Jim guys, I'll wait for another few folks to come in here.
All right, we can fire it up. GMGN, thank you for joining us here this morning. We're going to start the show here in just a few minutes. We'll give it a few for folks to filter in, get our speakers up on stage while we wait. Here are some tunes.
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Good morning and welcome to the Lucky Lead. Today is Wednesday April 26th. I'm not gonna lie, it's been crickets out there in the
NFT market this week, but there's still plenty of news to cover. And we've got a full house to break it down with you here this morning. I see some friendly faces out there, Darren, GM Times. Thanks for joining us as a reminder for any new listeners out there. We run the show every weekday Monday to Friday at 10 a.m. Eastern
It's a 30 minute show covering all the major news in crypto, web 3, and NFTs. This show was meant for those interested in discovering the space, those actively buying and selling in the crypto and NFT markets, and those here just doing research. I'm your host Tyler D. I'm joined by a full suite of amazing co-hosts.
Here today we've got Emily loves crypto a web 3 security expert and co founder of the foolproof app. We've got ghost content star over a lucky trader quietly a whale in a tea trader in his own rights and still rock him that knock amigo and then today we've also got CT she's a writer and producer for web 3 companies and also our resident business
Bitcoin and Ft whisperer I saw her threatening about Bitcoin ordinals here this morning would love to hear a bit more about those later in the show CT. Good morning. How are you doing? Good morning. I'm doing well. You know, we're still here. So yeah, you're good. We are still here. That is a fact. And I
I guess that's a positive. Today we've also got Jason Rousen with us. He is our director of Draft King's Rainmaker's Tools and Content over at Lucky Trader and we're going to end the show with a quick preview of the Mexico Open. So excited for that. What else is on the docket? So we're going to start with a new potential air drop from NFT.
We're going to talk California making moves on dowels. You got sharing some new details for the other side. Crypto rallying as another bank fails. And again, we're going to end the show with that quick segment from Jason. Before we jump in, a few housekeeping items go. Stick it away. Yeah, as always, if you enjoy this show, Tyler doesn't
great recap in his morning, minute newsletter every morning. So if you want to stay up to date on everything going on in FTs, make sure you subscribe to that and we've got that pinned to the top. And I think that's our only announcement for today. So back to you, Tyler. Awesome. Thank you for that ghost. All right. Let's dive in our top story, air drop season, Rage is on 2023 might be the
year of the air drop for NFT market participants. This year we've already seen notable air drops from Blair, Parallel, and Arbitrum with rumors of masks or metamast token, perhaps on deck as well. We'll throw another contender in the air drop range with leading NFT peer-to-peer
here at Lending Protocol NFT 5. NFT 5 has conducted over $400 million in Lending Transactions since it spun up in 2021, making it the number one lending protocol in the NFT space and they have just announced a new rewards program. And while it's not
confirmed that there is an airdrop tied to this signs are pointing that way. Before we get into that component, a quick overview of the rewards program. So their aim is to reward and thank users of the platform. Some highlights include everyone who's used the platform ahead of their snapshot are considered
and they received an initial amount of reward points. And then to redeem their points, users have to lend or receive a loan before May 15th at 3pm. And then the next season of rewards called Earn Season 1 will begin on May 15th and then they did sign up.
that the rewards program itself is not an offer of tokens or securities, along with the fact that US residents are not eligible. So all the early users, again, were rewarded with initial balances here, and then anyone who's new to the platform can begin to earn points by transacting by either making or receiving loans
on their their protocol starting as soon as yesterday. I think the question everyone's mind is what's the point? What's the point of these rewards points? So my interpretation of this is there are a few indications that this rewards program is very likely to lead to an airdrop or a token claim.
one, they mentioned a vision to make the protocol own and operated by its users. It's banned in the US just like the blur token claim was. And then they say very specifically in their FAQs points are, and I quote, plans to be redeemable for blockchain tokens at a later point in time.
So those three points scream, "Air drop to me." So I think if anyone is interested in participating, there's a few ways to do it. So one, you can simply participate on social by "tweeting" their announcement thread from yesterday. They'll get you 200 bonus points.
you can become a lender making a loan against an NFT or become a borrower, essentially putting an NFT up as collateral and receiving a loan against it. Of course, this is not financial advice. There are plenty of risks when it comes to any type of collateral lending and NFTs are about as risky of an asset to lend against as their
is. So be careful out there. But there certainly is a potential opportunity here. So that's my overview. I want to tee up a few questions for our speakers here. First, does this seem like an air drop or am I crazy? Am I reading too much into this? Go somewhere to get your thoughts.
