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      Art of the Steal - How to Create the PERFECT NFT Grift

      Theme: How to run the perfect NFT Grift 

      • Extreme anonymity OR Extreme Celebrity with attention
      • Us vs them
      • 10k or less batch (so you can control high % of assets)
      • Credible NFT whale or influencer
      • Over subscribed WL - must sell out
      • High creator fee, 10% or more
      • Proof of winners, Ponzi round of wash trading on rare items
      • Hyped moment in the future that is exciting and nonspecific
      • Tokens and staking
      • Unrevealed art and then passible art
      • Outside investment news to the company
      • Exclusive social entry
      • Nonredeemable Utility events
      • Second and third round of NFTS 




      • NFT News

      Rough Transcript:

      [00:00:00] Today on all about affordable NFTs, we're just gonna cover hypothetically how, how you'd run the perfect N F T grift. It's like, how would you do it? What are the elements? What would it look like? What would you need? So first off, Andrew, what is, uh, what's going on in your wallet? What's. Oh man. So I playing or I played around Alene.

      [00:01:10] Oh, I think it minted a couple. One in my main wallet of this. Uh, well, I don't know, I should get into the maybe next project, next episode. Um, we've talked, look, there's this cool project from Deca. Deca has been doing some cool stuff. Um, they have one from, um, that's. Matt Cain, cool artist called Etch. I've been playing around with it.

      [00:01:32] You can MIT these. They're like, I dunno, they're very cheap to mit, but they, you can combine them with, um, with NFTs that you already own and then add words to them. Um, deck has done a, done some interesting projects they definitely work with, with impressive artists. And they come back to these projects to eventually close these things.

      [00:01:53] And, um, so I take a look at them. If you're, uh, , you know, I dunno. Maybe I can get into it more another time, but that's something I've been playing with anyway. New in my wallet. . Yeah. Spoiler alert. We may feature it in our next, uh, next episode a bit more. Uh, Daven and Daven have to buy something new. Yeah, they're, they're cool, they're cheap.

      [00:02:13] They're, I think they're like oh, oh eight. Nice. All right. I'm happy to say I've, uh, I foamed in, uh, I missed my reserve price because I just fell asleep at the wheel. But I, I foamed in, I got myself one of the, uh, one of the cock punch, uh, little roosters. Uh, after seeing that, uh, Tim Ferris was like legit starting that podcast, launched actual episodes is creating content around it.

      [00:02:39] And also, uh, I kind of like was pulled in after I saw that even on his main podcast, he's using his ad. To promote it, uh, which is, you know, is pretty sizable. So if he continues to do that, that ad space just has value in and of itself as an attention. and you know, he's talking to Steven Presfield, the guy wrote that.

      [00:03:00] You gonna have to skip six minutes now before I start listening. . Hell. Yep. 17 minutes in, you get 30 seconds of content. Uh, I'm kidding. I'm kidding. It's valuable. It's because people listen to themed into it. Yeah. IED into it. Um, yeah, I just took a look. Those, those, uh, etch pieces are 0.008, which as we, as we look at this right now is about $10.

      [00:03:24] Um, so, you know, don't, they're not going to go up a lot in value immediately. This is something that, you know, you can get them for that price. Obviously people are going to just keep getting, uh, new ones. Um, I think the idea would be for what you could potentially do with these, what they might make you eligible for later on, especially if you have a collection.

      [00:03:43] Um, so. Cool. Wanted to mention that after, since we had already spoken about them a bit. All right. What news we have? What's that? The news. Let's get her some headlines if we ready. Yeah. Let's you have you have more top line on, uh, on Deca or No? No, I, I think that's, that's it. I think we're. Looking at, uh, we're gonna talk more about, about NFT marketplaces because that's, that's the biggest thing that's going on right now.

      [00:04:10] Different marketplaces trying to, you know, whether you're, whether they're adding. Royalties back in, taking away open seat. Can't seem to make up their mind. But Magic Eden has been doing some, some impressive work and they have, uh, now launched, uh, polygon support, um, that's big. They have also introduced a discount and reward system for, for users.

      [00:04:32] I mean, I think this is maybe one of the more authentic ways to, to go about it is actually just saying what it is. You know, what they really want to do is, is create a loyalty program for users. We've seen how, uh, how different marketplaces have gone about trying to reward with the different tokens and.

