Yo-yo, what up? What up? Good morning. Good morning. GMD. Monday, Monday, Monday, Monday, May 19th, 2025. Look at that. Another beautiful day. I have a beautiful day. I got my coats in the house. Tyler, Amanda, good morning. Good morning. Good morning. Good morning. How are you doing today? Hello, I'm doing fantastic. How are you? I'm good, tired. Tyler, how are you doing today?
I'm good also a little tired so I I don't have the the the biggest social life these days, but I did go out last night. I was out out at dinner and I missed all the crazy price action into clothes, which is probably a good thing because I would have been euphoric and screaming on the timeline in all caps. Most like just. To have on a Sunday night. I like that. I like that. I can't do Sunday night or else I'm dead on Monday. I yeah, this consensus week, that was a lot. That was a lot.
It was a lot. Then we had our event Friday. How was it? Yeah, we, we had our event on Friday. It was a banger, but it was like a 7 hour long event. I'm never doing that again. Sad to pero though. And other like that was fun. It was worth it. But we started 3:00 PM so show up with two blah blah blah. You know what I mean? And then our event went to like 10/10/30 and then I had to fly the next day. But it was great. It was successful. We had over like 34500 people.
I don't even know. We had 2000 signups. It was the official after party of consensus that we threw. Yeah. So it was like it was everyone, everyone was there. It was great. Shout out to everybody who showed up. You lot of you are listeners to the show. So shout out to you guys for for pulling up. And this week. I'm on the road again on Wednesday for like 36 hours. Have to go to Solana Accelerate. Yeah, big week for Solana. Actually.
They have a massive event in New York, like really, really big. It's impressive. Like a lot of people head in there. It's a whole week long, but I'm just going to go for like 2 nights. But yeah, it's a lot. But we're almost there. It's usually first half of the year is a lot, then there's nothing until like September. So so we'll be we'll be over it.
But yeah, consensus was great. I think I told you last week was super successful and the event went overall amazing and we even got Drake cardboard cut out appearance at the event. So you know, you can say Drake showed up, you know anyways, the other show, I mean, look, Tyler kind of alluded to that yes, right now, but you know, we're going to go through the market. What a watching the close last night was like watching Sly sports. It was so fun.
I just had like the 15 minute charts on Bitcoin. I was looking at it. Let's go fuck it. That was fun. Highest weekly close Bitcoin in history. So that's historical night. Yes, historical Sunday. So we'll talk about that. What's next we'll see. I mean are we expecting all time highs this week? It looks like that's quite consensus, but we'll see what happens on market side Tyler's top 100 quite a bit of news yeet giveaway. So make sure you sign up to yeet.com.
There's going to be a code given during the show. You go to raffle ball dot XYZ, enter it and you'll be able to, you know, win some money. We've given away over 20 grand already, so make sure you sign up to that. And as usual, our show is powered by wallet connect wallet connect is a connectivity network shaping the future of aunt chain UX. If you've connected to Web 3 app, you've seen wallet connect that blue logo, it's everywhere. An icon to trust in crypto as recognizable as Visa at
checkout. Want to learn more? Follow Wallet Connect on X and Telegram to stay ahead of What's next Medal? What's next? Who is the man back? Oh, daddy of the man, can you dig it? Yeah, it was a bit of a wild last 24 hours. I went to bed and I missed all of it too. But I woke up and the marker was down. But then I heard it hit 107
briefly on last night. That was the highest weekly ever closed for Bitcoin. You saw Bitcoin doms as you go up during this period, mainly because ETH underperformed, although that's less aggressive now than it was at one point yesterday. But you have seen most of the L ones have gone slightly lower today. Solana is back to 161, ETH is 2435. Bitcoin is still at 103 K, so Bitcoin hasn't really moved, but most L ones and alts are down South.
Bitcoin dominance went back up to around 64% over the last over the last 24 hours, although it's it hasn't pushed on to new highs from there. So we'll see we'll see where that one ends up this week. We have an interesting week. I think the they're still going to see some headlines from this from this world tour that obviously Trump is doing. He's come back from the Gulf and a number of different things to to mention for, for macro actual data, it's not that high.
We just have global Pmis and some some home sales data and there's been a lot of weakness in the in the housing market in the US in particular. So that might have some feed through. The main thing today on macro has been the downgrade which happened on Friday night from Moody's. Moody's is a credit rating agency, probably only heard about them from 2008, but they they generally give credit. They give a credit rating essentially that you would get at a bank for for corporates and
for governments. And they downgraded the US from the highest level to like the second highest level basically. And the reason for that was just high deficits and high debt. This did cause a big sell off when this last happened, although that was slightly linked to COVID. This this time it's caused a little bit of a sell off. The main thing has been though that the 10 year again continues to push higher. So we've got US tenure is now. Let me look at it now. Yeah, 4.5%.
