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FOMO HOUR: IT’S OVER??? + BRAND COINS WITH OSF
Recorded: May 30, 2025 Duration: 0:43:49Space Recording
Short Summary
In a lively discussion, crypto enthusiasts explored the latest trends and growth indicators in the NFT and altcoin markets, highlighting significant sales, the potential for an upcoming alt season, and the impact of macroeconomic factors on investor sentiment.
Full Transcription
Thank you. you
okay sorry ah that was me check check check check, check, check. Check, check.
Okay, it's working.
Okay, cool.
What up, what up, what up?
Ooh, massive X copy sale on Gandhi.
What happened?
Damn.
Someone just paid $1.1 million for an addition to 10.
Some people still have money.
Jesus Christ.
What up, what up, what up, Cookie?
What up, Diego?
What up, Leigh?
What up, Belex?
Arcadius?
What up, Dinero? What up, Harry Christian? Messy? What up? Cookie? What up Diego? What up? Lay? What up? Bellix? Arcadius? What up? Dinero? What up? Harry Christian? Messi? What up? Some?
What's up? What's up? Germanthus? What up? Donors? What up? Poor? Yeah. What up? John Gauthier? What up? Life of you? I want to see some retweets.
I want to see some retweets. If you want to make some money today on the show, I want to see some retweets. Oh, fuck. Hold on.
Jesus, I'm all over the place when Sims is not here, man. I swear to God.
What's up? What's up?
One second.
One second.
There's a lot of red guys.
You can't hear me?
Can you hear me?
Ovi?
I can't.
Can you hear me?
Check, check.
I can hear you.
Oh, I can't hear you.
Yeah, yours is working over you for a second. What do you mean? We can't hear you. Yeah, yours is working over you for a second.
What do you mean?
We can't hear you.
One second.
I know what happened.
One second.
Check, check.
Okay, you're good now.
I know what happened.
Okay, cool.
Okay, perfect. What's up perfect what's up what's up
on spaces
can you guys confirm
let me get Obi on stage
can you guys confirm
that you can hear me
if I can just get some thumbs up
okay can you hear me
I can hear you on spaces
okay perfect
perfect
what up Griffin
Griffin
I know you did it Griffin
what's up what's up
what's up what's up
what's up
alright I gotta start the show
kick it Thank you. Yo, yo, yo, yo, yo.
What up?
What up?
Good morning. Good morning. oh, I forgot to press
go live, god damn it, dude, I, I'm, I, okay, now we're live, dude, it's, and I forgot to
play the music, it's so tough without Sam's, hold on, yo, yo, yo, yo, yo, what up, what
up, good morning, good morning, GM, GM, Friday, woo, wow, what a Fridayiday may 29 30 30 wow may 30 2025 look at that another beautiful day
to have a beautiful day i got my coast in the house whoo ovi been a while i hosted a show with
you ovi good morning how you doing today good Good morning, man. Yeah, I'm good. It's Friday. Market's not great, actually. We're off the lows on Bitcoin, at
least. We're off the lows on Bitcoin. Yeah. Off the lows on some things. But yeah, I'm
good. I'm glad it's in the free. We're definitely, BTCD is definitely hammering up and my bags are definitely hammering down. Yeah. That's for sure.
That's for sure.
Every time.
Every single time you got MFers on the timeline saying BTC dominance topped
or alt season.
Man, I was literally about to put out a post like yesterday about like,
oh, I really believe in alt season.
I'm putting my balls on the table.
We're going to have alt season.
I'm glad I didn't because it would have been bad timing.
I will do at some point.
I just have to find the right moment.
I still do believe that.
So hold that thought because I do want to talk to you about this because I put a pullout yesterday about,
do you think there's going to be an alt season?
And then the market dumped.
But hey, I'm just asking the questions, everyone.
I'm not calling alt season.
I still have not made my personal all season call.
I'm holding it for an hour I'll be right, Ovi.
You know what I mean?
Because then I can be like, I told you so.
That's how you do it.
Exactly, that's how you do it.
We're like experts now.
You know what I mean?
But hold that thought because I do want to talk about it
because I put the poll out.
I'll pin it also to the top of the Twitter space.
Still on the show, guys.
It's going to be a short and sweet little morning show as Mando and Tyler are out and about.
So it'll be just Ovi and I.
We'll chat markets.
I was thinking maybe Ovi and I can chat markets, especially because we just dumped and we're heading into the summer.
And the summer is known to have low volume, low this, low that.
But it could also be fun.
So at least summer 2021.
So let's talk about this.
There's a lot of news regarding the tariffs and everything.
So I want to talk about this.
Then let's talk about,
you know,
let's talk a little bit about like building the space.
I'll talk about Rack.
I'll talk about brand coins.
I want to talk about all this stuff.
So we'll talk about,
about some stuff Ovi's been up to.
I know you've,
you've actually been cooking.
Love that.
You know,
the timeline and then we'll do the giveaway as usual.
So we'll,
we'll give some money away to,
to a lucky winner.
