we're due for a big win on the Tyler we are like we haven't had like anything like like wow Bing, bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty bitty I feel like the latest lamb chops have been slaughtered. Lamb chops have been rough.
We haven't hit Farccoin forever.
Risky click, if anything, has been low-key paying a bit.
But we got to step our game up here.
JYV? What up, Top Fumbler? Mark? What up, Minelka? What's up? What's up, y'all? What's up, Steve? What's up, Dobbins? What up, Blamia? What up, JP? JYV?
All right, Charlie, let's kick it. Thank you. um
yo yo yo yo yo what up what up good morning good morning gmg
thursday thursday thursday thursday, September 4th, 2025.
Another beautiful day to have a beautiful day.
I got my co-host in the house.
Good morning, good morning.
I might even go as far as saying fantastic.
I'm very proud to announce I've broken my cold streak.
I basically didn't make a profitable trade all summer in the meme coin trenches.
three nice little four to five nexies yesterday.
All you needed is your kids to stop fucking around.
The second my kids are in full day of school,
I instantly returned to being profitable.
There's direct correlation.
Like it literally took one day, one day of your kids
going back to school for you to hit three trades in a row after a cold streak that lasted all summer,
a summer where kids were home. And you were telling us, you were pretty much with them the
whole time. So wow. Look at that direct correlation. Lesson in here is don't have kids.
No, I'm just kidding guys. I play, I play, I play. The lesson in here is don't have kids. No, I'm just kidding, guys.
The lesson in there is don't trade
when your kids are around
Don't trade in the summer
and take breaks during vacations.
When they have spring break,
don't trade because your kids are around.
Christmas break, don't trade.
I'm really curious how that's going to work out for Mando once his kids are older.
Anyways, today on the show, today, today, today, today.
Our quant is gone to a wedding.
Quant's not going to be here.
Let's go through just topics.
Chit-chat about some topics.
See what's going on in the industry.
And let you guys know and have some chat.
And then we have the Pokemon guys.
Crypt cards, crypt cards.
You know, Pokemon is the talk of town. We knew Mando's not here. We figured, why not bring someone on the show, we figured why not Pokemon is the talk of town
We knew Mandela's not here, we figured why not bring
Someone on the show that can
Talk to us with all this crazy Pokemon
About what's going on there, yeet giveaway
Like we were saying at the beginning of the show
We're on a cold streak y'all
We're on a cold streak man
I have to say, even daddy yesterday Gave us an extra $250 for the winner We're seeing the beginning of the show. We're on a cold streak, y'all. We're on a cold streak, man.
I have to say, even Daddy yesterday gave us an extra $250 for the winner,
and that still didn't work out.
So we're going to try and change that.
You had some good trades.
Let's turn the luck around for our listeners as well, okay?
Let's turn the luck around for our listeners and see if they hit. and then last but not least this show is powered by wallet connect wallet connect is a connectivity network
shaping the future of on-chain ux if you've connected what three app you've seen wallet
connect that blue logo it's everywhere and i couldn't trust in crypto is recognizable as visa
at checkout want a little more follow wallet connect on X and Telegram to stay ahead of what's next, but also Kraken Pro.
With Kraken Pro, you get full control over your layout, drag and drop any module, customize it all.
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Trade without trade-offs. Kraken, who's just acquired?
I don't know if you saw that.
I'm friends with TraderMain and also obviously CryptoCred,
who we've been following for a long time.
I thought it was pretty cool news.
Just came out before the show.
I can't wait for our little Zoomer fight headline.
I don't know. I would love to get it.
You know what I mean? Like, I've never been on the other side of that.
Actually once, never mind,
when we announced a Trump interview.
It was saying like, oh, Trump took your own
rug radio. No, no, no. Like, oh, DB.
But, you know, congrats to the boys.
That's always some good news. You love to see someone like that. So shout out to Kraken. You know, making the right moves. Clearly boys that's always some good news shout out to Kraken
Tyler let's go right into your topics today
yeah folks unfortunately crypto majors are dipping quite rapidly here this morning.
We've got Bitcoin down 1.5%, excuse me, 110,000.
We've got ETH down 2%, 43.50, SLON down 3% at 206.
Not too surprising, we have been grinding up all week.
It's still a bit of red on the board.
I think in macro news, there was some jobs data that came out this morning.
It was a bit below expectations, so I think you would call it negative jobs data.
But nothing too earth-shattering.
And, in fact, that should be good for the odds of rate cuts increasing,
which I think are now closing in on 100% for September.
So it looks like we are going to get that rate cut.
In other news, Bitcoin ETFs, another big day, $300 million in net inflows yesterday,
now $1.07 billion in net inflows over the last seven sessions. So those have flipped the script.
Meanwhile, ETFs are bleeding out. So net outflows the last few days. The CFTC, huge news here.
They have officially approved Polymarket to operate in the U.S. So those barriers are dropping by the day.
We have the Federal Reserve leaning in even more.
They're announcing they are going to host a payments innovation conference on October 21st.
It's going to examine stablecoins, tokenizing assets, AI, and DeFi,
and how they can make payments more efficient and more useful for folks.
Coinbase CEO Brian Armstrong says he wants half of Coinbase's code to be AI written by October,
which got some mixed feedback on the timeline.
The ETH validator entry queue.
So everyone's been talking about the exit queue at all-time highs.
The ETH validator entry queue has also risen to massive new all-time highs.
860,000 ETH waiting to be staked.
