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NFTs are BAACK - Bottom Signals Everywhere on Coffee w/ Captain #1,132
Recorded: April 6, 2026 Duration: 2:23:52Space Recording
Full Transcription
I'm on web 3. And it is what it seems, copping the pyramid schemes, I'm telling you.
I sell you a percentage on Nebula.
Shout out to this, yo, set it up.
Surfing on the web and I'm shooting at 3.
I've been goaded when I got my T, I'm an alien.
Boy, from a different planet, yeah.
So I got my drink, I'm riding in the 1920s, Model T, Ford.
Car, era, law. Call me Levi, playing on the keys, boy.
And I'm about to put my gloves on.
If I said it, then I meant that.
Yeah, I like that one.
I'm about to get that.
Crash that whip for the drumsticks, whiplash.
I'm about to get them all.
Are you with that?
In a white boat, surrounded by blue.
I want one, but I got a cop too.
I want to fly high in the sky.
Arms out wide, trying to swim from a bird time feud. I'm on with it, I wanna fly high in the sky, arms out wide, tryna swore, you a bird type
view. I'm on fire, Ricky Bobby, cracking the pavement, Whitney Bobby, I'm a Saki Bomb,
Hiroshima, Nagasaki. Bruce Wayne been a dog, and I keep it 101, cause I'm feeling kinda
spotty. Sippin' on some rock and I'm sippin' out octane, the only thing around my neck
is the blocks. Started off with a kick-bop, now I got coins, I see what y'all doing. Bruce Wayne been a dog, I was just web one, hella hooked on web two, I was livin' a dream.
I'm on web three.
And it is with the scenes.
Topping the pyramid scheme.
I'm telling you.
I'll sell you a percentage on Nebula.
Shout out to Vince.
Yo, set it up.
NFT Twitter.
I'm in God's head.
I'll sell you a percentage on Nebula.
Credo, credo. We can make a trade, get the members.
If he was not falling for the FOMO, listen in the coffee with Kevin.
You know we were a lot of day loco.
I ain't never gonna stop rapping.
Orlando, yeah, we working magic.
We rocking Ethereum in a T.
I just went and got me a half bass.
Man, I gotta shut it off with a bitch.
Now I got coin. I see where y'all going. I just went and got me a hat face Man, I gotta shout out the boys Started off with a bitch, kickball
Now I got coins, I see where y'all going
Poppa says web one, hella ho
I was living the dream, now I'm on web three
And it is with the scenes
Copping the pyramid schemes
I'm telling ya, I'll sell you a percentage
on Nebula, shout out to Vince
Yo, set it up
Breaking them all the tools, wine
Bunny got knowledge to move, son I'm shakin' in shades with my brother in suits Yeah, them blows is coming Yo, set it up. wanted to have a face-off. Had to bring my chainsaw. Full ticket gas and I drive my brakes off. I'm 8-1, but a different kind of steak sauce.
GMGM, welcome to Coffee with Captain. Happy Monday, everyone. Hope you all had a great weekend,
and I'm excited to be here. A lot to get into today. Busy, busy weekend in terms of news.
Kicked off on Friday and continued on through the weekend. Feeling it, feeling my bones. I said spicy,
but in a good way. Might have a spicy show this morning. I think we'll potentially invoke
a good bit of feedback. Maybe I'm hoping at least one or two doubters or naysayers or someone who's
on the other side of the fence as me, because as well, the title on spaces doesn't say it yet, but we're also live on X video, YouTube and abstract video. Uh, and then X audio
spaces. Uh, this is coffee with captain. I'm cap, no cohost today, but I, like I said, I do expect
maybe a guest or two. Uh, we might actually have a special guest, a repeat guest, but it's not joined us
for a while. I'm going to keep that a secret until about 9.30, I think we'll get our guest
of the day joining us here today. But like I said, a lot to get into between now and then.
And I think some of you might have something to say about it as well. So just jumping right into
things before we get into all the Web3 crypto, Bitcoin, and NFT happenings, which like I said,
I'm going to change this title right now that NFTs are back.
Bottom signals everywhere.
We'll share a few on the show today.
And I might even go on a little bit of rant on the timeline.
I may just repost all the bottom signals that are out there because it is more than I can remember for quite a while.
and both on the good,
as you know,
database as well as the tourists,
the futters,
the grifters have,
you know,
are saying NFTs are dead.
It's over.
And tell me your bottom signal
without telling me your bottom signal.
Bottom signals.
I'm seeing if I can fit the title.
Bottom signals everywhere.
Before I get into all the excitement,
actually it is somewhat NFT related
because it's an NFT native brand.
That'd be it Rekt, started with Rekt Guy, NFTs.
They then gifted equity to their shareholders,
or excuse me, gifted equity to their NFT holders.
And we got Loki coming up as well.
He can feel it in his bones also. NFTs are back. Some might say a renaissance of NFTs is loading
here. But before we get into all the fun stuff, NFT related, one brand that started from NFTs and
then shipped a brand coin and building consumer loyalty. I was bullposting over the weekend,
wrecked energy. I didn't get
the blueberry. I only got the cherry cool one. I'm going to be ordering another blueberry today.
First of all, I love the brand. I'll support it. I order a lot of their drinks. This is though
much more up my alley as a caffeine addict, or I guess maybe put it a better way, a connoisseur
of caffeine and pre-workout ingredients here, no sugar, which is key for me. I will
full fade any sugar with my energy, but it's just loaded with good, healthy
caffeine. It's all natural caffeine. Amity is a, I believe a brand. Ono Sweet is, I guess, the sweetener. That was a new one for me.
Cognizant is the, I guess, the new Tropic. But I had it over the weekend for the first time.
And it just, I don't know how to describe it other than it just feels clean.
I don't know how to describe it other than it just feels clean.
You know, compare also this has 30 servings compared to the pre-workout I'm coming off of was, is a pretty reputable bum from Chris Bumstead's like a, I don't know, five or six time defending Mr. Olympia.
And now this does have some niacin in it, or I guess more niacin, I should say, to where you can feel the tingly
skin a little bit, which I don't mind. I know a lot of people turn off and it's not really,
probably not for the masses, but they've got their caffeine from green coffee extract. So all
natural, again, similar ingredients wise, maybe I'll take a picture of the ingredients list and
then we can compare on the timeline.
Beta alanine, I think, is the tingly stuff that this has 3.2 grams in it and the rect energy does not. So if you do niacin flush, yeah, niacin flush. And I think beta alanine too.
Am I thinking right, Joey, that beta alanine will lead to some of the tinglys? Again,
I don't mind it. I kind of like the tingly. I'm weird like that, but I know a lot of people do not enjoy it at all, and it will. It'll turn people off. We've got to say they're back at some
point, Dort. That doesn't mean it's not top signal yet because the top hasn't occurred,
but the bottom is in. So should I change the title just bottom signals versus calling it back?
So should I change the title just bottom signals versus calling it back? I would do that if the chat prefers. Anyways, back to this. These are both 30 servings. So not only is it a high quality and caffeine dosage is the same, but it is efficient. I don't know how they've got it so efficient to get the scoop is like half the size.
The scoop is like half the size.
Again, maybe that means nothing.
But to me, I was a big fan.
The other thing I was a big fan of is this little card they included in there to get your wrecked coin.
Very easy to do.
And it just says, claim your wrecked coins.
And I haven't checked this morning, but I want to say $20-ish, $19, $20 back on a $40 purchase. So I don't think you
can, I think you'd be hard pressed to find 30 servings of a high quality, clean pre-workout
or energy drink, whatever you want to use it for, for even close to 20 bucks. Usually you're
talking 30, $40. So a big fan so far, big fan of the team, what they continue to do.
And again, back to why, I mean,
NFTs are back in the sense that the next phase,
the next cycle has begun.
It's not going to, it's going to be very different than the first,
but the tech matters.
The tech was never going to go anywhere,
but now we're seeing it used a little
more. And quite frankly, and we don't need to get into a big open seed debate, but
blur farming's over. Open seed farming's over. And it's not a coincidence that you're seeing
floor prices up pretty much across the board. Volume is down, volume is down tremendously
from mania. But I think that's also not a bad thing. These collectibles weren't, I don't think
ever intended to be traded at extreme high velocity, rather collected.
And collectors are collecting.
Not only are floor prices up, good luck trying to find, in some of these collections, good luck trying to find an aesthetic one or a rare one or something that...
Bad Buns, if you're out there in the audience, yeah, we'd love to have you on the show.
I've talked about you a lot, actually.
And, you know, shame on me for never DMing the actual brand account.
But yeah, Bad Buns have talked about you numerous times here on the show.
And one that I've looked at, adding, need to add.
And I think this is kind of
where the point of the show today
is, hey, could it dip again?
Might this be a short-lived pump?
Yes, it could be.
At some point,
if things actually do run,
there's going to be a lot of people sidelined.
I said it on Friday that the ape rally will be the most hated rally and it's happening. Like it's already
starting to happen just a couple of days later. I'm not saying it was the coffee with captain
or the captain pump, but it is, um, why, why this cycle is going to be so different.
It was last cycle was so speculative.
It was so hype and mania and it was a bubble.
Well, bubbles often lead to long-term sustainable industries.
It's just you have to flush out the bubble first.
I mean, look no further than the dot-com bubble of the late
90s, early 2000s. Most of those companies, brands went to zero. And out of that, you've got Amazon,
Google, Facebook, basically the most valuable companies on the planet today were a result of
the dot-com bubble. I'm not saying that Yuga and Igloo and these NFT brands are going to be the most valuable companies on the planet
if you fast forward a decade. But the ones that have kept building, they've now really built an
infrastructure. They've now really built something to more than just speculation.
And they're all different. So it's going to be, it know, it depends on where, what you're interested in, what you want to, you know, what excites you.
But now there's some real stuff happening.
And in some cases, it's as simple as like a member directory.
Board API Club launched a new website.
Also, it's acquired a pretty sweet domain, B-A-Y-C.com.
Nice little four-letter domain that I don't think they've talked about.
I just happened to see it in going to the site, and you type in BAYC.com, and it redirets
you to Bored Apeyacht Club.
They introduced the new website, which has a nice member directory.
I sent a post with mine over the weekend, but it's easy to identify other members, brief
bio.
I mean, something that, this isn't a knock, it's not a knock, but we've talked about it
since 2021.
In fact, I remember a guy, CryptoJack, that had started his own community-based membership air table type thing
and it was a hit it's just really for it to stick i think it's one of those things you need
you need it to come from the top you need it from um yuga themselves to be officially you know
owning that and updating that. And yeah, there, the member directory.
Sorry, I was just looking for it.
Now that that launched,
it's a nice little perk.
It's a nice perk for a club.
You want to talk about what's one thing to make friends.
It's another thing to interact, communicate, converse,
hang out with make friends. It's another thing to interact, communicate, converse, hang out with said friends.
And as part of an online club, an in-real-life club,
knowing who's in the club and who you can interact with,
kind of a big deal.
So that went live.
And it's just a clean, stripped-down site.
The last site they had, I'm guessing they probably
paid a hell of a lot more money for it. It just wasn't, it wasn't, I don't know, it wasn't usable. I mean, it was
usable, but it didn't, it was more fluff than an actual website that you could use and would go back to.
I think with the member directory that they just launched, now there's one thing there that other people, not just the member directory, but the club directory, anything from Welcome Apes to Magic City Apes or Cigar City, like your local regional clubs, which takes a large club and brings it down into something much smaller in real life, I think it's a big deal.
Here's a glimpse if you missed it.
I said the most hated, this was on, was it Friday?
As soon as I saw it, the ape rally will be the most hated.
Also, is bayc.com new?
It is a nice premium domain. Coming soon, Wynwood, Miami. So the other, two things happened. One,
they launched a new website. This is a glimpse of the member directory. Again, you can update your
profile. You can link all the apes you own, anything you want in your bio, you can link your X, your Instagram, a website, even your OpenSea profile. And it's just a, an easy way to see who's in the club.
What I, I think this is, I'm kind of hopeful. I haven't talked to anyone. Actually, we are going
to have, probably shouldn't say this because it's not confirmed yet. We're going to have a,
I'm just going to say, I think, I think Figgy's going to join us on Wednesday,
not, not locked in yet. And I know it's super early in the morning for him,
but I think Figgy's going to join us on Wednesday,
and we'll go deeper here.
And I'll share my feedback with the team then in case they don't get it
from today's show.
But I'd love to see them add on this and even put more to it.
And I have thoughts, so I'm not going to go off on this tangent
because we can spend most of the show just talking about that.
I see we already have some guests on stage.
I want to get to all these hands.
And I have a lot of, I said, your bottom signals.
So apologies for offending anyone.
I'm not, I mean, maybe I am jinxing it and maybe calling, saying we're back is a top signal.
We got to be back at some point.
And it's not just what excites me and why I think
NFTs are back is it's not just floor price pumping on apes and pudgies and VFriends and
Izuki and quirkies. It's look at the success we're seeing from normies and pixel pups. And let's do this. Let's, cause I got a lot of,
I have a lot of, I mean, you also, another, another sign that we're back is we have a wild
Shiba King jumping on stage. I haven't seen Shiba King for a while. So yeah, let me, let's do this.
Let's get into, let's do a quick market update. And then I've got a lot of posts from the timeline that support my thesis that bottoms in, bottom signals on both from a data standpoint, from a bull posting standpoint, and from a bear standpoint in the sense that meme coin KOLs and tourists, those that came in, bought PFPs just to, I don't want to say extract from a community, but to extract from a community.
In some cases, not even financially, just goodwill, to build a following.
And then the market bottomed.
They sold.
And buckle up, here we go.
So let's run a quick daily market update.
That'll give us some more content to talk, to carry us into these conversations.
