How to not lose money with NFTs! Rug Pulls, FUD and NFT Projects Setup To Fail

Audio Transcript Auto-generated

• 00:00 - 00:04

  Welcome back to another episode of NFT 365

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  and today we're going to talk about really,

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  hopefully filtering some of the noise and

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  I like to say, you know, translating the geek speak,

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  but also really kind of breaking down and understanding some of the things that

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  we kind of mentioned on the podcast and we talk a lot about,

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  but really,

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  what do they mean and kind of taking a deep

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  diver because we're in a great area and like,

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  this is something for me that has always worried me.

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  It's, you know, one that I've said for a while that I was always bothered when

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  people do something or say something as if it is all encompassing. Right?

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  I think it's important for us

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  to be very careful with the words we use and

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  and especially those that are influential in this space,

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  how we talk about certain things that are happening both

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  inside of the N F T community and then also outside

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  of the N F T community as far as education and,

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  and kind of mass adoption.

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  So

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  with that being said, we're gonna talk about, you know, rug pools

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  versus fud

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  versus well, really just projects that,

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  that suck that aren't very good

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  and it's very easy for us to kind of loop all of these things into one, but that it's,

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  it's an important thing to kind of separate the two and kind of understand

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  where they're all going

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  with that being said,

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  a project that is definitely not a rug pool or fund

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  or a project I've been waiting for to come out.

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  and we actually minted it today for mint 3 65.

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  And I have no affiliation with this project.

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  No project has ever given me the project for free

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  or giving me money to talk about a project.

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  I just talked about

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  the great people that are doing great things and

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  that the one that I wanted to mention today

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  is women tribe and so women tribes doing a pre sale I believe for almost four days.

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  And then they're gonna open it up for their public sale.

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  And so we minted three of them today for the our our collection one for min 3 65.

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  And then to that I minted personally. And so if you,

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  I think a great resource for those that are

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  new, but also those that want to see a variety of projects.

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  Make sure you check out n f T 3 65 podcast dot com

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  slash mint 3 65. You can actually

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  look at all of the projects that we've bought every day of the year.

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  We updated every single day as soon as we we we buy into a project for that day,

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  it's updated on the website.

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  So you can kind of take a sneak peek of everything that is going on in that project.

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  Now with that being said,

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  when I'm doing research and we're doing research, you know,

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  with those that are in our discord those that

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  are in our community on these different projects.

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  We have like a massive list,

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  I mean a massive list of the things that we are looking at everything

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  from how much can we learn about the founders is the team doctor,

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  you know, who are the advisors and partners with the project?

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  What is the type of project that it's actually deploying? Right?

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  Like what is the actual use case? What is what I like to say?

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  The projected utility and real utility and road map and the

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  energy and the hype and the vibes and all those things.

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  But here's the thing,

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  even after doing all of this research,

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  we could still fall for a rug pool

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  or we could still allow fud

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  to influence our decision on a project,

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  yep, that's right.

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  No matter how much research you're doing and how much data you're doing,

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  we are all human

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  and we all

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  react or interact or are influenced based on a series of different, you know,

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  emotional things that can be be triggered um time of day understanding, you know,

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  some of the nuances in this space and so

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  this is really where I want to take this episode and most of you know,

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  my mantra of we are greater than me and I'm a big believer that together

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  we can really make an impact and take, you know, this N. F. T.

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  Community the next level.

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  It's also a place for us to really, you know,

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  you know extend what is possible in technology and innovation

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  but not everybody believes in we is greater than me.

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  And I say this all the time. It's actually a sign that is right over my my my shoulder.

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  Uh, you can't fix stupid,

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  you can't stop bad people from doing bad things and no technology has ever

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  prevented either one of them stupid or bad people from doing bad things.

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  And so there are people

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  that will, that will kind of set up these rug pools. And so I'm gonna, I'm gonna

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  I'm gonna define the rug pull the fud and then there's just a crappy projects.

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  And then I'm gonna give you kind of a little acronym that I like

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  to play into that goes deeper inside of do your own damn research.