      [00:04:53] It's been, it has, you know, the jury's still out on how that's working for Blur. Uh, it's hard to say that it's been super successful for rare in terms of, of staying power in Mar uh, uh, in the, the N F G marketplace, uh, landscape. But, you know, magic, heat, and I think they're, they've got, they've done some things right?

      [00:05:15] I can't say. You know, use the, the marketplace much. Um, just looked around and, you know, I have been impressed and I like what, what they're doing here. Well, I think one thing that when we were playing with Magic Eden, I was really impressed with were the analytics and the breakdown of projects and distributions.

      [00:05:31] And, you know what, Hmm. I think without Magic Eden, without them in the game open, Would not have that new beta functionality of analytics wouldn't be there. It, it's not, you know, like a monopoly by itself is not about to increase or improve the, the service without, uh, competition. So I am absolutely rooting for Magic Eden to keep pushing the quality of what these platforms should be able to produce.

      [00:05:56] All right. And speaking. Marketplaces and, uh, man, we've got flow. The, the, the, the, uh, blockchain that powers the, uh, the top shop marketplace. Um, you know, which has been relatively quiet. We've talked about how that has, they've really failed to make much of a, a comeback after, um, after seeing a lot of attention.

      [00:06:19] And now flow is down to about 90 cents. It's the all time low. Um, and I wouldn't , they're also saying the dapper has downsized further, doesn't seem good for this alternative blockchain. And you know, it makes you think like what happens to these. You know, to these assets, do they sort of get lost over time?

      [00:06:37] How do you know if it makes you think a little bit more about the underlying asset? You know, if, if people don't care that much about that, what does the, what does the N F T really mean and how much value can it hold? Yeah. Is the N F T value, uh, retained outside of the network or? only as far as it's built on that platform.

      [00:07:00] When it comes to something like an N F T on Tezos or Solana, for some reason, it's my feel that like if it's a legit, especially more on Tezos, that like it will have life after as opposed to it's only good in the context of its micro marketplace. Put another way, if I take my LeBron James card out of flow, transfer it somehow, cuz there's a bridge at some.

      [00:07:26] it really actually is kind of pointless because it can't be comparatively priced and traded in and amongst its peers in the same way. Does that make sense? Yeah. I think it's maybe a matter of art versus a collectible. Um, when we're talking about a, a piece that's collect, that's created by the artist and, and put on the block that blockchain, I mean, that.

      [00:07:49] The, the card, the, the top shot card of LeBron James wasn't created by him. I think if, if there was some something that, you know, was more directly tied, maybe it would have more value. And I think maybe that, I'm not saying that it, it completely, um, holds value, but I think there is something more to it than the collectible that.

      [00:08:10] Sort of becomes when the, when the collection becomes less relevant, it's hard for, for any single piece to hold value. And I, I tend to agree with you that there's a, it's a greater chance for the art to, to hold through when, when Tezos has been such a, um, such, such a common place for. For artists to, to go explore, especially explore, especially early artists to jump on because like the fees were low, easy to mint, like, you know, and it seems like it has, it feels like a grunge, it's almost like, it's almost, yeah, it's almost a, you know, the, yeah, the, the, you know, garage, the garage kind of place to go do your work.

      [00:08:51] The, I don't know, like a, yeah, grungy kind of, you know, the. , the minor leagues, you know, like the, the place to kind of work it out. And sometimes you like, there's some really incredible work and you, I mean, I'm not saying that everyone's looking to go to e there's some artists that have stuck there and a lot of them, a lot of the artists that have produced great work on Tezos then go on to also do work on, on e Man, you get me excited.

      [00:09:15] I wanna go tezo shopping again. I liked the, when we were doing, I liked that string of stuff that we were doing. I, I was. You know, looking back, I'm like rarely embarrassed about the random stuff I pick up on Tezos as opposed to like the random PFPs. When I like look back at our past projects, I'm like, do I really still hold a stupid raccoon?

      [00:09:30] Yeah, I do. I like, I'm gonna go burn it somewhere. Right. Yeah. Like I'm not super proud of that. I really like. , you know, some of those artists we picked up. But hold on, here's a, there's like another narrative here on this. Like, I just was curious in your mind, like, what do you think the, uh, like the peak price that flow hit was?

      [00:09:47] I wanna like, kind of like test your soft and a, uh, stupid market cap memory. I, you know, I, I don't know, but let's see if, I'm gonna just guess we're probably, uh, I don't know. Did it get $12? Playing at home. Guess a number? Uh, it is higher than $12. Do you wanna guess again? 20 . It is higher than $20. Do you want to guess again?

