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      WEN are the masses coming to NFTs? | Project: Peacefall

      1. Leak Reveals Biden's Crypto Plans—Sending The Price Of Bitcoin, Ethereum, BNB, Solana, Cardano, XRP, Terra's Luna And Avalanche Higher
      2. NFT Marketplaces from all types of companies
      Affordable project Theme discussion

       


      Transcript:

      [00:00:00] Today on all about affordable NFTs. When everyone going to come talking about whether or not we see the rush of people coming, or the trickle of people coming in the world of NFTs, as we jump into it, Andrew, what are we seeing in the.

      [00:00:20] Yeah. Maybe along those lines of when is it from coming? It's been a little quiet in NFT world.

      [00:00:26] In terms of the volume lately, looking at the trends we are, getting it to some are getting back some pretty low points we haven't seen in awhile. So both in terms of the number of transactions and the volume out there with that being said, it's a long ways or a whole lot more volume than we saw a year ago.

      [00:00:44] When you put it in that perspective, we are up up a long ways from there. And we'll get into more of the the discussion of, where we think it may be going or the trends that we see anyway, going on in this conversation later on, but in the news we've got we've got the big executive order that came out this week.

      [00:01:01] Have you had a chance to dig into that at all? George.

      [00:01:04] I basically heard that there was a bit of a slip and accidental published before it was time that guess what the internet caught on the white house gov site, where, there was a statement put out there about like how they were going to take a measured response to crypto and it was immediately taken down, but it was like this weird.

      [00:01:22] Oops, we didn't mean to say it, but that's what we were going to say, but now we're going to say

      [00:01:25] it. Yeah. I guess the cat was out of the bag. That was what was coming out. So it wasn't it wasn't like it was incorrect information, but it was leaked a little early and, believe it or not there a lot of eyes and maybe bots watching the the white house site.

      [00:01:39] So that got out quickly. There's. I think we were in fear that there was going to be a lot of crackdown, a lot of regulations coming. And I think this is pretty positive for the the crypto and NFD community.

      [00:01:51] I think this is tremendous, the positive. And you saw the, and initially crypto markets respond pretty aggressively in the positive side being like, oh, okay.

      [00:02:02] There's no immediate. And this, this tends to mean that if we can predict the near future, we can continue to proceed in a reasonable fashion in the way we were. So this is, I thought, fantastic news coming off the tails of where I felt like we were the other week, looking down the barrel of what is the sec poking around and about.

      [00:02:20] New blind rules about obviously some of that's still out there, but overall you also see the U S government starting to talk about a plan to make a committee, to make a plan, to make a thing for a potential crypto dollar which, it's not exactly about to drop tomorrow, but there is adoption there's conversation and there's comprehension that's coming with it.

      [00:02:40] And I think that's good.

      [00:02:42] Yeah, certainly good to see a, welcoming attitude towards crypto. A lot of people were fearful that it was just going to be a, almost an all-out regulation battle that would really hurt the industry. And this this provides a lot of certainty and I'd say a lot of optimism for the for crypto in general.

      [00:02:59] I wonder, I guess maybe some of it is related, but there has been over 80 million donated to directly by a crypto to Ukraine, Ukrainian attract wallets over this period of time. So it was like a way of submitting, like literal dollars, that far outstrips what the UN has sent or what NATO has sent.

      [00:03:18] And, there is certain power there on the other side of that crypto. I was, oh, we're hearing some of the concerns of, Elizabeth Warren using narratives like, oh, Russia is going to switch to Bitcoin. Like they aren't, that is not a thing because they turned off swift. And so I wasn't sure which narrative was like louder in the halls of the great white house, but it seems like again, good news for what we can tell from that and leaked enough.

      [00:03:48] Yeah, absolutely. I think there's gonna be a lot more crypto in politics coming into play. I certainly don't know enough about it at this point, but there's a lot more that's going to happen. And I think it's going to become a much more prominent issue. But moving on to some other news, we seem to have NFT marketplaces popping up all over the place.

