Arbitrum updates, Nifty Island is coming and more - The Daily Gwei Refuel #294 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel worry cap the latest news in the ethereum ecosystem i'm your host anthony desano and today's the 17th of january 2022 all right everyone let's get into it so eath had its first deflationary week i believe so 100 issuance offset as you can see in the ultrasound money screenshot here which means that we offseted all of the issuance from mining with uh eth burning whoa that's crazy that's really really crazy i mean you know i remember like people talking about ip1559 before it went live and saying oh you know we're not going to really have a deflationary period until the merge happens because it's just too much issuance from mining and then we started having you know deflationary hours deflationary days and now we've had a full deflationary week which i

believe it is the first deflationary week maybe i'm wrong here maybe there was another one but um i don't remember it but maybe i'm misremembering that but still it's super crazy i mean we burned over a hundred thousand eight in the last seven days which is what three 300 current prices i think that's a 360 million dollars or something like that which averages out to about 51 million dollars per day over the last seven days of eighth being burned that's just absolutely crazy like the fact that i mean when you really kind of like contextualize those numbers i mean if we kept that up which i don't think we're going to keep that up obviously you know for the next few weeks it kind of like it's volatile right it comes and goes but the thing is we are burning billions of dollars worth of kind of like eighth a

month right um which is absolutely just crazy and i think that right now the price is in kind of like this position where i think what's happening is that like we're not really having any new people coming to the ecosystem at least not in into kind of like the um i guess like speculative ecosystem outside of nft so i think a lot of new people are coming in through nfts and stuff like that but they're more so kind of like investing in nfts and not investing in you know eve btc other kind of like assets out there and the assets that you do see having kind of like great performance i think it's just people rotating from other things so i was thinking about this today and i'm like okay well what's it gonna take for like eats price to kind of like go up from here i think

that it's just a time thing right because when you think about it we're still continuously burning this you know this incredible amount of eth and the ethereum network basically acts as a demand kind of like driver it's basically buying 51 million dollars worth of ether day over the last seven days and not just buying it but permanently burning it which means that it's essentially the same thing as like uri buying that much each and just locking it up and never selling it but i mean there's an even stronger guarantee here because it's verifiably burnt it cannot be sold or cannot be put back into the market ever again now what happens when there's you know new people start coming in again people start buying anything kind of like droves again and we have like that natural kind of i guess um kind of like bid on eath instead of kind

of like these these other things i think eats price can move very very quickly and can get re-rated very quickly now i think this is going to happen leading up to the merge i really do believe that that's going to be an absolutely massive catalyst for people to kind of like just rotate back into to eat and it's not just the rotators but a lot of people who kind of like realize uh that massive issue introduction is coming with the merge and the fact that we've had you know one five five nine burning all this eth but i really do think that um each price can move very very quickly in that scenario because of the fact that we've taken so much of the supply already off the market with one five five nine with um a locked in d5 with staking as well and

the price in the short to medium term is going to do what it's going to do but i think you know if you kind of like uh you know wait it out over the long term it's going to explode you know if you actually go back and kind of like look at the way um prices move for different kind of crypto assets they tend to do a lot of their positive price movement in a really short period of time and then they'll have like long cooling off periods whether that's kind of like continuously going down or just going sideway relatively sideways for a while they'll just you know and those kind of like things if it kind of like goes sideways for a while and then breaks back up again it's called a called basically a distribution zone where or kind of like a reaccumulation zone where essentially

you have the people kind of like um the other people selling that kind of like are taking profits or just kind of like get bored with the asset and then eventually it hits a point where it just starts going up again and then you know the perfect example of this is something like 2019 where each range from one to 300 for most of the year and then we got into 2020 and the price started going up and obviously came back down with march but then went back up again and eth finally broke out of that kind of like range properly i think in july or august or something so you can think about it for like a year and a half eth was in this this kind of like range and then when it broke up it broke up very violently you know from mid 2020 to mid 2021 or even i

think even less than that eighth went from 300 bucks to four and a half thousand dollars almost 100 000 so you can see how the positive price movement happens very very quickly after that sideways kind of like uh um range is kind of like broken there i think the same thing's happening right now with eath it's kind of like you know just crabbing as i like to call it and i think eventually you know we break out again and we kind of go to new hires go to 10k and beyond very easily uh and all these kind of like stuff like one five five nine staking all that stuff is additive to this so yeah anyway i know i'm preaching to the choir here but just a bit of commentary on what i've been thinking about lately because i know a lot of people kind of like say oh ethan

