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Equity in Web3 Brands!? + Making Coffee with Captain from @dGenNetwork
Recorded: Jan. 2, 2024 Duration: 2:19:09Space Recording
Full Transcription
I don't even need to be the professional.
Let's fight on me, blah, blah, blah.
Started off with a bit.
Now I got coin.
I see where y'all going.
Been popping since web one.
Hella hooked on web two.
I was living
a dream, now I'm on web three, and it is what it seems, topping the pyramid schemes, I'm
telling you, I sell you a percentage on Nebula, shout out to this, yo, set it up, surfing
on the web and I'm shooting at three, I've been goaded when I got my T, I'm an alien
boy, from a different planet, yeah, so I got my drink, I'm riding in the 1920s, model GM, GM.
Welcome to Coffee with Captain.
Drop us a GM in the chat down below.
That purple box in the bottom right.
The space is also linked up above all the way to the right.
Appreciate any retweets, likes, and bookmarks on that one.
And we'll get rolling here in about 60 seconds or so.
Mama, Saki, Bomb, Hiroshima, Nagasaki.
Bruce Wayne been a dog.
And I keep it 100 to 1.
Cause I'm feeling kind of spotty.
Sipping on some rock and I'm sipping out octane.
The only thing around my neck is the box with a bat. Now I got coin. I see where y of spotty. Sipping on some rock and I'm sipping on octane. The only thing around my neck is the block to the beat.
Now I got coin.
I see where y'all going.
Been popping since web one.
Hella ho.
Gone web two.
I was living the dream.
Now I'm on web three.
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 Vince.
Yo, set it up.
NFT, Twitter, blockchain.
See him with the ghosts and we ballin' like the bronze hands
Crypto, crypto
We can make a trade, get a memo
But feels not fallin' for the FOMO
Listenin' to Coffee with Captain
You know we weren't wide-day loco
I ain't never gon' stop rappin'
Orlando, yeah, we workin' magic
We rockin' Ethereum entities
I just went and got me a half bass, man I gotta shout out the boys
Now I got coins, I see where y'all going
Been poppin' since web 1, hella ho
I was livin' a dream, now I'm on web 3
And it is what it seems, toppin' the pyramid schemes
I'm tellin' ya, I'll sell you a percentage on Nebula
Shout out to Vince, yo set it up
Freakin' the mood to choose one.
But it got knowledge to move, son.
I'm shocking in shades with my brother in shoes.
Yeah, them blues is coming.
Even though it's hard to pick.
Eeny, mighty, moe.
Soda on the mix.
No biting lips.
It's time to go.
Index number one.
No thumbs up.
You got to scroll.
Looking at the ghosts 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 in the drive with my brakes off. I'm A1, but a different kind of face off. This episode is brought to you by DGEN Network, the only community-based Web3 media network,
bringing you the very best content in the NFT and cryptocurrency space.
Please visit DGEN.network and check out our other great shows.
That's DGEN, D-G-E-N.network and check out our other great shows that's dgen d-g-e-n dot network
welcome to the future welcome to coffee with captain gmgm happy tuesday everyone
hard to hard to believe it's already january 2nd but here we are most anticipated coffee of the
year already steve uh It's been a...
Like, we're back.
I keep saying it, but I wake up.
I'm scanning the worm for 10 or 15 minutes.
I still don't know what went on last night, what I missed.
It is full-blown mania in the streets.
I guess you've claimed and you've got your LFG in an LP pool.
I have not even went to the
that's how far behind i've not even claimed my lfg yet part of me is i don't want to see the tesla
or two that i burnt in gas so i've i've waited to see is it even worth claiming before i i deal with
that ptsd but gm sir how you doing gm caps time to sack up whether you uh want to see it or not
it is there and you should claim it
I know you will yeah and I started playing first of all it's in the LP you called it
the LP pool which would say I put it in the liquidity pool pool but I did very on brand
very on brand for me I did I went LP with it although I'm debating because I woke up this
morning and it's already 2x from what I put in the LP. And so I'm sitting there saying to myself, how much is this thing really going to
run? But then you have this line. Steve, we're in a bowl that 2x, those are rookie numbers. Let it
ride, buddy. That's exactly. So here is the thing that I'm running into now. Now that we are in a
bowl, like I need to change my point of view. I've been trading some of those, you know, some of the
shit coins over on Sol and I've done relatively well. I done some two x's i've done some three x's i've
gotten wrecked on a few mostly thanks to chamber he's not as good at these uh as he is in the other
ones it seems um but i've in fact i think seven i think we gotta wait till tomorrow for a mid-mike
crisis but man we like the year of our lord 2024 and Steve is dunking on Chamber in the trading streets.
What a time to be alive.
It's pretty wild.
I mean, for those who don't know, Chamber is one of our DJ Network co-founders and he is incredibly good at trading.
He's incredibly good at technicals, numbers.
He's very good at running through these, especially shit coins.
Like he was alive last shit coin season.
By far,
I would say the most successful person in the war room. And this time I think that I have at
least made my money back on seven out of 10. And one of my losses was like $7 or something. So that
one was on me. The two that I am absolutely bombed on were the two that came from chamber. So, um,
that's where we're at right now uh but um here's when he gets
in those streets so he goes deep like some of the stuff i don't i i wonder where you even find some
of these the like he's like way deep in those those uh those streets i don't even know where
like is it a telegram group like where does he come out of these uh where does he come across
these really obscure meme coins steve? Yeah, it's very strange.
And it's funny because this goes along with that conversation
I was having with Jeremy from VFriends where I was like,
you know, he's like, what are your allocations?
And I was like, you know, 85, 87%, whatever it is,
just like long-term just playing the coins.
Then like 10 to 15% is like messing around in the NFT streets
and kind of getting, you know, free.
And again, for the long term, that's me just like making those dollar cost average bets.
For the NFT stuff, it's the community.
It's the utility.
Utility when?
Little teaser, I suppose.
The community, the utility, the ability to participate.
I'm over here making coffee, Steve.
Yeah, I already had.
Nice. to uh participate i'm over here making coffee steve yeah i i already had nice um the ability to uh ultimately like you know have these things go long term for me and then of course the one to
two percent there that i have uh that would be um you know the the shit coin streets right and like
for me that's just fun it's like throw a soul here and see what happens and um what i've done
in that though i've realized my mentality
is when I've gone two to three acts, I have just cut my, either cut my gains and let, let a moon
bag run, or I've completely just cut myself out. And what's happened there a couple of times now,
this happened with contract address. I got contract address, uh, and not financial advice.
Cause now it's like run like crazy. So I wouldn't even go near it personally, even though I still see people pumping it.
And it went like 2X and I'm like, sweet.
And I got out.
And then I looked the next morning and it's like another 9X from there.
And I was like, well, there goes my Klenosaur.
Guess I could have had that.
So it's just you start like looking at these numbers and realizing like,
what is the difference between being prudent and being greedy?
Because it would be prudent right now for me to cut my LFG out,
just take the couple of soul that I have here,
which is, you know, a 2X from when I put it in the liquidity pool,
and I would be done.
But now I'm sitting here saying, who knows?
It's called LFG that's got some memeability.
And when you start to have these conversations,
that's when you know you're in some level of a bull market.
Because I'm sitting here looking at it
and $200 free dollars at this point,
I'm like, that seems like a really good idea.
But instead, I'm sitting here saying,
well, yeah, $200 free dollars is nice,
but who knows how high this thing could go
and I'm staking it.
If I'm in the LP, I get another airdrop
that comes up pretty soon.
So I don't know.
So anyway, this is-
For everyone that missed it,
LFG was a token dropped on Solana.
It was, I guess, a vampire-esque attack in the sense that those eligible for a claim,
at least in phase one, were the big spenders in gas on ETH.
I think it was, what was it?
If you spent more than four ETH or something like that in gas, you qualified for a claim.
Airdrop two is going to the Solana users.
But part of the intent here was an effort to draw ETH users over to Solana and experience the lower gas transaction.
I got to be candid, Steve.
I'm just not a fan.
I'll be honest.
I'm not a fan.
But I'm one who, like I said many times, bring back the gas wars.
We're adults here. Men used to go to war. Now we need to allow this to mint a project.
I say, that was probably a bad analogy, but I say bring back the gas wars. I'd much rather
be able to at least attempt to have an edge. And if I get beat in an edge, fair and square,
I don't enjoy the solana
mining process like i i said yesterday i was going to go mint uh cats day one and we couldn't get the
website to pull up it was just a 404 error the entire time it minted out you know in minutes or
seconds and yeah i guess i guess i didn't spend gas. But again, the only way I feel I can play on Solana in a bull market is I guess I got to get a bot. To me, it was not... I've yet to have an enjoyable mining experience on Solana. And that's why everyone says, oh, it's the point. It's free. There's no gas.
not once yet had a good mining experience on Solana.
Every single time there's been an issue with the tech,
either I can't connect a wallet or the website crashes
or the transaction doesn't go through,
just fails multiple times.
I don't get it.
When that's like the value prop of the chain
is simple, smooth, easy transactions,
maybe so if there's no high demand.
But in instances of high demand,
I am O for my life on Solana.
Yeah, I had the same experience.
And I don't think Kat's mint wasn't like some hype.
Yes, it was an edition of only 222,
but she's dropped these on ETH before.
No issues.
It's just like, I don't know.
I was pretty bummed that it really,
like now it put a salty taste in my mouth for even collecting the piece.
I know it pumped to five sold, minted for three, pumped to five or six Solana.
It's back to mint price now at three this morning.
And I lost interest because of my minting experience.
Maybe that's just me and I'm i'm too uh particular on you know on the tech side
of things but yeah i probably went from i'm gonna vault this piece to i have other cath pieces i've
collected and i just i lost the desire to collect an art piece on solana yesterday yeah i mean uh
it's it's i don't think solana is a great uh chain for art i've said that before at least not as far
as drops go unless it's sort of an allow listed situation i think on soul allow list it's similar to you know any other chain like this
where i think um allow lists are probably the way to go uh as hard as it is and then even if you
leave a small allocation for the public like find a way um to get and again you know me like i like
the allow list meta says it best it really did it
feel actually no buying tickets on ticketmaster i felt like i actually have a shot like i didn't
feel i had a shot yesterday like my website i didn't even get it to load once and i was on my
desktop like it's just like web 3 is supposed to blockchain tech is supposed to fix these types of
issues not make it worse it was worse worse than a Ticketmaster experience.
Yeah, and like we talked about the other day when we tried to mint the Copium one at the same time.
And I'm sitting in an airport lounge trying to mint a project that is pretty vulgar.
So I'm zoomed all the way on the screen trying to hit mint.
And it just won't mint.
Like it just won't mint no matter how many times you hit the button.
You had the same experience as me.
Bunch was able to get through.
He was able to mint. Was happy for him. But I'm sitting here sitting mint, mint, mint, a little mint no matter how many times you hit the button. You had the same experience as me. Bunch was able to get through. He was able to mint.
Was happy for him.
But I'm sitting here sitting mint, mint, mint, mint, mint.
So, and then meanwhile, you know, somebody had like 200 in a wallet, right?
Like, it was like, so it's like very like bull market vibes in that sense.
We've seen this on ETH too, so I don't want to say it's soul specific.
But to your point, as far as us little guys.
I'm complaining because on ETH I know how to win and I don't know how to win on Solana.
So it is definitely bag bias here.
If it was on ETH, not that I've ever been that person
with $200 in my wallet,
but more often than not,
if I've wanted to get something,
I can get something in a gas war on ETH.
I'd already forgotten about Copium.
I truly have not been able to mint anything I've ever wanted to on Solana.
How crazy is that?
Yeah, and I would say we weren't the person with 200 in our wallet,
but there have been times when we're that person with 20 in our wallet
or 10 in our wallet because we know how to crank that way.
We know how to use BlockNative and other tools to ultimately get ourselves through.
So at least for me on Solana, I'm not as involved in that sense
as far as like the mint stuff goes.
So I think that that's worth paying attention to.
We're seeing some ordinal runs at the same time.
So the market is just absolutely cooking.
And on top of that,
you know, in the past week,
we're up, you know, a good solid 5, 10,
you know, to 10% on all the various,
you know, ETH, Bitcoin.
So a lot of% on the day.
Yeah, it was definitely a green day to kick off the year.
Yeah, even in the past 24 hours, Solana closing in on 10% up at 113.
Ethereum, 2300, lacking a little bit at that 4%.
Imagine this from anybody who came from the traditional asset world to be like, yeah, it was only up 4% in 24 hours. It's like, that's not,
that sounds pretty awesome. It's like, yeah, souls double that. And Bitcoin's almost double that. So
just absolutely ripping in a lot of those. I continue to DCA into those again, not financial
advice or telling anybody to do what I do. Cause I'm terrible at this. But I have continued to DCA into a few of the big
ones. I decided on this one, I might chase small little bags here and there as we're in these
down in the ground in the shit coin streets. But I'm not going to get crazy with anything
on my Coinbase or anywhere else. It's just going to be a matter of Bitcoin, Ethereum, Solana,
Chainlink, some of the bigger ones there. It's a very small bag of Ripple just in case it goes.
But I'm not getting generationally wealthy on these things.
It's just I'm finally being smart about them
the same way I would be smart about my traditional finances
when I'm DC-ing until I get S&P 500 to get 7% on the year
when 7% on the day is what we got on Bitcoin.
So that was an interesting sort of thing to be
paying attention to as well. But Cap, besides, you know, so you haven't claimed your LFG airdrop.
It is airdrop season, though. Are you going to go liquidity pool for that second airdrop on this
LFG and think this thing as the meme ability? Are you going to become a full on LFG bull poster who
basically puts yourself in regulatory risk with the SEC talking about how there will be future coffee with Captain LFG utility?
What is your play for LFG once you get it?
Are you going to LP it?
Are you going to swap it out?
What are you going to do?
I don't know the time period.
Did it go all the way back to 21?
How much gas did you end up spending?
Because if it was just the last year, I don't know.
2016.
It was 2016 cap.
Oh, wow.
Okay.
Yeah.
So I'm talking about like I am a small potato compared to you.
I can't believe I'm going to say this out loud.
14.54 ETH spent in gas.
So that is my gas number that came up for me.
And I am not a trader.
I am not actively in these streets.
So you're probably like double
that, so you're probably going to get, I got 2.8 million in this thing, I bet you you're going to
get like 4 to 5 million of this, which I think at current prices is going to get you, I mean,
I don't know, I have to look, it's going to get you like, you know, 3, 4, 5 souls, so you're going
to be in a pretty good spot there where you have the opportunity to cash out and get yourself,
cash out and get yourself
I guess a third of a
or like half
of a Bodoggo or you can
let it ride in the LP and
look for the second airdrop and see if it runs.
