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Aster cooks, ApeCoin on PRJX, & Rekt Energy on Coffee w/ Captain #994
Recorded: Sept. 24, 2025 Duration: 2:08:12Space Recording
Short Summary
The crypto community is buzzing with excitement over the recent partnership between OpenSea and BZ, which introduces a groundbreaking claw machine featuring $100,000 worth of collectibles and NFT vouchers. This innovative project not only enhances user engagement but also signifies a growing trend towards gamification in the NFT space, promising new yield opportunities and driving growth for both platforms.
Full Transcription
I I'm on web 3. And it is what it seems. Topping the pyramid schemes, I'm telling you. I'll sell you a percentage on Nebula. Shout out to this, yo, set it up.
Surfing on the web and I'm shooting at 3.
I've been golden when I got my tea.
I'm an alien.
Boy, from a different planet, yeah.
So I got my drink, I'm right.
I'm a fan of the world.
I'm a fan of the world.
I'm a fan of the world. Outro Music Yeah, I like that one, I'm about to get that, crash that whip for the drumsticks, whiplash, I'm about to get them all, are you whiplier?
In a white boat, surrounded by blue, I want one, but I got a cop too, I wanna fly high
in the sky, arms out wide, tryna soar, you're my bird type view.
I'm on fire, Ricky, Bobby, cracking the pavement, Whitney, Bobby, I'm a Saki, bomb, Hiroshima,
Nagasaki, Bruce Wayne been a dog, and I keep it 101, cause I'm feeling kinda spot I'm so excited. I'm so excited. I'm so excited. I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm so excited.
I'm excited.
I'm excited. I'm excited. I'm excited. I'm excited. the pyramid machines, I'm telling you, I'll tell you a percentage are nebula, shout out to Vince, yo, set it up.
NFT, Twitter, blockchain, CM with the ghosts and we balling like the brown jay.
Crypto, crypto, we can make a trade, get the memo, but feels not falling for the FOMO.
Listening to coffee with Capri, you know we worldwide ain't loco, I ain't never gonna stop rapping.
Orlando, yeah, we working magic' magic You rockin' your theory and me the teeth
I just went and caught me a hat bass
Man, I gotta shut up the 40s
Now I got coin, coin
I see where y'all goin'
Been poppin' since web 1
Hella ho, gone web 2
I was livin' the dream
Now I'm on web 3
And it is what it seems
Toppin' the pyramid schemes I'm tellin' ya And it is with the seams, topping the pyramid machines,
I'm telling you. I'll sell you a percentage on Nebula. Shout out to Vince, yo, set it up.
Breaking the mode of truth is mine, but it got knowledge of mood, son. I'm shocking in shades
with my brother in shoes. Yeah, them blues is coming. Even though it's hard to pick,
any mighty mo. Soda on the mix, no biting lips. It's time to go. Get next number one,
no thumbs up, you gotta scroll. Looking at the ghost in studio. It's time to go.
Had a helmet on by myself until I met a mask that wouldn't have a face off.
Had to bring my chainsaw full ticket gas and a drive with my brakes off.
I'm a one, but a different kind of steak sauce.
Welcome to Coffee with Captain, powered by ApeCoin, where we dive into all things crypto,
NFTs, Web3, and cutting edge web-free, and cutting-edge technology.
Remember, nothing here is financial advice.
Early-stage tech can be exceptionally volatile and risky.
So grab your coffee and join Cap and Steve for today's conversation.
Welcome to the future.
Welcome to Coffee with Cap, and my name is Steve.
I'm going to be joined by my co-host, Von Fronten here.
Joey Valls, who I texted about a half hour ago,
is getting ready to come on with me for just a little bit here.
He has some big news to talk about as well at his employer.
Thanks for joining us this morning.
We appreciate you out there. Give us a like, a retweet, a comment on the room,
especially the X-Space, which does us a salad
and gets those people going out there.
RDL, good morning. Good morning, Chunko.
Good seeing you out there as well.
Good morning to all the people in the chat. Mel Dobbins,
Odeka, I see you out there.
Bordo, Saka, doing well in the chat.
Opportunist, thanks for the retweet.
Booching is out there. Thomas, GreenEdge in the abstract chat.
Thanks to all the people who are out there. We'll continue
to hit the GM throughout the morning as we get this thing going.
But do us a favor.
Give us a little love in the room.
Like, retweet, comment, GM.
Bookmarks actually help according to the latest algo update.
And you don't check your bookmarks anyway.
So go through your bookmarks.
As a reminder, we're going to talk about all sorts of things on here.
Crispo.
Crispo.
Crypto is risky.
NFTs are risky.
Meme coins are exceptionally risky.
Nothing on here is financial advice.
Do your own research.
Everything can go zero to moment's notice.
We are not financial advisors.
I'm not a financial advisor.
Joey's not a financial advisor.
Von Fronten's not a financial advisor.
Do your research and understand that
this is probably the riskiest sector in the world.
So you want to make sure you're doing your own things.
People who are on the show may hold tokens they talk about
at any given time.
So you want to make sure that you are very confident in what you're doing.
I'm making a few plays that are potentially high risk here, especially with my OpenSea farming.
So good morning to all out there. Got a few topics to talk about this morning.
Grateful again. I'll bring him on here in just a second.
He's actually going to just be on the space
because I know he is a traveler at the moment.
We'll hear a little bit about that.
But I basically texted Joey Vowles about a half hour ago.
I was like, oh man, Von Fronten, who is jumping on the show,
probably can't make it until about 8.30.
He's got family duties, so he's tuned in but not on the show yet.
But Mr. Joey Vowles said, I can step in and pinch hit.
And speaking of pinch hitting, Joey, you are traveling for softball.
GM, how are you doing this morning, sir?
Jim, I'm in Houston right now for the week for our World Series.
um it's been quite the adventure i uh monday got on my flight in the morning
It's been quite the adventure.
went through tsa easy flight got in 30 minutes early get to the rental car counter and my
license is expired and i could not rent my vehicle and um so i had to scramble and get an uber and then the guy i'm one of the guys i'm staying with
then had to get the rental car it just uh yeah my license expired last month on my birthday
had no idea that it was expired so uh when i get home i need to renew my driver's license
and then yesterday our first game of round Robin, we have a four
round Robin games to two yesterday to today. Um, last at bat in one of the last innings,
I hit a double and pulled my hamstring founding first base. So I might be done for the whole week.
So say some prayers for me and maybe it's mild and I'll be able to come back once we hit
tournament play, but it's, uh, it sucks. Not fun coming out here to play for a week and getting
injured in the first game. It's hard to hear that. That was not the direction I thought that was
going when you said you hit the double. I thought that was going to be a heroic story. So, uh,
sorry to hear that my friend, um, appreciate you very much and, uh, hope that
you get better soon and hope that your team does well.
But, um, you know, traveling for, uh, for some softball tournaments, what is this the
softball you catch the ball with your hands or do you use gloves?
No, this is, uh, this is really competitive.
There's, um, 57 cities that are part of this larger league.
And in the spring, every league has their spring season.
And then depending on the size of your league,
depends on how many teams then get to qualify for this World Series.
So there's about seven, there's seven divisions.
So there's A, B, C, D, E, legends,
which is like, you know, the older guys,
legends D, legends D.
So we have, I think in total,
there's over a hundred, about a hundred teams here
from all over the country in Canada.
Last year it was in Vegas.
This year's in Houston.
Next year's in Columbus, Ohio.
And it travels all over the country every year. So it's a lot of fun. It's really cool.
But it's legit. It's very competitive. But right now I've been relegated to being the
head coach and third base coach until we figure out if my hamstring will hold up by Thursday or Friday.
Well, good luck with that.
I will say, I think that there is competitive softball leagues where you catch the ball with your hands.
I'm not super versed on softball, but I think there's the one, it depends on the size of the ball, where they have both that exist. But this sounds very legit, and I hope you heal up soon
and you're able to get back there.
I'm sure your team needs you, and you made the whole trip.
Are you at least, you know, before we get into it,
and we'll talk a little BZ news and everything like that,
are you at least doing, is the family with you?
Are you going to do some touristy stuff while you're traveling?
Or is it just like this was a pure business trip for, is the family with you? Are you going to do some touristy stuff while you're traveling? Or is it just like, this was a pure business trip for, for, uh, is, is ball ball's life?
Yeah, no, I did not bring the family.
Um, the schedule's pretty crazy.
Like two games, Tuesday, two games, Wednesday, Thursday, you could play anywhere from, you
know, one to five games Friday.
You play anywhere from two to six games um so it would have
been too much uh to have the family with me so not only am i now unable to play being injured
i'm extra homesick because i'm not going to be like focused on playing so i'm like facetiming
the kids um as much as i can so it no, it's me and a bunch of guys on
the team in a house. We have a nice house. It's a pool and a jacuzzi. And, um, so it's a nice
little mini vacation. Uh, it's just not what I was hoping it was going to be since I got injured,
but it's okay. I'm, uh, you know, I gotta, I'm going to help the team any way I can. Um,
and hopefully the team can, you know, pick up the slack and, uh, we bring home some
hardware. Yeah, for sure. Well, good luck to the team. Um, GM out there, by the way,
brick at all beanie Bordo Saka opportunists. I know we hit booching out there in the chat,
Thomas always, uh, lively and active mesh mesh hitting that chat. Uh, Mr. Aspiring nobody.
Oh, appreciate the love. Got a little bit of a shot this morning from NFT NYC.
He posted, appreciate you good, sir.
Meet the folks out there in the chat.
But Joey, we got a few topics we're going to cover on today.
Obviously, Von Front is going to be joining us,
and you're welcome to stay all morning for sure, should you so decide,
especially now that it seems that you don't have quite as much going on.
You just got to rehab on the hamstring you pulled.
Sorry to hear about that.
I know as we get older, that gets a little bit worse.
I know I'm feeling it.
I ran eight miles on Sunday and then, or maybe on Monday and then yesterday. Yeah. Cause then yesterday I just
lifted shoulders with my son and walk the dogs a couple of times. I don't want to risk popping
anything, especially cause I'm not doing anything competitive. It makes sense. You would do it while
getting competitive and doing some sprints, but, um, actually got my son a, uh, we, we talked about
it. We got him a five pound barbell so we could start doing some barbell lifts. He's been using the dumbbells in the basement.
So did some, uh, some shoulders to overhead stuff, some shrugs and, uh, use some kettlebells
for some upright rows yesterday, working on some shoulder stuff with him as he's getting
going.
He's 11.
So right now it's just, and you'll probably appreciate this as a CrossFit kids guy.
I'm sure it's a matter of like getting him comfortable with the barbell, getting him comfortable
with some dumbbells, understanding what the
names of the lifts are and how to do them properly
with the proper form. He's not
going to get strong until he hits a growth spurt.
Frankly, he's taller, but he
hasn't hit the growth spurt
growth spurt. His voice isn't dropping, things like that.
My daughter was relatively
early. He hasn't been.
He's 11. I basically have tried
to explain him at some point in the next two years your body is basically going to be naturally on
steroids and you're going to be happy you got a head start you've been doing this and waking your
muscles up he's already seen some nice little results but like the idea that he could potentially
get really strong really quickly if he just eats like a maniac his kids can eat whatever they want
even though we do have meat healthy he he likes, thankfully, he likes chicken.
He likes steak.
He likes beef.
He likes burgers, things like that.
He also likes a lot of junk food.
Our whole house likes tortilla chips.
But we got him the barbell.
He seemed to like it.
It's something new for him to play with, new toy.
And so basically told him, look,
it may seem like a while because two years is like,
you know, 17% of your entire life right now but if you just wait in the next couple of years at some
point maybe in a month maybe in six months maybe in 12 months maybe in 18 months you're gonna be
really glad you're lifting right now so i've been trying to get him on that and get him going because
all the stuff about stunting your growth is a, is a false science.
bullshit.
Yeah.
That was what I heard growing up. And it was like,
don't lift weights.
It's going to stunt your growth,
which jokes on them.
I'm shrinking as I get older and I was never taller than five,
10 anyway.
didn't matter,
but,
wish I had just started lifting,
but yeah,
getting him going on that.
It's fun to watch a,
a 11 year old barbell and, uh, learning how to do some of that stuff.
And, you know, initially he just did the barbell.
He's like, that's too light.
And we had a two and a half.
He's like, that's too light.
And we added fives.
He's like, all right, this is kind of perfect.
And so not trying to overdo a day one.
And then I put, um, I think 15 pound bumper plates on for him to just play around with
some shrugs because, um, you know, not a huge muscle on a,
on 11 year old.
So thought you'd appreciate that getting them started early and,
and getting them going.
working on that and we'll,
we'll get him back on the treadmill today.
We've been working on lifting.
We've been working on running.
It's just,
just getting him to athletic.
The other thing is like,
and Joey,
I'm sure you're the same way.
So we can hit this before we,
we get out of cold open.
My kids.
So my, neither of my kids are like,
for whatever reason, they're not particularly athletic.
Like I played all the sports growing up and it's not a knock in a sense of
like, I'm hitting on them for it or anything like that.
It's just, they don't have interest because they have so many other things
they could do.
So my son has no interest in watching football.
My daughter likes watching football.
She can throw a damn good spiral, but you know, she's not much of a runner. She doesn't like to
run. She doesn't really like to lift. Um, she has lifted with me before, so she understands what it
is. And I think she did it cause it was a thing to do with me at one point. But like my, my thing
is I just want them to be active. Like my daughter does, you know, she's taking a break right now,
but she's done some gymnastics. My son plays soccer, but I just want them to be active
and be around us in the gym and be around the gym
because I just think there is a higher probability
that they're going to be healthier in the long run if I have them.
I do want to get my son and my daughter both potentially
into some sort of combat sport.
I know that's something that you have your kids doing.
That's something that I've been thinking about a lot.
We just got to find the time to do it. But yeah, man, I just, I think
maybe I'm wrong, but I never got any instruction on lifting or exercising or anything. I always
did it naturally. I played a lot of sports naturally, but I wish I'd gotten into lifting
and stuff earlier. I didn't really even start lifting in force until maybe even college.
