Good morning. Good morning, GMG Monday,
February 19th, 2024 444. Look at that.
Another beautiful day to have a beautiful day.
It's actually another wonderful day to have a wonderful day.
I wake up, I check price, good price.
No matter where I'm looking. I look outside, it's sunny.
I look at my schedule. I'm flying to Paris tonight.
Whoa, what a day. What a beautiful day to have.
A beautiful day today. The sun is shining in Montreal.
The sun is clearly shining in London.
Rare shining I'm. Just going to, just going to
close the windows a bit. There's a lot of sun in my face,
just sunny and stuff. And I go by coast in the house
as we can hear it. OSF Mando, how you guys doing
today? I'm doing amazing, man.
What a great weekend. What about you?
Phenomenal. Phenomenal.
It is. I guess it is.
Today. We are celebrating our
presidents. It's Presidents Day in America.
I'm a president now, So it is. It is by default my day as well.
Mando is bringing this. There you go.
Hold on.
Stevie wanders back. Stevie wanders back.
Let's go. We are.
So that was a good yo. That was actually pretty good.
I'm going to need to catch that one.
OK Did the screenshots of manual on this show just get better
every day? Like, I got to say, like, they
just get better and better every single day.
The emotes we got going on in the group chat are so funny.
I love that OV. How you doing this morning?
Yeah, I'm doing well. Thanks.
Yeah, busy week. It's a busy week.
I'm just trying to do as much as I can in the.
Next. Three days before Paris?
Yeah. Because I know I'll get zero
work done in Paris, so. I mean it's just different kind
of work, right. It's like it is, you know some,
it is somewhat where you guys are launching their drinks this
week. You know it's still work.
Yeah. You know it's still work it's
we're going to let's, let's, I mean let's talk about that this
is going for a second here because that's how man don't
make a pause as well you put it out there.
I mean, what are this fully ready to go, Yeah.
Yeah. So yeah, all the drinks are
manufactured here, have on, have on right here.
Let's go. See, there's a little little red
guy in every drink. What's the name of the flavor?
Liquidated lime. So it does OK because this
weekend I thought I was so smart.
I texted you guys and I was like, yo guys, your next flavor
should be called liquidate me or something like that.
And then someone said, bro, like, that's literally the name
of the flavor. And I was like, oh, and I
deleted my message, so you may have not seen it.
I thought I was so smart. I was like, dude, honestly, I
thought I was so smart. You know those moments, like, Oh
my God, I'm a genius texting you guys.
Like, guys, guys call the next thing, liquidate me.
Oh. Yeah, it's a funny one.
Like, because of all the compliance and labeling issues,
you have to if you call or drink something weird, you have to,
like, watch out for it. But liquidated obviously has a
double meaning. It's just like could be a liquid
version of lime. It's not.
That's not offensive. Or I could just be getting
liquidated, so. Let me tell you, I can't wait to
Spike, right? I haven't.
I haven't had. I had one of the samples, but I
haven't had one recently. What's the taste I got myself?
It's it's really good. I'm a I'm definitely a a
flavoured sparkling water connoisseur.
I I it's something I drink a lot and.
Yo, the next one has got to be Mango.
I love to do a mango. One, you got to do a mango one
and call your mom. We've got to do mango.
How do we not do mango to start actually?
Well, I think you want a We wanted to do a flavour that was
a bit more, yeah. That's.
True for a whiter audience than just.
There is a white claw, there is a white claws in the 12 pack is
mango and it's not that bad. And I'm not a mango guy.
But you know, it's good, yeah. Maybe mango something.
I don't know. Mango, I don't know.
Mango, Lorian. I don't know.
Anyways, yeah. Massive mangoes.
Massive. OK, I don't know what the vibe I
get from oh, Margin Called Mango.
Margin called mango. Yeah, I like that.
And there's needs to be a ruggy Raspberry.
That's. Not that's not ruggy.
Raspberry is actually very good. I like that.
So let me take a screenshot of these two, because that's Hefner
and BLA. So hold on, let me take a
screenshot of There you go, Let me send them in the in the chat
for us 3. People you know, these come help
us with whatever you can. Hey, if you own a guy at the
time of the Snapshot uvidity are going to get a piece of equity
from the from from red guy. Red brands, right.
From red brands.
Yeah exactly so so that's that's pretty cool.
I love to see that. I love to see.
I'm starting to like the little narratives, the little movies
the next looking at the yellow sky.
But it kills me dude. It's so funny but like you love
to see that and and and it's a lot of fun.
I can't wait. They're going to be the drinks
pairs, right? Like there's going to be a bunch
of them to try. Yeah.
So we're we're doing three things.
Of the bars you. Do that comment, Shout out to
the Five NC crew. Who's that Who?
Who write that? Jason, Jason Law.
That's how we used to work. So yeah, that's.
Five NT. God, you got to been there.
You got to been there, man. 5 N colonnade. 5 N Colonnade.
That's where we used to work. I see.
OK. Well, I guess it's one of your
old like work partners. Jason Law shout out shout out
Jason. Shout out, Jason, Shout out to
five NC crew gang Gang. So you were saying OV.
I mean, while we're on the topic of Paris.
Like what? What do you guys look going on
in Paris? Right.
So Thursday night we have the Rex Drinks launch party.
If you're an erect Guy Tabs or any OSF art you can claim a
ticket on Token Proof. Just look at my tweets or look
at the Rex Drinks tweets Friday day we are going to be the
sponsor for Web Three FC. So there's a five side football
tournament organized with the Web Three FC guys.
So we're going to be playing in that.
