NFT Draft Season - Platforms Compete for Projects

Theme: NFT Draft Season - Platforms compete for Projects

Tis the season to be poachings, Polygon won this without having the highest bid
- Polygon Paid y00ts NFT Collection $3 Million to Leave Solana - Decrypt
Did initial headlines/narratives mislead people to thinking Polygon was chosen organically?
- https://magiceden.io/marketplace/y00ts?activeTab=stats
Reasons to leave Solana?
Who else might be targeted?
What happens to these assets - are they bridged?

Warning this is a scam: https://opensea.io/collection/the-rugradio-origin-reveal-pass

NFT News

Rough summary

[00:00:00] audio1487909992: Today on all about affordable NFTs, we're talking about the NFT draft season when platforms compete for projects, so we'll get to that in a little bit, talking. Talking about how Polygon made some moves in, uh, the 2023 draft season, which I didn't know was a thing. Anyway, Andrew, how's it going? How's the break?

[00:01:05] What's new in your wallet? Happy, happy New Year, George. Good to Happy New Year. Good to talk NFTs again. I feel like, man, it's, it's been been a little bit longer than usual since we talked, and man, I am, I'm lost in the nft. It's taking, it's, it's taken me, you know, I've been up all night trying to just study to what's been going on to get ready for this podcast.

[00:01:24] Well, I have to hand it to you. You officially accomplished something that we thought was just out of the realm of what we would do, which is an outsider interview. You brought in a couple experts, so if you've been listening, go. Past two episodes. Past two episodes, we had some great guests on. Uh, and really from that data perspective, uh, I liked how they were looking at the actual data profiles of, you know, hos versus flippers and how you could actually like see some of those things from, uh, from their different dune dashboards.

[00:01:58] So thanks for doing. Yeah. Finally got the, those, those first interviews on. You know, if you have been listening, you may have noticed that, uh, that we talked intro wasn't quite accurate until now. Now we can say that we've had guests on, so we're good. Yeah. To, to a year. Let's not, let's not raise it. Uh, all right.

[00:02:18] So what's going on? What's, what you've been active in, in your N F T trading? Any, anything going on in your wallet? What's up, George? Well, I'll say I did some end of year aggressive, so the biggest thing in my wallet really was end of year aggressive harvesting. Just like good, taking a hard look at the things that frankly just didn't perform.

[00:02:36] I pruned them and. It looks like I accidentally pruned a little too hard. I left one, uh, floating out there. Rug radio, which we'll we'll talk about today. There, there's a rug radio re reveal pass, so, uh, looks like I accidentally sold that for 0.1 below the floor. So, uh, it's been exactly 10 days before making a mistake in N F T trading this year.

[00:03:00] I think that's a new record for me. 10 days is, yeah. Yeah. I mean, pretty good. It hasn't doubled yet. I Exactly. I can't listen into this. Hey, if it was one of you, if it was one of you who bought it, you know, because you know how things go when George sells. It must be going up. Um, oh God, please, please again, if you want hot tips.

[00:03:19] Uh, it's like the, uh, I'm like the, the, the Jim Kramer of this stuff where it's like, if I'm doing the thing, just go the opposite direction and you're in a good. The reverse portfolio , the reverse reverse portfolio. Um, yeah, so there's your, there's your hot tip for 2023. So far, uh, anything you said you were pretty quiet.

[00:03:39] This is, this might be the longest stretch of inactivity for you. I saw you were, you were throwing some bids around on picking up market psychology a while back. I actually just threw a bit out there. I like where that project is right now as a. Uh, by Colby, anything you're Ben Flo still floating? I had been putting some bids out there.

[00:03:57] I haven't done that in a bit. Uh, last, let's see, I was looking, I checked my activity to, to confirm what I had been doing. So I was pretty, pretty inactive over the holidays and um, I had picked up some tabs, uh, the N F T from Alien Queen, um, I think, yeah, that had actually, I believe that got up. Point four or something at one point.

[00:04:18] I think it's down at 0.2. I had a free mint opportunity, so it wasn't a real big, real big decision for me to vent that one. Um, but that, that is from the artist Alien Queen. So that's one that is in my wallet. That was the last thing that I had picked up. Um, but yeah, otherwise been, been relatively quiet. I did, I noticed, um, you know, beginning some offers again on my, uh, friendship bracelets.