So I think you're, you're probably of the same alignment. It's like, get them in early,
have them just be a natural thing that you just do explain to them why they should be doing it.
And then, uh, I think when you're a kid, you probably have a better chance to see results
too. And I also think it takes a lot of life lessons, teaches a lot of life lessons,
playing sports and lifting. So, um, thoughts on that. Cause I think you're taking a similar
path with your kids. Yeah. There's, you know, there's a, an obesity epidemic in our country. And it's really important that you teach your children at a young age to be active. Like they, and being active doesn't necessarily mean they have to be like the best of just sitting around and eating um my daughter
does jujitsu i highly recommend anybody with a daughter that you put your daughter into some
type of combat sport i will always say jujitsu because jujitsu is the great equalizer doesn't
how big your opponent is um if you're if you know how to choke somebody, it, their size is irrelevant.
Um, it, there are a lot of studies that showed you Jitsu is a huge confidence builder for, uh,
young girls. And it's great for socializing because they're in a, you know, they're in a
large group setting. Um, and obviously as a, as a, a female being able to protect yourself is not a
bad thing. Um, so I highly recommend jujitsu for anybody that has a daughter and even a son,
like there's a lot of like, you know, the jujitsu class that my daughter goes to,
there's only four girls, uh, you know, the other 10 to 15 are boys. So it's great for boys too.
It's, I think any martial art in general, when they're young is great because, you know, the other 10 to 15 are boys. So it's great for boys too. It's, I think any martial art in
general when they're young is great because, you know, the biggest aspect of martial arts
is discipline and respect. And sometimes, right. Like having another, uh, like adult figure
pounding that into your children's, you know, mind works, you know, not all kids want to listen
to what their parents have to say. Um, but yeah, my daughter has been coming to the gym
since all my kids have been coming to the gym since they were basically a month old. Um, so
they don't know anything else. Like my daughter loves going to the gym, loves doing CrossFit,
like tells people how much she does CrossFit. Uh, my son's going to, gym, loves doing CrossFit, like tells people how much
she does CrossFit. Uh, my son's going to, my son's only two and a half. So obviously he can't
start anything yet, but as soon as he turns four, he'll be in jujitsu, he'll be in CrossFit.
And at the end of the day, I think the most important thing is make sure like they have fun.
Um, if they have fun, then to them, it's not really working out. And, um, that's what I
think matters, whether it's gymnastics, whatever, but yeah, get them moving, get them doing stuff.
Yeah. I mean, being active is so important in my mind. And, um, it's just something that I want my
kids to be. I like being active and they play outside and stuff, but I just want them to
have good disciplines and build good habits. Because when I think about my kids,
I'm thinking about not just them when they're that many of my kids are,
are middle schoolers,
11 and 13,
but when my kids are 30,
you know,
you know,
like I want them to be,
have these inherent habits and qualities built in for them to also teach their kids and for them to
learn from because it is such an important thing, I think, for lifelong fitness and learning and
to understand it. And, you know, I'm in a very good position where having learned it, it's like,
look, right now I am in not the best shape and I'm, you know, I'm dieting, I'm exercising,
I'm working on getting myself back down to something respectable. But the truth of the
matter is like, I have the tools in the toolbox to get in shape if I need to.
I know what eating healthy is.
I know what, you know, running and lifting is.
I know what playing sports is.
I know, generally speaking, how to work, you know,
to stretch properly and do all those things.
I just want my kids to have those tools in their toolbox
so they can make those decisions when the time comes
and teach to their kids and my grandkids ultimately and, uh, and make it happen.
But, uh, you know, health is health is wealth is, is, you know, you know, obviously a platitude.
A lot of people say, but I think it's really important.
So, uh, been getting that going, but it was cool.
I got some good pictures of the boy using his barbell for the first time yesterday and kind of lift in and doing some shoulders to overhead and things.
So, um, fun stuff.
And actually it was, uh, texted by friend who's a CrossFit trainer to show him and things. So, um, fun stuff. And actually it was,
texted by friend who's a CrossFit trainer to show him as well.
So good stuff.
But joy valves while I got you here,
big news yesterday.
I will share the open C announcement that we got yesterday on the space
here in a second.
And I'll pin it to the top because,
you know,
or you've got it.
You,
yeah,
sir.
Good job.
Joey's already in front of it. Joey, this is, uh, or you've got it. Yeah, sir. Good job. Joey's already in front
of it. Joey, this is a, in the, ever the consummate professional, uh, Joey has got it done. He knows
what he's doing here, but, um, we'll share the screen. Open C here. Um, Open C I'm seeing if I
got a Chrome update. It's not letting me share my screen. Yeah. I know Google's accessing my screen
MacBook. Um, an Open sea claw machine from bz
appears 100 by the way thank you for the tip duane appreciate that uh so much this morning
gm pinstripe gator we'll have a fun front here in a second as we get this thing going but
an open sea claw machine from bz appears a hundred thousand dollars of pokemon slabs
labubus sealed products vintage collectible grails and Wait, 2,000 burnable NFT vouchers are being added to our rewards pool.
Each one equals a single claw pull.
Will your treasure chest reveal one?
One thing I'm pretty sure about here on OpenSea before we get into it
is that it sounds like treasure chests are going to potentially reveal
a multitude of items, so it's not necessarily just
I open my treasure chest and there's going
to be one pudgy penguin or one world of women in there but there's going to be potentially
multiple hips i don't know that for sure but it looks like that might be the case based on the
way that we've talked about the reward system i actually had a tweet this morning i pinned to the
top about my leveling up of my chest and some things i'm doing but let's get to bz um this is
a big announcement uh open c obviously is one of the biggest players in the game.
I have been adamant that,
while a lot of people are fighting OpenSea
and a lot of people aren't fans of OpenSea at times
and they have issues with how they do certain things,
and again, I think that there can be sometimes a double standard,
sometimes a little bit of hypocrisy
with how people talk about OpenSea.
It's a whole other discussion altogether.
But with that, I do find it interesting
that OpenSea has really been out here
talking to real builders in the space.
And so talk a little bit about what this is
and your thoughts on, you know,
talk about your thoughts on this partnership
because it seems like a pretty awesome deal for you all.
I was pumped because big fans of you, Andrea, Dox and Wizard wizard the whole team there um you know i tell me a little bit about it
yeah this is um andrea is an absolute networking and like just like just like she just doesn't stop and she you know had we there was a conversation she had and
you know with with um open with i think it was i'm trying to think of who it was with now and
i don't want to misspeak but she had a conversation with someone at openc and this idea came up of them. Like, Hey, what if open C was like, Hey, what if
we gave away, you know, vouchers to your claw machine? And she was like, no, how about we build
you an open C claw machine? And they were like, wait, what? And they were like, yeah, you know,
we did this with tag and it just kind of went from there. And this is something that
we've been talking about from day one. When we built this platform, we've always said this,
we're not building this platform for us. We're building this platform for other people. We want
to collaborate, right? Like we want to bring in collectible businesses who want to use the platform to grow their business.
You know, the idea of the claw machine was, yes, we're going to prove proof of concept because it's going to be for us.
But, you know, if, if there's a, uh, for example, you know, Gary, if you're out there, you know, uh, if you want a v friends claw machine we'll build you a v
friends claw machine right like that was the idea is that you could come to us with your big if you
had a big following whether it was on web 2 or web 3 and you could say hey listen i want to build this
machine for my consumers my customers my, my clients, my fans.
We could do it.
And that's what happened.
We, we worked with OpenSea on the design and, and the, you know, what was going to be in it.
And now they have their own OpenSea claw machine.
You will only be able to use it with the vouchers.
So you won't be able to participate in the OpenSea Claw machine with crypto or credit card or anything like that, like our other machines.
So it's only through opening up your treasure chest and seeing essentially a Claw machine voucher.
And then you would go burn that voucher.
When you go play the machine, burns the voucher and then you would go burn that voucher when when you go play the machine burns
the voucher and then whatever gets pulled out of the machine um is yours to either uh keep
you know digitally right like keep it in our vault keep the physical in the vault
and then you hold on to the the nft version or redeem it physically. And as people know, you can redeem it anytime, anywhere in the world.
And it's shipped right to your house.
So effectively, it's a white-labeled product.
It's BZ products inside.
They get the vouchers.
They build the claw machine on OpenSea.
And so it's going to be on the OpenSea platform,
sort of white-labeled on there. It's going to be on the OpenSea platform, sort of white-labeled on there.
It's going to be a voucher-only thing,
which can obviously be bought, sold, and traded on the OpenSea platform.
So is this a limited thing?
Basically, there's a run on it.
Is it something they're going to keep in perpetuity, potentially, to use?
And out of curiosity, so those two questions,
and then I'll get to the VFriends one,
it was really interesting when you mentioned it.
But is it something that'll be, in, you know, keep geek. So,
or is it something that'll be,
my understanding is correctly white labeled open C platform,
uh, collectibles will use on the open C platform with these vouchers.
And again,
is it limited time or is it something they're going to keep open?
Yeah.
yeah.
So to the vouchers,
right.
So when you open up your treasure chest you're going to get a
voucher so that that voucher technically can be sold because it's an nft so if let's say like we
looked at like the the multi-ball thing that was on a chain right like the the people were selling
um you know what's his name?
I'm drawing a blank now.
Bought that gold ball for $500.
Drew, Drew, Drew, Drew.
Yeah.
Drew bought that gold ball for $500 because it gave him a better chance at whatever.
So when the machine first launches, right, it's going to have a hundred thousand dollars
worth of product in it.
And some of those items are going to be worth a lot of money right um four figures and up so there's an opportunity
that you know somebody who is a fan of pokemon and all these other things might want to just go
buy your essentially your voucher um and you might be able to make money on your voucher. Um, and you might be able to make money on your voucher versus actually using the voucher.
So that's something that's really cool, which is obviously, you know, blockchain technology
at, at, at its best.
Um, for now it's a, because OpenSea hasn't really announced like the long-term plan yet,
right?
Like we're, they're still building
out like what's going to be in these treasure tests and how long they're going to run and all
that stuff for now this is all we have it's a hundred thousand dollars worth of product
in the open sea claw machine um i would you know i would hope that people love it and have fun with
it i believe they will um because the claw machine is a ton of fun with it. I believe they will. Um, cause the claw machine
is a ton of fun and it's exciting. And you know, if, if, you know, if everything goes really well,
um, I would believe they'll, they'll re up with us, but this is what it is now. Like we don't
have anything beyond that. Um, but yeah, I mean, this is what we're doing. We're trying to build a platform that, um, is available to multiple people.
You know, we've said from the beginning, collaboration over competition.
And like, it's funny.
I, I, I texted you yesterday, you know, we've been talking about open C for the last few
weeks and like all this stuff about like their rewards.
And I've been like chomping at the bit to like so open c's doing
some really cool stuff like but obviously i couldn't say anything um so i'm so excited this
is andrea is just an absolute beast and um the way she was able to get this done, um, is just amazing. And there's, there's no other founder that I would rather, uh, work with and be on this
journey with and her and Prateek Prateek is, you know, man, that guy, I don't know when
he sleeps or how long he sleeps.
Um, because we are constantly building like whether it's, you know, better UI, faster transaction processing.
Uh, like from what I know, we are the only current platform that accepts credit cards, debit cards, Apple pay, Google pay, um, and cross chain payments without having to bridge manually
to be able to play our claw machine as well as shop in the marketplace.
And he just never stops.
It's incredible what Prateek and his development team have done since we launched.
It seems like we get an update or an an improvement every single week love that love to
hear it and uh look i mean love what bc's doing love what you're building and one of the things
you mentioned there is open sea chest and it's become a hot topic on our show on other shows
people are on i feel like polar opposite sides of the spectrum on this open sea thing so um for
people who don't know or haven't been paying attention
or haven't been doing it,
these treasure chests in OpenSea are eventually going to reveal treasures.
Now, we don't know exactly what those final treasures look like,
but the idea is the higher the treasure chest,
the better the treasure you get at the end of 30 days.
They're going to have at least a couple of runs at this reward program.
Adam Hollander confirmed in a Discord AMA,
but basically it's their rewards program for using
their platform so if you do token swaps if you buy and sell nfts you get new chests those chests
will eventually reveal things i decided i got a one i got a tier 12 beacon that is already one of
my treasures in my treasure chest so um cap noted this is a little bit confusing which i get i think
my tier 12 beacon is going to go towards my TGE,
and I don't know if it affects my chest and how I draw on this.
I'm not sure exactly if that is,
or if everyone's on the same level playing field leveling up those chests.
I think that might be the case.
So theoretically, if you get to another Tier 12, you would probably get another Tier 12 treasure,
which would also play in towards your TGE,
if I'm understanding this correctly.
They mentioned in the article that treasures will play a role ultimately in TGE.
So I'll kind of share my screen on this just to show a couple things on my OpenSea rewards.
You can see if you're looking at the screen right now,
I've got this Explorers Gala Tier 2, Flame of Experience Tier 3,
a Rally Tier 1, and a Voyager's Beacon Tier 12.
These are various things that I've gotten
for, you know, doing things in the ecosystem that gave you these treasures, which eventually will
help lead towards certain things in TGEs. I do think I actually am bummed. I think I missed one
treasure that was in my wallet where you got one just for holding an ape or something, and I didn't
open it. I don't remember, but there was something. Now all the wallets are connected, but I don't
think I ever got that treasure back. So, you know, it's okay.
I can live with that.
But I'm leveling up and I'm on this Amethyst chest.
Well, each time it looks like the XP doubles.
Actually, I got a really good reply this morning
on my GM post,
which I'll have to go find from Chimperton,
who replied and basically showed that it is, you know it is there's a dune
analytics dashboard i'll share here in a second i'm going to zoom in so people can see it but
basically they showed the xp required uh as well as sort of like the fees and the structures that
it's going to take so swap fees percentage wise n NFT fee at one, and what the XP required is.