We have a team for that and we're going to have a bunch of
rec drinks over there as well. And then during the entire NFT
Paris event itself, we are collaborating with the one only
rug radio guys and we have a little wrecked drinks bar area
alongside all the stuff you guys have cooking up there.
So do you wanna try the drinks launch party on Thursday, come
to NFT Paris during the day, or come to the Web Three FC thing
on Friday as well? We'll have a bunch of drinks for
people to try. Brother, marketing of this has
been so good. You know, I'm a big brand guy.
I like this one. I like this a.
Lot. Got a brand team on this one.
Got a brand team on. This one.
But AI is working, bro. I love that.
I'm scared. I'm playing.
That was exciting.
This is exciting to see. I love that.
So you're going to be able to see the lads a lot this week if
you are coming to Paris. And Speaking of Paris, I guess
I'll just run down our own shit as well since we're doing a
bunch of stuff together. We have Thursday.
So the our house, we're bringing it back.
Our house. Paris out.
The outpost. Big shot, the outpost for
letting out US use their premises which is fire some
pretty crazy panels going on a lot of great people coming on a
lot of friends etcetera etcetera etcetera.
And of course shout out to the partners begins to happen and
what's going to be fun for everyone.
It's honestly that the conference like we're we're all
there together so we're sharing booths.
There's going to be the there's a custom made wreck drinks bar
which I haven't seen the physical yet but I've been part
of the whole like I've been showing you guys like the booth
creation thing. It's looking good.
So you're going to be able to
get your red drinks at the booth and you know on our end we have
a podcast studio that we're building at the booth.
So like you'll be able to see myself, the boys thread guy,
fucking Mika like everybody out there hosting Costa pumping
pineapple is not bad. I'm not going to lie ruggy
Raspberry pumping pineapple. Pumping pineapple's good.
Margin call margin call, mango ruggy Raspberry pumping
pineapple dude that that. Should we just have Mando Mango?
Or just Mandos mangoes? Mandos mangoes.
Oh, mandos mangoes. That's a that's a different
product. Mandos mangoes, bro, doesn't
you? Anyways, Mandos mangoes, back to
our stuff. So we'll be together at the
conference. You'll be able to get some cool
stuff. And on 24th we have another
event. So we, you know, we pretty much
took over a casino in the spirit of the space.
So we're doing an event inside of a casino.
It's pretty fun, right? That's going to be, yeah.
That's going to be on the shows then these.
So I I I can't wait for that. So it'll be fun.
So rug radio, the crib Rick guy is going to be everywhere in
Paris. Literally everywhere.
Like you guys have. It's true, you guys have the
football and everything, so. Definitely a recall on Mando's
mango. You know, drinking Mando's
mangoes. No, it's not Mando's mango.
It's Mando mangoes. Wait, Mangoes Mando's?
Mangoes, mangoes, mangoes. I'm not sure.
I always feel the man. The man you don't.
Want to drink them? I pause.
OK, today on the show. Today.
What are we What's on the show
today? Tim.
Yeah, I'm kidding. I'm kidding, Tim.
I got logged out of my rogue video e-mail.
I can't even look at the phone wire sheet.
Oh, no. Oh no, no.
It's. Not it's security like
everything. This one, let's start with the
obvious one, which is Yuga. Yuga.
Yeah, you're right. Yuga.
Oh, dude, I forgot. You know what?
I got reminded that Yuga bought Moonbirds 5 minutes before the
show. And because I.
Because we talked about it so much this weekend that I'm
already over it, but we're going to talk about that.
We're going to talk. You know, the captain, they they
they hooked it. They they they secured it.
You know, they started the convoy, they hosted 6 hours.
They shut it down and then there was the fucking town hall and it
cooked. Shout out to Captain and and
Steve for that. But anyways, we're going to spot
it. So ETH is pumping.
Love to see that. So ETH, Bitcoin, all of it.
You look good price, good price. Everything's up or 2900 this
morning. Absolutely love to see that WLD
World coin, world coin that went, that went crazy.
So I don't know what's happened there.
So market cap, we'll go market recap, we'll talk about this
quickly. We're going to glance over NF,
TS, Bitcoin. Ethan, Solana.
And then last but not least, of course not last, but have you
labs acquiring proof ecosystem, some thoughts here from Mendo
and Ovi and maybe myself, but I don't.
I feel like I share my thoughts already, but we'll be talking
about it and. Sims Just Gaming and Altcoins
Just Gaming Gaming Gaming I. Know you know Sims is trying to
Sims is like Sims has too much power bro.
He keeps adding his coins in the topics here thinking we won't
catch up on that he he he loves it when you talk about zai.
Last but not least Agoria Agoria is going to be joining us.
Can't wait to see Agoria and France but you know to talk
about what he's got going on with the music Dorset which Elan
one of the Co founders of the Crip was telling me that he went
and saw it yesterday and apparently it's it's really sick
what they've got going on over there in France.
So there's something else happening in Paris this week.
So anyways as usual so we're we're we're we have to say we're
giving money away so we're giving away 250 bucks today.
So bottom right purple box shot the real bed as usual for for
supplying the money that we're giving to y'all and you know
we're just retweet the space and if you're in here at the end of
it we'll get you can win 250 bucks.
And if you're not here then not only do you miss out on the
amazing content but you miss out 250 bucks.
Let's go. Let's get this party started and
let me see who am I going to go to 1st here for the market
report. Which one of you is feeling more
feeling more chatty about the market this morning?
I mean, I can. I can do it.
I've been doing the the Minutes every single day for going on
who is the man? Never heard of those.
So yeah, GM everyone, it was, it was a good weekend.
