Trumps Rumored Token, FWA First Launch, Coinbase Listing Memes, and The Bull is Back!

0:04What’s up, everybody? Good morning. Welcome back to Full Port, your modern finance show with your host, myself, Hunter Orrell. And gmoney, he’s not here quite yet. He’s grabbing some water, but lots to talk about as every show. Glad to have you here. Our goal is to help you navigate these markets. And we’re in a bull market. So this is the market that you want to be navigating with the most precision and not missing out on the easiest opportunities and the most life changing opportunities, obviously. G, how are you doing this morning?

1:25We got a lot to talk about a lot of fun things. I’m doing I’m doing pretty good. Um, you know, it’s it’s hot down in New York, Puerto Rico, I’ve been playing a title, been getting my my fitness on and been enjoying that. And obviously, this action always makes a number go up always makes you feel a little bit better. But I will say like my sleep, my sleep is my sleep is getting worse. And it’s mostly because I’m like excited, right? I’m sure it’s like you probably feel the same way, right? Like when you’re excited about your day, you’re excited to check something or whatever. You’re just like, I wake up, I’m like, fuck, yeah, I want to jump out of bed and attack the day, as opposed to like, when you’re not like, you’re just like, I just want to sleep all day. So yeah, my laptop lives next to me in bed at this point. Oh, really? I do. So I try not to do that. I do that sometimes, but I just kind of like, dude, no, it’s like, it’s like my version since I work from home, it’s like, my version of leave it at the office, the office being, you know, 20, whatever 4050 feet away.

2:30I went to a Virginia Tech engineering event over the weekend, and I brought my laptop in the car all the way to DC. And part like, like purposely parked like in front of this venue so that I could like, if something happened, I could get to my laptop in time.

2:47Because I was like, there are trades I’m in that, you know, obviously, I can set like limit orders, but something comes out, and I was expecting stuff we can get on top of things. I haven’t felt that since last cycle, we’ve seen some gas wars, gas spikes, FWA first fair launch.

3:06Before we get into that, yeah, I want to highlight two things. One is you did say that when you were at your Virginia Tech thing, that people people shouted out Full Port.

3:17Indeed, yes, we got Full Port, the show got a shout out and it very, very exciting moment for me to be like, I was like, wow, the show’s like two weeks realistically old here. And it’s getting recognition from people.

3:32So yeah, so that’s one and then two and I shared with I shared this with you, I think on Friday afternoon, is one of my buddies from high school, who’s a MD at Barclays, was like, Hey, like, really, really enjoy the pod, really appreciate your guys’ take. So I’m like, sometimes I feel like when we do this, you feel like you’re talking into the void.

3:53So it’s always cool to, to get people’s feedback, you know, no matter how long you’ve been doing it. So like, I know I had this when I had my podcast a couple years ago, which was like focused on things differently, but on different things. But it’s always good.

4:06It’s always, it’s always cool to hear that to know, like sometimes, like, I’m sure it happens the same thing with you, right? Where people are like, Oh, yeah, like you were talking about, you were talking about this this week, like, have you looked at this? I’m like, Oh, and that to me is like, part of the reason why I like doing this is that it, it helps facilitate conversations around things that I’m interested in that I might other might not otherwise have.

4:29It’s almost more intimate version of Twitter, right? Like, instead of just tweeting something, it being tech space, you have we have people that are certainly showing up every single show and listening and even, you know, taking note of what we’re saying and going to looking at either those tokens or adjusting positions based on that, which, I mean, we even had people reach out to us with projects and companies are working on saying, Hey, I heard you talk about this on the show. Take a look at this, because it sounds like it might be something of interest. Love that.

4:59Hope it continues. And again, to everybody who’s listening, thank you for supporting the show here.

5:05Yeah, as you said, this weekend was busy, though, the main topic from the weekend that I won that touch base on here, and it is kind of opening tagline at the title of the show is there was a lot of rumor around the Trump family in some way dropping a token. And this story is is very fascinating. It is without a doubt that there were certain individuals that were posting about this in group chats and pushing this and pushing this narrative. They were individuals that were going into kol groups that are in charge of kol marketing that are known like whales known, like known big kol is going and being like, hey, something’s coming, and you got to be prepared.

5:52I think when you start to like reverse engineer the series of events, it gets wild. And I think the Trump family psy-opt everybody, and then dumped on us, which which I explain, because like, this is not my world. So I’m like all ears, and I’m probably gonna ask you questions. But all I saw was on the timeline, there were certain people that were like very obviously tweeting, like about it. Right. And so yeah, so that’s kind of all I know. But I like I also know in those situations, I have no edge, right? Like, I like I’m not gonna snipe this thing. I don’t have the setup for it. Even if I did, I wouldn’t trust it to do it with size.

6:39So I’m just like, yeah, that’s a game I won’t play. Right? Like, I think I sent you some money.

6:43I’m like, you’re gonna play this like, I’m down with fully losing this. But like, yeah, like I know I can’t do it on my own. So if you do it, like just add this to it. And if I lose it, I lose it. Also, I don’t think you put on the trade. So yeah, I was we were fine. But yeah, like, please tell me, tell me what happened because like, this is all this is like, I’m sitting here, I’m like, give me give me the give me the tea. So we have the Trump announcement on last Wednesday, at the White House with all of the crypto cabinet and all the crypto leaders of America. That put a lot of attention. Vlad was there. You had people claim you basically had everybody in crypto Hyperliquid mentioned. Then Thursday, you have rumors of Trump family in some way doing a token. People, the speculations are crazy. The speculations were that it was a barren token, that it was a truth social token, that it was a token related to the Trump accounts in connection with Robinhood, who had met privately with the Trump family prior to the meeting on Wednesday that was on the docket.

7:55How do we know that? Because it was on the docket. Yeah, I mean, everything. I mean, also, Vlad, and the Trump family, it does seem like the two have gotten closer. That was what I was hearing from some people. We also were seeing full, the most on flow and off flows were into Robinhood chain from known meme pointers as well. wallets that had one on previous Trump tokens were moving to Robinhood chain. So all these signs are there plus that individual.

8:22Sorry. But what aren’t the previous tokens on Solana? So how do you link them to their either address, I guess by size? Well, because you have to go through a bridge. So you see people selling. There are companies like Arkham that do wallet labeling. And then you also even have these like on chain sluice who are looking at individuals. You also saw those same individuals who are very prominently, you know, voicing about winning on the Trump and Melania and these other sort of insider tokens. Well, talking on the timeline and being like, hey, something’s coming, which, you know, I think, I think to a level, there’s some some larpiness happening there. Well, wait, my main question is, was kimchi talking about it?

9:08Was that the only thing that matters, right? By the way, I call that out before I call it out before, you know, it started going viral over the timeline this weekend. But sorry, go on.

9:22Well, OK, so all this is happening. We see even even large market makers moving money around at an ordinary clips. People start to speculate at this point. People are staying up all Thursday, all Friday, Saturday morning. Eric Trump tweets out, we are not doing anything. The notable thing that is happening Friday night, though, is in all this craziness. Now people are starting to buy the Trump token, which is now liquidating the shorts on Trump token that are, I mean, a shorted up to their necks. And you see this token go up 150 percent in value. And then the Trump family, three hours later, starts dumping their Trump token position. Wait, hold on. Bring up the bring up my screen because I’m I mean, like it. And so there are people there are two sides. People think that they were going to drop a token and then backed out of it. Other people are saying that they basically ceded a story, that there would be something coming or this was ceded to KOLs via somebody else who had a large short or had a large long position.

10:37But we saw, I mean, you know, millions and millions and millions of dollars of shorts liquidated here and a lot of people capitalizing on longs that again, you had 10 you had a 10 X trade here if you had 10 X long on this going into this move Friday, which is insane to me.

10:57Wow. I didn’t even know about this Trump coin move that that that’s how like unplug I am from this. But I don’t know. I think it’s a it’s a lot of interesting stuff. This was because this happened on Friday night, right? Yes. And what I found fascinating here was the the thought process of, you know, I was talking to a lot of people because we were tracking all of the on chain movements with Indeix, which is our indexing company. And we came to the conclusion that, yes, there’s something happening here, or at least there’s a lot of money moving. And we did all the reverse engineering of like, what about Trump? What about Truth Social? We were speculating that the Truth Social $100,000 payment to get information early was actually a token purchase, that he would view like be like, hey, we’re dropping a token for Truth Social, all those 100k people that did that were giving you allocation at a lower level, and you’ll have a vesting schedule, all these crazy hypotheticals that are all plausible, actually, at the end of the day.

