Yo-yo, what up? What up?
Good morning. Good morning GMG Thursday, Woo.
Oh. Oh yeah, OK, I'm back.
I'm 100%. I'm 100%.
All right, maybe 99 December 12th, 2024 four four.
Look at that. Another beautiful day to have a
beautiful day. I got my Co hosts in the house,
Tyler Mando Sobby and the inflatable is back baby.
What's up y'all? Good morning.
How y'all doing today? Fantastic.
How are you? Fantastic, phenomenal.
What up Tyler? How you doing?
I'm. Fucking fired up today.
Oh God let's go. Bitcoin broke 100K and literally
all hell broke loose. The AI market hit ten billion,
pudgies broke 100K and now every NFT is soaring.
I think today hit me when I was doing the newsletter.
I think today is the craziest roundup of headlines that I I've
done in like two or three years. Well, OK, this is a big
statement. You heard that man, though.
Did you feel like that with tremendous this morning?
Did you feel that too? Did are you feeling it?
It's freedom. You know what it is?
It's a taste and the sound of freedom because that's what it's
like. That's what it's like when
America's back. Speaking of America, we've got
an American super builder in the house here today.
It's the bond. What's up, baby?
How are you doing? I do live in the Cayman Islands,
but I'm doing great. Dude.
Saw Donald Trump, you know, open the ringing bell or opening
bell. Ringing the opening bell today.
Markets are up good. I think it's just crazy.
I was just thinking about this like I remember being anxious
about the election just a month ago and it's what, six weeks
since since the election and also feels like just four days
ago everyone was like, oh, it's over.
We got that nice little leverage flush.
But dude, we're so back. And I think the biggest thing
too for the regulatory clarity stuff that's upcoming is there's
so many cool products that can be used for crypto, like deep
end gaming, etcetera, that now that these, you know, now there,
there's no regulatory frameworks or hopefully going to be
regulatory frameworks, we're going to see a lot more value
unlocked and created in crypto. And I think you'll see real
builders like legacy builders that are building stuff in AI or
distributed systems just have to use crypto rails.
Like everything like even investing outside of crypto, I
think is going to eventually have a crypto angle now over the
next few years. And I'm I'm stoked about it.
Yeah, yeah, definitely. I mean, you know, you had to
move to Cayman Islands for a reason, right?
And I was actually just talking to logs about this like 15
minutes ago before coming on the show.
I'm sure we'll get there. How a lot of American
entrepreneurs were chased out and it feels like for the first
time, it feels like you can kind of like it's starting to come
back in, right. So we'll talk about that though.
We'll talk about that. So anyway, stay on the show
today, today. So we're on video, we're on
audio, we're everywhere. We've posted, posted broadcast
link, come through, come vibe, come hang.
I think this one's going to be interesting.
I don't know, it's been a while, so I'd still be on the stream.
I don't know if you're still out of pocket, but we'll see.
You never know. It can come at any time.
It can come at any given moment. But but we got the legend in the
house. Amanda, what are you eating
today? The burrito again.
You're like the burrito King, like.
They just go give it to me just now.
I love that. I love.
That they have burritos and Portugal, the outlet.
You guys make that stuff over there?
Are you on the on the view there's a third world country as
well? No, I just didn't know they have
burritos there. Did I?
We have. We have food.
Yeah, yeah. That's not How I Met dude.
I just didn't know there was no no.
No, no, we, we have all the basic necessities, running
water, food. What he what he didn't tell you
is that his wife had to go like chop the chicken out in the back
and then, you know, and then just get the get the burrito.
It's literally farm. That's how Mark Zuckerberg does
it, dude. He's living life.
Exactly. It's literally called that farm
to table. Anyway, so the show today today
market report as usual. Let's go to let's talk about
market real quick anyways, you know up only that's what's up.
We're back in super cycle bear market's over Tyler's top
1,000,000 today because Tyler said it was the most exciting
roundup he's ever in three years.
So definitely make sure that he goes through some stuff.
We got so big to talk to us. We're going to hang us.
I didn't hear so be taking a bunch of the stuff that Tyler
Mando going to talk about today. I need to know what you think
about this whole AI stuff as well.
So because now we haven't spoken about it a lot, but I definitely
need your take on a bunch of stuff.
And then last but not least, so B is here to talk to us also
about what he's up to with Zai games.
You guys are absolutely cooking, man.
The videos you've been post putting out this sentry note
stuff, everything. I mean, Zai has been like, I
mean, leader in in the gaming space, aside from the epic doc
coin, of course. You absolutely love to see that.
And then last but not least, robot giveaway.
It's 2 box spin day today, baby, So maybe someone will win a
punk. And then before we get going, Oh
my God, longest intro of my life and this show is powered by
Galaxies. With seamless built in
monetization tools, Galaxies enable development of
sustainable long term communities, fulfilling
Bitcoin's vision of decentralized freedom and
independence from centralized control, AKA the people who also
powered Trump's NFTS. Speaking of the devil and also
Fair Side network, every day we see people's wallets get
drained, especially right now. Actually, Fair Side is about to
launch the fair alternative to insurance for crypto scams.
Check out Fair Side Network on X.
If you get drained you won't get raked anyways.
Mando up to you baby. Yeah GM everyone so strong day.
The highest ever daily close for Bitcoin.
We closed above 100K. I think those two like big
levered flush outs that we saw was like the main thing that
makes us feel pretty strong here.
Funding is very low. Stocks hit all time highs again
yesterday as well so macros looking OK.
PPI came in slightly above expectations today but nothing
nothing absolutely insane. So you've got a Oh my God, this
person keeps calling me. I may need to ask actually go
deal with this. Maybe delivery, but the.
Yeah, this is all time right now.
Just never have. The so so nothing from macros
throwing off of course. CPI yesterday was kind of in
line, which puts us in a strong position today.
It feels as though again, the biggest sector gainers have all
been in AI, but Solana has kind of clawed back and seems to be a
pretty strong, a strong mover out of the majors back of up to
30. What we did see yesterday was
Trump, Trump's World Financial bought a few different alt
coins, chain link ETH. And what was the other one?
Yeah, Are they, and all those tokens are up like 30% and
Ether's actually up a decent amount too.
