they produce some of the best content, really insightful. They know. The crypto industry. They like, I mean, as well as anybody that can talk about it.

[00:10:38] And I really liked that they've been here when nobody was paying attention when they lost everything. When everybody left, if that did happen again, I'm pretty sure they would continue doing the same thing. So that makes me a very I don't know, I'm very bullish on, you know, being part of anything that they will do.

[00:10:57] And I think that is a great way to get in just to any project that they may end up doing, you know, who knows what they, what they have planned. They definitely seemed interested in maybe launching something. They've got the bank west Dow, and I know they, they talk about building even more. They built quite a following.

[00:11:15] And I think this is, this is worth getting into, if you, you know, if you're, if you believe in the Ethereum system at all, you know, they're going to be here. So I like it.

[00:11:26] Awesome. And then I have a quick one from our community, actually. And this is one from Johnny. And this is I'm going to mess up the name of this one, for sure. AVS anime, AVS anime. And that the artist is basically created these generated images, which are very sort of uplifting pro-social and passionately.

[00:11:52] They're supporting the LGBTQ. I am community and with part of this and they're you know, they're looking to, they have not disclosed how much they're giving, but they're getting a part of it away. But really, you know, just cool looking images and full disclosure. I don't own any I will say they mint it out.

[00:12:12] I believe it.

[00:12:12] was 10,000 and there are about 3,400 owners of is in the affordable range of 0.01, three. And they do have a discourse.

[00:12:22] Yeah, I really like the art on these they're cool pieces and it sounds like a cool project to be a part of, if you just want to support this. Cause I don't know a ton more about it, but I'm glad someone was able to bring this to us. Thank you, Johnny.

[00:12:35] Yeah, they stated that half of the mint profits will be donated. And I don't know about continued sales, but worth worth checking out a unique art. I will say that this is not like sort of, you know, lift and shift from a, another one. Seemingly hand drawn and then sort of again, generated cool stuff.

[00:12:52] Thank you. All right. Can we, can we start over? I mean, can We stop saying blue chip?

[00:12:59] We may be doing that right now. We may be in the process of that. Although I have a feeling we're just knocking them off one by one.

[00:13:06] Yes until there's none left. Okay. So I thought it'd be fun maybe to start with like, you know, in like Bluechip parlance, right? Like when you're talking about blue chip, it was first described as high price stocks in 1926. remember that date, right? When an employee at Dow Jones observed that certain stocks trading at $200 or more per share were like, kind of like a poker chip that of, you know, blue, white, and red, where blue was simply more and, you know, kind of funny that it was coined in a period of time where the 1920s were pretty volatile with regard to stocks, but you know, it really refers to a blue chip.

[00:13:47] That has been operation for this a generally a number of years, but you're thinking like Coca-Cola Disney, right? These are companies that have been in the game for 30 plus years. And so you're, you're sort of really thinking about what a company that has survived and up and down market. Maybe multiple times a history of execution has delivered on promises time and time.

[00:14:12] Again, you know, has value in the. No, maybe even throws off a dividend. Like there's just, it has very clear characteristics. They're seen as less volatile investments highly liquid, a lot of these words I'm using and not

[00:14:27] They don't describe the NFCS

[00:14:29] I've been describing.

[00:14:30] I mean, I think it'd be hard to, it's hard to even describe that too many stocks. In today's age because things are so volatile compared to them. And, you know, I know that it was quite volatile then, but that the, the day to day volatility and the way that things shift quickly now is, is quite different.

[00:14:48] In much faster trading, we didn't have people that could just trade at at their fingertips at any point. So I think the idea that anything could be Bluechip especially. Such a ridiculously volatile and illiquid market, like NFTs is pretty preposterous. Really.

[00:15:08] Y it kind of irks me though, is the false sense of stability. I think it imbues on things that just happen to be very expensive. There's a huge difference between something that is very expensive and something that is very. And I think that's like, let that sit for a second. And I get very uncomfortable when, you know, people start, you know, especially with people who maybe can't afford her, it's on the edge of what they can afford.

[00:15:37] Start pining. After something that they had imagined would hold their value. You can even look at something like crypto punks, which is, you know, the, the OJI of OGs of, you know, what we look at for NFTs. Do you remember. The company got bought straight up. So that is just a different company now, Right. UGA labs now controls that asset.

[00:16:01] And if they want to destroy, demolish change, whatever that brand, they can sure you own the asset. But I'm looking at these as like small companies that are running to drive the attention and value and utility. Of these assets and I, I, I don't think there's a single project. I could point to that even fits the following very base criteria, having survived a year or more, and also have lived through a bear market and crypto with the same team. There you go. If you, if you can check those boxes for me, go ahead and call it a blue chip. I'll give you a second.

[00:16:42] Right. Yeah. We've definitely had an issue of people, conflating price with blue chip and we see over and over that high prices leave a long way to fall. And we're seeing, I mean, we are seeing them kind of be taken down and right now, you know, I guess people are still considering board apes and maybe punks.

[00:17:01] Although, you know, you've got to think that punks over. We'll never be able to to challenge board apes as a brand in any way. I mean, they're owned by the same company that clearly wants board apes to be the king there. And, you know, they should, it would be wrong for them to let another brand challenge that, but, you know, what are the, what are the more tried and true brands?

[00:17:24] There aren't any you know, larger labs probably had the longest Longest record, but I think they've done a lot to sort of tarnish their reputation and they've let go of the brand anyway. You know, I don't know that I, I'm not sure that, I mean, I certainly would not put board aids in a blue chip or even the team and the blue chip category at this point.

[00:17:44] We've got to see, they've got a lot to prove. And at this point, the other side minting is you know, not looking great interns. How the energy market has fared since then.

[00:17:56] Yeah. And just a week ago, had we been marching through the blue chips? We would have been a mentioning Zuki.

[00:18:04] Exactly. Yeah. Zuki. I think the others that have been up there, I don't know, maybe a Clonex the, what have we had? And we've had a cool cats were up there at one point. I mean, right. Artifact. I mean, maybe because of the, you know, there's all these, all these. Priced are these, you know, these big collections that are priced high that are considered blue-chip.

[00:18:26] And, you know, I think if people, especially when the price is, I want them to be blue-chip because you don't want to think that your 20 EPS could all of a sudden be worth for Eve and you know, the truth is that it can happen and we've seen, and we've seen what happens in when people run to get liquidity exchange, certain tokens for what they think it's worth.

[00:18:48] And that there's not quite as much liquidity there as it was. As they believe, and it changes the value pretty quickly. And that can happen with your NFTs as well.

[00:18:58] And, and in short order, because the market for the other side can, can vanish very, very quickly. All right. So again, I say it here, like if you've survived over a year and you've lived through a bear market, so it's like has to be over a year because bear markets come and go. With the same team, maybe you are a blue chip.

[00:19:16] So right now there are no blue chips be very careful. And that's why we always like to make affordable small bets on what's. What's out there.

 

5 Things to Do in a Bear Market | Project: Lil Nouns

Theme: 5 Things to do in a Bear Market

1. Long view and relax
2. Don’t trust, triangulate (Milk road was pumping Tera just a month ago and I love them)
3. Get ready to bid, not buy
4. Watch the teams that stick with it.
5. Winners that survive win big,  Pine cones are triggered by fire

 

• Affordable project:  Lil Nouns, https://lilnouns.wtf/ 

• • • Discord mention: https://www.floornfts.io/   from block_bounce
      • https://opensea.io/collection/floor-gen3 

 

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin: sources
    • Coinbase posts net loss of $430 million for Q1 2022
    • Fantasy Baseball Crypto Game: Sorare Brings NFT to MLB
    • I bought an ETH address. So did thousands of people going for 3-4 digit numbers. https://cryptobriefing.com/ens-mania-continues-as-three-digit-domains-hit-15-eth-floor/ 

Transcript:

[00:00:00] Today on all about affordable NFTs, I can confidently say there are many affordable NFTs out there, Marceau. And maybe before, because today we're talking about the five things you should do, could do, might do in a bear market in crypto and NFTs. How's it going, Andrew?

[00:00:22] Oh, man, it's rough. I mean, this is, this is one of the ugliest spend a few days of that. I think a lot of people, or maybe even anyone has seen in crypto, it's been really ugly out there in NFTs and in the big, bigger crypto world in general we've seen prices of everything takes significant heads, but some people have been wiped out of large amounts of their entire savings in a very short amount of time.

[00:00:48] So it's, you know, it's rough to see. Yeah, it's, it's tough to, to be, to see this right now. And how quickly does this come about?

[00:00:56] Yeah, so jumping right into it. Obviously you are referring to the Luna foundation and the

[00:01:03] Luna and Tara. Yeah, us Tara. It was a stable coin on the Luna, which they've just say alt layer one. And they had a, the, what was supposed to be a stable coin. It was an algorithmic scale, stable coin that was balanced with the Luna token. So it was the, the us Tara token was supposed to be a dollar at all times.

[00:01:27] And then they would print more or burn or the more, the. Kara Toca we get, or the Luna token would get bought up. But that's started. That's not, I don't know. It was a question for a long time, how stable that really was, because if the, if it could just print more, at some point you just need people to want that token.

[00:01:44] And someone seems like, I mean, there were a lot of people that were warning against this and someone decided to act on this. It seems like, and borrowed about a billion dollars and started selling into this to start triggering this loss. And once it started losing its peg, it's sort of. I started a whole I dunno, spiral here and everybody started doing the same thing and it's been you know, I quickly lost over 40% is value and then there were people fighting back, but it has been just heading down quickly and continues to lose you know, more and more each day.

[00:02:17] And as they print more Luna, I think there is over 20 X. The amount of Luna was printed in a single within 24 hours. So the supply of that is just going. Insane. So, and there's not much value there. So they did actually stop the blockchain entirely. I believe they have started it again, although I don't know what the current status is.

[00:02:39] It basically seems like there's 50 built up about $50 billion that has been wiped out from the crypto markets.

