Show notes
Theme: What is a project market cap? Exploring https://nftpricefloor.com/ How accurate is this? How can it be used? Affordable project: value shopping (https://adimverse.com/terms-of-service/). https://opensea.io/collection/akutars https://opensea.io/collection/lil-nouns?search[sortAscending]=true&search[sortBy]=CREATED_DATE&search[toggles][0]=BUY_NOW https://opensea.io/collection/organized-disruption-by-joshua-davis-praystation https://nftpricefloor.com/rug-radio-genesis-nft NFT NewsOpenSea introduces new stolen item policy to combat NFT theft Reddit's Community Points are migrating to Arbitrum Nova Starbucks heading into NFTs and Web3 Ethereum core developers suggest tentative dates for The Merge Super rough transcript: [00:00:00] Today on all about affordable NFTs. We're talking about what the project market cap looks like using a fun tool called NFT price, floor.com. Well, we're getting into it. We crossed a hundred episodes. We officially have done over a hundred episodes and we're coming up on our, our one, one year anniversary. [00:00:21] I feel like, uh, that's a, that's a big accomplishment. And in NFT years, what. Time seven . Yeah, I feel like we've been in this for, for quite a long time. You know, it is nice looking at some, some NFTs and realizing that they are now long term , uh, gains, you know, not everything is just short term gains and, uh, well, you know, certainly not all gains anyway, but you know, it is nice when the, some of those get into the longer term holds. [00:00:48] Um, but yeah, it feels like a very long time we've been doing this, George. Yeah. It's, uh, it's been interesting. I was looking back at some of our earlier episodes, also episode idea. We should be like, have we learned anything it's a year later, we'll find out when our, when our anniversary anniversary is and, and go for that. [00:01:05] But there's some early projects I'm like just laughing at. And I'm like, oh, I remember when I was into that. But you know, just this time, last year we were looking at metaverse stuff. Right. We were like, oh, this kind of seems like a thing. And it was before all the announcement and pieces like that, but getting. [00:01:20] You know, land, uh, land sales that have gone, like, I'd say like the full circle at this point of beginning, middle, and now, you know, end as we were looking at what was the. And Ft lands. What was it? Ft. Worlds. Those are the ones Ft, worlds. They were well, I mean, they got up over 10 at one point. I think they're bad. [00:01:37] No, they start like this time last year they were at like 0.1 and I was like, well, this is a joke, cuz I feel like they didn't ask permission at all from Microsoft on what they're building on. And they're on an old version of it didn't matter. The tech didn't matter. But then it does because obviously Microsoft issued that whole like, Hey, uh, you guys can't do that. [00:01:56] This is, you know, this is our land and you kind of like quasi built on it, unintended and you know, the, the price is taken a, an ax to it. So, yeah, what's, what's kind of amazing. Here is I'm looking at the, uh, the floor price and it's it's 0.85. Um, but we're, do recall that. I believe I actually, uh, got out at 0.7. [00:02:17] So as much as it's fallen, it's still , it's still above where you were. I thought you sold one above one at one point, but. I don't think I did actually, but you know, um, I don't need to go back and look at it to confirm. It's not like you can find it permanently on the blockchain forever and ever. Yeah. [00:02:34] Right. yeah. If we're playing that game, I've got, I've got more than mine, uh, fair share of that front, but you know, getting into it, you know, of today, what do you see in the news going on here? [00:02:44] Oh, my gosh, look open C introduces new stolen item policy. I think this one's in response to, to our, our last episode, I assume that they heard, they felt the rest. They were put on blast by P a N Ft. And you know, they've, they've certainly, uh, they've introduced a new stolen item policy. So I guess now you actually have to file a police report within seven days of the theft. [00:03:11] Um, and there are more options. For the new buyers to, to get that removed. Um, I tend to see a lot of details on, on what those options are. Um, and then, you know, they basically are still recommending that, uh, people go to another marketplace if, if they are having problems. So, you know, it's, it's something, but, you know, I guess you still get careful don't use a different marketplace. [00:03:35] Yeah. I mean, I, I guess maybe they should put something in there that you can't, you can't resell a, re-list an item after purchasing it for seven days or something, and you actually wanted to make sure the customers were in the clear when they bought it. But, you know, I don't think that's gonna happen. [00:03:51] Yeah. It's something, obviously we're, we're moving markets. We have a lot of power. We try to use it responsibly. This is a good first step though. I also noted that, you know, they're, they're, they're