Hey everyone, I guess I'm going to host it.
I just love how you just like you're just you're just so
gormless. I thought you would because you
it was like over your audio. You would you would say, Hey
everyone, but. Oh, is that?
Oh, is that is that? Is that I don't know.
I guess it should have been me. I I wasn't there.
But yeah. Welcome everyone to another sort
of two British guys awkwardly on a space.
It is today's host, myself and OSF, Farouk and the gang are in
Dubai and see increasingly better weather photos coming out
of Dubai. Lots of pool parties.
Cowley, who is a occasional Co host of this show, is at his
first pool party ever, he says and doesn't look like he's
enjoying it that much if I'm honest.
But yeah, we'll be, we'll be covering all the crypto stuff
while they're what everyone else is having a good time.
It finally feels like we're having a slightly better day, so
maybe we can we can all breathe a collective sigh of relief.
We did briefly touch 5859 1/2 K again yesterday, but we have now
bounced. Bitcoin is at 64 K nearly,
Solana is around 1:40 and I think ETA is around 3100 so
decent bounce across the board. How are you feeling today or
stuff? I just remember, I mean we had a
double session yesterday, then we had the KBM radio space.
Oh yeah, I just remember. KBM Classic KBM, it's all over.
It's. All over.
Shame we got liquidated because those trades would have worked
out I. Mean.
Would be tasty right now, yeah. Destroying it if we hadn't run
liquidated. KBM did switch bullish but then
took the trade off. He just classically over traded.
He texted me before we went live and was like oh for fuck's sake.
Like I think it was a very small dip this.
And he was like oh I lost all the all the gains I made the day
before. He like lost it because cryptos
is crazy volatile at the moment and it's volatile unlike
Bitcoin. Bitcoin is like Bitcoin is
moving 5% a day, which is you just don't you just don't tend
to see I am spaces out like we did show yesterday, then we did
wrecked radio. Then I've been on court balls to
calls all morning, just did a little an hour long duck Jesus
space in Mandarin and now now seamlessly going into a show
with my best mate. So let's see, let's see how this
one goes. How you think we think this this
is going to be. This is the day that we bounce
and everyone forgets everything is bad in the world.
It does feel like stocks are having a better day.
They they've been down for four straight days and now they're
bouncing to I don't know if we're calling the bottom yet,
but it certainly feels like a nice a nice day.
Like I can't imagine we're immediately going to go down
back to 59 1/2. We did We did say that we
thought it could go below 60 again.
It did and then it bounced pretty strong.
Most altcoins interestingly made a higher low actually again on
that move, Bitcoin did make a lower low, I think, but Solana
didn't go down to 113 again, ETH didn't go down to 2800.
It was most altcoins actually printed a a higher low there,
which normally indicates that you've kind of seen the the near
term bottom in for a lot of coins.
So I'm feeling I'm feeling slightly better than I was 24
hours ago. What about you?
Yeah, I think so. It feels a bit less panicky now,
doesn't it? Like we, we were having, we've
had a couple of panicky moments over the weekend, yesterday and
it feels like the people who panicked probably sold into
that. And then we've we've since
bounced back without really like completely nuking.
Like both of those times we had these big red candles Wicks
down, but it got bought up pretty quickly and then we
managed to kick on afterwards. So let's see.
I mean, like we've had higher lows.
We've also had lower highs from from these bouncers too.
So that Channel seems to be getting like narrower and
narrower. So I just think it's going to be
continued consolidation between, I think I said on the show, I
think I said between 60 and 70 K, which was quite a wide range,
but it seems to be there there abouts that feels like it's now
between 60 and 65 K. So let's see.
I think I, I'm a big believer in narrative follows price rather
than price follows narrative. And I think sometimes people
just nuke prices because they're manipulating markets or they
just want to sell a lot of shit or whatever.
And then prices go lower. Then everyone's like, Oh my God,
things in the world are really bad.
I click on face, look at this, look at this, look at this.
Then as soon as prices go up again, everyone was like, Oh my
God, things are good. And it's like, well, you know,
are you saying things are bad or things are good because of the
reasons you're saying things are bad or things are good?
Or are you saying them because the price is lower or the price
is higher? And I often think narrative
follows price. So, you know, if crypto moves up
10% from here, everyone's going to be like, Oh yeah, like, you
know, ETF projections priced in. Like what if it gets approved
like Hong Kong ETS, Bitcoin halving, like, you know,
elections Fed might stop to cut rates before, you know, like
suddenly all the like the bull, the bull pieces come out and
everyone stops, stops talking about the bear theses and vice
versa when things go down. So.
So I, I agree with that to an extent.
I think sometimes, you know, event does cause price to go
lower. But then I think you need as a
trader, you, you, you want to be looking for those points.
Like it has felt since Monday where there was no there was no
explanation why we were going lower.
Do you know what I mean? Like, yes, last Friday with Iran
about to fire missiles at Israel, like yeah, OK, things
can go down and the same over the weekend.
That being said, when everything seems like simmer down and there
was no real reason why Bitcoin or anything was underperforming,
those are the sort of periods where you can look out for like
1-1 more retrace or like one like Max Payne.
Like everyone freaks out and then they can rip back because
there's nothing actually keeping it lower.
Like you said. It's just then it's people make
make up stuff about why it should go, why it should go
lower, but there's no real reason like Bitcoin going below
60 K. Like why was that?
Because because it had gone up so much because people basically
panicked, which which kind of just tells you that we needed to
have a little bit of a shake out and like you said, then we can
go higher. So I think sometimes, yeah,
narrative follows price. And I think you that's the time
when you should be, you can make the most, make the most, right
when it's like, no one really knows why things are going
lower, but they're going lower. Those are the times where they
can really go a lot higher. And everyone can be like, well,
we have no idea why it was lower in the first place.
