FOMO HOUR: A Daily Crypto & Web3 News Show

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Daily market report + News Updates Aug 18, 2023

Show notes

Welcome back to GM Web3! In today's episode, we'll dive into a recap of the latest market movements and trends, covering everything from traditional markets to the exciting world of cryptocurrencies.

Starting off with the traditional markets, it seems like there wasn't much positivity to report. Equities closed lower yesterday, and oil also experienced a downward trend. However, there's a glimmer of hope as jobless claims came in slightly below expectations today, offering a potential silver lining amidst the market fluctuations.

Shifting our focus to the crypto space, we've seen some noteworthy developments. Crypto is in motion, though unfortunately, it's been a downward trajectory. Bitcoin (BTC) has dipped to 28,000 dollars, while Ethereum (ETH) has seen a decrease down to 1,780 dollars. Interestingly, alternative cryptocurrencies (alts) have managed to hold their ground relatively well. The prevalent selling seems to be BTC-driven, raising questions about the factors contributing to this movement.

One potential influence on the crypto market's downward trend is China's efforts to counteract the selling in their own stock market. Concerns over the Chinese economy might be one of the drivers affecting the broader crypto landscape.

In a special segment, we're joined by Punk 9059 to delve into a fascinating topic: the rare occurrence of an NFT project experiencing a 50% floor dump. Despite witnessing significant drops across various NFT collections, instances of such drastic shifts have been relatively infrequent in such a short span of time.

Our discussion also highlights the concept of "hot potato dumpenomics," which is becoming increasingly evident in collections like Degas and Blur bid. It seems like a race against time to exit positions before major holders initiate their own dumps. This dynamic creates a snowball effect, or perhaps more aptly, an avalanche, as selling pressure builds upon itself.

As we wrap up today's episode, it's clear that both traditional markets and the crypto world are experiencing their share of challenges and exciting developments. Be sure to stay tuned for more updates and insights on the ever-evolving landscape of global markets and cryptocurrencies. Thank you for joining us on GM Web3]!

GM!

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Good Vibes + Great Takes Aug 17, 2023

Show notes

Equities didn't to have great day yesterday, we are opening a slight bit higher today. Small jolts expected until the next major major event.

Crypto saw a massive 1% move in ETH!!! unfortunately it was lower, but luckily it wasn't much of a move at all.

The CFTC approved coinbase as a merchant, which is a bullish positive in the fight against security regulations.

Machi's Degods position is causing all the feels to surface on the timeline. People that genuinely want to enter the ecosystem are sharing the sentiment that they are "waiting for machi to sell". This is tough as the floor has been grinding lower ever since the season III announcements

There was a stat that 200 million dollars has been paid from Bitcoin longs to bitcoin shorts since the top of the year. Volatility is at an extreme low. The majority of trading seems to be in alts and Shxtcoins.

Mando recommends bridging over to Base as there is tons of activity and that doesn't seem to be going anywhere.

Deflation coming out of china is being exported, causing a spiral that isn't great for the rest of the worlds markets. Blame is being placed on the FEDs recent approach.

All the major trading bots with tradable coins seems to be doing well. $NONE who was on the show last week has seen a near 50% increase since.

9059 dropped an NFT bluechip index recently, what collection do you see as a blue chip?

GM!

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ft. Amanda Cassatt Aug 15, 2023

Show notes

Not really a pretty day today, we undid the progress from yesterday in stocks roughly 75%. Interest rates are something to watch out for, it seems like we are selling off. the markets are more in line with the narrative of the FED as opposed to the standoff we were eexperiencing earlier this week.

Crypto doesn't have much to talk about, we have been in a tight 10pt range with out much action. BTC and ETH are experiencing their lowest volumes in a long time. The Alts have also seemed to pull back today, likely some profit taking going on there.

The FCC ETF approval is rumored to happen in 2024, but OSF points out that even at the point it could take more time.

The Sam Spratt news has been taking over the timeline. He is launching the Monument game and releasing different hints and bits of information. It is all set to be an interactive chapter in Lucy's story, where members of the council have selected people to play. Very little information has been released yet but he is set to be on the show next week.

Machi has accumulated over 200 Degods at this point. This is also following the excessive FUD they have received following the season III announcement. It seems to be a question at this point of who is holding a major bag.

Yesterday Reptjar, a community member of the overlord creeps, made a proposal to farokh to change his pfp to a creep in exchange for a tattoo of farokhs punk on his arm.

Argentina is looking to get rid of their native currency and adopt crypto to transact. Many currencies are collapsing against the dollar. It's interesting to see a national currency fail and create a lane for Crypto, very far from ideal but it has created an avenue none the less.

