Those will be the best memories
I just want to let it go for the night
That would be the best ever people
That would be the best therapy for me
Those will be the best memories
I just want to let it go for the night
That would be the best therapy for me
All the crazy shit I did tonight
Those will be the best memories
I just want to let it go for the night
That would be the best therapy for me
So for anyone that doesn't know English and I
will have a back and forth before the show
and I'm like alright can we just have a song this time
He was actually picky before and then so what I did was
I was like I'm gonna go two or three
Sundays and I'm just gonna fuck up the music
where I can't even play a song
and then I'm gonna break him down so
I actually broke him down and now he's like
And I'm like sure buddy you got it
Yeah it's just like something hype, something fun
That was my social engineering of you
It only took two weeks, I broke you pretty quick
It was actually 100% effective
I did not mean to text that to you
Ignore that text that I just said to you
It links you to our space
When are you doing your next spaces
and I think they met my next
but they just asked spaces and I'm like
well actually as a matter of fact in 40 minutes
they're like oh you do the spaces on Sunday
I was like as a matter of fact I do
and they're like oh really what is it? I'm like oh it's with Eddie
and they're like oh is that the Solana guy with
the clay dinosaur and I'm like yeah that's exactly what you're doing
Oh my god that's actually amazing
That guy is awesome by the way
Yeah I know he does spaces too
He didn't say actually clay dinosaur
That was actually my response I was like no no
That's the Solana guy with the clay dinosaur
This is the guy that took
20 eth to 4 eth single handedly
That was literally my response
I'll show you the screenshot and tab revisits Discord
And they're like oh I don't know that Eddie
I'm like okay well jump on the spaces
and you'll get to know him
So that was my pregame interactions
I'm your host for tonight Eddie AKA
Dancing Eddie not Fast Eddie
Great dude, lovely dude, not me
I'm the guy with the seal
when there's like a Super Bowl or
those Sundays we tend to ignore
but we generally run this puppy every Sunday
give or take depending on the day
Next week I'm going to be running
but probably not like anything longer than an hour and a half to two hours
because I've got a pretty big thing to do
But anyway that's what we do here
and we just talk kind of generally
you guys can also find of course the TDA
every Tuesday through Saturday
depends, it's like 10.30 am Eastern
2 pm Eastern depending on the day
depending on what's going on
And of course the more alpha the more they run
That's what we're up to, that's where you can find us
we've got kind of a bunch of things
Kind of could just hang out
check in, see how things have been
but also definitely interested
whatever the hell happened with Yuga
I've got some opinions there
but we have a lot we could talk about
Oh my goodness I'm so excited
Risa is coming up, I'm excited to congratulate her
and we're going to get to that
I'm going to bring that up in a second
I had no clue what it was
It's one of the most relevant
She's a pretty bad ass person
for anyone that's listening in
If you're listening in and you enjoy things
if you want to help out the space
bottom right purple button likes and retweets
thank you if you choose to do so
but again thanks if you do
you can but not a necessity
speaking of hands we'll start with Scoty
Is the move or Kevin Rose
the same Kevin Rose from Dig?
The dude that threw the raccoon down his stairwell
You know that's funny because that was
like his most bullish moment
when shit was going bad and people were like hey but there's a raccoon
throwing Kevin Rose down the stairs
Holy shit that is so funny
that was one of the funniest videos
yeah for anyone that doesn't know there's a video of
Kevin Rose the founder of the Moonbirds
where he goes outside to save his dog
and in the process he takes a raccoon
throws it down the stairs it's actually pretty
it does like a helicopter spin
this like perfect beautiful free fall
he follows it like a badass
chases it down the stairs and rips it down the other side
it's like actually one of the funniest videos
and Joe Rogan even went so far as to
comment on it and he was like
you know praising the hell out of Kevin Rose for it
what's the official term like
if I guess if you were a founder
and you found it and you're always the founder
but it doesn't feel right like
would you say Cole is like the founder of pudgy
but so like who's so then who's like
the new person do they just have
whatever role they have CEO, president
I think tangibly impacted the
floor price at times for movers
it gave a feeling of realness
that's what the internet is about
outside of that and making people laugh
or just being entertained
I know your boy Gordon Goner
just putting out that tweet
my bad it won't happen again with the little
kitty that literally saved
that's why you don't see pudgy's currently
flipped and you see that two-week disparity
it was literally that one tweet
is actually just moved by the marginal buyer
what takes someone who is
from the proverbial ledge
even though it's not so drastic
what takes someone a step away from the ledge
and that could be very small
so yeah the marginal buyer
often times is what determines the price
that could be a pretty drastic
which I guess we'll get to that
but like before we get to that
say hello to toast and mason
two of my favorite forward facing
individuals in this space who are building
we've seen to date bar none
if you're a seal prep yourself
among other there's a couple other collections but prep yourself
there's a claim coming up
I think I want to say on like Monday or Tuesday
like Tuesday or Wednesday
that includes my node monkeys right
I'm good to go I have node monkeys in separate
like wallets should I connect both of them
is there a way to do that
you would want to connect them
to different ETH wallets you can only claim
so you'd want to like set up multiple
but if you wanted multiple opportunities
that's how you would do it
can I still do that or am I too late
now you have till tomorrow at
I just got back from vacation
so for me like this past week I've done
yeah that's our homework assignment
exactly I've also been crazy
busy man there's so much going on but it's all good
I'm good and it's exciting and it's fun
but I'll leave it at that
mention what's up Mason which by the way
if you guys are not paying attention to what Sabi
what Sabi is doing also like these
NFT5 protocol actually not even going to say
ETH based two of the best NFT5
protocols bar none just like
actually excellent product
excellent code teams that
to where things are actually going
dude was Sabi has been absolutely freaking crushing
it the past two weeks especially
if anyone's looked at their 404s
how you guys are managing trading
possibly the future of crypto
or NFT trading specifically
it's like actually one of
the best dashboards I've ever seen
for trading an NFT period
it feels incredibly fluid
obviously some work to be done I'm not saying it's
done by any means but it looks
thank you Mason how are you bro
yeah you're like actually I suck
yeah the dashboard's exciting
we spent a lot of time thinking
it's interesting because 404 is
trading experience mixed with an NFT
trading experience so how do you get
I mean like that's a whole
conversation in and of itself
we'll probably touch on it lightly as well
because I'd just like to honestly
into it has been fairly limited
you know like there's just a lot
but of course you had people
like PopPunk and that team
brand new version of it in DN 404
which is also hilarious by the way
we can support the DN 404s
what's actually the tangible difference there
so like for anyone that doesn't know
oh you're going to ping Hasan
it's like I'm talking to Venom
you pull out Peter Parker
just been working like getting this marketplace
even better but it's been
pretty interesting like working with these
I'm very excited about it
yeah so just like and I'll just touch on this cause
a lot of people basically have heard about 404
and basically get it right like
an NFT that is natively fractionized
I'd rather hear it from your voice
which is weird to say traditional
when the thing's been out for like 3 weeks
but Pandora 404 like original
basically fractionalized NFTs
the tokens are LEGO pieces
you can trade them and as soon as you have
or whatever you have the full
NFT automatically so it's kind of interchangeable
think as if you have separate
tokens which you can convert to NFTs
but it's actually like the same
there's two different standards out there right now
which is the original 404
opinion pretty revolutionary because
and the NFT in the same contract
this and it became popular like
it was breaking Etherscan and stuff so it was
kind of I really liked that
like it's a clean and gas efficient way
the fractions and the NFTs into separate
this kind of makes it seem like
there's two different assets out there
interchangeable logic so as soon
as you get a certain amount of tokens
an NFT appears in your wallet
then the tokens disappear from your wallet
it's like kind of a nice flow
and because they're two separate contracts
infrastructure can easily support
a very disruptive and a very
like conformist two different
standards and it's going to be interesting
to see what happens. Would you say
like would you say it's necessarily better or worse than the
token address and the NFT address is
I'm enjoying the original
the N 404s are also definitely
because they also have different
when you receive enough tokens
Interesting. What do you mean by that?
the enough amount of tokens
is larger than the last minted NFT
and this just keeps growing and growing
anytime you like send tokens
your NFT is burned indefinitely
and then when you receive
tokens you create a new NFT
previous one or completely new properties
the ID so let's say you have
10,000 NFTs in the collection
so you start minting the NFTs
it just keeps going on and after 10,000
so then other people buy NFTs
and the next person who's going to receive
he's going to receive the NFT number 5
so it's going to like wrap around
alright I'll be honest with you man
going to like listen back to this recording
to better understand that
kind of like decoded all of this
you can see which NFT you're going to receive next
we're building things like
shuffling NFTs and stuff like that
so there's a lot to unpack
it's like a new way to interact with NFTs
So you know what I thought was fascinating about it?
because for me the one thing
I guess frustrating if anything
at least for now 404 explained
and we're going to talk about 404 for a little bit here
but don't worry if it's not your thing
we're not going to talk about it all night
there's plenty of other stuff to talk about as well
whoa this is a crazy unlock
infrastructure as it stands today
and realistically in terms
of what's actually gaining really any traction
on the traditional coin world
there's a lot built out around that because there's
one generally more liquidity
but also two it's been around for
experience there is just more
we'll call them 404s just generally
whether that's original or DN
for current standing NFTs
stand today still stand today
and will be useful and even
404 will call them like fully
existing NFT-Fi infrastructure
applies but now for like the first time
the greater infrastructure
in like an actually meaningful way
find that fascinating like
theoretically your NFTs can
tie into Abe for the first time
been a thing. Yeah I think
the way that I think about
it right I guess in like math
square can be a rectangle
but not every rectangle can be a square
I think is what they say right?
It's always felt like that in crypto
crypto people can be NFT people
but not every NFT person is a crypto
person right? Like there's like
a gap there and it feels like this standard
is something that's like helping to bridge that
big man like I think that's
and I think that's because one of the biggest
issues that we've seen and actually
it's funny like you talk about the pudgies
part of their success is derived from this
centric communities or projects
whatever that actually tap into
the more native crypto side like
because it's like the very few that do
tend to outperform heavily
you see things like for example
apparently I don't even know but apparently
those things ripped this weekend actually I think they went up
like pretty significantly
but usually you take a look
a lot of the best collections
or best performing collections in part
traditional crypto types actually
and part of that stems out of the
culture of the token itself and like the trading
and I mean because I'll just be honest with you
are taking a look at cloneX
and they're like that's my shit man
that's what I want to trade
oh I didn't mean I didn't even
mean that to cute Kiro I was just like
what is a no I totally agree
you know that's the thing like
I stopped trading publicly
a while before that and it's kind of
traders people that are looking
to farm liquidity and stuff like that
we've seen what it did to the clone price
wants to trade them like people
want to collect them or people
also one of those things where it's like
as these things gain volume like
what's the word accessibility of volume
want to like actually trade these things
I don't know man I've just I looked at 404
and I think a lot of people are looking at it
as like okay cool this is
a fun little unlock and we can play with
you can play with some rapidly
price appreciating assets
what really is this and I think that's
some of the sentiment I've seen I think some people
are starting to recognize that it's something special
fully get it or think it might be overtly
complicated honestly I think
that's some of the UI and UX like I think
if the UI UX is improved around it that
removes a significant amount of the complication
I'm really really really harping
on what Wasabi is doing here because
it is actually remarkable
what's your what's your gut feel
like whether that's UI UX
or just generally yeah I mean I
think like like I kind of mentioned
I think the bridging the gap between
NFTs is massive right there's a lot of
liquidity on the DeFi side
I don't know they kind of have cult
around different protocols right so like
they have that like want to be part
of a broader community and I think NFTs
like good way right people
sense of community around PFVs and stuff
and then I'm also seeing like you're seeing
devs like Kigar and these groups
right I don't think like if it was
you know on a couple like
coins that like people would stop
take the time build out different standards
try different things like
I think there's a broader movement happening
and I will say like you're seeing it with some of the biggest
and smartest names right like
I think that that rebrand was not good
for them uh I keep calling them
Flooring and I think Flooring is cooler than Floor
personally I don't know man
free lunch free lunch capital
those guys they've been experimenting
with they've been talking with it
so those are some massive
massive brains working on it
obviously you guys at Wasabi
it's brilliant and honestly
and I wouldn't be shocked um
I wouldn't be shocked toast if you guys
start taking a look I don't know what you
I don't know what you guys are looking at
you gotta stay out of our slack
how's it going on it's going
I want to give a little bit of a counter take
just because like yeah I like NFTs
I haven't had experience with Arcade
but I have with Wasabi really impressed
with uh everything that's going on over there
really uh supportive as far as
actually walking their community through
the protocol and uh Aaron was in
my DMs and we were able to go back and forth
for like an hour probably gonna
get a chance to meet them at East Denver
so I'm looking forward to that um
at least up to this point
and there is one that I'm looking forward to
I don't know if I'll get a chance to
get it earlier you know be able to afford it
when it pops off you know probably
my challenge with 404s is
I actually care about the NFT
exploring you know liquidity and
financialization or do people actually
care about the underlying asset
so Palette is the one that I was referring to
because that's you know supposed to be
Gen Art and I feel like that
will be a good kind of barometer
really considering the art
just trying to kind of like
medium you know a new meta
you know the price of the token
hear you on that and I like I think
what we've seen up to this point
it's 100% just speculating
I agree with you I think Palette
will be an interesting one to watch and I think
and there's like different rarities and like
the way that they do the re-roll and that kind of
stuff has changed and like teams
build with like really good art
it's like what if you bought
MOG at the beginning and you had a lot of MOG and if you
only held a certain amount
like you had a PFP right and like
that would simplify that you're an OG
so like people would care about it
PFPs came out after Pepe popped
off right like everyone wanted to
nicely grift off of the frog
if there had actually been something within Pepe
coin that was attached to a PFP
you know at the time I said
well it's obviously already too late to
kind of like format it where it was
like a 404 but they could have done like
a burn Pepe you know and received
this because what I like so
relationship between tokens and
NFTs and this is why I think 404
is not everyone can afford the NFT
is it creates this layer of
your reach which limits you know
the brand that they want to develop whatever
if you have the ability like you just said
to have you know kind of like
the ones that are willing to be that
convicted that they want to pay enough
that's awesome but then you can still have people
that can speculate on you know
the project or the community
based off of you know five ten
dollars if they wanted to
it just feels a lot more inclusive
if you never had to sell Bitcoin
to buy Sprottos right you had to sell
Bitcoin get east buy Sprottos like
if you just bought more Bitcoin and
got a Sprotto like that's
much more interesting in my opinion
that math maths to me man
where you can have you know
exposed to the price but if you want
to be part of the quote unquote community you have
to buy X amount I think that's kind of cool
which a lot of people love to do
anyway like we like love to talk about how
much of a certain asset we have
like I was just talking with people
earlier today about Pixel which
god bless Pixel that thing is on a hell of a run
talk about Pixel and they're like
oh how much you have oh how much do you have
that's crazy how much you got for staking your seals
like and we'll just talk about
literally exactly how much
people have so people have this
oh it just feels like 404
is our native way of doing so
although one of the issues
and this is like one of the business
of people at least as of late have looked at NFTs
and they're like oh they're a great
they're a great mechanism for then later
distributing coins right so like
for example everyone's looking at the pudgies and they're like
when's the pudgy token so everyone's
bullish on the pudgies themselves but they also think
that this ancillary token is going to come out
but like you're not going to
you're not going to launch another fungible when you already have
a fungible like I mean well
I say that but I've gotten I've
been involved in projects that have done that none
of them have gone well but they did that
all that in the last bull but it's
just something that's on my mind I
approach that and and think
about that going forward I don't
know if you had anything you don't have to speak on that
specifically I was just kind of rambling
some of my thought process but dude what's up
I think one thing that's really interesting
on Solano they're called SPL22s
and there's probably some which is that was
crazy how quickly that came about by the way
it was like lightning fast
actually I could talk about that part a little bit
one thing that potentially could
be really good about this whole thing
is that like it kind of creates
I mean for founders because
you know when like right now
all the top like blue chips and like
most NFT collections in general they have a
token right they have the NFT
that they have to worry about the poor price of
and they also have to worry about the poor price
of like the fungible token
those two directly correlate
but it's like the correlation is even closer
saying that incorrectly but yeah
that's something that I thought was
I don't know if Mason or anyone
because we're like three weeks into this
you know like the last time
that there was something that I thought could be
English is literally going to
crucify me when I say this but
the last time that there was something that happened
that I felt could be a mega shift
in how people appreciate, use, and work with NFTs
zero conviction in large part because
ZKShark himself had outwardly
dismiss them entirely and actually
I think my first ordinal was like a
like top hundred thousand mint
in terms of how people can work with these things
it does feel like that and with ordinals
it takes time for good teams to build up
have a project sitting around
and then a new standard comes out
and you're like okay I'm ready to go and it's like an amazing
you're going to have these quick narrative
chases at the start where tokens are going to go
down and then eventually you'll find the good ones
yeah, that's kind of where I'm at
I don't know if I have many predictions on it
I think it'll work but I think it's going to be one of those things
where it's like the reason why it worked
is because someone did something smart with it
a quality collection with it
rather than like it just works because it's great
the technology to innately be amazing
it's hard for me to explain
but dude when some people
are dog shit it's like yeah 99% of them are dog shit
because most people build things that aren't worth building
but every now and then something
it's hard to tell right now it's fairly early
anyway for now I'm just going to hold on that
I'm going to talk, I want to move
into the yuga conversation
I really want to just take a second
and I want to point to my good friend
with a punk, hello Reesang
what's it called exactly?
