G-E-M. Let me invite people up.
Ben, you should be a speaker now.
I am. You will not regret this.
Oh, no. Alright, who else am I inviting up?
For some reason, there's like a thunder. There we go.
Keep listening. I'm ready.
Alright, I was just on a Zoom call with about 50 other people, and I told them all to show up here, or my family will be gravely disappointed in my performance in life.
Let's see if they show up.
Who else are we weighing on? Mr. CBS is up here.
Oh, sorry, Magnus. We'll bring up Magnus.
So Kata has been invited. And who is the other one?
Kiazuki with the killer shades named Magnus.
And also found them the floor protocol account, which is currently.
Yep, yep, yep. Oh, we're looking good.
All right, let me pull up the agenda here.
Get my teleprompter ready.
So Joe said new Twitter space studio you decked out.
It's so stupid. It's so stupid you can still only do it on your phone. I don't know why you can't do on your computer still but it's whatever.
Yeah, for the people in the audience we spent like two hours preparing for this going over what we were going to do what time something was going to happen and then right on the hour.
I get a message saying I'm not logged in on my phone, can't start the spaces.
I'm used to having Chad helping out on these. Okay, all right well we'll get started won't keep everyone waiting but I'll start off with a little bit of introductions because we've got a bit of a dream team going on right now.
So obviously we got myself I'm anonymous. No, it's Josh from the team.
We got Big Ben. I'm sure a lot of you know is leading up our ecosystem.
We got the one and only cold blooded shiller for some trading insights as well. We're going to talk I think about quite a few things.
Okay, and then I'll let I'll let the floor and protect introduce themselves so over at floor protocol. Do you want to go first and Kata and Kata.
Yes, I'm sorry. I'm using my mic.
Okay from floor protocol.
NFT index token, and one of the first protocols to
sustainably be able to run fractionalize NFTs for the medium to long term, and how we've done this is just true incentivizing true.
The equity mining of FLC and FLC is the is the index token that's that's being rewarded and
did you just get off a treadmill, you sound like you're a little bit out of breath.
No, I was just trying to unmute my mic on the whole time. It's just not working. I had to press it like 1000 times.
Everyone's got technical difficulties today, I think.
That's the norm for Twitter spaces. Magnus, why don't you go ahead.
Yeah, sure. Hey guys, name's Magnus from protect labs one of the co-founders so we're an NFT focus market maker. And yeah, we're basically helping provide liquidity in our algorithmic fashion on we're, and yes, stoked to be here guys.
Appreciate you having us on.
Awesome. And Kata, do you like to introduce yourself?
Yeah, hi, everyone. I hope that everybody can hear me. I do have some technical problems as well. So I'm kind of from a 3D co-founder, basically, it's a unique crypto trading platform that helps traders perform better to the fact that we have
quite a lot of features that help them improve their trading and, of course, profitability. Happy to be here and discuss with all of you guys.
Awesome. CBS, do you want to maybe say a couple words as well? I found out today, actually, that you're a bit of a NFT DJEN, maybe early in the space.
Yeah, I mean, that was that was something that, you know, I was, I always, I don't know if I consider it like a badge of honor, but I was relatively early in terms of the NFT cycle.
And so I actually benefited a huge amount when it was one of those times that I was I was early. So I didn't have to I didn't have to chase the pumps, like, like a lot of people.
So for me, it was actually kind of a very, very lucrative patch of time. And, you know, in my in my approach in general to crypto, I am still a very firm believer that the NFTs have been kind of the biggest normie net positive draw that we have in this space for a significant number of years.
So I have a lot of a lot of love and passion for the NFT, the NFT space.
Awesome. Yeah, I think we'll probably dive in a little bit as well later on about some of those crossovers between like what the normies lie.
But then also, you know, you've got this kind of complete other side of the space, which is the CFI trading side, which obviously, you know, yourself, CBS, you do a lot of.
And I think, you know, one thing with this kind of partnership across all these different projects, which we're doing right now, it opens up some very interesting opportunities that, you know, with the fraction lies, tokens, with the liquidity and obviously with products like Ltrady being able to use quite advanced tools in order to actually trade like the floor of an NFT, essentially, without having to, you know, at the moment.
I don't know how much my penguins worth at the moment, but spending, you know, a lot on a single NFT, and that wasn't a flex, by the way.
So, I mean, yeah, since this kind of all revolves around kind of the fraction lies, NFT side of things, maybe for protocol, would you do you want to like introduce kind of what they are exactly maybe a too long didn't read a little explainer?
Basically, every NFT is every you token is every 1 million you token is minted per NFT deposited on to floor protocol. So they're all like fully back. There's no fractional reserve.
And how we incentivize users to deposit the NFTs is to have a liquidity mining program where the people earn FLC when they provide liquidity on on on FP.
