Good morning, good morning GMGM. Welcome to another episode of
FOMO Hour. This is episode 191 nine O Can
you believe it closing in on 200 shows today.
Today is Thursday, August 29th, 244444.
It is cloudy overcast morning here in Chicago today folks.
Feels fairly similar to the the NFT market which feels a little
cloudy and overcast here after this latest SEC wells notice.
Broader markets feel a little overcast today as well after
NVIDIA earnings day did not go off and live up to the high, but
not an overcast day for those in the bet prediction market as
they flip polymarket. We're going to break it all down
on today's show, folks. No Faroque, he is still off in
Asia. No Mando today either.
But we are holding down the house with Logan Hitchcock and
he was on with us yesterday. If you don't know Logan, he is
the editor in chief over at Lucky Trader.
He has been covering the NFT in Web 3 space in depth for years.
Logie, Jim, how you doing? Good morning, Tyler.
Doing well, Hopefully audio better than yesterday.
Maybe it's been off to a better start.
OK, awesome. Yeah, doing well.
Excited to chat, break things down, feel you know, cautiously
optimistic about everything happening right now.
All right, Logie's feeling good. I'm feeling good too, folks.
No hat today. I actually showered.
I don't shower that often before the show.
I have an event at my son's school later this morning.
So we'll probably keep the show a little tighter today.
Probably a 4045 minute episode. Get you in and out of here.
What are we going to talk about? So on today's show, we're going
to start with the quick market report.
I'll do my best to fill in for Mando.
We're going to talk what's happening with this bet
prediction market and some prediction market bets that we
like. We're going to go deeper into
the open sea wells notice story. We're going to talk punks versus
autoglyphs. And then is Logan buying AD
gots. We we got some breaking news
before the show. Logie is bull posting.
So we're going to dive into that a bit.
We've got telegrams ton ton goes down again, the market doesn't
care at all. Abstracts, new wallet soniums,
L2 launch is out plus a lot more.
So we've got a lot to get into on today's show with that with
that, why don't we just dive right into this here.
Let me get my screen share up and going and we will dive into
the the market report here. But for for starters here,
crypto majors up. Let's see one to 2% on the day.
We've got Bitcoin 60,350 E up 2% at 2560.
Solana actually in red on the day.
Somewhat interestingly, if you take a look at the ETFs, so the
Bitcoin ETFs saw another day of outflows, another 105 million
out the door, but ETH Ethereum 6,000,000 in inflows, first
inflow, first Green Day for Ethereum in a couple weeks.
So you certainly love to see that likely driving some of that
positive price action that we saw on the board.
I think that the big story in macro and markets here in the
last day was NVIDIA. People were having the NVIDIA
earnings watch parties apparently across the United
States, across the globe, not not normal market here, but we
got the details. I thought it was a a hit.
I thought it was a win. So what we've got some of the
Walter Bloomberg tweets here. So they let, let's see, second
quarter adjusted earnings per share at $0.68, revenue at 30.
That was a beat over the estimated 28.9 billion.
Their data center revenue was a beat as well.
They saw their they put third quarter revised revenue at 32
1/2 billion. I don't know, I thought overall
it was a pretty good report. I guess they had some cautious
guidance for the near future that their shares did fall about
7 1/2% after those earnings came out.
But then interestingly enough here this morning we saw the
other financial, several financial institutions actually
raised their their price targets.
So Morgan Stanley up at 150, Wells Fargo at 165, Goldman and
1:35. In general, most institutions
still have bullish price targets for Nvidius.
This might just be a blip on the on the radar.
We got a few other data points out.
So jobless, the jobless numbers came in slightly under.
We saw Q2 GDP come in at 3 percent, 2.8% estimate.
In a in some other news, we did see Pavel.
We talked about this. This was breaking news on
yesterday's show. Pavel did get released.
So that polymarket bet resolved to 100%.
Yes, ton did go down again yesterday for the second time in
two days. Ton was down, market didn't
care. Ton coin up 4% on the day,
briefly spiking over over 580 there it seems in the meme
streets. Just more chop.
I think when the majors chop like this, you can pretty much
expect the same from the mean leaders.
We're up a couple points, up two to 3% for the majors.
Most mid tiers kind of the same boat.
