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Theme:  What is a project market cap?



Ethereum core developers suggest tentative dates for The Merge  


Super rough transcript:

[00:00:00] Today on all about affordable NFTs. We're talking about what the project market cap looks like using a fun tool called NFT price, Well, we're getting into it. We crossed a hundred episodes. We officially have done over a hundred episodes and we're coming up on our, our one, one year anniversary.

[00:00:21] I feel like, uh, that's a, that's a big accomplishment. And in NFT years, what. Time seven . Yeah, I feel like we've been in this for, for quite a long time. You know, it is nice looking at some, some NFTs and realizing that they are now long term , uh, gains, you know, not everything is just short term gains and, uh, well, you know, certainly not all gains anyway, but you know, it is nice when the, some of those get into the longer term holds.

[00:00:48] Um, but yeah, it feels like a very long time we've been doing this, George. Yeah. It's, uh, it's been interesting. I was looking back at some of our earlier episodes, also episode idea. We should be like, have we learned anything it's a year later, we'll find out when our, when our anniversary anniversary is and, and go for that.

[00:01:05] But there's some early projects I'm like just laughing at. And I'm like, oh, I remember when I was into that. But you know, just this time, last year we were looking at metaverse stuff. Right. We were like, oh, this kind of seems like a thing. And it was before all the announcement and pieces like that, but getting.

[00:01:20] You know, land, uh, land sales that have gone, like, I'd say like the full circle at this point of beginning, middle, and now, you know, end as we were looking at what was the. And Ft lands. What was it? Ft. Worlds. Those are the ones Ft, worlds. They were well, I mean, they got up over 10 at one point. I think they're bad.

[00:01:37] No, they start like this time last year they were at like 0.1 and I was like, well, this is a joke, cuz I feel like they didn't ask permission at all from Microsoft on what they're building on. And they're on an old version of it didn't matter. The tech didn't matter. But then it does because obviously Microsoft issued that whole like, Hey, uh, you guys can't do that.

[00:01:56] This is, you know, this is our land and you kind of like quasi built on it, unintended and you know, the, the price is taken a, an ax to it. So, yeah, what's, what's kind of amazing. Here is I'm looking at the, uh, the floor price and it's it's 0.85. Um, but we're, do recall that. I believe I actually, uh, got out at 0.7.

[00:02:17] So as much as it's fallen, it's still , it's still above where you were. I thought you sold one above one at one point, but. I don't think I did actually, but you know, um, I don't need to go back and look at it to confirm. It's not like you can find it permanently on the blockchain forever and ever. Yeah.

[00:02:34] Right. yeah. If we're playing that game, I've got, I've got more than mine, uh, fair share of that front, but you know, getting into it, you know, of today, what do you see in the news going on here?

[00:02:44] Oh, my gosh, look open C introduces new stolen item policy. I think this one's in response to, to our, our last episode, I assume that they heard, they felt the rest. They were put on blast by P a N Ft. And you know, they've, they've certainly, uh, they've introduced a new stolen item policy. So I guess now you actually have to file a police report within seven days of the theft.

[00:03:11] Um, and there are more options. For the new buyers to, to get that removed. Um, I tend to see a lot of details on, on what those options are. Um, and then, you know, they basically are still recommending that, uh, people go to another marketplace if, if they are having problems. So, you know, it's, it's something, but, you know, I guess you still get careful don't use a different marketplace.

[00:03:35] Yeah. I mean, I, I guess maybe they should put something in there that you can't, you can't resell a, re-list an item after purchasing it for seven days or something, and you actually wanted to make sure the customers were in the clear when they bought it. But, you know, I don't think that's gonna happen.

[00:03:51] Yeah. It's something, obviously we're, we're moving markets. We have a lot of power. We try to use it responsibly. This is a good first step though. I also noted that, you know, they're, they're, they're seeing that there's like falsified people submitting these transactions. So like, hypothetically, like let's say, you're like, you know, you're frustrated that you sold something and you're like, oh, uh, I was hacked, uh, it was stolen.

