Web3 weekly rollup: Magic Eden optional royalties, Q3 developer report and Mastercard banks

Transcript

dmgm welcome to the weekly roll-up where we run down all the top news in the world of web 3 the world of crypto the world of nfts world of blockchain make sure you got everything you need to know downloaded into your brand once a week you're here with Jaybird and my co-host Kyle reidhead what's up Kai what's going on friends we've got another excellent excellent episode for you today uh this week we are going to be talking about magic Eden moves to optional royalties I mean we called it on this show but just didn't think it was going to happen this soon to be completely honest uh the world's largest hip-hop music festival is launching nft passes so that is super cool uh markets are down but devs are up

we're going to talk about that in a report that came out I believe from hype uh Dow of the month uh Hint it is uh it's built on a layer two so that is really cool and finally we have a big announcement coming out of web3 Academy so stick around to the end where we're gonna dive into that announcement if you like to learn about web3 you want to hear this announcement Jay we like to practice gratitude before every single roll up uh what is your gratitude this week yeah I am grateful for the sauna so I tried to sauna at least twice a week and it's it makes a big difference in my my physical health and my mental health uh there's

been some incredible research done on the impact of sauna and how it can help your cardiovascular system and how it can help you get into a state of uh calm and meditative State and it also is really social for me working from home I don't get to see a lot of people very often so go on out I go I go to a local sauna here in my community and I get to I get to hang out and meet some locals so yeah grateful for the Whistler sauna nothing like a nude social connection with a bunch go ahead it's good it's not it's not dude I also used to soda every single day was in it this morning man and it is a good social club or social time to be completely honest I was

talking about nfts this morning in in the sauna so it's pretty funny uh my gratitude um this week is the sport of hockey I've been out of Canada for about four years I haven't watched any hockey in a while yeah Jay's got his Edmonton Oiler sweater on we're both Canadian so we we like our hockey although Jay's more basketball fan but um uh I got back last week on like Tuesday Wednesday and I went with a buddy to the London Knights game which the local team in my in my hometown where my parents are from and so immediately got full on Canadian mode and went to hockey game and then the Leafs are playing so I was watching the Toronto Maple Leafs with my dad um so it's just it's kind of funny it's been a while since I've been into hockey and uh it's been good to get back into

it and watch some some good old hockey much better smarter than uh than soccer basketball get them on Twitter get them on Twitter it's it's also why you bring up Sports because a few of our news items today are about sports and sports is such a big part of culture and you know web3 is adopting that it's a great onboarding ramp and we're gonna we're gonna be chatting about that today but before we get into today's episode we need to take a minute to hear from our sponsor the future of social media is here and that future lives in web 3 on top of lens protocol web 2 social platforms are broken and right for disruption you see the epicenter of social media is the creators and yet they are the most

neglected web 2 platforms like Facebook Tick Tock and Instagram are all essentially robbing creators of their worth creators are a new type of entrepreneur forming new types of businesses yet with web 2 platforms creators don't own their content to their profiles and that's their product in business instead they are tied to the platforms they choose to create on well just like how crypto is freeing us from Banks web3 is freeing us from these centralized platforms on lens protocol creators own their content own their profile and even their social graph and followers in the form of nfts this allows you to move freely from one social application to another with your content profile and followers moving along with you lens protocol enables self sovereignty for your social graph

and interoperability across the internet at web3 Academy we believe this is the few future of Social and that's why we partner with lens to ensure that the path of social media is heading in the right direction visit lens.xyz to learn more today okay welcome back friends the first big news piece of the week comes out of magic Eden I'm just gonna read their tweet here to start it off here's what they said after some difficult reflection discussions with many creators we've decided to move to optional royalties on Magic Eden effective later today we will also begin running a promotion to waive our platform fees this is pretty crazy and I mean we've been talking about this for a while Jay and I I'm just saying if it can go to zero it's probably gonna go to

zero this is the way this stuff typically works if we can't enforce royalties at the marketplace level at the protocol level then you know there's going to be other marketplaces that come up that skirt that and we've seen it with pseudo Swap and what's the other one's name Jay I can never remember T yeah yeah it's a x x2y2 X2 Y2 that's it so the reason that this is coming as fast as it did is Magic Eaton States in their article and you can move to the next one Jay but they actually stated that we are doing this because we're starting to see the market choose to go to these other platform forms they want to go to places where they can spend less when they trade and so for magic Eden to stay relevant it's just what they have to do

um so just I'm very surprised it's happening so fast it's interesting what they're actually doing here though so first of all I just want to say magician didn't want to do this they want to support creators they would love for creators getting royalties they actually launched a million dollar fund like a hackathon to help innovate on the future of Creator monetization and whether that's the royalties or other means um so they are they're putting money out there to try to figure this out but for now to stay relevant they just had to make this move quickly what they're actually doing is they're not removing royalties but they're basically making it uh an option for the buyer to choose if they want to so the buyer can now see what the Creator is asking for in terms of royalties but the buyer does not have to select that they can actually choose

any royalty price they want and so what happens is when they go to uh sell an nft or buy an ft um they can select a certain amount two percent five percent whatever they actually choose and they can set that as like a standard so every time they buy or sell an nft then those royalties um uh will be at that price so they can kind of Select from whatever they want and also what magic Eden does is they're showing the different features or utilities that came along with the nft so when someone goes to buy this or go sorry goes to sell it they can see that you know they were supposed to get Discord access they were supposed to get this type of thing and this merch and this discount and they can decide like did I get that experience if I did I

should probably reward the Creator and give them their royalties or give them something almost like a tip you could think of it as so it's an experiment it's kind of interesting what they're doing um but uh we'll see how it all plays out and we'll see if actually people start to come back to Magic Eden as a result of this I'm assuming they will the other thing they're doing is actually partnering with um what is it called Cardinal Labs I believe um and basically what they're doing here is they're allowing creators is to Mint their nfts and wrap it in this sort of smart contract where the nft can only be sold on marketplaces that actually um enable royalties so you actually can't go on something like pseudoswap

and sell it on there it's a bit centralized it's not fully built out it's more of an experiment than anything but it's something they're also offering and allowing creators on Magic Eden to to experiment with and try I think the ux is probably not the greatest on it yet and again it is somewhat centralized so we'll see how that goes I think the key thing is here is that they're trying um but they're doing they have to just listen to the market right now the market is saying hey you know we don't want to be we don't want to be paying creative royalties and part of that just to be clear is because a lot of the nft space is speculators and Traders right so that's the way it's just going to be for now we'll see if that changes the last note and then I'll let you sort of