[00:04:39] Uh, still have a couple of those. Um, those were the, uh, the projects we've talked about from our blocks. Along with from Snow Row and Alexis Andre, I believe is more the artist behind it, but they find, I think today as we are talking, is the final day to mint those. So what I've heard is that they, I think they're up over 36,000 total friendship bracelets.

[00:05:02] Uh, if you remember, there were. for every piece, every wallet that held a, an art block piece as, as of the, the, uh, snapshot date, which was taken, I believe in early November, um, could admit two of these. So there are now over 18,000 wallets that have minted these, um, you know, saw a surge in the last few days as people realized that the, the deadline was approaching, I think that floor price did come down.

[00:05:27] Although I'm still seeing a lot of activity in those, I'm. Hey, I'm surprised by how well those have held held up. It's shocked. A big, yeah, that's a big mint, uh, number and you know, there is. At least they're gonna stop being minted now. So, um, you know, I think there are, uh, you know, there's good case for, to be made.

[00:05:47] They will, uh, become more collected at this point now that, uh, you know, that they're, you know, more of the, the final rarities. Um, I, I think there are some that are the snow fro, uh, pallet that are up over four, eighth or so. So if you do have any of those, you may, you know, take a look before before you do.

[00:06:07] Because some of those pallets are quite rare. Um, but, you know, interesting collection. Nice to see that it is finally done. Um, because I think it's, it's nice to know the final number. Um, well maybe not quite yet, but close to it. . Yeah. Yeah. And I imagine there might be some, some price, uh, volatility on that.

[00:06:24] So waiting carefully, especially with 33,000, uh, of them. I don't know if any future promised access or utility on those right. Feeling that could be over 40 by the time this is done. Yeah, those deadlines tend to push people. No, there's nothing there. I mean, there's the utility, I guess, is you get instructions of how to make a real, I mean, a real friendship bracelet.

[00:06:48] But I don't know that you need an N F T for that. You know, I, I think you need a kindergarten class and some yarn. . Oh boy. Oh boy. Oh boy. Oh boy. Sorry. Second grade. Second grade. Uh, alright. What do we, oh, go ahead. Well, before you go to the news, I, I'm kind of interested cuz it seems like there's, um, as we kick off the year when I like look at macro data on like Crypto Slam and others, that overall sales volume in sales dollars is up, but transactions down, buyers down and it seems to be like just whales moving around right now.

[00:07:28] So it's kind of like a, a tale of tale of two, uh, two numbers here, you know, in terms of participation, not as much, and a real thinning of the herd so far. Hard to say, you know, 10 days in, uh, we were joking before this pod got started that, uh, we're gonna hold off on our predictions until the, uh, the end of 2023, which will then back date.

[00:07:47] No, I'm kidding. We're, we might do some predictions in February when we know, um, a, a bit more just to cheat because we did so well last. Yeah. Right. If you listen to that one, you'll realize that how far off we were. So, um, you know, don't come to us for, uh, for predictions on the future. For sure. Yeah. We'll just wait, we'll wait it out.

[00:08:09] Uh, but I'm kind of curious, like, so moving into this year, what, what is your, your wall planned? Kind of like stick and hold on this thing. Like, you're not doing too many transactions right now. I can see, I. Probably just sort of paying attention to your existing access wallets, drops, things like that. . Yeah.

[00:08:29] That's, that's been, I mean, yes, I should be paying attention more to those things. , I've been, you know, I have too bad the last couple weeks. You know, it as, as, I mean, as you know, you're, when it takes a lot to stay on top of all of these different projects and man, it is nice to kind of, uh, forget about it for a bit.

[00:08:48] And yeah, I think, you know, I. . I mean, I think I've, I've shifted some of my, uh, I don't know, sort of my collector mindset a bit and, and trying to think of things that I, trying to really collect things that I, I'm more okay holding for a long term and not being , not really jumping at a lot of new projects.

[00:09:07] I mean, that, that's, I feel like how I've. Have shifted anyway before this. Um, you know, I think I'll continue that this next year. Um, you know, we've, it's, yeah, don't wanna, I'm not gonna say what's gonna happen, but I, you know, I, I do see that we, we've seen that, we've seen some, some of the. Stronger use cases of NFTs that some of the things that have stuck around art has definitely persisted as one of the stronger use cases.

[00:09:32] Digital art has found a, you know, a real home in NFTs. Um, you know, I think that's probably going to persist. You know, we, I, I, I don't know that, that something like gaming is coming this year. I think that we, you know, as you know, we, I dunno, I see that we still have a lot of people around and at the same time, you know, there's not the same excitement, there's not the same, um, you know, let's go try everything, uh, kind of mentality.