Yeah, exactly. Yeah, right.
That's that I would agree. I I really agree with that.
Like it definitely felt like that we've we've I mean we've
been here on the show being like not really too sure why
everything's feels so terrible. Still think that we that Bitcoin
could go lower here, but still very bullish.
I think I I said I said I thought the bottom would be the
realised price for Bitcoin, which is like 58 area.
We kind of bounced higher than that.
We could still hit that that sort of level, but there's
nothing that tells me right now that Bitcoin should be a lot
lower Like nothing gold has been hitting all time high.
Oil is telling you that, you know, you don't have to be
worried about an escalation in the Middle East.
Oil's a three-week low now and the only real thing was like the
bond market. But crypto has barely paid
attention to the bond market for two years.
So I, I, I wasn't really that, that worried about overly
worried about things. It just felt like Chartist
started to come out and be like, Oh yeah, well, this is where the
technical resistance is. And you know, like, oh, we
breakthrough that. That's kind of when you know
that things could rip back, because there's no real reason
why I should go, why I should go low.
I think your your camera's frozen for me by the way, it
might be an idea to to leave and re enter perhaps?
Oh. Yeah, now it's just me again, by
myself. I don't know if I should.
Oh. Oh, Sims, I'm not by myself.
I'm. Not going to leave you on your
own, I'll just. Well, you have a, you have major
echo I'll. Turn the phone down.
I think Mike's back now. Good, Mike.
There, he's back. Wonderful, still having some
small Internet issues. When you have when you have
seven floors in your house, it's tough to get full Internet
coverage. I know.
I really don't like I actually really don't, but I I will not
be in this room come Monday. So we've got one more day of of
me, me potentially having these sort of issues.
Maybe we'll just cancel tomorrow's show.
You know, everyone else do thing and we're just we're just
hanging out. So yeah, in terms of the in
terms of the crypto specific stuff, it it like we've seen a
slightly better move even in some of the stuff that
everyone's involved in. The ETFs themselves have have
continued to see outflows. It looks like still I think it
was the first day that you saw some of the I think the Fidelity
or the Bitwise ETFs or an outflow.
I'm not overly worried about that.
Again, I think that's more what Obi just said.
It's like flows were following price there towards the end.
It wasn't anything, anything significant.
We've had four days of outflows, but the total outflow is like
less than 200 million or it's around 200 million.
So over the whole of the four days.
So it's like not been a big, big outflow period.
It's just been like a nothing period.
And some of the Unchained stuff that we've been seeing is that
Bitcoin whales have been accumulating.
There was there was something that came out that I think 2
billion Bitcoin had been bought by accumulation wallets over the
last over the last since it dipped under 63 K.
I'll actually just share my screen.
Hopefully this doesn't kill everything.
Here we go. And then the other big thing
that made me feel better today was this stable coin.
Like what we've really seen here is that stable coin issuance
continues to just hit new highs. I think finance actually
converted some of their their emergency fund into stable coins
yesterday. But you've seen a big divergent
here between the price of Bitcoin and the stable coin
flows that normally tells you that everyone's.
Yeah, they this could be a big, big rally back because crypto
itself is seeing, you know, a really, really big resurgence
still in, in the amount of money being poured into it, even with
Bitcoin going lower. So those are the things I saw
today which which may be a little bit more bullish.
It looks like finance also is now going to be I mean, I know a
lot of them are based in Dubai, but it does seem like they've
got a licence to trade there. So finance, which was a story
about six months ago that, you know, this could be the end of
finance. Their market share went down a
lot over that period and everyone was worried.
Obviously there were thread ORS writing tweets every every day
about how they're, they're, they're going to go imminently
default, which would have been a disaster.
I think you're now seeing that finance market share has come
roaring back and it feels as though Dubai is going to be
there, there like HQ, so to speak.
They're they're they're sitting there doing 13 billion or nearly
14 billion of of normalise volume now on a daily basis,
which is just that was that's really come back versus versus
last few months. So I think looks like Dubai is
going to cement itself even more now as a home for crypto with
that finance move then then then being a decent a decent foothold
now across that whole region, Asia, saving all of our bags, it
looks like. And then I thought this was
interesting as well. This is what we were talking
about yesterday, but all the recent launches have been a bit
of a disaster. Omni launched, wormhole
launched, parcel launched. I think actually I saw a post
from Sisyphus where you look at like Solana price versus all the
different airdrops. Yeah, this this account is
great. You follow this account.
Yeah, I do basics in Z. Yeah, I love it.
But like these, you know, you had PF, your GTO, your Jupiter
and then all these airdrops have come and Solana has just like
gone a lot lower and all these airdrops have really
disappointed, really, really disappointed.
Hopefully this whole narrative comes back, you know, like the
whole AirDrop narrative. I think I think it's important
like people want free money and they like those stories to come
back to crypto, but all of these tokens that have been released
since over the last month, they're all in the gutter
basically like 10s has not done well, Z didn't do well, Sharky
fight didn't do well pass I didn't do well.
I think drifts it hasn't come out yet, but it's coming.
But I think I think it is important.
You, me and you have never really played the air drop game
that much. Or it's kind of just like happy
if it happens, but some people really keep playing.
It's so much effort isn't it? Just can't be arsed.
Like I can scroll around and do all the shit to get air drops.