So people saw that as very, very bullish that they were doing
that. I, I didn't really read too much
into it, but definitely that caused a massive pump in the in
those tokens. So again, some of those altcoins
have had a very strong day. Wow.
Oh, they have Jesus. Yeah, Yeah.
So those tokens plus the AI tokens are kind of the biggest,
biggest I'm at. I need to go deal with this so I
will I'll speak to you guys later.
He. Breezed through it, but like the
the headline like literally like the Trump team is buying our
bags. So they bought $5 million of ETH
Lincoln Ave. last night and like I just don't know if everyone
and like yes, it makes sense like they're building AD 5
product on ETH. I guess it makes sense on paper,
but I don't think we're ready for them to be actively buying
and broadcasting their bias like this basically.
So I don't know, I felt like it was a pretty, pretty big
headline there. And then I think the other one I
posted about this yesterday is that one of Trump's confidence,
like Paul Manafort was at the Abu Dhabi Bitcoin Conference and
basically saying that everyone is going to enjoy seeing Bitcoin
prices go much higher very soon. It's just another signal that
like these guys are like actively bull posting Bitcoin
and also like we can leads to speculation that like, like is
the strategic Bitcoin reserve like actually happening?
It's like sometime in the in the nearest future.
So I don't know. I I got pretty, pretty happy
when I saw that. Yeah, that's some some good
stuff going on around the news. I mean, yeah, Trump's, Trump's
This morning. I'll play the video.
Actually, it's kind of it's pretty bullish.
And then Soby, I'll go to you after 'cause I'm curious to hear
your thoughts because I know you and I have been talking this for
years together behind the scenes, right?
And now we finally have like a crypto, a pro crypto president
in charge. So I'm actually going to play
this clip this morning. You're embracing crypto.
Different from the previous administration.
Strategic Petroleum Reserve, Like for crypto?
Yeah. I think so.
We're going to do something great with crypto because we
don't want China or anybody else, not just China, but others
are embracing it and we want to be the head.
We're going to be ahead of AI. We're going to be way ahead of
AI. And we've got to produce
tremendous amounts of electricity.
You know that it's unbelievable when you think that we need more
what we already have. If you think.
That's pretty for a specific industry, but we'll be able to
do it. We have Lee Zeldin in charge of
the environment. He's going to be giving us very
strong approvals, I think, and he's going to make sure
everything's good and clean and proper, but he's going to give
us very fast approvals. Love that.
Also that peak lapel on on Melania looks fire.
Anyways, Soby, what do you what do you what do you make of all
this? I know you and I talked about
this a lot. You know, behind the scenes,
crypto founder, crypto founder are being kind of chased out of
the States and now it feels like you can, you know, almost do
your thing again. What do you make of all this?
Yeah, I think for for so basically this is what I guess
kind of happened, right, Is you had Gary Gensler who came in and
I think what people forget is when Gary was was nominated,
everyone was actually really excited about him and thought he
would be a pro crypto. Oh really?
Pick? Yeah, did he?
I mean, if you go remember that time period when people from
exposing yeah, he's like shilling Algorand.
He also went and lied and see he's never used like Bitcoin and
stuff. But then he has lectures where
he says that he's, you know, holding and all this stuff.
So that's I think that's the important context that people
might forget in history is like Gary was supposed to be pro
crypto. People were really excited about
him. I think what happened is
somewhere along the line of somewhere along that whole
journey, you know, Elizabeth Warren, who happens to have
significant political capital amongst the Democrats, for some
reason decided I'm going to go target crypto.
Like this is going to be, you know, my next like thing that I
do. And I think Gary looked to that
and said, hey, I will be like her weapon to dismantle this
industry. And because of that, I'll get
her political capital to allow me to be nominated for, I think
there was saying the secretary of the of the Treasury, right.
So that's kind of what happened. And you can see that like
there's no way that Gary and that the SEC like actually
believed in half the cases that they did, right?
Like, yes, it was a different SEC, but they let an American
company in Coinbase go public. When you go public, you, you
submit this thing called like an S1 that has a lot of your
business plans on it. On that S1, they did include
things like staking as a service, right, Which is what
Gary tried to say was like a security offering or whatever.
And you're not protecting American consumers or investors
or capital allocators if you're going after a publicly cut like
a public company that you allowed to go public, right?
These are people that people are buying this equity on the open
market, whether they're putting on the Roth RA for long term
holding or they're just a part of their portfolio in general.
In addition to that, you have so many employees there, right,
that have RSU as a part of their comp package, right?
And these lawsuits aren't cheap. Then if you also look at like
all the scams that are allowed, like Gary was going around
meeting with Sam Binkman all the time from FTX, the biggest fraud
ever going right under his nose and and mind you did happen
under a lot of our noses, right. But there was there was rumors
that that he almost got a no action letter, which has only
been like a few or like three or five, three to five no action
letters ever submitted in crypto.
So either we're about to get like away with everything, just
the regulatory capture. Now what you have is it's like,
it's like night and day difference, right?
Like now you have this idea that, you know, like if I'm
operating in good faith, like they used to be, if you're
operating in good faith, it didn't matter.
Like the SEC would come after you, whatever.
It doesn't care what what it's trying to do.
In fact, they've created a, they've created a phenomena or
like a regime where like it was actually better to be a piece of
shit than to try to be like, to build a real good business.
Like it was better to scam as much as you can versus do
everything the right way. Because I mean, I'm, I'm sure
you guys went through this with like Mir you had for people that
don't know like the way you launch like a token now is like
you basically spend almost like 1,000,000 bucks and like legal
fees and all this stuff to get. Everything set up right?
Foundation set up was a quarter $1,000,000 back in 2021.
Yeah, it's a quarter $1,000,000. It's the foundation set up
that's and that's straightforward.
Quarter mil and we've spent $1,000,000 for sure since.
Yeah, like I, I would be talking to our lawyers asking them, hey,
can we do this? Can we do that?
They're like, they're basically their answer was like, we don't
know, but probably not like you're probably getting in
trouble because they'll just come after you guys.
So it's just, it's the night, it's a night and day difference.
And for, for us at least like it, it makes sense.