[00:09:55] From the crypto or N f T market as a, as a whole. So I kind of think that that's, that those, those sort of far off things that gaming and stuff may not, uh, may not really see much light this year. No. Again, if you can somehow survive and, and make it back to the, the next bull bull cycle, I think, uh, it'll come with the, again, general crypto markets.

[00:10:20] I think, you know, in some ways NFTs are lever, but you. It's, um, it's winter, it's wintertime, so I, I agree with that. I'm kind of doing similar things looking. Artists that I know will continue to produce and actually like look in terms of a flight to value, we're starting to see it like the values coming back in Max Pain and Friends, which was previously the lowest value wax comedy, right?

[00:10:47] It is. You, we are almost dangerously back to break even on, on that mint price. Ferocious is, uh, just strong in terms of like his canvas and the paint pieces that are, are seemingly increasing. . Um, other things that, you know, we mentioned, uh, Pinder Van Armen in the past, um, in his pods. Like those are up. So we are seeing some life in some of these older quality pieces.

[00:11:14] So that's given me hope while on the other side of it, like my whole like obsession with like the Nike dunks was. Poorly timed. I'd say overall, like they just, you know, oh are floating around at like point 0.25. What's the common story, George? That's, you know, whatever num number down number, not zero, cuz they're not gonna give up on it, but people are not happy with that.

[00:11:36] So, you know, a mixed bag. But, um, I'm setting a, a sort of play budget and, and focusing, I think similarly. On that as I was talking, I had to pick up that floor market psychology. It was too far below the, uh, . I cleaned up that floor. I cleaned it up. Is that I couldn't turn it down. Is it 1 25? Oh man. I mean, it's below the original Mitch, and it's below original Mint was, there's breaking news.

[00:12:05] Uh, it is now a new. There you go. . There you go. Clean. Clean that up. Um, so you know, if we just go by those metrics, you're up. Yeah. Sure. That All righty. All right, let's roll into news. Let's roll into news. Yeah. What, what do we have in here? Get some headlines here. Oh, man. We've got, it has been a bit since we've talked, so we've got a, well, I don't know, we've got a lot on, we've got a lot of these here.

[00:12:32] I don't know how big a lot of these are. Um, so one that we've got is the China who, let's see, the country's previously. Band, NFT and, and crypto, uh, NFTs and crypto. And now they are, or they have launched a an N F T trading platform. I haven't actually heard much about it. This is one that I had kind of bookmarked, uh, you know, back before the new year launched on January 1st.

[00:12:56] I haven't heard much about what's going on there. , um, a little hard for me to understand how they're gonna have a lot of activity on this N F T marketplace while they've been cracking down on it heavily within the country. So, can't imagine there's a lot of users ready to, to go for it, but that's, it's quite the turnaround.

[00:13:11] And, uh, I don't know. I mean, I guess maybe they see what, uh, You know what the potential is. Um, , I don't know. What do you think here? Uh, I think this summarizes it pretty safely for me. The marketplace is built on WBA chain. Uh, it is a heritage protection chain that is owned and operated by art exhibition China.

[00:13:32] So I wouldn't call it crypto or blockchain so much as. It's something that is masquerading at it. I get the sense that, uh, transactions can be probably reverted and aren't quite as That's, that's true. Yeah. It's probably not all sales are not necessarily final type of way to, to maybe put an app out there in the world that you, you know, get maybe a lot of usage and learn a lot about people

[00:13:57] Um, if, if it does pick up any kind of traction Yeah. Look, um, , it's interesting to see if they can take the, the firewall approach to blockchain tech and, and what happens. Uh, a lot of people in China, so we'll see. All right. Now we've got fanatic. This is the, let's see, this is a, a , let's see, a fan goods company that they do own, they own a 60% or, or steak in candy Digital.

[00:14:27] That's been big with the, uh, M L B. Some of the MLB attempts at NFTs. Um, as we've talked about, NLB has, major League Baseball, has tried a few different ones. They are selling their steak and candy Digital sounds like they, uh, maybe are just through with, uh, the, the NFT market. You know, as we've seen, they haven't been all that successful and I, um, uh, frankly, I'm a little surprised that they were able to find a buyer right now.

