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NFTea: Mint price, Distribution, and NFT supply.
Recorded: July 25, 2025 Duration: 1:56:36Space Recording
Short Summary
In a lively discussion, crypto enthusiasts explored the dynamics of NFT minting strategies, partnerships, and the importance of transparency in project development. Key insights included the potential for significant fundraising through strategic pricing and the impact of community engagement on project longevity.
Full Transcription
Thank you. The way you throw it to the love It's just a little bit useful
And I'm a little bit
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I'm a little bit
I'm a little bit
I'm a little bit
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That it's forever useful
I'm a little bit
I'm a little bit I'm a little bit I'm a little bit I'm a little bit I'm a little bit And it's forever inside.
All I've got is in the cold blue sky.
The shade is running for my side.
Don't shine in the fire in the light. All the madness is in the sky.
All the madness is in the sky. I It's a dream you want me to come, I'm lost, I'm just dreaming.
It's a dream you want me to come, I'm lost, I'm just dreaming. you I take my cheek and make the consequences What about the cross that forms around your soul
The loops of free caribans, the edges of your feet
Thank you. me
oh I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my name, I'm in my-fi music is too elevator music, I'm going
to bring you some more fresh tunes, but not like dead tunes, because that is a
little bit too much, as we have learned during the L1 to L2 discussion.
I thought I was going to kill myself.
But welcome to NFT, GMGM.
Benja is my, I mean, Dr. Benja Goon, as he names himself, is my co-host tonight.
And today, depending on where you are, it is a true pleasure. How are you doing today?
Is he rugging? Am I rugging? Can anybody hear Benja? Thumbs up if you can hear him.
Oh, here he is.
Well, apparently my mobile phone is not doing that well.
So I'm joining from Jok right now.
But thanks for having me.
There is eco and you sound like an apparition from heaven.
Yeah, I just closed the mic right now.
Okay, this is much, much better.
I literally felt like I was talking to God himself.
Okay, let's hear a hi from all the other people who have requested to speak. This is a very, very open space today, guys.
Like, we are literally going to be yapping and exchanging different opinions
just about everything and anything we think about this week.
So feel free to request.
However, unless I am speaking to you actively, mute yourself.
mute yourself mute your ass otherwise I will boot you okay let's first hear a
Mute your ass.
Otherwise, I will boot you.
hi from Zane a big truck energy and then lemmux
Gmonad everyone hi Zane
hi zayn that was me that wasn't zayn zayn only mouse no that's zek dick sorry zayn oh yeah if
zayn starts speaking then no no no i'm saving zek for the last intro for the last gm because i
promised him that i will let him meow but he has to deliver one singular perfect meow.
So, okay, everybody say hi, and then Zach at the end is allowed one perfect meow.
Who hasn't said hi?
LaMouche.
Hi, Karma.
This is Glieder.
Hi, Glieder.
I can join with my own account, I don't do it la moosh
don't know because it says not authorized if you have something against clouds you
can say it no this is perfect by the way glitter glitter you always speak in a
tone as if you just told a joke and you are still laughing at it it's very very endearing it's very cute thank you see this is the best this is the best
demonstration okay we're bringing small up as well but we have the one and only
john w rich kid with us today hello hello karma um i'm really glad i really didn't think you'd
bring me up as a speaker, so I promised to behave.
I think the high of this week for me, are we doing highs and lows of the week? Is that what this is?
That's what you are doing now, and I'll allow it.
Thank you, thank you, thank you. Yes, I would say the high of this week was I got to bless the office of Monad with my presence, of course. So productivity skyrocketed across all boards.
I think lots of things got done in my presence because people saw me and instantly, you know,
I think they started working harder. I went on Monad in the morning. I did 50 pushups of perfect
form straight through. Everyone who watched the show can confirm that actually happened.
I know I see we got James in the audience, so shout out to James.
He actually told me after Monad in the morning,
to my face, that my pushups were the best pushups
he's ever seen before.
And he said that I was the smartest member
on the Monad team, so I don't think he's a speaker,
so he can't really dispute that.
I don't think he would anyway.
So that was probably the high of my week, right? Um, oh no, he, he already tweeted. That was probably the high of my
week. Um, don't go look at his tweet right now. He's just drunk. Um, I would say the low. Don't
be a coward. I just invited you to speak. We want to hear about the perfect form of John W.
No, no, no. Maybe, maybe, maybe you should rescind that invite
karma. That's not a, that's not a good idea. He's busy. Okay. He's got to do coding and shit. All
right. Um, he can't join, um, the low of my week. I feel like the low of my week was like,
so I'm very lactose intolerant. And I had, um, I had this Mexican Caesar salad yesterday and I've
been having it all week. Right. And I take these two, like, you know, this karma, I had this Mexican Caesar salad yesterday and I've been having it all week,
right? And I take these two, like, you know, this karma, we shared this memory in Greece.
I took two lactase pills, um, with it all week and it was just fine. But I guess yesterday
when I ordered it, I said light cheese, light dressing, like normal. And apparently they just
didn't listen to that. And I didn't know that until after I ate it. So my lactate pills were
clearly not enough to prevent the dairy that I had.
And I was literally getting on a flight.
So my flight home to Gary, Indiana was exceedingly traumatic and traumatizing for anyone and all those around me.
We almost had to make an emergency landing.
But thankfully, we did not have to.
So that was probably the low of my week.
I've been put on a no-fly list.
But that's okay because I don't like to fly.
So I'll pass it back to you. That was the week right there. Absolutely riveting story. This is,
these are precisely the quality contributions I bring you on to deliver on this spaces.
And I'm sure no one, no one in this audience had been disappointed. So thank you so much.
We also have Washvat and We Wickref that joined us on stage.
Say hi guys. Yeah, hello, hello guys. Yeah, good to be here. Actually interesting to talk about
Mint Price. It's always, you know, a hot topic to talk and some people disappoint. So yeah.
some people disappoint. So yeah. Yeah, this will be a good discussion. And with Washvad here on stage,
we have the two deepest voices within the Monad ecosystem. Benja has a deep voice, but
wait until you have heard Washvad. I think you're probably mistaken. Hi guys, Jim, Jim.
Hi guys, Jim Jim.
Oh wait, yeah, Bullseber, Bullseber, your CTO.
Yeah, yeah, exactly. So...
But still, you deliver the right octave that I wanted for this beautiful music here on stage.
And we also have Mona Fuku Cafe joining us.
It's a collection that has joined Monad ecosystem very recently, and they will be
minting on scatter who also like we welcomed recently, very, very happy to welcome them
for the first time on spaces.
Hi, hi.
Hello everyone.
I'm very happy to be here.
So yeah, I will maybe talk more about Mona Fuku a bit later.
I will maybe talk more about Manofuku a bit later.
So yeah, no worries.
Yeah, no worries. I low-key expected a female voice but catfished again.
Such is the nature of this space. I'm obviously joking, you weren't
catfishing. But now, what we've been waiting for,
Zach, you are allowed to unmute yourself and deliver one
singular perfect meow.
Okay, how do we rate this? I would give it a solid 7 out of 10. If I heard it in a dark alley,
I would look around for a cat, but I wouldn't
spend too long doing that. I think that was very disappointing, Karma. It has been much
better meows by Zach. That was really bad. Okay, Small, I mean, constructive criticism.
time to deliver a better one wait wait wait we are now listening to small's meow
Time to deliver a better one. Wait, wait, wait, we are now listening to Small's meow.
i am not a cat as you can clearly understand okay this is jack's job and that's an easy
job to do and he failed i'm really sorry i'm being objective here okay
a very low testosterone answer i feel like a high testosterone man would just meow but um
like a high testosterone man would just meow.
But we love you small, we love you small.
Can I say something before you continue
with your very high value space?
John W mentioned that his pushups were perfect form.
He looked like a meme coin chart
when he was performing the pushups.
At the end, he went completely to the dumpster so
good job you don't have to pull your hand up bro just you can go ahead and try to i don't know say
something different than what the reality was okay i will allow one rebute all before we dive into
the actual valuable topics of the space john make, make it good. Okay, thank you.
Yes, Small, all I got to say is the time we were bathroom buddies at the meetup in Athens,
okay, I would have expected more from you.
I would have expected you to have my back like you had my back then as well.
So that's all I got to say.
Fantastic. I got to say thank you fantastic also I want everybody listening to this to know that there
are 20 people requesting to speak at the moment this is like the highest number I have ever seen
live um I'm I have like a slight suspicion that it's glitching and it might be even more
because as I scroll through the listeners literally every single person is showing
not every but like multiple
rows want to speak so i will definitely be rotating speakers today don't be angry at me if i boot you
like i'm about to do to zack um we welcome you next week for a meow that should at least be eight
out of ten at the monad ecosystem we like to ship and improve incrementally week by week.
Okay, remove.
Okay, we're going to admit slow.
Slow is an amazing speaker.
We want him on Spaces.
Welcome, Slow.
Okay, but let's dive into this week. We have really, really amazing topics to speak about.
Obviously, the main one being the big discussion in the community about the mid prices, which
I think is just very, very good to have out in the open with different voices contributing.
Before we dive into that, even though we wanted just like a quick overview of where we are
currently in the markets.
If you have tuned into Monad in the Morning yesterday, I did like a little breakdown.
And honestly, the volumes are up, the mint prices are up, the vibes are up in the NFT ecosystem at
large. And I think one of the reasons, you know, you always need a catalyst. I think one of the
catalysts is definitely the punks movement. So a few days ago, there was a truly legendary day.
We had 135 punks purchased in one day.
That is an equivalent of an 8,000% surge in punk volume, you know, compared to previous days. And one singular wallet in particular has swept 48
punks in total at around 8.5 million. That is, for those of you who do not even want to hear about
fiat, that is around like 2000 ETH, I believe, at the time. You know, at the time of the actual purchasing, Dave was slightly higher.
