Transcript
Speaker: Um, man, there was so much missing disinformation about NFTs and I'm going into these like long diatribes and I just get tired of, of, uh,
Speaker: replying with the same things to people who don't seem to understand it.
Speaker: And so I just was like, you know what?
Speaker: I'm going to talk about it.
Speaker: And I don't know everything, but I have a pretty decent understanding.
Speaker: I mean, I realized when I was talking with somebody who's been around for 10 years in the crypto space, not so fast.
Speaker: And I was like, oh, yeah, you know, that little snowflake
Speaker: in OpenSea lets you know that it's been, it's like set to the blockchain at that point.
Speaker: It can't be changed.
Speaker: And he's like, oh, really?
Speaker: I was like, how did you not know that?
Speaker: But I was like, oh, how would he know that?
Speaker: And the only reason I know that is because I minted a few NFTs just to test it out to see what was going on.
Speaker: And so, yeah, so let's talk about it.
Speaker: So I've got my list.
Speaker: So this is NFT 101 for people because if you saw, this is NFT 101.1.
Speaker: So NFT 101 was a few months ago and I went into this long emotional diatribe about why NFTs are good for artists.
Speaker: because of residuals.
Speaker: So as somebody who works in the acting world, residuals are amazing if you can get them because you do one day of work or a few days of work or however long days of work and then every time that episode airs or the movie gets shown, you get a cut of the money that gets paid.
Speaker: So if like...
Speaker: Let's say like Netflix picks up a movie that I was in.
Speaker: Now Netflix is paying the production company or the producers to be able to have that movie on Netflix.
Speaker: Without residuals, those producers would get 100% of that money.
Speaker: And actors were like, what the fuck?
Speaker: We're the ones who did all the work.
Speaker: We're the ones who acted on it.
Speaker: You didn't write it, you didn't act in it, you didn't direct it, you didn't do the sound for it, you didn't do anything producers.
Speaker: You just fronted the money for it.
Speaker: So why should you get never-ending money from this thing that we did all the work for?
Speaker: All you did was literally front the money for it.
Speaker: And producers were like, fuck no.
Speaker: Fine, we won't put the money up.
Speaker: And actors were like, fine, we won't act in any of your movies.
Speaker: And that's what strikes are.
Speaker: And eventually they realize, oh shit, if we want good actors and we want good movies and we want to actually make money off of this, we need to cut them in on the profits.
Speaker: And people fought and died over this, you know, 100 years ago or, you know, however many years ago, 80 years ago when this was a thing and then it worked and we've been getting residuals ever since.
Speaker: If you're in the union or if you do a union job.
Speaker: So that was what that episode prior, if you have a chance, if you care, you know.
Speaker: Give it a listen.
Speaker: So let's go into it.
Speaker: This all started because yesterday I tweeted out, if you thinking, you know what, I'm just gonna go to the actual tweet.
Speaker: Okay, thinking you stole an NFT by right click saving is like thinking you stole a book because you took a picture of the cover.
Speaker: Does that make sense to people?
Speaker: Like I can take a picture of the cover of the book, but it doesn't mean I actually have the book, right?
Speaker: I don't know anything that's inside the book.
Speaker: I just have a picture of the cover.
Speaker: And that's essentially what an NFT is.
Speaker: An NFT is just like the picture you're seeing is just the cover of the NFT.
Speaker: All the information is on the blockchains.
Speaker: Now whether that information points to a server where the wrapper is stored, the picture you see is just the wrapper around the NFT.
Speaker: Now whether that picture is stored on a different, that picture or video or whatever is stored on a different server, fine.
Speaker: But someone was saying, well, if that server goes down, you don't have the NFT anymore.
Speaker: And it's like, I mean, sure.
Speaker: And if I lose my car and I have the receipt that I paid for, I don't have the car anymore.
Speaker: But essentially, that's like the blockchain and my wallet point to me owning that NFT, that picture, the wrapper, right?
Speaker: But ultimately the wrapper is just the wrapper.
Speaker: The information that's on the blockchain, that's what I actually own.
Speaker: If I'm a dumb ass and I lose the picture associated, the wrapper associated with that NFT, that's just dumb.
Speaker: Like I said, I can have the pink slip to my car, but if I lose my car, it doesn't mean anything.
Speaker: It's like, oh, I have the pink slip though.
Speaker: They're like, so you lost your car.
Speaker: That's meaningless.
Speaker: But if the police said, hey, we found your car.
Speaker: Can you prove that it's yours?
Speaker: Oh, yeah, here's my pink slip.
Speaker: If someone said, hey, we really like that NFT, that image, that wrapper on that NFT, we'd like to buy it.
Speaker: Can you prove you own it?
Speaker: Yes, I absolutely can.
Speaker: Here's my wallet.
Speaker: Here's my address.
Speaker: Let's go to the blockchain.
Speaker: Oh, there's my address on the history of that NFT as the last owner of that NFT.
Speaker: Because everything's on the blockchain.
Speaker: Everything, every transaction that NFT goes through, every time that NFT changes hands, it's on the blockchain.
Speaker: That's public, visible for everybody to see.
Speaker: That's why, from an artist standpoint, I can't believe I just said that's why.
Speaker: That is why.
Speaker: I'm going to start being English from now on.
Speaker: That is why.
Speaker: That's why it's so important for artists.
Speaker: It's helpful for artists, not important.
Speaker: I mean, it is kind of important.
Speaker: It's important that if people are going to profit off on the sale of an artist's work, the artist should get a cut of it.
Speaker: So...
Speaker: Yes.
Speaker: So someone said, oh, well, it's just a link and it points to a server.
Speaker: That's not true.
Speaker: That's just not true.
Speaker: You have, that's true for some, some NFTs, but we have, there's on-chain NFTs where 100% of the art is stored on the blockchain.
Speaker: It can get expensive though.
Speaker: You have off-chain IPFS NFTs where,
Speaker: the link that's on the blockchain is encoded and can't be changed.
Speaker: on the, it's connected to the IPFS servers.
Speaker: So it can't be changed unless it's written into the code that it can be changed and then you'd have to be aware that you're buying something that can be changed.
Speaker: And why is this good?
Speaker: So a big project I'm a fan of is the Voxo Deus.
Speaker: They're like Voxo robots and people and they were the first partnership with the Sandbox.
Speaker: And occasionally they'll be like, they'll have contests.
Speaker: It's like, oh, you know, you won an extra backdrop or you won a pet or this or that.
Speaker: And because it's written into the smart contract that it can be changed, they can add in these things to the NFT.
Speaker: So when I look at my NFT, it now says, oh, you have a flying phoenix that flies behind you.
Speaker: or you have a joint, or you have, you know, whatever, a bong, or whatever it is, they can change that and update and constantly be adding new and offering new things to your NFT.
Speaker: So that's one.
Speaker: The other one was the one that got exposed for being the dangerous one was the rug pull one where the guy had a bunch of NFTs and then he went back because they were just on some random private server.
Speaker: He went back and just changed the image on all of them to an actual rug.
Speaker: Because he wanted to expose how dangerous that was.
Speaker: And that's good.
Speaker: I mean, that's really good for the community because the community gets burned.
Speaker: They're like, oh, I see what you did there.
Speaker: Okay.
Speaker: And they learn about their mistake and they move on and they fix it.
Speaker: And that's why the IPFS stuff happened.
