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TopeTalk Ep 36: Disruption in Web3 Feat. @onchainmonkey & @sansound3
Recorded: Feb. 23, 2023 Duration: 1:27:30Space Recording
Full Transcription
Oh, oh, oh, oh, oh, oh, oh, oh, oh.
Oh, oh, oh, oh.
Oh, oh, oh, oh, oh.
Oh, oh, oh, oh, oh.
Oh, oh, oh, oh.
Oh, oh, oh.
Oh, oh, oh, oh, oh.
Oh, oh, oh, oh.
Oh, oh, oh, oh.
Oh, oh, oh, oh.
Open up, open up.
Let the ring come down.
Let the ring come down.
Open up the skies.
Let the ring come down.
Let the ring come down.
Showers, showers in love.
Let the ring come down.
Let the ring come down.
Let the ring come down.
Open up the sky.
Let the ring come down.
Let the ring come down.
Open up the sky.
Let the ring come down.
Open up the sky.
Let the ring come down.
Let the ring come down.
We'll be right back.
We'll be right back.
We'll be right back.
We'll be right back.
We'll be right back.
We have no idea what we're doing and maybe came up with a new term for insanity.
But here we are together.
So if we're going to be insane, we might as well do it all together and spend all of our money on Blur, according to every other Twitter space you go into.
So with that being said, thank you, everyone, for getting here early on time.
I know we have a couple guests to come join us.
And so, yeah.
Sorry, I was getting a text message.
Yeah, we're going to let people fill in.
Please, please, please retweet out the space.
Let's get everybody rocking and rolling, seeing that we're here, that we're active.
Who's active right now?
These guys.
Who would have thought?
You know, I figure if I โ the only way that we can really show we're active nowadays is by posting that and by posting gym pics.
You know, because every single one of us is musculared, steroided, and testosteroneed out of our minds.
I mean, we definitely โ everyone here goes to the gym, constantly not trading NFTs, not spending our entire day on Blur.
And, yeah, that seems to be the going trend.
So let's kind of let things move around here, getting people on the stage, getting people set up.
We've got a couple of special guests.
We've got โ dang, look at this.
The monkeys have invaded.
They are here in full force right off the bat.
That's what I like to see, the on-chain team just rocking and rolling.
You know, I'm so happy to have you guys here.
It's something special.
Obviously, you guys have really put โ you know, set yourself as a staple in the ordinal side of the world,
which I think the majority of everyone in this space is still trying to figure out.
And it's good to have a team that's really, you know, really just becoming an industry leader on that side.
So I'd love to dive into some things with you guys there.
We also probably โ obviously, it's hard, inevitable to not talk a little bit about Blur and this current marketplace war that we're seeing on the โ you know,
it just keeps getting bigger and bigger.
We've got a Coinbase NFT drop that happened today, free NFT mint.
If you haven't done that, the floor on the secondary market is lower than the mint price.
So make a decision how you want to actually achieve one or, you know, get one.
But you've got options.
You've definitely got options.
You don't have to go to the other route to, you know, mint one.
The gas price today rock and rolled from that.
So I think between some obvious rugs that are moving around and the OpenSea drop and some mint happening, the gas price has moved.
So, you know, let's talk volume in a little bit and see kind of how everyone feels about that.
I mean, is this good volume?
Is this kind of just a waste of our time volume?
Are people making money?
Are people losing money?
And, yeah, then we can jump into some ordinals.
Love to get some more information on that.
I know a lot of us here, myself included โ personally, I'm looking to enter into the ordinal side at some point.
I think it's going to be an on-chain monkey, personally, and I'd like to, you know, talk to you guys about that stuff.
And really, we're โ you know, everyone that's been here before knows that we're pretty open when it comes to conversation.
We just want to โ we want to let people that really know what they're talking about to kind of, you know, get a good take out there so that maybe somebody learns something first and foremost.
That's the most important thing is to keep learning and keep continuous education with each other.
So let's get started here.
I've got Mr. Walker on the co-host.
Are you here, Mr. Walker?
Because my screen has been wigging out of its mind trying to get you as a co-host.
All right.
Well, Walker is still wigging out of his mind.
Anyway, let's move on to Mr. Crypto Medic.
What's going on, bro?
How are you doing today?
How's the ghost treating you?
All right.
Well, I don't know if anybody's here, and I think they are.
I think I'm just having issues with maybe my sound.
Are you here, Mr. Medic?
I'm here, buddy.
I'm here.
I hear you.
Everybody's just ignoring you.
You know, you're not saying anything anybody wants to hear.
Much love, everybody.
I'm so glad to be here.
I'm so glad you guys all turned out.
Just excited to hear what the discussion turns into today.
As always, everybody pull up a seat.
Let's see where this all goes.
Yeah, great idea.
Get yourself a nice...
Well, let's see here.
It's 6 o'clock in Florida.
So yeah, it's definitely time to get a beverage.
It's time to, you know, really just get ready to hear some awesome content.
Oh, here we go.
We got Sam Sound in the building.
It's our other special guest for today.
And keep in mind, we do have people that pop in and go that are going to come on the stage
and just hang out with us for a little bit.
We got some friends that typically, you know, maybe be on the other coast.
So they are still going out with their Web 2 life.
But yeah, when they get in here, they'll hang out.
As we move on the other side, Enzo, what's going on in South America, my dude?
Yo, what's up, man?
I've been having a great day here.
Actually, it's been kind of nice.
I can't complain about the weather.
I'm actually walking Shelly out to...
She's going to go to Carnival.
Carnival!
Woo!
So yeah, I'm actually walking her out.
I'm going to stay so that I can listen to the entire Tok Tok space.
But yeah, she's going to go have fun tonight.
So very fun to be here.
I don't know what's wrong with you, bro.
I'd be going out with her to Carnival.
We're not that important, but I mean, I would be out on those streets.
I'd already be probably out of my mind.
I'd be wearing Carnival outfits by now.
Probably, you know, belly button hanging out and stuff like that.
Is that what you're going to do?
I actually don't enjoy Carnival as much as, you know, the rest of Uruguay.
It's a lot of political stuff.
And since I'm not big on Uruguay politics, I don't actually get the jokes that they're saying.
Because it's mostly a parodies and then a lot of, like, you're weighing traditional drumming.
And yeah, I'm not actually big on politics or parodies.
So yeah, it's not really my thing.
But I do like the dancing that goes on.
It's quite fun.
But aside from that, nothing else, you know, nothing too exciting for me.
Well, I'm not sure I want to see you dance.
But, you know, maybe someone out there does.
So I'm glad that you and Shelly are going to have a great time dancing together.
And yeah, refrain from any, you know, videos going into Slack later this evening, please.
I'm just kidding.
If you got anything cool, let's see it.
Let's keep moving here.
I'm just going down the list.
OnChainMonkey, what is up, guys?
How are you?
How's Twitter space or how's Twitter life been?
Because I see you guys active every freaking day of the moment.
Of every moment of the day, sorry.
Hey, yeah.
Thanks for having us on, guys.
This is Mike.
I work with Danny, Amanda, and Bill.
They're the co-founders of MetaGood and OnChainMonkey.
Danny and Amanda will be joining shortly.
I see we've got a lot of amazing monkeys in the crowd.
If everyone wants to hit that lower right-hand corner button, hit us with the rise.
We'll get some more folks in here.
Yeah, and it's a really exciting time to be an OnChainMonkey.
You know, we launched our Genesis collection on Bitcoin using the Ordinals protocol
and became the first 10K collection on Bitcoin a couple weeks back.
And, you know, we've been building since September 2021.
That's when we launched Genesis on Ethereum.
And, you know, we've got a rich ecosystem, an amazing community, and a lot of stuff in store for all of our members.
So, really, really excited to be here.
We should have Danny and Amanda joining real soon.
Yeah, for sure.
They can take their time, man.
We typically hang out for a little bit, and it's very open forum.
So, you know, it's going to be really cool to talk to you guys and just ask some questions.
I think a lot of us, you know, would love to just get more clarification on when it comes to all this stuff.
You know, you guys are also, it seems you've been using the word RISE a lot.
Do you mind clarifying for people that don't know what you're doing with that keyword?