And then breaking news this morning, Kraken acquires breakout proprietary trading platform built by TraderMain and CryptoCred.
So that was big news out of our partner Kraken.
And shout out to TraderMain and CryptoCred on that acquisition.
In Treasury news, a few announcements here.
So the Trump family, American Bitcoin, it opened yesterday, it soared,
then it plunged, it ended up closing the day
I have not checked on it this morning.
Portage Biotech has rebranded as Alpha Ton Capital
and announced plans to start a $100 million ton Treasury Co.
But these companies need perhaps to be
a little bit more worried or more buttoned
up this morning when they saw that the nasdaq is going to add scrutiny to these digital asset
treasury companies um so perhaps the the wild west of debt of the debt boom might be coming to an end
in token protocol is pump fund flipped hyperliquid in daily revenue, $2.5 million to $2.45
We had Lido debuts, simplified
Lido, Earn Vaults for easier
DeFi strategies, and then Etherealized
from Electric Capital and Paradox to bring
Wrapping this up, meme coins were read on the day.
The biggest news was that troll,
and the troll-faced creator granted exclusive IP rights
to the Salama meme coin troll team in what was a six-figure deal.
Troll basically ran to $200 million on the news.
I saw that $190 this morning.
So more credibility for that meme now.
Look, right, 81X to 12 million.
Oh, and NFTs, there's a few pieces of NFT news.
A new wallet swept 10 CryptoPunks
for $2.1 million yesterday.
Notably, the wallet was funded
from Coinbase Prime, which means it could
be an institutional wallet.
Perhaps a punk's debt is starting to sweep punks.
The rumor mill is circling on that one.
Next of all, taken over by the comic artist.
Yeah, officially taken over.
Beanie's not going to run your project yet, but
he's doing well on his own, right? He's got the
for himself. So Beanie seems to
Let's just go quickly to Troll,
because that's one of ours that broke the news.
I have no Troll, but we have covered it a few times on the show.
I have to say, we must be one of the only streams really covering this one at this stage.
I mean, Trollface meme creator grants exclusive IP rights.
So Solana token and six-figure deal.
You know me, I'm a big meme guy.
There was always issues with My Fury.
Remember the chill guy thing?
There was big issues with the artist. I see this, I see the Pepe thing. You know, there was always like issues with my fury. Remember the chill guy thing? There was big issues with the artist.
Like this is an awesome story I find.
It's like refreshing, you know, to see like an OG meme kind of like,
not accept their faith, but like kind of like, you know, be cool.
I think it's a huge deal.
And it is huge from a trading perspective for the upside
of this troll meme. I think this meme was always,
it always had a lot of potential.
credibility. I think having the official
IP, there's not a whole lot of memes who have this, right?
I mean, I think this has a billion-dollar upside at this point.
And it pains me to say that because I was in this meme around $30 million,
and then it just didn't really do anything.
I just got kind of time capitulated on it it i think maybe even took a small loss and i think this has
tremendous upside i was actually thinking yesterday should i get back into this one i
like the content fuck you're getting me excited and the meme is good it is like one of yeah it
is a classic og i don't know if it's crypto-native.
It's definitely not crypto-native, but it's OG.
Remember memes were just getting created?
It's one of the first memes.
Remember the dinosaur meme or the little kid with the punching thing meme?
Those memes that you just had writing top and bottom?
These were the first online memes.
This is one of them, right?
I'm actually surprised I personally didn't take the trade early on because this is right down my alleyway.
It's one of the reasons why I took the Pepe trade early on.
It launched during a bear.
Not like a crypto bear, but it launched during a meme.
A broader meme bear market.
There wasn't really a whole lot going.
Are you calling it the next Pepe? Like, is this
giving you Pepe vibes? Is that what I'm getting?
Yeah, similar setup, right?
Oh, wow. Wow. What a great bait
here for a clip. We gotta be clipping,
Tyler. We gotta be clipping. We're gonna be clip
Yeah, I mean, so anyways, I thought that was cool.
Have to give him those flowers.
I may, listen, I had a cool streak too this summer, Tyler.
So I may have to get back into the game, you know.
But my cool streak's funny.
You were talking about yours.
I haven't owned more than three tokens in the last like six months, dude.
So it's not working for me.
You know, I take big trades. I'm up a ton and then
down a lot and then I go back up a ton. It's weird. You know, it's weird. Anyways, speaking of
trades, I think this is the most frustrating trade for the both of us. So may as well frustrate us a
little more here, Tyler. I have to go there because it would be, it would be not right of us to go
there because like one of the best performers right now in the last 24 hours.
telegraphed that trade perfectly.
We talked about it on the show perfectly.
We broke it down perfectly.
I fucked it up on spot, dude.
You could be shaken out or even forcibly shaken out of positions.
We knew that the thesis knew the buybacks was always going to be strong.
Figured that they were the revenue, everything.
What was had overtaken them.
I think both you and I objectively were saying like, okay,
like let's let's make, okay, let's let this
play out for more than a few weeks before
jumping to any conclusions.
fighting off every competitor.
They're flipping Hyperliquid and daily
revenue now. And Hyperliquid
So again, I've said this before,
Hyperliquid's either way too high or pump
is way too low or perhaps somewhere
in on the daily numbers, so let's
zoom out. But even on the month,
I think Pump has an easy 4X in it.
Like with size. I mean, what's it at?
you're telling me Pump can't hit
20 billion FDV? Sorry, that's a 5X nearly.
meme rally for that to happen,
but I agree that's in the...
