I got what you want, you know what I love, I listen to friends that don't know what the best of you I want you, it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it's it#
I'm flying you gotta follow out of your rows yeah, it's I'm making fun of I'm just saying I wanna lose, let's go through I wanna wait a while to win this broke broke broke I got two bitches in the coke coke coke 42 in the bottle, but it's all 4-2 in no game, I'm playing on you, yeah take a chance, let's go shopping
I got what you want in the middle of all this in the front and all the way best for you I want you in the middle of shit in the west of Moa region where you move it I'm sticking like some poetry got you doing all the things you never do over it you got this smile in the five of southern Georgia where you take
I'm always put you first, never put you last, where you shake that ass, maybe one doesn't cash
I got what you want in the middle of the room, don't listen to friends and you know it's best of you. I want you, yeah, I want to listen to you. I got what you want in the middle of the room, I got what you want in the middle of the room, I got what you want in the middle of the room, I got what you want in the middle of the room, I got what you want in the middle of#
I wish you wanted me not to move I was in the front and you didn't know it was best for you I want you in the end of a shoot
I think I'm in love with cigarettes and often I can't tell these kids in the streets and nothing hard fast in the name I've been moving concerts like if they know pain but I know I'm so excited I'm so excited, whoa, whoa, whoa, whoa
I close my eyes I see the vision of this waiting got me lift the poor four and then I finish tonight I saw my mama that I'm with you got a salad is my kitchen metal finger to these bitches up I
I'm wasting too like the flow, hey, sody says you love me, I told her, oh, you're the only one that lays here, so I'm trying to put your brain piece, how this nigga's talking about it, say it, take me away, stay, leave me, I'll be back, say it, so I'm sorry, don't wait this face, shit, I'm sorry, don't wait
I'm so tired of it too I'm so tired of it too I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired of it I'm so tired#
Good morning everyone, welcome to the modern market. We run the show for 45 minutes on Monday to Friday at 7 a.m. Eastern time 12 p.m. GMT every day of the week. We discuss all things to do with the modern market. That is the crypto market, the NFT market and how to make money by leveraging the internet and
the latest technologies. My name is BCHECK, I'm a UK teacher and lawyer, I trade NFTs, collector NFTs and write about NFTs and I am the author of the snapshot which has pinned up top and goes out daily on Twitter and one time per week in use letter form. I am joined by my legendary co-host Legendary, the OG NFT collector
proceed with caution and even exercise some of your own judgment. With the out-of-the-way legendary, how are you doing? GMGM. I am doing quite well. I upgraded my screen setup just to be able to take this picture for today's spaces. After we had the discussion yesterday on
me working on just the MacBook and you working on three screens, I filled the peer pressure to upgrade that set up myself to access more information. But I do remember yesterday me pointing at everyone in the chat in the spaces towards that Adobe Generative Phil program
And I have got a feeling that you know I know that you're very proficient with this type of stuff. Would you say that that's something you would be able to create with the technology? Is it necessarily a real photo? I'm asking me if it's again fake news that I'm sharing and not a real picture or if I just could do it.
dangerous question to answer. Yeah, because I'm leading you down a path here. Once I established that yes, you are capable of producing that via AI, then we're talking, then I can kind of I can roll with that a little bit, right? Probably, yeah, but I did play around with Adobe Generative Philmore yesterday.
And it's quite impressive that if you add multiple objects to it, for example, you add like, I know, a car in the body of water, similar as they do in one of their examples, that there will be a reflection of the car in the water. So the generative content interacts with
each other and that's extremely impressive. Yeah that's pretty pretty down impressive. I do think it's something we want to explore more. One of the things on my end that I've been thinking about since I've been here and Dubai is that I give up. I give up on a give up on me
people, it's so tough. Why? Because everyone's an AI, or no more real, it's just so difficult to actually coordinate in a city while also trying to work and do other things. So I think it's done
I've only got a few days left. I have managed to meet a couple of people, but I think that's enough, you know. How many people can you meet in a week? That's a very good question. I mean, did you have the chance to go to any event as well, or did you like mostly do one-on-one meetings? One-on-one in the end. Gotcha.
any meeting that stood out in particular.
