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And it's a. 
Beautiful day. 

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Have a beautiful day, GM GM On 
this beautiful day. 

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Good morning. 
Two and three with Baroco San 

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Fernando. 
In it's. 

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All on the road radio. 
It's a beautiful day. 

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Have a beautiful day. 
GM. 

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GM. 
Rock Radio Well GM everyone, 

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this is a new week. 
New show, new hosts. 

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Farokas in Korea, OSF is in 
Vancouver. 

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I've replaced them both with 
much better versions. 

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We're joined today by Mika. 
Mika obviously has been a Co 

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host for a few of the different 
shows so far. 

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She's now gonna be a takeover 
this week. 

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For the whole week and we have 
cows who's one of the Co Co 

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founders actually of Canary labs
and I'm saying OSF and I thought

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he was just a better version of 
OSF to have for the week. 

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So new panel that we have come 
join us on YouTube. 

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I'm gonna pin the link in a 
minute but yeah we're gonna be 

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on. 
I think you're breaking up 

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already Mika. 
Not a great start. 

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Can you? 
Is that she breaking up for you 

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as well? 
Cows. 

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Yeah, Signal's not great, not 
great. 

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Start to the takeover week. 
The Takeover Week starts, and it

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looks like Mika is already down.
So no, no, it's gotten even 

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worse. 
I think you're gonna have to 

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leave and come back, Mika. 
I think your Wi-Fi is gone. 

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Your big reveal is failing on 
us. 

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So, yeah, look, we're going to 
have a fun week. 

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Mika's obviously going to bring 
some energy. 

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I think she's in New York. 
She's not actually even at home.

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She's so she's on a budget. 
New York Wi-Fi, you have to 

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assume probably two or three 
star at this rate. 

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So yeah, it's just going to be, 
it's just going to be me, you 

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and Callie for the week. 
How you doing, Callie? 

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I mean, a bit of an intro. 
You're a step up because I don't

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think anyone really knows who 
the hell you are, even though 

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you are quite a integral member 
of of of our organization, let's

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put it that way. 
Yeah, I was trying to think 

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what's like the best intro I and
I came up with. 

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I'm the Steve Ballmer of Canary 
Labs. 

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Like you and OSF are basically 
the Bill Gates, the front of 

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house famous guy. 
And I'm just the weirdo sweating

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on stage like shouting 
developers, developers, 

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developers. 
Well, I Wozniak, Steve Jobs, I 

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feel like. 
Although I think Wozniak is even

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less kind of suave and charming 
than Steve Ballmer, if that's 

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possible. 
Apologies if he's like an an on 

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in web three and listening right
now. 

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The great thing about this show 
is. 

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Most people don't watch it on 
YouTube, so no one will actually

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know that you're not OSF. 
They'll just TuneIn and they'll 

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assume that you're OSF, so 
they'll hear the English accent 

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and assume it's exactly the same
guy. 

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There's not much difference. 
So yeah, you're the key, you're 

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the key friend in the middle. 
But it's actually, I think, 

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surprised to you about how 
basically we're the same person.

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I think all three of us people 
assume it's the same person. 

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Because when when like OSF just 
gets away with not saying 

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anything for the whole show. 
Basically and and. 

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Yeah, I always know it. 
Because whenever we do giveaways

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and shit, people just come into 
my DMS asking, asking me when 

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it's been. 
When it's been OSF. 

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I'm slightly more opinionated 
than OSF, so I might have 

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something a bit more to say. 
Maybe, but maybe not be more. 

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Opinionated than OSF like 100 
the other thing. 

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Which made me the other thing 
which made me more comfortable 

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about accepting coming on the 
show and and filling such big 

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shoes was that this like, I 
think a lot of people would be 

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surprised, but our kind of team 
meetings, I like daily meetings 

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are basically the show like just
talking about loads of stuff and

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arguing about it basically and 
learning along the way, I guess.

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So it's not too different from 
like a normal Canary Labs 

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morning meeting I think. 
Yeah, and I would say me and you

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argue a lot more than me and the
other staff is not listening. 

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So as you said, that's a sign of
good friendship. 

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If you can disagree with them 
strongly and still move forward 

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and then not falling out, then 
that's good. 

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That's what we tell each other, 
yeah, yeah. 

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I feel bad for Mika because I I 
feel as though this was a big, 

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big moment. 
She's hyping up her community 

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all over the weekend and then 
she's she's checked herself into

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a two star hotel and failed to 
get the the high speed Wi-Fi. 

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So it might be me and you first 
thought, look we're going to do 

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a slightly different format 
today. 

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We normally do a show where it 
gets thrown to OSF, it gets 

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thrown to to myself and then we 
normally do like a discussion 

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and a bit more. 
We're actually going to do a 

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slightly shorter show. 
It's probably going to be half 

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an hour to 45 minutes. 
We are just going to go through 

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the main things of each day. 
It's going to be following a 

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little bit more of the Mando 
minutes that I've been pushing. 

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I don't know if anyone's seen it
on a daily basis and we're going

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to try and use that as the as 
the basis for the show. 

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The first thing to to mention 
though today is today's show and

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for the majority of the of the 
month I think is sponsored by 

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Kraken. 
Kraken is obviously making a big

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push in the NFT space. 
I don't know if you saw over the

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weekend, but someone wanted 
Tesla with with the D Gold Point

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system that's all powered by 
Kraken NFT marketplace. 

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They're going to be running out 
a much bigger marketplace which 

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people can be trading on blur 
and open sea all slipping over 

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their own toes at the moment. 
So I think Kraken could have a 

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good push here. 
They are going to be powering 

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the show and. 
I think, I think even when Farok

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comes back and I think there's 
some cool even activations 

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Cracking are involved in F1 in a
big way there could be some fun 

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stuff coming in the future. 
So yeah cracking is the is our 

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host today and thank you for for
that. 

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Should we wait for Mika, or 
should we just push you on Phil?

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She says she's back. 
She says she's back. 

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She's back. 
Wow. 

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What? 
What an entrance. 

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They don't want the Mika take 
over. 

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Are we back? 
Can you? 

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I think we're back. 
The frustrating thing about this

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platform is it works for half an
hour like we were in the studio 

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for what, 15 minutes before the 
show? 

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Just getting. 
Like you. 

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Know and then it just breaks as 
soon as you go on. 

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So I normally get the blame for 
this because everyone says, you 

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know, that I was born in the 
Stone Age and that is true. 

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But at the same time, this 
platform is terrible. 

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It kills me and I know. 
You're going to lead us to 

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Valhalla, OK? 
Because we're in the game. 

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They didn't want the takeover. 
You wanna know why? 

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It's because you said I was a 
better version of either Farok 

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or OSF. 
Yeah. 

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He just pulled the rope, he took
the his energy and he was just 

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like. 
I'm joking, but yeah, no, I'm 

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happy to be here. 
You guys are doing a great. 

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I'm excited, Guys, it's gonna be
absolutely fantastic. 

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Actually, the intro had me 
laughing because I thought the 

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coffee pouring was like it 
sounded like pee. 

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It made me wanna pee. 
OK, I'm eating. 

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I wasn't thinking the same 
thing, but but yeah, it's good 

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to know. 
For it's you realize how many 

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FEROC references there are, and 
none about me and me and OSF 

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during that that intro. 
I realize when he's not here, 

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it's just kind of awkward, but 
wherever I taught you why? 

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Why? 
It looks like you shut the 

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blinds and gone to bed at what 
must be the. 

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You have to stop. 
You have to stop at the 

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background. 
Listen, I'm in the meta, OK? 

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Don't even worry about where I'm
at, Mando. 

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Listen. 
Usually I feel like you're a 

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figment of my imagination 
because you are in somewhere. 

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God. 
So anybody should be talking 

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about where somebody. 
It shouldn't be you, OK? 

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Because every single show, every
single show, you're in some like

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you're on a train. 
You're like, I don't know, it's 

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00:07:53,600 --> 00:07:56,440
like, it's a bird, it's a plane.
It's like, where is this man? 

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But no matter what you're 
talking about Mando's minutes 

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and I'm getting the update. 
So we love the dedication. 

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And for those that are like, oh,
it's Labor Day weekend. 

156
00:08:05,440 --> 00:08:07,720
Yeah, you know what, Break 
radios, Karen, you want your 

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backs. 
So let's go. 

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What better way to start the day
obviously with this. 

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With this. 
With these updates like Mando, 

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your minutes are just so 
fantastic. 

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I hardly understand them, so 
that's why I can't wait to get 

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into them. 
I'm hearing, I'm hearing. 

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Apparently no one can understand
them. 

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I put the links up. 
That's why I create the website,

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everything. 
Anyway, we're gonna go into 

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them. 
We're gonna top five things at 

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the weekend. 
I think that would be a fun a 

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fun way to to to basically 
structure the show a little bit 

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different. 
We hope you guys engage with it 

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a bit more and maybe a little 
bit shorter because I know this 

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is Labor Day weekend. 
So the first thing we're going 

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to talk about I don't know if 
you guys saw this but NF T's got

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cancelled again over the 
weekend. 

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There was a a lot of a lot of. 
I run a Hooray over the on 

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Sunday that Mister Beast had 
started a project called Creator

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League which is. 
It's involved in egaming. 

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It's basically like an 
interactive egaming league where

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you can choose who to back in 
the league, whose whose teams to

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be part of the different games 
and they signed up 8 pretty big 

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gamers streamers for different 
challenges. 

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00:09:11,230 --> 00:09:13,150
Mr. Beast was pushing him with 
latest video. 

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You also get like a box of his 
festivals things. 

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00:09:17,150 --> 00:09:19,830
If you're probably wanting to 
create league passes anyway, it 

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turns out that they're using NFT
technology. 

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00:09:23,470 --> 00:09:28,390
And it wasn't mentioned anywhere
on the on the website. 

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In fact, I think it's very, very
difficult to work out that NFT's

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were involved in this at all 
other than I think somewhere in 

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the terms of service it related 
back to an NFT company. 

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But then some someone found out 
basically some thread or or some

190
00:09:44,910 --> 00:09:47,790
sleuth found out that this was 
backed by NFT's. 

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00:09:48,070 --> 00:09:51,710
This was the classic case of 
don't mention their NFT's mass 

192
00:09:51,710 --> 00:09:55,280
adoption. 
And one of the gamers found out,

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00:09:55,560 --> 00:09:58,880
and obviously obviously there's 
been a lot of bad press about 

194
00:09:59,240 --> 00:10:04,840
NFTS and gaming, all the P to E 
blow ups, all the crypto zoos, 

195
00:10:04,840 --> 00:10:08,000
scams that it's just it's got 
bad reputation and one of the 

196
00:10:08,000 --> 00:10:10,400
main gamers. 
Maybe I'll share my screen. 

197
00:10:11,760 --> 00:10:16,320
So we can go in, We can get the 
visuals. 

198
00:10:16,320 --> 00:10:19,240
Ooh, Juicy. 
Miss, can you see that now? 

199
00:10:20,960 --> 00:10:23,370
No, not yet. 
It's coming. 

200
00:10:23,370 --> 00:10:25,690
It's a coming. 
There we go. 

201
00:10:26,250 --> 00:10:26,850
There we go. 
So. 

202
00:10:26,850 --> 00:10:28,890
Yeah, I think I put it creates a
league here. 

203
00:10:28,890 --> 00:10:37,130
Can you guys see that? 
So it was C Dog, VA who's like 

204
00:10:37,130 --> 00:10:44,130
this Welsh gamer tweeted out, 
saying I was not aware that NFCS

205
00:10:44,130 --> 00:10:47,330
were involved. 
Given my vocal hatred of such 

206
00:10:47,330 --> 00:10:50,250
tech, I would never agree to 
join had I known that. 

207
00:10:50,800 --> 00:10:53,680
It's an embarrassing fuck up on 
my part to agree to evoke this 

208
00:10:54,120 --> 00:10:57,480
to the my audience. 
I'm sorry, How can you say that 

209
00:10:57,520 --> 00:10:58,880
you hate? 
That's like saying I hate 

210
00:10:58,880 --> 00:11:00,440
computers or I hate the 
Internet. 

211
00:11:00,440 --> 00:11:05,600
I love this guy. 
I love this guy. 

