Yo-yo, yo-yo, yo, what up? What up? Good morning. Good morning GMG Ham, Thursday September 21st, 2023. Look at that. Another beautiful day to have a beautiful day. I think it's today, the first day of of fall. Or is it tomorrow the summer end on September 25th or 22nd? Ohh you made it mind up 22nd. I think I read 22nd on your on your lips though. So what you said? I thought it was today. I thought it was today, right? It's 21st, right? So that could be the equinox.
This is one of the equinox. Right. Is it the equinox? No, I think it's summer. Yeah, Summer solstice. Summer Solstice, Solstice. So as 23rd this year that it ends all right. We got two more days of summer I guess officially. So it's still launching summer for two days and then two days
it's no longer launching summer. It's going to be a what do we think is going to be let me ohh did everybody just get you guys all got booed off stage just now rug radio mando and and and everyone sorry I don't know I just did that but anyways yeah I guess two more days of launching summer. Two more days of whatever, some redacted you know your bank summer until you know something fall happens and what what what's coming in the fall. Like what are we naming this
fall? Survival. Just. Yeah, just the full. The full. Please note my bags. Honestly, please know I was going to make a full joke as well And I was like, yeah, maybe not. You know, I don't wanna. I don't wanna call that. But yeah, the fall. Ohh, 95% fall. No, no, we're we're long right now, OK. No, not yeah, right now we did. I did say we have two more days of summer. So it's OK make sure we close those before before the 23rd, right? There's going to be something fall anyways.
I got my calls in the house. I know Obi is flying again, like always. Always flying. I feel like I've travelled more than him this month, but he's managed to fly more than me. This is wild. It is very fine for next day but but we do have we do have Plan B over here can Canary labs has like this like long road of plans right. You know men does not there is gonna be another one right. Isn't it scary? Just like it's just plan ABCDEFDI was gonna run down the
red guy. Well, I feel like I'm just the bench warmer for everyone here, like I'm the I am plan BCDE. FGH, it's so funny with the with the with Debbie. Yeah, I guess like ABC would be OV locks and I, you know, I think I think I would say Mika still differ now and you would come in in in position, you know EI think for now Kelly, how's that feel? I appreciate you taking that actually and taking it like a champ, you know, but today's a heavy macro day which is probably why you're here.
So anyways then the show today, today, today's a top four because we don't have a guest unveiled at ART coming at the end with Dave Krugman for quick little 10 minute segment. So this should be a good one. Remember to get on the phone call with them I think a couple of weeks or month ago about what they were dropping. So it's actually pretty cool. But anyways, top four of the market, the Fed, Fed, Spooks, the markets. I'll let Mando and Kelly take
that on for sure. Then 95% of NFC NFT heard zero. I mean there, there we go, here we go again 4/4 like all the articles coming in strong got, yeah, I think we got ripped by few of them over the last few days. So listen, the entire market is a zero apparently. I mean 95% does add up, but we'll talk about that later. Frantic, frantic competitors on the rise. Ohh, that's probably why my, my shares are that my keys are down like almost by half, right. Like that's totally why that's
these cues. So you know, yeah, exactly. So a friend, tech competitors again, competitors, everybody trying to copy something that seems to work, but we'll see what what what happens. And last but not least, Dolly 3 launches with some cool stuff to talk about today and with Alfredo, Mando, Mando, Mando, Mando, once you get started with the first topic and what is going on in this market. Man, the Fed really did a number on everyone yesterday.
It was feeling a little bit heavy going into it and then volatile during the press conference. But then the the takeaway seems to be that they are going to keep rates higher for longer, which is kind of what we thought but they didn't, They might even raise rates one more time. Now the markets like only 50% believe in right now. I think it's like a still a 5050 bet that the market is predicting that rates are going to increase, but.
But yeah, it was more hawkish than I think even people predicted and now you're seeing like multi decade highs again in bond yields. We're at the highs from about 2000 and seven 2006 in some cases. So really, really high bond yields stocks have not like that overnight and yesterday they were already on a downward trend
and down for a few weeks. But they really did cute yesterday and they've opened up week again today I think down about 1%. I I was a little bit surprised at how badly we reacted given how hawkish everyone was already going into it like positioning was was kind of set up for this. You know, strong strong dollar yield, selling off stocks being weak. I mean everyone was kind of position that way for a few weeks.
But yeah, it's definitely, definitely spooked the markets and crypto was holding up OK up until about this morning and then people started throwing in the towel a little bit as she started dipping even further lower. So Bitcoin still hanging out around the support level, which is like 26600 ETH has kind of reached. 1600 is now 1585 roughly. Um, so yeah, weekday probably about down about two or 3% and Bitcoin has been outperforming.
There were some, there were some stories there that the Mount Gox. Repayments they they are going to actually be at the end of this year or they they could potentially start at the end of this year. They were the end date was delayed until next year but they
could begin this year. And I think the, the rumour was yesterday that the whole thing was going to be delayed till next year and now it feels as though that may come slightly sooner, which may be caused people to to feel a little bit weaker about upcoming supply and some of these things. But yeah, not not a pretty day across all markets. What do you? Think. What do you think? Yeah, I was just gonna say, like, why sell now? I don't really get it.