[00:02:46] yeah, that's the TLDR, you know, if you're, if you're in there and I think this is a warning to anyone, if you don't understand the project and you have to rely on in code re trust, there is a reckoning and, you know metallic good run actually. Had that statement of like, I'm not sure if the tail risk has been properly assessed on this, but you know, innovation has to thrive and I think innovation is wonderful, but the problem is when you get it, something that is great on paper, but has never been tested at scale, which then has interdependencies on the entire market because in order to sort of make that margin call, so to say, Know, Luna starts selling off just amazing trenches, billions of dollars worth of Bitcoin.

[00:03:35] What's more, that has second order effects, which relates to the NFT market. I also believe second order effects of anybody that was leveraging margining at any level. Anything that was terrible, which was a stable point. People thought it was safe and stable. Anybody leveraging. Just got margin called.

[00:03:53] And so just sort of from a liquidity standpoint, a heck of a lot less in a very small pool in a very short amount of time. And you know, it's tough.

[00:04:05] I mean, they, you know, unfortunately they were bringing in a lot of new people to the system, to, to crypto. They were, I mean, they've got a, they still have a deal with, I think, the Washington nationals, I believe with maybe the New York Mets, they've done a lot of the stadium advertising. We've seen this in other, from other blockchains.

[00:04:21] We've certainly seen a lot of mainstream advertising and I, you know, I would look at a lot of those a little differently in light of this. And I'm not just saying in light of this, there's been a lot of talk about Tara for a long time and how they were just sort of printing this money and it wasn't really there.

[00:04:35] So, you know, it's really unfortunate. You know, it's better did that. It you know, unfortunate, better that it happens now as opposed to when it got even bigger. But at the same time, I think this is really going to mark a, you know, Mark A. Day in crypto or a time in crypto before and after, because there's going to be a lot more regulation coming here.

[00:04:55] There's been. There's been things like this before, but not nearly to the scale. And, you know, the, the founder of this was, I don't know, maybe, maybe very egotistical and, and really did not take any criticism to this well, and you know, his, I would say that that was even a part of bringing more people into this.

[00:05:17] Put in the end, it's going to leave a lot of people that with a lot, I mean, they just, there's a lot of them lost everything. There's going to be a lot more regulation coming in and I think rightfully so. And, you know, hopefully that will help in the long run. But in the short term and maybe learn a medium term, you know, this is, this is a significant hit and is, you know, we're, we're saying bear market, and we've said this before, but you know, I think we can look at this as in a different way than just like NFTs are going to slow down.

[00:05:44] You know, crypto in general is going to have to find a way to overcome some big, big challenges here.

[00:05:50] I think, is it correct to say that 50 billion being lost and in this sort of way is the largest, it's not a hack. It's just, just a full failure. It's a collapse of, you know, a house of cards, right? If you have. You know, the, the last major institution to do this and did it successfully. It was when the us dollar unpinned from in 1972, the gold standard, right?

[00:06:14] No longer is gold backed in U S and you're just backed with the fact that no, no, we're here. You gotta be pretty darn big to get away with, Hey, here's money. Go spend it. It's not backed by anything. Like there's just laws of human nature and trust. And I, you know, regulation is common for sure. I think you're right.

[00:06:33] This is a. This is a moment before and after, and it's, it's going to set back adoption quite a bit. So that will hopefully help us with how we kind of change our perspective. But again, that what you can't afford to lose. I mean, it's in our intro and outro and, you know, say it as much as possible. And I hope that people listening, aren't sort of taking this as like haven't been hit too hard.

[00:06:58] Yeah. Hopefully not too tied up in this. I mean, unfortunately there's a lot of funds there's. I mean,

[00:07:02] you have any Tara? Did you,

[00:07:04] no, I

[00:07:04] you weren't touching and where are you?

[00:07:05] ecosystem. And.

[00:07:07] I stayed away from algorithm, stable coins. Cause it was like, but I have a choice of USB-C, which is back. I'm going to go choose the one that's backed.

[00:07:15] Yeah. Yeah, I, you know, there's a, there's a few different, there's a few options with stable clients. I would definitely go with ones that are a little more tried and tested. You know, Lindy effect is real. Look at, what's been around, look at what I don't know.

[00:07:30] isn't promising 20% returns for just holding the stable coin.

[00:07:34] I mean, that's, that's not realistic over a long period of time anyway. You know, and we see these crazy APRs. And I think in anytime that you're seeing just outrageous APRs and don't understand why. Really take a second look. You know, there's that, that part's going to start to change. We know how much those are.

[00:07:53] Those types of things with promises of APY and APRs are pro are allowed to be, to be advertised in, you know, in regulated financial markets. So I would expect that the we're going to start seeing big changes there because right now it's really meaningless when you can compare these, when you, when you're trying to look at an APR and there's one that's printed.

[00:08:12] You know, a thousand X apply every day or something like that. And, you know, expecting that somebody understands that part of it because they've looked at, you know, page 13 of a white paper is, is a little, is, you know, it's not really fair at this point. So I do expect that that will change, you know, I guess moving on from this, we do want to say, you know, there is the market is, is.

[00:08:32] And so what do we do now? Because there are things, I mean, everything's on sale, but you gotta start thinking that not everything's going to come out of this. So we want to start thinking about that a little bit and think about where, where things are going from here and what we need to be looking to do in this type of market.

[00:08:50] Yeah. You know, I think we have other pieces of news here just to go through them, just to Sam, because you know, Coinbase posted in it loss of 430 million, we

[00:09:00] Here we go.

[00:09:00] doing

[00:09:01] Couldn't do,

[00:09:01] have their NFT launch. Like sure we get it.

[00:09:04] there were news. There was also news that they spent 600 million on to develop that marketplace.

[00:09:10] no, they did not do

[00:09:11] Yes, I identity. I don't have the link here, but I have heard this 600 million. I think it was somebody figured this out yet. I'm sure it wasn't a line item in the in their quarterly report, but I think someone probably looked.

[00:09:24] The reports before, you know, it, previous quarters have noticed where

[00:09:28] users on it are going to generate enough to make

[00:09:30] Matt, they could have just given an airdrop to everybody and, and, you know, I mean, and people would've actually come, you know, spend it in this, I dunno, coin, token, Whatever. Oh, man. So there's that.

[00:09:45] Okay. Yeah. There's that? Stocks at all time lows, no idea.

[00:09:49] As they lose 430 million and blow another 600 million. I

[00:09:54] yeah, they're dropped I think 60% off of where they were, whatever big numbers

[00:09:59] from IPO. I

[00:10:01] from 87 from IPO.

[00:10:03] Yes,

[00:10:04] Hmm. Okay.

[00:10:05] we need regulation to come save us from things like this. I mean, I don't know what this is going to end up like.

[00:10:11] Yeah. Hey, here's a, here's a slightly more positive one. I threw in here. The soul rare offering fantasy baseball NFT game with MLB. We've seen others try. We've seen others fail, but so rare they're players. They are

[00:10:27] was excited to see this. And I, I, when I first saw the headline, I confused it as thinking that we had already talked about it, but that was a PGA. So yeah, they they've it was so rare branching out from soccer. I am excited about this. They've definitely been able to get attention and provide and produce a real game.

[00:10:43] And I, I still think that that is a big opportunity here and they've shown they can do it. One popular sport and hopefully they can do it with MLB and it'll be as clearly trying to get this right in some way.

[00:10:55] And then another, another news I, you heard. I, I bought the mostly stable dot ether. Finally, I bought it during our episode actually, and I, and I switched. But apparently we were calling out that we saw, we have this like way of talking about the right industry just before it like, kind of takes off.

[00:11:16] So remember we were talking about how, you know, maybe you should be picking up some ENS domains of things. Well, there was an absolute mania that has taken off with three and four digit ENS domains. What do, I mean, a three digit like number digits domains, because people suddenly realized. So like for example, you know, 7, 7, 7, Four or 5, 5, 5, 5, whatever.

[00:11:37] It may be. Some any, and all of those numbers have all just become this entire niche collectible, because what people realize is you can make sub domains recently of that email addresses. So you can have your, you know, your moon bird dot 5, 5, 5, if that's your moon bird, that Eve and create all of these things.

[00:11:57] And then there's like the below, you know, 1000 club below 10,000 club that is now forming these separate communities. Entire communities forming around the ENS domains and currently three digit domains. I think they hit around a 15 each floor. So I didn't guess that that's what would happen, but in S

[00:12:16] Yeah, here. I am stuck with a bunch of names, and they should just buy an up

[00:12:19] should've bought numbers where like we were, we were in the ballpark.

[00:12:23] Just not the one the players were going to play in.

[00:12:25] right. You know, was looking at domain names and domain names, numbers of rarely cut on. I can't think of many, many number domains that have worked out, but oh, well, Should've gone that way.

[00:12:36] It's just, yeah. Where we were just to the left. We were like, there's something here. Anyway, we'll get it right next time.

[00:12:43] Well, you've got an affordable project for us this week, and I think that you've talked about this a bit in the discord, actually. So if you were in there, you may have heard about it.

[00:12:51] Yeah, the LA Phil Alofa in here. Okay. So what we have is little, little nouns, L I L nouns.wtf, because why not? If you're familiar with announced dial and now in project, they are a very impressive, reputable, you know, glasses wearing a Dow that's been around. They make one per day, technically. And the little nouns.

[00:13:14] So they make one per day and you go out and bid on it. And those are, you know, going for many EAs. This is the little nouns which are going to be minted every 15 minutes in an auction style. They are smaller than the other nouns. They are generated on chain and they're, you know, say they're going to make, you know, one 15 minutes for.

[00:13:35] So, and, you know, as you can imagine, that's for every hour though, I think there's some delay because of the way the bidding system works. There is an interesting game dynamic here also where the. Which McCall at the the treasury. So the little nouns treasury, and the announced that treasury are technically getting like every 10th and 11th one automatically in there.

[00:13:55] And then the rest are just literally on the site for mint and availability. Why do I like this? You know, the art is iconic and you know, it's recognizable. And I think, you know, with this type of dynamic and community behind it, that, you know, builds over to. It stands a chance of surviving the absolute conflagration right now, this burning down of everything.

[00:14:17] What do you see in this project? In.

[00:14:19] Yeah, I like that. It's connected to nouns. I think that it's, I mean, I think they'll get the idea that maybe it'll just be too many, but when you start thinking about what 10,000 you know, what it takes to get 10,000 sales right away for a collection and actually getting to see these as they come out, I think it actually adds some excitement and interest over time.