Some green on the board, no red, at least that I saw, but also no
huge runners. Runner this fill token
apparently tied to some E balls, but I'm not really sure if
that's true or not. So haven't had a chance to
really dig in to that one, but that's a quick roundup of the
markets low. Just kind of curious here for
your thoughts. We've heard Mando's thoughts we
talked about like Kaleo and other traders thoughts.
What is your market outlook here like kind of macro Bitcoin
crypto majors? Are you aligned to the thesis
that we chopped till the election chopped through the
summer? Kind of what's your, what's your
base case here? Yeah, I mean, it feels like a a
silly default answer, Tyler, but I think just that level of
uncertainty regarding Kamala Trump, you know, and what could
happen in either direction with a win for either party there
just leads us to a more chop. So, you know, I'm, I'm kind of
hunkered down in the Chop St. Like recessed background.
Sorry, am I still here? Yeah, I got you.
I'm not sure where that came from.
OK, Anyway, yeah, I, I, I feel like chop, I think it's a little
silly that, you know, something like NVIDIA, you have the, the
one stock, you know, that might trigger the entire market up or
down. That that stuff's all silly to
me. You know, all the numbers that
come in, you know, from time to time that can send us up or down
for a particular day or two. But until that time of the
election, that is, I'm feeling like we're probably just going
to be having this conversation about up a couple percent, down
a couple percent. Yeah, I mean, that's, that's
probably in line with my base case.
I mean NVIDIA, I mean it it, it's understandable why it's
such a big deal, right. If folks haven't been following
it's market cap is 3 trillion. So it's, it's larger than the
entire crypto industry, it's market cap.
So as a single stock when it moves, it does shake the the
rest of markets. But, you know, I feel like it
was a situation where it had just been sun running and
everything had to be perfect for it to to pop green after
earnings at a $3 trillion market cap.
And it wasn't perfect, but it's still, you know, doing just
fine. It's up 9% on the month.
Wouldn't be too concerned about NVIDIA.
I think a big macro headline that jumped out to me on the day
it was in the prediction market streets.
So folks, we talked about Polymarket quite a bit on this
show, but one of their shiny new competitors bet tied to the
drift protocol over on Solana, a smashing day yesterday, $20
million in daily volume. That's nearly 10X their their
prior all time high of 1.2 million on the day.
It seems like that the money was mostly spent in their primary
election markets. But Logan, curious for your
thoughts. Have you been following that at
all? Any reactions to them flipping
Poly on the day? Yeah.
So I was excited for the launch. Of course, everybody looking
for, you know, another option in terms of prediction markets
given the heat surrounding them, not many markets open, right?
Only four I'm seeing total yesterday's outburst.
Nothing to explain that from my perspective.
I haven't been able to dig too deep into the wallets or
anything like that at this point in time.
But I'm seeing like almost 21 million bet on the popular vote.
I think you know the experience on Solana.
Of course, when you're comparing Solana to Polygon, Solana to
most other block chains, right, Superior, we found that out with
Memecoin. So I think that has a real
opportunity. Of course it's going to have to
open up more markets, going to have to probably go through some
trial and error with like resolutions and things like
that, that Polymarket's already done and kind of gotten out of
the way. But you know, why not have a a
strong competitor alongside with a, a different experience?
I think it makes a lot of sense. I've not participated as I, as I
mentioned, but I'm keeping an eye on it and open to
participating, like I said, just because of the just the ease of
using Solana. Yeah, I did make a Polymarket
bet this morning. Maybe we'll talk about that.
But you know, again, I had to send USDC via Polygon.
It's not that big of a deal. You know it takes a couple
seconds. Longer or whatever.
It's an annoying onboarding process.
Let's let's just be honest about it, like kept a lot of out of
Poly market. It's like it's the five steps to
to get your money over there because once your money's there,
like you're, you're locked in, I feel like.
I mean, it took me, it took me 30 seconds.
I bridged. No, it did not.
You did not set up a polymarket account.
Start to? Well, no.
Sorry, I already I had an outstanding account.
I funded the account in, I don't know, 30 seconds to a minute, 2
minutes. I bridged USDC from base to
Polygon and then sent it in and activated it and then made the
bad. I mean, two minutes, it's not
that bad, especially if you're crypto native.
If you're not, it's not good. Yeah, that's too many steps and
that's where you know, in terms of getting somebody from zero to
100 off the ground. Polymarket of course, huge
advantage in terms of name brand.
