Polygon Miden announced, Nifty builder preview - The Daily Gwei Refuel #254 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily grey refuel worry cup the latest news and ethereum ecosystem i'm your host the anthony designer and today's the 17th of november 2021 all right everyone let's get into it so just wanted to give a quick kind of i guess like friendly warning here um there are a lot of scammers in the crypto ecosystem right and they get crafty sometimes and what scammers have been doing for quite a while now is sending tokens from either kind of like the uni swap pool or from i like just random addresses to my ens like sasso.ethmypublicans and you can see here these tokens are basically scam tokens you know they have the meta token shiba army inu token or something and there's tons of these that get sent to me all the time and unfortunately a few people have dm'd me

and said that they bought into these tokens because they saw that i bought it on my public wallet never do that guys like please never ever ever buy into things that i buy on my public light i would never invest in things on my public wallet like my public wallet has um air drops that i've gotten has a bit of ether in there and some nfts but i'm not going to make investments via my public wallet because i know that people watch it i don't want people kind of copy trading me so if you see any tokens going to my wallet like this please please please do not buy them because actually what ends up happening with a lot of these tokens is that they're programmed in such a way where you can't actually sell them you can only buy um and and and kind of like what ends up

happening is that you buy into it you buy into it through a decentralized exchange like unisop for example uh and then you put your kind of like funds into that liquidity pool and then it gets bigger and bigger and bigger until it gets big enough where the scammers are like okay well time to write and the scammers are the only one who can sell um who can kind of like sell or pull the liquidity out of the pool and then you get stuck holding this thing that you can't move or sell or anything like that so please please please do not ever buy any of these tokens and it's not just me that they send them to they send them to a lot of people so make sure you actually kind of like know what you're buying when you look when you're looking at tokens don't just go

off what what's shown on either scan you know cross-reference it with uh you know coin get go coin market cap uh coming the discord channel and ask as well the daily grade discord channel um just please do not buy these things because uh unfortunately it's a very quick way to lose money uh and you know you're doing it voluntarily as well by buying into it's like you're getting hacked or anything you're literally buying into it and then you can't sell it and uh the thing is is that depending on which interface you use it won't actually tell you this i don't know if unisop's official interface tells you this it should um but like i hope that more interfaces do this where they basically say hey you're about to buy a token that you can't sell um and you know so don't do that obviously uh because

that's just you know it means you're just holding onto something that you can't sell now the funny thing is that there's actually tokens out there that are programmed this way and they're kind of like quote unquote legit like they're meant to work that way they're not a scam but they're just meant to work that way so it makes things a bit murkier but nine times out of ten you know even more than nine times out of ten like 9.9 times out of 10 these things are all scams and as i said i will never invest in something via my public address uh because i i don't want to broadcast to the world of course i don't i don't want people copy trading me so whatever tokens you see go into my wallet unless it's an airdrop um it's definitely not me sending it to me or me kind of

getting it from from somewhere i'll be investing in it so just wanted to give a kind of like friendly warning there because i i had some people message me saying they followed me it followed me into these trades and like what do you mean follow me into these trades i didn't do these trades i didn't buy this stuff so so yeah just just a warning there but anyway on to more positive news the ethereum foundation announced yesterday that they are donating a million dollars to public goods not just public goods in ethereum but public goods more generally so they've donated some money to coin center the uh electronic frontier foundation which uh fights for kind of like online privacy and online uh liberties and things like that um and fight for the future as well which is part of that uh and get coin as well as

part of a matching round so really really awesome to see this maybe this is a bit of the money that they got uh from dumping that 20 000 ether on us right guys i mean the market's been a bit weak today as well so maybe they dumped on us so they could go give to public goods and you know what i don't i don't mind if they did that like we need more public goods funding uh and more non-profit funding out there so i'm i'm really happy to see this i mean coin center and the eff and five for the future definitely amazing organizations but of course bitcoin is amazing as well so bitcoin is getting 500 000 and those other three organizations are getting 500 000 split between them so this is going to be part of the the uh bitcoin matching pool for the

