Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
FOMO HOUR: Macro and Meebits with Sergito
Recorded: May 2, 2025 Duration: 1:00:58Space Recording
Short Summary
In a lively discussion on FOMO Hour, the team analyzed the current bullish trends in the crypto market, with Bitcoin reaching $97K and significant developments in NFTs and partnerships. Key topics included the launch of new projects like Playtron's gaming stablecoin and the Boop.fund, alongside insights into market dynamics and the potential for continued growth in the crypto space.
Full Transcription
Thank you. GM, GM, everyone.
Thank you for joining us here this morning.
We're going to start the show here in just a minute.
We're getting our speakers up on stage.
While we wait, a few shout-outs.
FFE, Marky, Perilist, The Homie, GM, GM, Castro, T,
Antfex, Poria, GM.
Who else we got?
Inoa, Cap, Big Dog, Goku, GM, GM.
See some board apes out there.
Casey, Squilliam, GM.
Thanks for joining us.
Jex, DMACC, Arrow, Bush, GM, GM.
All right, I think we got a lot of folks up here trying to get Sergito up
if he will accept my invitation.
Sims, whenever you're ready, let's kick it. Thank you. Good morning. Good morning, everyone. GM, GM. And welcome to another episode of FOMO Hour.
Today is Friday, May 2nd, 2025. Folks, May is off to a fast start.
Bitcoin at 97K.
Stocks are booming.
Potentially about to hit a 20-year streak.
And the question is, can this keep going?
Or are we in a major bull trap?
We're going to break it down on today's show.
I'm getting a bit of feedback.
So maybe is it your phone?
Turn your phone volume all the way down. Just turn your phone volume all the way down.
I did.
It won't let me.
There we go.
Oh, some speaker won't let me.
I'll just chuck it to the side.
Yeah, just maybe put it to the side.
How's that?
That's better.
Thank you very much.
Folks, we gave it away.
Our special guest.
It's Friday.
We've got Sergito joining us.
Serg, how are you doing?
Good, man. Thank you for having me. Always a pleasure to come on Rug Radio and obviously
personal friends of all the whole team. So just happy to chat with some homies.
Yeah, we're excited to have you on. I think Mando is going to be joining us
in just a couple minutes here, folks. We've got Logan on with us last day in Peru.
Logan, GM,m how you feeling hey
good morning i'm feeling a little bittersweet here final day here in peru leave tomorrow night
so a great trip great time highly recommended for folks who have not yet ventured down here
or maybe east west wherever you need to come from to get here uh but excited to talk about it the show the markets whatever um i'm excited we're gonna miss your yellow background that is i know
this airbnb treated me really well cold showers uh but otherwise treated me really well
what was that i'm sorry are you in lim No, I'm in Trujillo. Okay, nice.
Sergito, where are you talking to us live from this morning?
I'm in New York.
I'm in New York, but I used to go to Peru once a month for four or five years when I started my career in the markets.
I used to cover Peru, so very special place in my heart.
Oh, very nice.
Well, Logie, we're happy that you're coming back, but happy you had a good time as well.
Folks, what are we talking about on today's show? We're going to start with the market report. Looks like we've got some good jobs numbers, China coming to the table on trade talks,
stocks on potentially the biggest rally since 2004, which is a bit confusing,
given everyone doom posting for weeks now.
So we got to talk about that.
We're going to talk about crypto outlook here.
Mr. Sergito's perspective, we got Michael Saylor announcing another $21 billion in equity offerings to buy more Bitcoin.
Tether reported earnings, billion dollars, very good, but down about 75% year over year.
North Carolina is close to passing their own strategic Bitcoin reserve.
Playtron in the Suica system, they're launching a new gaming stablecoin. That was an interesting
one. We've got Visa and MasterCard both working on projects to give AI agents access to credit
cards. That feels kind of big. We're going to break down the Boop.fund launch that was all over
the timeline yesterday. And then the last part of the show, we will talk to Sergita about MeBits,
the NFT comeback, and a lot more. Plus, double Yeet spins today. So you're going to want to stick
around for the end of the show for that. Before we dive in, quick shout out to our partner,
Wallet Connect. Wallet Connect is the connectivity network shaping the future of on-chain UX.
If you've connected to a Web3 app, you've seen Wallet Connect. That blue logo,
it's everywhere. And I kind of trust in crypto as recognizable as Visa at the checkout. If you've connected to a Web3 app, you've seen Wallet Connect. That blue logo, it's everywhere.
And I kind of trust in crypto as recognizable as Visa at the checkout.
If you want to learn more, follow at Wallet Connect on X and Telegram to stay ahead of what's next.
All right, we love our partners as always.
Sims, if you want to give me my intro music, I'll do a bit of a market report.
Cheers. Yeah, it's an interesting one out there this morning here, folks.
I feel that crypto has been kind of quietly grinding up slash somewhat chopping.
It feels like these past few days.
So Bitcoin, 96,900.
Up about a percent.
Up just 2% on the week, though it feels a little bit more than that, I guess.
I guess I don't recall us being at 95K last Friday.
ETH up 3% on the week.
It's basically even on the day.
Solana slightly in red on the day.
A few alt movers, nothing really crazy. EOS,
IMX, Kaya, virtual is kind of leading the charge up six to nine percent. Nothing crazy. I think
from a macro perspective, a few things going on. Bloomberg tweeting here this morning. It looks like the jobs report came in. Payrolls beat expectations decently.
Unemployment stayed the same. We had Trump continuing to call for rate cuts,
saying that inflation is very low and that the Fed needs to act, cut those rates.
Some news out in NVIDIA, they're tweaking some AI chips to be sold to China. It
does seem like China coming to the table. Trade talks have reported. I think China said this last
night that the US had reached out for trade deals. You could position that as the US giving in,
but I think at the end of the day, most people are just happy to see some progress on that front.
Markets do seem to have liked that. So we've got stocks up about a percent
here today, Dow jumping up 400. And then again, on pace for the longest winning streak in 20 years,
which has made more interesting because Trump just came out and said,
when the recession numbers came out or the Q1 GDP came out, that this wasn't his market. It was Biden's market.
