1 00:00:00,620 --> 00:00:02,530 Well, good morning ladies and gentlemen. 2 00:00:02,540 --> 00:00:05,620 Welcome to GM Web 3. This is going to be another 3 00:00:05,630 --> 00:00:09,950 Mando takeover for Rock is on a on a private jet apparently on 4 00:00:09,960 --> 00:00:13,830 its way to Marbella right now. So we have OSF who decides? 5 00:00:13,840 --> 00:00:17,050 We have bananas tunes, The show began and we have Cows. 6 00:00:17,060 --> 00:00:20,130 This is the full Canary Labs lineup right now. 7 00:00:20,140 --> 00:00:22,510 This is basically like our morning meeting. 8 00:00:23,250 --> 00:00:25,170 We're going to go through the top five things is kind of what 9 00:00:25,180 --> 00:00:29,800 we were doing before. That was a CCI, don't know what 10 00:00:29,810 --> 00:00:32,479 do you think it was indicate indication of girth. 11 00:00:32,870 --> 00:00:37,280 Anyway, we are sponsored by Kraken NFT today. 12 00:00:37,850 --> 00:00:39,520 They're obviously pushing show for a while. 13 00:00:39,530 --> 00:00:42,400 Go check them out, cracking.com/radio. 14 00:00:42,490 --> 00:00:44,370 They are doing their own NFT marketplace. 15 00:00:44,380 --> 00:00:46,940 There are some news actually yesterday that they are also 16 00:00:46,950 --> 00:00:48,200 going to move into stock trading. 17 00:00:48,210 --> 00:00:52,590 So they are going to become the Robin Hood of crypto, which I 18 00:00:52,600 --> 00:00:56,180 think is pretty cool. So stock trading, crypto trading 19 00:00:56,250 --> 00:00:58,760 and NFT trading you can do, you can do everything over a crack 20 00:00:58,770 --> 00:01:01,680 and go check it out. We use them at Canary a lot, 21 00:01:02,680 --> 00:01:04,610 right? Should we get into things? 22 00:01:06,100 --> 00:01:07,700 Obviously it's been a bit of a better day. 23 00:01:07,710 --> 00:01:11,220 Today it looks, it looks like we've got some big green 24 00:01:11,270 --> 00:01:17,720 candles, which is looking good. Bitcoin is sitting at just over 25 00:01:17,730 --> 00:01:24,280 2600 right now, E at 1630. Everything's having a little bit 26 00:01:24,290 --> 00:01:28,300 of a little bit of a mini pump. Some of the some of the meme 27 00:01:28,310 --> 00:01:30,380 coins, alt coins are having a bit of a move. 28 00:01:30,420 --> 00:01:31,730 It didn't feel like that yesterday. 29 00:01:32,660 --> 00:01:35,800 I think we had a bit of a pump in the morning. 30 00:01:35,810 --> 00:01:37,770 They were doing the show. Everything sold off. 31 00:01:38,100 --> 00:01:40,280 Just when Gensler was talking. We'll get straight into that. 32 00:01:40,290 --> 00:01:41,940 So what? He actually said. 33 00:01:42,660 --> 00:01:44,520 Honest. I think he looked kind of like 34 00:01:44,530 --> 00:01:47,670 an idiot. Again, he went in front of. 35 00:01:49,340 --> 00:01:50,610 He definitely got grilled this time. 36 00:01:50,620 --> 00:01:55,070 So there was a bunch of senators, I believe, and 37 00:01:55,110 --> 00:01:57,950 congressmen who basically grilled him for what he was 38 00:01:57,960 --> 00:02:02,120 doing, saying he needs to come up with some more legislation. 39 00:02:02,980 --> 00:02:05,470 He was grilled about, firstly, about whether Bitcoin was a 40 00:02:05,480 --> 00:02:10,130 security. Um, he he kind of trying to 41 00:02:10,139 --> 00:02:12,770 squirm out of it, but eventually did say that Bitcoin is not a 42 00:02:12,780 --> 00:02:15,450 security, but he wouldn't class it as a commodity. 43 00:02:16,240 --> 00:02:20,730 He then went on to kind of say that tokenization of an asset 44 00:02:20,780 --> 00:02:22,390 equals securitization of an asset. 45 00:02:22,400 --> 00:02:26,820 So he was asked is our Pokémon cards security? 46 00:02:27,070 --> 00:02:29,840 Which he said no. And then he said our tokenized 47 00:02:29,850 --> 00:02:33,180 Pokémon causes security. He basically indicated that they 48 00:02:33,190 --> 00:02:35,420 might be. So his view is basically that 49 00:02:35,430 --> 00:02:38,460 tokenization equals securitization of any asset, 50 00:02:38,530 --> 00:02:43,550 which seems kind of wild and. All over the place. 51 00:02:44,800 --> 00:02:46,640 This logic is all over the place here. 52 00:02:46,850 --> 00:02:49,500 Have you have you seen this? Gary Gensler has an identical 53 00:02:49,510 --> 00:02:54,750 twin brother, Robert Gensler. I thought it was like, I thought 54 00:02:54,760 --> 00:02:56,580 it was a shit post. At first I thought this was like 55 00:02:56,590 --> 00:02:58,040 a deep fake. But it's true. 56 00:02:58,090 --> 00:03:01,140 All of this is true. He has identical from brother 57 00:03:01,150 --> 00:03:04,830 called Robert Gensler. This reminds me of, you know, 58 00:03:04,840 --> 00:03:07,990 like draw. He had his son working on the 59 00:03:08,040 --> 00:03:11,700 Bond desk in in Europe. Like he's really involved in the 60 00:03:11,710 --> 00:03:13,770 industry. I think it's pretty funny, but 61 00:03:13,780 --> 00:03:16,950 yeah, Gensler. I think a recent photo. 62 00:03:17,000 --> 00:03:20,950 Is that how badly Garry's aged? Like that must that must be a. 63 00:03:21,860 --> 00:03:24,900 Striking guess is not looking good. 64 00:03:24,910 --> 00:03:27,100 Let's be honest, I don't think he's had a good few. 65 00:03:27,150 --> 00:03:31,160 Give a few weeks. Good few months probably, given 66 00:03:31,170 --> 00:03:34,390 how all his recent court cases have gone. 67 00:03:35,260 --> 00:03:37,750 But yeah, what did you think? Firstly, let's get into the 68 00:03:37,760 --> 00:03:39,270 let's get into the most ridiculous thing. 69 00:03:39,320 --> 00:03:41,670 Is tokenization equal securitization? 70 00:03:41,680 --> 00:03:46,550 Like if I owned any asset, let's say I'm sitting in a room with a 71 00:03:46,560 --> 00:03:50,590 TV and a lamp shade. If I tokenize the ownership of 72 00:03:50,600 --> 00:03:52,590 either of those things in a physical world, is that 73 00:03:52,600 --> 00:03:55,510 securitization? Do you think the asset itself 74 00:03:55,520 --> 00:03:59,410 has to have some sort of intrinsic quality for it to, for 75 00:03:59,420 --> 00:04:02,010 it to be classed as a security in that world? 76 00:04:02,300 --> 00:04:04,390 Or yeah, what do you think of this? 77 00:04:05,590 --> 00:04:09,220 The the spirit of A. Security is to protect people 78 00:04:09,710 --> 00:04:13,740 from protect people when they're making investments. 