upcoming advocacy round so uh i think this may be separate to i think actually from no no that's something different i think this may be separate to uh the normal matching rounds and it might just kind of be a separate category altogether called an advocacy round so i'm curious to see what that looks like but yeah that's a lot of money 500 000 hopefully going to some great public goods there so so yeah very very positive news glad to see this and you know the ethereum foundation doesn't only um kind of do one-off things like this i've reported on it before but the ef ecosystem support program the ethereum foundation ecosystem support program recently gave like eight million dollars to a bunch of projects and that's all kind of like money they're giving away they're not it's not to pay teams or whatever it's literally

donating it and giving it to these to these projects as grants so you can see why the ethereum foundation actually needs to sell the ether they have to cover these costs not only do they have these costs that come up once a quarter say they're giving like 30 40 million dollars throughout the year to these things but they also have a lot of employees you know a lot of the core developers researchers people doing other stuff people organizing conferences all that sort of stuff right they have all of that and they need to fund it so you know when you see the ethereum foundation selling eighth they're not bearish on eight they actually need to fund their operations uh and they're doing good treasury management as well they're acutely aware of bear markets you know a lot of you may not know this but in the early days

what ended up happening when ethereum first got off the ground they they raised uh did an ico they raised i think 30 million or something like that or maybe less than that in bitcoin right it wasn't in dollars and it wasn't stable coins around back then i think there was tether which was dodgy i mean it's still dodgy i guess today by some people's standards but it was like uh a way smaller back then where dodgy are and there was some other experiments that weren't really stable coins so they kept it in bitcoin and then after they raised that money bitcoin actually went down a lot in value i think it halved so essentially the money that they had raised is basically halved and they were on like a shoestring budget so they had to spin out a few teams like parity spun out of them um and there was also kind

of like a few other people that spun out like consensus with joe lubin stuff like that uh and then obviously the eighth price during 2016 um went up a lot then the dow stuff happened eighth price went down again to like six bucks the ethereum foundation was selling eighth during this period because they needed to kind of like cover their costs and then we had the massive 2017 run and the ethereum foundation sold again at the end of 2017 i think around a thousand dollars if the timing matches up correctly i think they they may have sold like uh 100 million dollars or something worth worth of um worth of eighth which is really good because that got them to the bear market right that allowed them to continue building through the brutal 2018 and 2019 bear market and these days i feel like they're just much more acutely aware of

of kind of like how quickly things can turn not i'm not saying we're going into a bear market but the thing is if you've been around this ecosystem long enough you kind of have like this ptsd about it and you're kind of like playing more defensively than someone who's newer to the ecosystem like personally i play very defensively these days like i'm not my dj days are over guys like totally over but newer people to the ecosystem they don't have that baggage behind them so you know it's a kind of different mindset but for us for those of us who have been here a long time we definitely kind of like play it play defensively and i actually appreciate the ethereum foundation doing this because they uh you know they they it's not like they can sell more eth again right they can't just do a sale for eve they can't just

uh do a new ico it can't just issue more tokens they could you know the human foundation is a non-profit as well they're you know maybe they could get people donating to them they're not going to go out there and raise money um whereas you know things that spun out of them like consensus and stuff like that with joe lubin uh they can actually raise money because it's a for-profit venture and things like that so so yeah it's still cool to see to see all that and i guess like i spoke about the the fight around like um the ef selling the other day i'm not going to go into that too deeply but that provides some context as to why not just ethereum foundation but all kind of like projects should be selling off their native tokens during kind of like bull markets to get like a cash