The collaborations, it's done with Sub Stack and Perplexity.
Those are great, fantastic in terms of top of funnel brand
awareness. Drift has a huge hill to climb.
Drift has far less to climb in terms of getting funds on site
in my opinion. Interesting.
Yeah, that's a good point. What stands out to me is
Polymarket has brought so much attention to prediction markets
that it does make sense for big players to be monitoring the
competitors because of things like Arps.
Like if there's an interesting arm spot or a middle on some
bets across these different marketplaces, that's going to be
a juicy opportunity, which I think is an advantage to the the
next round of players who come in notably not predict that
Funk, who got 900 thousand blast gold to launch on blast this
month and has not. So that gold is going to be
rolling over to. Next month, I think Pac-Man
Pac-Man just tweeted that he's excited for it, so it must must
be coming. I mean he must be connected.
He is. I would be excited for it too,
in an ecosystem that that is in desperate need of more apps
right now to bring in users. So let's take a look at the Poly
Market board, a few that jumped out to me just quickly as a, you
know, debrief on the news. So there's been the headlines of
a large attack coming from Iran that's imminent polling market
has that at 5% shot. So I feel like we keep seeing
these headlines on Twitter and they just never come to
fruition. I think that's why the market
isn't really reacting to those headlines anymore.
We've got Trump still ahead in the in the election.
That why I think that's interesting folks.
We called this bet out on the show it just a few days ago.
If RFK drops out, who will gain more in the polls?
That was at 66% comma shoes for us here this morning.
Looks like we are back. Logie, just just recapping here
the the RFK bet for our our listeners.
It looks like this one is going to resolve.
Yes. So fun call earlier this week on
the show. But yeah, you mentioned that you
may have bet. So I'm curious what what jumped
out to you? Yeah, you shared the Trump town
hall market. What words will be said Just a
just a quick scroll through and I'm not paying attention nearly
as closely as you are as to what Trump's saying, what the agenda
is for some of these items. But just a quick scroll through
down near the bottom you'll see the Durav, Pavel, Durav.
He can say either Pavel or Durav.
This just scream no to me. Like I'm skeptical that it's
going to sound hyperbolic. Oh, it is hyperbolic.
I'm skeptical that Trump really knows, you know who this
gentleman is. Too much, of course, huge
ramifications around privacy, freedoms, all that type of
stuff. So it, it's a big deal, but it's
Trump going to say Pavel Durov. Why?
I, I, I bet, I bet no. I bet no low liquidity, but I
bet no. I'll take $13 on like a $80.00
bet or whatever. You can throw 1000 bucks into
this and make 100 bucks. It's probably a pretty safe
$100. I would be pretty shocked if he
says Pavel Durrell. So the bet today folks, what
will Trump mention say during the Wisconsin town hall?
I don't know if this town hall is a different set up from his
prior rallies because these odds are are strikingly different
from where they have been. Tampon down at 62% jumps out
Comrade Kamala at 3 plus times that.
That's a very interesting one. You get paid 150% and will he
say that? That's a pretty frequent
tagline. Or Trump World War three I'd
probably pick the no side on if I had to bet that alien five
times at $0.30 is very juicy. The last Trump speech that I
listened to, he said illegal alien at least a dozen times.
So that would be the context of that word comes up.
I like that quite a bit as an underdog drill, baby drill.
I don't know that I've ever heard him get a speech and not
say that. So at at a coin flip, 100%
return on drill, baby drill. I kind of like that you
mentioned the no on Dirof. I don't usually bet a whole lot
of the big favorites. I think that one is a lock
border 10 plus times at 60-7 cents and then border 25 times
at 18 cents is interesting. Will he say border 25 times?
It likely depends on how long this town hall is.
So I would need to take a look at that.
But honestly, I I'm tempted to to take a flyer on border at 25
times. But this is this is an
interesting one. The other one that's
interesting. The right guy.
We talked about this on yesterday's show.
Let's see. Oh, it looks like not a whole
lot of action has come in. Will thread guy interviewed
Trump before October. The odds briefly spiked to $0.50
yesterday, but I think likely tied to low liquidity in the
market. It's back eighteen cents here.
I, I threw a little bit on my old, my old friend thread guy.
I think he's going to land this one.