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  But from the standpoint of a rug pool, right?

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  A rug pull it all comes down to the a tent,

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  a rug pool means that it is a money grab that these are scam artists

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  that their entire mission from the start of the project.

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  The whole reason that they're creating it

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  is not to deliver on anything that they're promising,

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  but it's really just to get your money.

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  And

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  and sometimes that happens

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  during the mints phrase,

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  Sometimes that happens pre art reveal something happens even after the art reveal,

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  because they want to, you know,

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  can they get greedy and they really want to kind of like maximize

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  what they can possibly get from us. Now.

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  With that being said, a rug pool doesn't have to actually not all rug pulls,

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  look the same, right?

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  Some of them are very elaborate, right? I I I will say this like

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  The road pool that happened this week, you know, we've been through some research,

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  you know, they've spent over $2 million Dutch oxen.

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  Which if they, if it's sold out on the docks to auction side,

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  it would net them $32 million.

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  So for them putting up $2 million $32 million.

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  And so that of course is going to bring, you know, a lot of attention. Now,

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  the opposite is also the case where some projects

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  simply go on to Fiverr, they pay someone to do a piece of art,

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  they put up a really crappy landing page, they put out some twitter followers,

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  they buy some twitter followers,

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  they hopefully kind of joined the conversation

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  and then they dropped their mints because

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  Even for them, if they steal $50,000,

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  for them, it's worth it, right?

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  And so like rug pools can kind of come in all shapes or sizes

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  and what's important for us to realize is that

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  it's about that intent, right? And it's a difference between

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  a project that like loses its

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  it's a moral compass or loses its its momentum and kind of gives up.

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  That's not really the same rug pool conversation

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  that we're having when it's a money grab.

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  And and I'm not saying that one is better than the other. Now,

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  the term fud

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  F U D, which stands for fear uncertainty and doubt.

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  So fudd can be delivered in many different forms and fashion

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  it often can be delivered by simply sharing data about a

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  project or about a creator or about a platform that is

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  skewed in breaking them down of making them sound of,

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  you know, of hopefully invoking the fear

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  in the community. So they don't buy them. Now,

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  the intent behind fud

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  comes in a bunch of different formats, right?

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  Because someone might be funding something because they want to misinform people,

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  right?

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  Because their goal is that they, the more confusion,

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  maybe the less people to buy the project and then it gives

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  them more opportunity to buy more of them at the lower price,

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  right?

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  Some people are spreading fud

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  fear uncertainty and doubt because they they're actually

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  miss maliciously trying to stop a project or,

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  you know, they don't want this project to succeed.

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  So they're gonna, you know, you know,

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  share misinformation or manipulate what's out there.

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  The other part of this, which is I think

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  one of those areas we have to be very careful on

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  is that there's also people that are spreading fud

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  because they're like on a personal ego trip

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  and in some cases there are people that are haters of web three haters of N. F. T. S.

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  Haters of crypto

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  and their goal admission for sharing

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  misinformation or only a snapshot of information

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  is to cause this you know disruption and dismay to make themselves look smarter.

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  And I and we have to be very very careful with these

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  different types of fun and like the way that they're spread.

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  Now I will say

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  one of the accounts that has got a lot of love recently is the N. F. T. Ethics account.

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  Right? So N. F. T.

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  Ethics account has been exposing some of the the

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  rug pools and and they're doing a lot of

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  research and they you know they for the squiggles

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  one they provided like a 12 page research document.

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  Now here's the beauty of that is I love

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  that there are people looking out for others.

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  I have a little bit of a problem with the fact that the N. F. T. Ethics account

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  is not undocks themselves. So we don't even know who are the people behind

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  that account like what is their intention for them You know on

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  mint day for some of these projects putting out this information now me

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  I would love to believe that their intention is to protect the community.

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  I am one that like always defaults to

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  believing in the good in humanity and the good in people.

