Oh, yo-yo, what up? What up?
Good morning. Good morning, GMG.
Tuesday, baby. Oh, my Lord.
December 17th, 2020. Look at that.
Another beautiful day to have a beautiful day.
I got my coast in the house. Tyler Mando.
Good morning, boys. How are you guys doing today?
I'm doing good. How are you?
We are. I'm fantastic.
I mean, I woke up to 300 grand for owning a JPEG.
Can't, can't complain. Can't complain, you know, you
know, Bitcoin all time high Pangu's Pangu's doing great.
It's a big day. It's a beautiful day.
Beautiful day. Lucas on the way.
He's a little busy right now. He should be here in about 1520
minutes. But you know, it's it's
definitely it's definitely a great a great day today to be in
the space, Tyler. I mean, you're dripped out.
You got the Penguin background, you got the Penguin hoodie, you
got the Penguin hat. I mean, how you doing today?
Yeah. I guess we're rocking triple
March hat, hoodie and toy here today.
It's big day. It's a big day for everyone.
I will say, like I'm feeling a little bit different.
So like have you ever been in a situation like where you won a
big playoff game, but you couldn't really celebrate
because the goal wasn't to win the playoff game, the goal was
to win the championship. I feel like that's where we're
at. Like today is a big day, but the
goals are higher than this. So it's it's soft celebration,
but we still have a way to go. Yeah, no, 100%.
I mean, look, I think this this thing is still on their way,
right? So obviously, you know, Pengu
hour today as Lucas going to join and obviously that's like
kind of like the big thing happening in the space right
now. It's not like Bitcoin's at
$108,000, right? That's, that's just, that's just
like a, that's just like a side thing going on at the same time
as we're talking. But anyways, as usual for the,
for the new listeners in here, because we have obviously some
listeners coming in for, for, for Luca, we're live on YouTube,
we're live on Twitter broadcast. We're live on video every single
day. We're going to post you guys all
of that in a in a second on timeline.
Lucas is going to join us on video as well in 23 minutes
normally. So should be a banger of an
episode. So anyways, today on the show
today, let's talk markets, let's talk pengu.
Obviously, you know, I'm, I'm curious to hear you guys
thoughts, expectations on Friday night on the stream and that we
talked about a lot about how we expected the open.
Clearly it opened bigger than than what most people thought.
I think we were in the one to two billion range.
It was about a four to $5 billion open.
So let's see where it it goes with that.
And then obviously Tyler's topics, let's see what Tyler has
in store for us today topic wise.
Obviously think it's going to be heavily Penguin related.
And then obviously we have a loot box paint.
I mean, we are Tuesday after all.
And hey, I'm just going to stack this up with Penguins.
So maybe someone's going to come on this way and win the fucking
Penguin themselves. I think that would be quite a
good timeline. And as usual, this show is
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Speaking of getting drained, be careful everyone.
And there's a lot of euphoria on the timeline.
We claim sites and everything. So there's a lot lot, lot, lot
lots of scammers out praying today.
So be very careful. But anyways, anyways, anyways
may though missed you yesterday. Let's go to you, baby.
Yeah, GM, everyone. So I guess it's a little bit of
a big week for macro. You have the Fed, which is going
to be tomorrow, and you have the BOJ and you have the Bank of
England. So you have a few different
interest rate decisions by the major central banks. the Fed one
will probably be the biggest. It is largely expected that they
will cut rates. That's been well telegraphed.
It will really just give our guidance going to next year if
they say anything about Trump and its tariffs, if it gets
political around that. Other than that, there's just
been continued kind of indication from Trump, I think
that we're going to get some sort of a immediate move for a
Bitcoin reserve from his part. He said yesterday may move to do
it day one and that caused Bitcoin to continue to
outperform the rest of the space.
Bitcoins headed up to 107 1/2. Right now the rest of the market
is trading OK. I wouldn't say it's trading
great, particularly Solana continues to underperform.
Pengu obviously took a lot of liquidity right now, but I would
say the majority of the bags that I track are lower today,
particularly some of the major meme coins on on on Seoul, as
well as a lot of different old coins.
So this feels very much like a Bitcoin LED market.
XRP has been one of the main rallies over the last 24 hours.
That's something about another 10% to wow 2.7 area.
They've got a stable coin coming today.
That's been much talked about that idea that I can maybe
unlock D5 on XRP. There's a lot of expectation
going into that. I don't know if it's going to
disappoint or not. But yeah, that caused that
caused the rally in that. And you had a rally in in some
of the other kind of Dino alts as well on on the back of that
too. But still still a mixed bag.
I would say Bitcoin going up to 107 KA 108K.
I would be way off for some of the predictions I thought for
some of the other coins. Yeah, this is this has been
slightly surprising to me, I would say, but yeah, Bitcoin,
Bitcoin leading we ETH has been is it has has continued to be
relatively strong, I would say as well alongside Bitcoin like
it feels as though ETH has taken over from Bitcoin as from Solana
as like maybe one of the other places where people choose to
have their like beta exposure. ETH had a three high yesterday,
which was, yeah, relatively strong and ETH based coins have
also been slightly outperforming, particularly like
the meme coin space Pangu's. Obviously the big air drop all
the most recent after hype continues to hit an all time
high. That one's been very, very
strong. So people I think hoping for a
hype like move with Pangu this time.
But yeah, that's that's kind of where we're at.
Yeah, it's, it's big. It's big.
Yeah, the Trump stuff just keeps on coming, right?
It's not like, it's not like he's been saying it for months,
right? So like he came at the Bitcoin
conference. When was the Bitcoin conference?
April or something like that and and and and talked about a
Bitcoin strategic reserve and then the guy won and people
still thought they were going lower.
But anyway, that's a conversation for another day.
You're right though, this is a a Bitcoin hype and fart coin LED
market. It's like almost like fart coin
has become Bitcoin beta here. I mean, Tyler, you must be
euphoric. I don't know, dude.
The the more Bitcoin goes up, the more this fart coin keeps
grinding. What?
What else do you do you need to see?
From fart. Coin.
To to to show you that this is the, this is the coin.
Yeah. Your coin.
It it it's great. Being on a day when everything
else is struggling, right? I, I, I think we are in the
vertical phase. I think it's going straight up.