btc are so boring to hold because they're just not doing anything and look at all these other things doing things and like that's totally fair i mean there's always going to be a marketing crypto that's doing something right whether that be a d file d5 2.0 or some ponzi or maybe nfts or some social token thing there's always going to be stuff that happens but as i've said to you guys before i would never put 100 of my portfolio into any of those things you know if i'm going to gamble and play around with them i'll put a small part of it into it but i've got my perma-8 stack that i'm just kind of like never selling and it's just sitting there well not sitting there it's most of it's staking of course but um uh you know and then i stack more youth to

kind of like get more validates which i'm sure a lot of you guys are trying to do as well but anyway gonna leave it at that got a few upgrade updates to get through around uh i actually know a couple around kind of like ethereum called protocol uh development firstly um the update around the merge so here's a picture of uh go ethereum lighthouse and a lighthouse consuki node with five validators running on the same raspberry pi this is cool i mean this is an ethereum full node um and a lighthouse full node running on a raspberry pi from what i can kind of see here um testing kind of the um the merge now ethereum on arm this twitter account is a great follow they do a lot of stuff with kind of like low power low powered devices like the raspberry pi and running these sorts of

things and this really kind of like is putting to bed the fud around the fact that oh you need like super beefy hardware to run ethereum kind of like um nodes and validators you don't you know the funny thing is is that the bitcoin maximalist always went on about this with ethereum like oh you need like super expensive hybrid you can't run an ethereum full node on a consumer pc or laptop or anything like that i mean when in reality you could and i did it a lot of people i know did it and then you know it was just objectively false and then you have some of these other chains that where it's literally literally true for them where you can't actually run right on a consumer kind of like pc you have to have like some super beefy hardware in a data center or something

like that and it's just funny how kind of like the bitcoin maximus would criticize ethereum for it um but then they seem to be embracing these other chains i don't know it's just a weird thing there but really cool to see this from ethereum on arm here uh and uh basically a another kind of like site that i wanted to highlight for you guys which has got to do with client diversity is from ryan berkman's here he's created a site called slash dot info which basically shows uh how much extra if you lose by running a majority client during a worst case slashing event so tldr is that you'll lose five times more eth on prism versus nimbus so you can see the website here i'm gonna like see how it's highlighting everything so i mean i think this number is a bit high on prism here 72.8 percent

it was 67 or 68 from michael sprouse analysis but i guess like it's not too much of a difference there but the point is is that uh during kind of like a worst-case slashing event i guess like that would be kind of like a network-wide slashing event if you're running the majority client you're going to lose more money than running one of the minority clients it's just that's how the protocol works so again this is another reason to switch from prism to something else or always switch from the majority client to a minority client um because you stand to lose in case of that one of those kind of like slashing those major slashing events and i went through kind of like last week about the different things got to do with client diversity and how it's really important um and i think there's progress being

made on contacting big kind of like staking parties like centralized exchanges and stuff like that in order to get them to switch but uh yeah this is gonna be an effort guys like i know even if you tell people this they're gonna a lot of people are gonna be like oh okay well you know i don't think there's gonna be a mass slashing event so i'm not gonna bother or worry too much i do think post merge sorry i should not say post merge i should say post withdrawals being enabled after the merge we're going to see a better distribution just generally because people will be able to much easier kind of like exit and then re-enter without having to risk uh basically getting slashed or anything like that by double signing and uh you know i i i'm gonna be curious to see how that plays out but this is

how it exists today guys like if you if there's a mass slashing event and you're on prism you're going to lose a a very uh a a large chunk of your kind of like 8 compared to someone else so definitely something to keep in mind here so arbitrary has been having a really big last few weeks and i've been talking about them lately on the refill a lot but they crossed over three billion dollars locked uh today on their network that's crazy this is just one l2 on ethereum crossing over three billion dollars locked all together we have i think the l2s right now over six billion dollars locked uh which is kind of like better than some of the the alt-r ones out there and this is without native token incentives for most of these things especially on arbitrary there's no native token incentives i know that

dopex has been doing a lot of great stuff on arbitrage i think they account for a large chunk of this tvl and then you have um things like magic and treasure nft that i spoke about but um the fact that arbitrary is growing so so organically without token incentives is really bullish to me like i know i go on about the fact that eventually these things are going to need tokens for both incentives and kind of like growing community and decentralizing and that sort of stuff but i've also said that the longer they can go without doing tokens while maintaining steady growth probably the better um and again you know it gives them time to focus and not have to rush out a token and kind of like focus on on building this stuff out properly uh but i still expect as i said like most of

