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RAC FM Hosts GMC🦝 Let's see what's happening 😎
Recorded: March 17, 2025 Duration: 0:52:39Space Recording
Short Summary
The transcript discusses the launch of the Galactic Mining Club (GMC) and its successful entry into the crypto market. It highlights the adoption of a new token on injective and the project's efforts to raise funds for additional mining rigs. The community's resilience and strategic focus on decentralization and yield generation are emphasized, along with innovative funding approaches and market trends indicating recovery. The project is committed to running with accountability and solid management practices.
Full Transcription
All right, Foxy, should have a speaker there, yeah.
It's got the 10 second, 10 second walk of shame coming up,
and he on the, you know, and you come up with a speaker.
There we go.
Hello, son.
I'm going to, let me try to get these heads set connected, fam.
You got some technical difficulties going on on my end, too.
Fuck, man, I've just posted the, yeah.
I've just posted the tweet of the screenshots.
Man, I was panicking.
I mean...
That's never happened like as we've just done a two hour space and we just wound it down, had a little break and they were firing this back up.
We did eight little ten my time.
It's now like 11 and I was like fuck my life.
But every single space it was like unable to fetch space on like when I scroll down all the notifications, you know.
And I was like, fuck, I was like please God I was like literally praying.
I mean we've lost a little bit, but hey, that's no problem, son.
Anyway, let's get you hooked up.
So who's coming in, Foxy?
He's someone's connecting here.
Let's see.
Oh, he's down, isn't it?
Maybe that's because he's changed his headset, is it?
There you go, son.
I'm good now.
You're absolutely go.
You're absolutely go.
Who's joining us, then, Foxy?
So we have our wonderful Constellierre down there.
If you want to add her and also see, I know he's got the flu right now.
So I don't know if he wants to speak or not, but.
Okay, mate.
Mike's in to everybody.
So, yeah, I'll tell you what, we'll let Finn do the beginning for this one.
He likes his little secret squirrel NPR beginnings,
and the last few recorded shows me and me band's have been, like, stealing the spotlight, so to speak.
So, yeah, Foxy, is that you on the main account down there, or is that someone else we're bringing in?
That's someone else. It's probably Matt, if you want to bring him up too.
Perfect. There you go. Everyone's got a Mike Custy. Oh, lovely rebels here as well. Excellent.
Right. So yeah, well, let Finn do the beginning. And I'm just going to get down to it.
Quite quickly, actually. I send Foxy a message saying, like, I think it's about time.
You know, I wanted to let the dust settle on the news a little bit.
And then I was like, Foxy, it's about time.
Like, you did a Ragafm, you know, with GMC, blah, blah.
I mean, nobody wants to dwell on the past.
But, like, I think for a lot of people that might come into this later, you know,
because we're going to obviously edit and archive it,
people might want to know, like, a little bit of a timeline.
So, I mean, I just want to welcome the people we've got.
So, Rebel Dove in first.
Hello, Rebel, son.
How you're doing, maybe?
Long time, no, see.
Hey Robo, how's you doing?
I just saw this was on.
I thought I'd jump in.
You'd be doing a lot of alpha growth stuff, which is not
necessarily up my street but yeah felt a bit more at home in this one dude i've only
done what you're talking about i've only done one show man i've only done one show and then
brian's talked about a couple of things a couple of times but we've only ever done one show
man well since we came back in two months it's i don't listen i don't know but it's like it's it's
it's because it's in the title is it because it's in the title that's what it is it's
powered by alpha growth ah yeah yeah
No, that just means a bit of a sponsor.
That's all that's all that is.
Okay.
Yeah, yeah, yeah.
I jumped into one the other night and it was about something on base and I was like, yeah,
I don't really do anything on base.
If it's in the cosmos, I'll be here.
So that was the actual interview, bro.
We've been doing loads of mad interviews lately, man.
You want to get on the Spotify, right?
I found on the Spotify and have a look at what we've been doing.
Being foot in glass blows, so make bongs, fucking all sorts of mad people.
It's crazy, man.
And this leads me to say this is why Foxy's here.
I was like, come on, bro, like clear the air shore.
Like, I'm not going to say like Day 1 reset or anything like that.
But, you know, every project, especially when you've been through what you guys have been through.
And, you know, I know, I would say the story.
I probably know, like, about 60%, 65% of it.
So I'm actually curious about like the kind of like timeline of events because,
One minute, everything's like just bang, Uber successful, Uber successful, you know.
First collection, obviously.
But then the second one, bang, Uber successful.