Well, that's my play with any
of these airdrops. It is airdrop season.
I have not been the most active
in the farming streets.
There are still some
probably some L2s and some
sidechains I need to go interact on and at least do minimum effort to qualify.
I'm a fan of these where I don't have to do anything new.
I qualify based on prior activity.
So I will claim it, whether I just dump it or let it ride, to be determined.
But what I am taking my airdrop farming claims into is doubling down on...
You're dollar-cost averaging into mean coins, I'm dollar-cost averaging into
friends and leaders in this space that I want to be along for the ride.
We've got our buddy Poppy here on stage, who's going to be joining us later this week.
We did confirm Friday, we're going to have a special quirky show with Poppy and Sin.
Steve Thursday, we've got the team,
a couple execs from the Magic Eden team
going to be joining us. I believe they're COO
and Chief Gaming Officer. Really excited
to get in a deep dive with that team as well.
Tomorrow, we've got
Ingy?
You got to help.
We're going to have to have
a practice conversation before tomorrow,
so I don't butcher the name live in real time.
Going into the deep, deep dive on doodles.
And as many of our listeners in today have tuned in for,
we've got special guests coming up here at the 9 o'clock hour.
Pawns is going to be joining us on stage,
talking all things frogs and making coffee.
Really excited about this one, Steve.
I'm not even kidding, our most anticipated show of the year. I don't remember last time we had this many reminders set for a coffee. Really excited about this one, Steve. I'm not even kidding, our most anticipated
show of the year. I don't remember last time we had this many reminders set for a coffee and the
frogs have shown up. It is an item. I've talked about I need to add to my quirky position. I need
to add to my frog position. I've got one over there accumulating my FRG monthly, and it went on quite the ripper last night.
I'm not saying it's any correlation with our show today
or our special guest or this teased announcement
that Pawns put out there,
but one that I've been a fan of and supportive for,
I mean, probably since the first time we had Pawns on this show,
maybe even prior to that,
just as we have often talked about,
we're so fortunate on this show, maybe even prior to that, just as we have often talked about, we're so fortunate
on this show. We so often have the opportunity to speak with leaders, founders, creators,
builders, really pushing the space forward. And Poppy, who we get to talk to on Friday with Sin
and Pons here today, certainly two of those leaders. And this model in particular of the gift of equity.
We saw yesterday in the news that Rekt Brands followed Pons' lead with the plague and made
a similar announcement. I think we're entering the equity meta era of NFTs. You see a lot of
rumblings, a lot of rumors around Moonbirds. Will Proof spin them off? Will they bring back IP rights?
The more I thought about it, I think the only way they do that is they do some sort of burn,
which leads to new art, which then could have IP rights.
But I think the ripple effect now that they could send is following a similar announcement.
Granted, it not being Proof, but spin up some new entities, some community-led initiative. the ripple effect now that they could send is following a similar announcement.
Granted, it not being proof, but spin up some new entities, some community-led initiative.
The key to all this, though, Steve, is there has to be something on the end of it.
There has to be some real-world business.
And that's what I'm so excited to talk about here later today is they've not done that just with making coffee, but there's a lot of other activity in this ecosystem,
certainly spearheaded by Pons and the team there, but really community-led initiatives.
This is the ethos that got me so excited about Web3 is not just building in public, that's one
thing, but building in public together is a whole nother level and excited to dive into more of that
today and really throughout the week. What an incredible week to start the year with just phenomenal guests yeah and it was a good
kick in the ass for me i'm sending a couple dms as we speak about potential guests next week
because i would love to it's funny like we go back and forth like sometimes we get feedback
from people that you know those mornings when we just run like monday even this week and go crazy
we have uh you know are the best and then we get feedback from other people. We love the guests you bring on.
So we try to balance it out,
but I really do think there's so much going on that we're getting back to
the point where I feel like we'll go ahead.
Cap.
you just reminded me like we,
we do have a guest coming on.
Like I,
I DMed after yesterday's news on,
we just talked about,
we don't have a day locked up,
but OSF and mandor are going to join us next week as well.
Yeah.
See,
like this is the thing where I feel like
in the bear market, it was a lot of us
talking, getting through those
high-level conversations, future of this tech,
stuff that you'll find in my book,
which I'll blatantly shill, as always,
up top. If you want
to move the space forward, if you want to move
Web3 forward, purchasing a copy of that book
helps it. It gets on bestseller lists.
It gets on lists that are trending.
Those are things that CEOs of Fortune 500 see.
And the whole point of the book is to show Fortune 500 sort of CEOs, local businesses,
and everyday consumers that Web3 and NFTs and blockchain aren't some big scam on the
internet.
It's actually better software, which is exactly what people like POMS are using it for.
It's a software solution throughout the world to do some pretty, pretty cool things. And to your point, so as always,
link at the top, any likes and retweets on that actually always appreciated. We're going to start
the push for the sales coming up here a little bit harder again coming soon. We're working on
some different things like I penned the article for CoinDesk with Scott. We have some other op-eds
coming up, some other interviews. I'm going to be reaching out to folks
to talk more about it this next few weeks.
So you hear a lot about it.
If you've already purchased one,
appreciate the hell out of you.
Get another one for a friend.
It's 30 bucks.
So at current ETH prices,
it's like 0.0015 or 0.013 ETH or something.
So relatively inexpensive.
And again, it means the world to me.
Helps move things forward and
for the for that price you can do a lot and again last thing i'll say if you don't believe me um
quotes on the back of the book chris dixon a16z uh co-founder uh is a quote has a quote on the
back of the book jacket gary vaynerchuk does two nobel prize winners are on the back of the book
with book with quotes saying that it is a legit book. So do us a favor, give that.
But that said, I'll get off my shit. I promise the background music is not like trying to give
Steve the hook there. It's like redundancy. Sometimes I do it during the opening and it
goes under the radar. Other times I'm quick on the mic button. It's a really weird thing with
Twitter spaces, but it's one of the hacks I've discovered with these things to where
if I get rugged on one phone, we're still alive. So I promised, Steve, I wasn't trying to rush
off the stage. No, no. Yeah, I get it. I get it. You're playing me out. But anyway, last I'll say,
up there, buy it anywhere books are sold. If you're in another country, let me know.
I did think, man, that was perfect timing as it hit. People are going to think I was playing
you out there, but it was like an accident, kind of, maybe. It's like subconscious mind seeping through.
It almost always hits at the right time, and it seems like it's like a secret message, you know?
I thought it was a theme song for Steve's book.
I thought he went so hard on marketing initiatives that he has a whole book theme song.
It is now.
It will be from now going forward.
I'm going to save the logging in from the bat phone until Steve Tartt's talking about the book.
And that will become the official theme song.
Thank you for that suggestion, Outer.
I probably should have some like some ridiculously corny stinger anytime I go in to talk about it.
Because I try to talk about it.
Because like I said, I haven't talked much about it last week.
But then next few weeks, I mean, on shelf date is in about three weeks.
So we got to get our get our acts together.
But that said, to your point about it, though, with people like Pons and others, like it So we got to get our, get our acts together. But that said to your point about it though, um, with people like ponds and others, like
it's fun because we get to actually feel like we're talking to grownups and adults, which
is awesome because not to say there's not the space can't be fun.
But when you talk to someone, I had this conversation, I was talking to Austin from, uh, from,
from doodles and like, he's a DJ.
And, but it was like, you know, I was like, Oh, I'm talking to a grownup now.
That's cool. Um, So I love having those conversations, you know, when we have people like
that, including our friends on stage, very much the same, because this world where we can be
DGENs, but also actual not scammy business people, I like that. That's really nice to be in.
So anyway, but your point about this, like it is a different sort of world that we're entering.
And I think in the bear market, we did a lot of these conversations and high level things and all those discussions, like I said, like the stuff in the book.
But then moving forward, it's like we have these newsmakers who can actually bring a lot of value to our audiences.
So people like Pons, people like Poppy and Sin, and so on, you know, like, you know, people at Magic Eden, you know, OSF and Mando next week,
we're looking to get on.
I reached out to some other NFT brands.
So these builders that are actually
starting to execute on the things
they've been working on,
we're about to see what building
in the bear really was.
And speaking of building in the bear cap,
again, I think we talked about this
a little bit, but I do want to go back
to our friends over at GG.
We're collaborators with them. I think people are starting to get hip to my strategy because
the Jupiter tokens are a little more expensive. So I want to run you through this conundrum
I'm running into right now. So I realized that there is basically as long as the token
stays above four to five cents, again, all of this is not financial advice. I'm terrible
at this. So like things go terribly wrong all the time.
But right now the current price of the GG token is 20 cents.
And so like a Jupiter token, for example, gets like, I don't know,
like $900 or something worth based on that price.
I forget what the number is.
Don't quote me on that, right?
But it's like you can buy a Jupiter token and smash it into dust for like $170.
So that seems like a arbitrage opportunity,
even if it goes down by half,
even if it goes down by a third,
it seems like this interesting arbitrage opportunity.
So I bought some more,
I bought another couple more Jupiters,
I bought another Uranus,
I bought another Neptune,
I smashed them.
I don't know.
I guess it's supposed to be Uranus,
but here we are.
But with those tokens,
I'm starting to get worried.
I'm going to spend so much money that I could have just had a full planet set if I keep doing this. I don't know.
Are you playing any of this ARB game? Are your bags fully packed? Because I bought, again,
I'm looking, I'm staring down. I think I'm going to buy another Jupiter token this morning just
because it's, again, the ARB opportunity seems like it makes sense to me. And I may just get
absolutely wrecked on these. I only had like four planets going in.
Now I have like eight or nine in there.
What are your thoughts on this play as GG drips?
So if you're patient,
are we going to be looking back in a couple of years and be like,
yeah, we got rewarded or we claimed our tokens and we're able to
ultimately play the game at the same time.
So it's like sort of a double whammy there.
What are your thoughts on that?
I don't know. I can, the only thing i can think about is you some something about you
getting wrecked on your anus that's uh my brain hasn't been able to move on past that one steve
um if in all seriousness though yes probably a good arm play however i think the thing you have
to consider is a like yeah will the token be a half?
I mean, I have no idea.
Maybe it holds.
I think I'm bracing myself for, let's say, a five cent token.
And that's probably where I would do the math, just on what we've seen with some other gaming tokens after time.
There's always the rage quit button.
There is the rage quit button.
And so I think you have that out.
But the other thing I think, Steve, is just is like opportunity cost.
Right. It's like we talked about like the buckets.
And yeah, like that's that's you're longing that bucket to where maybe maybe you're making a three X play on the planet to GG trade.
Maybe you're making a 3X play on the planet to GG trade.
Like, are you missing out on other opportunities with that dry powder?
That's kind of where I'm at is where I'm very selectively spending any ETH.
And I'm looking for if I'm going to spend ETH, as much as I want to invest in long-term holds, it's very bifurcating the long-term hold investment versus the trading
investment. And if it's a trading play for me, it's on a much, much shorter timeline because I
think things are going to get pretty crazy this year. So yeah, I'm really not looking to lock up
any ETH for an extended period of time. I'm attempting to keep the dry powders as fresh as possible.
Right, because if you look at it statistically, it's like, okay, if I spend 0.068 ETH,
and ETH doubles, but these tokens stay where they are, or these tokens go down to that
five cent range, which is where they would be about, you know, how they're priced in
as far as the planet sales go, potentially hurt myself on that.
And I think that's a justifiable thought i am
dollar cost everything into ethan for what it's worth like all of like 50 a week type thing but
i am kind of continuing to put a little bit of money towards that as we go but um it is it is
it is a legitimate thought where you start looking at like what is my opportunity cost of holding
ethan holding soul versus holding a token right like i love my bodogos i think they're adorable
good boys but i look at both of them and i uh, I got them at eight soul and it was a
lot cheaper at the time. Now eight soul is a lot, you know, it's all is, you know, doubled since
then or whatever the number is right. Or it's gone up like, you know, 50% since then, well,
you know, still around eight soul. So they're at a 50% gain, but at what point is it like,
if I spend that soul on there now, does soul run another,
you know, however much another two X and you know, those don't go to X. And it's interesting
because I didn't think about it as hard in the, uh, I think in, in, in the, in the previous
full market, there were a couple of things. One, I was really enjoying the community and utility
aspect of this new technology and the applications of it. So playing around in all those was
something I wanted to do. But number two, a lot of times,
these NFTs where you would buy
like two or three of them
would outpace the ETH, right?
Where it would be like you would buy,
you'd mint an NFT,
that NFT would 4X,
and you would sell two of them
and be happy,
and then you would keep one or whatever.
Now, I think the considerations
with how the Bitcoin spot ETF
seemingly coming out,
BlackRock does not mess around.
So knowing that that's coming potentially has some really is a really interesting tailwind.
And what that does for the whole crypto market, it's like, do you want to be parking in NFTs or do you want to be parking your money in that crypto?
I also last like I really did view NFTs as a levered bet on ETH and it did turn out that way.
It was just levered the wrong
direction so i i'm i'm much more cautious on like yes i'll still be buying three packs and five
packs and attempt to flip into a free roll if i'm if i'm getting into a new collection however
my long-term hold is like one for the access or or if there is some staking mechanic maybe a few
but it's not i'm not i don't have any desire to hold, you know, 10, 15, 20,
a hundred of any, any NFT token for longterm. I, I just,
I'd much rather get that back in the underlying asset.
Yeah. I got some solid jokes about my, uh, me calling Uranus Uranus in,
in the chat. Look, I'm dealing with a pretty, uh, pretty solid head.
I'm actually still disappointed in myself that it's you that said it that way.
And I had not, like, all I could do was laugh.
I didn't even have, like, a clever.
Like, there was so many jokes that were just, like, you queued up there for me.
And all I could get out was get off mute and laugh.
Yeah, no, I am.
I mean, look, I got this whole science head cold going.
The all-in besties would be very disappointed with my lack of execution on the Uranus joke, Steve.
Yeah, give me a little slack here.
We're doing the best we can here with the cold.
So in either case, we're kind of rolling through here.
But yeah, no, I think it's for sure a very, I would say, interesting time.
And I guess a question for you, Cap, as we go into it.
And as always, do us a favor.
Give us a like, a retweet, a comment down below.
Love the nice warm room we got here coming for Pons when he comes up at 9 o'clock a question for you, Cap, as we go into it. And as always, do us a favor, give us a like, a retweet, a comment down below.
Love the nice warm room we got here coming for Pons when he comes up at nine o'clock
to talk about all things plague from the history
all the way into where we are
with this equity distribution coming up.
Looking forward to having that conversation.
But Cap, what is going to inspire you
to drop more dry powder into this market
as it exists today, instead of say having it in ETH or
sort of other potential coins, ETH, Sol, et cetera. What's going to inspire you to make those bets?
