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THE DAILY ALPHAβ»οΈ
Recorded: Oct. 12, 2023 Duration: 2:40:54Space Recording
Full Transcription
Yo, yo.
What's up?
What up, bro?
Oh, I had a discussion with my supervisor yesterday asking why I'm doing 220 stops and 270 packages.
And asked him if he could possibly cut my route down tomorrow.
And he did.
So, I have 150 stops instead of 220 stops.
So, I'm feeling better today.
And then basically, do they allocate those, like, for you having seniority?
Do you, should you get, like, you know, a lesser route or something like that?
It's just kind of like if something's kind of bugging me, I usually, if I say something, they usually change it since I have been there for a while.
But you can say it's per drop, though, right?
So, it's kind of like a double-edged sword of not doing that many.
Yeah, exactly.
But, like, me, like, it's October.
You know, Peak hasn't even started yet.
Like, I don't want to get burnt out this soon.
Like, I'm going to be working six days a week here in a month with 220 packages a day or 220 stops a day.
So, right now, I'd like just to, like, have a reasonable day and not, like, out here until, like, 4 o'clock delivering all day long without stopping.
So, yeah, I talk to him.
And it's probably a little bit easier for me to talk today since I'm not just rushing around and trying to deliver fucking 35 stops an hour.
So, we'll be good.
Today's going to be a good day.
How are you doing?
I'm doing all right, bro.
I'm doing all right.
How is the rest of the move?
Is it almost done?
Yeah, I'm finishing everything today.
So, I'll be in the new spot by tomorrow.
Yeah.
So, it'll be nice.
Finally get settled.
And it's like a blur when you're moving and then, you know, you got all that going on plus regular life.
So, to be able to get situated again is nice.
Oh, yeah.
I feel that, my guy.
So, it's TDA, the Daily Alpha.
We run Tuesday through Saturday from about 9.45 to about 12.31 p.m. Central.
We appreciate all the people that come in and have notifications on right when we start.
If you wouldn't mind, could you like and retweet the space?
That means a lot to us.
It goes a long way.
It makes me feel like I'm doing something right here and not just blabbing for three hours.
So, if you could like and retweet the space, that would be great.
For everybody that listens on the replay, we see you.
We see the analytics.
We got about 50 to 60 people in our community that are passive listeners that tune in on the replay.
We appreciate you, too.
If you could like the space after you're done listening, we would appreciate you.
So, thanks for you guys.
Thanks for the support.
We couldn't do this without you.
And, yeah, man.
Really appreciate it.
So, I guess, Chief, do you want to get into the sponsor spot before we get cracking on news?
Yeah.
So, and on top of that, too, we are going to have, I think it's the CEO or the CMO of Arcade
who focuses on the aspect side of their NFT loans swinging through for an AMA later on in the day.
So, that's dope.
That's dope.
How do you?
Probably like the last 30 minutes of the show.
He's going to come on.
That's dope.
Let's do it.
Yeah.
So, real quick, I pinned it up to the top.
This time, it's something that we've been talking about as well in terms of Arcade.
So, it's the actual data points on their Supreme Loan.
So, Arcade is the number one DeFi protocol for NFT lending.
They also do RWAs, which is real-world assets.
They have a total of $140 million in total volume across the whole protocol.
$77 million total is loan rollovers and refinancing.
Average loan size through Arcade is $45K with an industry low default rate of 8%.
This specific one that I pinned up top is what actually put them on the map.
It was an RWA of a Supreme box logo collection valued at $1.1 through the loan.
So, if you guys are interested, if you are a long-term collector, if you have a lot of
shoes, if you have lots of cars, cards, etc., this is a way for you to be able to tokenize
those real-world assets and actually get some type of money or collateral from them in an
escrowed auction-style way.
So, definitely check it out.
We'll hear a little bit more from them when they swing through today and be able to actually
understand what's necessary, like, if I want to get involved and how exactly I go about
tokenizing and getting the value of my real-world assets.
So, shout-out to Arcade for sponsoring the TDA.
And shout-out to you guys for doing something that actually makes sense for this space, man.
Yeah, real use case.
Imagine that.
I mean, since we are on Arcade, we had a development overnight.
Let's see if I can find it.
I have so much shit here.
So, Rafiq Anadol's ISS Dreams entity receives a 75 ETH loan on Arcade at a 22% for 42 days.
So, Rafiq Anadol's been blowing the fuck up.
And people are using Arcade to take a loan out on it.
So, just some more relevant news.
I know Sam Spratz, the Skulls of Lucy were being used on Arcade a lot.
We've had Supreme.
So, yeah, people are continuing to use Arcade as a platform.
And here's another example.
Rafiq Anadol's ISS basically being used as a loan.
Yeah, that's really where the high-end art is going, right?
Like, people aren't...
I mean, Bendow, all those things are specifically tailored to, like, collections.
And then Arcade seems to be more encompassing of fine art, traditional art, crypto art, etc.
And really kind of laying down the groundwork for that.
So, like you said, it's always...
I mean, just their punks alone are really impressive in terms of loan value on just punks.
Yep, yep, yep.
So, just saw that this morning.
I thought it was just relevant because they are a sponsor.
And we've just seen a real-world example of people using Arcade to take out loans.
So, we're going to have them in the space in probably the last 30 minutes.
So, if you guys have any questions for them, feel free to come up and ask them.
That'd be awesome.
So, kind of like the talk macro while the show's, like, warming up a little bit.
And yesterday, I mentioned that we were going to have CPI data released today.
And not looking great, personally.
So, if you look at it, it says we're up 0.4%, which that's year over year.
So, this time, this time last year in September, we're up 4% and inflation's up, right?
Fuck, man.
These goddamn buses.
Sorry, man.
Public transit, man.
They just don't want me to...
I'm blocking half the road and everybody just wants to go into another lane.
So, anyways, if you look at month over month, we're actually in the same spot as we were last in August, which isn't great because now inflation isn't going down and staying stagnant.
And year over year, we're going up.
So, what is Jerome Powell going to do during the kind of FOMC meeting?
He's kind of being in a tricky situation because inflation is not lowering.
So, what is he going to do?
Raise interest rates?
And we basically hear all over the news, I don't know if they're fear-mongering or what's going on, but, like, you know, commercial real estate collapsing, financial sectors collapsing, banks collapsing.
So, this puts Mr. Jerome Powell in a tricky situation.
And this data is a lagging indicator.
So, like, this data is from September.
So, I would imagine the data month over month for next month is going to be a lot higher because now we have a war, a new war, and oil prices are going to surge.
So, does Jerome Powell continue to increase rates and possibly start collapsing markets because of this?
And there's already, you know, rumblings of this happening already.
Or does he kind of continue just keeping it stagnant and inflation gets out of hand?
And so, Jerome's in a fucking tricky, tricky situation.
I would not want to be where he is right now because it's kind of a lose-lose situation.
And, I mean, the government's going to start printing money to aid these countries.
And it's just going to β I think inflation is just going to get out of hand here pretty soon.
And the data next month is the one that's going to be very concerning because we might actually have, like, a piss missile because of oil prices.
And, you know, oil prices tend to raise food prices also because now the delivery truck that's delivering your food, now it costs a lot more money for them to get the point A to point B.
And that usually reflects on the food prices.
So, yeah, Jerome Powell's in a tricky situation.
I think the next FOMC meeting sometime in November, I think we'll have another data set from October, which will kind of decide what he does.
And, man, bad situation for him.
We'll see where it goes.
But, yeah, there's cracks.
There's cracks all over the place if you look around.
So, I thought that was interesting.
And I don't know what he's going to do, but that's kind of how I feel.
He's definitely probably going to have to raise interest rates one more time.
And you're probably going to start seeing things break, like banks β regional banks have already been rumored to be, like, on the brink of collapse regardless of the interest rate.
So, if Jerome raises interest rates 0.25 again, you're going to start seeing fucking everything start crumbling.
So, we'll see where it goes.
So, typically, when stuff starts happening, they'll bail people out, and Money Printer goes on.
And the dollar, at this point, is at, like, a pivotal point.
Like, I think if you look at the DXY, I think it's at the $1.03.
And if they have to start bailing out banks and stuff, you might possibly see the collapse of the dollar.
But, you know, other currencies around the world aren't doing that great.
So, people are kind of hedging and buying into, like, bonds and treasuries here in America and buying up debt because their fiat, like the yuan and other currencies around the world are doing pretty bad also.
So, I thought that was pretty interesting.
And, yeah, it seems doom and gloom.
And you're like, damn, man, like, what the fuck are we going to do?
But some interesting stuff that I've seen on chain that kind of makes me think, like, it's not all that bad, right?
And that is basically, shit.
I'm stuck.
I'm stuck.
I'm stuck, bro.
I'm stuck in this.
I can't get out of this document.
I'm, like, stuck.
My Twitter's stuck.
So, ah, shit, bro.
Oh, man.
What do you mean you're stuck, like, in a...
So, like, I've tried to pin a post, and I'm in the image.
And it won't let me back out of this image and get back to this space.
So, I'm stuck on this picture.
I basically probably have to exit the app and come back.
I'm stuck.
All right.
But it's Tether.
Like, I'll just keep going, and I'll just read it.
This Tether, USDT has hit an all-time high of people buying USDT on chain, or moving USDT and stablecoins on chain.
So, typically, what that means is you have whales.
In this case, there's a chart here that's showing these are whales that are now putting USDT on chain and basically ready to pounce on a dip.
So, I think whales are thinking there is going to be a liquidity event soon, and they're ready to buy it up.
Basically, this is the highest amount of USDT that's been on chain since July 14th.
So, that's kind of bullish.
I was about to say, interesting metrics on that, too, that I have.
And it's not necessarily specifically USDT, but it is the fact that, I don't know if you guys saw that this morning, Uniswap flips credit in seven-day volume.
So, Chief, I'm going to have to come back, bro.
I got to exit the app.
I'll be right back.
Yeah, you're good.
No worries.
All right.
I'll be right back.
I thought that this was interesting in terms of we seeing more and more people now utilizing DEXs, right?
And not going through the centralized exchange, kind of getting a little bit smarter in the sense of not your keys, not your cheese.
So, a little bit more ownership and decentralization of the assets themselves.
So, I mean, I like seeing that.
And it's cool that people are getting hip to the fact that Uniswap is your friend.
Go ahead, Uncle.
GM, GM.
This is kind of off topic, but you mentioned USDT, so it just popped into my mind.
I was reading an article recently.
I don't know if I can be able to find out.
I'll look for it.
That USDT, everyone had, like, wasn't, like, so trusting of them because, you know, their lawyers said they only had, like, 40% or 60% of their circulating value actually backed.
I read a thing that because they need a collateral, what to collateralize their dollar with, this and that, they started purchasing a property in the last couple of years.
And now, supposedly, they're not that just in profit, but, like, their investments have turned in the black very good that they're definitely going to have their collateralized loans with their property.
So, that, I think they're going to be a positive sentiment in the future.
Hey, X, it's not working bringing you up, bro.
So, try to leave and come back again.
Oh, there it goes.
Never mind, it worked.
Are you here, bro?
All right.
Maybe not.
We'll just keep going.
X, whenever you get back, you probably need a disconnect, so.
All right.
So, cycling in.
Got a couple things to talk about on my radar until we get these technical difficulties going.
So, first off and foremost, we have a lot of our community that's been involved with the grapes.
So, the grapes now have their coin.
This is something and one of the main reasons why the grapes ran originally when they first minted.
They are backed by Animoca Brands.
You will get a base allocation of the grape coin based on how many grapes you own.
But this is also the pre-registration link and pre-sale link for those that, you know, want to get involved.
So, it's up here for anyone that's ready.
I know that we had Ron and a couple other community members that have been really following this closely.
So, it's posted.
And then we also have another coin that this is something that we also bought into.
X, do you still have your one of one?
I sold it for 0.1, but I had three other ones, which was the maximal claim was yesterday.
I think I got like 10 million or 10 billion, something a lot of coins.
But there's no liquidity.
It's not like you could sell it.
Yeah, they haven't added that yet.
So, that's what I was about to break down.
So, what it says is the way that they were breaking it down.
All unclaimed tokens will be burnt after a 24-hour claim phase.
Liquidity pool will be deployed and the contract will be renounced after approximately 24 hours.
And then the token will be live and tradable.
So, I think I got like four or five of these and I'll probably go claim whatever the fuck it is.
And we'll just see where it goes, dude.
But yeah, so two projects that, you know, we've seen this be a little bit more of the meta recently.
The idea of you launching a token alongside of your NFT or vice versa in terms of which comes first.
But yeah, Maxim and Great.
Hell yeah.
Yeah, and I kind of got fucked up on the USD thing.
So, basically, kind of the TLDDR is USDT has experienced notable increase on on-chain activity, reaching three-month high in active address, primarily due to the rise in exchange deposits.
According to analytic firm sentiment, the amount of USDT on exchange recently surged, boosting the buying power of crypto investors.
Large wall holding significance amount of USD are also accumulating the stable coins, suggesting an interest in future purchases.
Additionally, sentiment highlights the accumulation of ETH by the top non-exchange addresses, which hold a record high of ETH over $61.2 billion.
So, when you see stable coins, right, that's usually typically money on the sidelines.
So, if you look at the market cap of USDT, it's around $80-something billion.
You have USDC, which is around $25 billion.
So, you have over $100 billion of money sitting on the sidelines.
So, that's pretty bullish.
A lot of people, it looks like a lot of, you know, smart money thinking there's going to be a liquidity event relatively soon, and they're ready to buy the dip.
So, I mean, that's a lot of money.
And what, there's not a lot of new participants, right?
But I don't think we need all new participants to make the price pump.
We just need people that know Web3 to come back, and then the people like whales like this to buy.
And then we're going to have, like, big institutions and stuff also start buying when the ETF and the spot ETF get announced.
But something that kind of shows you that we are not getting new participants anytime soon, and that's okay, is the search volume on Bitcoin on Google has reverted to the levels observed by 2020.
So, here's a chart from Google Trends showing you that we're basically in Death Valley when it comes to search coins of Bitcoin.
And that's okay.
Like, if you look in 2020, before COVID, it was in the same way.
And then we had the COVID crash, and then we skyrocketed.
Could we see another resurgence of this Google Trend if stuff starts collapsing around the world and banks start collapsing?
Could we get this search term back skyrocketing and people searching what Bitcoin is if the banks start failing?
I don't know.
We could have another moment like that, and we'll see, man.
So, I thought that was pretty interesting.
Not a lot of people are searching Bitcoin, which is okay.
But we have a lot of people on the sideline waiting to purchase, which is also a good thing.
So, I don't know how you feel about it, but how do you feel, Uncle?
I mean, a lot of people on the timeline, I've seen Sham Do, also Alex Becker, basically saying this four-year cycle narrative is all fugazi.
That until interest rates get cut and there's excess liquidity in the markets, that the bull market is not going to come back until then.
I was talking to Manny last night, and he was talking to some people.
Basically, he's pushing back crypto, being bullish, and like in a bull market until 2025.
A lot of people are capitulating, leaving the space in droves in the past month.
Do you believe 2024, after the halving, we're going to start being bullish?
Or are we kind of being pushed and delayed because of all this extracurricular activity that's happening around the world?
What do you think, Uncle?
All right.
I missed the first part, but you're talking about, what, the global collapse?
Is that what you're implying?
A lot of people are capitulating in crypto, leaving the space.
You have big influencers in this space.
I mean, everyone's in debt.
What I keep hearing is everyone is in debt.
Everyone is in debt.
Maybe me and you might not be in debt, but everyone's in debt overall.
What do we have?
The most, like a trillion consumer debt in America?
Like, that's the first time ever.
Everyone is in debt.
No one could pay anything.
That's what I'm seeing is no one could β just general observance.
No one could pay anything.
People are crying about gas.
People are crying about eggs.
And these are basic things that we need to live.
No one's spending money.
There's hardly anyone β everyone's just buying investments, but livable investments, not speculative investments like houses, maybe cars, maybe something of those type of substantial investments.
They're not really going to do something in the new attention economy.
They're just trying to live, and it's getting harder every day for everyone to live.
I forgot what I saw the other day.
Somebody β you were even saying.
You were like, yeah, I paid $300 in the grocery for three people.
I used to pay last year $100, $150.
Like, that's crazy to me to spend $300 for three people for, like, two weeks is definitely an issue because back in the day, you used to get, like, a whopper for $0.50.
So I don't see us really doing all these speculative investments when we have so many issues going on.
You see the S&P.
We've been just going down the whole year.
