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Lucky Lead (post-rug) with Luca Netz
Recorded: May 26, 2023 Duration: 1:10:19Space Recording
Full Transcription
all right i think we're getting folks back in the room here um i'm gonna play some music let's get
uh let's get folks back in and set up to speed here once we've got everyone up we'll restart the space
thanks everybody for coming back
Three, two, one.
All right, folks, we are back.
I think we've got everyone back with us.
I'm sure some folks will filter in.
And, Luka, can we do a quick sound check, see if I can hear you now?
You can hear me?
I can.
This is amazing.
All right.
Well, appreciate your patience, folks.
All right.
Well, you know, I think let's just get right in to Luka.
We covered our top stories of the week, and I think folks want to hear more from him.
And, you know, Luka, maybe before we get into some pudgy topics, one that is very relevant,
I think one of the bigger headlines of the week, you know, Blur, Blend, BNPL, they're
rolling out new collections on a daily basis.
Pudgies were included.
I think as a founder who cares so much about community building, how do you feel about
the increasing financialization of NFTs and then that narrative that, you know, a lot
of PFPs are kind of turning more towards, you know, shit coins than true NFTs?
I'd love your perspective on that.
Yeah, you know, I think like most, I don't, in my core, in like my soul, I don't necessarily
agree with it, but that's the thing with tokenizing, like the tokenization of things is coming, like
of everything, you know, like they're all, they're going to tokenize everything.
And so, you know, my argument to, you know, the financialization of this stuff is like,
you know, you don't have these tools when buying Picassos and when buying, you know,
first edition Pokemon cards.
So it takes some of the culture away from it, but there's nothing you can do, right?
Like I could sit here and I could complain and champion, but I'm not going to do anything.
Right.
It's the freedom of the space, you know, so.
Of course, I'm curious, what's your thought on maybe founders' roles
and kind of avoiding that, you know, the narrative that has kind of built,
kind of, it got louder during this bear market, right?
That, you know, people are trading PFPs like, you know, like shit coins,
the concept of community is going away.
You know, I'm curious for how, you know, you've combated that
because I feel like you've done a pretty good job.
Yeah, you know, it's one of those positions where I need to know my place
and my place is not, you know, like that, me focusing on that stuff
is not going to serve my holders well.
And at the end of the day, my job is to serve my holders and to bring them value.
Now, if you were to ask me and like my perspective here is,
I think if anyone's going to lead a charge here, it's Yuga.
They've got the treasure chest and they have the leadership and the buy-in
from the entire space to lead that charge.
And I would argue they're the ones that are affected most negatively by it
because they have a monster valuation and the removal of royalties
and, you know, all of these toolings, I think, puts a chink in their armor
more than it does everyone else because they have revenue expectations to meet.
And that, I think, is, you know, forcing them to make certain decisions
that they otherwise wouldn't have made.
And I think if anybody's in a position to lead that charge
and to galvanize other projects and to spearhead what it is to, you know,
fix these problems, I honestly think they're the only people that are capable.
The position that I'm in right now is I still need to win.
I still need to prove myself.
I still need to succeed and I can't be focused on things that don't directly benefit our holders.
I am thankful enough to have a business model that doesn't necessarily leave me dependent
on, you know, some of these instruments.
And at the end of the day, I do think there's an argument to be made
that some of these toolings, right, like will also be a real net positive
when the supply and demand mechanics shift to a bull.
And, you know, I could totally see that, you know, having more explosive moves to the upside
the same way that perps, enabling perps had for crypto, right?
People underestimate, and this is like, this is really true.
This monster move we had in 2020, it wasn't a monster move and three arrows and Luna and all
this, this reigns true in the, just the token side of, of crypto.
We don't have these monster, unbelievably monster moves across the board.
If it's not for leverage, like you just don't like, you think crypto had its move in 2020
because all of that spot was being bought, of course not, crazy.
That was like a leveraged bull and people just got blown up at the top,
but it was a leveraged bull and, you know, with, you know,
Blend specifically is a leveraged tool.
And, you know, I think we had our 2017 moment.
I think we're going through our 2017 to 2020 moment right now for NFTs.
I think this is that, this is that, right?
And then when we have our 2020 run, that monster run, a lot of it's going to be driven by leverage
and then everyone's going to be singing the praises of blur, right?
I think I have more concerns about like the royalties and, you know,
when I, I actually saw this the other day, cause I traded NF, I traded an NFT yesterday
and I saw that OpenSea is charging two and a half percent marketplace fee and a 0.5% creator fee.
That seems broken.
These are the things I think I'm, I'm personally more passionate about the tooling
and the infrastructure I can't control it.
And, you know, when in a bear, it definitely is a net negative,
but in a bull, I think there'll be a net positive.
And, you know, I, I, I can only have an opinion.
You know, I, I try my best to remain as neutral as possible
and try to be the intermediary and give both sides.
It's not my job nor my position to, you know, spearhead this.
I have a, I have my own job in doing it and fulfillment to kind of go down.
No, I, I'm with you there.
And I think I agree with where you're at.
We've talked about it on the show a good amount.
I think we've, we've laid out the pros and cons.
I do think ultimately the infrastructure is great.
And, you know, they're laying out the tools for NFTs to be, you know,
more financial assets and agree.
It will, I think everyone will be singing the praises in a bull run,
but prices going down right now make, make people angry.
You know, you mentioned something that, how this was outside of your control.
I think something that is in your control is kind of how you paint the picture
of the pudgy roadmap and what you and the team are working on.
And there was a very specific quote from Carly Riley this week.
I believe in her combo with Frank D.
Gods and Kevin Rose, where she said,
this is a space which punishes specificity and rewards abstraction.
You know, I'm curious for your thoughts and reactions to that,
because I,
I would make the argument that you've been very specific with,
with your plans with pudgy.
So I'm curious for your thoughts on, on that comment.
Yeah, I think in the short term it has.
And so, you know,
this is actually a really interesting one, but you know,
specificity and I think speculation or almost, or I'm sorry,
I'm like blanking, but I think when you,
when you look at what has driven huge monetary gains and,
and value accrual has really been that lack of clarity and,
and, oh, it could be this, oh, it could be that.
And the imagination with, in combination with, you know,
huge sums of capital being made,
all driven by this hyper speculation,
I think has led to huge rewards.
But this is a different market than I think that.
I actually think today being specific and having specificity is what is going to
sustain long-term.
I think to me,
if I were to quantify it and it's almost like longevity,
it's almost like short-term gratification for long-term joy.
Like which one do you want?
Do you want short-term gratification or do you want long-term joy?
I've always preached that I want long-term joy.
I want long-term success.
