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

00:01:21:24 – 00:02:01:16

Steven Miller: All right, what’s going on cryptocurrency, crude for Crypto Current, I’m Steven Miller and you watching another episode of our Monday and Friday interview series today? Not so much like an interview. We’re doing things a little bit differently today because there was a massive story that broke mid-week last week, and we think that this special report is going to be your gateway to connecting with exactly what’s going on around the boarded up yacht club right now. And yes, of course, we were talking about Abe Coin, the topic that’s on everyone’s lips right now within the world of crypto, and we want to make sure that you are dear listeners and our friends at home are really well informed and connected to what is going on in the Metaverse right now, and there’s nothing bigger than Abe Coin.

00:02:01:25 – 00:02:28:12

Steven Miller: So we’re going to get into a couple of really big topics surrounding Abe Coin today surrounding UGA Labs, the Board of Yacht Club at large. But before we do. Do me a big favor. Make sure that you are always subscribe to us here on YouTube. And also over on your preferred podcast platform. We are bringing you content now Mondays, Wednesdays and Fridays, and this is just the start of a brand new week. So we’re going to jump in to this old coverage on Abe Coin.

00:02:30:02 – 00:03:12:03

Steven Miller: So before you actually just decide, hey, it’s time to buy some coins, it’s time to get into the token. We want to make sure that you are educated on where this all came from. Right? So if Coin had its point of origin on the 16th of last week and it basically was this announcement put out by what they have now formed as the Eighth Coin Foundation announcing that, hey, it’s coming March 17th, it came. Every single major centralized exchange, including Binance, Coinbase, Gemini, Will Koo Coin, OKEx, Kraken, every single one of them listed it on day one.

00:03:12:13 – 00:03:45:14

Steven Miller: Talk about something that is absolutely unprecedented. I don’t know of any or many other coins that have had that privilege on their launch day, so very big statement right there alone. But it also then went to list on all major DEXs. So you may be asking yourself, OK, fine, what is the entire point of this? Because if you’re going to invest in something long term instead of trade on it in the short term, it’s best to understand what this token is really aiming to do well, right up front.

00:03:45:29 – 00:04:23:13

Steven Miller: The token is essentially a point in time fixed, where you saw UGA labs make this big decision to split the parentage of the Arabian club and a coin into three separate formal organizations with a fourth on the back end. So of course, you have UGA Labs. Still, that is the business that built for a yacht club, but they’re now going to be what they consider an ecosystem contributor. So they’re going to be, you know, making new properties, adding new features, building out elements of what they plan to do with boards of Yacht Club into the future.

00:04:24:10 – 00:04:58:13

Steven Miller: You then have Ape Dao Ape Dao is essentially where they’re going to be bringing together the community governance of Ape Coin and everything surrounding 40 Yacht Club. So when I say community governments or governance, excuse me, we’re really talking about voting. So essentially by holding Ape Coin, you’re going to be a part of a decentralized autonomous organization that governs everything that happens in the ape universe and metaverse. Next year, the Ape Foundation, which essentially is meant to be the admins of that down.

00:05:00:05 – 00:05:12:21

Steven Miller: And of course, you have the board of Yacht Club, you know, the only access point to the majority of what’s going on here in the content pool that is boarding Yacht Club and all of its surrounding properties.

00:05:14:09 – 00:05:47:13

Steven Miller: But to understand really the big potential of this has to I mean, you have to at least look at the people that are in charge of it right now, the people who have been charged as what they call their special counsel or their board. And let me tell you, this board truly is bananas on very much intended. You have five individuals on their special counsel. You have Alexis Ohanian, who is the founder of Reddit. Some of you may be familiar with Reddit. And that’s because it’s one of the biggest individual blogging sites and community boards out on the internet.