You know, for those people who are not so familiar with defy an NFT, we have another program called a earn program where people can single stake the NFTs.
Basically, it will do like it would just do like a conversion in the back end for them to become you tokens, and they can single stake those you tokens to an APY based on the redemption fees that are happening on floor protocol.
And I think this is a pretty sustainable method at the moment, even, even though our like LP contract isn't like perfect at the moment, we're still working on it and LP 2.0 is coming up.
Right now, lots of bots are taking up the like this super super concentrating their liquidity on certain points, and it's preventing more people from participating because the APY is lower due to the high concentration on V3.
So LP 2.0 is supposed to fix that. And the APY for everyone becomes a lot more like, you know, attractive throughout the board right now it's like, right now maybe the APY is like, say like 150% for like body apes, if you were to do like a wider range.
But you know some people who are hypo centralizing the liquidity would get like maybe like 800% to like 1500% which is like ridiculous for like body apes.
Because it's a very like generally very non volatile like product I mean it's kind of crazy that we say like NFTs aren't volatile these days because like, you know, they used to be like on the news for like doing crazy swings and things like that but the market is different today and
with that we have to come up with a new product that you know creates a more even playing fields for like both experts and like beginners who want to provide like liquidity on floor protocol, but essentially that's how we are incentivizing people putting in the NFTs on
FP and you know we want to make sure that everybody feels comfortable with, you know, the risk the rewards you know like we're trying to make sure that this is as safe as possible but you know with every protocol, there's always risk involved, but we're always trying to minimize that for everyone.
Yeah, it's interesting what you said, because NFTs, even though, you know, they're pretty easy entry for most retail participants.
There's also a side of things where, you know, like we're a lot of these kind of top tier collections, it's pretty priced out for most people in the space.
And I feel like, you know, on the other side of retail, you've got guys like protect. So I mean, I might swing you guys a question actually, like how does an algorithmic trading firm, like get into providing liquidity on NFTs.
For us, I guess, the way that we look at it. It's kind of like just addressing the liquidity issue as a whole, being able to fractionalize all these like high ticket items is something I think is definitely needed to kind of like, I don't know, open access to some of these,
like pudgies or board apes, etc. Right, because it kind of allows people to partake in like the upside of these various brands. Because normally, before all of this, most people will be priced out, right.
So for us, it's all about just being able to do it in such a manner where, you know, we keep the spreads tight. And then that allows people to actually enter and exit at a fair value, you know, in conjunction with whatever's happening in the market.
And yeah, I think there's a lot of users that are definitely like being hooked up as the days go by.
But for the most part, I think people are just sort of starting starting to recognize just of the capabilities of all these different like you tokens. So, yeah, keen to see more activity happen.
And, you know, for us, we just want to make the market more efficient and make it make it more open, openly accessible for everyone. And yeah, glad to be here.
Yeah, it's one of those things like I'll be keeping an eye on like a NFT price or something I don't necessarily hold. And you kind of have that inclination of the direction it's going to go.
But it's quite hard to physically trade that, like it's hard to short it or long it or, you know, maybe you don't want to put in like bids that are $30,000, $40,000, whatever it might be.
I mean, CBS, did you ever try and do that sort of trading or have you always been sort of like a buyer collection you think is going to go up or do you actually try and look for those kind of opportunities?
Well, I think I think the markets, you know, change considerably, you know, over over that span of time. So when I was when I was first, you know, kind of getting into into the NFT space, you know, everything was very, very kind of low liquidity.
And also, you know, we were we were very much in the kind of the the minting hyper phase, you know, so that that was it. We were going purely off what I what I always turned aside the vibe check of a project.
Right. So that's what we were. That's where you were basing it off. It was like, you know, is this going to resonate with the audience base and pretty much anything during that that kind of NFT summer was pretty much mint 3X and then and then resale.
Like the the environment that we find ourselves in today is significantly different because essentially what we have in in NFTs is like an order book, because we have so many basically bought bids in there.
We have collection bids, we have incentivized collection bid. So we've got this far greater kind of ecosystem and structure that's based around NFTs.
So I think you can actually do a lot more when it comes to, you know, actually thinking about what a kind of like a bidding or a buying process looks like.
And especially when you're talking about kind of like, you know, staggering bids or looking at getting in on on dips in in particular collections. It's you know, it's significantly different in in kind of this this 2024 era.
Yeah, absolutely. I saw Ben patiently at his hand up earlier. So I'll let him let him chime in as well. I've never felt so ignored in my life. I wanted to before I hijacked the spaces. I actually did want to ask like this, like, at what point? What was the trigger point where they're like, right? I'm an algorithmic trader. I'm very good at this. I'm going to tray. What am I going to trade NFTs? Like, what did that transition happen for you?