It's just going to β it's going to continue going down until we see some type of positive sentiment.
Where I don't see positive sentiment.
Usually war does help because then everything gets tightened up, and we don't have anything to use, and we always keep producing, and that makes business better.
But I still don't know why crypto is bad or good in these scenarios because the bad people are holding them, and then we're taking it away from them like Hamas got their crypto coins taken away or whatever it was.
So, like, it shows a bad light on it that these bad actors can be using it, so it doesn't give a bullish sentiment.
It just gives a sentiment.
So I don't see any reason to get into crypto today for the general normie perspective, but, like, the world is in a different place today.
That's all I can say.
Well, on that note, too, I mean, there was an interesting post that I saw right before the show, and it was someone talking about the idea of, you know, the narrative.
Bitcoin is for money laundering, XYZ.
Well, it actually shows the crypto wallets that are involved or associated with the kind of Palestinian jihad, and that in the last three to five years, the amount of crypto influx coming in has decreased almost 90%.
And that was due to a statement of them explaining and telling people to no longer deposit Bitcoin because all the interactions were on the blockchain.
And then all their kind of movements and everything like that were being able to be tracked, right?
So, in a sense, you have the benefit, right, but you also have the ability of being monitored from people, in a sense, that maybe you don't want to be monitored from or how they spend their money, especially in situations of, like, high sensitivity as, you know, like a holy war or stuff like that.
So, I can definitely see why some people like that idea in terms of the visibility, but then you can see those that don't want anything to be followed or tracked to where Bitcoin is not the solution for them, right?
Especially now, I mean, in these times of war, yeah, it seems like the easiest way to transfer money.
But then again, if you're trying to spend money in four times of war, the last thing you'd want is, quote-unquote, your enemies knowing that you just bought five missiles.
They're like, look, he just transferred money over here in that sense.
So, I think there's a benefit and a negative to that, and that's why we're starting to see a little bit more awareness of the pros and the cons on that side.
That's pretty interesting, baby.
And I think for you, Chief, I think the SBF trial is going on, right?
And a lot of shit's coming out for it.
I think there's a recess at 12 noon their time, so 11 Eastern here.
So, when 11 o'clock hits, about 45 minutes, there's probably going to be some stuff posted by, like, Coffeezilla and some other, like, DJ news about what was kind of said in the courtroom.
And yesterday was pretty crazy, right?
So, you had some Viennese, Alameda purchased some Viennese prostitutes to go bribe China.
I think they spent, like, $150 million or some shit to bribe China with some prostitutes.
And then I think the craziest one that I saw was the fact that FTX was selling Bitcoin.
They're trying to keep the price suppressed.
So, they were selling the customer's Bitcoin, and then Alameda, research on the other side, was shorting it.
And they basically would collapse the price by, like, selling all their users Bitcoin.
But Alameda on the other side was shorting.
And then after they would short it, it would be a net positive on both sides.
And then they would buy back the crypto that they sold on FTX.
Like, that's crazy, right?
Like, who, like, if you're doing that, like, you're going to jail for sure.
Like, that's nuts.
And then I think that, like, that was probably the craziest thing I saw because that's complete manipulation.
You're selling people's Bitcoin, customers' Bitcoin that they aren't selling.
But you're selling it in mass to drop the price while your research company on the other side, which you own, is shorting it, knowing the fact that you're selling millions and millions of dollars of Bitcoin.
And then once the short completes and you file and you complete the trade, then you use that money, that P&L that you made, to buy back all the Bitcoin.
So, that's fucking nuts.
Chief, did you see that yesterday?
That they were manipulating the price like that with their exchange?
Yeah, I think I mentioned that during the show that they were trying to sell it down.
But, I mean, at the end of the day, it's like, yeah, I mean, yeah, pure manipulation.
You're going to jail, bro.
I mean, that was on her weekly to-do list, which was the craziest part about that.
Yeah, and then, like, the whole thing with his hair and driving the Corolla was all about perception and got him into more boardrooms and more meetings.
And more people were ready to invest in him because he was, like, this synergistic fucking boy that was running this crypto exchange.
So, like, his whole personality was all fake, too.
And they just used it to kind of get more money for their exchange and get more people invested in him because it looked like he was up all night and knew what he was doing.
I don't know.
But, like, just an everyday guy because he's driving a Toyota Corolla, kind of disheveled looking.
But, yeah, like, I think we just need to keep our eye out at 11 o'clock today.
And I think we'll get some more crazy news from that situation.
Go ahead, Chief.
Yeah, no, I was just, I pinned up that chart that I was talking about with context in terms of crypto wallets and utilization of it for specific aspects.
So, I just thought that that was crazy, that massive drop off that, like, it's like, I mean, no pun intended, but the coin dropped, right?
Like, they understood that this has its pros, but it also has its cons in terms of being able to be surveillance-wise.
So, I thought that that was an interesting aspect.
And then, I don't know if you took it down, dude, but I pinned up the Bitcoin Magazine thing.
No, I just pinned over top of it.
Let me see if I could.
I don't know.
Maybe I did.
I don't know.
Maybe I did accidentally.
I don't know.
Maybe you never pinned it up.
Go ahead.
I thought I saw it.
Yeah.
I just took it down on accident.
I think Bitcoin Magazine took it down, bro.
Actually, it wasn't even us.
Yeah, well, I don't know what it was.
My bad.
It was something along the lines of Edward Snowden confirming that if Bitcoin becomes the source for, you know, uncensorable publishing, that he can definitely see Ordinals taking off.
And it's one of the most interesting things that, you know, he's seen development-wise on the Bitcoin protocol.
Oh, you have Edward Snowden commenting on the fucking shit that's being inscribed on Bitcoin?
Yeah, because he's at Inscribe Amsterdam.
And so that's literally working out perfectly that there's a bunch of Ordinal panels over there.
You got ZK.
You got a lot of other Ordinal thought leaders.
Danny from OnChainMonkey.
Raph from Ordinal Protocol and Orcore.
So you have all the heavy hitters over there, and then you're also getting this, at the same time, the world event of, you know, the WikiLeaks, 200 logs being inscribed, and you get a chance to talk to Snowden over there.
So, yep.
Do you think that this is possibly being co-opted at Amsterdam and Snowden has something to do with this?
Like, do you think, like, this was all planned, and then, like, Amsterdam came, and they got a bunch of people around the world to do, like, can, like, do this all together?
And, like, do you think some of the information is actually from Snowden, these Afghan war files and stuff?
Like, is this, like, a place where this was, like, created?
I don't know.
I mean, I don't think that he has 100% involvement in that, but I think that, I mean, he can see it as why it makes sense, you know, and how it can definitely line up to his idea of whistleblowing and how this could have protected him if he did it this way back in the day.
Yeah.
It's pretty fucking dope.
I actually like the fact that they're using this as, like, a ledger or, like, a newspaper.
So, pretty cool.
Yeah, I think the quote that he had put was, like, the only way to shape the future is if the past can't change or something like that.
And so, he was just, you know, the immutability and the provenance aspect of when you put these kind of information on the chain, no one can go and kind of remove the history.
Yeah, you know, I always say, like, life's a scam.
And I swear to fucking God, last year, I went to McDonald's because it was the farewell tour for the McRib.
And today, McDonald's announced, yesterday, they announced that the McRib's coming back this fall.
It seems McDonald's 2022 McRib farewell tour was nothing but a ruse.
The famous or infamous barbecued slathered pork sandwich will return from its brief retirement for 2023 fall season.
McDonald's confirmed Wednesday.
So, the McRib's pulling a Brett Favre and saying, I'm retiring, I'm not coming back.
And then he comes back a year later to make his world tour all over again.
So, yeah, McDonald's is a scam.
And they're just using you and manipulating you to buy the McRib and thinking that's going out of style and leaving so you can get their sales up.
So, I thought that was pretty funny.
If you do like the McRib, like I do, it's back, baby.
And you don't have to make your own anymore.
I've been making my own McRib since they've been gone.
But now they're back at McDonald's.
I'll be venturing back there this fall and purchasing another one.
So, shout out to McDonald's, bitch.
Have you seen that they were talking about every time that the McRib comes out, there's like a global collapse or something happens in the world?
Damn, bro.
Let's not start that.
I mean, tomorrow is Friday the 13th.
I just need to have good, positive vibes for the rest of the weekend.
I think we can get through this, man.
There's been enough fucking harshness this week.
If we can just get past Friday the 13th and nothing bad happens, like typically I'll get a flat tire.
Or I'll get like something that will happen to me on Friday the 13th every year.
So, I'm just trying to like stay calm and just stay low so the bad jujus don't hit me tomorrow.
So, shout out to Friday the 13th.
It's one of my favorite holidays.
And I will be binge watching Jason tomorrow on Starz.
If you want to watch it with me, we can maybe have a watch party in the Discord.
But let's move on.
What the fuck am I talking about goddamn McRibs for?
But I think something that is pretty relevant to art and stuff like that is Alpha Centauri Kid yesterday appears to get his art removed by OpenSea after alleged complaints by Vogue magazine.
So, Alpha basically said,
It appears Vogue magazine had OpenSea removed my work Vogue from the Broken Keys collection for trademark.
Hate to break it to you, Vogue, but this is art.
You can't stop me from using the word in my art.
Just because it's no longer on OpenSea doesn't mean anything has changed.
The word in my imagery will be known as Vogue forever.
Vogue just poked the wrong bee's nest.
I can't wait to see what Muse has in store for this.
In the meantime, you can view my work, Vogue, here, which is on the gallery.manifold.xyz.
So, what do you think about this, Chief?
And then right after, I was just going to say, right after I pinned this up, because it goes exactly with that,
right after you get Jack Butcher to change the O in Vogue to the checkmark, like to show support for ACK.
So, had you seen that?
Guess not.
But yeah, so, in a sense, Jack Butcher and ACK.
Hopefully, this is an official collab that comes out or somewhere.
Sorry, I was in the middle of a stop, man.
I wasn't trying to be rude.
But yeah, I saw the Jack Butcher thing.
That is awesome.
What do you think?
Jack Butcher creates an open pepin with ACK now?
He doesn't have any kind of traits like that to be in an OPEP, and that's the only issue.
Or are you going to get fucking ACK to come on Quadrillion Art?
Nah, he didn't.
But I am in talks with him.
Like, we are in communication now, and he knows that he was one of the people that kind of inspired the game theory behind Quadrillion.
So, this is a perfect avenue for you to now hit him up once again, because now they're trying to censor him off OpenSea because of Vogue.
Now you have the kind of narrative of, like, Bitcoin's immutable.
It can't be censored.
You can now, you can have your artwork on Bitcoin forever, and no one can fucking do anything to it.
Yeah, I know it's OpenSea, and they can DCMA whatever you want.
It still lives on chain.
But, like, this is a perfect narrative for you to get back in contact with them and kind of push the Bitcoin immutability concept.
You know what I mean?
Yeah, that's what a lot of the artists, in a sense, like and have been attracted to Ordinals for that idea and that basis.
I think that it's definitely going to be cool when you start seeing, I mean, that's kind of what Bitcoin's for, right?
Or the ability of utilizing the chain to its fullest.
And so when we start seeing these artists that come from oppressed countries or oppressed nations, like China, for example, or anything like that, that get their artwork removed, I mean, ideally, these are just building up use cases for Ordinals, right?
And for the actual freedom of speech aspect or the uncensorability of Ordinals.
So you still have to, in a sense, get through that whole indexing aspect, but the majority, Ord.io or anything like that, they'll get you listed, and they'll get you at least displayed.
Yeah, so let's get the mint schedule going for today so you guys know what's minting, what's not minting, what's going on.
It might be some opportunities there.
And I have a breakdown.
We were talking about Expression Marketplace yesterday and how they halted their mint.
Well, they're minting today.
You have Corey Harbour is minting today.
A bunch of names I can't pronounce.
Minting.
John ProVenture, Lore, Ira Greenberg, Materia Moda.
It looks like a lot of art is minting today.
Apologize for not being able to pronounce those names.
I am driving while reading.
I'm not going to fucking try to sound that out.
But MT Colender does a pretty good job of getting into, like, the degenments and stuff that's minting on other blockchains.
So this one's probably more up your alley if you're guys into, like, trading PFTs.
So you have Toggles, Universe, .01 ETH Mint.
It's public.
You have Eco, Sapiens, 101 NFT art of three raiders.
It's free plus mint.
And then you have LaMana NFTs.
It's 100 NFTs and it's .05 Sol.
And then the kind of the Expression Arts, which is the one that a lot of people are bullish on because it's backed by Animoca.
They have some mint details here for you.
So full mint details is we are minting October 12th.
Thank you for everyone, your time and patience.
We would like to probably announce that we will be minting tomorrow.
Oh, so it's tomorrow.
Oh, let me see.
Yeah, I guess it's on the 11th, so the 12th.
So that would be today.
Read below for the mint details and its timing.
Our Discord is now open and anyone who would like to join is able to.
So minting process, 300 spots guaranteed, 11 to 4 p.m. Eastern, 20% over allocated to first come, first serve, 4 to 5 p.m. Eastern, public sale at 5 p.m.
It's a reminder that each minting process will depend on how many people mint.
If we do not sell out and guaranteed, it will head to first come, first serves as follows.
So they have their mint, they have their details, and then they have their Discord all here for you.
My, I don't think this gets the public.
I don't even think this gets the first come, first serve, personally.
I see a lot of people touting this, and it's going to be interesting.
So we'll see how it goes, baby.
Are you interested in this, Expressions Art, since it is kind of maybe possibly get to go to public?
Yeah, I mean, I had also bookmarked them coming out and saying that it was live and everything like that.
So, yeah, I'm definitely interested in watching it.
Like, in terms of art-wise, I like the fact that it's different, right?
It's not necessarily focusing on big names established.
Like, the theme is Caribbean artists and giving them a voice and kind of allowing them to be, you know, brought onto the chain.
So, I do think it's going to be more people buying for actual appreciation of the art and the underlying concept rather than just, you know, looking for a quick flip.
So, if you aren't willing to somewhat lock up that liquidity or if you're not there for the art itself, I would probably pass on this mint pass for a quick flip.
So, I got back to the co-host.
Let's go.
Uncle, what's up, my guy?
Did you hear Noah on the morning show this morning?
What did you think about him?
That's the first time I've heard his voice.
Yes, I did.
He sounds good in a sense where obviously no one's in the loop, though, because, you know, you can't really hit lightning twice, but, like, strike lightning twice.
But he sounds like he's a young, hungry entrepreneur that's intelligent and has some business ethic and background to help progress the whatever, the vision forward.
It sounds like he also has some people with him.
So, I do like it that he β I do like Noah overall.
It's just that the concept that the original founders are just like, F it, and they left doesn't put a great taste in my mouth.
I do believe it's good that there's new ownership.
It will bring new life.
Who knows?
Maybe they'll really run with whatever they're trying to do with Puma, ESPN, sports, and all that, which is, you know, a great niche.
It's, like, almost between, as he said, like, Barstool and, like, the nifty morning show.
It's, like, access and sports and all that stuff together is perfect for their vision because that's what the members really want.
That's what they've been asking for.
So, hopefully, he could put that vision on the paper and execute.
But, yeah, I'm happy with what they're doing.
I looked at his wallet.
He has a lot of dogs.
So, I'm happy with that.
The clones, the clones, the clones, the clones, whatever he does with the clones is going to β is really make or break, in my opinion.
And he could β there's a lot of options.
He could do so many different ways, burn it, I don't know, whatever there is, take the traits and make it into a story.
A lot that could happen in this, and everyone loves the IP, and it's from 2021 in, like, June or whatever.
The only issue, it's 1155, ERC 1155, but I don't really see that as such a bad issue.
I think that that's actually almost positive for non-blur farming.
So, I like what he's doing.
I'm very positive.
I just don't like that the original founders are not there anymore.
There's just some, like, bad taste that I have about that.
Not about NOAA, but the project overall.
You mean still today after the transition?
I wouldn't know, but I would β oh, I missed that.
So, I would assume that anyways.
I would assume that they have to be hands-on for the next six months at least because they had a lot of intricate stuff going on.
They have a lot of deals with Puma.
They literally have a shoe.
So, they have Mellow Ball.
There's a lot of things that, in the transition, they're going to need to be handheld for a little bit because when they did Pudgy Penguins, I believe it was just the IP and maybe some NFTs, and that's really it.
There's, like, contracts and already things in place with them.
So, and they have, you know, a 3PL with their Gutter merch that's still out there.
So, there's a lot of business factors that they had that they need to continue with those owners.
Yeah, he says that they're minority owners still.