And then shit happened that happened.
I mean, Foxy, who's the best?
Because this is recorded.
It'll be editing archive for a long time.
Oh, he's fin here as well.
He's heavily invested in there.
the NFTs by the way but if Foxy who's the best to give us like a timeline of the project so we
interviewed us just before launch I think it was like January of last year right so you've had like
an eventful year we can see right up until the recent news so yeah out of who's in the room
who's probably the best to give us like a little timeline just to get us into this story
C is definitely the most, he's been here since the beginning.
I mean, he's a co-founder of GMC.
He can probably give you a quick rundown.
Yeah, I can probably give you the timeline from front to back at this point.
I guess where do you want to begin?
Okay.
Well, I tell you what, we know that the collection launched and we know that it was very, very popular, right?
And it launched on, they launched on Luna, Luna 2, right?
So that's, that's, let's just start there.
And then, you know, how did the second collection come out?
And then what happened with drugs and what happened at the end of the story?
You know what I'm looking for, yeah?
Yeah. Yeah, yeah. So, okay.
So, yeah, GMC launched February 2024.
I mean, we, like you said, very successful. We minted out really quick.
Floor price kind of went crazy.
And the telegram really kind of turned into this hangout.
I mean, you know, it wasn't out of the way to jump into the telegram at any point of the day and have three, four, five hundred, a thousand mismessages.
So there was kind of groups and whatnot that developed in there.
And drugs initially emerged through one of these discussions, so to speak.
Kind of late one night, Hashi said he found this token on injective.
Everybody kind of.
jumped into it.
And that was kind of, the reason he was kind of looking at injective was right around that time he had been talking with JG.
The proposal for the injective grave digger was moving around.
So we were asked to do that.
So we just kind of learned the ecosystem seeing what's out there.
So we kind of all took it on his face that this was, you know, just some random mean token that we, that was discovered and
You know, we kind of adopted it as an official GMC type thing.
And then as Blackie Syndicate evolved,
it just made sense to kind of keep everything connected in that regard.
I think off the success of mad scientists, there was a lot of expectations.
What made you do this second collection?
JG asked Hashi about, you know, doing a grave digger collection.
I think with all the successes of bad scientists, they really kind of, they wanted to hit
well the iron was hot.
And I think from our perspective, it was a great opportunity to, you know, bring GMC to a larger
audience, but also hopefully put some funds in the coffers to get additional rigs and things
like that to really benefit the main collection.
Again, if you look at what mad scientists did, it was, you know, seven figures.
So the thought was if we could get GMC even a fraction of that and be able to add, you know,
another five or ten rigs to our collection and really amp up the returns, you know, it's going
to benefit our holders.
It's going to really set black extending it up for a solid run.
You know, there's a lot of optimism and I think probably a
little bit of short sightedness in terms of missing, say, the forest through the trees in terms of what led mad scientists to be the success it was and the support that they got from the Osmosis Foundation and things like that, which we really did receive on the Galactic Syndicate side.
So, yeah, I mean, we was initially we were supposed to launch Black and Syndicate in May.
So technical issues kind of pushed that back in through July.
And, you know, I guess, as we can kind of say, looking back, it was not the success we had hoped it would be or weren't able to really develop it the way we had envisioned it.
With the rays that it did have, it really kind of, you know, there was room to have the collection grow, but we were definitely on our heels in terms of trying to get creative in ways to grow a treasury and get things in a better position for the holders.
And it was right around the launch of Black Syndicate that myself and another council member, Blank, had kind of been discussing some weird happenings, I guess, with drugs.
And he kind of learned a little bit of forensics, I guess, in terms of looking at the blockchain and was tracking a few questionable interactions back.
I don't know, won't get too into the weave, I guess the jigs and the reels, we discovered that
Um, Hashi was behind Black, the Syndicate.
So of course, then it became, well, you know, questioning him and what was going on.
And he cited it was, you know, to him it was something he was going to use to promote both collections and that it was going to benefit everybody.
So we kind of give him the benefit of the doubt because up to this point, we really had been,
given any information, I guess, to question.
It seemed everything on the up and up.
Brod, do you think there was, I'm going to ask you?
Do you think there was like a little bit of a lack of oversight in this situation or what?
Like, everybody was just like friends and everybody like naturally trusted one another?
Yeah, I think there's definitely some natural trust that developed there that, you know, again, with the...
certain people not being doxed and some of the anonymous nature of crypto in general,
probably misguided trust, right?
It was, I think personally, and I know with the other members,
this was a heavy one for us, I guess,
and a really significant learning experience once all come up.