Yeah, actually, I'm meeting with my friend who I used to go to school with from like a lot of years ago from when we were 11 years old, so not a strictly professional meeting. But it's interesting because everyone who I meet outside of the space, whether it's someone I've known before,
will not as super interested in the paths that we have taken, not only because of the money involved and like NFTs, blah blah blah and the tech, but also the kind of broader path of, you know, just going out on the internet, creating the following
doing all this stuff because everyone seems to be slightly disheartened by whatever job they're in. And once you've created an audience, you really kind of take it for granted in some respects. But the people who do not have one feel really lost without one. So that's something I've just been thinking about in the back of my head.
And do you already have your go-to story if you tell someone outside the world of Web 3 what it is that you're doing?
I tried to break it down into as short a way possible. Maybe I'll just go with the thing we said yesterday where I delivered the news, some real news and some fake news. That's the new way to wrap it up. So let's get into some of the real news.
news for today before we get into the headlines and the price action. If you'd like to contribute on something we speak about today, do request now, we will be bringing people up on stage throughout this segment. And if you want to follow along the first slide of the snapshot is pinned up top, it has the details that I am about to share. Please do like and retweet it so we can
increase our reach will be referring back to it in a variety of ways. So let's get into it starting with the price action. Crypto is down a touch today. So Bitcoin was down 2%, ETH was down 2%, ETH was down 7%, Bitcoin is just over 26k ETH.
it under 1.8K now and 8 is down at $3.2 so that's quite a significant dip in 8 after a while. In terms of the NFT volume, the total volume is at 32 million, it blurs at 16.7, the OpenC has been at 6.
most of the week. Top collections, a little bit up actually, board apes above 45. Again, crypto bunks just above 50 mutants still underneath 10 at 9.5 and a Zuki at 14.4 down just a touch. In terms of the three headlines that we have,
Number one, crypto to become officially legal in Hong Kong. I always knew that it was illegal in China and some respect, but I didn't quite understand the relationship and it was an interesting link that nine gag the CEO of Memelands shared to try to give the context of Hong Kong
relationship with China. That's interesting to read. Number two, un-minted Chromis squiggle auctions ended and 186th was raised. The floor of Chromis squiggles is just over 10. These were getting sold between 18 and 19. And finally, Nike.switchpubbxel went live yesterday and there were
further mint troubles, they seem to be constantly running into problems there, so that's fairly frustrating for them and people trying to buy. So those are the numbers, those are the headlines, literally what is taking your interest first off? I definitely think the China Hong Kong news is super interesting.
I think it was a couple of weeks ago that I did a thread on blockchain tech in China because I feel like not many people know that it's not blockchain that's been per se, it is cryptocurrencies and cryptocurrency trading that is banned. So it's
essentially in China they build a decentralized blockchain infrastructure, but that is in a way as China has a centralized administration, I guess, is the right way to put it. And its aim is to allow companies, government institutions,
hand that Hong Kong being their special administration zone will also allow for cryptocurrency trading and to see how this is going to pan out in the future. If China mainland will also ever open up to cryptocurrencies per se, but it's
It's quite interesting if you look at it and try to put it in one sentence, they have a blockchain without cryptocurrencies. And now we are a bit in a season where we speculate on meme coins that are just memes without any kind of utility behind them. So it's a bit of the other way around in a way.
Yeah, I see what you mean. Let's, I'm just going to summarize for the people just to get a little bit of a summary understanding of what exactly was said by reading some of Ninegags tweet. He said because I think the thing with China one of the funny things about it is that we basically
don't know what's going on in that side of the world and we definitely don't get perfect information. The thing that I always hear is about the Chinese market potentially buying our bags, maybe they're waking up and selling our bags, that seems to be the level of speculation and understanding what we genuinely have what's going on. So I didn't
even know some of these details. I think it's helpful to get some actual knowledge on this. So he said for people who don't understand Chinese and Mandarin, there was a news video which CZ, the CEO of Binance, shared where he said that it's the Hong Kong's securities regulator which will start regulating virtual assets
trading businesses in June, which and that means that retail investors may start trading through licensed virtual asset platforms soon. So sometime in the summer perhaps that sounds like and as you said you mentioned Hong Kong as a special administrative region that's what it is of China under a one country
two systems, although crypto is still prohibited in mainland China, it will be officially legal in Hong Kong. And then he went on to say, as a founder, born and raised in Hong Kong, running a web 3 company based in Hong Kong, I can tell you it will not be smooth sailing ever after. So there are still many
but it's definitely a great start. So I think that's an important additional context in the sense that people might read the big headline, which was also the headline that I put out, which is okay, it's going to become legal in Hong Kong, but that could make people feel unjuly positive or optimistic.