And basically what you'll see is the XP is doubling up at each chest. So I feel like I'm moving really slow at Amethyst right now. But if I think I'm slow at Amethyst, you know,
getting to Topaz, I can't imagine what Topaz to Sapphire, Sapphire to Ruby, Ruby to Ember,
Ember to Solar is going to be. They have the theoretical NFT fees that you're going to be spending.
So it looks like they're guessing
about $11,000 in fees at 1% there
or about $9,000 in swap fees
in order to get to that highest chest.
Now that said,
I don't know if it's a plus EV farm
and I'm not telling anybody to do this.
And look, I'm not somebody
who can just burn a hole in nine thousand dollars so the
chances of me getting there are very very low uh but when i look at that one there's a couple
hacks people are using one they're doing a lot of nft volume and effectively blur firming they're
going to something like a low cost thing buying 50 of them listing 50 of them losing like
you know 0.01 or something on the, you know, 0.03.
Maybe the floor price goes up a little bit.
So there's some people who are playing that game right now.
And I see that game.
There are people who are doing things like on higher NFT volume.
So I saw some people who are buying mutants and pudgies and apes and, you know, mythics.
And then reselling them at a gain in order to offset some of the other losses they're seeing there.
So I'm seeing some of that action happen as well.
But it is quite the farm as far as the numbers go based on those numbers people are doing.
You do see the exact targets on it.
And I think people are banking, even those who are doing the swaps,
because I was talking to someone yesterday who said that, you know,
basically, you know, their folks are going in, doing, you know,
swapping out $100,000 worth of stuff,
and then they're just done with it.
They know they're ready to level up.
They don't have to think about it.
It's sort of like that farm's done onto the next.
I do think, and this is my thesis on it,
which again, we always say not financial advice.
We don't know what's going on here
because this is a total gamble.
Part of it to me is, this is the first season of this.
There is a ton of volume because it is the first season of this.
They juice the rewards pool with over a million dollars in tokens to start
and have done more since.
You know, if you look at their overall rewards pool,
I'll see if I can pull it up here because I know it's on the,
I know it's on, I should do,
I should actually do the math on this at some point.
But I know the rewards pool is relatively large.
So you look at this rewards pool.
I'm sharing it on the screen right now.
$750,000 in Optimism token.
$250,000 in ARB.
Pudgy Penguin NFTs.
They have one.
They have a Bored Ape.
They have 10 Doodles.
$27,000 worth of dude 25 000 worth of ape token uh 21 000 of pengu they've got uh i know they had a bunch of mutant
apes at one point i had to see so i'm probably missing those yeah like um suddenly says one
mutant ape i know they i thought they swept more i know they swept a bunch of little pudgies so
bought one mutant initially and then i think there more. I know they swept a bunch of little pudgies. Bought one mutant
initially, and then I think there was another
buy where they bought a few more, if I
remember correctly. I feel like this is not
updated because
I feel like yesterday it had more mutants
when I looked, so something must be
off on there.
Two days ago, you can see they had the thing
where they bought a bunch of little pudgies two days ago.
So something is off on the rewards pool number.
It has to be updated.
It was last updated a couple days ago, so it wasn't put in there.
Point is, because they bought like 10 little pudgies, 10 mutants, something like that,
ton of value of those.
So there's a lot of stuff.
So Joey, my thesis here is that they've got a lot of rewards.
They're probably going to run a reward their highest users,
like any platform will.
You want to reward your whales.
That's a sort of a adage in crypto.
So I'm taking my shot at this.
And I may come up woefully short and not get bang for my buck,
and it'll be majorly negative EV.
But my thought process is as follows, and I'll throw it to you.
Again, first season, probably doing it as big as possible.
Highest volume because they have half of their um fee structure going towards buying these
nfts and tokens and whatnot so that's going to be the highest rewards pool with this many people
sort of farming it or doing it and no matter what i do here this activity goes towards an ultimate
open sea airdrop anyway so it means that i'm actually making moves towards that airdrop down
the line and if it gets me another treasure,
even another Tier 12 treasure, that
goes towards my airdrop. So it feels like there's this
stackability that's going on here.
I could be wrong. Thank you, Green Edge, for the
Pengu tip. Appreciate that this morning.
Thoughts, Joey, on that?
Do we know...
See, I'm under the impression
that these chests
are separate from what we completed already.
So do we know for sure that whatever we're doing right now is contributing towards the TGE?
Because I feel like these chests are the new reward program post-TGE.
And then the XP we earned previously and historical trading and blah, blah, blah
is TGE stuff.
I would be shocked if what we're doing right now
doesn't contribute to TGE.
I don't think TGE has a historical volume pool
from what we have been told,
a current volume pool,
and a rewards program pool.
We know that these treasures
are going to play a significant role.
These things that you have,
let's say treasures,
your tier 12, tier 5,
whatever you have, your rally tier 1 from holding rally NFT, those are going to play a significant role. These things that you have, let's say treasures, your tier 12, tier 5, whatever you have, your rally
tier 1 from holding rally NFT,
those are going to contribute
towards tokens you get at TGE. They have
said that those treasures matter.
I would be shocked if the volume right now
doesn't contribute towards TGE. So my
feeling is that this is all going towards
TGE ultimately
and I
that's why I'm working on earning towards it.
So it's a double rule.
So right now, in your opinion,
you think that the XP and the volume we're doing right now
not only ranks up our boxes,
which are where all these things they've done
are going to reveal, right?
Like the vouchers for the claw, the ARB, the NFTs.
So you think the XP we're earning and the volume we're doing right now
not only allows us to ring up our boxes,
but is also going to contribute to TGE, so it's a double.
That's my guess.
That's my feeling is that it's not just a double.
I would say it's arguably a
triple and here's why you are farming towards tge which gets you that you are working towards
your chest which gets you that and i wouldn't be surprised if at the end of this 30 days when they
start the new one you get another treasure which are those things on the right side uh for your
which automatically is locked in your account, which also goes towards TGE.
So it could be a triple farm towards their airdrop
in some way, shape, or form.
Now, how much does it, how meaningful is it?
I assume they're going to reward historical volume
very handsomely, but, you know,
I've seen people complain like,
oh, this is nerfing my airdrop
or this is diluting my airdrop.
I don't think it is number one.
Like, I think they're probably going to do a good job
with this no matter what on historical volume.
But number two, the game is the game.
They're building a platform and a product
for people to use ultimately,
not just now, but in the future.
They are, you know, they've built in,
I would be almost surprised
if they didn't build in liquidity pools at some point.
They built in token trading.
They built in a user-friendly platform.
They built in a great landing page. They do things on people-friendly platform. They built in a great landing page.
They do things on people in the business.
They work with companies like BZ.
They throw out, you know, blogs that are about the industry.
Their token pages, I think, are an underrated thing,
where if you go to their token pages, their NFT pages,
they've spent a tremendous amount of time and effort
building those out with various teams to show.
And so if you bring a friend in and they're learning the industry
as, you know,
while it's become easier to use
and everything else,
they go to a page like,
oh, this is what Board API Club's history is.
Oh, this is what Pudgy Penguin's history is.
Oh, this is the history
of the wrecked token and wrecked God.
Like, and so I think that
they're building this long-term platform.
They want people to use this long-term platform.
They want people to use their,
you know, ultimately use their rewards platform.
So it's like,
of course you're going to build
your rewards platform
and try to reward people for using it.
But Joey,
my friend's going to come in here
in a second,
but stick around.
But I want to get your take on it
because I know you are doing
some farming as well.
How are you going about it?
Yeah.
So I,
real quick,
one of the things that
we don't know yet is, will every chest have
something right?
So in the past, whenever you have these, like, uh, these blind box chests, sometimes
you, you reveal a chest and there's, it's like, Hey, thanks for playing.
Right.
I have a feeling that these chests are all going to have something in them.
I don't get the vibe that because like the amount of money that they're putting into
this, I don't get the feeling that even if you have, like, I'm only at a, maybe it's
a cobalt, uh, or an AMA.
I'm at, I'm at like a couple of chests below you, I think.
Um, so what I've been doing is I've been, I have my liquidity pool on project X and anytime I need to rebalance my
project, my liquidity pool on project X, you know, I collect my yield, which is anywhere from 60 to
a hundred dollars. And then I go on open C and I swap on open C to get my tokens back to where they need to be to then go reopen
my liquidity pool. Um, and I, sometimes I'm, you know, based on what my yield is, I still come out
ahead. Sometimes it's, you know, the yield is basically covering the fee to open C. So I'm,
I'm getting points on project X for having a liquidity pool open.
And then I'm earning XP to rank up my chest on open C because I don't have the type of liquidity
to like, I have to kind of pick and choose, right? Like all the liquidity I have really
is on these liquidity pool, the liquidity pool that I'm doing on project X. So I'm kind of getting
to double farm in that manner, right? I'm earning points on project X towards their TGE.
And then I'm using the yield to allow me to earn XP on open C.
Now, if I took all that money off project X and just went to open C, I could probably
do some more farming.
Um, but I don't really want to get into the whole, like buying as many $20 NFTs as I can
relisting them.
And like, it's, that's not my, my thing. So I'm going to keep
doing it the way I'm doing it. But I get the vibe that all of these boxes are going to have
something like you might open a box and it's $20 an ARB or it's $10 an ARB or right. So I think
we're all going to get something. Some of it's going to be less. Some of it's going to be more.
I'm still, still would love to know, like, do the bigger boxes give you more, like more
rewards?
So like, if you open up the biggest box instead of getting one reward, you get like three
or four, like you could get a claw machine voucher, some ARB and an NFT and a bigger
box, or do the bigger boxes just mean higher probability of getting better things.
So like, there's still a lot of unknown here. And you know, people are very critical because
they're like, Oh, from my experience, blind boxes are not positive V positive EV. Well,
you know what? This is the first time they're doing it. This is probably the best chance you
have at them being positive EV, because I would imagine like any business, they want to impress their
consumers with their first, like their first program. So I'm going to give it a go. I'm going
to do the best I can to get as many boxes, you know, get my box up as much as I can.
I'm not going to, I'm not over, I'm not like kind of, I'm not getting overly excited about it. So
that way I have a huge letdown. If it's not, I'm just taking it as what it is and saying, Hey, I'm going to have
some fun and do this.
If I get a reward, great.
If I'm not positive VEV, it's okay.
I got to go through the experience and then I could accurately give my
assessment because I actually did it versus people that are just sidelining
themselves and complaining.
Um, so I, I'm not sure i'm with you
on the whole this is a double or triple farm right now i have a feeling this is a little separate um
i don't think we're deluding people because i think when you look at tokenomics i would wager
there's a percentage of the tokenomics that's already been, let's say if
there's a billion tokens of C, they've probably already said 10% is going to historical. So you're
not getting diluted, right? They've definitely probably allocated a percentage to historical
trading volume. So this is not diluting you. I doubt they're going to say, oh, 20% goes to all
trading volume, including historical. Like that would make no sense.
So the whole dilution thing, people need to just stop.
That would be good of them.
Yeah, I agree. I agree with you.
I'm going to bring on Von Fronten here because I think he has a different take on all of this.
Cap, thankfully not listening this morning because he'd be blowing a gasket with all this OpenSea love that we're having right now.
But Von Fronten, first of all, GM, how are you doing this doing this morning sir uh appreciate you joining me I know you're joining me as well
Joey Val always feel free to jump in as needed although might be easy to throw the hand up just
to make sure because I know the spaces sometimes the the talk that track doesn't work but you're
welcome to stay obviously all morning in the co-host position as well uh Von Fronten GM how
you doing this morning sir GM GM audio. Audio good on my side here?
Everyone hear me? Audio sounds great. Awesome. No, doing good, doing good. Thanks for having me.
Excited to be here. Thanks for accommodating my daily morning routine. We got to get three kids
on three separate buses between 7 a.m. and 8.30 here in the up front and household. So weekdays are a little crazy.
But, no, happy to be here, man.
Yeah, you are actually accommodating my daily routine of doing a morning show
and not having to do it alone.
So I appreciate you giving me that love this morning.
Curious, and we hit a little OpenSea stuff just because it was on my top of mind this morning.
I hit the Amethyst box.
I mean, feel free to give any sort of like level of take on this thing one way or
the other.
I think you are playing it.
If I recall correctly,
just you're going to get what you're going to get and you won't throw a fit
type thing.
you're not going to go out of your way to use it.
you're not just going to spill more money into them.
Curious,
how you are playing this thing.
Yeah,
I think I'm on old,
old wooden box,
is my current level. And I'm not going current level and i'm not going to be uh
not going to be getting uh higher than that unless there are like just organic
san diego and old wooden box yeah uh yes yes so i'm glad you got the reference there um
so the um i don't know i um i i'm not going to fault anybody for playing the game how you want
to play the game right i think that one of the great things that I love about Web3 and crypto is freedom to transact.
There are a lot of different places that we can transact.
There are a lot of different ways that we can all participate and try to make money.
So like, do you?
I go back to, I think we've made this, you've made this joke many times, uh, and I am like 110%
a believer of it. Um, but you know, a boat's a boat, uh, but a box could be anything. It could
even be a boat. Um, and so, you know, if, if my, if my whole, the whole point for me, my goal,
if I were to farm open sea would be to get some sort of financial return, right? Something that
I can either, it's directly like a token or an NFT that I can then sell and get money off it.
If the price for that are these much higher fees and swaps and other things that I have to do to
earn that, I'd rather just keep the money, right? Like I'm just going to take the boat on this one
and I'll keep my money
and I'll keep it over in DeFi and other areas.
And I will, and if I happen to get 20 bucks of ARB
because of my old, old wooden ship, cool.
I think I do agree.
I agree with no alpha whatsoever.
So maybe I'm hoping that Joey's take on the C allocation is correct
and that all of my historical trading is protected and in a vault somewhere
and will not be diluted by the fact that I'm not participating in these quests.
But yeah, I think it's a...
But again, I'm not a big...
I guess I'm a selective far more
when it comes to these types of things.
I don't know enough about it.
I've been burnt in the past
where you think,
hey, we're going to hold on to an asset.
We're going to spend a lot of time.
We're going to spend a lot of money.
And it didn't end up being EV positive.
