What is the best marketplace to buy NFTs? | The Market Report

Hello friends, and welcome to the Market report on Cointelegraph. I am your host Benton and we are joined again by resident experts Jordan Finiseth, Marcel Peckman and Sam Borgi. Jordan uses his background in psychology and human behavior to spot emerging trends in crypto. Marcel Peckman applies 17 years of experience trading derivatives options and futures to the crypto derivatives markets. And Sam Borgi is a business editor at Cointelegraph where he brings a decade of experience in economic analysis and financial market writing. Fellas, welcome back to the show. We got a heated debate what's going on this week.

Not much. Happy to see the crypto market a little bit in the green going on there. So we'll see how it's going. I know it caught a lot of people off guard, but that's crypto and the things are changing. So I'm excited to see how this goes.

I'm not as happy as Jordan. I don't think that bound 33 to 36 or 30, maybe even 37,000 something to celebrate. But I'm impressed with, for example, Suzu from Three Arrows Capital. The guy was buying Ethereum $600 million just last month and now he's saying he was caught off guard. He was surprised. He did not expect cryptocurrency to drop so much. So at least I'm not alone on this mistake.

Yeah, Zoo's a bit of a permeable, but I agree with a lot of his assessment. I don't think any of us saw the top. When you take a look at all the indicators around 69k for Bitcoin, nobody was really expecting it to peak at that point. Whether we had a proper top or not is anyone's guess at this point. But right now we are more or less trending sideways and it seems like that's no one knows exactly where we're going to go. So it's going to be interesting the next few weeks to see whether we trend upward or downward.

Interesting times in the markets. I know Marcel is going to be diving into that a little bit later here. Super exciting show today. We're going to talk about what is the best NFT marketplace. And as you all probably know, if you've been tuning in over the last couple weeks, we've reformatted the market report and the way we're going to set things up today is each person is going to have two minutes to talk about their particular platform or marketplace for today. They're going to highlight why it is going to be the best marketplace to buy, purchase or sell your NFTs. Once that two minutes runs up, members will have a chance to cross examine the the presenter and maybe even point out some of the flaws of that particular project. You all the loyal viewers, we appreciate you all for tuning in today from around the globe are going to have the chance to also ask questions in chat. We want to hear from you, make sure you're chiming in, ask those questions. But at the end of the show we're gonna have the live poll to decide who is going to win the debate today. What is the best marketplace to buy, purchase, sell NFTs. So also we're giving away the one month subscription of Markets Pro and we're going to be looking in the comments today to make sure we're picking the folks that are asking the questions, making great comments. So if you have a thought, put it in chat. We're going to see those and we're going to pull those up throughout the show. Also going to be answering questions along the way. So first things first, 20 off discount is in the description for Markets Pro. But we're going to bring you the weekly roundup. It's been a bloody week in crypto and we're going to talk about some of the highlights after we run through the weekly roundup. So Danilo, run it back my friend. Let's get this party started.

Foreign.

Is the McRib back at McDonald's. McDonald's was throwing some shade this week on Twitter. I don't know if you guys saw that, but go ahead and like subscribe first. Let's, let's get the like and subscribe. If you haven't tuned in their channel, we're here. Tuesdays 12:00pm the market report. Make sure you smash the like button, turn on the notifications. So you know when we go live, Marcel is going to jump into some market stuff. He's going to walk us through what's happening right now. Is the sky falling? Are we at the bottom and about to surge back up? So let's hand this over to Marcel to take us into the deep dive for the markets.

