Alright, gm, yeah, it's gotta be morning for somebody out there right now, right?
Like I'm sure there's at least one listener that is waking up
Over in Asia somewhere right now that appreciates me saying GM because otherwise they operate on the Western time schedule
So you were welcome GM to you
Welcome back. We're gonna run it another night had enough fun last night. Why not? Let's go ahead and
Get this rolling. So give me just a second. I'm going to bring up a few people we're gonna bring up
The man the myth the legend himself mr. Crypto rooster
One of the best co-hosts out there
If you would like to speak and join the stage with us, feel free to hit that request button
I'll bring you guys up here with us here in just a second
Um, but yeah, no, it's been another fun day in the NFT space fun to see pudgy's running it up to nearly 20
And just some of the buzz that really has been generating on that side of things
Where the rest of the market there's just a completely different energy when you're looking at the red candles that we've seen for the past
On the Bitcoin chart with eth
With soul being down a good amount from its highs
You know same with a bunch of these other l1s you're seeing bleeding across the board, but you're seeing a lot of
strength rotate back into these
NFT projects that are lifting across the board. So the question really becomes and what I want to discuss tonight is
Where are we at that face? You know, it's just another dead cat bounce. There's something that's going to last for a little bit fade away
How sustainable is it? What do we have to look forward to moving forward from here? So mr. Rooster
How are you doing this evening? Oh
What's poppin was poppin Claire doing well, sir. How are you? No, I can't complain man
I'm about to watch a little bit of basketball. Let's sit back and
Still doing a little bit. Did you know the funny thing how I last night
When we were running this I was like, all right, I gotta end the space
So that I actually get up and do a little bit of cleaning for I didn't start cleaning until 6 a.m
See we we notice you're working hard though last night
I don't even remember you like it kind of blurs together. I don't know if you're you know
Make it a joke or not, but one way or the other
Now wasn't even joking dude woke up and
Stonks were 2x from when we went to bed from when we ended the space. I will say I mean, hey
Stonks across the board over the past 24 hours highest gaining collection
percentage-wise out of any NFT collection, so
You know again, I look at it and I'm like
What we were talking about last night where a rising tide lifts all boats and right now the tide of the market really is
What's happening with pudgies where you know, it's like whenever bitcoins bullish, right?
When bitcoins bullish it bleeds down to the rest of the coins you get more stimulus that's flowing in more capital
It's flowing into the market people are looking for some plays that have opportunities a higher beta plays, right?
and you know, like I think it's just one of those things where
Stonks also, I feel like it was a little bit of an unfair pump as far as the percentage-wise game
You know if you know what I'm saying because they were it was a major wickdown
basically just got eaten up right like
So it was it was basically just a bunch of supply that had been dumped by that third largest holder
It was completely absorbed
But I mean, I love that man
Like again, that's one of the whole things that I find beautiful about these spaces people talk about the fact man
There's not liquidity and you know, if something like that happens a project will die off
I mean, yeah, maybe if your project sucks, it'll die off
But if you have a real organic community and organic demand like, you know, it's not a big deal
It just provides opportunity for people
Yeah, honestly great opportunity
Speaking about pudgies. I see we got peepee up here. What's going on peepee? What's going on fam?
Doing good. I'm just getting kids ready for bed. But having a fun past couple of days
I know longtime pudgy holder and it's good to see the huddle win
Cleo said, you know, you have this rising tide and I kind of think of NFT is the same way
There's like last cycle you had the apes who were like people would look to them once they start pumping everything with Ron
With us moving so much deer in the bear
It's it's been kind of fun to see other projects
You know, I tweeted about this other day, you know, the blast unlocks
February, right so I think what you're starting to see now is
You're starting to see like almost like a
I think you're starting to see a front run of those funds in the NFT space
People are getting confident with
With funds and so I think you're gonna see a lot more of that before that blast unlock happens. Just my opinion. I
Just want to know peepee, how are you feeling right now because I like
already when I ran into you in
You were you were living on a cloud right at that point time already. It was a dream, you know, so what is it?
Two or shoot like we're wrong. We're good
June will be three years for no July will be three years for pudgy penguins like after they've been and so three years of
constant like conviction on an
asset come into fruition. It's pretty gratifying honestly and
You know everybody was feeling at the Basel party
And that was I don't even remember what our floor price was
I've gotten to the point where I just like I'm not selling my penguins anytime soon. So I really don't care about floor
It's all about making sure people are having a good time and the vibes
I think that's probably why you see a student so well
Okay, so I've got to know though again, I like
is the conversation with your wife with your family with your friends right now as far as
What they've been through where you are with?
Your big game I have right. Yeah, I have two sets of friends. I have one set of friends that listen to me
When penguins were like an e and I also have another set of friends who called me insane
and both of those sets of friends are now like
Holy crap, either you're like, thank you or I should have listened and I mean it's I don't know it's fun, dude
Love that man. And you know why I'm asking all this right because
Realistically everybody sees the project that's winning right now
They see the pudgy penguins and they're like man, that is the dream. That's the hope for my bag, right?
To have that conviction that paid off over a long period of time that finally caught traction
It started moving forward
So, you know, I think to get there
Obviously, you know, it takes something special for that to happen
But in the meantime, even if you have something special cooking right like it doesn't happen overnight
Like that's kind of where I'm getting at with this is it's about casting that vision for people that are in here
And like I've had plenty of these conversations with you, right?
You know, there's probably some people in here that see you up here might be their first time introduced to you
What was it about the penguins that was different where you were like man, you know in the depths of some of those sell-offs
You saw you're like this is gonna survive. This is gonna last and I believe it, right? Yeah
I think probably my my highest moment of conviction when I'm holding penguins
because honestly all you have to do is like look at the penguin and you realize like why how in the
Like god-awful hell could you be mad about something that looks like this? And it's it's one of those things where I think
Out of every community. I think our community like all the communities that went through
I think our community handles fud the best like we meme the fudders
We talk about the coke and the seeds and it's just become part of the culture to like
The cringe of like calling these things a rug calling them, you know, you know ugly because look at them
but it's just been a lot of fun over the past two years, especially like with our previous founders like
Like they did all they could to bring us down
But like the community didn't care and it was at that moment in time where we were like now like we know we have this
The penguins the penguins
Where you know, it's crazy I've been in a bar show so long that I forgot I didn't have a penguin
Rarely visit a box of chat
Work is I'm so busy with penguins but like hopping in that chat every now and like there's so many people who?
Have become penguins that had no exposure to them through that channel
So it's been pretty cool to see
Yeah, I got a few got a few new show today as well happy to see see a couple of them in the crowd
Yeah, man, I like I bet a boss show does gain a bit more traction
It's one of those things where you look at like when you look at something like pudgies
like honestly one of the easiest things that I think that you can look back and do is and
Obviously, this isn't a guaranteed whatever but you want to know what's happening. You can do the research yourself
Look back to what was happening like last December January
Whenever pudgies kind of had that first little pump
and I don't want to say first little pump, but the last little pump might be the best way of saying it and
You know kind of what was happening with the market dynamics there. I think
Some of that will translate not all of it
But I think there is some of that like, you know
Obviously an alpha group with some of the biggest pudgy holders in it is something that I think can potentially translate
But PP I put up that pinch week because what you said with your two types of friends reminds me exactly of that text message
But I sent my buddy. I got left on red, bro
I didn't even get her applied back from this guy the direct thing that I told him
That is that bitcoins time to rise again, or and this is July of 22
Or just a blip of rise along with the market and like at this point
Penguins were still I think one point six maybe one point seven
And I was like honestly man. I think anywhere the 20k range is a good time to buy which again good advice
It's bouncing with the market and I think what you know, blah blah blah
What you should look into buying is the pudgy penguin with aetherium or little pudgies
They're an FT project that I think has a good chance of seeing a decent return over the next year and little pudgies back
Then we're like point one one or point one two
When you tell them about anything that's NFT related right you get left on red though, like you're not taking seriously
Yeah, and I think that's one of the things that we've really tried to do on throughout this bear market is
The North Star for normies who like either hated NFTs or just didn't understand them
with our Instagram our toys or
Tiktok like really everything like Giffy
Like one of the main things I heard at Comic Con
one of the main things I heard at Comic Con was oh my gosh like my
My boss uses your gifts. I can't believe you guys are here like this is awesome
Like nobody ever came up and said all of your NFTs. It was like and like it's just crazy to me
That it feels I could be wrong cuz I'm like, you know penguin maxi
it feels like we're the only ones that are really really trying to tap into that outside of our little web 3 bubble because it's
Really trying to tap into the normies and make them fall in love with the penguin
So I think that's really played a huge role and to where we got how we got here. I
Love to see it man, you know, congratulations on the conviction paying off
I am curious though. Okay, so now, you know, you're here
You said you're not planning on, you know taking anything off the board with the pingus. I was gonna ask
You know, what is your plan as far as what are you like? Are you still just basically in park mode or are you doing anything?