We are now back to Goblin Town grind. But, haha. But, you know, an incredible vote of confidence
like this does spark a lot of discussion, does spark a lot of confidence. And usually the markets
are very reactive, right? Like it takes a few catalysts and then everybody just finally finds consensus and
acts the same way.
So this has been really a spark in the NFT markets and everything started pumping,
including also the weirdest collections like the Aussie Osbournes bats,
crypto bats, you know, as a homage to him, rest in peace, Ozzy, the degenerate
version of, you know, sending all the good to the family and paying respects is pumping your
collection to high heavens for the period of exactly 48 hours, I think, before the mania died
again. Yeah, people are always buying stuff, collectibles from people when they die.
Like when Dale Earnhardt died, everyone was buying all the Dale Earnhardt merchandise.
Yeah, I mean, it's low key like traditional art.
Like nothing is better for your art as an artist than you just dying.
That usually skyrockets the prices because suddenly the supply is limited, right?
Like it's a supply cap.
Are you telling me dev is dead is bullish?
Oh, dev is dead is the most bullish thing that can happen to a collection.
Given that the collection is actually like already out there.
Also, oh my God, like this is Dior, DD.
Do not take this as a DIY hack to Skywalker's your collection, please.
I don't want to be in the news.
I think I'm going to sacrifice myself, Karma.
Oh my god.
No, don't worry, I have a plan.
Never kill yourself.
Never kill yourself.
Thank you, thank you.
Benja, I can already see someone in the truck
community clipping this spaces and be like karma's latest hog on how to make
your NFT collection a success please don't do this I will come for you I will
bat you from this court or I will beg Bill to do it because I'm not sure I can
but I will find a way okay back? Back to the topic at hand.
Yes, slow, very fair point.
In a way, when you think about it,
this inches on-chain art further to the traditional art markets.
When the artist dies, the floors pump.
Did Osborne personally draw each bat?
I think what they said was that He was the creative director
Which usually means you sit in a high chair
And you tell your goons what to do
But you do have the creative input
I'm never telling a goon what to do, man
Do you even have goons?
See, like, in order to be a creative director you have someone to
to direct never goon okay um so yeah we had the incredible funk day everything started pumping
another fun collection that came out of nowhere was moonbirds so they got acquired by Orange Cup Games recently and pumped like I think 113%
in the past two weeks alone. Lots of thumbs down for Moonbirds. I actually really love the
collection like visually and I'm happy that it's in new hands after like you know such a long term
of mismanagement. I have very very high hopes hopes for them I think the IP has a lot of potential and it's you know very
very marketable and very versatile okay but enough about other collections now
moving towards moving towards our ecosystem yeah I think the most
important thing to to address and to discuss is what to think about, how to price, how to determine your supply, how to price your supply as you sprint towards the main admins.
And I think I would really, really love to hear first from people on stage here.
When you look at the article I published yesterday, which I also have here pinned, there is at least, you know, I believe like 20 collections that people are in some agreement about being interesting, like NFT collections on Monad.
There's many, many more than that.
than that like there's like over a hundred in like a private database that i'm tracking so with this
Like there's like over 100 in like a private database that I'm tracking.
many if they all mint together within weeks of each other on monad mainnet that is going to be
hundreds of dollars potentially in mints if not thousands that are actually required if you were
to mint all of them so a personal question to some people here on stage, and feel free to put a hand up so that we can do this orderly.
Have you thought about how much money in total you are willing to allocate to minting on Monat Mainnet in the first weeks, maybe?
And I'm going to go first.
I'm obviously a massive NFT bull.
I'm obviously a massive NFT lover.
Like I am definitely parceling away like at least of my personal money, like my personal private money, like around like a thousand dollars plus to try and like cash, like, you know, different elements.
And I'm excited to hear about you guys. So like Benja, maybe starting with you and then going to Small and Zane.
Yeah, right.
I think for me, it depends on like what the mid price is going to be for the NFTs.
Because some of them are going to be like maybe three, maybe 50, maybe 100, maybe 200.
I don't know.
But if I think the team is good and they have like really good art or
project or utility whatever I'm gonna mean it anyway so it could be anything between I don't
know yeah 500 to like 2000 depends on like what the main price is gonna be
yep definitely and the reason I'm asking first about like the mental model about this
instead of just directly chatting about prices is i think it's interesting to know if people have
like a basket that they are thinking about because you know if i have a basket like let's say i really
want to allocate 300 then and then there's different mints like i might configure them
differently depending on their price but i still still have the $300 to play with.
But anyhow, yeah, small, zane, slow, anybody on stage,
feel free to throw your chips in.
I think that a lot of people are
hoping that the Monad Foundation gives them free money
to mint with, and that's their basket
that they're counting on.
Wait, are we not getting free money? What do you mean?
For this network coming?
Is there? I thought those videos were fake.
Oh, damn.
Well, you know, in case we get some free money, I'm going to be allocating my free money towards all the mints,
especially the ones Karma has mentioned.
And on top of that, I'll try to hold as many as I can.
But on a serious note, I think the price is going to be super relevant
as to what comes first, right?
So if some high min comes out and the price is 200 bucks or 100 bucks,
and then unless high mint comes and the price is higher,
I think it might struggle a bit.
It depends on what the price action comes after a mint is successful.
And are we going to have royalties as well?
That's a massive question, but I guess this is for later on, down the road of the space.
So what you're saying is that the first big mint should charge a large amount so that
the other collections can change their price to a higher number?
I mean, if the initial means the successful ones from high projects are of a lower price,
wouldn't it be really difficult for the next ones to have a higher price than that?
And, you know, make it make sense in a way, right?
yeah i think it depends like what your collection is trying to do right like if it's just art then
Yeah, I think it depends, like, what your collection is trying to do, right?
you shouldn't like you should charge a reasonable price is there something a collection can put
forward as a reason for them to try and raise multiple million dollars i don't think so yeah
you you kind of use your your mint as like a goundMe or like a seed round of sorts or like a pre-seed of sorts where people are kind of investing in the thing that you're building by minting your thing.
But if you're not building anything, then you don't really need to charge some crazy price unless it's like fine art or, um, I don't know.
Like you're just that cool.
So maybe this is a right moment for me to jump back in and let's actually look
maybe at some of the comparable mints that had recently, I mean, not really
recently, but what are they like 20, 25 minutes and what did they charge on
other chains?
Right. And I heavily caveat that by saying, like, I don't think you should be taking over like this
over like one to one, but it's good to have benchmarks. So. And these collections are what
I would say, like pretty premium collections and had pretty high quality execution. So let's look,
for example, at Good Vibes Club. Now that was an Ethereum collection and they have what I would
consider one of the like highest quality art releases in 2025. And I believe that was like 0.069 ETH, the mint price, which was at the time like roughly $150 or $170.
And they had like a supply of, let me briefly check, I believe they are like $6K.
So we are speaking in that terms about like an over a million dollars raised via the mint.
So that's one data point.
That's one data point.
Then let's look at final Bosu, which minted an abstract.
That was like their premier collection.
They had a pretty insane marketing campaign,
like with even like abstract as a chain and OpenSea joining in.
And that was a total collected via mint. Again, like I have my notes
here, like I hope I didn't make a mistake in them. But if I remember correctly, it was 2 million
raised in total. It was $220 per mint. And the supply is at like 8k or 8k some something between 8 and 9k i believe so 220 almost a 10k collection right
um again very big plans very big promises um it's it's working to be like you know one of the
premier nft ips for sure um and then like does anybody here remember what some of the smaller collections minted for?
Like, Fugs, Bearish, Dremelio Maker on Abstract.
I think those would be interesting.
But it's surprisingly difficult to actually scroll and find back the tweets about the mint prices.
No one here.
Okay.
Well, I got to... This is an idea for the next tweet. Okay. Like what,
like 2025 history of mint prices and mint raises. Um, but if no one, no one of us here, uh, at,
at stage, like remembers, maybe let's, let me dive into what I believe, and this is just my opinion, what is the best approach to this.
Now, obviously you're trying to get as much capital as possible to deliver on different
items in your roadmap, but quite frankly, the way I would price my collection if I were to release
one, I would sit down and I would create a range for myself. So I would, and I wrote about this in my,
like before you meant like brutal checklist, basically create like a range, count together
what you need to pay your mods, what you need to pay your artists. You as a founder should be paid
last, unfortunately. So like this goes up towards the end. But assuming you have to pay like a bare
minimum to everybody who had been involved, that is your like lower range of what you need to raise.
And now add to that whichever execution of plans you have post mint. Now, remember that you also
need to keep those moderators, like you need to keep the artist if you want to your collection
to remain actually active. So you need to be planning artist if you want your collection to remain actually active.
So you need to be planning for at least like, you know, a few months,
however long months you want to really be active.
And then within that range,
that is how I would play with how much I need to raise within the mint.
Because most of you also don't have a fixed supply yet.
So depending on your range,
you can actually play with different outcomes.
Like maybe you do a cheaper mint, but higher supply,
or you do a more expensive mint, but cut the supply.
Like all of these could result
in actually the same raise of money.
It's just, you know, details of how you split that.
And overall, unless you are really planning to deliver something
exciting, and let's say you are at like 5k collection, like, I don't know, like, I would
really struggle to pay like more than like $50 $100 unless the collection is something really
extraordinary. But that's just that's just me, I like, I need reasons to pay more.
And overall, as a founder, the lower you price your collection, the safer it is for everybody involved.
Like, the more likely your collectors are to actually come out of this, you know, like victorious and feeling good.
And the more likely you will get no backlash.
So, you know, like the lower the price,
obviously the safer it is for everybody involved,
as long as you can still execute.
And small was first, so we're going to go to small,
and then Zane and Big Chog.
Okay, so I completely agree with everything you said.