[00:14:54] So, you know, maybe not such a bad idea. I don't know. They said fanatics was founded in 2011, become a well-known name in sports and e-commerce valued at 31 billion, which is sizable, but I don't see the, the price that they. Yeah. I mean, it's hard to know what they, I mean, they're probably, for them it's a, probably a , um, good loss, uh, that they can write off against.

[00:15:17] Yeah, there you go. I was doing some of that, just a smaller scale at a pony level. Yeah, right. Um, but you know, it doesn't say a lot of what they, uh, What they think about the future here. And you know, like as you said, they haven't , major League baseball has not figured out NFTs to any extent, and I I don't think that's where it's gonna happen.

[00:15:37] Yeah. So they have a quote in your, we believe digital products will have more value in utility when connected to physical collectibles to create best experience for collectors. As a reminder, this is the group fanatics that acquired tops trading cards for, for half a bill. Uh, so you can see them still.

[00:15:54] Sadly fumbling through the, the Major League Baseball's entry into NFTs in a railway.

[00:16:00] All right. We've got another headline here from the, yeah, about proof. Uh, C e o Kevin Rose, the, the Man Behind the Moon Birds project as well. Um, they have signed a, a deal with Hollywood, U t A, uh, so I was a little surprised by. I was a little surprised by this one. It just, it, it seems like what some of these, uh, kind of caricature type of NFTs have done.

[00:16:27] Um, but you know, they are big and they are, they are able to get deals. So, you know, maybe shouldn't be surprised by, by the route they're taking here. Yeah. Moon birds have kind of come down floor price 8.5 as of, uh, recording this, like, there was like a little bit of bump, I think. with that announcement there.

[00:16:46] Um, it got almost back up to 10. It was down at seven. So, you know, you, you have these like news runs, but a re a regression back to the previous, which that's what we classically saw with like, hey, sell the news moments that we'd be like, you know, win, update, win, update, all the, always in discord. And, uh, the underlying value isn't there.

[00:17:06] Community isn't holding, like, I, I, it's like sort of, you know, bumps along the bottom. I mean, nothing. Shake a stick out. You're still at eight AbbVie. It's pretty good. Yeah. Yeah, exactly. But you know, it is, it's a long ways from where it was at 30 plus

[00:17:21] all we've got another. Another scam cuz you know, it's NFTs. Uh, this one's involving Logan Paul . Uh, I don't know. This is no shocker here that he's involved in a scam, at least not to me. But this one is, I don't know. This was a game called Crypto Zoo that they've sold millions of, millions of dollars worth of NFTs.

[00:17:41] The, there is no game to be played. Uh, this was, let's, uh, let's see. The scam was investigated by, let's say, KA. Cilla, uh, is the, the YouTuber's name. Um, Logan Paul then was threatening him with a lawsuit and then also inviting him on his podcast. Um, you know, it sounds like he's now blaming the developers that he hired, which, you know, for some reason he thinks isn't his responsibility.

[00:18:10] I'm not sure. But you know what wouldn't be another podcast, uh, another podcast episode without talking about Apod. NFT scam, right? Yeah, I think there's the sort of hype and promise of we're going to build the next great game, which is a lot easier to say than do, and I, I think it's, yeah, I think it's tough.

[00:18:30] I don't know enough details here, but the, you know, the, the details that I did were questionable. Yeah, I can look. Probably shouldn't just believe, I mean, we're way past what somebody would jump into it, something like that. But you know, maybe we shouldn't have just believed that he was gonna build the next or the killer N F T game.

[00:18:52] But, you know, we all thought that everything was gonna just work out as, as the founder said at the time. Right. ? Yeah. This is a pretty impressive fall.

[00:19:03] All right. We've got a, an NFT project from Manchester United, the soccer team in, uh, in England. Uh, they have been accused of, Of ripping off the artist. I, I don't actually know how to say the, the name. Des Des Lare, and it's d e s l u c r e c e. It'll be in our, uh, notes of course, but , it is, man, the, the resemblance is quite striking.

[00:19:31] They are super similar, pretty obvious that they were, uh, influenced here and. Not a great look for ferment. And United Believe has already had some, uh, some quite a bit of backlash to the idea that they were doing NFTs from their fans, uh, to begin with. Oh, that's, yeah, that's, that's brutal. I mean, it's this sort of black, red skull with white, and they're, yeah, they're pretty darn close.