Europes first spot bitcoin ETF lists in Amsterdam, great news.

Zynga stepped into web3 gaming, which is huge as they are a billion dollar mobile gaming company.

We had Amanda Cassatt on stage to join us. she started contributing to the space in 2015! she was CMO at Consensys during the time that Ethereum was introduced!

"The market is an aggregation of vibes"

"Getting people through the bear market is something we can all do together."

- Amanda

She blessed us with some amazing insight and quotes along with a perspective that this the best possible time to be building.

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FEWO joins? & Cory Van Lew STUBS! Aug 15, 2023

Show notes

Let's Crush this week!

Equities are up today, interest rates are selling off with 2years treasuries reaching their highest levels since the end of July, very close to long time highs. Crypto remains unchanged, but there is some coins seeing some positive activity in the alt world.

Are you Pre-Rich? Do you have your bags packed for the upcoming run? the type of bags that will send you into retirement if everything works out? Consider it.

China is quietly blowing up., there is a huge developer that is set to default soon. Most of the world is experiencing inflation but China is experiencing deflation. Their markets have been in a slump, and they may be in line for recession.

New layer 1 is incoming with a massive market cap that hasn't been seen since arb/opt.

Degods season III was all the talk this weekend, some major whales have sold off and the floor has dropped off a bit as might have been expected.

$APE coin has risen back above $2.00, and machi is amassing his collection of apes along with a huge position in the coin itself.

has anyone heard from the Azuki team?

Milady has been on a consistent upwards push and is set to flip most peoples favorite collections if it continues.

Coca-cola is dropping an NFT, but believe or not this is not their first drop. Their last drop fetched over half a million with a fridge attached and donations going to the special olympics.

We had @coryvanlew on to share some insight into his New art approach, using oil paints for his physicals instead of acrylics. The real purpose for his presence was his STUBS drop which is actually a short animation depicting a friend of his asleep with his lady on the couch. The STUBS piece will be a first as it will require 25 stubs to burn for his piece, making STUBS history.

We also had @fewocious on to drop some alpha on the upcoming Fewo's. Oddly enough, the upcoming project might be a giant Fridge collaboration with Cory, Rug Radio and OSF. Bringing Cold storage to a home near you.

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Friday god candles? Aug 11, 2023

Show notes

An awesome Friday show featuring Gfunk from Pixelvault and VFG to discuss RebootGG and their recent acquisition of Wolfgame. We had the peoples favorite co-host Mika bringing the best vibes possible and the stage discussed the latest social blockchain app friend tech.

We also had a fairly spicy conversation about the recent announcements and updates from the Degods season III drop. With some mixed feelings and possible lines being crossed the debate had came from a handful of perspectives and shed some light on the overall sentiment.

GM!

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Daily news, Market report Aug 10, 2023

Show notes

Inflation came in slightly below the expected number and slightly higher than the previous month. This all seemed to be priced in and the markets are up again today approaching ATH's again.

Crypto still does not want to move with the Macro up swing. It continues to feel like an inverse relationship as we move opposite to whatever equities are doing. Mando still thinks over the next 3 days we could break 30k on BTC.

"This feels like this might be the one where we are back"

- Mando

Aptos announced a partnership with Microsoft to build out AI tools.

Base was launched, Coinbase's own blockchain, which has mainly spurred on the shitcoinery. There is an open edition drop today from @CozomoMedici and @deekaymotion, with the intent to bring on "the masses". Our Hosts encourage you to bridge, as many new chains in the past have rewarded earlier users who did a simple act like bridging in.

Yesterday Degods announce the y00ts are migrating to Ethereum and returning the 3 million dollar grant from polygon.

Degods themselves will now be able to change their artwork to 4 different images via the metadata. Mando is slightly underwhelmed based on the hype leading into it and the floor has dropped from the 9 eth local high.

GM!

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https://linktr.ee/rugradio

GM Web3 ft. Mika! Aug 08, 2023

Show notes

Yesterday we had a good day in traditional markets and today we have reversed those gains. The banking sector has downgraded a bunch of banks as the banking crisis continues. There is also some trepidation leading into the inflation figure this Thursday.

Mando thinks this going to continue to be the most hated rally and it may continue to rip through the rest of the year. Unfortunately, this might not impact the crypto world quite as much.

Sunday we get the decision on the approval for Kathy woods ETF. Consensus is that it will not be approved as it has not been an easy path to approval up to this point.

Tomorrow is the Degods Season III, at least that is the story, we all know that Frank is known for a proper Delay. The floor is currently sitting at 9 eth, and our stage speculated on whether or not the collection will save the NFT space.

