IlluviTalks #14 - GameFi Industry: FTX Collapse, Solana Troubles & Elon's Twitter War Path (CryptoStache + MetaMona)

What will the lasting impact of the FTX collapse be on the crypto industry? Does it make sense for game developers to build on Solana anymore? How will crypto and NFTs be further integrated into Twitter?

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Transcript

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here we go here we go bringing it in for a louvatox you know that's right it is some spicy times right now in the crypto industry the GameFly industry hey everybody my name is Andrew wall host and executive producer at alluvium and today we're going to talk about all the hot topics of today with an expert panel as always of some of the smartest people on the internet FTX collapse Solana is having trouble and Elon Musk is on a war path at Twitter it's absolutely wild here are the topics that we're discussing today check it out and I've got a panel of the smartest people you've ever heard to talk about this But first you need to understand that everything this they're saying is not Financial advice this is you are responsible for doing your own research and seeking independent professional advice and we're just trying to inform you on what's happening in the industry and our opinions but your Geniuses because you're tuned into this show and you already knew that who are these some of these smart people I have on the show today meta Mona is coming on the show for the very first time let's welcome her TV and broadcast style journalists making crypto content and web 3 content I love your content thank you for coming on a louvatox thank you thank you for having me thank you so much for having me I'm really excited to do this so let's go get it it's been a wild time in the industry with FTX collapsing seeing a further downturn in the prices of basically every other crypto Solana has been experiencing troubles because of its tie-in they've got their Solana phone is it the future of gaming everything is at question right now so it would be really helpful to have someone with a powerful mustache that literally thinks about this all the time and is following literally every detail of the metaverse in every blockchain there is wait a minute we've got that guy his name is stash and here he is look at that powerful stash what's up buddy welcome back what's going on my eluvium fam good to see you guys again back at it again on here on the louvatox I like hanging out you know honestly man I just like hanging out with you Andrew and and to have a chance to do that every every other once in a while it's pretty neat Nifty look at us all next to each other like this I like hanging out with you too and our audience likes it as well the team right this is a dream team right here guys this this is the oh geez what are the ogs we are the ogs yeah these two over here they know each other they've been working with each other uh to help build media businesses in the crypto space so it's really cool to have you both of you on the show today let's be here for our audience as well because there's been so much upheaval in the industry so much question as to what the future of this space entails what do I mean by that well let's just kick it off with the first story of course I'm not gonna recap everything here uh scam bankman fraud uh ended up uh bankrupting FTX it was supposed to be you were the chosen one it was supposed to be the platform that was Gonna Save Us all Mr Wonderful endorsed it Tom Brady endorsed it I mean it it brought Millions down with the company and there's a contagion effect along with it there's timelines you can look at I've chugged about a hundred videos on this topic is there scam is there fraud certainly we know at the very least there is Ben bankruptcy and a lot of people lost a lot of money along the way so let's discuss what implications the FTX collapse has on the industry the industry that we're all going to be in here afterwards okay so the first question and I want to kick this over to our friend stash we need that powerful mustache to answer the question what will be the lasting impact of the FTX collapse on the crypto industry what are your thoughts on that I mean it's kind of the same as what we've seen here with some previous collapses this year I hate I hate to say that like when I'm saying in my mind I'm like oh the previous collapses this year now it's becoming a little bit of a normal thing you know we're referring to Celsius Voyager and then now block fi Luna yeah