So Biden's going to have to get credit for this 20-day rally,
this 20-year rally, I guess.
The 10-year is up today.
Wow, I didn't see this.
So it's back to 4.3.
So it's going the wrong way.
I did see the odds of rate cuts have fallen a bit.
I saw that we had this pulled up just a couple of days ago
on the show. I think the odds of four cuts in 2025 were up to about 41% on the CME board,
back down to 35% here. So just about 50% chance of four to five cuts here. 35% chance of three for the rest of this year.
Back on the crypto board, ETFs were strong again yesterday.
420 million in net inflows.
Ibit has just been leading the charge consistently.
Just massive green numbers every day.
So capital is flowing in through the IBIT, Bitcoin ETF.
Ethereum even cash into bed.
Nice little week.
Those ETFs, nicely green here this week as well.
That's a quick summary.
We'll go into some of the more specific headlines here in a little bit.
But Sergio, I'll toss it to you.
I'm kind of questioning.
I want to just chat, casual Friday Friday, chat macro and market outlook.
I'll maybe preface this by saying I've been trying to absorb a lot of
information. I don't have a background in macro equities trading or
markets trading really. I like to absorb what a lot of smart
people around me are saying. I feel like a lot of smart people for the last
month or at least since Liberation Day had talked about how this would be a disaster for markets. A lot of smart
people saying their base case was recession with chances of stagflation and depression on the table,
which is hard for me to reconcile now that we're seeing this massive rally in stocks. So I'm
curious just from your perspective on what is happening, is this a bull trap?
Should we be more worried?
Like why are stocks outperforming in such uncertain times?
Yeah, I mean, I think it's easy to just forget that the market's not the economy.
Obviously, something for the narrative is like the market's doing well,
the economy must be doing really well.
Markets trade on expectations, as we all know.
And what's happened over the last couple
of weeks is, you know, while there's still some commentary out there from the administration
that are going to stay strong and, you know, F-China and all that stuff, the reality is we've
seen them move closer back to where things were. And so if you were around the markets back in the
first Trump administration, the whole trade deal thing, we already had it happening.
They had a trade deal with China back then.
It was called phase one trade one deal.
It's purely cosmetic.
Same thing with the NAFTA renegotiation that he termed USMCA.
So I think once the market priced in the fact that, OK, yeah, this might be different, like the tariffs are 145% with China, with everybody else, if they had not changed course, we would be much lower.
But the fact that they immediately started changing their tune and coming back more towards the table where putting out those fake headlines that we're talking to China and China's like, no, we're not.
No, we're not.
I think that puts, unfortunately, I mean, we're cheering for the U.S. here.
Don't get me wrong.
But if you look at it from a nonpolitical perspective
and just from a pure macro perspective,
the reality is that the U.S. is against the wall of China.
And so they're either going to have to agree to some sort of deal,
which just removes a lot of the uncertainty.
And that's why we're like so much higher from where we were a month ago.
But also, you know, the Fed is there, right?
The fact that the Fed didn't do anything when we were down 20% over two weeks,
I think is just a good way to save those bullets for when they're necessary.
And you start seeing in crypto Twitter this week,
a lot of talk about like shipping lanes and the ports being empty, how the tariffs just started to hit the
real economy this week. And I think what's going to be important now that we had a rebound with
the change of expectations is, okay, so what happens next? Obviously, first quarter GDP
is backward looking. Today's employment number is
backward looking. And I think a lot of people missed the point that it's just a mathematical
model that usually gets revised as we go through time. If you look at employment numbers for the
last eight years, every single month, there's been a significant revision when you look back.
Now, when the market is very, very quiet, people are just super focused on employment
and thus it becomes kind of like,
it's like the meme coins where like,
oh, Elon tweeted it.
And so the thing moves,
it doesn't change fundamentally anything.
It's just something that people like to gamble around.
And so employment was better than expected.
The expectations are very low.
Sorry, my dogs are being a little bit annoying right now.
But the expectations were low, right?
If you think about your average monthly gain for a healthy job economy,
around 220,000 jobs per month.
So even though we beat expectations, 133,000 is just not that.
I mean, 177 times, it's still not to that level that you would expect from a healthy economy.
Unemployment rate, kind of sticky above four percent which is still pretty good it's not you know recessionary but um we're just at a turning point here i think where like
really have to be looking at what's outperforming what's driving the market a lot of stuff that's
driving the market right now tech companies are companies that you know are defensive in nature especially in a world of tariffs where you know there are
software companies that don't really have that need for capital goods to come in from china
and so you know you have a lot of money invested in the market that has to be parked
somewhere i think sometimes from the crypto perspective we're like you know all in either
in bitcoin or you're in ethereum or you're in solana or you're in ethereum or you're in nfts or you're
in shitcoins but there's uh hundreds of thousands of asset managers out there that need to be like
u.s equities right and they can they need to be like 85 percent invested in u.s equities so what
do you do right so you sell the stuff that might have an impact from, you know, some of the soft data that we're seeing.
And again, look ahead where the economy will slow down, maybe like financials, real estate.
You sell that and then you hide in stuff like Microsoft that just printed a great number that, again, it's not really important things from China that has a AI kind of like tailwind.
things from China that has an AI kind of like tailwind.
And of course, them being such an oversized component of the index, then you get this
kind of stuff where like, oh, stocks are really good.
And I don't think it's a bull trap.
It's just more a consequence of the way like all these indices are put together.
And it can be a mirage.
I think, you know, it's good, but it's just time to be like a little bit more alert as to what's
really happening under the surface yeah I think that makes a lot of sense so I had this like
gut read with no data backing up that I just felt like fund managers like wealth advisors like
they they want to put capital in the markets I feel like no one wants to be in cash.
It's not a sexy thing to do.
It's not what they're being paid to do.
And I feel like every time we got any glimpse of positive news,
everyone, like we were seeing that pump, right? It just felt like to me that that money was pouring in.
So kind of hearing that from you kind of does kind of confirm that idea for me.
So I guess, so what is your,
like what's your outlook over the next couple of quarters?