LinksDao is accepting new members. This is the same project that raised 10 million to purchase an a dual golf course.

The monetization initiative has stirred up emotions. The meta is now chasing reply's and making meaningless content in order to grab impressions for the void. The quality of content on the Timeline has decreased dramatically, and despite seeing people getting paid, nobody seems to be enjoying the new scroll.

GM!

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We're BACK! Aug 07, 2023

Show notes

The GM Web3 Crew is back!....well kind of. Farokh is still in Toronto after the OD Labs X Rug Radio event and we may or may not have had some technical difficulties to open the show but the show is back on! Mando broke down some of his takeaways for macro and OSF described his recent body fat scan at the request of the audience from the Youtube Live stream.

We had Trizton on for this weeks stubs artist, and he shared some of the reasoning and mindset behind some select pieces with us.

Special Farokh acapella of the outro!

GM!

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Did Macro Save us? Jul 27, 2023

Show notes

Yesterday we had the FOMC, as expected they raised interest rates by 25bps and the commentary wasn't that different from the last meeting; They will continue to adjust policies based on incoming data and there won't be any rate cuts this year but potentially next year we could see cuts. Equities sold off initially, but have already recovered a bit.

The next time we hear from the Fed will be in September, so there is a break there. If we do get good news on the next meeting it could lead to a nice rally.

Crypto started to rise although just in the last half hour things have already started to pull back. It felt like crypto positions were sketchy. It feels like we are inversely correlated to stocks, which is an odd scenario.

NFTs

Bit of a bounce over the last 24 hours in NFTs. Pudgies are back above 4 eth, and more hoodie punks continuing to trade.

There is a wallet with 17 zombies that has awoken after years, a true Zombie wallet, with it’s last activity being a Meebit claim. Nobody seems to know who the wallet is, but it does have a recently active twitter profile but speculation that they have an alt account and are in the space.

There was an auction that happened at Sothebys, to much success, that seemed to take an opposite direction from the recent Christie's botch. 500 pieces that started as a dutch auction and landed in the 1 eth range, but the floor is now at 3 eth. The artist is over 90 years old!!!!!

The Reddit NFT world has reached 14 million wallets now and something like 50 million in all time sales. Coolcats and Aku both now have tons of new NFT holders via Reddit.

Fvckrender x @tokapi_official

@fvckrender joined us to talk about his stamps he is creating in a collaboration with the Austrian backed “crypto stamp art” via Tokapi. It comes with an art print, stamps, sculpture and two NFTs to choose from, eternal flowers or alpine star.

They each come with different pieces of the collection. One of them is 100 editions, and the other is 200 editions. Fxckrender says this is truly collectible, if you are trying to make money, don't buy it. Believe it or not this is not the first NFT stamp…they have been doing this since 2019!

MNTGE

We were joined by the @mntge_io team also! @seanwotherspoon talked to us about the advancement of fashion in Web3 and the integration of NFC chips into the physical goods.

The latest thing they have cooked up is Patchwork. They have commissioned different heavy hitter artists including our very own OSF. @nickyads described how he accrued this superstar lineup of artists and said he discovered @GrantYun2 through the GM Web3 show! It sounds like we can expect a dedicated MNTGE marketplace soon!

The Alpha is there are some music related things coming from MNTGE!

GM!

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https://linktr.ee/rugradio

The Future of "NFT Companies" Jul 26, 2023

Show notes

Today kind of a big day with the conclusion of the FOMC, expectation is that they will have a mother 25bps hike. There is almost zero chance that they cut and a very low chance that it will come in at 50bps.

We are looking for any information about change and how long they hold rates here. The Feds plan has been successful up to this point, and inflation has come down over the last months. Given the strong labor market in this environment, the Fed still see's inflation rise as a threat. It will take another 6-12 months of data to get an accurate picture of the macro climate.

Degods are shining through this rough bear period, but they saw nearly a 1 eth floor price drop over the last 24hrs. @punk9059 says there may have been a farmer how was leveraged and just dumped at a bad time, combined with some rumors and off headlines.

There is a common farmer rule, "if Machi dumps, you buy".

Frank popped up on our stream after making some noise in the Youtube chat.

Have you heard of Tensor? It is getting some scrutiny for being a clone of BLUR, but Frank Degods points out that they were trying to become the pro trading platform before he had heard of BLUR.

Curious about S3 Degods? frank says they plan to make a solid calendar ogame changing events that will take place after the reveal of the new art for months to come and not just be a downward slope of post-hype disappointment.

GM!

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https://linktr.ee/rugradio

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