      [00:10:14] Oh, oh, man. Uh, okay. How we doing? People at home? Where should I go? How are you doing? ? Higher, nowhere 40. Yeah, 39.24 and it did that during the fever pitch of April of 2021. Like right when everybody was jumping on to this, like, what a great way to onboard fiat people into NFTs. Look how easy it is to get your money in.

      [00:10:43] Come on, everybody. The water's warm. Wow. Ouch. Wow. Yeah. Ouch. Ouch. anyway. . Uh, in other news anyway, you wanna find another way to, uh, depress people? Send your, to use. Well, there's a new way to use your credit card to buy NFTs. You know, you don't have to use dapper or, or flow anymore. Meta mask is now enabling.

      [00:11:12] Users to buy NFTs to buy ETH using PayPal. So, you know, if you got your PayPal hooked up to a credit card, hey, it's right there. I mean, it is good to have more onboarding options. You know, I think we're gonna just, I, I, I feel like Beta Mask has been trying to add new features. It feels a bit like they, I mean, they hadn't innovated the.

      [00:11:33] on wallet features in, in quite some time, and it feels a bit like they understand there's a lot of competition coming and it, that's the, the most direct experience that people have, uh, with their, their assets. And there's, uh, uh, a lot of potential for improvements. So, um, you know, interesting, it's, it PayPal's already sort of a digital currency.

      [00:11:54] We're just linking it to a little bit further, so pretty natural here. Yeah, pretty natural. And I think part of this is being pushed by the fact that Stripe, I think we talked about this in the news, launched its own mm-hmm. Fiat on-Ramp. What is amazing about this is that, well, like right on the heels of us talking about how Flow by Dapper Labs was so good at turning a credit card into flow, like into coins that I would buy the cards with.

      [00:12:21] Boom. Done. That functionality is now. Three clicks away on Stripe to embed on your site in the same way that you collect credit card payments, you can now turn those payments into crypto. They have an on-ramp, you know, tested and built. So it's like everybody now has that type of on-ramp capability that, you know, dapper had this like unfair advantage and it was like all about flow.

      [00:12:48] This like beautiful user experience, like that's now being adopted. Everyone. I think that's huge. Yeah, it absolutely is huge. And I, I think the man, the ease of of, of being able to transfer these, I mean, to, to buy and, and move these, uh, from, from, uh, fiat currency to, to crypto, I think is going to become the, you know, the, the easier you can make this in your wallet, I think the better for users.

      [00:13:14] I think there's just going to be a ton. I a ton of new opportunities to, to go between these two. It has been somewhat of a difficult, uh, process and it's also why I think we've maybe run into problems where we don't really know how much is, is held. You know, how much these, these digital. Dollars, you know, these, these U S D, uh, U S D or denominated currencies.

      [00:13:38] We don't really know how much is there, but I think this is a much more direct way to see how, how the flow is going when you, uh, have people d just buying it directly and going into their own account, into their own meta mask, holding it directly rather than, uh, Hey, trust us. We bought it for you. Just, uh, you gotta hold it.

      [00:13:55] Yeah, this is the not your keys, not your crypto argument. And I agree when the on-ramp is pushing people to have their own custody, for better or worse, um, we have a system that is safety built into the decentralized nature rather than centralized systems of trust, which have been, um, eroded to the point of non-existence thanks to ftx as example of how quickly you can just steal customer.

      [00:14:23] You know, fortunately in other news, he's been arrested finally. Um, but he, um, you know, he is, yeah, actually maybe remembered, hopefully for inoculating the next group of users, uh, that come in, uh, to just frankly not trusting anything with a centralized exchange. A fewer money is in a web two database. It's not.

      [00:14:47] Yeah, I mean, uh, it's something that we've, we have touched on before, how much NFTs have done to to, to get more people to use their own wallets, to self custody, to their assets, to be. To be accustomed to using their own wallet. And I think that's part of why, you know, you've seen meta mass become so popular because it was, it was kind of the default.

      [00:15:08] It was what was everybody was using and then there was a huge surge and it was all, there's a lot of NFTs and we've seen some, some attempts at, at NFT wallets, and I think now we're understanding of this is, this is really a, a major touchpoint for customers. Is, you know it, how they're using their wallet, especially if you're, if you're providing on and offboarding, uh, or on and off ramp, uh, channels for or for your users.

