Thanks for joining us here this morning.
We are going to start the show here in just a few minutes.
We will give it a few for folks to filter in.
Get our speakers up on stage while we wait.
We are going to start the show here in just a few minutes.
We are going to start the show here in just a few minutes.
Good morning and welcome to the lucky lead.
Today is Friday, January 19th folks.
It is another cold and snowy winter morning here in Chicago.
We got another four to six inches last night in a winter storm.
It's still very, very cold.
Cold is an understatement for the reaction to the crypto
undead's reveal yesterday, which was very underwhelming.
We've seen how the markets responded.
Board apes though, they're not feeling cold.
They're feeling warmer after some recent updates from leadership,
pizza ninja mentors feeling warm and cozy this morning too.
We're going to break it all down on today's show.
I see some friendly faces out there.
Juan Snow, Joaquin Tenacious, David, thank you for joining us.
As a reminder for any new listeners out there,
we do run this show every weekday, Monday to Friday
at 10 a.m. Eastern, covering all the major news
I'm your host, Tyler D., and I'm joined today
by some amazing co-hosts.
We've got Emily Love's crypto, a Web3 security expert
and co-founder of Fullproof Labs.
Ghost, content star over at LuckyTrader, Quiet Whale,
deep in the AI streets, still hanging out with us.
And then Logan Hitchcock, editor-in-chief
over at LuckyTrader, he's been covering
this space in-depth for years.
He's repping the LuckyTrader account.
Logan, GM, how you doing?
I'm fighting off a bunch of snow here as well.
I don't think quite as much in terms of quantity
as you've received, but still dealing with it,
That's the sign of the times here during winter.
Again, easier for us to stay inside.
Folks, we've also got a special guest
on with us here this morning.
It is the one and only Troppo Farmer.
Hey, GM, Troppo, how are you doing?
I'm literally just waking up
and getting into the swing of things.
So I haven't done a space in probably,
fuck, I don't know, like a year.
I feel incredibly honored.
To be clear though, you're actually the first person
that's asked me in a year.
So that's why I said yes.
Well, it's been that long.
I appreciate you spending your morning with us.
I think we've got a crew here.
We want to talk board apes,
but we're kind of speaking out of turn.
So we want to hear from an OG holder.
like I read the morning minute
that I make sure to read every morning.
And I'm not full straight to you.
I mean, I'm sure everyone here is subscriber.
Like it is a great tool for people in the space
it's a nice mix of like news,
you know, you got nice coverage here.
It's a little bit opinionated,
You should read on the toilet too FYI.
Well, that was just an incredible review.
I'm going to have to write that up inside it.
Well, I mean, you can come on the stage any time
if this is how you're going to open every morning.
Well, folks, I can't wait to get into it
and shop it up with Tropo.
What are we talking about today on the dock?
We're going to start with board apes
We're going to talk with Tropo
about this new gaming council
and broader state of the ecosystem.
And then in the second part of the show,
we'll get into a controversial crypto undead reveal.
The Sujiko warriors flipping them,
the pizza ninjas met 3Xing,
Trump on ordinals plus a whole lot more.
Before we dive in though, a ghost.
Any housekeeping for today?
We did not pay Tropo to promote the morning minute,
but I will promote it right now.
We might have to pay him though.
If you enjoy the show, as always,
go subscribe to the morning minute.
We've got that pinned to the top of the space.
Just make sure you give that a subscribe
All right, thank you for that.
And folks, we've been keeping the show more casual.
This is going to be a conversation with Tropo,
but if you've got a hot or informed take
on the board ape ecosystem or our other show topics,
feel free to request, come up on stage and join us.
We're on today's morning minute newsletter.
They've been in the headlines lately,
but unfortunately, mostly for the wrong reasons,
community sentiment has been trending down.
the pudgy penguins passing board apes in floor price
have certainly heated up.
And there was some consensus
that you the leadership had been a bit too quiet.
Well, we may have our first sign.
They understand the issues and are ready to attack them.
On Wednesday, board apes had several announcements
on their Twitter page in a back to basics message.
This included a revamped clubhouse website,
a token gated community survey to gather feedback
and then opening up the BAYC community council
They also reminded holders of what's coming soon
with the other side and that the first time
the board ape NFTs will be playable avatars in the game
and Dookie dash two, which is going to be playable by everyone.
I think what also jumped out to me
is this recent spin up of the UGA gaming council,
which includes what 2021 folks across the UGA community,
Twitter influencers, gaming personalities, and more.
You know, to me, why this matters
and I want to hear from Tropo and others is,
I mean, I think it's a signal that UGA leadership
does want the community's thoughts
on how to improve and move forward.
They are putting community members in positions
to make an impact on the brand.
They're not just going to build in silence,
roll out updates once per quarter.
It seems like a positive step,
shows Daniel Legre and leadership do kind of understand
what it takes to garner community in web three.
So we will see now how the community responds.
That's my take, just a quick take.
Tropo, maybe I'll, let's get into it a little bit
before we dive into, you know,
the recent announcements from this week,
I guess kind of how have you been feeling
about the last three to six months,
how things have been turning?
I mean, I think everyone has felt kind of down, right?
In terms of sentiment across the board.
I mean, there's such a correlation between price
and how good you feel about the thing you,
the community you're supposedly in, you know,
it's like, it's so weird when we have this like
but a lot of it's just focused around price.