It does sound like an airdrop to me. I don't know. Maybe they are trying to get skirt around some laws or like you said, it's not available in the US. So maybe they're walking a very fine line between announcing an airdrop for something else. And this is a way around it. But it definitely does sound like your traditional airdrop to me.
definitely seems like they had the lawyers come in. They're walking a very fine line. There's some very, very specific language throughout the announcement. I am curious, goes as someone who's been in this market since 2021, have you ever used NFT fire or any lending protocol?
I do a lot of degenerative stuff and I feel like the lending of a super risky asset is just something that I've never really gotten into and has never been that appealing to me and it just feels too risky and I don't really look at my assets as something that I want to lend out for more and maybe that's missing out on something that I
I can use to get some liquidity to buy other things, but it all just feels a little bit too risky for me. You see the horror stories on the timeline of people that are falling below the liquidation price and the constant thing we see with things like Bet and Dow. Those scary things on the timeline have always kind of disweighted me from getting involved.
it. But interested to see all of this happening and congrats to the people that have been using it because it sounds like you're going to get some sort of air drop there. Yeah, I definitely appreciate your thoughts there. And you are going the conservative route. I think there are, I can defend in a T5. I think there are a few, you know, use cases for using the protocol that aren't just pure
I'll get into those in a second, but CT, I'd love to get your thoughts. I'm curious if you have ever used a lending protocol for NFTs or your overall thoughts. Yeah, I haven't. I've always been super curious about it, but I feel like for me who's more risk-averse than most collectors, I would say
tying up my liquidity into that is not something that I want to do. But the second I saw this news, I was like, "Man, Sirus is going to clean up." Like, he just always has so much money. All his liquidity is pretty much tied up in an AT-5 or, you know, our cater at
pretty much at any time. So I'm curious to see if like our caterers or other lending platforms are going to do something similar. And also yeah, the wording is very tepid, very cautious around this. So yeah, but I was just like, man, Sirus is going to do great whatever this is. So good for him.
Yeah, I think some some big lenders and big lindies are are likely to be rewarded. Certainly there's a big question on how the market will value this potential token. Again, an empty fight is that the number one lending protocol in the space by overall volume, but they certainly had an advantage.
So I'd have to look at more of the recent data to see kind of how they stack up as there have meant a lot more entrance to the ecosystem. You mentioned Arcade XYZ. I was able to sync up with a few different members from that team at NFT NYC and it seems that an air drop for that protocol is very
likely in the future, of course, not confirmed. But even if you go out on their website and create a vault, which is the mechanism required to execute alone, there is airdrop language right on the page. So that's a little bit of alpha here. In fact, alpha in a very
market. I mean, farming for airdrops might be our only hope left in this in this brutal NFT landscape. I'm certainly well versed in this. So I've been an NFT 5 power user since early 2021. I got a hefty rewards balance. I think there's a few different ways I've personally used it. So on the
The other side, I've certainly had used loans as leverage. I'll say you have five NFTs from a project put two into loans, get some additional liquidity to buy more. That's how I've used NFT5 for leverage. There have also been some interesting, effectively, options markets that have sprung up.
on NFT 5.1 in particular was when the friendship bracelets had just come out and hot. There was a point where the friendship bracelet floor price was 0.5 ETH. And then there was a lender offering 0.5 ETH loans against the friendship bracelets payback 0.5 ETH.
So that's a really high interest rate, of course, but the loan to be was effectively 100%. So what these were were essentially risk-free call options. I mean, the risk was the amount of gas you paid to execute the transaction.
But had the floor of friendship bracelets gone past 0.6 anyone who executed this loan would have been in the money So I was following that situation very closely of course the friendship bracelet for fell out and anyone who tried to to cash in on those risk-free options
did not make any money. I was certainly one of those, but I liked the RR in that scenario, and I would do it again most likely. I think the other piece to know about ANT5, so it is peer-to-peer lending, so it is a little bit different.
then sites like Bendow. I think Bendow is all automated. You can pull out a set amount of liquidity based on a four price. You've got a set liquidation point. NFT-5 is different. There's just set loan parameters that a lender makes and the person who owns the NFT can choose to accept yes or no.