Like, especially in Earth, Like, I don't understand the big sale pressure there. Like, it feels weird. But on the Fed, it's just like. I think people think that that they are confused. the Fed is confused like if it's if it's they're saying it's a soft landing. If it's a soft landing, they don't need to drop interest rates again. But inflation is still high. They're worried about oil, so maybe they need to put up rates again. I think that was the takeaways
that like. I thought just like the Fed has no idea what it's doing. And that's like not ideal. Yeah, I would agree it was a confusing narrative and even the markets like even though they said they might raising it raise rates again, the market hasn't really fully believed them. Because of how confusing it is and and inflation have been coming down, right? Inflation coming down across the
board. The only real risk here has been oil, which is creeping back up again, but then raising rates to fight oil. That seems like a losing battle, but. Yeah. I think this whole thing has been a losing battle though. This whole thing has been supply side inflation or some of it from COVID, etcetera. COVID shipping prices, all of this stuff goes into inflation and you don't really temper that with interest rates. It's a good probably made around the bed, the meetings today, right?
Because this time, usually it's Tuesday, Wednesday, but this time around you guys were talking about how it was actually Wednesday, Thursday, so the meeting. No, normally Wednesday, Thursday to this week it was. That was it. That.
Was the press conference yesterday and he was particularly the actual statement wasn't that hawkish but the press conference was Goldman have come out and said they don't think he's gonna raise rates again and obviously going into an election year he's probably it's it's a more difficult. Period, often to raise rates under a lot of pressure to do it particularly because things like shelter inflation have been coming down so aggressively. It seems maybe a bit much to do that.
But yeah, markets did not like it particularly tech had been wobbling a little bit for a few weeks. Things like Cambodia we spoke about yesterday that kind of breach below some of its moving averages and and all these technical sellers started coming in so slightly weaker period. What I would say is that gold held up pretty well as and the dollars obviously. Rising even in that scenario.
And so the idea of that's kind of what we're seeing in crypto as well, the digital gold version Bitcoin is holding up much better than let's say the digital utility token or digital stock like token, which is, which is. So it does feel like Bitcoin outperformance could be a bit of a medium term trend here if if the markets are or the stock market remains spooked but people still want to have inflation hedges. All right, well, I guess we'll see what goes next. Fed meeting scheduled for
October 31st and November 1st. So it's Halloween. That doesn't bode well. Stop it, Cali. The full thing. And it's in. It's during the fall, so. Pair of Canary labs are you are that's I mean do you think the generations that does need one bear especially with two GB perma giga ultra bulls. So it's I guess it's not that bad a little. I'm like a pathetic bear. I put a bear thesis out there and then these two guys should trample all over me. And then I'm like a reluctant bull.
I love that. That's so funny. So we'll see if I'm not mistaken. I know that's not my fault everyone. FDX you've gone through lunar, you've gone through three AC. Fucking me, you as in the market I. I know the whole market has gone through that and now you're going to sell a stock market up this year.
Like I said, it just, it perplexes me that people think we're gonna go close to like the FTX loads of the year that I I think, I mean, maybe I'm going to be wrong here, but I think the local laws are definitely in full for Bitcoin. I'll take that. Here we go. Here we go. Yeah. 95% full.
Honestly I've got one bullish tweet yesterday which was which was to do the idea that I thought we could decouple from macro here just particularly in Bitcoin because so many, so many short term sellers of like capitulated over the last few weeks. And I think 80 or 85% of all Bitcoin now is in long term holders hands at the highest ever. But one bullish tweet and you just get tacked. It's like, ohh no, you're an idiot. We're going like 3040%. Ohh, like the world's about to end.
I know it's crazy. Yeah, don't bulb. I mean if if anything happens. Yeah, don't you gotta fly that flag. I'm gonna like the post right now. You like the the person on the front of the miserable like poster with that flag just flying the flag for the Bitcoin bulls I. Somebody's gonna make that. He's gonna. Make someone yeah, someone's gonna make that someone's gonna do it right. Someone. Someone's gonna be that person, right. We try we try a lot It's it's it's tough.
But you know I think the other thing to keep in mind is also October is gonna have the second deadline for DTS right. Which obviously we're swimming is gonna be pushed again and so. This could get much. Remember the government? the US government shut down in the next week. There's a lot of talk about it that shut down. And that would be in the SEC shuts down, so there could be a technical wait. They need to get like funding to keep the US government open. At the moment it's it's a it's
like another debt ceiling thing. But and it looks highly, highly likely that the US government is going to shut down as in like government functions. You mean the government shut down like the government shuts down. There's no more government. A lot of different departments will shut down. Yeah. OK and. That you need to have Republicans. The House Republicans and Democrats to come to some sort of agreement over it, and it
looks unlikely that they will. But this is also a split within inside the Republican Party and if that happens, the SEC is shut down. So they will. They will come up with some excuse while they can push back the the review. If they're shut down, though you could argue the glass half full is that they can't fuck with us the same way they're going to. We knew they were going to push it, yes, but if they're shut down they can't really do the negative. Some people like they might get
approved next month. Some people thought they might get approved. I yeah, I mean we we saw this chart. I was like 75% in the year and 95% of next year and and the next and the next and the next one is after this wave is going to be the third deadline which is there's one of them on 1111 but the rest of them are all January 15th, 14/15/17 and then we finally lines March. So even we zoom out, March is not that far. Like you're going to blink and you'll be March classic.