And, you know, I think that's hitting like BAYC people,
like especially hard because it's like, well,
mutants are one thing, but like OGs are another.
Like if they get to that certain threshold where it's like,
well, shit, how low can we go?
And that definitely impacts how good people feel
about the club and that impacts how much energy
they're going to put into it,
how many resources like people are actually creating,
you know, companies based around this stuff and product.
So I'm sure that it takes a toll.
Like why would you open a,
like a burger restaurant when like the sentiment
among the holders is dropping?
Like I think a lot of it has to do with
how much gaming was put into the club and BAYC.
So I think once there was a bifurcation of sorts
or an extraction of the gaming stuff from BAYC to some degree,
I think that put a little more confidence in folks,
at least with me, that it's not mostly about the gaming
because like a lot of people honestly
like don't care that much about that.
Like a lot of people do, to be fair,
but like a lot of folks don't, that's fine.
They're just not interested in it.
They want more of the club networking aspects of BAYC
versus like here's some shit you got to play
in order to kind of like keep up with things.
Yeah, I mean, so just to jump in,
we've talked about that trend on this show,
but I feel like, you know,
board age started as, you know,
the IP that the brand was, you know,
really what people were rallying around.
And of course price going up,
that the token airdrop was all a part of that
But then like it seemed like the leadership direction
to go almost like fully into a gaming ecosystem
seems like it didn't align with the holder base,
at least like the 2021 holder base.
It is like, I mean, I get it.
Like there's always been gaming as part of BAYC
in some way, like, you know,
whether that's like the first treasure hunt,
the second treasure hunt,
there was like a very early like,
do you mean the monkey game?
There was a mutant ape game
that predated apes versus mutants.
There was apes versus mutants.
I mean, so there have been these like gaming experiences.
and then obviously Dookie dash itself,
but I think where it started veering off
is where like it kind of lost the essence of BAYC
in the game with like heavy metal
and like legends of the Mara.
It's like not really connected to BAYC
or it's like so tangential,
it doesn't feel like it's part of the same universe
or the same like spirit of BAYC.
And maybe like they just weren't fun too.
That's a big part of it, but always.
Emily, I think you got your hand up.
Do you want to jump in here?
It just seemed like one of those transitions
where they had taken the narrative
about web three gaming from the,
from kind of the entire web three ecosystem
and been like, oh yeah, let's go that direction
instead of getting it directly from their holders.
And I think that's kind of where the split came from.
And I mean, there's been expensive gaming assets in the past,
but I don't know what kind of a game
you would have to create to have,
you know, the cost of a board ape,
even now be, you know, just the top tier gaming asset
instead of having more to do with, you know,
like an elite social club that's a really,
a really expensive like flex for an individual, right?
Especially an online culture and it's hard to flex online.
You know, in real life you can have your cars
and your fancy clothes and your jewelry or whatever that is.
But that's just not something that's super visible
in the same way that an expensive NFT is.
And I think a lot of the culture of board apes
became defined just by that and that alone.
And that's kind of how it got, you know,
to the all time high, right?
That's how those things go.
And I'm not sure that there was a true acknowledgement
of what that meant for the brand
when they made the pivot to gaming.
And I think they're maybe gonna try to recapture
some of that like, oh, it's an elite social club
and we have expensive things.
And I think that there's a lot of the holders
that do want that because that's what made them
Well, and they are still expensive, right?
There's still like over $50,000 JPEGs.
They're still super expensive,
but they're down a lot from all time high.
And even at the price they're at now,
that's still way more than I think anybody would pay
for even like the best gaming asset out there.
So, you know, I think that they have no choice
but to embrace the elite social club element.
Yeah, I think the return to the club just makes sense.
I've got more questions for Trobo, but go jump in here.
Yeah, I mean, I think it's a really interesting psychology
and we talked about this before,
but like the vibes just kind of felt a little bit off
and everybody wants their project
to kind of blow up in a certain way
and do all these crazy things.
But when that happens, like we saw apes run up so much
and then you get a different class of buyer
and type of person who's coming in
that has different expectations
than the people that were just vibing in the beginning.
So I run up from basically zero to 100 ETH.
And then when those people see their price go down,
they have different expectations and the sentiment changes
and it's hard to kind of beat that back.
And I think a lot of that also comes
with Gordon's kind of departure
and the kind of shift to being a more corporate entity.
And I think that kind of changed the vibes
from like this counterculture type thing
to this corporate feel that really didn't align
And I rocked my ape for two years, I admitted my apes
and that was my first identity really in web three
And I just felt like a lot of the people
that I saw in my timeline rocking apes
and kind of the vibe just felt a lot different
from what originally had me gravitate to that project.
So just, but it's interesting
because I think everyone wants their projects
to kind of do what Yuga has done in a way
but the expectations and the reality of what happens
when your project does reach those heights
Chobo any response there?
Do you feel like Yuga went too corporate from roots?
How do you feel about the leadership?
I don't, I mean, I've never operated a business.
I have no idea what would go into something
But like, I think that's a prevailing sentiment
is that like Gordon leaving for clearly correct reasons
like BAYC was actively killing him.
It is weird that like, you can't blame him
it seems like there's a correlation
with him leaving or taking his absence,
bringing in quote unquote corporate people
and the downturn in the market
and then the emphasizing of gaming versus club stuff.
