Asking for a Friend: NFTs? WTF?

19 May 2023 · 40 min

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Podcast Notes: Asking for a Friend: NFTs? WTF?

Episode Overview Podcast Title: Raoul Pal: The Journey Man Episode Title: Asking for a Friend: NFTs? WTF? Hosts: Jeremy Varlow and Elaine Ly Sponsor: Origin Ether - Earn elevated yield on your Ethereum directly in your crypto wallet.

Purpose of the Episode This episode aims to demystify Non-Fungible Tokens (NFTs) for newcomers to the crypto space, addressing common questions and misconceptions about NFTs, their value, and how to engage in the NFT market.

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Key Discussions

Introduction to NFTs

  • What are NFTs?

Unique digital assets representing ownership or proof of authenticity for items or content.

  • Common Questions Addressed:
  • Is the NFT market dead? (No)
  • How do you start with NFTs?
  • What should potential buyers know before investing?

Personal Experiences with NFTs

  • Jeremy shares humorous anecdotes about how friends view his NFT investments as frivolous.
  • Elaine discusses her conversations with friends about NFTs, highlighting the shift from skepticism to curiosity.

Buying Your First NFT

  1. Understanding Personal Interest
  2. Buy what you like to ensure long-term satisfaction.
  3. Research
  4. Investigate the creator’s reputation, community engagement, and project history.
  5. Assess the NFT’s visual appeal and potential utility.

Tools and Resources for NFT Buyers

  • NFT Marketplaces:
  • OpenSea: The primary marketplace for buying and selling NFTs.
  • Blur: Another marketplace, though users may find the interface less intuitive.
  • Rarity and Value Assessment:
  • Rarity Sniper: A tool for evaluating the rarity of NFT traits within a collection.
  • Inspect NFT: Analyzes engagement metrics on Twitter for NFTs.
  • Dgens Finance: Provides market updates and insights on NFT trends.

Community Engagement

  • Importance of Community:

Building connections within NFT communities can enhance the ownership experience.

  • Good Actors vs. Bad Actors:

Recognizing credible voices and avoiding scams is crucial.

Red Flags in the NFT Space

  • Signs of a Scam:

Look out for projects with stolen images or questionable backgrounds.

  • FOMO (Fear of Missing Out):

Be cautious of hype-driven purchases and consider the long-term value of NFTs.

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Key Takeaways

  • NFTs Are Here to Stay: Contrary to some beliefs, the NFT market is evolving and remains relevant.
  • Buy What You Love: Focus on personal interest rather than speculative trading.
  • Do Your Research: Use available tools and community insights to guide your purchases.
  • Beware of Hype: Avoid making impulsive decisions based on market trends.

Conclusion The episode concludes with a reminder to engage responsibly with NFTs, prioritize enjoyment in ownership, and be patient in the market. Listeners are encouraged to continue learning and exploring the NFT space.

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Future Episodes

  • Upcoming guests include Rob Frasca and Stacey Warden from Algorand, promising further insights into the crypto and NFT landscape.

Call to Action

  • Sign up for Real Vision Crypto for free access to valuable content and community discussions.

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Sponsor Reminder: For elevated yield on Ethereum, visit [Origin Ether](https://realvision.com/oeth).

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Transcript

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1:53GM, GM, it's Elaine Lee, your friendly crypto host and producer at Real Vision. Happy Friday to all of you who are watching and with our community. Sorry about that. We're running a couple of minutes late because I hit the button and it basically closed down all my screens. Good morning, Jeremy. How are you? How are you, my friend? It's nice to be back on air with you. It's been a while. Yeah, who let us do this together? It's Friday. They've let the real adults just go and clean themselves up while we hold the thought for now, let's just say. I was definitely considering pouring myself a drink, but it is 11 a.m.

