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HOODIE PUNKS
Recorded: April 30, 2025 Duration: 0:32:49Space Recording
Short Summary
In a lively discussion among crypto enthusiasts, the conversation centered on the evolving perception of CryptoPunks, with participants noting a shift towards valuing NFTs in USD rather than ETH. As the number of unique wallets approaches 4,000, optimism grows about the future of CryptoPunks, suggesting potential for significant market growth amidst ongoing trends in NFT adoption and community engagement.
Full Transcription
Hello, everyone. Thank you. are we back
we're back
I don't know what happened there
I got booted
I feel like we got rugged
rugged at the middle of the day
that was crazy
Elon Elon Elon
what are we going to do
freaking Elon what did i miss everything man
you got punks you even got punks we got punks otc on i mean this is a freaking real space now
this is crazy all right well these i think you were uh i think you were talking i don't
want to go back to back to you i. I'm going to spread this link around.
I'm going to get this back on.
All right, coming back on.
Hey, can you guys hear us okay?
Yeah, I can hear you okay okay so i think as we're as we're kind of rebuilding the spaces here sorry about the
technical issues guys i think what might be a an interesting topic for you know us to discuss on
the panel as we're pulling pulling the guys up again is you know look the price of ETH has obviously
it's been a struggle here you know in the last four or five months do you think that people are
viewing punks in terms of prices of ETH still or maybe there's a shift into more as USD. Are they on sale?
I feel very confident with punks as is, but I get a little worried about ETH as a whole.
Serpent, maybe UNDs?
You guys want to run with that topic?
I don't know, man.
I've always had the thesis that punks are priced in USD. And you can take advantage of sometimes when ETH is on discount, but I am not a believer ever in the one ETH equals one ETH philosophy. So I think punks are unique in that way. I think they've always been kind of more in the like, oh, they're priced in USD the way that people think about, mostly because people actually move real money into ETH to buy their punks in a lot of cases um but yeah i don't know man i i've been way more in the like i only really look at the
price of punks in usd as opposed to eth um of course everything we buy in eth is a leverage
bet especially the nft side so it does make it a little bit tough at times when you're like oh
should i spent you know 155 eth on this and that, I don't know, I guess 300 grand at one point,
and now it's 250 grand.
But what does that mean in terms of the floor price?
I don't know.
I still don't.
I try not to think about that because I just think that
I personally have this take that ETH is more of a commodity
and is not going to go to something like $10,000.
And therefore, you should be thinking about things in terms of USD, not ETH.
I don't know if that's a hot take.
I don't think it's that hot of a take.
I don't think that's a hot take.
I think as time has gone on, it's become more and more apparent
that people are paying more attention to the USD value
and less attention to the ETH value.
Especially over the last, I don't know, three years,
ETH has just got wrecked for his
bitcoin since the merge like i bought my last punk to flip just because of the the usd value
i didn't really um care that it was like 40 ether 34 ether whatever the fuck it was it was more like
this feels cheap in usd yeah the moment Punks kind of starts in like
70k-ish,
I kind of get to a point where I'm
just like, okay,
I'm just going to buy now because
I mean, historically
that's kind of been the low since
I guess crazy, crazy highs.
Do you guys have a price for your like,
okay, this is free, I'm buying?
As close to 50k as possible. As it gets to like 60, down, if it gets to 50, it's like this is,
I feel like one of the better risk-adjusted bets I can make. Especially if Bitcoin itself is,
you know, 75, 80, 90, 100.
The bigger disparity between the price of one big point
and the price of one punk,
the more enticing it is for me.
Yeah, that makes sense.
Yeah, I mean, I've been completely kind of unplugged
from ETH and punk price action.
I know that there was a new punks report that came out.
I think maybe punks.wtf put it out,
but I haven't had a chance to read kind of the intel there.
All I know is that we're about to break 4,000, you know,
total unique wallets, which I think is a pretty exciting milestone.