And so I actually think this is serving me better because where I think some
projects kind of get scrutinized and criticized as their lack of direction and
their lack of clarity, when you buy a Pudgy Penguin,
you know exactly what you're buying.
And over the course of time,
that's going to serve me really well because there is no,
you can't really FUD.
You can't really complain.
At the end of the day,
you control your own wallet.
You control your own decisions.
I'm going to continue to execute at a high level.
I'm going to continue to go after my North star and do what I said I'm going to do like
I have been for the last 14 months.
And I will continue on that path and continue on that trajectory.
And as long as I continue to do that and stick true to the vision and stick true to the mantra
that I've been preaching since pretty much day one,
you know what you're getting into.
Now, it might not garner the same explosive short-term spike in floor price because I do
something that's very risky and haphazard but shakes out well and everyone's like,
wow, very speculative.
Sure.
But this is a bear market.
I have no interest to do that.
Nobody's doing that really right now.
There's a couple of anomalies out there, but they have a different vision and a different
roadmap and a different thesis.
I'm going to stick to my thesis because I believe my thesis is going to be the one that
shakes out the best over the long term.
And all we can do is work our ass off up until then.
No, I'm with you.
And I actually think that that quote from Carly is more reflective on what the market
was like.
And I think the market's actually getting smarter, at least the folks that are still here.
And I think we're starting to see that in the price action, in the market of which projects
folks are starting to buy into versus just trading against each other on blur every day.
So I'm with you and I think the specificity will be rewarded here over time.
I've got some more questions, but I know Ghost has a few ghosts.
I'll tee you up for one here for Luca.
Yeah.
So Luca, I've heard you mention on interviews previously that you're an introvert, which
I found really interesting as a fellow introvert.
So I'm curious to hear how you kind of navigate that being such a front-facing founder and like
doing all these media tours and doing a lot of very hyper-social things.
It's funny because people think that I'm so accustomed to it or that I enjoy it.
And it actually is like pulling teeth for me.
There's nothing I would love more than just to be in my little rabbit hole, nobody hearing
me speak.
It's kind of an interesting coinketing how that shook out.
Dude, above my introvertedness or my extra, however you want to quantify my personality type,
I want to win above all else.
My competitive nature, I think, trumps any personal personality reservations.
And though I may complain, you know, when I go and have to travel and, you know, you
know, complain to my girlfriend or my dogs about how like, damn, I wish I could just stay
with you guys.
I want to win and I'm going to do anything I need to do to be the number one project in
the face of NFTs.
And I know what the community and I know what Web3 wants.
Web3 wants me to be present.
They want me to show up.
They want me to spread the vision.
They want me to galvanize.
They want me to inspire.
And that's what I'm going to do.
And anything that I think I can do to help win, to help bring this project to the number
one and to being the face of this, I'm going to do.
And I'm naturally a pretty good speaker.
And it's been a huge momentum shift.
You know, when I first started this, I was very much a recluse talking within the community,
but I wasn't very extroverted.
Uh, and how I brought new people in.
And I can almost tell you the day that Frank spoke to me and said, Hey, you need to, you
need to pivot this.
You need to start speaking and, and galvanizing and telling your story is almost within two
days span.
And if I found that date when we first spoke and I showed you the pudgy penguin chart, it's
been up only ever since.
And that's no clinking.
I love your use of that.
Um, I'm just curious, maybe digging in just one level deeper, if you don't mind Lucas.
So, uh, you know, you're an introvert, but you're a natural speaker.
I'm curious, like, do you have any tactical advice or like, you know, how do you prep for
like, like the panel at VCon?
Because like, I've said this a couple of times this week, but, and I live streamed the videos
from VCon.
So if you haven't seen it, go watch those videos.
I mean, your answers were just so on point on message, super concise, you know, no, ums,
uhs, you know, the whole time.
So I'm curious, like what, what's your preparation like, uh, you know, ahead?
Yeah, no, no preparation.
I don't even want to see the questions before I want to stay sharp.
It's like a thing that I do to challenge myself.
I learned really early on.
There was a couple, like I wanted to succeed.
I grew up in a shitty situation and one, and I basically was preparing myself since
probably 14 years old.
And one of the things I knew I needed to do, I knew I wanted to be a businessman and I
knew that the most powerful tool in my arsenal and the most powerful tool in everyone's arsenal
is your ability to communicate.
You know, the, the right level of communication can do a lot of things.
And, you know, you look at all the great speakers of our lifetime, you know, good and
bad have been able to galvanize countries and people to do things that were either, you
know, really positive or really negative, but they were able to do them and they were
able to do them through the power of their voice.
Um, I think for me, I still say like a lot.
I still, uh, still a lot of things I'm trying to refine.
If you've noticed, I've, as of recently, I speak a little bit slower.
I noticed I sometimes go a little too fast and that doesn't really get the message or
the voice across, but you'd be surprised something as small as a pause in between words will make
something sound so much more impactful.
Um, and so, you know, it's things like that, but you know, that's, that's nothing that anybody
here can't go YouTube.
I'm, I'm just a YouTube learner.
Uh, I've been since a pretty young age.
And so I, it's a incredibly powerful resource that I encourage everybody, uh, to try to develop.
Um, it's one of those things that I would not be here today if I didn't know how to speak
well, there's been so many rooms with so many important people that I've been able to hold
my own in that if I didn't have the ability to communicate well, I would have never closed
those deals or secure those opportunities.
Um, and in this situation right now, you know, you know, maybe pudgy, maybe I don't, if I
don't know how to communicate, maybe pudgy penguins isn't where it is today because I would attribute
a ton of our success to my ability to communicate within the community and outside of it.
So that's such great advice.
And I would definitely echo, you know, in life skills, the ability to communicate is up
near the very top.
And then I think developing a voice and figuring out what you have to say.
Um, and I mean, I wish I had your, your gift to gab because it's a lot more preparation
that goes into it for me.
So hearing that, you know, your, your panel, uh, at VCon, what was pretty much, you know,
without deep prep is really impressive.
So you've got it, uh, right now.
So, well, I want to talk pudgy toys for a bit.
Uh, you know, I know you've been kind of going on the circuit.
We've got the shark launch coming tonight.
I say, how high are expectations for this one?
And then maybe like, how, you know, how has the launch gone so far from your perspective?
Are you happy with it?
Yeah, I'm super stoked.
Um, shark toy, 150 made those debut on network.
We're going to follow it up with, uh, there's only really about 130 on network or 120.
There's another 30 that we have releasing with an Asia specific, uh, version of network.
Uh, so Asia's version of network.
We'll have a debut shortly after when you get through that and then get into that.