2:28where I'm at, so I thought maybe a little bit wiser not to, given this could go sideways without a cocktail. That's raucous, but on that note, we can get into a little bit of DJ and Happy Hour, where some of you on this platform watching us is not over there just yet. I'm going to pull you guys over soon enough. All right. So, Jeremy, thanks for joining me. The producers for this morning, Arta, caught this video NFT's WTF. That's the headline that we went with. We laugh. We laugh, right, Jeremy? But we're in this hole so many hours throughout the day. And I just think even in the world of crypto, whether you're talking about the institutional side the d5 the protocols the later two or threes or whatever we have of the cake out there it's still so very small and i feel like some of the shit is still different language to people and so every now and again we just have to take a step back come out of our little hole and provide our community that opportunity to get that light bulb moment if they're ready for this sort of stage um to get that click what do you think have you spoken to anybody recently that's like oh what's this nft stuff that you always talk about yeah i mean i i talk to my friends all the time like i'm in a few group chats and they're not you know crypto native folks and so they always make fun of me and you know pretty well weekly like hey jeremy how are your nfts doing you know and these are guys that you know are very cautious in their investments and they look at me as just kind of this like wild guy that's spending money on jpegs and stuff and you know i i tried i've tried to communicate with them in the past and it's one of those things that i just kind of backed off and whenever they ask the question i'm like oh yeah they're good and i'll just send them a picture of what i've purchased that week but i try to just not engage because they're just only there to make fun of me at the end of the day so that's the problem right you give up you don't engage the conversations are sort of closed down you're cornering people up and well we're not about that because we're about democratizing finance at Real Vision.

4:32Okay. So this is sort of a show. Think of it as it like this is a no question is a stupid question show. Copy the link and share it for the next person who asks you, is an NFT a scam? So for example, you know, recently I was in holiday. I went to Isla Mujeres, which is a little island of Cancun in Mexico. Excuse my Spanish. That's the best you're going to get out of me. And, you know, I went with a girlfriend and she's a software engineer. so full-blown in tech for the Wall Street Journal and uh she's like how are those NFTs of yours you know um and I'm like well you know we don't have to talk about it I'm not gonna shove it in your throat and then she keeps asking me about it though but as she keeps asking me about it I kept talking about our community first which you know we're attached to finance we're attached to learning about traditional stocks how the whole digital asset space comes together and then the whole trip that i was with her at the end of the trip guess what she asked me how do i buy an nft are you going to give me an nft

5:37wow these people that's brash no i'm sure a lot of us have had friends like this right so why don't we go into the very basics how do you buy an nft uh jeremy do you remember your first one I do remember my first time. I'm actually wearing a shirt of the NFT project. This is actually by our own Real Vision bot, Moritz. This is the AFA Mitwafa, which is Dutch for ape with gun. And this was, you know, an early NFT project that Moritz created, you know, alongside the Real Vision bot. And it was a way for, you know, the Real Vision community to kind of get closer together, to meet each other, to share ideas.

6:21And it's a super cool project. Like I said, it's my first ever NFT. It is off in the vault. I'll never sell it. Yeah, I absolutely love it. Super cool community. The artwork is incredible as well. So it's half AI, half human component. So if you go on Afimitwafa on OpenSea, you'll see a whole bunch of different colors and it's very moody. And that's because Moritz would take the transcripts from that day's Real Vision interviews and plug it into the AI. And the AI would create like a color scheme and kind of a thematic based on the mood of the interviews on Real Vision for that day. So if it was super high energy and happy and, you know, positive vibes, you'd get more bright, you know, happy colors.

7:11But if it was like more negative sentiment, it would be a little bit moodier and angrier. So very cool project. One that's very close to my heart, given it's my first NFT. And like I said, I will never sell it. No, I love listening to that, Jeremy. You know, funnily enough, I was making coffee this morning and I was thinking, what about if every token out there went off Twitter algorithm using AI tools out there that can paint an art to reflect on the color? And I'm assuming some cryptocurrencies may be, you know, touching the palette of red. But I prefer the color green on my charts. For sure.