these things to have tokens the first half of this year if i'm wrong there i still expect it to happen sometime this year but we'll have to see you know i'll have to see if they think it's necessary it may not be it may be that there's so much demand for these networks because they're so much cheaper than l1 that uh these uh these networks don't actually need native token incentives they can just have the projects do the token incentives to get people to come across as well or people just naturally come across because it's cheaper for them to to do stuff on there so very very cool to see this um and again another update with arbitrom is that binance now has withdrawals to the arbitration one network enabled so i mentioned this i think a couple months ago or a month ago where they said where they enabled

deposits but not withdrawals now you can withdraw to arbitrary now i can't remember if i oh yeah i think i know i did cover this last week but this was the official tweet tweet from arbitration i did cover this i think david mihal tweeted about this but uh yeah i mean there's an official guide now from arbitrary here that you can use as well and i think i discussed last week about the costs as well like that i think it was ten dollars to bridge in or something like that and how exchangers could subsidize that i think one major thing exchangers can do to subsidize those costs is that they could actually liquidity provide for these bridges like hop and connects and all these other bridges out there and kind of like make up the difference there in in trading fees on their exchange with uh the fear especially the

fiat pairs because obviously exchanges over time are going to lose a lot of their volume to decentralized exchanges but i think this you can't really do decentralized fiat trading and that's very very difficult and if you try to do that with any without any form of kyc you open yourselves up to kind of like very strict regulatory um punishment there so yeah anyway i i do remember that i covered this last week but again just start shouting out the kind of like guide here from arbitrary themselves uh polynomial shed a a reddit uh thread basically uh it's titled exploring the ecosystem too defy on the arbitram roll-up so you can go check this out and you can kind of like see all the projects that are live on arbitrary

today that have got to do with d5 there's a fair few now like look at that that's a that's a pretty healthy ecosystem there still no popular money market yet like arvif right like we're still waiting on that as i've said i think other v3 is very close to being done so they want to kind of like get on there but there are other options for you right now like you can see i mean there are other kind of like money markets and stuff like that but nothing like rv or compound or maker um uh but yeah i'm sure ave is going to be live soon there but definitely go check out this reddit post i'll link in the youtube description to see what you can do on on arbitrary and there's also a list of bridges as well like look at look how many bridges there are guys like i

remember i i've been speaking about bridges for a while now and i remember there was only like a handful of them now there's so many like look sign amps across any swap uh seller connects hop renbridge orbitar lee.fine i mean there's so many out there there's gonna be more as we go on i think it's because people realize that the bridge space is incredibly lucrative or will be incredibly lucrative because there's gonna be a lot of volume that flows through these bridges and a lot of um a lot of money to be made there so really cool to see that um and rari capital announced that they will be bringing fuse their fuse money market uh to arbitrary very soon so this is very cool as i said like there's no big money markets just yet but with ave going live and and rari capital's fuse

going live as well uh that's going to be really cool to see how that plays out too so very big last few days for arbitrary really cool to see all the growth that's been happening of them for them there so speaking of bridges connext has abridged a billion dollars worth of volume in just i think uh a year over their cross chain network now this is going to be a lot faster from here i think i think it was a slow burn at first because they're you know a year ago there wasn't really much of a reason for most people to kind of like bridge to other chains or bridge between l2s i mean most of these l2s weren't live you really a year ago the only thing you were bridging to was bsc i believe and that was just kind of like at the very

beginnings of that now you bridge to all these other one i'll tell ones you bridge to these side chains you bridge to the l2s there's so many things to bridge to in and out of uh and these kind of like things are becoming incredibly these i'm sorry these bridges are becoming incredibly important so i think the next billion for connects is going to be much faster than the previous billion you know and it's going to get to a point where these bridges are going to be doing potentially billions of dollars of volume a day right uh across aggregate probably and then eventually tens of billions and i mean as i said like i've been very very bullish on these brit on these bridges and cross chain swapping protocols uh uh for obvious reasons but i think that um it did take a while to get here because there actually needed

to be things to bridge in and out of but now that that's here it's going to be exponential growth from from here i believe so polygon uh put together a little thread on some updates about polygon maiden uh so what's been happening there so they've been having some advancements with new features in the upcoming version of modern vm uh you can see here and you can go here there's a hackmd page to learn more about it this is uh very low level stuff it's definitely not high level kind of like user facing stuff but i think it's cool that they're actually giving updates like this because at the end of the day as i said before a lot of these zk stuff is very in the weeds end users are really only going to get the benefit out of them once these things are live and have apps