it's a bit of a big thing, it might be a good step, it doesn't mean that everyone is going to buy everything immediately, it seems like NineGag is saying with a bit of more local knowledge that it might take some time and the road will not be, the road will be a bit bumpy basically before things actually smooth out.
What I'm quite interested to also see and thank you for providing us with the context is NFT projects that are Hong Kong focused or Hong Kong based like
mochaverse or like olive x ai if you know being at the at the center of this bus will have any impact on them and potential traction that he could get from this news
Yeah, I really liked this idea that someone I read someone writing a while ago which is that because these companies are away, I mean my understanding is they just don't have to deal with that security question which is constantly plaguing every American
project where they can't issue unregistered securities or whatever. And I think this is my understanding that they have a little bit more freedom in order to innovate in that respect. And that was why this article or thread that I was reading was a bit more bullish on Memelandum, particularly
learn, or we obviously know they're doing well, but not just them, even other projects that are out in Singapore or Hong Kong or in those regions, because they've just got a bit more space to innovate and they don't have some regulatory body breathing down their neck all the time trying to cut them off. So I think that was an interesting perspective. What do you think about that?
Yeah, I think and that helps to you more context and it's also something we're probably gonna get a bit later into when when you have the additional new section because 9x you had another tweet
around token launches, leave considerations, legal structures for NFT projects and how people do tend to underestimate that. So I would definitely love to pick up this topic again once we get to that section.
Yeah, definitely. Did you want to pick anything else from the headlines? This was actually the topic I found to be the most interesting. The other ones I don't have that much to say. I have more things to see on the additional news today. Okay, that's fine. I just wanted to note on the Nike
.swish public sale. I really wanted to, I mean, I still kind of do want to buy, but just as a customer from a UX perspective, they seem to be meta-nessing up all the sales, which might be in a simple event what kept happening with the artifact sales. I remember there being various issues
issues with those sales as well. And it's not particularly clear how you buy, where you go to buy, I went on their Twitter account just trying to figure out because there are only $20. So there are only $20. It's like a nice way to onboard people who want this digital sneaker. It's also not clear how many of sold I would have
like to put that in the snapshot to give people a bit of context but it wasn't easy to get and I had to move on. So I don't know, it just felt like a kind of disappointing way for them to enter the space in some respect. I don't know if you've got any thoughts on that. But is it the same min that already had
in the past or is it a different mint now because I'm not following. So this is the public sale which went live. So before there was this private sale for the people who were air dropped a particular poster or NFT and now
it's gone to public but there were some initial problems at the beginning. I think they figured it out and now you are able to buy it but I was just kind of frustrated couldn't even find where I could go and spend my $20. So that was a bit of a pain but as you said you've got some more stuff to say on the later news today. Let's move on to
to the next segment which is the overvalued undervalued segment where we evaluate some notable sales from the last 24 hours we're going to get to the additional hits of news later. When I do present these we would love for you to get involved, give us a thumbs up if you think the asset is overvalued or a thumbs down if you think the asset is undervalued and press that
purple speech bubble in the bottom right hand corner to leave us a comment with your reasoning. I am watching and reading and I will endeavor to shout you out for your outrageously good all bad takes preferably bad my preferences actually for a bad take and that would be my preference if that's possible and so in the last 24 hours
We have three notable sales which I have picked out. This is on the second slide of the snapshot. Let's start with the hoodie crypto punk which has sold for $167,298,000. It pinned up top. Thank you for that legendary. Let's ask the audience
first and then we'll go to legendary to see what do we think do we think this is overvalued with a thumbs up or do we think this is undervalued with a thumbs down. Lendrig could you provide some context for the hoodie crypto punks as other people might be making their decision?