      [00:15:34] And then you start thinking about, you know, if you are the, if you're a bit responsible for, for how the transactions are presented, you know, you need to. You know, you've seen Meta mask improve, how they, uh, present what you're actually signing. Uh, when you sign a transaction. I think we'll start to see some of the, some of the, I don't know, the, the backend features become much less.

      [00:15:57] Present and have these, uh, these interfaces become mu much more friendly for users. And then, we'll, on top of that, I think we'll start to see more. Um, I don't know if it would necessarily be through token, uh, just giving token rewards or, you know, what it may be. But I think we will start to see, um, see these wallets and, and start competing much like the, uh, the N F T marketplaces.

      [00:16:21] Uh, Yeah, I'm embarrassed. I'm looking at the buy options in my, like meta mask right now. I don't see it. I see Coinbase pay, uh, transact moon pay wire. I guess they're rolling it out soon. It's an announcement, so I have, I have yet to use it.

      [00:16:42] I got the same, I've got no secret hidden features yet either, so yeah, I'll have to wait and see when that actually goes live. , oh man. Okay. Oh, wait. Next we've got, we got ANCA Brands. They're launching their own ppf, P N F T Collection Mind Mocha Brands, you, they own a piece of just about every. Gaming, N F T Company, um, seem to be invested in everything and I, I, you know, I guess looking to, to raise , raise some more funds, uh, or I mean, release a P F P N F T collection.

      [00:17:17] Sure, go for it. Like, I don't know if now is the best time, but Right. Who knows? It's the way, it feels a bit like they're just, I'm trying to raise some more money, but hey, you know, I hope this works from, uh, definitely not something that we are recommending at this, uh, as our feature project because George has a great one for us.

      [00:17:38] This would've been a gem like last year, cuz each one it says, I'm like reading it. Well open up the utility called realm. Utility realm, huh? Well, yeah. Represent a collection of core pillar. . Um, metaverse. Uh, metaverse. Buzzword. Buzzword. Buzzword. Grow community. Yeah. A year ago. Benefits member benefit. This would've been a plus a year ago.

      [00:18:00] Oh. Play through games. Good game and game assets. This is buzzword bingo. I think it's. Solid . Uh, anyway, uh, yeah, I have , I have an affordable project for you. Um, so, uh, announced, I think it was, you know, around 12 December 14th, maybe I forget exactly the date, but you two can now own a Donald Trump collectible card.

      [00:18:28] That's right. Collect trump cards.com. , I, this is not a joke. Uh, this was literally something that, uh, the former president, uh, announced, um, in a press conference as he's wanted to do. And these are limited edition trading cards and they're only $99, 45,000 of 'em, right? Yeah. Yeah. So you two can get one of the rare 45,000 of them.

      [00:18:54] Um, you know, there's utility here as far as I can see. You can win thousands of prize. , um, Miami Dinner with Donald Trump, a Mar-a-Lago group Cocktail hour, a group se a group zoom session. That's pretty good. Look, so we are mocking this and I think there actually is something to like the idea of being able to release a project that did, you know, if you did this the right way and, and could do something, there's something there.

      [00:19:21] However, I don't. I, you know, I, I don't think it's, you know, I'd be surprised it's the thing if it, if it really, um, delivered on all those promises, I suppose is , right? So, hold on the floor price right now if you want Trump digital trading cards and we have this link is, uh, currently 0.008. You know, depending on when you're doing that.

      [00:19:44] Uh, so far, 86 eth in total volume has been done across 25,000. items. So these things are going, and here's the thing, there's a tight-knit community that is very interested in this stuff and there, you know, there might be value here if you wanna like, try to flip something, um, on like one of the like, You know, special prize things, although I, it's on Polygon, right?

      [00:20:08] I assume this is why you're bringing it up. Cause you gotta pump your polygon bags and score another one for the Polygon Biz Gev team. They are out there working it. And I got, you know what? See, polygon doesn't care if you're on the left to the right or the crazy. They're out there, they're out there making blockchain space and selling it for you affordably.

      [00:20:29] Uh, absolutely. Hey, there's the, it is the choice. It's the choice for a. Project like this, you know, Starbucks, Nike, Trump. All right. So you get a sweepstakes code. All right? You'll receive an email with sweepstakes code enter shoes. Please enter a valid email address when you purchase. Uh, you'll enter that entry code sweepstakes win trump prizes.com to see if you're a winner.