Speaker: That's why when people can't afford to, they actually put the entire NFT, including the artwork, on chains.
Speaker: So there are multiple kinds, there are multiple ways to create an NFT.
Speaker: Some are cheaper and not as secure.
Speaker: Some are more expensive and very secure.
Speaker: So it's up to the artist.
Speaker: It's up to the people paying for the art, what they want.
Speaker: And this is one of those things where the market decides.
Speaker: This is one of those free market situations where if people don't want art that can't be changed or that can be changed, people aren't going to pay for art that can be changed.
Speaker: And at that point, artists are going to start putting 100% of the art on the blockchain as opposed to a link that links out to it.
Speaker: But it's not just a link, even if it does link out to something on IPFS or to a private server.
Speaker: It's not just a link.
Speaker: If I right click save my artwork that I just paid for and I keep it on my hard drive and that server goes down, I still have the link that proves that I have ownership to it.
Speaker: Now, at that point, it might be kind of hard because when I right click save, I don't have any of the underlying data that's on the chain.
Speaker: So at that point, it's a little bit harder to prove.
Speaker: So that is a danger to it.
Speaker: But I didn't lose the artwork and I can point to it on the blockchain and say, see, this is what that used to be right there.
Speaker: But I could lie and say, oh, it was the Mona Lisa and it used to be right there.
Speaker: So the idea that this is going to be a perfect thing
Speaker: when it's really only been around for a few years, and it's really only been around at like some kind of mass adoption about a year ago,
Speaker: Like, you know, CryptoKitties blew up Ethereum back in 2017.
Speaker: But that was just a bunch of nerds on Ethereum.
Speaker: Like, nobody really outside of Ethereum was really getting involved in that.
Speaker: Now, yeah, artists from all over the world are jumping into the NFT space.
Speaker: So it's on multiple chains.
Speaker: It's, you know, it's on Wall Street.
Speaker: It's famous people are buying them.
Speaker: It's like, it's getting huge.
Speaker: Yeah.
Speaker: So we're going to learn all these mistakes.
Speaker: We're going to learn what's possible.
Speaker: We're going to learn what not to do, what to do.
Speaker: And a lot of that's going to come from the market, what people are willing to pay for.
Speaker: So when I hear people be like, ah, you know, it's all a scam.
Speaker: It's all bullshit.
Speaker: Yeah, a lot of it is a scam.
Speaker: In the beginning stages, a lot of it is scams.
Speaker: A lot of it is like, and my scam, I mean, somebody will pay somebody, you know, some money on Fiverr to make an art project, you know, to make some designs, whatever, and throw it up there.
Speaker: But like, is it really a scam?
Speaker: Somebody put some shitty artwork up there and you paid for it.
Speaker: Where's the scam?
Speaker: Where's the scam?
Speaker: Like there's a culture of victimization and I get kind of frustrated with it because like there are actual victims out there, things that have happened to them against their will.
Speaker: That's Vic.
Speaker: That's being a victim.
Speaker: You're not a victim.
Speaker: If you bought something that you don't like afterwards.
Speaker: I'm not a victim because I slept with a woman and the next day I felt like shit about it because I really didn't like her but I was drunk and I fucked her.
Speaker: I'm not a victim.
Speaker: I made a bad decision.
Speaker: And grownups learn from that decision and be like, you know what?
Speaker: Maybe I shouldn't drink so much so I don't sleep with women I don't want to sleep with.
Speaker: You know, hopefully people who get herpes learn, I should have used a condom.
Speaker: And I guess at that point it's too late because you have fucking herpes for the rest of your life.
Speaker: You know, but like that's the whole point.
Speaker: Like a hangover the next day is literally nature's way of saying, dude, learn from your mistake.
Speaker: You drink too much.
Speaker: Hopefully you feel like shit and you won't drink as much next time.
Speaker: But we live in a culture where nobody, I mean, not nobody, it's being hyperbolic.
Speaker: A lot of people don't want to take responsibility for themselves or their actions.
Speaker: And it's like, don't, you know, it's not a scam.
Speaker: If somebody says, hey, this is going to be worth $10 million tomorrow and you buy it and it doesn't go there, that's kind of a scam.
Speaker: But that's also, it's just like, come on.
Speaker: Do you reply to those Nigerian Prince emails that tell you that there's a million dollars waiting for you somewhere?
Speaker: If you do, then the problem is you.
Speaker: The problem isn't other people.
Speaker: There's always going to be those kind of people out there.
Speaker: So,
Speaker: Learn from that.
Speaker: Don't call every, it's like, is the internet a scam because Nigerian print scams work on the internet?
Speaker: No.
Speaker: Is email a scam because they usually use email?
Speaker: No.
Speaker: Is the telephone a scam because computer fixing guys call you up and say, oh, we noticed your computer's running slow.
Speaker: Can we help you?
Speaker: And some people fall for it because some people fall for just the most easily recognizable stuff.
Speaker: it doesn't mean that the phone is a scam though.
Speaker: It just means that people are falling for stuff using that technology.
Speaker: So are NFTs a scam?
Speaker: No.
Speaker: Are computers a scam?
Speaker: No.
Speaker: They're just tools.
Speaker: And every single tools can be used for some, from bad, for bad things.
Speaker: Now, if your entire tool is created to do bad things,
Speaker: then maybe we should have a talk about that.
Speaker: But NFTs were around for a long time and people were using them and having fun and making cute little artwork and putting it on the blockchain and no one was screaming scam because it's not a scam.
Speaker: It's just code that people are using to put artwork on the blockchain.
Speaker: That's not a scam.
Speaker: Okay.
Speaker: So next thing.
Speaker: Creative commons.
Speaker: You know what, I need to, I'm gonna use my phone.
Speaker: Okay, creative comments.
Speaker: So someone said, there's this whole thing of like the Dune book.
Speaker: That one director put together a book and Spice Dow, which is a group of people that last year, they put together a couple million dollars and they bought that book on Christie's.
Speaker: They're like, yeah, we're going to make a TV show out of it and blah, blah.
Speaker: And people are like, ah, you idiots.
Speaker: You can't do that.
Speaker: It's copyright.
Speaker: And so, yes, the book is copyright, but you have to read what they said.
Speaker: We want to create something inspired by it.
Speaker: Now, if you're using the word Dune and using the characters from Dune, you can't do that.
Speaker: That is copyright.
Speaker: But if you create something based off of that, like something similar in that universe,
Speaker: that gets a little questionable because if you're using things that the original artist created and hasn't put out into the world as creative commons that other people can build off of that, then that's technically still copyright.
Speaker: But if they build something in the universe and they reference it without saying the words,
Speaker: it starts to get a little shady.
Speaker: It's like they have Star Wars books, they have Star Trek books that aren't written by the original people.
Speaker: So I think it all depends on the original artist.
Speaker: But, you know, they were getting shit on because they're like, you guys don't understand how copyright works.
Speaker: Well, there's a huge push in the NFT space, in the NFT community to give creative common rights to the buyers of NFTs.
Speaker: So what does that mean?
Speaker: The artist creates something or the team creates something.
Speaker: They meant like what, let's just say 10,000, cause that's pretty popular.
Speaker: It's the average right now is 10,000 different pieces of art all in the same vein of the same world.
Speaker: And they say, if you buy this, you have full rights to that image that you bought.
Speaker: Meaning you can make a TV show with that piece of art as the focal point of the TV show.
Speaker: You can have t-shirts.