I think that a lot of people kind of have
they work a full time job
and then part time they're doing a million things
that things are sort of in line
sustainable for me at least
and it takes less pressure
yeah you're going to undersell the position
that you got, it's one of the
dude you spent money on the
the entity that you were involved with
spent money on the Pixelmon
Reesang works with those guys
the guys that help bring that to life
Reesang if it doesn't print I'm going to
number one rule of space is whenever
you work for a company you're the only one on space
you are now the founder of that company
let's fucking go I just became Udi
I'm sorry you're taking the hit but
I mean I invested in Pixelmon as well it's one of the only
I mean I'm biased because I put money on it
which by the way speaking
of fucking pre-sales you guys have seen
I hope that's the right number
there wasn't that much information and I'm super
right curved so I remember asking people for
and the team didn't give it to me and I thought
but luckily I had another friend who was like a huge
and his bullishness is the reason why
pre-sale number that we see
now on like Wales market or
wait so does that mean that
hold on hold on is she up 20 are you 20X
yeah but hold on first of all
my only question because I've
a fuck anymore but my only question
do you think on Wales market
that volume is correct because it looked like
100 something thousand and volume at
and I think that that's everyone
obviously on the timeline is bullish and I think that
personally I was saying to a friend
I was like some people should sell into this
if I could sell I would be
okay okay well yeah but I don't
I don't have any allocation
Jonah that's what I'm saying
I didn't put any money into this
because I was so thoroughly annoyed
at it and I didn't have you know whatever
but I guess that you know that's like kind of the
like it's a painful lesson
to just watch that print and your sideline
but I'll be honest with you I think
that there's a lot more like I think
been looking at and from some of the things I'm hearing
over the course of the last
and we'll call it that in a sense and they're not even
like a shadowy cabal thing
it's just like you shoot a message and you get access to it
it's not actually that restricted
and I've heard of some really good rounds
just starting for some people
like I think that this is going to do great
I wouldn't be shocked if we're looking at like
accessible for a lot of people
over the course of the next year and a half
like I wouldn't be shocked if just like
numbers start going insane
just one short thing I think that
there's a lot of deal flow and so
obviously with capital like your capital
comfortable with where you put your money
and kind of step heavy when you have conviction
but from a deal flow perspective
and Jonah will agree like
there's just a lot coming to the market
kind of just play on the sideline
until you see something you really like
who are going to FOMO they're seeing like
several things this week pump like crazy
when everyone over FOMO's you think
like takes them off the table
like I just think you should have
your money in Bitcoin and ETH
especially ETH right now it feels
like because there's no ETF yet and now
that you see the amount of inflows on Bitcoin
like remember everyone was like
oh it's not priced in and then
like two weeks and it was like well I guess it was
now the floodgates have opened
and they were like well I guess it wasn't priced in
ETH with an ETF before maybe would have gone
to like I don't know maximum
but now that they see how much money is coming into Ethereum
10,000 seems unreasonable
10 to 15 within a few years
I was like hmm 10k doesn't actually sound that
impossible now and then like
you know so and there's dude there's so many
on the game side dude there's so
now I'm looking at it like the dumber
it is the more interested I am
so we'll see how that goes
Manny also just so you know
we don't do hands on the stage you could just hop in
well dude my bad I forgot
I was in this part of the internet dude
oh yeah welcome to welcome welcome
those are the ground rules
dude what was it there was dude that
blast on lock is going to be pretty nuts
like once all of that happens
yeah I'm just pre-positioning myself
in all the ordinals I want so then I
can sell them to all the people who've got all these
blast games at the top and then
I'm going to dip I think that's
waiting for the halving like
dumping all the R6 right before the halving
I think is something I'm interested
on there it's called Omni
something they have like some
token on base or something and it's like
sub one million market cap and
right now I'm just trying to retweet it
so those are like some pretty early
plays I'm still looking at
judicious with your money but
with your money over the course of the
next few years you're going to
to think that some of these opportunities
if like even just marginally
on the game stuff I'll tell you what I think
it was about a month ago but now I'm just gonna
I'm gonna be in public too
effectively these are all meme coins
like anything that's a gaming coin is also a meme
act just like meme coins too
where they rise through like
total emotion or they see
a video or they see some whatever shit
most of them will die right after
that so like they're just easy to buy
and they keep going up and up and up like
you know one of your favorite meme coins
what happens is one of those game coins
then becomes a layer 2 token
because that's the only path
upward to grow the value of that
token because you have a game
token game still needs to find users
token keeps going up and up and up
all of a sudden you now have a lot of treasury
to go invest in other games you start investing
in other games you go well I guess we're not just
one game anymore now we have
to start I don't know parallel chain
or prime chain and now all of a sudden
anything that uses prime token
is now in the prime chain
and then the cycle is just going to repeat repeat and repeat
until it collapses because it won't
be good right it's house of cards
but there's a lot of money to be made before
those house of cards fall
dude can you stop airing out the portal
roadmap all right dude leave
also a lot of that liquidity
from oh it's not leaving it's actually
definitely staying for the next four months by the way
blast snipers and a couple of the other
really interesting projects that are coming up
that's why I gave you that suggestion when you
were asking me because I was like
it looks really good like
on blast looks really good
they just have a lot of technical
capital support for people that are
yeah I had um let me see if he's in the
audience he is actually that's so funny
I've had people start reaching out again
did you send that video in
but they actually they actually
they extended the deadline by the way
but now you're an early bird
did Greg respond to you yet?
um and I'm gonna keep it like fairly
mostly under wraps for now but like full disclosure
kitchen I suck at cooking
know anything about blast and so
I don't know what to invest in so I'm just gonna invest
in Eddie and assume that he does well
that's my entire strategy is that he knows
about blast that I'll just
cook through Eddie that's my plan
but doesn't Gabe have like
the theory that Eddie's never gonna make money
in anything? yeah but that but remember
I just said that my listen
alright I have two invest- alright this is gonna sound really
mean but it's I actually like I like Eddie a lot
as a friend so this is not meant to be mean
I have two theses for Eddie
his lack of like getting women
cause that anger that pent up male
cause that's what they are like look at Mark Zuckerberg
bro like he's just started learning to be
human like two quarters ago
and can get like alpha from other
lawyers about what's happening around Wall Street
plus the fact that I know nothing about blast
other than that it has a lot of money
I'm just gonna put my money in Eddie and hopefully it cooks
that's all I care about and then if I don't
Eddie doesn't have a problem
getting women, Eddie has a problem
okay Kiro we don't have to go down
all I'm saying is that his ability to
is very bullish for my bags
pretty good chance of going bald too
I know you're bullish on the whole ball too
oh dude I am so bullish on bald
founders like dude if your founder
if your founder has a lot of hair
you don't understand the less
hedonic pleasures a founder
has the more conviction they have because
I'm gonna shoot you a message right now
I want you to look at your phone
I just texted you something
what is your immediate reaction
what is your immediate reaction to that text
I don't know if that's a good idea
that way I wouldn't do that shit
wait Jonah does Sartoshi count as a bald
I don't know what Sartoshi
he looks like a stick figure
oh yeah they're bullish for sure
automatically like maybe don't invest
look at the deck immediately if you know
honestly if I had a crazy
amount of money I would start bald LP
let's just be clear on something
I said you had a good chance
like my grandpa did eventually
go at least partially bald
but like for a while my dad is
still like it has good hair
okay my dad's like almost
Jonah no hedonistic pleasures
personally you guys do not
want to know some of the people that
were requesting during that conversation
I say we vote as a community
I texted that person that was requesting
do me a favor and just doing some rotation
of the stage and what not
if you guys want to do me a favor
bottom right purple button
hit the like and retweet if you're liking the space
you don't have to but thank you
if you choose to do so oh hold on
Mr. Arabic account that was requesting
please re-request it I wanted to get you back up
I just didn't get a chance to stop
oh 9 times out of 10 you're gonna say it's like fucking genetic
that like their hairline is receding
it's fucking true I'm sorry
you know she'll love you for you
oh dude the one thing man like I have to shave
every morning or it's a problem
imagine being bald and not having
facial hair first off that's 100x founder
dude basically I'm looking for
I'm looking for the Coinbase guy
I'm looking for him like any
founder that's like him 100%
well you can't have your fucking cake and eat it
okay you either have a good beard
or bald head or fucking amazing hair
dude someone who looks like
a hairless cat it's a print
dude you're so obsessed with that group
yeah because he's like one of the best
oh I know I know but dude you're like
a fangirl it's like you're Leonardo DiCaprio
that is true I do fangirl
sometimes but it's whatever
what else were we getting at we were getting at something
that was useful now I'm blanking
we were talking about well one
yeah so that's what we were talking about
but what I actually wanted to talk about for a second
because eventually we'll touch on Yuga
but what I wanted to talk about as well
is that there's like a greater point there
so Jonah I'm gonna toss you
in a sec but like effectively
and some of the stuff that Jonas talked about
was like he is done flooding
it is hard to be negative
on price action in this space
going forward for like the next
two years because things look so
strong things are likely going to
be extremely strong like that's just
very likely to happen and for example
man like I am not bullish on what
happened between Yuga and Moonbirds
I don't love that we'll get to that later
I don't think that that's great
and I don't think it's good for either company
I think the prices of both assets are gonna go up
not even regardless of that
regardless of this mixing
just like I am bearish on Moonbirds
I would be wrong about the apes
and I would be wrong about the Moonbirds
I'm fairly confident that those things are also
I don't think they're necessarily gonna beat the market
I don't think they're necessarily gonna be the best ones going up
but I think they're gonna go up
you can be bearish on everything that they do
you could think that they're stupid
and every action that they've taken has been wrong
and you're not also cognizant
of like these things trade
very differently than all the things
that you've just said, like you might be completely right
you're gonna be wrong on the price
there are gonna be days and many days
especially in an overall bullish market
where you're just gonna be wrong
and you're gonna have said like
here's a laundry list of things that they do wrong
and the price will be going right
and like, Jonah, I know that you said
that you want to get away from the flooding phase
or the hall monitor phase
I think it's probably the right move
briefly while I get through it
I don't get any award for it
I really like the stock market
I like reading it, I like reading the reports
you know, like I did very well
on Nvidia, that's something I
not that like, that's some celebration
but I was pretty early to that, right
and everyone thinks like me
they're like, oh, the sales are bad
oh, you know, like, this is not going well
or that's not going well, so it must be going lower
is not actually good for this
in this space, long story short
curve is I guess where you need to be
because no matter how right curve you are
but being right curve is knowing that everyone else is
left curve, so to be a right curve
you also have to be a fucking left curve
so left curve, like, the dumb people
and I get nothing for it, so
I'll just focus on the making money part
I mean, I was doing that anyway
but I just won't publicly talk about things I hate
I'll just talk about things I think are
more interesting opportunities
honestly man, I think that's how you end up
also just like, you know, philosophically
just to be honest, like, if you
excuse me, if you were consistently focusing
on a bunch of the negatives, like
there are things that are
outwardly and privately negative that happen
with a lot of these companies, like, especially if you're
in a position where you've been around long enough and you
know a bunch of these people, some of the things that go on
in the back end are so absurdly
disgustingly bad, you're like
how does this industry have legs
increasing drives more attention
through more attention has like more innovation
and whatever, it's just like, it's a cycle
that feeds itself towards betterment
and I guess it's just like
market, or even just during like a
neutral market, is one of
the most depressing places
to be, and you don't, like there's nothing
to be gained off of it, so there
even on the things that I don't like, like for example
when I was talking about Yuga
Yuga yesterday or the day before
well actually both days, cause whatever
I felt like I personally had to preface things where I was
like yeah, you know what, don't
love this move, don't love
what Yuga's doing, don't love what Moonbirds
are doing, but I would be remiss to
be like, yeah this price is gonna
go down, I don't think so, I think the
even if it doesn't beat out
the market, at the end of the day, the number's gonna go up
and I would be wrong, and I would be stupid
if I said that the price was gonna go down
I don't know if people remember
but I was an alpha caller
a year and a half, or two
years ago I think at this point
and the first six months, like I
was a lot of rugs at the time, and
on one side, you get a lot of attention
because you're right, like
at the end of the day you're right, but
the process is pretty hard, because
you're funding a lot of people's bags
and last year I kind of took
a stance of being more peaceful
and also just rep-wise I wasn't
alone, I was at underground, I can't
I can't really talk things
or else it would look bad
from a reputational standpoint
projects still have problems, and
you can have that opinion, but
there are better ways to go about it
instant, even though they probably
it's still, there just are ways
to go about it that I think that
it's still important to call people out
especially if they're, if
in harm's way, but I think that
in general everyone wants to make money, and as long as
you're not unethical about it, and
things are transparent, there's obviously
a lot of insider trading, right, but
I don't know, I've taken sort of a chill pill
And I mean also I will say, one of the other things
is a lot of people will point at things,
they're like, honestly, so much
I just hope the price goes up, but
I will counterpoint that and be like
look, a lot of the things
massively, massively helpful
just stuff that most people
would consider either highly degenerate
example, if you look at Bitcoin,
Bitcoin's first primary use case
was the Silk Road, and that's
kind of where it got its initial
use. It's since transitioned significantly
probably would not have gotten off the ground
if not for being a primary
mechanism of transaction for drugs and
other illicit services. And then
even other things, like going back to
other things on the internet,
pornography was one of the single biggest
drivers of innovation on the internet,
people might find that distasteful when
you're talking about moving significant amounts of data
over the internet quickly, which is
a necessity for that, right?