79 00:04:14,090 --> 00:04:16,600 So it's this idea of like a promise of a return or profit 80 00:04:16,610 --> 00:04:18,200 share like et cetera, et cetera, so. 81 00:04:18,970 --> 00:04:22,390 Just like tokenizing any asset doesn't necessarily. 82 00:04:23,100 --> 00:04:26,690 Deem that asset to necessarily be an investment, but then also 83 00:04:26,700 --> 00:04:28,870 there's a question of like why would you buy it if you didn't 84 00:04:28,880 --> 00:04:32,910 think the price was gonna go up. So it's a it's a bit of a grey 85 00:04:32,920 --> 00:04:37,200 area, like I think, like the act of tokenization itself. 86 00:04:37,920 --> 00:04:41,520 Shouldn't make something a security, but then it probably 87 00:04:41,530 --> 00:04:45,410 creates characteristics of that underlying asset that make it 88 00:04:45,420 --> 00:04:48,350 very similar to security and make it open to. 89 00:04:49,520 --> 00:04:52,940 A lot of the abuse that you see of things that aren't security, 90 00:04:52,950 --> 00:04:56,600 that should be security, so I don't know as much. 91 00:04:56,610 --> 00:04:59,870 Couldn't couldn't you argue that any man made asset, any man made 92 00:04:59,880 --> 00:05:03,930 asset essentially has some level of work being done to it. 93 00:05:04,620 --> 00:05:06,750 Buy a company. Let's say any asset made by a 94 00:05:06,760 --> 00:05:10,770 company of any sort and its value could go up like that. 95 00:05:10,780 --> 00:05:15,100 Does makes any product made by a company potentially a security? 96 00:05:16,130 --> 00:05:19,060 I think his his his whole definition of it was around like 97 00:05:19,110 --> 00:05:24,020 expectation of return on the on the like effort of others which 98 00:05:24,030 --> 00:05:27,440 he thought tokenization kind of encapsulated that effort. 99 00:05:27,450 --> 00:05:30,900 But like people the company has gone to effort to make the 100 00:05:30,910 --> 00:05:33,740 Pokémon cards in the 1st place. I think his like definition of 101 00:05:33,750 --> 00:05:38,280 effort and where that's allocated is like very non 102 00:05:38,290 --> 00:05:40,960 logical like this would definitely not hold up in a 103 00:05:40,970 --> 00:05:42,320 court of law. There's no way. 104 00:05:42,330 --> 00:05:46,500 In my mind he's just like anti tokenization and sees that as 105 00:05:46,510 --> 00:05:50,080 kind of like. Creating hyper financialized 106 00:05:50,090 --> 00:05:52,460 assets regardless of the underlying, I think and that's 107 00:05:52,470 --> 00:05:55,580 why he's anti it. But the logic would not stand up 108 00:05:55,590 --> 00:05:58,340 in my mind. So maybe let's take it a step 109 00:05:58,350 --> 00:06:01,040 further because yeah, I think you guys are really smart. 110 00:06:01,130 --> 00:06:04,900 What would you say is because I agree with what you're saying 111 00:06:04,910 --> 00:06:08,760 Cali, which is that you can't just tokenize everything man 112 00:06:08,770 --> 00:06:11,600 made like crypto allows you to tokenize any asset like we 113 00:06:11,610 --> 00:06:12,960 could. Technically if I want to have 114 00:06:12,970 --> 00:06:17,200 exposure to TVs or I won't have exposed to any the value of any 115 00:06:17,210 --> 00:06:20,460 of these things, I could essentially tokenize them and 116 00:06:20,530 --> 00:06:23,960 that could be seen as like me owning that file like almost a 117 00:06:23,970 --> 00:06:28,120 derivative ownership. Would you say is like? 118 00:06:28,130 --> 00:06:33,050 Where do you draw the line on? This should be a security if 119 00:06:33,060 --> 00:06:36,420 it's been tokenized. Because I agree with my work, 120 00:06:36,430 --> 00:06:39,790 the idea of a company doing. Work equals not security. 121 00:06:39,900 --> 00:06:42,710 It's not fit for purpose. I think it's the idea that the 122 00:06:42,720 --> 00:06:45,780 company is guaranteeing your cash flow or a share of profits 123 00:06:45,790 --> 00:06:47,690 or something like that. That's what it has to be. 124 00:06:47,730 --> 00:06:49,590 And that's what it was intended to be originally. 125 00:06:49,600 --> 00:06:52,730 Yeah, because like the profiting from the work of others is where 126 00:06:52,740 --> 00:06:56,290 you like, you know, you invest in a company and other people 127 00:06:56,300 --> 00:06:59,560 work to grow that company and then it becomes worth more and 128 00:06:59,570 --> 00:07:02,090 then you sell the shares. That's where the idea of that 129 00:07:02,100 --> 00:07:05,150 comes from. Is from, like very early 130 00:07:05,160 --> 00:07:08,120 definitions. Around the structure like 131 00:07:08,130 --> 00:07:12,020 corporate structure essentially. And the corporate entity is not 132 00:07:12,030 --> 00:07:14,640 fit for purpose on a tokenization of a single asset 133 00:07:14,650 --> 00:07:16,900 and it's totally the wrong way about thinking about it. 134 00:07:16,950 --> 00:07:19,940 I think it's all about cash flows personally, whether that's 135 00:07:19,950 --> 00:07:23,440 ongoing over the life of the asset or it's at the end of the 136 00:07:23,450 --> 00:07:26,640 asset if somebody is saying we will guarantee it or we will. 137 00:07:29,530 --> 00:07:32,260 Yeah. We're going to engage in some 138 00:07:32,270 --> 00:07:36,280 enterprise to make the cash flows increase and you're going 139 00:07:36,290 --> 00:07:38,290 to get money from it. And to me, that's what was a 140 00:07:38,300 --> 00:07:40,810 good is. I agree. 141 00:07:41,040 --> 00:07:43,930 I think, I think that's it. The Securitization Act, I don't 142 00:07:43,940 --> 00:07:46,900 know when it was originally written, but it was like 1920 or 143 00:07:46,910 --> 00:07:49,030 whatever it is, it's completely outdated. 144 00:07:49,180 --> 00:07:52,410 And now we're testing it because we can now suddenly basically 145 00:07:52,460 --> 00:07:55,960 allow for many different things to or the ownership of many 146 00:07:55,970 --> 00:07:58,750 different things to trade more seamlessly with things like 147 00:07:58,760 --> 00:08:02,100 crypto. And I think it has to be some 148 00:08:02,110 --> 00:08:04,390 sort of cash flow. Like if you're Pokémon cards 149 00:08:05,010 --> 00:08:10,680 gave you access to revenue from the Pokémon Company, then that 150 00:08:10,690 --> 00:08:14,930 would make it a security in my eyes like in some way. 151 00:08:14,940 --> 00:08:19,370 But if it's just like just an item that is being created by a 152 00:08:19,380 --> 00:08:23,270 company and that item might go up if the brand value of that 153 00:08:23,280 --> 00:08:26,630 company goes up, that's not a security in my eyes. 154 00:08:26,640 --> 00:08:29,410 And I think that's where he's he's just, he's just massively 155 00:08:29,420 --> 00:08:32,000 overreaching and he just looks like an idiot like for doing it 156 00:08:32,010 --> 00:08:33,230 like. So the idea that everything in 157 00:08:33,240 --> 00:08:35,120 the world should be a security and should be under the remit of 158 00:08:35,130 --> 00:08:38,900 the SEC is just wild. I think that was the main thing. 