I like the I like the terms of the bet, but that's a good, good
roundup of prediction markets. I want to get into the the lead
story from the day we broke the news on yesterday's show, but we
didn't really have a chance to to dive into it.
Folks, Open C is under attack. It seems like Gary's Gary
Ginsler's days at the SEC might be numbered, but he is not going
down without a fight. And now he's going after NFTS.
So what happened yesterday? Open C announced it has received
a Wells Notice from the SEC and is expecting a lawsuit over
their belief that NFTS are securities and that Open C
enabled the selling of said securities on their platform.
This is not the first time we have seen NFTS come under fire,
with the SEC seeing prior success coming after individual
founders like Tom Billiu and his Impact Theory collection along
with Mila Kunis's Stoner Cats. But this is the first time the
SEC has come after an NFT marketplace like Open C with
more broad sweeping charges. They have not provided any
additional detail on which specific NFT products or types
of NFTS might fall under scrutiny.
Open C is pledging $5,000,000 to cover legal fees for any artists
and or developers which may also receive Wells notices too.
And I'm quoting here. Ensure creators can continue
innovating without fear. I think that that was a very
nice step from Open C, but I think that also might have
spread some fear in the markets. What?
We'll come back to that here in a second.
So what are folks saying about this?
Devin Finzer, CEO of Open Sea, He commented in his long
announcement post. Cryptocurrencies have long been
in the crosshairs of the SEC, but this is a move into
uncharted territory. By targeting NFTS, the SEC would
stifle innovation on even broader scale.
Hundreds of thousands of online artists and Koreans are at risk,
and many do not have the resources to defend themselves.
Then congressmen are weighing in on this as well.
So pro crypto Democrat. Wiley, Nick.
He called the SEC's approach regulation by enforcement and a
blatant abuse of power that erodes trust and transparency in
our regulatory system. He went on further to say that
actions like this could derail the progress driving digital
innovation in the United States. So some strong words there from
Wiley Nickel and I think some interesting comments also from
Jake Tervinsky. He said the idea that a
financial markets regulator established in the 1930s would
have jurisdiction over digital art in the twenty 20s defies not
only common sense, but also the SEC statutory authority.
I do think it's hard to argue with a lot of those statements
here. But Logie, you know, curious for
your thoughts. We didn't have a chance to dive
into this yesterday. What What are some of your
reactions now that we've had a data to digest this?
Yeah, I mean disappointing, of course.
It's tough to, as you mentioned, disagree with a lot of what's
shared there. We know whether it be from the
Congressman or or Jake Javinsky kind of takes the words out of
my mouth, at least from someone who's actively participating in
this market. I definitely see a little bit of
the both sides of the positivity surrounding Open C here and
taking A, he felt sort of like a community rallying yesterday
around open sea in a positive way, which hasn't happened in a
really long time. But then as you mentioned, a
little bit of the fear and doubt creeping in when they're
pledging $5,000,000. That feels like a lot to pledge
almost with expectation that more and more creators are going
to, you know, fall on the sword here.
So I, I see both sides. It is a little scary at the same
time. I mean, why pick this fight?
You know, if you're the SEC, it just seems like I don't know
like I've seen all the clips about the Pokémon cards back and
forth right that there's that testimony.
It was Gensler and I can't remember the representatives
name right the back and forth about the tokenization of the
Pokémon cards that got re pushed on my timeline this morning as
well. It's just like, you know, you're
unifying and helping rally a a group of individuals and
companies that, you know, I don't know at this point in
time, it's not like we've had, we've been, you know,
solidified, unified in, in certain ways, but there's still
plenty of infighting between block chains and things like
that. And now you're asking for
everybody to sort of get along, join the fight alongside Open C
and just I don't know why. I don't know why.
I mean, I, I think it that's a, that's a positive for our
ecosystem to be able to hopefully fight together on
this, gain the clarity that's necessary from a regulation
perspective and move forward. It's a negative unfortunately
for any of those impacted at an individual level, whether it be
a creator, developer, none the less so.
So so rate your concern levels for creators and developers?
Or do you think digital artists should be concerned?
I don't think so. Like, you know, small digital
artists, even notable digital art people, right?