So we're heading back higher. 30 year is comfortably above 5% too. So all this hope of lower rates with fiscal prudence, let's say seems to be a bit behind at the moment, which has gone people a little bit bearish, but don't like it when bond yields go higher. And bond yields have been going higher in pretty much every every geography too. So this is sometimes not a great
scenario. You can't read that much into it. But yeah, if one yields go up to like 5 or 6%, then it would be worrying. I would say at least for like the fiscal situation in the US, their ability to actually fund things would be would be definitely impacted if that was to was to was continue to continue Japan similarly as having a bunch of it's one yields go to multi years highs at the moment, which isn't isn't the best look for for Bitcoin for everything else.
We've had a few more corporates come out and say they're going to buy Bitcoin. There's a corporate that came out thousand more group, so they're going to buy a billion dollars of Bitcoin. And you? Have metaplanet by another 104 million, which is a good a good sign and but for for the other ones, the only real sole headline, the biggest sole headline was at Metamask. It looks like they're about to support Solana from this month
well. There's going to be a lot of headlines this week for Solana, right? It's like their their big week. Yeah, it's like their break point, but in in New York this time. Yeah, this is their. This is their big week for announcements. Yeah, so. And they always make sure to have some, right? Yeah. And then hopefully they get
taken well this time. Yeah, feels as though it's underperformed largely it's Lana here, so hopefully it has some room for like good headlines lead to outperformance for a little bit. Big winners over the weekend. It's the same ones really. Kaito is still doing really well. Head still around $2.00 there. Virtuals has had a good well staying strong in the in the AI ecosystem. Most other things took a bit of
a bath and in meme coins. Definitely got a bunch of meme coins that didn't have a great weekend I would say. Or at least like treading warfare. I think mainly that's just general altcoins underperforming. Yeah. I suppose that, but yeah, I'm still bullish red coin. Actually, it's probably been the genuinely has been the best performing altcoin meme coin. Of it looks they kill this it actually looks insane. This is insane.
I I saw that right before the show too, by the way, I was like what the fuck is this like this is nuts Yeah, like it's just ready to I mean I'm assuming obviously we're all back bias here, but I'm assuming a push all time high next right so here's. Hoping here's. Hoping, yeah, here's here's the hoping. You know, I think I would love that. I would definitely love to see that at a billion dollars. Anyways, he's got a new flavor coming out.
What do you guys think it is? It's it's weird because it's the same color as Coinbase open sea and circle. So he's playing mind games here with people, you know what I mean? He's like, he's like trying to see what what flavor do you guys think it is? Mendo knows, but actually I think I know too. I mean, it seems like base is like somehow sometime in the base seems obvious, I guess the base Berry. But Burn laid out the case for just base and then it's not
going to be flavored. It's just going to be pure sparkling water, which is interesting. Interesting theory. I got to give him credit for that. Yeah, it's, it's going to be interesting. Anyways, that's a good roundup man though timeline I was going to say consensus was all time high but after last. Night. I'm I'm, I changed my mind because yes, I was like, fuck, it was going to fall time this week.
And then I looked at timeline and seen a lot of people exclusive Zoran Kohl's aggressively back from the timeline. You know, shorting the share of the market is calling for much lower before higher. I mean, what's what's your feeling about this? You're like, it looks like we're bouncing this morning. Obviously it was a little too hot last night, like the clothes was honestly like fireworks. It was so much fun to watch boys and I knew even I knew I was like, OK, I'm way too excited.
This is going to this is dumb for sure, but why do you what's your timeline for like an all time? I'm hit like we're we're we're close, we're close. What do you think happens here? I think it'd be it. It would be a highly likely that we're going to hit all time high this or at least go for it this week. You know, you don't, you don't get, I mean, it's got to be there's, there's a lot of air in terms of resistance between here
and all time. I thought we we'd go there straight away as soon as we broke above 100 because there's not really a lot of like, oh, you got to get through this crazy level. It's just like took like 3 weeks right after we broke 102 weeks. Yeah, that's the weekly. So what a chart though. It just looks like you got to hang that in the Louvre. If we break higher, it's like you got to we're going to have to put at the moment or something. This is nice love to see that.
