Yo-yo, yo-yo, yo, what up? What up?
Good morning. Good morning GMG Ham, Thursday
September 21st, 2023. Look at that.
Another beautiful day to have a beautiful day.
I think it's today, the first day of of fall.
Or is it tomorrow the summer end on September 25th or 22nd?
Ohh you made it mind up 22nd. I think I read 22nd on your on
your lips though. So what you said?
I thought it was today. I thought it was today, right?
It's 21st, right? So that could be the equinox.
This is one of the equinox. Right.
Is it the equinox? No, I think it's summer.
Yeah, Summer solstice. Summer Solstice, Solstice.
So as 23rd this year that it ends all right.
We got two more days of summer I guess officially.
So it's still launching summer for two days and then two days
it's no longer launching summer. It's going to be a what do we
think is going to be let me ohh did everybody just get you guys
all got booed off stage just now rug radio mando and and and
everyone sorry I don't know I just did that but anyways yeah I
guess two more days of launching summer.
Two more days of whatever, some redacted you know your bank
summer until you know something fall happens and what what
what's coming in the fall. Like what are we naming this
fall? Survival.
Just. Yeah, just the full.
The full. Please note my bags.
Honestly, please know I was going to make a full joke as
well And I was like, yeah, maybe not.
You know, I don't wanna. I don't wanna call that.
But yeah, the fall. Ohh, 95% fall.
No, no, we're we're long right now, OK.
No, not yeah, right now we did. I did say we have two more days
of summer. So it's OK make sure we close
those before before the 23rd, right?
There's going to be something fall anyways.
I got my calls in the house. I know Obi is flying again, like
always. Always flying.
I feel like I've travelled more than him this month, but he's
managed to fly more than me. This is wild.
It is very fine for next day but but we do have we do have Plan B
over here can Canary labs has like this like long road of
plans right. You know men does not there is
gonna be another one right. Isn't it scary?
Just like it's just plan ABCDEFDI was gonna run down the
red guy. Well, I feel like I'm just the
bench warmer for everyone here, like I'm the I am plan BCDE.
FGH, it's so funny with the with the with Debbie.
Yeah, I guess like ABC would be OV locks and I, you know, I
think I think I would say Mika still differ now and you would
come in in in position, you know EI think for now Kelly, how's
that feel? I appreciate you taking that
actually and taking it like a champ, you know, but today's a
heavy macro day which is probably why you're here.
So anyways then the show today, today, today's a top four
because we don't have a guest unveiled at ART coming at the
end with Dave Krugman for quick little 10 minute segment.
So this should be a good one. Remember to get on the phone
call with them I think a couple of weeks or month ago about what
they were dropping. So it's actually pretty cool.
But anyways, top four of the market, the Fed, Fed, Spooks,
the markets. I'll let Mando and Kelly take
that on for sure. Then 95% of NFC NFT heard zero.
I mean there, there we go, here we go again 4/4 like all the
articles coming in strong got, yeah, I think we got ripped by
few of them over the last few days.
So listen, the entire market is a zero apparently.
I mean 95% does add up, but we'll talk about that later.
Frantic, frantic competitors on the rise.
Ohh, that's probably why my, my shares are that my keys are down
like almost by half, right. Like that's totally why that's
these cues. So you know, yeah, exactly.
So a friend, tech competitors again, competitors, everybody
trying to copy something that seems to work, but we'll see
what what what happens. And last but not least, Dolly 3
launches with some cool stuff to talk about today and with
Alfredo, Mando, Mando, Mando, Mando, once you get started with
the first topic and what is going on in this market.
Man, the Fed really did a number on everyone yesterday.
It was feeling a little bit heavy going into it and then
volatile during the press conference.
But then the the takeaway seems to be that they are going to
keep rates higher for longer, which is kind of what we thought
but they didn't, They might even raise rates one more time.
Now the markets like only 50% believe in right now.
I think it's like a still a 5050 bet that the market is
predicting that rates are going to increase, but.
But yeah, it was more hawkish than I think even people
predicted and now you're seeing like multi decade highs again in
bond yields. We're at the highs from about
2000 and seven 2006 in some cases.
So really, really high bond yields stocks have not like that
overnight and yesterday they were already on a downward trend
and down for a few weeks. But they really did cute
yesterday and they've opened up week again today I think down
about 1%. I I was a little bit surprised
at how badly we reacted given how hawkish everyone was already
going into it like positioning was was kind of set up for this.
You know, strong strong dollar yield, selling off stocks being
weak. I mean everyone was kind of
position that way for a few weeks.
But yeah, it's definitely, definitely spooked the markets
and crypto was holding up OK up until about this morning and
then people started throwing in the towel a little bit as she
started dipping even further lower.
So Bitcoin still hanging out around the support level, which
is like 26600 ETH has kind of reached. 1600 is now 1585
roughly. Um, so yeah, weekday probably
about down about two or 3% and Bitcoin has been outperforming.
There were some, there were some stories there that the Mount
Gox. Repayments they they are going
to actually be at the end of this year or they they could
potentially start at the end of this year.
They were the end date was delayed until next year but they
could begin this year. And I think the, the rumour was
yesterday that the whole thing was going to be delayed till
next year and now it feels as though that may come slightly
sooner, which may be caused people to to feel a little bit
weaker about upcoming supply and some of these things.