But I think everything goes out the window
as to what is
a reasonable price to pay for a mint when the price action of the trading aspect goes live.
If we see volume and if we see people making money through NFTs, hopefully we do,
I believe an NFT craze might pull up out of nowhere, and then you might see the pricing fluctuate in the sense that if somebody minted for a hundred bucks, suddenly the collection is trading at 2K, then it might make more sense for another hyped collection to mint for 500 or for 400 since traders see the um space you know they have an area of trading in
order to make money so um it's going to be a balancing act between what's reasonable what's
ethical all right and how much do you guys want to play the game That's what I think is gonna happen.
Zane, do you wanna add to that?
Am I ragging? I don't hear Zane. No, no, you're good.
Uh-oh. Okay, we are gonna go to BigTrog and Zain, feel free to rejoin.
I'm going to admit you again.
Thanks, Karima.
So yeah, around the topic of pricing, I think it's also very important because you said
you could either have like a low price and a high supply or a higher price and cut the
supply.
But when it comes to like selling a product, regardless that we're talking
about an NFT collection or any other product, I think it's really important
that you don't like undervalue yourself.
Like, okay, I get that you want to meet out the whole collection, but I think
it's also really important that if you have a good collection, you don't just
like mint for, I don't know five or ten dollars because that
might like give a weird feeling to like people outside of the community who maybe don't know
exactly what's going on in there so you can just say i have this awesome nft here you can have it
for five dollars which is like pocket change but then again i think it's also important not to
like overprice the collection because you don't want the community to feel like you're
trying to milk them for money you know so um yeah like you were saying and small was saying it's
it's important to balance these things out um just so it makes sense for someone to
want to get in potentially you know get get a bit of profit or maybe even uh like hold for long term and see
where you as a founder are gonna take that collection um so yeah i don't think necessarily
setting a low price is a good thing but also you shouldn't um count on the hype that you built up until a certain point, like up until the mint, to try and
like milk money from the community. So yeah, I think that that's my that's my stand on it.
Very solid one. And back to Zane, who is now back.
Yeah, I'm sorry, can you guys hear me now? Loud and clear, brother.
Alright, thank you.
So for me, I've always been like a huge NFT guy because like that's actually what brought me into crypto.
And then I really want to see the fun back in every way possible.
So on terms of like price, I think personally, I'm like super flexible with how much I'm okay with maintaining.
If a collection is priced at thousands of dollars, if I have that much conviction based
on the founder or who is behind the collection, I could pay for it.
And if I don't have conviction, I wouldn't pay.
So it's more or less about how much conviction I have rather than how much I think is, you know,
a fixed value, at least right now.
So I think from
a founder's perspective, if you're
trying to find the sweet
spot, first of all, you need
to consider how much wealth
has been created within
the ecosystem. And
this factors in, oh,
maybe an NFT collection has launched before,
how much wealth was created from this collection.
If say, for example, there's an airdrop,
how much like wealth has been created via this airdrop?
Like this is the first like base for, you know,
pricing like your collection.
Then on top of that,
you need to look at your own distribution.
How much supply do I have?
How many people have multiple mints for this supply?
Because all of these dynamics is what determines secondary interest.
Because all the things, the way you price your thing on primary is going to determine how much people on secondary are going to want your you know um
your nfc then on top of that like warrior collections about i think so mentioned this
like if you're just doing something that is just like pure art i don't see any reason in like
i'll collect like hundreds of dollars like thousands of dollars uh if you're doing like
pure arts that you're starting on like a very small base it's obviously smart to do something like maybe a couple hundred dollars or below at most is a couple hundred dollars
probably something like 50 upwards especially if it's like a large supply so if you're doing
art collection i think it's going to be smart to do you know um high supply but uh what's it
called like no means price like from an art, because this way you're able to like give upsides
and then people feel less bothered,
like from a financial point of view,
to want to trade your collection.
Instead, they are going to like be fixated
on the emotional value or like the, what's it called?
Like whatever like connection they can feel to the PFP.
You know, for someone who probably means something
for like $ 100 or below they wouldn't like be more pressured to want to see oh how much is this what
on secondary or something like that but if you're meeting for like you're meeting for like several
hundreds of dollars to like thousands of dollars people they'll feel more pressured uh on like
secondary price action so that's kind of like another thing you need to focus on.
And I think if you're doing like a small,
small, sorry, a large supply
or a small mid price,
you can then price your reality
because that way you're not betting on yourself
to, you know, start small but grow big.
So you can use realities as a way
to sort of like funnel in funds for yourself whilst
not being like um instantly extractive from the like get go because if you're doing something
that is just art and then you're like pricing it too high you're already pushing people away and
even secondary interest because it's not just about minting it's about how is it going to be
post mint you need to be looking at from the perspective of all who is going to be buying this thing if i'm selling it to my primary buyers that's
your primary buyers are supposedly you know your evangelist for your collection these are people
you want around you for like a long time if you're pricing it's like too high for people that
supposedly believe in you then how do you expect like secondary buyers to want to come in? So, but, you know, when you put it like low and then, uh, based on like how your primary
buyers, like your primary, um, evangelist kind of like pricey to the price, like really
high, uh, you know, there's going to be FOMO from secondary.
Obviously people be like, Oh, okay.
Let me interrupt.
What if my digital collectible is a Veblen good and it's a display of status?
You don't want to make the barrier to entry too low for your status symbol.
Yeah, Dan, in that case, you need to make it a lower supply.
I think the standpoint of coming from this is when you...
Let's say you want to make sure you're raising for example
maybe around like two hundred thousand dollars like in total like the whole collection so how
you want to like raise that a month is now going to be determined on uh dependent on how you're
like running the distribution do you want a high um supply low means price type of thing and then
if you're focusing on like exclusivity, you can do like a low supply
and then mid to high means price.
So it just depends on,
and all these things still depend on like the first point
because wealth creation is like
literally the primary determinant of everything.
If there is no wealth created,
any money you're trying to raise
is going to be perceived as an extraction,
even if it's like reasonable.
If like everyone is broke in the ecosystem and you come with $100,
$100 is like objectively low to an extent.
But, you know, for each person, it's still going to be like high,
like subjectively.
Someone who doesn't have money is going to see it as high.
So the first point of wealth creation is like,
what's the like the underlying determinant so because in my eyes i think the biggest thing
with like nfc is as a creator you want to make sure there is enough upsides there is enough
upsides because if someone means something for let's say 100 dollar for example and then on
secondary it's priced at like $8,000.
You give them this feeling, how do I want to speak?
Like you fill them with more purpose in the sense that they now feel proud to like rep your collection.
And that's because they already believe that, you know,
they're kind of like evangelists of your collection.
So upside is like really important regardless of how you're like shaping.
So on small
i think small said something i'm trying to remember okay yeah i remember now so he said
even if other in my opinion yeah even if other collections do well like let's say a collection
prices the as of like 50 and then the market prices it at five thousand dollars do not subject
like your own collection like how you're like doing your
collection on that because that is collection a the the variables around your own collection
is going to be very different from that so if one is using uh yeah and sorry sorry to dive in but
like i i get the gist i i think this is actually a very, very good point that like what we consider appropriate
or not appropriate, what we consider extractive, non-extractive, those things are actually
so incredibly subjective.
And how we perceive, you know, like that amount raised will depend very heavily on the market. Like,
think about this, like, when Bitcoin, let's say, was like, for the first time, like, crossing like
110k, right? Everybody was like, Oh, my God, this is like an incredible price. And now,
everybody's like, Oh, my God, it would be so bearish if it fell down. Like what I'm trying to say is that the same numbers can look very differently depending on the market sentiment and depending on where we are currently.
So very, very good point.
And I definitely agree with you, Zane.
I think, however, so there is there is a very, very tempting thing here to do for founders, which is I'm not going to be worrying about my prices.
I'm not going to be worrying about my supply yet.
I'm just going to wait and see how the market looks like.
And I honestly think that is the worst thing that you can do because then you're at the mercy of you're not really planning.
You're just reacting.
And that's just going to be a disaster. So my point is that one of the reasons why I recommended doing that range exercise, you know, find out the ranges that would work for you.
Like this is the minimum I should ideally make.
And then anything beyond that allows me to, you know, execute better, get like a bit more money for all my trouble, etc.
Like you need that basis.
You need those numbers for yourself
internally and then of course you can like you know maybe play with them slightly but um you can
ask claude ai as well is a life hack for this yeah i mean claude claude is a hack for everything
honestly like it's absolutely insane if you use it right it just completely skyrockets your productivity in every possible
way um so yeah like you can literally put in your costs here is what my moderators cost here is what
i promised my artist um put it all into claude and literally be like okay like help me figure
out a fair budget to deliver this and this that I want to do post mint as well.
And work with your little personal assistant.
Okay, so I just posted a poll, by the way.
You need to click on it.
I pinned it.
And, you know, like I'm just curious.
You know, assuming an NFT mint supply of 5k and no detailed roadmap.
So this collection is not promising you, you know, they will launch 50 meme coins.
They are not promising you
that they will cure cancer after mint.
They are just a fun collection with 5k supply
and it's cool vibes.
It's like a great, like vibrant discord,
but they do not have any detailed roadmap.
Like how much would you be willing to pay?
Just go vote on the poll
and we're going to reference the poll
towards the end of the spaces as to what the what the results are um okay let me bring up jivan
as well hello jivan brother um as he connects um yeah like i really want to hear some more
opinions so we are gonna go to vikre what do you think about the prices yeah i wanted to say that's
also a really important thing when you're deciding the
price for your for me for your nifty collection as a founder you need to understand your audience
like these people who are buying only because of the art they're gonna they wanna just join big
movement or they're expecting some alpha i think it's really important to know your audience in this type you know to understand like maybe talk
with your community even like how much they're ready to pay and what they expect for you from
your collection and uh yeah like understand your audience this is my take yep and I really want to hear from Walshvat because I really do want to point out that
I don't want people to listen to this and borrow this $50 amount magically into their brains.