seeing that there's like falsified people submitting these transactions. So like, hypothetically, like let's say, you're like, you know, you're frustrated that you sold something and you're like, oh, uh, I was hacked, uh, it was stolen. [00:04:15] Give it a back. Right? Like you need a police report. You need to have some sort of. Follow on of, uh, of law and repercussion. If you're, if you're faking that, not to say that people, I have no clue what percentage either way is, but they're, they're starting to realize a touch of responsibility in the process, which is important because what's happening now. [00:04:37] Won't scale. They can't. Yeah, I am. I'm looking forward to seeing some of these police reports though. And, and, you know, just imagining what those conversations will be like. Well, the truth is. You know, like insurance fraud is real filing for fake loss and stolen items like that, that comes with severe consequence, you know, think insurance fraud. [00:05:01] So, you know, to that end, you know, there is other elements of liability. Like we have homeowner's insurance, we have renters insurance when something gets stolen and resold, like you are able to go to various bodies. So this is like almost even, you know, the start of, especially if you're pulling in the police, the next step is saying like, oh, I potentially could. [00:05:19] Individual insurance for myself. And they could look at, you know, also the blockchain and also in researching it. Guess what, as smart as we all think we are and like hiding things. If you're not, it's all on the blockchain, you can and will be found if you're dealing to a wallet that you ultimately end up owning and pulling back to yourself. [00:05:37] So they're, um, you know, it's a road to legitimacy and I think there's a lot of second order thoughts that kind of come from what open C is suggesting here. Yeah, well, I'm glad to see they did something good work, good response to, to, uh, our, our podcast reason to open sea. I know you're listening still on point. [00:05:58] All right, our next, next headline here. We've got, uh, Reddit, they're migrating their community points, which have been part of the, the system for forever. They're MI migrating these toum Nova. So this is a layer two on Ethereum, um, will be powering their, their community point system. So this is very much moving over to the blockchain. [00:06:17] You know, we've talked about how things, you know, something like Reddit is very. I kind of already used to this sort of, uh, idea of, of digital ownership. And, uh, here it is. They're, they're moving over. Toum I think this is also interesting because you're seeing web two social move into web three, and they're only doing it on certain, as I understand subreddit, such as the R you know, subreddit cryptocurrency, where the community is kind of ready for this, but you. [00:06:49] I think you're getting into, how do you make micropayments micro compensation for micro contributions of content to a network that makes money, right? You have a whole bunch of essentially unpaid writers when it comes down to it on social media platforms, putting out general content. And this is the start of saying like, whoa, how would we potentially share some of that value? [00:07:13] Push it out rather than consolidate. and, you know, I, I think Reddit is, is perfect. Cuz you can divide this by, you know, the, the subreddits, the communities can decide whether or not they wanna compensate the group members or not. [00:07:29] Yeah. I mean, I, yeah, I mean, we talked about, I think it makes sense. We'll start seeing this power. Other, uh, other point systems are seeing different, uh, layers, par power, other point systems here soon. I think, you know, we've talked about, I think airlines are, are right for this as well. So, uh, I wouldn't be surprised if we see, uh, some big changes or big announcements like this, uh, coming up in the next few months. [00:07:50] And of course, arbitrary is a layer two on top of Ethereum. [00:07:54] Uh, speaking of. Companies getting into, uh, crypto and NFTs. We've got Starbucks. I think you had actually mentioned this, but uh, little more information on this. They are, uh, going into NFTs. You'll be able to, uh, earn these by instead of just getting points when you, um, When you, uh, buy at Starbucks, you able to earn actual NFTs, you know, show how, how big of a, a big shot you are at, uh, at Starbucks, I guess. [00:08:20] Um, you know, it's, it makes sense for them as well. You know, it's, it's a place where people are very used to ordering digitally and, and even earning points and, and, uh, you can definitely see, um, see the use cases here for them. I'm excited. They actually haven't announced which blockchain, but they are definitely gonna be choosing an environmentally sustainable one, cuz it's definitely part of their ethos. [00:08:43] And also the backlash would be amazing. And there's kind of like a, a rumor baked in here that they're potentially waiting for. Ethereum's merge, which is penciled in for September. To