Speaker: You can have billboards.
Speaker: You can have everything with that piece of art.
Speaker: What we don't give you the right is to use the name of our project.
Speaker: So let's say Bored Apes, for example.
Speaker: I don't know if that's a good one.
Speaker: Let's do Cryptodes by Gremlin.
Speaker: Gremlin?
Speaker: I think it's Gremlin.
Speaker: Gremplin or something like that.
Speaker: Cryptodes.
Speaker: Full Creative Commons.
Speaker: CC0.
Speaker: I think is the exact technical term.
Speaker: Hold on, let me.
Speaker: Creative Commons license.
Speaker: So that just says no rights reserved.
Speaker: So the artist is giving up all rights.
Speaker: But this is different because...
Speaker: the artist isn't giving up the rights to the name of the project in these situations.
Speaker: So it's different than CCO, but that's just it.
Speaker: It's like people in the community are kind of pushing the boundaries on copyright material and how it's gonna be enforced in the future.
Speaker: Because down the road, if you just say CC0, it's hard to enforce someone using the name because you said it's CC0 and you have the name of the project on the artwork that I bought.
Speaker: So this could down the road be an issue.
Speaker: So there might need to be a whole new type of copyright that is just for NFTs because these people say, hey, I want you to take this artwork and go do stuff.
Speaker: Go build with it.
Speaker: Think of it as...
Speaker: Um, oh my God, I'm blanking on the word crap code that is open to everybody.
Speaker: Why am I blanking on this word?
Speaker: Ah, fuck.
Speaker: I hate getting older.
Speaker: Um, you guys, you're all screaming it at me.
Speaker: If you're listening to this, you know what I'm talking about and it'll pop into my head later on.
Speaker: So I'm just going to keep going and not think about it because I'll drop myself crazy.
Speaker: Um,
Speaker: So, you know, code that can go out there and they say you can build it, you can build off of it, you can use it in your projects, you just can't charge money for it for this code that I wrote.
Speaker: And that gets sticky because what if that code that you wrote is like 10% of the entire app that you built?
Speaker: Are you not allowed to sell that app now?
Speaker: So I think like you have to give rights to you.
Speaker: You have to like say like, you know, this part is by this person and blah, blah.
Speaker: So there's all these like intricacies to this, to law.
Speaker: So,
Speaker: we're really pushing, I'm not going to say we, the NFT community is pushing creative, creative copyright stuff.
Speaker: And that's good.
Speaker: We want to, you know, you want to push stuff and you want to see how far it goes and where it goes.
Speaker: And it's scary and it's dangerous, but at
Speaker: the more uncomfortable we get, the more comfortable we're going to be in the future.
Speaker: And we're not going to have questions about stuff.
Speaker: Cause that's the thing.
Speaker: When you have like a rigid framework that doesn't deal with any of the grays and it's only black and white, those grays keep coming to the surface.
Speaker: And they're like, what about this?
Speaker: Well, it's just, no, it's black and white.
Speaker: Well, what about this?
Speaker: So like, it's good to question all these little, uh, the, the minutia of this because, uh,
Speaker: We have a tendency as humans to try to be as generic and bland as possible, but that's where a lot of mistakes happen and a lot of people kind of get hurt in those spaces.
Speaker: It's a little like the government.
Speaker: If you leave too many cracks, people start falling through, a lot of people will get hurt, and you just don't want that.
Speaker: We want the same thing with copyright code and all that.
Speaker: You want to clear that up as much as possible so people know that
Speaker: what they can experiment with.
Speaker: So what can you do with an NFT?
Speaker: People are like, oh, you're just selling it back and forth.
Speaker: I mean, so let's think of it this way.
Speaker: Let's say I get married.
Speaker: Never happened, but let's say I do get married.
Speaker: And me and my wife, we decide to take a picture
Speaker: And let's say we had 100 guests and we make 100 copies of this picture and make 100 NFTs.
Speaker: So it's like one of 100, two of 100, three of 100.
Speaker: It's all the same picture.
Speaker: But every single NFT is unique.
Speaker: But all 100 have the same wrapper, a picture of me and my wife, you know, kissing on our wedding day or something like that.
Speaker: So they all look the same, but each one is individual and it's tied to 100 different wallet addresses.
Speaker: Right.
Speaker: And so it's going to be dated.
Speaker: It's going to be stamped and it's going to be connected to a different wallet address.
Speaker: So it's impossible to fake having that because if you don't have the wallet address that's tied to that NFT, no matter how many times you right click, save it, you can't prove that you were at that wedding because you don't have the NFT that's associated with that wallet address.
Speaker: I don't know if that makes sense.
Speaker: Tell me if that makes sense.
Speaker: I can't hear anybody, so I'm assuming it all makes sense to you.
Speaker: So you have 100.
Speaker: And let's say we have our 10-year reunion.
Speaker: And we say, you want to know what?
Speaker: We're billionaires now because we got invested in crypto really early and we bought all these NFTs and they all made us millionaires and billionaires.
Speaker: It's not gonna happen.
Speaker: It's all going to zero.
Speaker: And I'll tell you why later.
Speaker: But we want to take the 100 people and we wanna take them all to Hawaii.
Speaker: So all you have to do is we're gonna have a plane
Speaker: and it's gonna be sitting there, and all you gotta do is sign a transaction with your wallet address to prove that you own the wallet that that NFT's on.
Speaker: There you go.
Speaker: That's a perfect example of an NFT.
Speaker: But the picture is meaningless.
Speaker: It's absolutely meaningless.
Speaker: We could throw that picture away.
Speaker: We could have it on a private server, throw the picture away, but all that information is still there.
Speaker: All that data from the NFT is still there on the blockchain.
Speaker: The only thing that's missing is the wrapper because we were dumb and we put it on a private server and that private server got hacked or whatever and now we don't have it anymore and it got destroyed.
Speaker: But the information underneath the wrapper is
Speaker: is on the blockchain.
Speaker: So all you got to do is sign a contract, sign a transaction from your wallet to that, you know, to prove that you own that wallet that that NFT is on.
Speaker: Boom, you're on the plane.
Speaker: You get to go to Hawaii for our 10 year anniversary.
Speaker: That's just a simple example, like one example.
Speaker: You know, tickets to a concert.
Speaker: Someone, you know, like Alicia Keys could say, I don't know why I picked Alicia Keys.
Speaker: It's just a great name that rolls off the tongue, Alicia Keys.
Speaker: So Alicia Keys has a concert and she sells, you know, she gives away 100 tickets to fans as NFTs.
Speaker: Some people sell them, some people trade them, some people this, some people that.
Speaker: One person tries to right click save the image and mince it as a new NFT to her wallet.
Speaker: because she's crafty.
Speaker: She understands how this stuff works, hoping that other people don't understand how it works.
Speaker: But then, you know, she shows her NFT and it goes back to a wallet that didn't create, it didn't, it doesn't go back to Alicia's key wallet that created the original a hundred NFTs.
Speaker: They say, oh, that's not Alicia.
Speaker: That doesn't go back to Alicia keys wallet.
Speaker: Sorry.
Speaker: That's not a real one.
Speaker: You got a fake.
Speaker: It's that simple.
Speaker: You can prove that you like it's within seconds.
Speaker: You prove that you that that what looks real is on the blockchain.
Speaker: Same image, same everything.
Speaker: But all the data underneath is completely different.