And So what does that mean for I mean this all coin market it. Every time you think it's going to be all season, you kind of get humbled by Bitcoin. It's insane. Like even last week and there's a clip that for more posted of us talking about this, remember the Raoul pals calling for the top of Bitcoin dominance. A lot of people said and we discussed those 3, we didn't disagree and we didn't agree agree, but we were just like, OK, like that would make sense.
Like what are you thinking? Like this is just again like a Bitcoin like rally. It seems like all coins just got smacked by down yesterday, starting with ETH and Solana. Yeah. So I maybe I am just a bull Todd, but I am I am only on ETH still like I think this is the one that's going to move. So I, I'm, I'm still bearish on Bitcoin dominance for, for at least the next few weeks. I think we've got another leg of this altcoin move, basically. Look at this though, this is so nuts.
It's like every time like here people were calling the end of BTCD and right there just like decides to say fuck off and. If you didn't think that that could happen, then you don't know Bitcoin. Dominance. You're right. And I think you are betting. It happened here too, right? And then here. Wildly against the trend, but I do think that this is the time where you're going to see. I don't know about other old
coins like this is what I said. I just think this is the time for Ethan. If I'm wrong, I'm wrong. If he dies, he dies. If he dies, he dies. I mean, let's look at the our our beta here, Pepe Strong above 5.4 billion tried to crack above 6 something a few times, but it didn't really go down below 5 billion at all on this retrace, which you love to see. Mug actually has been ranging in that $400 million range pretty heavily, which is good. Good sign. Usually a little handle, right.
You were like this Tyler's favorite little little move here and then wrecked. I mean, wrecked is wrecked and wrecked always has a lot going on for it. And you had always spearheading down on the timeline. So that's good. Is there any other ETH beta that you guys are following? Like I guess following like Ave. or like Lido or like those like the utility, all betas to ether, just strictly Ethernet memes. I said, like, what am I buying? I'm just buying. No, like, yeah, yeah.
So are you like, no, because are you OK? It's altcoins like the lighters of this world, etcetera. Or just not at all. No, no. OK, to be fair, like I think the thing that may outperform here is Eve, I've said this A. Couple of no, you've said it, yeah. That I just think that if you think that Eve is going to outperform, make sure you own some Eve. Yeah, that makes sense. I'm trying to find the chart of the theorem ecosystem here on on
on thing. But it's weird because it has like chain link sheba in there, but get and everything. So it's it's tough to find like the proper coin market cap of ETH and ETH all coins. But it even looks like the Altos are not performing very well on this on this last run. So anyways, OK, that's a good market roundup. Hopefully we get our our little all time high on Bitcoin this week followed by an alt run. Please alt season when I need you I need you Tyler. It was a weekend pack with you
to see what you got. 4 trillion NFT and crypto analysis Tyler T on FOMO hour calls the kids pay at least. Free to batch the pairs yeah folks, crypto majors slightly red here this morning after a roller coaster Sunday. As man I mentioned, we hit all time high weekly close on Bitcoin right around one O 65 but have since sold off a bit since then. the US stable coin bill of genius act. It looks like it might pass the Senate. It's gearing up for a big vote this week, so that is going to
be a big story to watch. Jack Dorsey is back and endorsing this BIP Bitcoin Improvement Proposal 177 which effectively would change the unit bias of Bitcoin back to Satoshi's. So Satoshi would be become Bitcoin. Current Bitcoin would be like mega Bitcoin. So the price of Bitcoin would be like .001 cents or or dollars. So big potential change and there's a big discussion underway on the timeline for
that. The other Bitcoin is 14 U.S. states or long Bitcoin via micro strategy combined $630 million in exposure, so 2/3 of a billion already in the states. Sailor bought another 765,000,000 at A1O35 average man planet bought another thousand that the D5 development stock previously Jan over soared 75% on Friday after they announced a new partnership with Bach so that stock now over 300 million
in market cap. Galaxy digital began trading on the NASDAQ on Friday. Basil Medical Groups the last the latest company set to acquire Bitcoin for their treasury up to a billion interesting headline crypto venture capital now projected to exceed 18 billion in 2025, so a lot more investment happening than perhaps folks see on a
day-to-day basis. Steak 'n Shake announced they're going to start accepting Bitcoin's payment across all their locations in the US. And if you remember that fake SEC Bitcoin ETF approval announcement that sent Bitcoin up briefly before, it was. The. Hack fake. Yeah, the guy in Alabama man was behind that. He got sentenced to 14 months in prison. What a fucking idiot. For that tweet. That's the one where he act the Gary or SEC. It was the account right?