So the trillion dollar question here is are we still on free fall Mode or was 32900 the ultimate bottom for bitcoin? Firstly because that would mean a higher low from July's 29,000 but more importantly to confirm that crypto markets anticipated traditional markets. So it's a reaction to Federal Reserve, it's a tightening movement, it's a macro stuff. It's not crypto or bitcoin related. So that's the Big question. So there's a huge difference from a 52% correction caused by the ETF rejection, regulatory uncertainty, tether manipulation and fraud Comments by the SEC vs. General Markets Risk off caused by rising interest rates and fewer bond purchased by government. The truth is, I do believe it's a mix of both. Especially consider that Bitcoin plunge, The downtrend initiated November 10 and the S and P. So the stock market peaked on January 4, so two months later. So a lot of people talking about correlation. But when we're analyzing the data, we can see that there's huge difference between crypto markets and traditional markets. So the first data I want to show you. Danilo, you can share my screen please. So the first data I want to show you is the futures premium. So what is the futures premium? So traders need to put up money upfront and wait three months for the contracts to expire. So that's CME contracts. That's not the contract that you trade on binance, but it's the contract mostly used by professional traders. The CME and some other exchanges offer that. So they usually ask a premium between 5 to 10% to withhold settlements for three months. So whenever the premiums is above 10%, those traders are bullish. Whenever this premium is below 5%, these traders are excessively bearish. A negative premium indicates that our market's gone to hell. It's make it or break it, so it's everyone for yourself. But this situation did not happen. So as you can see on the chart, on January 21, the bottom for the futures premium was 4.5% and it's currently sitting at 6%. So yeah, traders are not bullish like the 10% next to Christmas on December 25. But the professional traders are not bearish. So this is a good indicator for us. But more importantly, we need to compare Bitcoin with other whiskey assets. And in this case, I'm going to show you a Chinese auto electric producer called byd and we're going to check the chart against Bitcoin over the past five months. So as you can see here, the blue line is Bitcoin price. So you have the scale on the right side. And the orange line is the byd, the Chinese auto electric producer. Its market cap currently stands at $90 billion. So it's a big company, it's relevant enough. And you can see that the similarity of the movements, it's really huge. So thank you. Thank you, Danilo. So this tell us that Bitcoin is in fact trading together with risky assets. So Whenever the Federal Reserve and the central banks of the world are printing $12 trillion out of thin air, its impact on every market, even cryptos, it's huge. Okay, so from my personal view, it's not sure if that we bottomed, but professional traders are cool with that. They are not bearish and we're simply following riskier markets. And lastly, for the Ethereum fans, I want to show a last chart. Danilo, can you share my screen please? So this is Ethereum dominance excluding Bitcoin. Okay? So you can see that it peaked near 50% in February and it recently rebalanced to a 34% average. But over the past since the peak, Ethereum dominance went down from 37% to 30%. Now what's behind that TVL? The total. Thank you, Danilo. Total value locked on smart contracts because Ethereum TVL peaked at 167 billion and it's now near 110 billion. So a 30% decrease. Meanwhile, Terra, Phantom, Avalanche, they all went to $10 billion and over. So as long as Ethereum 2.0 keeps being postponed, it's definitely going to keep underperforming these other assets.

So I have a lot of questions for you, Marcel. And so we're looking at some of those charts. I guess my first question to you is this, is Bitcoin leading some of the more risky assets in the traditional market or is it in the reverse where traditional risky assets are leading? Bitcoin? What are your thoughts on that?

So Benton, if it's leading, it's maybe for a week. But if we compare some of the assets like wood in United states, it's picking $1,000, the ply sheets for wood and it's down to like $400. So the peak of the wood price was before Bitcoins, the byd, the Chinese auto producer, a week later. But I don't see Bitcoin as the leading indicator for risk assets. It's not because of that. We simply had the bad luck of SEC rejecting the ETF on November 12th. So it rejected the Vanek ETF and it started the downtrends. But it's not a leading indicator.

Just to keep it simple for what everybody's worrying about there. So it sounds like you don't think that we're headed for another crypto winner, like another two year crypto winner for like from 2018 to 2020, is that what you're saying?

I don't think that the Federal Reserve and the central banks will want to increase interest rates over the course of course of one year or two years. It's like pulling out a band aid. You want to inflict max pain within three or four months and then let the market rip off. That's what the Federal Reserve wants. They don't want to be inflicting pain over the course of one or two years. So I don't expect a bear market on Bitcoin because of general market conditions to withstand over eight or nine months, no longer than this.

So, Marcel, I know it's hard to predict, but how many rate hikes do you think the Fed will get away with? Is it two or three? I think the consensus now is around three, but you know, I don't think they can do it indefinitely. Right. The reasons that you mentioned. So how many think do you think they're going to be able to sneak in this year.

Sam? If inflation continues at 10% and over which I think it's highly feasible, they need to raise interest rates at least to 7% and this needs to happen within nine months. If it takes longer than nine months, it's not going to be good for economies and not good for Bitcoin as well. But I don't think the Federal Reserve wants that. So within nine months, we needed interest rates closer to 7% if inflation currently stands at 10%. So if a bear market happens no longer than nine months, that's the bottom line.

Very interesting. 2022 is, is off to an interesting start. I, I mean, I don't know what, what to think right now. I think everything is, is moving the opposite of what folks thought. So thank you for your insights. Marcel, excellent points providing some of the futures, stuff like that. All right, so let's, let's get into this debate today, folks. This is why all the fans from around the world and are here today, they want to find out what is the best NFT marketplace. And so let's get this party started with Sam Danilo. If you want to run the intro, we can get this rumble on the road. Let's go.

