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      5 Things to Do in a Bear Market | Project: Lil Nouns

      Theme: 5 Things to do in a Bear Market

      1. Long view and relax
      2. Don’t trust, triangulate (Milk road was pumping Tera just a month ago and I love them)
      3. Get ready to bid, not buy
      4. Watch the teams that stick with it.
      5. Winners that survive win big,  Pine cones are triggered by fire

       

       

      Transcript:

      [00:00:00] Today on all about affordable NFTs, I can confidently say there are many affordable NFTs out there, Marceau. And maybe before, because today we're talking about the five things you should do, could do, might do in a bear market in crypto and NFTs. How's it going, Andrew?

      [00:00:22] Oh, man, it's rough. I mean, this is, this is one of the ugliest spend a few days of that. I think a lot of people, or maybe even anyone has seen in crypto, it's been really ugly out there in NFTs and in the big, bigger crypto world in general we've seen prices of everything takes significant heads, but some people have been wiped out of large amounts of their entire savings in a very short amount of time.

      [00:00:48] So it's, you know, it's rough to see. Yeah, it's, it's tough to, to be, to see this right now. And how quickly does this come about?

      [00:00:56] Yeah, so jumping right into it. Obviously you are referring to the Luna foundation and the

      [00:01:03] Luna and Tara. Yeah, us Tara. It was a stable coin on the Luna, which they've just say alt layer one. And they had a, the, what was supposed to be a stable coin. It was an algorithmic scale, stable coin that was balanced with the Luna token. So it was the, the us Tara token was supposed to be a dollar at all times.

      [00:01:27] And then they would print more or burn or the more, the. Kara Toca we get, or the Luna token would get bought up. But that's started. That's not, I don't know. It was a question for a long time, how stable that really was, because if the, if it could just print more, at some point you just need people to want that token.

      [00:01:44] And someone seems like, I mean, there were a lot of people that were warning against this and someone decided to act on this. It seems like, and borrowed about a billion dollars and started selling into this to start triggering this loss. And once it started losing its peg, it's sort of. I started a whole I dunno, spiral here and everybody started doing the same thing and it's been you know, I quickly lost over 40% is value and then there were people fighting back, but it has been just heading down quickly and continues to lose you know, more and more each day.

      [00:02:17] And as they print more Luna, I think there is over 20 X. The amount of Luna was printed in a single within 24 hours. So the supply of that is just going. Insane. So, and there's not much value there. So they did actually stop the blockchain entirely. I believe they have started it again, although I don't know what the current status is.

      [00:02:39] It basically seems like there's 50 built up about $50 billion that has been wiped out from the crypto markets.

      [00:02:46] yeah, that's the TLDR, you know, if you're, if you're in there and I think this is a warning to anyone, if you don't understand the project and you have to rely on in code re trust, there is a reckoning and, you know metallic good run actually. Had that statement of like, I'm not sure if the tail risk has been properly assessed on this, but you know, innovation has to thrive and I think innovation is wonderful, but the problem is when you get it, something that is great on paper, but has never been tested at scale, which then has interdependencies on the entire market because in order to sort of make that margin call, so to say, Know, Luna starts selling off just amazing trenches, billions of dollars worth of Bitcoin.

      [00:03:35] What's more, that has second order effects, which relates to the NFT market. I also believe second order effects of anybody that was leveraging margining at any level. Anything that was terrible, which was a stable point. People thought it was safe and stable. Anybody leveraging. Just got margin called.

      [00:03:53] And so just sort of from a liquidity standpoint, a heck of a lot less in a very small pool in a very short amount of time. And you know, it's tough.

      [00:04:05] I mean, they, you know, unfortunately they were bringing in a lot of new people to the system, to, to crypto. They were, I mean, they've got a, they still have a deal with, I think, the Washington nationals, I believe with maybe the New York Mets, they've done a lot of the stadium advertising. We've seen this in other, from other blockchains.

      [00:04:21] We've certainly seen a lot of mainstream advertising and I, you know, I would look at a lot of those a little differently in light of this. And I'm not just saying in light of this, there's been a lot of talk about Tara for a long time and how they were just sort of printing this money and it wasn't really there.