jump on this J is was very interesting I saw a tweet from Robbie can't remember last name what is it Robbie Ferguson the founder of immutable and which is a layer two on ethereum and he tweeted out and said that all royalties are enforced on all marketplaces on immutable um because it's done and enforced through the protocol level I don't really understand how that's possible yet because it seems ethereum can't do it Solana can't do it like why can immutable Do It um I've tweeted out I'm trying to figure that out trying to actually get them on the podcast to talk about it so we can update everyone all of our listeners here but yeah that was just very interesting and he had this whole thread and it went uh it got pretty big so I'm interested to

see how that's possible anyway what are your thoughts here Jay first thought is I'm not surprised as you said that magic he didn't did this and the main reason I'm not surprised is who is Magic Eden's customer magic eating customers sawana Solana's ecosystem that is their most of their transactions happen on Solana who is Solana who are buying Solana nfts flippers right a lot of flippers are on the Solano ecosystem so obviously flippers as you mentioned those are the people that want zero royalties uh so so yeah not massively surprised that magic even did this because like this is a business move you see you're losing market share then like you've got to adjust and it's very simple to see why

you're losing market share because over here these other markets are offering zero percent so you're just gonna do that too uh we've got a lot of respect for the magic eating team though great team very well respected in the industry open up front about what they're doing I like that yeah big fans so I think that more so it's the it's the royalty debate that just keep keeps coming up and I really think that it's very clear that it's going to be difficult to enforce royalties on chain so there needs to be a reason that you pay royalties where it's cool to see his magic Eden is experimenting with this okay we're gonna

show you those reasons right we're going to show you what utility is involved in this nft so that you see why you should be paying royalties now I also saw a very interesting tweet I don't remember who it was by but it talked about one of the issues if we do go zero percent royalty is the misalignment that that could generate between Creator and community so if you keep a royalty then the creator has an incentive to keep delivering to the community because if they do then they're going to get a royalty as a revenue stream right whereas if they draw if if you had a

zero percent royalty would there let me ask you this would we be at a risk of a whole bunch of rugs where people could just create projects with no reason to continue and then just rug and go out so this is the problem is there are so many different types of nfts that require different business models like if you're a community nft which most of these are of the last years I don't know why they care about royalties if you're building a community the last thing you want is someone leaving your community that's the whole that's so counterintuitive to what a community is so your business model should have never relied on royalties anyway right so like they shouldn't even be thinking about royalties so who cares if your pfp project can't get royalties it's a dumb business model admiralties regardless the only people this really matters in

my opinion so I don't think there's like did you get in the Discord did you get these whatever like I don't know I don't really care too much about that more for me it's the artists right when you're when you're painting or you're creating digital art or whatever and you sell that yeah and you sell these kind of like high-end one-off one-off like pieces of Art and you sell it to someone and they end up selling to someone afterwards like you should probably get a cut of that that I get because there isn't really any other business model that they can do there it's just you buy my art or you don't buy my art so like those are the people that I think should get royalties someone like Nike who sells this big collection do they really I don't know why they have royalty fees

for that like they don't need it you know same with these communities like your goal is not to get people to sell so if you want online incentives get rid of royalties it doesn't make any sense you know um so I don't know it's I think people need to understand there's many different types of nfts that have served very different purposes and they all are gonna have different business models I think the ones that hurt the most here are the artists yeah for sure yeah I think that I mean it reminds me of Taylor Swift and how she does not get I don't really remember what her exact deal is but basically she signed with a label very early in her career and this is before she blew up right she was not a massive celebrity not didn't have you know the whole world listening to her

music and so she got I think she was paid like a million dollars for the rights to her Masters right so it's like all of her songs created before that time and at the time she's like oh my God a million dollars this is amazing so great right well now obviously that's worth a lot more than a million dollars so she you know she doesn't see benefit from that now that's different because she signed a deal with a label that didn't work and blah blah blah but my point is this is this is what happens to a lot of artists is when you initially produce your art there isn't usually a lot of value in it right you know it's later that the value is is accrued over time your value creates because people

care about your art and so that's why it does make a lot of sense for there to be royalties back to those people what's amazing though is I have heard stories of because there is let's also remember not all transactions happen through marketplaces you can do a transaction without a Marketplace and lots of high-end nft Traders and collectors are doing that right particularly with you know art that they're selling for like you know a million dollars well we don't want to give a cut to a Marketplace let's just make a private deal right and in those private deals there is it's up to them some to those two people do we

honor the artist royalty or not and it is becoming a bit of a standard that they will go back to the artist and say hey the seller will go back and say hey I sold this piece I sold it for a million dollars here's your 7.5 cut for art I'm all for it for art I am all for it but for pfp communities that's not art the nft has nothing to do with art most of them I mean all of them there's not any guitar in a pfp project they're all about Community whoa come on they're all these like pixelated whatever that's not art I mean sure some of the dessert whatever but I just mean the business model is different you know with that but for sure you're gonna sell I don't know people's you should give people uh a cut of that 100 you know

yeah yeah yeah we got we got to get Robbie on too I'm very interested in how immutable is enforcing that swears yeah everyone else doesn't seem to be able to do it okay let's jump into the next news loud punks all right so rolling loud which is the largest hip-hop music festival in the world has uh six locations around the world Miami uh La New York Toronto I believe they did Netherlands Portugal and I think they just announced Thailand for next year uh and we're talking you know 80 000 people at these festivals so massive Music Festival massive IRL event company that has been incredibly successful at building

culture around music and around hip-hop they have announced that they are dropping an nft called Loud punks so let me just give you a little bit of a breakdown of this this nft collection is not dropped yet uh they're um current date for mint is November 9th although I heard that in an interview like they haven't actually published that online anywhere so you know classic it's web 3 and smart contracts are complex so it might be November 9th it might not be uh it's a 10 000 collection it is a pfp but the purpose of it is not as Kyle just said the purpose is not art but you could use it as a PFE if you wanted the purpose of this is all

utility and why this is so freaking cool is because of the utility so the main utility that you get for this is you get a lifetime pass to all rolling loud festivals so you want to go to La Toronto New York Miami boom you're into all of these now they have not announced what the mint price is going to be so do not know that yet we will update you guys in the coming weeks once that news comes out um but we do know a ticket to this event costs somewhere between I think it's about 500 to 1500 depending upon you know are you GA or are you VIP uh and and there will