12:01But it was like first, second, third, fourth order effects of this, this information is out there, what happens. The one thing that somehow got past me was the token that’s already out is going to move. And that that was kind of obvious in hindsight. Okay, so then, oh, but I don’t know how obvious it was, right? Because like, I think it was obvious started, it started going up on Wednesday, right? This is Wednesday, then this it happened on Friday night, right? But didn’t Trump, it was Eric Trump, right? That tweeted the denial. Wasn’t the denial on like Saturday?

12:34Yeah, it was, it was, I think, early Saturday. And that was probably that.

12:39Yeah, that. So then like, why was this? People were buying Trump coin in anticipation of the other.

12:47People were buying Trump. Because like, people were like, hey, Trump just came out and said Hyperliquid. We love it. We’re going to make, we’re going to make America great again with crypto. And essentially, they were like, this guy’s about to lean in and be like, yeah, Trump token, we’re going to airdrop it all to the Trump accounts. And every kid in America is going to love Trump token. And like, you never know what they they come up with here, right?

13:12And essentially, as the liquidation start running in, you have people, I mean, it was crazy, you had people adding the positions, trimming positions. And then that blow off top was essentially a huge bid came in, it just wiped out all of the shorts that that were near liquidation levels. And you saw that I mean, that candle was wild.

13:33Yeah, I mean, a lot of volume done on it, too. Yeah. Yeah, wow, this is this is so crazy. Because like, okay, because I would have thought what I assume, also, most memes were down into this, right? Because I think I saw that over the weekend, like, yeah, so in general was weak.

13:51Because like, what happened with with Trump coin, when it initially launched, and then Melania, it’s like, it was literally like 911 for memes, right? Like, literally, because it’s sucked up all liquidity, because people were selling all their other tokens in order to this token. So so if you played this, if you played this perfectly, the move was to sell all of your positions before this, the move happened, and sell your memes on Robinhood before everybody else did long into Trump token, sell on the pump, and then rotate back into Robinhood token, because then what happened is the second everybody realizes this isn’t actually happening, they’re like, Oh, my God, I sold my cape position, I sold my cash cap position.

14:36And and actually, in the middle of all of this, this rumors is so prominent that, you know, Trump is going to be doing something with Robinhood Friday at 435 30pm, Coinbase lists a meme at a $9 million market cap, which in a lot of that was what was that cake coin, right? No, it was. No, it was. Oh, my God. It was the cat. Oh, my God. I’m dry. Cash, cash, cash, no, no. Oh, my God. I’m drawing a blank here. It was like Katbag or something like that.

15:18I’m drawing a hard blank here. I’ll get it for you. It is base cat. Sorry. Oh, yeah.

15:26Which is also a wild chart to look at when you pull this up. But a lot of people are like, Hey, this is reckless of Coinbase because Coinbase listing something at $9 million, You have teams that have been working their absolute butts off to build incredible tech, incredible companies, and they’re looking for a listing, which is validation from a major centralized exchange.

15:50And then you have this meme at $9 million. That’s literally just a cat in a blue construction hat getting listed. I think this is what I always say about Coinbase and Base is that they literally are the Steve Buscemi meme of hello there my fellow kids. Like, like it just like, yeah, it’s like who’s telling them that this is a good idea, right? It’s like of all the things like there’s, yeah, I don’t know. I think maybe, maybe, maybe a good idea or maybe an okay idea. I would love to hear what the conversation was internally, but it’s like 15, 20% off the mark. Yeah. Yeah, it is. I don’t know. I think Kobe at the helm over there is going to help significantly, but, you know, I do think this decision, and I’m speculating here, I’d love to get somebody on from Base or Coinbase to talk about why did they choose to list this and what is their strategy going for like that. I would love to have that conversation instead of speculating, but I don’t think we’ll get that to be very public. I think it’s going to be hard to get something like that. I do. I do think this is partially pressured by the rumor of Robinhood doing a listing alongside Trump and them feeling the pressure of, Oh my God, Robinhood is just going to start listing

17:13everything and everybody’s going to be like, damn, they they’re getting it right. And they’re cool.

17:19And that’s, that’s the chain to do memes on. And they almost in a like defensive maneuver, like, all right, we’ll list something. They’ll get all the attention on us going into the weekend and cushion if Robinhood were to drop another coin or list another coin, we would at least be like, yeah, see, but we list memes as well. I don’t know. It was a lot of events in like a 48 hour period that I think kind of just like coming out of this, I’m sure people are listening that are like, dude, I don’t care about memes. I don’t the biggest part to walk away from is we had news, we had price action, we had on chain activity. You have to be looking at the same thing. You would have said, Hey, if this moves just a little bit, it gets, it gets, it’s going to get moving in a really fast fashion. And that’s, that’s just the market we’re in. I also don’t think I think it’s a great example of every time you tell yourself you’ve missed making generational money, this this market, or you’ve just missed the last easy 10x of the market.

18:37There’s another one out there. So yeah, I’ve had a lot of people texting me about like, I’ve I screwed the cycle up. Dude, there’s one every day right now.

18:46Well, screw this cycle up. We’re like a week and a half into the cycle.

18:50We’re in the top of the first inning still.

18:53Yeah, like, you know, I think, again, because I think I’ve had that mentality.

19:00I think it’s easy to have that mentality as just a human, right? Where you’re like, I’m going to hit this trade. I’m going to retire, right? Like, I’m going to retire my bloodline with this one trade. And I read something, I need to find the tweet because I’ve now referenced it a couple of times, but like, Kobe posted something years ago and somebody retweeted it of something of like, you know, I trust the process that like, if I was able to make like a significant amount of money, like I don’t need to make my full nut for the rest of my life in one trade. But I can make like a bunch of like good small trades that add up to like significant amount of money. And it’s like, if I were able to, if I was able to figure it out once, I think I’ll be able to figure out again. Right. And so I was like, you know what, that’s like a really good frame that like, I guess like I had it internalized for like my short term training, right? Of like, yeah, I just come in, you know, when I used to trade, I’d come in, trade, take money out of the market, be done for the day, and I take what the market gives me. But like, there’d be like investments that I would make where I’m like, I’m going to retire, like after this trade, I won’t need to work again. Right. And like,

20:12you know, and everybody wants that. I think everybody like kind of thinks about that.

20:15But like, Kobe really put it in a good frame where I’m like, oh, yeah, like, you know what, I don’t need to make it all in one trade. And like, God forbid I make it all in one trade, because then that’s going to be like me kind of chasing that white whale for like the rest of my life. I mean, Michael Burry, man. I would wish that that I’ll come.

20:42But yeah, like I and I just think that like you just people need to have that mentality.

20:46Maybe you miss something that’s fine. There’s always another trade, especially in crypto, right? There’s always another trade. I think some are like, for me, what I find is like some of the coolest, like I’ve seen some of the coolest stuff pop up in the last like three, four months that I went from like, not spending any time on crypto or on chain to like, they’re like, it’s like lock in season, right? Where for the first time, like I was I was I’m working out and I’m like, checking my phone every like five, 10 minutes, because it’s like, oh, there might be something that changes or whatever. So, so yeah, so I think that like, you can make it right. Like just because you miss a trade on the weekend doesn’t mean it’s over.

21:33Right. On the topic of making it maybe maybe another relevant question that is kind of relevant to us as hosts of the show. Do you think it’s possible if you were a somewhat main character, or you had a position of prominence of everybody is paying attention to you in crypto Twitter, and you fell off and vanished? Do you think you can make a comeback in into the bull cycle?

21:57Because I’ve also had questions of people saying, all right, like, I was huge in content creation last cycle, or and everybody like followed what I did. Now I’m, I’m not doing that anymore.