Hmm. I don't know, man. It's a good question. Because my first answer would be something,
you know, a real underlying business that I could participate in the upside
that we're about to talk here today.
But it's like that can't, that has to come after the fact, right?
And I think that's one of the interesting things to think through.
So like part of it might be me speculating and guessing
on what are some other 21 projects that might be in a similar position
that I don't have exposure to yet, maybe.
I really, right now, I'm not chasing anything.
So a lot of what I'm looking at is what's new and fresh.
Is there airdrops to convert into liquidity?
And if there is a new mint, it's like,
I'm not above a degenment.
Like if I was awake at midnight on the first,
I probably would have minted some Steamboat Willys
and I certainly would have sold them into the pump.
I'm not buying them at 0.35 or whatever they ran up to or whatever they are.
And I have zero interest in holding something like that long term.
It just it's not even, you know, the other thing, too, like had I had in the past, I might have minted a few of those, flipped a few and kept one or two after the run up.
Like that's just something I'm not looking to continue to keep liquidity in meme NFTs.
And I think that's a big, big, big, big differentiator, Steve, is the difference between a meme NFT, like a degenment and something where you have an actual brand being built.
So you have an actual business being built behind the scenes, whether there's a piece of equity in it or not.
in it or not. Like, I don't hold a piece of equity in Quirkies, but I'm supporting my friend Poppy
and all that they're building over there. And I'm excited to participate in that building of that
brand, right? Like, I think that's where I will look to part ways with dry powder is if there's
a friend I want to support, or if it's if there's something real tangible being built behind the
scenes, that's leveraging this blockchain tech to really,
it doesn't even have to be necessarily disruptive.
Like I don't, actually, I do think making coffee can be disruptive,
not just in the coffee space, but in the business model.
I've been saying, I think there's an opportunity for a whole new business model,
just like we have franchising as a business model,
just like direct sales or network marketing
is a business model.
I think what we're seeing in this Web3 world
is a chance for a whole new business model
being developed and being built.
That's what excites me the most.
And that's the sort of brands
I want to be actively participating in,
not just holding degenments for a chance for a 10X.
Yeah, it is interesting.
It does change the whole dynamic of how I'm playing the game right now.
And I wonder if we're coming more into a sort of mature market where like,
if I do a DJ admin or two, like I would have minted if I were awake,
I would have absolutely minted that Mickey thing when I saw like AJT throw it
out there for funsies. Right. And I know that people are like, Oh, like lame,
whatever. Like, you know, he made, he made himself like quick $4,000.
I think, I think the mint was like two dollars for two thousand they went out instantly so
brilliant move there um not mad at it wish i had thought of it right but like the fact that like
he did that like i would have degenmented that for the heck of it and then when it ran to like
whatever it did like the next morning wake up and it's like point two i would have sold it at that
point and i would have been out and back into ETH and thinking about it. And I guess to your point, I've been less inspired to deploy my ETH to,
I would say, new sort of NFT brands, even the blue chip, quote unquote, ones that I'm not in
that a lot of people would consider versus keeping it in ETH or even using it like,
I need to get new luggage. I'm looking at nicer luggage because I'm like,
I travel a lot and I'd want to get something decent to do.
So new luggage is not cheap.
I should probably just cash them to do that instead of pulling from my
actual money that I have outside of here,
because you should take money sometimes off the table as well as your tax
money and all that good stuff with those coming up.
So see,
I'm the exact,
I have like RSUs coming due in March that they're getting markets sold immediately and dumped into dry powder. So maybe that's also
weighing in the back of my head is I've got a little, a little bit of dry powder windfall
coming here in the form of some traditional equities that are, that I can, I, I, their,
their, their staking period is up, Steve. I'm no longer vested. I can, I can dump,
dump them and, and use, use the TradFi traders as my exit liquidity.
Yeah, I'm also curious, like, what of these airdrops are going to hit
and which ones are going to be the ones, right?
It's like, does LFG run, right?
And then, like, that becomes an airdrop that became a thing
that got people over to Seoul.
And they said they were going to announce some sort of plans today,
so we'll see what they come up with and how long this goes.
It feels like somebody, like like it honestly feels very um uh
true uh you know uh like like like truth-esque like truth labs like when you think of goblin
town and all them in how this lfg thing's been dropped it feels very cheeky on the blockchain
and how they've gone about it how they've seeded it similar with the copium drop and the um you
know the uh the copium drop and and the mickey like, you know, and I know that one was AJT,
but you see things being played around with here,
and it's very much like, does it run?
Does it stop?
Where is the point where you call it?
Like, all those things.
It's going to be interesting to see,
because we have, like, it's like,
it's weird because it hasn't happened yet,
but it's like, remember Rainbow Wallet?
Like, a month ago when we were all, like,
making swaps and things,
and at some point that's going to have an airdrop
to try to get a vampire attack from MetaMask.
We have, you know, obviously GG, which is the slow drip.
Or people can, you know, sort of like rage quit their planets and pick up their allocation there and just kind of exit there.
We have this one coming.
Blast is the biggest of all.
I mean, there's still a billion dollars locked up on Blast.
It's coming unlocked in about a month, a month and a half. Yeah still a billion dollars locked up on blast that's coming unlocked in about a month uh for a month and a half yeah a billion dollars locked up on blast
and then um of course uh you know there then there's like i'm trying to think there's like
one more that i'm like i i find myself uh it's the one that sammy's an advisor to why am i blanking
on it uh based on the gas blade frame frame so there's frame like another one like so just all
these things and by the way at some point is ray's frame like another one like so just all these
things and by the way at some point is ray from meme coin just gonna like go nuts and say like
ah utility for meme coin so there's all these things that are going on at the same time is it
too fractured is it too is it is it too fragmented steve is there too is the attention spread too
thin for any of them to really run? And that's a good question.
And I don't know if it's necessarily too thin or is it too distracting
in the sense of right now LFG is having a little bit of a...
I forgot about the rainbow wallet thing.
I truly had completely forgot about it until you just said that.
Yeah, and I haven't checked it in a hot minute either and haven't used it.
I've been occasionally using it just to do swaps and and send money to coinbase and stuff my metamask hasn't worked correct since i installed the thing like my it's a chrome issue
but i just i've had nothing but issues i had to disable it on my my browser yeah i mean it's it's
and so like when you look at all those things and you're like okay like these things are all
happening but your point like is it spread too thin or is it too distracting where
rainbow wallet had attention?
Would it have been prudent of them instead of trying to do this rainbow points thing
for as long as they did, would it have been prudent of them to say, you know what?
Like, let's do the airdrop after a couple of weeks.
Like, do you want to wait on that?
Or, you know, how long is this thing going to happen?
Cause they didn't give, it almost made it like blur where we didn't know what this is the most impressive thing about pac-man in my
opinion and everything they've done at blur is how long they've been able to keep the collective
attention and as soon as they lose it maybe they lose it for a few weeks maybe a month then they
drop something else and they get it right back i think that's what has been really they've executed
that better than anyone else we've seen as far as this attention economy with,
with, with potential for airdrops or claims or farming.
Well, I think part of it too, is that they have the product tied to it.
That's why rainbow is interesting that if they were smart about it and had
ways to incentivize people, I mean,
this is the loyalty thing that's missing.
And one of the things I learned that I'm, I'm like, again,
like I've said this before,
like one of the greatest gifts I've had working with Starbucks and grateful like Bunchu and
Morgan and them gave me the opportunity to work with them as community lead there is
that I get to learn from a loyalty program group that is brilliant.
And like, one of the things I'm noticing is the way that they're able to keep constant
attention in various things, whether it's through the app or whether they're working
on Starbucks Odyssey, like they're very smart at keeping their users engaged in a way that is not too pushy,
not too invasive, but also gets their attention and drives action. And I think with like Rainbow
Wallet, it was like, they did a really good job at first driving that action. But like,
they didn't have like a plan of consistent brand, sort of positive brand actions to engage with
that would ultimately result in those sort of rewards, right?
And I think that that's the thing that tends to be missing
is like some sort of a sustainability.
And I think Blur, they have a real product,
just like Rainbow Watt is a real product,
but Blur also has a consistent,
like here are the actions you need to take
to consistently get
into this ecosystem and have yourself farming these tokens and they get that attention they
keep that attention and then they find the next thing to do to your point like blast was crazy
it wasn't particularly crazy innovative but it got the attention and so i think that's something
that we do miss with something like a rainbow wild is like what could they have done where
they'd be like anybody who buys like could they have partnered with a smaller niche NFT brand and been like anybody who buys this NFT and is holding it at the time of the airdrop gets a bonus, right? Not just their own NFT, but like once a week announce one bonus one, right? And then you'll have NFT brands coming to you from a partnerships perspective. You will be driving action within your wallet because that action has to take place in your rainbow wallet. And, you know, and again, I don't
know how trackable it is for them as far as like the transaction place and whatever. So like,
I'm probably oversimplifying it, but that's an example of a loyalty program that could have
gotten, you know, NFT brands excited, uh, could have made people money along the way because
people would play the buy and the sell side of that thing and would have given you a reason to continue
to interact with the rainbow wall to be like, well,
I got to get on my rainbow wall because I have to buy this NFT this way,
or I have to buy this coin this way, or I have to be holding this here.
So I think those are the things that like,
it's like as an example of like, instead of just being like, all right,
now moving forward, just do a lot of swaps in our wallet.
Isn't going to hold attention.
So I think that loyalty program aspect of it is something that a lot of these NFT brands,
as well as these other airdroppers, need to consider as they go into it.
And I could have seen that again, having a solid positive effect on the run and use of...
I don't know about you, Cap.
If NFTs that were below 0.1 ETH were giving me a bonus for buying and holding.
And if, you know, little tokens here and there were giving me a bonus for buying and holding, I would be using Rainbow Wild for that.
Would you not?
Probably not, just because I've had so much issue with the UI.
But it's just not worked for me.
But if it was seamless, maybe.
Yeah, I just, it's been a bad experience for me.
So I've forgotten all about it.
And I probably won't go back and do much more.
It's like, that's, they quickly lost my attention.
And then as soon as I had a few issues and just my, you know, my wallets weren't working correctly, I disabled it.
And yeah, I just being candid, I probably won't go back.
Brings up another problem.
I'll go back to claim like a minimal claim when it comes.
But other than that, I probably will have stopped using the wallet.
This brings up another customer loyalty problem that I run into a lot with NFT brands, which is once you give someone a bad experience or lose attention, the chance of you getting them back are actually slim, right?
And it's like, you know, the fact of the matter is they probably had to know if they had done any sort of beta testing that you need to disable your MetaMask in your browser extensions if you
want Rainbow Wall to work properly. So my initial problem was I wasn't able to use everything on my
Rainbow Wall because I, you know, had MetaMask enabled. So it's like I had to pull it off and
disable the extension and then re-enable the extension like when I was doing it. And so like
this is one of the problems that they run into is that
like, they probably should have explained, like, here's how you install it and get it going.
If you have problems, here's like a very simple explanation, because I think a lot of us in the
war room trouble shot it out. But like, you know, I was getting ready to rage quit that pretty
quickly, because it's like, I only have so much time. And you never know if something you're
troubleshooting is going to take you five minutes or five hours. And I'm sitting there like, well, this is probably not worth my time to spend five hours tinkering around with this thing.
And of course, it was a couple of minutes and someone in the war room figured it out.
But that was a worry that I had from my mind as well.
And it seems like you've run into that.
So that's the other thing is like when you bring people in on something like that, you need to be ready.
It's like when we would do PR back in like, you know, at like Progress've run into that. So that's the other thing is like, when you bring people in on something like that, you need to be ready.
It's like when we would do PR back in like,
you know, at like Progressive or Nestle,
when we went into an interview,
we had an entire Q&A that would like basically cover anything that will be asked in the interview.
Yeah, exactly.
Like we would know what was going to be asked.
And like, I remember getting off interviews sometimes
and I would literally have subjects say like,
did they send you the questions beforehand? Like everything they asked was on the paper. I'm like, nope, that just means I did my job properly. And I think similarly, when you're setting up the rainbow wallet, it's like, if they had known like there's issue with having to a wallet, it's like, that is a very simple thing that people would have like, if you had said like, I'm having this problem, or I said, I'm having this problem.
problem or i said i'm having this problem somebody could have been like here's a link to their tweet
in their thread that says how you fix this or here's their link to their tweet that says how
you fix this um and then it's a very quick easy move so i do think that that's the other thing
to consider like as far as this stuff is you need loyalty actions and you need to actually have your
product be usable and and know what these sort of barrier to entries are there um hero flew up here
hand went up hero the king of the Ferganas, some have said. Some
have said. Some on this stage call him the king of the Ferganas. He was telling us to buy Ferganas,
I don't know, at like seven or eight, when I was like, I don't know. And it seems like they're on
a downward trend, and I have my excuses. They've gone 2x since then. They've actually 3x at one
point since then. T-Row, have you sold any of your, before you get in here, have you sold any Ferganas yet?
Or are you still the undisputed king of the Ferganas?
I am, I think I'm at 11 or 12 or 13, something like that.
I've been trading up into rares.
As you can see, I'm rocking a space here.
Oh, you're like, you're like a community member now.
Oh, I'm a, I'm a full on.
I've jumped in the soul pool and the soul network and I'm hugging everyone because they all need hugs because they've been rugged 10,000 times.
And I feel like everyone needs to calm down and understand that we're here for you.
We've been through the market on ETH.
I've been in this market for two, two and a half years now.
Understanding, doing all the mints and dealing with gas and dealing with gas wars and dealing with whitelists and dealing with everything.
I'm just trying to navigate and try to teach these young bucks and young gals over on Sol what's going on and what's happening.
But, yeah, I own a lot.
But you guys are talking about wallets.
And as my Sol journey has been going forward, I've been looking into other projects, Klenosaurs.
I've looked at Bodagos.
And then lastly, I was looking at Mad Lads.
And the thing about them, I was trying to understand why they're so expensive.
They're $130 floor price.
There's almost 10,000 of them.
I'm like, what is going on?
So I wanted to figure out a little bit more about it.
But basically what they're doing is they have their own wallet called Backpack, and they're staking on Backpack.
But when I came into it, I already have a Phantom wallet on Soul.
Love it.
Understand it.
Know how to work it.
I don't want another wallet.
So I will not be buying a Mad Lads just because of that reason. I don't want another wallet. So I will not be buying a Mad Lads. Um, just because
of that reason, I don't want to have multiple walls on soul. It's difficult and hard. So yeah,
not for me at this time. Yeah, no, you, uh, you opted out for that reason. I am out, but I would
say like, you know, if you're going to be, here's the thing, there's two things that happen on E
like, and you want to be, make sure that you are on the right side of whichever one is
and who knows which one's going to be correct.