be other utility as well you know special will call line access to lounges at the events uh premium Discord like that sort of thing um but pretty cool to see a major IRL event it's not the first Coachella has done an nft and a couple others I think uh I can't remember the name of the other one a couple others have done this but this is the first that's a 10 000 piece collection doing an nft Kyle what what do you think what are your thoughts am I the only person that thinks that giving lifetime access to all of your in real life events is a terrible idea what is the business model here they're gonna have to sell these things for like so let's say you know you said their VIP

tickets are fifteen hundred dollars probably but I get to go to every single like this remember this on the blockchain so this nft is there for forever even after I die I can give it to someone else and so like let's say the next 200 years maybe that's how long loud What's this called Loud punks or whatever goes for okay 200 is ridiculous that's even whatever even 50 years even 20 years right like we're looking at and I guess there's more than one event of these per year right you said there's six per year so if I go to all six currently there's six there might be they're building more okay so that's 10K a year if I went to every single one and let's add 10-year set there's 100K okay so they need to sell at least 100K per nft in order to make money here

otherwise this makes no sense so I just look Coachella did this I think it was and who's the other one was it Tomorrowland or whatever I'm not against lifetime access to things I mean this is the the the last the series that I'm writing right now about like tokenizing communities is all kind of like you you give lifetime access to something if you want to build with that community and you want to create something of more value otherwise I don't really understand a business model ever ever where you would just say hey buy this thing one time but I'm always gonna have to create value for you because what this means is if people buy these I don't know what they're gonna sell them for for five thousand dollars or ten thousand dollars or whatever it's going to be they now have

to make sure that they have an event and VIP access and the everything working for these people for the next 100 years right so they're gonna make five thousand dollars of people and now they have to cater them for a hundred years how does that make any sense as a business model it doesn't it makes zero sense so to me if you're gonna do this subscription model why would you not make I get the idea of having nft you can go to all these events and it's cool and you can get extra things and join a Discord and blah blah that's great but in order to hold that nft I should have to pay or somebody have to pay a thousand bucks a year or whatever I don't know whatever amount they want otherwise I just don't get it because after a year to me it seems like now they're just at

a loss of every single one of these the only way I would say maybe this makes sense and I think this is what Coachella did is you sell maybe 10 of them but you do an auction and so now you have your biggest fans all kind of like trying to buy this thing and it probably goes for like you know hundreds of thousands okay that makes sense yeah Coachella sold sold three tiers of nfts and the top tier was a lifetime pass there was 10 of them and they went for and it was an auction as you mentioned and they went for 170 000 to 250 000 right okay so now your margins make sense plus the benefit of I'm sure that gets in media and all this stuff so like it Hypes up your Festival so like I like that but ten thousand that's like more than ten percent of

your the entire people who show up to your festival and after the first one it's now you're at a loss and now you got to do this for the next 10 years I don't get it I just don't understand okay well let's uh let's first assume the they they did they put they did the numbers on how many people are going to use these at each event right right let's say let's say that they get I mean conservatively first let's assume that they have 60 uh unique owners right let's all remember nfts vary a lot of people are buying multiple of these right very common in these collections so let's say you have 50 unique owners UH 60 let's

say unique owners that would be a pretty standard then let's say of those 60 unique owners six thousand of them I don't know like conservatively like maybe 30 would show up to each show maybe maybe like and even that would be hot right um so I don't think you're getting you're not getting you know everybody coming to every show uh but you you make you make an interesting point like if we look at the business case here what's the business case is the business case the finances is this a massively so let's look at that and then what what are the other business cases here because there is other business cases here which we talk about all the time on

web3 Academy it's not just about profit there's Community there's huge opportunity to build with other with people in your community so in the business case side I I'm not I'm not convinced on the business case unless they sell at a price high enough or unless they say that the cost of actually fulfilling this maybe it's not a very high cost for them because if you look at it like this I could I I would bet that festivals like this can easily throw another 3 000 people in there they're probably not like sold out do you know what I mean like there's they've got big grounds oh you want us to throw another 3 000 people in here no

problem yes they have to produce a special Lounge for them and sure that has cost but I don't think there's a massive cost for them to fulfill these and and then I think the other thing on the business case side is okay who are they selling these to and this was the big unlock for me and why I think they're doing this right now in a bear Market is they're not trying to sell these to their typical ticket holders because they're typical ticket holders don't want to buy nfts they actually got pretty roasted on Twitter for this right because what is mainstream thing going on entities mainstream hates nfts right right so you think that they're trying to sell us to the web 3 Community their

customers exactly and you know how I know this you can only buy an eth you cannot buy this using your credit card or using any Fiat so you must buy which means you're already in web 3 and I think they're sitting there saying look we've got the pr hype machine that can generate enough traffic to this that can make the web3 community like go oh [ __ ] lifetime pass utility why what like oh you think I should buy this other nft project that's promising some big metaverse and some big story no like look at this this is real utility right now and let's say they sell it for five thousand let's say they do about two eth

right uh that's 5 000 East times ten thousand that's 50 million dollars that they would do right now maybe lifetime that 50 million dollars isn't is is not a lot Taylor Swift story it's the Taylor Swift story you just explained but if you get 50 but here's the thing what's 50 million dollars worth now what can you do with that can you invest that 50 million dollars and make it worth a lot more right you know potentially so so I think uh go ahead my question is are they because here's what I think happens they do this and you're right maybe it just goes to web through people and they get new people in that's cool but once they're actual fans like people that actually go to all these events get wind

of this and go oh I can get lifetime access they're gonna go and get their eth and get a a mask wallet and they're going to buy these things and they're going to use the [ __ ] out of these things you know what I mean and so now now they're screwed because they're making no money off of their best people so to me it's to me it makes more sense where you still use an nft I think the nft idea is great one because you can do different experiences and stuff and that's cool there's a limited amount so that nft can go up in value especially for those who are part of this like for me the way that I see it so this is bringing your community together they hold this thing they are now like the most VIP you can get they go to all the

events they are now incentivized to make these events better because then their nft may go up because there's more people who want to buy them right so that to me is cool it's just they don't really make any money off this unless they're trying to rely on royalties which we just talked about as a stupid idea so for me the way you do it is have an nft but in order to hold it you pay a subscription fee and now every year you got to pay it so at least the sound whatever is making money off of this but they still have people who are incentivized you know unless unless this is like a out and they want to like share some revenue and they these are Builders or like people who might help them take their business to the next level then okay it's well worth it just

