How are you doing OSF are? You Are you going to have a new
video? I'm.
Going to try and sort it as the show goes on, but yeah, I'd
rather just go live than have to listen to that music one more
time. Like dying inside.
I know, I know the feeling. I felt the same way.
I'm doing. Well thanks.
How are you? I'm.
Going to have to do a very short show unfortunately today because
then we have a guest and we have Robit coming on.
So Farok again is away another week Jolly we'll get straight
into what's been going on in the market, what how you feeling
today? What have you been doing over
the last 24 hours? I feel a bit unsatisfied.
Is that the right time? I feel a bit unsatisfied with
the market. Like it felt like we were really
going to pump and keep going yesterday and then we just cut
it short after the Robin Hood headlines.
So it just feels a bit disappointing, but I guess
compared to the levels we were at this time last week, it's,
it's good. But you always want a bit more,
don't you? Yeah, it.
Does feel like a little bit of a disappointment, doesn't it?
Like we've come slightly lower in Bitcoin and everything.
Actually, the only thing that held up really was Solana over
the last 24 hours, which I think is slightly higher, but pretty
much everything else is lower. In fact, even on altcoins like
pretty much everything was lower.
So we're definitely at a weaker A weaker few days it feels like
or a weaker 24 hours. We did see a big inflow again on
the on the Bitcoin ETF it was fed 600 million since that big
outflow day, which is going to be a big, big reversal compared
to the the last few weeks. So nothing really that says I
think we're going to get absolutely hammered.
But it was interesting to say interesting to see that Bitcoin
didn't really, it didn't really get to producing a higher high.
It's kind of fallen short and now it's just like hanging out
or having just hit a lower low. It maybe has, I think it has
another test down towards 60 area and then we work out if
we're actually going to properly rip back or or maybe even head
lower again. What do you think?
Yeah, feels right. Like I think we've just come
back from pretty, pretty brutal collapse, maybe the wrong word,
but pretty brutal pull back in crypto.
So for us to just be up only from here, I think would be
pretty difficult I'd say. So yeah, it makes sense to, you
know like having been at 56, what do we get like 5657 K for
us to now range between let's say 60 and 63 is not a bad
result I think. And then let's just hope for the
next breakout. Yeah, it does feel, but that's
not really what I was asking. I was asking about what you've
been doing. Like it feels as though you've
you've you're fully into the fantasy top shit over the last
over the last 24 hours. It's it's really broken out as
like the one thing that everyone on C.
Oh, just me by myself again. I guess Mando was going to ask
me about fantasy top, so I'll try and ramble about a Fantasy
Top until he comes back. But yeah, that's the thing that
seems like it's taken over most of the timeline in the last few
days. I think the trade there was to
actually buy like the lower priced floor cards.
A lot of these floor cards were like 0.00, five ETH or something
like that. So there are just like 10s of
bucks if not hundreds of bucks. And a lot of that stuff is now
done, like 5-10 X moves and oh you're back, you back.
I think I'm back. Yeah, let me.
Just for some reason the camera isn't working but.
Just up to. Just audio then today.
Yeah, I was talking how. The truth.
Huh. You've been making some money,
it seems like. I got quite lucky because I I
mean I just spent, I just felt like fancy top felt like to me
what the beginning of friend tech was.
It was like a lot of people fading it.
Not many people involved, but some pretty smart people who are
on it. I think.
And every, you know, when something, when a new asset
launches or a new asset class launches, there's all these
missed pricings at the beginning.
So I think there's a big opportunity to begin to like buy
random things. I bought a lot of random things
and some of the stuff, you know, unchanged and went lower.
Some of the stuff I made some good money on.
But like my thing was to like try and buy the like blast
specific and fancy specific content creators.
I bought a lot of like this guy called Wardaddy, but I bought.
Because we might have them on wrecked radio tomorrow.
Yeah, he's, you know, when we played the football tournament
in New York at the team that won, he was the keeper for the
team that won it. He was a keeper for the team
that won it, yeah. And he's like a pro keeper.
I think he was playing like he was playing in Mexico for
something like that. Oh wow.
I think he, I think, yeah, I think he used to work at Proof
and him and this person called Jen have been creating a lot of
content around Blast, like informational content for a
while now. So his legendary cards are just
priced at like 0.9 ETH. And I was like, that just seems
like a good buy because you know, he's going to be, you
know, when people are like not existing influencers and they're
kind of like new to the game, they just have this different
hunger compared to everyone else.
And especially on something like Blast where it's a brand new
thing that's coming out and lots of people have stepped on it,
you do have an opportunity to like sort of like be big in that
I think. And that's what these guys have
done and realized. So yeah, I just bought three of
his cards and I bought them all for one ETH each.