I can't fit all my fingers in here in the frame there's so many collapses look at myself I'm getting my toes hold on man get my [ __ ] yeah I mean that's that's really what it comes out it's become almost normal for us to see these collapses but um you know they they all have a very similar effect this one I think is a little bit more headline making because especially in the United States because you know Sam was more headline making and he had more ties in uh you know and then in the Paul in the political world than I think we saw people like in Celsius and some of these other companies that have collapsed like yeah they're big companies yeah they had ties but not on on like the kind of like oh we know who you are you know you've advertised all over the damn country we can't go anywhere in the Bahamas without seeing a damn FTX logo we get it uh and so and wasn't he the number uh scam bankman fraud was the number two donor to the Democratic party as well so he not only on oh yeah awareness side hundreds of thousands of dollars he donated to the Democratic party yeah yeah yeah I I mean and and those were your funds just so you know if you're an FTX customer those were actually your donations yeah but what it does in general for the entire crypto industry collapse like this is because it's so visible it makes the mainstream media and then people associate to a brand that they they've probably seen somewhere that logo and then like this is a big deal and and really what it does is it just it it tanks our credibility right we're crypto and nfts and you know web3 gaming and all these different aspects they were they've already been you know in people's uh [ __ ] lists right they've already been things like that people think oh this is still a scam we're still in that age where a lot of people think no no it's not yeah there's still tons of people out there that think crypto is a scam and so this just helps to give them another point to validate and say Yes crypto is a scam look you can see I've had normal people who not are not in crypto for sure who are business owners and and then yeah this is what they couldn't this is the thing that they hit me up about right every once in a while there's something that hits the mainstream and uh you know people who are not crypto contact me or say something about this and they're like oh hey did you see about that FTX stuff and I'm like yeah of course I saw I'm in the internet you know there's no way I couldn't have seen that but it makes headlines in the mainstream media and so it just it chips away at that mainstream credibility because they don't get the same exposure they probably didn't hear about Celsius they probably didn't hear about three arrows they didn't they didn't hear about block five but they definitely have heard about FTX and so I think that it just has that really you know big credibility hit for a very mainstream audience who is is going to be that that tip of that that uh you know the top or just be uh below that top of that the technology adoption curve for crypto they're they're that that massive big audience that comes in after you know we've been doing it for a long time and then this is going to push it back right so it it does that that's for on the consumer side and then B on the the side of like government and regulation which is maybe this is what it was structured to do this gives them another you know a another weapon in their Arsenal against crypto to be able to say hey we're going to regulate this in the way we want to and and you know because it's for your safety see here we don't want things like this to happen again we need a really good public increased regulation is definitely a huge part of the narrative right now and yep I mean you got to ask the question and I'll bring this up and I'll kick this over to matamona with all of this happening the everyday person seeing the Fallout that stash is talking about and seeing the loss of credibility of the FTX brand do is a regulation a good thing for the industry now does this prove that we need a lot more regulation right now or is this going to potentially lead to way more stringent regulation than we would have needed had FTX not collapsed metamoon I'd be curious to know what you think you know I think you guys said it best uh you know we've had a lot of examples in the past right but people didn't know who Luna or Tara or Celsius were right but for the first time ever the world is watching this and they can recognize you know why they can't recognize because what he did is what our banks do in a way right whether you're whether um whether or not you're dealing with crypto or other Securities there are limits with respect to how much uh you can borrow right uh our banks do this on a daily basis but the issue becomes how much do you leverage clients funds the issue is also that there's hundreds of millions of dollars missing uh and Sam McMan resigns and walks out the front door and says I'm sorry this is definitely a criminal case I'm sorry the I'm sorry tweet didn't do it walked out the front door but then went back in the in in the digital back door and stole all the money back he's like suckers I got you thank you now a legend this is not a criminal okay allegedly right I'm just allegedly alleged but if this is not a criminal case I don't know what it is because in any other case had anybody else done this in a centralized setting they would be dragged out of their front door with handcuffs right that's true and like and like what we said before uh he's also donated he was the face of our of this space right uh he donated to the Democratic party so needless to say literally as we're speaking subpoenas are probably being written up by by those same people right but at the end of the day we're gonna pay the consequences of spf's action there's there's no doubt about it whether it's regulations absolutely yes there there will be regular relations and they're going to use this against us 100 but what I hope is that I want I really hope that we've officially cleaned house can this be the end of it can we just say that we cleaned house moving forward can we only have the smartest in the room and those who actually have the correct Financial infrastructure that will lead us to a decentralized finance that is my hope out of all of this whatever it takes I don't know if it we have cleaned house yet uh I mean because following the FTX bankruptcy we obviously saw block fi uh with their with their bankruptcy and obviously there was some question around crypto.com and so far crypto.com looks like it is okay and it's not going bankrupt yet we'll see what happens but there appears to be risk of contagion let's say at least that's the talking point is what is the contagion effect have we seen all of that play out yet and I'll be honest with you some people on Twitter and what have you are saying uh I don't know anyone that was impacted by this I want all of you to know I was so I currently have 25 000 on FTX U.S derivatives I finally got my wire transfer through and I might be able to get my funds off of there because that one was the only entity in FTX that did not go bankrupt so and Andrew or people like me I was doing options trading with my crypto because I think I'm smart even smart people like me that no not my keys not my crypto and all of that I did put some of my money at risk by putting it on the exchanges and I wanted to share that with all of you because I think a lot of people that uh think that they're super smart and they have their Hardware wallets and they think that people that got taken by this FTX situation or dummies maybe I'm a dummy but I did put some of my money at risk by having it on the exchanges and I'm being impacted by this and it's and there's potential for crypto contagion go ahead metamona no I was just gonna say to add to what you said let's not forget what do you mean nobody's been affected and I know we're gonna talk about this but anyone that's affiliated with the Solana ecosystem they're affected we'll talk about that did we'll talk about that coming up next no I I agree with that Solana uh you know goes hand in hand uh with FTX those two brands are kind of really tied into each other uh so really quick before we go into the Solana tie-in and the Solana problems and there's been some question about Solana's survival even with this FTX collapse what should web 3 Gamers uh and folks in the space right here learn as their lessons to learn from the FTX bankruptcy stash I'll kick it over to you what are the things that you if you want Gamers to remember these couple things what are they post FTX collapse self-custody not Simple Man I mean you know that it's literally one of the best tenants about crypto and nfts and and simultaneously the worst element about crypto and nft because it's so difficult to learn well okay so so you know there's been times where it's been difficult yes but now it's become very easy I in my opinion you know in comparison and I think it's getting easier and easier every day so to say oh it's so difficult to do this it's not necessarily the the the actual physical task of doing is difficult it's the mental task right people mentally are not uh prepared for this paradigm shift in the way that we treat our finances because they've always done it the other way where you put your money in the bank the bank holds your [ __ ] they're fraction on reserving it they're not giving you any any kind of you know residual income from that they make a ton of money you get nothing but crumbs uh but we'll hold it for you and we'll probably charge you 20 bucks a month for the courtesy of doing so too