      [00:20:55] No purchase necessary to enter the sweepstakes technically so you could go enter those sweepstakes without buying this, by the way, cuz they're using sweepstakes. for those of you who are, uh, nerds out there in this sort of, uh, legal nuance of how sweepstakes work. Um, interesting. Yeah. So that's also, I'm assuming there's no on chain, uh, proof of a winner.

      [00:21:16] No. No, there's no on, so I don't like that Then, so like my angle is gonna be like, oh, is there like, um, a rare one that people don't fully understand, they give you a chance? Like no, it's uh, only on purchase. Do you get a chance? To enter a raffle, which by the way, you can enter for free because how sweepstakes works.

      [00:21:34] See how that works. Um, and then it's, you know, the price is still holding though on. Um, as you can see, George has, has looked into this . He's, Hey, he spent some time looking into the rules here. Has somebody, what does that stack of handwritten, he play arbitrage on this got behind you there? Huh? Is there

      [00:21:52] I'm the proud owner of, uh, what was it? Trump for Senate dot eth because I think at some. , they're gonna want that. And I'll be happy to take all of that money and donate to two progressive causes. I may keep some along the way, you know, I mean, I think you should just go sweep some floors.

      [00:22:11] not that bullish. No, there's no, I It feels like, you know, after you, you tear a, after you tear the top off, there's no continued value on this. Uh, as far as, uh, as far as I can see, right? People are doing it. , you know, I mean, unless they probably get access to events, so, right. There's that, I don't know. Um, anyway, that's, it's affordable.

      [00:22:36] Um, I don't know though. So , you wanna lead us into our topic now? Unrelated topic. Just so happens that these two things are just right next to each other on this totally unrelated topic of how to run the perfect N F T. , we are gonna just sort of go back and forth of what are the elements. So let's just say, I don't know, we were lacking of moral compass and we were consultants on a project and they're like, well, we wanna maximize how much money we can draw from an audience.

      [00:23:10] What are the elements? That you would bring to bear? I can kick this off if you want, unless there's something you're like itching to kick us off with. No, go ahead. I have some ideas here. You know, I, I, we've all definitely seen a ton of griffs in the NFT space. Man, it's, I, I don't know that I, the perfect one's tough because there's some stiff competition for grifters and, and crypto and NFTs.

      [00:23:37] All right, so here's my first one. You have to start off with complete and anonym. or complete celebrity. So you need to take one of these extreme polar tracks. You need it. No one needs to know you or everyone needs to know. Let, but you still, yeah, I'd say you gotta be attention. You gotta be. You've gotta create a, a, a mindset of us versus them is, is part of that.

      [00:24:04] It builds, plays into that. Because with the small one, it's a, you know, it's the, the David versus Goliath. With the, even with the bigger group, you still feel like it's, you're, you're the, I don't know, maybe the, the marginalized group. . So it is a us versus them mentality that you sort of, you need, I think for running a grift.

      [00:24:24] Okay. So you're gonna bring in the US versus them or, I'm writing all these down us. Yeah. Well I think it's actually a great pro. It's actually something that it, that goes into a great project, but it's also part of a, if. Buying into the, the graph. So I don't know. , it's, you know, careful here where we say great pr, what's a great project versus what's the, what's the Grift, right?

      [00:24:45] Lovely. I lovely. End up a love. We end up actually like being like, oh no, that's a good project. I'd buy that. Well, we'll see what we end up. Okay. Can't be in the middle. You're saying ? No, no, no. Uh, I would say you need. A 10,000 or less supply. I think supplies have to be limited so that you can, later when you get to it, manipulate the price, uh, because you need to, when we get later, and I don't wanna spoil, but you need a, uh, less than 10,000 batch of, or 10,000.

      [00:25:18] Okay. Yeah. For NFTs, yeah, I would say that's generally true. I guess it, what I'm thinking is generally you just need to, the other part is maybe you need to control a, a, a good portion. You, you need to be able to control a good portion of the assets in, whether it's directly or, or, or setting up a, a nice network.

      [00:25:40] Where you know that there's a, a certain amount of control and, and guaranteed votes or what have you. If, uh, it comes to those things. Yeah. If it's like a Dow or something. Okay. That's, that's mine. So, uh, a controllable 10 K or less batched, what is, what is something you would add? Uh, we'll just, you know, I think.