Absolutely, we had actually a hoody punk yesterday. This is also a pretty pretty clean one. The hoody punk floor is 175 eth, so a tad over 300.
K with 30 hoodie punks that are currently listed for sale. Definitely a very iconic trade. Definitely a trade that we've seen big people in the space like these and others using. And let's
All I'm going to say to sway the audience for now. Okay, so that was your sway. April said it was undervalued. Toasted said it was undervalued too. We're going to come to toast it in a sec. Legendally, what's your feel for this? I would say it's a Ted undervalued.
and we can also see that the buyer essentially listed it for sale again for 180 east which is just a tad above the hoodie floor and which I think is a bit closer to its fair value.
Fair enough, so there's a little little flip not bad 131670 down for a 13-E profit interesting Play toaster welcome mate. How are you and what do you think about this good tip on?
I cannot hear, so can you hear him legendary? Nope, me neither. Have I raged? Am I there now? Oh yeah. Yeah, there you go. So I said oh my good shit. Yeah. No, I said it's about on the money. I can't it, right? I think for that you just go
just account for that in in these sales. Love a punk, love a hoodie so what's not to love a record? I suppose so yeah not really. Yeah I think that probably fair it's like it's a nice one it's probably a decent value and I think the flip actually makes a bit of sense
I think that's a reasonable play. Thanks for that toast, good week and hear you now properly. Let's go to number two and for this one we're going to go to legendary first and then we're going to ask the crowd what they think of Legendary's opinion. Let's go to the transcendent D-god. This just sold for 20.33
$13,000. Legendary, what do you think? Again, I would say it's a bit undervalued. I mean, the sale is in line with some of the last transcendent decodes that sold around the 18 to 20th mark, but
But there's not a lot of them listed. There's just three of them listed in OpenC starting at 33 ETH. It is a very rare trade. Just a 10 more than 70 of those DGOs exist. I think they look amazing. I'm massively biased, so I'm going to go with Undevalued. Undevalued. What we wanted
now thumbs up if you agree with legendaries take toaster seems to agree Odin Greggie having absolutely none of it they know that you are way too biased to be able to give such an opinion. I have a question which is because obviously I do this every day where I take a look
the highest sales and there were very very few trades that are made without the intention of flipping at the moment. Obviously there's a lot of blur farming going on, all sorts of farming not a lot of buy to hold. One thing I've noticed over the last seven to 14 days is that there are consistent higher than
floor sales on D-Goth and it's one of the only collections where I've seen that happening. Legendary, what's your read on that? Because I believe that to be und... You can't argue with that, that's definitely been happening. What's your take from someone that's kind of, I know you don't have a D-Goth yourself,
But being inside that ecosystem, what's the reasoning for this? Why are we seeing this? So I actually did write a thread on this and it went viral with Frank, the user in the DGOT account, retweeting it straight away where I did dive a bit into the reasoning. Why we see this demand for floor DGOT's
mid-rear, rare and grails. And I think it's really the strength has a strategy that tries to bring value to all of those. We've seen the announcements for around the good season three and what the teams currently working on, which also includes putting more emphasis on, you know,
trading mid-reas, over the counter which puts a lot of emphasis on having a D-got steak to collect the points to be in the dust ecosystem which drives demand for Florida D-gotts and the collection per se and also Frank's iconic grails will be grails line that
is exactly playing at that sentiment, you know, that even if there's an art upgrade, something will change. The most valuable ones will remain the most valuable ones. And it's a very interesting strategy to see a founder try to provide value for all different rarity tiers within a
collection and if it works out with the next season of D-gods and we will see even more people trying to get into the ecosystem while people are at the same time farming for us and or farming hunting for us and trying to acquire more grails that could have a pretty interesting impact on
on the collection overall. Yeah, I agree with that. Frank's obviously got a bit of a magic touch in some respect and people are 100% following him on his vision and I think I've got to think that that's why at least in part
these these sales keep taking place significantly above what might be considered you know the kind of floor value. I want to throw to Rodo welcome to the stage I think it's the first time you've been with us it says you are a crypto bank OG Gen Art appreciator I can pretty much vouch for that I've definitely seen you
showing all kinds of great information about the genitive art market on the timeline. Thank you for that. I want to give you an option. Would you like to contribute on this D-god thing? Or I noticed that the final notable sale is the four rare passes which were just sold for 17 and 22 E. Would you like to talk about that?