my money I mean just like Bank fees you wonder um what are they even doing on my on my business bank account and I know you have one too I get analysis fees I get processing fees I get like all these extra fees I'm like what are you actually doing nothing there's a digital bank account that requires all these monthly fees and the answer is Jack squat right they're robbing you they're robbing you just like FDX robbed you it's exactly what they're doing they're literally just stealing out of your pocket because you've gotten so complacent because humans in general have gotten complacent with the banking system over the last you know 100 couple hundred years and they've just run they've run them up man and so we've gone to porn we're like yeah who cares this is how it is right we just accept it and so that's really what crypto does is it is it it wakes you up from this nightmare of of centralized banking where you've just accepted how things are going to be and that that's how you have to do it or that's how it's done but crypto allows you to to get away from that so the big takeaway and we've seen this and people are our understanding this is that you need to be self-custody in your crypto and nfts do not leave it on exchanges do not leave it with third-party services you know because it is going to be at risk and I think that we've seen a record amount of crypto leaving exchanges here over this last week so people are understanding that that is a key takeaway here I think I agree another key takeaway is to listen to this show on all audio platforms it's a sexy show yeah it is I'm gonna chop it up I'm gonna make that audio sound so good girl you know what I'm saying it's on Apple podcast Spotify overcast literally everything go to eluvium.busprout.com you can listen to the audio version while use self-custody your crypto and you don't keep it on the exchanges the anxiety I have felt uh trying to get my crypto off of the derivatives exchange for FTX is um can you know how would they say pain is the uh is the best teacher and the anxiety I felt has taught me that I will never keep any crypto on any exchange even if there is some sort of yield or trading opportunity it's just not worth the heartache and a meta moment Mona brought up a moment ago the implications of how Solana is tied into FTX and so a couple key stories here just to kind of catch everybody up so that they understand all of the different tie-ins and implications here and you talked about some of some of this on your most recent around the metaverse show uh crypto stash uh Solana Foundation invested in FTX held millions in Sam bankman Freed's uh link oop I should probably full screen myself so everybody can see that uh held Millions on linked crypto exchanges um also uh there was star Atlas uh the biggest game on Solana uh Sequoia Capital uh reported a loss of 213 million in their exchange investment and solana-based star Atlas game Studio revealed that FTX crash cost it half 50 percent of its cash Runway the biggest game the biggest app the biggest thing on Solana just got wrecked 50 of its Runway I'm not dancing on their grave here that is terrible that is horrible news huge implications uh for this and of course Solana keeps pushing forward and doing fancy stuff like their phone and what have you so the question that we have to ask ourselves is and I'm going to kick this over to uh metamona if you could uh begin this discussion many are questioning whether Solana Will Survive and Thrive given the recent events with the cascading losses with the association with the FTX brand and Solana and literally uh top projects getting wrecked in terms of their Runway is this just fud or is this a legitimate concern about the future of Solana yeah I think I'm going to take us back a little bit on this one because what really stinks about this for Solana is that Solana just had just finished an incredible event in Lisbon uh over 13 000 people showed up to this event at break point event so before we talk about is Solana going to make it or not I think it's fair to first talk about uh what Solana has been building in the past year and that's what really happened at this a lot of Alphas that were dropped here so if I may I just want to briefly highlight because I want to bring value first right I I if you if you don't mind I just want to briefly talk about some of the alpha that was dropped at this event from Solana nfts on Instagram with Phantom uh the Asics debuting the physical Salon of shoes to over 40 games in studios and uh their Wares that were presented there the World Cup integration just before the biggest soccer event that's happening next week they had people and his collaboration for a 3D nft experience uh render Network and their partnership with Microsoft and Google was announced and let's not forget the whole financial front side of this circle and their usdc support for the euron Solano helium moving to Solano and extending their mobile Niche Network and these are just to name a few so did a bomb go off right after Solana announced to the world what they've been working on for a whole year yes absolutely is this the end of Solana I'm I'm gonna my opinion I'm gonna say no and I'm gonna say no because I think what we saw in Lisbon was the strength of the this decentralized community that Solana is uh and the community that has momentum because that's what they really showed they showed their momentum and if they have momentum listen there is there is cost to building on the bleeding edge this is a bleeding edge people are gonna get taken out right but if you've you have a momentum which I feel like that's what Lisbon demonstrated to the world I think they have a chance so I'm going to leave it at that okay got it so you feel that all of the developer activity the major Partnerships and what have you that are happening on Solana are strong enough to carry through this extremely bearish and terrible news of the FTX collapse like you think the fundamentals are there the building is there the developers are there is that a fair summary of what you're talking what you uh mean by that yeah yeah absolutely listen this this this sucks this is they're gonna feel this I think the world is feeling this uh but they're active they're building is is everything that they're working on is gonna flourish no absolutely not but they're active and I think that's their Saving Grace that's where I will leave it got it so um you know I this is not an investment advice show God I hate investment uh or investor predictions and what have you no but one thing I have noticed is that obviously investor confidence in Solana versus something like ethereum is significantly lower Solana has fallen considerably more this year than eth with all that developer activity um you know investors aren't feeling confident here and obviously there was a small drop that happened right after the FTX bomb went off so do you rightfully so rightfully so rightfully so so but it sounds like you believe that Solana can recover here so let me ask you um you know is are these