I love that. I love that.
What do you, what do you think, Mando?
Like, what do you, what do you think here?
Because of course I've been seeing a lot of like big posts
about like Solano weakness here, like obviously so BTC solely
looks like pretty bad. And then you.
Yeah. My bags have been pretty wrecked
for the last two weeks if I'm honest, Like Kill Guy, Nudeng
Go, all been bad. I own quite a bit of far coin,
but that's been the only real gainer I've had out of my bags.
Obviously of GLP, which has done very, very well.
But yeah, all my beta bets have been have done terribly.
Like it's not been a good period for me in terms of in terms of
trades. I don't know if that changes.
I was speaking to OSFA little bit today.
Like what has happened? Like why is Solana just trading
like absolute garbage and all the all the coins around it
trading. And I don't really know, like
we, we, we, we mentioned potentially it's the fact that
Phantom has gone multi chain, which meant there's like less
focus I think on on just soul. I don't think it's pump fun.
Pump fun's been there the whole time.
You, you could say some of the unlocks for soul, but like soul
has underperformed so much now versus coins with much bigger
unlocks that it, it would be surprising for me if it's that.
So I don't know. What do you guys think?
Like why maybe the AI AI seems to be in its own sector and I
would even say that the main runners on ether I mean virtuals
is at 3 billion whereas Solana felt even is felt more PvP on
the way up right? Falcon is doing hive like zero
bro go and none of the others aren't doing that well while
while Falcon is doing well. So like, what do you think has
changed? Hype.
I was going to say that probably hype.
I mean, there's the flows speak for themselves, right?
I think that's the that's the main one.
And this time it's not like, oh, BSc money moved to Solana,
Solana money moved to BSc Salon is dead.
Salon money moved to Tron Tron, like Salon is dead.
This time hype is an actual like there's actually like stickiness
to that, right? Like the whole Trump and BSc
pump was bullshit, right? But I think like this time
around, like this hype thing is really well, you have people
buying auctions like tickers, like God was $1,000,000 the
other day. What happened?
You had the front run this alcat coin.
Who who was it? It was a Mon guy.
He's a pixel Mon dudes front run.
That was like a half $1,000,000 listing.
Like I don't think you can ignore that.
And the fact that it's like it feels like the most PVE thing
ever, right? Like every single ticker over
there is higher and then you have every single Chad in
crypto. Like the guys with real money,
not the people that post fake screenshots of their phantom
wallets are all in hype and not selling it.
Like I, I don't know, big hype whales selling anything else.
Like you have all the big dogs. Like what still flood.
I mean flood is out there saying like we're going to flip BNB
smart money. Like all these guys, all the
people with actual cash in this industry are behind it.
And I'm starting to really love the meme of like, which probably
going to not be a meme very soon like a flip in BNB like the on
chain Binance is going to flip fucking off chain.
Like I don't know, I I'm really liking this narrative.
What do you guys think I. Think that's a good narrative I
think we're playing out. So like Hyper Liquid was the
first spot to list Pingu perps today.
I think it, it was even live before Binance was.
And as long as the token is going straight up and the tokens
on hype are are going straight up, I think it's going to
continue, right. I, I think the first two tests
is where we get some red days in a row and, and we'll, and we'll
see some of that early conviction tested a little bit.
But it, it's a party over on hype right now.
And like, if you're looking for a trade like Seoul is up, you
know what, how much this year? And then now we've got a shiny
new object. That all being said, I still
think Solana is fine and I think the ecosystem has so much going
on probably got it's going to be a little volatile through the
unlocks and then I think we start to to grind back up.
Yeah, I mean, look, Pengu dropped on Solana, right?
I think there's a reason for that.
So it's not like it's gone the whole AI narrative though base
has virtuals and some of them I think AISBT is cooking, right?
I think what is it, memes AI. Few of the other AI plays
obviously fart coins like the main narrative right now and
it's the leader on that. And just today just hit another
all time high just now, right nearing $900 million.
And this, the higher it goes, just the higher it goes, the
better it gets, right? Like the higher this far coin
shit keeps. Going I think that's what I'm
trying to say though, is that you have your like winner and
then everything has to get wrecked for that winner to have
to happen. And that's very different what
it was a few months ago. I think something I think it's
even longer than that, though. This has been going on for like
the last four weeks, right? Like this is this feels like
it's a slightly longer trend than just just since hype got
big, but maybe it is. Is it AII mean?
So the AI sector is 10 billion now and it was 2 billion a month
ago 2. Months ago.
So maybe it's a little bit of that.
There hasn't been. Enough inflows to really balance
it all out yet. Yeah, I mean, that's probably
what it is. So anyways, we'll see.
I I personally, like I made a joke yesterday, but like we're
back at the stage of the cycle where like everybody says that
Salon is dead. So it's it's always like that,
right? Like there's always a time where
like people call dead and shit just comes back and then
everybody just says, oh, no, nevermind.
It's not dead. It's the main thing of the
cycle. So it's just, I think Mandel
bro, it's just one of those situations where it's like, you
know, it is what it is. I think Luca picks Alana for a
reason. He made it very clear when he
showed the the Pengu thesis and he laid it out for people.
And so, you know, it's just it's just normal stage cycle.
It feels also I we talked about height, but kind of doesn't help
the XRP is just up only either, right?
And you were talking about the Dino cones not long ago, Mando
taken away from the meme cones. So that was your thesis, right?
Yeah. That happened.
That was the first stage of this.
Then some of those who've continued to, to, to go, like
XRP still going, but most of them have, have kind of petered
out. I don't know, like it's been a
big shift though this, it's been a very big shift.
Like the bags that I thought would outperform, you know, when
we spoke a month ago about what we should own if Bitcoin goes to
100K. Like most of them have done
really badly and coins which I don't think we would have
predicted have done well. Yeah, it's definitely, it's
definitely not great in the smaller trenches.
But anyways, quickly Tyler, let's go to you and then 10 more
minutes until Luca comes on and see what he's got for us.
All right, one more top stories. FTX announced its reorg will
come on January 3rd, 2025, and those initial repayments will
start within 60 days of that date.
So the FTX stemies are coming avalanches.