All right, thanks everyone. So for me, my pick this week for the best n NFT marketplace with the highest potential value is going to be solanart. Just letting you know why I chose solanart. It's basically a secondary market for NFT projects that lets users buy and sell digital collectibles very easily and at a very low cost. And as the name suggests, it's built on Solana. So that's one of the primary reasons why I selected Solana. Solana is one of the biggest ecosystems in blockchain. Not to mention one of the best performing cryptocurrencies of the past year. The platform has been designed to appeal to artists who want to showcase their work, grow their fan base and ultimately get paid for their artwork. So that of course, while also promoting Solana native NFTs. There's so many benefits and advantages of Solana compared to other platforms that I really believe it's going to be one of the biggest marketplaces. Already is one of the biggest marketplaces, but I think its growth is going to continue moving forward. Solanart is built on Solana Network, as I just mentioned, which has several advantages that other networks have not yet delivered. Low transaction costs, high speeds, high throughput, and of course the ability to transfer Solana's native token from wallets at a low cost. Despite only launching in mid-2021, you know what, six or seven months ago, Solanard is now the 10th largest NFT marketplace by volume at over 350 million. So it's not just some abstract project that you haven't heard of. It actually has, like any other Solana project, actual uptake, actual usability. Unlike other platforms such as Nifty Gateway, where artists and collections are curated, you know, whatever that means, Solanart lets users list and purchase NFTs on an open marketplace. So if you're looking to list your NFT and you actually want to gain traction for your collectibles without any kind of manipulation behind the scenes, and Open Marketplace is the perfect spot to do that. Solanart has already produced very popular NFT collections such as Degenerate Ape Academy, soulpunks, Aurora and several others. Sol is one of the most widely used cryptos in the market, as many of you know, with a massive adoption rate, as evidenced by not only Sol's massive price spike that we saw in 2021 that many of us missed out on, myself included, but also Solana's Phantom Wallet has seen massive uptake. Now it has over 1 million active users, and a big part of that reason has been the growth of the NFT ecosystem on Solana. Solana has the massive ecosystem, it has the community, and it actually listens to its users. On Solana, we actually saw some UX updates over the past little while trying to make the platform more usable. So anything built on Solana I think has a major step up. That's, that's my spiel.

Thanks Sam, for your, for your, your pitch on Salon or so what we're gonna do first, I saw Marcel chomping at the bit here to ask this question, so Marcel, jump in first.

Yeah, Sam, a good show. Good, entertaining. But let's be honest with each other. Solana and FTX and Sam, they're basically the same thing. And FTX US has their own NFT marketplace. So why would companies such as Adidas, Gucci or whatever use Solanart instead of using the FTX regulated NFT marketplace if it's the same price and the same network?

Well, because they want access to one of the growing, one of the biggest marketplaces. I don't think solanart is going to be the only one, but I definitely think if you want access to one of the growing, the fastest growing markets on one of the fastest growing blockchains, with all the advantages of the throughput and the low transaction costs, I think Solana is going to be a very, very viable venue for that. And that's why Solana has seen so much growth so, so quickly.

What about the network keep going down? Like what if my NFTs get stuck on Solana, man?

Like yeah, that's, that's, that's, there's, there's a lot of issues with, when it comes to early, early stage development and I think Solana has had that, so have other blockchains. But I think if you take a look at the development roadmap for Solana, the work that's underway, I see those issues being resolved in the future, especially as the platform becomes more decentralized, as Solana becomes more decentralized, I think you'll see a lot of these issues get resolved. It is an issue when it comes to the network downtime, but I don't think any of us are pretending that that's not the case. We've had such a massive uptake on Solana that maybe the capacity of the network hasn't been able to maintain during those massive spikes. But I do believe as the network continues to grow and mature, we will see those issues resolved.

I mean, I'm the biggest fan of Solana, but when I meant buy, sell these NFTs on Solana, am I stuck on Salon Island? Can I move these NFTs cross chain? Like I guess, you know what makes Salon Art so special when it comes to the broader ecosystem?

Well, through the partnership with ftx there is cross chain transactions between Ethereum and Solana. So there's that. But also you make it seem like Solana island is this little, tiny little island out in the Indian Ocean. Solana island is an actual continent and it's one of the biggest. So I think if you take a look at the network adoption rate of Solana, you're going to see that it represents a massive growth potential. So anybody who wants access to a lot of the, you know, the blockchain that solves a lot of the problems that Ethereum has, you're going to go to Solana. Ultimately. Do you really want to bet against this ecosystem? You don't want to at least dabble your toes in it? That's what I think a lot of these different companies and NFT creators are going to be doing moving forward.