So, that means that you could possibly lean on them for advice with certain things that they've already been kind of developing.
And is there a β like, I don't know the Gutter Cats community very well.
Is there anything called, like, Gutter Entertainment in Gutter at this week?
So, there's the clubs.
They have, like, Gutter Gangs, Gutter Picks, Gutter β all these other things, you know, for weightlifting, you know, people to, you know, Gutter Gangs to get a little heavy weightlift, you know, be active.
They have Gutter Picks for, like, sports betting.
They have all these niches, these sub-communities.
It's just β it's very difficult because it's on their website and it's not so interactive.
When you have, like, the youths, their nouns, their crowns or whatever they have.
I know that they have more than one, you know, club or gang.
It's on Twitter mostly or it's a Discord room.
So, there's more active, interactive β there's more interactiveness about it that you don't really see it on the Gutter because it's just on their website.
It's not really so β even myself, it's not really so intuitive.
You wouldn't really want to use it.
Because on the show, you mentioned Gutter Labs and Gutter Entertainment as the two things that β
No, so Gutter Labs β Gutter Labs is the original LLC and then I think he's changing it to where he owns, Gutter Entertainment.
So, that's where the changeover is.
I'm just trying to figure out β
But they do have clubs and niches and little subsects.
I'm just trying to think of how he's going to attack this that's different from other projects.
And I think we mentioned they have a variety of IPs from rats to pigeons, the dogs, the cats.
And when I hear Gutter Entertainment, I think, like, going down maybe the comic book or the entertainment of, like, maybe a cartoon or, like, IP play with, like, collectibles.
It seems like that's kind of where he's leaning into because, I don't know, like β how would you attack it?
Like, I think that he needs to have a burn.
I mean, I could see the cartoon work.
I could see the cartoon, like, putting a rat in a pigeon.
I could see them have a lot of, like, charisma and, like, attitude that you could work into the show or whatever you want to do.
So a mini strip, a comic book, anything.
I just think that the IP is so strong.
Everyone's sentiment about the IP is so positive.
I haven't really seen anyone say negative cats suck or dogs suck or whatever.
Most people say it's, like, they like the dogs better than the cats.
That's what I really hear.
But besides for that, clones.
Clones have great, great IP.
People love you.
There's so much to do with them.
They're originally supposed to take gutter wars or gang wars and, like, make the clones even more deflationary when you play, like, how, like, chimpers have their thing or, like, how Cyber Stadium has their thing.
Some type of niche with that.
And you could win or lose gang or something like that along those lines.
So there's a lot of options out there because their NFT collection is so eclectic that they have already four OGs.
Then the four OGs have clones, and then the four OGs have a second tier of clones.
They have the regular D1, and then there's a D2.
And then if you heard about him, he's going to make the D3, the clones level three, really, like, rare or exclusive because originally we thought those were only going to be, like, 300 quantity.
So those are going to be the top tier of the clones, and if he has control of the artwork, it's really going to be, I think, they're going to listen to the community and what the community think is the best traits or things to upgrade.
And it's going to be a very, I see the timeline jumping all around and getting so much into it that they could still be a top, they could be a top 10 NFT by the end of the year, in my opinion.
I mean, I would be lying if I wasn't scrolling through the cats and the dogs and just, like, eyeing one of them.
I personally like the dogs better than the cats, but there are some fire cats, too.
I don't know, maybe I do a PFP change and I get a gutter.
I don't know.
Yeah, the dogs, everyone should buy a clone at least, but the dogs are nice.
I really like the IP of the dogs.
You see my Capone right there, my mobster.
I like the combinations that they have with the dogs more than the cats.
Yeah, I was looking at one that had some crowns on it and stuff, and they're pretty nice, man.
I have to admit that the IP is top tier, and I always liked yours and Fluffy's dogs.
I don't know.
We'll see how it goes.
It is kind of a cheaper NFT that the IP is a banger.
So, yeah, I heard them on the show.
Maybe we can get them on the show one day and you can talk about it and we can hear straight from the word, straight from the horse's mouth or dog's mouth or cat's mouth.
But yesterday we had the update from Starz Arena.
They're still down.
And then there was supposed a white hat hacker returned 90% of the stolen funds.
So, we got an update from Starz Arena.
We have recovered approximately 90% of the lost funds.
We reached an agreement with the individual responsible for a recent security breach.
The funds have returned in exchange for a 10% bounty fee.
1,000 AVAX that was lost in the bridge.
Total funds lost is $26,600.
Was it $26,600?
I guess $100,000 AVAX.
Funds returned $239,000 AVAX in two transactions, $119,000 AVAX.
The bounty of $26,000 AVAX plus $27,000 AVAX.
So, white hat hacker supposedly is a white hat hacker now.
Now that, basically, Starz Arena, like, tracked his wallet to a centralized exchange and basically outed him saying, we know who you are.
And now he's considered a white hat hacker.
And he's like, all right, I'll return it.
I'll just take 10%, which I guess is around, what, $300,000?
So, GG's to him.
I guess that's kind of life-changing money.
But, yeah.
Starz Arena kind of seems like it's, along with a lot of social pie platforms, is kind of bleeding out a little bit.
But, looking at the TVL on, what do you want to call it, Frentech, it's not looking great.
I think it's down, what did I see this morning, $3 million from yesterday?
Pull up the stats real quick.
So, daily return users is down 7% from $4,900 to $4,500.
Daily buy volume is down 25% from $2 million to $1.5 million.
Total volume is down 24%, $3.9 million to $2.96 million.
TVL is down 1% from $43 million to $43.5 million.
The highest key is still Vombat.
He went up from 8.28 to $8.33.
So, yeah, volume is falling.
A lot of people, smaller accounts are kind of leaving the platform because there's not a lot of activity on their pages.
And not a lot you can do to jack up your price if you're not basically stating that you have extra capital on the sideline and you're 3-3.
And so, if you're not a whale, you don't have a lot of money ready to deploy, no one's buying your keys.
And if you're not 3-3 and nothing's really happening.
So, this is what I was scared of, of the smaller accounts kind of giving up, saying,
what's the point of me being on here for 100 points and locking up my E when I could go do something else for a potential airdrop that's happening in five to six months.
So, yeah, kind of the 3-3.
It's scary, though.
Go ahead.
No, I was saying, a 1% drop's not that bad, bro.
With TVL, I mean, if you look at the other statistics, they're like down 24%.
Yeah, no, I get that.
But I guess that inconsistency is what is attractive to me.
The fact that everything, users, buy, sales, trades, all of that activity is down, but the actual TVL is only down 1%.
That means that, in a sense, money is not necessarily leaving the platform, not just yet, right?
I feel like we're at a definite pivotal point to where it's, you know, it's either make it or break it.
Like, we're touching support, and if there's something from them in terms of innovation, which there hasn't been.
I feel like that's the biggest issue with Frontech.
Like, the app itself has not got any, quote-unquote, cool new features, right, besides pics.
Like, you still can't do emojis.
You can't do GIFs.
You can't do videos.
You can't do any of the other innovative things that social platforms are now offering.
So, I really think it depends on Frontech showing that they're redeploying some of this capital that they've made from fees, whatever, back into actual R&D of the platform.
And then once that happens, I think it would be good.
But for now, there has been no changes.
I mean, Frontech, besides the picture, is the same Frontech that they had when launch.
So, that lack of drive and innovation is definitely causing a stall, in my opinion.
Do you think maybe the people that, you know, have high clout on Frontech, they can just go to these other platforms like Frenzy or Stars Arena and make a quick bag?
Do you think that some of their liquidity is maybe locked up on Stars Arena, and they're waiting for that to get deployed so they can, like, withdraw and then come back to Frontech?
Do you think maybe the exploit with Stars Arena is kind of locking up a lot of people right now that would typically be kind of spending on Frontech if the hack hadn't occurred on Stars Arena?
Yeah, most definitely.
I mean, we did see a lot, like, Frontech, I mean, not Frontech, Stars Arena happened a little bit too fast, in my opinion.
And due to the everyone shilling it on the timeline and, you know, that whole cabal aspect of it, it instilled a false sense of, like, security in a lot of people.
And I know very few people that did the same due diligence or kind of slow roll approach that they did with Frontech with any of the new, you know, copy-pasta SocialFi aspects.
So, I wouldn't be surprised if there was a decent amount of liquidity locked up over there.
Yeah, I bet.
And I think once that's ready to go, you're just going to see an excess from Stars Arena.
But, you know, SocialFi has been popping up all over the place, and there's a new thing that is now out.
It's called Farcaster.xyz.
It is a decentralized social network now accessible to billions of iOS and Android users, and it is built on top of Ethereum.
So, I tried to sign up this morning.
I failed to because I don't have my credit card linked to my app store.
But, you basically, you download, you go to Farcaster, you download this, what's this app called?
It's called Warpcast.
You basically use your email.
It'll create a wallet for you.
Actually, you create the email.
And then you basically pay $12 a year to access their decentralized social media platform.
It's basically open to Android and iOS users, and you basically just enter an email, and it creates, like, a custodial wallet for you and everything.
So, it's pretty interesting.
I haven't actually hopped on there and did it because I didn't want to pay the $12, but I don't know.
It's pretty interesting.
Why? Or is it just another social media app?
Like, I'm not getting aware.
It's like Twitter, but it's supposedly decentralized, but it's built on ETH.
What's the point of the wallet, though?
I don't know if there's, like, tipping or what other aspects, like, revenue aspects you possibly will get paid out.
I haven't actually done a deep dive on, like, everything.
But here is the kind of statement from there.
Farcaster is now open to everyone.
Three years ago, Varan and I started working on a new social network.
We didn't know what shape it would take, but we knew it had to be sufficiently decentralized.
We believe that if users and developers felt they were in control, they'd be willing to invest their time and energy in building out the network.
Today, we're excited to announce that our social network, Farcaster, is 100% permissionless.
Anyone with an internet connection and some Ether can sign up and use the network depending on another person's organization.
We wanted to express a deep gratitude to the 100-plus people who have contributed to and built apps on Farcaster and, of course, the thousands of early users who have built a vibrant community.
You can now sign up at farcaster.xyz slash apps.
I think you can not just pay with Apple or a credit card.
I actually think you can pay the subscription in ETH also.
So, I think that's what the wallet's used for.
First, I didn't get the pop-up.
I got Apple Pay, like, you know, when you download an app or you press the right click and it goes to your credit card.
I think there might be an option to actually pay this $1 a month, $12 a year to access this decentralized social media platform.
So, I don't actually know what's built or what's being built on top of it if there are additional revenue streams.
If you're, like, a developer, maybe you can get tipped in ETH.
But I'm going to do a little more research tonight and possibly link my credit card to the App Store and probably fuck around with it a little bit.
But pretty interesting, the fact that this is built on Ethereum.
I think we β I mean, doesn't Jack Dorsey have something called, like, Block?
That's supposedly, like, a decentralized social media network.
So, I don't think this is anything that's, like, groundbreaking, but I think that it's open, it's live, Android and OS users can all download it.
It's probably just another, you know, flash in the pan.
We probably won't be talking about this in a month, but I thought it was just an interesting development and something that we kind of β I figured we'd talk about a little bit.
He's also co-founder of Blue Sky.
What is β Blue Sky?
What's his name?
Jack Dorsey.
So, he's the Block, Inc., and Blue Sky.
He just tries to have a hand in everything that social media looks like.
Yeah.
Captain, you came up here.
Do you know anything about Farcaster or β
Something about the kid returning the money for β
All right, Captain.
What's up with your connection, my guy?
You need the kid to return your internet, bro.
I know.
Sorry.
I need new headphones.
All right.
Well, I can't hear Captain, so that's great.
He had something to say about Starz Arena and the hacker.
I don't know what it was, but hopefully he can come make a connection and relay what he was trying to say there.
So, God, Captain.
Killing me, my guy.
All right.
Can you hear me now?
Yes, there we go.
Go ahead.
All right.
Sorry.
I'm driving.
My headphones aren't working.
Did you guys talk about the hacker returning the money for Starz Arena?
Yeah, we just mentioned it right before this topic.
What do you have to say about it?
I don't know.
I just thought it was interesting that he returned it, and then he, I don't know if he, he kept 10% of it, but I don't think that's going to resolve him of people coming after him and still, like, getting penalized for what he did.
But, yeah, I thought it was pretty crazy that he returned the $3 million.
I don't know.
They knew who he was.
They linked his wallet back to a centralized exchange news identity, so they're going to oust him if he didn't give it back.
So, they basically converted him to a hacker, to a white hat hacker, and the bounty for his white hat hacking was a 10% fee.
So, I don't think anybody's going to come after him because I think that was kind of the deal that they were kind of bargaining with each other.
He's like, we won't expose you if you give it back, and he's like, all right, well, give me 10% and call me a white hat hacker so I don't get any flack, and that's the agreement they came upon.
Yeah.
Did you, Captain, did you, did you, I know you're into the DraftKings Rainmakers.
Did you get those week six packs yesterday?
No, I totally forgot about it.
I was going to try and go for it.
Yeah, I missed out, but I think they didn't sell out right away.
Yeah, they sold out, but not right away, you're right.
So, you could have got a chance, but they had over 900K of volume yesterday on those packs, which is crazy.
Almost a million dollars in pack boxes.
Yeah, it's wild.
But I like their stuff because it's not like Top Shot where they just kept dropping moments with absolutely no utility.
You open these packs and you can use them right away, you know?
Yep, and enter contests and win prizes.
And you can list them as soon as possible.
Like, say you win a contest and you get a free card, you can go list it.
And, like, there's, like, just like OpenSea, there's wheat offers already sitting there for you.
Yes, last week I had a Justin Jefferson superstar card.
And with these contests, these core packs, like, they kind of prevent pay-to-play.
You can only have one superstar in your lineup at a time.
So, I had, like, a Justin Herbert superstar and a Justin Jefferson superstar.
And I couldn't play both of them at the same time.
And I sold my Justin Jefferson on a wheat bid for, like, $11.
And Justin Jefferson got hurt in the game.
And now he's worth, like, five.
So, I was like, yeah, man, I sold the top.
But it felt good.
It felt good to sell the top on a player.
But, yeah, like, DraftKings is killing it.
Ooh, I might be looking to pick up Jefferson then.
Because he's only going to be out for, like, four weeks, right?
Yeah, this is the time you buy people with injuries that come back.
Like, their price dips because no one wants to buy their card because they can't play them.
So, yeah, buy, like, the dips on these player cards if you have excess income.
That's the best time to buy, for sure.
Right when they hit the IR, price usually drops pretty drastically.
But, yep.
Are you serious?
Are you going to Hong Kong?
Are you going to Hong Kong?
Are you going to Hong Kong?
No, not at all.
I wish I could.
I'm hoping they'll have a digital experience for it.
But we'll see.
Yeah.
So, yesterday, we were talking about the Pokemon cards that were on Magic Eden.
It seemed like there's an announcement from Magic Eden that they're going to be dropping these Pokemon cards by Collector Crypt.
It's 100 tokenized Pokemon cards, and they're going to be released on October 18th.
So, this is how the space works.
You get any traction, get anybody talking about your product, you have clones that come out of the woodwork instantly, baby.
And this is just, this is basically repercussions from Courtyard taking market share of these Pokemon cards.
And you have this Collector Crypt's like, oh, we need to get some market share.
We're going to, we're going to partner with Magic Eden and release our cards on there.
So, this is on Solana.
I think it's like three Sol or something.
A little under $100 for these packs.
I don't know, Chief.
Are you going to get into these?
No, it's on Sol, bro.
It's like that, huh?
It's like that.
It's on Solana.
I ain't fucking around even though there's an opportunity to make money.
All right.
Fair.
Fair enough.
Go ahead, Captain.
I think this is a genius idea.
Obviously, like matching the NFT to the in real life thing.
But also, like, it provides liquidity to these local, like, card shops where these cards are just sitting there.
And it feeds into our D-Gen, gambling, loot box games that we like to play.
Yeah.
And I'm not surprised that they spun this up in just a couple weeks afterwards.
But I still think there's another opportunity for, like, a courtyard competitor on ETH.
Oh, fuck yeah, bro.
I mean, I don't know if I would go down to Pokemon if I'm doing cards.
I might, like, do something different.
Or maybe Magic the Gathering cards.
Maybe, like, prominent rookie cards from, like, NBA players or some shit.
You could do anything.
You could do, like, Sky Memobili.
You could do anything.
Like, it's not just limited to cards either.
You could do shoes, you know?
You could do a lot of stuff.
Ooh, shoes.