And then when the loan comes to you, you pay it back or you don't. And if you don't, it defaults. There are a few more nuances you can renegotiate now. There are a few other aspects of it. But that's my feel. I am curious if any of our speakers are thinking about potentially farming for this one, maybe getting into
to either lending or putting up some NFTs as collateral ghost or CT. I feel like for me there's it's super competitive right now in NFT5, I would definitely need to spend almost like a day doing some research on what collections do well, what's worth
what's not. If you put up a fluff, especially if you're on the lending side, it's really competitive. To lend out 0.1 eats for, leave it out there for 30 days and then earn 0.02 eats, or maybe even
your one e-th, right? Off of that's 10%. For me, it's just not worth it, but I guess that's how I'm not making money on NFT 5. I'm with you. I've actually never been on the lending side. I think there are sites where it's more lucrative, but the risk to reward on lending
I mean, the risk is up there. I mean, just imagine, you know, you lent against a mutant when the mutant floor was 40 if, let's say, you know, you lent like 25 eat or something. We've seen how fast these forests can come down. And then you can be underwater as the lind
And then of course if the four falls below the principal the the person who took out the loan is just going to fall So I think the FTI has somewhere between a 15 and 20% of the fall rate so that's something to be aware of But definitely interesting to see you know as the broader NFT space continues to become more financialized
And it will be interesting to see what other protocols in the lending space spin up and how they reward their users. So we'll be tracking it closely here on the show. I want to move into our next series of topics here. But before we do that, let's read the news. Today's Top Headlines powered by
Lucky trader trading volume came in just below 15,000 ethong Tuesday up 20% from Monday, but still a local lows OpenC Pro captured 6.7% share with blur holding 57% NFTs did see a mix of red and green on the low volume day with other deeds and vessels seeing some of the more
notable gains. On that note, you got has delayed the heavy metal reveal until May with journey to Evo 2 stage also now delayed to June heavy metal down 15% on the week at 1.29 ETH. But on the brighter side, the other side shared new details for how the environment tears
will matter in the other side with higher level tiers, enabling more workers on those plots, so an environment tier five allowed to have five workers, so on and so forth. And then again, the other DG rep 9% on the news and vessels up 20% on that announcement. Some other headlines, NBA Top Shot has Dave
you their own mobile app now available for download on iOS and Google Play for a limited time during the NBA playoffs. Dune Analytics has launched a new API, revamped subscription levels and a flexible credit system in a big new rule out for them, and then Proof has unveiled this new community council featuring 10 community members nominated by their holders.
the web 3 and crypto space, the crypto market rebounded strongly on Tuesday, Bitcoin up 5.7% at 28,900, ETH up 5% at 1910 when I checked this morning, Bitcoin certainly loves when the banks fail. Binance terminated the $1 billion deal of purchase Voyager, citing the regulatory environment
Coinbase launched a stand with crypto campaign commemorating in spite against the SEC with the freement blue shield collectible available on Zora and then anamoka brands as partnered with UFC champ Rose Navajonis to launch new NFTs in a new digital sports memorabilia challenge. Alright those are the headlines I saw ghosts. I'm curious if anything else caught your eye.
Yeah, so the 10KTF Puma collaboration I thought was pretty interesting. They're reviving the slips, streams, sneaker there in a journey that will both include digital and physical pieces there. So it's going to be a 2K supply price at 208 and it's going to be custom for the PFP like the other 10K
3,420 Sol, which is 40 ETH, which is a pretty wild sale there for a new mint on Solana. Yeah, it goes. Thank you for that. That was an incredible sale. So Madlads certainly catching a lot of hype in the past few days over on Solana, potentially a
threat to take that top spot from what I believe is the cleanest source right now. So gotta pay attention to Salana. I've got a question for the crew and it's related to this Puma shoe release. Do we have too many shoes in Web 3?
right now that there's like 5,000 people left. We've got Nike, we've got Artifact, we've got Adidas, we've got Puma, just launching shoes out into this fear. And I'm not sure there are enough buyers for this, so Emily, I'd love to get your thoughts.
I do think that there is a large portion of NFT buyers that came from shoe culture, specifically like flipping shoes. So I see the fit, but at the same time, I think a lot
of people are unaware of the customization options offered by all of these major brands and they're trying to make them special when they're not special. You can just go there and like manufacture them yourselves.
So if people are trying to flip them, I'm not sure if that's gonna work or not. I don't know. I have a lot of shoes, not necessarily sneakers, but I definitely own a lot of shoes. And I imagine that there's people in a
similar position, but in the sneaker, sneaker arena. I'm sure and these brands are banking on the average NFT user holder to buy about 10 pairs to support this demand right now. Go sometimes to get your thoughts.