Someone will come on stage and we'll pick from the win, from the referral list. We'll let Ovi pick a number and we'll give some money away to a lucky winner. Someone will come on stage and we'll pick from the referral list.
We'll let Ovi pick a number and we'll give someone some money.
And then last but not least, this show is powered by Wallet Connect.
Wallet Connect is the connectivity network shaping the future of on-chain UX.
If you've connected to Web3 app, you've seen Wallet Connect.
That blue logo, it's everywhere.
An icon of trust in crypto is recognized by Visa at checkout.
Want to learn more,
follow at Wallet Connect on X
and Telegram to stay ahead
of what's next.
Their founder and core contributor
was on the show yesterday,
so you can definitely go back
and check it out
as they're cooking.
Ovi!
Ovi, Ovi,
I'm curious your thoughts
on the market here,
but first,
I do still have your jingle,
so I may as well just hit it.
Daily Market Report.
Brought to you by Rub Radio.
What's the word?
Oh, you're muted.
On StreamYard.
Can you hear me now?
Yes, sir.
Sorry, I'll just read it from time to time because it's a bit noisy where I am.
Market, you know, like,
I think I tweeted a couple of days ago
that I was like, we're probably going to see
some sort of liquidation on Bitcoin.
Like, it's very clear.
Obviously, you know, the elephant in the room
is James Wynn and his massive positions.
And I think when you do that from one account in such a public fashion,
you're easy pickings for big whales, right?
It's very easy for a bunch of people to gang up, short it, push it lower,
liquidate you, cover their short in that liquidation, go long,
push it back up again.
That's exactly what happened.
And I think the WIC went down to what, like 104, 103, I think?
I don't even think we went that low yet.
I think it's a pretty decent wick.
Maybe I could be wrong.
1046, yeah.
Okay, 1046.
Not too bad, but obviously people had shorts to cover there,
so they did.
So I think that's what has happened on Bitcoin.
I just saw he's gone long again.
Yeah, but it's much smaller size.
Oh yeah, he doesn't have size anymore.
Never mind.
Yeah, like 48 mil or whatever.
I mean, that's still not nothing.
But yeah, it just feels like there's a lot of long and leverage hunting.
I think if you looked at a lot of the meme coins that ran up
over the past few weeks,
stuff that, you know, BompGuy was talking about, etc.,
a lot of them had relatively high leverage,
like people just, you know, big lever positions and that there'd be money on.
So seeing some of that stuff wiped out, I think is just a natural course of action.
I think once this all cleans up, my guess is we continue to go higher.
I'm continuing to rally.
And on a macro standpoint, I'm still pretty constructive
and pretty bullish as well.
I think the tariff headlines we had over this week,
to me, they were like nothing headlines.
I was kind of surprised we rallied on that court ruling.
And I wasn't surprised that they overturned it.
I personally thought that was kind of like a nothing headline.
And I don't think that's really the real reason why we rallied.
The market right now is trading to me.
People want to buy risk.
People want to keep adding.
And US money supply is still going higher, still trending higher.
So I think we will bounce from here.
That's my hunch.
Yeah, I mean, this range, I mean, on the show we talk a lot about the range.
So this has been kind of the range, whatever.
What it was, like 90K, 104K, the range we've been in since, like, November.
Yeah.
And we broke out of it, and then we've kind of been ranging since.
And so we were expecting to kind of kiss it again, top range.
So that's kind of where we bounced this morning.
Yeah, it's kind of, you look at that chart, and again, I don't believe even charts,
but look at that chart and it looks like to me
that we're at a level where we should bounce.
So that's my hunch.
And I know Bitcoin dominance has gone up,
but I think that's partly due to a leverage wipeout
on a lot of the other stuff.
And I think people getting a bit scared,
taking profits, all that kind of stuff.
But I do think, I'm a believer in alt season.
I do think we will see alts rebound very quickly.
I think there's a good spot here to buy alts or buy memes.
Anything that you like a lot that's down.
Or maybe anything that you like a lot that isn't down,
but is outperforming the market.
That also often shows its hand too.
So I would look to go shopping, I think, with this price action. That's how I feel.
Look at the total three chart.
It's been the same price since
it's back to May 2021
actually it's back to May 2021 prices.
Yeah, exactly. It's crazy, right?
That's insane.
I just think the last time we had a proper alt season was
summer 2021 and I think, yeah, I just think, you know, the last time we had a proper alt season was summer 2021.
And I think most people have accumulated so much PTSD since then
that no one thinks it's going to happen.
And people are so scarred that they want to fade moves higher.
They want to keep selling.
No one is like, I don't think many people are prepared
for the style of price action we had in 2021 when things can go like 10 to 100x.
Every 100 million coin is a billion.
Every billion dollar coin is 10 billion FDB.
Things can just gap very quickly because of how constrained supply is in some of these tokens.
And because of how low liquidity is when a lot of capital
comes in at the same time, things can go really parabolic.
And that parabolic move, when it happens, that will be some sort of a blow off top.