AVAX 9000 officially went live yesterday.
That's a major upgrade. Ripple announced the launch of
its Ripple USDRLUSD stable coin that's going Live Today.
Athena announced its USDTB stable coin, backed largely by
Blackrock's Biddle token. Anchorage Digital secured a bit
license from the NYDFS, one of the the first institutions to be
able to do that, allowing them to offer crypto trading services
to institutions here this next year.
In token AirDrop and protocol news, Pingu went live this
morning, 8:00 AM Eastern. Looks like it's trading right
around a $3.7 billion FDV, folks, which notably exactly
where it ended up on the pre market.
So the pre markets were right this time.
In other token news, Nifty Islands island token that goes
live here. Actually that just went live at
10:00 AM Eastern. So 2 airdrops today.
I'm surprised I didn't move that one, but a little bit
overshadowed here with the island token is live the meme
M3M3, the Meteora token. They tease an AirDrop for Vector
users. So if you're on Vector, make
sure you look into that. Blast back.
They're they're back. They teased a mobile app launch
coming soon along with the tokenomics update and some other
major announcements. So Blast is back on our
timeline. Monad announced the creation of
the Monad Foundation as it prepares for its
decentralization journey, IE token.
And then Finance announced Finance Alpha, a new platform
within their wallet, spotlighting early crypto
projects with growth potential in AI and crypto.
Just a couple headlines here. Overall market cap holding
steady at 10.6 billion. Virtuals briefly hit 3.2 billion
yesterday. It's down back to 2.7 this
morning. AI16Z up closer to 900 million
after they announced that them and Eliza Labs have a
partnership with Stanford focusing on agent trust
mechanisms, multi agent economic systems and decentralized agent
governance. Quite a mouthful, but a big
partnership there. Tank, Opium, Kiki and DJ and AI
were some of the top movers on the day.
And then it memes. The NFTS meme mainers look to be
green here this morning of about two to 5%.
The UK issued a warning against Solange's Retardio meme coin
saying it's not authorized. And NFTS $85 million in volume
on the day. It's the highest we've seen in
nine months. So we continue to print new
highs in NFT trading volume. ETH NMT leaders were mixed.
Punks were back close to 40. Pudgies, of course, certainly
volatile. It looks like I'm seeing them
right around 18 right now after the AirDrop.
Not a huge surprise. Then in some negative news,
Cyberconx received a Wells notice from the SEC regarding
their blockchain game having a token cause for some potential
concern for broader Web 3 gaming projects.
So we'll see where that one goes.
All right, well, that's a lot. I'm just seeing reports of
perhaps the nifty island Twitter being hacked.
Just want to flag that. I just had a bunch of people
just ping me right now. Apparently while I posted that
in the sappy seals Discord too. So apparently there's a hack
going on. So I'd be very like, again, be
careful today, OK, Please, like don't sign shit from your
vaults, from your accounts with all your coins in and shit like
that, because today's going to be like scam central, right?
And, and I mean, it's a great day for them.
So be very, very, very careful here.
On top of the Retardio thing that you said, they also banned
the X account today. I don't know, that kind of makes
me want to buy some all this stuff, you know, the, the UK.
Hey, what's going on? Mando, what's the UK doing?
Coming up against Retardio, Yeah, I don't know.
There he is. I like that.
Kind of weird I thought like why
they've singled out retardio like.
So EU KS financial regulator has issued a warning against
Retardio. The firm may be providing or
promoting financial services or products without our permission.
And then the UK has like so many more problems to deal with and
they decide through this like you can't even walk through
United the UK without like looking behind your back.
But somehow by Retardio is the the danger here.
But anyways, that's I mean, you know, retar DO as as as they
say. The other big news, Tyler, you
covered, I mean FTX air drop season, baby.
Yeah, that one is big. So we got the update.
So let's see first distributions expected again within 60 days of
January 3rd. That is the date that the
reorganization plan takes effect.
Kraken and Bitco will help facilitate the recovery process.
So if you are an impacted user, there are things a few things
you need to do. You need to complete a KYC
verification, submit some tax forms and onboard to either
Kraken or Bitco. It looks like the initial
payments are going to be those with $50,000 or less, though
that does represent about 90% of claims and the distributions for
larger claims will follow. As a reminder, these are these
claims are at prices from November 2022, so not current
prices, but it's still $16.5 billion and it looks like
claimants are expected to recover up to about 118% of
their claim values. So I mean, it's probably, it's
good of an outcome I think as you could hope forgiven how bad
the situation is. And I think the question will
soon become where does the FTX money flow, right?
Is it, is it, is it going back into the casino or is it out?
Is it out forever? Obviously Pengu, you know they
aren't they giving a Pango air drop to FTT holders.
That is a part of that, right? Yeah, that, that is a part of
the thing. Look, I don't know where it
flows back, you know, but obviously it's going to go back
to my bags, right? What do you think, man?
What does the What does the FTX money flow back?
I don't know now. Before if you said it was coming
in Q4, I would have said it would have gone to like a bunch
of the L ones rather than Seoul. Now I don't know.
Now I like, so I think it's a decent portion of that now.
Yeah, I don't know. We'll see.
I mean, if the hype trenches keep heating up, it may go
there. You you just don't.
People. People.
Just go where the money goes, you know?
People go where the money goes. I mean, yesterday I was
contemplating like selling a big bag with my soul stuff just to
move there because why not? Like, if this shit's going to
keep going, it's just going to keep going.
Like I think, I think you just follow the money, right?
And so and so that's. Basically what I've been
debating a little bit, like I feel like GOAT is slightly
different and Falk on a slightly different AI stuff, but I have a
lot of generic Solana shitters and I'm like, what is going on
here every day that it's down like 10% at the moment.
And I don't know if that's going to turn around or not.
Like that's it's been kind of weird.
Like good news even for them gets massively sold.
It's a danger bit of the market there because Bitcoin's at 108
K, right. So I've had a lot of these
things and although I've made money over the last month and a
half, yeah, I've just been debating that what is the what
is the thing to do? What do you think?
What are you guys doing? What are you doing, Tyler?
I I don't have any Solana meme corn exposure that's not also in
the AI sector. Yeah.
So that's that's where I'm focused.