And then there's certainly a lot of other kind of interesting stuff happening on the marketplace stuff with um these have you been following this like bid cancellation stuff
not really i just see the spam transactions in the history but i'm not following the mechanics of
why it's a thing or anything else.
Yeah. I mean, like there's been some discussion about this or at length rather in the discord,
the telegram, but you know, anybody can cancel any bid at any time. And that's just the reality of the smart contract. But of course you have to do that. You have to place a bid higher than
the active bids, and then you have to do that. You have to place a bid higher than the active
bids. And then you have to withdraw your bid effectively, thus clearing the board of bids.
That requires obviously capital. So if you want to cancel a bid on like a zombie or an ape or an
alien, it's been, you know, cost prohibitive unless you just are sitting on fat bags until like a new tool kind of came out
that lets you do this whole thing with flash loans. So now like anybody can literally cancel
any bid anytime, you know, effectively like breaking bids, which I think is kind of interesting.
I mean, like nobody wants that, I think from a market perspective in the end, but at the same time, like, you know, it's one of those things that it's possible. And so
I think it's, we're, we're basically I would say discovering almost like uncharted territory and
new beautiful quirks of this smart contract. And, you know, it'll be interesting to see how the community um puts
their heads together on you know addressing uh the issue because i i would deem it a very clear
problem uh now how how you skin the cat and i i don't know i would leave that to the more technical
guys yeah i was i was just gonna say i was looking while you're talking um valka um unique wallets
3862 unique wallets for punks which is pretty amazing i don't know i don't know when we'll
cross 4000 but that's that's definitely quite a feat you know i i think like a question that I would pose to the speakers is there was such heavy onboarding in 21 with Bored Apes, Top Shot, a lot of these things, and of course, Punks.
What could be the next onboarding event?
Is it gaming?
It's kind of the
the elephant in the room like can nfts make a comeback um maybe i'll put a pin in it there
let you guys maybe uh give give your thought give your thoughts on that serpent maybe what do you
think or or poppy and i don't i don't know if like uh can they make a comeback, man? It's tough.
Like, why wouldn't they have made a comeback in the last mini cycle?
Like, we saw a little bit of new action that happened.
But, I mean, I think that, okay, my actual thesis on this is that it's going to be more like Bitcoin, the first eight years of Bitcoin, where you saw a little pump, you saw a little bit.
a little pump, you saw a little bit, but people didn't really realize the value until it was,
you know, the second real cycle, which was 2017, 2018, kind of. I think personally that NFTs are
going to follow that trend more. So I think we'd probably miss most of this. And then the next
cycle, it kind of comes back. I do think there was a lot to believe in with NFTs, which is a big
thing. I think at the core of it, you either believed in the artist, you believed in the
artwork, and you wanted to do something with it. You use it as a PFP,
or it had some sort of value. And the stuff that's working right now doesn't have that.
And so that part is missing from the space. But I'm still pretty concerned about like,
I mean, there just hasn't worked. There really hasn't been much interest. Maybe some of the
big artists come back and do some things, but it really just hasn't stuck so uh i think i'm optimistic but it's not as like
obvious as it was in 2022 where it felt like it was a no-brainer that all this stuff was going to
be super valuable and and worth investing in yeah i i kind of tend to second that. I mean, I think part of it is how you defined making a comeback, right?
Is a comeback, you know, more people holding NFTs, more people creating NFTs, more artists
issuing NFTs, or is a comeback just purely like total market cap of all NFTs across the
board?
Because I think if you look at it that way, speculative culture has always chased the newest mediums
and the most efficient mediums and the newest narratives, right?
And so when it comes to pure PVP speculative financial culture,
there's no denying that meme coins dominate that space over NFTs.
You could talk about more fractionalization
for nfts but what's the meaning of owning like one one millionth of a jpeg if part of the whole
game is like culture identity and and and status and flex so uh i i tend to think like whatever
like nfts coming back looks like will be very different than what we saw before. I do think the kind of exception to this is like if you do zoom in on punks as, you know,
the NFT that really sparked the movement, it's referenced in the ERC 721, like proposal itself.