But yeah, not not a pretty day across all markets.
What do you? Think.
What do you think? Yeah, I was just gonna say,
like, why sell now? I don't really get it.
Like, especially in Earth, Like, I don't understand the big sale
pressure there. Like, it feels weird.
But on the Fed, it's just like. I think people think that that
they are confused. the Fed is confused like if it's if it's
they're saying it's a soft landing.
If it's a soft landing, they don't need to drop interest
rates again. But inflation is still high.
They're worried about oil, so maybe they need to put up rates
again. I think that was the takeaways
that like. I thought just like the Fed has
no idea what it's doing. And that's like not ideal.
Yeah, I would agree it was a confusing narrative and even the
markets like even though they said they might raising it raise
rates again, the market hasn't really fully believed them.
Because of how confusing it is and and inflation have been
coming down, right? Inflation coming down across the
board. The only real risk here has been
oil, which is creeping back up again, but then raising rates to
fight oil. That seems like a losing battle,
but. Yeah.
I think this whole thing has been a losing battle though.
This whole thing has been supply side inflation or some of it
from COVID, etcetera. COVID shipping prices, all of
this stuff goes into inflation and you don't really temper that
with interest rates. It's a good probably made around
the bed, the meetings today, right?
Because this time, usually it's Tuesday, Wednesday, but this
time around you guys were talking about how it was
actually Wednesday, Thursday, so the meeting.
No, normally Wednesday, Thursday to this week it was.
That was it. That.
Was the press conference yesterday and he was
particularly the actual statement wasn't that hawkish
but the press conference was Goldman have come out and said
they don't think he's gonna raise rates again and obviously
going into an election year he's probably it's it's a more
difficult. Period, often to raise rates
under a lot of pressure to do it particularly because things like
shelter inflation have been coming down so aggressively.
It seems maybe a bit much to do that.
But yeah, markets did not like it particularly tech had been
wobbling a little bit for a few weeks.
Things like Cambodia we spoke about yesterday that kind of
breach below some of its moving averages and and all these
technical sellers started coming in so slightly weaker period.
What I would say is that gold held up pretty well as and the
dollars obviously. Rising even in that scenario.
And so the idea of that's kind of what we're seeing in crypto
as well, the digital gold version Bitcoin is holding up
much better than let's say the digital utility token or digital
stock like token, which is, which is.
So it does feel like Bitcoin outperformance could be a bit of
a medium term trend here if if the markets are or the stock
market remains spooked but people still want to have
inflation hedges. All right, well, I guess we'll
see what goes next. Fed meeting scheduled for
October 31st and November 1st. So it's Halloween.
That doesn't bode well. Stop it, Cali.
The full thing. And it's in.
It's during the fall, so. Pair of Canary labs are you are
that's I mean do you think the generations that does need one
bear especially with two GB perma giga ultra bulls.
So it's I guess it's not that bad a little.
I'm like a pathetic bear. I put a bear thesis out there
and then these two guys should trample all over me.
And then I'm like a reluctant bull.
I love that. That's so funny.
So we'll see if I'm not mistaken.
I know that's not my fault everyone.
FDX you've gone through lunar, you've gone through three AC.
Fucking me, you as in the market I.
I know the whole market has gone through that and now you're
going to sell a stock market up this year.
Like I said, it just, it perplexes me that people think
we're gonna go close to like the FTX loads of the year that I I
think, I mean, maybe I'm going to be wrong here, but I think
the local laws are definitely in full for Bitcoin.
I'll take that. Here we go.
Yeah. 95% full.
Honestly I've got one bullish tweet yesterday which was which
was to do the idea that I thought we could decouple from
macro here just particularly in Bitcoin because so many, so many
short term sellers of like capitulated over the last few
weeks. And I think 80 or 85% of all
Bitcoin now is in long term holders hands at the highest
ever. But one bullish tweet and you
just get tacked. It's like, ohh no, you're an
idiot. We're going like 3040%.
Ohh, like the world's about to end.
I know it's crazy. Yeah, don't bulb.
I mean if if anything happens. Yeah, don't you gotta fly that
flag. I'm gonna like the post right
now. You like the the person on the
front of the miserable like poster with that flag just
flying the flag for the Bitcoin bulls I.
Somebody's gonna make that. He's gonna.
Make someone yeah, someone's gonna make that someone's gonna
do it right. Someone.
Someone's gonna be that person, right.
We try we try a lot It's it's it's tough.
But you know I think the other thing to keep in mind is also
October is gonna have the second deadline for DTS right.
Which obviously we're swimming is gonna be pushed again and so.
This could get much. Remember the government?
the US government shut down in the next week.
There's a lot of talk about it that shut down.
And that would be in the SEC shuts down, so there could be a
technical wait. They need to get like funding to
keep the US government open. At the moment it's it's a it's
like another debt ceiling thing. But and it looks highly, highly
likely that the US government is going to shut down as in like
government functions. You mean the government shut
down like the government shuts down.
There's no more government. A lot of different departments
will shut down. Yeah.
OK and. That you need to have
Republicans. The House Republicans and
Democrats to come to some sort of agreement over it, and it
looks unlikely that they will. But this is also a split within
inside the Republican Party and if that happens, the SEC is shut
down. So they will.