I don't know.
Shoes market's kind of dropped.
Hardcore.
I don't know if I would do shoes.
Magic the Gathering cards go for a lot of money.
What about those Back to the Future shoes?
Like, if you throw a pair of those in, I don't know what those go for.
But those would be dope to own.
And what are those, Chief?
How much do those cost now?
They were, like, $1,000 plus back in the year.
Air Mag?
The Air Mag, yeah.
They're $20, then, like, $80.
They have, like, two versions.
Like, $50 bands, bro.
No, no, no.
They have, like, a 2008 version or something like that.
Or 2013 version that goes for, like, $20.
And then they have the really OG one that goes for, like, $80 to $100.
Yeah, dude.
Throw that into a loot box.
Woo!
That'd be dope.
So, I'm going to pin something up to the top.
Just kind of transition a little bit.
But this is a gaming project that dropped their token, has been around for probably about two years now.
So, anybody that's been in the space and was here around the original play-to-earn boom, big time.
It was something that everyone was talking about.
People were buying land.
People were cashing out on big time.
They had one of the first playable in-real-life experiences in terms of gaming.
And now, yesterday, their coin hit the official market and was listed.
It surged at $0.19.
And since then, I pulled it up this morning just to see.
And we're currently sitting at $0.26.
So, steady movement since listing.
Up, you know, about 4,000% since it originally started.
And, yeah, man.
Just something to throw out there.
If we're looking at gaming coins similar to Gala, Polygon, et cetera, this is more ecosystem-specific, not chain-specific.
But big time isn't new.
They've been around.
They've got two years under their belt of developing this game and working.
And so, definitely a coin if you're into kind of looking at the DeFi aspect side or been looking to allocate some bread towards the gaming meta that's coming.
Definitely put big time on your watch list.
Yeah, big time's been around for a while.
And, I mean, I haven't done research in, like, two years.
But I think the founders of Decentraland are actually behind the game.
So, you're asking how do they get listed on Coinbase so quickly.
I think Decentraland has some connections.
And those guys have connections that get listed pretty quickly.
And people are asking, where was the album?
Why do we get this token?
Why do we not know what's going on?
Like, this stuff gets hidden.
It's probably, you know, talked about in the group chats.
That's going to happen.
And there's probably some insider trading.
But, yeah, like, this project's been around for a while.
And it's kind of cool to kind of see, like, people delivering on games and stuff recently.
So, I think the next one that I'm interested in now that big time is out, what is Illuvium?
Like, Illuvium's been building fucking forever, man.
And the Illuvium founder is brothers with the guy that created the Synthetix token.
So, he has some backing, too.
So, I've been super interested in Illuvium for a while.
Their coin, I think, back in the bull market hit over $1,000.
So, yeah, I think Web3 Gaming is going to be huge.
I even think in bear markets, it's going to be pretty huge.
Like, we've seen, you know, Parallel and Reavers and Heist and these other games.
Photo Finish all pop off during the bear market.
And I think, like, these games, as long as you're making money, I think they're probably bear market proof.
And big time's one of those.
Obviously, the coin's up 300% because it got listed.
But I think they've actually been developing, and they probably have a pretty fun game.
I remember looking at trailers back in the day, and it looked pretty fun.
So, we'll see where it goes.
Big time, like, I don't know.
It's been a while.
I haven't really played the game or done a lot of research for a while.
But definitely a big game.
And I guess if we are talking about crypto gaming, I guess we'll get this one out of the way.
Which is another horse racing game.
It's called Game of Silks.
And it raises $5 million in a second financing round.
So, horse racing fantasy game raises $5 million.
Fantasy horse racing startup Game of Silks has secured $5 million in funding, bringing their total funding to over $10 million since their launch in 2021.
The platform allows users to purchase NFTs, earn rewards.
Tied to horse racing, they have issued more than 7,000 silks.
A Genesis avatar and enemy placing price around $0.08 ETH, $125, according to OpenSea data.
NFT owners can earn rewards based on real-world performance at horse associations with their token.
Game of Silks has established partnerships with key organizations in horse racing space.
Additionally, data from BlockTate Intelligence from Masari reveals a slowdown in fundraising from the crypto sector in Q3 of 23.
So, it's kind of big that they got this much money from a BC.
Another horse racing game.
But I think this one is actually not like a blockchain racing game, similar to Zed or Photo Finish, where you kind of create your own horse.
Looks like this information is tied to actually real horses racing.
So, that's kind of interesting.
But, yeah, Game of Silks.
I mean, like, how many horse racing games can we have?
Like, can we do something different?
Can we do, like, Greyhound racing, NASCAR racing, Formula F1 racing?
Yo, Hamster racing was, like, the best events that we had this year.
So, please.
Hamster racing?
Hamster racing was fire, bro.
That was the best, bro.
I had the most fun watching hamster races.
Shout out to hamster races.
Yeah, that was, like, a fun time.
Like, everyone was doom and gloom.
And then now we got, you know, thousands of people sitting here betting on JoJo and hamsters.
And, yeah, so go get some turtles or something.
I think it would be fun.
Go ahead, Captain.
During the bull market, there was, like, two projects that were, I think there was a couple, maybe more, car racing.
But I don't think anything really happened to them or even, like, any game even launched out of them.
I think car racing would be cool.
I mean, how many times have we been told Memphis NFT, a game's coming, and, like, we look back two years later and that game never was developed?
Like, I got rugged so many times, buying into that narrative.
It sucks.
I personally think that the ones that have been building and didn't rug, I think they'll probably be delivering sometime this year and next year.
So, I guess at the beginning of the year, we're kind of saying 2023 is the year of Web3 Gaming.
I think we're kind of on par with that.
2024, I think there will be a lot more.
I think a few, like, Parallel and these other have actually, like, set the table.
Like, yeah, if you do deliver something and it's fun and it has some kind of passive income attached to it, I think you can, like, sustain any market.
So, I think that if I did have a lot of money and I had an NFT project, I think I would kind of dabble into Web3 Gaming more than just, like, IP plays.
Like, if I was launching an NFT project.
I think that Web3 Gaming is kind of bulletproof a little bit.
It's kind of shown in this market.
We were in a Pico Bear and some of the top-performing assets have all been Web3 Gaming.
So, we'll see where it goes, baby.
Web3 Gaming is fun.
I haven't really played a lot of games.
But idle gaming kind of fits my fancy because I don't have a lot of time to do this shit personally.
I guess we'll get to one more thing and it's about Microsoft.
Good old Microsoft.
And you're like, oh, man, I'm in debt.
Like, these companies are in debt debt.
Like, man, do you imagine being $29 billion in debt?
So, Microsoft owes $29 billion in taxes, says IRS.
So, Microsoft is challenging the U.S. tax authority's demand for an additional $28 billion in back taxes for the years 2004 to 2013.
Internal Revenue Service is auditing the company's profit allocation across various countries.
Microsoft insists that the issues raised by the IRS are relevant to the past and not reflective of the current practices.
There's an ongoing concern about major corporations minimizing tax payments by reporting lower profits in high-tax countries and higher profits in lower-tax jurisdictions.
The company believes any owned taxes after the audit may be reduced by up to $10 billion based on recent tax laws.
Similar tax payment calls have been directed at tech giants like Amazon, Facebook.
Besides tax issue, Microsoft has faced scrutiny for data collection on children and is on track to finalize a significant acquisition of Division Blizzard for $28 billion.
So, don't feel bad if you're in debt and you're running your credit card.
It's not nearly as bad as our government or Microsoft owning 29 β have to owe the IRS $29 billion.
You don't want to be in that position.
Straight up.
Like, Bill Gates can fucking give this money right to them if he wanted to.
But I guess he's playing games with, like, you know, tax write-offs.
And that's what the rich people do.
They find loopholes.
This is what companies do.
They find loopholes and shit like that.
Yep.
Like, don't fall into this.
You want some real-world alpha, bro?
Debt is your friend.
Welcome to America.
If you learn how to use debt, you will be successful and you will make money.
So, don't fall into this narrative of not having debt or anything like that.
But, I mean, ideally, that's how the American economic system works is based on how much you owe
and how much you've been able to pay back through owing and accumulating debt.
100%.
100%.
So, Chief, you're more on the ordinal side.
And we kind of briefly talked about some FUD that were happening with Goosenals yesterday.
And I've been kind of following the businessman, which is basically a person that's like the hot shot of blockchain.
He calls out everybody.
He was calling out Elena back in the day when she was copying and pasting art on the ordinals.
He's basically, and you know this token, he's saying that the team or the people that are behind Goosenals
are the same people that are behind the rug pull oms.
You remember oms, Chief?
Yeah.
Have you heard this, what businessman's saying about Goosenals?
Yeah.
That's crazy.
Well, it's the same, I guess he's, it's the same group of people in that sense to where,
I think his name was like BRC20 Coins or something, and then he rebranded after they like got fired up
over that whole oms debacle.
But yeah, I mean, homie just sits there and he's very vocal about things that he sees on the blockchain, right?
And in a sense, what I was saying is he was very vocal about the movement of the geese, right?
A lot of the ordinal space was extremely bullish on that, that as a collective through social consensus,
they managed to get the first 8K geese and they're on Bitcoin, right?
And that was the narrative, the provenance, the spark for that collection.
But surely, as time progresses, due to maybe potential bag bias or whatever it may be,
the narrative started changing to where now specific geese were,
a rarity index was being created by the community, right?
Rather than by Dimitri himself or by, you know, the actual, I guess you'd say the project brain.
And so that's what the issue occurred, is that obviously when you hear specific people around you
try to tell you, hey, this one is worth more, and then you have to kind of understand or follow the money.
Why is this one worth more?
Do you own X, Y, Z amount of this one versus those?
And so that's the main issue here, is that there's been a rarity index created through the people that have the biggest bags.
And therefore, that's the issue, right?
I mean, if there's a rarity index created by someone who's in a sense neutral, right,
who doesn't look at their wallet and says, these are the rarest, I can get it to a certain extent.
But hell, there's no metadata, there's no rarity index on digital artifacts, period.
So why try to add different levels of monetization and gamification and bring over shit that's from different chains to Bitcoin just to make a bag?
I guess it's one thing that community to tout certain traits, but it's another thing to create indexes based off your bags and rarity.
So that's fucked.
And there's too much fun around this.
When this first was popping off, I was like, all right, this is Dimitri Cherniak.
I don't think a lot of people are, you know, realizing this.
It's on ordinals.
I bought, like, five for $100.
And just, like, over the past week with, like, the JSON files and the SGV files and then, like, this guy behind it, Ohms.
It's just, like, too much.
And I don't want to be, like, associated with the price.
So I've been β I listed all mine yesterday after I heard this, and I'm selling this shit.
And I think if you do have a goose on it, I think you should sell it, too.
And I don't think β like, I'm not going to tell you what to do, but this is just β this isn't a good look.
This team β there's a lot more other projects you guys can get behind.
I know this is a free mint, and they're cool, but it's just, like, there's just too much here for me to be involved.
And I'm just, like, what else is going to come out tomorrow, bro?
I want to break down a little bit β I guess give clarity.
On Bitcoin, there does not need to be a team.
A team signifies Bozo1, who submitted Indexer, and Bozo2, who is co-founder.
Like, there is no teams.
All this stuff is literally open in CCO, and I can go and generate a goose and inscribe myself.
And I don't have to have a team to officiate that my goose was a part of that collection, right?
If I inscribe using the correct file type in the correct allotted window, then that's a goose, right?
And that's the beauty of Bitcoin in the sense that the only centralized heads for now are those that have to submit specific index numbers based off of β for qualification of the collection, right?
But other than that, there doesn't β there is no team.
Anyone can participate.
Anyone can go and inscribe, create their own, submit their own indexing.
And so that's the beauty of Bitcoin.
So, I don't know.
I just don't like it when people try to say, hey, we're a team and all this, when this started in a grassroots, you know, like, decentralized way.
Yeah, I mean, these communities can stay strong and fight through the FUD.
I mean, they can always still be something, even though you have people behind the project have shady paths.
That's a crazier thing.
But for me, if I'm trying to fucking accumulate shit and trying to be a whale in a project, I'm not going to have my fucking bags tied to people that have rugged previous projects and tokens and hurt other Bitcoin investors in the past.
That's not my look.
I don't fucking support that shit, so I'm out.
If you want to buy them, buy them.
If you don't, you don't.
But I'm actively trying to get out of this position.
So, do as you will.
Chief, I've been talking a lot, pinning up a lot.
Do you have anything you want to pin up?
Want to talk about it on your mind, my guy?
No, go ahead, bro, and then I'll go through my bookmarks.
I did have a couple things saved, but we're covering a lot of it.
We're covering a lot, baby, that's for sure.
Well, yeah, this is, I mean, kind of just going on to the Ornals thing, and just for anyone that's out there listening, please be careful.
Once again, I think it was Businessman that called this guy out, too.
Someone went online and copied shaders and basic creations from another artist.
First, try to justify his creation or her creation with utilizing ChatGBT and saying,
Hey, I recreated your shaders in the exact same way because ChatGBT helped me out.
Guys, remember, when you're trying to do some fuck shit, there's always a bigger brain around you, and they will figure it out.
So, ideally, they went, they decompressed his entire code and found that he copied and pasted this and was using this whole ChatGBT as a facade.
So, kind of doubling down, because on Ordinals, you don't need to have a quote-unquote team.
You don't need to have a marketing or a platform to come out.
Anyone could essentially go, inscribe X amount of artworks, and submit for indexing.
I would just be very wary of what you're buying and spending your money on, especially in a sense of brand-new artists experimenting, right?
Community notes have been fired recently, and I don't know who's out there filling those out, but I would take advantage of those community notes and just kind of see what other people are saying.
Because, yeah, this guy got ripped up yesterday by, hell, all of the Ordinals community.
Magic Eden pulled him off.
Ordinals Wallet pulled him off.
All for copying different shaders from a website and basically fake-creating generative art.
So, something to keep in mind, if you are trying to be scammy and a piece of shit, steal other people's stuff, doesn't matter what chain it is, man.
Some people are here kind of dedicated to ensuring that things don't go down that route.
Community notes have been fired recently, I have to admit.
I've been watching some of these.
Like, I know we all get, like, the videos that are, like, just kind of, like, want you to watch.
And there was this one yesterday of this woman was getting an ultrasound on her stomach, and they're like, all right, that's your pancreas.
This is your uterus.
Oh, there's a baby.
And then they turn the monitor to her friends, and they all freak out.
I'm like, damn, that would have been a crazy moment to capture.
The community notes underneath it said, this is a scam.
This is fake.
This is all staged.
And I was like, I would have gone and went through my life thinking that that was real.
And the community notes basically told me, like, this is staged.
And I think that's good for the space to kind of identify things that are staged and things that are real.
Because you can be, like, engineered and socially manipulated on some of these videos.
On this guy's thing, it literally says, community notes, most of the items on this thread are sold without the original creator's knowledge or consent.
And then they drop the source link to that.
So these guys aren't fucking around, dude.
I mean, you already had the, quote, unquote, trolls that you could block and mute and do whatever because you knew the accounts that you were after.
But now with community notes, I mean, there's nothing you can do.
It's on the app, right?
You're going to be called out, and you're going to be labeled as a scammer or whatever on the app itself.
And that speaks a little bit further.
Ultimately, they're not the source of truth.
But it does give people a little bit of insight of why or, you know, a second look as to why you have whatever you have under your name in that community notes section.
Go ahead, coin up.
Jim, Jim.
I don't, talk to me like I'm five.
What is this community notes?
I've seen it pop up a couple times this month, but I don't know anything about it.
Can you explain more?
Click that Zor post up top, and then right when you look at it, when you look right in the middle, you'll see readers added context.
And it'll say, most items on this thread are sold without original creator's notice.
Do you see that?
Okay, yeah, I do see it right underneath the image.
Yeah, so it's basically like a whistle, I guess you could say like a whistleblowing system, where users of X can go and write like comments.
Hey, this is a scam, this is fake, and then you can add your sources to prove it.
And if deemed, quote unquote, valid, they'll pop up under those posts and kind of warn others.
And like how X was saying, from videos to posts like this of images, whatever it is, people can go in there and add their little two cents anonymously.
Is this X staff?
Sort of like Wikipedia.
Yeah, it's kind of like Wikipedia, where, you know, like Wikipedia is open for open source, and people can input data, and then people can change it.
So it's kind of like, if someone puts something as a community note, and it gets flagged, and someone writes something that is maybe 90% accurate, another person can like flag that and write what is 100% accurate until the whole community has a consensus of, like, this is the way that this article should be portrayed.