Speaker: And the history of that NFT doesn't go back to the original one that Alicia Keys made.
Speaker: There you go.
Speaker: So these are things like time sensitive, date sensitive.
Speaker: You could put a marriage.
Speaker: So like, let's say we got married.
Speaker: We can put the marriage license on the NFT, on the blockchain.
Speaker: And we can make an NFT.
Speaker: It could be a picture of us kissing on our wedding day.
Speaker: And now our license is on the blockchain.
Speaker: So if anybody says, hey, you know, do you two have, and we make two copies, one for her wallet and one for my wallet.
Speaker: So prove you guys are married.
Speaker: She signs a transaction of that wallet.
Speaker: I sign a transaction on my wallet.
Speaker: They both, through the history of our wallets, go back to that singular point of when we minted our marriage license as an NFT on the blockchain.
Speaker: And now you know that those two wallets...
Speaker: And the people who sign those two wallets or the keys to those two wallets are married.
Speaker: So you have the proof of the marriage license and then you have the proof of the two people who were able to sign those two wallets.
Speaker: Now, could somebody steal the keys?
Speaker: Sure, you can do all these little things, but that's just a way of proving right away if the two people are real, you know, hey, there's our marriage license.
Speaker: We can both sign the contract.
Speaker: We can both sign the transaction.
Speaker: There we go.
Speaker: We're good.
Speaker: That's ours.
Speaker: So that's thing.
Speaker: I don't know what I just said.
Speaker: That's, since I shouldn't read and talk at the same time, that's thing.
Speaker: That's another thing that you can do with NFTs.
Speaker: So someone said, oh, theft is bad.
Speaker: Yeah, kinda sometimes.
Speaker: The majority of the time, yeah, theft is bad.
Speaker: The majority of the time, theft is bad.
Speaker: The only reason why I balk a little bit at that is because if an artist is getting stolen from, that means that artist is making it.
Speaker: Nobody's stealing work from shitty artists that don't make any money, generally.
Speaker: Unless they're really good and they don't know what they're doing and they...
Speaker: refuse to go and put anything on the blockchain and someone steals all the work and puts it on the blockchain.
Speaker: That's a danger.
Speaker: And then because that's going to be a real hassle because then you got to, you know, if you want to stop it, the only real way to stop it is to create an account somewhere, prove that you're that person.
Speaker: And then you can say, no, no, no, this is the real account.
Speaker: Anything else, any other artwork other that that's that you think is mine, that's all fake.
Speaker: it's not going back to me.
Speaker: And guess what?
Speaker: People who are investors, they don't want fake artwork.
Speaker: It's about clout.
Speaker: I was saying this with Gojira on Twitter.
Speaker: Like, you know, I can have a fake Mona Lisa on my wall, but I live in a tiny one bedroom in L.A.,
Speaker: That's shitty.
Speaker: Like nobody thinks that's real.
Speaker: And then everyone's like, why does that dude have a fake Mona Lisa on his wall?
Speaker: What a fucking loser.
Speaker: Right.
Speaker: But if I'm a millionaire and I have an event and people are like, holy shit, is that the real Mona Lisa?
Speaker: It's like, yeah, that's the real Mona Lisa.
Speaker: How fucking cool am I?
Speaker: Now, look, you can have your opinions on people like that who do that kind of stuff.
Speaker: who want to have famous works of art hidden in their basement to show up to their friends, those people need therapy.
Speaker: But there are people out there and they want to support real artists and they want to support by buying the actual work, not buying fake copies of that work.
Speaker: But when it does happen,
Speaker: It's not always a bad thing.
Speaker: Like how many fake purses are there out there?
Speaker: You know, Chinese knockoffs that you can go down to Chinatown in New York and buy these like fake Prada bags or this or that or, you know, I don't know the names, like Birkin bag or something like that, whatever.
Speaker: Does that stop people from buying the real thing?
Speaker: Well, nobody who can afford to buy the real thing is going to buy the knockoff.
Speaker: right?
Speaker: Because it's a sign of status.
Speaker: Poor people or people who can't afford to buy a $10,000 purse or bag, they're going to buy it for 200 bucks and walk around and brag about it.
Speaker: Hey, this is fake.
Speaker: It looks real though, right?
Speaker: Like I got it at Chinatown.
Speaker: How cool is this?
Speaker: Blah, blah.
Speaker: I'd be like, Oh yeah, that's cool.
Speaker: But everybody knows it's fake.
Speaker: Everyone knows you're walking around with a fake.
Speaker: And no one's going to buy it from you thinking it's the real thing.
Speaker: And even if they do buy it from you, it's not hurting Birkin or whoever.
Speaker: Because the person buying a fake bag from a person who bought it, bought a fake bag, they can't afford to buy the real one either.
Speaker: But what it does is it amplifies that brand.
Speaker: And an amplification of a brand is never a bad thing for a brand.
Speaker: Right?
Speaker: So, like, let's not talk about bags because I don't know anything about them.
Speaker: Let's talk about Photoshop.
Speaker: Remember when people were pirating Photoshop left and right?
Speaker: And it was like a sign of success when somebody, an amateur photographer, was starting to finally make enough money where they could afford to buy a real copy of Photoshop.
Speaker: It was a source of pride.
Speaker: It's like, hey, look at this.
Speaker: I can afford $1,500, $600, whatever it was.
Speaker: I forget at the time.
Speaker: I can afford this super expensive-ass piece of software, and when I go into a client that
Speaker: And if they see like, and if they ever see who owns it, it'll say my name and it'll be legitimate.
Speaker: And like, because as an artist, there's nothing, I can't think of anything more embarrassing than going with a client and the client finding out that all my stuff is pirated.
Speaker: Because that just reflects poorly on my ability to be successful as an artist.
Speaker: So it's like nobody wants to be caught having fake stuff.
Speaker: But as artists, we did that because we couldn't afford Photoshop.
Speaker: And GIMP was around, but GIMP wasn't really, GIMP wasn't really like always 100% as good as Photoshop.
Speaker: They didn't have all the, sorry, I just, I'm stumbling because I kind of, it's like I'm almost,
Speaker: That word is almost in my head.
Speaker: It's like fast, fast.
Speaker: Oh, God, it's going to drive me crazy.
Speaker: Free.
Speaker: Okay, let me keep talking.
Speaker: So that was a thing.
Speaker: And then what happened?
Speaker: And so Photoshop wasn't losing market share because the other thing is people were learning how to edit on Photoshop.
Speaker: And eventually they had to buy something if they were making money and they already know how to use Photoshop.
Speaker: So when the time comes that they do have the money, of course they're going to buy Photoshop because that's what they've been using for the last, you know, however many years as amateurs working their way up.
Speaker: And they've built their success off of this software.
Speaker: So of course they're going to start paying for it once they can afford to pay for software.
Speaker: Like that's just what they do.
Speaker: And then what happened?
Speaker: Photoshop, you know, so Adobe kept getting bigger and bigger and bigger.
Speaker: And then they're like, oh, too many people are pirating our software.
Speaker: So we're going to go the freemium, not the freemium route.
Speaker: We're going to go the subscription model.
Speaker: Either $10 a month if you want, just like Lightroom, or $20 a month if you want Photoshop and Lightroom.
Speaker: And people are like, all the amateurs are like, fuck that, dude.
Speaker: I can't afford $20 a month.
Speaker: You know, it's like I'm struggling just to pay rent.