Like there's some industries within crypto like defy and
stuff where these people are like hardcore believers in the
technology. And you know, they'll people
will build perp Dexes and they'll build all this stuff
that like, you know, it doesn't take a genius to be like, hey,
this might be like a red flag or like red level of risk, right,
to build this. The problem that we always had.
And this is the problem that actually is going to, I think
going to help make gaming great again.
And crypto is there's not for a lot of game developers that are
just all they care about is building a good game.
It wasn't like worth the regulatory risk for them to
implement crypto into their game.
You know what I mean? And that I think is the is, is
like the really interesting thing is like now you can have
people that go like, oh, you know, even NF TS, I feel like a
lot of NFT artists or a lot of gaming, like gaming artists are
like, hey, I'll actually incorporate this technology into
the product I'm building. Same with AI guys.
Now that there isn't a significant regulatory risk, and
I still think people haven't figured that out is like the
reason why there hasn't been awesome products or awesome
games or whatever design is because the people building that
stuff honestly don't care enough about crypto to have to go
through a huge legal battle to fight for it, right?
Like think about how many companies before Coindesk got
all these Wells notices and got all these legal cases against
them. And Coinbase was one of the
first ones to be like, fuck that, we're going to go fight
this. To be fair, they also had a lot
more money than other people. But yeah, I think a lot of this
is going to change and and honestly couldn't have been a
better outcome for the for this industry.
Yeah, no, love to. Absolutely love to see that.
And I think it's going to help a lot.
I was talking to Ilan and logs I was seeing earlier today, you
know, Co founders and Dustin Bosso, CEO and CPO.
And we were talking about how like for yours we're like
chasing like let's say Asia this and that.
And now I feel like there's like this huge like comeback to
America for for for crypto companies.
And I'll just quote here Maple Leaf cap from foliage venture.
You probably know him. I wouldn't be surprised if
they're involved with you guys, right?
I don't know if they are, but and he wrote this morning over
the past few weeks, LP has been asking me what I think about
Trump's election. He goes in short term.
It is likely that the favorable policies promised by the US
president and his new team will be priced in from December to
February. The entire market will be
extremely hot and and prices will peak in for the for the
short term. But then he goes, I think that
was not the statement. The bigger one is the golden
age. The entire web through industry
is about to be born in the United States.
The next four years will be a cycle in which American Web Two
companies will come to the fore, the best entrepreneurs will
enter the game, and the world's largest capital market
entrepreneur entrepreneurs will embrace the industry.
The long bull market starts here and there is no time for the
industry to reach its peak. You want to be Max Long and
there is literally no top. I love that.
And then that's he's speaking my language there.
Then he goes for Asia. This era should be both exciting
and frustrating. The former comes from the Global
Entry, while the latter comes from the lack of understanding
and support from the motherland. For Folius, this is a good
opportunity to talk to them about his, his fun, et cetera,
et cetera. And how good this is.
Like, I don't know, like this had me like going this morning
because I mean, this someone I got to speak to in person in
Hong Kong. And I know that he's he's
pretty, pretty smart when it comes to stuff.
But also like, I don't know, man, like this is super positive
for space in general. Like regardless of people's
thoughts on on Donald Trump, whether you voted for him or
not, like the truth is, since he came in president-elect, we were
all like, hey, will he like, you know, follow on his promises?
And so far with the people it's put in place, looks like he is.
I mean, Tyler, I don't know. What do you, what do you, what
do you think of this, you know? Yeah, you, you're spot on.
I think there's, there's two ways I'm looking at one,
companies who have been on the sidelines are thinking about
moving to other jurisdictions like they're they're coming back
or they are excited to now build a launch in the United States.
Like that is a fact. A crypto boom is in the early
stages in the United States. I, I firmly believe that.
And then just from like a price action standpoint, like we, we
had this mental model where we were going to pump to the
inauguration and sell off. Like if you're thinking about
selling off in January and February at the beginning of a
four year boom cycle, like what? What are you doing?
You mean the 12 year super bull market?
I mean, yeah, maybe it it could go much longer.
It's like, why are you trying to time a a sell at the very
beginning? I just this never made any sense
to me. It makes even less sense to me
now because like we're, we're just the early stages of all of
us. So companies are just going to
start building now. Yeah.
I don't think anyone's bullish enough. 100% no totally agree.
So anyways, I think I think on the market side, I mean unless
mentally anything to act to add, I think that was that was really
it, right. So long as it So what two 30s,
you know, E4000 Bitcoin one O 1 quickly.
So beyond that, what what are your predictions for the short
term? I know Mando was saying pump
into the inauguration, maybe a slight little cool off, but then
obviously then then we continue to RIP Tyler just kind of made
his what what do you what do you think?
What do you think the market goes?
Up. That's it.
That's all I needed to hear. All right, perfect.
Just stop. I like that everyone is like
turbo bulled up, you know, to the poor Armando.
I don't know if you know, but Soby also joined the club,
bought a match and watch. So you know, the signals are
there. The signals.
Signals are there no that that this isn't this is like we we've
grinded it too hard for that to be a top signal.
The next top signal is is probably going to be like when
Amanda like unironically thinks about buying like a Township in
Portugal or something. That's going to be this like
that's going to be the top port. Township, all these references
to to Portugal being third world it feels like.
But. Dude, we have townships.
That's like what you call a town.
Did your delivery come on like a carriage with the horses?
So I said to go pick it up and. Look outside and there was two
guys like breaking into my garden and I was like, oh, these
must be the delivery. Guys, I need to stop.
I'm moving there in January. What's up?
Tyler? Were you going to add something?
I want to share this anecdote. So I was talking to our
financial advisor yesterday and he's actually pretty anti
crypto, doesn't know about it, doesn't touch it, doesn't even
want to talk about it. And we were talking about maybe
he's doing some rebalancing. He basically said with Trump in
office, you don't want to sell any crypto.
So I can't even like the anti crypto crowd see it like the
signals are obvious and they're getting louder everyday.
And on top of that, this morning, you know, BlackRock
says that up to 2% Bitcoin allocation is, is reasonable.
So you have all the families that are, you know, I mean your
family man, Tyler, I'm sure you don't gamble, gamble with the
side of the money that's like to your kids and shit.