159 00:08:38,909 --> 00:08:40,850 I came away from me. He's just, you always say it 160 00:08:40,860 --> 00:08:43,909 Cally, he's just power hungry. He's just, he's just lost his 161 00:08:43,919 --> 00:08:46,990 head with where he thinks he should be able to have power. 162 00:08:48,290 --> 00:08:50,700 How hungry. Bureaucrats overstepping their 163 00:08:50,710 --> 00:08:54,080 remit is not anything new and probably gonna be around for a 164 00:08:54,090 --> 00:08:57,200 while too. But so they'll be another one. 165 00:08:57,210 --> 00:08:59,400 And they might be more friendly or less friendly and he'll go to 166 00:08:59,410 --> 00:09:01,850 some other stupid bureaucratic job, but. 167 00:09:02,800 --> 00:09:06,070 Yeah, we're doing a little mini pump here during the show, boys. 168 00:09:06,680 --> 00:09:10,820 Bitcoin looks like it's about to head to 27 K If looks like it's 169 00:09:10,830 --> 00:09:13,330 about to head to the 1645 and put on some levered trades 170 00:09:13,340 --> 00:09:15,840 yesterday. Just thinking of beauty. 171 00:09:15,850 --> 00:09:21,500 So things are looking good for crypto today. 172 00:09:21,540 --> 00:09:24,900 There is a bit of happening across the board what you have 173 00:09:24,910 --> 00:09:27,000 seen and we'll move on to the second point here which is 174 00:09:27,010 --> 00:09:32,380 what's going on in the ETFs. So give it a bit of a broader 175 00:09:32,390 --> 00:09:34,400 time. Yesterday there was a delay 176 00:09:34,410 --> 00:09:36,180 again in some more of the Bitcoin spot ETF. 177 00:09:36,190 --> 00:09:41,380 It now looks increasingly likely that the ETH futures ETF, the 178 00:09:41,390 --> 00:09:45,880 futures ETF will be trading next week and kind of with the half 179 00:09:45,890 --> 00:09:49,580 blessing of the SEC. They seem to be OK when it's a 180 00:09:49,590 --> 00:09:53,160 derivative of something to be able to class, it's an ETF. 181 00:09:53,170 --> 00:09:58,610 So if BTC is in, the ratio is actually reversed it looks like 182 00:09:58,750 --> 00:10:00,860 over the short short term over the next week. 183 00:10:00,960 --> 00:10:05,130 So you're gonna get positive news here for for ETH if that 184 00:10:05,140 --> 00:10:08,510 futures ETF trades. Remember a few TCF won't meet 185 00:10:08,580 --> 00:10:11,370 won't mean buying up the spot, it won't mean you go out. 186 00:10:11,440 --> 00:10:15,330 There's gonna be massive buying of the spot contract because 187 00:10:15,340 --> 00:10:17,390 obviously the features that stuff is levered. 188 00:10:18,060 --> 00:10:22,510 So it probably is not going to be as people have said for the 189 00:10:22,520 --> 00:10:25,010 Bitcoin ETF, you're gonna see $20 billion move into this 190 00:10:25,020 --> 00:10:29,110 industry with the futures ETF. But it does seem to show a bit 191 00:10:29,120 --> 00:10:33,120 of a softening in the stance of the SEC, or at least their 192 00:10:33,130 --> 00:10:35,680 ability to block this sort of stuff is becoming increasingly 193 00:10:35,690 --> 00:10:39,450 incredulous. But yeah, that's a positive 194 00:10:39,460 --> 00:10:41,530 thing and we seem to be bouncing off it. 195 00:10:41,540 --> 00:10:44,640 We've been outperforming for a while, like even in that set off 196 00:10:44,650 --> 00:10:48,020 yesterday we've been outperforming yesterday. 197 00:10:48,030 --> 00:10:50,080 It really looked to look pretty bad. 198 00:10:50,090 --> 00:10:57,710 I think bond yields hit 4.6% on 10 year, oil is at 96 or Brent 199 00:10:57,720 --> 00:11:02,240 was at 96 at least and then you had the dollar, I think it's 200 00:11:02,250 --> 00:11:04,070 been up for 11 weeks straight. So we're having a bit of a 201 00:11:04,080 --> 00:11:06,910 reverse today and there's already been some positive news 202 00:11:06,980 --> 00:11:09,550 about Bitcoin and ETH. So yeah, what do you think? 203 00:11:09,560 --> 00:11:12,520 Do you think for the next, for the next month, is this going to 204 00:11:12,530 --> 00:11:15,030 be October? Is it is is October gonna be 205 00:11:15,040 --> 00:11:20,150 happening next next month? It's, it's October. 206 00:11:20,160 --> 00:11:25,230 Yeah, it's. Most of 30%, isn't it? 207 00:11:25,680 --> 00:11:27,570 Are we really trying to still pump those bags? 208 00:11:29,100 --> 00:11:32,320 Just a slip of the tongue. There slip the slip of the 209 00:11:32,330 --> 00:11:34,350 tongue. Ohh it was having. 210 00:11:34,360 --> 00:11:35,640 A good day? No? 211 00:11:35,650 --> 00:11:39,210 It was nice. Let him have it right. 212 00:11:39,220 --> 00:11:42,280 Just let him have it. So definitely. 213 00:11:42,290 --> 00:11:44,960 It's a. Matter that's down 300% the last 214 00:11:44,970 --> 00:11:48,240 few days. It's not. 60% today, alright 215 00:11:50,040 --> 00:11:51,540 man. Lots of these coins having to 216 00:11:51,550 --> 00:11:53,970 move some of the some of the ones that were talked about for 217 00:11:53,980 --> 00:12:00,940 a while local in ruin make. A welcoming this seems like the 218 00:12:00,950 --> 00:12:04,960 most obvious short to me. Does that make myself like but 219 00:12:04,970 --> 00:12:07,330 it's but it's been a bit of a short squeeze and they seem to 220 00:12:07,340 --> 00:12:09,880 be signing up half of South America at the moment. 221 00:12:09,890 --> 00:12:14,650 So crazy amount of adoption in certain geographies. 222 00:12:14,660 --> 00:12:17,560 So I'm sure all those people are gonna hold it forever and use it 223 00:12:17,570 --> 00:12:20,940 for useful things, not just dump it for dollars. 224 00:12:21,230 --> 00:12:29,620 But well, we can get into point #3, which is AI, and Sam Altman 225 00:12:29,630 --> 00:12:32,390 obviously is the. Hallie loves the. 226 00:12:36,380 --> 00:12:37,950 The most valuable nonprofit ever? 227 00:12:37,960 --> 00:12:41,290 Isn't it the most valuable nonprofit ever? 228 00:12:41,340 --> 00:12:46,760 Elon Musk got destroyed anyway, Quite a lot of changes. 229 00:12:46,770 --> 00:12:49,730 Well, quite a lot of news happening in the AI yesterday. 