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The following transcript was created using artificial intelligence. There will be some grammatical errors below.

00:01:06:21 – 00:01:39:10

Richard Carthon: Tell everyone. Welcome to another episode of Crypto Current your host here, Richard Carthon. And today I have a special guest with me. You might have heard his voice once or twice and you know, you’ve come to grow and love him. We have our colleague Steve Miller in the House with me today. How are you doing today, Steve? I’m doing great, rich, beautiful day and can’t wait to talk a little bit of crypto with you. Absolutely. So. As some of you might know, Steve and I. Are starting to a lot more different variations of content.

00:01:39:12 – 00:02:09:19

Richard Carthon: One of the ones that you might know is the aftershock, which Steve has been running, doing an exceptional job with. And within that segments, we have been doing and covering a lot of news around in a tease. Some that you’ll also might not know is that Steve and I actually run an NFT company where we do investing in NFT projects. So we are constantly looking at the NFT market, we are constantly finding alpha and we are constantly finding ways to get involved in various things.

00:02:09:21 – 00:02:43:02

Steven Miller: So we want to, of course as we are educating you on all things crypto to also be able to educate you even more so in the world of NFT. So much so before we get into the main topic, we kind of want to take you up on something that’s coming pretty soon. Steve, you want to talk about that a little bit? Yeah. So for those that are not aware, we run this side fund that we call SVG capital or Savage Capital. And the reason we went with SVG is because that is, of course, one of the more fun vector formats for graphics or a little fun play on words.

00:02:43:15 – 00:03:16:19

Richard Carthon: And within that, we’ve decided that we’re gonna start spinning out some additional content for you that’s going to be specific around NFT Alpha. So that is our little thing that we’re rolling forward with. But I think today, Rich, the big topic that we want to get into is a lot more important than this little spin off show that we’re going to be doing in the future for our fans. But again, we hope that you look forward to that and let us know what you think in the comments on this video on YouTube or let us know in a review if you can take the time to do that for us over on Apple Podcasts or Spotify to let us know that you’re looking forward to that show.

00:03:17:09 – 00:03:22:02

Richard Carthon: But the big topic today is going to be Coinbase, right? Absolutely, man. So

00:03:23:18 – 00:04:01:07

Richard Carthon: we have been waiting for this moment and the moment is is right around the corner and that is when there would be a competitor in the market to Opensea. So for those who are in the world of Nfts, you have probably experienced Opensea at some point. And even if you are not and you have looked at an NFT at some point, it’s a good chance that you brought up that NFT onto Opensea. Now, Coinbase, which is one of the biggest exchanges as it relates to all things, cryptocurrency is out to compete and they just launched their Coinbase NFT platform.

00:04:01:09 – 00:04:34:01

Richard Carthon: It is in beta now. This is huge news, especially around a ton of volume re-entering the space around this project called what is that, Steve Moon Birds. You want to talk about that for a second? You know, I feel like on the aftershock, if you decide you want to go back and play back, the biggest, longest rant on moon words ever, you can go and learn more about moon birds there. But I believe that the roll out of Coinbase NFT has been one of the more interesting but also funny things that’s happened in the crypto landscape in recent memory.

00:04:34:27 – 00:05:07:27

Richard Carthon: The big reason is, is that they never wanted to cement a roadmap, right? Like they never wanted to tell us when it was coming. And I find it super ironic because they launched the thing on 420 and that kind of just lines up with them not wanting to provide any concrete details. They wanted to be as chill as possible about it. Right now. Talk about good timing. Now as we look into the world of NAFTA and we look at the access that a lot of people who one when you think about people learning about cryptocurrency in the blockchain space.

00:05:08:26 – 00:05:40:09

Richard Carthon: Last year, we saw this this turning point where everyone in the world started paying way more attention to cryptocurrency because of NFT, because the boarded yachts and everything else that was going on where all these people were making a ton of money selling nfts. And so people started to pay attention. So that’s it’s been roughly a year. So at the time of this recording, it is late April 2022. And a lot of this craze started happening about a year ago, around March, April of last year.