sort of new technologies or different Technologies uh such as like Solana phone for example going to be something that help differentiate Solana in the future creating a hardware platform uh for the salon of blockchain I want to know your opinion on this uh stash you know is everybody in the future going to have a Solana phone and are they going to be playing games or or a crypto phone and are they going to be playing games on one of these kind of web 3 devices is this something that could be bullish for Solana there's no Ethan right now for example I'd be curious to know your thoughts on that well you know they've tried to do some phones before and uh so when you talk about kids phones yeah and they they just don't work man um I don't think that uh a Solana phone is going to work I don't think that we've seen it work in the past I I think it's just too soon right now for it to work right now uh you talk about who's going to buy this phone over an iPhone or a Samsung I mean you know maybe some crypto Bros who are really into Solana uh uh I mean I'm struggling like anybody else I don't know man I mean so to me I think that a hardware device is the wrong way to go now what I do think would be bullish and something that I would love to see more than anything is really a blockchain as a service platform that is going to compete with uh Android and iOS as a mobile operating platform uh with a decentralized App Store that is not gated by a centralized third-party company like Google play or apple itself yeah is obviously not that right solanaphone is just a vanilla Android operating system that does have the unique functionality of being able to store your crypto keys on the processor and supposedly that's more secure than storing it on the software layer supposedly or seat Vault they yeah it's the seat Vault they have right see it's just it's just a fancy Hardware wallet man is what it comes down to yeah yeah it's a fancy Hardware wallet oh great okay okay yeah but you know what though um go ahead stash I want to ask you a question remember when what was that big clunky cell phone that came out like back in the AOL days when cell phones first came out it was that thing was like this big right did we would we say that wouldn't have worked at the time too and the reason I say that is because if you think no no no no no no no no there's a huge difference between those things but but go ahead yeah I'll tell you I'll tell you in a second go ahead but no I and I completely agree with you because I think this is just an Android phone with a crypto feature right so it's essentially a phone for crypto enthusiasts there's nothing really special about it but this is how I like to look at it if this is the first attempt right to uh introduce cryptocurrency or digital currency integration into Mobile phones first time ever how else would we do it because apple is not going to do it Google is not going to do it going to stand back and they're going to watch they're going to watch Solana take that first you know attempt make mistake fail and then they're going to take what worked and do it right don't you think so well first off this is not the first time we've seen you know crypto incorporated into a phone Samsung was already been doing this for years you know they already have crypto wallets built into the Samsung line of phones um so so it's not like this is a first ever and like I said there's already been crypto based phones uh I think it's it's Syrian Labs was that was the company that came out with the the Finney phone which which was launched a couple of years ago but um I I like I said it it to me it doesn't it doesn't add anything additional to a regular phone that would make me choose this one as a normal consumer over a flagship phone like an iPhone or or a Galaxy right uh so I mean I don't see that as being really anything that's going to be super useful that people really are going to use there's there's nothing additional here that it gives me like I said maybe some crypto Bros will use it but that's about all you know seeing a company like Samsung incorporating a blockchain wallet into their you know into their line of phones and a keystroke store uh where you can store your keys as well in their phone I mean that's a bigger deal and that we've already been through that you know so to me this is this is this is kind of like nothing like it really it's not going to pan out I don't see it working here and you know when you talk about the difference of like well did anybody think that a giant cell phone in the 80s was going to work in the future well this is that's a different thing I mean that's like a whole different technology this is literally just a competitor for uh you know other cell phones you know there's nothing really new here and so there's no there's no compelling argument to say people will use this phone now what I would uh would would love to see is like I said an OS you can install on a phone that is decentralized and in Os or an app store that you know is decentralized for a phone uh that uh you know maybe is REM buy a dow instead like that would be interesting if you talk about what would be cool for mobile phones and the mobile aspect of crypto uh when it comes to things like that but I just don't think the hardware we're just not ready for it so your base three adoption is coming along really quick I gotta ask this question both of you if web3 adoption is coming along and the main gaming platform in the world the most popular one is mobile platform that's where the majority of Revenue is so presumably the web 3 gaming space will be primarily on mobile in the near future then doesn't it follow that phones in the future will need to have some sort of Hardware wallet or what have you functionality to secure digital assets properly for game for the gamers of the future and so maybe Solana's mobile phone is a nothing Burger but perhaps that Hardware wallet technology built into the phone is the Innovation here and that's exactly what I'm talking about yes that's right but that's that's already it's already been done it's not it's not an innovation here and like I said I don't think that that's it's not a hard thing to do either with the phone and so you know it's like great Solana's gonna do it do it with this phone but no one's gonna buy it and then then iPhone and and and you know uh you know Samsung Galaxy they'll just include it eventually too I mean you know what I'm saying it just it doesn't have a big enough appeal to to over to topple the the big brands that everyone is is buying anyways you know uh so so to us it's like oh that's super cool we're a very small demographic of people out there and I can guarantee everyone watching right now and metamona as and Andrew and myself none of us are going to buy this Salon a phone and use it and replace our current phones that we have right now absolutely not absolutely unless Elon comes out with a super phone with his super app then maybe we can do Twitter even then I would be I would be hesitated to trust Elon actually