Like, I don't think people should be worried about stuff
like that. If you are an NFT project like
Tom Bill You's impact theory like Stoner Katz, Yeah, if you
made a big splashy wave in 2021, if you raised a ton of money via
a mint, you know, maybe maybe if you haven't already received it,
right. You heard Mando on the show
yesterday say that you know, the kind of the the rumors about
many more being sent out and we would eventually find out about
them. If you haven't already received
it, you know, maybe you are a little worried four or five
otherwise, you know, I don't think you need to be overly
concerned here. Let the big dogs fight this out
and you know, hopefully open C and and the powers that be from
the web three community find a a peaceful and positive resolution
for all US participants. Yeah, I think there's just
clearly so much nuance to this. I think digital art is totally
safe. But like, if you remember, like
Stoner Katz did an NFT sale to raise money to fund a movie that
the holders would have the chance to to benefit from.
So that was a little bit more of a clear cut case.
And then I forget some of the details for Tom Billy's impact
theory. But it was also a huge raise,
$30 million raise from a pretty big name, you know, similar
conditions. We've seen other NMT collections
go as far as, you know, promising dividends.
So there are are more blatant abuses than pure.
OK, I'm an artist dropping digital art as NFTS, so I don't
think that bucket should be too concerned here.
I think the question from a market standpoint, could NFTS
rally off of this? And I think punks, punks have
been leading the way for NFTS. It seems like this last month,
yesterday was quietly a big day. I didn't really see a whole lot
of folks talking about this. But if you go through the last
couple days of punk sales, they're almost all above floor,
like 30 to 50% above floor. So it's folks shopping for
actual nice aesthetic punks with multiple 3938 each sales across
the board. So I'm curious for your
thoughts, Hyla, I want to get into this a little bit more in
depth, but do you think we might see an NFT rally off?
The bat, I do think that, you know, again, pulling together
these communities in this big fight, I do think you could find
a rally on the back of this. Interestingly, the rally I think
could, you know, kind of diverge in in two ways.
One being, you know, everything sort of rallies as the broader
sentiment is positive. The other being assets like
punks that don't have nearly as much concern, right?
They kind of fall into that bucket.
Literally. Yeah, flight to safety, that
that's the other thing here. Like, you know, Yuga of course
would be one of the first, if they haven't already, right?
There's receive something. We'd be one of the first
communities that you would be like, OK, like there's a lot
here. There's a lot happening.
There's a lot of the word utility, those types of things.
If I was somebody that's concerned based on yesterday's
announcement, I would be probably moving away from those
assets into something like punks or art.
So I could see both ways, Tyler. But you know, in both those
scenarios though, there's a positive for NF TS.
I, I definitely see, you know, rally as a, as an option,
especially because I feel like we are building momentum anyway.
Maybe that's foolish. Sounds.
But you know, cuz volumes are still like not very great, those
types of things. But I feel like we are building
momentum. And this is just another one of
those things where it's kind of like, you know, not to liken it
to anything too graphic, but it's like, you know, you, you
beat up the little guy a little bit and now the little guy and
all his friends want to kind of fight, you know, fight back.
Viva la revolution so now NFTS are are are counter their their
cyber cyberpunk. Here I thought what was an
interesting coincidence. Not sure the right term here,
but Rudia sold an Autoglyph 3 hours ago for 99.95 ETH.
That's a notable sale because it is the lowest Autoglyph sale in
E terms since July 2021. So he just marked a three-year
low. And here an easy narrative to
craft would be flight to safety like assets like Autoglyphs
right? Which are like the the most the
the furthest on the spectrum from a security.
And here we had the lowest sale in in three years.
This actually sparked an interesting question for me
here. Logan.
I'm curious for your thoughts. So Autoglyphs, let's say the
floor is, let's say you can get one for 90 ETH.
The punk floor is 30 ETH. Which do you take?
3 punks or one Autoglyph? Yeah, give me 3 punks To me.
To me, it's not much debate. There's a lot of probably
personal nuance in there. I like the the punk's narrative
better. I like the punk's ability to
create and curate community better.
I like the punk's ability to flex status better than
Autoglyphs. And so that that's why for me,
it's it's pretty easy. You know, if you're a pure art
guy and you can't connect to any punks.
Yeah, I could. I could see auto.
I mean, owning an Autoglyph is not not a bad idea.
The flight to safety though that you know, ultimate safety cold
our cash, right. So that's always in play as
well. But I think.
Yeah, interesting. It's not much below floor.
It's not like he like took a like a low weed bid.
The weed bid is standing at 75, so the floor is at one O 7.