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  But I'm also one that would not be surprised that there are

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  people that are doing research and exposing a lot of these other projects

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  to make their projects higher or so that they can release the project, you know,

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  very soon after to capitalize on that, like, you know,

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  social credibility that they just kind of gained or manage.

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  And then, of course,

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  the third one that I said, I wanted to break down, we're just bad projects.

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  And really, if you'll notice I'm talking about the intent

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  of these three different elements, right?

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  The intent of a rug pool, the intent of of fud and then the intent of bad N. F.

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  T projects, Right? And so a lot of these N. F. T projects, let's just face it,

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  they're outside of their depth, they're they're not startup founders,

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  they've never run a team before, they've never been in this this type of arena

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  and yet they're making claims,

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  you know, that they're, you know, they're they're asked can't cash, right?

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  They are, they're they're ultimately setting themselves up for failure,

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  but they're getting the money up front.

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  And then in many cases, they kind of just don't deliver,

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  don't deliver and they try to, you know, disappear into, you know, whatever,

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  they change their names, you know, undocks.

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  And so

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  this also comes in to account when there's a crisis or a problem, right? A lot of the N.

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  F. T. Projects, in my opinion, they do, they forget the importance of education

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  and they don't have any crisis management um you know, set up anything,

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  how do we handle if our discord gets hacked?

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  How do we handle if people um exposed the vulnerability in our contract,

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  how do we handle if that we have to change something in our roadmap?

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  And it really upsets our user base, and what happens is

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  a lot of people feel that pressure

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  and they're like, well I already got their money and they can't trace it down to me,

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  I'm just gonna I'm gonna step away with that money, right?

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  And so I look at all three of these as things that we have to be very aware of,

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  and we have to kind of take into account when it comes to

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  you know, understanding this arena,

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  but this is also where it comes into

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  understanding like white hats versus black hats,

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  which is kind of a hacker term of like of those

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  that are hacking and exposing vulnerabilities for the greater good,

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  right?

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  So that they can, you know expose them so people can can um patch that hole right?

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  Versus those that are exposing it for their own agenda, right?

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  It's it's the idea that like, you know, someone could be, you know,

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  someone breaks into your house,

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  they break into your house and then call you and say hey

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  you should have security cameras because your back door is vulnerable.

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  And I was able to break in versus someone that

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  breaks into your house and steals all your crap,

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  right?

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  And so

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  one of those things that we have to just recognizes that

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  even in people, even me write like I would challenge everyone,

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  do your research on me, on understanding what, you know,

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  if I'm talking about something or I'm exposing something, What is my intent?

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  What is the reason I'm sharing this? And I will tell you

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  every single time I read a tweet or II a blog or even

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  like a Tiktok video where someone is giving information or giving advice.

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  The first thing that goes into my head is what is their intent for sharing this?

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  If people are telling you, I'm gonna teach you how to take $300 into

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  $100,000 and they're doing it in their spare bedroom of their parents house,

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  more than likely they're full of crap,

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  right?

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  Because they can, if they actually did that,

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  they probably wouldn't be living in their parents basement.

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  Right? And so we have to kind of like identify that.

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  We also have to recognize that if it sounds too good, right?

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  If people are giving you the magic recipe for all of these things,

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  why aren't they doing it themselves?

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  And if they have already done it themselves,

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  shouldn't they be able to have the receipts to prove that right.

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  And,

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  and the beauty of the Blockchain. The beauty of

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  of transparency in this entire arena

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  is the idea that those receipts should be very easy for us to garner.

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  I will tell everyone here, I I actually share my wallet directly into our discord.

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  You can see everything we meant, everything we sell in our, you know,

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  fully transparent.

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  I want you to see every interaction in every interaction out. I want

• 13:31 - 13:34

  I want you to be able to do your own damn research Now

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  with that in mind, doing your own damn research,

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  which is our play on just do your own research

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  because I'm press the damn button and I'm a big believer

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  in those that are taking action,

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  funny enough doing your own research

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  and doing it in a way

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  that is either

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  not beneficial for you

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  or in a way that is influenced by the fud or the haters or the media

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  can actually be one of the biggest problems.