They will come up with some excuse while they can push back
the the review. If they're shut down, though you
could argue the glass half full is that they can't fuck with us
the same way they're going to. We knew they were going to push
it, yes, but if they're shut down they can't really do the
negative. Some people like they might get
approved next month. Some people thought they might
get approved. I yeah, I mean we we saw this
chart. I was like 75% in the year and
95% of next year and and the next and the next and the next
one is after this wave is going to be the third deadline which
is there's one of them on 1111 but the rest of them are all
January 15th, 14/15/17 and then we finally lines March.
So even we zoom out, March is not that far.
Like you're going to blink and you'll be March classic.
Like as soon I feel like as soon as like like it's always like
that though. Times flies anyways, right?
It's always like that. And then you gonna play again
and eat this 5K. There you go.
And then again. You see this?
I got 170 K. My girl.
Yeah, that's that's my girl,
right. She That's either big one.
If you asked my dog right at home, calculate my bag if it was
170 K just so I can dream for a second.
OK, so I have two E total in my Ledger.
Like it's going to go to 170 million, $170 trillion market
cap? No, no Metaverse.
This is the Metaverse. And then they backed it out.
That's what we think, she says. Some wild shit.
But you know what? That's my girl.
Like I'll. I'll support that.
So yeah. I mean, it's in these in
technological pursuits, you gotta have dreamers, in the
words of Kanye West. Aim for the stars, so if you
fall, you land on a cloud. Nice.
You know, lots of Kanye West anymore.
He's a big guy. Yeah, I'll play with you.
But anyways, second topic of the day, I mean is that are you guys
good with the market roundup whatnot?
Like I think, I think that's. Yeah, everyone feels a bit crazy
today. That's basically it, I think.
I think. I think I bought some.
As you know, we saw that in your contact chat.
I I think they went out performed these.
So if you're only, which I'm sure everyone does, it could be
a little bit tougher. I think over the next few weeks
that makes sense, it looks much weaker.
But anyways, topic topic #2. It's actually four more NFT
headlines. You know, 95% of NFT's
apparently are almost at 0. So the headline just goes
straight to the point. It says remember what NFT's sold
for millions of dollars. 95% of the digital collectibles are now
probably worthless. Of course, a few months ago when
I would see this kind of headlines, I'd be like, well,
not really. They're not accurate.
But then I open DJ's finance. I realise they're not that wrong
because the 5% that we're gonna name ohh but the fence is 100K
but the points are still 83 four K, the apes still 40 + K But
it's true that the rest of the market is not is not performing
that well. Just ironic when you compare
articles from then and now. Like remember that someone made
a tweet about the Rolling Stone article from Dan saying the
party PR club is like some massive thing is gonna crush it
and now like NFT's are absolutely dead.
So I think it's ironic to see to see the articles, but hey, this
is how Web 2 media makes their money, OK?
It's by taking the, you know, following the trend and also
very often having headlines that make people get angry so we can
talk about it. This is a cool picture at Times
Square though. So anyways, they're saying most
NFT may now be worthless Less than two years after a bull run
in the digital collectibles. A new study indicated that 95%
of over 73,000 NFT collection had a market cap of 0 out of the
top collections. The most common prices for an
NFT is now 5 to $10. My question to both of you
beyond you know what your thoughts are is shouldn't most
NFT in the 1st place be priced just as 5 to $10 based on what
they actually provide? Like do we need more?
I think something we talked about on stage that consensus
remember OV yourself, myself and were like look like RFC aren't
that expensive and they get you access to XYZ in new year.
Should they be even $30,000 floor right.
So it's just you know my question to you guys is, are
they is this is the market down bad or is the market actually
starting to finally be priced according to what it should be
priced? I think it's a bit of both.
I think part of it is that, yeah, NFT's by nature we've all
been saying like it's the technology will survive.
We're going to see hundreds like 1,000,000 billions of NFTS which
are just worth nothing because they are just.
To perform a function rather than being some sort of
collective or and I think you'll see lots and lots of that.
And I also think yeah obviously stuff came down.
I think it's it's too easy. Just like dismiss this is like
this is just a fight article though if you go to the end you
can see the market cap of NFTS since the start of the year.
I think we started the year about 6 1/2 billion.
By Q1 when Blur was going on, I think we peaked around nearly 10
billion. So we're actually up in Q1.
I think most of that was the rise in ETH over that period and
now even with ETH up 30% or 35% year today and if these are at 4
1/2 billion, so. We are down about 50% just in
NFT's and that's and then ETH that's up actually have that
period. So it's it's been a really,
really horrific year. I think for value being created
in the NFT space you can't just like dodge that but I don't
think it's maybe surprising, right Like yeah 95% of staff was
meant to go to zero. I think everyone kind of agreed
on that. Even during the bull runs, you
would just hoping that yours was the thing that didn't.
Yeah, I remember Gary Vee saying that every other day.
You know I don't want. Disagreeing with him.
He always says that I was so right as like no I don't think
people were actually thought everything was gonna be worth
hundreds and like millions and millions and millions.
But I do think people thought was that they hoped their thing
would be the thing that survived.
You know everyone knew they were they were taking these bets.
I think. That you know, stuff.
Collectibles aren't easy just to create out of thin air.
You know so. Yeah.
Yeah, go on, Kelly would. You.
Yeah. The other thing is I which is
interesting is that this that stat was actually true even in
the bull market, in that like so many people created shitty,
fake, scammy, pointless, whatever.