Well, some projects don't make a comeback from things like this.
A storm project, you know what I mean?
So you're right, mind, see?
I'm just wondering, you're right about the team?
There's three other people here, you know?
Get them in the conversation, bro.
Let's get some recollection.
This is ground zero, you know?
Yeah, yeah, absolutely.
And we got, so, I mean, it's kind of in through the fall.
There was a lot of,
rocky experiences between members of GMC.
You really kind of saw this schism between the councils.
There was a lot of overlap initially between GMC and Galactic Syndicate.
Over time, we really tried to divest those and say,
okay, you're kind of focusing on one or the other.
Again, this is kind of around the time we started noticing, you know, the dumping of drugs being tracked back to a certain collection of wallets
Kind of Hashi being in and out. So there was some questions there around
What was going on with him and
That kind of eventually is what led to the the blow up we had in November that was relatively public and the telegram got deleted and things like that
You know, and that was really kind of the
my last time talking to hashi was i think november 8th or 9th so i mean it's been it was a long time
that i hadn't even really spoke to him before i think the startling i think the startling thing
was about that is we interviewed him back in the january and he talked about the mining so he i
presume he was in possession of mining equipment is that right
Yes, yeah. So he was running our Casper rigs, which back in the beginning were extremely profitable.
They were shut off in the fall due to profitability issues, and they never did return to profitability, not to a significant degree.
And then kind of as the last few things kind of happened with him and Inferno,
You know, we had some questions come to us about getting the rigs back and things.
And in talking with some of our mining partners, it just kind of come out that they're really mean value in paying the shipping to get those rigs back at this stage.
Like, for example, the KS3, we paid about 12,000 for.
And you can buy them on secondary now for like 200 bucks.
So it really become, okay, well, you know what?
That's going to stay segmented.
Now at this point, we've got L9 rigs.
We've got a hosting facility in Washington.
So it's all completely separate.
If anything happens with one member,
you know, GMC itself still has its rewards.
So has everything kind of flowing in.
I mean, I would like to add that, you know, I mean, what it came out of all this is, like he said, we had a divide between the different councils and communities.
But at the end of all this, I really think these communities came together pretty strong.
And we recognized a lot of like issues that initially weren't really a problem because, you know, everybody's just having fun and bags are pumping.
But you don't realize these these things are as big of an issue as they are.
until you have the fallout, you know.
So because of it at the end of it,
we've become more decentralized
and a lot stronger as a project in general.
100% like I don't want to sit here and you know re rehash and relitigate the last four or five months or speak ill of anybody who's not here to defend themselves you know we went through some tough times we made some mistakes learn some lessons and and I think we've kind of come back as a more cohesive unit and around GMC
Galactic syndic it's got his own kind of CTO team that's kind of looking at that as well so we're uh
You know, we're optimistic looking to the future what we can do versus kind of the some of the stumbling box of the past that hit us.
Hi, guys, everybody.
I would also like to add here that also drugs was a CTO on injective, which we migrated from a
a CW20 token onto a factory token.
And there's also a very large dedicated community there,
a good team behind it.
And even though it's, let's say it's a MIMP token,
I think that we see there also the community standing strong.
There were a couple of good achievements in respect to that token, which first of all, it was the migration.
There was also the incorporation of a tipping bot on our telegram channel, where all injective memes were represented and you could tip each other.
And also, we're having like monthly burns competitions to, let's say, make the target a little bit more deflationary.
We have a few other plans in the pipeline.
I was part of the drugs CTO team.
And I'm also a very, very proud GMC council member right now.
And like Fox and Zibat said, it feels very good right now
to see the entire community coming together stronger.
And I'm a firm believer, both in the concept of a GMC
and also what Galactic Syndicate has to offer.
The art in both collections is amazing.
We've got the Fox to thank for that.
And I think that the future holds a lot of promises.
Thank you guys for letting me, let's say, tag along and be part of these two,
of like three amazing projects.
What's happening with the, thank you, darling, what's happening with the NFTs at the moment?
Are there, like, what, are they, any NFT update for us?
So the GMC NFT, well, that was fully minted on Terra.
We do have some discussions now on whether to migrate on another chain.
We had a like a filler prop out on whether we need to start any discussions with osmosis and maybe see, you know,
explore whether there will be more support on the NFTs there.
This is ongoing, I think, Seabat and a couple of other team members are on top of that.
The miners are working.
We do receive our weekly mining rewards.
In respect to the Galactic Syndicate, the collection has not yet minted out.