on them some you know sort of like what stocknet's doing uh whereas these sorts of things are good to put out there to kind of like get more developers involved with it as well because obviously the developers make the make the ecosystem and we need to get developers up to speed on on these ck technologies so they can kind of better uh take advantage of it and kind of like better build uh their apps on here because obviously it's very easy for them to port their existing apps to like evm compatible roll ups and and l1 and evm equivalent uh l1s and rollups as well but the zk stuff until we have like a zkvm and even then it may prove more difficult so getting these developers up to speed is is definitely the priority here so cool to see these update this mini update update thread from polygon

midan so speaking of polygon heath global announced that uh there's a kind of like i guess initiative called the road to web 3 happening from feb 3rd to feb 8 which is powered by polygon so if you join this you'll be joining to build your first web 3 application win thousands in prizes meet new friends from around the world and learn from the best so you can apply now at web3.ethglobal.com if you're an aspiring kind of developer want to get involved with the web 3 polygon ethereum ecosystems i couldn't think of a better thing than this i mean as i've said to you guys before i've judged a fair few eighth global kind of like hackathons these global's been around for quite a while they probably run the best hackathons uh out of the entire industry to be honest i can't think of anyone else that runs better

hackathons than eath global i mean there is eth denver which i don't think is an eth global thing anymore i think they spun out of it uh or at least have never been an eighth global thing and that's obviously a very big in person in person a hackathon but if global specializes in online hackathons and they do really well there because it i think the online ones are more inclusive because the in-person ones you have to be able to get there right you have to fly there unless someone sponsors you it's kind of hard if you're a you know if you're if you're in a kind of like a third world country or or you're kind of like um can't afford to go uh whereas the online stuff you only need your existing kind of like hardware to play around with that like a lot of people already have

like a laptop or somewhere they can access a pc or even a even a phone like i'm sure there's some people out there that really want to develop things but they only have a mobile phone and then they use their phone to kind of like get started with this sort of stuff it'd be a lot harder to do that but i'm sure there's some people out there doing this or learning kind of like how to do this so so yeah if you're if you're interested in this definitely go to web3.ethglobal.com to check this out so we have an update from nifty island their closed alpha begins 17th of february 2022 which is a month from today so i'm very much looking forward to this uh i've been talking about nifty island for quite a while i am not an investor in them or anything but i do hold a few

of their kind of like items i hold the neon palm which was gifted to me i have the um i have the neon pistols and i also have the physical sword which is behind me but you can't see it it's like over there uh the physical are kind of like nifty swords so i'm like fully invested in their ecosystem and i'm very much looking forward to uh for their closed alpha to go live i can't wait to build up my own little island and just kind of like have everything there i want to see if i can have some like figurines there and things like that have my neon palm and have somewhere for people to kind of like join me in the metaverse essentially right and like maybe have some deadly gray meetups there and and maybe we have the ama there which ama is

coming back by the way guys i just still do not have proper home internet so i don't want to do the ama and then maintenance just keep cutting out and just ruin the whole thing so hopefully sometime this week if not next week but i'll keep you guys up to date on that one um but yeah you can go watch the cinematic trailer here the sound's not on obviously but i'm just letting it run in the background i'll link this in the youtube description just very much looking forward to this i think the metaverse stuff right now still very very early but these things like nifty island and other kind of like products out there i like the stepping stones to get us to a place where you know we actually do spend time in the metaverse and build stuff and have cool products and services in there

get together with our friends all that sort of stuff right and especially uh things that are not owned by facebook that are community owned like i have no interest in being a part of zuck's metaverse like at all like i can't think of anything worse to be honest so definitely not gonna i'm not gonna be participating in that but i will be checking out all the web three crypto um metaverse kind of like games and stuff out there i know there's a few that exist already but as i said all this is very very early stage but we're going to get to a stage where it you know as i said it's going to become like a commonplace thing for people to kind of like go in and join in and kind of like the meadows join their friends have meetups and things like that and it's