Took over the account. Yeah, they took over the the SEC account for that one. What an idiot. So he's he's going to pay, pay his time. In token AirDrop and protocol news, Meteora rolled out some big upgrades this morning to support apps like the believe app and Time dot fun. It features things like single sided fees, dynamic pricing and sniper protection and more. Infinex dominated mindshare over the weekend, folks after the launch of its $6 million Yap run rewards program.
It looks like open Ledger and now Huma Finance announced their own reward programs this weekend as well. So these keep keep coming out. Yappers are going to keep yapping and get rewarded for it. Rounding this out, AI market cap fell 5% ten billion Virtual's announced its new sticking program as a shift in how its virgin points program is going to work. Previously you just had to hold passively. Now you have to stake those coins to get your points. Meme coins are red.
The launch coin ecosystem holding right around 370 million in total size. Launch coin holding at 207 million. Still the leader net KNET was one of the the runners from this weekend. It reached 12 million. A few NFT headlines actually zombie crypto punk. One point O 8 million you sell skull of Lucy old for 100 ETH. I'm Gandhi. That was their record all time high sale for a skull.
And then these token works NFTS, an interesting new project kind of following in some ways like that that proof model to a degree. They minted out 256 NFTS for one ETH each and those are soul bound and not tradable. So an interesting project sell out there as well. Interesting. So wait, what's Steak and Shake? Because that we don't have that here. Oh you don't? Oh man, Steak and Shake is a fast food restaurant that that serves more steak forward
Burgers, sandwiches, fries. Steak and wow, look at their main website. Oh, it's got Bitcoin on it? Wow, they're really leaning in. I hadn't seen this. It's Liddy right there. Yeah. Damn, well he's right there too. Interesting. Is it good? It it's good. It is unhealthy, but it is it is good, yes. Like, how do you compare it to like, I don't know, like Shake Shack for example? Oh, I think kind of similar. I think that's a good a good cop would be Shake Shack.
I'm. I'm very interested to see what kind of. I love how beef tallow has become this thing in the US like it's. Like what's beef tallow? Ended for literally everything, but you haven't heard about beef tallow. It's like the new thing. If you're a man, you're into beef tallow. Like you rub it on yourself, you eat. It Wait. Hold on. Hold on. Hold on, hold on. Yeah, I've. Not I haven't not heard about this. Like not heard. About this, the story is like
the McDonald's fries. The McDonald's fries, the OG ones were made using tallow. What's tallow? Like? What does it mean? Like what's? I've never heard that word. It's like law. What's? That can you like rub it on yourself? No. They like try it. They try the this. This has become a thing to have tallow sunscreen. This is the thing. It's an alpha male thing to have beef tallow. Skylar, is this like the liver king type thing?
Like what do we use this? Thing like every recipe, beef tallow is like the thing and what I love about it is it's not like it's super healthy. Like beef tallow is literally fat from a cow. So instead of butter, which is fat from a from the milk, right, or vegetable oil, which is vegetable fat, this is this is just fat from a cow. And yet it's seen as like some like, Oh my God, it's so it's the healthy way to eat. That wait, people are you?
You're not joking. Like people are actually doing that. Brother, it's like the thing. What do you mean is the thing like I've never the fuck is wrong with people? Yeah, it's because seed also the things too long. It's just, it's just a a if you want to feel better about eating fat, you now have beef towel. That's basically what it is, and it can be used for different things. So so Tyler, is that how you bench so so much? Like are you rubbing? Beef towel sunscreen with beef towel.
I just run. I rubbed beef towel all over myself and all over my children. Oh wow, so some people are claiming, well, TikTok, you know, TikTok is, is claiming that it healed people's eczema, acne and so. What you vinegar, you know. Oh, the smell is kind of the downslides. This is hilarious. Adam wow. Well, beef tallow has a moisturizer down, so that's what Steak 'n Shake uses. Yeah, they they know they're. Well, like it's like it's a marketing thing now. OK, I see.
It's 100% a marketing thing, 100% the world is heading towards beef tallow and away from seed oils. What does Brian Johnson think of beef tallow? Can we get a clip of this and see if Brian Johnson can answer us? Brian. Johnson's vegan. Oh, he's vegan. That's OK. OK. I, I, I'm running out. I, I, I'm, I, I'm behind all these things. I, I just started creating like 2 weeks ago, you know, I mean like, I, I, I'm, I'm getting a little lost in the sauce here or lost in the tallow.