But you feel it in the air a little bit, right? We're talking about
these Pokemon capital markets,
whatever the fuck. The fact that you do narrative
spinning around and coins running. You're talking about streamer
coins running. You got a few.
You're talking about pump fund revenue going up.
You're talking about this troll thing.
This is still big. A big meme moving big time
is a lot of money created.
Palm's going higher, man.
I think it's going higher. The wild card
is still in the airdrop. How is it going to work?
When is it going to happen?
I can still see that being
perhaps a barrier to folks wanting to deploy
But the momentum is clear now.
And I also think memes are probably going to have a strong Q4.
And if you think crypto is going to have a rally, and I do,
if you think Bitcoin's got a shot to go to 140, 150,
there's going to be other pockets that explode during that time.
And I don't think memes are going to go to zero
The setup would be good for it.
I don't know if I'm calling it 4X,
but I think it can get to 10 pretty easily.
I think you're one of the first people to spot that.
Yeah, I saw the stat yesterday, and shout out to Everstake.
I don't have it handy, but they overlay the exit queue with the entrance queue.
And the exit queue has been significantly above the entrance queue until basically yesterday
where they've effectively met. So I think the entrance queue might have actually outpaced
the exit queue. But basically there's $3.8 billion in ETH waiting
to be staked. So while everyone's been talking about this massive outflow,
there's also a huge inflow. So effectively what's happening is
folks who have held ETH for a while are
We don't know exactly what they're going to do.
Some are likely going to sell it.
Some perhaps are going to put it in DeFi,
we've got the new buyers who are looking to lock it up and they want to start
this is how assets trade higher, right? You have
to churn through the older buyers and get the new buyers in with higher average price points,
who are going to hold it for a longer period of time. You've got that happening with the ETF buyers.
Now you have it happening with these DATs and this is the foundation for the next leg up for ETH.
I thought it was a good point.
Because we keep sharing the out, but it's funny.
And then I saw obviously publicis' comment on your post,
so that makes absolute perfect sense that it's just old buyers getting out
and the new buyers kind of restaking it right away.
I mean, we haven't seen the tip of the iceberg when it comes to restaking
the that's and their assets, right?
Because like you're going to want to earn yield on all these assets.
And like, I think what's going to be interesting is to see, you know, we're like, oh, Tom Lee versus Joe Lubin versus blah, blah, blah.
I think what's going to be interesting is less who owns the most ETH, more who's able to return more yield per stock owned to their...
I think that's going to get really interesting.
How much yield are you able to
return to your stockholders?
Because what's the point of owning
Basically, the only point
to own a share of a dAT versus
is you think they're going to get higher yield than you could get.
Which I think will be quite interesting.
There was some polymarket news.
There was some Brian Armstrong news.
There's so much going on in the last couple of days.
And we should probably talk about the prediction market
This is potentially impacting Myriad as well.
And I don't know all the specifics of this.
And I feel like this was one of those,
the language in the announcement
is one that is not in plain English.
Yeah, that was a weird one,
They're not going to pursue enforcement actions against
QCX, exempting it from certain record keeping
and data reporting requirements. It's a no action letter,
but basically the TLDR is.
Polymarket now has the green light to
operate its prediction markets in the US.
For Polymarket, at least.
For those who are using Polymarket here in the U.S.
It's also big for their sports markets,
because I don't know if folks have seen this.
Sports betting on DraftKings and Vandal
is blocked in like 20 U.S. states now that it's a pretty pervasive block what yeah i didn't know that
um so that's part of what like underdog is doing with their their new crypto.com partnership and
they're leaning into the sports betting prediction markets they already already said like, we're going to operate in those States where DraftKings and others aren't
that's a clear market right there.
So I think that'll likely be a big boost for Polymarkets volumes here in
for other players who also want to try to get into the U S right without
it's going to be a big one.
So I think, again, the broader theme, like stepping back, zooming out,
it's this current SEC, this current CFTC,
are done regulating by enforcement actions.
They are giving the green light to protocols pretty much across the board,
And they're also building out a regulatory framework live as we speak
to oversee all this so that it's not just the Wild West.
As they're doing that, they're no longer going to prohibit
They're opening the doors.
The doors are no longer closed.
And the regulatory framework is still coming.
There are going to be rules of the road,
but it's not just going to be a total ban.
is still the big trend happening
I don't know if it's really being talked about.
I think it's talked about in our circles.
I don't think that mainstream
and Tradify really see it yet.
I think we're so early to that.
There's not a lot of people trading on it.
More people are tweeting about prediction markets than using them.
I was even talking about bigger than prediction markets.
Clearly, there's prediction markets are booming on CT right now.
People love to talk about it.
There's a lot of renewed...
I'll say what I see behind the scenes.
Everybody wants a piece of
prediction market to get.
did not take us seriously a year ago
when we were talking about building Myriad
I think it's a huge sign, right?
People are interested by prediction market.
And it's like, I still stand by, there's a reason why we spent the last 18 months doing
I do believe it's one of the best breakout apps for crypto, prediction markets.
Polymarket is arguably one of the greatest breakout apps for the crypto industry ever
created, like in the history of crypto.
I think NFTs were that in 2021, right?
Like NFTs were like the single biggest onboarding event for normies into crypto.
I think even to date, like I think more than meme coins, personally speaking.
Meme coins are good, but they go in waves.
Like the Trump token up and everybody got wrecked, you know.