      [00:04:35] So, you know, it's really unfortunate. You know, it's better did that. It you know, unfortunate, better that it happens now as opposed to when it got even bigger. But at the same time, I think this is really going to mark a, you know, Mark A. Day in crypto or a time in crypto before and after, because there's going to be a lot more regulation coming here.

      [00:04:55] There's been. There's been things like this before, but not nearly to the scale. And, you know, the, the founder of this was, I don't know, maybe, maybe very egotistical and, and really did not take any criticism to this well, and you know, his, I would say that that was even a part of bringing more people into this.

      [00:05:17] Put in the end, it's going to leave a lot of people that with a lot, I mean, they just, there's a lot of them lost everything. There's going to be a lot more regulation coming in and I think rightfully so. And, you know, hopefully that will help in the long run. But in the short term and maybe learn a medium term, you know, this is, this is a significant hit and is, you know, we're, we're saying bear market, and we've said this before, but you know, I think we can look at this as in a different way than just like NFTs are going to slow down.

      [00:05:44] You know, crypto in general is going to have to find a way to overcome some big, big challenges here.

      [00:05:50] I think, is it correct to say that 50 billion being lost and in this sort of way is the largest, it's not a hack. It's just, just a full failure. It's a collapse of, you know, a house of cards, right? If you have. You know, the, the last major institution to do this and did it successfully. It was when the us dollar unpinned from in 1972, the gold standard, right?

      [00:06:14] No longer is gold backed in U S and you're just backed with the fact that no, no, we're here. You gotta be pretty darn big to get away with, Hey, here's money. Go spend it. It's not backed by anything. Like there's just laws of human nature and trust. And I, you know, regulation is common for sure. I think you're right.

      [00:06:33] This is a. This is a moment before and after, and it's, it's going to set back adoption quite a bit. So that will hopefully help us with how we kind of change our perspective. But again, that what you can't afford to lose. I mean, it's in our intro and outro and, you know, say it as much as possible. And I hope that people listening, aren't sort of taking this as like haven't been hit too hard.

      [00:06:58] Yeah. Hopefully not too tied up in this. I mean, unfortunately there's a lot of funds there's. I mean,

      [00:07:02] you have any Tara? Did you,

      [00:07:04] no, I

      [00:07:04] you weren't touching and where are you?

      [00:07:05] ecosystem. And.

      [00:07:07] I stayed away from algorithm, stable coins. Cause it was like, but I have a choice of USB-C, which is back. I'm going to go choose the one that's backed.

      [00:07:15] Yeah. Yeah, I, you know, there's a, there's a few different, there's a few options with stable clients. I would definitely go with ones that are a little more tried and tested. You know, Lindy effect is real. Look at, what's been around, look at what I don't know.

      [00:07:30] isn't promising 20% returns for just holding the stable coin.

      [00:07:34] I mean, that's, that's not realistic over a long period of time anyway. You know, and we see these crazy APRs. And I think in anytime that you're seeing just outrageous APRs and don't understand why. Really take a second look. You know, there's that, that part's going to start to change. We know how much those are.

      [00:07:53] Those types of things with promises of APY and APRs are pro are allowed to be, to be advertised in, you know, in regulated financial markets. So I would expect that the we're going to start seeing big changes there because right now it's really meaningless when you can compare these, when you, when you're trying to look at an APR and there's one that's printed.

      [00:08:12] You know, a thousand X apply every day or something like that. And, you know, expecting that somebody understands that part of it because they've looked at, you know, page 13 of a white paper is, is a little, is, you know, it's not really fair at this point. So I do expect that that will change, you know, I guess moving on from this, we do want to say, you know, there is the market is, is.

      [00:08:32] And so what do we do now? Because there are things, I mean, everything's on sale, but you gotta start thinking that not everything's going to come out of this. So we want to start thinking about that a little bit and think about where, where things are going from here and what we need to be looking to do in this type of market.

      [00:08:50] Yeah. You know, I think we have other pieces of news here just to go through them, just to Sam, because you know, Coinbase posted in it loss of 430 million, we

      [00:09:00] Here we go.

      [00:09:00] doing

      [00:09:01] Couldn't do,

      [00:09:01] have their NFT launch. Like sure we get it.