[00:14:36] And we've seen that with the the announced now I do like that it's tied to that. I haven't looked. I haven't looked at the bidding. I know you've been doing some bidding there. I haven't actually gone and done that yet. And I, I like your idea of trying to get In.

[00:14:49] early both to get one of the early ones and, you know, hopefully maybe get in before everybody knows about this.

[00:14:55] Cause I have heard some others starting to talk about this. I think maybe Bankless just mentioned this one

[00:15:01] Oh, no, they just mentioned it.

[00:15:02] I think they may have. Or I, I know it's about somewhere, so but I'm sure you got it beforehand. I'm sure you wrote it on here. I hope we'll get this out. I don't know. I guess we can't get up before them.

[00:15:12] We're literally recording it as I just said

[00:15:15] you know what, join the discord here. It is. Join the discord because I put every crazy idea in there. You put all this like extra alpha that we

[00:15:23] his a lot. Yeah. He put a lot of crazy ideas in there, but you know, some of them are good. No, kidding. He's great ideas.

[00:15:30] so here I've been, so I've been after it, since it launched. Cause I won one of the first 100 little nouns and you can't get them on the secondary because everyone who's getting them, understands them and are just, you know, posting it for extreme amounts. So here's the game so far that I understand.

[00:15:44] And if you see me, don't bet against me. You jerk. Okay. You're given 15 minutes, don't be the first bidder you really want to wait. Cause you're playing with gas. If gas is high, just don't bother. So actually one of the painful things originally was that gas was going through the roof because of Tara and all of the nonsense going on there.

[00:16:00] So the game I've been playing is that you wait until one minute is left and I'm actually doing this right now because someone, I really want this one, hold on. I'm

[00:16:09] What are these going for right now, George?

[00:16:11] Ranging have seen as low as 0.4 and as high as like 1.4. But right now they're hovering. So it's like affordable ish, but you can catch it.

[00:16:22] You know, if, if it's at the right point, you're waiting for a minute left. And as soon as a big comes in, it resets to one minute left. So you kind of playing this game of like in an auction and they're like, oh, all right. The last bidder is here and we're three, two. Oh. And now there's one minute left. Then one minute, it starts again and you put it up there and you can kind of grow by increments of point, point, whatever, but keep in mind, every time you submit a bid or submit, you're running a little gas, so make it like, you know, last minute and at a bid that you can win.

[00:16:54] So you don't, for instance, want to just be bidding on each one at a low level and just being outbid each time. Like, that's a great way to just burn a lot of gas points.

[00:17:02] I think that's somewhat necessary to make sure that the bidding doesn't go on a needlessly long because people could always just, well, I Don't know. Maybe if they're just bidding, you'd always have to honor that, but that's, that's an interesting aspect there. A cool project. I'm definitely going to check this out now.

[00:17:19] I'm on the site and it's,

[00:17:20] Don't bet against me. I

[00:17:22] it was not me. It wasn't me.

[00:17:24] I know, cause I can see your domain. This, this C8 six, three has got to stop it. You already beat me earlier today. All right, I'll stop. Anyway, cool project. I also want to do a quick shout out to block bounce who brought us floor nfts.io. And I'll just do a quick summary.

[00:17:43] This is just, you know, Shannon. I was interesting. They have an NFT tracking app. So this is a mobile app for tracking, as you can imagine, the floors of your NFTs and. Basically it's on floor gen three. I would recommend for that gen three, currently sitting at below its mint price of 0.2. So you can, it direct from the site at 0.2, but no, I was taking a look at that 0.18, seven.

[00:18:05] So it might be worth talking around and taking a look. If you want to like play with the app, you could probably take flip a gen three, just to look at what that app has to offer and then show it back into the market. Just to see if it's something that could have. And so thanks block bounce. I full disclosure don't know any of these and I don't know, Andrew, you don't, I believe either,

[00:18:27] Either. No.

[00:18:28] but cooling up.

[00:18:29] So thank you. Block bounce already.

[00:18:33] All right. Let's get on to Our theme And I think, I think we do have to look at that. Look at this. We've done. Cause we have talked about bear markets before, and I got talked about this a little bit. I think this is a. Change. And we should talk about it a little bit. That way. This isn't just like a little dip here.

[00:18:49] I think we, you know, with this a big opportunity, we're going to see a big shuffle here. So I think we need to kind of frame it in that sense and not that eights, just a bit of a dip. I think we're going to see a lot of projects, guy and the survivors here. It's going to be tough to find, but you know, there's a real opportunity to, to, to find some diamonds in the rough in a way here.

[00:19:11] Yeah. And that's number one long view, long view and relax. Look, if you have derived some amount of joy and dopamine from collecting, being part of a community, you'll understand that this isn't going to go away. It's going to get smaller. It's going to get less expensive. It's going to be harder to pump, dump and create these overnight successes in the same way in the markets.

[00:19:36] Smarter, right? This is an inoculation in some senses, and that can be painful at times, but the long view that I have and hold is that, you know, this is in many ways, trading attention and culture. And one thing I know about the humans, we really do. Enjoy a collection as an activity and community as an activity as well.

[00:19:57] So I'd say take the long view on the projects you're looking to do and, and keep. And, but also if you need liquidity, freaking flip it, if it's pumping, you know, take your, take your wins where you want. So that's number one to try to have that long view, especially when you feel you are in a state of panic.

[00:20:14] Number two. I don't know anything to add on that.

[00:20:16] No, I think that's good.

[00:20:18] Yeah. There again.

[00:20:18] on a Number two. here yet.

[00:20:19] Number two, this is a big one don't trust, triangulate. And what I mean is don't trust anyone don't trust us. When we say a thing don't trust, you know, a Bloomberg, a Forbes, a crypto.com, a newsletter, a discord someone who's collected don't trust anybody, triangle. Check a few sources, gut check it yourself.

[00:20:43] And, you know, I will say immediately here, like milk road, which I am a fan of, I read was literally pumping Tara, but a month ago talking about how they had made that massive bed in it. We are so smart. This is an anchor in our portfolio. Look at the brilliance here, like, okay. I love them. I fortunately just don't trust algorithm, driven stable coins because you know, where's the money, but this is just a reminder that you are always going to be handed somebody.

[00:21:15] Who's selling you an idea and I'd have T a project coin triangulate. It.

[00:21:20] Yeah, I think a good way to another good way to think about things is think of the opposite. Think of the bear case. If you're very excited about getting into a project, if you're, you know, you are really against it, think about the bull case, you know, think of what somebody would say on the other side and think, you know, can you refute the problems there?

[00:21:38] Look at, you know, go search in discord, go search in Twitter, you know, find what the, what people are saying that. Detracting from the project and see if there's anything there. You know, there's always going to be somebody saying something negative. Sometimes it's worth listening to sometimes it's not, but it's definitely worth doing the research and seeing what the potential problems are because there were, you know, as we've seen, there's been a lot of talk.

[00:22:01] I mean, most of the things that we've talked about in NFTs and crypto, there's been talk about this beforehand. It's a matter of, you know, whether you believe it or not, and and are willing to. I don't know which side you end up on. So I think your go do the, go do the work. Don't just trust the headline.

[00:22:19] Don't just trust the influencer. Don't trust us. Don't trust your friend, you know, go check, go check and do the work, you know, go ahead and take it, but there's, there's plenty of places to go do more research.

[00:22:29] Number three, get ready to bid, not buy. And what this means is prices are influx and people are in panic, which means when others are fearful, be greedy to coat the buffet. Right. And so by. Moving your stash to web it'll help you actually make bids on things and you can low ball a bit if somebody just needs liquidity because everyone's getting pinched and it's in a project that you like, that can be an excellent way to really, you know, avoid gas, spread out your spread out your money to stretch it a bit farther and get into projects slowly and safely.

[00:23:11] Rather than following following hype cycles and, and getting into the types of projects that maybe have been on your, your longterm shopping list. And just flip those reservation prices out there.

[00:23:20] Yeah, I would add. You want to be careful, you know, what you're getting into right now, you know, really look for things that you believe that are going to be here in a year that are going to be here in a long time, make those bids on projects, thinking that you can move up in quality. You know, don't look at things that don't try to catch a falling knife yet.

[00:23:39] You know, the idea of the prices are falling. Don't don't look. I just pull it a great turnaround. If somebody just discovers this project, it isn't the time for looking at those types of things, make bids on known projects, on things that have a promise that have, you know, that have strong founders that have people that are dedicated to being here that have proven that in some way.

[00:24:00] And you know, look for those when you're making bids, not just every. In the way that that, that I don't know, maybe, maybe don't look for the price to rebound everywhere. There's a lot that will not be doing that.

[00:24:12] Yeah, the not catching a falling. If you're not familiar with don't catch a falling knife, look it up and really understand that doctrine. We don't have enough time to, to move through it, but that's an important note about minding the momentum. Watch number four, watch the team. Watch the teams that are going to stick with it because when the projects are abandoned, the community goes to, it's just a function of time.

[00:24:36] It's not when, but if, what are the teams doing? What is the morale and discord? What is the leader saying? Because you can have these very bombastic, very excitable leaders who are sprinter. Not marathon runners. I'm looking for marathon runners. I'm a runner myself. And that's fine if you beat me for the first mile two miles, 13 miles, because I'm planning for the whole race.

[00:25:01] You want leaders that are thinking about the whole race and where it's going. I'm not talking about a roadmap talking about sort of the, the conviction and team, and then the mechanics behind it. You know, I look at projects like the song a day Dao, right? This is silly as that thing is like, I know that Jasmine man is going to be creating a song.

[00:25:18] 'cause it's been happening for 13 years. I know that this project I brought you today. They're going to be creating these silly things algorithmically on the blockchain in a decade, because that's just how this works, unless the code breaks and those things happen. Right. And there's obviously like things that happened, but it's, you know, it's in that system, whether or not it's worth anything is another question.

[00:25:41] Same thing with song today. Remember triangulate your sources. But Andrew, what are the things that you say are markers of teams that would, that you can tell Steve?

[00:25:50] Well, I think there's a lot of ways that you can look for clues about how dedicated the team is, you know, start if it, especially if you have. You know, bigger holdings in a collection, I would really start looking at discord, look at, are they paying as much attention? Are they posting as much? Look at their socials?