The collections on Open City, which remained unsold and were
worthless even in the peak of the bull market, something like
80 to 85% of NFT's had never sold because people minted.
People created them and tried to sell them and they didn't work.
So it's not. It's not that much of A.
Of a move from the previous state, even like the bull
market, but I think even if you isolate the top collections as
Mando said, you're still been a tough year for value creation.
The headlines obviously like click mate, top selections are
are down a lot but and I agree, I agree with you guys in that
like this is just the evolution of the market and people took
that risk and hope that their thing would be the thing that
would survive it. Some did, some didn't and now
we're kind of entering that phase where it's more about like
sustainable value creation rather than I buy this at 100
grand, hopefully it's going to 200 grand, we'll never know
because Disney are going to make a cartoon and or whatever.
So yeah, it's pretty hard to argue with the the sentiment,
but it's like a bit misleading and it's like use of stats I
think. But it's definitely been tough.
I mean they love using the same examples over and over again
like they love using Steph Curry, they love using Snoop
Dog. But this is actually, you know
what, this Gap Gamble. So they basically that article.
So the articles are always like click bait, but when you click
on the article and what they're sourcing, it's actually this,
this debt Gamble report. That's what I've been sharing on
the screen now. Yeah, you can.
Yeah, you can see it. And actually it talks about the
current state of the NFT market and so they really went deep
into that. So it's like the statistics
effect. So this is the thing it's like.
The the statistic effectively means that 95% of people holding
NFT collections are currently holding on to worthless
investments. Having looked into the those
figures, we would estimate the 95% to include over 23 million
people who invest whose investments are now worthless.
And they talk about ownership, percentage of currency of
current NFT collections, so number of partially and fully
owned NFT's. So you have a bunch of those and
then you have another one on more than 1600 top NFT's listed
are dead. Number of NFT split floor price.
So it's a look, I think it's a step that makes a lot of sense
and I think we all usually tend to agree when you talk about how
we need to, you know, the broader market to recover before
we see any sort of a comeback like unless you're in a Raging
Bull like. I don't see it.
All this crazy. It is crazy.
Like every month or every couple of weeks I'll go through and
I'll just like clean up the decisions that we always add new
projects, but often, like get rid, we'll get rid of old
projects, OK? And it's crazy how many projects
I'm just getting rid of all the time, just like projects you've
heard of. Just like they're now worth
nought point nought 1 or nought point nought 2.
And they're just not relevant anymore like no ones, no ones
looking at them. And they're amount of money.
Those raised it Always. Kind of.
Slightly infuriates me. Like if you do it by.
Yeah, it's it's just it is it is nuts.
I get it. I I definitely feel.
The same many of them. But like, it's not your name and
shaming thing. It's like a market thing.
Like, it's just crazy crazy. How many, how many projects?
I'm just like clearing out that we all remember from the bull
market. Yeah, I mean, it's absolutely
crazy. But look, I I don't think, you
know, this was the first NFT bull, right?
I think I was about to say the exact same thing like this
happened when railroads were invented.
This happened when any technology, new technology is
invented. Like it's a combination of
available capital and over enthusiasm about the future
impact of the of a certain technology.
Stuff always goes crazy and then and then it goes through like a
kind of disillusionment slash bottom of the of the valley
phase and then it comes back to be something useful and I think
we will see that. Yeah, but they don't.
See also when you do these NFT stats, is that all the NFM
efforts now treating friend tax so you could argue?
Out of the NFT people their money is being used on frantic.
How much of them, those millions of volume is attributed to NFT
people or shitcoins and stuff. So obviously like I haven't seen
my personal behaviour shifted towards me and cornered corners
for a very long time at some point and then towards some
friend tech. And obviously I'm not buying NFT
or if I'm buying NFTS I'm looking maybe one day to add
another punk or like to add some stuff.
But short term it's like, I'm like, what can I do with that
10/20/30 Fifty 100 E? Versus like holding the earth
versus trying to you know, versus trying to you know go
into other investments and whatnot.
So it's normal. I don't think it's, I think it's
pretty much expected and there's definitely going to be a lot
more pain or such like crab or like you know sort of like that
impatience feeling in the NFT market.
You know it's going to be frustrating when for a lot of
people in that were deeper NFT's when Bitcoin and crypto in
general starts rallying. Perhaps Q1 of 2024.
Maybe I'm wrong or maybe 2. Between then you see that not
all your NFT's are rallying. It's gonna we're gonna get to
that too. I don't, I think NFT pain.
What do you think just NFT market we're still in for a
little bit in terms of like? We need crypto reverse.
We really need to be changed. But Speaking of friends, we
should go to the next topic, which is what's been going on in
contact. And as you said, everything's
down like 50% it is. It is part of that 33 narrative
coming out, but then there was quite a lot of thought of of
overnight there was. There was one tweet or whatever
you post by OX not gonna make it, pointing out the security
flaws of French tech. There was a recent hack on
balance on their DNS hack on their front end and he's
basically saying if that was to happen to French, it could be
really bad. Basically take control of your
accounts and remember they you set up your they set up their
own wallet. So it's kind of similar to like
a discord bot or a telegram bot where they have the private
keys. So it can be.