And yeah, just, I just, I mean, if I had no money or if I had a
small amount of capital and I was trying to make it in crypto
and I had a lot of time, I'd be farming, spending all my time
farming air drops because it is just free money for the headache
of going through these menial processes and the time it takes
to do them. It's not really a game I want to
play now because I just, I just don't know.
It's just. I just think the people, people
always say that it's free, but actually it's not necessarily
free. Some of them are like, some of
them are really easy to make and you have to do like three things
on chambers. Some of them is like you have to
be active or you have to be doing regular things.
And I do think that as a rule, I value my time very high.
Exactly. I think everyone should do that.
Everyone should value their time very, very high because you'd be
surprised at what you can achieve with your own time with
a purpose. And I also think there's a
security element to it too. Like I don't love, I just don't
love experimenting on new chains or with new protocols that often
because often like there are exploits that can, that can, if
particularly if you're like you're using, you don't have
that many different wallets. It can, it can be dangerous.
But I do like it when people give me an AirDrop.
But I, yeah, I'm not, I've never really been a big chaser, but a
lot of the AirDrop farming stuff that's happened has really
disappointed. It looks like over the last,
over the last few months, which I think is, is we're going to
need to get back to get people getting those stories again.
Do you see this? Did you see this troll thread
from from Gensler yesterday? Yeah, I did.
I did. Fucking hell.
I love that. Do you think he meant it or not?
We'll bring it up now, but Gary Gensler put out a tweet.
It's been an honour to serve as the SEC Chair of the last three
years. I've seen first hand how the
incredible staff of the SEC serve investors and issuers
alike. A thread.
Everyone in the comments thinks he's about to resign.
He then goes on to talk about how great the SEC is for about
1000 different tweets or about five more different tweets.
Do you think he do you think he's just trolling at this
stage? Do you do you like my do you
like my reply to it? Well, what did you say?
I thought that was a good one. Didn't get as.
Didn't get as many likes as as. I like that one.
I like that for you. Cheers.
He's like, God, yeah, I'm a I'm a fan.
I'm a fan. I he's going to go, right.
He's got to go. He's he's definitely not making
it through to the next next election, I think.
He's in his last few days. Yeah, he's in his last few days
for sure, I think. Because he's so clearly
politically biased as well, Like he's so clearly in like the
Warren camp. And I just think that he's like,
you need, you need a bipartisan like leader of the SEC.
You you like he says he just seems to be angling for a job
in, in the Democratic administration.
That's what I think he's been aiming for for a while.
And I think we've got to get rid of him, got to get rid of him,
get in Hester Pierce. I thought that was, that was one
of the funniest, funniest moments yesterday.
I mean, in the macro stuff, I already said this.
Like for me, everything was, yeah, we had weak stocks, but
nothing, I guess. Yeah, weak stocks.
But in terms of like major, major fears, it was really just
a retracement on anything. And stocks have come back
relatively strong today. And then in terms of the stuff
that we talk about, every single day looks like a slightly better
day for for meme coins and NFTS. We won't talk about meme coins
first, but I should talk about what's been going on in Yuga
Labs over the last 24 hours because I thought it was very,
very. Yuga Labs offloads 2 NFC games
amid effort to unshackle BAYC team.
So it looks like they have sold Heavy Metal and Legends of the
Mara which were those games that everyone was playing to, you
know with the fucking dookie I saw actually saw today.
Like remember that person paid 1.3 million for the dookie dash
coin. They then got convert key.
They got then got converted into a heavy metal which has now been
sold to this company far away. I reckon that got sold for a
grand total of $0.00. I think they just wanted to get
rid of that and I think that was the smartest move I've seen from
MUGA Labs in two years. What about?
What do you think? Yeah, look, I think I never,
like, I'm too presumptuous about how that outfit has fallen.
Like, I think they just raised a ton of money.
And I think they probably had other forces saying you should
do this, you should do this, you should do this.
And they tried to do it and it didn't work out.
So yeah, I think they've it's it's a sign that they've
recognized that what they need to do is consolidate and maybe
get rid of some of the noise and then focus back to their North
star, which was apes and and should really be apes and other
side as well. I guess.
So I mean legends of the Mara, like, what the fuck was that
about? Like it was just do you know
what I mean? It was just like you, you had
like dookie dash fine. You had heavy metal, which was a
bit confusing, but it was kind of like a little bit on the road
map and stuff. I was like, I was like, OK, And
then just this fucking Legends of the Mara thing came out and I
was like, what the fuck is this? It just, I don't know.
It just felt like to me like they had a massive team and like
everyone in that team had to have a job and go out there and
do some random thing and then and now they've.
So it's good that I think they've gotten rid of their
stuff and hopefully they have fewer things to focus on.
They can do them better. But yeah, it was just like.
I think when they had the legends of the Mar, I think
that's when we just sold the rest of what we had in Euglas
because I was just like, this is not this is confusing why they
have just like another not another chapter in the story,
another book in the series before finishing the first book.
Yeah, it's interesting because definitely goes goes away from
what they did recently because they recently bought Moonbirds,
right. But I think, I think everyone
realises that they bought Moonbirds for the Treasury.
They didn't buy the Moonbirds like really for the IP there.
They bought it for the treasury and because A16Z because a
bridge like both of their both of their investments there.
Remember A16Z just raised $7.6 billion.
So my guess is that they're not going to let Ugalabs fuck this
one up. That being said, I think they
need to, they need to continue to free the board ape team to
not be overly focused on stuff that the community doesn't care
about. It's a classic example.