00:05:40:18 – 00:06:13:07

Richard Carthon: Now, a year in. We saw a tremendous amount of volume start to go towards open sea. The open sea wasn’t open. He’s been around for a long time, but they were not seeing a ton of traffic and volume and seeing is a tremendous amount of money. They money, the amount of money that has flown into open sea in the last year has turned so many hits like what they’re at. One point they were doing, what, $1,000,000,000 a month in transactions like they were making, like kind of living on on it’s on its own.

00:06:13:16 – 00:06:46:16

Richard Carthon: That’s an insane number. The fact that they were turning that type of volume just on Coinbase alone, because I believe you’re trying to you’re referring to just Coinbase as volume or are you trying to talk about open season? Just open sea salt and seas with within the NFT market. I thought you were specifically referring to Coinbase as volume. I was like, why are you talking about Coinbase is volume? But I may have just been another in another world for a second there. Yeah. So Opensea started just on an absolute tear in like October of last year and in I think was also September of last year.

00:06:46:27 – 00:07:23:06

Richard Carthon: And they saw volume into the billions. I don’t know the exact number off top of my head but we saw is current month actually trumped that so we’re right now very clearly on pace to break that number for what volume has been. But this is just, in my opinion, the start. We’re seeing some really high quality products be brought out right now. And the other one that I think is kind of big around the same exact month to your point. Is Dave right? Or Dave is actually coming up right now and we may actually end up releasing this episode on the actual day itself.

00:07:23:28 – 00:07:32:28

Richard Carthon: Coming up on it’s one year birthday. So we are literally right at the start of like when NFT started to go absolutely nuts.

00:07:36:13 – 00:08:20:21

Richard Carthon: And I think the exciting part of. All of this coming to fruition over the last year. Entities are still relatively new cryptos. Very new entities are even more so new and been way more niche. And for the amount of people who’ve invested, there’s been a lot more people who’ve been burned by Nfts than there have been people who have been successful at it. But just like trying to find ways to become successful in your own crypto investments, there is a way and strategies around how you can find projects, get into them and then decide whether they are short term holds, mid term holds or even long term holds and become very lucrative.

00:08:21:00 – 00:09:09:27

Richard Carthon: Not not just your modern day flex, not just something cool to have, which, you know, that’s always fun too, but to make some real money from being able to find different opportunities. And that is a lot of part of what Steve and I are doing now is being able to find some of these opportunities and try to get them to them early and where we’re learning a lot of lessons along the way and we’re going to start sharing a lot more of that with you as as as we do this. But again, the talking point today and the subject that I want to bring home for you all is the question I’m going to pose to Steven is with Coinbase, NFT, Beta coming out, what does this mean for the market and what does this mean for most people who are in the who are trying to enter into the crypto space? What is this going to do? So it’s a really great question.

00:09:10:17 – 00:09:47:04

Richard Carthon: I think right now with what your original question was about open sees volume. It goes to say that like and this is kind of why my brain was tuned a little bit differently when I was answering that last question. It’s because there’s a lot of conclusions you can draw very clearly from the type of volume that you see on a platform like Coinbase, it’s regularly onboarding customers and the first point of entry for a lot of people who want to come into crypto and best. Opensea having been the go to for Nfts, there’s a lot of steps to get there, right? You’ve got to do a lot.

00:09:47:06 – 00:10:17:05

Richard Carthon: You need onboarding money into Coinbase. You have to make sure that you purchase ether with it. You have to then set up a metamask. Then you have to send, you know, for the very first time out of Coinbase, your own Eve into that metamask and then you have to connect the Metamask to Opensea. It’s a process. So to me, Coinbase NFT has the opportunity to start taking away a massive chunk of open sees volume immediately and then kind of multiply on it exponentially.

00:10:17:22 – 00:10:22:00

Richard Carthon: Right? We could theoretically start seeing the NFT market become a.

00:10:24:02 – 00:10:54:04

Richard Carthon: What is that? It’s a it would be a an eight figure monthly. Volume play. Just across all the exchanges. Just because Coinbase NFT is coming on platform. So there’s a lot of opportunity. But I think at large, what it means for the entire NFT and web3 space is exposure to nfts and next level content and access passes and all the things that we’ve come to see in the NFT space.

