Web3 rollup: Pudgy Penguins in Walmart, unclaimed ARB and an Xbox crypto wallet

Transcript

GM GM welcome to Webster Academy your one trusted source to capitalize on the next big phase of the internet don't get caught in the hype cycle I'm jay bird joined by my co-host Kyle reedhead and we believe that meta AI glasses are going to change the world that's why we're carving a path for doers to confidently build and invest in web 3. I showed my girlfriend those glasses yesterday and she immediately looked at me goes we're not wearing those we're never going to wear those why it's like we're not going to change Heather's world that's for sure listen this episode is gonna change your world because we got a lot we're going to talk about Pudgy penguins are in Walmart 2 000 Stars this is a really big deal nfts have rated 59 million dollars

in ARB tokens which are unclaimed plus a big time airdrop that you might be able to claim to talk about that Xbox crypto wallet is that a thing is that happening is Microsoft moving in on our crypto Pokemon is and because Pokemon is now on chain so we're gonna of course talk about that we'll talk about some non-on-chain stuff in terms of what Chachi BT is up to as well as of course meta and their new AI glasses and then Gary Gensler the most hated person in crypto is getting ripped over on in DC right now so we're going to talk a little bit about that as well we've got a lot going on today Jay damn I feel like I missed my intro my intro should have been did we Gary Gensler is not going to change the world I missed my opportunity to roast Gary I

couldn't jump on the Gary roasting that was happening all day yesterday there's always another week my man there's always it's true until he actually gets fired which yeah he does that would be crazy gratitude Kai it's so good to have you back you've been off for two weeks because I need to have you back that you want to start us off with some gratitude today yeah absolutely I am grateful for my mother we celebrated her 70th birthday last night and so happy birthday to my mom Sue she's the greatest mom in the world as I'm sure everyone likes to say about their own mom and uh was excited to take her out for some some dinner we went to a Greek place and called Demi's in London Ontario and at the end they give her a shot of of orzo I believe it's called

and then uzo yeah uzo and then they give her a plate and she has to smash it and it was so funny we're trying to smashed this plate she was like oh anyway happy birthday Mom happy birthday Sue what a gem just a beautiful human always got a big smile on her face I'll never forget Kyle and I lived together at one point a few years ago when we first started our business and Sue came down and was just so helpful helping Kyle set up his room and get no getting all set up that she just loves to help and also loves to paint I remember her painting around I think I don't know why that I don't know if that happened but oh that's at my oh it's your original yeah yeah all right what

are you grateful for Jay I am grateful for my dog potato he is absolutely nut and drives me crazy half the time because he got so much energy but he gets me outside every day for at least two walks a day and right now it's raining a ton in BC where I live in Worcester in the mountains we're just getting into rainy season and if it wasn't for potato I would be probably more upset about the rain but with him I just have to get inside I have to go for a walk and you just live with it and now don't really care so much about the rain and still walking so shout out to my little four-legged guy potato

yo Jay another missed opportunity you should have been grateful for having me back but hey I'll forgive you I I said I was happy that you're back at the beginning you got double gratitude I want I'm happy to be grateful double dip the chair I can't deal with that man uh okay before we jump into today's episode we got a couple exciting announcements at a Webster Academy Kai we've been talking about moving our business on chain uh a lot over the past few months and we just took another big step this week what do we do yeah Jay and I've been talking about crypto payments for a while every time with stable coins so that's the killer app for crypto and so we've been moving our business on chain as you guys all

know we've moved our newsletter on chain we have our membership which we have nfts which are of course Unchained and a bunch of other things and so now the one big thing and we've actually this came because a few problems we're having with Strife is we have listeners from all around the world and readers of our newsletter from all around the world who want to pay for our products they want to buy our Master Class our investing course they want to pay for the the pro membership and some people have difficulties with their bank accounts if you're in India if you're in places like Pakistan and Iran you struggle to connect at Russia of course right now and in many other countries around the world you struggle to use often to use Stripes some you're just not allowed and sometimes their Banks just don't let you

do it and so one of the big things that we think crypto enables to the world is Global Payments right if you can have use crypto there's no one that can block you it's peer-to-peer and so anyone around the world can buy things digitally and so that's why we have just launched crypto payments for our web3 investing master class so if you're looking to learn how to invest and take advantage of the next big phase of the internet if you want to learn how to take advantage of this on-chain world that's coming this master class is the best way to get the foundations to set you up for Success we launched the course a few months ago and now we've enabled crypto payments we've also just launched today a few more support for a few more chains so you can purchase on ethereum you can purchase on polygon

Solana arbitrum optimism and bass so there's six different chains you can purchase in usdc usdt ethmatic I think Soul even so the list goes on so lots of you know whatever you've got you can do it you don't have to Bridge and all these things you can just likely you have some some crypto in one of those chains and so you can just connect your wall and do it it's really cool to do we're excited we had our first purchase and it gives yesterday which was on polygon using usdt so just interesting to see where people have their money how they're going to pay for things so we're excited for that we will eventually get our membership on chain as well for those of you that want to sign up for Pro with crypto a little bit more of uh you know work for the devs on

that one because it's subscription so it's a bit different and then I guess actually to celebrate our crypto payments we're also offering a 33 discount on the course and that expires next week I believe on Wednesday so the link is in the show notes below if you want to get that course you want to try paying with with crypto go do it now's your chance and Now's the Time to do this too because we are in a early setup phase for a bull run that is coming at some point not sure when but now is the best time to be learning how to deploy your capital and this course is going to give you the step-by-step guide to ensure that you can really significantly increase your wealth in the next few

