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Good morning and welcome to the Lucky Lead. Today is Thursday, May 25th. Ladies and gentlemen, this is a show I have been waiting
for personally for weeks. It's the gang talks, Opepins. It's been long overdue. We're going to hit all the other news as well. I see some friendly faces out there. Plunge father Liz, Hemi, thanks for joining us. As a reminder for any new listeners out there, we do 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 three 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 today
by my amazing cohost. We've got Emily loves crypto, a web 3 security expert and co founder of the foolproof app. We've got Logan Hitchcock, editor and chief over at Lucky Trader, reppin that Lucky Trader account up on stage. And perhaps our cohost of the day, we've got ghost content star, quietly away
I'll dip in his toes and AI and rocking that beautiful new Opepin release one PFP one the best out there ghost. Good morning. How you doing? Good morning Tyler. It's very excited to talk Opepins. I've been looking forward to the show and and the Opepin profile pictures just kind of hit different. I'm looking at all of the different walks
for days for this one. We're going to touch on China coming for crypto blurs sorely needed feature, hate prime being acquired. Our blocks is coming back plus all the news before we dive in ghost any housekeeping on for today. Yeah, as always, Tyler does a great recap of the NFT market in his morning, minute newsletter every morning. He's waking up at five
there's more NBA fans in China than in the US. So maybe that is the next wave coming from NBA Top Show. Well, that's a topic for another show. Today we are talking O Peppin. So Jack Future is hot. His checks element auctions closed on Tuesday, fetching a total of 50 ETH across three pieces. But guess what?
what those auctions pale in comparison to what has been happening in the Opeppin world. A few key price stats for where we're at in the market right now. The unrevealed for Opeppins 0.66E when I checked this morning, that's up about 105% on the week. The Opeppin release won for it.
30, eat up 140% on the week the Opep and Arleys 2 floor quietly jumping is it like 3.3 eat this morning of about 270% then the unrevealed one of one floor up to 8.5 of 46%. So scarcity has taken over
that in jacks release one opem satin is taken over in a few different portions of this market and that release one floor rocketing to 30th on the back of several 19 eighth sales a couple 25 e sales seems to have dragged up all the other floors with it on a good night web three space
last night, Jack was in there and he was talking about how there will be several pack drops next week. When we don't know how many, we're going to get into that here in a bit. Shortly just after that space, notable geometric Pepe artist, Batsdue, tweeted in Opepin in that traditional Batsdue style. So, speculating
is running that he might be included as one of the guest artists next week. I think that would certainly get the market buzzing as Bastos geometric pet base have a 6.88 floor. But even if that is kind of a head fake, next week is going to be big, regardless. I do think the performance of those next week packs will likely dictate
project, I kind of go through a few of the terms for those who may not be as close to it. I'm just going to do it kind of in an FAQ fashion. So I think one of the first questions that I see is, why does some of the Opeppans have art and others don't? So the way this is working, Jack is releasing 200 packs of 80 additions over the coming weeks and months.
And that's how he's going to reveal the art. We've got releases 001 and 002 already. So that's it. We've got basically two packs and those who were able to win, they subscribe to those packs were able to get their art revealed. So what is a release a release is a set of six different additions using the base of pepper
framework. Each one has a specific and unique theme. Additions sizes go from X of 40, X of 20, X of 10, X of 5, X of 4, and X of 1. So basically there's 80 in-at-tees in each pack with rarity ranging from a 1 of 1 to a 1 of 40. So how do you actually get into release?
have to subscribe. So for each pack, Jack will basically display what the art is going to look like in a teaser. Then holders of the unrevealed opepins will subscribe on the site for basically a raffle chance to win and get that actual art. And that
And if they win, the metadata will be well updated on their NFTs. This will only happen if the subscriptions are over 200% of the slots, meaning at least like 160 people have to subscribe. And if they don't, that means Jack is basically going to throw away the art and move on to the next
to one. I think that the last question I've seen is for holders of unrevealed opponents, do you have to do anything? Well, not necessarily, but if you don't do anything, then you're never going to have your heart revealed. So eventually you will have to subscribe to a pack drop as this plays out. But we've got a long time to go.