But prediction markets, I feel like there's something
a little easier for normie to play with you know and there's something for everyone right like
maybe maybe i don't watch sports but i care about politics yeah i've got politics markets maybe my
wife doesn't care about uh interest rates but she loves lady g. So she can put on the Lady Gaga.
Oh yeah, Lady Gaga market's good, huh?
Yeah. So again, there's something
for everyone. You can pick niche
You don't have to go chase. You have more control
There's multiple ways to in turn exit.
So there's a lot of advantages.
Yeah, 100%. I think it's freaking awesome.
Yeah, I mean, on this macro,
while we're talking macro,
the US Fed hosts this payment innovation conference.
It's just a big headline, right?
So what the conference is actually going to do,
they're going to talk stable coins,
tokenized assets, AI for payments,
And this is happening on October 21st.
And the broader idea here is for them, everyone who's invited, which is going to be regulators, academics, and industry participants as well, to discuss ways to innovate and improve the payment system. So how can they use, how can we all use in the US stable coins,
tokenized stocks, AI, and DeFi from crypto to improve the existing payments landscape?
Like, take a step back and listen to that.
That's the Federal Reserve.
Looking at AI and crypto to improve payment systems.
So yeah, it's a big deal.
This one feels like it's a little bit slower, right?
But it's a conversation that wasn't being had last year.
And so that was another big one.
Not one that necessarily moves markets in the near term,
but it is a big announcement.
Other than that, let's see.
We kind of went through the list pretty quickly.
A handful of others, maybe going out the risk curve.
There was a little bit of – it's been a rocky road for the creator coins.
Dude, that Gainsey stuff.
I think that happened right after our show yesterday.
They covered it on Rector Radio.
What did Gainsey do this time?
He misclicked. God covered it on Rector Radio. What did Gainsey do this time? He misclicked.
According to him, and I do believe him in this.
I actually believe him. I've read a lot of tweets.
and Broadlead Creator Coins
This came just like a day after their
product to send announcement and 10x
creator fees. His token had gone up
I think it was trading at $6 million at the time,
so it went well below $1 million.
It's back to $2 million now, but
substantially below. He is trying to figure out how to buy it back, make people whole. I don't know exactly how It's back to $2 million now, but substantially below.
He is trying to figure out how to buy it back, make people whole.
I don't know exactly how he's going to do that.
I think that's going to take some time.
posted an interesting tweet about this.
He showed a screenshot of the...
They should change that. Yeah, I saw that tweet.
It actually is pretty understandable.
This UI is quite terrible.
And I was going to tweet about it, but I didn't have enough information, and I haven't seen this firsthand.
Like, this is what you see as a creator or as a trader.
But this is basically incentivizing you to either sell it all or half or buy a tiny amount.
Like, you could buy 0.05 sold. Oh, God. To either sell it all or half or buy a tiny amount.
Or you can sell 100%. Jesus.
Maybe don't set the ape out at 100%.
I don't think there's an approval.
I think it's one click, right?
I'm not apologizing for him.
We're not Gainsey apologists?
I have never accidentally sold 100% of the position.
I have bought the wrong coin before.
Like I've not pasted the correct address and just typed in a new name and
bought a fake one before.
So I've done mistakes like that.
I've never mistakenly misclicked and sold 100% of the position,
but they need to fix that UI.
AI Rev donated us another hundred subs today. That's 300 in two days. What a guy. Appreciate you. Everybody,
I want to see some thank you AI Revs in the chat. Just a reminder, we are live on Kik every single
day. Kik.com forward slash dgens live. I'll pin it again to the Twitter spaces, but this is where,
you know, this is where the magic happens. You want us to win some money, you got to listen to us.
Watch us on Kik. It's much better.
We do post VODs on YouTube after the fact,
but I think it's always fun.
There you go. I want some thank yous, AI Rev,
in the chat. Love that. Love the love.
Anyways, our guest is here.
Let's talk Pokemon. I love Pokemons, man.
I mean, I used to love them as a kid.
And now they're hot, and I realize...
You know what? I think everyone's been through that.
It's like, yo, I must have a lot of money in my mom's basement.
It was like last year or like 2020.
And I went back and all I found were hockey cards.
And hockey cards are worthless, Tyler.
Super sad, by the way, because I have some bangers.
But my Pokemon cards were French, which kind of meh, because I grew up in France.
And they were all fucked up.
So I did not find a gold medal.
But anyways, I'm sure our boy Tom.
I'm trying to get the lighting right, but I keep messing stuff up, so I'm all bland out, whatever.
You guys have phenomenal lighting on your side, though.
I mean, honestly, I would be concerned if we didn't because that's kind of what we do as a living.
And Tyler only figured out how to make his camera work three years ago, so don't worry.
It took him a whole few years of hosting the show.
What am I meant to call you?
Am I meant to call you Tuom?
Yeah, Tuom. It's short for Tuomas,
which is how you say Thomas in Finnish.
So I grew up in New York, but I'm from Finland.
You may be the first Finnish guest.
There's not many Finnish people around.
They have a very bad sense of humor, so they don't make it too far.
They're definitely not going to cut for CT then.
They just get pissed off all day.
Look, Tyler and I, we've got some things for you.
But first, Tyler and I, look, we were like, let's get a guest on.
This Pokemon stuff, RWA is all over our timeline.
the cards token went absolutely insane.
So, but before we get into that,
can you give our audience that don't know you,
a little introduction about yourself,
how you got into this whole Pokemon game?