This daily market update is brought to you by Awaken Tax. Head to awaken.tax, use code COFFEE50, or return COFFEE50 to get $50
off your tax prep. Full disclosure, there was a data breach. The team is on it. They've addressed
it publicly. They're going to send out more kind of a postmortem with details that the breach has been
contained, you know, your, your funds are safe,
but I respect NUCCA for meeting it head on and the communication he said.
And I more on that, I, I, he'd send some stuff behind the scenes.
I just want to let them publish that first, but let's like,
but truly, even if you're not looking for a subscription,
you just want some help with
your 1099 da forum for that you got from any of the centralized exchanges out there whether
coinbase or kraken head to awaken for free support on that 1099 da and for the subscription
say 50 with coffee 50 or return coffee 50 this is our daily market update brought to you by Awaken Tax.
Awaken.tax code COFFEE50 or return COFFEE50 to save $50 off.
We're going to start with tokens and then we're going to roll into NFTs.
It's an exciting story on both sides of the house right now, coming off of a very interesting weekend.
I guess because I don't know as if we'll get into the other stuff due to, I think this is going to lead to some conversations here.
Quick flyovers on, if you missed it,
there's a really cool article from Satrini.
They sent an analyst to the straight
and with like 15 grand and a box of cigars
and a GoPro and wild, wild.
It'd be like if James Bond was a trader.
So go hit the, I'll put it up top if you missed it. But some pretty wild stories coming out of Cetrini. Pretty incredible rescue mission
from after a pilot getting downed and all that. Lost some equipment. But I think as most
Americans would agree that equipment can be replaced, Human lives cannot. And I think it's part of partial.
One of the things that makes some of these service men and women so brave is that they have confidence knowing that if they go down, if they ever get stuck behind enemy lines, someone will come get them.
Also, live streaming on Netflix today, the moon mission.
I think it's at 1 Eastern.
That goes live on Netflix. So a few like macro
slash world event stuff, like it's a busy weekend of news across the board. We'll fly over them
today. Some of those are somewhat evergreen. So we'll see what's on the docket tomorrow,
but want to keep things moving with the market update and then get into this NFT conversation.
Because like I said, not only a stage full of guests today, but
a lot of information on the timeline. Also, I see some people saying that
X feed isn't showing people on stage. And there's some, you know, to be finicky in front of us,
there was an X update. I updated my devices right before the show. So if you're having any issues,
whether it be audio quality, or you're not not seeing any speakers or you can't hear speakers,
maybe check to see if you have a X update.
You may have to go click X.
It'll just open it first.
Click if it's on the App Store.
Click through and then you should see the update there.
But yeah, if you have any issues at all, try getting the X update and then force closing Twitter, coming back and rejoining us.
I don't know why I still call it both X and Twitter in the same sentence, but I don't know if that'll...
I consciously think about calling it X and not Twitter, but I just, I think it'll always, somewhere in my brain is always going to refer to it as Twitter.
Here we go.
Market update.
Starting with the majors, Bitcoin up 3.87% on the day to 69,420.
It's actually 69,490, but, you know, memes.
ETH up 5.4% on the day, 2148.
XRP up 4%.
BNB up 2%.
Solana up 3.26%. Tron is the only one flat to down. It's only down 0.21%.
Doge up 3%, Hyperliquid up 4%. Man, I should have opened that long when I said I was going to,
instead of being concerned about the whale who unstaked $19 million of hype. I should have just
trusted my gut, but here I am. I'm not sidelined. I hold hype. I've
got some hype stake, but I would have loved to have a long printing right now. Cardano up 5.8%.
Bitcoin Cash up a percent. Chainlink up 6%. Just winners across the board. You got to go quite a,
Canton down 0.45%. I mean, Avalanche up 7%. Sui up 7%. BitTensor up another 9%. MemeCore up 9%, 17% on the week.
I'm looking for a loser and I'm not finding it. Some of these are like flat down half a percent.
BitGet token down 0.85%. You got to go to the 63rd highest market cap, a token called DEXE, DEXE, I guess.
No idea what it is, but it does, you know, it does, it's the 63rd ranked coin in terms of market cap and it's down 5% of the day.
So you got to go 63 down to find one down in the day.
Even Trump coin up 2.81% on the day. So exciting day in the world of crypto, which with all things happening in the
world, still a lot of uncertainty. It is interesting. And yeah, yeah. Chat, war room, you almost got me.
Look, heading over to continue the excitement, heading over to OpenSea to check out these NFTs.
I mentioned REC guys, which birthed that REC energy that I'm a big fan of. Pudgy Penguins
up 3% on the day. Apes up almost 10% on the day to 6.35. Now a full two ETH separating Apes and
Pudgies. This is not a PVP.
I'm just simply commentating on the floor differential there.
Both are up, which is the exciting part.
Oh, the hype wheel did sell over the weekend,
but we have another big unlock in four days.
Sorry, I had to get that in there.
Thanks, Mayhem.
Appreciate the update.
Mutants up 12% of the day, teetering on one ETH.
The other thing we'll talk about here in a bit too is not only are floors way up, but it's super thin.
I think there's like, well, it's probably changed now because there's been so many, so many, the floor is lava, as the kids used to say.
As of six o'clock this morning, there was only 21 apes until a 70th floor. So floor is
super thin. And I saw some people actually looking to collect NFTs they wanted to collect.
And you got to get to double digits. You're talking like 11, 12, 13 ETH for a, no offense
to any of the floor ones, but for a quality, aesthetically pleasing ape,
you got to get up to about,
it's almost double the current floor price.
There was about, I don't know,
30 to 50 of the, specific to this collection
that were traded around on the floor
that were farmed for Blur and then OpenSea.
And I think what we're seeing now is,
A, there's no incentivized bidding.
There's no incentivized trading. People are collecting what they want to collect. And don't forget about're seeing now is, A, there's no incentivized bidding. There's no incentivized trading.
People are collecting what they want to collect.
And don't forget about things like TokenWorks.
I think it's maybe closing in on a couple dozen apes, like, I don't know, somewhere between 15 to 25 apes, I think.
So theoretically, it could be eating or taking off the market, these that are, which previously were dumped into, were recycled into bids. It's going the
other direction now where they're acquiring them in the listing for 20% above the floor.
So a little different impact there. Moonbird's up 3.2% to 0.83. Little Pudgy's up 1.3% to
0.47. Normies, I saw Serpin out there, Serkin out there earlier. Serpin, Serk?
Serpin out there earlier.
Serpin?
Having a brain fart.
The founder of Normies.
I saw him earlier when I was saying
NFTs are back. We'll share
a post on that here in a little bit too. 0.18.
This was a minute not long ago.
Azuki. 0.8. I think it might be the
highest floor I've seen on Azuki for a while.
Up 4.9. Doodles flat on the
date of 0.48, but I saw a
I think it was one Gator, one of the
Gator head, Gator costume doodles was bought for like 2.5 and immediately relisted for seven or
eight. Again, flippers aren't flipping floors. You're now seeing collectors collect and relisting
quote unquote grails within these collections for significant premiums above floor. These are all signs, indicators that momentum is heading back the right direction for the first time in a while, right? It's like
there's, we talk about bottom signals and momentum signals, signals that things could
go the positive direction. It's thin floors, collectors collecting, inside bidding being over, and Grail's getting acquired.
I also saw a Good Vibes Club Grail, a gold one sold for, I want to say, 80-ish.
INX, this is the Quirky's collection.
CloneX up 2%, Milady's up 4% to 1.23.
Hypers, flat at $399.
Quirky's, 1.16, down half a percent.
Gimbos, one of the newest collections,
they're up to now to 1,800 Ape this minute at 368, I believe.
So already a quick 5X from something that minted last week.
I mentioned Pixel Pups.
I'm not sure they're popping on.
Yeah, there they are.
Up another 32% to 0.13.
This was a free mint we handed to all of you.
The allow list was not all NFTs,
but if you had collected,
if you held any credible, notable NFTs,
you probably could have minted a free Pixel Pop.
It's up now 0.13.
There's been a lot of mints
that have done these similar run-ups.
It's just,
you gotta be paying attention.
I think so many people,
myself included,
we're just not feeling like,
I'm,
I'm looking to buy NFTs right now because who knows when the bottom's in,
but for new stuff that's free or close to free,
there's been some prints and we've,
we've hit on while I didn't get in all of them.
We did,
whether it was from pixel pups to Normies to death and taxes.
We've talked about them all here on the show.
And all these are way up.
And it's been a while since we could talk about new men's beat.
So as excited as I am for apes being up 10% of the day and mutants being up 12%,
I'm equally excited to see things like Pixel Pups up to 0.13 and Normies up to 0.19.
The one lagging I still think has
some upside is Codas. It's not going to get the pop for something like an in real life clubhouse
as Apes and Mutants are, but 0.54 Codas up 3% of the day. Moonbird Mythics even up 21% of the day.
VFriends flat, but still 1.4. They've been climbing as Gary just continues to grind.
They've been climbing as Gary just continues to grind.
Oddity is up 16% on the day.
And you can see here just a lot of winners across the board from many different tiers.
Good Vibes Club, 0.65.
Their flat creeps up 10% on the day to 0.19.
And yes, be epic.
NFTs are pumping.
Death and taxes, I just mentioned earlier, up 21% of the day.
Could it be a short-lived pump? Maybe, possibly, but this feels different than prior short pumps,
partially because what is a... Other than macro, forget about macro for a second, take away the global uncertainty and just specific to NFTs, what's a current headwind?
But I think we most can agree now that incentivized bidding, incentivized trading of NFTs is a net negative to not only NFT floor price, it's a net negative for collectors.
Like people who really want to collect, they're often just going to stay on the sidelines and wait and watch until the incentivized bidding is over or incentivized buying and trading and selling because we've,
we've, we just, we have so much data on this. We know how it plays out. It's, it's, it's going to
drive floor prices down. And so if you, oh, I want in this community, I want in this club,
I want to collect this asset. Why would you do it when it appeared like, could you get short pumps
during the incentivized bidding, the incentivized buying? It's unsure.
You could get short pumps.
But often, the short pumps came because some whale was going to sweep and you knew the whale was going to just dump right into bids and wreck the floor at some point.
Now, those headwinds are gone.
And not all are going to pump.
A lot of these are still going to trend to zero.
of these are still going to trend to zero. Some might have short-lived pumps for now because
as you're seeing collections that are building stuff, ship and deliver and those flirt pump,
there's going to be traders who are going to look for beta plays. You're going to have traders
are going to look at what might pump next and those could also pump. And then when the
team comes out and just doesn't do anything, there's no updates, they haven't shipped anything
new and there's nothing new planned, the thing is going to retract and be right back to where it was.
With all this being said, it goes on saying, I'm not a financial advisor. I'm certainly not
your financial advisor. Don't join us for financial information or just join us for some fun,
Just transfer some fun, some information.
some information. Maybe you'll have, maybe you get a little bit of alpha along the way,
Maybe you'll have, maybe you get a little bit of alpha along the way,
but only play with money that you can afford to lose.
Buy things that if it does go to zero, you're cool with it.
I think some of these have a real floor.
Just as I said, something like rides.com is never going to go to zero,
the fractionalized token over at DOMA.xyz, partially because
Vrites.com is a premium domain. There's always going to be a buyer for that. It's a seven,
maybe eight figure domain. And so therefore, it's just not going to go to zero. It's a real
world asset, just like your, I mean, I guess you could say a Michael Jordan rookie card could go to zero, maybe, but it's got a floor.
There's always going to be some buyer that's going to step in, just like those that have some sort of real utility, some sort of real value behind it.
In this case, I'll reference back to the clubhouse.
That's real value.
There's a lot of people live in Miami, and yet it's a global club.
But at the end of the day, the clubhouse hits.
It's not going to be zero.
Look at the other quote-unquote clubs in Miami.
After this thought, we'll go around to hands here
I appreciate everyone joining us
excited to get into it all
but if you look at just Miami based
clubs
some of these are I mean there are
extreme ones like if you want to join
I'm trying to find the most of the high
if you want to join Indian Creek Country Club
you're going to have to drop about $20 million on the low end on a home.
Like it's, there are extreme, extreme high net worth clubs,
but removing, remove that one from the equation.
Actually got a slick little on the fly.
Thank you, Claude.
Claude Cowork just took my thoughts and put them into a fancy little one pager here that I can, I'll share with all of you.
This is Miami's most exclusive membership clubs.
Hopefully that view is coming through okay.
I should have a better way.
I could probably do the Google slide.
Might show it better.
Here, currently, you can pick up an Ape for $1,500.
I think it's actually a little higher than that now with the run-up. Yeah, ETH is $2,000. So
those ape prices, the membership price is a little dated. Floors can move quickly on you.
So let's say it's $2,100 to pick up a mutant. Apes, I don't know, 10, 12K. Other clubs, other social clubs in Miami,
Indian Creek, like I said, forget that one,
unless you're Tom Brady or Bezos or a billionaire,
you're probably not looking at $20 million properties
to join a club.
That's about as exclusive it gets.
There's maybe 200, 250 people.
Fisher Island Club, 250K up front, 22 grand a year.
ZZ Club Miami, 50K up front, 10K a year. The Surf Club Miami, 50K up front, 10K a year. The Surf Club, 50K plus
up front, 15K a year. The Bath Club, 20K up front, 18K a year. Faina Rose, 10K up front,
eight grand a year. Club at the Moor, five grand up front, 5K a year. Soho House is probably the
most accessible other than the Yacht Club, the Miami Yacht Club that is, not the clubhouse.
Soho is $4,200 a year.
So Soho Beach House, $4,200 a year.
And for half of that price, you can get access to the clubhouse.
And now I should disclaimer, I do believe that the clubhouse will be open
to the public.
There's just going to be VIP experiences.
There'll be portions of the club that are gated and restricted to holders only.
And you can get access to that for 2K.
One time for lifetime, you know, one time lifetime initiation.
So while these numbers, oh, the Soho House is different than the Clubhouse.