I guess Pingu is now an exception, but I I exactly what
you said, I kind of saw that happening and it just felt like
there's more potential upside elsewhere and some of the some
of the hype and steam is kind of worn off a little bit.
Massively right, massively I I'm yeah, I don't really know.
I honestly don't know like the although I've had large good
calls in the AI stuff, all the generic stuff like we said that
like the our top picks were going to a billion dollars were
Fog Mudeng, I guess go and what were the other ones we had?
Did we have? All the big ones got pretty much
decimated, right? They've been decimated.
Yeah, everything's. Downside, look at the chill guy
chart. No, I saw it before this
morning, before this. Morning.
So this little bit is. 60 million right now, yeah.
This new trend is you can catch the run to 300 to 500 million
and I think that's where you just have to sell because the
odds of you getting another two to 4X on just like the.
Hot. There's just nothing there.
It's it's not enough or and you're just going to slow bleed
out is the more likely scenario. Yeah, there's just nothing there
and and so we'll see. What do you guys think?
So let's talk about Pingu right? Like obviously this is the big
one because I'm curious to see your thoughts.
So if you're in the audience, there's about 1000 people live
on spaces. Let me just ping Luca the link
again. So he should be coming in soon.
But there's, you know, I'm curious to hear your thoughts.
You know, I consensus, I guess in a way was the opens going to
be one to two Bill open was like, I think 14 trillion
actually. So fill the Wick.
Someone bought 10,000 Penguins $14 trillion worth $5 now, but
you know, that's quite the Wick to fill here.
But we're now sitting at $3.29 billion, OK, there appears that
a lot of people can't claim. So I understand like a lot of
people frustrated for that. And there appears that also
something people could claim only got about 5% of their aloe.
So naturally, I think like we're, we may be in for a little
bit of a more of a dip before before we go, we go higher.
But what do you guys think? The dust settles here.
We're three 2636 cent token here.
What do you guys think? Yeah, I can get my thoughts.
Yeah, you go ahead. Man, yeah, I there was some,
there was some claim issues early, which I think you kind of
have to throw out the first hour of price action.
I think some people got frustrated and the, the
objective reality is there's a lot of mercenary capital in
here. There's a lot of folks who just
bought in the last two weeks. There's a lot of folks who just
had the the Discord roles and whatnot who are racing to sell
today. So I think there's going to be a
lot of cell pressure. And then if you're a buyer, you
were just kind of watching the claim percentages.
It's like, why are you want to buy right now when you know this
mercenary capital is still out there to to try to dump on you?
So I think folks are going to try to find a bottom.
I don't know exactly where that is, but my mental model for this
token is I actually think it's going to play out a lot like
wrecked, but I think we'll find a bottom here in the next day or
two and then we'll start to slow grind up.
There's a couple wild cards. Hey, first, this team is
incredibly sharp. So like they're not just going
to drop this token and and have no other surprises, right?
We've got abstract mainnet coming in January.
I'd be shocked if there's not some type of Pingu tie in to
that. And I don't I don't know.
We just haven't we don't have any announcements yet.
We don't have any other new news about this token.
I think that's all in front of us and we're just it's going to
be volatile today. The NF TS dumped just just like
we thought they would for the most part, right?
They're back to 18. Anyone who bought is still most
likely up. Even if you bought the top, I
think you're still up or you're or you're damn close.
I think it's a it's, it was a great AirDrop.
It played out exactly how the pre markets had it.
Huge cook. So we have to start taking those
pre markets seriously. If there's a significant volume,
like when you see seven figures, I think you have to at least
take that as an input. 100 percent, 100% anyway, Speaking
of the devil, Speaking of Speaking of the Penguin, Lucas
joining us on spaces Luca, do you want if you want to join on
stream yard, where you also got the I sent you a text with the
with the video link. But can you hear me?
Hold on. Let me see.
Let me text Luca. Yeah.
To hold on, Hold on. There's a lot going on right
now. Holy shit.
This is insane. Dude.
I love this, though. Does she just love the chaos?
It's. It's much better than what it
was. Someone I know bought a pudgy
pig, went off the floor and still had full allocation.
Oh my God. Yeah, don't.
Dude, this wasn't like a snapshot.
Don't sell you like you got to claim your shit first, you know
what I mean? Like a lot of people are
getting, you know, are not paying attention here and and
getting ready. Let's try again.
Luca, can you hear me? I can hear you.
Can you hear me? Let's fucking go, baby.
What's up Luca? How you doing?
Man, I'm in the war room going to war right now.
How's it going back there right now?
Like how you guys feeling? Man, we're feeling, we're
feeling good, but obviously I think from, you know, we're
having some issues with the claim.
I think we've got like 7,000,000 hits in the last, you know, 2
1/2 hours. And so just dealing with that.
So I think that's where a majority of the war room efforts
is is going, but excited to kind of get this this journey going.
I mean, you know, how do you and team feel today?
Like I know, I know it's a lot. I know there's a lot of claim
stuff that you guys are are looking to fix.
But besides that, like, you know, how do you feel about the
launch of all this? I'm I'm I'll be stoked once
everyone, once the once the claim is working perfectly
right. I think up until then still have
a job and still have a have a a mission to kind of execute on.
But until then I'll I'll feel good so.
How? So far go so good but need to
fix that. How are we looking on that,
Luca? Is there anything you can give
us here for the people that are are waiting the claim?
Because I'm assuming a lot of them are in the audience, yeah.
It's just the AP is are being called like crazy and just so
many people. So the, the, the claim
eligibility, if you kind of, I think one of our thoughts was
really distribution and getting as many people into the
ecosystem as possible. I think last time I checked
there was like 160,000 on chain holders.
So like the, the intent is to bring everyone into the huddle,
right? I, I think right now it's just a
matter of being able to load manage that.
And, and we maxed out AWS, maxed out cloud server, basically
everything that you can possibly Max out, we did and it is still
isn't enough. So it kind of expected, but
obviously just need to get it up and running ASAP.
All right, love to hear that and I mean you know that's going to
get fixed. Everybody chill, it's going to
happen. Looks like it's something that's
pretty much out of your control here, Luca.
But what's next now? Like what now?
