What's up, guys?
We are here at NFT.NYC just closing up the week.
We normally bring you the news over on our metaverse channel,
Meta Money.
Go ahead and check that out.
But the biggest news right now is what's going on here in New York.
Justin, how are you liking the conference so far?
Man, I've got to tell you. I had a really good time.
It was really good to connect with not only our friends
- but community members, projects, all that stuff. - Yeah.
Well, I'm going to tell you, I find it really interesting
that people are in a really good mood.
- Why are they in a good mood in a bear market? - Yeah.
I don't know. Like, everything is way down.
I feel like, especially NFTs, like, people have lost a lot of money in the past two months.
I don't know if it's just, like, delusional, or, like, they just don't want to believe it yet.
Does that mean that we've got to go down more?
I don't know. Yeah. Does there need to be more pain first?
Like, is that like a good sign that, like, retail is still not hurting by this?
Like, I don't know.
I don't know. Maybe this is now, you know, some of these industries or these ecosystems, right?
You know, you got the pillar that is crypto.
You know, specifically like blockchain and Bitcoin and Ethereum.
- Yeah. - Then you've got NFTs.
- Yeah. - Metaverse.
Where they kind of are running on their own little ecosystems, right?
I mean, like, the communities that work on these NFTs and these projects,
you know, they don't care about the Bitcoin price.
- Yeah. - We've come to find that out.
Like, the sentiment at this conference, everyone was literally in a great mood.
- It's a different group of people. - It's a different group of people.
It's a bunch of young people.
It's people that really, really care about community.
Like, if you're into NFTs, in general, like, you want to belong to a community.
I think that's one of the greatest thing about NFTs currently.
Now, we're still in the early infancy stage of that. And that's, like, their best use case.
But, man, there's some mainstream stuff going on.
We got major concerts, major artists,
Snoop Dogg and Eminem coming out with a Bored Ape music video
presenting it live at the conference.
- That was sick. - That was so cool.
- It was awesome. - It was cool.
I got to go to ApeFest a couple times here and really learn what that community is trying to do.
Because I think what the Bored Ape Yacht Club community is doing
Yeah?
probably is going to be the playbook moving forward for a lot of these other communities,
whether it's like, you know,
because that was, like, a lot of people were saying, like,
"This is utility!"
- You know? Like, you know. - Yeah.
Yeah, we're at a concert seeing Snoop Dogg, Lil Wayne.
- You know, Eminem was there, but he didn't perform. - Yeah.
A lot of really good artists over the last couple of nights.
But that's utility.
- Like, they are providing you something. - Right.
It was all free to get in.
They're providing you something that is cooler than most.
Yeah. And they're not giving up. Like, projects are still building right now.
And that's also one of the other reasons why we're here, why Ben is here,
is we're really making connections, meeting with a bunch of people,
you know, really trying to figure out where we're going to pivot to,
where we're going to go in the future and really setting up that groundwork
and, you know, that community right now.
And it's something I challenge everybody to do.
Like, you don't have to go to one of these big conferences,
but you do need to make sure that you get involved
with some type of community right now, especially when things are down
because people are going to call you crazy, right?
Like, yeah, like, but if you're around people--
- And if you can deal with it, - Yeah?
just being called crazy,
- you're going to come out on the other side ahead. - That's true.
That's true. There's going to be a lot of people that lose a lot right here
and then they're just going to give up.
And there's going to be a lot of people that come out super, super winners in the space.
That goes for projects and that goes for people.
Absolutely. I mean, it's like a shakeout.
You have to think, like, people will capitulate, projects are going to get shaken out, capitulate,
- but the space needs it, right? Like, at some point. - Yeah.
Like, recently, there's like 20,000 crypto coins.
- Like, that's a lot! - Yeah.
- I think that's too many. - Yeah.
So, like, you need stuff like this to shake that out, like you were saying.
But, you know, I'm really excited to see where things come on the other end of this
because, you know, some people say, "Oh, it's going to be two years, a year."
- Whatever it is, it's, you know. - Yeah.
We're midway through 2022.
And if it happens to, you know, the bull market comes back in 2024,
- okay. - Yeah.
It's a lot of time to build, shake out, you know, some of these bad projects,
but, really, just figure out who's going to have some longevity in the space
- because that's the most important. - Yeah, for sure.
I mean, overall, like we started this off, like, the sentiment is still good,
- so it's strange to me. - Yeah.
I'm used to going, like, the last bear market was very, very dark, like, lonely.
You go to, like, a conference set up for 2,000 people,
and there's 30 people there.
There was over 15,000 people here roaming around the city of New York,
which is an old money city, right?
You have the financial district here.
A lot against NFTs and against crypto here.
And so it's cool to see people parading around here with new tech, with blockchain,
and, like, really forward thinking.
It makes me excited about what we're doing in the metaverse and Web3
and just kind of growing all together.
So I'm excited.
I know we're early and, you know.
We're going to put in our time during--
- Experiment it. - We're going to grind.
And it's going to be awesome when things come back.
- Yeah. - I'm really excited.
For sure.
- Well? - I think that's it. Let's close it out.
I've got to get to the airport.
Hey! Thanks, BitSquad, for hanging out with us this morning.
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