Yeah, so RISE is the values of OnChainMonkey and our company, Metagood.
So, we established those values really in, like, the first week of OCM, right after we launched Genesis on Ethereum.
And it stands for, it's an acronym that stands for respect, integrity, sustainability, and enrichment.
And those are the values that we stand on as both a company and our community.
And so, you'll see Monkeys saying RISE everywhere.
It's kind of like our, that's our signal sending out into the space, you know, that we are here to build wealth, but we're also here to do good with that wealth.
And I see we've got Amanda on stage with us.
I'm super excited to have her here.
And, yeah, RISE is really, it embodies everything that we do, both as a team and a community.
GM, GM, hi.
Started running a little late.
How are you guys doing?
What's up, GM, Amanda?
I'm good.
Good to have you with us.
Yeah, super excited to be here.
Yeah, I think Jordan was telling me that you guys met us at NTNYC.
And I think I was running around at the time when you guys might have met us at a booth or something.
But, yeah, I know it's been a while back, but it's good to talk to you guys again.
Yeah, I was excited when Mike mentioned it.
So, yeah, definitely looking forward to chatting with you guys and sharing a little bit more about OnChainMonkey.
For sure.
Let's jump over real quick to the San Sound team.
What's going on?
How are you guys doing over there?
I know you had some interesting, like, you know, Web3 stuff going on lately.
So I'd love to just kind of check in real quick before we dive in.
Yeah, absolutely.
This is Flew.
I'm one of the co-founders.
I'm head of partnerships.
And I'm kind of standing in for Devin, who couldn't make it.
He's still on the plane right now.
He was going to land and kind of do that, but I think he got kind of delayed.
So glad to be here.
Absolute honor to be next to OnChainMonkey, which is a project that I've looked up to for some time and been really, really excited about.
If I was already getting paid for what I do every day, I would definitely go out and get one.
But I'm not yet.
So I'm just going to chill.
I'm going to wait.
And I'll probably pick it up whenever it's like ten times this price.
You know what I mean?
But I think that what y'all did like immediately upon the kind of the advent really of Ordinals was awesome and all the respect in the world for that, which kind of leads into the whole disruption factor.
You know, like making it โ and actually what's funny is that on my main account, like my personal main account, I had held a space during like the rise of Ordinals.
And someone came in and they were just like โ they're a monkey and they're a friend of mine and they were just going off.
And they were like, dude, the only motherfucking team that understands this is OCM and y'all need to recognize this effect.
And I was like, oh my god, this guy's like witnessing โ I wish that I could like โ actually, I'll probably message you later, OCM main, and just be like, you know, this is this dude and you need to like โ I don't know, like fucking give him a check or something because he was shilling his heart out for you guys.
But it was awesome, man, and he was like, you know, this is the team that I think has like the most technical know-how in the space, blah, blah, blah.
Speaking of technical know-how, though, Jacob just came up here. Jacob is the song community manager. What's up, Jacob?
What up, what up?
Jacob just got done โ did you ever post those videos, Jacob?
No, we're working on some visual content to go along with it, so it'll probably be like within the week.
Awesome. Well, Jacob just got done making some educational content on like how to bridge to optimism because we've been dropping some free NFTs over there for holders and stuff.
And I've been getting the question a lot like why optimism, why optimism, and I hope that after today's news people can kind of understand why optimism.
But, yeah, Chris, that's it, man. I'm kind of all over the place, though, but I appreciate the invite today, and I look forward to getting down into it.
Yeah, no, for sure, Flew. You know, when I first met you in the spaces, I had a lot of respect for the takes that you were giving.
It just seems like, you know, you have the passion for this industry, and, you know, that was why I thought when I did a little more diving into what you guys are building, man,
I go through headphones like nobody's business. I'm on like my hundredth pair of AirPods, and if I'm going to keep spreading this kind of money, I might as well get something Web3 enabled.
So that was like kind of the whole, my first run into you guys. So we'll dive in a little deeper here in a second with everybody, but we'll just keep going through.
I know Walker's having a little bit of a phone issue, so we'll skip him for now.
But let's get to the founder of Metatope, Mr. Jordan Yallen. How are you doing, buddy?
Hey, guys. Good to be here. Thank you all for joining. Big fan of both your projects, and I want to give a quick shout-out to Amanda.
Amanda, we met at NFTNYC at Eric's Founders Dinner. I don't know if you remember that, but I had a great chat.
It was right before the karma mint, and I minted a few karmas. But yeah, love the project. Great to connect again, and yeah, excited for the space today.
Cool. Yeah, awesome. Hi.
Oh, that's so funny. It's real-world events are cool because it's always good to circle back around with people that you might have met and just lost contact with, and we're all still building.
That's the most important thing is everyone's still here.
It was a great โ that's the best part because I'm sure there's people we all know that aren't still in this industry that maybe we've met.
And yeah, so going forward from there, I think, Walker โ Walker, are you here? Are you still kidnapped by Twitter aliens?
I'm in the building, baby.
Oh, jeez, I'm scared.
It took quite a few troubleshooting issues, and I'm not talking about the typical restart.
We had to dive deep into the Google rabbit hole to figure out the issue, and I'm not quite sure what it was.
But we're here now. We've got a great panel, and we're going to have some good discussions.
So let's get it.
For sure, for sure.
And, you know, real quick, before we dive into โ start moving into some interesting conversation, if anyone does have questions, feel free to always request.
We โ you know, this is a โ we'll rotate if needed for people that come up and go.
But, yeah, don't feel like any questions stupid.
If there's something about the projects โ and keep everything in good taste.
You know, the industry right now, we're getting blurred out of our minds.
We can only take so much pressure.
I'm lost.
You know, let's put it that way.
I used to live on OpenSea.
Now I feel like I'm losing a best friend.
They haven't done anything for me, and Blur's over here giving away free money.
So, yeah, let's jump in.
So with everything going on โ
Chris, Chris, I just want to state, don't get so blurred that you're disrespectful.
The only rule of the space is just be respectful.
You know, this is a family-friendly space, and we want to make everybody feel welcome.
So with no further ado, hit it, Chris.
I know.
I love OpenSea.
I still look.
I'm not spending, but I look.
I got to get my โ I'm 100% loyal to Blur, apparently.
I didn't know that.
It's purple.
So that means I like the color purple.
So, yeah, so let's jump in.
So with everything changing now, we're seeing a lot of these different airdrops popping out on these different type of โ
it just seems to come in a new meta to increase usage and increase volume on marketplaces.
I guess OnChainMonkey, as a collection that has been moving between one to two weeks โ
I mean, you guys popped over two weeks for a while there.
You know, are you seeing a lot of this volume coming from these external marketplaces outside of OpenSea?
And is it affecting you guys?
Because I feel like you're able to see maybe OnChainMonkey versions or traits that typically don't hit the floor might hit the floor because someone's just volume trading, right?
Are you seeing people finding their grail that they've been looking for and really being excited about that movement?
Yeah, I would say if you just check kind of the OnChainMonkey Twitter feed, we were super lucky.
We were on ApeTank last week, which is kind of like the shark tank for Bored Ape Yacht Club.
And we've had a couple big ape holders, you know, really like in our Discord and finding their forever monkeys.
And as you know, we were the first 10,000 collection on Bitcoin in a single inscription.
And so now the new meta trait that's super hot is Orange Background, and so people have been like scooping those up.
So, yeah, regardless of all the craziness that's happening around creator royalties with Blur and OpenSea, we're just super fortunate.
Actually, we were on Rug Radio earlier this week, and Farouk was saying, wow, you guys are just organically growing.
Like the demand is just there for OnChainMonkey.
So we feel super fortunate.
And do you feel like a lot of the education, I mean, when I've heard good things talk in a space before, which prompted me to kind of reach out and see if you guys wanted to jump on something like this.
You know, did you do you feel like you're spending a lot of time educating versus like, like not shilling, but like you're getting more like actual really good questions thrown your way where you're able to tell people more about ordinals versus your project?
I would say definitely like hats off to my co-founder, Danny Yang.
I mean, that man has been on, I don't know, countless hours of spaces, really kind of the recognized one of the recognized experts on NFTs in Bitcoin.
I mean, again, just super fortunate to work with him.