      [00:04:06] We've talked about how. The NFT marketplace is really are the whole ecosystem really dominated by open. See that's where most of the transactions happen. We do see some other marketplaces out there. Now. It seems that all sorts of other companies, whether they're crypto native or even web native are at least announcing that they're going to have their own NFG marketplaces.

      [00:04:30] I'm sure they see how much open sea is doing. And are very excited to get into that themselves. We've got Adobe. They're going to be they've got a new partnership with polygon where their platform for designers will allow people to mint directly from the platform. We've got SoftBank coming in and we nailed it that they don't do things small.

      [00:04:51] So they've got an NFT mall plan. I don't know exactly what that means. There's not a lot of details, but It is something when SoftBank decides to come in, they do tend to throw a lot of money around

      [00:05:02] and a hot new update from the Coinbase NFT marketplace. It's coming soon as it has been for all the months.

      [00:05:13] So still I thought that was going to be in there and I was looking at the list you made. And I was like, oh no. Oh,

      [00:05:17] it's all these other things. And I don't really believe the money. These are going to be much of anything. We've got Limewire coming back. I don't know. There's said that they're going to fix a fixed fees for content creators.

      [00:05:28] This is from. The original or one of the original brand. I don't know why that they would, they think that they're going to be better than

      [00:05:37] we may have one international audiences and also young audiences that don't know what Limewire is. So why is that?

      [00:05:45] Oh man. Limewire was one of the original pirating softwares for pirating music, sharing music.

      [00:05:51] But we know it was mostly pirating music back. It was one of the ones that came out shortly after Napster. I believe, look up what Napster was. Napster was somehow able for him to transition into a a real company. I think they still have some subscriptions for music service, but Limewire, I don't believe ever had much of anything.

      [00:06:07] And for some reason, the brand is being revised. As an attempt to be a music and Ft marketplace some other ones out there and get the USFL. This is a new league launching, I believe this spring, or maybe next spring. I don't know why they have to have an NF and NFG marketplace before they've even launched a league.

      [00:06:27] But apparently they seem to think that's necessary. Then we've got recur which actually has raised 150 million in the past couple months they are launching an NFT marketplace for collegiate sports. And I do think that's a. That's interesting because collegiate athletes have just recently been given the ability to to how to monetize on their likeness, that they have their rights, I believe the other yeah.

      [00:06:53] So they don't have to give all

      [00:06:54] their money to EA games and the NCAA.

      [00:06:57] So it is interesting that there, there could be an opportunity there. I think that's that one is one of the more interesting ones that is really cool, because that would be dog rookie card. You want to get the like LeBron

      [00:07:07] James rookie card.

      [00:07:08] I guess when

      [00:07:09] that would've been, that would've been maybe in high school, he could have done that. And all

      [00:07:12] of our shows like immediately the wrong guy Steph Curry,

      [00:07:17] he played in college. He went to NC state. Yeah. You could ask your NCS. I'm sure he played in high school as well. It's unlikely to just walk down in college,

      [00:07:26] hypothetically like that.

      [00:07:28] That's fun. Like you get and hold somebody. And like in, later in their career it suddenly becomes a thing. Okay. I was about to just turn on my nose. I'm going to check that one out.

      [00:07:37] Going through it, that's the one that I think may be somewhat interesting. I think there's, a lot of money coming into it.

      [00:07:41] I don't think that there's necessarily going to, I think that a lot of these projects may. Meth may never see the light of day to begin with, but they like putting these up PR announcements out there. It could be PR out there. Yeah. It could be taking their own company by surprise at times, all right. Who's going to be in charge of that now that we've put that out there, we'll see what happens. I think that most of them will not come to fruition,

      [00:08:03] safe bet, but interesting, more onboarding and alrighty, affordable project. You ready?

      [00:08:10] What do we have here, George? So I dropped this

      [00:08:13] into discord and it hasn't officially come out yet.

      [00:08:18] And there's no public mint. The men's is going to be announced in March. We are firmly in March as we're talking to you here. I'm pretty sure I saw mint note of around 0.1 somewhere, but I'm not sure. It is called peaceful dot X, Y, Z. And what I heard about it from a thread in song a day about, and basically this is created by the artist who did double dragon, so old NES Nintendo entertainment system.