230 00:12:51,390 --> 00:12:53,800 While a lot of the the major tech stocks were lower, 231 00:12:53,810 --> 00:12:56,810 particularly Apple was lower, there was a rumour which seems 232 00:12:56,820 --> 00:13:00,160 to be more than a rumour at Open AI is looking to raise a billion 233 00:13:00,170 --> 00:13:07,070 dollars with SoftBank which is the go hard or go home tech VC 234 00:13:07,240 --> 00:13:09,040 collapsing track records for those. 235 00:13:10,560 --> 00:13:12,800 Of banking at the top. It's so classic. 236 00:13:12,990 --> 00:13:16,840 Then they go, they're going in at I think the last valuation 237 00:13:16,850 --> 00:13:21,660 for Open AI was 20 billion when Microsoft put in their money 20 238 00:13:21,670 --> 00:13:23,940 or 30. SoftBank have going in at cool 239 00:13:23,950 --> 00:13:26,090 90 billion. So they've decided they want to 240 00:13:26,100 --> 00:13:31,580 lift one about 4X from the last valuation 3 months ago, even 241 00:13:31,590 --> 00:13:35,830 though ChatGPT use itself is down, as Kelly says, and they 242 00:13:35,840 --> 00:13:38,490 want to start to develop a phone, it looks like. 243 00:13:38,500 --> 00:13:43,270 So they want to develop the AI phone to challenge the iPhone. 244 00:13:43,340 --> 00:13:47,300 That was the big headline. This is obviously developing 245 00:13:48,240 --> 00:13:50,280 SoftBank. As we've said before, like 246 00:13:50,290 --> 00:13:52,280 whenever SoftBank get involved in something they're involved 247 00:13:52,290 --> 00:13:55,670 in, we work, they were involved in the recent ARM IPO, they've 248 00:13:55,680 --> 00:13:59,260 been involved in. I mean the guy who runs it 249 00:14:00,290 --> 00:14:05,380 obviously Sam, he basically did his nuts in 2001 tech bubble, 250 00:14:05,390 --> 00:14:09,780 but then managed to own a few companies which did incredibly 251 00:14:09,790 --> 00:14:11,700 well. I think Alibaba was the main one 252 00:14:11,810 --> 00:14:13,630 and he's basically. The main player here. 253 00:14:14,680 --> 00:14:15,800 Yeah, And he's gonna do it again. 254 00:14:15,810 --> 00:14:17,700 He's gonna lose all his money and go for it again. 255 00:14:18,270 --> 00:14:21,140 But he's he's been on the coast trying to be on the cusp of tech 256 00:14:21,150 --> 00:14:24,160 for, for a while anyway. He's gonna try and get involved. 257 00:14:24,490 --> 00:14:26,620 90 billion for Open AI. What do you think? 258 00:14:29,320 --> 00:14:32,180 Feels toppy, doesn't it? Well, you get it. 259 00:14:32,190 --> 00:14:34,300 What are you gonna do 10X on that hundred X? 260 00:14:34,310 --> 00:14:35,710 Like? Yeah, sure. 261 00:14:35,720 --> 00:14:37,900 They'll just be the most like valuable company ever. 262 00:14:37,910 --> 00:14:40,290 Like. Although one thing I would say 263 00:14:40,300 --> 00:14:44,690 well apples worth 2.5 trillion. So yeah, for about 2 trillion. 264 00:14:46,020 --> 00:14:48,750 The 20X. Is the big issue? 265 00:14:48,760 --> 00:14:51,950 Is the video be? Worth more than Open AI and Open 266 00:14:51,960 --> 00:14:55,870 AI caused the NVIDIA Rally. We're going to look back on six 267 00:14:55,880 --> 00:14:59,950 months and just realise that all of this is like so toppy. 268 00:15:01,590 --> 00:15:05,460 I think I do one one I think AI is. 269 00:15:05,650 --> 00:15:08,500 I think it's not toppy. I think it's like, you know what 270 00:15:08,510 --> 00:15:12,310 it's like the Internet and like. I don't know like. 271 00:15:12,610 --> 00:15:14,980 The Internet was still toppy in 2002, right? 272 00:15:14,990 --> 00:15:17,880 All of those were like how whatever percentage of those 273 00:15:17,890 --> 00:15:22,100 companies went from a a big valuation to 0. 274 00:15:22,710 --> 00:15:25,400 So do we still have the Internet and it could be the same here? 275 00:15:26,410 --> 00:15:29,180 One thing I would say is that I actually think I think more and 276 00:15:29,190 --> 00:15:33,680 more that apples spot. As like the go to hardware and 277 00:15:33,690 --> 00:15:37,750 then go to. Kind of desktop OS or whatever 278 00:15:37,760 --> 00:15:41,870 for like people who are not corporates who use Microsoft, I 279 00:15:41,880 --> 00:15:44,980 think that's up for a challenge. There's no innovation or there's 280 00:15:44,990 --> 00:15:48,270 very limited innovation happening at that company in 281 00:15:48,280 --> 00:15:51,630 between product cycles. It's so mature. 282 00:15:51,640 --> 00:15:55,610 I think it's probably bloated. Every corporate, every massive 283 00:15:55,620 --> 00:15:58,530 corporate goes through this phase of like the initial and 284 00:15:58,540 --> 00:16:02,010 have found a phase and then that energy would dies in Waynes and 285 00:16:02,060 --> 00:16:04,750 I think Apple is going through that right now and I think. 286 00:16:05,660 --> 00:16:10,270 Is probably as ripe for being challenged as it has ever been 287 00:16:10,400 --> 00:16:13,110 currently. I think that's bad for NASDAQ. 288 00:16:14,340 --> 00:16:19,850 Generally. So yeah, that that, that one 289 00:16:19,860 --> 00:16:21,360 piece of this I actually believe in. 290 00:16:22,570 --> 00:16:25,940 I think that's very fair. I think Apple has a dominant, I 291 00:16:25,950 --> 00:16:28,110 mean, it has like entrenched dominance things like the App 292 00:16:28,120 --> 00:16:32,140 Store and hardware, But a lot of people have tried phones and it 293 00:16:32,150 --> 00:16:34,710 hasn't really worked. Are you really gonna buy a phone 294 00:16:34,720 --> 00:16:36,620 from Sam Altman? He kind of scares the crap out 295 00:16:36,630 --> 00:16:39,680 of me. No, exactly right. 296 00:16:39,730 --> 00:16:42,670 Exactly. He's now Steve Jobs, right? 297 00:16:42,750 --> 00:16:47,740 Anyway, the other piece of news was that that there are other 298 00:16:47,790 --> 00:16:56,560 tech billionaire Zuckerberg. He came out with new ray ban 299 00:16:56,570 --> 00:16:57,900 glasses. Have you seen these? 300 00:16:58,860 --> 00:17:02,960 These are these new glasses that their version basically of the 301 00:17:03,810 --> 00:17:08,200 of the wearable tech market. He did a let me see if I can get 302 00:17:08,210 --> 00:17:11,060 it up. Or maybe over you can. 303 00:17:11,550 --> 00:17:14,940 You guys both in the same hotel room right now, just like you're 304 00:17:14,950 --> 00:17:17,270 in the bedroom? Yeah, I was in the bathroom. 