Yeah, boom bull marketer bear market. I got to have shoes on your feet. So it's kind of a recession proof Bear market proof thing there. You need to do you need $800 shoes that feature your ape or be a choice I was gonna say I when I've spent my ape in the past on things it usually hasn't gone very well And I feel like the like the merch mini
and stuff like that. The one thing I will say is that it sounds like it will have utility on both physical being able to wear the shoes obviously and get an airdrop or the drop of shoes there and then also use it in the 10KTF competitions there where which have usually yielded some sort of reward like more ape or additional items there.
So I do like the little gamification there and the fact that you can put your pfp on it like we saw someone like Nick from the nifty show with his crypto bug hoodie there So I do like the customization aspect there being able to put some other different pfp collections on on the show. It's a way to create some loyalty to your pfp if you're
spending $800 on shoes that are featuring them. Certainly, I like Nike's Our Force One price point of $19, a bit more for this bear market than some of the artifact and now Puma $800 shoes that are coming out. But we'll see. CT, I want to get your thoughts on them back to Emily. Yeah.
I have the only thing I'll put my any entity that I own on are stickers because they're pretty cheap to make and yeah I don't really put them on stuff I wear but on the sneakers side of things. My feet, I have some narrow ass feet, they're not going to be fitting in these like men's sneakers like I'm not
doing it. So it's kind of unfortunate but something that matters, you're not mean like I don't know like you know maybe having a woman's option I don't know you know just fan. Great advice. I hope they're listening. Emily your thoughts? Yeah what I what I think is really
funny is that they don't seem to understand that all these people that have been collecting and have teased are super broke now. No one has like 100 dollars for shoes. We have nothing. We are out of money. Everybody's down here and this. Who are they going to sell these to? Exactly my point. And I mean, even Nike
I like their approach from $19 entry point, but they're trying to sell 109,000 pairs of these things. So we'll see how they go. I applaud that move. I applaud trying to reach the masses with these products, but I think we might have to go in stages here. We might be biting off a little more than we can chew, given the reach.
of Web 3 right now. But some good combo on the shoes. I want to quickly move on, spend maybe a few minutes here on this California Dow headline for those who are endows are following the space. So certainly while the US government seemingly creating hurdles for crypto adoption and
crypto companies left and right. California is actually looking to help. A new bill was just introduced, which would provide a legal framework for DALS to incorporate in California. As a quick rundown, this new assembly bill, 1229, would change California's corporate code to include DALS, blockchain networks, and smart contracts.
protocol is a 16z and the crypto council for innovation have already expressed their support for the bill. And if passed, it would effectively establish a legal framework that legitimizes DAO's ensures appropriate taxation. It would create a little bit more certainty for Californians,
participating in the Web 3 economy. I think this quote from Assemblymember Haney who put together the bill, I thought was interesting, I'll read it off. We have to make sure that our laws are keeping up with technology. For us, we've seen only three paths forward, environmental tech, biotech, and we think that Web 3 needs to
firmly rooted in California and that's what this bill is about. So certainly nice to see California trying to be on the leading edge here. Emily, maybe I'll, I'll tell you up. I think what we've got two California residents here with Emily and CT would love to get your thoughts
on this bill kind of California being progressive here. And then maybe part two, have you ever joined it out? I'm going to tell you at first. Yeah. I do believe that Dow's fill a gap in corporate structure that's available in America.
And that is an important thing to do if people want this large participatory effort and we have a way to put like the voting mechanisms onto the blockchain to remove a bit of the friction of basically like the super democracy that is
is that is going to close a gap and I think that there's a lot of organizations out there that may even choose to formalize into a Dow as a result that didn't fit into the classic organizations that we do have and that's why I think it is important and also I think that's why
I had appealed to so many people in Web 3 because that's how they want to participate. And if it becomes an official structure, then there's going to be more guidelines for making people employed by DAO's, which would accelerate, I think, the development of Web
three in general and also create a lot of real job opportunities, which is important in America because you know for us we can't really get healthcare affordably otherwise and it's it's almost impossible to do unless you have like a partner supporting you or you're just exceptionally rich.
and it creates a disproportionate amount of burden on people that want to participate in a new organization. So I'm here for it. I want to see it. I think that would be really cool. Well, I love your take. Spot on. Fully agree with you there. Emily, CT another California resident would love to get your take. I think one of
thing that the bill does is it really improves sort of the dependency on the LLC structure where I think a lot of DAO's they use that to set up their entity but it does not work for DAO's right like an LLC is not built for setting up a DAO but it's like all that there was
So I think that's awesome. Yeah, I love to see it. I'm not really the only Dow that I vote in at this moment I have a crypto citizen so I participate in that ecosystem It's fun to vote on the cities that you're going to next and stuff like that But yeah, I'm excited for it. I actually find sorry. I joined squiggle down
when it started in early 2021. But then I sold those squiggles and got kicked out of the dow. I did rebide and traded it in and out. - Those squiggles over the last two years. But that's one of my dow stores. We'll save others for another show. Ghost, some quick thoughts and then we'll move on.