The network is centralized. I'm not speaking about Solanart. I'm speaking about Solana Network. It has a CEO, it has its own group of developers. So if I had half $ million NFT, I would rather pick some more decentralized network for that. Just my opinion.

Well, that's true. I mean, Solana right now is more centralized, especially if you take a look at the Solana foundation and how rewards are distributed. But I think as, as more projects build over time, I think you're going to start seeing more decentralization happen. So that's a fair criticism. But I think that there's a lot of growth potential there. The adoption is there, the, the market fundamentals are there that I think you will start seeing more decentralization as the network needs to expand and move away from the, the foundation element of it.

You got a question here from Cersei. Marketplaces must be easy to use and Solana is not very intuitive for conventional people. What do you say about that?

I think I can use it very easily. I think a lot of people can use it. It really depends on the learning curve. But for me, I don't have any. Any. That's not one of the criticism that I, that I've really come across when it comes to using Solana ecosystem. I think it's actually quite straightforward. If you think Solana is hard to use, go go to Polkadot or something and, and then we can talk afterwards.

Do we have any other further questions for Sam? No further questions. Okay. Sam has stated his case. He makes some strong points. But I think there's also some valid concerns with the, the greater ecosystem and, and how this project may be associating with that ecosystem. And so for our next segment here, if you haven't liked or subscribed, go ahead and do so now. But by the way, I want to shout out to William Lotta today, this guy is bringing the heat. He is just throwing in some great comments across the board. I think we've, we pulled up a few of them along the way. Go ahead and chime in and chat. We're going to be watching and monitoring the questions and if I see any good ones, I'm going to go ahead and ask them. But for this next segment I am going to jump in here and talk to you about one of the greatest NFT marketplaces. So let's go ahead and get into Rarible. Danilo, if you would please take us away. All right folks, the best marketplace for NFTs hands down is Rarible. This was a community owned NFT platform to launch back in early 2020 and is a tried and true marketplace has continued to evolve. The growing world of NFTs. Call me a little bit biased, but I have been on the platform since its inception and minting NFTs and love how they took the page from the DEFI playbook. They issued their own governance token called rari. This allows token holders on the platform to control changes, to vote in the ecosystem and to control the overall direction of the project. This was also the first NFT platform to empower its community in this way, which I find truly unique. And because I'm all about the community when I look at platforms, I want the community to thrive and that's what Raable is doing. A couple other quick features that I want to note is that Rarible has secured funding from Coin Fund which is New York based blockchain investment firm. Another feature that I think makes Rarible the best marketplace is that they have Y NFT which is an NFT based insurance from Y earn Finance called why Insure Finance. This is also insurance that's underwritten by Nexus Mutual. And so currently there's about 274 million in trading volume which isn't the biggest. But I just want to make this, this quick comparison. When cell phones first started there was Nokia and Motorola and those were around for a while, but then came along the iPhone. And so I look at Rarible as the iPhone of NFT marketplaces and I'm going to show you why because I'm going to walk you through the website, I'm going to compare all three of these platforms today and show you how visually appealing when you see Rarible it just sucks you in. And when I look at like a website that's a little bit janky like Salon or it really, I mean Raribles just separates itself from the pack. It just, it's, it's like the cream rises to the top folks. So I think at the end of the day you also have to consider interoperability. And so with the power of Rarible, you get that cross chain interoperability between Tezos, Flow and Ethereum. And everyone knows Ethereum gas fees suck. So why not have the other options of Tezos and Flow? What can your marketplace do for you? And so that's why I think Rarible is the best marketplace in the game. But real quick, Danilo, can you, can we just do a quick screen share before I get cross examined and absolutely. Just hit the softballs out of the park here. So this is Solana. Let me just brace yourselves, audience, if you're prone to, to seizures or things like that, please refrain from looking at your screen. I mean this, just look at this. This hurts my eyes. I mean. Oh, but now let's get over to Rarible. Look at this. This is like a social platform. It's just smooth. And look at this. It's got so much stuff going on. It's giving you the top collections of the day. What's trending? These are the hot bids. Look at how this is categorized and organized. It's just so tight that I just, it makes it fun to go around and bounce around the website, purchase the NFT, sell the NFTs. And I'll give it to Theta. This is Theta Drop. Their UI is pretty good. I like it. It's super sleek, it's clean, it's definitely not Solanar. But those are the three websites just to give you a comparison.

So Benton, why you keep showing that those smart and beautiful and well designed screens. I have a more important and pressing question here. We constantly hear about false verified accounts on Red Bull. So should some entity have this power to define what is valid and not? And what about a multinational company like Adidas that have branches and offices all over the world? How can you verify one and not the other?

I mean, so like this is an even greater question, Marcel, because I mean you could say that you could ask the same question to Twitter, you could ask the same question to any other platform with, with fraudulent IDs. Sure it's a problem, but I think because of the way Rarible is set up that the DAO will have to institute security measures for that. And so again, that's going to come down to the community to self police itself, where you're not going to have just one person at the top of a corporation who wants to lay down the hammer and say, hey, we need all these security measures. You know, there's going to be a little bit that experimentation phase where you got to go through these evolutions. And so that's what I see for Rarible in the future.

What's gonna really attract people to like even for both Salon R and Wearable, I'm like, what's the pool for these people? They're just a platform. Like it's because we're on this network, we're on Solana or we're on this, so it's better. I'm like what? Why, why is it anybody gonna choose that over OpenC or some of these other marketplaces? Whereas you know, Theodrops got its whole like video stream inside. So what's up with that?

I think when you boil everything down, it comes down to one thing and one thing only, it is the community. And so you have this strong just bedrock of artists that have been on Rarible for about two years. Even though it isn't the biggest platform like an OpenSea, I think it's the strongest, most tight knit community inside of the NFT space. So that's what I think the offering is for Rarible. And you're right, I mean I think you can get two tribal with, with the chains where it's all this is an Ethereum based marketplace versus a Solana based marketplace. And so that's why I think you're seeing Rarible do that, where they've added in flow, they've added in Tezos, hopefully they start expanding to other networks as well where this could be potentially one day the, the one stop shop even though it isn't currently.

Well Ben, you were talking about, you know, what can your marketplace do for you? And then you bring up the word interoperability again and then you bring up Tezos like is this, this is the value driver that were interoperable with Tezos. Like is everyone here. This is the same Tezos project that's fallen off, you know, the past couple years. You know, Tezos tell you, Bezos never really worked out for any of us. Right. So is this what I should, is this what you're hanging your hat on? The interoperability angle?

It's not just about Tezos though, it's about flow as well, which as we know is a growing, thriving ecosystem. And so yeah, I will accept that knock that. I don't understand the logic behind them wanting to partner with Tezos. So you bring up a great point. I will wear that one on the chin today. And I would like to see them expand to other ecosystems like bsc, like Polygon, Phantom, even Avax, and start to branch out to those communities. But yeah, I will say that is the one blemish of this ecosystem is that they are so closely associated with Tezos. I'm not personally a big fan of that, but what can you do? You know, it's. It's a Dow government community.

Remember that when you're voting, guys. That's all I'm saying.

So I have one last question, but if we have time.

Fire away, Marcel, fire away.

We've seen projects such as the NBA, the NBA Top Shots create their own marketplaces. So what's stopping those companies to create their own marketplace versus using Rarible or another platform? What's the benefit for them?

Well, it's to cut out, I guess, any kind of middlemen or fees associated with selling on the platform. And so yes, if I wanted to go start up my own Amazon books tomorrow, I could potentially do that. But am I going to be willing to put in the work, the time, the effort, the investment, the resources to do that? Probably not. So why not just come to a place like Rarible where it's already created for you, you already have the ecosystem, the community to market yourself and have fun with it. I think that's what Rarible is all about is they take a fun approach to the ecosystems which some of these other platforms just, just clearly do not. They're salon art. Just looks like they came straight out of Nintendo game from the 80s.

Not a bad thing.

Some of the NFT projects out there like pretty like they're not the most high graphic thing so people aren't necessarily looking for high graphics.

Very true. Well that's gonna do it for, for Rarible. So make sure that you were trying me in chat with the questions, comments because we have Jordan coming up next and I really want to pepper in some really good questions here. So make sure that you ask them in the chat like and subscribe the YouTube channel Coin Telegraph. Go ahead and do that now. And by the way, I do want to also remind our audience that these are the expressed opinions of ourself. This is not sponsored content. These are the ideas and opinions of each individual that you are seeing here on the panel today. Go ahead, like subscribe down there. We love you all. Thank you for chiming in. I'm looking at the chat now. Jordan, why don't we jump into your segment now. Danilo, can you roll us into that.

Foreign.

The moment everybody's been waiting for? My choice for the NFT marketplace with the most potential is Theta Drop. Theta Drop operates on the Theta Network, a blockchain network specifically designed to deal with video streaming that allows users of the network to contribute computing resources to in exchange for rewards. The Theta project originally started with a focus on online gaming for popular games like Counter Strike and Fortnite and has since evolved into a full service video streaming platform hosting channels like NASA and the World Series of Poker alongside large communities of gamers and video bloggers. This opens up a wide range of opportunities for future NFT projects that can appeal to the gaming community, movie fans, crypto influencers, musicians and artists alike who will also have a stage or channel where they can promote their NFTs and interact with the communities. Purchases on TheTadrop can be made using Theta Fuel, the gas token of the Theta ecosystem, or users have the option of making purchases with a credit or debit card and the platform also currently has in the works the ability to purchase with btc Ether usdc. Not currently rolled out, but that's in the works again. And the Theta network is also Ethereum virtual machine compatible. So in the future NFTs that exist there can go out into the Ethereum ecosystem and any other EVM compatible network as well. Theta Drop has also has plans to release the native T Drop Governance token which has come up here on February 1st with an airdrop being distributed to early users of the marketplace and Theta and Theta Fuel stakers. So if you've made any transactions on Theta Fuel in the past or Theta Drop, you'll be getting 40t drop tokens for each transaction. So that's a give back to the community. As as Benton mentioned, they love the governance tokens and airdrops. All right, so if these the fees on Theta are minimal and Theta and Theta Fuel holders have the option to stake their tokens on validator or guardian nodes to earn T Fuel, which means that transactions can kind of become free if you get free Theta Fuel for staking and you can use that for transactions in the future or you can use those Theta fuel to purchase NFTs in the future. So there's lots of ways for people to kind of build within the ecosystem and gain build their NFT collection and increase their their cash flow with a community and marketplace that supports all manner of creators from well known artists like Katy Perry to crypto influencers and popular gamers. Theta is an ideal NFT marketplace for the crypto faithful who also want direct access to an entire ecosystem community complete with video streaming, music and gaming.

Presentation. I I think everyone's quite stunned because I I mean I haven't really heard of Theta Drop until You brought it up to today's show. Now I see in the chat we got a lot. I noticed this week you had a lot of Theta fans on Twitter commenting on the post. So you got this crowd rallied up today. Sam or Marcel, do you want to jump in here first with your first question? Marcel, take it away.

So my first question for Jordan is, is the platform even ready and if it is, what are the incentives for large projects to migrate to datadrop?

The biggest incentive for people to migrate to thetadrop is to have the access to the Theta community, the whole Theta TV ecosystem with video streaming and a whole community that they can access and promote their projects to. And yes, the, the even though it's in beta, the marketplace is alive and you can go and purchase NFTs on there. And I even like the auto, auto purchase where say the new, new drop is coming up. You can pre fund your wallet and sign up so you don't have to be there trying to sign up for it when it gets released. And it'll automatically put you in line and try and bid to get you the NFT on new drops so you don't have to sit there at any random time during the day and trying to purchase it against a bunch of other people.

You know, Jordan, you, you mentioned how Theta drop evolved and then it evolved to become this more, more NFT oriented marketplace. For me it just seems like it may have just pivoted to what's trending. I just never really saw Theta drop as being this NFT focused ecosystem. It could it be that, you know what, we've seen this, this big thing, it's trending NFTs, NFT buzz, let's just kind of pivot in that direction. That's kind of what it seems like to me.

Well, it might seem like that, but when you have like videos at the beginning, they started with video gaming and that was one of the biggest like ends for the NFT community. How do we get video in game video items out of them so people can monetize them? So to me they always had this in the plans. It was just waiting for the whole crypto, cryptocurrency ecosystem to move forward. Like why wouldn't you include NFTs with video streaming and gaming? Or why that to me that doesn't seem like such a leap for them to like, oh, this is completely outside of what we thought we should do, but let's go there. I think that that just they move that in as NFTs became popular in the whole marketplace. But I think that was always a plan in my opinion.

So. All right, Jordan, I think I have a question about the actual like utility of. Of the marketplace. It seems like this is just like every other marketplace. What in your opinion really distinguishes Theta Drop from. From other ones out there?

As I said, you got your guys, you got just a marketplace. Theta Drop is connected to the Theta ecosystem, which is a video streaming platform and whole community of people. You got Katy Perry coming on lots of other places we're going to do in the future. You got World Season, but I'm looking.

At the website right now.

Why is anybody going on to your guys' sites? There's nothing else besides the marketplace.

Affiliated though.

My favorite crypto youtubers and influencers and I could like. I have YouTube.

I'll go to YouTube though.

Take a look at this.

YouTube isn't blockchain based. Aren't we here for blockchain.

Amazing blockchain innovation, video streaming. That's really. Is that.

Is that. Yeah, I like, I like being able to earn money watching the videos that I watch. I can watch the same videos on Theta that I can watch on YouTube but I earn money for it, yo. Yeah. Oh, yeah, sorry. I'm sorry. I like to earn money and not just wait.

Brave browser. Brave browser also allows you to earn money while streaming your videos on YouTube.

Yeah. So I watch. I use data on the Brave browser and double up my earnings. Yeah, you're. Now you're talking. Marcel.

So the big cross chain. Go ahead.

Oh yeah. If Theta is Ethereum virtual machine compatible. Yes. And Marcel, question actually originally launched on. On Ethereum. Then they launched the Theta network, the blockchain. But it is EVM compatible.

So can I use a metamask?

Yeah, you can go. Go to chain list. I think it's chainless.org say I want to add the Theta to my metamask and you can, I promise you. It just.

It seems too confusing. I don't know. I just.

Over here.

Lost. I'm lost already.

I don't know.

I don't know. What's your question there? Because they weren't all on Ethereum.

Yeah, I'm pretty sure you have gone marketplace.

Okay, so Jordan spoke about the advantages of being blockchain based. So I just want to know how decentralized the tetadrop is. How does the government token acts and are we having voting right now? What's being decided? What's decentralized about it?

The TDROP token releases on February 1st, so they're going to be airdropping it. A lot of the large department apply to a large portion of the supply to previous Theta and Theta fuel stakers and people that have transacted on the Theta Drop marketplace. I haven't gotten too into like deep into the weeds about what the Theta governance token, the table governance token is going to allow. But it's a governance token for the platform. It's going to allow people to get into. Involved with the community.

Okay, but right now there's no governance involved. It's semi centralized or centralized. Is that it?

Yeah, the government starts on February 1st.

Okay, no more questions or further, my last question.

Has there been any kind of like security audit on. On Theta Drop? What's. What's kind of the background of that?

You know, I'm not too sure. I don't have. I don't haven't looked up that. But I'm sure I'm. I'm gonna assume there is. I know what they say about assumptions, right? But Theta is gonna. It's a pretty well established project. I would imagine that they'd be out there having like no audits whatsoever. And again, I've used Theta drop for several, several tokens and some I didn't. I just went there the night before preloaded pre funded my thing. I said I want to get this one. And the next day it's like you purchased this nft. Good job. So I haven't had any problems with it and I haven't heard of any secure major security issues.

So just a lot of rug pulls, right?

No, no, not compared to any other network.

I'm just kidding.

Don't look it up.

Just kidding. I didn't mean to cast Slander or libel. Yes. All right folks, poll is live. Make sure you cast your vote. We want to hear your voice. We all know who's gonna win this one today, so it starts with an R. Voting begins now. Let's go go for the Dow based project, folks. Vote now. You got 30 seconds. 20 people have voted so far and I. What was that, Adrian? Variables winning 90. 90 of the votes are going for raribles. So folks, it's a close race. Make sure you're voting. All right, I'll give everyone one. One closing thought. You get two sentences. And then we got to move on to markets pro so that nobody becomes a markets Joe during this period. Jordan, two sentences. Sam, I'll give you two sentences to try to pitch the audience one last time on your project. Two sentences. Ready?

Go.

Jordan, you got a big community, video streaming and music and lots of promise in the future. Got governance coming up and decentralized community in the works.

So that was three sentences. That was three sentences.

No, I didn't put a period.

All I heard was lots of promises. That's all I heard.

Lots of promises. All I'm gonna say to everyone watching is, do you really want to bet against Solana again? You missed the first time, the first year long pump. Don't miss it again. Don't miss what? What's going on with Solana? That's all I'm saying.