It was actually one of the biggest
technological drivers of the internet.
So yes, while you might look at things in
crypto and be like, oh, all this gambling is just speculation,
there's no substance to it,
and you see a lot of people who are
will call it like they've effectively got
PTSD from trading over the past two years
or three years, whatever it is, or more.
those opinions, but those opinions
and that they don't take into
take into consideration the
greater perspective. We're like, yes,
a lot of this is speculation
or otherwise, you know, just
this is the type of activity that
ultimately, at least one would hope,
drives towards something useful.
You know one thing that, with what you said
as well, information asymmetry
is so real in this space, and this is
something I realize when I start working
with LiquidX last year from a venture
side, because as an alpha
caller, as a retail investor,
quote-unquote, like all of us here in this space,
when you ask teams for information,
they might have it, they just don't want to give it to you
because you don't matter to them.
So, you're just, you know, the
0.0001% that isn't even on their
cap stack, and they're leveraging
your numbers in terms of mint
from a venture side, just to show them that
hey, we minted this collection, it's at this floor
price, we have all these wheels on board, we have
all these influencers talking to us, and
you don't know that they're doing this. And this
is something that I realized, I was like, damn, like
these projects have the information that
I would make me comfortable
as a retail investor in buying their
NFT, but they're not letting me know, because
you know, to me, they're just, I'm just
money that they're after that ultimately
gives them a valuation, and those are also
the people that are going to have better terms than
context, just be really, really
careful with your money and where you put it, because
are not, like, everyone's protecting
their bags, and just because it's VC backed
doesn't mean that the project's actually
good, and you need to do a lot
more due diligence for you to
ultimately think that, you know, I'll still
make money when everyone else has left
what I will say is, like, the only
we'll call it that, is kind of
what you're talking about, Reece, where
it's more leaning towards opportunity
costs, right? Like, I might say,
so, for example, you know, talking
what I was talking about with you,
I think their price is going to go up,
but I think that they're one of the biggest opportunity
cost sinks in this space.
Like, I think buying a Moonbird is one of
the saddest ways that you could spend your money
and have it appreciate in NFTs.
You're going to be getting into something that that's
that, you know. But how high does it actually
appreciate, like, what's the actual return?
end for Moonbirds might be somewhere around, let's
say, like, four or five-eighths, which you're looking at it
now, and you're like, wow, they're at 1.8-eighths.
If they go to four or five-eighths, that's pretty damn great.
I would be pretty excited about that.
Except for the fact that that's like
a 2.5x in an industry where everything else
is going up, like 30 to 50x, right?
Like, you're talking about massive
effectively also false learnings, where you're like
It's all about opportunity costs.
It's tremendous. I will say that one part
makes this space pretty exciting.
Not that, like, I think anyone's going to make
the next Yuga, because I think it was just like
people forget, you know what made
Like, I've been around in
this space long enough to remember how they became that.
Which it's back, by the way.
Oh, that's news to me. I did not know that.
What do you mean it's back?
Well, I'll tell you right now.
It is effectively the flu.
No, no, no. Just really quick.
The reason why I say that is because like
everyone that I know, like five or six people
that have COVID, one of which lives in San
Diego, and they test, this is
going to sound grotesque, but they
because that's like the one place that you can get
very consistent readings as to how much COVID
is in the water, and it is at its highest
It's fascinating. Anyway.
Wait, what? Hold on. Let's just
move on from that part. So, like
I've been around this crypto
well, I've been, here we go,
this fucking resume bullshit. I've been in crypto since 2017
which is not actually like early.
Tops in boys. Let's pack it up.
Right, right. Alright. Anyway.
What I was saying is that
on Clubhouse were just starting.
Nobody left their fucking
house. Okay, like at that
time, if you lived in New York,
who's that guy, the fucking
Italian guy? Anyway, he would have cut
your head off if he saw you outside for more than five
minutes. Do you know how many people he killed
in nursing homes for the sake of
whatever he thought protecting the city?
We're more of a de Blasio.
had coke issues. This is the other one.
I don't think people realize
how fucked up COVID actually was.
sentenced to house arrest
were sentenced to house arrest for like
a year and a half. And we got
stimmies. Don't forget the stimmies.
Jonah, you're in Florida with me, dude.
We were on house arrest for three months before.
Whatever. I'm talking about most of the
people that was into NFTs. There weren't that many people
from Florida buying NFTs.
There was the fucking stimmies.
All I'm saying is there were people making
fucking monkey sounds on Clubhouse.
six months. So their brains
turned to mush. And they're like, well, we need
some sense of social interactions. We're all going to
fucking howl like monkeys on Clubhouse.
Do with like anything else other than that,
an every 100 year event happened
and it was right time, right place.
Nothing else beyond that.
it's well, Moon Pay is also
Like it was the perfect storm.
You had all the right people in the right
place at the right time. You know, the
market was still hot. And at the
same time, you had a once in every
lockdown happened where people
started going actually insane.
like, you know, it all happened.
It's where it all happened.
timing is often the most critical
part of launching a business.
are like, what do you mean? Yuka wasn't all that
innovative. I mean, I just, that's my opinion.
I don't find them the most innovative
companies. But that, again, just
my opinion. Don't crucify me.
And I kind of just look at it.
It was innovative, but it was innovative
because of like the world
it existed in at that time
on like an iPhone, I don't know what it was then,
on an iPhone 13 staring at a screen on
Clubhouse, which was like
there were people singing songs together like
on a phone app. Like, I don't think
people realized the amount of black mirror that
happened then. But we couldn't see it because we're
inside of it. But when you look back at it,
one of the most interesting social experiments
in the history of like recorded
like experiment. Honestly,
the amount of data that's going to come out of that is probably
Yeah, I mean, I hope it never happens for
at least another thousand years, but my
I'm a little bit more cynical than that
because of the global warming stuff. Yeah, no,
I think it's going to happen probably every 20 years or
10 years kind of thing now. But anyway,
I hope it happens immediately.
There are traders in this space who are praying for
20. They're like, bro, please bring the vibes
them at a fundamental level. I had
it was like two of the best years of my life.
Yo, I built a house gym and I fucking got like
super jacked while everyone was just getting fatter.
back to work. Everyone goes back to
work right after remote work ends and they're like,
people will do anything to not go back
to the office. That's by the way, that's a
whole other huge issue is like
corporate real estate right now.
Why does everyone act like that's the natural
state of man? Like skyscrapers have only
been around like a hundred fucking years and we're
just now they're irreplaceable.
You know what's interesting, Jonah? So, Jonah,
I actually won't say my relation, but I
know someone that's in private equity
they were like, yeah, so the
market around buildings has changed
drastically where the market
especially in, for example, San Francisco
where prices are depressed drastically
but the market around significant
and commercial buildings is
massively depressed across the
And if you want to know what that means,
buildings that used to be built in
San Francisco for $40 million, like it
cost $40 million to just put them
up in the ground, like not including
the land cost, just to put in
the girders and the concrete and the glass
Do you want to know something very crazy?
Hold on, I'll let you get to that, but
there's a second part to this. The other
side of things is the part
of real estate that's gone absolutely
bonkers over the course of the last
year and a half, two years, are
these warehouses that house
new age GPU units because
there is simply not enough processing power
the entire real estate investing world
away from residential, not residential
but commercial real estate
and looking more, or commercial
let's say commercial human real estate
and looking more towards commercial
digital real estate, digital
in a sense of like housing computers
because they're buying land in Sandbox
not in Sandbox, definitely
not in Sandbox, of all places
that might be the last. But that's what's happening
The commercial renting space
for offices in the cities
has absolutely fallen through the
for a new office at Shuffle at the moment
and we went and had a look at one in
Melbourne CBD. They offered
us the first six months for free
in crypto named John Ballitzky
and he does commercial real estate in New York
and, like, if you ever want to talk about that
get in touch with him, he really knows, he knows
all this stuff really, really well.
That's what's happening, that's just something that I've heard
they must have gotten it from a Black Mirror episode
they've already sunk in so much cost into building
these headquarters and stuff, right?
I mean, look at Apple Park
I'm sure if you go to Apple Park, whatever you call it
the giant UFO looking thing
there's probably not as many people there
as there was when they built it
and this is, alright, this is like some philosophical
would be like the shogunate
you could live on the office
property because they'll renovate
so I think we're going to the Chinese
model, because I think China does
parts of China do that, depending on
where you are at in China
where you eat, live and breathe where you work
because they're going to build residential units
that are basically like below
or on top of the actual office
I don't know what you would call it
your entire living space, and then they're going to build
and they're going to build these Chipotle parks
all around them, like one giant square
and that Jonah, what you just said
is happening at, so I come
from New Jersey, there's a mall
North Jersey, it's called like the
Wait, that's Boston, sorry
Yeah man, God bless Jersey
but there's a mall, it's called Garden State Plaza
and it's a pretty massive mall
and it's very uppity as well
and they are building around
the mall a massive living
and working space where you
will not, theoretically, not need
cars to just get around because you will live
so close to work that you could just
walk for five minutes and you're right there
like yes, this is exactly what you're saying
If you want to know where things are going, play Cyberpunk 2077
because it's actually disturbing
like the path that we're on
actually feels like, it feels
like the game's lore is coming to life
Listen man, just get a good ripper dock
You guys are from the Tri-State area
the real alpha was to own
Right now, you own a hotel in
New York City, you are making
You gotta fake your immigrants to earn
That's the new NFT project
500 hotel rooms, we can take
If we stake the immigrants for one year
I feel like if we go too far down that road
it will become an increasingly political space
It's horrible to say, obviously it's terrible
Which by the way, it was fascinating
I believe that this year was the single largest increase
in the population of the United States
fascinating, we'll call it fascinating
One part is good, but one part is bad
because all the American kids
so we're actually having a population crisis
That is actually true, by the way
Everyone's all upset about the
immigrants, but quite frankly these immigrants
might actually save our country because in like
30 years we're gonna have a low supply of children
Which I saw that there was a
South Korean company that was paying
their employees to have babies
Wait, why? They would work less
Wait, what company? I need a job
Let's go back to crypto, but there's some crazy
dystopian shit happening outside of crypto
What the fuck are we talking about?
Yeah, yeah, just to be clear
definitely diverged a little bit
I will say, understanding
collective, like, understanding
this collective state of the world is actually
pretty pertinent, and I say that because
of things like, I don't know, I'm
gonna talk about it again
Kat, like CL Kat from eGirl Capital
wrote something and I bring it up
and I bring it up again and again because it's
one of the best writings I've ever read
It's called the scam shitcoin supercycle
effectively the whole thing was like
the world is getting to a point where
it's harder and harder for more people to
quote unquote make it, especially as
people's earning power is not
increasing in turn, so living costs
it's just the whole thing, so everyone
is going to look for more and more
ways to effectively just gamble their way out
means things like crypto will do well, shitcoins
will do well, gambling will go up, and
some of this stuff might feel, but it is
all one ecosystem and man, I mean it's fascinating
signed up for a scam Australian Visa site
today, which was really funny by the way
the cat's gotta do what the cat's gotta
do again, I thought that was
tweets are just so unhinged, him and his
what else were we talking about?
We should probably talk E-girl, E-girl is probably
more interesting than Yuga
I'm always down to talk with E-girl, those
E-girls or E-girl capital
Jonah, I'm okay with both
have any idea why Loomdart
look good because it was very like
If anyone doesn't know by the way, E-girl capital
is probably one of the larger
crypto-native venture firms and they feel
more like a communal type
Did they fall you back yet? No, they didn't fall me
CL follows me, but just CL
Yeah, dude, there's like a whole cabal of bald people
You know there's a cabal of people that are bread
or bread-named, they call themselves the
carb cabal, I swear to God
CL has a full head of hair by the way
Most bald people own hotels too, you know
they're in the right business
I'm sorry, I saw you on muted for a second
Yeah, I was just going to recommend
I think Jonah knows about it
I don't think Kiro would be a good
I don't think Kiro would be a good
I don't know if Arasaka is the right thing
In the game Cyberpunk 2077
there's a megacorp called Arasaka
the potential key to eternal life
and that's where the story takes off
I am doing some rotation of the stage
No stress one way or another
There are some people I wanted to bring in
because I thought they'd just be hilarious
Sup Jesse, nice to meet you man
Oh man, here, let's just do a quick little
reset as we just take a breather for a second
What's up guys, welcome, this is Overexposed
I run this puppy every Sunday
except for Sundays where we're doing things like
I don't know, the Super Bowl or New Year's
Eastern for roughly 2 to 3 hours
depending on the night, so that's what we do on Sundays
Oh by the way, sorry, I always host this with English
Legend, take a look at him
If you're on this stage by the way
I'm waiting for you to get back
Yeah English, you don't respond to me bro
Well start responding to him, other than that
every Tuesday through Saturday talking about
Alpha all day every day basically
Well not every day except for Mondays and Sundays
but we got them covered on Sundays
and they run from roughly
to roughly 2 pm Eastern, so if you're interested
check them out, they're goats
Expresso in Chief, Legends, actually been
They don't get the appreciation
they deserve for how unbelievably
consistent they've been, it's pretty cool
we'll keep things rolling, oh and if you guys are enjoying
this, you know the deal, bottom right, purple button, likes
retweets go a long way, so thank you if you choose
to do so, and as for the stage
we kind of run things fairly loose, we can talk about
whatever, and you don't have to raise your hand
Anand, what's going on? Eddie, I think my DM
was really good bait, especially
to really challenge Jonah's new
meta to not fall, oh you know what
I'm going to ask you, yeah, you know what, let's do that
Jonah, what did you think of the close
As someone with a new personality
and I'm really a big fan of
shuffle-com, they've got a really good token coming
Adam, Adam, I'll give you a more animated response
Alright Adam, what did you think of the close?
So for context, the close
one of the collections that the Nakamigos have released
they launched a trailer, and I'll just
be honest with you, at least from my opinion
I was underwhelming to say the least, what's going on Adam
did you have an opinion on close?