give them the nft it's kind of like Equity maybe you share some Revenue but if it's not if it's just actually going to be people who just want to attend their [ __ ] I don't understand why they would do this it's just it doesn't other than maybe they have this cool investment plan where they're going to take this 50 million and toss it and eat and hope it tedxes in the next year that's just your investment plan bro yeah I don't know it's um we'll see how it plays out but I I think I think the other the other thing that we have to recognize here is you if you are a major business and you have an opportunity to create a community of ten thousand massive like loyal fans right now

what what is the long-term effect of that is where does that and we talk about wanting to decentralize right we talk about wanting to build culture with our community we talk about wanting to involve our community and our products in our decision making and I'm not even necessarily talking about a Dao but this is the way you do that like to me this is a massive commitment to the ethos of web3 they're saying hey we want to play in web 3 and we're going all out whether it works financially again I think Caillou and I both admit we're unsure of the finances of this but I don't think they're completely ignorant to the finances I'm sure they crunch the numbers I think more so I think what

they're doing is they're looking at this and they're saying two things one we can probably raise 50 million dollars whatever it's going to be 20 to 50 million it would be my guess right now in a bear Market holy [ __ ] let's go [ __ ] do it and well it's not a bit it's not a bear market for them well I mean it is but I don't think Hip-hop getting impacted right now people are going to festivals usually entertainment does not get impacted we just we live in the crypto world so it's a bear Market to us everyone Matrix like what are you talking about what's a bear Market the recession's hitting you too so I'll tell you what I think they're gonna do with this they're gonna rug the Webster community and they're not even going to have another Festival next year they're

just like let's sell these yeah they're gonna run a festival [Laughter] Savage I hope not okay all right let's go to the next one all right let's go on to the next one what is the next one ah developers this is me okay so this was um a report that came out from Alchemy I said it was hype I think but it's Alchemy um this is very interesting So speaking of a bear Market um this report came out looking at the developer activity across it was mainly ethereum the l2s polygon and I think Solana um and some very very interesting stuff so if you haven't been in this space long every time we've had a bear Market which has been I think three times uh in terms of crypto or crypto winter the

devs just fall off they just fall right off and it's like oh [ __ ] no one's building anymore this time has been very very very different so despite ethereum being down 70 percent developer activity is up 40 this year this year in 2022 so that is huge if we look at the amount of people actually building and launching so this slide that Jay has up this is the biggest Q3 is the biggest uh ever in crypto's history so ethereum installs for sdks is up 178 year-over-year smart contracts verified is up 160 year over year and there's 12 times the amount of dapps since 2018. it's insane here's a cool stat you can keep scrolling down JP

like 36 of all verified smart contracts were deployed in 2022 making 2022 the biggest year ever and it's still not even over right so 36 of every single smart contract ever uh verified installed since 2016 I think was the launch of ethereum 36 all happened within this year and we're only 10 months into the year um so that's pretty crazy that's pretty awesome actually nine months because this would have been uh up to Q3 um what do we have so more than 12 000 dapps with one or more active user in the last 24 hours up from a thousand in 2018. uh this is crazy on L2 so check this out 700 to 1 000 increase in Dev

teams across l2s and other l1s like polygon and Solana 700 to a thousand percent increase this year or sorry in Q3 um and then another note which was not actually in this one but polka dot uh which also polka do not recognized that more than 500 contributions each day in September is an all-time high in total uh developers on polka dot as well so basically every legit blockchain is seeing just all-time highs in terms of developers what's funny is in a bull market anytime you see a blockchain that's like reaching new levels of new devs the price just goes crazy we're at a bear market and we're seeing every blockchain just going through the roof in terms of

devs and activity and no one even cares right everyone's like whatever man yeah in the Bull Run everyone's like go where the devs go go where the devs go you know and it's like man the devs are here and they are just flocking into this space my take literally the only thing I wrote down for this of what is my take on this bullish this is so bullish you have the most like human capital and just intelligent Minds coming into this space and just building and creating it's it's incredible Kevin O'Leary keeps talking about this he's like when you have this many people like you go to Harvard you go to all these like MIT all they're doing is talking about blockchain so you have all the smartest people in the world moving into the space what do you think is going to happen you know so anyway bullest

bullish take for me Yeehaw baby yeah yeah this is this it's it's it's so interesting because when you're in the space every day as we are these stats don't necessarily surprise us but then when you step back and you consider what this means I can't believe how much building is happening across the space so much so that I mean Kai you probably feel like this every day I find out about like a new a new piece of infrastructure a new a new protocol a new industry that blockchain is like creeping into and affecting it's it is web3 is eating the world it's just that

it's only the Nerds that are involved right now so everyone else is like and the ux sucks so you know and this is what happens right when you create when you create a new technology you need the devs first because you need them to build you got to build all the infrastructure you got to build the standards you got to build the protocol and then the product people come in and they make it look pretty and they make it fun to use and they make it easy to engage with and we're still in that phase one where it's all the building with the devs the product people haven't really come in yet at least not at the scale of the web 2 world but and the thing is is that this is all compounding right because it's all composable every single time one thing gets deployed

everything else can build on top of it and add to it and like the speed at which this is all happening is is actually quite insane and again every other bear Market all the devs left and so like until all of a sudden you know Bitcoin had a happening or the government started printing money again and the prices started to go up then everyone came back so there was that sort of delay even though the the prices came back we still didn't have a lot of things built right and this is the first time where hey price is down everyone's left in terms of like the users but man the devs are just piling in still so the next time that this comes around holy [ __ ] it's gonna be a whole new world and everyone's gonna come in and go look at all this stuff that's been built the

last like year two years um it's going to be a wonderful thing I don't know how long it's going to take we'll see but like that momentum is really really building and it really excites me and you got polygon up on the screen and [ __ ] I feel like they must have a Dev or a Biz Dev team of like 10 000 people because every day we got our quick takes today this how many things are being built on polygon it's absolutely the next the next the next piece of news this is the launching Point here we go yeah yeah perfect speaking of polygon uh polygon has this is super cool super super cool polygon has or on polygon the police in India in one particular region or city of India have launched a complaint management portal on the

blockchain so okay let me let me break down for you what this means and what's going on here okay so in this region and I'm just trying to get the name of this region the Indian District of I can't find it I'll get it in a second so in this region oh fear firozabad forgive me if I said that wrong Frozen bad so in this region they have a across all of India they have a massive issue with their legal system which apparently has not moved digital it's still all in paper there is over 40 million cases in backlog to go to the court system at the current Pace it would take them 250 years to get through all of those cases