position because if they don't they end up getting stuck holding that token and if and a lot of these tokens will go down 90 and a lot of them already are down 90 even though we're still in a bull market um a lot of them will go down 90 at least in a prolonged bearish period at least because no one wants to hold them like why would you hold these things that are purely speculative assets they've got no fundamental value behind them because they're very early stage they're incredibly risky to hold um so you know i think this is just like prudent treasury management not to say that e falls into that category but the ethereum foundation has cost needs to cover them so that's what happens there but anyway glad to see them also donating to non-profits and more public good stuff here always a big advocate of

that so a massive announcement out of polygon yesterday and this came out just after i did the refill was a bit disappointing cause i was like nah i gotta wait 24 hours to talk about this um but as you guys know i'm an advisor to polygon and i mentioned yesterday how they had an announcement coming up well this was the announcement i didn't actually know about this before it got announced it was surprised to me and i was like wow okay this blew away my expectations so what they've announced is something called polygon maiden or midden i think it's maiden i don't know maybe i'm saying it wrong which is an upcoming stock-based evm compatible roll-up this is not i wouldn't say it's like a comp a competitor for stock where in that like it's a you know in the bad sense but it's definitely uh a new kind of like uh

avm compatible roll-up based on stocks now the other ones out there aren't based on stocks they're different cryptographic primitives uh that are that are being created but i'm pretty sure this is the only the second team tackling the starks um kind of like stuff uh there's obviously starkware and now polygon and i you know i would like to see a third entrant i don't like seeing monopolies like i actually hate monopolies no matter what it is uh because what ends up happening is if you have a monopoly and there's only one company doing the thing or one project doing the thing they uh they tend to kind of like uh uh what's the word i'm looking for tend to kind of like centralize power you know within them and by doing so they're kind of like uh it leads to less innovation over time leads to less healthy

competition less growth and all that sort of stuff so i'm really really glad to see polygon do this now the person who will be leading this project is uh his name is bobbin threadbare he was actually leading facebook's zk program so he was a former lead zk researcher at facebook who led the development of winterfell which was something that i covered on the refuel a few months ago at this stage i can't remember exactly what it was it had something to do with starks obviously um a winterfell was a highly performance stark prover and so yeah they've basically got got um a bobbin to to join on board here to produce a fully open source a stock based emm compatible uh roll-up called polygon mider now i keep telling you guys polygon is so much more than the pos chain look i mean look at

this ecosystem right here you got like the polygon sdk you got hermes you've got avail pos maiden um and nightfall of course uh and you know you know now they have like two zk effects hermes and and maidan they may be having more coming soon i don't know but like i wouldn't be surprised they have nightfall which is like a hybrid zk optimistic roll-up effort they have the polygon pos chain which is a short to medium term uh uh evm side chain to just get us over to the uh to that hump of getting to these fully performance kind of like roll-ups they've got the data availability blockchain and the sdk for developers uh and of course they've got hermes as well which is another zk effort on their front so they're just covering everything they are the powerhouse of ethereum scalability and i couldn't be

more proud to be an advisor to them honestly like i know there was some drama you know over the last few months about polygon and i just was like this is just so unfair these guys are killing it they're doing so much good for the ethereum ecosystem they could have easily branched off and built an ethereum competitor but they didn't right they've been building ethereum scaling technology for a long time and they just keep you know killing it with these releases and that's exactly why i keep uh you know i'm i'm still an advisor to them i joined as an advisor to them and i'm proud to support them but uh but anyway uh you can learn more about polygon maidan by going and reading this thread going to the github checking it all out everything like that it's not obviously in production yet it is not something

that you know everyday users can use just yet but it will be hopefully soon i actually think 2022 is going to be the year of zk we're going to see so much kind of zk stuff coming out in 2022 both to mainnet um and to test net and also lots of research breakthroughs i mean you know if we're only at the starting line for layer twos we are like in the kind of locker room for for zk stuff where there's so much left to do here and that's so exciting because it means we haven't even scratched the surface of what's possible with this technology and it's just going to be exponential from here we are truly in the exponential age not just in terms of kind of like i think wealth creation in in tech but also in on in the tech itself like i know the gas fees are high now on a