Looking for other areas of the NFT market kind of what's what's your game plan right now?
For the spot that we're in right now
Dude, honestly when I first started trading crypto, like I would always just try to
Get as much Bitcoin as I can and like over the past year and a half as crazy as sounds is like
Most of the profit I would get I was just like trickle into penguins
And so I've been trying to get more penguins and I you like I don't know
It's just been like I'm obsessed with them
But I'm not I don't I wouldn't say I'm in park mode. I'm actively like watching the market and
Looking for plays, but honestly, I'm
This is not financial advice at all
But like I'm scared to move my penguins around because
2024 seems like the year of the airdrop and
dropping shit the penguins dude, so
Because you think about it like most of like the the hardcore builders in the space
Absolutely. Love the penguins. You have Alex from Nancy and you have Brian Pellegrino from layer zero
You have the dimension chat to just drop dimension to penguins
Like everywhere you look in the space odds are somebody on their team like so many people in the coin gecko team are penguins
Everywhere you look there's gonna be at least one or two penguins on the team's working in the space
It's just one of those things where like I'm scared to move them because if 2024 is the year the airdrop
I want to have my penguins in my wallet go. Yeah, I
Feel that man, I feel that
So I I think you're doing like now
It's not the time to necessarily shift away from a thesis though
I will say this you know if you're somebody out there, and you've got a little bit of room to
You know where you need the money right and you've been
Basically parking more than you really can afford to park in a project, and you have a big win like this
I don't think it's a bad idea if you've got excess some type of
Fractional ization right say you've got like 10 littles, and you're like man
I need XYZ for whatever reason and I've really been pushing myself by keeping too much part dude
This is where you like I think you sell a little bit and take that money off the board
And maybe you'll get lucky you'll get a dip, but don't plan on it
You know but like at a certain point in life one thing that I've learned is when you get big wins like this
You know don't be afraid to take a little bit if you have to be able
You know if you need it somewhere else right do not force yourself to not do anything with it
But on top of that though if you don't have to
Like I don't think there's any reason to necessarily rotate out right because we're still so early
This is happening in a bear market
You've got the opportunity moving forward like if this is happening in the bear market
What do you think's gonna happen in the bull market like I know that's such an easy question
It should be intuitive and I've always been one of the one people's like if you can find a winner in the bear market
Stick with it during the bull so that's that's kind of why I've been just like really trying to get his main pingos
I can but glad I got a question for you. This is your first time going to like an IRL penguin event
That was in Miami. What did you think?
Dude I mean, I'll be honest. It was bittersweet. I loved it
but you know, it was one of those things to where
Like I love seeing the success and I love seeing everybody there but then at the same time man like
the conversation of being there in person
especially with like the history that I have with the penguins of really, you know believing backing in it and
it's tough from the perspective of
Talking through that in every single conversation
Like if that makes any sense at all and so, you know, don't be mean and it was one of those things were
You know, whatever the situation is it is what it is, right?
Like and I accepted I think that's one of the things in crypto that you have to be able to do
right, they're gonna be things that you absolutely believe in and
situations that force you out of it for one reason or another and
You can either sit there and you can be salty about it for whatever or I mean you celebrate it with the community and like I
Loved seeing it from that perspective
But again the difficult thing
Dude, they're like there were several guys that were like, oh, you know
Like you're you were there like that rugger and I'm like, oh, yeah
I like funny joke man, like you roll with it, but it's still
It sits there in your mind and like it eats away at you a little bit because it's like this, you know
You want to be there appreciating it you do
But I'll say this the energy was electric and like I definitely think it's one of those things where you
you know that type of energy in the midst of
The midst of again where we are right now at the bear market where there's not
You know, like there hasn't been a ton else
Happening right now with the NFT landscape
And I say that at least on the east side of things, right?
So it was really really cool
just seeing the fruit of the labor from what the community had put in through that time and just seeing where they are right now and
The conviction of saying man, like this has a long runway in front of it
Yeah, no, I'd love to have any there
you know, you know spaces with your past feels like two years just
Finally meeting in person. It was it's pretty surreal man. It's like, oh shit. Finally. Glee
No, I love being there man, so
But you know again like I go back to it where when you meet a lot of the people you've talked to just over the
Years and you connect with them, you know
I think it's just something special about that right because you know you putting name to faces or faces to names
It just shows you that there's a greater reality behind
Whatever is happening on here, right?
Like as real as just talking to somebody over this is and as real as the financial
transactions that are happening between people are
There's still something that just does not you know, cannot be replicated from the in real life
Connection you get actually seeing and actually meeting people
So it was like, you know when I when I was dating my ex and
In 2021 and everything was really taking off and I got talked into going to the Bitcoin conference in Miami
Like she still wasn't really sold that any of this was real yet
She ended up showing up and she was like, holy crap
Do you like I would walk off and she'd be like, do you realize like, you know
I'd sit there and like those guys there
They were all whispering and like looking and pointing at you and I'm like, what do you mean?
Because for me like it wasn't real the situation either, you know, like I'm just a normal dude
like that's all I am anywhere, but
You know, you've got this name and persona
Completely different. So anyway, like the point being of all this it's worth it to go out there. It's worth it to meet people
It's worth it to experience all that and like you guys did it, right?
It's one of the reasons I chose my name by the way
just because like either people like when I introduce myself as peepee someone's gonna instantly get it and or
You're gonna have someone just be like wait
So it's it's it's it's fun dude and dude I have this whole thesis too about NFTs that
Really before NFTs there was never because you have five senses, right?
one of your five senses is a sight and so before NFTs like coins and
friggin stocks even have never had the sense of sight as a
price action and dude like NFTs have brought a new sense a human sense into
Trading and it's it's it's before blur
I would say there were more non fungible because people would you know
Buy over the floor on stuff they like and I think you're starting to see that
Return instead of just buying floors. You saw it a lot with this recent
Pudgy run-up like as the floor was rising you saw people buying well above the floor to
Accumulate the penguins they like even if they weren't rare. And so I think sight has brought a
That's why one of the reasons I'm incredibly bullish on NFTs and it they it's almost like holders have
There is much more sticking power than a coin because to me
It seems harder to sell something that you love looking at versus a coin with no, you know
identity it makes them seem loud like lame as shit, but
Something I've thought about for a past couple years in NFTs, dude
It also feels way better when your NFTs are pumping than when your coins are pumping at least for me
Like I get way more euphoric even smaller pumps, right?
Like you could hit a 10x, you know on a coin and it won't feel as good as a 3x on NFT
Easier to mean with them to see mongo down. I'm on is part of the pudgy team as well
It's incredible memer. Wait, was it the manga? I was gonna say that wasn't the Mongo that I just removed from the stage
I saw the name Mongo and I just immediately bring
But I think bring up manga with the rice that trying to talk so seppy what's going on welcome up?
Hey guys, I was just gonna say I totally agree that like NFTs are like the new
Way of it, you know interacting with like I would he was saying about sight
And I also think that the communities are better in the NFTs
Whereas coin communities the coin community is all about getting that coin to pump
There's nothing else. It's just how can we get this coin to pump and like unload our bags onto somebody else?