7:49Absolutely. Don't we all? Yeah. Okay. So, look, let's have a talk about for people who are so new into this conversation, Caitlin, won't mention any names. What are the things that you should look out for when you start buying an NFT? So, I mean, that's the million dollar question, you know, and I've been around buying NFTs for a few years now and I've definitely learned some lessons the hard way. you know I think just to like backtrack a little bit and I read a tweet earlier this week and I think Archer our producer has it from Punk6529 and 6529 if you're not familiar with them they are I would say one of the you know top thought leaders in the NFT space have released a series called Seize the Memes and 6529 said earlier this week buy NFTs that you like and you will be happy you know instead of being you know a speculator trying to trade and flip nfts you know like 6529 said most of us you know let's compare it to stocks if we bought stocks and just held them and didn't try to trade them we'd be better off in the long run and the same goes for nfts buy something that you like and hold on to that you know and by all means if you want to play around and try and make a little bit of money on the side sure but you know the the best way to approach this is to buy art to buy collectibles to buy community tokens that you like and that you're invested in you know personally before you know financially and i think that that's the best way to start out and then as you get more comfortable in the space you know you can start using some of these tools that you know might help you trade better um and and learn more kind of analytically about what's going on in the nft space but i think as a way of starting out it's just super crucially important to buy what you like that is visually appealing to you and you know and just be safe and patient yeah and we'll go through some of those tools because this is a really risky space to be in it's so volatile some of the things that i personally look out for is i research the reputation of the creator i'm going batshit crazy looking out for their linked uh linkedin their web to their amount of followers they have on twitter and it was so funny you and I was on a shoot this week and some guy was like if I'm going into a project I'm making sure the founder didn't just freelance for Google for a month not that I'm saying there's any issue with that but if that's what you're going to run with is that enough for you to be with that community and run with it there needs to be some more skill set or you know some more of a human face that I can attach to the project something that I like you know I wake up sometimes and I think coming into work at real vision is this is a community where people you and i have faces to talk about these projects and i just want to hear from that person when i want to start sort of thinking about going to invest in to that project or not i don't have so much of an art eye but the community value is something really um interests me say for example caitlin who was you know talking about the art she was curious about it you know because everybody has their own taste right that's why there's so much stuff thrown out there but the utility of an entity is very important right and the thing is i started talking about you know you will come across people in the discord in the community that who wants to talk about finance how should you invest you know roth iras people in their 30s certainly for my crowd are starting to look into that and if they can attached to like online digital friendships you know it's just the same as like doom scrolling on TikTok but within the more collective community you would sort of get your answered more targeted and that's what the great thing about online community is you know and then I also look for how long they've been in the space so say for example our Real Vision Collective we worked with the top we picked out top nine communities that we can think it's safe and cool to work with and i just think you know talking about your first jpeg that you bought and ai integrated in that how many years do you think have you hold that nft for now the one on your t-shirt how long have i held it yeah uh when would i have bought this wow that's a good question i would say it was sometime in 2021 would be my guess i'm not entirely sure and that just like opened the floodgates for me like and it was one of those things i had like taken a little bit of e off my ledger and been like okay this is all i'm gonna spend on nfts and we've talked about this before 99 of my eth is now in nfts which is completely reckless but it's also just one of those things that like i just have too much fun doing it and you know like i said before i learned some lessons very early on about you know how to get into this space and you know i still have those nfts in my wallet and I look at it and go, Oh man, I spent a lot of money on that.

13:01That sucks. You know, but at the same time you pay crypto tuition by, as they say, fucking around and finding out, you know, pardon my language, but you know, that's, that's what happens. You, you go in and you have to, you have to learn it on your own in some cases. And just, just to your point, going back, I mean, I think there are a few people in this space that are really great follows from like a philosophical standpoint at 6529 and being one of them dc investor is another one and these aren't people that are going and saying you should buy this nft but it's more about like their framework how they you know view the space and how they you know choose what communities and what nft projects they want to be a part of and i think that you know that's a that's a great place to start and then like you said when you find something that you're interested in kind of digging into you know the who what when why where you know what what's being built and who are these people i think is crucially important you're gonna love this comment from one of our viewers at the moment peter rook goes if you don't believe it or get it no sorry if you don't believe it or don't get it i don't have the time to try to convince you who said that who said that jeremy who said that yeah do you know who that's a quote from i don't know who that's a quote from apparently Peter tells us it's Satoshi Nakamoto.