Um, the toys so far, so good.
Um, uh, total of a hundred thousand different units ordered.
Well, I actually, before, before this space, I got our first negative feedback.
And so now it's interesting because, you know, you look at all the positives, but in consumer
products, it's interesting.
It's a known thing, but there's, you know, the, the negative review is always the loudest.
And so now I'm thinking about, okay, how do I, one, how do you fix it at scale?
Cause I can't be playing customer service, especially as all the orders deliver naturally out of a hundred
thousand pieces to say every hundred thousand pieces are going to be perfect as a unbelievably
misaligned expectation.
I'm assuming, you know, a hundred to 500 of them having just natural flaws and errors.
It's just the nature of math and manufacturing.
And, um, now I'm just foreshadowing how we're going to manage that because, you know, I didn't
expect to sell a hundred thousand individual pieces of toys, uh, in such a short span though.
So I wanted it and I'm very grateful that it happened.
Um, I always come in with an, with a mindset that things are not going to work out the best
way possible.
And fortunately for us, you know, the pudgy toys did.
And so it went well again, I keep saying it jobs, not finished.
I got to make sure all of those orders meet estimated delivery times.
I want to beat them, uh, make sure that as many customers are happy, that the experience
is as happy as possible.
And then I also have to manage, um, you know, the people that, you know, for some reason
the product came messed up and now I need a, I didn't think of it, but I need a, uh, toy
customer service, Twitter protection team.
Uh, cause the last thing you want is the people who is obviously people, you know, bag biases
who want to defend their bags and don't like to see what we're doing and want to push us
down.
So I didn't really think of that.
So now I got to plan that out, but I'm grateful and blessed dude.
And I'm really excited for people to receive their toys and enjoy them the same way I have
been over the last couple of months.
So I was lucky to get a couple of toys live at VCon.
I bought the, the pink plushie, uh, that has the, the blue flower shirt and the polar bear
hat.
I'm, I'm looking at it right now at my two year old daughter loves it.
She named it Hulk Hockey.
Um, and she sleeps with it every night.
Um, so I feel pretty good about the quality of these things.
I'm curious, do you have a favorite?
Yeah, I have a couple of favorites.
Um, I love cowboy pudgy.
I love the gold plush.
I love the polar bear.
I like them all, you know, truthfully, but the, um, the one, cause I'm a gold skin.
So I obviously had the show love to the gold skins.
Um, I always thought when I saw the polar bear one for the first time, um, that it just
like was naturally just my favorite one.
I, I don't know why just with the cross-eyed and the polar bear hat and us being in the bear
market.
And I don't know something about it just resonated with me.
Um, but I love them all.
Um, but probably those three skews are probably my favorite.
Got it.
I think maybe, uh, on an audience question, do you feel like you are reaching a non NFT,
uh, buyer pool with this?
Do you have any data?
I know that's not the easiest thing to parse through.
Um, but I mean, do you think you're mostly selling these to, to pudgy holders right now?
Or do you feel like you've started to, to reach a broader audience?
I'm curious.
Well, we've definitely reached outside of pudgy holders of that.
I can tell you, I think as we saw over the last week, you know, every community and founder
kind of stepped up in a meaningful way.
And for that, I'm super grateful.
Uh, we were intentional in kind of how we rolled this out.
Um, now granted, if it wasn't going to go well, I was kind of ready to rip Instagram,
but I wanted to give a big enough, uh, you know, timeframe to kind of see what the web
three and Twitter audience would kind of garner.
There's very few moments where I ha I will have the ability to have a clear split test
the way that we had at this launch, because eventually as we grow, there's gonna be so
much traffic from so many different places that I won't be able to really delineate what's
coming from where other than like pixels and things like that.
But those things are so screwed up after the iOS update that, you know, it only gives you
a rough pooling.
You know, I know, I know what Amazon's top, you know, being number one on Amazon, I know
what that kind of garners from outside audiences.
So I'd probably say about 80 to 85% of our sales right now has been from the web three and
Twitter verse.
And I'd probably attribute 15 to 20% from, you know, you know, being number one on Amazon,
hitting that algorithm, I just, I've done that before.
And I, and I know how much more revenue that brings.
And so that's probably where we're at today.
But I'm really excited to, I'm kind of working chronologically right now, make sure everybody
gets their order, make sure the experience is great, make sure as many people are happy
as possible.
Obviously, just the nature of manufacturing, there's going to be a couple where things fall
through the cracks, you can't QA every single SKU, it's relatively impossible.
But that is kind of my step one.
Step two is replenishing inventory, which is kind of already doing its thing.
That's not really something I need to focus on.
And then once current orders are taken care of, then I'm going to go wave two on the marketing
and wave two is really all outside people.
Wave two is not going to be, you know, internal in terms of web three and pudgy penguin community.
Then I want to split test our Instagram.
I want to split test paid advertising, traditional, you know, advertising, things like that.
And then ultimately find the pocket and the channel that gives us the greatest return and
then just pour a boatload of money in that direction until it stops working or as it continues
to work, just pour more and more money into it.
And that's kind of how we do things.
That makes a ton of sense.
And I want to come back to your social media strategy in a minute.
You touched on Instagram.
But, you know, I'm curious, as you look at more channels, you know, online has been primary
so far.
Are you are we going to see pudgies on on shelves here in the near future?
Is there anything you can can share on that front or is it still more TBD?
Yeah, so, you know, there's places on shelves internationally.
There's even one domestically.
But I'm kind of just hyper focusing on the like what's here.
It's you've kind of see how we roll things out.
It's super methodical.
And I want to make sure that, you know, when we have moments, they're meaningful moments.
And so the beauty about toys, it's kind of gives me, you know, a series of evergreen
announcements.
That's kind of nice because Web3 is always, you know, asking to, you know, show progress
and to debut things that you're doing.
And, you know, every time there's a new retailer that stocks and, you know, pudgy penguins and
stores, that's a great announcement and a great moment.
And so for that reason, I feel like we're still kind of in the I don't want to start
promoting new retailers, new initiatives when I have thousands of people who have yet to
get their order.
To me, that comes off as insensitive.
So like I'm just hyper focused on getting people their order, making sure that they have
It's fulfilled.
You know, they're happy.
And then I can start talking and hyping up the toys again.
And so I just want to be kind of methodical in that approach.
But, you know, retail distribution is really the story that we want to tell.
I want to be on the shelves of, you know, the most important retailers in the world.
I know what we have coming.
And I think every expectation that you may have about the toys, we will meet.
And it's going to be a pudgy penguin takeover, really starting with that toy launch.
I definitely believe that, you know, looking at just the reception to the toys in my personal
household.