On one side, I want to be optimistic that, you know,
if things really go south quickly in the economy,
there's going to be some sort of like backstop stimulus
or something like that.
Or again, this is like a self-inflicted one, right?
This whole tariff thing.
Liberation date was a mistake.
And so you can take that away with one tweet.
And that should see the kind of reaction that we've seen so far.
Having said that, right, if you continue to see this kind of just
misunderstanding of reality with like the impact of tariffs,
how they are a tax on the lower and middle income classes.
If you're going to use that as an excuse
to cut taxes on the wealthy,
then definitely I think you're going to see,
potentially, for example,
I was arguing with some friends earlier today
on a group text.
They're like, oh man, the stocks are up first,
whatever 10-day winning streak in like 20 years. I're like, oh, man, the stocks are up, you know, first, like whatever, 10 day winning streak in like 20 years.
I'm like, yeah, we went from six to eight when we could have been a 12.
So for me, it's like we could have been much higher already if they had just put in the pro-growth policies that were promised during the election and not messed around with like trying to reset the global trade order all in one go.
Unfortunately, you know, we're not there yet.
And so I think it's important to just kind of like keep in mind what could
happen if those Chinese tariffs really start hitting, you know,
we're making, we'll talk about Mibis, right?
We're making toys from Mibis.
And like every single day we get emails from like the toy association saying
like, Hey, these tariffs are literally going to take out half the industry.
So what happens then, right? If like, hey, these tariffs are literally going to take out half the industry. So what happens then, right?
If like, you know, we've pulled back a little bit
because like we don't want to spend $500 on a thing
that we can sell for 400 bucks because of tariffs.
So then we're not putting in orders with the toy manufacturers.
And even though they might be in China,
like the shipping companies, probably like FedEx or UPS,
those are American.
The retailers are obviously here.
The employees of the retailers, obviously American.
So that chain does take a little bit of time to play out.
So I think it's just time to be really vigilant
and really understand that markets go up on a staircase,
but down an elevator.
And that's what we see, right?
Like escalator up, elevator down,
where like they chop, chop, chop, chop.
And then just like we saw Liberation Day, boom.
If nothing's really changed
and it was just something like, you know,
like announcements like that,
that you know are so ridiculous
they're probably not taken back,
then great bang opportunities.
But if things are going to change materially,
whether like, you know what, screw this,
or like a bomb goes off somewhere,
then that's a different conversation.
Yeah.
I think what's been interesting to me is a little bit about how the narrative has changed,
right? So like when this first started, there was a bit of this picture that you're going to be in for some near-term pain while we correct some serious issues in the U.S. economy and government
spending and the debt. And it feels like we're kind of walking some of that back.
And of course, it's nice to see the markets go back up.
And I think we have made some progress
on some trade deals on paper.
I think you could argue the opposite side,
that the global relations have perhaps worn more
than the gain we're getting.
That's a longer conversation.
But it does feel like it's changed a little bit.
And I guess where I'm going with this,
I'm curious for your perspective.
I've seen you be critical, and that's great.
How would you rate Trump's first 100 days overall
and then part two specifically for crypto,
and then we'll get into the crypto part of this conversation?
I think overall probably one of the worst first 100 days
that we've had.
I mean, the market's telling you that, right?
Like, we've had the worst start for an administration in decades or history.
I don't even know.
So the market being the largest voting waiting machine is just telling you that.
It's not me being political.
It's just the market telling you that.
For crypto, again, right, we thought it was going to be a super pro-crypto administration.
Like Bitcoin should be at $150K.
We're getting excited about potentially going back to $100K, which we hit over Basel.
I remember I was in Miami with my friends, and when it hit, we were like all super excited.
So the fact that, you know, we're trying to inch back to 100k when we're already there it doesn't feel
like good to me now that's from the market price perspective obviously the regulation changed
obviously you know releasing some of those prisoners that were you know crimes involving
crypto that might not have been crimes is super positive and so from that sense i think from the
regulatory perspective,
really, really good.
Personally, I don't think that's the executive.
That's more the people that have been,
you know, in Congress
and so like pushing from the inside,
obviously, you know,
places like a standard crypto,
really doing a good job at,
you know, flexing their muscles.
I think it's worrisome that,
you know,
it's almost pay to play now with World Liberty Financial.
Like you see an announcement of somebody investing in World Liberty Financial and they either get a pardon
or they get something taken away.
There was just some news yesterday about like,
I think it was Abu Dhabi,
you know, $2 billion investment into like Trump crypto.
And then the next day the u.s is taking um you know restrict restrictions off
from you know chips being sold over there and you're like come on man like because what's
happening is in four years if the democrats come back in like crypto is going to be public enemy
number one again and so that's a concern we we don't have to go that way to be pro crypto
but um yeah i'll just let the market speak for itself.
I think for the economy,
bad. For crypto,
not as good as expected.
Interesting that you're
saying not as good as expected.
Because I gave
my ratings the other day, and
I think I gave them an A
just because of the
regulations.
An asterisk A, putting the meme coin launch aside. I think I gave him an A just because of the regulations. Well, okay.
An asterisk A, putting the meme coin launch aside.
A minus, I will give.
Okay.
So I think that's fair. And I do agree with you that some of his personal moves,
the meme coin with World Liberty Fi,
now potentially with True Social doing its own token,
has muddied it quite a bit.
And I am also, I think one of the biggest risks out there
is a political shift and then crypto becoming enemy number one.
Again, driven because of some of its personal actions
and a view as crypto equals trauma and a crackdown.
I mean, we saw with Tesla, right?
Like Tesla went from being the darling on the left
because of you know environmental concerns and electric vehicles so now people are
doing stupid shit to cars like it's insane but that's the way humans are and so that's
yeah a for the regulation minus for the stuff around it um And again, I think because of the economy, we should be much higher on prices,
both for stocks and crypto.
And so we can blame Biden all we want,
but that's just not the way the world works.
We'll see if Biden gets credit for this 20-day rally
if it closes here today.
Well, now that we pivoted to crypto,
Sergio, I'm curious.
Take a look at the board now.