So that's the that's the quick overview. Hopefully I did a decent job kind of walking through it for those who aren't super familiar Ghost maybe I'll start with you You know you read just recently recently made a pretty big purchase on that Opet then R1 that you're rocking up on stage maybe walk us through your by process your thesis for the project
Yeah, and I pinned a bunch of tweets to the space here that I thought were some of the great tweets explaining the projects in the community. So check those out if you are still looking for more information on that. There are some great ones out there. My bypass was pretty interesting. I think it was interesting because I started off more as a as a checks person. I really loved
Jack's project had been deep in that, hadn't been following the Opepsis closely. And then when the first packs came out, I subscribed a lot of mine to the first release and didn't hit any of them and then kind of forgot about it for a couple days. And then all of a sudden saw this really like bustling community kind of forming around the OO1s, which
that were a lot of people from checks that I loved following. And it just really resonated with me. And at this time, we've been seeing all of these NFT projects run to zero. A lot of the former ones that we call blue chips are dead in the water, not dead in the water, but people are really disappointed about them.
And this whole time everyone's been saying, oh well Jack butch is really the only one that's been renovating during this time and a lot of his art and the how he makes you think has really resonated with me during this bear market and the Opep and reveal kind of opened my eyes to the mechanics that Opep and has compared to checks and I love both
of them so much now, but I was kind of had that blind spot for Opeppin. So obviously I started jumping in a little bit later than I wish I would have because I think I was watching it when it was like three or four youth and just didn't pull the trigger. But happy I got in at 11.3 youth a couple days ago and found a seller which was very hard because there really aren't that many
people that want to sell in an 80 edition size there. But it's been an awesome community. We have a great group chat and I really enjoy the thoughts of a lot of the guys. If you listen to Jack talk, I mean you just get it. And he understands how to communicate like really complex ideas in a very concise, easy to understand.
and he's just a really easy person to root for. So it's been a really breath of fresh air in the space right now. Well, goes, thank you for that and taking us through your thought process. Logan, I want to te you up as someone who follows the space closely. I think we've seen a decent amount of folks in the community kind of calling the project innovative. Why do you think that
is kind of what jumps out to you as what's unique about the project. Yeah, I think the the amount of choice given to the user is really, really interesting. We've seen it happen maybe a bit outside of Jack, like you get started to do it a little bit more, but he's really
to give a lot of choice to you. And in doing so, not only with OPEP and with the ability to subscribe, right, to different drops, if you like the art or you don't, but also to with checks, like, you know, do you want to merge them together, do you want to burn, do you want to do this, that, right? So that's, you know, maybe not super super innovative, but it's something#
for users in the space. And then beyond that, I mean the mechanics themselves have all been really well thought out and really well communicated. And I think that's, that seems kind of lame as an innovation point, but this is a space where I saw the quote from Carly Riley yesterday about the
abstraction and the specificity. This is a space where that confusion often times drives speculation and the interest in things and Jack has tried to simplify those complex ideas as ghosts were just alluding to. I don't think that's necessarily innovative but it's different in this space and it's refreshing.
And I think that's very well said. Go some additional thoughts. Yeah, I wanted to bring up the fact that Jack has done a really good job of building the entire two projects in public, which has been such a good way to bring the community along for the ride with him. And I think it's really built a lot of supporters that are just built in people that hype up your projects.