I think punks will, you know, in the end, like, I think, I think they're available at a massive
discount right now. You know, what that horizon is and what the timing it is for people to make that realization.
I don't know.
Am I pumping my bags here?
Most definitely.
Do I have bias?
Most definitely.
But it's also, you know, where I'm putting like my money where my mouth is.
And so I think punks will definitely like live to see greater all-time highs personally
denominated in u.s dollars i
just think that might take some time and in the meantime you know speculative culture is having
a lot of fucking fun with uh with meme coins
yeah and if you can pull pull up um i think poppy and uh also who else was oh and also ONA.
Pull those guys up.
Appreciate y'all's patience.
Deez, are you getting up to some PvP over in old school RuneScape world or what?
old school RuneScape world or what?
Oh, PVP much
in RuneScape. I do a lot of
just like skilling and
raiding and shit, but
very little PVP. My version
of PVP is playing
Zero Build, Reload, Fortnite, and
Marvel Rivals. Those are like the
two games I play
semi-competitively and take a little
seriously, but R runescape's much
more like let's just watch the number go up and chill yeah did anybody else up here have like
their nft origin days in runescape yeah actually i did uh hearing hearing you guys talk about i got
like i don't know what was going on i had some issues getting on stage you know look elon look at elon go um yeah i uh i love the runescape i mean that that was probably uh
four or five year chunk of my life that i uh i didn't do much touching grass so any any i mean
that's we were just talking about like well n NFTs come back. And I think about what transitioned me from DeFi and just being like a crypto hodler early to even looking at NFTs.
And it's probably the same for a lot of people who are early.
And maybe it was a reason why the price of NFTs were so high. One of the reasons, not the reason, but one of the reasons was kind of that idea of the metaverse or the idea of what's the next, you know, RuneScape type of game.
I know when we originally saw stuff from the other side, that was one of the thoughts that crossed my mind is that this is kind of RuneScape where we can build.
And it's been a long time since we've seen much.
Sandbox, some of those earlier metaverse games had a ton of liquidity tied to them,
whether you're buying plots of land. I remember I had a bunch of land plots. Those were some of
my first and earliest NFTs. They were worth thousands of
dollars. I don't even know what they're worth today. And I think a lot of that early speculation
for the PFP was about digital identity, what groups we wanted to be around on Twitter
or have access to, but also what we wanted our character to be in the metaverse.
It wasn't like my full thesis of buying, but it sure as hell made it fun to buy rarer bored apes,
which I did for the first year and a half pretty much of my NFT journey.
I was just buying apes, trading them, flipping them, having fun there.
buying apes, trading them, flipping them, having fun there. And so I think a lot of that early
expectation is no longer there because nobody's really executed that metaverse dream on a big
level. I know there's metaverses out there, but who's really done it? How many people do we see
rushing into the metaverse right now? It's very few. And maybe that'll change. It takes time. The expectations
of delivery were very, very high and unrealistic. But with NFTs, I think there's still a lot of
people that are buying. I mean, look at Punks. The last few months, I feel I've seen more momentum, more unique buyers.
For a while there, it was very dry with punks. It was just a few people, punks OTC, and a whole
lot of quiet. And we look at punks, they're kind of a fixture in nfts i think one of the
questions that old school asked was like what's going to be that catalyst i don't think that
punks need a catalyst or will have one i think you know some of the stuff that the team has done
like the avant art collab i love that that 10 000 on chain sits behind my Computer chair every day when i'm on zoom calls or google meets
That's my background. It's right over my head and i'm just like so proud
Every time I remember it's there i'm like, you know, like i'm i'm proud to be a part of it
Even though these these people don't know what it is
I think for a lot of people, you know punks are and I have my free to claim book right behind my other shoulder So I think it's you know for a lot of people like you know, punks are, and I have my free to claim book right behind my other shoulder. So I think it's, you know, for a lot of people, like the punk is the pinnacle destination in crypto, especially if you're involved in crypto Twitter, digital identity.