14:25Really? Yeah. I mean, there you go. The fruit's in the pudding right there. But I don't know who Peter is, but you know, Peter, I hope you're not spreading fake news, to be honest, but hey, here we go. That's a good one, Pete. So moving on, for me, it's about content creation and ownership. I think that's when I got the click together, right? And just to watch the ensuring of proper transfer of rights and ownership is where this space really interests me um okay so now we've spoken about that let's talk about where are the sort of places that you can go to get an nft because people understand they already released that big sigh when they're like well first of all you need a bit of cryptocurrency then they're like all right we'll let them figure that space out um but then they're ready to shop okay then they're ready to you know explore i told caitlin she wasn't going to get her free nft from me because you know value is scarcity right all this sort of stuff kicks in and you start wanting ownership you start wanting access to this community so tell um let's have a little conversation about where you get your nfts for me it's all about openc i do go to openc i love using it i'm getting to that age of don't like small funky fonts from blur so and so much drama as well around it people just i i get it the space has to build out they have to grow it's called growing pains but for me i just always go to openc i'm just used to the interface the ux is easy um where do you go to do you get all your nfts from one space or you spread them out um amongst different markets because it doesn't matter right like as much because your wallet gets connected to these web3 applications so where are you buying your stuff where are you shopping jeremy is my question so first of all i feel bad for caitlin because i feel like caitlin is just catching strays on this episode she she doesn't know she doesn't know she's being talked about um but yeah i mean predominantly open c um and i mean much the same as you i just feel like i'm getting too old to learn new things but i mean here we are in the space learning new things so Every day.

16:36But I find that OpenSea is the easiest kind of user interface in which to do that. I played around with Blur a little bit as well and have sold some things on there and purchased some things on Blur. But also, I mean, there are so many marketplaces and there's so many marketplaces for different chains as well. So like OpenSea, you can purchase with Ethereum or Polygon. Blur is Ethereum. You know, there are Binance Smart Chain. You've got Polygon. You've got Flow. You've got Tezos. You've got Solana. There's a whole bunch of different chains. So that's the other kind of wrinkle is like what, you know, what chain is your NFT that you want?

17:19What chain is it on? But for me, I mean, predominantly I purchase NFTs with Ethereum. I use OpenSea mostly. They've rolled out some new features recently where you can search by traits. you can search by rarity as well which is really helpful but yeah i just find it to be the simplest way to buy and sell nfts i think you know they're they're obviously the biggest nft marketplace and i think they do a very good job yeah and we're just putting it out right there um okay so this is another website that we wanted to talk about right um i don't know if the producers are showing in the back but rarity sniper what is that i mean i use it but let's just have a conversation about rarity when we talk about scarcity and value when a collection is dropped out there rarity obviously are the ones that will rave to come around they might be more worth a little bit more value um as you pick certain collections how do you use rarity sniper so rarity sniper so this is kind of the thing if you're looking for an nft you know let's use i know we're going to talk about knack amigos in a second so let's use that as an example you know knack amigos launched a couple months ago now and there are you know various traits so you've got a collection of 20 000 nfts with knack amigos so many different traits like you can go in there and spend hours looking at you know there's football helmets basketball jerseys there's snowmen there's frogs like There's so many different things, right?

18:51And they all have a different percentage of how rare they are out of that 20 ,000. So for an example, let's take, you know, the frogs, for example. There might be only 3 % of that 20 ,000 are frogs. So you can go on Rarity Sniper and you can basically search by that trait, see, you know, which traits are trending up, trending down. And that just that can help you, you know, find maybe one of those traits that is priced a little bit lower than, you know, the floor and you can scoop that up and, you know, you've made a pretty good purchase, you know, based on, you know, how the community values a particular trait.