theory i'm like wow i know ethereum is painful to use but we have these layer 2s live today that you can use and they're only going to keep getting better over time and it's exactly why i keep saying to all of you that uh the future is just so bright and if you're gonna wait around if you're gonna leave the ecosystem and come back in five years and wait for everything to be sorted out you're gonna miss out on everything like imagine being able to invest you know in kind of like the early tech companies right after the dot-com boom kind of like happened and the crash happened let's say mid-2000s imagine being able to invest in microsoft in google in apple in all those companies tesla i think tesla came a little bit later uh 2007 or something um imagine being able to invest in all of those and

basically saying hmm no i don't want to because the tech isn't there yet this is hard to use uh you know i don't see the the use of it there's not many people using it yet it kind of it's expensive for whatever other reason uh i'm not not gonna invest in it i'll come back in ten years well you come back in ten years and it's 2015 these pr these companies have gone parabolic their growth has gone parabolic and they were the best investments of the last 20 years why would you do that like doesn't make any sense to me that's exactly what would happen right now if you said i'm going to come back in five to ten years i mean probably even just five years because crypto moves so much faster don't do that please do not leave the ecosystem even if we go into a prolonged bear

market period eventually please don't leave because it is the biggest regret you will ever have leaving the ecosystem trust me on it like my biggest regret was leaving um the crypto ecosystem in 2014 and then only returning in early 2017 missing ethereum's early days um and i you know i've been trying to make up for that ever since i don't regret it anymore i got over it of course but the the worst thing you can do is leave the ecosystem because you think the tech isn't ready the tech isn't ready because you're early and being early means opportunity so definitely stick around for it anyway that's a little bit of a kind of a rant there um but yeah i hope you kind of like uh heed that one heed that warning and essentially uh kind of make the most of the time that you have uh being early

because it's not gonna last forever guys um and speaking of uh zk uh stocks technology starkware announced their series c raise so they raised 50 million dollars at a two billion dollar evaluation led by sequoia which is a very very uh successful and popular web 2 i guess traditional tech uh investor alongside a16z um i guess like sequoia and asics they're like some of the top firms they also had a bunch of other people that they raised from i'm not sure if uh i think was in the block article that i read yeah yeah you can see here if i go to the block we'll be able to see the exact investors here this is something that i actually wanted to talk about which is a little bit disappointing to see so they i mean i know i spoke about yesterday how zk sync raced from like a bunch of ecosystem

participants strategic partners community members and some funds of course um for their series b round um but what starkwear has done here is they've raced from sequoia which is fine but then and paradigm which is of course fine but then they've got like a bunch of investors in here that i kind of like scratching my head about especially oh sorry it doesn't add there especially alameda research who for those of you who you don't know this is sbf's company spf the co-founder or the founder and ceo of ftx the person who is all in on the solana ecosystem so why are we giving you know or why are projects giving alameda research or spf or ftx access to their investment investment deals i should say when they're competitors i don't get

this logic at all and the thing is though the only way it makes sense is if starkware plans to actually not just be on ethereum right they plan to do roll-ups on on everything else and maybe even solana for example and i think they will do that and that's fine they can do that there's nothing wrong with that but i would have liked to have seen not so i mean their funding rounds have all been the same they've been very kind of like vc heavy very closed off and i've been critical of other projects for this in the past especially the base layer projects the layer ones i i'm generally very very critical of this and of course i participate in a lot of these rounds but i tend to avoid the heavy heavy vc kind of stuff um if i can uh especially when

it comes to to like layer twos and things like that now i know i mentioned yesterday that vcs and kind of like funds and strategic partners they can add a lot of value of course but if you choose them kind of like wisely i don't know i just feel like they could have i mean they did say they invested from a bunch of other people as well but they didn't name them here um but yeah i don't know it just kind of like feels a little bit weird and when they eventually do do a token they haven't announced it yet but i'm assuming they will i'm very curious to see what the distribution looks like because if they're already valued at two billion dollars this is ethereum's premier layer two kind of like um scaling ecosystem they're they're alongside all the other you know top ones like polygon and