305 00:17:18,440 --> 00:17:22,500 That's, that's correct. Bathroom on the balcony, Yeah, I 306 00:17:22,510 --> 00:17:24,950 mean you can see the reflection, but kind of a weird bathroom 307 00:17:24,960 --> 00:17:32,300 pieces sitting. Sitting it's on the toilet doing 308 00:17:32,310 --> 00:17:36,500 the show. Yeah, no, yeah, that's not 309 00:17:36,510 --> 00:17:40,830 what's happening. But the yeah, that was with the 310 00:17:40,840 --> 00:17:42,290 show. Now I just actually can see 311 00:17:42,300 --> 00:17:44,630 Carly, like how that might look like. 312 00:17:44,640 --> 00:17:46,930 It looks like it's like a window out. 313 00:17:48,760 --> 00:17:52,310 Anyway, yeah, he and he's and you're gonna get AI tools now. 314 00:17:52,320 --> 00:17:55,990 Coming to Facebook, Instagram, WhatsApp. 315 00:17:56,300 --> 00:18:01,160 So all of these texts Bros, big move into AI. 316 00:18:01,470 --> 00:18:03,430 No mention of the Metaverse anywhere. 317 00:18:04,190 --> 00:18:06,460 Um, what do you guys think? Is this? 318 00:18:06,510 --> 00:18:12,210 Is this everyone chasing the latest trend or is this is this 319 00:18:12,220 --> 00:18:17,310 bigger than the Internet, Carly? The only AI tool we need back is 320 00:18:17,320 --> 00:18:21,830 Clippy. What do you mean the guy from 321 00:18:21,840 --> 00:18:26,970 Microsoft Word? Yeah, Clippy, yeah. 322 00:18:28,710 --> 00:18:30,400 Yeah, OK, I see you're writing a letter. 323 00:18:30,410 --> 00:18:33,120 Do you need help? There was there was talk about 324 00:18:33,130 --> 00:18:35,450 him coming back because now that they could give him a I, he 325 00:18:35,460 --> 00:18:37,660 would actually be smart and make good suggestions. 326 00:18:37,670 --> 00:18:41,130 But. Yeah, look, I think it AI is not 327 00:18:41,190 --> 00:18:44,880 a fad. It's just an increase in kind 328 00:18:44,890 --> 00:18:47,230 of. Competing power, I guess, And 329 00:18:47,240 --> 00:18:50,340 what what's possible with stuff? I don't know if it's this like. 330 00:18:55,000 --> 00:18:56,630 Kind of. I don't know if it's going to 331 00:18:56,640 --> 00:18:58,530 have this transformational impact that a lot of people 332 00:18:58,540 --> 00:19:02,500 think it will, but it's definitely an increase in what 333 00:19:02,510 --> 00:19:05,980 people can do with computing. And so all kind of software 334 00:19:05,990 --> 00:19:08,510 manufacturers and hardware manufacturers and everybody if 335 00:19:08,520 --> 00:19:11,540 they're not. Exploring it and playing with it 336 00:19:11,600 --> 00:19:14,180 and. Integrating it into their 337 00:19:14,190 --> 00:19:16,170 products, then they're gonna fall behind. 338 00:19:16,350 --> 00:19:18,900 So you kind of have to chase it, but I don't know if it's a fad 339 00:19:18,910 --> 00:19:20,680 or if it's just like one of those. 340 00:19:20,690 --> 00:19:24,460 It's like upgrading from. Like previous iterations of 341 00:19:24,470 --> 00:19:26,460 chips and new iterations of chips, it's just something you 342 00:19:26,470 --> 00:19:27,650 gotta do while you're gonna fall behind. 343 00:19:29,280 --> 00:19:31,870 Have you seen the terminology that they've started to use? 344 00:19:31,920 --> 00:19:33,990 So Sam Altman's been called out on this quite a few times 345 00:19:34,000 --> 00:19:37,790 because he keeps on referring to taking a I to be the median 346 00:19:37,800 --> 00:19:41,960 human, keeps on referring to people as like a median human, 347 00:19:42,020 --> 00:19:45,340 as an on your spectrum of intelligence. 348 00:19:45,460 --> 00:19:48,320 And everyone's like, this is like a really creepy way of 349 00:19:48,480 --> 00:19:51,150 describing people. Like the concept that we are 350 00:19:51,160 --> 00:19:54,590 just like, oh, you're a medium, or you're a suboptimal or you're 351 00:19:54,700 --> 00:20:00,060 above optimal human. He gives me the creeps big time. 352 00:20:01,110 --> 00:20:03,180 He's not a real. Test you see, he's he's 353 00:20:03,190 --> 00:20:04,840 something. Something yourself. 354 00:20:05,290 --> 00:20:07,100 Would you class yourself as a median human? 355 00:20:10,380 --> 00:20:11,150 What about? Yourself. 356 00:20:11,160 --> 00:20:15,100 I don't even know. Yeah, you're amazing. 357 00:20:15,710 --> 00:20:17,890 Yeah, that's all. Hope he says. 358 00:20:17,900 --> 00:20:21,650 He basically wants to help replace the median human in the 359 00:20:21,690 --> 00:20:24,060 in the workplace. Can you imagine if your boss 360 00:20:24,070 --> 00:20:27,280 came to you and said, yeah, we're gonna replace you because 361 00:20:27,290 --> 00:20:29,540 you are not. You don't quite make the median 362 00:20:29,550 --> 00:20:32,940 human. So we're bringing in AI bot to 363 00:20:35,530 --> 00:20:39,060 just it's just above, above median humans and just bots. 364 00:20:41,780 --> 00:20:43,590 Yeah, I thought I saw a thing the other day. 365 00:20:43,600 --> 00:20:45,860 They're doing that on the in the police force as well, bringing 366 00:20:45,870 --> 00:20:48,450 like these these AI bots to like replace policemen. 367 00:20:50,000 --> 00:20:55,550 That way on the streets, yeah. So they they they already had 368 00:20:55,560 --> 00:20:57,820 like the, the dock. They already had like the dogs, 369 00:20:58,010 --> 00:21:02,080 you know, like the, the. Dog Ohh yeah yeah, the robot run 370 00:21:02,090 --> 00:21:04,480 into buildings. The run into buildings and save 371 00:21:04,490 --> 00:21:06,340 people and actually like, who the fuck knows what they're 372 00:21:06,350 --> 00:21:08,200 doing with them? They're bringing in these other 373 00:21:08,210 --> 00:21:10,340 ones which are meant to, like, replace people in, like, the 374 00:21:10,350 --> 00:21:15,770 subway system. And I mean, if you're a 375 00:21:15,780 --> 00:21:17,730 policeman, like, why not? Right? 376 00:21:17,740 --> 00:21:20,570 Like, imagine being a policeman right now in America. 377 00:21:20,640 --> 00:21:22,130 Must be pretty tough. So the. 378 00:21:22,140 --> 00:21:23,740 Idea of yeah, they need all the help they can get. 379 00:21:24,740 --> 00:21:29,470 Bringing in a a I bot kind of feels like, why not? 380 00:21:29,620 --> 00:21:32,130 It's probably gonna be easier for your life anyway. 381 00:21:32,200 --> 00:21:34,550 Bots are going to start replacing median humans across 382 00:21:34,560 --> 00:21:37,350 the workplace. Yeah, just bow down to them. 383 00:21:37,410 --> 00:21:40,010 Let's hope we are all above median. 384 00:21:41,990 --> 00:21:45,000 What else did I put as my main points today? 