[00:04:15] Give it a back. Right? Like you need a police report. You need to have some sort of. Follow on of, uh, of law and repercussion. If you're, if you're faking that, not to say that people, I have no clue what percentage either way is, but they're, they're starting to realize a touch of responsibility in the process, which is important because what's happening now.

[00:04:37] Won't scale. They can't. Yeah, I am. I'm looking forward to seeing some of these police reports though. And, and, you know, just imagining what those conversations will be like. Well, the truth is. You know, like insurance fraud is real filing for fake loss and stolen items like that, that comes with severe consequence, you know, think insurance fraud.

[00:05:01] So, you know, to that end, you know, there is other elements of liability. Like we have homeowner's insurance, we have renters insurance when something gets stolen and resold, like you are able to go to various bodies. So this is like almost even, you know, the start of, especially if you're pulling in the police, the next step is saying like, oh, I potentially could.

[00:05:19] Individual insurance for myself. And they could look at, you know, also the blockchain and also in researching it. Guess what, as smart as we all think we are and like hiding things. If you're not, it's all on the blockchain, you can and will be found if you're dealing to a wallet that you ultimately end up owning and pulling back to yourself.

[00:05:37] So they're, um, you know, it's a road to legitimacy and I think there's a lot of second order thoughts that kind of come from what open C is suggesting here. Yeah, well, I'm glad to see they did something good work, good response to, to, uh, our, our podcast reason to open sea. I know you're listening still on point.

[00:05:58] All right, our next, next headline here. We've got, uh, Reddit, they're migrating their community points, which have been part of the, the system for forever. They're MI migrating these toum Nova. So this is a layer two on Ethereum, um, will be powering their, their community point system. So this is very much moving over to the blockchain.

[00:06:17] You know, we've talked about how things, you know, something like Reddit is very. I kind of already used to this sort of, uh, idea of, of digital ownership. And, uh, here it is. They're, they're moving over. Toum I think this is also interesting because you're seeing web two social move into web three, and they're only doing it on certain, as I understand subreddit, such as the R you know, subreddit cryptocurrency, where the community is kind of ready for this, but you.

[00:06:49] I think you're getting into, how do you make micropayments micro compensation for micro contributions of content to a network that makes money, right? You have a whole bunch of essentially unpaid writers when it comes down to it on social media platforms, putting out general content. And this is the start of saying like, whoa, how would we potentially share some of that value?

[00:07:13] Push it out rather than consolidate. and, you know, I, I think Reddit is, is perfect. Cuz you can divide this by, you know, the, the subreddits, the communities can decide whether or not they wanna compensate the group members or not.

[00:07:29] Yeah. I mean, I, yeah, I mean, we talked about, I think it makes sense. We'll start seeing this power. Other, uh, other point systems are seeing different, uh, layers, par power, other point systems here soon. I think, you know, we've talked about, I think airlines are, are right for this as well. So, uh, I wouldn't be surprised if we see, uh, some big changes or big announcements like this, uh, coming up in the next few months.

[00:07:50] And of course, arbitrary is a layer two on top of Ethereum.

[00:07:54] Uh, speaking of. Companies getting into, uh, crypto and NFTs. We've got Starbucks. I think you had actually mentioned this, but uh, little more information on this. They are, uh, going into NFTs. You'll be able to, uh, earn these by instead of just getting points when you, um, When you, uh, buy at Starbucks, you able to earn actual NFTs, you know, show how, how big of a, a big shot you are at, uh, at Starbucks, I guess.

[00:08:20] Um, you know, it's, it makes sense for them as well. You know, it's, it's a place where people are very used to ordering digitally and, and even earning points and, and, uh, you can definitely see, um, see the use cases here for them. I'm excited. They actually haven't announced which blockchain, but they are definitely gonna be choosing an environmentally sustainable one, cuz it's definitely part of their ethos.

[00:08:43] And also the backlash would be amazing. And there's kind of like a, a rumor baked in here that they're potentially waiting for. Ethereum's merge, which is penciled in for September. To potentially make an announcement. But if I were a betting man, and I am, I would bet polygon. So put it on the list of things that three a is, is predicting and will probably come true.