00:05:48:06 – 00:06:22:12

Steven Miller: Amy Wu, who is the head of ventures and business development for 40X, which is a massive exchange. Dean Steinbeck, who is, I believe, the head of Horizon Labs and in charge of the majority of their investment arm. You’ve Maria Bajwa from Sound Ventures, I believe she is the head of sound ventures right now, and if Sound Ventures sounds familiar, it’s because I’m 95 percent positive that that is the venture capital firm that Ashton Kutcher put together. So to say that the Board of Yacht Club has celebrity backing may be the understatement of the century, but they have a really big celebrity backer in Ashton Kutcher.

00:06:23:14 – 00:06:57:04

Steven Miller: Lastly, you have Yatsu, who is the head of Animoca Brands massive, massive gaming and IP property company or metaverse related projects, also for bigger gaming properties. So if you’ve heard of the sandbox, Animoca is the parent to the sandbox, so That’s–you has plenty of involvement in the metaverse and plenty of involvement in gaming. Here we bring a lot of that knowledge to bitcoin and the entire group. It will eventually be building out or a VR club and the entire board Abe universe.

00:07:01:14 – 00:07:34:14

Steven Miller: So is this really just a situation where we’re talking about, OK, the rich are just getting richer? No, we’re not. That’s not to say that they aren’t. But that’s not exactly what we’re saying here. So, of course, a big portion of the people that are out there claiming Ape Coin right now were members of the Board of Yacht Club. They either hold a board ape, they hold a mutiny or they hold a board a any board of Kennel Club NFT, or they hold a mutiny and a board of Kennel Club NFT.

00:07:35:02 – 00:07:41:10

Steven Miller: They then got paid out based on their Holdings 10-K, Ape Coin per board ape.

00:07:42:28 – 00:08:00:04

Steven Miller: Two Cape Coin for mutiny or if they had a boarding Kennel Club NFT. In addition to their board, eight, it get paid out 11000 ape coin. Or if they had a boarding Kennel Club piece with a mutiny, they’d get paid out three thousand eight point.

00:08:01:23 – 00:08:32:09

Steven Miller: So I guess you’re you may be wondering right now, OK, great, you’ve all these people cleaning tokens. Am I just screwed? The answer is still no. This is just a portion of the eight coins can be out in the market, so it’s important to understand exactly, you know, what’s going to happen with all these tokens now they have a distribution schedule. All of these individuals who own bought 1850’s earn yield to claim their tokens, the ones that they’re permitted to claim during a 90 day claim window.

00:08:32:22 – 00:09:08:05

Steven Miller: Every single token after that that is left unclaimed is going to revert back into their Treasury, basically giving the foundation a lot more flexibility in terms of what they can do. So essentially, you have this unique breakdown. So only 62 percent of all of the Abe coin out in circulation, which is a circulation of a billion tokens and that’s fixed. They’re never going to add more. They’re going to take away from it. Sixty two percent of that token pool is going to go to the holders of Broadway properties and the Treasury behind EB Coin.

00:09:09:20 – 00:09:38:06

Steven Miller: Then from there, you have smaller percentages that essentially are breaking out portions of that billion tokens, you have a part that’s going to the Jane Goodall Foundation and Google Labs. The Jane Goodall Foundation, of course, is the charity that you will have supports. You have all those large contributors that we talked about every single one of those centralized exchanges, all of them get a big cut. And then lastly, you have eight percent of that billion tokens that is being dedicated and given back to the board, a yacht club founders.

00:09:39:23 – 00:10:09:24

Steven Miller: That’s not together all too uncommon. I saw a lot of people getting really pissed off about that online. But the reality is is that this bigger pool presents a lot of opportunity. All those, all those tokens that you had going purchase on centralized exchanges. They’re made available from the 62 percent of tokens that are out there. But OK, great, you buy these tokens or you’re claiming these tokens if you’re a board holder. What can you do with them? That’s the big question here.