So good luck, T-Row.
This is going to be your choice right here.
But as you accumulate, so I mentioned this to Jack.
Jack had 25, I think, Bodogos.
And when Bodogos ran to 18, I was like, Jack, Gordon bought one.
It's getting a hype.
Sell 10 of them. Cash out your, Gordon bought one. It's getting a hype. Sell 10 of them.
Cash it out.
And then if it pulls back, it's at 15 to 18 soul, I mean.
Cash out.
And you can always buy back in.
And you'll still have 15, which is a nice little moon bag
if you really have that much conviction.
But it'll take a little off the table, more than cover your investment.
You can always buy more if you want.
I will say this.
There's two ways that we see markets go on. Right. One of them is that somebody went
all on board apes and they won. They got the airdrops. They got the everything. Everything
worked out really well. The other way is that somebody went and bought, you know, a hundred,
you know, name. I'm not even going to disparagingly talk like secrets of Pearl of society. How about
that one? Cause I know that they did a mint that was not equitably fair, so I'll just bring that one up
specifically. Someone bought
a hundred
secrets of Pearl of society. They ran a little bit.
They're like, alright, pretty stoked on this.
Someone bought a hundred
three landers. Someone bought a hundred whatever it is.
And then they didn't... Subducks. Yeah, exactly.
We saw that. I mean, that's a great example.
We saw someone sell their apes
and buy hundreds of subducks because the theory you know... You or, you know, you know, Vivik is very, who was very smart in this space.
He was in Guttercat for a while before he got hacked and kind of lost his assets. But, you know, he had apes at like, you know, 70th and Guttercat at like, you know, two ETH and whatever.
And he was like, well, what's going to happen? Apes going to 14 or Guttercats going to eight to eight first and of course like he ended up selling
apes for gutter cats and they didn't go you know didn't do as well there and then and so the point
being like i personally am somebody who divides this is not financial advice do what you got to
do t-row but if you've got 12 forganas it probably wouldn't kill you to have a couple of bodogos
which you can get for one for a dog for gana um or anything else in those ecosystems a couple of cops i don't know like some other things in
the soul ecosystem because you know you may be right for ghana's may be the new alpha and they
may be the next apes but like if you have five of them and a bunch of other stuff and they're not
you won't feel as bad than if you have 15 of them and don't have the other so that's just my i'm
again i'm not giving you advice you're my friend so if you have 15 of them and don't have the other. So that's just my, I mean, again, I'm not giving you advice. You're my friend. So I'm giving, I'm a little
more like, these are your options here and this is how I do it. Um, but yeah, like I, I, you, or,
but by all means, if you want to continue to frog on it, you keep frogging in over and over again.
So you got all the frog on us in the whole collection. I'm just throwing out a little
bit of perspective that it, if, if soul has a moment be like, I I'm dreaming of being diversified in soul.
I'm dreaming of having at least a couple of NFTs in each of the main big collections
so I can see if any of them rip.
I don't know, T-Row, your thoughts on my rant there?
Fully understand.
I'm an all-or-nothing guy.
I've told the story before I had a chance to buy two Bored Apes at 1.2 ETH.
I see what the art is of T, the artist with the Fraganas,
and I 100% have looked at the traits and looked at the artwork
and looked to see what he's done and I'm standing behind it.
I see how people are onboarding over to Seoul.
They're still learning how to bridge.
They're trying to figure out how to use the wallet.
They're trying to figure out how to use the wallet. They're trying to figure out
how they
want to buy, whether they're going to use
Tensor, which is more of an aggregator,
very similar to Blur, or they're going to use
Magic Eden, which is more of a
Seoul OpenSea. It's very interesting
to see how people are trying to figure out
how, where, when, and why on
Seoul, and where they're going to park their money.
I'm going to make a bet here now with this team.
I look at it and I basically see good vibes and good, good people in the community.
A lot of apes coming over that seem like they care.
They want to, you know, diamond hand things and stuff like that.
So that's awesome.
I'm just making my bed here and packing my bags and we'll see what happens um i'm excited um
i think there's a lot more to come the community um it reminds me a lot of uh doodles doodles was
a vibe of just great art by bird toast and look what they turned it into obviously it's taken two
or three years but you know you want to get in now a lot of movement on soul soul surpassed for a 24-hour period
surpassed eth in trading volume for the first time in the last 24 hours so that's huge so you can
kind of see people are experimenting they're trying and we'll see what happens you know I
made my bed and that's where I'm sitting in it. If you want to get behind that project, you should.
I love the art.
I'm rocking a jersey.
I got a Fragano logo, a lily pad logo on it.
I'm seeing it in space.
I love science.
I love exploring.
It's just me, man.
It vibes with me and I love it.
That makes me happy.
That's what I want to hear.
When you're talking about how you vibe with it and you have it because you love it, first of all, that makes me happy, number one.
And number two, good for you.
Your reasoning is sound and you feel good.
The other thing about it is, you read that book, it's the thickest book ever called Principles.
And when you're talking about setting out to do anything in life like having a good set of principles, as long as you know,
sort of like what your background is,
it's by Ray Dalio.
People don't know.
I realized you didn't say that out loud.
You know,
Ray Dalio,
who's like,
obviously like,
you know,
brilliant investor,
advisor,
et cetera.
And it's a very thick book,
but the,
the,
the,
the sort of core reasoning of it is if you have your set of principles and
your principles are set on good data and they're soundly within your comfort zone, then no matter what happens,
you can live at peace with decisions. And this is one of the reasons why, you know,
people got upset with me during like, not upset with me, but they would challenge me during like
the bull market where I might make a bad play and I would lose something and get wrecked. Or
even like the idea of like, I traded my Moonbird. And when I traded for my moon bird and the amount that I traded to get it because moon birds at the time had like a 30 each floor
or something like that. And it was like a tremendously expensive trade. And you know,
the reason why I don't sleep poorly at night is because I followed a pretty obvious set of
principles that I had at the time that I'd set out. And I made peace with my decision, knowing
like having the conversation in my own head beforehand, that no matter what happens here, good or bad, I feel
sound about the reasoning I put into it. Did it work out? No, it did not. Obviously like anybody
who's looking at the price of, you know, where they are now, like compared to when I bought it
then or traded for it, literally everything I traded in that package almost exclusively is
worth more than a moon bird and on chain monkey set, set, the other side deed, the other deed had a coda on it, right?
And so the codas themselves would have been worth more money.
But at the same time, I had a set of principles that I followed to do so.
So as long as you feel good about that, I'm proud of you, buddy, and I'm excited for your run.
And I hope that Froganas go all the way to the moon.
And maybe I'll even buy one just because you're getting me all juiced up about it because we love the T-Row. Let's go over. I saw
Andrew's hand fly up and then we'll go to Poppy after that and then we'll probably pivot into our
special guest Pons up here. Can't wait for this one in about five minutes or so. Andrew, GM,
happy new year, sir. Good morning. Happy new Year, gents. Happy New Year, women.
He's out there.
You guys said something that I have not heard in a while, and I think Cap absolutely nailed this in the head.
Uranus or something else?
No, it was about the turning, I guess it was turning people away from a bad product or service.
Like once you use it, it's not UX2I friendly.
They get turned away.
I think it's absolutely correct.
My question for you guys is, is that because-
This is the risk of the beta.
This is the risk of a beta or launching an MVP
because I, like I said, I'm not even just,
I'm not just like for the bit.
I probably won't go back.
And it wasn't like awful, but it was very inconvenienced.
I don't have the time to troubleshoot something.
And so, yeah, I'm probably just done.
That just crossed off my list because it was, I don't have time to troubleshoot bad UI.
Kat, but do you think you're saying this because it's a maturing market, whereas if you don't
find something you like, you can just go to XYZ place somewhere else in 60 seconds yes something else opposed to maybe the market's more matured and there's only a set
yes because there is competition the other competition works for me so it's like if you
want to pry me away from if you're gonna vampire attack me you better have things buttoned up
you need people like i do like some of the ux of the rainbow wallet i'll be honest like i do like
some of the things that they have and how it's integrated,
how it integrates all the tokens, the sort of bridging features they have.
I actually like a lot of what they put together.
So I want to be actually clear about that.
And I hope MetaMask follows suit.
Like, competition is a good thing.
But I would much rather see MetaMask step up their game
because now there's a new kid in town and they have increased competition
as opposed to having to force, you know, disable my metamask turn on the new one and
i even did that and i was still having the issue so it's i did the troubleshooting that was
suggested and it just it still wasn't working properly so for me it's just like okay i'm done
i'm not giving it any more time and it's because it isn't a novel space anymore there's you know
we probably can't even count all the wallet options
on on all of our fingers right and it's like maybe they're not all that big yet maybe they
don't have airdrops yet but it's like there's going to be another one too like this isn't the
end of it and i also don't think like rainbow or i mean metamask isn't the end all be all like i
think there's probably a world where they become the myspace of wallets but just because rainbow
is has a you know Rainbow is doing this vampire attack
doesn't mean that I'm necessarily,
they're going to become the default.
I just think that you got to be better,
especially if you're going to use this vampire tactic.
I agree.
No, I agree.
I mean, I'm with you.
I think it's important.
It's sort of like a promotional,
it's like,
I mean,
and you come from the retail space.
You're probably like way more version of this than me,
but it's sort of like a promotional period.
It's like when you have a promotion,
like,
Hey,
come over and try our product and like,
understand like what our product is.
You better be putting your best foot forward because you're trying to bring
competition.
If you know,
you know,
again,
using the world,
I mean,
if Dunkin Donuts wanted to bring over like Starbucks people for their coffee, you better have your best foot
forward for that free, like, Hey, anybody with the Starbucks gold card, get a free coffee.
You better have your best foot forward for that because that is going to be your opportunity to
grab the attention. And after that, you're, you know, you're pretty out of luck. So I think that
your, your point is sound there in the sense of like, you know,
like if you had a bad experience
and a lot of us did too,
we put up with some crappy tech,
but there are more options now.
You know, we use MetaMask and complain about it.
We use OpenSea and complain about it,
but those are the options that exist.
Now as other options exist,
we saw it even with Blur and others,
particularly for traders,
Blur became a place that a lot of people went for that reason.
So Andrew, go ahead and get back in here.
Yeah, I promise I'll say this and I'll shut up.
So this conversation reminds me of the concept of like we go to McDonald's, we go through the drive-thru or maybe some of us go in, depending on how you're feeling, right?
And McDonald's on a Google review standpoint absolutely sucks.
And they have such a low Google review service when it comes to like customer
service. Like no one's ever said, wow, McDonald's customer service is amazing. But you still go
there because it's fast, it's quick, it's convenient, it's this, it's that. So you still
go there, right? Whereas the Michelin five-star restaurant, so like, man, that service was
amazing. I was there for 30 minutes, two hours, 10 hours, whatever it was, like amazing Google
review, five stars, four and a half, whatever it may be, right?
Great restaurant.
But we still go to the McDonald's because it's convenient.
Should we be treating these wallets and these products like that, that this thing can't be everything for everybody, but we can be using it because it's convenient?
Or is this completely wrong in my process thinking?
I would say completely wrong in the process thinking, because I think that what you just
described works for blockchains.
Like I think blockchains can be used for different purposes,
right?
Like they can have different,
use cases that you would use for a blockchain.
But I think for a,
for a wallet,
I want my stuff in one place.
Like I want my Apple,
I want Apple to have securely put everything on my phone for me to use that
connects all blockchains,
allows me to seamlessly bridge has sort of like a, you know,
if there's gas involved,
I want a gas file that's specifically set aside
so I don't need to think about,
oh no, I don't have any, you know,
Matic so I can make this switch.
So I got to do this or that.
I want it all in one place when it comes to wallets.
I think what you described makes a lot of sense,
at least to me, from my perspective,
for, again, for like a, you know,
even marketplaces, it could be, I could see b for, again, for like a, you know, even marketplaces.
It could be, I could see bifurcated in that way, right?
A really good art marketplace, like we've already seen to some degree with Foundation and some others, right?
Or a really good, you know, loyalty marketplace in blockchain.
But I don't think that that happens. Does that make sense? That's my thought.
Great feedback, guys. Yeah, thanks, Steve. Thanks, Cap.
Right on Poppy.
Go ahead and get in here and then we will probably bring our buddy
Pons up GM guys.
Yeah.
I've got a,
I've got a nine and a nine 30 today.
it's pretty unfortunate.
I didn't realize Pons was coming on at nine,
so I'll jump in and watch the recording.
Listen to the recording later.
But,
yeah,
I raised my hand around the soul
conversation i i finally decided this morning to bust out the old stone book get my old phantom
wallet um seed phrase and i found about 20 soul worth of star atlas that i had staked for the last or whatever. It was in Tulip. I set it up in like 2021.
So just converted and bought a Bodago.
That was first on the hit list.
I've got to probably load some more and start dabbling around.
I already have a Fergana.
But pretty cool.
Pretty cool to finally jump into Soul.
It's a little bit off topic now but yeah anyway uh hope excited for friday we're gonna be talking about quirks and all that so hopefully uh everybody
tunes in on friday uh and uh cap i i texted you when you dabble oh that's that that's i mean that's the other thing that i wanted to ask so the uh lfg
claim i do not i can't find the real does anybody have the actual twitter or like the real
information don't feel like getting drained on january 2nd uh but cap when you go to do that
maybe just just hit me up i think we'll be claiming some LFG today and jumping into some solo NFTs.
Yeah, that's probably the move.
There's a few other areas. You mentioned Bodogos.
I need at least one in the
long-term hopper. That's one I should probably just
do the swap, pick up one.
I don't think that's a...
Even if that's one that does go to zero,
I'm fine with it because I know
without a doubt there'll be future utility I will realize from that community one that does go to zero, I'm fine with it because I know without a doubt,
there'll be future utility.
I will,
I will realize from that,
from that community,
that token and,
and that team,
I know they're not going anywhere.
Yeah.
I mean, that's the thing about it.
Like,
you know,
one of the reasons we bought rug radio tokens,
we bought,
you know you know,
I bought Bodogos is like,
this is a team that has been building and showing up every day through the
bear.
And based on that, it's like, all right, well, I believe they're going to be around.
And they've shown me that they're going to be around when times are tough.
So why not kind of pony up and go that direction?
Outer Lumen, go ahead and get in here.
I'm the same boat as Papi.
I have to go meet a roofer at another place.
But I wanted to chime in with something.
And then I'm going to listen back because I really wanted to hear Pond's interview.