years well and actually that sets up perfectly we're gonna do a market watch so I'm gonna dive into that and actually talk about timing of the market right now and what's going on but before we do that we're going to take a quick second to hear from our sponsors and then we're diving into MarketWatch and all the news that's happening in web3 modern newsletters are built on paragraph that's right paragraph is a brand new newsletter platform that combines the best parts of web 2 and web3 to supercharge newsletters for both writers and readers build a community not just an audience paragraph uses blockchain Tech to allow readers to collect and own the words that matter to them this takes reading a newsletter to the next level where paragraph readers can mint collect and show off quotes from their favorite

newsletter this opens new possibilities like creators sharing Revenue with fans I also love their new feature paragraph AI this integrates gpt4 natively in paragraphs create edit and improve your writing effortlessly with one click and guess what we at web3 Academy are on board and have already moved our content over to paragraph We believe this is the future of newsletters because of profound engagement it creates between creators and fans so whether you're a Creator writer or an Avid Reader it's time to check out paragraph and capitalize on the opportunity of being early alright friends we are back let's

talk about what is happening in the crypto markets right now and really what we'll talk talk about first is actually what's happening in the broader macro markets so I want to touch on what we can see up on the screen for those of you that are watching YouTube which is we think the eth Futures ETF is literally going live in the next couple days I'll explain why just a second but before we do let's just talk about macro we're still in this very weird area of the transition this is where you're going from sort of like the the trough moving back upwards in terms of the business cycle that we've sort of been talking about which is talking about inflation interest rates Etc everyone is a little all over the place at the moment because inflation was falling really fast over the last year and then

it kind of got stuck and held up at three percent were actually kind of jumped up a little bit and so people are again getting scared a lot of people were predicting that this would happen that we'd have this big jump up and we're going to go back up to high or sorry High inflation and so as a result we're unable to lower interest rates which is everyone's a big concern then there's concern around growth and recession and blah blah blah blah blah blah we kind of talked about all this and my sort of view and thesis on what's been happening is inflation is going to continue to go down I think we live in a very deflationary world at the moment the inflation that we had that was so high was just supply chain issues which has pretty much gotten resolved and we're just following a typical business

cycle I don't think this is as confusing as most people think and I still stand by that thesis today even though most people are still tripping the hell out I'll tell you why the main reason first of all interest rates paused last week and so we have stopped at least in the US and most big countries around the world now does that mean they're going to cut right away probably not but here's the big situation people are thinking because we went from three percent back up to four percent inflation that we're gonna Skyrocket again inflation's just out of control this happens every single inflation cycle which is basically every single business cycle this is what always happens with inflation it skyrocketed down and then as we're turning over it stops and stalls sometimes it'll go up

just a little bit and then after a few months it goes back down to why does that happen well what's happening is when inflation starts to go down we can expect that interest rates will eventually go back down and growth begins to pick up and we start the next phase of the business cycle this is normal that's the stage we're at right now when you hit growth okay when you hit that business cycle part where there's growth and we're going to start having you know potentially money Printing and lower interest rates what happens people start to buy things again right now that's not happening today this is six to nine months in advance but we'll want to buy things what do we need we need to produce more goods and so what's happening right now companies are beginning to buy more things are getting ready to which means commodity

prices go up the goods the the materials we need to buy things or to build things sorry those start to increase right that's what's happened if you're in Commodities right now you've done really well the last two months right a lot of Commodities have just skyrocketed done really well and this is again because companies are looking ahead right we're looking ahead in the business cycle and so Commodities have gone up which is what's caused this blip in the inflation down cycle now it's also happened at the same time and this again always happens the the biggest part of inflation is shelter and rent this part lags by it's something like 9 to 12 months I believe something like that it might be 18. I can't remember and anyway it's just rolling over right now and that makes up

about 60 to 70 percent of the entire CPI index the thing that we measure whereas Commodities are only about 17 so Commodities might continue to go up but it's not going to continue to make that big of a difference as long as shelter and rent goes down which is what's about to happen it's already beginning to roll over so this always happens Commodities go ahead of schedule they start to pick up as sheltered rent and everything starts to go down but we're in the phase where the shelter rent hasn't gone yet but the Commodities have beaten it and so this happens every single business cycle if you look back there's always this blip in inflation that occurs every single time and so this is just normal and on schedule if you compare the chart of this inflation in terms of percents of course we went up a little bit higher

in terms of nine because the splash is but in terms of the percent change it looks identical to every single one we've had over the last like 30 40 50 years so if you're really paying attention then it looks like this is just the same typical type of recession and I put that in quotes because you don't really know that we always have and inflation should still continue to go down it might take another month or two for things to really like change over here but my guess is by the end of the year inflation is much lower than it is right now and so don't get scared and spooked like some are it appears to be moving the same as normal and to go with this we have some good news finally in crypto that's coming up here so if you saw I think it was two days ago the SEC

unfortunately delayed The Arc um Bitcoin spot ETF once and they did it ahead of time they didn't have to do it until a couple weeks they just did it so people were like oh this sucks like yes you see us and quite figured things out yet but what's happening is and I'm not going to get into the politics of all houseworks but the government might shut down in the U.S on like October 3rd because it's just I don't know whatever the government does they haven't figured out funding and so they're just gonna like shut down and all non-essential government workers will just not work and not get paid which is just ridiculous that that's the world we live in but that's what's happening so what the FCC is trying to do is get a bunch of things finished before that happens which I believe is on the second or the