Whereas NFT communities it's there's more of like a secondary and tertiary thing going on where it's like
How can we actually build a community here? Let's do sports bets. Let's give up if you're a bosh. Oh, you cannot free snacks
Stuff like that, you know and create like an actual community to meet up seen I mean
I'm gonna be going to Florida anybody lives in, Florida. We're gonna meet up and hunt giant snakes and stuff do cool stuff, you know, whatever
Yeah, I mean I agree like the site aspect does add something and PP
I was actually funny you bring that up. We were talking about the different
Senses tied to NFTs last night because we had Owen up on stage
Talking about music NFTs and I was like, man, you know, I'll tell you the only other thing
If they can figure it out if they had some type of scent
Associated to NFTs if somebody could figure that out like, you know, I would imagine just
You would see goblin town drop or
Have like these fresh bake warm chocolate chip cookies straight out of the oven like and that's an NFT
Bro, I would buy that and then you know, you could also I mean on Solana just imagine how much
Absolute pure shit would be dropped in your wallet. Literally, you know, it would it'd be tough
With the with the zero fees you just open it up and be like, oh, yeah, you don't know what you're going to get
And I don't know like it'd be a whole nother dimension to the game
I'm just surprised we haven't mastered
Sharing scent yet, but one day one day. There was actually a it's funny bring that there's a
Kickstarter back back in the day. It's called like feel real or something
I don't know if you guys remember that but it was a thing that you would attach to your VR headset
And it would interact with the games while you're playing
So like it would basically pump out sense while you're playing but the FDA like
Like blacklisted on because it's basically pumping out like vape smoke into your face as you were like playing games
I still wanted it. I didn't care
Man, you know that kind of reminds me of you remember like a couple years back where I was
I mean, it wasn't even a couple years back
It was like a year and a half ago, whatever when I was doing some of these late-night streams and whatever else
I was on my face where I was taking a Delta a gummy every single night and like I
Don't know man those conversations got a little bit interesting
I I'm glad I've stopped, you know, primarily for the reason that my weight. Thanks me
I'm on two at night right now. Kaleo
You're on you're on two gummies the night normally
Okay, I mean again I was at the point where I was taking one and I could not control my diet
Second lunches. Oh, I'd get fourth meal every single day when I dab one basically
I just every time before I the gummy had to be like
All right, you know, it almost just became this ritual where I'm like
What am I gonna order on uber eats tonight? I'd be spending like 50 bucks a night on uber eats
Just you know getting myself blowing myself up into a pudgy penguin. So double bearish
You know, like it's cool to own a pudgy penguin. It's not cool to become a pudgy penguin
Yeah, Jeebus had a funny tweet earlier today's like
There's a lot of people in crypto that are fat
I think that's one reason pudgy penguins do really well
Yeah, man, so that's that's one of my goals I've actually been going pretty hard on a diet the past
Week, which I know that doesn't sound like a long time, but it feels like an eternity to me right now
So you've been talking about all this like it's slowly getting a little bit better as far as like, you know
Saying no to the cravings whatever else. But what's tough is watching sports where you're just
Constantly attacked with these like you don't realize it when you're not trying to fight it
But when you're trying to fight it and you realize how much you know
We are just attacked by these ads of food and whatever else that are out there and they are just happening
You're like, dude, I need this
You don't realize you need it until you can't have it
You know, I'm realizing I am on a complete tangent right now
Probably because I'm half starved to death of not having a pizza and like it's all I can think about right now
So, you know, thank God actually that scent is not on the blockchain
In a bad position. Um, okay. I am going real quick. We're gonna do a quick a
Quick room reset and you guys are going to do something for me. I
NFTs are back the thing for the space. I need you guys to like that retweet that drop a comment get more people in here
And yeah, you know, like I'm enjoying the conversation but always enjoy having more people in here as well
Yeah, man on the topic. I think again, like I said yesterday for some people they are most
The people who are winning still in trading
That I know of are planning on rotating most of their profits into pretty much, you know more penguins
Mad lads and a couple other blue chip NFTs
But it seems to be the consensus that most of these people are gonna be rotating all their meme coin profits and shit all their
You know dimmy checks, you know, all the other airdrops that are coming out back into you know
The NFTs that have been performing. Well
Yeah, I'm 100% on that boat as well recently, I think yeah, I mentioned it earlier but the blast unlocks that happen in February
I think what you're seeing now, like there's so much ETH that's about to be unlocked. I think what we're seeing now
It's like 850 million dollars of ETH right now. It's that's NFT money, too
That's yeah, it's money taken from the NFT market put directly into a holding sale until the end of February, but I think
You're almost seeing some sort of front-running because I think a lot of NFT
Traders are like damn like there's that's gonna be a lot of money unlocked. I don't want to miss
Whatever happens when that you know is unlocked. So
See a little bit of front-run. So it's gonna be interesting when that day comes
I was trying to buy up all the boshos to meet gonna help people and then everybody started a front-running
Should have been in the wonky stonks chat, man
I dropped it in the Citadel for them earlier this morning and I was like a boshos are too cheap right now
So the boss shows that happen to eat. They're free for whoever, you know has some spare change
Yes, so many penguins and I it's by the way, it's so funny like any space you join I see some bears as well
But it's so funny like they just roll in for so see mace down there and manga
Wonder if stonks dipped into depth charts by zone again. I see I'm down there in the audience. I
The the man the myth the legend himself will have to come up. Maybe he'll come up and join us for week 100
tomorrow of the the weekly
You got to do it dev tomorrow, that's crazy though dude a hundred weeks
100 straight weeks who else has done that? I mean probably a couple people but I mean I there probably are a couple people out there
Right. Like I I just can't think of many
Many at all from a project specifically that have done a hundred straight weeks of spaces
At least not like founder spaces
Right like maybe community spaces, but at the very least not founder spaces
But I think it's special man, so I'm excited to celebrate it, you know
If you guys are in here tomorrow at 12 Eastern time, we're gonna have that space as well. So
Make sure to be able to look out for that. I'll pin it up there and you guys should check it out and join
but I mean like I I'm just excited right now in general because it finally feels like
You go through this space and you tell people I think right now the NFT market is still you know
Are we back necessarily? No, not I don't think the NFT market is necessarily back per se, right?
Because we like there's still no real volume
We're seeing what strength does
To a strong collection with pudgies and we're seeing again that rising tide starting to lift some of the ships
but like it or some of the other projects with it, but
There's still not real volume right now in the space, you know, like
The stomps yesterday when they had their move
With the 2x it was like 20th that drove it with a 2x and I think another 20th will basically 2x it again
So when you look at a floor for a project
Floors are very deceptive and that's one of the things that's really interesting about the NFT space in general
It operates with a completely different dynamic than alt coins, right?
Where people talk about the lack of liquidity the whatever else and it's because people when you collect
Something with NFTs, it's not supposed to be fractionalized, right?
You were adding to something that you have passion about for one reason or another
You know, like imagine buying a painting for your house and trying to fractionalize it and saying oh
You know, like I bought this painting from whatever artists and I can't just dump it immediately
Go to the local pawn shop and get what I want for it. Well, of course you can't
Right, like you'll be able to get something at a pawn shop
I'm sure they'll offer you something but it's gonna be a fraction of what the real value is for somebody else that's out there
That actually appreciates the art and cares about it. So I think it's the same thing right now with the NFT collections, right?
there aren't you know, the listings are few and
Eventually the demand will be many right? It's that simple. So if you just have the conviction and can see it through
We're going to get a put get to a place for what we're seeing right now
Like it's still really early
You just gave the funniest
Some NFT em ever go into like a set of the bees auction buying a piece of art and immediately trying to flip it at
The auction and then can't and then undercuts themselves to like half of what they paid for
and sells it to someone else
So we didn't get k buddy to make a
Make a video on that where he goes and he's like wearing his born ape shirt
Like all the yuga gear wins some auction and that doesn't
Wait, you can't immediately flip this. Oh
Would be really funny. Oh
Man, but I mean it's true, right?
So whenever people talk about man
Yes, they are different than an altcoin right like by design
It's part of the mechanic of it, right?
So and you know as the market matures, they're going to be mechanisms that also increase the liquidity behind it
We've already seen that right now when you're talking about some of these loans and stuff
I mean, you've got some perps that are kind of out there. They're pretty illiquid
But you've got some perps that people have tried to build
You're going to see that continue to evolve because there's a demand for it, right? Like when you see projects
That hit this 10 bill plus market cap and like I think pudgies are gonna be one of those projects
They hit a 10 bill plus market cap
What ends up happening at that point in time?