You know Pengu dropped. Thank you for the Stamie, by the
way, appreciate that that was that was a nice one, not a lie.
So that's dropped job's not finished.
So what's the next job? What's coming next?
We're turning this bad boy into a cultural phenomenon.
I think the, the beauty of this is I think you guys are going to
be able to see a pocket that we've never, you know, we, we've
shown instances of it obviously through the distribution of the
Penguin. But I think this opens up a
whole new window and a whole new door for us to do what I think
we're best at, right? Like I, I've been saying this
for a while. I think we're the best marketing
group in crypto and I think you guys will see this here shortly.
I, I kind of on that note, going to be a little bit further.
I feel like there's this consensus opinion just for NFTS
broadly that once you drop a token, that's it for the NMT
like that, that's the final step.
There's not really anything left after that.
So why would anyone hold it? I'm curious like how would you
respond to that? I think that's still maybe like
APTSD consensus trade. I think if you look at the data,
the data just doesn't reflect that anymore.
So there's moments and obviously people, you know, buying, you
know, selling the news type of thing.
But if you kind of look at the pairing between the meme coin,
you know, the coin and the NFTI think it's the deadliest pairing
for this category out there, right?
Because I, I simply don't think that you're going to be able to
beat, you know, 10,015 thousand, 20,000 people proliferating this
stuff through their profile picture paired with, I think the
deep liquidity of a token. I think it's a recipe for
success. And ultimately it's where I know
all NFTPFP projects are going. And, and I think ultimately the
ones that will succeed are going to be the ones that can turn
this stuff into a cultural phenomenon and turn this into
something that everybody is talking about, that everybody is
enjoying and participating in in some shape, way or form.
And so I think the thesis here was really simple for us.
You know, I explained this maybe weeks ago prior to launch, which
was, you know, we have toys and millions of homes with over 50
billion impressions and views on social.
You know, how do we scale that up in 10X those numbers?
I think it comes down to who is aligned, you know, with the
mission of turning this into something special.
And I think it kind of starts and stops with distribution,
right? And so a huge reason for the
claim size in terms of how many eligible wallets is really for
that reason, which was everyone saw what we were able to do
with, you know, 10,000 holders. What are we going to be able to
do with a million holders or 2 million holders?
And I think this is where things get super exciting and
ultimately, like the market's going to do it, what it's going
to do in the short term. But I think mid to long term,
the future for this company and where I think this Penguin is
going has never been clearer. So obviously, you know, we're in
the war room, got to make sure that people are taking care of,
you know, ultimately, like we have a really high bar for
excellence. You know, no type of, you know,
error is acceptable, but it is what it is.
Some things you just can't physically control.
But yeah, I think I, I think that's kind of how we're looking
at it. And so, you know, I, I'm excited
to get over this little, you know, next couple of days and
really put ourselves in a position to do something that I
think crypto's never seen before.
And I, I think we're the group to do it.
I think we're the community to do it.
I think if you look at the ingredients that this thing has
all things considered it, it, it, it's, it's a different beast
than I think anything that anyone has ever seen.
And obviously we have to show that.
We have to prove, you know, what, that what the potential of
that beast actually looks like. So it's going to take some hard
work. It's going to take, you know,
galvanizing with the community, you know, still, you know,
members of the community they have yet to claim.
So I've got to take care of them first and foremost.
Like that's number one objective right now and over the next
couple of days is making sure, you know, you know, in Faroke's
case, half of the people you know got it.
Half of the people you know, still haven't.
If you're just want to split it down the middle.
So we have to get there. But you know, almost 200,000 on
chain holders in two hours, 2 1/2 hours.
I think it's a testament to you know, where, where you know,
the, the, the plan is working with the exception of, you know,
the error on the claim. So ultimately I think people
will realize that the NFT pairing and the coin pairing
positioned appropriately is going to open up a meta that I
think is going to be extremely exciting.
So we have to prove it though, because I think my vision of
where I think this can go might not be as clear to most.
And it's my job to make it clear.
And I, I want to get in, I want to drill into that a little bit,
but can I just ask like, was this always the master plan to,
to drop that the Pingu token? Or is this something that's kind
of evolved over time? I don't think it.
I don't think it was the master plan, right?
Because, you know, coming into this, I've kind of told the
community that, you know, this is something that wouldn't
happen. And I was kind of stuck in, you
know, again, the 2021-2022, you know, bear market PTSD, which is
like this is the beginning of the end.
But I think over the last 12 months you've seen that this is
actually the beginning of the beginning, right?
And so there's really a multi pronged, you know, funnel here,
if you kind of want to break it down from a funnel perspective,
which is like, OK, millions of toys, millions of products all
over the world and hands of people that enjoy and love them.
You know, social content, impressions, views, community,
you know, all of the things that we do, you know, at the top of
the funnel, at the bottom of the funnel, I think you have the
NFT, the 1st edition, the status symbol within that community,
right? The highest, you know, grailed
item that, you know, reflects that status with the people that
understand the Penguin story and the Penguin lore, right, which
we can get into in a SEC. And then in the middle, I, I
tried to do it through like the toys and the digital wearables,
But the, the problem is, is it comes down to alignment, true
alignment, right? And no matter how many ways you
game it with like open editions and things like that, it doesn't
feel like alignment, right? This is, this is the tool to
align. So it goes, you know, people
seeing it on social, people seeing it out in the street,
people seeing it in homes, you know, then, you know, believing
in the message and, and the story that is the Penguin, you
know, everything that comes with it and, you know, throwing
$10.00 or $100 into some token. And then as they start to grow
some sort of love and affinity for the brand, you know, as they
feel that alignment and, and you know, all the things that come
with that, you know, they begin to participate even more.
And then they're like, well, you know, now this community is my
family now. These are my friends.
These are people that I'm interacting.
I'm spending so much time everyday, you know,
participating in this ecosystem, you know, the ultimate status
symbol, the ultimate form of tribalism, you know, that I can
signal, you know, throughout the digital universe is this profile
picture, right? And so that's kind of how I
think the fun. Like there's, there's probably
things, you know, in the middle there, but I think in layman's
terms, you know, that's how I look at it.
And, and that's ultimately, you know, PFPNFTS, you know, they
are in the community and status symbol business.
