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Speaker 1: Welcome to the Favorites, the podcast from the Action Network.

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Speaker 1: I am Chad Millman. The biggest bets in the sports

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Speaker 1: world right now are taking place, not in sports books,

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Speaker 1: not amongst friends, not on street corners, in Delhi's in alleys,

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Speaker 1: wherever else sports betting could take place. They're happening on

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Speaker 1: a small, still in beta platform called top Shot. What

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Speaker 1: the bleep is top Shot? We discussed this last week

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Speaker 1: on the show with Darren Ravel and Simon Hunter, and

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Speaker 1: we have an interview with the CEO of top Shot

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Speaker 1: and Darren that's later on in the show. The other night,

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Speaker 1: Darren had the CEO of top Shot on his Buyer's

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Speaker 1: Market show that we do sponsored by eBay, all about

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Speaker 1: memorabilia and sort of the the n f T non

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Speaker 1: fungible token space and sort of how this market is

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Speaker 1: blown up. At that point, the concurrence on his show,

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Speaker 1: we're close to six thousand, six thousand people watching at

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Speaker 1: one time, which is a huge number on Twitter. Uh

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Speaker 1: And our first guest today, our first guest today has

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Speaker 1: already paid the most money ever for a digital highlight

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Speaker 1: on top Shot, and that has already been broken. That

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Speaker 1: record has already been broken, and he is now trying

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Speaker 1: to turn a one thousand dollar investment into a hundred

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Speaker 1: thousand dollars on top shot. He's going to come up

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Speaker 1: in a few minutes, a few minutes. He's also got

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Speaker 1: a great Action Network story. One of my favorite people,

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Speaker 1: one of my favorite former Action Network employees. But first,

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Speaker 1: my co host, my brother from another my bff. You're

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Speaker 1: a wise guy guide to the galaxy that is the

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Speaker 1: wonderful world of betting on sports. Mr Simon Hunter, Hello, Chad,

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Speaker 1: it's going on. Brother. Hey, remember last week when you

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Speaker 1: and Darren were talking and you guys kicked me off

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Speaker 1: afterwards to keep talking about Pokemon cards the show was over,

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Speaker 1: and like, you guys got so into it and the

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Speaker 1: conversation about your Pokemon cards that you guys just had

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Speaker 1: to keep talking on the zoom. Yeah, he was just

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Speaker 1: showing off, you know, Darren is it was a pretty amazing.

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Speaker 1: He's just pulling out his collection of cards he bought.

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Speaker 1: He bought a bunch of cards that are graded one,

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Speaker 1: so it would be like, I mean, he was pulling

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Speaker 1: out cards from like the nineties, forties and fifties. They're

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Speaker 1: so sick. I mean, like Darren, obviously people know Darren collects.

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Speaker 1: His collection is just unreal like he he has he

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Speaker 1: has like the rookie m J. He just has everything.

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Speaker 1: I'm just like, I can't believe you just have this

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Speaker 1: in your house. I keep any good card. I have

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Speaker 1: this for third with ten K. I just keep in

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Speaker 1: a lockbox at the bank. It's like cool to go

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Speaker 1: check out. But I'm just so paranoid about he keeping

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Speaker 1: it around me in my house. But dari was just

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Speaker 1: pulling out the work so it was just hilarious because

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Speaker 1: we're just all right next to his computer, so he's

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Speaker 1: just pulling out thousands of dollars worth the memobilia, like

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Speaker 1: it's just nothing. Imagine being in a zoom meeting with Darren,

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Speaker 1: which I am often, and in the middle of a

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Speaker 1: zoom meeting, he will he will interrupt the conversation that

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Speaker 1: has nothing to do with anything that he's thinking about

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Speaker 1: and start showing the tickets that he's bought to the

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Speaker 1: you know, the nineteen eight miracle on ice game in

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Speaker 1: the middle of nowhere. He'll just like hold it up

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Speaker 1: to the camera as close as you can get and

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Speaker 1: start showing it to people. But I do want to

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Speaker 1: remind people, you know, you and Darren in your ongoing

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Speaker 1: geek Fest love affair. Uh you you mentioned you have

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Speaker 1: a lockbox with all these different Pokemon cards that are

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Speaker 1: going crazy in value, and you and Darren on Thursday

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Speaker 1: night on at Action Network h Q on Twitter, you

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Speaker 1: will be reviewing the Pokemon cards you have in your lockbox,

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Speaker 1: and we will find out Haraldo Rivera style. Of course

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Speaker 1: nobody knows what that is, but rather Revera style, what

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Speaker 1: you have and how much it's worth. How excited are you?

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Speaker 1: What do you think you have? If you find out

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Speaker 1: you have half a million dollars with the cards in

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Speaker 1: that lock box, what are you gonna do with it? No? No,

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Speaker 1: I mean best case scenarios. I was a maniac as

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Speaker 1: a child, so first case you're looking for condition. Um.

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Speaker 1: So the only card I saw because it was flipped

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Speaker 1: over was base Set, which is like the basically first

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Speaker 1: editions came out then second ever released was base Set.

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Speaker 1: So I'm just hoping it's not a box full of

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Speaker 1: like throwaway cards, like cards I put in this box

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Speaker 1: because they were no good back in like twenty years ago,

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Speaker 1: because that would just be hilarious if we do this

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Speaker 1: live bit. And I'm just pulling out basically just pulling

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Speaker 1: out like cards that are just worthless. But I'm gonna

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Speaker 1: I'm pretty sure I'll find something good. Basically when I

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Speaker 1: got these cards, I got a bunch of first edition,

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Speaker 1: a bunch of base so like over the years, just

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Speaker 1: going through my stuff, like stuff I packed from high

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Speaker 1: school and put down the basement, or like stuff my

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Speaker 1: brothers packed up from college or high school and they

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Speaker 1: put in the basement, And I mean, man, I like

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Speaker 1: I found a first edition um Char's art, which is

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Speaker 1: they're going for like K right now. But guess what

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Speaker 1: I did. I wrote s H on the back of

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Speaker 1: the card when I was a little kid because I

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Speaker 1: had cards stolen, so like this is something I did

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Speaker 1: in like third or fourth grade. So that was pretty

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Speaker 1: devastated when I flipped it over and I saw that back.

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Speaker 1: But I've had some good pools so it's made up

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Speaker 1: for it. But that that one, I'm eventually still gonna

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Speaker 1: sell because I still don't think people care, or I'll

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Speaker 1: just keep it as a piece of art, like I'll

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Speaker 1: put it into like a nice little thing the artwork

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Speaker 1: to hang up because it is worth like if it

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Speaker 1: was mint, which it was. Besides my name, and there's

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Speaker 1: a little bit of whiting along corner. The people are

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Speaker 1: buying it right now for three So yeah, pretty sickly

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Speaker 1: when I flipped it over and so my initials, Oh

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Speaker 1: my god, that makes me stick to my stomach. Before

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Speaker 1: we get to our top shot guests, UM, I do

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Speaker 1: want to and people need to know what's going on

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Speaker 1: in top shot. It's insanity yesterday. Uh a top shot

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Speaker 1: digital highlight. So for two hundred eight thousand dollars. Um.

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Speaker 1: So before we get to our top shot guest, I

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Speaker 1: do want to have one quick take. Carson went to

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Speaker 1: the Colts, big news, leaving Philly happy for you. Maybe

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Speaker 1: you care, maybe you don't. Maybe you were you wanted

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Speaker 1: him to stay. Maybe you want Jalen Hurst to be

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Speaker 1: the quarterback. I don't know. You're a Philly fan, Eagles

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Speaker 1: fan did not really move the number. What is your

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Speaker 1: take on Carson went to the Colts and, uh, super

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Speaker 1: Bowl futures. I mean I shifted it from to one

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Speaker 1: to what one? I think? Look, I mean little skills

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Speaker 1: a little bit, so basically from my standpoint, like them

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Speaker 1: in the Dolphins we talked earlier, both teams. I'm invested

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Speaker 1: about two grand each into them to win each on

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Speaker 1: both teams, So it's teams I'm definitely interested in. Um.

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Speaker 1: The Carson Wentz movie is just interesting from every standpoint. Uh,

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Speaker 1: the Eagles just gave up on a guy they claimed

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Speaker 1: was their franchise quarterback exactly a year at this time.

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Speaker 1: They literally just paid them and now they're letting them go.

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Speaker 1: So as an Eagles fan, I have to put faith

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Speaker 1: into Howie Roseman, who I honestly have zero faith in.

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Speaker 1: So I don't know. Maybe it's the right move and

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Speaker 1: Hurts will be good, but just statistically, Hurts is not

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Speaker 1: good and he has flash plays, so maybe he'll work out.

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Speaker 1: He will get better statistically, but right now, just looking

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Speaker 1: on paper, he's not good. But he's a rookie. So

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Speaker 1: I'm gonna throw out last year and I'm gonna give

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Speaker 1: him this next year to really show me what he has.

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Speaker 1: But with Wentz, it's just interesting all around. With the Colts,

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Speaker 1: they're they're literally committed now that they have to pay

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Speaker 1: him this money. So it might work out with They're

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Speaker 1: going to get a great deal if he's good, because

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Speaker 1: they're only paying them about twenty twenty two a year

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Speaker 1: to be their quarterback. And for the upcoming season. I

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Speaker 1: love everything about it. This is a team that's gonna

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Speaker 1: have a ton of cap room, and all these other

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Speaker 1: teams are gonna cap space basically the caps coming down,

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Speaker 1: So these middle tier free agents that would be getting

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Speaker 1: big money, they might end up just going to the

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Speaker 1: Colts for a pretty good deal. Not not what they

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Speaker 1: were going to get before last year. But I just

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Speaker 1: think they're gonna be able to fill in a lot

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Speaker 1: of these holes on this team that doesn't have many holes.

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Speaker 1: So for me, on these early bets, I did I

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Speaker 1: did like that move for them. I'm pretty pretty happy

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Speaker 1: about my early bettlement Colts. All Right, all right, I

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Speaker 1: guess I might have to get him in the cold one. Then, Uh,

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Speaker 1: let's get to our guests. Should we sign up our

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Speaker 1: guest today, Jack Settlement. I can't believe I'm having freaking

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Speaker 1: Jack Settlement on my podcast, Because before Jack was at

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Speaker 1: a million followers on Snap, before he was a big

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Speaker 1: time influencer, before he had a really big podcast, he

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Speaker 1: was just a kid. He was just a kid who

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Speaker 1: was a student at the University of Texas who applied

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Speaker 1: to the Action Network. We were a year old. He

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Speaker 1: wanted to be on our social team, and we fucking

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Speaker 1: hired him. It was his first job out of college,

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Speaker 1: it's like two years ago. And then he was so

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Speaker 1: good we made him the head of all of social

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Speaker 1: and then two weeks later he quit. Two weeks later,

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Speaker 1: right before the NFL season, fucking Judas. He quit on

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Speaker 1: us and I was on vacation. To this day, I

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Speaker 1: believe that Jack quit when I was on vacation because

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Speaker 1: he knew I would convince him to stay and it

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Speaker 1: would keep him from all of his dreams. Uh, Jack, settlement,

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Speaker 1: how are you, buddy, I'm doing well. I was a

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Speaker 1: student at the University of Texas. I did read Chad

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Speaker 1: Melman's book in under twenty four hours to prep for

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Speaker 1: an interview with him. I did do all of those things,

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Speaker 1: So that is true. I appreciate it. And now I'm

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Speaker 1: having you on this very popular podcast True Story. Yesterday,

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Speaker 1: I was on a call with folks from the in

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Speaker 1: a group you know, who are our lead investors at

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Speaker 1: Action Network and UM I mentioned and we were we were.

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Speaker 1: Top Shot had come up and I mentioned I was

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Speaker 1: going to do a top Shot pod today and I

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Speaker 1: subscribed who I was having on the podcast. But I

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Speaker 1: didn't mention your name, and one of the turning guys

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Speaker 1: said to me Jack Settlement, and I was like, yeah,

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Speaker 1: he goes that kid was my neighbor. And now you're

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Speaker 1: a very popular influencer. How the tables have turned uh

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Speaker 1: in thirty seconds or less. Other than your time with

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Speaker 1: Action Network, UM described to people how you became the

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Speaker 1: influencer that you are. Well, I lived two lives. One

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Speaker 1: is on Twitter and that's everyone knows me for top

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Speaker 1: shot betting stuff like that. And then my real company

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Speaker 1: is Snapback Sports, which I built essentially sports Center on Snapchat,

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Speaker 1: which is used to watch an hour of Sports Center

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Speaker 1: on Saturday mornings. Now kids are three three minutes UM

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Speaker 1: and then build out content from that, got onto every

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Speaker 1: single platform and just connecting with the next generation of sports.

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Speaker 1: But like, why did yours work? Everyone's trying to do that.

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Speaker 1: What did you do that worked? I went to where

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Speaker 1: people were not first of all, so everyone's Instagram and Twitter.

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Speaker 1: I went to Snapchat, so first mover advantage there, and

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Speaker 1: then secondly, I think connected with the community. So you

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Speaker 1: see a lot of companies they can build page views,

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Speaker 1: they can build UM viewership, but can they build community

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Speaker 1: and true audience and what social media was supposed to

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Speaker 1: do it was connect us to athletes, and like Lebron

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Speaker 1: was supposed to be replying to other NBA fans, He's

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Speaker 1: never doing that in a million years, whereas I'm actually

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Speaker 1: answering fans back, responding to their opinions. Like Steven A

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Speaker 1: goes on first take, he talks for an hour and

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Speaker 1: then he's not going back and forth with his audience,

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Speaker 1: and I'm actually doing that, and I think they appreciate that.

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Speaker 1: On top of that, sports centers posting through unbiased lens,

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Speaker 1: and sports fans are the most biased fans in the world.

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Speaker 1: It's the reason why, you know, why they're obsessed with

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Speaker 1: these guys. So I'm posting a lot of stuff through

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Speaker 1: a Ravens lens. I went to Uto, so Texas is

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Speaker 1: Back is commonly on the channel, and people troll and

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Speaker 1: it makes people more tuned into the rave. Like when

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Speaker 1: Lamar Jackson through the interception in the first quarter against

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Speaker 1: the Titans, more people tuned into my channel and my

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Speaker 1: reaction than they did for the Super Bowl because they

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Speaker 1: want to be there to see how I post about

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Speaker 1: it and talk about They want to troll me, they

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Speaker 1: want to get excited about it, So I think the

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Speaker 1: true connection with the community is a key Wait wait, wait,

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Speaker 1: wait wait, you just basically said that more people tuned

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Speaker 1: into you after that Lamar Jackson interception in the playoffs

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Speaker 1: then tuned into the Super Bowl. For for for my

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Speaker 1: audience specifically, I'm saying they were more interested in that moment. Yeah, No,

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Speaker 1: I do not. I do not have more viewership than

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Speaker 1: the UH than the Superrule. But I did have my

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Speaker 1: Super Bowl moment, which was I was the only video

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Speaker 1: that filmed the Gatorade shower. Because as my history says,

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Speaker 1: I've worked at the Action Network. I know that's a

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Speaker 1: highly bad prop and I knew to cover that. So

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Speaker 1: I did get a lot on that on that day.