You know, he founded the Stanford Bitcoin Meetup back in 2013.
You know, he created the largest cryptocurrency exchange in Taiwan.
He was just at Satoshi Roundtable.
So he was just with, you know, he's about as OG crypto as it gets.
And then, you know, obviously understands the BTC maxis.
And so, yeah, he spent a lot of time, you know, just explaining, you know, how ordinals work, why what we did was so unique and special.
You know, getting 10,000 profile pic collection into a single inscription versus doing kind of one inscription at a time for each NFT.
And how really it was such an energy efficient way of doing it, you know, 20,000 kilobytes.
And so I think there's been a lot of, you know, education because it is such a new space.
It is a new protocol.
People are very excited about it.
And, yeah, I think he is and Mike and the whole team has really done a great job kind of educating the space on ordinals and how other generative artists could also potentially, you know, also mint on the Bitcoin blockchain in a very efficient manner.
Yeah, to answer your question about the volume.
So we're very fortunate in that most of our volume has been organic.
Like I know there's a ton of farming going on.
We've we've just been super busy.
So I haven't been able to dig into it, like to look for myself, like into detail.
But obviously, like there's a lot of farming happening right now.
And we're very fortunate that our our volume is basically mostly like all are organic.
And people have been snagging rares for sure.
We've had several like four plus ETH sales.
We just had a five ETH sale of a naked monkey.
So it's really cool to see big collectors like Captain Trippy and General Gordon.
Shout out to them.
They've been sniping grails.
I think General Gordon sniped like three grails the other day, picked up a 10 ETH naked midnight fur.
It's that's a kind of a special meta trait within the OCM Genesis collection.
So we've been really fortunate throughout all of this.
You know, it's it is kind of a while another wild episode in the many wild episodes within crypto over the years.
But, you know, we're very lucky to have like a robust community.
Our community is it very much feels like the bull market in our discord.
And, you know, I'd highly recommend anybody that's interested to learn more about ordinals, Bitcoin or anything that we have in OCM to jump in that discord because our community is there.
They're always happy to educate.
And Danny, Amanda, myself and many of the team members are always there as well.
Great. Now, that's that's perfect.
It's always good to have an outlet for people that can't make like in person or live situations like this to go and get that information and presented properly.
I mean, I hope one day we have something better that everyone migrates to from discord.
You know, I feel like it's 100 percent more centralized for like a gaming community.
But like it's what we got now. So I appreciate you guys putting in effort to make it a little bit more like, you know, interactive and at least like providing the team that like we'll get back to people because there's nothing fun about opening like tickets and then like feeling lost in the sauce.
And you just never, you know, and then you forget to go check back and both sides wasted time trying to get something achieved.
So that's definitely really cool.
And, you know, like when it comes to you guys, Sand Sound, when when you guys you guys are doing more like a fidgetal collection.
Right. So, like, are you guys have a lot of discord presence or is it like more or less like where do you where do you in a fidgetal sense?
How are you connecting with people? Because you need to find ways to ship items.
Right. Like you have to have some sort of KYC set up so that I could get some headphones in the future.
Is that true?
Yeah. So what we do is our main gathering spot is discord and Twitter.
But we also have what's going on tonight, 9 p.m. Central Standard Time, 7 p.m. PST, is we're actually having our weekly Twitch stream with with Kaku and Crow.
So Crow Magnus does live art in the background and then Kaku Berry does the DJing, plays live music.
And it's an event. And so I would I would invite all of my monkey friends down there to come by and hang out just twitch.tv slash sound sound three.
And we could we could even like throw up like a monkey on the on the in the art or whatever if we get enough monkeys in there, man.
So like absolutely just come through. I'm not asking you to buy anything. Right.
Because like that Twitch thing, Twitch is just community. Twitch is just like vibes.
Twitch is just like we listen to music and we we hang out. Right.
And that's really what it's all about, because it's regardless of anything else, it's all about the music.
It's all about supporting individual and independent artists.
And that's really what the most important thing about the whole project is, is because that's the whole goal.
We have the music platform that we're building to let artists take more control over their own careers using blockchain technology.
But the artists never even have to know that the blockchain comes into it.
So we don't talk about NFTs. We don't talk about floor price.
We don't talk about anything financial whatsoever.
We just turn on music with with Kaku and he mixes.
And we've got like a new request line today that we we opened up right now.
Like today, I think about two hours ago in the discord where you can actually suggest songs for Kaku to play and to work into a set.
And so I'm really excited about that.
I obviously being the the wonderful human, awful person that I am, I suggested Freebird and I don't think he's going to play it, unfortunately.
Hey, man, Freebird's a great song.
I would have not been my first choice, but, you know, like, that's cool, too.
It's definitely cool.
I think Rick Roll would have been a pretty good choice, but that's just me.
I already did that on the last space.
You were there, right?
Like we the people.
Yeah, we were playing the mashups during last week's Friday space that I do.
And so we were doing mashups, doing interesting mashups.
And I think everyone was like jamming along to like Teen Spirit or something.
And then the Rick Astley kicked in.
And I think no one expected it.
No one expected it.
It was good.
Well, I haven't been Rick Roll in a long time.
I think I was trying to watch like something on YouTube and it was like some special trick or something on a skateboard.
And I got Rick Roll.
And yeah, it's good to get every once in a while.
It keeps you on your feet.
But yeah, typically on these, you know, when you spend most of your day trying to stay in Web 3, Rick Roll isn't really a thing.
I think people would be kind of take it the wrong way and be like, all right, this is a rug.
So it's funny.
But luckily, luckily, none of that's happening.
When it comes to like, you know, that digital item, I guess like my question really goes to like, you know, I feel like a lot of this space, a lot of the hardest thing to do is KYC.
You know, a lot of people want to they don't want to click links, a lot of a lot of walks are getting drained lately and stuff.
Is that something when you guys are going towards like more of a digital collection?
Like, how do you alleviate the pain for somebody to make it so like that they can get that like, like, I would assume because I'm asking for myself.
Really, I'm asking how I'm going to get my headphones in the future and how that process kind of works.
Right. So we actually partner with a with a third party called One of None.
And it's founded by two ex-NFL players, Kai Forbath and Sean Kaiser.
And so whenever you have a claimable item, which in this case is going to be an NFT that we issue for each claimable pair of headphones that someone has,
they would then go through that partner to be able to like redeem the NFT.
Or you can keep that NFT just as an NFT and those those actual devices are held in the in their vault.
And so the way that they came up with this whole vaulting system over there is that Deshaun, whenever he was playing for the NFL,
he had to move like six times in like four years because of his jobs.
Right. And so he has like 300, 400 pairs of sneakers.
And so he would each time have to move those around and it was like a massive pain point for him.
So he was like, well, what if I still had this value?
What if I still had this thing?
And then like it was represented by an NFT and then it was just safe in like a secure, protected warehouse that that like, you know,
someone had control over, someone had proper security at, so on and so forth.
And then if and when I wanted to claim them, I'd just like burn that NFT, they'd ship it to me.
And then if I if I wanted to send it back and make it so I could actually utilize the asset again, like sell the asset,
I would ship it back to them and then they'd regrade it.
They'd make notes about the current condition.
Condition. That's the word I was looking for. Condition of whatever the item was.
And then they would reissue an NFT that actually represents the new condition of the item.
And so that's the kind of system and that's the kind of distribution model that we're working with.
So it's through them.
That way we never we never get direct exposure to like addresses and names and things like that.
And it doesn't even necessarily need to be linked to the wallet.
Initially, it will be.
But going forward, once we have that ZK layer in place, it will not be linked to any individual person.
Oh, that's really cool.
I mean, that's a great use case for your ZKs.
So thank you for answering that, man.
That's that's interesting.
I'll definitely have to look more into that.
But that is a really good way to to to eliminate or not eliminate, just reduce a lot of exposure and risk.
Crypto Medic.
Oh, go ahead. I'm sorry, Santa.
Yeah, no, it's it's it's fine.
I'm sorry to cut you off.
It was just yeah, the interesting thing is, is that there's no real transactional purpose to the site
other than to buy and sell collectibles.
So it's very much like a purpose built site for that.