I'm playing Cyberpunk right now
in Golden Sonarasaka, and I was like
holy shit, and then Jonah got excited
and then I was super excited
Dude, I love that game, it's amazing
Dude, I haven't played it since I came out
Dude, they picked it, it's really good now
I'm totally quiet because I'm downloading it
and I'm going to disappear into it, I know it
It doesn't crash anymore, Adam
Before you guys leave, can you guys download
Helldivers 2, because I'm going to need a squad when they
Adam, the game doesn't crash anymore
I also bought it when it first came out, and it crashed
literally every two hours
and then didn't save anything, it was
when I first played it, my bugs
weren't game changing, so I
really enjoyed it, and now I'm like
replaying it, and I don't even remember
half of this shit, and it's a lot of fun
The DLC is worth buying, by the way
Oh, I bought that shit the day it came out
and that was like months ago
If you have a PC or PlayStation 5
crazy right now, it's going so crazy that I
actually can't play it, because they can't
pay for servers fast enough
There's like 400,000 people
playing concurrently right now
and they have to go, dude, I think it's like
original IP hit, in probably
like 5 or 6 years, it's insane
Do you know that, what's that one
movie from the 80's where like, I'm doing my part
an homage to Starship Troopers
basically you play for Super Earth
and you fight for democracy
and by doing that you basically go to other
people's worlds, like these bug worlds
and these robot worlds, and just blow up everything
With that said, a couple of
You know, it's funny, the Nakamigos
and ticker Bitcoin were both shilled in the
most recent people every day
Is there a Nakamigo in every Beeple
or is that... Yeah, I know
Yeah, basically, it's a little weird
was sitting there, he's like, I'm gonna make
I don't doubt it for a moment
You guys gotta sell those Nakamigos
Speaking of interesting things
Okay, sorry, sorry, sorry
You're literally destroying
high top culture in a single release
How much did he raise and did it cover his
He's trying to cover his... Dude, he lost 400 million
dollars, you need to sell a lot more shoes
He's probably gonna do more
Dude, we're getting hats, we're
I'm telling you, he's gonna
look at all of the merchandise and be like, man, those
he's made a lot of money, we need to get more of that
Aren't they ripoffs of Jordan 1's?
So he could open himself up to Nike
Which would make those shoes more valuable
They need to be on the resale market
It's like the mischief of Nike
He probably is betting on getting sued and then putting them on StockX
He probably bought his own supply
So, what I wanted to ask is
All due respect to you, is there anything
that has you upset today?
Because that's, honestly, I kind of
love it when you're upset about something
I'm gonna take that as like a maybe
I brought him up, he's a part of the bald VC
Alright, we'll get back to Jesse at some point
because honestly, I just, I wanna
Oh my god, the Kanye shoe
Did I just say Kanye shoes? Because I was thinking about
The Kanye commercial was hilarious
by the way, for the Super Bowl
Which we didn't talk about, like one of the
Probably the oldest version
like go to Yeezy.com, that was great
now we've got other shoes
selling these golden ones
I think they're kind of cool
Like I was wondering what I would wear them with
I think cool and what you made $19 million
Which was really good, it was like
And he sold you guys slippers
Hold on, there's an actual
Twitter video that's gone viral, they're like
look at this poor ass white guy buying Trump shoes
Everyone went to go look up who he was
He's worth like $200 million
He owns like a massive jewelry and watch company
And they're all clowning him like he's some poor guy
who's just a Trump follower
The dude is like a massive
Anyway, did you just say that
like we criticized moonbirds for socks
but we'll buy Trump shoes?
Sounds like the moonbirds need to make some shoes
How do you have socks without shoes?
Dude, they can't sell out the Gucci necklaces
Honestly man, I am so out on like
I'm so out on the moonbirds
Wait no, but Yuga Labs is the next LVMH
commentary piece by the way
It's not fun on Yuga directly
But why do we think this is the next LVMH
Because they are buying companies
founder of LVMH's son is like
Which was so funny by the way
Dude, he sold it like above floor price
It came with the Tiffany Pendant as well
Guys, we can discuss the Tiffany
I'm having a stroke explaining how much
money it has because it's actually hard to calculate
that he's like, I don't know what the
market cap of ETH is today
But there was a time where it is
Hold on, Jonah, Jonah, Jonah, not everyone knows what you're talking about
Okay, you know how you talk about it
Explain it, no no, I don't know his
actual relation, so explain his actual relation
Okay, if you don't know that's Louis Vuitton and like
other brands, like any luxury brand
that you thought of, they probably own it
and they're the wealthiest family in all of Europe
and most of the world, I think they're
They're worth more than Elon Musk
He has, I think he has several sons
but this son in particular
is beginning his name, by the way
How is it, dude, he won the god lottery
and I'm not even gay, but that's a handsome man
That's bullshit, but anyway, he's
tall and handsome and rich, it's
what it's like crazy rich Asians
but in France or something
which is of course another company
owned by LVMH, like the sons usually run
and he did the partnership, he's the one
I think he's the orchestrator of the idea of
punks getting a Tiffany pendant
if you had a punk you could claim one
and over the last few weeks
his punk, and he did a post
which I think was deleted now, I think
it's deleted, I have to go look
but it was basically like, come on guys, it's such a good deal
throwing a pendant in there
if he took all the wealth
that his family had and put it into ETH
he would have, what would it be
I have to look at the market cap now
wouldn't be shocked if it was like a third
period, that's how much money
this guy has, so it's just crazy
some things about why he did it
I don't think I can publicly talk about it
shocked, to say the least
that that sold for double the floor
people were like, he posted it
and was like, oh yeah, so this thing
is a good deal man, and no
all the comments were, no, that's actually
worth double, you listed a double
what the actual valuation of that NFT is
and yes, part of it is through
feel like someone probably bought it to be like
hey, we should be friends, man
you know what, this narrative kills
this kills one narrative, remember
during the last cycle, everyone was like
do you imagine like, fucking
Barry Bonds owns this NFT
and owns this trade, and because he owned it
now it's going to be worth more
bro, if the son of the richest family
on the face of this earth can only appreciate
that narrative does not matter
I think it's like a venture
capital firm, it's, I don't
think he did it for clout, I think he just
was it a floor punk, or did it have any like
it was not that far from a floor
yeah, but that's not that far from a floor, that's probably like a 20-30%
3D glasses are very hard to get
punk, I will say, but I don't know if it's
not as rare as the VR headset
it also shows that getting rare
NFTs in any collection might not
matter at all, just buy the floor at anything
which is why a 404 is interesting
the floor unless I absolutely love something
you like how I tied that all back to your core thing
but I think there's select traits that will
if we look at punks, there's things like
that's something that like cultivates over time
it's very rare that that happens
actually a mark of a good collection
if you could see sub-trait
we'll call them sub-trait groups
a pretty remarkably bullish
fucking flawed, there's very few
on my shoulder was the first rare
NFT that I bought, intentionally buying
it rare just because I liked it
premium wasn't that high, I paid an ETH for it
because it has this goldfish chain
and I just, regardless of whatever you think
I like it, so that was just
it also leads me to believe that some of these earlier
projects that wanted to do
trade swapping marketplaces actually were
Kanpai was very smart because
and it just matters about being in the
club, then just put whatever traits
you wanted at any point in time
going to work on price, but if rares don't
matter, then why should they be static?
gold versus a normal skin
or an ape versus a normal punk
I could agree to that, like base layers can
that's what community on it
kind of floor manipulation that I've heard of
and the bow-tied movement
and that was a long time ago
it was like March of 2021 I want to say
I think 8 ETH or some shit
the hash masks were actually at the time
maybe 1 or 2 ETH or something
so what happened is they bought up all the clown masks
and the clown masks were not even rare
so the point is to have more people
buy them, so they didn't choose a rare trait
but they were making fun of banks
so you can name hash masks on chains
so then people would buy them, name them after a bank
and they would go into this website
anti-bank movement created
so you would buy it, it would be part of this custom site
you would be on it with your hash mask
it would be named on chain and then they did a
Times Square like whole exhibit
in March taking over all the screens
with clown masks, so it was like a big
clown hash masks at the time
when the floor was like at least
and this wasn't even a rare trait, so community
and utility around a trait
is a big thing, not just notoriety
and it's like the knee cubs
on malady and also, you know what's
an interesting one, and actually this is something
I want to make sure that I comment on for today
because it's been absurd and it's
amazing that it's flying under the radar
they have the female traits and the female
traits consistently trade at like actually
fairly significant premium
I want to say like 30 to 50
before you share this alpha, did you already make a purchase?
you're giving this out for free then, okay
that I was mentioning and
you know, you guys can act on it or not
it's a pretty expensive move
dude, honestly my thesis on
mad lads has gone so strong
like I don't know if anyone's been watching
what is it because of the CX like
yeah, so if anyone's watching
do you think they're going to do a token drop
because they're in Dubai?
yes, 100% they're going to do a token drop
it is almost definitely going to happen
so if anyone's watching right, so
launched mad lads, brilliant guy
for anyone that isn't aware
and from what I've seen people say
and what I've heard and read and whatnot
people are looking at spinning it back up
because the tech was so good
and apparently the guy who
built that tech was Armani
today is building out his own
and that's ongoing, that's an ongoing process
they are now in pre-season
beginning to incentivize people to use
effectively a point system
outperforming Binance Volume
significantly more volume
backpack on certain pairs
I'm dead serious, it's like 3X
it's like 2-3X is happening today
it's not on like, in fairness
Binance has like, you know, dozens if not
hundreds of pairs and this is focusing
on a handful of pairs because it's
like during beta, I think it's like
sole, sole USDC or something like that
I need to go make some calls
right now, it's actually absurd
the level of performance that they're doing
and it's staying up, the exchange is staying up
it's still running, it's still working
and I'll just be honest with you man
I think this guy might actually deliver
just to be clear, I'm not saying he's making
the next Binance today, maybe
who knows, not saying that's on the table
if he delivers an even marginally
decent CEX, which it seems
like is happening, that's massive
and that's among other things they're doing
they also culturally have this massive fit
with the MadLads, where they just are
freaking cool, like Jakey is a cool
dude, I want to talk to him more, like that guy's awesome
a lot of the other creators that they have
there are pretty damn cool, across
the board, the MadLads are freaking awesome
they're awesome looking PFPs
their community is real, they get
airdrops out the Wazoo, like dude
they're getting the wormhole airdrop and that thing is probably
going to be worth, right now estimates have it
at like $7,000 to $8,000 per
MadLad, which I'm getting the
I think it's like $18,000 or $19,000
I am, I'm like, I'm looking
at what's happening, and if we're
bullish, if we're bullish
toys with the penguins, which I, by the way
am very bullish with the penguins, I think
they're going to do great, if we're bullish
not similarly bullish on what appears
to be a remarkably powerful
crypto level founder and Armani
and Tristan and that team
I don't know, man, but if you
off of that, you know, save
want more, I only have one, I think I want to
try and get like two more
because, I don't know, man
MTX was a fantastic platform
dude, if they just let that thing cook
it would have done so well, Naveen, sorry
you know, I, full disclosure
have a strong relationship with Tristan
over there, so I think they're
definitely doing amazing, amazing things
the one thing I'll say is that
I'll just remind you that like
doing that, you know, so we
lionize things like TVL, we
lionize things like trading
easy to game, like, it's not
oh, this person has a lot of followers
you know, like, you know, we
all see these accounts on Twitter where they have
you know, 500,000 followers
tweet something they get like 30 likes
and you're like wait, what the fuck is going on
and then something clicks, we're like
oh yeah, they probably bought those followers
of the metrics in this industry
and we just have like a bad
habit of falling into the
same trap over and over and over
and over again, and I'm not saying that like
the volumes and backpack aren't real
I've not done any analysis or anything
I'm just saying that the metric itself
and so I think we need to like look at
like, I wish they would say
you know, like, net deposits
or like, I don't know, something else
like that, all those things are like not
great either, I'm not saying they're
you know, you get my point, like
that's a serious problem in our industry
was yelling about this with Wizard of Soho
just the other week, like, yes
overplayed to the nth degree in this
industry, almost more than any others
in part because it just, it does a
very good job of tricking
into thinking that something is vastly better than it is
a billion dollars of volume, still
a billion dollars of volume
Eddie, you're falling in the trap again
Eddie, come on dude, come on
billion dollars in volume by just like
trading back and forth between the two wallets
you can't leave Naveen, we're all
I mean like, Eddie, you gotta stop
promoting the fucking vanity metrics, bro
talk about the buy, talk about the buy
even performance wise, cause if you looked at their order flows
it was pretty heavy, like pretty heavy
requirements, on just like the back end
I would say at least from that perspective
I'm not saying anything, I don't know shit
if you wanted to simulate that
you could literally have like
just like moving the same thing back and forth
and simulate that, and yes
the technology is great, like I'm
all for what they're building
I think those guys are fucking stars to be
very clear, I'm just making the
general point that we keep
falling down the same fucking trap
of looking at these metrics
because, you know, and I understand there's
not a lot of metrics to go on otherwise
So then if not those, then what?
it's on us to kind of like
because otherwise, if you
just go on what is presented, obviously
any founder is always going to present
the thing that makes them look the best
but we all know in this industry
that this is like a problem, like this is a problem
are not necessarily the best metrics
the success of a thing, because the fact
of the matter is that the number of
in this industry that are like
actually on these, you know, DEXs
and whatever, it's like a really small number
like it's a super duper duper small number
and a lot, because people have so many wallets
there's so many bots, there's so much civil
attacking going on, because there's so many fucking
airdrops and so many points
that, you know, it's a no-brainer
to spin up like thousands of bots and
wallets if you know how to do that
just to play the game, right, that's kind of like a no-brainer
as a result of that, we have like this mirage
we believe there's so much more happening
than there's actually happening
and that's kind of cancerous in a way
because, you know, we kind of just get fooled
it's back to the old scams of
like, you know, someone would launch
an NFT project and what is the number
one thing we used to pay attention to when it was an
NFT drop, it's like, oh well how many
Twitter followers do you have?
Yeah, how many Twitter followers, oh how many Discord?
That's the only thing that's keeping the Ponzi
Anyone can look at, anyone can look at data
You've got to be able to evaluate, are the vibes
elite, or immaculate, that's where
Guys are all talking about
pains me, that notice you were talking about
No one said anything about it
That's what you're talking about, whether you know it or not
I'm assuming you're talking about that
Well nobody's talking about the
dragon bone, and I think that's
horrifying, and should be
Yeah, the penguins, they're Ponzi's
Jupa with Kavyats, read my review
Just came in with a machine gun
Bro, what do you mean I came in with a machine gun?