• 14:02 - 14:03

  And I know this sounds kind of

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  funny, but here's here's something that I'm realizing right now

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  with a lot of people that are reaching out to me,

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  they're doing research,

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  but the researching things

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  not in the wrong way because it's not right or wrong,

• 14:16 - 14:18

  but they're not researching things

• 14:18 - 14:22

  to give them enough of an understanding of what's going on

• 14:22 - 14:24

  to actually make the right decision right.

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  Doing research for research sake is ridiculous.

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  Doing research without understanding your own definition of success

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  or having your goals

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  is also something that's not really beneficial.

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  And the last thing is

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  getting access to data

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  without context

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  can be very

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  detrimental in this space. What I mean by that is I can

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  anybody's wallet, anybody that buys an N. F. T.

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  I can take their wallet,

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  I can put it into a tool that I have and then I can see

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  everything they buy from then on it'll pop up and say such and such.

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  You know bought this N. F. T.

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  If I'm gonna make my if I'm gonna make decisions based on

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  this data point how do I know why they're buying that N.

• 15:07 - 15:08

  F. T. Right?

• 15:08 - 15:12

  Like maybe little do I know it could be their best friend um you know is launching

• 15:12 - 15:15

  this project that they plan on making no money on but they just want to support it.

• 15:15 - 15:17

  So someone bought that N. F. T.

• 15:17 - 15:19

  So if you're using that data

• 15:19 - 15:24

  to to actually make your decisions to to act on

• 15:24 - 15:28

  then you're going to make bad decisions because like bad input

• 15:28 - 15:30

  will equal bad output

• 15:30 - 15:35

  and input that has no real like direction equals you

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  know the shotgun approach on the output as well.

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  And so

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  I'm gonna kind of walk down this like do your own

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  damn research real quick to kind of give you like some of these things to think about.

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  The one of the things that I always like to say is like I'm trying to

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  determine like the number one thing I'm trying

• 15:51 - 15:52

  to determine when I'm researching an N.

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  F. T. Project

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  is how much do I trust

• 15:56 - 15:57

  the founders

• 15:57 - 15:59

  and the team and the community

• 15:59 - 16:01

  that they're going to deliver on what they're

• 16:01 - 16:03

  delivering and what they say is actually true.

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  And so one of the questions I often ask myself is do they care?

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  Do the founders truly care about all of the things that they

• 16:11 - 16:14

  have going on or are they checking a bunch of check boxes?

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  Right.

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  And so it's a question you have to ask yourself even with the people

• 16:18 - 16:22

  that you're following on on twitter or the discords that you're jumping into.

• 16:22 - 16:24

  Do they care about me

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  or do they only care about themselves?

• 16:26 - 16:30

  Do they care about the greater we or they care about only the we.

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  Alright so we're gonna work our way down there.

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  So from do they care to why do they care or why do you care about a project?

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  What I mean by that is there are certain things we have to identify about N. F. T.

• 16:43 - 16:45

  Project that will determine

• 16:46 - 16:49

  the things that we should research right? Like if you love the art

• 16:50 - 16:53

  then you have to you have to to weigh the fact

• 16:53 - 16:56

  that you love the art over some of the other things.

• 16:56 - 16:59

  But you also have to recognize no matter how much I love the art.

• 16:59 - 17:04

  If these three things that I research are not up to my standard

• 17:05 - 17:07

  no matter how much I love the art, it's not worth me jumping in. Right?

• 17:07 - 17:11

  And so I like to ask myself even like, why do I care about this project?

• 17:11 - 17:14

  We, we minted two of steve Aoki's

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  N F T S today.

• 17:15 - 17:19

  And for me, I did a little bit less research on that project,

• 17:19 - 17:23

  which is a little scary because a lot of these celebrity driven, um, you know,

• 17:23 - 17:26

  famous projects haven't been very successful,

• 17:26 - 17:31

  but I will tell you part of the reason I care is because Mac, who is a friend,

• 17:31 - 17:34

  is one of the advisors and one of the people supporting, um,

• 17:34 - 17:38

  that project and I know how much she values and,

• 17:38 - 17:40

  and does the due diligence on a project.