optimism arbitrary zk sync all that sort of stuff i'm curious to see what the token would actually open and trade at i'm gonna assume a minimum minimum of 10 billion dollars uh because you're doing a relative valuation to the layer ones because these layer twos are basically competing with the other layer one ecosystems um all the way up to like a 20 30 40 50 billion dollar valuation right out of the gate it could go from anywhere depending on what the market's doing at the time now if you want to buy in as a regular investor to these networks uh it's gonna the valuation's already gonna be so so high on these things so i really do hope they do a nice air drop for people and i really do hope the token distribution is fair i would really hate to see a 50 token distribution to you know

insiders and team and all that and then maybe like 30 to the treasury 10 to like some ecosystem programs and then 10 for an airdrop or something i would like to see a much heavier kind of like weighted airdrop because we don't want these layer twos owned by vcs like the l1's are we want them to be as kind of like credibly neutral as possible um but in saying that as well it's not look when i say this sort of stuff it's not critical for these l2s to be you know as kind of credibly neutral and as decentralized as layer one that's the whole point is that the l2 can be malicious but it's okay because you can always withdraw your funds to l1 i'm all i'm i'm most critical of the l1 or the base layer having to be decentralized like maximally decentralized because if the foundation

is not maximally maximally decentralized if it is not maximally secure if it is controlled by a small set of people well then everything else built on top is has no guarantee of anything right it it basically crumbles because the foundation crumbles everything built on top goes with it it's like a building if the foundation of the building is not solid the whole building can fall over it doesn't matter how fancy the floors of the building are right you could have the best kind of like building in the world at everything but the base but if the base of the foundation is broken then everything goes with it that's the same thing for these technologies so yeah i just i mean i i guess like i'm trying not to take a two negative negative spin on this starcraft's obviously doing a lot of amazing work within the ethereum

layer 2 kind of ecosystem they have stock net coming out later this month uh they're killing it right but as i said before i'm very glad they have competition from polygon now because i don't want just one team monopolizing stock technology or kind of you know zk roll up zk technology because what ends up happening is if they did that then we would be at the mercy of kind of like these vcs over the long term and really web 3 just looks like web 2. and i i discussed this on one of the refuels recently where i basically said i don't want to see web 3 basically get co-opted by web 2 by the same people that that own web 2 and and kind of like take it all over and and you know re-centralize everything that is the nightmare scenario for this ecosystem but anyway

uh love negative's gonna spin there but i saw so many comments about this that i felt like i needed to give my opinion but great to see this i don't know if they're gonna do another series d funding round maybe um i don't know if they're gonna do a token or when they're gonna do it maybe they do it soon who knows but interesting to see they go to a series c as i mentioned before most crypto projects don't even make it to a series b they stop it like a series a and they issue their token but it seems the l2s i would i'm actually going to just assume here that the l2s are having money thrown at them like nothing else and and basically that what they're doing is they're like okay well you know these vc's are throwing so much money at us

let's just take it and then let's just get let's get a higher evaluation and then it's just better for us in the long term when they do their you know inevitable tokens so i get what they're doing i can see it um but we'll have to see if they go to a series d here um interesting to see that but yeah congrats to stark we're on the raise so a zk sync integrated with another partner today blockchain.com i mean if you've been around crypto for a while you know blockchain.com they've been big for for a while now so really really great to see that uh i wonder what this is going to be um i think you know blockchain.com ventures part uh firm um i should say invested in zk sync of course in the latest round and i explained all this yesterday um but i'm