Like as soon I feel like as soon as like like it's always like that though. Times flies anyways, right? It's always like that. And then you gonna play again and eat this 5K. There you go. And then again. You see this? I got 170 K. My girl. My girl. Yeah, that's that's my girl, right. She That's either big one. If you asked my dog right at home, calculate my bag if it was 170 K just so I can dream for a second. OK, so I have two E total in my Ledger.
Like it's going to go to 170 million, $170 trillion market cap? No, no Metaverse. This is the Metaverse. And then they backed it out. That's what we think, she says. Some wild shit. But you know what? That's my girl. Like I'll. I'll support that. So yeah. I mean, it's in these in technological pursuits, you gotta have dreamers, in the words of Kanye West. Aim for the stars, so if you fall, you land on a cloud. Nice. You know, lots of Kanye West anymore.
He's a big guy. Yeah, I'll play with you. But anyways, second topic of the day, I mean is that are you guys good with the market roundup whatnot? Like I think, I think that's. Yeah, everyone feels a bit crazy today. That's basically it, I think. I think. I think I bought some. As you know, we saw that in your contact chat. I I think they went out performed these. So if you're only, which I'm sure everyone does, it could be
a little bit tougher. I think over the next few weeks that makes sense, it looks much weaker. But anyways, topic topic #2. It's actually four more NFT headlines. You know, 95% of NFT's apparently are almost at 0. So the headline just goes straight to the point. It says remember what NFT's sold for millions of dollars. 95% of the digital collectibles are now probably worthless. Of course, a few months ago when I would see this kind of headlines, I'd be like, well,
not really. They're not accurate. But then I open DJ's finance. I realise they're not that wrong because the 5% that we're gonna name ohh but the fence is 100K but the points are still 83 four K, the apes still 40 + K But it's true that the rest of the market is not is not performing that well. Just ironic when you compare
articles from then and now. Like remember that someone made a tweet about the Rolling Stone article from Dan saying the party PR club is like some massive thing is gonna crush it and now like NFT's are absolutely dead. So I think it's ironic to see to see the articles, but hey, this is how Web 2 media makes their money, OK?
It's by taking the, you know, following the trend and also very often having headlines that make people get angry so we can talk about it. This is a cool picture at Times Square though. So anyways, they're saying most NFT may now be worthless Less than two years after a bull run in the digital collectibles. A new study indicated that 95% of over 73,000 NFT collection had a market cap of 0 out of the top collections. The most common prices for an
NFT is now 5 to $10. My question to both of you beyond you know what your thoughts are is shouldn't most NFT in the 1st place be priced just as 5 to $10 based on what they actually provide? Like do we need more? I think something we talked about on stage that consensus remember OV yourself, myself and were like look like RFC aren't that expensive and they get you access to XYZ in new year. Should they be even $30,000 floor right.
So it's just you know my question to you guys is, are they is this is the market down bad or is the market actually starting to finally be priced according to what it should be priced? I think it's a bit of both. I think part of it is that, yeah, NFT's by nature we've all been saying like it's the technology will survive. We're going to see hundreds like 1,000,000 billions of NFTS which are just worth nothing because they are just.
To perform a function rather than being some sort of collective or and I think you'll see lots and lots of that. And I also think yeah obviously stuff came down. I think it's it's too easy. Just like dismiss this is like this is just a fight article though if you go to the end you can see the market cap of NFTS since the start of the year. I think we started the year about 6 1/2 billion. By Q1 when Blur was going on, I think we peaked around nearly 10 billion. So we're actually up in Q1.
I think most of that was the rise in ETH over that period and now even with ETH up 30% or 35% year today and if these are at 4 1/2 billion, so. We are down about 50% just in NFT's and that's and then ETH that's up actually have that period. So it's it's been a really, really horrific year. I think for value being created in the NFT space you can't just like dodge that but I don't think it's maybe surprising, right Like yeah 95% of staff was
meant to go to zero. I think everyone kind of agreed on that. Even during the bull runs, you would just hoping that yours was the thing that didn't. Yeah, I remember Gary Vee saying that every other day. You know I don't want. Disagreeing with him. He always says that I was so right as like no I don't think people were actually thought everything was gonna be worth hundreds and like millions and millions and millions.
But I do think people thought was that they hoped their thing would be the thing that survived. You know everyone knew they were they were taking these bets. I think. That you know, stuff. Collectibles aren't easy just to create out of thin air. You know so. Yeah. Yeah, go on, Kelly would. You. Yeah. The other thing is I which is interesting is that this that stat was actually true even in the bull market, in that like so many people created shitty, fake, scammy, pointless, whatever.