Or maybe you do. You probably put your you
probably have all your kids, college, pension funds and
fucking fart corn right now, for what it's worth.
You know. That you know what I mean?
Like dad, how do we get so rich? I just bought a fart corn and
chilled. Anyways, Tyler, up to you.
There's a lot of headlines, but I got to get the top story to
the Pudgy Penguins breaking $100,000 for the first time
ever. Penguin World Order is here, and
guess what? It sparked a massive entity
rally. We'll get to that here in a
minute. Bitcoin also broke 100,000.
All hell broke loose across all memes.
NF TS Ray Dalio said he prefers hard money assets like Goldman
Bitcoin his major economies face of looming debt crisis.
We had Trump's confidant Paul Manafort saying Bitcoin holders
will be celebrating much higher than $100,000 very soon.
He thinks at the Avenue Conference.
BlackRock as you just mentioned saying 2% allocation of Bitcoin
is reasonable. Then we had Trump's World
Liberty Finance sparking an altcoin rally by buying EF Link
and Ave. last night. Huge day for all.
The City of Vancouver passed a motion to become a Bitcoin
friendly city and explorers potential use cases, and then
Solana announced an 8 city takeover in the US in 2025 to
help accelerate crypto innovation here stateside.
In token AirDrop and protocol news, Phantom is now servicing
Pump Fund meme coins within minutes of launching within the
wallet, allowing users to view price history and incur progress
and more. Shout out to those rectoring
purchasers folks. Officially reached a 10X on
those rectoring class with the pump and Rep coin.
Ubisoft announced the launch for its new Captain Laser Hawk game
along with the free NFT Mint backpack, rolled out support for
SUI on its wallet and then treasure formerly treasured out.
They launched their own L2 via ZK Sync and it's Elastic Chain.
So they're going to be doing some migration of games and NFTS
for that and broader memes and NFTS.
Meme coin majors are green here this morning, most of about two
to 5%. Peanut soared after the Coinbase
announcement yesterday. The AI leaders are up 10 to 15%.
That market cap is knocking on $10 billion right now.
Griffane, Fart Coin were big winners on that list, but dozens
of winners. And NFTS, folks, NFTS are back.
We can finally say it, They are officially back.
ETMT volume over $25 million on the day.
All the leaders are up 10 to 70%, Doodles up 70% and a
massive rebound. Apes are up, the Penguins are
up, Uzuki's are up, everything's up.
And then Mochaverse announced a second Mocha AirDrop for
Mochaverse stakers. Oh, then breaking news before
the show. I guess anyone who attended Ape
Fest woke up with $3000 in their wallet.
There's an AirDrop? The fuck this monkey token to
anyone who went. So if you went, go check your
wallets. Check your wallets.
You went to Ape Fest and you made three grand there.
Your fucking trip was paid for. Probably because it's so cheap
to go out there anyways. I mean, I feel like we have to
start with pudgy Penguins and NFTS here.
Like I feel like it's only fitting that we start because
remember that that didn't Jazz and Luca make a bet guys about
the 100K floor, Jazz saying that no NFT will ever reach 100K
again. And then Luca took the bet thing
was the six figure bet there. So I mean, this guy's waiting on
a lot of levels. So 100K floor, huh?
Yeah, hit 100K yesterday. So I think it's on the back of
people find sitting down and doing some of the math on the
Pingu token drop potential allocations and Pingu token was
trading at like a 5 billion FTV on whales.
Granted caveat super low volume, take it with a grain of salt,
but just that number alone. People sing the magic eating
come token come out at 5 to 10 billion FDV.
I think it has people's heads spinning a little bit and
speculating about what the Pingu token could actually be.
So how much is this for Penguins?
I don't. We don't know the exact details,
this is all just speculation. OK, OK.
But folks are at 1 billion FTV, I I think it's around 23 K.
So at 4 to 5 billion, now you're talking 100K per per big.
Yeah, that's, I think that's, that's, that makes sense.
I mean, there's 40 billion gifts shares from Penguins.
Like it's arguably the most proliferated NFT brand in crypto
or one of the biggest crypto brands outside of it.
I mean, Sobie, you were pretty early to the pudgy Penguins.
I mean you're literally built like 1.
I got liquidated on my pudgies. Am I my ladies?
No. What?
When? I think it happened back in like
August or July. I think I didn't have.
I borrowed against them to gamble on perps, and then I lost
it all on perps at my friend's wedding.
And then I don't have e-mail set up for Blur.
So I was like, Oh yeah, let me go get my pudgy out of here.
And I'm like, oh, it's gone, it's OK.
And then all my boys gone. You'll be fine.
I see the Zai pudgy. You get.
You see the Zai pudgy. I love it.
I mean, you've been a you've been a fan for a minute, right?
I know your friend Luca and stuff Like what?
What? What's your estimates for the
opening of Pangu? Let's let's make some calls
here, boys. Like what does everybody think
Pangu opens at? I mean, I think it depends on
basically what the I think it depends on what once we get more
details on the community air drops, because I think the the
the actual air drop to the bigs and littles, I don't think
they're going to sell like everyone's so rich right now or
like a bullish that I'd be surprised unless people were
really hurting for cash or had multiple that they'd really
sell. But if it's like I don't want to
just throw a random straight, but like if it's like clone X or
doodles are included in that shin, those guys are down bad.
They're probably down to sell some of their paying their
tokens. So I think it depends on like
the. Throws some strays.
Like if if it's an NFT collection that's been around
for a while that is down bad if I get some pain goo I can see
that being like the cell like the cell pressure come in.
But honestly should be around the same price as Magic Eden's
token. Interesting.
What's that at now? What's that at this morning,
Tyler? What are we looking at for it?
Went sub five. That's like.
Yeah, OK, interesting. Amanda, what do you think you
mean, Tom? What?
What's your what? What's your prediction here on
Pengu? I mean these numbers seem high
to me, but I I. I don't know.
Like what? Why is this so much better than
the ape coin for example? I mean, but but that's the
thing. Ape coin went to 26 bucks guys
right but. Where is Ape coin now?
Well, like $2.00, call it you give or take once I.