[00:19:58] Uh, looks like they went with the Tezos, um, Tezos platform for Manchester United, which is interest. Yeah, so there's that all you have that . Uh, alright. And then, uh, let's see. Last text, last headline I've got here. I cut out quite a few of the , the not so interesting ones, but I thought this was somewhat interesting.

[00:20:19] N F T N Y C coming up this year in April. They, they seem to change that every year to really just throw people off. Um, ape Fest will not be holding their own event at the same time. Um, you know, in the past they have held it at the same, same week as the event, not as an official part of the event. So this headline here that I'm already reading is, you know, somewhat off base.

[00:20:41] They're severing ties. I'm not sure that there was an official tie, but I do think that we've, we're seeing a lot of people kind of maybe move beyond N F T N yc, which. I don't know, I think is somewhat struggling for what is the actual event and what are people coming there for versus are people coming versus just the outside events that that happen to be in New York.

[00:21:02] Yeah. It seems like they just weren't ready to do it early enough based on the, you know, tweets that I'm reading here, saying that like they wanted to do it later in the year and export new locations. That could, that could mean many different things, but you know, maybe this is not the time they want to start celebrating.

[00:21:19] Maybe they wanna wait a, I don't know, for a couple lawsuits to shake out or news pieces, , hey, that could be, you know, get solved. Right. Well that could be a real long time then. Later, later date. Yeah. I mean, we could get into all the lawsuit stuff. The, it's, it's hard to keep track of what's going on with you getting their lawsuits though,

[00:21:38] Yeah, I feel like that's an episode all its own, but also one. I, I'm just not that interested in ultimately, although it is a dominant four still, if you're looking at the top 10, you know, crypto projects right now, like the fact that three of them are essentially, uh, yuga is, you know, quite, quite impressive.

[00:22:00] Four. Yeah. Crypto punks. Yeah. Five. Geez, bored. Eight Yacht Club. Mutate Yacht Club are one and two. Uh, bored. Eight. Kennel club number five, crypto punks. Seven. Other deed nine, like wow. Okay. Other deed. I was gonna say, there's no way mee bits are on the top. 10 . Oh, poor mee bits. Ooh, no, you gotta, you gotta go down the ways.

[00:22:25] I haven't checked the floor price of me bits in a while. I'm kind of curious now. Here we go. Rabbit hole. I would guess 0.5. Oh, I'm gonna get higher than that. 3.85. Oh gosh. I was way off. How was I so wrong? 3.85. Oops. That's, that's impressive. Yeah. Huh. Good for them. . Yeah, right. Glad I sold mine at two and a half.

[00:22:54] Whatever. Add it to the list. It was when was more, and I'm sure you immediately got that us. That's true. I immediately pull, I did something very safe with it. I definitely didn't throw it away on dog coin. Dog coin ponies. I actually threw away. Yeah. There's offers on these, huh? Market Market is stronger than I would've guessed.

[00:23:19] All right. There you go. That's what I get for making fun of it. All right. The T draft season platforms compete for projects this. Interesting cuz at first I thought in my mind the narrative was around with regard to Utes, uh, leaving Solana and Degos I think as well, right? Ts and Degos leaving Solana for Polygon. I was like, you know, sort of dancing on the sort of Solana sex train, which it does.

[00:23:47] Um, to be clear. Uh, but I thought it was of their own position to move, but it was not what actually hap why did they do this? Got paid. Ah, 3 million. Okay. . So I see 3 million relocation fee, I guess right from, uh, leave Solana head to Polygon. And I think we're maybe seeing how Polygon, uh, polygons, business dev works and why they're so successful.

[00:24:15] Um, yeah. Right. So what does this mean? Incentives? ? Yeah. Use that foundation money. Like, oh, you get a grant . Okay, great. Uh, you know, with regard to what this means, I think it's interesting because if projects are suddenly, and labs are suddenly able to create a breakaway sensation, or some sort of momentum on, we'll call it a, a tier two or a less than chain.

[00:24:49] They may be able to run this play going forward saying like, Hey, uh, why not go to the highest bidder? And I don't think, according to some reports that Polygon was the highest bidder. I think Avalanche was also. Looking for their business with a bid and um, maybe another, but uh, the move to, I heard that's interesting.

[00:25:11] Um, yeah, but I think they weren't the only weapon Polygon, the only bidder, polygon does seem to have more. Um, maybe more legitimacy among, uh, among the crypto or N f T crowd? I would say, I mean, for, for N F T networks, I, I think Polygon is taken pretty seriously by most, um, most Ethereum N F T holders, uh, you know, since it is just that layer two and gets the cheap fees and yeah, with that money, it, uh, It's, it'd be hard to pass that up when you've got the, the issues that, that that plague Solana.