The collections on Open City, which remained unsold and were worthless even in the peak of the bull market, something like 80 to 85% of NFT's had never sold because people minted. People created them and tried to sell them and they didn't work. So it's not. It's not that much of A. Of a move from the previous state, even like the bull market, but I think even if you isolate the top collections as Mando said, you're still been a tough year for value creation.
The headlines obviously like click mate, top selections are are down a lot but and I agree, I agree with you guys in that like this is just the evolution of the market and people took that risk and hope that their thing would be the thing that would survive it. Some did, some didn't and now we're kind of entering that phase where it's more about like sustainable value creation rather than I buy this at 100 grand, hopefully it's going to 200 grand, we'll never know
because Disney are going to make a cartoon and or whatever. So yeah, it's pretty hard to argue with the the sentiment, but it's like a bit misleading and it's like use of stats I think. But it's definitely been tough. I mean they love using the same examples over and over again like they love using Steph Curry, they love using Snoop Dog. But this is actually, you know what, this Gap Gamble. So they basically that article.
So the articles are always like click bait, but when you click on the article and what they're sourcing, it's actually this, this debt Gamble report. That's what I've been sharing on the screen now. Yeah, you can. Yeah, you can see it. And actually it talks about the current state of the NFT market and so they really went deep into that. So it's like the statistics effect. So this is the thing it's like.
The the statistic effectively means that 95% of people holding NFT collections are currently holding on to worthless investments. Having looked into the those figures, we would estimate the 95% to include over 23 million people who invest whose investments are now worthless. And they talk about ownership, percentage of currency of current NFT collections, so number of partially and fully
owned NFT's. So you have a bunch of those and then you have another one on more than 1600 top NFT's listed are dead. Number of NFT split floor price. So it's a look, I think it's a step that makes a lot of sense and I think we all usually tend to agree when you talk about how we need to, you know, the broader market to recover before we see any sort of a comeback like unless you're in a Raging Bull like. I don't see it. All this crazy. It is crazy.
Like every month or every couple of weeks I'll go through and I'll just like clean up the decisions that we always add new projects, but often, like get rid, we'll get rid of old projects, OK? And it's crazy how many projects I'm just getting rid of all the time, just like projects you've heard of. Just like they're now worth nought point nought 1 or nought point nought 2. And they're just not relevant anymore like no ones, no ones looking at them. And they're amount of money.
Those raised it Always. Kind of. Slightly infuriates me. Like if you do it by. Yeah, it's it's just it is it is nuts. I get it. I I definitely feel. The same many of them. But like, it's not your name and shaming thing. It's like a market thing. Like, it's just crazy crazy. How many, how many projects? I'm just like clearing out that we all remember from the bull market. Yeah, I mean, it's absolutely crazy. But look, I I don't think, you know, this was the first NFT bull, right?
I think I was about to say the exact same thing like this happened when railroads were invented. This happened when any technology, new technology is invented. Like it's a combination of available capital and over enthusiasm about the future impact of the of a certain technology. Stuff always goes crazy and then and then it goes through like a kind of disillusionment slash bottom of the of the valley phase and then it comes back to be something useful and I think
we will see that. Yeah, but they don't. See also when you do these NFT stats, is that all the NFM efforts now treating friend tax so you could argue? Out of the NFT people their money is being used on frantic. How much of them, those millions of volume is attributed to NFT people or shitcoins and stuff. So obviously like I haven't seen my personal behaviour shifted towards me and cornered corners for a very long time at some point and then towards some
friend tech. And obviously I'm not buying NFT or if I'm buying NFTS I'm looking maybe one day to add another punk or like to add some stuff. But short term it's like, I'm like, what can I do with that 10/20/30 Fifty 100 E? Versus like holding the earth versus trying to you know, versus trying to you know go into other investments and whatnot.
So it's normal. I don't think it's, I think it's pretty much expected and there's definitely going to be a lot more pain or such like crab or like you know sort of like that impatience feeling in the NFT market. You know it's going to be frustrating when for a lot of people in that were deeper NFT's when Bitcoin and crypto in general starts rallying. Perhaps Q1 of 2024. Maybe I'm wrong or maybe 2. Between then you see that not all your NFT's are rallying. It's gonna we're gonna get to
that too. I don't, I think NFT pain. What do you think just NFT market we're still in for a little bit in terms of like? We need crypto reverse. We really need to be changed. But Speaking of friends, we should go to the next topic, which is what's been going on in contact. And as you said, everything's down like 50% it is. It is part of that 33 narrative coming out, but then there was quite a lot of thought of of
overnight there was. There was one tweet or whatever you post by OX not gonna make it, pointing out the security flaws of French tech. There was a recent hack on balance on their DNS hack on their front end and he's basically saying if that was to happen to French, it could be really bad. Basically take control of your accounts and remember they you set up your they set up their own wallet. So it's kind of similar to like a discord bot or a telegram bot where they have the private
keys. So it can be. Just be aware of that, like maybe you don't have your life savings on your friend's account, so you know what I mean. Yeah well should we be taking some off like cuz I made a considerable my money on the fees right? Like should you be like out of precautions? Unless you're gonna do 3/3. Well, you do through the entirety of your feet. You spent 173 three. I think I spent the majority of it at the time, yeah, obviously I didn't.