And so I'm taking my,
my lessons.
I've been burnt.
This is how I'm going to play it.
I think for the people like you,
Steve,
who have like worked your way up damn near to the top of the list,
I got to expect this is going to be an EV positive play for you.
Right.
I think the amount of time and the effort and the points that you've
accumulated over the time,
I got to believe it's going to be a good move for you.
I'm not at that level.
I'd have to spend a lot to maybe get there.
And as I kind of look at the risk reward,
I'm going to put my money elsewhere.
Yeah, I think that's a good way of putting it.
And Joey, see your hand.
I'll get you back in a second.
It's like, I think it's a good way of putting it
where it's like, it's almost like any other farm.
Like I went hard at Project X after,
I wish someone in the war room had mentioned
it to me before i got into it it's actually for people who don't know basically phonics and mayhem
tried to get me into project x probably for about a month before i actually uh stopped whining and
did it but like project x i got into it mayhem tried to get us into d5 since like 2023 let's be
honest like give credit where credit's due we are laggards uh according
to them in the war room yeah i it's funny also because like i i feel like um i feel like you know
i did that to you after where i just badgered you to get you off meteor into project x because the
fees were so good so like i got to feel what it was like
to be like... I've been trying to tell people
that. My next thing that I've been doing, although
their leaderboard site's been down, so I haven't been
recommending people go there because I think it's going
up today or tomorrow, is I've been telling people Turtle into
Katana. And I feel like I'm crazy again because
I'm like, people are like, I don't want to watch it
politically, pull or do anything. I'm like,
you put money in through Turtle, you put money
into Katana, and you just earn yield and don't do anything with it.
If you're holding ETH spot that you're not going to use,
seems like a fair enough place to hold it.
But obviously, beside the point here,
more point being that, yeah, man,
I find myself with some of my liquidity
looking at it and saying,
when you farm,
if you go hard at an individual platform, you tend to
be rewarded well.
Now, that's not always the case.
Like, Blast farmers got hurt doing certain things, and Blur farmers got hurt doing certain
things.
It's not always the case.
However, I have found that, generally speaking, the best EV positives come from people who
are deep in the ecosystem.
I mean, it's the same with tokens, same with anything else.
I mean, K-Money got rich off Mog
because he held and he held
and he bought and he bought.
And so I think kind of your point on there,
it's like, look,
you can only go hard at so many things.
It's one of the reasons why
when I first did DeFi,
I had like 15 things I was doing
and it's pared down to like four to six
because moving that liquidity around
and using it accordingly.
Well, I mean, it's only going to,
like, I have to have a reason for everything.
It's like, if I wanted to go hard at Kinetic,
I would put all my money in Kinetic.
I have some money in there
because I want to earn staking
and I want to lock up hype
to stop myself from spending it
and just be smart about it.
But like, I know I'm not going to get a big airdrop from that.
Like, I know I'm not going to get big airdrops
from certain things.
You know, the people who are going really hard at abstract
or getting 300,000 XP a week,
they're probably going to eat at abstract TGE.
I might do okay, but I'm not going to.
So I think your point about like OpenSea,
it's like one of the reasons I'll probably do well
at OpenSea TGE is I have done the voyages.
I got the highest level treasure tier.
I'm going for the higher boxes.
So if I do well and people are like,
oh, I shouldn't have faded this.
Like, well, maybe, maybe.
But if you were going to go and get two boxes up
and spend your time and money,
that might've been spent better LPing
or doing something else.
Yeah.
So first, Steve,
I have to challenge your self-abstract FUD.
I believe at one point in time, you were in the top 0.5%
of abstract earners. I got to believe you're still pretty high up there. So
woe is you for maybe only being in the 98th percentile instead of the 99th percentile,
sir. But yeah, I mean, I think it's to your point, it's like anything in life. I think you spread yourself too thin.
You'll do, you know, you'll, you'll be an inch deep and a mile wide and you'll have a
little bit of everything.
Right.
And maybe that stacks up, right.
Maybe there are enough a hundred bucks here, 50 bucks there, 200 bucks here.
And it starts to stack up and you start to see something that is, you know, the same
as if you just had gone hard at one or two things, right?
For me, it's also a time investment. There's the financial aspect of it, obviously. There's
also the time investment and how much I can only be in so many places at the same time.
I can only keep so many tabs open on my browser and babysit these things or keep track and make
sure that I'm optimizing what I'm
doing. And so that's where it was like, same to you. I didn't start off with as wide, I didn't
cast as wide of a net as you did early on, but I cast a little bit of a wide net and I was in
Meteora and I was in Orca and I was playing around on some, you know, with Abstract. I was doing
perps on new trade over there, which I think at some point in time, I may still be the highest trader on that platform, uh, over I think whatever
time period, uh, which is, uh, I don't have the gains to show for it. Um, so, um, but, uh, hope,
you know, if they ever drop a token, hopefully I did something there by giving them all of my
liquidity. Um, but, uh, and now I'm really just like, I'm kind of down into,
I'm in Project X, thanks to you. I have a small bag that I have in Hyperliquid for perps.
I've got a small bag over in Jupiter for perps on Solana. And really that's kind of where I'm
playing right now, right? I don't have to do a ton.
It stays in basically one of three wallets for me.
And it allows me to kind of benefit from DeFi,
benefit from these places that may or may not have benefits,
while freeing up time to do all the other stuff I have going on in my life.
all the other stuff I have going on in my life.
Yeah.
Yeah, I like that thought process.
I like that thought process.
Joey Viles,
Joey Viles, go ahead and get in here.
go ahead and get in here.
I think the biggest thing with all of this and what I'm hearing from like
Von Fronten is tempered expectations.
I think so many of us have been here for so long where we have this
warped perception of like what a reward should be.
Like I should be making,
you know,
$10,000 or a hundred thousand dollars because of what we've seen in the
past.
And I just don't think that that's realistic.
If you,
if you go into any of these,
like project X,
like I've been doing pretty good,
raking up,
racking up points.
Like it's jumping up every single day because,
you know, I've got a decent size LP.
I'm probably not going to get into the top 1000. And so like my expectations are pretty minimal, right?
If I can get a couple hundred dollars, maybe a thousand dollars, I'm happy, right?
It's also the same with OpenSea.
Like my expectations are very tempered.
Like I don't expect that number one i'm going to get up
to a a really high chest because i don't have the uh the ability to but even if i did my
expectations are that i'm just gonna you know i might reveal a token maybe it's a low cost nft
maybe it's even just a claw pull whatever but i'm doing it because i don't
want to just i don't want to be sidelined and i think if you have tempered expectations going
into any of this then whatever you get you will be grateful for now if you're somebody who's spending
you know six figures because you're really trying to farm because you think that you know like what happened
with the first season of blur is going to happen again i'm not saying it won't but i mean i just
don't see another season one of blur happening again where you know people made seven figures
i could be wrong but i just don't see i don't think we're we're in that type of world anymore. I think we're in a more realistic reward world.
But I could be wrong.
Yeah, the other thing, speaking of which,
while we're on Project X,
a piece of news to hit on
before we get into a couple of other topics of the day,
daily market update, more, you know, all that good stuff.
Project X announced yesterday,
for people who missed it,
ApeCoin on Project X.
So they've talked about the hyper-financialization of ApeCoin,
obviously one of our sponsors here on the show,
currently printing, I think, the best APR on Project X.
Maybe not, but it's pretty close there.
So something I'm definitely going to be getting into for sure.
But for those people who missed it,
ApeCoin now on Project X, again, I think I saw
200% APY, which is, by the way, it's funny, it feels like a really good spot for it. I kind of
shared my thoughts on yesterday, just excited because I've been obviously in this world,
sort of my two worlds colliding. I'd love to see it. I was talking to Simple Farmer about sort of
what that looked like and how
that's a big deal for them to be on Project X. Obviously, Project X talked about it. We saw
Lambo Land and Bobby talking about being big fans of Ape, so they're excited to work with them.
I'll be honest. I loved ApeCoin on Solana. I thought it was a good move because that's where
liquidity is traded, but I think there's a mind shift that has to happen there for people to say ApeCoin on Solana.
Like, I don't think ApeCoin feels native to Solana, but I think it needs to be there.
It's like sort of an opening kick down the gate.
ApeCoin on Hyperliquid, ApeCoin on Hyper EVM, ApeCoin on Project X.
People, like you talk about them using the idea of hyper-financialization
in the idea of hyper-financialization and what that means for them to have it constantly traded
and what that means for them to have it constantly traded and constantly used.
and constantly used. And now that I'm seeing it, I'm looking at it and saying, okay, I've been
doing pump hype pools. I'm going to split those into two and do a hype eight pool, maybe even a
pump. Maybe I'll do all three and kind of combine them in different ways. Because why wouldn't I,
if it's earning max APY or APR, getting me towards that ultimate airdrop.
I'm now in the top 800, closing in on the top 700,
which, you know, it's like anybody who's active on there
has a real opportunity.
Could be a great, you know,
a lot of people think that's going to be a really good airdrop.
Those points are going to matter.
I'm using OpenSeat for swaps to balance out my pools,
which helps my XP.
But if I didn't want to,
I do no fee swaps right on Project X
or eating those fees to get people to use it.
So I think that this move, ApeCoin on Hyperliquid, want to and do no fee swaps right on project x or eating those fees to get people to use it so
um i think that this move apecoin on hyper liquid it's hot take maybe is bigger than the apecoin i
think apecoin and solana was important to go first because of how tokens are traded i think apecoin
on hyper liquid is could be a major catalyst for them because people are actually going to move the
token around
a little bit more versus I think on Solana
maybe not quite as much. Thoughts?
Yeah, I agree.
I think, again, I think both are necessary.
Not necessary. Both are positive.
And I hope, I'm assuming it's not the end.
I'm assuming they're going to keep bridging
to more and more chains
as they kind of establish a full hold in each one.
I think the, I look at the intent of Project Raid, right?
Hyper financialization of ApeCoin.
The intent of Hyperliquid is to be the financialization kind of chain, right?
Like they have kind of stated where their brand is going to be,
the culture they're trying to build. It really just of chain, right? Like they have kind of stated where their brand is going to be, the culture they're trying to build.
It really just lines up, right?
Like Solana has a culture,
has a culture that is years old,
has a culture that is, yes,
part meme coin and trading and token
and used to be some NFTs and some other stuff.
And so it's a little muddied.
But like, I think with, you know,
with Hyperliquid,
you kind of have a bit of a fresh slate
to kind of come in,
do this thing,
really effectuate
the mission that you're having with Project
Raid, and
yeah, we'll see. I saw that, I was looking
this morning at pools, because I
think right when they
announced yesterday, I think maybe
one person had joined the LP LP and the APR was like 2.5%.
And I'm like, oh boy, I really hope this goes somewhere.
And so then I checked again this morning and yeah, it was like 2.01.
I think the hype pump was still ahead of it, but it was the only one that was ahead of it.
It was second to the hype pump pool, which has been the highest.
We're down to whatever, 260 or whatever it's at
now, which is just a really weird thing to say when I get out of my inflated expectation crypto
mind and talk about, you know, real world stuff. But no, I'm excited about it. I think it's a
really smart move. I'm hoping that, you know, they continue to do this. I'm hoping that there's
reasons to swap, reasons to start collecting those fees for, they continue to do this. I'm hoping that there's reasons to swap,
reasons to start collecting those fees for the people who are doing this.
And yeah, we'll see where it goes.
I have no idea what it's going to do
for the price of the token.
Price of the token is impacted by so many things,
but I think it's, I'm glad they have an ethos.
They have a mission.
They are going, they are executing steps
towards that mission in a way that i personally think makes
sense and we'll see where it goes but no i'm excited i'm probably gonna do the same thing as
you steve i've been 100 in the hype pump pool i'll probably start to spread around a little bit
and uh and play around with some different pools yeah just imagine like if they had done this since
the beginning although i know there weren't necessarily the same setup setups but like they
needed to go through all the different things they They went through the DAO. Look, I'm grateful for the
DAO. They sponsored our show for a period of time,
passed in a massive vote
so that we appreciated the support from the community.
But this, like,
I do think Simple Farmer has
meaningfully leveled up what they have going on
over there by bringing in someone who has just
started to say, I'm not going to
sleep until we are everywhere. And
they are doing their Rapid ApeCoin deployment
and integrations across all of these ecosystems.
And I just, it's a very positive and bullish sentiment to me
that they are taking this seriously,
that they are going immediately to Solana, which made sense.
Then they're going to Project X,
and I should say Hyper EVM, Hyper Liquid,
and then ultimately Project X,
which is like, I think, an unlock for them with so many people there. The other thing about it,
I think you hit on something as far as Solana culture established, things like that.
People, historical perception matters. And the people on Solana, who are very big on Solana,
I'm sure distinctly remember Solana's for the pores and, you know, apes
dunking on them and all these other things.
And it's just, I think the culture in Solana is established, has been around for years,
and there are certain things that they go towards and certain things they don't.
And I think there's some hesitancy around Yuga, around apes and all the like.
I think conversely, to your point,
I mean, hyperliquid,
and you see, again, you see
Bobby and Lambo being like,
we're thrilled to have them on,
and you see those APYs cooking, which
means people are putting money towards it, which means there
actually was a strategy there versus
I know there were different types of
meteora pools, and we can get to that if we really want to get into the
weeds, but the pools that I like to use, the step pools,
there really wasn't one for Ape off the jump.
You could kind of do the, you know,
you couldn't do sort of the DLMM pool, I believe is what it's called.
But here off the bat, very simple user interface,
go on there, swap right on the site into ApeCoin, and deploy. And so I'm going to be
on there. I'm going to be doing it. I'm going to probably do it at some point later today. I'm
probably going to yank my funds off my pump hype pool and my fees. I'm probably going to swap on
OpenSea, kind of eat some of those fees, but also level up my box. And then I'm probably going to
deploy 50-50 into those two pools
and honestly see which one prints better
because it's also a matter of volume.
It's a matter of like, and it's also like momentum right now
because obviously Pump is trading like crazy
and Hype is trading like crazy.