As a UX person, I appreciated the UX convo. One of the things that I find interesting as someone who
has spent a lot of time doing UX work with government and government applications and then moving and doing UX work in Web3
is the fact that like there is a proactive approach to it with like a ton of working
groups and live UX task testing where you're like literally watching people click things
and watching all of that behavior before you launch products versus, you know, the approach
of like, you know, FAFL.
Let's just build it and see what happens.
And the main difference is that one is quite proactive, but it's slow and tends to, you know,
account for as many edge cases as possible.
And the other one is a bit reactive where you're kind of like doing release notes and
fixing things as you go, which to your point, Cap, has an opportunity to miss certain segments
of folks that may not return.
So I find it really fascinating, but I think all of Web3 could stand for a major UX improvement
overall, having maybe just a little bit more consideration. I don't think it should go all
the way the government route where nothing is released for like two years. But I think somewhere
there's a happier medium where you do a little bit more diligence in the beginning, even though everything is moving at the speed of light.
So I just wanted to share that.
And then the other thing I wanted to say, you mentioned, Steve, like this notion of everything in one place.
I mean, it's one of the reasons why something like Roblox works, where all of the gaming is in one place and kids love it.
You know, I don't see any, any, that any different, like we don't, you know, go to multiple browsers
to find something.
We go to the main one that we have that we like.
And I think it's, it's a similar thing here.
It's eventually going to be the winning wallet or whatever it is that can account for, for
a lot of the needs that we have as users in Web3.
Anyway, I am devastated that i have to go i really wanted to hear upon us to say but i'm gonna listen in later
awesome well look i mean i agree and i love your perspective as a ux designer because it's
it's funny like as soon as you're like yeah you watch every single click i'm like
you were that person in the booth when i was doing the ux testing at progressive on websites
and things that was outer loom and telling me, you know, paying attention, being like, try to, you
know, try to open up an application and be like, ooh, here's why that stunk.
And the UX designer's like, I worked on that for hours, you asshole.
Like, I always think about like that when I do my UX like design test.
It's like, what must the UX designer be thinking as I'm sitting there aggressively depositioning
their product that they worked hours on?
And I'm just like sitting there flying in being like, um, I mean, that took me one more click than I would have liked.
I don't know how I feel about that.
That's probably what it feels like to be the founder of a project too, which we will find out shortly because we have our buddy Pons on here.
So for those who don't know or missed it, if you're living under a rock, the plague did something.
Or if you just touched grass and enjoyed the holidays with your family.
Like if you're a normal human being, you probably missed it.
Those of us that are here 24-7, we don't miss a thing.
But, yeah, if you're a normal human being and you just enjoyed the holidays with your family, you might have missed this.
If you have a light, shame on you.
Yeah, I just dropped living under a rock as if, like, everybody over December should have been like me,
where you're, like, in the Dominican Republic with your family doing a talk show every day and taking meetings, like as if that's a healthy way to live.
I know it's not.
I had a conversation with somebody from actually a decently large project when I was there.
And they were like, they were like, I think you're wired a little bit differently in the
sense that like you're taking this meeting and it's not like something that seems off
for you.
I'm like, yeah, I'm ready to rock.
So, um, look, I want to like bring on Pons here.
Uh, for those who haven't seen, like, you know, obviously the equity, uh, we'll pin everything to the top. The equity drop was
huge. It's something we've been waiting for for some time here, but Pons, I would love for you
first. And I know you're, you know, you're, you're not docs, but you've given some level of background
to it. I'd love for you to give a little bit of background on yourself that you're willing to give
and then also kind of fly us into a little bit of what
the plague is and why the plague so people know who maybe aren't familiar with the plague what's
going on here yeah thanks thanks for having me this morning appreciate you guys um when you say
background you're talking about crypto background or uh work history what do you what do you what
are you looking for both kind of like your professional background as high level as you
usually give it and then sort of your background and how you worked in this space and what got you here.
Yeah, so professional background. I grew up, you know, in business, I guess is the best way to say it.
I've been in retail, sales, manufacturing, all those things.
Always on either on the sales or the management side.
Currently, I'm executive at a company.
I'll just leave it at that.
But it's a relatively large company,
one and a half billion dollar company, I would say.
But crypto attracted me because of the money.
I got it in 2017, and I was dumped on.
I was exit liquidity for everybody
that had been there before the end of 2017.
So I got wrecked like a lot of people did then.
Helped my positions and I came in,
came back in really in 2020.
I didn't, like I said,
I still had my crypto holding from 17
just because I didn't want to see all that red
from selling it.
And I was noticing the noise starting to come back around crypto in 2020.
But really what changed it for me was the conversation I had.
I was coaching my kids' football team,
and my assistant coach asked me if I was into crypto.
And I said, well, yeah, but I gave him the same story.
I just gave you.
And then he started explaining to me why he believed in it from a tech point of view and it kind of clicked
in my head and literally that same you know within 24 hours I went and I liquidated all of my stocks
and I put it into crypto and then from that point on I've been knee-deep in it and got into NFTs in 2021. At the end of 2021, I joined Twitter. It was my
first social media. And then in 2022, I founded a project, The Plague. And I founded The Plague
after spending some time on NFT Twitter, as we called it back then. And just kind of seeing two things that stood out to me. One,
that there's this energy around these communities that's, you know, I view these PFPs almost as a
logo. And there was this energy around them that you don't really see except for maybe around sports
teams and those kinds of things. And that was appealing to me that all these people were rallying around this object or this logo. And two, what the tech could bring from a transparency
standpoint, from a potential way of doing business differently. And so that's how we founded the
plague. And the plague, our core mission is to decentralize opportunity using the blockchain.
And that means a lot of different things. But I would say making coffee is a natural progression
from that. It's a business model. The business model is what's important. Ultimately, it'll be,
we'll use the blockchain in cool ways. Right now, it's just kind of clunky but bringing transparency to the coffee industry is
really what our goal is connecting the consumer to the farmer in a lot of cool different ways
and building a community around coffee the thesis is very much similar to what you saw play out with
the pudgy penguins and lucas if you build a brand with a community,
you have an inherent advantage, a hack, if you will, that allows you to push that brand in a
much more efficient and effective way than if you're just starting a brand from scratch and
getting on social media and doing paid ads and those kind of things. So I'll stop there.
So I love your thought process there, and it shows up, right?
I mean, like, Plague is one of the most passionate groups I see consistently,
whether it's spaces we're hosting, whether it's tweets I put out.
You know, I bought a Plague after I had you on, we had you on the show last time,
and I saw my notifications absolutely explode.
So I'm curious, how did you get the jump from plague to when utility, or utility when, I should say, to making coffee?
How coffee connects to kind of your ultimate sort of dream in business here with the blockchain, the software, the technology?
How did that all come together?
Yeah. So really the product doesn't matter. And in fact, we just, I had a call, it's been almost two weeks ago now with a very high level person in a group in Latin America that is, that loves what we're doing with making coffee and is looking to implement a similar solution with different products.
Yeah, so really the product doesn't matter.
So the product didn't really matter. But how we got in coffee is actually kind of funny story.
It was 2022, October 2022, we were doing a space and one of our holders came up and gave us the idea of buying the, led to somebody DM and me, I don't remember why it led
to the DM, but they're like, Hey, um, you know, two, two things happened. I got a DM saying, Hey,
we've got connections in El Salvador, um, uh, with the government and with farming and those kinds of
things. And then another one who said, Hey, if you're interested in ag, I think the coffee
industry is a good one because of X, Y and Z.
And I talked to her a little bit.
She's actually in New Zealand and is in an agency that is working on the fair trade side of coffee or whatever.
And so those two people connecting us helped me decide on the product.
So really the network effect of NFTs is what did it.
And some bozo coming up and telling us to buy a country and rename it Nicaragua.
That's where coffee came in.
The business model was always the intent.
The product was by accident.
But actually the product makes complete sense if you think about it from just the way the industry operates and how big the industry is.
So you're going big.
You're going coffee.
You're pulling this thing together i know i i've set up my making coffee profile and if i have utility when nfts i'm able to claim my
first couple bags talk about the model you're building there so the model will work no matter
what regardless of the product and then if the goal is extending even outside of coffee
so there's two parts well there's three parts of the model first part is just the transparency
in what we're doing so we're going to show right now, again, it's kind of clunky, but the end state is to show real time what our cost is on this coffee, where the coffee is, where it came from, who it came from and all those kind of things.
And the goal is to track it with NFTs and the blockchain.
So bringing transparency to the industry is a big part of it.
So you always hear this term fair trade. What does fair trade
really mean? It just means that it's an agreed upon price that people are paying that's a little
bit above maybe the spot price or whatever the case may be. And so transparency is a big part
of the model. Interconnectiveness. So again, we've got this community that helped us build the brand
of the plague. They're helping us build making coffee and creating mechanisms that reward the community for helping us grow the brand is a big part of the business model.
So typically when you start a company, you've got the people that founded it and it creates this triangle or pyramid, if you will, where all the money funnels to the people that created the business.
And there's nothing wrong with that.
I mean, a lot of times they're the ones that put the risk up.
They're the ones that are putting all the work in and those kinds of things.
And so what this model will do is because we're building this brand with a community,
we're going to create mechanisms that take a lot of the profits from what we're selling
and reward the community for their efforts.
In addition to that, because we're showing the transparency of what we
paid for the beans, what our cost is throughout the process, when you get to our selling price,
there's going to be a margin in between the selling price and our costs. And instead of
paying more up front for the coffee, which some people do, we are paying more up front for the
coffee, but we're also rewarding them directly when we get a sale. So like when you buy a bag of making coffee, um, 25 cents goes back to the farmer that
we bought the, the per bag, uh, goes back to the farmer that we bought the coffee from another 25
cents goes into a tip pool. And, uh, every, let's just call it 30 days or whatever that tip pool
gets distributed amongst the farm
workers. And so like we've got thousands of dollars that we're going to deploy this month
to farm workers in El Salvador based on our first purchase. If my math is correct, the amount of
tips that we're going to send back to them is almost the equivalent of a month's worth of pay,
the average month's worth of pay. So it's probably much more than that for a coffee worker. And so this model is creating opportunity. It's living up to our
ethos of decentralizing opportunity, decentralizing opportunity for the people that participate in the
supply chain and decentralizing opportunity for our holders who help us build the brands.
Normally, the only people who make farmers who make money around here are portal coin farmers.
So I love hearing that. That's good to see that you're, uh, you're, you're changing up that model
quite a bit. Um, that's really, that's a really interesting and fun model as far as like the way
it's, um, it's laid out very innovative and very much using the blockchain for transparency along
the way. I guess a couple of things would be, uh, that throws into that. I think one, well, before I get into the question of like other industries, do you have worries about the radical transparency potentially exposing real costs and bringing things down in a way that people are like, well, why does this?
Like we talked about campaign funding having issues or something.
It'll be like, wait a minute.
Why does travel cost that much?
And of course, you know, is there worry about being overly transparent?
Yeah. And actually we do this with the plague. So I publish our bank statements, um, and our
transactions with explanations and those kinds of things in a transparency channel. Um, and yeah,
it does bring headaches because you have, you know, you've got the, uh, sleuths that are just
looking for you to screw up and they know
they're, you know, asking questions. For the most part, we don't get that with the plague. With
coffee, especially if our brand grows to where we want it to, we'll get it from people that are
trying to, we'll get it from our competitors. We'll get it from people that are, you know,
skeptical. So yes, it's going to cause problems, but that's just the cost of
what we're doing. And to me, it's worth it. And I'm not really worried about it.
Love that. So a little bit like, so you're kind of doing this. What other industries,
you mentioned it could work for any industry. What other industries come to mind for you when
you think about the way this is almost like from farmer to my table
and kind of making sure everybody along the way is compensated what other industries make sense
for this to you i mean any i literally in an industry like just take the razor industry for
one and that one's always fascinated me um just take the razor industry well you know you you
before i'm sure you know the story of the dollar shave club where they came around,
everybody was paying, you know, and now,
now it's kind of getting migrating back up to that,
but you're paying $5 for a razor head and like, what the hell's going on?
Why is Gillette,
why does this thing cost me five bucks for this one razor head is going to
last a week and those kinds of things you could do.
You could do the razor business. You could show your costs on the razor.
You can show the cost of the razor razor head.
You can show how much you're paying the workers in the factory.
You could design a razor with your community.
And the person that wins the design contest gets forever royalties on the sales.
So really, this kind of thing that you can do with any product.
And there's some industries that will have more impact than others.
But, I mean, I can't think of a product that wouldn't work in there.
Well, let me rephrase that.
There's certainly some products that would make it inefficient and,
you know, those kinds of things.
But for the most part, any product would work with this business model,
assuming the business model works.
Do you see a world where this is almost a franchise sort of product that you
spin off into other brands to take on who
like like if like you know like i'm making it up like if like nestle was like hey you know what like
this is really interesting can we white label this thing for you for one of our products is
that what you would look for or you want trying to keep this more uh tied into your ecosystem
uh both so what we're what we'll do with making coffee and with
Windswap when it's complete is we'll create white label solutions out of the mechanisms that are in
it. So we have a pay it forward process that'll roll out here in the next couple of weeks with
making coffee. I think it's cool. I think it's unique. It's a virtual pay it forward and pay
it backwards process. We'll create a plugin for that that works with Shopify,
WooCommerce, whatever,
that people can use that in their businesses as well.
So yes, the answer is both.
We're going to, we'll take on some other products ourselves,
but we'll create the white label solution for all of the process that we're
creating for this business model and sell it to other companies that want
to do it. And that's novel, right? The referral program, the loyalty program, all that is nice.
It looks great. It was very easy to claim my bags of coffee and looking forward to getting those.
But what we haven't seen is that back end.
I just wanted to double
tap on that because I think it's easy
to get lost.
To help people set up on the front end is one thing,
but are you also diving into
then how
you're leveraging the blockchain
tech, how you're tipping out these farmers?
Is it really end-to-end
or just
those front end plugins? What, what are you, what do you intend to expand beyond others?
Ultimately this will be end to end and we'll have a white label solution that we can offer
other people to implement into their websites. Absolutely.
Yeah, that's awesome. That's a great, that's a great option for like a solution for a lot of
people who want to follow this radically transparent model as they move forward.
So you have your community in the play that you've built organically and kind of gotten everybody to rally around that.
You're building this whole WEN swap, utility WEN model that Making Coffee is built around,
which has the ability to sort of transparently reward people along the way in the blockchain on every single step of the way.
And then major announcement we just had, which was the equity announcement.
So I'm going to ask you about this one, just about the announcement in general.
And then I'm going to let Cap kind of take the wheel a little more, probably because
this is much more his wheelhouse than mine.
But talk about the announcement that happened surprisingly last week and what that means, or I guess a week and a half ago, and what that means for people who are holding plague NFTs.
