Looks Rare Podcast’s Scaly Nelson, Debussy, & Punk Vandelay | Overpriced JPEGs Recap #20

Transcript

[Music] all right hello everyone gmgm welcome to a special weekly recap episode of not only overpriced jpegs but potentially also the looks rare pod i think to be determined if this is really a full crossover episode or or if you all are just joining me here today uh but i'm here with scaly debussy punk vandelay who are all a part of the looks rare podcast team welcome guys thanks for suggesting this and then also hopping on here thanks for having us good morning thanks for having us yeah good morning we've got lots of topics to get into here the the elon twitter news some of the the hot drops coming up when

i get y'all's thoughts uh before we fully kick off though i do have to give us a moment to give thanks and hear a word from our sponsors it's increasingly obvious that everything will become tokenized and nft marketplaces needs robust financial reporting performance analysis and the peace of mind that they are compliance ready gilded's nft ops is a one-stop financial reporting solution for growing nft platforms gilded has developed marketplace-specific modules to track the financial performance of nft creators including revenue tracking collection metrics royalty payments and revenue share customers of nfc ops gain full access to accounting tools and powerful apis for custom integrations that simplify operations streamline reporting and produce tax-ready data so

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metamask also has a fantastic mobile wallet which i use while i'm out and about and i use it to collect poaps nfts and use it for all my default things while i'm away from home if you haven't downloaded metamask you've got to try it out download metamask for desktop and mobile at metamaths.io or load up your ledger trezor keystone or lattice hardware wallets so that they too can get into web3 all right big news this morning elon musk has put in an offer to buy twitter he obviously has already purchased nine and eight nine point eight percent of the company was that right and now is trying to buy the rest of it uh thoughts scaley i think were you the one who was most excited about this or is it all of you yeah well my favorite part was the

uh price he offered it was 54.20 which was like you know 10 or 20 above the current market price but i don't think that was just a random price he came up with elon really is just the the like the the god of the twitter trolls like i i've got of the trolls i don't know i i've made this point here before that i do love this space for that uh um like when the gamestop thing was going down and you know all these people who were putting cell orders or like you know automatic cells on at it was like 4 20 69 and you're like these are people who are bringing down like big institutional hedge funds and then they have the like sense of humor of children and elon is just the the god of that

you have to love it though i mean come on i know i do i think it's hilarious uh do you see van thoughts so i think it's super bullish for um for for the crypto markets actually because if he does uh acquire twitter they might actually you know on board let's say ethereum or bitcoin or whatever cryptocurrency it is on twitter so hopefully it plays out well for us that's an interesting thought do you i worry he's like a little bit erratic on these things you know like he because he is such a troll he does seem to kind of like to play with the crypto market for sure you know like dogecoin one day we're gonna offer bitcoin you can buy tesla with bitcoin one day that's gone

the next day like he does seem to introduce a lot of volatility to these markets when he when he decides to play in them which you know he obviously is is a very serious person who's built these massive companies but that's why we love him and we love the crypto markets right [Laughter] van how about you yeah no i think his track record speaks for itself you know he he is a troll but you know he's continued to you know change our lives for the better and you know he's brought us electric cars you know and out in l.a he's digging holes underground to try to solve traffic sending satellites to provide internet you know to remote locations so i think you know ultimately he does provide a lot of value so

very interested to see you know where he takes twitter if if if he does in fact purchase the company one of you was saying that the the offer itself may be a little bit of a troll in that it's it's probably unlikely that it'll be accepted is that you scale yeah what i was yeah from what i was reading just briefly but it kind of makes sense right is uh what was the final number it was 50 something like uh 50 billion or something and well he's technically worth a lot more than that on paper yeah it's tied up in the tesla stock you have to borrow against that you know spacex it's kind of hard to value and so for him to really come up with that kind of funding

would strain even the richest man in the world and so it seems a little unlikely or i'd say quite unlikely that he's actually going to do this which makes me wonder is this all just a troll and then the kind of sad part is it said if he doesn't he said in his offer if he's not gonna if they don't accept he's gonna reconsider his ownership position and basically dump all his talks see that i feel like that's the sort of he's obviously a very serious business person but that kind of thing is like a little bit unnerving like i don't know how much twitter i don't know if he's passionate or serious enough about it to be the kind of i don't know ceo owner of it that he's been to tesla and these other companies uh

and i know that's sort of the point god i just had a thought he he's so smart right like we shouldn't just assume he's playing this at face value so what he did with tesla he wanted to sell a bunch of his shares right but if he just goes out and sells it everyone says oh you're dumping and you know the price goes down he came up with that whole elaborate that whole elaborate thing about taxes right and he got in that fight with the senator and said okay fine you want me to pay taxes i'll pay taxes i'll sell my stock to pay taxes and that was the narrative but that was not why he sold his stock and he sold a stock to sell a stock and then you know the price didn't dump so i wonder if he's creating this whole thing just so he can get a little bit

more narrative yes he's going to sell his stock but he's probably i don't want to own 10 percent of twitter anymore but he can't just dump it all so maybe this is like an elaborate narrative for why he can sell that's a fascinating theory i love that i also think twitter has been a you know an undervalued stock and not that i'm you know some great stock picker over here but if anybody follows scott galloway he's been on this train for a long time of like you had jack dorsey who was like a part-time ceo to the company you know because he's super focused on square or whatever in his other platforms and um and and scott makes this argument i think quite compellingly that twitter would be well served moving to a subscription model which of course we've seen them sort of start to do with the premium twitter

blue or whatever that's called um so i also think there's like a i think there's like a decent marketplace like it is probably an undervalued company because it's been kind of held down over the last few years by a not super present ceo and therefore not a lot of innovation or like smart business moves coming out of it so you know borrow the 50 billion buy it probably can a good opportunity to to drive the stock price up cover your other costs and yeah be able to get a little bit out of your uh your tesla position which is just huge at this point i like it i think that's an interesting theory all right i think that's enough stonk so maybe we should move on uh drifter shoots this is you know he dropped uh he had a recent drop you guys