385 00:21:46,390 --> 00:21:50,970 You guys got up to last night. We went from, we went for a 386 00:21:50,980 --> 00:21:53,250 romantic dinner. Like every single time, me and 387 00:21:53,260 --> 00:21:54,770 calling out for dinner, they always ask. 388 00:21:54,880 --> 00:21:56,790 It was like, oh, it's so romantic. 389 00:21:56,800 --> 00:21:58,070 Here. Carly makes a really awkward 390 00:21:58,080 --> 00:22:00,330 joke, like we're not together. He's always like, yeah, it's a 391 00:22:00,340 --> 00:22:01,780 really romantic spot, but we're not together. 392 00:22:01,790 --> 00:22:04,730 And they didn't even ask. Like 2 guys can just go for 393 00:22:04,740 --> 00:22:08,820 dinner and it not be a day. I didn't say that, but whatever. 394 00:22:10,270 --> 00:22:12,870 Content of the show. We're we're not together, but we 395 00:22:12,880 --> 00:22:14,190 are sleeping in the same double bed. 396 00:22:14,200 --> 00:22:18,570 But we're definitely anyway. The next points I have for the 397 00:22:18,580 --> 00:22:22,450 show were Xbox and GTA for to have crypto. 398 00:22:23,420 --> 00:22:25,110 There are two rumours at this stage. 399 00:22:25,240 --> 00:22:31,420 So the first rumour is that Box has been exploring A crypto 400 00:22:31,430 --> 00:22:35,020 wallet for or sorry, Microsoft has been exploring an crypto 401 00:22:35,030 --> 00:22:38,420 wallet for Xbox, which in my eyes would be huge. 402 00:22:38,570 --> 00:22:43,740 I think they have hundreds of millions of users, Xbox as in 403 00:22:44,030 --> 00:22:48,580 users even of their monthly subscription platform and the 404 00:22:48,590 --> 00:22:52,380 idea is that they might be integrating web 3 wallets. 405 00:22:52,450 --> 00:22:56,220 We already saw things like Meta Mask of Gone to try and 406 00:22:56,230 --> 00:22:58,320 integrate themselves in the gaming infrastructure with 407 00:22:58,330 --> 00:23:03,730 things like Unity, but they they also might be making their own. 408 00:23:03,970 --> 00:23:08,310 And then the second one was that, was that what we're gonna 409 00:23:08,320 --> 00:23:11,800 see a token potentially in the new GTA6 games. 410 00:23:11,810 --> 00:23:16,050 So GTA6 has been out for in development for nearly ten years 411 00:23:16,060 --> 00:23:17,500 now. I think that's when the last 412 00:23:17,510 --> 00:23:20,300 GTA5 game was out. Everyone's been like, when the 413 00:23:20,310 --> 00:23:23,750 hell is this thing coming out? People have said maybe 414 00:23:23,760 --> 00:23:29,870 2024252025 is the most likely, but yeah, they could bring in a 415 00:23:29,880 --> 00:23:33,320 token for GTA. Some like talk about digital 416 00:23:33,330 --> 00:23:35,660 collectibles, but what do you think? 417 00:23:35,670 --> 00:23:40,180 Is that where we get the aha moment and we bring on just 418 00:23:40,490 --> 00:23:42,660 hundreds of millions of users? We have the coin. 419 00:23:43,010 --> 00:23:45,800 Well, the base guy yesterday saying what's going on, a 420 00:23:45,810 --> 00:23:49,060 billion different people. I mean, GTA, how many people 421 00:23:49,070 --> 00:23:50,700 play GTA? It must be hundreds. 422 00:23:50,710 --> 00:23:53,940 Of millions played online. Did you guys play GTA Online? 423 00:23:53,950 --> 00:23:56,360 I never played it. I was like, online. 424 00:23:56,370 --> 00:23:59,180 I love the game. I never played it online. 425 00:23:59,190 --> 00:24:02,450 I think it was. Maybe a different segment of the 426 00:24:02,460 --> 00:24:05,750 market to the Call of Duty guys. First person versus third 427 00:24:05,760 --> 00:24:10,090 person, I guess, but. But yeah, I I didn't actually 428 00:24:10,100 --> 00:24:12,930 know it had an online game. But everybody loves GTA. 429 00:24:12,940 --> 00:24:16,400 Everybody Loves is kind of like a second life where you can do 430 00:24:16,410 --> 00:24:21,100 whatever you want. I don't and like it's it's so 431 00:24:21,110 --> 00:24:24,660 much. Change going that people, yeah. 432 00:24:26,950 --> 00:24:34,230 Well, yeah. That's what people used to do. 433 00:24:35,230 --> 00:24:37,710 It's just so matter of fact. Well, yeah, yeah, that's what I 434 00:24:37,720 --> 00:24:42,730 do like doing, yeah, I think. But like it seems like a game 435 00:24:42,740 --> 00:24:45,490 which would suit a. Currency because there's money 436 00:24:45,500 --> 00:24:47,330 involved people. Exactly right. 437 00:24:47,400 --> 00:24:50,410 It is proper. If we talk about what is a 438 00:24:50,420 --> 00:24:53,240 metaverse or what people, I think most people would think of 439 00:24:53,250 --> 00:24:56,050 things like GTA. You have basically a second life 440 00:24:56,060 --> 00:24:59,170 where you either choose to change or people you don't and 441 00:24:59,560 --> 00:25:02,830 you would want to have money. That's that. 442 00:25:04,000 --> 00:25:05,350 Yeah, yeah. Well, like there's, I don't 443 00:25:05,360 --> 00:25:07,470 know, there's just a lot of freedom in that game. 444 00:25:07,480 --> 00:25:10,050 So there's freedom to like set up your own missions, pay people 445 00:25:10,060 --> 00:25:13,130 to do stuff for you, do your own thing, earn money and prizes, 446 00:25:13,140 --> 00:25:17,690 earn kind of like go and explore and find the fighter jet and 447 00:25:17,700 --> 00:25:19,470 then sell the fighter jet to somebody. 448 00:25:19,530 --> 00:25:22,750 The scope for economic transactions in a game where you 449 00:25:22,760 --> 00:25:24,470 can do whatever you want is obviously bigger. 450 00:25:24,480 --> 00:25:28,430 So and and it's probably the game and everybody loves it for 451 00:25:28,440 --> 00:25:30,040 that reason. So it feels like. 452 00:25:30,720 --> 00:25:33,290 If they have a token, it would be super interesting. 453 00:25:33,300 --> 00:25:36,560 I don't know how that and I guess maybe that this couples 454 00:25:36,570 --> 00:25:39,710 with the Xbox news, because if you know it's pretty hard for 455 00:25:39,720 --> 00:25:45,150 GTA, have a game. That runs on other kind of 456 00:25:45,840 --> 00:25:49,030 hardware and or software and then plug their crypto well into 457 00:25:49,040 --> 00:25:50,310 it. So maybe that's where the Xbox 458 00:25:50,320 --> 00:25:52,690 wallet kind of story is also coming from. 459 00:25:53,900 --> 00:25:59,070 Yeah, look, I think we had, we spoke about gaming a lot 460 00:25:59,080 --> 00:26:03,720 yesterday on Rec Radio and I just feel as though increasing 461 00:26:03,730 --> 00:26:05,930 them just like we should just build the infrastructure for 462 00:26:05,940 --> 00:26:08,120 existing games rather than having to build our own games. 