I I've, I've got, I've got fees now, but the. Yeah I think just be aware of it like it's like a it's like a uniball or banana bar or I mean we just saw one that the non bot got hacked right. Like these things are their own private keys. So you have to be careful about putting lots and lots of because people will actively be trying to come for it. That was one. Second thing is there are a number of different sectors
coming out. I think Hunter Hunter Solar, he put out a good tweet today, maybe should bring up him. Him. OK, let me see. I think he did a good one of all the different competitors which are coming out. Friend tech, here we go. Yeah, there we go. There's one on Bitcoin. When I was using, there's one Solana. Yeah. Yeah, it's crazy. They're all classes and people are saying particularly this this third one, this post tech on Arbitrium which is mixture between like Twitter and friend tech.
Point by post on their platform, tagging them on X, invite some friends trading or holding shares. And then you get paid a proportion of like 100K per per week. But what you're seeing here is, is a tax on the model. We've seen a couple of these already fail before. My view is it's a little bit early to vampire attack. I think people recognise that it's beneficial for everyone to be kind of on the same platform. So it's almost like doing a threads, you know, like.
Unless it gets critical mass of people going, no one really wants to go. But what I do think is that this could force the hand of friendship to reduce the fees. Like suddenly if it becomes a more competitive landscape and you produce a pretty similar sort of vampire to friend tech, I think these this 10% fees are now is going to be it's going to
be challenged. So it will be interesting to see if they keep that up in. I think the one thing they have going for them is that like the private chats are good in terms of it's way less spammable than like a feed like a lot of the other ones are more feed based which just like. You don't want that. Yeah, I totally agree. But yeah, if it kind of reduces fees, then I think that's great for users as we presented what. Users or traders? That's so paying less if anybody paying.
Less over here all over again. Blur came in open sea. Lord Fees NFT went to 0. I think they need to have royalties. The only reason people are royalty platforms? Such a perfect example of why royalties were the fucking the the technological innovation here is that people are incentive driven.
Like if you take away the incentive structure, use the platform, the actual content, the value bit of it, and you just turn it into another altcoin trading house, then there's no real value of the product. So. Or at least has no incentive to keep that value of the product. And that's why I think NFT's run in a tough spot. But yeah, I think, I think we need to keep the creativity. Or at least you're gonna reduce it proportionally, make it less on the courtesy.
Yeah, because if if you remove the creator fee, then creators obviously have less of an incentive to like being on there on both ways, on the buy on the South side. And then maybe, let's be honest, like a lot of it's driven by monetary value, right? A lot of people spend time on there, they're making bank. Like I think a lot of people wouldn't be on it on this because if you want to not make money, you might as well be on Twitter or X.
So it's going to be interesting. I do agree with you though, Kelly. Like if you're going to, if you if, if you're going to be, if you're gonna be like copy pasting Twitter and just creating a feed, then there's absolutely no point, no price. Whole thing, I don't get it on Bitcoin question like strength. I mean the Bitcoin one, I also agree with you man, looks like, I mean aren't like fees even more important and expensive on on Bitcoin?
So that's that I could see a Solano clone, Arbitrium clone sort of like pick up, you know because it's thermal tools and it's kind of like that's how prediction based. Yeah, he's allowed. They're only they're only briefly high during that ordinance period. But. Has has largely decreased so bit Bitcoin fees are are much lower. Yeah, I mean we'll see.
The thing is, like I'm I, I would be wary if you're in the audience, like putting like if they if your competitor comes with a coin right away, stay away. Because that means that they're using their token in order to drive mass value to it right away to lure you into it and therefore the whole platforms success will depend on that token so it's going to go to 0 eventually.
I think the dangling the carrot thing is what's worked very early from France which by the way tomorrow's like you know points day again and everything so there's that So you know I I I got remember it was like what the shares thing whatever a few weeks ago they had a shit coin it was time for I was like ohh French competitor narrative people were fighting frantic let me just buy something. To see if it works. No, it wasn't zero within six hours or 12 hours.
I don't even know. But I I definitely lost. I I definitely was on my money within that day and whatever, right? But it it I would, I would be be wary of him. Obviously be curious. But they have to be wary of competitors because everybody thinks they can come and redo it and like it doesn't mean they're going to make it happen. You know what's funny? Speaking of that, like I was thinking so deeply last night and we can maybe maybe we can riff about it another time.
But I saw like all these the the chatter about PFP's and their floors and whatnot. It made me kind of like chuckle because I was like everybody thought they could build the board of your club and looking back at it, absolutely nobody. Copied the boarding Yacht Club like a lot of people, even in chats, were like, yo, Gordon guy and Gordon like get those guys, they I could build a board of young club. I could build a PFP company at the end of the day.
