Oh yo-yo what up, what up? Good morning, good morning GMG
Friday. Oh baby, Friday, Friday, Friday,
March 21st, 2025. Look at that another beautiful
day to have a beautiful day. I got my Co hosts in the house.
Oh, he's got this shirt on. Tyler Mendo.
Good morning. Good morning.
Good. Oh, Mando.
I'm jealous. Oh, fucker.
I swear to God, man, this guy's hosting outside in the sunshine.
I can already tell. Tell Amanda Good morning.
How you guys doing today? I'm doing fantastic, yeah.
Back in Portugal, I just, I love that.
I just want this like I'm so tired of like not having any
sunshine in the morning. I woke up this morning as a
first hand told Vanessa I was like, babe, I can't wait to just
wake up to the sun, like smashing my face.
I think Tyler, you'll relate. It was spring here yesterday.
It was actually summer. It was T-shirt weather, 18°C,
like 70s and tomorrow's tonight's going to be -10 or
it's like -7 right now. So it's like the, the, the
market, you know what I mean? Like Bitcoin was 87 K and I was
like 82 K again or some shit. Same things going on in
Montreal. I'm getting, I'm getting rugged
and you know, and, and every, every everywhere I go, Tyler,
Tyler, Tyler did it. Good morning.
How you doing today? I'm doing great, can't wait for
the show. We got 2 mega guests coming on,
two big ones. Yeah, man.
Oh, I'm. Excited.
Yeah, man, today's going to be Today's going to be a fun show.
So let's get right into that today on the show today, today,
I already see a bunch of pudgy Penguins and a bunch of tappers,
Wizards in the audience. Love to see that.
Where my Penguins at? Come on.
Come on, we're going to do Market Report.
Then we're going to go, you know, quickly over Tyler's
topics. I'm assuming we're not going to
have too much time to go too deep, but we'll we'll see what's
what the top headlines are for the day.
Then we'll do taproot wizard. It's a wizard, wizard, wizard.
So Rudy Wizard Heimer is going to be joining us on the show.
We'll talk, we'll talk all things taproot wizard.
But also, I've got we've got Tyler and I've got some
questions for him, OK. We want to know about our runes
and our and our and our and our puppets.
Amanda, I see your role in your eyes.
We're we're we're going to talk about this.
OK. I want to talk with Udi.
Yeah, he's. How dare you?
How dare you, right? Only one man can save Ordinals
and he's coming on the show today, so I can't wait.
Runes there's no saving but but we'll talk about that with udi
and then followed by Luca again. He was hoping the news would
drop yesterday so he could talk about it on the show yesterday.
It didn't happen. The the news dropped after the
show, so we invited him again. So we'll come in about 35 ish
minutes 40 minutes to talk about the pengu and pudgy Penguin ETF.
The Canary laughs. You know, shall Mando, you know,
put forward. So I think people are going to
end up like really believe in that one.
I love that I love that lore. So anyways, that's the show
schedule today again, we're going to robit loot box spins.
But for those who are not familiar, every Tuesday,
Wednesday, Thursday, Friday, we give away literally either red
guy or crypto punk. We've had three crypto punk
hands, one of them as early as two weeks ago and today you're
going to have over 15% chance to win in pudgy Penguin.
So there's a big chance someone's going to win a
Penguin. So we're going to give you guys
a code a little later. And last but not least, this
show. This show is powered by
galaxies. Galaxies, the Web 3 platform
empowering creators and brands to build on stoppable
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stay ahead of what's next Mando, you tell me what's next?
Who is the man's Michael? Daddy of the man?
Can you dig? It GM everyone.
We are back. We are back.
And. Well, we're definitely just
where we were, which is, I know which I've been kind of saying
for a little bit now, just don't just play the long term game.
Feels as though we could be here for a little bit of time, I
think before macro sorts itself out and then people work out if
they're ready to buy altcoins again and all the D Gen. stuff.
It's definitely, it's definitely it's zoom out sort of market and
don't, don't buy into FOMO. Don't, don't get too bearish.
I would say as well, at least at this level, like everything's
down so much, I think it's difficult to paint like an
extremely bearish picture for anything.
And I think Bitcoin still looks like the one that's going to
hold up the best, if I'm honest. Like it just it's still Bitcoin
hasn't really moved, right? It is.
It's that 83 five. Yeah, it's barely real.
Yeah, it's been kind of rating here.
It's. Been for a while now, very dull,
very low volatility in my opinion.
So I think I think we could be here for the weekend.
It feels as though Bitcoin like maybe as a little retest to see
if that 78 K was really the bottom.
You had Arthur Hayes saying yesterday he's flip bullish
thinks that 7877 K level was the bottom.
But I would be unsurprised if we, if we go like right, was
that really the bottom when we test it?
And we probably test it in a bunch of alts too.
And then and then you have a much stronger test of whether
that was really the whether that really was the bottom.
So Bitcoin dominance is going slightly higher again, back up
to like 62K. Again today.
Interestingly, like DMB has probably been the strongest and
is there continues to be a lot of D Gen. activity going on
there. Like whenever I do the man in
minutes, it's always B&B coins at the moment but.
Yeah, it is. At the top and I would say that
99% of them have the same narrative CZ or someone related
to Binance has in some way promoted or done a or bought one
of them or like there's a wallet.
They literally are just the same pitch for every coin.
CZ bought. Is that the?
Is that what's going on there? I'm not following.
There's 1 today, which is, you know, CZ's wife.
She was related to a coin, I think it was called Bob.
Oh, I. Saw it's 40 million oh man.
But there's a lot of like, we're going to run it.
But this is like Bob, they've pitched as like the fog of BNB
and somehow like someone related to Binance has bought them,
which is important because Binance has been listing some of
these coins. So there is like there's not,
there's not just like a reason why that happens.
Like they do this whole Binance alpha thing.
They've really switched towards being BNB coins recently.
So they listed like Mubarak, which is like that even Mubarak
meme. And they've listed tests.
They list they list tons of like just BNB memes.
It feels as though low key, I don't want to say crime season,
but there's definitely an insider season going on on B&B
at the moment. B&B mean gets B&B Alpha gets
listed pumps and then we do the same next week.
That's kind of what's happening. But B&B is doing well.
Like it's decks falling too high.
If you if you look at B&B and interestingly Tron as well.