Well, for us, I guess, like myself and Chris, we've always been big fans of NFTs, right? And like, for us, it's predominantly just like partaking in like an ecosystem that we found like enjoyable and fun, like, especially with the cultural elements. So, you know, we formed up protect mainly because we felt that liquidity was something that like NFTs as a whole kind of suffers from in terms of like, you know, inherently it's baked in with people.
Apparently, it's baked in with rarity and everything, you know, traits, all that type of thing. I feel like with the way that like, floor protocol has, you know, by fractionalizing everything, it kind of flips everything on its head, tries to treat everything the same. And I think it's kind of helpful in the sense of like, you know, since most people are generally priced out of some of these big ticket items, I think it's just great to be able to like, you know, capture this like upside of brands, right? So,
I hope I kind of answered the question for you. But we got into this initially, because, you know, we enjoy JPEGs, basically.
Very cool, very cool. I'm going to hijack it for a little bit, just to talk about kind of what brought us all together. I don't know if anyone's even mentioned that yet. But for a long time, WUEX as a C5 platform, you know, we've always tried to find things that solve traders needs.
And one of them was the lack of this NFT marketplace. We saw competitors like Coinbase spending millions of dollars and putting together a product that either doesn't add much or just doesn't have any traction at all.
So that was the direction we didn't want to go. So we found the floor protocol solution with U tokens, we thought it was actually very elegant, and it fit the style of our traders, a lot of order book traders.
And so it actually solves a lot of problems too, right? Because like we were talking about being priced out, now users with U tokens, they can, you know, trade up to one millionth of an NFT at any time.
So we became the first exchange two weeks ago to list these fractionalized NFT collections with Pudgy penguins and board apes, the fractionalized version of them.
And then Protect Labs is one of the key liquidity providers on these pairs. So you can trade it just like any other fungible token on WUEX.
And so we're quite proud of that. And it opens up a lot of avenues for us to reach new communities and grow.
So that's what we're going to be looking to do over the next few months, hopefully listing more collection, doing some more events, be it online or offline,
and reaching out to more NFT communities.
Yeah, and so another person we had on today, obviously, Kata, from Altrady, and I'll let him talk a little bit more about this as well, right?
By virtue of being on a centralized exchange with API infrastructure and connectivity, we have lots of integrations already.
Users can actually use Altrady to do a lot of different things with NFTs that you wouldn't be able to do in DeFi.
So maybe it's a good chance to let him talk a little bit about that.
Yeah, I've just invited Kata back up to speak. I think he dropped out, but I've sent you a little invite there, Kata, if you can hear me.
Yeah, that was definitely something I wanted to touch on because it's not just about the fact that, oh, yeah, you can trade it on a centralized exchange,
but that unlocks this opportunity to use terminals like Altrady, which have even more advanced order entry functions and trading tools.
So you can actually end up getting quite a lot of edge on trading NFTs you might not be able to get elsewhere.
But I see Kata's up now. So, yeah, Kata, I'd love to hear your thoughts on this.
Are you able to speak? You should be speaking now. You might just have to unmute.
I'm going to have to spam the button.
Yeah, he might just be having connection issues still.
Well, Ben, maybe we can always swing back to Altrady in a bit, but maybe we can go to one of your nice roundtable questions I see on the agenda here, which I quite like.
Do you want to take that?
Oh, I thought this was unscripted.
I mean, never mind. It just came to my mind suddenly, this amazing question.
Well, I'll take it because I think Ben will probably have some nice insights and I'm a bit more of the pleb kind of alley-ooping everyone up.
But now that there's this opportunity to trade these sort of tokens on centralized exchanges, how hard do you guys, and this is honestly for everyone to chime in as they please.
So how hard do you think it might be to attract kind of maybe these more traditional centralized traders who don't usually touch DeFi and aren't really integrated in those kind of typical DeFi communities?
To kind of get more driven by these sort of social factors and maybe take interest in these sort of markets.
Maybe I could start there. By the way, I think Kat is back. You can try to bring them up again.
But in the meantime, I'll just answer that question.
I think one of the things we looked at when we were launching these U tokens, these fractionized NFTs on WooX was would there be a market for it, right?
Like do a lot of the NFT communities, they love NFTs, they prefer trading on DeFi.
And then for the centralized traders, a lot of them, we had the assumption that a lot of them might not be that connected to the NFT world.
Therefore, they wouldn't have strong opinions about price movements for NFTs.
And so thinking about how to educate, how to bridge these two so that they came closer together.
Although it's interesting, at the start of this call, we learned that CVS was in fact not only a very large DeFi trader, he's also a big NFT holder.
So I think some of that thesis is now false. But I think it would be actually good to hear maybe CVS's thoughts on that.
Like how do we make it so that these NFT collections are more front and center in what a centralized finance trader would trade?