[00:09:05] I'd go polygon. What would you say? Yeah, I mean, that would be my guess as well. I was actually somewhat surprised that Reddit wasn't on polygon just because they have INED so many, uh, major deals already in have more, uh, real, real world use case or use experience than, um, many of the other layers at this point.

[00:09:24] All right. And, uh, let's see, speaking of, you know, the various Ethereum layers, we've got suggested tentative dates for the merge, the merge is coming. It sounds like we've got, there are two potential dates suggested, looks like it may fall around September 15th. Um, so we will see, um, that was, that will be, let's see the Paris upgrade, uh, the be.

[00:09:48] Upgrade will target September 6th. So this is, this is right around the corner. This is it's real, definitely seeing some, um, uh, some price movement in Ethereum recently, and gotta think that the merge is on people's minds when they are buying.

[00:10:02] So the, what is the recent test network? The final test network, uh, went through successfully as of the other, yes, go girly. I believe it is G O E R L. I, although it's yeah. I wanted you to. Pronounce that . Yeah. Which I mean, Gole, Gole, I, I don't know, you know, it's, uh, I believe it's a German city. Um, so I, with a, in the O is got, got some of those dots over it.

[00:10:28] So, you know, I'm a great successful one, two, it was successful. Absolutely. I mean, it's, uh, you know, since. The summer has been impressive in the development timeline seems like things are going as planned. And, uh, the merge is hasn't been pushed back. It sounds like it's actually been moved up somewhat. Um, so, you know, as we're recording this, we're in mid August and, uh, you know, we're about a month away.

[00:10:52] It's exciting. You know, I think it's, it's hard to say what has been priced in or not priced into this. I'm not smart enough to tell you. I will say you have a lot of factors going for you, the biggest and maybe underpriced piece, maybe the environmental component, like this is the number two, uh, crypto currency currency platform.

[00:11:14] And it's by going. By effectively going, you know, green-ish right. And sort of greatly reducing going from like 4% emission to 0.4% emission. It becomes this very acceptable, logical choice on, on a lot of levels. Not only just to build on, but to invest in. So. That alone could, could move. I think a lot of, of the market, not to mention the actual underpinning of the code, we've touched on all of this already, but you know, in some senses, if you're in the NFT game, maybe we begin to get to the road of stability.

[00:11:49] In price, like we're, we're carrying less, I think in the game of empty about what price Ethereum is though. It definitely matters but the freaking stability, because right now let's just be honest. Like if you think this price is gonna two X in the next 30 days, are you really about to like buy that next?

[00:12:07] You know, G maybe not probably waiting. So, um, a cooling effect, maybe we'll talk about volume prices in a bit. Anything else on the. On the radar for you thinking about the, the merge of.

[00:12:21] No. I mean, I think it's, I mean, you're spot on just saying that, you know, the price movement E is not good for, for NFTs. Um, you know, we'll get into some of this a bit more. I think, um, we're talking about the project MarketCast but you know, we, we definitely have seen, um, maybe some, not as many transactions as, as maybe, or not as much volume as we, uh, maybe would like in the NFT area, but.

[00:12:46] You know, hopefully once the price settles down a bit, we will see that pick back up again. Awesome. Well, we don't have a specific affordable project unless you're gonna surprise me with something. So I thought maybe we'd take a quick look at what is on what is on your shopping list or at the very least, what have you picked up in the last week or so that you haven't talked about?

[00:13:07] Yeah, that's a good question. I've, you know, I've been putting some bids out there. Um, you know, I was looking at some of the, uh, Um, the col de decentralized, you know, put some bids haven't had any of those hit yet, but notice some people getting those at you already have one though, right? You're trying to, you're trying to gobble up with, I don't, I don't have one at this point, actually.

[00:13:25] No, I sold both of those. So we both, when people were accumulating them in order to, uh, try to get the ascended version. Um, so that's now done. That's where you needed. I think five of them. Um, so they're, they were butt up. It's gotten a little softer there. Uh, haven't had those come through, but I've been putting offers in.

[00:13:41] Few different places. How about you? Have you had anything hit? Yeah, a little bit. I landed, my I've been talking about it. AARs, you know, putting my E through my mouth is because I, it hit below my threshold and I am gonna pat myself on the back. Cause I weighted, unlike in the past I showed a touch of discipline.