These are the 2 coins, which are, I mean, Tron is basically
where, where it was in December, it's just gone sideways in a
very narrow channel. And B&B is similarly kind of
where it was last March. So it's, it's just going, going
sideways. So in a, in a, in a market where
a lot of our L ones are going down, those 2 are holding up
quite well. So if you're going to DJ, it
feels as though Tron and B&B are where it's happening.
Yesterday there was some integration that Tron is
obviously going to be is going to be involved with Pump Fun or
helping that they'll launch their native deck.
So we're going to see Pump Fun basically migrate to Tron, I
think. And but the rest of the market,
yeah, just feels a little bit sluggish.
I would say today if Solana, all the other kind of L ones are a
little bit a little bit heavy. Yeah, it's, it's just again,
we're back in another episode of the Chop.
Yeah. And I think there was.
There was like, again, there was rumours yesterday of this
capital gains thing from Trump. I think this is going to be the
rumour for the next two years. Just it's going to continue to
be with us. I would say there's a very low
chance of this going through, very low.
I don't know if there's a Poly market for it, or I know there's
not a DES stand for it or a myriad.
Sorry but. We should open one.
But The thing is, it's such a hard thing to resolve.
Yeah. And they could resolve.
It's got to go to it could resolve for ages.
Then it's got to go to Congress. But it's like the whole.
And the Senate, right, And they've only got very, very
narrow, very narrow majorities in both of those.
And I would say that in a time where they are pointing to
austerity, the concept that crypto Bros are going to get a
tax break, I just don't think it's it's not a populist move
like. It's not even too much volume.
That's very. Good.
That's this is kind of what I think you should be thinking
about here. It's a low probability.
So when you see headlines about this, be very wary that that
that Trump can't just do this. It's it's it's got to go to
Congress and to the Senate. And I think something like this
is which is would not have the votes to pass in my opinion.
It would take forever. It it can't just happen right,
But yeah, yesterday was just a Intel page, right, like during
the show just Kim comes out and goes ain't the hell breaking
news. We're going to fucking announce
0% tax and we all scrambled to even find where Trump spoke.
You know, even like even Tyler and I were looking everywhere
Mendo at the end of the show like yo, where is this thing?
And it ended up being like a prerecorded I.
Don't. Have two minutes Oh, the
mountains 2 minutes, 46 two hour and and 46 minute video.
So I thought that was that was a whole other conversation,
though. I think a lot of people reacted
to to that one. But anyways, all right, Mando
look, looks like the market is pretty straightforward.
Any you said it was a big macro week.
We got through FOMC. Was there any other like things
to pay attention to for the rest of the month?
Or are we kind of close to like what?
What is there to pay attention to?
I mean this week we had quite a lot.
So we had the the Bank of Japan and we had the Bank of Mainland
both held rates exactly the same.
And then you had the Fed next week.
I need to check. I actually don't think the the
last week of the I think we'll probably get C we'll get PC
inflation. I think normally in the last
week of of the month. Let me, I can bring it up.
But yeah, it's, it probably will be quieter I reckon next week.
But you know, maybe there's something that like derails us.
It seems like a strange 1. So next week we have, yeah, we
have PC inflation on Friday and we have, we have GDP growth on
Thursday. So those are, I mean, the Friday
1:00 will be probably quite big, but I don't think there's
anything really there that's that's absolutely crazy for
sure. Something that's up for an
interesting period here. So there's no April FOMC, right?
So it's like it's early May, May 6th, May 7th, I believe.
So somewhat smooth sailing, but I guess we've got the tariffs on
April 2nd. That's probably the next major
event. Fuck.
We'll see. Like how's that?
Is it actually going to go through?
Is it going to be fully retaliatory?
Yeah. So I think that's probably the
next big item on the right above.
Who knows with this administration?
Yeah. All right.
Well, we'll see when the next surprise is, you know, but
please, no more breaking news for the sake of this industry
and like our mental health, you know, not that we believe them
all. We even though I was remembered
Tyler yesterday, I was like, I'm not going to retweet that.
I don't think it's it's too legit.
But you know, please think of my tweet, the numbers yesterday,
but it's just a little bit like angering and then ended up
asking Sandra, I was like, yo, and you know, this real is like
you honestly, like I don't he was like, it's it's it's
actually wild because people reporting on news that even the
White Houses know about, you know what I mean?
So it's I think everybody needs to take a step back and stop
making everything about headlines.
I think bats had a good comment back to what I was talking
about. He was like, you know, it's kind
of become annoying that we're only reacting to like what Trump
is going to say or will say or will do.
Like since when is the entire market of crypto dependent on
this? It shouldn't like we've kind of
won that battle already. Like that's what we were talking
about with the Solana I had earlier this week, right?
Guys? Like we've already won the
battle that we made inside the White House.
Like, you know, you have bohans of everything.
You have David Sachs. Trump is talking about Bitcoin
every single chance he has a chance.
Did you guys see like Eric Trump as I was the advisor of
Metaplan? Like like, I think it goes
everywhere. Like, you know, we don't need to
keep pushing that. I think it points to the idea
that that people are looking for the catalyst though.
And. What you realize in this period,
you just have to accept that the next major catalyst is going to
be stable coin regulation. Trump has gone a record and said
that he wants that by August. OK, August.
It's true, it's true. He did say that.
And after that we would look to get RWA regulation.
Maybe we'll see some more details about like different,
like not, not the Bitcoin reserve, but maybe broader
crypto reserve. Interestingly, yesterday they
they said that mining Bitcoin mining is is is not subject to
the SEC. Huge.
Maybe they'll get involved in that as they continue to think
like. I think you're right.
I think that's the best call you've made here like that the
government was probably going to start mining Bitcoin.
I totally see that. Yeah.
And then and then you're really kind of just waiting on.
So then your catalyst from Washington.
I think I don't know if stable coin regulation really takes us
that much higher. Like, yeah, you probably have
banks who, who, who could hold it a little bit more and do
different things. But I, I don't know if it's like
absolutely massive. I think the RWA regulation is
much bigger. So I think if I was to think
about, let's say the top five catalysts that could happen,
right, Realistic ones. Yeah, break it down for us.
I would say it's a, it's obviously now you get, you can
get it's much easier for corporates, particularly in the
US to own crypto. I would say ideally some
headline about one of maybe the top 20 corporations or in the
NASDAQ, aside from Tesla buying crypto for their treasury.