So it's kind of interesting, and like, Twitter and X has been, I mean, I've already seen, this is already going to happen, political season's heating up.
And the European Union is basically threatening X to be, like, banned from Europe, because of, basically, they're saying that he's, like, the platform is basically enabling, like, fake news and hate speech.
And, like, this is what happens when you give the freedom to the people to decide what is true and what's not.
You know, the global structure, or the MSN, or these people that have the power of information basically get pissed off, and they try to get these things banned.
So X is already being in hot waters in Europe, basically talking about banning the app completely in Europe.
So that would be huge, a huge development and a catastrophe for freedom of speech and this app in general, man.
That's crazy.
I don't know if you guys saw that, but if you guys want to look it up, they're already threatening Elon, and I'm sure this is going to ramp up as political season ramps up,
and there's more and more news coming out that's being talked about on X and being used as, like, a platform to kind of spread information.
And it could be misinformation, but that's what the community notes are there for, right?
You get a community of people that are like, all right, this is fake news, or this isn't real.
Let me look at other people that this could possibly be misinformation, or here is the actual story.
So I think we're going to see more and more of this stuff pop up, and I think X is going to be under attack for the next year,
and Elon definitely already have everybody from their mom trying to, like, take them down, take advertising down and stuff like that.
So it's going to get interesting.
Cohen, did that answer your question?
Do you have something else you want to talk about?
I didn't mean to cut you off, man.
No, you're good.
It sounds like X or moderators that work there actually implement it,
but they gather the information from, you know, the whole source or Twitter itself.
Yep, yep, yep.
It's pretty cool.
I actually like that development that's actually been implemented on X personally.
Let's see.
Wait, I have something to comment on that.
Go ahead.
Yeah, so I always see on Instagram because, yeah, on Instagram always had, like, those community notes, but it wasn't, like, from the community.
It was from, like, Instagram itself.
And, like, half the time it was more of, like, subjective opinions than community notes, which, in my opinion, would be misinformation.
So, like, you have these centralized entities, like Instagram literally giving us misinformation as if it was fact.
They're, like, commenting, let's just say something with whatever, Joe Biden, Joe Biden did this.
They're like, no, Joe Biden wasn't this.
He did this.
And, like, they try to kosher it, per se, and at the end of the day, a lot of it's misinformation.
So, to have community notes from, like, a Reddit style of just random people doing it and you take it as it is better than the actual social media company saying this is what it is and you should just believe it.
And there's no way of, like, contesting it or have a different type of vision on that community notes.
Yeah, it's better.
Like, yeah, Facebook has, like, two or three fact checkers and it's centralized and they're kind of dictating what's real and what's not.
It's censoring what's real and really based off, like, four or five people.
I think community notes has a lot more people and it's, like, more like a community consensus.
Yeah, things can be skewed and stuff can be portrayed differently by a community.
Like, nothing's perfect.
There's no perfect solution.
It's just good that you don't have, like, a centralized fact checker deciding what's being censored or what's being, like, deemed.
Fact and false on this platform.
It's kind of, like, a bunch of people come to a consensus and that's what kind of gets listed in the community notes.
And it's open source.
And not only that, it's that if you remember before Elon bought Twitter, we had not misinformation but, like, information that wasn't allowed to come to light.
Like, so, like, that, again, is, like, the opposite of community notes but more of, like, censorship.
So, the Facebook and Instagram kind of does that in the same type of community note style.
So, it's really interesting how they're trying to take misinformation or censored information and trying to put it and give you all the information in front and make you make your own decision then and there.
100%.
100%.
It's good.
It's good for the space.
I saw this.
We talk about security and we talk about, like, you know, using, what is it, revoke.cash and never giving out your seed phrase.
And we tell you guys this all the fucking time.
Sometimes things get lost in the weed.
You get busy and stuff gets lost and you don't remember doing certain things.
But I saw this from DC Investor yesterday, which is a great account.
So, several accounts, hot wallets were emptied, likely due to suspected security breach involving LastPass security manager.
So, DC Investor was saying, I've seen multiple reports of this.
If you've ever entered your seed phrase or private key into LastPass, bail on it immediately.
Move to a new wallet with keys which never touch any device other than a trusted hardware wallet, other than a properly air-gapped setup.
And this is a comedy sub-tweeting from this guy named Flippin.
And Flippin said, lost 28 overnight from a hot wallet due to storing the seed phrase on LastPass.
This problem appears to be widespread.
If you've ever used LastPass, it's time to get the fuck up.
Get the fuck out.
Update your password.
Abandon your wallets with seeds that were stored there.
Yeah.
So, that's basically his update on LastPass.
I don't actually know what LastPass is.
I've never used it.
Never seen it.
If I click on their Twitter, it says, LastPass manages your passwords and online life so you don't have to.
Whoa, great.
Yeah.
Great, guys.
It's a password vault.
Yeah.
Yeah, great.
Yeah, it's your password vault, but you lose all your ETH if you give your password to them.
Yeah, great.
Great marketing campaign there.
Like, these guys are going to zero instantly, right, after this?
Like, your main market proposal is that we store your keys, but then, hey, your keys now got breached, and now your ETH's gone.
It's a password vault, though.
It's not a seed phrase vault, bro.
You know what I'm saying?
Well, the guy just said that he stored his seed phrase on there.
No, I know, and that's what I'm trying to explain.
Certain things are designed for certain use cases, right?
You can't get mad that, you know, why did my email not catch this scam, but you're not using, you know, a proxy email or Proton email and stuff like that.
So this OnePass, MyPass, LastPass, all this shit, they're not designed with crypto safety in mind, right?
And that's what I think is the biggest thing is that they don't have functionalities or services designed to obscure seed phrase words or to scramble and jumble, etc., right?
So in a sense, you're betting on a regular Web 2 hack protection, and you hope that that has Web 3 hack protection as well, which it doesn't.
So utilize something that's specifically made for crypto with crypto security and safety features inside.
That's what I would definitely say.
100%, baby.
100%.
And it is past 11.
I think Caroline and SBF's trial is at reset for the afternoon.
I don't know.
Maybe if we can pull up DGN News or somebody they're covering and maybe get an update on what's going on there.
Maybe we can get a market update, what's trending, what's not trending in the space, what's popping off, what's buying, what's selling.
You got any of that information for us, Chief?
Nothing on DGN News.
There's nothing new that's coming out.
Do you follow CoffeeZilla?
He's been there every day.
Maybe follow him.
Maybe he has some updates on what's going on.
If not, you can definitely give us a market update at least.
Yeah, so pulling up CoffeeZilla now.
But quick market update.
Let's see.
No, last CoffeeZilla tweet was 19 hours ago, by the way.
So number one trending thing right now is GoosePunks.
Collection of 879.
Double derivative.
On ETH.
15 sold in the last five minutes.
Floor price of .0378.
So basically .04.
25% listed with a 33% unique owner rate.
So decent numbers.
Narco still trending from yesterday and continuously.
Eight sold in the last five minutes.
Floor price of .0029.
We got Dead Migos with three sold in the last five minutes.
Floor price of .018.
And then the rest are just D-Gen Mints and single sales.
So yeah, man.
Not too much volume.
Guay at 13.
ETH at 15.
144.
I got a sale on the dogs.
You guys have like a saying for the dogs?
You got like wolf-wolf or some shit?
Like when a sale happens, is it like a-
What are we, easy eats?
No, it's just gang-gang.
Oh yeah, gang-gang.
That's right.
My bad.
Maybe you figure something out with that.
Gang-gang.
That's just a very broad stroking.
I think you guys need to have-
Like you have animals.
You need to have sounds for each animal when they get purchased.
So like maybe not-
Maybe bark-bark.
I don't know.
I think gang-gang worked.
Anyone in the NFT space knew what gang-gang was.
That's all I know.
I know it's getting used by Ice Cream So Good lady.
What's her name?
Hottie Pink Ice.
What's her name again?
Man.
Icy something.
Hottie Icy.
I forgot her name.
Pinky Doll.
Pinky Doll.
Pinky Doll.
Pinky Doll.
Yeah, yeah.
Ice Cream So Good.
Have you seen her lately?
No, but she's still definitely racking over $1,000 a day or a couple thousand dollars a
day.
Has to be.
She changed her hair color.
She looks a little bit different.
It looks like she's kind of getting strung out on TikTok shit.
Like I don't imagine like just sitting on TikTok all day just like repeating what people
say.
Like it has to get a bit strange.
Nah, people are fighting her.
I remember like last month or whatever and like talking shit about her and she got like
emotional from it.
Yeah.
People are talking shit for sure.
I mean, Caroline Ellison, she doesn't look great either after her pictures from yesterday.
She looks like a totally different woman.
I'm like, Jesus Christ.
Caroline, what happened?
I mean, I guess when you're off Adderall, maybe she isn't off Adderall.
Like that really takes effect on your mind and your body it looks like.
So I don't know.
Hey, how's it going?
Oh, that lady said hi.
Just Ryan over her cat.
Anyways, what are you going to talk about?
World of Women?
World of Women's having a Monopoly game.
Maybe you want to buy it for your daughter for Christmas.
That would be, I think, a pretty cool gift.
Teach your kids about real estate.
Teach your kids about loan sharks.
Teach your kids about property.
But with World of Women Monopoly theme.
So prepare to elevate your Monopoly game to a new level of cosmic wonder.
The altered luxury board game experience.
Set your reminder for October 17th on wowg.art.
So World of Women, coming out with a Monopoly game.
Nothing new here.
I think it's kind of a cool development, you know, to have some IP, Web3 IP in the world.
But, I mean, not the biggest news.
This was like $20, $50 for a Monopoly game.
It'd be kind of cool for a Christmas gift or something if you have a daughter or something like that.
Or maybe a Web3 fanatic.
Go ahead, Uncle.
Yeah, I'd rather just buy my child a World of Women instead of teaching them the investment through Monopoly.
I'll teach them the investment through NFTs.
Everything just goes down.
Like, you got to have the bad side with the good.
You got to learn some depressiveness to go into the good.
You always have that one big fail before you win.
So you got to give them some downturning before you let them play and just win properties.
Uncle, where do you see the life cycle of NFTs?
I've heard comparisons of NFTs in kind of the life cycle where altcoins were last bear market, where they're all at zero.
And then we had a bull market and, like, all these altcoins popped off.
If you look at altcoins during this bear market, there are a lot more than they were last bear.
Do you see NFTs possibly in the next bull market having a bounce and, like, coming back and, like, maybe some dead projects you never thought would come back to life?
Or do you think maybe just newer NFTs and newer projects are the ones that are going to pop off?
Well, there's always new projects every day.
If you go to CoinMarketCap, there's supposedly 1.8 million plus different crypto coins.
I remember when I saw it, it was high when it was, like, 4,000 coins.
So there's always going to be something new popping off to try to grab liquidity.
But what I've been seeing with NFTs now, it's becoming β we're hyperinflating and going back into what it really should be.
And I'm seeing memberships and customer being the customer.
And basically, it's like a country called, basically.
This is the brand, this is the icon, and this is what we're going to, you know, try to make better.
And everyone's going to try to get some type of utility, even though there's not, but then spend more money into the brand.
It's like a long-life customer.
It's like starting out as, like, a Mario.
And, like, you were able to collect, like, Waluigi before Mario popped off.
Yeah, it sounds like the Doodles Disney thing.
But, like, not as big β I don't see it, obviously, getting as big as Disney, Nintendo, Pokemon.
But, like, that's the concept.
Everyone's going to be in their niche.
There's so many things that I do in my life prior to crypto that were niches that still made money or still had people involved in it.
It's just everything is going to become more of a niche.
There's going to be the main players.
There's going to be the PFPs probably drop off and change that into a membership base.
Like, a lot of β like, that's really what we're getting out of, sure, a Discord group.
But then we're getting, like, the Pudgy Penguins, Luca Nets, what he's doing.
We're getting β you know, he's doing the in-real-life, like, collectibles, I want to call it.
And then you're getting, like, Frank, who's doing, like, events.
And then you got the β let's call it the gutter doing, like, gambling and sports and betting and things like that.
So everyone's going to have their own niche, their own do-what-they-want-to-do and community focus.
So I do see NFTs still staying.
But if you haven't noticed, in my opinion, the past six months, I don't think we had more than, like, two, maybe three NFT collections that were new and didn't just die off right away.
Like, we have Cloaks, maybe Crapes, and Windsor, Ioana, whatever, and that's basically it.
Like, it's just, like, before it was β it's really how I see it.
It's the tech bubble of the dot-com era where everyone had a website.
Anyone that could code and make a website HTML was just having a billion-dollar evaluation.
And then eventually it all blew up, and then we have now the β what is it?
The Tech 7 or whatever it is.
So, like, we're going to go and filter in and make whatever is the best at the end of the day.
And sure, Yuga is probably going to be one of the winners.
Pudgy probably could be one of the winners.
I don't know after that.
But, like, it's going to become a community thing more or less than your actual, oh, my dog or my picture is cooler than your picture.
So, yeah, like, there are certain altcoins that did go 99% down, right?
And then during the bull market, they reached an all-time high, a new all-time high.
Do you see projects like Pudgy, BoardApes, D-Gods?
If we get into another bull market in 2025, 2026, do they ever reach all-time highs again like altcoins did last bull cycle?
Or those β we'll never see β we'll never see all-time highs in USD value again on those projects.
Well, we β usually crypto is cycles.
And when we're in bull market, the cycle is extended.
Like, if you remember, we had 20 and 21 β we had almost two years of full bull market in crypto.
You know, it started, I think, at around September, October 2020, it started to get to, like, $8,000, $9,000, $10,000, which was higher than prior to β not the all-time high, but higher than before the dump of coronavirus for Bitcoin.
And then it just started popping off in 2021.
We had a whole 2021 of β it went up to $60,000, went back down to $30,000, went back up to $60,000.
We have a really extended bull cycle.
So if that happens, it's going to take, in my opinion, a couple of years at least if there's going to be another all-time high for these NFTs.
Because everyone's going to put their focus on Bitcoin, maybe Ethereum, maybe the major altcoins like Solana and Polygon.
That's what's going to be spoken and traded and where the liquidity is going to be for the next β in my opinion, for the next year and a half, good year and a half.
So, like, I don't see people wanting to β obviously, besides for the new projects, wanting to, like, go degen into NFTs, unless we β you know something.
But, like, that's where the majority of the liquidity, I think, is going to be for the next year and a half, the major Bitcoin and then some minor β major altcoins.
It's going to be interesting.
I think we need a new product because typically the same things that pop off in bull markets aren't the same ones that pop off in previous.
Like, I think the first one was just, like, Bitcoin, and then Bitcoin forks popped off.
And then we had, like, Ethereum.
And then we had DeFi Summer.
We had altcoins.
And I think this last bull cycle we had NFTs.
So, I think we need a new product to speculate on.
And I don't know if it's going to be built on Ethereum.
I don't know what platform it's going to be built on.
I doubt it's built on Ethereum.
I bet it's built on another blockchain that we don't even fucking talk about.
Well, you know what happened before the forks, actually, in, like, 2014?
What was really popping off was staking, POS, proof of staking, which was β I forgot which was the first coin to pop off.
But they had, you know, proof of β fuck, proof of work, right, POW.
That's what Bitcoin is.
It's, like, you have your miner, you work, you make some money, you make some Bitcoin with a GPU, and you use electricity and this and that.
Then eventually, someone found a different virtue, which would be, you know, proof of stake.
You grab as much coins as you can, and you make an APR on it.
And that's kind of what the DeFi summer was, but that was on a less technological scale.
It was their own chain, their own coin going into it.
And then, yes, in 2015 to 17, it was forks and then altcoins and then DeFi summer and then NFTs.
But I really think that when bull cycles are real bull cycles, they're extended out and longer, and it's going to take time to trickle back into NFTs.
But I believe it will, and I believe the membership base is the best thing ever.
It's, like, either a one-time payment or you could make it into a reoccurring payment with these smart contracts.
I mean, I definitely think we need something new.
Like, what else β I think ETH is exhausted.
Like, what else can be built on ETH?
I guess soulbound tokens, but you can't really speculate on those.
There needs to be something new.
We got β we had DeFi.
We had altcoins.
We had DEXs.
We had layer 1s, layer 2s.
Like, I don't β
It's the vision coming β it's the vision coming forward.
We had a vision for Bitcoin as it being the decentralized money and a store of value.
And now that has changed to a lot of different aspects.
Same thing with Ethereum.