So it's it's just a it's a good way of kind of like handling that end of things as a as a fulfillment layer, I guess you call it.
For sure.
Sure. Yeah, that's a part of the process that you've got to fulfill what you're trying to do.
And I mean, it sounds like you guys have a good way to make things go easy and smooth for a consumer that needs to have that extra layer of security from a third party.
So I dig it, man.
Crypto Medic, let's run over to you real quick.
Thank you, my brother.
Just great conversation.
Listening to both of the projects, I kind of have a question for on chain monkey, I guess.
Talking of ordinals and everything that's coming out now, we're seeing a lot of discussion about this.
What are yours or the other panels thoughts on?
We're seeing this rise right in volume now on Bitcoin.
I think we can all see where this potentially is going, right?
It's going to begin to raise the fees on Bitcoin.
We're going to start heading towards where we already are in ETH.
And is that disruption, right?
We're talking about disruption.
Is that potentially going to disrupt what Bitcoin was built for, which was to be used as a monetary item?
Yeah, so I think I think it's a really good question.
And I've heard so many discussions on this over the past couple of weeks.
I actually heard Casey Rotomar speak about this.
Danny Yang, our CEO, has talked about this at length on many different spaces over the last couple of weeks.
And, you know, I think I think we see as a company and as a community a huge opportunity to build real community on Bitcoin.
We see ourselves as the first 10K collection and the first real community on Bitcoin.
You know, we've built an amazing group of folks, really a conglomerate and a digital wealthy nation that is on chain monkey on Ethereum.
And we're going to bring that same level of talent, passion and, you know, building on Bitcoin.
Ultimately, Bitcoin is a permissionless it's a permissionless protocol.
So it was designed so that people can build as they wish on it.
And, you know, basically, that's how that's how open source software works.
Basically, you build, you know, people, engineers, architects, product people like they come up with ideas and they implement.
And ultimately, that's what's going to happen on Bitcoin.
And it was kind of inevitable because, you know, basically what's happening now is you can store larger amounts of arbitrary data on on chain.
And that was enabled by Taproot and a few other upgrades.
And as soon as that happened, you know, basically open the door and the toothpaste is out of the tube and there's really no going back.
So the way we look at it is, you know, we're building on Bitcoin the right way.
We're building it where we respect building a way where we respect everybody else's ability to use the network.
So when we put all of our 10,000 Genesis monkeys in a single inscription with, I think, around 20 kilobytes of data only, you know, that's the that's the way that we see that people should be building on this.
I think people are going to continue to inscribe large, larger collections, one at a time, one one inscription at a time.
I don't think that's the most efficient way to do it, but that's how people, you know, some people will continue to do that.
But ultimately, we're we're we're looking to lead the way on Bitcoin as far as NFTs go and do it in an efficient way, you know, respectful way and really kind of the OCM and the Bitcoin way.
Awesome, man. Thank you for that.
Did that answer everything you needed, CryptoMedic?
Yeah, absolutely. Thanks so much. And I'd love to hear if anybody else has any comments.
Sure. Let's run over to Jordan.
Yeah, I think this is an appropriate name for the space about disruption in Web3 because and I think obviously that's one of the goals of Metatope.
But both of you guys are doing incredible things where you're taking a different stance and a different angle at this incredible industry.
One of my frustrations has been and the reason we got into we started Metatope two years ago is I have a background as an attorney and the blockchain has always fascinated me.
Smart contracts, non-fungible tokens, all of it has just been fascinating to me.
And when I got like almost upset seeing the use cases were really just meme culture.
Right. And how much potential there was.
So I think this this question is more for Amanda and on Shane Monkey side.
I really love the whole rise ethos.
And you guys just talked about doing ordinals the right way.
Right. It seems like everything you're trying to do is is with that higher level thinking, highbrow approach.
That's a huge goal of ours.
And have you seen kind of difficulty in adoption in this industry where we're really mean culture and somewhat of like a 4chan culture was was at the inception point.
Has that been a challenge for you guys and how did you overcome it?
I mean, I think just given from the start, we talked about rise and is our inner values, which is, you know, respect, integrity, sustainability.
And we talk about sustainability again, just for anyone who's new to on Shane Monkey, we were the first profile pick collection all on Shane in a single Ethereum transaction.
So that in itself was very energy efficient.
Then we did it again, obviously, with Bitcoin, with our 10K collection.
So, you know, in terms of sustainability, always thinking about like building in a sustainable way.
And then enrichment.
So, you know, because we've been very vocal about our values and, you know, we wanted to create a collection that would create wealth for our community.
So then they could use that wealth to help their families, their communities, do real world good on whatever scale they want to do.
I think we've just attracted like a community of people that are a little different maybe than the norm, norm culture of the kind of kind of Fortran meme culture.
Just because people, you know, who could join us, I mean, they're diamond handed.
I mean, even at the top of the market, people weren't wanting to sell their their OCMs.
I mean, I think we've been one percent listed for a very long time until very recently.
And now we're like two percent listed.
So it's like we have a super diamond handed community because those values resonate with them.
And, you know, we've created a ton of value for our community.
I mean, I think even before kind of the ordinals pump, we did the math because we were, you know, just like off the back of kind of like how much did people buy and how much did they sell for?
And, you know, we created over twenty five million dollars in value.
So as a free mint, I think probably only second to CryptoPunks in terms of value return to our community.
So not only is it the values, but it's like we've actually put a lot of wealth in people's pockets since we launched in September 21.
I love that. I love that. I mean, that's that's really hitting it on both ends of the spectrum.
You're adding value, putting dollars into people's pockets while maintaining that integrity.
So, yeah, I mean, I'll just say, you know, and like this is just the start, right?
Like we plan on doing it for Bitcoin now. Right.
So everyone who has a Genesis or Karma on chain monkey and Ethereum, and that's why, you know, our price basically double or floor doubled overnight.
We'll also get that on chain monkey on, you know, Bitcoin.
So, you know, again, giving value to our community. Right.
This is a historic collection, the first 10,000 in a single inscription on Bitcoin.
We're giving those for free to anyone who's already, you know, or joining our community.
And we have more launches coming.
We've talked about Alexis Andre, who obviously is the art blocks, artists behind Friendship Bracelets.
He's creating a super cool generative art collection based off of the on chain monkey metadata or DNA that will be launching.
That will be on Bitcoin. Danny is working on a very cool but somewhat secretive collection that will also be launching on Bitcoin.
We'll be another industry first when that launches.
So, you know, I think we have a history of kind of like creating value and wealth for our community.
And we continue to do that. I mean, I think we're like just our whole DNA, the whole company is about how do we enrich our holders?
How do we create value for our community? And wealth can be financial.
It can be health. We have this awesome group of monkeys who started Monkey Misfit, where they keep each other accountable on Twitter and Discord on working out every day.
You know, people have started businesses with other monkeys.
People have done social impact. So however you want to define it, people like to go every week and play poker with each other right online.
So, you know, and they have social connectivity and, you know, social wealth is health, too.
And and so, you know, however you want to define wealth.
I mean, we've delivered a lot to our community.
And, you know, I'm just so excited about what's coming in the next few months when I look at our rate roadmap.
And we've communicated some we've communicated some of it, but there's a lot coming.
Yeah. And I'll just say too quickly, you know, I joined the community nine days after the Genesis Mint.
And then I joined the company about three or four weeks later.
And, you know, we as community members and then also on the team very early on,
we decided that we were going to be very organic, very intentional about how we market on Chain Monkey.
You know, we want to attract the best individuals.
And we understood that, you know, what we were building was valuable and that, you know, basically it'd be word of mouth and how we would build a community.
And so that's what we've done. We built a community from the ground up, you know, basically one or two monkeys at a time.
But we've managed to cultivate and curate sort of like the best minds in the space.
When people find us, they quickly understand that we are set apart.
And now that we're on Bitcoin, you know, now we're basically at a place where we recognize both as a team and a community that it's our time,
you know, to be more prominent, to be more loud about what we've built.
And, you know, I just want to thank this whole team, the Metatope team and Crypto Chris for reaching out to me,
you know, for inviting us on here, because this is the kind of thing that we love to do,
where we can, you know, basically tell our story in an organic way.