Well, I think what we've got is, you know, from a kind of like just a crypto trader mentality is one of the things obviously we're always looking for is volatility.
So, you know, the majority of everybody in this space is going to be aware of NFTs and they're going to be aware of the various cycles,
they're going to be aware of the collections that are popular.
And I think now actually just having a mechanism to be able to more actively participate in those markets,
especially for people that maybe don't want to become NFT holders themselves or want to take advantage of the price fluctuations.
You know, that's really, really what you're looking at here.
So I think that we've got the chase from traders for volatility and for value in the market.
We've got a market that operates on the same premise as every other market in terms of simple supply and demand.
And now we have a venue in order to be able to trade and take advantage of that.
So I think really you've got a marketplace where people are aware of the NFT side of things,
whether or not they have any interest in being a collector as such versus now just being able to simply take advantage of the price movement.
So I think that we'll start to see a transition of people who will become interested in looking more into that space
and especially as we see kind of volatility and movement in price return,
especially as we have with pudgies recently during a pretty heavy ramp up over the last few months.
Opportunities like that, I think you'll see people gravitate towards.
And, you know, especially depending on the way our market cycles work, you know, historically we've had NFT prices doing well when ethers remain relatively stagnant.
So it could also provide another opportunity for traders when crypto markets are doing one thing, but NFT markets are doing something else.
It allows that expansion out.
Have you had a dabble yet on the U tokens on WooX?
Yeah, so I haven't dived in yet.
But yeah, OK, yeah, I mean, that's probably not the answer.
But I will make it my solemn promise to go ahead and drain the order books of everything I can after this.
I quite like that approach as well because that was definitely what we've seen more recently was like typically I always saw NFTs as kind of like ETH beta.
But then lately there's been I don't know decouplings the right word, but they held up surprisingly strong when the market was not looking so good, which is obviously you know, then it presents like hedging opportunities, which is a really cool thing.
Like, you know, especially on an exchange like WooX, which is cross margin, you could have your active U PPG tokens acting as collateral for other trades and also acting as a hedge against other trades, which is probably quite a fun kind of fun way.
Yeah, and like I said, you've got you've got such an interest in landscape now in terms of, you know, again, historically, ETH value being lower always meant ETH collection NFTs were trading higher because it just represented greater opportunity for people.
So that kind of interplay between the markets will also be interesting to see, you know, what impact that's going to have on a trading opportunity side.
Katha, are you able to speak now?
So yeah, we'd love to hear more about your thoughts as well, obviously on the things we just discussed, but also kind of on the opportunities that, you know, a platform like LTrady can change the way people trade NFTs and interact with NFTs.
You know, like I know Ben has currently got some grid orders on LTrady on the on the U PPG tokens, which is I think pretty cool kind of implication.
And indeed, I believe, you know, using LTrady for fractional NFTs basically gives you different different different perspectives.
For example, you can fall under the protection features of LTrady like automated tech profit or stop losses, which basically ensures that you won't miss, you know, your respective tech profit level or, for example, stop loss point, even when you are like working or whatever you are doing, you know.
Also, it's quite interesting because on the decentralized exchanges, basically it's, you know, you'll need to have to monitor the price of your NFT all the time to be sure to sell it in time before you miss any profit.
And yeah, there is something that, you know, that can can can leverage. And as you mentioned, yeah, you said about the grid boards part, but that's a very, very, very small part of what LTrady can offer.
And it's it's basically it's unique, as I said at the beginning, because actually it's it's for any type of trader.
If you are a day trader, if you are a bot trader, semi-automated trader, and the uniqueness comes through the fact that we started as a manual trading platform.
That's why most of our users that are day traders are considering LTrady as a day trading paradise. And that's because of the position management.
So, for example, when you are trying to trade, you know, your NFTs, in this case, yeah, you are able to set up multiple orders like leather orders up till 10 orders.
You are able to set up trailing stop loss, trailing take profits. We have protections. So it's a very, very unique.
I mean, it's it's something that can can can really boost the profitability for for for any type of trader.
And, yeah, you can set up not just the grid board that also you have the option to add the trailing up and down, but you can also set up your signal board.
You can, you know, if you have a different type of strategy and trading view, you can hook that through through a web hook.
You have the possibility to track all the portfolio. You can also add the cool wallet so you can see exactly what you have all over, all over, you know, and keep track of your your your your performance.
And there are I mean, I think it's a lot to talk, but definitely in this space. And I'm quite happy that, you know, people are now able to trade NFTs on on success.
It's quite of a big changer. And yeah, I believe that I'll try to do his part in in all these game changing part for for for trading.
That's awesome. So, you know, Josh, if your girlfriend left you last cycle because you spent all time trading NFTs, you can get a setup now and I'll trade with a bunch of different signals, grid trading bots, a few different trailing stop losses.