so as a result of this what has happened is it's led to the police will receive a complaint from a citizen and they will they'll do a few few things either won't file it because they don't want to work on it or they won't file it because their superiors are like we can't take any more cases like just push it under the rug don't deal with it so it's led to this issue where there's all these citizens who are dealing with crime and dealing with very hard situations and they can't go to the police because the police won't do anything about it because of this massive issue and backlog so what has happened is in this one city they've decided to put the

complaint system on chain so rather than the traditional method of like going to a police station or phoning 9-1-1 or whatever the 9-1-1 number is in India you now go online and for free you don't have to pay gas for free you can post a complaint and it's now on chain so it's immutable and they've created this system where you can follow it along so you can see has an officer been assigned to it where is it out in the process and anybody you can see this now so what a I don't know that this necessarily solves India's backlog of cases that's a massive issue that I'm not sure how they deal with but what an incredible way to put Power in the hands of citizens and

make them feel safe again and make them feel like they can use the police system that they're paying taxes for I mean Kai give me your takes but I'm I'm so fired up on this is such a cool use case I think we often think of blockchain use cases to be financial and this is just one that is really really cool and just makes so much sense um for that could impact so many people because it's not just India that has this problem I mean I lived in Mexico and South America and in Asia southeast Asia for a long time and they have all the same issues right just it's underdeveloped countries who don't have a good police system um and I mean [ __ ] even in Canada it's

not even that great but um I think it's it's an amazing use case I think it makes complete sense to keep that open and transparent it's not just the immutability which is huge because I mean there's obviously a lot of um what's the word that I'm looking for corruption corruption exactly um but then to see and track and see what's going on with it all I think it's super cool I think it's really smart and it's going to keep citizens more accountable too because if I'm doing a bunch of [ __ ] in my neighborhood all the time and people can see that I'm getting complaints on this blockchain I'm probably just not going to do it even if the police doesn't do anything about it because I'm like [ __ ] my friends and my family can see my name on there that I

keep walking around the neighborhood naked or whatever it is that I'm doing so yeah Kyle just keeps leaving the sauna naked can we just get that guy back to Masada so I mean it's an Incredible use case and I think it's really cool to see there's gonna be so many more of these because that we're not thinking of that blockchain is going to solve um and so yeah I love it I think it's a great idea yeah I think that uh what is so exciting about this as you said is and this is really the whole point we keep talking about decentralization but I don't really think that we necessarily know what that means yet because we've lived in a centralized world for so long so what

happens when you decentralize something like this exactly what you just said Kai now maybe you actually don't need the police maybe a community can can police itself because everybody can see and be aware oh here's a photo here's this guy it's all on chain I can you know there's a nice system where I can go and log in and see the recent complaints and complaints in my neighborhood and I can start to be aware of that and keep myself safe I mean I just think there's so much power in putting allowing decentralization and allowing community members to participate it's less Tran it's less desaturation I think what you mean is transparency and immutability that's the unlock here right not really decentralization doesn't really matter here it's well I

mean it does because that's what allows for the immutability but it's more that it's open transparent I think it's what you're trying to say yeah yeah yeah yeah for sure um let's just talk quick about other applications that this that this makes us think about because I think this drive this drives me into a few other applications and the obvious one is review Systems right you know Google reviews is a fantastic tool Amazon all these reasons if if they are correct reviews right and that's a huge problem you can game that system right now well what can happen if we put it on chain is you can only allow people who actually bought your product to be able to give a

review through on-chain mechanisms and you know and then you can show when they bought the product and how you know you can show all these details because it's all on chain you know I think reviews would be a big one and then you can connect it back to somebody's identity so you can know maybe you don't necessarily know who they are but you know that they have a identity that is recognized not just in Google but across other platforms because it's all interoperable yeah I think it's I mean I'm trying to buy a couch right now because I just bought an apartment in Toronto and some on like Wayfair and all these other ones and some of them are kind of some sketchy sites and I read the reviews I'm like is this a real person or like what's going on here so I would

absolutely love it and I would love to know they've actually bought it you know and seen it and so I think it takes a while to get to that we need to get to the point where all Commerce is on blockchain it's going there it's definitely going to get there um but uh yeah I think that'd be super cool all right let's uh let's push on to the next one um and uh and talk about MasterCard so MasterCard is helping Banks offer cryptocurrency trading so probably like yeah whatever not that big of a deal here's what's actually happening that's that's quite cool here so MasterCard is working with a company called paxos some of you may have heard them already they have a the third largest stable coin currently in crypto uh the Paxil stable coin uh they are the uh institution which works with PayPal

and allows PayPal to manage all their crypto um what's really cool about paxos is they are um they are compliant with all the regulations in the US and so the problem with banks right now because you're probably well why don't Banks just do their own cryptocurrency trading it's that they can't because the compliance of crypto is so difficult and basically impossible to keep up with that they just can't do it they can't risk it and so if they were to hold crypto and try to deal with this all they cannot they're so scrutinized the banks that they cannot go against what the SEC says or the cftc and so they just can't risk that all the banks want to start allowing their users or their customers to start buying and selling crypto they

just can't and I think MasterCard has seen MasterCard has been encrypted for a while now they really get what's going on here and they see the opportunity and so they said hey let us come in let's work with paxos who's already compliant is already handling all the stuff and they have all the lawyers and all the whatever they need to make this stuff work and MasterCard is being the bridge between paxos who's the crypto native company and the banks and MasterCard is like we understand and the banking infrastructure and how the financial services system works we understand how crypto Works via paxos let's integrate them all together and this allows Banks to easily be able to offer crypto services to their users the reason that this is a big deal is like for those of you listening to the podcast most of our podcast listeners are like I don't know

late 20s early 30s most I'm sure we have others who are older or younger even but from the stats we see on uh on Spotify that's who you people are and we appreciate you people by the way but most of you who are between 25 and 35 you could give two shits about your bank if anything you're like can't wait to be bankless right that's why you're probably listening this podcast it's why you're into crypto but anyone who's like 50 plus like my parents for example just pure Boomers they love Banks right they're like Banks is everything that's how they do all the things that's how they invest that's how they save their money they wouldn't do they wouldn't touch a financial service if it was not from their Bank they've been with for like 40 years you know what I mean so a lot of people who are