Because depending on the supply of a collection, that $50 is just nothing nothing like if you have a low supply collection like uh block labs
like you know like block nuts like you can't charge people 50 like that makes zero sense
so i just don't want anybody being like karma said 50 is the best no it all depends on the
relation of a collection what you're doing and the supply. Okay. Vosvat, what are your thoughts on this?
Okay.
Personally, I think if I, just to be clear, can you guys share me?
Loud and clear.
Beautiful voice.
Okay.
I think it depends on, I would say like three major factors.
First thing I would consider the market sentiment are we in like um a crazy bull market or what's like the inflow of um money in the ecosystem because um i
did back to like 2022 aptos mint they did like a nice airdrop the first there was like i would say there was a good share of
circulation of money in the ecosystem so the first set of nfts that minted even nfts that like made
no sense people like you know minted because they have excess money to spare and waste around so
that's like a good factor to consider and also um the general sentiment and bullishness of people on the project which
does i think also i think i'll read that as number one because we saw taproots wizard
minting i don't know the price but it was like you know a crazy i mean fee and people actually
people actually minted so if you give people like the reason or people
feel like oh okay this would just give people the chance that feel like it would do well they would
definitely mean just the bullishness of the project and if it's like the art or the utility
like that's been previously said how people fuck with the ads is there any utility
behind the project that the odors would benefit from i think these are the three major factors for
me yeah definitely the the everything is relative argument will be coming back often um for reference
to everybody taproot wizards mint price was 0.2 BTC.
That was before the crazy spike in Bitcoin.
So it was around $16,000.
If you held a quantum cat, the mint price was discounted to half.
So 0.1 BTC, like around like 8K.
And the supply was 2,121 wizards in total.
I think so.
Yeah, yeah, I think about that.
Yeah, so basically it all depends, you know?
But like when you think about it,
like Taproot Wizards was like literally
like one of the most viral marketing campaigns ever.
It had Udi, you know, like a legendary figure
in the Bitcoin community at its helm.
Like there are layers and levels to this marketing and to what you can actually, you know, mint
out.
So definitely not something we should be looking at in terms of, you know, it's good to start
You know, it's good to start humble.
humble.
It's good to start low.
It's good to start low.
And in fact, you know, many collections that are very, very popular today, you know, started at very low mint prices.
And then you have things like, you know, other side and stuff that everybody was like, you know, killing, killing to mint for absolutely insane amounts.
That's much, much lower today than collections that meant it for
you know absolutely nothing um so i think in terms of what if you don't what if you don't
want poor people to own your your digital collectible i mean that is a valid creative take
um you know but like if your collection falls down on the secondary, like the pores are
coming for you.
So how are you planning to make sure that whoever mints for the high price doesn't eat
on secondary?
I'm poor, so it would be impossible for me to ensure that no pores own my collectible
because I own it.
So it's already invalidated.
We've come a full circle.
No, but so I definitely agree that for some collections,
like if you're trying to be very exclusive, right,
you really want that to be reflected in your enterprise
as well, very likely.
But I think the exclusivity truly is born on the secondary, to be honest.
Like the exclusivity like pre-mint, like obviously, obviously the hype before the mint is important,
but it's only who actually PFPs after mint.
It's who actually continues contributing after mint that will build or completely destroy any type of interest that the collection faces.
It's not really like, do you even remember the mint prices of Paji Penguins?
I don't know, Final Bosu.
I mean, you do because I told you today on Spaces.
But no one cares what they minted for.
Everybody cares where they are now so like
definitely optimize for you know where you are after mint and if
There is a particular set of things you want to do post mint
Like let's say you want to invest in plushies or some really cool merch for holders
Then you should be figuring out the prices of that right now
not after your mint,
because those items you really want to execute on should inform your mint price.
It's not, I minted and now I see what I have money left to do.
It's, I have planned my mint price so I can deliver on particular things.
Yeah, I know this sounds very obvious, but it is definitely not, um, too many people.
Um, and now is the time to be doing these calculations and now is the time to be preparing
yourself for, uh, you know, like for these ranges because, and this is, this is something
to consider too.
Um, there are things that will come for your bottom line profit after you mint.
So for example, if you mint on a
launchpad like that launchpad takes a cut of whatever you minted and that cut can be anywhere
between and those are like the most frequent ranges between like two to eight percent eight
percent being like on a higher side you will see ten percent too but that like you shouldn't be
agreeing to such high terms.
Between 2 to 8 is something I saw and can be reasonable.
But those are all things that you should definitely consider.
They are going to be eaten out from your bottom line.
Okay, Benja, I'm going to give it to you for a sec while I'm going to check up on the poll.
Let's see where we are at.
Yeah, sure.
I think you bring up a good point, like the foyum.
I think the secondary markets is going to be so important for you as a creator.
That's also the reason why I believe Luka bought Puchy Penguin,
because he believed he could get his money back by secondary,
but then the whole market thing, then he earned nothing from that but as a founder you should like really look
into that and now it kind of raised the question like do you want flippers in your community or
do you want like loyal diamond hands you know oh i have a hot take on that i have a hot take on that um so my hot take is
that you actually really want active traders so like everybody always like hates on flippers and
for the right reason like naturally you want as good a distribution as possible but my hot take
for nft collections is that like having flippers, having active traders on your collection is actually very, very bullish because it means people believe there is value there to be had.
And usually people like a very, very good discovery mechanism for new commerce to your collection is actually looking at what's hot on like, you know, the
front page of whichever marketplace is, you know, like live at the moment. Like consistently,
the collections talked about the most are naturally also like at the top of the, you know,
trading volumes lists at any given marketplace. So you want active traders. What you don't want
is yeets. Like you don't want the type of an idiot.
Like, you know, those people after every single mint
who just minted for, like, let's say $100,
and, like, they literally, the second they minted,
they dump it for $50 on the secondary.
Those are, like, those are mentally ill people
that no one understands, but happen every single mint.
You don't want them, you know?
You want active traders traders for sure um because
they're going to contribute to the volume and at the end of the day they can be very very active
community members like they just happen to also love flipping nfts which is quite frankly most
of us enjoy it to some extent as a pastime activity um okay let's go to big chog and then zane
as a pastime activity.
Okay, let's go to BigTrog and then Zane.
So on the matter of flippers,
I think like you were saying,
it's important to have them.
And I think if the collection is big and hyped,
it's like impossible to not have them come in
and looking for ways to make money.
But at the end of the day,
usually these people like know what they do.
And by actively trading, they drive up the volume, which generally also tends
to drive up the collection price, like the floor price, which it's also a good thing.
And I think as time passes by, some of these, uh, will become active community
members and will probably choose to stay in the community if they feel like uh that's the place for them to like hang out um but yeah i think they and you know
the rest will eventually filter out but you do have like that advantage of having them
actively trading and pumping up the volume numbers and stuff like that, which is like a marketing tool if used, right?
Because, you know, platforms usually tend to rank collections based on volume.
So, yeah, I would say it's impossible to not draw in flippers, but it is possible for them to be converted to loyal community members
and to act as a, let's say, a marketing tool for the collection.
Go on.
You can go next.
Yeah, go on, don't be shy.
Yeah, okay. Sorry. go on you can go next yeah yeah go on don't be shy yeah okay sorry i wanted to say is my
odd stick is um no one is in inherently like a flipper or a holder i think the the responsibility
for determining like or should i say like knocking someone into being like a holder or a flipper
depends on like the NFT.
The truth is people sell what they do not like and people buy what they like.
That's kind of like the truth.
So if someone sells something, it's because they see no reason to hold.
So I think the responsibility is on you to make like people that sell
have a reason to want to like you so uh you know we've seen cases
where people sell something today and then literally immediately they're feeling regrets
or like a few days later they're feeling regret so it's kind of like how can you make sure every
seller regrets selling how can you make sure every buyer never regrets buying so that's kind of like
what i think uh like as an nft founder this kind of like what I think, like as an NFT founder,
this kind of like what you should be optimizing for
rather than, you know,
outrightly like categorizing people.
Oh, this person is a flipper.
The truth is someone who flips 100 NFTs
back to back to back to back on first like means.
If this particular person has a reason
to hold your own NFT in particular,
they are likely to hold. So it's more of the case of how can you ensure you have like this really wide surface
area of like conversion where you know people conversion and retention yeah let me use this
two words because we're people that are you know bound to like sell or other people that sell how
can you combat them into holders and then people that sell, how can you combat them into holders? And then people that are holders, how can you retain them?
Because a holder today can become a seller tomorrow
and a seller today can become a holder tomorrow.
So it's just, how can you optimize for like both parts?
Very good point, actually.
Like I really like, someone should quote it as a tweet,
you know, like no one is inherently a holder or a seller.
That's, like, actually a very, very good point.
It's on collections to make the potential flippers holders.
And hopefully not the other way around.
But, yeah, like, I personally, I very, I have a horrible mint luck, like horrible.
Like imagine like if I mint, I will mint like the ugliest, the ugliest possible PFP combination
of trades that the artist just has not even thought possible.
So I actually am usually a yeet, like I will eat whatever I minted and I will buy a better
looking one just by virtue of having to.
Okay.
Like I could never, ever PSP whatever I minted in my entire life.
But, but small.
Go ahead.
Well, my first comment is on the pronunciation of the word yeet.
I thought it was jeet.
So I don't know who is correct and who is not.
Now on the matter of...
She made it PC.
Jeet is racist, so she changed it to Yeet,
which just means to throw stuff, which isn't racist.
So she made a smooth pivot there.
I actually have only ever pronounced it as Yeet.
Anything else completely eludes my vocabulary.