Speaker: And like, this sucks.
Speaker: So what happens?
Speaker: All of a sudden, out of nowhere, tons of alternatives pop up, right?
Speaker: And it came out of nowhere.
Speaker: As soon as the subscription model came out,
Speaker: all of a sudden you start getting Pixelmator, Pixelmator Pro, and I forget a bunch of other ones, but there's like 10 or 15 that when I did a search for Photoshop alternatives, there were a decent amount on this search and good ones.
Speaker: And why did it take so long?
Speaker: Photoshop was around for 20 years.
Speaker: Photoshop was around, was like getting started in, you know, like in the late 90s, mid 90s.
Speaker: It's like when I heard about it.
Speaker: I think there's like Photoshop 4 or something like that.
Speaker: So it's been around for a while.
Speaker: What took so long for a competitor to come up?
Speaker: Well, as soon as amateurs didn't have an option anymore, it felt like these alternatives just started flooding the market.
Speaker: So I almost feel like Photoshop killed themselves because I would never, I would never recommend Photoshop to anybody unless they had a very, very specific need for it.
Speaker: It's like, don't waste your money.
Speaker: You can get Pixelmator Pro for, for, you know, 30, 40 bucks.
Speaker: And that'll last you like three or four years until they do a big update and then ask, ask you to charge you again versus, you know, 120 or $240.
Speaker: Okay.
Speaker: So theft isn't always a bad thing.
Speaker: They did this study of Pirate Bay and they said that all these people were pirating like crazy.
Speaker: And movies and video games.
Speaker: And the movies and video games actually saw an increase in revenue.
Speaker: And what they took it as is people were pirating and if they liked the games, a lot of them were actually going out and buying the game.
Speaker: Because a lot of the services you couldn't necessarily do.
Speaker: You couldn't play online, multiplayer.
Speaker: You couldn't do this.
Speaker: You couldn't do that unless you had the full game.
Speaker: But you could play the PVE version and just play against the computer.
Speaker: And people are like, oh, this is really cool.
Speaker: I really want to play with my friends.
Speaker: And all of a sudden, you have all these more people going out and buying the game.
Speaker: And so they saw an increase in these things, not a decrease.
Speaker: So sometimes it isn't necessarily, it's bad in the moment.
Speaker: It feels bad because theft always feels bad.
Speaker: And as an artist, getting residuals, I want to get residuals, but the data doesn't bear that out that I'm getting less residuals or that artists are making less money in the long run on popular things getting pirated.
Speaker: Okay, so let's get into energy consumption because this is another myth, another big myth.
Speaker: NFTs are burning down the world.
Speaker: Oh my God, NFTs, they're horrible for the environment.
Speaker: NFTs aren't bad for the environment.
Speaker: Proof of work is bad for the environment.
Speaker: If you don't know what proof of work is,
Speaker: then you don't know what you're talking about.
Speaker: That's okay.
Speaker: That's what NFT 101.1 is for.
Speaker: Okay.
Speaker: So proof of work, super, super, super bad.
Speaker: It is horrible for the environment.
Speaker: And I get an argument with Bitcoiners.
Speaker: We're not, we're not going to talk about NFTs right now.
Speaker: Let's talk about proof of work.
Speaker: And I get into argument with, with Bitcoiners.
Speaker: They say, you know, uh,
Speaker: FinTech and just devices that are left plugged in in the US, they all use more energy than Bitcoin.
Speaker: And my response is, per capita?
Speaker: What?
Speaker: What does that mean?
Speaker: Yeah, exactly.
Speaker: So let's break it down with Argentina because Argentina is the country lately, Bitcoin uses the same amount of energy as Argentina.
Speaker: The entire country.
Speaker: So you go to various Bitcoin websites and you just say active wallets.
Speaker: And they say, how many active wallets are there on average per day?
Speaker: And the last time I checked was like a month ago.
Speaker: It was about a million.
Speaker: A million active wallets.
Speaker: Now, the majority of people who are heavy into Bitcoin have multiple wallets.
Speaker: just like the majority of people who are in Nano have multiple wallets.
Speaker: I am in Nano, I am in Ethereum, I am in various different projects.
Speaker: I have multiple wallets on every single one and I use them to send to my wallets.
Speaker: from wallet to wallet, wallet to wallet, just to like move stuff around.
Speaker: I want this stuff in this area.
Speaker: I want to keep, you know, I want to keep some nano in this if I want to buy something.
Speaker: But I want to have like my cold storage there and I've got some on an exchange here and blah, blah.
Speaker: So I've got stuff everywhere.
Speaker: Same with Ethereum, same with whatever.
Speaker: I'd like the ability of moving, being able to move stuff around and not having anything like, not having one singular point of failure if something goes down.
Speaker: So the idea that if there's 100 active Bitcoin, sorry, a million active Bitcoin wallets a day, there's a pretty good chance like 40% of that is actually multiple wallets.
Speaker: But let's just say it's a million.
Speaker: I'm going to be really fucking cool right now and say it's just, it's a million active wallets a day on average.
Speaker: Argentina has almost 38 million people.
Speaker: And they use energy to, you know, brush their teeth, turn on the lights, cook food, drive to work, go online, buy stuff, you know, collect the trash.
Speaker: go on airplanes, go on boats, go to the movies, watch TV, listen to the radio, listen to podcasts, take their kids to the amusement park, whatever.
Speaker: They use energy for everything.
Speaker: So all of that energy from those almost 38 million people, maybe it's almost 39 million, is the same as, on average, people.
Speaker: 1 million active wallets on Bitcoin.
Speaker: So just using Bitcoin is the same amount of energy as 38 million people in Argentina using all energy for every single thing they do.
Speaker: Going to the bank, using the hairdryer,
Speaker: using a vibrator, whatever, recharging their vibrator.
Speaker: It's all that energy, all combined, is the same as a million active wallets on Bitcoin.
Speaker: So what does that tell you?
Speaker: So I'm being nice.
Speaker: I'm going to say it's a million people.
Speaker: A million active wallets equals a million people, even though we know that's not true.
Speaker: One million people using Bitcoin is
Speaker: is 38 times more inefficient than the entire country of Argentina.
Speaker: That's insane.
Speaker: One million people just to move some Bitcoin back and forth.
Speaker: That's not their entire day's energy.
Speaker: Just moving Bitcoin back and forth is the same amount as 38 million people in Argentina using all the electricity they do for everything for the entire day.
Speaker: That is insane.
Speaker: So when people say proof of work isn't that bad.
Speaker: Yes, it is fucking terrible.
Speaker: It is fucking awful.
Speaker: It is so wasteful.
Speaker: And they're like, well, it's going to get better.
Speaker: No, it's not.
Speaker: It is getting worse.
Speaker: At no point since Bitcoin started has the energy expenditure gotten better.
Speaker: Except for a few points where a bunch of stuff went offline and all the hash rate plummeted, like 12%.
Speaker: Like when China shut down or when Kazakhstan, this stuff happened in Kazakhstan or like, you know, whatever.
Speaker: But as the price goes up on Bitcoin, the energy expenditure goes up on Bitcoin.
Speaker: And you can say, wow, you know, we're going to have a lot more clean energy in this and that.
Speaker: No.
Speaker: The energy expenditure increases.
Speaker: And right now it's increasing at a rate faster than we're creating clean energy.
Speaker: The world cannot keep up with Bitcoin's energy expenditure.