know i think more than i do maybe on this utility adding piece that he uh that's been circulating did that that come from him i saw a lot of people being like art needs utility i don't know maybe can one of you break down what's going on here yeah sure i you know i think the idea was um you know drifter shots released uh open edition so he it was for 24 hours you can meant as many that's right you know many uh photo it was a it was a picture of him you know on top of i think it was a bridge overlooking the city so um the story behind it is that he had just you know been released so it was a big moment for him open editions usually don't go for 24 hours

so once you know everything was said and done you know there was a ton that were that were minted i think it was over ten thousand correct me if i'm wrong i thought it was like fifty seven hundred but you're you are tracking this close to that yeah let me look at it yeah it was about ten thousand it was about ten thousand and so yeah so so basically right after after the drop i don't know who started it but people started saying like hey so now what do we get you know we just bought this like what's in it for me and i think his response was kind of like excuse me like it's art it's a photograph and you bought it what are you talking about and then people started getting mad that he wasn't gonna offer utility in the future and then it brought up this whole you

know very interesting point right that if you're an artist in this space with all these games that have been played recently with these projects but you know can you just release an art in ft anymore are you allowed to just do that okay so that is what it was it was the utility because i was seeing chatter but i couldn't tell if he had said hey there's gonna be utility to this and like he'd made some announcement or if it was the community putting that pressure on that makes sense i'm so i really am so on the side of artists on this of like you can be an artist and not have to cr provide utility to people who buy your nft obviously if you promise something or you say there's gonna be utility deliver on that but like otherwise do your art like i'm so 100 on the side

of artists on this exactly well you know what's fascinating about like two years ago in 2020 on nifty gateway there were tons of open editions right um slime sunday ended up having a piece open for for 48 hours for 40 and nobody complained you know i think he meant it over correct me if i'm wrong i think it's like over 500 pieces which is you know astounding right now if you think about it like no one ever complains about like the price of it you know they just appreciate the art and it feels like the new wave of people coming in are so used to having everything utility based that they don't realize that you know nft started just you know just by collecting art right

and and i actually got a it's like i posted a tweet yesterday by um and uh cyborg he's one of the founders of cyber brokers and he said like back in 2017 18 and 19 there were nfts that had utility you know and they were also cheap and so i'm basically quoting here right now he's like they also used to be cheap or free and offered all of their utility off the bat like breathing cats and collecting beer parts and back then the price never went up right and that's why they kind of like died you know they ended up like fading away but now since price is increasing everyone is jumping on this utility bandwagon so what's going to happen let's say in a year or a couple of

months once you know price you know prices start being stagnant are people still going to want utility are we going to go back to this like liking art for art and that's my big uh question i definitely think that nfts and this technology has ushered in a new generation of people who will become like art collectors i said this recently i was actually interviewing the nifty gateway folks right like growing up it never occurred to me like art was a thing that like upper middle class upper class like parents maybe owned like it just see you know you need to have such disposable income and it wasn't really of interest to me and now through this now i'm interested in art in a way that i never previously had been and i think you'll

see more of sort of my generation like interested in art um i just think we're in this place in the market where because there are people making so much money we're still in that very frothy you know bubbly place early internet day comparisons that you hear all the time right where people are just expecting everything to make them a ton of money and that will eventually simmer down also drifter shoots it's drifter shoots right right i always i always want to say drifter wait that is what i wasn't saying like drift shooters i always mixed up the er um his work is incredible like the the where my vans go are you know shots are just incredible um if folks haven't seen that they should go

check it out because it's just like pictures of his feet in his vans like all over the world in these like high up locations and it's just breathtaking yeah they're amazing our our friend uh in our who's on the pod sometimes plum he bought two of those where my vans go and in early days at the time well not not super early but earlier you know the price has gone up since he's bought him and uh i just that was i'd already heard of him but when he did that he pulled the trigger on those i i was so impressed and and you know i think that's part of the reason he did this i know it's part of the reason he did this drop right is people like me and everyone else he loves his work but doesn't want to pay 50 60 eat for

for one of those pieces could get in for point two you know and initially the open edition for 24 hours seemed a bit ridiculous like kind of greedy but the more i think about it i don't see why it's like who cares right the whole point is that if you want to buy one you get to buy one and it's 0.2 and because it's 24 hours there's not going to be a gas war but i think i think this backlash is from the people you were talking about earlier who were just trying to flip and and they mistaken it it's their own fault right like if you bought 10 of those for 0.2 to sell nine of them well why would anyone want to pay more than point two everyone who wanted one bought one totally i am like i i would love to have somebody who's not

on this side i'd love to actually hear from somebody who is aggrieved and understand their argument because to me it is so ridiculous to have created an expectation in your own mind and then be mad when an artist delivering on exactly what they said which was a piece of art doesn't fulfill the expectation that you made up like what um i find that very strange i i don't know if any past photo project has had utility right so i don't know where the expectation of utility is coming from i think it's really from the word nft i i interviewed danny cole no i'm not it's like you know i interviewed danny cole uh came out i guess yesterday and you know and he is creating utility with with creature world which is his project

in in many ways but it's a little different than your maybe typical nft project and you know he's dealt with that having to like kind of realign the community's expectations and and we we talked about just the pressure on all projects these days even projects that have openly said they're going to have utility it's like it's never enough there's really an insatiability to two communities right now that again i think ultimately will simmer as the market matures um i'll say just last thing also um is it what's his name drifter shoot's name is it uh isaac isaac wright isaac here yeah and he's just got a really cool story too i think i guess in in response to i don't know call it backlash or whatever this people demanding utility he was just sort of like are you kidding

me like i've been in jail i've had to like claw my way up to where i i am now like this is not this is not going to faze me and and he's very open about his time you know in prison and he i think he raised like 6.8 million dollars from this open edition drop and i think is donating over a million of it to the bail project or to some sort of criminal justice reform project so um cool story for him as well yeah yeah his attitude is is pretty awesome the the twit the tweet that i really liked said stop asking artists to do utility and i said it over and over and over again kind of like a kid writing on a chalkboard and you know that that tweet blew up and then you know because you know before that some people were