You know, I want to bring us back to Instagram.
So your Instagram, the social media with the Giffys, it's been one of the fastest growing
aspects of the brand.
And I'm curious if you could share more insight to your social strategy, because one thing
that's missing from the Instagram is much talk about NFTs or really any talk about the
toys.
So, you know, I'm curious for your decision to kind of to not start to roll those out
and maybe any other strategy you could share.
Yeah.
So every day that I don't promote a product on the Instagram is a good day because there
is such thing as saturating your audience.
And so the bigger that that grows without me trying to sell something is a good day.
Because once you start selling something, the expectation changes a little bit.
The content will start to shift.
Like we're going to start incorporating the toys.
We have a really clever way to make, you know, genuine and fun content with the toys that are
not, you know, feel like you're getting sold something.
And so I'm really excited to start debuting that.
We're conscious of being able to switch that up and make that, you know, really right now,
there's two styles of content on that Instagram.
And the objective is we really got to get that to four or five different styles of content.
And then once we achieve that, I think we'll really have a brand.
Right now, we're kind of in that purgatory right in the middle where we haven't really
crossed over to where that is like a perfect Instagram brand.
But that's, again, for good reason.
We're really methodical in this approach.
But we, you know, from my perspective, the social medias outside of this are all a part
of the grand plan.
And the grand plan is how do you become the face of NFTs?
And the only way that you're going to do that is through influence and character familiarity.
And the only way that I know how to do that is through growing social media and creating
content.
And I believe we're doing this right now the best in the space.
I made a tweet a couple days ago.
But if you believe in Web3IP, you believe in Pudgy Penguins.
And if you don't believe in Pudgy Penguins, then you don't believe in Web3IP.
Because we're clearly the leaders here.
We're doing everything right.
We're doing everything that a traditional brand would do to succeed.
We're the only ones doing that, in my opinion.
And I'm super excited to lead that charge.
And so that's kind of our thought process there.
It's hard to argue that you're not leading the charge on socials right now.
I'm seeing left and right people getting sent Pudgy Penguin, Instagram posts, stories who
aren't in the space and don't even know what they're resharing.
So definitely love to see that.
I mean, so you went to IP.
So maybe we moved the discussion there.
You know, from your keynote, I pulled a quote, IP is not just a picture.
I'd love for you to elaborate a bit on what you meant by that and kind of how you're viewing the IP of Pudgy Penguins.
Yeah, I mean, I think a lot of people just have a buy an NFT and get sold the keywords of IP and, you know, fall for it, which no fault to them.
It's pretty easy to be gullible in this space.
But IP is not just a JPEG.
That's not what defines an IP.
An IP is a lot more than that.
And even what it means to be an IP, Pudgy Penguins hasn't fully encompassed it, right?
We haven't debuted our story or, you know, our world and our, you know, how all of this ties together.
But there's a lot of things that we've been working on.
That one has been something that we've been working on for the last eight months.
And so when we ship it, it will be fleshed out and it will be deep and it will be meaningful and it will be exactly what I think this brand was always meant to be.
But I think just, you know, sometimes the space gets a little too crazy in there.
It happens a lot.
You know, the character that you believe in is nothing but a picture with your imagination.
And, you know, those things are amazing, but that doesn't justify or warrant an IP just because something is drawn in a pretty fashion and you think it's a good picture does not mean you have a good IP.
And so, and that can even apply to me just because I have big social medias and familiarity.
I really think IP is defined.
I was saying it one way, but I think it's defined two ways.
I think the combination of the two, I think, make a great IP.
One, influence, which Pudgy Penguins has a lot of, right?
Your IP, you can't say your IP is great or meaningful if nobody knows what it is.
So influence, I think, is really important.
A great IP is defined by its influence.
And then I also think a great IP is defined by its story and its characters.
And so I think those are the two things that define a great IP.
Pudgy Penguins unequivocally has the first one.
And then, you know, the next six months will really be about debuting the second part of that.
So clearly you and the team have been so focused on how to use this IP and building process and rolling out tools for your community to use.
You know, I'm curious, where do you think the other projects have failed?
You've mentioned the friction that we've seen so far in Web3.
Why hasn't it worked so far?
I just think it's execution.
There are so many projects out there with amazing characters and amazing pictures and amazing JPEGs with more money than I could possibly imagine in their bank account.
And the only reason why they're failing is, one, I think they don't understand Web3 and what it is to build in Web3.
And, two, they're just not executing.
I don't know what the heck is going on sometimes.
Seriously.
Because do you know how much the $9 million has changed our business?
I mean, it's changed everything.
I mean, the whole thing is it's like a whole different company now that we have money.
I mean, seriously.
And that's $9 million.
That's chump change to some of these guys.
Actual chump change.
I couldn't even imagine if you gave me $100 million, I mean, Lord Almighty, they should be thankful they didn't give me $100 million.
They gave me $100 million?
Oh, my God.
You wouldn't be able to escape this pudgy penguin.
It would be following you like a bad dream.
Like, it would be following you like an upset ex-girlfriend.
Like, this thing, you wouldn't be able to get away from this thing.
It would be impossible.
You gave me $100 million.
You gave me $100 million?
You refinance the house and buy as many pudgy penguins as possible because I promise you it's going to be over.
There's nothing that's going to happen.
Like, it's inevitable.
And I just think to myself, these guys have monster treasure chests, absolute monster treasure chests.
I'm like, how?
How?
Because I'm jumping for joy, bouncing off the walls, the fact that we have, you know, $10 million to our name.
And I'm just daydreaming about all the amazing things that we can do.
And for $100 million, my God, you don't want to see me with $100 million.
Let's just say that.
Yeah, I mean, I would be ready to refine my house.
I've already been ready to refine my house several times to buy more pudgy penguins, to be frank.
And it would certainly be easier to convince my wife.
Now, I'm curious.
Maybe let's dig into that a little bit.
So, the $9 million raise, you know, how has it changed things?
You know, what has been your immediate focus, you know, in the hiring department?
And, you know, what have you done so far?
Yeah, I mean, it gives us now the freedom to build a real company and create real structure.
Like, there was only so much you could do when 70% of your team wasn't getting paid.
Like, think about it.
70% of the team before the raise was not getting paid and hadn't been paid, you know?
Like, so there's only so much accountability you can eat.
Like, out of respect, like, at a certain point, I'm empathetic and I respect the people that work for us.
Like, I can only be over your shoulder so much when I'm not paying you.
Like, what can I say?
Like, I can be like, hey, like, I can galvanize and try to, but if you want to check out, like, what am I going to say?
Don't check out?
Like, I'm not paying you, you know?