Is that brand new? Like, you know, give us a little bit pokemon game like is that old is that brandy like
you know give us a little bit of a background on yourself yeah for sure so i'm a little bit old for
uh for crypto stuff but that that makes sense when uh when i got into crypto in 2013 i've been
in crypto for 12 years now it's kind of crazy but um you know i started out you know my my
my collecting career started out in the early 90s in New York.
I was a semi-professional Magic the Gathering player.
A semi-professional meaning that I hung out with the big kids, but I could never beat them at tournaments.
But like my small local game store, I was banned from playing because I was too good.
So I was kind of like stuck in this little shitty place where nobody wanted to let me play.
But, you know, I did pretty well at
that and got a lot of cards. I wrote for Scry Magazine, which is one of the industry magazines
back in the day. I wrote deck articles and that kind of stuff. And then I went to college and on
my way to college, I'm like, oh, this is silly. I'm just going to sell a bunch of cards. And so
I paid for most of my college with selling these
cards, which was really cool. And then what I had left, you know, it was just kind of collecting
dust. And then after college, I was like, oh man, you know, real life is hard. And, you know, I hate
my job and this and that. And I look at the shelf and I was like, oh man, those were some really
good times and really enjoyed playing with those things. And then I got back into it. I started collecting again. I started doing some trading on eBay, you know, while I was doing my
full-time job and my full-time job, you know, I'm an entrepreneur. So I started with, you know,
I joined a startup in when I was an undergrad that did all right. You know, we sold it,
you know, as the tech bubble was collapsing.
Then I went to business school and I started a vaccine company out of business school.
Spent out some technology from UCLA, raised about $100 million for that. And then just kind of my
career was infectious disease, vaccines, oncology for the next 15 years. And then in 21, you know,
COVID and everything, I had this idea. Sorry about the camera. Come on.
You're good. Don't worry about it.
Yeah. I had this idea about the, you know, the Pokemon cards and magic cards on chain.
I started coming up with that basically in 2017, but in 2017, you know, the issue was that people were trading these CryptoPunks and most of the
way to trade this stuff was on command line. And it was just really hard to figure out,
well, how do I get stuff on chain? How do I get stuff off chain? How do I mint NFTs?
And so there was a lot of infrastructure that needed to catch up in 2017.
So even think stablecoins.
You don't want to list your Michael Jordan rookie card in Ethereum when Ethereum can drop 80% and then all of a sudden somebody comes and buys your Michael Jordan rookie card for 80% off.
So you needed to have stablecoins there because that's what all these cards were trading in in the real world right and um so you know waited until 21 with defy summer stable coins became really much more
developed you had nft boom where all of the infrastructure to mint nfts and marketplace nfts
and all that and then finally wallet started catching up right so it kind of felt like oh
we got all of the issues that we had back in
2017 starting this like other people have figured out and so finally it felt like a good time to
start collector crypt and we did that in october of 21 uh we we raised some money from some really
really good you know investors like soul big brain and and and gsr and and GBV and some of these guys.
And then essentially put our head down for about a year,
Most of the work went actually into the back end,
Like how do we get cards on the platform?
All that kind of stuff. And then we got a partnership with Magic Eden
where we did some mints with Magic Eden.
The first mint was incredible.
We had like 80,000 people connect their wallets at the same time and try to mint it.
And the damn thing minted out in one block on Solana.
um i you know i've never seen anything like it but people were super interested
I've never seen anything like it, but people were super interested.
and uh and then basically like um you know we started building our community and i i think we
we made a real good decision back then to just say well we don't really care about making too
much money we don't really care about all this kind of stuff all we want to do is just provide
the best kind of like product market fit to our community and the best um you know kind of like user experience
and so we did that for 12 months uh we launched our own kind of insider nft which is called the
collector crypt card club that was a free mint um basically rewarding all the ogs that's a free
mint i saw some trades go through it around $1,100 yesterday on it
because it's kind of tied into our ecosystem in a cool way.
And then we launched our gotcha machine,
which I saw you bring up there.
There's one pool in that gotcha machine that's out of stock,
so you can't run it right now.
But with the token launch and with
kind of like the the hype that we're getting um it's just insane we ran we ran it for one hour
yesterday we did 7 000 packs in one hour representing about a million and a quarter
two million and a half dollars worth of packs that were bought in one hour and then we sold out
yeah it's nuts so dig it into that so how do so for folks who are
maybe loosely familiar so how do the packs work do you buy the cards fill the packs take everything
behind the scenes like can you walk us through that process yeah so so anybody can go and submit
cards to the platform so people are submitting hundreds of cards.
You know, I used to say hundreds of cards per month, but now it's probably like hundreds of cards per week.
So they submit their own stuff.
They could list that onto the platform.
They could come and open up a ticket and say, hey, man, you know, I uploaded my whole collection here.
You know, will you buy it from me?
And so we give them liquidity in many different ways or they just hold it on
maybe somebody is like a crypto nomad and they're lugging around this,
$40,000 Pokemon collection from,
Somebody is going to steal these from me.
we just store them from them and they get to enjoy them on chain like this.
most of the cards come from us sourcing them.
So we have a number of buyers that go to, you know, there's around 40 card shows, big ones in the United States every year.
And so we have several buyers that go to a lot of different shows.
You know, one guy that's just been killing it for us is his name's Reed.
He's on Instagram, RJS Collectibles.