Maybe. I could also build a case that you get more in terms of a global club and more access
from the Board API Club than you would Soho House. These other clubs, these aren't, I mean,
other than Indian Creek, these aren't country clubs. These aren't golf. These are social clubs. These are access to networking and hanging out and other utility, other events,
other in real life activations that almost all of them cost more upfront than does a mutant ape
today. And you're having to pay more annually to keep that membership than a mutant ape today. And you're having to pay more annually to keep that membership
than a mutant cost today. There's only 30,000 of these or 29,998 because a couple have been burned.
May sound like a lot. It's not. And I think part of we talk about, this is just one element, by the way, we talk about
collectibles and unlike diamonds, which are hitting all time lows now, because you can
create them in a lab that are identical and they're a fraction of the cost. And also it was a
DeBoer's marketing trick to get everyone fooled into diamonds were rare.
Similar with like baseball cards and original cardboard that got massively
overproduced. While other NFTs could be created,
there's no more apes or mutants getting created. Like it's,
it is a fixed finite supply.
And I think that's something that will come back over time.
It could take decades for demand to really hit some sort of escape velocity,
but you're starting to see it.
There's just not a lot of sellers.
80% of these assets for a lot of these quote unquote blue chip collections simply have
not traded hands.
They're not for sale.
My PFP, I said from not day one, but I said, as soon as they crossed $10,000 floor the
very first time, I said, okay, I might trade in and out of others, but this PFP, it's going to be
at least a 10-year journey for me. I'm going to bet on time in the market, not trying to time the
market. And so I'm like halfway there. Now,
the reality is I probably never sell this thing. And it's a, it's a truly a lifelong membership for
me, but the commitment I made to myself and something I'll just stick to is it's, it's going
to be at least a 10 year journey. And, and we're like halfway through that. Let's do this. Let's
take, I'll take a, I'll take a breather here. A lot of other really interesting stuff on the timeline, both data, some subjective and objective data on the timeline on both ends, the bulls, the bears, and people in between.
But before we get to hands, or before we get into that, let's get to hands here. I think Shiba King's hand was up first, and then Joey. We'll go Shiba King, Joey, and then anyone else.
and then Joey, we'll go Shiba King Joey, and then anyone else. I think my ex is working correctly,
but there was an ex update. So if you're on stage and I'm not seeing your hand,
give me a wave or tag me in the comments. We will get to everyone here. But I see we got
Jesus Loki, as well as the Ant Academy and Agent Nahum. I think we've connected a while back,
but I think first time speaker here on the show. So we'll get to you all, as well as anyone else that's enjoying the conversation.
As always, it is a community-driven show, and looking forward to the conversation.
Hopefully not everyone agrees with me.
I see some people in the war room certainly don't agree with me, and that's cool.
I would like to have some back and forth today, but I think there's a lot of – just so you know, I've got a lot of supporting documentation prepared to support my thesis
that I think the bottom is in.
Shiba King, GM, what brought you up today?
Hello, GM.
It's been a minute.
That's all.
So I'm here, and I'm proud of you for keeping the discussion going by yourself.
I'm like, man, this guy doesn't even need breaths.
I used to take breaths sometimes, but you're gotten so good.
But I just wanted to say, I think we might be headed in some direction.
I hate when Bored Apes bounce 12% and we're like,
ah, it's it, it's it, the bottom's in.
I would love to see Bored Apes bounce again to 80th
and mutants go to one and a half
and we start seeing all the other NFTs kind of go with it.
And it's kind of what we're seeing now at that base level.
But I think crypto in general has been absolutely terrible for the last 12 months.
So I think we are about to have a nice little turnaround here.
Hopefully we can get the Hermousse open for the oil first and then stock market rebounds.
And then I think crypto will follow.
With more people more comfortable buying NFTs, I think ETH being so low, this is not financial advice.
If you're not buying the NFT for the community or NFTs, buy it for ETH. ETH is really low. You can buy an
Ape or any Penguin asset, a Doodle, a Corky, or a Moonbird, and then flip it maybe for 4,000 ETH
in a few months, like three months, which is very, very possible the way the market's probably going
to go. But I'm a little optimistic. It's good to see Bored Apes cooking. Hopefully we get some more graphics
on what they're actually putting together down in
Miami, and I think a little bit of hype
is what the NFT space needs right now.
So, yeah.
Agreed, but
hype with substance, I would
say. Hype with...
Yeah, we need a little substance. But any hype is
good. Right now, I'll take any hype.
As long as it's not bullshit hype. I like a little substance. But any hype is good. Right now, I'll take any hype. As long as it's not bullshit hype.
I like hype.
I like a little hype.
I just appreciate the updates, the communication.
I'm not saying they did this because I got on a soapbox a week or two ago
and was giving them a hard time over not really having any tangible updates
other than the other side since ApeFest.
And they did. I had conversations with leadership
in the DM. So I, you know, that, that is, um, it wasn't just me ranting on the show.
You can see it. You can see the excitement amongst the community. People are excited
for the clubhouse. There was people. And if you asked me, like, is it, is the clubhouse still
going to happen a month ago? I would have said, yeah, I'm 95% sure it's going to happen.
But there was also people I love, respect, some people, long-term loyal members of the club.
They were, I think, probably 50-50 and feeling like maybe they're just going to rug the clubhouse.
Maybe some of these smaller community events, some of the leadership from Barron to Figgy to Cam have been doing you know not necessarily tours but they've been doing a lot
of supporting a lot of local meetups and events by the way for those in the gulf coast area my
guy april i don't know if april is out there this morning or not but april is hosting a paintball
uh get together uh for members here later i want to say the 19th it's in two saturdays
april 19th i'm gonna do my best to attempt to make it up there. But yeah,
if you're go, go hit up, I'll see if I can grab a post of his here in a second.
But if you're in the area, I would love to see you there.
But between from, from dinners to Korean barbecue,
which I think Baron von Hustle is doing one in Southern California here this
week to golfing and, and everything between there's just,
they're fanning the flames and some took that as like, Oh,
Oh, is this a sign that they're, they're not going to do the clubhouse.
The clubhouse is coming. I think it's at this point, it would be,
it would be, I mean, I don't, I don't, I mean, they wouldn't be.
Not do the club, not, not do the clubhouse. They're going to do the clubhouse.
They're going to do something. They have to, if they don't,
I'll be on the timeline. So yeah, they'll do it. Agreed.
When is the question? I think
take, my pure,
I don't know any information on any inside info.
We'll see if we can pry it out of figgy
on Wednesday. But my take is
I think
we get Ape Fest
2026
in Miami.
And if not a
grand opening at the clubhouse,
I think we have at least one of the side events
at Ape Fest is like a tour
or like maybe it's a,
I don't know.
I think we get a glimpse.
We get a behind the scenes.
I think there is some tie in.
And actually, if you really press me on it,
I think they open the clubhouse later this year.
I'm going to guess it's November, December,
right around Art Basel.
They pull the open sign on the clubhouse.
We do ApeFest 2026 in Miami.
The clubhouse itself,
I don't think will be big enough for all of ApeFest.
But I think they do a venue,
one of the events.
They kind of bring people through the clubhouse all weekend do some open house and get missed the
marketing opportunity here cap there's a massive market opportunity to open the
clubhouse with us there right majority of us down in Miami so it would create
quite a stir especially coming in out of Abe Fest it'll give people an
attraction so it would be a really good combination I could see that too yep I again, I don't know anything, but I think that is where I'm putting my chips
right now is I think we get to Clubhouse later this year in adjacent to or right around or same
time as AbeFest 26. So BAYC.com, new website, member directory, all that stuff did go live.
So BAYC.com, new website, member directory, all that stuff did go live.
In addition to that, clubhouse.bayc.com is live.
Luxury first, lore in the details, our shared headquarters in Miami,
the next era of Board Ape Yacht Club.
There's a quick 40-second video on the clubhouse.
There's some of these renderings that they shared at ApeFest.
You can get the idea.
I hope this exists.
I hope there is like an outside, a rooftop bar patio.
I'm envisioning something like this might be the members only club,
might be the members only section where there's like poker tables, pool tables.
I can see that.
Again, I don't know. I'm just speculating, but I think there will absolutely be some member gated areas of the clubhouse. And the, I know these are just renderings,
but I, I, I, I like the style they're going for. I think it hits, certainly resonates with me.
And I am also really excited that they are going to make it public.
I think that is the best way
to make sure this thing sticks around
and isn't just a one to two year experiment.
They have to close down
because they're not profitable.
The reality is even with member gated areas,
it could be the coolest club in the world
because these NFTs are a lifetime membership.
They have to, and yeah, you might buy drinks and food,
but this is, as it appears,
going to be a expensive club, expensive build out,
and it's not going to be free to operate.
So for the club, the long-term sustainability of the club
and potentially scaling this thing regionally,
it's got to be profitable. I don't want to say the only way to profitability,
but I think it's extremely more likely that they get to profitability
if it's open to the public with these gated areas as opposed to just gating the whole thing down.
And you want buzz. You want people there. And what's the
best way to onboard new members is going to be them coming to experience this.
And yeah, they could have come as plus ones,
but Miami is an incredible market. It's becoming,
some would say the Silicon Valley of the East coast.
You're seeing a lot of people from California and New York,
both moved to Miami, not just individuals, but companies, tech companies.
And I excited bullish on them choosing Miami as headquarters. As much as they
would love, they would have done Tampa. The reality is Miami is much more in terms of like a top
market to do something like this. I think it makes a lot of sense. Let's go to Joey and then we'll
get agent name in here next. Joey GM thoughts. Jim guys. So I think they had to choose my app right it was the only option um them going
somewhere else just wouldn't have made sense um but at the same time they chose probably one of
the most competitive markets outside of new york city when it comes to any type of like i mean i
guess las vegas you could say too, right? But like,
I don't think people understand how competitive Miami is from a hospitality nightclub,
private club, like having worked in that industry for a really long time, I can't even begin to
tell you how many I've seen,
how many restaurants that tried to become, you know, lounges and even nightclubs have come and
gone over the years and just could not survive. It, Miami is so incredibly competitive. And the
biggest thing when it comes to Miami too, is the loyalty of the patrons like you know having worked at
live and mansion and story and space and 11 and all these places like people just they go
they're committed right like they'll go to live every single night that's like where they go
they're very they're very loyal i now winwood and we don't and we don't know exactly, right? Did they say it was going to be in Wynwood? Yeah, the site I showed there, it, actually, the site I showed does not say Wynwood, but
an earlier post, I believe it's on boardapaclub.com, I think the lighter or the matchbook there
said Wynwood.
It also, here's something else, it shows, let me find it and I'll pull it up.
It not only does it say, yeah, it says coming soon, Wynwood.
It also, if you zoom in, one of the Easter eggs,
this is also doubling down my take that it's coming in this year,
whether it's late in the year, as I suspect, or it could be next month.
If you zoom in on, that's as far as I can get in,
the matchbook here, it says 2026.
Board API club at 2026.
It's what's Roman numerals, but MMXXVI is 2026.
It says Miami on the matchbook, but it actually says coming soon, Wynwood, Miami.
So yeah, I think it's Wynwood.
Wynwood is a, yeah, Wynwood's a completely different
type of market, right? So like, if you've been down here before, you know, Wynwood is the art
is like, kind of like the, the, the art hipster district, right? Like a lot of like,
you get, that's where Art Walk is every single month. Um, down in Miami, uh, you get a lot of the, you know, the, the, the live music is in Wynwood.
So I don't know.
It's, it's tough.
I mean, they're fighting an uphill battle again in a city where to your point, there
are so many options for people that exist already that are free or paid memberships.
I would like them to be successful.
I think it would do incredibly well for our space.
It really is such a tough market down in Miami.
And what they're going to need to do is find, if it's going to be open to the public, they've got to find something like some kind of niche or something that's going to attract people beyond what just being like a cool place to come hang out.
Because there are endless amounts of cool places to go hang out in Wynwood, in Miami.
And I don't know what, I don't know if their plan is going to be live music. I don't know if their plan is going to be, you know, workspace. I don't know if they're
going to have a restaurant or what, but it's, it's just a really tough market for them. And I hope
they're successful, but yeah, I wish there was more information. So we knew like what the plan
was for the public, like what, what are they going to offer? I don't know.
I don't know as if it'll be full-blown concerts
because the venue's just not going to be
that large to support it.
I do think there'll be live music at times.
To your point, yes, Miami is very competitive,
to which I go back.
I live on the other coast.
I think it's much, like, it's more competitive because there's also a lot more people.
There's a lot more nightlife.
I'd rather them go to a market like Miami that not only has a lot of nightlife, it's also a tech hub.
Some would say it's the best tech hub in the country.
At worst, it's on a short list between New York, Silicon Valley, maybe LA, but I think New York, Silicon Valley, Austin, and Miami.
You know, in the US, as far as tech hubs, up and coming tech hubs, it's there.
And I think this is what's unique.
What I would say is unique is it's not just a nightclub.
And I think that's where you're talking like live and story and all respect to Grutman,
who's built a very, to your point, a very loyal fan base.
I think this can pull off both, but be more than just a nightclub.
It's.
You know, I've been.
But what is it?
But like, is it, is it going to open at 9.
And is it going to be like a shared workspace?
Is there going to be a restaurant that serves lunch and dinner and
brunch on the weekend? Is it going to be like, you know, is it going to be like, um, like that,
I guess that's my part. And again, they haven't told us, so we'll see, but that's the part that's
difficult for me. Right. In my brain, I think it's without knowing the details, I think it's
more like the social clubs I referenced earlier than a nightclub.
Will there be evening activities?
Sure.
But I think more than that, you'll have people that meet there for lunch.
And whether they set up shop all day and do their work there,
I don't know if that'll be the case or not. But I've been beating this drum for years on the show about experiential retail
in the third home.