That would be, that would be very, very bullish.
Because then you have a state where like most of the people
buying crypto at the moment are people raising money like like
like Sailor is. But if you had one of these big
tech companies or a company with a lot of cash decide, hey, we
want to buy some Bitcoin that, you know, you can, you can
potentially buy in billions of Bitcoin quite quickly.
So I think, I think it's that I would guess it would be more
headlines around sovereign wealth funds. the US one I I
actually think is a bit of a red herring.
I don't, I don't know how, I still don't know how that thing
is going to be finance. But I think if you've heard like
Abu Dhabi or Saudi Arabia or maybe the broader UAE or Qatar,
you know, there was a lot about Qatar in the past has come in
and bought a few billion, a few 100 million.
That would be a bullish thing, as would as would.
And then then it's stuff around China really.
So like, does China decide to embrace crypto a little bit
more? Maybe that's more like soft,
like you see a softening of their their policies on mainland
China rather than just Hong Kong.
Maybe that maybe that's maybe that's a bit much, but maybe
they do something like that. There's something about that
South Korea, South Korea might now allow Bitcoin ETFs.
Obviously South Korea's hugely in the top three for crypto.
That would be a big headline if they if.
They are. Crypto ETFs, which is, which is
likely, I think at this stage, yeah.
You're right, I. Don't know I I don't know often.
I mean, that is a big catalyst, right?
Like when you think about it, if you told me this a few years ago
or anybody in this industry, like, holy shit, what?
And it's funny, Tyler, that you sent us this D5 Llama tweet
about stable coins and then you have Matt Hoogan.
I was just like searching stable coins on the X and it's the
first way it comes out half an hour ago.
I can't stop thinking about this quote from US Secretary Treasury
Scott Besson. We are going to keep the US the
dominant reserve currency in the world, and we will use stable
coins for that. He goes, however big you think
stablecoin AUM will get, you're probably thinking too small.
So the question becomes, what does the rest of the crypto
market look like if stablecoin AUM is multiple trillions and
we've seen that before that global, our global liquidity.
And two, I think 1% of stable coins and it's 1% is very small.
Remember that Chris Bernsky tweet like 99% to go, obviously,
it's probably not going to go there, but like 10% doesn't seem
crazy, right? So you could argue that that
supply is going to 10X and what happens to rest of crypto?
Tyler, looks like you have some thoughts on this, then we'll get
to the topics. No, I I'm still trying to wrap
my head around the the impact of the stable coin growth.
I think it's clearly going up into the right.
I, I want to say I, I think it has to be net positive for, for
the, the top crypto majors. But at the same time like it,
that's like a gradual thing. Like I, I don't think any of
these are like the catalyst that's going to make Bitcoin RIP
back to 100K. It's like this week, right?
Stable coins are up 2.3 billion. They're up five billion on the
month and we're just chopping, right.
So I don't have my finger on the pulse of exactly like what's
happening, what's what's driving all of it, where it's all coming
from. But it is, it's one of the more
intriguing storylines to watch. And I totally agree.
Like it's, it's happening and we're going to have, we're going
to see huge orders of magnitude increases in years.
But EBT search chart is insane. That is so crazy.
Didn't say it was this thing 170% or something.
Guys like it is just non-stop is even remember this dip here
people are calling for like BTC Dom top here and Thorne is just
like just skyrocketed again. There is no top.
I love you. Oh Amanda, you muted.
I think you're trying to say something, right?
Yeah, it's interesting that if I know we feel like we've been in
a been having a bad time and it's this isn't really a
conversation for all coins, but for Bitcoin, Bitcoin is still
the best performing asset since Trump was elected, the best
performing major asset since Trump was elected.
It's, it's beating U.S. stocks, bonds.
I, I don't know about China stocks now because I know
they're up like 40 or 50% this year.
But it's if them in China stocks, which are still up the
most since Trump was elected. This whole Trump trade where you
bought like Tesla, Trump, media, all of that sort of stuff.
Maybe like the energy firms that has really reversed.
Oh my God, yeah, I did. Like the basket of Trump trades,
there's been a lot of analysis on it, and it's like it's got
decimated since the election. Yeah, right.
Look at that. That's Tesla, Yeah.
It looks like Ethereum, right? Yeah.
But it's there's a number of firms like that.
So like people in Tradfi think that Bitcoin is outperforming
just to let down. Like the conversation in Tratify
is Bitcoin is doing better than the rest of the market, that
it's more of a safe haven asset. They don't think, they're not
saying Oh my God, it's Vincent Murphy stuff because they're not
paying things to altcoins. Yeah.
So just keep that in mind that like, there's been a lot of
money in a lot of different things and, and yeah, people,
people think that Bitcoin's like doing well.
Yeah, that's wild. Well, love to see that.
That's a good. That's a nice narrative shift.
I like Tyler, let's run through your topics quickly.
But I see Udi Speaking of Bitcoin.
See you say Bitcoin, you whisper Bitcoin and then he shows up.
The wizard, He shows up. I see him in his zoo.
So Tyler, let's just I guess run down the topics quickly and then
we'll go straight to our interview with Udi FT and Crypto
analysis. Tyler T on FOMO Hour calls the
kids. Can yeah, folks, crypto major's
a bit red here on the day after a bit of a let down from Trump's
appearance at DAS yesterday, that that appearance was just a
pre recorded message reaffirming previous talking points and
saying he wants America to become an undisputed Bitcoin
superpower. So good message, but we'd heard
before markets were overhyped. As we tend to do in other
headlines, Canary Labs filed for a Pingu E2 at E2 Pingu ETF,
including the Pingu meme coin and Pudgy Ping.
I was so excited to say it. I bought you.
But this is a big one. We're going to be talking to
Luca about it in a few minutes here.
The SEC, as Mando alluded to, they shared that crypto mining,
specifically proof of work, does not violate securities laws.
Big win for Bitcoin, Doge and other block chains.
We saw biotech firm a tie. They're the latest public
company to announce Bitcoin. Treasury $5,000,000 in Bitcoin
they picked up. The Ton Foundation said that a
group of VCs including Sequoia and a few others have now
invested over $400 million in the Ton coin.
So the money pouring into TON, we mentioned stable coins are up
quite a bit. The ORCA token was a surprise
winner, jumped 140% after being listed on update yesterday.