You've got a Taproot wizard, Ponzi, Penguin
I passed the fun baton to all of you, I am done
at Mr. Swindle's circus as well
We're going to take a pause here
Not even going to contest you
fair, we'll do a better job
that was the Lord himself
unmuting you for a moment
We'll do a better job personally
and I get it, I know that you're
not criticizing him, if anyone
the mad guys are incredible
we'll do a better job of appreciating
when a metric is more of a vanity metric than not
As for the other conversation
we'll just temper that, we'll just
that implies, or at least
requires a level of respect
if we can't do that, we will have to rotate
and or remove people from the stage
and I meant that not sarcastically
Jesse, what's on your mind, and please
don't raise your hand again after that
I assume that's when you came here
bits, you know, play the hits here
of course, that's what we're here for
I mean, we got, first of all
the end cells have been out in rows
I should probably give my
and you have liked more than one Elon tweet
or ever tweeted about cancel culture
you might get butt hurt by whatever
we're doing some politics
I don't know if you heard Yuga
it was not received well, and I couldn't believe it
because it's such a diverse gender
equal community, I've been told
I couldn't believe it, that people were so mad
not that they weren't unqualified
just that they were girls, I was shocked
it's not why they were mad
they were buying off every single speaker
in web 3, so no one could talk shit
they haven't bought me yet, so not everyone
you burned that brick so hard and you know it
you didn't just sell your crypto punk
you had to sell your crypto punk
and put out a viral tweet
that was calling the community anti-semitic
of course they're not going to invite you
I stand by it, what's the problem
he had too much ketamine, have you been macro dosing again, MB?
no, when Jonah sold his AP
you don't macro dose, you micro dose
well at the time they had a
anti-semitic fire at the company
which was not, someone who was not
so Jonah sold his crypto punk
and it was digital blackface, but
mostly because it was anti-semitic
I didn't wear it on twitter 1, 2
how do you suggest we do here?
how do you suggest we handle this?
right in the middle of the rider trial too
let's move the transition
I think Outer Lumen, I think I would go to Outer Lumen
we'll go to Outer Lumen, we'll do that
thanks English, I actually wanted to respond to this
oh that was the mute, sorry
I wanted to mention since we were talking
one thing that I'm finding interesting in my data
is the relationship between
a project success and the amount of derivatives
it has had, I guess for context
I've been doing some research on
3 years now and I'm working on a
coffee table look and I see a lot of
different patterns because I'm analyzing all
the data that I scraped and
obviously this is not a correlation
causation kind of thing but it is so fascinating
and be like wow, this is really interesting
how that is a fact thesis
yeah right, it's like wait maybe we should
just use that metric, how many derivatives
successful but obviously that's a
past metric rather than a future one
but anyway, when you were talking about
prediction so different than what we use
various data because trading volume matters to me for a completely
different level like I don't want
to necessarily include rug projects
in mine right so I look at trading volume
but like the lowest cut off of
trading volume because I want
to know which project came out with the trade first
even if it's a project that didn't do well
so I had to come up with a cut off that
makes sense for trading volume but absolutely meaningless
predicting anything else but yeah
it's been really fascinating so you
saying in coming up here and talking about
metrics made me think about
I'm not going to tell you
you've got to normalize coffee, not coffee table books
but dining room table but there's so many
other tables in a household
and I feel like we only designate
books to the coffee table
and it's just an idea for it to
untapped market to explore
you know the bitch of it is MB
I don't have a coffee table because I have a 130
pound Newfoundland dog and her tail
swipes everything off of one so there you go
goes and you're going with it
that dog is bigger than me and
I fucking love it. Do you wash it?
you know when you're looking at
have any confidentiality features
is actually pretty remarkable because
every single token is essentially
the activity of every single
wallet, you know how early someone
got into something or when they got out of it
I mean it's kind of remarkable actually
but the problem is it takes a lot
so if that's some of the work that you're doing
Otterloomin, kudos to you
because that's A, really fun
out there, the problem is
for people to really go in and
I would argue data quality issues too
that make it pretty challenging
like 200 pounds when wet too
you're going to kick me off the stage soon
but you know what, I am living for it
I am going to bounce you for now
I want you to, hold on just real quick
Enby, I like you, I want you to come
back around more often but for now
because obviously this derivative
doesn't even have to be web 3, it could be web 2
anytime people are copying you
or doing what you're doing
even if they're not CCO, projects that are
more permissive as opposed to projects
they crack down immediately
are you just kind of fooling around
I'm curious on this as well because
Punks used to be very open about this and
used to be derivative free
Punks and Aids are like, there's just a
there's so far ahead, I don't even know who's third
those two are so far out there because they didn't care
that's not the best question ever, I'm like so excited
might be Malady by the way
okay, so the answer is this
even though there is like
the shit's still on chain, right?
when the contract started
it's all still there, and I still can see it
and I have the data to it, so for me when I
look at derivatives, I'm including anything
even if it had like a formal takedown request
that's like the web 2 censorship
side of that, right? But because
it was minted, I can still see it unless
they were directly asked to burn it
which I've not yet, at least
somebody tell me if there was a whole project
burned because of a takedown
request, which is like the most amazing
point to all of this, right? Like what does
that even mean? Take down from
from what? From existence?
Like how do you do that? Because even if you send it
to the burn wallet specifically talking about like
then it's there, it's all still there
things that are more on the
In particular, I'm coming
like there's not a lot of derivatives
of that project that are actually minted
lot of community artwork that
goes up around that project on
like a trackable sort of metric that
you're looking at, the social
so for this volume one, I'm actually just
looking at, like I'm really
interested in our cultural
reflection of digital identity
this is kind of like I guess the
first opener of this entire
thing is I'm talking about like
well when did the first PFP even
happen? Because like a long time
or then maybe you like phoned somebody
but you didn't necessarily need to
like there was an opportunity to be
in on unless it's like a pseudonym or maybe you phoned
a phone line but you still don't have
a digital visual presentation of yourself
when the internet happened maybe it was like
I don't know if I can Myspace or MSN
Messenger or somewhere and I
again this is like I'm still, this chapter
is still in the works like somewhere there
there is the first kind of like inkling
of having a picture represent you
kind of looking at that identity piece
like what did we choose to
it kind of ties into the punks of course
borrowed a lot of the traits from their
I was just going to mention the Androidify project
would be something to look into
that was very very early yeah
and I guess like video gamers as well
have always used the gamertag
I'm not too sure about the
people were still sort of on chat rooms
they were sort of giving you randomised
names there so I remember being on
chat rooms back in the 90s
right, everyone sort of had a randomised
name that you were given to by the chat room
flowed on there but that was kind of tied to that
one specific place, it wasn't something you carried
around like a traditional gamertag
that's really interesting the identity stuff
you will follow and keep track of that
no one else, everyone's just talking about social
media PFPs and like gamertags
I was like dude there was forums
and like really dark alleyways
especially in the old chat days
I think you mentioned it Fluke, if you logged in
and you just logged in as a guest and you would
get like a random user number
you know 694, 678, something like that
and then to know who you are people were like
oh ASL, ASL which is like
age sex location or something like that
later down the road I think the first time
little like user name which was
Ruto back in like, I was like on a
or something like that in like
along those lines, I remember I set up Ruto
on Neopets and that was like
max yeah actually personally
see that's solid too dude, that works out
those are alphanumeric though right, like I think
where was the first MSN messenger was that like
98 or something or 99 cause that's
when you first chose like a visual
strangers cause tying this back to my
traits that's kind of where it
heads right like it's this idea of like well
when did we first adopt like a visual
anonymous or non-anonymous
identity but like some representation before
all of the like social media hit where it obviously
became like super prominent but that's
it and then like so then the
to me so with like tied back to what
Phuk was asking is like I'm
looking at this through the lens of data
with a lot of visual referencing so
the data grooming part has been the most
because trait nomenclature like
the naming of traits has been the
most fascinating cause phuking like some
of it is just pure art some of it is like some
person who is like fuck me I'm the traits
naming engineer for this project
okay I'm just gonna make some shit up
but a lot of it is like okay well
3D glasses love it but they're also
anaglyph glasses and Renga they're 2.5
fucking D that's also 3D glasses
but like so am I gonna be
perfect no but I'm hoping that the database
itself which I'll release after the book
and actually like you know get better
as you know obviously I'm bound to miss some things
and that's fine that's part of it but I have
7700 projects on book of work
it's actually a super cool idea how much is
do you have the price out I'd buy that book
it's it's coming it's coming soon I gotta think
about it it's two thousand dollars
to buying the book listen
12 and you get a minute if
project that gives me a book
the reason why I want to do a project
mainly is because I want to create
because I'm fucking bored of
traits in a way like things
come out and people are like this is really new
and I'm like no it's not like I'm
totally that person like what's
the line of like according to
my research that's literally me
fucking like so I'm always
I'm aware of it so you're the nerd
you're the nerd that everyone I'm expecting
a good couple of chapters on
certain countries this book is
I'm pre-booked by the way so if you really
want to get in early invest in me I'm pre-booked
what where's the white list on this book
I'm not that complicated I'm speaking at NFT NYC
this year and I'm gonna probably drop
I'll be crazy he's gonna do this
and it's gonna make a ton of money
and Simon & Schuster is gonna be like
what the fuck how the fuck
did she self-publish this and become
a New York Times bestseller
they're gonna find out that she dropped
and then there's gonna be a Web 3 division
of Simon & Schuster that Outer Lumen's gonna run
like she's gonna be like head of...
and then Gary V will come out and be like
yeah Gary V's like I was early
well this is the funny thing I have a colleague
who offered cause he's a friend
and he's like you know we can go like
MIT Press on this and I'm like
I don't want to go MIT Press
on this like I know it's gonna
go to more people that way and all of that
like come on I want it to be
DJEN like I want it to be Web 3
I don't want it to be MIT fucking
Press like it's a you know
maybe later maybe volume 2
the title of the book should be this book will make
you rich and it's like the ultimate
I love it, drone delivery only
is that selling securities
she sent you a bookmark in the
mail and the bookmark has a QR code
and you don't know when you're gonna get dropped
it's basically a loot box from like
oh yeah I love gambling at Barnes
we have a Starbucks at Sky Casino
kick Jesse he did it again
let's just kick him, I don't want it here
so what you're saying is if some of the pages
some private keys in there to some secret
shit just to have like a fucking
scavenger hunt you would be
legendary the first book to ever
what the hell is this thing
but different from Gary Vee because Gary Vee
his whole thing was about selling a bunch of books
your thing is a limited supply of
books that are so expensive
it's like a college textbook
and everyone at McGraw Hill is like
who is this genius how do we hire her
you know when you put a cipher in it that
turns out to be the discord
ever since I started this but I'm like I'm not
about that I don't know I just
this has been such an amazing passion project for me
that I'm just like I can't
wait to get this thing out but I'm also like
I'm like lost in the sauce
and I'm happy as fuck being lost
in all the sauce so like I can't yeah
I took like a bit of time off
and so I'm glad to be back and refocusing
on this but I don't know how this
space turned into me talking about the book but thanks
because we need something to gamble on and it's cool
I love it okay my book perfect
what is this and how do I gamble on it
that's what everyone thinks
that's a great innovation of three is we can turn
it's fucking great back to the Dean
right like it's all about the volume
actually true and by the way
it kind of went on to the radar
do you know that Aptos launched a phone this week
I think right it's like 120
whatever the manufacturer is is like so thankful
for crypto like it was some dying manufacturer
that was losing to Samsung and Apple
it's supposed to be a much more accessible
Southeast Asia like that's the idea
that's the best place to get gamblers
that sounds like a cover for a failing
a business that was already failing now we have to rebrand it
or something woke but okay keep going
I'm just telling you that people know
people have been digitally paying in Nigeria with
M-Pesa and like literally a block
phone forever but go ahead continue
is that Aptos launched a phone
that's it's like 120 bucks
not as like a great product
but it's like this is exactly how you start
like we need some sort of web free phone
this one's going to be crappy they're going to learn
a bunch of stuff from it and then at some point it'll
did you go to school at the University of Michigan?
did you take nuclear physics?
no definitely not, not smart enough
my cousin teaches nuclear physics
the reason I raised my hand is
I had three totally unrelated topics
I'm going to get to you Jesse I just will say
I'm going to go to Rare Evo
and then also I definitely at some point
I have to just give some thoughts on the Yuga
should I do that or should I do what's the
status of Gary Vee's wallet
because I think that's interesting because
no no no, does he have like 40
party degenerate, did he sell
anything to just save money
or is it like no I'll just keep it all so I keep my credibility
no but he bought so many of so many different things
with the idea that he was early and he was
going to like have all these assets
early, did he ever sell people, it's all public
did he ever sell anything?
much, no. I think he's still got a bunch
of punks, I don't think he's sold any punks
that doesn't count, yes obviously
I thought you were coming in with like some
hot alphas, like here's what he's doing
asked you if you're pocket watching
another man, that's crazy
that's true, that is exactly
what he asked, what else is on your mind Jesse
alright, you want to talk Yuga and
Moonbird? well first I want to talk
to Rarivo, see what's going on
because I'm sure that they had something that was on their mind
by the way, going to be there
we're getting to event season
if you guys are going to ETH Denver, be safe
have fun, go catch some skiing
I will not be at ETH Denver
which, you know, hell yeah baby
going skiing next month, it's going to be
pretty exciting, I'm going to Switzerland, I've never been
so if you are in Switzerland, or know someone, or have some tips
Switzerland, it's the only McDonald's in the
world that accepts crypto
that's funny, alright, if I can make it
that would be actually really funny, but otherwise
let me know, so if you've got a
Swiss friend, let's say hi
I do, I've been to Zurich
oh, DM me, what's going on
Hey, thanks for the shout out, I appreciate it, I just wanted to
first of all, I love the name Outer Lumen
and would love to hear more of how you came up with that
but I love the work you're doing
with the data, and the book
and the traits, and would love to
invite you to speak at Evo, so check your DMs
but, most importantly, I want to
and their founders, they have investment
they work with a lot of traditional
publishers, as well as publish
NFT books, and they have a rabid
dropping on Polygon, as well
as Cardano, and I think you guys would
get together really well, it would help your
sales, and like Eddie and
Jonah wanted to de-gen, then people could
for you, and you would receive revenue off that
in perpetuity. Or no, Cardano needs
something to speculate on
on Polygon, they're on Polygon
Did you guys see Hoskinson, by the way,
take a nice bath? Dude, he's
pulling a Joe Rogan, he's like, I gotta go
for the only way to get our
bro, he needs to go to the fucking gym
Dude, it doesn't translate if there's
Thank you, Rare Evo, for coming
I guess I'll just tell you, for anyone else
who doesn't know, I parked this
because my partner and I have our own
custom projection mapping software
we used to do a lot of VJing visuals
so my life was calculating
projection distances in lumens
to make sure a building will
write up properly versus a gallery
and they're audio responsive, so
we used to do a lot of that, and so I parked Outer Lumen
as the project name for that
but then pandemic happened
You are such a nerd, it's crazy
and I mean that as lovingly
Yeah, so that's why it's Outer Lumen
molecular biology nerd in me likes
it because the Lumen is the inside
of tissues for all the bio nerds out there
kind of thought it was an homage to both
became Outer Lumen, which Divine and I
was my partner, we always laugh about that
because I now respond to it, obviously
but it was supposed to be a VJ project
As long as you don't put it on
Cardano, you should be good
I'm gonna get into the Yuga thing
because we have to mention it
Toot, you got something for me?
