my voice is nothing but a screw for me
I stretched my head but my group just goes on
I'm not gonna kill someone to go back to me
and that's what I guess, I just wasn't willing to say
I've lost my mind, my voice is nothing but a screw for me
what do I say when there's not many persons?
I've lost my mind, I just don't know my soul
my voice is nothing but a screw for me
I stretched my head but my group just goes on
Welcome, welcome, welcome everyone to our Wise Spaces with Magic Eden
here we will be talking a little bit more about Magic Eden rewards
retroactive diamond rewards and the new Magic Eden wallet
before we get into that we're just going to shout out some new notable you holders
and I'll cut it to beat for the updates
but big shout out to Ford, Optimus Prime, nice crown
Gaja, a beautiful Ace of Heart card again
and Gabrielle, nice suit you, I'll be sending them all in the space
what is going on and Dikashi your mic is cutting out a bit
just so you know fam all youth and Magic Eden in the house
how the fuck is everybody doing?
I'm so excited Magic Eden is here, Magic Eden I've been blowing up your spot
and trying to help you sink open sea
I'm so excited to hear what you guys are doing
you guys are bringing the heat you have been
I got dropped a wallet code a bit ago
and I absolutely love the wallet I love what you guys are doing
I'm excited to jump into it with you
and let's just get a quick check on the market
not that anybody's been sleeping but there are a couple things that you might have missed
there is a company and they are putting odds on president
or excuse me not president Trump on former president Trump winning the upcoming election
currently he's up by 55% is anybody betting on that
second question you have to start thinking about is
there's a big vote coming up and people often pick something to vote with
that they're passionate about with
I'm wondering how many people in this space even if you have never voted before
how many people are going to vote with their crypto wallet
because there are going to be a ton of decisions on the ballot
and this is going to be a decisive year for crypto
next up we have 18 senators currently on the list that are pro crypto
is that enough to push across the initiatives that all of us would like to see in the upcoming years
I don't know we have Udi he moved quantum cats myths two days away
what is going on with that myth and is 0.1 Bitcoin outrageously expensive
I think the last minute I saw that expensive was moonbirds
and look where they are I'm not saying that's what's going to happen but that is in a fucking expensive myth
we have the crypto green and fear index at 61 we're up six degrees from yesterday
that is a good sign NFT sentiment is up top search term for crypto is suey
call sign sui it's up 53% on the seven day
it continues to make an appearance on this list it has for like the last three weeks
if you're not looking at suey and say SEI you should be just keep that on your radar
for trade volume for Ethan Solana they're both up a bit that's why the NFT sentiment is up a bit
and then the last story that I was looking at there's a company called Gabor
and they are a fragrance company and I started thinking why the hell is a fragrance company
creating a store in the metaverse like what the fuck are they excuse the language sorry
but like what are you thinking creating a fragrance store in the metaverse
and then I decided to like push the button on that a bit and think about it a bit more
and so think about it the metaverse offers like a different kind of shopping experience
a shopping experience that you've never experienced especially most people
and it also offers a shopping experience that's a little bit more it's you're in another world
so companies what they're going to start doing is let's say there's a 20% discount for stuff you buy everywhere
but if you go buy it in the metaverse they give you a 25% discount
and that you know like they're going to sweeten the pot to get people into the metaverse
and it said because it's a different immersive buying experience
it's going to give companies a chance to touch you more than once
and it's going to be interesting to see how all this shit plays out
so I'm a firm believer in selling perfume in the metaverse it took me a minute
but like sometimes I need to make sure there's there's common sense behind some of this stuff
and if you think about it it's actually pretty brilliant
and that's not the last story the last story is Neurolink has gone live inside a human
they put yeah this is I would love to scratch the surface on this
and what I'm wondering is how long before this computerized human gets hacked
and if you hack them what can you have them do like can you have them do okay okay
I'm not going to get into that Dikashi fucking hello hell everybody up here
youth's magic Eden legend we've got a full house magic Eden you know what it's funny
I put out a tweet for you guys the other day and like I was kind of just throwing open C under the bus
and here's why open C the last tweet I saw from them they were like we've made some improvements
and we're adding a calendar to our marketplace who checked out was just like absolutely nothing
and then when I look at what magic it is doing you guys have just dropped a wallet for all chains
you have a cross chain reward system you have a collector friendly platform a creator friendly ecosystem
you created a non-fungible down and you've open source all the key contracts like that
what who are you guys I'm and this is research I did on my own because I'm just impressed with the depth
at which you guys are hitting the balls they're all going deep in the field and I absolutely love to see it
magic in who's who's who's got the microphone with you guys tonight and would you like to say hello to us
hey yeah I knew we had somebody special but we've got bow on here we've got Cody Nick on the Bitcoin
and then a mix of nil and Johnny I see Johnny up here he's in the audience there on the polygon account
we have to use account too but it's a it's just chilling right now before we even I'm just going to hot seat you for one second
when is it like that is going to be such a game changer when is it going live on your platform
so I believe we'll be making an announcement pretty soon in regards to the date but I will say obviously it was delayed
or supposed to come out in Q4 last year you know we are running youth space we're all familiar with delays
but good things take time but it is coming very soon all right I love it here now like tell me about what you guys are working on the wallet
tell me about all the magical things that keep you guys magic eaten yeah yeah I just really appreciate you guys just
inviting us to this space too it's a really great crowd and super excited to shot more but there's a few different things we've been working on
on obviously our rewards program is one of the biggest it's you know kind of fueling our entire company we can get into that in a little bit