You know, we looked it up. He's bought
almost a million dollars worth of cards for us in the past month. Just going to shows and just
hustling. The guy works hard. And so then we take those cards, we authenticate them, we get all the
scans, and we mint the NFTs. And usually right now, because there's so much demand for our
gotcha machine, they go just straight into the gotcha machine.
And so every single day, we're doing new mints to try to get the machine back up and running.
Because when we hit the on button, literally we have thousands of packs that are just sold in an instant because people are there waiting for it.
And I think a lot of people who don't understand our platform, they kind of
look at it and say, oh, this is just a new way for DGents to gamble. This is just a new way for,
you know, crypto people to be crazy and spend money. And, and, you know, that's actually not
the case. I mean, I, I totally get it that there's a randomization aspect in here. You put some money
in, you might get a $30 card or you might get a $4,000 card. So when you hear that, you kind of say, well, geez, this is gambling. But when you take a look at the way we've
structured our machine, we are the only vending machine that has a positive expected value.
So that means, you see there on our page, you put $50 in for the machine, you're going to get
about $55 out on average. And people were making fun of me on the Threadguys stream yesterday because they didn't understand
But basically, because we buy these cards at a discount, we're able to extend, offer
that discount to the users.
And so if a user wanted to, they could buy cards, Pokemon cards in bulk at like a 10%
cards, Pokemon cards in bulk at like a 10% discount. Right. But if they wanted to concentrate
the prizes that they win, if they wanted to concentrate into the higher end prizes,
the cards that are worth, you know, 300 bucks up to 4,000 bucks, then they sell back some of
the commons. They sell back some of the misses or the cards they don't want. Right. And so instead
of getting like a positive 10% expected value
or buying the cards at a 90% discount,
they take us up on the buyback offer
and they concentrate their collection
more towards those rares and epics.
But at the same time, they don't get that wrecked, right?
it's every single spin they get something
and it's over a long period of time,
So you could see people that are spending tens of thousands of dollars, they walk away with tens of thousands of dollars worth of cards.
So we call it a gamified shopping experience versus kind of like a slot gambling machine.
It is very interesting. I think it's to me, so it begs
the question, you're passing the discounts straight on to the users. So how does the
protocol make money? How can you sustain this over time? Is that where the token comes in?
No, no. So we don't, we don't need the, like all the money that went into the token is just going
to go back into buying more cards the platform without the token is is
profitable we've done 80 million dollars of revenue on the on the vending machine this year
and we've we've generated about seven million dollars worth of net operating profit from the
machine um and that that comes because of the way that people use it right so our buyback on the card is 85 of market value
and we're sending that card out at a 10 premium to market value so if you multiply those two
numbers you 10 premium 85 discount you actually get around a six percent take rate from the
platform right so for every card that's sold back we're earning six percent we do have some
incentives in there so that those incentives go in there
and they drop that 6% down to like 4%.
So our take on an average buyback is about 4%,
and 90% to 95% of the cards are bought back.
So that's how we make our money is from that little loop that we do there.
So shout out to you all for figuring it out.
Like this thing is at 425 million on FTV.
Maybe we should just talk about this for a second.
I wake up at like six in the morning.
I'm like, holy shit. Do I need to move the liquidity ranges and the pools and all that stuff?
Because this was trading way lower.
Interesting. days ago three days ago two days ago sorry interesting so what i mean i yeah i think the
people finally started understanding the narrative um and they started to understand the product
market fit of bringing trading cards on chain and you know they this chart isn't necessarily
based on our fundamentals even though we're very you know, I think the fully diluted
market cap, you know, is different.
Obviously the circulating market cap, you know, we only have like nine or 10% of the
But, you know, if you, if you, if you think about like what, what the potential is to
bring trading cards on chain, if we can do something with $800,000 and build a platform that in a few
years is generating, you know, we're going to pull in probably $150,000, $200 million
in revenue this year and probably bring in, you know, $10,000 to $15 million in net operating
If you could do that off the $800,000 investment and have extremely good product market fit,
have a really sticky community, our average user in our community has spent $18,000 on our platform. And we've spent $0. Oh, that's a lie. We've spent $100
in marketing, and that's to get the blue Twitter checkmark. We haven't spent any money in marketing.
We haven't really pushed KOLs or influencers or anything. We just focus on the product and
building a good community.
And everybody's told their friends because they're like,
this is really a better way
to do these digital repacks.
It's better than box breaking
you're negative 70% usually.
And here you can kind of get
maybe I'm going to get something big,
but you're actually not really getting wrecked in the process doing it, right? So, you know, and it's all the things that
you need blockchain to do. So I think people are viewing our token as kind of like a proxy
into this whole new world of this real world asset kind of thing and being able to bring,
you know, collectibles on chain. So right now, you know, we're the, we're the top Pokemon digital repack platform, you know, Courtyard
is the top digital repack platform overall. You know, they're kind of our, our, our big cousins.
They do sports, they do comic books, they do all this other stuff and they've, they've raised over
$40 million, right? We've, we've raised $1 million million dollars and so you know we are just
growing organically a little bit more slowly but you know our growth in the last few months have
just been explosive because the the bets that we made in our community in our narrative and our
product are really paying off now so you know just can you imagine when we open up sports sports are
going to triple our revenues right then we're going to open up sports? Sports are going to triple our revenues, right?
Then we're going to open up sports in a few weeks.
So, you know, it's just a really exciting time. So I think our chart is reflecting kind of the reality that bringing these cards on chain has extremely good product market fit.