And you're absolutely meant to sell into that.
And it may only last for two weeks.
It may only last for two months.
I'm not really sure, but I do think it will happen.
I think we're going to see it.
I have a feeling we're going to see it this summer, to be honest with you.
That's my belief.
Yeah, I mean, I put a poll out yesterday.
I retweeted it for those of you who want to participate in the poll,
but we have, what, 10 hours left?
768 people responded so far.
Do you think we're going to get an alt season?
56.4% of my following so far thinks we are.
So let's talk about this.
I'm always scared of calling for alt season.
Like I said, I've never called it. I don't want to call it because this is a weird cycle because like
it's alt season but also not every alt right just because an alt was like like 10 billion dollars
last cycle i mean it's going back right um and so you have eth trading at 2585 so this actually
held pretty strong this time around i think it barely kissed 2800 on the joe lubin news with
sbet and everything.
Seoul is back down to 161,
not looking great. And then you have like, you know,
Farcoin's been the leader of this cycle. I mean, it's
got really hit pretty bad
from 160. Pepe
is also another leader of this cycle, back down to
540. Mogg is another strong one,
back to 393. You guys have been strong.
I mean, barely down. And then Hyper
Liquid has kind of been the winner of
this second leg of this cycle so far
back down to 32 from what?
high. So you seem to think we're getting
an alt season.
When would that be? Do you think this is
kind of like a summer
thing where
Bitcoin relaxes a bit and we get an alt season
like in 2021?
I think it's the summer, yeah.
I think we're very close to it
and I think we've
started to see signs of it.
ETH staging a comeback,
Bitcoin dominance looks like it's topped,
you're starting to see
memes rebound, you're starting to see
some good stories on
alts out there as well.
I think we're very close to it.
I think it could well be the summer.
I've said this a few times this year,
but I think we're in for what is famously known as the lovely summer of risk.
And the last time that happened was 2021.
So that's my bet.
I think that's what's going to happen.
And I think the way that I view it, right,
it's going to be one of two ways.
Either it does happen or it doesn't happen. If it doesn't happen, what's the pullback going to happen. And I think the way that I view it, it's going to be one of two ways. Either it does happen, or it doesn't happen. If it doesn't happen,
what's the pullback going to be?
20, 30, 40, maybe
50, 60, 70% on some alts and memes.
It could be a nasty pullback if you get a pullback.
But if it does happen,
if it does happen,
things are going up, 10x
plus, there's going to be
a lot of 100x's out there.
So for me, it's like
it's not a zero probability.
I think it's a greater than 50-50 probability.
But even if I only thought it was a 30
or 40% chance, even if I only thought
it was a 20% chance,
I would still try to position for it because
if it does go up 100x
or whatever it is, or 10x,
there's a lot of money to be made there, I think.
And I just want to take that gamble.
I want to take that bet.
That's the way that I view it.
I think that's a bet you want to take.
It didn't make sense to take that at various points.
Maybe it did make sense to take that at some points last year,
but throughout Q4, it didn't really make much sense
because you could see that Bitcoin was the thing.
But now, I think it's worth gambling on that.
I think it's worth a gamble.
It's a bet.
It's not necessarily an investment.
It's a bet.
But I think it's a good bet.
Yeah.
I mean, you wrote about this and I saw the clip on Rec Radio, which was hilarious, by
the way.
But a lovely summer risk.
All tariffs, dips, continue to be great buys, bears and otter shambles, probability of alt
season drastically increasing, prepare for a lovely summer risk. Many people will be making fortunes i do agree with that um personally
speaking obviously i'm positioned for it as well um but like i was saying earlier i don't think
it's gonna be all alts not all alts are created equal right um especially this cycle not all
memes are created equal either only specific memes pump in the last recent uh pump here
how would you pick the alts, though, this time around?
I know your head's all in what you're building with Rekt
and you're busy with it.
And obviously you're bullish on that,
so you could use Rekt as an example, I guess.
But where's your head at with this cycle for alts?
I think I would say memes fall into alts.
I agree.
I think there are some memes that have shown their hand,
like Pepe, Bartcoin.
Those are the only two,
a mog, those are the only three that I would say
I'd feel comfortable holding
without looking at the price all the time.
There are tons of other memes out there,
but the problem is they seem to have a short lifespan.
The same cabals will run them up to 100 mil,
dump them all, and then move on to the next one.
Maybe there will be a really cool coin that will come out
that will last for a few months and whatnot.
Housecoin is a great example.
Everyone was all over Housecoin,
and now it's just like I don't see anyone talking about it.
So I do think memes is a good place to be in,
but the only ones that I would hold for more than a week
would be Pepe, Mog, and...
Farcord.
And Farcord, yeah.
SPX is doing good.
Is that a billion?
Yeah, actually, you know what?
I like SPX too.
Clearly, they have hardcore believers.
It's tough not to give him credit anymore.
Even on the show yesterday,
we were talking about it.
Yeah, he hasn't changed.