Just be aware of that, like maybe you don't have your life
savings on your friend's account, so you know what I
mean. Yeah well should we be taking
some off like cuz I made a considerable my money on the
fees right? Like should you be like out of
precautions? Unless you're gonna do 3/3.
Well, you do through the entirety of your feet.
You spent 173 three. I think I spent the majority of
it at the time, yeah, obviously I didn't.
I I've, I've got, I've got fees now, but the.
Yeah I think just be aware of it like it's like a it's like a
uniball or banana bar or I mean we just saw one that the non bot
got hacked right. Like these things are their own
private keys. So you have to be careful about
putting lots and lots of because people will actively be trying
to come for it. That was one.
Second thing is there are a number of different sectors
coming out. I think Hunter Hunter Solar, he
put out a good tweet today, maybe should bring up him.
Him. OK, let me see.
I think he did a good one of all the different competitors which
are coming out. Friend tech, here we go.
Yeah, there we go. There's one on Bitcoin.
When I was using, there's one Solana.
Yeah. Yeah, it's crazy.
They're all classes and people are saying particularly this
this third one, this post tech on Arbitrium which is mixture
between like Twitter and friend tech.
Point by post on their platform, tagging them on X, invite some
friends trading or holding shares.
And then you get paid a proportion of like 100K per per
week. But what you're seeing here is,
is a tax on the model. We've seen a couple of these
already fail before. My view is it's a little bit
early to vampire attack. I think people recognise that
it's beneficial for everyone to be kind of on the same platform.
So it's almost like doing a threads, you know, like.
Unless it gets critical mass of people going, no one really
wants to go. But what I do think is that this
could force the hand of friendship to reduce the fees.
Like suddenly if it becomes a more competitive landscape and
you produce a pretty similar sort of vampire to friend tech,
I think these this 10% fees are now is going to be it's going to
be challenged. So it will be interesting to see
if they keep that up in. I think the one thing they have
going for them is that like the private chats are good in terms
of it's way less spammable than like a feed like a lot of the
other ones are more feed based which just like.
You don't want that. Yeah, I totally agree.
But yeah, if it kind of reduces fees, then I think that's great
for users as we presented what. Users or traders?
That's so paying less if anybody paying.
Less over here all over again. Blur came in open sea.
Lord Fees NFT went to 0. I think they need to have
royalties. The only reason people are
royalty platforms? Such a perfect example of why
royalties were the fucking the the technological innovation
here is that people are incentive driven.
Like if you take away the incentive structure, use the
platform, the actual content, the value bit of it, and you
just turn it into another altcoin trading house, then
there's no real value of the product.
So. Or at least has no incentive to
keep that value of the product. And that's why I think NFT's run
in a tough spot. But yeah, I think, I think we
need to keep the creativity. Or at least you're gonna reduce
it proportionally, make it less on the courtesy.
Yeah, because if if you remove the creator fee, then creators
obviously have less of an incentive to like being on there
on both ways, on the buy on the South side.
And then maybe, let's be honest, like a lot of it's driven by
monetary value, right? A lot of people spend time on
there, they're making bank. Like I think a lot of people
wouldn't be on it on this because if you want to not make
money, you might as well be on Twitter or X.
So it's going to be interesting. I do agree with you though,
Kelly. Like if you're going to, if you
if, if you're going to be, if you're gonna be like copy
pasting Twitter and just creating a feed, then there's
absolutely no point, no price. Whole thing, I don't get it on
Bitcoin question like strength. I mean the Bitcoin one, I also
agree with you man, looks like, I mean aren't like fees even
more important and expensive on on Bitcoin?
So that's that I could see a Solano clone, Arbitrium clone
sort of like pick up, you know because it's thermal tools and
it's kind of like that's how prediction based.
Yeah, he's allowed. They're only they're only
briefly high during that ordinance period.
But. Has has largely decreased so bit
Bitcoin fees are are much lower. Yeah, I mean we'll see.
The thing is, like I'm I, I would be wary if you're in the
audience, like putting like if they if your competitor comes
with a coin right away, stay away.
Because that means that they're using their token in order to
drive mass value to it right away to lure you into it and
therefore the whole platforms success will depend on that
token so it's going to go to 0 eventually.
I think the dangling the carrot thing is what's worked very
early from France which by the way tomorrow's like you know
points day again and everything so there's that So you know I I
I got remember it was like what the shares thing whatever a few
weeks ago they had a shit coin it was time for I was like ohh
French competitor narrative people were fighting frantic let
me just buy something. To see if it works.
No, it wasn't zero within six hours or 12 hours.
I don't even know. But I I definitely lost.
I I definitely was on my money within that day and whatever,
right? But it it I would, I would be be
wary of him. Obviously be curious.
But they have to be wary of competitors because everybody
thinks they can come and redo it and like it doesn't mean they're
going to make it happen. You know what's funny?
Speaking of that, like I was thinking so deeply last night
and we can maybe maybe we can riff about it another time.
But I saw like all these the the chatter about PFP's and their
floors and whatnot. It made me kind of like chuckle
because I was like everybody thought they could build the
board of your club and looking back at it, absolutely nobody.
Copied the boarding Yacht Club like a lot of people, even in
chats, were like, yo, Gordon guy and Gordon like get those guys,
they I could build a board of young club.
I could build a PFP company at the end of the day.
There's nothing. Aside from Luca, that's killing
it. And the ones that we talked
about often, but there's much more substance.