3rd of October so the beginning of next week so what they're trying to just finish off a couple things and there's two things that having one that one spot Bitcoin ETF was delayed but what we're hearing and this just came out this morning from Eric Balcones I believe is his name he's the ETF expert he's hearing that the SEC is actually going to quickly approve the ether ETF Futures ETF not spot which they're supposed to do at some point next week they're going to do it probably either Friday or Monday and pass that just to get it off their plate before everything shuts down and so today there's Valkyrie has just launched their own ethers ETF as a result and then what happens is over what what the SEC has said is

they're going to go and approve so everyone needs to finish their paperwork by Friday so all the companies right now are like in trying to get this done like within 48 hours which usually is this takes much longer and so whoever can get it done supposedly is going to get this approved on Monday and they're all going to launch at the same time on Tuesday so anyway that's the word I don't know for sure but if that happens that's super exciting and amazing for eth and Industry at large that's really cool and then again macro seems to be in my opinion looking quite well we've talked August September or tough months in crimson so October is where things really pick up and so I think probably another give it another week or so and I think we're going to see some good things happening this month again can't

guarantee it no one knows short term but that's my guess I think Q4 is going to be a nice quarter for this industry so good things ahead in my opinion wow that would be incredible if they push this through that fast amazing and the government's shutting down is just ridiculous but maybe it's actually a good thing because it's putting a fire under their butt to get some stuff done make sure you guys are following us on Twitter if you're not because we will keep you updated as to whether this gets pushed through and this happens Monday Tuesday we could see some nice liquidity coming in starting on Tuesday when this starts to trade we'll see we'll see I mean it's it's just archers it is just the future ztf it's not spot but it gives some legitimacy to eth which is kind of gives legitimacy to the broader

space in terms of like salon and others so it looks good it looks lots of media potentially around ETF yeah around sorry around 8th yeah good things coming all right so go get your course pay with it with crypto and you'll make more crypto by the end of Q4 promise yeah I'm not gonna do that yeah don't don't promise that this is not Financial advice disclosures included it's uh um one more thing that we forgot to mention off the top next Tuesday in our Discord we're doing a monthly eyes on chain event so that's actually also a good timing if you're trying to figure out you know does this is this news happening what's coming out how do you react to it how do you think about your Investments show up to our Discord next Tuesday at noon Eastern and we've got an hour-long event where we look deep on

chain at what the trends are so that will be another place where you can stay informed okay let's go over to AI some big news coming out of both open Ai and out of meta Kai what is going on yeah we talk a lot about the exponential age which is where a bunch of Technologies are all converging and kind of getting adopting and reaching the reflection points all at the same time that includes blockchain and crypto that includes AI that includes robotics that includes like evg's learning machine learning so on and so forth so obviously we've had a big year for AI chat gbt has been great for many well chat gbt just got a bunch of upgrades in the last couple days the

big one that dropped yesterday is that Chachi BT can now browse the internet meaning if you play and it uses Bing so previous to this chat GPT only worked or new information up to September 2021 which was like that kind of sucks things move fast in this world it's like a lot has happened since September 2021 and it doesn't know any of that now it can browse and what's really cool is like I asked to find me the smart contract for a specific protocol and it you can see where it's you can actually watch chat gbt scan the internet so you can see what sites it's on and it went to like a couple it went to the budget payment site and then it went to etherscan went through etherscan and found the Smart contracts address and then sent it to me

and I was like well that's really cool so it can start to just like explore the internet it can learn things from any website it can get you things so like that's just a massive unlock but there's a couple more unlocks that Chad gbt just did which is to add to this is just so massive so one you can upload pictures into chat GPT now well actually so this will launch in the next two weeks but they just announced this you can upload pictures and it can understand what those pictures are and then give you advice from that so one of the things you could do the example they showed was someone needed to I think it was like fix the the seat of their bike they wanted to move it up but they didn't know how so they took a picture of the bike and chat gbt looked at the image

and said okay you've got to move this like you gotta unlock this handle or whatever and you're going to need some tool to do it and so it explained how it pointed out where it was like but you're gonna need this tool and so the guy was like okay I have this like tool case can you tell me if I have the tool and he uploaded the picture of the tool case and within that it located the right tool that it needed with the right size and told them where it was and then explained how he could go and change his bike seat so like think about you're on the side of the road and your car stops working you open up the hood of your car and you have no idea how to fix an engine well now you just take a picture of your engine and it starts walking

through what to do and how to fix it insane absolutely insane that I can do that now look is it perfect no but that's incredible the other thing that it can do is you guys remember dolly which came out a long time ago they have a third version of it which they've now integrated into open Ai and I think this is also coming the next two weeks as well which means you can put whatever you want to Chachi BT and it will spit out an image of it so you used to be able to do this just in the dolly website but it didn't have the ability to like learn and like keep talking to it whereas Chachi BT you can keep teaching it the images you want and then you can upload other images to show like here's what it should be like so the

level of like usability of chat GPT in the next couple weeks is just it's just unbelievable I think we all need to reframe the way that we're thinking about AI uh I think too many people are thinking about AI as it's going to replace me that is the common narrative I'm going to lose my job because of ai ai is going to replace all the jobs reframe that AI is your fret AI is your partner that is right now into going to let's not get into this dystopian future it is a a boost to everything that you do and if you start using it now and

chat GPT is the obvious tool to use because it has the most abilities then you're just going to become more productive more capable more knowledgeable faster more efficient all things that we all crave and I don't know all this fear look I get it there is potential for AI to go and be dangerous in many ways but like I just think it's such a natural fit into our daily lives and it's incredible the rate at which it's growing they can now like open the eye just launched what a year ago and now it's updating all these new features constantly because it's an AI itself and

it's teaching itself so it is also exponential in the way it launches features so yeah I think everybody just jump in and start using chat GPT and you will benefit in enormous ways it's incredible and if we move to meta this is why kind of we want to talk about this so well first of all let's go back to the on chain World which is what we care about here at web3 Academy and we think now the more that chat gbt is capable of doing the more we need authentic authentication through on chain signatures I don't know that people are realizing how important this is and it's going to accelerate crypto so so so so so fast again is it World coin who does it I don't know don't care but on chain media on chain everything is going to be needed to manage this