463 00:26:08,170 --> 00:26:11,180 Like we don't need to bet on some web three-game being 464 00:26:11,190 --> 00:26:15,490 popular, we can just integrate with crypto rails onto something 465 00:26:15,500 --> 00:26:20,670 like GTA or CS GO or any Xbox game. 466 00:26:20,720 --> 00:26:24,850 So if they just these sort of integrations I think are the 467 00:26:24,860 --> 00:26:28,210 ones where gamers might not hate it. 468 00:26:28,280 --> 00:26:30,230 What they hate is that you try and force this. 469 00:26:30,240 --> 00:26:34,270 Like we've got a blockchain game with NFTS and a coin like you've 470 00:26:34,280 --> 00:26:37,850 gotta get involved because you can get earned $10 a day if you 471 00:26:37,860 --> 00:26:40,270 say you just play the games that you play right now. 472 00:26:40,310 --> 00:26:43,330 But we're just gonna make it slightly easier for you to on 473 00:26:43,380 --> 00:26:46,830 board and off ramp cache and trade stuff slightly easier. 474 00:26:47,140 --> 00:26:50,180 I think that's how they start to accept it rather than having to 475 00:26:50,190 --> 00:26:53,280 force them to be like oh, you're going to like this game because 476 00:26:53,290 --> 00:26:55,280 it's a three-game where you want $10 a day. 477 00:26:55,600 --> 00:26:57,870 So I think this is super bullish. 478 00:26:57,970 --> 00:27:00,500 This is how you get hundreds of millions of users coming into 479 00:27:00,550 --> 00:27:05,520 into the space. I would say the GTA rumours have 480 00:27:05,530 --> 00:27:08,510 been around for a long time. They were very, very prevalent 481 00:27:08,520 --> 00:27:13,050 when NFTS were going massive about 18 months ago. 482 00:27:13,320 --> 00:27:18,910 I would still put less than 50% probability that Rockstar takes 483 00:27:18,920 --> 00:27:23,190 this risk on the game because I think it's still like it's still 484 00:27:23,200 --> 00:27:26,660 be a big risk for a game which is just like a surefire bet like 485 00:27:26,700 --> 00:27:28,690 this is like 10 years in development. 486 00:27:28,700 --> 00:27:31,290 They really want to fuck it up. But I could very much see 487 00:27:32,100 --> 00:27:35,150 potentially with time they bring out token or they see how it 488 00:27:35,160 --> 00:27:38,960 goes and then look to do it as the game develops. 489 00:27:39,000 --> 00:27:44,000 So I think it would still be a risk to do it at launch, but 490 00:27:44,010 --> 00:27:48,860 that would be when I start to get really bullish on adoption. 491 00:27:49,240 --> 00:27:51,950 If you can get integrated like we've already seen, Telegram now 492 00:27:51,960 --> 00:27:53,310 start to try and integrate crypto. 493 00:27:53,320 --> 00:27:55,390 This is a huge app, 800 billion users. 494 00:27:56,120 --> 00:27:58,770 If Xbox does it. Sony's been a bit more vocal 495 00:27:58,780 --> 00:28:02,290 about it, doing it like Microsoft have been, if you've 496 00:28:02,300 --> 00:28:05,320 been hearing the comments, the Xbox team, the Microsoft team, 497 00:28:05,330 --> 00:28:07,740 they've been, they've been kind of pouring cold water on NFTS 498 00:28:07,750 --> 00:28:11,340 and crypto, but it's only been a bit more positive if Microsoft 499 00:28:11,350 --> 00:28:12,850 do it as well, like it would be very big. 500 00:28:13,870 --> 00:28:18,400 I think Microsoft has been sailing closer, other playing it 501 00:28:18,410 --> 00:28:20,320 safer, shall we say, because they were trying to get the 502 00:28:20,330 --> 00:28:23,760 activation thing through various government entities, right? 503 00:28:23,770 --> 00:28:26,920 So it feels like, you know, they've got other things cooking 504 00:28:26,930 --> 00:28:29,890 and then so they can't maybe speak their mind or? 505 00:28:31,080 --> 00:28:33,170 Push the boundaries as much as maybe they want to. 506 00:28:33,180 --> 00:28:35,110 I think one thing I would add just on top of that, I agree 507 00:28:35,120 --> 00:28:39,110 with everything you said. Rocks that I've got like this. 508 00:28:40,810 --> 00:28:45,640 Kind of brand image slash reputation for like doing quite 509 00:28:45,650 --> 00:28:48,960 controversial things and I think this could be one of the. 510 00:28:49,880 --> 00:28:52,140 By coming crypto and like everyone hates it and they're 511 00:28:52,150 --> 00:28:54,100 like, yeah, we're gonna do it and you're gonna love it and 512 00:28:54,110 --> 00:29:02,700 then that's how it works. You're muted. 513 00:29:05,720 --> 00:29:12,120 And me weird. Speaking of gaming, the other 514 00:29:12,130 --> 00:29:15,020 side, Legend of the Mara was released yesterday. 515 00:29:15,090 --> 00:29:18,460 I don't know if you saw this. I actually kind of, like replied 516 00:29:18,470 --> 00:29:20,460 back to a tweet. I don't know if you saw from UK 517 00:29:20,470 --> 00:29:23,700 Labs, but I'm not really following what's going on and 518 00:29:23,710 --> 00:29:26,980 when I read some of the tweets I'm just like I realise how far 519 00:29:26,990 --> 00:29:34,880 behind I am in what's going on. In Legend of Tamara it's It said 520 00:29:34,950 --> 00:29:37,760 we encountered an unexpected response from the volume of 521 00:29:37,770 --> 00:29:41,820 folks playing Shattered Defence. We have stabilised the camp game 522 00:29:41,870 --> 00:29:43,440 but needs some time to investigate. 523 00:29:43,450 --> 00:29:46,270 Shattered Mode Hunters will still make progress against 524 00:29:46,280 --> 00:29:50,040 their foes during this outage. Hatching cannot be done via 525 00:29:50,050 --> 00:29:52,620 delegated wallet and must be prompted from a wallet holding 526 00:29:52,630 --> 00:29:55,460 the vessel. And I was like, what? 527 00:29:55,610 --> 00:29:59,920 I don't understand any of this stuff, not even one term that I 528 00:29:59,930 --> 00:30:01,220 understand from what we said there. 529 00:30:01,230 --> 00:30:05,070 But I'm behind clearly. I think that's that's partly 530 00:30:05,080 --> 00:30:07,270 just like me not paying attention to the Mara game, but 531 00:30:07,280 --> 00:30:08,810 it seems to have been well received. 