However, we, after, let's say, I will call it a sabbatical or a hiatus, people now are starting to fit in the grave digger with a, you know, bonding in an inch injective.
And also we have started seeing a lot of mince there.
And well, to mean they are unit.
to have seen which is paired with the injective it's good to see the the small ctio community
there coming together uh minting and actually starting to to promote it on um on on
on ct which is a crypto twitter or whatever it's called right now i think that um in respect to to gmc um
The collection is strong. They art, you know, even after over a year of it being mitted out, still looks fresh to me, relevant. I like the narrative.
Have they been holding their floor price, have they?
The floor price right now, it's around 148B Luna.
However, a few of the traded ones, like for Shade Protocol, the last one I bought off there, it was priced at 500 Luna.
They do hold the floor price.
And also we are trying to stimulate the sales.
We do have like a monthly sales competition for that.
For me, yes, there is some cell pressure,
but I do feel that the floor price is, you know,
we're holding on to the floor price.
Yeah, I think the big thing is a lot of...
you know, just like the rest of the market, we kind of saw things depressed to a degree.
But, you know, things are starting to kind of rebound.
And, you know, I think that's the important thing is regardless of a lot of the issues and whatnot that arose around, around the collections with some of the actions of Hashi.
I think that, you know, all three, the three projects are, you know, in solid hands with plans for the future that hopefully now will be able to, uh,
really facilitate and get things turned around.
You know, I want to, I'll tell you what, Foxy, we've obviously got somebody else on the team as well.
You said it was, it was on the official account?
Sorry, bro.
I believe it's Matt.
Yeah, yeah.
Hi, Matt, mate.
You've been listening very patiently, mate.
Do you want to chip in before we start talking about that aspect?
Yeah.
Absolutely, brother. I mean, it's been a pleasure again, you know, the whole, I've been in GMC since the start. I didn't start out as a council member, but during the shakeup, definitely got to become a part of the team, you know, same as Conce. I got to, you know,
you know, CTO, a lot of this other stuff, you know, with the drugs, help that out.
And then, you know, Galactic Syndicate, I've always been a strong community supporter in there and tried pushing these extra members that have spoken up inside that channel to get leadership positions.
So hopefully everything starts clicking around here.
very soon um you know crypto cosmos crypto in general has been uh you know pretty pretty
shit since what last march so it's uh it's uh it's been brutal it's been absolute brutal so you know
i mean we're still in 80-something k bitcoin and you'd swear we've been in a bare market for for uh
we've never gotten a we've never gotten the bull run you know but uh you know it's it it's
it's good i mean the community i i fully expect you start seeing a uh
you start seeing the cosmos return you'll get you'll get the community uh that's dormant back
you know a lot of people just check check the hell out of crypto um what concy was talking about about
talks about moot uh possibly migrating the galactic mining club you know it was
A lot of the community members starts, you know, really having opinions about Tara and all that.
My personal opinion is, you know, I'm still a lunatic at heart.
So it's hard.
It's a hard decision.
But it does open up some upper opportunities if we're, uh,
If we kind of shift out of Terra, injective has the same problems.
You know, NFT communities really thrive and you see it with the mad scientist on collaborations with other communities.
And it's very hard to do that on Terra.
One, there's not very many communities that are new coming to Terra to kind of spark some big collabs.
But, you know,
when you're talking, it's so hard to come off of another Cosmos community and say,
hey, we want to, we want to, air drop.
terror or injective communities and you got to find out you got to jump through all these hoops
Most people just don't want to do that so I think you know mad scientists really killed it
With all the collabs that they've agreed
Great great there was there was 1333
Rack NFTs and I think only like 700 got migrated over to Stargayers
Like you kind of lose a healthy portion of your collection like if you if you just want people there you know what I mean?
That is one thing that you got to take in consideration of a migration.
I mean, we're still after the whole enterprise debacle.
I think we still have, what, about 200 NFTs that are stuck on enterprise?
Not stuck because you can get them out, but just people have left them behind.
So if we made a move from Terra to another chain...
you know you're going to have a lot of people stuck on on that dow on dow that are thinking they
they locked up their nfts they're going to be earning rewards for for a while that's come check back
in six months and be like oh nope we're on osmosis now you know
So it's some things you got to think about and we got to make it very clear to the community if they want this change.
Because ultimately it's their choice.
Not, you know, this isn't the team picking up and going.
This is the will of the community.
Well, bro, on that note, on that note, I've got like three points.
on the list that I thought, right, okay, you know, what maybe doesn't get asked or whatever.