[00:26:07] Are they as into this? Because there's going to be a lot of people. I mean, there have been a lot of people that have lost a lot of capital here and there's going to be people that just can't. Can't keep doing it for whatever reason. You know, there's a lot of, a lot of issues here and I would really start looking for clues, especially where you've got bigger holdings in your collections because the people aren't, they aren't engaging as much.

[00:26:31] If they start showing disinterest, I think. A leading indicator that they're, you know, that they're not quite as engaged in the work, even if they are maybe producing you know, some updates and you see some things. If it's not if you don't see the same enthusiasm, I would say that's a red flag.

[00:26:48] I guess so far, it's making sure that, you know, is there a team that is still employed, like go on to LinkedIn, take a look. Are there folks that say like, yeah, I work here. I do these things. Are they shipping actual features that you can see, you know, a new product updates and something like that. We built it.

[00:27:02] It's tough, but we're here to build this thing. This is where we're going. And,

[00:27:06] I mean, I wouldn't even say maybe even look at, you know, if, depending on what the type of project is, you know, look at how their treasury is. Did they have they manage that well? Were they heavily in ease? Did they, or were they all in ease versus, you know, and they have a team that they need to pay.

[00:27:21] I mean, that can get hard if, if they do have a team and, you know, suddenly they have half, as much as they thought they did, And, that really changes their runway. So, you know, I think really start looking at these things. you know,

[00:27:33] a lot of things have gone wrong and it's going to be tough for these teams to keep doing it with, with all of these things changed.

[00:27:42] Number five winners that survive when big, I want to put this thought in your mind when a pine cone is on the. It's actually a seed. It's got seeds in it. It's got no chance of creating a pine tree though, unless there's a fire, the act of a fire actually activates and triggers this seed to say, Hey, it's time to go.

[00:28:02] And that's because these pine trees have been around for quite some time. And when there's a fire, all of the other brushes burned up. All of the competitors are burned up. They go away and suddenly these seeds are like, ah, I've got some room here I can spread and grow. And so with that mindset, I think there's.

[00:28:19] Exciting. Cause I have to find something positive here. Exciting opportunity to say, you know, there, there are opportunities now to see who's going to potentially survive. We saw that in two thousands where Atlanta little stocks like Amazon dropped 90% and then like rose like a freaking Phoenix. There are ones in here right now that are going to make it, but many will.

[00:28:41] Yeah, it's going to be hard to find them, but they are going to go out there, you know, look at the ones that are working. This it's going to be hard to find these it's. I think you're right though, to just say that they are out there and this is the real test.

[00:28:57] I'll end this with actually a post that was in our discord from miss 47 dot E this crash, you know, scares everyone. And it feels more like to me that I have a window, a window of people who were around for the board, a mint had like, I am, am I wrong to think that now is actually the time to buy up more than I have that I have both coins and NFTs.

[00:29:22] And that's the exciting thing, right? Like this. Macro FOMO of like, oh my gosh, I joined when everyone was talking about it, like, here's your chance to test if you were a tourist or a native or you're someone who is going to be sticking around on this. And it's the time to test conviction. And then in the next gen, when this comes back around, it'll be a year or so.

[00:29:42] Summer who knows it'll come back around a week, but I, I would say is don't make large bets dollar cost over time and don't trust anyone.

[00:29:53] Yeah, And I think this really does provide opportunity and I think it's good to even think there's people that have been fairly priced out for a long time. And this it's a great perspective to think, you know, can, now we can get into the coins to be able to kind of play these games. So it's I, you know, it wasn't that long ago that the, the, you know, You know, picker's perspective that Eve was at sub 2000 prices.

[00:30:17] If you, I, as you're thinking about, I mean, what was it maybe 16 months ago or so, I don't know. I am not looking at a chart, but if you start the, about how quickly that get at, you know, got to very expensive levels, priced a lot of people out and, you know, hopefully there is an opportunity for people to come in and there, we know there's a ton of building going on.

[00:30:37] And, you know, I am still optimistic of what is to come. I know it is a tough time and I think that we've got to look at where the where the opportunities lie out there.

[00:30:48] Yeah, absolutely. I mean, it's one of those reasons where, you know, you have to look at the underlying coin behind the platform you're on. And if you're, you know, holding we've been wary of Solano actually, because we were like, well, that corn's pretty expensive. Now, if you have a NFT denominated, You have just risk on top of risk.

[00:31:05] I mean, yeah. Ease is down quite a bit. And I will say that. And it's a good thing to remind you that like in a two year rear view. Yeah. Remember Eve Eve hit, like, I think it was like a hundred bucks at one point for, you know, peak pandemic. So, you know, that's also quite volatile. right. This is a longer one than usual, but I feel like we had a lot to say.

[00:31:26] Any, any final points for us?

[00:31:28] That's it.

[00:31:29] All right. Good luck out there. I'm going to go, try to get in now, if you see, stop bidding, don't bid against me. Seriously. Just wait til I get one.

 

If we build it, will they come?

Theme: If we build it, will they come? 

• Top collections surge, while most collections move sideways/down
• Active NFT wallets have fallen, despite new platforms, tools, apps
• Long-awaited Coinbase NFT Marketplace has not brought new users
• Building and investment continues in NFT platforms, tools, etc

• Affordable project: Bankless DAO (35k BANK needed for membership - Bankless DAO price, BANK chart, and market cap | CoinGecko )

• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • OpenSea Acquires Gem to Invest in 'Pro' Experience 
    • Genie NFT Marketplace Aggregator Teases A $GENIE Token or Coin 
    • Coinbase's NFT Marketplace Gains Less Than 150 Users in First Day Open to Public
    • NFT Marketplace Zora Raises $50M In Seed Funding  
    • Meet the Dune wizards: The college students, VCs and crypto rebels wrangling on-chain data to help people make sense of the Web 3.0 world. Here's how they got started — and what it takes to secure paid contracts 
    • Nike's NFT Sneakers for the Metaverse Are Selling for $8K - CNET 

 

 

Transcript

[00:00:00] The day on all about affordable NFTs. If we build it, they will come question mark. And I think you kind of know when you're asking, unless it is a field of dreams that is dropping an NFT in your wallet with ghosts baseball players, you might have to work a little harder to avoid that, that, that dreaded sideways motion of your NFT not taking off, but that's our theme.

[00:00:23] What's the news.

[00:00:24] Oh, great. Yeah. Talk NFTs again, George. Good to talk here. I am pulling up my notes. As you made able to tell the, where did I see of tabs? I got them here.

[00:00:40] I have open C acquires gem to invest in pro experience. So.

[00:00:46] Yeah, I thought that this was a good move by open C Jim dot X, Y, Z. We've talked about this one a little bit. It's similar to genie. You can buy multiple NFTs at once. And we'll also accurate from multiple sources. Although I think it's primarily just taking everything from. Right now, maybe some looks where it may also not be taking any from other platforms soon, but I think this is good to a good feature, to be able to.

[00:01:14] Offer offer people looking for a bigger traders that aren't less looking to just buy maybe one or two pieces at a time. They're really trying to move significant amount of money around and want to maybe buy 30 of you know, 30 of a collection at one time or more. So I think it's E it gives them it gives them a lot more tools here.

[00:01:36] I think the other nice thing for them is sort of stops this aggregator from. Potentially becoming a competitor at some point. We've seen how aggravators can grow quite large and open. See, just just acquire one of the, the biggest one right now. Although we'll see how the market reacts. Genie, as we've got here is going to be releasing a token of their own.

[00:02:00] They vowed to stay independent. He has said that he, the founder said that. Ben a pre was approached by open sea as well, and refuted their offer so wants to stay independent and actually be able to work with multiple marketplaces. So we'll see. If that, you know, which model work, it turns out to be more successful here.

[00:02:20] I think it's a good move by open. See, I am a little surprised that Jim had decided to sell there. I think it is, it's good that we've got one that will stay independent and be able to actually work as a real accurate.

[00:02:32] Yeah, this pro experience and certainly for Wales looking to like, look at a market and buy up like a certain type of rarity of a project and be able to do multiple things. It makes a lot of sense, but I gotta be honest in, in the future where NFTs are lift listed on separate platforms. Be it, you know, referable looks rare, coin Bates, NFT.

[00:02:56] Like you're going to need to see a holistic view and bid across platforms to find where the opportunities are. So I, you know, I get it as a, as a feature, but the real feature is being able to look across platforms. And if you're not allowing that, then I'm kind of confused.

[00:03:09] Yeah, I think, yeah, I think that the cross-platform functionality will do big benefit to Jeannie in the long run on here. And actually. You mentioned Coinbase marketplace that has opened to the public has not seen a lot of action quite yet. I got the email that it is open. It was I dunno, I guess I was kind of expecting a little bit more of an event with that, or a little bit more of an announcement, something going on.

[00:03:35] It not surprisingly has not seen a lot of a lot of transactions because there wasn't, I don't know. There wasn't much to get people there.

[00:03:43] The headline here is on its first day. The market floor has opened up and saw less than 150. I'm not missing a thousand. I'm not listening a million. No, no, no. A hundred and one five, zero, no other.

[00:03:57] million people on their list.

[00:03:59] 150 new users sign up for its platform. According to analytics.

[00:04:05] You know, I've been, I've been unimpressed with some of the, the usage of the looks rare platform. It, because it's so incentivized. And that it's mostly washed rating. However, They've at least tried to incentivize people to get there. I'm not sure what, what the impetus is for anybody to go use the claim basin Ft marketplaces right now, besides it being on Coinbase.

[00:04:30] I dunno. It's not proven. It's not great. I thought this was actually going to be in beta for a lot longer. Was surprised to see that they announced it that quickly. And without any apparent fair, fair fanfare.

[00:04:42] I my heart hurts so much because I like, I mean, you've heard us talk about this. I have looked forward to this kind of like moment where a bunch of people will be like onboarded and brought on. And it's just such a reminder that like, you just can't bet on the. bet on the roadmap. You can't bet on this like high expectation of a thing, but this is gotta be below all manner of expectation.

[00:05:03] You know, I've, you know, I've had blog posts do better in a single day than this. This is not a, this is not an acceptable thing. You know, and obviously this stock took a massive tumble as a result of, of, you know, I guess a number of things, the general market, but also on this, and it's down like 30% over the past month.