19:33It's more of an intermediate expert level, you know, way of looking at things, but you can find some pretty good deals there compared to, you know, how the community as a whole values a particular trait or set of traits. yeah so nakamigo is on the front page of open sea we don't know who is behind them it's very volatile there's 20 000 of them going around so there is a lot um but it is nice to see a collection when i do my shopping around i love actually picking one that looks like me or i connect to it's you know just something i would choose to add that layer of culture into my investment um so i like that okay so we talk about rarity snipers i mean let's keep on this conversation shall we good sources of information you know what exactly is d-y-o-r so you use rarity snipers is there any other website that you are using that you know before you even make the purchase you've got like the little web3 little mini search engines to help you out yeah i mean it sounds like a bit of a cop-out but i think twitter is a great source of information you do have to exercise a ton of caution but you know i've been following enough people for a long enough amount of time on twitter that i kind of know you know who are the good actors in the space if they're talking about a particular project then that lends a little bit of extra confidence to me um you know discord not everyone loves discord it can become quite overwhelming but to get in and ask questions you know you can join a projects discord before you buy it and go in there and just talk to the people in the discord and that's gonna take some that's gonna take some time right for a newbie to actually follow the world named space and put the back good actors bad actors but i think just listening to you for me one of those things that when i find a project interesting um for me is okay so we know twitter is definitely messing around with nfts right elon elon clearly knows what nfts are and for twitter to have like i think it's a little hexagon profile picture when you when you want to learn more about that community and you know decide whether that person is a good actor bad actor anyone can upload a jpeg right but it's actually a way of being verified in blockchain if the one of those profiles has a hexagon picture and you click on that hexagon and it links you to a verified project you see that thought chain is already taking you down a verified path does that make sense to you that's how i would sort of scoop out if i should listen to that person on twitter or not yeah i mean it's interesting because i mean like i don't lend a whole lot of value to like the blue check mark anymore you know because anyone can just spend eight dollars and get a blue check mark and you know what what does that mean um yeah i mean i don't really know much about the the hexagon profile pictures like it does that if you click on that does that take you directly to yeah someone's asset yeah you click on it and it takes you to i don't want to say open c but i think it takes you to the exactly how what the project is so that chain of it yeah yeah i'm surprised you haven't clicked on one okay i've never clicked on one yeah so that for me just shows you like you know follow the blue checks follow the verifications follow people's train of digital footprint to lead you to that jpeg and what it offers and what that community is doing so that's like good sort of sniffing out uh for me as a radar um honestly you never want to be my ex uh listening to me do this stuff uh other websites that I use I find this interesting and I can't remember at the top of my head but I did give it to my producer hold on can we please flick up the page where I want to talk about inspect nft inspect have you heard of this website I haven't but I heard you talking about at the top of the show and I'm very curious yeah so nft inspect is basically you can go in there you can put in a project's name and you can see the engagement on twitter how many tweets i mean i just digged into there like border yacht club had like sound it's still very much talked about on twitter you want to see how active the space is as well one of the things that i think you have to be prepared to do is basically when you click on the project openc go onto the activities tab and you see transfers like are people still engaging in that project are still people still buying the project are people still selling the project i think that's a it's a good way so nft inspect just checks like some of the statistics about if the founder is you know tweeting or the community is engaging and i think that's really important um okay so then i want to move on uh to talking about uh oh hold on before i go there is another move on to the next topic there is another website that i want to flick up actually that i want to share i'm not sure if you know about it but I had another one that I wanted to mention as well.

24:40Oh, you have another one? Okay, okay. You go first and then I'll jump in. Yeah, yeah, yeah. Okay, so it's dgens.finance. Of course. Yes, okay. Do you know that website? This is the Rex guy guys, right? It's Ovi and Amanda? Yeah, exactly. So, okay, all those funky names that we just threw out there. There we go. For our visionaries who love a bit of good stock ticker action, The JPEGs have their stock ticker too, believe it or not. So I think this is by one of our, again, top nine communities, Pharma Collective, the Rekt community. The founders behind this, I believe, made this website. And I really like this as giving it a morning read, just like your digital daily tea digest.

25:26I love going through macro because, you know, I just think everyone, the minute you step into the world of crypto, you have to learn about trading. You are trading and you go into, I get the macro backdrop. and then I get a bit of the crypto backdrop because obviously there's been some crazy meme coin stuff happening out there as well. And then it goes on to NFT and we're bottom of the food chain. No one cares about it at the moment, but our communities and the people still exist, 100%, they are still there. There are, you know, Mekon is happening right now and it's just, there's a lot going on for it to be ignored and completely off your radar.