So that was a huge one. We saw uranium digital folks,
they raised $6.1 million to bring uranium futures and spot
trading on chain by Solana. So you're going to be able to
trade uranium 24/7 here soon if. My people are happy.
A couple pieces of breaking news or not breaking, but hired Eric
Trump as an advisor that came out last night.
Interesting headline there. And then this morning right
before the show, Sailor has reportedly upped his strife sale
from $500 million to 720. So even more capital coming into
his Bitcoin pouches here in token air dropping protocol news
pump fun. One of the biggest stories of
the day. They introduced pump swap to
native decks sharing the immediately all pump coins that
migrate will go directly to pump swap with instant migration, 0
fees, more liquidity, and potentially creator Rev sharing.
So huge news there. Moon Pay landed a new $200
million revolving credit line from Galaxy.
Shout out to them Wayfinder, the Kaido effect folks.
They've seen 100,000 new wallets activated Kaido activation that
that Kaido activation was Monday 100 new 100,000 new wallets in a
week. That's that's pretty big
success. And then Walrus big news over on
Suey, three major announcements. Their main net launch is March
27th. They introduced their wall
tokenomics and they also shared they raised $140 million to
scale programmable storage on SUI led by Standard crypto and
A16Z. So some, some big VCs in there
rounding this out in AI crypto news, Virtual's unveiled new
virtual Partners Network. It's a council to help new
founders through their launch journey.
Mentify announced an AI powered, AI powered trading within their
marketplace. And yeah, that's pretty much the
headlines from today. Oh, it's folks.
You got to get your Bitcoin in those wallets by Monday if you
want to be eligible to go ahead and mint on Tuesday.
I'm sure we'll hear more from Udi on that here in a few
minutes. Start entangling.
You know, the last time I heard the term entanglement was during
the whole Jada Pinkett Smith, Will Smith thing when she said
she was having an entanglement with her son's friend or some
shit, right? Isn't that where the term comes
from? I mean, let's, let's, let's
bring him up on here. Woody No.
Bokeh tov how you doing? Bokeh Tov.
You guys have like the best GM you know in these rallies, like
Bokeh Tov, like it sounds so good, you know?
We say G meow. G meow Yeah, yeah, yeah.
I leave that for the fairies of Twitter.
That's a little bit, You know, I like that.
Yo, Woody, let me ask you something.
The. Entanglement stuff, you know,
it's look, some people are kind of more in the LA vibes and
they're into Jada Smith. I guess it's also a term in in
in quantum mechanics though. So right.
That too. Sorry, media, media brain here,
you know, So I, I'm assuming, you know, half of CT went
towards that where I went, the other half went towards.
The quantum probably like 70% went to where you went, yeah.
Yeah, probably Tyler. I love those topics though.
We'll have to go back on Monday on the pump fun and and and
radium thing because there's some beef on the timeline.
I saw. I saw some of the Radium
collaborators. That's what you're having.
That's what you did. They were not exactly they were
not too happy about about those announcements back-to-back, but
that's there's definitely a lot of movement on that front
quickly the code today. So the chance you know, really,
I wish you know, robot loot boxes took Bitcoin or ordinals.
But for now it's only a theorem. NFT is your favorite.
But the code today is wizard though.
So we gave you guys the code. We named it after you wizard.
So if you go to rafflebot dot XYZ, rafflebot dot XYZ, every
Tuesday, Wednesday, Thursday, Friday, we pick someone from the
audience live and we roll and you can win today.
You have 15% chances or 1313% chances of winning.
Pudgy Penguin. So nice.
That's not yeah, it's not bad. It's a quick little, you know,
10/10/15 grand, right? So you absolutely love to see
that was actually worth nevermind $25,000.
So it says pretty good. Anyways, Ooty man, so excited to
have you back on the show. Feel like every time there's
something big going on, I always text you.
I'm like, you gotta get you on the show to talk all things top
with Wizards. My first question to you, Udi,
is what the hell is happening with my pups?
What the puppets ordinals? I love the pups.
No, the runes. What's happening with our runes?
Udi we. Go.
We want to buy runes, man. I'm not.
I can't help you. I told you not to buy runes.
You wanted to buy the runes. I cannot help there.
I'm sorry. Yeah, it was in the name, right?
Like we're literally in runes now.
Yeah, Yeah, it was the name. Runes were, you know, we tried.
But you what you guys are you've re seized it.
So you're investing in Odin fun. So tell us about.
Odin Fun. If you want to try runes, then
yeah, the the place to do that, the place to do that is an Odin
Fun because what they did is they they basically took all of
the bad things about runes and threw them away.
That's true. And, and they ended up with a
platform that's really like, it's really cool.
It's it's fast, it's it's easy to use and you can use Bitcoin.
You don't have to, you don't have to trade against Seoul and
watch your overall Seoul bounce go down.
You can trade it with Bitcoin. Personally, I love that part.
So yeah, it's a pretty, it's pretty cool platform for
trading. And they're all new, like it's a
launchpad. So they're all new runes.
You don't have to carry your baggage of, of old bad rune
investments in there. So yeah, all we find is pretty
cool. Oh, wow.
So we're definitely never seeing our pups listed on there, Tyler.
So there goes that question. You know he's never.
I mean, maybe I, I don't know. It's it's it's.
You're basket of old ruins, God damn it.
All right, well, Udi, listen, we're not here to talk wounds
and stuff, though we did have a few questions on the ecosystem
as a whole. I know Tyler's got some
questions for you, but quickly like you know, I think I don't
think we need any introductions. You know, Udi Co founder of
tappered Wizards. We love the Wizards.
Honestly, I think you guys are one of the projects that really
doing some good stuff and you're literally trying to change
Bitcoin. So kind of want to ask you
first, like what's the latest here?
We know Tyler quickly mentioned your mint or the entanglement
happening at the moment to get a wizard.
So why don't you take us to the latest news and then maybe we
can ask you some more questions about all that.
Yeah, so after two years of, of sitting on those top Wizards and
people begging us to, well, I mean, we always joke that nobody
wants a top wizard, but the truth is people have been asking
us for two years to let go of them already.
So we're finally doing that. And there's been, you know,
there's the the thing about this collection, unlike most kind of
popular in PFP collections, this one is only 2000 pieces as
opposed to 10,000. There's really not that many of
them. So we just can't, we can't fit
everyone in. So we had a a couple of ways to
get into the white list. One way was the so-called in cat
entanglement that is actually closed now.