Should I say just? Forget all supplements and just have beef tallow and you're like you're ahead of the curve. Then do this. Ahead, you know? Yeah, yeah. Wow. OK, interesting. So beef tallow it is. I'm going to start rubbing my my hair, my body with with with beef tallow. Every everything all right? 100 hundred recipes with beef tallow plus all hair and skin care routine done with it. Do you like also rub it on your thing? It's medical in so many ways, you know? Got it.
Well, all right. Well, if you want to fuck like a bull, you know. OK, Someone dropped beef talo coin. That's funny, is it? Oh, there's tofu talo too for the vegan crowd. OK. Now. You know it's mainstream. OK, Tofu talo. All right, this has gone too far. We're a crypto focus show, Tyler. Yeah. What else do we? I'll bring us back, I think, but somewhat related. So like, who is the person who's going to use their Bitcoin to buy Steak and Shake food? No one.
If maybe if you're on the Bitcoin standard, but this VIP 177 push, a, a part of that push is making Bitcoin to be more spendable because of its unit bias. So I think when you hold an asset that's $103,000, right, it can be a bit awkward to, to go and, and try to buy everyday goods. So if you're thinking about as a currency more than just a store of value like you're going to, you're going to pay .00012, you know, fractured by something.
Well, what Jack is talking about, part of this proposal is switching the unit bias to make Satoshi's rebranded as Bitcoins. So that's one. So there's 100 million Satoshi's in a Bitcoin. So if this went through, the price of Bitcoin would be literally 0.001 O 3 and then if you have one Bitcoin now you would have. Isn't the whole point of SATS? Well, they're saying like, sats is a bad term, people don't understand it.
Yeah. And like it sounds like it's something different than Bitcoin when it's not. It's a little weird, right? What do you think? Like I. There's a lot to unpack, I think from a store of that. Like I, I feel like there's a real like lendiness to Bitcoin that the higher it goes, the safer it feels. Yeah, it's just a little confusing. You would destroy that with this unit by a switch. But the flip side of that is like, I mean, stocks do stock splits for a reason, right?
And I think I was, I was playing this out on the group chats. Like if let's say the the scenario where where Bitcoin goes to 500 K, are people really going to put $5000 in and get .01 Bitcoin? I think there's something to be said for like accumulating 5000 Satoshi's or bitcoins versus .01 and the higher it goes more of a a mental hurdle that will be. So I think in from like a payment currency side, I think
it makes a ton of sense. From a store of value, perhaps it it does not make as much sense. And I think I think it's going to be a pretty heavy debate. Yeah, this is such a good quote Bitcoin is actually scarce.
There are 2.1 quadrillions of them and I think this ruins the narrative of Bitcoin. I I actually think don't I don't think it's a good idea just let Bitcoin be Yeah like we've got something good going for us in crypto, which is Bitcoin like the one thing the cycle that's really doing really well dude, I do agree someone's commenting it's too early for VIP177.
Imagine the confusion this causes to normies and then if Ghani of Wenemuth saying sorry Jack with this peak idiotic is praying on unit bias not at all related to explain how people can buy coffee for Bitcoin. I kind of agree with that. I mean man, what do you think they're talking about Bitcoin a lot. This is like.
Jack Marla a lot, you know all the Bitcoin well, so as soon as you do this, they're going to be like, you know, this is this is beneficial for that narrative, but it feels a bit scammy to me, like one Bitcoin. Is 1. Bitcoin just changed the fucking unit bias of it. Let's yeah, what are we trying to fuck with Bitcoin? You know what I mean? So yeah, I mean, I know so much you guys think about that, but I don't know, it's so like. I don't know. I think something like this will
happen over. I think that's one of my hot takes. Maybe not this year, maybe it's not 100. I think we'll see like micro bitcoins, like a one 1000 version. I think we will see some something of that nature because people want to accumulate more than fractions of decimals. I guess the alternative and someone said well you can buy like I bet shares which has their own unit bias right? Yeah, it's true. Which is a bit more approachable. OK, I like the term sats.
I don't know where when that just became uncool. Two point quadrillion Bitcoin sounds like a shit coin. It's a big no. I mean, it's kind of true, right? You can't turn. Bitcoin, it does lose. It's like scarcity a bit when you switch from 21 million to. Yeah. Quadrillion. OK, that's, that's interesting. 1 So when does that like, is this something put up for vote? Is it like how do we? I don't know the details of that, so I'll have to dig in, I think.