Ethereum was supposed to be a smart contract, like the proof of ownership, as if, like, you had the pink slips or a car deed, a house deed, or things like that.
And now it's starting to be coming actually β it's really coming actually in real life, like how you see with Arcade Pass, where they have Arcade.xyz, our great sponsor, who has, you know, doing in real life,
taking ownership of taking ownership of a product and giving us loans.
And, like, that was one of the things that Ethereum in 2015 was saying, like, listen, you're going to be able to do escrows and things like that.
Because just like how we had in the online, the drug Silk Road, the escrows weren't really working because you had to rely on Silk Road, per se.
And there was the intermediary here.
There's no intermediary.
So it's really going to be the advancing of the technology.
I don't think it's going to be new sector or category.
I think it's just going to be implementing of the technology for a better use of it.
Yeah.
We'll see how it goes.
You know, something that's coming up that I hear a lot of people talking about is Polygon.
Kind of creating a new token called POL, P-O-L.
I don't know if you guys heard about this, but they're trying to be, like, the layer zero, like a Cosmos for layer twos.
And they're going to, like, be burning their token, Matic, to PAL.
And they're basically going to have, like, they're going to be, like, a place where you're interoperable for all layer twos built on Polygon.
So, like, Polygon isn't just going to be the only layer two that they're developing.
They're going to be something that's going to be innovating multiple layer twos.
And PAL is going to be, like, the interoperable chain for all these layer twos to operate.
Like, not a lot of people are talking about Polygon and, like, their new token that's coming out,
which actually makes a lot more sense than it being called Matic.
But this PAL token, I think it's set to launch, like, sometime by the end of the year, maybe the beginning of 2024.
Have you heard about this, Chief?
Yeah, I think you mentioned it a while back that that's what they're converting over to.
Yeah, if you guys don't know, Cosmos is similar to this.
But they're kind of, like, people build, like, SDKs on top of Cosmos, and Cosmos, like, interoperable with all layer ones.
But Polygon is trying to be interoperable for all layer twos.
So they're going to have, like, multiple layer twos on top of Polygon.
I guess they're going to do, like, ZKs and optimistic roll-ups and shit on top of Polygon.
And you're going to be able to build on top of it and shit?
I don't know, man.
Seems pretty complicated.
But there's definitely going to be a new PAL token, and that's what you're probably going to see on β you're not going to have Matic anymore.
It's going to be P-O-L.
So I don't know when that's coming out, but I need to fucking probably do a little more research tonight and see what the developments are.
I think it's pretty big news if that's what they're doing.
But, yeah, it's all that good, Uncle.
Uncle, you had something?
Yeah, yeah, yeah.
Sorry, my phone is β I don't know if it's X or my phone is bugging out, but my mic can turn on.
It's Android.
It's Android.
Oh, fuck you.
But what to call it?
Yeah, that's exactly what it is, how I see it.
Cosmos is a very interesting chain.
It's an SDK where they have SDKs where you could basically build your own change, and they're not interacting with the other change, just like DYDX is making their V4 on Cosmos, which is, I thought, the weirdest idea.
But when you're building your own chain that's not operated with anyone else, no one can else really fuck with it.
So, like, they're really kind of starting with a new.
But I honestly don't like what Polygon is doing overall.
It looks like they've done β they try to do things, and it did not hit for 10 different things.
Like, using Matic as gas, that didn't hit.
The Utes thing did not work out.
There was, like, two other things I can't β Wiz left.
The gaming sucks now.
Their DeFi isn't good as Solana because Solana is way cheaper, even though they're still, like, a tenth of a set.
There's so many things that they're backtracking on that I can't think of the time I had, but they're backtracking a lot of things.
So, Polygon, you think that they're run by, like, NFT founders that just found the coin and created it, and they just got hype overnight.
So, I don't know.
I'm very bearish on it.
It's making all sense now.
Don't you remember the Ape proposal yesterday from Stan D?
Oh, he wants to build a Layer 2 for Ape?
Right.
They're just shooting at everything.
They're just shooting for everything, I feel like, and I think that's not professional.
It's just, like, how Yuga β I think it was Yuga or someone else said, like, we're doing too much.
Let's, like, narrow it down to, like, our vision.
Do you think β do you think, like, chains β like, gaming chains need their own separate Layer 2 to interact and have transactions?
Like, I've heard this β people talk about this with Solana, where, like, yeah, Solana's cheap, Solana has low transactions, but once you have, like, Star Atlas and all these games on a Layer 1, it's going to clog up the network pretty quickly.
And people have been talking about having side chains on top of Solana just for the gaming ecosystem.
Is this what Polygon's trying to do with ApeCoin and ApeChain is, you know, there's going to be lots of microtransactions in the metaverse of this game, maybe, and possibly creating their own separate Layer 2 blockchain just to have transactions on one chain and not clogging up, like, the whole Polygon or the whole ETH blockchain at once?
Yeah, you're seeing it now when they were playing Dookie Dash and Sewer Pass or whatever the hell these games were called.
They have to pay Ape, and all of it's right now in the ETH chain.
Right now it's cheap, so it's fine.
I mean, cheap relative.
It's cheaper to use the Ethereum network to pay for it.
But, like, when they become mainstream or when they think they're going to become mainstream, you're not going to want to spend more than, like, five cents or a cent to just, like, interact and pay them more money.
Think about it now.
When we buy anything in-store, online, any gaming or whatever, we may be paying the transaction fee on the β we're not paying the transaction fee on the front end, but on the back end we might be.
So, we're not seeing it, we're not feeling it, we're not really living it, so having it go down to microtransactions and not cost a lot is good.
But also how I see it is the TPS, the transaction per second is, like, I think, like, Ethereum is, like β I don't want to say more than, like, 10 transactions per second or some low figure.
And I think Solana and, like, Polygoner and Arbitron are trying to ramp that up, and that's, like, the whole key.
I don't even think it's the five cents as much or the dollar to input Ape.
It's more of the 100,000 players at the same time or a million players playing at the same time, and you're going to have to wait five minutes for your transaction to go through, and, like, you already died by then, so what's the point?
Go ahead, Double.
Hook, line, and sinker.
Talk Ape, and you come up here and want to fucking talk about it.
Yeah, well, I want to talk about this specific topic because the AIP that went through has a little bit of controversy going on.
It looks like Machi does not like it and is going to put all his acorns β
Is he just farming?
What?
What did you say?
Is he β oh, no.
Is he just engagement farming?
What do you say?
Oh, oh, I think he's β
Yeah, maybe he's having an issue with his mic button.
Who, me?
Oh, no.
Uncle can't hear.
Yeah, uncle β uncle β hold on a second, uncle, because I hear you.
You can come back up here.
Come on, don't.
Can you hear me, Espresso?
Yeah, can you hear me?
I can hear you, dude.
You sound like drunk people.
Shut the fuck up.
Dude, let me make my point really quick.
So, Machi is against this thing, so I read it a little bit, and it looks like it's being led by a lot of the council members, right?
And so, it's all kind of like inside baseball.
So, if you think that β if you would think that Yuga needs their own chain, wouldn't you think Yuga would prepare their own Ape chain and do that, right, instead of the Ape coin, which is supposed to be separate from Yuga?
I don't understand why Ape coin needs its own chain to do some DAO stuff, right?
That doesn't make sense.
But if Yuga creating a game needs their own side chain, they should be the ones that implement that because, right, they should have the β
What about the β
They should have the operations.
You don't want to build your own blockchain and then have it operated by a DAO.
Like, I think that's ridiculous.
It has to be operated by, like, a business with operations, right, like, real teams and technical expertise to actually support it and be able to develop it alongside the game.
Look at, like, Ronin, right, like Axie Infinity, for example.
They started off on Ethereum, and then they β as they started to scale, they realized they needed their own chain, so then they created Ronin chain.
And now they allow other games to be built on top of Ronin.
And I think that stuff needs to be done by Yuga, not Ape coin DAO.
On that note, too, wasn't there another proposal, Double β sorry to just quick shift, but it is in the AIPs β for them to get approved to have a booth at their own festival?
Is that correct?
Like, I have no idea, but it sounds like something a DAO would do.
Yeah.
Yeah, like, I'll find the actual proposal.
It was Ape coin DAO to have a booth at, what is it, BAYC Festival, because they don't have a spot there, and they have to buy a spot like a regular sponsor investor.
So there's an actual AIP to get your own company a spot at their own event.
Well, yeah, but that's a good example of how they're not the same company.
They're completely separate entities, right?
So Yuga does not operate within Ape coin, which is my point.
Why would you have β
How does that work if the proposal is to take money from the main company to sponsor the subsidiary?
No, no, no.
The main company is Ape coin DAO.
The money is in the treasury of the DAO, not Yuga.
So they're totally separate, right?
But it's β so what Ape coin is trying to do is take money out of the treasury to create β to buy a booth for the Ape coin DAO at the Yuga event, which is a completely different entity, right?
Does that make sense?
Yeah.
It's not like they're taking money from Yuga to support that DAO.
No, I guess it does make sense when you start looking at nuances and intricacies, but when you say that sentence aloud in the most simplistic form, it does sound a little, like, counterintuitive.
You know, like, huh?
How does that make too much sense?
Yeah, I mean, Yuga should just put the bill and get Ape point DAO in there, right?
Yeah.
They're completely separate, so you have to understand that they are separate entities.
Even though we see them as one, they really operate alone and separate, completely separate, and that's for legal reasons.
So, it's kind of a change of topic.
But on this week's out-of-touch founders, I've posted up to the top, Kongs, congratulations to my man.
He got a new spot, badass new house, flexing it on the timeline as Yoga Pets is down 90% from its all-time high.
But do not worry.
You can go meditate at, you know, looking at his palm trees or something like that.
So, man, once again, we talk about this all the time.
Your first allocation of money should be to someone you hate who will tell you that you are doing stupid things and that you should not do those things.
Like, hey, man, that's going to make you look like an asshole.
You shouldn't do that.
And you're like, fuck, you're right.
Maybe I will look like an asshole if I post this.
So, a little out-of-touch, not only with the world's fucking macro situations, but then on top of that, let's go a layer deeper and a little out-of-touch with our own crypto Twitter and his own community.
So, if you're a founder out there, man, don't set yourself up to get crucified with shit like this.
It's really not worth it.
It makes no difference in your life whether people know you got a Tesla and some palm trees and a pool.
Like, none of that makes a real difference.
We all joined this to leave all that stuff behind and establish ourselves in this space.
So, just wanted to throw that out there.
That's what this space was built off of.
What are you talking about?
Yeah, that's a flex.
That's a flex and a half.
What the fuck are you talking about?
This is what people do on Web3.
They flex their fucking $100,000 in your face.
What the fuck?
Yeah, but, and then they're a broken person, bro.
Like, that shit don't work.
That's not my fault.
You think he's renting it?
Yeah, he's renting the house.
Bet.
That's why we need NFTs.
So, I can determine if you bought your house or not.
I need an NFT attached to your house to make sure that you didn't rent this so I can take you at face value and don't think you're actually popping when you ain't.
A LARPer?
But, like, yeah, dude, I just, I thought that that was kind of random.
And, of course, my man got demolished in the comments of just a little bit of being out of touch.
But, I thought that that was kind of interesting and funny and always some development on that end.
Good old Kongs.
I mean, Double, you think that Bored Apes should go and try to build a blockchain?
They already have too much fucking shit going on.
I would just hire Sandeep to build it.
He knows what he's fucking doing.
You want them to go now build a blockchain after they've already hired multiple motherfuckers to build their games?
They don't know how to build blockchains.
No, I think they should partner with, yeah.
No, I don't think they should build it themselves.
Why don't I fucking Sandeep?
What's the fucking big deal?
Yeah, no, I think they should.
All I'm saying is Yuga should do that, not the DAO.
Not the ApeCoin DAO.
I agree with you.
Yuga should partner with whoever chain they want to make their own chain with.
Because they have all these super chains, right?
That's what Base did.
Coinbase.
They partnered with Optimism to create the first super chain.
So, all these blockchains have, like, these, this easy way or, like, they're called, like, CDKs or something.
Like, blockchain development kits.
Where you, like, a big company like Yuga could take that kit and basically fork their own version of Optimism or Polygon.
And it's your own private chain.
And they help you with the infrastructure and things like that.
So, that's what they should do.
But Yuga should be doing that as they need it for these games.
Right now, they're running just fine on Ethereum because there's not that many transactions, right?
You just pay to boost your game whenever it pops up.
It's not, like, a very heavy microtransaction game.
So, I agree with you.
But Yuga should be doing that, leading that way.
And the ApeCoin, because why would the ApeCoin DAO be in charge of, like, operating a blockchain?
So, I guess what they're doing is they're hiring.
So, I guess ApeCoin DAO is hiring Polygon to do it, right?
So, out of the treasury, you're going to pay the team 200K.
200K, there's, like, bonuses.
There's, like, $3 million up front and, like, 200K.
And then bonuses for the team.
It's, like, this whole thing where we're basically just hiring Polygon to do this.
Well, you've got to have the money somewhere.
So, do it from them.
But the thing is political, right?
Because, obviously, the council members created the AIP, right?
You know, the large voters, like, the Animoca brands and all that stuff, they're all behind these different companies.
So, they're just going to try to push it in with all the ApeCoin they have.
It's not like, you know, I don't know.
I think it makes sense.
But it's kind of, like, sketchy a little bit, too.
All right.
But Polygon sucks, though.
That's the bottom line.
Polygon sucks.
Why not just do what Base did, Coinbase did?
I think that bridges better.
What, fork optimism?
Yeah.
Just create a super chain, just on optimism the way Base did.
Or just use Base.
So, kind of breaking headlines right now.
Everyone is confused because it's the exact same headline of, I think, to the day a year ago.
But, Genesis has now halted all crypto withdrawals and rumors to be insolvent.
This did happen the exact same way a year ago.
So, people don't know if it's a recycled-ass headline.
But, just from gathering what I can do in little basic-level research, when this happened a year ago, they borrowed money from separate entities that, ultimately, they controlled as well.
And were able to say they had money.
And now, everything has been shut down.
And the halting slash insolvency is looming and dooming again.
So, just putting that out there as news right now.
Go ahead, Uncle.
Yeah, I saw that about an hour, hour and a half ago.
I just was so confused because I kind of thought we already went through the exact same news as if you like how you said it.
But, that may be the bad news that you guys were talking about when all these whales are putting USDT on chain.
Maybe this is the date that's going to make it happen.
You think Genesis is going to be that liquidation event?
Or, you think it's something macro?
Genesis is huge for the crypto space.
They have 600,000 Bitcoins.
If they're insolvent, they have to sell 600,000 Bitcoins.
Or, even over-the-counter.
I don't know how many.
The only person who's going to be trying to buy that is Michael Saylor.
And, he has like 150,000 or 60,000.
So, like, who could prop that up is my question.
And, I've been.
Maybe BlackRock and their ETF.
Like, that's the only thing.
There's so many possibilities for this Black Swan event.
It's just mind-boggling that people think we are up only because it's October.
Yeah, what happened to October?
Damn.
We're already lower than the start of October.
That's the funny part.
Yeah, I mean, I'm looking at fucking Wizard of Soho saying that East going to three digits.
I mean, every chart you look at in crypto looks like complete shit.
Crypto looks like complete shit.
The cinnamon's complete shit.
You look at the people leaving the space.
It looks like complete shit.
When everything looks like complete shit, I typically, like, think that we possibly can go up.
I don't know what's going to be the catalyst for that.
It kind of seems like we are going back down.
But, everybody's saying the same thing.
And, that usually makes me want to do the opposite.
Straight up, man.
So, I don't know what's going to fucking happen.
But, it's not looking great.
It's not looking great.
I saw Binance US fucking launch something today.
It's called Convert Pairs.
I don't know anybody.
Did anybody use US Binance after they fucking just shit the bed?
But, they said they were thrilled to share that our Convert Feature now supports 75 crypto currencies and over 2,000 conversion pairs.
It's very zero trading fees when you convert crypto, previous to last conversion rates, and convert instantly.
Easily swap your crypto from stable coins like USDT.
So, you are still on Binance.
And, I guess, I don't know the exact convert rate on other exchanges like Coinbase.
I guess there is probably like a fee of 2% or 3%.
I guess US Binance is trying to get people to use it again and offering like very low conversion rates when you're swapping between stable coins and other currencies.
So, does anybody know how much they actually charge you on like Coinbase to convert from stable coins and shit like that?
No, but I do got some, I guess, alpha on that.
If you sign up for Coinbase Pro, it's free for 90 days and you get zero fees when you're backing out.