• 17:40 - 17:44

  So that for me it was like, hey, I care about the project because

• 17:45 - 17:48

  hey, I think steve Aoki has an amazing brand and he cares about his community

• 17:48 - 17:50

  and I care about it because

• 17:50 - 17:53

  the people that he has advising him are people that I trust.

• 17:53 - 17:57

  Therefore I don't have to really factor in some of the other research that I,

• 17:57 - 17:58

  I might normally have to factor in there.

• 17:59 - 18:00

  The third one.

• 18:00 - 18:00

  So we are,

• 18:00 - 18:03

  we went from the D to the Y to the O and

• 18:03 - 18:07

  do your own damn research the O is own your actions.

• 18:08 - 18:11

  I think in this space, it's very easy for us to blame

• 18:11 - 18:13

  the fud and blame

• 18:13 - 18:14

  the rug pools and yes,

• 18:15 - 18:15

  it is,

• 18:15 - 18:18

  it is very frustrating and very you feel

• 18:18 - 18:20

  as though you're violated when you are scammed

• 18:20 - 18:24

  out of something or someone steals your money and I'm not making an excuse for that.

• 18:24 - 18:26

  But we also have to recognize

• 18:26 - 18:28

  that if we didn't do the right research, if we didn't

• 18:29 - 18:31

  check all the right boxes and we are looking for

• 18:31 - 18:34

  a shortcut or we were looking for a quick win

• 18:34 - 18:38

  and we were we were scammed. It's not the N. F. T. S fault.

• 18:38 - 18:41

  It's not the block chains fault. It's your own fault.

• 18:41 - 18:43

  And I think with owning your actions,

• 18:43 - 18:47

  it also means owning the amount of time you're gonna commit to projects,

• 18:47 - 18:51

  owning the amount of value that you're going to manufacture from the projects

• 18:51 - 18:52

  that you are involved in.

• 18:53 - 18:55

  All right. And then the last two here we have

• 18:55 - 18:57

  defined success

• 18:57 - 18:59

  and then remember we're all human

• 19:00 - 19:02

  defining success to me is still

• 19:02 - 19:05

  one of the things I think almost everyone probably listening to this podcast

• 19:06 - 19:07

  still overlooks

• 19:08 - 19:11

  what I mean by that is before you buy your next N. F. T.

• 19:11 - 19:13

  I want you to write down

• 19:13 - 19:17

  success for me with buying this N. F. T. Is

• 19:17 - 19:18

  and then fill that out. Now.

• 19:18 - 19:23

  It can be monetary, it could be um you know, the community,

• 19:23 - 19:24

  it could be what you're going to learn.

• 19:24 - 19:26

  It could be the network that you're going to get out of it.

• 19:26 - 19:30

  But I want you to write down what success of each N. F. T.

• 19:30 - 19:34

  Project is prior to you actually actually purchasing it.

• 19:34 - 19:37

  And the reason that's important is that when we

• 19:37 - 19:40

  have these like dips where the floor prices dip

• 19:40 - 19:46

  or a project takes a long while for it to to deploy its utility or its roadmap.

• 19:46 - 19:49

  It can be very frustrating. It can be very upsetting.

• 19:49 - 19:53

  But if you look back at your success and if your success metric is I want to hold this

• 19:53 - 19:55

  project for 12 months because I believe in the

• 19:55 - 19:58

  founders and I believe they're going to create something amazing

• 19:59 - 20:02

  when you get frustrated six months in that some things aren't happening.

• 20:02 - 20:04

  It allows you to re center yourself and be like hey

• 20:05 - 20:07

  I wasn't looking for six months,

• 20:07 - 20:10

  six months into double triple my money.

• 20:10 - 20:12

  I'm looking at this from a longer picture and so that's a big one

• 20:13 - 20:15

  and the last one here is remember that we're all human.