If you're listening to show, I think we both said on Friday
that that the market was probably going to head lower
just because you know the weekdays is where the ETF is
buying and there was going to be no ETF buying for a few days.
The market really did get a little bit scary there for a
minute. On Saturday everyone started
freaking out over ETH moving, what was it, 3%?
It went down to 2700 area. I think Bitcoin went to just
above 50K and Solana went down to about 106105 area.
And then everyone remembered the ETF is going to be buying
another 2 1/2 billion this week. So yeah, that happened.
That realisation happened late on Saturday or later on
Saturday. Obviously today is a is actually
a close for U.S. markets. It is President's Day, not a
close rock radio. It is a close for global
markets. And you saw maybe, maybe it
could be a little. We bounced back a lot.
So ETH went all the way back up to 2900.
Plus it's hanging out around that area now.
Bitcoin. Bitcoin went up to 52, K, slides
up at 1:14, one 15 area funding has gone quite a lot higher
during this period. We're compared to the start of
the month. It used to cost about between
let's say around 10% per year to fund a Bitcoin long.
It's now around 20%. It's the same for ETH Solana.
So it's been about A2 to 3X increase in funding since the
start of the month. So funding is definitely
increased. It's not at absolutely crazy
levels, but it's definitely increased.
Part of that I think is also that it goes tends to go up on a
on a weekend anyway because the the the amount of spot buying it
happens on the weekend from the ETFs obviously isn't there.
But we're definitely at a more precarious point here in terms
of funding. And you've had various people
point to the idea we're probably gonna have to have a bit of a a
slow down here, a dip just because of of how funding has
gone. But to me it's not crazy.
The best way to look at this is the funding rate heat map which
is just above. Yeah, we'll click on that.
You get, you'll get a general sense like it's looking a little
bit more yellow. It's not looking horrific.
If you if you expand that to like you know a longer time
period you get to see. But I still think we've got legs
in this before, a full on funding reset.
ETH has obviously been leading the charge.
It's really been ETH outperforming everything except
AI and gaming. AI and gaming, I mean, it is
some of this stuff is just going absolutely nuts.
So Sora, obviously. And gaming.
And gaming, I'm I'm about, you know, I'm about to pivot to AI
here and gaming as well. It does feel like Ryan Carson
should have stayed in in in crypto but still into crypto AI
rather than gone full AI. But you've seen the the biggest
leader here is is Tau betenza. But you've then you've had a
bunch of other smaller coins which have been FET.
FET is a Oracle related to AI agents that's gone up to around
$1 billion market cap. All of these coins are like 7
day. I think the total size of that
sector is about 15 billion now. Yeah, you can see which is up
about 10% today, right, like that that used to be less than
five 5 billion. It is is increasing and every
kind of chilly low cap with anything to do with AI is also
just absolutely sending right now.
So it really does feel a bit frothy in that section sector.
I would say it's a little bit difficult to work out what's
going on. Similarly in the gaming sector
also up about 10%. A lot of new coins are
launching. So we've had some huge launches
over the last few weeks that obviously started with zai.
But then you since that you've had MAVIA, you've had today you
had the pixel launch token on Ronin blockchain, that's at 2
1/2 billion. You saw awful trading at in pre
market traded up at 1 billion. Who knows where that ends like
gaming and AI, if you can catch this sector right now it's
they're really moving. Beam Beam's another one that's
done about a three 4X since we were speaking about it on the
show. At the highs all, all around, I
think zai actually is asking for another 200 to $400 million from
the Arbitrim Foundation to help build out gaming.
Yeah, well, they're asking for more money to help build out
gaming on Arbitrim. They've asked the AARP
Foundation. Yeah.
Wait, Sobi. I don't know if it's him.
I think they're looking to invest with that money.
It's not. It's not a.
It's not like a heap. Sobi's asking for $200 million?
In the minutes, man. What do you mean?
They're asking for more money, basically to help build out ARP
gaming. Obviously ARP originally had
gaming in in the Magic ecosystem but since then Zaid's kind of
taken over as the biggest coin but they're asking to help build
it out more and the our foundation is you know they're
in the fucking money. They've got a ton of money.
So the idea of building it out seems like an obvious one.
So you've had a bunch of those tokens start to move today you
have the stock stock net AirDrop that's also been put in there,
stock net is trading at $18 billion fully diluted market cap
pre pre launch. So all that FUD, no one seems to
really care. That'll be launching today.
So that will be the biggest AirDrop of all time at 18
billion. Let's see how that trades after
it launches. And then finally, World Coin.
World Coin is worth more than Solana.
Yeah, so can. You tell me what's going on
there. I haven't followed at all.
World Coin has got a fully diluted market cap of $75
billion right now. If you go on to Coin Market Cap
or Coin Gecko, you could see that's showing on.
Top That's so funny. Yeah, so Worldcoin obviously is
is Co founded by Sam Altman. We were highly critical of the
way it launched. It's obviously like a retina
scanning identity blockchain. It's meant to be about like
creating a digital identity which is probably yours and ever
since. Firstly, it pumped when Altman
got back into the Open AIC. There's a lot of things going on
in AI right now, but Open AI is about to do about an $80 billion
funding round, and it just released Saura, and people are
just assuming that this thing is going to just be huge.
But yeah, well Coin only has a $1 billion current market cap
roughly, but it has $70 billion fully of $75 billion fully
diluted market cap. So and obviously all this supply
is going to be coming over the coming years.
But it is pretty crazy to see that like it's, it is literally
the full, I mean the third biggest by the way is tether.
So really you're talking about the third biggest crypto in the
world, in world point in terms of fully diluted market cap
there? Dude, that's.
So Wild, it's that's it's moved up about 150%.