It is Yeet on NFT nft yeah different thing so yeet is when you throw something jeet is is short for panjeet which implies that the
indian people sell things very low so we but it's it's been normalized in uh crypto where like you say it without being racist though so i think i think
i think it's safe i thought this is just like gen z speak for throwing something like eating you
know yeah yeet is different thing oh you made me it made me really scared for a second and i was
just like walking around like you know uh slurring around um hopefully not small why do you find that entertaining
i know bro start to say something and then the racist conversation starts happening and i'm not
sure if i should continue but just pass it to benzer like i don't know i feel a big threat in
here i forgot i forgot what we were talking about oh Oh, yeah, about me eating the PFPs.
And then we wanted to go to the next pass.
I'm going to give it to the next side.
I'm going to speak more.
We killed the vibe.
Slow, you killed the vibe.
Hey, you know, sometimes you just just gotta mansplain and keep people informed at the cost of the vibe
this is me hereby requesting that next time you do not sacrifice the vibes
maintain the vibe at all costs even of our linguistic integrity i guess
okay okay i'll take you over, okay?
We're good to be good to worry about the racist things.
So I don't want to say that Zane,
on his very long talk, like every other time, he was correct.
There's no inherent clippers or holders.
I think there's two kinds of people,
the experienced NFT traders and the non-experienced.
The experienced NFT traders know how price action works and know when there's money to be made.
Now, would they decide to become holders down the line?
Well, it depends solely on what the incentives of the NFTs are, who's making it, how close you are with the team,
what do you know about them, do you have any insider information, are you part of the cabal?
So it will come down to that. Of course, you're going to see you have the burger flipping,
I'm not mentioning John W now, I'm just regular people, burger flipping individuals will try to
capitulate on the hype. These guys are going to get absolutely wrecked.
And at the end, we're going to see people holding a healthy amount of NFTs of which they believe in
and just having a good time. But initial price action is when the money to be made
time is going to be. And if you're not ready for that,
you don't know what you're doing
and how to assess the market conditions,
you're better off just, you know,
minting a couple and see if you can make some money
or just holding the damn thing
and hope that doesn't run key at the end.
And I'm going to go to Jivan.
Jivan, before you go, I just wanted to say there's a very very
good comment from dogwiz who is saying i think i think the market should praise your price your
mint and i actually genuinely agree so what i meant beforehand with creating a range that you
know would work for you as a collection i i believe in not announcing the mint price much in advance like i believe in
actually waiting observing the market and giving yourself the freedom to adjust the supply and
price and by this i don't mean wait until last second and try to like max extract i just mean
as soon as they as you put out numbers out there, people are gonna like really really zero in on them and
it's gonna be very difficult to adjust later. So it's really good to just wait and know your
numbers internally but then be free to adjust a little. Jivan, what do you think? Yeah, um hey,
been a long time since I came here. We're locking in for the release at purple we dropped the first hint today so yeah
anyways good to be back had to chill for a second but um yeah i gotta take on this i don't i don't
know if anyone said it but dude how do you guys feel about uh pricing like looking at the mean
price time supply as the market cap specifically you could say that you know
10 000 budget penguin nfts and then you know times 15 times 3600 and that's around 600 million
market cap now if you look at this like that i think that's a very fair way in general to look at
I think that's a very fair way in general to look at the means.
Specifically, yes, you might do your budget and you might decide that you need $300,000 to run an NFT project.
Then, you know, you might think that you've been running this for a year already.
And I feel for all the people doing it.
I feel for all the people doing it, but at the end of the day, if, if you raise more
than let's say a hundred thousand dollars, which is a hundred, um, you know, how much
is it?
Dude, I can't do the math right now.
Whatever.
You know what I'm talking about.
10,000 NFTs times 10, right?
And that is a hundred K raise.
It's the equivalent to dropping a presale at 100k market cap. Now if you don't have any traction
That might not be low or if you have traction that might be very low
I don't know. How do you guys feel about approaching this like that?
Oh, definitely and before you came on and soft shield purple, uh, we actually talked about how you really need to
shield purple uh we actually talked about how you really need to uh you really need to to look not
just at the price per mint but also at the supply and multiply them and that's like basically the
only source of truth um but i look this is a super important reminder and definitely i personally
think what you should be looking at is this like market cap, like mint market cap, whatever you want to call it.
And be very humble with it because so let's let's by the way, the poll that I run, right?
Like most people, I mean, unsurprising, but most people chose in the poll that for a collection of the 5k supply with no detailed roadmap.
So it's like it's very good art. It's very good, like vibes, but there with no detailed roadmap so it's like it's very good art it's very good like vibes
but there is no detailed roadmap they would 63 percent people would only pay under 50 for that
and then there's actually a surprising distribution 22 percent would pay between 50 to 100
dollars and then there's just a few percent 100 to 150 and then there's just a few percent, 100 to 150. And then there's just like Madlets who want $150 and above.
So pretty interesting distribution, but not very surprising.
So you have 60, 70, over 85% of people would only pay $100 or below for a mint like that.
And when you look at market cap, which is what Jivan is saying,
when you have a 5K collection at $50 per mint,
that is a quarter million dollars capital raise, 250K.
If it's $100, it's half a million.
So, you know, like there is quite a bit of stuff you can actually do with
half a million dollars. There is very, very serious projects out there, like not NFT projects,
but actual projects with a product, you know, I don't know, DeFi stuff, consumer stuff that started
with less than 500k in angel checks. So, you know, just be aware of what it is that you are investing
quote unquote in if you feel that nft buying is investing i personally when i buy an nft i just
consider all my capital lost um due to my track record of having luck with it but if you are
actually thinking that it's an investment, think like a VC.
Like, will those founders actually build anything with like half a million dollars?
If the answer is no, then, you know, maybe just don't be angry at everybody after when it goes gobbling down.
Jivan?
yeah and kind of doubling down on this right when you do a raise like that and when you look at it
Yeah, and kind of doubling down on this, right?
as a as a raise as a as a pre-sale not a raise as a pre-sale at a specific market cap dude like
that money exits the ecosystem so it should be discounted also like you can't just be like oh
it's like 100k market but yes it would be if the liquidity remained in the ecosystem,
which is what happens on a meme coin.
So one, I genuinely don't understand why we never see teams
like injecting, adding part of the liquidity in offers
and making the NFTs a little bit more liquid.
I think it would make sense.
Oh, 100%.
NFT market making exists there are companies out
there yeah who offer specifically nft market making however it's very very expensive um i
mean in terms of you know you need to provide capital to do it so usually it's actually done
for like the first week around mint and most um most like intense market making is usually done so you know when
like the mint is live and people can already sometimes like sometimes like the mint is still
live but people can already list so if someone like mints something the reveal is instant and
they are just eating it um on the secondary then you don't want the price on the secondary to fall under the mint price
because then the mint is just going to stop and it's not going to mint out, right?
So the most frequent type of NFT market making is actually around your mint
to make sure that the secondary price remains as high as possible
so people mint out as soon as possible.
Exactly.
By the way, I don't know why we don't really talk about it.
I think it's the
first time I heard Danny chat about this. Maybe I'm wrong, but I think it's super important and
underrated and should be taken into consideration that you need to be, to care about that. And
the mean fun should not just be like, how much money can extract? Like if we're being honest,
like 99.999% of nft projects are just a discourse
server with a bunch of people you know running a twitter like it's it's a business that happens
on twitter like you don't need millions per year to run this it's i don't know dude so anyways take
everything into consideration is what i'm trying to say and be honest with yourself and number one
thing dude you gotta make sure that people win.
It's like you should care about whoever buys your thing.
Like they should be happy.
It's not cool to let people lose money.
Zane, add to it.
Yeah, for sure.
I think I do agree with one part of what Jivan said.
You need to be intentional about making sure there is upsize for your holders.
But I kind of disagree with markets making with NFTs.
I think market making NFTs is like suicide because NFTs aren't inherently a revenue generating uh what's it called like it's
not a revenue generating model you know it's kind of like be friends when uh when people use your
products they pay to use your products you're generating revenue from your products and then
you're using this money to buy back so this way just means that instead of uh what's it called
you extracting all these things
you're getting from the people you're giving it back to the people but like in the case of nfts
mint funds is literally a one-time event like it's something that you should be like thinking about
oh how can how can i like make sure my like uh whatever i'm getting from Mint is perfect enough to sustain me like a year at the very least.
But if you're trying to put that back, like you give a raise, for example, I think I dropped the tweet you made that if someone wants to do a 5k collection, it was like the reasonable price.
I said around like $20 to $50.
Okay, so $20 to $50 is around like 100k to 250k so imagine you do an
at and then you raise 250k for example if you're trying to uh you know pull back that 250k
into market making it's like you're pouring uh what's it called you're pouring water into a sieve
like you're not it's it's not it's not a money that is going to like come back so you're putting your own like growth at risk to you know um to create the
perception of uh value on secondary rather than dude i think for nft it's like better to try to
organically create value for your collection if it's a money-making product then 100 you should
be like giving like at least a very huge chunk of that value back so like uh you know your holders
but like in the case of nfcs nfcs are not like they are non-fungible so like they're not tokens
that like hold one ratio one liquidity if you're trying to market makers it's it's like pouring water into AC basically
uh by the way saying I do this disagree a little bit but which uh about what you said um I think
you need to keep in mind that we are running a business right like we are we need to pay the
people we also need to like pay them for us for like to work for like couple maybe years um yeah
you cannot pay any everything back to like the people
that mint it and then expect
the project to do well
without like any kind of
revenue
so that's like a fine line
between that I think
yeah
and by the way like
something I did want to add is that
for like it's not always, I mean, it's difficult to say, but like, it's not always a red flag to see a higher mint price. And I will tell you why. Because it's like, let's assume you have a collection that actually has like some ambitious plans. Like, you know, let's not go into the detail of what, but like they want to deliver on something more long term. It is actually incredibly difficult for an NFT collection to ever raise money again.