      [00:26:01] The, the idea that it, that you can control a high percent of those assets and I think having maybe more, ah, having the network of people to, to do this, um, that can, hmm. That add. So the network of people that, that will be able to control in all that will be able to help control the assets and also add what seems like more credibility to a project.

      [00:26:27] I think getting people, the, the, the grift almost, you've gotta get some, some credible people in it to make it look good. I think those have been common in many of the, the grifts that, the biggest grifts that we've seen, . Yeah, no, you need um, sort of a credible whale, right? A credible N F T whale. Mm-hmm. or someone basically not you to vouch to vouch for it cuz what you're trading on is trust.

      [00:26:53] Yeah. Whether it's, yeah, I think it's generally, you know, influencers or Yeah, I mean the N F T influencers, you know, we see different levels of those and pH man there's some you need pay so off for that. Okay. So I think you need a tight initial white list that is oversubscribed. , you cannot leave things on the shelf.

      [00:27:14] I think people have to have felt like they missed out. And if you are meeting the entire demand, the entirety of the demand, um, You're gonna have a problem because there's gonna be no one to FOMO into secondary and tertiary markets. Yeah. You gotta guarantee that sells out right over even if you are in there yourself.

      [00:27:33] I know. Yeah. Well, I think that that goes back buying. Can we control own books a lot? Buying your own books with, let's say an RMC war chest of money? Hypothetically speaking, if I wanted a book to go to, number one, I would use a war chest of campaign funds to buy my own book in mass. So drove it up hypothetically.

      [00:27:50] I would do that with NFTs. Just literally, no, I'm literally saying that it's not even hypothetically. So oversubscribe whitelist, and it must sell out.

      [00:27:58] What's the next step in our grift?

      [00:27:59] All right. What do we got here? Um, I I can keep going. Oh, go for it. You what? Hit us with the next one, George. , this is very important. You need to have a very high creator fee. Oh. Because you're gonna be taking advantage of secondaries, right? You need to get a taste. Yep. Yep. Uh, so I don't know, let's say around, hmm, 10% or more.

      [00:28:27] Totally unrelated fact, I'll give you and the listeners at home, one guess at what the creator fee is for Trump Digital trading cards. Hmm.

      [00:28:39] All right. I think another one would be an example of, of winners. You gotta show the, the people that have won from your project that have done really well. You gotta have some people that. That, uh, can, can vouch that have sold something for a high price, um, that have, that make it look like a successful good project to be in and whew, I wanna be like that.

      [00:29:02] I'm gonna call that. Like, that's such the Ponzi round one, right? Ponzi round one has to be people that have flipped these four a win and then you make sure those people get pressed. It is critical because that's what starts that greed. where it's like, oh my gosh, people are buying these things up. I bought mine for a hundred dollars.

      [00:29:21] I flipped it online for $300. You don't believe it. So perhaps you're thinking about with that sort of, uh, arsenal money. Now you're gambling a little bit, but let's be honest, you're, you're a grifter. Uh, you need to be sweeping that floor at some point, but also pushing it up for certain people to then talk about it.

      [00:29:39] So maybe what you do is, I would say, put a finer point on this, the proof of. , uh, I would pump the rarity. I would look at the rarity and then like make a game on that. But I would even go more, uh, sinister than that. Uh, I would have somebody buy something that is like technically rare and then have another account pay and overpay for it between those two accounts to show that people are overvalued.

      [00:30:03] Good old wash trading. Huh? Strong wash trading on high. , uh oh Yeah. Show that demand. Cuz people aren't just, they're not just buying the floor. They're, you know, they're, they're big fans of this thing. They believe in it, right? Well, the rare ones, maybe if you get a rare one, if you mint another one. Oh my gosh.

      [00:30:21] You know? So that's, um, just a, I feel like I kind of, I did a plus one on yours there. So here's my next thing. I think we've done that with a couple of these. . , you. All right, so here's my next thing. You need a future hyped event that has potential utility, but is not entirely clear Utility. Yeah. You gotta have, you gotta have promise of utility.

      [00:30:42] Something's coming. Something. You're gonna get free something. You're gonna get access to something, a big thing will be announced and you're gonna wanna hold this thing when that thing happens. I need, you need a hype moment When a holder's only event. On Fire Island or Fyre Festival? . Is it ? I forget where Fyre Festival is.