So you cannot do that. If you didn't do it yet, you
couldn't do that anymore. It meant if you hold 2 cats, 2
quantum cats, you could use them in order to get a spot with a
discount into the top of Wizards.
Then on I I believe it was on Monday no and on Wednesday 2
days ago, we announced the sort of wizard school whitelist,
which is all the all the awesome guys that have been taking
showers over the years. You've seen them on the timeline
they've they've had a bunch of awesome videos last week about
how they're going to earn O .2 Bitcoin to pay for the min
price. There are literally thousands of
those too so good picks, the best of the best and put them on
the white list as well. So at this stage, the white list
is closed. People who are on the white
list. Tyler mentioned that before they
absolutely have to go and fund their wallets and connect them
to the website by Monday noon Eastern.
Because if they don't, we have this long waiting list of other
people that want it. And if they don't do that by
then we're going to have to remove them from from the white
list and let them deploy it. So you absolutely have to load
your wallet by Monday after that's all said and done, the
mint for the white list is on Tuesday.
And after that's all said and done, we're also going to have a
small, a small public portion that that will go to a Dutch
auction. That one I'm really excited
about because it's the first time in Oronal that we're we're
doing something really cool. You anyone can connect to the
Mint website for the auction. Public part can connect to the
Mint website with Phantom wallet.
So you don't need to have an Oronal's wallet.
You can connect with Phantom wallet.
You can bid with Skull and if you win, you'll get the wizard
straight to your phantom wallet on Bitcoin on ordinals.
It's not bridge. It's not anything like that
Phantom has or no support for this, so you can pay with soul
that you already have with the phantom wallet you already have
and you get the wizard straight to your wallet.
So I'm I'm really happy about that.
That's the first time anyone's. Done it.
Wow, wait, that's actually really cool.
Yeah. Because the main hurdle has
always been, I mean, I love X first, by the way, wallet, just
some great wallets on there. I never really had issues.
But I'm just saying like you just make it a little bit
simpler. Yeah.
So you know, like our core, the reason we did it like this is
our core community, the ones who've been entangling cats and
the ones who've been like doing the white this since the Quest
and the showers and all this stuff they have have X first
they they're good to go. But for everyone else who's not
been part of the Oronald ecosystem and wants to kind of
get a taste, that's like the perfect way to onboard for the
first time. I think there's a lot of people
who are kind of like, yeah, I really want to talk to a wizard,
but how do I like, what do I do? So that's a really easy way to
get in for people who wanted. Well, that's huge news.
I actually didn't realize that. So that's big.
You're unlocking a bigger audience for sure.
I guess maybe stepping back for a minute, Temper Wizards have
been in the works for quite some time, right?
So like maybe tell us a little bit about that.
Like why was the journey so long?
Did you choose it? Like did it just did it actually
just take this long to develop everything and get it in the
readiness that you that you wanted?
Yeah. Tell us all about the journey.
Yeah, so it's actually been longer than most people even
think. Wait, but we're in the bear
market. It's.
Like a bear market. It's, it's so funny to me when
Bitcoin is like 80K and people call it a bear market.
But like, yeah, sure, I'll take it It it just means that people
don't hold Bitcoin, you know, that's that's.
No, nobody owns Bitcoin. So we, we inscribed the
collection, so put the Jpegs on chain forever on Bitcoin in
February 2023, so just over two years ago.
But we started working on this project even earlier than that.
We've started working on this around summer 2022, maybe even a
little before that, before Arnold's existed, or at least
before we knew that Arnold's are in development.
And the, the reason for that was if if you think back to the
previous bull cycle, you, you might remember that like Bitcoin
did not have the same kind of brand identity that it has
today. We joke now that a lot of people
just don't in crypto, don't have Bitcoin in their portfolio, but
back then it really was. It was like people people would
have been ashamed in in in on CT to say that they own Bitcoin.
It was considered like a pit. Brock doesn't do anything, never
goes up and and you cannot do anything with it.
And it's only for boomers and Maxis and whatever.
It had like a real branding problem at the time and we
wanted to start the type of Wizards collection at the time
in order to kind of improve that a little bit and create a
community for people who maybe are some of them Bitcoin Ogs and
maybe some of them are people who have been, you know, in
Bitcoin for a while or maybe newer to it.
But but but what they see on Twitter is just those kind of
laser I maxes and they can't be part of that because it's
terrible. So we wanted to give like
another way for people to identify with Bitcoin.
That was, that was kind of the point of, of Tapple Wizards
early on. We thought it might be like a
collection for Bitcoiners on Ethereum because there was no
good way to do it on Bitcoin, but that, you know, that kind of
never fully clicked for us. So we had, you know, we had the
artwork ready, we had a lot of the story ready.
And then when Arnold showed up, we were like, OK, this is
actually the perfect platform for this.
And that's why we kicked this. We we got this going like very,
very quickly. I think by inscription 600, like
the six, the 600 image on chain is, is a type of wizard already.
So, so yeah, it was pretty quick.
And then, you know, the, the entire collection was already
ready by the end of of of of that month and was already on
chain. But we always hope, you know,
people have been asking us to finally like distribute, admit
those by like we we kept telling people that this is this is
going to be something that takes a while.
And one of the reasons for it was I see this as as something
that has a chance to become a really kind of long term staple
of Bitcoin culture. And for that, you want to get
the right people in the right people are the ones who will
stick with you for a long time and not necessarily the ones who
will mint at the peak of the hype or whatever it is.
So even though, you know, we could have sold them for like, I
don't know, fucking 1-2 BTC at the pick of the Uno's hype and,
and, and make a bag and fuck off.
But I think that would have been bad for the collection.
So waiting has been like something we always knew and
always said we're going to do for a long time now we have this
community. I mean, it's obviously never
happened before that someone launched an NFC collection and
did not distribute it for two years.
That never happened, so I'm really excited to see how that
plays out. And there are a few people that
took money and never launched as a whole.
But. But they.
Didn't try to get the opposite. Yeah, they.
Didn't try to actually but let me ask you something.
Why are people so bongo here? Why is this MF for on my
timeline getting just punched for a tap of wearing a wizard?
Like what was the latest round? Oh wow.
That's not. That that had to hurt that bongo
that had to God. So what, what what's the latest
challenge? Because I I followed along the
wizard showers and everything that was great by the shout out
to you for making people on CT actually take showers.