trolling them like i said and it just the whole thing's kind of ridiculous but it really sums up sort of where we are right now in the space and what people expect and what artists have to go through i mean speaking of of danny i just thought you know i think we all have creatures on this pod that the three of us i'm pretty sure we do yeah so i love that project and it's sad if you think about i don't know how your interview went i'll listen to it i can't wait but you know i feel for the artist right like you come out with a really good project i just glanced at the floor it's .55 i don't track it that's pretty low for that project it's still way above mint people love it you know on all accounts it's been successful yet he probably is getting

pressure i imagine that it's not doing well because you know what are you doing for me right now why hasn't the floor quadrupled you know and there's so much pressure on these projects totally and we did talk about it and i think he he's got a you know such a good head on his shoulders and understands like he's like i want to do things that make me proud that push things forward in the way that i've always wanted to and intend to and i asked him and he said he does feel pressure sometimes to like cow tao to the mob but he just kind of has his true north is really like what excites me in the morning and he i understood even better and again i'm a creature holder and i've been following his journey but but talking to him i understood even better what his

intention is with the project and and i'm still bullish long term on it uh realistically but um yeah i mean he's definitely gotten a backlash at various points he also has a community that really loves him and her die hards but it's it's tough out there man do have any of you released nfts previously do you have nft projects actually the three of us are doing a project called aliens eight l-i-e-n-s and uh it's in pre-production so we're we're gonna launch in probably one to two months wow that's exciting good for you i uh godspeed i've said on the show like i love nfts it will be a long time before i decide to launch an nft project because i

i just see the work that goes into it do you want to say do you have anything you can share about it here i'd love to yeah the one thing i was going to say is what we decided because of a lot of those pressures that we were feeling and and what we kind of really wanted to do is just make a fun nft project and so we're actually doing a free mint and no royalties oh i love that and so the the only way we would make any money is we were retaining a portion of the nfts for ourselves and so that just like crypto punks did you know that's the model that we're we're emulating and so uh to me personally it relieves a lot of that stress right it's like we're giving these away for free we're not even taking royalties so like i think that

clearly shows that for the first couple years like this is just a fun project like buy it if you want to don't don't expect it to make you money and we're not going to rug because how would we rug like we don't even have any money yeah that's great i i yes i feel my heart settle when i think about doing something that way as opposed to selling and then having the pressure to to you know make the price go up basically yeah and grab anything i just say when you get two million dollars on day one it's like wow okay and now what are you gonna do and there's just so much pressure that way 100 percent uh i was going to ask if van or deb if you have anything you want to add to the the aliens 8 convo yeah just um so we're building our own

native marketplace so kind of like crypto punks as well so you so you're not gonna have to go let's see on openc or whatever it is you're gonna just go on the website and you like innately and you just go you uh you know you choose one and you buy it trade it do whatever you want and you know the market decides the price which is gonna be uh fantastic was the impetus what's the impetus is it wanting to get closer to your community is it just we love nft so this is fun what was the so moment that means three of us combined you know we've been in the nft space for a really long time and we've always wanted to create a project and we thought that it was the perfect you know with all the projects you know they're raising millions of

dollars you know creating something we're like you know let's find you know let's create a project that's free basically and get a team that's in it for for the long run so all of our developers our solidity developer our front end developers they're not even getting paid they're just getting paid by small by aliens as well and um and they're in it to like build a name for themselves and the nft community and you know we find that really important to build you know you want to build a persona for yourself in the space and not seem like someone in it just for the money this i like like and you've got my wheels spinning because i think um yeah it would be fun and if if you're gonna be in this space commentating on

it as all of us are like there i mean i've been a part of a number of drops so i i understand how that mechanism works um but there is something nice about having your own project but yeah removing the the sort of pricing pressure is is lovely all right i like it we'll uh we'll continue to track it maybe you guys will come back on in like an official interview capacity at some point when you you have it out um anything else we want to say on drifter shoots or i want to i want to move to aku which i'm pumped about just going to say with the pricing of drifter shoots so i think it was released at 0.2 and then i think the floor dropped even to below 0.1 and then now i just glanced it's at .16

or something so it's just funny how i mean that's that's a pretty big in percentage terms a pretty big price variation in just a couple days it's just funny how people are kind of crazy right like what why didn't you just buy it and hang on to it like everyone's trying to flip it and then dump it and then people are buying at the bottom and it's like it's just crypto it's how it is i know it is it's it's a lot of irrationality in all markets but like crypto is everything on steroids i feel like um okay aku have you all been been tracking micah johnson and and what's happening with aku we have we actually on our pod that we recorded a couple nights ago that just came out we we talked quite a bit about aku

we're all fan boys yeah okay i am i'm so into this i i think it's so underpriced and i'm like always afraid to say that because obviously like everyone do your own research but like i bought two this morning i'm gonna buy more i'm like i'm so into this project who wants to kick it off deb van d do either of you wanna maybe dab i feel like you haven't kicked off one of these segments yet sure honestly i would love to but van knows more about it than okay he's he's be you know he's been on it in it on on on on it since the beginning so i'll let vandro cool yeah what um very yeah we're all very excited about uh aquitars and i think you know going back the start was uh there were aku chapters when um micah released these in the past i think

there's been a total of 10 chapters so if you were a chapter holder you were given an airdrop which was nice totally free one aquitar per uh per chapter and if you had you know a certain number of chapters you got these og variations of the mint passes which would give you a more rare aquitar so it's been very i think it's been very innovative the way um he's tackled tackled this and you know you see it with the price going up that there's been a you know there's a lot of hype building up he's been collabing with you know well-known brands such as uh billionaire boys club ice cream um

pumbaa yeah puma is huge yeah puma pumas you know um i used to be a sneaker head back in the day and have you know have some friends that are still sneaking their heads they said puma's you know getting very popular they've signed some major names like lamella ball and you know they have j cole collaboration so yeah that's uh that's a huge collab for them yeah i so i'll give a little bit of of even taking it a little further back just in case there are folks who haven't been tracking it because i do think there's a community of people who are deep into it and love it but i also think there's like a broader like part of the nft world that that sort of hasn't been on it do you guys feel the same way do you feel like