but I want us to chat about the wallet because this is the hottest topic and it just came out yesterday
and we have our lead dev legend up here it's legend I'm just gonna let you cook on this one
yo how's it going guys yeah I can talk about the wallet basically what we found was like
if you want to be close to your NFT community it's so hard to onboard them and you know people coming from you know web2
or never owned an NFT before you'll send them to magic Eden they'll click connect wallet and then you see this giant model of like a hundred wallets
and you're like that just confuses everyone and to like be really close to like your community and users
you got to just clean that up so we tried partnering with wallets in the past but the UX wasn't there so we just decided to do it ourselves
and yeah we're gonna just fix that onboarding problem and so that you can just go on magic you didn't buy your NFT without ever thinking about like what wallet do I need
how does this chain work should just be enter the site and start trading you know legend I think one of the most interesting things that you said is just the word UX and how apparent it was to you guys that something needed to be done
and I think in this space when we look at projects that are succeeding that are still finding the ability to ramp up those projects have a customer centered focus and I don't care if it's an NFT project creating community or we're watching an NFT project lose gas in the tank from a small hole somewhere
if the community if like that community centric vibe if if customer first if user experience and user interface isn't the the rudder in the water like the ship has no no direction the sale so hearing you say that it's super sloppy for a user to enter this space and the fact that I don't know the fact that you guys
now it seems like you can almost carry somebody cradle to grave like to me that's the idea get them the minute they come in take care of them off from an amazing marketplace and keep them as a customer basically forever right
yeah like I forgot who said this but internally we're like magic you didn't it ends up being like the last place you go right you go on Twitter you go on discord you learn about everything then you go to magic even so like we don't have the discovery
so if we can fix everything else where you're just on magic you didn't end to end and don't need to think about other platforms that's that's the direction we want to go and the wallet is a core piece of that
and instead and then like wallets huge but what whether you like it or not and I think everybody in this ecosystem knows like the incentives are we're DJs we will we want we want the ability to gain for nothing and then risk it all for something even dumber tell tell me about like I want I want to double click on the diamonds and the reward system
and then I game the system and are you fearful that my big brother is going to start messing around on Solana
yeah I'll take this one I mean it'd be great you know anyone from east I want to check out soul the easiest way is using our wallet obviously with our built in swap feature that legend spent months working on you know in the team but yeah I think there's a lot to come for rewards
I just released the tip of the iceberg and there's so much more coming something that we're really excited for is on Friday we'll have a diamond retro drop so any activity on magic Eden not the launch pad and obviously not the wallet because it's so new just secondary buys and trades you'll be rewarded for that so a lot of people with dormant wallets or you know people that have not used soul for a while are probably going to be coming back and that's something we're super excited for
there may be a way to get bonus diamonds I can't say too much especially beyond you know what we shared on socials but there are some really cool things you guys can be really ready for the figma is awesome I actually showed it to easiest in the audience earlier today and you know he was like wow this is actually really cool and he you know he hates everything as as you guys know of course but no I mean there's there's a lot of other really cool stuff coming out just around that and happy to answer any questions
you guys have yeah thank you for that to two quick questions that I had is if you could just speak maybe a little bit more on the diamonds and what are you most excited about with the diamonds and then something else I wanted to ask is why you find it important to reward early adopters I know some people might be against this but I'm curious to why you feel like how it could be a disincentive I guess to newcomers and it might make them feel like it's too late or whatnot but
just curious why you feel like this philosophy is actually important to reward those early adopters and whatnot
so we lost both she's trying to connect again I'm legend if you have any word on that I'll wait for I'm sorry sorry sorry I guess you could not hear you at all but I got the talent of it yeah so I think like on the on the beat of you know rewarding people that have used the platform like these people made us these people got us to you number one on Florida they are
helping us go cross chain the people that have supported us before you know we really had much to offer when you're bare bones back in 2021 last year 2022 you know even this year so it really is just like something we've kind of always wanted to do is just you know reward the people that stuck by us for the people that cared about us when we were small cared about us when we were big and you know people that have always stayed by our side and I think it is a little bit different than the current drops that are coming out so
you can kind of just go to Magician right now and get diamonds pretty simply trading on Magician and buying Magician listings listing Magician listing on Magician sorry but this is you know really separate from this diamond drop the diamond drop is intended you know as a separate full of diamonds to reward people that have already used it you can be earning diamonds right now you can earn them in the future you can end them in the future on other chains there'll be diamond drops for other chains in the future as well and it is completely separate things so like I said it's kind of different from what we were talking about in the beginning of the
different pools you know it's not meant to discourage anyone if anything it's kind of trying to do the opposite right of you know people that have used Magician for so long finally getting some some cool stuff back right and that's you know what people really want they've been saying that about other marketplaces that other dats other wallets and you know they're kind of as a farming culture right now and people that have used something for so long aren't really being rewarded in the way that we believe they should be.