What do you fancy? Hey guys, good to be here. Actually, like I just wanted to comment on the hoody fill of the crib punk. So that's a little bit back. So if you guys are okay with it, I, we can go back a little bit. Because like it's a little bit difficult right now to
talk about it is a still like fair market value because obviously like that the market has been down a lot and there's not that much liquidity and when you look at the re-cryptopunks like we had three recent crypto func sales in the last four days
I guess, yeah, four days. And I think like they are all pretty in line. The sales prices with the trades that they have, like obviously like the baddest one was with the front. What's the trade?
let me check it real quick, the front bearded dart and then the one that sawed yesterday like it has a frown and a frown is not dead of a popular trait itself so I think it's pretty much in line with all the other hoodie punks that saw and yeah, obviously like when the market
becomes a little bit better again, then it will sell for more. So yeah, I don't think it will sell that quickly. Now that is listed a little bit higher, but yeah, who knows? We'll see. Yeah, thanks for that. I think that's probably important contacts. For me, the hoodie
I don't know this for certain because I haven't checked in a while but I see the 300k number. If you were to convert into dollars that 300k number seems to be the number for me for hoodie crypto punks that I think about a little bit. So yeah as you say the market is not entirely helpful
at the moment for these types of grail cells but still they still keep moving. As do we. So let's move into the discussion part of the show. I'm just going to start off by giving everyone 10 more quick hits of news from the snapshot pinned up top so you can springboard into the discussion on any of these topics. Number one, as Legendary
We mentioned Memeland higher the Ethereum General Council, the lawyer who literally works for the Ethereum Foundation, is now also working with Memeland, not super interesting. The CEO, NineGag, said a bunch of stuff about, you know, we don't want to jeopardize everything that we've done by not being legally compliant, so that is pretty
good for them. Number two, Blair launches partial repayment. That's kind of cool in just in terms of their finance perspective. Number three, me bits were featured in Chinese TV. You want to take a look at that. People were getting pretty excited on the timeline yesterday that me bits were featured in this clip. And I think the floor
I've pumped above two for the first time in a while. You need double check that though. Number four, only force announces a new creative director with some pretty cool visuals. They've definitely been ramping up in terms of their media output recently around this comeback that they have said themselves that they are going to be on. It's nice to
created by operator sold out for .90 and was trading at 1.5 E just after. So that's good for the curated market again. Onto the creator corner, number 7, millions tune into the desantis and Elon spaces yesterday. That was with David Sachs as well from the all-in podcast.
Really great to see Twitter spaces as a platform continuously providing a platform for all these people around the world to announce super important things. Number eight, open AI suggests they may leave Europe if they cannot comply with the laws. I don't really believe this but that's what they're saying. Anyway, number nine, chat GPT IOS.
I love to know if anyone's been using the app out there so far. Number 10, I think we're on Iskra releases new work on Tonic. Iskra is a really nice generative artist and Tonic is this premium generative art platform and that piece of work we eat out today. Jack butcher,
is concluding today. These are the physical Jack Butcher artworks which are really really cool. I am bidding on a couple. They're pretty nice. And finally Amber Vittoria releases a video of Nike customization. I just think this is really cool when it got me thinking that if Web 3 artists and they've done this with Artifact already partnered with their
I think that would be super cool and something I would love to see from a creative perspective. So, let me read. What is interesting you most out of these? First and foremost, again going back to 9Geg, CEO, going back to Memeland, I think that is a very, very smart move to
the Ethereum General Counsel and also the couple of points that Nguyen Geh CEO made in his announcement saying that, and I'm quoting, "Many tokens where are launched with poor legal structures, they're putting all the risk on the buyer's holders, those teams either on the estimated legal risks are done planned
to stay for the long haul, people tend to do things recklessly when they don't think about the future. And I think this is a very, very good take. And also it goes to show that, you know, despite, well, the coin being called meme that, you know, this is a very serious project.
is not going to be a meme coin despite its name being literally meme coin but a valuable addition to the ecosystem and while you know I'm not the biggest fan of regulation in this space especially not in the European Union which I think I keep saying on each and every space so far.