      [00:31:07] It was, I don't remember. I got something, I got that wrong. You know what I was talking about? ? Um, here what I'm saying, a hypes moment in the future that is, uh, both exciting and unclear. not, not specific. You need a non-specific, exciting thing in the. I don't know. I feel like people should hire us for this stuff.

      [00:31:27] We're given all the way gold here, man. I know, but you know, when you look at this, it's like this is, if you change a few words here, it's actually what you need to do, . It's like it's a lot of the effort. . No, but like the wash trading is a bit like that's over the top. Right. Obviously. Yeah, I, I understand that.

      [00:31:48] But no, there's, there's obviously things you would take out and there are things like, hey, if you actually, you shouldn't be super specific about saying like, Hey, we're going to have a token that launches in mid-December of this at this time and it's gonna drive you this much value. That's definitely not promise, date, and a token.

      [00:32:05] Oh yeah. Never promised dates. Again, I said hyped moment in the future. I didn't say date. Uh, that is exciting and non-specific. Um, alright. My, my next one is, and this may take a little more technical investment, but you need, you need to get staking and yield involved. You need to have people holding actually, so you need Oh yeah, yeah.

      [00:32:28] A certain amount of volume flipping, but you need people like staking that thing so that they are not constantly dumping on the floor. Cause the danger here is. , um, people dumping to the floor. Um, and that's the thing that you're artificially trying to boost up. Yeah. You wanna, yeah. You want 'em to hold that You wanna maybe reward them by, with maybe tokens for, for holding that I would even say, yeah.

      [00:32:50] I mean, I think the tokens get a little scary to me cuz that's how you piss off the s e c, but. If you're really grifting, you probably want tokens. So I'm gonna say token. I mean, if you're Grif. If you're grifting, you are absolutely adding a token in here. It's what I think best. Best the best. Yeah. I mean, it's easiest way, it's actually, it's, I think it's easier to lock up supply of, of tokens without people generally noticing.

      [00:33:18] Compared to NFTs , it's yes. Um, alright. Tokens and staking. You know, I haven't mentioned, I think the art has to be passable or unrevealed,

      [00:33:29] but the problem is on the reel. I think there's a, you can be unrevealed, I think. Yeah. There it has to be passable. It has to be, yeah. It has to be somewhat legit. There needs to be something. There's gotta be some belief that, hey, look, this is, there is real effort that went into this. It's not complete junk.

      [00:33:47] They've clearly spent time on this and, and, and, um, at least gotten the right artist to work on it. So they're taking it seriously. Yeah. I would actually go an AI generated route here. So it's like you can claim something nuanced, but you didn't have to pay anybody for it. And, you know, train the ai Well, if you, I mean, if you train a chat g p t to start spitting.

      [00:34:10] New ideas for the AI that, Ooh, yeah, there you go. Bun, boom. Done. I mean, boom. Done. It just passable, art passable. It can't just be a copy paste of board ape, like I think we're even on a grift level. Like we're kind of pa, we're above that . We're above that. There's stuff in here. There is, and I think, you know, if I was gonna add something, maybe we spoke to this a little bit before about getting, you know, credible influence involved, but I think getting big, getting a big investment of some sort in, in the project that's even outside of the N F T, you know, essentially we believe in this so much, you know, that looks really good, right?

      [00:34:49] The Andreessen writes a check for the, the underlying platform tech. You're like, What could go wrong? Yeah. I mean, if they're valuing just the tech it that much, imagine what the, the N F T is gonna be worth in the future. I mean, that's the real asset here. I used to say like you needed that discord community running nonstop and pieces like that.

      [00:35:12] I feel like there's a little discord overload. However, I, I think there might be a value for like a rarity play of like, if you own this type of. you get access to like the Trump disc or the, sorry, oops, I'm some exclusive thing. Let's say you hypothetically had a social media asset, uh, some exclusive room in, in where you could only enter if you had a thing.

      [00:35:37] Yeah, uh, yeah, I think there is a, maybe the discord number isn't as big or the activity, but yeah, you better have a, a ridiculously large social media account, even if you are getting, you know, 32 likes from your 38,000 fans or whatever it might be. Um, I also have another one non redeemable. Right. This is the, this is the golden, this is the golden utility.