All the PFP collections that I thought they were gonna be the
next 40 PR club don't have or even close and we'll never
become that. So anyways, my take on the
frantic stuff, I don't know if you guys, anything to add before
I go on to Dally because that's you.
You know your Dolly stuff, man. What's happening on the I front?
Yes, Dolly 3 now. Three years out and this is
remember everyone was went nuts for Darling Two.
We've also had stable diffusion which had another upgrade
recently. But daily 3 is going to be a
mixture between. Basically this is obviously by
Open AI. This is the company that's also
behind. ChatGPT, and it's basically
going to give you a. Allow you to do kind of chat.
GPT style prompts for image creation.
So I haven't. I've yet to use it, but this
this feels like it could be a very big upgrade if they are
allowing people to. I think the the big upgrade for
for our ChatGPT is its ability to understand perhaps the
concept that you're trying to get across far better than other
alms have before like you can give it a prompt and it really
does kind of get to the heart of what you're trying to say.
And I think that's the that's maybe a big step forward for for
Dolly and for general in general.
So I think it's going to be, it's going to be interesting to
see that this, this obviously. By Open AI and stable diffusion
seemed to be the top two. Stable diffusion interestingly
had been. I think most people were using
that more than Daley recently just because the quality had
been better. When you speak to AI articles, I
think a lot of them were using stable diffusion that maybe this
now means people shift back towards Dalai.
Yeah, interesting. It's true.
Most people around us at some point, it was Daley was the big
thing. I remember everyone was like
trying to use Dally or trying to get into the to the.
It was like gated at first, right.
It'll get accepted and everything.
And then they went to stable division, but it says you open
the eyes. Dolly Three is an art generator.
Power by ChatGPT Open Air has launched Dolly Three which uses
Chachi PT to take the pain out of prompting.
Now you can modify artwork by simply talking to the chat bot.
Have you guys create any art using using Dolly at all?
I have never. Actually try it.
I used Mid Journey which is like a Discord based similar thing.
So I think this is better than it's like web-based and it's
functional with TPT it's much easier to use, et cetera, et
cetera. It's cool, it's novel, but for
like I don't a lot of these. I struggle to find like very
clear use cases. But maybe that's because I'm not
in kind of art or graphic design or generating images or
whatever. It's like.
And I think you saw this with Open AI and that the interests
massively spiked. And since that initial spike,
it's basically tailed off. Like everyone used it in that
first couple of weeks to create a poem in the style of like
Snoop Dogg mixed with Charles Dickens.
And like, it was really fun. And then you sent it to your mum
and dad and all this stuff. And then since then, I've not
really like. I've not used it as much, but
also total usage and total interest and amount.
It's been googled and every metric you could think of is
basically been dwindling lower. Kind of like a shitcoin chart,
but something different. He's actually right.
Maybe this might be the same, I don't know, but I guess it's
fun. I guess it's fun.
I like that. I I'd never really say I tried
it 2-3 times. I was like, OK, that's cool, but
I don't know, this is like, for now, Google.
Still do a lot recently. Increasingly people are using
the tech, but they're using it in their own applications.
So like you're, you're going to start using this sort of these
sort of models without realising you're using it, rather than
just going on to their website. It's like, right?
It's going to be integrated into this app or this?
App. Like Google did.
That. Yeah.
So we did that with the creative.
So though usage has gone down by those metrics, other metrics say
it's gone up massively because it's now been put in a bunch of
different applications. That may mean that you just use
it, but you're using it seamlessly.
Like if you Google that makes sense we.
Often gives you give you. Mine has like a chat to PT
thing, and whenever I'm on when I'm using Google Docs now, it
does stuff like that. You're just using this sort of
stuff now. You didn't realise you were
using it rather than having to log on to the chat.
The JPT website to use it, I only use archives.
It's it's probably gonna be like.
I don't use either, actually not used.
I intend that and I had a bad experience.
Ohh, so you don't use Google because you had a bad
experience? No, I just.
And it's an evil company. But they should definitely.
Maybe. Well, hold.
Hold on, hold on, hold on. Well, I I know we gotta go to
unveil art and. What do they do to you?
What? What did I don't think people
understand the like how the Google model works in terms of
monetizing people's like attention and eyeballs and
search results and stuff like that fully.
Hmm. But if they want to sponsor the
show and right their wrongs, then that's fine.
Ohh yeah, let's go. I love that.
That's that was so good.
Yes, Google or Alphabet if you want to sponsor the show.
Holly would like you again. Alright so so so do something
and and and and figure it out on that front.
But yeah, look we'll see these vestments of of AI and whatnot.
I just. I just love seeing default cows.
Opinions are his own and not of the shows, no.
We can opinions on. A ticket that goes below it
every single time we speaks. Ohh, I'm good now look, my bio
says opinions are my own. Now you see it, opinions are my
own. My my bio says this.
Yeah, better versus just created Metaverse.
Just reply Google, please sponsor.
When we asked GPT or barred how to get a sponsorship from Google
for the morning show. You know, hey Bart, tell me how
do I get sponsored by Google for the morning show.
And. And we'll see.
We'll see. We'll see what happens on that
front. So maybe hey, you know, shoot
your shot, shoot your shot anyways.
Well, exactly. We'll see what happens.
Anyways, we have some guests today for for the end of this
show. Some friends of ours unveil
their art and of course, I mean, come on, Dave Krugman.