So, sign up for Coinbase Pro, transact out, pay no fees, and then just cancel your credit card so you're not charged again.
That's the way to move.
And cancel your credit card?
Alright.
No, no, no.
Cancel like remove your card from the subscription.
Yeah.
And then you're good to go and you can withdraw still free, like fee free for the 30 days that you subscribe to it.
So, definitely worth it on that note.
There's like a research company called Acumen or Acume, not sure.
They had like a post yesterday that they expect the metaverse economy to be $4 trillion by 2032.
Just fucking crazy.
So, Acumen Research's consulting predicts that the metaverse market could grow to $4 trillion by 2032, driven by American and Asian consumers.
To reach that goal, companies must consider the hardware, software, and services that will form the backbone of digital twin interaction.
So, I guess this is kind of foolish for Mark Zuckerberg because he spent billions of dollars, but I guess this research company is predicting that all these metaverses are going to be like a $4 trillion asset class or something in the future, which is fucking crazy to even think about.
So, I guess metaverse is something that's been kind of untapped and kind of a bunch of fugazi.
Not a lot of shit's been, like not a lot of people are playing in metaverses, but I guess that Web3 gaming and metaverses are something that a lot of people are bullish on,
which we really don't have a lot to show from that.
Like, yes, I guess you can mention Decentraland and Sandbox and I guess what Yuga's building, but not a lot of people are playing on that stuff.
But from these predictions, it looks like they expect people to continue to build and new participants from Asia and America to come over
and actually dump a lot of money into these metaverses when they are able to, when they're delivered.
So, that's a lot of money.
What up, Manny?
What's up, my guy?
You got me mid-salad bite, dude.
I'm good, man.
How are you?
How was your presentation?
Didn't you have a presentation?
I did.
It went really well.
Crushed it.
It was recorded.
Asked a lot of questions.
Overall, it was good.
Does it help?
Does it help being on spaces with your public speaking?
100%.
I was like, fuck it.
We'll do it live.
And everybody's like, you did a really good job.
So, it helps out a lot.
And it helps me hold the good cadence and stay concise enough to not get into the weeds to keep people's attention and stuff.
So, it's nice to read a room and be like, oh, this dude's not even listening.
But I'm going to ask him a question and see if I can get him engaged.
For sure.
So, I was listening to you yesterday on the space and you said you talked to a few individuals and you're kind of pushing back your bull market scenario a year or so.
Like, what was kind of that discussion and why do you believe that you're pushing back the bull market a little bit, man?
It was mostly global geopolitical conflict, a federal budget that is running just rampant, right?
Like, they're spending $109 billion every hour for the past 19 days, right?
So, it's one of those things that I look at the picture net hole at scale.
We need to fix the deficit and then we need to fix our geopolitical climate.
And then at that point in time, they'll be like, hey, maybe we can fix the crypto regulation, right?
So, there's too many other things that compound that are top of mind prior to this becoming a priority to do it, right?
I'm going to be at a conference in January talking to most of the regulators in the U.S.
And I'll have a better pulse as far as, like, what the framework is even going to look like, even if they can lobby to make it a priority.
So, that's kind of where we're at on that.
So, what do you kind of see as, like, the solution to all this money printing?
It just kind of seems like we got the CPI report.
We're up 0.4% over last year.
Inflation's not going down.
You have Jerome Powell.
Like, inflation is not going down.
And, like, he has tools in his belt, which is buy more debt, sell more debt, or raise interest rates or lower interest rates.
If inflation's not going down and we keep raising interest rates, don't you see, like, the crumbling of, like, banks and shit?
And, like, last thing we saw, the crumbling of the banks.
The safe haven was actually, like, crypto.
Crypto bounced when, like, SPG and all these fucking banks started collapsing.
Do you see maybe, like, a downturn in, like, banks?
Possibly people start realizing, like, Bitcoin is a place where I want to store my money?
Yes and no, right?
Because the problem is you need to offload it somewhere, right?
Like, what are you going to trade it for?
Like, what bank are you going to use it if there's only four left, right?
So, it's going to be one of those things that, like, yes, it has a use case, but equities would pump harder, in my opinion, right?
In the top seven, like, tech companies, like Google, Amazon, Microsoft, all of those would see all the value accrual at the top there in the S&P.
So, that's really kind of, it's a really weird time where, like, they're talking about capping oil at $60 a barrel, dude.
Like, you're like, what are you even talking about?
So, I don't know.
I'm just trying to position myself in equities that do Bitcoin mining, right?
So, there's a company called CleanSpark out of Vegas.
They do a lot of just clean energy Bitcoin mining.
It has all the buzzwords from both sides of the aisle that I think it could see a pretty decent move.
It's at, like, $375.
It touched $31 at the pico top of the bull.
So, I think that if we think that it's going to triple or double the price of Bitcoin the next bull, we could see $60, right?
So, if it's $3 and I can just buy and hold and then sell it for $60, I think that'll be probably one of my best plays so far.
What do you think about Tesla?
Because we are talking about oil.
It is electric.
They have been crypto-friendly in the past.
It seems like some people use, like, MicroStrategy and Tesla as, like, a Bitcoin trade.
Do you possibly see a Tesla running now that we're having, like, oil issues and capping oil and that kind of shit?
If they didn't have so many competitors trying to come in to fight for their margins, they're going to be in a similar spot to NVIDIA, right?
Where there's all these other chip manufacturers coming to take their lunch where they undercut people and then just try and get more margin, right?
So, I don't see a world where Tesla starts to make more money, right?
It's just them slowly losing money because all of these other people are trying to take their money, right, in the EV market.
So, I don't know.
Jim, like, the rebates on Tesla are crazy for, like, I think it's Model Ys.
And you get, like, a $7,000 rebate.
Like, you can't get that anywhere else.
I think Tesla is, like, all these other competitors, I think they're all just, like, trying to steal.
But, like, Tesla has the best deals.
People love Tesla.
It's like a cult.
I don't know, like, how viable these other electric companies, other electric cars go.
I know, like, Reverian or what is it, Rivian?
Yeah, Rivian.
They basically are the trucks for the new Amazon trucks.
Like, I deliver, obviously, I see the Amazon trucks.
Those are, like, Amazon is now coming out with delivery trucks that are all that company.
So, that's kind of interesting because I think Amazon is going to be competing with a lot of these postal services.
And if everybody's using, if Amazon is using those trucks, I could see that kind of, like, something that Tesla doesn't have, right?
They don't have delivery trucks that, like, FedEx and these other companies are using, right?
The thing is, is, like, with the FedEx things, they're, like, a franchise model, aren't they?
Yeah, like, well, FedEx Ground is contracted owned and it expresses more like UPS, which is kind of corporate.
Yeah, so, it only takes him to win either one of those, right, as a bid.
Or they have to design a car and then win a bid for either of those.
And then they could, like, because, I mean, oil's going to, unless they cap the price of oil, like, you could see, like, $180 a barrel, dude.
Like, it's going to get pretty ugly, right?
Because you look at all of the oil producing countries.
How is that going to, I don't, like, we've been tapping into reserves just to kind of, like, shade this.
But we're getting into an election cycle.
Typically, the government wants to get out of the way and they'll lower gas prices by tapping into the reserves.
If oil gets out of hand and even conservative places where, like, I think we pay $3 to $4, like, in California, it's $7.
If it's $180 a barrel and we're going to an election cycle and gas in all states are, like, $7 and above, how is that?
Like, that's going to fuck shit up.
Like, I don't know how anybody, like, I don't know.
I just don't understand, like, this is all coming to a head right during the period where all of the governments try to, like, smokescreen all the financial issues.
And all the financial issues are peeking their head right at this moment when they usually smokescreen and shit.
It just kind of seems like something's going to break personally.
Ideally, right, ideally something breaks and then all the wheels fall off.
And then it's, like, sometimes you need to have a breakdown to have a breakthrough.
So I'm really hoping for it, right, because then they might actually do something.
It'll become enough of a problem that people can get out of their own special interest groups and, like, really make a push towards making an actual change.
Right.
But if not, I mean, George Slurs is just going to short the dollar and just print and just do the U.K. playbook all over again.
Right.
What country did he do that to back in the U.K.?
The U.K.
The U.K.
Yeah, he made, like, $6 billion.
That's how he made all his money, I feel like, was, like, shorting that at the time.
I mean, dude, he has a system and it works.
So if he can do it again, why not, right?
Yeah.
So what else are you looking into, Manny?
I know you've got a game plan every morning, bro.
Pretty much, I'll pull up my DexView.
MTE bounced pretty hard.
It's sitting at, like, $6.1 million market cap.
It's that mixer.
I just think that's two acts from when you were calling it.
Yeah.
So I think it's going to continue to pump.
The mainnet isn't even live.
They haven't even started marketing.
I think that you'll see a big push on privacy, especially with, like, the deficit getting so bad.
And, like, what if they cancel Social Security or what if they have to take your 401k?
Right?
Like, wouldn't you want it, your money somewhere?
Right?
So I could see Monero pumping pretty hard and all of these privacy coins catching a narrative at this, like, coming cycle.
Right?
Because once the deficit implodes, everyone's going to be like, oh, my God, I need to hide my money.
But there's no privacy.
Right?
But they need the illusion of that is kind of where my head's at on that.
And, dude, I just keep staring at these gutter cats, and I want one so bad.
But I know I shouldn't FOMO.
But I just, I want one so bad.
Yeah, I've been looking at them, too, man.
I really have been.
And, like, you talk about Monero.
I do think privacy is going to be a big thing.
And have you seen this Monero Dex?
Where you could basically buy Monero and use this Dex and convert it to other altcoins?
And you can, like, stay private?
That's pretty awesome.
No, I haven't seen that.
But I'll do some research into that.
And then Crest.
I'm looking pretty heavy into this thing called Crest.
I'll send it to you.
Or can I pin it to the top?
Yeah, go ahead.
Yeah, it's, like, another, like, blockchain thing that's coming out.
And they're launching this thing called PQNet or something.
So I'll pin their page to the top.
I don't know if this is it.
Did I just search Monero Dex?
And there's this thing called Haveno, H-A-V-E-N-O.
It says the decentralized P2 platform for trading XMR for fiat and cryptocurrency built on Monero and T-O-R.
Private, simple, game-changing soon.
I don't know if that's the one.
But I've heard people talking about this Monero Dex.
And if we are talking about privacy, man, I think that's, like, going to be crucial.
Because, you know, like, that's a privacy coin.
And you can use that coin to convert to other altcoins, I think, would be, like, a big upgrade.
In this space, for sure.
No, 100%.
Yeah, this thing that's coming out, it's called Crest.
It has to do with real-world assets and, like, the tokenization of, like, assets and stuff.
So, the real chain that's coming out is that PQ network or whatever.
But Crest is, like, a sister token that you get.
And, like, pretty much you just store it off-chain, not at a Dex.
And then you're going to get potentially an airdrop of this PQ net.
So, that's kind of been my only other play is MTE and this and buying Crest.
All right.
I appreciate it, man.
I heard you talk about it this morning.
I got to definitely send it to me so I can do some more research.
And, yeah, we got our sponsor on the show, right?
Yeah, we got Castro here from Arcade.
Yes, sir.
What's going on, guys?
What's up?
Today was kind of a big day for you guys.
You guys basically got another one with Rafiq Anadol.
So, going to it, Chief, asking him questions.
I'm going to drive around a little bit and listen to you.
And if I got any questions, I'll just buzz in.
Go ahead.
Yeah, of course.
So, first of all, Castro, appreciate you guys, man, for one, sponsoring TDA.
And two, providing something that's actually of value and makes sense, right?
Real-world assets, especially in a world where collectors roam rampant.
And me, myself, as like a shoe collector and been kind of collecting clothes, collectibles,
accessories, vinyl toys.
So, to have a way to sell a whole lot without having to go to a store and just dump off is awesome
and definitely changes the game for RWAs.
So, I mean, I'd love to have you just do a brief intro on what exactly Arcade is and how you guys work.
And then we'll kind of go into a little bit more specifics on if we want to get involved,
how we can, and the process on that.
So, stay tuned, man.
Cool.
For sure.
Thanks, man.
So, I'll just give a quick rundown on Arcade.xyz.
It's a peer-to-peer NFT borrowing and lending protocol.
Take your NFTs, ERC-721s, ERC-1155s, native CryptoPunks, SuperRare V1 tokens, whatever it might be.
List them on the app.
Watch as offers come in from lenders to take out a term loan or list them with desired terms.
As long as you pay back the loan before it's due, you'll get your asset back.
But if you don't want to, you can always extend.
You can extend down, you can extend for the same terms, you can extend up.
But if you do happen to miss your payment, then the lender has the right to claim.
But there aren't any liquidations.
There aren't any oracles.
So, it's a straight-up peer-to-peer borrowing and lending application.
And as you mentioned with the RWAs, there's a lot of protocols coming on right now to tokenize RWAs.
And we're happy to support those NFTs, whatever they might be.
Watches, Supreme T-shirts, bankruptcy claims from FTX, whatever it might be.
We're happy to support them.
So, you know, owners of those assets can use them on-chain for liquidity.
That's awesome.
So, just a little bit about the brand itself, right?
Arcade.
So, you guys, in a sense, how long have you guys been together working?
And the arcade itself, how long has it been up as an entity?
Yeah.
We launched the protocol back in January of 2022 with our V1.
We just recently launched our V3, which is an immutable version of the protocol, just about a month ago.
The team got together in early 2021.
I joined the team in about the middle of 2021, where we did our seed round at the beginning for about $3 million, followed by an A round in November of 2021 for $15 million.
So, you know, we raised a good amount at a good time.
And then, you know, we've been sort of hard at it ever since.
We've done about $140 million in volume on the app.
We have about $12.5 million in outstanding debt at the moment.
For the past 12 weeks or so, we've been the number one peer-to-peer lending app in the space, which has been really exciting.
It's our first time that we've been consistently in the number one spot month over month since August.
So, that's really cool.
And our V3, like I said, is immutable because we're basically preparing the protocol for full decentralization.
And so, we should be launching our governance here any week now, which is pretty exciting.
So, with that being said, are you guys' main focus to be the actual NFT aspect or to break the RWA side and kind of cater more towards that?
You know, we're all about being composable here.
So, the first watch loan happened in early 2022, and nobody really cared.
That one was more of a proof of concept, but there were a lot of other things going on in the news at the time.
I think it was around the same time where the 3AC collapse was going on.
So, it didn't really pick up or anything.
So, you know, we didn't pay too much attention to it otherwise, but if there were people who came to us who had those tokenized assets, then, you know, we were happy to help them out.
But then earlier this year, when those other watches came on chain, fully organic, not a proof of concept, real borrowers, real lenders, that just happened to pick up at the right time.
And that's how the narrative sort of took off.
So, we definitely capitalized on that once it started taking off.
But, yeah, we're just a loan settlement layer.
Like I said, you know, if you want to get your NFTs verified on the app, it's really easy to do so.
Once governance launches, it's going to be even easier to do so, where you can just go to the governance site and basically request a collection be verified.
So, if there are other tokenization platforms that launch in the future or, you know, deploy the mainlet, they can just come and get their assets verified on the app.
And then there's plenty of liquidity.
You know, all these watches that get listed, they get a ton of bids on them right away.
It was fairly easy to get that big Supreme loan filled.
So, there's a lot of people who are sort of chomping at the bit here to get exposure to these types of assets on chain.
You know, we're thinking about what's next.
And, you know, I think you'll hear from us what's next fairly soon.
But for now, you know, Arcade is still just the loan settlement protocol.
And, you know, happy to bring on any assets, whether it's your Bored Apes, your Punks, your art, or your watches.
Oh, sorry, Chief.
I can't raise my hand because I'm on desktop.
But I had a quick question around the tokenization and verification.
I'm actually pretty familiar with your site.
I use it every now and then.
How do you guys verify your items with Brinks?
Is that who you guys use?
So, again, we're not the tokenization platform, right?
We're just the loan settlement layer.
The watches and the Supreme Loan have all been, or the Supreme Assets, that is, have all been tokenized by 4K.com.
And so, I would advise anyone who's interested to definitely look into them.
We did have a few watch defaults happen where the lenders were able to claim the NFT and then actually redeem the NFT for the physical watch on 4K.com.
And I'm in touch with those lenders who did that.
And they got the watches checked out and everything.
So, they came back, you know, obviously real and authentic and in really good condition.
But, you know, I'm not here to advocate due diligence on behalf of 4K.
But, you know, it's looking good on my end.
Does that answer your question, Manny?
Yeah, it does.