He hasn't changed. He's been pushing it.
So fair enough.
And then for alts,
I'm still bullish on the AI stuff.
I think it's worth looking at that.
I think some of this InfoFi stuff
I think will probably do really well
just because everyone is talking about it.
Everyone is farming it.
You might hate it, and I personally find it quite annoying
on my timeline, but if you hate it, everyone is farming it. You might hate it, and I personally find it quite annoying on my timeline,
but if you hate
it, there's probably a reason to buy it.
That's the way I view it.
I think some of the InfoFi stuff will do really well.
Obviously, no,
I'd put Rect in there. Rect is
I guess within the meme coin category,
but we call it a brand coin.
We call it a brand coin over here, but
that's an example of something where
you want to buy, whatever coin of something where you want to buy
whatever coin you buy, you want to buy a coin
with the team that's running it.
And you may not know who they are.
It might be an anonymous cabal
or it might be a docs fader like myself.
But if you want to benefit from alt-seizing,
you want to just find things that you can hold
over the summer where it's not going to get rugged
or where you actually know who the guys are behind it.
You know people are going to be working for it,
working for their bags, all that kind of stuff.
You know, with SPX, you know,
I'm not using this as an example,
you know Murad's not going to go away, right?
He's going to be fucking making these TikToks
and chilling it as hard as you can
all throughout the summer, right?
And same thing for Rex.
Like, you know, I'm not going away,
and you know that we're pushing it aggressively,
and you know that's my self focus now
so I think with those kinds of coins
if you're not in the whole rotation game
those are really good
high convexity
plays on an alt season
where shit like that can literally
just 10x in the blink of an eye
and before you know it
suddenly it's out of billion
so that's the stuff I personally would look at.
Yeah, I agree with you.
I think the ones you named are true
and I'd rather buy a coin where I know
people are going to be building in it
for a while or at least on the downside
you know that they're going to be...
When you guys went from 100 mil, 125 mil
to $12 million, it's like what, 90% Rick was down?
Yeah, pretty much 90%, yeah.
90, 92, something like that.
But at least you were like building something and then markets turning around
and all of a sudden you have like the shipwrecked and the fucking abstract
and the next one and the next one and the LA thing,
whatever's going on you're announcing.
It's like, oh, wait, this thing's back up to 120 mil.
Oh, no, I meant, but it's like.
Yeah. I was telling Ovi, there was a point in the cycle earlier where like i had to i sold a ton like almost i've sold
everything and i just kept wrecked because i was like whatever it's down 90 but it's ov yeah this
is going to build and then i bought back my coins but my rec was also backed all time with it so it's
like okay it's perfect so it's like i think you're a good example obviously talking my bag here but
at this stage people know,
and there's a lot of red guys in the audience.
But this applies to not just Ovi, right?
It applies to like just, and not just Rekt.
It applies to like other people that you think
are building something in the space
and are going to stick around.
Some people like LaunchCoin.
Now they're going to go probably
through their hardest phase right here,
by the way, LaunchCoin.
And the Believe ecosystem is like,
are they going to be able to sustain that?
But I think another good example of these virtuals,
they like, they came back of the abyss.
Like a lot of people, remember the whole mean like,
oh, virtual is making $12 a day, whatever.
I mean, look, it's kind of like you guys.
Like, it just kind of looks correct.
Full half-flip chart, yeah.
It topped, it pico topped recently at $1.7 billion.
It's chilling at $1.4
from a $200 million low,
$250 million low.
So I would invest in those.
How do you feel about the sole ETH trade here?
How do you feel?
Because I know you've played both.
You were early to ETH stuff.
You were early to moving to Solana.
And you've played the ecosystem pretty well
on the AI and stuff.
And now, obviously,
you're building an Ethereum L1.
I mean, L2 too, I guess, with Abstract
and you have the base bridge.
How do you feel about Sol ETH here
in the Solana ecosystem?
I do think ETH can keep outperforming here.
It feels like the tide has turned on ETH.
I mean, wow, I didn't realize that chart is where it is now.
That's crazy.
I didn't either, yeah.
Yeah, geez.
So from these levels, I'm not sure
because it's had a big correction already.
But I do think ETH will keep doing well here.
I do think ETH BTC, at least, can go higher.
It just feels like ETH now sort of,
the momentum has shifted
where ETH sort of has the wind beneath its sails a bit.
I think people are getting a bit tired of the whole has shifted where ETH sort of has the wind beneath its sails a bit. I think people are getting a bit tired of the whole like meme coin, like internet capital
markets thing going on where like everything is just a scam basically.
You know, like at least with meme coins, it was like, oh, you know, these are people are
not promising you any value.
But like with the whole is like internet capital market stuff I've seen so many coins where like oh we have this
like app in the app store and shit and like I try
and download the app it doesn't even work
and I'm thinking like is anyone else actually
like trying this shit or is it just all
these like web 2 extractors coming in you know
making money off it so
I think that all that stuff's put a bit of a bad taste in
people's mouths for Solana
I do think ETH can have a bit of momentum
here against it I don't hate or dislike Solana I love Solana and I think it ETH can have a bit of momentum here against it.