I think originally they kind of went on this expansion concepts,
they bought punks, they bought, they then wanted to go and, you
know, buy gaming assets, build out a whole gaming team and very
little of it has really mattered to to to board ape holders.
I think board ape holders really just wanted to have a good
community that they could engage with and be seen as like having
a, you know, having a Veblen good having like a cool social
like online flex for them. And all that really needed
honestly was I think events IRL, some IRL clubhouses, I think
would have gone so much further than whatever they wasted on all
this gaming stuff and probably continuing to do this kind of
like quasi luxury or I don't know, cool St. wear style
collapse. And I think they could have
crushed it. I really think they could have.
I think the coin was interesting, but perhaps they
they bit off more than they could chew with the whole
metaverse plan. If they just create like a cool
online experience and maybe had to like do online quests for
some of their community to do at the same time, that's kind of
all you needed. But I think once they came out
with the coin, they had to have this like massive concept for
what it needed to be to get to the multi billions of dollar
TVL. And look, we can't really
complain. We, I think, and a lot of ape
holders made a lot of money off those big, big dreams.
So you can't really throw it back in their faces, but it's
definitely been a burden for them at this stage.
So I think, I think unshackling that selling stuff that the
community does not give a shit about and refocusing is really
what Bugle Labs would. If I was to be the CEO of UGLE
Labs right now, I'd be fucking hatchet jobbing this thing and
working out how to engage with my community even better than it
is. Like, I think they do well with
some of the community spaces. I think they have some good
community leaders, but I think they need to, they just need to
lean into more of the IRL stuff. I need to lean into this like
street wear stuff that that originally was and I think they
could do, They could still they could still save it.
So if they go down that path, like I, you know, it's the most
bullish. I looked at board apes in in two
years. I I literally said to myself,
should I buy some board apes? Maybe I will.
What do you think? That's the last time I've
thought that that could be the bottom.
Just it's the the reason why no one is buying board apes I think
is not because. It's I think.
Well, it's not because they don't think it will go higher.
I just think there's, so you're in a bull market of so many
opportunities within the crypto space of things that are
aggressively going higher with probably greater liquidity and
maybe even a lower, you know, capital commitment if you're
talking about gambling with less than $10,000, right?
So it's just, it's not that like, oh, border X will never go
higher and border X may double from here, but you know, in the
time that they double, you may have lots of things that are
doing like a 10X. And so I just think it's, it's
less about like people not believing they'll ever go
higher. It's more just people wanting to
spend their capital on other things.
And that unfortunately takes its toll on assets that are viewed
as unfavorable right now. And if you're someone who is
patient with a lot of capital to sit on and didn't need the
liquidity, then some of these distressed players could be very
interesting if you catch the right thing and you get the the
momentum. But it's not a, it's not an easy
money play, I don't think. And there are lots of easy money
players right now. Do you think there are that many
easy money players? We spoke about it yesterday,
like mean coins right now for a lot of different coins.
And it feels as though for a lot of them that were really just
like they didn't really have a team behind and they only have
like a they, you know, whereas like part of me thinks I look at
this chart and I'm just like, yeah, I thought these could go a
lot lower. I would love to like get them
back on a space to talk to them and basically just tell them
what I think they I mean, they lost their CEO since we last
spoke to them, right? Like we spoke to Daniel Allegra
last and he's gone. I'd love to just get like to get
to get Gaga and and Gordon even and we can just chat it through
let. Me ask you, let me ask you this
question, yeah. What do you think outperforms in
dollar terms and from now until the end of the year, board apes
or Solana? Solana's difficult 1 remote
right? I I, I, I would say that I
think, I think board apes could double and I think Solana,
Solana, yeah, I think you know what, I like them both.
This is the thing about having a diversified portfolio.
Like this is the first time in a long time I've thought about
buying board apes. Like what's your downside here?
Like if they are really going to H16Z has raised 7.6 billion,
right? They are telling you explicitly
they want to unshackle the board eight team and I think they got
rid of Daniel Allegro and that tells you everything, right?
Like tells you they don't want to go into gaming as much as
they ever thought they used to. I think they need to probably do
better at the community outreach.
Like it still feels quite corporate there.
I don't know if you feel like like this, it's gone that that
like rawness of the interaction between like the team and the
community. Part of that I think is because
Gordon has gone, but they can get some of that back.
This is, I'm not saying they're going back to 100, I'm just
saying I think they can 2X quite quite easily, yeah.
Yeah, I agree with that. That I agree with.
I guess the only point I was trying to make is like, you
know, you have if you're you're, you have lots of different risk
reward plays across the market right now and some are more
liquid than others. And some people will think, you
know, maybe board apps can double from here until the end
of the year, but Solana probably can as well, right?
And maybe, maybe Sol could be even more than a double.
So you're just in something that's like super liquid.
That's a major that doesn't have any like, you know, as big a
risk or or downside versus something that's like way more
risky. But the upside story isn't
there. Like if you told me, I think
board apes had a chance of 10X ING, then that risk reward is
suddenly interesting. But if it's like I'm playing for
2X in crypto in a space where things are, you know, it's doing
a lot. It's a tough, I think it's a
tough one. Yeah, and.
I think maybe there is a 10X in there, I don't know.
Like I'm on right now, I'd 100% part I think part of it is also
that I'm not that bullish on like as bullish on ether as a
story as I was as well, which has made it a little bit more
difficult. But I agree with you, like it's
a liquid, I think for any major, if you were to buy like 50 board
apes, like you've got a least thing that they can triple or
quadruple. And I'm not sure if I can like
make that play over the next six months or a year.