Now the the issue is, is I think a lot of people are predicated
on like macro, you know, macro conditions from like a crypto
market perspective or maybe, you know, regular traditional
finance for that status and that Veblen good to yield value.
But I, I actually think that if you have, you know, a million
people in a community, 10 million people in a community,
like what's a Veblen good or a status symbol for people who
don't know that it yields status, right?
And by getting people, you know, aligned alignment is interesting
because they just go down the rabbit hole so much further and
they're so much more passionate that they begin to understand
the story and the profile pictures and all of these
things. So if you actually understand
how they marry and you think about it critically for 5
minutes, you know, the, the, the logical conclusion that you come
to is that they marry extremely well.
And I think we're just kind of programmed to believe that, you
know, again, off of the small case study we've had, you know,
a couple years ago that that that is not the case.
But if you look at the data and run the data of the last 12
months, I think you see a different picture, a picture
where, you know, one uplifts the other, you know, minus any short
term, you know, whatever that looks like over the course of
the mid to long term, they uplift each other in a really
beautiful way. And the data supports that.
So I think this is about like being open minded and, and
understanding that, you know, data is law to a certain degree.
And I think you're either going to do something like this,
right? I, I, I told the I told the team
this, I was like, you're either going to do something like this,
create excitement, create more alignment, create a bigger base.
And if you don't do this right from a PFPNFT perspective, I
think you ultimately fade into a relevancy because the turn
right. If you think about the turn from
an NFT holder base, like there's just so many, so many fine
details that are in, in the in between and then the minutia
that like the turn on the NFT side, it is, it's too, there's,
there's not much that you can do there, you know, outside of, you
know, hoping for, for, you know, some sort of macro thing to
change. I think really from APFPNFT
perspective, especially in a market like today, like your job
is to create excitement, right? Your job is to grow the group,
right? And ultimately, you know, create
moments that deepen that love and affinity for the brands.
And, and ultimately, I just think it's really, we, we've
seen this now and I don't know if it's really been pointed out,
it really just comes down to alignment, right?
Like how aligned are you and how motivated are you to push the
boundaries, right? If you actually look at the
pudgy story, you know, all things considered, I believe,
and you may disagree, but I believe what we've done over the
last two years is incredibly impressive, all things
considered, especially if you look at like our financial
resources and things like that, right?
How we were able to accomplish that was because of the
alignment and the belief of that core community and that core
holder base, right? We were able to move mountains.
In places that we weren't supposed to move mountains in,
right? And, and, and that was because
the nucleus was so strong. So we still have the same
nucleus, right? And, and I would argue that, you
know, as more as, as time goes on, that nucleus only gets
stronger, but it's important that you have a huge base around
that nucleus that understands what that nucleus is about.
And then outside of that base, you have an even bigger base
that is like the toy buyers. It's the, it's the Instagram
followers, the TikTok followers, etcetera.
So if you try to like paint a mental map around it, you know,
the pieces kind of fit together. And I think that's just kind of
my assessment on things. Well, certainly it's an
objective, objectively impressive job that, that you
and the team have done. And, and I agree on the holders.
And again, the, the analogy in my head is the digital Country
Club and it's the big pudgies. It's the little pudgies like it.
It is all of our jobs to to be people that others want the and,
and want to network with want to join our community.
So that is a call to action and I appreciate you saying it.
And I'll do my part to to share that that call out to others as
well, because this is a big way that folks can find that the
pudgy community. I I want to talk on toys a
little bit and Diamond, because you you've talked about how toys
are, you know, a big part of the funnel.
Toys are included in the Pingu Aloe like how, what is the
team's plan? Like how do those toy holders,
how are they going to learn that they can join the huddle?
Is is it going to be social media?
Like what are your thoughts on actually bringing the the
millions of toy holders into the the huddle?
Yeah, so the messaging is really important here and and that's
going to be communicated through Pudgy World, which, you know,
kind of comes alongside abstract main net.
But this idea that I could, you know, redeem I I can't actually
speak to the to the fine details of it because I think it's kind
of a surprise. But you know, if you're
participating in Pudgy World, right?
Let's say I know nothing about crypto and I just buy a toy from
Walmart, right And you go through the flow and you scan
it. It should be evidently clear.
You know what you can do and how you can do with the things you
you scan and and how that kind of ties into the Pangu Ala.
Obviously I've been trying my best to communicate it, but you
know, that stuff isn't common till until abstract maintenance
slide because naturally, you know, the whole pudgy world and
Walmart integration is, you know, predicated on that stack
and no reason to change it. Obviously we've been really
passionate about and been building abstract for the last
six months and I think it's going to play a huge role in
that, in that synergy. So I think it's going to come
down to like interface and how we communicate that.
And, and, and I think we've done a pretty good job of that up
until that, you know, up until this point, you know, to the
best of our ability, you know, over the last couple of years.
But I think, yeah, I, I, I think that conversion is, is going to
have to be clear in that respect.
So, you know, abstract mainnet is in January.
That's going to be a really exciting time.
I think a lot the app shut up myriad a lot of a lot of people
don't really know what we're building there, right?
And I think once you see what we're building there, it's a lot
different lens, right? I, I'm always trying to take a
different lens, one that honestly seems obvious to me,
right? Like the pudgy Penguin, you
know, Playbook, if you want to call it, seemed obvious to me.
I think what you're going to see at abstract is going to seem
obvious to a lot of people. And so I'm excited to, you know,
kind of show that to the rest of the world here shortly.
Speaking of showing, I got a quick video show motherfuckers
on here. Then I want to talk to you about
this exactly, Luca, and how all of this ties in to abstract,
because I think that's something that's really exciting.
That was like the main narrative is like, hey, don't you know, be
careful, you know, getting rid of your Penguin assets because
literally that's the next thing up.
But Sims, why don't you place a little video for them?
Please check it out Myriad the market sign up abstract fan
baby. We have a lot of markets open
for pudgy Penguins. You can win 2 little pudgies
right now and a bunch of other things on there for predicting
around prediction markets based around Penguins.
It looks like a lot of people had had it right so far when it
comes to FDB and everything but Luca, so talk to me, how did
this all tie back into abstract, which is obviously, you know,
the next big play for you guys? It's the secret sauce.