potentially make an announcement. But if I were a betting man, and I am, I would bet polygon. So put it on the list of things that three a is, is predicting and will probably come true. [00:09:05] I'd go polygon. What would you say? Yeah, I mean, that would be my guess as well. I was actually somewhat surprised that Reddit wasn't on polygon just because they have INED so many, uh, major deals already in have more, uh, real, real world use case or use experience than, um, many of the other layers at this point. [00:09:24] All right. And, uh, let's see, speaking of, you know, the various Ethereum layers, we've got suggested tentative dates for the merge, the merge is coming. It sounds like we've got, there are two potential dates suggested, looks like it may fall around September 15th. Um, so we will see, um, that was, that will be, let's see the Paris upgrade, uh, the be. [00:09:48] Upgrade will target September 6th. So this is, this is right around the corner. This is it's real, definitely seeing some, um, uh, some price movement in Ethereum recently, and gotta think that the merge is on people's minds when they are buying. [00:10:02] So the, what is the recent test network? The final test network, uh, went through successfully as of the other, yes, go girly. I believe it is G O E R L. I, although it's yeah. I wanted you to. Pronounce that . Yeah. Which I mean, Gole, Gole, I, I don't know, you know, it's, uh, I believe it's a German city. Um, so I, with a, in the O is got, got some of those dots over it. [00:10:28] So, you know, I'm a great successful one, two, it was successful. Absolutely. I mean, it's, uh, you know, since. The summer has been impressive in the development timeline seems like things are going as planned. And, uh, the merge is hasn't been pushed back. It sounds like it's actually been moved up somewhat. Um, so, you know, as we're recording this, we're in mid August and, uh, you know, we're about a month away. [00:10:52] It's exciting. You know, I think it's, it's hard to say what has been priced in or not priced into this. I'm not smart enough to tell you. I will say you have a lot of factors going for you, the biggest and maybe underpriced piece, maybe the environmental component, like this is the number two, uh, crypto currency currency platform. [00:11:14] And it's by going. By effectively going, you know, green-ish right. And sort of greatly reducing going from like 4% emission to 0.4% emission. It becomes this very acceptable, logical choice on, on a lot of levels. Not only just to build on, but to invest in. So. That alone could, could move. I think a lot of, of the market, not to mention the actual underpinning of the code, we've touched on all of this already, but you know, in some senses, if you're in the NFT game, maybe we begin to get to the road of stability. [00:11:49] In price, like we're, we're carrying less, I think in the game of empty about what price Ethereum is though. It definitely matters but the freaking stability, because right now let's just be honest. Like if you think this price is gonna two X in the next 30 days, are you really about to like buy that next? [00:12:07] You know, G maybe not probably waiting. So, um, a cooling effect, maybe we'll talk about volume prices in a bit. Anything else on the. On the radar for you thinking about the, the merge of. [00:12:21] No. I mean, I think it's, I mean, you're spot on just saying that, you know, the price movement E is not good for, for NFTs. Um, you know, we'll get into some of this a bit more. I think, um, we're talking about the project MarketCast but you know, we, we definitely have seen, um, maybe some, not as many transactions as, as maybe, or not as much volume as we, uh, maybe would like in the NFT area, but. [00:12:46] You know, hopefully once the price settles down a bit, we will see that pick back up again. Awesome. Well, we don't have a specific affordable project unless you're gonna surprise me with something. So I thought maybe we'd take a quick look at what is on what is on your shopping list or at the very least, what have you picked up in the last week or so that you haven't talked about? [00:13:07] Yeah, that's a good question. I've, you know, I've been putting some bids out there. Um, you know, I was looking at some of the, uh, Um, the col de decentralized, you know, put some bids haven't had any of those hit yet, but notice some people getting those at you already have one though, right? You're trying to, you're trying to gobble up with, I don't, I don't have one at this point, actually. [00:13:25] No, I sold both of those. So we both, when people were accumulating them in order to, uh, try to get the ascended version. Um, so that's now done. That's where you needed. I think five of them. Um, so they're, they were butt up. It's gotten a little softer there. Uh, haven't had those come through, but I've been putting offers in. [00:13:41] Few different places. How about you? Have you had anything hit? Yeah, a little bit. I lande…
Full show notes at the publisher 
Our TOPPODCAST Picks 
Stay Connected