Oh, for sure. And I mean, this will definitely not be the only time we're going to be like,
we've already had between these last two spaces, a lot of awesome guests.
And we've done 36 of these things.
Like we just, we just really wanted to do, like you said, really figure out the best way to create an organic conversation.
And once we felt comfortable with like really going after it, this is just the beginning.
And I think at some point we are going to have like, it would be cool to have like Bitcoin ordinal,
like two or three projects together and really just go into some more like ordinal specific stuff down the road.
Once we have like marketplaces and a lot of cool stuff to really talk about.
And, you know, I think before I get into the next topic and stuff, I want to run over to Walker.
Thanks, bro. Yeah.
You know, everything that the on-chains monkey team just brought was very powerful.
And I really feel the determination to bring value for the holders.
And I mean, at the end of the day, that's what it's about.
Like finding like dedicated individuals and teams that are, you know, that are here for the people.
So I wanted to clarify something because I'm very interested.
So on-chain monkeys, I know they were the first, the very first, from my understanding, 10K PFP collection to be inscribed into Bitcoin.
But were they inside of the first 10,000 inscriptions?
No, we were not in the first 10,000.
So, again, like we were well on our way to inscribing as the first 10,000 were being inscribed.
But as always, you know, Danny and the team, it's not about being first for us as much as it is about doing things the right way.
So we're very excited, you know, to be among the earliest inscriptions.
We actually have inscription 2-1, sorry, 2-0-2-1-9, which is a very special number.
So Genesis was launched on Ethereum in September 2021.
And, you know, basically through the magic of on-chain monkey, we were able to secure inscription 2-0-2-1-9, which represents the month and the year.
And that's something that, you know, Danny has basically said, you know, multiple times in public that it likely won't be repeated anytime soon.
We have an incredible team as well as an incredible network of folks who are Bitcoin native that are able to make something like that happen.
And we're very, you know, excited to be able to share that historic thing with our community.
Dude, that's incredible.
And the beauty in that, right, is that these on-chain monkeys, that these assets, these digital identities, become one with Bitcoin, right?
Like, it's very different than minting a token on top of Ethereum.
Like, you are actually becoming one with a Satoshi.
And this is a conversation that we had recently, I think last week, maybe the week before, and how there's a really interesting collage here of fungibility, right?
Because you now have an on-chain monkey that is a Satoshi.
And the current infrastructure of Bitcoin cannot tell the difference between the on-chain monkey Satoshi and a regular Satoshi.
So that's why, you know, you can't send funds out of a BTC wallet that are holding these ordinals.
So, you know, we're merging into this new dawn of, like, what, you know, the Bitcoin infrastructure means.
And I think it's, you know, potentially extremely valuable, right?
Because we've seen all these businesses and this infrastructure be built around Ethereum, Solana, Fancy, you know, Cardano.
Yet Bitcoin being the mecca of decentralization has not harnessed that, right?
And so to see this DGM community, if you will, step into the Bitcoin network, I think is really exciting.
And so my last question on this topic is, how do you guys, you know, anybody on the speaker panel, how do you perceive the sustainability of this move, right?
Like, I feel like we see a lot of people from Bitcoin who are not necessarily for this.
Like, how do we feel like the sustainability is for this move?
I think it's going to stick around.
One thing that I did want to point out to the OCM fam, the monkey fam, is that right underneath me in the audience, we have coffee with a son, like kanji for the E, green PFP with a blue face.
That is actually, he's actually a Bitcoin core contributor.
So we've been considering some wordnal stuff as well.
But everyone drop him a follow.
He's actually one of the OGs for that.
He has contributed to the main code, code base for it.
And go follow him.
He would be a good resource to ask for help on pretty much anything Bitcoin related.
And yeah, absolutely.
What was his Twitter handle one more time?
It's actually Coffee Converter.
So you can, it's just at Coffee Converter.
But yeah, he's our main dev.
He did our NFT contract.
He did, like, he built in a puzzle, actually.
Like, a puzzle in the form of, like, a hidden poem throughout the contract that one of the core devs for, you know, Artifact actually ended up solving and winning, like, 1.3 ETH or something as a prize.
But anyway, yeah, he's great.
Coffee Converter.
All the OCMs follow him.
And that's about it.
I just really wanted to show him while I saw him here.
So, sorry.
Well, thank you for that.
And if they, sorry, Chris.
And then we'll move forward with the conversation.
I just wondered if anybody on the speaker panel had comments as to the sustainability of this move for Bitcoin, right?
Like, moving into these different networks, these different business models.
How do we see it evolving?
Sustainability in terms of, like, being able to create lots of NFTs on Bitcoin?
Or is that what you're asking?
So, I mean, obviously, we can create the NFTs, right?
But, like, the liquidity, the growth, the community, right?
Like, where do we, do you see this sustaining as, you know, as the Ethereum networks have in their growth?
Or do you see this being more of a fad?
Yeah, we definitely don't see it as a fad.
So, we are still building on Ethereum.
We look at our Genesis and Karma collections on Ethereum as our sort of access pass.
So, that's the utility, like, membership token that will get you basically rewards and drops and everything that our company builds.
On Bitcoin, we view that as a place for high-end generative digital art.
And there will be other, all kinds of media stored on there.
But as far as NFTs go, we look at it as a place where generative art, you know, the highest-end generative art can live.
And it is expensive to put things on Bitcoin.
So, it is prohibitive to kind of have these, like, massive, you know, just a ton of, basically, collections that maybe don't have much behind them, like we see on some of these other networks.
That won't play on Bitcoin.
And we're actually seeing it in real time where project founders on Ethereum are trying to figure out in real time how to play in Bitcoin.
And it's a very different space.
You need to understand the culture as well as the limits and constraints of the architecture of the system.
So, we're really excited, you know, to kind of be leading the way because the way in which Danny and the team inscribed our 10K collection is the way that we view it should be done on Bitcoin.
It does require an increased amount of efficiency and a lot of technical skill to be able to build on this network.
And as far as the culture of Bitcoin, it is a very different culture.
And we're really excited because, you know, Danny and our team, they're sort of born into Bitcoin.
You know, Danny founded the Bitcoin Stanford Meetup in 2013.
Our chairman, Bill Tai, you know, was using Bitcoin in 2010.
He lent the money to the first big Bitcoin mining company, Bitfury.
And so, you know, the roots that we have in Bitcoin are very, very strong.
And we're really excited to be utilizing our network and as well as the conglomerate of community members who are native to Bitcoin to help lead this way.
That's incredible.
And for anybody in the audience, you know, that may be interested, right?
Like you host a note on Bitcoin and you can inscribe ordinals.
So, you know, don't ever feel like you're so out of the loop that you can't participate because you can.
And what OnChainMonkeys has done to elevate their community and bring their project, you know, into a new meta is incredible.
And I completely agree with what you're saying.
You know, we're taking a timestamp data of extremely valuable pieces of culture and bringing those into a completely immutable network.
So, I really, really appreciate what you guys are bringing to the Ethereum community, what you're bringing to OCM.
So, yeah, baby, let's keep it rolling.
Yes, sir, man.
It doesn't just stop with Ethereum and OCM.
I mean, I think this is going to affect โ it's already affecting D-Guides and Solana.
So, that's freaking awesome.
It's bringing everybody together in its own way.
Let's run over to Jacob.
Yeah, just talking about, you know, the future of this space and what it's going to look like.
I always ask myself, you know, the underlying technology and, like, what's its use case?
And I'm a real big advocate for just spending the time to understand more about this space.
And kind of give a shout-out to something that Coffee Converter โ coffee converter โ he built the very first initial locked liquidity pool.
So, the way it was done is that this token, you know, had an initial, you know, auction round where all of the liquidity in that auction was then locked to Uniswap, allowing for a permanent price floor and liquidity to be able to trade between these tokens.
And so, innovative things of that nature that really redefine the way that we interact with finance, the way that we redefine the way that we interact with, you know, cryptography, crypto in this space, layer twos, the scalability issues.
The more big brains aiming to solve problems that exist today or even create things that we don't even know we could use today are the people that I want to be following.
Jacob, why did this turn into a let's shill coffee space?
I'm very confused about this.
Coffee's worked with Sansound and on-chain monkeys.