It was already high, it's moved up about 150% in the last week.
So it's been a big, big move in in that.
So quite a lot going on and obviously that's kind of related
to the whole AI move as well. So it's AI and and and and
gaming. Those are the two that are just
are just, yeah, getting absolutely sent.
Man, that is so crazy, This world coin stuff.
I saw that too. So an article, I think.
The crypt posted about it and I was like what?
And I was I was I was going to come here and ask you about what
the Hell's going on there. There it is.
Where Coin Token searched 40% following the since the launch
of oil of which is really really wild.
It's it's insane to see. It's insane to also think that
just like a couple months ago they like, fired the whole Sam
Altman thing. It's like recent.
It's not that old, right? When was it?
December was it? I forgot when it was.
But November? Like it wasn't that long ago.
The whole Sam Altman thing. I have to say something real
quick though. This is this is what happens
when when your company gets acquired by Yuga Labs.
You wear your hat, dude. I've been wearing my hat on the
side forever. This is proof yuga all.
Right me down in the bird. Let's go.
I have to say, the whole time, like Mando was trying to deliver
like a very serious, like, market report, I couldn't stop
but laughing. And it was not because of what
Mello was saying. I was laughing because I was
looking at Sam 9059 on the stream with his hat sideways.
Nothing was hilarious. I was like, yeah, before, before
announcing, you no longer work a poof.
After now, like a work poof. Obviously it's all jokes and
it's in good faith, but I just thought that the hat was funny.
What's up, Sam? Good morning.
How you what? Up homie, dude, it's crazy.
Amanda. You just, like, ripped.
Like these numbers are just insane.
You know it's I I gave this example on Tyler's podcast the
other day. You know during the, everyone
always talks about how it compares like sometimes compares
crypto to like the Internet bubble.
And it was like, yeah, you got like pets.com and then you had
stuff like Amazon that made it. You know, pets.com maxed out
maximum market cap pets pets.com ever got to was $400 million.
That was the absolute pico top like we have shit that like is
worth less than than pest.com hitting $500 million.
Like every time you wake up in the morning.
Like the amount, the velocity of money and just the the speed
with which people assign just absolutely mass evaluations in
this space. It's it's insane.
It like there's nothing else like it.
There's probably never been anything else like it.
It is absolutely bananas. I am.
I used to trade PetSmart, which I think owns pets.com, no?
Petsmart's a real company, man. Come.
On PetSmart own pets dot no. We used to take the valuations
of of of pets.com and apply it to PetSmart.
But yeah, it was pretty. It was like the PetSmart bombs
were like insane. They would just go to like
crazy, crazy levels because everyone.
'S like Well, PetSmart and Petco are like actual big box
retailers like Best Buy. Just.
For dogs, you know. Like it's it's just like it's
very different from pets.com too.
Yeah, I guess they have the same 4 letters that start them.
Yeah, that's what we need, man. I mean, let's start.
Let's start a meme coin here, man.
We'll all get ready. I saw someone pumping zai on the
timeline just because it has AI in the name.
Yeah. It was like I I Lily, I I'm
about to stop. That's where we are.
What? I'm going to do is I'm going to
I'm going to make a typo in media and it's going to be me
the AIMEAI Greens you know and and So what I'm going to do is
is we've decided with Loxy this morning shout out to shout out
to fearful for the incredible idea here is saying why don't
you just instead of calling your company you know media company
it's a media company you know it's a little typo when you type
it doesn't sound good on writing but in writing it's fine a
little typo get. The people going.
You know, you know, again, again, no one knows what it is.
It's provocative. Speaking of old jobs, Speaking
of five, NCI, mean OV what is happening in the world of the
markets? Are we are we still ripping or
what? Like, is America still?
Like, is America still, Oh wait, never mind.
U.S. markets are closed today, but yeah, I mean next week, this
week is going to be another big week for BTF flows like I saw.
I don't know if I wasn't in all honestly, I wasn't listening to
Michael's source. So sorry if he said this, but
there was a stat that 50% of net inflows into Blackrock's ETFs
have been just from the Bitcoin ETF, just from IBIT and that's
that's a 471 different ETFs that they have.
That's madness, that's mental 50%.
Blackrock's like one of the biggest ETF issues in the world
across the entire global financial markets.
And just think about how big that market is versus crypto.
Whereas the total market cap is like, you know, under the size
of Amazon or wherever or similarly, I don't know we're
higher now about 50% of their flows, ETF flows are from not
even the total crypto market cap, just Bitcoin alone which
is. Just they're going to get paid
for it, right? And.
They're getting paid for. It fees like all the other ones
that they don't get fees on. It's a big one.
Yeah, this week is quiet for macro.
I was going to say the only big thing is NVIDIA.
Nvidia's got its earnings on Wednesday, and so all of this AI
narrative, I mean, traditionally NVIDIA absolutely smashes
earnings every single time. I don't think that will be
different, but it's really just how much they beat earnings and
also maybe everyone's just so pulled up into it anyway that
like maybe we sell off just because it's a sell the room,
sell the sell the event sort of a thing.
But yeah that they're head like they're they're only draw on
Wednesday. That's almost like an FOMC for
this sort of market. Like it's going to be big
whatever happens there. Yeah.
Well looking forward to that for sure.
So we'll see what happens. I'm still I I can't believe.
I still can't believe Sobi asked for $20 million more from
Arbitrum. I'm Loxley.
Are you listening? He asked for 400.
That's what I That's what I saw. I'm sorry, I'm just 'cause I
finally got access to my e-mail and I'm looking at all the
topics today and it's really in there.
And it was there. You started 400 million, yeah,
200 is a 50% discount, yeah. I mean, I guess I think I'm
going to put in a a proposal there.