Finally it fired. But why?
Why is Bongo out there just getting punched in the in the in
the stomach? Yeah.
So our last quest over the previous week was to make videos
where people you know wear a wizard costume and come up come
up with ways to earn the mint price of O.
Point, so there's. Been a lot of people with
original ideas. Bongo just had people pay him to
punch him, which is a great. Idea.
Yeah. That's a great business.
Yeah, he's a strong guy, though.
He came up to me in Paris and I was like, goddamn, he's strong.
So yeah, wow, look at this. Save his dress as a wizard.
Yeah, of everybody out there just as Wizards.
Yeah, man, this. Is great.
Strong, I mean, it's one of my takeaways.
NFT NYC2023I had folks coming up to me and talking about tempered
Wizards tonight. They weren't really a super on
my radar yet at that time. I was a little bit more focused
on in Ethereum and those peoples are those people are still here
sticking around. So they they stuck with it for
for two years. So that is.
It's it's really sound of the most amazing people I've met in
crypto, honestly, like and you know, they're creative too, and
they're funny and like, and they want to and they want to see
Bitcoin, you know, on the yeah, they do on stage, you know, so.
This is great. Yeah, yeah, there's a ton of
these videos. Right, there's so many I
remember watching review. Thousands of videos in like 24
hours so Oh my God 20 people like running through those.
I thought nobody wanted a wizard.
Yeah, I thought so too, but they keep surprising.
Me So what's? So what's this surprise 2 thou
2100 of them? Is that what it is?
21121, a bunch of them are honoraries.
Some of the honoraries have not been inscribed yet, but there's
like a few reserves for future honoraries.
The main collection is 2085. Did I hear honoraries?
Yeah. Yeah, no, you promised me
something two years ago now. All all promises.
All promises of the Temple Wizards project either have been
kept or will be kept. Promises made, made.
Promises kept, I think, I think we've, I think we've shown that
like. Yeah.
It might take us two years, but when we say we're going to do
something, we're we're eventually doing it.
You're from Banger events. You guys are everywhere.
I was just with FAR in Paris like a couple months ago
catching up. Your events are.
Paris was wild. I mean, I honestly, to be
perfectly honest, personally, I have very little to do with it.
We have just an amazing team, yeah.
You do. You really do.
And they killed it for the Paris event, absolutely killed it.
It was like it was what you had, like it.
And you had like this entrance where I don't just show up to
the next event. I don't even want to.
I don't even want to give people ideas.
Just next time, just show up. I know it was the same night as
wrecked and I was like fuck. Yeah.
It's always like that, right, those events like you have to
you're like so torn because like, yeah, I got to support,
you know, OB Mendel, the wreck family at the same time, like I
got far time and like, yo, we're throwing a banger.
You got to pull up. I'm like, God damn it, but but
it's it's it's awesome. Oh, you look, we don't have to
keep it much learning. Like honestly, like one question
for you is like Opcat, how's that going?
Because you know, on top of like, you know, I think behind
the scenes, that's one thing I've always talked about.
Like when I talk with you guys, the guys are actually trying to
scale Bitcoin like you actually like it's not like you're trying
to you tried to break. It in add functionality too.
Yeah, yeah. So you know, my Co founder Eric
Wohl published a thread about this a couple weeks ago.
We had a really interesting kind of visit to Hong Kong recently
where we got to meet a lot of the kind of movers and shakers
in the mining industry over there and and a bunch of others.
Minors are like a very important component in getting OPCAD to
work. It was, it was a very good week
because we had a lot of interest from these guys.
It's like OPCAD is like this kind of lobbying effort, almost
like a political lobbying thing because we have, you know, we
have the stuff that we were developing internally.
But in, in order for all of this to work, the, the UPCAT upgrade
has to happen. And that's kind of almost a
lobbying effort. So the visit to Hong Kong has
been very promising. There's going to be, I, I think
it should be announced very soon.
There's going to be like a big event, a public event in Hong
Kong next about UPCAT. We'll, we'll have more detail
about that very soon. It it's, it's going to be like
imminently, OK. I want to go.
And yeah, that, that that's going to be great.
I think in Vegas there's going to be probably some some
progress on that too. And on, on the developer front,
on the kind of Bitcoin protocol developer front.
One of the amazing things that have happened in the last 12
months is, you know, OPCAD and really just the idea of soft
forking or upgrading Bitcoin has been seen as a joke for so long.
Like when we first came up with this a year ago, we were laughed
out of the room. Basically, people would say like
these clowns think they can upgrade Bitcoin.
Who the fuck they think they are now basically, basically the
entire conversation of Bitcoin protocol developers around the
clock 24/7 is around how to make the next upgrade happen like it
is. It is literally in consensus now
that Bitcoin needs to upgrade one way or another.
So it the fact that this changed this much in 12 months is like a
huge, you know, it it, it's really an achievement by the
community of 1 cats and tuber Wizards that has been on this
and shown that they want this for so.
Long. That people can just cannot
ignore this anymore. And this is part of what the
quests are so good for when you see them flood the thumb line.
You can't ignore this, you know, No, you just can't.
There's you. You might not like it, but you
cannot ignore it. And it's been it's it's been
amazing, really. This community is literally
making things happen. Above that well congratulations
Udi you know love what you guys doing we're.
All thank you. Fans always going to support you
guys so really excited yeah don't worry about that Yeah, I'm
good on the shower side personally speaking.
You know when you live with a woman when the hack is just to
live with a woman right then you definitely can't not shower
right. So so we we make sure that we
shower anyways, booty dude best of luck for the future of
taproot Wizards. Thank you.
Now wait to see what's next and Congrats on everything man.
Thank you for coming, That was a lot of fun.
Thanks. Good luck man.
Peace, brother. All right, all right.
Well, that was fun. Love, Udi.
Love having him on. We're just going to keep it
rolling right up to the next guest.
We got Luca next in the house. Boo, Boo, Boo, Boo.
What up, Luca? Good morning.
Guys, how you doing? Long time no speak.
Yeah. Man, though it's been been a
couple months. Oh, man, oh, man, Luca, dude,
listen, the big news came out right after you guys left the
stage yesterday. You know, we got the Canary.
The Canary ETFs were filed yesterday, but not just for
pengu, for pengu and pudgy Penguins.
This is this is you. Just there was a reminder for
those of you that are on the Twitter spaces.