Speaker: let alone creating new clean energy to keep up with Bitcoins.
Speaker: And I'm just talking about Bitcoin.
Speaker: I'm not even including Ethereum.
Speaker: So proof of work is terrible.
Speaker: But now we're going to get back into NFTs, the big but.
Speaker: NFTs don't make a difference.
Speaker: Right?
Speaker: Because it's just information on a blockchain.
Speaker: That blockchain is producing blocks at a specific time every single day.
Speaker: So Bitcoin, it's one block per 10 minutes.
Speaker: So that block is getting mined every 10 minutes, no matter what.
Speaker: Whether if there's zero transaction on that block or there's 10,000
Speaker: but it can't handle 10,000 transactions.
Speaker: So what happened is, let's say it can handle, you know, 100 transactions in that 10 minute block.
Speaker: It's not that.
Speaker: It's like seven transactions per second into 10 minutes, whatever it is.
Speaker: Let's say 100 just to make it easier.
Speaker: So if there's 100 transactions that can fit in that block, that means there's 900 people waiting in line for the next block.
Speaker: And the goal is hopefully that queue shrinks over time as opposed to increasing over time.
Speaker: Because if every single person on the planet is trying to do that, it would take something like 100 years to have every single person on the planet make one transaction on Bitcoin.
Speaker: So it doesn't matter if that transaction is an NFT or a payment or whatever.
Speaker: it's still getting mined.
Speaker: It's still producing the, it's still using the same amount of energy and still producing the same amount of CO2.
Speaker: So the same thing for Ethereum.
Speaker: Ethereum has smart contracts.
Speaker: Ethereum has NFTs.
Speaker: Ethereum has DeFi.
Speaker: Ethereum has, you know, it's got a ton of stuff.
Speaker: It's a Swiss army knife as Vitalik said on our show.
Speaker: Um,
Speaker: It doesn't matter if the only thing, so the only thing that NFTs affect are the price of the transaction, right?
Speaker: Because it's a free market.
Speaker: It's a free market system.
Speaker: So if it can only handle 100 people per block, well, if you have some billionaires in there, they're going to be like, hey, I want to get to the front of the line.
Speaker: It's just like going to a nightclub.
Speaker: If you got $100 in your pocket and you're willing to give to that door guy, you're probably going to get in.
Speaker: Even if there's 1,000 people in line ahead of you.
Speaker: That's just how the market works.
Speaker: It may not be fair.
Speaker: It may, you know, whatever.
Speaker: But that's how the current system works.
Speaker: So all of a sudden people are like, oh shit, I really want to get this transaction through.
Speaker: Right now it says it's 60 bucks.
Speaker: I'm going to hold off.
Speaker: Well, there's a thousand people behind you who are thinking the same exact thing.
Speaker: And the next person says, you know, 60 bucks isn't so bad.
Speaker: So one guy says, so one guy clicked 60.
Speaker: And the next two people were like, oh shit, that dude just hit 60.
Speaker: And the block producer's like, ooh, that dude just hit 60.
Speaker: I'm going to charge 62.
Speaker: And then the next person, I'm gonna charge 65.
Speaker: I'm gonna charge 100.
Speaker: And all of a sudden, you've got like $500 transaction fees because the queue is so long and you have so many rich people who bought into Ethereum really early that they're willing to pay these prices because they want their transaction to go through right away.
Speaker: Because it's time sensitive.
Speaker: Because if you're trying to buy this cool NFT that you want, you want to get it before somebody else does.
Speaker: And if you're rich and the person you're competing against is rich, it's whoever can click that button the fastest.
Speaker: Because I guarantee you, they're not even looking at the transaction fee.
Speaker: They just want that right away.
Speaker: So it makes no difference CO2 wise, energy expenditure wise.
Speaker: NFTs have zero bearing because that block is getting mined to no matter what.
Speaker: The only thing NFTs do is increase the price to get the transaction to go through the gas, the gas to run the network.
Speaker: So NFTs are evil to poor people on Ethereum.
Speaker: They're not evil to the planet though.
Speaker: Proof of work is evil to the planet.
Speaker: And the reason why I give Ethereum a pass is because they've been actively working to switch over to proof of stake.
Speaker: People are like, well, you know, they're taking so long.
Speaker: It's been three years.
Speaker: Give them a fucking break.
Speaker: They're trying to move a chain to a new system, proof of stake, and there's already like
Speaker: like $500 billion on the entire network between all the different cryptos and all the different dApps and all the different projects.
Speaker: And it's just like there is so much money on there.
Speaker: They don't want to fuck up and have everything go to zero.
Speaker: Because I guarantee you if Ethereum does that, no one's going to use Ethereum ever again.
Speaker: So they can't mess that up.
Speaker: Because there's already a bunch of proof of stake networks out there that are already building a lot of TVL, total value locked.
Speaker: So they want to make sure to get it right so they don't mess up and have everybody jump ship to Avalanche or Phantom or Harmony One or Near.
Speaker: There's just so many competitors now that are proving to be solid competitors.
Speaker: So it takes time.
Speaker: I'm giving them a pass because they're not trying to say the problem doesn't exist.
Speaker: They're acknowledging, they're like yes, proof of work is bad.
Speaker: We didn't know about how much CO2 we were burning, but we did know how congested the network was getting back in 2017 and 2018 with CryptoKitties.
Speaker: And we immediately realized this is unsustainable.
Speaker: So they started working to figure out how to move over to proof of stake.
Speaker: So they're real scientists.
Speaker: They admit the science does not support them.
Speaker: Proof of work is not sustainable in any way, long term or short term.
Speaker: And so they put their gigabrains together and they're figuring out how to switch it.
Speaker: They're acknowledging the problem.
Speaker: They're acknowledging, acknowledging.
Speaker: They're acknowledging the problem and they're working to fix it.
Speaker: That's what we want people to do in real life.
Speaker: Because the alternative is they don't acknowledge the problem and they try to gaslight you into believing the problem isn't real.
Speaker: We don't want that.
Speaker: So when someone acknowledges the problem and works to try to fix it, support them.
Speaker: Don't call them a fucking asshole.
Speaker: Because then all you're doing is sending mixed messages to the person.
Speaker: They're like, wait a minute.
Speaker: I thought I was doing a good thing.
Speaker: Now you're calling me a piece of shit.
Speaker: That's not good.
Speaker: Don't do that.
Speaker: People who do that need therapy.
Speaker: I think that's it.
Speaker: I think that's it.
Speaker: I think I talked about everything.
Speaker: Hold on.
Speaker: Oh, shit.
Speaker: Oh, shit.
Speaker: Okay, there's more.
Speaker: Hold on.
Speaker: I'm going to put that back there.
Speaker: Put that there.
Speaker: Okay.
Speaker: CCO.
Speaker: Check.
Speaker: Marriage.
Speaker: Check.
Speaker: Energy consumption.
Speaker: Residuals.
Speaker: Theft isn't always a bad thing.
Speaker: Photoshop.
Speaker: Okay.
Speaker: Okay.
Speaker: Another thing that NFTs are great for is once it's on the chain, it's on the chain.
Speaker: And if a new project says anything that's on the chain can be used in our game, then you can use any NFT you bought anywhere and put it on and use it in their game.
Speaker: Now, in the beginning, probably most of them are going to be like, no, no, no, you got to buy our stuff.
Speaker: People are going to be like, okay, we just want to use the metaverse.