there's a court of people that just like haven't discovered this project yet totally yeah for sure yeah which is so funny to me given that you have michael johnson behind it who you know is a celebrity and has gotten a good bit of maybe i guess mainstream press on this but so if anybody doesn't know michael johnson former mlb player then i guess has always probably been artistic but left the mlb in 2018 or so started focusing on art and created this character aku uh off of this story i guess it was his nephew you know he's a black man and his his nephew was like asked if if um if was it if black people could be astronauts it was something like that that then led micah to create this character of a black astronaut aku and then yeah he did these these ten drops

all with this aku character that became the the ten chapters but they're like animated they're little short films these drops which i love because i'm more auditory than i am visual and all of them have you know are scored and have music set to them and like i just have give you are very evocative which i love um so that's sort of the the context and then he's dropping this 15 000 akutar like 3d character version of aku uh next week and if you have held the chapters you you're going to get airdropped them you've got you already have the mint pass um i'm going to be in the amazon next week i want to get in on the public mint but i'm going to have no wi-fi i'm like trying to figure out how i can scheme

this thing maybe i'll just buy a mint pass or i might have my boyfriend like these are the instructions this is what it's dropping this is what i need you to do don't [ __ ] this up babe you go to advanced gas you click this button like i'm just gonna like give him like a you know a play-by-play like a dock the price range i'm looking for if you just sit there full-on pack it drops on secondary yeah can you imagine explaining that explaining that whole mechanism this is what you do you see there's going to be the open sea floor but there's also going to be the dutch auction and then if this goes down here what you got to do he's got to go on this website literally exactly yeah

it'll be interesting i i'm hopeful it's not going to happen anymore but i hope i was hopeful that the price would dip post reveal and i could get some more and i've been waiting like a fool and the floor has doubled since i started that strategy so not working out wait walk me through what you mean a floor on on what well so so they're going to release what like 5 000 more on a dutch auction which i don't believe they've said what the starting price is going to be and so you know just because they're going to put more into the market there's a lot of hype right now i was thinking well you know these are unrevealed maybe i'll just scoop up some revealed floors when the price goes back down to whatever it goes down to but that might backfire a big time

okay so this is this is what i'm trying to calculate too so this is my debate do i just buy a mint pass which means great i'm in the amazon i don't have to worry about it i know i'll have an alcatar but my fear was exactly what you just described and i asked this in their discord last night if it was going to be an instant reveal or delayed reveal i guess it doesn't really matter for my purposes but just like is there going to be a dip like am i going to regret buying a mint pass right now at 1.75 or whatever they're at it you know because is it going to drop to an eath for one after reveal what's what's our thoughts you're saying no scaly yeah well if i was going to the amazon i would just buy a mint pass i

wouldn't i would the boyfriend wouldn't try and game if you're too risky i know i just like there's so much i'm buying it well i don't know if i'm gonna get into moon birds obviously but hoping that i have that i have five minute passes for v friend series two i just bought two aku chapters i kind of want to buy more aquaculture i'm like i'm about to spend like 70 which is a lot for me on things in like a week i'm trying to like squeeze out the you know any any little bit of of advantage that i can but that always backfires trying to like time the market too closely like that dab or van do you guys have insights into whether there'll be a a sort of post reveal drop for aquitars honestly i have no idea my

my plan is though is when you know the actors are revealed just go on secondary and buy as many rares as i can oh that's your play yeah that's my definitely my phone so you're like smart you are you uh you go to the upper end of the the spectrum when you buy on secondary i do and i usually get wrecked but um the project is great man why why do you do it because i'm like a floor rat i literally buy floors but i'm you know cheap and i feel like it backfires on me because the biggest gains you usually see are in the rarer ones but it's you know what because i find there's such a small percentage of buyers at the top end so if you want to resell right away or you need uh liquidity it's harder to sell where you can sell it right away

but um i read something of the rare ones though yeah okay that's fair van do you have a strategy going into this what's your play yeah i like the time period right after the reveal because that's when you know these flippers are just trying to get out so they start undercutting each other and that's where you can you know swoop in get it below you know what the initial unrevealed cost was and then it will kind of make its way back up so you have to be around for that period though that's the tricky part unless you have a really well-trained boyfriend exactly this is the debate yeah but with the dutch auction adds a whole another element right so that is like the wall i got schooled on the world of women galaxy one and i listened

to your i listened to your pod with zinica and i'm not as technically proficient as he is so he he killed it right he just saw the money lying on the table and and flipped it i and i listened to what he said and that's what you got to do so you i was farting around on my phone i was like doing stuff around the house and like thinking somehow that was going to work for me right like no you got to be at your desktop you got to be focused you can't have like kids talking to you and you have to like every second matters because you got to look at the meme pool and like see when is everyone deciding to commit at that price and then you have to front run them that's if you want to get the lowest price possible you know or you can just

relax and say screw it i'll just see what happens but then who knows right like the floor could double in like an hour i know that's so true that's the dutch auction piece you're right is is i mean so zach my boyfriend was sitting next to me for like the full however many hours of like the world of women galaxy thing like i was it was like a sunday or whatever day and we were like hanging out in the house and i kept like explaining them what was going on and i kept flipping between open c to see you know the the the holders who were trying to undercut the dutch auction and i was like explaining the dynamics so you know he's got a little taste back but it is trying to you know game the the system in terms of when is it about to sell out and make sure you

have the gas at the right level to to bypass the bots and everything like that's that's that's next level [ __ ] and sometimes you know if you really think if you're bullish long term i mean do we really think the floor is going to be 2 or 1.5 like we probably think the floor is going to be 5 or 10. so does it really matter just buy it i know 100 and that's i was i totally agree with that like if this wasn't such a big potentially spending week for me i think i would care less and it's so stupid it's like just i need to be more long-term about it because i think all of this stuff is undervalued um like to the point where i'm like am i taking crazy pills and i guess because there's been a big run-up there was a

big run-up obviously before the snapshot was taken for the akutars and then prices come down a little bit since that snapshot obviously but so so there has been a run up but i'm still just like these just seem they seem undervalued to me i'm gonna i'm gonna drop a little alpha here that we mentioned on our pod as well from zinc zinc interviewed micah and i don't know if it was in his interview or some other discussion he had with him but he said over and over again that the chapters are the kind of fundamental piece to this and if you look at the chapters there's one for point three there's one for point four that's chapter eight chapter nine and if you if you watch the videos they're beautiful so i actually bought i bought eight nine and ten yesterday for a total of like the same price as a

guitar i bought five and ten this morning for point four each what was what's point three which chapter's point three chapter eight i believe is the cheapest okay so i might buy more this is this is my problem i was like i was like oh i can feel it this morning i was like i'm about to go this week before right before i leave with amazon i'm about to go in on on aku's uh aku chapters they are beautiful to your point scaly people should go check them out if they haven't seen them i don't want to hype them up too bad because i'm like they're this well-kept secret and i just want to go buy more before the rest of the world seems to catch on to them wearable is the nft platform that's leading the charge into the multi-chain universe ahead of us available on flow