Yeah, it's something that I've been thinking about for a long time and working on for a long time, actually, in the background with lawyers.
And so on December 25th, holders of record of that morning, they were in a snapshot.
And all of those holders will
get a percent of equity in our business in the form of shares. We're going through the process
of how that'll work exactly for them. Of course, we have to abide by all laws when it comes to
the eventual claims of these shares. That'll include KYC for those that want to do it.
Now, I'll try and create a level of separation so that I personally include KYC for those that want to do it. Now, I'll try
and create a level of separation so that I personally don't have to know what wallet
address is linked to which person and those kind of things. But again, we've got to follow the laws
that are in the country that I live in, which is the US. But what it does to me, it solves the
problem that we see here in the nft space of the disconnect between
the founders and the members or holders or whatever you want to call them um of your product
and if we're if you're truly going to reward people for helping you build a brand there's
only a few ways you can do that legally and to me this is the most obvious and best way to do it. And that's
why we did it. Like you said, RecGuy and OSF Mondo, they made the announcement yesterday.
Obviously, I don't believe that they made the announcement because we made the announcement.
I think, like I said in my initial post, it was an obvious move for those that really want to
build with their community. And there's not something you do.
There's not a decision you would make in the seven-day span from December 25th to January 1st.
So I think we'll see others do it, especially since our two projects have done it and created a lot of noise around it.
I think you'll see others do it, but they can't say that they're going to do it.
And they simply can't hint.
They certainly can't hint at it or look at themselves in trouble.
So what is – oh, go ahead, Cap.
No, that's the really interesting dynamic to me.
I don't know if you caught it earlier.
We were cold open earlier part of the show.
We were almost like speculating what some of these, we'll say, early 2021, 2022 projects that have been building, they haven't left, but still looking for that point of opportunity to really galvanize their community and really get everyone working together.
I absolutely think others are going to follow suit.
But the interesting thing here is they can't announce it in advance.
It does have to be a gift.
It can't be any expectation.
But I think what does that make?
That's what makes it legal is that nobody expected it. If people expect it or, you know, somebody can make the case that people expected it to happen.
That's when it can is at a great risk of being a security. So nobody knew that I was going to do this.
Only the lawyers that I worked with who are great. But yeah, that's one of the sticky parts.
There's no, you can't say, you can't hint at it. You can't do the founder, we'll see,
kind of thing that they do about everything. We, I guess I'm a founder too, so I should say we do
about everything. So you can't hint about this at all. It's got to be a complete gift and a surprise.
I have to ask before we get back to
the serious questions is, you know, one of the things I love about my tax attorney is that he's
been doing crypto for like a decade. So like when I talked to him, like, and he's like, yeah, like
I have this other guy who sold 10 mutants. I'm like, okay, like I can talk to this guy. Yeah.
When you were talking to your lawyers, did they look at you like you were crazy when you're like,
look, yes, I'm an executive. But on the other other hand let's talk about the frog jpegs and how
i want to give equity in the frog jpegs no these lawyers are crypto natives so um um one of them i
won't give too much information on what he does but i was when i found out when we had to doxer
each other as part of our um agreement letter and i Googled him just like he probably Googled me and I,
and I found out what he did. I was like, you gotta be kidding me. But so he,
he's, he's kind of our, I would call general practice lawyer.
His discord is not a dog, but I think his, his Twitter's lawyer cat.
I always get them mixed up, But he's a crypto native.
He's been in the space quite a while,
understands it.
Then the other group,
and he's actually,
he runs around with a creep PFPs,
a big part of the creeps project,
Laz.
And he's part of a law firm
that also represents plenty of crypto projects. So both
of them understand the space. Both of them understand what I wanted to do and why I wanted
to do it. And actually, they were both excited about it when I told them what I wanted to do.
So I had told lawyer cat, we'll call him a long time ago, and once got his kind of guidance on all those other things. I was already
working with Laz and his law firm about Windswap, just making sure everything we're doing there was
legal from a commodity trading and from a security trading standpoint. And I said, well, hey, while
we're discussing this, I'm also thinking about doing this because they're a security specialist
firm and got their guidance and clearance on it also. So luckily they both understood it. I wouldn't, it's hard. I actually
sat down with an accountant about a month ago and just listening to him talk was hilarious because
he, you know, the only thing he knew about NFTs was that, you know, he read an article that they
were down 95% or whatever. And you can't really have conversations with those guys about crypto.
They don't really understand it.
But I'm lucky to have great lawyers that do.
Sometimes I feel like we're in this giant
one of those rich eyes wide shut
parties and then people take off their masks and it's like
oh you're here too. That's cool. There's a lawyer here.
That's awesome. Yeah, no joke.
No doubt.
Go ahead Cap.
I don't want to get too technical or in the weeds.
We'd probably lose a good chunk of the audience.
I just, I'm like genuinely just really intrigued about this process
and how this is going to play out and what Steve's having for breakfast.
I kid.
What is it though, Steve?
We just were eating some, we're sick,
so we're just pumping our body full of vegetables right now.
So sorry if I was off mute.
Anybody had to hear me yamming back my vegetables,
trying to keep myself healthy as I'm starting a new year
with a little bit of a sinus illness.
Hope you get feeling better.
Hope those veggies do their job.
I guess probably getting a little too technical,
but just high level, it is a gift.
There's no need to be like, yes, there'll be a KYC,
but the holders, they don't need to be accredited investors.
I'm guessing, maybe getting too much into the weeds here,
but at the end of next year, then we could expect, I guess, like a K-1.
What does that kind of look like?
And I shouldn't assume, but I assume there's no expectations of these equity holders. Rather, they're along for the ride and some will participate actively, some won't. Or will there be some form of agreement that comes along with the KYC and any other tax forms?
the KYC and any other tax forms? Yeah, well, I mean, some of the stuff, to be honest with you,
is out of my scope. It's not my wheelhouse. The lawyers and then the third party group that we
get to handle will take care of it. But from a, I mean, the point, there's only two things just
like, well, let's just put it this way. There's only two things really that you can do with
shares of a company, sell them or potentially get dividends. And so we're going to operate like a business that
has shareholders would, and we want to take care of them. So that's the best I can say legally on
this part of it. But, and of course, you know, this is for, I'll go ahead and get this legal
disclaimer out of the way. This is for the people that were holders of record on that December 25th
morning. There's no, should be no expectation of anything going forward for future holders as it relates to shares or equity and those kind of things.
No, it's excellent because I have some people basically asking those questions about like, oh, this seems like it's a big symbolic thing.
And, you know, again, to your point, there are a couple of things and you're not saying anything on this stage about it.
But, you know, my answer that has been because I'm not in a position where I can't say anything is, you know, there
is the option to pay dividends, not saying anybody is owed that or will, but it's like,
you know, potential voting rights or carrying and potentially paying dividends. But for,
obviously I'm not going to put you in a spot to say anything you can't say there. So, um,
I'll leave it at that. Um, you know, but that being said, like, you know, I had some people
like, uh, a guy digital who I'm in a couple of group jets with couldn't come up the stage was asking some questions about generally, the reception from the community has obviously been very good.
reactions from people who maybe aren't in the plague right now? And then, you know, what has
that led to? Um, you know, and as far as like the reaction both in and out of the community after
you dropped it? Yeah, for the most part, it's all been positive. I haven't there's the one negative
comment I saw was, well, this makes it worthless for future holders, which is a weird argument,
because that means that every other NFT project out there is now worthless because they didn't give equity to their holders. So there's plenty of ways that we
have and will continue to create opportunities and reward for our both long-term holders and
new holders in the future. So that was the only weird one I heard. Again, it was one of those
arguments that was self-defeating if they believed in NFTs at all.
But no, for the most part, it's all been positive.
And then what was...
Sorry, one more question before I'm at all.
I promise I'll get off that cap there.
But like, what is...
How are they even being distributed, right?
So is it by frog?
You talked about contributions to the community.
How do you make those decisions?
There's a base percentage by frog.
And then I held withheld the right to do some multipliers on top of that.
Those multipliers will be based on we took snapshots of PFP usage from NFT
inspect. We've been taking snapshots of holders since mint.
And so there'll be multipliers that way.
There's some community members
that just far and above
have added value to the plague
and been brand advocates for us
in many different ways.
And those will be taken into account.
There's people that have participated
in our frog tank projects.
There's people that participated
in one of our frog tank projects
that ended up being a complete bust.
They built a crap product and then ghosted us.
So all of those people will be,
I'll add multipliers on top of what they've,
what the base per frog is going to be.
Excellent. Go ahead, Cap. Sorry.
Again, I know I'm probably jumping ahead
and just tell me no comment if you can't answer this,
but will there be, let's say fast forward down the road a couple years.
If I wanted to purchase some of these shares off another frog holder, will there be a secondary market for that?
Will I be able to do...
Just like any other shares, they can sell them if they want.
Yeah, it's completely up to them.
They're their shares to do what they want with.
Is there going to be a way to determine a market price price on something like that though i guess is my question because like that's the one of the question is like one of the people again
another question digital had in this group chat was how can someone determine the value of their
notes yeah we could do valuations and we will um but um frequently we do them, I don't know. But yeah, I mean, there's I guess there's different things. Some of them are speculative. Some of them are based on fundamentals. And I suspect that'll be the same with these and the ones that the wrecked guys get and those kind of things.
So I think, yeah, it's, of course, companies don't set their own stock price and share price and those kind of things. there's things that, that give them value on the secondary.
And I don't see why those wouldn't apply similarly here.
Excellent.
So you think,
do you think that you're expecting to see,
like we've seen,
obviously you said,
seven man who must've been thinking about this.
Cause you can't turn that sort of thing around in a week.
Would you think we're going to see this copycatted by other
organizations,
maybe even from 2021? I think the smart ones will look and see how successful we are first.
If they weren't already thinking about it, then just to... I think... Well, let me answer the
question this way. Yes, we'll have some copycat ones. I would be skeptical if they just did it to copycat or not. I think that if I was a founder and this wasn't on my plan,
I would wait to see how it works before I jumped into it. The reason why it's always been part of
our plan is just because of our goals. Our goals are to build a community.
And it's very cliche, so I'll just use a different word.
Our goal is to build a Web3 empire that has multiple branches and businesses.
And in order to do that, you have to have people that stick.
This paradigm or paradox or whatever you want to call it of holders only being holders until they, you know, the only benefit they get of being a holder is selling your project.
That's not what I'm here for.
I'm here for building a large community that can help build brands inside and outside of web three and reward them for helping us do it.
So I don't want to get,
I don't want to become a millionaire or billionaire off of coffee.
I want that coffee business to take off, reward lots of people all the way throughout the chain, and then other opportunities come our way and say, hey, let's do this product, let's do that product, and continue to build out things. That's really the goal that we have for the plague.
Love that. Cap, go ahead. I was going to go ahead cap i was gonna go to q then i was gonna
hand it to you again nope same thing get to q here in a second uh i would just like don't take
this the wrong way we obviously love coffee here we've we've hosted this show called coffee with
captain for you know over two years and and now over 500 episodes in a row so big big fans of
coffee makes sense really excited about the the Coffee brand. Already the rails that you've built out from the referral mechanism and
the community aspect. I'm very excited about it. All that to be said, I'm far more excited about
this as a business model. Like I said, it's not necessarily disruptive,
but I do think it'll be disruptive.
I think what you've introduced,
I feel that I'm not the only one
that got excited about Web3 for something like this.
We just hadn't seen it yet.
It hit me the week after.
I found this space by way of Top Shot in January of 21, and then some Zed horses that led me to many apes. And a week after that, I sent out a post that I'll forever remember. I feel like I just joined a startup with 2,500 of my best friends that I haven't even met yet. But here we are. We're like-minded. We're working toward... But there just wasn't a mechanism for us to really be a part of that. We are, but we're not at the end of the day.
If Yuga
goes public tomorrow,
none of us have shares
in that company.
This is what I think so many of us have been
looking forward to something like this.
I am
very excited about the model
itself and all the copycats.
This will be something like they say imitation is the greatest form of flattery.
I hope others look to imitate and replicate this because I really do think there's something
magical here that you've begun to tap into. Yeah. I'm excited about it too. So like making
coffee, make no doubt about it. We want that to be a big brand. I mean, just, uh, my, um,
I guess my model would be, I'm sure you guys have all seen Black Rifle Coffee. You know, they've found their niche as the, let's just call it the
mega coffee or whatever you want to call it. That's their thing. But they're a billion dollar,
billion dollar plus company and they're just selling coffee. There's plenty of people out
there that drink coffee. We have to give them a reason why they want to drink ours. And ours is very clear. Our value proposition or our differentiators
are clear. We're connecting people through coffee and we're going to have lots of cool ways to do
that. But we're not going to go build some huge making coffee corporate office. That's not what
I want to do. What we'll do is figure out ways to build
the making coffee community out and reward people that are part of it. So it's like this fine line
where we don't want to become Amway because that's cringy, but we still want to create a
process that says, hey, not only is this coffee good, not only is this brand cool,
but all the people involved get rewarded for it. Now, the last thing I want is people that are,
you know, the old supplement trick where you go friend somebody that you haven't talked to in six
years on Facebook and, you know, three minutes into the conversation, they're trying to sell
you their supplement or whatever the case may be. That happens to my wife all the time. That's not what we're looking for. What we're
looking for is just people to drink our coffee and to spread the word about our coffee and show
all the cool things that we're going to have involved in our coffee community and let the
product grow that way. But we just bought three machines me, let me see how much information I want to give away here.
We just bought three coffee machines that can be put into different locations and we're going to
have cool things that we do with at least two of them where people in the community are going to
benefit. And, uh, that's, that's the kind of thing that we want to do. So, uh, we're again, this,
this notion of decentralizing opportunity is not just a marketing term.
It's something that we really want to do.
And it's not because I'm a saint or an altruist or anything like that.
I'm going to benefit from it too, but I want to do this thing differently because I think
there's tons of opportunity there.
I love it.
Yeah, it's a new, better model, right?
It's enhancing.
I keep using the direct sales.
You mentioned Amway.
Yeah, if you're going to invite a bunch of friends over
and pull out a dry erase board and start drawing triangles
on it and selling your friends shampoo
and deodorant, it's super cringy.
On the flip side,
direct sales and
network marketing, multi-level marketing, whatever you want to call it, it's an industry that has created many millionaires. It's created many individuals that have... Some have had financial success, others have learned leadership skill sets and the ability to build a business for themselves. It's been a great educational grounds for many.
It has developed a cringy,
almost in some circles, repulsive
because most of us at some point or another,
we've had that DM on Facebook that you just alluded to.