Right.
And so there was, like, it was, there was only so much you could do.
It was really just, like, I am so thankful for everybody who took that sacrifice.
I mean, there was some, there was a ton of guys and gals in this company that got paid nada and did it for 10 months, 12 months.
And I am so thankful for them for believing in the vision.
And all they did is believe.
And granted, they had some equity, but it's not like these people are rolling in 25%, right?
Like, they believe in what they had and they believe in creating this company with us.
And so for that, I am thankful.
You know, for us, now we can just hire outside talent.
We can take care of our current group, which has, like, boosted morale significantly.
I mean, I can't tell you how many times things were felt like doom and gloom.
I mean, there was many, many times, many, many moments where we felt just absolutely defeated and we persevered and we pushed through.
Um, now we can take care of the current group, which I think has increased output dramatically.
And now we can actually hire top talent.
I think the two places we're focusing, um, really three places, but I think operations has been a big one.
Um, probably the biggest one has been the creative department.
We're an IP company and our creative needs to meet that.
And so I don't know if you guys have seen, but I think you can already see the beginnings.
Like, I think the Instagram videos now are phenomenal.
Like, they're absolutely, like, at one point they were pretty bad, but now I think they're, like, absolutely, like, you know, people will copy our Instagram strategy, but that's low effort shit.
Nobody's doing what we're doing.
These things are like little 30-second films, dude.
A little 30-second relatable films, and they're extremely well done.
Um, and so content and creative department really probably the one that we've been hiring the most.
And then Lorenzo has been really working hard on finding the right technical team and building that team out.
We had a lot of amazing community members that were part-time.
The problem is, is, like, you can't truly, truly win with a group of part-time people.
Like, everybody on the, except for one on the dev team is part-time, and that's not going to work at scale.
But developers are super expensive, right?
Like, to match their current salaries, right?
Right now even the penguineering team took a huge discount for their part-time work.
You know, to match a, you know, a really good engineer is $120,000, you know, it's kind of where you go.
And so when you have no money, you can't even think about things like that.
So that's why I'm thankful, because we can finally build a core unit and start creating a real culture, which, you know, for the first 10 months, we were just completely scrapping.
Like, complete ragtag team, everybody elite, everybody, like, here for a reason and for a purpose.
But boy, oh boy, was it hard.
Yes, so, I mean, you were scrappy, and I think that was, you know, a part of, well, I'll call it an underdog story.
I think that's fair.
And, like, the chip on your shoulder, how do you maintain that scrappiness now that, you know, you've got the money in the bank?
Yeah, well, this is actually an interesting thing, because, you know, in my building in public, the recent behind-the-scenes that we launched, we could have raised $20 million.
I mean, I could have raised, once we got our lead, I could have raised any amount of money.
I mean, we turned down, like, 20 people.
Like, once we got our lead, every, this is a weird thing in BC, like, everyone waits for a lead, and the second you have the lead, it's, like, money flies in out the wazoo.
$9 million was what I felt like the smart number was.
It was just under $10 million.
It didn't feel spoiled.
You know, it's not enough to go pay, you know, it's enough to pay the mortgage, but it's not enough to pay a salary that, you know, warrants trips to the Bahamas and things like that, right?
I think it's one of those things that it was the perfect amount, and when you look at burn and you look at market conditions, it's, like, okay, we can grow and do our thing, and we have, like, you know, we can get this to, like, a three-year runway, you know, being conservative, being reasonable,
not overpaying, so it keeps us in a hungry mindset of, at the end of the day, when building a business, $9 million is a lot, and I'm grateful for it, but it's not, it's not $50 million, it's not $100 million, right?
Like, it's, it's, it's enough to be sensible and reasonable, and this is the thing, because naturally, if I raise too much, whether I, whether I will say it or not, I will be comfortable.
It's just, like, the way of nature, and I, I, I knew $9 million was, it was a sigh of relief, but it wasn't, like, oh, my God, it's guaranteed success, because at a certain point, you, well, at least in my mind, if you raise a certain amount of money, like $50, $100, $150, $200, $500, like, once you get to those numbers, it's, like, you either, if you lose and fail, it's, like, you, like, almost did it on purpose.
There's, like, a certain number where it seems like it's too much money to fail, because you can kind of create moats in certain places that, like, naturally will make you valuable, but I felt like $9 million was the perfect number for us, for where we felt like the macro market was headed, and what would sustain us over the next couple of years if everything was to go to shit.
No, love to hear that, and what you and the team are doing with the funds and how you've gotten here.
I want to maybe just quickly pull us back to IP, and I know Emily's had a question here, and I think it ties in to Overpass, but maybe, can you share any, any tactical details about how you will kind of facilitate, you know, this IP process, launching it at scale with, with the holders via Overpass?
Can you give our listeners a little bit more insight?
Yeah, I think for us, a huge, you know, problem that we had to solve was, you know, what does a Web3 IP company look like, and what does it really mean to be a Web3 IP company, and what does it mean to kind of, like, spearhead that narrative?
And so there was this common conundrum that was kept reoccurring when I was talking about the vision of Punchy Penguins, which was building a sustainable business, and naturally, when you hear, when you're a holder and you hear a sustainable business, you naturally come to, how does that benefit me?
Well, it benefits you in a lot of ways, and I'm not going to go down to that dissertation, because I think most can think of how that can benefit them for a multitude of ways, whether that's through awareness or sustainability of the company, and the ability to not be forced to squeeze liquidity out of your holders.
I think those two things alone are enough to justify why building a sustainable business is advantageous for the collector, but, you know, I thought there's a beautiful story to tell that, you know, imagine we create a billion-dollar-a-year business, which is possible.
You know, how do you accrue value to holders, because the elephant in the room, and I understand the elephant, because I used to, you know, I love this elephant, this elephant's what made me excited about NFTs, but holders want monetary gain, that's just what they want, and I don't blame them, I do too, I did too, right?
Like, nothing makes me more stoked than monetary gain on my NFTs, so I'm not going to pretend that that's not what they want, because to pretend that's not what they want is not understanding.
I understand the business that you're in. I want to make things that people want, and I want to do things that people want, and I get people excited.
Well, right now, monetary gain is controlled by two things today in the NFT space. The first one is price going up on the floor, which we're in a bear market. There's only so much I can do.
There's only so much your price can go up, and I think comparatively, anybody who's a Pudgy Penguin holder is happy they are, because our price definitely is not going down.
So I'm thankful for that. But there's only so much I can do there. All I can do is execute, and, you know, eventually, it's dependent on, you know, macro liquidity coming into the space.