Dave, good morning. How are you doing today?
Paperwork. Good morning, man.
How you doing? Yo-yo yo-yo, what's up y'all?
Yeah, not too bad. I'm very good.
Thanks for for this opportunity and yeah, let me let me just
take it from here and explain a little bit why we got on your
show and and things of all thank you for for organising this and
and doing what you do. So Unveil is really a platform
that seeks to democratise the art photography industry and
with that I mean fine art. So basically what we see in the
art industry, which is quite an established world.
First of all, most artists really can't make a living
selling their work. So this was our first problem.
How do we solve this and how do we get give the the talent that
does need to have some sort of voice and some sort of
foundation to get seen. How do we give them that?
The second thing is we believe there's a new generation of
collectors that are not going to galleries on a monthly basis,
right? They like to procure things
online. So the art industry is.
Ancient It's still in its mediaeval times, but we believe
that through a platform called Anvil we can democratise this
world. So we are actually now at in
Amsterdam in one of the biggest fares for photography where
inaugurating a drop with famous art photographers but also help
talented artist and and sort of have them piggyback along for
the ride. I love that.
Speaking of talented artists, I mean, you have very talented
artists. I was just with Dave in the in
Seoul. Dave Krugman, how are you doing
first? Question then.
Good. I'm actually about to take off
on my second connecting flight from Martha.
So very excited. I just.
I just walked. Past D.
No way. A lot of us are on this plane,
so sorry for there's ambient noise here.
You. But you.
Can you hear me? Yeah, we can.
We just, we we we we're getting the full, you know, rundown of
how the security measures on the aeroplane right now.
Make sure you evacuate. So there's two doors on the the.
I don't know what you're flying point and grayer, but there's
two doors on the side. Please follow the lights down
the alleyway. And please do not take your
personal belongings with you. I think I know by heart at this
stage. I think in there by heart.
You know I love that you know this probably so many NFT M
efforts on this man's flight right now.
I mean this is this is like this is like a it's a it's everyone's
out there it's this this next three days so excited to hear
what happens and comes out of Marfa.
Seems like he bumped into these everyone's flying through Paso
right and they have to drive for a few hours.
No locks. He's on his way.
He's probably driving right now from Austin, TX, getting more
form already. But let me go back to you unveil
and and maybe talk about like you know, you know, obviously
just presented your platform to us and you mostly focus on
photography and I know for a fact that you know you focus on
also. Digital and physical aspect with
the prints and whatnot. So I kind of wanted to know like
you know, what's what's like, what's it, what's new, right?
Like what? What's new, what's exciting, you
know, with the, you know with with the, with the proposition
that you guys have for like the photography industry in general.
Yeah, thanks. That's I think so there's,
there's two things. First of all, what we see is
obviously NFT's and blockchain technology that they can deliver
up on a promise for democratisation, providing
provenance for for artists and for collectors.
But we think we shouldn't overshoot the whole NFT
proposition and technology in itself.
We always combine well we combine it with a physical
print, so the physical print could send can get sent to your
doorstep anywhere across the world.
And if you wish and choose to you can activate that artwork,
see it like sort of a Trojan horse where people get on
boarded onto the blockchain without them realising that
they're using it. And I think this is sort of the
key to unlock the masses is have them use technology, but make
them incentivized to use it and and buy the product and that
needs to be front and centre. OK.
I love that and I totally agree with that.
It looks like you've got a good lineup.
What who else are you working with?
I mean, you've got Dave, I don't know if it's public yet or
whatnot, but I know you got Dave, which is obviously loved
these work. Yeah.
But is there any other photographers that you've got
that managed to to to bring on to that?
Yeah, definitely. So we're working with world
class photographers. We are obviously represented by
Dave and his team. We're supporting us.
We have the director of Sotheby's who for photography
and Emilia who's backing us and we work with really the
established people in the fine art world.
So if you go to unveilbaradditions.com, I think
it's shared. You'll see some of the the names
that we work with for this drop. The idea is to do a drop every
month and then have a different theme for each drop, which is
limited by time. So some of the artists that we
represent now are one of them. A Boy Scout founder Mola, she's,
she actually published the best, the best photography book in the
world I think in 2016. So a very recognised name.
I heard you guys talk about AI before.
There's another guy who is almost Aldorf, he works in
combines his photography skills with interpretations of AI.
So he has in this edition, he has like beautiful flowers that
are reinterpreted by an eye. Two which are then flowers then
turned into the flower actually becomes sort of attire.
You can see those or actually white duct tape.
But everything is interpreted in a way which which represents the
theme and we ship across the world to Farooq.
So, yeah, that's that's sort of what we do.
This is really cool. I've bought a bunch of
photography in the past and like, you know, like drafting,
but obviously you have a few trout.
Trout. They're the drip.
Sorry. Drips from day.
Also have the car one you know I love I love my photography
collection when it comes to NFT so I like this I mean I'm going
through YouTube screen if you're if you're on YouTube you know
I'm going through the website right now and you can see like
all the really cool like the branding is great obviously like
you've seen like you have some big partners and and I I like
that you just focus on a niche like I I really think printed
photography is dope. I I think more people want to
buy art that's tied to physical here, so I I personally like to
do that myself at all times. But anyways can want to ask you
like how does the blockchain element?