whole AI Revolution so again these two technologies are sort of like growing exponentially on their own but then together they're forcing each other to grow even faster so it's pretty pretty amazing but then we look at what just happened here with meta so you guys remember Apple launched the what were they called Apple Pro visual Vision Pro yeah which are basically these goggles you wouldn't walk around with them but you would you know you might sit at your desk them to play a game but more it was more for like work efficiencies that we sort of saw with it cool things like watch movies and stuff they're really cool where it's like VR or ar you can do kind of both with them but again you're not like using them out in your daily life well meta just launched smart glasses in partnership with Ray-Ban so

these are like you could wear them they'd actually look like the glasses I'm wearing on my face right now almost the same and these are sunglasses and or glasses and you can walk around with them on and they actually have ai built inside of it and so the best thing you can think of here is think of what we just explained with chat GPT and then put that in your glasses okay where I can show you some augmented reality within the glasses or it can speak to you so here's some examples of what these glasses can do I just said chat gbt you could upload a picture of your bike and it could help you fix it well now you don't even have to do that you don't need to take a picture you don't need to upload it you don't need to do any of that you just

look at your bike and you say hey meta or whatever their AI is called how do I fix my bike and it just looks it finds the bike from your glasses there's a camera in the glasses so no pictures needed you don't need to pull out your phone or your laptop and it just looks and it starts showing you in your in the lenses of your glasses it doesn't take over your full screen but it shows you almost like a chat and tells you what to do or I think it can speak to you I'm not 100 sure haven't looked into that but I think you can hear it as well but I know that seems odd that you need like headphones maybe but anyway it doesn't matter how it relays the message either way it can just immediately relay the message to you on like what pyramid

you're looking at what building that is when it was created you know why it exists how to fix my bike how to fix my engine it can just do that directly in the glasses you can look at a sign in a different country in a different language and then just immediately translates it for you so right now you can do that with a Google app I was doing this when I was in Portugal where you can pull out your your translation app take a picture and then it auto just like puts it in English for you and you can read it great but you still got to pull out your phone right you've got to take the picture and then it does it this just does it live automatically in your glasses you don't even see the other language you just see your language crazy then the other thing is think

about you know your face timing and your want to show your parents your kids you got to play with your kids and you got to hold your phone in your hand and like you know let them be able to see what's going on well now you can live stream whether it's a call or live stream to Facebook or Instagram you can literally go live and people just see what you're seeing because it's right in your glasses so the development here of the hardware kind of things plus the artificial intelligence is just like completely Next Level and I just it's happening so fast right like we just had chat gbt in November of last year we're not even a year There Yet the AI or sorry the AR type of thing really just kind of didn't even take off but like became this like sort of reality from Apple but it was

still these goggles and everyone's like meh I don't know and there's three thousand bucks and now all of a sudden it's in our sunglasses and our glasses like it's just happening so fast guys to think where we're gonna be just in 2025 I don't think people are realizing how fast this is all going it's pretty wild you know who's not going anywhere fast is our boy Gary Gensler because he is just getting absolutely roasted yesterday he was in front of Congress being just yet just attacked by everybody Kai you want to break down what happened here yeah we'll actually go to the other ones first before the Gary one but so what's happening right now is obviously the US

has not been very fair to crypto and honestly the U.S Regulators have a lot in their hands I mean look at what we just talked about with the AI how are they going to keep up with that they've also got everything going on with a whole new Financial system that we're creating here in crypto and then a whole new internet essentially with this on chain World they've got to figure out what they're losing control they have no idea what's going on they're still trying to figure out the internet and now we have artificial intelligence blockchain like AI AR like VR like it's next level and so right now obviously we've got a lot of problems in the US specifically with blockchain and so coinbase has been pushing a lot to try to get Fair regulation which we want regulation and so they've created the stand with crypto we've talked about

it's been a free mint of ours for a while but what they did over this past weekend because scare against learned a bunch of others are going into Congress to or Capitol Hill to discuss crypto policies so what they did is they had over 45 Founders in the crypto industry so Brian Armstrong from coinbase web Matt who we have another podcast from xmtp Kevin owaki from git coin and many others who all showed up at Capitol Hill to talk with politicians let them know like hey here's the products we're building here's how it's changing lives um here's how we're hiring so many Americans um like you guys need to get on board here and figure this out and so they had over 45 Founders show up the whole coinbase team in terms of like their

legislative team et cetera all over there kind of rallying together and uh and trying to promote that hey 52 million crypto owners in the US but they use crypto it's crypto is bigger than the US than uh Uber right so more people use crypto than they use like ride sharing apps and so it's like hey when are you guys going to pay attention here and get on board and so the funny thing if you see on the screen here Gary Gensler was I'm not even sure what you call it but he was up talking about legislation and stuff like he had a hearing basically and so they were asking him a bunch of questions and so in the background of this picture those 45 crypto Founders they showed up and went behind him and you can see a standout side in the back there to his

left over shoulder and then on the right someone's holding up a phone with the nft of the stand with crypto shield and they're holding up their phone showing that as well so they were kind of photobombing here against her while he was doing his hearing which is pretty funny so people were asking you know is Bitcoin to security is eth security and Gary's doing what he does where he kind of just jumps around and doesn't really give a clear answer and so this gentleman Richie Torres comes up and he goes if I were to purchase Pokemon card would that be considered a security and gear against just like uh no I don't think so and he goes okay now if I were to tokenize that Pokemon card on a digital exchange via blockchain and buy that Pokemon card would that be considered a security and curious

basically he didn't say yes but he said I don't know it would depend and he's like why would that depend but if I bought the physical one why would that not matter you said no to this one but you said it might be for this one what's the difference and he's like so basically just because it's wrapped at the token now all of a sudden that means it's security and Gary just like didn't really know what to say he kind of got him on it it was a really good comparison and so anyway Gary's just getting crashed out there yes you kind of feel bad for him but not really because it's live stream to the Internet so everyone can watch anyway so there's a just this is all to say there's a bunch going on on Capitol Hill right now and a lot of really solid Founders in