Like I think I think you you're hoping for like a 2X here, in my
opinion. Yeah, like if these go back to
26, that'd be great, right? That'd be great.
That'd be a real fucking win because I think crypto punks
don't feel that great either right now.
So you're talking about a world where ETH NFTS are on unloved
sector. So if they were on Bitcoin, I'd
definitely buy them. But yeah, I kind of agree with
you. Oh, it's tough, man.
These do look do look good. A lot of volume.
Look at that. Look at all that volume come
through. Interesting.
I saw Cyrus buying some and he's smart guy.
He bought some, he bought some mutants.
I think I'd just buy the apes. But yeah, interesting to see
that one. Let's see how that one
developed. I think I'm going to hedge
myself and say these are 100% going higher now, but I I'm not
going to buy them yet. I just like you said, like I
think I can put my money into other things which will probably
go higher quicker on this rebound.
That's what I reckon. And then I, I think there was
another article here about how much gaming has been destroyed
over this cycle. Like as a narrative, pretty much
every major gaming coin has been smoked.
Guys, don't know if I can bring up gaming coins, gaming coins,
but it's been a very, very ugly period.
Ugly month really for, for, for gaming coins, right?
A portal down 77%, Marvia down 70%, big time 50%.
These are all, you know, multi billion dollar coins.
This is like a little good dip buy, doesn't it?
One of the ugliest sectors for sure on this movement over the
last two months. This is is that two months?
That was right, Yeah. So like Bitcoin only started
selling off a few weeks like 2 weeks ago.
So that tells you how ugly we've erased.
Not only have you erased a like the last in the last two weeks,
you've erased gains for months There.
These these are really horrific moves.
This all of gaming right there. Like there's a few tokens that
have gone higher, but very, very small and really floaky.
They're calling that a gaming coin.
Come on as a as a meme coin. So yeah, definitely not a good
period. But Gala has been the only real
one like major coin and prime, I would say that have have held up
well in this move, but just a just a horrific time again to be
caught being along a lot of a lot of gaming coins.
Do you are you a dip buyer in this?
Do you think? Do you think stuff's going to
come back? Yeah, I would.
I just don't know anything about gaming, but I'm bullish on it
conceptually and I hadn't noticed like how down gaming
very ugly compared to other things.
I mean, even meme coins are not down that much.
So I think that's AI think that's a good buy in this
market. I really do like when when I
looked at and considered putting capital back into the market, I
was like something I think something's down 30-40, maybe
50%, but not really like super interesting.
But these, you know, some of this stuff that's down 70%,
they're pretty depressed levels, I think where you could have
real 2-3 XS there in in like real tokens and projects.
So what? About Ape Coin Is ape coin the
buy I. Prefer things.
That's down, It is Lowe's and it hasn't really bounced today like
the board apes have, like. Yeah, I still don't love tokens
that are like in their vesting periods, you know, and some of
the other tokens you mentioned like Portal, Mavia Gaming, like
they will have unlocks and vesting periods later this year,
but maybe they don't right now. So if you do have a bigger
market bounce, you probably have a bit more bang for your buck in
those, I think. Yeah, I think I agree with you.
That is one thing about gaming tokens is generally the
tokenomics are awful. So be very, very careful when
you're when you're getting into different narratives, but which
is probably why gala's doing don't know, right, right.
Like most of that is now finally bested and have all the coins.
This is crazy to see. Actually, I have all these
they're called Floki gaming coin, but the only coins where
the market cap is anywhere close to the Philly diluted market cap
are up and everything where there's dilution coming has been
smoked. That that is apart from prime,
which I think has been a very, very strong story.
All right, so that's that's that.
And then we'll go we'll go on to the meme coin session because it
finally feels like a day where you can open up deck Screener
and not want to kill yourself stronger day looks like across
the board for most meme coins. I was on a space Mandarin space
earlier talking about the epic bags but it does feel like if
you are a meme coin enjoyer today's been a decent ish day
right? Like most of the top meme coins
have all bounced decently well. A lot of these like very beaten
up cat and and dog coins. Like the Brett has been the only
real one out of the out of the, the the base meme coins that has
held up pretty well. Now Brett's the coin that's like
related to Matt Fury. It's like the Matt Fury
character, but a lot of the other ones are still kind of
down in the dumps. It, it feels like, but is this
is this the time to buy meme coins finally, Bowden Bowden at
400 million. Is that going above a billion
Shark cat going back to 300 million.
Do you think, do you think you're going to get involved?
I I did say on the show yesterday, I don't think many of
these will hit and go back to their all time high, but they
are a long way away from their all time high so they get very
easily 2X. What do you think?
This, this price action of meme coins right now in, in the last
hour or so, like even stuff like the duck going back to 40 mill
or whatever it is. Like it just shows you that as
soon as people smell the market bouncing, everyone's like piling
into meme coins. And it's just so clear to me
that meme coins right now are what NF TS were in 2021.
Like everyone knows that you can make your five or 10X or 100X in
that market. It's not going to be, it's going
to be very tough to find it in a different market within crypto.
And that's just the casino right now.
So I, we would absolutely see another meme coin run.
And I think you want, I mean, I don't want to sit here and, and
say, I think you want to have a lot of exposure to meme coins
because it's obviously all vapour Ware.
But personally I have as a gamble as a as a little gamble
or a punt, I have quite a high exposure to to mean.
So we've, yeah, we've certainly some bounce, isn't it?