[00:14:00] So I weighted it down from when I was hovering around 0.7, five to 0.5. And I, you know, one of my bids was accepted. Arguably, maybe I could have picked it up for 0.4, five, and now who knows if it drops further. It hit to this price. Um, it's fun to be in that, you know, sort of community. I think it's, uh, as I mentioned before, has a lot of upside in mic Johnson as somebody's gonna continue to hustle, it seems so I'm still digging in and like, you know, as excited as he can be to join another, another project.

[00:14:28] Yeah. I mean, it there's, there's a lot of listings out there right now. We've definitely seen, um, I, I mean it, in a lot of the projects that I'm looking at, we, I'm seeing more listings. I think, you know, that does the price movement recently has got some people thinking maybe I'd like to, uh, to, to cash in some NFPS for E um, you know, I, I, I'm not terribly concerned about, um, Some of the E or NFT prices coming down.

[00:14:52] Um, in my opinion, you know, these are things that sort of stable, you know, they, they do tend to benefit from stability. So, um, you know, looking at, you know, definitely looking at making offers different places and seeing if there are people willing to let things go relatively cheaply. Um, but yeah, I don't know if it's actually.

[00:15:11] The only, uh, the only I can think that I picked up recently was, um, was the ledger market pass, but I've actually sold that since. Um, so that was the ledger. Um, as in the hardware wallet, they have a marketplace coming out. The, the, the ledger pass itself will give you access to some of the new drops. It wasn't particularly, um, Uh, it wasn't overly interesting to me to keep, uh, going with some other new projects, um, that, you know, it was one that I, uh, that I held for for a week or so there, um, you know, not a long term hold though.

[00:15:48] I picked up I Adam pass. So I, I submitted to this. This is, um, A creator community where they're talking about collectively creating. And this is part of Adam I'll include that in the show notes and it it's super cool. Actually, it's all about sort of a bunch of creators that have different skills, abilities from like writing animation marketing.

[00:16:15] And they're all sort of like, I mean, we're collaborating on like what will be created and the ideas that, you know, uh, there will be a, a creative output. And then ideally the, any proceeds that happen would, uh, potentially get divided among it. But it's, it's, it's super interesting because it's, um, you know, trying to, you know, connect, uh, writers and creators in the same, uh, in the same game.

[00:16:38] So. Um, it's not really something that's traded. There's like, there's no volume cuz they don't really allow trading to happen. So it's really just about the, the, the membership, uh, component. And it's one of the more interesting gals. I I'd say I'm a part of cool that's one that I had not heard of yet.

[00:16:55] George. Oh, look at me. Look at me, Sean. Yes. There's no trading volume. So you know, you're do, you're doing it ESP. If you're a creator. Or interested in that game, like I would say that's, um, it's, it's a fun one to check out. Um, I should note that I I've noticed little nouns have come way down in price. I don't know how those will, uh, you know, how those will fare, but I do see that there are still, you'll still see some good nouns, um, get picked up on secondary for, for over 0.3, even over 0.4 at times.

[00:17:27] Um, so I actually think that's a, not a bad one to, to keep an eye on, um, at least trying to maybe. Maybe snipe a, an auction. If you could see a particularly good one, there's still, uh, some PO some opportunity there to, to resell as well. Now, you know, I'm a, I'm all in on little nouns. I was able to snag a, a top 100.

[00:17:46] So just to put a finer point on it, like I will constantly be looking at, uh, definitely not the floor, because if you wanna get in there and bid it's like, go for it and try to like snag one. That looks cooler. It looks interesting. Um, because there's only four out 4,600 out there and there's 1700 owners.

[00:18:05] Um, and there's, you know, in terms of volume in a given day, uh, around call it 2020 items changing hands. But what you can do is actually go with, um, uh, oldest. So you do instead of price, like low to high by default, you do just like oldest and then you hit buy now. And this is kind of how I filter through.