You kind of outlined your macro thoughts like what what jumping what is jumping out to you like are
you making yeah I saw Amanda just joining us we were on um wreckfish a couple weeks ago and I think
one of the recurring themes whenever I I get tapped into to uh sitting for for Obi when he's
traveling is that bitcoin is completely decoupled from the rest of the crypto market from the flow perspective, right?
We're just talking about the Bitcoin ETFs.
Not only that, but then you have, you know, Saylor sitting there on the bid every so often,
whereas the rest of the crypto market, it more closely resembles what we're seeing
kind of like with tech stocks and some of the more frontier tech things.
What stands out is just, listen, I love ETH.
I think we all do.
Even if people say they don't anymore,
I think we all came through the NFT ecosystem.
It holds a special place in our hearts.
It's great that we have new leadership at the foundation
and they're more focused on UX, Scalendale,
and just the block fee structure.
But it is painful to see it at the same prices where it was
back when we were FOMO-ing into NFTs four years ago.
So I think it's a good opportunity here.
But I've been saying that for a while.
It's been completely wrong.
And so I've stopped saying it publicly not to embarrass myself further.
But the rest of the market, I think, is just going to be challenged.
There's not a lot of demand from new capital that would look beyond your Bitcoin, maybe like your ETH and your Solana, to really support the level of supply that we're seeing across the board.
Like the other day, there was $69 million worth of investments announced into new L1s.
Like, give me a break.
Nobody uses anything.
I mean, even ETH, like hardly anybody uses it anymore.
Like gas, like 0.1.
So the fact that, you know, we all know liquidity for those funds,
for those investments will come from new token launches.
It's just a bit of a, it's a bit tragic because all of that is just going to
take away liquidity from the market itself, right?
It's going to go into the wrong places.
So yeah, for certain investors that get to buy tokens at a fraction of a penny,
wait a year and dump it at five cents, of course,
they're going to keep on doing
that.
But for the average user that's coming in and say, hey, I use this test net or I use
this new chain.
I like it a lot.
It's fast.
It gave me points.
I'm going to buy some more tokens.
And then it goes from five cents back to one cent, right?
We're going to keep on losing potential adopters and users.
So I think it's a very negative flywheel that I hope it stops one day,
but I don't see it stopping.
So what's my outlook?
I think Bitcoin continues to outperform everything.
I think depending on how you calculate BTC dominance,
it will just continue to remain very elevated,
especially as gold, obviously it's come off,
but it's multi historic highs.
So that narrative of Bitcoin being digital gold, I think, plays really well.
And two, just ease of access, right?
Like anybody can buy Bitcoin through the ETFs, you know, a whole new, like you can't really
put Ether or Solana in retirement accounts.
You can't put Bitcoin.
So that opens up a lot of new different portfolios that the asset can go into.
Obviously, we're here and talk about, you know,
other strategic reserves across the world from countries and so on.
And that's all Bitcoin.
So that, you know, with the couple,
I think you'll bring a lot of frustration to people that expect that old
cycle to come one day, you know,
rolling down from Bitcoin into the rest of the stuff.
Unless we get some like massive stimulus package,
I don't see that happening.
We'll see pockets of, you know, excitement.
Like we're saying with Sui, I think they're doing things right.
Obviously Solana, you know, is playing the game really well, you know, setting up a loving effort in DC, hiring the ex-head of the blockchain association to push for that, pushing hard into New York with their new office.
into New York with their new office.
So like those kinds of plays, yes.
So those kinds of places, yes.
But the overall market, I think, unless we get stimulus,
it's just going to be a continuous meltdown.
And very similar to what we saw with NFTs, 21.
Everything was pumping, and then only three things were pumping.
And then at the very end, it was like apes, other side,
an ape chain, and then everything just melted.
And that's my expectation for like the overall crypto spot market.
Interesting.
Isn't that a little gloomy, but I think fair.
Just buy Bitcoin, Ether, and Solana and call it a day.
Yeah.
If you want to gamble, there's a lot of fun stuff to gamble on,
but they're not investments.
Fair.
Very fair. I think that's the difference, right?
I'm thinking long-term is investment, change the world kind of thing.
It will be the top three or four networks.
If you want to have fun, play a meme, that's different, right?
That's like if you want to be a better quarterback
and you're a high school senior, you're watching a lot of tape.
You're not watching ESPN for the line on the games this weekend.
I think that's the difference, right?
You either want to be a good investor, long-term technologist,
or you want to be a good short-term trader, play the narratives,
understand like meme cycles and all that stuff.
And those are two very, very different fields.
Same thing happens in traditional finance. You have the Warren Buffetts of the world,
right? Like there's a very stupid headline going around like, oh, Warren Buffett owns 5% of all
treasuries. And it's idiotic. Like if you do not know Warren Buffett's business model, of course,
you're like, oh my God. You think it's like that owns the treasuries? No, he owns one of the largest insurance groups in the world,
and they have to stash the cash somewhere, and they own treasuries, period.
Like that's where you – it's a risk-free rate.
But his business over the last 50 years have been building like undervalued companies
with those insurance funds and just leveraging that over and over again, right,
versus somebody like the guys that run, you know,
Brevin Howard and Millennium and all those hedge funds
that are really more looking for, you know, a different kind of play
that you leverage, derivatives, and so on.
And there's room for everybody, my point.
And so market-wise, buy the big guys.
If you're thinking long-term, you want to sleep at night.
You have a nine-to-five.
You don't want to be worried about sitting on pump fund.
Or boot fund, which we'll get to here in a minute.
Or the new one, yeah.
Great advice.
The benefit to the listeners of this show is on a daily basis,
they get Mando's macro outlook.
Yeah.
And then they get to go venture down the risk curve with me
and all the left curve
did you make a coin yesterday Tyler?
not yet but it's on my to-do list
for today I do think I am going to launch one
yeah why not
I think the upside
is just too strong
it'll come with all the disclaimers
I'm not going to run it like a project
don't expect me to run this like Mando Reign Epic.
It's going to be a collectible
NFA.
It's so fucking hilarious.
I actually have
tried to do this
for the last year. Now everyone's just launched one
and just rugged it.
Literally
insta-rugged from the top 300
KOLs in the space.
Yeah. Ridiculous.
Are you going to do another one?
To get your...
I'm done. I'm done.
Yeah. Very fair.
Well, we'll see.
I haven't clicked the launch button just yet,
but I'm in that 400,000 token tier.
And of course, I don't expect that Boop token to be quite as high in 20 to 30 days as it is now, but it's a decent little airdrop. So enough to consider
the decision here. It's traded 350 million still0.35. I'll be honest.
When it was straight down yesterday and the sentiment all over the timeline
was very negative, I thought it was already over.
But it seems like they flipped the script overnight.
I think they got the platform back working and then ding-a-ling,
rolled in with 1,000 sold and said, I'm going to buy some of these tokens.
That was enough to help shift things.
And then their incentives are good.
This does not mean that good meme coins
are going to come out of this ecosystem,
but the incentives are there.
So every day, one million tokens are given out
to creators and holders of tokens that graduate.
That's $350,000.
It feels like it's rare all over again.
It's like cool tokenomics that will fizz out
in two or three months, right?
Yeah, which is a long time.
Which is a long time.
Free money is free money, though.
You can get it.
Of course.
So I think they are going to have some success
well I'm curious for your thoughts on the launch
we've been talking about this a little bit
incentivizing
KOLs to launch coins
that they don't want
an action that they don't want to take
and they're just going to say
do not buy
in the tagline of the coin
or even name it
do not buy
what's the point of that I don't know in the tagline of the coin or even name it, do not buy.
What's the point of that?
I don't know.
I've grappled with it.
Initially upon launch, I went back and forth just a little bit. But ultimately, I welcome the potential innovation,
and I definitely champion people trying to do new things.
I'm all for that.
And I think it's great that they incentivize people
to take the actions that they want them to take, right?
They wanted people to launch tokens.
They want people to buy tokens.
So they're incentivizing them to do so.
That makes a lot of sense to me.
What makes less sense to me is just the fact
that the people themselves don't want to do so.
And it became so loud on the timeline
that nobody wanted to do so. And it became so loud on the timeline that nobody wanted to do so.
And you created like this instant negative sentiment, as you Matt, as you mentioned,
that permeated my timeline, I would imagine almost everybody's timeline, I did not see
many positive takes yesterday. Of course, getting the platform up and running is a great first start
to combat that. But I actually haven't been on too much
this morning just yet.
Have you noticed a
sentiment shift this morning, Tyler?
Or not? I think so.
Again, the platform started working.
I think more people launched tokens.
They're starting to have some winners.
This Bupa token is now the top performer.
It's at 7.5 million
market cap.
I think that's higher than any of Radium's launch lab tokens went.
So they've already outperformed Radium's launch lab.
Yeah.
Well,
money talks.
So yeah,
people are making money.
This,
I would imagine sentiment shifts just a little bit.
And people are feeling a little bit better about things,
but I think I'm with Mando at this point.
I mean, the sustainability, I just, I don't know.
I would like to see something work. Of course,
I'm not rooting against spooked up fun.
I'm just leery of and wary of, you know,
something like this having happened many times in the past
and not having succeeded.
Yeah, I think being wary is the correct emotion slash reaction.
We'll see.
I think they'll continue to gain traction through this weekend.
One item of note, with all the focus on Boop yesterday,
and perhaps that was their goal.
Perhaps getting the KOLs to do all this was just a massive attention event.
And they got it.
They nailed the attention of it.
I think that's undeniable.
I think some of the hotter new coins of the day were still launched on
PongFong.
So I think there's still going to be a little bit of this is forced for
farming slash airdrops versus like more true organic
means are going to be perhaps elsewhere so we will see um man i know you joined us late what
we're going to get to a conversation with with uh sergito about me bits and nfts here in a few
minutes but i'm curious any big macro topics that jumped out to you from the day we had the sailor
news um anything yeah the big one.
The fact that he said it's going to be debt as well.
So is it debt or is it not?
Because that's what's confusing to me.
Have you had a chance to dig in?
I just read what he wrote,
which was $42 billion of equity,
$42 billion of fixed income, right?
So what he wrote in a tweet... I would have assumed...
I mean, Sailor is from a financial background.
Like, I would assume he means $82 billion.
Those are not the two
same things. Even if you were
to say it like that for converts, it wouldn't make
sense.
So, I don't know.
But if it's fixed income,
that's debt.
That would worry me.
Because that's where...
In October,
they said they planned to raise $42,000,
and he's saying he's doubling it.
So he is saying.
So, again,
if your friend said, I'm going to raise
$42 billion of debt
to buy Bitcoin,
would you tell him that's
a good idea or not?
He still has,
I was just writing this up the other day,
he still has like 20 billion worth of the strike or STRK stuff
in allowance and issuance as well.
So there's ammo there.
Right, but like there's ammo.
He fired a shelf.
It's like if I fired a shelf i want to raise
20 21 billion dollars he just said that like we may do this so it's not ammo unless the market
actually wants to buy that security from him right right um so yeah he has some he has some
on the shelf that he's uh filed for but uh who knows like um And I continue to think that if he wants
to raise $82 billion
to buy Bitcoin,
I think he's going to need to raise debt.
I don't think equity holder
is going to give him $82 billion to buy Bitcoin.
And that's where
this gets riskier.
Yeah.
I continue to think that
adds an element of liquidation risk um to what
he's going to do like if i was a micro strategy equity holder i would just tell him to stop i've
said this so many times he's got enough the benefit for you of him continuing to do this
i think is very limited it's very marginal at this stage and i think he just wants to buy as
much bitcoin as he can it's like it's like one man's think he just wants to buy as much Bitcoin as he can. It's like,
it's like one man's maniacal dream to own as much Bitcoin.
And if you want to buy $82 billion of Bitcoin,
you know,
there's a chance that like at some stage,
if Bitcoin was to drop 50%,
and he has fixed income securities with maturities around them or,
or covenant or whatever
that this could get nasty.
I mean, Sajito will know this
very, very well. I believe he's
a B-rated credit already.