Yeah, really quick, I remember when we were on the
TDA and Chief was like, I just made
a payment to Akuna Matata LLC
which is where we bought the Aptos
phone from, so food for thought
Dude, by the end of this fucking bull market
instead of having a hidden folder full of NFTs
we're just gonna have a bunch of shit blockchain phones
I bought five of these fucking things
First project to sell a VR headset
with an NFT is gonna be bullish
Bro, you bought five of the phones, you spent
Dude, I've spent more on fucking gas fees
If some asshole wants to pay me $300 or $400
above whatever the fucking price is
he could stick it up his ass, I'm not gonna say
you're gonna speculate on fucking airdrops
I love him, I love this guy
I came from Web2, bro, my traditional shit
sneakers and stuff, okay, so I'll do the same
thing if it means Web3 will give me that
opportunity, give me all the fucking money
especially MOG by the way, so
I don't know, yeah, that's just a show
Yeah, this guy right here
Alright, now that I am not
I'll just be straightforward, I think that
this was a disaster of an acquisition
top to bottom, I could not believe
the things that they were saying
I felt like the call and the discord afterwards
Man, I just didn't get it
I don't get it, I don't understand what
they're going for, I think it's
nonsensical, I think in a sense
glorious out where he didn't need one
the guys over at Yuga could be hoping for
out of this acquisition, I don't
know why you'd want to do this
I don't know why you'd want the headache
I think the community is one of
the most effectively mid-curve that there is
in this space, and I feel like if anything
this kind of solidifies many of the apes
this is a mistake, I feel like it's a tremendous
assets at this point in time
is one of the biggest opportunity costs
sinks that you could have
that they're going to go up
I think relative to the rest of the market
at best, I feel like you're
of other projects that look even
that will do vastly better
I can't believe what I've seen
Do we all agree, though, as a point of
first of all, we should have someone, maybe Jonah, talk about
cost discount in shares versus
blah blah blah, because that obviously is significant
You don't have to do it, but we need at least
a voice to do that, but do we all agree that the
like a no-brainer? Oh, yeah
Because dummies like Beanie that are like, oh, they
they inherited me-bits, I'm like, no one cares about
me-bits, they got fucking punks at like
So, you're basically saying that was good
but this is bad, so we all agree on that
I've said this before, it's like if the Lakers bought the Celtics
it would suck for the NBA, but it would still be a
no-brainer, right? Oh, yeah, for sure
I hate it that they're not their own thing
but from a Yuga perspective, they
Yeah, I mean, Jonah and I were talking
about this earlier, I think
this is like a straight up
usually when companies raise
the investors, you know, have
veto rights on acquisitions and
they may have had some sort of liquidation
preference, or, you know, who knows, like
we don't know what the rights were
that investors and proof had
where Yuga was like, alright, we
have, you know, ten open roles
like people that used to work at Proof
that know a lot about this industry
and we can just like hire them really
fast instead of, you know, spending
billows of money on expensive recruiters
wasting a bunch of time, you know, we
can just like hire these people really fast
the Moonbirds IP is already
CC0, so it's basically worthless
honestly, you know, comatose
you know, like, you know, I'm
That's a great word for it
Yeah, I'm one of the poor souls that, you know,
owns a proof pass, you know, rip
been to that Discord in like fucking
a year maybe, you know, like
look at it honestly as like a straight up
would have to be incredibly sweet
for anyone to want to acquire
I mean, a lot of people don't realize that when
no, like, conversation about the amount that was
paid, that means that the amount that was paid was zero
like a lot of people don't realize
like, that's like oftentimes
what happens, and it's just, you know, you're
soft landing for your people
because if you're a founder,
you know, you've got like this weight on your shoulders
you know, you employ a lot of people
you care deeply about them
you don't want to just like put them all out of a job
and if you can like get them all
hired, you know, by a company that's well
financed and, you know, is
that's better than just terminating them
say, and this is even on the
the Moonbirds, like one of the reasons
why I really disdain this
is I feel like this is just Yuga acquiring
it's not even just a dead weight, it's just like
of multiple, whatever, lead, I don't care
Yeah, I got the feeling this was a cleaning, they're going to clean house
Well, none of the like, not only that
right, so one of the markers of what is a good community
consistent ability to self
is if there are people in your community
or people in these like, holdership groups
fudders or just people that generally
for that community in some sense
will cut them off, just like, rip
them out, this is kind of what certain
people get out when they talk about like
communal nodes, network states
that's effectively what I'm going to be at, so like
network states will self excise
if they're healthy, if they're running well
your body gets rid of cancers, tumors
but it does a worse job as it gets more
when you look at things like proof
I love JJ, I think they're hilarious
the golden bird that posts
like negative stuff about proof all the time
if proof was in a healthy state
if that community was in a consistently
healthy state, JJ would have been excised
you even see this by the way, with people
dgods has actually done a decent
job of self excising people that
aren't necessarily aligned with the mission
pretty heavily, you see that
in the seals, like the seals have self excise
some pretty massive problems, the pudgies
do it, like healthy communities
and that starts at the top
I'll just be straight up with you
I love Stevie, I think she's a lovely human
I think she might be too nice for her role
and I think she like needs
to pick places where she's a little bit more
that is not, that is a dead weight community
paid money, like not money, but
they've paid assets of some
form and especially the most valuable
into now managing this dead weight
that they didn't need, is not aligned
with their holdership, they're effectively
a gaming company, Daniel Allegrae
wrote that he doesn't want to be a gaming company
per se, but everything that they're doing
is going towards gaming, and they brought
in one of the least gaming savvy communities
Yuga, I got it, I'm on the Yuga
gaming council, I can help
that's right, that's true
also one of the least art savvy communities
serious, most of these people are traders
there's a lot of people there that are very
intelligent, and they cook, and they have
very high net worth, like
it's like, how are you going to re-engage
a bunch of angry monkey JPEGs
Daniel couldn't even answer
like, some of Troppo's questions
the other night, and that was really weird
that was the most basic one
definitely got yelled at, in like a back channel
what the fuck, that wasn't what you were going to say
like, that was, he was just like, hey man
I just want this, he was like, hey
I just want the apes to feel cool
I can't help you with not
I need the bases to go to
I'm going to say whatever I have to
I'm looking at really great opportunities
thank you Jonah, thank you, thank you
because he was like, yeah
very respected within the community
he's like, yeah dude, I have very low
expectations, like not in a
bad way, he's just like, it takes very little
to make me happy, I just want the
bases to be cool, that's it
and if they're cool, I'm cool
I don't really care, I don't need you guys to deliver
these crazy things, and it just
it just feels as though there's been a
brand identity, and I think like this acquisition
digs that hole a little deeper, in my opinion
and I think Troppo, all he was
trying to say was, dude, I just want to
holding this too, and like, maybe
a lot of board ape holders, like a lot of ape
holders probably just recently haven't
lot of different instances, because
Yuga Labs is going in so many different
directions, I think they're spread
super thin when it comes to like, brand identity
and like, if someone mentions Yuga
I feel as though a lot of people
don't just immediately only
think about the apes now, it's like, okay
now they're doing games, okay, other side
now you have to worry about, and then you
have like, crypto partners. But Yuga's the parent
company bro, like what they need to do
is hire from within the community, there's
people like Phil, that give their
all to this, every single
times I say something crazy to
Phil, he has not changed that
level of dedication, like if you're
going to hire somebody that understands
the culture, that's going to make your
holders happy, like go for
all the solutions are right in
front of them, it's just like, you have
this like, weird top down
like, even the last time they let
people go, I was like, shocked
at the people they let go, because I'm like,
these people are doing phenomenal work
like, if you're trying to restructure to be a gaming
company, don't include all the
intellectual properties within that
like, restructuring, just like
the other side, like, it's not that
expectations are in their
I think it makes sense, and it would be interesting
to see how they're going to focus on the
brands that they're acquiring, I'm
going to bounce, because obviously I don't
feel like being a part of the
market. But to say this, because
Twitter, and this is how I found
out that this happened, because I can't even make
this up, this is so fucking funny.
driving home, and I'm just scrolling, I'm like,
okay, what did I miss? And on my timeline,
Miami Ape, and she has a poll out,
how do you guys feel about
proof, or you go acquiring
proof, and there's like, you know, three
options, and people are responding.
And I'm looking at it, and I'm like,
well, that's interesting, because Laura's
brand isn't usually like a shitpost brand.
the direction she's taking things,
like, I'm here for it, this is fucking
funny, so I like, I don't know, I chose some random
answer. And then I go into
we know what answer you picked.
with Steven Coffee with Captain,
my crew there, and I'm just like, haha, look
at this, like, you know, this is a funny shitpost.
Oh my god. It was so fucking
like, I just, I don't think,
I mean, the sentiment for me was
like, I had no idea that that was
serious. I really thought that Laura was shitposting,
so I thought that was so funny. It was the
first thing that hit me on the timeline after like
three days of being away.
I was like, really? So yeah, that was
fucking cool. You know what I will
say, too? Like, love Steven and
love Coffee with Captain.
I think those are cool guys.
I will say, though, like, Coffee,
that one guy is the first guy, the main
guy is good. The other guy, Chris Jordan, whatever, not that
you just said you were going to die.
I said I wouldn't flood companies.
I didn't say I wouldn't flood people.
He's like, it's free game. It's free game.
there was, there were moments that
I was like, can we understand
Steve, but, man, when he went on stage
like hundreds of thousands of dollars
of clear insider trading had just
gone on and was like, oh, Illa, I wish
you could have told me about this before it happened.
It's like, oh, my, oh, my
I found out on the 7th of February,
I'll pin it up to the top, but
I found out this was happening on the 7th of February
and I was in complete disbelief.
I was like, what in the fuck?
one that thought that was like, that was
funny, because I literally was like, that's a funny
shitpost, Laura. Like, I had no
Yes, it was funny because it was
just unlike the insider trading thing,
Legre in the call afterwards
was like, yeah, you know, this stuff
is par for the course. I like, I lost
my mind. You know, like I
Yeah, I can't believe that was
actually said. That's a bummer.
Yes, it is. At least like, at least
Clemente has that recorded.
a couple other people have it recorded.
page, you'll see it pinned.
while it was going on. So when you see
their facial reactions. Yeah, but like
dude, that's that's what like, what kind of
statement is that you run? You run this
mass that you're running basically what is supposed
to be the lead, right? The lead
company of NFT. And they said this
like everyone around them says this, that
we are the number one. We are the best.
Everyone should look up to us. Okay.
So when you're talking about your assets and how
they trade on the back end, you're talking about
insider trading that you then say is
I get that you may have had the documents
in place and made that you may have had some
of the structure in place, but for you to not
at least dude, at least just like social
signal and be like, yeah, we don't find
this acceptable and we're conducting an internal
process. Like it's inconclusive and it's
it's difficult to tell who did what fine
like I get it. You know, this is this is a messy
situation, but it'd be like, yeah, this is par
for the course, especially by the way
they had a clear script. So they clearly
thought about what they were going to say going into this and
for them to not have prepared something there to me
was laughable. Like that is a laughable
was at Z Academy. Yes, much
a small, like a much smaller scale
thing, but we had very, very clear
outward open policies about how we were
conducting trading. And this is just like
that's embarrassing to me. That was embarrassing
to like extremely high levels to me.
And I know most people don't care about that. And
ultimately, frankly, myself, like
It's like a nascent space. A lot of
shit happens. And a lot of shit gets
thrown behind, you know, message
walls or whatever. And some things
are out of hand. Even if you have the most
uptight, perfect situation,
But like to have such a flippant nature about
it, I thought was total bullshit, especially from
the CEO. Also, just to clarify too,
Illa minted Moonbirds. So
converting one of his things
eggs is kind of like out of
pocket. It was out of contact for sure.
like I did for two and a half
east and you tried to sell it now, like you're
not winning. Let's just be real
for a minute. Mine's still nested by
burnt my fanny pack. I said no.
Wait, did you actually burn that thing?
he just washed it with his straight face.
like, you know, bro, when I got that
shit in the mail, I was like, what in the
fuck is this? Like, they couldn't pick one
solid color. Dude, it's the ugliest
it's the ugliest of fanny packs.
It's not the fact that it's a fanny pack. It is
lemon black one that was actually really
dope. Yeah. And I know that's a fresh
fanny pack. Wait, I didn't get that.
All right, before we get to Joe,
there's because Joe obviously has some
a couple of angles here. A lot of these
speak very much to some very important tension
in web three, which is basically we're
dumb money, losers, and we hate anybody
with any education or institutional knowledge
or anything like that. That's a very real tension.
Everybody's like a fake pirate. They're really
just, if we really, they're really
warriors, angry white guys, if we really want to get into it.
But I know you like to steer clear of that.
But if we're just talking about the money,
then we can talk about the fact
Whole Foods, they weren't buying
the company. They weren't even buying real estate with
such people. They were buying an extremely
expensive customer that they were then able to
integrate into their thing. So I guess you could
possibly look at this as we're just
getting a bunch of wealthy, smart
insider people. I don't know that I
buy that, but it's at least a worthy thing
to think about. Then there's also
the whole thing of they're kind of now cornering
all the ETH market, which is kind of dead.
So maybe like monopolizing that when
there's no trading volume and
it can't scale. I'll defer to
all the crypto people on that.
Everybody hates Kevin Rose. So Joe,
this guy has a very shady background for 20 years.
I can't speak to this, but that's apparently
maybe a thing. I just viewed this guy
had graduated from a college
and they actually had business experience.
The people are so hostile to
institutional experience or knowledge
or smart or has a degree. There really
is this obsession with not only
just we're dumb money, we're pirates,
but like hostile. I know you're
not going to like this yet. It's very like
arrogant about our ignorance. That is
very much a theme in Web 3. It just
of Yuga, who are the Irish...
That's not just a theme in Web 3 specifically.
That is actually a global
concept. No, no, no. But I'm
saying it's been a course from being an adjective.
This is very much a space that
It makes me so bullish because that's
almost all societies. You're saying we have
the right establishment. Any, any,
any, anything. That's definitely a part of Web 3.
It's not the whole thing. You have very much this
horseshoe thing going on with both
there's like liberal and conservative
Zuckerberg, hate institutions. That's
fine. But it's definitely a part of Web 3.
It just is. You're not being honest
if you don't see that. And so
the idea that these pirates who really did...
It's a miracle what they've said.
I really think that's the whole...
You can talk about everything else.
I really think it's that culture shock of
for God's sake, why would we incorporate
pirate ship, right? We're the
anti-everything. And I really
think that's literally the
entire thing. And I think...
I don't know if it was Steve or Captain. Someone said
would you have liked this better if they just
Kevin Rose and he screwed up
and we're taking it. I really think that messaging
might have worked. Obviously that wouldn't have
worked. Kevin Rose wouldn't have bought it.
The deal wouldn't have gone through. But I think if they
would have basically said, fuck it, we're
kicking Kevin Rose to the can.
We're taking over Moonbirds and we're going to
ape-size them or whatever.
They needed to push a narrative, right?
They needed to actually sort of change what
Moonbirds and apes were just sort of feeling and
just squashing them together. This had to
roll out with a proper narrative.
Yeah, this is not a mid-play
game. You had to do that.
Otherwise you're just like, you're getting too
cute with trying to like,
birds now. Birds love apes. No,
I think you're right with the audience as well.
bunch of birds from Moonbirds and now they have more
inventory for that coming.
It's not that big with Moonbirds.
No, it's definitely not 250 million.
inventory for a new product launch
that you're going to push out is actually
pretty big. So you don't just want to launch it.
if that's what they acquired, but I really
don't think that's what they acquired.
understand crypto communities
By holding and participating
in Moonbirds, in my opinion
you are showcasing that you do
That is my strong opinion.
actually do this, you need to construct
a new narrative where both are intertwined
just say you don't really even need to
incorporate Rose in that scenario.
You can just say we're taking Moonbirds back.
He's not even anywhere close to anything that's
going on. He's out, but he wouldn't have signed on
for a message of fuck Kevin Rose.
the pedigree and credibility
of the whole thing started.
everyone was hyped because
was coming in and creating
You mean you meant that, right?
I'm not saying it's true.
I'm just giving you the narrative.
140th floor, something ridiculous,
just for the thousand proof passes or whatever the fuck it is.
it was the right time, the right place,
apart because they didn't execute.
The execution was garbage
arguably at Proof. They did some interesting
things on the art side, but not
anything that was really worth writing home about.