Yeah, it's a proposal, so it would go up for some kind of a vote, but I would imagine this is something that would have to be lengthy discussion plus like, how would it be implemented like that? There's a lot to unpack. Would this be the final straw of termination for alt coins? That's a good question, right? Because it would make. I mean you we don't need Bitcoin for most of the things crypto does, which is price go up. Yeah, it would have an impact, I
think. And it would still only be 21 million Bitcoin. You're right, DLA in the comments. That doesn't change anything. It just creates this other. So like the nomination for a piece of Bitcoin, a fragment of Bitcoin a bit, let's call it, right. So so I'm going to follow closely. I guess we'll see what happens. Mando's firing off memes. Oh, no, I thought you were firing off memes. And Tyler, what else you got for us today? Yeah, let's see.
I mean the NFT sales were a big headline and over the week that that zombie punk movement 4 point O win in the school of Lucy and we talked about 8th betas NFTS in the conversation for for ETH beta. Maybe just punks. Yeah. Are we going to like, how are other NFTS performing? Let's let's have a look. We haven't looked at because like that punk Bitcoin ratio was doing well. You know, punks still low. We. Took a. We took a bath on that eat the. Yeah, by the way, this is just
such an amazing punk. This is, yeah, it's not a comic zombie. That's just such a good zombie for $1 million. Good sale. Let's take a look. I mean, let's take a look. How are NFTS even let's say on Eve? Specific even even on the week roughly like buddies are hanging on. Hold on, let me see something open C I just want to look at the ETH ones alone but not even like I know abstract for example has entities but I just want to look specifically on mainnet. You should be on a few chains.
Chains, just Ethereum. That's it. OK, Yeah, there we are. Floor price. OK, boy, no, I hate when it does that. I guess we got to do by volume. OK. I don't know, dude. We're not seeing a huge bid by any. Means it's only punks. Punk slide and then you're catching some art bids across like same as Brad the The Rough Heck and It All collection did well last week. Well Dick butts are up 1.7 ETH. Those are up. It's actually wild. Everything's just kind of been stale for the last few years,
right? Like Pudgy's at 10 and apes at 12. Seems like what we've seen for a while doodles that like 1:00-ish. Like this is same price that we've seen for the last three years, I feel. The wild card is open seat token. When? When are we going to get it? Yeah. When is that coming? My my gut is like not till Q4. That's when apps is set to launch, right? Yeah, if if that's the scenario, then I feel like NMTS probably just go sideways. They have like Mona at mega E
apps. Maybe Metamask one day would be nice. I feel like there's already like farm fatigue. Mega ETH Myriad, so yeah, this comments is great, CEO said sometime in 2025, so I assume December. December 31st. December 31st. I'm impressed. This good vibes club is holding a .7 ETH by the way. Wow, that's a that's a strong. I just noticed. Got to give them credit for that. So they're. This is impressive because it's a new collection and what's up with abstract?
Like I I keep seeing NFTS on abstract. Dremelius had quite the run yo. They're back at .19. I had an idea. I kind of want to outsource my idea with people. OK, what if I moved the rug radio PFP to abstract? Because on ETH, right, you know, there are Corey Van Loop PF PS face the web three. I thought about this the other week.
Not that we have time right now, but if we were to have time, should I be migrating this apps and then giving people like a multiply or maybe add for having that as PFP? I'm not moving it to Bitcoin Bongo. I can see your comment. This is going to cost like $1,000,000 to do like. Why would? Why would anyone move anything to? It did Bitcoin shit is dead bro. Like this this not.
Did I still have all my bongo? Move it to Bitcoin bro thinks like we have like $10 million to spend like this alone will cost like $1,000,000. I'm. Genuinely speaking, like do you think it should be migrating this to abstract? I I think it would catch a bit over on abstract for sure. We get, we get nothing out of it. Like it's not like creative revenue is like there's a fee. I'm just saying like maybe for the people, you know what I mean?
Having a connection to Myriad, I think that's interesting. Yeah, like, let's say you have this as PFL Myriad, and then you'd be like, I'm gonna get a multiplier for using it. And abstract he's heating up to looks like people as excited people as excited about it. No new collection. I can't drop more tokens, that's for sure. No new collection. That's why I'm thinking that, you know what I mean. No, no, Yeah, I'm seeing a lot of volume on there and it's working out.
What is it portal dot apps dot XYZ, right? Oh. I will say this, I feel like there there's increasing chatter about abstract on the timeline. Yeah, the mantra is good and. I don't know that we're quite seeing it objectively and all the asset prices just yet, but there's more folks. There's some drama this weekend. With the the token. Yeah. That Loki dropped and actually missed and I missed that. I I don't pay attention as much anymore.