So I think all those things work together
to negatively affect sentiment.
So yeah, I think having people like Jeff Nicholas
in there who like are OG but actually are capable
in positions of leadership makes me feel really good
because like he, I think he understands it
and he has the leeway to actually enact things
that apes probably wanna see.
And if he doesn't know, you know,
enacting things like the quarterly survey,
which is part of their announcement a couple of days ago,
Like if you guys haven't read that interview with him
on NFT Now, I would strongly recommend it.
Like if you are curious like-
The one with Gordon or the one,
or is there one with Jeff Nicholas?
Yeah, it goes a bit more in depth into like what it means
to get back to the roots and his thinking about it
and really mirrors like what I was thinking too
is like this emphasis on gaming is where things started
to really lose focus on the club itself.
And he is like actively trying to steer that back,
even though it's tricky to steer something like you,
but that is his emphasis.
And it seems like his goal for 2024 is to bring that back.
You know, watching this as an outsider
and I don't currently own any UGA assets.
I feel like they're doing everything right.
I mean, I guess what else?
So they've got very capable and experienced leadership.
You know, they're pulling in folks like Jeff Nicholas,
they're building community councils to get voices,
holders voices to be heard.
Now this gaming council, it's almost like,
I mean, like what else do you want?
I guess an IRL club house, that's what I want.
Where do you want it to be?
How do you think that went physically?
I don't care if it loses $10,000 a day,
like just make it happen.
I don't care about the economics.
I don't care if it's like,
you remember Richie Rich, the movie, Richie Rich.
He had a McDonald's, he had a McDonald's at his house
and it was full of employees, you know,
making food just for Richie.
And surely that could not have been cashflow positive.
But that's my vision for them.
There's just people inside, bartenders, wait staff,
just getting, you know, getting nice, nicely paid.
They're not like, you know, servants or anything,
but just waiting for the apes to walk in.
I feel like that is the end state of the board ape ecosystem
is there's going to be a damn clubhouse
and it's probably going to be very cashflow negative,
I, you know, I posted something a while ago,
like I want just, I want something like kind of,
I don't know, I have no idea how they could do this
or have something that, you know, travels,
like some kind of pop-up thing.
I don't know, you know, like,
I have no clue, but like,
I think there needs to be some physical presence, right?
I mean, it's been teased from the roadmap a long time ago.
I think people like me and a lot of OGs
are like actually want that.
And a few people are considering the actual like implications
of opening something that sells alcohol and food,
which is massive and the potential.
The board ape solo house, the board ape solo house model.
Something, something, that's, I want something.
And then what else could they do?
I think they'll actually get a lot of good feedback
It is kind of like a corporate thing to send out a survey,
but there are definitely a lot of smart apes
and a lot of opinionated apes.
So actively soliciting their feedback
and seemingly eager to act on it is very encouraging to me.
It is a very corporate thing to do,
but I mean, the reason that corporations do it is like,
I mean, it's one of the best ways to get feedback.
You can just open up to Twitter comments
and then you're just gonna get a bunch of assholes.
And it's not structured and like,
I went through the survey.
So I was very happy with the questions in there.
So that is token gated to respond,
but is it, can non holders see the questions?
No, you need token, you need to validate
before even like starting the survey.
Well, we'll have to try to get that leaked here.
Yeah, I think there's a lot of people
web three weirdo Soho house to pop up.
And I think especially when Doodles was doing
their physical popups and
quote unquote activation experiences,
that's about the time people were really expecting it
but I do think that they would have a lot of success
Just pick a headquarters,
probably something like Miami
and keep going on the kind of rundown swamp vibe,
which was going to make the property real cheap.
And then you actually have a place for people to show up
and something for people to do with it.
Like I think part of the disconnect is that
frankly, not everybody is a gamer who bought a board ape
and they didn't expect it to take that turn.
Like they thought it was fun that there's
but ultimately they were there for the parties
and the community and the vibes, right?
So having that pivot to gaming is kind of like,
this isn't what I bought,
And I think that's a hard thing
for a lot of the holders to navigate ultimately.
there's plenty of very successful bar
and restaurant moguls out there.
Like there's a way to make it accessible to other people
and sell day passes or even sell some sort of a,
some sort of like a geographically focused pass
where you don't get the coolest version of whatever it is.
Maybe I don't get custom stir sticks
with my ape on it or something when I go to the bar,
but I still have access to,
like I think there's plenty of things that they could do
to make it extra special and also make it profitable.
Like that country club model has been around
I'm really kind of surprised
you didn't go in that direction in general,
but I can say that running a company
is like a full on company with all of the complexities
especially in regards to crypto is no easy feat.
It's an enormous headache
and it makes a huge amount of cooperation
and just skill and finesse
to keep all those balls in the air that you're juggling.
So, I'm not surprised that they brought on
like a professional experienced executive team
and made a bunch of hires to make it happen.
I just, I'm not sure that they were keeping
as close in touch with the community
in the last year or so that they were at the beginning.
Yeah, but it seems like trying to write the ship
I mean, clearly that's where it has to be.
I don't want a fancy clubhouse.
This sounds like too clean to me.
like the clubhouse from B-A-Y-C-U-N.
No, it should be at a swamp.