212
00:11:07,640 --> 00:11:10,000
I love this guy. 
This is hilarious. 

213
00:11:10,000 --> 00:11:13,390
It's like. 
I love when people just don't 

214
00:11:13,390 --> 00:11:17,230
understand anything, but like, 
they're mean about it. 

215
00:11:17,230 --> 00:11:19,030
So it's just like, wow, you 
really like. 

216
00:11:19,030 --> 00:11:20,830
You just don't get it. 
You know what I mean? 

217
00:11:20,830 --> 00:11:22,550
Like you really don't get the 
technology. 

218
00:11:22,550 --> 00:11:25,470
Yeah, there we go. 
Wait, should we, like, read it 

219
00:11:25,470 --> 00:11:26,550
out? 
I think that's. 

220
00:11:26,550 --> 00:11:27,950
Kind of, yeah. 
You can read the whole thing, 

221
00:11:28,030 --> 00:11:30,670
but like what? 
It was interesting to read the 

222
00:11:30,670 --> 00:11:32,750
the comments. 
Actually Zach XBT for that 

223
00:11:32,750 --> 00:11:36,510
comment saying NFD people in 
comments crying. 

224
00:11:37,040 --> 00:11:40,080
But maybe take a step back and 
realize the vast majority have 

225
00:11:40,080 --> 00:11:41,960
been straight up scams or 
gryphs. 

226
00:11:42,440 --> 00:11:45,240
You can't blame influencers for 
disliking them at this point 

227
00:11:45,560 --> 00:11:49,600
when that's when that's what 
mostly they have been exposed 

228
00:11:49,600 --> 00:11:51,600
to. 
What do you think of that to 

229
00:11:51,600 --> 00:11:53,760
take? 
That's what I can say. 

230
00:11:53,800 --> 00:12:00,790
Again, I just feel like you 
could say I hate banks because 

231
00:12:00,830 --> 00:12:04,830
all of the scam calls that I got
in like the 90s were all people 

232
00:12:04,830 --> 00:12:08,150
pretending to be banks. 
Like people will scam and grift 

233
00:12:08,150 --> 00:12:11,190
whatever technology is like 
that. 

234
00:12:11,190 --> 00:12:14,110
And wherever there's money and 
wherever there's kind of dumb 

235
00:12:14,110 --> 00:12:17,070
money. 
I guess his point is good, but I

236
00:12:17,070 --> 00:12:20,750
don't know if it's like smart. 
Does that make sense? 

237
00:12:21,230 --> 00:12:25,930
Yeah, what do you think? 
It it it's very, I don't know. 

238
00:12:25,930 --> 00:12:30,530
It's like I've seen, I've heard 
actually, you know so many scams

239
00:12:30,530 --> 00:12:34,130
with like PayPal or just like 
e-mail and so and you don't see 

240
00:12:34,130 --> 00:12:37,570
anybody being like, oh, emails 
are scam or PayPal there's a 

241
00:12:37,570 --> 00:12:39,610
scam. 
You know, it's just like the 

242
00:12:39,650 --> 00:12:42,330
scam emails. 
Totally 100%. 

243
00:12:43,250 --> 00:12:46,530
Like, what about what about the 
Nigerian print situation? 

244
00:12:46,530 --> 00:12:48,570
Like what? 
You know that happens all 

245
00:12:48,570 --> 00:12:51,210
through e-mail. 
You know, like it happens that 

246
00:12:51,210 --> 00:12:52,210
real. 
They're all my friends. 

247
00:12:53,240 --> 00:12:55,680
The people What about Instagram 
scams? 

248
00:12:56,000 --> 00:12:59,960
Can we just reel it back and 
talk about Instagram scams? 

249
00:12:59,960 --> 00:13:03,880
Like, the amount of people 
scamming on Instagram is insane.

250
00:13:03,880 --> 00:13:06,560
Do you see everybody? 
Like, Instagram is just, I mean 

251
00:13:06,560 --> 00:13:08,400
some people, but not really, 
right? 

252
00:13:08,400 --> 00:13:12,480
So it's just it's it is sad 
because I see like some friends 

253
00:13:12,480 --> 00:13:15,040
of mine actually writing to me 
now saying like, oh, Mika, you 

254
00:13:15,040 --> 00:13:18,600
know, I used to watch this 
creator, what's his name? 

255
00:13:18,720 --> 00:13:21,420
Scroll up a bit. 
I see. 

256
00:13:21,580 --> 00:13:23,100
I don't know. 
I didn't know him. 

257
00:13:23,100 --> 00:13:24,060
I mean, I'm not. 
Maybe. 

258
00:13:24,060 --> 00:13:26,260
In the apparently apparently 
he's popular. 

259
00:13:26,260 --> 00:13:28,660
It's just like no one has a 
sound. 

260
00:13:28,660 --> 00:13:31,860
It's so sad. 
It's so sad that this technology

261
00:13:31,860 --> 00:13:34,740
that's did you just give him a 
follow? 

262
00:13:35,340 --> 00:13:37,100
I know I wanna see what he says.
I wanna see what he says. 

263
00:13:38,140 --> 00:13:41,700
My God, you live for the juice. 
I mean, you are like a. 

264
00:13:42,770 --> 00:13:45,210
Podcast I follow everyone. 
I follow all the haters poorly. 

265
00:13:45,210 --> 00:13:46,530
I follow as well. 
Why not? 

266
00:13:48,650 --> 00:13:49,370
God. 
Yo. 

267
00:13:49,410 --> 00:13:51,970
OK. 
I wanna be on, like, Mando 

268
00:13:51,970 --> 00:13:54,290
level. 
Like, I want, like, no one to 

269
00:13:54,610 --> 00:13:56,250
even just bother me at this 
point. 

270
00:13:56,450 --> 00:13:59,570
Listen, are you sponsored by 
Kraken? 

271
00:13:59,610 --> 00:14:00,970
No. 
See, Connor? 

272
00:14:01,010 --> 00:14:04,010
OK, No. 
So get out of here, all right? 

273
00:14:04,970 --> 00:14:09,770
It is kind of wild, like, I 
think I agree wholeheartedly 

274
00:14:09,770 --> 00:14:12,480
what you're saying like. 
But if this wasn't stored, let's

275
00:14:12,560 --> 00:14:14,840
just break this down. 
Like blockchain is just a public

276
00:14:14,840 --> 00:14:19,720
Ledger of transactions. 
If this wasn't stored on 

277
00:14:19,720 --> 00:14:23,800
blockchain, it would be stored 
on some private Ledger run by 

278
00:14:24,360 --> 00:14:28,760
AWS or I don't know whoever else
the fact that this person has 

279
00:14:28,760 --> 00:14:31,020
such. 
A ridiculous reaction to this 

280
00:14:31,020 --> 00:14:34,220
being a public Ledger which 
could therefore then be traded 

281
00:14:34,220 --> 00:14:38,220
or sold versus a private Ledger 
which is just inside like an by.

282
00:14:38,220 --> 00:14:42,180
No, like normal gaming ledgers 
or like an A WS server is 

283
00:14:42,220 --> 00:14:46,420
absolutely not to have this sort
of reaction, but it just shows 

284
00:14:46,420 --> 00:14:49,940
you the situation that we're in 
like we are. 

285
00:14:49,980 --> 00:14:53,460
We are fighting what I think 
it's just like it's not 

286
00:14:53,460 --> 00:14:56,820
necessarily a losing battle, but
it's a battle where people are 

287
00:14:56,820 --> 00:14:59,350
just apathetic. 
There is no reason for someone 

288
00:14:59,350 --> 00:15:04,310
to change their view on NF T's 
and it has such a bad rap in the

289
00:15:04,310 --> 00:15:08,590
gaming community that all are 
talking about you know, you know

290
00:15:08,590 --> 00:15:12,510
blockchain game is going to be 
the big thing 2024-2025. 

291
00:15:12,510 --> 00:15:17,470
Like it is dire at this stage. 
Like whenever any gaming company

292
00:15:17,470 --> 00:15:19,110
mentions they're doing NF T's, 
they basically have to 

293
00:15:19,110 --> 00:15:20,630
backtrack. 
They have to. 

294
00:15:20,630 --> 00:15:24,510
Even when they try and do it 
secretly, they have to deal with

295
00:15:24,510 --> 00:15:27,780
this sort of stuff. 
It's just got such a bad breath 

296
00:15:29,020 --> 00:15:31,620
and even though we can all agree
that the technology is valuable 

297
00:15:31,620 --> 00:15:33,940
to these people, I just don't 
even know. 

298
00:15:34,180 --> 00:15:37,180
This feels like this isn't going
to be solved and you can't just 

299
00:15:37,180 --> 00:15:41,100
change someone's mind on this 
technology in in in months. 

300
00:15:41,180 --> 00:15:44,100
This might take years to repair 
the damage. 

301
00:15:44,100 --> 00:15:45,660
I think this has already 
happened in the blockchain 

302
00:15:45,660 --> 00:15:47,420
gaming space. 
Like, this person is not going 

303
00:15:47,420 --> 00:15:50,020
to change his mind no matter how
much you reason with him and 

304
00:15:50,020 --> 00:15:52,420
tell him that he's, you know, 
this is just technology. 

305
00:15:52,420 --> 00:15:55,970
You're like, I mean. 
Unless he's given a big bag by 

306
00:15:55,970 --> 00:15:58,050
Vista Beast, which he might be. 
He said he might. 

307
00:15:58,170 --> 00:15:59,570
He said he was looking to pull 
out. 

308
00:15:59,690 --> 00:16:01,850
Who knows if he changed his mind
because? 

309
00:16:02,850 --> 00:16:06,770
It's hilarious because he says I
accepted to join the Creator 

310
00:16:06,770 --> 00:16:09,250
League, not fully understanding 
the tech behind it. 

311
00:16:09,250 --> 00:16:12,090
Buddy, you don't understand the 
tech now. 

312
00:16:12,610 --> 00:16:14,570
You don't understand the tech 
now because if you did, you 

313
00:16:14,570 --> 00:16:15,930
wouldn't be having this 
reaction. 

314
00:16:16,330 --> 00:16:18,530
It's really sad. 
I agree with you. 

315
00:16:18,530 --> 00:16:21,840
I don't know why. 
The gaming community is so 

316
00:16:21,840 --> 00:16:26,120
against NFT technology I I 
really don't understand it. 

317
00:16:26,280 --> 00:16:31,040
I feel like one of the coolest 
utilities would be able to like 

318
00:16:31,680 --> 00:16:34,760
gamers being able to trade their
assets. 

319
00:16:34,760 --> 00:16:37,960
You know, people spend so many 
hours grinding games. 

320
00:16:38,160 --> 00:16:39,760
Like why? 
Why? 

321
00:16:39,800 --> 00:16:42,520
You know, can't that be done 
with with NFTI? 

322
00:16:42,520 --> 00:16:44,360
Don't know. 
It just makes the most, it makes

323
00:16:44,360 --> 00:16:46,200
the most sense in the gaming 
community. 

324
00:16:46,680 --> 00:16:49,180
So it's. 
It's really interesting and like

325
00:16:49,180 --> 00:16:52,900
you said, it really is just 
blockchain technology is just a 

326
00:16:52,900 --> 00:16:57,100
verification method and it's 
public and it's for the people 

327
00:16:57,100 --> 00:17:00,100
and I don't understand why 
someone would be so against 

328
00:17:00,220 --> 00:17:05,660
that. 
Yeah, I mean, I agree with you, 

329
00:17:06,060 --> 00:17:08,579
but I just feel like all this 
says to me is that I think we're

330
00:17:08,579 --> 00:17:11,380
gonna be a few more years before
gaming becomes that next thing. 

331
00:17:11,460 --> 00:17:15,180
Like even if we try and backdoor
it in this sort of way. 

332
00:17:15,180 --> 00:17:16,579
Like when you have reactions 
like this. 

333
00:17:17,250 --> 00:17:19,089
And people will just get behind 
these sort of things because 

334
00:17:19,089 --> 00:17:22,130
he's popular and gaming is so 
often driven by these sort of 

335
00:17:22,210 --> 00:17:24,410
like influences. 
It's like a lot of culture is. 

336
00:17:24,890 --> 00:17:27,250
It's just tough. 
It's gonna be an uphill battle. 