00:10:54:29 – 00:11:28:28

Richard Carthon: It’s going to be a lot more prevalent and it’s going be a lot more competitive in terms of pricing. But it’s going to be brought to so many more people, so many more people have access so quickly. And to add on to that. When you talk about an easy onboarding and all the steps that Steven just said, right, you have to create a Coinbase account by. Send it to Metamask, go to Opensea, buy a thing, do all this stuff. So it takes a little bit of it’ll be a little intuitive to do it. Now you’re telling me I go on this platform, Coinbase, I flip over to the NFT tab, I find an NFT that I want and then I can buy it with my credit card.

00:11:29:06 – 00:12:05:27

Richard Carthon: I can buy it with my debit card or my bank account, whatever it is, and then it then sits on Coinbase as well. Like you talk about how much easier of access and use and exposure this is going to bring to people who want to get involved and want to be able to potentially do it themselves and now they can. This is giving that ability. This is making it an option and making it Bible, which is really cool. But to oppose it another way to go a little bit deeper into this deep. The reason why I think it might not just overtake it as quickly as possible is because you might not initially get everyone.

00:12:05:29 – 00:12:35:28

Richard Carthon: So right now, one of the things within NFT space is. Taxes and the gains that you potentially make or even the losses of like how do you even document all of this to be able to effectively do it? Now, going through Opensea, it’s a little bit harder to go from e nft back to e send it back and all that and then try to like rectify it or reconcile or whatever. However, on Coinbase, that will be very easy because you can follow the money the entire time.

00:12:36:24 – 00:13:07:24

Richard Carthon: I think that that is going to four year undocks and people who are trying to fly under the radar of being in the NFT space, that might keep some people weary from wanting to go in that direction, which would still be an appealing way for people via Opensea to go that route. So I but for the greater good of all, I won’t say the greater good, but like for the, the mass adoption and mass amount of people that are just trying to enter the space for the first time, I don’t see that as an issue at all.

00:13:07:26 – 00:13:24:29

Richard Carthon: I don’t think they’re going to know any better or care for that matter. But it does bring up an easier way now that if the IRS or whomever entity wants us to be like, Hey, we saw you buy this NFT for this price we see sold it for this. We’re going to call this capital gains on you. We need you to report this. It’s going to make that a lot easier.

00:13:28:00 – 00:13:55:27

Richard Carthon: Hey, crypto coming through. This is Steve Miller and I’m the host of CC Live show that keeps you up to date with what’s popping off in crypto land. Every episode of Si Live brings you the latest news, keeps you updated on the top projects, and decrypts everything you need to know to get ahead in the wild world of Web3. So if you really want to stay cryptocurrency, join Richard, Chris and I every Tuesday and Friday at 7 p.m. Eastern, only on YouTube live. So what are you waiting for? Subscribe to Cryptocurrency YouTube channel today and as always, stay cryptocurrency.

00:14:00:06 – 00:14:32:03

Richard Carthon: I would agree. I think that the one thing that really stands out to me is when we talk about these new users and the people that are coming into Web3 right now, very first time. I think they’re amongst a group of individuals that does not care about their privacy because the vast majority of the people, they really, really care about KYC. They don’t want it. They’re already here. They’ve been here. The dogs, they’ve been around forever. And they’re not going anywhere.

00:14:32:05 – 00:15:03:06

Richard Carthon: They’re staying in this world. But for those people coming in, they’re very used to it. They’ve been investing with fidelity in Merrill Lynch and Goldman Sachs for years. So they’re well aware of the fact that their stuff is on the government’s books to begin with. But what I think is a lot more significant right now is the fact that you look at openly, to put this in a context for you, Coinbase, NFT is a platform. Immediately opens the door. Two.

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00:15:03:08 – 00:15:21:18

Richard Carthon: I’m not kidding on this. I looked it up. It’s an accurate number as of this past year, 11.4 million monthly users. Okay? Yeah. What is the current number for open seas active monthly users.