I don't hate or dislike Solana.
I love Solana, and I think it's a lot of fun.
I think the casino will always be the casino,
and that will always remain.
But it does feel like some of the big ETH guys are making moves,
and the whole SBET thing with Joe Lupin, etc.
There are big guys there making moves
trying to push ETH again.
And that's something I think
you don't want to fade, I would say.
Yeah, that's definitely the case right now.
And I think that's a good take.
And then you have all, like you said,
all the info fi.
I'm actually curious, what's Kaido trading at right now?
It was like a 2 billion FDB the other day.
It's still at 2 billion.
Jesus fucking Christ strong
wow this is good
so you have that and then obviously right now the
Laudio stuff and then you have the newer stuff
the cycle which is like
hyper liquid which is trading really well
it's $30 $31 still
so it's pretty impressive
so there's a lot of good stuff in that sense
and so one last thing the tariff stuff so you're not worried so what's pretty impressive so there's a lot of good stuff in that sense and so one last thing
the tariff stuff, you're not worried
so what's your read on like
I know Trump loves to
call him too late Jerome Powell
and the rate cuts and everything but inflation is high
it's like what's your general sentiment here on macro
JP and everything
I don't know, I think
I'm not that worried about macro
like other people are, my core view is that tariffs will get resolved because they have to.
I think right now it's just a lot of posturing and posing
and people trying to get the best deal for themselves.
But I do think we'll see resolutions.
We see progress, then we see it stall, then we see progress, then we see it stall.
But the general trend of progress, I think, has been up
since we had that big crash in April.
And if you look at the economic data, inflation is still, whatever it is, 2.8%.
I know we expect it to go higher now because of the current tariffs that are in place.
But it's not like we're starting at a relatively low base.
It's nothing that's crazy.
And we're also starting with interest rates and the base rate is still in the mid-40s.
Whereas in 2022, you have to remember, the base rate was basically zero.
And then inflation started to go higher.
And then we were like, oh shit, the Fed has no wiggle room
if shit hits the fan and we go into a recession.
Whereas right now, if you do head into a recession,
in that case, inflation usually stays low.
The Fed has so much room to cut if it needs to.
It has a war chest of room to cut.
So I actually think we're in a pretty healthy position from a macro standpoint.
And I think if you look at the US money supply chart, that keeps growing.
And it is a good leading indicator of Bitcoin.
It always has been in the past.
And once again, it's proven to be true.
And you can see what Raul and Julian Bissell
and the Real Vision guys post about that.
But they've nailed it, really.
And that's why I'm still bullish from a macro standpoint.
I'm still bullish from a crypto standpoint.
I think people are just a bit scared
for spending on
meme coins or something like that.
It's good though. You need these pullbacks.
At some point, you feel the froth.
So it's
often...
Every time I buy a watch, I should sell
my portfolio.
Well, you kind of
do. If you sell some of your portfolio to buy a
watch you've actually like i know but it's like one percent well one percent or yeah maybe
fuck you know what i mean i'm getting like i'm getting i'm getting fucking lana and wiz are
fucking ripping me a new one right now in the chat. So it's like, when did you buy your watch again?
Fuck you.
So, you know, anyways, I do want to move on here to Rekt and what you're up to.
You've been killing it.
I love it.
I love it.
I love it.
I love it.
You're talking about InfoFi, this and that.
I mean, you guys are doing it without any of the, you know, you kind of like the, I mean,
I guess you've built your own brand.
It's different.
Like, even for me, right, it's different.
Like, I don't necessarily need to go through all the InfoFi stuff,
though I think about it sometimes.
But with Rekt, and I think the most interesting post you've put out there,
and we often joke about it on the show, but in a good way because we love it,
is brand coins.
You've kind of coined that.
So tell me, Ovi, what the fuck is a brand coin?
Let me put it this way.
So the meme coin space is a very big space.
Pepe, is that a meme?
Yes, it's a meme.
Is Whiff a meme?
Yeah, it's probably a meme.
Is Trump token a meme?
Probably not, right?
I guess you can make memes about Trump, but it's probably not a meme coin, right?
Is Mog a meme? I don't think
so. I think it's more of a culture coin.
It's more of a movement. Is SPX 6900
a meme? Not really. It's not a well-known
meme. Again, that's more of a movement.
I think within the
broad category of meme coins, which I think the best
definition of that is coins
that provide no utility
and have no cash flows or
revenues um it's a very broad uh term so i think like for us just to say okay rect is a meme coin
it didn't feel like it really classified it in the proper way especially because i think you know i'd
see a lot of comments of people saying oh you know rect isn't really a meme like there's no there's
no meme to be had there.
Rekt guy, I think, is sort of like a memetic character.
But again, it's not really there as a strong meme.
But what I do like the idea of a single brand coin,
which I think still fits into the meme coin category because, again, it has no utility and no intrinsic value.