337
00:17:27,250 --> 00:17:29,650
Like, if I'm running a gaming 
company right now, right now, 

338
00:17:29,650 --> 00:17:33,450
and I see that it's it's 
definitely like, oh God, like 

339
00:17:33,450 --> 00:17:34,370
this is gonna be. 
A tough stuff. 

340
00:17:34,570 --> 00:17:35,970
It's not good. 
It's not good. 

341
00:17:36,050 --> 00:17:39,610
I mean, even, you know, friends 
of mine are saying, oh, like 

342
00:17:39,610 --> 00:17:43,050
chat, saying he lives in Japan 
and makes videos with PewDiePie 

343
00:17:43,050 --> 00:17:45,010
and stuff. 
And obviously, you know, we know

344
00:17:45,010 --> 00:17:48,210
PewDiePie, so you know, yeah. 
It's definitely not good. 

345
00:17:48,210 --> 00:17:51,650
It also has like 2.5 million, 
two point, whatever, 9 million 

346
00:17:51,650 --> 00:17:54,170
views. 
It's good, not great. 

347
00:17:54,210 --> 00:17:57,610
Yeah, it's like we could sit 
here and be like they don't get 

348
00:17:57,610 --> 00:18:00,770
it. 
But I think, like, usually 

349
00:18:00,770 --> 00:18:02,850
people don't get great things 
like this. 

350
00:18:02,850 --> 00:18:05,930
But I agree with you Mando, it's
gonna be a long time. 

351
00:18:06,480 --> 00:18:08,560
Maybe. 
I think. 

352
00:18:08,800 --> 00:18:12,800
I think people's attitudes 
soften when they see the value. 

353
00:18:12,800 --> 00:18:15,440
And the great thing about Nfc's 
is that you see the value very 

354
00:18:15,600 --> 00:18:18,960
like relatively early on because
you trade something and you make

355
00:18:18,960 --> 00:18:22,640
money and that feels good or you
own something that you've wanted

356
00:18:22,640 --> 00:18:25,000
for ages and you can own it 
digitally and you actually do 

357
00:18:25,000 --> 00:18:28,480
get the feeling of ownership 
rather than the feeling of I 

358
00:18:28,480 --> 00:18:30,840
just bought this thing which 
isn't mine. 

359
00:18:30,840 --> 00:18:34,090
I I think those two things are 
powerful emotions which and 

360
00:18:34,090 --> 00:18:36,370
powerful emotion to change 
people's minds quickly. 

361
00:18:36,810 --> 00:18:39,410
Yeah, the best thing to happen 
right now would be this would be

362
00:18:39,410 --> 00:18:41,850
a big success. 
This actually whole thing ended 

363
00:18:41,850 --> 00:18:43,970
up being a big success and never
had a good experience with it. 

364
00:18:44,530 --> 00:18:47,290
And then maybe that would go 
some way to changing the key. 

365
00:18:47,530 --> 00:18:49,570
But anyway, I think that was 
interesting. 

366
00:18:50,570 --> 00:18:52,650
I know since he was our 
producer, it's big in gaming as 

367
00:18:52,650 --> 00:18:56,890
well and I don't know like not 
not maybe the best headline for 

368
00:18:56,890 --> 00:18:59,290
the anti space, but definitely 
hopefully one we can recover 

369
00:18:59,290 --> 00:19:01,770
from. 
The second thing to note. 

370
00:19:02,240 --> 00:19:04,360
Over the weekend was what's been
going on FTX. 

371
00:19:04,360 --> 00:19:06,360
So there's a few headlines over 
the weekend about FTX. 

372
00:19:07,080 --> 00:19:11,480
The first one was the ex CEO Sam
Tribuco. 

373
00:19:12,000 --> 00:19:15,000
He bought a yacht with with 
customer funds. 

374
00:19:15,000 --> 00:19:19,480
It looks like he spent two and a
half million dollars of funds on

375
00:19:19,480 --> 00:19:22,360
a yacht. 
I think that up on Mando minutes

376
00:19:22,360 --> 00:19:25,640
in a second, which wasn't again,
not a great headline. 

377
00:19:25,640 --> 00:19:30,540
I feel for the space, but let me
just Was it with consumer funds 

378
00:19:30,540 --> 00:19:31,220
or was that it? 
Was it? 

379
00:19:31,420 --> 00:19:32,380
Was it? 
Was they? 

380
00:19:32,940 --> 00:19:35,900
Took loans to do it. 
They took loans to, they took 

381
00:19:35,940 --> 00:19:36,900
public knowledge. 
I think. 

382
00:19:38,340 --> 00:19:40,700
I think people knew that he had 
bought boat, right? 

383
00:19:41,980 --> 00:19:45,940
I think people knew that maybe 
Sam had sorry, like SPF but not 

384
00:19:46,340 --> 00:19:54,100
tobuco. 
There's already a book. 

385
00:19:47,540 --> 00:19:50,900
Anyway, I think someone's gonna 
make a movie out of this stuff, 

386
00:19:50,900 --> 00:19:52,860
right? 
It's that's fucking. 

387
00:19:55,170 --> 00:19:57,490
Yeah, I went to. 
I went to Barnes and Nobles the 

388
00:19:57,490 --> 00:20:00,370
other day and I saw like, you 
know, SPF, but there were some 

389
00:20:00,370 --> 00:20:04,090
weird books, I gotta say, like 
the trending 2023 books at 

390
00:20:04,090 --> 00:20:05,850
Barnes and Nobles. 
Very scary. 

391
00:20:06,010 --> 00:20:08,850
It's like how to your employer? 
Like, it's weird. 

392
00:20:08,850 --> 00:20:10,730
It's not. 
I've been taking notes. 

393
00:20:11,490 --> 00:20:13,370
No, I'm joking. 
I don't even know. 

394
00:20:14,590 --> 00:20:18,590
Redacted bit was but I I assume 
it's something good but it's 

395
00:20:18,590 --> 00:20:21,390
either kill or fuck and even 
those would be interesting 

396
00:20:21,470 --> 00:20:27,790
books. 
Anyway. 

397
00:20:28,430 --> 00:20:30,710
Yeah, the other headline that 
came over the weekend is that 

398
00:20:30,710 --> 00:20:33,470
their their wallet, their old 
coin wallet is on the move. 

399
00:20:33,590 --> 00:20:36,590
So it looks like they have 
hundreds of millions of dollars 

400
00:20:36,590 --> 00:20:42,660
which they have given to Galaxy 
Digital to to try and sell and 

401
00:20:42,660 --> 00:20:46,220
it looks like the vast majority 
of those funds, at least the non

402
00:20:46,220 --> 00:20:47,860
Bitcoin and each bits looks like
the Bitcoin. 

403
00:20:47,860 --> 00:20:49,260
Each bits. 
They might look like steak or 

404
00:20:49,260 --> 00:20:52,300
hedge, they said but it looks 
like they are going to try and 

405
00:20:52,300 --> 00:20:58,100
sell the majority of the alts. 
They have over $1.5 billion of 

406
00:20:58,100 --> 00:21:02,100
Solana that they are going to 
sell and they. 

407
00:21:02,220 --> 00:21:04,820
Are over the Solana. 
Wait wait wait. 

408
00:21:04,940 --> 00:21:10,140
They have 1.5 billion Solana? 
What is that like $100? 

409
00:21:10,690 --> 00:21:11,770
Sorry, sorry. 
No, no, actually. 

410
00:21:12,490 --> 00:21:14,370
Dollar worth. 
Dollars worth. 

411
00:21:15,410 --> 00:21:18,490
Like, it's an insane amount of 
Solana. 

412
00:21:20,570 --> 00:21:23,970
Solana, What do you like? 
What can you do with all of 

413
00:21:23,970 --> 00:21:26,730
that, Solana? 
Good question. 

414
00:21:26,730 --> 00:21:29,330
What can you do that? 
What can you do with Eve? 

415
00:21:29,930 --> 00:21:34,010
What'd you go to, Lala? 
Yeah, the Solana, you actually 

416
00:21:34,010 --> 00:21:39,220
saw the the cofounders of Solana
came out yesterday, I think on 

417
00:21:39,220 --> 00:21:42,740
Friday basically being like 
don't sell it, don't sell it, 

418
00:21:42,820 --> 00:21:46,980
let's hand it around to people. 
It should be given to various 

419
00:21:46,980 --> 00:21:51,260
different customers and maybe we
can maybe we can find it. 

420
00:21:53,060 --> 00:21:55,980
Solana Co founders pushes for 
Sol token redistribution from 

421
00:21:55,980 --> 00:21:58,940
SDX to bankrupt exchange users. 
People are saying that Solana 

422
00:21:58,940 --> 00:22:02,060
you go to like 10, if they end 
up dumping all of this Solana, 

423
00:22:02,060 --> 00:22:06,410
it's a huge bit of the Salana 
market cap which I think would 

424
00:22:06,410 --> 00:22:09,410
be a buying opportunity. 
But this is quite a big, quite a

425
00:22:09,410 --> 00:22:14,930
big overhang for the for the 
Solana Maxis, it's been, it's 

426
00:22:14,930 --> 00:22:18,370
had some good press so far this 
year, a lot of lot of buildings 

427
00:22:18,370 --> 00:22:19,090
still going on. 
Solana. 

428
00:22:19,090 --> 00:22:23,250
In fact, Make a Dow announced on
Friday that they are going to be

429
00:22:23,250 --> 00:22:25,850
exploring us a fork of Solana 
Make a Dow. 

430
00:22:26,010 --> 00:22:27,810
Obviously one of the biggest D5 
protocols. 

431
00:22:29,370 --> 00:22:32,730
In fact, Vitalik sold his maker 
tokens when he found out they 

432
00:22:32,730 --> 00:22:37,570
was gonna do a wait. 
Run it back, run it back. 

433
00:22:37,570 --> 00:22:39,210
What's a make? 
A what token? 

434
00:22:39,490 --> 00:22:41,450
A maker token. 
Make a Dow. 

435
00:22:41,690 --> 00:22:44,890
Make a Dow is like one of the 
oldest D5 protocols they do. 

436
00:22:45,130 --> 00:22:47,050
You know the stable coin die 
Dai. 

437
00:22:47,930 --> 00:22:51,090
Yes. 
Why is that always used for like

438
00:22:51,090 --> 00:22:54,130
scamming? 
Like, I definitely know. 

439
00:22:57,000 --> 00:22:59,520
I would argue the other ones of 
the the scouting ones. 

440
00:22:59,600 --> 00:23:02,440
Tara you. 
Know if you know, you know but 

441
00:23:02,440 --> 00:23:06,320
you know you're like somewhat of
an OG for VYC if you've had like

442
00:23:06,320 --> 00:23:12,040
100 die offer on your on your on
yourboarding.com that's how I 

443
00:23:12,040 --> 00:23:14,560
know die but other than that I 
got no knowledge on it. 

444
00:23:14,560 --> 00:23:17,320
So I love if you like, give me a
little bit, explain it to me 

445
00:23:17,320 --> 00:23:20,640
like I'm five and even for like 
people that are tuning in like. 

446
00:23:21,290 --> 00:23:25,090
Why did this even happen? 
Like what happened with the kind

447
00:23:25,090 --> 00:23:29,290
of, in a way not Rise and Fall 
of Solana, but like, you know, 

448
00:23:29,290 --> 00:23:31,970
with the whole FDX thing. 
Like what was it that made it 

449
00:23:31,970 --> 00:23:34,250
kind of just go. 
I felt like it was on such a 

450
00:23:34,250 --> 00:23:38,330
high and then you know, it just 
kind of went, yeah, so those are

451
00:23:38,370 --> 00:23:40,370
two very different questions. 
But the first one is what is 

452
00:23:40,370 --> 00:23:43,290
what is make a Dow? 
Make a Dow produces its own 

453
00:23:43,290 --> 00:23:47,010
stable coin, which is die. 
It's different than others. 

454
00:23:47,050 --> 00:23:51,780
The other stable coins in the in
the in the whole ecosystem in 

455
00:23:51,780 --> 00:23:54,340
that it's not one for one back 
with dollars. 