00:15:23:21 – 00:15:29:03

Richard Carthon: Take a guess, one on a guess and put, like 200,000. 500,000.

00:15:30:22 – 00:16:02:00

Steven Miller: And that was the average for last year. So to me the insane amount of upside in the amount of capital that then becomes available to the NFT market, but also. Seems a lot more friendly to invest in than that of Defi. We’re into other currencies like pick. Pick your favorite token, right? There is personality. There is spirit to the NFT landscape and the metaverse that you don’t get out of just buying the ERC 20 token or buying Cardano or buying Solana.

00:16:02:26 – 00:16:34:17

Steven Miller: You can get a lot more out of that experience and they’re really making sure that they deliver on that through Coinbase NFT release NFT. If you go onto the platform and just play around with it, it’s really clear that they’re really not even focused at this point on providing an exchange or a transaction set where you can go and buy in fees. They’re way more concerned about providing a social experience. So they wanted to become the official social trading platform of the NFT world and of the metaverse. I think that’s really interesting. It is.

00:16:34:22 – 00:17:20:02

Steven Miller: And just just on that alone, right. We’re going from 500,000 monthly to 11. So let’s just call that a friendly word, 22 X. It’s pretty, pretty insane. And just goes to the sheer amount of why I think you and I are very bullish on where the NFT space is headed and the amount of money inflow that’s going to impact. And with a lot of these, NFT is being built on them right now. The price implications that could also mean for Ethereum coming up pretty soon, which of course, as the theorem does well all season typically happens and who doesn’t love a good all season? So it’s all these things that build on top of each other and points to like when I look at the fundamentals of the market right now.

00:17:20:12 – 00:17:51:26

Steven Miller: So for all the newbies out there who honestly understand like different types of like strategies you look at, fundamentals are like what’s happening in the world, what’s the news, what’s going on in the news cycles and what are people talking about? Things that you can look at, observe, and then try to deduct things that could happen based on what’s what that is. So the fundamentals are the strongest in crypto and in a piece that I’ve ever seen them in since, since existence of, of cryptocurrency. So I am super excited and bullish on that. But then you look at where the market has been.

00:17:51:28 – 00:18:29:08

Steven Miller: We have been on a downward trend for almost five months now and there’s been a lot of consolidation. And so if we’re potentially bottoming out right now, we could we could be headed towards a very, very exciting summer. And another reason, another great time for for all those who are listening. If you if you are already in crypto and you’re lending your stuff, great. And if you’ve always been interested and curious about Nfts, now could be a really good time to start to research out a little bit more and get involved and try to get into some of these projects early because they’re going to be some absolute gems a year from now.

00:18:29:10 – 00:18:59:23

Steven Miller: You wish you got into a prime example a year ago, you could have got into bought a yacht club. For a couple of years and now the floor is 100. But then you would have, oh, above 100. You would have got airdropped a mutant ape, which is I think the floor on that is what, 30, 30? So, you know, just another quick $100,000 and then you got airdrop eight coin, which I think at the time when it drops and if you held on to it, I would have been an additional 20 K. So. Yes.

00:18:59:25 – 00:19:06:09

Steven Miller: Those. What these. The residual income in the passive income that comes from holding a really good NFT project.

00:19:07:27 – 00:19:37:28

Steven Miller: They are kind of outperforming some of these regular crypto projects when you look at the build up application over the course of a year. If you get into the right projects. So the whole point of this is that entities are a really awesome, amazing investment opportunity, but you can get burnt just like in regular crypto. You have to know what you’re looking for. You have to know how to research and you have to know how to get involved early and. What’s great is that Steve and I plan on helping you do that.

00:19:38:21 – 00:20:10:01

Steven Miller: At the very last thing we want to do is see you jump into a world like Nfts or the metaverse and get kicked. Because the truth is, is that it takes a lot of failure in cyberspace in order to start to understand it. You know, even for even those that understand it, you still take a number of L’s. It’s really very simple to understand. But when I look at this world versus the standard ERC 20 world, I see it as a big differentiating factor being culture.