• 20:15 - 20:16

  We have to give each other grace.

• 20:17 - 20:18

  There are people that have,

• 20:19 - 20:22

  there are influencers that have been manipulated

• 20:22 - 20:25

  into supporting a project that ended up being a rug pool

• 20:26 - 20:27

  and if they do that once

• 20:28 - 20:31

  And they're transparent and they own it. I am 100% for giving them forgiveness

• 20:32 - 20:33

  if they do it twice.

• 20:33 - 20:37

  Now I'm gonna question and have my guard up, they do it a third time.

• 20:37 - 20:40

  You know, hey that's on them and I'm gonna mute unfollowed block

• 20:41 - 20:42

  but we have to remember, I mean

• 20:42 - 20:45

  no matter how much research you do, no matter

• 20:45 - 20:47

  all the due diligence that is possible.

• 20:47 - 20:50

  No matter all of the people that you surround yourself,

• 20:50 - 20:53

  we still have the opportunity as humans to make mistakes to,

• 20:53 - 20:59

  to maybe overlook a couple of things or let's face it, some of these rug pulls,

• 20:59 - 21:02

  some of these people spreading fud are really,

• 21:02 - 21:05

  really smart and really good at what they do.

• 21:05 - 21:08

  And so what I want you to remember for everyone that's watching and listening to this

• 21:09 - 21:10

  is remember that

• 21:10 - 21:14

  if you do fall for these or these things happen to you or you walk into these

• 21:14 - 21:16

  scenarios just know

• 21:16 - 21:17

  that you aren't alone

• 21:18 - 21:20

  that it happens to almost all of us which I hope

• 21:20 - 21:23

  we can prevent from having to say that in the future.

• 21:23 - 21:27

  But also just make sure that you're learning from what you did

• 21:27 - 21:29

  and not making that same exact mistake again.

• 21:29 - 21:31

  And in some cases we're gonna make the same

• 21:31 - 21:33

  mistake more than once I've said this before.

• 21:34 - 21:38

  You know I sent uh $12,000 worth of of of a coin

• 21:38 - 21:42

  to a wallet that wasn't a wallet that accepted that type of coin

• 21:43 - 21:48

  and I lost that currency and I was really frustrated and you know what I did as I said,

• 21:48 - 21:51

  you know what before I make any big transaction.

• 21:51 - 21:55

  Now I'm gonna send a test amount before I send I send just to

• 21:55 - 21:57

  make sure that I have the right wallet and things are sent out.

• 21:58 - 21:59

  Well guess what happened this week?

• 21:59 - 22:04

  I was in a rush, I was on my phone and I was like I'm not going to send the test amount out,

• 22:05 - 22:05

  I'm just going to send,

• 22:06 - 22:09

  I'm gonna screw send the test amount. I'm just gonna transfer this money over.

• 22:09 - 22:11

  I need to make sure that mine is perfect purchase

• 22:12 - 22:13

  what happened

• 22:13 - 22:15

  I put in the wrong wallet

• 22:15 - 22:18

  and it sent the crypto to the wrong wallet again.

• 22:18 - 22:18

  Yeah,

• 22:19 - 22:20

  I made the exact same mistake

• 22:21 - 22:22

  and who is to blame me

• 22:22 - 22:27

  Now the good news on this time was I sent it to another wallet that I currently own

• 22:27 - 22:30

  But still it didn't go to the wallet that I needed and

• 22:30 - 22:33

  it ended up costing me about $80 us because I had to transfer

• 22:33 - 22:36

  it back and then I had to pay another fee to transfer

• 22:36 - 22:38

  it into the wallet that um that it was supposed to go.

• 22:38 - 22:40

  So we have to remember that we're all human.

• 22:41 - 22:42

  and these things kind of happened

• 22:43 - 22:45

  lastly, you know, the Blockchain doesn't lie

• 22:46 - 22:48

  and I'm a big believer in

• 22:48 - 22:51

  the power here and like what is the research that I'm doing?