the industry are kind of leading the way and helping push good regulation in the U.S and hopefully that happens if not we're moving forward anyway but maybe the US will be with us we'll see it really it does feel like it's building up to a Tipping Point that's coming to the no I I don't know when and the government's shutting down how long that lasts coming soon the government's going to go on vacation like yeah exactly so but it does definitely you can feel the the energy you can feel the pressure you can see if you go and watch any of this that there is more and more congressmen on both sides the Republican and the Democrat side that are frustrated with

the way Gary Gensler is handling this there's more and more people from within the SEC there's been two SEC Commissioners that have come out and said that their way that they are regulating nfts is wrong so it's just like more things pilot and piling and I think that we will reach an inflection point soon but like you said Kai it doesn't matter we're moving forward regardless so it's decentralized protocols there's nothing they can do about it and it's Global so it doesn't really matter I mean the us obviously is a big market so we want it and I mean we're about to talk about an airdrop and uh we gotta say the US cannot be a part of it we're talking about the next with Celestia so it's a tough world out there for America that's for sure well before we talk about that you know

what else is global is Walmart Walmart that's true is now selling pudgy Penguins that's right this is a huge step for really the entire nft industry shout out to Luca Nets and the whole pudgy Penguins team the you will now be able to purchase your little pudgy Penguins plushies for nine dollars in a Walmart they'll be in two thousand eight dollars and ninety eight cents in typical Walmart fashion hey thank you thank you so let me just give you the tldr on this there's 26 different pudgy toys sold in Walmart the prices actually range from three dollars to twelve dollars but the

one that we're currently showing on screen is 8.98 and here's the cool thing how does this involve on chain this is just a little toy well when you buy this toy it comes with a QR code if you scan that QR code you get access to pudgy worlds you unlock an entry into their immersive metaverse and the way you enter is when you scan that QR code you claim an nft which is actually a soul-bound nft that then now you're in their pudgy world it's on polygon this nft and the other cool thing that they're doing here is there is golden tickets so Random toys come with a golden tickets

which what is that golden ticket do it unlocks rare traits in pudgy world so you might get something more rare now in pudger world if you get rare traits those are actually not soulbound tokens you can sell those you could also buy them so you could win something that could be worth a whole bunch of money you can imagine some kid unlocking a rare trait I feel like the cool thing about this is like I can just imagine the number of kids that are going to buy these and then they're going to go and scan the QR code and enter pudgy world and their parents are going to have no idea that their kid is using crypto now and has nfts because this is how it will happen it'll happen

in a much in this account obstructive way where it's not necessarily with the purpose of nfts it's with the purpose of just playing in this metaverse and playing this game being able to interact with your Penguin online the thing I love about what Luca Nets has done is he's just created a business right with an amazing brand that will go mainstream has nothing to do with crypto nfcs at all but underneath there happens to be a technology that allows you to do a cool experience by minting an nft you don't even know it's an empty now there's a collection of entities of course that people speculate on that are on the side but people buying these toys have no idea that exists they don't need to know exist they don't need to ever interact

with it and none of it actually matters there's just a mainstream business of toys and an Instagram account that's massive and probably they're going to create a TV show or what like who knows where they're going to go with it they can do lots with it and it's just a brand of characters and that is absolutely amazing what I really like about this is you know we talk about last on Monday we or Tuesday I guess when the podcast came out we talked about speculation plus you know how blockchain allows for speculation and on chin apps and a certain amount of people are going to like that like friend Tech and that's fine and they can do that that's where the regulatory concern is is the speculation side of crypto and okay so that's maybe a good thing maybe not a good thing like who knows where

that goes but then there's the other side of blockchain which just allows for better experiences and non-specative things like toys and entering into a metaverse using a solver Mt where you can't make any money off of there's nothing you can do with it you just can use it because that's what enables you to have interoperable experiences on the internet there is no speculation there is no worry of any security or anything like that right then you have stable coins which same thing there's no speculation it's just a dollar that happens to be on better rails like there are what I'm saying is there are use cases on blockchain that just have nothing to do with the speculation Degen side that are going mainstream and that to me makes this whole Space inevitable is you have both designs of it and this is like

pudgy Penguins is just leading the way in that I love it it's like we use you know nfts for our Pro membership it's not a security there's nothing you can do with it it just it enables us to give you access to certain things and that's to me the beauty of on-chain stuff is just that it can do more things for you I think that's just super cool now in this instance too you gotta admit that t gas fees are being paid not by the user I think it's being paid probably by pudgy and not right now but when polygon becomes an L2 and ethereum those fees will go to ethereum as they usually do it will go towards Matic and so again holders of those technology tokens the protocol tokens they will benefit from kids buying toys which is unheard of in this world so really cool the other

question that I think comes up for everybody here is when we see an nft project like pudgy launching products that they're selling does it accrue value to its holders right now right like what is the value accrual plan for nfts well in the case of pudgy they have licensed these 26 characters from the original nft holders I can't find the last time I heard they're not this isn't on chain yet and they haven't like publicly released this but the last time I dove into this I wrote a pro report on pudgy a few months ago if you

want to get the full story you can go back and look at that and basically what Luca said was right now because it's so few of these deals that they're doing like they're only licensing like you know 26 characters right there's what 10 000 Penguins probably there's ten thousand exactly so sorry there's 888 okay and they're just doing this these like one-off deals basically right now but their objective is to build an on-chain way that they can do this these licensing deals and that's what everyone thinks is Project overpass if you guys follow closely the thing that they've been talking about for over a year now is Project overpass and I believe the project overpass is them figuring out how they're going to do