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join pfp communities and dm with some brand new internet friends living a bankless life requires taking control over your own private keys and that's why so many in the bankless nation already have their ledger hardware wallet and brand new to the ledger lineup of hardware wallets is the ledger nano s plus a huge upgrade to the world's most popular hardware wallet with more memory and a larger screen the nano s plus makes it easy to navigate and verify your transactions and the paired ledger live desktop app gives you increased transparency as to what is about to happen with your nft what you see is what you sign the nano s plus gives you the smoothest possible user experience while you're doing all of your crypto things so go to the ledger website to check out the features of the new ledger nano s plus and join the

waitlist to get yours and don't forget about the crypto life card also powered by ledger the cl card is a crypto debit card that hooks right into the ledger live app right next to all the default apps and services that you're already used to doing like swapping tokens and staking so if you don't have a ledger hardware wallet go to ledger.com grab a ledger and take control over your crypto okay enough said there do we have more more on automation for you guys because you know moon birds is really hyped right now if you got 10 eth and the floor for moon birds was 10 eth and you had a choice between buying let's say 10 eats worth of acoutars or one moon bird what would you do man that's a great question that's tough

man that's a great question that is a really tough question i'm decided i think because i already have a lot of exposure to aku i would have to go with the moon bird yeah i feel the same on that one because i think you if you didn't so the question is do you have any exposure to the moon birds like if you already have one maybe you know you go with the aku's but if you have zero i think you want to be in that expose yeah exposed to that ecosystem so i think you're right i think i'm probably there too but i hate having one of things because i hate not i hate not being able to uh to sell out but i i agree having exposure to proof and moon birds is

hard to turn down what do you think they'll go for what you know it's the people will be able to get them for the two and a half eighth who get on the list what do you think they'll start selling for in secondary immediately after 10. really you think it'll go that high that quickly and i think whatever it's like now 80 90. yeah yeah i agree i think it's gonna settle around eight to ten yeah you may be able to get in that eight if you're if you time it right but i can't agree with god please get me on the auction or please i just want to be on the allowance i don't think i've ever seen more og like people i really respect in the space talk about moon birds in a way that like they kind of act like it's a secret and it's like the worst

kept secret ever you know oh my god well it's funny so i interviewed the team and i think i proof was so stealth right the proof collective drop like i feel like so so many people just missed that right and and i feel like only recently did people really become aware that it's like was trading at like 40 50 eat and of course now is is up way higher uh and so in their discord i guess a lot of people were like how is anybody gonna know about moon birds like we have to make sure people know about it you know when they first sort of told their discord they were doing it and and now the discord's like stop stop telling people about it you know like then they went then they they went in the other direction where it just so instantly became known everywhere i felt like i

was like the drop i know well his first because i heard his interview with you and he mentioned at that point he already knew the cat was out of the bag but his first mention of it on proof was he was saying how we picked 2.5 now i know that's way too high we don't expect to sell at that i'm like i'm sitting there yelling at their at my car going what like of course it's gonna sell at that i'll buy five right now for that price like what are you talking about kevin yeah i know that was like one of my questions for him i was like i've heard you say on a couple twitter spaces like you don't expect it to sell at 2.5 like really like are you kidding and then it was shortly after that interview you know they knew at that

point and they were like they switched it to this new model um well smooves is actually one of our topics is there anything else uh so are any of you guys in proof collective it sounds like no based on the the experiment my biggest hope probably ever is i did know about it because i listened to proof since it came out and yeah i love kevin rose and i i don't know what the hell i was thinking i was all i was all set to buy it i have like dms of me telling other people you should get this i'm gonna get it it'll probably settle at three and i think it was that weird psychological phenomena it happened to release it was a saturday and it was the market was really cold and the drop went from three to two point five to two to

one point five and i was deeming of some other guy and he's like do you think we should get one and i'm like i don't know maybe not and then the fact that it went lower than i was guessing made me not want to buy it totally know that yeah i didn't buy it and then i just kind of forgot about it and you're right and the next thing i knew it was like 20th or like what the heck yeah yeah i you know i i also was like vaguely aware of it but i would not even to that point like i wasn't tracking the the drop i you know i listen to proof sometimes too i'm back i should listen to more podcasts given the industry i'm in but i just i don't have as much time as i want to listen to podcast um and

yeah just just missed it infinite regret in this face as zenica would say there's always going to be are there other opportunities yeah there's always there's always an x drop i mean the reality is like i have a hard time saying liquid enough because that's really my challenge so you know i can say all this but i'm like you know um okay the meta economic model uh that that's how punk 6529 was was putting it there was an article that came out basically i don't know what it was in um where we got a little bit of an insight into meta's plans for horizon worlds which is their like you know virtual reality online game thing uh and it was hilarious does anybody you

want me to give the tl dr on this for folks and we can comment on it or does anybody else want to run through what what we learned here yeah go ahead so so basically there is an interview that incorporated some zuckerberg stuff other people from the meta team um but basically it's a meta plan to let creators sell virtual items in the metaverse in their meta metaverse but the company plans in many cases to keep a cut of nearly 50 percent so if you are you know a fashion designer making your metaverse wearables and you're selling it in the meta ecosystem uh meta is going to take like 50 of your sales which is batshit crazy and of course uh punk 6529