[00:05:22] But coming back to what I think they could have, I thought was going to happen here is that you already had users using the app and they were clicking in a single experience. They've just created a new destination or you have to go through and upload had they tied it into. The actual app and that experience and bringing those things together, like, oh, there you go.

[00:05:41] But instead they, you know, similar to like Facebook trying to compete with, you know, Instagram, they, you know, didn't end up being able to achieve that. And then he just bought it. They bought the whole software and brought those users in there. But if you're trying to create a whole new marketplace from scratch, simply because you have a branded name, like it's going to take more to your point than that. So Ouch in

[00:06:06] So I don't think there's going to be the catalyst that brings the next wave in which maybe we'll have to discuss a little bit more here.

[00:06:13] I think, I think we have spilled enough ink and words over the expectation associated with the Coinbase entity marketplace. And just going back to the episode, we just had valuing the product versus the promise. And I think we overvalued the promise a little bit, just a little.

[00:06:30] yeah, yeah. All right next. We've got that. Let's see. Another marketplace raised 50 million in seed funding. I think this just kind of goes along with what we keep saying. There's going to be more marketplaces. They keep raising more money. It's not necessarily a single marketplace world. So there's that one this next bit is a bit of a self promotion.

[00:06:52] There's, there's a dune or a, I'm sorry, a, a, an article in business insider, et cetera. Dot com on dune analytics wizards. I was included in that, that article. So I've included that link. I think you should definitely go read it or at least you know, try to, if you weren't a wold from it, but there's a lot,

[00:07:12] quote. What did you, what did you quote in here?

[00:07:14] Yeah. Oh, it is paywall bone. Sorry. I thought there was a way to, to preview it initially anyway. Yeah. What. So, yeah, they, they were asking me about about how I got into blockchain analytics. What were, you know, what is could be discovered there, you know, and that, you know, I'd let them know a little bit how I got into it initially, which was prime will actually do looking into social tokens initially.

[00:07:36] Was doing some, some dashboards for some bounty work and then got really into dune and let them know, you know, how I how much I like looking into it, because it tells you so much more than what you see on these surface level numbers. You know, we know that there is a lot of there are a lot of numbers that aren't quite what they seem in in NFTs.

[00:07:54] So I, I, I really like looking into the. Trying to look at who the wallets are and look at the, the, where those, where funds are moving around a bit, trying to looking at those things, but also look at look at where big collectors are, are maybe moving into next, see what's going on there. So A lot of different ways you can use this stuff, but it's I was, I was happy part of that.

[00:08:19] And I am bullies looking more into those, those blockchain analytics. So fun to be part of that.

[00:08:27] Yeah. it's pretty cool. To be in a, an article in business insider with the title of meet the read the wizards of of dune and certainly your work there, it's like, you just constantly hear it. Like, Hey. The dashboard for this. And it's, you know, part of that, that open stuff. And we'll have the link in the show notes.

[00:08:45] And of course your NFT marketplace, data links super helpful for understanding what's going on. Cool. Very cool. I'd be a little worried though, every now and then someone wants to talk to me about like the NFTs and my wallet. I'm like, ah, did you docs yourself in that?

[00:08:59] Yeah.

[00:09:01] Oh, he's out there.

[00:09:03] Yup. Yup, yup. Yeah. Yeah. There's, you know, it's out there. If you look hard, you know, and I'd say even this this, I, you can put it all together. Right?

[00:09:12] Yeah. Yeah. That's awesome. Congrats. Super cool. Well, maybe I'll have to get some new kicks, some new Medicare.

[00:09:23] Oh, God. Nice segue into the Nike NFT crypto kits. Yeah, for, for A mere $130,000. You too can have digital sneakers.

[00:09:35] A wait that's, that's the premium stuff, you know, but the floor, I think, is down much lower than that, but they, they do look cool. So they, there is a, these came out of the artifact company. This has been part of, let's see, it was part of the artifact. I can't remember the name of the original NMT, but then they had Sorry.

[00:09:55] They had a box that came out of the monolith box that was given to the holders. So then the monolith box was opened and it had these, these crypto kicks along with a vial, the vial, axes, and skin for the for the sneakers. So there's different rarities of those vials to, you know, different look they've hinted that there'll be able to change.

[00:10:15] There'll be more changes to these with, with, with what's coming in the future, on the roadmap, you know but you'll be able to actually make these sort of one-on-one sneakers and be able to print these artifact has done something like that in the past. They did that for punk holders. About a year ago, gave them an option to do a, the one-on-one speaker.

[00:10:34] Each one was actually unique to the punk itself. So I think that's probably where this is going in at some stage in the future. I think there's going to be potential for merging different ones for trying different ways to customize and make it unique. Artifact has definitely one of the leading companies here and I think it's cool to see them actually put that Nike the Nike logo and see that in the in the digital version here.

[00:11:01] Yeah, and it looks like there's like 10,000 items, but they said there's 20,000 total and the floor price is hovering around 1.5 as of right now. So kind of cooling off

[00:11:13] a vial. Of course. So,

[00:11:15] oh yeah. Okay.

[00:11:16] you gotta get a vile to have any, you know, to make them look like anything. So yeah, they have cooled down a bit, but Nike. There are certainly a lot of Nike collectors out there. So we'll see if maybe some of those sneaker heads move over into NFTs. I've know that plenty of them have already.

[00:11:32] I'm not,

[00:11:33] Yeah, it takes up less closet space. So, yes.

[00:11:35] That's right. You can have a

[00:11:37] I dunno. Might be one to watch. Like if, if, if it gets quiet, like I think there's something to be said for the. The first Nike shoe drop and the sneaker head and memorabilia. I, I wouldn't go, I wouldn't attack it at this price.

[00:11:49] No, not in this environment at that price either, but I think there is maybe an entry point that that makes sense there. Because I think artifact is a, is going to be pretty, I don't know, a big company. Fashion NFT space and fashion being that the way that Nike is fashion. And so I think, you know, being able to add Nike's anymore, just that swoosh is a huge, a huge benefit, but also the, the the collector base that comes along with Nike.

[00:12:17] I think that that could be very beneficial over time.

[00:12:20] I just put it on my watch list. So if it gets, gets us somewhere interesting, better believable, bring it to the project. All right. If we build it, they will come top collections, surging, but let's just be honest. Most collections. When you say most like 99% of projects, sideways or down.

[00:12:38] Yeah. And I, I said sideways, you know, it's tough to say, you know, day to day exactly what it is, but you know, if they're not moving up anyway and they're, they're, they're, they're moving not much. And that's what we're seeing. I think in, you know, more recently we've seen some downward price movement and maybe that's even across the board for the law for a long time, we saw that the games were primarily in those board apes mute Napes You know, I'd say in a Zuki, we've seen him run in the doodles recently, but really everything else needs sort of mid-market the affordable NFTs or even not so affordable NFTs those next year.

[00:13:18] If it had, there's not a lot, not a lot happening there. And, you know, despite this sort of these record volume days, it's not spilling over to, to lower volume projects or lower priced projects.

[00:13:31] I feel that's because some of these large mega drops launch projects of moon birds, and the other side, you go lab stuff and they just sucking all the oxygen out. Like, look, there's a handful of users, right. We pegged it at there's like under a million there's 350,000 active wallets, depending on what you're looking.

[00:13:52] It's only so much, frankly, ease that people have running around with. And if you're dropping it all into these projects.

[00:14:00] and sucking it out, is it like at a certain point you've milked the cow too much, like what's going on.

[00:14:05] I think it's some of that. I think it's also that you see some of these, that the best projects, the best collections launching. More collections, printing more, you know, making more NFTs available. And while they, while they initially released with a, you know, a 10 K hard cap or, or maybe even smaller, you know, they've realized that, well, we could just make a second collection and that second collection may have twice as many.

[00:14:32] And we're seeing that oftentimes that second collection has a lot more a lot more pieces. So it's getting a lot more people and ability to get in at a lower price that becomes. You know, an alternative to maybe the, instead of getting the second or third or fifth best project of, of that category.

[00:14:50] You know, maybe if it's you know, some sort of a race car play to earn thing. I, you know, when you want, you can instead just look at the best one. I'm not a, it's not a real world example, but instead of looking at, you know, looking at the, you know, 17th best PFP project that is basically following the roadmap of.

[00:15:08] Of, of merge of eventually we'll have a metaverse we'll do another PFP drop. They're just doing the same thing that the biggest ones are doing. I think you're going to see people just move. Try to move up a little bit by being in, by, by being in a related collection to the best projects. Instead of being with the competing project that probably isn't going to be able to overtake those leading collections.

[00:15:33] So, And your active NFE wallets have fallen despite new platforms. And so

[00:15:41] yeah, I shouldn't say as a new active wallets is more, I knew. Yeah. Not onboarding as the pace of onboarding has slowed.

[00:15:51] Yeah. And we just talk about that with the long awaited Coinbase, NFT, we talked about it so many times there's 4 million people on a wait list. Like that had to mean something, but actually. Maybe you come back around and say like, let's just people clicking buttons on, you know, on the Coinbase app. And you're like, yeah, sure.

[00:16:05] I'll join a wait list, click click, fine. But it's not really customer acquisition in the way that we thought it would be because those customers, if they want it NFS probably already want to gone and did it, but it wasn't the that smooth transition that, that we were hoping for. It just, Hey, you know, it just, it really took some wind out of the sales and this is going to be.

[00:16:25] This is going to be a very careful time for ed say, throwing money around on an is like, continue to do it, but I'm being very, very judicious on it. There's no sort of like, there's no longer this, and then that's going to happen moment. I think this is just grind, slow and steady over time.

[00:16:42] Yeah. And I think this is where we're actually going to see a lot of projects die. A lot of these, these projects are not going to make it. People are going to become less interested. Maybe it's part of that, that, you know, oh, the realization of, oh, this is actually what we're building and people realizing, well, you know, that's what it is.

[00:17:01] I'm not, that's not what, I'm what I actually came for. You know, there's going to be some of that. That could be some of the sort of consolidation that we see here getting rid of a lot of the extra. And hopefully we will see some, some big winners that, that do come out. But yeah, I think you're right in being wary of of buying new NFTs right now.