I only need like 100 mil, so you can give me 50.
Mando you muted? I don't know what happened, just
muted you. I'll put into the the private
chat. Look here, they tweet it out.
You you can't oh so you can't spell rug radio without AI.
So you know and same for media. So I I think that on the those
premises are enough for me to to to to to ask for for a little
more here. I think.
I think we have grounds here. I think we have Shazar.
Shazar was just on with with that team again on Friday.
I put. Out the zai.
I put it in the private chat on the on the gmails.
Yes. Now I saw, I saw the tweet, they
don't know where we've been working on arbitrary.
Let's go there. That's crazy.
Zai buys. Let me answer.
I just like seeing zai buys everyone obviously.
Anyways, zai buys are in control, that's for sure.
Anyway, So I'd love to see that on on the rest of us.
I mean look, market report is good.
Let me see. We're going to talk about more
of these gaming coins for sure, 'cause this is like just going
crazy right now. But the big news, I'm going to
go to that now because I have I have Sam here anyways, so may as
well we had. I forgot that happened Sam on
Friday. So on Friday we got some news
that Yoga Labs acquired Proof, which means that they've
acquired, like everything comes with it, including Punk 9059.
I heard he was a cherry on top and then so basically that came
out on Friday. Yuga Labs has acquired Proof
XYZ, which includes Proof Collective, Moonbirds, Mythics,
Oddities and Girls exhibition series For more information,
yadda yadda. So that came out and obviously
took X and every single platform by storm.
Every single, you know Twitter Spaces host that didn't have
anything to do on Friday was on Twitter Space talking about it,
that's for sure including myself.
I did join a couple spaces it was fun, some good combo and
then on Saturday morning shout out to the coffee with captain
crew. I got to give him some flowers
there but they really locked. They really shut it down on
Saturday hosting I think A5 or 6 hour long Twitter spaces about
the topic which was then followed at 8:00 PM Eastern
Standard Time Saturday night by like impromptu like sort of town
hall that was announced and where, you know, I believe the
CEO Daniel Allegra shot Daniel great man, love him and it seems
like Garga was on there shot the cargo as well and the yoga team,
Jeff Nicholas and everything was on there to discuss.
You know what happens with that. I guess first reactions here
because Mando OV I didn't really get your reactions and then Sam
obviously like you know, obviously playing around here
but curious to hear your thoughts here as much as you can
share. But I'll go to OV first here.
OV what were your first thoughts when when you found out about
about the news? Yeah, my initial reaction was
like my initial initial reaction was probably the same as
everyone else's. It was like, what the fuck?
Like why would they do this after I thought about it some
more, it's not the craziest thing in the world.
I mean look like Ugolabs and Proof had the same one of the
same largest investors A16Z. So I'm sure they have an
interest to compile their investments.
It sounded like it was a stock for stock deal, so there wasn't
any cash that was actually spent by ugolabs and obviously Proof
has a treasury which ugolabs now has access to or now it's part
of you know this acquisition if you like it.
I feel like it's that's an acquisition, maybe more of a
merger, but yeah, you have those things as well.
So you know when when Yugalabs bought crypto punks back in
2022, the entire time moment was like, Oh my God, this is the
most amazing thing ever. But you know, they bought crypto
punks probably at a very high valuation, pretty much at the
top of the NFT market. And now they've purchased Proof
two years later in 2024, not at the bottom of the NFT market,
but probably at the bottom for those two projects, probably
two. Yeah, for proof.
And they didn't pay anything for it, basically.
They didn't pay any cash for it. And the whole time I was like,
Oh my God, this is a disaster. And if you look at those two
different acquisitions side by side, I think the, you know,
what they got for their money is probably much better value for
proof than it is for than it was for crypto parks.
Now I understand if you're a board ape holder and you've been
frustrated with that, there's been a lack of focus on that and
now you have another whole ecosystem that's added to the
yoga empire, you may feel like, oh, like I'm, you know, I feel
like there's going to be even less focus.
But remember, they've like acquired the whole team and
staff as well. So it's not like, you know,
you're going to have yoga people now work.
I mean, I'm sure there'll be some synergies, but you still
have an existing proof team that's there, a moon bed team
that's there who's going to be carrying on their, their daily
business. But you just have a different
owner for it now and you probably have a lot more
synergies. So All in all, I actually think
it's a good acquisition. I think it's good for.
It's obviously, I think very good for moon birds.
I think it would be good for Yuga ecosystem holders because
stuff is already down quite a lot.
And yes, maybe it could be a little bit more, but I think you
just have this massive like NFT Empire now, which is all part of
the same thing and I think that can be powerful.
Maybe we're not seeing exactly how quite yet, but I think this
will go down as one of their smartest moves, in my opinion.
Interesting. I mean, now they Yuga can say
they actually do own the collector's PFP.
The real one part of the part of the roster here Mandal What what
are your first your first thoughts here on on this I I.
Didn't think it was. I thought it led to a very big
reaction which something that I didn't think was that huge a
deal for me. I think I don't know the details
of the transaction, but A16Z is obviously is at the is the lead
investors both. Yeah, exactly.
And the way that these deals are done is that a 16Z as with a lot
of deals you become preferred. So like you essentially become
the premier equity holder in that scenario.
And I can imagine that put them in a lot of power in both those
scenarios and maybe this made a lot of sense.
It's not, it's not uncommon for that sort of stuff to happen.
And I do think that the the the team that you guys put together
in terms of the vision that they have now have and the experience
they have with some of the the top execs like they probably
could do a lot with with that treasury as well.