      [00:09:04] there were news. There was also news that they spent 600 million on to develop that marketplace.

      [00:09:10] no, they did not do

      [00:09:11] Yes, I identity. I don't have the link here, but I have heard this 600 million. I think it was somebody figured this out yet. I'm sure it wasn't a line item in the in their quarterly report, but I think someone probably looked.

      [00:09:24] The reports before, you know, it, previous quarters have noticed where

      [00:09:28] users on it are going to generate enough to make

      [00:09:30] Matt, they could have just given an airdrop to everybody and, and, you know, I mean, and people would've actually come, you know, spend it in this, I dunno, coin, token, Whatever. Oh, man. So there's that.

      [00:09:45] Okay. Yeah. There's that? Stocks at all time lows, no idea.

      [00:09:49] As they lose 430 million and blow another 600 million. I

      [00:09:54] yeah, they're dropped I think 60% off of where they were, whatever big numbers

      [00:09:59] from IPO. I

      [00:10:01] from 87 from IPO.

      [00:10:03] Yes,

      [00:10:04] Hmm. Okay.

      [00:10:05] we need regulation to come save us from things like this. I mean, I don't know what this is going to end up like.

      [00:10:11] Yeah. Hey, here's a, here's a slightly more positive one. I threw in here. The soul rare offering fantasy baseball NFT game with MLB. We've seen others try. We've seen others fail, but so rare they're players. They are

      [00:10:27] was excited to see this. And I, I, when I first saw the headline, I confused it as thinking that we had already talked about it, but that was a PGA. So yeah, they they've it was so rare branching out from soccer. I am excited about this. They've definitely been able to get attention and provide and produce a real game.

      [00:10:43] And I, I still think that that is a big opportunity here and they've shown they can do it. One popular sport and hopefully they can do it with MLB and it'll be as clearly trying to get this right in some way.

      [00:10:55] And then another, another news I, you heard. I, I bought the mostly stable dot ether. Finally, I bought it during our episode actually, and I, and I switched. But apparently we were calling out that we saw, we have this like way of talking about the right industry just before it like, kind of takes off.

      [00:11:16] So remember we were talking about how, you know, maybe you should be picking up some ENS domains of things. Well, there was an absolute mania that has taken off with three and four digit ENS domains. What do, I mean, a three digit like number digits domains, because people suddenly realized. So like for example, you know, 7, 7, 7, Four or 5, 5, 5, 5, whatever.

      [00:11:37] It may be. Some any, and all of those numbers have all just become this entire niche collectible, because what people realize is you can make sub domains recently of that email addresses. So you can have your, you know, your moon bird dot 5, 5, 5, if that's your moon bird, that Eve and create all of these things.

      [00:11:57] And then there's like the below, you know, 1000 club below 10,000 club that is now forming these separate communities. Entire communities forming around the ENS domains and currently three digit domains. I think they hit around a 15 each floor. So I didn't guess that that's what would happen, but in S

      [00:12:16] Yeah, here. I am stuck with a bunch of names, and they should just buy an up

      [00:12:19] should've bought numbers where like we were, we were in the ballpark.

      [00:12:23] Just not the one the players were going to play in.

      [00:12:25] right. You know, was looking at domain names and domain names, numbers of rarely cut on. I can't think of many, many number domains that have worked out, but oh, well, Should've gone that way.

      [00:12:36] It's just, yeah. Where we were just to the left. We were like, there's something here. Anyway, we'll get it right next time.

      [00:12:43] Well, you've got an affordable project for us this week, and I think that you've talked about this a bit in the discord, actually. So if you were in there, you may have heard about it.

      [00:12:51] Yeah, the LA Phil Alofa in here. Okay. So what we have is little, little nouns, L I L nouns.wtf, because why not? If you're familiar with announced dial and now in project, they are a very impressive, reputable, you know, glasses wearing a Dow that's been around. They make one per day, technically. And the little nouns.

      [00:13:14] So they make one per day and you go out and bid on it. And those are, you know, going for many EAs. This is the little nouns which are going to be minted every 15 minutes in an auction style. They are smaller than the other nouns. They are generated on chain and they're, you know, say they're going to make, you know, one 15 minutes for.