There's nothing. Aside from Luca, that's killing it. And the ones that we talked about often, but there's much more substance. All the PFP collections that I thought they were gonna be the next 40 PR club don't have or even close and we'll never become that. So anyways, my take on the frantic stuff, I don't know if you guys, anything to add before I go on to Dally because that's you. You know your Dolly stuff, man. What's happening on the I front?
Yes, Dolly 3 now. Three years out and this is remember everyone was went nuts for Darling Two. We've also had stable diffusion which had another upgrade recently. But daily 3 is going to be a mixture between. Basically this is obviously by Open AI. This is the company that's also behind. ChatGPT, and it's basically going to give you a. Allow you to do kind of chat. GPT style prompts for image creation.
So I haven't. I've yet to use it, but this this feels like it could be a very big upgrade if they are allowing people to. I think the the big upgrade for for our ChatGPT is its ability to understand perhaps the concept that you're trying to get across far better than other alms have before like you can give it a prompt and it really does kind of get to the heart of what you're trying to say. And I think that's the that's maybe a big step forward for for Dolly and for general in general.
So I think it's going to be, it's going to be interesting to see that this, this obviously. By Open AI and stable diffusion seemed to be the top two. Stable diffusion interestingly had been. I think most people were using that more than Daley recently just because the quality had been better. When you speak to AI articles, I think a lot of them were using stable diffusion that maybe this now means people shift back towards Dalai. Yeah, interesting. It's true.
Most people around us at some point, it was Daley was the big thing. I remember everyone was like trying to use Dally or trying to get into the to the. It was like gated at first, right. It'll get accepted and everything. And then they went to stable division, but it says you open the eyes. Dolly Three is an art generator. Power by ChatGPT Open Air has launched Dolly Three which uses Chachi PT to take the pain out of prompting.
Now you can modify artwork by simply talking to the chat bot. Have you guys create any art using using Dolly at all? I have never. Actually try it. I used Mid Journey which is like a Discord based similar thing. So I think this is better than it's like web-based and it's functional with TPT it's much easier to use, et cetera, et cetera. It's cool, it's novel, but for like I don't a lot of these. I struggle to find like very
clear use cases. But maybe that's because I'm not in kind of art or graphic design or generating images or whatever. It's like. And I think you saw this with Open AI and that the interests massively spiked. And since that initial spike, it's basically tailed off. Like everyone used it in that first couple of weeks to create a poem in the style of like Snoop Dogg mixed with Charles Dickens. And like, it was really fun. And then you sent it to your mum
and dad and all this stuff. And then since then, I've not really like. I've not used it as much, but also total usage and total interest and amount. It's been googled and every metric you could think of is basically been dwindling lower. Kind of like a shitcoin chart, but something different. He's actually right. Maybe this might be the same, I don't know, but I guess it's fun. I guess it's fun. I like that. I I'd never really say I tried
it 2-3 times. I was like, OK, that's cool, but I don't know, this is like, for now, Google. Still do a lot recently. Increasingly people are using the tech, but they're using it in their own applications. So like you're, you're going to start using this sort of these sort of models without realising you're using it, rather than just going on to their website. It's like, right? It's going to be integrated into this app or this? App. Like Google did.
That. Yeah. So we did that with the creative. So though usage has gone down by those metrics, other metrics say it's gone up massively because it's now been put in a bunch of different applications. That may mean that you just use it, but you're using it seamlessly. Like if you Google that makes sense we. Often gives you give you. Mine has like a chat to PT thing, and whenever I'm on when I'm using Google Docs now, it does stuff like that. You're just using this sort of
stuff now. You didn't realise you were using it rather than having to log on to the chat. The JPT website to use it, I only use archives. It's it's probably gonna be like. I don't use either, actually not used. I intend that and I had a bad experience. Ohh, so you don't use Google because you had a bad experience? No, I just. And it's an evil company. But they should definitely. Maybe. Well, hold. Hold on, hold on, hold on. Well, I I know we gotta go to
unveil art and. What do they do to you? What? What did I don't think people understand the like how the Google model works in terms of monetizing people's like attention and eyeballs and search results and stuff like that fully. Hmm. But if they want to sponsor the show and right their wrongs, then that's fine. Ohh yeah, let's go. I love that. I love that. That's that was so good. Yes, Google or Alphabet if you want to sponsor the show.
Holly would like you again. Alright so so so do something and and and and figure it out on that front. But yeah, look we'll see these vestments of of AI and whatnot. I just. I just love seeing default cows. Opinions are his own and not of the shows, no. We can opinions on. A ticket that goes below it every single time we speaks. Ohh, I'm good now look, my bio says opinions are my own. Now you see it, opinions are my own. My my bio says this. Yeah, better versus just created Metaverse.
Just reply Google, please sponsor. When we asked GPT or barred how to get a sponsorship from Google for the morning show. You know, hey Bart, tell me how do I get sponsored by Google for the morning show. And. And we'll see. We'll see. We'll see what happens on that front. So maybe hey, you know, shoot your shot, shoot your shot anyways. Well, exactly. We'll see what happens. Anyways, we have some guests today for for the end of this
show. Some friends of ours unveil their art and of course, I mean, come on, Dave Krugman. Dave, good morning. How are you doing today? Paperwork. Good morning, man. How you doing? Yo-yo yo-yo, what's up y'all? Yeah, not too bad. I'm very good.