So that's one. But two, which is the one that excites people the most, is the airdropping of things. But what people don't understand, the airdropping of things is actually a liability.
Creates a lot of problems. And so the airdropping of NFTs is a liability because it adds more supply to your digital ecosystem, right?
More supply, not enough demand. Eventually, everybody starts selling everything, and then you have collections that are worth zero.
So me airdropping more NFTs, though I will do it one day, I'm only going to do it when the supply meets the demand.
And the only way that I can tell that we have more demand than we have supply is when little Pudgies are at multiple ETH and big Pudgies are in double-digit ETH.
And then maybe I can consider thinking about airdropping more supply and giving that monetary value.
But until then, I would be a fool. I mean, airdropping things when, you know, what do you want me to airdrop you?
An NFT that's worth one ETH? Great, that's not going to change your life, right?
And then the other one is the token, and the token is its own liability.
Yes.
Because once you have a token, you become, you're in the token business.
You know, you have to make sure that token doesn't completely nuke, because if the token nukes, everything nukes.
And it's very easy to nuke a token.
And so I also want to give a token to my community one day, but I'm not going to do it where we are now, not in this market.
I'm going to do it when there's a raging bull and everything, all the wind is in our sails.
And, you know, the NFTs at a floor price that justifies a token, you know, they all align and they make sense.
Like, this is chess. We're not playing checkers, I hope everyone understands.
And so that's kind of how I'm looking at things.
And for me, you know, when you look at those two ways of accruing value, airdropping NFTs and airdropping token, at its core, it's Ponzi-nomics, and it's not sustainable.
It can't, because you can only airdrop a token once.
That seems to be the major run-up and the major event, right?
And NFTs, eventually, you know, you crush the supply and demand and you create too many NFTs and now your ecosystem is saturated and it's less cool to own NFTs than that ecosystem.
So, if those two, and the best advice I ever got was from a community member who told me really early on, he said, Luca, your job is just as much about executing as it is not creating liabilities for your community.
Think about this, and think about what I just said.
If you really understand what I just said, it will really hit you like a brick wall because it's 100% true.
Like, my job is just as much not creating liabilities as it is executing and creating value.
Because a lot of people up in this space have just destroyed themselves.
Nobody really destroyed them.
They just destroyed themselves by trying to meet imaginary expectations that actually didn't serve the best interests of the community.
And so, from my perspective, I was like, okay, well, they want value.
I can't control floor price.
I mean, I can control it to the best of my ability, which is showing up every day and providing value and executing.
So, I feel like I do that in terms of control.
But other than that, I can't do anything.
And I'm not in the position to airdrop any more NFTs because my floor price for my main collection, my subordinate collections, are not high enough to justify new collections.
Not enough demand for the supply that we currently have.
One day there will be, but today is not that day.
And tokens I can't do because the wind isn't in my sails, and I don't want to create that liability today.
I want to do it one day and create that value to all of our holders because Ape Airdrop was a great day for me.
But that day is not anytime soon in my foreseeable future that I can tell.
So, how do I accrue value to holders?
How do all NFTs?
And this is not just a problem for Pudgy Penguins.
This is a problem for every NFT project and every NFT founder.
How are you going to accrue value back to holders?
Question mark.
How?
Well, to me, I think the answer is licensing because what I do have to do is I do have to make real money.
And the reason why I have to make real money is because I have to be sustainable.
And I have to be sustainable because if I'm not sustainable, I will ultimately turn to my community and extract liquidity from them.
And if I extract liquidity from my community, that will ultimately screw the whole thing up.
So, I have to be sustainable and I have to create products, right?
The only way that I know how to be sustainable is creating products, whether that's toys, collectibles, T-shirts, hoodies, whatever that may be.
And when I use Pudgy Penguins in these products, instead of making my own characters, I can just license that from the community.
Oh, then all of a sudden the success of what I think is a necessity for an NFT project of making real money.
Now, that value is intertwined a little bit.
Now, it's not intertwined in the form of 25%, but I also have to run a fiscally responsible business.
I can't be a fool.
And so, I try the best of my ability to give a reasonable amount in which they can participate in the upside and they know that I'm not forgetting about it.
But I think this supersedes just product when I create content.
The more money that I make in the real world, the more content that I'm going to be making.
The more YouTube shorts I'll be making, the more YouTube long-form content I'll be making, the more Instagram posts we'll be making because we'll be hiring more content creators.
And if I'm making more money, it's my job to scale the business and do more, create more content, create more characters, create more mediums in which people can see the Pudgy Penguin IP.
And when I do that, that means I'll be using more Pudgy Penguin characters.
And so, can I pay them to use the characters and content?
And then all of a sudden, you have a way to license thousands of characters a year if you grow big enough, right?
Because, you know, if I paid you for an Instagram post, then that seems like value.
Now, there is a drawback to this.
There's ways that we're working on circumventing how these can go wrong because, you know, unfortunately, you know, NFT holders price in value immediately.
Though, in the traditional world, you know, a 7% cap rate on your real estate is a great cap rate.
If for some reason you give them a 20% return on their investment, NFT people love to FUD that.
And so, you know, got to think about the math and making sure that it all kind of shakes out and makes sense.
And people don't overly try to game theorize, you know, what those value distributions look like.
And thankfully, I have a lot of smart community members helping try to solve this problem with me.
But the overarching principle is the most sustainable and low-hanging utility that you can provide for your community is licensing.
And this is what Pudgy Penguins has kind of spearheaded since we came into the space.
This was our first big narrative when we did that with the toys.
Instead of making the toys ourselves and just saying, hey, community buy the toys,
I think we showed a huge level of understanding and included the community in that process and actually licensed the IP directly from them.
But ultimately, in this process, we found a huge problem, which is licensing IP in Web3 is hard and it's expensive.
And I know why Novo did it before us because it's a pain in the butt.
And so we thought to ourselves, well, there has to be a Web3 way to license IP.
And we figured that out.
We have a GigaBrain CTO in Lorenzo, as well as our Penguin Earring team,
who collaboratively figured out a way to license IP in Web3 at scale.
And so we built this tool internally to solve an internal problem to meet our thesis and our vision.
And ultimately, after we kind of debut this with the Pudgy Penguins,
we'll probably open this up shortly after to other communities to use the technology as well.
And so this to us, I think, is one of the most important things that any NFT project has built for the space.
I think it solves one of the biggest problems and ultimately makes what I believe utility easier to provide from company to holder.
And I believe this is how it's done.
And so that's Project Overpass.
We'll be releasing dates on it pretty soon now.
But that's the brief TLDR and alpha for Tyler and the lucky lead.
Wow.
Wow is basically all I can say.