Mean maybe it goes to yeah, maybe it goes to 3:00 to I, I, I
actually just have no idea. But like maybe it does go
multiple, multiple billions. I mean I can tell you the
difference is 1. Like pudgies are seen as like
Luca is seen as a winner. Yeah, and someone just called me
the the Temu version of OSF and the SO.
Someone walked into our house in Miami, went to Ovie and went
Sobie. And there was was that?
Was that you or I? Swear to God on my mom's life
some random person came in went to OB and went sobey and they
were so excited to meet OB and I started crying.
Anyways. I think like pudgy Sense minute
is at all time high. I think people want it.
They want it on the end. That's not the same as the Yuga
brand. Like let's just be honest,
right? They're doing well.
They're rebounding off of the bottom, but people aren't
kicking and screaming to to break down the door to get into
Yuga assets. Right now, no, I agree.
I just, I don't know for five to 10 billion, like that's, that's
high for a meme coin. Sure, my.
Brother, you got to turn that brain off.
Like we're talking like Golden Bull Run, like super cycle shit,
like we're talking like, you know what I mean?
Like. That's what Trump's going to
buy, Pingo. Yeah, like.
My my experience of meme coins on ETH versus meme coins on
Seoul is it takes a gargantuan effort to get a meme coin above
a billion dollars on. This is true.
This is very true. On ease, Once a lead is formed,
you know that's going to be the leader, like Pop Cat has been at
one for. Months.
Right, absolute. It takes so much because there's
so many new coins. So yeah, I agree with you.
We're going to have a lot of blosseness.
But I do think I, I just think that any meme coin above one $1
billion on, on Solana, it is difficult.
It's really, really difficult. Let me count on that one one
more time. With, with, with.
Well that's because they all have terrible terrible unit bias
and BONK is the only good unit bias token on Solana.
What is that 3? And it's at 3 billion.
Yeah, so we think this flips bonk.
Yeah. I think it.
I mean, I think it. Can flip all three.
It. Can it can flip all the bad unit
bias tokens because you can get billions of these.
I, I have to say like I, I, I, I'm on team Tyler here for this
one. Like I, I think like this is
like a billion dollar open based on cult and everything that's
doing well and I feel like. I didn't go to a billion
dollars, I'm not saying. That what I'm saying it's like.
And I'm, you know, I'm not, I'm not mid curve like I do.
I'm just telling you that Solana Meatball is above a billion
dollars. Guys, I'm not just.
Like, Oh my God, it's going to be there and it's there forever.
Like people fucking eat this stuff hard.
What do you guys think is a more popular character than the
Penguin though? Like in crypto I feel like only
Pepe and Doge are more popular than the Penguin.
And maybe the milady, but I think the Penguins more popular
than that, right. So it's like I mean we all have
these behind us, right, Like it's like I I think yeah, I
don't know, man, I I think billion dollar open.
I think like Soby said, like all the communities that are
probably down bad like Sal, but I think that the collective
thinks that's going to five to 10 bills.
So I think the collective can take it there, you know what I
mean? So there's always the question
of who's the buyer, right. And like for all the air drops
in the bear market, like we couldn't answer that question.
Everyone I know wants to buy Pingu if it's at a billion
dollars or lower, like people are happy to buy at those and
interesting. That's why I think it does go
higher than that. 1.5 to 2 was my kind of mental model and now
some of the pre market action has my maybe getting a little a
little little more bullish on that.
Do have a good pre market bullishness?
I do. He loves his AVO markets
anyways. Just quickly, why is the code
beta today? What the fuck seems.
Terrible code. What?
Yes, we launched, we launched the beta, didn't we?
It's live now, so let's go with it.
It's linking it up to it, yeah. Then it's time to marry.
The article? Come the fuck on.
OK, come on. Oh, come on Mike, come on Mike,
come on Mike. Look at this.
My team teaching me about my own shit.
He's right though. So rafflebot dot XYZ, rafflebots
dot XYZ code is beta if you want to win a punk today.
And by the way, peep the new Marriott PFP.
It's. Gorgeous.
Chat to mungo for that and by the way we have the the Penguin
market so let's check this out so be you're going to love this
like what we launched dude. So if you go to Myriad right,
right now, we should we're going to do this with Zai too.
We got to do it with Zai. So we we have a special markets
just for Penguins on their own thing.
Yeah, it's and it's actually been like going very, very like
the activity done is fucking through the roof.
And just for having a pudgy Penguin, you get a ton of points
on Myriad. And you know, if I were you,
including my friends, I, I probably be spending some time
on Myriad a little bit every day, you know, catching those
points. Where are those points going to
turn into? The points.
This straight fed posting dude.
Trump's America. What do you mean?
So I mean dude, like, you know, I am in the Cayman Islands
myself as well, by the way, so we should go surfing, leader
anyways. OK, you're going to go swim.
OK, I'll go be surfing Tyler, and then we'll get to Soby
inside everything in 5 minutes here, Tyler.
What else? What are the top top trends
going on right now there's? So many things, like I don't
really want to get into the AI report because it was too much.
It was the bit, it was the most I've seen in a single day.
I think maybe we'll catch up on that tomorrow.
I think an important trend and it's pumping my bags.
I don't care. Like fartcoin is going viral and
tradify and it's becoming too big to ignore.
It's like the I'm becoming a fart Lord.
The, the StockTwits account posting the meme of the guy
throwing away the intelligent investor and quoting the price
of Hardcoin. That's just going to keep
happening. Like the, the higher it goes.
And it's just so it's just such an easy like engagement farm
joke to make. And they're all in on it.
And I mean, now it's at $560 million.
It was, it was at 203 days ago, 400 like four days ago.
It's 3X off the bottom more than that.
That's when it started going viral, I felt like.
Yeah. Comfy and goat so I.
Think the the big thing happening.
So AI16Z is now over 900 million.
So like we're seeing, we're seeing like the utility and
infra place actually. And then if you're up to, I
listen to direct radio with the the bank list AI lead.
Team was pretty. Good.
And like the liquid funds are, are it's obvious they are
focused more on the infra and utility place.
And I think it's a little bit easier to write underwrite,
right. It's probably a little bit
easier of a pitch. So I think those are all
levelling up and it still doesn't make sense to me that
virtuals has worked 2 XAI, 16 Z. So I think that's an obvious
catch up trade. Virtuals is.