interested to see kind of what this integration looks like will it be a onboarding and off-boarding with fiat will it be kind of like a wallet uh kind of like uh integration something like that i'm sure there will be lots of stuff going on there but really really cool to see this uh i'm gonna get through the rest of this stuff maybe relatively quickly i realize i didn't realize how the time it's already at 21 minutes um so little cohen resubmitted his proposal for unisop to incentivize liquidity mining on l2 so it's live on snapshot at the moment you can go to the link here to check it out um obviously i mentioned last time this got rejected because there was i think one whale voter who basically rejected it because they thought liquidity mining wasn't healthy which i mean i went through it last time

i think they were short-sighted here i think liquidity mining is extremely healthy when done right and by done right i mean when incentivising to move liquidity to a new ecosystem such as an l2 because essentially what you're doing is you're kind of like uh bootstrapping that growth fixing the chicken and egg problem and getting people on there so uh i'm curious to see if this passes i hope so i think um little cohen has like backing from some big unit swap delegates for this one as well so i'm hoping to see this pass and then hoping to see liquidity mining or unique kind of token rewards on average optimism that would be really awesome i reckon we get so much more kind of capital in there and so many more people playing around with it and it really kind of like kick-start that flywheel effect for these uh for these

l2s such as arbitram and optimism so nick johnson from ens uh shared this uh i guess like dow proposal today or ens proposal today uh that was uh the that says that they was considering whether to send additional tokens to users that missed out on the two times multiplier on the ens airdrop because the account where the primary name was not the account that owned the name so you can you check out the kind of like discussion here on the ens governance forum and if this would apply to you and kind of like how this is all going about it i'm pretty cool with this i think like making sure that that people are whole and made whole if they did everything correctly and they missed out on the airdrop is always a good way to do it uh so apparently just under 2000 accounts

missed out on this which equates to about 213 000 tokens it's not too many tokens in the grand scheme of things i mean the total token supply is 100 million so that is a very low percentage of the token so it's not going to cause uh you know any kind of like uh any stress for anyone there but it will give these kind of like accounts the ans that they're owed so yeah definitely go check this out if you're interested uh rainbows mobile wallet uh they're teasing a nft integration here so you can see they've got a bunch of kind of like cool graphics here showing nfts and being able to view your nft being able to view its last sale price the floor for the collection uh being able to showcase it and share it this is really cool i mean as i said before i

think the wallet that does nft integrations right along with d5 integrations is going to be the one that onboards the masses and rainbow is definitely one of my favorite mobile wallets i i definitely am very partial to argent as well and there's a few others out there two that i've used in the past but i've mentioned before i'm not a huge mobile wallet user because i'm just on my computer all the time i don't feel the need to use my mobile wallet um but you you know with wallet connect you can actually just like have your mobile wallet do things um on your on your desktop right which is really which is really really cool so yeah cool to see this teaser from from rainbow here um a big proposal that came out today from the faye protocol and arari uh capital communities was a token merger

uh proposal so this would merge the uh rarity capital kind of project and the rgt token into faye protocol now disclosure here i'm an investor a seed investor or series a investor sorry i should say infay protocol but the reason i wanted to briefly talk about this was because i think we're going to see many more token mergers as time goes on because if you have a project that synergizes really well with another project it probably makes a lot more sense to instead of going at it separately combine together and you combine all your products together and kind of like make the communities one so you can do more and go further and that's exactly what is proposed this hasn't happened yet this isn't even a sure thing this is just a proposal that exists on the governance farms for both rari capital and faye protocol but

essentially what this would do would be to merge rari's products into fae uh because faye has been a big kind of contributor to the rari project has done a lot with their fuse pools and stuff like that and basically work to create a perfectly symbiotic relationship between the two projects under one token umbrella which is the tribe token so yeah i mean you can check out uh joey uh who's the founder of faye protocols thread here we'll link to the youtube description you can also check out jays which is who is the founder of rarity capital his twitter thread here as well i definitely recommend giving both a read checking out the governance post checking out all the comments because this is governance in action at the end of the day this is a really cool way to kind of like see something that is a major change for