And then I sold one for 6.9 ETH yesterday, which is pretty cool.
Made me feel it like, not like, not like an idiot.
Is that the trade now still then to buy like these like mid level
influences, what's the trade basically which what should
people be doing if they're going on there right now?
Yeah, I don't know. I think a lot of those, a lot of
them, those trades have played out.
I do think you know people have been talking about how some of
the common cards and the floor cards are still cheap because
they're likely to mix up the tournaments they do.
So they may not just do like all in tournament, they may do a
tournament which is just common cards or just rare cards.
So it doesn't make sense to have, I think have a big squad
and obviously if you buy five or something you can always upgrade
it to the next tier. So I don't know.
I think the I think the easy trade seem to have seem to have
gone now, but I've been trying to think, you know there is this
chance where? It.
It's the question is like does this go parabolic or not.
Like do you do you start seeing like 2021 NFT prizes for some of
the rare stuff that gets you a lot of points each round?
And I'm not sure like for example could you see like a
Greg or an Ansem card trade at 100 E for example.
I think a lot of that depends on how the rewards are allocated in
this tournament and future tournaments.
Like the last tournament, the goal was allocated kind of just
uniformly. So even if you came first, you
got this basically the same amount of gold as as someone who
came like 50th. And so there wasn't like a huge
amount to win from coming first or even top ten.
Now this tournament can change, we don't know, but there's
220,000 gold to be allocated from this tournament.
And I think if the top five or top ten prizes do get a big
chunk of gold, then you will see some of these rarer cars, more
valuable cars, trade up a lot. But it really depends on that
because no one is going to buy them if you can't win much gold
from actually winning, for example.
So they're not going to put in that much heath.
Right, right. Yeah.
It feels to me, I had a look at it.
I was like if it does go parabolic in mix, it could.
But there's there's now going to be an inflation of of cards,
right? Quite a big one.
Well, cards are actually deflationary at the moment
because people collect five and then convert them into a higher
tier. So, and I think as as of another
deflationary, but I think they're going to add more heroes
to the competition. So like the cards in existence I
think are deflationary, but you will have more heroes to choose
from. So the total number of cards
would increase, yes. I thought they were also going
to give Heroes cards as well. Yeah, apparently they are, but I
don't think that's going to be too much.
Like, I don't think they would just like give heroes like a
shit load of cards. Again, it doesn't make much
sense to me, but I don't know. I think they could.
Do and the payouts have been decent, it looks like.
It looks like something like 1.2 million.
Yeah. Like the top, top payouts I
think were six or seven ETH, like I think I got like 3.8 ETH
or something like that. So it's not bad.
I think you're going to have the ability to to distribute your
payouts to your card holders as well.
So yeah, it's pretty like, yeah, the the other thing you have all
this stuff you have, you've had the payouts, you have the gold.
But remember you're also accruing stars and and fan
points and my assumption is you'll have a token at some
point as well. And that's the thing I think
that's the thing I think that's you're really playing for here.
Like I doesn't, I mean there is some good goal to be one and but
it depends how they distribute them.
But if they just, if you get you know a good token from based on
your past winnings and based on how much you spent or your
portfolio value or that kind of stuff, that's something that I
think could be worth quite a lot actually.
And that token, if they're able to launch it before blast
launches or the jackpot still going on, then you you'll be
able to use that token as jackpot entry.
And they've said Pac-Man has said that new tokens have a
higher probability of winning the jackpot.
So if there was ever a fantasy token in the next couple of
weeks or two, I think probably not.
That seems very soon to have a token.
But if there was a fantasy token, that would be right up
there in terms of winning the jackpot.
And you know, fancy cards have already won one of the jackpots
as well. Anyway, so.
Yeah, yeah, that's makes sense. So unlike Friendtech where it
was literally just a bonding curve and people got paid
trading fees, right now you've got, you've got the token,
you've got that them having a token, but you've got the blast
token and you've got gold, I guess.
Which is like lots of ways you can you can hedge your bets just
for like people have been looking for Ponzi's to play over
the next month in Blast, right? Like this just feels like a good
one to play because it's fun. But yeah, a lot of it.
I think that's the thing I would say about Blast.
Like most of the games and Ponzi's and where you can farm
gold are quite fun. It's not just boring shit where
you're like stake this and trade this like there's actually like
fun things to do which makes it bearable.
I've never really farmed anything before because it's
just so boring and mind numbing, but I've actually found try, you
know, my attempts to farm gold. It's actually been quite fun.
So what's? So this is fun.
What else is fun? This is fun.