And we are kind of the leading platform on the leading retail chain that's going to come and bring this to the next level. One of my questions was, how are you going to 10x to 100x this platform? I think you kind of
went there, but we'd love to perhaps hear a little bit more of your thoughts on this is sustainability
of the Pokemon aspect. And then, yeah, where do you go from here? Yeah. So how do we 10x?
And then, yeah, where do you go from here?
So, you know, for example, most of our users are Web3 users on Solana, right?
Crypto is much bigger than that.
You have Ethereum OGs, you have Base, you have Abstract.
You know, we are forging partnerships with platforms on each of those chains to basically utilize our, you know, under underlying
infrastructure to bring cards in and do the shipping and minting the NFTs, right? They could
put their own skin on top of our card inventory, right? And so, you know, that's one way we're
going to grow. Going to Web2, right? Like having a really good Web2 experience where you don't need
to have a phantom wallet, you don't need to do any of this kind of stuff. You could come in with a,
with a social login or an email login and use your credit card to play. Um, that's probably
going to five X what we're doing right now. Once, if we're able to get that retail side, right,
moving into sports is going to three X. So you have all these multipliers that, you know, if
the world were perfect and I was a genius, we'd be able to figure out how to have all these multipliers that you know if the world were perfect
and i was a genius we'd be able to figure out how to do but uh you know we're all all i could say is
that we're going to do our best well this is uh incredible to hear firsthand some nice alpha for
our listeners who have tuned in i am curious i'd love to hear in your own words why bringing
pokemon cards why bringing any kind of collectibles
on-chain makes sense. We've got our thoughts as natives running a show in this space for
several years, but I'd love to hear from you as a founder.
Yeah, so I think the way I view it is that we're reimagining how collectibles can be traded.
The way I view it is that we're reimagining how collectibles can be traded.
You know, right now, let's say if you're sitting in your beautiful house and you're an eight-figure guy in China,
and you're really interested in buying a bunch of vintage basketball cards, right?
You're sitting on eBay, you're perusing auctions and stuff.
Whenever you win an auction, you pay with your credit card, you're paying a 6% foreign exchange fee. Then you're going to pay a bunch of shipping
and handling. It's going to go get stuck in customs for two months. And then you're going to receive
a brick, right? Maybe you don't even receive the card. And then you go, eBay, eBay, come help me.
You don't really speak English too well. eBay, come help me. This guy sent me a brick,
but I should have received this Michael Jordan rookie card.
And eBay goes, hmm, you bought that card two months ago. We've already paid the guy. There's really not much we could do. Sorry.
So basically, the way the system is set up right now, particularly for international participants, it's very difficult to access trading card liquidity
on U.S. marketplaces, right, for fees, for fraud, for customs and time and all this kind
So they just don't do it.
So, you know, our platform basically unlocks all of that internationally because you could
use USDC, you can go and get the cards, they're stored and vaulted in the United States.
You know, we could ship a package, you you know with all the correct customs forms and everything done properly with insurance so that you know that you're going to get the package on the other end
versus some guy and and you know i always try to come up with a silly name in the in the u.s like
masagua or something like some guy in masagua shipping, shipping out your Michael Jordan rookie card in a shoebox, right?
So, you know, I think that's one major unlock.
Another major unlock is just the settlement issues here in the United States, right?
So you could sell a high-value card, like a $6,000 or $7,000 card.
eBay's not going to pay you for three to four weeks, right?
And if you're the seller and the buyer comes and says,
well, no, he didn't ship me this $7,000 card.
He shipped me this $1,000 card.
And the seller's like, fuck no, I didn't do that.
And eBay's going to say, prove it.
What are you going to do?
And then usually it's the seller that gets stuck.
You know, then you also have the settlement issues around like major games.
Like let's say the Super Bowl is tomorrow and you have auctions for all of the rookie players on both teams in the Super Bowl.
Right. What you could do is you could go in and win all of the auctions.
You say win 100 auctions, like, you know, three hundred thousand dollars worth of cards.
You wait for the Super Bowl to go by.
And then for all the cards on the losing team, you're like, nah, you know,
I bid that by accident. I don't really want that card. You know, please cancel, please cancel.
But all the cards from the winning team, you're like, fuck yeah, I just made some money. Let's
go and buy them. So because the settlement is there, it causes this friction with kind of like
people manipulating the system to try to get like excess returns, right? And that
makes it harder for buyers. It makes it harder for sellers. It means that platforms like eBay
have to charge 13% transaction fees to deal with the layers of fraud that are there.
If you reimagine it and you say, let's take these cards, let's authenticate them upfront.
Let's put them in a secure third-party vault, basically like
an escrow. Let's tokenize it so you can have instant settlement if you sell it from here to
here and you get money from here to here. There's no chargebacks. There's no returns. You eliminate
all of that layer of nasty garbage and you let people go in and enjoy the hobby the way that
they want. You stop extracting. You give them better tools to find cards, to buy cards.
You reduce the costs and fees.
You know, right now, trading cards have around $25 to $30 billion worth of annual turnover.
If you get rid of all this crap, what do you think is going to happen to the velocity and the frequency of these transactions?
And this is all going to be done on, this is all going to be done on chain.
Because that's the only place you could do it.
It makes total sense, but it's great to hear it from you firsthand and eloquently and in
So I appreciate all your thoughts on this.
I know it was last minute.
I know you had some other stuff going on this time, but Tom, that was, that was great. I mean, wow.