going to be super exciting there and you know the funny thing is on the topic of the metaverse stuff there's been a lot of cringe stuff lately like walmart announced that you'd be able to shop in the metaverse or like there was some grocery chain that i think did it as well or something like that i saw a video um about it i do believe it was walmart and i looked at that and i'm just like this is so uh this is so corporate like i don't wanna like i'm not gonna go in there in any kind of like at the walmart metaverse just to do some bloody to do some online shopping i i don't see the point in doing that right like maybe you can kind of like i guess physically measure the um the the size of certain products you're buying and things like that and maybe it

gives you a bit better of an experience especially with things like furniture i can see that maybe but grocery shopping i don't need to walk through a store in like with my virtual reality kind of like um headset on to pick out items like if i'm going to do online grocery shopping i'm just going to go through a list and pick out what i want i don't need to kind of like physically hold the item in my hand or not even physically like virtually hold the item in my hand to decide what i want but that's just me i don't know how it is for you guys and maybe the younger generation because they don't kind of like they spend so much time online so much time inside inside they probably will use that as kind of like a way to have some sense of

normalcy and kind of be like oh i'm at a grocery store but you're not really but you are kind of thing i don't know how the future is going to shake out there but i can see that kind of becoming a thing but i think that with with the metaverse as with all things crypto related it has to be a bottoms-up approach top-down approaches just don't work in crypto uh at least in web 3. i think top-down approaches work for institutions that don't try to be decentralized or try to act like they're decentralized so things like centralized exchanges it works very well for them but i think if you're trying to be a decentralized community-owned project then a top-down approach is just not going to work and what i mean by this is like a top-down approach is essentially a traditional hierarchy where you have

like a ceo and you have like executives and you have all the report the direct reports and things like that managers and all those sorts of things bottoms up it's kind of like a flat org where you don't have a ceo you do have some semblance of leadership right because obviously if there's no leadership then there's a leadership void and that usually gets filled by people that shouldn't even be in positions of leadership or it doesn't get filled at all and everyone's just like kind of running around with their head chopped off essentially um but essentially a bottoms-up approach is all these kind of like things happening um no one telling you what kind of like what to do no one i mean you do have like a kind of like soft road map of things you want to build but you don't have kind of like

this micro management going on you don't have ceos and executives and all that sort of stuff it's really kind of like a grassroots movement um by people for the people sort of thing so i think if you're trying to be a truly decentralized web 3 crypto product you have to do it that way i don't think top-down approaches work at least they there are some times that it can work but i think for the most part it's just not going to work and you'll get forked as well if you feel too corporate as we've seen before people will fork your project and basically say hey we're forking it we're giving most of the kind of like ownership away to the community because you guys are too vc heavy or you guys are too insider heavy and i think that's going to happen more with metaverse projects than it

will with d5 projects because there's a sense of kind of like identity attached to metaverse projects and if you feel like your identity is stuck in like a corporate bizarro world that you don't want to be in then their switching costs of course are very low to go to another product but you might decide hey i'm going to fork this i'm going to make it less kind of like corporate and suits and i'm going to make it basically for the people by the people and then you might get some some kind of like traction there but yeah those are just my general thoughts on the metaverse i know everyone has their own thoughts on this these days and it's kind of like hard to tell where exactly it's going to go but i do think it's going to be a thing i do think there's going to be both top

and bottom top down approaching approach and bottoms-up approach i do think it's going to become corporate versus kind of like grassroots it's definitely going to become like facebook metaverse walmart metaverse versus kind of like web 3 native metaverse and i do think that the web 3 native stuff will win just like the open internet one but we have to be very careful there too because the open internet won but then we re-monopolized the internet but or at least we monopolized the internet uh around a few select kind of like apps right like the the big social media giants and and a few kind of like other ones out there whereas i think with web 3 we do have a definite opportunity to not do that and i'm hoping that we can kind of like keep it that way but we'll have to see how that all

shakes out there all right so final update from zappa so friday on friday zappa shipped their new collections page so this new feature gives you quick access to collection start stats such as floor price and a quick view of nfts you own within that collection and they're teasing more amazing nft features to come soon so you can see here they've got like a teaser uh or at least an image of kind of like the doodles nft collection here which are really awesome by the way i mean i didn't see them until they started kind of like uh blowing up and and then i saw them i was like oh like the floor was like i think it was like 10 8 or something when i saw them maybe i don't know i think it was like seven or eight and i'm like uh nah i'll be all right i'll be right for now