22:08But I don’t think I can make it back because it’s thread guy, rasmer, you know, banks, like this whole new kol scene. I think that like, you’re, you’re gonna have everybody has their audience, right? Like, so it’s like, just because I mean, I’m just trying to find like a good analogy, right? Just because I watch CNBC, and I know who Jim Kramer is doesn’t mean I don’t know who what’s your faces? I can’t even remember her name.

22:46But like, I don’t know who like, pretty Spears is right? Like, I think everybody, like, everybody has like their overlap of audience or whatever. And so I just think that I just think that like, it’s fine, like, you’re gonna find your audience, like, even with us, right? Like, I mean, I don’t like when we started this, I didn’t know who would be watching if anybody would be watching, but I’m just like, all right, like, this is, it’s fun. Like, we get on initially once one hour a week now to and like, shoot the shit, right about my first show is I think, like 100 people maybe, right? With like 10 concurrent listeners at the peak. And the one thing that I think, and look, pull this back into trading to for people listening, we stuck in our lane, right? We were like, hey, we’re not going to resort to doing like drama bits, we’re not going to resort to doing things just because we want number to go up, we’re going to provide value, talk about the market and, you know, build it and they will also, I do want to give a huge shout out to Razmur and Thread Guy because they know how to rage click, especially, I think, they do it, I think in different ways, but, you know, Thread Guy with his like takes that people just want to dunk on. And then I think Razmur, I think Razmur is really

24:06interesting because he like, he’s gone through like different stages of different, let’s call him characters that he portrays on screen. He’s really like a nice guy, like in real life. I really like enjoyed him and like this whole ex girlfriend thing that he’s that he’s on. Listen, it’s getting a ton of views. I actually could never be when they went. They went on stream a couple like last night or the night before, and I was actually watching them for like 15 minutes because I was like, like what’s going to happen or whatever. I got a little bored and then like I moved on, but like, I’m sure they I’m sure I’m going to be seeing some good clips out of that, which at the end of the day, like that’s what he’s going for, right? He’s going for those those views and getting clipped and going viral, right for whatever, whether it’s, you know, paying his ex girlfriend, you know, taking her a $20,000 shopping spree, or, you know, asking people questions which meme they want to buy, which is what he was doing a couple years ago, which I love that content. I really do love street interviews. Personally, I think it’s great. But you know, whatever, whatever works for you. And so shout out to them. But like, I think

25:18to kind of what you were saying is, you know, when we started this, it’s like, all right, I don’t we don’t want to do those like rage bait clips or like, you know, fake drama or whatever.

25:28It’s just like, yeah, there’s just top markets. And you know, the people people like what we have to say, they’ll keep on listening. If they don’t, that’s fine too, right? Some people give them a smile. There’s just like, yeah, I mean, like the real reason that I kind of like that. So I don’t think they’re going to love that that. Like, like, look at like any creator, or, dude, 100%, I completely agree. I will, I will circle back to in this idea of making it and there being opportunity and, you know, again, this Coinbase listing, you could have made a cool two or three acts there had you played your cards, right? The one thing that over the last 48 hours has gone And these Quotrons, which is a token and NFT currently up to a combined market cap of about $17 million.

26:17This is up like 40X from when people are originally talking about on the timeline.

26:24Again, another great example of tech on chain that you could have bought early and made a lot of money. So yeah, I know, like, listen, I bought it in my main wallet pretty early.

26:35I thought the I got hit up by a couple of NFT people, like really early.

26:40And then I looked into it, I’m like, oh, this is actually like really cool.

26:44And like, I think as I started understanding the game a little more, I was like, oh, like I want it because I think I had mostly liquid and like some NFTs.

26:55And then I was like, wait, like these things are printing cash.

26:59So like off the fees. And I was like, well, if this thing could end up being something bigger, like there’s a lot of upside here. So that’s kind of why I started getting involved and started looking at it.

27:10And then, you know, I think Sergio, I’d love to get him on here at some point, maybe this week or if not next week, I’ll DM him and see what his schedule is.

27:21But like, he’s like a great dev.

27:24He’s working really fast. And I think he’s good at memeing on X.

27:28Like he’s good at Twitter.

27:31I think it’s very I think like when you like back projects or you know, you buy into a project like you want founders that like that are the full package, right?

27:42Because I think there there’s some that are like really good devs that get like main character syndrome and like love being on X and love, you know, that the product suffers.

27:52Yeah. And then the product suffers whatever. And like he seems he gets like the culture.

27:57He’s great at like reply guy and it’s smart and it’s thoughtful and like what he’s doing.

28:03So like, yeah, I think it’s I think it’s really cool.

28:07I still think that like I still think that the upside on this is huge.

28:11Like, I mean, just kind of like the whole thought process behind, you know, the xStocks pools and funding the xStocks pools is just like, I don’t know.

28:21It’s like I think that that to me is again, going back to what are the most interesting things that are happening on chain.

28:27And I’ve said it a couple of times. One is FWA and what they’re doing and the gotcha space in general.

28:32So like the collectors’ crypt and these are doing, I think all that stuff is very interesting.

28:37And then also, I think what the experimentation, the grassroots experimentation that’s happening with tokenized stock, I think like those two things I’m like, oh, this is very, very cool and very interesting. So then it’s like, even like looking at this and even looking at CoTRons is like, it reminds me a lot of DeFi summer in 2020 with the key caveat being that instead of me getting a worthless shit coin that I have to sell as fast as possible, I’m getting NVIDIA or I’m getting like whatever one of those 10 stocks, right?

29:13And I know CoTRons isn’t the only one. I know Stonk brokers is doing similar.

29:16A lot of teams are building things similar, but I think the most interesting stuff with this is the fact that you’re not, the emissions aren’t necessarily just the token anymore.

29:26So that like you get the token, you need to sell it as fast as possible before the price goes down. Right? So it’s like, oh, I made $1,000 today, but that might be worth $500 if I don’t sell it fast enough. Right? Like I have a bunch of token emissions accrued that I know are sitting in like NVIDIA stock or Apple or whatever, you know, I have a bunch of them.

29:46So it’s like, it’s a sustainable infrastructure.

29:48That was what I was talking about with a bunch of the loot devs over the weekend.

29:53It was, you start to see more mature, sustainable assets be utilized in creative ways and you start to have these things, you know, to pull back to CoTRons here, you have assets that you can hold and they are going to generate other assets that are valuable and are going to remain invaluable.

30:13So I think, yeah, to that point, I think the really cool thing is too, because people have been hitting me up, like, as they’re starting to understand it, right? Because again, like my first thing, and this is like, this is I think just like crypto cultural adrenaline, right?

30:26It’s like, and it’s funny because I think it was one of the market wizards, I don’t remember which one, maybe Druckenmiller’s, right?

30:34It’s like when you have an idea and you like it, like you buy it and then you start doing research on it. So you buy like a small position so that you’re tracking it and then you start doing some DPD on it and if you like it, you start buying more.

30:45And so I remember when I bought it, like I was like, all right, I’m just buying the liquid ones. And then I started looking at it. I was like looking at how much I was earning on the NFTs.

30:53I’m like, that’s a significant amount of money for the amount that I put in.

30:58And I was like, what if I burned more?

31:02So then I make more money. And I was like, what if I burn more? And then I’m like, you know what? Like, I just want the yield, right?

31:07And so that’s why I ended up burning all my NFTs.

31:11The only ones that I have that are liquid are literally on Lute and FOMO for vanity P&L tracking metrics to be like, I called this at whatever, under a million. And so, yeah, I think it’s like really interesting.

31:25So I’ve had a couple of people hitting me up over the last like 24 hours or 12-ish hours kind of being like, oh, like, how does this work?

31:33This and that. Somebody was like, oh, if I have the NFT, like, did I miss out on emissions?

31:39Do I need to stake it? Like, did I miss rewards? I’m like, no, if you have the NFT, like, you literally just go to the website and like, you can claim rewards. Right. Like, it’s like it accrues to the rewards instantly, which I think is very cool. It’s very different.

31:51Right. Because I think in during DeFi summer, you had to stake your tokens in order to receive the reward. Right. And this is just like just by sheerly owning the NFT, you get the rewards, which I think is very cool.

32:05And it’s like a one way for four. Right. So once you get the NFT, because somebody’s like, oh, well, if I if I convert into an NFT, then I can’t sell it.