There's no way you can value it on a model-driven basis.
So let me put it this way.
Let's say you're like a...
Everyone likes some challenger and startup brands out there.
Let's say you find a cool clothing company really early
and you want to support them.
How do you support them?
Maybe you share them on your socials and stuff.
You buy products from them.
Let's say in five years' time,
they blow up and become huge and global.
And what do you have to show for it?
Well, maybe you have some pictures of yourself
buying the early clothes.
Maybe some of those are valuable.
Or you have some bragging rights by saying,
oh yeah, I found these guys five years ago.
But that's kind of it.
As a supporter and an early finder of that brand,
you haven't really been rewarded for it.
Now, let's say you buy some Rekt drinks
and you earn some Rekt coin
and you hold that coin over the next five years.
And let's say in five years time,
Rekt becomes massive and we crush it
and we absolutely kill it.
Will that coin be higher in value
even though it doesn't own the IP,
even though it doesn't directly benefit from revenues?
The answer is still probably yes
because coins trade on sentiment.
They trade on speculation.
They trade on attention.
And if we kill it in five years' time,
it will probably be higher
because we'll be commanding a lot of attention.
And I think the success that we've had
in the last couple of months,
where the coin is 5X, basically,
has shown you that it does trade
on that attention and that success.
So in this instance, if you support the brand
and you buy the products early and you get involved,
when you buy Coca-Cola, you just buy the drink, drink it,
and then you get on with your day.
Whereas you buy a red drink, drink it, hopefully you like it,
and then you earn some of the coin.
And if you then hold it over a few years and we kill it,
you now have a stake in that, right?
You have a stake in this brand.
And I think on the balance sheet of
any brand,
you will have a line which says
goodwill, which is an
intangible asset. And that's generally the value
of the brand. They estimate it. There's no actual number
for it, but they estimate it. So Coca-Cola
will have a goodwill line item on the balance sheet.
I don't know.
Hugo Boss. I don't know why I said Hugo Boss. It's pretty random. Hugo Boss will have a good bull line item on the balance sheet. Like, I don't know, Hugo Boss.
I don't know why I said Hugo Boss.
Pretty random.
Hugo Boss will have a good bull line item on the balance sheet.
That's the value of the brand.
It's intangible because you can't really define it.
But this is kind of what a brand coin is.
People are buying and selling this brand
based on their sentiment and the feelings of it.
It's an intangible thing,
but it's been packaged up into something that's a tradable asset that actually has a price and has feelings of it. It's an intangible thing, but it's been packaged up into something
that's a tradable asset that actually has a price
and has buyers and sellers.
So the way that I view it is like a brand coin
is kind of like that goodwill line item
on your balance sheet,
which is like the intangible value of the brand.
And that I think is an interesting way
to really look at it.
And that's why I think this is potentially
revolutionary, I think. If we do really well at this and we kill it which
have you know high confidence that we will i think people will look at it and be like man that's
you know that's an interesting way to do this and approach this stuff i like that so let me ask you
something because you know we were talking there was news this week and it was actually super sad
to see obviously but like 90cc had to wind down their operations, right?
And there was a company that was trying to crack into like a pretty tough industry,
which is the fashion industry.
They were doing well in Web3, at least at the beginning.
You know, they sold out a lot of times.
I don't know.
And then, you know, they tried to crack in the fashion industry,
and I think G-Money had to wind down because of that.
It just didn't work, right?
And then they ran out of money.
Obviously, it's a way different approach to you because you have the token, you have the equity, equity of the nft community so i don't want to compare or take away from what you've built because it's actually impressive and i've been there since
day one but how do you plan on cracking into that web to like even luca right with the toys it's
i'm sure it's not that easy by the way um so how are you planning to like crack into that web to
you know drinking industry because there's a lot, right?
Yeah, it's not easy at the beginning.
At the beginning, when you are telling people about this idea that you have
with no numbers on the table
and nothing to show for it,
it's very tough.
But once you start putting some numbers up,
it actually becomes much, much easier
than I think people realize
because we did the first shop, right?
And on the first shop,
we sold more sparkling water in two days than Tesco does
across all of its sparkling water brands in the same time period in the whole of the UK.
So these numbers are not small numbers.
We've sold half a million drinks almost in just three days of sales.
So when you have numbers like that, and then you go to the Web2 or traditional guys,
everyone is like, what the fuck is going on?
How are you guys selling so many drinks?
How have we not heard about this?
How are you guys doing it just D2C from your website
without even having distributed,
without having anything on wholesale?
It's a very new thing that I think is very disruptive.
So actually, on that side of things,
it's been really easy to have those conversations
because we can say, hey, look, we are a Web3 brand and we've been building this for three years. This is the size of our community.
This is how cult-like and sticky and strong our community is because every time we do these drinks,
they sell out within a few minutes now. And this is the potential for something to be a lot bigger.
And obviously people have stuff like Prime in their mind from recently and other drinks brands when they first start out and take off.