• 22:52 - 22:55

  My research is to determine how trustworthy a project is.

• 22:56 - 22:58

  The beauty of that is that transparency

• 22:59 - 23:02

  is not only essential in the Blockchain,

• 23:02 - 23:06

  but it is one of the critical value propositions of why the Blockchain is powerful,

• 23:06 - 23:07

  but

• 23:08 - 23:09

  as the great Dalai lama says,

• 23:10 - 23:11

  a lack of transparency

• 23:12 - 23:13

  results in distrust

• 23:14 - 23:16

  and a deep sense of insecurity.

• 23:17 - 23:21

  So what I mean by that is if you are not docks, if you are using an alias,

• 23:21 - 23:25

  if you are not letting people know what your linkedin profile is or letting them

• 23:25 - 23:29

  know what your real name is or using your real voice on twitter spaces,

• 23:30 - 23:33

  that lack of transparency is going to result in

• 23:33 - 23:37

  a distrust and a deep sense of insecurity.

• 23:37 - 23:41

  Now you can overcome that in some cases but in other cases

• 23:41 - 23:44

  it's gonna be something that is no longer accepted in this space.

• 23:44 - 23:48

  Now lastly, I will say this is something that I've said for a long while,

• 23:48 - 23:50

  it's like a soap box of mine

• 23:50 - 23:53

  that when we think about transparency, people like O'brien,

• 23:54 - 23:57

  you know what everyone should just be transparent. Here's the thing

• 23:58 - 24:00

  I always say if you suck offline,

• 24:02 - 24:05

  you're going to suck off online, I don't care how transparent you are,

• 24:05 - 24:08

  if you're transparently exposing that you are a horrible human.

• 24:08 - 24:12

  All that it does is it allows us to determine that you're a horrible human

• 24:12 - 24:13

  faster.

• 24:13 - 24:16

  So the question we have to ask is like what is the role of transparency?

• 24:16 - 24:21

  And here's my definition of it is that transparency does not guarantee trust,

• 24:22 - 24:25

  what it does is it simply gives others a window

• 24:26 - 24:29

  into deciding if you are trustworthy.

• 24:29 - 24:31

  So the more transparent you can be,

• 24:32 - 24:35

  the greater that window is for some of them to determine

• 24:35 - 24:36

  your trustworthiness

• 24:37 - 24:39

  but just because you are transparent

• 24:39 - 24:40

  does not mean people are going to trust you

• 24:41 - 24:45

  and there is a massive difference between transparency

• 24:45 - 24:46

  and over sharing

• 24:47 - 24:49

  and one of the things that I like to say which kind of connects to this

• 24:49 - 24:53

  quote is transparency is giving people a window

• 24:53 - 24:55

  into seeing who you are and what you're about

• 24:56 - 25:00

  over sharing is throwing in people's faces, what you ate for lunch.

• 25:00 - 25:03

  You know the fact that you have to go to the bathroom, whatever that may be.

• 25:03 - 25:05

  The fact you're you're tweeting from the toilet

• 25:05 - 25:07

  that is over sharing and those two things,

• 25:07 - 25:10

  there's sometimes a great line there but it's important for us to

• 25:10 - 25:13

  kind of recognize that and own that in the greater good.

• 25:14 - 25:16

  So with all that being said, you know,

• 25:16 - 25:18

  I do believe it's important for us to recognize the

• 25:18 - 25:21

  difference between a rug pool and a crappy project.

• 25:22 - 25:23

  We also have to recognize that

• 25:24 - 25:26

  that people could be spreading fud

• 25:26 - 25:29

  by by exposing other projects

• 25:29 - 25:30

  and then people could also be spreading

• 25:30 - 25:33

  fud without even realizing what they're doing.