      [00:08:48] The artists that did basically all of that Koji. Did all of these like little characters. So they got that like pixel look, but like the Nintendo pixel look that gives you from nostalgia in it and this like little fighter activity mode. So there are going to be a game that's going to be played with a are gonna drop 8,100 challengers.

      [00:09:11] They're calling them. And essentially it's like a little bit like, as I understand, like chain face arena, if you remember that one. You enter in your chain face and like it competes with other things. And then it gets scars. Except you're not going to fully lose it like chain based arena. It'll be advancing the imagery of the game.

      [00:09:27] So they actually have sort of example, evolutions of if you win your battle based on, if you chose the right attack to enter it into a battle it seems like there's gonna be a few rounds and it's going to have a finite period of time, at least for this first one. And there is a a legit agency behind it.

      [00:09:46] So they're definitely doxed. They know that they're not affiliated with double dragon or any S to make that clear. And yeah, I don't know. What do you see?

      [00:09:57] I'm looking at the site right now, and I noticed that the artist is actually the original double dragon artist. So double dragon. I remember that game from from the NES.

      [00:10:07] That's pretty cool if they actually have that artist involved. I love the art on this end, the animation on these little characters when you load the the the website here is pretty cool too. Curious when this actually watches, not a lot of details on the site actually. Oh, there's one.

      [00:10:22] Yeah. Normal stuff, nothing clickable on this site. A little surprising things that are underlined.

      [00:10:30] Let's be clear.

      [00:10:31] Yes. I do see a couple of things. There are a couple of, there's a double dragon Wikipedia link for those that are unfamiliar with the S with the game let's see that came out in

      [00:10:42] Four or something like that. So yeah, maybe, not on all of our listeners per view, but it's an interesting project. I'm curious to see why some of these products, it seems like there's a handful of projects being delayed right now and, maybe due to some of the market conditions.

      [00:11:00] But also I'm hoping that it's a little bit more of a. Teams being more prepared to launch with a product ready to go, as opposed to maybe launching and then delaying things over and over as we've seen from some projects. And I can read village is one that we've certainly talked about a handful of times and we're still awaiting things there.

      [00:11:19] I'm going to look into this more and I'm excited that they aren't rushing things along too fast and are taking their time a little before. And hopefully we'll get this minting and. Yeah, they

      [00:11:30] noted that they changed the name to piece fall actually after Russia invaded because their previous name had something like a war title to it.

      [00:11:38] And they're just like, we're not doing it. Oh, Warren peace, a reference. And there's yeah, we're not doing this. So they changed names. So they're probably going through and change another assets to the drop. So they're trying to be I guess culturally sensitive, the current discord only has 845 members.

      [00:11:54] You'll be getting one of these, if you want one of these, as of right now and we've got, again, the white list, a link, I can't find it on their thing, but it's an artist scored. So come on over join our discord. We'll find that say hi. All right. Onto the thing.

      [00:12:11] On Dorothy, George, what do we have here?

      [00:12:14] Okay. When is everyone going to come and play with the NFTs? The question being, it felt like I will say personally thought that the super bowl was going to be this huge mad rush. My joke about Coinbase NFT market, like I was making actual decisions based on that. I think, it was like, oh, here's some like projects that are like, Prime for, it might be on the list.

      [00:12:39] I was looking at what was going to get listed on Coinbase entity. I was like making decisions about it and it, hasn't come. And even when it comes, here's the thing being the Coinbase entity marketplace. I don't think there's ever going to be a

      [00:12:54] just flood of people that are just

      [00:12:56] like, oh my gosh, it's here.

      [00:12:58] I think this is just a slow burn over time. Do you agree?

      [00:13:02] I think that we're, I think in general, or we see big onboarding periods that are. Mass adoption at the tiny, somewhat mass adoption at the time, my ambition and say mass adoption, but a big adoption events. And otherwise it's a slow trickle, and I think that's generally going to be the base of things.