We're also live on video. It is pinned at the top of the
spaces. We go live Monday to Friday on
audio and video as well. But also raffle bought dot XYZ.
The code today is wizard. You have a chance to win a pudgy
Penguin. We 13% chances that the person
who comes up on stage, they wins a pudgy Penguin.
It would be nice to to win A to win a pudgy Penguin on a day
like today. So imagine you listen to the
show, you get all the alpha, you get wizard, you get the pudgy
Penguin shot and you get to win a pudgy No $26,000.
You'd love to see that. So anyways, raffle ball that
XYZ. Make sure you sign up as we talk
to Luca. Luca, big news brother.
First and foremost, congratulations.
I think it's a, it's a huge deal for the, for the space.
Tyler's got a bunch of questions for he's a resident Penguin
expert in the house. But first, Luca, how do you feel
after the news yesterday? And why don't you break it down
for us? You know why it's so important
for for for the pudgy Penguins, but also for the industry.
Well, I I tried to time it yesterday for you, so I.
Apologize. I apologize.
Better late than never. I think from our perspective
about like two months ago, I kind of told our Web three team
that like this is the place where I want us to focus.
And why I want us to focus there is because I think the pudgy
Penguin story and the assets within our ecosystem are really
easily digestible to the normal traditional finance type of
person. And now that these rails are
kind of opening up, it seems like this is a direction that we
really want to go in. And so from our perspective, but
we're working really hard to not only, you know, push this
through, but I think there's a couple other things here that
you'll see in the coming months in terms of what we're doing on
the institutional side to ultimately open up the rails for
people to participate within the ecosystem.
Again, I think when it you, when you look at these type of tokens
specifically, I think right now it's just DOGE and BONK
alongside Pengu in this like pathetic culture category that
has ETF filings. I think from our perspective, we
just feel like we have a really competitive pace, you know to to
kind of make to people in regards to you know what it
looks like to ultimately participate in the Pudgy Penguin
ecosystem. But I think it's something
that's really easily understandable for them.
So I think I think it's, it's a cool moment, one that I think is
pretty historic because of the NFT integration and
understanding that like the Pudgy Penguin ecosystem is both
Penguin and the NFTS and kind of opening up those rails for that.
But I've been in, I've been in DC twice over the last five
weeks and we've got a lot more things cooking here.
So I am curious on that note, did did you have input into like
the split of it's going to be X percent Tingu token in the ETF
is going to be Y percent NFT? Like what was that process like
to kind of make sure both assets got bundled into the the
product? Yeah, I think you got to
understand like when it comes down to inflows, you know
inflows $1,000,000 of inflows on NFTS are, are way more impactful
than $1,000,000 in inflows on a liquid token.
And so it's weighted a lot more for the token than it is the
NFT. But I think, I think the, the,
the weight is probably similar in the sense of like the
liquidity and ultimately what moves the needle based on the
percentage of inflows. And, and based on our
understanding, I think like $1,000,000 on the NFT floor
probably does the same thing that like 5 or $6 million does
on the token based on just like me staring at it and you know,
using it for the last, you know, couple of months.
Yeah, that makes sense. I'm curious, Hey, or two-part
question, how hard was it to pull this off to get here?
And then I'm also curious Part 2 like what is the approval
process look like and like how much is the team involved in
that and like what the the future here looks like?
Yeah. So I think the beauty of us is
like we have these relationships.
And so there's a lot of doors that are already kind of opened
in this respect. And so I think in terms of how
hard it was, it actually wasn't necessarily that hard in terms
of like the process is rigorous and obviously we're not the ones
filing it. So that's definitely, you know,
Canary has a a brunt of the way. I think the the hard part would
be the relationships and the connections.
And I think that's easy for us. And it's been something that,
you know, when your boots on the ground in DC, you can kind of
make things happen. Yeah, this is a big deal.
So you're telling me like this is so cool.
So you think like the guy behind the desk at Canary is going to
go like, damn, this trick goes hard.
He's he's going to be sweeping the floor and open.
See, you know, like that to me, it's so wild that like we've
come from 2021 NFT media. You know, we talked about this
on the show like or some point like NFTS, arguably more fun
than meme coins, etcetera, but you kind of have best of both
worlds. So now you can, you know, you
can just go buy how you pick a plush at Walmart if you just
want to, you know, the toy, or you can end up with the NFT or,
or the token if you want to have access to the ecosystem.
And now you're going to be DTS going to be able to to buy these
up. This is really cool.
Man, Fuck, this is so sick. I I didn't think it would be
possible this soon, honestly, for the NFTS itself.
That's really cool. Anyways, Tyler, back to you.
I just wanted to comment on that because I just think it's such a
big, you know, advancement. I know you got ties to Vanek was
like really a Penguin PFP and never changed it.
And then you have Bitwise Hunter Horsley who has you guys in the
in the index. Is it possible that we see more
filings on, on, on on NFTS like that?
Yeah, I, I think, I think we totally will.
And I think again, this is this is probably just one of I think
many things that we have coming year.
I'm also trying to think like, how can I just let the entire
industry, I'm actually pretty bullish on, you know, this stuff
getting approved. I just functionally, if I'm
looking at the landscape and, and what I think is, you know,
in the process of being approved, and then I'm looking
at, you know, not only the, the pengu ETF, but maybe just a, a
holistic NFTETF. Maybe there's a, a culture ETF,
right? There's like, there's definitely
a lot of that. We're exploring that, that not
only just benefits, you know, us and our ecosystem, but others as
well. I think we're in a position of
leadership and as leaders, it's our job to lead.
And, you know, ultimately, I think there's other things that
we can do for the greater community, not just the pudgy
Penguin community, as we kind of make these efforts.
I'm with you. I'm in the camp that I think a
lot of these are going to get approved.
Yeah, almost, maybe almost universally across the board.
That might be a little too optimistic.
But then the question becomes if all these ETFs are approved,
there's there's less differentiation in getting an
ETF. So how do you drive demand?
I think that's the number one question that I saw on the
timeline yesterday. So I'm curious for your
thoughts, how's the team thinking about that?
I, I think the part that I'm really focused on, like while
the market is the way that market is, is how do you just
optimize and create the best foundation possible to basically
put you in a position to win? And so I got like a couple
different buckets that I'm kind of like thinking about, which is
like on one side from an exchange listing perspective,
yeah, there's going to be 10s of millions of coins pretty soon
here. You'll probably have 100 million
coins, but there's only going to be 100 or 70 that are listed on
all the meaningful exchanges, right.