50 plus want to get into crypto they want to invest they want to be involved in stuff but they're just not available they don't want to go and download a coinbase app and deal with all that or freaking use metamask and uni swap like they're never going to do that so they're kind of just sitting there waiting and so it's actually a big opportunity and Banks know this and they want to do this because one they know they're getting disrupted so they need to get involved they're just like Gary Gensler get your [ __ ] together and let us know what we can do so we can get the stuff in and so this is sort of like that like we're kind of Jimmy rigging a service for the banking people uh via paxis and MasterCard so I think it's pretty cool and actually going to be a

very big deal whenever it goes through I think it it was q1 is when they're doing their first test of 2023 and then they'll look to like launches across many banks and many locations so we kind of have to take what we can get so far I just it's huge news and it's you nailed it when you said it's it's onboarding for the customer that uses Banks which we need I just I just gotta say I love the marketing that is happening from Banks right now so whenever you hear Banks talk about crypto the media and here's a quote directly JPMorgan CEO Jamie dimon recently called crypto this last week he called cryptocurrencies decentralized ponzis so they're out there spreading this message because they don't want to

lose their customers right so it's like fear-based marketing you know cryptocurrencies are scary they don't don't go invest in them don't use them but here's what's going to happen behind closed doors they're all investing in this sale they're all building in it and they're going to come to you in a few years and they're going to be like cryptocurrencies are safe but you you know do it our way and here's our way to do it it's just like don't don't I mean Kyle a lot of marketers so don't not to put us down but don't get caught up in marketing read read the fine print know what's actually going on Jamie Diamond wants his Bitcoin cheat you know and that's that's exactly what he's doing here but they also know they're gonna get completely disrupted so they have to

stack up they have to like slow it down because they've got to adapt and so the only way they can do this by slow you down so like he knows it's not decentralized Ponzi Jamie Diamond is not a dumb person I mean he's incredibly smart he gets what's happening here he doesn't think it's a decentralized Ponzi I mean actually you know what in all fairness a lot of crypto is a decentralized Ponzi so like he maybe he's just referring to those all right wow we are uh we're we're only like five stories in and we're already a while into the show we've been chatting we got lots on today's show let's uh let's keep moving along okay Dao of the month down of the month as voted on by you our community we had over 300 votes this past week and the winner is and the

Voting is done on Twitter by the way we run polls on there so actually first of all we asked everybody the community on Twitter uh who should be in this poll and so we had a bunch of people like nominate and then we took the top four we tossed them in here ran a poll and now Jay go for it who's our winner this is it you really you really took the uh the I thought of that thanks thanks for the technology follow us on Twitter the demo of the month is treasure Dow treasured out with they won 90 over the other nominees were nouns water and music and Seed club and treasure won 90 they had over

250 votes this is the power of community people if you're not if you're not getting your community voting on doubt of the month or nft of the month or other of the months that we have coming up uh next week is web 3 Person of the month uh sorry two of the month so you want to vote on that but let me tell you about treasure Dow uh because they're doing some pretty cool things so treasure Dao is a decentralized video game console connecting games and communities together through magic which is their token and nfts so essentially what treasure realized was the problem is that in order to build this decentralized metaverse we need a few

things a we need interoperable standards that allow you to Port items across games B we need a a common currency that can be used across games and also we need tools for developers to build on so they have standards that they can use in different tools and platforms to use so basically that's what treasure Dow is they are the home base for game developers to create their games in a way that they can be interoperable and what's really cool about treasure Dow is really their Community that's what's so powerful about it so when treasured out first launched last year I believe it

was like the end of last year when they launched when they launched the Dow there was a team building for a while a core team as Caillou and I have talked about the way to create a dow is have a core team build for a while and then decentralize and open up to others when they did launch initially their focus was on free mids they realized that the way to create a decentralized metaverse is you need to allow everyone to come in so it's all free mints you could mint magic for free which is their token you could mint uh nfts that they use in their games for free and we've talked actually a little bit about on the show and there's a lot happening around this free to play free to own model that I

think is pretty much going to change the face of gaming over the next decade but treasured out is at the Forefront of that by allowing new users to come in for free get nfts get magic and then start to play these games and this is not the only case of this I mean God's Unchained is one of the biggest nft games that immutable X created there's I'm trying to remember the names there's a few other games a Gods on chain is not on Treasure dial but this this model of free to own I think is really blowing up uh and treasure Dow's leading the way and what's so cool actually Kyle let you tell what what happened after us uh announcing this well so first of all treasure Dow is is on uh arbitrum and

the reason they won is because someone who really understands Community is Andrew Saunders the CMO of Arboretum who we had on the podcast you should check out his episode it was a couple weeks ago now uh he's an ex Amazon and uh and moved from Amazon to to arbitrim um he saw this and goes oh okay let's get the community involved I'm sure they'll vote for Treasure Dao and so he retweeted out and pushed it along to his his crew his community and of course it worked uh and that's why they're getting free marketing right now to the web 3 world so well done Andrew but also as a result um the founder of treasure down saw this or their team saw this and uh we're gonna have the founder of treasuredale actually on the podcast I'm not sure why yet but we'll get them on eventually

they've done some really cool things and so we want to talk to them about the community they're building their Dao and sort of the product and just kind of understand more about what they're doing so um that's the power of community my friends uh great job Andrew giddy up giddy up way to go treasure Dao shout out uh keep an eye for next week's uh of the month we'd love to get you guys uh love to get everybody voting we got some quick hits to get through here Kai how fast you think we can get through these quick hits in a minute each this time we've been trying this whole point you got you got you got your timer set up I'm working on it yep you you read you ready to rock ready coming at you rock I'm coming at you with our first quick hit okay first quick hit

bankless co-founder David Hoffman sues the Department of Treasury I love it David uh our boy from bankless um making moves for the web 3 world so he was what's called dusted through this tornado cash thing so basically once there was the sanctions on the tornado cash someone just sent a bunch of eth to um a bunch of like celebrities and high profile people and David was one of them and so now as a result he has to file a report every single year to the Department of Justice or whatever um whoever it is and just say that he's not a criminal those are not his things and he has to do every single year for the rest of his life and if anyone else sends him another one from tornado cash

he has to do it every time that he gets anything sent to him so right now it's just one but it could be many many more and he's like this is wasting my time it's absolutely ridiculous and so him coin Center and someone named John Doe maybe that's that person's from coin Center I don't know but they're gonna Sue Janet Yellen so it literally says in here Janet Yellen versus David Hoffman it's the best thing ever and this is just web 3 and crypt that's what they do this is the best memes so go get them David we all support you and we thank you for what you're doing all right on time well done that's how I roll all right mango markets uh Community set to approve 47 million dollar deal with the hacker who hacked 100 million dollars from mango markets it was last week give her a go Jay yeah