We'll get into some of the reason Hype is trading like crazy downward
later in the show.
But Hype and Pump trading like crazy. But I think Ape's going to trade like crazy on there off the in the show but hype and pump trading like crazy but i think it's
gonna trade like crazy on there off the rip because it's new it's novel it's interesting
it's something different so um i think this is one where there might be an opportunity so i'm
looking forward to to getting in on that and i think it is the one of the first products where
it's like yeah everyone can get in on this and feel good about it. And I think, you know, it's a good place for Project Raid to be.
But, um, Joey, I saw your hand fly up a second ago and it went back down.
Let us know if you want to get in here.
If not, we can kind of keep cooking topics.
I think we lost Joey.
I think Joey's, he's nursing his hamstring.
He had a hamstring injury.
Uh, so he's, uh, he's probably doing some, some stretches, some toe touches and, uh,
trying not to irritate him. injury uh so he's uh he's probably doing some some stretches some toe touches and uh trying
not to irritate it um no i was just gonna add on i think it's really smart that we're seeing
all of these tokens go um go on to multiple chains and work with these other projects because
for so long so many of these tokens just sat stagnant um and now it's creating this like hyper liquid and
project x and right like they're creating opportunities now for these tokens and i just
think it's really smart for for these projects to do this and i'm probably i didn't know because i
haven't had a chance to look but i'm probably now going to split the the the money that i've
allocated for for project x i'm probably gonna do the same
things you i'm probably gonna split it in half now and do a a hype pump and a and a hype uh ape now
yeah good move um let's do this let's do daily market update i think that'll dovetail us into
our uh next topic and then we will uh keep cooking it's a daily market update, straight to your brain. Powered by ApeCoin, no hype, just chains.
Moving on ApeCoin, we bringing the heat. NFTs, fans out for never miss a beat.
ApeCoin on top, now we bringing the flex. The home of NFTs, figures now what's next.
Come on, my ApeCoin, we're looking for this time. It's time for one time.
It is time for the Daily Market Update, powered by ApeCoin, the home of NFTs, the home of Project Raid.
Now on Project X, ApeCoin has it all, bringing culture, fun, and community to the blockchain.
Dive in and see why ApeChain is on top.
And so we'll hit some majors first, and then we'll kind of go on to some individual specific things.
There's some interesting stuff to discuss this morning, but Bitcoin, relatively flat, down about 3% on the seven days,
but seems like it is a stable coin the past basically quarter of the year so far.
We'll see if that changes anytime soon.
Ethereum again, a lot of similarly speaking about a stable coin down 7% on the week,
but overall been pretty flat and trading in that 4,100,
say to 4,300 range for quite a bit now at this point.
I always like to sometimes throw in occasionally a tether is flat
just to see if people are paying attention.
Solana down to 212. Again, it
kissed that 250 mark at one point,
which was surprising
to see it run up there.
BNB coin, we never talk about.
It's the outperformer of the market.
We'll have more on CZ a little bit later,
but continues to cook up quite a bit
on there.
We'll hit some of the non-majors here in a second because I am thinking about some moves around these.
I have a portfolio of some ones we talk about on CWC sometimes.
So obviously, hyperliquid down almost 20% in two weeks based on what I'll show you here in a second.
We had our friends on Polygon yesterday.
We had our friends on Polygon yesterday.
It has stabilized after the market took a little bit of a run down.
Pengu actually up a titch on the day,
still teasing around that $2 billion market cap down 10% on the week.
I'm considering unloading my Pengu bag actually outside of what I need for my
abstract boost.
I've been increasingly less excited around there.
REC taking a bath.
They announced some new energy yesterday,
but again,
just has seemingly been, I know they hit an all time high and i am a big fan of wrecked and i bought the
drinks and my drinks show up tomorrow wreck's been down only for a while we just have to call a spade
a spade and what it is it has been down only for quite some time and you know as much as we're a
fan when we talk about it when it goes up it's important to talk about it when it goes down and
i think i mean i should i'm gonna play this chart out for let's
say a month and see what it looks like and i mean yeah at one point during the september that was
when i think those all-time highs september no way september 13th that can't be right that has
to be just a little drop in the bucket because i feel like yeah that's correct so hit its all-time
highs in august and it's basically been down for you know over a month at this point month month
and a half so um you know still up on a three-month time frame but it feels like for the past you know
probably it's called 40 50 days we've just been riding wrecked all the way down um was due for a
breather but it's kind of crazy astor was the one i was talking about the reason why hype is taking
a bath astor again in 24 hours uh that's in the three-month time frame because I had it on there.
24 hours, 20% up.
I have called this token and been paying attention to this token since the weekend.
I don't want to even say what the price was in the weekend because I guess if you look at that,
I looked at it probably at the $7.55 market cap point.
We're now closing in on, or I should say at the 93 cent point, and now I'm
looking at a 231. So I'm basically missing a two, two and a half X on this sucker by not properly
paying attention to it. NFT floors real quick, and then we'll jump into this a little bit.
Board API Club up just a tad on the day, but mostly flat in the NFT market across the board.
Moonbird's getting a little bit of a bid up.
Spencer talking at having an event co-sponsored by Solana at Korea Blockchain Week.
Perhaps token announcement sponsored by Solana.
I don't know.
Once thrown as a speculation in the war room.
Newton's relatively flat.
Lil Pudgy's down just a titch.
MeBits continuing to be up just a little bit. Seems like there is still a lot of love for me bits azuki jumping up as well
and uh i always watch chromie squiggle floor but i will never be able to afford one of those uh
meaningfully which always makes me sad but uh i think people on i'm curious what mythics have
been doing because i think mythics are one that i've been playing a little bit i have swing traded
mythics on open sea a little bit that's been been playing a little bit. I have swing traded mythics on OpenSea a little bit.
That's been one of my moves actually is I have swing traded mythics where I buy them
at like 0.29, 0.3.
They go to like 0.32.
I accept the Weeth offer.
I flip the Weeth into ETH.
I buy another one on the floor.
I've done that I think three times now.
And so that's helped my XP a little bit.
And I've been at worst neutral on that trade.
That's one of the places where
I'm trying to say like, hey, this is where I'm not going to give back fees, but I'm going to get
back some more XP. And XP to value if I lose 10 bucks on a trade still isn't that bad on buying
a Mythic, which is not an inexpensive thing to buy. So Mythics I've been doing a little bit.
I'm actually going to probably free some liquidity for another one of those moves today. But I've been doing a little bit more of that lately just to try and stay on top of it
because I think swing trading NFT is an opportunity there. And I think at some point,
I don't know, at some point we're getting a burb announcement for a token. At that point,
I have to think these things cook. So, Funfront, I don't know if you are in the Aster trade or you
are worried about Hyperliquid. I have heard that the platform, I believe, I don't know if you are in the Aster trade or you are worried about Hyperliquid.
I have heard that the platform, I believe, I won't say who, but a person, a friend of mine said that using Aster, it was dog water, which is a good term that you don't hear too often.
So it's a good use to see in there.
I've heard people say, look, like, PumpFun, everybody thought was going to get killed by name competitor here and it didn't work.
Curious how you're, are you shaking in your boots are you changing are you playing on aster are you deploying in both you have a position are you just sitting on the sidelines how are you doing
it as a person who is in the hyperliquid ecosystem along with me um i try not to talk about my aster
play um it had stabilized at about a buck 60. And so I went on the hyper liquid and took
out a long, uh, and it crashed just enough to liquidate me, uh, before going on its run to
where it is now. So, um, so yeah, you, you, you talk about your two to three X, uh, miss holding spot. Um, holding at a 10 X long was a little more painful, but thankfully I don't play in purpose
with money.
I can't afford to lose.
I treat it like my own meme coin bag.
So it wasn't, it wasn't anything that was going to completely wreck me or, you know,
retire me on either direction.
But, um, I don. But we'll see.
I think we're too soon to tell, right?
I think of news cycles
and something is the absolutely most amazing thing
for like a week.
And then maybe it fizzles, maybe it sustains.
I gotta believe that CZ and the Binance team have some level of campaign and long-term strategy for this thing.
And then I think the big question is, so then there's only so much liquidity out there.
They obviously set their targets to vampire attack hype up front.
Right.
Maybe we're starting to see that stable,
you know,
settle a little bit.
We'll see where that goes.
But then the question is,
okay,
after you go through,
you know,
a lot of people,
they're going to chase whatever's hot that week.
Right.
It's kind of like meme coins,
right?
Meme coins,
you were chasing the hot thing every five minutes, or maybe chasing the hot thing every five days. Now, my question is like, let's get
to next Monday. When we get to next Monday, what is the meta? Is there still a reason to buy Aster?
Are there still stories coming out there? Or it's like, okay, everyone came in, they made their
money, they got out. And now it's back to business as usual and business may be back to to hype it may be just something you know to
whatever the next hot thing that hasn't even been announced is um maybe everybody goes and buys
mythics and steve uh continues to swing trade his way into profit and uh better chess on openc who
knows um but i think the i think that when I zoom out a little bit
I do think
we've talked about like DeFi summer
I guess we're now officially in DeFi fall
that's the thing that I look
that I'm really interested in right like
hype kind of kickstarted
this whole at least in
my timeline right I'm sure someone's going to say like you know Mayhem and Phonics are, at least in my timeline, right?
I'm sure someone's going to say, like, you know, Mayhem and Phonics are, like, hitting me in the war room right now saying, like, dude, DeFi's been around for years.
But DeFi for the masses, DeFi for broader adoption is, like, two, three months old, I'd say.
It's undeniably a trend right now, real quick.
I'll let you keep cooking. But I mentioned Katana, which I think with a couple changes
could be a major DeFi chain for people
out in normies because if they just introduced
a Privy wallet
and made a different front end,
they could absolutely cook on what that looks
like because it's really user-friendly.
But it's undeniable that
DeFi chains and
DeFi apps are becoming
much more ubiquitous right now.
So yeah, I know people will tell you like,
oh, it's been around and you're just catching on.
But like Hyperliquid, Aster, Lighter, you know, you could go on and on.
Like I said, Katana is a chain overall.
It's the usage of DeFi and the ubiquity of people talking about it.
Like you didn't have people in the Ape ecosystem talking about DeFi.
Now you do on Project X. Now you do on DeFi. Now you do on Project Dex.
Now you do on Meteora.
Now you do with Project Raid.
So it's just, it's expanding its,
it's sort of addressable market greatly.
So yeah, keep cooking, but I agree with you.
Totally, right?
And so I don't think Aster is going to be the last one.
I don't know who's next.
I got to believe someone else is going to, you know,
seek to take all of this money, right? If I'm, if I'm a builder,
right. And I'm building chains that I'm building dApps and I see, wow, where do people really want
to spend their money right now? It's in DeFi products. I'm spinning up a DeFi product,
right? Like I wouldn't be surprised if we see other chains, right. Base others who are, you know,
they also, you know, they have De have d5 products but maybe not it's not
the main thing they you know people start spinning up the main thing on those you know chains in
those areas where they spin up their own chains it's more costly but and all the money's gonna
play around right so i'm gonna pay attention i'm gonna follow the money i'm gonna decide
you know what i'll probably do is like I did with Aster because I do think,
you know, I know you said, you said not financial advice.
I will also say not financial advice.
I don't know which one of these hits and which don't, right?
They all can't hit, right?
There's not enough liquidity to have infinite amount of money that every single one of these
enough liquidity to have infinite amount of money that every single one of these is an absolute cook
is an absolute cook.
so i will probably take the same play i did with aster which is make a small bet see where it goes
right if i'm if i'm down i'm down a little bit if i'm up i'm up a little bit and then i can decide
if i want to dip more than a toe in the water because I just have to believe like NFTs were in 2021, like meme coins were in late 2024.
The smart money is going to say, I can make something here.
People are going to use my product and that's a good thing for me.
Let me strike while the iron's hot.
They'll all spin something up.
You're going to have really good up. You're going to have
really good products and you're going to have dog water products. I love that phrase as well.
I was also really digging your use of the word titch earlier. I think I counted three or four
of them. That was a solid one as well. And we'll go play, right? So I'll tiptoe in and then I'll
decide whether I jump.
Like, I didn't mean, to be honest, I did that with Meteora.
I did it with Project X.
And I'll do it with the next thing.
Yeah, it's got to be within your own
risk tolerance and understanding. The other thing about it,
as far as people looking at price, like I made
the comment, I'm like, oh man, I saw this thing.
I missed a 2-3x on it.
Look, I didn't get into Hyperliquid
until the $25, $30, $35 range.
I don't remember exactly where it was.
I'm up really nicely on that
from the hype that I have staked in Kinetic,
and it's earning 7-8%,
so I'm perfectly fine there.
Right now, Astra is at a $4 billion market cap.
To Von Fron's point,
if it starts to catch steam and get more attention,
Hyperliquid, I believe, is at a $12 billion market cap,
like an FDV of like 45,
but like a $12 billion market cap.
And, you know, you have a $3 billion market cap in Aster.
I know there's tokenomics
and how much is distributed and all that stuff.
But when you start to look at the math,
you start mathing the math together.
If Aster is coming closer,
if it even becomes half of Hyperliquid
at a market cap level you still have
uh you know not quite a 2x to go on that so it's like we have a like people like there are things
you have to run into i had this comment the other day and by the way like cap and i were talking
about streaming on pump we didn't get it set up before he went on his vacation and we'll get it
set up probably this week next week week, we'll figure out.
We're trying to figure out and deploy it right.
A lot of people are like, just do it.
You can just do it.
I'm like, I want to talk to people who have done it
so that I know what I'm doing here
before I just like, you know, should I be spending?
Someone said 40 or 50 soul into it.
Somebody said, don't put any soul into it.
Like, I want to get experts who are doing this
and using it before I did it.
But we talked about pumping.
Someone said-
I'm one of those people that keeps telling you
to just do it, by the way, for the record.
Yeah, the man who says like,
I dip my toe into everything is like,
but when it's somebody else doing it-
Whole leg, just put the whole leg in, go.
Just go, yeah, whole hog.