So I think they they're definitely going to definitely
opens up some possibilities. I think the the obvious thing
was like wow like the board apes are down whatever it is 80% now
in in each price since since that top and obviously that
doesn't include all the air drops and stuff but people are
like well like how we're not focusing focusing on the.
Board. Our efforts on that, but in some
ways I think that that's not really you're like you're not
really understanding how how that transaction has really
worked. Maybe it does actually bring
allow them to have more focus back on the board apes with the
with the the capital that they have, they're obviously also
launching this new marketplace and if they can bring back you
know trading fees I think it could it changes the business
again for them. So the idea that they could have
a new IP and particularly go new new places with it I think could
be interesting. But I can understand why I just
kind of rub people up the wrong way like it's not exactly been
always actually been a great period for either of either of
those two firms in terms of like public opinion.
So for one to try and to to acquire the other one if you
didn't understand the economics maybe behind it maybe just feels
like a just seems like a strange move but yeah I I I get it and I
actually think it could it can help I I think in my eyes it
probably helps it does help moon birds but it also does help the
world apes just with the with the treasury and the ability
they can actually create a sustaining company going forward
with the with the IP they have. Yeah, I mean look you're right,
We don't have details, but what we know is what Cargo wrote on
the timeline which is a stock deal that was the information at
hand that was that was given to us, Sam.
I mean of course I was playing around earlier.
I read your thread so you know both.
I know like I saw that you you were no longer approved here,
but I don't know if you wanted to maybe like comment on that.
Obviously we don't have to squeeze details out of here for
that, but how did you, how did you, how did you find out, Like
how did you feel about the whole thing and.
I mean I decided like six weeks ago that it was time to leave
proof. So I got I kind of already made
that decision and when Hugo was like a possibility that's it
just isn't kind of what I'm personally looking for right now
in my career. So yeah.
So I I had already kind of long. Yeah.
I knew and I think everyone knew that that you know that there
was talk about about the business being sold or something
like that and this the last thing I wanted to do was to like
leave the company create a FUD cycle make me think, you know
that proof was always very, very good to me and I appreciated
them a lot. I appreciate Kevin a lot and and
you know I so, so this this just kind of worked out perfectly
where it was like the announcement was made like
joining Yuga for me and my career didn't make sense for
where I'm at right now. And it was just like a great
time to be like, OK time for me to to try something different.
So that's where I kind of landed.
I think like as far as the conversation goes like I learned
about I learned about most of this the same way everyone else
did. Like, I heard about it the day
before because part of what I told them was like, hey guys,
it's like, I want to, you know, I want to, I want to be able to
get my comms lined up with the company.
And they agreed to that because, you know, we, we had a good
relationship. When I heard about it, I had to
sign a document that they stopped, the call to sign a
document that said I would be criminally liable if me or
anybody who I spoke with traded on this news.
They would actually, like, hung up the phone, go sign this
DocuSign and then we'll talk again.
So people who think they don't take this seriously are wrong,
like take it exceptionally seriously.
That doesn't mean a couple. People Yuga like working with
them. We we have had to sign ND as and
they're yeah, they wouldn't. Even talk to me and I had to
like sign, write down. I'm criminally liable if me or
anybody I speak to trades on this news like it was you were
not, you were not going out and buying anything after having
that phone call. So.
Not with those attorneys. They're pretty good.
Yeah. I mean the question is like are
you know, kind of to the point earlier, are they actually going
to go after people, you know, because I don't think law
enforcement cares about pixelated owls, but maybe Yuga
would. But I it doesn't sound like they
will. But my view is, look, I think
like you have shareholders and you have NFT holders and they're
very different and they're very different objectives.
And I I think this idea, yeah, like you could just got a very
big balance sheet. They just got a lot of eats in
exchange for, you know, they they.
And I think people were saying like, yeah, it feels like like
it's a fundraising round of sorts.
I think that there's a lot of truth to that.
Like I can see why. So when people talk about
dilution, I don't think it's financial dilution.
I think it's attention dilution they are worried about.
I don't, I think people are saying look like Mebits haven't
really benefited or had anything to do with board apes in any way
shape or form. Why would this be different?
And the onus is on yoga right now to prove to people it'll be
different. So you know it is one thing
though that I I've learned in this game is that when you have,
when you have VCs, when you have shareholders, there's just there
are a couple different kind of work flows going on at the same
time. And you know I think NFT holders
need to stand up for themselves and you know, because otherwise
shareholders take priority. I don't think that, I don't
think this example was that. I don't think this, I think this
example makes sense for all sides.
But I also think we have seen with me bits that like me bits
and Fortex kind of have nothing to do with each other.
So it is on yoga right now to show that they can make this
result look different. Yeah, there's a lot of assets
now right in that ecosystem. When it comes to to tokens I'm
not sure the amount but I saw I think was easy and obviously a
bunch of people went and made lists of of all the assets under
now the the the Yuga labs umbrella.
So so that came out and then it seems like during the town hall
yesterday that took place sorry Saturday evening in the in the
swamp, the the Discord, the Yuga board, APL club the account then
posted this which was it says IRL.
So seems like this IRL clubhouse is actually really happening at
this stage. Like there was rumors already.
They kind of hinted at it already.
So it's not like the news, but like now it's like means as
direct as you can get here in my opinion.
This lady says IRL while they're building out stuff, look.
I mean, that should have been done years ago, in my opinion.
Like, literally, I cannot believe that that's taken that
long. Like if I.
Carried a little bit right with the other side stuff.
But that's just, that's why, just like I remember when board
Apes first came about, first came about, that's what everyone
was kind of bullish on. I mean, they were bullish on
Mutants. But then it was like, right,
we're going to get a fucking clubhouse in Miami.