You know people want fractionalization people are gonna like there's going to be enough volume that is trading on the underlying asset
That again people are gonna want ability to fractionalize it and exchanges are gonna want those fees
It's part of a developing of an expanding market, you know, if FTX was out there, they'd be rolling out with something
For that already say I would have it cooking and we'd have some type of perps already rolling rip
It's one of the things I miss about FTX. But
You know, a lot of that stuff is coming. We're still early as far as the phases of it
But again, you know point being what we've seen right now
With the NFT market the little pumps that we've seen
You know, like that's still nothing
It's they're also an accumulation at least the you know, the ones worth buying and you know
it's funny you mentioned perps because there's literally a
Soul project that went public today that just mints it out like two hours ago and their whole basis is doing an NFT perps
Let me look I've pulled up it's the
Still unrevealed they're about 20% above mint price right now public
That's pretty much all I know about them
Look went on their website. But yeah, their whole their whole basis is about doing in a t-perp
So I'll probably watch them here and see you know, what cooking because it interests me
No, that is interesting. I'll look at Kelly. I actually got a dip for the night, but you say, you know, man
I have you I still have your pudgy penguin with the Santa hat. You just let me know. We'll make it happen
Alright man, hey, I mean I there there will be a day
I'm keeping it safe for you brother. You just let me know. I heard him say at cost Kaleo
Now I'll be fair to the homie
Alright man, thanks for joining. Have a good evening man. You as well
So we got the legend dev chart who is a wonky stonk whale
Yeah up on stage what's going on man
I've been doing good man market is back been trading like crazy making some good money
I was actually planning to buy some more wonky stonks like, you know, I saw the price drop like drop to
0.0 0.06 I think and I was like, yeah by the end of the week, you know after I'm done, you know
Like closing on my trade. I'll buy a bunch and then
Yeah, so that was kind of disappointing no, you saw what happened with it, right like it's kind of sad I
Have no idea. I just joined the
The call and you guys are explaining that someone dumped and it was just like a bunch of buybacks or something
So now it was kind of sad man because I really liked the guy that did it
He was the third largest holder and he dumped a hundred and ninety eight stonks
Blurbids because he was margin called and he ended up having liquidate a couple of his apes as well
So he was just scraping together liquidity wherever he could and you know, I think that's the thing that
Like what I was talking about when it happened, right?
Like I did a space when it happened and I was just sitting there talking through it and I'm like, alright guys
I mean like here's the difference. I would be worried maybe I mean not really
But like I'd have more concern if this guy did it for some fundamental reason about the project itself where he was like
The stonks did XYZ Kaleo did XYZ. So I'm dumping all of these to make a statement that would have me a bit more concerned
Right, like because you know, then there's something to address we look forward for whatever
But like when it's a margin call type of situation
There's no reason to have any type of concern because you're sitting there thinking you're like and that happens to guys, right?
And what it does is it creates the opportunity where maybe there are people that haven't been able to buy in
You know because the price was a little bit too high for whatever and it honestly creates momentum opportunity as well
Because you saw how quickly that got absorbed
I mean like dude it it took a little over a week
To basically for that entire dip to completely be eaten up and move even higher
Right, like sometimes you like you think about trading altcoins or whatever else
Sometimes you have something that's been accumulating in a range for a while and it takes a quick little dip down before it ends up
You know moving higher. So I see it as the same type of thing
I hate it for him because you know, he didn't do it because he wanted to get out of the stonks
But again, I do love it for the fact that there are a lot of people that were able to
Acquire stonks at a great price
And I mean hey like it got some eyes on the project where we are right now, too
and you know, I'm super bullish on just seeing how the community responded and
You know like where we're heading from here, I still think where we are in this area is I
Don't know man. I obviously I'm biased but anywhere under one eat is it like for stonks is free
Yeah, I I've said it. I'll say it and you know, I
Like I believe in it. I believe in the community. I believe in myself
I believe in the art and the project the art is in the fucking chart, dude. That's it
The lines it must be true
Yeah, that's good then but you know, you know the most interesting thing of
so for the past year of the way I I kind of look at you know the market and if
retail is back or like if people are
More interested in trading is I look at the activity on all the different launchpad and pre-sells, you know
So for the past year has been dead like crazy. Nobody gives a fuck every project launch it just launched at breakeven or like
It just falls below breakeven price
But for the past like two weeks
Like it's it's been freaking insane
So like like a lot of demand a lot of people are just aping on different project on Solana aetherium this and that
Did have you guys noticed something similar on NFT sites or yes
Yes, definitely I noticed people were eating a Bosch
Oh NFT like crazy and also just like pop star coins. I need a 4,000% on a pop star coin the other day
I only put two dollars in but I made a whole soul and it was just it went up
Like I thought it was dead and I thought I missed it and the next thing I know was like a million dollars
Can I ask you a question real quick? There's one like this stuff is sort of hard to I guess
understand from the point of view of like
What is it that changes in market structure or in sort of the minds of the participants in a market that like grants that?
kind of risk appetite like
It seems like that everybody like gets the bat signal and then it's just like go time like
Is there like I don't know
I'm just I'm curious if there are any also like just in the last few days like the amount of calls that have
Gone up like exponentially compared to within the last few weeks
There's been just way more good calls in the last few days and there has been the last like three weeks
Wait, so could you hear Owen speaking there? No, I can't what's that? No, I can't sorry
Okay, I don't know which one of y'all will have to leave and come back up just so you can hear the other
But I can hear you like rooster dev. Can you hear Owen?
Yeah, I can hear I'm fine
Owen can you hear seppy? Yeah, I could
Okay, so you might have to have you leave and come back up
Just make sure that you guys can hear each other going forward
Know man, like I hate having to do this mid-call feels like such a boomer thing to have to do
Can you like the old T-Mobile commercials with the guy walking around? Can you hear me now?
Okay, good. Can you hear me now?
Good and the sad thing is half the people in this audience
Probably don't know what I'm talking about
And frankly, that's not my experience with T-Mobile sad to say
Um, but okay to answer your question Oh and
Wait seppy I can hear you can hear me
Okay, good, okay, but oh and to answer your question I
Look at it from the intuitive perspective of you know
Like what causes any trend?
Right where say for instance the Stanley cups
Where there are these Stanley cups that exist that?
Do they really do anything inherently different from like a Yeti or any other cup? No
But if you talk to any of these bitches that own one, they're gonna be like, yeah
My water just tastes so much more pristine so much cleaner
I can just drink ten times more water out of a Stanley and be more hydrated
It's become this fashion accessory to a point
To a point where eventually it gets oversaturated and you're like, oh shoot now this like 12 year old girl
Has a Stanley and this, you know, 60 year old mom has a Stanley and do I still want one?
Right, like but motherfuckers were dropping each other out target for the damn pink Stanley cups
Yeah, so like I think there's a similar type of thing
Honestly with risk appetite when it comes to you know, a bunch of the different things that are out here, right?
Like it starts off where it's not necessarily cool
And then you know with a smaller group it is and those groups influence larger groups
and then you bring it into it where it reaches a point of oversaturation and
You know things die back a little bit
So I I think it's a similar dynamic whether you're talking about markets
Social trends, whatever the heck else. I think everything kind of follows those same rules
Yeah, no, I definitely agree
It's like it's just funny because crypto seems to move at life speed with this shit where it's like a trend like one token
Will just go parabolic and then you get a million derivatives flying off trying to sort of catch that hype
But it's like people see that first one and they're like, oh I see if this is possible now
So maybe we can run it up over here
Yeah, man, I I don't know I I
Wish I had a more technical answer for you on that
I'm sure somebody out there has a more technical answer
But I think so much of it just comes down to the intuition behind spark spotting those type of trends
And the way I look at it right now is I honestly think we're still early on that left side of the curve, right?
I think we're nowhere near the peak of it for market saturation
You know you still look at it
There are a lot of participants especially on the crypto Twitter side of things that are still completely fading the idea of NFTs
I kind of laugh at it. They're more accepting than they were the previous round. They're like, okay
Yeah, NFTs are a real thing, but they're still just not for me
You know, we're gonna get to the point where I think every single person in crypto you're gonna have everybody that's
Involved in the NFT game this cycle like it's just I think it's gonna happen
Right. It took last cycle to birth the ideas in everybody's head
But like crypto Twitter for instance just wasn't ready to accept the fact there was this new asset class
Right, but I think now that they kind of understand the idea a little bit more behind it and not just crypto Twitter
But the general public as well
She's selling all it's over bros
Nothing for her don't worry dude like
Now that these projects have had time to actually cook
right, just like you were saying last cycle was the birthing of most of the projects and
The ones that have stayed, you know that
Decent I mean everything's down or most things are down
Pudgy's penguins and a couple others, but you know, I'm saying
Projects have time to cook now like two years just about so you'll this next cycle
you'll be seeing a lot of these things come to fruition and
What it actually means to be a part of some of these NFT projects. And yeah, I think I think it's gonna be a
It's gonna be palpable in comparison to the most recent
like what got me sort of like buzzing when friend tech first launched when like I
Guess it was the privy solution for privy solution for onboarding
But like that shit came out and then all of a sudden like web 3d apps had web 2 looking front ends
All of a sudden it was like wait, like where the hell have you guys been?