Some high market cap stuff and also some low market cap stuff
too. Like I just we will see another
meme season. Taking a dip, right?
I was looking at this one today and being like.
Yeah, Mogg should be high. If MOG was in Solana it would be
at like a bill or even if it was on base.
What surprised me is Mog Mogg has 70,000 followers on Twitter.
I I didn't really know that until I started looking at it
the other day. Like it has become a bit of a
they've done a very good job at making that a term now in in
crypto. They have some ups and downs
because I think it's like slightly related to like the
West Coast influencer crowd now a bit bit too much maybe.
But I think, yeah, I, you know, I I like MOG, I like MOG.
It still doesn't see great volume though.
You know, like compared to one of the issues is that it's just
like board apes, it's on ETH. So it's like, even if you think
this is a good risk reward trade, like you're the multiple
they can go to is always a little bit capped because you
just feel like the volumes are not really there right now for
any of that stuff. Yeah, I think it's one of those
coins where the amount that I see it on my timeline, like the,
the engagement and attention relative to market cap is like
so off compared to other coins. And it's been around for almost
a year. Like it's not just, you know,
it's not something that's going to die either.
So we think it should be trading a lot higher than where it is.
And I, I honestly think it's just a chain thing, like if it
was predominantly on base or predominantly no or just on
Solana. I know they've bridged it to
like base and all that kind of stuff, but it's not really had
the same impact. Yeah, it would be way higher,
but you never know. Maybe I think it will have
another day in the sun this cycle.
I do think it will. The ones that I'm looking at
today, obviously the duck, then Bowden.
I think that's just the story that you know is always going to
be strong into the election. Pups.
Pups is down 50%. Everyone was talking about PUPS
2 weeks ago. I can imagine that comes back.
Runes is obviously in four well, in 48 hours.
I think that's kind of make or break for for for a number of
these. I'm not sure if I'm looking at
that much else if I'm honest. Like I don't know if I want to
buy a cat coin even on that. They they died so hard.
Like they died like nothing else.
The problem with cat coins is it feels too forced.
Yeah, it does. Feels me everyone's like, oh,
like cat coins, like it's going to be a cat coin that goes to
billion, whatever, and that's like everyone's like it's like
the same influencers, same like shit coin influencers pumping
the same fucking cat coins and it's all cannibalized and none.
I don't think any of them are really good memes or that
relatable. Like the best one probably I
think would maybe be shark cat but it is a little.
The knob cat was the one I like. Still thought it was funny but.
Yeah, Knob Cat's pretty funny too, but.
Shark cat dot fun coin which I like.
Yeah, but shark cap feels a built a little bit too much like
whiff, you know, like it's kind of like a whiff low key whiff
derivative. It is.
Yeah. So it just hasn't like I haven't
seen a cat coin and maybe mog is a cat coin.
I don't even really know. Maybe not quite properly a cat
coin. But apart from that, I haven't
really seen a cat coin where it's like, oh, this is like
doesn't feel either doesn't feel forced or is a good meme or it
was actually funny. And I think that's the I think
that's the reason why we haven't seen a cap coin hit a billion
dollars, not because it can't, just because we haven't actually
seen a good one. That is a strong enough meme in
my opinion. Yeah, this punky one did well.
See this. Yeah, well, there's all these
rumours about Wintermead being behind the snow, isn't there?
So I don't. Even know what that is, but wow,
62K files anyway yeah punk, that that one's been the the biggest
mover, I think, but I agree with you.
I I feel like I'm if I'm not buying a story that I love, then
I'll just wait for the next 10X. Do you know what I mean?
Like yeah, well, you don't need to rush into buying something
that you don't like on the bounce though.
If, if meme coins are really coming back, then new launch
meme coins will always be the the best risk risk reward like
for some of this stuff. So.
Maybe maybe just play it that way if you're not like you don't
love a cat story. Anything else you've been you've
been looking at? I saw, I saw KBM mention this
thing yesterday, right? Like on the show about OX
Mackie, who's the guy behind sushi.
And then I saw Beanie posting about it.
Have you seen this? I did see that, yeah.
We are very pleased to be backing Hero Glyphs.
We have, we have, we have a guest.
We have a guest by the way. Oh yeah.
All right, I'll bring them on in a SEC.
This is like Asian layer but for algorithmic solo staking.
White paper is live on GitHub. So I think they're going to try
and do the the stable coin yield, but with but with
different coins. It looks like, but OX Mackie,
kind of an OG OG dev in the space seems to be doing a few
different things. Yeah, sushi with his with his
main one. Anyway, we'll bring on the the
my Hooligan team. I've known them for for a while.
They've come to our show a couple of times before.
Let's bring them up and let's talk about what you guys, what
you guys are up to. Are we bringing them up tough?
Oh, they're just audio. Oh, they're just audio I.
Think you got a Oh? OK.
They may be talking, but I can't hear them.
One SEC. You hear us?
OK, We hear you now. You hear?
You hear them now, Michael. Two test 1/2.
You can you can hear me too. Yeah, we can hear you boys.
How you doing? Let's.
Go we're doing great, man. I mean great info about gaming
projects being down and then bringing us up to speak.
Yeah, set, set the scene, set the scene for you guys, you.
Guys are more than just playing. You're like a so we could.
Really shoot high. You guys are like media empire,
right? You guys are I I've known you
guys IA bunch of my my my bet hooligans many, many moons ago,
but I was always I was always blown away.
You guys were all like ex Pixar and like Disney and stuff like
you guys are proper animators. Yeah, team proper animators,
yeah. One animation studio that, you
know, started going into gaming. But yeah, we treat all this
stuff just like a Pixar project. Yeah, smart, smart.