What's going on here?
Also, the other thing with, like, the whole locked liquidity thing, I cannot imagine a โ like, I guess a meta that's been more misused since its origin.
Like, I can only picture Coffee, like, sitting in a chair, like, some, like, super gaming-esque chair and he's just, like, shaking his head and he's like,
look how they massacred my boy for every shitcoin that, like, claims that they're locking liquidity for, like, you know, some stupid reason.
It doesn't actually matter.
It doesn't increase, like, any sort of, like, trust in the project or anything because it's just, like, a meme at this point.
So, yeah, I don't know.
We cannot shill coffee anymore, though, Jacob.
Like, that's it.
That's your limit.
Okay.
All right.
You heard that, Coffee.
I'm sorry.
I tried.
I did my best.
You know, I just invited Coffee to speak.
I figured we could just keep it rolling.
And he's on his desktop.
Otherwise, I would have invited him up earlier so I could, like, have less of a job.
What's up, OCM?
Yeah.
Hey, guys.
I really apologize.
I think me and Amanda have to jump.
Really, really appreciate you guys having us on.
We've got a couple other spaces this evening coming up.
And we hope we can see a lot of you in our Discord soon.
And hopefully we see some Genesis or Karmas on some of these amazing speakers that we have up here.
But, yeah, really grateful to have you guys on and happy to come back real soon.
Oh, for sure, man.
Thanks for coming up.
I know it's tight on time here.
So, yeah.
Amanda, go ahead.
No, I just want to say thank you so much, again, for having us on.
And hopefully we've got a little taste of a little bit of On Chain Monkey and our amazing community.
And I just kind of leave you with, you know, if you want to create wealth for yourself and your family and hopefully your friends, if you tell them about it, we are a good collection for you.
If you want to be part of history, owning one of the first, you know, 10,000 on Bitcoin, we encourage you to come in.
And we have super friendly Discord and would love to help you guys find your Forever Monkey.
There you go.
I love it.
Yeah.
So, thanks for stopping by, guys.
We'll definitely get together another time.
And also, it would be cool to connect.
Let's get Jordan, you guys, connected again from that NFT NYC.
And maybe talk about, let's see if you guys are doing LA or NYC again this year.
Yes, I will be at Outer Edge.
So, formerly NFT LA.
We'll also be at NFT NYC.
We'll also be at Miami, NFT Week, I think, which is between those two.
So, between all of those, would love to reach out if you're going to be at any of those.
And let's, like, definitely get you on our dance card to hang out with the monkeys and maybe collab on an event.
For sure.
That sounds great.
Thanks, Amanda.
Thanks, everybody else from the team that stopped up as well.
As we go forward here, I was going to ask, Sansound, you know, when it comes to, like, you know, we talk in spaces and stuff.
Do you guys feel, when you hear different chains, is that something that, does that really affect, like, a fidgetal, where you're going to house your NFTs?
Do you feel, like, the need to have something on, like, an ordinal for your company?
I mean, we talked about it right as it was coming out.
We considered doing it.
At the time, we didn't have super good availability of coffee, though, so we kind of neglected it.
And then it kind of fell out of the meta really quickly.
We still may do it later, just because I don't really believe in just, like, chasing meta.
For meta's sake, I think it's kind of, like, a waste of your time and money and resources.
But I am a big believer in, like, cross-chain, and it's a fantastic way to build brand recognition on multiple chains, right?
So we're dropping free NFTs currently on Optimism, but our main collection is on Ethereum.
I want to do something on Arbitrum.
I want to do something on BSC.
I want to do something on Polygon.
All with, like, the Saan brand, because, like, those are different customers on each one of those chains.
And, like, it doesn't have to be expensive.
It doesn't even have to be a paid thing.
But to increase awareness of the brand whenever you're actually doing a platform play and something that whenever it goes into the mainstream, whenever it's ready, like, Web2 people that use the music platform eventually aren't even going to know that crypto is involved.
And so it's really important to build that sort of, like, wide base now because there's a lot of creators, like, musicians and stuff like that, the people that we're targeting for, like, the people who we're trying to help build their businesses that aren't only on Ethereum.
They aren't only on Polygon.
They aren't only on Solana.
Actually, there's a lot of people that are only on Solana, but that's a different story.
But there's just, like, you know, you need to reach out.
You need to reach across the aisles and not stay a chain-specific maxi.
You really need to be more open and accepting and kind of, like, leaning into this whole future of, like, we're all using blockchain.
I don't really care which one you're using.
We're all using blockchain.
Like, I'm a maxi for blockchain.
I'm not really a maxi for any specific blockchain.
And I think it very much is a mistake to be that way.
So, like, Bitcoin maxis, Ethereum maxis, Solana maxis, they're all kind of missing out on the point, which is that we're not competing with each other.
What we're competing against is the traditional financial system.
And that's really the only competition that exists.
You know, all these guys coming in and telling me where to spend my money.
No, I'm just kidding.
I agree with you.
There should be people that maxis out on one chain.
And it also, that's really, it's important.
They got to, people are going to start to open their eyes a little more.
There is, like you said, some communities that do maxi hard and don't typically look at other places.
But I, you know, when I was in crypto and I really didn't mess with NFTs, I still believe that there is a ton of people that don't mess with NFTs and that are in crypto.
And this is, you know, these routes that you're talking about hitting these different chains where maybe somebody in the crypto world spends more of their time.
I think you're going to find more liquidity from them as well, not just NFT positions and like Cardano per se, right?
There's a lot of people that hold the coin that don't even know they make NFTs.
And maybe if they, when they start to see more of that pop up, they're going to widen their outreach into being like, oh, I should either get an NFT there or maybe there's, oh, this one started on Ethereum.
Well, then I should go check that out, you know, from their main collection as well.
So I think you're doing a great job on your end by broadening, like you said.
And for anybody in the space, please keep in mind that this is financial advice.
You know, we talk about it for educational purposes only.
But going forward here, I kind of want to open up to more of an open discussion with people on the stage here.
We were going to keep this one a little bit shorter than normal.
Typically, we were on that two hour, two and a half hour range.
But we'll probably start closing this down around 730 Eastern.
So about 26 minutes.
Who here got involved with the Coinbase NFT launch today?
All right.
Well, I guess that was the only one.
You're talking about the base, like the one that they launched on.
Oh, my God.
What chain is that?
I think they did Ethereum, right?
No, they did it on some sort of like side or L2, I thought.
No, that's Ethereum.
I looked at it.
Are you talking about the one to celebrate the launch of base or was this different?
Yeah.
This one was their, like their, yeah.
But it's the celebration when it's the blue circle that has a little light through it.
Yeah.
I need to go claim it still.
I need to go look it up.
I only applied for the, for the builder program.
I didn't do anything else.
Go ahead, Enzo.
So I got one as soon as you, as soon as you sent me that message, I got one.
And I think what you're talking about is optimism.
If I'm not mistaken, whoever was just asking, they did something on optimism also.
I think that's what you were going towards.
You know, and optimism is, yeah, that's true.
That's BitBoy's like one of his new favorites.
I saw that he's pumping money into his optimism.
Can you share some light on what optimism does?
Somebody here?
Well, that's, that's optimism is the one that's actually building the Coinbase chain.
Like that's, it's not another company and it's not really Coinbase either.
It's optimism.
And so like, if you're using base, if you're using it, and by the way, San fam that's in
here, this is why I've been so like bitchy about people complaining about optimism is because
I've known this news is coming for a while and I've been like, just trust me, just be
quiet.
Trust me.
But yeah, so like two things.
One, you're, I made you claim a bunch of stuff over on optimism.
So if they ever have another airdrop, guess what?
You get OP tokens.
And then number two, if, and when, you know, we get base on, and we're able to get incentives
to build on base, you know, that's also good for us.
And we can point to the existing NFTs that we've dropped on optimism.
So it's kind of a twofer, but I'm going to go claim this NFT.
So I'm going to, I'm going to be quiet for a minute cause I need to remember to do this
before I forget about it.
But yeah, no, there's a free NFT that they dropped today.
Uh, look up the news about base to be able to see where to, where to get that from.
Yeah.
Interesting enough.