456
00:23:54,820 --> 00:24:00,580
So there's part of like the the 
ideals of crypto is to move away

457
00:24:00,580 --> 00:24:05,300
from just dollars backed by 
dollars. 

458
00:24:05,420 --> 00:24:06,820
Like it just doesn't seem to 
make sense. 

459
00:24:06,820 --> 00:24:10,180
So the idea is to create a 
stable coin where you can get 

460
00:24:10,180 --> 00:24:14,060
$1.00 of that $1.00 value, but 
the collateral is a mix. 

461
00:24:14,260 --> 00:24:16,500
But the collateral is means like
what's its bank, what it's 

462
00:24:16,500 --> 00:24:19,950
backed up by. 
So with with normal stable coins

463
00:24:19,950 --> 00:24:28,230
like USDT Tether or USDC Circle 
stable coin, they will largely 

464
00:24:29,190 --> 00:24:31,030
maybe make a generalization 
there because Tether doesn't 

465
00:24:31,030 --> 00:24:33,870
100% do it, but they will just 
keep a dollar in the bank 

466
00:24:33,870 --> 00:24:37,390
account for every dollar of USDC
that you own. 

467
00:24:37,950 --> 00:24:40,150
That's just use USDC as the 
perfect example. 

468
00:24:40,150 --> 00:24:44,430
Tether includes about 90% of 
dollars in the bank out, and it 

469
00:24:44,430 --> 00:24:46,150
does some other crazy stuff for 
the 10%. 

470
00:24:47,030 --> 00:24:52,750
Dye instead has a portfolio of 
assets including Bitcoin and Eve

471
00:24:53,110 --> 00:24:56,590
and a few other stables. 
So a few other stables and a few

472
00:24:56,590 --> 00:25:01,390
other like altcoins essentially.
So the collateral that protects 

473
00:25:01,390 --> 00:25:05,950
your $1.00 value is not just 
dollars in a bank account. 

474
00:25:05,950 --> 00:25:08,950
So there's more risk to it in 
some ways and in some ways 

475
00:25:08,950 --> 00:25:11,910
there's maybe less risk because 
it's the idea that this this 

476
00:25:11,910 --> 00:25:15,270
collateral is stronger and it's 
more protected. 

477
00:25:15,840 --> 00:25:18,880
So a large bit of it is covered 
by East and amongst other 

478
00:25:18,880 --> 00:25:21,080
things. 
So die is like if you're an OG 

479
00:25:21,080 --> 00:25:25,120
in the space, if you're a bit of
an OG, a lot of Og's like die 

480
00:25:25,160 --> 00:25:28,360
because it's like it keeps a bit
of the crypto ethos about it, 

481
00:25:28,360 --> 00:25:30,240
like it's not your average 
stable point. 

482
00:25:31,320 --> 00:25:37,320
And anyway maker, maker recently
has been doing very big things 

483
00:25:37,360 --> 00:25:41,840
in the in the real world asset 
space and that they've been 

484
00:25:41,840 --> 00:25:45,240
tokenizing big U.S. 
Treasury portfolios and allowing

485
00:25:46,420 --> 00:25:48,740
allowing people to experience 
the yield on that in their 

486
00:25:48,740 --> 00:25:50,380
portfolio in their dye 
portfolio. 

487
00:25:50,380 --> 00:25:54,460
So you can stake your dye and 
you can get about 5 to 8% 

488
00:25:54,460 --> 00:25:56,540
interest. 
They've fluctuated between it 

489
00:25:56,540 --> 00:25:59,820
recently and majority of that 
that yield right now is coming 

490
00:25:59,820 --> 00:26:00,900
from U.S. 
Treasuries. 

491
00:26:01,780 --> 00:26:05,340
So make a Dow is where do. 
You take your die and stuff like

492
00:26:05,340 --> 00:26:08,260
where do you do all of these 
things on the maker protocol. 

493
00:26:08,260 --> 00:26:11,100
So like if you go to make a I 
think it's called make a dot Dow

494
00:26:11,100 --> 00:26:15,030
or make a Dow, you can stake 
your die and you can get their 

495
00:26:15,030 --> 00:26:19,310
savings rate of 5 to 8%. 
So if you're just looking for a 

496
00:26:19,310 --> 00:26:24,150
stable interest rate in stable 
coins like one that I think you 

497
00:26:24,150 --> 00:26:28,230
can believe in, die is a good 
option like you can and they've 

498
00:26:28,590 --> 00:26:32,270
experienced massive growth in 
the amount of die being issued 

499
00:26:32,270 --> 00:26:34,870
because of what they've done. 
So this year, it's been a very 

500
00:26:34,870 --> 00:26:38,030
big year for Make a Dow, in 
particular that token, because 

501
00:26:38,030 --> 00:26:40,500
it started to make money and 
people have been very impressed 

502
00:26:40,500 --> 00:26:42,860
with it. 
So Vitalik was pretty pissed 

503
00:26:42,900 --> 00:26:47,020
when they decided they're going 
to move away from Ethereum as 

504
00:26:47,020 --> 00:26:50,900
their Layer 1 blockchain and 
they're going to move to a fork 

505
00:26:50,900 --> 00:26:54,580
of Solana as a as a layer two. 
So Vitalik, who could be kind of

506
00:26:54,580 --> 00:26:58,220
been involved in the genesis of 
Make a Dow on the weekend, 

507
00:26:58,220 --> 00:27:01,700
decided to sell his Make a Dow 
tokens as a form of protest. 

508
00:27:01,700 --> 00:27:05,380
This weekend, yeah, he sold 
about 500 grands worth of Make a

509
00:27:05,380 --> 00:27:07,380
Dow. 
Tokens Mans are coming in hot 

510
00:27:07,380 --> 00:27:10,790
with the TEA. 
Hey, man, don't come out with 

511
00:27:10,790 --> 00:27:12,750
the T so there's such like T 
over here. 

512
00:27:12,790 --> 00:27:13,790
OK. 
All right. 

513
00:27:13,990 --> 00:27:17,910
So you got, you got metallic, 
just like MM HM like, yeah, I 

514
00:27:17,990 --> 00:27:20,430
have a drama, no one said 
anything about it, but it was 

515
00:27:20,430 --> 00:27:23,350
very clear what just happened. 
But yeah, it's a little bit of 

516
00:27:23,870 --> 00:27:27,710
blockchain soap opera going on 
right now, which no one actually

517
00:27:27,790 --> 00:27:30,150
cares about, but that's 
basically what's going on. 

518
00:27:31,830 --> 00:27:37,070
And anyway, Solana now had been 
having a good year. 

519
00:27:37,070 --> 00:27:40,430
Like a lot of uses, like people 
have been happy about the NFT's 

520
00:27:40,710 --> 00:27:44,830
being selective. 
Some of the some of the D5 stuff

521
00:27:44,830 --> 00:27:47,150
is going a little bit better. 
This make it thing was a big 

522
00:27:47,150 --> 00:27:50,190
deal for them and now it turns 
out that FTX is going to go 

523
00:27:50,190 --> 00:27:53,510
around and sell 1 1/2 billion 
dollars of of Solana. 

524
00:27:53,510 --> 00:27:56,790
So the yeah the the cofounders 
are pissed. 

525
00:27:57,110 --> 00:27:59,990
This could be a big overhang for
Solana in the near term. 

526
00:28:01,520 --> 00:28:04,240
There's there's a bunch of 
things that could happen here. 

527
00:28:07,040 --> 00:28:12,440
It's FTX right now is is in a 
bit of negotiation about how to 

528
00:28:12,440 --> 00:28:17,640
go forward. 
There are competing proposals 

529
00:28:18,200 --> 00:28:21,360
from various different 
stakeholders about what they 

530
00:28:21,360 --> 00:28:23,800
should do, whether they should 
like reopen the exchange, 

531
00:28:24,260 --> 00:28:26,860
whether they should they should 
give us a slightly different 

532
00:28:26,860 --> 00:28:29,380
sort of exchange where they 
should pay people out, how they 

533
00:28:29,380 --> 00:28:32,420
should pay people out. 
And it's been dragging on. 

534
00:28:32,660 --> 00:28:36,660
In fact, I think they are paying
something like $50 million a 

535
00:28:36,660 --> 00:28:40,860
month in legal fees. 
So it's it's pretty massive. 

536
00:28:41,700 --> 00:28:45,580
And if the longer and longer it 
goes on, the more and more legal

537
00:28:45,580 --> 00:28:46,700
fees. 
So we're talking, you know that 

538
00:28:46,740 --> 00:28:49,020
they're going to start burning 
up all the assets that they 

539
00:28:49,020 --> 00:28:50,420
have. 
If this goes on for years and 

540
00:28:50,420 --> 00:28:53,950
years and years, in the interim,
they have decided they should 

541
00:28:53,950 --> 00:28:57,550
start to liquidate some of their
actual assets, some of which 

542
00:28:58,030 --> 00:29:01,750
includes Solana alongside some 
other Sam coins. 

543
00:29:01,870 --> 00:29:04,830
And yeah, this could get a bit 
messy. 

544
00:29:05,710 --> 00:29:09,110
They do own quite a lot of ether
and Bitcoin, but they decide to 

545
00:29:09,110 --> 00:29:10,630
keep all of that. 
They just want to sell the alts,

546
00:29:10,630 --> 00:29:13,750
it looks like. 
So people are going to be 

547
00:29:13,750 --> 00:29:17,200
watching this wallet a lot. 
I think that hopefully they come

548
00:29:17,200 --> 00:29:19,720
to some sort of better proposal 
than just market dumping, 

549
00:29:20,560 --> 00:29:24,200
Solana, but I don't know. 
What do you think I was gonna 

550
00:29:24,200 --> 00:29:25,400
say? 
Isn't there like an option 

551
00:29:25,400 --> 00:29:29,040
where, like a few Solana whales 
club together, find some 

552
00:29:29,040 --> 00:29:31,440
financing and do like an OTC 
trade? 

553
00:29:31,960 --> 00:29:34,800
Or like, it Sounds like a lot, 
but it's Solana Whale, right? 

554
00:29:36,760 --> 00:29:38,800
Yeah. 
Yeah, sure. 

555
00:29:38,800 --> 00:29:41,480
There must be others, like 
there's so many VCs involved as 

556
00:29:41,480 --> 00:29:43,760
well like that, who don't want 
to be dumped on. 

557
00:29:43,760 --> 00:29:47,160
I think that unlocks kind of 
like there's another unlock wave

558
00:29:47,160 --> 00:29:49,560
this month, I think, right? 
Is that right? 

559
00:29:49,760 --> 00:29:52,720
I don't know. 
It's largely, it's largely done.

560
00:29:52,720 --> 00:29:56,080
I think everything, everything's
out in terms of unlocks. 

561
00:29:57,480 --> 00:30:00,640
But yeah, I agree with you that 
like it all happened with Curb 

562
00:30:00,640 --> 00:30:04,440
Finance in the last month. 
Like basically these big OTC 

563
00:30:04,440 --> 00:30:07,810
deals can happen where they sell
10s of billions dollars of token

564
00:30:07,810 --> 00:30:10,690
off market. 
Everyone comes in to save curve.

565
00:30:11,250 --> 00:30:13,410
Like that could happen with 
Solana, but this is a lot of 

566
00:30:13,410 --> 00:30:15,610
money. 1/2 billion dollars 
salon. 

567
00:30:15,810 --> 00:30:17,730
What percentage of the total 
supply is this? 

568
00:30:17,810 --> 00:30:22,330
Is lots of like I'm looking now,
like when I look at the size of 

569
00:30:22,330 --> 00:30:27,410
Solana. 30%, is that right? 
It would be something like that.

570
00:30:28,010 --> 00:30:31,290
It's $8 billion actually. 
It looks like it's the market 

571
00:30:31,290 --> 00:30:34,100
cap of Solana fully diluted is 
10. 

572
00:30:34,380 --> 00:30:39,100
So actually it's 15% roughly of 
the total size of Solana. 

573
00:30:39,740 --> 00:30:43,060
It's like a week's worth of 
volume, it looks like, but one 

574
00:30:43,060 --> 00:30:45,740
and a half million dollars is 1 
1/2. $1,000,000 what's going on 

575
00:30:45,740 --> 00:30:49,780
over here in this little corn 
market cap update? 