[00:18:26] And then like, I'll do a. Look and be like, oh, interesting. Is there anything that is in the top 100 for, for sale even, and, and right now there's only like three of them available there. So every now and then someone gets desperate and just posts something. Even, I'd say maybe the top 1000 might have some cache, but uh, I'll I'll say Andrews, talk me outta that.

[00:18:52] Yeah. I mean it you're right though. I mean, if you're looking at the top, let's see top thousand, it looks like you're still gonna be at a minimum of. Wait, well 0.4, 2, 5, 5. I see a 0.4, five, five. Yeah. And there's number 9 56. That 0.4, 2 6, 9. Um, actually that one looks like it just sold and was re-listed um, interestingly enough, it was, uh, it was sold about 45 minutes ago for just 0.19 and then someone immediately re-listed.

[00:19:23] So, you know, someone does someone's following your logic. There should be more value to you in the top thousand. You're definitely a good place holding that, that top 100 though. I, I should have some you then I hope that, uh, you know, some of our listeners did . I was, I think I did a decent job shouting that out, but I will say in everyone's defense, I was real depressed because that same day, like Ethereum had taken a 50% ax.

[00:19:45] And I think in like, Like three hours or something. It was like, it was so dark when I was there being like, uh, fine, I'll do this, but that, yeah, that's, that's one to take a look at. And again, I like that because of the way that Dow is structured, right? Follow the money, the money, every 10th, one of these things is going into its own backyard and there is definitely money there.

[00:20:08] And, you know, if you, if you think nouns are doing well, then little nouns are like a slice of that. So I dunno, I like it. It's on my, my list. I'll put that filter by the way in, um, in show notes.

[00:20:20] I mean, the other things in my wallet is like, I bred another horse because I'm real excited about the upcoming, uh, upcoming changes Zed has, uh, going on in there. Um, like I need another, I think I just need a hundred horses. I just, I need to hit that. That milestone. Absolutely. I mean, I it's it's I've I've come rather disappointed.

[00:20:37] You don't have that many yet. You gotta get to a hundred. I mean, Andrew, there's a filter. There's a constant filter to say like, do you have over under a hundred horses? And I'm like, you, like, I should . I mean, yeah, you, you should have, well over a hundred at this point. Let's uh, let's encourage George second wallet.

[00:20:54] Actually, I might, I have to go check my second wallet. Oh God. I gotta go. Oh boy.

[00:20:58] All right. I feel like, um, is there anything else on the, uh, the affordable shopping list right now? No, I think that's, I think that covers it, you know, making bids and, and seeing what hits, but, you know, be, be patient. You can, you can get some people, uh, maybe a little desperate to, uh, to, to get E right now.

[00:21:17] Agreed. Um, so I definitely picked up the, uh, the play, the pray station, um, after our pod, uh, I picked. That one. Oh, all right. The, from Joshua Davis. Yes. The art blocks one. I like that. Yeah. I think if you're collecting art blocks, you know, there's, there's definitely a decent backstop on that. And that floor is at point 11 right now.

[00:21:39] All right. Onto the theme. So we are talking basically about market cap, so NFT And, you know, they're, you know, everyone's got their, their sort of hook on it, but it is a data aggregator price, price, floor tracker, and then it just does the fun thing of saying, well, what if we multiply, um, the total amount of the value of price floor versus the collection size.

[00:22:06] And that's how you end up with like a market cap of 1.4 billion for board ape, right? Or, uh, crypto punk set 1.3, uh, 1.3 billion. So it is this idea of saying. There is an inherent value and it's at the floor. If everything's sold for the floor, this is what it would be. Um, I think it's also interested. They show listed slash supply ratio and you just sort of have like a, a scarcity element there, uh, as well.

[00:22:32] Um, which, which is curious, I dunno, what do you see in when you look at a, a market cap, anything of use. Um, you know, I think one, one of the good things with market cap is that it gives you a way to compare floor prices or more than just floor prices, but compare collections beyond floor prices and account for the fact that many of these projects have different numbers of pieces.

[00:22:54] You know, we do see 10,000 often, but obviously we see, you know, 5,000, you see 20,000 see very different numbers. And there, you know, that's a lot more holders, a lot more people that need to hold onto those, or, you know, you continue buying. Um, and you know that we're, we get these market caps and it's, you know, I, I think one thing to keep in mind is that's a pretty.