00:10:10:27 – 00:10:45:23

Steven Miller: And that is always going to revolve around utility. Now, in this case, they’ve identified four specific utilities for Ape Coin is going to use for governance. So essentially, you’re going to be able to use a coin to vote on what they’re calling ape improvement proposals in the ape coin DAO. You’re going to have the ability to use it for monetary exchange of goods and services within the metaverse at large and be able to use it for access, essentially to be able to purchase exclusive merch and end for use that in real life activations.

00:10:46:17 – 00:11:21:02

Steven Miller: So if they have bigger events or they have another ape fest like they had last year, it NFT NYC, you’re to be able to use your ape coin there in real life. And lastly, to incentivize third party development. This is where I think we need to take one quick step aside, because you have to ask yourself, OK, great. If there are third parties that can come in and they’re going to start developing around a point, how does that tie in at all? Well, right now, across Web three and in the whole NFT space, everything’s really siloed, right? You have the board eight properties.

00:11:21:08 – 00:11:48:27

Steven Miller: You’ve cool cats, you have our good friends over at the Illuminati with Illuminati NFT. All of them are not working together, right? Well, the entire goal of the metaverse is to bring them together, allow you to essentially work as one big unit is really isn’t that the entire point of this whole metaverse thing? It’s like one big virtual world that we’re all tied to.

00:11:51:00 – 00:12:11:29

Steven Miller: That’s essentially where they’re headed. They want to give you the ability. To use a coin as the primary token of use in the Metaverse. That’s their goal. And that’s why they’re essentially right now building out not your traditional metaverse concept, but they want to build out an interoperable gaming metaverse.

00:12:13:20 – 00:12:44:00

Steven Miller: So when we look at this brand new idea, they’re bringing forward, which they’re calling meta RPG RPG. They’re partnering with Animoca Brands to produce this bigger game. And it’s going to essentially bring a whole bunch of properties together, but it’s going to bring your properties to their metaverse. That’s the big missing ingredient here. You can participate in the sandbox and you can have your own avatar in there, but it’s not any of the NFT that you are.

00:12:44:16 – 00:13:15:19

Steven Miller: You can participate in Decentraland, but you’re going to have to create a character or an avatar in their world and then use NFTs to, you know, deck them out to give them clothes. In this world, you’re going to be able to take all the notice that you’ve got. And by using their Endgame App Store, you’re going to be able to take those entities that you own and model your own characters based on your properties so that on its own is totally novel.

00:13:16:20 – 00:13:35:09

Steven Miller: So will this succeed? The answer is simply that they have a story and a brand beat all of modern culture and the current cultural zeitgeist is obsessed with. So to think that they’re not going to, you know, get this to work based on just the fact that it’s a big idea.

00:13:37:09 – 00:13:42:01

Steven Miller: It’s out of sight, out of mind, because they have all of, you know, popular culture’s attention right now.

00:13:44:17 – 00:13:49:24

Steven Miller: So they’re really building something that’s bigger than bored apes, right?

00:13:51:09 – 00:13:57:27

Steven Miller: It’s a build, something that unifies everybody. They need to create something that’s truly decentralized and interoperable, right?

00:14:00:18 – 00:14:19:13

Steven Miller: So as we’re looking at this bigger ecosystem they’re trying to build, it has to start somewhere. It can’t just jump straight into characters. So through this new meta RPG. You are going to be able to first get in during a virtual land sale.

00:14:21:11 – 00:14:57:14

Steven Miller: And again, this is a massive part of the use of eight, it’s currently believed that you’re to buy land in the metta RPG. You’re going to need to use a coin to actually create a character in the meta RPG world. You’re going to have to use a coin. Say it with me, folks. Each plot that you would purchase will continue will contain distinct traits, you know, you’ve got artefacts, you’ve natural resources, and in some rare cases, you’ll actually be able to harvest unique characters.

00:14:58:18 – 00:15:32:05

Steven Miller: The one that they’re right now hyping in that’s just leaked out is these characters called codas. The quotas are a really interesting design. They’re kind of like fairies in a way. But they’re made to look really damn cute. So to say that like your kids, if you have kids, they’re going to want one. They’re going to want 12 is the answer. So you’re going to want to get your hands on these cute codas. And the only way to do that is by participating in these land sales.