ones were actually the sought after ones was just super bullish to me. Yeah, that's such an interesting point and I'm very curious, you know, how long it will play out like this, where the revealed floor will be higher than the unrevealed. I think we'll get our first true test next week. So I, you know, I
want to start, you know, I want to move on and start talking about what's going to happen with next week's Pax. I mean, do you think they are going to be all, you know, tremendously oversubscribed like Pax 1 and 2 are? What are your early predictions, Ghost? Well, I think that's one of the interesting mechanics of the project is that only dropping 80
at a time, like that's such a slow drip for a project of like 15,000 or 16,000 or however many they are. So like I think there's always going to be this demand because there's just so few drop at a time and it's going to take a while for all these to get to get out. So I do think that there's just going to be more people that want revealed ones and there are ever going to be revealed at least in#
I think that they're all going to be over subscribed in the beginning and then like I I bought some oral pep and blanks yesterday when I saw the the bad suits we because I thought that just looked amazing and Was I think we're all looking for an example of the first collaboration with it with another artist and to see what that looked like and I think that the preview that bad stew sent last night was like a really great
great visual of what these feature collabs will look like. Yeah, that's cool. Hopefully we can get that pen in the space if we haven't already. Yeah, it's up there. Awesome. I think what I missed when I was first thinking about this project and I saw that there would be PFPs that were additions of 40 in my head. No one's going to want
a share of PFP that 40 other people have. But I think what I missed is the concept of scarcity and they're only being 80 and a tease in these packs and how low that number really is, right? And we've seen, you know, the analogy already of the Opep and release in one pack to like, Spirit of Zookies, because
there's like 80-spirit Azuki's. It's the highest sought after one. I don't think we can say they're quite there, but conceptually, and then number and supply, that analogy makes sense. Speaking of analogies and PAC selection, I have to go through this thread from OX Digital Oil
It's one of my favorite threads I've ever read about NFTs on the bird app and it's comparing Opepin selection strategy to wife selection. So I'm just gonna read it verbatim and then we'll break it down here. So the Opepin Optin game theoretical setup is nearly identical to the classic optimal stopping marriage
which goes like this. Imagine an individual is interviewing a series of in candidates for marriage. They must decide immediately after each interview whether to select that candidate or continue with the interviews. Once a candidate is passed over, they cannot be chosen later. The objective is to maximize the probability of selecting the best candidate. It turns out the outcome
The last thing I want to say is that the first 37% of the candidates are the next candidate who is better than all the previous ones. The strategy gives a probability of approximately 37% of selecting the best. So, I'm going to draw it back to Opepe and say you own a bunch of ones.
of ones and you don't know what artist Jax next collab is with or what will be dropped. What's the best strategy to opt all in versus continuing the holding? And he says basically after drop number 74, which is 37% of the way through the number of packs out there that time is a ticket.
This was just an eye opening thread for me. It's been a problem I was dealing with. You know, personally, someone who doesn't hold that many, if you only held one unrevealed Opet, and like, what would be your strategy? I mean, it's tough to fire at that, you know, the third pack.
the fourth pack, not knowing what could be coming down the line. So I want to open up to our speakers. Any reactions to the wife selection analogy, and I'm saying why? It could be husband selection, partner selection, but ghost, I'm curious for your thoughts and how much you've been thinking about your personal strategy.
Yeah, I think I'm just going to fire into the art that resonates with me the most and the reason that I wanted to grab the OO1 is because I think one they're super clean and awesome and I love them but just having the first edition feels special no matter what and I really liked that idea and we've seen that in NBA Top
or any other NFTs, like always the low-scarecity or low serial number type things. Like I feel like the first 80 are gonna stand the test of time if the project continues and obviously anyone who is probably holding a no at one at this point is very bullish on the project long term. So that was kind of my thesis but I think that
What has served me well in the NFT space over the past two years is buying things that I like the art of and want to hold. And I think that is probably what I'm going to be looking at for each drop. And if it doesn't resonate with me 100%, then I probably won't subscribe.
I've got 150 other chances. So I'm not looking to like hold things for the for the 200th drop. I'm just more looking what resonates with me and what I really like. That's interesting. I'm not holding for the 200 drop.
either, but I think it's gonna be hard for me to jump at packs three through five or however many he's gonna drop next week unless they're bangers. Like if Bats do was in there, I'll probably subscribe to that and my loves get your thoughts.
What is this game? It sounds like a reality TV show to like the literature spouse. This game is something to do. I do not understand.
tied back to anyone who holds an unrebilled Opep and has to subscribe and try to win a slot in a pack. - That's part I get. What is the wife selection game?