576
00:30:49,780 --> 00:30:54,700
Yeah, it's gonna need to expand 
a little bit, expand a little 

577
00:30:56,220 --> 00:31:00,660
bit like it just we're putting 
into context how big a bag this 

578
00:31:00,780 --> 00:31:02,930
is. 
This is truly massive a big. 

579
00:31:03,050 --> 00:31:07,130
Of a bag going where? 
That's the point. 

580
00:31:07,450 --> 00:31:10,890
They just might have to just 
sell it to everyone in the 

581
00:31:10,890 --> 00:31:13,770
market. 
But the better option is to have

582
00:31:13,970 --> 00:31:17,370
a few big strategic players come
in and decide to buy these 

583
00:31:17,370 --> 00:31:19,530
tokens. 
And seemingly the Solana. 

584
00:31:19,970 --> 00:31:22,330
The Solana cofounders are hoping
that something like that 

585
00:31:22,330 --> 00:31:25,170
happens. 
What would they benefit these 

586
00:31:25,170 --> 00:31:30,570
like big quote UN quote players 
from buying these Solana tokens?

587
00:31:31,320 --> 00:31:34,920
You would for a deal like this, 
you would generally look to buy 

588
00:31:34,920 --> 00:31:38,880
at a massive discount, and 
normally you buy the discount on

589
00:31:39,000 --> 00:31:41,560
A and it's you're not allowed to
sell them for a little bit of 

590
00:31:41,560 --> 00:31:45,360
time. 
So like I might go to FDX and be

591
00:31:45,360 --> 00:31:49,600
like I'll buy $100 million of 
Solano tokens, but I'll buy them

592
00:31:49,600 --> 00:31:52,640
at 12 rather than 19 which is 
where they're trading right now 

593
00:31:53,120 --> 00:31:57,080
and in return I'll agree not to 
sell them for six months. 

594
00:31:57,710 --> 00:31:59,550
Now this is traditionally what 
happens when they try and get 

595
00:31:59,550 --> 00:32:02,630
out of big blocks like this, 
they call them OTC which is over

596
00:32:02,630 --> 00:32:09,550
the counter trades, but but 
normally people don't don't keep

597
00:32:09,550 --> 00:32:12,110
to those agreements and they 
won't they'll sell them before 

598
00:32:12,110 --> 00:32:13,830
six months. 
So like, that's what's been 

599
00:32:13,830 --> 00:32:19,150
happening Curve recently, and 
with Solana I would hope that 

600
00:32:19,150 --> 00:32:22,000
some people could band together 
and buy these tokens, but then? 

601
00:32:22,320 --> 00:32:24,960
Like sign a contract. 
When you say okay, I'm gonna buy

602
00:32:24,960 --> 00:32:26,600
it. 
So let's say I'm a big whale and

603
00:32:26,600 --> 00:32:30,400
I say okay, You need some help? 
I'm gonna buy it at $12.00. 

604
00:32:30,400 --> 00:32:32,240
It's 19 or I'm gonna buy it at 
$12.00. 

605
00:32:33,160 --> 00:32:35,760
You're telling me I could only 
sell it in what, six months? 

606
00:32:36,040 --> 00:32:38,240
I wanna sell it sooner. 
I could just do that and 

607
00:32:38,240 --> 00:32:42,280
everything's fine. 
Well, sometimes they make you 

608
00:32:42,280 --> 00:32:45,440
sign stuff, but often in these 
scenarios it's just a handshake 

609
00:32:45,440 --> 00:32:48,050
agreement. 
So and handshake agreements get 

610
00:32:48,050 --> 00:32:49,530
broken because no one gives a 
shit. 

611
00:32:49,850 --> 00:32:52,930
So generally these these things 
get broken. 

612
00:32:53,010 --> 00:32:55,610
That's why with curves. 
So for example like curve and 

613
00:32:55,690 --> 00:32:57,450
when they got hacked recently if
you saw that a. 

614
00:32:57,890 --> 00:33:00,490
Bunch of different people came 
in and say, look we'll buy these

615
00:33:00,490 --> 00:33:03,010
curve figures from we we'll save
the well, we won't sell them for

616
00:33:03,010 --> 00:33:06,090
for a few months. 
About a week later two of the 

617
00:33:06,090 --> 00:33:09,370
biggest market makers in the in 
the in the in the whole space 

618
00:33:09,370 --> 00:33:10,930
decided just to start selling 
the tokens. 

619
00:33:12,020 --> 00:33:15,220
So it's like a it's a in game 
theory you call that a 

620
00:33:15,220 --> 00:33:18,060
prisoner's dilemma. 
Like it's in everyone's interest

621
00:33:18,060 --> 00:33:23,620
to just like break the break the
contract and it's whoever does 

622
00:33:23,620 --> 00:33:25,260
it earlier. 
So you generally see these 

623
00:33:25,260 --> 00:33:27,420
things break apart. 
So look let's see what happens. 

624
00:33:27,660 --> 00:33:30,900
I'm I'm completely making up 
scenarios here that whales will 

625
00:33:30,900 --> 00:33:32,660
come in and buy hundreds of 
millions of dollars. 

626
00:33:32,660 --> 00:33:35,580
Solana. 
It could be messy, it could be 

627
00:33:35,580 --> 00:33:37,620
good, but like it's definitely 
something to be aware of. 

628
00:33:37,620 --> 00:33:41,220
And I think people you could see
Solana which was on our 

629
00:33:41,220 --> 00:33:43,060
projector trajectory. 
I think people were hoping it 

630
00:33:43,060 --> 00:33:45,260
could get like 30 or 40 this 
year. 

631
00:33:45,380 --> 00:33:47,540
This is going to be a big 
overhang for the for the for the

632
00:33:47,540 --> 00:33:51,660
rest of the rest of the year if 
they have to come to to sell it.

633
00:33:52,660 --> 00:33:55,180
I think the the third main thing
to talk about is what's been 

634
00:33:55,180 --> 00:33:58,780
going on in the ETF's. 
There are a few updates over the

635
00:33:58,780 --> 00:33:59,940
weekend. 
I know this stuff is a little 

636
00:33:59,940 --> 00:34:04,460
bit dry, but JP Morgan basically
came out and said they think an 

637
00:34:04,460 --> 00:34:07,140
ETF is 100% going to happen. 
That's probably the most 

638
00:34:07,140 --> 00:34:10,150
respected investment bank in the
world. 

639
00:34:10,150 --> 00:34:12,790
I would say they think it's 
gonna happen. 

640
00:34:13,550 --> 00:34:20,590
They think the FCC is gonna be 
forced into approving this in 

641
00:34:20,590 --> 00:34:26,110
the situation that they are in 
JP Morgan down here, so. 

642
00:34:26,770 --> 00:34:28,690
What's your view on the 
probability in Mando? 

643
00:34:28,810 --> 00:34:32,330
I agree with JP Morgan 
disclaimer, I did work there 

644
00:34:32,449 --> 00:34:35,929
briefly, Yeah. 
Yeah. 

645
00:34:35,929 --> 00:34:38,010
Look, I think it's very, very, 
very high. 

646
00:34:38,370 --> 00:34:39,770
It's very, very high that it'll 
happen. 

647
00:34:39,770 --> 00:34:41,810
It's just a case. 
It's a case of if it's a case of

648
00:34:41,810 --> 00:34:43,210
when, not if. 
I think for these sort of 

649
00:34:43,210 --> 00:34:46,969
things. 
But at the same time the SEC 

650
00:34:46,969 --> 00:34:50,960
Gensler is just a douche bag 
isn't he like he I don't think 

651
00:34:50,960 --> 00:34:53,159
he's going to roll over that 
that that quickly. 

652
00:34:53,960 --> 00:34:57,800
So I think could be in until 
maybe 2024. 

653
00:34:58,120 --> 00:35:00,640
I think it's a case of I think 
the Bloomberg, a Bloomberg 

654
00:35:00,640 --> 00:35:04,720
analyst came out last week and 
said 75% chance it gets done in 

655
00:35:04,720 --> 00:35:08,440
2020, three, 95% chance it gets 
done in 2024. 

656
00:35:09,040 --> 00:35:13,480
So I think that kind of gives 
you that it he could just drag 

657
00:35:13,480 --> 00:35:18,570
his feet for a little bit but 
but it's going to happen that 

658
00:35:19,490 --> 00:35:22,170
there's they're they're they're 
they're in really really in a 

659
00:35:22,170 --> 00:35:24,170
tough position. 
And there was there was another 

660
00:35:24,170 --> 00:35:26,250
thing which I thought was very 
interesting over the weekend 

661
00:35:27,330 --> 00:35:30,330
that remember the SEC is 
fighting three different fights 

662
00:35:30,330 --> 00:35:33,370
right now. 
It's fighting the ETF battle 

663
00:35:33,370 --> 00:35:37,210
where it's trying to block 
grayscale and the black rocks 

664
00:35:37,530 --> 00:35:40,410
ETF's. 
It's fighting Coinbase in that 

665
00:35:40,410 --> 00:35:45,090
it told Coinbase that you know 
you're an and saying that you 

666
00:35:45,530 --> 00:35:48,840
were all these unregulated 
exchanges like you you issued 

667
00:35:48,840 --> 00:35:54,760
all these products and then it's
fighting Ripple and it basically

668
00:35:54,760 --> 00:36:02,640
lost the Ripple fight over the 
weekend sorry over the over the 

669
00:36:03,560 --> 00:36:05,720
last week and then it appealed 
it. 

670
00:36:06,080 --> 00:36:13,920
It now looks like that appeal 
the a couple of people, one 

671
00:36:13,920 --> 00:36:16,040
Ripple law and the Coinbase CLO,
basically came in and said the 

672
00:36:16,280 --> 00:36:18,200
SEC is going to lose even the 
appeal. 

673
00:36:18,200 --> 00:36:20,880
It's going to get rejected and 
in very high probability it's 

674
00:36:20,880 --> 00:36:22,880
going to get rejected because 
the way that they are making the

675
00:36:22,880 --> 00:36:28,600
argument, it's just nonsensical.
So the SEC could be in about to 

676
00:36:28,600 --> 00:36:32,120
hit another blow here. 
So not only could it lose the 

677
00:36:32,120 --> 00:36:35,840
SE, the ECF battle which people 
are saying it's going to lose, 

678
00:36:35,840 --> 00:36:39,280
it already lost with grayscale 
teaming last week and now it's 

679
00:36:39,440 --> 00:36:42,000
it's gonna lose again versus 
XRP. 

680
00:36:42,280 --> 00:36:44,480
And then you have the coin based
lawsuit, which people are saying

681
00:36:44,480 --> 00:36:47,000
they're gonna lose that again, 
so they're just in a really, 

682
00:36:47,000 --> 00:36:49,400
really bad spot. 
It's increasingly looking like 

683
00:36:49,400 --> 00:36:55,400
Gensler's an idiot. 
Mando, Mando, Mando. 

684
00:36:55,720 --> 00:37:03,080
Mando, who is battling who and 
is JP Morgan. 

685
00:37:03,640 --> 00:37:07,480
All into this? 
OK, explain it like I'm five men

686
00:37:07,560 --> 00:37:09,640
though. 
OK, run it back, Turbo. 

687
00:37:09,800 --> 00:37:13,560
Who's fighting who? 
So I don't know. 

688
00:37:13,560 --> 00:37:16,720
I'll try and go again because 
maybe, maybe maybe I didn't make

689
00:37:16,720 --> 00:37:18,360
it clear. 
But yeah, just really quick. 

690
00:37:18,520 --> 00:37:21,600
So like, this person. 
Who's this person? 

691
00:37:21,680 --> 00:37:25,800
Who's this person? 
I would say one side is the SEC 

692
00:37:25,800 --> 00:37:28,280
and all of all three of those 
scenarios is the SEC. 

693
00:37:29,040 --> 00:37:31,240
And then it's facing three 
different people. 

694
00:37:31,320 --> 00:37:35,630
It's facing all the ETF, all the
ETF people. 

695
00:37:35,950 --> 00:37:41,750
So Black, Rock, Grayscale and 
various different of ETF 

696
00:37:41,750 --> 00:37:43,910
providers. 
The second battle that's facing 

697
00:37:43,910 --> 00:37:46,750
is versus Ripple, which is the 
XRP. 