Oneiza, Deez, you know, like jumped out of his chair at work to, you know, get his ledger and
get his digital identity. So I think it's relative. And that's what a crypto punk really
resembles. It's the art, the identity, who we want to be in crypto. As far as other NFT collections,
I just think that floor price and expectation were so off, you know, for what, what was really being built, but there's
still a lot of people that are interested in that community aspect. And that's something that I try
to do on a day-to-day basis here is, cause this is mainly a hobby for me. I do a lot of other stuff,
web two to make money. Um, but I love the community. I love giving back and helping
people. And I still see that fruitfulness in the nft
world but it's at a lower level you know it's it's the stuff around below one eth um that maybe
doesn't capture the same attention as the older school punk you know generative art guys so it's
a unique perspective let me ask you just on that on that on this thread so is your is your position that if if you know we sometimes
say all roads lead to punks if if people are looking for a flex or people are in the space
in the space for a while i like i mean like for me you know i first had a purple hat pump cap
funk for years and then eventually wanted to slip and move up and level up to a hoodie, which,
you know, thankful I was able to do last year.
Do you think that it is with only 950 punks available for sale?
Do you think that that is how this goes for the next few years?
Is it sort of an in destination, a destination for people when, when they finally get in
the ecosystem, like, okay, I'm going to, you know,
drop a hundred grand or whatever it is. And this is, this is my flex. And this is, this is what it is. Okay. A hundred percent. And I, I, there's a buddy of mine who's here, uh, not mean, and then
there's, uh, there's probably seven or eight others that I could think of in the last six
months that I knew from trading board apes, right? This is just one example, but I think it validates that, that magnet that crypto punks are. These are guys
that have flipped 10 apes, 50 apes, a hundred. And they message me and go, Hey, Poppy, I'm thinking
about getting a punk now. And where do I start? You know, where do I go? Who should I talk to? What should I look for? And that's always a proud moment for me. It's cool to buy your own punk, but I also have fun when other people that are great, great collectors,
great contributors, jump in and get that punk and switch to PFP.
And for them, it's a pinnacle moment.
So I believe we'll continue to see that happen,
especially if we're doing stuff like this.
Go ahead, Valco. If there was one person you could coerce into buying a punk,
Web3 or not, who would it be?
I'll go first on this, but I want to hear everybody around the room.
I'd say if we had a Donald Trump PFP change, that'd be pretty crazy.
But maybe Derek Cheater.
There we go. I could see that.
I'd probably see.
The Trump one's so difficult, you know, no blonde hair attributes. What are we going to do?
Valco, you're our best shot at that, by the way.
What are we going to do? No blonde You know, what are we going to do? Valco, you're our best shot at that, by the way. What are we going to do?
No blonde hair attributes.
What are we going to do?
I mean, personally, I'd love to see Vitalik rocking a punk.
I think he's obviously – he must have considered it, I would hope.
I'm sure there's a bunch of people that have, from our community,
bunch of people that have from our community reach out to him to make such a thing happen.
reach out to him to make such a thing happen.
It's not like he's not opposed to rocking PFPs as we've seen him do with Miladies, but, you know,
maybe we're just not his cup of tea. Maybe we're not his sense of humor. Maybe he just doesn't
want to like endorse things unless it's comedy. I'm not really sure, but you know, as the guy who
gave birth to the chain we all live on, I think it would be really freaking cool to get him in our community.
And especially if he was in the chats, even if just a lurker, it would be pretty special, I think.
Yeah, I agree. I think that would be the low-hanging fruit, big fish option or opportunity.
I would say second nomination would be any of the developers of RuneScape.
That would be great.
I'm going to say even bigger.
I'm going to say Elon Musk.
I mean, that would be just completely stupid if that ever happened.
What do you think, Serpent?