Speaker: But as soon as that first person comes out and says, I built the world and it's a free for all.
Speaker: Anybody can use any NFT they own.
Speaker: It's going to be game over.
Speaker: People are only going to use at that point projects where they can use all their NFTs.
Speaker: And I liken it to World of Warcraft.
Speaker: If you've ever played World of Warcraft, you know about the shop, like buying mounts in the shop.
Speaker: And people get pissed off to no end because all of a sudden they spent money on this and then they've got this stupid fucking horse that flies.
Speaker: And they're like, oh, it looks so cool.
Speaker: And then all of a sudden they're like, you know what?
Speaker: WoW is stupid.
Speaker: Blizzard are a bunch of pieces of shit.
Speaker: I don't want to play anymore.
Speaker: Great.
Speaker: I bought all this fucking like dumb mounts and I can't use any of them ever again because I don't want to support Blizzard and keep paying for their game.
Speaker: Well, guess what?
Speaker: That wouldn't happen in the metaverse.
Speaker: Because if you bought something, it's on the chain as an NFT.
Speaker: And then you can use that NFT in any new game if they allow for those NFTs to be used.
Speaker: So the reason why I say if allowed is because in the beginning,
Speaker: You know, the people building the metaverse, like let's say Sandbox, they have to code to allow things to be in there, and that takes time.
Speaker: So that's why they built that relationship with Vox Adeos, is because they have to go in and create...
Speaker: new avatars based on the Voxodeos and say, if you own a Voxodeos, you get this avatar in our game.
Speaker: You can use it.
Speaker: They have to do that in the beginning because right now it's still new technology.
Speaker: It's going to take time.
Speaker: It's like manual labor, whereas 10 years from now, they'll just be able to press a button and be like, boop, it'll just automatically port.
Speaker: You know, two years ago, we didn't have the ability to do cross-chain trades.
Speaker: We didn't have the ability to bridge.
Speaker: We didn't have to be able to do anything.
Speaker: And now, I don't know if we can do cross-chain.
Speaker: I think we're still working on cross-chain trades.
Speaker: But we're able to bridge easily.
Speaker: You know, KuCoin, two years ago, or a year ago, I couldn't buy Matic on KuCoin and send it to the Polygon network.
Speaker: I had to buy Matic, send it back to Ethereum, and then bridge, once the bridge came out, and bridge that to the Matic Polygon network.
Speaker: It was asinine.
Speaker: It drove me crazy.
Speaker: But...
Speaker: That's something KuCoin had to code by hand.
Speaker: Had to manually go in there and rewrite code and say, okay, now this is an option, blah, blah.
Speaker: It takes time.
Speaker: It just takes time.
Speaker: So eventually, any NFT you buy is going to be immediately able to be played anywhere else.
Speaker: It's going to happen.
Speaker: I guarantee it.
Speaker: So that's another great thing.
Speaker: Yeah.
Speaker: And yes, NFTs seem like a scam because they're so expensive.
Speaker: But, you know, so did electric cars at first, right?
Speaker: Electric cars were crazy expensive because it's all new technology.
Speaker: People are testing stuff out.
Speaker: And you got to remember, you know, these transactions are costing like,
Speaker: hundreds of dollars every single time and someone's trying to upload 10,000 pieces of artwork for a series.
Speaker: It takes time.
Speaker: It takes money.
Speaker: It's like, it's expensive.
Speaker: It's, and then you got to mint it all.
Speaker: And there's just so much money flowing around right now that,
Speaker: And also everyone's fucking rich.
Speaker: And all these people who got into Ethereum early, they're all rich.
Speaker: And it's insane how rich these people are.
Speaker: So it's going to die down.
Speaker: Once average people get involved, they realize people are going to say, okay, so it goes back to the thing of when Apple started putting 99 cent songs on there.
Speaker: People were like, well, th is is stupid.
Speaker: No one's going to buy that because they want the whole album.
Speaker: Well, no, nobody wanted the whole album, right?
Speaker: And it drove artists crazy because they're like, we cracked this whole album.
Speaker: And people were like, yeah, but you're a one-hit wonder.
Speaker: The rest of your album sucks.
Speaker: We just want that one song.
Speaker: Make better songs and we'll buy the whole album.
Speaker: And people who made great albums sold entire albums.
Speaker: People who made one really good song and the rest of your album sucked, they sold one song.
Speaker: And guess what?
Speaker: They still made a ton of money because you have more people who can afford 99 cents versus $20 for an entire album or $16 for a whole CD.
Speaker: Well, so the same thing's going to happen with NFTs.
Speaker: There's always going to be those expensive entities, just like there's always going to be those expensive cars.
Speaker: But eventually someone's going to say, hey, why would I do a run of $10,000 and sell it out for $5 million by selling them for like $300 each when I could do a run of a million and sell them for $5 each?
Speaker: or a run of $100 million and sell them for $5 each.
Speaker: Because there's way more people in the world that can afford a $5 NFT than can afford a $300 NFT.
Speaker: So there's going to be those out there for people.
Speaker: It's going to happen.
Speaker: It just takes time.
Speaker: You know, we have $300 bikes on the market.
Speaker: We also have $10,000 bikes on the market.
Speaker: There's a market.
Speaker: If there's a market for it, it will exist.
Speaker: That's just the way the market works.
Speaker: And what do I say?
Speaker: I love the free market for things that I can say no to.
Speaker: I can say no to an NFT.
Speaker: That's why I love it for the free market.
Speaker: I can't say no to, you know, gas for heating in the wintertime.
Speaker: I can't say no to that.
Speaker: Or I can say no to it in LA, but somebody in the Pacific Northeast or the Pacific Northwest or, you know, Vermont, they can't afford to say no.
Speaker: They'll freeze to death.
Speaker: If I'm having a heart attack, I can't afford to say no to the first hospital I show up at because I ask them the price and they say, oh, it's $100,000.
Speaker: I'm like, I don't fucking care.
Speaker: Please save my life.
Speaker: If I'm walking in the desert and some guy has a gallon of water and says, I'll sell you for $1,000, it's like, yes, please.
Speaker: Because I'm 100 miles from the nearest water and I will pay anything for that.
Speaker: So I love the free market for things that I can say no to you.
Speaker: There's no such thing as a free market to things that you can't say no to though.
Speaker: And that's the politics.
Speaker: I get a lot of people making fun of my avatar.
Speaker: Like, Oh, I see why you h ave a clown bar.
Speaker: No, it's a dude with a cloud with a clown nose.
Speaker: He's not a clown.
Speaker: It's a guy wearing a nose.
Speaker: But I wear it, I use that because as a reminder to myself and others that 99.9% of these NFT projects are gonna go to zero.
Speaker: All right, so the avatar I use, the PFP, excuse me, is from a project
Speaker: An amazing artist, absolutely incredible artist.
Speaker: I watched the video of how he created these things and they were phenomenal.
Speaker: He used a machine to actually draw the images using just, so like click on my avatar and blow it, you know, and zoom in on it and see like these squiggly marks that turned into this amazing piece of art.
Speaker: So he did that.
Speaker: I'm not going to say his name because he doesn't want anything to do with this project.
Speaker: Apparently somebody paid him to make it.
Speaker: And I love the idea of the project.
Speaker: There's a vampire attack on, um, fake punks on the, on the Binance smart chain.
Speaker: And the idea was, um, let's get rid of those.