So I think a lot of people forget about the artist.
So artists are kind of pretty special people, right?
Let's all admit that, right?
We've had our own, like, we know what it's like, right?
So they have more of an intrinsic, like, emotional connection to the art to create.
So Foxy.
this is a question it's a loaded question for you like bro i just want to see mate right like as the artist
as the person who created this gigantic collection of kick ass art mind it was kick us art by the way
that minted out quick as folk and then crazy floor prices and blah blah and you know luna was
like whatever price dollar at the time or something
or dollar 20 and you know we often think like because we you know um badoe we spent a lot of time in and around them and and you do have an emotional connection so for you it's been a little bit of a different right was there any point at this stage you were thinking fuck my life like i wish i hadn't got involved in this i wish i hadn't put my name to it
Or have you just being like, fuck when I'm along for the ride?
You know what I mean, Foxy.
I know it's a loaded question, but I just want the real as the person who actually
create sat there for hours, create an art and has like an intrinsic connection that maybe
other people on the team don't.
And that's no disrespect for anybody.
You know what I mean?
I'm just being very clear that the artist has a very different role.
And so at any point, did you think like, fuck?
Like, you know?
I mean, I got to be honest with you about, like, Galactic Syndicate has been like,
that was so stressful from, from day one that, for sure I've thought of that.
Never once have I thought that about Galactic Mining Club, actually.
Like, I've always thought that, you know, no matter what, you know, like we,
even with Galactic Syndicate, this is the collusion that I came to,
that it's like, you know, I believe in these chains enough.
And I'm, and it's, it's, uh,
It's nice to have this opportunity to begin with, you know, so I'm glad for the fun times that we've had no matter what happens at the end of the day.
That's how you have to think about most of the space.
And I have a close connection with Galactic Mining Club, too.
You know, it's like the first big project that I've worked on in the space.
And I just love the narrative that it runs on, too.
So, like, you know, never have I regretted putting the collection out.
Now, you're going to have all this shit come up,
especially if you have such success in the beginning.
You have to expect you're going to get some pain somewhere.
You either get it in the beginning or you get it afterwards.
Well, so I say we've lost, okay, we've lost, say, but never mind.
Right, listen, how long have we got?
Because this is important, right, we've got 20 minutes.
I am going to ask about something that maybe you just want to have no comment on, but that's okay.
So, you know, we all know what happened with Hashi not so long ago, etc., etc., right?
You know, we don't need to rehash that situation, but...
there was like people like calling it out this BS and I was like whoa wait a minute like
crypto like crypto can't be this fucking deluded like this like if someone's going to make a statement
like that like this name on trying to like not not for that kind of money like and I was like I don't
know do you know there's some things that make you lose a little bit of faith in crypto do you know
And if you look at the actual situation that has a incident and everything that happened, blah, blah, blah, the fractures, but then you look at like the shit talk and like after the bad news.
And that was like just 10 times like fucking worse than anything.
I mean, I just want to ask like the whole team kind of like that wasn't a good moment for crypto, you know.
Yeah, I'm not, I'm honestly not surprised by people's actions anymore, man, but I will say about Hashi that like for any faults that he had, you know, like human life is more important than, than any of these investments we have in these things.
And.
And any problems that you had with somebody, you know, that pretty much ends when the person's gone.
And also, you know, I mean, if you value these collections at all, you know, Hashi paved the way for these collections to be able to run.
So, you know, you have to have some appreciation.
And, yeah, man, that's about all I have to say about that.
I know, no, no, you know, though, I also think to myself, like, I'm pretty sure, like,
your man was fucking high as fuck sometimes I sport room, like, and now I'm not fucking judging anybody
because I get, like, high as fuck as well, you know, like, too much, like, and I was thinking,
like, oh, hey, I wasn't, like, anything to do with that, you know what I mean?
I was thinking, like, fucking, you know, that's, like, the worst thing in the world,
but, yeah, I mean, Matt, you know, you know what I'm asking, like, dude, like, I say, I was pretty,
I don't know. I wasn't impressed by the kind of reaction.
Like, I'm thinking no one's got to put out a tweet like that and not be fucking real.
Do you know what I mean?
Oh, we're on.
So what are we talking about?
What's react like the communities?
Like was there certain community members from his infernum set?
I never touched Infernum personally, so I don't know.
And I'm assuming most of that came from that side over there.