• 25:34 - 25:36

  And I think more so than anything else,

• 25:36 - 25:40

  I'm just such a bullish believer in transparency

• 25:41 - 25:42

  and owning

• 25:42 - 25:44

  the things that we're doing and owning the

• 25:44 - 25:46

  environment that we're creating and so you know,

• 25:46 - 25:49

  I just want to say thank everybody that supports the podcast, those that are,

• 25:49 - 25:51

  you know, we are super powered by the A.

• 25:51 - 25:54

  D. H. D. Coin over on rally. If you just go to A. D. H.

• 25:54 - 25:59

  D coin dot com, you can get yourself some coin jump into our discord. You get access to

• 26:00 - 26:01

  giveaways, white lists,

• 26:01 - 26:04

  air drops, um lots of fun things going there.

• 26:04 - 26:08

  Also some really great conversations happening in our community.

• 26:08 - 26:10

  I just wanna say thank you for everyone supporting the show.

• 26:10 - 26:12

  We have, we have a new sponsor coming on

• 26:13 - 26:15

  in the next couple of days, there'll be a sponsor of the podcast.

• 26:15 - 26:17

  Super excited for the upcoming

• 26:17 - 26:19

  couple of guests episodes that we have.

• 26:19 - 26:22

  We have some really cool guests in the work.

• 26:22 - 26:27

  Um we have Brooke lacey who will be on tomorrow's episode and then upcoming episode.

• 26:27 - 26:33

  We will sit down with Tai Lopez. Tai Lopez will be joining us on the podcast as well.

• 26:33 - 26:37

  So some great breasts, some great great projects, some great, you know,

• 26:37 - 26:38

  collaborations in the works.

• 26:38 - 26:41

  But most of all I want to say all of you for thank you for being great.

• 26:41 - 26:43

  Thank you for listening to the podcast.

• 26:43 - 26:47

  Thank you for sharing it in your discord for amplifying it.

• 26:47 - 26:49

  And if you have the opportunity and you're getting value from this,

• 26:49 - 26:54

  please leave us a review over there on apple or five stars on Spotify.

• 26:54 - 26:56

  We would greatly appreciate it

• 26:56 - 26:59

  Until tomorrow. My friends. Make it a good one, cheers.

• 27:02 - 27:04

  All right, so for those who are watching on video.

• 27:04 - 27:06

  Thanks so much for tuning in.

• 27:07 - 27:11

  Yeah, try to really break down rug pools versus fud versus you know, bad N. F. T.

• 27:11 - 27:12

  projects

• 27:13 - 27:14

  and I will say

• 27:15 - 27:16

  it gets a little bit

• 27:16 - 27:18

  sticky because there are some projects

• 27:19 - 27:21

  that I don't believe we're rug pulls that launched

• 27:22 - 27:23

  in the summer of last year

• 27:24 - 27:26

  that have really just given up on their community on their roadmap

• 27:27 - 27:30

  and I think that people are just hoping that they can disappear

• 27:30 - 27:33

  and get away with it. And what I'm finding is

• 27:33 - 27:36

  some of them are launching a second project or a third project

• 27:37 - 27:40

  or being brought on as advisors and making additional money,

• 27:41 - 27:44

  but yet they didn't deliver on what they first did in this space.

• 27:45 - 27:49

  That's another thing that, you know, that keeps me up at night is um

• 27:49 - 27:53

  not only do I want to help educate and amplify the good people doing good things,

• 27:53 - 27:55

  but we also have to hold people accountable,

• 27:55 - 27:59

  hold people accountable not only for their actions, but they're in actions and

• 27:59 - 27:59

  you know,

• 27:59 - 28:01

  that kind of goes into the idea that sometimes we

• 28:01 - 28:05

  have to pay attention just as much to what isn't said

• 28:05 - 28:09

  as to what is said. So I hope you guys enjoyed this episode,

• 28:09 - 28:13

  Hit that subscribe button, Let me know what you thought of this in the comments,

• 28:13 - 28:15

  what you thought about, you know,

• 28:15 - 28:20

  my quote on transparency and giving you a window into

• 28:20 - 28:22

  determining if someone is trustworthy

• 28:23 - 28:24

  until tomorrow cheers