I know, I I've seen some threads and I and people are some people
are getting it right. I think for us, you know, it's,
it's it I can't, I can't, I can't, I can't, I can't, I can't
say I, I can't say with real detail.
I, I really want, I really want a surprise and delight here.
And, and to be frank, I really just want to, you know, right
now I've got a goal. The goal is to make sure that
this Pengu claim is freaking phenomenal.
You know, over the course of the next couple of hours and we get
through all of these, you know, ridiculous D doses and API
things that we're dealing with. And so, you know, I there, there
there will be clarity on that sooner rather than later.
And I think how they marry is super fascinating, right?
Because I think the, the difference between I think the
chain and pengu is, you know, pengu, you are assessing it, you
know, based on its ability to become a cultural phenomenon and
if you believe that or not, right.
And if you believe in the strength of the community and,
and the thesis, right? And I think the chain is really
existing for other people to build in the same spirit that
we've built at Pudgy, right? And, and so, you know, almost
look at, you know, Pudgy as kind of the vertical North star to
kind of show what I think consumer crypto can look like in
its final form. And then look at abstract as
like the horizontal layer in which people can kind of build
on top of that vertical North star, if that makes sense, that
maybe that's a good visual picture for most.
You know, ultimately, I, over the last couple of weeks, I
really came to this conclusion. I think we've got one of the
best groups, right? Obviously, you know, not our,
not our greatest moment with the claim stuff, but you know, I, I,
I think this group, both on the abstract and on the Penguin
side, I think the igloo and its totality is a very special group
of people, one that I think when it's all said and done, will go
in the history books of, of what it is to build in crypto.
I think we're going to set a tone here that is exponentially
different than most. And obviously we have a ton of
so many ways to go, right? Like job is so far from
finished. I'm already committed here to
sign up for the next 1520 years. Like this is this is the end
game for me. And, and I want us to be, you
know, cryptos, consumer conglomerate.
I want to own consumer, I want to own culture.
I want to own to the best of my ability, you know, what it looks
like to build and nurture a community in the space.
And I think that's one of the excitements around pudgy, right?
I, I, you'd be really hard pressed and I might be biased,
but I think everyone would assume like there's really no,
even if you're a pessimist, like there's no three better
communities than this. It's so diverse, it's so
universal. It, it, it goes to every region.
People in Asia understand pengu and pudgy Penguins.
People in America understand it. And it's like, how can you bring
all that entire melting pot right onto, you know, a layer
that kind of be built on top of and you know, really in the
spirit in which we're building, I've been kind of clear and
abstract. But like, hey, if you're
building the next great D5, you know, protocol, you know, I, I,
you know, there's, I think there's better places to deploy,
right? I'd, I'd probably point you to
bear a chain or probably point you to arbitrum, right, Like
they're more suited for that type of product.
But if you want fun and viral and momentum, right, and, and
consumer adoption, I ultimately think, you know, what we're,
what we've shown at Pudgy, what we're going to show at Tangu,
which I think is going to be the, the best that anyone's ever
seen up until this point. You know, if you want to build
in that spirit, you know, I think I think this will be the
home for you. So I, I think in, in the
simplest terms, without giving details, I'd probably say like
the at the highest level, that's how they marry.
But you know, there's, there's definitely some fine minutiae in
in between the fine print that I think will give more clarity as
January starts to set in. I'm not sure what else holders
or potential holders would want to hear other than that and that
you've got a 15 to 20 year plan to make this just a total crypto
consumer conglomerate. It's a plan that I'm bought in
on. I can't wait to see the team
execute. Met the team again, just coming
away from Art Basel. My take away is this team has
got it on lock and this is a team I want to bet on and I
already had and I wanted to bet deeper and I did that.
I guess. I know you're busy, Luca, you
got to run. I guess any of this last words
for the community or maybe those who have, you know, stuck it out
with you here for a few years on on this big day.
Any final notes? All I can say is if you think
this is all I've got, you got another thing coming.
I think the best of us is yet to come, right?
And for US, timing was so important here because I wanted
to be at the beginning of, of a really special moment in time.
I think when you look at crypto and, and the industry as a whole
from, you know, the legal, you know, the, the, the, you know,
the, the new cabinet that's coming in, and then just the
tone around crypto, I think it's, I think this is the moment
you make history, right? And I think this is the moment
you put you, you, you set your mark in the history books.
And, and I, I know what role we're going to play for the
industry. And I know that nobody can do
that role better than us, right? And so, you know, there's a ton
of talented builders in crypto, all, you know, serving their
purpose to help push the industry forward.
I know what our purpose is, and I think it's going to be a
really exciting time for everybody in the Touchy
ecosystem. There you go, I fucking love it.
Love to see that. Tyler, do you get what you need
at Luca today? I'm ready to run through a brick
wall. Of course you are, dude.
Of course you're Luca. Congratulations, man, That's
that's big, big day. Can't wait for everybody to be
able to claim their Pengu and be part of what's next.
And excited for abstract the I'm hearing things I'm hearing it's
going to be a big one. I appreciate you boss.
I'm going to get back in the war room and make sure all this
stuff is settled there. Yeah, brother. 15 people in here
going, so I'll get back to it. Thank you for the time for rope.
Hi. Man, thanks for coming.
Later. Here's thing.
All right, all right, hang tight.
I know there's 2000 people on here because we are about to
give away. We're about to give away some
money here. So if you go to rafflebot dot
XYZI think we posted it. Yeah, it's pinned at the top
here, Rafflebot dot XYZ. We're doing one of the loot box
spins start to to our partners over here at Real Bit and we're
going to RIP A5000 spins live on air right now on video.
So go to rafflebot.exe, sign up. The code is Pengu P/E NGU.
I'm going to chit chat with the boys here for 2 minutes to give
you guys time to sign up. It's really quick.
So rafflebot dot XYZ, be careful scams.
It's really pinned at the top of the Twitter Spaces right now.
It's right there. Sign up and use Code PENGU P/E
NGUPNGU to sign up and you may have a chance to win a Penguin.
Let me tell you guys, I loaded up that blue box with just
Penguins and then red guys to offset it.
So it's really like just Penguins and red guys.