Yeah, I love Emily's comments. I haven't participated in a ton of downs myself, but I think that they are like the future of where business and things are going. And I think that a lot of the earlier downs that we saw in like 2021 were mostly just like collectors that were teaming up to buy things or pool their money together to make investments. But I think that there also is real business use cases.
just by having transparency on the blockchain and being able to group up in a trustless manner without having to like send your money and just hope that they're doing it in the right way. You can really see what's going on and vote on it in a really good way without having to know anyone in particular. So I think that especially you see everyone working from home
businesses are becoming more like just open and transparent I guess and I think that this is really where the market is going and it makes a ton of sense so having some legislation come out on that that gets some regulation and get some clarity on that I think is huge. Absolutely. Personally speaking I'm much more likely to join down now that there
once they are officially recognized, we know the frameworks in which they can operate. And likely we'll attract more talent too because of this. So we love to see it. Alright, we're nearing the end of the show. I want to save a few minutes for Jason Rowsland, our resident DK Rainmaker's expert to come in and give us a quick preview.
of the Mexico City open happening this week Jason taking what? >> Tyler what's happened man thanks so much yeah we are heading down south this week for one of two tournaments in Mexico this year and rather weak feel but it is headlined by the best player in the world John Rom he is one of
the biggest favorites we've seen in a PGA Tour event for quite some time. So if you're playing Rainmakers and you're looking for a lineup starter, it's got to be John Rom. Now, Tyler, we can always just have the best player in our lineup. We need a couple others as well. So I want to bring up a couple of names. Ches Revy, he's a guy that is still rather cheap on the marketplace.
and is playing some really really good golf right now and another good player who we can expect to play in next week's big event at the Wells Fargo which I'll talk about in a second is Gary Woodland. He's a guy that's former major winner in playing some good golf right now. So those are just three names to look at for this week and I haven't got a couple of other really fun rain makers stuff coming up
But this week and that yeah, Jason. Maybe let's dig in before we do that What for those who are interested in the mech Mexico City open? Do you have a guide coming out that they can take a look at? Yeah, I sure do I got a slate break down that wouldn't be live right now or he's going to be live in the next little bit that is gonna break down all the
players in the field and give you a couple more more. Awesome. And then what else we got? We got cooking here, Jason. I think tomorrow is actually going to be a pretty big day with the NFL draft. Yeah, huge day in the sports world. Of course, the NFL draft, the next cream of the crop players will be joining the NFL. And I've got our buddy Peter Jennings,
and NFL expert and many experts and other things as well that is going to be breaking down some of the players that are going to be taken tomorrow. And what I'm going to do is tell you how you can sweat it on the rainmaker side. Drockings came out with a really cool rookie debut set. And I'll go over all the specifics of that in tomorrow's lucky
Jason, we look forward to that and thank you for popping in here this morning. So just to echo that for our listeners. So I will be out tomorrow. I'm traveling down to Austin for consensus. So we are going to have kind of a special hybrid show. As Jason mentioned, Peter Jennings is coming on. We're going to talk the
NFL draft and what it means for the NFL draft things rain makers product as well as do a quicker rundown of the NFT crypto and web three headlines. So a bit of a hybrid show and then we'll be back on Friday for our typical casual Friday show. I may or may not
be in attendance. It's s how my flight plans sh my co host will be here and have you co there. But that's it. We are running out of time. Uh but before we leave, what's dropin
We've got cornerstone companions at 11 a.m. We've got our blocks curated and still moving at 1 p.m. Eastern curious caverns number 50 caravan coming to 2 p.m. Visionary by Dane Yoon coming at 3 p.m. And then there's an adidas in the go hers pack more shoes and hoodies that's coming later today as well
Definitely a busier day of new drops. It feels like the highlight is the art blocks back with the newest curated drop. It's by Nathaniel Stern and Sasha Styles. The style is described as an interactive poem about humanity's visceral engagement with the virtual. And in fact, the pieces do require some interaction to be displayed. I have seen some jam.
better that the rest of the price of 0.2 is might be too high for this market. So we will see if this one does in fact, mint out quickly as most typically do, or if it holds at that final price, something that it will. But folks, that is our show for today. We'll be back tomorrow again for that special
show. Thanks to our list is for tuning in. Next to my co-host everyone enjoy your Wednesday. Let's make it a great day. Bye everybody.