I like Elon but you know I like Elon as well okay let me okay then final question here on the whole Solana thing uh in the whole phone thing so perhaps this technology is ordinary let's say and maybe there will be extra crypto stuff that will be in the phones of the future and maybe the Solana phone works out maybe it doesn't do we see uh folks gaming more on a crypto phone or more on AR VR glasses and goggles in the future where do you think the adoption of the web 3 aspects of gaming are gonna come from is it gonna come from mobile devices VR headsets or ar glasses or obviously some combination of all three I'd be curious to know what you think because what the platforms of Tomorrow are in web 3 are critically important for developers to understand what type of experiences are you going to make there's a huge difference between making a mobile game versus a virtual reality game versus an augmented reality game those are three completely different formats to make a game so the hardware future seems unknown right what are your thoughts on that guys go ahead uh I mean I think uh stash is really good with this stuff because he's he's in uh deep into gaming but I I agree with you uh Andrew because gaming and mobile is on is there you know what I mean there's there's I don't want to say less work to be done but we're halfway I feel like we're there the augmented uh reality we have a lot of work to do we have a lot of advancements that still need to be made uh and and it's super expensive too and I feel like the first or second step uh can be taken in Mobile and I'll throw it over to stash because I know he will have a lot to say on this

what you got man um yeah I mean I think that when you you talk about what is going to be the thing that that you know the device that people use for web3 enabled everything whether it's games or Internet or whatever uh what will be it's going to be mobile obviously here in the immediate future so time scale is really what you want to look at like well but when will that be different you know and I think that that web3 has a lot of of you know solutions for some of the problems we see in traditional finance and some other areas out there right a lot of areas out there in life but uh we're just not at the point where um you know anything beyond mobile would make sense like VR and AR great they're awesome but they're still super French right now you know when you talk about crypto being Fringe I think there's probably more people who have played VR and own a VR headset and are into VR than there are into crypto I mean that I don't know about them it's around the same like it's one of those things where just like people know about it people have heard of VR they see it around it's in the mall when they go somewhere you can you play VR games but it's still not mainstream enough and so I think that the mobile phone will continue to dominate here for quite some time uh that the hardware has been a huge problem when it comes to these you know pushing these platforms forward right when we talk about uh you know any technology you know we can create badass games that look amazing Right video games that are almost photorealistic just like you see in movies but the problem is the hardware can't run it right and we can literally do some [ __ ] like that but the hardware cannot run it uh and so that's kind of the problem is we're always we're always in Technologies we're always limited by the hardware side of things the software moves very fast and so crypto as a software is moving very fast and the hardware cannot keep up with that so I think I think that you know Mobile gaming has dominated and we'll continue to see more and more people you know playing mobile games that are nft enabled and have a seamless experience it is built into their phone whether that's through the browser or through the app that they're playing it just kind of connects through the internet like you know we're already seeing right now with a lot of these games that are using nfts to validate that you can play the game you know basically you're going into their app or you know whatever and then you you log in through the app and then the app says okay cool let's go to the website and then you're going to log into your wallet here and we're going to verify you have you hold this nft so you can actually get access to the game and so then it takes you you know basically to a browser window to do that and then kicks you back to the app and says okay yep we verify this guy has the end of Tina's wallet you know send them on and let them play this game and I think we'll see more and more of that and because it's a pretty easy process you know it's a process people are pretty familiar with it doesn't change things really but still adds that extra layer of like okay well what can we do with that now uh and there's a lot that you can actually View that that makes sense yeah I think the number of people using VR or have used it even in their own homes is in the tens of millions of people and crypto's in a similar spot um I recently bought the Oculus Quest Pro headset supposed to be the best one that meta has to offer it's currently sitting on my shelf over there collecting dust there's how many times did you use it tell us the truth um I used it about 15 times so far um so what's the best game what's what's the best thing you played on on Oculus because I'll tell you my favorite but unfortunately the best game still is beat saber on VR you think so yeah I mean I I think it's probably no okay you gotta try you gotta try the Star Wars ones so I enjoyed the Star Wars game enjoyed the Star Wars game those are great man I mean I I think like versus like you know it's a different experience a beat saber is definitely one game and it's really great but I really love the Star Wars like those were a lot of fun man I agree how long did you spend in there that's what I want to know because you'll have your phone in front of you I bet much longer than you would have the headset on your face or how long how much time did you spend in there that's correct and so one of the reasons why I'm not compelled to spend more time with the headset on uh and this is this is the just so everybody knows this is the year I'll literally grab it right now and just show you guys this is their big expensive headset one sec yeah like I like I've spent about 20 I think maybe 20 plus hours in a half-life Alex plug my headphones backwards Alex that's probably one of the best F5 Alex is probably one of the best VR ones but that's it's really good yeah yeah this one right here is the 1500 one they just released I bought all the accessories I spent total about two thousand dollars I got everything their official headphones their Chargers everything and the reason why I'm not spending I'm not trying to brag about how much money I spent I really wanted to test out the full experience I wanted to have the best possible experience that Zuckerberg can offer and the reason why I'm not spending more time with this headset is um the screen just looks like garbage