[00:25:48] Yeah. Look, if your platform's going down every month and your coin is being sort of shielded and manipulated by the second coming Bernie Madoff, like there's a lot of tough headlines there, right? Um, and it's maybe unfair, uh, some look, it's maybe unfair to say that a Solana simply. , a scam artist used that platform to sort of like burnish their reputation and sort of buy into it and try to manipulate the price that that's not their fault really.

[00:26:17] But the truth is that there isn't, there's some guilt by association assumed in some of these, uh, headline articles and titles. So I wouldn't be surprised if they were trying to sort of survive beyond that. You. D D labs based in Los Angeles. They've had just with Utes, I think a total volume of 2.7 million if I'm reading the analytics properly, which, you know, like, look, volume on platform, volume on platform actually will return value.

[00:26:45] So if people continue to, uh, trade these, maybe you can answer this question for me if, you know, like, is it like what is involved? Are they going to. Create some sort of burn transfer mechanism because you can't just yank this off of people's wallets and move it over. Can you, you can't just be like, ta-da, you're on polygon.

[00:27:08] Like you can't, I mean, that elegantly, right, right. I mean, they definitely can. You don't even know. It's not the same address when you're using, when you're going from Solana. It's a polygon. Now, if you're going from Polygon to era, from Ethereum to Polygon or, or optimism or any of these Ethereum based networks, you'd have the same address.

[00:27:28] But with this, it's a new, it's a new wallet address. There's no way to just simply airdrop it. It's got to be some sort of claim. Um, I imagine. You'll, you know, have to claim it and then bridge over to the new network. Um, that is interesting though, you imagine, um, that not everyone's going to do that, you know, , it's, uh, you know, people pay a lot of attention and there are also people, I'm not saying that, you know, that, um, you should necessarily.

[00:27:56] What do we say to buy and hold for something? You know, is it really expecting that people are paying attention all the time to, to these things? And you know, I'm sure there will be opportunities, but you know, it'll be interesting to see how many actually make it over. Um, there's been talk in the past about projects like, like crypto punks and, you know, obviously old project people really didn't know the value of these things, um, at the time and.

[00:28:17] you know, how many of those are, are, are, are missing completely. You know, in something like this you'll be able to see a little bit better. But even with these youth projects, I mean, it came out a while ago and there were a lot of people getting into Solana because. Somewhat because they felt like they missed out on Ethereum.

[00:28:30] So I think you'll have a lot of people that maybe didn't , um, keep track of their wallets very well, or, or wallet security. And, uh, I imagine that not all of those will, um, make their way over to Polygon if it does require actually actual action on the, the holder part, which I can't imagine it would work any other way.

[00:28:49] I have a weird question for you and I have no way to. If I were to create a Venn challenge accepted , if I were to create a Venn diagram of Solana wallet holders and Ethereum holders, right? Like people that had one and not the other, like, what do you think? Do you think like one has more of the other, or do you think that there are like Republicans and Democrats?

[00:29:16] It's like, well, I'll never vote across the aisle. I'm also. or do you think like if you're a DJ you just are popping around with different wallets in different places? I mean, to be honest, it's probably a pretty big crossover. I, I think we, we know that the ecosystem just isn't, it's almost just not big enough to, to support all of these different, unique.

[00:29:38] Ecosystems on their own. I mean, I think there's, there's probably a, a good amount of p fp Ethereum collectors that, that I think are more likely to be on Solana. I think our box collectors maybe are more likely to be on Tezos. Um, that would be my , that's what I would guess. I don't know how you'd, how you'd go about trying to.

[00:30:04] Trying to really get numbers on those since they are, you know, you can't really tie two separate wallets right to the other, you know? Yeah. Until bridging becomes a different thing, you could probably begin to do that. But yeah, it's, um, it's certainly a little messy, uh, But it'll be an interesting project.

[00:30:23] Look, I'm interested in, in that once it moves to the Ethereum network a lot more, uh, because frankly, the base currency, the, the base currency has always been one of our. Jesus is then denominated in, uh, we and Eateth, which is Yeah, which would be down less than so long. don't lose, here's the thing, you'll lose money at a slower rate, and that's what I'm here.