00:15:32:12 – 00:15:52:00

Steven Miller: So they’re going to be doing two of them. You’re going to have a land sale in late March and you’re in a land sale in August. Big picture. They see ape coin, not just as like a fad. This is going to be here for quite a while and we need to all wrap our heads around that, especially if we’re going to be considering aping in.

00:15:53:25 – 00:15:57:29

Steven Miller: But here’s where I start to get a little bit. Let’s just say too excited.

00:16:00:21 – 00:16:21:18

Steven Miller: We’re less than a week into Bitcoin’s existence. And you already have plenty of use cases. And they’re coming out organically. They’re not just like UGA Labs has been, you know, developing in the background. Of course, some of them have been, you know, background or backroom discussions.

00:16:23:10 – 00:16:53:27

Steven Miller: But others are really coming out of the woodwork just because people want to integrate this, they see the potential of it. So Animoca Brands obviously was going to be one of the very first ones that came out. So they announced their Benji Bananas mobile game is going to use Ape for all of their in-game purchase options. So to go and purchase additional downloadable content. You’re going to be able to use Ape Coin. And there’s another really big it’s going to sound ridiculous.

00:16:54:07 – 00:17:18:27

Steven Miller: There’s another really big NFT project out there called the Littles. Yeah, big NFT project called the Littles. The Littles, in my opinion, is one of those adorable NFT is out there, these little cute bears, and they all have unique designs, its 10-K collection, and they’re great. Their entire premise is to not take things so seriously, and they wanted to have their own little league gaming universe of their own. And they’re deploying that through like an arcade.

00:17:20:18 – 00:17:31:27

Steven Miller: Well, they said basically a day and a half into a poem that you’re going to be able to use a poem in their upcoming arcade. So now you’re getting cross property utilization of a coin.

00:17:33:16 – 00:17:55:15

Steven Miller: Then you have no way. And weighs another massive gaming company. Particularly in the mobile world, but they also have a handful of other bigger games. They decided they’re going to reveal slash leak, a teaser trailer for their upcoming play to earn game. It will be adopting a deep coin.

00:17:57:02 – 00:18:04:23

Steven Miller: Great. So we have all of these new utilizations of this brand new token in the metaverse, in crypto gaming, in play to earn.

00:18:06:13 – 00:18:35:27

Steven Miller: But it doesn’t stop there. And that’s the thing that to me really conveys this insane opportunity behind a coin and why I think that personally, I believe it’s going to take off and it’s going to be around for a very long time to come. It’s not just Dogecoin. It’s not some meme coin. Ape Coin is bringing the entire community in crypto together, and I have a feeling it’s going to bring a lot more people into crypto than you might imagine.

00:18:37:20 – 00:19:01:13

Steven Miller: Two examples. Less than three days after Abe Coin’s launch. You had 11 residences. That’s not like 11 of these residences. That is a brand 11 residences in Miami. They announced that they’re going to start accepting Abe Coin as a form of payment. So you’re going to be able to pay your rent. In a coin.

00:19:03:09 – 00:19:37:27

Steven Miller: Seamless transaction. You’re covered. Then you have Salt Water Brewery, Salt Water Brewery, of course, is a brewing company. They make beer. Surprise. They’re going to offer a discount for all purchases made in Abe coin. So all of these vendors are now going to start creating payment portals where you can purchase their goods, services and even in some cases, pay your rent in eight point. It’s pretty wild stuff I didn’t think that we’d be getting here this fast, but did.

00:19:39:06 – 00:20:10:09

Steven Miller: So what really is the case for? Whether or not you should be eating in. Well, there’s two sides, right? You’ve the case against which one the way I see it, you have a lot going on in the market right now. You have bitcoin still being the the cryptocurrency that leads the market and a lot of the market follows bitcoin’s momentum. We’re still trading sideways. We’ve been trapped around 40 K and down to, I believe, 30 for better part of the last month.