Fast forward today, I think
again, there continues to be this myth that
really belonged to the investors.
belonged to the investors.
The reality is that, again,
I'll say this again, when investors
invest in a company, especially at
a lot of rights. They get a lot
of rights. There's rights,
for example, I mentioned this earlier,
something called a liquidation preference.
What a liquidation preference means is
let's pretend the company,
someone invests $10 million
into a startup and they have
a 2x liquidation preference.
That means the investor needs to make
paid. That's what a liquidation preference
don't know the inside baseball
of the investment that Proof
received from venture capital firms.
burn rate. We know that they generated some
revenue from Moonbirds. Who knows
what that actually is. Who knows what they did with the
treasury. Who knows exactly what
and feels and smells like is
this trade-up aquahire, which again happens
all the fucking time in startup
common form of soft landing. It's like,
yo, you got 15 engineers?
Let's just call it an acquisition
but I'm really just hiring your people
and you're just going to sail off into the
you know that that's what happened
when A, the leader of the
organization doesn't stick around. In this case,
Kevin is not sticking around. You know
There's no terms being discussed.
No one's discussing price paid because
think about the acquiring founder
wants everyone to know that
they're a fucking thunder lizard. If you sold
your company for a cajillion dollars
you want everyone to fucking know
that because it becomes a part of your
legend. If it didn't happen
then you want no one to know about anything.
You want no one to know what the
negative for your legend.
Technically isn't this a second
Let's have Joe absolutely annihilate
Cairo before I try to get this thing.
lionizing Kevin Rose. I'm just
making a point of what the narrative
was. Now yes, someone has more
fumbles in his career. That's fine. Someone
can go into that detail. I'm just letting you
know what the macro narrative
was and then what the likely outcome
was in terms of this quote-unquote
acquisition which is really probably
just a fucking aqua hire.
Who is trying to step on your corner dude?
Take back your corner Joe. By the way
I'll toss to Joe in just a second. The word lionize
of public attention and approval to
someone or treat as a celebrity
and its primary usage came in the
The word lazy lionize means to
What's up Joe? Nice to see you again.
What's up buddy? How you doing?
According to the accountants who were
prepping the company in November to
moonbird side because that's what he was first trying
to get rid of. He wanted to keep two thirds of the
pay somebody 10 million dollars to take over moonbirds.
I'm looking at you guys pudgies.
That was the offer on the table.
There was 30 million I was
that was left after all of it. So do the math.
pre-raise the week before they
Then you raise 50 in August
then you do about 35 in secondary.
That's what they were working with. I don't know where
this quarter of a billion dollars comes from.
That's going to be your fees, your off-ramp, your
getting rid of that crypto which was going
Investors are going to take a clawback because they're looking
at that when he called high-rise and he said
oh, I'm not going to do that. So
they take a little bit back.
Then you start the spending. Kevin
gets his 30. You're down into the
60's. Dropping to the 50's.
Everybody's on web 3 salaries.
Motherfuckers are asking for $200,000
oh, I can manage the Discord community.
He goes to get his office.
They have a fucking big-ass
office. You know how much office space in LA costs?
COVID pricing. Kevin don't pay COVID
This motherfucker ran through money.
Let's not forget about the whole digital
tattoos thing. That's not going to be cheap either.
Did you see the forearms?
Did you watch the interview where you talked about
how he doesn't eat Wagyu beef because it's shit.
He only eats hand-fed acorn
where there's probably a virgin.
and instead of handing me
a tissue, Kevin just handed me a stack
going to tell you guys what we used to talk about Kevin
when he was in Silicon Valley.
company, unless you count my consulting
firm as a separate company, and that's my fourth
company, but whatever. My third company,
business partner in it, worked
at Digg at the very beginning.
Took a big old salary cut, go over there to work with the genius
that is, boy wonder, Kevin Rose,
offer for Google. No, fuck you
guys. I know what I'm doing.
gets a little bit shitty about it
because somebody said, hey, this is really great.
And so he fucking ruined it.
StumbleUpon was fucking incredible.
And then like 18 months later,
he had to chop the bitch up and sell it for
$16 million. And 12 of that
12 of that was for employees.
So that's a bloated number. That's a bullshit number.
Okay, but whatever. Give him his
fucking $16 million. Somehow he walked out
of there with no shit on him
and a big bag of money and walked right
into fucking Google Ventures where absolutely
nothing was accomplished in 18 months. That couldn't have been accomplished without him.
And then he started a fucking
podcast. Then he comes to Web3
and everybody's like, oh my god, he's
the greatest guy. Look, he's on the cover of magazines.
He's a boy wonder. And then he sells you motherfuckers
fucking digital pixel art.
That was the easiest follow of my life.
Thank you for that. You're welcome.
I obviously, first of all, I'm very interested in.
I'm a little too low for it, but I'm told
that ketamine really is a fantastic drug.
I'm curious. I missed, you know,
I still get flashbacks from my acid days.
I can't do it, but I'm curious.
Oh yeah, ketamine's great.
I haven't tried it, so I'm going to let other people speak on the ketamine.
You can say whatever you want about Kevin Rose.
pretends to die at their mint
and after. They're chilling villain
who's a fucking nothing burger.
Just real quick, just to correct,
Air Force. Now he was in the part of the Air Force
that everybody makes fun of.
First of all, let me just tell you
because you want to earn some fake token that they never
People will send me your address
and I will send you a fucking glitter bomb.
10-11 Bass Street, Ann Arbor, Michigan,
But my point is, writer rips can drop
a token and make back the freaking nine million
dollars that this is a horrible
human being. A horrible human being by any
standard. I'm sorry. He can make it back by
dropping a token. You have a bunch of
other just total shysters. We laugh
all the time about rugs and people
somehow Kevin Rose has a lower
approval rating than all these people. It's like, it's
okay if you're all like, haha, we're all dummies.
But God forbid you have a degree from Stanford
and you try to get in this and you're sort of shady.
It's like, you're the worst human being
in the world. And I just think it's
a little weird. I just think it's a little weird.
Jesse, can I say something to that? Okay, so
I think it's also just the fact that it's like,
like, sure, there are, you could name like, you know,
like, just like the craziest
grifters in the space always like rug or
like do like liquidity grabs. But
I think it's the fact that all of them combined
like what fucking Kevin Rose has like
like promises and then just like terrible
you know, and then the CCO
thing, like he like, he fucking rugged them.
Like people didn't sign up for that.
I would love to. So I want to say to
Joe, I was in the shower just
now and I heard every word you said. I just want to let
you know, this felt like a Viking
send off for me. I, you know,
I was, you ever seen the Viking
movies where they put you on the pyre and like
they send you off on a boat and they're like, you know,
see you in Valhalla or whatever. I was
just like enamored with what
you were saying in the shower. And I was like,
man, if there was ever a day for me to put
up my towel and stop funding
and pass the torch to someone, it would be this
guy. And I'm just, I'm so grateful
frankly has more skill than me at it
will continue the fight. So Joe,
I'm just going to mention that it feels
like Eddie is just accumulating like
of Fudders to come up on stage
You can't Fudd anymore. We brought in all your favorite
people. They're like the virtue
workers of this. It's insane
just for the record, I run on fucking
God, I know. Stop. I already like
Dude, that's literally me.
in the past. Like I'm the younger you.
You know what I think is the greater crime? And I'm going to toss
thought, or at least the reason why I at least
Kevin Rose type rather than
let's say like accumulation of
all of these other actual Ruggers
scammers and whatever pieces of garbage
which by the way, Paulie is
in my opinion, definitely also a total piece
of garbage, especially from some of the stuff that
I've seen him do over the past few years.
Right. No, but like my opinion
at least to a decent extent
when you're buying into the garbage
that Paulie is selling you, you know
what you're buying. Whereas with Kevin
basically what has basically happened
to many of the Moonbirds holders
is you have poisoned their minds
to levels that are like effectively unfathomable.
That trip though, Paulie would be selling hot dogs at Home Depot.
I know, but like when you look at things
like Moonbirds, you have these
fairly well, because I met a much of these
guys. I spent a lot of time, dude, people call me
the Moonbirds guy for a while, which is
I'm still shedding those feathers.
I remember that. Right, exactly.
The problem is I know these guys
intimately, and a lot of them
people. These are not stupid
they're stupid. I like a lot of
these people that were in the Moonbirds community
spoke with the Mad Nauseam, and I think
they at least have a really
What happens is you have this
figurehead of this space that
try to fix it in any meaningful way
whether or not he wanted to
people that could have been great in crypto
literally there are people, I know
holders, I'm not going to name some of them right now
one that I love. Dave Toronto,
he fuds the shit out of certain things
you have to take a step back
away from how you appreciate
founded on this horrible, horrible experience
that is Moonbirds, and you win
it to things thinking if Moonbirds
doesn't succeed, no other NFTs
could because look at who's leading
Moonbirds, like this is, this should
If Moonbirds doesn't succeed, how could
anything else? And then Moonbirds
and you look at the rest of the space and you're like
oh this is all just a scam, and it's like
how you should look at things, that's not
how you should try and take in some of this stuff
and that's why, at least me personally
and I go so hard on the Moonbirds, even
though I sold out of them, I want to say like six months ago
it left, in a sense, a trail of
going to have at least some
for at least another year or so
hopefully it gets flushed out over time
and it's water on the bridge
That I think is probably the thing that resonates
I just wanted to frame the issue, I think it is
worth at least thinking about the fact that
again, if a guy in the corner
like a homeless guy tried to steal a few bucks
for me for three-card bonnet, I'd be like
who gives a shit, like yeah, whereas like
if my friend, college friend tried to scam
me of some security fraud
I'd be like fuck this, like I'd be much more
fucking pissed at the established guy, I get it
but I do think it's worth thinking about
culture, not even culture, it's
really almost like a class war that
is kind of embedded in Web3.
That is a class war that is
No, no, it's not even that because
it's an interesting tension because everybody's like
oh no, we actually want to bring Web3
to the masses, but then we
really, really struggle with that because
then it's like oh, well then we're back to kind of
deal with that. Or you're going to bring gambling
to the masses, they have it already.
They do have it already. This is just a better
Bro, we could turn a book into a
casino, which is what I think is amazing
technology. Naveen, can you? Gary V already
did that. I want Naveen to
launch an actual casino, by the way.
You guys are the best. No, no, no, no.
You don't need to watch one. Just play on shuffle.
A casino in the clouds, perhaps?
Here, Finn, I want to hear from you. What's going on, dude?
And you don't have to raise your hands. You can just come and
pop in. What's going on? No, I like raising
my hands. Okay, fine. It's more fun to see
things that are more important than me. He thinks he's so
fuckers in person. It's great.
almost mute you off of that, by the way.
looking like a praying mantis.
Alright, alright, alright,
Jonah. You're the shortest out of the three of
Because I'm closer to God.
about fucking grifters, dude.
Who was that fucker who raised like $40 million
off those black dots that you combined?
And that was more than $40 million. He was one of the highest-
if we're going to fucking talk about the gold
standard for grifters, dude,
I'm pretty sure his grand total was close
to $70 million by end of things.
Who the fuck remembers him? I think it was
in the hundreds of millions.
follow-up was that Kevin Rose's
of this shit, it's fucking crazy
and what people have gotten away with.
whatever. I say things, but
in the grand scheme of things, the projects that are
still here and still doing shit
haven't come fucking close to the garbage
that we experience in 2021,
2022. There was some atrocious
I think when you look at the outflow
liquidity from this market, from
some of these people, it's just disgusting.
I still have my concerns over
the UGA acquisition, because I think
the upsides outweigh the downsides.
But at least someone's trying
to do something there, and there's
massive credit to taking something that had
potential and taking it out of the hands
and trying to do something productive
with it. Because a lot of these other
grifs, no one did anything productive.
There was no community takeovers.
leading to success. They just fucking
liquidity from the market and exit with millions
And the billions, by the way, too.
Fucking billions of dollars have left
this ecosystem from garbage individuals.
fucking good on UGA for trying to take
a step forward and fucking
pull some of that shit back and do something productive.
I mean, Pixelmon's a really good
The reason I really like Pixelmon
The reason me and Jonah put money
into Pixelmon was because of
the takeover. Because it's fucking
bullish than our neutralizing.
I'll tell you exactly why.
Okay, why did you put money in Jonah?
Because of the medics. Because of that fucking Kevin
I didn't read the fucking term sheet.
I didn't ask Kontow about the BVI.
He was like, yo, here's how much it is.
And I just sent it to him. I didn't even think about it.
Kevin is blue chip, by the way.
He's the most notable asset during the bear.
The first rug NFT I ever purchased was a Kevin
derivative. And it's the only
rug NFT I don't hide on my
wallet. I am fucking trapped.
Just to be clear. Worth shouting out.
by the guys at Project Ajira.
Almost no one knows that.
That's like extra bullish.
I was like cutting down my exposure
because I thought he was so ugly.
That's a moral of the story of don't
put your book by its cover.
Whenever that team goes to
pitch for any more money, they can just wheel
out that 12 year old kid and be like, he's the
creator, man. This is such a great
little narrative. Some zany 12
year old kid. Yeah, that's going to do
down. But yeah, all that to say
and I'm tossing to Joe in a second.
Just a reminder, Shan and the Project Ajira
team are low key legends.
Like big guys. No one talks
about them. They are very smart. Anyway,
a trillion dollars that's ran through the space.
on a handful of really shitty
whether it goes back to like
that fucking L.A. company call
with that asshole, Gavin, what's his face?
I met that fucker in Vegas.
But it's about a half a trillion.
NFT factory. Thank you, sir.
It's about a half a trillion
because you have to take into account
Cameras don't stop there.
If you look at the meme coins
what the CFTC is looking at,
these fake central exchanges
that pop up and they move like 20 billion
you know, maybe six to eight weeks
and then they shut down and then another
you're looking at really close to somewhere between
500 and 600 billion dollars.
But then the concerning thing
talk to people who really dig
leveraged 900 to a thousand times.
I was just going to say for everything is leveraged
in this industry, bro. Like literally
we're all playing with leverage.
times. It's my favorite thing when people are
like, I don't believe in Fiat.
Do you know how much Fiat's livers?
It's like, well, it used to be
one, but then it's about 50
you're playing with is about a thousand to one.
So yeah, I know how much it's
leveraged. And then they shut the fuck up.
for the fucking fanny packs.
sound money still? No, Bitcoin's separate.
Bitcoin's separate. Just got to
make sure. Yeah, you should put everything
into Bitcoin. What about how good
is these guns? No, eat this
you get guns, ammo, canned food
and then a ledger with actually
You'll be able to walk around
with that ledger and try to find
when is this going to collapse?
you're talking to. There's a couple of weirdos
in your night time space and they're pretty
sure it's going to happen every day.
to try to get my kids to at least
waking up every morning being like
today's the end of the world for like
you every day when you wake up and you look up.
That's true. That's true. That's a great mantra.
It's like the it's the parks and rec episode
it's the end of the world every year but they have to schedule
Sometimes you can't schedule the end of the world
on the right day because somebody else has the
I'm going to tell you a great
I literally believe 2012 was going to happen.
because whatever I watched the movie
I watched the I think did that not
come out on 2012? I watched the fucking
yeah I watched there's two movies that
scarred me in a childhood 2012
because whatever reason I actually
thought like it could happen. I don't know why
I thought that and then the other movie is this
movie where I think it's Stargate or
something where they go to it turns out
that if you go to deep space it turns out
space is hell. I don't know why
it doesn't matter that last part doesn't matter but
you know belief is a powerful thing is all
I was scarred by the Gremlins.