And you could just send a picture of that to her and make her jealous.
Oh, yeah. If that doesn't work, I'm sure she'll love the World of Warcraft.
Yeah, that would be great indeed.
So I was I was going to swing back to that question we were just like discussing before, because I actually really want to hear Magnus your perspective because, you know, protect themselves kind of went from one market into NFTs if I'm correct there.
So, you know, how do you see sort of I guess we're using this term traditional centralized traders kind of making that entry into this in this different market.
Yeah, I kind of look at it, I guess, from the sense kind of building on what CBS mentioned as well, like, oh, actually, maybe one of you guys kind of looking at it in a sense of like diversification.
It's kind of like an emerging asset class.
It could be something that's kind of like somewhat less correlated to, you know, the markets that we're used to, right?
You know, we're yet to see it kind of like take flight in its own type of like to see how it behaves in this upcoming cycle, just to kind of see how like its own price movements, etc.
It's pretty much like why we find it kind of exciting because it's generally like uncharted waters.
And, you know, not only it's something alternative, but I think it's it's there's a lot of like technological developments that are yet to sort of be discovered as well.
So I think there is a lot of cool stuff that's, you know, prospectively out there.
It's just a matter of us kind of coming across it.
Josh, I'll jump in there with one more question for Magnus, because I mean, you have a lot of time looking at, you know, building infra for NFT markets.
What are some narratives or trigger points that might send the NFT floor prices going up again as we move through 2024?
Yeah, good, good question.
Definitely see a lot of people talking about like with the gaming side of things, you know, there's collectibles as well.
And then it kind of brings in all this like legacy brands and stuff like in the way that doing like IP plays as such as like pudgies as well.
So I feel it's you can do a lot more like different elements when it comes to NFTs, I feel it's.
And then there's also like the aspect of even like RWAs and such, too.
So like NFTs as a term, I feel is a little bit too broad.
And it will definitely take time to kind of like define that into different like sub buckets as well.
But for the most part, I think like we're definitely moving in the right direction overall.
I was just expecting a straight a straight month date and entry price.
You got to keep it got to keep it open ended, you know, not locked into anything.
All right, Josh, I'll kick it back to you.
All right. Thank you. So I think, you know, one question that's sort of burning on my mind is like, what's the what's the end game for this?
You know, maybe how will NFT communities themselves actually benefit from these you token side?
I mean, I maybe it makes sense for you to have a crack at that first.
What your thoughts are on the end game here.
I think you tokens kind of open up a new dimension to lots of traders.
I think when people trade with just like numbers on the screen as in like, you know, like fungible tokens,
they don't like they they ape in like a lot easier.
And I'm not saying that like, you know, everyone is using them as like exit liquidity or something.
I'm just saying that, you know, when it's easier for people to come in, I think like the mindshare like the mindshare like capability is like increased like hundred for as opposed to like tokens that can only be bought like a very specific people in the world where, you know,
their reach like a lot of them might be even like passive holders.
But if you increase the number of holders by like all this magnitude by true like you tokens like everybody can own a few like especially in a bull run.
It magnifies and amplifies success a lot for NFT projects, in my opinion, and we're working with a lot of like projects to, you know, find interesting use cases for you tokens.
Like, for example, like some gaming companies, they are willing to like use you tokens as like, if you have a certain amount, you get like certain like benefits, etc, like something like that.
And for other projects, like you have a certain amount, you can get into like certain channels in the group, like, like alpha chats, something like that.
I mean, it's a lot of it's a lot of it's a lot of ideas that are just like a bit still like maturing, but I'm sure we can find lots of like interesting use cases for you tokens because you know it helps projects.
But at the end of the day, like it locks up supply, it pushes up like the number of like mindshare like community members people who will talk about it post about it and like share about it.
And also, if there's any additional utility on top of exposure that's just like the creep the like the cherry on top of the Sunday, and I think lots of like interesting things can be done if you tokens that we haven't really discovered yet.
And we are we're in the process of discovering inventing and finding out more like fun things we can do with you tokens.
Yeah, I think the key thing there is that besides the fact that it makes it much more tradable, much more accessible and lowering the price of entry.
It also is locking up the supply right so there's actually on the on the DeFi side inside the smart contracts there are bolts.
And so those are filling up as demand for you token increases on centralized exchanges those vaults are filling up with actual NFTs from the floor of these collections.
And so right you're you're actually bringing up the floor so it's very beneficial to these communities to see that happen.
And I think, you know, there's obviously a lot of space in see fi to expand. I mean right now we're the first we're the only one's doing it on the work side.
Hopefully, we remain the dominant player but you know, as for floor protocol themselves.
There's a good chance that this liquidity grows and eventually becomes much higher than the volumes and liquidity on decentralized platforms.