I think their floor price, if it's, if it's still there was lower on the secondary than
it was to mint it.
So, uh, it's getting a little interesting out here in these streets, but yeah, I think
it's called base and comment introduced.
It looks like they're over 40, looks like on the 50 K minted range now already.
I minted around like 35 K.
Yeah.
So there's 41,611 owners, but I think, you know, it's one per wallet and I'm sure people
are scooping off the secondary pretty hard.
Um, but yeah, it was definitely rough earlier, man.
The gas, I'm glad you waited cause the gas fees were, were fluctuating pretty hard.
Uh, and it's happening off just like one of these, it's going to get crazy when we get
back into another cycle.
So it's good to stack up on these, uh, these mints now.
Um, but yeah, so there's been, you know, a little bit of craziness in this market.
We talked about blur today.
Uh, if there's anybody who wants to touch on anything that has to do with blur, feel
free.
Otherwise, you know, I, uh, I was looking at some other options out there and it looks
like there's these different marketplaces that just keep popping up and it's starting
to, it's starting to get a little interesting.
I feel like, you know, there's, there's no shot that open C.
It launches a coin.
So if they're going to become, you know, something more of an, like a company that goes public
there, I feel like at the mercy of this war, like none of this really benefits them too
much.
Um, with like, in my opinion with like blur going, going hard in the paint.
So, you know, it really, does anybody have any, like what incentivizes anybody to actually
use something other than blur right now?
Well, bro, I mean, you, you, open C just dropped their trading free to zero, right?
They're, they're messing with the creator royalties.
They are definitely taking notice of what's going on.
But as we spoke last week, the volume is, is enormously in the flavor of, of blur in the
past couple of weeks, but the unique users aren't right.
Like what they're actually pulling again, and we've spoken to multiple times is, is this
watch trading.
I mean, honestly, like we, we've seen this play out multiple times where open C holds
the, the user base and, and not that this time will be the same, but like, what is blur
offering?
What did blur have that was attracting the majority of the volume or the users would say
still don't have before the airdrop?
Just the airdrop.
Cause like magically has a better interface, like by far magically has a better interface,
better, better features.
Um, and magically is doing an airdrop as well, but then you actually had to do more to actually
claim it.
But the thing that I think a blur really messed up on and y'all have to excuse me cause I
also run an Aave, an Aave fork.
So I run a lending protocol.
It's live on like seven chains and we've been alive for a full year without a
token.
And so like this entire year, we've been building up to the fact that we're going to
be doing an airdrop, but like, we're talking about like 10% of our initial supply is going
to go into the LP and then we're doing like 1.25% of the supply as an airdrop.
And it's like blur didn't get that memo as to how those economics worked because like
they, they dropped everything and their, their price went from like $5.
Well, you can look at the, the, the graph, right?
It's like $5 into like 60 cents in like a couple of hours.
It's just insane.
And they, they, they, I think they like, they just neglected to think about how that amount
of the token being dropped all at once could actually affect the price.
So like the people who were there or like, dude, I think that just led to like this whole
like sort of avalanche effect, uh, no offense to Ava Labs, but like avalanche effect that,
that caused that initial drop in price.
And I think that just like continuing on with this narrative of continue farming on blur for
rewards, continue farming on blur for rewards.
Uh, the one thing I would say to projects is just like, make sure to check to see what
your rewards are because like ours for the, for the, uh, contract that we checked on, which
is ours, uh, for Sawn, we, we got like 10k in blur rewards for that first initial airdrop.
So just something to keep in mind is that if you, if you run a project, keep on checking.
For sure.
And I mean, what this comes down to is sustainability, right?
Like how long is this going to last and what are they building their user base on?
And, and it, it doesn't seem like this is, this is something that creates, you know, longevity
in a network or an economy.
And, and that's what we should be looking at as investors, right?
It's, it's, it's web three participants who are creating the, the economies of scale.
And man, you know, blurb's had some great features.
Don't get me wrong.
Like it's, it's, it's been a good platform.
I mean, they, they innovated in a way that caused OpenSeat, you know, to change their
models, right?
Being able to come in and, and, and, and sweep collections.
However, the entire time the user interface was negligent at best, right?
I mean, you feel like you're dealing with the backend of a system when you're on blurb.
So we all just have to, to look at the, you know, the, the feasibility of the option and
how many users are they really going to be able to onboard?
And what we've seen in this massive run-up of liquidity is that they didn't produce more
users.
They just produced more volume.
So I think that, I think that it's been shown that like 15, um, what is it?
Like 15 wallets have like the top, whatever percentage of the, of the volume.
And it's just like, it's just whales just wash trading.
And a lot of the whales are wash trading so much that they're literally taking, it's
like laddering down the prices of collections because they're, they're buying them all.
And then they're selling them at losses because they know that the blur drop is going to be
larger than whatever they're doing because they have so much of the, of the percentage
of the volume there.
And like, that's, that's like a fundamentally broken system.
And it's, it's something that most developers I think are aware of, but then I think that
they get kind of shoved around by the business side of people and they're like, oh no, this
has to be impressive.
We have to make headlines with this drop.
We have to make headlines with this drop.
And I think that it, it kind of shifts the priorities into like a search for PR rather
than a search for PMF, like product market fit.
And that's, that's exactly like what Walker was talking about, which is that like, it doesn't
really serve any sort of public good currently.
And that being said, OpenSea is just floundering.
Like they're, they're just like running around screaming at this point.
Cause like, I, I'm not sure what they're doing.
They dropped down their, their fees to 0% and then like a day later we're like, eh, you
know, 0.5%, you know, like let's go like, like half a percent now.
I get it was the shortest sort of reprieve from those fees ever.
And it's, it's kind of insane that they're, they're, they're so nervous about this game
that they're, they're willing to like still fight this fight.
And I'm not, I'm not really even sure what they're doing at this point.
They either need to drop a token or they need to like radically redo their interface.
I think, I think it's hard, right?
Cause it goes back to the discussion of sustainability.
And I think very few businesses in this market have produced economies that scale, right?
And, and so with Blur, I think OpenSea potentially, they're looking at this at like such a short
term, a short term threat that they're saying, Hey, let's, let's give the users a reason not
to go there.
Let's give them a reason to stay here and then we'll increase our fees, right?
Because the thing that OpenSea has done well is, is create a sustainable business model.
They've created very good revenue.
They have created a standardized issuance across the industry of how people purchase and sell
and list NFTs.
And who's going to compete with that?
In my opinion, long-term, it's not Blur.
I think that the, um, the meta is going to shift to individual marketplaces for projects
in which those royalties are respected.
Um, and like something that we've been, cause we already have like an origin protocol, um,
like marketplace for our own project.
We just don't use it yet.
And that combined with other methods of incentivizing volume on those, on those specific ones, I
think is going to be like the way forward.
And so we're working with another company currently to design those sort of incentives that will
like kind of make it to where the majority of volume goes through there.
Like you, you, you look at like Forgotten Runes Wizard Cult and like the people in Forgotten
Runes, they don't really trade on OpenSea and they certainly don't trade on Blur.
They trade on Forgotten.Market, which is their own market.
And the reason is, is because they can read, like they can see the lore that exists for each
one of those individual things.
And so they have like this, this unique thing that gets that sort of volume to stay where
they can actually see it, where they can control it.
And then something that they've done that's really interesting too, is that all of their
community created derivatives, which they have a ton of over in Forgotten Runes, um, they
list those too.
They put those on their market too.
And then like that sort of like inclusion of the community and the inclusion of what that
community has done, I think is incredibly important to building and maintaining community.
Cause then whenever someone asks like, okay, how do I get in?
You have the community members that are like, oh, go to Forgotten.Market.
They don't say go to Blur.
They don't say go to OpenSea.
And just, I think it's that, that incentives system that each individual project is going
to have to figure out and be like, okay, well, this is where we want to be.
This is what we want to do.
It's just that I, I'm not sure where they're going to build all of it.
And this is something where like scale could come in and really like stand up and make
people take notice.
All right.
Enzo, sorry.
I was just going to touch on your point.
Um, I'm in a project in Avax called chicken and they have their own marketplace on their
website and every drop that they do, uh, you can actually just buy on their, on their
actual website.