32:13I’m like, yeah, you can sell it on OpenSea.

32:14Like, it’s obviously not as liquid as being able to sell into like an AMM pool. But, you know, I feel like there’s been a lot of volume on OpenSea on it. So it’s pretty liquid.

32:26Yeah. And the main the main news line here being that right now, the value of fees that goes to these NFTs comes from the trading volume that is done on on OpenSea, but it will move to all of the volume and fees that happen on xStocks. And if you annualize out the fees that have been done on xStocks, and it’s a point three percent hook with 50 percent of that point three percent hook going to NFT holders and then annualize out the fees, it is not insignificant number.

33:03So I got really I got excited because I was like, damn, I should have done research here. One thing I want to say on that is it’s not you’re not getting fees on all xStocks volume, right? You’re getting fees on that pool, right?

33:17Like the Quotrons pool, right? So it’s not like if xStocks does whatever it is, a billion dollars, it’s not it’s not like NFT holders get a fee of all that.

33:26It’s like whatever whatever volume gets done through that pool, right?

33:30Like that. But like it’s still is it is it like if I own a NVIDIA Quotron, I only get fees from that pool or is it those pools all accumulate just back to the general Quotron supply?

33:41I think he’s still working on that.

33:44There’s still but like but I believe it’s going to be across all the pools. Yeah, that’s what I think I understand.

33:51That’s kind of the way it is now, or I guess not not the way it is now.

33:55It only accumulates fees from the main pool.

33:58But but what I’m saying is like just xStocks in general as a platform, right? Is like it does a ton of volume.

34:05So it’s like if it does volume, you know, some of it trades on Solana or on other chains or whatever.

34:11Obviously, there’s no fee generation from there.

34:13It has to be like the Quotron LP pool, the Quotron’s AMM on ink, right?

34:19So hopefully like a single I so this is what I think is really interesting about it is that given like the holders list and the people that have like vested interest in it, right? It’s like you now, right? If somebody’s like, hey, Hunter, we want to do something with RWAs.

34:35This is kind of what we were thinking you could be like, hey, like, I think I would support it, like, and then I’d introduce you to gmoney who would also be interested in supporting this if you were building on top and you were routing to the Quotron’s pools, right?

34:48Because like as NFT holders, we now would receive a portion of whatever volume goes through there. And so then I think it creates like this really cool flywheel where, you know, you basically have in my opinion, like the biggest, baddest BD team in crypto.

35:05If you take a look at that holders list.

35:06So yeah, I think it’s like cool.

35:10It’s like it’s very like that’s why like yesterday was like PVE because like, you don’t have to be selling on each other to be making money here.

35:20It’s more like, all right, just get people to do volume and they there’s a pipeline of fees coming to you. Right. And so like that to me, when people say PVE, like PVE, when people say that in like meme coins face, it’s just kind of it’s like basically three, three, right?

35:37It’s like, all right, nobody sells.

35:39So this thing can go higher.

35:41And I think the interesting thing with this, because like I have a bunch of fees accrued that I’m like, all right, I have a ton of protons already.

35:48So it’s like, I really wanted to keep on like taking my fees and buying more protons.

35:53But I’m like, I can’t do that for the sake of like diversifying the project more.

35:58And so I’m like, now I have a bunch of stuff that is accruing that I can now play with on chain, whether it’s to support another quote on project or support like whatever, another project. How much have you made just owning the NFTs in the last 24 hours?

36:12The last 24 hours, maybe like, maybe like 1500 to 2000 dollars.

36:18Yeah, that’s not bad. That’s pretty crazy.

36:22Yeah. And so, but again, like, it’s like my, my view is like, all right, how can I use this to build out the quote Tron’s ecosystem?

36:31And like, you know, I had a bunch of people in my VMs yesterday, after I was like, if you’re doing anything with, with RWA, so organized RWA is, I want to talk. And it’s like, yeah, like how like, you want, you want me to be interested in it? Like, there’s an easy way for me to be very interested in it, right? And to have a vested, a vested stake in your success without you having to really give me anything, right? Like, I’m not asking for equity. I’m not asking for token allocation or, you know, payment for being an advisor or whatever.

37:01It’s like, yeah, like route to the pools. Like, I’ll be happy to support you. Right.

37:05And it’s like, guess what, you do that, not only will you have me interested, but you have, you know, seed phrase interested, Hunter interested, like, you know, again, I told you to look at the holders list and it’s like, you know, you had Frank buying some yesterday, yesterday afternoon, right? And it’s like, I don’t know, it’s just like, I think it’s, I think it’s a very cool concept. And I think it’s very interesting. And I think, I think there’s a lot of opportunity.

37:32Look, I want more experimentation with RWAs on Jane. I think this is a fascinating one.

37:40And then the last point here is Sergio tweeting yesterday that there’s some relation to Ink Chain as well. Obviously, well, that came out, that came out over the weekend, right? That’s kind of why over the weekend, basically, he put out a tweet saying that they were going to bridge over to Ink.

38:00And then it was retweeted by the Ink Foundation, retweeted or liked by Arjun. So there was, you know, a lot of speculation around what’s going on there. So that and then like, you know, more, more developments coming out and happening. And I think just people starting to understand what’s possible here. What do you think it takes to be just on like the topic of chains? Right now, we saw Solana who had, you know, they were number one chain by activity and volume and wallet activity. Arbitrum has made some interesting moves here, Ethereum kind of coming back.

38:40And obviously Robinhood has been kind of like the golden child of like the start of the bull.

38:46And base seems to be starting to figure things out. I have a lot of attention there. BSC actually had a pretty good meta on the meme side a couple of weeks ago. It’s actually remained strong as well. What do you think it takes to like, for anybody who’s building a chain right now, or is right in chain? Because we have people like abstract who were really prominent. And now that there’s a lot of volume coming back, like what do you think these guys need to do to like, or even like if you’re watching. I think personally, like, I think it’s like, I think the chains need to just be supportive, as much as possible of builders. But I also like understand because this is kind of like what’s happened in the past, right? Chains are like, all right, we want to be supportive builders, we’re going to start a grants program, builders come take advantage of the grants program, build for a couple months, and then move over to the next person that’s given the grants program. I don’t know what the how to solve for that personally, you know, like I haven’t, I haven’t been like, involved on that side of the business in terms of crypto. But like, I just think like as a builder, you want you want places you want to build where there’s users.

40:02And there’s, I think, like support from like the foundation. Yeah, right. And I think like, those are the things when when people like complain about a chain, from what I’ve seen, is there, they’re basically complaining about a lack of support. Right. And I don’t think it’s always monetary monetary support. I think it’s more like, hey, you know, exposure. And that’s one thing I will say that that abstract did really well, they were able to get people exposure.

40:29Now, I think the problem was, I think there wasn’t like enough liquidity on the chain, because they were focused on consumers. So it’s like, I think part of it is like, you need to build out the infra before you can really get those like, consumer grade experiences up. But yeah, I think like what people want to see, and this is why I think Robinhood has been popping for the last couple weeks, months, is, you know, they want to see the highest levels of management, engage, right, and say, hey, like, we’re paying attention, right? Now, I think a lot of times people will maybe read a little too much into this and be like, oh, vlogs, like tweeting about memes. So like, every meme coin is about to be listed on Robinhood.

41:16I also don’t think that’s the case. But like, there’s probably some like, happy medium in between. So I mean, I don’t know, you know, like, I know bass has been around, and they’ve been doing it for a while. Again, I think bass is just always, maybe that changes now. But yeah, bass has just always been like a little bit off the mark. Right. And so yeah, I mean, I think like, I think for users in the ecosystem, and again, like for me, what I find interesting, because like, we’ve had this combo, like, I’m not a meme coin trader, it’s I don’t have an edge there. I don’t, it’s not my style of trading. It’s not how I like to trade. I like, like buying stuff that I’m like, oh, this is like, thesis driven, I understand the story here. And then there’s like some sort of value accrual, which, like, I do want to, I want to get into mainnet in a second. But that, that to me is like, kind of what I find interesting.

42:11So like, when I think that, you know, talking about, how do we get maybe institutional capital wanting to play on chain besides hyper liquid and perps products and like lighter and stuff like that.