Like this is going to be fucking epic.
And then people were imagining kind of the Soho House or like
the, you know, the global clubhouse model, which actually
felt like it could work. Like if you told me that there
was one in Lisbon, there's one in Dubai, there's one in Miami,
there's one in Singapore, there's one in LA, There's one
in like all the crypto places around the world.
I think that's a business model. Yeah, I think that's that's
that's actually a business model which could make a lot of money
and they can do all the other side, other side of stuff, I
think. I think they did it the wrong
way around in my opinion. Yeah.
I mean, look, I I I don't want to assume, but I'm assuming that
I don't want to say, I don't want to say this is how it is.
But I am personally assuming that Gordon Levin and a few
other things and the focus on the other side, probably some
focuses at the company were on different things.
It seems like even Gordon at some point when he wrote a tweet
not long ago. But like it was a long form
tweet saying how like he's been having a lot of meetings and
like about the direction shift next to the company and how he
pretty much laid it out on the board and or whatever you got
like how he wants to see it. It was not long ago it was like
December when he was like going a spree of buying a bunch of
shit. Like I remember Gordon saying
something like that. So I think I think it's going to
be interesting to see where the direction they take what I, what
I have to say like and I I put a a tweet out you know this
weekend I, I I put I still have my 8 right.
And it's funny not once that I think like oh hey like maybe
this should go if anything like I sold my old mutant or like
some deeds like few months ago. But I I'm still very much
bullish on like I think what BAYC as a brand and its holders
can, can, can can do like when you think of I think honing in
on the Clubhouse. Made by apes are going to be one
of the best things to happen to the board apes right because
it's allow us to build on the IP and they do a lot of stuff like
when we did our event with Eucalabs in Korea the Eucalabs
team was telling my team like yo make sure there's space for the
made by apes Korean like people to go and show what they're
building right. It was like stuff like that same
thing we did an event with them actually a year ago this week in
Paris. The Rasputin is always like
really about like making sure that like the the ecosystem
holders and the board apes are like always prioritized.
And this is something that I can, I can say happens behind
the scenes because we do talk to you a lot, right.
So it's like it's something that I see as someone who's
professionally done work with them.
So I'm not. I'm not really worried.
How hype would you be that they did they?
No, they opened up a fucking. He's a whore.
I would as a holder. As a holder, I would go.
I would 100% go. You want one thing to fix the
vibes of broad apes. It's stop start building in my
life clubhouses. Tell me like it fixes it almost
instantly. If I can go to in the world and
I can go to it. One tweet.
One tweet that says IRL with a fucking graphic.
What is your name with the patch Natural?
Fucking thing you. Mean with the patch where you
pass something on the leaky thing and then it's like that
meme. Like, you know, it's it.
Would change the whole dynamic of people feeling like they're
they're being forgotten about if they if you if you started
doing, if you started doing IRL clubhouses in different
countries, yeah. Look, we're not going to get
more details of stuff. There was some really good
Twitter spaces hosted by some really good people over the
weekend that really care. My two cents that I my take that
really got from this by Adobe because I listened late night.
I was just like fucking around Friday night on these spaces
with them like I was having fun and like it was just really or
Thursday. I forgot when it was it was
Friday night but just some of the board apes wanted to be
heard more and thought that the direction was going towards less
of a board ape centric and more towards this.
The club was like oh there's too many assets and it seems like
they've they fixed that yet. Well not fix that but you know
discussed all that yesterday so that's that's what I saw.
You know we've been we've been part of the club for a minute
you know. So I'm.
I'm not too too worried about their ability to to build
something interesting here and we'll see what's going to
happen. Anyways in other news and I'm
going to go to Agoria in a second because I see Agoria join
us on spaces. You should join us on video.
Be even more fun if you want. I'll send you the link in the
meantime if you want. But but what else do we have
here that you had tied in? I mean I think I think it was
really just like, oh, we talked about it, right?
It's all the gaming coins. Fuck.
I keep saying I keep pushing the gaming conversations further,
man. We I need a night I think one of
these shows these weeks I'm going to make a proper just 60
minutes only on gaming that way for the people I think will be
interesting. But a lot of those are just
going crazy. But you kind of alluded to that
earlier. So I think we can go to agoria
here. Agoria, agoria, how are?
You nice to be with all of you. Not too bad.
I'm. I'm super excited to see most of
you in Paris this week. I got.
I see. I see you're doing some some
crazy stuff here, like this is a musee d'orsay.
This is crazy. Yeah, we actually opened the
exhibition like last week and last last Tuesday and it's
incredible because you know Arthur Museum for me is one of
the favourite museum ever. The architecture is fantastic
and of course the piece then they are showcasing from
Bangkok, Monet and all the impressionist and new
impressionist is incredible. So well, I feel very lucky that
they contacted me a year ago to to have a vision about what they
what they display in the museum and to to give my touch to it
and and to think about an idea to actually showcase it.
So I hope like when you will visit this week, you'll be happy
and we do actually a conference on Thursday where you all
invited and on on Friday day is a party in the nave of the
museum. But the exhibition is is open of
course every day of the week and if you come here we you will
enjoy a free live meeting. So I think it's it's worth to
come just because it's not just a click on your phone and and
free live meeting it's it's actually a process and I think
the installation is is worth it. So hopefully you guys will come
to try it. That is, that is that is really,
really cool. I was talking to Elan this
morning and he said that he went to see the the exhibit actually
at the at the Musee Doors. And one thing that he told me
that was really special is like you have, you know, the Corbett
and you have Rodin and then you have agoria right there, you
know, at the music offset, which mind you is one of the most
important museums in the world. I go ahead.