My microphone's a little messed up but thank you thank you appreciate that answer I think it's it's nice to clear up that philosophy.
Okay yes okay so that it is good to clear up that philosophy is Bo who else is on the team that you said is is up here yeah we've got a we've got Johnny who leads some EVI's on the team and he's got a lot of people on the team and he's got a lot of people on the team and he's got a lot of people on the team and he's
got some people on the team i've got some like Dan, we have ecosystem and partnerships and then we've also got legend who's our wallet, Deb and pretty passionate about our future mobile products.
Right let me start with Johnny and the reason why i'd love to have you chime in is just when Bo said business Deb that lets me think that you're continuing to scratch the service with what is coming down the pipe next.
any light you want to shed on some of the things that are coming down the pike for Magic Eden
along with all these other releases. You'd like drop us some alpha in here that
people aren't going to find anywhere else. That's actually what I'm looking for.
Yeah, yeah, man. That's rough, dude. I'm trying to keep my job first off.
Gotta feed the family. But no, I think overall, the biggest thing that a lot of people
want to know about on EDM is like, ETH Marketplace, right? We've been testing it.
We have people testing it daily. We just added another 20 wallets this week.
And we'll be collecting a lot more people and definitely ramping up that testing experience
here shortly. But doing a ton of product reviews on it, the good news is I can say people are very
happy with it. And that's from three different category groups of traders. So first off,
people are happy with the platform thus far. And then I think the other thing is there hasn't
been a ton of new mints on ETH lately outside of some fire games. And I think that's something
we're uniquely positioned to bring to the table, which is like bring back the minting market on
ETH and hopefully make minting NFTs fun again on ETH because it's kind of been quiet. So
should be a good little time and a good vibe. And I think there's some good things in store
for the broader ETH community that nobody's really expecting. So it's just going to be good, man.
I'm pretty stoked about it. But I'm also ready to give it a break. But yeah, spent time this week
with the UGA's team. And I head back to the good old country on Wednesday, but got to align with
them this week. And overall, I think things are really positioning well. Hey, Jenny, let me ask
you one question. It seems like you guys are doing so much work. You're dotting the I's and
crossing the T's. In essence, when you guys go live with Ethereum, in my view, OpenSea is going
to be a thing of the past. The only other contender you guys have will have, I mean, Tensor,
but if we're just thinking on the ETH side and we think about Blur, are you guys thinking about
adding any sort of future D5 protocols to the ecosystem that might just shut the door on Blur
and kind of what they've been doing in the market? Is there a need for that, do you think?
I think like at the end of the day, when you talk about like building product, and I'm not a product
first guy like Legend, but when you work at Magic Game, you tend to learn product just naturally.
My number one learning from product is like if there's not a product market fit, there's not
like a necessarily like huge reason to go and build it at current state, right? Like the opportunity
has presented itself from a business sense, right? I think Blur's like been doing a very good job of
filling in that spot of the DeFi side. That's not to say like it's never going to happen.
But I think right now, like we really do know our niche and our target audience, which is
creating a good trading experience on a platform level for even the pro style traders that like
would trade on Blur and making it enjoyable for them and end to end experience, but also like
still being able to cater to creators, which is something that I think is far lacking across
Ethereum. So it's just trying to bridge all those gaps into one. But right now, there's no thoughts
of DeFi. Sorry to say it, but maybe at some point. And then just kind of a follow up question.
When you guys talk about bringing Yuga on, not only the Ethereum network and going live with that,
but bringing Yuga on, can you give me any insight onto some of the discussion that you guys had,
like in order to come up with a way to keep the creator in the mindset for the decision making
and why they were so unhappy with OpenSea and why they decided to look around?
And what was it? You know, like I think I said in one of my tweets that you guys are
not only awesome for the collector, but you are an awesome ecosystem being a creator across the
board and underlying currents like that are one of the things why I believe Yuga decided to come
over and work with you guys. How did that push go to shove type? Yeah, what transpired in that
argument to have Yuga get so fed up in you guys to open your door and say, hey, listen, we'd love
to talk to you guys about moving your assets over to Magic Eden? Yeah, well, like I said, man,
it's all about positioning when it comes to product. Transparent, we've tried at ETH before.