And so, you know, when I mean that, I mean, like Robin Hood,
Coinbase, finance, the whole lot.
And so, OK, that's a degree of separation.
And then maybe, you know, on the institutional side, you can and
have a couple different ETF vehicles.
That's another piece of the foundation.
Eventually, once you have all of those different pieces, I think
the big thing that I'm trying to do is separate myself from the
millions of other tokens that are coming out and, and that
are, you know, constantly being created.
On. This and once you have that
foundation, then it's a matter of how do you compete for
attention. And that is the part that like
has never worried us, right? Like a lot of people have filed
for an ETF. But if you even just look at
like how we rolled out the ETF yesterday, like we have the
ability to get more noise in the next person.
And I think if you have the right foundation and, and the
right story, which I think we're on the precipice of having the
right foundation. And I think we've been telling
an amazing story for the last couple of years.
And you kind of pile that on with like huge moments and huge
marketing sprees. I think like the ability to
create demand is probably the least of our worries.
I think the the worry or the thing that we're focusing on now
is making sure that we have the necessary foundation so that
when we create that, that demand, we can capture that
demand, right? I think the difference between
US and everyone else is everyone, I think will have a
moment in which they can kind of garner and facilitate attention.
How much of that attention can you capture, I think is the
important part. So we're just really going
steadfast and just understanding like, look, the market's choppy.
We won't really have that much clarity, I think.
And I think things won't get that bullish until maybe towards
the later end of the year. How do we put ourselves in a
position so that, you know, when risk is on, right?
We are in places nobody else is in and we can capture those
inflows, right? And, and, and I think that's the
game that we're playing and I think it's going to work out
really well for us, you know, as the market turns around.
I would agree. I think you you.
Would teach. Them the ability to capture
attention in an ongoing fashion as good as anyone over the last
few years. So my hat's off to you there.
We've we've shared praise on this show for kind of words.
I shared some positive thoughts yesterday.
There's been a lot of critics on the timeline as well.
So I wanted to. There's folks in my timeline who
said it was the dumbest thing they've ever seen.
I wouldn't give you a chance to respond to the critics out
there. Like everything, you know,
everything, every time we've done something, there was
something, it was the dumbest thing that somebody ever saw.
When we put plushies in Walmart, we were a little kids brand.
When we did a blockchain, we didn't know how to build
blockchain. Why are we doing that, right?
Like everything we do is is met with some skepticism.
And ultimately, if you don't have skepticism or you don't
have haters, you're probably doing something wrong.
Ultimately, like what the plan is the plan, right?
Like when I tell you that, you know, the intent for us is to
capture demand and to capture inflows and to separate
ourselves from the 10s of millions of tokens that are out
there. I mean, like, how could you
refute that? How could you say that's silly?
That's obvious. And ultimately, at the end of
the day, like nobody's barking at a DOGE ETF.
Nobody really barked at a bonk ETF.
But pudgy Penguins is in Walmart.
Pudgy Penguins one day will be on the big screen.
Pudgy Penguins one day will be, you know, in games on your phone
and on your desktop. And and we're just not going to
stop winning, right? And, and whether it feels like
we're winning in the, in this moment in time or not, doesn't
really like ultimately we've been on this rodeo enough where
it's like, look like we have a formula.
We know how to manufacture success.
And this is the obvious logical conclusion in terms of things
that people should be doing. And if you're not supporting
what I think is crypto's underdog and one of the most
beautiful stories that I think has come out of the industry in
the last 5-10 years, then that's your prerogative.
But ultimately, like we're going to continue driving success.
And I think laying the foundation and allowing people,
you know, if and when you can really breakthrough into that
peak mania and craze to participate, that is the best
thing that I can do for our holder base.
And that's the best thing that I can do for our community.
And, and how you can spin that any other way, I think is just
silly because if there's a DOGE ETF, there's no way you can't
believe there's not going to be a Pangu ETF.
Pangu is so much more relatable and credible and understandable.
I think the net new user today outside of maybe the history of
DOGE and obviously it's longevity and it's success than
I think anything else out there. So to me this is kind of obvious
and if you think it's silly, you probably think a lot of other
things are silly. So I'll leave that up to leave
that up to them. I mean, they did say a podcast
network on Twitter Spaces was stupid and we made it to the
White House. So at the end of the day, you
know what I mean? It's just, you know, usually
when the masses call something stupid, especially on cryptos,
whatever, you kind of want to take the other side of that and
and bet on that. I'm, I'm, I'm starting to index
more like a real, a real like #1 folks, I'm going to pull it off.
It's a little bit more, there's a little more magic and I think
things that I think people have yet to figure out, but like I'm
going after the XRP army, right? Like I'm almost I'm almost
graduated from this mindset of like catering.
I've kind of seen. Like dude that XRP army is crazy
bro we got to be more like them. Like that's a nerve I know I can
tap into. I'm, I'm, I like, I've seen the
best and worst parts of CT and, you know, ultimately, like it's,
they're going to continue doing what they're doing.
Like there's a whole world out there of people, millions of
people that are in crypto that are championing narratives, that
are championing, you know, tokens that are seeing huge
success that literally nobody knows what CT is.
And I think Pudgy Penguins is ripe for that group.
So, you know, over the course of time, I'm, I'm very confident
that we're going to infiltrate this net normie audience.
I like that. Very few people have.
Yeah, I mean, you already are Love it.
I I recently gifted. So you got another care package
from you guys. And I, I recently gifted like
all the little toys, like like the, my neighbor's daughter and
all that stuff. And they were just like running
around like screaming. So they came up to me.
She's like, thank you so much, give me a huge hug.
And like like little things like that and all the way to like the
ZTS and the blockchain and streamers that you just appeal
to like top down to like all ages in a way at this stage,
especially with the addition of abstract now and everything
that's going on. And then, you know,
institutional and there's an older crowd now with the ETFs
given that they get approved. So that would be really cool.
So anyways, look at it. Congratulations, love to see
that. Thank you for coming today.
That was great. And we'll be rooting for you,
that's for sure. So can't wait to see what you're
doing next. Appreciate you and I'll see you
in myriad markets. Hell yeah baby.
Much love. Peace out, Luca.
Bye, guys.