[00:17:20] Yeah, that's it. I'm I'm now I have a, an investment thesis that like kind of, you know, continue to evolve and share here, but there are still like, you know, opportunities. That then get presented under priced assets, especially when enough people get bearish and enough people are looking the wrong way, right When everyone's looking at the shiny object over here, that means there's a whole world over on the other side. And then you can evaluate the, you know, going back to our previous episode, the value of the actual product, as it sits as a piece of art or as a game token piece in a stable game, or however you look at that versus promises, cause like most of the promises dry up, you can then maybe assess that and say like, Hey, what will the next phase.

[00:18:00] It's not going away. It's going to go through cycles. Those cycles are going to be faster. But the other issue I see is a little bit that I, you know, I used to play poker online and in the early days it was pretty easy to win money because the players weren't good when you're playing against uninformed markets and people you can do disproportionately well, But when you start to play against people that know their stuff, you, the edge gets taken away.

[00:18:29] I'm feeling like maybe that might be happening in a, in a tighter market where you don't have that many new people coming in with new ease. Not that like we're competing against each other, but if you're playing the like value and slip game, like as the market gets tighter and smarter, like projects that are full of.

[00:18:44] That, you know, if they build it, they assume they will come because there's just general users being ready to throw around things and not do due diligence and not care about the team and not sort of check what's going on. Like you just have to be more and more buttoned up. So if you build it, they won't come.

[00:18:57] You're playing in a game with much more sophisticated players. As of right now.

[00:19:02] there's not 4 million suddenly new wallets that came from Coinbase. So that means, you know you got to step up your game when you're playing with better.

[00:19:09] Yeah. Yeah. I think the market has definitely changed. People are more knowledgeable, there's more tools available. And when the the rate of new people coming in slowly. It's a, it's a bigger problem.

[00:19:23] Yeah. So if you build it, they will not come where we're here. So we're, we're trading around our. images with each other. I do think there's value. I am ever optimistic, but I'm just going to figure out what the, what the next play is. All right. Andrew. Thanks for bringing this to us.

[00:19:37] All right.

Valuing NFT Products vs Promises | Project: The HUG Pass

 

 

Theme: Valuing products vs promises

• NFT projects often have roadmaps full of promises, and often prices rise in anticipation of what’s to come
• Once products are released, such as Cooltopia from CoolCats Beanz from Azuki, prices often drop as holders realize there’s not a huge catalyst to come
• Many public companies have used ‘metaverse’ and ‘crypto’ in the same way
• Affordable project: The HUG Pass - Collection | OpenSea
•  
• NFT News
  • Rantum NFT Market Data,  Cryptoslam.io
  • NFT Headlines: 
    • PGA Tour to partner Sorare, Autograph for golf NFTs - Ledger Insights - enterprise blockchain 
    • The Latest Ethereum NFT Craze? Four-Digit Numbers - Crypto Briefing 
    • CoolCats scouting for new CEO 
    • Binance to Help Finance Elon Musk’s $44 Billion Twitter Acquisition Bid 
    • https://www.benddao.xyz/ airdrop, Hop Exchange airdrop

 

Transcript

[00:00:00] The day and all about affordable NFTs. We're talking about the idea of valuing the products versus the promises usually promises in the form of roadmaps. Great things will come when, when moon, when game. All right, Andrew, what do we have in the news?

[00:00:21] Oh, sorry. I'm still looking through roadmaps here. I am so excited about these, all of these things to come, and this is going to buy everything up.

[00:00:30] Well, many road maps.

[00:00:31] Oh, right. Yeah. Let's see in the news. What have we got here? Let's see. Oh, that's right. We've got the PGA tour. They're getting into business with so rare in autograph, the Tom Brady platform on social rare, the very popular company behind some soccer cards. So. I think that we had heard a little bit about this before, about PGA tour exploring this sounds like they are making that leap.

[00:00:58] So I think we have also talked about in the past, I think sports are up to any great gateway for people to get into this and great exposure. So I think that is what we're seeing here. So good to see. Not real big not a whole lot to discuss there.

[00:01:13] I just interesting to see how the different sports gravitate toward a different different platforms. And. You know, autograph trying to carve out that, that sports battle, you know, I see some others in there, you know, where we've mentioned the, the Gary V the, the sports pass. There are, you know, constantly like new layers talking about like, you know, which platform you're gonna go with.

[00:01:35] And there's definitely, like, as we talked about in the last one, like layer ones, vying for the, Hey, come over here or platforms, Hey, come over here. And there's still a lot more sports to be had. I know.

[00:01:45] Yeah. All right. Oh, this is one. This is interesting. This came about quickly. I think you posted this one shared this one with us. You want to.

[00:01:54] So the latest theory craze. So coming those ENS numbers, email addresses, I'm embarrassed. I still don't have one. Looked at it, but we talked about like, would it make sense to go buy some ether dresses, but recently this craze of four digit number Ethereum. So, you know, 8, 6, 7, 9, or a 5, 5, 5, 5 dot eith.

[00:02:18] You realize that when you buy a domain, ENS is also going to.

[00:02:21] be opening up sub domains, which means if you have, you know, board 8, 8, 6, 7, 5, you could get, you know, eight. That digit number, as well as moon bird dot or whatever, the blue chip I say in quotes and Ft that you have as a domain, right? Cause you can then set those up.

[00:02:42] And so it became this whole branding brand brush where people buying up all of those digits, which drove up a hilarious amount of sales, the floor price for four digit again. Hovering around 0.5 Eve, but let's certainly lower before a bunch of people realize that subdomains exist.

[00:02:57] Yeah. I think it is, you know, I can see the convenience of if you have one of the, the only 10,004 digit numbers, you know, it is easier to remember, but you know, there are, there often are other names that you can use that are. give me not as easy to remember as four digits, but maybe more meaningful a, you know, like a word.

[00:03:16] And I know there's a lot of talk about computers can always recognize the numbers, no matter what language you're in. I'm not sure, you know, based on my experience with writing code, there's not a lot of worry that. Letter a lot, a lot of concern on my part that the letters are going to stop being recognized anytime soon, or that most code is going to shift away from the English language.

[00:03:42] That's the way it is done. And I see it kind of trending more and more towards that overtime. So not too worried about letters going away and it plays up numbers overall. So it is interesting. I think it's kind of a trend. There's a nut, there's so many options out there, you know, as you can see with dot coms, we don't see that.

[00:04:00] 1 7 3, 2 it.com or it, maybe that is a great one, but I don't think that most number four digit numbers are, are really highly valued.com domains.

[00:04:12] I go get, I don't want to even say it cause someone will scoop it and try to sell it to me. I'm not not saying anything about any domains I'm thinking about, but I'm going to buy some units. I'm going to get around to it. Cause it seems like who knows, you know, what, what begins to go next? And yeah, I

[00:04:27] Yeah, that is one that we've mentioned in the past. It's when to do, when gas is low, the price for these is I think it's 0.05 or something. It's the price is very low per year. A point a one, I think it is for anything over four digits. The, and you can do a few years at once. The, the gas is often the most expensive part.

[00:04:47] So watch that gas, if you are going for any ENS domains,

[00:04:51] Yeah, for sure. I gotta say like hats off to the ENS app because I'm on there right? now. And it shows you ease plus gas. Like it's so transparent and by the way,

[00:05:03] Not just in your wallet, on, in their app, they actually tell you this. It's it's great. It's great. It means they're actually even telling you what gas to use and it's an accurate amount of, that's often an issue that the gas is you've been estimated correctly by the contract. This is showing it to you ahead of time making it very transparent, how much you're paying and not telling you at the last minute, when you're one click away from, from accidentally hitting.

[00:05:30] Yes. Oops. By the way, gas is going to cost you to eat right now.

[00:05:33] Yeah, sorry. Yeah. I mean, hilariously a gas right now.

[00:05:38] as I'm speaking $6. So like, you know, reasonable.

[00:05:44] Yeah. Yeah. Yeah. I'm going to go, try to guess what, what George is about to buy.

[00:05:49] I just bought it. I bought mostly stable that. And because gas was so ridiculously low, I was like, I got to go. So I'm going to be mostly stable

[00:05:58] He knew I was gonna

[00:05:59] I, yeah, I can't trust you because you would do it for the joke and I'd have to respect the heck out of you for doing it. And then I have to pretend like I didn't want it yet.

[00:06:06] Secretly be frustrated. So I know, I know the game I'm playing with you.

[00:06:09] Oh yeah. You play like, no, no, no. You want to just let that expire.

[00:06:13] Well, anyway, what do we get here next on our news list? We've got, oh, cool cats. Yeah. I think this is kind of funny. For full disclosure, I do have a cool cat. I've had it for a long time. But they are now scouting for a new CEO. They're using like eight. It seems like they're using a very, I don't know what, like exact search kind of firm.

[00:06:36] It seems very not the way an NFT. Companies should be finding their CEO. I don't know exactly what the right way is. Maybe this will end up working. It just seems so traditional to go that way. And if you can't, there's,

[00:06:52] there's a relatively small number of people that could understand NFTs enough to to, to bring this product, to turn this project around. I'm not sure it's about. Not already in the web three space, but maybe that's what they will end up fighting. We'll see where it goes. Yeah, I'm still holding that cat.

[00:07:08] You know the prices have come down a bit, the funk bounced around last night. Well, I think there were about five and a half floor, so, so they that's one that they have the prices really come down after they released their project or the product. I'm sorry. So we'll get, we'll get into that a little bit more.

[00:07:23] There's a reason I, I left that in or put that in the news here.

[00:07:27] Yeah, it's interesting. You realize that, you know, these, you know, NFT projects are actually, in some cases when they have this type of, you know, bankroll behind them, kind of like tech companies, right. As much as we want to pretend that this is like web three, all new, like, and some level, this is a tech company.

[00:07:43] And if the company isn't performing based on the stock price or the, I guess, floor price, then maybe, you know, you, you have to think about how a CEO can come in and drive value for, for stakeholders, shareholders. Hold their holders.

[00:07:57] Yeah, absolutely. I mean, it's, you know, if they are tech startups in many ways, you know, and it's a different, just a different realm of, you know, how they're trying to make it successful. It's not, it's, it's, it's shifted not completely different. I would say.