      [00:13:35] So, and, you know, as you can imagine, that's for every hour though, I think there's some delay because of the way the bidding system works. There is an interesting game dynamic here also where the. Which McCall at the the treasury. So the little nouns treasury, and the announced that treasury are technically getting like every 10th and 11th one automatically in there.

      [00:13:55] And then the rest are just literally on the site for mint and availability. Why do I like this? You know, the art is iconic and you know, it's recognizable. And I think, you know, with this type of dynamic and community behind it, that, you know, builds over to. It stands a chance of surviving the absolute conflagration right now, this burning down of everything.

      [00:14:17] What do you see in this project? In.

      [00:14:19] Yeah, I like that. It's connected to nouns. I think that it's, I mean, I think they'll get the idea that maybe it'll just be too many, but when you start thinking about what 10,000 you know, what it takes to get 10,000 sales right away for a collection and actually getting to see these as they come out, I think it actually adds some excitement and interest over time.

      [00:14:36] And we've seen that with the the announced now I do like that it's tied to that. I haven't looked. I haven't looked at the bidding. I know you've been doing some bidding there. I haven't actually gone and done that yet. And I, I like your idea of trying to get In.

      [00:14:49] early both to get one of the early ones and, you know, hopefully maybe get in before everybody knows about this.

      [00:14:55] Cause I have heard some others starting to talk about this. I think maybe Bankless just mentioned this one

      [00:15:01] Oh, no, they just mentioned it.

      [00:15:02] I think they may have. Or I, I know it's about somewhere, so but I'm sure you got it beforehand. I'm sure you wrote it on here. I hope we'll get this out. I don't know. I guess we can't get up before them.

      [00:15:12] We're literally recording it as I just said

      [00:15:15] you know what, join the discord here. It is. Join the discord because I put every crazy idea in there. You put all this like extra alpha that we

      [00:15:23] his a lot. Yeah. He put a lot of crazy ideas in there, but you know, some of them are good. No, kidding. He's great ideas.

      [00:15:30] so here I've been, so I've been after it, since it launched. Cause I won one of the first 100 little nouns and you can't get them on the secondary because everyone who's getting them, understands them and are just, you know, posting it for extreme amounts. So here's the game so far that I understand.

      [00:15:44] And if you see me, don't bet against me. You jerk. Okay. You're given 15 minutes, don't be the first bidder you really want to wait. Cause you're playing with gas. If gas is high, just don't bother. So actually one of the painful things originally was that gas was going through the roof because of Tara and all of the nonsense going on there.

      [00:16:00] So the game I've been playing is that you wait until one minute is left and I'm actually doing this right now because someone, I really want this one, hold on. I'm

      [00:16:09] What are these going for right now, George?

      [00:16:11] Ranging have seen as low as 0.4 and as high as like 1.4. But right now they're hovering. So it's like affordable ish, but you can catch it.

      [00:16:22] You know, if, if it's at the right point, you're waiting for a minute left. And as soon as a big comes in, it resets to one minute left. So you kind of playing this game of like in an auction and they're like, oh, all right. The last bidder is here and we're three, two. Oh. And now there's one minute left. Then one minute, it starts again and you put it up there and you can kind of grow by increments of point, point, whatever, but keep in mind, every time you submit a bid or submit, you're running a little gas, so make it like, you know, last minute and at a bid that you can win.

      [00:16:54] So you don't, for instance, want to just be bidding on each one at a low level and just being outbid each time. Like, that's a great way to just burn a lot of gas points.

      [00:17:02] I think that's somewhat necessary to make sure that the bidding doesn't go on a needlessly long because people could always just, well, I Don't know. Maybe if they're just bidding, you'd always have to honor that, but that's, that's an interesting aspect there. A cool project. I'm definitely going to check this out now.

      [00:17:19] I'm on the site and it's,

      [00:17:20] Don't bet against me. I

      [00:17:22] it was not me. It wasn't me.

      [00:17:24] I know, cause I can see your domain. This, this C8 six, three has got to stop it. You already beat me earlier today. All right, I'll stop. Anyway, cool project. I also want to do a quick shout out to block bounce who brought us floor nfts.io. And I'll just do a quick summary.