Yeah, no, man, you guys are, you guys are awesome. You know, I appreciate being invited on the show and, uh, you know, I'll just call out to my community on discord. I love you guys. They always, they always, uh, you know, make nice comments about my hair and my, you know, the way I look and stuff. So, you know, I kind of like this, I kind of like your blur effect,
like that bluish blur. Like you got, you know, it's very, I don't know.
I like it. It's on brand.
My, my, my 15 year old web camera.
I don't have the exact words. I'm paraphrasing, but like you,
you want your founder to, to be, there's like,
you don't want the fully muscled tan founder.
You want the guy either locked in the basement for 20 hours a day
or you want the bald 40-year-old founder who's been through the grind,
He's been around the block.
Twom, anything you want to leave our listeners with,
ways that they can find you or the protocol?
No. Yeah, I mean, please follow us on Twitter.
You know, our community is popping off on Discord all the time.
You know, I'm usually pretty reachable.
I mean, the past few days have been pretty hard
because I'm getting a ton of incoming requests and stuff.
But I'm usually pretty good.
And, like, you know, ask a question.
Our community is probably more of an expert than I am at all this stuff.
And then I do want to shout out, we're not the only guys building this on chain.
We're probably the most revenue, most profit, best community, all that kind of stuff I'll
But there's a number of other guys.
I want to give a shout out to BZ.
I want to give a shout out to Fz i want to give a shout out to fidgetals ripfund you know grail these these guys they're
all hustling too and we're all hustling in the same way and uh you know there's as i mentioned
there's 30 billion dollars worth of trading card revenue out there that is being done in a really
shitty way and so we're all building and innovating. Come and support us. Find the
community you want to be in.
I love that. That's the spirit,
Tuomas. And thank you so much
hope you have a great rest of your week.
Wow, this is crazy, dude. $200 million
I'm already shut in. He gave us so much alpha, too.
Cause you remember when I talked about it on the show,
like I found like a bunch of my cards and I have like 30,
I left them in my card shop and I was like,
can you sell me these cards?
I haven't heard from the guy in a bit.
But, but I just texted him. I'm like, yo, can you sell me these cards? I haven't heard from the guy in a bit. I trust him though, so it's good. But I just texted him.
I'm like, you, did you manage to sell my cards?
Because if he didn't, I kind of want him to ship him here.
And I'm going to tokenize that shit.
And by the way, it's on Solano.
It's on Solano, like stuff just saying. It's on Solano.
I find that very interesting.
Anyways, let's give some money away. The code today was Pikachu.
Let's give some money away.
We should get a guest on. I think Mendo's out.
We gotta get someone talking about Pokemon smoke some more
13 let's see what his username is looks underscore 13. Are you here?
Looks underscore 13 Congratulations, I here? Looks underscore 13.
Cold blood shitter could be fun.
Looks, looks, looks, looks 13.
Let's give him a little bit so we don't have what happened last week.
We're not going to re-roll this quick, y'all.
I know y'all want to re-roll, you motherfuckers.
Last week, we had this thing.
We're giving him one of the two slots tomorrow because we re-rolled so fast.
But I am not going to give him two hours, though.
I need Colac to win once and for all, all right?
I think the clock is seriously ticking now. The clock is ticking, ticking.
Thankfully for him, I have like 30 more seconds.
got it, got it. He's like,
That's fair. It's fair to be on Twitter. Oh, you were on Twitter. My bad, my bad, my bad, my bad. You're good, fuck. All right. That's fair. It's fair to be on Twitter.
My bad, my bad, my bad, my bad.
You're good, you're good.
Next time, if someone's on Twitter and not on kick, just request to speak if you want.
Okay, got it, got it, got it, got it, got it.
See, I'm glad we gave him.
What do you mean I forgot you?
What's your page? You're getting a little called out. He's calling me out. Let me see. What's your page?
You're getting a little called out.
This person's always there early on.
Big myriad. Yeah, dude. I'm sorry. I'm. Come on, Luke. Shut up. Big Myriad Yeet Rekt guy.
Luke, what do we play for them?
Because we don't have that much time. What do we want to do,
Should we play Plinko? Let's do Plinko.
This is our Plinko revenge arc.
What do we do, like five balls of 100?
There's some variance in there.
Should we do like five balls of a hundred? Ooh, there's some variance in there. Should we do that?
Gives us more shots a thousand.
All right, fuck it, let's go. All right, well, congratulations
looks. First and foremost, you won
a thousand dollars. No, Well, congratulations, looks. First and foremost, you won $1,000.
You won a screen before Plinko.
Okay, I took a screenshot.
So congrats. You won $500 already.
We'll go turbo mode, though, because that's a lot of balls.
So what we said, we said 2025s?
Reminder, every day we give some money away, so make sure you sign up.
Lightspeed rose 16, 20, 25.
That's the right thing, right?
I think he made some. I think he made 1,000 bucks. 1,005, yeah. I think he made
on the Plinko, which means
500 bucks, so that actually wasn't that
about it. Well, congratulations.
Dude, how is this fucking legendary guy flying private jet, hitting 1,000x? were going to do them. Dude, honestly, we're getting rough. Dude, how is this fucking legendary guy
flying private jet, hitting 1,000x?
I don't know how to do it
Maybe someone who's more of an
expert than me can give us
some thoughts on how that works.
if you have to beat the 2, you'll get
a 2x and you can do high stakes,
but then your cap upside is 2x.
But then if you do a 10x,
I guess we'll see tomorrow.
With that, we'll see you tomorrow.
Tami's side time for another episode of Film Hour on Rug Radio.
I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm I'm Thank you.