On the flip side, like I said, I personally know,
I know Poppy's had a lot of success in a direct sales industry. I personally have good friends that have created their wealth in direct sales and building businesses for themselves like that. But there's always felt like there's been a better way to do it. while reaping rewards without having to have your mother and your aunt and your brother
sell said product, right? Like a softer approach where it's not like, hey,
come join our community and sell this making coffee so you can make a six-figure income next
year. Rather, hey, come join our community. Help build this with us. You might make a little extra
money. You might get some free coffee. And oh, by the way, we're going to do a lot of good and
help a lot of other people along the way and and and i don't doubt some people will
make good income you know participated in these types of models it just to me it doesn't feel
like it's the lead it doesn't feel like it's the lead message or why someone would want to you know
join the community and and and start becoming a making coffee ambassador to go make you know, join the community and start becoming a making coffee ambassador to go make, you know,
10 grand this month. Like, yeah, and to be clear, it's not it's not MLM. So you're not going to make
money on your friend buying who's buying and then they have somebody else buy. That's that. That is
not the model. That's not what we're looking to do. Yeah, I feel it's a new way to build,
leverage these network effects of individuals
that want to get around a brand,
become a brand ambassador.
While still the active participation,
it's like my daughter loves her Stanley Cups.
She's probably directly sold a lot of Stanley Cups,
but she's never received any rewards for doing so.
Big time hockey fan or she loves her Stanley Cups?
Sorry, Cap, that was terrible.
Go ahead.
That was good.
We've kept you waiting.
I saw Joshua got a kick out of that one as well.
Speaking of those, not saying he
directly
did this because of your move, but I just
saw an announcement this morning, another one of those.
Cap, I've been working on it six months.
I was actually going to watch on Christmas also
with Pines did it, so I was like, I'll delay.
Six days. Six days. He's been working on it for six days. I was like, he can watch on Christmas also with Pines did it. So I was like, I'll delay. I'll launch for January 1st.
He's been working on it for six days.
And then, you know, and then OSF did on January 1st.
I was like, ah, fuck it.
I guess I'll go on the second then.
Yeah, like I said, I haven't seen Josh's announcement yet.
But this is an obvious move.
And nobody that's making an announcement today or yesterday decided to do it on Christmas for sure.
It takes a long time and thought to get into it.
So, yeah, I'm looking forward to go seeing what he put out there.
But it is an obvious move if you're building what we're trying to build.
Q, thanks for your patience, GM.
Yeah, GM.
And congratulations, Pons and Josh.
I mean, that's the beautiful thing about this space.
You know, last week we had founders, some founders having meltdown.
You know, this week you see founders, you know, finding creative ways.
And in your case, you know, NFTs for good, you know, helping out coffee farmers and countries and communities. But the question
I wanted to ask was, I saw in the timeline, and as we're learning, and you know, you gave a
response to it, so we could learn a little bit more from your point of view. Somebody was talking
about the fact that, you know, this would cause some kind of conflict possible conflicts with open sea or with platforms
and you know your response was well you know you know kind of you didn't say you don't give a shit
but you just said it just speeds up the process there's a much better response than that yeah
yeah in february so can you just elaborate on whatever all of that about is yeah i think i
think they're they're concerned
and actually this was uh and i uh i don't want to be disrespectful i don't remember the name of their
project but they did something where i think they tokenized their um their shares or something like
that and openc delisted them or wouldn't allow them on there because openc is trying to make
sure that their platform or marketplace doesn't trade securities.
So if they get a whiff of that, they delist your project or whatever the case may be.
So I think that that's what they were talking about.
I had several people in the comments on that post that said something about, well, OpenSea
might delist you or whatever.
And we have no intention of staying at OpenSea, so I really don't care.
And they would save us the dev work if they blocked us.
But, yeah, I think that's what that was about, is OpenSea, because they're a platform,
they don't want to be, they don't want to get in trouble for selling the security on their platform,
unregistered security on their platform.
So anything that they get as far as a whiff that something might become a security, they delist.
That's what that was about.
But you know, when you say you have no intention of staying on OpenSea,
is that like, are you looking at the Yuga, Magic Eden? Are you looking at creating your own
marketplace? You know, as an entrepreneur, you know, what are you thinking? We've got our own
marketplace, but we'll go, I mean, we'll block OpenSea when they stop supporting creator royalties, which they announced would be February.
And we'll stay on any marketplace that allows us to continue our business model as it relates to the plague and the frogs.
But I don't believe, my general opinion on that is that these marketplaces, for the most part, don't create demand.
I mean, obviously, Blur did with incentives. They didn't create demand for the most part, don't create demand. I mean,
obviously, Blur did with incentives. They didn't create demand for the project. They created demand
for trading, which creates volume for the projects. But the projects create their demand.
People didn't buy a Bored Ape because they saw it on OpenSea. They went to OpenSea to buy a Bored
Ape because they saw Bored Apes on Twitter and wanted to be one. Same thing with Frogs and other
projects. So we'll go wherever the marketplaces support our business model.
Where they don't, we'll just block them.
Thank you so much.
And it's so great to hear you say, you know, the projects create their demand.
Thank you so much.
I'm done talking.
Pleasure talking to you.
No, it's great.
I love the way you put that, too.
It's like, you mean to tell me people didn't go on open sea and say like hey i want to pay sixty thousand dollars
for this monkey in clothes like it's just it's such an obvious like assertion the way you said
it but it's also i think a lot of times the way people maybe aren't thinking about it they're
worrying about like open sea home page or discoverability and it's like wait a minute like
what's actually driving that buying activity um so anything I've ever bought from the trending section in OpenSea, I lost money on.
Just put it that way.
So if you're buying on the trending section, you're too late.
There's a joke to be had here about being front run by employees, but that's a way throwback to early 2021 on the front of the OpenSea page.
front of the OpenSea page. But look, no, I think that makes a lot of sense. It's like,
But look, no, I think that makes a lot of sense.
you know, and so if you are a holder of the plague, it seems like, like to me, you know,
I had somebody say to me similar in a DM to your point, like the funny part was people were like,
oh, they don't have value anymore. If you buy one, it's like, to your point, are you saying
all NFTs that haven't given out equity don't have value or be like this thing that you didn't know
existed yesterday when this, the plague had a value of you know half an eth or whatever suddenly uh it changes there but i've heard people say like
look the like why by now if you're not going to get the equity um it's almost like missing an
airdrop and to me it's kind of that's the backwards way to think about it i love your take on this
my perspective is okay so you've cultivated a community that clearly is in it to win it. We see that anytime I even tweet about the plague in any way, shape, or form. So you've done that. You have then built
a business, which is allowing people to potentially make money along the way and actually reward
people every step along the way in this company. And now you are doing equity as a surprise to
people who held by a certain snapshot date my perspective would be you seem to
have found a way to engage and involve your community every single step of the way so like
why it's like when people be like well i want to buy a mutant now because they already dropped dogs
and then they dropped mutants like well they already dropped mutants and then they dropped
the token they're like well they already dropped the token then they got the deeds right but they
already dropped it's like at some point you got to realize maybe you're just taking care of your
holders i don't know if you have a perspective on that yeah i mean i think it's it's i think you nailed it i don't need to
add to it i think um if giving equity to holders that helped get you to where you are means that
the project has no more future value um or utility then again i would argue that you better just sell all your nfts because
they haven't given you equity either so it's it's a it's a weird argument it really is
yeah it's a shallow it's a shallow argument is what it is it just takes a couple couple
couple of seconds of thought and progression to understand that that's not really
it's you can be mad that you missed it but it doesn't void all future utility of a project.
Before I'll talk about the cap in a second here, because I know he has some bigger stuff to ask you and discuss as we go. But I have to ask like one more question that I think has come up a couple times in DMs, the chats, etc. So it's worth asking, what has been a preventative thing from you doxing? I know you've answered this in this question before, but definitely worth bringing up here. Yeah. I think part of it, the biggest part is, again,
I don't just run an NFT project and the business that I'm in, the industry I'm in, I just can't
imagine the conversation of somebody saying, hey, are you that frog on the internet? It's kind of
like, I would just quit. I wouldn't want to
deal with it. So that's part of it. I have a professional career outside of here, and it's a
very weird space to explain. Part of it is, is there's a lot of crazy bastards in this place,
and they will, I don't trust them to know who I am or where I live and those kind of things.
I've got a family and kids, and I just don't trust them.
I actually had an issue early on, even before I was a founder with some crazy guy that didn't live too far from me is trying to figure out where I was. And I was like,
dude, this place is nuts. So that's part of it. And I, and eventually it's going to happen.
I've accidentally doxed myself to people that I'm doing business with in the background.
They're all in our NDAs, but eventually it'll happen. I'll accidentally, I'll screw up and
something like that. And I'll deal with it when it does. But actually to me, it's kind of fun
right now being an anonymous founder. And we're, our goal is to be a top five NFT project. And I
think it'd be really cool to be, to do it as an anonymous founder, um, and flip the script upside down. People forget
that the board eight founders were anons until they got forced doxed and they were super successful
before that. And you know what D gods was super successful before Frank doxed and I can go down
the list. So, um, I think it's kind of a, it's just another one of those straw man arguments
that are thrown up from people that, oh, you know,
if you're doxed, if you're not doxed, you're a rugger. And there are a lot of ruggers who are not doxed, but I don't think it's the end all. Ponce, what does a top PFP project or top NFT
project mean to you? One of the things that excited me most about this recent run up is
not only did I see your comments talking about, hey, we're not one of those. We don't talk about the floor.
I saw it from several other community members,
like getting ahead of it and checking others,
but like, hey, let's just keep our cool.
We don't need to be talking.
We flip this project.
We flip that project.
So while the floor isn't a leading metric,
what does a top PFP project mean to you?
five NFT projects without giving them a list or name five of the top NFT
projects without giving them a list of the projects.
I would want the plague to be in within the top five of those that are named.
So to me,
brand awareness is what I would,
what I would equate to being a top five NFT project.
You're going to get me all hot and bothered talking about unaided brand
awareness up here.
Marketing is my background and you're sitting here going unaided.
I mean,
honestly,
I've been saying for a while that we actually should be doing a uh aided and unaided brand awareness
studies within the uh nft uh community in general because i think like it's funny because like the
aided brand awareness would actually theoretically be uh somebody showing like when people go on the
on the streets and they show a picture of a bored ape and say how much you pay for this and people
are like seven cents that's actually kind of an unaided brand awareness test. It's like,
oh, okay, that's a bored ape. So I'd be curious to see what the aided and unaided brand awareness
is in various subsets of web three, as it relates to various things. Just somebody would have to
want to run that product and do it because there's a whole lot of studies done with that
outside in products. And I think it's a really smart play to say,
we want people to say, like, name an NFT project
and then to be like, oh, there's, like, the apes.
Then there's those frogs.
I think the plague.
Then there's, okay, like, doodles are the ones with the puking rainbows.
Like, you want people to have those immediate reactions.
So I like where your head's at there.
Yeah, and just to be clear, we're a long way from that point.
But that's where we're at.
That's our target.
Right on.
Depressive Hacks hacks go ahead and get
in here gm guys um i meant to be here eight o'clock and i am not a morning person so i'm a
little late so i apologize if this question was maybe already covered please just like gently
tell me um but uh i wanted to ask ponds so there was a lot of posts yesterday about how few frogs are actually listed, which is super impressive for the community building.
And, you know, the stats are just kind of crazy.
I was wondering, you know, given that there is actually a chance that 0% could be listed in the future with everything that's going on.
Is there any other way to get involved in the ecosystem,
either currently or being built out, that isn't necessarily owning one of the OG frogs?
Yeah, so first of all, I would say we're a long way from that.
And listing is a fun metric, but man, that number can change quick depending on where the floor goes.
So it's, I wouldn't say it's a, um, a meaningless metric cause it's not. Um, but it's, it's a ever
changing metric. So, um, but to answer your question, so really to me, the question is if
the frogs ever get to a speculative floor price, that is, um, harder for a lot of the audience to get into.
Because let's be real, we talk about mass adoption. There's no point
where there's going to be the majority of the population coming in and spending $1,000
on NFTs. That's just not going to be the case.
If we get to the point where there's a barrier to
entry to becoming a frog, first of all,, we got our frog tank projects, which create opportunity in our ecosystem.
Uh, we've got more of those coming out soon.
Um, we've got existing ones and new ones coming, but second of all, yes, there are ideas that
we have.
So we've got this plague proliferation process that'll be rolling out sometime this month,
um, which allows you to take a frog and move
it to another chain. And when you get to that other chain, you can create a mini collection
of frogs using your traits and some of the other traits on those chains. So it allows
you to, allows holders to benefit from spreading our, spreading the plague, as we say,
on other chains and creating sub collectionscollections of their own and
those kind of things. So there's lots of ways that we can do it. That's just one of them.
There's another idea that I have that I haven't announced yet that we'll do later on down the
road should we need to. But there's lots of ways to get into our ecosystem. I would say we're a
long ways from having to worry about that now. We've still got plenty of room to grow.
Our holder base is like 3,400. So until we have 5,000, 6,000 holders is probably not a problem we need to worry about.
So wait, I just want to make sure that I'm understanding this right.
Are we getting alpha as we speak?
You said you haven't announced this before?
No, I haven't announced.
Which one?
The plague proliferation process?
I've announced that.
But we haven't made a huge deal about it really yet. Most of the frogs knowiferation process. I've announced that. But we haven't made a huge deal about it
really yet. The frogs, most of the frogs know about it. But yeah, so that is a, to me, that's
a, one of the problems we have with the frog tank is we're moving forward other PFP projects, which
is not really helpful for our brand. In fact, that's something the seals do pretty well,
is that they're creating derivatives of seals,
kind of like Miladies created,
derivatives of Miladies and so on and so forth.
Doodles, all the doodle derivatives
that came out in the bull last time,
those proliferate the brand.
We've been pushing frog tank projects
that have new PFPs and those dilute our brand.
So this is another way for us to push potential frog tank projects to have new pfps and those dilute our brand so this is another way for us to push
central frog tank projects to using frog pfps or just people that want to take their frogs and
create their own little mini collections on other chains using layer zero love that that's awesome
it's been part of our plan since february of last year we announced it no it's it's cool and it's
like you know again like i just like i just penned a court article for Point Desk, Coindesk kind of specifically about this, where it was like, you know, look, the future is going to have to have applications across multiple chains
and be affordable and approachable.
And affordable and approachable is not $1,000 or $2,000 for most people.
It's going to be $7, $10, $12.
And again, we've seen that with a lot of the smaller ones
where Nike shoeboxes even being $25 is like,
oh, that's a little expensive for the average person
who's
buying in who isn't native to Web3. So understanding like $100 is a high barrier to entry,
let alone $1,000. So you're thinking of ways to get in that are a little bit more approachable.