[00:23:17] And it's, it's always optimistic because it's assuming there is liquidity at that floor price. And, you know, we, I, we know that once somebody starts selling that floor price is going to move. And if there's a lot of sellers, we, we generally know which direction that's going to go and that's gonna be down.

[00:23:36] Um, so I think it is, it's good to keep in mind that these. These floor cap or sorry, these, uh, um, these market caps. There's, there's not a lot of liquidity generally speaking behind these projects. Exactly. So the liquidity question is like, could all of that technically be sold. So if you were, you know, nine, 9000th person selling, like no one would be on the other side of that buying.

[00:24:02] So I think it is a bit of. I don't know, mid bit of misleading data to assume that like, oh, we could immediately get all that money for our place. You need that many buyers on the other side. Uh, for, for doing that. Um, I also like to just sort of like the quick number, so example, like I know you're a rug radio holder for, for instance, um, we've talked about it, but the rug, radio Genesis NFT, you know, there, there's only 1.2%, um, sellers on that.

[00:24:30] So like most of the folks are actually staking that. Right. And so you're like, oh, interesting. Um, it's kind of just like a different look at what, um, A thin floor might be, um, the floor on that by the way is like, I think it's like 0.2. It's in the background of my mind of like, eh, maybe I'll put that on my list.

[00:24:47] Yeah, I, I do like looking at the number or the percent listed, I guess that's even even more indicat than, than the number of listings. Um, you know, one thing that I think we need to keep in mind is this is generally open sea. And as, as far as listings go, and, you know, as we see more and more markets or marketplaces proliferate, and, you know, we see, you know, X two Y, two, and genie and, and looks rare and.

[00:25:12] I'll take little bits. We're not always getting a complete picture of how many are really for sale. When we look at these, I think it's a great metric overall. Keep in mind, some projects in particular may be more active on other marketplaces. So, you know, there's look around a bit when, when doing these, when you're doing your, uh, research, you know, I've definitely started noticing that you need to really check more marketplaces now because, uh, you know, open sea doesn't have as much of a stronghold.

[00:25:41] And I think that's probably going to continue. I think, you know, some of these aggregators, these data, um, aggregators they're. Right now they're not taking listings from all of the, the various marketplaces. Um, for the most part listings are off chain. So that would be using, um, you actually need to use APIs generally speaking, to get the listings, um, from the other marketplaces.

[00:26:05] So, you know, I think we'll start seeing improvements there, but, um, Definitely isn't a perfect measure. Um, I think it is, this is something that's actually included on the, uh, w tool as well. You can see how many, um, new listings there are in a day and how many, or, you know, whether it's gone up or down.

[00:26:24] I do like looking at that gives me some idea of, you know, if it's, if people are, are. You know, getting more tempted to sell because the price has gone up or, um, you know, people are actually holding because, you know, they, they wanna hold or hold it for the long term. And aren't necessarily all that concerned with a, you know, 0.1 E increase.

[00:26:43] Um, it that's that I find actually more, I, I pay more attention to that than, than market kept generally speaking. Um, I don't know. How about you, George? Do you, do you look into those at. Um, yeah, I'm much more of a Hawk on, on the sort of volume. I wanna just wanna know how, how quickly or how FOMO a, I should be on my, my bids, uh, on whether a project is moving or not.

[00:27:07] And frankly, I'm like, I, I'm really only looking for things that are asleep. I want, I, I want something that, uh, I I think has value and is going to, to wake up later. Um, and if it's already moving, it's a signal to me is like, I missed it. I'm like, I'm fine with that. I'm good with it. Uh, the other side of it is I'm a little, you know, not too asleep.

[00:27:28] I think I was, you know, looking back, uh, a year ago, this time. Was I think more enamored with just sort of like old projects for the sake of old, like, oh my gosh. Like how old this thing is. And like it's been a year and I don't think that really has played into this market valuation at all. You know, my, my bets on like crypto bots, my bot, like my bets on chain bases simply because they were just like OG and original and, you know, have, have been in the game for a while.