00:20:11:19 – 00:20:21:13

Steven Miller: So if we’re trading sideways, there’s not a lot of momentum for bitcoin. Not Bitcoin Ape Coin to surge up. And said that a lot of reason for the surge down, either.

00:20:23:03 – 00:21:00:12

Steven Miller: The other piece is that unfortunately, in the early days of Abe Coin, you had some tax exploits and that was done mostly by these specific bots that were made to manipulate the system. And then you also had other people that were manipulating what are called flash loans. Both of these topics are very heady. I don’t want to get too deep into them, but if you have interest in learning more about them, let us know in the comments or of course, tweeted us on Twitter and let us know. Flash loans are really fascinating concept, and how people exploit decentralized exchanges is important to understand.

00:21:01:24 – 00:21:16:13

Steven Miller: But moreover, it’s not necessarily going to stop. Unfortunately, right now, this is something that is still rampant in crypto, people are finding unique and new ways to exploit systems to take advantage.

00:21:18:05 – 00:21:50:24

Steven Miller: It’s the nature of the Beast will say. But then you also have and let’s just call it a developing narrative. And that is from the world of gaming, as you know, gaming is a massive, massive economic driver at this point. It’s a huge industry and the big players in the in that industry, including Twitch streamers, bigger, you know, influencers and even some gaming companies are coming out and spreading FUD around NFTs and what it means for the Metaverse.

00:21:53:18 – 00:22:13:21

Steven Miller: I have a lot of opinions on that. I’m going to save them for a later date. But the point is, is that this specific group. Is going to be bringing a ton of fear, uncertainty and doubt into the space to try to shake you out, to get you to take their side.

00:22:15:13 – 00:22:26:07

Steven Miller: That could theoretically bring Abe Coin’s price down if people start panicking. So that’s the case against buying Abe right now. What’s the case for buying Abe right now?

00:22:27:27 – 00:22:28:24

Steven Miller: The big one is.

00:22:31:03 – 00:22:36:12

Steven Miller: I’ve never seen the type of utility that eight points bring in a market, especially not this quickly.

00:22:37:29 – 00:22:44:14

Steven Miller: The fact that you can purchase in real life goods within a week of its drop. It’s huge.

00:22:46:11 – 00:22:57:15

Steven Miller: You’ve got the ability to use this token in their metaverse or in-game purchases or of just a wide variety of things beyond the base of just governance.

00:23:00:02 – 00:23:04:18

Steven Miller: The more you use it, Hogan. The more you need a token.

00:23:06:16 – 00:23:12:21

Steven Miller: You get what I’m saying here. Beach. It’s going to be a really hot commodity.

00:23:14:12 – 00:23:40:14

Steven Miller: So you’re going to have use cases developing even faster than just the five days it’s been out, right? We have so much proof. It broader organizations, brands, individuals are going to want to come up with new ways to accept ape coin businesses, they just have a function that is only paid for using Ape Coin.

00:23:42:03 – 00:24:02:01

Steven Miller: Or even just virtual property that you can only buy an ape coin. They’re going to come and they’re going, come in hot. They’re going to come in. Probably in folds of 20 across the next, like three weeks. But I wouldn’t be surprised if you saw something to the tune of 100 to 200 utilizations of Ape Coin.

00:24:03:21 – 00:24:06:22

Steven Miller: By the end of this quarter, I think it’s probably a low estimate.

00:24:08:08 – 00:24:17:17

Steven Miller: And then lastly, of course, in my mind, the biggest reason to buy eight points right now. Is for this meta RPG land sale that’s coming up.

00:24:19:07 – 00:24:33:02

Steven Miller: Land sales have been a really, really hot area within the investment marketplace with NFTs and metaverse. And the idea of virtual real estate has really caught on.

00:24:35:18 – 00:24:43:22

Steven Miller: And to think that you really just need a coin to be able to buy in. It’s not, you know, completely locked in at this point.