[00:08:10] This next article is hilarious. I think if I had read this title a year ago, I'd be like, what is going on in the world and Binance to help finance Elon Musk's 44 billion Twitter acquisition. You know, I don't know what to make of it. I I'll be honest. There are a number of things that concern me about Binance as a network.

[00:08:30] And I don't know if I would choose it as a backer or a part of trying to turn Twitter into what I think it could be, should be for, you know, connecting the humans. But I don't know. What do you, what are you seeing? This one?

[00:08:46] Yeah, it's an interesting group. It looks like this was, I don't know how exactly is now, but it looks like it's Sequoia, capital fidelity, Binance. Some others involved. Let's see bill Andreessen Horowitz has got 400 million Binance with 500 million. Clay was 800 million. So they had to bring a lot of money together here to get this, to get this deal done.

[00:09:11] And there was a lot of talk about how that was going to happen and finance you know, finance has come in to other projects or to other other deals with a lot of money sort of out of nowhere. It's not always, I would say it's not often everybody's first choice but they do have deep pockets and it's probably better than some of the alternatives, especially as people are more aware of, of where that money of where some people's money's coming from, there are definitely various Let's see, I dunno, investment firms that, you know, I don't think would be suitable for this in any way.

[00:09:46] I'm not sure if finances am I correct in saying that they already own Forbes or they own a significant chunk of.

[00:09:53] I think that's right. Yeah. I don't know what, what percent of it but you know, getting back to like why we care about Twitter on a NFT podcast at a high level is the obvious integrations that they're already doing for verifying. Profile pics. It is the use case of profile pics in the web to web three layer bridge.

[00:10:13] And so, you know, paying attention to how I guess NFT friendly investors might be is is of note and, you know, things like doge coin pumped as a result for a small period of time and questions of how Twitter is going to make that migration towards it. You know, when, when Elon Musk changes his Twitter profile to a board just to like, make a joke and then come back, you know, prices, skyrocket, speculation goes wild and now even more.

[00:10:40] So I think his, his power to like make a joke, manipulate a market and maybe drive you nuts or thrilled, depending on what side of the trade you're on is only going to increase. And so I think we're going to be talking a lot more Twitter when it comes to that.

[00:10:54] Yeah. And you know, to be, I think it's still the number one communication platform for, for, for NFT collectors at this point, you know, none of these messaging platforms that I've seen have gained any real traction. So

[00:11:09] This court decide, which is a uniquely different type of

[00:11:12] Yeah, right? Yeah. The publicly facing one, I would guess.

[00:11:15] It's yeah, it's more private discords even if they are publicly available, nobody's just stumbling onto them. You've got to, it's an act. It is, it is active management dealing with this court.

[00:11:29] When are we going to get a better NFT, friendly discord? Like there's enough money for it,

[00:11:34] That's a good question. Yeah. Are we

[00:11:37] Yeah. I mean, that is some of the stuff that I hope that, you know, we start seeing built because it is it's really overwhelming whelming to, to deal with this court. It's not really meant for this. I don't think that anyone should, should be in dozens and dozens of discords and have that be as the only way that you can keep up to date with.

[00:11:57] These projects, you know, either that, or I guess hopes that they post it on Twitter and you're able to find it there. I mean, it's, it's really difficult, you know, most of them do not have a, there's not really a open communication protocol for web three.

[00:12:11] I'll make a prediction for one year from today, there's going to be a very strong NFT first discord, that competitor that there has to be. Every time I clicked to authenticate my wallet from a third party app and then bounce back in I'm like, if you don't think this is a massive security hole. you don't understand how the internet works.

[00:12:33] Holy cow, I always get nervous every time I do it. And I'm like, I double check the URL. I'm like, I'm clicking this button.

[00:12:39] from discord to another app. Then verify with your Metta mascot's extension on your browser, but yet

[00:12:50] Where's the

[00:12:51] holes here. I don't see any flaws, but

[00:12:53] Air tight. That's an end to end encryption except the no, no, that's the opposite of end to end encryption. Yeah, there's a couple issues with that. I feel

[00:13:03] Yeah, yeah. That there's still some problems there.

[00:13:07] again, see your episode about running around the internet with a hot wallet. Just be careful. Leslie want to mention here? A couple of airdrops the Quincy Bendel is an NFT liquidity platform. So it has, they have an airdrop right now for people that have been active on open sea, then I don't know, there were a few different ways that you could qualify there. So. Worth going on and checking that's bend Dow got XYZ.

[00:13:34] You will have that in the show notes and also hop exchange. That's a exchange and bridge protocol. They just also announced an airdrop. So if you have used that one at all, it's worth checking there. So these are things that we've mentioned. We've mentioned the past. Things to keep an eye on. See, I think we're going to see a lot more airdrops coming.

[00:13:55] So if you haven't taken a look at some of the, the various lists of airdrops potential airdrops come in. I think we've got that in a note somewhere, but worth revisiting and and trying to, to qualify for some upcoming airdrops too. I think it, I don't know. It seems like these, these seem to come in batches and it seems like airdrop season is here.

[00:14:17] Yeah, well, it seems like there's a limited amount of projects that they're airdropping for like UGA specific, but you're saying other ones will show up.

[00:14:26] So there were, so you've got to go to the, yeah. Well, there's this there's a flash came right. This flash claim right now for you guys. And they have the bend airdrop, which rewards both for what you hold, which is some top tier projects like board apes and then also for open C activity. And I, it, it was

[00:14:49] Ooh, I just claimed 675. Ben I'm rich.

[00:14:53] all right. All right. I don't know what Ben is going for, but yeah. It's if they promise the

[00:14:58] money on the

[00:14:59] they, they promised huge amounts in the future, then are a huge of rewards in the future.

[00:15:05] I can stake it and they're in 200% on something. I don't know the value of I'm in it.

[00:15:10] Hey, he may as well. Right.

[00:15:11] I think so. All

[00:15:13] All right. Well, that's all our news. I think we've got a project. What do you have for us, George?

[00:15:19] We do. I got to shout out this one to the what did the JPEGs no, I, how am I blanking on it? The priceless, overpriced JAG, overpriced JPEGs podcast, where I heard about this one, the hug pass and the founder Randi Zuckerberg. You'll recognize the last name as in sister of mark Zuckerberg. And this project is the hug pass collection, which is a community focused on finding and supporting female led NFT projects.

[00:15:55] They have an incubator they've got, you know, sort of active discord and a promise of this community to grow over time, to be a friendly, welcoming place for the sort of the next. The next holders, people getting interested in NFTs. It is a, you know, kind of cartoon style, I'll say, but this is part of that sort of membership utility.

[00:16:16] We, we keep coming back to these pieces where we see membership utility being a safer place to bet the current floor of these, I believe is it. Point zero eight. So certainly affordable. I would say they're doing a phased launch. I think there's going to be 15,000 in total. They've launched the first, I believe it's 5,000, right?

[00:16:40] 6,000, sorry, 6,000 right now. And then yeah, there's going to be 15,000 total. So there's going to be more phases of this. They're offering sort of the, you know, the common things you'd expect of future perks either. I'll come back to the founder though. Randi Zuckerberg. No. She spent 10 years at Facebook.

[00:16:56] She knows her stuff. She's like, certainly on the artistic front, you know, done things as a musician, she's been on Broadway and produce things. She's run groups and teams. She's like kind of been bitten by the NFT bug. It seems and out she tends to do things at, at a high level. Proficiency. So, you know, that's kind of like when a, why this membership versus another one I've already explained in a previous episode about my my investment bias, probably toward a female led projects.

[00:17:27] As you look at, you know, who the next million people joined. And FTE communities are going to be and purchasing. So, you know, I think there's going to be good alpha on if you're, if you're in that community the next, most successful female artists leading an empty projects.

[00:17:44] Oh, yeah, I haven't, I've not looked into this one too much yet. I know you've mentioned it in discord. So I've been meaning to check it out. I'm going to have to go look into this a little bit more.

[00:17:53] Yeah. Some something to look at, but I, I liked this one. I've full disclosure. I don't have one. I am watching the, watching it and pretty soon I'll be able to announce that my, my new beef address works just in case you want to send me a tip at any point, because it won't be alphanumeric. I'm going to get a really NS address.

[00:18:10] There you go. All right.

[00:18:13] Alrighty. Okay. So that's the project next up our theme.

[00:18:18] Yeah, let's get into it. Yeah. Or should we just promise that it's going to come later and keep

[00:18:23] we're going to get to it. We're going to, so we have this whole. And so how do we value a product versus a promise? What are the difference between those things and defining them? And just at a high level, roadmaps are paved in promises, things we will do develop come up with in the future. And that is essentially what drives a lot of price speculation.

[00:18:48] Now, this is not unique to NFT. Anytime you look at the price to earnings ratio of a stock, you were about to buy. That is what people are doing. They're betting on the multiple of how much they think in the future. This thing is going to be valued at there's something different though. I feel like with NFTs, You know, the there's the actual product.

[00:19:09] What I get today, you know, is it the value of the art, the access, the game play the community, right? Because you obviously need a new discord channel, like, you know an extra hole in the head. But that is kind of how I see this. How do you look at the idea of valuing the product versus the promise?

[00:19:28] Yeah. Well, I think it's, it's, it's tough to knit desolate value right now. I mean, I think right now we're seeing that promises are, are valued much higher than the actual product. It's, it's, it's almost like being a pre-revenue company in the more of the.com or the web to sort of landscape. You know, if you don't, actually, if you can just say that it, that you've got this huge addressable market and that it will be big once you are trying to actually get revenue, that's a lot easier than actually trying to get the revenue and.

[00:20:00] Not being able to get it. It's a lot easier to draw that line. And it seems like that's sort of what we're doing as you know, as collectors right now is that we're saying like, whoa, they're talking about building a metaverse let's, you know, let's buy this up to, to eight E and now it's here. Okay. Let's get sell down to three, Ethan you know, an example of this recently, and it's not as like metaverse, but cool cats mentioned this earlier because they, they had.

[00:20:28] They've got a game out. It's not even their full game. It's actually just the sort of reveal for the cool pets, but it took them a while to get out. And they wanted to make sure it was done. Right. And you know, maybe that was, you know, they, that was part of it, but it was somewhat slow in the release. It is there it's usable.