Yeah. And the chain maxi thing, I'm not a chain maxi. I mean, I have my preference of ones that
I use, but to me, it's just kind of if you're an NFT project to be a chain, Maxie is kind of
weird. If you have the ability to branch out, it's like it's like the shops that you go in that don't
take American Express. You're like, seriously, for one quarter of a point more on your credit
card fee, you're not going to take this this customer. It's just kind of a weird thing to me.
So that's the way I look at the chain thing as well. Yeah. Yeah. I mean, that's not just a
customer. It's like that's what like airlines and stuff issue their highest end credit cards on like you don't want that customer in your
shop using it that that's that's interesting that's a you talk about bear to entry i've run
into that a few times where it's like all right let me find my other credit card cool i've literally
had to leave stores before because all i had on me was miami yep yeah i live i live in a small town
and for whatever reason these country bumpkins and i'm
trying to somehow i've become an evangelist for american express i'm like listen i don't
understand why you won't take this card it's like you're literally paying two cents more
by accepting this and instead i have to go somewhere else because i don't have any cash
on me and i don't you know i don't have my debit card it's a weird thing that reminds me of the
restaurants that are starting to impose like a% to 4% credit card fee on checks.
It's like, bro, just raise your prices by 3% to 4%.
None of us are going to notice.
It's a far less intrusive way of doing it.
Yeah, the customer experience of raising your prices versus raising a fee on the end.
It's like when people see it that way, it gets a little more frustrating.
And yeah, I'm similar to you a lot of times, especially now that I live in my basement
in sweatpants because I'm an entrepreneur.
I will generally grab my wallet or instead of grabbing my wallet, I would generally grab
like my ID and the credit card I'm going to use and like leave the house.
Like that's all I need.
Like I don't need a million things.
And if I go somewhere and like I happen to, you know, be using my Amex because of whatever
the rewards I'm trying to get on that one. one yeah it is frustrating when you don't get it but i
know we've gone way off the rails cap uh go ahead and save us thanks um tempting how to how to bring
this all back together but i i you know what i'm just gonna go right to it because pawns put out a
a tweet on our post on on new year's Eve. I think I already linked it up above.
If not, I'll go repost it to the very left side here.
I'll drop it up there in a second once I hand it back to Steve.
But basically, for those listening in,
I'll paraphrase, but read the opening.
He said, I need to change my strategy on X.
Over the last two weeks, there were two things running in parallel
on his timeline, the debate over the NFT cabal
and the Frog's announcement over giving equity to their holders.
Additionally, in the background, he was working on sponsorship deals for making coffee.
How did these three things tie together?
What was most interesting was not who was talking about our equity move, but who was not even acknowledging it.
Instead, they were debating ETH for soul, who cares, without even so much as acknowledging
our announcement on a post that had over
260,000 views.
But for them,
the plague wasn't even worth a mention. It turns out
that many of those same people either turned down
requests from
pawns for a sponsorship
request, or they gave him
pricing that they
were famous people charged or ignored him altogether.
Fortunately, Steve, we were not one of those people. And just as Pons was looking for or in
talks with sponsors for making coffee for the last several months, as have we been, we really came out
of, not that it started Art Basel, but that was like our, okay, yeah, we have to do this. We've
turned down a lot of sponsorship deals in the past. We've been very selective. We don't want
to be promoting the men of the week or what's running this week and really looking to avoid
transactional sponsors for, hey, we want to pay you X to come on and do an AMA.
sponsors for, hey, we want to pay you X to come on and do an AMA. While we will do that from time
to time, we've got guests all week. This week, none of them are paid to be here. We invited them
always. We wanted to talk about what they're doing, what they're building, the impact they're
having on the space. It just so happens that with everything that Pons is building and talking about,
it really aligns with us and
the community we've been fortunate to build here on our version of coffee and our aspirations to
grow in this space and work with not transactional sponsors, but real strategic partners that we feel
alignment from far more so than just trading of dollars for services. So with that, very excited, honored to announce that Making Coffee will be a sponsor of Coffee with Captain.
And not just a flash in the pan, rather a multi-month deal.
We'll be talking about, there'll be a daily segment that we'll have a lot of fun with in terms of community conversation.
While not being a daily shill of,
of making coffee rather it will fit into our show.
Just really add to what we talk about already.
And then I'm,
I'm truly excited for a weekly segment that maybe a few weeks away from
kicking off,
but one that again,
I feel,
you know,
we we've had a thing here.
We celebrate wins of the week on Fridays and I'm looking forward to maybe a little bit of a foreshadowing how we're going to be able to
celebrate some of those wins of the week moving forward in a much more community driven approach.
And I just landing the plane, truly honored to work with Ponds and Plague and making coffee
as it's far more than just a transactional sponsor,
but truly one that Steve and I have been impressed.
And we've been fans of Pons and the Plague
since the first time we had a chance to interact with him.
And it's not just a line we use
that we talk about how fortunate we are
to have guests on here so frequently
that are really pushing the space forward.
Like, I'll use Steve's line,
unless you've been living under a rock,
you can't,
you can't debate that,
that Pons has,
has been moving the space forward with,
with not just his actions since Christmas day and this announcement.
This didn't happen overnight.
This has been years in the making and,
and,
and he,
they,
he's done what he said he's going to making and, and, and he, they, he's done what
he said he's going to do. And from, you know, Steve, you often talk about people doing things
with intentions in this space and the thoughtful, intentional approach that he's taken. It's
something that, uh, speaking for you, I think we're, we're very excited to align ourselves
with and, and have a deeper working relationship here as we head into 2024.
Yeah. Grateful for that as well.
I'll just echo everything you said
and very honored and excited for this
just because, you know, again,
we don't like, you know, look at this.
We always try to look for ones that are really good fits
that aren't going to compromise the shows we talk to.
And this is one that just made a ton of sense.
And again, like one of the things we always enjoy
is we always enjoy having Pons on here.
We enjoy the conversations.
We enjoy the community.
It's something that I think gets us really excited because we're able to like, you know, like it's fun to kind of talk about the DGEN stuff, both of which are innovative, revolutionary things in this space, both of which Pons and that team are pushing.
So we're excited to kind of partner up there and have that.
And I know we're running up against time, but just something that we just want to thank you, Pons, for as we move forward and looking forward for this partnership.
As we said, for months, not like a week or a day yeah i said gary's post we've had several that i've been
queuing this up i had to bite my tongue several times especially over the last week as many were
suggesting this and we appreciate the uh others feel there's a little bit of alignment here as
well so appreciate all the all the supports and all those guesses in the chat over the last few weeks.
It really is...
I don't know if it exactly came together back in October when Gary first suggested it,
but it's been something that's been in the works for a bit and really looking forward to...
As Pond said earlier, we'd like to help make Making Coffee the coffee brand of Web3.
And we saw the impact that the community had with Pudgies and Walmarts.
And we've seen that network effects really work and start building real traction.
And with all the good coming out of this brand, it's one we're not only excited to support and get behind, but, um, you know, grateful to be grateful to be,
uh, along for the ride. Yeah. I'm, I appreciate you guys. Um, well being partners with us for
sure. Uh, love, love your show and how you guys handle yourselves and the way you, um, present
not only your opinions, but, you know, bring other people out in from within the space to
give their opinions. Again, I just
like what you guys do, and I'm excited to be working with you. We do want to make Web or
making coffee the coffee brand of Web3, but what I mean by that is not that I want a bunch of Web3
people to buy it. We certainly do want that, but that's not the point. What I mean by that is when
you go into a grocery store and you see our coffee on the shelves, which that is going to be a goal of ours. And we're going to make that happen one way or another. And in
different forms that you're like, Hey man, that this came out of the NFT space and you can scan
our huge QR code and get engrossed in our story when you do it. So we really do want making coffee
to be one of those brands that was born out of this space the right way.
And looking forward to working with you guys to make that happen.
You were talking about launching things too early and those kind of things.
And I would say our website did launch a little bit too early so that we could get all of our claims in in December.
I wanted to get as much of that shipping cost into 2023 as possible.
So we launched a little ahead of time.
But over the next couple of weeks, the full site will be up and running
and we have a lot of cool mechanisms to use
both with you on your show and
with communities in the NFT space
to help further the brand and
reward everybody for helping us further the brand.
So thanks again. I'm looking forward to working with you.
Awesome. That said, Cap,
look, really good conversation this morning.
Before I throw back to Cap
for any other finding thoughts, Pons, anything we didn't cover this morning. Before I throw back to Cap for any other finding thoughts,
Pons, anything we didn't cover this morning that you were waiting for us to ask?
You were like, yo, I'm sponsoring you guys,
and you totally missed the ball on this one.
Ask me this.
No, no, no, no, not at all.
Not at all.
In fact, we got so engrossed in the conversation,
I forgot that was going to even come up, to be honest with you.
So I'm glad you guys brought it up.
So thanks.
Nothing else.
Awesome. Well, look, appreciate you coming by this morning. So thanks. Nothing else. Awesome.
Well, look, appreciate you coming by this morning and having this conversation.
Appreciate your leadership.
Poppy, we'll give it to you before we close it down.
Go ahead and get in here.
Yeah, just first off, I was waiting for the coffee and coffee collab.
So I'm happy that that was announced.
Pons, now that I'm an equity member of the plague,
Wend Lambo.
And Josh, congrats too.
I know you and I chatted and you had something in the works.
So excited to see it.
And it's pretty cool, you know, that like multiple people,
multiple thought leaders, good quality people, thinking in same, you know, in that same lane.
And it's kind of crazy. You guys like three people announced very similar action.
Sorry, crying baby. Very, you know, at the same time.
So pretty cool. I think Ponds, you nailed it.
And I think when I listen to you speak ponds you
come from such a place of wisdom and experience sorry guys got the cotton baby
no baby's bullish on the plug baby didn't like being front run was thinking about giving equity
to his shareholders and now or his token holders yeah and now he's pissed he's like you know he's
like look this is crazy why do we not have enough frogs he was he's pissed. He's like, you know, he's like, look, this is crazy.
Why do we not have enough frogs?
He's been lecturing me for the last few hours.
Joke's on you, Poppy.
I know you're a whale, so I gave you a special kind of equity that if we have debt, you have to pay it off, too.
You don't just get to – so you've got preferred equity.
You know what?
I'm an American citizen.
I'm used to this type of financial favor from governing bodies.
So, you know, Pons, I don't know if you can get any better.
You're too good to me, man.
You're too good to the space.
But listen, all joking aside, you and I suck at connecting on calls.
We've missed each other mutually probably five times.
But anyway, I just use this stage to say you always approach things with wisdom.
And even the way you talked about the doxing thing, I think it's something that I concur with as well,
because I do run and consult multiple Web2 companies in the direct sales space.
One of them lives.
One of them is a crypto company.
And I've chose to remain poppy and build for that reason.
And I think that, you know, when you build a reputation in Web3 on Twitter,
you can build a very strong trust over time.
And I love it.
I could give a crap if you're Ponds or pete or paul or whatever
uh doesn't doesn't matter um so great work i think you're you're taking chances and uh we'll
be watching and supporting very closely and if this works you may have created a whole
different paradigm or paradox like you said that could that could evolve this space. So just, you know,
great job. I just had to give flowers, not just sit up here and listen. So good stuff.
Thanks, Poppy. Appreciate you.
Pons, I have to ask a question because you, you, with Poppy, you just mentioned about a whale,
sorry, Steve and Kat, you know, you said something earlier on that really interested me.
And this is about the fact of the tech and how the tech fills the gap or can fill the gap for founders.
You know, as a collector, people say, you know, the tech will show us, you know, who you are when you connect your wallet to whatever websites in
the future that will be your digital identity. But you said something earlier on that really
fascinated me. And I want to know how far you're going into this because you said, like, say,
puppies are whale, but there might be somebody that bought, you know, plague on day one,
and they only have one plague, but they've held for so long. And you said that part of what you're
thinking about is rewarding people that bought early and stuff like that. And, you know, and
have held. So, you know, rewarding is not just you know gifting them
shares from a certain date but so you're using the tech and your devs are looking at that for
different time frames uh points years i mean just talk about that i'm done talking. Yeah, yeah, real quick. So, I mean, that's an obvious way to use the tech is you have the on-chain record of who's been supporting you and how and those kind of things.
And so, for sure, those that have been here from the beginning have had plenty of opportunities to sell at large multiples, really.
We've minted for $100, which was .032 ETH at the time. And they've held,
they've believed in what we're doing, they've supported us, and we'll reward them in kind
with the shared distribution. So again, and I'll end with this, because sometimes I think people
listen to what I say and, you know, decentralization of opportunity and think I'm some sort of
socialist or something like that. It couldn't be further from the truth. Decentral of opportunity says opportunity, not outcome.
And so what we want to do is we're giving everybody the opportunity to join us, support us.
The outcomes will be different depending on the timeframes and luck and the amount they've
supported us and those kinds of things. But that's, that is the, the, the heart of our ethos is we
want to, again, we want to build a brand with our community and we reward those who help us
build it.
Love it. Well, look, thanks Pons for joining this morning.
Excited to work together, excited about everything we have moving forward,
excited about making coffee, excited about the plague.
Really cool, you know, just to be involved here and yeah,
excited to finally make this thing public. And as we move forward, we will move forward together.
So thank you for coming by this morning.
Thanks for all the great information.
And most importantly, thank you for being an innovator in the space,
because I think that that's something that can't go sort of unrecognized,
you know, in this world where I think we don't always have, you know,
people who are, who have sort of the best interest in mind of the space. And we know that with you beyond the shadow of a doubt, you're
always sort of thinking, thinking for the best in the space and how you can sort of, like you said,
not that you're not trying to make money, but you're, you're trying to do things in a way that
actually drives some innovation and not just sort of, you know, do things as the status quo. So
appreciate that thought process from you.
That said, thanks to everyone who stopped by this morning.
We are getting ready to wrap and head off into our day.
Thanks to Pons, our special guest.
Thanks to everyone who came through.
Again, we're going to have it firing all week.
We got Quirkies coming up on Friday.
We have Magic Eden coming up tomorrow, so it's going to be a busy, busy week
or maybe Magic Eden Thursday and that Friday.
I don't know.
We're busy.
We're busy.
We got a lot going on, Cap.
Dudes tomorrow, Magic Eden Thursday, Quirky's Friday.
There you go.
There you go.
Oh, that's right.
Doodles tomorrow.
We have Ingi tomorrow.
Awesome.
That said, thanks to everyone who came back this morning.
Looking forward to talking to everybody bright and early tomorrow morning at 8 a.m.
Have a wonderful, wonderful wonderful day everybody.
This episode is brought to you by
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bringing you the very best content
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