42:25I mean, building these cool new primitives, right? This is like what made DeFi Summer so cool in 2020 was that like, you had tokens and protocols launching at near zero, that allowed both VCs and individual investors to get in at very low prices.

42:45So a lot of people made a lot of money off of it, right? And then that was in 2020. Then 2021, obviously was like the rise of NFTs. But then I think what ended up happening was a lot of, a lot of that price discovery started happening, not in public, right? So people would do seed rounds. And then they would do launch the token at TGE at a really high valuation. So that like the little guys buying the top, their exit liquidity, right? And so then I think when that happens, then you get the rise of memes, because now all of a sudden, like you don’t have VCs, evil VCs dumping on you. I think this was like in 2022, 2023, where this narrative started taking hold. And you know, now there’s like different types of people bumbling, right?

43:31It’s like, that’s the effective version of VC. And then the question is, at what point do they start dumping on you, right? Because there’s no lock, there’s no vesting, at least with like, the VC rounds, like there was vesting. So it wasn’t like, Oh, everybody just sold this thing goes down 99% among candle. Yeah, this thing’s going down 99% over the next six months. So yeah, so I think like, to me, it’s like, I think people just want to be experimenting, doing cool shit, because like, there is like, like, I’ll just tell you from like the last couple hours with coach on it’s like, there’s people that like, have some really cool ideas. That I’m like, Oh, that’s like very, very cool. I like I like that. And like, it’s better than just like, oh, funny picture number go up, which is what like, I don’t like, or this is gonna get listed, like, the the catalyst is that this is gonna get listed on exchange. So like, you just dump it, right? You dump it as soon as you get listed. So it’s like that, to me, isn’t like as interesting. I like I like these, these ones that have that can be more thematic, because that when something’s more thematic, and people can be like, Oh, I can extrapolate growth from this.

44:41That’s when I think you get like, institutional bids, right? The reason why hyper liquid as an institutional bid is because it’s one, it’s something that almost all institutions understand, right? It’s like, oh, yeah, this is like, you’re making markets, you’re the exchange, you’re collecting fees off of that. But then too, is like, there’s a buy and burn mechanism, right?

45:02Like, it’s like all this stuff that’s like, oh, you’re, you know, the plate, the price can become really reflexive in an upmarket. And so I just think like, the same types of things like this is why I think the quote, tron stuff is very interesting, because it’s like, the plate, the price can become very reflexive very quickly with some success, right? And I think success begets more success. And, you know, the everybody be happy because it’s not launching at 100 million fdv and going straight down, right? It’s right. It’s changing, you know, you got to love it. There’s plenty of opportunity to get in early. And I think now is the point where, you know, I know some people listen to show for equities and the AI trade. And we haven’t talked about that much in the last three shows.

45:47Because it seems like for the first time since we started the show, if you are looking on chain, if you put in a few hours, if you’re talking to the right people, if you’re listening to shows like this, you’ll come across a trade that can 10x 50x over in a very short period of time.

46:05Even cashcat, which is scrolling across the bottom of the screen, we saw this basically double up from 100 million in the last week. And, you know, I had said there’s a lot of money flowing into Robinhood. And on the dip with everybody selling, if you had been tracking that token, you would have started stabbing some money at that being like, Hey, I still think Robinhood is is going to be around. I don’t think it’s over. We know they’re going to talk about it. And you’ve made a lot of money there. I guess, do you think you think that’s a valid, a valid take? And then are you still looking at AI stuff at all right now? Or are you just like, Hey, on chain season that that’s Yeah, no, I’m still looking at AI stuff. I still have a ton of my equity exposure. I haven’t changed anything in my equity book. I don’t think anything has really changed. If anything, I think the bull case for it, like, has gotten stronger. Because we see, right, even with the announcements that came out yesterday with regards to Besant saying that he’s going to increase bond buying, you know, and then Oh, my God, Druckenmiller saying, I don’t think this is a good idea. Although people I saw this morning, people were calling him out for putting out AI

47:25slop. Because there was like, there was a cloud ism in there. And I’m like, Oh, that’s, that’s kind of funny. But uh, but yeah, I think that like, so to me, again, this is why I think like, Bitcoin has been heating up as well, is that the Fed, the government has made it abundantly clear that they’re not going to wait for a 20% drawdown in the stock market to bail it out.

47:55Like, if you look, can you bring up my chart real quick? If you look at the spy, I mean, that is, I don’t know what percentage that is, that’s what 5% maybe not the highest cues are, you know, less than 10% from the highs, maybe like seven or 8% from the highs.

48:16And they’re already like starting to bring out the bazookas, they’re not waiting for Q 600 spies 600, right? Oh, spy 600 would be scary. But but yeah, like, it just like, they made it abundantly clear that they’re willing to print. Again, this goes back to what I’ve been saying, you know, for close to a year now, definitely, since we started the show of like, if your view is that AI is a matter of national defense, there is no slowing down. In fact, we probably speed up. And so my thesis has been even if there was some sort of AI credit event, that it would be solved probably in a matter of days, because if credit froze for anything longer than two weeks, we probably start losing our any any semblance of a lead that we have against China. And so like, when even when you look at like, I think when Silicon Valley Bank imploded or went under, was it two years ago, three years ago, I think at this point, it was resolved within like two weeks.

49:30So I would say that it anything with AI credit gets resolved definitely in less than two weeks, probably in like 48 hours, if I had to guess, because it’s, it’s just like so important. So they probably already had this conversation, too, they probably have prepared and said, like, look, this is a potential if we do have some sort of unwind or moment here, we need to like get on top of it, same day type thing.

49:55Yeah, well, I think they know that, right? Like, I think they know that like, we have very smart and competent people in the administration, in terms of like macro economic policy and stuff. So I think they totally understand that. I think that also explains why Bitcoin has been bid so hard, right? And it hasn’t really pulled back. And gold, why gold has been bid so hard and hasn’t pulled back gold is up. $600, you know, since the Japanese yen intervention, right? So that’s what is that 15%? You know what I mean? So like, the, like the signs are there, the hard money is like starting to move and show. So like even, you know, like I’m sitting here trying to like, you know, trade around a little bit, I like a small purpose account that like, I put some trades on, I bought like some pump over the weekend, on like leverage just for like a reaction move higher, like if we continue with a tight stop, on not much leverage, but like trading around stuff, because I’m like, yeah, like it’s like, you can see there’s like a panic bid, right? And that’s why these things, you know, today, I think is the first, the first time, well, I guess gold pulled back a little bit over the weekend, but you know, there’s like the first time gold, Bitcoin’s not at the highs of the day, right? So,

51:10you know, it’s like, I know, it’s pulled back 4% already. Yeah. And like, I know people are like, oh, wait for like the vicious pullback or whatever. And it’s like, yeah, who knows? Like, maybe, maybe this is it. And then you have to be a little aggressive on the pullback. Again, because the Fed, you know, the US government is showing their hands. So like, this is great, like obviously for crypto, and then also great for on chain. Because I do think that, you know, people that trade on perps, make some money, you know, then you splash it around into like alts, and then you put a million dollars into it, right? You can put a significant amount less and still make a nice chunk of change, right? But like, I think this is where it’s like, you want to be deploying into interesting things. And like, that’s why I think the FWA stuff is really interesting. I want to talk about that for a second. I don’t know if there’s anything else you want to talk about on like, the macro or equity side of things. Because like, it’s also like, we’re also, that being said, we’re also in the summer doldrums here, right? Like, I know NVIDIA reports tomorrow. So I think, at this point, there’s probably not much trading going on

52:35into the number. And then it’s also the last two weeks of summer. So people are people are off.