Something that Starbucks built their
brand on early on is giving people a place to come and hang out and converse and meet
and get work done that wasn't school, it wasn't the office place, and it wasn't home.
And I could see that becoming this with the evening activities. And on the area I live,
I've shared like St. Pete, there's over 50 non-alcoholic bars just in St. Pete alone.
And they do what you just said.
A lot of them open at 7 a.m. and they go until 2, 3 in the morning.
There's some that are 24 hours.
And they are popping the entire time.
Now, I don't expect the clubhouse to be non-alcoholic.
But my point being is these 24-hour clubs, there's proof of concept.
They're extremely successful and they're busy
all the time. Now it's different types of crowds and you see a different group of people at
9am than you see at 9pm. But the space is there, the community. And I think more and more people
are going to seek out in real life human connection as AI continues to proliferate our lives,
become more and more digitally connected. There's just no substitute. There's no robots going to replace that human
interaction and a place to hang out, to meet friends, to meet new people. I think you'll see,
like if I lived in Miami, I could see myself going there at least once a week, if not multiple times
a week. If I was close, I'd probably, if I was walking distance,
I'd probably go and grab a drink every day.
Where I'm at now, I can see myself making like a monthly trip down to Miami
for some sort of event or some sort of activation.
And that's what I'm hopeful they do,
is don't just have the standard, or here's our operating hours,
rather, and not just, oh, every Saturday we have a live band or live music, but rather once a month they do some sort of activation, like a poker tournament, for example.
That gives me a reason to drive down to Miami, stay in Miami for the night, or maybe I just make a day trip.
And I know that some people are like, oh, I live in Europe.
How does that help me?
Well, it may not right away. And you're not going to get the same level of
usage or value out of that membership as you would for someone who lives in Miami.
But the Florida contingent is strong. There's a lot of long-term OG members in the state of Florida beyond just Miami.
And I expect many of them will be regular visitors and not just visitors. They'll spend
time there. They'll bring friends there. I was looking for the Miami MSA population. I know
Miami proper is a little less than a million, 500,000 maybe.
But the MSA, so from Fort Lauderdale down to Miami, is six and a half million people.
And this sort of stuff is already very, to your point, competitive.
There's a lot of other clubs, social clubs, if you will.
None of them you can get in for $2,100 or whatever the price of a mutant is today.
And it's still going to be enjoyable. It's still going to be fun. But I have enough,
having known these people, I've got enough confidence in the quality of networking that
can take place that it's going to take a while. And I don't know what sort of marketing or advertising.
It might be none.
It may be only word of mouth.
It may take a while for the residents of Miami MSA to realize this is another option for
a social club, a networking club.
But I think there's a part of the benefit, part of the big differentiating factor that they have, that the clubhouse will have, that someone else opens a new social hub doesn't have is the network effects that comes from crypto.
It's the same reason I was becoming an unpaid brand ambassador for wrecked energy over the weekend. Because I feel, I guess in this case, I am vested, but it's like my shares are, it's 100 shares out of, I don't know, a million that are available.
So my equity stake is a sliver of a sliver of a sliver.
It's nothing I'm ever expecting to make any financial gain from.
But I feel vested.
I've been wrong for the journey. I held a rec guy NFT from the jump in my rec coin, and I buy my rec drinks.
It's the same reason that I become an unpaid brain ambassador for rec energy.
The same reason that when Pudgy launches a toy in Walmart, that they sell out quickly because they have supporters.
They have vested supporters.
I know when I say vested, I know we don't own equity and Igloo or Yuga, but we are stakeholders and stakeholders
that even though we might critique, the reality is we're all net promoters. Some people, if you
give an NPS survey to a hoarder base, you might get a lot of detractors or some passives. But at the end of the day,
we're all promoters. Most are promoters that are actively talking about the brand.
They'll come check it out. They'll bring friends. It still has to be a cool experience. It's just
like we talk about on-chain gaming. The game has to be fun. People have to want to enjoy playing
the game outside of any incentives. Same thing here. It's got to be a cool environment. From
what I've seen so far, it looks like a cool environment. I mean, I know it's renderings, but it's a place I would hang
out. And knowing the people I can hang out with there, sign me up. I will absolutely be taking
more trips to Miami when this thing opens. I see we've got several other legends on stage.
We're going to go Agent, who joined us, had his hand up here first. And then I think,
apologies if I'm getting the order out of order,
but we'll go NFT Drew.
Long time no see from TIFAR.
Great to see you.
Another speaking of OGs in the market.
And then we'll get Malik in here as well.
We're loaded with legends
from the Florida Ape contingency.
But Agent GM, great to connect.
We brought you up this morning.
Yo, bro.
Yeah, we spoke, I think it was around
the undisclosed shilling, I think, great to connect. We brought you up this morning. Yo, bro. Yeah, we spoke, I think it was around the undisclosed shilling,
I think, of an influencer.
I remember a while back we spoke on that front and connected.
Awesome.
Yeah, interesting space.
I mean, I'm the sort of viewpoint that NFTs won't be back as they were
from the 2021-2022 era.
It's like, you know, when we saw DeFi Summer,
DeFi Summer has never returned, it's just evolved. And I think that's the way, like,
everything you've described from Bored Ape's perspective is shifting towards, like,
NFT is a layer of what they're actually providing. You know, they tried the Metaverse and Gaming
Group, and then there's this membership component that, you know, kind of existed in the 21-22 era.
this membership component that you know kind of existed in the 21 22 era um but overall like i
think from an rwa perspective gaming we get to see some actual tangible stuff but um like if you look
at the actual data of the active traders and participants in nfts a lot of them have left and
you can say they're tourists or you can say you you know, this is like a meme coin chart in terms of activity.
But that's very much the same across the entire crypto space at the moment.
But for me, NFTs, for them to actually come back, they need to have some.
And I think it's very much the same for the entire crypto space.
There needs to be some tangible, sustainable business model that goes beyond the revenue generated from dumping the token or just
simply from royalties from an NFT perspective alone. And yeah, I think, you know, what Bored
Apes are doing from a membership perspective does make sense. It's something that is a model that's,
you know, applicable in the real world. And, you know, like when you look at the number of NFTs
that have been created, I think the long tail is is essentially dead i think it's going to sort of consolidate with these sort of blue chip projects
and there will be some new emerging um assets and stuff but uh you know i think it's it's going to
be going back to or more important that people research for new sort of opportunities and new
assets that's like one of the reasons that myself and a friend
and a few of us in the community have established
like the rabbit hole for that very purpose,
you know, collectively.
And I know the groups do this where, you know,
you look into these projects and critically think,
you know, a lot of that's been lost with AI,
but critically think and ascertain, you know,
is this something with legs essentially?
Because it's harder to do now within the fungible and non-fungible space for new assets anyway yeah nope um i i think
that building something tangible building something that you know escapes escapes the
crypto natives and i saw i think it was um i think it was Bo was going back and forth, Bo from Pudgy going back and forth over the weekend, talking about how they've,
I'll just pull up the post. I don't want to, I don't want to misspeak, but talking about how
they've really focused on growing outside of crypto and web three. So they don't have to just,
every time they have a drop, they're not just selling to their existing holder base, not just selling to their existing collectors. And I think that's
important. I think that matters. And similar with this clubhouse, it's not just going to be holders,
but yet the holders can help drive. It's like, It's like launching a, it's like launching a, opening a club, opening a restaurant and having 30,000 people already, you know, promoting your business.
You know, Google reviews are very important for a lot of retail businesses.
Here they've got, they've got those baked in.
Malik, I think we lost you on stage.
If you're having an issue, I see that we have some other hands up there. I'm having some trouble connecting.
If you have any issues with the X audio spaces, there was a brand new X update this morning.
Head to the App Store, grab the most recent, make sure you update your X
and then maybe close this space, come back, do a full lap
and we should be able to get you up. But yeah, I'm not booting you if you get bounced from the
stage. It's just some X challenges this morning. That said, I think I was said, Drew next. We'll go
Drew, TIFAR. And then it looks like we did get Malik back up here. Drew, GM, what brought you
up this morning? GM, GM, the stage is like the 2021 vibes. I said we're back. We're back.
Just see the stage. It is, it's crazy. But I was, I was going to say, I mean, I think something
that's interesting, you know, when you were listing off how much it costs every year for the, you know, the other, let's call them social clubs down in Miami that are the bigger ones. Like the difference with this is that if they use only the assets, you know, BYC, MAYC as the actual like VIP membership, then we're going to see a scale, like a sliding scale of memberships where, I mean,
people in Miami and people, you know, down that way, they got money, dude. And I think one thing
that, you know, people that got money is they don't like being told no. And so if it's a matter
of like, oh, hey, I buy this asset one time and I have quote unquote indefinite membership and I
don't have this ridiculous 20 to 50 grand yearly fee, like there's
going to be some people that got money where they're going to buy this and then forget about
it. And so when you talk about supply and demand, I mean, I just think, I think the sliding scale of
a membership is something that, I mean, at least for me, I've never heard of that. And I think if
they go down that route, that'll be, that'll be pretty damn interesting to, uh, to see.
be that'll be pretty damn interesting to uh to see great point and i think to just expand on that
the other and this was i think joey and or door just mentioned this in the in the war room this
is a really big deal when you talk about these memberships these other clubs yeah that go from
anywhere from first one-time initiations from five5,000 up to $250,000 and anywhere from $2,500 a year up to $22,000 a year.
Again, excluding Indian Creek, which you got to be a billionaire to even think about that one.
It's a sunk cost.
Let's say you join Soho House, which is probably the most affordable at $4,200 a year, and you don't like it.
Well, you don't have to go, but you're out your $4,200.
None of these, I don't believe, can you resell your membership.
It's one way.
Whereas what NFTs unlock as an access pass, in this case, is lifetime utility.
It's a lifetime membership, meaning someone in Miami, they pick up a mutant to get access
to the private areas of the club.
They don't like it.
Maybe the floor price is down.
Maybe they buy one today for $2,200 and next week it's $1,800.
They lose $400.
You can't do that anywhere else.
Anywhere else, you're losing $4,200.
You're out whatever you'd pay to join the club.
You're not getting any of that back. You're not recovering into that. Forget about, oh, floor price could go up. You could join
the club. You could buy in today for $2,200. And then you go and you get a year use of the club.
And then the floor price a year from now, because the club's successful, goes from $2,200 to
$4,500. And you actually get a year of access and utility and then sell it in two extra
money. Forget that. Even if it goes down, it's still a very unique selling proposition that
back to differentiators, what makes this club different than all the other clubs in Miami?
That's a pretty big one. That's a pretty big one. Let's go TIFAR and then we'll get Malik in here.
TIFAR GM, thoughts on the clubhouse or anything else you want to talk about this morning,
but I'm, I'm guessing that, uh, invoked you to come up this morning.
GM GM cap.
Yeah.
I'm hoping to provide a little insight here.
I actually am GM of a private club in St.
Pete that has a wait list of membership.
That's also open to the public right now within our first year.
So similar, I hope, type concept that
BAYC is going for. But what I think matters- You don't have to name it if you don't want to
dox yourself completely. But do you mind sharing the, like, what's the initiation? What's the
annual fee? Do you mind sharing just from a cost standpoint? Yeah. So we went super cheap right
now in the first year. It's only $250 for an individual. It ranges for couples and families as well.
But that gave us a wait list of 500 plus.
We're an athletic club more than anything.
But a lot of people just joined for the social aspect.
You mentioned something like events monthly.
But we're on events nightly type thing.
It needs to be something that brings people into the club every night, whether it's just trivia.
We do Mahjong nights.
We have singles nights.
Like it's something that, you know, gets the same type of people in there every night, you know.
I think what matters most for Board API Club is the management company they bring in or how they start their own.
You know, if they announce they're going with Grutman
and partner up with him,
the floor price is going to skyrocket.
It really depends on how they manage the club,
who they put in leadership positions,
and training, hiring, that's huge in the first year.
And whether it's going to turn people off or on,
hospitality is, you got to lead with hospitality first.
And the management team and the company they bring in, I think matters most in that aspect.
Yep. A hundred percent agreed. It does need to be not just a cool environment,
the service, the hospitality needs to be world-class. And, you know, you mentioned Grutman,
that's like the, I mean, at the top of a short list of people you might partner with, I have no
idea if he's interested in doing his own things and very successful.
I think he actually has a book dropping later this month.
Or they bring it in-house.
And I'm not saying they have to rely on club members, but there's a lot of talented club members, some with incredible hospitality backgrounds like yourself.
I'm not saying you're not trying to force you to move to Miami, but.
I told him I can help, you know, but down to help in any way possible.
Of course, I want them to be successful.
So I would love to see that and would love to help in any type of way for sure.
I love it.
And while this isn't a athletic club per se, the clubhouse,
while they're not necessarily doing that as their core,
leaning into like the social club element.
And we've seen in the renderings, poker tables, pool tables.
I can also see, maybe they don't have a pickleball court.
Maybe they don't have a, but I could see them doing,
that could be monthly activation where they have an area
that they've got space to set up, you know,
and do a pickleball tournament to do a, I don't know,
whatever they could do with what, once we see the venue,
I think it'll open up what those ideas, what those activation are.
To your point, doing daily activations, daily events.
I think, I think that's the way I think have something going on.
If not every day, and they don't have to be big blot events.
I'm not talking like an eight fast every,
every day or eight press every other Friday,
but have something going on every day of the week.
That's a reason for the locals to come see.
And what that creates is then you have like,
maybe it's like something as simple as like an open night,
open mic night,
but you have people that really enjoy that.
It's every Thursday.
So that your regulars come back every Thursday to participate in that.
Maybe there's a cornhole tournament the third Saturday of every month.
And people that, you know, maybe someone like myself, I'm big in, I'm not big into cornhole.
But let's say I was big into cornhole.