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Speaker 1: And it came full circle Jack because in that moment,

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Speaker 1: UH our story was ranking first on Google for what

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Speaker 1: color was the Gatorade? We had massive amounts of users

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Speaker 1: on the page, and I believe we were using a

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Speaker 1: picture that we might have grabbed from your video. It's

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Speaker 1: it's all good pay back to us. Yeah, exactly. For

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Speaker 1: those songs who didn't listen to the podcast last week,

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Speaker 1: we want to talk a little bit about top Shot,

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Speaker 1: because it really is this risk driven speculative market. It

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Speaker 1: is the equivalent for sports betting, is completely analogous and

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Speaker 1: it basically top shot is a marketplace. You go on

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Speaker 1: line and it offers these digital highlights, you know, five

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Speaker 1: second digital highlights that get encrypted and you can try

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Speaker 1: to get packs UM. Top shot will release new packs,

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Speaker 1: or you can buy individual highlights and you can sell

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Speaker 1: individual highlights in this marketplace. And in this marketplace there

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Speaker 1: are hundreds of highlights, thousands of highlights. Some of them

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Speaker 1: are very rare, some of them are common. They all

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Speaker 1: have different sort of values that are set by the market. Right,

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Speaker 1: so I could go on and try to buy a

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Speaker 1: zach lavine dunk and it could be one price and

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Speaker 1: then twenty four hours later it could be tripled the

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Speaker 1: price and it would happen, and then we're going to

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Speaker 1: get into that. But in the past sixty days, the

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Speaker 1: prices on these things have exploded, and it's been in

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Speaker 1: line with what has been happening in the memory of

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Speaker 1: bil your market, in the crypto market, in the n

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Speaker 1: f T non fungible token market, kind of crypto kitties,

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Speaker 1: which is what started that UM. In the last thirty days,

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Speaker 1: I think there's been sixty three million dollars in trades

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Speaker 1: that have happened yesterday. This is Tuesday. On Monday, I

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Speaker 1: mentioned a Lebron highlights sold for two and eight thousand dollars.

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Speaker 1: Of the ten highest prices paid for top Shot highlights,

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Speaker 1: five have been since February. And Jack, you helped get

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Speaker 1: the ball rolling here. You you either started a market

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Speaker 1: or you have created an industry that will kills sports

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Speaker 1: memorabilia because you paid what was it about, about fifty

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Speaker 1: grand for a lob or Lebron highlight not even a

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Speaker 1: month ago. Explain what happened, Explain the situation, Tell people

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Speaker 1: what you did. So I got into physical cards in March.

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Speaker 1: Really have really I loved it. I love this concept

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Speaker 1: of you know, I came from you guys. Sports betting

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Speaker 1: I love. But it's a zero sum game. So my

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Speaker 1: best example is, like you could have said that Mahomes

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Speaker 1: or Rust Wilson is going to have a great year

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Speaker 1: and bet him for m v P. But even if

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Speaker 1: they finished second, you're left with nothing. So sports cars

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Speaker 1: kind of mitigate that risk. They obviously mitigate the upside

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Speaker 1: as well. So I really dove into cards, investing players.

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Speaker 1: Everyone's always been like oh, I think this rookie is

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Speaker 1: going to be a stud I think this one's gonna

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Speaker 1: be stuck. But you can't put your money where your

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Speaker 1: mouth is unless you bet them to win Rookie of

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Speaker 1: the Year, which in case it's another zero or some games.

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Speaker 1: So I love the concept of them, and then when

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Speaker 1: I got into the logistics of it, that's kind of

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Speaker 1: where my love for it fell off and why top

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Speaker 1: chat replaced it. So I have a bunch of cards

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Speaker 1: right here next to me, and like eighty cards right

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Speaker 1: but I can't sell them individually eBay fees, eBay shipping.

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Speaker 1: I gotta pack them up, I gotta go send them out,

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Speaker 1: I gotta receive do all that stuff. So you can't

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Speaker 1: really trade them. You can only trade them at scale.

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Speaker 1: When top shot came along and I was like, I

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Speaker 1: can I mean, the liquidity, the instant gratification of it all,

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Speaker 1: it makes sense to me. And there's the immediate hurdle

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Speaker 1: of digital ownership. If you can't get over that, then

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Speaker 1: you're never gonna get top Shot. You're not gonna get

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Speaker 1: n F T S. I've been shocked at the amount

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Speaker 1: of people have gotten digital ownership like that. The players

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Speaker 1: get it instantly. Even the older generation, a lot of

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Speaker 1: people are getting instantly. So that's that's a hurdle that

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Speaker 1: has to be you have to overtake, like why can't

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Speaker 1: I just record it on YouTube? Like I get why

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Speaker 1: people say that, But once you figure that out, it's

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Speaker 1: pretty simple. So I hopped in the top shot. I

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Speaker 1: once I finally got it, I really got it, and

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Speaker 1: I was like, this is the future, this is you know,

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Speaker 1: and stuff started to go up. The community was great,

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Speaker 1: and then it got to the point where, um, I

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Speaker 1: was like, this feels like it could hit levels that

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Speaker 1: you know are not there yet. Because their partnered with

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Speaker 1: the n b A, I think the players are going

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Speaker 1: to be into it. They built the model really smart

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Speaker 1: and who better to own than Lebron James. So at

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Speaker 1: the time, I think the biggest sale was thirty five

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Speaker 1: for d k UM. We picked a moment that we

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Speaker 1: thought was the best moment on the platform, which is

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Speaker 1: these moments they're like Lebron has his rookie or has

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Speaker 1: his first moment, which is kind of his rookie card

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Speaker 1: of the platform. It's just a random dunk against the Kings.

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Speaker 1: This other moment from series one is a dunk that's

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Speaker 1: a tribute to Kobe Bryant. So it felt like that's

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Speaker 1: the thing with these cards, Like Lebron's rookie card is

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Speaker 1: just an image of him shooting a fadeaway jumper. It's

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Speaker 1: not actually special. So when people are like, oh, that

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Speaker 1: Lebron duck against the Kings is in a famous play

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Speaker 1: from him, correct, but neither is his rookie card. But

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Speaker 1: I do think you get the added bonus of if

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Speaker 1: you can find the player's first moment and it's a

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Speaker 1: special moment, you kind of got a double there. So

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Speaker 1: we bought the number twenty three serial which matches this jersey,

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Speaker 1: and uh, I genuinely believe if that we wouldn't sell it.

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Speaker 1: I I invested with a bunch of a bunch of

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Speaker 1: friends who got in it for less than a million

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Speaker 1: dollars to Lebron James, Like, I think it's worth more

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Speaker 1: than that already today. But the goal was to sell

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Speaker 1: it to Lebron and it'd be like a cool thing

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Speaker 1: and uh some and I want to let you jump

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Speaker 1: in in case you have a question, but how much

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Speaker 1: did you pay for you? You you paid fifty How

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Speaker 1: how many top shots had you bought at that point

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Speaker 1: and how much how much did you paid for them

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Speaker 1: in total or individually, like what was yours. It's a

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Speaker 1: good question. The tracking of it, because it's digital should

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Speaker 1: be easier, but it's not because some stuff was all

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Speaker 1: in packs and you were just paying nine bucks, fourteen bucks,

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Speaker 1: thirty bucks for packs um. At that point, I forget

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Speaker 1: if I had put more. I went on a little

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Speaker 1: spending spree. I think actually after like I was more convicted.

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Speaker 1: I had more conviction after we made that buy, but

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Speaker 1: previous to it, I would say I put in ten

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Speaker 1: fifteen thousand dollars to it, and it just it just

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Speaker 1: really clicked. And then I was willing to this. I

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Speaker 1: took my bitcoin money. I had made some money off

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Speaker 1: a bitcoin, and I was like, I'm willing to sell

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Speaker 1: a bitcoin to get this moment. And I told my

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Speaker 1: friends about it, went on a couple of calls with them,

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Speaker 1: Like I would have bought it by myself, but I

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Speaker 1: thought would be fun to include other people. So we

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Speaker 1: got other people and spend a little more. But I'm

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Speaker 1: probably in for the same amount I am on physical

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Speaker 1: cards um, but one is returned significantly more. Up to

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Speaker 1: this date, I haven't sold anything so everyone checks my

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Speaker 1: profile and they're like, oh, you made so much money. No,

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Speaker 1: not really, I haven't made any money to this point.

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Speaker 1: Uh so Jack, how old are you? Man? I'm twenty four. God, dude,

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Speaker 1: everyone hates you right now. You're just living the dream. Bro,

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Speaker 1: twenty four years old? Good for you, man. Um, yeah,

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Speaker 1: dude to Basically, I'd knew nothing about it. So Peter

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00:21:01,760 --> 00:21:06,159
Speaker 1: Jennings I think he he posted about it. Um it

385
00:21:06,280 --> 00:21:09,639
Speaker 1: might have been January and I bought like because it

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00:21:09,720 --> 00:21:11,679
Speaker 1: was different then, dude, Like I, I would go on

387
00:21:11,800 --> 00:21:15,000
Speaker 1: and it was easy to buy packs, honestly, Like I

388
00:21:15,040 --> 00:21:16,640
Speaker 1: tried to go along. We did a show last week

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Speaker 1: and I couldn't. I got so frustrated after an hour.

390
00:21:18,840 --> 00:21:20,880
Speaker 1: I was like, alrd, I'm out. This is insane right now.

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Speaker 1: But basically, say I have five packs, and I have

392
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Speaker 1: like a couple of good cards. I have like a

393
00:21:26,320 --> 00:21:31,320
Speaker 1: trade young card. Uh, I have some good ones. What's what? What?

394
00:21:31,320 --> 00:21:33,840
Speaker 1: What's the deal? Like you're viewing it right now? Like

395
00:21:34,000 --> 00:21:36,240
Speaker 1: is someone uh that's obviously you're in it for the

396
00:21:36,280 --> 00:21:39,440
Speaker 1: long term, someone like me? Should I be selling these

397
00:21:39,440 --> 00:21:42,040
Speaker 1: and buying more packs off that? Like because I can't

398
00:21:42,040 --> 00:21:43,600
Speaker 1: pull the money off obviously, Like I know a lot

399
00:21:43,600 --> 00:21:45,960
Speaker 1: of people complain about that. I think they're just doing

400
00:21:46,000 --> 00:21:48,560
Speaker 1: that so people aren't laundering money, and like they want

401
00:21:48,600 --> 00:21:51,560
Speaker 1: to make sure they're checking off money illegally. I get

402
00:21:51,600 --> 00:21:54,240
Speaker 1: all that. Um, I just don't know what to do

403
00:21:54,280 --> 00:21:56,000
Speaker 1: because this is just insane right now, Like yeah, I

404
00:21:56,000 --> 00:21:57,879
Speaker 1: just talking about what you just bought for fifty K

405
00:21:58,600 --> 00:22:01,359
Speaker 1: is no joke. It probably is where right now, which

406
00:22:01,400 --> 00:22:03,479
Speaker 1: is just insane because it was such a short period.

407
00:22:03,520 --> 00:22:05,760
Speaker 1: Like I just wonder how you view this whole thing

408
00:22:05,800 --> 00:22:09,800
Speaker 1: going forward. So I know we're gonna talk about my challenge,

409
00:22:10,000 --> 00:22:14,240
Speaker 1: but um, the overarching theme is I'm so bad at

410
00:22:14,280 --> 00:22:16,600
Speaker 1: time in the market, Like I got pinned as this

411
00:22:16,840 --> 00:22:20,520
Speaker 1: right like like young genius boy, because I put a

412
00:22:20,520 --> 00:22:23,879
Speaker 1: lot of money in and I completely missed when like

413
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Speaker 1: nine out of ten decisions I made, I haven't sold anything,

414
00:22:27,280 --> 00:22:30,840
Speaker 1: so that's been a successful decision. But I thought loading

415
00:22:30,920 --> 00:22:32,520
Speaker 1: up on the studs was going to be the best

416
00:22:32,600 --> 00:22:34,600
Speaker 1: way to do it. It turns out if you had

417
00:22:34,640 --> 00:22:36,840
Speaker 1: just loaded up on all the one dollar, two dollar,

418
00:22:36,920 --> 00:22:38,880
Speaker 1: three dollar moments at all, what I mean, they went

419
00:22:38,920 --> 00:22:42,000
Speaker 1: from three to a hundred two bucks to eighty you know,

420
00:22:42,359 --> 00:22:45,080
Speaker 1: so like, I'm only making two x three extra turns

421
00:22:45,080 --> 00:22:47,199
Speaker 1: on some of these studs because I bought them at

422
00:22:47,240 --> 00:22:49,719
Speaker 1: such a high I thought that the high priced stuff

423
00:22:49,800 --> 00:22:52,440
Speaker 1: and the really scary stuff and the unique stuff would

424
00:22:52,480 --> 00:22:54,919
Speaker 1: be the ones that have value. And I do believe

425
00:22:54,920 --> 00:22:57,240
Speaker 1: in that long term, but in the short term I

426
00:22:57,280 --> 00:22:59,560
Speaker 1: missed on that. And then in the challenge, so the

427
00:22:59,640 --> 00:23:02,520
Speaker 1: challenge was I had seen the crazy return, so I

428
00:23:02,560 --> 00:23:04,840
Speaker 1: was like, I had a thousand bucks in my Dapper balance.

429
00:23:04,920 --> 00:23:08,160
Speaker 1: I was like, I'll try to turn into a hundred k. Jack.

430
00:23:08,320 --> 00:23:12,560
Speaker 1: You just mentioned Dapper Labs. So Dapper owns top Shop,

431
00:23:12,680 --> 00:23:15,760
Speaker 1: which is the company that is creating this marketplace for

432
00:23:15,760 --> 00:23:19,800
Speaker 1: for NBA digital highlights. Later on in the show, Ravel

433
00:23:20,160 --> 00:23:24,520
Speaker 1: did an interview with Rohan Gary Goeslou, who was the

434
00:23:24,560 --> 00:23:27,080
Speaker 1: CEO of Dapper Labs. So, and a lot of the

435
00:23:27,119 --> 00:23:31,120
Speaker 1: stuff that we've mentioned and sort of dropped here, which

436
00:23:31,200 --> 00:23:33,399
Speaker 1: might be hard for people who are hearing about this

437
00:23:33,440 --> 00:23:37,000
Speaker 1: for the first time to really understand, is not being

438
00:23:37,040 --> 00:23:40,320
Speaker 1: able to get your money out, frustration with the platform,

439
00:23:41,040 --> 00:23:45,040
Speaker 1: frustration with with depositing money, frustration with being able to

440
00:23:45,040 --> 00:23:48,560
Speaker 1: buy packs, all those things. Darren like goes pretty deep

441
00:23:48,600 --> 00:23:53,000
Speaker 1: with with Rohan about these things. It's really fascinating interview. Um.

442
00:23:53,600 --> 00:23:57,080
Speaker 1: But one of the reasons I wanted Jack to come

443
00:23:57,119 --> 00:24:00,840
Speaker 1: on is because you mentioned and Simon you mentioned Peter Jennings.

444
00:24:00,880 --> 00:24:02,960
Speaker 1: Just so people know, Peter Jennings is one of the

445
00:24:03,000 --> 00:24:06,080
Speaker 1: co founders of Action. He founded Fantasy Labs. Action was

446
00:24:06,160 --> 00:24:09,840
Speaker 1: formed partially by buying Fantasy Labs and two other companies,

447
00:24:10,280 --> 00:24:12,639
Speaker 1: and so Peter is one of the founders. He was

448
00:24:12,720 --> 00:24:16,000
Speaker 1: early in on top Shot and Jack, you mentioned someone

449
00:24:16,040 --> 00:24:19,560
Speaker 1: had spent thirty five thirty six grand that included Peter

450
00:24:19,640 --> 00:24:21,760
Speaker 1: Jennings and Jonathan Bales, who are two of the co

451
00:24:21,840 --> 00:24:25,919
Speaker 1: founders of Action. So, UM, just a little context for

452
00:24:25,920 --> 00:24:30,440
Speaker 1: for some of this conversation about this incredibly hot speculative,

453
00:24:30,960 --> 00:24:34,840
Speaker 1: high risk market. You're trying to turn a thousand dollars

454
00:24:34,880 --> 00:24:37,359
Speaker 1: into a hundred thousand dollars. How are you going to

455
00:24:37,440 --> 00:24:40,560
Speaker 1: do it? So my first buy was the zach Lavine

456
00:24:40,680 --> 00:24:44,600
Speaker 1: metallic Gold, and I liked the moment. It's one of

457
00:24:44,640 --> 00:24:47,159
Speaker 1: the best plays of his career, and he was I

458
00:24:47,200 --> 00:24:49,240
Speaker 1: was trying to do it quickly. So his next three

459
00:24:49,280 --> 00:24:53,639
Speaker 1: games were in prime time. He played LaMelo Lebron Celtics,

460
00:24:53,680 --> 00:24:56,520
Speaker 1: so It's sold within twine four hours for bucks, so

461
00:24:56,520 --> 00:25:00,600
Speaker 1: I'm like, nicecent return right in twin four hours. Pretty

462
00:25:00,640 --> 00:25:04,040
Speaker 1: much anyone I know would have taken that before before

463
00:25:04,080 --> 00:25:07,080
Speaker 1: this year, right, So I turned that twelve hundred into

464
00:25:07,119 --> 00:25:10,680
Speaker 1: beal and that's the first time that we had seen

465
00:25:10,680 --> 00:25:13,600
Speaker 1: a market correction. So for three weeks it did not sell.

466
00:25:13,720 --> 00:25:19,159
Speaker 1: Everything was down ten um. I held everything throughout and

467
00:25:19,200 --> 00:25:21,760
Speaker 1: then three weeks later I end up checking and it's

468
00:25:21,760 --> 00:25:24,960
Speaker 1: old for sixteen hundreds. So after the fee, I bought

469
00:25:25,040 --> 00:25:27,879
Speaker 1: a Luca don Chech Cool Cats. So one of the

470
00:25:27,920 --> 00:25:31,520
Speaker 1: really cool parts about top Shot is the gamification of it.

471
00:25:31,640 --> 00:25:34,280
Speaker 1: So once again, a lot of people grew up collecting

472
00:25:34,400 --> 00:25:38,520
Speaker 1: sets of baseball cards, football cards, basketball cards, teams who

473
00:25:38,520 --> 00:25:39,920
Speaker 1: were try and get all the players on the team

474
00:25:39,920 --> 00:25:43,359
Speaker 1: from a specific gear. But because it's physical, you can't

475
00:25:43,359 --> 00:25:46,600
Speaker 1: really redeem or reward anything. That's the thing about digital.

476
00:25:46,720 --> 00:25:49,800
Speaker 1: You can actually add in extra moments on top and

477
00:25:49,840 --> 00:25:51,640
Speaker 1: you can build these sets. They do it in video

478
00:25:51,680 --> 00:25:54,440
Speaker 1: games all the time. Top Shots taken advantage. So I

479
00:25:54,520 --> 00:25:58,639
Speaker 1: knew that cool Cat packs were dropping, Cool Cat Master

480
00:25:58,880 --> 00:26:01,399
Speaker 1: Challenge of Lamello, all the hottest rookie on the site

481
00:26:01,440 --> 00:26:03,840
Speaker 1: was coming so, and you had to hold the Luca

482
00:26:04,000 --> 00:26:08,359
Speaker 1: too to get that. So I pay fIF four uh.

483
00:26:08,400 --> 00:26:11,520
Speaker 1: In twelve hours it was up to two grand and

484
00:26:11,560 --> 00:26:13,879
Speaker 1: I was like, I am about to get on a flight.

485
00:26:13,960 --> 00:26:16,240
Speaker 1: I was like, I'm just gonna lock this in once again.

486
00:26:16,440 --> 00:26:21,600
Speaker 1: Thirty three percent profit in twelve hours. Um. So those

487
00:26:21,640 --> 00:26:24,920
Speaker 1: are the first three moves of the challenge. The zach

488
00:26:25,000 --> 00:26:27,560
Speaker 1: lavine is up to nine thousand dollars that I sent

489
00:26:27,640 --> 00:26:31,359
Speaker 1: for twelve hundred, The bill is at fifty hundred, and

490
00:26:31,400 --> 00:26:36,359
Speaker 1: the Luca was up over nine k UH yesterday. I

491
00:26:36,440 --> 00:26:40,000
Speaker 1: am currently after a couple more trades. I gotta Jeremy Grant.

492
00:26:40,040 --> 00:26:43,240
Speaker 1: Grant turned into Ingram. I'm sitting there at about thirty

493
00:26:43,280 --> 00:26:46,760
Speaker 1: three hundred dollars. So my point to Simon was that

494
00:26:46,960 --> 00:26:51,000
Speaker 1: I am really bad at time in the market. Um.

495
00:26:51,040 --> 00:26:55,240
Speaker 1: So I think that you know, diversifying holding the studs. Uh.

496
00:26:55,280 --> 00:26:58,200
Speaker 1: If you're a believer. I'm a big believer in the platform,

497
00:26:58,320 --> 00:27:01,040
Speaker 1: then that's kind of the way to do it. And

498
00:27:01,200 --> 00:27:04,879
Speaker 1: everything has truthfully been going up, which is dangerous and unsustainable.

499
00:27:05,320 --> 00:27:08,639
Speaker 1: But um, trying to time, it's just I've admitted, like

500
00:27:08,760 --> 00:27:12,040
Speaker 1: I can't do it at this point, right, Yeah, Like

501
00:27:12,040 --> 00:27:14,199
Speaker 1: like I've only I'm only like a hundred twenty dollars in,

502
00:27:14,280 --> 00:27:16,320
Speaker 1: Like I bought really good tacks and I got good

503
00:27:16,359 --> 00:27:18,879
Speaker 1: players from it. But yeah, dude, like it's insane to

504
00:27:18,920 --> 00:27:21,320
Speaker 1: think that I turned a hundred dollar investment into tender

505
00:27:21,359 --> 00:27:24,560
Speaker 1: Grand in a month and a half thanks to Peter Jennings.

506
00:27:24,560 --> 00:27:27,959
Speaker 1: But like, I don't know, it's just it's it's one

507
00:27:27,960 --> 00:27:29,920
Speaker 1: of those where literally the only reason I did it

508
00:27:29,960 --> 00:27:32,240
Speaker 1: was because exactly what you said. I said, you know what,

509
00:27:32,320 --> 00:27:34,680
Speaker 1: this could have legs. But like what I said the

510
00:27:34,760 --> 00:27:37,160
Speaker 1: last week to Darren, the reason I put more money

511
00:27:37,200 --> 00:27:40,720
Speaker 1: in is I don't really get the language of the

512
00:27:40,800 --> 00:27:42,800
Speaker 1: contract they had with the n b A. Like my

513
00:27:42,840 --> 00:27:45,639
Speaker 1: whole way is next week we'll see they sign a

514
00:27:45,680 --> 00:27:48,679
Speaker 1: deal with a company that's doing vintage cards, and like

515
00:27:48,760 --> 00:27:50,240
Speaker 1: I have to start getting in all that and like

516
00:27:50,280 --> 00:27:52,719
Speaker 1: we'll just keep spiraling with they'll be more because right

517
00:27:52,720 --> 00:27:54,920
Speaker 1: now they have the whole market. It's one of these

518
00:27:55,000 --> 00:27:57,879
Speaker 1: rare instances where they have a whole market and the

519
00:27:57,920 --> 00:27:59,840
Speaker 1: people who want to spend money, Like we're seeing it

520
00:28:00,080 --> 00:28:02,479
Speaker 1: now that people don't care what prices you're putting up there.

521
00:28:02,480 --> 00:28:04,040
Speaker 1: If they want it, they're going to spend the money

522
00:28:04,080 --> 00:28:06,760
Speaker 1: so that the markets dictated by the customer. So that's

523
00:28:06,760 --> 00:28:08,320
Speaker 1: why it's interesting that you're talking what you're trying to

524
00:28:08,320 --> 00:28:10,920
Speaker 1: build up from a thousand to a hundred thousand. You've

525
00:28:10,920 --> 00:28:12,440
Speaker 1: had a couple of misses, but at the same time

526
00:28:12,520 --> 00:28:15,280
Speaker 1: you have like you've you've turned that money into three

527
00:28:15,359 --> 00:28:17,600
Speaker 1: kN and whatever. It's been a couple of weeks, so

528
00:28:17,640 --> 00:28:20,800
Speaker 1: it's pretty I'll touch on that because that was super

529
00:28:20,840 --> 00:28:23,119
Speaker 1: important for me as well, which is like, what's the

530
00:28:23,200 --> 00:28:25,280
Speaker 1: value of this n f T the second they lose

531
00:28:25,600 --> 00:28:28,320
Speaker 1: a partnership with the n b A And that's kind

532
00:28:28,320 --> 00:28:30,360
Speaker 1: of the beauty of the whole thing and the genius

533
00:28:30,400 --> 00:28:33,800
Speaker 1: behind it that they figured out. Um, there's no official

534
00:28:33,960 --> 00:28:36,560
Speaker 1: number on record, but the belief is so any sale

535
00:28:36,600 --> 00:28:39,600
Speaker 1: in the marketplace you get five percent, right, and Panini

536
00:28:39,920 --> 00:28:43,720
Speaker 1: who gets uh they license from the NBA. Now with

537
00:28:43,760 --> 00:28:45,680
Speaker 1: the sports car boom, you don't think the NBA is

538
00:28:45,720 --> 00:28:49,800
Speaker 1: gonna come to Pannini and ask for way more money nowadays, right,

539
00:28:50,200 --> 00:28:52,080
Speaker 1: And they're not right. They're not going to be able

540
00:28:52,120 --> 00:28:54,760
Speaker 1: to say they have no leverage in that situation, whereas

541
00:28:54,760 --> 00:28:58,200
Speaker 1: with DApp or the five percent fee is allegedly cut

542
00:28:58,200 --> 00:29:01,600
Speaker 1: in half. It's definitely split. It's been confirmed it's split.

543
00:29:01,840 --> 00:29:04,120
Speaker 1: But let's just say for sake of the argument, you've

544
00:29:04,160 --> 00:29:06,000
Speaker 1: got a two and a half percent goes to Dapper

545
00:29:06,080 --> 00:29:08,520
Speaker 1: to an alf percent goes to the NBA. Once again,

546
00:29:08,960 --> 00:29:11,280
Speaker 1: the cut that would then go to the NBA as profits,

547
00:29:11,400 --> 00:29:13,840
Speaker 1: it's not just revenue, it's profits. They don't have to

548
00:29:13,880 --> 00:29:16,600
Speaker 1: do anything. They've licensed it right. So on a fifty

549
00:29:16,680 --> 00:29:19,760
Speaker 1: million dollar day, which they pretty much did yesterday got

550
00:29:19,800 --> 00:29:25,680
Speaker 1: up to mill um, they're taking home about uh seven

551
00:29:25,760 --> 00:29:29,000
Speaker 1: hundred fifty thousand dollars or something ridiculous. And over three

552
00:29:29,440 --> 00:29:31,400
Speaker 1: over a year, if they did that daily, if it

553
00:29:31,440 --> 00:29:34,680
Speaker 1: didn't even continue to grow, obviously the off season will

554
00:29:34,720 --> 00:29:38,520
Speaker 1: have drops, the finals and playoffs will have ups. Let's

555
00:29:38,520 --> 00:29:41,600
Speaker 1: say at averages to fifty million dollars in transaction. Today,

556
00:29:41,840 --> 00:29:45,040
Speaker 1: the NBA is taking home like three, like two hundred

557
00:29:45,120 --> 00:29:49,000
Speaker 1: fifty three hundred fifty million dollars in profits a year.