these licensing deals how they're going to accrue value to their entity holders and they keep saying that that is coming soon so we'll keep an eye on that because that will likely give us more hints as to how they're doing that the other thing is look when news like this comes out pudgy went up right like Pudgies are up 10 maybe even 15 they're now the number three pfp behind just punks and apes they flipped over top of mutant Apes wow talk about the number of three pfp collection in the world and they're up so like there is this just like investing in stocks right and equities when there's news about your company that is favorable the stock goes up and so that is another way that value

does accrue to the holders well and I mean that's a speculative value there's nothing like you said there's no real value occurring to the holder so it's just speculation on that and it doesn't mean anything really but also it's like when in Luca buy this company when you buy a budgie it was a 2021 like two years ago yeah yeah so like also you got to think like Pudgie's been around for two and a half years in existence I wouldn't even want them to give any value to anyone yet they should be focused on building the biggest brand in the world and then eventually they can give me a share in five to ten years because that's how companies work all the best companies in the world Apple Google Etc they weren't profitable in their first two years they weren't giving money to their shareholders in

their first two years it took 15 20 years before Apple was able to start doing that right it took many years for most of these companies they're doing it so like for anyone to already being like okay well you you're now in Walmart you got to give me money because I own your pfp that's just stupidity you shouldn't even want that right you should want this brand to gain its IP they should be putting all of their money in their profits from these toys into growing the brand to become a world-renowned brand and then you can figure out how to get your shares like if I replied you I wouldn't be figuring out that yet like that's years away you should be focused on that so like it's good they are because of the state of nfts you kind of have to do that because people just get

all angry but like I would care less about that right now and I'd focus on just building up the business and then find a way to bring the the value back to the to the holders now if you were a on-chain investor Kai would you be figuring out how to collect your arbitrum tokens you're great on the transitions today and very impressive I mean I've already complained I've already claimed my overtime token so the answer is yes I guess I already did it but the crazy thing though is there's 56 million dollars worth of Arbors from tokens that have been unclaimed what are they going to do with those tokens if they don't get claimed it is done they did not get oh deadlines deadline was passed and they have now been put back into the Arboretum treasury so it's the

arbitrum foundation that manages this treasury there's two organizations with an arbitrum there's off-chain Labs which is the like centralized company that that runs arbitrum and start and founded arbitrum and then there's the arbitrum foundation which is the Dow essentially that is the decentralized arm that controls the treasury so this 56 billion dollars goes back to the treasury not such a bad thing in that way Well Control it by the it's controlled by the token holders so right that's how the Dow was made and that's why I exists and now they can use that to grow and to you know give grants to other companies to build on arbitrim so that's great like why not crazy that people didn't do it I think the reason it happens is like a lot of people lose their wallets they

lose their seed phrases and so they are unable to then go and claim and I don't know why else it would happen people just don't realize some people probably try to farm it with a million wallets and just forgot they have certain wallets too yeah it's pretty wild it's also right now arbitrum Odyssey started two days ago so this is their version of on-chain summer so if you are active with your wallet and you do use arbitrub make sure you check out arbits from Odyssey because there's going to be lots of opportunities to have fun and play on chain which is great this isn't necessarily all speculation a lot of it is just marketing and free nfts and free things that you get for actions on chains so make sure you check that out

if you're in Arbor chart because I think that's a great way for people uh to get involved and not necessarily have to spend money and you'll probably get an airdrop don't quote me on that I wasn't gonna say it but speaking of airdrop Celestia we've talked a bit about that we haven't really Dove deep into Celestia much but there are data availability there we won't go into the technicalities of it but we always talk about the unbundling of the blockchain and there's going to be different layers Etc Celestia has been the one focusing on data availability one of the top in the space for this who's Eclipse I think we saw is using Celestia for data availability ethereum for settlement Solana virtual machine for execution so on so anyway they've been around for a while and they have just launched their Genesis drop so

they're decentralizing governance over the technology just like what arbitrim doubted in order to do that they've got to give out some tokens and so they have done that there's 7579 developers in 500 000 70s let me try this again 576 000 engine addresses that will get tokens now here's the cool thing you did not ever have to use Celestia to get a token the way that they've done this is whether you use Cosmos or you use ethereum in the ethereum ecosystem you may be eligible so the and it goes by activity on Layer Two so the top 50 percent of wallets that are active on layer twos and it's like there's ten different layer twos so they're all the

optimism based like arbitrim Etc all included in there if you're top 50 would you'd be surprised just a couple actions will get you top 50. but you can claim some tokens so I was able to claim I think it was 94 on my like active wallet and then I have another wall that I can claim as well I haven't done it yet and because it's actually my cold wallet so I'm a little bit scared to interact with the any smart contract address with it so I don't know what I'm gonna do I might I mean this could be why people don't claim as well like I'm thinking of not claiming just in case they rug they would then be able to take all my tokens and so I'm worried to go and claim it with that wallet so like I'm not sure what I'm gonna do yet I have joined fire

which is like a think of it like an antivirus type thing that tells me if they can do it and they can't I just you never know and I'd be very worried to put my main wallet and it's always in question of like what's the risk right so obviously you know you'd be claiming is it worth it to claim a couple thousand dollars to put you know a lot at risk right yeah I could move all my assets to another wallet I just like I don't know just wow increase so much work in time we'll see we'll see probably at you know when there's one hour left in that account then I'll just do it because the urgency and fomo but we'll see anyway go claim it there's gonna be a lot of links on Twitter and elsewhere that will be probably farming

and fake so don't get caught up it's genesis.celestia.org that's the website don't click on any other link that isn't that okay that's that and the token is Pia I don't know what that means or why they chose that but that's the token and if you go to the website you can check your availability so don't feel like you need to know if your wallet has these tokens the amazing thing about on chain is all you have to do is give a wallet address you click a button and it will check if you have any tokens available in the same way I just want to highlight our friends Ryan and David over at bankless and the whole Bank list team launched a new product called claimables recently if you haven't