      [00:36:05] And this is the, this is one of the things that like, not to throw shade at Nike, but you know, they offered up the boxes, right? And then after the fact said, only if you're in the United States, like, I mean, okay. Ish. , but what if it were even tighter than that? Let, like say there's like a traveling, you know, hotdog stand or major speaking event that you happen to be doing around, and only if you're there at that time can you get access to it.

      [00:36:33] But that's, that's for the fine print. You get access to backstage at a thing if you're wearing certain things in certain places at certain times. And you can do a fine print, but it could look like access on the top. You know, I think Gary V did this like pretty honorably I would say, with regard to conference events and access.

      [00:36:52] But you know, he's not meeting and greeting the like 40,000 plus holders of his, his pieces. But there are a lot of promises out there.

      [00:37:04] So I guess, uh, you had mentioned something about 10 K or less. Uh, you know, I, I'd say that's how you start. But if you're really a top-notch grifter, you don't end with one collection. There's more because it's so, you know it, you've got to grow it because. , there's, there was so much value. I mean, you know, we know this, you know, these projects are a bit of Ponzi, so if you got some winners, you know, you need some more money to keep pumping in and let's get new buyers in here.

      [00:37:33] We're expanding the ecosystem. We're taking in more money and delivering maybe even less than we were before. . Yeah. A second, a second and third round. Yeah. I mean, of. Of that NFT drops. Yeah. Th this is a lot of golden here. I think, you know, if, if we hadn't given away all the secret sauce here, we could have been dynamite consultants for this

      [00:38:02] Yeah. Uh, So for the record, this is not financial advice. We don't recommend you do this. We are speaking on behalf of ourselves, not any of the companies that either of us work for , just in case. No, definitely not that we've seen in the space at all. Um, this isn't based on, I mean, oh man. Could, uh, Felix, like we need someone to just do a mashup of all of the worst things that have happened in.

      [00:38:30] I don't think we need that. . Yes, I, it's sort of the Silicon Valley H B O show of just the N F T crypto space. Man, that could be very entertaining. I would watch it. I would watch it. It deserves to be done. It deserves, I mean, we're gonna get a sandbank and free documentary, but I think we need something bigger.

      [00:38:46] Oh man. That's gonna be painful for some people. I mean, hum. Luckily, not one of them, but I mean, you know, other than the contagion, you know, we're all part of that. Oh, yeah. No, I guess I am a, a indirect victim of that bs. All right, so here's what we have just to run it down so you can hear it all together.

      [00:39:03] How to run the perfect N F T Grift Extreme and Anonymity or Extreme Celebrity with a. Foster the US versus them in the narrative 10 K or less in your badge so you can control a high percentage of those assets and bleed it off. Credible, N F t, whale or influencer being publicly involved, oversubscribed whitelist.

      [00:39:25] You must sell out even if you're buying your own book. High creator fee, we recommend 10% or more proof of winners, right? Ponzi initial round of wash trading would be it cuz it's even better if you're wash trading, picking up a piece that you know is valuable and then reselling it to yourself and another anonymized wallet making a big deal about how rarity is spiking.

      [00:39:46] Then you need a hyped moment in the future. That is a both exciting and non-specific. Something big it is coming. You'll be surprised. You may know the people. Say words that inspire people, don't put a date on it. Tokens and staking. That's just functionality you need to, to hold the floor. Uh, unrevealed art for a period of time.

      [00:40:08] And then it has to be passable Art that is not a complete copy that people can narratively tell themselves like, all right, this is close enough to art, or something I like and. Some sort of outside investment news to the company. Uh, exclusive social entry that elite pieces give you. Unredeemable utility events, i r l or what have you, and a second and third or as many rounds as you can possibly make to really milk the heck out of your audience until they are, uh, completely broke, until you cannot get any more money out of them.

      [00:40:44] And then you find a new audience and need the same thing, you probably need to go. Probably with a NA anonymity and then go to Extreme Celebrity because after you burn down your name, it's hard to do it again. It's the top level. I feel like that's, uh, pretty solid. Good advice out there for ripping people off.

      [00:41:03] Yeah, this is solid. I mean, man, we've seen some hyper success using these tactics. Uh, I feel like if we just, you know, we can put a book together or something, you know, get a few, get a few nice quotes from different people in the space, they'll, oh man, this will be a hit. Oh gosh. . Here's the . I have nothing else to add.

      [00:41:25] This is a perfect, sometimes you have a perfect episode. This, this is a perfect episode. I think everyone learns something and I'm very disturbed. All right, see you out there. All right, good one.