I don't get like no one's even using it anymore.
Because AUI is impossible to fucking read.
Like no, you get to. See it from the June, right?
It's like I I don't understand why that coin keeps on hitting
all time highs versus what's been going on there.
Maybe Coinbase rumors. I don't know like there's also
that like it's a base product, it's a protocol.
So maybe it's not really doesn't.
I don't know. I I don't know, I don't know.
But whoever's out there, if you're making money on four
coin, just rotate the goat. Give me a little.
Give me a buzz. No just to goat buy goat please
I just right so we the only one that buy goat right?
Dude it's actually crazy that four coin is goat beta and it's
flipping goat. Is that like one of the first
instances where like the beta flips the alpha?
But it's not. It's not beta, though It may
have started as beta, but it's not beta.
Four coin is alpha. I don't think people know.
I I think the people buying four coin right now, I'm not aware
that it's it's an AI coin. That makes sense.
Though but it's. If you see from stop twits,
you're not going like, Oh yeah, this is.
It's not, Yeah, yeah, meme coin. It's a meme coin, right?
It's a meme coin, hard coin. It's not tied to any LLM Super
agent, and it's not tied to any of the grift, which is why I
love it so much. So what's your take on the whole
AM meta? Dude, so I actually, I have two
friends of mine. One of them is like MIT 10X
engineer, like literally working at AI startup in SF right now
where they're like fixing CAD CAD is like the 3D modeling
software for like industrial use cases, etcetera.
And I sent them both to Ribro and virtuals and and AI 16.
He's like, this is all fucking redacted was his take on it.
He's like none of this is like proprietary at all.
It's all just GPT wrappers. So I do think like my my this is
my mid curve take two because I did I didn't necessarily fade
everything. I just was been been busy with
like work and then I could I didn't buy far coin at 1 mill
faded virtuals at like 8 cents. Wow, Zeribro.
I actually like been listening to the album.
I actually think Zeribro was like pretty cool, but faded that
to that like, yeah, but I don't know if like the Asian framework
stuff that like from my understanding, and I have to be
honest, I haven't looked that much into it, but it's like
there's Wise or Pyz or whatever it is like the framework that
Zaribro's putting out. There's like the ELISA framework
that AI 16 ZS put out and then whatever the virtual one is.
To me, it feels like these the market is pricing these things
because they think they're going to be like infrastructure for
for tokens, but like none of these people are using custom
LLMS or maybe they do let you use custom LLMS and you're
paying for data storage or whatever is the cost that they
mentioned to me. But I do think AI agents are the
future. I just don't know if this first
iteration of stuff is what the future looks like.
Eventually I think you're going to see some guys that go like,
oh, holy shit, I can go like build an AI framework, building
the public, have good token distribution, not be a scumbag
and like get a liquid instrument listed and like be worth a lot
of money. I think like the AI agents play
except like virtuals. I think what I will say about
them is they have an interesting live rule with their token, like
where the token is like used to mint a bunch and it burns a
bunch and there's like a lot of revenue that they're building
like throughout the token. So I do think that's cool.
But like Truth Terminal is interesting because it's made, I
saw Mando's tweet today, it's made like $34 million in two
years. You know, I, I remember like
month 2, excuse me, two months. My bad.
Two months feels like two years. 100%.
The, I think Sam Altman or someone, one of these AI guys
was like, I wouldn't be surprised if you started seeing
AI agents become like millionaires.
And, and as far as I know, the first AI agent that became a
millionaire is Truth Terminal, right?
So you're seeing all these like thesis is that the AI think boys
have like only really play out in crypto.
And I think the the great AI bull run is going to be when you
have all the AI guys. Dude, there there was this
fucking thing that came out from when the Elon Musk and like Sam
Altman lawsuit thing that's going on right now where open
AI, open AI wanted to do an ICO. Yeah, right.
So I do think like if open AI and Sam Altman like shift the
Overton window on crypto no longer being a scam and crypto
AI becomes a thing, you get all these giga brains to come in,
you'll see stuff that is going to be way sicker than AI16Z and
virtuals and all that stuff. But I do think the AI stuff is
worth paying attention to. I also do think just a caveat,
my friend that I was mentioning is like, those guys are like
really smart, but they're notorious midwits when it comes
to making money, right? So you got to take a little bit
of that with the grain of salt. So bullish on it overall.
And and we're about to start doing some, some AI agent stuff
down the line too, but it's going to take take some time.
I love that. I mean, you know Elon kind of
stole your company name with Xai.
Pretty sure you had Zai first. I'm just saying don't, don't ban
us, you know, but just just saying, you know, you can't
spell Zai without AI, you know, it's.
True. So he raises a good point and
frog that's kind of like I admitted this and we were
talking about making 12 month bets.
Yes. It's hard to make a 12 month bet
in this current AI sector just because the reasons, he said.
Because bigger players could come in and just, you know,
shove everyone down. That's actually the bull case
for GOAT, right? Is that that goats?
That's that's kind of my thesis of it all.
Like you saw Google yesterday released their whole Google
released their whole AI agent framework yesterday.
I don't know if you saw this. Wow, that's.
You. The Google stock at all time
highs yesterday because they announced like 10 different
agents always can do stuff on chain.
If you if we think that the current guys, which are kind of
niche off, I know like you're going to see huge people come
into this space is basically what I'm trying to say.
CZ just made another tweet about AI just now.
Which? Have prop tech, not open source
tech and they're going to come and get involved in crypto.
Like I think this is where I agree with what Sobie's saying
is like the the infra argument, like let me just put it this
way. I would be shocked if in a
year's time, the things that we consider the infra right now are
still the infra then I think Eliza.
Because it's been forked and it's unbelievably popular, but I
very much doubt that a lot of the other stuff will be used
infra for AI agents. That's, that's just kind of my
view. I just think we're going to have
like even yesterday we have we even the last week we've had
Griffane came out yesterday Ark came out, which is like another
one, which was like you're going to have very well funded teams
here with more with their own tech come in.
I think we're in the two loads and I also think the exchange
still getting on the ACT too like.