We are not outlaws and this is a massive project, the floors for the items, captains, etc. are super high. So it's very, very good to see that someone talks about legal structures, someone talks about being compliant, putting thought into a token launch and not just doing it and see how it's going to play out in a couple of years.
years. I definitely agree with all those things. I also agree with the idea that I think people think that because it's called a meme token that it's just going to run almost as a joke, but they're a very serious organization. They've been doing things incredibly thoughtfully and incredibly well.
The next thought that I started to think, and obviously as we said, we don't know how these things play out, it's not financial advice in any way, but I was started to wonder, which coins out there at the moment would be the best comparables for the meme coin? Do you have any thoughts on that?
I mean, I would say ape, ape also powering a massive ecosystem that's well completely different from from what Memeland is doing and Memeland also like you know connecting to Nangag and their real life company that they've built for more than a decade now it is still
The way I read it supposed to be like at the center of the ecosystem in a similar way that Abe is building for their ecosystem. I could see dust in the D-God's Slesh youth ecosystem following a similar way in the future and we'll see more
what we can do with a token but as a right now I would say the closest comparison for memecoin would be 8. Okay yeah because I was kind of thinking the same thing just for people to understand the content how has dust been doing because I haven't seen anything but I know that I
Was it possible to mint you with dust at one point in time and that was like one big use case back then? I basically haven't seen anything about dust on the timeline since then which is quite a while ago. How has that been doing? Because I know people obviously report a little bit more on April because you've got the staking, you've got them.
various things for which you can use your ape every now and again. But yeah, what's the lowdown on dust at the moment? I looked at a couple of dust charts yesterday and actually dust trading volume is pretty healthy. I think it trades around a milliday. Frank again says
for the updates in the second quarter so that we should see pretty soon that dust as well as the point-staking for both D-gots and U-ts are going to play a massive role this year or in the future of the ecosystem and despite not having like very, you know,
announcements of what we will be able to do with the token. The consensus seems to be that the community is pretty patient and you know waiting on it because it didn't plummet as similar tokens that you could compare to dust did in the past.
This is all I have on it right now Fair enough, so maybe there's still there is hope for it in that respect and you mentioned as we as we touched on the regulatory side of things that you did not enjoy being part of the European Union
union at the moment for some regulatory reasons. How much do you believe in this open AI, what's more, this public facing idea or statements which suggest that they would be happy to leave Europe if they cannot comply with the laws
I mean, just to give a bit more context, chat GPT/OpenAI was banned for, I think it was a couple of weeks in Italy for GDPR reasons, wasn't accessible, they did find the workaround
it became accessible again. The competitor by Google Bards isn't accessible in the European Union or I think all over Europe unless of course you use a VPN then it works. The EU is currently in
works to prepare an AI act, then we also have the GDPR that touches a lot into the training material of LLMs to basically the content that chat GBT/Bart keep creating. And I,
have a bit of a different opinion than you because just seeing that you know Google decided not to launch in Europe and open a iChat GPD had problems before with a part of the European market with Italy I could see them pull out and you know reconsider
how the regulation is going to play out in the future and focus on improving the model, growing the model, growing the plugins, working on the app side of things, etc. before they work out, strategy in the future on how they can be compliant in the European Union.
Do you think that the European government's position or the combined governmental position via the EU would be so strong such as to force these people out?
I think this could be the case now. I mean, I haven't studied the I act in detail, but we've seen it with the conversation that we had yesterday around end to end encrypting where we have similar positions with
single countries who completely want to ban it and the EU as such wanting to find a way to tap into those conversations. So I feel like with a lot of things, EU has been on a pretty innovation-handering regulatory trip in
those last one to two years, with one exception though, which is the the mecha regulation, the markets and cryptocurrency assets regulation that actually provides quite a good framework to regulate crypto assets, although it
it is a bit restrictive in some ways, at least it provides clarity. And I feel like with the artificial intelligence like the GDPR, the privacy laws that are being currently discussed, they could be a bit too much for those companies and eventually be a reason for them to pull out temporarily.