26:02are. So this is a website that I use as a regular tool to keep me updated with the space. Go on, Jeremy. What do you use? Let me see if I know about it. So I was going to say, first off, just another thing, if you're looking at OpenSea and you're looking at, you know, a particular project, one thing that I think is always a really good indicator of like the strength of the community is how many of those what percentage of those nfts are listed so for example i was looking at my favorite nft community which is mfers uh which is my profile picture on twitter and they were making a bunch of buzz last night because we're under one percent listed on openc i think it's 0.9 right now and that just means that people that are buying this nft are holding it they're not listing it to flip it um you know they're engaged with the community they want to be a part of it so i think that that's always you know a really good indicator of you know the strength of the community on to the other website that i like to use and this is more of like an nft news website it's called nft now it's by a gentleman named matt medved who i listened uh to at consensus great thought leader in the nft space and i mean you've got everything there from you know upcoming drops that have been you know vetted by their team that you know are happening in the next week or so you've got nft news you know what projects are trending but then you've also got kind of like a more macro look at things you know for example it talks about which you know traditional you know web2 brands are entering the space you know the innovation that's going on so i think as a as a jumping off point nft now is a really great resource to learn more about the space and then you can kind of dig into the more granular stuff as well.

27:50So definitely, definitely plug NFT now. Okay. And when you, you know, just when you mentioned a little bit about Web2 brands coming into Web3, this is why we talk about the crypto space. We can't ignore NFTs. They are just there. They're about onboarding, integration, and everything out there, right? When you look at some of the biggest brands out there that has a web 3 strategy it's insane nike gucci i don't know let's wordplay here let's throw some brands out there shall we what have you got adidas louis vuitton dolce and gabbana like there you go yeah and there's more of them popping up every day you know tiffany's breitling which i found so dude have you clicked on the breitling website no so if you go on the Breitling website the fifth oh there is DGN stance activated he's gotta go so you know I asked my friend who's a massive YouTuber influencer for Manchester United in the UK I said boy how come you're not messing with any crypto he goes I don't touch a crypto man I only owe one NFT and I was like what's your NFT and he goes it's an NFT for my Breitling I see it right here So, yeah, pick out some of those keywords, man.

29:10Why do you think Brightly has integrated NFTs into their systems? I mean, it's a good question. I mean, there's the proof of authenticity and proof of ownership that goes along with it, right? Like, I think that that's just so crucial. I'm a wine guy. You know, before I started working at Real Vision, I was selling wine. And there's a lot of, you know, spirits and wine brands that are starting to get into the space as well. because you've got a product in wine that is a perishable good, and it travels all over the world, and it's really interesting to collect wine. And one of the biggest things about that, one of the biggest issues is proof of authenticity, provenance, and I think that that's where these brands are coming into the space and seeing value in it because all that data is on chain.

30:04you know i mean the dmv in california is starting to issue nfts i'm pretty sure yeah yeah correctly you know so many different use cases so many different um industries that you know we we say industries that are disrupted by this but i think they're elevated by it you know disrupted is like almost a term that kind of like closes it off a little bit but it's like no we're trying to elevate this and you know help it become more efficient more fair um you know i think that I think that that disruption word is maybe a little bit misused yeah I totally use handbag analogies for the women who I speak to like there's a new handbag collection drop Gucci does a new drop for spring summer 2024 the rarest ones will cost more money um and you know you have this handbag community and these group chats that you want to share with how you purchase how we do e-commerce as well.