um because it just like got you know even it's too expensive for me and and then i kind of looked at them like these are really cool and i hadn't seen them before um and it's just funny how kind of like they came out they seem to have come out of nowhere but there was a big community behind them but anyway that's a bit of a tangent there uh just based on the screenshot that zappy has here but i think this is cool like i think they teased nft integrations a little while back um you know and which makes sense because zapp is trying to be kind of like your home for web 3 or the front page for web3 so for them to have nft support is pretty critical i think that once they do their kind of like mobile uh uh wallet app and things like that

that's gonna be really cool as well because you're gonna be able to have your nfts on your mobile phone there are obviously other kind of like apps out there that do this doing this already like uh rainbow and i'm sure arjun is gonna do that and um and then then kind of like some others as well but yeah i mean zap i mean i use zapper all the time like i mean you guys know i'm an investor in zapper as well but i before i was in the restaurants up right use them all the time because it's just such a great product uh i don't do much nft stuff but i still like seeing what i've got in my in my kind of like zappa portfolio it's a funny thing like that i don't do much nft stuff there i was talking to some friends about this today and about

how you remember how like i think it was last week or the week before i talked about you know d gens versus boomers and how i feel like i've become pretty boomer when it comes to crypto because i don't do the djing stuff anymore the nft stuff is a funny little area maybe i'll talk about this for i got about four minutes left maybe i'll talk about this the nft stuff's a funny area because you do have a lot of the degeneracy kind of going on in the nft ecosystem i mean i'm sure you guys saw that irene dao today where um this woman was selling kind of like her selfies as nfts and it went crazy she made she's made a lot of money off it so far but that you know there's kind of like that sort of stuff but then there's also

kind of like stuff that has long lasting power and communities form around it and they try to kind of like build products and services around it and projects around it um but for me when it comes to nft stuff it's just very hard to pick those winners right like it's very very hard to know what's going to be a flash in the pan versus what's going to be going to have long lasting value and i think the same is true for pretty much every sector but with nfts it becomes so pronounced because i think with with nfts people gonna get like very attached to their nfts and then they kind of like go down with the ship if the project or if the kind of like um the nfts the hype just wears off and you know th this has happened many times i think i i

think it happened like pretty brutally with uh at the end of the last nft mania with um i think it was mecca verse or something like that everyone went crazy over this kind of like profile picture collection and then i'm pretty sure they dumped very very hard um and like extremely hard uh after uh you know after mint and i kind of like after the initial mania wore off and this is true for a lot of these kind of like profile picture projects but there are some massive winners i think cool cats and board apes and crypto punks and doodles now there's just massive winners that have long lasting communities and people really enjoy collecting these things and getting together with people on discord or or anything else like that and kind of like collecting the rare ones and stuff so i do think some of these things

will have staying power but for me it's just so hard to pick and i'm sure you guys feel the same just so much going on the nft ecosystem it's just too hard and you know i'm a collector of things obviously as you guys see all around me you guys know i collect my figurines but that's a different kind of thing i'm not buying the figurines as an investment or kind of like as as they don't cost me you know i mean most of them don't cost like 10 eighth right it's just crazy amounts for these kind of like uh none of them cost 10 actually that's like over 30 grand um but it's just like crazy amounts of money for these things once they get very popular and that's why you see like so many of these things keep getting created because it was crypto punks and then

people got priced out of crypto punks very very quickly then board ace came along and people got priced out of that then there was like pudgy penguins and cool cats people get priced out of that and then you kind of like go down the list and people keep creating these profile picture nfts to appeal to kind of like new sets of people and new wealth levels but nfts obviously go far beyond that but that's when it starts getting even more kind of like out of my you know field of expertise i know nothing about art i wouldn't know what's you know good art from bad art and i don't know any of that sort of stuff um and then you kind of like have nfts like e s names and things like that which people do speculate on that's kind of a different thing it

hasn't really got to do with like art or kind of like um perfect picture nfts or anything like that it's just in ens names and then you have crypto gaming in general which is just exploding like play to earn all this sort of stuff no idea so i think it's a full-time job in of itself to kind of keep up with this sort of stuff to actually make money from it as well without getting lucky to actually kind of like play it strategically definitely very difficult and even the top nft kind of people in this ecosystem are inundated and probably looking for interns and things like that so just crazy when we think about it and it's crazy how nfts really only blew up over the last i would say last 12 months it really hasn't been much longer than that in terms of like really blowing up and

going mainstream and it's amazing to me that even if the general market is is quiet like even if ethan bitcoin are doing nothing the nft ecosystem is still going crazy so so yeah anyway just some of my thoughts on nfts there i'm at time now so that's going to be it for today thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone