Cryptocurrencies And The Bigger Picture That Has Us So Excited

Our job here is to make entrepreneur lives easier, not harder. And I think we might have confused a lot of you who were falling along with our excitement, and that led to excitement to you, because I think we can be like little puppies sometimes. And we're like, oh, my God. Oh, my God. Ball. This is an intro. Intro, intro, intro.

Hustle and Float. Shark with your boy, my boy, Matt Wolf and Joe Fear.

Hey, yo. Hey. Hi. You're here. I think I would like some more organic traffic for our website. Who wouldn'? Yeah, I mean, we have a lot of traffic. Do you think we want more or do you think everyone else would deserve or would like more for their websites as well?

Yeah. Well, I want to know if I can do it for free.

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Hi, we're back.

We are back. And today we're going to be talking about surprisingly web three topics.

Why would we do that?

Because it's all we talk about anymore.

It is. And we're going to approach it differently. We've been reflecting. We've been kind of hot and heavy about it for at least a handful of months, really into it obviously shifted a lot of what we do in our business and our show and all that. And it's. It's been a few months and we're like, let's take a step back here and look at how we've been talking with you guys and basically kind of tell on our side of things. On the web3 side, we noticed that we got a little ahead of ourself. We got a little excited because we were all caught up in the hype.

Yeah. So we kind of determined that we didn't approach the transition quite the way we wanted to. We kind of jumped in and started talking about all this stuff that we're really excited about, all this new stuff, all of this alpha on NFTs and gaming projects. And we just kind of jumped right in, realizing that maybe we haven't brought the audience, you guys, along for the ride a little bit enough. Like, we kind of put ourselves in this bubble of, like, Web three where everybody we were talking to and all the things we're talking about were all, like, Web3 related. And we kind of got in our heads about just kind of thinking that everybody was sort of with us on this stuff. But then inside of the Discord community and some of the people that have been following us for a while, they started asking a lot of questions, and we started going, you know what? Maybe we just kind of, like, jumped a few steps. Maybe we didn't quite bridge the gap into, like, why we're so excited about this and where we're going with it and. And what our bigger intentions are and what we see as the opportunities and all of that kind of stuff. We kind of just jump straight into, like, hey, here's the latest news you should be aware of. But it's, you know, we need to bridge that gap a little bit better.

Yeah. And that's what we've been reflecting on. So we've been listening back to kind of our own stuff. It's weird, but. No, we do that. So we're just kind of keeping a pulse on stuff. And we're like, all right, let's. Let's slow it down for a second. And I also want to revisit what we said months ago when we, before we entered the Web three kind of space and went on this whole deep dive is our job here is to make entrepreneur lives easier, not harder. And I think we might have confused a lot of you who were following along with our excitement, and that led to excitement to you, because I think we can be like little puppies sometimes, and we're like, oh, my God. Oh, my God. Ball. You know, but there's good reason. We're going to actually, in this episode, deep dive into more of the reasons why we've been so excited, because out of this kind of really not hype, but a lot of, like, new stuff for us, it's like, all shiny then, you know, And I think that's where a lot of our excitement got passed along into the show. So we want to slow things down and take a step back and kind of higher up. We're gonna look at some macro stuff on this episode and then dig into why we're so excited on some of the moves and stuff we're talking about here with y'. All.

Fo sho.

So we want to slow it down and in this episode, talk a lot. Well, give some shout outs. Actually, let's get some shout outs to the folks in the Discords, because if you're not in the Discord, you got to be in our discord@hustleandflowchart.com Discord. We made that one easy. So what you're looking at right now are the super Alpha discorder folks in our Hustle and Flowchart Island. Yeah. So if you're not in the island, why wouldn't you want to be on an island? Right? Yeah.

And this. This channel specifically is still kind of.

It's fresh.

It's. It's fresh. And there's only a few people in there. This one's invite only. It's for the. Only the most active members of the community make it into this one.

Him. Holla.

But if you're in our Discord, head over to the Discord and get active. Ask questions in the general chat, jump into one of the topics, you know, the NFT talk, the Anything Web 3 talk, podcasting, traffic, affiliate marketing. Jump in there, ask questions, start interacting in some of these groups. And the ones that interact the most are the ones that we've been slowly allowing into our super Alpha channel, which is. This is the stuff we're paying attention to today, right now, to the moment. Like, this is what we think's really cool, and we're going to be building up that channel over time for our really, really active community members. So that's a pretty cool, exciting thing.

It is. So shout out to some of these folks. Jake from State Farm is in there. Hey, Jake. Farm.

Oh, not State Farm. State Farm Steak Farm.

Yum.

Jake from State Farm is an advertising commercial.

Oh, yeah, can't rewind. Ando. I mean, there's a lot of folks in here that are just awesome. Folks have been listening for a long time. Some new folks that came along because they heard Discord, and people love discord. Sometimes you're the freaks. If you do, it can get very overwhelming. So that's one thing to say about discord.

Well, there's just a lot going on.

There's a lot going on. It's very easy, as you can see on my left hand tab, where there is so much and a lot of things. Look at this. I mean, it's so easy to join these discords because you want to be attached to a project. You want to do your own research, like everyone always says in every crypto video known to man and woman. And that's good. So do your own research. But that quickly can lead to overwhelm, which is another reason why we wanted to bring this up and slow things down. Because we've noticed in our discord that a lot of folks will go on these rabbit ch, you know, these hunts, doing the research. And I think it's a great thing to do. You should. That's how you learn. That's how we learned. But you can quickly suck up a lot of resources and time, maybe get distracted of what you're already doing.

There's a lot of rabbit holes on Discord.

Yeah. So props to all y' all that have made it to discord. Go there. Hustlefluidchart.com Discord. Don't be overwhelmed by discord, but just know you're in the right place.

Yeah.

And engage with us. Say, hey, connect with other folks. Because I would say the smartest of the smarts are right instead of there.

Yes, sir, I do believe everybody get in the discord. I'm in the discord pretty much every single day, answering questions, sharing articles that I'm finding. There's a great community in there, lots going on. And to be honest, I still think we're not even in there as much as we'd like to be in there. So we're going to even up the level. So if you're not in the Discord, get in the discord. But let's, let's jump into some of these cool more macro topics.

I will, Matt. I will. We will. Okay, so macro. What do you mean by macro? Yeah, what you mean is basically why the heck are we doing it from like a 30,000 foot level, let's say, or one of those altitudes? I think what we've been nerding out on, and maybe me more than you, I don't know, but is like, well, no, because in all these masterminds that we're a part of in this crypto stuff and even some. I'm seeing this trending elsewhere. It's some of this talk about just the economic systems and where money's going now. I mean, we're in interesting times with all the markets. And if you're in crypto currently, we're recording this one day before the whole friggin. The markets are basically all red.

Yes.

So there's a lot of people are like, ah. And what the value of knowing more the macro state of things and how things work and how money has worked over the previous years up until now and what could potentially look like, you know, in the future, economically, I think it's really smart to know. Yeah, well, you know, how to like navigate the micros, which is like a downturn in some of the crypto markets. Probably not the bottom, but who knows? Yeah, you know, good.

Yeah. Well, so you have, you've been really paying attention to this dude, Raoul pal.

Right. And you said it perfect.

Did I say.

I think.

Yeah. I'm never quite sure, but Raoul Paul has some. Then I screwed up. But he's got some amazing videos on YouTube. He's got, you know, some amazing podcasts that we've been listening to. And he really focuses on like the whole macro of this world. And one of the ones, I think you, you did a really good breakdown to me before we were recording of like here is kind of like how we got to where we are today, you know, basically from, from Raul's words.

Yeah. This guy here, you can show it on screen. It's on YouTube. I mean there's no like great image. I can really, I don't know, basically look up the metaverse. Is the new solar system. Definitely not what you think it is. Basically what you're gonna get from this is. Oh, you can see I even put a comment here. My jaw is on the floor. Thank you, Raul and Robert. This is one of the most valuable pieces of information I've ever received. It's a true story. Because if you look at all these other things, like this is 30 years of work in one video. Essentially people are just like, holy crap, this is brilliant. And what this guy is breaking down. He's been working in economics for, you know, being. I think he worked for Goldman Sachs for a lot of years. So he saw how banks were working for over 30 years. He's been looking at the history of basically the US economy and how money is flowed around, but also in Europe and now into Asia and stuff. So he basically is like looking at all these trends and he's like, wow, it really boils down to the really having a lot of people all at once. Baby boomers. And that whole period of history, there are wars, there's all this stuff happening. I don't want to get into detail, but what this guy did is he broke down how a lot of these events have these unforeseen circumstances. And that has led to a series of events up until now. And it really started the whole thing. You know, the whole thing happened a lot quicker and you know, especially with debt is when things moved away from gold standard and into fiat. And that happened in other countries around the world. And then slowly but surely now, and maybe quicker than ever, debt is rising like crazy. Yep. And then so the basically what he's figured out is like how money works because there's all these different things that have happened and a bunch more people that you got to support. So then you got to figure out how to support a bunch of like a generation of people moving through. Now, a lot of those folks are obviously retiring. Some of them are working for a long time. Yeah. And. But the resources need to be there to support them. And essentially what this guy said is millennials are not screwed, but they got screw. They got screwed because the baby boomers, no offense to baby boomers, but that's where all the funds got allocated to. And the last of the non fiat funds.

Yeah. So looking at all of this and everything from this perspective, what was his sort of explanation on how cryptocurrencies fit in all this and why cryptocurrencies are kind of the solution, the answer to all of these issues that have arisen.

Yeah. So he went more into essentially looking at all the charts and graphs and he. I cannot replicate his details, of course, but he basically said that the value of your, your assets and currency and all that stuff is never going to rise. Like your wages, your earning potential, or maybe not your potential, but like wages, they're not going up, but other numbers are making it look like it's going up. He basically says other stuff are making that happen. So the whole thing is like, hey, now crypto comes on scene and it's not fiat. You know, there's all these other mechanisms in the blockchain and the fact that there's all these different ways that you can leverage this new technology, but also it gives ownership to everyone. It gives ownership to everyone on the planet. That's why we're seeing so many people in India There's a lot of stories of crazy millionaires that are being made on the back of NFTs or trading or whatever it might be. So essentially he gets into the metaverse and starts talking about how economies are literally built in the most optimum way. So essentially that anything can be built to the best that it can operate in a metaverse like environment because you have no restrictions. You're basically writing the code to be the most efficient thing. So he's like, okay, take anything like an llc. Well, now it's a dao, a decentralized autonomous organization that gives you the ability to do all sorts of cool stuff. And this is where some of the stuff, you know these terms. A dao, yeah, Great terminology to learn and why that's so important, how that will most likely replace a lot of uses for an llc. And then of course, you talk about, I mean, when you talk about currencies, you can have currencies for any kind of community now, you know, so then we talk about creator coins and social tokens. We're going to get into that. So I don't want to keep going down the rabble too much here, but.

Yeah, yeah, yeah, no. And you know, really, I think at the end of the day, so over the years, everybody was just trying to put. Governments were just trying to put band aids on things essentially, right? Like, okay, there's this huge population boom now we have to. We have a lot more people, but the same money supply. So what do we do if the population is so much bigger, but the money supply is the same that it was? Well, you've got to decouple it from the gold standard and you got to start printing more of it so that there's more in circulation. Well, this we all know, leads to inflation and the value of the money not going as far. And we all know that the, you know, the, the wages, like, the wages people earn aren't outpacing inflation. So everybody's money is getting harder and harder to spend. Not harder and harder to spend, but it doesn't go nearly as far. Right. Like, you know, there's this meme that's been going around that's like, things aren't going up in price. There's no inflation. But where the inflation was happening was you look at like a box of cereal from, like two years ago to a box of cereal today, and for the same price, you're actually getting a smaller box of cereal.

You know what? You know where it hit me the hardest, Matt, is when I saw that taco shop down the street, the Mexican food place raised their rates on burritos.

Yes, they did do that.

That hit me right in the heart.

Right in the gut, actually.

Actually, yeah. Right where it hurts the most. Can't hurt the most expensive meat.

Yeah, exactly.

To your point, though, that is.

It is true. It is 100% true. But that's what's happening is you've got this inflation and. And so people's money doesn't go as far as it once did, and now everybody's finding it a little bit hard to live the way that they lived a few years ago, and that gets more and more difficult.

So now the American dream, right? Don't you want the American.

Who doesn't want the American dream other than maybe people not in America?

Well, yeah, speaking about, like, that' American problem, though, right? You know, is like, you want the American dream. Well, guess what? Most people can't afford what their dreams allow them to because they're watching YouTube videos of, you know, people like Mr. Beast or other places giving out fricking loads of cash or buying cool cars, and they're like, crap. Well, got this fat. I got this credit card that I can load up or this loan I can take out government money that I've, you know, like. And then here's the problem. Yep.

And now people are in deeper and deeper debt, and they're going to have to pay this back at some point. And what cryptocurrencies offer through. Well, first of all, it's a hedge against inflation. Right. It doesn't feel like a hedge against inflation when the market is kind of doing this right now, bro. But if you look at it over, what, the last decade, you know, bitcoin at one point was pennies, and right now, as of recording this today, it's hovering around 47,000 from something that started as a few pennies a decade ago.

Right.

So, yes, it's still a hedge against inflation, even with those things. Right. If you. If we can expect it to kind of in the next 10 years, you know, continue to raise at more exponential rates, then I do believe that's a hedge against inflation. So that's one thing it provides. But then you start looking at things like play to earn gaming, you look at decentralized finance, you look at some of these kinds of things, and it's actually offering people opportunities to make their money grow faster than inflation. Where prior, you know, you could put your money in the stock market, and people used to say, you know, it would average 10% per year kind of thing. And you know, some years it was 7%, some years it was 15%, but over the long term, it would be like 10%. Well, you start getting into some of these defi protocols and the safe protocols, the ones that everybody goes, oh, yeah, that's just like the safe one. They're getting 20% yield per year. Right. So you've got these platforms, these defi platforms that give people the opportunity to put their money in and grow faster than they can in the stock market for the most part. Right. There's some exceptions. They could grow faster than if you put it in a savings account. A savings account in the U.S. you're getting what, 5% per year. Like, you put a. You put $1,000 in, and by the end of the year, you make like, you know, a nickel or something stupid. Right. 50 cents maybe. Like, it's just ridiculous. Where you can go look at some of these defi protocols. We were looking at some earlier today that were literally compounding at 10% per day.

That's crazy, y'. All. This is where stuff can get out of hand, mentally down a rabbit hole.

So the ones that sound to be too good to be true would definitely be skeptical, like, oh, yeah, for sure.

Treat that sucker like you're in Vegas or even worse. Yeah, but you know, because it could have. But who knows? I mean, there's a lot of stories of interesting things happen. Defi, really quick, decentralized finance.

Yes.

So that's basically finance, like stock markets and IRAs and you know, all that stuff. Like.

But it's like replacing banks, essentially.

What you.

Like the various vehicles you get from banks where you might put it in a bank and then like, like bonds and, and various loans and stuff like that that you could get from banks. You can actually now get loans through these defi protocols where, let's say you hold like $10,000 worth of Ethereum. You can actually borrow against that asset. So you could borrow, you know, maybe 70% of that value. So you stake $10,000 worth of Ethereum, and that is something that should appreciate over time. And then you can go and borrow against that $10,000 and actually have $7,000 to just put back in your pockets and, and have spending money. And then if you ever can't repay the loan, they can always just liquidate your Ethereum and pay themselves back. Right. But the way a lot of these loans work is there is no payback period. If you want to pay it back five years from now, nobody's ever going to be knocking on your door going, hey, where's our money? The protocols are kind of designed so that you could pay it back when you're able to pay it back, right?

Yeah. And there's a lot of other details about like if you over leverage yourself, you can definitely. Which just happened recently to unfortunately a lot of people. Yeah.

Going back to what you were saying about staking and all that stuff, like this is a lot of the terminology that you might not be following along with. So going back to defi and protocols, if you're just putting that in your mind, like a protocol is kind of like. Yeah, it's an investment vehicle essentially. It has its own mechanisms happening ways that it generates enough funds to, you know, it has a treasury, it has mechanisms to like rebasing basically.

Yeah. I mean there's so many different variables that can like because they don't all have all of those things you said, but some have some and some have others.

And it's like a slew of all this stuff that people have figured out like optimize money essentially and then also hook into all these other components on the Web3 ecosystem or on these blockchains and basically have them all kind of work together. So just like a bank would do with your money. And that's the whole idea is like if you elevate from a bank's way of generating cash that then really doesn't pay you anything to this that has like an endless slew of opportunity. This is why you really got to do your research and all that stuff. But that it offers on the safest like Anchor Protocol. Just want to throw that out. If you look up Anchor Protocol on what the Luna or Terra Luna network, I believe. So if you look up Anchor Protocol, you can see it generates roughly 20ish percent.

I think it's like 19 point something percent.

Yeah. Per year on your money. And that would be like. It's kind of commonly known as like the conservative way to get into defi and really learn about this stuff. But definitely check out Anchor Protocol to kind of see what we're talking about here.

Yeah. But the big macro of all this is that sort of that inflation that's happened and the value of your money going down, down, down. Well, Web three opens up all of these opportunities to make your money grow faster, make your money pound hedge against inflation. It sort of counteracts all of the things that Raul was saying has built up over the last 50 years or whatever it's been.

Yeah. And this is exactly why crypto then like we started to. It's interesting because we didn't start with like the video like that that explained, hey everyone, your money ain't going anywhere unless you do something radically different. And that was part of his thing is like, we got to think, think differently about the problems in front of us. What's your favorite word from Chris Dixon?

Skeuomorphism.

Yeah, so don't be doing no skeuomorphisms on all your. Just everything. Essentially what he was saying is like, hey, you need to apply a different way of thinking with this new way of transacting and creating stuff and exchanging. Not exchanging, but like collaborating on ownership and stuff like that.

Yeah, well, I mentioned Play to Earn or I mentioned Defi, but I also mentioned Play to Earn gaming. And I actually think that's another big opportunity that Web3 brings along because I think it creates this world where people create careers out of gaming. And what I mean by Play to earn gaming is there's a lot of games popping up now where there is an investment to be able to play the game. Right. You've got to spend money on an NFT that's playable in the game or you've got to spend some money on the currency that backs the game. And then once you actually buy in and start playing the game, you can actually earn money on your gameplay. You can actually earn real world currency that you can cash back out. And ideally you, you over time you get your return on the initial investment plus more, and then it becomes this income. You can't really call it a passive income, but it's an income stream that's earned through gaming. And there's games out there like Axie Infinity that are doing this right now. There's a game that my wife and I have been playing a lot lately called Town Star.

Yeah, this Town Star game is. It's like a farmville game where you build, you build like this little farm and you, you can have chickens and you grow sugar cane and you do all this stuff and then you earn money by selling off your crops and then they give you daily challenges of, you know, earn this much money by the end of today and if you earn this much money by the end of the day, you'll earn our token called the Town Token. And the Town Token is a. It's basically a currency that you could find on Coin Market Cap or Coingecko or one of those indexes that lists all of the coins. It's it. You can actually trade it out and get the real currency back. There's some really, really big games that are like in the pipeline, like alluvium, like big time. Like, shoot, I can. I could go on forever naming a whole bunch of games.

But awesome, man. Because I mean, the point you're saying here is like in this game, I brought this up because not a lot of these games or these projects that are claiming they're going to be in game, you know, in game currencies and usable or play to earn. They're not out yet. I mean, but there's some. Axie is out and what there's. I think it's the Philippines, right? Like there's even.

Yeah, people have made full careers out of it in the Philippines and they're.

Transacting in the Axie token as a currency because they're local over there. Local enough where they can actually use that as a freaking currency rather than the local currency or the national currency. So it's wild to start thinking. And this is where it gets into Defi again. Where my brain starts thinking of the connections is like, cool. Well, now you have some thing like Town Star, let's say it's going to have its own economy inside of that thing and it's going to be probably leveraging some defi elements. There's all these.

Well, there's a new term popping up called GameFi now, which is like the, like the Sheep game and the Knights and Dragons game and there's a bunch of like game. They're calling it gamefi because there's a lot of game elements to it. But it's also using elements from Defi where you can buy these game pieces and then you can stake the game pieces and by staking the game pieces you earn some sort of token. And then those tokens are actually redeemable for real world currency or you can trade them into Ethereum or whatever you want.

Right.

So there's play to earn gaming, there's Defi and now there's that sort of crossover of gamefi that we're seeing a lot of lately.

Interesting. Yeah, I was just looking at sheepfi. It doesn't really show much on their website. It's just the interface. So let's slow it down. We're getting a little deep here because I think a page like this will confuse a lot of people. Understandably. So this is the point where. And this. Let's kick it over to your graph actually, because I want to hear your thoughts on adoption rate and the earning potential. It's interesting, but there's a reason why a lot of this stuff looks complicated. Because it is and it's not too complicated once you get into it, but it's not mainstream.

But the fact that it's complicated is where the opportunity lies, correct?

Yeah. So let's pull this chart up really fast. I want you to explain your interpretation.

Yeah. So I was mentioning this Town Star game to Joe earlier and I got my wife set up on it and she's digging it and she's playing it a lot now, too. But I was explaining the process to you of what it takes to actually, like get going on this game, to actually play to Earn. There is like a free demo where you can go and play it in the browser right now, but you're not going to earn anything. It's just going to play the game and there's no rewards or anything you're going to get out of it that I know of. But to actually get into the Play to Earn section, you actually have to own an NFT related to the game, and then you have to own some of their Gala tokens, because Gala is the platform that it's on. And so when I set my wife up for it, I went and went to Coinbase, bought some Gala tokens, transferred the Gala tokens into my Gala account in order to play this game. And then once I transferred the Gala tokens over, I want to go buy this, the first nft, so I can play this game. And then when I went to purchase that, it said, oh, you also need Ethereum in your wallet because of these gas fees. So then I went back to Coinbase, transferred from Ethereum from Coinbase into my Gala wallet, bought this nft, now I own this nft and we can finally fire up the game and start playing, right? That's a lot of freaking steps to get into this game. And I think this is the point where you're trying to make here is that you've got this look at the traditional network effect where as the overall utility and application utility of the project goes up, the number of users goes up as well, and you've got this mass adoption and that's where all the money is made. You have this opposite effect with the more tokenized things where you've got the application utility and I'm kind of reworking this a little bit. So where it says application utility, think of like the ease of, of use of the utility, right? The like. Right now, if you think usability, the.

Usability mainstreamness of this thing, user interface.

The barrier to entry, right? Is a low barrier to entry, right? Well, the. When the barrier to entry is very. Is they're Inverse to the financial utility, the ability to make a lot of money off of it. Right. So as the utility, the financial utility goes down, the playability goes up. Right. So the. Okay, I'm saying this backwards. Right. As the barrier to entry gets easier and easier and easier, the ability to make a lot of money off of it actually operates. Inversely. The more people that are able to get into it, there's going to be sort of that dilution effect that you get with the grander economy right now. Right. The more players that are playing, the less value each individual token might hold in the future. So the best time to get into some of these is when they're really hard to get into because that's when the most money is most likely gonna be made.

Follow. Yeah, man. And that's where getting in early. I mean, yeah, the financial utility. There was something else we were gonna bring up about this too, because, yeah, if you can figure out, and this is where it's really cool, is when you're looking at crypto at the application utility, there's almost everything is impossible to do. Like, if you look at it without like understanding what's the terminology here?

What are the steps? Oh, I need to understand what gas is, what ether or what a wallet is, how to transfer these things. There's a lot of things. So it's really cool to learn one of these processes. Like figure out how to swap a token into a project. Like maybe it's gala to play some games or something else. That's the phase we're in right now. We're in super early adopter phase. I mean, that's what Joel Kahm said that a few months back that we just barely entered it is that early adopter phase. And that's still like a phase or two to mainstream. And it's gonna get there fast. Everything's speeding up. But the whole thing is like figure out how to practice right now on something that just excites you. And there's countless of things. There's something for every single person out there. And so if it's Buy nft. Yeah, cool. Figure out how to do that. Or even better, you can go to something like Rally and go buy, you know, go buy something on there. You know, not financial advice, of course, but like that Rally IO platform. And I'll just pull it up really fast.

Yeah, that's. So Rally I.O. is a creator coin platform where a creator could go and build their own coin on top of the platform. And people trade within this Rally platform form on various creators. If you listen back to our episode we did with Gary Henderson over on the Lads network, you will see like he has a perfect explanation of how Rally Coin works. But essentially you're betting on the growth of various creators and how well these creators will perform and how well these creators are going to cultivate their community and get the community to sort of to rally around them essentially.

Right, that's it. Yeah. And this is Rally. So I mean the beautiful thing with why we love this platform is, you know, we heard it from Gary, one of the most power users on this platform. Like if you look on the list, he's going up fast because he knows how to play it. I mean look at him, he's right here.

Yeah. 1, 2, 3, 4, 5, 6.

One down, over $19. It was like 18 something yesterday. Literally like he just keeps, he's crushing it. So yeah, definitely check out that previous episode. But the beautiful thing with Rally is if we go, Gary, you can actually go in here and then purchase his coin. So Gary is you could buy Gary right here on the page. If you're watching us, you can actually use this. And then like after you create an account is basically you can pay with a credit card so you don't have to use any of this crazy crypto stuff. You know, if you just want to kind of learn how and kind of get a feel for a social token, which is something that Raoul Paul talked about is like something is super bullish on going into 2022 and beyond is social tokens and having a token, a piece of currency around or utility thing that you can actually use within a community of like minded people that are around an influencer, a brand, a cause, a mission, whatever the hell it is.

Yeah, and the great thing about Rally too is it's a great onboarding into the crypto space because you can actually buy right. With a debit card on Rally.

You're selling an NFT and everything right there.

Yeah, you can buy with just regular debit card using your cash, buy some Rally coin and then you're actually in the cryptocurrency now you can actually trade your Rally coin on other platforms. You can, you know, move it to a metamask wallet. You can do whatever you want with this currency once you have it now. But it's actually another, it's an easy on ramp using cash to get into the crypto space.

That's why it was like a cool example here. It's like, okay, you can get really complicated with something like over here for some people, you know, or you can go to a site that actually is trying to go more mainstream. I think I'm really bullish on these rally guys here. These rally guys could be a bunch of rally girls, too. Who knows? But whoever it is, beyond Rally, I think they're doing a smart thing.

Yeah. Somebody that we might get on the show sometime.

I think it'd be really cool. Yeah. I mean, they have some good investors if you're looking into this company. And I mean, a lot of where we are bullish as well is right along with what we're talking about with the social tokens, because we're in talks with Rally right now to get ours, and we should have that soon, it looks like. So that's also going to benefit people in the Discord, so hustleandflowchart.com Discord board. Go there, because that's where we're going to be hooking up most of the people. But we have a cool plan around that. And Rally just seems like a really good way to, I don't know, just kind of create that whole thing. Because, like, if that's really where a lot of folks are going to. I mean, think about, like, influencers, this is what we're talking about. They're controlling the media, and I don't see that changing anytime soon. And this whole opportunity with social tokens and blockchain, it's going to become more mainstream. Well, it's the influencers that are going to bring people there. We already know a bunch of influencers are already in crypto. They might just not have a social token where they can really talk about it or dish it out to their audiences. But that's coming up next year, man.

Yeah. And I think there's a piece of all of this that we've actually. We didn't even put in our outline, but I think it's a big piece for us and it's the marketing piece.

Right.

So we've had so many different conversations with people that are operating in web three people that have, you know, launched NFTs that run their own currencies. We've even talked to people that are developers on, like, the various blockchains and stuff like that. And the recurring theme that keeps on coming up over and over and over again is there's not enough marketers in the space. They're looking for people that know how to do marketing inside of Crypto right now. Right. So like, like artists there. There's tons of artists. Right. Go on OpenSea and look up all of the various generative art projects. That are out right now. You'll find a million projects to invest in if you want to get into art. Right. There's no lack of artists in the this. In this space. There's no lack of developers in this space. What they do lack is once you get a good artist and a good developer together, they don't know how to spread the word. They don't know how to get it in front of a very big audience. And I think that's a piece that we've kind of jumped over and haven't talked about much on this show, is that we've always seen ourselves. Not always, but since we've started, like, really going deep into the Web3 space, we've started to see ourselves as bridging the gap. We can be people who. Who operate better both on the marketing side and the sort of Web3 side and start tying a lot of these worlds together. Gary Vee is doing a really good job of that stuff. Tom Biley is doing a really good job of that stuff as well. And we see our show and the people that listen to us, we see us being the people that can help bridge that gap, that can help bring the people that know the marketing over to the people that know the web 3 but don't know the marketing well. Let's do this right. And I think that's one of the things that we, you know, we're trying to accomplish here. And that's also why I think at the front of the show, we talked about how, you know, we jumped over a few steps. We just started telling you about, you know, yachts being sold in the sandbox, and it's crazy.

Like, we did the shock and awe. Yeah. Not on purpose.

Yeah, yeah. And so now we're kind of like, all right, let's, let's. Let's back off. Let's show the. Let's show the Hustle and Flowchart community. Like, this is where the opportunity lies. If you've got marketing skills because you've been in the digital marketing space for a long time or even, you know, a little while, and you know how to do things like funnels or media buying or SEO or graphic design or websites or any of these kinds of things, that is such needed stuff over in a lot of the web three projects that are going on, they need that marketing help. And so Hustle and Flowchart community, this is the call to action here. This is where the opportunity is going, and let's jump on it. Take these skills that you've been building. You've been honing as an entrepreneur and whatever you're doing as a marketer and let's bring them over to this world and let's, and let's get involved because right now it's where the opportunity lies. Like the timing is everything with this. And you know, the best time to be getting into crypto was, you know, 2010 probably. But the next best time is right fricking now.

Right.

It's not going to get any newer. Right.

Like some of the smartest people that we know are saying that this next three to five years, if you're in crypto and if you understand how to just navigate some of these projects, even at a very minor level, you don't need to have a bunch of money, but you can get into some of this and learn, just learn how it all works. You're gonna, this is gonna be the most important kind of money making wealth generation time in terms of like leveraging brand new technology where everything is pretty much an experiment. But it's insane to like in the discord we post some of these things. Like there's just like people that launch these NFT projects. A lot of the flops are fricking crushing it monetarily. Like there, there's a bunch of people that really don't have the marketing chops. But that's where like if you come in there with marketing chops and maybe chat with network with some of these people, start, start to learn or just like, I don't know, somehow get involved with something for free or maybe start shouting it out if it's a line, figure out how to play the game. Yeah, it's kind of like what we talked about with the creators, you know, like on YouTube. Still a massive opportunity there to work with creators and YouTube. You maybe thumbnail artists or editors, audio, whatever it might be, distribution, repurposing, it's all super true still.

And we don't have to go down this rabbit hole now, but we're seeing the merging of those too. Right? Like that's what I was gonna say.

The overlap is like the freaking epic of all.

Yeah, like I see the creator economy, the YouTubers, the people that are out there putting out like tons and tons of content and then, you know, figuring out how to make their own money on the back of the content instead of going in, you know, working for somebody else to make the content. Like I consider that all part of Web3, like Web3 is people sort of decentralizing from day jobs and moving into these various creator roles. You're Seeing it with streamers, you're seeing with YouTubers, you're seeing it with, you know, play to earn gaming. Like all of this to me is part of the web 3. The creator economy is just all a big piece of it as well. And like you mentioned earlier, like the Mr. Beasts of the world, they are the next big media brands, right?

Yeah.

I mean the current big media brands, we're talking about the next big.

There they are. Yeah. It's just going to be put fire on them.

And they all need marketing help. Everybody.

Everyone does.

Yeah.

Especially in the web3world. And this is such an opportunity. Great call to action, Matt. So I'll leave you with this because this is what Raoul Paul was also saying in a whole separate video what Raul Paul was talking about. And he's most bullish on social tokens for the future and leveraging and probably a lot of other stuff too. But this is just going to make it really mainstream. Is. Is he had this quote that culture is becoming the investment and you're seeing that we actually invested in an NFT with deadmau5 and Portugal, the Man song that they released a couple weeks ago.

And then we played that song on our episode and got censored.

We're freaking owners. So. But the point is like, hey, we invested in them and that's a piece of culture right there. But the whole thing is he was like, think about this. Not universal basic income, but it's universal basic equity that everyone follows a brand or a musician or a group or whatever it is that they would. They are currently investing in probably to buy some swag, but like a hat or merch or whatever it is like now that can all be tokenized with this stuff, you know, so. And that can be a piece of equity. You can actually own a piece of that brand if you're holding a token and exchanging in that. Nice call to action there too. Hit the bell. Bang bang.

So the whole thing is like he's saying this is what's going to unite a lot of people. It's using currencies around a cause, a brand, all that stuff. And there's going to have this kind of value exchange happening within that will want or people want to stay in that group. So that's where a lot of fun stuff's going to happen. It's just like creativeness through the.

Yeah, I mean if you're not familiar, this is like NFTs and a lot of this type of stuff that we've been talking about is brand new to you. You go look at what, what Bored Ape Yacht Club is doing. Go look at what, what, what cryptopunks have done. Go look at what Cyber Kongs have done.

Gary Vee. Yeah.

Go look at V Friends by Gary Vee. All of these projects are sort of like community projects, right? Like, they're. They're built around this community of belonging, the tribalism. Like, I'm part of this tribe. I'm a. I'm a punk. I'm an ape.

Right.

There is, even for a little bit, this whole punks verse Apes kind of like, feud, but. But it was just like the vocal minority, really. I don't think there's much of a few. I think a lot of people actually own both. But there's this thing now where you look at the apes and Post Malone owns an ape. Jimmy Fallon owns an ape.

Right.

Neil Strauss owns an ape and is writing a book about the apes. Right. You get all of these people, I think Steph Curry or someone like that. There's a bunch of basketball players that own apes.

Snoop.

Yeah. It's like you get all these guys. You get all these people that all own this ape. And now everybody goes, oh, I want to be a part of that group. Because if I'm a part of that group, I'm in a group with Post Malone and Jimmy Fallon and, you know, Neil Strauss and all of these guys. Like, I'm in the club with them. And it's really that sort of tribal thing that gets people to these big, big projects. And then Cyber Kongs is almost like the opposite end of the spectrum. That's like. They made it like this investment vehicle thing, you know, where they're actually earning off of their. By holding on to their Cyber Kongs.

Yeah. So won't go down all that now, but, yeah, the whole. It's crazy. Like, I mean, this is just. This is what Matt was talking about here.

Yeah. So the floor price is 54 ETH. So if you were to pop up a calendar, 54 ETH is the floor. So.

So that's a $207,000 floor.

And when we say the floor, the floor basically just means the lowest price they're being sold for. So that's basically the cheapest one you could buy.

Yeah. Right now it's ranked low to high, so that we're looking at you, my friend. This is 53.

We could just clicked on one because it shows it right there on the screen.

So there you go. If you're not familiar with how some.

Of that stuff looks, this jpeg cost $202,000.

That's right, it does. And let's see what it's. Actually, if we look down here, this is where it sometimes gets interesting. You can see it's already sold before for 24. That was a month ago. Go.

So scroll all the way down. Let's see where it started.

Oh God. This is where people are going to get depressed.

So it started at 0.52 eth.

Well, no, that's what someone sold.

Somebody sold it for 52 ETH.

So six months ago.

So that original owner there who sold it six months ago, sold it for the equivalent of.

Look, they flipped it basically 1700 bucks.

They sold it for the equivalent of 1700 bucks. Today it's worth 200,000.

And it was worth a lot less back then. You got to remember that ETH has gone up in price.

That is true.

So you can see like the transaction history of this. And I mean, there's some wild stuff. If you start going down the rabbit hole, you'll start to see, look, now, four months ago it sold for 10 ETH. It's exchanged hands again. Three months ago, 37 ETH. That person made a little margin.

And these are all people that are just like this bored ape. Yacht Club is the club to be in.

I mean, look at this. This is like three months ago, went from 37 to almost 46 ETH. And then now we're at where we're.

Oops, it went down. Somebody sold it for 24. Somebody needed that.

But there were some issues here. It looks like there is an account issue.

Oh, so maybe that was one that got stolen or something. I don't know.

We'll talk about security in another episode because I have some.

That's a big piece.

I have some stuff we could talk about there. But point being is like this is, this is where your mind starts to go to silly places when you start realizing like, holy. Wait, wait, what?

Yeah, they probably bought that eight for a thousand dollars originally and now it's worth 200,000 and like a what, six month window?

Yeah, I mean there's just. And then you start hearing these articles. Like we heard one today that someone mistakenly listed one of their apes for.

$3,000, but the value of it was 300,000.

Exactly.

Missed a couple zeros there.

Sold because it was in the system and the person wasn't paying attention. Close enough, most likely. Yeah. So it's insane. Like in this space, I think there's so many moving parts and you can get easily lost. A lot of people can. Or you might Just not pay attention to a keystroke. You might be distracted and get hacked or fished. I mean, there's like, there's so many things that can happen. So our job to you is to give you our perspective of what we're learning here and try to slow us, ourselves down as much as possible.

You did a good job on that today with this episode when I started talking fast, going, wait, wait, wait, wait, wait, wait. Let's define that shit.

I like to. Yeah, I like to go slow these. And then we're flowcharting.

Well, I think this works. You're the hustle, I'm the flowchart. But I think when I get to talking, I get hustling on my speaking, and you go, wait, wait, let's chill this out. And I think that works. So I'll just keep on flying at a million miles per second. You go, wait, shut up. And then slow me down and then ask me to explain shit. That sounds good. That works for me.

Okay, I'll do that.

So slowing all of us down, we'll keep doing that. But what we also want to do is we're realizing that this pivot into this space was a lot more bold than. Than we thought it was in the fact that we basically shifted everything to then start deep diving research and pretty much consume 98% of our everyday working time on this. And nerding out, having meetings, meeting new people. Point being is now we're connected with some very interesting people in this space that are going to bring the best education to you. And the whole idea is that we want to bring in the smartest people. That some of them have actually already been on the show that we're realizing, wait, hold on. They're in crypto, too. That's a brilliant person. And they have something cool. We gotta bring it back. Yep. So what, we want to use them, not use them. They're educators as well, not just us kind of sharing stuff with you. So we're gonna do a better job at, like, also some of these really cool projects we enjoy. Let's also highlight their expertise, but also have them explain some of these concepts where it just makes it easier on all of us because, yeah, whenever we hear it, even for like, the 50th time, it's like you learn something new.

Oh, yeah, Yeah.

I mean, it's one of those, like, you know, there's no angle that's perfect.

I mean, everybody refers to web3 as the rabbit hole. Right? And it really is a rabbit hole. Every single day, I find something new that blows my mind every day. Like the only days I don't are the days where I'm like not looking. Right. But if I'm kind of reading the articles and checking in on the news, like my mind is blown every single day. And we just got to a point with our podcast that it was like, we know that this is where everything is going. This is the, this is the future. You know, which currencies are going to win out and which ones are going to be the biggest thing in the world and which ones are going to fizzle to nothing. We don't know that as well as anybody else doesn't know that.

Right.

But we know that this technology, this way of thinking, this more community minded way, this, this like let's, let's build tribes and social equity. This feels right, this feels like the future to us.

And I don't think it's far off. Like I know some people are saying, you know, in terms of using some of this stuff in web2 market, you won't call it that, like in digital marketing and all that stuff. Like I feel like it's going to be 20, 22 tokens. These tokens are going to happen. NFTs are going to be a lot more utility based and used in a lot of marketing in general.

Yeah.

And it's going to be a lot more mass adopted. It's just right now we're working out a lot of kinks and there's a lot of, you know, just craziness in the market where I feel like people are kind of tied to all of these. So it's a lot techier than then it will be very, very soon. So get in there and join our Discord. Yeah, join the Discord.

I don't have a call to action button for our Discord yet. I should really get weak.

Yeah, we have the board for it now.

I know.

So man, this was fun. Yeah, I had a good time.

We should do it again sometime.

Let's do it again.

Let's do it on Thursday or something.

Because we have another episode we don't have a guest for yet.

Yeah, we'll just kind of like this is part one and maybe Thursday we'll just kind of continuation on the macro and dive a little deeper on a couple, couple of the micros.

Maybe we'll get some feedback from you. So if you've listened or watched to this episode, go let us know. Discord preferable.

Yeah, go to the Discord. Ask us questions after this episode because even with Joe slowing me down and asking me to define stuff. I'm sure there's still stuff that we both talked over people's heads a little bit. So go to the Discord and ask your questions. And like we've shown in the past, we reward community members who interact. And as the social token comes out, we're only going to be doing that kind of stuff in even more. So make sure you're, you're interacting in the community because we're going to make it, we're going to make it worth it. We're going to, we're going to drop a lot of value and ideally we're going to hook you up with some social tokens in the future once we get that that whole thing played out. And let's not play it out though. Let's not play it out. And so go ask your questions in the Discord. That whole rant was about asking questions in the Discord. And we will answer questions on our.

Next episode, hustle and flowchart.com discord you know what, Matt?

What?

I figured out the cure to boring. What's that? Go to Twitter and find any crypto hashtag that you can find. Uh huh. Not right now, but you know, if you're ever bored, that's how you cure it. Yeah.

What are Some crypto hashtags?

NFT hashtag. NFT hashtag. Crypto hashtag DeFi. You don't need to keep going, man. P2E gaming point is just go to one and you're there forever. So the cure to border is now solved.

Yes.

You're welcome.

Oh, follow us both on Twitter. Matt Rwolf, Joe Fear.

Oh yeah, that's me. Yeah. What other call to action?

We have lots of calls to action, but Discord and Twitter are the two main places, right? Like we're on Twitter a lot. We're never on Facebook or Instagram or any of those places as much.

Twitter's amazing.

Twitter is where we tend to hang out now. I'm Matt Rwolfe on Twitter, he's Joe Fear. On Twitter we curate a lot of like big thinkers and really good thoughts and every once in a while we post some dumb thoughts of our own. But usually we curate the smartest stuff we find.

Sometimes they're rash retweets. Yeah, no, so that happens occasionally. But yeah, go find us there. We have never shouted that out. So great episode. Boom. See you next time. Till next episode.

Thanks so much for tuning into that episode. I hope you dug it. I know Joe and I dug it. I actually kicked Joe out of the room. He's not here right now because I wanted to tell you about a tool that I really, really dig. We use it in our business. We recommend it all the time. It's called Easy Webinar. And it's a tool that lets you do live webinars, automated webinars, hybrid webinars, and, you know, pretty much any other kind of webinar, if there are other kinds of webinars. But anyway, this tool is kind of like your all in one, do it all tool for anything webinar related. It's Easy Webinar. It's put out by a dude named Casey Zieman. He's been on the podcast. If you haven't listened to that episode, it's a killer episode. He's a really smart dude, but his software is amazing. It's, it does everything. It's, you know, the title tells you exactly what it does. It's an easy webinar platform. And we use this in our business to run automated webinars all the time. We don't do a lot of live webinars these days. We like to do the kind of automated webinars where somebody can register and then it, you know, they can either watch it like 15 minutes later or they can watch it the next day, but it's just kind of always running. And it's a system that helps us make autopilot sales off of our webinars. Super, super cool tool. If you haven't tried it yet, you know, it's, it's, it's an amazing tool. And Casey is actually hooking you up. He said for listeners of Hustle and Flowchart, I can't believe he's doing this, but he said for listeners of the Hustle and Flowchart podcast, he's giving 25% off of the membership to use Easy Webinar. It's already super, super inexpensive for what it does and all the cool features it has. But he's hooking you up with 25% off because you're a listener of Hustle and flowchart. Go to easywebinar.com hustle. That's where you can get that 25% off discount. That's easywebinar.com hustole. It's a awesome tool. You're gonna dig it. So just go grab it.

Check it out.

Easywebinar.com hustle. See ya. No, not see ya. You'll hear me in the next show. I don't know. I don't know how to close these things. Go get Easy webinar Talk to you.

Sam.