Like that's why it's in Florida.
Like the actual clubhouse.
Like the alligators just crawl up.
Yeah, it's not a nice place.
Like there's definitely violations happening left and right.
So like something like that,
I think they should just buy like a bar,
put a sign on it that says B-A-Y-C
and then just like retain whatever staff works there.
They just work for a new place called B-A-Y-C.
And then just like, let's roll with it.
Maybe it needs to be in the keys.
I feel like you just described several bars down in the Florida
and we wish Gordon Goner a speedy recovery.
I feel like if, if Gordon gets back to, to 100%,
his first item on his list is making this IRL clubhouse
Which would be fantastic.
That would be the sign that he has to return to full health.
That'll be worth the cost of the trip for sure to see.
I want to talk gaming castle here in a bit,
but Akin, you you've been waiting now.
What's on your mind here?
Yeah, I was just going to double click on the idea of,
solo houses like has stopped accepting members in certain
cities because it's too popular, right?
So there's clearly demand for this sort of exclusive type.
And I think like memberships are like five grand a year
or something like that, right?
So when you think about that, not just from, okay,
there's a cost and it's utility and you kind of need to kind
It's more also about how do you enhance the value and
And for those who want to connect, connect IRL,
I think it actually makes the community stronger, right?
Because ultimately a lot of these clubs are essentially a
lot of the values of the network.
And if people can connect, get to know each other, right?
You know, do other things together.
That at least gives an avenue for those who are more about
that to actually build deeper roots into the community, right?
And then I think you can figure out ways as sort of like
Emily said, you can figure out ways to actually make it a
Because right alcohol is expensive, right?
you can have club members invite their friends as an
onboarding, as an easy way to onboard them into the
ecosystem and understand what NFTs are about.
Like for me, it feels like a no brainer and it doesn't,
it shouldn't cost them that much to start somewhere and see
if you can actually make it like a break even type
And if it works, then like you can just scale the model.
So I don't think it's that complicated.
And you then give people the avenue to engage in other
things that the team doesn't really have to worry about.
You can, if you have this place, people can go, they can
come, they can like build relationships, start new
businesses and offshoots, right?
There's value in kind of meeting IRL if you want to
see the community build offshoots.
But I think focusing on the gaming meta, as Emily said,
could be quite exclusionary, right?
Because there are a lot of people that don't care about
gaming and that's not why they bought it in the
And so you need to sort of address that, right?
And cater to that core community that's asking for
certain things that are more about vibes, more about
connecting, as opposed to, right, following this
corporate approach to build a multi-billion dollar
gaming enterprise, which is still very, very high risk.
It doesn't really matter if you have less talent.
There's a lot of risk that goes with that, right?
And expectations are pretty high.
But it's also a way to, I mean, they've got
investors that they have to answer to now, kind of at
And I feel like as the gaming play, you can, has
higher upside, you can certainly reach a lot more
Than if you were focusing on a clubhouse model.
I'm not saying they can't do a clubhouse model as
And I think that the concept of a digital country
club that turns into a physical certainly makes a
I'm surprised we haven't really seen it yet.
I do think it'll come probably in this next
cycle, whether it's Yuga or someone else that
But I'm with you there, Joaquin.
Tropo, hell, we're almost 30 minutes into this
We haven't even got to the gaming council.
So this was kind of a fun surprise.
Quickly, I got to read your post here, you know,
talking about your qualifications.
I'm just going to read it verbatim here.
I'm not a part of the BAYC council, but I am a part
of the new Yuga gaming council.
What are my qualifications?
Holding an ape and spinning upwards of three hours
of every day on the toilet.
First order of business, helping to make this the
number one game in the App Store that features
an ape riding a motorcycle through shit.
Did you just get a phone call?
Like, how did you get into the gaming cabal or
Yeah, the cabalas we call it.
I got an email from a dude in gaming at Yuga.
He's like, hey, you want to be part of this thing?
So I mean, that was literally it.
It's very straightforward.
So I think you guys had a non disclosed for a bit.
I don't know exactly how much you can share,
but like, do you have council meetings?
How long have you been a part of this?
Kind of like, what do things look like?
What are your responsibilities?
It's been like a few weeks.
There's just a Twitter chat.
It's just an ongoing Twitter chat.
I'm looking at it right now.
And it's got all the members in there and then staff from Yuga.
So probably the most active person is Spencer.
He's the chief gaming officer.
He's very interested in soliciting feedback
and very open to everything that we're saying.
Other folks from Yuga in there, obviously,
the team that is working on the game far away,
their founders and engineers are in there.
So if they encounter any issues, they're
very open to finding out what happened.
Yeah, it's just been like a kind of a free throw in a way.
So like, we got access to it last week, last Saturday.
And yeah, we've just been like fucking around
with it, giving suggestions.
I will say, I've been very happy with how accessible they are.
I've definitely given my fair share of feedback.
And it's all been welcomed.
And actually, things are being implemented, which is nice.
And yeah, my background is in software development,
software project leadership.
So not only from the angle of that,
I'm trying to make this a quality product just
But also, as an ape holder and an ape advocate,
figuring out ways to make sure that they are taking
care of, so to speak, with this and that they obviously
But the point of Dookie Dash Unclogged
is to get this out in front of non-crypto people,
making it a compelling game and have compelling prizes
so that you can benefit by having NFTs that
But it's not gated in a sense that people,
the average person, the non-holder,
has access to everything that you have access
That could change, though.