We definitely know what not to do now, right? And info, you know, was a part of those different go
to market streams. Not those fault. Okay, guys, it's not. It was awful. We had like, we had no
idea what we were doing. We're just like, yeah, we're gonna launch on ETH and just expected it
to go well, but it's better this time around. Yeah, but basically, right, the difference at
that point in time, we didn't have like a product niche. With any product, there's got to be a
niche, right? Like you look at Magic Eden wallet, there's a huge niche, we're feeling a huge role
that is missing to create an end to end experience for trading all NFTs, right? I think from our
platform level on ETH, we are servicing creators first and foremost and being a creator first
platform that we will natively enforce royalties as Magic as a platform, which at the end of the
day, like we want to have our fun parties and like send it together as a group, as a unit
of our said collection. You know, if we want to bust shoeys, we got to pay royalties. That's how
it works. That is the way this, that's the way the math is math. So I think that's number one,
right? Like royalties have to be a part of this. And in regards to Yuga, it's not really like this
like, super cool story of like, Yuga hates OpenSea, I don't know if they do or not, right? I don't
work at Yuga. But what I do know is across the board, like Magic Eden, we value relationships,
we value partnerships. And those don't have to turn into a business case. But at the end of the
day, like, we realized that without creators and web3, like it, it doesn't work, like web3 is
nothing without them. So Spencer, the chief gaming officer at Yuga, and Chris, our chief gaming
officer at Magic Eden, both work together previously in the web2 spectrum. And then that
just kind of led to a natural, like relationship. And I think with royalties, you could see the
writing on the wall. And so one plus one equal two and an interesting relationship came to came to
be in regards like keeping creators at the first and like center of the mind. That's just a natural
ethos. And I think the moment a platform forgets that is the moment you start to slip. And we've
seen it on all sides of the spectrum. So just keeping that mentality first and foremost, and
like learning from mistakes that we've made and seen other people make is how like hopefully,
we'll have success this time and not not fumble 3.0 lead, you know what I mean?
Yeah. And then, Johnny, I don't know if this is a question for you or more toward legend, but
and for people that don't know the new Magic Eden wallet that you guys dropped, it's Ethereum,
Polygon, Solana, and Bitcoin. What, like, just future forward, right? I think you guys are really
good at looking at forward and looking at product market fit and demand. And you saw a need, hence
creating a wallet. Future forward, what like everybody, like whether we like it or not,
Omni chain or all chain recognition, like eventually we're going to move toward
most of these walls that divide the chains coming down, especially from a user experience perspective,
right? Like the idea to onboard people is to have them not know what chain they're interacting with
and just give them the ability to buy what they want when they want it. So like with that being
said, are you guys entertaining, bringing on any more chains into your ecosystem? And if yes,
what would be your first or second consideration for the next day?
I can, I can help answer this. At the end of the day, like Magic Eden, we're not really that
concerned about chains. It's more we are creator maxis and it is our job. Doesn't matter where the
creator is. We it's our job to figure out ways to support them and, and get them the users to,
you know, have be a successful creator. So it's like just solving distribution problems. And
it's not about the chain. It's our job to abstract it. We're doing a lot of work to like
platformize our marketplace. So if there is a good chain in the future, we can add them in. And then,
and then all the onboarding is easy as well, because it'll all be in the Magic Eden wallet,
like all these like new ones, nobody knows which wallet to download. Those marketplaces are pretty
slow. So we have a unique opportunity to kind of capitalize on that when the time's right.
So we don't really have chains top of mind, but it's more if a big creator wants to be on a
certain chain, it's our job to support them in any way we can. I love it. And then just since,
since you're talking legend, do you want to double click on some of the technicals?
Just letting people know that people can actually switch cross chain functions right in the wallet.
There's no need going to a Dex anymore. Kind of just give a technical breakdown of what you can
do in the wallet. That'd be awesome. Yeah, we have a kind of cross chain first wallet. There's
no chain switching, you just inherently can use all the chains. So for example, in the swap,
you can literally go from BTC to a Solana shit coin or Solana shit coin to random ERC 20.
That enables anyone to just switch over to whatever community they want to go to.
And then the end goal, you should be able to connect to the magic Eden website
without picking the chain, you just inherently connect to all of them at once. So there's a lot
of things we can fix in the long term. And we're using this opportunity to do that.
And then legend, even even to click on that a second time, one of the things that I noticed
about the wallet and the integration with the magic Eden platform is things I like the way that
the magic Eden stuff displays in my wallet. Do you find there's a huge advantage to,
you know, having the wallet associated with the marketplace in making the user experience better?
Yeah, like, for example, in our wallet, I think we're one of the only like NFT first wallets.
So if you open the wallet, you'll notice the first tab is your NFTs. And we have like a portfolio
value of all your NFTs. That just really focuses on like, hey, you joined all these communities,
you're part of this, and you can watch kind of all that movement. And then it's a natural funnel
to like the magic Eden marketplace where, hey, oh, I see the prices moving on my NFT, I can go trade.
And, you know, in the future, we can probably redirect to creator initiatives and all that.
And then just just while I have you up here, I'm trying to throw some questions at you that'll
answer questions that potential listeners might have. Talk to me about risk management.
I think, you know, like, it's always a good idea to look at competitors and see what else is out
there. And I know that MadLads came out with their backpack wallet, which has a really interesting
feature to mitigate theft. Do you guys have any type of theft locks or any ways to help
new users feel secure with their purchases and running around with a bunch of salami in their
wallet? Yeah, yeah, there's like two or three things I can talk about. One is we didn't just
make this wallet from scratch. We partnered with a company called Exodus, which has been in the game
since like 2015 building wallets. So we leveraged like their 10 years of just security practices
and building a wallet so that we can focus on just purely, you know, the NFT side. So we're,
we got their infrastructure. Plus, like, you know, we got the normal Halbern audits,
we open source a few of the modules. And another part of it is, like, we protect your ordinals.
Like a normal BTC wallet doesn't know anything about ordinals and rare sats. So we have like
a bunch of layers of protections not to accidentally spend them. And we also have blowfish
that kind of protects your transaction previews and other layers on top of that.
That's like custom for just magic even wallet.
Awesome. And then legend, this is all mobile friendly, right?
Well, that's the plan. So we launched the kind of Chrome extension first. We are literally
starting to build a mobile app in the next couple of weeks and to kind of do that as well.
And then you guys literally shut out thousands of codes you get the workforce that you guys had
on the timeline, handing out these codes and creating the FOMO for this wallet was
yeah, like it was awesome. It was awesome to see I was happy to get a wallet.
Yeah, Dikashi, does anybody in the in the in the audience have any questions for magic
Eden dropping all this this fire on us this evening?
Oh, hey, everyone. Utes here. As an NFT collection. I'm curious, because your wallet is uniquely
positioned being like the marketplace and cross chain. Like what makes you guys really excited
to build an NFT first wallet? Because all the wallets I've ever used pretty much for tokens.
And I think there's a lot of really cool stuff. I mean, backpack was mentioned, they do a lot of
really cool stuff. But but what gets you guys really excited about having NFT power users using
your wallet? Yeah, I'll take this and throw it to legend because I know he has some good insight
from the dev side. But from a business and you know, partnership side, I think a really cool
standout feature is this open edition claim in the wallet that we'll be having. We have some
really cool partners, we have Kleenasaurus, DAA and Badagos as the first three, and some other
really cool partners we haven't announced yet. So the only way to get these are to use the wallet
and claim it. We're not making any money, the artists aren't making money, the creators aren't
making money. It's just a free cute piece of art for people using the wallet and actively using the
wallet. At the time that these open editions go live, they'll just collect it as you know,
a little piece of memorabilia. So that's a really cool thing that we're doing. And we plan to do
some more activations like this and further down the road. I think the really nice angle that we
can take is, you know, once we do get to mobile, you can just mint directly from your phone and
it will just be, you know, all in one super seamless, super quick and easy. With our moon pay
integration, you can just upload money pretty much from your credit card, debit card, and,
you know, just get sold in minutes and then mint and claim this free NFT on the go, which is really
cool. Something else that I'm really excited for is, you know, the capabilities that we have long
term with some of the partners we are already working with, such as, you know, Ink and some
other mints that, you know, they're doing boosted allow list odds. There's a couple that are doing
1.25x for their drops, stuff like that. So there's a lot of cool things. We've kind of teased that the
wallet will also play into rewards and diamonds can't say too much about that because I do like
my job. But those are a few things on the business side that, you know, are really exciting and
something to look forward to, but I'll throw it over to legend as well. Yeah, some other cool
things is I know like NFT founders, like the wallet is still going to be creator first. So
a lot of NFT founders, they have problems, like knowing where their users are at. For example,
Discord is like the worst. If you want to keep track of like 10, 20 collections, you're just
going to miss everything. And when we have a mobile app, we will get to do things like, hey,
all of these, like holders are, we know which phones there are, you can push, we can have the
creators push notifications to them directly. So we can open that channel to creators themselves
to just be there with their kind of holders. And that's the type like Magic Eden will get
all the kind of collectors and serve as a distribution platform for the creators. So
we got a lot of cool experiments that we could do on one term. Okay. And then legend, it's funny,
like, you know, like when you think of good ideas and you're like, you know, you put it in a book
and you end up not telling anybody, I was thinking this would be an, and I'm sharing it because you
guys are cranking out awesome features. It's creator friendly. It's user friendly. You know,
it would be interesting moving forward that definitely nobody is doing. And I think we're
going to see this play into the ecosystem more and more is let's say everybody has their, their
main PFP. I think what we're going to start to see is there's going to be offshoots of that PFP,
meaning for instance, huge has huge 2084 cool cats has not only their standard, like three quarter
view, but now you can mint stuff that's on, I think it's on polygon possibly where it's a
front view of your cool cat and it's, it's not a new asset. It's, it's kind of additional art
that gets associated to your main asset. It would be awesome if future forward, you guys had a wallet
that not only held the main asset, but also showed the additional assets, you know, like things that
didn't make the collection. These are non-deluded things, but places where collections add, I don't
know, deadfellas, they have a, your, your standard 2d version. Then they also have a 3d pixel version.
It would be awesome to be able to keep all of those associated together. I don't know if that's a
possibility, but if it were, I think you were the person that I should be telling about it.
But yeah, I agree. I think like identity is a big part of web 3 and onboarding is part of that.
Like you come on, I have all these things and I want to show what represents me and it's,
it's something that we also have to solve. We're running different experiments on that.
Like we don't have a full-fledged product, but definitely like since we're a creator first,
we're going to make all those micro decisions. Like, hey, if we see enough problems from
different creators, we're going to start building towards kind of that optimization. So if a bunch
of DOWs are coming to us like, hey, you're serving the main collection and we can't, you know,
start contacting the holders of our specific DOW, that could be a possible thing we build in the
future. And especially with the wallet, we can target the people who actually own those assets.
So it opens the door to like experiments like that. I love that. And then I'm going to throw it over
to Vincent for a question. And, but, but legend, it's even like another example is, for instance,
d-gods, they have the upcoming female d-gods coming and those will be associated with
the original collection. It's going to be non-dilutive. Like you have to have a d-god to get
a female d-god. And there are, I think these, these, these versions of our original PFP,
I think we're going to start to see more and more of those moving forward as collections try and
continue to keep their, their client base or their customers happy and give them options.
I don't know if you had a board ape and you could have it in three different suits
and have it all associated and kept in your wallet for easy finding. And
even though it's not on chain, I do think there, there are going to be some,
some case scenarios where that is going to come up. Vincent, how are you tonight?
Hey, what's going on, B? Thank you so much for having me up. Hey, what's up, Takashi? What's up,
everybody? Thank you to the Magic Eden team for taking the time to spend with you and just
inform and educate us on what is exciting with this new application. So I was able to
at least download the beta, I think it was the wallet, Patty Ice was able to give me an invitation
code and I love the UI with the wallet. And I actually had a curious question because,
and this is regarding ordinals, because I've been buying my NFTs with Xverse. And so I think you
guys are probably still in the works of integrating the Bitcoin wallet, at least within
the Magic Eden extension. So I just want to ask this one question, which is basically,
if I wanted to buy, say for instance, a Bitcoin dGods, would it be better to wait to buy it using
the integration with Bitcoin within Magic Eden's extension wallet? Or would it be better to buy it
on Xverse and then transfer those assets over to Magic Eden? And the reason I ask this is because
I wonder if we have these Bitcoin ordinals, NFTs in the Magic Eden wallet, will that qualify us for
any diamond airdrops? I hope that makes sense because there's so much weight and anticipation.
I do want to qualify for at least that, other than my Solana bag. But I just wanted to maybe
get a little bit more information about that. And if you need more clarity around my question,
I'm happy to answer that. Yeah, I understand your question. You know, there are plans that
we're going to have, but there's nothing like public that I can talk about. I think, you know,
I think we could, there is some play where we, you know, work on certain features, but we have
no plans right now kind of for like diamonds or anything. So we will probably figure that out
another time. Okay, no worries. Thank you for just answering that. So let's just keep that on
the DL for now. And then the second question that I have is, you know, once this Ethereum
integration is available for, you know, people to, you know, trade NFTs using Magic Eden for
Ethereum NFTs. Is there any, I just feel like what you guys are doing is pretty awesome.
And so kind of what Beat was talking about escaping kind of from blur or closing that door.
What was really interesting to me was you want to respect the creator royalties. I think that's
absolutely amen to that. Love it. You know, that I think that's what's really needed to sustain
these ecosystems within these NFT communities. So maybe this is not like an answer, but what is
your team's intention? Is it to basically not like save the Ethereum ecosystem, but give people
a better option to maybe migrate their NFTs off of like contract platforms like that,
and move them over to Magic Eden where it's going to be respected. And, you know, maybe that will
change the game within Ethereum right now, because blur is completely annihilating almost
every top blue chip collection. So just want to get your thoughts on that and love to hear it.
Yeah, I wish Johnny was still here because he works with that team way more closely than I do.
I don't know if you have an answer to that, Liz.
Yeah, Johnny is probably the best one, but I can take that one a little bit.
You know, we've tried coming to ETH a couple of times, actually twice. We did an aggregator
and then a marketplace with an aggregator. And, you know, this is over a year ago. And this time,
it's, you know, very creator first. And we kind of have an arsenal to play around with, with rewards,
with, you know, our ambassadors, a lot of other cool stuff that we haven't even released, our wallet.
And, you know, we've always been a creator first platform, whether people have kind of realized
that or not. I know everyone always talks about when it went to zero royalties. And what I always
say is, you know, we wanted to do that to kind of get another marketplace out that, you know, was
gaining market share and would have forced everyone to go to zero. And, you know, once they had gone
all the way there, it would have been really hard to come back from that. And thankfully,
Metaplex and some other standards came out. We created Metashield to try to protect creators
and protect creator royalties, which, you know, didn't go over too well, but we did, we tried.