[00:30:48] That's, that's what this is about. That's losing money longer, less over longer periods of time. It's science. , this is a good time to disclose that this is not financial advice. None of this should be taken. It is interesting. So what do you think, um, uh, guess the Ute floor in eth, I just calculated it. What do you think the Ute floor in, uh, let's see.

[00:31:15] I. I don't know, the u I don't know Ute at all. I think. Well, with D gods I think is the more expensive collection. Is that, that sounds right to me. Correct. Um, I don't know. I guess I'll say two E. Wow. You were shockingly close. 1.7. Um, that's impressive. All right. Nice. That is, that is press impress cause we've brought it up.

[00:31:36] We'll go with the floor. Uh oh, gosh. Yeah. So I'll give you, I'll give you a chance at, and you can play at home right now. I'll guess that price. I always like to guess that price. All right. So I have, uh, the D gods, like, what do you think the eth price is on that floor? Okay. How about, um, about six. Wow. Well, no tricking you today.

[00:31:58] Uh, 6.69. I did not make that up. Oh, sulfur five 50. Oh, how could I not put that in there? I, if you had spiked it, I would've been, you would've . So I wanted to mention something. This, I don't, don't know what's going on with this, but this bons. Collection, have you heard of this? B O N K Z. I'm sure if you've been paying attention you, you may have heard about this one, but it is a collection on Solana that's getting all sorts of attention.

[00:32:22] Now. I see that they've got over one point. Is this crypto cryptos? Is that it? I possibly, let's see, um, no 1.6 million in sales. Oh man, they're flying right now. Um, but yeah, so there's, you know, there are still, this looks like it's a pretty reveal. Um, Collection right now. So, you know, there's still activity over there.

[00:32:47] That's a new salon collection that just launched. And, uh, you know, it's, you watch one leave and, you know, maybe it's in a way. Maybe it's making an opportunity for somebody else to step in. You know, I, I'm not a big salon fan. Mm-hmm. , and I don't think that it's, I don't think it's heading, you know, maybe it heads to zero eventually.

[00:33:05] I don't think that we're there at this point. I think there's still. Uh, there's, there's still people there that wanna make something of it, and I think you'll at least see some , some fight, uh, from those that are are working on the chain. The fundamental truth is that the, uh, The inflationary element of Solana is exceeding the rate of transaction value generated.

[00:33:29] Uh, it just, you know, it doesn't, it doesn't math out for the holders that are gonna get vested, uh, vesting schedules that show up where they can then dump their so salon on the public market. And then on top of that, it's like inflating, uh, at the same time. And so you also see that like when Disney, when.

[00:33:51] Nike when Starbucks, when these folks are choosing platforms to build on, like into the future. Um, I don't see Solana's name coming up very often.

[00:34:00] No, I don't either. And you know, I think that is, I don't, I think that's a big reason of why Polygon went for something like this was Ben in the discussions for sort of the business infrastructure, you know, business infrastructure, NFTs, and, you know, that is one thing, but it doesn't get, doesn't really get consumers looking at, you know, working on the network, bridging assets over and on it.

[00:34:23] And I think this is a, it's a different, Different way to go about it gets different attention, gets people actually on that chain and, and active. Yeah, I, you know, go ahead. I was surprised not to see more activity on, uh, on Utes in terms of, I was just like looking at the analytics and I didn't see a big price bump.

[00:34:41] It doesn't seem to have really moved it that much. And here, here's what I know, it's like per our last conversation of Yuga taking up the top five of the 10, , there's just an inevitability that you can't stay on the top forever. It just doesn't work that way, you know? Is this shift a signal that they're able to, you know, potentially build that?

[00:35:12] Is this D-lab? I don't know very much about them at all, but heck, if you're thriving in a bear market like this, is this something to look at? , you gotta see how the, the transition goes. Oh, you mean as far as like a project to follow? Um, yeah, like, yeah. I don't, I mean, that's a good question. You know, is this, is this, you know, is this the, uh, the, by the news or, or by the news point where it's up high and, you know, I see that there's a decent amount of volume.

[00:35:41] Um, yeah. You know, does it become a, I mean, what is, what's the biggest NFT collection on poly?

[00:35:49] I can probably figure it out. Um, just a note. You know, there's just not, I don't think there's like one collection that you associate it with it, whereas, you know, before I, I, I think that you could have said like Degos and, and Used were definitely the biggest projects on Solana and you know, you know, we know that we know the big ones on Ethereum and I think this is.