I don't know, man. I got caught up in this and there's no blonde-haired trait. I mean, what are you think serpent i don't know man i got caught up in this and there's no blonde haired trait i mean what are you talking about it's just that they're female punks and i feel
like the right short hair looks perfect for trump i don't know i'm just saying yeah no female male
no female i'm trying to solve problems here jesse jesse's a man and he rocks a a blonde haired
punk so that's true you just get like a kind-haired punk. That's true.
You just get a sharper jawline, really.
Yeah, exactly.
I think our buddy Ryan Carson did, too.
I think he took the red lipstick off of his punk, though, when he touted it.
Sorry, I'm going off on the deep end here.
I don't know, man.
I think you need Vitalik to do it, right?
That would be the number one.
I don't know why he wouldn't have it. If he hasn't done it yet, then he's not going to, though. I think that need Vitalik to do it, right? Like, that would be the number one. I don't know why he wouldn't have it.
If he hasn't done it yet, then he's not going to, though.
I think that's my only reason.
What would his punk even look like?
I don't know.
He just needs, like, the bass punk with nothing on it.
Zero Addy punk.
I don't even know if that exists, to be honest.
No hair, nothing.
Just, like...
Oh, yeah.
There's three.
There's three Zero Addy punks, I believe.
Yeah, yeah.
No, there are. I forgot about that. No, there's eight of them. I'm looking at it now.
Oh, there's eight? Okay.
Yeah, there's a few you could go after. The cheapest is 10K ETH right now, so go for it, Vitalik. You got it. You got the money.
You can do it. and some of the other guys that trade a lot is, because I mean, I really don't trade that often,
is how often are you trading on a daily basis?
Like, are you in front of your screen all the time?
Are you actually trading on your phone?
You're not trading every day.
Like, give us a day in the life of you guys
that are full-time Web3.
And it's so volatile for me.
It really depends on the market conditions.
Like November and December,
I was probably in front of my computer
for hours a day.
The last two months,
I've been in front of my computer trading
for less than an hour a day.
So it really depends on the market conditions.
Once you get to a certain capital point, you kind of realize, I mean, at least for me,
like less is more.
I don't really want to spend 12 hours a day trying to extract liquidity out of a market
that isn't hot or what I deem to be super plus EV. Like a day in the life right now is like,
I'll check group chats a few times a day,
hunt small positions into some of these runners
and like check it every few hours,
but I'm not babysitting it
or taking massive size positions right now.
A few weeks ago, like the only bet I really made
that was smart was
buying a nice chunk of Fartcoin when it was down a lot. Because I feel like that's one
of the few bets that I can make. I don't need to check the price of Fartcoin every three
hours. I can go two days without checking the price and not really care. So those are
the type of bets I have in this market right now. If we do see a time like November again, though, I'll be dialed in.
And then I try to make good money when the time is good
and then just chill until the time is good again.
It's too cyclical to bash your head against the keyboard 12 hours a day
once you get to a certain spot in life.
This is better stuff you can do.
Yeah, I'm personally a non-trader.
I think there are a few people
who can actually win in that regard,
but it certainly happens.
And like, you can obviously audit that on chain
to people who do do it.
There was a brief era in the beginning of crypto for me
where I was kind of trying to trade and I felt so like,
I felt too plugged in. I felt like I kind of sold my soul to the devil. And then when I zoomed out,
I was like, okay, personally, my strategies, you know, my approach, like it wasn't really yielding
me results that were that much better than the hodl. And so I ended up taking a step
back and now I've just gone full like dollar cost average hodl mindset. But I certainly think,
you know, when you can find that like, you know, strategy and that conviction, like, you know,
it's a beautiful thing to see people make that work. But I really think it's like few and far between.
And, you know, unfortunately, there are a lot of losers,
but that is not to endorse or not endorse trading.
Just my personal experiences with it.
Hey, Valko, I just wanted to give a shout out to just a couple of people
in the spaces because I know there's probably a lot of people in the spaces that don't have a punk.
And,
you know,
I remember when I was coming on,
Suzanne was super helpful with me.
Punks OTC.
It's very,
been very helpful answering questions.