I've had this conversation too, it's funny.
It's like, there are like,
I feel like we always say not financial advice.
I feel like your friends are the people
you can give financial advice to
because they're the ones who understand the risks at play.
And like, you know your friends well enough
to know exactly what they're saying.
And like, I'd look at Vaughn Fronten and be like,
if you were launching a streaming platform on pump,
I think you'd be talking to, you know,
Eddie and Jonah and everybody about it first
and making sure you did it right.
And, you know, maybe even toss in a text
to good old thread guy and all those good people.
But I think the thing about it is like, someone said to me, they're like, if you don't start
streaming this week, it'll be massive losses. You got to do it. I'm like, if it is a massive
missed opportunity for me not to stream today versus six and a half days from now, then I don't
know that I want to be in that opportunity at all because yes, it is. But like, you know,
you can take advantage of quick things like the
loudio campaign or whatever you want to call it. But end of the day, like patience is a virtue for
me. And my investment strategy has never been overly aggressive. Like I DCA into, uh, you know,
I DCA into, uh, you know, index funds for years and still do in IRAs and 401ks, et cetera. Like I am not Mr.
I'm going to go out and like, like I heard people tell me that they had a hundred thousand dollars
in IRAs and 401ks. And once the Bitcoin ETF came in, they went a hundred percent into that. I'm
like, you're already overexposed to crypto. And now you're doing even more crypto on top of your
crypto. It's like exhibit on pit my ride, decided to make a crypto portfolio and put crypto on top of your crypto. It's like exhibit on Pit My Ride decided to make a crypto portfolio and put crypto on top of your crypto.
Like, you don't have to do that.
Like, so I just think like,
my strategy has always been like,
look, I'm okay being a little bit late,
but not getting absolutely wrecked
because this is my job.
I play with my disposable income for sure,
but I try to be clever about it.
But I don't know.
So like, I think with something like,
to put the train back on the tracks, when I look at Aster, I didn't get, I missed it. Even though I saw it
happening, I missed it again, thinking there might be a little breather and an opportunity for me to
get in. And I'm, you know, not going to miss it forever. If it becomes a trend, like you said it
perfectly. If next Monday, we're still having this conversation. If over the weekend, we're still
having this conversation. And if that point it's's at a $5.5 billion market cap,
yeah, like I might jump in
and grab a bag or play along
or start figuring out a way
to get involved in that ecosystem.
They do have another airdrop
coming in two weeks.
So that could be an event
that leads to a lot of,
and that honestly,
that might be the play.
Airdrop in I I think, 12 days,
another airdrop for faster.
Play might be to just go on there,
play some perps,
you know,
try to mitigate risk as much as possible,
earn towards an airdrop,
and then watch if it shorts on the airdrop.
And then,
because I think 12 days from now
when the airdrop happens,
which is an eternity in crypto,
we're going to have a much better answer
as to what this thing is, because
we'll know what people are doing with those tokens.
Thoughts?
No. Absolutely. I think the
again, yeah,
12 days, you might as well just
launch this thing in 2030.
I think the other thing that we
underestimate, and I think it was Nill said this
yesterday, and by the way, the size of the brain on that man
Um is impressive. Although I do not like him calling 31 year olds old
Uh, where i'm sitting here 12 years his senior, uh, but that's a different discussion. Um
I think we don't you know, we have a you know, you and I are sitting here in the united states
You know in the mid Midwest of the United States.
We have a very kind of Western centric kind of view of the world, just given where we live.
Right. I think we underappreciate and underestimate what other parts of the world are doing and how you can, even though we're in a global community and crypto has no borders and all that kind of stuff, it kind of does.
Culture has borders, right?
And Binance in general teaches us that, right?
Aster in general probably teaches us that.
Go to NFTs.
Mochaverse and all things Animocha taught us that.
That just because it's not in your timeline, just because it may not be the thing that you are in, doesn't mean that there aren't people there and people with size and people that may even be more excited about it than, you know, people in your timeline are.
And so I think it's never a bad thing to experiment.
Experiment with the appropriate amount of size that you are potentially prepared
to lose. And I think that's a hard thing for us. I mean, like crypto has attracted,
you know, we, we, we always joke about being D gens, right. But crypto has really attracted
people who are very high on the risk tolerance, right? Like, I mean, you, you said it, which
Bravo on the exhibit reference, by the way. Um, if we could just have a whole show with like late 90s, early 2000s references,
I'm going to be happy.
I think our audience is probably going to tune out.
But, you know, your audience of one here on stage is going to love it.
But the, I do think that it's, it's okay to experiment.
Don't go all in, right?
I mean, go all in if you want to go all in.
I'll say Freedom Transact.
I started off the show with that.
Do whatever you want, but there's so much stuff out there, right?
And I think what I'm personally going to try to do, right?
And this is probably my own mission.
You guys can follow me or not out there, is I'm going to try to seek out things that are not on my timeline, right?
My timeline, my algo is highly curated to the world that has been my world for the past four plus years that I've been in the space.
And I've missed things on that, right?
Because I'm not paying attention.
Because things don't serve up to me, right?
Because things don't serve up to me, right?
Thank God for the war room, to be honest with you.
Like, thank God for the war room, to be honest with you.
Like, I feel like we have a good amalgamation of people in the war room that have different
algos or different group chats or different, you know, telegram chat, whatever, that can
give us that really diverse perspective.
I wouldn't be in most of the things I'm in right now if it weren't for the people in
the war room that, you know, kind of help balance the views that, you know, I get served
to me.
But I'm going to look into this.
Like I said, Aster and what they're doing over there,
whether you like it or not, whether the platform is good or not,
whether it has longevity, it's the next experiment, right?
Or I'd say it's a experiment.
I think there's going to be more experiments.
And I think it's going to be like,
we're going to find one that works, right? Most will fail. I still believe, I think the Gary going to be like, we're going to find one that works, right?
Most will fail.
I still believe,
I think the Gary V comment from 2021 about NFTs,
99% of them will fail.
I think 99% of the things in this space are going to fail,
which is why I never go in big early
and I miss the home runs on this one,
but I miss all the strikeouts too.
And I'm going for on-base percentage. I'm trying to moneyball
this thing, and we will take good
safe bets where they are, and
if I see that fastball going right
down the middle, and I'm
Barry Bonds on 10 years of steroids,
then I'll swing at that one. But
until I got that pitch, we're just trying
to get on base. Yeah, I
agree, and I think that's the way to play it. And I'm
trying to find some stats, by the way, on on defy because i know some people are challenging about
the time on it but it's like i think defy tvl is higher than it's ever been significantly right now
and the other thing is like like look the president's son came out and talked about defy
uh over during before the election season about you know how the powerful defy is and what it is
so i think it's inarguable that defy is bigger now than it's been and more people are getting
into it. And I think it's more accessible than ever for people like you and me who maybe aren't
major blockchain experts. But let's do this. I'm going to hit more, you know, and talk about our
guy CZ and then we can keep cooking because I know we have some other topics we want to hit on this
morning as well. But just to, you know, put a button on that one, um, agree with you, man. Agree with you.
Like I'm, I have a similar risk tolerance, similar approach on things. It's not for everybody, but,
um, you know, it's different stages of life too. I probably have a bigger risk tolerance if I was
23 years old and flush with money from meme coin trading. I probably would be risk tolerance if I
was 27 years old, 26 years old and was married with no kids, or I was single and just living in an
apartment with some friends, right?
I am 42 years old with two middle schoolers, two large breed dogs, and a house, and a mortgage,
and a couple cars, and bills, and school field trip payments, and all of the like.
And so my risk tolerance is a little bit different.
Now, if I was like rich and hit it big on something, obviously it'd be different if I hit a major windfall,
but it's a little bit different.
And just so you know,
after the end of the more, you know,
I know that, you know,
to Peterson, you were asking about the Pudgy
and the Pangu token.
I will get back to that
and talk a little abstract,
maybe on the other side of more, you know,
because I do think we had a pretty good discussion
in the worm about that yesterday.
Maybe talk about that at a high level potentially and hit on that.
The more you know, brought to you by ENS.
It's time for The More You Know, brought to you by ENS.
And we talked a little bit about CZ this morning.
Chen Peng Zhao, better known as CZ, is one of crypto's most recognizable figures,
born in China and raised in Canada, buddy.
He cut his teeth during building trading systems before launching Binance in 2017.
Under his leadership, Binance became the world's largest exchange,
at times handling more than two-thirds of global crypto trading volume.
But CZ's story isn't just about rapid growth, it's about controversy. at times handling more than two-thirds of global crypto trading volume.
But CZ's story isn't just about rapid growth, it's about controversy.
He played a key role in exposing FTX's shaky foundation in 2022.
Wonder if he had a little bit of a special interest there.
Sparking the chain reaction that led to Sam Bankman-Fried's collapse and ultimate arrest.
But regulators soon turned their attention on him.
In 2023, he pled guilty to violating U.S. anti-money laundering laws,
stepping down as CEO and accepting a $50 million fine,
which for CZ is probably the equivalent of about six cents.
In 2024, he was sentenced to four months in federal prison,
a striking fall for a man who once stood
at the center of the crypto universe,
but now he's back, fresh out, and already
running again. CZ is re-emerging as a force in the industry, proving his story is far from finished.
Don't fade CZ. And that was The More You Know brought to you by ENS. ENS does more than you
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Relevant to the comment here,
and I think maybe we can have a discussion
as deep as we want to go on it.
Toot Peterson said,
Steve quietly buries on Pudgy day what?
You know, and kind of,
because I mentioned I was thinking about
selling my Pangu bag.
Here's where I'm at with Pangu. Here's where I'm at with Pangu.
Here's where I'm at with Pudgy.
I think a couple things.
I think, number one, I'm probably overexposed to it to begin with.
I thought it was going to be a really, really big cooker, sort of the meme coin of the cycle,
potentially alongside Rekt.
Both of those bets are up significantly for me, which is good.
But down from, you know, where they were at
all-time highs, obviously, Pengu's got a big market cap. I think it's at like 2 billion right now.
So it's not small for a token that is simply sort of a meme coin that's tied to a brand that's
proliferating right now. Obviously, there's opportunities with Pengu ETFs, things like that,
that could ultimately help it move. But do I need more than the Pangu requires to get a booster in Abstract,
the first level booster in Abstract?
Probably not, and I do have more than that.
Could I use that money to farm OpenSea?
Could I use that money in LPs?
Yes, I could.
So those are my opportunity costs on there.
As far as it goes, and I'll be careful how I kind of go about this
because I want to have this balance take.
Abstract's been getting a lot of FUD lately.
Abstract is getting way too
much FUD. Way too much FUD for all things
considered. However,
you know, there's been these discussions
about sort of
insider trading things
going on, which I'd like to see some
proof on that. If people are going to come, you should come with receipts.
Abstract as a whole, which I am
grateful to stream on there. I actually checked the streaming platform.
We're ranking again higher, which wasn't
happening for a while.
We haven't had a flash badge in a while.
Feels like there was a couple months of
marketing campaigns baked in, but we haven't seen much since
then. They have some good games that they haven't
really activated and done a lot with. We're going to be activating
some stuff with some games on Abstract tomorrow on our end
though, so that should be fun for the audience.
Something we're going to do there.
We talked about the XP tiers being way too wide.
Sygar announced
some changes to the Abstract XP tier system.
Diamond tier will be more attainable. Yes, I know 10 million was a high
number. We'll add tiers
reserved specifically for super high tier XP
earners. They're a fair number of you.
We'll feature sub tiers.
He did this after TMA, a whale, in the ecosystem who's earning a ton of things.
In a lot of ecosystems, one of our guys, one of our friends and listeners of the show,
TMA was complaining about this and tweeted about it and saw the response.
He's not the first person to talk about this.
My worries about the Pengu token are this contagion idea that there is this spillover right now from the perception of Abstract into Pengu, into Pudgy Penguins.
And I'm not saying it's legitimate.
I still believe in, like, Luca, what he's building.
I believe in, you know, the Pudgy Penguin proliferating.
I'm struggling with the way that these things all connect right now and seeing that there's all these things with abstract as far as executionally from a marketing perspective privately i've had
conversations i'm not going to get into with people who have said there are daps that um
you know they're like man you know i we we're not getting the sport or we wish we hadn't built
an abstract type thing we've seen you know other things happen like by the way good vibes club
probably a good decision for them not to launch there ultimately when it was the thing of the day.
The streaming platform I've mentioned,
there's not notifications when people start streaming
like other streaming platforms.
It felt like that was coming when they did subscribes.
We generally rank low despite having more watchers
and viewers and listeners and other feeds.
Sometimes people with zero or one far above us.
The XP system, I feel, tends to be broken.
It feels clicky where I see people with, you know,
regularly saying I have 300,000, like 37X my XP on a weekly basis. My XP goes up and down and I
don't know why. I can't see. The NFTs tend to be underwater. The meme coins tend to be underwater.
This isn't FUD. These are the things that people feel about abstract. And I feel like that contagion
is spilling over into the timeline. We don't know when TGE is going to be. Now you have Get Rich Nick saying it's not going to be this year.
I wouldn't bet on it being this year.
I don't know.
Like abstract feels like it's going through some growing pains right now.
And that contagion for me is falling over into the whole Igloo ecosystem.
So anyway, I want to get your take on any of that because I know I spit a lot out there.
And I have, I think there's a million marketing ideas you could throw out that could help abstract,
at least continue to move. I, you know, we talked about like four or five in the,
in the war room yesterday, but like, man, it does feel like they've lost motion and
it's affecting how I feel about Pangu and Pudgy.
Yeah. Um, so there's, there's three thoughts that come to my mind right as you're talking and some
of this we've talked about in the warm room it's about what we haven't right so i think the the
first thing and this is not just an abstract thing i think this is an everybody thing
managing a long campaign is super difficult for any brand web web three, whatever, right? Like you don't see,
and I won't get into like, you know, uh, you know, web two marketing and kind of stuff like
that though. I know you'd love to cook in that seat. Um, but like, you don't see many brands in
general do year long campaigns of about anything, right? Like you will see, um, you know, when I was in the corporate world,
you know, I was, you know, working with, you know, large brands myself and you would measure
like your TV commercial. Like when do you actually start to see like kind of burnout? Like people
have been like, okay, it's not actually getting the views, the clicks, the ratings, the whatever
that it used to. People are tired with this idea. Time to move on to the next thing, right?