558
00:29:49,520 --> 00:29:51,880
Speaker 1: So they were a couple of years ago they wanted

559
00:29:51,920 --> 00:29:54,640
Speaker 1: new revenue streams, so they take on sports betting partners

560
00:29:54,640 --> 00:29:57,600
Speaker 1: and they're integrating that. The Caesar's or MGM deal was

561
00:29:57,680 --> 00:30:01,120
Speaker 1: three years for million are now gonna have ten x

562
00:30:01,200 --> 00:30:04,720
Speaker 1: in profits. Uh, it's more friendly for the NBA to

563
00:30:04,800 --> 00:30:08,040
Speaker 1: talk about because it's not gambling play. It's about positive

564
00:30:08,040 --> 00:30:12,520
Speaker 1: player performance instead of potentially some negative some positive. So

565
00:30:12,800 --> 00:30:17,640
Speaker 1: you've now like fully incentivized the NBA too essentially print money,

566
00:30:17,800 --> 00:30:19,840
Speaker 1: and that to me is like they're not giving that

567
00:30:19,960 --> 00:30:23,720
Speaker 1: up for anything. There's no reason to split market share

568
00:30:23,760 --> 00:30:26,920
Speaker 1: and to renegotiate on that um. And then on top

569
00:30:26,920 --> 00:30:29,720
Speaker 1: of that, I think what they're going to do, they're

570
00:30:29,720 --> 00:30:32,400
Speaker 1: gonna incentivize the players. So you take that five percent fee,

571
00:30:32,640 --> 00:30:35,040
Speaker 1: you cut it up, you go two point to two

572
00:30:35,040 --> 00:30:38,760
Speaker 1: point two and point one percent on every transaction and

573
00:30:38,800 --> 00:30:41,360
Speaker 1: give that to the players. So now Lebron James is

574
00:30:41,360 --> 00:30:45,240
Speaker 1: talking about his moments promoting top Shot and every transaction

575
00:30:45,280 --> 00:30:48,080
Speaker 1: on a Lebron moment, he's getting a small cut off

576
00:30:48,120 --> 00:30:51,880
Speaker 1: and he's now monetizing himself and it fully incentivizes the player.

577
00:30:52,080 --> 00:30:54,880
Speaker 1: So you've just got this rocket ship of everyone is

578
00:30:54,960 --> 00:30:57,600
Speaker 1: in it for the for the same reason and it's

579
00:30:57,640 --> 00:31:00,400
Speaker 1: just gonna be printing money you can integrate to the

580
00:31:00,400 --> 00:31:04,200
Speaker 1: games you get. Like that's another thing, is the market cap? Right,

581
00:31:04,240 --> 00:31:07,560
Speaker 1: we we draw comparisons to physical carrds, So you have

582
00:31:07,720 --> 00:31:10,960
Speaker 1: five five point five billion in physical cards, But then

583
00:31:11,000 --> 00:31:13,120
Speaker 1: you can look at sports betting. You've got two twenty

584
00:31:13,160 --> 00:31:16,160
Speaker 1: billion in sports betting. But we can also touch v

585
00:31:16,480 --> 00:31:21,080
Speaker 1: R a R video games, differentiation of a stock market.

586
00:31:21,160 --> 00:31:26,080
Speaker 1: Like there's just so many different possibilities and utility with this,

587
00:31:26,320 --> 00:31:29,120
Speaker 1: and the NBA is fully incentivized to push it over

588
00:31:29,400 --> 00:31:32,000
Speaker 1: virtually everything else. But but you just said what I'm like,

589
00:31:32,040 --> 00:31:35,040
Speaker 1: what I mean is that they're they're getting five percent

590
00:31:35,160 --> 00:31:38,280
Speaker 1: from this company. It's it's we live in a world

591
00:31:38,280 --> 00:31:40,080
Speaker 1: where it's never going to be a monopoly. There's never

592
00:31:40,120 --> 00:31:41,640
Speaker 1: just gonna be one company that does at all, Like

593
00:31:41,680 --> 00:31:44,000
Speaker 1: there's always gonna be competitor. So that's what I'm like

594
00:31:44,040 --> 00:31:46,239
Speaker 1: waiting on to make some movement, Like if I hear

595
00:31:46,240 --> 00:31:48,040
Speaker 1: about a competitor coming, that's what I'm going to sell

596
00:31:48,080 --> 00:31:50,360
Speaker 1: most of my stuff because I want more because like

597
00:31:50,440 --> 00:31:53,200
Speaker 1: we just talked about the websites and crashing, they're they're understaff.

598
00:31:53,280 --> 00:31:54,840
Speaker 1: It's not their fault. They didn't know it's going to

599
00:31:54,920 --> 00:31:59,720
Speaker 1: be like this earlier data exactly, and it's it's just

600
00:31:59,760 --> 00:32:02,920
Speaker 1: one of those where it's like I'm like, I'm trying

601
00:32:02,960 --> 00:32:04,520
Speaker 1: to tell people like I have friends reached out to

602
00:32:04,520 --> 00:32:06,280
Speaker 1: me they want to get in on it. I said,

603
00:32:06,320 --> 00:32:08,880
Speaker 1: don't like, because they're stressing they're not getting packs because

604
00:32:08,880 --> 00:32:10,920
Speaker 1: they keep missing out, or like they get timed out

605
00:32:11,000 --> 00:32:13,200
Speaker 1: or whatever the site won't open and whatever is going on.

606
00:32:13,680 --> 00:32:15,080
Speaker 1: And that's my whole point, like you just said, is

607
00:32:15,120 --> 00:32:17,560
Speaker 1: the NBA is gonna want more revenue streams. They're gonna

608
00:32:17,600 --> 00:32:20,760
Speaker 1: want another flag percent from a different company. So that's why,

609
00:32:20,840 --> 00:32:22,560
Speaker 1: like I'm getting in on it. But I wouldn't like

610
00:32:22,600 --> 00:32:24,880
Speaker 1: people are freaking out and missing missing out these packs

611
00:32:24,880 --> 00:32:26,920
Speaker 1: and everything like that. I just think that, like you're

612
00:32:26,960 --> 00:32:29,160
Speaker 1: talking right now, the long term of this, that's the

613
00:32:29,240 --> 00:32:31,680
Speaker 1: interesting thing to watch because things are gonna start popping

614
00:32:31,760 --> 00:32:38,120
Speaker 1: up here. Simon. You mentioned people freaking out. I'm freaking out, Okay.

615
00:32:38,160 --> 00:32:40,320
Speaker 1: I have tried to buy I have tried to get

616
00:32:40,360 --> 00:32:43,520
Speaker 1: into this market a few different times. And by the way,

617
00:32:43,600 --> 00:32:45,720
Speaker 1: I tried getting in with zach Lavine. I wanted zach

618
00:32:45,800 --> 00:32:48,840
Speaker 1: Levine dunk that about two weeks ago. I think it

619
00:32:48,920 --> 00:32:51,520
Speaker 1: was going for a hundred and fifty bucks. I decided

620
00:32:51,600 --> 00:32:53,120
Speaker 1: the time, like what, I don't even know what I'm

621
00:32:53,160 --> 00:32:56,040
Speaker 1: buying here, Like I didn't know enough. I hadn't researched it,

622
00:32:56,480 --> 00:32:59,160
Speaker 1: and like I didn't hadn't spend time with the marketplace

623
00:32:59,200 --> 00:33:02,680
Speaker 1: at all. And there's a couple of things. One I've

624
00:33:02,720 --> 00:33:06,959
Speaker 1: discovered that I actually like the digital highlights better than

625
00:33:07,040 --> 00:33:10,120
Speaker 1: the physical card. I can watched him over and over again,

626
00:33:10,240 --> 00:33:12,920
Speaker 1: like to me, I watched highlights. I see different things.

627
00:33:12,920 --> 00:33:14,760
Speaker 1: I love it in slow motion. I think the way

628
00:33:14,800 --> 00:33:17,920
Speaker 1: they package it really well. I like sort of that feeling.

629
00:33:18,480 --> 00:33:21,200
Speaker 1: But then I went back and it was going for

630
00:33:21,320 --> 00:33:25,200
Speaker 1: three seven, and it was going for Jack. You mentioned

631
00:33:25,240 --> 00:33:27,600
Speaker 1: it like there was a run where he had he

632
00:33:27,640 --> 00:33:30,120
Speaker 1: was playing like in prime time games. It was three

633
00:33:30,240 --> 00:33:32,200
Speaker 1: seven the night of that Celtics game. I tried to

634
00:33:32,200 --> 00:33:33,680
Speaker 1: buy it in the middle of that game. He was

635
00:33:33,720 --> 00:33:37,400
Speaker 1: going for I think forty, and the marketplace was down.

636
00:33:37,520 --> 00:33:40,280
Speaker 1: It was so frustrating, and I knew by the time

637
00:33:40,320 --> 00:33:42,040
Speaker 1: I woke up, it will come back up at the

638
00:33:42,040 --> 00:33:44,680
Speaker 1: marketplace and the car would be gone. Sure enough, I

639
00:33:44,680 --> 00:33:46,520
Speaker 1: tried to get in the morning. It's already selling for

640
00:33:46,560 --> 00:33:48,719
Speaker 1: six hundred. And then I tried to buy a thirty's

641
00:33:48,760 --> 00:33:52,640
Speaker 1: Young Dung for four hundred. The payment didn't process. It

642
00:33:52,680 --> 00:33:55,760
Speaker 1: didn't process. I tried again. It was now selling for

643
00:33:55,800 --> 00:33:59,520
Speaker 1: six hundred. It's been very frustrating as a consumer, it

644
00:34:00,080 --> 00:34:03,200
Speaker 1: has been, And um, I think it's funny because I

645
00:34:03,280 --> 00:34:06,960
Speaker 1: was earlier and I've actually been put through they call

646
00:34:07,080 --> 00:34:11,399
Speaker 1: them stress tests because the site was crashing so much. Uh,

647
00:34:11,440 --> 00:34:14,520
Speaker 1: there's so many issues. There are still so many issues

648
00:34:14,560 --> 00:34:17,600
Speaker 1: with the site. But once again, there's two sides to

649
00:34:17,640 --> 00:34:20,799
Speaker 1: every coin, right, Like it's it's an extremely frustrating experience.

650
00:34:21,320 --> 00:34:24,480
Speaker 1: And then I always say and look at the demand, right, Like,

651
00:34:24,520 --> 00:34:29,320
Speaker 1: if anyone comes with that experience products out of a hundred,

652
00:34:29,520 --> 00:34:32,800
Speaker 1: they're never coming back. I mean, imagine every time someone

653
00:34:32,880 --> 00:34:35,880
Speaker 1: came to Action Network's website if it was down, you

654
00:34:36,120 --> 00:34:38,919
Speaker 1: would never have people returning. They would go somewhere else

655
00:34:39,239 --> 00:34:42,320
Speaker 1: with top shot that demands. You're so insane, it's insane.

656
00:34:42,360 --> 00:34:47,760
Speaker 1: So uh right now, dude, get me into the market.

657
00:34:47,920 --> 00:34:49,880
Speaker 1: Help me figure out what I'm buying? Like what am

658
00:34:49,920 --> 00:34:52,840
Speaker 1: I looking for? How do I define value? All those things?

659
00:34:53,040 --> 00:34:56,279
Speaker 1: The marketplace is up right now, it's it's functioning, Like

660
00:34:57,920 --> 00:35:00,440
Speaker 1: what am I buying here? You already told you simple.

661
00:35:00,480 --> 00:35:03,200
Speaker 1: You're just looking for the players that are gonna have

662
00:35:03,600 --> 00:35:05,480
Speaker 1: like if you're trying to buy and sell, Like he's doing.

663
00:35:05,520 --> 00:35:08,239
Speaker 1: You're just looking for matchups and like scheduling, so you're

664
00:35:08,239 --> 00:35:11,120
Speaker 1: looking at what players of upcoming primetime games, all these

665
00:35:11,160 --> 00:35:14,359
Speaker 1: different things. Like like his whole point, if you're into this,

666
00:35:14,480 --> 00:35:16,759
Speaker 1: you can make good money right now doing this, if

667
00:35:16,760 --> 00:35:19,480
Speaker 1: you're able to read the market right because like you said,

668
00:35:19,520 --> 00:35:21,200
Speaker 1: if you know when to hold and when to sell,

669
00:35:21,400 --> 00:35:23,279
Speaker 1: this is like crazy how much money you're able to

670
00:35:23,280 --> 00:35:26,480
Speaker 1: make a short amount of time. So I'm definitely with

671
00:35:26,600 --> 00:35:28,359
Speaker 1: him on this that it's it's one of those where

672
00:35:28,360 --> 00:35:30,759
Speaker 1: it's like I have a couple of superstars. I'm in

673
00:35:30,800 --> 00:35:32,520
Speaker 1: no rush to sell it. I'm just gonna hold it

674
00:35:32,560 --> 00:35:34,839
Speaker 1: and let the market dictate itself, because it seems like

675
00:35:35,080 --> 00:35:37,279
Speaker 1: the longer you hold, the more these things keep going up.

676
00:35:37,600 --> 00:35:39,600
Speaker 1: I have a lot of respect for what Simon did

677
00:35:39,880 --> 00:35:42,919
Speaker 1: because even if you don't get it or you don't

678
00:35:42,920 --> 00:35:46,040
Speaker 1: think maybe long term, everyone who was saying it's a bubble,

679
00:35:46,080 --> 00:35:48,480
Speaker 1: it's a pumping dump, Okay, So why wouldn't you just

680
00:35:48,520 --> 00:35:50,640
Speaker 1: get in the pump if that's what you think, and

681
00:35:50,680 --> 00:35:54,319
Speaker 1: then just make money? Like people are funny, So, um,

682
00:35:54,360 --> 00:35:57,239
Speaker 1: what are we looking at? H to Simon's point to

683
00:35:57,440 --> 00:36:01,239
Speaker 1: Chad's question, today the All Star reserves come out. So

684
00:36:01,400 --> 00:36:03,960
Speaker 1: I've been kind of tweeting about how I think that's

685
00:36:03,960 --> 00:36:06,960
Speaker 1: gonna have a nice price movement on some players. So

686
00:36:07,280 --> 00:36:09,319
Speaker 1: if you're sharp, and I think you can use the

687
00:36:09,360 --> 00:36:13,399
Speaker 1: betting nods to actually influence you in these decisions. What

688
00:36:13,440 --> 00:36:16,279
Speaker 1: are Who's a player that maybe the market doesn't think

689
00:36:16,280 --> 00:36:18,279
Speaker 1: it's going to get that All Star nod? It gets

690
00:36:18,280 --> 00:36:21,440
Speaker 1: announced the national TV tonight and then you kind of

691
00:36:21,480 --> 00:36:23,839
Speaker 1: see them. People are like, oh, Ship, he's a really

692
00:36:23,840 --> 00:36:26,360
Speaker 1: good player. And then you go and then his prices

693
00:36:26,400 --> 00:36:31,080
Speaker 1: ten higher. I don't know, you tell me this thing

694
00:36:31,160 --> 00:36:33,560
Speaker 1: is not coming out until later. So like if we

695
00:36:33,600 --> 00:36:36,280
Speaker 1: could look like Genuss, but I could buy it right now?

696
00:36:36,800 --> 00:36:39,319
Speaker 1: What is? So? What's your price range? So I'll give

697
00:36:39,360 --> 00:36:42,200
Speaker 1: people a good example of how I normally do this.

698
00:36:42,239 --> 00:36:44,120
Speaker 1: So people are always like, what do I buy? So

699
00:36:44,160 --> 00:36:45,959
Speaker 1: first of all, you need to give me a price range.

700
00:36:45,960 --> 00:36:49,399
Speaker 1: So I take that price range. I go to the marketplace. Uh,

701
00:36:49,440 --> 00:36:51,840
Speaker 1: there's a tab that says price lowest ask, So I

702
00:36:51,920 --> 00:36:55,400
Speaker 1: typed that in and then I sort by lowest ask descending.

703
00:36:55,480 --> 00:36:59,040
Speaker 1: So that's gonna give you the top moments at that price.

704
00:36:59,120 --> 00:37:02,560
Speaker 1: So give me a price range, and I'll rattle off

705
00:37:02,640 --> 00:37:05,560
Speaker 1: some some moments and we'll talk through them. I have

706
00:37:05,880 --> 00:37:09,719
Speaker 1: UM six hundred dollars in my account right now, so

707
00:37:10,000 --> 00:37:13,000
Speaker 1: I would happily spend that on one or I would

708
00:37:13,080 --> 00:37:16,800
Speaker 1: split it up. Let's say I would do two for okay,

709
00:37:16,840 --> 00:37:19,000
Speaker 1: all right, well let's start it. I mean, I have

710
00:37:19,160 --> 00:37:23,520
Speaker 1: said admittedly that I think UM the best strategy has

711
00:37:23,560 --> 00:37:27,279
Speaker 1: been having multiple moments. I personally try and get as

712
00:37:27,360 --> 00:37:29,799
Speaker 1: many singular moments. You'll see in like a bunch of

713
00:37:29,800 --> 00:37:32,239
Speaker 1: the top accounts they have thousands. I only have a

714
00:37:32,280 --> 00:37:35,800
Speaker 1: little under three hundred. So a couple that that stand

715
00:37:35,880 --> 00:37:39,680
Speaker 1: out to me. Um sa bonus, you can get his

716
00:37:39,840 --> 00:37:43,560
Speaker 1: first moment for six hundred bucks right now. I think

717
00:37:43,640 --> 00:37:47,680
Speaker 1: he could and will squeeze into the All Star reserves today,

718
00:37:47,719 --> 00:37:50,399
Speaker 1: but it is it's not clear this time. There's four

719
00:37:50,480 --> 00:37:54,160
Speaker 1: thousand of those that were ever minted. It's his first

720
00:37:54,239 --> 00:37:59,040
Speaker 1: moment um, so that one's listed. Another another player that

721
00:37:59,080 --> 00:38:03,160
Speaker 1: I think is pretty interesting that six hundred is Draymond Um.

722
00:38:03,200 --> 00:38:05,440
Speaker 1: There's a lot of players out there right now that

723
00:38:05,600 --> 00:38:08,400
Speaker 1: are their careers had it in the wrong direction, and

724
00:38:08,440 --> 00:38:10,920
Speaker 1: I like to talk about them as if they actually

725
00:38:10,960 --> 00:38:16,400
Speaker 1: retired tomorrow with their value increase, Like if Zion retired tomorrow,

726
00:38:16,520 --> 00:38:18,960
Speaker 1: his value would obviously drop off a cliff, but if

727
00:38:19,040 --> 00:38:21,560
Speaker 1: Chris Paul retired, his value would actually go up. If

728
00:38:21,640 --> 00:38:24,239
Speaker 1: Russell Westbrook retired, his value would actually go up. So

729
00:38:24,320 --> 00:38:27,120
Speaker 1: while his plays descending his career as a whole. So

730
00:38:27,239 --> 00:38:29,560
Speaker 1: Draymond is another one of those where I just think

731
00:38:29,600 --> 00:38:32,040
Speaker 1: he's got multiple rings. Everyone knows how great he is,

732
00:38:32,360 --> 00:38:35,520
Speaker 1: and that one there's only fifteen hundred of so he's

733
00:38:35,560 --> 00:38:38,000
Speaker 1: an interesting one. So I'll check you out right now.

734
00:38:38,440 --> 00:38:40,560
Speaker 1: Uh yeah, And he only has three moments on the

735
00:38:40,600 --> 00:38:44,399
Speaker 1: platform and only fifteen hundred in series one, So that's

736
00:38:44,400 --> 00:38:47,160
Speaker 1: actually a really intriguing one because it's first of the

737
00:38:47,200 --> 00:38:51,640
Speaker 1: first um other other potential moments. You've got a de

738
00:38:51,800 --> 00:38:56,960
Speaker 1: Rosan zoobots mellow is right there, another perfect example of

739
00:38:57,000 --> 00:38:59,960
Speaker 1: a player who if he retired tomorrow, would would probably

740
00:39:00,000 --> 00:39:02,839
Speaker 1: ably tick up. People love Carmelo and then you kind

741
00:39:02,840 --> 00:39:05,440
Speaker 1: of count and then the other players in that territory

742
00:39:05,560 --> 00:39:09,759
Speaker 1: are like Zion series to fifteen thousand of them. So

743
00:39:09,800 --> 00:39:12,040
Speaker 1: would you rather own a Series one, which is like

744
00:39:12,120 --> 00:39:14,839
Speaker 1: the rookie card of them on the platform, or would

745
00:39:14,880 --> 00:39:17,759
Speaker 1: you rather own a player like Zion wears potentials through

746
00:39:17,800 --> 00:39:20,359
Speaker 1: the roof. Um, you do have a good I mean

747
00:39:20,360 --> 00:39:23,080
Speaker 1: not a good rookie. You have a rookie in this tier,

748
00:39:23,120 --> 00:39:26,640
Speaker 1: which is Obie Topping. I'm definitely I favor him because

749
00:39:26,640 --> 00:39:29,560
Speaker 1: he's a Nick. But one of the things people aren't

750
00:39:29,640 --> 00:39:32,640
Speaker 1: really accounting for is they haven't even released a bunch

751
00:39:32,680 --> 00:39:34,399
Speaker 1: of the new rookies that are going to come out.

752
00:39:34,440 --> 00:39:36,840
Speaker 1: So Topping could play to night against the Warriors, he

753
00:39:36,880 --> 00:39:39,000
Speaker 1: could score twenties at a career high and that could

754
00:39:39,040 --> 00:39:43,480
Speaker 1: skyrockets a nine bucks. Or they could decide in three

755
00:39:43,560 --> 00:39:46,640
Speaker 1: days they're releasing Emmanuel Quicklyi's moment and now the Knicks

756
00:39:46,680 --> 00:39:50,640
Speaker 1: market is kind of split in half. So, um, those

757
00:39:50,640 --> 00:39:54,480
Speaker 1: are options. Carl Anthony Towns, is there DeAndre Aiden for

758
00:39:54,680 --> 00:39:58,120
Speaker 1: Zingis Kevin Durant? That's a Series two one and there's

759
00:39:58,160 --> 00:40:01,640
Speaker 1: fifteen thousand those tyres Axie. So I think it's it's

760
00:40:01,680 --> 00:40:03,960
Speaker 1: up to you whether you want to go the strategy

761
00:40:04,040 --> 00:40:06,840
Speaker 1: of a major potential play on a Zion or a

762
00:40:06,960 --> 00:40:10,000
Speaker 1: top in or get one of those guys who's you know,

763
00:40:10,120 --> 00:40:16,359
Speaker 1: more solidified in the league. Simon, what do you think? Uhh,

764
00:40:17,520 --> 00:40:19,759
Speaker 1: I mean I like his I like his risk and

765
00:40:19,880 --> 00:40:22,239
Speaker 1: like upside play on, like you trying to get a

766
00:40:22,239 --> 00:40:25,080
Speaker 1: head starting these players get into the All Star Game. Um,

767
00:40:25,080 --> 00:40:27,480
Speaker 1: what I was thinking when you were talking there is, uh,

768
00:40:27,520 --> 00:40:28,960
Speaker 1: what are they what are they going to start doing

769
00:40:28,960 --> 00:40:33,040
Speaker 1: other sports like MLB, NFL like his his top shop?

770
00:40:33,520 --> 00:40:36,359
Speaker 1: Are they Are they getting in on that whole thing? Yeah,

771
00:40:36,440 --> 00:40:39,279
Speaker 1: So Dapper is ink to deal with the UFC, which

772
00:40:39,280 --> 00:40:41,960
Speaker 1: will be a pretty interesting one because it's not team centric,

773
00:40:42,000 --> 00:40:45,560
Speaker 1: it's strictly player centric. That one's been announced. The rumors

774
00:40:45,560 --> 00:40:49,360
Speaker 1: are that the NFL has actually made significant process progress

775
00:40:49,719 --> 00:40:53,560
Speaker 1: with Dapper. Um that one has not been publicly announced

776
00:40:53,640 --> 00:40:56,040
Speaker 1: or is. I do not have confirmation of it, but

777
00:40:56,160 --> 00:40:59,440
Speaker 1: them and the MLB. What's interesting about the NFL being

778
00:40:59,480 --> 00:41:02,520
Speaker 1: a part of it is they've always been so protective

779
00:41:02,520 --> 00:41:05,440
Speaker 1: about the rights. Like NBA has been a free flowing thing.

780
00:41:05,480 --> 00:41:08,840
Speaker 1: They've said, YouTubers used it social media. NFL is protect

781
00:41:08,880 --> 00:41:12,319
Speaker 1: the shield. So for them to take this jump, um,

782
00:41:12,440 --> 00:41:14,759
Speaker 1: I think that they're getting a little pomo on the

783
00:41:14,760 --> 00:41:17,680
Speaker 1: amount of money the NBA is probably reaping in from

784
00:41:17,680 --> 00:41:20,680
Speaker 1: this stuff. And it's it's a good question. Like I

785
00:41:20,719 --> 00:41:23,279
Speaker 1: think what you were saying is other people are going

786
00:41:23,320 --> 00:41:26,440
Speaker 1: to try and do deals with the NBA, NFL, etcetera.

787
00:41:26,680 --> 00:41:29,640
Speaker 1: But does DApp or have a first mover advantage and

788
00:41:29,920 --> 00:41:32,839
Speaker 1: they understand how all this stuff works. They're going through

789
00:41:32,880 --> 00:41:35,080
Speaker 1: all the testing right, Like, you can only plan them

790
00:41:35,120 --> 00:41:39,520
Speaker 1: for so much. So even if you're you're wondering will

791
00:41:39,560 --> 00:41:43,120
Speaker 1: another company work with the league in the next couple

792
00:41:43,120 --> 00:41:45,480
Speaker 1: of years, that's still twenty four months. And with the

793
00:41:45,520 --> 00:41:47,520
Speaker 1: speed of all of this, it might be a safer

794
00:41:47,600 --> 00:41:51,200
Speaker 1: player than maybe maybe you're perceiving. Yeah, because I love

795
00:41:51,239 --> 00:41:53,080
Speaker 1: the idea of the NFL, just like the fact that

796
00:41:53,080 --> 00:41:55,839
Speaker 1: you could have hits and like touchdowns and everything like that.

797
00:41:56,239 --> 00:41:58,520
Speaker 1: Like that's gonna be a really big seller for them,

798
00:41:58,600 --> 00:42:02,440
Speaker 1: especially in the younger kids. Absolutely, I think I'm I

799
00:42:02,440 --> 00:42:04,040
Speaker 1: would like to buy it right now, but I can't

800
00:42:04,080 --> 00:42:06,320
Speaker 1: because they're not allowing transactions. I can look at that,

801
00:42:07,200 --> 00:42:09,759
Speaker 1: but I can't transact anything. Yeah. Really, I'm on here

802
00:42:09,840 --> 00:42:13,760
Speaker 1: right now. Let me Yeah, now, it's it's lockdown right now. Yeah.

803
00:42:14,880 --> 00:42:18,319
Speaker 1: They they're prepping the rumors of that, they're prepping for

804
00:42:18,360 --> 00:42:20,600
Speaker 1: All Star weekend, so they're trying to get as much

805
00:42:20,600 --> 00:42:23,520
Speaker 1: stuff and then the All Star Reserve stuff they expect.

806
00:42:24,320 --> 00:42:27,319
Speaker 1: My guess is that Um, I don't know if you

807
00:42:27,320 --> 00:42:29,680
Speaker 1: watch NBA on T n T, but Adam left Co

808
00:42:29,880 --> 00:42:32,680
Speaker 1: is the host. Adam left Co has gone on Clubhouse before.

809
00:42:32,719 --> 00:42:35,720
Speaker 1: He said that. D Wade Shack Candice Parker well aware

810
00:42:35,719 --> 00:42:37,399
Speaker 1: of Top Shot. That was a couple of weeks ago.

811
00:42:37,800 --> 00:42:42,880
Speaker 1: The thousand dollar purchase was Adam left Co was involved.

812
00:42:43,200 --> 00:42:46,520
Speaker 1: So it would not shock me if tonight was some

813
00:42:46,719 --> 00:42:51,799
Speaker 1: national publicity for NBA Top Shot. Um, and I think

814
00:42:51,800 --> 00:42:55,320
Speaker 1: they may be preparing for that. That would be my guess. Alright,

815
00:42:55,360 --> 00:42:57,680
Speaker 1: so I gotta get some bonus sometime between now and

816
00:42:57,920 --> 00:43:00,799
Speaker 1: NBA on T n T tonight. I basically can't do

817
00:43:00,880 --> 00:43:03,759
Speaker 1: anything else for the next seven hours. I think that

818
00:43:03,920 --> 00:43:06,479
Speaker 1: it'll be up before that. That would be my guess.

819
00:43:06,520 --> 00:43:09,920
Speaker 1: It would be a huge miss for them if it wasn't. UM,

820
00:43:10,000 --> 00:43:12,799
Speaker 1: So I think you'll be good to go. They're using

821
00:43:12,800 --> 00:43:15,000
Speaker 1: these couple hours to kind of fix up the site,

822
00:43:15,080 --> 00:43:17,719
Speaker 1: get it ready. UM, but I think you'll be able

823
00:43:17,800 --> 00:43:19,920
Speaker 1: to go. Sabonus, I think that'll be a fun one

824
00:43:19,960 --> 00:43:22,480
Speaker 1: to look at. Let me look at his price action.