Oh, dude, that's a really good point is like even for us, like
I've spent so much time and effort doing all this fucking
abstraction shit for, for Zai, for like the games and over
time, like imagine if you could go on an exchange.
And like, I think like for for Coinbase, for instance, Coinbase
right now is trying to get as many users of theirs as they can
on base. Or if they just created a prompt
to text transaction framework right where like, hey, buy me
whatever, buy me fucking well, I don't know what the hell is on
base. Buy me some virtuals or buy me
whatever. And you don't have to ever leave
the Coinbase website. Like there's another group that
I know really, really smart founder like built was founding
CTO of $150 billion company in Web 2 that they're building
custom LLMS, partnering with NVIDIA, like custom LLMS from
the round up just to build for crypto.
And we're, we're trying to work with them, but they, they are,
you know, people like you're, I'll introduce you to them too.
But like those guys I think are going to absolutely cook.
Like the amount of really hyper intelligent people that are
building this stuff is like Mando said, it's only going to
increase. The smartest people in the world
are building this and we, I feel like we're throwing our money on
the first people who did it in crypto and there is novelty to
being the 1st. But I don't think they're going
to be the best teams over time, particularly as you said,
they're just rappers of other people's models at this stage,
right? When the people actually come in
with their own model, their own foundational model, is when
things can really be like, all right, this person's got them.
I mean, read that thing I just put in the chat on TechCrunch,
right? Google unveiled Wednesday a
first ever AI agent that can take actions on the web, a
research, research prototype from the company DeepMind
division called Project Mariner. Like they did a whole, they did
a whole presentation about it all yesterday.
Like. All the major tech companies
funded with billions trillion dollar market caps are now going
to come in and create their own agents.
I don't know if we're going to be using.
I don't want to cheat on any names, but like, yeah, I just
think that we're about to see like unbelievable levels of
competition to this. Yeah.
Like AI random AI agent, reply guy, random AI agent that does
podcasts, whether we're like, oh, that's just it's going to be
so hard to stand out. I think we're imagine if you
have like a, a Moat of some kind, perhaps like the data.
So like AIXPT, as I understand it has been building this crypto
data repository and that's what it runs off of, right.
So like if it does have a very strong repository for that, like
I don't know how difficult it is to to to remake all that and and
I'm not. Data store.
From my understanding, like the big one of the the two biggest
costs for these models are the actual compute costs for like
running like the the LLM and all the tokens for it.
But then the data storage is where the other cost gets
really, really big. And so the Mando's point, like
the best, the best it's possible at the best AI agent frameworks
have such a high cost of capital to I guess to maintain or run
that unless you've already invested in a like, dude, Google
has fucking more money than God, right?
They've invested so much money and to like these data centers
and stuff like it might be, it might be a thing where like you
need to like really well capitalized people to actually
run this stuff. Because right now we're still in
like the first inning, right? Like I think you mentioned
earlier, Tyler, it's only worth like 10 billion.
Like AI and crypto should be like one of the biggest
categories. It should be like a 500 billion
plus category in my opinion. Agree.
No, I I agree with that. Listen not to cut this
conversation short because it's great, but I definitely want to
get into what you're up to. So be here.
But first I want to play this video that you guys posted
because it's really freaking good and I love it.
Houston, are we? Are those affirmative?
We are clear systems are stable. Hard to believe how far we've
come. Time to enter the new frontier.
Godspeed. Friday, December 13th 0.0143
Houston are you? Seeing what I'm.
Seeing dude, this is fire. So Sobie, what have you been up
to dude, because Zai games is absolutely crushing it.
I mean when it comes to like gaming sector of this industry,
you're in total control here. So what's up with the sentry
note sentry keys, everything all going on?
Tell us more, baby. Yeah.
So obviously we kind of we created like a new primitive to
boot shop some of these roll up networks with like the nodes and
that went really well for us earlier in the year and earlier
last year thing around our puzzle actually.
So one thing that we noticed is because our old business thing
is we have an interesting framework, right?
Like our interesting flywheel. Our flywheel is this is like you
buy a node, we take the, the node and we the revenue from the
node we buy. We, we sign games.
When we sign a game, we get a Rev share and we get like tokens
for airdrops for our community, which goes to the node holders.
And then we'll eventually be using the, the Rev shares as
well to go and buy back some of the token.
Now what the issue became, just to be transparent, is like we do
have a solid amount of node holders all over the world.
They've spent a lot of money on them, but there's only several
thousands of them, right? That's not enough to actually
make this why it will happen. And now like nodes are going for
like a few 1000 bucks. That actually limits the
distribution cycle a little bit. So what we decided to do is
almost like fractionalize the keys.
So now you can go buy a key for like 50 or 60 bucks, whatever
the I think it's like $56. What the mouth comes down to,
which is about how much a gamer spends on a new game.
Anyway, what you'll get, I think right now the APY per key is
like 80 or 90%. Don't quote me on that, it could
be wrong. Just disclaimers on all that.
That's just from the Zai rewards.
In addition to that, you're going to get air drops.
And then we're also working on a new meta that I think is going
to be interesting of like notify with the meta St. guys.
So this way you can you can sell future yield like you can Pendle
your notes. You can like sell future yields,
sell future air drops, borrow against, etcetera.
And the way to think about it is like an air drop battle pass,
right? Like it's a battle pass that's
going to pay you to play games, but it solves 2 problems for
everyone. So one problem that it solves
for us is the distribution side of like now more people can
participate in this flywheel and we can kind of correct.
I'd say a mistake that we made in terms of, you know, right
now, like before fractionalization of the keys,
like a key cost like 5 grand. Do you like a gamer's not going
to pay that right? So we're, we're fixing that
aspect of it. And then in addition to that,
the biggest problem for games right now is getting tokens in
the right people's hands, right? And if people are running, you
know, people are holding keys and they're playing these games
and they're high quality users and earning these points.
Like it makes it easier for a game to go like, OK, you should
get a sizable AirDrop for what you're doing, right?
And so now we can start building this distribution gut like
weapon basically, where you can just point it at any game and
increase the success. And even without this engine
being fully running, like Rift Storm, one of our flagship games
is trending number one on Steam when they did their play test,
which is like pretty hard to do, you know what I mean?