      [00:13:19] I could still see Coinbase coming in. I think that's going to bring a lot more activity, when looking at the number of active wallets over time, we really peaked let's see, in. It's really just February of this year. And it's so far beyond what we were doing last year.

      [00:13:35] But there are really two times that we saw huge adoption. It was from, it was really in August of last year. We nearly tripled the number of people that were a number of active wallets in the time. Maybe even quadrupled, if I'm looking at it, went from maybe 10,000 to over. Over 45,000 at that time active wallets.

      [00:13:54] And then, there was a somewhat low in the fall. And then again a huge number back of wallets in January and this one ran maybe more through through the end or through mid February. And that really took us from about 50 ish thousand up to Let's see maybe around 80,000 active wallets, we're now at this point, we're down to maybe 55,000 or so active wallets on a daily basis.

      [00:14:19] But that's still a whole lot more than we were at a year ago when we're talking about maybe 5,000. So we've got, 10 X in that time, but there were really two periods that saw most of that growth. I think that's probably going to be how it goes. We're going to have big events that get a lot of attention that bring more people in.

      [00:14:38] I think Coinbase is still likely to be one. I don't know why it's taking so long, perhaps even the executive order will help provide some clarity for them. Maybe that was holding them up somewhat. I hope that we start that soon. And I could see that being a pretty big another big adoption phase.

      [00:14:55] Yeah. According to pew research, they released that in in November we talked about it, but 16% of Americans say they have crypto, right? They have crypto holdings in some way, shape or form like 16% is far from the majority. And that's just the United States. Which you'd imagine being a bit of an early adopter on this, as well as having disposable income to invest in this and based on other, like other things that I'm looking at.

      [00:15:23] And says that only 20% of Americans are familiar with NFTs according to this report. And other surveys are only showing like 4.6% of men. And 1.2% of women stating in certain surveys from marketplace fairness that they actually own in an NST. This is real small. And I kept thinking that it would be.

      [00:15:44] A bunch of people would realize how fun this thing is. And come in at, like it touches gambling markets, it touches gaming markets, it touches art markets. It touches community markets. It touches attendance of events. Be it sporting or music. It's it just, I thought every time it touched a new market, it would bring in a larger percentage of folks.

      [00:16:06] I, I feel and think that the onward. The pathways of moving Fiat to actual usable currency inside of a wallet that you own and control is hard and confusing. And I'll tell you what that friction until that is solved. That is the thing that will keep this at a trickle.

      [00:16:30] Yeah, I agree that the adoption is definitely slowed by.

      [00:16:34] Yeah, how difficult is to manage all this right now? I think there's going to be a lot of improvements in that area. We're definitely seeing a lot of, I've noticed a lot of investment happening in the NFT space, a lot of wallet investments, other than a couple of big announcements lately.

      [00:16:49] In general, I noticed that there's a lot of. Investment happening which means people are building. And I think that it's going to become easier and easier to onboard people when these. When these on-ramps become easier and you don't necessarily have to have all of this technical knowledge nor have to take on all of the risk.

      [00:17:06] That's out there. We've talked about all of the scams and the risks and all the just general user errors that are pretty, relatively easy at this point to run into. And I think that we're going to see a lot of solutions for these problems that will make. Make it a lot safer for people to come into the space.

      [00:17:23] Right now, for example, on Venmo an app that lets you do payment to friends, you can technically buy for zero transaction fees, cryptocurrency. Now, whether or not you can send it and move it to wallets. That's a thing, but you're waiting for groups like PayPal and square and Braintree, these API APIs that would allow any project to allow people to honor.

      [00:17:45] Themselves on a local project and figure out the wallet from there or have that ability. I think that's, that's going to be a big key for making part of this transition, but the problem is until that happens, I have. Feeling that I had, I used to play. I used to play online poker. And one of the things that happened, this is like a couple of decades ago.

      [00:18:07] One of the things that happened is that over time more and more good players kept coming in to go after the easy money, but soon, very quickly the rooms got harder and harder to win it because if you play against good players, you lose. The game, actually, when you're playing a cash game of poker is to find people that are not good fish, if you will.