Speaker: So if you buy one of those and you burn it, you send it to an address to a burn address.
Speaker: we'll give you a spunk for free.
Speaker: And it's, you know, it's a derivative of bunks, but it's not a complete ripoff.
Speaker: So it goes to zero.
Speaker: The person who founded it, who funded it, just bailed and went off on something else and wouldn't even talk to the people who bought all.
Speaker: So like some people got a bunch for free, a bunch of people bought a bunch, and then he just fucking bailed on it.
Speaker: Now, I want to remind people is that that's not a scam.
Speaker: I am under like no agreement with this person that he's going to be around forever holding my hand.
Speaker: I bought a piece of artwork that I liked.
Speaker: I got some for free.
Speaker: I bought one or two.
Speaker: That's it.
Speaker: Transaction complete.
Speaker: That is not a scam.
Speaker: If I'm unhappy with it afterwards, that doesn't make it a scam.
Speaker: It means that I'm unhappy.
Speaker: And I don't get to call everything that I'm unhappy with a scam.
Speaker: I'm not a child.
Speaker: Like that's what children do.
Speaker: So it's not a scam.
Speaker: I still own it.
Speaker: It's on the blockchain.
Speaker: I can sign a transaction proving that it's mine.
Speaker: That's not a scam.
Speaker: I don't know what to tell people.
Speaker: It's like, that's not how scams work.
Speaker: A scam is, I'm going to give you this for that amount of money.
Speaker: Thank you for the money.
Speaker: Oh, the thing I told you, you're not going to get it.
Speaker: Or you're going to get something entirely different.
Speaker: That's a scam.
Speaker: Or if they say, see this oil right here?
Speaker: It's not snake oil.
Speaker: It's going to make you grow back all your hair.
Speaker: And it leaves town with the money.
Speaker: Oh, it didn't grow back my hair.
Speaker: Oh, it's snake oil.
Speaker: Fuck.
Speaker: That's a scam.
Speaker: So my PFP is, I'm not going to say it's worthless, but it's pretty much worthless.
Speaker: Now the community is fighting back.
Speaker: They took ownership of it.
Speaker: They convinced the person who funded it to give them the keys for it, the control over the project.
Speaker: And they have it now.
Speaker: So they're going to try a few different things to see if to generate some interest in it because the art is really cool.
Speaker: I made a t-shirt out of mine.
Speaker: I love it.
Speaker: I really like my PFP.
Speaker: I think it's funny because it's just a normal dude and you put one little thing on his face
Speaker: Just a clown nose.
Speaker: And people think he's a clown.
Speaker: And to me, that's funny because it's just like, just you make once, because in my life, I would literally walk down the street and see friends.
Speaker: And if I had a hat on, they wouldn't recognize me.
Speaker: If I changed one small thing about me, for whatever reason, I just blend in and I look completely different to people.
Speaker: People have known me my entire life.
Speaker: And I've always found that fascinating and weird because I'm such a visual person and I never forget faces.
Speaker: And so that's just kind of, that's why I use that PFP.
Speaker: I think it's amazing because people are like, as soon as they see clown nose, they see clown, even though nothing else about the person is a clown.
Speaker: So, you know, it's just my way of clowning people and fucking with them.
Speaker: But also a gentle reminder of like all this shit's gonna go to zero.
Speaker: Just assume it's all gonna go to zero.
Speaker: And if it doesn't, cool.
Speaker: But if it does go to zero, and it's also a reminder to me it's only by stuff that I actually enjoy looking at occasionally.
Speaker: You know, and it's artwork.
Speaker: I own that artwork.
Speaker: I can hang it up on my wall.
Speaker: I can do whatever I want with it, some of it.
Speaker: Some of it's CCO, CC0, some of it's not.
Speaker: But like the stuff that's CC0, I can print that out, I can make a t-shirt out of it, I can write a script for it and use that character as one of the characters in the script.
Speaker: I can,
Speaker: Printed on my wall.
Speaker: I can have a gallery event and have that up as my artwork.
Speaker: I mean, artwork that I own.
Speaker: I don't need the original artist's permission because he gave me full control over it or she or they or whoever.
Speaker: So don't get tricked into everything that the mainstream media says.
Speaker: The mainstream media is giving you the information they have.
Speaker: There is so much information out there that it's very hard for people to get, you know, to do deep dives into stuff.
Speaker: And we see it in Congress when senators talk and you're like, okay, the person who gave you that information spent 10 minutes Googling it and it's, you know, 85% of it's wrong or just inaccurate or just, you know, just not true.
Speaker: It's just like, come on.
Speaker: But they've got a thousand meetings every year they have to go to and get all this information from.
Speaker: So it's just like, if you think NFTs are a scam, you're wrong.
Speaker: Does that mean you can't get scammed with NFTs?
Speaker: No.
Speaker: There are NFT scams out there, but NFTs aren't a scam.
Speaker: The people who are trying to scam you are the scammers.
Speaker: If you get the thing that you paid for, that's not a scam.
Speaker: If you're unhappy with the thing you got that you paid for,
Speaker: Go see a therapist or do some self-reflection, meditate, whatever.
Speaker: Just learn to stop making mistakes.
Speaker: Stop blaming other people for your bad investments or your choices in what you buy.
Speaker: Like if you buy a backpack and it lasts you three years and falls apart over three years, is it a scam?
Speaker: Well, if they say it's gonna last forever, yeah.
Speaker: But like, you gotta be realistic.
Speaker: Backpacks don't last that long.
Speaker: Or buy one that has 100% warranty.
Speaker: Like, do your research.
Speaker: I bought something that was, I totally felt like I got scammed.
Speaker: Soundproof blankets.
Speaker: No, it was sound blocking blankets.
Speaker: Shit.
Speaker: Spent $160 on sound blocking blankets because there's construction down the street from me and it doesn't block the sound.
Speaker: Oh, it was sound absorbing blankets.
Speaker: I didn't buy the sound blocking ones.
Speaker: And it's going to cost $100 to mail back $160 blankets.
Speaker: Fuck that.
Speaker: I just lost $160.
Speaker: Did I get scammed?
Speaker: No, I just didn't read the site well enough.
Speaker: It was there.
Speaker: I'm fucking pissed off about it because I don't have $160 to lose, but there you go.
Speaker: It's not a scam.
Speaker: So I made a bad decision.
Speaker: That is my fault.
Speaker: That is nobody else's fault but mine.
Speaker: So people need to take responsibility for themselves.
Speaker: Not everything is a scam.
Speaker: Most of the time it's just you being dumb.
Speaker: Learn from it.
Speaker: Okay.
Speaker: Okay.
Speaker: Now go out and buy my NFTs and pump my bags so I can dump on you.
Speaker: Okay, I'm just kidding.
Speaker: Don't do that.
Speaker: Don't do that.
Speaker: Buy something if you like it.
Speaker: If you like it and you have the money you can afford, just buy it.
Speaker: Support the artist.
Speaker: Make sure you're actually getting a legitimate one though.
Speaker: Maybe I'll do NFT 102 and teach people how to quickly check to make sure it's the real one.
Speaker: So, all right.
Speaker: Thanks for listening.
Speaker: You guys rock.
Speaker: You all rock.
Speaker: Not you guys.
Speaker: You all rock.
Speaker: Keep listening.
Speaker: Keep staying smart.
Speaker: Keep questioning things.
Speaker: And I'll talk to you on the next one.