Because I don't think any of the GMC members, even the syndicate members in our chats
really had said anything negative.
after after hashi died obviously we all had our our our our our our our our our say's to hashy when he launched that third collection on on everybody's heads so
Are you talking about from that community in general, like about his death?
Where people are talking?
Yeah, that was mostly where it came from.
Yeah, exactly.
So like, I mean, again, that I mean, again, the launch of that must have like,
they come out the left field a little bit, did it, I guess?
Well, considering he had disappeared from GS for a while and then came back and then
said he was launching another collection, it threw some people for some loops, you know?
To be honest, I probably, to be honest, guys, I'd probably not, I'd rather not even discuss that kind of shit, especially, you know, I mean, right after this, just to be honest, but you're, I'm, yeah, I don't really want to have a conversation about that.
I know for a fact that, so I will say that, like, I don't know, I'm not going to say anything on that, man, I'm going to, I'm going to keep my mouth shut.
Also, I never minted any of the infernoom.
I don't know for me.
it wasn't that much like the math was not a math thing.
It was just like I couldn't clearly understand the use case.
So I stayed out of it.
For me, the use case for GMC is quite clear.
The use case for the Galactic City, it's quite clear.
And, you know, at the end of the day, we are all humans.
I would like to believe that the majority of people that actually invest in crypto, they are adults.
So they are in a position to make an informed decision on whether to invest in something or not.
And, you know, they are 100% responsible for their own decisions.
They believed they used case for Inferrum.
They believed that there was going to be a trading bot.
They liked the art.
They bought the art.
I mean, why should they now come back and say,
oh, this happened, that happened, or something else happened?
I mean, come on, people.
Are you an adult?
You had money to invest.
The most basic thing I heard a few years back when I got into crypto was
you should never invest more than you can afford to lose.
So that's that's...
Also, we say you can't borrow conviction.
So like you can't you can't say oh well such and such like told me about it like you can't borrow conviction right so it's the same thing yeah
exactly and what I have to say is that
You know even though I was in crypto for quite a bit and I come I do come from like injective communities
I was also you know
moderating at the dojo and everything.
And I do enjoy my time in crypto.
It was one of those spaces with Hashi and Fox when I saw the GMC art and
After like a four-year hiatus, I was like, I absolutely need some of those NFTs.
I am absolutely going to die if I don't get those NFTs.
And 62 GMC NFTs down the road, I am still saying, oh my God, I need so much more.
So whatever people have to say about Hashi is...
the passion, the chemistry that he had during spaces and how to explain things and how to bring people in,
we've got to hand that to the guy. And, you know,
Like you said, like we are all saying, you know, we each make our own decisions.
We each make our own decisions as to what and where to invest.
So we can't then go and say, like you said, oh, somebody told me this, somebody told me that.
I am doing this.
I'm doing the other.
It's all your fault.
It is what it is.
And, you know, what happened happened.
Of course, it's never easy to, for a young life.
to just go so soon.
And it was like pretty soon, I mean, I don't know.
Looking at his age, probably I'm like nearly old enough to be his mother.
And it's like, oh my God.
Nobody asked me how old I am, by the way.
So don't worry.
I'm like nearly 50, so you're in good company.
So anyway, what I think we need to go back now and think that
The guy was a visionary. I mean, get some NFTs. There are some mining rigs.
Not only you hold NFTs, they have utility. You get your weekly BTC rewards.
I mean, I think there are other projects right now that they're trying to emulate, but not
at the level that, you know, what was happening last year when in February,
2024, when GMC started a minting.
I, yeah, it was, it was great.
What happened happened.
I think, you know, after all said and done, he has left the legacy behind.
and nobody can actually doubt or question that.
And I am really positive and hopeful of the projects.
well well actually on that note no you've you've timed it perfect so i'm just going to say that
i do want to send out our regards and respect to jmc because like i said i hit up foxy
says can you get the team on obviously we lost c's jump for a meeting or whatever i was like
yeah can you get the team on it clear the airspace in
And this, you know, we never want to do a disservice throughout audience.
We've got some chads in the room and like if you look down there,
people who are vested in these ecosystems, you know.
And so therefore there was always going to be, you know,
maybe a couple of clunky or awkward questions.
But I thought about this.
because we've got Jake the Sharman coming up in 10 minutes, basically, I think it is, 10, 11 minutes.
We've got like back-to-back interviews, which I'm really looking forward to do.
I wanted to say this.
NFT, if we look at it, look, let's look at the value prop, right?
Okay, you know, you've, you've got big collections, big numbers, right?
They're minted out very quickly, you know, blah, blah, blah.
You've still got people collecting, etc., etc.