okay so uh this has been an evolving story all week which has been fascinating to follow uh but let me let me break down the story for you first so uh happened first over a week ago about a week and a half ago mango markets was exploited for 117 million dollars which I think is the sixth biggest uh exploit in crypto history um and this exploit was done on chain so basically what uh what he did was and he there's actually a team behind this and they have revealed their identity because they are claiming that this was completely legal so basically what they did was they took 10 million

dollars in usdc put it into mango Market as a result of over collateralizing that 10 million dollars they pumped the price and were able to take out 117 million then they went back to Mango markets to the Dow and said hey let's work out a deal and let's agree on a settlement and they settled on 47 million dollars in return for not being prosecuted through legal action well done well done crazy story though crazy story okay Solana killer Aptos launches its highly anticipated mainnet go funny that they're now called Solana Killers I thought it was Heath Killers but so Aptos comes from the team that

was building the Libra currency of Facebook they shut that down they took that Tech they're launching a layer one called Aptos um and man this thing launched last week and was worth like 20 billion dollar valuation and it hasn't done anything yet it's like it's just a piece of tech that literally has done nothing it felt like a bull market Vibes of 2020 2021 a complete joke in my opinion more importantly though like I'm sure the team is really good here my take is this we don't need another L1 we have enough l1s in this industry all trying to figure things out some of them work great some of them not so much we have a ton of layer twos in this industry all very promising why the hell are we building more l1's it's just to extract value you don't need an L1 go and build

on something that already works like ethereum and their l2s or even Solana whatever and like build an application that's going to move this industry forward stop with this [ __ ] of just getting VCS to give you a bunch of money to build the next killer of whatever I'm over it over it which you got next for me Kai nft house sells for 175k they say it's the first one I don't think it's actually the first one but give her a go anyway Jay yes super cool so uh an nft sold as a house and it was the third largest nft sale last weekend which is pretty cool to see so this was through roof stock on chain which is a Marketplace that lets you buy single family properties as an nft so here's

how it works they open an LS LLC for each property the LLC takes ownership of the property they tokenize the property and mint an mft that represents ownership of the house and then people can browse the nfts on the marketplace and buy homes one click like this is literally on open C so you can go to openc and you can see the traits of this house you can see that it has a 2.5 bathrooms and three bedrooms and the city is Colombia and the square feet is 100 1495. so it's I mean I don't know real estate at nft has been a Hot Topic it's clearly a big opportunity will this catch on how will it catch on I'm not exactly sure but pretty cool to see uh

this this sort of fun marketing plan yeah it's happening buddy I just bought an apartment in Toronto and what a [ __ ] show that industry is it needs to be freaking disrupted I got all these bills and things and I'm like talking to all these different people and all these contracts and I'm like what am I doing I don't even know what's going on here I'd love to go on openc and buy my apartment hell yeah it'll happen eventually but we'll see how long all right what's next next up FIFA and Roblox announce a landmark partnership as FIFA World Launches on Roblox go I mean you said at the beginning of this uh episode is that hey Sports is huge it's a big part of culture and they're making their way into web 3. in this case it's not crypto but it's in Roblox

that's super cool I mean there's so many people hundreds of Millions on Roblox creating some really cool experiences so FIFA's getting their feet wet there which is awesome I mean FIFA's doing a ton of stuff I think the um I guess I'm now the new football or soccer uh reporter for web3 Academy but I just saw yesterday that they were giving the awards I don't know if it's a FIFA award specifically but it was rewards for football and they were getting a trophy along with it they were getting nft uh and so that was super super cool so FIFA tends to be all in on this I mean there's a lot of teams in the Premier League and others that are you know using socios to have like tokenized their fans um FIFA's really pushing the limits here uh which is really really cool to see so

I'm all for it and I'm a big soccer fan now so Barcelona way to go foolish Barcelona kidding Barcelona is like three billion dollars in debt have you ever have you seen this story it's a great documentary on Netflix about this but yeah they're like they're actually kind of like a decentralized uh like they're like a dow basically the Barcelona the club because they have members which own it so it's not one person it's a bunch of members really they all make decisions yeah it's basically a dow but they've completely [ __ ] it up and they're like three billion dollars in debt I think it's three it could be two I don't know but um yeah I was learning all about it when I was in Europe all right uh crypto punks social tokens Bitcoin make it in the Guinness World Records uh this year

for the first time yeah so we made the Guinness Book of Records everybody we made it we did it we did it we did it okay so get his book of records released their 2023 uh Edition which is hilarious that it's their 2023 Edition we're still in 2022 I don't know why they call it 2023 ahead of the year but anyways they call it the 2023 Edition SEO purposes yeah yeah exactly uh and here's what made it so first of all Bitcoin most valuable cryptocurrency this and these are all new categories most valuable cryptocurrency new category awesome to see Bitcoin there um another category which was most expensive nft collectible was crypto

Punk 5822 which was purchased for 24 million dollars there actually has been nfts that sold for more than that but their their way of categorizing this uh uh category other way of uh defining this category meant that only the crypto Punk won and then the other one was uh fan tokens social tokens appeared and they had a category for most valuable fan token which went to Manchester City's token which was created by socios sorry Barcelona did not win Kai uh yeah the most valuable fan token man cities is market cap of 47 million dollars currently so since since all the

football fans are listening I gotta figure out if I'm gonna call it soccer football when I was in your best kind of football I gotta call it soccer I'm just gonna I'm gonna do that I was doing it for Raul but anyway I don't know if you saw this tweet yesterday but ronaldino you know who Ronaldinho is yeah the old soccer player the old Brazil Brazilian player right yeah yeah so he used to play for Barcelona he I guess like when he retired like just went downhill and went bankrupt doing I don't know what he was doing anyway and look I guess he's trying to make some money now and he was on Twitter Shilling some complete [ __ ] coin Ponzi scam yesterday and that he must have got paid for because he's just trying to make a buck and like I can't even remember what this thing is it's

like calling it the next um uh what is the dog coin that went so big he's calling it the next one no the other one uh anyway whatever yeah you know what I'm talking about you can tell that we don't play around with the [ __ ] coins but anyway he was on Twitter posting this and like trying to chill this just complete [ __ ] and like Kim Kardashian just got fined one point whatever uh million dollars better watch your background like what are you doing bud it's so funny all right what's the last one last last Quick hit Lexus driving school is giving nfts as credentials yeah this is cool this is actually just another use case kind of like we were talking about the police stuff so basically when you do your driving test they're gonna