So how have you guys, how have you guys been weathering the
last month or Yeah, the the bear market, so to speak for, for
gaming man. We're doubling down.
We're, we're going extra hard. I mean, we're, you know, if you
were to see the studio now we have, we have what, 65 plus
people we're, you know, people pulling all nighters on the
game, on our next collection, the others, our 3D assets, our
AI capabilities have just been skyrocketing.
So big bright future ahead. Yeah, and really the big thing
too is like, you know, we've been playing the long game, you
know, for for quite some time. So to have that like that long
term mindset, you're going to go through, you know, market
cycles, you're going to go through, you know, down, you're
going to go through UPS, you're going to go through it all and
really just got to keep true to what you're building, innovate
as things continue to unfold. And you know, stay true to to
people like yourselves and tell like our community who are are
here for, you know, the betterment of the space and just
trying to build cool shit and keep things rolling.
Yeah, I will say that, you know, a game, some gaming projects
might be down, but my pet hooligan's never down.
Neither is our enthusiasm for the space, neither is our drive
to deliver. Neither is our community.
You know, we've been here since 2021.
We're still alive and kicking, still delivering, never gone
anywhere. And you know, some of those
projects you mentioned, not necessarily the best example,
some of them, we're not going to give any names away, but great
examples are definitely like prime strong team always
delivering still here today. And that's what it's about,
right? People have lost faith in teams
and projects because there's not enough transparency, there's not
enough delivery delivery, there's not enough.
There's too much reliance on, you know, NFT revenue or token
revenue and not building a sustainable business behind it.
Dude, I remember your accent from the, from the early videos,
you were always hanging out in the in, in the community.
I, I remember it well. So tell me, how do you get
involved in my so you, I know you have the NFTS.
Am I right in saying you, you had a you had a token, but like
you're now launching. How are we expanding this?
Where are you taking the community now?
I mean, we've, we've not, we've not launched A token, but you
know, we are, we are early launch title for, for the Carrot
protocol. I will say there may be a claim
in the very near future for, for the my Pet hooligan community.
So definitely stay tapped into the socials and look at
carrotcoin.com For more information on that.
Information is live about that. It's live about, you know, what
you might expect as a holder as well.
So go check that out. Awesome yeah, like I when Carrot
I remember that being that being in the in the discord just keep
just. Keep your eyes and ears open,
Sir, and you may hear soon. OK, awesome.
Yeah, I hope you guys get a, I'm sure you guys will get a good
partner for that. I know you guys are like a, you
know, AAA team. Is there anything else that we
should be looking looking out for from you guys?
I mean, you know, we got some pretty cool things that are
really bubbling up to the surface here.
You know, I know the community's been hungry for the others.
We've been kind of in stealth mode building that out.
Colin's sitting here right now. I'm sure if if he starts going,
there's all kinds of output he'll start dumping on the table
for our community. Yeah.
Well, yeah. I mean, it's a, it's a, it's a
very well, yeah, you can cut me off at any time.
But you know, it's very passionate, heated, behind the
scenes creation of these things. I mean, you know, from my
perspective, it's, you know, what sets us apart is that we
started creating 3D digital assets from Mike Hooligan
initial collection and that, that that's what we do
differently. I mean, we use the Unreal Engine
as our foundational rendering platform for our studios.
So it's a natural that we have 3D characters.
These characters are ready to do ATV show, ready to do a feature
film. And so this next collection, you
know, the, the challenge is how, how do we, I look at this as how
do we sculpt thousands of the highest quality, beautiful
sculptures? That's that the community can
can get a hold of and, and then to embody to be their own.
I think of these not only just like sculptures, but things that
would make good toys that sit on your desk.
And then what? What?
What would they do if? You maybe, well, a brain and a
engine or. Yeah, yeah, possibly.
You know, if you tied in some AI capabilities, then you'd be
things like Tamagotchis. How do you make thousands of
unique personalities that evolve over time?
That's what we're talking about. I don't, I'm kind of coming into
space from a, you know, from an artistic perspective, from a
Pixar perspective where I see, I see, you know, living 3D
characters that then have a blocked stability and security
to then also grow and evolve over time.
That's what I see these things as.
Yeah, and you know, like. I pick your brain there a little
bit. So like, are we forget all the
blockchain stuff as well? But like, what is AI doing to
gaming right now? Could you just give it like, is
it, is it just exploding? I know there's a lot of like
world building. I guess we're going to move past
like standard NPCS. Like what?
What? What are the things you guys are
most excited about with that? Yeah.
So everybody right now has some familiarity with ChatGPT and
that's kind of the most common go too and, and people have fun
with that. And there's also some great
audio tools out there, voice generation tools, music
generation tools. And that's all fine.
But let's all agree it's all pretty generic and it's
extremely safe and, and, and it's kind of unreliable.
Now imagine if you privatize that you put the guardrails on
and you personalized it. Imagine if it knew you.
And it had a personality it. Has a personality that evolves
with you personally over time. Imagine if this thing could know
you know your your ten favorite books and your ten favorite
movies and and now all of a sudden this thing can kind of
represent you, but also be your own personal kind of buddy along
the way and do things for you. So it might even represent you
when you're not in the game as your personality.
Send them on quests. Send them on different tasks.
Do things that that you need them to go.
Go do an accomplishing game. So we're in a completely
different lane. I mean, you know, a couple of
years ago when someone interviewed us, they were
saying, yeah, how many, you know, you know, do you think
these NFTS are all going to hold their value in, in the years to
come? I, I think I said something like
97% of them will drop away. And I think it might be higher
than that, but I, I think our, of ourselves is completely in a
different category. I don't.