I really like your guys' protocol.
I used it to take loans on everything because I thought ETH was going down.
Then I swapped to stables.
And then it went down.
And then I swapped back.
And then I had enough to cover the interest and net a small profit.
Nice.
Nice.
Love to hear it.
So, I guess my question to you, Castro, is how exactly, well, I guess that goes into, well, maybe not.
The tokenization comes from a separate entity.
But how is it that you guys officiate the actual value?
Or who does the value prop aspect of the initial evaluation and then grant it the loan?
Since it is peer-to-peer, I mean, I'd assume that you set it at whatever you want.
But where does the base evaluation on you guys' end to facilitate this come in?
Or it doesn't matter because it's peer-to-peer.
So, they can put something outrageous.
And if someone buys it, buy it.
Yeah, you said it right.
It's not up to us.
It's about the parties who are, you know, trying to either fill a loan or take out a loan.
Normally, what I see is first-time borrowers always think their assets are worth more than they really are,
which is sort of an easy conclusion to come to if you've never participated in lending or borrowing before.
But very quickly, they realize that they either have to bring their terms down to more reasonable asks
by accepting the bids that get, you know, put on the app, or they just don't take out a loan, right?
So, I see first-time potential borrowers come to the app all the time and go one of those two roads, right?
So, but it's really up to the lenders, right?
They're essentially the market makers in this space.
So, if you have a, let's say, a floor of CryptoPunk, right?
I haven't looked at the prices today, but I think it was like 43 yesterday, 43.
Yeah, it looks like its best bids are at 43.5 right now.
So, you know, a lot of lenders will look at that number and they'll think,
okay, well, how much can I give you without taking on too much risk here?
And what we see is like an average of 70% loan-to-value ratios here.
But there are lenders who are definitely more conservative.
There are borrowers who don't need 70%.
Sometimes they need less.
But then there are also lenders who are happy to give out riskier loans.
Sometimes they make up with that risk by charging a higher APR.
Sometimes they're just super degenerate lenders who just don't care.
And maybe they don't mind, you know, buying the asset.
So, it's really up to those two parties to figure it out themselves.
And the cool thing is it happens all on chain, right?
So, I mean, there's plenty of stuff that happens off chain negotiation-wise.
But, you know, what I love to see is the stuff that happens all fully on chain where, like,
the parties don't even know each other.
So, it's all about just accepting which bid you want.
And then since it is peer-to-peer, similar to Blur, the default doesn't automatically default
unless someone goes and decides to pick that loan up.
Is that correct?
So, there is a little bit of a difference there.
But the way it would work on Arcade is because they're term loans.
If you don't pay off the loan or renew it by the time the term is over, the loan becomes overdue.
While it's in the overdue stage, a lender can actually come in and claim it.
So, they're just taking possession of the asset.
During that time, though, there's almost this grace period where if the lender wasn't around
or, you know, maybe they were on vacation for a week or something like that,
the borrower can actually still come in, pay off the loan, and get their asset back.
It's not until the lender basically calls the loan.
So, you know, I know that's similar to Blend, but it's a little bit more manual work.
And the borrower can still come in basically and pay it off.
Yeah, because I think with Blend, the minute that you don't, like, you go into that able-to-be-picked-up zone,
like, it's gone.
It's just able to be picked up.
And it doesn't really depend on the actual person extending the loan out anymore.
Yeah, right.
And Blend, you know, like, I personally like Blur.
I like the Blend product a lot.
And I know they sort of market themselves as a peer-to-peer lending and borrowing app.
But really, there's sort of this glorified options protocol, which is still cool, right?
But you have to go in there and manage your loan every 24 hours if you're a borrower.
But if you're willing to do that, because so many of us are terminally online, then, you know, it is a good product.
Right now, you're getting really low APRs on some of the long-tail collections.
Some of my favorite, personally, I don't want to shout them out and have people check out Blend instead of Arcade.
But, you know, it's really an options protocol.
And I think that's still okay.
But they do sort of push themselves as being a peer-to-peer borrowing and lending protocol.
And if you do take them into account, because they're refinancing their volume every 24 hours,
their volume is off the charts, like, quite literally, compared to the rest of the protocols that are out there.
And they don't, we don't, like, even register on charts with Blend volume on it.
So, you know, I do try to differentiate, not because they're doing so much volume,
but because that volume is basically every 24 hours.
And, you know, there are other options protocols in the space.
You know, Hook and Wasabi, two of them, teams that I know really well who are killing it right now.
Those protocols are the ones who, you know, feel like they're competing with Blend,
whereas Arcade and some of the other borrowing and lending protocols don't feel like we're competing with Blend.
Yeah, no, that makes 100% sense.
And then I guess there's just a couple more questions to wrap it up.
Fee-wise, what is the, I guess, facilitation fee that Arcade takes?
And does that come from which party, the borrower or the lender?
So Arcade, you know, we've sort of built this public good here since all year, at least, since last year.
There haven't been any fees on the app.
I think we had some fees in our V1 version, but we got rid of those.
So we've been almost fully operational, constantly building with 0% fees on the app.
You know, we really sort of doubled down on this public good for DeFi mindset.
Where that might change, so just before I move on to where it might change,
if you haven't used Arcade, now might be the time because it costs nothing to use it.
You're just, if you're a borrower, you're going to pay your interest to the lender.
And if you're the lender, you're not going to pay anything to anyone, right, except to the Ethereum network with some gas fees.
But, you know, where that might change is once governance is deployed here, the Dow might vote in fees.
In the V3 version of the protocol, we did sort of build in these fee levers that people could essentially turn on.
They could turn it on against the borrower.
They could turn it on against the lender.
They could turn it on for certain collections.
They could dictate what the percentage is for the fees and where it's getting charged against.
So I do assume that once the Dow takes over, they'll probably turn on some of those fee levers
because they do obviously need to become self-sustainable here.
But, yeah, so right now it's still 0%, though, and it's been that way for quite a while.
Will that be β and then, I mean, now you mentioned governance, et cetera.
Will the governance token be utilized also as a utility token throughout the DAP, or is it going to be separate as just the governance token?
Well, it's going to start as a governance token, but, you know, I fully expect it to sort of become more.
There's a lot of people who are ideating right now, people who are, you know, using the platform regularly,
who are power users who essentially will have sort of the power and buy-in to turn it into a utility token.
So, you know, it'll just be launched basically as a non-transferable governance token, but, you know, very quickly I think that's going to change.
Okay.
And then on top of that, I guess last question to more or less finish this up is on that,
I think that that's a little bit of alpha in the sense of the token itself.
Is that going to be through a public offering?
Is it through activity on the app, through some type of airdrop for users, or how exactly is that going to work?
Yeah, it'll be activity.
So I don't want to give away everything, but I'm happy to share what I've shared today.
But it'll be through activity, so people that are using the app will be rewarded.
And, you know, obviously there will be a retroactive reward there for everybody who's been using the app for the last two years.
But that doesn't mean we won't continue rewarding users.
I think it's really important to continue to bring on new users to the app and give them a sense of ownership.
So, you know, once we do that retroactive drop,
there'll be still plenty of opportunity for people to come in and start using the app and get rewarded for it.
Is it too late to get in that first drop?
Nope, it's not.
You know, I think we are really close here.
I don't like to give out dates because I think, as we all know, in the world of Web3, it's hard to stick to those dates.
But it's not too late.
So, you know, take that for what it's worth.
But there's, again, like I said, after the drop, there's still going to be a lot of opportunity.
I was going to ask you about governance, too.
I heard governance and DAOs.
And I'm like, oh, is it their job?
Are you going to get assets?
Probably transactions and using the protocol, usually typically how it's done.
I mean, as you have a personal question, I mean, I guess the Supreme thing is the one that really got my attention.
What is, like, maybe the craziest thing someone, like, put on your platform and took a loan out on?
Was it the Supreme shirts?
I think I would have to go with the Supreme shirts just because the value, right?
It was a $1.1 million loan, and it was so esoteric, right?
Like, I think that's maybe on the top list there.
I mean, some other ones that stand out to me, we had this two Mega Mutant vault on the app.
There were two of them that was getting 1,000 ETH.
That was, like, a six-month thing, and that was just a huge loan at the time.
ETH was higher than it is today.
So that was just sort of, like, shock value because of how much that loan was worth.
On our V1, we had two Zombie Punks in a vault that was getting 1,200 ETH that rolled over for, I think, three or four months.
And that was when ETH was even higher, right?
Now we're talking about early 2022.
So that thing was, like, worth $4 million at one point based on ETH prices.
So that also stands out, too.
But, yeah, like, the Supreme Loan, we had FTX bankruptcy claims on the app as well.
You know, those were RWAs.
That kind of slowed down, I think, as the FTX stuff is sort of settled.
There might be less demand for those bankruptcy claims.
That's just my two cents.
I'm not saying that's a fact there.
But, yeah, anything that's, like, worth a ton of money always stands out to me.
I remember the first time we had, like, a vault that had a ton of assets in it.
It was, like, 88 sandbox plots.
And so that was pretty crazy just because there hadn't been a bundle with that many assets at the time.
Since then, there's been plenty of bundles that have included 100-plus assets in them each.
But that one stands out to me just because it was the first one.
Yeah, I think also, like, the SuperRare V1 tokens, I don't think a lot of people realize those are nonconforming 721s.
So, like, early XCopy and early Cody, like, those can't actually be used on any, like, lending application.
There has to be a specific sort of functionality built into the protocol to support that stuff.
So whenever I, like, I love seeing the art.
I'm really into the art stuff.
But when I do see, like, the SuperRare V1 tokens get listed and successfully escrowed, that gets me pretty excited, too,
because we're opening up, you know, a line of liquidity that wasn't able to be opened before that.
And the same goes for native punks.
But, you know, we've had rap punks for so long now that it's not as exciting, at least for me.
But, yeah, I would say definitely Supreme, definitely the Mega Mutants, definitely the Zombie Punks,
and just, like, the sort of esoteric art that hadn't had a, you know, ability to be collateralized in the past until only recently.
We sort of launched the SRV1 support only, like, three or four months ago now.
Yeah, you guys are killing it lately with the same spread.
And now you have, like, with Pete Anadol, people taking loans on that.
Like, it seems like a lot of these high net worth art collectors, you're, like, they're, you know, loan protocol of choice.
So you guys are making a name for yourself.
And I don't know how this non-transferable token is going to work.
But, I mean, if I could have a chance to buy some of this token, it seems like you guys got a bright future, man.
So thank you for being a sponsor for the Daily Alpha.
Thanks for coming up here and answering questions for us.
And, yeah, we have notifications on.
And we'll keep the space updated on any kind of new updates or announcements you guys in the coming weeks, man.
Yeah, I love it.
Definitely keep those notifications on for at Arcade underscore XYZ.
Just with the non-transferability real quick, if I can, like, the first thing that's probably going to get, like, governed into is making the token transferable.
So we're just trying to really do it the right way.
You know, we're not looking at this as a liquidity event.
So it's going to be up to external parties to decide how they want to sort of handle the token.
But I do expect the first thing to get past is making that token transferable.
So we'll see if I'm right there.
And just real quick on the art stuff.
Yeah, I think we have a battle-tested protocol that's just gone through a whole lot and just withstood the test of time like no other in the space.
And about half our volume and half of our outstanding debt right now is art, whether it's fine art or gen art.
So that's pretty exciting, you know.
There's still plenty of room for the long-tail assets, for your apes, for your punks, for your pudgies, of course, your m'ladies, whatever they might be.
But, yeah, people just love bringing the art on the app.
So, you know, and I love that because I literally love the art.
So it's fucking awesome to see.
Sorry if I wasn't supposed to swear on this.
No, you're good.
How many Opepins do you have?
Oh, I only have a few.
All of mine are, I think I have five or six.
This one's a custom one by Panda, who's in the audience.
He's a really great artist based on influenced by my hot frog from Tony Turbo, my Solana NFT because, yeah, I'm one of those guys, too.
But I only have one revealed, and it was the DVD one, which I love because I love DVD and I love what he does.
So I know there's a lot of fun around that, but I was happy to get a reveal there.
But I still got a bunch of unrevealed, and hopefully I can hit a big win here, man, because I would love a set one here in my collection.
Those are fucking sick.
That would be sick.
You know, wish me luck here.
The market's not doing too well for me to get in that position, but maybe eventually.
I think you'll be fine.
You just got to be a little patient.
I mean, I guess a little personal.
Like, how long have you been in crypto?
How long have you been, like, what was kind of some of your previous endeavors before you got into Arcade?
Yeah, I started a while ago, but I didn't start taking it seriously until early 2020.
So, like, I was right in time for, like, DeFi summer.
And at the tail end of DeFi summer is when NFTs came onto my radar.
And that's sort of where I met the founders.
So that's how we linked up, and that's how I was able to join the team so early.
But, yeah, I would say, like, 2016 was the first time I started buying some coins.
I just didn't know what I was doing.
You know, any ICO that came out, I bought and just held it to zero, right?
So, you know, you had to learn your lesson there.
And then anything I held from 2016, by the time 2020 came around, I capitulated on because it was basically all Litecoin and Ripple.
So I was like, well, this shit isn't going to, you know, work out too well for me.
But, yeah, like, DeFi summer really sort of ignited that fire for me and made me double down on my efforts in the space.
And they've paid off in multiple ways.
You know, the whole team that built Arcade, like, we go nonstop.
I mean, you know, I don't know, like, how anybody, like, gets enough sleep.
But the thing is, none of it feels like work.
Like, we're, like, building and we love it.
And we talk about it all the time with each other about how much we love it.
So, like, you know, I'm terminally online all day, like most of you are.
But most of that time is spent focused on Arcade and just continuing to build it and make it a better product.
And it's awesome.
So, you know, doubling down three years ago was well worth it.
And I always encourage people.
Like, you just got to stick around and you'll figure it out.
But maybe I'm just biased.
I don't know.
But I do believe that.
No, it's facts, man.
It's facts.
We've been doing this for over a year and a half.
And the consistency pays off.
And, like, you got to be really patient in this space.
A lot of people like to put artificial deadlines and want to, like, get things done in, like, six weeks.
If you really zoom out and you see the vision of crypto and you want to be here, it's going to take some time to, you know, us to, you know, hit mass adoption.
But it doesn't mean the people that ventured into Web3 aren't coming back.
It might take, you know, some kind of speculative event.
But I think we have enough people that know about Web3 to make this place fruitful and make this place and innovate.
Like, I think we have enough people.
And if you just stick around and you put your head down, usually, typically, things pay off in the world.
So, shout out to you and shout out for Arcade.
And, like I said, I appreciate you coming up and answering the questions.
And also sponsoring the Daily Alpha, man.
It means a lot.
So, appreciate you coming up, man.
Thanks, guys.
Appreciate it.
Keep up the good work here and happy to keep sponsoring you guys.
Oh, that's awesome.
That's awesome.
Yeah.
So, that kind of ends the AMA.
And, you know, the show is five minutes from ending.
So, I think, you know, typically we would jump into another topic.
But I think it's just good to probably end it now and get on our way.
So, I do appreciate Castro and everybody else in the space and listeners for supporting and coming by and, you know, listening to what we have to say.
And, you know, hopefully we taught you something.
Maybe you learned something today.
And that's kind of our goal is to kind of give Alpha, talk about stuff you didn't hear about,
and possibly position you in a better spot than you were if you didn't listen.
So, it's TDA.
We run it from 945 to about 1230.
And I'll talk to you tomorrow.
And I'll leave it here for Chief to give one last sponsoring and to end it.
So, I'll talk to you guys tomorrow.
It's Friday.
And we've got two more shows to go.
So, we'll see you Friday.
Talk to you then.
Yeah.
First and foremost, appreciate everyone that comes out.
Appreciate Castro.
Appreciate Arcade for, one, sponsoring and also providing a product that's worth looking into and that can be utilized, right?
So, sum it up, guys.
The show is sponsored by Arcade.
We did hear the vast majority of what I'm about to say through Castro, but still some notable points.
Over $140 million in total volume on the protocol.
Average loan size of about 44K.
Low industry, low default rate of 8%.
And roughly about 3,200 loans right now for a total of 12,000 NFTs.
They are the leading DeFi protocol for NFT lending and RWAs, real world assets.
So, feel free to check out Arcade, guys, and shout out to them once again.
This is the TDA.
We do this Tuesday through Saturday, 9.45 to about 12.31 p.m. Central.
And it's TDA or Stay Poor.
We'll catch you guys tomorrow.
Y'all be safe and have a good rest of your day.
We'll catch you guys tomorrow.