698
00:37:47,630 --> 00:37:49,270
And the third battle is versus 
Coinbase. 

699
00:37:49,790 --> 00:37:53,030
Now the two pieces of news that 
came out over the weekend were 

700
00:37:53,030 --> 00:37:55,110
those first 2 battles that we 
spoke about. 

701
00:37:55,590 --> 00:37:58,230
So it's it's the battle. 
That is winning. 

702
00:37:59,590 --> 00:38:01,630
It looks like the SEC is going 
to lose all three of the 

703
00:38:01,630 --> 00:38:03,110
battles. 
If I'm wrong, I think it. 

704
00:38:03,310 --> 00:38:04,910
I think it could lose all three 
of them. 

705
00:38:05,710 --> 00:38:08,430
I think it could lose all three 
of them and I think it could 

706
00:38:08,430 --> 00:38:12,110
lose them in the next few weeks.
Like this isn't. 

707
00:38:12,350 --> 00:38:17,510
I think the judge is going to 
have to decide whether it agrees

708
00:38:17,910 --> 00:38:22,070
that yeah, I'm not going to go 
too complex, but it's going to 

709
00:38:22,070 --> 00:38:24,750
have to make some like judges 
can have to make decisions in 

710
00:38:24,750 --> 00:38:26,870
the next few weeks basically on 
some of these things. 

711
00:38:27,310 --> 00:38:29,550
And I think the I think the SEC 
could lose all of them. 

712
00:38:30,150 --> 00:38:35,550
So it's going to be backed into 
a corner I think by maybe this 

713
00:38:35,550 --> 00:38:40,110
time next month where there are 
some big deadlines coming up 

714
00:38:40,110 --> 00:38:44,470
this time next month the SEC to 
to approve some of the ETF's and

715
00:38:44,470 --> 00:38:46,910
I think it might it might have 
to succeed with them. 

716
00:38:46,910 --> 00:38:48,510
I don't know if you would agree 
with that too, Cali. 

717
00:38:49,110 --> 00:38:51,350
Definitely. 
The thing I can't believe is 

718
00:38:51,350 --> 00:38:54,590
they they backed themselves into
this corner themselves. 

719
00:38:55,110 --> 00:38:59,070
Just through sheer kind of like 
as you and it looks like it 

720
00:38:59,070 --> 00:39:02,270
looks amateur, honestly. 
And the whole kind of legal 

721
00:39:02,270 --> 00:39:05,630
strategy around all of these 
cases looks so amateur. 

722
00:39:05,910 --> 00:39:09,710
And it feels like the leadership
at the SEC has been kind of 

723
00:39:10,910 --> 00:39:15,870
their judgment on, as you said, 
literally like logical argument 

724
00:39:16,030 --> 00:39:20,830
has been clouded by like hatred 
of the space or just like a 

725
00:39:20,830 --> 00:39:24,030
fundamental disagreement with 
something. 

726
00:39:24,520 --> 00:39:27,320
And as we said with the gamers, 
like it's hard to fundamentally 

727
00:39:27,320 --> 00:39:32,040
disagree with computers. 
Like I I have no sympathy for 

728
00:39:32,040 --> 00:39:34,040
anybody. 
As well, I've no sympathy for 

729
00:39:34,040 --> 00:39:37,640
the the senior people at the SEC
who are pushing this and who 

730
00:39:37,920 --> 00:39:41,600
ultimately, I'd be very 
surprised if a decent number of 

731
00:39:41,600 --> 00:39:44,120
people don't get fired because 
somebody needs to fall on a 

732
00:39:44,160 --> 00:39:48,000
sword, yeah. 
Alright, I know that's how. 

733
00:39:48,200 --> 00:39:50,680
Things work, right? 
I know that's a dry section. 

734
00:39:50,680 --> 00:39:51,240
We won't. 
We won't. 

735
00:39:51,280 --> 00:39:54,580
We won't continue with the SEC 
stuff too much, but we'll go on 

736
00:39:54,580 --> 00:39:56,700
to what's going on in the Yuga 
Labs this weekend. 

737
00:39:56,700 --> 00:40:00,180
So I don't know if you saw, but 
Matchy came in, Matchy came in 

738
00:40:00,180 --> 00:40:03,700
and bought 2 mega Mutants. 
So Matchy's playing a weird game

739
00:40:03,700 --> 00:40:05,060
at the moment if anyone's been 
watching. 

740
00:40:05,780 --> 00:40:11,340
He's bought a lot of apes, 
particularly rare apes and floor

741
00:40:11,340 --> 00:40:13,220
apes, and he's buying a lot of 
Apecoin. 

742
00:40:13,580 --> 00:40:17,940
And remember, he also has this 
this potential proposal to the 

743
00:40:17,940 --> 00:40:24,770
Dow to buy thousands of apes. 
So people are thinking he may be

744
00:40:24,770 --> 00:40:27,210
playing some checkers when 
everyone else is playing chess 

745
00:40:27,210 --> 00:40:29,050
here. 
Like, he's definitely making a 

746
00:40:29,050 --> 00:40:30,970
big play. 
For you for that all the way 

747
00:40:31,050 --> 00:40:33,170
around. 
I don't know what game he's 

748
00:40:33,250 --> 00:40:34,570
playing, but he's definitely not
playing the. 

749
00:40:37,010 --> 00:40:38,730
Game. 
He's playing Monopoly on a chess

750
00:40:38,730 --> 00:40:40,250
board. 
He's playing Monopoly when 

751
00:40:40,250 --> 00:40:44,330
everyone else is playing chess. 
I kind of feel he's playing the 

752
00:40:44,330 --> 00:40:46,010
game with his self. 
It's like who? 

753
00:40:46,130 --> 00:40:48,490
Who's playing the game in this 
economy? 

754
00:40:49,010 --> 00:40:50,290
I would agree. 
He's playing with. 

755
00:40:50,330 --> 00:40:53,570
I just feel like he's. 
I feel like he's playing him and

756
00:40:53,570 --> 00:40:55,250
him. 
I feel like he's doing the 

757
00:40:55,250 --> 00:40:58,290
chess, you know and like and 
then he's he's doing the other 

758
00:40:58,330 --> 00:40:59,290
play. 
I don't know. 

759
00:40:59,610 --> 00:41:03,090
I feel like he's increasingly 
turning a low IQ play into a 

760
00:41:03,090 --> 00:41:05,530
high IQ play. 
And I don't know if he was, he 

761
00:41:05,530 --> 00:41:08,210
was high Iqing it the whole time
role, like everyone talking 

762
00:41:08,210 --> 00:41:10,170
about how much money he lost. 
And now it looks like he could 

763
00:41:10,170 --> 00:41:14,640
end up buying back all of his 
bags like you know it's an 

764
00:41:14,640 --> 00:41:17,000
interesting one. 
I think he's I think he's this 

765
00:41:17,000 --> 00:41:19,680
this is now he puts himself in a
quite a fun scenario and he's 

766
00:41:19,680 --> 00:41:22,160
buying all these mega mutants. 
It looks like the average price 

767
00:41:22,160 --> 00:41:27,520
for a mega mutant is still 250 
to 500 eighth, which is I think 

768
00:41:27,520 --> 00:41:29,920
kind of high, right. 
Like that's that's high given 

769
00:41:29,920 --> 00:41:35,080
the mutant 8th floor is five. 
So yeah, there's twelve of them,

770
00:41:35,080 --> 00:41:37,920
but but that puts them in the 
that puts them in the sort of 

771
00:41:37,920 --> 00:41:46,500
range of gold apes, you know, 
and apes are, what, 2728 at the 

772
00:41:46,500 --> 00:41:49,860
moment, there's. 
Only 10 floors or like 8-9 

773
00:41:49,860 --> 00:41:52,380
floors. 
Well, there are 100 floors for 

774
00:41:52,380 --> 00:41:55,580
for Megas it. 
Looks like mutants, Yeah, and 

775
00:41:56,020 --> 00:41:58,660
it's 10 floors for for gold 
ones, but it's. 

776
00:41:58,700 --> 00:42:00,980
Yeah, just an interesting move 
here. 

777
00:42:01,140 --> 00:42:05,900
You also saw the floor of of 
most NFT projects actually, but 

778
00:42:05,900 --> 00:42:09,340
in particular Yugalab stuff has 
been doing well recently. 

779
00:42:11,020 --> 00:42:15,300
Bring up the gens. 
I feel like, so I collect rare 

780
00:42:15,300 --> 00:42:17,260
books, which is quite a dry 
thing. 

781
00:42:17,300 --> 00:42:20,060
Weird thing to do, but I'm going
to get it in here. 

782
00:42:20,180 --> 00:42:23,300
This happens all the time in 
rare books like this happens in 

783
00:42:23,300 --> 00:42:24,900
Harry Potter. 
A lot of the time loads of 

784
00:42:24,900 --> 00:42:28,860
people own sign Harry Potters 
and they print massive prices, 

785
00:42:28,860 --> 00:42:31,580
really high on the first 
editions, like the really rare 

786
00:42:31,580 --> 00:42:34,500
ones, so that the other signed 
ones start to go up in price. 

787
00:42:34,540 --> 00:42:36,620
And I feel like maybe there's a 
bit of that going on here. 

788
00:42:36,860 --> 00:42:39,020
Like he owns so many floor rates
that he's trying to set high 

789
00:42:39,020 --> 00:42:41,360
prints. 
On the good one, I love how you 

790
00:42:41,360 --> 00:42:44,000
brought in your I love how you 
say rat books. 

791
00:42:44,920 --> 00:42:46,720
You are literally just buying 
Harry Potter books. 

792
00:42:47,640 --> 00:42:49,440
Well, some Harry Potter books 
are very rare. 

793
00:42:49,840 --> 00:42:52,960
I thought it was tripping out. 
I'm like in this like I'm a 

794
00:42:52,960 --> 00:42:54,520
rare. 
I'm a rare book collector. 

795
00:42:55,160 --> 00:42:56,040
I'm actually. 
A rare book. 

796
00:42:56,040 --> 00:42:58,320
Trader Harry Potter key. 
But you know what? 

797
00:42:58,680 --> 00:43:00,160
Somebody. 
Just happens all the time. 

798
00:43:00,160 --> 00:43:02,080
In rare books, it happens all 
the time. 

799
00:43:02,200 --> 00:43:05,040
That's why I'm such a successful
NFD trader, because the two 

800
00:43:05,040 --> 00:43:08,760
trade in very similar ways. 
Oh yeah, unbelievable success. 

801
00:43:10,150 --> 00:43:12,030
Yeah. 
Look, there's a lot of leverage 

802
00:43:12,030 --> 00:43:14,390
added to the Yuga Labs 
ecosystem. 

803
00:43:14,390 --> 00:43:17,710
I don't know if you saw Cyrus 
put out tweet over the weekend. 

804
00:43:19,270 --> 00:43:24,750
Well, if I can find it, but it 
looks like a large amount of 

805
00:43:24,790 --> 00:43:27,830
loans are being taken out to bid
up the Yuga Labs ecosystem right

806
00:43:27,830 --> 00:43:29,950
now. 
Which is? 

807
00:43:30,550 --> 00:43:33,390
Yeah, it looked like it was 11 
borrower, right. 

808
00:43:33,390 --> 00:43:37,650
It is one borrower, so some 
absolute DJ has borrowed 642 

809
00:43:37,650 --> 00:43:41,730
weeks over the last few days. 
A PL. is up to 1000% to sweep 

810
00:43:41,730 --> 00:43:43,730
Yuga Labs for on 10 times 
leverage. 

811
00:43:43,730 --> 00:43:48,090
Up to 14 newtons, 47 dogs and 11
BAYCI. 

812
00:43:48,090 --> 00:43:49,930
Think he put out an update to 
this tweet. 

813
00:43:52,730 --> 00:43:55,610
Yeah, here we go. 
Yeah, the sophisticated entity 

814
00:43:55,610 --> 00:43:59,930
with a DJ Long and Yuga NFT has 
borrowed another 168 and now is 

815
00:43:59,930 --> 00:44:03,170
a 950 eighth position on a 9X 
leverage it's costing. 