And so if you guys that don't have punks,
you're looking at getting a floor plunk.
I mean,
just reach out to us,
just DM us.
I mean,
we're real people.
We'll walk you through it it's a big commitment um and i think you can't uh can't say enough about the
community with with stone and and just how helpful and supportive that that everybody is and we know
this is a quote-unquote hoodie punk space but you know look there's there's lots of different types
of punks there's lots of different types of punks.
There's lots of ideas for these spaces in the future.
Looking to do an all female one we talked about.
And if you guys do have ideas for future, future spaces,
just please DM Valco or myself for this year, as we want to do,
we want to do more of these, but one thing stone wanted,
wanted to cover on the spaces was, you know, the term comfy,
like, uh, just feeling comfy or comfy season.
I don't know the origin of that, or if, if these are Falco,
if you guys know that, but like, what is, what does that,
what does that mean to you guys?
I just started saying it.
That's the first word that comes to mind when i
have a hoodie on it's just i'm comfy so uh i don't remember who said it before me i'm sure i took it
from somebody else as i have with many other things like dildo head and ass eater but uh yeah comfy
just kept saying it and then i made my open c name like comfy gang when i bought my uh punk like
my open c name isn't even d's um so i've just been saying it's comfy since i bought it dang so we
might have the origin of comfy right here on stage with us i bet sean bonner would know the origin
he seems to know like all the all the og all the og stories these are keeper of lore
right that's right
does anyone have an opinion on what the most comfortable hoodie is on the market
asking for a friend
probably the wallet with two zombie and ape punks. That's ridiculous.
Yeah, that might be it. That one's pretty sick. What about like an actual hoodie you
can wear though?
Oh man.
Depends on the weather. I feel like I have 100 of them. When it's like 55, 60 degrees,
I like the really light ones that almost feel like a light t-shirt
more than a heavy hoodie.
I have a couple from Lulu I wear all the time.
But in the winter, I definitely like a way more heavier fit.
So it kind of depends.
Are you a zipper or a pullover?
Oh, no.
Fuck no.
No zippers.
Always a pullover.
Yeah.
No zippers.
Yeah.
I think the zipper hoodie is kind of whack personally too.
Honestly, I got a second.
The lightweight hoodie.
There's something super nice about that.
I always toss one, one of the Lulu ones,
in my backpack when I'm traveling
on a plane because it's kind of compact.
It's perfect for the plane.
It also takes up no room.
If you have a big
hoodie, it's
a commitment in a carry-on
bag to carry one of those.
Those little thin hoodies, man, it takes...
You could fit it in the drink holder part of your bag, comfy.
A hundred percent, yeah.
We need to get...
We should get Lulu to do something in the exact color of the CryptoPunk hoodie gray.
I'm also not a big fan of flee fleece like i i like more of like
a heavier cotton blend um most of the fleece hitties i have i don't wear much they get like
too hot i think i run hot though so i i need something a little more breathable and and no
polyester like but we don't do the polyester it has to be
no polyester up in here
yeah we don't do that
well look guys
I unfortunately gotta go
duty calls
but anybody got some final words
or wisdom for the crew
man thanks everybody for coming sorry about the technical difficulties the crew. Thanks, everybody,
for coming. Sorry about the technical difficulties,
but we'll keep
on doing these and
DM us different topics and
speakers that you want to have on these
punk spaces.
If any of you guys have
questions about punks
acquiring your first one or
anything about the community at all.
Join the discord,
DM us on Twitter.
There's a special telegram one,
telegram chat.
yeah,
great,
great spaces.
Thanks.
thanks D's and,
and,
and Lenzu Capital.
Appreciate you guys.
And Valco,
of course.
Yeah. Yeah. Thanks everybody of course. Yeah, yeah.
Thanks, everybody, for joining.
We'll do another one of these in like a month or two.
Sean, if you know the origins of Comfy
beyond what was stated in this call,
please post it for the world.
That's great.
All right, guys.
Later, team.
Have a good week, guys.
Thanks.