Like did like the tech make some sort of monumental leap forward and now we know how to make front ends that like don't suck
And it seems to have like I don't know if that started a trend or just raised to the bar or that was all coming
Anyway, but it seemed like everybody started shipping front ends that were you know
more user-friendly looked more like
You know either like web 2 either social dapps or you know other other types of apps that were more familiar with from just like the internet
Yeah, and not only that but Kaleo so, uh
I've been seeing a bunch of new projects that are launching right now
You know the type of for a project that raised like 50 million a hundred million that are like
NFT related, you know, like I've seen one that was
Kind of like trying to reinvent the axi axi infinity
Protocol that I think raised like a hundred million is gonna launch in a few months and another one that was also kind of a
NFT so it seems like a lot of
They're like really big investments in those type of projects that are NFT related that are coming in the next few months
So yeah, there is definitely some
demand and more interest into it
What's like the feel around game 5 I haven't heard you talk about that Kelly oh the rest of you guys
I I don't I don't really know that much about it. This is a tough one. I
Am very bullish on game 5, but I'm also very bearish
So I think it I know that's
How can you be both clay? Oh, well because game 5 is very difficult, right? It is
You're not gonna have something that sticks around unless you have a good game
I do think that we're going to get to a point where any game that is functioning if it has the right of an
incentive structure behind it
It'll last for at least a brief period why because I mean the Ponzi nomics of game 5 is basically a
gamified board version of
Farming right where people do the same thing with the numbers and the clicking on chain and whatever else so it's like
you know, it's just the gamified version of farming and
The majority of a bunch of these yield farming
Like if they don't really have anything else
It's really backing them kind of die off and it's the same thing with game pie with a lot of these games that are gonna
Roll out if they don't have anything that's out there. That's really backing them as far as a fun game. That's addictive
You know, eventually the price of the tokens gonna go down
And all of a sudden the game's not gonna be fun anymore. So you need a game that's fun outside of it like
So I mean that was why I I've been really really really selective with any type of partnerships
If you haven't checked out Farkana, I'm just gonna do like this will be my quick 10-second shill
So I partnered with Farkana. I met the guys that are the founders of it
I spent a couple weeks with them
Over in Asia where I you know, I met them
In Singapore and Hong Kong and really just you know one I was impressed with
The founders that were behind it
To just the vision and the gameplay itself
so like there were a lot of different things that kind of baked in where I'm like
You know, this has a lot of ingredients where I could see it being successful
And I saw how many people they have playing it that have no idea anything about the NFT space right now
And that was something that made me really bullish was the fact that a lot of the people that are playing the beta, you know
Have nothing to do with the crypto space and like that's what you need
You really do need people for I think game fighter really work
You're not gonna get it to work by selling it to the crypto native users, right?
You have to get it to the normies first and then the crypto native users come around. They're like, oh, wow
There's like an interesting reward mechanic that comes along with it
So I think that's the way if you really want game fight to stick around it's got to be done like that
It's got to be targeted to not the crypto space and eventually, you know circle back
Well, I you know, I was thinking how this might dovetail with like
You know things like on-chain identity
like we've seen a bit of that from social phi and in other sort of respects on optimism and you know,
there's there's all sorts of
Initiatives around this stuff basically, I mean depending if you're like an advertiser or a brand or you know
Gaming company or whatever just getting more information about the people who are using your products, you know
What they're sort of on-chain behavior looks like
I've been just like curious if that like leads to more efficient sort of distribution of
Incentives which like, you know play to earn
You know that that gets like a horrible rap because you know people look at the chart of like Axie infinity or whatever
And it looks like a total shit show
But you know, I wonder if there's a lane where this stuff could work if you know
You were you were tethering, you know, the rewards you're issuing more
You know carefully, you know based on what user behavior is so you would be excluding certain types of farming activity
To sort of benefit people who are using the product like quote-unquote as an as intended
I mean, that's one of the things it's tough. I think with any of those type of applications, right is trying to
filter out and say how do I reward the people that are the actual users versus the people that are the farmers that are
So that you know, that's not limited just to the game by side of things
But I think that's why it really goes back if you want to have a successful product
It's got to be successful outside of the crypto world, right?
It's got to be something that people enjoy playing and that has potential for growth even when the token and the price of whatever is
Exactly, right? Yeah, like how the hell do you make that like making that like I think I read somewhere that the guys behind clash of plans
That mobile game they had made like 51 games that flopped before that one and they spent like literally
Incredibly bearish, but I'm incredibly bullish because I'm incredibly bearish because the majority of games won't do well
I'm incredibly bullish because
Integration for crypto for any game that does like dude just def
I know you were an old-school RuneScape player back in the day
imagine if old-school RuneScape had integrated like tokens for GP and
You know that the like a bunch of the rare items
Were NFTs etc. Like it just makes sense
Exactly, you know, you've got a blue party hat that's tokenized and you're actually trading that on the grand exchange and it's a real Dex
Yeah, there were like quite a few projects that promise to do that
But yeah, it was it just ended being at that ended up being a disappointment
But yeah, like I mean, I don't grant to have a grand exchange like you need
Even like a couple of years ago. We're talking about that. Remember I told you that
If like a game like I don't know if you remember that project that went down on FTX the star Atlas if that game
Like actually managed to to launch the idea that they had with like, you know the whole
in-game talk to like token economy kind of like even mine that would have been
Really really good and a pretty good use of like, you know NFT and the whole like NFT ecosystem
but yeah, unfortunately, I think they they had like what 70% of their
Yeah, so that that was unfortunate so yeah, but I had a really high hope for that game but nope
Unfortunately, that's the thing too. Good games are expensive. Oh
yeah, that that's that's the problem for anyone that plays like, you know, like
like PlayStation or Xbox games like you see those like triple-a game even like the double-a games it take like
6 7 10 years to develop, you know and because like hundred million dollars or something like that
So it's it's really expensive to build a really good game
Yeah, but anyway, that's that's my surface level opinion on it
Oh, and I think game fly like it's coming but
When it when it really hits it's going to hit
And it's gonna sound crazy to people and everybody's gonna laugh at it until it happens, but I will say this too
The when we finally get a game that kind of breaks that barrier and actually does that
I don't care what game that's out there in the crypto space the shittiest of shitty games are going to be
You know do a 10x overnight, right? Everybody's gonna want whatever potential piece of the pie that's out there
You can get rev share on classic clans
Well, that's kind of what I wonder if it's like the
Successful application is going to be some game that like ports this shit over
Because like designing a full-fledged, you know, multi-lay like multi-layered in-depth
MMORPG and then also designing tokenomics that don't implode on them like you're trying to tackle so you're like building a
Like yeah, not only that too you got most of the normie gaming community for some reason just hates
NFTs and the idea of them. Yeah, it's not about anyway. I've no idea dude. It doesn't make sense to me because like who I
Think they don't get it. I
Think they don't understand. I think there's a little bit of jealousy, you know, someone posted, you know, it's funny
I actually probably got to go revisit this
This reddit post. I don't know if y'all remember a few months ago
someone posted on reddit about how they had I think a 8 or 10 ETH offer on their pudgy penguin and
Everybody on reddit is like seeding over this saying you're stupid if you don't take the money and run right now
You'll never see that again. Blah blah blah blah blah. It was an engagement baiting post and I'm in man
Did it work? But yeah, it's like I don't know what they hate about it is because you know
I did used to play video games growing up. I still dabble here and there but you don't have too much time for that now
But I enjoy the idea I probably would honestly play more games if they paid me for it or I could sell
Something out of the game for money, you know, if there's if there's an opportunity an avenue for profit, right?