825
00:43:22,600 --> 00:43:24,799
Speaker 1: We are in the middle of a tiny dip, so

826
00:43:24,840 --> 00:43:29,440
Speaker 1: that's good because Sabonus uh three three in the morning

827
00:43:29,920 --> 00:43:33,680
Speaker 1: was selling for seven bucks. So you've got a little

828
00:43:33,719 --> 00:43:36,000
Speaker 1: fifteen percent tip that you're buying into right now. You're

829
00:43:36,080 --> 00:43:39,160
Speaker 1: you're look, you're talking about the dunk the common from

830
00:43:39,200 --> 00:43:44,160
Speaker 1: the base set right now. It's a the serial number

831
00:43:45,080 --> 00:43:48,400
Speaker 1: thirty nine. That's correct. And if you actually what's funny

832
00:43:48,400 --> 00:43:51,560
Speaker 1: about this is we didn't even look at the moment

833
00:43:51,600 --> 00:43:55,400
Speaker 1: itself right before I even decided, Yeah, we looked at

834
00:43:55,440 --> 00:43:57,440
Speaker 1: the player. But if you go click the moment, it's

835
00:43:57,480 --> 00:44:00,280
Speaker 1: actually a poster or dunk. It's it's probably some honus

836
00:44:00,400 --> 00:44:03,600
Speaker 1: this best play of this. Now all of a sudden,

837
00:44:03,600 --> 00:44:05,319
Speaker 1: I have to buy it. If I buy it, I

838
00:44:05,360 --> 00:44:08,960
Speaker 1: am going to be so upset. And that's how that's

839
00:44:08,960 --> 00:44:11,000
Speaker 1: how that that's how this thing is winning. Like that's

840
00:44:11,000 --> 00:44:12,960
Speaker 1: how they're getting peop because people are seeing a number.

841
00:44:13,000 --> 00:44:15,960
Speaker 1: They're saying, oh, it's so much. But like someone like me,

842
00:44:16,120 --> 00:44:18,440
Speaker 1: especially like I have bitcoin two dude, and like I

843
00:44:18,440 --> 00:44:20,799
Speaker 1: don't mind moving bitcoin because I know I always can

844
00:44:20,840 --> 00:44:23,040
Speaker 1: buy more, like I live for by the dip. Like

845
00:44:23,120 --> 00:44:25,439
Speaker 1: that's like literally been my life mode for like three

846
00:44:25,480 --> 00:44:28,719
Speaker 1: years now. But it's one of these things where that's

847
00:44:28,719 --> 00:44:30,879
Speaker 1: why I like, like this whole platform is I'm buying

848
00:44:30,880 --> 00:44:33,600
Speaker 1: it with crypto, Like I like that, I'm buying some

849
00:44:33,680 --> 00:44:36,520
Speaker 1: of the crypto that's also crypto, and it's like like

850
00:44:36,520 --> 00:44:39,400
Speaker 1: you're talking about the younger generation. These are things we like.

851
00:44:39,560 --> 00:44:42,279
Speaker 1: We like, um, we like the crypto movement. If people

852
00:44:42,280 --> 00:44:44,600
Speaker 1: that have crypto like spending all other things that are crypto.

853
00:44:44,680 --> 00:44:46,360
Speaker 1: So that's why I like. Again, I do like the

854
00:44:46,440 --> 00:44:50,160
Speaker 1: legs that this company has. And Chad one of one

855
00:44:50,200 --> 00:44:52,600
Speaker 1: thing you'll love because you're a little older than me.

856
00:44:53,160 --> 00:44:57,759
Speaker 1: Um first been I always have to get that in there.

857
00:44:58,080 --> 00:45:01,920
Speaker 1: There's been uh co firmed reports that they're going to

858
00:45:02,480 --> 00:45:05,200
Speaker 1: um you were talking about Simon the vintage stuff. So

859
00:45:05,400 --> 00:45:08,160
Speaker 1: they only have one set that has ever been vintage

860
00:45:08,200 --> 00:45:10,800
Speaker 1: plays it's called the Running Back Set. But they've actually

861
00:45:10,800 --> 00:45:12,960
Speaker 1: said they're going to release stuff in black and white

862
00:45:13,000 --> 00:45:16,960
Speaker 1: from like George Mike in and and Crazy Ship like that. Um,

863
00:45:16,960 --> 00:45:19,160
Speaker 1: so you'll have the black and white to now untill

864
00:45:19,239 --> 00:45:21,879
Speaker 1: I saw someone talking about like in ten years when

865
00:45:21,920 --> 00:45:24,640
Speaker 1: every NBA game shot in eight K. Well, the four

866
00:45:24,719 --> 00:45:28,440
Speaker 1: K that we're looking at the Lebron now look like

867
00:45:28,440 --> 00:45:31,120
Speaker 1: like men kind of vintage kind of like you know,

868
00:45:31,800 --> 00:45:35,120
Speaker 1: the appeal to the Mickey Mano or the Jordan is

869
00:45:35,160 --> 00:45:37,799
Speaker 1: that it's existed for a long time. You can't mess

870
00:45:37,840 --> 00:45:40,479
Speaker 1: these things up there digital. But if the quality is lower,

871
00:45:40,520 --> 00:45:43,880
Speaker 1: could that actually add value to it? Just just crazy?

872
00:45:44,160 --> 00:45:52,480
Speaker 1: All right? Settlement Top Shot investor, extraordinary influencer, extraordinary snap

873
00:45:52,480 --> 00:45:57,960
Speaker 1: back sports former Action Network genius who turns back on us,

874
00:45:58,280 --> 00:46:01,200
Speaker 1: But that doesn't matter because you know we love them anyways,

875
00:46:01,640 --> 00:46:03,960
Speaker 1: great stuff. I'm super excited to see what happens. I

876
00:46:03,960 --> 00:46:06,279
Speaker 1: want to get my Demontes Sabonis and if it doesn't

877
00:46:06,280 --> 00:46:08,839
Speaker 1: go up, I'm gonna send you a bill. And that's

878
00:46:08,880 --> 00:46:11,320
Speaker 1: totally cool because you can afford it because you've flourished

879
00:46:11,360 --> 00:46:13,839
Speaker 1: since you left us at Action Network in your first job,

880
00:46:13,840 --> 00:46:18,320
Speaker 1: and we were the ones who gave you your first chance. Um,

881
00:46:18,400 --> 00:46:20,680
Speaker 1: thanks so much for coming on the podcast. We want

882
00:46:20,719 --> 00:46:23,640
Speaker 1: everyone to stick around because, uh, like I said, Rivell

883
00:46:23,800 --> 00:46:26,680
Speaker 1: has an interview with Rohan Gara Goslu, who is the

884
00:46:26,680 --> 00:46:30,080
Speaker 1: CEO of Dapper Labs with Jones top Shot. So much

885
00:46:30,080 --> 00:46:33,320
Speaker 1: cool stuff there. Listen to this interview right now, alright,

886
00:46:33,360 --> 00:46:36,680
Speaker 1: and joining us now is Rohem Garra Goeslu, who's the

887
00:46:36,719 --> 00:46:41,680
Speaker 1: CEO of Dapper Labs, the parent company of NBA. Top

888
00:46:41,719 --> 00:46:45,160
Speaker 1: Shot Roehem, how are you? Um? They're awesome, Thank you

889
00:46:45,239 --> 00:46:48,320
Speaker 1: for having me. The last time we talked, your company

890
00:46:48,400 --> 00:46:52,560
Speaker 1: had done like maybe like twenty million total, and now

891
00:46:52,680 --> 00:46:56,640
Speaker 1: you're you've done sixty three million in the last thirty days.

892
00:46:57,160 --> 00:46:59,480
Speaker 1: What happened? I mean, you know, we had we had

893
00:46:59,520 --> 00:47:01,839
Speaker 1: a couple of awesome groups of folks find us. I mean,

894
00:47:01,840 --> 00:47:04,680
Speaker 1: we're still super Early is still about fifty thousand users

895
00:47:04,760 --> 00:47:06,879
Speaker 1: or so, and we've turned off all the marketing while

896
00:47:06,880 --> 00:47:09,239
Speaker 1: our service under the control under control. But you know,

897
00:47:09,320 --> 00:47:11,440
Speaker 1: I think I think a good few thousand of those

898
00:47:11,760 --> 00:47:14,040
Speaker 1: fifty thousand came from you, so so we appreciate it.

899
00:47:14,480 --> 00:47:17,759
Speaker 1: I think some some people also came from the marketplace

900
00:47:17,840 --> 00:47:21,080
Speaker 1: and the realization that first a thirty five thousand dollar

901
00:47:21,160 --> 00:47:24,600
Speaker 1: highlight than a forty seven thousand five highlight and then

902
00:47:24,640 --> 00:47:28,560
Speaker 1: a hundred thousand Why did this happen like this? Obviously

903
00:47:28,960 --> 00:47:34,640
Speaker 1: there's a whole lot of heat around the market crypto memorabilia.

904
00:47:34,840 --> 00:47:38,160
Speaker 1: Is this all part of one world? It's related in

905
00:47:38,200 --> 00:47:40,080
Speaker 1: some ways, But I think top Shot is is a

906
00:47:40,080 --> 00:47:42,919
Speaker 1: breed apart because we're not trying to do a sort

907
00:47:42,960 --> 00:47:45,360
Speaker 1: of big speculative thing. We're trying to build something for

908
00:47:45,360 --> 00:47:48,640
Speaker 1: the long term. And and you know those big headline numbers,

909
00:47:48,680 --> 00:47:51,839
Speaker 1: get the get get the headlines. But majority of top

910
00:47:51,840 --> 00:47:55,320
Speaker 1: Shot transactions and I think half of the dollars are

911
00:47:55,360 --> 00:47:58,560
Speaker 1: in in transactions less than fifty bucks. And that's what

912
00:47:58,680 --> 00:48:01,040
Speaker 1: makes top Shot special because is it brings the best

913
00:48:01,040 --> 00:48:03,680
Speaker 1: parts of trading cards, hoping facts, trading with your friends,

914
00:48:03,719 --> 00:48:05,799
Speaker 1: that sort of thing, but no friction. Right, you can

915
00:48:05,840 --> 00:48:08,520
Speaker 1: sell something that's worth a dollar for a dollar you

916
00:48:08,520 --> 00:48:11,239
Speaker 1: you you pay five cents and fees um and that's it,

917
00:48:11,400 --> 00:48:13,640
Speaker 1: rather than having to you know, figure out posting and

918
00:48:14,080 --> 00:48:16,560
Speaker 1: rating agencies and and all these sorts of things. Yeah,

919
00:48:16,640 --> 00:48:19,200
Speaker 1: there is a huge ramp up to figuring this out,

920
00:48:19,320 --> 00:48:21,680
Speaker 1: especially if you're not in crypto. Right, you said, you

921
00:48:21,760 --> 00:48:25,760
Speaker 1: tell someone, well, it's blockchain, but it's non fungible token,

922
00:48:25,800 --> 00:48:30,280
Speaker 1: which means that you're you don't have to pay in crypto,

923
00:48:30,640 --> 00:48:32,719
Speaker 1: you can pay in dollars. In fact, you might not

924
00:48:32,719 --> 00:48:35,879
Speaker 1: notice it. What you do need to know is that

925
00:48:35,960 --> 00:48:40,080
Speaker 1: it's blockchain by security, right, So that that's the key

926
00:48:40,120 --> 00:48:43,200
Speaker 1: that you tell people, right, Well, I actually try not

927
00:48:43,239 --> 00:48:45,799
Speaker 1: to talk about the blockchain part. I I say what

928
00:48:45,920 --> 00:48:48,480
Speaker 1: you need to do to what you need to have

929
00:48:48,520 --> 00:48:50,640
Speaker 1: to be good at NBA top shot is to be

930
00:48:50,800 --> 00:48:53,960
Speaker 1: good at basketball. You need basketball knowledge. You need trading

931
00:48:54,000 --> 00:48:56,120
Speaker 1: card knowledge. You need to know sort of what's going

932
00:48:56,160 --> 00:48:58,880
Speaker 1: to be valued by collectors. You don't need to understand

933
00:48:58,920 --> 00:49:02,400
Speaker 1: anything about cryptom or blockchain and in fact, you know

934
00:49:02,480 --> 00:49:04,600
Speaker 1: most of our users are now coming in using only

935
00:49:04,600 --> 00:49:07,839
Speaker 1: credit cards. They're not cryptocurrency users UM, and that's that's

936
00:49:07,840 --> 00:49:09,680
Speaker 1: sort of what we like about it. You have to

937
00:49:09,719 --> 00:49:12,160
Speaker 1: have the faith though, in the blockchain, right, because you

938
00:49:12,200 --> 00:49:14,960
Speaker 1: have your own blockchain flow here, so you do have

939
00:49:15,000 --> 00:49:18,120
Speaker 1: to have faith and trust that it is legit and

940
00:49:18,239 --> 00:49:21,880
Speaker 1: one of forty nine is one of forty nine traceable

941
00:49:21,960 --> 00:49:25,000
Speaker 1: to that person specifically, well in a sense. But the

942
00:49:25,000 --> 00:49:27,640
Speaker 1: benefit is you have the transparency of the market and

943
00:49:27,680 --> 00:49:30,120
Speaker 1: so you don't have to believe. You can look at

944
00:49:30,160 --> 00:49:32,560
Speaker 1: at this point six months of trading history and you

945
00:49:32,600 --> 00:49:34,600
Speaker 1: can see that you know, tens of thousands of other

946
00:49:34,600 --> 00:49:37,719
Speaker 1: people are valuing these cards at different prices UM, and

947
00:49:37,760 --> 00:49:40,440
Speaker 1: those prices make sense based on what happens in the

948
00:49:40,480 --> 00:49:44,040
Speaker 1: real world. It's a dynamic market where there's clearly sort

949
00:49:44,080 --> 00:49:47,799
Speaker 1: of now transparency and market history. UM. Now that transparency

950
00:49:47,800 --> 00:49:50,200
Speaker 1: and market history is all because of the blockchain, because

951
00:49:50,239 --> 00:49:52,719
Speaker 1: it's you know, nobody can can actually hide any of

952
00:49:52,719 --> 00:49:55,280
Speaker 1: that information. But you know, there's a half a dozen

953
00:49:55,320 --> 00:49:58,440
Speaker 1: websites now where you can analyze different aspects of your

954
00:49:58,440 --> 00:50:01,040
Speaker 1: account and and all these things, and so people don't

955
00:50:01,080 --> 00:50:02,799
Speaker 1: need to know it's on blockchain. They can just get

956
00:50:02,800 --> 00:50:05,200
Speaker 1: the benefits of it. Most of our users sort of

957
00:50:05,200 --> 00:50:07,000
Speaker 1: think of them as just trading cards. So you don't

958
00:50:07,000 --> 00:50:09,120
Speaker 1: own the rights to the photo on the car. Do

959
00:50:09,160 --> 00:50:11,000
Speaker 1: you own the card? And in this case you own

960
00:50:11,040 --> 00:50:13,640
Speaker 1: the top shot? You don't. You don't own the underlying video.