It's the optimal way to choose your partner according to math It means that basically whatever you think your candidate pool is your best odds of finding an optimal partner is to interview like 37% You know of what you think your total number of people you could go on dates with
After you've gotten through 37%, it's time to start making a choice. I don't know. I feel like if he had chosen a more relatable argument, it would have hit home better. Let's call it an interview in candidates for a job. And if you interview to 100 of them,
and we could use the same theory here to be a little more 2023 friendly here. The wife selection is resonated with me so much more, but I digress. Well, you know, I want to wrap up the discussion and let us move on. Certainly, if there's any, you want to listen who wants to jump in.
and weigh in on a matter of place, feel free to do so. Logan goes, "I'm curious for your thoughts." So I think Opepins, how long ago did the first pack release? Like three weeks ago now? So at first I thought this would, this reveal would take weeks, maybe months. Now it's looking like months, maybe years.
Do you think Jack will be able to command attention that long in this market? Logan, I would love your thoughts. Yeah, that's an awesome question. Man, years, it gets really difficult months. I certainly think continue to command attention. Jack and Chex in particular at the beginning of this year.
right dominated headlines for at least a month period and then you did see it sort of go away a little bit and not for the diehard community members which he's done a great job of building but when compared to other headlines you know that's just the space that's the way it works. So I do think definitely
capitalizing on the attention for the next month or so makes a lot of sense. Months beyond that, perhaps years, it just gets really, really difficult because more and more people are going to enter and more innovative things are hopefully going to happen alongside. So I don't know. Well, we'll see. It'll be really interesting to follow. One thing I wanted to add on to this was
It, um, this is discussion was regarding the choosing it really does feel like this has a little bit of like memes card meme card type thing in it where as the Opepins continue to flourish more and more artists are going to want to be a part of Opepins as well. I don't know Jack's selection process.
in particular for working alongside others. But that would be a really difficult thing for me as somebody who really loves a lot of different artists in the space. You know, kind of always holding out hope that, you know, maybe FIWA will partner with Jack, right, to drop in Opep and something like that. So just an added element that I was thinking about.
wanted to share a comment on.
predicted that Pax 10 plus would start likely failing to meet the subscription numbers. I no longer think that the count of 80 is just too low and I didn't realize that. So I've changed my mind on that. Ghosts, maybe we'll get your final thoughts and we'll move on. Yeah, I think Jack has done a great job of kind of threading the needle between PFT and
and art and I think that the slow drip and long term horizon is perfect for this and I'm not worried about the fact that he has to sustain attention for for possibly years with with these slow drips because I think that the mechanics of how it how it's functioning right now are going to create all this phomo of people who really want
these revealed ones that just can't get them because it is that slow drip. And I do think that he's got great connections and as well, respected the Jack butcher and and Joliel and these guys that created the project are just so easy to root for and I think that as opposed to some other NFT projects, especially PFP ones, which are kind of frowned upon by the art community. I think that Jack is kind of one of one of the artists
just like everyone out the other people and I think that that helps for collaborations and for other people wanting to showcase their art in the project. So I'm not worried about the long-term implications of it being possibly like a two-year reveal because I just think that there is going to be that demand there. Very well said and maybe I'll close this out with a tweet
from IMO.E.T. He's listening out there. You got the Jack, but you'll retweet last night after the space is he tweeted. "Checks is Gerrit of Art. Opepint is PFP. Elements is Physical Art. Plus Eaches. So much more." I think that's just a great summary of this ecosystem and Jack's kind
to cover on all bases right now. So we'll see how this plays out, but it's been a fun one to watch. All right, I want to get into our next topics, but before we do that, let's read the news. Today's Top Headlines powered by Lucky Trader. Trading volume was at 14,000/8th on Wednesday with the very
before settling at 1.5, then Pranksy entered this morning, swept them up to 2.25 and a nice win for mentors. Azuki is opening up new tickets for its upcoming Vegas event with the RSVP window closing on May 28th. Bler has added partial repayment for its blend and BNPL program if features sorely needed and it also
also added BAKC and other deeds to the Blend program, with their floors falling to 4/8 and 1.01/8 respectively. Meanwhile in CIO 9GAC confirmed plans to launch the meme token coming soon along with a new partner head of blockchain and digital assets that drew in Napier.
the higher of a new creative director with prior experience working overwatch Batman and more. And then the Pudgy Payne Wednesday now has the new Shark Suit vinyl toy priced at $250 launching Friday night in Web 3 and crypto news crypto fell on Wednesday Bitcoin down 1.75% at $26,230. Eat down 1.5% at $1790.