Yeah, I see what you mean because it just seems to be the case that in the EU these laws are now stacking on top of each other in some ways which make it incredibly hard to be able to move information. I saw something recently that a big company was find a large amount because of the way that they were storing information
somewhere where they are not supposed to be storing it for context. I used to be in essence an information lawyer, one of the things I did was a lot of GDPR stuff and in Elificación from London. And basically the GDPR is a complete pain in the ass as it stands, but yes there is also this new
AI Act, which is in discussion, in draft at the moment. And it just feeds into the big discussion with Sam Altman going to, I think it was Congress, he actually met with Rishi Sunak. I saw a photo on Rishi Sunak Twitter yesterday or today where they clearly
discussions about something. And his position as the CEO of OpenAI today has been that we do not, sorry, we want, we think that this should be regulated. We should do that. My skeptical thinking around that is that they want to
do that so that they can capture the market, make sure that the new incumbents can't make too much progress because they're already so far ahead of other people. Is that something you're persuaded by or not so much? I mean, it's also something we discussed and you made a very good point the last term we brought this topic up that's in a way a similar approach that
SPF took with FTX propelling it, you know, to a dominant position in the market. And once he secured that pushing for regulation and, you know, being the figurehead of pro, pro regulatory stands around crypto markets. So this
appears to be a very similar playbook in some ways. Yeah. Yeah, he gives me such SPF vibes, man. Like, did you know, I told you we did touch on it the other day, but when he says he that he has no equity in open AI and that he just does it just to be just because
he loves it or something like that. What was it? Effective altruism? Yeah, it's happening all over again. Like I can just feel it. So yeah, that's something I definitely I want to watch out for. But to be fair, I haven't actually heard him speak at length. I've only
seen clips and typically given how much we distrust the mainstream media in these channels sometimes I'd like to see him speak like in a long form interview with someone I think that would be better. I want to just touch on quickly. Do you know much about the Jack butcher elements because if not I'd want to bring that to people's attention.
because there's actually something free that you might be able to get from that if you are... Yeah, there's something free that you could potentially be able to get. Do you want to say anything about it? Or shall I? Absolutely, go for it. I think you're way more educated to speak on Jack Butcher than I am. So for anyone in your wooden Jack Butcher, obviously
the check and the OPEPN editions, OPEPNs were free, they're up to now .6 E checks when crazy they were the start of the year was minted at $8 went up to like $4,000 or $5,000 at one point. At the moment right now he's doing the element auction
which are physical checks. So he's like made them a bit more colorful. There's physical versions. Some of them were sold at Christie's early in the week. They went for about 20, roughly. Well, one went for about 12, even a couple went for 17, 18. So they did really well. And now I've
he's got these auctions going on for different sized additions with Jack butch all the stuff is like a little bit complicated but there's like a 64 addition they're all unique but there's 64 in one set then there's 32 in another then there's 16 in another then there's 8 then there's 4 then
is two and one, something like that. And basically, what the opportunity at the moment is that if you are a checks or Opeppin holder and you bid on any of those additions, you get a free infinity check, which is like a bid is
So just in case anyone up has one of those things, one of those NFTs either an opep or a check in that wallet, they might want to go and bid on that auction so they can get a free bid as addition. I think that's kind of cool.