There could be exclusive avatars, characters, stickers,
and whatnot that are only for holders.
But in terms of can you be first on the leaderboard
by not having an ape, yes.
Yeah, I mean, I think that makes sense.
And I think, as a holder, you have
to even be rooting that on.
For one, it's easy for me to say again,
but the holders have been rewarded pretty handsomely.
This is one of the biggest ways
to build top of funnel potential and drive more interest
to the broader brand, which would, in turn,
increase the value of the assets.
It's similar, in some ways, to the pudgy toy model.
The pingu holders, we didn't get special access to the toys.
Like, we don't get discounts, free toys delivered.
But folks still root it on.
So I guess one question that came to mind,
I don't know if you had the answer to this.
I've seen some chatter on the timeline
about the ability for holders to create skins.
And there's going to be a marketplace
and be able to sell those as NFTs.
Is that a part of this game?
I mean, could you elaborate a little bit about,
do you know much about how that's going to work?
So there will be items that are available in game.
Like, if you just straight up download it,
you'll have these characters, vehicles, stickers,
they call it, which is the thing
that you see on the leaderboard.
There's a little emoji, which is a similar thing
that the person is saying, backgrounds of the avatar.
That stuff will be all in game as you download it.
And then separately, they'll have the shop,
which is powered by Faraway, which
is the studio, making the game.
And they have a whole creator suite.
So you can make, I think right now it's
you make models and vehicles.
And I think that's going to be extended soon
to skins as well, like shirts, for example.
But they have a bunch of other experiences
that they power with this suite.
So if you make an ape, put it on the shop, you could sell it.
I mean, I think the cheapest price is like $1.
I think there's an actual minimum to discourage botting.
But regardless, they have built-in royalties, reselling.
There's a portion that goes back to the creator with that.
And you can set supply limits.
But that stuff all goes into Dookie Dash,
or would be available in Dookie Dash,
in addition to be available in their other games as well.
So they have a couple of other pretty big experiences
that all these assets are compatible with.
So I would expect people to make things specifically
for Dookie Dash, or with that in mind, probably modeled apes.
I would expect there to be like a pricing
of additional characters and vehicles and whatnot.
Maybe like things, I would also guess
that Yugo would have their own shop with some items on it.
And then potentially some other collabs, too,
with other projects or companies.
I mean, it sounds pretty damn cool.
I think that is certainly an upside for holders
and incentives to play and get involved right there.
Like if you don't want to, you can just play the game
You can go as deep as you want.
I mean, you don't have to play the game.
But when is it coming, in February?
Or is that still under wraps?
I don't think it's been, I don't even know.
I think February, I think maybe like a regional launch
or something in February and like a worldwide launch
after that, I think they're going to phase it in that way.
I know, but I forgot to put it that way.
This has been a great conversation.
I guess before we go, we got one more question.
This has been all over the timeline, the flippering.
I will never call it that.
But that is the other term, I think,
saying entity stats is certainly a proponent of that one.
I didn't think it was possible until Tuesday.
There's always that opportunity for people to be the new number
I certainly played a huge part in that one.
Ape-slipped clunks, that was my.
Actually, it was all about ape-slipping knee bits.
That was the initial one.
I remember that well, because I was on the opposite side
of that tree, just crying.
I was fucking shouting about that obnoxiously.
And then it was ape-slipped clunks.
I was obnoxious about that.
So I would be a hypocrite to say I don't understand people
being excited about it, because I do.
But I've matured now, and I know
that it's not a winner-take-all situation here.
There's room for everybody.
But yeah, I mean, it'd be fucking cool if it did.
I always like when underdog succeed,
not that pudgies are quite an underdog.
I get 20 eth all the time.
It feels like a lot of holders still
have the chip on their shoulder like they're the underdog,
which is a little bit counter-narrative,
because the reality is everyone's been rooting on the pudgy
pewins for like a year and a half now.
Basically, Luca's been universally loved and respected.
Definitely not an underdog.
Yeah, so not quite an underdog.
I think personally, I'm rooting for board apes to go up.
I'm rooting for the pings to go up as well.
I think for either of these to go to the next level,
we probably need to see punks get closer to 100.
So I think we've got to root for that to happen as well.
But it's fun to at least be having this conversation
because numbers are going the right way again.
Well, Otropo, this has been an awesome conversation.
Feel free to stick around.
We're going to talk about some other trending topics
But before we do that, let's read the news.
Today's top headline is powered by LuckyTrader.
Training volume spiked to $43 million on Ethan Thursday
and the biggest trading day in several months.
Most of the leaderboard, though, very red.
After several days of green, pudgy penguins
did lead top volume on ETH, but retraced to 17.5.
Quarklings led top movers up 72%.
On those pudgy penguins, part of that volume, three gold skin
pudgies were swept at 50 ETH each,
bringing the rare skinned floor up to 76.
Over on Bitcoin, we saw pizza ninjas lead that action.
The floor got to about 0.12.
It was at 0.09 Bitcoin this morning,
And thank you, X sold out his terrains collection
on Bitcoin at 0.045 with that floor briefly spiking
to 0.075 back around 0.05, 0.06 this morning.