I didn't deserve a little bit more time
Well, if there is I see it going like CS go where you get something like a case and then you have to buy a key from
The team to open the case to actually get the NFT or item where you're not actually able to get
Like items or NFTs from playing the game
You're just able to get something that you can pay for to then get a potential item or NFT
Yeah, that's the thing too great point about CS go is people have already been doing it without
Calling it NFTs and have been loving it
But then as soon as you throw the crypto association in it people all of a sudden get I think your mainstream media
Did a little bit too well of a job of like fear-mongering people on crypto
Yeah, I don't know if you guys kept up with
Game5 type of blockchain like that project like a merit circle
When they rebranded into beam and launched their own blockchain that should like did like what 20x I think in
The span of a month or two. So it seems like there is still a lot of demand and with this type of
Of tech like and I and I see a bunch of new projects that are also
Like trying to also go the blockchain route for game 5 like I don't know Calio if you remember Terra virtual TVK
like that old project on Binance I
Know I should know like I remember the ticker, but I never was familiar with it. Yeah, so they just rebranded
Last month I think so this is one of the tokens that I'm holding but unfortunately it's like not really moving
But yeah, they're we branded to Vanar and they're also launching their own game 5 blockchain in the next few months
So that might be like a pretty good gamble that I'm currently holding
But yeah, unfortunately, it's not moving as well as I was hoping but yeah, we'll see in the next few months
We will man and here's my thing too, I mean heck talking about it fungible is a good person
obviously, he's got a project in the gaming space but
The thing with like the gaming space, too
I look at it almost as the metaverse from last cycle where there were a lot of quote-unquote dead metaverse projects
For years that were out there that just kind of sat went sideways didn't really do anything
It was too interesting and then all of a sudden
Right, you just saw this blast off
Where several projects just started to skyrocket and
Did anything really fundamentally changed between you know what the projects were doing what they were building? No, not really
What did change was the appetite for the space as a whole?
What's that I would say it ended up with mark Zuckerberg like burning through
I don't know how many billions of dollars and renaming his entire company at the exact Pico top
Which is just like that's worth. I mean that you can't get any better than that that that was amazing
Yeah, speaking of which to decentral in anybody think that's ever gonna make a comeback
I think maybe a maybe a little dead cat bounce. What are their daily actors users?
Literally the number one but the problem
Like project like the central and they have a
Bunch of VCS that invested like hundreds of millions and sooner or later, you know
As soon as their tokens like fully unlocked they will try to pump the price
We've seen that happen in last cycle and I think we'll probably see that happen next cycle, too
So I don't think it will fully die because I don't if you remember
It was just before FTX went down like they had like I think a hundred million dollar investment or something the central and if I remember
That that that's back when like all those VCS were like freaking retarded like that one VC that that put a hundred million dollars on
30% discount and and one one-year lock and the the following week the price dump more than 30% so
They could have just bought it like if they waited a week
but now they left their token for like a year and I think by the end of the year the token price dump like
70 or 80% so they lost like most of their money
Well, it's like I thought I mean that sucks and it's awful
But there is something kind of reassuring to know that like VCS are like just as redacted and degenerate as we are
They are like they're they're just
They're just like the average city city person with just more money
so we we somehow just assume that they know what they're doing but when you think about it like most of the VCS in the
On the crypto side at least it's just a bunch of people who join like in 2017 2018. It's not like
People with 20 years of experience, you know, like in the traditional market
And that's that's not most of those VC most of the VC is just like people like you and I
Who got fucked during like one cycle and they were like, okay, let's just create a VC and try to milk the next cycle
That's what 3ac where that's what Alameda was and all those other guys, you know, they're just joined like 2017 2018 2019
Yeah, let's not run that one back. Yes. It's like at all possible
Capital arc was like a great one one for the history books for sure, but I need some new main characters this round
Oh, it's definitely gonna happen. They didn't you see the new main character that VC group the DWF, which are just like
His regards yeah, like oh my god, yeah, it's I don't know man
What do you think of like gambling game by cuz
From what I understand is that's gonna be a big thing coming up is the integration of gambling with game by into like some sort of
adult game gambling thing
Um, I mean people like to gamble so gambling
Gambling unfortunately is bullish
So like it is what it is. I mean the roll bits of the world are going to do well
People that build different things around it that build out these casinos
Like there are gonna be a lot of casinos that do
Intuitively these casinos do well, but there's also been a whole
You can speak to this for me to where I feel like there are a lot of casinos that have popped up in
crypto over the years and
Just not many have really gained a lot of traction. So
Yeah, and and and one one other problem with the crypto casino as opposed to exchanges and all the others is that
Regulatory eyes on you like people that you know, like all the regulators and all the those people that they don't like exchanges
But they still cannot let you
you know build your extension do this, but as soon as you
Gambling site that's kind of successful. That's when they start coming after you like I mean we've seen with that
The one that was being shield all around. I forgot the name
The one that was pretty big recently
I'm not sure I lose track of a bunch of the
Games he was shilling and all that but yeah
A little bit Robert had like so so much trouble, you know with all the regulators and this and that and like
Trouble or have like I've seen people talk about them. I think they have real trouble
think they kind of had but since they
It's kind of like the gray area
They they managed to get away with it and I think they they made some changes when people started going after them
Their influencers like overnight
That's why you stop seeing people shield roll with is because like, you know, they cut most of their influencers
I think they they had to adjust a few things to get away from like, you know all the regulatory eyes
but I was talking with a few projects that were trying to do gambling and
Most of them were telling me that they were trying to get like, you know gambling licenses, you know
Just not to get in trouble and apparently like this this thing
I'm not really familiar with that area, but it's apparently like super difficult to get one and and
Operated so I think that's that's the only issue with gambling is that you're also kind of like compounding things
They're like, okay. We are hosting this gambling service in DeFi, which is like international waters
And they're you know, if it's if like you're depositing funds and they're all being mixed then it's also a mix
So it's like a lot of things that regulators. Hey all in one
Yep. Yep that too and also like Calio said I think beside roll bit most of the one that launched prior to that
They didn't really do well. And I I honestly don't understand why because
Crypto people are like fucking degenerate. They would actually love something like gambling
I mean trading leverage is kind of the equivalent of gambling. So if you actually
For most people like, you know, they treat it as just like a
Casino like they don't they don't really care no TA whatsoever. Just
Like push the leverage as high as you can and just hope you know forgot that you're gonna make money and not get liquidated
So yeah, I think that's the main difference though
Between you know straight up gambling and a begin like a shit corner trading with leverage is
There's a little there's more tangible hopium then
You know straight up getting robbed on roulette, right?
Like you know when you're going in it's 50 50 but when you're when you're aping this new shit or you're thinking you're like
Oh, you know this this could have you know way more X's than just a simple 2x. So I
Yeah, I think there's like a
Slight discrepancy between gambling and you know, but it's a fine line we dance
Yeah, so I I personally don't know like about if I'm bullish on on
Gambling on the crypto side like I have no idea because I haven't really seen
any big project like succeed beside maybe a roll bit and
Stake or something. I think it was the other one. Yes
But all the other ones were just yeah, they just came and and disappeared
Bunch of CS go because he knows the tank crypto that do well for some reason
Okay reason none of us can guess the reason I'm sure
For some reason, you know
But but yeah, like like I said, I don't know why but like people seem more excited to gamble like
recently like today there is this
This project that was like overly hype like Satoshi VM that launched and I think it's trading at like 20x on the day today
Launched and it's doing pretty well
There is another one big one that launched on coinbase called on the finance also doing pretty well
So it seems like people are aping like crazy on those new launches
That's that's the thing that I've been noticing like at least for the past month
is that all the people that were didn't give a fuck about pre-sales or ideas and
Like new launches their back and like, you know, just gambling on it
So and I just got a call from my abasho group for this Satoshi VM and I painted it because it was on eat
I was like, oh, it's on eat. Never mind
Yeah. Well, well, but like I think
This is probably the beginning of a bigger trend of like, you know new projects launching that kind of might do well. So
Better it would be a good idea to just like keep an eye on like, you know
All those new launches that are coming at least the ones that have like a pretty big community and some hype behind them
Yeah, well like one thing I've learned about casinos from like mafia documentaries
Is that like their recession proof because even though like people's marginal spending?
You know ability goes down
Desperation goes up so people you know, they want to just take that shot which is yeah
I mean it's fucked up, but it is what it is
Sorry, I was a real fucking bummer I think reset Kaleo, please
You're fine man, I mean like I
Think the real essence of what Deb was bringing up though
Is there a lot of things that even in the midst of this bear market people have been speculating on and a lot of the
Stuff that's been speculated on has been on chain, right?
We've obviously seen this huge mean coin rotation and the stronger, you know, like whatever chains are rotating
We've seen some type of strength in whatever is happening on chain there with it, which should make sense, right?
Like, you know the higher beta play whatever, you know, we're Solana
You've had multiple meme coins that are really killing it earlier in the summer, you know
You had Eve that was doing numbers whenever everybody was still calling for souls death
You know, you've seen some stuff pop up with a Vax even some of these other
you know people right now they they're just looking for opportunities and I
To not take that for granted because it really didn't exist like this four years ago
Before the last having and I know there are a lot of people out there. They're like man, Kaleo
Are you sure the having dynamics are going to work the same way?