We were actually comparing our volume against blur. One of the first couple of days. And I think we were actually 25 to 30% the volume that the board age collection was doing on blur, which is quite impressive right.
And then you can think about it is actually very scalable to imagine a world where we start to far exceed the amount of volume and liquidity that's traded on centralized exchanges, you know, simply.
Well, a couple of reasons. Another reason I don't think was even pointed out yet that being priced in USDT on the centralized exchange creates a lot of arbitrage opportunities against the floors that are normally priced and eat.
Because if is fluctuating to the dollar, even if the NFT floor price isn't moving because nobody's coming in to buy these assets.
There will still be arbitrage opportunities that appear. And then this obviously creates volume revenue for protocols demand for the assets.
And yeah, just opens up a lot more market opportunities for participants like ourselves.
Thank you guys. Just wanted to shout out, you guys taking the whole other method to approaching NFTs is really like a kudos to you guys.
Because everyone is just trying to before you guys, everybody was just trying to build a centralized marketplace.
I mean, every marketplace is centralized, but they're just trying to copy paste the thing on their website.
And I think it doesn't help them gain new users through that way. And you guys are really taking the leap.
I think that's that's the command for sure. Yes. Leading the space.
It was all me. No, I think I think that I think there's a really interesting thing from both of your guys's answers there, because I'd always been looking this quite from quite a perspective of how it benefits like CFI traders and the opportunities that present CFI traders.
But there's this really cool like dynamic, like you mentioned there for the NFT and like space and communities themselves, like obviously, yeah, with floor, you know, that's a lot more of the entities getting locked up.
But then there's also more, you know, attention, traction, you know, more people trading. It's never a bad thing.
Like it's quite symbiotic. And that's not really like an angle. I've looked at it before.
By the way, just for everyone listening in, you know, we're coming close to the main agenda, but we'd love to take your questions. So please jump down into the comments. We'll take a look at those.
Maybe take the worst risk you can possibly take on a space, but invite people up.
We might even mind to entertain that idea as well. What do you think, Ben?
It's risky, but I mean, we have enough people here. So just kind of shove the question off on CBS. That sounds right, honestly.
It will be no different to my streams. So you don't have to worry about that. I'm all in use to that side.
Just had some conditioning done already.
I was going to say, actually, the numbers are actually quite staggering when you look at the amount of retail participants who are DeFi curious, but they don't have the confidence or just the risk tolerance for DeFi.
A great example is on the Wufi, which is our DeFi application for people who don't know. They recently ran a campaign on Binance.
They have this new integrated DeFi wallet, so it's like a halfway house between DeFi and CFI.
The amount of participants on that was staggering, right? There is over 300 or 400 thousand.
And the interesting thing about that is it's fully KYC, so it's civil proof in a way.
Like if we had run that campaign on any sort of decentralized counterparty, there just wouldn't have been that amount of demand.
So I think you can extend that into NFTs even more so.
And then just by nature of being wrapped in this centralized environment that they're used to and then providing them with tools that make it easier.
For example, things like LTrady or even just the interface on these DeFi platforms.
I think there's a chance for a lot more capital to flow into the NFT space, which should make things interesting for people who are bag holding their JPEGs from the last cycle.
Go ahead, Josh, back to you.
No, I was just going to say my capital is going to go straight in and straight out when I get liquidated.
Well, we don't actually have perps or margin enabled on these yet, although that would be an interesting thing to discuss for a future update.
But in that case, you may be in trouble, Josh.
I'll still find a way even if it's spot only. I'll figure it out.
So let me take a look at the comments. I think it's literally all spam, like a drop.
Apparently, there's a great drop going on there. It's definitely real.
If anyone feels like getting fished, I just open up these comments, to be honest.
I mean, actually, I might bounce that. CBS, do you have any opinions on kind of how you see the endgame looking like, I guess, you know, for NFTs, but also, you know, maybe how they work.
Do you think that that space is going to become more centralized and, you know, there'll be more of a pivot in that direction?
Or do you see them kind of being living side by side? I'm curious.
Yeah, I mean, like side by side, I think, is probably going to be the way the product is going to be taken in terms of, you know, the opportunity for creating some additional value there.
And I think, you know, one of the things for me that I think is really interesting probably for the majority of, you know, traders who are thinking about, you know, getting involved in this space primarily,
is, you know, I think, I don't know, maybe six or so months ago, maybe a little bit longer, we started to see people doing TA on NFT collection charts.
And like when it dropped, like when people started doing that, they would draw like diagonals alongside, you know, the floor price and people would meme it, right?
Like it would just get mean to play. What are you doing? You know, doing your TA, you're drawing like your Elliott waves on some NFT collection.
But the way that that's developed, you know, is actually something that is actually usable because the same underlying principles that apply to technical analysis are just based on the fact it's the supply and demand driven market.