was going off on this and many others were and it just feels like even worse than i think many of us were expecting for meta um thoughts let's let's hear them so apparently it's not that uh uncommon i was i was reading a tweet today by this guy yeah by this guy named miguel piedrafita and he was saying twitch they take 50 of subs adobe they take 65 of stock sales and roblox takes 75 percent of uh devs income so i think it's a web to dynamic right of taking so much percentage i was comparing it to like the app store which is 30 and that gets i feel like [ __ ] on for the 30 cut that the app store takes but that's really interesting those other comps and

here we are complaining about 2.5 on openc yeah well i think this this obviously hits harder because they're trying to make a web 3 play and then they're incorporating web 2 dynamics and so it's the for those of us in the community obviously that that feeling of like you don't get it you know like corporate overlords you are the whatever the the company in uh ready player one is the you know the villain company uh van scaly i don't know i would say my the only product that facebook actually made themselves that was a good product at the time was facebook they just buy everything else so now they're trying to develop their own metaverse i i don't have any faith that they're going to do it well or that it's going to work

the other the other thing i was trying to understand and i guess part of the reason that the 50 felt so crazy i i can't tell if there's if if they're saying something about interoperability here or not um you know like our is the argument here it's 50 if you're on the the metaverse platform but you're gonna be able to take it elsewhere because they say meta's quest store which sells products for its oculus quest headsets charges a 30 transaction fee in addition horizon worlds will keep an additional 25 of the remaining profit resulting in a total of 47.5 total cut for meta um met a spokesperson sinead purcell confirmed the figure to the post adding that

horizon world will eventually become available on hardware made by other companies in those cases meta will keep charging its 25 horizon worlds fee but other companies will set their own store transaction fees is that i didn't fully understand that and i didn't know if it was like if that's a nod to interoperability across metaversus anybody understand that yes sounds like maybe i that's the first i heard that but from what you just said it sounds like they are expanding you know planning on having other people be able to develop on it and then just use their you know have it basically be open rather than closed which would have to that's the only way you can do it successfully in my opinion so but i wouldn't think facebook would do that so that's kind of interesting yeah and that was the thing i was wondering if you know they sort of

understand because i felt like mark nodded to it in the in the big meta presentation when they did the whole rebrand it felt like he gave nods to sort of understanding okay you know the fear around facebook just introducing like a closed metaverse um and so this they're not doing that but the trade-off is sort of what to me feel just like crazy fees when i think in web 3 terms van you have any thoughts on this whole thing yeah no i think i i agree with every everything that was said it shows that they're not in tune with you know web 3 and you know maybe they have something else planned but we've seen historically facebook is kind of a closed system you know they so maybe you know within that framework

they think charging that high of a percentage is right but i don't know it seems like they haven't done their research and what's you know been going on so far i just think they're going to need to have such a crazy moat of some sort in order to justify it because you're going to have so many platforms that will undercut it that are web 3 native and obviously maybe the moat is the billions of users that they have and that's what they're betting on or because i'm with you scaly like i just don't see them innovating to the point of like the tech or the experience of the world being so superior to anyone else who's also trying to do this right now with with all the different with all the hype around the metaverse and all the different players building it so i'm

just very skeptical that they will be able to produce a product with enough uh draw in and of itself to command those kinds of percentages but but they do have billions of users and they're like literally the internet in some countries so what do i know um okay forbes announced a billionaire collection forbes announced an nft collection and it's a bunch of characters that are fake billionaires they were launched on ftx uh did anybody have like initial reactions to this and then i have some some things that i actually think are sort of interesting about it yeah reading the article i thought it was a joke at first yeah like i didn't i didn't think it was

serious and i'm like no they're actually serious yes and and and just continuing along the article they said you know they are going to require you to kyc which is yeah i feel like that's a that's a big no-no and it's going to create a lot of folks not wanting to even participate we don't want a kyc right we're all noms right here you know like like we have you know i'm punk vandelay so yeah i don't i don't want to you know have to kyc in order to participate in your in your project i totally agree that it felt more like an april fool's day

initially where you're just like because there's there's a world in which it feels like kind of bizarrely tone-deaf to launch like i don't know it was just and then it just you know and then it's on ftx and you've got you know sam banking freed is one of the youngest billionaires like it just felt like this weird like you know very elitist thing i will say as i've learned more about it i think there are some some elements to it that are that are actually kind of interesting but dab scaly would love would love your your thoughts if they evolved at all or you still just think it's pretty tone-deaf is it on solana if it's ftx i just would assume it would be but that's a really interesting question that i don't know the answer to kind of has a solana vibe if you ask me

yeah is that shade uh it is it is it's funny because i was looking at the nfts themselves on forbes and it was really weird i was struggling to figure out how to like get to the marketplace of them when you see a press release on some of these nft projects they won't even say which blockchain it's on which is so funny so funny and but even the forbes site like i'm on the forbes site where they're showing they're you're okay wait wait hold on we're gonna find this um yeah the the photos of the actual nfts are the best part they have little crowns on their head so they're billionaires with little crowns yeah that's funny it's east it's it's

deposit at least 0.25 eth into your ftx account the minimum amount needed to take part in our nft billionaire collection sale okay so i i think it sounds like it's ethereum um i'm curious what what deb thinks and what you thought was good about it carly cause i didn't quite understand the whole point of it to be honest yeah honestly i have no idea what this whole project is about i got confused reading it yeah so okay here was the piece that i thought was was kind of interesting and because you know forbes obviously is well known for its its billionaires list and it comes out with that every year and we can all you know say the billionaire thing is tone deaf but i i you know i know who's a billionaire according to the forbes let's not you know not closely but you know i'm up on

that and these these billionaires that they have um what was the what was the piece so they each of their billions each of their nft billionaires has like a fake portfolio that's been like randomly generated of like the stocks they hold or whatever they have their portfolio and that that portfolio based on the real prices of whatever stocks they have they're gonna update in real time so like their ranking on the the forbes nft billionaire list is going to change according to how well or not their their uh stock portfolio is doing i kind of thought that was fun and i kind of thought that was an interesting maybe like dynamic rarity system i don't know if it'll play out that way you know but if almost like there there's something there where uh the value of them will correspond to you