Over on Solana, CryptoUndes did lead volume.
They revealed, though, fell 40% to a 7 soul floor.
It might be under 7 now in a pretty underwhelming result.
At the same time, new met Sujiko Warriors,
a bit overlooked in the undead hype
and tied to that Solana NFT purpose protocol,
minted out at five soul, jumped 60% to eight soul overnight.
We saw Trump, Trump's back, the digital trading cards
are going to make their debut on Bitcoin
as a part of the recent mugshot edition.
200 ordinals will be created, only 99 left to purchase.
And then friends of the show, our partner Wasabi
rolled out first week of season two points
and a new leaderboard highlighting traders volume,
their P&L and points accumulated.
In web three and crypto news,
crypto majors are down again this morning.
Bitcoin down 2.5%, 41,300.
ETH down 1% at 2480, sold down 4% at 9440.
We saw new IDO token SADM do a 100X to $250 million
I did not get the ping on that one.
I totally missed that 100X.
And then we saw WorldCoin and friends with benefits
are partnering for the paradox of personhood
at Mexico City's Faria material,
exploring human identity in the AI area.
Well, those are the headlines.
I think we have to start with the undeads reveal.
Trouble, maybe I'll go to you first.
Did you trade any of the crypto undeads?
Have you seen the reveal?
No, I don't trade anything anymore.
I'm like so scared to spend any money.
And of course I got like a fucking floor as always,
I think like, are we talking about the art?
Yeah, anything that you want.
Does anybody like really care about the art?
it was just such a big controversy
that like it's unrevealed up to mint and like,
does anybody really care about that?
Like I think people want to see the art
because it affects how they speculate about the token,
but they don't actually care about the art.
The art is important because it helps us
craft the narrative about why
that the number is doing what it's doing.
It deserves to go up or down.
therefore the art would have been good.
It's, I don't fucking know.
I'm just gonna hold it to zero or whatever,
whatever happens, happens.
It might be speed running to zero sadly,
based on this last day of price action.
So let's talk about that a little bit.
So I think over on Solano,
we're still seeing more of the 10,000 supply.
we are seeing some different supply counts.
So pizza ninjas, 1500 supply.
We saw, I think these quantum cats are gonna be 33, 33.
So folks are kind of starting to buck the 10K trend.
Node monkeys did do the 10K.
I think there's a point where the number is too low,
where I don't know that you can get like the mass needed
for like really the community movement
or a community to really rally behind.
Do you have thoughts on what that number might be?
there can be too low would be like,
I feel like too low would be like a hundred,
but I feel like 500 can be okay,
It's not quite, there's still a little,
you know, that psychology about like,
it's not five figures, basically is.
Yeah, I don't, I would not have any clue
Yeah, I have no insight nor ability to determine that.
I think if they had like 4,000 would have been good.
4,000, they just did way too many.
Yeah, there's a bit to unpack here.
I think another problem that I personally had
and I had four pre-sale spots on this.
Is that known as dollar, he came out and said
it was going to, they were gonna do something different
It was going to unfold differently than people expected.
And then it was just a standard middle
fastball down the middle reveal.
It was the same reveal that we've seen
every other collection ever do.
So, I mean, I think folks have been looking,
actively looking for reasons to fud.
All the marketing hype ahead of the game,
I mean, you can hate on that,
but it led to the sellout,
it led to the hyped price action.
I don't really have a problem with that.
But lying about how the reveal is gonna go,
I think it is a bit of a mistake there.
So I didn't love that move.
Kane, your hand popped up.
I'm curious if you've got thoughts
on this like 10K supply conversation or anything else.
Yeah, I have quite a bit of number of thoughts.
I mean, I was privy to a lot of sort of insight
into how things were going down,
especially when they were having problems
with some of the early whitelist folks
not getting their ear drop.
And there are a couple of things.
I think the first thing is in my mind,
like I keep saying Solana is quite different
and there is an affinity for utility tokens.
There's an affinity for NFTs type of products.
I have no idea what crypto undeads is
or what they're trying to do.
it just wasn't anything that,
yeah, there was a lot of hype,
a lot of interests, right?
Some interesting parties involved,
but they were not necessarily like Solana people.
That was the first thing.
And two, with the lack of clarity
as to what you were getting long-term,
it just felt like, okay, this is gonna be a big hype.
It's gonna pump, it's gonna dump.
Maybe they create value down the line,
but I don't know, it sounds really risky.
The other thing too, in general,
when you look at a lot of the product-led drops of recent,
Flash did a 555 drop, Sujiko did a 444, right?
In fact, Sujiko actually was gonna do a larger drop,
but they reduced their supply quite a bit
by asking and engaging the community
who had the presale tickets, right?
So Sujiko did like a 222 presale a few months back,
built a community around it.
And so for me, when I start thinking about,
okay, who are the devs, what are they connected to?
And I think if you're doing a little bit of research,
like the devs on Solana are all connected, right?
There's a very, very strong
like collaborative community across products.
I think some of it is because they were like,
almost like the last dev standing
when lots of projects left
or basically lost their money through FTX.
And so those are the things that I tend to look for.
And typically when I see a builder coming from Ethereum
and they're sort of leveraging Ethereum tactics
like hype, 10Ks, no clarity,
I automatically just turn off.