52:42Yeah, I was gonna say it feels like a lot of people that are in group chats, or that I know that are on Wall Street, or like, Hey, I’m in St. Tropez, or, you know, last weekend at the beach type thing. And it also feels like the news cycle has slowed down significantly on on this front, it used to be like, in your face, screaming, maybe also the timeline has stopped looking at it a little bit. Just because of how hot on Jane is, but there does feel like a little bit of like a lift off of the gas here from from like, hey, are you gonna make general racial wealth being in these trades right now? Or are you missing out? No, I don’t really have anything else to go over. I was just curious on your on your take there. Again, you’re a little bit more not a little bit more, you’re much more of the expert in that arena that I am. The Yeah, no, I again, I think it’ll be interesting. I’m I kind of think Nvidia, I kind of think Nvidia is gonna I think Nvidia is gonna go up off the number personally, I just think expectations are probably pretty low. And I think they’ll probably have knowing Jensen, he probably has something up his sleeve. Because that’s, that’s the way he is. But I think the prediction market here. I mean, that is a prediction market.

54:02Say, let me see, I can pull that off. I mean, they probably have it as a beat if I had to guess for sure. Let’s see here. Nvidia, Nvidia, Nvidia, let’s see, will Nvidia beat earnings 96% chance that it will yes beat earnings. That is the position on Polymarket right now.

54:28The Are there any other markets or no on that? Around Nvidia. Yeah, around Nvidia numbers.

54:37Largest. I’m gonna take a look at it. Maybe I’ll take a look at it today or tomorrow. I know Kalshi has been doing some stuff. Well, here’s an interesting one. What price will Nvidia hit in August 2026? The number one. I don’t like those types of bets. What does it currently trading? What does it currently trading at? 211 I think. All right, this has it at 232.

55:00So a 5% move up is a 25% chance. I mean, that would be nice. I’d be very happy but 232 would be at all time highs right below. That number is down. Maybe the more interesting statistic here is that number is down from 75% just a week ago. It was a 75% chance.

55:26Oh, well, yeah. Well, Nvidia was also I think like 228. Yeah. It was, yeah, it was like almost 230. So a week ago was up there. So yeah, I mean, listen, I think, again, I think Nvidia at this point, people are probably waiting. I’ll be reading it. I’ll be going through it, analyzing it so we can definitely- Can you walk me through and maybe like the listeners? This is good. Like when a company has earnings, walk me through your process of let’s say you’re like, I want to get capital as part of the game here. Are you like deploying capital beforehand? Is it a, I read then deploy capital? So I think so personally, like right now, I’m not the, I don’t deploy. I have my Nvidia calls. There are long term calls that I’m not going to add to, I’m not going to do anything with them into numbers because it’s like a long term position.

56:26What I would do, right? If I were still trading, I generally wouldn’t take a huge position into numbers because I would trade like we were talking about last week, I would trade at a prop firm.

56:37So I wouldn’t take any, I would take, I would almost never take a position into numbers.

56:42Then as soon as it reports, I also before it reports, I have a very good idea of where expectations were because there’s like one thing to say, okay, these are the numbers, but then what you need to do is you need to measure it against expectations. So it’s like, they could beat their revenue forecasts, which they most likely will, because you know, like you always want to set the bar low and beat expectations. So that is good for stock price generally. And so, but then they set their expectations, but then analysts will set expectations based on like, you know, whether they think the company’s doing well with their channel checks and their read throughs and stuff like that. It’s like, you know, if Nebbius reported blowout numbers two weeks ago, what does that mean for NVIDIA if, you know, they buy Nvidia chips and stuff like that. So they always are making adjustments. So then, you know, you need to know what those expectations were. So then when I was trading actively, I wait for the number, number comes out. I do like quick analysis of like, usually there’s like one to three like key numbers that matter that will drive it. Like whether it’s revenue or gross margins or always like your earnings forecast, your projections, your guidance.

58:06And so yeah, you read those and then based on that, you’re like, all right, well, you know, where can I find liquidity, right? So it’s like, you’re very quick and you go through the numbers and let’s say they miss and you see that it’s trading like in line to where it closed. Like, you know, you short the fuck out of it. You know, you get as much size as you can. And then the real question is like, how low would you short it? Right? So they miss if NVIDIA misses, it’s probably going down 10%. So like, you probably short it down to like three or 4% with size. And then like the closer it gets down, you know, you trade smaller size and then you’re quickly taking stuff off and scalping and stuff like that. But then, you know, that’s off the headline reaction. And then obviously there’s the conference call.

58:52And then people are like, all right, well, maybe they missed, but it was because of like a one time thing or, you know, it was like some something that was like, Oh, this was one time or we weren’t accounting for this. But if you like take, if you back that out, it’s actually like a beaten raise. And then so then it could reverse, right? So it’s not like, Oh, they miss, like it’s going to go down 10%, you know, and not reverse. So like, I’m going to hold this overnight or whatever, because they could say something on the conference call that maybe gives clarity to that, that reverses it, right? So like a lot of times, like, especially about, you know, a name like NVIDIA, like you’re trading the stock while you’re listening to the conference call based off of comments said on the conference call. So that would be like how it would trade it, right? And so immediately after the number, then maybe like, let’s say the next day they report on Wednesday. So on Thursday morning, I’m reading like a bunch of notes and I have my opinion on NVIDIA as a business. And I’ll be like, all right, well, I think, you know, maybe it’s down 10%. And I’m like, ah, I think that like, ultimately, they’re like, they’re

59:55just kind of like, resetting expectations. And I think these catalysts are coming up. So I’ll buy, you know, longer dated calls, or I’ll buy calls for like, six months out or whatever.

1:00:06And that’s generally like how we trade things, for the most part, right? And so but now, you know, like, I have my long term calls, and then I’m going to, like, you know, read some previews, understand like what the setup is. And then based on that, like, I won’t be trading the number immediately after but like, I’ll listen to the conference call or at least maybe like read the number immediately after but like, that’s probably like the way I have it mentally framed in my head.

1:00:50Will you be or you’re going to be listening and actively looking for a trade here if one presents itself or you’re just like, like, my long term position.

1:00:59Probably not if I’m being perfectly honest, just because like, I don’t want that like, like, kind of like what we said before is like, you’re either doing this full time, and you’re fully I’m not really committed to it or you’re not.

1:01:11And if you can’t sit there, eat, breathe the market and live the market 24 seven, at least I feel that I lose a lot of my edge.

1:01:23Like I can understand the story, I can know like the long-term vision.

1:01:29So if I buy NVIDIA here or 3% higher, it doesn’t really matter. But when I’m trading highly levered, buying here or 3% higher, is a big difference.

1:01:41So like I need to, but you need to be fully concentrated and I can’t be like, oh, like, I mean, even like we were talking about last week, right? Like I was gonna buy Ethereum, like after that news came out of like buying the long end of the bond.

1:01:55And I was like, oh, let me just take this call.

1:01:58And then next thing I know, ETH is up like 15%, I’m like, dude, I was like looking at it to buy it with like some leverage.

1:02:05I would have made like a nice nut on it.

1:02:07And I didn’t because like I wasn’t locked in, but if I was trading, I would have been like maxed out on it with like really tight stops, like watching everything.

1:02:16I would have crushed it, but it is what it is.

1:02:18Those are the decisions and choices I made.

1:02:20Yeah, no, it’s understandable.

1:02:23Well, we’ll be paying attention to NVIDIA earnings and see what happens there in the coming hours.

1:02:33I think, okay, one last thing I wanna talk about is like, I think this is a big deal.

1:02:38FWA. As I say, it’s going across the bottom of the screen here.

1:02:41Cannot miss it. Okay, I did it. All right, cool. Yeah. FWA, I’m not gonna bring up the chart.

1:02:46I don’t think, I don’t think. I think the chart’s interesting to chat about here and then we’ll get it off the screen, but.

1:02:52Well, I don’t think we even have, I don’t even have it there.

1:03:00Yeah, it’s not on trading term.

1:03:03So basically FWA, they launched their first PFP collection into the pool to stress test the FWAIR, I don’t know how to pronounce it, FWAIR launched mechanic, but I’d say it went really well.

1:03:22They had the highest three hour streak of volume ever recorded in protocol history, which is higher than also during the farming period when people were spinning just to collect FWA.

1:03:39So I think that’s like hyper incredibly bullish.

1:03:42I know a couple of people that kept on spinning for hours and listen, the floor on those things I saw this morning is $8,000. Yeah.

1:03:50So you spent, you would spend, I think somewhere between it was, I think at the end because so many things were getting spun. And so basically, right? Like when you win, when you do a spin, you either elect to take the ETH or you take the NFT, right?

