Hey, everyone. Before we begin, can we do a quick sound check? Cody, can you hear me?
I can hear you, my friend. How are you? I'm good. How are you this day? Doing well. Awesome.
I guess we'll wait for a few minutes for all the speakers as well as audiences to join.
And then we'll kick this one off. I guess while we are waiting for everyone to join,
I'll just start off with a short introduction as well as some news. So welcome everyone to
another episode of X-Talk. Today, we are going to talk about a lot of interesting stuff. And
while you are at it, make sure that you participate in the new Twitter thread competition that
just recently went live. The rules are very simple. You have to talk about the Lia1X ad
drop. You have to include the interact campaign link and tag Lia1X. That's it. The top five best
threads will be selected as winners. And you will be rewarded in Lia1X tokens. Cody, would you like
to give an introduction about today's topic? For sure. Thanks, everybody, for joining us today
for episode 32 of X-Talks powered by Lia1 blockchain. Thank you for being here and listening
in. My name is Cody. I'm the chief experience officer here at Lia1X blockchain. And I am
your host for today's episode. Today, I am joined by looks like we got Sam here who is one of our
community managers at Lia1X. Sam is one of my accomplices to random off-the-cuff type impromptu
discussions we usually have on Discord. We have a lot of funds. I couldn't do it without him. So
I'm happy to have him alongside me today. Along with us, we have our ex-cohost, a big shout out to
them as well. For those returning listeners to the X-Talks AMA series, welcome back to our new
listeners. The X-Talks AMA series is a free platform we've designed for both new and existing
projects across all different chains. It's a way for them to share their projects, expertise,
and vision of a United Web 3. And when I'm your host, you're pretty much guaranteed that we're
going to be going down a few rabbit holes. So get ready for today's discussion, because I feel like
it's going to be a good rabbit hole discussion. Before we introduce today's panelists, let's
pause for just one second. I think we've got everybody up. Is that correct? Can I get a
thumbs up from co-host if we do? Yeah, I think we have mostly all of them up. And while you're
waiting for that, I would like to remind people to use the comment section if you have any questions.
I would keep an eye on that, and we'll bring those questions up towards the end.
A hundred percent, yes. And then also just to remind everybody to mark their calendars for
our next episode coming up on the 25th, I think. I think that's Monday, I believe,
at 8 p.m. AWST or 12 p.m. UTC, we're talking about taking memes cross-chained. So that should be
another great discussion. For those that are just tuning in, my name is Cody. I'm the Chief Experience
Officer and your host for today's episode. So let's kind of dive in. It looks like we've got
a great panel for a discussion today, so let's get to know who we've got on our panelists today.
So if you want, just take 30 seconds, introduce yourself, and give us your 30-second elevator
pitch for your project. Anybody want to go first? Yeah, I'll go first.
Hi, I'm Michael. I'm the co-founder of Curvance. Curvance, we're building a multi-chain agnostic
reward layer and lending protocol to support productive assets, yield-bearing assets,
allowing those assets to continue to be productive while you collateralize and borrow against them.
That's the kind of bullet point. I'm also the CSO over here at Curvance, so I lead up a lot
of the strategy and growth efforts on this site. I guess I'm up next. Okay, ladies first, you can go.
Oh, good morning, GMGM, everybody. We are about 15 days out to NFT NYC. If y'all are going to be
there, hit me up. I am a recording artist with Music on Chain, as well as a content writer
for Community Labs, which is a venture studio and a reg radio creator formerly on the down.
Currently, right now, I am recording music. I have digital art out right now, and I'm creating some
more to accompany my music. But yeah, I'm excited to have a conversation about what we need to
annex from Web3 currently.
All right, awesome. Hey, guys. Morning. This is the earliest space I've actually been on
here in Jamaica, 8am, which is kind of early for us to be up on spaces in Jamaica. But anywho,
I host NFT Business Show, and I've been podcasting about the space mainly because, again,
that I'm here on the island, and I want to speak to myself about this stuff.
The best way to connect with everyone in Web3 was digitally, right? So I ended up on spaces,
what have you, ended up hosting multiple shows, interviewing people, and then
ended up being the community manager for NineVerse. And as you can see, this little project in
PFP that I have here, and we have multiple things, gaming tokens and so forth. But
I'll be at NFT NYC also. Feel free to connect with me, anyone that wants to be there or will
be there and wants to speak to me, I would love to meet you there. So, yeah.
Hi, I'm Rob. I was one of the original Shiba Inu leadership members. I'm now representing
Yuan Token, which is a cross-chain aggregator with a focus on Shiberium for obvious reasons.
And we're including analytics and sort of educational platform, and more so project
managing on Mars and Mars swap, which is Unity and Unreal Engine 5 metaverse. And then we have a
cross-chain DEX, which has a flat fee rather than stealing your funds like the likes of Uniswap
due to the tune of 0.3%. And that's as brief as it can be.
I guess I will go next. Good afternoon, everyone. Can I know I'm a ghostwriter for Web3 founders.
We want to get some of their time back to keep building the cool stuff they're working on.
And I also have a reply agency, which goes in the same line where we provide the replies
for your account, whether it's a business or personal account. So once again,
you can go and build the cool stuff you want to build instead of being on Twitter.
Love it. Love it. Love it. Love it. Do you guys mind if I go next?
GM, GM, GM. It's a pleasure to be on top of this space together with all of you guys.
My name is Jonathan. I'm a head of community for OBS World. Personally,
been in crypto since about 2017. And right now we're building the metaverse
for car enthusiasts where people will be able to experience, interact and connect
in a lot of exciting ways. I'm not going to shill too much,
but super excited to be here. And yeah, thanks for having us out.
Hi everyone. My name is Robert. I am the chief strategy officer of Be True,
which today on CMC is the 12th largest crypto exchange by spot trading. It's normally between
8 and 14 on any given day. Most of the team are based out Singapore. I'm based in Europe.
I'm looking forward to discussing this topic, both from a user experience point of view,
but then also in terms of the role that exchanges can play and what exchanges
are looking for from projects and how things can move forward.
Hey Kel, do you want to go?
Yeah, sorry. It's GM GM guys. Sorry. I'm a couple minutes late. I'm getting ready for GDC.
Of course, all the last minute things tend to come up and I'm all over the place this morning,
but super happy to be here. I always love layer one spaces. Excited to talk about what
needs to be pro. I'm curious to see what everybody thinks. I hope everybody doesn't say mean coins
because I kind of love them, but I know that they aren't great for this space. So I'm sure
we're going to have lots of interesting debates today and I'm just really excited to be here.
Thanks for having me. And I think the last one is Rob.
Hey, could you not hear me before?
There's two Robs. That's annoying. And we're both British, so that's funny.
So I think I just did a shout out a minute ago, but if you didn't hear it, if you didn't catch it.
So my name is Rob. I'm the two strategy officer for Be True, which is centralized exchange. It's
one of the biggest by trade volume in the world, typically between eighth and twelfth. I've seen
its highest four recent months and really keen to get into the debate about the user experience
side and then also what CXs can do to help further things and try and cut away some of the BS.
Well, I'll say again, just in case you couldn't hear me before,
it's funny, Michael said about mean tokens. So I was one of the original Shiba Inu leadership team.
I'm now at Yuan token, which is a cross chain aggregator with a focal point on Shiberium and
bringing volume and TVL into that chain. I'm also project manager, Marswap and Kroll on Mars,
which is a metaverse. There's a lot of alpha there that I'll not be allowed to give. But we
also have a DEX, which charges a flat fee rather than 0.3%. So if you want to buy $100 or $1 million,
we'll charge you between 20 to 50 cents on each transaction, regardless of the size of that
transaction. That's amazing. Thanks, Rob. I appreciate it. You got to love Twitter. They're
probably discriminating because of your guys's name being the same, I guess. I don't know.
Who knows with Twitter half the time, but thanks for everybody for joining us.
Looks like we got a new one that just joined us, Arena. Arena, do you want to go?
Oh, hello. Hello, guys. I was a bit late because, you know, I was supposed to be a backup speaker,
but yeah, I'm here. Yeah, this is Fatih from Arena Games Platform and we are a platform
of mobile games looking to go into PC games too. And we bridge web two games into web three
and we make it really seamless for web two games to be integrated into web three. So yeah,
if you're a game and you want to be on web three, Arena Games is your stop. Also, it is a platform
for gamers too. You get to experience a lot of games on our platform. So if you're a gamer,
I would invite you to Arena Games Platform. Other than that, was there a question I should have
answered? Because I can definitely answer what needs to be purged from web three, but I'm a bit
afraid because, you know, one of the speakers asked not to save meme coins, but yeah, I can
definitely answer. No, no, you're good. We're just doing 30 second elevator pitches for right
now. So you're definitely good to go. Thanks, everybody, for joining us. Looks like we've
definitely got a great panel set up for today's discussion. So before I forget, please be sure to
retweet this space because it's gearing up to be a good one. Also, please give our panelists a
follow. I know that they're spending their time, especially Tropic being 8am in Jamaica. I'd
probably sleep on the beach somewhere. So we thank you for your sacrifice for being here so
early. So please, please, please give our panelists a follow. So with that, let's just kind
of dive in today's topic and what needs to be purged from web three. And as we kind of think
about this, there's a lot of different angles as Michael kind of talked about, we can come from
personal angles, professional angles, as well as kind of a project angle as well. Some of the
things that I've found is that when I talk to somebody outside my little crypto bubble about
this whole decentralized revolutionary thing, you know, I usually get some excitement a little bit.
But most likely, I get a lot of eye rolling. And maybe even a laugh, right. And so with that being
said, we all know that web three comes with some baggage, scams, jargon, you know, promises that
seem too good to be true. We all know it's there. And today, we're not shying away from talking about
the elephant in the web three room. And what exactly do we need to get rid of in terms of
ideas, habits, attitudes, if we're ever going to build a united web three future that we keep
talking about. And so just to set the tone for the room, and just for the record, this episode
isn't about trash talking people projects or anything like that. This is a safe space.
We're kind of more just talking about the house cleaning items that need to take place.
And so with that, I'll jump into my first question. Is the biggest obstacle in web three
success, the fact that we the community are the problem? Are our flaws and bias
mirrored in various systems that we're trying to build?
Who wants to take the first stab? Yes, because we are so desperate to have a hundred million dollar
project because that's what's deemed as successful. When in actual fact, if you ran your own business
in real life, if you had a one million dollar turnover, you would be considered a successful
business person. So we're so desperate to get to these big numbers to have this recognition
that we're making mistakes with doing naughty things. I mean, Rob down there is from an exchange.
How many listings do you see where the volume all of a sudden goes up because they're setting
off by bots by doing 49% slippage and such? We're so desperate to achieve what we are told is that
is what determines success in DeFi. You need to have a mean coin that hits 100 million dollars
that we're making the space trash and we're paying influences over the amount. We're paying
exchanges. Sorry, Rob, but we're paying exchanges far too much to list a token to market a token
because we're so desperate to achieve this supposed success.
Yeah, I definitely agree with that. I think that it's also a systemic issue from the bigger money
in the industry, from venture capital especially. You see this a lot, not so much with the bigger
name funds, but smaller funds kind of following the crowd, if you will. We experienced that early
in raising and I always talk about it, but it's like a misalignment of incentives where
the goal isn't to build things that push the industry forward. The goal is to build a playbook
that the VC can make money for their LPs. At the end of the day, those are the things that
typically get the best funding. You don't actually see wild innovation like we should
with the amount of funding that we have in this industry, which we have a lot
and the valuations are insane, so there's a good opportunity there.
But it's just difficult. It's difficult to innovate. It's difficult to push
industry forward and solve real problems that plague all of us. Whether it's in the NFT space
or DeFi or meme coins or anything, there's a lack of innovation. It's a misalignment of incentives.
Ironically, meme coins are giving rise to a new wave of creation. I myself
did incredibly well from ship and being in the original leadership team. You can have a guess,
but now I'm building projects with utility that at least are attempting to push the boundaries.
It's not just a metaverse that you walk around and play a game. It has a purpose. Meme coins,
again, I'll say ironically, and I know people get hurt by meme coins and the entire culture
surrounding it, but meme coins are funding new wave of projects that are building genuinely.
It's pretty funny that everyone knocks the meme coin thing because originally I didn't understand
meme coins myself either when I came into the space really as an NFT collector. Then I made my
way backwards into the various tokens and then I ended up into the actual meme coins and all that
stuff as things were going and it was really like the community of things. It's funny because I
landed in this where now I dabble in all three worlds and I see the culture that's in there,
but it's funny that you representing ship because a kitty you do, the same artist that made the
ship was the one who made the kitty. I thought that was just a cool connection. The thing that
we always say is the memes with utility, once people get wrecked after hopping around,
then they're going to stick in those communities and those are the ones that are going to build
out. People knock, shave, doge, and all those other ones, but if you really look
at underneath the layer, those are a very loyal group of people. Actually, I don't think
it's a negative thing that they were able to build because they stick around and they
show up for each other. It's a misunderstanding of the space because even I just did not get meme
coins at all until really the last six months or so. Then I was like, oh, okay, I see what's going
on here. It's just very interesting. Honestly, I wouldn't flush that out and it's not just
because I'm associated with a project that's in the space with the meme coins, but honestly,
I never really pushed meme coins, but I think they have their place too.
Point. They definitely have their place and I think a lot of the people that are here for
meme coins wouldn't even be participating in crypto if it wasn't for meme coins. This is
just a completely different audience that we probably wouldn't be touching. It's purely speculative.
They don't care about utility. They care about making the bag. I think if all of us think
back about when we first got into Web 3, one of the first things that attracted me to the space
was that it was hopping. It felt like there was a lot of people coming in. It was a new emerging
technology that was going to be financially incentivized to help build out. That's the way
every new technology works. It takes funding to support it. It's not a unique to Web 3
problem. I don't think VCs and Web 2 are out there supporting businesses that are super innovative
but won't make money. That's definitely their mandate. They have to fulfill that mandate.
We should be grateful to have the VC money that we have and then we need to find other sources
to fund the fun, playful things. I think we do have that because there's a lot of meme
coiners and early DJs, Zeneca, Beanie, not to even bring up his name. Whatever you think
about him. There are a lot of people that are investing in these more speculative
technologies and ideas that are the OGs from the space. I think you just have to
accept what is from where is and just stay on my path towards what I'm building and try not to
get distracted by the noise. There's a place for everyone here. I think being inclusive is part
of the ethos of Web 3. I'm going to make a quick point. I do believe I see all the tweets and
stuff about, oh, we're so back. We're so back. One of the things that we definitely need to be purging
from Web 3 right now is I love meme coin season this weekend. I probably got maybe three hours
of sleep because I was so excited to see, oh my goodness, this is great. There still is a lack
of education. While we're building these projects, while we're in these Discord channels, while we're
in these Telegram groups, I still feel like there's a missing layer of the Y factor.
Get your money, get your bag, whatever. After that, you definitely want to pour back into the community
or build out your own brand or take profits because I'm all for taking profits. Nobody's
going to shame me into that. I do believe that there's an extra layer that I just feel like
there should be a little bit more of the communication and teaching within the community
about the Y because sometimes I feel like when we're in these communities and when we're
making different calls and building certain things and buying into or aping into certain projects,
I feel like some people just don't understand the Y or some people just lack the knowledge
and not because they don't want to know, it's just that they're just going with the flow
of traffic, if you will. I feel like there's a place for a little bit more education within
our communities, which I believe adds extra health when we're building out the community that we're
in after we pump a coin and take profits and move on to the next. Carry on, carry on.
Well, we are the problem because what are the media reporting? I don't mean the likes of
Crypto Basic where you say, here's $200, I've written an article, can you publish it? I mean
the genuine media reporting on crypto and everything that's going on, they don't give them about
layer 1X at the moment. They don't care about Bit Sensor, Quantum, all these amazing projects.
They care about a picture of a dog or a picture of a cat that went to 100 million
and it's bringing people into the space because they think they can make bags.
So maybe we need to start changing that as you're alluding to there with the media. Maybe we need to
start paying the likes of Crypto Basic rather than allowing the mean tokens to dominate that
small corrupt space of media and web free. Yeah, Rob, I would say that that is a great
kind of like transition into what I wanted to say, which is how do you actually change
the media perspective? And in my mind, it's about how you launch these projects and how you attract
new people into these projects. There's a right way to do a meme coin launch and there's a very
wrong way to do a meme coin launch. We saw this last cycle too towards the mania side of things,
both on NFTs and also just random token drops where you have a new Twitter account come out
and drop an address and everybody apes millions of dollars into it with no regard for anything.
And then that money either actually gets a token minted and somebody gets paid or
in the more likely case, it just gets rugged. That's a huge problem for the entire industry,
right? And this is the same issue we faced 2017, the ICO boom. It was just a cash grab
right at the end of the day. So I think the way that you change media perspective
is you purge the people and you do not participate in the ones who are not doing a fair,
proper launch and are just doing this kind of fly by night, give me money. I'm going to
deploy a script and put a ticker on something. But how many launches are done corrupt as well?
When you look at ship, I can tell you with all certainty that ship was an experiment,
but when you look at CAT tokens and such that are being launched,
the team are apron into 40% of the supply and they're justifying it by saying,
we need to hold the floor. Then do you do buybacks and use the community funds to pump the chart to
allow certain people to sell because they know when to time it. There's so much wrong with the
space and I mean tokens is a part of that. But if mean tokens can be run correctly,
rather than the same devs launching through multiple alts and trying to get what was Paulie's
one lately was that 50% of supply he managed to get. I mean, the blockchain doesn't lie.
So there's plenty of tokens out there that are launching corruptly and then they're paying
the corrupt media for articles. So it just keeps going around in circles. And until projects like
layer one X really start pushing through and the likes of us start demanding that these guys
are at the forefront and these guys are in the media as well as other projects in the space.
We're just stuck in this routine of we want people from web to come in and buy this token,
you'll make lots of money. But then ultimately the only people making the real money are the
ones that are launching it corruptly. Oh, for sure. I agree with both you and Michael's comment.
It definitely sounds like the underlining theme here is that there needs to be new standards
to basically find, prevent those we'll call them bad actors, I guess, in the space from
from being able to keep repeating over and over and over the old repeat rinse kind of cycle that
we're definitely on. So definitely agree with you on there. We have a new speaker to the panel just
wanted to give them a chance to introduce themselves. So fluids, do you want to just tell
us a little bit about yourself and maybe weigh in on this conversation as well?
Definitely. Good afternoon, everyone. This is today speaking from Flus Flus in Arabic,
it means money. And we are launching a hybrid exchange for Lebanon, Iraq, and a few other
Arab countries. I was enjoying the conversations and listening to everyone. Mainly, we are all
agreeing on the fact that the technology is fine. It works good. I think it's the people who
misbehave. And if we want to purchase something, I think from Web3, it's the bad actors. But
unfortunately, they exist in every industry. What I like about bad actors in crypto is you
can point them out really quick. Thanks, of course, to the transparency of blockchain and
able to pinpoint developers and their contracts and the wallets that they use.
We launched token as well. And we thought, yeah, we're gonna get loads of money and
we're gonna build this awesome thing. And it turned out to be totally opposite because
as many of the speakers were pointing out that today, I think the average crypto user is not coming
for financial inclusion. They're not coming for changing the world. They're not coming for
helping their communities out. They're coming for personal gains. And I think what we're seeing
now with the meme calling frenzy is a big casino. And there is someone who usually wins in a casino.
So yes, it's bringing liquidity. It's bringing money in. But I don't think this is sustainable
for a long time. And at the end, it's projects like us and like many others who will get slightly
burned. But yeah, for us and for me personally, I joined crypto and the Bitcoin bandwagon
in the early days, but we did it because we used it. We wanted, we have a need for it.
And if it's not there, things can go really, really wrong and really, really bad. So
when I started, I'm one of the first miners in the Netherlands, one of the first Bitcoin miners here.
And most of the discussions that we have back in the 2012, 2013, were more about this vision of
everyone having a Bitcoin wallet and the numbers around the world that are unbanked. And we don't
hear these things anymore. Now it's more of this meme coin, Pepe and this frog and this rabbit and
this cat. It's nice. We're enjoying it. I like it. But is it the right way to bring people in?
Yeah, honestly, I doubt it. But Pepe launched multiple times before the one we all know
was a success. He stuck $40,000 into a buyback to do buybacks. So again, it's just corrupt.
And they managed to buy back their way to that market cap. I'd love to jump in here. I think
Flus and some other speakers made some very good points as well. I think in general, meme coins
itself is not a huge problem. Personally, I've been in crypto since 2017. If people
want to do something creative and ultimately they managed to build a community around that,
I think that goes to show something. However, on the other hand, I think we're dealing a lot
with ethics here, because once we talk about blockchain and cryptocurrency, for me very much
probably as with Flus, it's a technology which has a lot of potential, a lot of utility cases
very similarly in our project. And most definitely with certain projects or with certain meme coins,
it is most definitely possible to become quite wealthy literally overnight.
Is that going to be the biggest bag that you can ultimately ever make in your life?
I doubt it. I think that ultimately those projects, they can be good. You will make some profit.
As was said, the nice thing is to reinvest it back into the market, but then the project
already died out. So it's kind of with a predetermined agenda, I guess. Personally,
I've been exposed to a lot of different projects I've made, some money in crypto. I've definitely
lost over the few years quite some, but this as well gives way to education. And I think that
we're talking quite the surface level here, but I think that there are a lot bigger issues
that need to be purged from web3, such as scalability issues, complexity, and user
efficiency for them to be able to use these products. Because even though crypto has been
around now for quite some years, I wholeheartedly believe that we are still quite early. And we are
only at the verge of seeing all of the utilities and what will be made possible once bigger
organizations or even governments are also going to be adapting the regulations, maybe allowing
in general for crypto and blockchain technology to be used in certain countries. I think
once we see bigger things moving, the whole markets and everyone involved will most definitely
as well change their mindset because making a quick money grab can be done in web2, can be done in
web3, can be done in pretty much any market. But building a sustainable business which is going to
last, which you have valuable partnerships with other sector leaders, I think that's what's
going to be a big game changer. 100%, 100%. Thanks for that comment. I appreciate that.
You know, it's interesting as we kind of take a step back and look at these things is to,
you know, all the things that we can definitely find wrong. So this is a good segue into my next
question, but I want to pause here real quick. And for those that are just tuning in, my name
is Cody. I'm the Chief Experience Officer at Layer1X and today's host. We have some pretty amazing
projects and innovators in the space joining us as panelists to share their insights and
tips and knowledge of the future and vision of web3. And it's been a great discussion so far. So
thank you for joining us. Likewise, if you have any questions for our panelists, please be sure
to drop those comments. Drop them in the comment thread. And Sam or I will present those towards
the end of this episode. So, you know, kind of leading into what Rob and Michael and OBS were
kind of talking about with ethics and, you know, changing the underlining tone of what needs to
happen there. It's interesting because with my family, we always have a role like when we're
trying to decide as a family where to go out to eat for dinner. We don't allow people to say,
no, I don't want to go there. If they do, they have to end up responding with some other
suggestion on, you know, for the group, right? And so kind of using that theme leading into our
second question here, I'm a firm believer that cynicism is very easy in web3 and innovation
and creation is very courageous. It's interesting to see as you start trying to find and build these
new standards of solutions that will help raise the bar in terms of development,
processes, flow, usability, things like that, that people are very quick to critique and to
criticize you for what you're doing. So my question to you is, if you could remove one thing
from web3, purge it from web3, what would that be? And what would you replace it with? Or how would
you improve or contribute to web3 to make it a shared idea across everybody?
I have one. I think removing complexity is obviously a really, you know, critical component
of it. I mean, I think the, you know, I've sat down on so many talks about web3
and they just go down rabbit holes. And you're thinking, yeah, this is why this particular
project or aspect of web3 is not going to go anywhere is because, you know, if you've got
to spend a week, a day, two days just getting used to it, to understand it, it's not going to happen.
Because, you know, if you really want to take on the big boys, you know, Amazon, Google and Co,
you have to make it really seamless and the user experience really, really easy to both achieve and
to actually, you know, interact with. So that's one thing that we definitely need to purge
if we want web3 to really, you know, move forward and for people to understand it more.
And there's very clearly a need for the front end of web3 to have a home, a Google-esque,
if you will. I know that Flair Network have looked at things like this and there are other
projects that are doing it, but there sort of needs to be unification between
behind one project where people can explore web3 in a way that obviously protects their data and
privacy, et cetera, but enables them to find what they want. There needs to be that starting block.
Because if not, what you've got is very disparate areas, retail, gaming,
money, marketing, you know, you can keep going on how web3 health, you know, it just goes on
and on and on. So there's a need to do that to remove that complexity. And then to the other
Rob's point about centralized exchanges. Yeah, centralized exchanges are both part of the
solution and part of the problem. I think for exchanges, it's a, you know, it's a double-edged
sword. On one side, you've got the fact that, you know, people pay to list. And I guess the
ability to pay to list is a prerequisite to go, well, actually, is there anything in this project
or not? You know, do you have a, you know, is it just someone in their bedroom? It's like, hey,
I've got X amount. Would you now list me? And some exchanges will say, yeah, of course we will.
And others will say, no. And I think, you know, it's incumbent upon CEXs to really look at a
project properly, both in terms of futility, in terms of technology, the team that it has,
the quality of that team, and then go, yeah, okay, this is something that we should put on the
exchange. Now, that isn't a perfect approach. And there's definitely a lot of improvement that could
happen with BTRU and elsewhere. So yeah, I think that those are two things that I would say.
Well, just on that, so Rob, so like, we're not allowed to shit talk about
anyone specific. So I'll not say L bank and MEXC. If you've got $20,000, you can get listed on there,
no problem. And if you've got a friend, then you'll probably get it for $10,000. And there
are exchanges out there that really don't care whether you're building, whether you're an alt,
they don't care. So it's not, you know, I'm not, I'm not casting doubt on your exchange. And
obviously, the likes of Binance, you like to think that they do their due diligence,
but there are plenty out there who are just taking the piss out of the entire space.
Rob, you're absolutely not wrong, that there are plenty that take the piss. And I guess equally,
you know, sometimes you can look at a project and go, yeah, there's a really good team,
really good technology, and it lists and it absolutely bombs. And then you can look at some
projects and you go, okay, there's probably not enough here. And they end up listing and it goes
through the roof. So it's very difficult to determine how successful a project is going to
be when it first lists. And obviously, from an exchange's point of view, so picking on B true
for a moment, you know, B true has got 10 million users around the world. It's very strong
in Europe, it's very strong in Asia. And so if you're an American based project, and you want
to have that interaction with Asia, or if you're African, or wherever else,
you're going to look at certain exchanges. Now, you're right, you know, there are, there are
too many exchanges, that's one problem. You know, there are just too many, there's 550
recognized exchanges and, and recognized as an inverted commerce. So, you know, it isn't
right. And I, Rob, sorry to go on, but I think the last thing I would say is that
eventually regulators are going to very clearly catch up with the CXs who have marketed projects
and tokens that just frankly have no utility, never went anywhere and someone somewhere else
profited from that listing. And the people that actually bought it, you know, saw no upside
whatsoever. I think another symptom of that is the market makers themselves. Like you have
some teams who maybe don't understand like traditional financial terminology, and they
get these contracts from different market makers and the standard contracts are fairly predatory.
They're all negotiable, by the way. So any founders in here that are going to negotiate
market maker contracts, always negotiate them. If you don't know how, find somebody who knows how.
But that's a problem. And then also projects that go to exchanges without market makers,
oftentimes the exchanges themselves will run the books. And they do that in favor of themselves,
right? Because it's not an agreement between you and that market maker to, you know,
reach a certain goal and generate profit for both parties. It just becomes a one-sided trade.
So I think that that's another problem on the, more so on the founder side,
which is negotiating good contracts and understanding the market making game.
And going back to the original point, when you're talking about like mentality and like
people being very critical and what have you. That's one of the things that I noticed very
quickly when I came in, even though everyone was screaming, wag me, right? Like that was like the
thing last cycle, especially during the NFT communities, not so much during, not so much
the token people, but like, or not the token, the coin people, the traders that were there a
long time, but the NFT people really came in with the whole wag me mentality. But at the same time,
you could see that they were the most critical. They were the most insecure. They were using an
analogy from, you know, some people get this, but crabs in a barrel, like you put certain crabs in
a bucket, they'll pull each other down rather than climbing up on each other. Like they're
screaming wag me. Yes. But at the same time, they're pulling each other down off the wall.
So none of the crabs get out of the bucket. And that was a lot was what was happening. And in many
ways, it still is. And I noticed that especially with insecure devs and insecure people that are
building things, rather than saying, all right, you know what, we can tweak that and make it better,
then they'll look at the other team and just be like, Oh, everything they're building is terrible.
It's like, really, is everything they're building terrible? When it's pretty much open source,
you're all basically starting from the same foundation in many of the cases, right?
So how is it that everything they're building is absolutely terrible? And I think the whole
crabs in about a barrel mentality is not really just a web three problem, but it seeps into web
three, but a mass itself as like competition, we're saying, Oh, we're in this thing to make
money. We're, we're in this to make the world better. And we say all these like buzzwords on
the outside. But if you really look back and step back and say, all right, this is just insecurity
and just bad mentality. And I think that's a problem that we have in the space that right,
it's easy to say this stuff, right? We come up on space. And a lot of us, we spend enough time
in spaces, we get kind of articulate, we know how to express ourselves and say the right things,
get a few movies and so forth. But at the same time, if you really look between or listen
between the lines and see what's being said, it's like darts are being thrown and all they're doing
is being critical. And I think that is the issue. And it's kind of like brought up in the question in
itself. And I think, you know, many times rather than just saying this is a zero sum game that
like everyone has to be out there for themselves. And I'm a very competitive person. I played
football. I mean, you want to get me going? It's like, yes, put me against somebody and it's
fun. But right, like it could just be fun. And sometimes the most fun in life is when I come
in at a very close second, as much as I hate losing, the part of the competition was fun.
But anyways, like the mentality of the space, I think needs to change. That's something that
needs to be flushed out and washed out. It's a human problem. So I don't really see where it's
going to be. Just knowing though, that not every team, every thing or every group that's saying,
oh, we're collaborating and working together. I mean, false expectations are set in the space
because if you believe the narrative that everyone's going to make it and we're all going to
hold hands and be happy, I think you're setting yourself up for heartbreak. So I just want to
put that out there that not everybody thinks that way. Most people have a craft and a barrel
mentality, unfortunately, as it is. Love what you said there, man. I think as well,
this is something that we're going to automatically see as we see different kinds
of economic models popping up within different kinds of projects.
Very similarly, I personally like to use the term skill to earn quite a lot.
This is a term which we are using basically within our project itself because
when we talk about all making it or happy hands or whatever, I think ultimately the
biggest point is still for people to enjoy what they're doing, right? Whether you're working
a Web 2 job or a Web 3 job, in the end, it doesn't really matter. The big thing which obviously the
Internet and especially Web 3 is giving us and a lot of other people all over the world
is the fact that they can work from anywhere and still make a decent living, right? But you
should still love that job or you should still be in some case involved, right? Similarly, as
Tropic just mentioned, the football games that he was attending in. And so why does that link
to OBS world skill to earn? Well, if you're the fastest racer, obviously you're a more skilled
driver for which you should be attributed. However, what's amazing is that we can use
blockchain nowadays to open up the world, to allow anybody from anywhere in the world to come in
and start competing, whether that's a complete amateur or that's a professional just trying
to lay new connections. If they aspire to become something or somebody, they'll get those
opportunities, I think. No, I 100% agree with you on that one. It's interesting being a UI UX
designer by trade for over two decades working in Web 2 space and things like that. I got my
start in 2017 as an investor and it was amazing then versus six, seven years later,
the UI experience, UX experience has not changed. And I'm glad to see that a lot of people are
projects that I've talked to are focused on a good UI, UX experience, removing the complexity of it.
And I think that that is definitely going to be one barrier that we're going to have to overcome
is that. Likewise, I agree with each and every single one of you when it comes to raising the
bar, raising the standard of things. And that's a conversation, I guess, a debate that we've had
internally here at Layer 1X. Being a blockchain, we definitely want to raise that bar of
developmental standards for projects that build on Layer 1X, but also keep it decentralized.
And so we've been looking for ways to basically systematically raise that in a way that we can
start attracting these bad developers that just keep, like I said, build it once, repeat,
rinse and repeat type of thing. And those are the challenges that I think that we're facing
from a Layer 1 standpoint, as well as trying to build in all of this new innovation. Because as
we build out these new innovations, such as X-talk, our interoperability, cross-chain technology,
our digital identity, things like that, with new toys come new opportunities to
keep the old trends going of greed and corruption and praying on the newbies that are coming into
crypto. And so I think it's a hard balance between decentralization and trying to set
that new standard. And that's what we're coming at from our angle. We've got a lot of great new
questions from our community. I want to turn some time over to get some of those answers
by our panelists. There's some good questions out there. So Sam, did you pick a couple that
you wanted to bring to the panel? Yeah, for sure. Looks like we do have a lot of questions,
but I'm also aware of everyone's time. So we'll go through them. I guess the first one is for
Jen. The question goes like this. For music NFTs, does anyone know if there are any portable
products that will support Web3 Music playback that we are used to having with Web2 apps and services?
Yeah, I believe I answered that in the thread, but I use right now SonuStream. It's easier,
but they're now in public beta, so there's still a lot of testing going on. If you collect on sound,
you can play. They have a web player as well as audience, but trust and believe the kinks for
playing Web2 and Web3 Music collectively, we're still brainstorming that.
Yeah, thank you, Jen. I guess the next question is around the topic that we discussed quite a bit,
and it was around the scammers and scam. So feel free if you guys want to answer this.
Can we purge scam and scammers from the world of Web3? It's one of the major reasons why adoption
is very slow. I mean, security is one of the biggest promises of Web3, so when and how.
This question is from Furkan, one of our very own. Who would like to go first?
If I may, looks like a hand is up, but I don't know if you want to answer the question because
I was going to answer it too, but if you want to go, since your hand is up, what is it? Caloni?
Calano. Calano, my fault, my fault. Yeah, all right. Thank you. I'll take these ones first then.
So I think the sad part is that while we have complete autonomy on our funds with decentralized
wallets and all that good stuff, it also means that we rely on our own due diligence to stay
secured. And unfortunately, most people have no diligence. And for example, most of you have seen
this meme coin coming out from DecaRente, the small meme coin. It's launching like pretty much right now.
And I was just going through the comments of the DecaRente's post from yesterday,
when he said the pre-sale was closed and there are a bunch of fake accounts trying to impersonate
this main account of DecaRente. And they all say, oh, the pre-sale has been extended,
send wallets, send salt to this address. And then what they do is they will pay for some
engagement on those replies. So they will get, you know, one or two thousand likes on that specific
reply. And I checked those wallets just out of curiosity. And there are also some fake accounts
posting links to say that the meme coin is trading. You can go on this, obviously, fake
account and check it out, blah, blah, blah. But funny enough, I was checking the two of the
many accounts that I saw yesterday. And they had a combined 260 sold sent to those fake accounts,
which is roughly about $54,000 at the time where I took the screenshot. So I think
the problem we have right now is that while yes, you know, self custody and all that stuff is
great. And in theory, you can be safer than the bank if the bank rugs and goes down or all that
stuff. But the problem is that people don't do their due diligence. And when you see stuff like
that, obviously, that's pretty sad. I mean, that's $50,000 that will never come back to anyone's
hands except this camera. And also, I think the big issue is that most people don't have the
basic the basic tools to protect themselves. So for example, wallet guard, pretty pretty well known,
I guess, wallet checker, simple security, it just gives you a quick overview. Hey, is this website
likely to drain you? And most people don't use it. Because I don't know. That's a good question,
because maybe they're just too lazy or don't even know about it. Maybe there is not enough
information on how to keep your wallet safe and all that stuff. But I think the problem we have is
that self custody has a degree of education that's needed, that 99% of the people in crypto
do not have. And when you know presale is ending in 30 minutes, you get max FOMO. By the time you do
some vague research, the presale is closed, right. So I think that's one of the big problems we
have. And unfortunately, it is so simple to drain people, you don't even need to drain them,
you can just pretend to be another account. There is a fake Jared from subway account that
came out yesterday. And that rugged another, I'm not sure exactly the amount. I've seen a post
from Zach XBT talking about it. And it was effectively maybe 400 souls or 500 souls,
I'm not sure. So you don't even need, we're not even talking about security, we're talking about
common sense. And that is the biggest downfall of most people, I think, even more than scam
from a compromised link and stuff. And I just say really quick that cash has not
solved this problem either. The number one channel for scamming is cash.
Flouis, you had your hand up.
Yes, I wanted to as well add to Kehlano that today the technology is way better than what we had,
I think, three or four years ago, even with account abstractions and what the each standard
4337, if I'm not mistaken, which focuses on account abstractions and taking out all these
difficult tasks to maintain your seed phrases and maintain basically the private keys.
I don't think we should take it on ourselves to educate users, but more of bring a product out
that educates the user without him knowing. And that's why personally, and at Flouis, we're
very focused on how to bring the best of both worlds, the centralized world and the decentralized
world. And I think account abstractions is just one step forward for us to bring a better web3
experience because in such standards, you're able to basically prevent malicious links from
being listed in your wallet, again, with the private key management and so on. So yeah,
I would say stay positive. There is hope. It's just us that we need to put the work on it.
And yes, cash as well has its scams. I don't want to talk about credit cards and the fraud that
happens there. This is not just a web3 issue. This is an issue of day to day life where we
meet with people and they don't have the, I mean, even for us, I don't want to say like
some people are stupid, but even for me personally, I truly connect with the Kelano on sometimes in
the last few seconds you form and you make mistakes with deepfakes AI. I have lots of
stories to share on how communities people try to defraud us day by day. And AI and the deepfake
things that happen with listing exchanges and this is just another total story. But again,
the technology is improving and I'm pretty positive that perhaps in a few years from now,
we won't be discussing the scams and the rock pools as much as we are now.
100%. 100%. Thanks for sharing your insight on that one. We're just getting close to our time.
I want to be mindful for our panelists because I know that some of them need to drop off for other
meetings and AMAs. I definitely want to thank them for being here. I do have one last question
before I ask it. We are, I am and my team are going to stay a few minutes after to answer
a lot of the community questions. It's an open invite for any of our panelists that want to
stick around and have the time to. We'd love to keep you on for just a few minutes extra so that
we can get our listeners questions answered. I think it's great when they propose some questions
for our panelists so we definitely want to foster this type of environment and take the time to
answer them. My last question for our panelists today is we spent a lot of time talking and
exploring about the things we should purge, the challenges and the greatest opportunities
for us to build a United Web 3. What is one actionable thing every listener can do this week
to be part of a positive change? While you're talking, if you want to give just a quick
outro of how people can keep in contact with you or any major event that's coming up,
now's your time to shine. Who wants to go first?
I'll go on this one super quick. I just want to remind everyone in crypto that we are
used to seeing a 2x in 24 hours or even a 10x or a 100x and while it's possible,
I'm not saying it's not possible, we've obviously seen it many many times but it's just a good
reminder that the S&P 500 bros take 8% a year and feel accomplished and we are funding if we
don't get a 3x in basically five minutes. So I just want to remind everyone that taking profits
and being pretty happy with a 20% is a good way to play safe and if you make 20% here and there
multiple times a week or even a month, you will be fine at the end of the day. It is a long race
and if you are 20, if you are 30, you will retire in 20 to 30 years from now. So you don't need to
make gen wealth in the next week and making gen wealth in the next five years is also very good
for most people. That's it. And yeah, just to keep in touch with me, I mean follow me on Twitter
and yeah, that's the best place to find me.
I'll go. To Kehlano's point, not financial advice but always remember,
buy low, sell high. And then for the ladies out there, shameless plug. If you are wanting
to build community and be in this space, I highly recommend Shifai. I highly recommend Boys Club.
Men too, we can always use allies and accomplices. But we are educating women and people in the
space that want to know what's going on, you know, how to read charts, what we really mean by
do your own research because it's not just something that we shout out to like, you know,
excuse liability, it is something where we are actually teaching and training people
on how to be successful in this space. And yes, if you only 2X or whatever your profits,
that is okay because this is a marathon, not a sprint. And if you can just lock that in,
you will be fine. I've been in this space since early 2021. And like, I'm just catching my stride.
Um, and then lastly, you can all find me at Jen Marie, INC on everything.
And if you all are in NFT NYC, hit me up.
Awesome. Hopefully I'm coming through because I was starting to rug really bad. So I had to switch
mics. So can you guys hear me? Just throw a thing real quick. All right, cool. Awesome. Yeah,
so I too will be at NFT NYC. And I will say the one thing that I would say to, or call to action for
the audience would just be to find a buddy. It's like a buddy system, right? If you don't have at
least one friend within the space, right? I think you should just try to find someone that you
connect with. And even if it's not for the purposes of, Hey, let's make money together,
right? Just someone who you could bounce questions off of and research together.
You know, there's like a motto, like each one teach one. So if you learn something,
go share it with your buddy. If your buddy learned something, go share it with you. And I think
it makes the space a lot more fun to explore because we're all learning as we go. I don't
care if you've been in there for three cycles. I mean, there's new things that still coming out
and you're learning too. So to have that buddy, there is the number one thing I would say,
connect with me mostly here. This is my favorite platform. So Tropic Vibes, you can listen to the
NFT Business Show podcast, whatever. But if you're at NFT NYC, just let me know, send me a message,
DM me, whatever it is. And I'll connect with you for sure.
Love everything that was said so far. Just want to say huge shout outs for today's space,
layer one ex co-host and just in general, all of the people up here with me today as well.
It goes to show because some of you guys I've definitely hung out with and months ago, even in
random spaces, seeing familiar faces back now. But yeah, main point is, as it was already kind of
said, you know, make sure that you do your kind of research, make sure you have a buddy. And I would
say in general, keep a good mood and keep good ethics, because just like in the real world,
you know, kill them with kindness. If you come in with great intentions, whether you're a builder,
whether you're, you know, a community member, whatever it is that you're trying to partake in,
I think if you come in with genuine intentions, the rewards will reap themselves. Maybe it won't be
that your token goes up in 20% overnight, but perhaps, you know, you managed to, you know,
get a new connection, get a new partnership, get that actual buddy, which Tropic was just talking about.
So I think those are just important things. Keep your head high. We're very early into the space.
Coming back to OBS world, obviously, if you have any kind of connection with cars,
or you have any kind of interest in the automotive sector, in gaming and whatnot,
please come and join us. Don't be shy. We have an amazing Telegram and Discord community.
First at first, go follow us on Twitter, not just our account, but all of the speakers from today's
space. And yeah, don't want to take up any more time. Love today's discussion. I think a very,
very important topic to be discussed, something that sometimes, you know, the community or,
you know, Web3 shies away from. But yeah, let's keep pushing. Let's keep building and
look forward to the next space.
All right. I think that's just about everybody. So great. Yeah, so we're going to stick on.
Like I said, all panelists are welcome to stay on and help us answer these community questions.
There's some really good ones. So let's dive into those. Sam, do you want to take it?
Hey, yeah, sorry. Can I repeat that? I can hear you. Yeah. All right. I guess we can take the next
question. It's from Escobar. Could bridges be completely eradicated from Web3? Can we purge
bridges? I know my opinion on this. I'd be curious to see what the other panelists that
are remaining would have to say. Yeah, a little bit on it. We just had a big
partnership announcement with Wormhole a couple of weeks ago. We've worked pretty closely with,
you know, the other groups like Axlar, Layer Zero, even XY Finance.
I think bridging is one of the scariest actions that a new person can take in crypto. I've
witnessed it firsthand when, you know, showing I have a lot of like real estate friends and I've
showed them like kind of how DeFi works and NFT is expert stuff. And you kind of see like the life
leave their face when they click that transfer button, they have to wait 30 minutes for their
funds to settle on some other wallet. And they're like, Oh my gosh, I do think long term,
it changes. I don't think that bridges go away. I just think that you start to see
more adoption of natively multi chain applications and tokens, NFTs. And you start to remove that
sort of worry about transferring, right? You can use like mint burn functions,
which are a lot faster, right? A little bit cleaner. There's even products like
Debridge, right? With a DLN network that's basically finality within 30 seconds on a
cross chain swap, you can go EVM to Solana back and forth. And it's very fast.
That uses a maker taker model, which is a little bit more, I would say safe than the pool model
that we've seen get exploited in the past. But I think it's just the natural progression,
right? Like just like the internet, pre Google and pre Facebook and Twitter.
You kind of didn't have these interconnected like sign in with Google options, right?
That kind of made applications a little bit easier and started to connect everything.
It's going to be the same in crypto, just a matter of time and technology. And we've already
seen infrastructure improve greatly over the last couple of years. Like the idea of a natively
multi chain project a couple of years back was a pipe dream, right? And it was very difficult
to facilitate. Now we have standards that help facilitate those. So yeah.
Great, anybody else want to jump in?
I just want to say, yeah, I think that was a really good answer. And it is terrifying. It is
a lot of anxiety inducing things within the space. And that has to be on the top of the list. So
yeah, I agree with everything you said.
Yeah, we we definitely agree from a layer one x standpoint, we actually believe that bridges
should go away. We because of the way that we've built our VM, so we've we've built our own
virtual machine from the ground up, which allows us to not only interact with EBM chains,
but non EBM chains as well. But not only can we move assets, but we can move data and logic. And
because of that, we're able to go a little bit lower in the funnel when it comes to, you know,
burning these bridges in the use forum. And the reason is, is because we a lot of it has to do
with our ability to do smart contract to smart contract communication. And that allows us to
be able to natively swap tokens across the board. Very quick, very, very simplistic.
If you haven't, I recommend that you try our beta swap that's out right now that you can find
an l1 x app.com. You can see a follow us on Twitter from our main core handle, you can see
a lot of the comparisons that we've done against our Stargate squid. And we're adding new ones
constantly that we're comparing against. And a lot of the times we're a fifth of the cost of,
you know, one 15th of the speed in terms of delivering good user experience. I agree with
with both Michael and and Tropic that, you know, it is definitely first time using a bridge is
extremely scary. In my mind, I have an image of a, you know, some 12 year old kid running a server
out of his mom's basement, being the bridge actor there. And it's scary is definitely scary,
especially when you're moving a lot, a lot of coins between chains. So great question. Escobar,
thank you for asking. Sam, do we have any other questions from the community?
Yes, yes. And I'm sorry if there are some background noises. There is one question from
Alvita. And I think this one's focused for meme coins. Will projects without utilities survive in
the future? Yes, I think it's, it's community at the end of the day, it's no different than an
NXT project, right? Like, it's really any project in the space, like part of part of the job of
creating a successful ecosystem or product is building a community, right? Those are your users,
those are your evangelists, like anybody who has that community will survive and do fine,
regardless of utility. I do think that utility helps with other aspects, like if you're talking
about onboarding institutional investors, or getting for DeFi is a huge focus on liquidity,
right? Liquidity is kind of the lifeblood of everything. So it's, it's a little bit different,
like you need that community, but you also need the bigger kind of financial partners to
deploy capital into your product as well. So I think, yeah, community is a huge part of it, even,
even just raising capital, if you have a strong community, you see this with layer twos and all
hell ones, like the core community, oftentimes is reflective of the valuations that are able to
achieve. So yeah, they'll be fine. Okay, I can go quite hard on this. And I just speak,
honestly, and mean coins will always exist. And one of the reasons, just one of them is when you go
into the shop and you make a purchase and you tap your visa or mastercard, you don't give a damn
what happens in the background. You don't care about transactions per second, you don't care
about what technology it used, you just want someone to do it reliably. And at some point when
projects become established, let's use Chainlink, Binance, you know, these are dominating the
small sector of that space. Means will always exist because that's what crypto is to 99% of the
people. They don't understand and therefore don't bother learning about what layer one x are building,
but ship, doge, pepe, people understand that so they can jump on board of it. And as long as
there's stories like mine, and where, you know, people make a couple of million dollars in a few
months, there's always going to be more mean tokens pop up. And another reason is as long as we've
got this, we mentioned scammers before now I'm treading very carefully here, because there's
different levels of scammers, the soft scammers, there's hard scammers. Now, for me, a lot of
influencers out there, they have big followings on YouTube, they have big followings on Twitter,
and mean tokens are paying them to shield their token. Now people are going to these guys,
I'm not going to name names here, because you know, that's when people start getting sued and stuff.
But people are going to them for advice. And what are you buying? Now, why are these influencers
very rarely talking about lay one x, but more often they're not talking about memes,
it's because there's shitloads of memes, there's a lot of money in it. And they can keep paying
these influencers to keep pushing that narrative. So memes will always exist. And there's many, many
more reasons. Hi, guys, I'm gonna pick this one up as well. Hey, I'm Aina, I just stepped in here.
And Rob just literally actually read my mind. So speaking of community, and to Michael's point
about community growth, and natural organic adoption, I personally, going back to Rob's point
now, I personally would love to get rid of predatory influencers and agencies that,
you know, feed on a young project, because and projects are forced to do that, you know,
I would love for a free space to become more, you know, safe, and organic and for young projects to
be able to grow the awareness and community based on actual utility of their protocol or project,
and not out of fake hollowing, right? So yeah, that's, that's my stance.