I like the punk pitch is an easier pitch, I think for a
broader crowd to understand than the Autoglyph pitch.
I think that that's a longer debate that's I don't really
necessarily want to get into it. But we also saw some big news
out Sam's Pratt on the on the NFT digital art front yesterday.
So yesterday was the one year anniversary of the monument
game. Happy end of those who played
and or still holding those NFTS. And then he did tease
effectively the next chapter. He's saying the next chapter of
Lucy is insight started to share a little bit of details, but he
also closed this out with, I look forward to sharing it with
you soon as it's ready for you to enter.
So it feels like it's coming, but probably not next week.
That's how I I'm interpreting this.
So I probably put it as AQ4 launch as I'm reading the tea
leaves here, maybe early to mid Q4.
OK. Curious for your thoughts on
this. And maybe like when's the last
time you've been excited for an NFT mint?
And then would this be like the biggest NFT mint of the year?
Oh well. Thoughts.
Congratulations to Sam and the community that he's curated over
the last year. This was a huge spectacle.
One of, if not the top events from from last year that I can
recall, so that's awesome. Last time I was excited for an
NFT mint. I don't even know.
I'm not sure I can come up with a concrete answer in the time
that we have left in the show. Tyler, it's it's it's been a
really long time, but you know, if you were to be excited about
something, I think the next chapter of Skulls of Lucy and
and the monument game would be something to be excited about.
I think the fantastic part here was, you know, the council
itself is very at this point, like 78, maybe more to get in
right to, to claim a skull. Is that right?
I might be, yeah. Let me check that.
So I mean like that that's out of reach for most all people.
But the great thing about the last round was Sam brought in a
lot of people with the lottery tickets and the ability to
participate in the game itself with the observations.
And I would anticipate, although I don't know, of course, that,
you know, this just continues to sort of the the outer rings
start to broaden every single time to potentially allow more
people in. And I did not participate last
time. But as you see that unfold and
the success of it, maybe you want to get in this next time on
something that I think is universally loved, right?
Like this, this whole unfolding. I haven't seen anybody say
anything bad about Skulls of Lucy or the Monument game.
So my expectation is the next one would would allow people to
participate, other people to participate, lower bankrolls to
participate just like last time. And yeah, I do.
I do think that's one to be excited about.
Nothing. It's a longer term hold.
You have to have a, you know, 5 to 10 year time horizon.
It's an elite group. I think the skulls holders
probably, you know, one of the more notable groups of art
collectors in the digital art space.
I will say it does feel like they've lost a little bit of
momentum from where they were a year ago, but I think that's
just kind of natural with ebbs and flows.
A group that has not lost momentum, and that's quite the
opposite is rapidly building momentum.
That's D gods enough. So that threat guy commented
this morning and ironically I think D Gods is the only FTI
could explain to my college homies in less than 30 seconds
and they fully understand Bros being Bros type shit.
Then Logan Logan Hitchcock on the show said retweeted this and
said D God's best path forward was always barstool on web three
and thinks that would be a resounding success.
So Logan, are you eyeing D Gods here?
Any thoughts on their their momentum?
I I. AM and apologize for reiterating
for any lucky lead listeners, but I I've shared this sentiment
on our show before Tyler. This felt like a slam dunk
opportunity for Frank in the community.
Be barstool, be the frat guys, be, you know, like be that.
They were doing that in so many different ways, but it felt like
it wasn't necessarily being embraced, or at least there
wasn't a commitment to embracing that, right?
There was so many more bigger ambitious plans.
And you can't fault them for wanting to go bigger and, and be
more ambitious, but it just distracted from what I felt like
personally, it was a slam dunk. And Despite that not being my
audience, I'm not the frat guy, barstool guy.
It's not, it's not me. I'm very plain in my Gray
T-shirt, right, But I recognize its path for success.
And yes, I have been since the bridge back to Solana.
I know we've been talking about this, that you know, I've been
eyeballing them, got a little lucky with timing and market
forces, right, bringing price down.
I think what 28 I saw this morning.
I'm looking. I don't, I don't know, you know,
like I just do. I just buy floor because I don't
identify with any of them. Anyway, that's what I probably
should do. Do I find something that, you
know, I like a little bit more aesthetically maybe.
I don't know. I don't know.