1:04:07Even if you take the ETH, the NFT is now then out of the pool until the person that supplied that NFT backs it with ETH and puts it back in the pool.

1:04:16So then over time, the supply was just going lower and lower, right? And so the price, because the number of tokens in the pool was higher value, the price started creeping up.

1:04:30And I think, I thought it was really interesting, right?

1:04:33I thought it was very interesting and had a ton of spins.

1:04:38I just think that like now if I’m rhinotic and team, I think it’s like you just want to make sure how do you get the best drops on the platform?

1:04:49I had, listen, I had some artists being like, oh, I don’t like, I want people to collect my art.

1:04:55I don’t want them to like, they’re gambling or whatever.

1:04:57I’m like, okay, fair. I don’t think there’s like, this is the only way you should be launching like an NFT collection.

1:05:03I think it’s the most fair personally, because I think there’s no insider bundling.

1:05:08There’s no gas wars.

1:05:10There’s no whitelist. There’s no, you know, like all these things that can be gained, right? Because even like, I’m like, dude, like I think I’m decently technical.

1:05:21I can never, like if anything that required a gas war, I’m like, I’m out.

1:05:26I’m like, I know I’m not going to win.

1:05:27So like, there’s no point in even me trying, right?

1:05:30And like, I’m better off just trying on the second.

1:05:33Because like, even like the other side mint, dude, like, I think like $200 million was spent on gas.

1:05:40Like that’s just like a waste. That’s money that goes to, that was going to miners and validators that like never came back in the ecosystem.

1:05:47Like wouldn’t you rather, like, like that’s kind of like the point that I was making is like, okay, like I’ve done, I’ve done a couple of mints. I’ve done, well, we’ve actually done mints.

1:05:58Dude, there’s a lot of work that goes into a mint, right?

1:06:00Cause you had to make sure the server is good.

1:06:04Yeah, like all this shit that you need to go with, like how do you fight the bots and all this shit?

1:06:08And it’s like, dude, like you guys think that it’s like headline number, this mint, like there’s some significant amount of money that is spent.

1:06:14Oh yeah, the backside is crazy.

1:06:17To get that to the place that it needs to go.

1:06:20And now all of a sudden it’s like, I’m an artist or I’m doing a collection.

1:06:24I just like put it into the protocol.

1:06:26There might be a gas war to back it, but like that’s not my problem.

1:06:31And then like people just spin.

1:06:34I don’t know. Personally, I think that is very fair as somebody that is a buyer, right?

1:06:40So I think the mechanism is very great.

1:06:44I think it’s very elegant.

1:06:47I’m very much looking forward to him doing more.

1:06:55And yeah, I think it’s all, and I think it’s like massively undervalued at, I don’t know what it’s at right now. So to push back real quick, me and I push back, but I’ve spun like 15 times now.

1:07:08I’m probably down like 0.2 ETH because I just keep getting friendship bracelets and 10,000, whatever the other collection is.

1:07:17And I want nothing to do with either of them.

1:07:20And so I’m just taking the ETH.

1:07:24Isn’t that like somewhat similar of a like, that’s just me blowing gas, trying to get the thing that I want where- You could also just wait and buy it from somebody that lists it after they get it.

1:07:41At a higher, but it could be significantly higher price, right?

1:07:45I think the backing for the PFPs was like 0.25 ETH.

1:07:49So the difference here is 0.25 ETH versus buying on the open market for four ETH.

1:07:58It’s significant.

1:08:01Yeah, I mean, but I think it’s like, personally, I think like you’re not buying 50 of them, so you get better distribution. I’d be interested to see of those 111 NFTs, how many unique owners there are. I would assume there’s probably like- I don’t think you can look at that because I think there are a lot of people that are running 12, 15 different wallets and just doing five spins, five spins, five spins, five spins.

1:08:29It looked to be like you just had people spamming it that have huge ports and are like, look, if I can get 500 spins in or more, I have the bankroll to do that.

1:08:44On a long enough spin rate here, I’m going to hit EV positive.

1:08:51And it’s a statistics game at the end of the day, where I think for the individual who’s like, look, I can’t blow $500 and lose 0.2 Sol trying to get this.

1:09:05And essentially like for me, let’s say my max drawdown I can take is $500 loss.

1:09:12I’m out, I got nothing out of this, except for some FWA points.

1:09:16That is where I’m like, look, it is to a degree, I don’t know why, like that was the one that I was like, oh, damn.

1:09:26I think you bring up a valid point, but to that, I will say, I’m looking at their open C page right now, it’s 67% unique owners, 75 unique owners.

1:09:36I think that’s like, I think that’s really good distribution.

1:09:40I think when even, you know, I think like 35, 45 was a very good, really distributed. Yeah. Right. And so it’s like, I personally think, you know, I’ve never really spoken about this all that much, but I do think that like, more important than like NFTs is like how many, what’s the distribution?

1:10:03Cause like you want, like if the whole point of work is, you want as many people involved as possible, right?

1:10:10And so I don’t know. I just think that like having that many unique owners, I think is very cool.

1:10:16I think it’s very good. It’s very good from a distribution perspective.

1:10:21If some people get locked out because of it, it is what it is, right? Cause it’s like, it’s either that or you get locked out because I mean, to your point is like, if you can only spend $500 on it, right?

1:10:32Then what happens if the gas fees more than $500?

1:10:35So then it’s like, you’re in the same point, right? So, It makes sense. Makes sense. You know what I mean? So it’s just kind of like, it feels like also I think the interesting thing is like somebody was like, oh, I want to buy these.

1:10:45Did I miss it? And it was like, oh, well only 45% of them have gotten hit so far. And this was like two and a half hours after it went live.

1:10:53It’s like, you still have a shot. Yeah. You know what I mean? You still have a shot. Did you end up getting a PFP?

1:11:00No, I didn’t. I didn’t spend. Oh, somebody spun. Actually somebody spun mine and he offered to sell it.

1:11:05And I’m like, ah, do I wanna?

1:11:07I’m like, I actually personally would rather keep the EAT personally, but I should have bought it because I think it was at two and a half EAT at the time.

1:11:15And now it’s like double almost.

1:11:18Man. Well, we’ll keep an eye on it.

1:11:21The other thing, I actually enjoy doing it.

1:11:27I did enjoy clicking spin.

1:11:30It definitely hits off the dopamine side.

1:11:33And I could see this doing really well again in a consumer app, but ETH mainnet, holy.

1:11:39Like I hate it so much.

1:11:42I’ve been waiting so long. Yeah, listen.

1:11:45That I think is like the biggest issue.

1:11:47I’m sure he’s thought about it, but I know like, you know, these just to save Ethereum. I would be surprised if you see like apps that get built on top of it, maybe using L2s.

1:11:58I actually was talking to this one builder that I thought had like a pretty cool, interesting idea. I’m like, I think that’s good. I think that that could work.

1:12:25But I just think that I think there’s an opportunity there for somebody that wants to think on top of FWA.

1:12:33Right.

1:12:36Man. Yeah. I mean, look, you have me, the gear is spinning in my head.

1:12:40I think there is certainly a way to do this.

1:12:45Oh, well, look, this is why I love the industry.

1:12:48You’re going to see people experiment, create, and ultimately you’ll probably see something, a big winner that goes mainstream come out of this because the gacha mechanic has truly kind of taken over as a new market for the beginning of the cycle where throughout the bear, it certainly was prediction markets.

1:13:09Now it seems to be gotchas. And I would say the other leading arc is going to be the tokenized equity side.

1:13:17Somebody will do something there that none of us that we’re expecting is truly creative and brings a whole other group of people on chain.

1:13:24So yeah, I’m paying attention.

1:13:28And it’s another example of why you should always be experimenting. I don’t know why.

1:13:33I’d like force, I had to force myself to try out FWA this weekend instead of pushing it off for like the last three weeks.

1:13:42I know I want to show with like the biggest bull poster and I was still like, I don’t know, man.

1:13:48Am I the biggest bull poster? I hope not. I think there are. You are, dude. Oh my God, dude. There’s like, there’s a tweet at you and it was like, you can’t like, they’re like, oh yeah, yeah, yeah. One of these bag and FWA must be like, so you must be like, so over leverage in this trade.