Maybe I'd make the drive a couple hours every third Saturday of the month because I want to participate in the cornhole tournament.
Oh, exactly.
There's some events we throw that people from all over Florida come just for one night.
We call it preferred pricing for members, and I think that's hopeful.
Something they do as well is everything pricing for members is better.
Some things are free.
Maybe the public has to pay.
Maybe public and members both have to pay, but members have better pricing for it.
That's hopefully how they lead and on their mind, but that's something huge.
You got to keep members engaged,
but you got to get the public in as well.
We'll go to, I agree wholeheartedly.
We'll go to Malik here next.
Before I do, one more question for you, TIFAR.
When I've been writing on the, you know,
these non-alcoholic bar concepts,
the coffee bar concepts, if you will,
these social clubs, you mentioned, you know,
an athletic club in St. Pete. Do you, Joey was earlier was talking about how Miami is so
competitive from a nightlife standpoint, a nightclub standpoint. And I don't get the,
I don't think the clubhouse is a nightclub. I don't think that's what might they have nightclub
elements? Sure. But I don't think that's their direct competition. In fact, I'd say
more direct competition would be something like where you're at, something like these 24-7 or 7 a.m. to 2 a.m. Cava Bars or that sort of social club environment.
Why do you think St. Pete has become such a hub for these sort of establishments, these social clubs, these non-alcoholic bars?
There's over 50
Cava bars alone in just Pinellas County. It's kind of wild. It's got to be the most in the U.S.,
if not the world, per capita. Do you think there's something, is it just because it got started there
and so it's almost like an epicenter and just growing out from there? Or do you think there's
something that makes St. Pete and that area so unique to support these athletic clubs, social clubs?
There's also another one that's a – you've probably seen it.
It's on Central.
It's a golf club.
It's a golf simulator.
So think of like Topgolf, but it's just purely golf simulators.
And I want to say there I think the initiation is like $2,500, and then you're paying monthly or annual dues as well.
What is it about St. Pete, or is it just because of the market showed that, hey, this makes sense, it works,
we've seen other competitors fill in to meet the demand.
Any thoughts?
I think it's just the new niche of where late-night hangouts, where just hanging out, finding the community is now.
It's not going out and getting
hammered at the club it's looking for like-minded individuals that may enjoy pickleball may enjoy
golf may enjoy uh different types of kava bars they're looking for that third space more than
anything you know we're the best club on the internet people are still looking for the best
club in real life as well you know and trying to find those like-minded individuals where you can have that third space, that home away
from home.
I don't think it's just the St. Pete thing.
It's really, you know, everyone wants to be in Florida as a whole.
And that trend of the new club is the direction of, you know, getting the stagnant yacht clubs
that are, you know, 60 and up are kind of dead now. It's just a new
meta that people are forming around. You know, I agree. It's the first time I've ever thought of
like, maybe part of this, what we're seeing here. And I agree. I think it's the new trend. I think
it's so much so that I've been in talks for too long now about partnering up with some of these
to help them scale nationally. I don't think it's just a local thing. I think it is the new trend.
And, but the first thought you put in my head is like, maybe part of it is the traditional
country club, the traditional lot yacht club. It's, it's kind of age where the younger generation
feels a little aged out. Maybe, maybe it's due to cost. Maybe it's like, man, I'm not going to pay
a $50,000 initiation fee and five grand a year. Or maybe it's like, I don't
want to go hang out with those boomers. No offense to anyone in a country club or a yacht club,
but maybe part of it is there's this generational gap and looking for a more affordable, but yet
still somewhat exclusive, still fun environment. And I do, I think like it's not community
and the idea of getting together
with people you enjoy hanging out with
isn't a new concept.
It's been around for centuries.
It's just, I think we're seeing, I agree.
I think this is like the new, this is the new meta.
Oh, for sure.
It's taken over all over.
I hope, you know, the Board of APL Club
does something within more than just a
co-working space and bar and lounge you know that brings in a whole community outside of board apes
as well but it could be yeah based off different events it could be um you know something that is
permanent but we'll see i hope they uh define the direction they want to go to and it thrives
yep likewise looking forward to it for sure. Let's go Malik and then
we get looking here. Malik, GM,
I know about this Miami area
and knows a thing or two about the market.
Thoughts on this clubhouse and anything
else on your mind this morning?
Malik, if you're still with us.
If you are, you're muted.
There we go.
I think he's having those X issues again.
Let's go.
Again, if anyone's having issues getting up or any issues with X,
try to get that update in and then do a quick lap and rejoin us.
We'll see if we can get Malik back up here.
But until then, let's go.
Let's go. Loki, GM,
thoughts on this and anything?
I know we started talking NFT Renaissance
and floors pumping across
the board. It's not just a
Yuga. It's not just a Bordet Piat Club and Clubhouse
dynamic, but thoughts
on the market at a whole or anything specific
to Clubhouse?
Yeah, man. Yeah, man. Happy to
be here. GM, everyone.
I think when we talk about the demographic of NFTs,
so we, at the beginning, like during the mania,
there were like a lot of young people.
And I remember brands say we have to build for Gen Z.
But at the end of the day, if you watch around, we're just uncle here. So I think the positioning of the clubhouse is really
perfect for this demographic. Totally makes sense. And on the general market, I mean, I'm looking forward to hear those takes, those posts that you said, marking the bottom.
I mean, I'm calling the bottom since 2022, so I'm not sure what I'm talking about.
But I feel like what's left in crypto.
I feel like the last two years in crypto were a completely garbage of semi-product.
I think we could say Tulandarit was a big farm, whether it was Minkoin or new chains or new copycat products or InfoFi, whatever.
And a lot of people left, rightfully.
A lot of people left for TCG or left for AI.
So the ones left, they're looking for some kind of connection, right?
Like, what's left?
Where are the humans?
Where are the real people?
Who are the only Japanese soldiers
who keep bullposting something?
And I think that resonates with them,
with the only left.
So NFTs are here to stay.
The communities are still strong.
And that's why I feel we are seeing a shift in the market.
I think a lot of people in crypto, maybe before they faded NFTs or they didn't think, they
thought it was a fade, they are slowly, slowly coming back mean we know NFTs are inevitable and blah blah blah blah
so that's that's my that's my view on the NFT market that's a little bit different from
what everybody was saying years ago where NFTs are are a thing of the bull market and if these are
NFTs are end cycle assets where people are going to be just rich and spend on digital assets to flex.
Maybe, maybe, maybe it will still work that way if we ever get another bull run.
But I see it right now to be actually an asset of Bearmark.
Like all the few things that are still here in crypto and they feel like real. I agree. And I know I mentioned
we got a special guest joining us here at 930. So I want to get through the rest of these hands. I
see Malik got back up here. We'll get to Malik next. I also want to fly through some of these.
I mentioned I had some objective and subjective, some subjective things to support my thesis at
the bottom is in. You mentioned, I'm going to share one of these that I might do like a lightning round to
go through the rest, but you mentioned like real things and, and what, like from a physical
clubhouse to more than just digital art, no offense to any just pure digital art plays
out there.
By the way, speaking of digital art, I am, if anyone can get me into the Rafiq public
sale, I really would like a Rafiq. I think there's only 250 in this new supply that
mints here later this week. And I don't even know how to get in. I'm guessing you probably
got to hold on to those other pieces. But if anyone can help me along that path, I would
greatly appreciate it. But speaking of these newer NFTs from Pixel Pups, and I know we had
Simple Farmer on here and we tried to show you all to get that free mint.
Congratulations to those who took advantage of it.
I think we should getting back on here to do a deeper dive on K9 and all that he's building out with that.
Like so much more to an NFT than just the digital art.
Part of it is being able to program against us.
It's programmable tech.
I see Cirque out there.
And this is one of the things I wanted to highlight this morning.
Cirque, we won't have time to do a deep dive today, but I would love to get you back on here to highlight all that you're building with Normies. And I just want to flash this real quick.
He says, NFTs, agentic NFTs.
Normies is a combination of 10 smart contracts.
It's creating a history for Hive, feeding over 20 data points direct from our API in real time, a living collection.
If you like NFTs, you'll love normies.
Just one little quick glimpse into,
when I say this next NFT cycle
is going to be very different than the last NFT cycle.
I do believe some, the apes, the pudgies of the world
that established themselves and have lore,
that have diehard community members,
I do think they're set up to have, have great success in the next cycle.
I also think, and some of them can tap into the technology,
especially those that might be on an upgradable contract or, you know,
someone that can work with maybe, I don't know,
Unvault one of our sponsors to help them go multi-chain and,
and protect royalties and share those royalties with their hoarder base.
I think the other thing we're seeing is the newer projects, they're really bringing new
things. We're seeing more experimenting from the tech standpoint than we've seen in a long time.
I feel like 23, 24, 25, we might have saw some new NFT mints. And we shout out to Good Vibes
Club who brought back an NFT mint that was well executed with incredible art a little over a year ago.
And they really leaned into the collector base.
They really leaned into collectors wanting to collect and build out their collector profiles and rewarded those holders with badges.
And that was the first experimenting we've seen an NFT collection do it in quite a while. And I feel over the last couple of months, most of these NFT collections that are running, it's not just because. They're
doing things differently. They're experimenting with the tech from normies to pixel pups. This
is a post from TMA. It says the only new collection I think is criminally underpriced right now.
I wouldn't be surprised if the floor is 2, 3x what it's currently sitting at.
And he was right.
I mean, he sent this out on Saturday morning.
And between this post he sent out Saturday morning and now, the floor price is already 2x.
Because there's more than just an NFT.
He's really building new tools, leveraging the technology we have today, leaning into AI, leaning into AI
agents. There's so much cool stuff that can be done with these digital assets. I want to see
more of that. This gets me really excited to see the tech getting unlocked, see founders pushing
the space forward, innovating once again. And as part of what got so many of us so excited about
NFTs in the last bull run is there was just more to it. I don't know much about, this is Greeny retweets Berated,
who says, NFTs greater than meme coins.
Berated said, how are you still making money off NFTs?
He says, me, sweeping, minting, sweeping, holding, and believing.
NFTs are quote-unquote so dead.
And he highlights normies, DelMundo's.
Shout out to Benny and team who just did some cool new stuff there
with a philanthropic approach.
Gimbos is a whole tie into Ape Church and I'm saying casinos.
Human Resources is the other one I'm not overly familiar with.
But I believe all these are doing something with the tech.
They could do more because they're on-chain and they're leaning into those on-chain capabilities by programming against the the tech, than they could if it was just a traditional collectible.
Malik, let's go take three.
GM, I hope we get the tech issues figured out, so I am genuinely curious.
Is this working? Can you hear me?
You're back.
All right, dude. Yeah, I don't know, man.
Twitter glitched on me. I couldn't come off mute before.
And I know you got someone coming in five minutes.
Oh, good. Do your thing no no no
rush yeah so a couple things one back a while ago you were talking about you know doing it in miami
and oh i'm glad they did it there versus somewhere else i would just remind everyone this has
literally been on the roadmap clubhouse miami clubhouse has been on the roadmap with those
exact words for like I don't know it
feels like three years now maybe more it was it was always it was always going to be in Miami
there was like no doubt about it the question was like where in Miami specifically um I'm glad they
did uh or didn't do like Miami Beach which anyone who actually lives down here uh is like it's a
mission to get there.
So Wynwood feels right.
Selfishly, I would have liked maybe like somewhere like Coconut Grove or something like that.
But again, very limited what you can do and not as much space.
Wynwood feels right.
The art scene, the vibe is on point.
Agreed.
You know my name is far better than I.
I like Wynwood.
I've been to Wynwood mainly for Art Basel. I think the vibes just feel right. And really, in all of Miami, the only place I would have like, not that I would have frotted it, but the only place I would have been like, oh man, I don't know if this is going to work would have been South Beach.
probably paying, I'm guessing, two to three X the rent and the operational cost to be over there.
I feel like that is a, might you get tourists and people that are visiting might be maybe popping
in, sure. But I feel like you're cutting off a lot of your local regulars, not only club members,
but like someone who might come as a plus one or just the general public. I don't see them going
out to South Beach to go to a social club. Like it's-
No, that's exactly right. That's exactly right.
You've got to fight the bridge.
If there's no traffic, maybe you get across the bridge in a half hour. On a bad day, though,
you might sit in traffic for an hour or two hours.
I think one time we sat for 90 minutes during Art Basel trying to get across the bridge from South Beach back to Wynwood one day. It is's just, it is not easily accessible. And yeah, I wholeheartedly agree. I'm glad they didn't do
South Beach. And look, Gordo and Garga, they're Miami guys, right? They're from here, like me,
born and raised down here. So they know. They know the nuances of just one neighborhood to another.
So it feels right. I'm actually going to sit down today and spend a little time. I'm pretty sure I can narrow it down to within like two or three addresses, like buildings, where this is going to be.
Because there's not a ton of like high rises in, you know, in Wynwood.
I think it's going to be a pretty good building. Do you agree?
I don't think they're doing a new build, a new construction.
No, no, it's definitely a building.
I mean, even if you look at the renderings, like the outside space is kind of like a rooftop terrace or like an open terrace.
The view, it's got to be in a building.
It's not going to be, I don't think, a standalone space.
I mean, there are plenty of cool standalone spaces they could take over, but it doesn't look or feel like that to me based on the renderings.
to me based on the renderings. Um, and, uh, in terms of like what this could look like from,
uh, you know, what the place will look and feel like and how it'll operate. Um, I think you nailed
it again. Like this isn't competing with live and 11 and story and all these other places. Right.
And I, a lifetime ago worked in, in, in all that and in the hospitality biz, right. It's a different
vibe. Uh, it's not a club. I think that it's probably more similar to, I've been a member for like
seven, eight years now at a, at like a cigar lounge in Brickell. That's like a real, like
nice, you know, fancy place where it's, it's open to everyone. Anyone can come. But if you're a
member, you get like your locker that you can put your cigars in, right, and keep your drinks and all that stuff there.