Thanks for for this opportunity and yeah, let me let me just take it from here and explain a little bit why we got on your show and and things of all thank you for for organising this and and doing what you do. So Unveil is really a platform that seeks to democratise the art photography industry and with that I mean fine art. So basically what we see in the art industry, which is quite an established world. First of all, most artists really can't make a living
selling their work. So this was our first problem. How do we solve this and how do we get give the the talent that does need to have some sort of voice and some sort of foundation to get seen. How do we give them that? The second thing is we believe there's a new generation of collectors that are not going to galleries on a monthly basis, right? They like to procure things online. So the art industry is.
Ancient It's still in its mediaeval times, but we believe that through a platform called Anvil we can democratise this world. So we are actually now at in Amsterdam in one of the biggest fares for photography where inaugurating a drop with famous art photographers but also help talented artist and and sort of have them piggyback along for the ride. I love that. Speaking of talented artists, I mean, you have very talented
artists. I was just with Dave in the in Seoul. Dave Krugman, how are you doing first? Question then. Good. I'm actually about to take off on my second connecting flight from Martha. So very excited. I just. I just walked. Past D. No way. A lot of us are on this plane, so sorry for there's ambient noise here. You. But you. Can you hear me? Yeah, we can. We just, we we we we're getting the full, you know, rundown of how the security measures on the aeroplane right now.
Make sure you evacuate. So there's two doors on the the. I don't know what you're flying point and grayer, but there's two doors on the side. Please follow the lights down the alleyway. And please do not take your personal belongings with you. I think I know by heart at this stage. I think in there by heart. You know I love that you know this probably so many NFT M efforts on this man's flight right now.
I mean this is this is like this is like a it's a it's everyone's out there it's this this next three days so excited to hear what happens and comes out of Marfa. Seems like he bumped into these everyone's flying through Paso right and they have to drive for a few hours. No locks. He's on his way. He's probably driving right now from Austin, TX, getting more
form already. But let me go back to you unveil and and maybe talk about like you know, you know, obviously just presented your platform to us and you mostly focus on photography and I know for a fact that you know you focus on also. Digital and physical aspect with the prints and whatnot. So I kind of wanted to know like you know, what's what's like, what's it, what's new, right?
Like what? What's new, what's exciting, you know, with the, you know with with the, with the proposition that you guys have for like the photography industry in general. Yeah, thanks. That's I think so there's, there's two things. First of all, what we see is obviously NFT's and blockchain technology that they can deliver up on a promise for democratisation, providing provenance for for artists and for collectors.
But we think we shouldn't overshoot the whole NFT proposition and technology in itself. We always combine well we combine it with a physical print, so the physical print could send can get sent to your doorstep anywhere across the world.
And if you wish and choose to you can activate that artwork, see it like sort of a Trojan horse where people get on boarded onto the blockchain without them realising that they're using it. And I think this is sort of the key to unlock the masses is have them use technology, but make them incentivized to use it and and buy the product and that needs to be front and centre. OK. I love that and I totally agree with that. It looks like you've got a good lineup.
What who else are you working with? I mean, you've got Dave, I don't know if it's public yet or whatnot, but I know you got Dave, which is obviously loved these work. Yeah. But is there any other photographers that you've got that managed to to to bring on to that? Yeah, definitely. So we're working with world class photographers. We are obviously represented by Dave and his team. We're supporting us.
We have the director of Sotheby's who for photography and Emilia who's backing us and we work with really the established people in the fine art world. So if you go to unveilbaradditions.com, I think it's shared. You'll see some of the the names that we work with for this drop. The idea is to do a drop every month and then have a different theme for each drop, which is limited by time. So some of the artists that we
represent now are one of them. A Boy Scout founder Mola, she's, she actually published the best, the best photography book in the world I think in 2016. So a very recognised name. I heard you guys talk about AI before. There's another guy who is almost Aldorf, he works in combines his photography skills with interpretations of AI. So he has in this edition, he has like beautiful flowers that
are reinterpreted by an eye. Two which are then flowers then turned into the flower actually becomes sort of attire. You can see those or actually white duct tape. But everything is interpreted in a way which which represents the theme and we ship across the world to Farooq. So, yeah, that's that's sort of what we do. This is really cool. I've bought a bunch of photography in the past and like, you know, like drafting, but obviously you have a few trout. Trout. They're the drip.
Sorry. Drips from day. Also have the car one you know I love I love my photography collection when it comes to NFT so I like this I mean I'm going through YouTube screen if you're if you're on YouTube you know I'm going through the website right now and you can see like all the really cool like the branding is great obviously like you've seen like you have some big partners and and I I like that you just focus on a niche like I I really think printed
photography is dope. I I think more people want to buy art that's tied to physical here, so I I personally like to do that myself at all times. But anyways can want to ask you like how does the blockchain element? Work with unveil right? Because it's mostly focused on physical and like and try to art. So how how do you guys, you know implement like what three tech
into everything you're doing. Yeah so there's there's three products that we have and it shouldn't be like the whole proposition centres around the story of the artist. So how can we sort of capture what the artist does, make him tell his story through beautiful visuals and and sort of have a sort of museum experience but also have RP accessible.