But I'm looking. And I think in the last couple
weeks, even the last couple days, like there is clear
momentum here, even if price is not indicating it there.
There's very clear momentum here.
And I think, yeah, D Gods is is set up for success should they
continue down this path. For D gods, you need to find one
within 10% of floor 10 to 15% of floor that you like a lot.
I think this one I'm sharing on the screen for those in the
stream kind of screens. Logan to me.
Well, it's got the the appropriate color palette.
I just have to do a little bit more.
I've been, I've been probably too price conscious when looking
at these because for me it is more of like a, I don't, I don't
want to say it's like a proxy soul bed, but like in a way this
is kind of me parking some Solana and being OK with it.
It's not like a swing trade type thing for me.
I feel like the mod glasses isn't obvious, right?
It's the the the Gucci goggles. They look like mod glasses.
Come on, it's. My gosh, I'm you know, I'm fully
aware that I'm not cool enough. Should D gods land this right
like land and I think, like I said, they're they're on their
way. I am not cool enough to be in
the club, but I'm happy to join in on the financial success and
upside. You know, should it should it
come to fruition. I've always loved the D gods
since I went to NFT NYC2023 I think it was and I went to AD
gods party and met some just good old boys from Florida who
didn't really have any other NFTS just love their D gods.
They seemed like they were genuinely good guys.
We had a whole lot of fun with them and they seemed like they
were just going to hold them forever.
And this may I don't know if this is a surprise to frequent
listeners or not, but I, I am 39 years old, but back in my 20s I
was a frat guy. I wasn't a frat in college.
So this is a vibe that resounds with me and guys I I can fit in
with the D gods frat or I can do the I can still do the, the
shoeies folks. We got just a handful of minutes
show a couple other headlines. So we got Sony, the Sony L2, we
got new details on their L2 launch yesterday.
Their Minato test net has gone live and also came with their
own incubator. So Spark incubation.
They're offering $100,000 grants, I think probably be the
appropriate word to two teens that apply and and win through
that incubator. The Test Net, again, public,
it's accessible already via the the Test Net blockchain.
Logan is curious. Any high level thoughts on some
animos? We don't still have a whole lot
of information. Do you think they're going to
make it here? Yeah, it's really interesting.
I mean major brand, of course everybody gets excited about
that. I'm excited about that.
Someone looking to an organization, I should say,
looking to participate here alongside us brings validity to
what we're doing, right? When others in a real world
company want to participate, that's really awesome, but just
interesting to see what happens. You know, like they're reaching
out looking for developers to start looking at the
documentation. You know they're building with
what it's on the Super chain, right am I is that right?
Yeah, I believe so. You know, so familiar tools and
everything for developers to, you know, work with if people
want to build there. We're at a really interesting
junction, not the Segway as Tyler, but like there's just a
lot of these L twos and L3 like niche chains that are looking
for activity and looking for developers, looking for users.
And you know, as a user, it's it's fun because hopefully new
cool stuff is built on one of these chains for us to
participate with as a developer, it's probably fun because
there's lots of opportunity grants, as you mentioned,
Vsonium, whether it be abstracts, going to have an
incubator or whatever. Like lot, there's so much
opportunity for creators, builders and participants as
well that that is exciting. But it's also like there's just
so many unknowns, you know, and there's a lot of opportunity
costs, spending time and effort on one chain that may not make
it, who knows? So interesting time, but we're
building foundations, which is is kind of fun.
The L2 race is getting more competitive.
It feels more more entrance by the day here and time is an
opportunity cost as well as capital.
So you you have to to think about that big news out of
abstract. This is the seg you you kind of
started down this path already. Logan Abstract introduced their
global wall. I think this is the biggest
announcement we've seen from them since they just announced
that what their overall vision would be.
They're touting it. You can sign in with socials
from the wallet in seconds. And the idea here is to further
their vision of, you know, solving fragmentation and
creating an easier consumer crypto experience.
I don't know if we got a whole lot, we got some technical
details about how this is going to to work here.
I think it it has two components, right, that the
Privy wallet and a smart contract wallet.
And this enables things like gasless transactions as well as
easy and rapid funding. It feels like a big first step.
Lo, you're just kind of curious for, for any reactions you may
have to this. What, what do we need to see
from abstract? So I think expectations for
abstract are high. I think just because Luca Saigar
and folks are, are behind this one, I think we, we've put them
on a tier above perhaps just like your average L2 competitor.