Micro-strategy, I think maybe B-plus
or B-minus, but if he was
to raise $42 billion
of debt,
this is going to be like triple c all over it and triple
c would be a high you know debt markets would assume that there's a good chance that he would
get liquidated like probably like a 14 16 right this is what i mean it's like yeah uh this could
get nasty if he wants to try and do that so i I like, I like Saylor. I think he's played a blinder.
I think he should stop.
Yeah.
Yeah.
I think that's very,
very fair.
And I'll continue just to point in on this.
Like when you read the article that he shares in the tweet,
he says for 42 million in fixed income.
So debt,
you're spot on,
but for whatever reason in their,
their report,
there is no mention of that.
And then like in their summary, they only point to the equity offering,
which is the safer piece of this.
So maybe it's something he's going to keep up his sleeve.
I think our best hope is that he's going to keep it up his sleeve
as a potential option, but he doesn't execute it, I guess,
and just continues to go the equity offering route.
If he buys with equity, I don't care.
Keep doing it.
He's just an ETF.
And yeah, it trades with a premium.
If I was an equity holder,
because it's trades at a premium right now,
I might not be that happy about it
because you're going to keep on diluting that premium.
But if he buys it with debt,
I think everyone should worry.
Yeah.
Very fair.
Well, folks, we're going to get to our conversation with Sergito.
The code for today for those Yeet spins is Boop.
Raffle Block code is Boop.
So we'll get to those probably here in about 10, 15 minutes.
Well, Sergito, one of the reasons we wanted to come here on,
the macro conversation was fantastic.
So thanks for jumping in on that.
I feel like there's been some big news in the Meebitt streets.
Before we get into the breaking news, though,
this is our first chance that we've had to really talk, at least on air,
since the takeover, since the acquisition of Meebitt.
Oh, man, 78 days ago on Valentine's Day.
Wow. We're going to be grading your first 100 days here soon.
Oh, God, I hope they're a little bit better than what we've seen somewhere else.
I'm sure you've said this a handful of times.
Some of our listeners haven't heard it.
Why do you want to take over Meavits?
Two reasons.
First of all, I ask everybody who's followed me and mocked me for liking Meavits over every other collection.
And you're probably right investment-wise over the last four years.
You were definitely right market-wise.
I love the Mibits.
I think they are an incredible just body of artwork
from the premier artists, you know, the legendary Larva Labs
who kind of created this whole category, not once,
just with Punks, inspiring the ERC-721
standard. Obviously
almost every PFP
collection is a derivative of punk traits.
But they did it again with
Autoglyphs a few years later, which
spawned the tokenized
generative art movement. Obviously
Snow for a big early punk
claimer always credits
Larva Labs with inspiration for art blocks
and everything that's come after that.
So I think they did it again in 21 with MiBits.
These are digital sculptures.
Unlike every other collection from that year,
they were just layers on like a Python script.
The MiBits are created from voxels
where the algorithm really had to work
to put all the traits together.
And they include a lot of that technology and concepts that develop for punks and glyphs into this.
For example, there on screen, you have a couple of Miivets wearing camo print pants.
Now, they use a generative algorithm to create the camo print
so that no two Miivets are wearing the exact same print when they're wearing camo.
So every single camo, you know, trait is unique.
You have stuff like, you know, the hoodie ups that you have there on screen,
which was traded this morning.
I think it was that one.
Obviously, a nod to hoodie punks.
And it's just, you know, 20,000 little characters running around the metaverse.
Their bet was that we will live in a digital future,
much more immersive, you know, spaces online.
Obviously that has not really materialized.
I do think we're going to get there.
And so, you know, this are,
you look at Lavalab's body of work,
it's punks as kind of like their paintings,
glyphs as their computer art,
and then Mivitz as their digital sculptures.
And punks are in museums.
Obviously, the, you know, the Pompey Dew, the ICA, the Toledo Museum just announced a new exposition coming up here in the next month or two with punks.
Glyphs are at the Whitney.
Glissar and other museums as well.
Glyphs are in other museums as well.
And then I would expect that given that legacy
and just to show the completeness of the body of work
of Larvalops themselves,
maybe it's belonging to that conversation.
So one, I think they're incredibly cute.
They're good looking.
I love the human body.
Just, you know, we're by nature very much
in love with humanity.
You look at art history throughout,
you know, our whole existence,
you know, the majority of the subjects of a piece of art are human bodies, human faces,
and so on, right? From cavemen all the way to where we are today with like AI bots and the like.
So that was kind of like the why I love Beavis. The reason why I decided to go ahead with the
transaction of putting, you know, the company It's just, I think NFT projects communities are incredible distribution networks.
They're next generation distribution networks.
We saw it with apes and penguins and so many of the others where you have this global fan
base of people that are tech forward that are really looking to just kind of integrate
this new technology into their lifestyle.
I mean, we're all here on screen because of NFTs, pretty much.
I mean, Logan, I don't know your background, but I'm assuming it's around right there.
Obviously, Mando and I were both sitting on trading desks at Barclays,
and we're now here because of NFTs.
And Tyler, you're also here because of NFTs.
And so I think that there's an incredible opportunity to really take this, you know, properties and bootstrap them to create incredible distribution companies.
And I'm not talking about selling hoodies and hats and so on, but really being able to innovate with like new types of financial products and so on.
And so for me, it was the perfect marriage between a community, a project that I adore, that I think has really high intrinsic value because of the artists and the provenance, but also, you know, 20,000 tokens out there with an engaged fan base.
We have 6,400 wallets that hold them.
Some of the largest names in the space have a ton of Meebids.
Snowfro being the largest Meebid collector that has one of every single type.
Meebids, only one, only collection in the world.
So a lot of people don't know that, but it's there.
And I think people that understand Larva kind of have that same mentality of just put the Mibits away and one day we'll get there.
And so it was that combo.
And then the opportunity came about too, right?
Like there's a lot of things that we want to do, but sometimes it's not possible.
But the opportunity came about in December.
And so I jumped on it.
Well, we're happy that you jumped on it.
And people may not know this.
I have a long story history with Mimus myself.