Like if you remember collections from last cycle, there was a very big period of sort of like them
running out of money, doing secondary mints became like a very popular thing to do. And everybody
hated it. And one of the reasons is because you feel like
you are being extracted from like you you you bought this asset because you believed in the
execution of the team but suddenly like their next step is just to sell you another thing
um and i don't think that's always like you know the right accusation i think some secondary
collections make tremendous sense to you know know, expand the ecosystem, etc.
But overall, it's just whatever you do as an NFT collection, you're always going to face that accusation that you are extracting again.
So teams are very, very afraid of that and just got into the mindset of just, you know, whatever money I need to execute, like the mint is my only chance of getting it. And quite frankly, unless you really build something that drives additional revenue,
this could be, you know, like, I don't know, like a trading mini app, trading bots.
This could be some kind of tooling that you like make available to your holders.
Unless you find some way to make additional revenue, you are going to run out of money.
Especially if you, you know, did like a smaller mint like like we're saying like cheaper mint and you are going to
eventually die so you know like this is another thing you should be considering like how how much
longevity can you actually promise holders because even if you like mint and put your files like your
images on IPFS,
like there are collections out there where teams run out of money.
They just abandon the collections and the files on IPFS just get unpinned. And suddenly your NFT you bought has like no image anymore.
Like those things happen.
Question on this exact thing.
If you're not planning to create revenue what are you building
why do you need money to continue running for ages like what is something that you might be
doing that is not producing revenue and is not going to produce revenue that it requires you
to spend millions and millions i mean the answer is not that much.
But I also think there is, let's not kid ourselves either.
I know we are saying a lot of things here that are contradictory on this basis.
And when we say contradictory things, it's because the NFTs as a vertical are a very broad vertical.
And the projects are so different amongst each other.
So we are trying to sort of like generalize here on stage, but different things will apply to different collections.
So yeah, like lots of people in the comments and cetera saying, oh, we're saying conflicting things like, yeah, because it's very difficult to say something that will apply to every single project ever.
to every single project ever.
But it's a good discussion to have.
But it's a good discussion to have.
What I personally think is very, very important
is also to acknowledge that no,
not every NFT project should be likened
to like an actual business.
Like some of them are just what I would consider
like social happenings.
It's almost like a short-term flash mob.
Like not everything has to be long-term
I personally really enjoy just you know minting whichever flavor of the degenerate
humor happens that month and I have some fun like I PFP it like I comment on on different people's
things and then I kind of just forget about it. Like not everything has to be planned out to live forever.
So those are my two points.
But in that case, don't expect people to pay as if you were building a legitimate business.
Like having no roadmap, just building an NFT for shits and giggles and having fun is 100% a valid approach.
It's amazing.
Keep doing that. Like we need the vibes we
need this is what we are here for it's super fucking fun but then don't raise half a mil
for fun and vibes um i guess that's like my main point of this like you can 100 charge more
and that's fair if you deliver something fun and you can charge nothing and do nothing and that could also be okay
you know like there's like a wide
spectrum to this thing
Chog
Meow
By the way yeah yeah yeah
Yeah we're gonna raise a few millions
based on fives only by the way thank you
Karma
Yeah I was waiting for this.
I was waiting for you to announce that, you know,
you're raising at like four bill valuation.
Your advisor is whatever the pump fund guy is called and that you've been his ghostwriter all along.
Those are the announcements I was awaiting in this space.
Yeah, I'm not going to confirm this,
but you haven't seen me and alan in one room at the same time
um i just want to tell um slow that though is very very upset about you calling him a cheat
um i hope you apologize wait who did i call a cheat uh toad he's my co-founder oh no oh hush
Oh no, oh hush.
So no public apology? Okay, that's fine. That's cool.
Yeah, that's the only thing I just want to add to this conversation. Thank you.
Very valuable. That's my co-host.
Expected nothing less.
Hey man, I didn't invent the term, I just explained it.
in all fairness he explained it in belief that he's saving me from continuing to use the wrong
words so i do have some appreciation for that but actually actually guys like we are gonna go to mike
oh my god the one and only elusive mike yeah i know i know. I know. It's quite rare.
Yeah, I will not.
I will just jump from the topic that's low-raised.
We don't want to talk about it.
But I really like the point about contradictory things, right?
Like, I have some experience with NFTs.
I've been in space for a long time.
And I might say like some things
that are not very pleasant to hear,
but this entire like industry,
NFTs and all this stuff,
it's very, very hard to become successful.
And that's right.
It's very hard to launch a successful project.
That's like the reality of it.
And the reason why it's contradictory
is because there are like so many factors launch a successful project that's like the reality of it and the reason why it's contradictory is
because there are like so many factors that you have to keep in mind and even if you like make
everything perfect right even if you have like a perfect launch it's not a guarantee that you
will become successful uh in the end that's like the reality of it uh like there are so many
examples where people did everything perfectly right by book, and they still didn't make it.
And there are also, as you mentioned, there are some like crazy projects where they just throw like shit around.
They just like memes fun and all this stuff, no roadmap, just memes.
all the stuff no roadmap just means and they did very well and funny thing is at least like from
And they did very well.
my experience it's almost impossible to predict if this specific project will uh will become
successful other than like some basically a kl managed where you know people pumping money and
just uh having some like very strong people behind the projects where it just can't fail
because again, there are names attached.
But if you're launching like from ground zero,
it's extremely, extremely complex venture.
And yeah, even if you make everything right,
even if you did everything perfect,
it's not a guarantee that you will succeed.
Ironically, if you fail the launch,
like if you fumble, if you mess up,
there is a very good chance that you will not recover.
That's like, unfortunately, only way, one way road, right?
So if you do everything good, you still have a chance,
but it's not guaranteed.
But if you mess up in the beginning,
you will probably not be able to recover.
That's like the truth.
And the final point about the price isn't right. Yeah, I will probably not be able to recover. That's like the truth. And the final point about the pricing, right?
Yeah, I would probably, the only concern you should have
probably is just to make sure everything properly minted out
and there are like people who did not get in
on the, during the mint, right?
That's like, should be probably the main concern.
If you manage that, if you properly price to to make people want more you should be able to you will be fine at least like
a short term right you'll probably survive those are my two cents on the topic
i am honored i'm in fact i am super speechless like i can't believe mike blessed us with his
wisdom and this was
actually a very very good summary of the entire spaces mike like um i really appreciate everybody's
takes we are already like half an hour over and by the way we had a moment during the spaces when
we were like 430 concurrent listeners that's incredible guys i love you all I really really love that our Friday NFT time has
become like such a such a lovely moment for all the community to come together like everybody's
dropping really insightful comments there's so many discussions that are happening on these
so every single Friday when I wake up and like make my morning coffee or tea I'm just super super
excited to chat to you I want you all to know that. And I love the
support that The Spaces is getting and every single person that takes time out of their day
to come on and chat. And like, I personally have like another 10-15 minutes to spend here. So
that's, I think we can just continue running it. It's a lot of fun. If anybody needs to drop here
from the stage, like feel free to. I guess like, you know, Mike, and a short, like, counter question,
since, like, this is a rare occasion to have you.
I wonder, do you think it's perfectly fine?
And this is a bit of a tricky question, I understand.
But do you think it's perfectly fine for someone to make a payment
and do absolutely nothing post mint like no support
no further uh like you know plans no roadmap that's something i've always wanted to discuss
with people like you create an nft project you have cool art some good vibes and then you just
never like continue to develop it again do you think that's fair yeah i think that's totally fair i think for some projects
not for obviously not for every project but for some projects that should be like the end go
where the project is self-sustained where you don't need to fuel it where it's just like kind
of culture where people just hanging around they have something common right they have like
a common ground and you're
basically not doing anything, right? You don't have an expense. You don't need to manage it properly.
It's just self-sustained. It's very hard to achieve though, because it's not just like NFT
topic. It's just the broad topic of building communities in crypto and web three. It's
incredibly challenging building culture that is self-sustained and you don't need to inject money
or like specific guidance, right?
Specific events, specific roadmaps.
It's extremely hard to build.
But if you can manage it,
if you have a good meme,
if you have a good joke,
if you have people who just kind of roll with it,
I think it can be like a long-term solution
for a collection. if you if you'll
manage to properly execute in the beginning if you manage to set up all the all the all the
parameters in the beginning the way it will not just break it completely right because again if
there's like very low barrier to entry uh there might be like people who are jumping in and just breaking things and diluting the
culture and making it not as pleasant.
There are some people who want to gate it right.
There are some people who want to make it more open.
It's a very hard balancing thing.
So in my opinion, that's definitely a possible way, but only if you manage to to properly execute in the beginning and
again the meme is good yeah i think like historically there's only a few collections that
manage to achieve that escape velocity where even if the team members never like tweeted again
the project i think would continue um just being successful and like you know milady
being one of them like pengu obviously like i genuinely think even if luca stepped down and
never tweeted again in his life like pengu has reached escape velocity it's no longer tied to
its team only um dog with disagrees with me um do you want to do you want to like contradict hey uh jam jimmon at everybody thank
you for having me up uh yeah actually i mean i love this convo and i'm like a nft nerd like i
love holding bags that go to zero and just like oh look at my wallet you know um i i do disagree
with you in that point though because like i think think Luca is one of the main driving forces right now with Pingu and Pudgy Penguins, especially in all like the BD side of it.
Like, for example, them getting like the ETF, you know, getting on Walmart, getting on all these different places. Right.
Like if Luca steps down, I definitely think that, you know,
Christ might not go down to zero, but I definitely do agree.
I think that it will take a really big hit.
We've seen it with Frank, right?