00:24:45:22 – 00:24:52:05

Steven Miller: But you’re going to need it because an RPG is a whole economy. We’re talking about.

00:24:54:14 – 00:25:12:03

Steven Miller: Every single interaction that you have in this matter, RPG is going to demand ape coin. They’re going to encourage trading and bartering and essentially introduce this as a soft currency to allow for more accessible spending, not just in the game but in real life.

00:25:15:07 – 00:25:21:23

Steven Miller: So as we look to the future of OK, is it a wise time to leap into ape coin?

00:25:24:04 – 00:25:35:19

Steven Miller: A by the book Cancer that I can give you. Nothing that we say on the show is financial advice, everything that you hear is a financial opinion, and I do not want to be held legally obligated or liable for any of your financial decisions.

00:25:37:09 – 00:25:55:02

Steven Miller: But I think the truth is, is that this is a decision you need to make with good diligence, and that’s what we’re here trying to provide good diligence, good background, good information because without that, you’re always going to make uninformed decisions.

00:25:56:18 – 00:26:05:08

Steven Miller: So as I look at this right now after I’ve done my diligence on this and as I have even managed to get my hands on.

00:26:07:21 – 00:26:13:18

Steven Miller: Some leaked material. And by that, I mean the yoga labs pitch deck for all of this.

00:26:15:03 – 00:26:28:01

Steven Miller: I think this is a really great token. I think that this is probably going to be one of the most notably used tokens on the Ethereum blockchain.

00:26:30:26 – 00:26:38:24

Steven Miller: And I have a feeling that we’re going to see it absolutely skyrocket once we get past the first land sale.

00:26:40:18 – 00:26:45:07

Steven Miller: I’m not saying that this metaverse is not going to have hiccups, it will. Oh, believe me, it will.

00:26:47:06 – 00:26:51:12

Steven Miller: But if there’s a time for the market pulls back just a little bit.

00:26:53:07 – 00:26:58:08

Steven Miller: I would be looking to. Acquire a very healthy bag of eight point.

00:26:59:23 – 00:27:03:22

Steven Miller: Because they use cases, they just will keep coming.

00:27:05:09 – 00:27:26:17

Steven Miller: Right now with where we are, we’ve got this big drop coming up, right? You have the airdrop coming for codas. You have eight fast coming up in June, right around NFT NYC. You have all these new things that are coming. I’m not trying to leak too much here, because again.

00:27:28:04 – 00:27:41:27

Steven Miller: It’s private information, but like you even have new properties coming from board, eight from the folks behind board eight, excuse me, Yugoslavs. They’re only going to be able to buy that with Abe Coin. I can promise that.

00:27:43:13 – 00:28:14:00

Steven Miller: So, look, continue to do your diligence, invest wisely and stay up to date on what is cooking in the world of crypto. There is no easy way to say this. It’s a risky landscape right now. With everything going on in the world, you’ve got, you know, war unfortunately, still going on over in Eastern Europe. You have a lot of financial uncertainty here in the United States. You have to act wisely.

00:28:14:11 – 00:28:52:15

Steven Miller: You have to make the right decisions. Don’t ask, don’t act hastily because one of your favorite commentators here cryptocurrency is telling you that this might be a really good opportunity only act if it’s right for you in your current financial condition. So look, that’s going to do it for us here at cryptocurrency this week. We hope that you enjoyed this quick special report on everything ape coin, everything UGA labs, everything board, ape yacht club. We, of course, will be back on Wednesday with another edition of the aftershock, bringing you more the content that is shaping this world of crypto currency.

00:28:53:07 – 00:29:11:14

Steven Miller: And, of course, covering the biggest news stories of the last week. And trust me, folks. In addition to this eight-point news, there was a lot that came out of the last week, but I certainly hope you’ll join us for that. Make sure that you’re subscribed to make sure that you’re following the show wherever you get your favorite podcasts. And we’ll see you next time. Stay, cryptocurrency.