Because for me, if you're gonna scale in the ecosystem
and you're not connected to that core ethos
it just feels to me that it's just more risky.
And that's just my take on that overall.
Yeah, and I think that's playing out.
And if you can't tap into the Solana buyer pool,
your project's not gonna do well.
And on the connected builder's point,
that actually jumped out to me about Sujiko Warriors.
It wasn't on my radar before yesterday.
I started doing a little bit of research,
saw that it was tied to the protocol.
The founder is very well liked.
He built that airdrop tracker tool
that helped a lot of folks out.
Over on Tensor, you get a 25% bonus
for trading this and market making this right now.
And it's been featured on the Tensor landing page
for the entire last day and undead is not.
It's just a tale of two cities type situation.
And it's the Solana natives helping each other out.
And I mean, that does matter.
I mean, part of the reason why I even found this mint
yesterday was because it was featured
So I think that is an interesting, interesting trend.
I can get a little bit more.
Yeah, that was a quick follow up.
Yeah, so, I mean, I tweeted about this
actually a few weeks ago and I telegraphed it, right?
And I remember like maybe a few spaces ago,
I was like, okay, it's mad lads, Tensorians,
and I think I know the number three.
And the reason why I said that was
with a little bit of research,
you realize that Zay, who's the founder of Sujiko,
his mentor was one of the founders of Tensor.
And they went through the accelerator,
they won one of the accelerators, they won some award.
And you're seeing all these linkages and connections, right?
And yesterday someone put out a tweet
of all the builders in Solana
and all the comments that are made about Jay,
I mean, like 1% dev, like all these like,
and so for me, it's like, those are the things that say,
okay, the community is signaling that this guy
or this dev is based, right?
You look at the Solana airdrop checker, right?
They have over 13 million wallets indexed,
they have over 2000 subscribers paying
to subscribe to the platform
so they can have like, you know, hundreds of wallets
and you can kind of optimize it, right?
All those things kind of say, okay,
this guy knows how to build, this guy is connected,
and he has a track record of actually executing, right?
And for me, that is massive derisking, right?
So it doesn't mean Sujiko isn't still risky,
but like, those are all like the check boxes that say,
all right, if someone has a good chance
of actually like executing and doing well,
it's someone who has proven that he can build things,
proven that he is part of the network
and all that information is out there
if people sort of spend the time to dig in.
No, and I think it kind of goes to one of the trends
I'm noticing in the last few months
in this line of the ecosystem,
it's less about brand, IP collectibles,
it's more about the utility, you know,
who is the team, who are the builders
behind this NFT collection and what else are they doing?
And I think that is a pretty noticeable difference.
It's definitely a noticeable difference
from what's happening over on Bitcoin.
So you said you're kind of washed up,
So have you chased anything in the ordinal?
Do you have any Bitcoin NFTs?
I've been in there since like,
You were trading, okay, give us the origin story.
So CT, you know, she used to be on this show,
very close friend of the show.
She had a very nice trade on ordinal punk.
I think you were also in ordinal punks.
So maybe give us that story.
Yeah, yeah, I just, I honestly forget how I found out
about it, but there was this YouTube video from Casey,
the guy who developed ordinals
and it was a recording of a meeting,
like this Bitcoin meeting.
It looked like it was in like a conference room
of like a Holiday Inn or something.
And he was just presenting about ordinal theory
and inscriptions and whatnot.
And I was like, oh, it was like a Friday evening
when people would typically be doing fun, cool stuff.
My family was like out of town.
So I'm like, I'm gonna watch this hour long video.
It was like 9.30 on a Friday night.
But I was just like compelled.
I was like, this seems cool.
Like, you know, I had that curiosity that
I think a lot of people felt when they first got
into ETH NFTs, it was like, it's different.
It's hard, it's confusing.
There was a potential for financial gain,
like the speculation aspect takes over.
But also it's like, I had more of an interest
from the NFT perspective.
Like what is this doing differently than other NFTs
that I think could be, it could be doing better.
So just learning in that and actually going
through the inscription process and like setting up a node
was very fun for me, because I never done that.
But yeah, I ended up buying an ordinal punk,
which was Greg's was like number 600 in some inscription.
And like the community was just really cool.
I think that's why I really vibed with it.
It was just chill and like kind of exclusive,
And a lot of smart people know that,
that helped me expand my knowledge of ordinals.
But I did end up selling that in April, maybe.
Cause I was like, dude, I like didn't have a job.
Like trading was going down.
I was like, I gotta, I gotta, I gotta make some money here.
I mean, it wasn't that dire, but like, you know.
And to refresh our listeners base,
you were making these trades like on Excel spreadsheets.
Yeah, you'd go to the Discord and you'd be like,
And then you would ping the founder
and he would consult the spreadsheet
and you know, escrow the deal.
And then you'd tip them a little bit for a service.
And that is a very cool like foundation story.
And I thought the valuations were crazy at the time,
but I also would not be shocked if in like three years
or even in this next round, if ordinal punks
are 10 Bitcoin plus, it wouldn't surprise me in any way
just cause of the provenance they've got.
But taking us from there trouble.
So have you been, have been following any
of the recent projects that have been dropping?
Oh yeah, yeah, yeah, for sure.
Nice, so are you involved
or have you been trading any of these?
No, again, like I said, I'm washed.