know the kind of value of the portfolios they hold at any given minute i thought that was kind of interesting and then of course they have done that thing where they they've worked with a artist in barcelona to create the artwork for it and so the billionaires themselves are like super diverse and fun looking and there's sort of an element of you know the diverse billionaires list and i don't know i some of that was better to me than what at first glance just being like this billionaires and i feel like what the heck um so i warm to it a little bit i'm still not going to buy them but i i won't do it no agree with you there i i did like the diversity looking at all the you know the the mock-ups that they had i'll also add that they have stories

like each of these nft each of their billionaires has like a little profile on forbes and for me this is something i think that's been under underdone in the nft space which is you know the picking is very visual right now you pick characters based on on very visual traits but and i've said this before like i'm a story person i'm an auditory person so i like when i can i like the idea of reading stories about different characters and then picking which nft i want based on backstory and based on traits other than just the visual traits um so each of these have like a curve you know they have a profession and they have a little profile um and i think i i actually kind of like that as well that's cool interesting yeah i guess

there's some parts of that that are novel but i don't know like none of that appeals to me in any way it's funny yeah um fair enough yeah again not not actually planning on buying in but it and this is like the general market reaction to it right is there is it being sort of resoundingly slammed sort of irrelevant in my opinion i haven't heard anything about it but okay doesn't mean it's not going to do well right like the space is big enough where stuff comes out of nowhere and does well yeah yeah yeah all right well i think let's uh maybe talk about this hundred eath challenge y'all are doing i think that's a fun place to to maybe close on by the way i'm already doing better i checked

my floors today they're looking good wow okay yeah somebody explain what y'all are doing so we're doing a hundred eth pretend fund competition so we each get it's not real money we each get a hundred each to buy nfts and to make it more simple you basically just buy a floor of whatever project you want to get into so you don't have to take into account rarity and all that stuff so on our pod a couple days ago we just released our our picks and then every week we're going to revisit it and after about 10 after 10 weeks 10 episodes we'll finalize it and whoever wins gets a very special prize and the losers will all be humiliated in some certain way

and uh we would love to invite you to be a part of the competition carly okay if you're if you're i did start to just jot down some of the projects for me it just became like if i had 100 eth where would i want my money i feel like you know the strategy here is obviously what are the biggest growth play is going to be um which is so hard to know in a short term what's the time frame you said you guys are doing it over ten weeks okay ah that is so hard but i i i'll throw out some of my thoughts but let me let me hear let me hear y'alls did you could you have variations like i'm gonna do ten doodles or was it just like these are it's just like yeah you can kind of do whatever you

want so mine was all over the place mine's like really long so maybe deb you give yours first i think i have one of the shortest ones but yeah so i have um i took one floor ozuki 10 beans which is the the free air drop that we all got and 12 yeah aku akutars and that's it that's all wow you kept it real simple okay fascinating van just everything all moon birds i'm just kidding that's a way shorter list you can't pick moon birds that's not fair exactly if we could i think i think it'd be a different story but um so moon birds are just qualified because they're

not actually out yet you're saying yeah exactly exactly so carla you're not allowed to pick moon birds oh okay that's true yeah so i went with uh zombie club if you're not familiar with it it's a project that's bigger in asia so you know we found out out about it from one of our fellow podcast mates plum so it seems like it's primed to be possibly the board apes of asia wow say the name again um zombie club zombie club yeah so there's a big star in asia named sean sean you that's involved so you know it's interesting because the discord is a lot of it's not in english so it's really hard to follow but they

do have english sections you know um but a lot of the activity seems to be you know in asia a lot of meetups and all that so it'll be interesting to see where it takes you know but it does feel like i'm out of the loop a little bit but i think there is a lot of potential there oh i'm looking at now floor is around 2 eth all right i'll uh i'll look into it can't say i love the art but that's rarely why i pick projects to be honest so so that that's not really a problem uh okay so you picked zombie club did you say others what others did you pick yeah so that was my first one i bought um hypothetically bought 10 zombie clubs um the next is quantum keys so this is

uh yeah yeah so this is um it's meant to be uh in real life space you know that's opening up in santa monica but it's gonna you know um justin um you know you're with the twin flames yeah justin average known for twin flames is um behind it so they're gonna have um mints along the way so it's similar to kind of the proof collective and that you have access to you know specific um you know either experiences or meant you know i think the telling sign is

that justin is the biggest holder of these you know he's been buying them up in the secondary and they're doing you know they're going outside of photography and actually doing curated art releases as well lately so i think you know there's a lot of potential there and you know you don't want to fake justin he's you know he works very hard and executes and my last two i think everyone's kind of familiar with these akutars like we've discussed in length and uh mf first you know um mf yeah they're the number one in terms of community you know any anytime you post about mfr's you're gonna have just the whole group you know piled in you

know they're all in the comments and and retweeting your you know your posts i've never seen anything like it the mfrs are just just hardcore you know yep yep i uh another thing i regret not getting into apparently so um the the bankless guys david hoffman and and ryan went in on on mf and apparently david posted in like the kind of private bank list discord tracks my podcast is through bankless um just like hey like this is alpha like i'm buying mf's or something and i just missed it and it was like pretty shortly after that that uh they really started doing well and i was like god damn i mean they were they'd already been doing well but they really had that that kind of pop-off moment um wait let me

clarify this is the is the point or the point of that the 10 weeks is like starting price versus ending price price of the portfolio not like yeah total price obviously okay yeah okay scaly so yeah so basically at the end of 10 weeks whoever's is worth the most wins yeah wait it's whoever's is worth wait wait but then wouldn't you just buy like i'm looking like zombie club and quan but because you bought 10 of them i'm like i don't know you're spending 100 right now you're investing 100 right now and then how does your investment do in 10 weeks yeah yeah of course of course but you can't change yeah yeah you can only pick one for example i bought 10 zombie clubs at 1.78 when we originally did this and um quantum keys 10 of them at 2.9 aquitars 16 of them at 1.3 and at first 10 of