I can't wait to get the transcript of the playbook that you just walked us through in the past 10 minutes.
And I think the advice to other projects, to folks thinking about launching, not creating liabilities, is just so important.
I don't know that I'd really thought about it like that before.
But just at every turn, at every key moment, just stopping and say, is this going to create a problem for our holders?
And if yes, maybe don't do it.
And I think that's something that you've done a really nice job of.
And of course, I think one of the most impressive things about your tenure as owner is not diluting the brand.
And I think all holders are certainly appreciating that.
You know, Luke, I want to do a quick time check with you.
We've had you for an hour.
I think folks are loving the discussion.
They keep pouring into the room.
Do we have you for a little bit longer?
Yeah, we can do.
I'm pretty sure I have another space.
Apparently, I have four spaces today.
But I like you, Tyler, and you're a pudgy penguin.
So we'll go a little bit longer.
I've probably got another 10 minutes.
Okay.
Awesome.
I really appreciate that.
Ghost, I know you had a question regarding community.
I think Luca just kind of touched on community a bit.
So I think it's a good segue if you want to go in that direction.
Yeah, sure.
I always have found the balance of trying to take feedback from holders and building out your vision as an interesting challenge in the NFT space specifically.
As there's like a lot of often loud or angry, irrational voices that come, especially when price isn't always going up.
So I'd love to hear how you strike that balance, especially as someone in the unique position taking over a project that kind of already had a built-in community with its own challenges there.
Yeah, I think one of my edge cases up until this point has been, you know, a couple things.
The first one, I've been very clear since day one what it means to buy a pudgy penguin.
So if price goes down for some reason, I will have empathy and I am optimizing for the person who bought the top always.
It's, I know exactly what it is to be an NFT collector.
I know exactly what it is to be down 50% on your money.
It does not feel good.
And I don't want people to not feel good.
I want people to feel good.
That's like my intent.
And that's my goal.
Like I want to optimize for that.
But at the end of the day, I can't control things that I can't control.
And I've been very clear on the expectation.
It's one thing for me to move the expectation, right?
Then you can be resentful and then I'll have to take accountability and then I'll have to fix it.
But at some point, there's only so much I can do.
And all I can do is execute and continue to drive this vision forward.
That's one.
Two, I think I'm in a unique advantage in this space.
And it's, I'm probably one of the only ones that has this unique case and can say this.
But I've really never taken from my community ever.
I mean, I've done so much to buy this thing for two and a half million dollars and take it over to give it a chance to succeed.
And so far, I've done a pretty good job.
And so that's an interesting thing.
Like how much can you give to your community versus how much do you take?
Well, in the Pudgy Penguin ecosystem, since I've taken over, I think there's, I mean, I would be remiss to find anybody to say that I've taken from them because I haven't.
I've done nothing but give my life and my time and my money to be in this position to bring them value.
And I think there's a mutual respect.
I have respect for our holders.
I have respect for the people who really set up to the plate and, you know, go above and beyond for this community.
And I think they have respect for me.
I think that's really important.
I think there's a mutual respect.
It's not a respect built off of, you know, my name or my pedigree.
It's a respect that I think is pretty genuine.
And I'm really grateful that we have that relationship.
And so, you know, I think those two things in combination have kind of put us in the position that we're in.
And I think that's that.
I love that answer.
Maybe switching gears here, Luca.
So we got a great question from a listener in Emily.
She says, can Luca speak to the role AI, AR, VR will play in Pudgy Penguin's content strategy?
What does he have in mind for building immersive and interactive experiences?
I love that question.
Yeah, that's a great question.
I actually had a giga AI idea, brain idea.
I know Lorenzo's in the audience.
It needs to be revisited because Snapchat has AI, Lorenzo.
I just saw it.
Snapchat, you can go talk to it.
And I think it says some wild things.
So we've got to figure this out because I have the most giga brain AI idea of them all.
And it's not that hard to execute on relatively.
And so we have to push the boundaries.
I mean, we fired two people.
They got replaced with ChatGBT.
I mean, I'm a ChatGBT wizard.
I'm like really leading into that thing.
It's just like superpower 101.
I highly encourage.
I mean, I don't want to give it too much power because then you almost like fry your brain and become a vegetable.
And I have to stay sharp.
But there's moments where you can leverage the heck out of that thing.
And it's extremely powerful.
VR, I'm not a believer in VR.
Because I get motion sick.
And I think there's a lot of people like me.
Though I enjoy it.
I think we're a long ways away from VR.
I actually think AR is the future.
I think AR is so much more feasible.
And so much more fun.
If you ask me.
In terms of what I think the potential is, I think VR is cool for like watching a basketball game or like, you know, doing things like that.
But me personally, AR, I see a future for us.
I think, again, I'm one of those that likes to work chronologically.
I want to tackle what's right in front of me.
I can sit here and daydream about the future.
But, you know, getting obsessed with the future is to neglect the now.
And now there's a lot of things I need to do.
And so if we were to get into anything, I love AR.
AR would probably be my next great step.
But I'd probably go AI, AR, and then VR.
But VR, I think, is 10 to 15 years away, realistically.
It's so good to hear you say that.
So what's interesting, I have a few takeaways.
So I was able to attend Gary Vee's press conference on Thursday morning before VCon really launched.
And one of the things he said that most founders get wrong is they focus on yesterday and tomorrow, but not today.
And, you know, pushing forward and executing, you know, with what you have to do today, tomorrow, to move the brand forward.
And it feels like you totally get that.
And then, yeah, I mean, embracing chat, GPT, AI, certainly we're doing that over at Lucky Trader.
It feels like, you know, anyone who isn't starting to learn these tools will be behind here in the near future.
We've got a few minutes left.
I might just go kind of potluck questions.
I think one of the most interesting things I've heard you say in the past couple weeks that I didn't expect was around gaming.
You know, you hinted at gaming at VCon.
In your keynote, you know, you shared that your perspective that most Web3 games are too complex.
You know, I'm curious, one, if there are any games out there in Web3 that you think have done it well,
and then maybe any insight into how you might incorporate gaming into the Pudgy eco.
Yeah, well, I think there's one game that's done well, and I think we'd all agree.
It's Axie Infinity.
Other than Axie Infinity, who's really seen success?
I think that's, respectfully, I said it in the most respectful way possible, by the way.
Like, who actually had users?
I define success by users.
Who's actually using the thing?
I mean, right now, nobody's using anything.
I think Axie, even today, is the dominant force.
I actually had a call with the founder of Axie two days ago,
and it was crazy when he told me that they are the highest-grossing NFT of all time.
$4.2 billion in sales, more than CryptoPunks,
and no one talks about Axie Infinity and Axie Infinity NFTs.
I'm like, oh, my God.
It's been right in front of us this whole time.
We're just all obsessed and looking at these very niche,
we look at what we want to look at and what we think is cool,
and so it's an interesting culture.
But for us, I have this thesis, top of the funnel, huge brand awareness,
and then eventually it trickles down to the NFT, right?
And I always thought, and I took the word education too literally,
okay, how do I take the Instagram follower,
which one day there'll be 10 million of,
how do I take the TikTok follower, which one day there'll be 10 million of,
and how do I take all of the YouTube subscribers,
how do I take them and actually make them buy the NFT?
Well, my mind initially went to educating,
and I took the word educating very literally.
I basically thought to myself, well, how do I, you know,
do I create an info product?
Do I create a course?
Do I create, you know, how do you educate them
from going from follower to NFT collector?
And I took the word education too literally.
I actually think how you educate them,
to me, that middle of the funnel has become pudgy world,
where I am an Instagram follower,
and I now buy a toy,
and the toy has this QR code,
and within three minutes of scanning the QR code
and following the instructions,
I will have now just Trojan-horsed my Instagram followers
and my TikTok followers
and my Facebook followers
and my YouTube followers,
I will have then just Trojan-horsed them
into creating their first ever Polygon wallet
and collecting their first ever NFT
and hopefully, you know,
them being able to sell some of those NFTs
and really get the bug.
All for 20 bucks,
all with a three to four minute sign up.
That's innovation to me.
That is how you do it.
And then all of a sudden,
my top of the funnel
and the story on how they get to the NFT
becomes pretty clear
because if I can create a world that's fun,
which thankfully I'm no game developer,
but again, I'm not going for a Fortnite
or a AAA video game.
I want to go for something akin to a Webkinz
or a Club Penguin
or a, you know, Animal Crossing.
They're more complex
than I think people give it credit for,
but again, not Fortnite,
not Call of Duty.
Pretty straightforward,
pretty achievable
with the budget constraints
and, you know,
what's kind of out there.
And use this toy
as a distribution mechanism
to get people on
as well as this huge follower base
and if they have fun there,
then they will stick
and if they stick,
the likelihood of them
actually going down
the Pudgy Penguin rabbit hole
and buying the NFT,
I mean, they'll be integrating
with holders,
they'll be chatting,
people will be like,
do you own a Pudgy Penguin?
They'll be like, what?
Like imagine a world
where millions of people
are on this, right?
And the one thing
that I think we have
that nobody else has
in crypto and Web3
is I think we actually have distribution
to get users on
where everyone,
I think the gaming stuff
gets a little corny
and like, okay,
we've heard it a trillion times,
but they don't actually know
how to get people on there.
I do.
And I can do that one
through the toy,
but I can also do that
because there isn't a streamer
or influencer or celebrity
that I can't get in contact with.
That is part of my superpower.
That was,
if you know my history,
know my story
and how I became successful,
it was,
you know,
I've lived with every major celebrity
and influencer
like you wouldn't even imagine.
Like that is my background.
It just takes me
one Aiden Ross stream
or speed stream,
which I can easily get
of them playing to get,
okay,
another 10,000 people,
another 10,000 people.
Ultimately,
you compound that over time.
As long as the thing
is fun and sticky,
right?
it eventually will lead
to what I believe
is a cascade of,
wow,
we're playing this.
You're already trading
NFTs with the skins.
People who fall in love
will want to take
a deeper dive.
And so you subsequently
have just educated them,
but you educated them
through fun and experience,
not through an info product.
And so ultimately
for me to achieve my end goal,
I had to go in this direction,
right?
Because I had to create
something fun and exciting
for people to digest
and for people to really
take a deep dive
without having to
jam keywords
and,
you know,
info products
down their throat,
which ultimately
I don't think would work.
And so it's all about
the Trojan horse.
That's why our whole
marketing campaign
has been around
the Trojan horse.
It's about abstracting
the blockchain layer,
getting people excited,
getting them familiar
with digital collecting
and integrating
with their friends
and having fun.
And then ultimately
they'll get the bug,
which will lead them
you know,
collecting the first editions
and the origin story
of this whole thing,
which is big
and little pudgy penguins
accompanied by rods.
Well,
I love the,
the Trojan horse concept.
I'm right there
behind you.
I think you've nailed it
on the way
to go mainstream.
And again,
I personally,
I think pudgies have
as good of a shot
as any brand
into,
to getting into,
to mainstream users.
I'm happy you,
you were able to tie
that discussion
back into pudgy world
because that's one thing
we really hadn't had
a chance to hit on.
But Luga,
man,
I so appreciate your time.
You've been incredible.
Is there,
is there any,
any last comments,
anything you want to leave
our listeners with here today?
just thank you for your time.
And I might have to,
I'm going to eat a sandwich,
but I think I have to jump
into another space.
So this is a back
to back to back.
Well,
man,
I appreciate your,
your ability to just
to jump into these spaces
all day,
your dedication
to the space
and telling your story
to our listeners.
So we,
we greatly appreciate it.
Well,
I think I can speak
for my co-host
and all our listeners
and saying,
thank you Luca
for jumping on.
If you're interested,
check out that
Sharks launch
happening later today
to Shark Toys.
I'll be watching
closely myself
and give Luca
all the Pudgy Penguins
all of that.
Well,
folks,
I think that is going
to be our show
for today.
But before we drop,
as always,
what's dropping today?
So we've got
a few drops.
We've got the memes
by 6529.
That actually came out
20 minutes ago now.
We've got Holy Script
by Sarah Script
coming at
1.30 p.m.
Eastern.
And then
Ooze Friend
Tries the Guitar
coming later tonight.
A slower day
of drops,
but a few highlights.
I think that Jack Butcher
is doing today's meme card.
Fresh off the massive success
of Chex Elements.
This may be the highest profile
meme card of season three.
Supply is just 360.
So it's likely going to perform
well on secondary.
So maybe check that one out.
And then calligraphy artist
Sarah Script
is doing an open edition
at a relatively low entry
later today.
That's going to be 0.018 ETH.
If you like the art,
check that one out.
All right, folks.
That is it.
That is our show
for today.
We will be back
on Tuesday
at 10 a.m. Eastern.
No show on Monday.
It's the holiday weekend.
Enjoy your holiday.
Thanks to all of our listeners.
Thanks to my co-hosts.
Everyone,
enjoy your Friday.
Let's make it a great day.
We're up on night
to get back in.
We're up on night
to get lucky.
We're up on night
to get lucky.
We're up on night
to get lucky.
We're up on night
to get lucky.
Bye, everybody.