That's all there is in there. But Mendo, what are your
thoughts here? I mean, you got to hear from
Luke himself directly. How how do you feel after
hearing him on the show? Yeah, he speaks very well.
I agree there's a bit of PSDPSPTSDPTSD after after ape
like people are wary about what to to ask about.
I do think that the that in some ways the Pudgy Penguin brand,
like you said, is, is in some ways like just as strong as ape
was back then. Like I think ape was a little
bit divisive back then and the Baudette community was, whereas
Pudgy doesn't really have that like device divisive bit to it.
Like you don't find people who hate pudgies, right?
And even back then people hated apes like they hated them, which
helps when you're going to bring or like have an inclusive token
like he says to like bring everything together at the same
time. You know, like we just spoke
about the start of the show, like Solana has been, has not
been the easiest place right now.
Like for a token to go to, like if it was to do like a two or
three X from here, It's not that I don't think it can.
I just think that would be very, very against the grain of what's
been going on. But it does feel like they're in
a very good spot though. Yeah, I think so too.
It's it's just, I think it's just a bummer here that people
are having troubles, but it is what it is.
I think we were expecting it, right.
I think it's something that those.
Expectations. I mean, we know this every
single every single mint day is always a fucking disaster.
It's. Always like that, right?
Isn't the worst day Always right as a founder as the actual mint
day. Fuck did you guys break
rafflebot? Oh my God.
Fuck me, dude. They broke the fucking bot.
Sims, can we still run it? It's.
Yeah. Can we still run it?
Oh, you're muted? I'm asking Ty but it's it's got
a time out because of how many people just hit it.
Yeah, it's. Coming.
Really. Wow.
Yeah. I mean that's hilarious.
I mean, in the meantime, make sure you sign up for Marriott
dot Marcus shout to Lucas. We'll be we'll be we announced
that last week at our basil together that we're we're going
to be building myriad markets on on on on abstract.
I'm excited, man, like honestly, like as someone who's like, you
know, with locks, Marcio and everything, like as people have
like had to like make a pic and look at to a lot of L twos, a
lot of different L ones. Obviously like been approached
by a bunch of them. We decided to go with these guys
because honestly, like obviously, like Luca is really
good storyteller. He's good at speaking right,
like every team. You hear him speak like fuck,
like I can't be more bullish, but also like genuinely the team
around it, right. Like I saw Mungo at some point
was trying to come up shave and they have like a bunch of really
like SIGAR like their tech team also is like actually proper
like it's really, really, really good quality team.
And I know that because that's what the teams reported back to
me ever said take care of nothing on tech side behind the
scenes, but they're just good and they just care and and
they've done us well. So if you go sign up.
So while the raffle bus broken dude, y'all should be signing up
to this and you don't even need a Penguin to do so, but sign up.
And then if you have a Penguin or a little Penguin, it just so
happens that you get even more points.
So Marriott dot markets, MIMIRIAD dot markets.
If you connect your wallet, you can claim 2000 points per pudgy
Penguin up to 10,000 points, 200 points per little pudgy, and
then you can do a bunch of different quests and also put
your market. So let's get some of those
markets here. I actually curious what you guys
think, Mendo and Tyler, the latest market that they put up
there was will Pangu market cap reach $7 billion by end of year,
yes or no? What do you guys think?
Tyler's yes. Minor.
What do you think? I think it's highly likely to
happen too. I like that.
I think so as well.
I think like obviously you have like a lot of people frustrated
are going to like rush to dump here when they can claim because
they're just unhappy with the claim process.
And a lot of people also were planning on dumping because at
the end of the days, life changing money for a lot of
people today, like a lot of people today, like we minted a
few millionaires today, right? So I think it's normal, but I
would not be surprised if we see like a pump back up above 7
billion will Pudgy Penguins floor.
And I'm curious to see what you guys think in the comments.
So keep typing while we fix this raffle button.
Let's see who winds up potentially pudgy Penguin right
now. Will Pudgy Penguins floor stay
higher than Bitcoin by January 10th?
Because. We're lower now, right?
Like what's the pudgy? For what's?
Bitcoin 30 is Bitcoin 30 ETH. Yeah, yeah, you're right.
Right. Bitcoin's one O 6 right now.
Oh, it's less than that. It's like 27 or something.
It's about 27, yeah. OK.
Yeah, I know. I don't think it's on that one.
That's tougher because. You have abstract coming though.
He has another catalyst, literally.
Abstract is big catalyst. I think they'll go over 27.
January 10th is a tight window. That's like a three-week window.
So. Specific window is tough, but
yeah, I'm I'll take I'll take yes on.
This but you have the inauguration pump on the way
right like pre inauguration pump like Bitcoin here is not going
to be a one O 6 right You got to think.
My big pudgy ping with comments and his inaugural address.
Yeah, Baron. Baron is fucking bidding, dude.
Baron is bidding. OK, so you guys are on the on
the yes side. I don't know, I don't want to
say no, but I don't know this one so far it looks like, you
know, people heavily favoring the the no, but we'll see.
Let's see what what other markets are there in there?
Where will mark the Penguin market cap?
And I mean that was that was a little weak.
I think obviously it's going to be above 1 billion here.
And then you have a bunch of yeah, we'll we'll hit over a
billion. Yeah, I mean, yeah, I mean,
let's look at the statistics a little bit here.
We have 201,000 holders. Wow.
So that's that's pretty wild. 350 million in volume.
Wow, $350 million of volume and it's that's just on decks,
right? It's just one pool, so it's
closer to 500 million. Wow, I wonder how much volume
it's doing right now on on Nance and stuff.
Right, because it's live on Nance by bit and everything.
If you pull up the like the meme board on coin market cap, you
got a new joiner. It's already in there.
Already. Geez 8. 130 million in volume.
It's been live for three hours. Wow, that's very, very high.
Wow, wow, the code word is Pengu P/E NGU OK, looks like it's
looks like the the site is working again.
Pengu P/E U P/E NGU. What do y'all think in the
audience? I mean, you know what, don't
tell us what you think. Sign up to me at markets and go
predict and get your points. USDC markets will be live on
abstract whenever abstract main Nets, they don't want to spill
too many beans here, but it's it's going to be a big one.
It's going to be a good one. So definitely excited.