I just look and I'm like, look, people are fighting again. And then and then I just kept watching Rod. Tokens, folks, it's not a it's not. It's not a great look. Yeah, no, looks like there's a lot of stuff. There's like a meme coins on there doing good. We did like a collaboration with Rd. Tracing this morning. Oh nice. Yeah, wow, look at this. We're second all abstract in terms of up votes featured. Not bad Koken. Oh, we're first in trading.
That's crazy. We got to get that that streamer who who who claims to be the number one myriad better. We're going to have Oh, he is. We're. Going to have to get him either on FOMO or we're going to have to do a show with. Him we should have him on dude, he is this you know bro, he broke Myriad. So he made a $750 million points this weekend on a on a on a prediction. It broke our leaderboard.
That's why it doesn't update. Remember when Gangnam Style broke YouTube because it did too many views. The same thing happened behind I was looking at the abstract dev chat this morning, Mira dev chat and because seems like following up like why this is not updating and they're like, yeah, it broke the the leaderboard. Yeah, what's going on? He sounds like a legend and I I need some tips. Dude, this guy's a fucking Chad man 2 billion points. Yeah. Oh my God, that would be fun.
All right, so let me go ahead and guys think about this idea of the abstract thing. Don't go speculating on our PFPS, OK, just said that it's just an idea I had. The team doesn't have time to do it, but I'm like, hey, if we find someone to help us with it, like maybe I should just migrate it to abstract. I I like what's going on there, you know, pay I pay attention somewhat to what's happening in
NFTS, right Tyler? And it's like it's working on abstract, you know, seems like people want NF TS on L2 right now more than they want it on L1, you know, so. Yeah, I think it's that and I think we want to participate in you know these pre TG. Interesting. And then, Tyler, I want to ask you what else you got for me. Yeah, let's take a look at this. This token works. Funding works in a team that that I the one that meant. Oh, I missed that. I wish I did. Yeah, the one Eastman. Yeah.
So like I I saw this on my timeline on Saturday and there was like. The. And I was like, oh, I'll take a look at this later. And then Saturday evening I was on, I was online and it was minting out. So actually I did grab 1. So disclosure, I've got one of these, but what's like the idea here behind this, this model is to back creators with ETH in a in a new way. So like these, you're buying these antes 1/8 each. They're soul bound, so you can't trade them less, less speculative.
You are able to burn them to get your ETH back over like minus whatever the the creator has used so that the creator will be able to unlock the ETH rays via the NMT sale over time. Like 7% unlocked immediately and the rest like streams unlocks an investing model streamed over time. So they don't get all capital upfront.
So I think how it's different, no flipping, no secondary market, there's not really a whole lot of like promises of of return, but you are effectively betting on this creator versus betting on a specific product or project. OK. The first project is called Funding Works and the idea here it's a they call themselves a studio for on chain financialized art and the NFT holders will be able to help guide the future direction of of
the studio. So I think the idea is by supporting that collection helps. I mean, in some ways it is kind of like a Kickstarter model I guess. Interesting. And I mean, it's kind of dancing around like the whole securities, what's the security, what's not a security conversation. But the idea would be as they roll out new projects, new products, as an NFT holder, you would get first access to that and would have some ability to participate in potential upside there.
So it's a new model. I saw a lot of folks kind of rallying around it, so it's going to take time to play out, but I think it's one to watch, you know, and then the group is doing something a little bit different. So I think and just put it on your radar. OK, good. Good to know. Good to know. All right. Well, there's that. What else? I think not much the believe app ecosystem and it's surviving. So I think a lot of, I think the cause of its death were perhaps
a little premature. Yeah, I look, I don't, I don't have any skin in that game. I was away. I missed the whole move. But I I, you know, it's such a classic to want something to die this second. It's launches in the space. Can I just do my my little bit on on this? Please go ahead. I think we, we, we spent this whole last year, last couple years, folks want more apps in crypto.
There's not, there's too much infrastructure, There's not enough to do. We have a new app that's trying to attract real talented builders from Web 2 and bring them into the crypto space. And everyone immediately seemingly gets up in arms. Now you're just coming to extract from us. This is not the way we want it. And I don't know, I feel like this is if you, if you want new crypto apps and products like this seems like a decent way to do that. I'm not saying it's the perfect
way. But we've already seen more like of this, of this cohort of builders come and flock to crypto in the last week and a half. Yeah, I think we saw like in in months. And I've seen the argument that it's, you know, we want more
crypto natives. But if you want to grow the pie, if you want to make this a larger pond, you know, with, with more players, I think you have to figure out ways to attract folks from, from outside our core bubble to bring new ideas in. So I think my, my, I'm not saying go buy it. I'm not saying it's worth $200 million. I'm saying maybe just be open to it and just like let it play out for more than a week before you condemn it as an extraction scan.