Also, notably the correlation of Bitcoin and the NASDAQ index has fallen to 17 month lows. So those are no longer trending together as much. We also saw some major headlines out China as their CCTV covered crypto yesterday. NFTs were featured in several China cities, or also ramping up a metaverse arms race.
HATE PRIME's parent company, Digital Mental Studio was acquired for $12 million by Vertex Labs with plans to launch a staking program and big plans for fashion in the metaverse. And then Shaq, back in the headlines, he also got served yesterday for his promotion of FTX after just facing a class action
suit for Astrol. So those are the headlines, go slogan, any of those that stood out to you, call your eye or any reactions, go, so start with you. I pinned CT our friend and fellow host here on Wednesdays and Fridays. She said men will buy a shark costume, pen, good vinyl
$249 instead of going to therapy which had me cracking up this morning. But those look pretty cool. I thought the hate prime being acquired was pretty wild. That brought me back to the walking 3D avatar meta that we had. I think like a year and a half ago probably which was was pretty wild. So crazy crazy to see that project back in the
in the headlines. Did you trade any hate primes? Were you on the silence for that one? No, I thought those looked like shit and it was hilarious. One of my favorite things, this was like up there with like the Kevin meme and other things was the hate prime that had the year going through the bucket hat art on the reveal. That thing was so funny to me. Oh yeah.
I mean, these things came out like 90. It was, it was a true crazy bull market bubble story. The market hasn't moved that much on this acquisition. I checked this morning and there are 21% to 0.35. So I don't know that I'm ready to put my stamp. This is the next comeback story and only force. But clearly, this is the new
You trend to watch is old projects being acquired. If you believe in the company that is acquiring them, perhaps not a terrible bet. But again, do I or I'm curious, are we buying that art blocks is back? Pretty nice run up.
yesterday's curated meant kind of following the run we saw earlier in the week log and what kind of what your thoughts watching the art market here this week is too soon to tell are you ready to dive all in what do you think i think it was a happy confluence of like a really cool innovative project uh... any most of the art box projects fit that narrative but
This one in particular plus of course the the activity from earlier in the week. I think it was going to be difficult for this particular project or any that would have fallen in that range to perhaps not perform too well. So think of happy confluence of things. Beyond those headlines,
The Pudgey thing is really interesting to me. The Collectibles, as the last week or so of like frenzy around the Collectibles is really, really fun for physicals. And then we didn't spend too much time talking about it yesterday, but the Patrick Amadon stuff as well. I don't know, maybe if we save that for a different show, but got up
above 70 minutes or something like that. Over 100? Awesome. Yeah, so that's a really, really fun one. We've been talking about innovation. I know I've said it for the last few days here. Such a boring, boring time for a long, long period. Jack has been probably the foremost leader in these trying to do something different phase.
than rip cash, Patrick Amadon, others here recently. It's been a lot of fun. I'm hopeful that these things continue for the next couple of months to years so that our coverage or lucky trader and our ability every day to talk about things is amplified with funness. No, it has been nice to see where we're slowly building some momentum in this very
market out of these artists like the Alpha Centauri Kid, Broken Keys collection, what Rip Cash is doing and now with Amadon kind of stacking some really cool new drops. So you love to see that. I want to come back to you Logan with some marketplace innovation. I want to tee up Emily here first. Emily was on your mind.
I think the movement in NFTs that we're seeing is really interesting, especially on the heels of that first wave of shakwans. And my hope is that this sparks kind of an innovation round that's gonna bring more attention to projects.