Yeah, it absolutely is. And without making the financial advice, would you have an NFT in the Jackpotcher ecosystem that you would point someone like me to who has absolutely no exposure to it, would be a good entry point, the checks themselves,
the Opepn edition or where would you direct me? So I'm slightly biased. I think this Opepn thing is really, really cool. And I've just actually bought some because I finally came to understand what the mechanic is. And I'll try to summarize it as quick as quickly as
possible because it's kind of complicated. Basically what they've done is what he's decided to do. And I think the real significance of it is that it's making NFTs, NFTs again. He's turning NFTs into non-fungible tokens because what we've seen so far, or how the market's evolved is that they're all behaving fungably
right? You just put things into collection offers, people sweep things, no one's really looking for individual things. But there are 16,000 Opepens and what he's done is saying okay, in certain periods of time we're going to take a certain amount out of those 16,000
and do packs. So like in the first pack there was like 20 opeps or something and if you have no pep and you apply to be in this first pack of 20 and then there's like a particular design. So and then all those become more non-fungible right because those 20 in that pack are going to be
be different from the next 20 and then all of these different packs have a different number in them as well. Some might have 200, some might have 100, some might just have 20, some might have 10. So what he's doing is he's kind of taking the overall 16,000 and then saying, okay, we're going to break this 16,000
up into a bunch of mini kind of mini collections which people are going to collaborate, which people will be able to collect. And the cool thing which I think is, I don't know, maybe it's speculation, maybe it's just thinking forward. But
I've seen people on Twitter kind of take their Opep and design and put other artists like overlay their art in the Opep and design. So the potential is that within the Opep and ecosystem you could have different collections partnered with other really cool artists.
It's a very very good breakdown and it It reminds me a bit the like the design of the Opep and Perse I feel it is so iconic In a way like like chromies Quiggles are but exactly with the addition that you mentioned that Basically it's built
building a collection the other way around you started with all your pepins and now they're going to be broken down into those packs and building like a kind of sub communities within an art collection and I feel like this is a pretty interesting take.
Yeah, I think my main conclusion from it is like look I don't know if it's going to work, I don't know if he manages to partner with some cool artists to get some cool collabs, I don't know if you know say you're in a collection of ten, one of these packs for example, you know will that have value, what if you're with nine
people who are super quiet, not very prominent on Twitter, maybe that's not a cool thing. Maybe it depends on who else thinks it's cool. So I don't know about those things. The only thing that I am definitely certain of is that it's really cool that he's designed this thing because I think it's genuinely innovative compared to
what everyone else has done. Everyone else has just designed their rarity, put it out into the world and said, "Okay, you guys now decide, you guys now pick what you like, obviously we've got like some of it, something that's gold and that's a rarer one." It's like, "Okay, fine, that was one level of rarity, but definitely no one has done this thing where."
you know it's a live collection you break it down into smaller packs and then you kind of you develop as you go over time I give people something to look forward to for quite a while I think as well so in terms of process I think it's really cool yeah because it does something very important it just you know in a bear market
phases of the demand over a longer period of time. I think the main challenge with it will be the communication around it, because even with your explanation, I feel like it's still a pretty difficult concept to understand what it's going down because it's not as straightforward as looking at
And you've got an already finished collection where you have existing varieties and you're just going to pick the tier basically that you like. But this is an organic process that's going to evolve over time. So I think communication is going to be a very important aspect of this. Absolutely. I agree. It's notoriously complex.
systems so they do their best to try to explain this stuff. So guys we're coming towards the end of the show for today. We're going to wrap up in a moment. I've just shared what I, well, something I'm thinking about, I'm looking at. Legendary, is there anything you'd like to leave people with something you've got your eye on, something you're interested in?
For me, it's definitely exploring more in the meme land ecosystem and finding an entry point. I feel like both news combined the Hong Kong friendly regulation as well as the legal framework being set up for the token a two-mass
factors and I wanted to buy a captain for quite some time. I always said now I'm going to wait for the next one which obviously never happens so definitely reading more into the ecosystem and what they are doing because I feel like I've been watching it for way too long.
Again, not to finish advice, just my reading from all of the news we had. That makes a lot of sense. So the deal we make now is you go away, look into captains, I'm going to look into more of the Jack Brutcher stuff. We come back tomorrow for the final weekly show. We do a little bit of a
summary of what we've learned at the start of the show. That's good. Excellent. That brings us to a close team. It's been a great show. Thank you, Legendary, for co-hosting and coming up with all of this. Contributions, jokes, laughs, good information. Thank you.
to join us on stage for the first time. It's a pleasure to have you with us. And thank you to everyone in the audience. You've decided to spend your precious time with us today. We see and appreciate you and we hope we can do it all again with you tomorrow for the final show of the week. Have a lovely day and take care. Bye-bye.