      [00:17:43] This is just, you know, Shannon. I was interesting. They have an NFT tracking app. So this is a mobile app for tracking, as you can imagine, the floors of your NFTs and. Basically it's on floor gen three. I would recommend for that gen three, currently sitting at below its mint price of 0.2. So you can, it direct from the site at 0.2, but no, I was taking a look at that 0.18, seven.

      [00:18:05] So it might be worth talking around and taking a look. If you want to like play with the app, you could probably take flip a gen three, just to look at what that app has to offer and then show it back into the market. Just to see if it's something that could have. And so thanks block bounce. I full disclosure don't know any of these and I don't know, Andrew, you don't, I believe either,

      [00:18:27] Either. No.

      [00:18:28] but cooling up.

      [00:18:29] So thank you. Block bounce already.

      [00:18:33] All right. Let's get on to Our theme And I think, I think we do have to look at that. Look at this. We've done. Cause we have talked about bear markets before, and I got talked about this a little bit. I think this is a. Change. And we should talk about it a little bit. That way. This isn't just like a little dip here.

      [00:18:49] I think we, you know, with this a big opportunity, we're going to see a big shuffle here. So I think we need to kind of frame it in that sense and not that eights, just a bit of a dip. I think we're going to see a lot of projects, guy and the survivors here. It's going to be tough to find, but you know, there's a real opportunity to, to, to find some diamonds in the rough in a way here.

      [00:19:11] Yeah. And that's number one long view, long view and relax. Look, if you have derived some amount of joy and dopamine from collecting, being part of a community, you'll understand that this isn't going to go away. It's going to get smaller. It's going to get less expensive. It's going to be harder to pump, dump and create these overnight successes in the same way in the markets.

      [00:19:36] Smarter, right? This is an inoculation in some senses, and that can be painful at times, but the long view that I have and hold is that, you know, this is in many ways, trading attention and culture. And one thing I know about the humans, we really do. Enjoy a collection as an activity and community as an activity as well.

      [00:19:57] So I'd say take the long view on the projects you're looking to do and, and keep. And, but also if you need liquidity, freaking flip it, if it's pumping, you know, take your, take your wins where you want. So that's number one to try to have that long view, especially when you feel you are in a state of panic.

      [00:20:14] Number two. I don't know anything to add on that.

      [00:20:16] No, I think that's good.

      [00:20:18] Yeah. There again.

      [00:20:18] on a Number two. here yet.

      [00:20:19] Number two, this is a big one don't trust, triangulate. And what I mean is don't trust anyone don't trust us. When we say a thing don't trust, you know, a Bloomberg, a Forbes, a crypto.com, a newsletter, a discord someone who's collected don't trust anybody, triangle. Check a few sources, gut check it yourself.

      [00:20:43] And, you know, I will say immediately here, like milk road, which I am a fan of, I read was literally pumping Tara, but a month ago talking about how they had made that massive bed in it. We are so smart. This is an anchor in our portfolio. Look at the brilliance here, like, okay. I love them. I fortunately just don't trust algorithm, driven stable coins because you know, where's the money, but this is just a reminder that you are always going to be handed somebody.

      [00:21:15] Who's selling you an idea and I'd have T a project coin triangulate. It.

      [00:21:20] Yeah, I think a good way to another good way to think about things is think of the opposite. Think of the bear case. If you're very excited about getting into a project, if you're, you know, you are really against it, think about the bull case, you know, think of what somebody would say on the other side and think, you know, can you refute the problems there?

      [00:21:38] Look at, you know, go search in discord, go search in Twitter, you know, find what the, what people are saying that. Detracting from the project and see if there's anything there. You know, there's always going to be somebody saying something negative. Sometimes it's worth listening to sometimes it's not, but it's definitely worth doing the research and seeing what the potential problems are because there were, you know, as we've seen, there's been a lot of talk.

      [00:22:01] I mean, most of the things that we've talked about in NFTs and crypto, there's been talk about this beforehand. It's a matter of, you know, whether you believe it or not, and and are willing to. I don't know which side you end up on. So I think your go do the, go do the work. Don't just trust the headline.