961
00:50:14,080 --> 00:50:16,640
Speaker 1: You know, you're still technically in beta while doing sixty

962
00:50:16,680 --> 00:50:19,839
Speaker 1: three million in revenue over thirty days, So how are

963
00:50:19,880 --> 00:50:21,760
Speaker 1: you How are you doing the whole kind of push

964
00:50:21,840 --> 00:50:25,560
Speaker 1: pull of being in beta testing and at the same

965
00:50:25,600 --> 00:50:29,120
Speaker 1: time being as mature as you've become. Um To be clear,

966
00:50:29,160 --> 00:50:31,920
Speaker 1: the sixty three million is actually pure to pure trading

967
00:50:32,000 --> 00:50:33,919
Speaker 1: between players. Our revenue over that period has been about

968
00:50:33,960 --> 00:50:36,600
Speaker 1: ten million bucks. But you know still that the primary

969
00:50:36,680 --> 00:50:40,720
Speaker 1: sales of packs, sales of packs plus the transaction fee

970
00:50:41,040 --> 00:50:44,080
Speaker 1: on the marketplace, which gives the NBA kind of you know,

971
00:50:44,120 --> 00:50:47,600
Speaker 1: a long tail revenue stream from sort of secondary sales,

972
00:50:47,680 --> 00:50:50,799
Speaker 1: which they don't have on traditional trading cards. As long

973
00:50:50,840 --> 00:50:54,360
Speaker 1: as it happens on the marketplace, they keep getting secondary

974
00:50:54,400 --> 00:50:57,320
Speaker 1: sales money correct as well as the players. Yeah, absolutely,

975
00:50:57,400 --> 00:50:59,279
Speaker 1: as well as the players. Yeah, because it's counted as

976
00:50:59,560 --> 00:51:02,880
Speaker 1: as bad a coople related income. So on Monday, you

977
00:51:02,960 --> 00:51:05,720
Speaker 1: have you're gonna put out these packs, these thirty packs

978
00:51:05,719 --> 00:51:07,839
Speaker 1: are so then you push it back, Then you push

979
00:51:07,880 --> 00:51:10,920
Speaker 1: it back. How patient are people? People are not patient?

980
00:51:11,000 --> 00:51:12,680
Speaker 1: But you know, I get it, Like this is this

981
00:51:12,760 --> 00:51:15,319
Speaker 1: is people's money. We we respect that. And it's not

982
00:51:15,360 --> 00:51:17,560
Speaker 1: just their money, it's their fandom. Like people are emotional

983
00:51:17,560 --> 00:51:20,319
Speaker 1: about their sport. They're emotional about you know, they're they're

984
00:51:20,320 --> 00:51:22,840
Speaker 1: the things are passionate about. So so I totally get it.

985
00:51:22,880 --> 00:51:25,480
Speaker 1: I mean, we're doing our best in terms of messaging

986
00:51:25,520 --> 00:51:28,080
Speaker 1: and saying hey we are Invada. These kinds of problems happen.

987
00:51:28,120 --> 00:51:30,360
Speaker 1: When problems happen, we try to make it up to folks.

988
00:51:30,400 --> 00:51:33,480
Speaker 1: We air dropped a gift pack to every user that

989
00:51:33,480 --> 00:51:36,359
Speaker 1: that had had been active on the marketplace and had

990
00:51:36,400 --> 00:51:39,360
Speaker 1: moments in their accounts. So we're and because we're not

991
00:51:39,400 --> 00:51:41,239
Speaker 1: out of VATA, we're gonna keep doing things like that.

992
00:51:41,360 --> 00:51:44,360
Speaker 1: So I'm very confident people are going to be happy

993
00:51:44,400 --> 00:51:46,759
Speaker 1: when sort of all all said and done. But emotions

994
00:51:46,840 --> 00:51:49,040
Speaker 1: run high, um, and we're just trying to do our

995
00:51:49,040 --> 00:51:51,800
Speaker 1: best to be empathetic and um at my level, to

996
00:51:51,840 --> 00:51:54,719
Speaker 1: also support my team because you know, are the team

997
00:51:54,760 --> 00:51:57,040
Speaker 1: is the most important thing to us. And uh, you know,

998
00:51:57,040 --> 00:51:58,759
Speaker 1: it's a lot of pressure to deal with. But I

999
00:51:58,800 --> 00:52:00,799
Speaker 1: think you know, we totally get it, Like it's it's

1000
00:52:00,800 --> 00:52:02,600
Speaker 1: important to people. Were in it for the long haul

1001
00:52:02,640 --> 00:52:05,120
Speaker 1: and we're gonna get people's trust and then we're gonna

1002
00:52:05,200 --> 00:52:07,120
Speaker 1: keep it. But I gotta say, like the other part is,

1003
00:52:07,160 --> 00:52:09,520
Speaker 1: you know, we're overwhelmed on support. We've ten x to

1004
00:52:09,600 --> 00:52:13,040
Speaker 1: support team. We're overwhelmed on uh you know, just sort

1005
00:52:13,080 --> 00:52:15,560
Speaker 1: of the identity checks and things like that. But you know,

1006
00:52:15,719 --> 00:52:17,719
Speaker 1: it's not our first business, it's not our team's first

1007
00:52:17,719 --> 00:52:20,440
Speaker 1: time we're together. We we know what we're doing, and um,

1008
00:52:20,480 --> 00:52:23,439
Speaker 1: we're getting a handle around it. What is the future? Here?

1009
00:52:23,640 --> 00:52:26,320
Speaker 1: Is the n B restricted anyway? Can you just drop

1010
00:52:26,440 --> 00:52:28,880
Speaker 1: a pack you know with a one of one or

1011
00:52:29,000 --> 00:52:32,320
Speaker 1: one of three? Yeah, we have um one of threes

1012
00:52:32,600 --> 00:52:35,240
Speaker 1: and one of one's minted. There's one hundred and fifty

1013
00:52:35,280 --> 00:52:38,320
Speaker 1: total one of ones. They're actually the hundred fifty first

1014
00:52:38,320 --> 00:52:40,920
Speaker 1: tokens minted on the Flow blockchain, even before the Flow

1015
00:52:40,960 --> 00:52:43,759
Speaker 1: token are the hundred fifty one of ones um, And

1016
00:52:43,800 --> 00:52:45,879
Speaker 1: so it's just a question of when we release those.

1017
00:52:45,920 --> 00:52:47,520
Speaker 1: We kind of wanted to be out of beta so

1018
00:52:47,520 --> 00:52:50,200
Speaker 1: they're more more accessible to sort of everybody. UM. And

1019
00:52:50,239 --> 00:52:52,080
Speaker 1: then the three of three's, we also want to make

1020
00:52:52,120 --> 00:52:53,759
Speaker 1: sure like the player gets a piece of it. So

1021
00:52:53,800 --> 00:52:56,120
Speaker 1: how cool it would it be if if every player

1022
00:52:56,239 --> 00:52:59,160
Speaker 1: got one of their one of three's, effectively becoming a

1023
00:52:59,200 --> 00:53:01,040
Speaker 1: two of two. Source are thinking through what are the

1024
00:53:01,080 --> 00:53:03,960
Speaker 1: mechanics there? And our packs the right way? Are auctions

1025
00:53:04,000 --> 00:53:07,640
Speaker 1: the right way? Um? Many long term collectors prefer auctions,

1026
00:53:07,880 --> 00:53:10,360
Speaker 1: whereas you know, packs are sort of a hoping for

1027
00:53:10,440 --> 00:53:13,200
Speaker 1: a Lebron kind of moments sometimes, so where we're still

1028
00:53:13,400 --> 00:53:15,960
Speaker 1: investigating the best way to do that. How big of

1029
00:53:16,000 --> 00:53:19,560
Speaker 1: a moment is it for you that that Heritage Auctions

1030
00:53:19,560 --> 00:53:23,560
Speaker 1: and Golden Auctions have each put a highlight up for

1031
00:53:23,640 --> 00:53:27,600
Speaker 1: auction in there, you know, legitimate auction. I mean that

1032
00:53:27,800 --> 00:53:31,440
Speaker 1: to me, it seems like that happened way faster than

1033
00:53:31,480 --> 00:53:33,879
Speaker 1: I thought it would, that a digital highlight is being

1034
00:53:33,920 --> 00:53:37,680
Speaker 1: sold in a very physical auction marketplace. Yeah, I mean,

1035
00:53:37,719 --> 00:53:39,480
Speaker 1: I think it's super cool. We love those guys, and

1036
00:53:39,840 --> 00:53:41,880
Speaker 1: I think that that I think there's so much potential

1037
00:53:42,000 --> 00:53:46,040
Speaker 1: for collaboration or like drops that that crossover physical and

1038
00:53:46,520 --> 00:53:49,200
Speaker 1: digital memorabilia. But I don't think I'm I was surprised.

1039
00:53:49,239 --> 00:53:51,520
Speaker 1: I mean, we we did a Christie's auction back in

1040
00:53:52,360 --> 00:53:56,239
Speaker 1: for a crypto kitty like it's it's impossible to bet

1041
00:53:56,239 --> 00:53:59,600
Speaker 1: against digital. People are starting to understand that what is

1042
00:53:59,640 --> 00:54:03,560
Speaker 1: it lie on the inside outside pressure? Are you sleeping?

1043
00:54:03,600 --> 00:54:08,000
Speaker 1: Are you eating appropriately? Sleep deprived as I think how

1044
00:54:08,000 --> 00:54:10,720
Speaker 1: I would describe it. You know, it's been super exciting obviously,

1045
00:54:10,840 --> 00:54:12,560
Speaker 1: you know, we waited a long time for this moment.

1046
00:54:12,600 --> 00:54:15,839
Speaker 1: We worked super hard for for for this moment. So um,

1047
00:54:15,880 --> 00:54:18,600
Speaker 1: we're working hard trying to you know, both capitalize but

1048
00:54:18,640 --> 00:54:21,839
Speaker 1: also sort of deliver on customer expectations. So yeah, all

1049
00:54:21,920 --> 00:54:24,200
Speaker 1: kinds of people are calling me from obviously all the

1050
00:54:24,239 --> 00:54:26,640
Speaker 1: major sports, leaked to every celebrity you can think of,

1051
00:54:26,960 --> 00:54:28,759
Speaker 1: and we're just trying to do, you know, the right

1052
00:54:28,800 --> 00:54:32,360
Speaker 1: thing for our users and trying to prioritize really because

1053
00:54:32,640 --> 00:54:35,000
Speaker 1: I think we're at the very earliest stages of what

1054
00:54:35,120 --> 00:54:38,840
Speaker 1: digital assets can do. Most people still don't understand the

1055
00:54:39,000 --> 00:54:41,719
Speaker 1: huge sort of long term potential here. They see the

1056
00:54:41,760 --> 00:54:44,440
Speaker 1: dollar signs and so where where all of this is

1057
00:54:44,480 --> 00:54:47,440
Speaker 1: taking us is assets that you know are owned by

1058
00:54:47,480 --> 00:54:49,960
Speaker 1: the people that pay for them. You know, software that

1059
00:54:50,080 --> 00:54:51,840
Speaker 1: is controlled by the people that use it. You know,

1060
00:54:51,880 --> 00:54:54,399
Speaker 1: if you're part of a social network and you add

1061
00:54:54,440 --> 00:54:56,560
Speaker 1: value to it, you should be able to accrue that value.

1062
00:54:56,800 --> 00:54:58,480
Speaker 1: There's a lot of critics, right There's a lot of

1063
00:54:58,480 --> 00:55:00,920
Speaker 1: people who love, there's a lot of people who don't understand.

1064
00:55:01,080 --> 00:55:03,840
Speaker 1: There's a lot of people who bash. Some critics say

1065
00:55:03,920 --> 00:55:06,880
Speaker 1: that you own a ton of the highlights, you know,

1066
00:55:06,920 --> 00:55:09,200
Speaker 1: like I think like five million dollars worth right now.

1067
00:55:09,320 --> 00:55:12,480
Speaker 1: What is your answer to whether that's a conflict or not.

1068
00:55:13,000 --> 00:55:15,279
Speaker 1: I mean, I think that it's a valid question. My

1069
00:55:15,400 --> 00:55:18,080
Speaker 1: account name is Rohan, so I'm clearly not hiding the bet.