You get member pricing, so like 25% off everything for being a member.
You then also get access to all these weekly events that they do and one big event a month where it's like wine tastings or cigar tastings or whatever, stuff like that.
I think that's probably closer to the model that you're
going to see i think at the beginning to drive fomo they'll probably make it so that some of
the events at the beginning are going to be really sick very very like you know popular events
everyone's going to want to go to and then it's like hey all right go buy a mutant right now off
the floor it's whatever a thousand fifteen hundred dollars two thousand dollars whatever it is at the
time that's what people drop in one night on tables at
live, right? Literally in one night, that's what you're spending. So it's like for in the Miami
pricing scheme, not at all. It's like cheap, right? When it's like it's and you're not just
doing it for one night, you're getting it forever. So I think the pricing there makes sense. And then
you've got to look at who the weapons are that we've got for this
exact thing and it's illa then like go look at illa you think it's a coincidence that illa was
tweeting about justin bieber still holding i'm gonna wait till you stop talking my i just said
last week my my kind of my concession on the show was one of the live shows i really want to see in
my life i want to see beaver play live when he he said that to him, I'm like, Oh my goodness,
Beaver is going to play at the clubhouse.
This gets happening.
Yeah,
dude.
Come on.
Hilla is like one of the most plugged in individuals in the music scene and the culture scene.
Like you don't think we're going to be using that space to host the next board ape and
bait collab and what I'm like,
sell stuff.
They do like all kinds of dope shit.
It's going to be sick.
I think it'll be able to stand up on its own two feet and succeed outside of just the private club membership
aspect i think that if they build a cool space a cocktail lounge again in miami any new place if
it's like marketed correctly and has like a little bit of the right hype behind it you've got just a
one-year free success off of like the novelty pop yep so
i think it's gonna do really well man um i'm really excited this is like what i've been waiting
years for i'm i'm stoked as well excited to break bread with yourself down there many other
like there's so many of these florida apes miami apes like apes in general but so many like
i i feel like we've hung out a lot more than we actually have.
And the reality is it's like an ape fest and maybe there's another event a
year. Maybe we run each other at a conference,
just a lot of people I really enjoy spending time with.
I just haven't had, and not that I say I need an excuse,
but I kind of need an excuse. I just, I'm busy.
But if I had a reason to hang out, shout out to Apewear for doing the paintball
thing. Like I am genuinely excited.
The one thing that I hadn't thought of, like, I do think there's an opportunity for them to sell product, both collab stuff and NBA stuff there.
I think just as a pop-up shop, man, they do their next big collab with Bape would make sense.
There's a pop-up shop there for a weekend, for 24 hours. Like I can see that as also like a great top of funnel traffic driver that is unique from a lot of these other, you know, social clubs or nightclubs that someone
just opens up from, from scratch. I think these are big key differentiating factors.
All that being said, I've got, go ahead. Just one last thing I have to get out is the,
on the point of when you said, I think it's think it's smart, the whole Art Basel thing.
I hear you.
I think it's going to be sooner than that.
I don't think they would put coming soon if it was for the first week of December.
Something tells me it's going to be late Q2, early Q3.
I think I'm leaning that way.
I know earlier I said, be closer to Basil.
Someone else said Basil plus Ape Fest would break Miami.
I think you're right.
I think it probably is it because here's the thing.
They haven't even announced Ape Fest yet. You know, they,
I think if it was in typically, you know,
the last few years when Ape Fest has been like October, November,
it maybe gets
announced at this time. I think you're right. I would not be surprised, I'll say, if it comes
before the end of the year. And then maybe during Basel is like, it's the spot, you know, like get
it opened up, like you said, drift off of just the novelty of being new to Miami for five, six
months. And then when Art Basel drops, it's the spot.
You know, that's the Bieber concert.
That's where, you know, everyone in crypto
wants to hang out during the week
because it's the coolest place.
It's not just a rental building.
It's not just a warehouse someone rented out.
It's the clubhouse.
And I do think that could be,
from a timing standpoint,
would make a lot of sense if they go that route.
But yeah, super stoked about it, excited about a lot of sense if they go that route. But yeah,
super stoked about it, excited about a lot of things. I've got 10 tabs. I'm going to do a
lightning round flyover, all 10 of these tabs. Loki, I saw your hand fly up and down. If you
want to get in on, we can after I do this flyover. Before that though, I'm going to do a quick coffee
break. Don't go anywhere. We've got a special guest joining us. A favorite of the show, one of
our favorite segments ever. I'm excited to bring Brack. I'm going to keep you all hanging on until I get back from the coffee break, and then I'll let you know who it's going to be.
But they're in the green room.
Really excited to bring on a dear friend and talk about some big brain stuff here in a little bit.
And I will.
I promise I'll share these 10 tabs I have open with both the objective and subjective takes on why NMTs are back and the bottom signals that I'm seeing everywhere.
Don't go anywhere though. Quick coffee break. Why we're on this coffee break? If you haven't
yet given us a subscribe, if you haven't subscribed to our YouTube channel, go over there, hit the
like, hit the subscribe on the video. It would be greatly appreciated. We'll be right back in about
less than 90 seconds. So go anywhere. Thank you. barely made it back. We are back.
If you're new here, welcome to Coffee with Captain.
We do go live every Monday through Friday at 8 a.m. Eastern Time.
Often we'll cover news today, trending topics for about the first hour, hour and a half.
And then we're very fortunate from time to time we get special guests join us.
Today, I'm excited to bring on one of my dear friends.
Some of you already connected the dots, just joined us on stage as well. So not going to be too long, but before I go into our special guest segment for
today, and we'll be running this back every Monday, whether this special guest can join
us every Monday or not, we will keep the theme for sure. But quick lightning round of those
headlines, those takes that I shared or alluded to earlier.
So you don't think I'm just engagement baiting all of you. Here they are. Starting with Grateful
Apes. I said earlier, 21 apes till 70th floor. The floor is thin, as the kids say. Kwan,
apes up 10% since that hinting that the clubhouse is coming soon. If you live in the area,
probably makes sense to get one. Not a bad price for club membership in Miami. In real life utility is how you build hype for
NFTs nowadays. Couldn't agree more. Greeny just showing some NFT floors now that farming has ended.
Floors starting to increase naturally for the first time in years. Journey Crypto, NFT trading
volume, the lowest it's been since first started heating up with CryptoPunks in early 2021.
But for the first time since the crash started, there isn't any marketplace farming, trading volume, the lowest it's been since first started heating up with CryptoPunks in early 2021.
But for the first time since the crash started, there isn't any marketplace farming,
which means less artificial trading pushing floors down. We also have enforceable royalties on the contract level now, and blockchain upgrades have really brought gas fees down
overall. The bottom is in. I wholeheartedly agree. Even Crypto Bitlord 100% agree that the NFT bottom is in for the
market, but he doesn't think legacy products will ever recapture their value. It's his belief that
new markets will emerge, new products will flourish, driving trading volume back into
the exciting world of collecting. J-Bond, again, claiming that the OpenSea treasure chest, the
voyages over there had something to do now that the farming is over and getting some news, some excitement.
Also, first time I think in a long time we've seen an announcement actually send floor prices positive, not the other way around.
Double Farmer doubling down on the incentivized bidding, incentivized selling, said now that the tumor has been removed, this is where you slowly start seeing some healing. Being a collector and, dare I say, investor
is at least a feasible endeavor once more, where as you at least get to experience true price
discovery again, either way, where negative price action spirals are not incentivized and
subsidized by airdrops or useless tokens. Now stay out of the way. MFers, he says, no more.
airdrops or useless tokens. Now stay out of the way. MFers, he says, no more.
Tat Thang says, the next NFC cycle is coming. Your timeline won't tell you this because the
timeline is completely dominated by ETFs, stablecoins, and tokenized treasuries right now.
Crypto in 26 looks and feels like a regulated financial product. That's not an accident.
And it just goes on to talk more about where the focus of the space is in the narrative that NFTs are
dead has reached terminal saturation, meteorite obituary, influencers moved on. I may hit on some
of those tourists who have left. The floor prices did bleed out. Now we've got more tech, more
experimentation, and it feels like a good, a much firmer foundation and starting point than some of those other
short-lived pumps. And then last one, Warner says, been watching the floor for months,
trying to find one he loves, the clean aesthetic apes, straight diamond hands, low key, respect
that a lot. And Farmer said, yeah, it was the same 30 apes being farmed over and over. 80%
of the collection has never moved hands. And now that farming is done.
Exciting times.
Maybe it's a short live.
Maybe could things go backwards?
Yes, absolutely.
But there's a lot to be excited about far beyond just the floor price.
Speaking of things to be excited about, I, for one, am super stoked,
not just for this next segment.
This might be the last time you're going to hear this jingle.
We got a new jingle in the making.
But speaking of Coffee with Captain favorites,
this is an all-time favorite for this upcoming segment,
our special guest today.
I'll play him in with a proper intro,
and then we'll get rolling with our AI segment of the week.
To me now, it's fire brain time.
Our topics and thoughts are so blind.
It's got plenty of leads in mind. I'll see might run with. We'll crowdsource some titles for the segment, but
really, truly excited to be running it back with my guy Bunch. We get pimpsed anyways, Mondays at 9.30, we'll do a weekly AI update, AI segment. Obviously,
if you've been here, we do interweave and talk about the AI headlines and AI topics.
Not every day, but almost every week for sure, we've hit on something AI. But I'm not the subject
matter expert, so honored to be joined by one today. Bunch, GM buddy, how you been? Good time. Good to see you. Great to see you.
We chatted every once in a while on the DMs, but it's always great to see your face.
I feel like the Coffee with Captain Prodigal Son coming back to the show.
So much has changed, like official coffee breaks and things of that nature.
Your background is very professional these days.
And I feel like I've got the opposite.
I went from this nice lighting and professional mic
to I'm huddled up on my laptop today.
So I'll have to get the real setup back going.
I haven't done too much podcasting or video streaming in a while.
It feels good to
shake the rust off.
See if we still got it.
I played some
pickup basketball this weekend.
Talking about shaking
the rust off and seeing if you still got it,
I think this should be
easier than that.
Speaking of pickup basketball, you're still being confused for Steph Curry.
So professional background or not, we have either BunchyBats or Steph Curry joining us today.
And yeah, I appreciate the kind words.
I've got the ApeFest, some art, some books and all that stuff on the background.
you know, some books and all that stuff on the background.
Although after seeing TBPN getting acquired by OpenAI for $100 million,
I meant to, I forgot today.
Tomorrow, maybe I'll do it.
I'm going to, I think, really professionalize it up.
And I'm going to, I'm just going to start rocking suit and tie on the show.
I think that is the new.
You need the jacket at the very least.
I mean, how crazy was that?
I don't know if I was out of the loop
or what. That was so out of left field
to me. I'm curious what your
take was when you saw that.
I mean, great topic to just jump
in on and start talking AI because they were
acquired by OpenAI.
Let me ask you first. Were you a
regular? Had you listened to TBPN?
Have you seen some clips?
Before the acquisition, what was your level of knowledge as it relates to TBPN? Have you seen some clips? Before the acquisition, what was your
level of knowledge as it relates to TBPN
the show?
I had seen them obviously
hit the mainstream.
It felt like
they came out of nowhere.
And I think what was interesting
about them feeling like they came out of nowhere
is because of how well they do
production, I felt like I had been living under a rock and just missed about them feeling like they came out of nowhere is because of how well they do production.
I felt like I had been living under a rock and just like missed something very big. And I guess I had, but, um, you know, so I watched every once in a while, like I'd watched the Robin Hood CEO
interview and he's talking about AI and prediction markets and things like that. But I wasn't like an everyday tune in person. So that was very out
of left field to me. I'm curious what it actually means, right? For a company like OpenAI to buy
a human created content engine is like that stuck out to me as potentially interesting of, like, where the meta, like, what happens
in the increasingly AI world when you see a company like this
buy a broadcast. I'm
curious, did you have any thoughts like that? Like, what was your take when you saw it?
I mean, first I was, I mean, excited because of what I do for a living now. It was like, well,
this is, not that I expect, and rumors are they because of what I do for a living now. It was like, well, this is not that I expect.
And rumors are they sold for north of $100 million to OpenAI.
And while that's not my number to go to retire to the luxury boutique hotel in Costa Rica is much smaller than that.
Excited for many reasons.
For one, like you said, it's like the fact that it was open AI that bought
them. To me, that was more exciting than say like a, I don't know, a meta or a Google, like another
tech company, because exactly what you said, it's like, this is a company that, you know, some people
are saying, oh, AI is going to take every job. Well, one of the giants in the space just acquired humans.
And then expanding on that, I thought, well, I wonder how much of this is to gain distribution
to their audience, not just from a consumer standpoint of who they might onboard to open AI.
But I wondered in the case of opening, I wonder how much it was because their audience is so niche and high net worth individuals, the guests they have on it attracts a lot
of people from the tech world, a lot of VCs, a lot of people from Silicon Valley.
I wondered how much of this was distribution, not just to gain potentially a top of funnel
for ChatGPT, but rather for investors to control the narrative and get the ears and the attention of investors.
And I guess where I net out is,
we've said it here before, I mean, a while ago,
I think all companies are content companies.
It might have been actually you that first said this,
but the thought in my head, it's like,
if you're building a brand today and you're not building content,
whether you own the distribution
or you've partnered up with some top-level content creators,
you're doing it wrong. You don't have to share everything. It doesn't have to be
fully building in public or behind the scenes. But it's like you're doing it wrong if you're
spending tens of millions, hundreds of millions of dollars on advertising to get through traditional channels of media versus doing some of that homegrown
or close partnerships with one. And I was similar to you. I had watched the show,
a couple of them, they'd have a guest on that I was interested in. But mostly I just caught clips.