You just go to their marketplace and you can buy chickens, roosters, farmlands, they have
many drops.
And, uh, yeah, that like, uh, 6% of the, of the fees, uh, they, they have 6% royalties.
So 6% goes, uh, back to, to the founders.
And most of that money just gets reinvested into, into the project.
Uh, so yeah, like I, uh, I've, I've seen it more on Avax.
Uh, I came from Avax and I, uh, when I came to, uh, Ethereum, uh, everybody was on OpenSea,
which was one huge marketplace.
But on Avax, most projects have their own marketplace.
So like me coming over to Ethereum was like a new experience as like OpenSea was just kind
of like a, a, like a big mall where I could just shop for whatever collection instead of
on Avax where I had to go to in these individual projects websites.
So, uh, yeah, I, I understand what you're talking about.
Ethereum likes convenience.
I mean, there is so much to, to kind of shift through the fine projects because everyone
built on Ethereum that I think we're all used to this easy mode of having a, a centralized
location to, uh, do the shopping.
Right.
Um, and that's been, you know, for me, actually, I kind of don't mind it, you know, not having
to go all different places and go to people's specific project.
But at the same time, I can see how that can help keep, keep the community sustainable
and really, uh, help keep it essentialized.
So, I mean, there, I think there's pros and cons to both.
I mean, if you had to pick or choose, would you, you know, anybody who, would you prefer
to have an OpenSea or would you prefer to shop on a Forgotten.ruins or something?
Right.
I think it, I think that all comes down to incentivization and, and like for Forgotten.ruins, like you've got
like things that feed back into the community dial.
Their community dial is like $700,000 in it.
It's insane.
Right.
And so like dealing with things like that and having like successful community dials and,
and things that spring up around that and that actually give people ownership of, um,
oh man, I almost leaked something.
Um, anyway, just giving people ownership of, of decisions and ownership of, um, I guess
like, what was that?
Sorry, what ownership of, uh, what leak was it?
Uh, no, no, nothing.
Anyway, like a community ownership though, of like governance is really important.
Right.
And, and, and having people have a hand in exit, like in the ecosystem that they're involved
in, it like, it makes retention so much higher for all of the, the people involved.
And so like having like a governance system, having a, um, a marketplace, having a, a, a
DAO that's like community run, having projects that are community based and yet that draw off
of the original IP, like all of those things are all like additional factors into why you
would even have your own marketplace in the, in the first place.
Uh, it's just about incentivizing the usage of it and making sure that like people see
why they should use this rather than open C or rather than blur.
And it's, it's like an additional little education piece, which is something that hopefully we're
getting better at, which is like the whole education and like communication aspect.
So we'll, I hope to, uh, to be able to share more about that soon, but that's not a, that's
not a today conversation.
That's a, you PM coffee and see if he'll leak it sort of situation.
I had no worries, man.
Well, let's definitely, uh, let's definitely plan for that.
Are you going to be an NFT LA or NYC?
We'll be an NFT LA.
Um, actually my, the main founder for San leaked it last night.
So I can say it, um, and NFT LA will actually be doing a, a show on the 21st of March in
So we're very excited about that.
It's going to be like our first real event and we're throwing that with a partner.
Um, he also leaked last night, but I don't think I want to leak that specific one yet,
but, uh, there's going to be an interview going live for like big crypto.
And so that's, it's, it's going to be exciting though.
It's going to be awesome.
And there's going to be a few artists that people definitely know there.
And so I'm really, really stoked for that.
So March 21st, if you're going to be in LA, um, it would probably, it would probably like
be in your best interest to hold a song and, and, uh, probably soul bind it.
Oh, that's cool, man.
For sure.
Uh, we'll definitely connect in the backend on that.
Um, yeah.
Are you going to have a prototypes there of the headphones?
Oh yeah, yeah, yeah, yeah.
Um, I think by that point we might, we might've actually shipped some more.
Um, but the, uh, we're also going to be at ETH Denver, which is in just a few days.
Ah, Denver.
Remember?
Just kidding.
I like Denver.
ETH Denver.
Okay.
So here's the thing.
ETH Denver as an event is so much better than NFT LA.
Like it's not even close.
Yeah, I know it's a, it's a good one.
Uh, just falls in a really weird time this year for everybody that I know on my side of
the world here in Florida, but I think, uh, I think people are excited for it.
I definitely know a lot of people go and there's some Mary Jehucha mansion up there that seems
to be having a ton of parties with like some of, some of the most interesting little, uh,
what was it?
The chungos.
I, uh, I picked one of those up off the floor and then I sold it like three weeks later
and then after it pumped like six X.
So I was, you know, I'm a little butthurt about that, but as we, uh, as we close out
the space here, um, you know, I just want to give final thoughts on things.
We had some awesome conversations today with, uh, on chain monkeys that really appreciate
that community showing up in full force just shows, uh, that their leadership is giving
them, you know, what they need to stay around and, and really providing, um, providing
great content, providing great knowledge, providing great roadmap for the future of
that, that collection.
I, I, you know, I'm kind of like going away from the word project lately.
It seems like we're moving into more of collection and business.
So I'm trying to say projects more of collection or business.
And then we have sand sound, uh, some conversation with you guys.
Thank you for being here as well.
You guys are a business in my opinion, you know, it comes to digital items and, um, really
looking forward to owning a pair of those myself.
I did a little research, um, on what you guys already have going so far.
And I think, uh, very bullish on that music and this, and, uh, web three is, is one of
the forefronts of, of, um, creating different lives for people.
And we see a lot of artists entering the space and I can definitely see some, some ties that
you guys will, you know, brand new connections and stuff that will go your way in the future
here as you guys continue to build too.
So thank you again for being here.
I'll let you guys, uh, give some final thoughts for yourself here.
Anything you want to give some shout outs or, you know, where to find you, stuff like
that.
Yeah, actually, um, a lot, a lot of projects shill their own collection during this part.
I don't care.
Right.
Like, like that, that part doesn't matter to me.
What I would say is come join us tonight.
Everybody that's here, that's here.
Come join us tonight and on Twitch, twitch.tv slash son sound three.
Um, we're going to be playing music.
It's going to be a blast.
We're not going to be talking about crypto.
We're not going to be talking about NFTs.
We're not going to be talking about anything.
We're going to be vibing, listening to music and watching Crow Magnus create unique art
live while Kaku plays music.
And if you want to become part of that, if you want to suggest songs for Kaku to play,
uh, you can actually come into the discord, uh, and there's a new channel for that.
So really excited about that.
Um, if you want to look into the rest of the project, that's awesome, but more than anything,
we would just all really appreciate your company and, and your time.
That's all we really ask.
I don't, I don't care if you buy anything or not.
So come watch us on Twitch, man.
It's going to be a blast.
Always is.
Sans sound and flu and, uh, Jacob.
And, you know, thank you for a lot of the people here in the audience for hanging out.
All the OCM, uh, family as always.
We got diesel.
We had, uh, we had Johnny, we had coffee, you know, can't say his name enough.
Apparently he's got his, you know, his, he's the only dev out here that knows what he's
doing.
Cause he's working with the really good projects and pretty much, uh, two out of, you know,
that I didn't even know that we're connected in that level.
So that's so super cool for him.
Um, shout out to everyone else out here.
We have a lot of the Meditope community hanging around, obviously.
Um, a cool music guy down in the audience.
I think I said diesel DJ and moons beat.
Uh, we had a couple other guys, a couple of the board each roll through here, which was
cool.
And Fredo hanging out as always.
Um, thanks panels, uh, crypto medic, anything, uh, you want to say to anybody here?
Much love everybody.
Thanks for coming.
We'll see you again next week.
Love the conversation.
Sure.
And, uh, never, never last and never least Mr. Jordan, anything on your end?
Nothing, nothing.
Uh, thanks for coming.
We'll see you guys, uh, next week and, uh, have a great weekend, everybody.
All right.
I'll everyone have a wonderful night.
Um, happy Thursday evening.
Stay positive.
Stay optimistic.
This space is the future.
We all know that regardless of the fight out there and, and, uh, yeah, just, uh, keep the
smile up.
Keep, uh, keep doing your thing.
Love you all.
Take care.