[00:36:10] You know, it's, it's a bit of just having a name of a big collection. And maybe it does, you know, I, I'm not betting against it. I'm not, certainly not jumping into this . No. Especially, I also wanna, I wanna backtrack a little bit. Like when you look at Utes, like the actual art of it, it is a pathetic board. A knockoff.

[00:36:32] Yeah. I think is my, is my hot take on it. . Um, they're just, it's fuzzier and less. Right. I mean, it was something that we, it's not good. When we looked at the Solana Network a while ago that the, I don't know, it feels a little stuck in, in the, the, the p fp era of, you know, just make any animal, make 10,000 of any animal and, and it can be successful if you have a Discorded Promise merch and whatever.

[00:37:00] Um, and it's. , you know, I don't know. It's, it's, I don't know enough about it to, to talk about the other aspects of it, but, you know, based on face value, I'm, I'm with you. Yeah. So, , I think in general. What else might be targeted? It, it's interesting to think that other projects on, on other platforms might be shopping around to the folks that still have money, which are, you know, apparently like the kind of avalanches and, uh, avalanche polygons and arbitrary on my bed probably would've, you know, been in the mix.

[00:37:33] Mm-hmm. , uh, saying like, how do we get and entice, uh, developers to move into it? Uh, but it's interesting. . Yeah, it definitely is. I mean, it's not, I didn't really thought about that aspect and I was definitely under the same, um, impression as you at first that it was more or organic choice versus a, you know, poaching by, by Polygon.

[00:37:54] Um, I'm sure that there are others looking at this if they hadn't been thinking about it before and now thinking, Ooh, that that's a pretty good method. Hey, that we, we still have, we still have money and a lot of others don't, so maybe we should use that in a different way. Yeah, pulling projects that are well teams that are building projects, they're still out there.

[00:38:15] Yeah. I mean, I see more from Solana even because that network's been so hurt and you know, there has been a lot of talk about the, the number of, of, you know, developers that are on the network. So Yeah, I I could see it there, I could see it from other networks. I think there's, I think we'll see some other alt chains, um, face problems or already facing problems.

[00:38:35] There's, there's a lot that you don't hear anything about, and. You know, at least we're hearing something about Solana. There's some that you just aren't hearing anything about. So I think you'll start seeing some attrition from those as well. And yeah, there, there may be some, some, some bidding words going on among some of these other chains.

[00:38:53] Well, I'm still rooting for our moon Cats . Oh boy. Oh boy. We called the bottom when they went. When they went away. Pond. Pond. Where will rise again? It'll happen. Moon Cats won't go below that threshold of, uh, 0.3 though. It's really funny, man. What will happen to the Moon Cats you think? Uh, you, you still think Kevin Rose might, might pick 'em up?

[00:39:18] I just, I think they're just an awesome, uh, I think they're an awesome long-term like Relic. Um, I've, I've been, I've fallen for the Relic in the past, but this of, of all of them has been the one that like. Kind of has, has actually like held and not gone to absolute zero. Like I'll, I'll just say, what was it, the stupid crypto bots that I thought the world of like two years ago being like, oh my gosh, it was the first on game, whatever.

[00:39:45] Like, yeah, not very much there. Now how about this? What if we could race our moon cats? Then , we put 'em in the state,

[00:39:59] Yeah. Now you have my attention. Cats Project. Huh? . Now you have my attention. Yeah. Moon Cats. They're hanging out at a four floor. Good job. Moon Cats. Oh yeah. Huh? That's, yeah, that's a little, they've moved up a bit. Yeah, I mean, as soon as I, I'll, I'll let, I'll let the group know. I only have two of 'em. Maybe I'll get another and force the price down so you all can afford 'em.

[00:40:25] Oh man. Is that helpful?

[00:40:27] Uh, well, yeah, I think that's, I think that's about it for these, the, the, the project poaching. Um, you know, I think I, is this a prediction or you think we're gonna see more of this this year? George Chain jumpers. I think that I'll put that, uh, I'll, I'm gonna claim this one, uh, chain. All right. Do it. Chain jumping.

[00:40:48] Yeah. I like that. That's a good one. Um, some warm, yeah, it'll be, It won't be the only one of, you know, there are good projects out there that are caught on , on bad chains. Um, and then there's things like this too. So, um, you know, take that for , however you wanna take it. . Cool. All right, well, I'll see you out there.

[00:41:13] All right. Bye George. Bye.