I had quite the collection back in 2021.
I had nice hoodies, suits, pig, no elephants or aliens.
The collection has dwindled since then,
but I'll be making my true return.
Don't worry.
Next question, Sergito.
So you bought or you acquired the project.
What's the first 90-day plan?
What are you focused on out of the gate?
Yeah, so we published our four-pillar plan,
a very innovative name.
It's just four things that the company,
it's four of us in the company.
It's myself, it's Bailey, who's our creative director,
Token Juggler, who's our head of tech,
and then Bojangles Guy, who's our head of community.
All very much entrenched community members since day one.
And we've just been obsessed with Meavitz.
So we're just doing right now what, you know,
we hoped Meavitz would have done in the past.
And no shame to you.
That was one of our partners on the cap table of the company.
I think they had very ambitious plans for a lot of the things they wanted to do in 22.
And the market turned on them.
And so obviously, you're a company.
You have to survive.
The bandwidth and resourcing had to be focused on their main properties, which is BoredApe
on the other side and supporting the Ape chain.
But for us, it's just stuff like, like I said, four pillars.
First is art and provenance, really bringing to the surface that incredible background
that Mebiz have.
You know, we're doing a birthday celebration with Fellowship and Nopr.
It's the fourth anniversary of Mebiz tomorrow, so be on the lookout for that.
We're going to
continue to just push on you know supporting artists with collection again incredible
distribution network how do we use that to help emerging artists reach new collectors
the second thing is fun utility looking at what projects did really well maybe not so well over
the last four years taking the best of that and using it to make holding a Mibit just a fun experience.
Maybe you're in it for the art, but you also want to have fun.
You want to have online activations.
You want to have physical activations.
You want to have cool merch.
So we did an integration with Player Zero, which will launch on May 5th.
That's Monday, where all 20,000 Mibits will be integrated to all the Player Zero games.
So for the first time ever, that kind of like dream that we all had in 21
of buying an NFT and being able to use it in a game,
that's happening with MiBits and Player Zero on Monday.
So you connect your wallet and you have your MiBit available to be played.
They have like four or five games right now,
and there's a lot more games coming down the pipeline.
So it's really, really cool that we're able to deliver that
as part of our fun utility pillar here within the first 100 days. The next one is tech innovation.
Obviously, you know, crypto, NFTs, blockchain, it's all frontier tech. We're the bleeding edge
of it and we want to continue pushing. It's also a nod to the provenance of Labor Labs,
obviously Matt and John, even before NFTs, right, they were like Google and Android developers are always pushing the envelope of what could be done with technology.
And so we want MiBits to be a conduit for that.
So we announced a really cool partnership with ThinkAgents.
They're going to be using MiBits as like the body of your AI agent.
We provided 10 MiBits that can be used, the models, the other hours, that can be used for people to talk to their agent.
And if you have a Mibit, connect your wallet and then you can interact directly with it, which I think is really, really cool.
And we have a couple of other things coming on the AI front.
Then lastly, the last pillar is community first.
As I mentioned before, the four of us, big members of the community, we want to be there.
We want to help build together, win together, supporting people that want
to build around MeBits, whether that's artists, whether that's like creators.
We have Wendell, who's a punk as well, created this incredible app called Meep Camp.
So it's Meep.camp.
It's a progressive web app.
You can just access it on your phone and you can make GIFs with your MeBit.
You can make videos with your MeBit.
My nieces, they have a MeBit each.
They love playing with it. They always want to get the ipad and play with their mebit and so stuff like that just really you know building for the community that's what we're here for well i like
the sounds of the plan and you clearly have been busy and fast to work so i've loved seeing all
these updates start to come out uh maybe just a minute or two left here.
I know we got to get to our yeet spins before we wrap things up,
but how are you feeling about the broader NFT market?
It's seen some signs of life, but then there's, there's also been like,
has it been token driven? So kind of,
how are you feeling about the broader market here?
the broader market here?
I'm feeling good.
I'm feeling good. I think obviously we had, you know, big art sales recently.
I think obviously we had, you know,
big art sales recently.
I think people try to pretend
that technology is going to strip away human nature
when reality, what technology does,
it actually enhances human nature, right?
So greed, fear, power loss,
all of that is enhanced by technology.
So technology is a great democratizer,
but doesn't change away who we are.
And so, yeah, we'll continue to see top parties continue to have
top sales, top projects
continue to evolve and then
some of the tails just really start to
dwindle but I think it's a good time to build
for NFTs especially with this new
renewed interest from the Ethereum Foundation
to make the chain
more UX friendly, more consumer friendly.
You know, it's no secret, as much as I love a couple of the NFT communities that I am part of in Solana,
you know, they never really hit the prominence that NFT communities on ETH hit,
even while Solana was, you know, much higher last year.
And I'm a proud mad lad. I have three of them. I love them. I love that community.
But they never were able to, to like step outside that little bubble.
Whereas Eve projects and Eve artists have.
So I think again,
cyclical,
you know,
it's frontier tech,
but as,
as long as people continue to innovate and we have founders and leaders and
collectors and community members who want to push them to look forward,
I think we'll be fine.
And it just,
you know,
as long as people don't like also get over their skis right don't spend like
half a million dollars on a jpeg just because you think you can sell for 750 000 in a month
we'll be fine be more like mando buy them for 400 and sell them for 400 million dollars three years
later that's a better uh that's a better return right there. Final question. I'd love to talk about the Bitcoin punk spread on this show.
Bitcoin punk spread.
If you have to pick one right now,
which is going to outperform for the rest of this year?
I think for the rest of the year,
you're going to see punks outperform.
Yeah.
Yeah.
At the end of the day,
we just talked about how arts just started to heat up.
Obviously punks have been on a heater recently in ether terms,
but not really in dollar terms because of E performance.
I think the long-term base price for Punks is like $70,000,
and we're just right about there.
So I would expect Punks to triple from here to your end.
There's only 10,000 of them, and all you need is somebody to come in,
like we have been in 21, and want to deploy a couple couple million dollars which is nothing in the greater scheme of things um and the thesis of you
know people make money encrypt them by a punk continues to play out you know i handled the
the admin for the punk community on telegram uh i mean you bought a punk after having an incredible
run uh with coins over the last you know year And so those punks are being put away and they're not going back to market.