532 00:30:08,880 --> 00:30:13,030 But it's clearly this whole new thing like Legend of the Mara is 533 00:30:13,040 --> 00:30:15,650 going to essentially be like a staking mechanism it looks like 534 00:30:15,660 --> 00:30:20,770 for the for the land until obviously the whole thing is 535 00:30:20,780 --> 00:30:23,840 built and a gamified version of that. 536 00:30:24,120 --> 00:30:28,820 But that was released yesterday. Go play it, go check it out. 537 00:30:29,020 --> 00:30:30,950 I think there was. Obviously there were some 538 00:30:30,960 --> 00:30:34,630 difficulties in the initial launch, but of what I've seen, 539 00:30:34,810 --> 00:30:37,320 people seem to like it, but there's not that many people 540 00:30:37,330 --> 00:30:40,560 playing it, it seems. But that can always change. 541 00:30:41,490 --> 00:30:46,250 Many people playing many web three games, but the the other 542 00:30:46,260 --> 00:30:51,630 thing is that they move to block OpenCV and Blur and this is the 543 00:30:51,640 --> 00:30:54,990 first time there's been a new Uglass collection and it blocked 544 00:30:55,000 --> 00:30:59,210 open C as well as Blur. They said remember a couple of 545 00:30:59,220 --> 00:31:01,860 months ago they were disappointed with what? 546 00:31:01,870 --> 00:31:06,430 Open C Dublin trading fees, new collabs I think accounts for 547 00:31:06,440 --> 00:31:11,500 something like 8070 to 80% of all the trading fees over the 548 00:31:11,510 --> 00:31:13,930 last 24 months for for these guys. 549 00:31:15,310 --> 00:31:18,140 So it's very high, maybe don't send me 80 but it's like it's 550 00:31:18,150 --> 00:31:22,540 above 50%. What do you think? 551 00:31:22,580 --> 00:31:31,380 Like if you are running Blur or for Open C and you're already 552 00:31:31,390 --> 00:31:36,600 seeing NFT volumes dip a lot and I think that's very, very, very 553 00:31:36,660 --> 00:31:39,540 highly correlated to trading fees and greater royalties. 554 00:31:39,630 --> 00:31:44,800 And now you see one of the top or the top creator of NFTS 555 00:31:44,950 --> 00:31:47,710 coming in and basically blocking your platform for that, for that 556 00:31:47,720 --> 00:31:50,320 strategy. Do you think that if I'm sitting 557 00:31:50,330 --> 00:31:54,160 there opening blur I might decide to change change tactic 558 00:31:54,170 --> 00:31:57,550 or are they just going to put a big FU to them? 559 00:31:59,130 --> 00:32:02,540 Thank you if they. Do similar volumes again. 560 00:32:03,420 --> 00:32:08,610 Then perhaps yes, the problem is now because the volumes across 561 00:32:08,940 --> 00:32:12,970 the IT market is so low. Overall, it probably doesn't 562 00:32:12,980 --> 00:32:17,030 have much of an impact, but you know before you go do your turn 563 00:32:17,040 --> 00:32:19,060 volumes when you have the new releases, it'd be super active 564 00:32:19,070 --> 00:32:22,230 and stuff and it was generally profitable for marketplaces that 565 00:32:22,240 --> 00:32:27,680 charge marketplace fee, so. For now, I don't think it makes 566 00:32:27,690 --> 00:32:30,220 the move, but you know, let's say there's a brand new 567 00:32:30,230 --> 00:32:32,620 collection that someone is doing and it's going to be trading a 568 00:32:32,630 --> 00:32:34,920 lot. You would think it would make 569 00:32:34,930 --> 00:32:37,280 sense for one of the marketplaces to actually honour 570 00:32:37,290 --> 00:32:39,560 royalties to use them. And it's funny because like, 571 00:32:39,770 --> 00:32:41,550 remember the first two platforms that. 572 00:32:42,150 --> 00:32:46,080 Didn't honour royalties were like pseudo swap and then X2Y2 573 00:32:46,650 --> 00:32:49,940 and now pseudo swap version 2 on his royalties next to what? 574 00:32:49,950 --> 00:32:53,440 He does also honour royalties and it's almost like there's 575 00:32:53,450 --> 00:32:55,790 like not having royalties gained you more market share, but now 576 00:32:55,800 --> 00:32:58,460 everything's no royalties. Does having royalties getting 577 00:32:58,470 --> 00:33:02,890 you back market share? And I think if you had Someone 578 00:33:02,900 --> 00:33:05,080 Like You go, if you had a big collection that you knew would 579 00:33:05,090 --> 00:33:08,680 do a lot of volume on the break, you could sign exclusivity with 580 00:33:08,690 --> 00:33:10,160 them. But we will unlock royalties for 581 00:33:10,170 --> 00:33:13,010 your projects for this whatever you come do it with us and no 582 00:33:13,020 --> 00:33:14,780 one else. And maybe that's what's. 583 00:33:15,890 --> 00:33:17,720 Maybe that's a potential outcome here. 584 00:33:19,600 --> 00:33:21,300 I think that's I think that's a highlight. 585 00:33:21,310 --> 00:33:24,430 Yeah. I think now as some of the older 586 00:33:24,440 --> 00:33:27,810 projects become less, less in trading fees that they they 587 00:33:27,820 --> 00:33:31,390 start to slow down but the production houses start to put 588 00:33:31,400 --> 00:33:33,570 out new entities. I think that it will start to 589 00:33:33,580 --> 00:33:37,820 swing back to these production houses and it's going to be a 590 00:33:37,830 --> 00:33:40,230 competitive advantage for people to align themselves with trading 591 00:33:40,240 --> 00:33:42,530 fees again. So I think we'll probably we'll 592 00:33:42,540 --> 00:33:47,890 probably get closer to some form of an equilibrium where where 593 00:33:47,960 --> 00:33:51,510 trading fees start to return to the market and I'm really 594 00:33:51,520 --> 00:33:53,800 bullish about that. I think this whole space is 595 00:33:53,810 --> 00:33:56,770 driven by incentives and I think you'll see more innovation, 596 00:33:56,840 --> 00:33:58,270 you'll see more people come back. 597 00:33:58,320 --> 00:34:01,600 Obviously you'll see some of the hyper narratives that you saw 598 00:34:01,610 --> 00:34:04,660 during the bull market, but I think you need that also to have 599 00:34:04,670 --> 00:34:05,950 the good stuff that's come from it. 600 00:34:06,510 --> 00:34:09,690 So yeah, I think, I think we will, I think that's really 601 00:34:09,699 --> 00:34:13,639 positive for the market. Anyway we will end it there. 602 00:34:13,690 --> 00:34:18,780 It's been 40 minutes look like cryptos have kept going higher 603 00:34:18,790 --> 00:34:22,480 during the chat, looks like bitcoin's about to hit 27 KE for 604 00:34:22,489 --> 00:34:25,580 might be hitting 1650. So good day. 605 00:34:26,030 --> 00:34:30,030 One of the better days we think we've seen recently and yeah, we 606 00:34:30,040 --> 00:34:33,770 will see you again tomorrow. We have been sponsored again by 607 00:34:33,780 --> 00:34:37,260 cracking. Go check them out Rug Radio, 608 00:34:37,270 --> 00:34:41,790 sorry cracking.com/radio and we will see you tomorrow.