And right now Valeria just went live with their played AirDrop
campaign. They're doing a two and a half
million dollar AirDrop. And then we have like Plan X
going live and we have a few other games that I'll tell you
on from private that we're about to close that are pretty big
games that people are are stoked about.
And again, we also were the co-authors on like the $250
million GCP arbitrary gaming fund and we're going to start
allocating some of that stuff there too.
And some other exciting stuff we're working on.
But dude, I think crypto gaming is going to be one of the
biggest kind of contrarian bets. I think it's going to come back
pretty strong because you have so many strong products and
teams that are launching. And what I alluded to earlier in
the in, in the, you know, spaces or whatever was the regulatory
uncertainty stuff is going to actually allow us to go
evangelize some of the best game talent in the world and actually
have them come build games in crypto because now they don't
have to worry about fucking going to jail for the SEC and
stuff. And that I think is, is a major
value in lock. And, you know, just
historically, consistently, like Zai, we've always kind of
punched above our weight class, right?
Like you only ever raised like 7 million or 8,000,000 bucks total
in venture funding finance day, $145,000,000 note sale, huge
AirDrop to our community, over $290,000,000 in rewards
distributed to the community so far.
And yeah, we just want to keep, keep doing that, keep
performing. You know, we had, we had, we had
an accelerated vesting schedule that front loaded a lot of
stuff. I think our last big unlock is
this month or next month. So everything's just going
really well. And the keys go live tomorrow
around 6:00 PM, You know, 60 bucks.
I there's, you know, if if someone's interested, reach out
to me, I can get you a referral code, stuff like that.
But yeah, I think what we're building is, is one of the best
flywheels in crypto and it's going to cook.
I love that. So it's going sentry SENTRY, the
Zai XAI dot dot games. So this is super exciting.
Wow. So if someone wants to get
involved with Zai, it's that's like pretty much the easiest
way, right? Yeah, there's.
A lot of new people in the space.
So it's like it's, it's pretty much the easiest place to come
and like support what you guys are doing.
What, what else is up for with you?
Like what's the the thing you're most excited about for next
year? Dude, the stuff I'm most excited
about I can't even really talk about, but I what I am really
excited about is just getting really awesome games on our
chain. Like we've done a really good
job so far building a good reputation between our games and
and stuff. And I think like for me, the
biggest thing is like, if I wanted to make a bunch of money,
I honestly wouldn't be doing this.
Like it's just so fun to be able to play games, sign games, help
games be successful. And it's like games are just
such a thing that were like so near and dear to me for most of
my life. And I don't know, I think the
opportunity here, the way that I viewed it is like we're going to
build a gaming empire over the next few years, right?
Like we're very well capitalized.
We're very well positioned to do that and having the opportunity
to go and build awesome indie games and sign awesome indie
games and, and show people with the magic of crypto like that's,
you know, it's a dream come true.
And some of the stuff like, I guess like the thing that I'm
going to be most excited about it is like when we really figure
out, when we figure out how to like thread the needle, if you
will, with some of these AI agents and stuff, because I
think AI agents and games are going to be really interesting.
One use case that I've seen from the ARC guys, which is is when's
the AI arena, like the AIAI agents has player liquidity.
So what that means is, you know, like for for instance, when you
were playing like Fortnite during the bear market, like I
remember you'd always message our group chat like, hey, does
anyone get on? Yeah, Fortnite is like the
biggest game in the world. It and it even then sometimes
it'll take a little bit to queue.
You know what I mean? It's the biggest game in the
world. Now imagine if you're some
random game that's just starting or launching and people won't
play your game because it's a multiplayer game and it takes
five ever forever to get like your Q field.
But what if you could play with AI agents that were of equal
skill, right? And you could and they could.
These AI agents were also trained on the things that you
were like, like, what if you were fucking talk?
You're playing with the AI agent.
You don't even know it's an AI agent that's talking to you
about the Habs game. You know what I mean?
And you're like, oh, damn, this guy's like actually pretty cool.
I like playing with this guy. And that I think is like a
really under discussed aspect of it is AI agents in games.
And what that means is like, it's so hard for games to get
like escape velocity of having enough players, but what if you
could solve for that problem, right?
Where you could solve for that user experience, that player
liquidity side. So that's just one use case that
I think is pretty interesting. But there's there's tons of
other other use cases out there. And that's this whole idea of
like, I think what the metaverse was, right?
Remember, remember that whole yeah, meme?
I think we're going to see what people thought the metaverse was
going to be actualized via AI. Like I think the problem with
what the metaverse idea was, it was so dependent on UGC and it
wasn't like ubiquitous. There was so much effort and
time and stuff that needed to go into this stuff versus and two
years from now you were like maybe two years is a little as a
little liberal. But we're eventually going to
get to a point where you can just type in a fucking prompt.
You can type in like make Super Mario Brothers, but Mario is a
epic duck and the whole game will just be fucking generated
for you in like 10 seconds and you can just play it and then
that's going to be sick. Yeah, no, I agree.
I love that. Just reminded me that actually
haves off a home game tonight. So I haven't been to a hockey
game in a minute. He just reminded me that maybe I
should put a cheeky bed on and go check it out.
All right, well, dude, this is exciting.
So it's tomorrow century that Zidal games check it out.
If there's a gaming team you want to bet on, look, obviously
like, you know, we're we're we're advisors.
We've all been involved with Sobey for a minute, but there's
a reason for that. And I think that he's by far one
of the smartest people I know in my life.
So check it out 6:00 PM PST right yeah 6:00 PM PST it's at
2:00 AM in the if you're in the UK Mendo, but you guys will be
fine and then and then check it out 11:00 AM in Korea so century
the zydog games come and get involved with arguably one of
the best founders in gaming anyways it's giveaway time y'all
it's giving time, so be going to stay.
You are lucky charm today it's giveaway time sames.
Let's bring it on the board let's bring on the board.
What you have to retweet today is an article about myriad.
So if you're curious about what we're building on the Marriott
side, it's a nice article just came out and you definitely want
to check it out because fuck, man, we're so busy.
Shit, fuck. Anyway, Sims, let's, let's get
this giveaway going. We have a go to.
We have a GTM call right now.