Just doubt it, folks. Just dao it. Make sure you vote rarible. That's all I gotta say. All right, looks like is it. Theta drops up 72 right now. Rare will come in hot. 18 Salon Art 10. We got one minute to go on the poll. Let's go ahead and jump into Markets Pro. We're gonna give you the two coins that moved this week and and walk you through what happened. So, Danilo, let's go ahead and jump into Markets Pro. All right, folks, it is News Quakes for Anchor Protocol. If you were able to catch that newsquake, you were probably able to spot Anchor Protocol. So newsquakes are what move the crypto market. Newsquake service by CT Markets Pro helps traders stay on top of important events and developments. News Quakes are automated alerts that instantly notify users when market moving events happen. This week we saw a listing on Binance for Anchor Protocol. Anytime we're seeing listings on finance, it will most likely pump a token's price, according to historical data. So ANC's price spiked almost vertically following the announcement. Token traded at 157 the minute the news came out. And within the next six hours, that soared to 186. That's an 18.4% increase. Holy smokes. I wish I was on top of that trade. I had my. I was sleeping this week and I didn't catch Anchor Protocol. This was Jordan's project last week on the show, so love to see that stuff. The other token we watched this week was Akash Network trading under the ticker akt. Well, we're going to get into the Vortex Score. Vortex Score is a comparison between its current market and social conditions to those in the past over the last week. Indicators of historically bullish conditions lit up for a cash network twice. So this is a double whammy this week. And so Vortex score of 80 was registered against the price at $2.09 on January 19th. So, Danilo, if you wouldn't mind pulling up the chart here. When you look on the chart, that first red circle. Ten hours later, AKT's price began to climb at 10% hitting $2.30 the next day. AKT's strong vortex score came on January 22, when much of the altcoin market had still been in freefall. So what happened 40 hours later? After the peak score of 89, it became one of the best performing assets from January 24th to the 25th as it rose from $1.57 to $1.82 while most of the alt market was still bleeding. It was a bad week for crypto, but not for Akash Network. So don't forget to drop your comments and why don't we do this while we're at it? Drop your Twitter handles in the chat. We are going to select a winner. One month subscription to this platform Markets Pro. Make sure you drop your Twitter handles in the chat. We're going to pick them at the end of the show. And so if you also just want to get on the platform now we offer we have a 20 discount in the description. So like and subscribe our page so that you get this chance every week. We're giving away one month every single week. That's the cool part about markets pro and the cool part about the market report. All right, folks. Adrian.

Oh, before you come out with the results, I think we need to audit that. I don't think that if you add up the numbers it goes to 100. Somebody's stealing that. The number.

We have 46 total votes today. 46. It was it 46.

The winner got too much votes now.

The winner won. That's what happened.

Manipulation going on here. I know that it's.

Don't be hating that. I got the best marketplace guys. I mean come on. The whole ecosystem not just or I'm on on Tezos. No, there's actually like a whole ecosystem behind it. Gosh.

Come on.

Yeah. You had Theta Drop do some guerrilla marketing this week. Exactly. About a thousand. Yeah. A thousand.

They just said we're gonna be talking about they dropping. The people are like, yeah, that's what we want. I saw you say, well, congratulations.

71 votes.

71 of the viewers today. Yeah. All right. Congratulations to Jordan and Theta Drop. The community showed up today for Theta Drop. We appreciate all the other fans for Rarible and Solana who also showed up today and showed their support for the person. This is not sponsored content closing thoughts. Jordan, I will give you the champions floor for your closing thoughts first today so that you can take it away here. Go ahead.

Crypto's Been crypto this last couple weeks. I mean like, man, ever since I got into crypto, like 2017, up and then down. So I know it's been gotten a little crazy, market's pulling back, but I'm like, this is just crypto. So yeah, like nothing's changed. Long term, folks, just, just relax, deep breath. We're all headed to the promised land. Might just take a little longer than we thought, but it's all good.

Very good. All right, do we want to pick a, a winner here for the Markets Pro subscription? Who is, who is I? I think William. What's his name? I saw him chiming in like all day. William Lotta. Did he drop his Twitter handle in chat?

I don't see any Twitter handles.

Folks. We gotta get your Twitter handles. Race to drop your Twitter handle in the chat. First person may or may not win the the one one subscription of Markets Pro. Ready, set, go. Now, now's the time. Yeah, drop it in there, man.

William, if you want the CT Marcus Pro subscription, give us your Twitter handle.

Drop it in chat. We're gonna DM you on Twitter. No handle. He doesn't need that. Everyone needs.

The biggest question here is who fared better? NFT investors over the past couple of months or crypto investors? That's a good question.

Crypto investors.

Maybe we should answer that on next week.

Down 50%.

Have you seen some of those NFTs?

All right, looks like we got slice of crypto, slice cryptos. I'm gonna pick you as our winner today. Slice cryptos. Drop their Twitter. It's just that easy folks. It's just that easy. Just drop your Twitter. We're just getting poof. One month subscription. Markets pro in your pocket. Love it. We appreciate everyone tuning in today. Like and subscribe coin telegraph on YouTube. Tuesdays 12pm the market report. We love you all. We, we appreciate you jumping in today. Stay tuned for next week's show. We're gonna have a hot debate and we're gonna answer some of those burning questions that you can't get answered anywhere else on the Internet. We love you. Thank you all for tuning in today. This has been the market report. Until next time, take it easy.

See you guys.

It.