And when we see the opportunity to be able to, you know, take advantage of the demand exceeding the supply, and it gives us that opportunity to do so.
So one of the things that's kind of been interesting for me over this patch of time has been seeing the way that, you know, there is actually like kind of applicable usage to some of those fundamental concepts, but within a brand new kind of trading space.
So, you know, I would kind of encourage people to, despite the memes, kind of like hop in and see what you can discover there because actually a lot of it is very simple.
And the kind of the principles that are surrounding that kind of demand and supply for the NFT side of markets is like slightly different in terms of what's required to shift those markets and the snowball effect that we can see in terms of demand growing quickly.
And so again, for me, it just like the whole space is just a really interesting one and one that potentially offers quite a bit of value.
You're muted there, Josh was, did you just come in and say agreed and then you just came in and said agreed and was praying to it on mute.
Might be the worst host ever. Between that and your snafu at the beginning with your phone login and this.
The teleprompter's finished now.
You talked about me getting fired. I think I think you should watch yourself.
I'm an unpaid intern that can't fire me.
Yeah, maybe we swing it back around as we're getting pretty late into this and if nobody wants to drop any comments alongside those phishing things, we can swing it back around and see if anyone has any clothing closing clothing closing thoughts.
Before we do that, I did want to give a heads up for something that's coming down the pipeline tomorrow. We're doing a bit of an interesting thing. Speak of the NFT space.
With the Pudgy Penguins community, we're going to be running something called the Pung Pal Mafia, which is actually a play on the PayPal Mafia.
A group of innovators who are very early developing PayPal and then obviously they went on to do amazing things with guys like Elon Musk coming from that.
So it's also just showcasing the builders that are in the penguin community and there's quite a lot of them.
So layer zero will be joining us. Falcon X, which is one of the largest pride bokehrs, one of their team members will be joining.
So just talking about that and instead of just showcasing the kind of a meme side of NFTs, which is bag holding your NFT and praying that the floor pumps, actually showcasing that there are people who are building and doing a lot of cool things in this space.
So feel free to join us same time tomorrow for that conversation. I think it could be quite interesting, especially for the penguin lovers out there and I do see a few in the audience.
But yeah, now I'm going to hop on mute and I will let you take back over Josh as we close it out.
Yeah, I mean, is there any other closing thoughts anyone wants to add some last little shout outs from many of you?
Maybe it'd be good to let Kata, because he has a user facing program that people could get involved with, maybe share some information on how people can use it.
Yeah, also I was thinking a lot about what was discussed today and I can give you a very short example when I was asking people from our community about the idea of trading fractional NFTs.
People were not aware about that. Now they are. We've done our part. So I do believe education is something that will really help the entire industry towards this fractional NFTs.
And on our side, we are trying to do our best to be able to help them.
Also in Ultra ED, we add everybody has the paper trading, like the free feature. So pretty much we are trying to encourage that and let people learn how to trade, have a plan.
And after that, getting step by step into the Ultra ED platform.
But definitely you need a plan. You need a risk management planning as well.
And the beauty of that is that pretty much you can have that in Ultra ED. So besides the smart trading that you can set up, you have a ton of other features that you are able to do that.
So if you go to Ultra ED, for example, and just try the platform, definitely you will see that you have a lot of options that will have to be discovered.
Definitely we are going to be around you. I'm going to help anyone setting up everything.
If it's a single boat, a QFL boat, think about how it would be to do a DCA for the fractional NFTs. That would be super cool.
Definitely there are many, many things that you can do. And when I was thinking about the risk management, yeah, definitely everybody trades, they know how important and relevant is that.
And in Ultra ED, we have some proprietary tools built specifically for that. You don't have any other place. So definitely it's a game changer for anyone that really tries to have a boost in their trading.
So yeah, getting back to that, that's why we believe and the way we build the platform was towards educating. Even the way you trade on the platform, everything is visual because it's way more easier.
I do want as a trader to see where I place my trades. I do want to edit them super fast. I do want to be able to edit the boats extremely fast, to make changes, to track your position.
The position management is crucial to be able to also see your P&L in real time, to get alerts. So yeah, definitely it's something to worth looking at.
And as you've been mentioned, yeah, we definitely will try to also maybe have some screenshots or things, probably going to launch a video that we can share on providing way more visibility on what people can do using our trading.
That's awesome. You actually mentioned another use case, which we hadn't talked about. For example, if someone was trying to, they wanted to buy a specific NFT, like let's say that a pudgy penguin in mine.
But they didn't have enough ETH to make that purchase. They could actually set up a DCA bot through something like LTrady, buying U tokens, right? Because U tokens, it's always 1 million U tokens equals 1 NFT.
So you could gradually accumulate the U tokens. That way, if the floor price starts to increase, you don't end up further away in not notional figures than when you started.