[00:20:46] I have checked it out. It's it's got great graphics. It works well. And the country, the price continued as light, especially for those cool pet. I've seen the, I think the price is now under well under one eith. And you know, that was something that was up at over one and a half or for some considerable amount of time ahead of the game release.

[00:21:06] Once it's here the price has dropped and you know, there is something right now to. Thinking that these problems that are going to be much bigger than they are. And then when they see what is actually developed with the product, it's a little bit of a letdown, I think. And you know, it also stops people from saying, well, that next thing is going to be what, what really provides the catalyst for the price to move here.

[00:21:29] So important to see that, because I think, I mean, both of us, I would say maybe. I will say from the I perspective here, I, when I currently, you know, look back at where I was like last year as a collector, I overvalued future developments. I thought that, you know, that, that new innovation, that new game would just be the thing that completely shifted the value proposition, as opposed to the reality, which, you know, oftentimes they have to build up expectation in marketing.

[00:22:01] It's their job. They need to drive this hype. In earnest, like that's actually a really bad way to try to build a game or a tech or product feature. The ideal way is to find a small group of customers, build it slowly, manage expectation and develop over time. You know, the idea that you're building in public works for some things, but in other cases, it creates this, Hey, Of production saying like, all right, this next one is going to be the product that changes everything.

[00:22:34] And it's all on this next launch. Trust us, save to this date. And you know, the existing market, I think, is getting a bit wiser. And I think some of the reason maybe that we have some winners winning extremely right now and some long tail there is that. That ability of a smaller project to say, no, no, no, we have this, this next development coming.

[00:22:55] And that's what our evaluation is based on. People are beginning to realize that like, even when it shows up, like how good is this game possibly going to be? How will that actually help the value of the product? Right. Cause that's what we're talking. The value of the product and how will that increase?

[00:23:10] Because the thing doesn't generate revenue the same way. If I'm going back to the PE ratio of a company of saying like, oh, we're going to add this new feature, which by the way, generates revenue sometimes. Yes. Sometimes no, if you're talking about internal tokens and pieces, but it's becoming to me more important to value the burden, hand the product.

[00:23:31] And, you know, we, we keep bringing these up. These projects that have the community value saying, all right, here's like the membership, which ironically your, your value, this is more stuff being dropped to your opportunity in the white list of new projects. But there's, you know, that's, that's something I can, I can count on, you know, that is a bit more.

[00:23:52] And then prior to that, you know, we were looking at. The product verse promise the product of access to certain things like w GMI a Wagner, right? W G m.io, which is able to track our portfolios. And we're like, all right, cool. There's a use. I get the product right now while they may promise things like I can use it right now.

[00:24:13] So would you say you're beginning to have a bit more of the bias for the product, or are you just trying to get savvier on the roadmap, paved and promise.

[00:24:21] I don't know that I have a bias towards the product. I mean, things that are. They're good. And being used, I guess, you know, there is a, maybe I'm looking at those in a different light now and, you know, hoping that there is some BI-LO opportunities because it doesn't seem like the market is currently valuing those.

[00:24:40] I mean, it's maybe it's, you know, we're, we're valuing growth more than we're we're valuing the that's where we're, or I guess we're valuing expected growth and There are tools, like you said, that are being used. There are products that are coming out of these. And right now that isn't I dunno, it's not good for the price, but maybe those are worth looking at in a different light and saying, you know, I think that this is going to change at some point and people are going to realize that That those promises are somewhat empty, not leading anywhere.

[00:25:11] And that some of these other projects are actually developing things that are in use and, and don't look like they're just going to go away because the price drops in other collections.

[00:25:21] Yeah.

[00:25:22] maybe another way to say I'm beginning, I'm becoming more skeptical of roadmap promises that are essentially wall-to-wall. We're going to build an insular little world where these things can operate. And finally, you can, you know, go on to this, you know, very basic gameplay and watch your thing tumble around, like, okay.

[00:25:42] Like, just be honest, like, look at your current uses of the internet of games. Like what kind of games do you actually play right now? And how does that really map to something that's like, all right. Here's like an adventure game where you can like wander around and like, do I, what I do that. Would others do that with the people holding this and valuing this, do that?

[00:26:03] Or are you just creating something? That's, that's sort of out there. So I get nervous with the walled garden and, you know, public companies being like, you know, we're going to build our metaverse and everyone's going to come here as opposed to elsewhere. I'm more attracted to. The way that they're integrating with other projects with it, they're opening up and delivering value you know, in, in ways that can connect to, to other players in other ways.

[00:26:28] Yeah, I think that's a good way of putting it. You know, in general, things that are looking to build more and not necessarily say, like, come here and this'll be the end of, I don't know, this will kind of be the destination. That's I dunno, that's expecting a lot of your project and people to, to react in that way.

[00:26:48] I think what we're seeing. Most of the most successful things are really bringing together projects that are bringing people in projects together in different ways. And not necessarily this is going to be the end ecosystem. Although I guess the the, the AP ecosystem is, is the, the big example to that.

[00:27:08] And it's hard to argue with their success so far.

[00:27:11] Well, see, you know, like I think, you know, we're a year into the adventure and it's, it's grown very quickly and a lot of the sort of, you know, success of overall NFT. And some narratives are like, all right, it's hanging on. You go to the largest player to like, get, get this right. But, you know, we have a towering roadmap of promises of things that that will be built, but there is the inherent product, which is almost like this cultural symbol of, you know, access elite.

[00:27:45] Tastes type of brand you like you're buying a Gucci bag. Like what did you actually buy? You bought a bag with a Gucci logo on it. And sometimes that it is able to, you know, Polish and promote this brand in such a way that like the sheer fact of holding and owning it is, is the, is the narrative. And I think, and a T's have probably done the best on that idea of product value, the brand, the social proofing.

[00:28:11] And showcasing of, Hey, look, you know, I was smart and bought this thing at this time, but there's a, there's a lot more to be developed. And then, you know, inside the game world, I have more and more experience playing and watching and FTE games go through life cycles. And it's brutal, right? The current question in the, the peg Etsy world, it's like that, the price of this, if you want to, if you want a funny joke, like take a look at that, that price it's like, well below 1 cent now, And the hope is that there is in their roadmap, which is, you know, fully, fully mapped that there's there's a killer feature coming that will like turn things around.

[00:28:50] I'm rooting for it. You know, I'm, I'm still on the platform, but, you know, it becomes, it becomes hard to say like, all right, if your core fundamentals right now aren't necessarily working, like will a killer feature necessarily fix that, maybe. I actually have a question for you. Have you ever seen a project that was had launched right. Maybe had a good launch then went through that low, right? That, that post-launch low, like the price taper down kind of hovered and then launched a new game feature drop or something. Then brought it to the next level, besides I'll say board aches, right?

[00:29:27] Because the Nutanix and everything, the syrup like serum, everything needed to sort of work. Does an extra drop. Have you seen another project where, oh, you know, the, the roadmap delivered and suddenly the price responded and like, oh my gosh, this is the.

[00:29:39] So as he started saying that one example that comes to mind is the project recently that we've talked about. Yeah. A couple of times recently and they have a discord and they'd say, I don't know. They, they give a w w I don't know exactly what you call it, but about five different NFT reports each week.

[00:29:59] That was one that was down. I understand it like a 0.05 or even under floor at one point. They've been launched with this idea. Of providing value to the members in the way of, you know, making it an alpha group and getting information about different projects. Last, I looked the floors back up over 0.7 and they have plans to launch a, a new 10 K PFP from that.

[00:30:25] So that, you know, it's a much different scale obviously than board apes. It's still a big turnaround from 0.05 to 0.7 ish. And that is one where they actually launched with, I don't know how the, I, sorry, I should say, I don't know what the plan was when they launched. I know when they relaunched, they actually had this roadmap of, of trying to make it into an alpha group.

[00:30:46] And it seems like it is succeeding there. I can't think of. Yeah of a larger project that has been able to sort of revive itself or turn things around on with the launch of a, of a, of a game or a project like that. You know, most of these, I would say, have we seen a lot of projects that have released more you know, released a new collection or a new game and.

[00:31:10] And drop governance token a, you know, like an extra piece

[00:31:14] But that's. Yeah, I let's see. I mean, so cool cats, you know, that's, they've at least things that they, you know, they've had this in their roadmap and it really hasn't worked out. So then we've got something like a zookeeper. The zoo you with their beams. That seems like it wasn't, I don't, I know they just had to reveal for those beans today.

[00:31:35] I don't know what their reaction is, both in price or what people are saying, but I know people are disappointed with the deans initially. And it seems like this one where, you know, they, people are much more excited about what is to come in the future then than what is actually here. So that's, that has not worked out

[00:31:51] a women had a similar launch where they had a new drop and like people were underwhelmed the price of. Maybe art box, like, is that a comparable, but that's more of like these like networks where they're just like, here's our ecosystem. People, artists are going to launch like.

[00:32:06] Yeah. I don't know that. I would say that that's a. I don't know. I'm not sure that I I can think of many like that. You know, it is tough and, you know, that's, I think it's something to keep in mind is, you know, how how maybe fickle collectors are, and they will move on to the next thing, if it doesn't work.

[00:32:23] And I don't know that they're often coming back because the, to that project to give it much of a chance of success, you know, right now you've got either get it right away, you know, get success right away, or it's going to be a tough, tough battle.

[00:32:35] It's an important note that it, you know, we had to struggle so much to look at it and. Section is a exception is not the rule. So if you are sort of waiting or betting on like a project with you know, th the killer feature, the killer roadmap promise, you know, just look back as to like, when in the past, has this worked for a project to, to revive it.

[00:32:58] And I think at this point, I've like, I've, I've watched enough roadmaps kind of go through and I've watched the price response. And the price response is always heavier on the expectation than on the executed delivery. I have to say can't happen, but gambler wise. Hmm. Interesting.

[00:33:14] I agree. I would say that most most of these, most of the time, it'd be better to sell the, sell the news or even sell the rumor then then hold through it. Unfortunately.

[00:33:24] Alright. Interesting discussion. Thanks for sharing that. So you out there.