[00:27:55] Like it. Uh, it doesn't seem to play in. And I think there are, it's more about utility, um, ongoing interest of the project because, you know, I'm, I'm looking at something like chain faces and I'm like, there's a low number listed, but I know that's because it's just low attention completely. I almost like it has been forgotten.

[00:28:13] Yeah. You know, I, I, I think that may be, you know, trying to look at the number that are listed in a day compared to the number of sales, um, would probably be a, you know, really helpful, uh, metric to have, you know, see how fast the, the inventory is turning over essentially. Um, Because I've definitely seen some and there are times where I just go list something and it's maybe the only one listed.

[00:28:35] And, you know, I know that it's not exactly going to move anytime soon, despite being the only one listed, um, And that is, yeah, there's a lack of attention if people aren't seeing anything happen, um, you know, open sea has made the default, uh, for new listings to just be 30 days. So, you know, there, if you're not in there and either not changing it doing longer listings, there are definitely times where there's just no action.

[00:28:59] Um, you know, and that's one where we, if you looked at how many sales per day and how many listings per day you'd have a much better, you'd have a much more accurate view of what's really happening with the collection rather than having to go look at the, the activity manual. Yeah. All right. Well, I think in a, in upcoming one, I wanna dive into some transaction actual like macro data and, and look at that.

[00:29:21] Look at some of your charts, any other, any other thoughts we had on this theme?

[00:29:25] No. I mean, I, you know, I think this is, it's a good one to keep in mind, especially for comparing different collections and also getting an idea, is this, you know, is this absurd? Is there, you know, is there really that much liquidity there? You know, if you see an absolutely massive number, you know, in the, uh, the market cap, I think that might be a good sign that it, uh, it's a little bubbly.

[00:29:44] It might be time to, to list because certainly other people will be listing as well. Yeah, you get into this sort of like we were to tie the real world price to earnings ratio and it'd be way outta whack. You'd be like, really? Yeah. Yeah. I mean, you know, it's, we're still developing some of these metrics I think.

[00:30:02] And you know, I think there's even just thinking about how, how fast the, the inventory does turn over is, is important when you're, when you're thinking about getting into these collections. Yeah, no, it's it, it could be actually a, a warning signal of saying like, well, wait a minute, this is just it's. So out of whack and sometimes to see the big number can help you realize like, wait a minute, this is, you know, you're telling me this is got the valuation of like a fortune fortune 100 company.

[00:30:27] And you're like, it doesn't like this, this asset simply doesn't have that. Yeah. I mean, it's, you know, it's hard to say that many of these , that aren't seeing a whole lot of, uh, revenue, um, beyond, you know, a small percentage of, of what's traded each day. Um, it's hard to imagine that that a lot of these can sustain some of these just massive market market caps.

[00:30:50] I don't know, crypto Dick butts might make it. You know, I think that deserves it's it's market cap. Well, I'm give you crypto. Oh, here's here. all right, Andrew, you gotta guess as we sign off, what do you think in, in dollars the, uh, the market cap for crypto Dick butts is. Uh, let's see. I think it's well, there's about 7,000.

[00:31:12] I believe there's 69 69. And it's three E or so. So we've got 21,000 E nine. So what do we have? 400 and something, 440 million or something? Well, you're off, you're off by a zero. It's like 30. Am I off by a zero? Oh, five zero. Okay. I added one. All right. Sorry. I mean, you could, if I had said doodles, you were you were, well, I mean, I knew was gonna be something absurd, but you know, I don't know the Dick, but what has been interesting and kind of expected that with a pump a while ago?

[00:31:46] It has now it's, uh, man, that's that's that's the CCO one, right? CCO summer, apparently. Yeah. Oh, that's a good topic for us. What happens when you know, you get CC'd like all the moon birds people did. Um, we had that in the news article, not too long ago. That was unfortunate for them. Well, legally, man, what you own is not yours anymore.

[00:32:07] Sorry. Yeah, that's an interesting one, especially because that was advertised as, uh, being part of the project that you own the IP so interesting that you never owned the IP because if you did, they wouldn't have been able to change it like that. Learn as you go. All right. Good talk. See you out there. All right, George.