I think D-Guides is a great project to study because you saw,
if you were early enough to remember how they minted out
and the kind of like hype that they had,
there were people saying like if
frank leaves solana solana dies like do you know how like like there is there is like levels to
this shit right like for you to say that a person leaves and a blockchain dies it is the craziest
thing i've ever heard in my life right like and they and people cruelly believe that right but look at it now
right like now like the d gods community are still i feel like they kind of did that skate velocity
even though they're like super cringe if you have like a d god pfp it's like ew whatever i i hold
d god so d god mode um me too d god mode um but so like and like i think like and frank actually spoke about that right frank spoke
about i'm not even trying to glaze him or anything like that because like i i'm not a big fan of frank
um but i'm a big fan of d gods right um i think they experimented and he even said like this is
not about him this is bigger than him the movement should be about bigger than one person right like it shouldn't be like an entity that runs the hype
it should be like the culture the cult right like all of these other different things like
i don't know actual members community members that are taking upon themselves to become leaders
like for example we
saw that with sunny right because when uh frank decided to just go on his grading bender which by
the way i'm okay with like hey man do you get you know get gen wells um sunny i felt like was the
face of d gods for like a really big part and like he was actually the reason i fell back in love with d uh d gods right so um that's
my only thing and and i i love this combo and i would like yeah i want to i want to keep talking
but like i have so many like ideas and thoughts in my head that i don't want to like go from all
the conversations we had so i'll just no worries man this was a really really good point and like i remember the
the glory days of d gods i bought like a really rare zombie and i was so proud of it i genuinely
enjoyed the art okay like the art was definitely like i was definitely not the core target audience
for the gods art like i'm a chick but that art slapped i i will i will die on that hill the gods are i bought i bought an ape d god ape
skin d god just to be just to feel like oh look d uh frank had one too you know like like how
cringe is that like that sounds so terrible to say but it's okay like whatever i make fun of myself
right because that's just what we have to do to kind of, like, live this miserable life. But, like, yeah.
Like, I love the ape ones.
Like, I remember youths were, like, 200 soul a tube before they even freaking, like, revealed.
Which is, like, ridiculous thinking about it now.
Dude, people did, like, behind-the-scenes deals with friends to, like, split the tubes.
And it's, like, the most insane shit to get to mint, like, a youth.
It was, like, the trenches were alive like
you were fighting for the youth's whitelist like your life depended like the life of your entire
family depended on it it was insane okay um yeah good good actually but to your point can i do one
final thought one final thought like so go back to go back to um going back to what jivan said about like
um or i remember who said it should they should a project uh have a mint price if they don't have
like a roadmap later i think like the biggest thing is like transparency like if a project
isn't going to do anything just be transparent with people don't build this weird like for example me bearers right
me bearers with uh uh johnny dude their lore was crazy like they had so much like milady lore and
all this crazy stuff but like it kind of just became too much and then like look at the floor
price now right like it's reflecting upon that so like and i think it was just because he wasn't transparent he just had a
whole bunch of fluff so like yeah lore is great but also transparency like what makes you know
real holder stay in my opinion yeah amen to that um before you go jivan okay like i i see where
you're where you're coming from like i definitely agree that no collection can become big and successful without, like, you need an absolute evangelist.
Like, you need your, like, NFT Jesus to guide you to, you know, Valhalla.
I'm mixing religions here, but you get what I'm saying.
Like, you need one central figure around which the community can actually congregate and believe in.
And this is, you know, this is actually a good thing to look at.
Like if you are looking for a collection to become a very cultish community,
but it doesn't have that figure to congregate around,
I don't think it's going to make it or it's going to be much more difficult.
So just team members, like the entire founder meta guys like founder funnel
not just for nft projects but in general for like all protocols or builds or web free like startups
like unless the founder is out there like in the trenches like every single day fighting
for uh for the collection to like have mind share and and and have belief and gmi g1 oh man um first of all um
i just tweeted out a a quick website where you can go and scroll supply and mean price per nft
and you can quickly see what market cap that means uh go check it out and shout out to Mizu for videcoding it in
10 minutes while we have this discussion.
That's crazy, bro.
That's insane. Where is Mizu?
He doesn't... Dude, he's
coding all day. What do you mean?
He's literally...
Man, I just...
Is he listening?
He's listening here?
Yes, I think he is, I think he is.
I just want to, Mizu, if you're listening to this while coding on your computer, we love you.
We all love you.
not because we cannot code but ai is coming for us and yet even with the newest chat gpt and claude
You are the 100x devs we all strive to be but cannot because we cannot code. But AI is coming for us.
a baby model i don't know baby love baby model we would never even be close to you thank you
we love you and we are all going to go and use your website now go check it out it's very cool
um but yeah one final note from me because I spoke a lot about the other side.
I also want to talk about the plus side.
Like, if you're killing it,
if you're absolutely killing it,
and you're viral, and people love you,
and you have a community,
like, do your thing.
Game is game.
I also want to talk about that.
And we always talk about the other side of the equation.
I feel like we might end up hurting some potential great projects
that are going to be afraid to say.
Obviously, to those guys, like be respectful and all that stuff.
But if you got game, you got game, you know,
because nobody wants to pay above $50.
But if you got hard, 50 dollars is low gas that's
what we used to call it back in the day so yeah that's all that's all spoke a little about the
other side i felt like we need to we need to really stand up for our good projects as well
dude like yes grouping it all together is is good in general but it's also horrible for our good
projects like i don't give a fuck if a good project that I know is going to cook
ask me to pay a thousand bucks,
I'm fucking paying them.
I don't give a fuck.
Like, I've done it.
I've paid more for a mint.
Like, I've minted something for 10k,
and you're fucked.
If you run a good project,
you run a good project.
Definitely.
But it's also a hallmark of a good founder.
Like, a good founder knows the value he delivers
and knows the value of the project
he's bringing so like like very very honestly like the entire you know this meme where it is
like a sea of people and then like one person and that one person is like you are all wrong
like a good founder can can be that one person like the entire community could be like i will
not pay more than 50 like karma's poll on x said no one will pay
more than $50 and like a good founder will know that they can build the right hype they can build
the right environment and they will know like I am going to charge x and I'm going to mint this out
and they are going to make it work um so yeah definitely like the the takeaway of this space is not this is the playbook that everybody should be following.
It's more of a like reality check, like listen to people on stage, like understand what the different opinions are, because those are the types of opinions that you as a founder will need to actually be faced with from your community.
So these are the opinions that you need to prepare arguments for.
Like, you can charge whatever the fuck you want for your mint,
but you need to be prepared to actually justify that
very honestly to your community.
And they will decide if they believe you
and if they want to pay this.
But it's good to be aware of how people are thinking about those things,
and that's the very goal of these spaces.
Yeah, Small?
Thank you for bullying every founder in the ecosystem as to not raise the prices above
$150.
You must maintain the capital that we've built with such hardship.
So, yes, again, thank you so much.
And thank you, Jivan, for saying that you're going to be minting for $10,000.
Nobody should do that.
We should all follow Karma's instructions and have low mint and high upside.
Thank you very much.
Dude, I'm not even drawing.
Remember the Xcopy mint?
We were waiting in line to take $8,000 per minute.
Don't fucking try to do that, okay?
Nobody wants Benza or whatever else trying to fucking charge us 5k
because he's raising up all of CT.
Nobody cares. $150.
He can live without... He's already rich.
He's already rich Stephanie the money.
Come on, man.
That is true.
Come on.
That is true.
Yes, but imagine Benja means like does all
this and then on the final day he announces you know 100k mint and then someone he pulls it out
and he he grabs like a couple of trillions and he then he runs a big giveaway just for engagement
and donates the whole thing to one person randomly picked you know through twitter peek oh my god imagine imagine benja runs a
mint so high he acquires monad the first NFT project with a blockchain oh my god oh wait
that's the goal karma um joke is gonna flip monad that's that's the goal
okay okay before we before we get into like you know
delulemon territory um here zane and then drake um do you wanna like um you know like we would
love to hear from you too yeah um i think i just wanted to add one final notes in nfc the most important thing you can have as a founder is transparency nfcs need
like high resonance at every level and the way you actually view that is true transparency
it's always cool like if as an nfc founder it's it's perfect to have a honest and transparent
line of communication between yourself and then like people you're
building for.
Things like always having like AMAs with the hard questions like that community have,
they can ask and you give them the comforts to, you know, feel confidence to ask these
questions.
And then you answer them confidently, which in turn
also gives them the confidence
to continue to be community
members. So I think
that's one trait that
I would love to see
more on NFC founders, transparency.
I think mystery
is sexy.
Yeah, that's why I did my hand up as well, Slow.
I was like, what is he talking about?
What transparency, dude?
Transparency about what?
These guys are selling JPEGs, dude.
Transparency about what?
You just need them to be cracking banger jokes all day.
We want Benza to lie on the timeline all day.
That's what we need.
No, I'm joking.
I'm joking.
I'm joking.
I'm joking.
I don't take it seriously.
I don't know, man.
Are you building an esoteric society?
I feel like mystery is very important to that.
You can't let everybody know the rituals that you're going to do at each level, man.
It's actually true.
Like, do you remember?
Actually, you don't need to remember.
Like, overall, announcements are bearish.
Sorry.
So what I mean is an announcement of an announcement is bullish.
An actual announcement is bearish.
If you actually look historically at charts, like price charts of NFT projects in the period of anticipation, like when there's like rumors that something is about to be announced, like we are all just like small brain degens.
Like, ooh, there is going to be a big we are all just like small brain degens like there is there is gonna be a big announcement everybody buys everybody holds everybody like loses their fucking minds the
charts go up and then there is an actual announcement that announcement can be bullish
as hell it can be a huge partnership it can be whatever the price immediately dumps. Like esoteric wondering and esoteric mystery is sexy.
Actually knowing what happens is bearish
because DJs are like, oh no, I'm no longer entertained.