I caught clips on the timeline. And kind of like you, we'd talked about them doing some competitive
analysis or research on how can we make the show better.
And the thought of wearing suit and tie hadn't popped into my head.
But from a production standpoint, it is an extremely high-quality, well-produced show.
I think I saw they have a team of like 11 people.
And yeah, I think this will probably potentially start a know, maybe Anthropic goes out and buys a media
arm or talent. Because I think the other thing I could see OpenAI doing is not just leveraging
TBPN for, as I said, controlling the narrative, but I could see them leveraging that talent and
that team to help with comm strategy, marketing strategy, do more for open AI as a whole beyond just the show itself?
Yeah, I mean, I think there's definitely an element of
reputation building for open AI.
Like they kind of, the drama,
the ongoing conflict and drama between like open AI,
ongoing conflict and drama between like open AI,
anthropic,
grok,
like Elon,
it's coming.
It's like starting to feel like it's all coming to a head.
Right.
And like,
all right,
there's certainly an element that feels like,
okay,
help us build our reputation back a little,
help us not feel like the stuffy ones uh here because i think they had gone that far
in the last you know six months like you can feel if you've been paying attention to the ai stuff
closely like it feels like it goes in waves of like who is the most revered or who's got the
best models at any time or where everybody's putting their time and
attention, right? It was like, you know, last year at this time we were doing the show, it was all,
it was all OpenAI and ChatGBT. And then Gemini came on and they were the hot thing, but they
never really felt like, you know, they still feel too big, right? They're Google. Like they never
feel as like startup-y as OpenAI or Anthropic does to me.
And then I think it was really over Christmas when the Claude Code phenomenon happened and
everybody started using Claude Code all of a sudden. And then Anthropic with Opus 4.6 and
OpenClaw and all of this stuff, they became the darlings for a while. And now I kind of feel like in the last couple of weeks,
it's flipping back a little bit.
And then there was all the stuff with the government,
like the anthropic stuff with the government,
and OpenAI swooping in for the contracts
and everything like that.
Yeah, it's kind of its own giant soap opera,
which is somewhat scary when you think about
how much influence these companies and labs
are going to have in our everyday lives going forward.
Kind of a weird thing to think about.
Do you think there's a negative or a downside
for them owning the distribution arm?
Will people take them less serious now, TPN that is,
TPP and it is now that they're just saying that because
OpenAI owns them. Of course they're not going to be critical of Altman or of course
they're going to be promoting OpenAI. I can understand where people see that
but I'm not going to pay attention to them less now. I feel like that happens everywhere though, right?
Like anytime a show or any type of media has a sponsor,
I feel like there's kind of that thought of like a built-in bias there.
They'll surely have to work to like make that not true.
But I think like, I think that happens all the time, right?
Like one of the big sports shows I listen to is sponsored by Calci.
And sometimes they have takes that are pro-Calci,
and sometimes they have negative takes that are anti-Calci.
And so I think they will have to do some important work to not be biased.
But overall, I think the biggest picture is bullish on human creators.
That's one of the things that will survive, which I think should make you feel pretty good
just in terms of where you're headed. Yeah, no, it does. And not just for myself, not just for this show, but quite frankly, I use AI every day.
I consume a lot of AI content.
I think I've shared with you previously.
I was Chad GPT.
Now this year I've shifted to Claude for my daily, not even DFS, but like the underdog snake draft type tournaments.
I'll throw, you know, I don't know, 20 bucks a day firing a few bullets in there.
And I use AI for that content. It's good. It gets information, uncovers some things that
the talking heads all don't. I still listen to podcasts. I still listen to human creators. And
I think I don't want to see that go away. I don't want to see, from a consumption standpoint,
I don't just want to be fed artificial information. I don't want to just be fed simulated information. I do. There is something for me that I enjoy about
the human connection, even though I've never met these people and most of them I probably never
will meet. There's things there that today, yet so far, AI just can't replace. And this is like,
I think, a good signal that human craters aren't going away i also think like you know
there's um something to these this con like human content of course of like someone's real opinion
right like um you know if anybody's listened to this show is speaking of things that are
happening in the world uh we've got the Artemis circling the moon today.
And the show lore would suggest maybe,
maybe we don't think that's happening.
But,
but you know,
you're never going to get that from AI,
right?
Like they're not going to tell you that or, or even suggest it.
So I think there's something to having even creators with opinions,
building communities.
And like, that's something
that's obviously always resonated with yourself and people who listen to this show. So I don't
think that's anything new. I do think what is interesting is like a company like OpenAI buying
a piece of, you know, a property like this, it says, I think a lot about one where they think
like attention will be in a world where there's
like increasing, you know, potential job disruption and things like that. People who can create
things and communities and audience for themselves are going to, I think, feel like they've got a lot
of power in the new paradigm. Yeah. I, you're kind of unpacking this for me.
Like I, part of like as a consumer
and as a, you know, certainly as a show host,
I pride myself on being authentic
and like it, love it, hate it.
Like it's, you get what you see.
Like I am genuine, sometimes to a fault,
share things on my mind
and sometimes wear that on my chest.
Not always the best, but it is what it is.
Like that's what you're getting here.
And I think while AI might be super intelligent and far more intelligent than me and most
podcast hosts, it's not, it's not authentic.
It's going to tell you maybe accurate information, but when it comes to opinions, it's, it's
going to tell you what it thinks you want to hear or.
Which is, which is kind of what uh described in a roundabout way with
like the fantasy and dfs right like the things it's good at the things you like it for is not
that the things you listen to you you still consume from a content standpoint is more what
you're describing now yep absolutely um you mentioned there in passing like you felt the
pendulum had like it went from opening AI is taking over the world.
ChatGPT is the best to most people in the space shifted over to Claude is our
go-to became my daily driver.
I still now,
you know,
I use Claude probably like 80,
I'm guessing compared to open AI and everyone's all use Grok for something,
but really my two primary LLMs it's,
it's Claude and then OpenAI. You mentioned
you're starting to feel somewhat of a shift. I saw you, I think last, maybe Friday, you shared
your email screenshot or message from Claude. Maybe for those that didn't see this, cutting
off OpenClaw, I think is a big deal. I saw of OpenClaw had, I saw a guy, Von Fronten,
who was really excited.
He actually gave you a shout out
because some of the stuff you tied him back,
when Firebrain was a thing,
he was able to find some work around
so he could still utilize OpenClaw and do what he had built.
But is it just this?
What do you think is shifting the pendulum back
from Claude a little bit to OpenAI?
Yeah, I think that there's...
Let's see.
This is like not a non-trivial thing, what you're looking at on the screen, right?
So back in, I would say, December, everybody, it felt like overnight,
started understanding how powerful Claude
Code was.
And from a standpoint of not even just writing code or building something, it was basically
with the introduction of skills that they rolled out and all of that stuff, it was basically
it was basically like an agent for anything you wanted.
like an agent for anything you wanted.
Because it had tool calls to call the web and it could just code on the fly with obviously one of the best coding models that exists, etc, etc.
So it really felt like for the first time you kind of had this agent for everything, right?
And so that was enough to get me to switch to like, I had always kind of been resistant.
And this is because I was like afraid.
I'm not a technical person by nature.
Everything I've done is kind of like self-taught with this stuff, right?
And so I was always afraid of like using Claude Code in the terminal.
And so, but once I kind of realized this and experienced it once, I was
hooked. I like, holy shit, what was I doing? I should have been doing this six months ago.
And that became like my daily driver. And then, and you could use it, like I said,
it became an agent for everything. It wasn't even just writing code or building projects.
It was like, man, I have X, Y, and Z thing I need to do through a work email.
And it could have access to your folders and files.
And it was really like running a local agent because of using the smartest models as the backend, right?
Because you could have cloud code running in your terminal, you could open up a project folder,
and it would have context to everything in there.
So if it was like analyzing data
or reading work documents or whatever,
and that really started to feel kind of magical.
And then three months ago, maybe four months ago,
the OpenClaw thing really came out
of what felt like nowhere, right?
And if you're not familiar with OpenClaw,
it's the open source kind of agent harness framework
that has now since also been acquired by OpenAI,
which I thought was very interesting.
Anthropic kind of came in
and they were pretty aggressive the other way
because what was happening was with OpenClaw,
people were using their ClaudeMax subscriptions
to OAuth in and use that as the kind of driver.
So for $200 a month,
it became the best value on the internet
because you had this heavily subsidized token usage that you could use with this all-powerful
local agent for the first time. And it was really, really this eye-opening experience if you
had played around with it and got it to work and i i did all of the very cliche like go buy a mac mini
set it up i i wanted to have the the experience and um i still run my open call agents up until
you know friday and so now i have to figure out what i'm going to do with them but
point was uh anthropic kind of like came in it was really. They had the guys change the name. Now, obviously, they are backing off of having people
be able to use the OAuth as the third party. I understand
why. There's two reasons I think are valid. One,
the sub is not meant to be used like this. We're probably
using so much of their compute for
$200 a month,
that if you were doing the same thing through the API
is probably a couple thousand dollars a month at best.
Same to assume that the people that are using OpenClaw like this,
they're power users too, right?
These are like the very edge, the bleeding edge of the tech,
and they're the ones that are,
whether they're going through OpenClaw or otherwise,
they're probably going to use more tokens on average than any other users out there.
And this was a backdoor. This was a workaround, essentially.
We were probably melting their usage, right?
And so I totally get it from that standpoint.
And then now it's kind of like, it's still open source,
but it's technically owned by a competitor.
And so I see why they wouldn't want you using it through there either.
But that's kind of driven me back to, okay, well, can I do the same things or better that I was
doing with Cloud Code with Codex? And so I started using the Codex app and for building and coding,
For building and coding, it's better.
Really?
It's better than Cloud Code, in my opinion.
From a personality standpoint, Opus or Sonnet as a model is way better to interact with. like you've got uh Claude Code is kind of like it feels like Claude Code is kind of like this
you know very charismatic co-worker that you have that's very good at his job but still sometimes
makes mistakes and then uh Codex is like the engineer that lives in the dungeon that nobody
talks to or exists but just like gets shit done like that's what the difference feels like between so i've actually started using
codex outside of like my open claw agents as kind of my daily coding uh i think the app is better
built too for just managing projects and things like that so um i've kind of gone you know back
and forth there was a while i literally had... This is so embarrassing. I had three, three Claude Pro Max subscriptions.
Why?
Just because you'd run out of tokens on one and you'd go to the next?
Yeah, I would get limits on them.
I'd get my weekly limits for my OpenClaw agents
and I'd have to switch and swap them out.
That became a hassle.
So I just started putting them on different ones.
Wild.
How?
I mean, I was using them.
We can get into this kind of next time if we want to.
But I mean, I was using them for real business cases of like what we were building with,
you know, Billy and stuff.
So we were using them pretty heavily and gave them a lot of responsibility and it
was really interesting. And, uh, you know,
from a standpoint of somebody building a business with, you know,
two to three people, um,
having these agents have core parts of what I was doing was really impactful.
Um, and I mean,
really kind of was doing work
that at least one or two full-time people
would have done for us.
This is where I was going to go with it.
It sounds like a lot.
Like, holy cow, you're paying $600 a month
for one AI subscription.
But the reality is you couldn't hire a single employee,
let alone multiples for $600 a month
to do what they were doing for you on the work standpoint.
What we were doing with them is like,
I'm easily a full-time employee, easily one, maybe two.
Yeah, pretty incredible.
I still, and you have better understanding of having used it for you,
because I literally, since you said that, I just now downloaded Codex.
I was familiar with it.
I use ChatGPT and Clawed. I use Cowork. I did not go down the OpenClaw route. I did actually this past weekend, even despite these recent changes, I was at Costco and I saw their deals
on Mac Mini. I was like, maybe I should just go and buy one just to F around with.
Just to F around with.
Looking forward, a little bit forward thinking, I have two questions for you.
I know we're running a little long here, so we will get you out of here.
I appreciate your time this morning.
I'm really, truly excited to run back this segment.
First question, how do you see the models evolving?
Do you think from a consumer standpoint, we probably stay at or similar to a $20 and a $200 model, maybe that goes up or down a little bit, but from a consumer standpoint,
you probably have two ish tiers in that range. And then enterprise pricing gets different.
Like how, or do you think like, how do you see like the, really on the enterprise side,
the commercial side? I kind of hope it stays that way because I'm, i'm kind of sort of fearful of like man once you once you like
put these agents together and you're actually running them for meaningful things that you're
doing whether it's your personal life or business it's like god i would pay anything
i i would pay i'd pay five times what I'm paying now probably.
And that's kind of scary because, you know, you are,
I would say most people are not running local models,
meaning like they're not using Kimi K2 downloaded on their,
you know, Mac studio.
They're running these things, the harnesses through the major labs, whether it's their auth
or their API, right? So you're reliant
on them in some ways, I would say for the average person.
And it's like, I would pay five times what I'm paying now.
And so I hope it stays at these types of
tiers until you get to a bigger enterprise tier.
But I could totally see the Netflix subscription creep happening
where it's like, oh, every six months I can go up $100, right?
And of course I'm going to pay it because I can't live without Netflix.
I can't live without Klon, right?
But even more so. It can't live without Claude.
But even more so, it's like a whole other scale.
Like I actually, for the first time ever,
I've thought about canceling my Netflix because I just don't,
like do I watch every once in a while?
Yeah.
But if I think like, well, I watch Amazon Prime far more and now I do pay for HBO Max and Apple TV,
a few other subs there,
but I use it far more than I use Netflix.
I'm like, does it really justify 30 bucks a month now?
I don't know if it does.
I don't like- So they'll wait till there's all these switching costs
built in, like memory of all your chats
and all this kind of stuff.
And like, there will be real switching costs for you
at some point on these types of things.
So I hope it stays this way.