I think District 1 is really fun.
God, you tell me there's another discord.
I'm like kill, kill me now it's not.
You just got to just got to try it to understand it, you know?
I saw that post which I posted to you as well, which is like
there's been a big shift I think towards Telegram recently.
And I saw Kook said you got to be you got to be on Telegram
now. And I think I even saw Frank
posted that, you know, he might move their community to
Telegram, which I'm. I love Telegram, I hate Discord.
Maybe I'm just. I'm too simple for Discord.
Like Discord feels like like a message board, almost like it's
way more difficult than like a chat.
But yeah, you're you're big into Discord.
You think you think it. You see that shift happening?
The thing about Discord is it's pretty organized, but so is
Telegram. Like in Telegram, within a
channel you can have within a server if you like, you can have
different channels. And the experience on your phone
on Telegram is way better than the experience on your phone on
Discord. And there is no Discord being a
little bit overcomplicated. So yeah, I can see it.
And Telegram, you know, I mean, they're both pretty open source,
You can like do whatever you want with both of them.
But yeah, I don't know, I think I'm happy to use both.
But the annoying thing about Telegram is it's just so like
spammy. Like I've had to create folders
for different groups on Telegram and which means I don't read
like all the other groups, I just found it very like.
Whereas Discord I can actually kind of tailor the things that I
want and not want much more easily I think.
Yeah, I don't know. I I feel like Discord's Discord
and and because it's not really that crypto friendly either and
and Telegram's like trying to be like super crypto friendly isn't
it But we'll we'll see how that goes in terms of like specific
news in crypto over the last 24 hours you heard gens are coming
on again this morning basically saying that crypto's all a big
scam. I don't think there's anything
particularly new there. As we spoke about, I think you
saw Solana outperforming. Most of the things are lower.
I think we're they've kind of been heading lower as U.S.
equity started to open. In terms of, I guess we spoke
about the Robin Hood Best SEC thing, but I don't, again, I
don't think that's really generally that surprising, but
it looks like they've also delayed another ETTF.
So I don't know, I just don't think that ETTF is coming.
The other thing I saw which I posted today was that Pump dot
Fun is now making more money than Unilabs.
Sorry then Unispop. Unilabs.
Then Unispop, did you see this? I did see this.
Yeah, that's pretty wild, isn't it?
I see this as crazy like this. I just do not see a world in the
future now where this isn't just a trend which just becomes
bigger and bigger. Like the idea that anyone can go
on. Yeah, it's a casino.
Yeah, there's tons of rugs and like, I think some like 90% of
the coins will just go to 0. But it is.
People are just all over this thing.
It's it's reached Reddit as well.
Have you seen these like, really cringy Reddit posts about how
people are making, like 100 bucks on Reddit?
The Reddit crypto community is perhaps the cringiest of all the
crypto communities identified like it is so departed.
There's so much more PCI would say than like than crypto
Twitter. Have you seen some of these?
No. Sisyphus put one out earlier,
which just made me laugh. But yeah, I I feel as though
pumped off Fun, man. I know I've had experience with
it, but I just think this is meme coin dominance is only
going higher in my opinion. Like we're just now that all
this vapourware like people prefer memes to to most of the
altcoins that they tend to find. And now that anyone can produce
one and that there's just like fun of, you can be involved in
the token creation rather than watching it go to 100 million
then you kind of miss it. Yeah, I just feel like these
coins, this is, this is don't sleep on this.
I can. I can really, really see this
becoming bigger and bigger. Do you, do you think there's any
like regulatory issues with pumped up fun, like the
opportunity to come on and be a token?
Yeah. Well, there's no taking in of
capital, which is normally what people have issues with when it
comes to securities, like you taking in capital and promising
a return, right. That's what people would call a
security. So I would say this is the prime
example of it not being a security, which is why I don't
think there's regulatory issues. There's no expectation of profit
the the actual developer hasn't taken any money in.
In fact they've actually only paid for the initial fee and I
believe the contract is owned by pump dot fun like so I don't
think so but knowing in the US probably like you know they'll
call everything a fucking security.
But if I was to pick anything that wouldn't be a security I
would say pump dot fund takes all the the things of saying how
could you call this a security. It's like there's no team
working for your bags. There's no there's no taking in
of capital there's no pre sale there's there's like nothing
about it which would indicate that that it would be.
So you know, I I actually think that's the beauty of it.
It's of memes in general at least memes like this that
they're not like that. If it was a pre sale and you
said you're going to do all this sort of stuff and it was also a
meme point at the same time, you could argue that that's a
security, right? Yeah, yeah, exactly.