You know, there is like a strong undercurrent or base there.
But I think, like, if I look at the NFT projects,
There's nobody out there that needs a kind of like, I don't know use the word white paper, maybe like roadmap, I don't know, maybe skid map, skidmark, I don't know, you know.
You need, do you feel, you might not feel this mind, Matt and Foxy and the concierge.
You might not feel this, but do you feel like you need like strategic goals, targets that you need to be like really working towards?
I mean...
So if we would just say draw a line in the Santa Day on the entire project and say, right, everything moving forward, right?
Everything that's like happened before is gone.
But moving forward, right, what are the objectives?
What are the goals of this entire like thing?
I mean, who wants to go first?
Because that's a bit loaded, but I want to know about this skid map, roadmap, whatever it's called.
Okay.
Okay.
I think I'm bubbling incessantly and I don't want to get people to get bored, but there is some tentative plants in the works.
Of course, the main focus of GMC is mining.
So right now we do have some defy positions, but we're also exploring a couple of other possibilities to raise funds.
in order to get more weeks in.
One of them that we are like debating.
Actually, we have a medium article out for that one.
It came out a few weeks ago because it was quite long,
but we did make a post about it on our
have you had any discussions about resin yet or not we have had several discussions one of the options was to you know issue a token either via offer Dow or via stream swap and this would be like your share of let's say mining rigs
With the fans raised from the token sale, we will get more mining rigs in.
People holding the token will get some mining rewards.
Some of the rewards will go to the treasury.
Some of the rewards will go to GMC Stakers.
We had like that breakdown.
There were some discussions there.
Some people of course are hesitant about, let's say, doing the token thing.
you know, maybe some PTSD from the stream swap or something else.
However, for me, it's better to say, here it is, we're going to do it via like a third party, third trusted party.
So, you know, it's not like we're saying, give us your money, and then at some point we'll
give you a token or at some point, you know, we'll buy more mining rigs.
So one of the discussions is that.
There are discussions, but it seems that it might happen at a smaller scale, will be to run raffles.
maybe have like a GMC inspired NFT, the same, being launched on Stargays, and that would be your raffle ticket.
Some of the funds will go back to, you know, the raffle winners, and some of it will go to the, to the treasury.
So I guess...
If the main aim is to, you know, mine stack sats, then the way ahead and to stay true to the original vision is to get more mining rigs in,
mine and hand out rewards to our stakeholders or to our token holders.
And for me, there shouldn't be any deviation.
We've heard people...
tens of times saying, I am here for the mining, I am here for the rigs.
So this is what we need to do.
Do you know what's interesting though?
What you're talking about, right, is like almost identical to running like a proper normal standard business, right?
And the thing is, isn't it, is that you haven't been able to run it like a proper business like previously because of all the situation.
So maybe now is the time to make sure that like 100% of the people who are involved in this project understand that this shit needs to be run like a bloody proper business, right?
Yeah, I totally agree with that and I think the team is very dedicated there.
Some of the people here might or might not know, but I actually come from a legal background.
So I'm not saying, you know, I'm not alleging that I know everything and I understand everything.
But yes, it needs to be on a solid base.
So people know that we're actually to one level we're talking business and we want to do our outmost to run this the best way we can.
That's why, you know, we didn't outright go out there and launch the token or we didn't do the raffle.
That's why we are putting, you know,
articles out there, we want to get community feedback, we want to engage with the community,
we want to see what the community wants. That's important for us and at the same time we need
to be able to manage this and I guess what you say running like a business for me is that
we run it.
in a way that we take the community into consideration,
but also about all, we also need to be held accountable
for the, you know, for the fans,
and everything, and accountability,
it's very important.
Yes, and you know something when, like,
the thing is, often, and Finn coined this phrase, right?
This was originally Finn, like late 2022, I think,
when we first did the thing with the rec guys, you know,
you've got to be very careful of what we call communitility.
where the community becomes the utility and that's not GMC.
So when I was talking about like a proper business, etc.,
that's like what was kind of like in my mindset.
Yeah, you've got a great community which everybody needs.
But that's not the core of your business prop.
I mean, listen, we've got, because we've got Jake in a minute, the Sharman, this will be great space.
We've got about five minutes.
I just want, like Matt, you've listened.
Your woman's being fantastic.
By the way, contingency.
Amazing.
Matt, you want to jump in?
Oh, sorry, Zavann.