      [00:22:19] Don't just trust the influencer. Don't trust us. Don't trust your friend, you know, go check, go check and do the work, you know, go ahead and take it, but there's, there's plenty of places to go do more research.

      [00:22:29] Number three, get ready to bid, not buy. And what this means is prices are influx and people are in panic, which means when others are fearful, be greedy to coat the buffet. Right. And so by. Moving your stash to web it'll help you actually make bids on things and you can low ball a bit if somebody just needs liquidity because everyone's getting pinched and it's in a project that you like, that can be an excellent way to really, you know, avoid gas, spread out your spread out your money to stretch it a bit farther and get into projects slowly and safely.

      [00:23:11] Rather than following following hype cycles and, and getting into the types of projects that maybe have been on your, your longterm shopping list. And just flip those reservation prices out there.

      [00:23:20] Yeah, I would add. You want to be careful, you know, what you're getting into right now, you know, really look for things that you believe that are going to be here in a year that are going to be here in a long time, make those bids on projects, thinking that you can move up in quality. You know, don't look at things that don't try to catch a falling knife yet.

      [00:23:39] You know, the idea of the prices are falling. Don't don't look. I just pull it a great turnaround. If somebody just discovers this project, it isn't the time for looking at those types of things, make bids on known projects, on things that have a promise that have, you know, that have strong founders that have people that are dedicated to being here that have proven that in some way.

      [00:24:00] And you know, look for those when you're making bids, not just every. In the way that that, that I don't know, maybe, maybe don't look for the price to rebound everywhere. There's a lot that will not be doing that.

      [00:24:12] Yeah, the not catching a falling. If you're not familiar with don't catch a falling knife, look it up and really understand that doctrine. We don't have enough time to, to move through it, but that's an important note about minding the momentum. Watch number four, watch the team. Watch the teams that are going to stick with it because when the projects are abandoned, the community goes to, it's just a function of time.

      [00:24:36] It's not when, but if, what are the teams doing? What is the morale and discord? What is the leader saying? Because you can have these very bombastic, very excitable leaders who are sprinter. Not marathon runners. I'm looking for marathon runners. I'm a runner myself. And that's fine if you beat me for the first mile two miles, 13 miles, because I'm planning for the whole race.

      [00:25:01] You want leaders that are thinking about the whole race and where it's going. I'm not talking about a roadmap talking about sort of the, the conviction and team, and then the mechanics behind it. You know, I look at projects like the song a day Dao, right? This is silly as that thing is like, I know that Jasmine man is going to be creating a song.

      [00:25:18] 'cause it's been happening for 13 years. I know that this project I brought you today. They're going to be creating these silly things algorithmically on the blockchain in a decade, because that's just how this works, unless the code breaks and those things happen. Right. And there's obviously like things that happened, but it's, you know, it's in that system, whether or not it's worth anything is another question.

      [00:25:41] Same thing with song today. Remember triangulate your sources. But Andrew, what are the things that you say are markers of teams that would, that you can tell Steve?

      [00:25:50] Well, I think there's a lot of ways that you can look for clues about how dedicated the team is, you know, start if it, especially if you have. You know, bigger holdings in a collection, I would really start looking at discord, look at, are they paying as much attention? Are they posting as much? Look at their socials?

      [00:26:07] Are they as into this? Because there's going to be a lot of people. I mean, there have been a lot of people that have lost a lot of capital here and there's going to be people that just can't. Can't keep doing it for whatever reason. You know, there's a lot of, a lot of issues here and I would really start looking for clues, especially where you've got bigger holdings in your collections because the people aren't, they aren't engaging as much.

      [00:26:31] If they start showing disinterest, I think. A leading indicator that they're, you know, that they're not quite as engaged in the work, even if they are maybe producing you know, some updates and you see some things. If it's not if you don't see the same enthusiasm, I would say that's a red flag.

      [00:26:48] I guess so far, it's making sure that, you know, is there a team that is still employed, like go on to LinkedIn, take a look. Are there folks that say like, yeah, I work here. I do these things. Are they shipping actual features that you can see, you know, a new product updates and something like that. We built it.