But not not this because yeah, it's it's it's a slightly
different situation. So I think this is like, yeah, I
mean if you ever spend time on it I see, I I keep on seeing
like people having all these different strategies to like to
like make money on it. I do think, and I even said this
to you today, like we need to spend more time looking at this
stuff man like that people are are printing crazy runs on some
of these on some of these coins now.
And like all the recent coins that I've done really well apart
from I think like MEW was the last one, which is like Philly
Cabal but like all the recent ones kind of have been pumped
up. Fun Coins feels like they're all
this is where shits all. Seems like you can create your
own. Like before, if you wanted to
make your own cabal around a coin, you'd have to get a dev
and there'd be some hurdles. Now you just you find like 10
people who are all whales, or not even whales, just 10 people
who are willing to spend a bit of capital, make something on
pumped up fun and it goes. Yeah, that too.
I mean, you'll see some gaming of pumped up fun coins as well,
but I don't think it's as simple.
That's what I would say as well. Like, yeah, it requires because
it's a bonding curve and because it you get a lot of people like
scouting it every single moment. It's not like you can you can
create it in secret, like as soon as as soon as it's created
a ton of people think can come in and buy it.
So your ability to like you have to be incredibly quick and
organised about gamifying it. And sometimes I don't even know
if that would work itself. So I think it's more difficult
even to do that sort of like cabal stuff.
But most of the coins when they when they like game that they
rug them, they kind of take them to like 75 K or just above and
then they like they sell. It's funny like once it hits
that 75 K threshold it's kind of seen as like a sell the news
event. It's kind of hilarious unlike
other things where it's like Oh my God, it's going on like once
it hits that 75 KA lot of people just be like Nah, this isn't
going to make it and then they all sell.
So like most of them die at, like at, at or around 75 K
because that's when it they move off the platform.
But I think they've got some plans to change it.
But yeah, that was just something I saw today.
This hammy token, which I've posted to you a few times
actually. Wow.
It's down. It's down like 30% since I
posted that hit. That hit 80 million, which is
now that was a 20XI. Don't think that was pumped or
fun, but that's that's like a popular tick tock meme, which
seems to be blowing up. And then pack moon.
It sounds as though like they're the the gold inflation is going
to go even higher, right? They're they're putting even
more into these lotteries. So I think I saw today that Punk
9059 said that he wanted to he's probably going to revise down
his estimations for blast gold because of the blast inflation.
Do you see this? I think they're not.
They didn't change anything with regard to how much gold has been
put in there, but I think he just revised it lower because.
You said gold dilution looks bigger than I thought.
Jackpot was adding 100K new gold per day on launch.
It looks like it's now adding 300K per day, which equates to 9
million gold per month. A lot more dilution than I
factored into my estimates. New gold estimates coming?
I don't know if that's necessarily the case or not,
because the jackpot was one for the IT was 1-3 days ago and then
it was 1-2 days ago and then no one won it yesterday, which may
be why the reward pool was higher.
Yeah, if. That makes sense.
Yeah, I don't, I don't know. But if it goes high and it's
based around that lottery, it does feel like PAC Moon could
win a lot of those lotteries, right?
So maybe that's what's causing the bid on PAC Moon today.
Yeah, I think, I think it's just a lottery.
So it's not like now that PAC man's won, it can't win it
again. And it's not like each project
is going to win, win once. Every project has a probability,
and we know that, he said. Tokens like ERC 20s have a
higher probability than NFTS. Tokens with better distribution
have higher probabilities. Tokens that have a big social
presence and engagement and Twitter District 1, all that
kind of stuff, have high probabilities.
So like Pack Moon is one of the only things that ticks all of
those boxes. I would say there aren't really
that many actual tokens out there that are up there like
that compared to Pack Moon. So I think that will just
continue to have the best probability.
One thing they did say is like new tokens will have high
probability. So if Fancy ever has a token or
maybe another DAP that gets popular has a token, then they
would maybe have better probabilities.
But I still think Pack Moon is going to continue to have the
highest probability, and I think you will see another win, if not
more wins there while the jackpot is open.
Yeah, I think too, too. I think the the fact that the
lottery is becoming bigger, it's just a benefit to Pac-Man right.
They want that to be a successful coin it feels like.
So that one's going to do decently.
Well that was. I mean we saw a a stronger day
in AF TS for sure. I've seen board eights go up to
like 15 D Gods continue to rise, pudgy Penguins continue to rise.
It was you know some of the older projects all had a
slightly stronger day. There was that crazy 2 million
AIP for Eight point Dow, but other than that I didn't really
see any specific news other than people just kind of not as
bearish on Afts, particularly board apes.