So, you know, we've done a lot of stuff, such as our launchpad, we've done tons of events,
we've done, you know, X, Y, Z, we've, you know, helped over 500 creators across a bunch of different
chains. We have our creator grant program on Polygon. So there's a lot of stuff we've done
for creators, and that's just, you know, off the top of my head. But I think this ETH marketplace
really is just solidifying how creator centric we are. And, you know, there's market share,
there's revenue, there's users, of course, it's all really cool. But at the end of the day,
we build products for creators and for users. And, you know, this is a platform truly for creators
and for users, it's going to protect creator royalties, unlike any other ETH platform right
now, it's going to have a launchpad, it's going to have rewards. And, you know, there's a lot of
other stuff in store. But the main thing here is, you know, just creator first, and of course,
user first, we want to have the best core trading, we want to have the best rewards,
we want to have the best launches, we want to have, you know, just the best platform for everyone.
And I see that we did get Johnny back up here. Johnny, did you want to double click or
double down on any of the stuff that Liz was saying?
Yeah, I'm sorry. What was the question? I was like in the middle of doing a product review.
No, it's all good. Yeah, I'll just repeat the question. And I really appreciate whoever's
speaking on behalf of Magic Eden. Thank you so much for just giving a little bit of like the icing
on the cake on what to expect. But yeah, my question was, I guess for you, Johnny, because
of what you guys are doing with, you know, building the Ethereum integration within Magic Eden's
extension wallet, you know, again, like I'm expressing here is that I love that you guys
are partnering with you collapse to bring back creator royalties, is this going to be a game
changer? Because as I mentioned before, blur has really just taken an effect on a lot of the blue
chip collections that we were seeing happen right now. And so it seems like there's a really seems
like there's a breath of fresh air that we definitely need. And it feels like this is that,
that Ethereum blue chips can now or even new collections can literally go over to Magic Eden
start all over maybe or it could just start this whole new cycle. And so I just want to get your
perspective on with this new Ethereum integration happening, do you think that this is going to be
a game changer? Not just for Magic Eden, but for the Ethereum ecosystem within NFTs and the creators?
Yeah, it's a really good question. I think it's kind of like a there's a lot of different answers
to it, right? If you look at it from a top level view, if we're speaking like in terms of a game,
it's definitely a four quarter game, right? And I think it'll be a long fight. Additionally,
like with most games, though, it really does require the community and the fans, so to speak,
to rally behind that team, right? I think overall, what we're pushing for is something that is
extremely hard, right? Like to enforce royalties across the board and change a standard that is
currently not pushed amongst like other platforms. That's extremely hard, right? But that doesn't
mean it's not technically feasible. First off, like net new projects, that's an easy standard.
That's an easy fix, like technical integration, we're there. And even from like supporting native
listings on Magic Eden, royalty enforced, we're there. I think overall, the biggest thing with
everything in web three, it always ties back to creators in the community. Like those are the two
heartbeats of web three, right? Like the platforms are all great. But at the end of the day, like the
community and the creators like have to buy into like the vision, right? And the long term goal.
So I think the more community adoption, the more creator adoption, the more that there is for
change. Do I think that this will be a game changer? Yes, because I think it's needed.
I think it's a pivotal thing that is missing amongst web three. And I think at the end of the
day, royalties have disappeared from projects. But at the same time, projects expectations from
community members has not disappeared. If anything, they've, they've increased, which makes being a
project founder extremely hard, like, sorry for for you guys that are project founders out there,
rough times. Because like, if we're looking at it, we can all say, hey, you need to have
different revenue streams. I think that's, that's a valid point, right? That's fair.
Like, that's an argument I hear all the time. Well, hey, Johnny, they should have different
revenue streams. Well, as we all know, in order to make money, you have to spend money.
And realistically, like royalties do help come into play there, it helps build up some of that
war chest, to be able to go and build those endeavors to create other revenue streams. So
overall, when we view this, I think for net new projects, this is like a huge thing. And for
existing projects, we're going to work with them to get them in step there. I think the biggest
thing is community is going to have to be receptive. And there's going to have to be some
bending on all sides of the table, right? Like, everybody's gonna have to bend, we're gonna have
to shift a little bit. But there's a clear need for this. And when you look at ecosystems that
adapt to this culture, to this setting, and this new ethos across the board, and everybody
believes in it, beautiful things happen. And I think it overall raises the bar. And it creates
positive swings for the projects that are on that chain. So long form answer, I apologize. But all
in all, yes, I think it's a game changer. But I do recognize there's a lot of work to be had there.
And it really does. Obviously, it starts with magic Eden. But obviously, like community and
creators like have to adapt to it. And everybody has to be bought in like from end to end. That's
how change is built, right? It's not one person changes them through a whole entire culture,
a whole entire group. So yeah, sorry for getting so deep, guys. No, that was awesome. Johnny,
thank you so much. Appreciate it. I'm gonna step down, let somebody else speak. But thank you so
much, guys. Yeah, and I was just gonna double click on that as well, Johnny. And this is a
testament to everybody on the magic Eden team. You guys are part of the community, you're out
in the community, you're at the events, like you are, you are out here making a difference. And
that's where you find the product market fit. That's where you understand what people want.