checked this out highly recommend you do on their website and all you do is you post your wallet address in and you click a button and it tells you if you have any claimables available to you a claimable could be an airdrop it could be a poem T and it does this all with click of a button so you can make sure you don't miss out on anything that is available for you on chain that you might not know about were you missing anything Jay I assume you used it yeah I was missing like a bunch of pull apps not you know nothing of value just a bunch of pull-ups that uh show that I did things on a chain but I want the money come on here Jay's not here for the tech he's here

for the money that's right okay next up Xbox is Xbox getting a crypto wallet kind I don't know you tell me here's a story here a elite document came out of Microsoft which showed their plans for their next Xbox now let me just caveat this by saying this document is what one or two years old I think it's one year old I think it's from 2022 and this new Xbox is not even planned to be manufactured yet it's going to come out in like 2026 2020. 2028 is what I thought I read yeah I still think that's

what I saw so we're talking about a leaked document that is you know possibly accurate possibly not but let's assume because it's fun when you finally document that all this is could be real and one of the key things in this lead document this document talks a lot about it's almost like it was like a brainstorming document about like okay what is all the tech that we could include in the next Xbox right and one of the things that they talk about they talk about AI but they also talk about okay would it be smart to include a crypto wallet in the next Xbox Xbox is a piece of Hardware you could make the Xbox a hardware wallet which would make a lot of sense for a couple of reasons

one we are seeing tremendous growth in on-chain gaming well I shouldn't say tremendous growth we're at the early phases of seeing growth in on-chain gaming you can go back a few weeks ago we had kolosh the co-founder of parallel in the podcast what they are building holy moly it is going to take over the gaming world and that's just one game we know that there's many we've looked at IMX a mutable recently in some of our odd chain reports we are seeing tremendous growth on their end through a bear Market because more and more Builders are building games on chains so when that happens everybody's gonna need a wallet and what's even better than a wallet is a hardware wallet so imagine

rather than a ledger imagine your Xbox was your Hardware wallet so for all of your gaming assets that you're using to play on your Xbox they are now secure within a hardware wallet a safe Hardware wallet on your Xbox it makes a a ton of sense I think this is for sure going to happen to be honest if I was Xbox I'd almost be delay I'd be timing the the launch of my next Xbox around when will Market industry is ready for this right yeah that's interesting so to be clear this document would like viral on Twitter everyone was like bullish bullish Bush this was a document from May 2022 which means that this is a

document before the collapse of Terra Luna three three AC like Celsius block fight FTX like before the world hated crypto so my assumption is this is not something they're moving forward with right now but if they're still years away I think the whole like reputation of this industry will change like you said gaming will be you know widely adopted we assume in the next year or so so my guess is this goes back on the table but I would bet they're not really talking about it right now unless they happen to have some like real crypto people in the in the business but yeah everyone is going streaming going this is so bullish like it's not yet but it would be beautiful there's a lot they could do with it which would be sick I also love when like leaked documents

like this come out like I swear that this is not leaked like if this was leaked I'm sure somebody in Xbox did this well is this just like no this was leaked because it's a document they had to to show because they're they're merged with someone Activision or something I can't remember who it is that they bought in the UK they're trying to block it so they had to show some documents so this was part of that that's what I read anyway but probably they because I don't think you'd be leaking crypto stuff right now we're not at the point in the bull market yes they'll everyone will be leaking everything to do with like yeah we were in crypto earlier we wanted to launch crypto stuff uh I don't think that's like a PR good PR strategy right now especially in the gaming world no way

why would you it's like just like like hate Tech why would you do that makes no sense okay ethereum is one of the fastest growing companies in the world kind well in this too potentially so this I mean it's not a company so that's even makes it even more interesting but there's a chart we have up on the screen here which is really cool which is so ethereum surpasses 10 billion dollars in Revenue in within seven years and it basically outperformed every other company in the world so you look at what do we what are the companies you ever sell every other tech company tech company store yeah yeah we have Tesla Microsoft Salesforce I'm not sure what somebody says that Shopify maybe yeah yeah Sam Moon the only one that beats someta you have alphabet meta and

ethereum all at the what is that the seven just before the seven year mark everything else is you know almost 10 years and back so basically you have the three biggest you have meta Google and ethereum that all reached it in this amount of time what's interesting though is alphabet and meta did this with tons of investment tons of like hundreds and hundreds thousands of employees ethereum as zero employees and also zero expenses in terms of offices and paying employees and buying pens and computers and whatever else and so somehow a theater is real good so like hopefully traffic sees that and that makes them just go whoa wait what like that's pretty crazy and so I think it just adds to the

success that we've seen with ethereum with crypto most people again aren't seeing it but hey it's one of the fastest growing companies in the world it's not even a company wrap your head around that traffic like you can't it's pretty cool to see that it's amazing if you look at the market cap of the top tech stocks in the world Bitcoin would be number seven and ethereum would be I think it's like 14 right 50 yeah right like so everybody out there who's you know fading these Bitcoin and ethereum because they're like oh it's not legit it's still a scam and that's the crazy thing a lot of people still believe that you're talking about

two pieces of tech that have in a very short period of time become within the top 20 Tech in the world by market cap and yet as Kai said they're not even companies they're decentralized well here's the other thing to help people wrap their head around where does the revenue come from ethereum we've talked this a ton so most of you listeners should know that's from gas fees right every fee that's paid to transaction ethereum is essentially Revenue to the ethereum ecosystem now previous to September 2021 whenever the merge was all of that Revenue went to minors to pay for their electricity to mine and secure the blockchain so it was essentially wasted and leaked out since the merge most of that Revenue well some