give you an nft which showcases like your results and how you did and proves that you did x amount of training uh and here's how you did the training um so like makes complete sense it'll be a soul-bound nft I'm sure or maybe they'll go the the Disco route and put it off chain but either way uh it's gonna be a verifiable way to prove that you have taken X training and maybe this ends up lowering your insurance or you know whatever however they want to go about doing this um but another really cool use case in my opinion for nfts that you know they just keep popping up out of nowhere that you don't even think there's just so many everything is going to go Unchained it just makes so much sense yeah yeah exactly I love that okay before we get into our big announcement

because we got a big announcement to talk about want to want to quickly show uh this great tweet that was just hilarious which is Kanye West was spotted wearing a Satoshi Nakamoto hat after being debanked by JP Morgan looks great I love it Go Kanye he's uh he's definitely a big fan he's talking a little bit crazy right now eh I don't know if you've seen what's going on with Kanye right now or you mean like for the past 10 years oh for the past 10 years but like especially right now I don't I don't keep up to date on Kanye hear this all through Sam but uh apparently he's he's he's doing some crazy stuff which maybe isn't that nor isn't that out of

the ordinary I'll be honest I still think Carney is one of the best rappers of all time graduation is the best album ever created uh I've been listening to it at the gym for like 10 years 20 years whatever I love it Kanye is it's a nice Artistry he's a true artist but he says lunatic when it comes to his his day-to-day life all right are we a new show in web 3 or we had just a new show of like football and uh and celebrity and pop culture and yeah all right let's get into the big announcement what's going on here do you want me to do or you want to do it Jay you go for it okay so web3 academy uh is all about learning web3 right it's about learning where the space is going it's about learning how to build community and it's doing it not

just from Jay and I but doing it with those who listen to our podcast those who read our newsletter uh it's with the web the web3 community in general we want to learn from each other and learn and grow together and so early on we launched a Discord this was many many months ago and we had all the podcast listeners newsletter readers go in there and we just shoot the [ __ ] on web3 you know we talk about the biggest news we would uh talk about the people we had the guests we had on our on our podcast it was awesome everyone was learning together growing together that we do private sessions and member meetups and it was great that Community ended up turning into a dow a tokenized community which we'll talk more about in later shows I think but as a result we had so

many people coming in that we actually had to just shut it down and we're like What do we do about this so it's been shut down the last two months there were scammers getting in there and it was just getting too much so we've redesigned it and we've with work from the Dow members from a dow which thank you all you you've been amazing uh and then our team here at Webster Academy and we've reopened the Discord and now what we have is it's really simple it's really clean and basically it's just a couple channels in there that are forums so kind of like a Reddit style where we have podcast discussions and so every podcast episode has its own space for us to go in and we we get feedback from from the listeners they ask questions we bring in guests and we kind of shoot the

[ __ ] on you know whatever that conversation was we have a web 3 news feed now which is also in a form style where you people come in and in the community are just sharing news and Jay and I are in there talking about our thoughts everyone else talking about their thoughts we actually had a session yesterday with the people in the Discord we had a call and we actually prepared this roll-up with the community so we took all the news everyone's been sharing we took their opinions so thanks everyone for joined um so you can get involved in this and it's uh it's free it's it's easy to get into right now we're eventually going to token gate it so that we can give you know more perks right now we're just gonna bring everyone back in have some fun in there it's already lit up so get

in um and if you have questions feedback just thinking about this episode you can jump in right away and there's there's already spots to do that um there's some really cool people that have been joining in over the last little bit we did announce it in the newsletter uh just a lot of smart people in web3 that are all in here kind of um exploring and learning together and so really it's it's a club it's it's the web3 Explorers Club is what this is going to turn into and and really what we want it to be so if you want to get rid of the noise of Twitter and the Bots and all the crap going on there you come into our Discord and you can talk with real people and uh and learn that's the whole point yeah it's uh it's super exciting to have a place

to go to where you can find your web 3 homies you know it's uh I think it's tough for a lot of people who are super interested in this space and I mean at least I know for me uh or we had a guest this week on the podcast it's actually coming out uh next week we had uh Nick from re-nft and he lives in Arizona and he said he's met one other person in Arizona that is into blockchain you know and so you think about how it's tough to find your community well we wanted to build that Community where you can link up with other doers other builders uh talk about the news talk about the tools that are being used uh break down the podcast and that's what this is all about it's a place to to meet and to

collaborate with other other community members this is this is a place for doers if you look through the intro list of who's all the people coming in it's all people that are business professionals entrepreneurs creators that are building and want to really see where the space is going that's who this is for and so if you're one of them we want you in here uh and we want to learn from you and and we want to help you learn um so the link is in the show notes below you can just click there there's a survey to fill out before you join uh and then you can pop in and um yeah it's a great time so and actually just to announce next week so we have events every I mean there's multiple events you can see them in the Discord but every Thursday we run what's called sandbox

sessions and this is where we bring a builder from the space they already have a dow they already have a protocol or someone with an idea and the community kind of joins in and kind of bands around it and we come up with ideas give feedback and we learn together so next week we have the founder of GM who we've had on the podcast before he's coming in to walk us through kind of the future of web3 um social platforms so kind of like Discord but in a web 3 native way really really cool the week after that we actually have some um we're talking about uh retailers so big retailers and how they can use web 3 we have some people from some big companies Walmart and others who are going to be talking about what their plans are and what they're looking into and so

um yeah this is the place to be if you want to learn you know anything about web3 so we'll see you guys in there uh it's a lot of fun awesome love it can't wait to meet you guys in here and that's rap that's a wrap for the roll up great show today great show all around you did great today Kai thank you I brought the energy you know baby because I was sauna gym had a nice coffee in the front Morty Routine Morning Routine baby and because I'm not in Europe these are actually being recorded in the morning again they used to be like in my evening and I was like I'm tired yeah that's true that's true time zones are a crazy thing for running a business all right folks have a great weekend and we will see you next week thanks y'all thank you for

listening to web3 Academy we hope this helps you along your web 3 journey and if it does please share this episode And subscribe so you don't miss the next one nothing in this podcast was Financial advice crypto and web 3 can be risky you can literally lose it all in fact if you invest on account of what we say you probably will lose it all so don't do that in all honesty the point of this podcast is to remove the noise of markets and price and focus on utility and imitation anyway so you should not take any of this as Financial advice thank you friends and see you in the next one