it just looks bad uh and it's it's two 1080p screens in the headset um and it just looks terrible um I can I have a hard time reading text I have perfect vision I have a hard time reading small text it's so bad uh and so that doesn't mean that they did a bad job designing this headset that doesn't mean that this is a bad piece of Hardware I think it's a beautifully designed s t or piece of Hardware based on 2022 technology they killed it it's so well balanced it's so beautiful it's so high quality they thought through the experience on every level it's just gorgeous the experience is fantastic except for the screens are bad there's not enough processing power to have high quality games and there's almost no games that are good so there's these huge missing components to VR right now and so the best that VR has to offer is really truly not very good now I know that there are much better headsets out there in the thousands of dollars that have 4K screens and can play much higher Fidelity VR experiences um but what this really showed me if this is the best that meta has to offer spending 10 billion dollars per year on development it means that we're probably about 10 years out from mainstream adoption yes at least absolutely I feel like even with this gorgeous 1500 headset I'm the guy right now with the giant cell phone next to me like this is we're in that moment right now my cell phones in VR take that skiing this year yeah I could take it skiing and this is small compared to their other ones and it's it is beautiful yeah I I have an Oculus a quest just an original Quest you know and not even the quest too and it's big it's bulky it's heavy you can't really keep it on for that long I would say like my my limit for playing VR is probably an hour and a half is really the longest time ago it does yeah yeah around your eyes and your face and starts to be heavy in your head you know and like you're right there's not a lot of good games there are a few uh definitely check out um check out Half-Life Alex that's a really fun VR game and it's actually really well done if you like like Half-Life uh the graphics on that are actually pretty good the mechanics are good and it's got a good story too so we talk about VR you're right there's just not a lot of great games or experiences out there yeah because a the hardware is behind and it can't keep up with the experience like people want to create great VR experiences they just did the hardware just ain't there man and like you said that little piece there it's still not enough yes so so expensive and that is exactly why ladies and gentlemen crypto mobile wins over VR there's just Salon a phone hit us with your affiliate link matamona for the salon phone

Andrew for your Oculus your Oculus here's my here's my Microsoft uh I just gave it a bad review there's no there's no there's nobody out there that this is an appropriate piece of Hardware you don't want sash to pull out his glasses you know his his sponsorships wait a second now foreign yeah so that was a fruitful discussion and I think to your point I agree with you madamona I think that mobile and it sounds like we have a consensus here mobile is uh going to be the platform of the near future and in the maybe medium to maybe let's say long term let's be honest it's long-term future VR could be a thing but you know what I was going to gaming conferences 10 years ago and people said that VR was 10 years out yeah and here we are and it's not it's still 10 more years out in my opinion there will be better and better experiences it will become more and more developed but you know as a player like eluvium or some other per other entity developing in the space um does it make sense to allocate your resources toward VR and AR right now I would say absolutely not it makes sense to allocate resources toward widescreen and vertical experiences on mobile desktop and console great let's move on to our next topic and uh you were trying meta Mona you were like bet wingman over here a wing woman for me like trying to transition me into the next topic yeah I know I've seen that I see what she's doing she's trying very hard to follow the script I shared and everything like you're you're I love you're like the best guest ever um sometimes this is what happens when you bring a reporter on on the show you're always thinking like I've got help with the show flow so there's a bunch of changes that your boy not really your boy but let's pretend he's your boy Elon Musk has been making to Twitter and obviously Twitter is the Town Square for all of us to discuss the crypto nft and gaming space he's made I'm not going to go over all of the changes he's made but he's made a lot of major changes to the platform including the largest changes of course are defiring two-thirds of the staff canning the executive team and basically gutting the company reports of people and Elon confirming anyone that says anything bad about Elon on the internal slack he just fires them he basically is trying to get rid of anyone that disagrees with him on any level has any bad blood and is basically um anyone that could oppose him implementing change into Twitter cutting out all of that which appears to be two-thirds of the company and then the remaining third will be there to rebuild From the Ashes of Twitter the other major change that we saw him roll out immediately was the Eight dollar subscription service to get that little check mark of course next to your profile which had its issues and Elon has been constantly talking about uh how he is looking to um maybe into integrate a payment system into the platform and of course the Twitter blue subscription uh was part of that future where he's finding new ways to monetize Twitter that don't involve them being entirely dependent on advertisers for all of their revenue if they can get more subscription Revenue if they can get more transactional Revenue then they don't have to design their algorithm to feed these toxic conversations that are happening on Twitter instead it can just be more about sharing ideas with each other in an honest and open Town Hall sort of way that's the idea but there's been lots of drama and lots of issues along the way so let's discuss how this impacts us and impacts us in our space so the first question is is Elon Musk doing a good job in your opinion and I'll start with metamona is Elon Musk doing a good job managing Twitter since he took over if not what could he be doing better Elon sweetie you're doing great I'm just kidding uh no my my boy my boy my boy Elon guys he's working hard it's like what is that two weeks into the job what is it three weeks two weeks I don't know um listen it's tough man to build the world's everything super app or whatever it is uh he wants to bring I mean he's taking it x.com exactly I just actually read uh it was like a yesterday's headline or something he said he is working day and night he said that he said I've taken on way more than I could handle my Crimea River you have enough money to get hundreds of teams to work on different areas and Twitter what are you talking about but he wants to bring uh it's very clear what he's doing and he said it he's he's wanting to create WeChat right the US version of WeChat he wants to bring chat social networking payments shopping gaming uh all of it into into one app right um but here's the thing too though let's and I I don't know if we should talk about WeChat for a second but what I do know about WeChat is that WeChat success heavily dependent on the regulatory environment uh that allowed WeChat to integrate thousands of mini apps under its umbrella we can't do that in the US uh don't want to bring up a new topic but uh he's not going to be able to do that if that's what he's trying to do and he's been very vocal about it I think regulate Regulators will have a lot to say about what he's trying to uh trying to build so is he doing a great job I mean I don't think it's it's too I think it's too soon to say because I think he's just building the foundation to build this like super app of of social um and and commerce and that is a huge undertaking so I'm eager to hear what uh stash has to say about that yeah I mean obviously there's the long-term Vision that Elon is presented of at x.com type of thing that's the everything app um stash what do you think do you think he's doing a good job he's making the right moves with Twitter today and do you think that he could improve in terms of how he's managing Twitter so far yeah first off people don't like everything apps they want they want an app just for one thing uh and you know Twitter does what it does and it does it pretty well but the thing is is that I think Elon actually is doing an exceptional job and exactly what you should do in this situation if you're this big swinging you know thing coming through I you know usually I'm pretty unfiltered man but like on other people's shows and [ __ ] I don't I don't really know which direction to go sometimes but uh if you're coming through like this and and you and you're like hey I just bought out you know this company I'm gonna be this you know I'm gonna be making some changes you people are going to put it put a Target on your back like that's gonna put a Target on your back so I think coming through and doing what Twitter really needs which is a cleaning of house it really needed it I think there was a ton of bloat at Twitter I think that's why things weren't getting done you start to see some some lackadaisical work they're getting fat and lazy and that's what happened and Elon saw this and he went through and was just like nope cutting all the time all all the meal tickets cut cut all the meal tickets for these lazy fools and that's why he fired a lot of these people like because I think that's what was happening I think there was a lot of people suckling at the at the little T of the tweets the Tweet teeths and he saw he saw that was like nope sync no more money into this we're done and uh decided to just literally rip the the sinks from the bathrooms because uh you know Elon does his things in his own way you know I think that's why people respect him but also hate him at the same time is because he kind of does things in his own way so I think he's actually doing I think this is exactly what you would do in this situation I think he's doing a good job so far I think clearly probably some of the stuff he'll do you know in the future is you know could be highly scrutinized just because of who he is but will It ultimately be better changes for Twitter I think it Twitter needed some changes they needed some shake up Jack wasn't doing it he wasn't feeling anymore and I think that that uh having somebody else that is and sees a greater vision is going to be better for this type of platform and and for its future okay thank you for your overall thoughts on that guys I appreciate it I I wanted to tie this into what this means for us in our space you know I want to ask how will crypto and nfts be further integrated into Twitter I mean this is we're seeing the craze now in matamona you are covering this on your channel as well Instagram integration of nfts and basically every social media platform integrating nfts in some fashion avatars primarily but now marketplaces as well and then crypto payments is something that hasn't quite been fully integrated but you can get around it or get into crypto payments in certain ways so starting with matamona how do you see crypto in nfts and blockchain technology and web3 Technology being further integrated into Twitter and is this going to be a good thing or a bad thing is this going to be maybe be problematic right because they're trying to do everything all at once or do you think this would be a good thing for Twitter to integrate this new blockchain technology further into their platform yeah I mean I cover headlines on this last week and I'm going to cover actually us a few headlines on this today I mean uh Twitter just filed paperwork with the treasury to enter the payment processing business uh we already know musk is building a wallet and most likely that's going to go with that we already know and and I'm just stating what we already know right we know that binance is backing musk a binance has also showed interest in creating a team to work on how crypto can help Twitter but let's add one more to the list which this was super cool uh last week in a very lengthy YouTube video uh to musk and his team and the community Charles hoskinson demonstrated how a decentralized Twitter can be built using Doge and cardano if you haven't seen this video I highly interested it's mind-bending it is very dry though it is like