I mean the effect of it cuts in half. I'm like, yeah, you know
I still think that it's gonna make a noticeable difference. You're still talking about up to ten billion dollars of emissions per year
Potential cell pressure that's being five to ten billion at the current price range
And then on top of that, you know, we do have an increase in institutional demand
So I think it's one of those things, you know declining supply
Increase in price and then on top of that you have just the overall history
there is something to be said just about seasonality and
There is something to be said about the four-year cycle of crypto, right? Like
where you see and you look for certain events and
You act on them because you know what they've done in the past
So I really think that we are still going to get that bull market, you know post having later
This year is going to be insane. Next year is going to be absolutely wild and honestly probably into 2026
There's gonna be a lot of opportunity
Later on in 2026 probably gonna be rough 2027 probably gonna suck
Before being man, we've got we've got a lot of opportunity ahead of us where we are right now
It's so easy to focus on you know
This exact moment and when you see certain things moving saying man
I missed that or I missed that or man. Why isn't this happening for me and to feel down and out, but dude
You have an opportunity just by being here where you're ahead of the game
And I truly believe that because the real real real fun. I don't think that we're there yet
And that sounds crazy, but I think it's true
Pick out welcome up to the stage man. What's up?
What's up? Kaleo? Hope you're doing well, man. I had a couple questions man
I was gonna ask, you know, obviously earlier in the space. We were talking about how bullish you were on NFTs
Obviously turbo bullish myself
What chain do you think is gonna get the most NFT volume?
I feel like the consensus is kind of shifting towards Solana probably right and you know
My other question was I haven't really heard you talk too much about ordinals or if at all
I was wondering if you had any opinions on that as well, I guess
Talked a tiny bit about ordinals last night. I mean, I'm very bullish on ordinals
I just haven't really gotten involved yet. I actually kid you not
The other day and we were setting up a call
For we're just gonna talk through ordinal stuff next week
So yeah, you just randomly reached out and I was like yeah, dude
I'd love to sit down and you know, just pick your brains or everything. So I want to get plugged into it
Ordinals just makes sense to me
Especially with the amount of hate that there is for ordinals the more hate there is for something like that
You know the more staying power that it honestly typically has
Yeah, you know now's a good time to get plugged into ordinals as late as you may feel ordinals are still super super early
I think ordinals are going to be a huge trend this cycle
And have a lot of growth still ahead of them, but then outside of that too
I mean, dude, you're gonna still see a lot of this growth within each L1 ecosystem, right?
You know, we saw it was so last cycle. They're probably gonna be five other souls
This cycle where five other chains that do the same type of thing that sold it last cycle, maybe more
Right because I think we're gonna see such an increase in the number of people that are
participants in this space as a whole as Bitcoin starts to approach that hundred K plus territory
That will have the capacity to be able to support that many thriving ecosystems
Yeah, man, like there there's a lot of opportunity and eventually you have to accept the fact
It's like you can't do everything. Well, right like pick your things stick to it
And just just to add on top of that like
In in the in the back end, you know, I'm mostly talking with
All those projects that are you know, try to build on top of bitcoins and the latest trend and at least like
All the projects that are upcoming in the next few months
There will be a lot of Bitcoin L2 projects that are launching that are trying to replicate
The success that stacks had STX. I don't know if you guys
Kept up with it been trading it for the past few weeks. It's been freaking amazing like it's pumping like crazy, but now a
bunch of other projects are trying to compete with it, so
researching, you know the list of all the
The projects and a bunch of them has they received like a fuck ton of funding, you know
And yeah, so those I think when they launched those are the projects that you want to kind of ape on
Because they they will do pretty well. So
There's like a lot of incentives to making ordinals a thing too because you know
It drives up the fees on the network
To that point to that point you say there is
But that's the thing and I actually think it's beautiful within the Bitcoin community how there's division on that
There are a lot of people that say it is not beautiful, right?
Like they're like you're ruining this being you know peer-to-peer electronic cash
You're clogging the blockchain you're doing whatever else like
You remember that week on Evelyn were you like, you know
When it was kind of like the week after a clock launched on avalanche when inscriptions were going absolutely berserk on the chain. Yeah, yeah
Like I you know prior to yeah
I used avalanche in 2021 a bit and it was sort of reminiscent of that except instead of being at like $160 David's is that
You know 40 40 bucks, you know, but you're still paying like 30 bucks to push your transaction
And everybody on the chain was like man like fucking scriptions. Just go to a subnet. What the fuck are you doing?
I was like fuck man. I need to pay attention to this
This is like the Sun's going on here and I don't get it
Think that the exact same the funny thing about that was a lot of the people that were complaining
about the inscriptions on avalanche
Were the same type of people that were laughing at the people
complaining about the inscriptions on Bitcoin
Yeah blockchain, you shouldn't need the new inscriptions. Why not just go with whatever the you know
The token protocol is or the whatever else NFT is so I get that
but that's the thing about the
You know just the blockchain in general is people having
For freedom of expression for how they want to build
right and at the end of the day, you know again you look at
Avax for instance perfect example
Where there were inscriptions that were on the C chain and everybody is complaining about how clogged the C chain is
Well, you know, you could say hey
Could you have an inscriptions chain?
For it. Yeah, like you could do it. You can try to have a subnet
But with that subnet really have any value because I think that the value of the inscriptions on the C chain
Same type of thing of inscriptions on Bitcoin, right? Like, you know, if you had inscriptions on stacks
Put inscriptions on stacks have any value probably not right because you don't have the Providence
What was interesting about that is I got some dynamite entries during that week
I think because maybe because the gas fees were so high like bots weren't really running or people weren't trading so much
So it afforded like amazing entries on some stuff
That there was no competition for you know, if you are willing to pay
High gas fees and I guess like maybe think like I like I was kind of priced out of eat
I came in sort of near cycle top last time and I was kind of priced out already
But is like it seemed like seems to me like high transaction fees are correlated with
Yeah, I agree right high transaction fees means high demand
Just a chain in general dude, that's my that's my favorite bear thesis is
People saying at this unusable because so many people are using it like that. That's my favorite bear argument against ease
So who would be willing to pay these fees that's like well people are doing it
Like already the fees are so high because people are paying so many fees like that's how it works
Like for instance ETC, you know, I go back to that argument where I'm like
The fees on aetherium classic you can do something for a penny, right?
So technically can't eat be super cheap. Yeah, of course it can if nobody's using it
Yeah, it's just you know, it just goes back to the whole
The trade-off that we talked that we've talked about on here before
You know just the overall size
Like they're in there a lot of different things that go into it that you know
There's a scale where you have given you have take
And you have to decide as a user which one you really want but to do everything perfectly effectively
It's I don't want to say impossible, but nobody has figured that out, right?
That's one of the advantages and why I believe in a multi-chain future is because I think you have different chains
that satisfy different needs
You know as we're seeing more cross-chain integration
Don't know man. It just makes sense to me that there is a need for
multiple projects because of that whole dilemma
Know it'd be really bullish to me
It'd be really bullish if there was an NFT that
You know some type of chain that made you be able to move them between chains almost like they foresaw the future and
You know have already solved that problem so you can freely move your NFT between chains, then aren't you just like
Fractionalizing or you're like fracturing liquidity of already a liquid asset
Like I mean the ARB opportunities would probably be amazing, but I mean it's gonna follow you follow volume, right?
I mean NFTs have pretty small circulating supply
So I mean yes, there are ARB opportunities sometimes when there's a volume spike on one chain
But you know you you never know
It's not about solving the problem for now. It's about
Preparing for you know solving possible hurdles in the future, right?
Cuz you don't know what's gonna be the next cycles hottest chain like it could be a chain
But just building on the ability to be able to move between chains because what if you know what if all?
98% of NFT volume next cycle is on a new chain that comes out in two months like you have no idea
So it's just solving putting places in step. So you don't have more difficult hurdles in the future
And there's a project that has already done that it was a sarcastic common
Yeah, and I was gonna add that's a roosters PFP. They're the pandas they do have that ability
Also, what do you guys think of like later zero and change now and stuff?
Wait didn't those pandas mint on like ten different blockchains
Yeah, eight eight eight chains total that's crazy
It's like a lot of this that to like get to know eight different ecosystems and figure out how to like
Vibe and like how would you approach that? Are you like just your community?