both protocols playing out it's actually probably more of a major change for rari because they're the ones that are giving up their token and kind of like merging it into tribe and basically still going to have their autonomy still going to have their community but like you know we all know a token kind of is like the best way to forge a community and if the swap is done right and like people get the same amount of tribe as they have rjt in terms of dollar for dollar value it makes a lot of sense so i like it i like to kind of like reading what they're trying to do i agree with what they're trying to do i think it would make uh both teams stronger and there's a bit of a meme that was saying like is this d5 3.0 maybe it is maybe people going to

meme this and market this and be like hey like you guys are still in d5 2.0 land we now have d5 3.0 i'm sure people are going to talk about this and meme this i mean they always do but yeah interesting proposals definitely go check these out so nifty island uh they've been quiet a bit recently but they put out a teaser of their an early look at their build system so just a quick reminder here nifty island is trying to be like a home in the metaverse for people where you can have your own island you can build in it like a minecraft style building thing um you can have your own nfts on there and everything of course and it'd be true kind of like metaverse native now this is a project that i've been excited about since basically day one i mean i i know that i brought it up on

the review and a lot of you kind of like discovered this project because of me um which is awesome like i love i love it when that happens but basically this yeah as i said just like an early look you can see from the video here um i guess i'll just play the video kind of from the start here you can see in the video early look at the building system it seems like it's very far along right now which is really cool i mean for those of you who have played minecraft and maybe even animal crossing you'll know like how these building systems go and how how like cool and versatile they can be i'm very much looking forward to this because actually the one thing that i was thinking about today that has always annoyed me about video games and collecting things in video games is the

lack of permanence because in world of warcraft for example i used to collect a lot of things i used to do a lot of the achievements i used to collect a lot of the mounts which is these things you ride on to get around and they'll you know all different mounts the mini pets that you get that can follow you around and there's other collectibles as well i used to collect it all because i really enjoyed it but always in the back of my head i had this nagging feeling of this isn't permanent like there's no permanence here like if blizzard was blizzard the the developers of wow was to shut wow down and shut the servers down that's all gone i have no claim to that i have no control over that there's nothing i can do in that in that kind of like arena and you know

they can change things they can reintroduce items and get rid of the rarity of some i remember they actually reintroduced a um amount once they just slightly changed the color on it so it wasn't like the original because you couldn't get the original anymore and it kind of pissed a lot of people off where they were like well what's my original kind of worth now you couldn't trade the items either but like it was all about flex right and kind of like uh online social capital uh but like for me it was always the permanence thing whereas within the metaverse when you have nfts stored on a permanent kind of like settlement layer permanent ledger like ethereum and like these uh kind of like r-wave or ipfs or file coin and things like that you have true permanence and especially when the games themselves the game files are open source so anyone

can host the game anyone can live in these kind of like ecosystems anyone can do what they want uh and then you have like provable rarity for these things as well so i mean wait still early days and all this sort of stuff but that's what gets me the most excited is that we're finally going to be able to have permanence in things uh instead of kind of like always having that nagging feeling at the back of our mind that we could get rugged at any moment right and things could get changed at any moment so really cool to see this a major reason why i'm excited about projects like nifty island all right finally here an announcement from milwaukee so if you're going to ethemvi which i hope a lot of you are because i am i'm definitely going i haven't booked my tickets yet but like

i'm 99.99 going if you're going to eat denver there's actually going to be a one day uh kind of um uh i guess conference or one day kind of like a celebration as oaky is calling it here called shelling point on the 17th of february which is as i said one day before um 8th denver that is going to celebrate mechanism design coordination public goods culture and regenerative finance uh there's a lot of great talks already lined up from a lot of great speakers you can see here already david hoffman austin griffith vitalik of course uh and then for all obviously following this event will be eighth denver so uh i'm hoping to see as many of you there as possible as i've mentioned before this will be my first conference since uh february 2020 before co look over the panda at pandemic and that 8th emma was my last conference

back then too so um yeah very much looking forward to this i hope to see you all there uh but i think that's it for today so 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