31:00I think it's going to pierce. It's clearly piercing through there. And we were talking about Web 2 fans coming to Web 3. We see Web 3. Stuffing for breath on this show. Web 3 brands going into Web 2. You saw a flick of the screen there. NFT now, right? Pudgy penguins. Cute little penguin things. Me and Ash spoke about pudgy penguins like a year ago. But they've released like a set of toys that's reportedly or allegedly made $500 ,000 worth of in a day right so is can macy ignore this you know amazon is like somebody's clicking on this today what are these penguin things are they going to increase over your christmas cells who knows you know there's only going to be a matter of time someone in web 2 builds that url there you go someone builds that url and be like oh they're the nft collection collectibles you can see that happening right a hundred percent a hundred percent yeah okay so we've mentioned that now I know you've touched on a little bit um do you want to go through some of your communities that you do like yeah I mean communities that I really like I mentioned MFers that's like that's that's the one that I love the most it's a vibe it's a vibe out there and like before we move on i do want to tell people that one of this stuff is not cheap you know it's like a little bit over a g but i know your community doesn't like talking about floor price and whatnot okay he's like he's like twitching a little bit he goes how dare you talk about the vibe of this community it is a vibe of itself it really captures the culture and the sentiment of web3 i totally get it and the people that we're talking to for our mini doc as a series that we're releasing out there as well the it's the great humans of those we are finding those five percent great little humans in these little communities and it's been wonderful these conversations have been great yeah it's been super cool i mean i talked to a lot of these people on twitter many of whom i've never seen their face before we've been friends for a couple years now and said like actually see them face to face and like put a face to the mfr is really really cool um and just to go back you mentioned utility earlier the fun part about this community is like there is no utility it's literally a stick figure profile picture an image that you know the the creator just said you guys go run with this it's all cc zero which means that the ip rights of it have been turned over the community he's like go and you know preach the gospel of mfers you know and and make it what you want to make it which i just think is super cool and the community has really jumped on it i mean i was on a twitter space for like an hour and a half last night just listening to mfers shooting the shit together and it's like what's cooler than that you know ridiculous get back on netflix jeremy all right let's start to wrap up this video uh one of the red flags that people should look out for i think that's a very important conversation just a little quick few points about you know some of the red flags out there for me one of them is when you uh buy certain nfts projects have been scammed projects that have been stolen the jpeg they come with the exclamation mark next to it in open sea i think that's something that you should be aware about when you start shopping around snooping around about what you want and what you like to hold in the digital wallet to be involved with the community that you hear so much about so that's one of me so what's one of the red flags that you want to put out there um it's it's a good question and it they're increasingly harder to spot really but i mean you know you can go on twitter and see people you know talking about a particular project and you know it's gaining a ton of hype and whatnot that does not mean that it's you know a safe or be you know something that you should invest in and i just think that you know one of the biggest red flags internally is fomo you know and you should try and kind of like tamp that down as much as possible and really get an idea of what it is you're jumping into Like I said at the top of the show, invest in stuff that you like first.

35:11You know, try not to be a speculator right out of the gate. Like, buy something that you like and that you resonate with. But, yeah, I mean, just try to, like, overcome your own emotions. If you see something's pumped, you know, 500 % in the last couple days, like, maybe there will be a better entry point. You know, you don't need to go running through the doors, you know, losing your hard-earned ETH right out of the gate. So I think it's more of an internal thing is like, check yourself before you wreck yourself, you know, try and keep that FOMO under wraps. And yeah, just be patient and have fun.

35:45Wow, I feel like we've managed to tame you on this show by asking all the questions. I did a lot of damage to myself over the last couple of years. I'm a much different NFC buyer than I was two years ago. Good Lord, we do that. We hurt ourselves just to help others. My God, that's the motto for the day. All right. Right. So I'm going to wrap up the show. Jeremy, thank you so much, my dear. That's it for this week on Real Vision Crypto Daily Briefing. Remember to sign up to Real Vision Crypto. It is absolutely free. And you get to hang out with us from time to time. Go to realvision.com forward slash crypto.

36:22We'll be back again with another set of awesome guests for next week. This is including the names of Rob Frasca, Stacey Warden from Algorand, which I'm really looking forward to. and spend months booking to come on this show. So make sure to join us live. We'll see you on Monday at 9 a.m. PST or noon Eastern or 5 p.m. in London. Thank you so much for watching and sharing with us some of your time. Happy weekend to all of you.

36:55Today's episode of the Real Vision Crypto Daily Briefing is sponsored by Origin Ether. Earn elevated yield on your Ethereum directly into your crypto wallet. Deposit Ether for OETH or deposit liquid staking derivatives to boost your Ethereum yields now. Head to realvision.com slash OETH now to learn more.

From the publisher

Today’s episode is sponsored by Origin Ether- Earn elevated yield on your Ethereum directly in to your crypto wallet. Head to https://realvision.com/oeth now to learn more.
Crypto jargon can be pretty daunting for newcomers. "Asking for a Friend" is designed to help with that. Join Real Vision's Jeremy Varlow and Elaine Ly for a primer on the NFT space: Is it dead? (Spoiler alert: no.) Where do you begin? What should you know before buying? What's the point? All to be discussed — join the conversation with your questions.

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