You can call me.
you can call me conci and uh sometimes i talk too much but uh thank you for no no you're all right
cons is it the like the the mafia thing is it con yeah the devil's advocating in in you know in the male is
conciliere and the female is conciergera
I thought as much, I, what was he called, the actor Tom thingy and the Godfather?
He was the...
Oh my God, he was amazing, wasn't he?
Stop, that's my favourite movie of all time.
In fact, I love the book by Mario Puseau.
The book is like so different from the movie, right?
That's a fucking amazing book.
Yeah, movie-wise, I think I preferred like the number two, so not the first one,
but, you know, that's a matter of personal...
You know what was the first ever sequel to win an Oscar?
Probably that one.
The Godfather, oh the Godfather.
Everybody, everybody knows the Godfather 2 is the best of them all.
Yeah, and anyway, you know, my roots are not Italian.
My roots are like a Greek, but I like the name, so anyway.
Matt, over to you, I'm sorry for, you know, budging in and whatever.
Or you've been, or don't start, you're being gas, you're absolute gas.
Stop, stop, you've been a brilliant guest, Foxy.
I'm so glad you brought everybody along.
But yeah, Matt, we haven't got long, so let's give Mike, Matt some, Matt some mic time.
No, she's great.
That's why we love having her on the team.
She can talk forever.
But yeah, I guess my closing thoughts there is just a tag on to what Kanti was saying about, you know, our next steps.
And what you say for like a roadmap, I mean, roadmaps are, you can see, they're so goddamn hard to do.
It's almost like you have to have a living roadmap at these type of things, because things change.
You know, you got to adjust.
how market conditions are going and all that.
And if you, you know, a lot of people read into those white papers way too much of,
that's, that, that's what it has to be.
But what if that doesn't work anymore, you got to be able to adjust.
So, you know, mining is what everybody wants.
Mine more mining is what we need.
And obviously, you know, if people want to be rewarded more,
we have to get more miners.
And with a collection that's sold out,
You know, you have very limited options. So, you know, the biggest thing the community didn't want was more art. So no more GMC NFTs, no little sub collections, sister collections yet. You had the GS, but, you know, that's supposed to be its own NFT collection, you know. It's not.
actually GMC, you know, they're very separate, you know,
GS is injective and galactic mining is Bitcoin, you know.
So our biggest thoughts were, you know, token launches is the easiest way to get funds
and be able to reward those people who invested more into the GMC,
because, you know, it's the easiest to keep track.
Kepius, you know, RP Dow had launched something where you could buy shares into their miners.
And this would be kind of the same, you know, they fed off of us with our Bitcoin, and we could feed off of what they did with their tokenized or stakes or whatever they had done and do this as well.
You know, I get the point. Some people just don't want to see a token launch and all that.
There's been some very bad ones.
I think to calculate the rewards for the extra investment.
That's the easiest route to go, you know, with,
because the other one would have been NFTs.
The NFTs and stuff like that.
The NFTs are probably not the best idea.
The best idea would probably be to get access to a market
where there's like a hungry secondary
like you were talking about moving them from like one chain to another or whatever
bro I never ever ever want to cut people off but honestly we're backed like back to back
interview yeah
I know.
I know.
It's Paddy.
It's Paddy.
It's hard is so little when you can really get talking.
Nate, we were late as well.
We were late because cases wasn't working.
The thing is, we've been trying to get Jake back on since the election.
Last time he's sport room was the Julian Assange.
Pardon, dear.
Anyway, I'll tell you what, Matt, you're a great guy.
Come back to Rec FM and have a bit of normal crack with us, right?
Absolutely. I see you guys in the morning on here. I'll pop in every once in a while and we can shoot the shit.
Oh, and consig, I, consig as well. Come back, darling, when B bands and kids in the room that love you mind.
Right, I'm getting notifications. I want to go to Foxy. I just want to say, Foxy, thank you very much.
And I'll say at a jump. Thanks, brother, for putting this together. It really means a lot. Like, I've really enjoyed this, brother.
Thank you guys for having me and thank you guys for continuing doing what you do man.
Always been a fan so.
Oh well you're part of the family aren't you?
I mean look you've got your name printed on the metadata.
No one's deleting metadata bro you're on the blockchain man.
You part the family and on that note people it's late for us right here it's 12 o'clock midnight strikes midnight.
I'm like Cinderella aren't that?
Jumping from space to space.
But yes, it's been Rack FM. This is March of 17th. That's right, 2025. And this has been your host Robo left on his own, B-bands on the blocks off like selling containers and shit. But yes, good night and God bless wherever you're on the world. Take care and join us on our next space, which is starting right now.