Uh that was my that was my childhood
scarring movie. Yeah does anyone else
That's a great movie. My step dad's
my brother dropped off at the
it took me two more years
of watching that movie to figure out he
tucks his dick in his standing because
I was a little kid and it didn't make sense to me.
I wouldn't take out the fucking
trash for a year after that shit cause
I was certain I was taking it. It was the little shit in the
In fairness I also had trouble taking
off. I definitely did some running.
You know like how Spongebob would run to the
Yeah it was definitely me.
he had watched the Freddy Krueger
the one where he waves his arms and
they extend and then he comes after you
so he had watched that the night before
and he was in a coke binge and he went to go get
the car out of the garage and he thought he saw
Freddy Krueger so he just took off as
fast as he could and he hit the car across the street
cause there was no fucking Freddy Krueger.
So that was a good explanation to my mother.
It's been a weird week dude.
Crypto's like the breakfast club.
It's been a good week over here Eddie.
It's been a really good week over here.
Yeah having fun of course you are Mr. Rohn.
Wait why are you saying it like that?
Oh pixels goes live in a couple hours.
Massive staking rewards for Rohn and holders.
Yeah dude Shamdu was right by the way.
Shamdu had a tweet today.
Can we like get off the fact that the kid
is a kid? Like every time someone mentions
Yeah we should focus on the fact that he
rubbed like 150 E's not that he's a kid.
Well the genius alpha there
when he did it he couldn't be tried as a child.
You guys got fucking bamboozled by a child.
Headdow was the future of finance for a little bit.
He would get on space like
sorry guys I gotta go I'm in 4th period
and we're like what the hell he just
he just aimed 50 E's into some like
rug and everyone's like what the fuck
He was talking to Goldman Sachs in 2nd period
extremely accurate characterization.
There's so many good movies that could be made from this.
No he actually used to do that dude.
He used to actually. Yes I know.
Yeah it was insane. He would like tweet like
okay just swept 50 E's worth of this
and they'd be like oh champion tell us about it.
He's like I can't I'm in 4th period.
In fairness he's also actually a pretty good trader
by the way. He's actually really good at it.
He's a crass mate and you're like
what are you doing and he's like
I'm leverage trading JPEGs and I'm like
dude that kid Jimmy's a fucking weirdo.
This is so much better than the FTX story
you guys probably should be looking at
upcoming raises and as long as you're not
as long as you're not blowing your load
on the wrong ones and you're being a little
bit careful and a little bit picky but just
watching anything that's raising and by the way
you don't need to be a sham dude
to get involved with a lot of these things
you just have to be aware that something's going on
which takes a bit of research
and then just ping some people who may be like
somewhat ancillary to what's going on
it's really not that hard
like the opportunities are
as much as he may have probably
hey like the kid's got a point
we're about to have some pretty crazy shit
well is unsurprising and congratulations
to the guys over at Ronin
that made me really happy
the thing I'm using Beanie
I used to use Beanie as an
I now just counter everything he says
he's actually a great indicator of what's not going to happen
and if Beanie's bullish, take your money out
was definitely right about say
he didn't call say though
so many other people called say and he hopped on the narrative
but he was still at least
right even if it was not he himself
who made the call but he was still right
like a crap ton of tea at like
$2 so good on him for that
bullish on a bunch of stuff
that's going on for anyone that's going to
eat Denver if you are heading out
and you're not going to listen to me on this next space
let me just tell you so that you're aware cause like we're
going to host a space next Sunday as well but
Hester Pierce she's a legend
will be at eat Denver so guys
for like one time just for like
a little bit while you're at eat Denver
that we might want to put on like a little bit
of like a fair just like a
modicum of professionalism so that
we can definitely get that eat
like I would prang man like
that eat ETF is going to be glorious
later this year and if like if you
guys are out there shooting paintball guns
at each other there might be a little
bad taste in the mouth of some of those guys
dude all I'm saying is that UDI went to
Bitcoin Miami with an army
dressed as wizards and then the Bitcoin ETF
was approved like a mod player so I don't know dude
that is also true alright guys
I don't just go like fucking ape shit
I've heard I've heard the
ETH founder has done some cool
stuff that you should replicate I think if
everyone were to show the amount of
are you talking about the size of his penis?
if just everyone showed up with you know
it may have just been a Vaseline
yeah that's what bears want you to think
dude what's a Vaseline camp
actually that was the wob
I thought camp like camp you go to it
no I would not want to go
to a Vaseline camp I feel like that would be
terrible I feel like I don't know
I don't really want to know what you guys
yeah I don't know either man
I don't know either let's just say
he's running his own node
in his pocket that's all we're
I'm just going to let that one sit
I don't think people really understand
it's a proof of stake protocol
that ETF is buying boatloads
that basically means that these ETFs
ultimately control the network
and then the ETFs are actually just giving
because they're not actually custodying the ETH
but Coinbase actually owns
I don't think people are actually thinking this through
you really shouldn't have
ETFs for proof of stake protocols
it's actually like fucking disastrous
for the security of the network
people are just not thinking
hear me out, wait real quick
and he's leaving out the worst part
because that's what they're going to do
you're going to have synthetic BTC
and then watch it go have fun
precious rocks or something like that
I'm totally with you on just number go up
I'm just letting you know that for anyone who
for anyone who cares about
layer of the internet where it's truly
permissionless and all that shit
if you actually give a fuck about any of that
to happen for a proof of stake protocol
that people actually give a fuck about
because it's truly disastrous
there's enough validators that it'd be fine though
because here's the reality check
ETH is already basically controlled by
two parties and that's Coinbase and Lido
and if you end up having an ETF
like all the Bitcoin ETFs are
accosting the Bitcoin with one party
basically and that's Coinbase
so like if you go out and you buy a
ETF it doesn't matter which one it is
it could be the BlackRock one or
you know doesn't matter which one
all that Bitcoin basically lives
at Coinbase but Coinbase owning
a bunch of Bitcoin doesn't actually
relationship with the network because
so the problem with a proof of stake protocol
start accosting their ETH
with Coinbase that doesn't
mean that they like have any control
over the network because they're seeding that
to Coinbase. Coinbase basically
just ends up controlling ETH and there's a reason why
the EVM narrative so hard like there's a reason
why they're doing it because they see this
happening on the horizon and it just
means that Coinbase ultimately controls Ethereum
like it's a serious fucking problem
this might be a stupid question but like
this industry grows in other
countries and other jurisdictions and they
does then that network grow
layer of exchanges and then that takes
some of that I guess consensus
largest market for this kind
of a thing and Coinbase is
the only party that's like
for this kind of a thing and by the way
we are already at a place
like if you go look at the data between Lido
have essentially a scenario with those
two parties control Ethereum
like it gets worse and worse and worse
think in the future like oh wow there's
a random exchange in whatever
insert country here but that country
is like a rounding error compared
the equities market here so that's why
for anything whether it's gold whether it's
Bitcoin now whether it's like whatever it doesn't matter
sort of like financial situation
on the planet that's why there's a reason why
the US is a dominant market
decides to do something then you
might have an argument but China's
not a fan of crypto like this is not happening
in China anytime soon so I'm just making
anytime I see on the timeline someone rooting
that's basically like I just in my mind
just translated accordingly
that's really interesting honestly that's really
interesting and as you said like if we do
the UK especially there's a lot
of I don't know how that compares
do we see that growing over time?
The problem is small, it's fucking small
Don't we have issues right now
with I forget which bank it is exactly
Ethereum whether it's just being metamask
but like you know most of the
RPCs that like run all the
It's called Infura and it's
owned by Consensus which is the same company
Ethereum is already like wildly centralized
on many dimensions but this
just takes the cake this just means
that like and ultimately what
you got to remember is that Coinbase
is under pressure by the US government
whole purpose of these systems like the reason
why these systems matter at all is
they're supposed to be permissionless like what
that means is that you don't need to go and say
like mother may I like oh when I
you know the Apple app store you
don't just get to launch an app on the app store
you have to say mother may I you have to go and
get them to fucking bless it and approve
what it means is that you run the risk
to launch a new dapp on Ethereum
subscribe to the US worldview
for example like there's all kinds of
weird effects that come from
this idea of like Ethereum
essentially being controlled by Coinbase
don't think like I understand everyone
in this room and broadly speaking in our
industry just wants to get rich so on
that dimension for a period in time
yes like it will help you get
but the problem is is that
stops being Ethereum right it just
means that it becomes like fucking like AWS
or something like something else
that's completely captured and controlled
and you won't have the wild shit that you
have like imagine a world where to launch
a shit coin on Ethereum or even
any L2 because they're all basically
rely upon Ethereum's security
model like you have to get their
permission can you imagine that can you imagine if you have
to like get Coinbase's permission
to launch a new shit coin or something
like that'd be nuts that'd be fucking nuts
like you know so that that's
the kind of the shit that you have to kind of imagine
like oh my god if ETF happened
flows and people start buying
boatloads of the ETFs have to buy
boatloads of ETH and they custody at
Coinbase because that's what they're going to do that's
already what's happening with Bitcoin
and then all of a sudden Coinbase now controls
like an enormous percentage of the fucking
Ethereum which is already a problem
that everyone's talking about in the Ethereum community
but clearly not like enough
and then it ends up becoming the scenario
where like oh I want to launch a DAP or I want to like
do something it's like oh you have to go get
Coinbase's approval to do it
and that's just like a shitty outcome
the TVL of Ethereum under
assets under management because
I'd probably be pretty bullish for their
well I was going to mention Naveen do you think that
like the the L2 narrative
long term then kind of like
to like you know better L1s
for example things that aren't built on top of
the EVM for you know just for
yeah so look I'm not here
L2s but you're asking really
good questions because it's sort of like okay
well if the L2s are reliant
model and Ethereum security
model is like legitimately
then you know what I actually
think happens like my secret belief system
on a lot of the L2s is that
they're essentially just vampire attacking
Ethereum anyway like if you think about it
like why do the L2s even exist
the reason the only reason they exist is
because proto-dink sharding has
taken fucking forever to ship
like Ethereum L1 has its own
has not like materialized and likely
won't materialize anytime soon
person like say you're Arbitrum
or you're Optimism or whatever it is
which is now basically controlled by
Coinbase like Coinbase is using the OP
stack for base right like Coinbase
has this entire Optimism worldview
then you're cool right because
like you have a layer on Ethereum
that you basically control
and you know Optimism is a
single sequencer anyway so
you know like you're cool you're copacetic
but yeah if you're someone like ZK Sync
or if you're someone like Arbitrum
or you're someone like you know Monad
or something else that doesn't
fall into that you know world
it's a really good question of like what do you
have an answer for you but then yeah in terms
of the way people should be thinking
about it in terms of our industry it's like look
if you're an Ethereum person cool I'm not here to change your
mind like you know I'm not here to flood anyone's
back I'm just I'm just trying to ask like
like intellectual questions
if you're like what the fuck happens like look what's
happening with Bitcoin right now like the amount of
significant and I think it's going to
continue because I think Bitcoin is like a
really interesting thing to own
or you have some sort of advisor or whatever
like compared to all the stocks you own
or gold or whatever the fuck else you have
like owning a Bitcoin ETF
problem is you know like the difference between
Ethereum is the consensus mechanism
right you know Ethereum used to
be proof of work now another option
which is like a wild option which I don't
see in the cards is Ethereum could always
go back to proof of work right like that's where
Ethereum started but that's highly unlikely
it just it just creates this like very interesting
question of like how greedy
are people they're very greedy I get
that like oh my god ETF number
you know I see these posts on the timeline of like
I'm like dude fuck that'd be great
like you know people own boatloads
of ETH I want people to get rich that's fucking
man if people are believing
that the way that happens is ETF
I think we're all going to be asking
like questions about the usability
and that may not matter to people
like I acknowledge and recognize that it just may
not matter because if everyone's made like
a cajillion dollars and everyone's buying like
fucking private islands and shit people just may
to me because it like defeats the
purpose of this entire fucking space
that's my opinion right there
no you gotta think that we created crypto for the
decentralized nature and you know we
hop around from chain to chain because
of issues a lot of people wanted to
bitch about Solana because you know
it was ran by only a couple
large scale computers and it was
start asking these questions and start moving
to different layer ones as
a community you know you gotta number go
up but at what point do we just say
you know Ethereum has been
look for a new place for number to go up
because at the end of the day there's new technology
being built and if we just jump to any one
yeah so I think the way it actually plays out
people only care about things
otherwise you know think about it like
we talk about this stuff all the time
bridges don't get fixed until one of them
I think what ends up happening is
like this all quietly happens
you know Ethereum essentially
becomes a captured thing like I think the ETF
ultimately does probably get approved
you know like there's wild inflows
like everyone's hyped, everyone
who owns a bunch of ETH is like pumping it
you know you see it all over the timeline
all the investment advisors become educated like
oh you can have Bitcoin you know exposure
but you should also have Ethereum exposure
right but then what ends up happening
is like the US government as everyone
knows is like pretty staunchly
anti-crypto right like and the
US government is not stupid like they're
not stupid at all we might think
some aspects of it is dumb but
they're really smart people involved
they know this kind of thing too like they're
care and they're going to do it with the guys
just like we all make fun of the SEC
you know for quote unquote protecting
us even though like they're preventing Americans
from like having access to generational wealth
like we talk about it all the time
you know and they're going to do it under the guys of protection
they're going to say oh you know it's bad
for terrorism financing or it's bad
for this or it's bad for that and
what you'll start to see is you'll start to see
like more restrictions you're
already going to start to see it on things
like front ends for DEXs like people
you're going to start to see like more KYC stuff
on DEXs you're going to start to see
it's going to be this like emergent
thing and then you'll start to see
like oh you want to launch a new
Ethereum DAP in the US like
oh you got to get it approved by Coinbase
you know you're just going to
and then what's going to happen is
eventually people are going to get frustrated
like people are very frustrated with Apple now
the whole App Store thing like you have
amazing entrepreneurs like you know Tim
Spotify is pissed like lots of companies
are pissed Amazon is upset like lots of companies
because they don't want to pay the Apple tax
and they want to be able to side load onto IOS devices
whatever they want to be able to do
and then those people start to find alternatives
like people start to like do things
they go wait this is bullshit I don't
want to operate in a world that's entirely captive
and that's ultimately how I think
like you know but then you
start to see the decline of Ethereum
and the whole Ethereum way of thinking
at that point in time like but that
that takes time like all of that what I just
said takes a while to play
out but that's in my opinion how it kind of plays out
that bombshell in the words
of the great Jeremy Clarkson
favorite hosts of all time I freaking love that
guy I'm going to wrap this puppy
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English do you have any thoughts or
I think he's asleep that's fine
guys thanks again for tuning
I am working on something
it's not ordinals it's not I like
ordinals but it's not ordinals
we'll let you know alright guys
enjoy the rest of your night hopefully you guys stay
safe throughout the rest of this week and
and appreciate your health and happiness
talk to you guys soon we'll see you guys next Sunday