00:20:11:00 – 00:20:44:03

Steven Miller: It is modern culture that these specific properties are influencing and also coming from. Tokens, your twenties, like your super farms, your engine coins, all of that stuff. Even, you know, ecosystem tokens like Mana for Decentraland, all of those tokens, they’re financial instruments. They’re used to support the economies within those ecosystems. An NFT has the potential to be an IP.

00:20:44:19 – 00:20:49:24

Steven Miller: It has the potential to be an access token to get you into an event like VidCon. That’s coming up.

00:20:51:21 – 00:21:23:12

Steven Miller: There’s so much that can be done with NAFTA, is it? We’re just scratching the surface of it. But what you were saying about the expansion of it and how it can amount to so much more, we’re also just starting to see the actual significance of that. I can immediately spin up two other things that came off of board eight that you didn’t mention that was additional added value in Kennel Club and then also now access to board a bland in other side which is coming up this week.

00:21:24:05 – 00:21:55:05

Steven Miller: Yeah an exclusive parties they had an exclusive party in New York where if you owned one, you literally could go on a yacht party for free. Yep, they have. And they have their entire event week coming up in June again right before NFT NYC. So that and that’s just the board app ecosystem. Looking for projects that do that sort of thing. That’s good. Better to be following. You want to be looking for projects that are consistently giving back more value to their ecosystem.

00:21:55:16 – 00:22:26:09

Steven Miller: If you’re investing in a project and you don’t see that and you just see baseless claim or just a roadmap that they’re not delivering on, that’s not a project you want to be in. I see another big project again. Give the moon bird’s example. Right? Proof, which was a pass initially, has been adding value back to their user base by delivering on new products so that that initial launch was only made available to a thousand users. So to buy a proof pass. The Dutch auction went down to one fifth.

00:22:26:23 – 00:22:43:14

Steven Miller: So you had a bunch of people. Thousand plus sorry? No, thousand plus 1000 to 750 people because some of them could have bought more than one. Right. Buying these fruit passes. Before the moon birds launch. It got up to 90 to pass.

00:22:45:04 – 00:23:17:15

Steven Miller: But it only gets there by. Seeing the team deliver more value back to the ecosystem. So they rolled out a program called Grails. And Grails basically was a platform where those proof pass holders could get access to exclusive art drops. They were essentially brought in by partner artists, but the people behind Proof partnered with. So, for example, some of the biggest names in generative art were featured on Grails. You have Tyler Hobbs, who is the artist behind FID Enza.

00:23:18:12 – 00:23:48:12

Steven Miller: You have Dimitri always blow this guy’s last name. The artist behind ringers came massive names coming in to do exclusive hour drops. So all those people are starting to gain more value back by owning a proof pass. So that in and of itself is utility. If you can find projects that are adding utility or adding value or continuing to give back and reinvest in the community, those are the projects that are in last.

00:23:48:24 – 00:24:21:27

Steven Miller: Those are the products that are going to be actually expanding in value upwards and have a higher upside long term. That’s what I will look out for, along with some other little bits and pieces that we’ll get into more in that new show as of course. So I know we’ve been teasing this up and I know we’ve covered a lot of different things. But then as it relates to NAFTA, we’re going to keep this one shorter and sweet. The point being is that in a time, space is absolutely a space, that if you are in the crypto blockchain ecosystem, it’s something worth paying attention to and it’s something worth educating yourself in right now.

00:24:21:29 – 00:24:54:21

Steven Miller: It’s super early. There is a lot of opportunity for growth and other things that you can get involved in, and people are going to want to learn more about this and they’re going to look for thought leaders in this. And if you can learn how to be able to speak to these things, find these products, get in early, etc., it’s just going to allow you to have more opportunities in this particular landscape because, man, there’s there’s not a lot of what you would quote unquote call an NFT guru or expert or whatever it is. And in being able to have an eye for this and be able to understand community and everything else.