1:14:03I’ve never seen that.

1:14:05Well, we kind of went at the timeline.

1:14:07I don’t know if you saw it, but like he was just kind of like, my speculation is okay. My form of gambling is fine.

1:14:13Your form of gambling is not right.

1:14:15And I’m like, get the fuck out of here, man.

1:14:17I’m a Flamingo Dow member. I am a Flamingo Dow member. I don’t know what this guy is, but regardless, whatever.

1:14:24It’s crypto. These are permissionless systems. You can do whatever you want. And that’s why we’re all here, right?

1:14:28It’s not like, oh, I have to do the things you want.

1:14:31Do I love mean coin trading? No, but like, if that’s how people want to utilize block space, that’s great.

1:14:38That’s why it’s permissionless.

1:14:41That’s why we’re here. So yeah, like my whole thing is like at the end of the day, it’s all gambling. My favorite part about decentralized tech is that you can have somebody wake up in the middle of, in middle America and decide to launch the 730th vamped coin of, you know, Doge and spend $150 to launch that token and then think it’s going to be a winning move for them.

1:15:08And then you can have somebody wake up and a winning move for them. That’s why I love is because there’s nothing stopping that from happening.

1:15:17Yeah, I mean, we’ve seen some dumb things happen on Jane.

1:15:22Actually, somebody text me.

1:15:24I was talking about how we’re like, I’m a part of the old cabal, right?

1:15:31Like when NFTs were happening, I was a big name when I did stuff on chain, people like, oh, look what Hunter did. And now I’m kind of old and nobody cares what I do to an extent.

1:15:41You’re a watch donk. I know. And I was like, I said, now I know how Nate Alex felt last cycle.

1:15:46And the person replied back and said, at least we didn’t buy a bean for a million dollars at the peak of the market when it was starting to pull back.

1:15:56I mean, truly one of the worst trades I’ve ever seen.

1:16:00Batman knows how to vaporize money.

1:16:02Who’s Nate Alex?

1:16:04Yeah. I love Nate Alex. I know. I love him. He’s got great hair. He’s cool. He sold me. He sold me like my first crypto.

1:16:12He sold it to me. He sold me a zombie at $20,000.

1:16:15That was my first. Wow. Yeah. Yeah. And then like, again, you’re making my point very easy.

1:16:22No, but he’s a great trader.

1:16:24He was like one of the goaded NFT traders alongside Pranksy back in early NFT days.

1:16:31And he’s actually he’s like one of the nicest guys.

1:16:34Yeah, like one of the most fun guys to to go drink with or hang out with. Do you think Pranksy is good for the space?

1:16:42Because I saw Pranksy ask Pranksy one of the timeline is like thinking about launching something. What chain like how would we do it?

1:16:49And I knew I’m blocked by Pranksy.

1:16:52My brother’s blocked by Pranksy. Everybody that did Balut is blocked.

1:16:56He hates us.

1:16:59I don’t know. I don’t know if he’s good for this. I think I mean, listen, I think I don’t know. I remember the last thing he did when he like rage quit NFTs. He had this like NFT collection that was like based off of Doodles or whatever. And I remember looking at him like these things are so massively overpriced. I’m like, he’s not going to sell these.

1:17:19And like when I saw he only sold like one or two of them.

1:17:22I’m like, yeah, like I don’t know.

1:17:23He just like misread the space.

1:17:25I really don’t know. I don’t I don’t spend that much time.

1:17:30Like I don’t I’ve never really I interacted a lot with him like when I first got into the space, but then I didn’t I didn’t want to continue doing business with him or interacting with him after a couple weeks or months and just like haven’t haven’t really spoken to him since.

1:17:46Yeah. I mean, look has made some insane trades for those who don’t know. I think he at one point he owned 5% of the board a supply was like 500 to 600 something like that.

1:18:01But notably he sold he sold them all at like one.

1:18:05Yeah, like I remember.

1:18:06Yeah, but that was like typical pranks because I remember when board apes were minting. I didn’t I didn’t buy any because I saw it after they minted out and I saw he was selling so much.

1:18:17I’m like, yeah, this is just like pranks.

1:18:19He just like, you know, he probably made like I don’t know.

1:18:23I don’t know what he was at that time, but he made a bunch of money on it, but he could have been made total generational wealth and fee held that.

1:18:32Yeah, probably like $20 on it or something.

1:18:35But like if one of those things like if he hadn’t sold would it be where where it went to and I don’t think it was that goes back to what I’m saying, right?

1:18:42Right. This is why controls often sometimes bad because you can’t get certain community members in which you know, guy was Terry would not have been able to biz dev or DPI Club to where it is King of NFTs, baby.

1:18:59I will say notably on board a vehicle.

1:19:01I did min I minted a trippy ape, which I sold for three.

1:19:04I fumbled about a million dollars there.

1:19:07I owe a lot of my crypto career to DC investor who we should get on the show. Actually, that would be a great guest to get on the show.

1:19:16I owe like 50% is is him the other 50% I owe to Justin Blau.

1:19:22The DJ and musician because he tweeted out that he had just minted some I think it was about like halfway through the mint and I was like wait these are these look cool and I minted for literally just because he tweeted and that that significantly changed my life having having those assets under management.

1:19:46Yeah, so shout out to Justin Blau who also makes great music if you are not listening to it.

1:19:52He’s a great dude. He’s a great woman. I says yeah, go check out what they’re doing over with music at Royal Supercool stuff music on chain.

1:20:01Will you ever see music on chain habits moment music NFTs, baby?

1:20:07That’s those I think those are my favorite tweets when people throw them out. For no reason is like NFT.

1:20:12The crazy thing though is I still think it will have its moment, right? Like I think on chain will have will play into every single crevice of the world.

1:20:22It just feels like it’s one of those industries that is so stuck in how it’s done and you have such a money machine that doesn’t want to be messed with that you’re fighting you’re fighting like four different battles just to make it make it happen plus consumer behavior has to change recipe for disaster until you know, we’re going to we’re going to maturity across the board.

1:20:48I I spoke to somebody recently.

1:20:51I forgot who it was. I was pitching me something like oh, we’re building something to fix like royalty payments or whatever.

1:20:56I’m like bro, like good luck. I’m like this thing is controlled by like a few people from the little I know like music is probably one of the hardest industries to tap into especially if you’re not like an insider because they make a lot of money off like predatory deals and stuff like that.

1:21:15And like this it they don’t like there’s no incentive for the people at the top to change the system.

1:21:22No, no, very hard. It was very I mean great example is look at AI adoption across the globe of every single industry.

1:21:30I would say music is the one that has like literally come out and been like no bad terrible get out of here.

1:21:36And we’ve probably only seen one or two like major viral. Okay, three of you the ghostwriter Drake song.

1:21:43There’s been like three viral songs in the last four years that have been AI that have gone truly truly like mainstream viral. Rubber bands.

1:21:53I would say is the number one that was debated even if it was or not.

1:21:59Yeah, they can’t even do AI. I don’t think we’re gonna see NFTs and tokenized music and on-chain royalties take off to an extent for some time, but who knows it could be the end of the cycle with with people being like hey, I want I want to speculate on music.

1:22:14Are you saying are you saying we should we should sell as soon as we see people as soon as we see Cooper talking about music NFTs again?

1:22:22Cooper is I’m not sure dude.

1:22:25No, I don’t know. He’s I know he’s out in Japan.

1:22:28Yeah, crushing it.

1:22:30I get a lot of FOMO when I when I see his stuff.

1:22:32It’s a got to go out there when Full Port does their show out in Japan will make a point to go see him live in Japan at a I think I think he said there’s a really great place to go called Circus or Cowboy.

1:22:48We’ll have to we’ll check it out one or out there.

1:22:52Gee anything else you want to go over here during the show?

1:22:57I say that’s a wrap.

1:22:59That’s a wrap. Well everybody. Thank you once again for tuning in to another episode of Full Port. We’ll be back on Thursday.

1:23:06Feel free to hit us with questions topics.

1:23:09Guests you’d like to see on the show.

1:23:12And yeah, appreciate the support.

1:23:14See you in two days. Cheers guys.