816
00:44:03,170 --> 00:44:08,940
US one 1.8 a day in interest. 
Could this be matchy as well? 

817
00:44:09,260 --> 00:44:10,860
It could be matchy. 
It could be matchy. 

818
00:44:10,860 --> 00:44:14,020
It could be anyone. 
Clearly it's a sophisticated 

819
00:44:14,020 --> 00:44:17,260
entity, as Cyrus says, but this 
is a bit of a Hail Mary play, it

820
00:44:17,260 --> 00:44:22,220
looks like in the ecosystem. 
Obviously this week there are 

821
00:44:22,220 --> 00:44:27,140
gonna be events in Is it this 
week? 

822
00:44:28,300 --> 00:44:28,900
When is? 
When is? 

823
00:44:28,980 --> 00:44:31,420
Do you know they're doing an 
event with rug radio? 

824
00:44:31,420 --> 00:44:37,580
Shout out rug radio in Korea 
When is the When is the big 

825
00:44:37,580 --> 00:44:39,940
event in Hong Kong? 
Do you know who that is? 

826
00:44:40,220 --> 00:44:44,260
In November, November 4th or 5th
or whatever. 

827
00:44:44,500 --> 00:44:46,380
OK, so they got the event in 
Korea and then they got. 

828
00:44:46,700 --> 00:44:49,340
So maybe people are hoping for 
stuff into that. 

829
00:44:49,340 --> 00:44:51,740
They've got the beta launch for 
Legends of the Mara. 

830
00:44:51,900 --> 00:44:54,060
I know this month, which could 
be quite a big event, but 

831
00:44:54,380 --> 00:44:58,490
clearly somebody is playing 
quite for big in the utilizing 

832
00:44:58,690 --> 00:45:02,170
ecosystem. 
Hopefully this goes well, like I

833
00:45:02,170 --> 00:45:05,410
think they've lost them around 
in the low 20s. 

834
00:45:05,410 --> 00:45:07,290
I think people will continue to 
buy them there. 

835
00:45:07,490 --> 00:45:09,810
It's madness to me that people 
can't think they can build a 

836
00:45:09,810 --> 00:45:13,010
brand of apes at that sort of 
price point. 

837
00:45:16,850 --> 00:45:18,910
Okay. 
I don't know if there's anything

838
00:45:18,910 --> 00:45:20,710
else. 
The final thing was this, this 

839
00:45:20,710 --> 00:45:22,670
loaner. 
If you saw the the loan that was

840
00:45:22,670 --> 00:45:25,310
taken out on Supreme Tshirts 
over the weekend. 

841
00:45:25,310 --> 00:45:31,470
We touched upon it very briefly 
on on on Friday but I think this

842
00:45:31,470 --> 00:45:34,150
is a big trend. 
I think this is if we just spoke

843
00:45:34,150 --> 00:45:39,430
about again to bring it back to 
collect quite a dry thing but 

844
00:45:39,430 --> 00:45:43,270
the the amount of treasuries 
right now which are being 

845
00:45:43,270 --> 00:45:48,230
tokenized is massive. 
So it's something like $650 

846
00:45:48,230 --> 00:45:53,310
million of U.S. 
Treasuries is being is tokenized

847
00:45:53,310 --> 00:45:56,510
treasury bills. 
You can see this is actually a 

848
00:45:56,510 --> 00:46:01,350
really good website for it at 
the moment which is called RWA 

849
00:46:01,350 --> 00:46:04,830
dot XYZ and I would recommend 
anyone goes on to it. 

850
00:46:05,070 --> 00:46:07,790
It basically tells you all the 
risk weighted all the real world

851
00:46:07,790 --> 00:46:12,670
assets which are moving on to 
blockchain at the moment and at 

852
00:46:12,670 --> 00:46:19,060
the moment tokenized treasuries 
makes up $636 million of assets 

853
00:46:19,060 --> 00:46:21,380
there. 
Real estate sections, they've 

854
00:46:21,380 --> 00:46:27,540
got a private credit section, 
private credit, 552,000,000 real

855
00:46:27,540 --> 00:46:29,860
estate coming soon. 
So this is going to be a big 

856
00:46:29,860 --> 00:46:31,300
trend. 
This is a website I think to pay

857
00:46:31,300 --> 00:46:36,500
attention to. 
RWA dot XYZNF T's is also seeing

858
00:46:36,500 --> 00:46:42,810
a small a small bit of this pie 
in that you're seeing again it's

859
00:46:42,810 --> 00:46:44,610
Cyrus. 
Jesus Christ these guys, these 

860
00:46:45,090 --> 00:46:48,290
guys everywhere. 
Someone just took out $1.1 

861
00:46:48,290 --> 00:46:52,370
million loan on a supreme box 
logo tshirts as collateral. 

862
00:46:53,970 --> 00:46:56,770
I don't know this. 
You even messaged me over the 

863
00:46:56,770 --> 00:47:00,050
weekend, Kelly and said. 
What's tokenized treasuries, 

864
00:47:01,570 --> 00:47:04,570
Tokenized treasuries is, is U.S.
government bonds. 

865
00:47:04,850 --> 00:47:09,250
So the stuff that a lot of 
people, the thing that backs up 

866
00:47:09,250 --> 00:47:12,570
your savings account essentially
you can now buy them directly 

867
00:47:14,050 --> 00:47:16,570
and you can get about 5% 
interest on them. 

868
00:47:16,570 --> 00:47:19,530
But that's a huge market that's 
like multi trillion dollar 

869
00:47:19,530 --> 00:47:21,490
market which is just slowly 
moving on to book chain. 

870
00:47:21,810 --> 00:47:24,010
The idea that the same 
technology is the same 

871
00:47:24,010 --> 00:47:26,250
technologies will now back up 
the idea that you can get a loan

872
00:47:26,250 --> 00:47:33,450
out on a watch or a set of 
Supreme Tshirts or a car or a, 

873
00:47:33,690 --> 00:47:35,650
you know, a Van Gogh or 
something like that. 

874
00:47:35,650 --> 00:47:38,850
Like people will start doing 
these sort of loans on chain. 

875
00:47:41,760 --> 00:47:43,640
Yeah, I think it's huge. 
I think it's huge. 

876
00:47:44,840 --> 00:47:50,280
Basically it means that a much 
bigger pool of kind of global 

877
00:47:50,280 --> 00:47:55,040
money can like offer to lend you
cash against your assets rather 

878
00:47:55,040 --> 00:47:58,560
than that guy taking it down to 
his local like porn dealer or 

879
00:47:58,560 --> 00:48:01,400
like talking to his mate or 
something porn broker. 

880
00:48:01,400 --> 00:48:04,960
Sorry about like. 
Alone it means that anyone in 

881
00:48:04,960 --> 00:48:08,000
the world can just send you east
and it's verified by some. 

882
00:48:08,320 --> 00:48:10,880
There's a degree of 
centralization in the the 

883
00:48:10,880 --> 00:48:14,680
verification and the storage and
the production of the NST has to

884
00:48:14,680 --> 00:48:19,840
be done by like an entity that 
both people trust i.e., one of 

885
00:48:19,840 --> 00:48:23,480
these kind of platforms. 
So there is quite a lot of scope

886
00:48:23,480 --> 00:48:27,920
for like fakes I think and you 
know scams, but. 

887
00:48:29,250 --> 00:48:31,130
Like seeing through that and 
looking through that, I think 

888
00:48:31,130 --> 00:48:33,810
this is enormous. 
As you said, like cars, all of 

889
00:48:33,810 --> 00:48:36,970
this stuff will now be freely 
tradable on blockchain. 

890
00:48:36,970 --> 00:48:39,170
It'll just be stored in a really
secure warehouse. 

891
00:48:39,170 --> 00:48:42,210
This, this is already how a lot 
of wine trades because of the 

892
00:48:42,770 --> 00:48:46,570
tax on you basically pay tax 
when you take wine out of a 

893
00:48:46,570 --> 00:48:48,490
warehouse. 
So everything, if you're a big 

894
00:48:48,490 --> 00:48:52,250
wine collector, all of the wine,
you just buy certificates 

895
00:48:52,250 --> 00:48:54,290
basically, and all of the wine 
stays in the warehouse. 

896
00:48:54,290 --> 00:48:57,690
So if I sell Mika some wine. 
I just sent her the certificates

897
00:48:57,690 --> 00:48:59,930
that the bottles don't move out 
of the warehouse and then if you

898
00:48:59,930 --> 00:49:02,050
do want to drink them, you can 
send the certificates to the 

899
00:49:02,050 --> 00:49:04,570
warehouse and and get them. 
And that's going to be the same 

900
00:49:04,570 --> 00:49:08,610
here with NF T's. 
So I think real like collectible

901
00:49:08,850 --> 00:49:11,130
asset trading is just going to 
explode. 

902
00:49:11,170 --> 00:49:16,490
I think like, yeah, Pokémon 
cards, cars are anything which 

903
00:49:16,490 --> 00:49:19,410
was hard to transport, hard to 
store. 

904
00:49:20,810 --> 00:49:24,370
I think you'll see like an 
explosive growth in in that kind

905
00:49:24,370 --> 00:49:26,210
of stuff and I think that's 
really exciting because. 

906
00:49:26,520 --> 00:49:29,160
I again the books. 
You could even tokenize books. 

907
00:49:29,160 --> 00:49:30,360
No. 
One's no. 

908
00:49:30,640 --> 00:49:34,560
One's I'm kidding you. 
I also Are you a Emerald Life 

909
00:49:34,560 --> 00:49:36,240
collectibles person? 
Yeah. 

910
00:49:36,240 --> 00:49:36,920
Yeah. 
Big time. 

911
00:49:36,920 --> 00:49:37,640
Big time. 
Yeah. 

912
00:49:37,640 --> 00:49:39,560
You call it. 
It's like a magpie. 

913
00:49:39,560 --> 00:49:43,120
I'm watching magpie. 
Listen, I don't stop. 

914
00:49:43,120 --> 00:49:45,560
No one. 
Wants to stop Excited. 

915
00:49:45,560 --> 00:49:49,120
I'm excited about the world 
going into more. 

916
00:49:49,640 --> 00:49:54,640
Digital collectible era, because
I travel a lot and I I'm like 

917
00:49:54,640 --> 00:49:58,520
very like nomadic. 
So like for me, I have a bunch 

918
00:49:58,520 --> 00:50:01,000
of stuff like everywhere as you 
could see. 

919
00:50:01,160 --> 00:50:04,320
So the fact that soon, 
especially with like the Apple 

920
00:50:04,320 --> 00:50:09,000
Reality Pro, that all of the 
collectibles that like all want 

921
00:50:09,000 --> 00:50:12,910
will be pretty much just like. 
On my headset or around me, you 

922
00:50:12,910 --> 00:50:15,950
know, So that's the future that 
I'm excited about or even my art

923
00:50:16,070 --> 00:50:18,150
because it's like there's so 
much art and things that I want 

924
00:50:18,150 --> 00:50:22,070
to collect, but I'm like, oh, 
well, I only have my whole life 

925
00:50:22,070 --> 00:50:25,870
in like 2 suitcases, so where's 
this going to be room for? 

926
00:50:25,870 --> 00:50:30,190
And I think a lot of people are,
are actually in that that vibe, 

927
00:50:30,870 --> 00:50:32,590
you know, in like this 
generation. 

928
00:50:32,590 --> 00:50:36,270
So I know that it's just, you 
know, collectibles in general, 

929
00:50:36,270 --> 00:50:39,460
the the whole energy. 
And consciousness of 

930
00:50:39,460 --> 00:50:41,700
collectibles is not going 
anywhere. 

931
00:50:41,820 --> 00:50:46,780
It's only just gonna like, you 
know, trans and mute into, you 

932
00:50:46,780 --> 00:50:50,220
know, the digital. 
So yeah, I'm all for like 

933
00:50:50,220 --> 00:50:52,900
collectibles having value. 
Like it's only more bullish for 

934
00:50:52,900 --> 00:50:54,620
us. 
So, you know, send me over that 

935
00:50:54,620 --> 00:50:55,660
wine. 
You know, I'm saying. 

936
00:50:56,260 --> 00:50:59,500
And I actually think, I know I'm
being extra boring. 