of that Revenue goes to now stakers so people who are just you know staking their their eth and they're actually earning a passive income as a result of that but the bulk of that money is actually just being burned now since the the burn was launched last year or two years ago now I think it was and so of that 10 billion Revenue well whatever's happened in the last two years all of that revenue is either being burnt okay making the token less scarce or or sorry more scarce or it's being just given to other token holders that are staking no other company in that list here is doing that ninety percent of the revenue of every other company is going towards expenses right and then the profit whatever profit that is is going towards the you know the executive staff and the

investors the holders of that which are I guess these are all public companies so anyone could buy that now but it took a long time for that to occur whereas eth 100 of all the revenues is going towards the etholders which is just unbelievable incredible it's just a whole new world it's a whole new world and Michael Saylor is leading us into the Bitcoin so Michael Saylor owner of microstrategy founder of microstrategy has acquired 544 45 more Bitcoin in the last since I think since the beginning of August so basically in the last two months at an average price of 27 000 so that's another 147 million dollars in Bitcoin

that puts microstrategies Bitcoin Holdings up to over a hundred and fifty thousand Bitcoin at a value currently of 4.7 billion dollars which is funny because he's also had a loss he bought them at an average age of 29 500 lost now look we're all at a loss right now right well most people are not everyone but he started buying in 2020 before the market took off he just bought all the way through and all the way up all the way down and so like to be sitting here in the lows that we're in ready for another bull market and you're almost at even with 4.7 billion dollars I would say he's sitting pretty right now that's for sure this real nice position to be

and I would think although I mean he's got billions of dollars in debt but he took all that debt out two years ago when interest rates were zero and he did it on a fixed so he's literally paying nothing for his debt and yet he's got 160 000 Bitcoin so I'd say that's a pretty good trade but let's see feels pretty good to be sitting here and however everyone's bags are doing right now here's a guy who just acquired 150 million dollars of Bitcoin over the last two months even though his bags are currently underwater right like there's some really smart people that are really pushing hard to invest in this space and continue to push in so take

that as a smart smart or completely deranged yeah yeah AC is totally deranged completing that actually but I respect his conviction that's for sure yeah okay I do too coming back to Pokemon cards Kai you mentioned Pokemon cards earlier when uh Gary Gensler got roasted for questioning if a Pokemon card is a security well this is the reason that was brought up is because this week courtyard.io which is a startup company that takes physical Collectibles and tokenizes them on chain they have launched the sales of Pokemon cards now let me be specific these are physical

Pokemon cards so basically what is happening is people can go and you can buy an nft which gives you ownership of a pack of Pokemon cards now this is unopened pack of Pokemon cards and you buy it I think they sold this was like a beta basically they're testing this I think they sold like a couple hundred of these packs at like five dollars right and they've already gone up 10x they're now worth fifty dollars now these are unopened packs so once you buy the pack what happens is this company courier.io or maybe it's actually Brinks who is their safety partner their security partner they open the pack for you and reveal what's inside and you now

have ownership of those cards that are inside and now some of those cards they're going to be worthless so to speak I mean they'd be worth something if you wanted to play the game but what you're looking for is in these packs there might be a Grail there might be a rare card and if that rare card is in that pack okay let's say you open this pack the normal way you would then have to go like volt that basically somehow keep it fresh and secure so like put it in a case and you know keep it somewhere in your house and then you'd probably want to sell it because it's you know you bought this pack for five bucks you were hoping to make more let's say you got a card in there that's worth 500 now you want to go sell it well it's

difficult to sell a physical card right but what Courtyard is doing is they're saying okay we'll Vault the physical card for you but you have an nft that proves your ownership of that physical card and now you can go and sell that nft on a much more liquid Market in a much more seamless and frictionless way so you can really see Courtyards of fasting company I'm actually chatting with them to get them on the podcast in the next month or so because they see that the there's a huge opportunity in physical Collectibles whether it's like sneakers or purses or art all these things that currently people pay a lot of money to like secure really store

them which is a pain in the butt and then people have to trading them and selling them is a goddamn hanger to get all right from one country to the next or one person exactly that's a pain even and and there's no liquid market for it because it's not a global market I mean there is a liquid Market but it's very small and it's segmented so you have all these reasons like anybody looking for a great use case for on chain ironically Pokemon cards might be leading the way this week there's also the like once you move it on chain now people on the internet know that you own it and can prove and verify that you own it and so then you can create other experiences to those who hold those cards which you can't do when they're just physically in your basement right or let's say you're

selling them over like eBay or something you still can't do anything with them and so this changes the game for these real world assets which we talk about all the time but usually in the finance side of things now we're talking cards so very interesting to say that goes I'm excited to get Courtyard on the podcast think that's gonna be really cool yeah that'd be a really good one all right that's rap what a show Kai it is so good to have you back can't believe all the exciting news that happened this week it feels you know I'm feeling bullish you feeling good I mean I've always published so I don't even ask me that like I'm still bullish after FTX clocks I fell bullish after everything right so but yeah things look really good we just got to be patient as we've been saying for a few months now

don't forget I'm not very patient so it's true you're not very patient don't forget grab our crypto investing course right now link is in the show notes 33 off you can pay with your crypto if you don't want to pay in Fiat and next week eyes on chain event in our Discord 12 p.m Eastern next Tuesday we'll see you there thanks so much for joining everybody have a great day thank you for listening to web3 Academy your one trusted source to capitalize on the next big phase of the internet if you enjoyed this episode please share it and subscribe or follow so that you don't miss the next one while you're at it there's a link in the description for a free newsletter where we provide timely

and relevant web through insights so you can confidently build and invest in web 3. make sure to subscribe today one final note this podcast is for educational purposes only and nothing we say is financial advice crypto and Webster are risky and you should never invest more than you're willing to lose thank you friends and see you in the next one