It's human nature.
And so Abstract, they've been at it for, what, eight-ish months now?
Because, you know, they launched, what, January?
So it's September, so that's eight months.
They're on an eight-month campaign, right?
It hasn't been in sprints or seasons or things like that, right?
Like, you know, shout out to the old Starbucks Odyssey team.
Y'all did a really, really good job keeping our attention over the course of a year because there were little weekly sprints that laddered up to little quarterly sprints that laddered up to a little annual sprint.
And it fed into just human psychology, right?
So I think Openc they're they're
doing a better job a little bit now like you had a previous version of the you know the farm get
your xp now you've got the treasure chest thing um so you know maybe it's not quite a sprint but
they're definitely not marathons you know they're they're running miles instead of marathons now so
part of it is like you've got to, you've got to match your marketing to the
human psychology.
It's even harder in this space because if it's not making me money in the next two days,
I'm on to the next thing.
Right.
And that leads me to the, this, the opacity of it.
And I think opacity goes two ways, right?
In one way,
we hate knowing exactly what's going to happen because we love the speculation and we love what speculation does to the number go upness of our
tokies and our JPEGs.
And so part of it is like, yeah, the announcement of the announcement,
we make fun of it.
We also kind of love it because we, we want the timeline to go crazy and speculation and people to buy off
speculation so I can sell into a run up and make money. But then we hate it because I'm like, well,
I don't know what to do now. Right. If you, if somebody just said, hold Penguu it's gonna like trust me right right then maybe we do right we look look
at doodles right very early in the what was what became the dude campaign right and i forget what
you know after the the tge and stuff like that but the team told us put your doodle into space
trust me we put our doodles into space guess what happened the people who put your doodle into space. Trust me. We put our doodles into space.
Guess what happened?
The people who put their doodles into space ate at TGE,
more so than anybody else because they ranked up the space miles, right?
So people were mad about that, by the way.
I was like, they literally told you what to do and you just needed to do it.
Like on your show, on your show, Julian said, put your doodles into space.
That is the alpha.
It was like April of last year.
And I did it that day.
Right.
And so it's a, we, we, we, we like it both ways.
We want to know what we're supposed to do, but we don't want anyone else to know because
then they can speculate and make our number go up. So, and I, and I get what they're trying to do, right? They don't want people to
farm the system. They don't want people to hack and create bots that just buy and sell mean coins
or buy and sell NFTs or auto log in and tip, you know, the bots that, you know, come in and tip
streamers and keep telling you headshot on your show, which maybe they're just complimenting your,
your really nicely framed headshot, you know, with maybe they're just complimenting your, your really nicely
framed headshot, you know, with, with your lovely web three background, who knows.
But I do think there is, there's a balance somewhere in the middle, right?
I don't know if it's, you know, it would appear that the abstract team isn't hitting it based
on where the timeline is right now.
But who knows?
Maybe that's not their KPI.
Their KPI may not be what does the timeline think right now.
Their KPI could be what's the usage and what are the dApps coming in and what's the activity and the number of wallets and whatever.
So who knows?
I think the last thing you talk about spillover across the ecosystem, across the Igloo ecosystem.
And this is,
I think the pros and the cons of having somebody like Luca as your founder,
right?
Luca is a ridiculous talent and an incredible strength for the Igloo brand to
have when he is involved.
Right.
And when,
when,
when Luca shows up and Luca starts doing his thing
and is being Luca,
and we're seeing him in Korea on the timeline right now, right?
Things are good, right?
People get excited.
You are ready to run through a brick wall for that man
because of how he pumps you up
about whatever the next thing they're doing is.
But when he's not there,
and he largely hasn't been there on abstract,
he's letting the abstract team run,
which as a CEO,
you've got to be able to delegate to your generals
and let them run and do their thing.
It can be seen as a negative
because you're like, well, where's the guy, right?
I wanted to see the guy, right?
Like, you go to,
we make a really random reference guy, right? I wanted to see the guy, right? Like, you know, you, you, you go to, we make a really random reference here. Right. But like, you know, you go to see Hamilton 10 years ago and Lin-Manuel Miranda is, isn't there. And it's the understudy and you're like,
I mean, I'm sure it's going to be a fine show, but I kind of came here to see the guy. Um,
and so I think that's a, that's an interesting thing that he's going to have to balance as a leader. He can't be everywhere at once. He shouldn't be everywhere at once. And he's going to have to decide where his presence is actually creating the greatest good for his company.
of his users and his community and his customers like he's doing right now in Korea. And to be
honest, sometimes that is nowhere near us because he needs to be talking to investors and ETFs and
VC companies and doing business development deals in the back, behind the scenes. So he's got to
figure that out. I think he's also going to have to make sure that he continues to put a really strong team
around him that can do all of these things when he is not there. Maybe not at the same level as him
because he's just got the ethos around him, the riz, as the kids are saying. But they've got to
be close and they've got to be able to do all the things that he's doing, even if they don't have
the same gravitas that he does in the public sphere it's funny uh interesting reference i saw
hamilton 10 years ago with linman moro miranda's understudy so uh and that was actually i knew that
that was happening still at anthony ramos jonathan goff and david diggs and leslie rome jr and so
and so forth it's just he wasn't i knew he wasn't going to be there so this wasn't like a like a
bait and switch type thing and the understudy was actually really, really, really good.
But to your point, not Lin-Manuel Miranda, who, if you want a really niche reference,
if you rewatch Sopranos, you'll find Lin-Manuel Miranda has a cameo as a bellhop
back before he was super famous or big on Broadway,
when I think it's Tony and maybe it's Pauly
are on the run for something
and leaving, getting laid in a little for a minute.
So pretty good.
I think it was like the Tony and Pauly episode
where Tony felt, Pauly's feeling separated
and more Christopher love there, et cetera.
Anyway, you know, to your point,
and I see like Be Epic is our favorite abstract bowl.
It says,as says true believers
will eat.
The thing is here, if everyone is here for XP, then the
token just fails. Agree with both of those.
Agree with what Lukas said. One of my
biggest concerns with abstracts becomes the following again
though. True believers eat.
Abstract XP eat. Little pudgies
are going to eat. Big pudgies are going to eat. There's going to be million dollar
streamers. Like,
the amount of mouths to feed at a TGE for a chain that doesn't have a lot of tvl that doesn't really
necessarily have killer daps that could kind of pick up and move that are kind of unique to them
there is a little bit of a concern with kind of being able to deliver on that not say he can't
he's great he's always delivered for everything he's
put out there, but
there's a lot of hype around that. On top of
saying Pengu's going to be the biggest meme in the world, on top
of Pudgy Pengu's proliferating, it is a lot to
bite off, and so it's a lot for any man to bite off.
I mean, you give a couple examples because I don't mind sharing
these publicly. It is what it is,
but I talked
about Abstract losing its motion. It felt like they had
a couple of big launches, and since then, it's been like, Abstract August is coming, Abstract Autumn's coming, I talked about like abstract losing its motion. It felt like they had a couple of like big launches.
And since then it's been like abstract August is coming,
abstract autumn's coming.
And it's like, that's not getting people excited.
It's actions that get people excited.
So for example, I gave an example,
like run a monthly abstract games for a period of time.
You have a streaming platform to do it.
You have different formats.
Like one month it's meme coin communities.
One month it's PFPs and abstract.
You know, another month it's influencers.
You juice the pot with XP, abstract NFTs, and memes,
which could be donated.
You juice it with Pangu.
You have a mint where people can pick a side,
and you can only mint one token for those people.
And then, you know, people watch and they cheer for their team
because they're going to get a percentage of the prize pool
if their team wins, right?
And you can even have those NFTs
be tradable on the secondaries.
There's some diversified teams.
Somebody could buy all the teams.
Or you make them soul bound
so that you have to root hard.
You can decide on what you think
the best strategy is that.
People play, they'll stream, they'll tip.
Two to three tourneys,
two to three days each
so that there's sort of a final
that people can watch.
That's one example of things.
Another example, you have a streaming platform.
Collect SMS and emails and notify when people go live.
Like, seems like it's a logical thing
that you would have on a streaming platform
is you would have SMS and sort of emails
and notify when people go live.
Have happy hours where you randomly tip
or extra tip a streamer,
and you actually tip the tipper then too.
So then people are encouraged to tip
during those happy hours.
So you have a lot of tips going on.
So your streamers are making money.
People are tipping little bits here and there.
And you surprise certain tippers with things.
You know, you could have a blog,
which helps, you know,
you with SEO that helps promote via partners
and email newsletter to drive awareness,
collect emails, co-op streamers
to do interviews on new dApps.
Like be, you know, be the PR firm that puts media tours on for your dApps.
Like, these are a few small, like, tactical suggestions as an idea.
But the idea of having this, like, again, long-term marketing plan,
every, Be Epic, thank you for the tip, appreciate you very much.
You know, it's definitely super helpful.
I think it's like those long-term marketing strategies
of, you know, even retail holidays.
We've been saying this,
Cap and I have been saying this since 2021.
You have Christmas or the holiday season.
You have New Year's.
You have 4th of July in America.
You have, you know, summer sales.
You have winter sales.
You have New Year's sales. You have, you know, sales, you have winter sales, you have New Year's sales,
you could have leap day sales on those things.
There are so many retail holidays to play around with.
You could try to go past Amazon Prime Day.
Retail holidays, do activations around retail holidays.
VFriends does this incredibly well
with SMS and text notifications.
No surprise, they sell out.
Things they sell tend to do well in secondary.
The hats, the cards, they all do well in secondary. All of these things are the sort of marketing
playbook that you would hear from the MyWeb2 world where it's like at the beginning of the year,
you kind of set your intentions. What are our goals? I talked about it before. Progressive
insurance, we might say we're trying to get more people who bundle home and auto insurance because we do really well on
the people who just have car insurance, who are higher risk. We price them well, but we want more
bundlers. So with that in mind, how do you split your pot 75-25 onto this group of people and this
group of people? Okay, now that we know that's our intention, what is our marketing plan for the
year? Are we going to have strategies? Every company I worked at knew what they were going to do months out and they would change it based on market conditions. They would change it
based on what they were doing. Obviously the space moves quickly, but knowing that there was like a
plan for all of these different sort of, uh, you know, launches of dApps, retail holidays,
streamers, like all of your, who are your 10 core audiences?
What does your addressable market look like?
What are your core consumers look like?
What are your core users look like?
Is it concentric circles?
Is it a funnel?
Like there are so many things you design around these things.
And it feels like those things
aren't in place at Abstract.
And again, it's not FUD or knocking them.
I like a lot of games on the chain.
I play the Parade Nation Arcade.
I play Death Fun.
I play, you know, I love Newt, who's a regular dimensions. I've, you know, traded some NFTs. I play the Parade Nation Arcade. I play Death Fun. I play, you know, I love Newt,
who's a regular in the mentions.
I, you know, traded some NFTs.
I like the streaming platform.
There's a lot of things to like about Abstract.
They have a great community.
But all the things I mentioned earlier
are these things that are separating it
and driving it into some,
you know, bad spots for a lot of people.
And I think it's having contagion
on the rest of the ecosystem.
And I think it's solvable.
I just don't know what the plan is there. And I think for a lot of people, And I think it's having contagion on the rest of the ecosystem. And I think it's solvable. I just don't know what the plan is there.
And I think for a lot of people,
and I'm just, again,
I'm speaking based on feedback I'm seeing
and based on things I'm seeing in my DMs
because the team seemed unaware of the,
like we talked about the tier split
on this show months ago
that once you get to gold tier,
you're not getting the diamond.
So people are not motivated
to do certain farming
or other activities or things.
And I know they say no farm wars,
but like, I know they're changing that.
But months later, they're like,
okay, we hear it, we're changing it.
Like, you need to have a better ear to the ground
on that stuff because that's been a thing
that people have been saying since the beginning.
So I just, I don't know.
Like, if I keep hearing,
you won't believe what's going to come on abstract,
like a BuzzFeed article type thing.
I don't know that that's going to
continue to move the chain and all the things i mentioned earlier from the clickiness that people
talk about to the certain people eating that other people don't see to the like it's just it's piling
up and i just think they need to pull like there's the old phrase from um toyota with their
manufacturing from a book called creativity inc that i had read by um uh the co-founder of pixar
and they have
this idea that they created a Pixar, the idea of like, pull the supply chain. Anybody can stop the
supply chain of Toyota. And what made them more efficient is that they thought it was going to be
less efficient. But what happened was anybody stopping the supply chain when something going
wrong, that they were empowered to do so. And they fixed problems before they happened. And
they ended up moving quicker. They were more efficient. They were better products.
Someone on that supply chain needs to pull it and be like, hey,
here's a dozen pieces of feedback
and we should sit in a room for two
days on an offsite until we solve all
of them and come back with a plan, and then
we should go announce our plan on
a stream with Eli or one of your big streamers,
Mirianne, have a thing, do an
abstract day where you talk about the next
phase of abstract and what it's going to look like,
make it an event, put together some slides slides put together a huge presentation you know i love
some slides like address the problems you're hearing in the market because you can pivot on
it and it's not like it's this too late to fix thing it's just you want to see it fixed from
some of these awesome companies like abstract like igloo and it feels like right now it's just the
motion is is kind of lost and it's like we're fixing the xp system band-aid on a hatchet wound thoughts oh i have many um when you mentioned
buzzfeed i'm trying to think of like you know should they be like putting out surveys of like
you take this survey to figure out which meme coin you are uh but i would not recommend that
it actually works those things work surprisingly well they were still a period of my life where my wife and I would just continue to send polls to each other to figure out like, you know, you know, which Disney princess you are for sure.
Yeah.
I was always mad at that one.
I kept getting Snow White and I'm like, nah, that's not my vibe.
So boring.
Yeah.