So we we have art up which is 3 products, the digital digital edition Arts, which is an NFT's like everyone in the in the in this space and will probably know represents digital work. We have limited edition additional works which is what you would see in a gallery, but then as opposed to going to a gallery and procure it, you can go to our marketplace. So these are more limited higher end works which are more scarce
at a higher price point. And then we've got basically our main proposition which our line time limited prints which are an accessible price point because we want to have a new generation of buyers be able to to buy beautiful art they've haven't done before. Then the blockchain element sits in the fact that when you buy your artwork, you get a QR code attached on the work, you get your phone, you then scan the work and then basically you can activate it at work, you get
collective privileges etcetera. But you also make the provenance immutable. So the moment you buy it, you get a beautiful box sent to your doorstep, but that allows you to also then offer it back on our marketplace. So you can have a whole secondary sales market on our marketplace for, for instance, if an artist is at the beginning of their career, you buy for, I don't know, $500.00, but then they shoot off and become famous.
People can actually buy some of the initial works that you bought because there's now a central repository which we we refer to as the blockchain for work, which is not. You cannot tamper with that. So that's how it works. Start with unveil. You guys have like a whole course like how to create collections Minton FT get started as an artist. Then for collectors like what happens if I want to sell my print in the future who prints
the print think this is cool. Like I I like these sort of platforms that sort of you know educate the people. And so my last question for you today, you know it's very just like more more direct like you know how can our listeners participate. Like if someone is interested in this right now. I see some photographers, I see a lot of artists that listen to us in the morning shot to all the artists listen. She has a bunch of y'all. But how do how does you know? How can listeners?
Participate in unveiled dot art. Yeah. Well, First off, shout out to to everyone listening to this. And I'm by the way, this is not a way to promote the platform. It's really about the artist. So we're just a facilitator here and we want to support every artist to make a living selling their work. That's first and foremost. If you want to participate, you can support these artists that we represent. We actually have a very special coupon. We're for rock radio listeners.
So if you use Rock Photography 48 you actually get 48 hours of discount for 1010% discount on any of the the total order value of the work that you buy. So you go to unveilbareditions.com or just go to unveil dot art and click on the 1st chapter, the first chapters stillness and then use the coupon at the end if you if you find something beautiful and we'll ship it to you. Oh, OK. So Rug Radio 48 Rug Rug. Let me just check this here. Photographer Sorry. Photography.
Yeah. Photography 48, All capital letters. Rug Photography, RUG PH0T 0GR PHY Ohh 4848 for 10% discount. 40 hours on so check them out. Good luck to Dave Krugman. Martha Titus, thank you so much for coming in today. Thanks for thanks for your time. Appreciated. I appreciate you guys. Hell yeah. I love. I love photography. I got a whole bunch of that that's you know when you when you think of NFT they're gonna they're gonna probably do well in in the future.
I'm pretty confident with some of my photography collection. I'm not gonna lie but I a whole lot of people have like all this fire Jen art collection actually collected some cool photography over the last bull so you know like drift like actually Dave stuff things like that. I don't know you know we'll see we'll see how that goes. But anyways boys I think that wraps it for today's top five. One more tomorrow. One more tomorrow. Big Friday, I hope you know.
That mando's right when he says that he believes we've touched our local bottoms. You know, I'm definitely positioned accordingly. And as usual, just a reminder, this show is powered by cracking NFT. If you go to cracking dock, no rugby, sorry.
Yeah, this way around cracking.com kraken.com/rock radio you will be able to check out what their platforms are about and what they're up to, which is actually really, really close to. Shut the Kraken team will be with them I think in Austin at the end of next month for the F1, which when they're debuting the, you know the. The NFT's on the back of the on the rear wing contest so should be a lot of fun. Alright, boys. So were you guys planning for the rest of the day Reviving.
Crushing it. That's the only way to be. Mine is muted. Yeah, the window looking out who, sadly. Beautiful. Have postage for me guys. I've been having small Swiss jumping to stop yo the chocolate here is too good. I was telling Callie before the show was like Oh my But dude, even the randomised chocolate you get a random corner store is so bomb. Yeah, I know. But you know I don't have a gym here.
So it's been it's been tough. I don't wanna you know, get get too crazy over here especially before the wreck show. You know, I gotta, I gotta, you know, I gotta look good for that, right? Anyways, but. Anyway. Pardon. That's good for you. Yeah, it makes you happy. Exactly. And if you're happy, you won't gain weight. Exactly right. So that that that's that's how it is. But anyways it was that was a good one.
So that wraps up another episode Gemma 3 on rock radio where he saw tomorrow morning 10:30 AM Eastern Standard Time, 7:30 PM Pacific Standard Time for another episode of Gemma 3. Ohh radio and let's go.