So yeah, there's a lot more complexity to punks than there is to Bitcoin.
And I like them both, but I think punks out the phone.
Oh, I like that.
As someone who's been trying to tout the punk side of that ratio for a while.
We're down about 20%, but still a lot of time on the clock.
Real quickly, look at this board this is the the thinnest of 50 i think i've ever i mean that's been yeah i haven't been looking the market too much lately to be honest because i've just been really
busy with events but it was just to be i wake up every day and check the i know farak and i when
we were like you know started talking about punks back in the day every single day i'll be checking
the the market and It's mostly a discovery
of this is a really cool trade or
a cool combination rather than the price.
It doesn't take
long. They're great collateral.
I borrow against some of my Pong, use that to buy
Bitcoin.
The double
bet there.
It's a great community as you've seen.
Appreciate your insights on nfts me bits and macro of course i guess just uh anything you want to leave our listeners with
before we go to the eat spins anything they need to be looking out for yeah no i mean obviously
we'll love to have people come and just look at what we're doing with me bits if it resonates
you know send me a dm happy to chat through the plans i think we have not had a lot of the catalysts that other projects have had
so i think even from that perspective even though i'm not advocating for a financial investment i
do think that you know there's a lot to like when it comes to mebids and now there's a fully
dedicated team we have one confirmation uh you know there are investors you know helping us
push the space forward so i'm really excited for it.
So we'll welcome everybody just to take a look.
They're not the Meevits from 21 anymore. This is a, you know,
Meevits 2.0.
Meevits 2.0 is a great way to end it. Well, Sergio, it was great to catch up.
Thank you for having me.
Feel free to stick around. Feel free to drop.
Sims, if you're ready, let's, we've got double yeet spins, folks.
Double actions since we didn't give away any yesterday.
So a couple lucky listeners are going to walk away with some cash here today.
So whenever you're ready, let's spin it up.
Oh, if we still have the background, we'll get it back soon, folks.
Who do we got?
First winner, Deepwater ENG.
Rocking the pudgy with the egg on top.
Deep Water, you won.
You are our first winner here today.
So go ahead and request.
Come on up on stage, and we'll get you going.
Here is our second winner.
And it is Cowlin Sam.
Cowlin Sam.
Cow, C-A-O-L-I-N-S-A-N. You have won. You are winner number two, Cal Linsan. So we've got Deepwater and Cal. Come on up. Hit that request button. The clock is ticking,
folks, or else we will do re-spins. All right. It looks like we have Deepwater up here.
So they're up on stage now just waiting on Cal.
While we wait, Deepwater looks like, oh, we got them both.
Go ahead and get Cal up here.
Deepwater, you're our first winner.
GM, how are you feeling?
GM, what's going on, guys?
Glad to have you up here.
And Cal, you're our second winner.
If you're with us, GM, you won too.
GM, Tyler. Awesome. All right, we got them both up here. Deep, Cal, you're our second winner. If you're with us, GM, you won too. GM Tyler.
Awesome.
All right, we got them both up here.
Deepwater, you're going to go first.
Sims, do we have the game?
What do we want to do, boys?
Amino, you're on mute.
I said let's do coin race.
It's fun.
Ooh, all right.
Coin race.
Let's go. So how do we want to do this? Do you want to choose two fun. Ooh, all right. Coin race. Let's go.
So how do we want to do this?
Do you want to choose two coins?
Let me split it.
$250 each.
So Deepar's first.
He'll bank $500, so we'll have him pick two coins.
All right, so Deepar, you can pick two coins.
You can pick Bitcoin, ETH, Solana.
Are you?
Rick.
So you'll be in the next race
Dogecoin and Farcoin are the fifth ones
then if your coin
wins you'll get the prize
give me Bitcoin
all right
those are some
sharp picks
so what won this race
Bitcoin won this one.
So you're in for the next one here.
So $250 on Bitcoin, $250 on Solana.
Alright, here we go.
That's some tight turnaround time.
Alright, what do we got? All right. Here we go. That's some tight turnaround time. Three, two, one, go.
All right.
What do we got?
Oh, there's ETH.
Oh, man, ETH.
Oh, Bitcoin wins. oh bitcoin wins nice nice job deepwater so you need it already 500 so walking away we have to have it we need to choose quickly don't we on the next one as well yeah so cal said what
are you going to choose dude i have no no clue what we're playing so let's
do the same as as morocco let's do okay all right we have to wait like 20 seconds we'll get in on
the next one are you are you watching the stream cow no i'm not okay i've only played mega roulette
on jit so i have no clue what to Okay, so basically we're watching the one second
charts of five different
crypto tokens. Bitcoin, ETH,
Sol, Dogecoin, and
Fartcoin with different leverage.
Okay, so Bitcoin and
Sol. Place your
bets. So you're going to bank 500, you're going to
250 each on Bitcoin and Solon.
There we go.
As soon as he's go good in it now.
That's definitely the way to do it.
All right, we're off.
Three, two, one, go!
Run!
Hey!
All right, there's only three horses left.
Oh! Oh! Oh! Oh! There's only three horses left. Ghost coin wins.
Ghost coin won, but don't worry.
Cal, you're still walking away at $500.
Place your bets.
That was fun.
That was a good one
we'll connect with you guys
we'll connect with you after the show
to sort all this out
well folks that's going to be it
wrapping up our week of FOMO hour
Farouk is back next week folks
if you didn't see
he interviewed CZ
so we're going to debrief
with his interview
that is a top interview so happy to debrief with his interview from Ciney, that is a top interview
so happy to catch up with Farouk
next week, wish Logie
some safe travels home from
Peru, Sergito thank you so much
for joining us, great conversation, thank all my
co's, thank our listeners, thank our partners
folks, we'll be back on Monday at 10am
Eastern, until then, go make it a great day
goodbye Monday at 10 a.m. Eastern. Until then, go make it a great day. Goodbye. Oh, yeah.