That I've been doing interesting stuff and kind of like leaves the rest in the dust and that seems like That's the direction things are going in so I don't know I could It could be Q and up to be like a pretty interesting somewhere in the market in general and then I mean the China China waking up thing is again
really interesting especially in regards to like the metaverse and I don't know who who knows what's really gonna come from it but what's what's starting to start to come to the top of the headlines is definitely a clue I think. Do we think that China is coming
coming from MeeBits like Sergido is trying to tell everyone. You know, on a serious note, it was interesting. Some of the articles I was reading, the Metaverse Arms Race, some of the, it's like these cities in China are kind of battling to who's going to have the best Metaverse programs. And they're already projecting out like 50
$50 billion in revenue for 2025. And that's soon. So clearly they're ramping up. China building a metaverse is like particularly interesting just because of culturally how China functions and like like China
like a, China doesn't have access to American internet under regular circumstances. Like when they get it, it's because they've gone on to a VPN. It's like a very closed culture country if that makes sense. Like the biggest tourism market
China is Chinese like it's people from other parts of China so to to be raising to get something out technology wise that could make that experience more I guess like less less frictionful is kind of a
interesting perspective and you know it's like the next big city in China is looking for WhatsApp you know right like they're trying to make their name they're trying to attract people to it and kind of like revive themselves so who knows I don't know yeah I mean it feels like one of the biggest stories to watch
I think there's a lot of sentiment that, okay, we'll believe it when we see it. There's been this common narrative. Just wait till Asia wakes up. They're going to buy our bags. That type of thing. I feel like there's something about mebots that do particularly appeal to China. I don't know what
it is, but like that imagery just fits right in somehow. I've heard that before. It has been some some comments intimate ghost thoughts on your end. I just want to chime in on China and I think that when we've heard people say, oh, just wait till till Asia or China comes, it's been from like, dumb Americans that probably don't
understand what's going on over there. But my ears definitely perked up when I saw like CZ say that's a big deal yesterday because I think that hearing it from people that have more of the pulse on what's going on over there is a lot more impactful and and something to pay attention to more than when you just have random ship posters on there saying oh wait until Asia comes so I thought it was a pretty big
And basically in crypto so I'm curious for your reactions to this if you have much to say Yeah, I know a whole lot to say about it. It feels like this has been long time coming like magic. He has been working its way towards something like this So you know now with aggregation and then of course The rewards and then plus actually
before this, right? We spoke months ago about the formal rewards program that Magic Eden was unveiling. It feels very much like we're just watching kind of what happened with the Ethereum marketplaces, though they all do every chain at this point for the most part, you know, Blur OpenC, just kind of replaying on Solana for the
or at least the Salona Native marketplaces. So we'll see what happens. I think Magic Eden has been really, really fun and has tried a whole bunch of stuff. I can't really speak to the successes of a lot of the things that they've done. I don't even know what that might look like, a lot of the cross-chain initiatives.
the Bitcoin stuff, the launchpad stuff, they're actively trying, which is better than a lot of things in this market. I think the Bitcoin addition for them has been big. Of all the marketplaces, it feels like the most familiar, at least for me, and if I'm going
to really look to start diving in to ordinals and Bitcoin entities is probably going to be on Magic. So I think that's been big and clearly they've continued to innovate and try to push the needle a bit. So happy to see that coming from them. All right folks, well we are out of time here for day
for today quick plug. I think we've got to say thanks to Bordy Lahn for all in through because I know Ghost was working super hard to get him here. Yeah, no Bordy Lahn love you coming in for the show today along with all of the the Opepins out there. We will definitely be hitting them more on the show.
in the future would love to get any of you up on stage for our next one. Before we go here today, we've got to plug our show tomorrow, one of our biggest shows ever. We've got the legend, Luke and Nets from Pudgy Pinkwood's coming on the show. We're going to do a deep dive into Pudgy Toys.
Pudgy World, his social media strategy plus much much more. So we are very excited for that one. 10 a.m. tomorrow here. But before we go, what is dropping today? It's a quiet day. It's to handful of drops on the radar. We've got figure go coming at 10 a.m. Eastern. So that was just 30 minutes ago. We've got open
edition at 3 p.m. Eastern and then Jack's checks elements auctions are ending today too so those will be something to watch. Definitely a slower day of new drops after yesterday. I say open edition is likely the mint of the day is from the creator of Dippies and Feathers. It's mushroom inspired art described as an