them at 3.3 and got 99.8 each was where i landed at okay got it cool cool all right scaly hit me with yours yeah so i have a really long list but i'll try to be fast so 10 akutars at 1.3 that's a nice price already two beans three mores which we haven't talked about but that's the barcelona artist and it's actually they're pumping crazy today which is nice to see i don't know if you're familiar with that uh project but i'm not the art's really cool uh m-o-a-r-s it's pretty high up on the volume on the volume list for openc one floor doodle two galaxies five adidas passes uh i i did some cultural stuff because i'm a man of culture so i bought a squiggle and a gazer some art blocks and then five max paynes two cyber brokers

ten vayner sports passes we didn't really talk about that at all and then five quantum keys and then one mf or just for the vibe so that was my total um that's awesome i uh all right i'll i'll i'll do mine i mean i i had um i i haven't actually done mine but i was i did start jotting down the products i'd want to be and i haven't done the quantities but cyber rockers was actually the first one that came to mind for me i'm like very bullish cyber brokers i'm very bitter i didn't buy it too again i have a problem pulling the trigger on things um and i i think they'll continue to do super well it's just so hard to know in a 10 week period it's two and a half months fluff world would probably be on mine i didn't hear anybody say fluff

um i think that's a project that could do well over the next ten weeks v front series two i didn't hear anybody say i've got i've got a bunch that you guys said but um i think the the oh but they're not out yet so that would also be it doesn't count right yeah there's got to be an actual market that's trading so you know the price yeah damn that's true so i can't just get like mint price [Laughter] which is a thousand eats happening today that doesn't count a thousand eight a thousand bucks peg to eat um we made it simple too so it's just floor prices yeah yeah so we can track based on that okay all right somebody that doesn't count and then a guitar is for sure for me and that first was online azuki was online um uh do ida doodles world of women galaxy

so some overlap with you guys we're just like again i haven't picked perc quantity so i'll have to pick quantities get myself to 100 eath and then uh yeah tighten it up and then send it over and we'll put you in the pool and then we're going to have some other guests join and it'll be fun i mean they'll join a little later so maybe that's an advantage or i don't know we'll see but should be fine or or the prices if you know if things are going up floor prices could be higher then and it's sort of a disadvantage you know yeah honestly you never know right even if you had one week to go you might that's not necessarily an advantage right yeah yeah for sure you guys this i i like this because it it has gotten me i'm like oh so should i buy quantum keys

i've looked at that i looked at that probably a month ago i've looked at them on and off um i never have bought but you're making me want to the proof you know what apes did to all pfp projects uh proof collective is doing to these passes so you look at these passes and you're saying okay vayner sports pass is .35 quantum keys is three but there's only a thousand i mean what if it goes up to 20 you know i also felt like vayner sports pass was maybe a little undervalued because there was sort of that scandal with the the launch where not you know again scandal probably overstating it but some people you know that it was like a million dollars lost in gas or whatever like people got wrecked on the gas and

um and so i felt like people were a little bit disillusioned with the project there which i did not phase me i'm like all right they're gonna return the gas i still fully believe in aj vaynerchuk and the team and so um so i don't know if that was keeping prices suppressed a little bit that could be an opportunity yeah i feel like i feel like it is and yeah i got some bad pr which will totally blow over in my opinion totally agreed fully fully agreed i said this last week on the pod i have a friend who worked for vayner x in like very in it's very early days and um it's like aj's the real brains she's like aj's so smart that's interesting she's he's smarter than gary i was like she thinks very highly of both of them but uh but that's that's some fun alpha

because gary's obviously so much better known um cool okay well this this has taken us to just about the hour mark we're actually a little over the hour mark any any projects we didn't get to cover that y'all are are excited about moores i guess but you said something on that yeah moore's so i apologize if i get the artist name wrong but i think it's joan coachella or something similar to that he's from barcelona you probably will recognize the art if you look at it he has comics and stuff that he's done and it's they're pretty iconic looking pieces i think the fact that he's european is probably like he probably has a lot more appeal in spain than in the united states and so that might be something to kind of look into

i wish i had dropped this outfit yesterday because the floor is like doubled in a day wow but we'll see what happens maybe i'll go back down tomorrow but yeah my point was that i actually really like the art and i i bought one that i have it on my mural frame right now and i just really like it so i didn't necessarily buy it as an investment but because you like it yeah that's cool i'll shout out um i've worked with gare who's also a spanish artist who does uh crypto geishas and then he did like a super geisha launch that a company the company i work for was you know his partner in um his art's really cool we're talking about spanish artists i'll give him a shout out here um but cool i'll have to look more into morris i like that

um and you mentioned vaynersportspass i'll say candy is doing their first like mlb full like mlb activation they did like some drops last year with like some lou gehrig related stuff but they're like actually dropping their you know next generation 720 athletes included mlb like sports packs i think it's like 50 bucks for five cards i've never been like a sports card trader but i i may buy into this just to have a little exposure to the sports card world is that on nfts yes candy but candy's got an integration with bitsky i think so it's like it's it's it is a separate wallet and you have to like you know migrated it over to your

metamask yeah i was trying to figure that out because it seems like it's pretty centralized like they just want you to be able to go on there and buy it but the back end part was kind of confusing but it did look like the contract was on eth for the on open c so this wasn't true yeah i i yes i believe it is but yes it's it's um it's a it is a little centralized and it like i actually have i bought one card from bitsky and it when it first was like all launching and i think it's still sitting there i literally don't even know what athlete it is i think i think his name is actually micah which is funny since we were talking about micah johnson but i bought like i bought like i was like again just sort of like all right i want

to you know it was like 20 bucks or something so um but i think it's still sitting in my bitsky wallet because i think i never ended up paying the gas to like get it over to my metamask um but but i do believe it i paid an eighth i don't think i paid in fiat oh i don't know now okay well so much for knowing anything about that um all right guys well thanks for for joining me and we'll you know again maybe this will end up on looks rare and then i'll say thanks for having me but uh but uh thanks for for hanging out thanks for having us it was a lot of fun thanks carly yeah it was a lot of fun i appreciate you having us [Music] hey we hope you enjoyed the video if you did head over to bankless hq right now

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