You can't you can't know what a DJ and once if you've never been around a DJ and the people from
open see they are. And they're not part of this community. And just watching how you guys have
interacted consistently with the community throughout is has been awesome. And then with
that being said, like future forward, we have we have Ethereum going live soon, we have yoga assets
coming over. Are you guys going to make a footprint this year at let's say, ETH Denver,
as opposed to, you know, like going to all the Solana events is ETH Denver on your all's hit list.
So I'll be at ETH Denver. And I know our wallet team will be ETH Denver. So I'll be speaking on
a panel at ETH Denver on like ETH related focus things and like meeting with some creators and
chopping it up. But I do know wallet team will be there as well. But yeah, I mean, definitely we're
gonna look there's Degas parties. I mean, as is without question, I'll do a shoe with you guys.
Don't worry about it. I'm here for it. I'm part of the culture. Like you don't have to question it,
use whatever. If we're doing shoes, I'll volunteers tribute just to show I'm with the culture.
I love that legend. Did you want to kick in? Yeah, I think one more thing about magic Eden is that
like, we never gave up this is like our third or fourth time trying to launch it.
We're going to keep trying. So it makes sense. Same with wallet. I mean, like the wallet stream
used to be like the mobile app stream, we've had so many different experiments there to figure out
how to fix, you know, onboarding people. So we've gone through many iterations over the two years,
and we're going to continue to keep doing it. We're going to figure out what what we did wrong
before and kind of improve it next. And I think that's the difference in our team versus just
straight giving up. And we keep pushing there. And that that aligns with our culture for sure,
with the right Frank's notorious and famous tweet, we tried some shit, we learned some shit,
we're trying some new shit. Something I really like about your whole platform is what you kind
of touched on earlier, is how magic Eden was really, you know, one of the best at the end user
experience. And now you're really kind of working on just the whole
beginning to end user. And there's a different a bunch of different ways where you're getting
people involved. And love to see that something, again, I think is really interesting is how you
guys are doing that retroactive reward to loyal users, maybe not now. But like, you know, a lot
of youths and D gods use magic Eden a lot when we were on sold, maybe not so much now or whatever
is going on, right. But it's like I know you guys are getting it working again. But it's like,
yeah, a lot of retroactive holders. And I'm curious kind of what maybe they can expect
on February 2. If someone wants to talk a little bit more about that, I see one of these tweets
that I sent here, all the it says, sent you my loyalty, please show me yours, all of the NFTs
in this video are our D gods. So that's nice to see. But I'm curious if you can just talk a
little bit more on what these holders could expect on February 2.
Yeah, I'll take this one. So I can't really say too much. I really wish I could. But
like I said, I do like my job, Johnny likes his job, legends like his job. So I don't want to get
all of his fired. But you know, there will be a claim you guys won't have to pay fee or gas or
anything like that. It's completely off chain. It'll be a really cool experience. It'll show
some cool, some cool stats, some cool stuff you guys have done in the past with your trading
experiences on magic Eden. They're potentially, hypothetically, maybe some cool ways to get bonus
diamonds. Yeah, again, can't say too much there. But I think people are going to be really blown
away and really excited. It's more than just, you know, you click a button and then you forget
about it, right? There is, you know, just a cool little experience. And like I said, the stats are
going to be cool. And I don't even know if we've released that. So I don't know how much I can say
besides that. But you know, diamonds are cool. And we've been having discussions around diamonds
for the last few weeks, we've been working on our diamond platform for over a year. And you know,
it's just starting, right? We've worked on it for so long and legend and Johnny and you know,
truly everyone at magic Eden from legal to HR to marketing to BD to all of our chains to our
devs to engineers to design. Everyone at the company has touched our diamonds reward program
in some capacity, all 100 plus employees. So it really is like the biggest team effort. And
like I said, this is just the tip of the iceberg. Okay, that's incredible. That's very exciting. I
know for new holders and old holders for sure.
You know, I think you guys touched on literally every single facet of question that I had for
you guys. You guys have been knocking it out of the park. Vikashi, did you have anything else or
any anybody else in the audience have questions?
I got a message from a pale horse and I don't know how much you guys can discuss on this and
appreciate your time and everything you guys have been sharing with us and all the alpha. But I
know you guys got the NFT token, I believe dropping on February 2. If there's anything you
guys can talk about that. That'd be cool. Yeah, the information that's public you can find on the
non fungible doubt Twitter. You know, it's not our entity. They're just using our open source
contracts that anyone else can use. But yeah, just follow their Twitter for any updates they have.
Okay, thank you. Thank you. Thank you all very much. If no one has any other questions,
anything you guys would like to say, if not, it has been about an hour. So really appreciate
you guys for being on our Y spaces and we'll play the outro music. Hi, Clark, I love you.
And respond to my DMS and fool. Bro, you took a week to reply bozo.
This cap. Let's cap. I'll pull the sheets. Hi. Open sea blue a three one lead play the outro music.
Yup. And looks like looking like they might even be considering a sale, but
magic eating on top. Let's go.