I don't even feel like we're lumped into the same category.
As everybody and I think one thing that we really do that
we've always tried to kind of like you know, set ourselves
apart on is we love building really cool technology and cool
tech is nothing unless you have a really cool product and IP to
put it into ours is my pet hooligan.
It's the game, it's a collection since it's all these pieces of
the puzzle that that we could put this tech into.
And because of doing that and starting in this this realm, we
have attracted, you know, partners like NVIDIA and
Palantir and Epic. And, you know, some really just
like top notch partners that are looking at us, you know, through
the lens of of whoa, what you guys are trying to do with
these, you know, AI driven characters, putting them into
these the game, putting into a virtual world and seeing how can
they not just be, you know, a typical NPC, but something
that's that that can have a life even outside of a game.
And it gets to this really kind of crazy world where, you know,
yeah, what if these characters were just available on your
phone? What if they were also available
on game and they can remember all these conversations that you
have with them? It sounds like this crazy, you
know out-of-the-box thinking, but that tech exist today and we
are working on that stuff today. We're also just on the cusp of
this breaking out to average Joe on the street kind of thing.
I mean, right now, you know, we're a kind of part of this
small community. We live 3 community and we like
to talk about all this insider stuff.
However, until this gets to the 10 year olds in middle America,
you know, until this gets to to large food chains where you're
talking and interacting with characters on a daily basis, not
even thinking about the blockchain aspect, you just know
that this character seems to have an intuitive grasp of of
who you are and where you want to take the conversation.
And I think that's we're just on the cusp of that.
I think we're better positioned than anyone else out there in
any space, including Apple, including Google.
We're in a very unique space. And I think that's what Palantir
recognized when we were presenting with them last month.
It's an, it's an interesting concept, isn't it?
Like the the concept of an AI assistant.
I think everyone's going to have one like just an AI, like the
person you're speaking to on a daily basis that just like can
do little tasks for you and it's more conversational than Siri
or, or like Alexa and probably has more of a personality than
those sort of things. I That's 100.
Percent. I've already seen like people
having friends and stuff. So if you guys can create.
So yeah, why why can't it be a, you know, a maniacal rabbit?
I think that why why can't it? So let's let's I, I see where
you're going. I I do think, yeah, this is
smart angle to go in. I can imagine if you could own
that as an NFT that could also, yeah, they, they could be
valuable. I think that's a bit smart.
Well, what's great about that tattoo is that it plugs into any
character any like it could be the others, it could be.
I mean, we've created hundreds of characters that we've, you
know, tested this on. And so, you know, the my pet
Hooligan, you know, characters, it's, it is so ripe because we
have the community behind us. We have a game, you know, that
we test all this stuff in and you know, that's where I kind of
want to come full circle. It's like we really are playing
that long game here where, you know, these market cycles will
go up and down. But we just keep our eye on the
prize of, you know, delivering high quality content, high
quality, you know, products of the market and trying to
innovate, you know, as as best we can and moving forward and
listen to everybody as we go down the road, I think we'll end
up in a good place. And you know, and just a little
bit further than that, more than just the game, more than just my
pet hooligan. And I think it's like a, a
Pokémon style kind of character that kids can all have in their
back pocket in the same way that I want, you know, you see kids
trade, play Pokémon and so on. And these different cards.
Now imagine if you had one that also helped you with your
homework or or helped you, you know, coached you, you know, on
your on your workout routine at the gym.
These are things that I think can, can infiltrate in, in daily
life. But not just it's not AI trying
to mine you for data. I see.
I see this as an AI defense against the AI out there.
I always said that the best offense against AI taking over
the world is another AI. And so to me, I think of these
things that just kind of get into everyday life and as a as a
buddy, not as a not as a generic cold Siri character, but as as
as a buddy with the personality, your crazy uncle, your crazy
neighbor, your your silly pet. I think that's where the stuff
is going. OK.
Well, guys, it was great to have you on you guys always, you
know, a top tier team and I guess we'll look out for the for
the carrot alpha coming soon, it sounds like.
Coming soon and thank you guys very much for having us.
It's always a pleasure. And yeah, thanks for for keeping
up and for everything you've delivered the space and, and
thank you for, you know, the Carrot Gang for showing up and,
and always being there right behind us.
All right, guys, it's great to have you.
All right, take care. Thanks a lot.
I think we're going to call it there guys.
So thanks again for for for tuning in.
We're going to be here again tomorrow.
So are you on holiday tomorrow yourself?
Where? Where are you off to?
Bringing yourself back to the show just.
It's like, can you slap out of it?
You know, like in the, you know in the matrix when they like get
back to like the the real world. Yeah.
So why have you got your Rd. card where you have to?
I'm playing playing golf with some friends, an annual annual
golf thing with my mates from home on Saturday but it's up in
Birmingham so thought we'd drive up there on Friday and stay the
night but after? Driving.
Lots of gossip happens at that at that that event.
Yes, it's a it's a very gossip driven event.
Yeah, yeah. OK.
Well, that sounds good. We'll, I guess I'll just be
meeting you again tomorrow, but. Just no Rd. caster, that's all.
Yeah, don't worry, nothing like Yeah, got us covered with my
Internet. But yeah, we'll see you again
tomorrow. Hopefully the market stays
green. All our coins are higher, all
our NFTS are higher. And yeah, thanks guys.
Thanks. Yeah.