But okay, so like this is one truth,
but I think what Zane meant beforehand is actually also true,
which is I think what people want is transparency
around the pricing and what you are promising. So what I mean by that is, if you charge me like
200, $300, and you have slapping art, and you're like, this is only for art, I will never develop
anything about this collection. Like, I have received transparent information information and I am, I just, I'm not going to
be angry at you, even if you never develop anything about this collection again, because
you told me that upright. If you charge me $300 because you claim you will do a follow-up collection
and you will do regular drops for your collector and then you don't, now I'm fucking angry at you.
Now I'm going to fud you to the ground.
So I guess that transparency over expectations is something very important.
But for the actual building of the collection, building of the path that your holders are on, mystery is sexy.
I hope this is a good summary.
Woo woo woo.
Sexy mysteries.
Honestly, guys, like I could chat for hours, but like it feels like we are never gonna end let's let's do jivan and small and we still haven't heard from drake
yeah dude i got i got it 50 000 things i wanted to say but i just looked at the time and i think
i just won't but yeah dude mystery is very important and very quickly i
remember i was over invested in this project i tweeted about it that's my like one of my biggest
fumbles of my entire life like actually runs with like six figures and i remember actually like zero
information super bullish and they come out and and the big thing happens and then they drop a
big roadmap and everyone can clearly see when everything is going to happen.
So the entire colder base just dumps everything.
They're like, well, I'm just going to buy it back in three months
based on the roadmap.
And they never came back.
No, transparency doesn't make sense.
Speculation is great.
Marketing is good.
Nobody wants to know exactly what's going to happen
because then everything is actually priced in.
There is no speculation and that's bearish.
Yeah, that's everything.
I'll stop now because it's late.
Small, small.
Go, go, go.
No, I actually kind of agree with Jivan.
I think mystery is the core of attraction.
It also happens with humans. If you know that you're going to be kissed, you might not want
to unless they're very hot. But I think on the other side, we have over, what's the word,
romanticized NFTs, which are meme coins with JPEX attached to to them and people will not be upset about losing
the money if you know what you're doing just get your initial spark by picking up a couple of the
NFTs and then just have fun with the community see if there is any I'm going to use a word that
Zane is using a lot an inherent value into holding it and see if the community is actually producing
something for the long term.
And that's up to you to decide.
But overall, being upset because you lost money gambling or meme coins with JPEGs on it,
you are retarded.
Inspiring speech.
Inspiring speech. You must have been a valedictorian dog with yeah no I was just going to say thanks to Jeevan I'm gonna drop a con well thanks to Karma and
Jeevan I'm gonna drop a collection of 10k that's $49 and then actually have you guys heard about purple because if you mint uh once you
mint and then you go use purple the platform i'm going to airdrop you three extra credits to trade
on purple uh just by owning that nft so uh yeah reach out to me uh wait wait wait you haven't
disclosed everything i heard like also like heard also owning your collection gives you free guaranteed whitelist for the Chogment.
Oh, yes. Thank you, Karma. I forgot. This is one of the points here, but I was just rushing because I'm nervous. But yeah, that's right.
Okay. Thank you, Benja. It's so gracious of you to offer it to all the listeners of nft um totally true by the way everybody who's
ever listened to nft uh gets gets a whitelist for chog um honestly you're you're a real one man
yeah as a founder i can confirm this this totally true um collection is going to be 20k so it is
totally different from like what the rest have uh 1k mint price whatever I hope you guys are rich
I hope we get like an airdrop and we can just all like mint the joke NFT um I do wait Benja is it
is it 1k Mon and Mon is at 20 right each oh yeah that would be lovely that would be like the goal
especially with 100 billion supply then Mona's gonna launch on like how much is that 200 billion supply, then Mona's going to launch on like, how much is that?
200 billion?
Yeah, that's insane.
I just want to share something because there's like a fat boy behind the screen
talking to me and he's saying he has dropped like a banger video about Greece
meetup and I did watch it and it's truly a banger.
So if you don't mind, Karma, I want to pin this.
Wow.
Did you, like, Dr. Benjigun asking for permission to pin something on spaces.
Did I just witness this ride?
Like, I am so proud.
I'm so proud.
We raised you right, Benja.
Like, of course you can pin whatever you want.
Oh, yes.
Thank you. I raised you right, Benja. Like, of course, you can pin whatever you want. Oh, yes. Thank you. I love you.
Okay.
Well, guys, like, we really, really, really, I feel,
should bring this to a close.
We run over by a full hour, but I just honest...
Oh, Draki.
Draki waits until I'm ready to close the spaces
to finally grace us with an insight.
Go ahead.
Hola, gente.
¿Cómo están?
Lo único que voy a decir
es que todos los retards
están while listados
en mainnet.
Oh, my God.
Please, someone help me.
She said something about mainnet.
I think he confirmed
retards are mainly on mainnet.
Can do have a Spanish person here?
I don't think we got one.
Oh, my God.
It's okay.
380 people.
Carmen, you got 400 people in here.
I'm pretty sure we got one person who understood that.
Yeah.
Okay, whoever understood that,
you are required to post a translation as a comment.
Please, please, please.
And tag me.
God, my notifications are so close.
Wait, was this in Spanish?
Was this in Spanish?
I could translate.
I just got a phone call.
I missed it.
Sorry, I'm not going to say it again.
Oh, my God.
Someone grabbed a recording of the spaces after it's over.
The one person speaking Spanish on the fucking panel here, like, wasn't listening.
Drakey, this is like, okay, look, look, look.
Drakey.
Can you do that noise again?
Drakey.
This was a one-off only flow.
I'm not a trick pony.
I don't do these on demand.
I'm proud of you for that.
Someone's going to clip that and add it to the soundboard.
I can already feel it.
Someone should do a compilation of the weirdest sounds
karma has made on spaces.
Oh my god, why did I say that out loud?
Back to Draki.
Back to Draki.
You took us saying things about mystery being sexy too literal.
Like I take all of this back.
I hate mystery.
Mystery is bearish.
No one should ever use mystery as a valid concept.
Most specifically,
no one should ever speak Spanish
on a basis with English speakers.
I'm just a reader.
I don't understand anything.
Oh my God, that's such a fair point.
Wow, I love racist karma, man.
I love it.
No, stop it.
This wasn't...
Oh my God.
It would be so funny
if I ended the phase right now.
Bye.
Ciao, Drakey.
Oh my god.
Came, brought chaos, and left.
What a legend.
Okay.
I see King Louie's face in the pinned tweet. So I guess Benja has finally succeeded.
I was here. I was listening. I was here.
Okay. Diego, Diego, can you please?
Yeah, I can translate. I don't know if Drake is allowing me to, but he said something uh maybe all the holders might have something no i'm just
not gonna say anything oh my god two blue ball moments in the row like are you like have you
spoken about this before like was this planned between you and drake no i don't know drake at
all it's not my friends i'm just kidding no just kidding. No, we haven't talked about this.
This space is honestly so fucking funny.
Like, I had so much fun today.
This was still absolutely insane
in every direction possible.
While 400 people are listening live.
Crazy guys.
Crazy guys.
Only in Monad.
Only in Monad.
All in one.
I was kind of hoping that if I just remain silent, Diego will feel uncomfortable enough to just decide to translate.
This is part of the game.
Can I say something quickly? I'm going to tweet Drake just announced live in Karma Space
that all retards
testnet holders will get mainnet
widely. So regardless what he said
now he said that.
I don't know what he said.
Why would you do that?
I just want to spread rumors, dude.
Seems to be working fine for people.
No, dude. I like this news. If Seems to be working fine for people. No dude.
I like this news. If that could be true, great.
It might or it might not.
Oh my god. Okay, okay, okay, okay. Well, um, I'm gonna hope that it's true.
Um, I really want to mainnet retard. Um, I know I'm not the only one.
But, let's see but let's see.
Let's see.
I did reach out to Draki before I made my graphic yesterday.
You know, the graphic with like which testnet mints whitelist you for mainnet mints.
And like he just said, like, I don't know about this.
Like, it remains a mystery.
So very committed to the mystery part here.
Very consistent. What can we do? What can
we do? Okay, guys, I genuinely think we're gonna wrap it up now. I know like we're wrapping it
high two hours of like 400 people plus in the spaces. Absolute insanity. I love you all. I love you all. And I really want to end, as always, committed to kisses.
Because this is how we are dealing with, you know, the loneliness epidemic on Monad.
We end spaces in kissing. This is self-care. Also, shout out Benja for like co-hosting with me today.
A real one. And every single person I've spoken to person who has spoken today. I loved your takes. Please,
let's continue these Friday sessions. It's so fun to be able to just literally, like, discuss any
question out in the open in the community. I think that's just doing a lot for all of us to,
like, not harbor resentment and not have, like,. But just instead like have these open,
open debates.
I loved it.
Have a lovely,
lovely weekend,
everybody touch grass for me.
All right,
guys.
I really want Mike,
Mike,
please.
I want the Mike kiss.
I cannot end the spaces before I get a Mike kiss.
No, I'm not kissing anyone, but I might tease something.
Sorry.
Yeah, it's not anything major.
I don't know if teams will be angry at me,
but next Tuesday might be, might be,
I'm not saying it will be,
but it might be another NFT shark tank
with some of the top collections.
So stay tuned.
And yeah, see you around, guys.
Let's go.
You just had to do a little muah at the end.
It would have been perfect.
Maybe next time.
We will see.
Okay.
Can I say something?
Can we bring mike more often
i love your takes dude i was i was working on listening to to this and dude i love your takes
keep coming to spaces thank you man yes mike like now you are like you're locked in as the co-host
next week there's no there's no weaseling out of this yeah Yeah, I'm more of a defy guy.
I'm not an NFT guy.
Like, yeah, not much expertise from me, but we'll see.
We'll see no promises.
Oh, you're so humble.
We all know that you have expertise in literally every single vertical that has ever existed.
So, yeah, that's what we're going to be doing.
Thank you for teasing the Shark Tank.