So I remember back when we were, you know, shilling the hell out of penguins last summer. I think they were like four ETH at the time. And there were a lot of people, sometimes like new joiners to who would come in.
And they want to feel part of the gang, but it's kind of like a huge startup cost to just eight four ETH and get a penguin.
And I know at least four or five people that ended up not buying one. And then they just watched the price go up and up and up.
That's frustrating. That's super. Yeah, I'm pretty sure it's frustrating seeing that and not being able to do so. And yeah, indeed, it's great to have that possibility now.
Yeah, exactly. And yeah, there was actually one person who bought an Azuki elemental. I'm not going to name you shame this one because they couldn't afford a pudgy and now they're the lone Azuki elemental on the team.
It's quite a shameful thing. Sometimes we don't like to mention the name on spaces.
Yeah, lots of possibilities. Why don't we send it over to Magnus over there for some closing thoughts before I keep saying clothing? What's going on? I guess I want some more merch.
Spicy take, actually. I actually kind of like the idea of you tokens because, you know, the fees and stuff, it kind of we've had this thesis of a lot of the royalties and such kind of trending towards zero.
And that kind of just changes up the landscape a bit. So that's my spicy take before we close off.
So one heck of a monologue. All right, why don't we send it over to floor protocol? Yeah, regarding the royalties thing, I think we are very flexible on the current environment of NFT trading.
If everybody goes full royalties, we can adapt. There are things in place for us to adjust. And it wouldn't necessarily affect trading on centralized exchanges, just like how certain derivatives might have, it's not derivatives, but just for example, they have a premium or discount depending on how it's traded.
But eventually, I mean, it does still have supposed to have a hundred percent correlation in the end. But yeah, I'm just saying that we're just fully prepared for whichever direction the market goes.
Even Solana had a point where everybody went zero royalties and then eventually went back. And they might go back again, but everybody's faster at depth.
Yeah, I think, you know, regardless of how it goes, we'll still have like, very, we still get a forefront of stuff.
Awesome. Should we close it out with CBS, Josh?
Yeah, do you have any closing thoughts on CBS?
Well, before we do just wanted to, sorry to cut you off there. I saw you coming up.
Yeah, if anyone does have a WEX account to check it out, you can find the ticker in the spot market for UPPG and UBAYC. These are for Pudgy Penguins and Board Apes.
Try it out, trade a few and see what it's like. Let us know. Obviously, the more, you know, volume and unique users who are holding the tokens, then the more leverage I have over my boss to demand that we do more of these innovative features.
So this is really something that I'm pushing for quite hard and to see adoption of it actually helps a lot. So that's my plea for help. If you don't have a WEX account, definitely sign up. Try that out as well.
You could probably use CBS's ref link somewhere, I'm sure.
Now we're talking. Now we're talking.
See how I tie this all together. All right, back to you, CBS.
Thank you. Do you know, you saved yourself then because my closing remarks were basically very similar to yours. So I was like, you've cut in front of me and you've given the same points that I'm about to.
But then you threw in my ref link. So all is forgiven. So yeah, basically, my kind of closing thoughts are, you know, when the market is a bit drier, like we have got at the moment where we've got these choppier conditions in the majors and everything's slowing down a little bit.
And, you know, kind of finding value is a little bit harder. It's actually just a really great opportunity to try and dive into something else. So again, kind of explore that that kind of those those words that you've seen online multiple times that NFT space.
And, you know, look to see if it's something that you can get value from, because also at this point in time, participant numbers are quite low. And so therefore it's going to be a good opportunity to potentially grind out something that's going to work for you.
In the current environment. So I would just kind of urge everybody just to hop in and to give it a go and start thinking about the way that you can apply some of your trading principles into a new space and what is really like kind of an uncharted space in terms of in terms of opportunity.
Love it. That's some good alpha right there.
Indeed. Should we wrap it up there? Yeah, let's do it. Let's wrap it up. So, again, thank you guys so much for coming on. Thank you, CBS, Floor, Kata, Magnus. Be sure everyone listening in to check everyone out.
Give them follows. We'll check out the products. Give them the follows. Use the ref code TeamCBS. Give LTrady a go. Check out Floor Protocol. Get counter traded by Patek.
Czar. Check out Czar, which is a NFT trading application right from Telegram. You know, it's the future of NFT trading now. You'll have WEX for the centralized U tokens. You'll have Czar for the NFTs themselves.
Yeah, thanks for the plug, man. Appreciate it.
Okay, awesome. Also, thanks everyone for listening in. Hopefully, we'll have some more cool spaces like this to come and take care. Brush your hair.
That plug was $20 is agreed upon, wasn't it?
Yeah, straight to my ELC20. Thank you.
All right. Good night, guys. Peace, guys. Thank you. Bye-bye, guys.