1070
00:55:18,080 --> 00:55:21,360
Speaker 1: And the benefit is it's it's blockchain, it's transparency. Everything's

1071
00:55:21,360 --> 00:55:23,760
Speaker 1: out there. Everyone can audit all of my purchase history,

1072
00:55:23,920 --> 00:55:26,239
Speaker 1: everything I bought on the marketplace, everything I opened in

1073
00:55:26,239 --> 00:55:28,680
Speaker 1: a pack. And the reality is, you know, six months

1074
00:55:28,719 --> 00:55:31,440
Speaker 1: ago we were talking to investors, we were talking to

1075
00:55:31,880 --> 00:55:34,680
Speaker 1: you know, other IP owners and everyone kind of you know,

1076
00:55:34,719 --> 00:55:37,480
Speaker 1: people didn't people didn't even know that this was going

1077
00:55:37,520 --> 00:55:39,440
Speaker 1: to be a thing, right, It was a it was

1078
00:55:39,520 --> 00:55:41,680
Speaker 1: a bet. You know, we were lucky that we have

1079
00:55:41,760 --> 00:55:44,440
Speaker 1: people like Fred Wilson and others that that deeply believe

1080
00:55:44,520 --> 00:55:47,200
Speaker 1: in the future we're building. But to be frank, you know,

1081
00:55:47,280 --> 00:55:49,440
Speaker 1: I had to understand this product that we built, and

1082
00:55:49,440 --> 00:55:52,160
Speaker 1: it took many months of myself using it, our team

1083
00:55:52,239 --> 00:55:54,920
Speaker 1: using it, being part of the community, like day in,

1084
00:55:55,000 --> 00:55:57,719
Speaker 1: day out, you know, being sort of competing on a

1085
00:55:58,080 --> 00:56:00,560
Speaker 1: even terrain. And back then, you know, packs were available

1086
00:56:00,600 --> 00:56:03,480
Speaker 1: for days, not a seconds, so so it wasn't like

1087
00:56:03,520 --> 00:56:06,080
Speaker 1: we were sort of taking someone else's spot. We were

1088
00:56:06,120 --> 00:56:08,520
Speaker 1: trying to understand our own product. And then since you know,

1089
00:56:08,560 --> 00:56:11,200
Speaker 1: it became a contentious thing, I stopped trading. Um, we're

1090
00:56:11,239 --> 00:56:13,399
Speaker 1: going to put out a statement on you know, what's

1091
00:56:13,400 --> 00:56:17,160
Speaker 1: our sort of employee account policy. Me personally, I consider

1092
00:56:17,520 --> 00:56:20,520
Speaker 1: it's sort of like Satti's wallet, that's the original, the

1093
00:56:20,600 --> 00:56:24,480
Speaker 1: original cryptopic, right, the funder big one. And you know,

1094
00:56:24,840 --> 00:56:26,520
Speaker 1: I'm just I'm being facetious. I don't mean to be

1095
00:56:26,600 --> 00:56:28,960
Speaker 1: that presumptuous. It's either you're gonna hold on to it

1096
00:56:29,000 --> 00:56:32,319
Speaker 1: forever and not trade it, or you're gonna get divest

1097
00:56:32,360 --> 00:56:35,399
Speaker 1: all of it, but you're not actively in and out

1098
00:56:35,400 --> 00:56:38,359
Speaker 1: of trading anymore precisely, And if we can figure out

1099
00:56:38,400 --> 00:56:41,640
Speaker 1: a way where um it makes sense for I mean,

1100
00:56:41,640 --> 00:56:44,680
Speaker 1: there's some ideas around fractionalization. Can the community get an

1101
00:56:44,680 --> 00:56:46,920
Speaker 1: ownership and then they want me to play it and

1102
00:56:47,000 --> 00:56:49,520
Speaker 1: actually be kind of active, But you know, we want

1103
00:56:49,560 --> 00:56:51,560
Speaker 1: to do what's the you know, the big at the

1104
00:56:51,560 --> 00:56:54,439
Speaker 1: big picture here is what's important to us. So there's

1105
00:56:54,480 --> 00:56:56,279
Speaker 1: no way we'd be here if if the team hadn't

1106
00:56:56,280 --> 00:56:58,600
Speaker 1: been able to play the product. You know, this was hard,

1107
00:56:58,719 --> 00:57:01,160
Speaker 1: This was a it's still is hard in the sense of,

1108
00:57:01,239 --> 00:57:03,200
Speaker 1: you know, managing and open economy is a new thing.

1109
00:57:03,400 --> 00:57:05,279
Speaker 1: But I think we've figured out the pieces now and

1110
00:57:05,320 --> 00:57:08,080
Speaker 1: can sort of step back a little bit. I've heard

1111
00:57:08,080 --> 00:57:11,319
Speaker 1: conflicting reports about how long the deal is and then

1112
00:57:11,360 --> 00:57:13,759
Speaker 1: like whether the NBA can stop it, So can you

1113
00:57:13,800 --> 00:57:16,480
Speaker 1: tell me anything about that or at least are there

1114
00:57:16,520 --> 00:57:20,320
Speaker 1: any plans to open up previous years or is it

1115
00:57:20,360 --> 00:57:23,880
Speaker 1: only going to be here going forward? On the deal

1116
00:57:24,080 --> 00:57:26,280
Speaker 1: terms are confidential, but I can say I want to

1117
00:57:26,280 --> 00:57:28,640
Speaker 1: work with the league to announce it I think it's

1118
00:57:28,680 --> 00:57:32,080
Speaker 1: totally valid for people to know. But both the league

1119
00:57:32,120 --> 00:57:34,680
Speaker 1: and US we look at this as a multi decade relationship.

1120
00:57:34,720 --> 00:57:36,480
Speaker 1: We're building a hunt. Trading cards being around for a

1121
00:57:36,560 --> 00:57:38,960
Speaker 1: hundred years, these things should be around for a way longer,

1122
00:57:39,000 --> 00:57:40,720
Speaker 1: and so that's that's sort of the mentality we have

1123
00:57:40,760 --> 00:57:43,960
Speaker 1: building it. The reason they're on the blockchain is because

1124
00:57:44,040 --> 00:57:46,760
Speaker 1: highlights and sort of these videos are so valuable to

1125
00:57:46,760 --> 00:57:48,840
Speaker 1: the NBA. They can't just put them in a video

1126
00:57:48,840 --> 00:57:51,600
Speaker 1: game that belongs to somebody else or have them as

1127
00:57:51,640 --> 00:57:54,480
Speaker 1: like digital stickers on Instagram or something. The point of

1128
00:57:54,520 --> 00:57:57,520
Speaker 1: them being on the blockchain is the worst case. Let's

1129
00:57:57,520 --> 00:57:59,800
Speaker 1: say that allows next year says hey, you know what,

1130
00:57:59,800 --> 00:58:01,760
Speaker 1: we're just gonna work with the NFL. We're not even

1131
00:58:01,760 --> 00:58:03,880
Speaker 1: gonna we don't even want to do basketball. Well, the

1132
00:58:03,960 --> 00:58:06,760
Speaker 1: NBA can spin up an NBA Top Shot by themselves

1133
00:58:06,880 --> 00:58:09,880
Speaker 1: or with another developer, essentially honor all of the past

1134
00:58:10,400 --> 00:58:13,360
Speaker 1: UH collectors um assets, and that's what they want to do.

1135
00:58:13,400 --> 00:58:16,520
Speaker 1: They want this to be more like jerseys and trading

1136
00:58:16,560 --> 00:58:19,760
Speaker 1: cards and signed basketball's, where they can work with different

1137
00:58:19,760 --> 00:58:22,320
Speaker 1: manufacturers potentially and sell it and maybe they're on different

1138
00:58:22,320 --> 00:58:25,720
Speaker 1: marketplaces and like I can imagine that a highlight like

1139
00:58:25,840 --> 00:58:29,280
Speaker 1: Michael Jordan's dunking in the Dunk Contest, Like if a

1140
00:58:29,360 --> 00:58:33,680
Speaker 1: highlight was crazy. Now, we did see the Lebron Kobe tribute.

1141
00:58:33,880 --> 00:58:36,280
Speaker 1: That's an amazing highlight and that was the one that

1142
00:58:36,360 --> 00:58:39,360
Speaker 1: resold for forty seven thousand bucks. So like, are you

1143
00:58:39,520 --> 00:58:43,200
Speaker 1: looking for great past highlights? Can that be introduced as

1144
00:58:43,240 --> 00:58:46,120
Speaker 1: part of this deal? It can, absolutely, It's definitely part

1145
00:58:46,160 --> 00:58:47,960
Speaker 1: of the deal. But the idea is it would be

1146
00:58:47,960 --> 00:58:50,400
Speaker 1: super easy for us to take the most iconic moments

1147
00:58:50,400 --> 00:58:52,960
Speaker 1: in history and and sort of turn them into collectibles itself.

1148
00:58:53,200 --> 00:58:55,720
Speaker 1: We wanted to first start with what about everyday games?

1149
00:58:55,720 --> 00:58:58,480
Speaker 1: What about what's happening right now? Can can we extract

1150
00:58:58,480 --> 00:59:01,400
Speaker 1: the most iconic moments there, because that's actually a much

1151
00:59:01,520 --> 00:59:03,840
Speaker 1: richer field and it's it sort of happens all the time.

1152
00:59:03,880 --> 00:59:05,480
Speaker 1: Of course, we can go in the past. We've done

1153
00:59:05,480 --> 00:59:08,480
Speaker 1: one running back stet from, but we don't want to

1154
00:59:08,520 --> 00:59:10,920
Speaker 1: do the things we know will appeal to a billion

1155
00:59:11,040 --> 00:59:13,880
Speaker 1: NBA fans until we can handle a billion NBA fans.

1156
00:59:13,960 --> 00:59:16,280
Speaker 1: That that's really the mindset is is, you know, I

1157
00:59:16,320 --> 00:59:18,400
Speaker 1: think that we do want to have some awesome content

1158
00:59:18,440 --> 00:59:20,800
Speaker 1: for beata users. But you know, the kinds of things

1159
00:59:20,800 --> 00:59:24,280
Speaker 1: you're you're sort of talking about, is uh is you know,

1160
00:59:24,760 --> 00:59:28,520
Speaker 1: minimum six months away, probably probably longer. What can you

1161
00:59:28,600 --> 00:59:31,600
Speaker 1: tell me is next? I mean, I think the expectation

1162
00:59:31,640 --> 00:59:35,120
Speaker 1: should be we're gonna go hard on NBA until it's

1163
00:59:35,120 --> 00:59:37,360
Speaker 1: out of beta. What the term is the timeline? And

1164
00:59:37,440 --> 00:59:41,080
Speaker 1: beata A you know, infrastructure stability and reliability that we're

1165
00:59:41,080 --> 00:59:43,960
Speaker 1: getting theirs A P. It's our support timelines. We've got

1166
00:59:43,960 --> 00:59:45,840
Speaker 1: to get back to people within twenty four hours, so

1167
00:59:45,920 --> 00:59:49,000
Speaker 1: that's that's Any more than that is not acceptable. And

1168
00:59:49,040 --> 00:59:51,640
Speaker 1: then all of the identity checks, withdrawals, all these things

1169
00:59:51,720 --> 00:59:54,200
Speaker 1: have to be within twenty four hours. Everything's got to

1170
00:59:54,240 --> 00:59:57,440
Speaker 1: be the way a normal customer would expect it to be,

1171
00:59:57,440 --> 00:59:59,880
Speaker 1: because the people get angry otherwise and and they're sort

1172
00:59:59,880 --> 01:00:02,120
Speaker 1: of confuse, what's happening to their money? Why is anyone

1173
01:00:02,160 --> 01:00:04,560
Speaker 1: answering in question? We have to follow a certain set

1174
01:00:04,560 --> 01:00:07,040
Speaker 1: of guidelines for every single user. Look at their source

1175
01:00:07,080 --> 01:00:09,360
Speaker 1: of funds, run projects on our credit cards, look at

1176
01:00:09,360 --> 01:00:13,160
Speaker 1: their source of crypto? Do do these anti money laundering checks?

1177
01:00:13,200 --> 01:00:16,120
Speaker 1: Like literally, until recently was one person and her job,

1178
01:00:16,200 --> 01:00:18,240
Speaker 1: her main job was being the head of product. This

1179
01:00:18,360 --> 01:00:21,800
Speaker 1: thing happened so fast. There's only so much that you

1180
01:00:21,840 --> 01:00:24,600
Speaker 1: can expect from a business. And you know, so I

1181
01:00:24,680 --> 01:00:27,480
Speaker 1: get that part completely. I mean, now it's a full team.

1182
01:00:27,560 --> 01:00:30,320
Speaker 1: So it's it's it's five six people, a few contractors

1183
01:00:30,360 --> 01:00:33,360
Speaker 1: we have outside um uh firms that are ramping up.

1184
01:00:33,360 --> 01:00:35,520
Speaker 1: But it takes it takes at least two weeks. Right,

1185
01:00:35,560 --> 01:00:37,400
Speaker 1: we barely had a month to sort of ramp up.

1186
01:00:37,440 --> 01:00:42,120
Speaker 1: And this is basically on a marketplace transaction, let's say, right,

1187
01:00:42,160 --> 01:00:44,600
Speaker 1: because because it's credit cards and and you know, people

1188
01:00:44,680 --> 01:00:46,840
Speaker 1: can come in with you know, stolen credit cards, people

1189
01:00:46,920 --> 01:00:49,480
Speaker 1: can and it's peer to peer, so you can two

1190
01:00:49,560 --> 01:00:51,280
Speaker 1: people can come in from different parts of the world

1191
01:00:51,320 --> 01:00:53,480
Speaker 1: and have a transaction. We have to look at both

1192
01:00:53,520 --> 01:00:55,480
Speaker 1: of those people. We have to do all of the

1193
01:00:55,520 --> 01:00:59,320
Speaker 1: traditional you know, compliance checks, and it just takes takes

1194
01:00:59,360 --> 01:01:02,160
Speaker 1: effort to be clear. Money can change hands on the

1195
01:01:02,200 --> 01:01:05,000
Speaker 1: platform really easily. It's when people want to withdraw it

1196
01:01:05,080 --> 01:01:07,080
Speaker 1: out of the platform that we have to sort of

1197
01:01:07,120 --> 01:01:09,720
Speaker 1: do the hey, this identity check and are you a

1198
01:01:09,720 --> 01:01:12,160
Speaker 1: real person or you from a sanctioned country and and

1199
01:01:12,160 --> 01:01:14,520
Speaker 1: there are you know, limits of if you spend x amount,

1200
01:01:14,520 --> 01:01:16,600
Speaker 1: it sort of kicks in and says, usually use your

1201
01:01:16,600 --> 01:01:19,240
Speaker 1: phone and just verify your identity. Most of the time

1202
01:01:19,240 --> 01:01:21,960
Speaker 1: it's seamless, it doesn't have a human intervention, and it

1203
01:01:22,080 --> 01:01:25,560
Speaker 1: sort of happens quickly. But you know, someone's driver's license

1204
01:01:25,600 --> 01:01:28,640
Speaker 1: expired because it's COVID, and you know the software kicks off.

1205
01:01:28,680 --> 01:01:31,600
Speaker 1: Hey it's expired, and so a human needs to step in,

1206
01:01:31,640 --> 01:01:34,200
Speaker 1: and it just takes a lot of bandwidth be there,

1207
01:01:34,240 --> 01:01:37,600
Speaker 1: solved problems by other organizations, and um, we're we're in

1208
01:01:37,640 --> 01:01:41,080
Speaker 1: really good shape, kind of getting hidle around them. Rohan

1209
01:01:41,160 --> 01:01:45,560
Speaker 1: gargaz Lou, the CEO of Dapper Labs, parent company of

1210
01:01:45,680 --> 01:01:48,560
Speaker 1: Top Shot. Hey, there's no one hotter than new Baby,

1211
01:01:48,680 --> 01:01:51,120
Speaker 1: keep going. Hey, thank you very much for your help

1212
01:01:51,160 --> 01:01:53,160
Speaker 1: and your support. And I'm great to be on here

1213
01:01:53,680 --> 01:01:57,320
Speaker 1: all right. Thanks to Darren, thanks to Rohan, thanks to

1214
01:01:57,440 --> 01:02:00,600
Speaker 1: Jack Settlement, thanks to Simon Hunter. This has been the

1215
01:02:00,680 --> 01:02:04,000
Speaker 1: favorites from the Action Network. Downloaded, Apple, Podcast, Spotify, wherever

1216
01:02:04,040 --> 01:02:08,000
Speaker 1: you get your podcasts. Until next time, I love you,

1217
01:02:09,120 --> 01:02:09,160
Speaker 1: h