Like I would imagine you probably congregate
I'm just gonna speak in bags as words
Pretty much he took over the project and primo from layer zero hit him up
And in his words when primo hits you up to do something you just say yes
It made for a hell of a mint right because you got like two thousand on aetherium
800 between like arbitrum phantom
Avax, you know and then last 1000 on Solana
I was gonna say having to pick eight blockchains is just a chore in itself like that seven and eighth pick
I mean you're you're scraping at that point, you know
Yeah, and I mean this this was you know strictly just for men this is more it was more like a proof of concept
At the time. I think they were technically the second project to mint with layers zero behind
But it's just building on that foundation where you are able to
You know move freely between and you're not you know hardstock or having to force everybody
I get d gods running into the issue where they're you know forcing people across different chains
Right, and it's not you know
If they had done what pandas had done it'd be you know, super simple
All your holders can move freely and use the benefits for whatever
Instead of having to you know, force your entire ecosystem over to a new chain now
Well, I guess like if you're set up in that way
You can probably sort of play different foundations off of each other for incentives as well, like you know
Like that that would be like pure value add like plus EV to anyone in that ecosystem
Yeah, yeah, and I mean the purpose of minting, you know wasn't necessarily to you know, keep
In the beginning. There's a lot more Arab opportunities, right when the active mint was still going
I mean major 80% of the pandas now, I think maybe 75%
That were minted on other chains have already bridged, you know over to eth main net other than Solana because
We're still waiting on that bridge to come out and how expensive is it to bridge an NFT?
You know, I don't know actually I I didn't
Mint any of the other chains actually got all my
This typical fee of a smart contract transaction whatever gas costs at that time and whatever
But yeah, I mean I it's nothing ridiculous
Speaking of which there is a wonky stonk on Solana
There is one wonky stonk on Solana
Like there are a lot of people they don't realize that the songs are a collection of eight thousand seven hundred and thirty six
Because you go to open see or blur it only shows eight thousand seven hundred and thirty five because it only reads
songs that are on the eth chain there is one that was sent via wormhole back in 20
Over to Solana that still lives on Solana
So believe it or not the wonky stonks are officially a cross chain project
I'm loving my stonk bags right now. It's great
Love that man great stuff
So here's a question for you guys I'm curious, you know
the gods took the route after they switched over to
Eat from soul and you know to like Ethan to polygon from soul
Where they then continue to expand and you know, they dropped an ordinals project and
I'm just curious. What is your opinion on a project that is on one chain right now?
Potentially launching and doing a mint on another chain. Do you think that a project once there's somewhere?
It's like did you need to stay there focus on that community or do you think there's a way to really effectively start branching out?
I think the worst thing founders can do
Is immediately listen to the community especially right after me
I think communities need to put more faith in founders just as a start because honestly
You know depends on it depends on who it is, right?
Your main I think issue with the gods is just an experience just because of how young the team is
Right. So that I wouldn't put so much faith into as you know, like following ice bags who's
For you know 20 plus years has ran multiple businesses, right?
That's more of a for me at least a bet on the people who are doing it rather than what they're doing
I think it's inevitable to that like, I don't know. I think sticking to one chain is just like
kind of narrow-minded and like right now I think in the future like
Just branching out to other chains
Gets you into more communities. It gets more people in there
Like the NFT ecosystem as a whole is already so small that like pigeonhole in yourself to just one blockchain
You're really like handcuff in yourself for like putting potential eyes on your project and potential supporters that you can have
Yeah, nowadays being a maxi is the most negative EB like thing you can do
Yeah, but the I mean the only thing is that there are sort of tribal
ecosystems like some more than others and
I guess it's like how do you how do you do it in such a way where you don't piss off the users?
You do have the people who are on your team
You don't force them to do anything you leave it, you know up to them to bridge across, right?
Or to freely move and just be just be more compatible rather than you know
Your only option is the you know bridge over here within this time
Otherwise your NFT is worthless, right? Cuz you have some investors who will sit and forget, right?
There might be some D gods holders who still think or still have their D gods on Solana, right?
And who not have done it purposely but just have no idea that this whole process has happened
You know, it's funny some of those Solana D gods at one point
I don't think it's still the case, but they had flipped the floor price of the ethereum D cons
Haven't really kept up but didn't a camp I Panda do that like they they also branch to Solana
Uh-huh, and it seems like the reception was pretty positive one
Eight chains was always the original
They held off on the final chain during the mint process because one know if that was at the point in time where you know
Originally, it was supposed to be Solana, but then everybody thought you know Solana might be dead
So they kind of held off for a little bit, you know, the layer zero was like, yeah
I don't know if we should jump the gun on this, you know
Maybe just have other options opened and then circled back over the summer of last year and you know
Decided to do the final chain on Solana, which did get them, you know
pretty good credibility with a
Good amount of the community members because they were minting at a time where it was pretty much right after D gods
Left I think a month after D gods left Solana
So it was well received. Yeah
But there is no bridge yet I cannot you cannot move Solana to
Your Solana pandas to eat yet. We're still waiting on layer zero
One of the reasons why I was asking that like
I've thought to through some of the situations where back in the day
It's like, you know when the arena was really popping off for instance
It's like I'd talk about stonks and say that I had like another project
That was you know sitting there ready to go and I'm debating what chain to do and I'm like man
There are a lot of people here in this a backs community
You know really are interested in being involved
They don't want to go over to eat
Right. So you've got this whole community and it's a perfect fit like
You know, you have to ask yourself. I think the real thing that it comes back to is
For anything you have to say man
Well, how does it add to the overall sum like is this a value add in some way in some way?
Is it the track is it something that has some type of synergy, right? Like
You know, I think that's the difficulty that you really face and you have to have a bigger vision
Behind what you're doing as you're bridging over
But I definitely think there's opportunity
To look into it, right because if you were so narrow-minded that you're only staying on one chain
you lose out on a lot of potential up like
If there's anything that I've really learned over the past few years, it's don't be a single L1 maxi
As much as people are even becoming soul maxis right now, right and you have a backs maxis neat maxis like
We're here not going to live in a one chain future. Yeah, you're literally
You're living in the past as an ft project or founder right now if you are not
Minting multi chain like at the end of the day
You're just shooting yourself in the foot like from here from like this point forward if you're not already
Minting with like multiple chain
compatibilities even if it's just splitting 50 50 down the middle between Solana and a period where most of the activity is
You're shooting yourself in the foot
Don't know man. It's just a lot of exciting stuff to think about moving forward and again
Looking at where we are right now like my encouragement to anybody that sees a bunch of the green across the board
Dude, this is this is nothing compared to where what a real NFT bull market looks like
This is just the early stages of you know
You've got big numbers because you had some really thin floors across projects that doesn't take much liquidity
To really drive that up and guess what it's still the same way right now
Like it will be that way for a while
Right a lot of these projects still have people that have been holding on to them for a long time
And you've got thin floors to continue to push them up
There's gonna be pullbacks, but there's gonna be a lot of opportunity that comes along with that
You know like whatever bag it is that you're looking at
You know look for that opportunity and I think over the next several months
You know start to look for ways to get plugged in and I'll say this too
There are plenty of opportunities out there for a lot of these things to still get you know
Three drops one way or another like I give away free stonks all the time every week
I'm giving away some type of stonks
There are a lot of other founders and a lot of other people in different projects
You just hang around the project for long enough and you'll get some whale. That's like, bro
Like I want you to have one of my NFTs
Right. It just happens. You know it like that's one of the things about NFTs
You don't have with coins because if you have a different coin project and you have somebody that's just this maxi in the coin
Project and they don't own that coin. You're not gonna have some whale that just randomly drops them X amount of a coin
Right, like it just doesn't work like that. So with NFTs, it's a little bit different
Find ways to get plugged in plenty of opportunity
Right now plenty of opportunities still out of us
But unfortunately guys with that I'm gonna go ahead and cut off the space for this evening
Just a reminder. We do have tomorrow at 12th Eastern time
week number 100 throw it up week number 100 consecutive of
wonky weekly Alpha spaces
That is 12th Eastern time follow ledge art IO down there in the audience
They're obviously just follow me be able to look out for it gonna give away some stonks there as well
I know I'm gonna give away a couple. I think there some community members that also want to give away some stonks
We'll be talking and reflecting on everything over the past hundred weeks
And you know even beyond that had the two-year anniversary for the stonks mint back in October
So we'll be reflecting on all that and you know, also looking forward to what is out there ahead of us
Thanks for tuning in tonight as well really enjoyed and you know
I'm enjoying just getting getting back in the grind of doing this a bit more regularly
Cheers everybody. Thanks for coming out. Y'all have a good rest of the night
All right, when the wonky stonks with the next face wonky stonks are inevitable see y'all there