How does this feel, man, as an artist, how do you feel about
all this? It's mostly crazy.
I mean, of course I'm very humbled to be to be here.
Like it's it's not like fake modesty, it's it's real.
Obviously I spent many nights in the museum to prepare this and I
have to say like when you you're in this museum empty and and
you're surrounded by all these masterpieces, you can actually
feel the spirit of this art. And So what you you will
experience is you will come to to to to the room of of Sigma
Lumina and you will see a light actually moving around the
sculpture. And the shadow of the sculpture
will draw a QA card on the floor.
And when you will see the QA card, you can scan it with your
phone. And once you scan it, you will
be asked to blow in your form, to breathe into your form.
And while you will breathe in your form then a piece will be
drawn by us by a brace and you might be surprised to see what
you're going to see. So it's not just showcasing my
heart or showcasing like what I've done in the past.
It's actually an experience where the act of of blowing will
actually of breathing will actually unveil a special piece
that it's actually close of my Compania I series that I did in
the past and as a reference of the artist of all say so yeah
just try it I think and it's kind of magic so hopefully
you'll like it all. Wow, this is sick OV we got to
go check it out. Like I know you're a collector
of of of Ogoria's like we got a dude.
We did go have a look. What day, what days can we come?
You can come every day. It's like the exhibition is for
is. It lasts for a month and and the
good thing is you can come back from home with a piece of
actually authentic authentified by our sameism.
So it's like if you go to MoMA and you come back with a piece
of MoMA and it's it's of course I think it's a it's a great it's
not just a souvenir it's like a real piece of art and you can
you'll be able to mint it on Ethics Hush and even if you
don't have a wallet in two clicks we we managed to actually
do something quite smooth for everyone.
Even if you don't have a wallet here in this space today,
everyone has a wallet. So it's not a question, but you
can come with your friends, your family, anyone actually, and you
can experience it and and have this piece back home.
That's incredible. I this is actually sick.
What you're doing is so cool and add the music also on top of
that I'm going to need to make time and go for sure.
For sure. How does it?
Is it is it? I know you talked about it for a
second here but you spent so many nights at the museum.
Is it is it like must be really crazy.
No being alone in there. Yes.
And most of all when you're surrounded with people who
actually speak about the pieces because like when you see a
paint, there is such a story behind it and actually the
narrative of the paint is changing over the years.
So what an artist could have done maybe 150 years ago could
change today in the perception of of what is the society.
And I Love Actually to see the perspective of the pieces like
that are showcasing at the museum because it's it's really
it's it's really deep actually. And and you know so for example
the the piece I'm doing with Gustav Corbett that I did with
the scientists. We did this with the CEA, which
is it sounds crazy but it's the centre atomic research in Paris
And with some biophysicists and and and few other scientists.
We we take this piece of Corbett, which is the most
magistrate piece of of the museum.
I feel it's a huge piece. You will see it when it comes to
the party and we decided to uncut this piece into a genome
and see how the living will move inside this, this paint.
So this is a kind of incredible thing and I'm very thankful
about the museum because the museum helped me to to achieve
all these ideas and and you know just they were like very
receptive. I would think like I said maybe
you go too far here or maybe no they were actually so happy that
you know I questioned this and give a the light of nowadays
technologies on on this incredible pains.
So yeah, hopefully, hopefully you'll you'll come and see that.
Definitely gonna gonna gonna gonna come and and check this
out. This is super cool.
I can't wait to see it. I go, yeah, congratulations
again and I can't wait to see in Paris.
Please all, all welcome. Can't wait to see you.
Haile Enzo Pariello A. Trebiento is there for me and
France. Thank you so much guys.
Haile Ciao. Category.
Yeah. Oh man, that's that's oh you
still have a a bunch of pieces. No.
Oh, you muted. Excuse me?
Yeah, I have AI have a bunch of a bunch, a few pieces.
Actually, I have quite a few. The ones where you get royalties
on them. Oh, those are cool.
Those are cool. Those are really cool.
Thank you. Ogoria Mercia.
Sorry, we're on video at the same time.
That's why I thought you thought asking you the question.
Oh, I didn't. Know they were.
Video Oh, great Shake, Mondo, SF We're here.
Oh. Hey, I didn't.
Know. Hey, are you coming?
Are you coming to direct Drinks Launch Party on Thursday night
at La Carmen? Of course I could have missed
it. Ali, Ali, Hopefully I can't wait
to go for French starting tomorrow morning.
Oh my. God for us again.
Anyways, going up. Thank you so much for coming
today. I appreciate.
You my pleasure, guys. Me.
See you, bro. Thank you.
Thanks for having me. Bye, bye.
Appreciate it man. This is super cool.
Honestly, the musee d'orsay like now in in like in like getting
involved in like digital art and everything is sick.
NFTS crypto like it's crazy, can breathe into this like thing and
it creates a piece of art for you and then you can be able to
like mint on FX hash on Tezo's from the museum.
To me this type of shit is crazy.
Honestly. Music also is really, really
really really really big museum. It's a big deal.
Y'all and shout out to bright moments.
Actually I saw they were they had the footprints on a lot of
this stuff happening. Shout out to Seth at bright
moments, his Co founders and the people behind that could they
are cooking. I saw a ton of bright moments
events being shut man. I can't wait for Paris.
Let's give this money away so I can get out of here.
I just want to go to the airport.
I fly at 8:00 PM tonight. I could go to the airport right
now. I if there was a flight in an
hour to go to France, I would get on it right now.
I cannot wait for Paris. I need dude, my that's my
hometown right there. I love it.
Anyways, OSF Mando.