Yeah, you know what it is? I think it's the, I think it's because everything does need a token. And I think a tokenization of it is what leaves people feeling some type of way like kind of like gaming, you know what I mean? So I agree with you, by the way. Then that's why I made the comment I made.
So everything is something new. We feel the need to like bash it. But then I look back at like crypto gaming and the reason why gamers hate it is because people, people game want a good experience, right? They don't need the token. And then when you tokenize the game, it could ruins the experience and it brings all these farmers and also it's low quality very often. And then the whole game is led by whether a token goes up or
not. And the second the token goes down, the experience goes down with it. Same. You could apply that to product and it's like, hey, could we argue that these products don't need to be tokenized in the second? Like why does this worm game need a token? And why does the worm game that you showed me last week need a token that's worth of 20 mil? It's supposed to be honest, it's probably worth like it could have been raised at that amount,
right? But again, if people want to speculate on it, it's their problem. So there's both sides of the metal too. It's like, yeah, sure, it doesn't need a token, but also, hey, there's a token in case people want to speculate on it, which pays attention because tokenization is just a tension, right? It's just, it's just a marketing material. So and then, but The thing is the worm game, let's say it's really good and it breaks
through. What happens if the the guy keeps building, but token goes to 0 people start paying attention to the thing, therefore the guy stop paying
attention to it as well. And then there's the other part of like what people will say, well, yeah, the believe app, you know, you're saying there's a lot of great founders is trying to bring forward Tyler, but you could argue also it brings a lot of like failed startups that are just trying to like it's like, hey, like I I fucked my startups to failure. Let me just like relaunch it as like a believe I have token and get people talking about Internet capital markets again.
So it's a weird thing, right? It's like, I think it's like, I don't know whose fault it is. I don't know. Is it the participants? Is it the people that are pushing the narrative? Is it the like that? No, kept my finger on it. Yeah, and, and there's a lot of noise There's I'm looking at there's 21,000 tokens I've launched. So of course there's about
21,000 good products. In fact, I mean, there's, there's probably a handful, right, Probably less than a dozen like what I'll put what I'll call good apps or products, but that's still a a decent amount to be added in this ecosystem in just a a short period of time. As for why you need the token, I mean, you need some kind of incentive to get these guys in the door right to, to come
launch on this app. And if you, I don't know, maybe there are better incentive models out there, but this one seems decent and it is at least working here on on the short term to get folks in the door. But at the end of the day, you need the apps need to be good or else it's just like a House of
Cards, right? They they need to be good apps and they need to figure out some kind of integration that makes sense for the potential token or or way to have a community of token holders be engaged in the future of the app and. Yeah, no. One's unlocked that yet, but it's still early. I think my my whole point is just give them time. Like let's see if someone can figure this out. Yeah, yeah, that I agree.
I guess we'll see, man. You just did a few that stand out and it's done, you know what I mean? And also people don't have to buy them all. So it's also the participant. But I think it's crazy to try and knock the Believe app or something for trying something new. Like this is cool. Fuck it, you know, it's bringing attention to it and that's that. You know, it's like a pump fun, but for it's a pump fun but for
products. And I don't argue that you shouldn't be buying any of these new tokens until you've had a chance to like. Yeah, but you know, people don't do that. You know what I mean? You don't and just don't complain. So then then you're just playing a meme coin game. Yeah, just another game you're playing. And it's a it's rocket game. In a way, that's kind of what I like about these things is that you can play the game different
ways. You can be the investor that looks into it and decides to take a position, let's say a week after. It's like, Hey, I'll buy it at like $10 million market cap, but like, at least I'll go with a good position. And then because I like the product, you can be the mean coin gambler, which is like, fuck it, I'll buy 21,000 tokens. Like I'll just buy them all and see what sticks. And then you can be just the sideliner that just like, you know, just looks at it and see
if it sticks. And then just in this invest in the believe app itself, like the belief token, right? Was it, what is it called? Launch coin? Launch coin because it's the, it's the launch pad for it. Also, it's interesting. We'll see if it sticks and I hope it does because you know, we need more of of those things on, on your first year.