Yeah.
But no, I think it's a, again, abstract is a, I mean, if I think about their life as abstract with an in-market product, they are a less than one year old company, right?
Less than one year old companies are not going to get everything right.
So I'm going to give them some grace on that side.
But I think they are a well-funded, well-resourced, you know, with, I think, some really smart people in the room, less than one-year-old company.
And so, no, I think everything you're saying makes sense.
I also love how it said, like, hey, let's not get you going down a deep Web 2 sales and marketing talk.
talk and the first thing you bring up is email and sms uh and i was like well there goes that
And the first thing you bring up is email and SMS.
And I was like, well, there goes that.
um but um no i i think again i i look at that um actually i i i don't know if when i was uh away
if you guys talked about rect but i i did want to bring that up because i think you're seeing again
so much smaller scale and like the product that they're launching, but you see the little things, right?
If I use the microcosm of what Rekt did, right?
And I'm going to say did, not doing,
but like they said,
we want to sell a million drinks in our first year, right?
They gave themselves this audacious goal.
They said, here's the thing.
They said, hey, we're going to have drink points.
We're going to have Rekt coin.
That's going to be the way
that we're going to reward people for using our product.
Go out and buy our product.
And outside of the base drop where they were very clearly communicated, no rewards of this one, they had some reward in some way, shape, or form.
It was points.
It was your Jupiter vault that unlocks in a month.
It was whatever.
And then as things went wrong, as things changed, they adapted.
You talked about it. It was whatever. And then as things went wrong, as things changed, they adapted, right?
You talked about it.
They adapted the whole ETH wallet thing over the weekend, and people are going to get their ETH now from the MoonPay drop.
They did it in sprints, right?
We all got excited for who's the next drop going to be.
Each drop was executed really well.
You didn't have to wait a ton of time between
the announcement and the drop um and it kind of went it was this sprint by sprint it led up to
this mission and they hit their million cans in the first year and now we're gonna now you know
i saw they announced the energy drink uh excited about that excited to see how they expand the
product line um but it's these very little, small, simple things.
And granted, they're not launching a chain and trying to keep streamers
and developers and users and traders and all these other things satisfied.
So not trying to say it's just as easy as being active in the Discord
and figuring things out.
But I think there are some lessons there, right?
Real clear goal, really set sprints.
You chunked up your year in these different milestones.
Good communication, good execution,
and little things along the way,
like their YouTube series,
like being on the timeline, like all these other things that kind of help you stay involved along the way.
I got to believe, to your point, the abstract team with the resources and the brainpower that they have there could sit in a room for two days and kind of figure that stuff out and build something that, to be honest, makes us forget that it's been eight months.
Makes us just wondering like, hey, what's going on the next four weeks?
Really excited about this sprint.
And then come November 1st, they announce the next thing.
And then December 1st, they announce the next thing.
And whether it's any of the suggestions that you put out there or something different,
you can keep our attention.
You can keep dangling the shiny object in front of us.
We're going to follow it.
If our previous conversation around Aster and Hyperliquid and all that stuff is proof attention, you can keep the dangling the shiny object in front of us. We're going to follow it.
If you have our previous conversation around Aster and Hyperliquid and all that stuff is proof point, we will follow shiny objects in this space, right? It is the one thing that you can
damn near guarantee in web three that we love ourselves a good shiny object. So just keep
putting shiny objects out there. And I think it probably solves a lot of the fun. It keeps your usage up.
And to be honest, it probably gives you a really, really organic way to highlight whether it's new apps, new coins, new NFTs, new whatever, because you've built in that mechanism that keeps the crowd hungry.
Yeah, I agree. the crowd hungry yeah i agree um you know and i i've the other thing i'll say on this on the wreck thing because i want to actually kind of almost
pivot to that a little bit because i know we're going to beat the abstract conversation in the
ground a little bit um i i think you mentioned wreck and kind of them doing well what they're
doing with their sort of wave marketing campaign and things they've done with that with the various people they've gone to your your thoughts on
the energy drink that they announced because i i have some thoughts on this but i want to kind of
kick your way uh to get on it because i i you know it's funny like actually i'll share just two quick
ones one i know somebody said like why haven't they gone to hard seltzers they should have gone
energy drinks alcohol distribution is not only really difficult, but it's actually alcohol is an industry that is falling backwards.
Functional beverages are jumping way up.
The other thing is, I don't know what, three weeks ago or something,
they announced a partnership with the FaZe Clan.
Those people drink energy drinks and have a massive reach.
Feels like a distribution plan for a new beverage category, right?
Oh, I love it so much.
I love it so much.
We talked a little bit about this in the war room, but I'll share my thoughts here as well,
right?
Like, yeah, I agree.
Getting into alcohol, I've never made alcohol.
I've talked to people who make alcohol and it's really hard.
And there's law.
I mean, just in the US alone, you have to deal with 50 separate states,
let alone whatever you're going to be doing internationally. Let alone, to your point,
is the broader market a place that you want to go play into, or do you want to go into a growing
market? So decision alone, just outside of their previous deal, which again, I think is a brilliant
move as well. So I think functional beverages... Now,
could they have gone into
these mushroom-based
things or more workout
focused? Maybe they will.
Energy sounds like a really good place to start.
I see a strategy.
You see them announce a partnership
with...
I forget who's the parent company that has a deal.
Game something or other.
Yeah, I don't remember, but I remember it was a big deal.
Yeah, but again, they're going to have their brand name,
their logo on the FaZe Clan esports jersey, right?
You're going to see the brand.
Now they're going to have a product that they can sell to a customer
who is already
in that ecosystem and buying that product. Right. And I'm sure they're going to start to expand and,
you know, new flavors, new, whatever, right. Like you see the pieces coming together. It starts to
make sense. Right. And it's like, I'm going to guess, I, I have no alpha here. Right. You know,
I know people close to the team, but yeah, I'm not close to OV or Mando or Tabs or the team directly.
But I'm going to guess that that plan was hatched
like six to 12 months ago.
And they said, hey, year one,
we're going to go into carbonated water, right?
And we're going to go down this path
and we're going to sell a million cans
and we're going to do it this way,
largely through a Web3 e-com distribution, a little bit through a 7-Eleven because we want to test retail distribution, whatever.
There was probably a very organic plan that was built out or one that was kind of like maybe cobbled together throughout.
Just to your point, things change, markets change, and they may have had to pivot and adjust.
And at some point and said, okay, phase two, we're going to go into functional beverages, right? You could go into energy drinks and e-sports and gaming would make it a natural
thing. Maybe we can go into more, you know, health and, you know, protein or something like that.
And they would have signed a different distribution partner, right? They would have signed with,
you know, crunch fitness or somebody and distributed energy drinks and hydration,
you know, electrolyte drinks in gyms and, you know, fitness sp or somebody and distributed energy drinks and hydration,
you know, electrolyte drinks in gyms and, you know, fitness spas, whatever.
Like, but it makes sense.
They're expanding their product.
They're getting distribution.
Any good founder will tell you that distribution is probably the most important thing that you can focus on, right?
A lot of early founders, first-time founders will focus on product.
They want to make the best product ever.
And they assume that if you build it, they will come.
I can tell you there's nothing further from the truth as a founder myself.
You've got to think through distribution.
You've got to think through how am I actually getting this product in the marketplace?
They are thinking through distribution.
Their phase one, their distribution was,
I'm going to leverage the DGENs in my community,
the people who supported my brand from day one,
that are going to be, that either love me to love me,
or they're going to love me because I'm going to give them some tokens as a reward.
That was a distribution plan for phase one.
Distribution plan for phase two,
I'm going to sell energy drinks to people who love energy drinks.
Kind of seems like a no-brainer in hindsight, but there's thought process. They didn't just make an energy drink and said, I don't know, put it in seven 11. No, they set up distribution.
They set up the product. Can't wait to see where they go with this. Right. And I got to believe
that it's not going to be the last thing they do because they're very, very thoughtful of matching
up product with distribution. Yeah. I mean, it's funny because I said for years that revenue should matter and it didn't now.
Everyone's like, it's revenue generating season. I'm like, that's been the season in business
for thousands of years. That's how business works is you generate revenue. Now I know there's some
growth companies that don't turn it on because they're growing. I get it. It feels like it's actually strategy season now.
And like people being like,
oh, you know, like seeing the direction
and where people are going matters.
And like, I feel like you're seeing Story Protocol,
Story IP outperform the market at the moment.
Story basically said,
we want to focus on Korea.
This is prior to Korea Blockchain Week.
They said, we're going to to focus on Korea. This is prior to Korea Blockchain Week.
They said, we're going to focus deep on Korea.
And they have since acquired IP that has connections to things like K-pop Demon Hunters.
They acquired IP, or I'm sorry,
partnered with IP and are launching IP related to that.
We're launching IP related to the Parasite,
like the parent company there.
Parasite's the first non-American film to win best picture at the Oscars
like they're acquiring the IP
they're finding ways to use it so that people
can like you know so it's like when somebody makes a
derivative I use this example all the time and like
I think it's kind of the idea that they go it's like
if Eminem wanted
to have people sample his music and make
money off it instead of people randomly sampling
you'd be like the blockchain solves for this.
Go to this site, press this button,
pay this fee and connect your music here.
I will earn a fee every time that you make money,
a small one, very small revenue thing,
like the way Spotify pays pennies on the dollar,
and you'll pay me a fee to use it.
And I'll license it.
And it's just another income stream for major artists, right?
The idea that derivatives, memes, et cetera,
can live off that.
The idea that the guy who owns the Pepe frog meme,
whatever his name,
is able to actually benefit
and make money off Pepe
instead of someone else making money off it as a meme coin.
Because people would spin up a meme coin
because they think it's funny and whatever.
Someone creates a meme, doesn't get anything get anything well you work through a story protocol
so they have a strategy they've talked about it whether it's successful or not that's that's to
be seen but your point about like wrecked and my point about story is that there's a clear strategy
there's a clear play there's clearly milestones like we heard bz say you know we launched this
thing with openc joey's been biting his tongue for weeks
about potentially this claw thing.
So they've had that in plan for a while.
And BZ tweeted like notifications on,
we're just starting,
end of the year is going to be packed.
So they have plans.
And I'm not saying they don't,
but it feels like Pudgy Penguins
lives on this spectrum where they have plans.
And I feel like Pudgy's always got the next partnership,
the next thing going and they're ready.
It just doesn't feel like that with, like,
sort of the abstract or even, like,
and Pengu feels like it might have some plans.
It doesn't feel like that quite with the abstract.
Rekt feels like it's there.
Story I mentioned feels like it's there.
And it feels like this is increasing.
ApeCoin, you know, again, ApeCoin,
they said, look, we want to hyper-financialize this.
We're putting it on more places.
Cut and dry.
So, anyway, net-net, I think it's probably a good note to close it out on. I want to get-financialize this. We're putting it on more places. Cut and dry. So anyway, net, net.
I think it's probably a good note to close it out on.
I want to get anything else here,
but I realize I have an advisory call at 11 o'clock I got to do,
and I probably want to eat some,
I probably want to eat taco-flavored beef
for the 56,000th time on my diet in the past month.
Diet's working.
It's not fun.
Still got to drop like 10 pounds. Um, but working on it. Um,
any other parting thoughts before we let everyone get out of here? I appreciate you joining me this
morning and, uh, and kind of ripping through me with cat back in the office tomorrow.
No, this is fun. I, I appreciate it. It was a good talk. Um, you know, I love a good, uh,
market marketing strategy kind of talk as good as the next guy.
I also did not pay Payne to say that.
But thank you, Payne.
Yeah, it was a big hair day on the show today.
I was trying to...
I didn't know if I was supposed to go this way
or this way with the adjustment.
I always go the opposite direction.
I don't know why my fidget is up
into the opposite direction of the part.
I can't help it.
It's just kind of how I roll. I don't know why.
Yeah. So I think we'll, we'll work through that. I'm, I'm, I'm sure, um,
you know, pain is going to have notes, uh, after the fact,
I look forward to those. No, I think, I think it was great.
I think the, the, the one thing I'll, I'll end with that's like, you know,
content, you know, topic related is, you know, I'm, I'm not the, I'm not a permeable like cap,
right. Um, I love cap cap is my, like, he's, he's the voice that's on this shoulder that tells me
like, just believe, just believe, keep going. And trust me, I've called him for that exact
type of feedback. Um, but I try to be somewhat balanced, right? What I'll say is there are even in markets,
you know, it's a red day, it's a red week, it's a red month, whatever. There are still lots of
lots of really cool opportunities in this space. If you pay attention, if you play with size that
you are comfortable playing with in wherever you're going, are you going to hit a 100x tomorrow like you could a year ago on
Chill Guy or things like that? Probably not. But can you find places that are EV positive in this
space still? Absolutely. Can you find places that are just fun and enjoyable, right? I mean,
I know we're talking about like, oh, there's no dApps, there's no dApps. There's a ton of places
to go out there if you're willing to look, if you're willing to go get outside your timeline a little bit
and find some things.
And there's still communities out there that if you're looking
for communities that you can join,
I will shout out the War Room on that one
because that is by far my favorite community.
So no,
thanks for having me. I hope it was
enjoyable for everyone else. Hope I didn't
completely tank the numbers on the show as you're closing
in on a,000 shows.
And Cap can come in and clean up the rest of the month.
Yeah, next week we hit 1,000.
Next week we'll hit 1,000.
That'll be a fun one to hit on in October.
So, look, thanks to everyone who came through this morning.
Thanks to Von Fronten for hosting today.
Big nil, obviously.
Much, much love and respect for hosting yesterday as well.
Grateful Eight came in on Monday for a bit of a shorter show.
Joey coming in and pinch hitting this morning.
Hope he gets better soon.
We will talk to everybody bright and early tomorrow morning at 8 a.m. Eastern time.
Have a wonderful, wonderful day, everybody.
Thanks for tuning in to Coffee with Captain, powered by 8Point.
We hope you enjoyed the show. And remember, nothing we discussed today is financial advice.
Until next time, keep exploring, stay curious, and we'll see you soon.
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