I don't actually like have any financial stake,
So I've been busy with that in the space,
that I think should be announced sometime soon.
I don't know how fancy, but it's like I'm getting some,
I'm getting some arts commission forward
for my post, which is really cool.
We're happy to hear you're employed.
Yeah, no, it's been really good, dude.
Once you, once you know who it is,
you'll be like, damn, fucking good for that guy.
When are we gonna get the news?
I'm not interested in like doing it anytime soon.
I'm still trying to like prove my value in the company
before I like make a big deal out of it.
Cause now if I'm like, it's not, I can say face,
but being like, oh, we had to let trouble go,
but like, once it gets announced and it's like,
Yeah, a little bit of a hedge there.
Well, I certainly, I certainly respect that.
No, you know, you know quite well, the company.
Well, now my, the wheels are turning here.
At 9.30 PM tonight, I'm gonna have to sit down
and really go through, go down the rabbit hole
of what I think this could be.
Logie, we got five minutes.
Logie, we got five minutes left.
What stories from yesterday have we not talked about?
What jumped out to you from the day
or anything else for Tropa?
I think we hit the big ones.
Yesterday was kind of slower.
So nothing, nothing too crazy.
We didn't have the pizza ninjas mint,
We were talking about ordinals here.
Three X is retraced a little bit,
but I didn't see, I didn't see many of them on my timeline.
And this is one of those things
we were talking about earlier, Tyler,
about how some of the new hype projects would challenge
something like node monkeys and beyond.
It doesn't seem like too much of an impact
Of course, quantum cats would be the bigger challenge.
That's another, so there's 1500 of these.
So it's such an interesting aspect
of all these projects still launching as PFPs.
And the reality is it's still just the same
10,000 of us or 20,000 of us who are showing up.
And we all have PFPs already.
We had saying, well, you can't measure a project's success
if you don't see the PFPs popping up all over the timeline.
That's getting near impossible to pull off right now,
like to actually get any mass of people
rocking a new project's PFP.
But it's like this PFP trend is not going away.
And like, if I had to bet,
like, is it gonna be a foundational aspect
I think it is, absolutely.
Which I think at one point we thought
But I mean, Troppo, any thoughts on that from your side?
Like, do you think projects had any real shot
at like really converting PFP on Twitter usage here
Yeah, I think so, of course.
Yeah, I mean, I think Opepin was probably the last one,
I think that really did that.
So yeah, it could happen.
Still possible, but not easy to pull off.
No, no, I mean, it is definitely not easy to pull off.
And it's like, you know, with Opepin,
and it's such an iconic figure that it's easy to see
that as a PFP, especially with the different versions of it.
But I don't know, I will say it's unlikely,
but yeah, why not, it's possible.
Have you dabbled any of the Jack Butcher ecosystem
I went to the installation at Art Basel,
No, I don't actually trade,
I'm big time larping for the past like year and a half.
If you look at my wallet,
it's only outs in my wallet, only out.
Well, you did enough trading in 2021, 2022, I'm sure,
Tax software like just doesn't work.
Like I had to email them and they're like,
yeah, there's too many transactions.
What are you talking about?
Yes, and now across all these blockchains,
like it's gonna be just an absolute nightmare.
Oh God, I'm going to jail for sure.
Yeah, we just have to hope that, you know,
the powers that be their software is worse than ours.
I don't know, dude, I don't know.
I was like talking to somebody, he's like,
he's like, yeah, they know, they know.
Yeah, I wouldn't have been against that.
If you like made some transactions, they'll know.
I'm like, oh, that's great to hear.
But yeah, not the derail, but I do my best.
Well, the Trump NFT team also trying to do their best here.
A bit of a Hail Mary launch.
So we're not selling out these mug shots.
So let's put some on Bitcoin.
No, it was an interesting move.
I mean, definitely caught some headlines.
We saw all the ordinals leaders talking about it.
I actually haven't checked to see.
This is the next 12 fold in my opinion.
Excuse me, on the art leaderboard on Magic Eden here
a month from now, it's going to be 12 fold.
And then the Trump digital trading cards mug shot edition.
So that might be the note we need to end the show on here
This has been just absolutely fantastic.
Thank you so much for joining us.
Awesome. Thank you for reading.
Thank you for your review there.
And we wish you the best of luck with this new position.
We're excited to hear what that is.
I'll try not to fuck it up.
Well folks, thanks for sticking around.
This was a fun Friday show.
Before we leave, what's minting today?
We got memes by 6529 that just started.
Alien Queen choose freedom today at noon.
Kevin Abash Revolutes at 12 PM Eastern
and then OX Phil Cloud patina at 1 PM.
It's a slower day of drops after a busy week.
I think the highlights today is likely
that Kevin Abash mint Revolutes over on Bitcoin.
It is his first ever Ordinals collection.
The theme is that the revolution will be televised.
It features people with old style televisions or heads.
It's not going to be cheap.
Price is 0.03 Bitcoin 500 NFTs each.
So I think this is going to test the appetite for art
on Bitcoin from a major name.
So that's going to be one to watch if you're interested.
We'll be back on Monday and today in Eastern.
Thanks to our listeners for tuning in.
Thanks to Troppo for coming on.
Being a fantastic guest here this morning.
Everyone enjoy your Friday.
Let's make it a great day.