00:24:55:21 – 00:25:29:15

Steven Miller: There are. There’s just so much upside to it. And all it takes is time, effort and energy. It takes time, effort, energy. Have some money to be able to get into some of these projects. But you use some of that initial investment. Get a couple of good wins and then you can keep leveling up on top of it. But just to get started. Most of it is time, effort, energy. So it’s been a little bit of that. If you’re if you’re looking to spend some of that energy, time and effort to learn a little bit more people and check in on our content and be on the lookout for the new concept we’re going to be dropping soon in specific as well.

00:25:29:25 – 00:26:01:08

Steven Miller: Steve, thank you for joining. Any final words that you have for these amazing people this single day? The only other final word that I’ve got for you is if you want more live content from us in terms of NFT and metaverse related content where we have conversations about what’s going on in this space. I’ve. We do a Twitter space every single Thursday through the crypto current Twitter account, and we would love it if you would come out and join us for. It’s called Nonfungible Thursdays. It’s always at 7 p.m. Eastern time. And I hosted that with our good friend Rico or Ricochet.

00:26:01:10 – 00:26:31:23

Steven Miller: He’s a rapper in the space that loves talk about the news and what’s going on. And he’s all about the alpha himself. So come on over there, join us for those conversations. But otherwise, look forward to these alpha shows coming up as well as a whole bunch more great interviews and content from us here at Cryptocurrency. Excellent. Well, you heard it from Steve. Make sure you go check us out there. A lot of other amazing things on the way. Be on the lookout for them. And of course, for every listening state, cryptocurrency, take cryptocurrency through.

00:26:31:29 – 00:27:10:01

Steven Miller: We want to give a quick shout out to all of our faithful listeners out there. It’s been an amazing journey and we really appreciate your support throughout the years as we’ve been growing as a community. Each episode, we decided that we would start sharing some of the reviews that you were leaving for us for today. We would like to share this review. For today’s review, we’re highlighting two separate listeners. First up, we have Robbie, who said great information and I’m already learning a lot. Second, we got skills who said this podcast honestly helped to make crypto so much easier. We sincerely appreciate this review and all reviews and would like to ask that if you’re enjoying our show, please take a quick moment to go and leave a review on our podcast so that hopefully we can be highlighting your review next.

00:27:10:18 – 00:27:40:25

Steven Miller: Simply go to our show notes or go to our website where we have a link where you can share your review today. Hey, everyone. Hope you enjoyed today’s episode. For more information on today’s episode and all of our episodes, please visit us at W WW Not crypto currency, not SEO. You can also find a link in the show notes. Want to stay up to date in the latest news in cryptocurrency, sign up for our newsletter today. You’ll receive daily emails Monday through Friday that are personalized and curated content specific to you and your interest.

00:27:41:02 – 00:28:14:08

Steven Miller: Powered by artificial intelligence, you can either go to our show notes or go to our website to sign up today. Are you an accredited investor looking to invest in cryptocurrency? Quezon City Capital can help. Go to Quezon City Capital dot com for more information. I don’t know if you’ve noticed, but the quality of our podcast each week are improving. I can only thank my amazing producer, Andrew Ritter with the Ritter Productions, who has been putting all of this together. If you have any podcast, music or audio needs, please go to Ritter Productions dot com. That’s d r I TTR Productions dot com.

00:28:20:00 – 00:28:32:28

Steven Miller: Thanks for tuning into another episode of Crypto Crime with Richard Condon. We’ll be back with more exciting developments from the world of blockchain and cryptocurrency next. But until then, stay cryptocurrency.

00:28:42:12 – 00:28:44:26

Three U.S. states now.

00:28:49:17 – 00:29:24:07

Steven Miller: Thank you for joining us for another episode of Cryptocurrency. Just one quick reminder. Cryptocurrency is a cryptocurrency and blockchain education platform that’s bridging the gap between the curious newcomers who are just discovering the space and the thought leaders who are shaping its future. All opinions expressed by Richard Carr, Ethan, the cryptocurrency team and their guests on this show are exclusively their own opinions. You should not treat any opinion expressed by Richard. The team and their guests as a specific inducement to make a particular investment or to follow his financial advice. This show and any other crypto current production is exclusively for informational purposes.