Work with unveil right? Because it's mostly focused on
physical and like and try to art.
So how how do you guys, you know implement like what three tech
into everything you're doing. Yeah so there's there's three
products that we have and it shouldn't be like the whole
proposition centres around the story of the artist.
So how can we sort of capture what the artist does, make him
tell his story through beautiful visuals and and sort of have a
sort of museum experience but also have RP accessible.
So we we have art up which is 3 products, the digital digital
edition Arts, which is an NFT's like everyone in the in the in
this space and will probably know represents digital work.
We have limited edition additional works which is what
you would see in a gallery, but then as opposed to going to a
gallery and procure it, you can go to our marketplace.
So these are more limited higher end works which are more scarce
at a higher price point. And then we've got basically our
main proposition which our line time limited prints which are an
accessible price point because we want to have a new generation
of buyers be able to to buy beautiful art they've haven't
done before. Then the blockchain element sits
in the fact that when you buy your artwork, you get a QR code
attached on the work, you get your phone, you then scan the
work and then basically you can activate it at work, you get
collective privileges etcetera. But you also make the provenance
immutable. So the moment you buy it, you
get a beautiful box sent to your doorstep, but that allows you to
also then offer it back on our marketplace.
So you can have a whole secondary sales market on our
marketplace for, for instance, if an artist is at the beginning
of their career, you buy for, I don't know, $500.00, but then
they shoot off and become famous.
People can actually buy some of the initial works that you
bought because there's now a central repository which we we
refer to as the blockchain for work, which is not.
You cannot tamper with that. So that's how it works.
Start with unveil. You guys have like a whole
course like how to create collections Minton FT get
started as an artist. Then for collectors like what
happens if I want to sell my print in the future who prints
the print think this is cool. Like I I like these sort of
platforms that sort of you know educate the people.
And so my last question for you today, you know it's very just
like more more direct like you know how can our listeners
participate. Like if someone is interested in
this right now. I see some photographers, I see
a lot of artists that listen to us in the morning shot to all
the artists listen. She has a bunch of y'all.
But how do how does you know? How can listeners?
Participate in unveiled dot art. Yeah.
Well, First off, shout out to to everyone listening to this.
And I'm by the way, this is not a way to promote the platform.
It's really about the artist. So we're just a facilitator here
and we want to support every artist to make a living selling
their work. That's first and foremost.
If you want to participate, you can support these artists that
we represent. We actually have a very special
coupon. We're for rock radio listeners.
So if you use Rock Photography 48 you actually get 48 hours of
discount for 1010% discount on any of the the total order value
of the work that you buy. So you go to
unveilbareditions.com or just go to unveil dot art and click on
the 1st chapter, the first chapters stillness and then use
the coupon at the end if you if you find something beautiful and
we'll ship it to you. Oh, OK.
So Rug Radio 48 Rug Rug. Let me just check this here.
Photographer Sorry. Photography.
Yeah. Photography 48, All capital
letters. Rug Photography, RUG PH0T 0GR
PHY Ohh 4848 for 10% discount. 40 hours on so check them out.
Good luck to Dave Krugman. Martha Titus, thank you so much
for coming in today. Thanks for thanks for your time.
Appreciated. I appreciate you guys.
Hell yeah. I love.
I love photography. I got a whole bunch of that
that's you know when you when you think of NFT they're gonna
they're gonna probably do well in in the future.
I'm pretty confident with some of my photography collection.
I'm not gonna lie but I a whole lot of people have like all this
fire Jen art collection actually collected some cool photography
over the last bull so you know like drift like actually Dave
stuff things like that. I don't know you know we'll see
we'll see how that goes. But anyways boys I think that
wraps it for today's top five. One more tomorrow.
Big Friday, I hope you know.
That mando's right when he says that he believes we've touched
our local bottoms. You know, I'm definitely
positioned accordingly. And as usual, just a reminder,
this show is powered by cracking NFT.
If you go to cracking dock, no rugby, sorry.
Yeah, this way around cracking.com kraken.com/rock
radio you will be able to check out what their platforms are
about and what they're up to, which is actually really, really
close to. Shut the Kraken team will be
with them I think in Austin at the end of next month for the
F1, which when they're debuting the, you know the.
The NFT's on the back of the on the rear wing contest so should
be a lot of fun. Alright, boys.
So were you guys planning for the rest of the day Reviving.
Crushing it. That's the only way to be.
Mine is muted. Yeah, the window looking out
who, sadly. Beautiful.
Have postage for me guys. I've been having small Swiss
jumping to stop yo the chocolate here is too good.
I was telling Callie before the show was like Oh my But dude,
even the randomised chocolate you get a random corner store is
so bomb. Yeah, I know.
But you know I don't have a gym here.
So it's been it's been tough. I don't wanna you know, get get
too crazy over here especially before the wreck show.
You know, I gotta, I gotta, you know, I gotta look good for
that, right? Anyways, but.
Anyway. Pardon.
That's good for you. Yeah, it makes you happy.
Exactly. And if you're happy, you won't
gain weight. Exactly right.
So that that that's that's how it is.
But anyways it was that was a good one.
So that wraps up another episode Gemma 3 on rock radio where he
saw tomorrow morning 10:30 AM Eastern Standard Time, 7:30 PM
Pacific Standard Time for another episode of Gemma 3.
Ohh radio and let's go.