wires and whiteboarding like a million ideas but it is fascinating uh to do you think that uh musk will watch that video and then uh maybe go the direction of a decentralized Twitter you don't think musk is just as dry as hoskinson I mean these brains they they probably don't have a lot of I'm sorry to say this social skills uh they're just scientists right so but I mean do do you think that he was onto something I thought that was fascinating and I think that's what musk is trying to do as well uh is it the right direction I yes I mean we just talked about crypto mobile right so crypto mobile Social Mobile Commerce mobile digital currency uh you start connecting the dots but the big elephant in the room is regular regulation and regulate Regulators um and until we figure that out we don't know if it's a good idea or not but when you look at technology and the direction that we're going listen digital environments it's inevitable it's happening we're going to be living in digital environments I think there was a study that just came out last week in 20 and don't quote me on this but in 2026 EV one out of every four person is going to spend at least one to four hours in the metaverse uh either meeting with Friends meeting with uh on Zoom uh shopping Commerce or playing games and there was a whole list of it so it's happening and I think what we're doing is we're preparing uh for that and we have to kind of build these next iterations of everything that we have right excuse me and I and I just want to add to add permissionless if you about a year ago Chris Dixon from a16z he described the internet so well he said if web one was read right and web 2 was read write web3 is going to be read write own right so it's inevitable we are going to live in a Creator's economy and what does that mean and how do we transition to that well we're all early adopters and we're witnessing it and we're building so it's happening it's just a matter of how long will it take and what will those regulations look like great answer I like that um stash Twitter crypto nfts what's gonna happen buddy