But it has been a pretty open question mark, right?
Like what are they going to ship now?
We we have our first glimpse. I'm curious, you know, what's it
going to take from your lens to to put abstract on the same here
as like a blast or or perhaps a base even.
Yeah, this is a great first step.
Easy onboarding, small things like sponsoring gas fees.
I love that I you know, I Rabby other wallets are starting to do
that to allow people to make transactions when they might not
have too much left or have anything to get started.
Social sign on. I mean like those are slam dunk
easy. Get people in the door and
started things that I think are necessary.
Getting it up a tier to blast to base.
It's going to require something to do on chain.
We saw plushies, which I don't know too much about, but like
apparently people are excited about upcoming game announced
that it's going to launch on abstracts.
Like that's one thing. I'm sure you'll see a prediction
market on abstract. We know there are going to be
pudgy adjacent. Yeah, there's going to be pudgy
adjacent things on abstract. Like, you know, well aware of
that. What else?
And and maybe when I say what else, you know, it doesn't
necessarily mean that it needs to be a net new thing.
It doesn't need to be a net new like completely new invention of
a consumer application. But what's there and does it get
people there to participate? Blast had all those incentives
and people were there for a time and now those incentives have
been stripped back or did not meet expectations and there are
fewer people there, right abstracts going to have the same
trouble. Trouble's maybe not the right
word to use. I mean, same opportunity, I
should say, to capitalize on that momentum and then hopefully
sustain it. But it's very difficult to do,
you know, People will hop from chain to chain to chain to chain
insert. Mercenaries.
They are mercenaries. The only thing I would like
correct you or or interject here on your commentary on blast is
yes, people came for the incentives and then moved on,
except for the apps that people actually like like fancy top,
which has now proven that they have a pretty consistent user
base for several months, you know, dating back to pre token
launch. So it can work, but you have to
have good apps like that. For me that's still been the big
question for after. So what apps are they going to
have And to to get there to get the apps you do need the
infrastructure. So we're we're getting the
infrastructure built out. We will see very confident in
Luca team that they are going to have some killer daps launch on
this L2. Maybe last on the killer DAP
comment hamster. Let me try to find this hamster
combat Logie, I know you've been intrigued with hamster combat.
This is the ton telegram game. They touted some absurd number
of users like a million active. I I might even be off on that,
but some crazy number. Was it like 30 million or
something stupid? It might be 30 million and they
announced yesterday that their their token launch AirDrop date
September 26th. The question is, will the Tone
blockchain still be producing blocks by September 26th, at
least consistently? It hasn't the last two days but
perhaps with now we're at least still start working again.
Any thoughts on on the hamster tge here before we wrap things
up? You know, not not too many
thoughts. Congratulations to anybody who
may be receiving it. I'm I'm interested to see what
happens, you know, the congestion on TON in the last
few days and I'm not actually participating on TON.
By the way, Full disclosure, but this dog's token right is
keeping it from producing blocks like is a a major token
generation event token trading event like is that going to
provide the same issues? You know, it seems perhaps it it
may. So we'll see what happens.
It could be a total shit show. Hopefully not for hamster combat
token owners, but. Here's what jumps out to me.
I think this is ton going down. Is this like proving that the
the Telegram ecosystem is very different and disconnected from
the crypto Twitter ecosystem, if indeed it does exist?
And the reason I say that is there's no chatter about tongue
being down on the crypto Twitter timeline at all.
When Solano went down like it, it was the entire timeline
talking about it. Like any time that happened, it
was the main story on the timeline.
And now you'll even find out that ton went down by like
reading tweets from like that the blockchain.
Is there a block explorer? Yeah, I think there is.
I, I'm not the tech quiz to to answer all those questions, but
I, I just find that interesting. So if people are complaining
about TON being down, they're not doing it on crypto Twitter,
perhaps they're doing it on Telegram, which would make
sense. Yeah.
But folks, I think that is a good roundup of today's show.
That's going to be it for today. Thanks for tuning in for another
episode of FOMO HOUR. We will be back tomorrow.
It is Friday. We've got a big show.
Be recapping the week Mando likely we'll be back.
We'll have robot spits, robot Fridays.
We love those TuneIn and perhaps win some prizes with that.
Have a great Thursday. Go make it a beautiful day.
Goodbye.