      [00:27:02] It's tough, but we're here to build this thing. This is where we're going. And,

      [00:27:06] I mean, I wouldn't even say maybe even look at, you know, if, depending on what the type of project is, you know, look at how their treasury is. Did they have they manage that well? Were they heavily in ease? Did they, or were they all in ease versus, you know, and they have a team that they need to pay.

      [00:27:21] I mean, that can get hard if, if they do have a team and, you know, suddenly they have half, as much as they thought they did, And, that really changes their runway. So, you know, I think really start looking at these things. you know,

      [00:27:33] a lot of things have gone wrong and it's going to be tough for these teams to keep doing it with, with all of these things changed.

      [00:27:42] Number five winners that survive when big, I want to put this thought in your mind when a pine cone is on the. It's actually a seed. It's got seeds in it. It's got no chance of creating a pine tree though, unless there's a fire, the act of a fire actually activates and triggers this seed to say, Hey, it's time to go.

      [00:28:02] And that's because these pine trees have been around for quite some time. And when there's a fire, all of the other brushes burned up. All of the competitors are burned up. They go away and suddenly these seeds are like, ah, I've got some room here I can spread and grow. And so with that mindset, I think there's.

      [00:28:19] Exciting. Cause I have to find something positive here. Exciting opportunity to say, you know, there, there are opportunities now to see who's going to potentially survive. We saw that in two thousands where Atlanta little stocks like Amazon dropped 90% and then like rose like a freaking Phoenix. There are ones in here right now that are going to make it, but many will.

      [00:28:41] Yeah, it's going to be hard to find them, but they are going to go out there, you know, look at the ones that are working. This it's going to be hard to find these it's. I think you're right though, to just say that they are out there and this is the real test.

      [00:28:57] I'll end this with actually a post that was in our discord from miss 47 dot E this crash, you know, scares everyone. And it feels more like to me that I have a window, a window of people who were around for the board, a mint had like, I am, am I wrong to think that now is actually the time to buy up more than I have that I have both coins and NFTs.

      [00:29:22] And that's the exciting thing, right? Like this. Macro FOMO of like, oh my gosh, I joined when everyone was talking about it, like, here's your chance to test if you were a tourist or a native or you're someone who is going to be sticking around on this. And it's the time to test conviction. And then in the next gen, when this comes back around, it'll be a year or so.

      [00:29:42] Summer who knows it'll come back around a week, but I, I would say is don't make large bets dollar cost over time and don't trust anyone.

      [00:29:53] Yeah, And I think this really does provide opportunity and I think it's good to even think there's people that have been fairly priced out for a long time. And this it's a great perspective to think, you know, can, now we can get into the coins to be able to kind of play these games. So it's I, you know, it wasn't that long ago that the, the, you know, You know, picker's perspective that Eve was at sub 2000 prices.

      [00:30:17] If you, I, as you're thinking about, I mean, what was it maybe 16 months ago or so, I don't know. I am not looking at a chart, but if you start the, about how quickly that get at, you know, got to very expensive levels, priced a lot of people out and, you know, hopefully there is an opportunity for people to come in and there, we know there's a ton of building going on.

      [00:30:37] And, you know, I am still optimistic of what is to come. I know it is a tough time and I think that we've got to look at where the where the opportunities lie out there.

      [00:30:48] Yeah, absolutely. I mean, it's one of those reasons where, you know, you have to look at the underlying coin behind the platform you're on. And if you're, you know, holding we've been wary of Solano actually, because we were like, well, that corn's pretty expensive. Now, if you have a NFT denominated, You have just risk on top of risk.

      [00:31:05] I mean, yeah. Ease is down quite a bit. And I will say that. And it's a good thing to remind you that like in a two year rear view. Yeah. Remember Eve Eve hit, like, I think it was like a hundred bucks at one point for, you know, peak pandemic. So, you know, that's also quite volatile. right. This is a longer one than usual, but I feel like we had a lot to say.

      [00:31:26] Any, any final points for us?

      [00:31:28] That's it.

      [00:31:29] All right. Good luck out there. I'm going to go, try to get in now, if you see, stop bidding, don't bid against me. Seriously. Just wait til I get one.