lawn incorporates some sort of crypto payment something into Twitter I don't know that it'll be one of his first things that he does that's not something you roll out kind of lightly you know things that have to do with finance and payments uh you know we have seen other social media platforms pop up that are crypto enabled multiple actually over the last multiple years you know steemit was the most notable which is now called Hive or you know peaked uh is is the kind of the main interface for that but we there's lots of different models of of what we've seen there of what we've seen there you know with all the different uh you know uh platforms that we've seen pop up so you know is it possible yeah we've already been doing it you know we've already been testing it and trialing it and erroring it here so I think maybe there could be some some you know Lessons Learned by Elon if that's truly the way he wanted to go but I mean what features are we really going to roll out for Twitter like do nfts make sense problem we've already seen that roll out right where you're connecting your nft to your profile so like they're open to it they were open to it before Elon took over so you know will they continue to be open to adding these features yes I don't know how crazy you know life-changing they'll be on Twitter but they may be cool little additions you you know I don't think it'll be much beyond that you know simple stuff got it I'll quickly share my opinion and then we need to end the show so I think that Twitter uh to your point they partnered with binance elon's developing a wallet I think that Twitter is going to position itself as a great platform to verify your identity uh through a monthly subscription that you have to pay and then having verifiable identity nfts in the future integrated in the platform and then it'll make for a great platform for Effective micro transactions on the black on the blockchain and so if you're logging into video games of the future you're paying at various vendors and what have you using Twitter as a way to log in or to verify or to tap and pay with your verified ID that you're paying a monthly subscription for with blockchain wallet integration all in a Twitter app I think all of that makes sense uh and I think that Twitter could be successful with those functionalities what I don't want to see with Twitter is them try to become the everything app um like because that's what Facebook is right and Facebook is a hot mess uh Facebook has a platform just trying to navigate the menus it's its own like uh level 10 uh super boss that you can't defeat without a party of 50 people with legendary gear like it's ridiculous how many things they've tried to shove into that platform but I think that those are the things that Twitter can do really well be the Town Hall in the conversation that everybody has make people pay money every single month to be there that weeds out the riffraff have verifiable identity once digital IDs become mainstream it's already mainstream in Australia by the way everybody in Australia has a digital ID on their phone uh that will roll out globally and then lastly microtransaction payments Twitter's in the zone man Elon will easily exceed his valuation he bought the company for if you can just do those basic features not a small task but I think he can pull it off he he I mean shoot he's built the biggest rockets and he's gonna blast them off tomorrow so I'm pretty sure you can pull that off I I agree yes people that are not already familiar with you where that can they find you on the internet and why would they follow you on the internet well um metaverse Express on YouTube and metaverse Express on Twitter guys and again I bring in I try to bring in a different perspective I tried to come from the news angle so if you want to get your top headlines in web 3 and the metaverse I put out a about four minute six headline once a week interview with Karen Warwick as well right yes that was an amazing amazing interview what an awesome guy uh you know and it's crazy because how you know when I when I researched crypto there was I I researched it on my own I was reading white papers right but to sit with Founders and I try to do that every other week so once a week I do a newscast and then I do a deep dive with a Founder uh and to just have the opportunity to bring that information to the community because when we did crypto nobody did that for us we had to read white papers guys now we get to bring those founders the reading and white paper have you guys read a white paper viewers please

no seriously and and now we get to hear it from the horse's mouth right and that's what I try to do I am the facilitator of information between Founders experts uh God knows how much stash has taught me in this you know just coming into this space so I mean we're just surrounded by by people that love the industry they have knowledge and what I try to do is to bring those people to the channel and just uh you know facilitate information that they need to know in order to make those decisions for themselves about what is being built and what where's the value where are the risks and whether they should invest or not love it and uh what I like about menomona's content all the top headlines in the crypto metaverse nft space in like four to five minutes in like a really succinct TV style format I've never seen I haven't seen anybody do that on the internet before really killer content thank you for coming on the show I want you back stash I've seen your mustache on the internet somewhere so where can people find you yeah crypto stash anywhere you want to be YouTube Twitter Instagram Tick Tock whatever your flavor is uh you know obviously I'm putting out videos uh every week on nfts and gaming really focusing on obviously the gameplay stuff so if you guys want to know what's going on with the latest games across the industry my channel is the place to be it's a while we have a lot of fun too on Thursdays as well we're doing a lot of fun as you guys can see I'm here at uh secret agent headquarters top secret Thursdays are a lot of fun and and I would invite you guys to come check it out if you've never seen one of my streams Thursdays is the day to to be sorry

another verse is so much fun yeah right away versus great the that's like the contrast of the the two different sides of stash so Mondays around the metaverse is like we get people together and kind of do a show like a little bit similar to this and then Thursdays is like the gaming side so so whichever side you like we got you covered up yep and luvium has been a proud sponsor of that show in the past so that's a good show thank you so much for joining me both I want you both to use my booking link a book for a future episode because I loved having both of you here I am now going to boot you out though sadly thank you for joining us goodbye for now because we're going to be back once again with the louvatox same time every single week as well as eluvium showcase here on all of eluvium's avenues I promise you in every episode that you'll learn at least two new things in this episode I guarantee you learned at least two new things today if you didn't I'll give you your money back I'll leave you with a little bit of eluvium soundtrack music and we'll end this episode thank you so much for watching and stay safe out there not your keys not your crypto

thank you

[Music]

thank you