So this is, I think, a very similar thing,
but the Web3 version of it.
And by the end of this year,
you will see some pretty big moves, I think,
in terms of getting us having a footprint
in the traditional world.
And that's the thing I think we really need for...
Because right now, we have some great people in, but no i feel like no one there's no apart from us and our community like all the
wrecked whales are like people within the wrecked community i feel like there's no there's no big
ct person out there no who owns wrecked or even talks about it maybe even has even looked at it
which i think is a bullish thing because it means there are buyers out there if this thing takes off
there are buyers out there who'll want to buy into it um i think they're starting to like the other day i
mean i sent you a screenshot i'm not going to name them but that had like pretty big
whale hit me up like yo why do you like wrecked so much and then i wrote them and this is why i
like it so maybe that's how it starts but you're right like they don't it's not like let's say
like and i'm not calling out say on sam or or the threat guys of this world and it's not me
i'm just saying like i'm naming easy naming easy topics, like, Gainesies.
Like, aside from your homies, you know?
It's not like a lot of big CT folks just talk about it,
but it's a pretty successful model so far.
Yeah, I agree.
And I think, like, for us, once we start doing the mainstream stuff,
I think that's when things will click and people will suddenly realize.
For Pudgy Penguins, Pudgy Penguins
had their early supporters, they had
everyone who backed and believed Luca at the beginning
but it wasn't until the Walmart
thing that people were like, oh fuck, this is
legit now, it's not just going to be
like a
Web3
circlejack thing, it's actually going mainstream
I think we haven't had that moment
yet, and that's what we're think we haven't had that moment yet
and that's what we're trying
to work towards
is that moment coming?
it will come
that moment will come
I like that
it will come
it's
you're right
it was funny
in this space
we obsess over like
oh being within Web3 and stuff
it's kind of like
reminds me of NFTs 2021
like
we fell into
I fell into it at least
and a lot of people did
whenever a celebrity would PFP
a fucking cool cat or a punk or whatever be like oh my god we made it and then the floor would
pump like crazy and then like you'd realize they don't really care and then and then this time
around it's like different we want to get our products into web to you know like walmart and
you know for you i i don't know what you got planned but you'll probably you talk a lot about
boots let's say so i'll just say boots like boots in the uk or something like this. But that's, that's, it's different. It's
actually much more valuable, uh, if anything, and that's what we want more. So I think that's,
that's when it's funny. It's when people wake up to the product instead of early. Yeah. But
you know, I think, I think on the, you know, an outside person who's not involved in the
Rect ecosystem probably looks at it and thinks, oh, that's kind of cool. But you know, how do we
know they're going to keep doing it? But as soon
as you're in
a household name, then
that's when people, I think, wake up and be like, oh,
shit, this could be big.
Yeah. Everybody buys REC to the price they
deserve.
So I love that.
I think we've gone around the horn pretty
well in markets in REC, but is there anything else you want to
shout out on On rec side?
That's kind of it.
So we have this OpenSea drop coming up
pretty soon. What's that about?
It's just the next ring.
That's the can.
Hey, let's go!
I had my first one this week, actually. It's pretty good.
Yeah, so that's our next drop.
We have that coming up.
It's going to be on OpenSea
that you're going to be able to buy
NFTs on Abstract, and you'll
earn OpenSea XP,
you'll earn Abstract XP, and you'll also
earn Rekt Drang points as well.
So there's like a triple reward
system baked into this one.
And if you want to take part,
we've made an allow list for anyone who purchased drinks in the past
or people who own Rek Guys or if you own like $100 worth of Rek Coin.
But also we're running an allow list raffle as well.
So just head over to the Rek Drinks account
and you can see all the information there.
The raffle, I think, closes in about a day.
So make sure you get involved there.
All right. There you go. Make sure you get involved there. All right.
There you go.
Make sure you get involved over there and check it out as our coins continue to get decimated.
I wonder when that bottom's going to form.
Will be.
Oh, is shit going down again?
But it's just kind of not great.
It's just kind of not great.
All right.
Let me get to this Yeet stuff.
It's just our Yeet Daddy Mando did not top up our account.
So I need to front it.
Shit, I need to send money here to this Yeet account.
I was looking at shit.
Yeah, one second.
It'll take two seconds to deposit.
I got to deposit 500 bucks at least so that we can play.
And then we'll pick a winner.
In the meantime, Ovi, maybe you pick a number between 1 and like 100.
And then I'll...
Oh, I like that.
One second.
USDC to this account for Rokebaud ETH.
One second. Pick 88.
Probably got to count 88 times.
All right, one second.
Okay, I fronted $510.
Okay, I fronted $510 USDC for the record.
Boom. Okay, boom.
Okay, so that's Conor's 88.
So now let me go to the referral
so today since we don't have the raffle bot we're gonna pick someone that's directly using the
fomo hour ref link uh you know because that's only fair in my opinion uh to give back to the people
not use our ref links make sure you go to yeet.com forward slash and then for not forward slash just
fomo hour referred users loading man they're killing it, OVA.