937
00:50:59,500 --> 00:51:01,300
It's just like a finance person 
here. 

938
00:51:01,300 --> 00:51:03,380
But like, I think there's money 
to be made in this as well. 

939
00:51:03,380 --> 00:51:06,860
Like people clearly have these 
like crazy sets of collectibles 

940
00:51:06,860 --> 00:51:10,680
which they decided to blow their
savings on and spend all that 

941
00:51:10,680 --> 00:51:13,160
money on because people love 
this stuff and then they want to

942
00:51:13,160 --> 00:51:14,160
take money out. 
So you like. 

943
00:51:14,200 --> 00:51:17,880
And clearly these loans are 
quite high interest, like it's 

944
00:51:17,880 --> 00:51:20,640
like 1020%. 
So would you rather put it in 

945
00:51:20,640 --> 00:51:24,640
your savings account at like 3% 
in the US? 

946
00:51:24,680 --> 00:51:27,880
Or would you rather you know 
lend against somebody with a 

947
00:51:28,000 --> 00:51:33,200
collection of the tax or like 
fucking Richard Milly's or you 

948
00:51:33,200 --> 00:51:38,430
know pretty dodgy Harry Potter 
books and get and get 10 to 25% 

949
00:51:38,430 --> 00:51:41,830
interest like I think I think 
people might they don't mind if 

950
00:51:41,830 --> 00:51:44,270
the person defaults you end up 
with the with the with the 

951
00:51:44,270 --> 00:51:47,590
assets and they're often done in
pretty favorable terms in terms 

952
00:51:47,590 --> 00:51:50,190
of like how much you're 
protected as well if if that 

953
00:51:50,190 --> 00:51:53,150
person defaults. 
So I think I think this is this 

954
00:51:53,150 --> 00:51:56,310
is really really really good use
use case of blockchain. 

955
00:51:56,310 --> 00:51:59,310
I think this is the sort of 
stuff that if, if I was to say 

956
00:51:59,310 --> 00:52:06,040
what underpins the next rally 
over, like the whole of the next

957
00:52:06,040 --> 00:52:08,240
bull run for blockchain, it's 
this sort of stuff. 

958
00:52:08,520 --> 00:52:12,080
It's not the stuff that we have 
to explain to our friends, our 

959
00:52:12,080 --> 00:52:15,120
relatives, like, Oh no, it's 
like you're buying a digital 

960
00:52:15,120 --> 00:52:16,720
picture. 
Like you got to understand. 

961
00:52:16,720 --> 00:52:19,040
It's like digital identity. 
It's like, no, like they will 

962
00:52:19,040 --> 00:52:21,800
understand this. 
They will understand this very, 

963
00:52:21,800 --> 00:52:24,240
very quickly. 
I think it's just a different 

964
00:52:24,240 --> 00:52:27,160
way for people to do current 
transactions in a much better 

965
00:52:27,160 --> 00:52:27,960
way. 
Instead of going down to a 

966
00:52:27,960 --> 00:52:32,060
pawnbroker, you can go online 
and find a better loan and this 

967
00:52:32,060 --> 00:52:34,340
is done in a better way rather 
than having to explain them why 

968
00:52:34,340 --> 00:52:37,140
Monkey J Pug is valuable. 
So I think this is this is the 

969
00:52:37,140 --> 00:52:39,220
sort of stuff which we're 
reporting on a lot more Like I 

970
00:52:39,220 --> 00:52:41,460
said rwa dot XYZ is a really 
good website for it. 

971
00:52:41,780 --> 00:52:45,740
Arcade which Cyrus is a is a I 
believe an advisor for has been 

972
00:52:45,740 --> 00:52:47,140
doing a lot of these sort of 
loans as well. 

973
00:52:47,140 --> 00:52:50,300
So check out that I think this 
is I think this is going to be a

974
00:52:50,300 --> 00:52:51,900
real big, big move for the 
space. 

975
00:52:52,500 --> 00:52:54,140
I think those are the top five 
things that we were going to 

976
00:52:54,140 --> 00:52:55,740
talk about. 
The only other thing I want to 

977
00:52:55,900 --> 00:52:58,020
talk about was I don't know if 
you guys have been seeing what's

978
00:52:58,020 --> 00:53:00,230
been going on at Burning Man 
this year. 

979
00:53:00,710 --> 00:53:03,830
Just gonna bring it up because 
we were, you were just talking 

980
00:53:03,830 --> 00:53:07,230
about like, you know kind of 
exchanging something for another

981
00:53:07,230 --> 00:53:08,870
you know, like collectibles, 
like, whatever. 

982
00:53:08,870 --> 00:53:12,030
And I know that Burning Man's 
whole thing where it's like 

983
00:53:12,190 --> 00:53:15,350
there's no money. 
It's only like you you use your,

984
00:53:15,550 --> 00:53:17,870
your, whatever you have to 
exchange. 

985
00:53:18,150 --> 00:53:23,590
So yeah, it ain't working out 
for Burning Man this year while 

986
00:53:23,830 --> 00:53:28,250
Room is not along the timeline. 
You give me Ebola, everyone's 

987
00:53:28,250 --> 00:53:30,330
saying there's a bowler there. 
Everyone's saying that, like 

988
00:53:30,330 --> 00:53:32,890
they kept, kept there under 
like, duress. 

989
00:53:33,370 --> 00:53:35,370
Apparently it's gonna rain 
again, so they're gonna be there

990
00:53:35,370 --> 00:53:37,410
for days. 
Although I guess. 

991
00:53:38,490 --> 00:53:41,690
Why is no one like coming? 
I thought it's all like. 

992
00:53:43,160 --> 00:53:45,400
No, there's no. 
What about a helicopter plane? 

993
00:53:45,520 --> 00:53:50,200
No, I saw a video of Diplo. 
You're just following everyone. 

994
00:53:50,360 --> 00:53:54,960
You're just like follow follow. 
This is Diplo and Chris Rock 

995
00:53:55,120 --> 00:53:59,480
managing to get out of Burning 
Man on the back of a truck 

996
00:53:59,480 --> 00:54:04,780
seeming me, he says. 
I think he said it just walked 

997
00:54:04,780 --> 00:54:07,420
five miles in the mud out of 
Burning Man with Chris Rock and 

998
00:54:07,420 --> 00:54:09,580
a fan picked us up. 
It looks like the elites. 

999
00:54:09,580 --> 00:54:13,300
If you're proper elite like 
Diplo, Chris Rock level you can 

1000
00:54:13,300 --> 00:54:15,940
get out. 
But for everyone else, it looks 

1001
00:54:15,940 --> 00:54:20,150
like 75,000 people. 
They might be stuck. 

1002
00:54:20,430 --> 00:54:23,310
And The thing is, it's literally
in the middle of nowhere, like. 

1003
00:54:24,670 --> 00:54:26,750
It's so in the middle of 
nowhere, buddy, man. 

1004
00:54:26,830 --> 00:54:29,710
You look at it on a map, there's
just nothing. 

1005
00:54:29,750 --> 00:54:32,750
Even in the airport itself. 
It's like a makeshift airport, 

1006
00:54:32,790 --> 00:54:33,990
only really gets used once a 
year. 

1007
00:54:33,990 --> 00:54:35,750
So it is. 
Yeah, the. 

1008
00:54:36,210 --> 00:54:38,650
The runway is mud, so it can't, 
they can't land that. 

1009
00:54:38,810 --> 00:54:41,690
Usually it's dry, so then small 
planes can land, but right now 

1010
00:54:41,730 --> 00:54:44,050
the runway is totally out of of 
action. 

1011
00:54:44,330 --> 00:54:46,690
The other thing which is quite 
interesting, which I saw, which 

1012
00:54:46,690 --> 00:54:52,330
is like quite bad, is so it's 
actually like a prehistoric lake

1013
00:54:52,490 --> 00:54:55,490
is it's like a lake bed 
basically, where where the 

1014
00:54:55,490 --> 00:54:58,290
Burning Man is not not a desert,
but well, it's now a desert, but

1015
00:54:58,290 --> 00:55:02,690
it used to be a lake and the 
silt is like very alkaline. 

1016
00:55:03,120 --> 00:55:08,440
So when it gets wet and gets on 
your skin, it basically extracts

1017
00:55:08,480 --> 00:55:11,320
like every single bit of 
moisture from your skin. 

1018
00:55:11,320 --> 00:55:14,160
If you leave it on there, like, 
it's really fucking bad. 

1019
00:55:14,400 --> 00:55:17,440
Like the pictures of people like
swimming in the mud and stuff. 

1020
00:55:18,080 --> 00:55:21,240
I saw this thing where this 
health lady was like, if those 

1021
00:55:21,240 --> 00:55:23,760
people are moisturized, they're 
going to have like, scars all 

1022
00:55:23,760 --> 00:55:26,240
the moisturized for months. 
They're going to have scars all 

1023
00:55:26,240 --> 00:55:28,560
over their body because the 
alkaline is going to like 

1024
00:55:28,560 --> 00:55:32,000
extract everything from them and
make their skin like blister and

1025
00:55:32,000 --> 00:55:33,600
crack. 
So it's like. 

1026
00:55:33,920 --> 00:55:35,920
Pretty bad. 
All the hippies right now are 

1027
00:55:35,920 --> 00:55:39,120
just like, this is like, I would
be there. 

1028
00:55:39,200 --> 00:55:40,600
You know what? 
I would be one of those happy 

1029
00:55:40,600 --> 00:55:43,120
like, Oh my God, the mud. 
It's so moisturizing and like, 

1030
00:55:43,120 --> 00:55:47,040
put it off exactly, yeah. 
My God. 

1031
00:55:47,800 --> 00:55:51,040
Yeah, it's the opposite, which 
is pretty bad, but it's I 

1032
00:55:51,040 --> 00:55:53,400
tweeted this morning, actually. 
Like, this happens every year in

1033
00:55:53,400 --> 00:55:55,960
Glastonbury and it's fine. 
So. 

1034
00:55:56,590 --> 00:55:58,030
I don't know. 
Yeah, but it's not like you just

1035
00:55:58,030 --> 00:56:04,390
said it in the mid. 
But yeah, that's probably, yeah,

1036
00:56:04,390 --> 00:56:05,390
you can't even land a 
helicopter. 

1037
00:55:58,790 --> 00:56:01,550
The last three is also near a 
civilization. 

1038
00:56:01,550 --> 00:56:06,230
I would say than. 
People have been trying to get 

1039
00:56:06,230 --> 00:56:07,470
helicopters in. 
They can't even land 

1040
00:56:07,470 --> 00:56:10,150
helicopters. 
So yeah, this is going to turn 

1041
00:56:10,150 --> 00:56:14,510
into a humanitarian disaster, 
which I am all here for. 

1042
00:56:14,510 --> 00:56:18,310
Like I really want to see. 
Lando since what are you such a 

1043
00:56:18,310 --> 00:56:22,430
like I'm all for it. 
I'm going to see this. 

1044
00:56:22,710 --> 00:56:24,630
I've got the pop point out like 
I think. 

1045
00:56:24,750 --> 00:56:27,690
I think I'm just saying what the
people are also thinking. 

1046
00:56:28,530 --> 00:56:29,730
Anyway, let's see how that 
develop. 

1047
00:56:29,850 --> 00:56:31,410
That develops tomorrow. 
We're going to be doing this for

1048
00:56:31,410 --> 00:56:33,250
the week. 
Ashley ran a little bit over. 

1049
00:56:33,250 --> 00:56:35,410
I know Sims was trying to get 
us. 

1050
00:56:35,490 --> 00:56:37,570
Well, I was trying to get this a
30 to 45 minute show. 

1051
00:56:37,570 --> 00:56:39,370
It's end up being a 45 minute to
an hour show. 

1052
00:56:40,050 --> 00:56:44,050
This was this is the first 
Mando, Mika and Ashley cows take

1053
00:56:44,050 --> 00:56:46,130
over for the week. 
We're going to be doing this 

1054
00:56:46,130 --> 00:56:48,130
every single day. 
We're powered by Kraken. 

1055
00:56:49,810 --> 00:56:51,610
Thank you guys for coming. 
We will see you when. 

1056
00:56:51,650 --> 00:56:56,520
All gives me wings. 
Sorry, how do I go tomorrow?