I think it'll be this way
for a while. I think they'll, you know, I think they make quite a bit on their API usage, which,
you know, again, like, I think that's why I don't blame Anthropic for doing what they're doing.
Like they have to make money. But yeah, I hope it stays this way.
It's also why I feel the competition is so important because that's the only hope we
have to keeping the subscription prices reasonable, right? Like if it was just OpenAI, it was just
the Anthropic.
We're also glad they hate each other.
Yeah. Otherwise these things, like that $200 would go to 2K. And if you're locked in, what
are you going to do? Like you just got to keep paying it and they know it. Whereas now it's
like, at least you have the option. And I think that,
I mean, we haven't even mentioned Gemini. Like Gemini is super impressive, not just like Nano
Banana and the image generation stuff. Like the fact that it's built into the Google suite is,
it's the other one I use, but I don't even, I use it probably daily, but I don't even like,
I don't even think about that I'm using it because it just works. It's just better UI because they're tapping into that LLM.
And I think that having so many major competitors really benefits us as the consumer.
I mean, today, a lot of opt-in are subsidizing this usage, subsidizing the cost.
And I'm hopeful that it does keep prices attainable or realistic as things move forward.
Because if not, I'm just going to switch and I'm going to go to the other one.
Speaking of going to the other one, go ahead.
From a model standpoint, though, I think we're pretty close to what both Anthropic and OpenAI are hinting at as even a next step up, which is kind of crazy to think about.
There was a leak in some anthropic documents last week and over the weekend of like the
cloud code stuff, but there was new models mentioned called Mythos, which is apparently
like a step up from Opus, which is going to be crazy. And then I think I heard also,
or I was reading that OpenAI has kind of a new model
being ready to be put out soon as well
that they're referring to as a step up.
Like when we talked on this,
I mean, I remember when it came out,
OpenAI put out their like five steps to,
five levels to get to AGI, right? And we were at level one at
the time where I just graduated, which was like chatbots. And we were kind of moving into,
you know, the agents and four and five levels were innovators and organization and i think we're like in that level four place now and i think we're like
maybe maybe six months to a year away from like the first time we're really thinking about oh
these things can run organizations in in ways in some you know very simple ways like not we're not talking Fortune 500 organizations but
like a single person
running a business
using these things reliably
right so I
mean you know we've had these
conversations now for 18 months and it feels
like we're kind of finally
to the part we all thought we were
going to be at and I
think the timeline is even faster than we thought
when we were talking about it there,
which is kind of crazy.
I think so as well.
I got Andreessen's post pulled up here
who just last night says,
I'm calling it AGI is already here.
It's just not evenly distributed yet.
Thoughts on that?
I think he's probably right.
With these newer models that are about to drop,
I think are going to feel even more like it than you already do.
But I think anybody who's actually using these things usefully
probably feels like that.
And that's not to say they all work perfectly, right?
If you've ever set up an open claw,
you probably know the pain of setting up your open
claw right like it is not this like uh turn it on and everything is sunshine and and rainbows it's
actually very hard it's a lot of work it's a lot of uh iterative patience back and forth but like
when it's doing the thing it's supposed to do you you're like, oh, holy shit, the world is going to change.
And so, I mean, we're just right on the start of all that.
And so I definitely agree with that tweet.
Remember, these labs also have models that are six to 12 months ahead
of what we're seeing now, right?
What we're seeing now has already passed all their, you know,
safety checks and red teaming and all of that kind of stuff.
And meanwhile,
there's full speed ahead training the next five, 10 iterations of this stuff.
You know what I mean?
Yeah. I, it's a silly example, but it hit me recently. I'm like,
not that I said, Oh, this is AGI, but like the level of awareness and memory has gotten so much better. Like in the last six
months, like light years better than where it was to where before I'd almost have to go back
into the exact same chat. If I wanted it to remember something and remember some context
or something. Whereas last week I was asking it about, there was some research article about 20 grams of creatine a day or in one serving will improve your brain processing by 25% if you're
short on sleep. So like if you didn't get good night's sleep, wake up, throw back 20 grams of
creatine and it'll, and I asked, I was talking to Claude about it and just going back and forth
or some side effects. And it actually brought up, he's like, well, also keep in mind with your daily morning routine with
Coffee with Captain, and it started talking about the impacts of creatine combined with coffee can
have, just being smart enough to realize, well, if I host a show called Coffee with Captain,
I'd probably consume a lot of coffee in the morning. And like, I never told it that. Like,
it does my daily brief, but I don't say like, Oh yeah, I throw back a pot of coffee while I'm hosting the show. But it was smart enough when
it was talking about something completely unrelated to, to coffee or my daily routine,
it was smart enough to realize, Oh, this guy probably does consume a lot of coffee every
morning and connect those two dots. Like I was just like a, again, I know it's a silly example,
but it was like a, it was one of those moments to just like maybe step backwards.
Like, wait a second.
Like, how does it know this?
Yeah.
I think like, to your point about the memory, it's way better than it was.
It's still probably like the large, like one of the biggest frontiers to conquer to like really feel like AGI.
I think it's that.
I think it's like self-improvement, which is,
you know, kind of always being worked on. And I like context windows, like that changes everything
in terms of how long you can have the same chat. And like, even the way they've done,
like compacting and stuff like that, since the last time we spoke, it just feels like, um, you know, a really powerful change.
And that's, but that's also what I'm talking about, like the switching costs, right? Like if
you, you put all your information or you have these meaningful conversations with Claude,
it's going to feel harder for you to go swap to chat GBT and feel like you're starting over.
Do you know what I mean? Yep, yep.
Last question for you.
And if there's anything else you wanted to share,
by all means, feel free to do so.
But I appreciate your time.
Sorry for keeping you along today.
I think one of the things I like that ChatGPT has evolved and made better
is the models.
Like it's just, at least in the dropdown,
it's like I said, I just downloaded Codex.
So if I want to,
I'll do some playing around with that later.
But like from a instant for everything chats,
thinking for complex questions,
it's no longer like here's seven different models
and choose one that's supposed to work best for you.
I guess more specific as far as the question goes,
as it relates to Claude, do you, like,
I've never even used Haiku.
I just use Opus or Sonnet.
And I don't really have any rhyme or reason.
I know Opus is more ambitious work
and Sonnet is more efficient, faster,
going to use less tokens.
But that's really the extent of it.
So if it's a basic question or task,
I might use Sonnet.
How are you, for the layman,
for those that aren't deep,
is there any advice when you're coming to choosing models,
whether it's, hey, use OpenAI for this,
or use ChatGP for this, use Cloud for this,
or even the models within, say, Cloud,
how do you determine when do you use Opus for Sonnet
or use Co-Work?
Is there a best practice there or an easy-to-know,
oh, you should use this model for that or this one for that?
Yeah, I think about it as tiers of the problem I'm trying to solve.
If I'm actually throwing something really complex and difficult at it,
like if I'm starting a big project that's going to need code or systems built
or some deep planning and things like that,
I'll start and basically finish with Opus.
And then if it's something I have to execute on after that,
I might even switch it to Sonnet for the execution
from a cost standpoint.
And then I think of Sonnet as like your daily driver chat gpt like
uh things i want to have a conversation or google and and then and it can execute really well but i
i think of like opus as kind of like the orchestrator it's better at stuff like that um
than sonnet is and then I actually think it's even better
at things like that than the ChatGBT models are.
So I'll write plans and stuff with Opus
that I'll take to Codex, if that makes sense.
It does.
And the one thing, like my actionable takeaway there
is I don't think yet I've switched within a project,
going like start at Opus and then switch
after it like solves the basic,
then switch to Sonnet once it's got the,
like the baseline solved or,
you know,
laid a little bit of a foundation.
That's something I will,
will probably incorporate it.
All that said,
I really don't like,
there's been a few days I've run up against my daily limit,
but I'm not hitting,
I'm not hitting the usage issues or restrictions like you are. And that's the other time I'll switch to is if I, you know, if I hit a daily limit, but I'm not hitting the usage issues or restrictions like you are. And that's the other
time I'll switch too, is if I hit a daily limit, I just go to the other one. And so far, the two
subs has been, there hasn't been a day where one of them, I've used them both. Yeah. So like an
example for you is like, all right, you're going to start a DFS project in which you're going to
build a pipeline and pull in a bunch of data and analyze it every day.
It's like, okay, I would use Opus for the planning and building
of the pipeline. And then once you're at a spot where it's like,
okay, what's the daily execution? You could switch to
Sonnet and it would be plenty for what you would
need for that.
Makes a lot of sense. Yep. No, it makes a ton of sense. Um, truly looking forward to this segment,
but I appreciate you. Anything we wanted to share today or anything you thought we might get into
that you'd have a chance to talk about yet? No, I'm excited. These are, I will keep, uh,
I think Monday's at nine 30 ish going to be good for me. So I'll, I'll be here as many as I can.
Awesome. Nope. Looking forward to it. And, um, good without saying if there's also anyone that you'd like to join us or, uh, you
know, fill in someday we're, uh, we're, we're open to any at all. And, uh, yeah, pain, pain is
pain's working on a new jingle, but I told him, I get no, no rush. People love the, people love
the fire brain jingle. So we'll run it until we, uh, the clip, uh, the beard. I haven't had a beard like that in quite a while.
You look good.
You look good.
Yeah.
I had,
I had hair last time we spoke too.
I'm all bald now.
Amazing.
Yeah.
But anyway,
all right.
Thanks for having me guys.
I'm looking forward to it.
I'll see you next week.
Appreciate it.
Have a great week and everyone else.
Appreciate you tuning in today.
Really enjoyed the show.
Enjoyed this week in AI with Bunch.
Enjoyed NFTs being back
and a lively conversation around
real utility and what
the next cycle may look like.
As we said throughout the show, it's going to be very
different than the first NFT cycle.
Not just from a floor
price, but from
a lot more substance, I think is what excites me.
A, not just substance in the sense of clubhouses and real utility, whether it's AI agents baked into these things or otherwise.
But in the beginning, in the first cycle, these communities were being formed.
Now, a lot of these communities have been around for years and those that are still here and those that have vibrant communities,
there is this baseline to build from. Even something as simple as the membership
directive we talked about earlier, well, could it have been functionally the same thing in 21,
22? Yeah, but you just don't have those relationships. You
don't, you don't know who these people are. You don't even know where necessarily to start.
You know, you didn't have the regional clubs per se. And again, this isn't saying some new
entrance can't come in and, and have an impact as well. They can, and they are, we're seeing it.
I just think that even for those, the ability for the new brands to come in and make an impact, have something of substance from launch is very real, partially because the tech is light years ahead of where it was five years ago.
Someone earlier mentioned gas fees being way down.
And what you can do with these assets is so much.
Now, the OG assets, a lot of them are, you still can put them against them.
You can still unlock utilities, features, benefits that whether it just minted in 26 or minted in
2021, it's just, there's a lot more at the disposal of the founders, the teams, those that
are leading these projects. And it's part of what gets me most excited is I
feel that experimentation is back. And that's one of the things that excited me. It was the people
and the experimentation almost always being something new, not just because I have something
new to talk about, but as an active participant. So it's exciting to see, okay, I can do a lot more with this PFP than just rock it as a PFP or, I don't know, stake it for some token drip or hold on to it and maybe get a token drop to me someday.
Cool for speculation, cool for bags maybe, but we're at the cutting edge of tech here, both blockchain tech, AI tech, financial tech.
Like, let's bring those together and really start utilizing the tech.
And I think we're starting to see it from the physical world,
you know, the clubhouses.
It's not just the clubhouse.
I think we'll see more NFTs used as access, lifetime membership.
What does that mean?
What does a lifetime membership of a club mean? Just Discord access?
Well, I'm into hundreds of Discords and I don't pay for any of them.
It's just unlocking so much more in the physical realm and then leaning
into the technology like we've seen here recently, used the examples of PixelPups
and Normies. More of that, I think, is
good for NFTs. It's good for the space at large.
And I think what else is very different is
I think you could see floor prices run up
without the volume.
And I think that's where a lot of people
I think I'll disagree with is some will say,
oh, you got to have volume.
You don't want to protect royalties
because that'll eliminate your traders.
You need volume to get your attention to pop. I adamantly disagree.
I don't think you need a lot of volume. In fact, I think a lot of these collections, a lot of these
NFT, PFP native brands, they're better off to have less volume. And the only time one sells
is when a new member is joining the club, not just someone speculating on, oh, the floor price might go up and I could flip this thing for 0.03 ETH next week. I don't think that's necessary. And I think you have a member that
joins a club so they want access to the clubhouse and maybe they use it, they make some connections.
And then 18 months later, they're moving out of Miami and they decide to sell the thing and
recoup their
investment. That's exciting. And those kinds of transactions are good, healthy, bringing in new
members, new people to network with, et cetera. I think that's far healthier than, no offense to
the Franklins of the world, but the buying for 0.99 ETH and flipping next week for 1.03 ETH is
one thing. When people were doing that just to farm
points for a marketplace or worse, they buy it for 0.99 and then they dump it the next day into
bids for 0.96, that proved to have a negative impact, not just for floors, for collections,
for momentum, for communities. And I feel, knock on wood, I feel as if we're out of that realm.
And yeah, bottom is in. Again, thanks for
joining us today. We'll be back tomorrow, 8 a.m. Eastern time, like always. Appreciate y'all being
here. Thanks so much. Love the conversation today. Love the stage. A lot of legends joined us. I
appreciate all of you for adding to the conversation, whether you joined us on stage or you joined us
in the chat. I did pin one of Bunchu's posts up top. If you're not following our guy Bunchu,
you're missing out. Truly one of the biggest brains that's building at the intersection of crypto and AI
and doing some really incredible stuff with Billy Betts.
Go give Bunchu a follow and give him some love for his time with us today.
But with that note, hope you all have a wonderful, wonderful day.
We'll see you tomorrow Bye.