Like, I like how you guys, you went the
Rekt way, you know, you're building your thing,
shout out to tabs, and he's helping you a lot on that front.
And then Mando, you know, KBM
went the Yeet way.
Yeah.
Yeah, it's weird.
And everyone's been
extremely busy as well.
I wake up, I'm just like
working on Rekt stuff rec stuff like the entire time
and then
I probably speak to
Tabs all day, I probably speak to Tabs more than I speak to anyone else
right now
and then yeah
just sleep and then I wake up and it's the same again
30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 1, 2, 3, 4.
The thing is I can't show the back end, sadly, so you guys have to trust me, bro.
45, 46, 47, 38, 39, 50.
1, 2, 3, 4, 5, 6, 7, 8, 9, 60.
Sorry, I counted in French.
I can't show the back end because I don't want to dox how much people are spending.
1, 2, 3, 4, 5, 6, 7, 8, 9, 70. 1, 2, 3, 4, 5, 6, 7, 8, 9, 70.
1, 2, 3, 5, 6, 7, 8, 9, 80.
All right.
81, 82, 83, 84, 85, 86, 87, 88.
And his name is Sebato, Sebato R IQ.
Congratulations.
You've only spent $5 using our ref link,
while the guy just above 87, if you have picked him,
spent $34,000 using our ref link.
God damn it.
So Sabato, Sabato, Sabato RIQ.
If you're here, you can come up.
If you're not here, don't worry.
You still win because this is like a thing we're just running
for the next couple of days.
And we're going to do a Farcoin.
It's Farcoin Friday today.
You wouldn't think that looking at the chart.
I'm not going to lie.
But Sabato, Sabato, Sabato, Sabato.
Oh, Sabato.
Okay, I found.
Oh, you even retweeted the spaces.
Well, he retweeted the space and he retweeted the show.
I found his Twitter account.
Fuck yes. So he's a real one. Oh, he retweeted the space and he retweeted the show. I found his Twitter account. Fuck yes.
So he's a real one.
Oh, he retweets us a lot.
Okay, dude,
you picked the right person actually, Obi.
Shout out to you.
So, Sabat.
Oh, and he's here.
And he's here.
Hold on.
And he's on stage.
That's fucking amazing.
Well, Obi,
good fucking shout here, mate.
Good.
What's up, Sabat?
Dude, congratulations.
Are you familiar with the games here?
Yeah.
All right, we're going to play some Coinbase for you.
So the rule on Friday is that we have to put $250 on Fartcoin,
and then you pick the other $250.
You want to put it on Bitcoin, Ethereum ethereum solana or dogecoin let's do btc all right all right well congrats just so you know
you already won 500 so for sure for sure you leave with 500 today and now we have to wait
for this race to be done um and then as soon as this race is done, well, you're lucky because Farcoin just got shot down right away.
So as soon as this race is done, we're going to play your race.
I'll let you know who won this race and you'll be able to change your choice if you want.
But for now, it's Bitcoin and Farcoin.
Let's wait, Sabat.
And then you'll see.
Oh, good for you.
Bitcoin didn't win that.
So you have even a better chance, in my opinion.
All right. All right, Sabat. So we'll do. Oh, wow. you. Bitcoin didn't win that. So you have even a better chance, in my opinion. All right.
All right, Sabat.
So we'll do.
Oh, wow.
Farcoin is 80x right now, Obi.
Wow.
All right.
I've picked your coins.
Bitcoin and Farcoin.
Dude, 80x on 250 on the show would be nice.
80x on 250 would be nice.
That would be a 20k hit.
Let's go, baby.
Come on. No. Farcoin, yeah, here we go. Here we go. So long shot
Let's go Bitcoin
Let's go
And Bitcoin
Let's go baby
Congratulations
Sabat
Congratulations
You just won a thousand dollars
Fuck yeah
Holy cow
Fuck yeah dude
So you made your 500 bucks
And you won the 520 something
So you made about a thousand something so congrats
about happy friday there you go all right well that's that all right man you're very welcome
you're very welcome obi hope you have a great weekend i'll see you we'll be golfing next week
together i'll see you next week in lisbon yeah hopefully my back's better fuck i've sprained my
back oh yeah i can't i can't even lift five pound dumbbells that was the only thing i was worried Lisbon, yeah. Hopefully my back's better. Fuck. I've sprained my back.
Oof.
Yeah.
I can't even lift five-pound dumbbells.
The only thing I was worried about is golf next week because that's a lot of back, you know?
Yeah.
Hopefully I'm better.
But I should be fine in five days.
So, anyways, Ovi, I'll see you at NFC Lisbon.
Shout out to NFC.
We'll all be there.
A lot of us. So, if you're around, let us know.
With that, we'll see you on Monday morning, 10 a.m.
Eastern Standard Time for the episode of FOMO Hour
on Rug Radio.
Let's
go. How do I outro this?
Hold on.
Thanks, Tabs.