      [00:18:30] And I'm getting that feeling a little bit where there's not as many projects, just like randomly pumping and going. And it's more of it's like, all right, it seemed like much more coordinated, tactically done and maybe driven by. Like collective strategy to drive up some of these things, or it's just all hype on one project and then run to this next one.

      [00:18:50] And it's like the one project, as opposed to, it felt a lot easier to throw a dart and win. I'll say six month.

      [00:18:57] Yeah, I do think that the market has changed a lot. We've talked a little bit about how it seems like one or two projects will get all of the attention and it just rotates around a handful of projects or maybe not even a handful.

      [00:19:10] It rotates onto the next project. And it has been somewhat difficult to find the sustainable projects. So I think the market has changed. I think we're going to need to see a lot more real-world utility. We've talked about how these roadmaps are often rather unsubstantial or don't have a lot to them when it's just merged and maybe a in real life meetup, I, that's not going to sell a lot of people on buying some cartoon some JPEGs for hundreds or thousands of dollars.

      [00:19:40] I think we're going to need to see. Projects that are making use of these. In other ways, we've talked about some projects that use NFTs as the key to the software. You can get access to it by holding the NFT. We've talked about how some talked about some in rural world adoption is happening.

      [00:19:57] I think we need to see more of that. We are also seeing, as we talked about earlier in this episode, a lot of new marketplaces try to pop up. We are seeing a lot of other chains take different activity. When I was going through the the number of active wallets before it is important to remember that we're not just seeing activity on the Ethereum wallet or on the Ethereum chain.

      [00:20:18] And that was essentially the only place where NFTs were a year ago. We've seen all sorts of. James get an F T activity. And we've seen avalanche, we've seen, probably gone. We've seen optimism, a lot of activity happening on all the other chains and it's not all being accounted for. So I think some of this is that it's dispersing a lot and we're not going to be able to count this equate the same way or measure it in the same way that we that we can with the Ethereum activity.

      [00:20:46] That being said, I think we're, it's still a, it's still probably a good measure of the marketplace as a whole at this point maybe that changes at some point when a law, when most NFT activity moves to a layer two.

      [00:20:59] Yeah. You're just playing against a smarter. And some respects.

      [00:21:04] So maybe the second order effect, is that more of these? There's only so many times that someone's going to launch another 10,000 PFP with no backing, no real artist or art and expect to win. I think you'll see the it's just, supply demand of you show better ideas to show better utility.

      [00:21:25] And so I think we're in that phase. Guess what if the market on the buy side is not seeing that kind of utility and that value, because you're talking to the same, what 360,000 people. And we like seeing it now, like you're not able to fool that same group of people continuously with derivative after derivative.

      [00:21:44] And there's a group of people that have been burned a number of times at this point. I think if you have here's what. If you have been collecting for at least six months, you have been burned or rubbed once. Agreed.

      [00:21:57] At least once I think it's more likely than it's more than,

      [00:22:03] oh boy, that's a tough one. That's a good point though. I think the market has matured a lot and is more more skeptical of some of these projects. We saw a lot of scam activity among projects and a lot more. There's a lot more people working on calling these out. And I think people are. Somewhat more apprehensive, but also we're knowledgeable about the fact that there are a ton of scams out there and you should not just jump to mint, everything that does slow the momentum though, when people see that.

      [00:22:32] So it changes how things are, how, I don't know how things are going in the marketplace, I would say.

      [00:22:38] Yeah I would I would say it's a weird time in a very different time than one year ago. Jumping on. To it, but I think there's always a, there's always upside also, if your aim is low, so it's easy to onboard at a decent value.

      [00:22:49] I think this game gets weird when Ethereum starts to pump and go up at some point, and then you're like, Ooh, everything is incredibly expensive. If you're not a crypto.

      [00:23:03] Yeah, absolutely. But yeah, gas is extremely low. Now you should maybe get into something you, things you should do if it's going to stay like that.

      [00:23:09] Huh?

      [00:23:09] Teaser next episode. All right, Andrew, you're talking with you. Good team. See out there.