So just a quick shout out for those that don't know, Aina, she's our resident badass that is
behind the x talk series, she's puts all these things together. So a big round of applause for
her. She's we couldn't do this without her. So thanks for piping in. Yeah, in terms of mean
coin and stability. Yes, I am a strong believer that mean coins will always be around. Yes,
I agree that it is always with community that this hype is is there. And to Rob's point,
there's a lot of different levels of scammers, I guess you could say. And but there are also
some really good projects out there that are trying to build some good sustainable utility
ecosystems, and things like that. And so those are the ones that I feel like the listeners of this
space and all of crypto should be seeking out. They're the ones that are trying to play by
the the ethical rules and and try to grow their their community responsibly.
I'm, I'm of the believer that, you know, when you build it, they will come and so how you build it,
what you advertise what you market yourself as will help determine your sustainability as well
for growth. And if you go after the coupon hunters, as I like to call them, the pump and dump type of
people out there, you'll find those those people really easy. And you you can quickly mark yourself
as a as a, you know, kind of just a pump and dump, rinse and repeat type of project and,
and you'll, you'll almost gather a cult like following, in my opinion. But in the same sense,
too, is is that if you do it by the book, you try to build something, you'll start Yeah,
you might have slow growth, you won't have that hockey stick growth, like some of these meme
coins do. But, you know, with any business, it's a grind. You've in crypto or not in crypto,
it's you've got to put in the time and effort. I think that our panelists that are promoting
their projects are doing the grind right now, by getting out and just talking about their
projects, talking about what they're trying to do, and how they're trying to, to change the
perspective of, you know, web three, and trying to purge them the the negative connotations that
come with web three, a lot of times by promoting what they're doing for the good. So I applaud you
guys for doing that grind. And we're here to support projects in any way, shape or form. So
great question. Sam, do we have any other ones?
I can pick up the questions actually, Sam, Sam, if you wanna, if you want me to,
thank you, one really good one. And so can they purge the mentality of getting rich
quickly and owning lumbos overnight? I think this is a great question. And I know it's, you know,
it's very sarcastic, but in reality of things, I think it's also quite a reasonable question.
Anyone wants to pick up? I definitely would, I think. So I think that's really a funny question,
because it's very appropriate in the sense that, you know, a lot of people do come into this
space because they saw the Lamborghini and I get it. That's like, just especially as a younger guy
that like, that is very, you know, what we see is what we go after, even though I don't consider
myself that young anymore. But anyways, so it is very influential on decision making process.
But at the same time, too, I do think it is something that can't go away because people
always want the next thing. And as I opened up by saying, I'm in Jamaica, right? So if somebody
makes $10,000 in the year, that's a decent year for a lot of people, right? Now, to someone who's
living in the US, $10,000 is nothing, right? So if we look at it as a very US or Western,
Europe way of looking at things, it seems silly. But if you're living in somewhere, let's say,
where the average person in your community or your village might be making $1,000 or $500 for
the year. Again, everything's on a different scale, because if you're growing your own food and all
that stuff, like what does money really value anyways, that's a different conversation for a
different room. However, you can tell them that yes, you go into some random meme coin and just
like throw a couple dollars at it never knowing what it's going to do is going to hit it's no
different than them going and buying the lotto, which they're more likely to be struck by
lightning two times in their village than they are to hit the lotto yet they still buy the lotto.
So I don't think the that whole image of getting the Lamborghini or whatever it is might go away
because simply because people still play the lotto and they just know that there is actually
greater odds of hitting it big on a meme coin or some random NFT or some fly by night operation
that just goes to the moon. And some people, a lot of people go into it very well knowing
just like when they buy that lotto ticket that they're probably not going to get this dollar or
two dollars, whatever it is back. But there is that chance and possibility of going somewhere.
Now with that said, after people get wrecked and heartbroken and so forth, I think then that's when
the opportunity for community camaraderie and all those different things, those of us that stuck
through the bear market, I've met some of the best founders, builders and projects and people
during this because why we went through the whole thing together, we got wrecked together,
we grew together. And now that everything is going up, we also get to celebrate together.
So I think yes, it's a negative thing on one side, but at the same time, I don't think it's
going to go away. And I think it's just how those of us that stick around through the whole
thing, navigate the whole thing and hold the hands of those and pick up all the broken pieces
because it's like inevitable. I love, I love the thoughts that Tropic is sharing with us today,
like just for like hats off to you. I think that you have quite some knowledge and it's amazing
to be, you know, very true. And I think that, you know, we can go down an even deeper rabbit hole,
right? Because web three, once again, it's it's an economy that you ultimately can just create,
right? What's what's money in the end? Who controls it? And it starts going so deep. And
I think we start scratching our heads even about what is actual value, right?
So honestly, I'm not even going to start diving in because I think that will be locked in here for
at least one more hour. I also have like another another meeting to attend.
GM GM, you know, 24 seven building, building, building. But I want to say honestly, love,
love, love for everybody in this space here today. I'll be hopping off right now. If you guys want
to connect, please let's connect. I would love to, you know, have some of you on our own weekly
spaces. We have our weekly space as well on Friday. But that's it. Cheers. Cheers. Cheers.
And looking forward to many more conversations in the future. Hey, OBS, I definitely want to go
down that rabbit hole. So anytime you want to go down that let's let's do it. Let's set up an
AMA for that one. Let's connect. Let's connect. Definitely. Our DMS are open just as much for
anybody else. Following each other, liking each other, sending that first DM costs nothing,
guys. Absolutely nothing. So instead of, you know, thinking around what next mean coin to buy,
maybe spend 30 minutes of due diligence into checking out which projects you actually,
you know, think are worth it, which are bringing utility. That's my message for the
rest of the day. Peace out and have a wonderful rest of the week. You too.
I'll definitely slide in your DMS after this one. But yeah, guys, speaking of DMS and
connections between projects that we are bringing up on our spaces, I'm more than happy to
connect to you guys whenever you feel like you can't reach out to each other
due to, you know, security measures or weather. And also, this topic has been so good that I reckon
I'll have to set up volume two for this one in a couple of weeks time after our TG.
I think we will come back to this and recruit the speakers and have a chat
and we can develop these thoughts and go down the rabbit hole as Cody loves it.
Oh, you can count me and I'll be there for sure.
That's awesome. Do we have any other questions from the community?
I think we can call it. Yeah, I think we can definitely call it for tonight.
This morning, whatever you guys are.
That sounds great. So just a big shout out to our panelists for for staying a few minutes
extra to answer some of our listeners questions. We appreciate it. It's always good in AMAs
to have your listeners ask questions. So we definitely wanted to foster an environment
to foster an environment where they feel like they can answer their or we can answer their
questions if they have them. So thank you again for for staying a little bit longer.
Again, if you're still listening, thank you. It's been a great deep dive discussion today
on what needs to be purged from web three. I hope you enjoyed it as much as I did.
I know in and Sam probably enjoyed it as much. I want to give them a shout out. Thanks for helping
me co host this. Before we close this again, another big thank you for our panelists. Please
make sure that you go follow them. They've got some great insight and some great projects that
are coming up and are currently live. So please do that. And then also make sure that you
follow the x talks handle for all updates on upcoming AMAs like this one, we'd really
appreciate the support. And so until next time, let's keep pushing the boundaries of innovation
to unite all of crypto. Thanks and have a great day. Good morning. Good night wherever you're at.